SEC 13F Intelligence

Managers / Q2 2025 · view latest →

Lesa Sroufe & Co

CIK 0001492162 · 801 2ND AVENUE SUITE 304, SEATTLE, WA, 98104 · 206-838-8385

Reported Value
$109M
Q2 2025
Positions
70
Filings on Record
28
2019–present window
Filed
Jul 29, 2025
original filing

Summary

Lesa Sroufe & Co reported $109M in U.S.-listed holdings across 70 positions for Q2 2025.

Its largest position, MSFT, represents 9.3% of the portfolio.

Compared with Q1 2025, the fund opened 4 new positions and exited 4.

Portfolio Metrics

Turnover
+7.4%
vs prior filed quarter
Top-10 Concentration
+45.4%
share of reported value
Largest Position
+9.3%
Microsoft
New / Exited
4 / 4
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q1 ’19: $117MQ1 ’19Q2 ’19: $113MQ3 ’19: $105MQ4 ’19: $105MQ1 ’20: $74MQ1 ’20Q2 ’20: $75MQ3 ’20: $72MQ4 ’20: $84MQ1 ’21: $90MQ1 ’21Q2 ’21: $100MQ3 ’21: $94MQ4 ’21: $100MQ1 ’22: $100MQ1 ’22Q3 ’22: $83MQ4 ’22: $90MQ1 ’23: $99MQ2 ’23: $94MQ2 ’23Q3 ’23: $93MQ4 ’23: $98MQ1 ’24: $107MQ2 ’24: $103MQ2 ’24Q3 ’24: $107MQ1 ’25: $100MQ2 ’25: $109MQ3 ’25: $124MQ3 ’25Q4 ’25: $134MQ1 ’26: $147Mfilingsflow.com

Portfolio Composition

By security type
Common Stock: 51.5%Other: 41.4%ADR: 4.2%Royalty Trst: 1.8%ETP: 0.9%REIT: 0.3%
  • Common Stock · 51.5% · $56M
  • Other · 41.4% · $45M
  • ADR · 4.2% · $5M
  • Royalty Trst · 1.8% · $2M
  • ETP · 0.9% · $961,000
  • REIT · 0.3% · $274,000

Quarter-over-Quarter Changes full breakdown →

vs Q1 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
PROSHARES SHORT QQQ ETFNEW+58.5K58.5K+$2M$2M
VTVANGUARD TOTAL WORLD STOCK INDNEW+3.1K3.1K+$402,000$402,000
CAMECO CORP FNEW+3.2K3.2K+$237,000$237,000
C3 AI INC CLASS ANEW+9.1K9.1K+$224,000$224,000
HTLDHEARTLAND EXPRESSADDED+120.6K228.9K+$979,000$2M
AAALCOA CORPADDED+38.1K75.2K+$1M$2M
BANCO BILBAO VIZCAYA A F SPONSSOLD OUT−312.8K0−$4M$0
VUGVANGUARD GROWTH INDEX FUND ETFSOLD OUT−6090−$250,000$0

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q2 2025

70 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1MSFTMICROSOFT CORPhistory →COM9.30%$10M20.4K
2ANGLOGOLD ASHANTI PLC FCOM5.35%$6M127.8K
3PAASPAN AMERN SILVER CORP Fhistory →COM5.11%$6M195.8K
4NEMNEWMONT CORPhistory →COM4.32%$5M80.6K
5M & T BANK CORPCOM4.07%$4M22.9K
6PETROLEO BRASILEIRO F SPONSOREADR3.94%$4M343.0K
7ISHARES SILVER TRUST ETFISHARES3.83%$4M127.2K
8RANGE RESOURCES CORPCOM3.62%$4M97.0K
9TPCTUTOR PERINI CORPhistory →COM3.03%$3M70.5K
10FLRFLUOR CORPhistory →COM2.79%$3M59.3K
11NUTRIEN LTD FCOM2.73%$3M51.1K
12HLHECLA MINING COhistory →COM2.58%$3M468.9K
13CXCEMEX SAB DE C V F SPONSORED Ahistory →ADR2.37%$3M371.9K
14TELEFONICA BRASIL S. F SPONSORADR2.36%$3M225.3K
15BKHBLACK HILLS CORPhistory →COM2.35%$3M45.6K
16LAZARD INCCOM2.32%$3M52.6K
17AMGNAMGEN INC.history →COM2.18%$2M8.5K
18BUNGE GLOBAL SA FCOM2.16%$2M29.3K
19AAALCOA CORPhistory →COM2.04%$2M75.2K
20INTERNATIONAL SEAWAYS INC FCOM1.95%$2M58.2K
21NWENORTHWESTERN ENERGY GROUP INChistory →COM1.87%$2M39.7K
22SJTSAN JUAN BASIN ROYAL ROYALTY Thistory →COM1.85%$2M336.6K
23HEHAWAIIAN ELECTRIC INDUSTRIEShistory →COM1.84%$2M188.6K
24NOKNOKIA OYJ F SPONSORED ADR 1 ADhistory →ADR1.82%$2M382.1K
25HTLDHEARTLAND EXPRESShistory →COM1.82%$2M228.9K
26PROSHARES SHORT QQQ ETFCOM1.81%$2M58.5K
27ALKALASKA AIR GROUP INChistory →COM1.65%$2M36.3K
28INVXINNOVEX INTERNATIONAL INChistory →COM1.64%$2M114.4K
29DOLE PLC FCOM1.63%$2M127.1K
30INTCINTEL CORPhistory →COM1.44%$2M70.1K
31AAPLAPPLE INChistory →COM1.13%$1M6.0K
32MCDMCDONALDS CORPCOM0.86%$931,0003.2K
33BERKSHIRE HATHAWAY INC DCLASSCOM0.67%$729,0001
34SWBISMITH & WESSON BRANDS INCCOM0.65%$705,00081.2K
35PGPROCTER & GAMBLECOM0.52%$569,0003.6K
36JNJJOHNSON & JOHNSONCOM0.50%$547,0003.6K
37ORACLE CORPCOM0.49%$534,0002.4K
38AMZNAMAZON.COM INCCOM0.46%$505,0002.3K
39SPDR GOLD SHARES ETFCOM0.45%$494,0001.6K
40PEPPEPSICO INCCOM0.45%$492,0003.7K
41BKUTKBANK OF UTICA N YCOM0.45%$491,0001.0K
42ABBVIE INCCOM0.44%$482,0002.6K
43MERCK & CO. INC.COM0.37%$404,0005.1K
44VTVANGUARD TOTAL WORLD STOCK INDCOM0.37%$402,0003.1K
45VANGUARD INFORMATION TECHNOLOGCOM0.34%$369,000557
46ABTABBOTT LABORATORIESCOM0.34%$366,0002.7K
47SYYSYSCO CORPCOM0.33%$362,0004.8K
48CVXCHEVRON CORPCOM0.32%$351,0002.5K
49IAUISHARES GOLD ETFISHARES0.29%$321,0005.1K
50NVIDIA CORPCOM0.29%$312,0002.0K
51J P MORGAN CHASE & COCOM0.28%$308,0001.1K
52AMERISERV FINLCOM0.28%$304,000100.0K
53CISCO SYSTEMS INCCOM0.26%$284,0004.1K
54IBMIBM CORPCOM0.26%$279,000945
55CHENIERE ENERGY INCCOM0.26%$278,0001.1K
56DISWALT DISNEY COCOM0.25%$277,0002.2K
57BABOEING COCOM0.25%$275,0001.3K
58CVSCVS HEALTH CORPCOM0.25%$274,0004.0K
59UNITEDHEALTH GROUP INCCOM0.25%$274,000877
60BRTBRT APARTMENTS CORPCOM0.25%$274,00017.5K
61ANTERO RESOURCES CORCOM0.25%$272,0006.8K
62SPDR S&P MIDCAP 400 ETFCOM0.24%$266,000470
63EXXON MOBIL CORPCOM0.23%$249,0002.3K
64SCHXSCHWAB US LARGE CAP ETFCOM0.22%$238,0009.7K
65CAMECO CORP FCOM0.22%$237,0003.2K
66BRK/BBERKSHIRE HATHAWAY INC CL BCOM0.22%$236,000486
67C3 AI INC CLASS ACOM0.21%$224,0009.1K
68COMPCOMPASS INCCOM0.15%$158,00025.1K
69WBAWALGREENS BOOTS ALLICOM0.11%$117,00010.2K
70ENEL CHILE S A F SPONSORED ADRADR0.04%$44,00012.2K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$147M69Apr 27, 202613F-HRchanges · EDGAR ↗
Q4 2025$134M69Jan 22, 202613F-HRchanges · EDGAR ↗
Q3 2025$124M69Oct 23, 202513F-HRchanges · EDGAR ↗
Q2 2025$109M70Jul 29, 202513F-HRchanges · EDGAR ↗
Q1 2025$100M73Apr 18, 202513F-HRchanges · EDGAR ↗
Q3 2024$107M74Oct 16, 202413F-HRchanges · EDGAR ↗
Q2 2024$103M71Jul 9, 202413F-HRchanges · EDGAR ↗
Q1 2024$107M74May 6, 202413F-HRchanges · EDGAR ↗
Q4 2023$98M65Feb 1, 202413F-HRchanges · EDGAR ↗
Q3 2023$93M66Oct 19, 202313F-HRchanges · EDGAR ↗
Q2 2023$94M67Jul 20, 202313F-HRchanges · EDGAR ↗
Q1 2023$99M71Apr 19, 202313F-HRchanges · EDGAR ↗
Q4 2022$90M68Feb 2, 202313F-HRchanges · EDGAR ↗
Q3 2022$83M65Oct 27, 202213F-HRchanges · EDGAR ↗
Q1 2022$100M73Apr 21, 202213F-HRchanges · EDGAR ↗
Q4 2021$100M72Jan 28, 202213F-HRchanges · EDGAR ↗
Q3 2021$94M71Nov 1, 202113F-HRchanges · EDGAR ↗
Q2 2021$100M72Jul 22, 202113F-HRchanges · EDGAR ↗
Q1 2021$90M68May 5, 202113F-HRchanges · EDGAR ↗
Q4 2020$84M69Jan 29, 202113F-HRchanges · EDGAR ↗
Q3 2020$72M64Oct 26, 202013F-HRchanges · EDGAR ↗
Q2 2020$75M61Aug 6, 202013F-HRchanges · EDGAR ↗
Q1 2020$74M58May 8, 2020RESTATEMENTchanges · EDGAR ↗
Q4 2019$105M62Feb 14, 202013F-HRchanges · EDGAR ↗
Q3 2019$105M61Oct 25, 201913F-HRchanges · EDGAR ↗
Q2 2019$113M62Jul 29, 201913F-HRchanges · EDGAR ↗
Q1 2019$117M60May 3, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.