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
1-800-Flowers.com Inc. COM 68243Q106 3,218 129,035 SH   SOLE   129,035 0 0
3M Company COM 88579Y101 1,002 6,255 SH   SOLE   6,255 0 0
AbbVie Inc. COM 00287Y109 3,130 35,730 SH   SOLE   35,730 0 0
Allstate Corporation COM 020002101 212 2,250 SH   SOLE   2,250 0 0
Amazon.com COM 023135106 812 258 SH   SOLE   258 0 0
Apple Inc. COM 037833100 208 1,800 SH   SOLE   1,800 0 0
Berkshire Hathaway COM 084670108 2,880 9 SH   SOLE   9 0 0
Berkshire Hathaway Cl B COM 084670702 3,526 16,560 SH   SOLE   16,560 0 0
Bristol-Myers Squibb Company COM 110122108 1,890 31,345 SH   SOLE   31,345 0 0
Calithera Biosciences, Inc COM 13089P101 78 22,750 SH   SOLE   22,750 0 0
Cimarex Energy Company COM 171798101 611 25,099 SH   SOLE   25,099 0 0
Cleveland-Cliffs Inc. COM 185899101 112 17,500 SH   SOLE   17,500 0 0
Columbia Sportswear COM 198516106 328 3,775 SH   SOLE   3,775 0 0
ConocoPhillips Company COM 718507BK1 951 28,965 SH   SOLE   28,965 0 0
Continental Resources COM 212015101 253 20,625 SH   SOLE   20,625 0 0
International Business Machine COM 459200101 5,669 46,591 SH   SOLE   46,591 0 0
Johnson & Johnson COM 478160104 6,460 43,388 SH   SOLE   43,388 0 0
Keweenaw Land Association COM 493026108 664 10,210 SH   SOLE   10,210 0 0
Kinder Morgan, Inc. COM 49456B101 1,667 135,185 SH   SOLE   135,185 0 0
Manitex International COM 563420108 63 15,000 SH   SOLE   15,000 0 0
Merck & Co. COM 58933Y105 2,290 27,606 SH   SOLE   27,606 0 0
Mesabi Trust Ctfs COM 590672101 8,695 409,740 SH   SOLE   409,740 0 0
Microsoft Corp COM 594918104 321 1,525 SH   SOLE   1,525 0 0
Pfizer, Inc COM 717081103 4,537 123,635 SH   SOLE   123,635 0 0
Powell Industries COM 739128106 261 10,800 SH   SOLE   10,800 0 0
Pure Cycle Corporation COM 746228303 158 17,500 SH   SOLE   17,500 0 0
Surface Oncology Inc. COM 86877M100 241 35,000 SH   SOLE   35,000 0 0
Texas Pacific Land Trust COM 882610108 4,726 10,465 SH   SOLE   10,465 0 0
Timken Company COM 887389104 893 16,475 SH   SOLE   16,475 0 0
Westinghouse Air Brake Technol COM 929740108 3,148 50,870 SH   SOLE   50,870 0 0
Wynn Resorts, Limited COM 983134107 358 4,990 SH   SOLE   4,990 0 0
iShares Russell 2000 Value Ind COM 464287630 247 2,487 SH   SOLE   2,487 0 0
Bristol-Myers Squibb Contingen RTS 110122157 1,190 528,783 SH   SOLE   528,783 0 0
ABB Ltd ADR 000375204 5,222 205,200 SH   SOLE   205,200 0 0
Anheuser-Busch InBev SA ADR 03524A108 3,597 66,760 SH   SOLE   66,760 0 0
Autoliv, Inc. ADR 052800109 3,853 52,866 SH   SOLE   52,866 0 0
BP plc ADR 055622104 1,201 68,795 SH   SOLE   68,795 0 0
Baidu, Inc. ADR 056752108 997 7,875 SH   SOLE   7,875 0 0
Banco Latinoamericano de Expor ADR P16994132 4,713 387,889 SH   SOLE   387,889 0 0
Franco-Nevada Coporation ADR 351858105 6,172 44,220 SH   SOLE   44,220 0 0
Investor AB 'B' ADR W48102128 8,881 135,174 SH   SOLE   135,174 0 0
Koninklijke Philips NV ADR 500472303 4,284 90,864 SH   SOLE   90,864 0 0
Liberty Global A plc ADR G5480U104 2,038 97,000 SH   SOLE   97,000 0 0
Nestle S.A. ADR 641069406 5,673 47,570 SH   SOLE   47,570 0 0
Orion Engineered Carbons, S.A. ADR L72967109 131 10,500 SH   SOLE   10,500 0 0
Pandora A/S ADS ADR 698341203 1,149 63,950 SH   SOLE   63,950 0 0
Pandora A/S ords ORD K7681L102 2,484 34,375 SH   SOLE   34,375 0 0
Royal Dutch Shell Cl B ADR 780259107 1,114 46,005 SH   SOLE   46,005 0 0
Siemens AG ADR 826197501 3,678 52,574 SH   SOLE   52,574 0 0
Talisker Resources Ltd ADR 87425A101 10 40,000 SH   SOLE   40,000 0 0
Wheaton Precios Metals Corp ADR 962879102 388 7,900 SH   SOLE   7,900 0 0