LOCUST WOOD CAPITAL ADVISERS, LLC

Hedge Fund • Value

LOCUST WOOD CAPITAL ADVISERS, LLC is a Value-focused Hedge Fund based in New York, NY led by Stephen John Errico, managing $3.7B across 50 long positions as of Q3 2025 with 52% concentrated in top 10 holdings.

CIOStephen John Errico

Portfolio Value: $3.7B
Positions: 50
Top Holding: LIN at 6.66%
Last Reported: Q3 2025

Address90 Park Avenue, Floor 27, New York, NY, 10016, United States

Top Holdings

Largest long holdings in LOCUST WOOD CAPITAL ADVISERS, LLC's portfolio (52% of total portfolio)

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Holding	Sector	Market Value	Weight	Traded	Ownership	Owned Since
1 Linde LIN	Chemicals - Specialty Basic Materials	$244.1M	6.66%	+$17.9M Bought	0.11% 513.9K shares	Q4 2018 Held for 6y 11m
2 Taiwan Semiconductor Manufacturing Company TSM	Semiconductors Technology	$233.1M	6.36%	-$74.7M Sold	— 834.5K shares	Q4 2023 Held for 1y 11m
3 Amazon AMZN	Specialty Retail Consumer Cyclical	$232.1M	6.34%	+$10.9M Bought	0.01% 1.1M shares	Q1 2018 Held for 7y 8m
4 Microsoft MSFT	Software - Infrastructure Technology	$211.7M	5.78%	-$17.2M Sold	0.01% 408.7K shares	Q3 2017 Held for 8y 2m
5 CompoSecure CMPO	Manufacturing - Metal Fabrication Industrials	$194.5M	5.31%	+$24.6M Bought	9.12% 9.3M shares	Q3 2024 Held for 1y 2m
6 Alphabet Inc. GOOGL	Internet Content & Information Communication Services	$181.8M	4.96%	-$4.3M Sold	0.01% 747.8K shares	Q2 2019 Held for 6y 5m
7 Vertiv Holdings Co VRT	Electrical Equipment & Parts Industrials	$169.0M	4.61%	-$30.8M Sold	0.29% 1.1M shares	Q3 2018 Held for 7y 2m
8 GE HealthCare Technologies GEHC	Medical - Healthcare Information Services Healthcare	$156.5M	4.27%	+$10.4M Bought	0.46% 2.1M shares	Q4 2023 Held for 1y 11m
9 Apple AAPL	Consumer Electronics Technology	$143.8M	3.92%	+$20.6M Bought	0.00% 564.5K shares	≤ Q2 2013 Held for 12y 5m+
10 S&P Global SPGI	Financial - Data & Stock Exchanges Financial Services	$139.3M	3.80%	+$31.0M Bought	0.09% 286.2K shares	Q2 2019 Held for 6y 5m

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in LOCUST WOOD CAPITAL ADVISERS, LLC's latest filing

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Market Value

$3.7B

Prior: $3.4B

Q/Q Change

+8.09%

+$274.0M

Net Flows % of MV

-0.901%

Turnover Ratio

10.82%

New Purchases

4 stocks

$136.2M

Added To

14 stocks

+$207.6M

Sold Out Of

12 stocks

$63.2M

Reduced Holdings

23 stocks

-$313.7M

Increased Positions

Position	Shares Δ	Change
1 Resideo Technologies, Inc. REZI	New	0 → 1.2M +$50.9M
2 Sherwin-Williams SHW	New	0 → 137.6K +$47.6M
3 Amrize Ltd AMRZ	New	0 → 761.9K +$37.0M
4 Crown Holdings CCK	New	0 → 7.1K +$687.7K
5 ServiceNow NOW	+100.49%	44.2K → 88.6K +$40.9M

Decreased Positions

Position	Shares Δ	Change
1 Caesars Entertainment, Inc. CZR	Sold	1.9M → 0 −$55.2M
2 Eaton Corporation ETN	Sold	2.2K → 0 −$801.4K
3 Saia SAIA	Sold	2.9K → 0 −$791.8K
4 3M MMM	Sold	5.1K → 0 −$782.5K
5 nVent Electric plc NVT	Sold	10.7K → 0 −$780.8K