Vault-13

MESABI TR MSB

CTF BEN INT · Royalty Trst · CUSIP 590672101

62 institutional holders -11 vs Q1 2026
6,601,0466.6m shares reported held*
50.3% of all shares outstanding*
$167.0mreported value*
6 new 21 added 16 reduced 14 sold out net sold ≈ $633.6k (-25.0k shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once. Holder counts are more reliable. Shares outstanding: 13.1m as of 2026-06-12, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $25.29. Options: 3 managers hold calls ($1.2m notional), 2 hold puts ($263.1k).

Trends to Q2 2026

Institutional holders

Managers reporting a position, each quarter

050100Q3 22: 55Q4 22: 53Q1 23: 43Q2 23: 46Q3 23: 47Q4 23: 52Q1 24: 51Q2 24: 48Q3 24: 48Q4 24: 62Q1 25: 65Q2 25: 65Q3 25: 71Q4 25: 83Q1 26: 73Q2 26: 6262Q3 22Q3 23Q3 24Q3 25Q2 26
Numbers
QuarterHolders
Q3 202255
Q4 202253
Q1 202343
Q2 202346
Q3 202347
Q4 202352
Q1 202451
Q2 202448
Q3 202448
Q4 202462
Q1 202565
Q2 202565
Q3 202571
Q4 202583
Q1 202673
Q2 202662

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
50050Q3 24: 24 bought or addedQ3 24: 15 cut or sold outQ4 24: 31 bought or addedQ4 24: 15 cut or sold outQ4 24Q1 25: 40 bought or addedQ1 25: 18 cut or sold outQ2 25: 32 bought or addedQ2 25: 28 cut or sold outQ2 25Q3 25: 40 bought or addedQ3 25: 22 cut or sold outQ4 25: 42 bought or addedQ4 25: 27 cut or sold outQ4 25Q1 26: 32 bought or addedQ1 26: 40 cut or sold outQ2 26: 27 bought or addedQ2 26: 30 cut or sold outQ2 26
Numbers
QuarterBought or addedCut or sold out
Q3 20242415
Q4 20243115
Q1 20254018
Q2 20253228
Q3 20254022
Q4 20254227
Q1 20263240
Q2 20262730

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$500k$1m$1.5mQ3 25 calls: $34.3kQ3 25 puts: $295.6kQ3 25P/C 8.63Q4 25 calls: $762.7kQ4 25 puts: $651.0kQ4 25P/C 0.85Q1 26 calls: $1.1mQ1 26 puts: $545.0kQ1 26P/C 0.51Q2 26 calls: $1.2mQ2 26 puts: $263.1kQ2 26P/C 0.22
Numbers
QuarterCallsPutsP/C
Q3 2025$34.3k$295.6k8.63
Q4 2025$762.7k$651.0k0.85
Q1 2026$1.1m$545.0k0.51
Q2 2026$1.2m$263.1k0.22

Biggest buyers

FIRST MANHATTAN CO. LLC. Added +86,313+86.3k
HORIZON KINETICS ASSET MANAGEMENT LLC Added +78,410+78.4k
CWA Asset Management Group, LLC Added +71,489+71.5k
VALUEWORKS LLC Added +23,151+23.2k
PKS Advisory Services, LLC New +15,975+16.0k
TWO SIGMA INVESTMENTS, LP New +14,520+14.5k
XTX Topco Ltd New +12,692+12.7k
ROYAL BANK OF CANADA Added +3,709+3.7k
Inspire Advisors, LLC Added +3,275+3.3k
BNP PARIBAS FINANCIAL MARKETS New +2,500+2.5k

Biggest sellers

BANK OF AMERICA CORP /DE/ Reduced -133,223-133.2k
SEI INVESTMENTS CO Reduced -83,883-83.9k
Redhawk Wealth Advisors, Inc. Sold out -34,141-34.1k
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP Sold out -15,734-15.7k
Verdad Advisers, LP Sold out -10,303-10.3k
O'SHAUGHNESSY ASSET MANAGEMENT, LLC Sold out -8,618-8.6k
AMERIPRISE FINANCIAL INC Sold out -7,844-7.8k
Atlas Wealth Partners, LLC Sold out -7,470-7.5k
BANK OF MONTREAL /CAN/ Sold out -7,401-7.4k
BOURGEON CAPITAL MANAGEMENT LLC Sold out -6,999-7.0k

Biggest calls

CITADEL ADVISORS LLC Added $888.0k35.1k shares
JANE STREET GROUP, LLC New $316.2k12.5k shares
SIMPLEX TRADING, LLC Reduced $17.7k700 shares

Biggest puts

SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $237.8k9.4k shares
SIMPLEX TRADING, LLC Reduced $25.3k1.0k shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Major shareholders (over 5%)

Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.

HolderStakeChangeShares Last filed
HORIZON KINETICS ASSET MANAGEMENT LLC 13G · institution +1.0 pts · filed 2026-04-29 23.9% +1.0 pts 3.1m≈ $79.5m 2026-04-29
VALUEWORKS LLC 13G · institution filed 2025-08-14 5.2% 685.8k≈ $17.4m 2025-08-14

Insider purchases and sales since 1 Apr 2026

Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.

None reported since 1 Apr 2026.

Holders, Q2 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 HORIZON KINETICS ASSET MANAGEMENT LLC 0.92% of their portfolio NEW YORK, NY 3,219,3823.2m $81.5m $81.5m 0.92% Added +78.4k +78,410
2 VALUEWORKS LLC 3.54% of their portfolio NEW YORK, NY 669,733669.7k $16.9m $16.9m 3.54% Added +23.2k +23,151
3 CWA Asset Management Group, LLC 0.40% of their portfolio NAPLES, FL 518,974519.0k $13.1m $13.1m 0.40% Added +71.5k +71,489
4 FIRST MANHATTAN CO. LLC. 0.03% of their portfolio NEW YORK, NY 396,373396.4k $10.0m $10.0m 0.03% Added +86.3k +86,313
5 MAD RIVER INVESTORS 3.06% of their portfolio BOSTON, MA 323,735323.7k $8.2m $8.2m 3.06% Added +2.2k +2,189
6 Advisory Services Network, LLC 0.05% of their portfolio ATLANTA, GA 185,669185.7k $4.7m $4.7m 0.05% Added +1.0k +1,040
7 Moors & Cabot, Inc. 0.18% of their portfolio BOSTON, MA 178,289178.3k $4.5m $4.5m 0.18% Reduced -2.7k -2,656
8 EagleClaw Capital Managment, LLC 0.58% of their portfolio BOSTON, MA 170,575170.6k $4.3m $4.3m 0.58% Added +800 +800
9 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 113,293113.3k $2.9m $2.9m 0.00% Reduced -752 -752
10 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 101,464101.5k $2.6m $2.6m 0.00% Added +1.3k +1,266
11 SEI INVESTMENTS CO 0.00% of their portfolio OAKS, PA 83,88383.9k $2.1m $2.1m 0.00% Reduced -83.9k -83,883
12 Lido Advisors, LLC 0.01% of their portfolio Los Angeles, CA 79,98280.0k $2.0m $2.0m 0.01% Added +1 +1
13 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 59,64959.6k $1.5m $1.5m 0.00% Added +2.1k +2,139
14 ROYAL BANK OF CANADA 0.00% of their portfolio TORONTO, A6 54,82554.8k $1.4m $1.4m 0.00% Added +3.7k +3,709
15 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 44,65844.7k $1.1m $1.1m 0.00% Reduced -133.2k -133,223
16 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 36,57236.6k $873.3k $873.3k 0.00% Added +268 +268
17 PECAUT & CO. 0.26% of their portfolio SIOUX CITY, IA 33,96334.0k $859.3k $859.3k 0.26% Unchanged
18 LANARK FINANCIAL, INC. 0.05% of their portfolio BIRMINGHAM, AL 30,74230.7k $777.8k $777.8k 0.05% Unchanged
19 HighTower Advisors, LLC 0.00% of their portfolio CHICAGO, IL 25,61625.6k $648.1k $648.1k 0.00% Reduced -900 -900
20 Steward Partners Investment Advisory, LLC 0.00% of their portfolio STAMFORD, CT 24,63824.6k $623.3k $623.3k 0.00% Added +378 +378
21 COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio WALTHAM, MA 18,07118.1k $457.2k $457.2k 0.00% Reduced -940 -940
22 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 17,65817.7k $446.7k $446.7k 0.00% Reduced -334 -334
23 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 17,07717.1k $432.0k $432.0k 0.00% Unchanged
24 Westmount Partners, LLC 0.09% of their portfolio LOS ANGELES, CA 16,85616.9k $426.5k $426.5k 0.09% Unchanged
25 One Charles Private Wealth Services, LLC 0.09% of their portfolio HINGHAM, MA 16,23016.2k $410.6k $410.6k 0.09% Reduced -1.0k -1,033
26 PKS Advisory Services, LLC 0.06% of their portfolio ALBANY, NY 15,97516.0k $404.2k $404.2k 0.06% New
27 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 15,68315.7k $396.8k $396.8k 0.00% Reduced -3.0k -2,979
28 Janney Montgomery Scott LLC 0.00% of their portfolio PHILADELPHIA, PA 15,07015.1k $381.0k $381.0k 0.00% Reduced -2.0k -2,030
29 UBS Group AG 0.00% of their portfolio ZURICH, V8 14,89314.9k $376.8k $376.8k 0.00% Reduced -5.4k -5,411
30 TWO SIGMA INVESTMENTS, LP 0.00% of their portfolio NEW YORK, NY 14,52014.5k $367.4k $367.4k 0.00% New
31 Essex Financial Services, Inc. 0.02% of their portfolio ESSEX, CT 14,03114.0k $355.0k $355.0k 0.02% Added +118 +118
32 XTX Topco Ltd 0.00% of their portfolio LONDON, X0 12,69212.7k $321.1k $321.1k 0.00% New
33 Acorn Wealth Advisors, LLC 0.07% of their portfolio Grand Blanc, MI 11,00011.0k $278.3k $278.3k 0.07% Unchanged
34 Inspire Advisors, LLC 0.02% of their portfolio Meridian, ID 10,70310.7k $270.8k $270.8k 0.02% Added +3.3k +3,275
35 STEINBERGANNA WEALTH MANAGEMENT 0.11% of their portfolio HUNTINGTON, NY 10,46510.5k $264.8k $264.8k 0.11% Added +570 +570
36 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 9,3049.3k $235.4k $235.4k 0.00% Reduced -3.3k -3,288
37 Quent Capital, LLC 0.00% of their portfolio NEW YORK, NY 3,0413.0k $73.1k $73.1k 0.00% Unchanged
38 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 2,5002.5k $63.2k $63.2k 0.00% New
39 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 1,9421.9k $49.2k $49.2k 0.00% Reduced -2.9k -2,945
40 NewEdge Advisors, LLC 0.00% of their portfolio NEW ORLEANS, LA 1,6431.6k $41.6k $41.6k 0.00% Added +5 +5
41 Farther Finance Advisors, LLC 0.00% of their portfolio SAN FRANCISCO, CA 1,5061.5k $38.1k $38.1k 0.00% Added +8 +8
42 Medallion Wealth Advisors, LLC 0.01% of their portfolio FARMINGTON, CT 1,2401.2k $31.4k $31.4k 0.01% Unchanged
43 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 1,0841.1k $27.4k $27.4k 0.00% Added +255 +255
44 MARK SHEPTOFF FINANCIAL PLANNING, LLC 0.01% of their portfolio GLASTONBURY, CT 1,0001.0k $25.3k $25.3k 0.01% Unchanged
45 United Financial Planning Group LLC 0.01% of their portfolio HAUPPAUGE, NY 1,0001.0k $25.3k $25.3k 0.01% New
46 FIFTH THIRD BANCORP 0.00% of their portfolio CINCINNATI, OH 550550 $13.9k $13.9k 0.00% Unchanged
47 Cullen/Frost Bankers, Inc. 0.00% of their portfolio San Antonio, TX 500500 $12.7k $12.7k 0.00% Unchanged
48 Allworth Financial LP 0.00% of their portfolio FOLSOM, CA 500500 $12.7k $12.7k 0.00% Unchanged
49 Golden State Wealth Management, LLC 0.00% of their portfolio SANTA ANA, CA 500500 $12.7k $12.7k 0.00% Unchanged
50 BEACON INVESTMENT ADVISORY SERVICES, INC. 0.00% of their portfolio MORRISTOWN, NJ 300300 $7.6k $7.6k 0.00% Unchanged
51 Godfrey Financial Associates, Inc. 0.01% of their portfolio GLENMONT, NY 300300 $7.6k $7.6k 0.01% Unchanged
52 Tower Research Capital LLC (TRC) 0.00% of their portfolio NEW YORK, NY 278278 $7.0k $7.0k 0.00% Added +76 +76
53 Bernard Wealth Management Corp. 0.00% of their portfolio ROYAL OAK, MI 251251 $6.4k $6.4k 0.00% Added +2 +2
54 CoreCap Advisors, LLC 0.00% of their portfolio SOUTHFIELD, MI 200200 $5.1k $5.1k 0.00% Unchanged
55 SIMPLEX TRADING, LLC 0.00% of their portfolio CHICAGO, IL 162162 $4.1k $4.1k 0.00% Reduced -2.3k -2,321
56 Aventura Private Wealth, LLC 0.00% of their portfolio AVENTURA, FL 128128 $3.2k $3.2k 0.00% Unchanged
57 Financial Perspectives, Inc 0.00% of their portfolio MINNEAPOLIS, MN 100100 $2.5k $2.5k 0.00% Unchanged
58 FMR LLC 0.00% of their portfolio BOSTON, MA 2727 $683 $683 0.00% Reduced -10 -10
59 GAMMA Investing LLC 0.00% of their portfolio FOSTER CITY, CA 2626 $658 $658 0.00% Reduced -14 -14
60 ASSETMARK, INC 0.00% of their portfolio CONCORD, CA 1818 $455 $455 0.00% Unchanged
61 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 66 $152 $152 0.00% New
62 HUNTINGTON NATIONAL BANK 0.00% of their portfolio COLUMBUS, OH 11 $25 $25 0.00% Unchanged