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 3,689 42,116 SH   SOLE   42,016 0 100
APACHE CORP COM 037411105 762 80,466 SH   SOLE   80,466 0 0
BAKER HUGHES A GE CO CL A COM 05722g100 670 50,440 SH   SOLE   50,240 0 200
BANCORPSOUTH BANK COM 05971j102 521 26,886 SH   SOLE   26,886 0 0
BARRICK GOLD CORP COM 067901108 16,945 602,794 SH   SOLE   600,294 0 2,500
BERKSHIRE HATHAWAY CL B COM 084670702 24,971 117,268 SH   SOLE   116,818 0 450
BERKSHIRE HATHAWAY HLD A COM 084670108 1,600 5 SH   SOLE   5 0 0
CAMECO CORP COM 13321l108 5,419 536,524 SH   SOLE   534,114 0 2,410
CENOVUS ENERGY, INC. COM 15135U109 1,275 327,653 SH   SOLE   327,123 0 530
CHEVRON COM 166764100 11,264 156,446 SH   SOLE   156,146 0 300
CISCO SYSTEMS COM 17275R102 6,206 157,549 SH   SOLE   156,896 0 653
CONOCOPHILLIPS COM 20825c104 10,362 315,530 SH   SOLE   314,623 0 907
CORNING COM 219350105 7,611 234,837 SH   SOLE   233,067 0 1,770
DEVON ENERGY COM 25179m103 660 69,732 SH   SOLE   69,732 0 0
EASTMAN CHEMICAL COM 277432100 234 3,000 SH   SOLE   3,000 0 0
EXXON MOBIL COM 30231G102 14,778 430,482 SH   SOLE   428,262 0 2,220
FEDERATED HERMES, INC COM 314211103 5,185 241,035 SH   SOLE   239,835 0 1,200
FORD MOTOR COM 345370860 107 16,080 SH   SOLE   15,680 0 400
FRANKLIN RES INC COM 354613101 8,602 422,705 SH   SOLE   420,905 0 1,800
FREEPORT-MCMORAN INC. COM 35671d857 3,989 255,059 SH   SOLE   254,399 0 660
GILEAD SCIENCES INC COM 375558103 9,522 150,693 SH   SOLE   150,093 0 600
HP INC COM 40434L105 6,586 346,823 SH   SOLE   345,123 0 1,700
IMPERIAL OIL LTD COM 453038408 128 10,725 SH   SOLE   10,725 0 0
INTEL CORP. COM 458140100 4,870 94,045 SH   SOLE   93,345 0 700
JEFFERIES FINANCIAL GROUP INC COM 47233w109 11,811 656,153 SH   SOLE   652,753 0 3,400
KRAFT HEINZ COMPANY COM 500754106 8,838 295,076 SH   SOLE   293,576 0 1,500
LOEWS COM 540424108 4,969 142,999 SH   SOLE   142,849 0 150
LUMEN TECHNOLOGIES COM 156700106 9,207 912,514 SH   SOLE   907,008 0 5,506
MERCK AND CO. INC. COM 58933Y105 19,448 234,458 SH   SOLE   233,218 0 1,240
MOSAIC COM 61945c103 11,905 651,598 SH   SOLE   648,898 0 2,700
NEWMONT GOLDCORP COM 651639106 38,965 614,103 SH   SOLE   611,521 0 2,582
NOBLE ENERGY COM 655044105 1,375 160,866 SH   SOLE   160,666 0 200
NOKIA COM 654902204 1,726 441,323 SH   SOLE   440,223 0 1,100
OVINTIV INC COM 69047q102 1,091 133,682 SH   SOLE   132,876 0 806
PEMBINA PIPELINE CORP COM 706327103 912 42,950 SH   SOLE   42,950 0 0
PERMIAN BASIN ROYALTY TRUST COM 714236106 1,981 798,881 SH   SOLE   796,076 0 2,805
PFIZER COM 717081103 14,282 389,151 SH   SOLE   387,051 0 2,100
PHILLIPS 66 COM 718546104 3,625 69,936 SH   SOLE   69,786 0 150
PILGRIM'S PRIDE COM 72147k108 230 15,355 SH   SOLE   15,355 0 0
PRECISION DRILLING CORP COM 74022d308 296 463,021 SH   SOLE   459,921 0 3,100
SAN JUAN BASIN ROYALTY TRUST COM 798241105 40 16,125 SH   SOLE   16,125 0 0
SANOFI COM 80105n105 11,828 235,754 SH   SOLE   234,554 0 1,200
SEACOR HOLDINGS INC COM 811904101 3,602 123,860 SH   SOLE   123,310 0 550
SIMMONS FIRST NATIONAL COM 828730200 175 11,014 SH   SOLE   11,014 0 0
TECK RESOURCES LIMITED FCLASS COM 878742204 15,353 1,102,922 SH   SOLE   1,097,822 0 5,100
TEJON RANCH CO COM 879080109 2,322 164,109 SH   SOLE   163,629 0 480
THE TRAVELERS COS., INC. COM 89417e109 379 3,499 SH   SOLE   3,499 0 0
TRANSOCEAN, LTD COM H8817H100 332 411,100 SH   SOLE   409,200 0 1,900
TSAKOS ENERGY NAVIGATION LTD COM g9108l173 743 93,874 SH   SOLE   93,774 0 100
TYSON FOODS COM 902494103 685 11,513 SH   SOLE   11,513 0 0
VIACOMCBS INC COM 92556h206 15,105 539,273 SH   SOLE   535,673 0 3,600
WAL-MART STORES COM 931142103 553 3,956 SH   SOLE   3,956 0 0