# Mesabi Trust: overview

MSB · NYSE · CIK 65172 · [Financials](/sectors/financials.md) · fiscal year ends Jan 31

Pages: [Overview](/companies/msb.md) · [Financials](/companies/msb/financials.md) · [Filings](/companies/msb/filings.md) · [Insiders](/companies/msb/insiders.md)

Latest reported revenue: [$2.5m](/filings/0001104659-26-107085.md) for Q2 FY2026, three months to 2026-07-31, from the 10-Q filed Sep 11, 2026 (XBRL us-gaap:Revenues, accession 0001104659-26-107085).

## Last eight quarters

| Line item | Unit | Q2 FY2023 (2024-07-31) | Q3 FY2023 (2024-10-31) | Q4 FY2024 (2025-01-31) | Q1 FY2025 (2025-04-30) | Q2 FY2025 (2025-07-31) | Q3 FY2025 (2025-10-31) | Q1 FY2026 (2026-04-30) | Q2 FY2026 (2026-07-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [6.5](/filings/0001104659-25-090029.md) | [79.0](/filings/0001104659-25-120673.md) | [6.9 d](/filings/0001558370-25-005426.md) | [4.7](/filings/0001104659-26-073470.md) | [5.6](/filings/0001104659-26-107085.md) | [3.6](/filings/0001104659-25-120673.md) | [2.2](/filings/0001104659-26-073470.md) | [2.5](/filings/0001104659-26-107085.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Net margin | % | [83.2%](/filings/0001104659-25-090029.md) | [99.1%](/filings/0001104659-25-120673.md) | [88.5% d](/filings/0001558370-25-005426.md) | [76.7%](/filings/0001104659-26-073470.md) | [84.6%](/filings/0001104659-26-107085.md) | [77.1%](/filings/0001104659-25-120673.md) | [48.4%](/filings/0001104659-26-073470.md) | [(3.8%)](/filings/0001104659-26-107085.md) |
| Diluted EPS | $ per share | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |
| Free cash flow | $m | not reported | not reported | not reported | not reported | not reported | not reported | not reported | not reported |

- Revenue. XBRL Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Operating margin (operating income / revenue). XBRL Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:Revenues. Derived values: 12-month figure less the 9-month figure.
- Diluted EPS. XBRL not reported.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities. Derived values: 6-month figure less the 3-month figure; 9-month figure less the 6-month figure; 12-month figure less the 9-month figure.

## Last five fiscal years

| Line item | Unit | FY2020 (2021-01-31) | FY2021 (2022-01-31) | FY2022 (2023-01-31) | FY2023 (2024-01-31) | FY2024 (2025-01-31) |
| --- | --- | ---: | ---: | ---: | ---: | ---: |
| Revenue | $m | [26.0](/filings/0001558370-23-006525.md) | [71.5](/filings/0001558370-24-005598.md) | [7.7](/filings/0001558370-24-005598.md) | [22.9](/filings/0001558370-25-005426.md) | [98.6](/filings/0001558370-25-005426.md) |
| Gross margin | % | not reported | not reported | not reported | not reported | not reported |
| Operating margin | % | not reported | not reported | not reported | not reported | not reported |
| Net margin | % | [90.2%](/filings/0001558370-23-006525.md) | [96.2%](/filings/0001558370-24-005598.md) | [68.6%](/filings/0001558370-24-005598.md) | [83.0%](/filings/0001558370-25-005426.md) | [94.6%](/filings/0001558370-25-005426.md) |
| Diluted EPS | $ per share | not reported | not reported | not reported | not reported | not reported |
| Free cash flow | $m | not reported | not reported | not reported | not reported | not reported |

- Revenue. XBRL Revenue: us-gaap:Revenues.
- Gross margin (gross profit / revenue). XBRL Revenue: us-gaap:Revenues.
- Operating margin (operating income / revenue). XBRL Revenue: us-gaap:Revenues.
- Net margin (net income / revenue). XBRL Net income: us-gaap:NetIncomeLoss; Revenue: us-gaap:Revenues.
- Diluted EPS. XBRL not reported.
- Free cash flow (operating cash flow − capital expenditure). XBRL Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities.

Each value links to the filing it came from. d marks a derived value. A ratio is not reported when any input is missing.

## Insider purchases and sales

The last 20 open-market transactions on Form 4 (codes P and S). Reported price is as stated on the form, not a market price. [All insider transactions](/companies/msb/insiders.md)

None in coverage.

## Funds that report holding it

From each manager’s latest Form 13F, largest reported value first. Reported value is as filed: filing data, not a price. [All funds](/funds.md)

| Fund | Quarter ended | Reported value | Shares | Put or call | Change on the quarter before |
| --- | --- | ---: | ---: | --- | --- |
| [HORIZON KINETICS ASSET MANAGEMENT LLC](/funds/1056823.md) | 2026-06-30 | $81.5m | 3,219,382 |  | Added +78,410 |
| [VALUEWORKS LLC](/funds/1282189.md) | 2026-06-30 | $16.9m | 669,733 |  | Added +23,151 |
| [CWA Asset Management Group, LLC](/funds/1667134.md) | 2026-06-30 | $13.1m | 518,974 |  | Added +71,489 |
| [FIRST MANHATTAN CO. LLC.](/funds/728083.md) | 2026-06-30 | $10.0m | 396,373 |  | Added +86,313 |
| [MAD RIVER INVESTORS](/funds/1384484.md) | 2026-06-30 | $8.2m | 323,735 |  | Added +2,189 |
| [Advisory Services Network, LLC](/funds/1573876.md) | 2026-06-30 | $4.7m | 185,669 |  | Added +1,040 |
| [Moors & Cabot, Inc.](/funds/1607239.md) | 2026-06-30 | $4.5m | 178,289 |  | Reduced −2,656 |
| [EagleClaw Capital Managment, LLC](/funds/1607636.md) | 2026-06-30 | $4.3m | 170,575 |  | Added +800 |
| [MORGAN STANLEY](/funds/895421.md) | 2026-06-30 | $2.9m | 113,293 |  | Reduced −752 |
| [Bank of New York Mellon Corp](/funds/1390777.md) | 2026-06-30 | $2.6m | 101,464 |  | Added +1,266 |

## Recent filings

[All 257 filings](/companies/msb/filings.md)

| Filed | Accepted | Form | What it is | Accession |
| --- | --- | --- | --- | --- |
| 2026-10-15 | 20:35 ET | [8-K](/filings/0001104659-26-116264.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001104659-26-116264 |
| 2026-09-11 | 20:30 ET | [10-Q](/filings/0001104659-26-107085.md) | Quarterly report, period 2026-07-31 | 0001104659-26-107085 |
| 2026-07-31 | 20:30 ET | [8-K](/filings/0001104659-26-089248.md) | 2.02 Results of operations; 7.01 Regulation FD disclosure | 0001104659-26-089248 |
| 2026-07-14 | 20:45 ET | [8-K](/filings/0001104659-26-083538.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001104659-26-083538 |
| 2026-06-12 | 20:15 ET | [10-Q](/filings/0001104659-26-073470.md) | Quarterly report, period 2026-04-30 | 0001104659-26-073470 |
| 2026-05-04 | 20:30 ET | [8-K](/filings/0001104659-26-054941.md) | 2.02 Results of operations; 7.01 Regulation FD disclosure; 8.01 Other events; 9.01 Financial statements and exhibits | 0001104659-26-054941 |
| 2026-04-22 | 20:30 ET | [10-K](/filings/0001104659-26-046864.md) | Annual report, period 2026-01-31 | 0001104659-26-046864 |
| 2026-04-14 | 20:30 ET | [8-K](/filings/0001104659-26-043216.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001104659-26-043216 |
| 2026-02-03 | 21:30 ET | [8-K](/filings/0001104659-26-009757.md) | 2.02 Results of operations; 7.01 Regulation FD disclosure | 0001104659-26-009757 |
| 2026-01-16 | 21:21 ET | [8-K](/filings/0001104659-26-004561.md) | 2.02 Results of operations; 9.01 Financial statements and exhibits | 0001104659-26-004561 |

## Latest annual report

[Form 10-K for the fiscal year ended Jan 31, 2026](/filings/0001104659-26-046864.md), filed Apr 22, 2026.

## Forecast league

Not in this season’s league. [This season’s league](/leagues.md)

## About the filer

- CIK: 65172
- Tickers: MSB
- Exchange: NYSE
- SIC code: 6795 Mineral Royalty Traders
- State of incorporation: NY
- Filer category: Non-accelerated filer<br>Smaller reporting company

Source: SEC EDGAR, XBRL company facts, the filing index and Forms 4. Last ingested by Listed: Oct 24, 2026, 15:19 ET. No prices; not investment advice.