Laird Superfood

LSF on NYSEAmerican. Market value $35m.

Watch this stockFree. We tell you when something changes.

Should I look at this?

Look carefully before going further

Why it could be worth it

Nothing stands out yet.

Read the warning sign in its own filings

This is not advice.

Compare with another stock

Who owns it

None of the long-term investors we follow own it. 45 funds in all.

Jun '25
Dec '25
Jun '26
Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

1 investor owns more than 5%.

  • Nexus Capital Management LP
    Insider or founder
    at least 73.8%+17.1 pts
    (filed with 11 related holders)
    Since 21 April 2026
    What they said

    Item 4 of the Amended Statement is hereby amended and supplemented by adding the following: Terrasoul Acquisition Agreement On April 21, 2026 (the "Closing Date"), the Issuer completed its acquisition (the "Terrasoul Acquisition") of all of the issued and outstanding equity…

    Read the filing
  • Sold down below 5%
    Since 31 December 2025

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

In the last 12 months, 2 insiders bought $350,104 of shares on the open market.

  • GRAVES GREGORY B
    Director
    Bought
    Date
    10 June 2026
    Shares
    15,000
    Price
    $3.45
    Value
    $51,750
  • LaMontagne Grant J
    Director
    Bought
    Date
    5 June 2026
    Shares
    6,910
    Price
    $3.30
    Value
    $22,803
  • LaMontagne Grant J
    Director
    Bought
    Date
    4 June 2026
    Shares
    8,826
    Price
    $3.23
    Value
    $28,508
  • LaMontagne Grant J
    Director
    Bought
    Date
    3 June 2026
    Shares
    17,054
    Price
    $3.30
    Value
    $56,278
  • LaMontagne Grant J
    Director
    Bought
    Date
    2 June 2026
    Shares
    27,160
    Price
    $3.30
    Value
    $89,628
  • LaMontagne Grant J
    Director
    Bought
    Date
    29 May 2026
    Shares
    6,610
    Price
    $3.30
    Value
    $21,813
  • LaMontagne Grant J
    Director
    Bought
    Date
    28 May 2026
    Shares
    624
    Price
    $3.30
    Value
    $2,059
  • LaMontagne Grant J
    Director
    Bought
    Date
    22 May 2026
    Shares
    615
    Price
    $3.30
    Value
    $2,030
  • LaMontagne Grant J
    Director
    Bought
    Date
    21 May 2026
    Shares
    87
    Price
    $3.30
    Value
    $287
  • LaMontagne Grant J
    Director
    Bought
    Date
    20 May 2026
    Shares
    22,850
    Price
    $3.28
    Value
    $74,948

From Form 4 filings: insiders must report trades in their own company's shares within two days.

Warning signs in its filings

Problems the company itself reported to the SEC, in its own words.

1 serious warning sign in Laird Superfood’s filings.

We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.

We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 30 Mar 2026, plus the 10-Q filed 13 Aug 2026 and 9 later 8-Ks.

  • Weak checks on its own accounts

    Serious

    The company said its checks on its own accounts did not work at the end of its latest quarter. Mistakes could slip into the numbers.

    “Based on this evaluation, our principal executive officer and principal financial officer have concluded that our disclosure controls and procedures were not effective as of June 30, 2026, due to a material weakness in our internal controls over financial reporting described below.”
    Show the full paragraph
    Our management, with the participation of our principal executive officer and our principal financial officer, and under the oversight of the Board of Directors, has evaluated the effectiveness of our disclosure controls and procedures as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act, as of the end of the period covered by this Quarterly Report on Form 10-Q. Based on this evaluation, our principal executive officer and principal financial officer have concluded that our disclosure controls and procedures were not effective as of June 30, 2026, due to a material weakness in our internal controls over financial reporting described below. However, our management, including our principal executive officer and our principal financial officer, has concluded that, notwithstanding the identified material weakness in our internal controls over financial reporting, the consolidated financial statements in Quarterly Report on Form 10-Q fairly presents, in all material respects, our financial position, results of operations, and cash flows for the periods presented in conformity with U.S. GAAP.

    From the 10-Q filed 13 August 2026, Part I, Item 4. Controls and Procedures. Read it in the filing

  • Changed auditor

    Worth knowing

    The company changed its auditor (the firm that checks its books) in the last two years.

    “On March 10, 2025, the Board of Directors (the “Board”) of Laird Superfood, Inc. (the “Company”) approved the dismissal of Moss Adams LLP (“Moss Adams,”) the Company’s independent registered public accounting firm, such action dismissing Moss Adams effective immediately.”

    From an 8-K filed 14 March 2025: Change of auditor. Read it in the filing

A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
Create a free account to run it

Your first deep dive is free.

What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.