[SCHEDULE 13G] Laird Superfood, Inc. SEC Filing

Rhea-AI Filing Summary

AWM Investment Company, Inc. reported beneficial ownership of 599,411 shares of Laird Superfood, Inc. common stock, representing 5.7% of the class. The filing states AWM acts as investment adviser to three funds that together hold these shares: Special Situations Cayman Fund, L.P., Special Situations Fund III QP, L.P., and Special Situations Private Equity Fund, L.P.

AWM discloses it holds sole voting and sole dispositive power over the shares held by those funds, broken down as 117,613, 421,964 and 59,834 shares respectively. The filing includes a certification that the securities are held in the ordinary course of business and not for the purpose of changing or influencing control.

Positive

• Reportable institutional stake: AWM beneficially owns 599,411 shares (5.7% of class)
• Sole voting and dispositive power: AWM holds sole authority over the shares across the three funds
• Clear breakdown by fund: Holdings are specified as 117,613, 421,964 and 59,834 shares
• Certification of ordinary-course holdings: Filing states shares were acquired and are held in the ordinary course and not to influence control

Negative

• None.

Insights

Securities Analyst

AWM holds a reportable, non-controlling stake in Laird Superfood across three funds.

The 5.7% position is material enough to require Schedule 13G disclosure but remains below typical control thresholds. AWM's sole voting and dispositive authority over the aggregated 599,411 shares indicates centralized portfolio management across the three funds. The Item 10 certification clarifies the position is reported as held in the ordinary course, suggesting no declared intent to influence control. For investors, this is a notable institutional stake but not an activist or control signal based on the filing.

Corporate Governance Expert

Reportable 5.7% ownership with sole voting power is disclosure-significant but not evidencing control.

From a governance perspective, AWM's consolidated advisory authority over 599,411 shares means it can exercise voting decisions for those holdings, which is relevant when assessing shareholder base composition. The explicit breakdown by fund clarifies where the economic interests reside. The certification that securities are not held to influence control reduces immediate governance risk, though shareholders and management may note the presence of an engaged institutional owner in future votes.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Laird Superfood, Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

50736T102

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 50736T102

1

Names of Reporting Persons

AWM Investment Company, Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 599,411.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 599,411.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

599,411.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.7 %

12

Type of Reporting Person (See Instructions)

IA

Comment for Type of Reporting Person: AWM Investment Company, Inc., a Delaware corporation (AWM), is the investment adviser to Special Situations Cayman Fund, L.P. (CAYMAN), Special Situations Fund III QP, L.P. (SSFQP) and Special Situations Private Equity Fund, L.P. (SSPE). (CAYMAN, SSFQP and SSPE will hereafter be referred to as the Funds). As the investment adviser to the Funds, AWM holds sole voting and investment power over 117,613 shares of Common Stock of the Issuer (the Shares) held by CAYMAN, 421,964 Shares held by SSFQP and 59,834 Shares held by SSPE

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Laird Superfood, Inc.
(b)	Address of issuer's principal executive offices: 275 W. LUNDGREN MILL DR., SISTERS, OREGON, 97759
Item 2.
(a)	Name of person filing: The person filing this report is AWM Investment Company, Inc., a Delaware corporation (AWM), which is the investment adviser to Special Situations Cayman Fund, L.P., a Cayman Islands Limited Partnership (CAYMAN), Special Situations Fund III QP, L.P., a Delaware limited partnership (SSFQP) and Special Situations Private Equity Fund, L.P., a Delaware limited partnership (SSPE), (CAYMAN, SSFQP and SSPE, will hereafter be referred to as the Funds). The principal business of each Fund is to invest in equity and equity-related securities and other securities of any kind or nature. David M. Greenhouse (Greenhouse) and Adam C. Stettner (Stettner) are members of: SSCayman, L.L.C., a Delaware limited liability company (SSCAY), the general partner of CAYMAN; MGP Advisers Limited Partnership, a Delaware limited partnership (MGP), the general partner of SSFQP and MG Advisers, L.L.C., a New York limited liability company (MG), the general partner of SSPE. Greenhouse and Stettner are also controlling principals of AWM.
(b)	Address or principal business office or, if none, residence: The principal business address for AWM is c/o Special Situations Funds, 527 Madison Avenue, Suite 2600, New York, NY 10022.
(c)	Citizenship: AWM is a Delaware Corporation
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 50736T102
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 599,411
(b)	Percent of class: 5.7 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: AWM is the investment adviser to each of the Funds. As the investment adviser to the Funds, AWM holds sole voting power over 117,613 shares of Common Stock of the Issuer (the Shares) held by CAYMAN, 421,964 Shares held by SSFQP and 59,834 Shares held by SSPE. Greenhouse and Stettner are members of: SSCAY, the general partner of CAYMAN. Greenhouse and Stettner are members of MGP, the general partner of SSFQP and MG, the general partner of SSPE. Greenhouse and Stettner are also controlling principals of AWM
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: AWM is the investment adviser to each of the Funds. As the investment adviser to the Funds, AWM holds sole investment power over 117,613 shares of Common Stock of the Issuer (the Shares) held by CAYMAN, 421,964 Shares held by SSFQP and 59,834 Shares held by SSPE. Greenhouse and Stettner are members of: SSCAY, the general partner of CAYMAN. Greenhouse and Stettner are members of MGP, the general partner of SSFQP and MG, the general partner of SSPE. Greenhouse and Stettner are also controlling principals of AWM
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

AWM Investment Company, Inc.

Signature:	Adam Stettner
Name/Title:	Executive Vice President
Date:	08/14/2025

FAQ

Who filed the Schedule 13G for Laird Superfood (LSF)?

The filing was made by AWM Investment Company, Inc., the investment adviser to three Special Situations funds.

How many LSF shares does AWM report owning and what percent is that?

AWM reports beneficial ownership of 599,411 shares, representing 5.7% of Laird Superfood's common stock.

Which funds hold the reported LSF shares and what are the share counts?

The shares are held by Special Situations Cayman Fund, L.P. (117,613), Special Situations Fund III QP, L.P. (421,964) and Special Situations Private Equity Fund, L.P. (59,834).

Does AWM have voting control over the reported LSF shares?

Yes. AWM discloses it has sole voting power and sole dispositive power over the shares held by the three funds.

Is the AWM position intended to influence control of LSF?

The filing includes a certification stating the securities are held in the ordinary course of business and were not acquired to change or influence control.