Lesa Sroufe & Co
Long book
$146.9M
Q1 2026
Positions
68
Top-10 weight
45%
concentration
Last quarter
-3.2%
SPY +14.8%
Turnover
17%
of book per quarter
Strategy in plain words
auto-generated from filingsLesa Sroufe & Co is a diversified fundamental manager, running a $146.9M US long book across 68 positions.
The portfolio is moderately concentrated (top 10 ≈ 45% of the book). Turnover is modest: positions are typically held for years. Current anchor positions: MICROSOFT CORP, NEWMONT CORP, ANGLOGOLD ASHANTI PLC, PAN AMERICAN SILVER CORP, ISHARES SILVER TRUST.
Over the last 8 quarters its long book ran on average 0.9pp per quarter ahead of the S&P 500, beating the index in 5 of 8 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+3.1%
Q2 2024
+6.2%
Q3 2024
-5.8%
Q1 2025
+11.5%
Q2 2025
+16.5%
Q3 2025
+13.2%
Q4 2025
+9.9%
Q1 2026
-3.2%
Sector allocation
Materials 27%
Industrials 23%
Technology 10%
Energy 9%
Utilities 8%
Financials 6%
Consumer staples 5%
Healthcare 5%
Long book by quarter
What does Lesa Sroufe own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| MSFT MICROSOFT CORP | Technology | 24.8K | $9.2M | 6.3% | +22.3% |
| NEM NEWMONT CORP | Materials | 81.5K | $8.8M | 6.0% | +1.0% |
| AU ANGLOGOLD ASHANTI PLC | Materials | 84.7K | $8.2M | 5.6% | -2.6% |
| PAAS PAN AMERICAN SILVER CORP | Materials | 145.4K | $7.9M | 5.4% | +1.6% |
| MTB M & T BANK CORP | Financials | 25.9K | $5.3M | 3.6% | +15.4% |
| AA ALCOA CORP | Industrials | 77.7K | $5.2M | 3.5% | +1.6% |
| HL HECLA MINING CO | Materials | 248.7K | $4.6M | 3.2% | -47.4% |
| RRC RANGE RESOURCES CORP | Energy | 100.7K | $4.5M | 3.1% | +3.3% |
| TTE TOTALENERGIES SE | Energy | 47.8K | $4.4M | 3.0% | +1.3% |
| INSW INTERNATIONAL SEAWAYS INC | Industrials | 59.7K | $4.3M | 3.0% | +1.5% |
| NTR NUTRIEN LTD | Other | 52.0K | $3.9M | 2.7% | +1.8% |
| BG BUNGE GLOBAL SA | Consumer staples | 29.7K | $3.8M | 2.6% | +1.7% |
| BKH BLACK HILLS CORP | Utilities | 46.8K | $3.3M | 2.2% | +1.2% |
| ALK ALASKA AIR GROUP INC | Industrials | 84.2K | $3.1M | 2.1% | +131.7% |
| INVX INNOVEX INTERNATIONAL INC | Industrials | 122.8K | $3.0M | 2.0% | +1.0% |
| AMGN AMGEN INC | Healthcare | 8.5K | $3.0M | 2.0% | Held |
| TPC TUTOR PERINI CORP | Industrials | 37.8K | $2.9M | 2.0% | -47.9% |
| FLR FLUOR CORP | Industrials | 62.2K | $2.9M | 2.0% | +1.3% |
| HE HAWAIIAN ELECTRIC INDS | Utilities | 194.0K | $2.9M | 2.0% | +1.7% |
| NWE NORTHWESTERN ENERGY GROUP IN | Utilities | 40.7K | $2.7M | 1.8% | +1.1% |
| HTLD HEARTLAND EXPRESS INC | Industrials | 229.8K | $2.4M | 1.6% | +4.6% |
| DOLE DOLE PLC | Consumer staples | 130.6K | $1.9M | 1.3% | +1.1% |
| AAPL APPLE INC | Technology | 6.0K | $1.5M | 1.0% | 0.0% |
| SWBI SMITH & WESSON BRANDS INC | Industrials | 83.6K | $1.2M | 0.8% | +11.1% |
| MCD MCDONALD'S CORP | Consumer discretionary | 3.2K | $991K | 0.7% | Held |
| MRK MERCK & CO. INC. | Healthcare | 9.1K | $921K | 0.6% | +77.8% |
| JNJ JOHNSON & JOHNSON | Healthcare | 3.6K | $875K | 0.6% | Held |
| PCAR PACCAR INC | Industrials | 6.3K | $726K | 0.5% | New |
| BRK/A BERKSHIRE HATHAWAY INC-CL A | Financials | 1 | $718K | 0.5% | New |
| BKUTK BANK UTICA N Y | — | 1.0K | $601K | 0.4% | Held |
| ABBV ABBVIE INC | Healthcare | 2.6K | $565K | 0.4% | Held |
| PEP PEPSICO INC | Consumer staples | 3.6K | $555K | 0.4% | Held |
| PG PROCTER & GAMBLE CO/THE | Other | 3.6K | $518K | 0.4% | +0.4% |
| CVX CHEVRON CORP | Energy | 2.5K | $514K | 0.3% | Held |
| AMZN AMAZON.COM INC | Consumer discretionary | 2.3K | $472K | 0.3% | -2.2% |
| ASRV AMERISERV FINANCIAL INC | Financials | 100.0K | $362K | 0.2% | Held |
| ORCL ORACLE CORP | Technology | 2.4K | $359K | 0.2% | Held |
| SYY SYSCO CORP | Consumer discretionary | 4.8K | $341K | 0.2% | Held |
| JPM JPMORGAN CHASE & CO | Financials | 1.1K | $312K | 0.2% | Held |
| LNG CHENIERE ENERGY INC | Utilities | 1.0K | $296K | 0.2% | -8.5% |
| CCJ CAMECO CORP | Materials | 2.7K | $292K | 0.2% | -15.7% |
| XOM EXXON MOBIL CORP | Energy | 1.7K | $290K | 0.2% | Held |
| CVS CVS HEALTH CORP | Healthcare | 4.0K | $285K | 0.2% | Held |
| ABT ABBOTT LABORATORIES | Healthcare | 2.7K | $276K | 0.2% | Held |
| BA BOEING CO/THE | Industrials | 1.3K | $261K | 0.2% | Held |
| NVDA NVIDIA CORP | Technology | 1.5K | $259K | 0.2% | Held |
| ORA ORMAT TECHNOLOGIES INC | Utilities | 2.3K | $254K | 0.2% | +12.8% |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 480 | $230K | 0.2% | -1.4% |
| DIS WALT DISNEY CO/THE | Services media | 2.2K | $215K | 0.1% | Held |
| IBM INTL BUSINESS MACHINES CORP | Technology | 880 | $213K | 0.1% | Held |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | Apr 27, 2026 | 69 | $146.9M | $K fixed canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Jan 22, 2026 | 69 | $134.3M | $K fixed canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Oct 23, 2025 | 69 | $123.8M | $K fixed canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Jul 29, 2025 | 70 | $108.8M | $K fixed canonical | SEC ↗ |
| Q1 2025 | 13F-HR | Apr 18, 2025 | 69 | $99.2M | $K fixed canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Oct 16, 2024 | 74 | $107.1M | $K fixed canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Jul 9, 2024 | 71 | $103.0M | $K fixed canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 6, 2024 | 74 | $106.9M | $K fixed canonical | SEC ↗ |
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