# BEDDOW CAPITAL MANAGEMENT INC

> Institutional holdings reported to the SEC as of Q4 2025 on Form 13F. CIK 1278641. Source: https://holderbook.com/funds/1278641-beddow-capital-management-inc/

- Reported value: $264.9M
- Positions: 54
- Weight of the ten largest: 50.2%
- Filed: 2026-02-11

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| TEXAS PAC LD TR | [TPL](https://holderbook.com/stocks/TPL/) | $19.6M | 68,241 | 7.4% | 29 |
| Investor AB 'B' | - | $16.3M | 459,474 | 6.1% | 29 |
| DOLLAR GEN CORP | [DG](https://holderbook.com/stocks/DG/) | $15.1M | 113,995 | 5.7% | 8 |
| MESABI TR | [MSB](https://holderbook.com/stocks/MSB/) | $13.6M | 352,805 | 5.1% | 29 |
| INTERNATIONAL BUSINESS MACHS | [IBM](https://holderbook.com/stocks/IBM/) | $13.6M | 45,790 | 5.1% | 29 |
| Banco Latinoamericano de Comercio Exterior SA | [BLX](https://holderbook.com/stocks/BLX/) | $13.1M | 294,135 | 5.0% | 29 |
| FRANCO NEV CORP | [FNV](https://holderbook.com/stocks/FNV/) | $10.6M | 51,272 | 4.0% | 26 |
| WHEATON PRECIOUS METALS CORP | [WPM](https://holderbook.com/stocks/WPM/) | $10.6M | 89,943 | 4.0% | 22 |
| AUTOLIV INC | [ALV](https://holderbook.com/stocks/ALV/) | $10.5M | 88,810 | 4.0% | 29 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $10.0M | 48,425 | 3.8% | 29 |
| SIEMENS A G            FSPONSORED ADR           1 ADR REPS  0.5  ORD SHS | [SIEGY](https://holderbook.com/stocks/SIEGY/) | $10.0M | 71,555 | 3.8% | 29 |
| ABB LTD | [ABBNY](https://holderbook.com/stocks/ABBNY/) | $9.2M | 124,815 | 3.5% | 29 |
| CITIGROUP | [CPRN](https://holderbook.com/stocks/CPRN/) | $8.7M | 289,455 | 3.3% | 14 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $7.9M | 15,736 | 3.0% | 29 |
| NESTLE SA ADR | [NSRGY](https://holderbook.com/stocks/NSRGY/) | $7.2M | 73,394 | 2.7% | 29 |
| Subaru Corp | [FUJHY](https://holderbook.com/stocks/FUJHY/) | $6.3M | 583,121 | 2.4% | 16 |
| BERKSHIRE HATHAWAY INC DEL | [BRKA](https://holderbook.com/stocks/BRKA/) | $6.0M | 8 | 2.3% | 29 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $5.9M | 25,725 | 2.2% | 29 |
| CHENIERE ENERGY INC | [LNG](https://holderbook.com/stocks/LNG/) | $5.6M | 28,740 | 2.1% | 19 |
| DIAMONDBACK ENERGY INC | [FANG](https://holderbook.com/stocks/FANG/) | $5.3M | 35,155 | 2.0% | 16 |
| COTERRA ENERGY INC | [CTRA](https://holderbook.com/stocks/CTRA/) | $5.1M | 194,974 | 1.9% | 17 |
| CHORD ENERGY CORPORATION | [CHRD](https://holderbook.com/stocks/CHRD/) | $4.9M | 52,535 | 1.8% | 6 |
| ORGANON & CO | [OGN](https://holderbook.com/stocks/OGN/) | $4.8M | 666,725 | 1.8% | 19 |
| ConocoPhillips Company | - | $4.5M | 48,380 | 1.7% | 24 |
| Pilot Corporation | - | $4.5M | 145,306 | 1.7% | 19 |
| SKF AB | [SKFRY](https://holderbook.com/stocks/SKFRY/) | $4.4M | 164,511 | 1.6% | 16 |
| SHELL PLC | [SHEL](https://holderbook.com/stocks/SHEL/) | $4.2M | 57,076 | 1.6% | 16 |
| EOG RES INC | [EOG](https://holderbook.com/stocks/EOG/) | $3.9M | 36,960 | 1.5% | 21 |
| COPART INC | [CPRT](https://holderbook.com/stocks/CPRT/) | $3.7M | 94,590 | 1.4% | 2 |
| Accelleron Industries AG ORD | - | $3.7M | 47,473 | 1.4% | 12 |
| METTLER TOLEDO INTERNATIONAL | [MTD](https://holderbook.com/stocks/MTD/) | $3.3M | 2,347 | 1.2% | 8 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $1.3M | 4,300 | 0.5% | 13 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $1.3M | 5,580 | 0.5% | 29 |
| AUTOZONE INC | [AZO](https://holderbook.com/stocks/AZO/) | $899.0K | 265 | 0.3% | 20 |
| FRMO Corporation | [FRMO](https://holderbook.com/stocks/FRMO/) | $706.0K | 96,702 | 0.3% | 20 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $693.0K | 2,550 | 0.3% | 22 |
| NOVARTIS AG | [NVS](https://holderbook.com/stocks/NVS/) | $681.0K | 4,940 | 0.3% | 16 |
| Pershing Square Holdings | - | $663.0K | 10,175 | 0.3% | 21 |
| MEXCO ENERGY CORP | [MXC](https://holderbook.com/stocks/MXC/) | $617.0K | 62,295 | 0.2% | 5 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $616.0K | 5,850 | 0.2% | 29 |
| 3M CO | [MMM](https://holderbook.com/stocks/MMM/) | $593.0K | 3,705 | 0.2% | 29 |
| ORACLE CORP | [ORCL](https://holderbook.com/stocks/ORCL/) | $480.0K | 2,465 | 0.2% | 20 |
| ALLSTATE CORP | [ALL](https://holderbook.com/stocks/ALL/) | $468.0K | 2,250 | 0.2% | 28 |
| PFIZER INC | [PFE](https://holderbook.com/stocks/PFE/) | $467.0K | 18,770 | 0.2% | 29 |
| BUILDERS FIRSTSOURCE INC | [BLDR](https://holderbook.com/stocks/BLDR/) | $454.0K | 4,410 | 0.2% | 2 |
| AZZ INC | [AZZ](https://holderbook.com/stocks/AZZ/) | $429.0K | 4,000 | 0.2% | 9 |
| CHEVRON CORPORATION | [CVX](https://holderbook.com/stocks/CVX/) | $390.0K | 2,560 | 0.1% | 10 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $382.0K | 790 | 0.1% | 12 |
| TRIPLE FLAG PRECIOUS METAL | [TFPM](https://holderbook.com/stocks/TFPM/) | $357.0K | 10,750 | 0.1% | 16 |
| TIMKEN CO | [TKR](https://holderbook.com/stocks/TKR/) | $326.0K | 3,875 | 0.1% | 29 |
| VIATRIS INC | [VTRS](https://holderbook.com/stocks/VTRS/) | $318.0K | 25,570 | 0.1% | 21 |
| CATERPILLAR INC | [CAT](https://holderbook.com/stocks/CAT/) | $315.0K | 550 | 0.1% | 13 |
| OLYMPIC STEEL INC | [ZEUS](https://holderbook.com/stocks/ZEUS/) | $214.0K | 5,000 | 0.1% | 1 |
| Surface Oncology Inc. | - | $21.0K | 20,000 | 0.0% | 10 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q4 2025 | +2.3% | +2.4% | -0.0% | 78% |
| Q3 2025 | +9.0% | +7.8% | +1.1% | 77% |
| Q2 2025 | +3.3% | +10.5% | -7.2% | 74% |
| Q1 2025 | +8.2% | -4.6% | +12.8% | 77% |
| Q4 2024 | -1.8% | +2.1% | -4.0% | 77% |
| Q3 2024 | +5.1% | +5.4% | -0.3% | 77% |
| Q2 2024 | -2.9% | +4.0% | -6.9% | 74% |
| Q1 2024 | +6.6% | +10.0% | -3.4% | 75% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q4 2025 | $264.9M | 54 |
| Q3 2025 | $271.3M | 54 |
| Q2 2025 | $252.4M | 54 |
| Q1 2025 | $267.3M | 56 |
| Q4 2024 | $243.3M | 57 |
| Q3 2024 | $244.0M | 58 |
| Q2 2024 | $228.7M | 58 |
| Q1 2024 | $228.7M | 58 |
| Q4 2023 | $214.7M | 56 |
| Q3 2023 | $205.1M | 54 |
| Q2 2023 | $196.8M | 52 |
| Q1 2023 | $199.6M | 52 |