LOCUST WOOD CAPITAL ADVISERS, LLC — 13F Holdings & Portfolio
CIK 1349434 · latest 13F-HR filed 2026-11-03
LOCUST WOOD CAPITAL ADVISERS, LLC manages $4.43B in 13F-reported U.S. long-equity assets across 35 reported positions as of its 2026-09-30 13F-HR filing. Its largest disclosed positions are TSM (7.82%), SPY (7.55%), NVDA (7.35%). Quarter over quarter (versus its 2026-06-30 filing) the fund opened 4 new positions and exited 4; 7 existing positions rose in reported value and 13 fell.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
Loading holdings…
AUM
$4.43B
Long-equity book
Holdings
35
Distinct positions
Period
2026-09-30
Filed 2026-11-03
Q/Q Activity
+4 / −4 / ↑7 / ↓13
vs 2026-06-30
Portfolio charts
Latest quarter's book, what changed, and how the portfolio has evolved across filings.
Portfolio map
Q3 26TSM8.5% · +8%NVDA8.0% · +7%AMZN7.4% · -4%MSFT6.8% · -10%META6.0% · +19%V5.1% · -10%GPGI4.6% · +5%ABT4.5% · +7%SPGI4.5% · +0%GOOGL4.2% · -24%LIN3.9% · -3%ESI3.7% · +18%AAPL3.5% · -10%VRT3.1% · +27%CSX3.0% · -10%UNH2.9% · +27%STE2.5% · +4%SHW2.4% · -8%WM2.2% · +2%GEHC2.2% · +15%RHLD2.1% · +2%SU1.4% · -3%ADI1.3% · newSPCX1.3% · newINTC1.2% · newPCG1.1% · -33%LLY1.0% · -16%BRK.B0.9% · +5%CRL0.4% · newBRK.A0.4% · 0%CP0.0% · -48%
Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.
Sector mix
% of 13F valueSectors from each company's SIC code; funds and ETFs grouped separately.
Biggest buys and sells
Q2 26 → Q3 26Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.
13F assets and positions
5 quartersTotal reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.
Top positions over time
reported valueThe eight largest current positions, valued at each quarter end.
Concentration
top 10 = 59.6%Cumulative share of the portfolio held in the largest N positions.
Firm Profile & Key People
As of the firm’s regulatory filing dated Mar 27, 2026.
Assets Under Management
$4.40B
Discretionary
$4.40B
Employees
12
Accounts
17
| Name | Title / Status | Ownership | Type |
|---|---|---|---|
| ERRICO, STEPHEN, JOHN Control | CHIEF INVESTMENT OFFICER OF REGISTRANT since Jun 2002 | Less than 5% | Individual |
| LWCA PARTNERS LP Control | MANAGING MEMBER OF REGISTRANT since Mar 2015 | 75% or more | Domestic Entity |
| MORRIS, PAUL, MARTIN | CHIEF OPERATING OFFICER/CHIEF COMPLIANCE OFFICER since Jan 2007 | Less than 5% | Individual |
| ERRICO, STEPHEN, JOHN Control Indirect owner via LWCA PARTNERS LP | LIMITED PARTNER since Feb 2015 | 75% or more | Individual |
| ERRICO, STEPHEN, JOHN Control Indirect owner via LWCA PARTNERS GP LLC | MANAGING AND SOLE MEMBER since Mar 2015 | 75% or more | Individual |
| LWCA PARTNERS GP LLC Control Indirect owner via LWCA PARTNERS LP | GENERAL PARTNER since Mar 2015 | General partner, trustee or manager | Domestic Entity |
Ownership & leadership changes · 4 filings with changes since Apr 2, 2012
From the firm’s regulatory filings, newest first. Dates are filing dates: a filing that no longer lists someone does not say when they left.
Mar 26, 2018 filing
- No longer listedERRICO, ROBERT, LOUIS · TRUSTEE OF THE CAROLINE MARIE ERRICO 2015 TRUST DTD 6/4/2015, MEMBER OF LOCUST WOOD SELECT GP, LLC / TRUSTEE OF THE EMILY ELIZABETH ERRICO 2015 TRUST DTD 6/4/2015, MEMBER OF LOCUST WOOD SELECT GP, LLC / TRUSTEE OF THE JOHN MICHAEL ERRICO 2015 TRUST DTD 6/4/2015, MEMBER OF LOCUST WOOD SELECT GP, LLC / TRUSTEE OF THE ROBERT PETER ERRICO 2015 TRUST DTD 6/4/2015, MEMBER OF LOCUST WOOD SELECT GP, LLC / TRUSTEE OF THE SJE 2012 FAMILY TRUST, MEMBER OF LOCUST WOOD CAPITAL MANAGEMENT LLC · 50–75% · control person · listed since Dec 2012
- No longer listedTHE CAROLINE MARIE ERRICO 2015 TRUST DTD 6/4/2015 · MEMBER OF LOCUST WOOD SELECT GP, LLC · 10–25% · listed since Jun 2015
- No longer listedTHE EMILY ELIZABETH ERRICO 2015 TRUST DTD 6/4/2015 · MEMBER OF LOCUST WOOD SELECT GP, LLC · 10–25% · listed since Jun 2015
- No longer listedTHE JOHN MICHAEL ERRICO 2015 TRUST DTD 6/4/2015 · MEMBER OF LOCUST WOOD SELECT GP, LLC · 10–25% · listed since Jun 2015
- No longer listedTHE ROBERT PETER ERRICO 2015 TRUST DTD 6/4/2015 · MEMBER OF LOCUST WOOD SELECT GP, LLC · 10–25% · listed since Jun 2015
- No longer listedTHE SJE 2012 FAMILY TRUST · MEMBER OF LOCUST WOOD CAPITAL MANAGEMENT LLC · 25–50% · control person · listed since Dec 2012
- ChangedERRICO, STEPHEN, JOHN · title CHIEF INVESTMENT OFFICER OF REGISTRANT / MANAGING MEMBER OF LOCUST WOOD CAPITAL MANAGEMENT, LLC / MANAGING MEMBER OF LOCUST WOOD SELECT GP, LLC / TRUSTEE OF THE SJE 2012 FAMILY TRUST, MEMBER OF LOCUST WOOD CAPITAL MANAGEMENT LLC → CHIEF INVESTMENT OFFICER OF REGISTRANT; ownership 75% or more → Less than 5%
Mar 30, 2016 filing
- No longer listedTHE STEPHEN J. ERRICO TRUST DTD 7/1/2004 FBO CAROLINE MARIE ERRICO · MEMBER OF LOCUST WOOD SELECT GP, LLC · 10–25% · listed since Dec 2012
- No longer listedTHE STEPHEN J. ERRICO TRUST DTD 7/1/2004 FBO EMILY ELIZABETH ERRICO · MEMBER OF LOCUST WOOD SELECT GP, LLC · 10–25% · listed since Dec 2012
- No longer listedTHE STEPHEN J. ERRICO TRUST DTD 7/1/2004 FBO JOHN MICHAEL ERRICO · MEMBER OF LOCUST WOOD SELECT GP, LLC · 10–25% · listed since Dec 2012
- No longer listedTHE STEPHEN J. ERRICO TRUST DTD 7/1/2004 FBO ROBERT PETER ERRICO · MEMBER OF LOCUST WOOD SELECT GP, LLC · 10–25% · listed since Dec 2012
- AddedTHE CAROLINE MARIE ERRICO 2015 TRUST DTD 6/4/2015 · MEMBER OF LOCUST WOOD SELECT GP, LLC · 10–25%
- AddedTHE EMILY ELIZABETH ERRICO 2015 TRUST DTD 6/4/2015 · MEMBER OF LOCUST WOOD SELECT GP, LLC · 10–25%
- AddedTHE JOHN MICHAEL ERRICO 2015 TRUST DTD 6/4/2015 · MEMBER OF LOCUST WOOD SELECT GP, LLC · 10–25%
- AddedTHE ROBERT PETER ERRICO 2015 TRUST DTD 6/4/2015 · MEMBER OF LOCUST WOOD SELECT GP, LLC · 10–25%
- ChangedERRICO, ROBERT, LOUIS · title TRUSTEE OF THE SJE 2012 FAMILY TRUST, MEMBER OF LOCUST WOOD CAPITAL MANAGEMENT LLC / TRUSTEE OF THE STEPHEN J. ERRICO TRUST DTD 7/1/2004 FBO CAROLINE MARIE ERRICO, MEMBER OF LOCUST WOOD SELECT GP, LLC / TRUSTEE OF THE STEPHEN J. ERRICO TRUST DTD 7/1/2004 FBO EMILY ELIZABETH ERRICO, MEMBER OF LOCUST WOOD SELECT GP, LLC / TRUSTEE OF THE STEPHEN J. ERRICO TRUST DTD 7/1/2004 FBO JOHN MICHAEL ERRICO, MEMBER OF LOCUST WOOD SELECT GP, LLC / TRUSTEE OF THE STEPHEN J. ERRICO TRUST DTD 7/1/2004 FBO ROBERT PETER ERRICO, MEMBER OF LOCUST WOOD SELECT GP, LLC → TRUSTEE OF THE CAROLINE MARIE ERRICO 2015 TRUST DTD 6/4/2015, MEMBER OF LOCUST WOOD SELECT GP, LLC / TRUSTEE OF THE EMILY ELIZABETH ERRICO 2015 TRUST DTD 6/4/2015, MEMBER OF LOCUST WOOD SELECT GP, LLC / TRUSTEE OF THE JOHN MICHAEL ERRICO 2015 TRUST DTD 6/4/2015, MEMBER OF LOCUST WOOD SELECT GP, LLC / TRUSTEE OF THE ROBERT PETER ERRICO 2015 TRUST DTD 6/4/2015, MEMBER OF LOCUST WOOD SELECT GP, LLC / TRUSTEE OF THE SJE 2012 FAMILY TRUST, MEMBER OF LOCUST WOOD CAPITAL MANAGEMENT LLC
Mar 16, 2015 filing
- AddedERRICO, STEPHEN, JOHN · LIMITED PARTNER · 75% or more · indirect via LWCA PARTNERS LP · control person
- AddedERRICO, STEPHEN, JOHN · MANAGING AND SOLE MEMBER · 75% or more · indirect via LWCA PARTNERS GP LLC · control person
- AddedLWCA PARTNERS GP LLC · GENERAL PARTNER · General partner, trustee or manager · indirect via LWCA PARTNERS LP · control person
- AddedLWCA PARTNERS LP · MANAGING MEMBER OF REGISTRANT · 75% or more · control person
- ChangedERRICO, STEPHEN, JOHN · title MANAGING MEMBER OF LOCUST WOOD CAPITAL MANAGEMENT, LLC / MANAGING MEMBER OF LOCUST WOOD SELECT GP, LLC / MANAGING MEMBER OF REGISTRANT / TRUSTEE OF THE SJE 2012 FAMILY TRUST, MEMBER OF LOCUST WOOD CAPITAL MANAGEMENT LLC → CHIEF INVESTMENT OFFICER OF REGISTRANT / MANAGING MEMBER OF LOCUST WOOD CAPITAL MANAGEMENT, LLC / MANAGING MEMBER OF LOCUST WOOD SELECT GP, LLC / TRUSTEE OF THE SJE 2012 FAMILY TRUST, MEMBER OF LOCUST WOOD CAPITAL MANAGEMENT LLC
- ChangedMORRIS, PAUL, MARTIN · title CHIEF FINANCIAL OFFICER/CHIEF COMPLIANCE OFFICER → CHIEF OPERATING OFFICER/CHIEF COMPLIANCE OFFICER
Feb 6, 2013 filing
- AddedERRICO, ROBERT, LOUIS · TRUSTEE OF THE SJE 2012 FAMILY TRUST, MEMBER OF LOCUST WOOD CAPITAL MANAGEMENT LLC / TRUSTEE OF THE STEPHEN J. ERRICO TRUST DTD 7/1/2004 FBO CAROLINE MARIE ERRICO, MEMBER OF LOCUST WOOD SELECT GP, LLC / TRUSTEE OF THE STEPHEN J. ERRICO TRUST DTD 7/1/2004 FBO EMILY ELIZABETH ERRICO, MEMBER OF LOCUST WOOD SELECT GP, LLC / TRUSTEE OF THE STEPHEN J. ERRICO TRUST DTD 7/1/2004 FBO JOHN MICHAEL ERRICO, MEMBER OF LOCUST WOOD SELECT GP, LLC / TRUSTEE OF THE STEPHEN J. ERRICO TRUST DTD 7/1/2004 FBO ROBERT PETER ERRICO, MEMBER OF LOCUST WOOD SELECT GP, LLC · 50–75% · control person
- AddedTHE SJE 2012 FAMILY TRUST · MEMBER OF LOCUST WOOD CAPITAL MANAGEMENT LLC · 25–50% · control person
- AddedTHE STEPHEN J. ERRICO TRUST DTD 7/1/2004 FBO CAROLINE MARIE ERRICO · MEMBER OF LOCUST WOOD SELECT GP, LLC · 10–25%
- AddedTHE STEPHEN J. ERRICO TRUST DTD 7/1/2004 FBO EMILY ELIZABETH ERRICO · MEMBER OF LOCUST WOOD SELECT GP, LLC · 10–25%
- AddedTHE STEPHEN J. ERRICO TRUST DTD 7/1/2004 FBO JOHN MICHAEL ERRICO · MEMBER OF LOCUST WOOD SELECT GP, LLC · 10–25%
- AddedTHE STEPHEN J. ERRICO TRUST DTD 7/1/2004 FBO ROBERT PETER ERRICO · MEMBER OF LOCUST WOOD SELECT GP, LLC · 10–25%
- ChangedERRICO, STEPHEN, JOHN · title MANAGING MEMBER OF LOCUST WOOD CAPITAL MANAGEMENT, LLC / MANAGING MEMBER OF REGISTRANT → MANAGING MEMBER OF LOCUST WOOD CAPITAL MANAGEMENT, LLC / MANAGING MEMBER OF LOCUST WOOD SELECT GP, LLC / MANAGING MEMBER OF REGISTRANT / TRUSTEE OF THE SJE 2012 FAMILY TRUST, MEMBER OF LOCUST WOOD CAPITAL MANAGEMENT LLC
Apr 2, 2012 filing (earliest on record)
- ListedERRICO, STEPHEN, JOHN · MANAGING MEMBER OF LOCUST WOOD CAPITAL MANAGEMENT, LLC / MANAGING MEMBER OF REGISTRANT · 75% or more · control person
- ListedMORRIS, PAUL, MARTIN · CHIEF FINANCIAL OFFICER/CHIEF COMPLIANCE OFFICER · Less than 5%
Quarter-over-quarter changes
Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.
Top Adds (vs prior quarter)
- META PLATFORMS INC$84.9M +52.9%
- NVIDIA CORPORATION$59.0M +22.1%
- MICROSOFT CORP$54.2M +24.4%
- ABBOTT LABORATORIES$25.7M +16.4%
- GE HEALTHCARE TECHNOLOGIES I$13.2M +17.6%
Top Trims
- ALPHABET INC-$62.9M -26.9%
- GPGI INC-$51.0M -21.6%
- PG&E CORP-$45.9M -51.4%
- LINDE PLC-$20.3M -11.5%
- ELEMENT SOLUTIONS INC-$18.0M -10.6%
New Positions
- ANALOG DEVICES INC$52.7M
- SPACE EXPLORATION TECHN CORP$51.5M
- INTEL CORP$48.6M
- CHARLES RIV LABS INTL INC$17.6M
Exited Positions
- AMRIZE LTD$100.8M
- HONEYWELL INTL INC$57.3M
- HONEYWELL AEROSPACE INC$56.7M
- COUPANG INC$15.2M
LOCUST WOOD CAPITAL ADVISERS, LLC Holdings (2026-09-30)
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | TAIWAN SEMICONDUCTOR MANUFAC | TSM | 874039100 | $346.2M | 7.82% | 758,942 | SH |
| 2 | STATE STR SPDR S&P 500 ETF T Put | SPY | 78462F103 | $334.3M | 7.55% | 438,300 | SH |
| 3 | NVIDIA CORPORATION | NVDA | 67066G104 | $325.7M | 7.35% | 1,426,105 | SH |
| 4 | AMAZON COM INC | AMZN | 023135106 | $299.1M | 6.75% | 1,200,316 | SH |
| 5 | MICROSOFT CORP | MSFT | 594918104 | $276.0M | 6.23% | 538,148 | SH |
| 6 | META PLATFORMS INC | META | 30303M102 | $245.5M | 5.54% | 338,514 | SH |
| 7 | VISA INC | V | 92826C839 | $207.5M | 4.69% | 577,566 | SH |
| 8 | GPGI INC | GPGI | 20459V105 | $185.3M | 4.18% | 15,608,376 | SH |
| 9 | ABBOTT LABORATORIES | ABT | 002824100 | $181.9M | 4.11% | 1,840,699 | SH |
| 10 | S&P GLOBAL INC | SPGI | 78409V104 | $181.8M | 4.11% | 460,916 | SH |
| 11 | ALPHABET INC | GOOGL | 02079K305 | $170.5M | 3.85% | 495,408 | SH |
| 12 | LINDE PLC | LIN | G54950103 | $156.6M | 3.54% | 330,027 | SH |
| 13 | ELEMENT SOLUTIONS INC | ESI | 28618M106 | $150.8M | 3.41% | 4,156,587 | SH |
| 14 | APPLE INC | AAPL | 037833100 | $144.0M | 3.25% | 432,438 | SH |
| 15 | VERTIV HOLDINGS CO | VRT | 92537N108 | $124.7M | 2.82% | 516,740 | SH |
| 16 | CSX CORP | CSX | 126408103 | $120.4M | 2.72% | 2,589,413 | SH |
| 17 | UNITEDHEALTH GROUP INC | UNH | 91324P102 | $118.9M | 2.68% | 323,820 | SH |
| 18 | STERIS PLC | STE | G8473T100 | $99.8M | 2.25% | 475,284 | SH |
| 19 | SHERWIN WILLIAMS CO | SHW | 824348106 | $99.1M | 2.24% | 306,451 | SH |
| 20 | WASTE MGMT INC DEL | WM | 94106L109 | $88.7M | 2.00% | 434,910 | SH |
| 21 | GE HEALTHCARE TECHNOLOGIES I | GEHC | 36266G107 | $88.4M | 2.00% | 1,352,946 | SH |
| 22 | RESOLUTE HLDGS MGMT INC | RHLD | 76134H101 | $85.8M | 1.94% | 725,656 | SH |
| 23 | SUNCOR ENERGY INC NEW | SU | 867224107 | $57.8M | 1.30% | 851,032 | SH |
| 24 | ANALOG DEVICES INC | ADI | 032654105 | $52.7M | 1.19% | 132,743 | SH |
| 25 | SPACE EXPLORATION TECHN CORP | SPCX | 84615Q103 | $51.5M | 1.16% | 341,150 | SH |
| 26 | INTEL CORP | INTC | 458140100 | $48.6M | 1.10% | 403,910 | SH |
| 27 | PG&E CORP | PCG | 69331C108 | $43.4M | 0.98% | 3,545,894 | SH |
| 28 | ELI LILLY & CO | LLY | 532457108 | $38.8M | 0.88% | 33,522 | SH |
| 29 | BERKSHIRE HATHAWAY INC DEL | BRK.B | 084670702 | $34.8M | 0.79% | 69,820 | SH |
| 30 | CHARLES RIV LABS INTL INC | CRL | 159864107 | $17.6M | 0.40% | 59,723 | SH |
| 31 | INVESCO EXCH TRADED FD TR II Put | KBWB | 46138E628 | $17.4M | 0.39% | 200,000 | SH |
| 32 | BERKSHIRE HATHAWAY INC DEL | BRK.A | 084670108 | $17.2M | 0.39% | 23 | SH |
| 33 | VISA INC Call | V | 92826C839 | $11.1M | 0.25% | 31,000 | SH |
| 34 | PG&E CORP Call | PCG | 69331C108 | $6.0M | 0.14% | 488,800 | SH |
| 35 | CANADIAN PACIFIC KANSAS CITY | CP | 13646K108 | $913.1K | 0.02% | 10,730 | SH |
Filing History
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-09-30 | 2026-11-03 | $4.43B | 35 | 0001349434-26-000006 |
| 2026-06-30 | 2026-08-10 | $4.15B | 33 | 0001349434-26-000005 |
| 2026-03-31 | 2026-05-15 | $3.92B | 31 | 0001349434-26-000003 |
| 2026-03-31 | 2026-05-11 | $3.92B | 31 | 0001349434-26-000002 |
| 2026-03-31 | 2026-05-15 | $3.95B | 31 | 0001349434-26-000004 |
| 2025-12-31 | 2026-02-11 | $4.14B | 38 | 0001349434-26-000001 |
| 2025-09-30 | 2025-10-30 | $4.01B | 54 | 0001349434-25-000005 |
Filer Information
Address
90 PARK AVENUE27TH FLOOR
NEW YORK, NY 10016
Phone
(212) 354-5404
Filing Manager
LOCUST WOOD CAPITAL ADVISERS, LLC
NEW YORK, NY
Signatory
Paul Morris
COO/CCO