Mesabi Trust (MSB) shareholders
MSBNYSEMineral Royalty TradersFiscal year ends January 31
Financials through Q2 FY2026, quarter ended Jul 31, 2026Last filing: 10-Q on Sep 11, 2026Score 9/303% below fair value
$16.23−0.93 (-5.42%)
Close on Nov 13, 2026Market cap $212.94MP/E 33.1Yield –
Ownership
Institutional holdings as of Jun 30, 2026, from 13F filings
Held by institutions
50.3%
7M of 13M shares
Institutional holders
62
6 new, 14 sold out
Net institutional buying
-0M
In Q2 2026
Insider trades, 12 months
0 buys · 0 sales
Open-market trades only
Shares held by institutions
Holders of more than 5%
Latest Schedule 13D (active) or 13G (passive) filed by each holder
| Holder | Shares | % of class | Filing | As of |
|---|---|---|---|---|
| Horizon Kinetics Asset Management LLC Joint filing with Horizon Kinetics Holding Corp (25.00%) | 3,279,971 | 25.00% | 13G (passive) amendment | Sep 30, 2026 |
| Valueworks LLC Joint filing with Charles Lemonides (5.23%) | 685,846 | 5.23% | 13G (passive) amendment | Jun 30, 2025 |
Top institutional holders
13F holdings as of Jun 30, 2026
| Holder | Shares | % of MSB | Value | Change | % of portfolio |
|---|---|---|---|---|---|
| Horizon Kinetics Asset Management LLC | 3,219,382 | 24.54% | $81.45M | +78,410 | 0.92% |
| Valueworks LLC | 669,733 | 5.10% | $16.94M | +23,151 | 3.54% |
| CWA Asset Management Group, LLC | 518,974 | 3.96% | $13.13M | +71,489 | 0.40% |
| First Manhattan Co. LLC. | 396,373 | 3.02% | $10.03M | +86,313 | 0.03% |
| Mad River Investors | 323,735 | 2.47% | $8.19M | +2,189 | 3.05% |
| Advisory Services Network, LLC | 185,669 | 1.42% | $4.70M | +1,040 | 0.05% |
| Moors & Cabot, Inc. | 178,289 | 1.36% | $4.51M | −2,656 | 0.18% |
| EagleClaw Capital Managment, LLC | 170,575 | 1.30% | $4.32M | +800 | 0.58% |
| Morgan Stanley | 113,293 | 0.86% | $2.87M | −752 | 0.00% |
| Bank of New York Mellon Corp | 101,464 | 0.77% | $2.57M | +1,266 | 0.00% |
| Sei Investments Co | 83,883 | 0.64% | $2.12M | −83,883 | 0.00% |
| Lido Advisors, LLC | 79,982 | 0.61% | $2.02M | +1 | 0.01% |
| Geode Capital Management, LLC | 59,649 | 0.45% | $1.51M | +2,139 | 0.00% |
| Royal Bank of Canada | 54,825 | 0.42% | $1.39M | +3,709 | 0.00% |
| Bank Of America Corp /De/ | 44,658 | 0.34% | $1.13M | −133,223 | 0.00% |
| JPMorgan Chase & Co | 36,572 | 0.28% | $873.34K | +268 | 0.00% |
| Pecaut & Co. | 33,963 | 0.26% | $859.26K | – | 0.26% |
| Nbc Securities, Inc. | 30,742 | 0.23% | $777.77K | – | 0.05% |
| HighTower Advisors, LLC | 25,616 | 0.20% | $648.08K | −900 | 0.00% |
| Steward Partners Investment Advisory, LLC | 24,638 | 0.19% | $623.34K | +378 | 0.00% |
Institutional buying and selling by quarter
Positions opened, added to, reduced and closed by 13F filers
| Quarter | Holders | Shares held | % of shares | New / added | Reduced / closed | Shares bought | Shares sold |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 62 | 7M | 50.3% | 6 / 21 | 16 / 14 | 0M | 0M |
| Q1 2026 | 73 | 7M | 50.9% | 9 / 23 | 23 / 17 | 1M | 0M |
| Q4 2025 | 83 | 6M | 49.2% | 19 / 28 | 20 / 7 | 0M | 0M |
| Q3 2025 | 71 | 6M | 47.0% | 15 / 26 | 14 / 8 | 0M | 0M |
| Q2 2025 | 64 | 6M | 45.6% | 11 / 21 | 17 / 11 | 0M | 0M |
| Q1 2025 | 64 | 6M | 44.0% | 11 / 29 | 10 / 8 | 0M | 1M |
| Q4 2024 | 61 | 6M | 46.3% | 17 / 20 | 13 / 2 | 1M | 0M |
| Q3 2024 | 47 | 6M | 42.8% | 5 / 19 | 11 / 4 | 0M | 0M |
| Q2 2024 | 47 | 6M | 42.0% | 5 / 18 | 14 / 8 | 0M | 0M |
| Q1 2024 | 50 | 6M | 42.6% | 5 / 18 | 13 / 6 | 0M | 0M |
| Q4 2023 | 51 | 6M | 43.3% | 10 / 14 | 15 / 5 | 0M | 0M |
| Q3 2023 | 46 | 5M | 41.6% | 6 / 14 | 13 / 4 | 0M | 0M |
Top mutual fund and ETF holders
Latest monthly portfolio reports (Form N-PORT)
16 funds held MSB in Q2 2026, 72% of their shares through ETFs. Each fund counts once per quarter, from its quarter-end report.
| Fund | Shares | % of MSB | Value | % of fund | As of |
|---|---|---|---|---|---|
| Horizon Kinetics Inflation Beneficiaries ETF | 393,971 | 3.00% | $9.97M | 0.68% | Jun 30, 2026 |
| 1290 VT Small Cap Value Portfolio | 170,184 | 1.30% | $4.31M | 0.91% | Jun 30, 2026 |
| WisdomTree U.S. SmallCap Dividend Fund | 71,068 | 0.54% | $1.80M | 0.08% | Jun 30, 2026 |
| Kinetics Small Cap Opportunities Portfolio | 50,200 | 0.38% | $1.27M | 0.24% | Jun 30, 2026 |
| Fidelity Small-Mid Multifactor ETF | 44,641 | 0.34% | $981.66K | 0.04% | Jul 31, 2026 |
| Kinetics Paradigm Portfolio | 41,800 | 0.32% | $1.06M | 0.09% | Jun 30, 2026 |
| Kinetics Market Opportunities Portfolio | 41,482 | 0.32% | $1.05M | 0.35% | Jun 30, 2026 |
| Kinetics Internet Portfolio | 37,900 | 0.29% | $958.87K | 0.39% | Jun 30, 2026 |
| Kinetics Global Portfolio | 20,918 | 0.16% | $529.23K | 1.05% | Jun 30, 2026 |
| WisdomTree U.S. SmallCap Fund | 20,514 | 0.16% | $519.00K | 0.07% | Jun 30, 2026 |
| WisdomTree U.S. High Dividend Fund | 9,881 | 0.08% | $249.99K | 0.02% | Jun 30, 2026 |
| Fidelity ZERO Total Market Index Fund | 7,121 | 0.05% | $156.59K | 0.00% | Jul 31, 2026 |
| Fidelity ZERO Extended Market Index Fund | 5,080 | 0.04% | $111.71K | 0.00% | Jul 31, 2026 |
| Fidelity Flex Small Cap Index Fund | 2,006 | 0.02% | $44.11K | 0.01% | Jul 31, 2026 |
| VIP Extended Market Index Portfolio | 1,184 | 0.01% | $29.96K | 0.00% | Jun 30, 2026 |
Insider trades
Common stock transactions reported on Form 4, newest first
| Insider | Date | Transaction | Shares | Price | Value | Shares after |
|---|---|---|---|---|---|---|
| Robin M. Radke – | Jun 11, 2019 | Buy | +498 | $29.50 | $14.69K | 595 |
| Robin M. Radke – | May 20, 2019 | Small purchase | +2.81 | $29.89 | $84 | 97 |
| Robin M. Radke – | Feb 20, 2019 | Small purchase | +4.33 | $28.87 | $125 | 94 |
| James A. Ehrenberg – | Oct 28, 2008 | Buy | +500 | $11.57 | $5.79K | 3,000 |
| James A. Ehrenberg – | Oct 24, 2008 | Buy | +500 | $13.27 | $6.64K | 2,500 |
| James A. Ehrenberg – | Oct 20, 2008 | Buy | +500 | $15.94 | $7.97K | 2,000 |
| James A. Ehrenberg – | Jul 30, 2007 | Buy | +300 | $19.19 | $5.76K | 1,500 |
| James A. Ehrenberg – | Jul 30, 2007 | Buy | +700 | $19.20 | $13.44K | 1,200 |
| James A. Ehrenberg – | May 24, 2006 | Buy | +300 | $18.19 | $5.46K | 500 |
| James A. Ehrenberg – | Apr 25, 2006 | Buy | +200 | $22.79 | $4.56K | 200 |
Awards, option exercises, tax withholding and gifts are shown alongside open-market buys and sales. Each name links to the filing on SEC EDGAR.
Short interest
Shares sold short and not yet bought back, as of Oct 30, 2026 (FINRA, reported twice a month)
Short % of float
0.92%
0M shares short
Days to cover
2.6
At 0M shares a day
Change since last report
+35.0%
From 0M shares
Short volume, 20 days
37.9%
Of volume reported to FINRA
Shares sold short, last 12 months
Short sale volume counts trades marked short on any given day, including market-maker hedging, so it runs far higher than the share of Mesabi Trust's stock actually held short. Settlement fails (shares not delivered on time) peaked at 40,288 shares on Aug 24, 2026 over the last 90 days.
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