SCHEDULE: AWM Investment Co. Reports 6.8% Stake in Laird Superfood

AWM Investment Company, Inc. has filed an amended Schedule 13G, disclosing a 6.8% beneficial ownership stake in Laird Superfood, Inc. as of September 30, 2025.

Summary

• AWM Investment Company, Inc. (AWM) filed an Amendment No. 1 to Schedule 13G regarding its beneficial ownership in Laird Superfood, Inc.
• AWM, acting as an investment adviser, beneficially owns 729,506 shares of Laird Superfood, Inc. Common Stock.
• This ownership represents 6.8% of the total class of securities.
• AWM holds sole voting power and sole dispositive power over these 729,506 shares.
• The shares are held across three funds: Special Situations Cayman Fund, L.P. (143,135 shares), Special Situations Fund III QP, L.P. (513,552 shares), and Special Situations Private Equity Fund, L.P. (72,819 shares).
• David M. Greenhouse and Adam C. Stettner are controlling principals of AWM and are members of the general partners of the aforementioned funds.
• The securities were acquired and are held in the ordinary course of business, and not for the purpose of changing or influencing control of the issuer.

Sentiment

Score: 6

Explanation: Neutral to slightly positive. The filing is a routine disclosure of a significant passive stake by an institutional investor, which is generally a positive signal of continued interest. No negative information is presented.

Positives

• A significant institutional investor, AWM Investment Company, Inc., maintains a substantial stake (6.8%) in Laird Superfood, Inc., indicating continued confidence.
• The filing explicitly states the shares were acquired in the ordinary course of business and not for control purposes, suggesting a passive investment strategy.

Negatives

• NA

Risks

• NA

Future Outlook

This Schedule 13G filing does not contain forward-looking statements or guidance regarding Laird Superfood, Inc.'s future outlook, as its purpose is to disclose beneficial ownership.

Management Comments

• 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.

Industry Context

This filing indicates continued institutional interest in Laird Superfood, Inc., a company operating in the plant-based food and beverage industry. The 6.8% stake held by AWM Investment Company, Inc. suggests that the company remains on the radar of specialized investment funds, potentially reflecting broader trends in health-conscious consumer markets or specific investment theses related to the company's niche.

Comparison to Industry Standards

• NA

Stakeholder Impact

• Shareholders: The disclosure of a significant institutional stake (6.8%) by AWM Investment Company, Inc. may provide a degree of confidence to existing shareholders and potential investors, signaling continued institutional interest in Laird Superfood, Inc.

Next Steps

• No specific future actions or milestones for Laird Superfood, Inc. are mentioned in this beneficial ownership filing.

Key Dates

Recommendation

This filing is a routine disclosure of beneficial ownership by an institutional investor and does not contain new financial or operational information about Laird Superfood, Inc. that would warrant a change in investment recommendation. The continued significant stake by AWM Investment Company, Inc. suggests ongoing institutional interest, supporting a 'hold' position for investors awaiting further operational updates.

Keywords

Laird Superfood, AWM Investment Company, Schedule 13G, Beneficial Ownership, Institutional Investor, Common Stock, Investment Adviser, Equity Stake