SEC 13F Intelligence

Managers / Q4 2025 · view latest →

Lesa Sroufe & Co

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

Reported Value
$134M
Q4 2025
Positions
69
Filings on Record
28
2019–present window
Filed
Jan 22, 2026
original filing

Summary

Lesa Sroufe & Co reported $134M in U.S.-listed holdings across 69 positions for Q4 2025.

Its largest position, MSFT, represents 7.3% of the portfolio.

Compared with Q3 2025, the fund opened 4 new positions and exited 4.

Portfolio Metrics

Turnover
+4.9%
vs prior filed quarter
Top-10 Concentration
+49.0%
share of reported value
Largest Position
+7.3%
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: 53.5%Other: 38.9%ADR: 5.1%Royalty Trst: 1.4%ETP: 0.9%REIT: 0.2%
  • Common Stock · 53.5% · $72M
  • Other · 38.9% · $52M
  • ADR · 5.1% · $7M
  • Royalty Trst · 1.4% · $2M
  • ETP · 0.9% · $1M
  • REIT · 0.2% · $257,000

Quarter-over-Quarter Changes full breakdown →

vs Q3 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
TOTALENERGIES FNEW+47.2K47.2K+$3M$3M
COMPASS INC CLASS CLASS ANEW+25.1K25.1K+$265,000$265,000
ORAORMAT TECHNOLOGIES INCNEW+2.0K2.0K+$222,000$222,000
WALGREENS BOOTS ALLIANCENEW+10.2K10.2K+$0$0
TOTALENERGIES SE FSPONSORED ADSOLD OUT−45.6K0−$3M$0
UNITEDHEALTH GROUP INCSOLD OUT−8770−$303,000$0
COMPCOMPASS INCSOLD OUT−25.1K0−$201,000$0
WALGREENS BOOTS ALLISOLD OUT−10.2K0+$0$0

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

Holdings — Q4 2025

69 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1MSFTMICROSOFT CORPhistory →COM7.30%$10M20.3K
2HLHECLA MNG COhistory →COM6.76%$9M473.2K
3NEMNEWMONT CORPhistory →COM6.00%$8M80.7K
4PAASPAN AMERN SILVER CORP Fhistory →COM5.52%$7M143.1K
5ANGLOGOLD ASHANTI PLC FCOM5.52%$7M86.9K
6ISHARES SILVER TRUST ETFISHARES4.66%$6M97.2K
7TPCTUTOR PERINI CORPhistory →COM3.62%$5M72.5K
8M&T BK CORPCOM3.36%$5M22.4K
9CXCEMEX S A B DE C V F SPONSOREDhistory →ADR3.22%$4M376.0K
10AAALCOA CORPhistory →COM3.02%$4M76.4K
11RANGE RESOURCES CORPCOM2.56%$3M97.5K
12PETROLEO BRASILEIRO SA F SPONSADR2.55%$3M288.6K
13BKHBLACK HILLS CORPhistory →COM2.39%$3M46.3K
14NUTRIEN LTD FCOM2.35%$3M51.1K
15TOTALENERGIES FCOM2.30%$3M47.2K
16INTERNATIONAL SEAWAYS INCCOM2.13%$3M58.8K
17AMGNAMGEN INChistory →COM2.07%$3M8.5K
18TELEFONICA BRASIL SA F SPONSORADR1.98%$3M224.2K
19INVXINNOVEX INTL INC EQUITY CLASShistory →COM1.98%$3M121.5K
20BUNGE GLOBAL SA FCOM1.94%$3M29.2K
21NWENORTHWESTERN ENERGYhistory →COM1.93%$3M40.2K
22LAZARD INCCOM1.91%$3M52.8K
23NOKNOKIA CORP F SPONSORED ADR 1 Ahistory →ADR1.85%$2M383.2K
24FLRFLUOR CORP NEWhistory →COM1.81%$2M61.4K
25HEHAWAIIAN ELEC INDS INChistory →COM1.75%$2M190.8K
26HTLDHEARTLAND EXPRESS INChistory →COM1.48%$2M219.8K
27DOLE PLC FCOM1.44%$2M129.2K
28PROSHARES SHORT QQQ ETFCOM1.43%$2M63.7K
29SJTSAN JUAN BASIN RTY T ROYALTY Thistory →COM1.42%$2M340.4K
30ALKALASKA AIR GROUP INChistory →COM1.36%$2M36.3K
31AAPLAPPLE INChistory →COM1.21%$2M6.0K
32MCDMCDONALDS CORPCOM0.73%$974,0003.2K
33SPDR GOLD SHARES ETFCOM0.65%$878,0002.2K
34BERKSHIRE HATHAWAY INC DCLASSCOM0.56%$755,0001
35SWBISMITH & WESSON BRANDS INCOM0.55%$742,00075.2K
36JNJJOHNSON & JOHNSONCOM0.55%$741,0003.6K
37ABBVIE INCCOM0.44%$594,0002.6K
38MERCK & CO. INC.COM0.40%$537,0005.1K
39AMZNAMAZON.COM INCCOM0.40%$534,0002.3K
40VTVANGUARD TOTAL WORLD STOCK ETFCOM0.39%$529,0003.8K
41BKUTKBANK UTICA N YCOM0.38%$517,0001.0K
42PEPPEPSICO INCCOM0.38%$513,0003.6K
43PGPROCTER & GAMBLE COCOM0.38%$512,0003.6K
44ORACLE CORPCOM0.35%$476,0002.4K
45VANGUARD INFORMATION TECHNOLOGCOM0.31%$420,000557
46IAUISHARES GOLD ETFISHARES0.31%$417,0005.1K
47CVXCHEVRON CORP NEWCOM0.28%$379,0002.5K
48SYYSYSCO CORPCOM0.26%$352,0004.8K
49JPMORGAN CHASE & COCOM0.25%$342,0001.1K
50ABTABBOTT LABSCOM0.25%$337,0002.7K
51AMERISERV FINL INCCOM0.24%$319,000100.0K
52CISCO SYS INCCOM0.23%$315,0004.1K
53CVSCVS HEALTH CORPCOM0.23%$315,0004.0K
54CAMECO CORP FCOM0.22%$292,0003.2K
55BABOEING COCOM0.21%$285,0001.3K
56SPDR S&P MIDCAP 400 ETFCOM0.21%$284,000470
57NVIDIA CORPCOM0.21%$277,0001.5K
58COMPASS INC CLASS CLASS ACOM0.20%$265,00025.1K
59IBMIBM CORPCOM0.19%$261,000880
60BRTBRT RLTY TRCOM0.19%$257,00017.5K
61DISDISNEY WALT COCOM0.19%$254,0002.2K
62BRK/BBERKSHIRE HATHAWAY INC CL BCOM0.18%$245,000487
63CHENIERE ENERGY INCCOM0.17%$222,0001.1K
64ORAORMAT TECHNOLOGIES INCCOM0.17%$222,0002.0K
65PALANTIR TECHNOLOGIES IN CLASSCOM0.16%$217,0001.2K
66EXXON MOBIL CORPCOM0.15%$206,0001.7K
67SCHXSCHWAB US LARGE CAP ETFCOM0.15%$202,0007.5K
68ENEL CHILE S A F SPONSORED ADRADR0.04%$49,00012.2K
69WALGREENS BOOTS ALLIANCECOM0.00%$010.2K

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 ↗.