Welcome to our dedicated page for Mesabi Trust SEC filings (Ticker: MSB), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Want to know when the next royalty check might land in your account? Investors searching "Mesabi Trust insider trading Form 4 transactions" or "Mesabi Trust quarterly earnings report 10-Q filing" usually start with one question: what do the numbers really mean? Our SEC filings hub turns dense disclosures into clear answers, combining Mesabi Trust SEC filings explained simply with AI-generated context.
Here’s how to find what matters, fast:
- 10-K & 10-Q: The Mesabi Trust annual report 10-K simplified and each quarterly earnings report 10-Q filing reveal royalty income, tonnage shipped, and cash distribution policy. Our AI highlights year-over-year trends and flags price-sensitivity risks.
- Form 4: Track Mesabi Trust executive stock transactions Form 4 in real time. Instant alerts surface Mesabi Trust Form 4 insider transactions real-time so you can gauge trustee sentiment before payout dates.
- 8-K & Proxy: Mesabi Trust 8-K material events explained cover distribution announcements or changes in the operating agreement, while the Mesabi Trust proxy statement executive compensation details trustee fees and oversight duties.
Our platform layers AI-powered summaries, plain-language glossaries, and side-by-side comparisons so understanding Mesabi Trust SEC documents with AI feels effortless. Need deeper insight? The Mesabi Trust earnings report filing analysis pinpoints royalty per ton trends; distribution calculators project future payouts within seconds.
Whether you monitor iron-ore demand or just need a quick look at Mesabi Trust insider trading Form 4 transactions, you’ll find every filing the moment EDGAR posts it—complete, searchable, and annotated for the unique economics of a royalty trust.
Mesabi Trust reported receipt of $4,005,142 in quarterly royalties on October 30, 2025, based on Northshore Mining’s iron ore shipments for the quarter ended September 30, 2025. The payment included a base royalty of $2,817,500 and a bonus royalty of $973,410, with $214,232 paid to the Mesabi Land Trust.
Cliffs credited the Trust with 987,370 tons of iron ore shipped in the quarter, up from 972,154 tons in the prior-year period. The report noted three pellet sales to a single third party in September 2025 that remain subject to continued due diligence review, and indicated that royalty calculations are based on prices that are subject to change.
Management reiterated that royalties can vary significantly due to shipment volumes, pricing, mine operating decisions, customer schedules, industry conditions, and Great Lakes weather, so any single quarter’s distributions may not indicate future levels.
Mesabi Trust (MSB): Schedule 13G/A filed by Horizon Kinetics Asset Management LLC. The filer reports beneficial ownership of 2,999,326 units of beneficial interest, representing 22.9% of the class. The filing lists sole voting power over 2,999,326 units and sole dispositive power over 2,999,326 units, with no shared voting or dispositive power.
The “Date of Event Which Requires Filing of this Statement” is 08/19/2025. The certification states the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer.
Mesabi Trust (MSB) reports royalty-based revenue driven by base overriding royalties, royalty bonuses, fee royalties and minimum advance royalties. Net income per unit is calculated on 13,120,010 units. The report records a final arbitration award of 71,185,029 (including interest) recognized as non-recurring "Arbitration Award" revenue in the quarter ended October 31, 2024.
Base overriding royalties are the largest revenue source and are calculated as a percentage of gross proceeds, ranging from 2.5% for the first one million tons to 6% for shipments above four million tons. Royalty bonuses apply when sales exceed an annual threshold price, set at $69.41/ton for 2025 (was $67.75/ton for 2024) with bonus percentages from 0.5% up to 3%. The minimum advance royalty is $1,157,261 for 2025 and was $1,129,615 for 2024, with quarterly payments up to 25% until earned royalties offset advances. A distribution of $0.12 per unit (total $1,574,401) is payable Aug 20, 2025 to holders of record July 30, 2025; prior quarter distribution payable was $0.30 per unit.
ValueWorks LLC and its managing member, Charles Lemonides, report shared voting and shared dispositive power over 685,846 Units of Beneficial Interest in Mesabi Trust, representing 5.23% of the class. The holdings are stated as directly owned by advisory clients of ValueWorks LLC, and none of those clients are identified as owning more than 5% individually. Both reporting persons record 0 sole voting or dispositive power and disclaim beneficial ownership except for pecuniary interest. Exhibits referenced include a joint filing agreement and control person identification.
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