The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ABBVIE INC COM 00287y109 4,471 41,311 SH   SOLE   41,311 0 0
APACHE CORP COM 03743Q108 1,782 99,557 SH   SOLE   99,557 0 0
BAKER HUGHES A GE CO CL A COM 05722g100 886 40,985 SH   SOLE   40,985 0 0
BANCORPSOUTH BANK COM 05971j102 858 26,413 SH   SOLE   26,413 0 0
BARRICK GOLD CORP COM 067901108 12,401 626,323 SH   SOLE   625,590 0 733
BERKSHIRE HATHAWAY CL B COM 084670702 29,299 114,685 SH   SOLE   114,518 0 167
BERKSHIRE HATHAWAY HLD A COM 084670108 1,929 5 SH   SOLE   5 0 0
CAMECO CORP COM 13321l108 13,980 841,638 SH   SOLE   839,703 0 1,935
CENOVUS ENERGY, INC. COM 15135U109 2,301 305,929 SH   SOLE   305,742 0 187
CHEVRON COM 166764100 23,207 221,466 SH   SOLE   221,333 0 133
CHUBB LTD INC COM H1467J104 243 1,537 SH   SOLE   1,537 0 0
CISCO SYSTEMS COM 17275R102 7,880 152,383 SH   SOLE   152,216 0 167
CONOCOPHILLIPS COM 20825c104 17,096 322,756 SH   SOLE   322,353 0 403
CORNING COM 219350105 4,607 105,888 SH   SOLE   105,615 0 273
DEVON ENERGY COM 25179m103 1,396 63,874 SH   SOLE   63,874 0 0
EASTMAN CHEMICAL COM 277432100 330 3,000 SH   SOLE   3,000 0 0
EXXON MOBIL COM 30231G102 23,490 420,736 SH   SOLE   419,923 0 813
FEDERATED HERMES, INC COM 314211103 11,790 376,664 SH   SOLE   375,912 0 752
FRANKLIN RES INC COM 354613101 13,355 451,185 SH   SOLE   450,585 0 600
FREEPORT-MCMORAN INC. COM 35671d857 8,176 248,271 SH   SOLE   248,271 0 0
GILEAD SCIENCES INC COM 375558103 10,199 157,807 SH   SOLE   157,607 0 200
HP INC COM 40434L105 10,768 339,155 SH   SOLE   338,555 0 600
IMPERIAL OIL LTD COM 453038408 259 10,725 SH   SOLE   10,725 0 0
INTEL CORP. COM 458140100 5,928 92,622 SH   SOLE   92,355 0 267
INTERNATIONAL BUSINESS MACHINE COM 459200101 203 1,524 SH   SOLE   1,524 0 0
JEFFERIES FINANCIAL GROUP INC COM 47233w109 17,240 572,762 SH   SOLE   571,629 0 1,133
KRAFT HEINZ COMPANY COM 500754106 11,434 285,850 SH   SOLE   285,450 0 400
LOEWS COM 540424108 7,241 141,207 SH   SOLE   141,207 0 0
LUMEN TECHNOLOGIES COM 550241103 28,528 2,136,899 SH   SOLE   2,132,652 0 4,247
MARATHON PETROLEUM CORP COM 56585a102 301 5,634 SH   SOLE   5,634 0 0
MERCK AND CO. INC. COM 58933Y105 17,519 227,253 SH   SOLE   226,826 0 427
MOSAIC COM 61945c103 20,900 661,193 SH   SOLE   660,260 0 933
NEWMONT GOLDCORP COM 651639106 37,480 621,861 SH   SOLE   621,181 0 680
NOKIA COM 654902204 55 13,790 SH   SOLE   13,790 0 0
OVINTIV INC COM 69047q102 2,114 88,733 SH   SOLE   88,429 0 304
PEMBINA PIPELINE CORP COM 706327103 1,239 42,950 SH   SOLE   42,950 0 0
PERMIAN BASIN ROYALTY TRUST COM 714236106 3,021 759,029 SH   SOLE   757,962 0 1,067
PFIZER COM 717081103 15,108 416,995 SH   SOLE   416,195 0 800
PHILLIPS 66 COM 718546104 5,628 69,025 SH   SOLE   69,025 0 0
PILGRIM'S PRIDE COM 72147k108 250 10,489 SH   SOLE   10,489 0 0
PRECISION DRILLING CORP COM 74022d407 473 21,872 SH   SOLE   21,782 0 90
SAN JUAN BASIN ROYALTY TRUST COM 798241105 64 16,125 SH   SOLE   16,125 0 0
SANOFI COM 80105n105 11,449 231,470 SH   SOLE   231,070 0 400
TECK RESOURCES LIMITED FCLASS COM 878742204 21,478 1,119,793 SH   SOLE   1,118,660 0 1,133
TEJON RANCH CO COM 879080109 2,817 168,277 SH   SOLE   168,117 0 160
THE TRAVELERS COS., INC. COM 89417e109 396 2,633 SH   SOLE   2,633 0 0
TRANSOCEAN, LTD COM H8817H100 1,047 294,978 SH   SOLE   294,711 0 267
TSAKOS ENERGY NAVIGATION LTD COM g9108l173 1,029 108,702 SH   SOLE   108,702 0 0
TYSON FOODS COM 902494103 591 7,950 SH   SOLE   7,950 0 0
VIACOMCBS INC COM 92556h206 5,433 120,474 SH   SOLE   120,231 0 243
WAL-MART STORES COM 931142103 537 3,956 SH   SOLE   3,956 0 0