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 4,435 41,111 SH   SOLE   41,111 0 0
APACHE CORP COM 03743Q108 2,393 111,644 SH   SOLE   111,644 0 0
BAKER HUGHES A GE CO CL A COM 05722g100 971 39,267 SH   SOLE   39,267 0 0
BANCORPSOUTH BANK COM 05971j102 781 26,213 SH   SOLE   26,213 0 0
BARRICK GOLD CORP COM 067901108 11,392 631,133 SH   SOLE   630,400 0 733
BERKSHIRE HATHAWAY CL B COM 084670702 31,794 116,488 SH   SOLE   116,321 0 167
BERKSHIRE HATHAWAY HLD A COM 084670108 411 1 SH   SOLE   1 0 0
CAMECO CORP COM 13321l108 17,876 822,657 SH   SOLE   820,722 0 1,935
CENOVUS ENERGY, INC. COM 15135U109 3,167 314,763 SH   SOLE   314,576 0 187
CHEVRON COM 166764100 23,070 227,398 SH   SOLE   227,265 0 133
CHUBB LTD INC COM H1467J104 267 1,537 SH   SOLE   1,537 0 0
CISCO SYSTEMS COM 17275R102 8,015 147,253 SH   SOLE   147,086 0 167
CONOCOPHILLIPS COM 20825c104 21,823 322,013 SH   SOLE   321,610 0 403
CORNING COM 219350105 3,748 102,702 SH   SOLE   102,429 0 273
DEVON ENERGY COM 25179m103 2,294 64,613 SH   SOLE   64,613 0 0
EASTMAN CHEMICAL COM 277432100 302 3,000 SH   SOLE   3,000 0 0
EXXON MOBIL COM 30231G102 24,769 421,096 SH   SOLE   420,283 0 813
FEDERATED HERMES, INC COM 314211103 12,211 375,724 SH   SOLE   374,972 0 752
FRANKLIN RES INC COM 354613101 13,495 454,079 SH   SOLE   453,479 0 600
FREEPORT-MCMORAN INC. COM 35671d857 7,731 237,662 SH   SOLE   237,662 0 0
GILEAD SCIENCES INC COM 375558103 11,047 158,152 SH   SOLE   157,952 0 200
GRAFTECH INTERNATIONAL LTD COM 384313508 5,902 571,897 SH   SOLE   570,760 0 1,137
HP INC COM 40434L105 8,967 327,740 SH   SOLE   327,140 0 600
IMPERIAL OIL LTD COM 453038408 338 10,725 SH   SOLE   10,725 0 0
INTEL CORP. COM 458140100 4,789 89,881 SH   SOLE   89,614 0 267
INTERNATIONAL BUSINESS MACHINE COM 459200101 212 1,524 SH   SOLE   1,524 0 0
JEFFERIES FINANCIAL GROUP INC COM 47233w109 8,398 226,173 SH   SOLE   225,651 0 522
KRAFT HEINZ COMPANY COM 500754106 11,229 304,968 SH   SOLE   304,568 0 400
LOEWS COM 540424108 7,402 137,249 SH   SOLE   137,249 0 0
LUMEN TECHNOLOGIES COM 550241103 26,575 2,144,908 SH   SOLE   2,140,661 0 4,247
MARATHON PETROLEUM CORP COM 56585a102 348 5,634 SH   SOLE   5,634 0 0
MERCK AND CO. INC. COM 58933Y105 16,506 219,754 SH   SOLE   219,327 0 427
MOSAIC COM 61945c103 23,453 656,571 SH   SOLE   655,638 0 933
NEWMONT GOLDCORP COM 651639106 33,174 610,938 SH   SOLE   610,258 0 680
ORGANON & CO COM 68622v106 718 21,910 SH   SOLE   21,868 0 42
OVINTIV INC COM 69047q102 2,780 84,552 SH   SOLE   84,248 0 304
PEMBINA PIPELINE CORP COM 706327103 1,361 42,950 SH   SOLE   42,950 0 0
PERMIAN BASIN ROYALTY TRUST COM 714236106 4,232 738,620 SH   SOLE   737,553 0 1,067
PFIZER COM 717081103 17,492 406,696 SH   SOLE   405,896 0 800
PHILLIPS 66 COM 718546104 4,690 66,967 SH   SOLE   66,967 0 0
PRECISION DRILLING CORP COM 74022d407 864 21,383 SH   SOLE   21,293 0 90
SAN JUAN BASIN ROYALTY TRUST COM 798241105 82 16,125 SH   SOLE   16,125 0 0
SANOFI COM 80105n105 11,300 234,397 SH   SOLE   233,997 0 400
TECK RESOURCES LTD CL B COM 878742204 27,956 1,122,280 SH   SOLE   1,121,147 0 1,133
TEJON RANCH CO COM 879080109 7,239 407,601 SH   SOLE   406,814 0 787
THE TRAVELERS COS., INC. COM 89417e109 372 2,448 SH   SOLE   2,448 0 0
TRANSOCEAN, LTD COM H8817H100 1,069 281,981 SH   SOLE   281,714 0 267
TSAKOS ENERGY NAVIGATION LTD COM g9108l173 1,456 136,036 SH   SOLE   136,036 0 0
VIACOMCBS INC COM 92556h206 11,920 301,697 SH   SOLE   301,093 0 604
WAL-MART STORES COM 931142103 542 3,890 SH   SOLE   3,890 0 0