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
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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
3M Company COM 88579Y101   1,061 9,999 SH   SOLE   9,999 0 0
AZZ Incorporated COM 002474104   317 4,100 SH   SOLE   4,100 0 0
AbbVie Inc. COM 00287Y109   8,130 44,646 SH   SOLE   44,646 0 0
Allstate Corporation COM 020002101   389 2,250 SH   SOLE   2,250 0 0
Alphabet Cl C COM 02079K305   369 2,425 SH   SOLE   2,425 0 0
Amazon.com COM 023135106   1,025 5,685 SH   SOLE   5,685 0 0
Apple Inc. COM 037833100   446 2,600 SH   SOLE   2,600 0 0
AutoZone, Inc. COM 053332102   1,264 401 SH   SOLE   401 0 0
Berkshire Hathaway COM 084670108   5,710 9 SH   SOLE   9 0 0
Berkshire Hathaway Cl B COM 084670702   7,067 16,805 SH   SOLE   16,805 0 0
Bristol-Myers Squibb Company COM 110122108   1,771 32,655 SH   SOLE   32,655 0 0
CVS Health Corp COM 126650100   2,512 31,500 SH   SOLE   31,500 0 0
Caterpillar COM 149123101   385 1,050 SH   SOLE   1,050 0 0
Cheniere Energy, Inc. COM 16411R208   5,977 37,060 SH   SOLE   37,060 0 0
Chevron Corp COM 166764100   300 1,900 SH   SOLE   1,900 0 0
Columbia Sportswear COM 198516106   296 3,650 SH   SOLE   3,650 0 0
ConocoPhillips Company COM 718507BK1   8,187 64,320 SH   SOLE   64,320 0 0
Costco Wholesale COM 22160K105   249 340 SH   SOLE   340 0 0
Coterra Energy Inc. COM 127097103   7,107 254,897 SH   SOLE   254,897 0 0
Diamondback Energy Inc COM 25278X109   2,143 10,815 SH   SOLE   10,815 0 0
Dollar General Corporation COM 256677105   1,901 12,180 SH   SOLE   12,180 0 0
EOG Resources, Inc. COM 26875P101   5,390 42,165 SH   SOLE   42,165 0 0
FRMO Corporation COM 30262F205   656 88,331 SH   SOLE   88,331 0 0
Intel Corp COM 458140100   6,091 137,910 SH   SOLE   137,910 0 0
International Business Machine COM 459200101   10,456 54,755 SH   SOLE   54,755 0 0
Johnson & Johnson COM 478160104   7,995 50,543 SH   SOLE   50,543 0 0
Keweenaw Land Association COM 493026108   308 13,348 SH   SOLE   13,348 0 0
Kinder Morgan, Inc. COM 49456B101   1,462 79,700 SH   SOLE   79,700 0 0
Merck & Co. COM 58933Y105   3,555 26,939 SH   SOLE   26,939 0 0
Mesabi Trust Ctfs COM 590672101   8,129 459,287 SH   SOLE   459,287 0 0
Mettler-Toledo Int'l Inc. COM 592688105   546 410 SH   SOLE   410 0 0
Microsoft Corp COM 594918104   326 775 SH   SOLE   775 0 0
Olympic Steel COM 68162K106   354 5,000 SH   SOLE   5,000 0 0
Oracle Corp COM 68389X105   4,023 32,027 SH   SOLE   32,027 0 0
Organon & Co. COM 68622V106   4,036 214,700 SH   SOLE   214,700 0 0
Pfizer, Inc COM 717081103   4,270 153,885 SH   SOLE   153,885 0 0
Texas Pacific Land Corporation COM 882610108   19,003 32,848 SH   SOLE   32,848 0 0
Timken Company COM 887389104   350 4,000 SH   SOLE   4,000 0 0
Viatris COM 92556V106   7,189 602,089 SH   SOLE   602,089 0 0
Bristol-Myers Squibb Contingen RTS 110122157   0 560,789 SH   SOLE   560,789 0 0
Surface Oncology Inc. RTS 868cvr010   21 20,000 SH   SOLE   20,000 0 0
ABB Ltd ADR 000375204   6,465 139,450 SH   SOLE   139,450 0 0
Accelleron Industries AG ORD ADR H0029X106   1,831 53,685 SH   SOLE   53,685 0 0
Autoliv, Inc. ADR 052800109   8,564 71,115 SH   SOLE   71,115 0 0
Banco Latinoamericano de Expor ADR P16994132   11,255 379,967 SH   SOLE   379,967 0 0
Equinor ASA ADR 109178103   453 16,745 SH   SOLE   16,745 0 0
Franco-Nevada Coporation ADR 351858105   6,780 56,899 SH   SOLE   56,899 0 0
Investor AB 'B' ORD W48102128   13,048 516,753 SH   SOLE   516,753 0 0
Nestle S.A. ADR 641069406   5,843 55,015 SH   SOLE   55,015 0 0
Novartis AG ADR 66987V109   313 3,240 SH   SOLE   3,240 0 0
Pershing Square Holdings ADR G7016V101   1,006 19,500 SH   SOLE   19,500 0 0
Pilot Corporation ORD J6378K106   3,494 134,741 SH   SOLE   134,741 0 0
SKF Aktiebolaget ADR 784375404   4,245 203,502 SH   SOLE   203,502 0 0
Shell plc ADR 780259305   4,082 60,896 SH   SOLE   60,896 0 0
Siemens AG ADR 826197501   7,563 79,256 SH   SOLE   79,256 0 0
Subaru Corporation ADR 86428V104   939 82,936 SH   SOLE   82,936 0 0
Triple Flag Precious Metals Co ADR 89679M104   375 25,925 SH   SOLE   25,925 0 0
Wheaton Precious Metals Corp ADR 962879102   4,455 94,523 SH   SOLE   94,523 0 0
Citigroup Cap XIII Tr Pfd PFD 173080201   7,199 244,270 SH   SOLE   244,270 0 0