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 4,653 41,311 SH   SOLE   41,311 0 0
APACHE CORP COM 03743Q108 2,268 104,864 SH   SOLE   104,864 0 0
BAKER HUGHES A GE CO CL A COM 05722g100 898 39,267 SH   SOLE   39,267 0 0
BANCORPSOUTH BANK COM 05971j102 743 26,213 SH   SOLE   26,213 0 0
BARRICK GOLD CORP COM 067901108 13,003 628,784 SH   SOLE   628,051 0 733
BERKSHIRE HATHAWAY CL B COM 084670702 30,856 111,024 SH   SOLE   110,857 0 167
BERKSHIRE HATHAWAY HLD A COM 084670108 2,093 5 SH   SOLE   5 0 0
CAMECO CORP COM 13321l108 15,839 825,817 SH   SOLE   823,882 0 1,935
CENOVUS ENERGY, INC. COM 15135U109 2,988 311,948 SH   SOLE   311,761 0 187
CHEVRON COM 166764100 23,339 222,832 SH   SOLE   222,699 0 133
CHUBB LTD INC COM H1467J104 244 1,537 SH   SOLE   1,537 0 0
CISCO SYSTEMS COM 17275R102 7,864 148,371 SH   SOLE   148,204 0 167
CONOCOPHILLIPS COM 20825c104 19,640 322,494 SH   SOLE   322,091 0 403
CORNING COM 219350105 4,216 103,072 SH   SOLE   102,799 0 273
DEVON ENERGY COM 25179m103 1,863 63,838 SH   SOLE   63,838 0 0
EASTMAN CHEMICAL COM 277432100 350 3,000 SH   SOLE   3,000 0 0
EXXON MOBIL COM 30231G102 26,355 417,796 SH   SOLE   416,983 0 813
FEDERATED HERMES, INC COM 314211103 12,748 375,947 SH   SOLE   375,195 0 752
FRANKLIN RES INC COM 354613101 14,464 452,156 SH   SOLE   451,556 0 600
FREEPORT-MCMORAN INC. COM 35671d857 8,886 239,438 SH   SOLE   239,438 0 0
GILEAD SCIENCES INC COM 375558103 10,867 157,814 SH   SOLE   157,614 0 200
HP INC COM 40434L105 9,967 330,141 SH   SOLE   329,541 0 600
IMPERIAL OIL LTD COM 453038408 326 10,725 SH   SOLE   10,725 0 0
INTEL CORP. COM 458140100 5,076 90,414 SH   SOLE   90,147 0 267
INTERNATIONAL BUSINESS MACHINE COM 459200101 223 1,524 SH   SOLE   1,524 0 0
JEFFERIES FINANCIAL GROUP INC COM 47233w109 15,857 463,658 SH   SOLE   462,525 0 1,133
KRAFT HEINZ COMPANY COM 500754106 11,598 284,394 SH   SOLE   283,994 0 400
LOEWS COM 540424108 7,501 137,249 SH   SOLE   137,249 0 0
LUMEN TECHNOLOGIES COM 550241103 29,083 2,140,011 SH   SOLE   2,135,764 0 4,247
MARATHON PETROLEUM CORP COM 56585a102 340 5,634 SH   SOLE   5,634 0 0
MERCK AND CO. INC. COM 58933Y105 17,160 220,654 SH   SOLE   220,227 0 427
MOSAIC COM 61945c103 20,990 657,802 SH   SOLE   656,869 0 933
NEWMONT GOLDCORP COM 651639106 38,707 610,716 SH   SOLE   610,036 0 680
NOKIA COM 654902204 73 13,790 SH   SOLE   13,790 0 0
ORGANON & CO COM 68622v106 668 22,060 SH   SOLE   22,018 0 42
OVINTIV INC COM 69047q102 2,722 86,488 SH   SOLE   86,184 0 304
PEMBINA PIPELINE CORP COM 706327103 1,365 42,950 SH   SOLE   42,950 0 0
PERMIAN BASIN ROYALTY TRUST COM 714236106 4,175 742,920 SH   SOLE   741,853 0 1,067
PFIZER COM 717081103 15,982 408,110 SH   SOLE   407,310 0 800
PHILLIPS 66 COM 718546104 5,749 66,993 SH   SOLE   66,993 0 0
PRECISION DRILLING CORP COM 74022d407 898 21,533 SH   SOLE   21,443 0 90
SAN JUAN BASIN ROYALTY TRUST COM 798241105 83 16,125 SH   SOLE   16,125 0 0
SANOFI COM 80105n105 11,965 227,215 SH   SOLE   226,815 0 400
TECK RESOURCES LTD CL B COM 878742204 25,783 1,119,051 SH   SOLE   1,117,918 0 1,133
TEJON RANCH CO COM 879080109 6,168 405,536 SH   SOLE   404,749 0 787
THE TRAVELERS COS., INC. COM 89417e109 366 2,448 SH   SOLE   2,448 0 0
TRANSOCEAN, LTD COM H8817H100 1,277 282,581 SH   SOLE   282,314 0 267
TSAKOS ENERGY NAVIGATION LTD COM g9108l173 1,053 122,407 SH   SOLE   122,407 0 0
VIACOMCBS INC COM 92556h206 5,639 124,760 SH   SOLE   124,517 0 243
WAL-MART STORES COM 931142103 549 3,890 SH   SOLE   3,890 0 0