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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ABBVIE INC COM 00287y109   5,449 40,446 SH   SOLE   40,446 0 0
AGNICO EAGLE MINES LTD COM 008474108   14,795 296,014 SH   SOLE   296,014 0 0
ALAMOS GOLD INC FCLASS A COM 011532108   461 38,665 SH   SOLE   38,665 0 0
AMBEV SA SPON ADR COM 02319V103   8,761 2,755,180 SH   SOLE   2,755,180 0 0
APACHE CORP COM 03743Q108   4,727 138,352 SH   SOLE   138,352 0 0
BAKER HUGHES A GE CO CL A COM 05722g100   872 27,590 SH   SOLE   27,590 0 0
BARRICK GOLD CORP COM 067901108   11,988 708,066 SH   SOLE   708,066 0 0
BERKSHIRE HATHAWAY CL B COM 084670702   35,313 103,558 SH   SOLE   103,558 0 0
BERKSHIRE HATHAWAY HLD A COM 084670108   2,589 5 SH   SOLE   5 0 0
CAMECO CORP COM 13321l108   26,978 861,087 SH   SOLE   861,087 0 0
CENOVUS ENERGY, INC. COM 15135U109   6,526 384,329 SH   SOLE   384,329 0 0
CHEVRON COM 166764100   37,406 237,724 SH   SOLE   237,724 0 0
CHUBB LTD INC COM H1467J104   415 2,154 SH   SOLE   2,154 0 0
CISCO SYSTEMS COM 17275R102   7,651 147,866 SH   SOLE   147,866 0 0
CONOCOPHILLIPS COM 20825c104   32,091 309,724 SH   SOLE   309,724 0 0
CORNING COM 219350105   3,542 101,073 SH   SOLE   101,073 0 0
DEVON ENERGY COM 25179m103   3,545 73,335 SH   SOLE   73,335 0 0
EASTMAN CHEMICAL COM 277432100   201 2,400 SH   SOLE   2,400 0 0
EXXON MOBIL COM 30231G102   47,358 441,568 SH   SOLE   441,568 0 0
FEDERATED HERMES, INC COM 314211103   14,689 409,721 SH   SOLE   409,721 0 0
FRANKLIN RESOURCES INC COM COM 354613101   15,060 563,835 SH   SOLE   563,835 0 0
FREEPORT-MCMORAN INC. COM 35671d857   9,649 241,220 SH   SOLE   241,220 0 0
GILEAD SCIENCES INC COM 375558103   15,147 196,536 SH   SOLE   196,536 0 0
GLATFELTER CORP COM 377320106   1,589 526,038 SH   SOLE   526,038 0 0
GRAFTECH INTERNATIONAL LTD COM 384313508   8,185 1,623,918 SH   SOLE   1,623,918 0 0
HP INC COM 40434L105   11,545 375,930 SH   SOLE   375,930 0 0
IMPERIAL OIL LTD COM 453038408   359 7,025 SH   SOLE   7,025 0 0
INTEL CORP. COM 458140100   18,013 538,675 SH   SOLE   538,675 0 0
KRAFT HEINZ COMPANY COM 500754106   11,434 322,090 SH   SOLE   322,090 0 0
LOEWS COM 540424108   7,286 122,702 SH   SOLE   122,702 0 0
LUMEN TECHNOLOGIES COM 550241103   7,717 3,414,391 SH   SOLE   3,414,391 0 0
MARATHON PETROLEUM CORP COM 56585a102   575 4,929 SH   SOLE   4,929 0 0
MERCK AND CO. INC. COM 58933Y105   23,478 203,468 SH   SOLE   203,468 0 0
MOSAIC COM 61945c103   21,983 628,092 SH   SOLE   628,092 0 0
MURPHY OIL CORP COM 626717102   232 6,050 SH   SOLE   6,050 0 0
NEWMONT GOLDCORP COM 651639106   28,450 666,893 SH   SOLE   666,893 0 0
ORGANON & CO COM 68622v106   294 14,115 SH   SOLE   14,115 0 0
OVINTIV INC COM 69047q102   3,072 80,694 SH   SOLE   80,694 0 0
PARAMOUNT GLOBAL COM 92556H206   16,641 1,045,937 SH   SOLE   1,045,937 0 0
PERMIAN BASIN ROYALTY TRUST COM 714236106   17,091 685,543 SH   SOLE   685,543 0 0
PFIZER INC COM COM 717081103   17,341 472,760 SH   SOLE   472,760 0 0
PHILLIPS 66 COM 718546104   6,486 68,005 SH   SOLE   68,005 0 0
SAN JUAN BASIN ROYALTY TRUST COM 798241105   120 16,125 SH   SOLE   16,125 0 0
SANOFI COM 80105n105   14,416 267,457 SH   SOLE   267,457 0 0
TECK RESOURCES LTD CL B COM 878742204   45,063 1,070,383 SH   SOLE   1,070,383 0 0
TEJON RANCH CO COM 879080109   8,143 473,159 SH   SOLE   473,159 0 0
THE TRAVELERS COS., INC. COM 89417e109   480 2,765 SH   SOLE   2,765 0 0
TRANSOCEAN, LTD COM H8817H100   1,394 198,896 SH   SOLE   198,896 0 0
TSAKOS ENERGY NAVIGATION LTD COM g9108l173   5,625 315,678 SH   SOLE   315,678 0 0
VERIZON COMMUNICATIONS INC COM COM 92343V104   17,424 468,507 SH   SOLE   468,507 0 0
WAL-MART STORES COM 931142103   806 5,126 SH   SOLE   5,126 0 0