Locust Wood Capital Advisers portfolio
Concentrated managerInvestment firmPortfolio as of Sep 30, 2026 (Q3 2026) · filed with the SEC on Nov 3, 2026 · data updated on Nov 5, 2026 · Q3 2026 13F (filing) ↗ · all its 13F filings ↗
A 13F shows the portfolio at quarter-end and is filed up to 45 days later: these are not real-time positions and they may have changed.
Locust Wood Capital Advisers reported a $4.1 bn portfolio of 30 companies (31 positions, counting each share class separately) to the SEC as of the end of Q3 2026. Its largest positions are TSM, NVDA, AMZN. During the quarter it opened Analog Devices and Space Exploration Technologies and exited Amrize and Honeywell International.
Sections with a free account
What changed this quarter
33 positions with a change (4 new, 13 added to, 12 trimmed, 4 sold). 12 are listed here: those of 0.5 points of the portfolio or more (up to 12).
- Amrize−2.4 ppof portfolioSold out2.4% → —
- Honeywell International−1.4 ppof portfolioSold out1.4% → —
- Honeywell Aerospace−1.4 ppof portfolioSold out1.4% → —
- Alphabet−24%fewer sharesReduced5.6% → 4.2%
- Analog Devices+1.3 ppof portfolioNew— → 1.3%
- Space Exploration Technologies+1.2 ppof portfolioNew— → 1.3%
- Intel+1.2 ppof portfolioNew— → 1.2%
- Meta Platforms+19%more sharesIncreased3.9% → 6.0%
- Microsoft−9.5%fewer sharesReduced5.4% → 6.8%
- Vertiv Holdings+27%more sharesIncreased3.3% → 3.1%
- UnitedHealth Group+27%more sharesIncreased2.6% → 2.9%
- Taiwan Semiconductor Manufacturing+7.5%more sharesIncreased8.2% → 8.5%
The figure on the right: for positions added to or trimmed, the change in the number of shares (%); for new and sold ones, the points of the portfolio moved (pp). Below, the portfolio weight before → after. Traded weight: what it bought or sold, excluding price effects.
Top holdings
- Taiwan Semiconductor ManufacturingTSM8.5%
- NVIDIANVDA8.0%
- Amazon.comAMZN7.4%
- MicrosoftMSFT6.8%
- Meta PlatformsMETA6.0%
- VisaV5.1%
- GPGIGPGI4.6%
- Abbott LaboratoriesABT4.5%
- S&P GlobalSPGI4.5%
- AlphabetGOOGL4.2%
- LindeLIN3.9%
- Element SolutionsESI3.7%
- AppleAAPL3.5%
- Vertiv HoldingsVRT3.1%
- CSXCSX3.0%
“Since”: first quarter of the current run, unbroken until today. In the details, prices are the quarter-end prices of the quarters in which it added shares, per the 13F. The manager may have bought at any price within each quarter; the SEC only publishes the value at quarter end.
Portfolio by sector
- ● Information Technology 29%
- ● Financials 18%
- ● Health Care 13%
- ● Communication Services 10%
- ● Materials 10%
- ● Industrials 10%
- ● Consumer Discretionary 7%
- ● Energy 1%
- ● Utilities 1%
How its portfolio changed (8 quarters)
Q3 2026: 31
Q3 2026: 60%
Q3 2026: 9.6%
Traded turnover: the weight it bought plus the weight it sold in the quarter, divided by two, excluding price moves. The plain “turnover” in the header does include that effect. With a free account: the full history and sectors over time.
13F filings with amendments or confidential positions
Declared options (4)
Besides stocks, Locust Wood Capital Advisers declared 2 puts (they gain if the stock falls) and 2 calls (they gain if it rises) with a notional of $369M. The 13F reports the value of the underlying shares, not the premium paid, so these figures look large and are not added to the portfolio. Nor does it say whether the option is bought or written, or its strike or expiry: it may be a hedge.
- PUTState Str Spdr S&P 500 ETF TSPYnew this quarter$334M
- PUTInvesco KBW Bank ETFKBWBnew this quarter$17.4M
- CALLVisaV$11.1M
- CALLPg&ePCG$6.0M
Stakes above 5% (13D/13G)
Companies where this filer reported holding 5% or more of the shares. It is the figure from its latest filing on each one; history since December 2024.
How we classify it
Investment firm, per its Form ADV of Mar 27, 2026 (medium confidence).
The data, as reported: LOCUST WOOD CAPITAL ADVISERS, LLC (CRD 135140): Institutional mandates; 5.D assets by client type: other advisers 32%, pooled vehicles 30%, pension plans 15%, governments 14% (of $4.4 bn); 5.F 17 accounts, 0% non-discretionary; 5.D 18 clients, 3 individuals
The type comes from a rule applied to that data. If it looks wrong, tell us.
Similar managers by type and size
Same type of filer and a 13F portfolio value between a third and three times this one. It is not a comparison of what they hold.
- Hamlin Capital ManagementInvestment firm · $4.0 bn
- PAR Capital ManagementInvestment firm · $4.0 bn
- Jensen Investment ManagementInvestment firm · $4.1 bn
- TCG Crossover ManagementInvestment firm · $4.2 bn
- C WorldWide Group Holding A/SInvestment firm · $4.0 bn
- Crake Asset Management LLPInvestment firm · $4.2 bn