Mesabi Trust Reports Quarterly Operations in SEC Filing

On May 4, 2026, Mesabi Trust submitted Form 8-K to the Securities and Exchange Commission under accession number 0001104659-26-054941, reporting results of operations and financial condition per Item 2.02, along with Regulation FD disclosure under Item 7.01, other events under Item 8.01, and financial statements and exhibits under Item 9.01.

The filing affects Mesabi Trust's approximately 13.1 million outstanding units, held by investors who receive quarterly distributions based on royalties from iron ore shipments. These royalties stem from production at the Peter Mitchell Mine in Minnesota, operated by Northshore Mining Company, a subsidiary of Cleveland-Cliffs Inc.

The trust's income typically fluctuates with iron ore pellet shipments, which totaled about 4.5 million tons in recent comparable quarters per prior SEC filings, directly impacting unitholder payouts that have ranged from $0.20 to $1.00 per unit in past periods.

The 8-K updates the trust's financial position from the prior quarter, where royalties were last reported in the January 2026 period per the trust's previous filing. The new disclosure reflects royalty income earned during the fiscal quarter ended April 30, 2026, with distributions calculated based on shipments and iron ore prices during that time.

This change takes effect immediately, as the filing satisfies SEC requirements for prompt disclosure of material financial information.

The disclosure initiates the process for quarterly distributions, which the trust must declare and pay to unitholders by the end of the month following the filing, per the trust agreement. It also starts the clock on the next Form 10-Q filing, due within 45 days of the quarter's end to provide detailed financial statements.

Additionally, the Regulation FD disclosure under Item 7.01 ensures fair dissemination of information, requiring the trust to post the details on its website within four business days if not already included in the 8-K exhibits.

Mesabi Trust has issued similar 8-K filings quarterly since its inception in 1961, with royalties tied to the Mesabi Iron Range operations. The trust's most recent prior 8-K, filed in February 2026, reported distributions from the previous fiscal year-end, continuing a pattern of disclosures linked to Northshore Mining's production levels.