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
AGNICO EAGLE MINES LTD COM 008474108   25,562,977 317,316 SH   SOLE   317,316 0 0
ALAMOS GOLD INC FCLASS A COM 011532108   826,014 41,425 SH   SOLE   41,425 0 0
AMBEV SA SPON ADR COM 02319V103   16,649,311 6,823,488 SH   SOLE   6,823,488 0 0
APACHE CORP COM 03743Q108   3,704,099 151,435 SH   SOLE   151,435 0 0
BARRICK GOLD CORP COM 067901108   13,758,123 691,711 SH   SOLE   691,711 0 0
BERKSHIRE HATHAWAY CL B COM 084670702   45,997,004 99,937 SH   SOLE   99,937 0 0
BERKSHIRE HATHAWAY HLD A COM 084670108   3,455,900 5 SH   SOLE   5 0 0
BRISTOL MYERS SQUIBB COM 110122108   8,138,288 157,292 SH   SOLE   157,292 0 0
CAMECO CORP COM 13321l108   27,667,559 579,304 SH   SOLE   579,304 0 0
CENOVUS ENERGY, INC. COM 15135U109   7,173,075 428,755 SH   SOLE   428,755 0 0
CHEVRON COM 166764100   35,388,981 240,300 SH   SOLE   240,300 0 0
CHUBB LTD INC COM H1467J104   613,982 2,129 SH   SOLE   2,129 0 0
CISCO SYSTEMS COM 17275R102   7,747,289 145,571 SH   SOLE   145,571 0 0
CNH INDUSTRIAL NV COM n20944109   7,080,768 637,907 SH   SOLE   637,907 0 0
CONOCOPHILLIPS COM 20825c104   31,058,071 295,004 SH   SOLE   295,004 0 0
DEVON ENERGY COM 25179m103   3,355,792 85,782 SH   SOLE   85,782 0 0
DOLLAR GENERAL CORP COM 256677105   8,246,674 97,513 SH   SOLE   97,513 0 0
EASTMAN CHEMICAL COM 277432100   268,680 2,400 SH   SOLE   2,400 0 0
EXXON MOBIL COM 30231G102   50,903,244 434,254 SH   SOLE   434,254 0 0
FEDERATED HERMES, INC COM 314211103   15,379,142 418,252 SH   SOLE   418,252 0 0
FRANKLIN RESOURCES INC COM COM 354613101   11,803,216 585,768 SH   SOLE   585,768 0 0
FREEPORT-MCMORAN INC. COM 35671d857   11,430,931 228,985 SH   SOLE   228,985 0 0
GILEAD SCIENCES INC COM 375558103   17,416,855 207,739 SH   SOLE   207,739 0 0
GLATFELTER CORP COM 377320106   762,941 423,856 SH   SOLE   423,856 0 0
GRAFTECH INTERNATIONAL LTD COM 384313508   2,472,995 1,873,481 SH   SOLE   1,873,481 0 0
HP INC COM 40434L105   13,629,452 379,968 SH   SOLE   379,968 0 0
IMPERIAL OIL LTD COM 453038408   489,275 6,945 SH   SOLE   6,945 0 0
INTEL CORP. COM 458140100   12,965,967 552,684 SH   SOLE   552,684 0 0
INTERNATIONAL BUSINESS MACHINE COM 459200101   309,291 1,399 SH   SOLE   1,399 0 0
KRAFT HEINZ COMPANY COM 500754106   11,274,032 321,106 SH   SOLE   321,106 0 0
LOEWS COM 540424108   8,976,444 113,554 SH   SOLE   113,554 0 0
MARATHON PETROLEUM CORP COM 56585a102   802,983 4,929 SH   SOLE   4,929 0 0
MERCK AND CO. INC. COM 58933Y105   14,476,969 127,483 SH   SOLE   127,483 0 0
MOSAIC COM 61945c103   16,989,935 634,426 SH   SOLE   634,426 0 0
MURPHY OIL CORP COM 626717102   204,127 6,050 SH   SOLE   6,050 0 0
NEWMONT GOLDCORP COM 651639106   37,720,201 705,710 SH   SOLE   705,710 0 0
OVINTIV INC COM 69047q102   3,388,979 88,462 SH   SOLE   88,462 0 0
PARAMOUNT GLOBAL COM 92556H206   11,559,134 1,088,431 SH   SOLE   1,088,431 0 0
PARK AEROSPACE CORP COM 70014A104   6,068,840 465,759 SH   SOLE   465,759 0 0
PERMIAN BASIN ROYALTY TRUST COM 714236106   7,958,381 669,334 SH   SOLE   669,334 0 0
PFIZER INC COM COM 717081103   16,618,014 574,223 SH   SOLE   574,223 0 0
PHILLIPS 66 COM 718546104   8,607,609 65,482 SH   SOLE   65,482 0 0
RAYTHEON TECHNOLOGIES COM 75513E101   211,909 1,749 SH   SOLE   1,749 0 0
SAN JUAN BASIN ROYALTY TRUST COM 798241105   55,740 15,065 SH   SOLE   15,065 0 0
SANOFI COM 80105n105   15,751,489 273,321 SH   SOLE   273,321 0 0
TECK RESOURCES LTD CL B COM 878742204   52,762,118 1,009,995 SH   SOLE   1,009,995 0 0
TEJON RANCH CO COM 879080109   8,563,365 487,941 SH   SOLE   487,941 0 0
THE TRAVELERS COS., INC. COM 89417e109   623,930 2,665 SH   SOLE   2,665 0 0
TRANSOCEAN, LTD COM H8817H100   815,622 191,911 SH   SOLE   191,911 0 0
TSAKOS ENERGY NAVIGATION LTD COM g9108l173   9,132,033 363,826 SH   SOLE   363,826 0 0
VERIZON COMMUNICATIONS INC COM COM 92343V104   28,503,434 634,679 SH   SOLE   634,679 0 0
WAL-MART STORES COM 931142103   1,576,724 19,526 SH   SOLE   19,526 0 0