Locust Wood Capital Advisers, LLC In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 8, 2024), Locust Wood Capital Advisers, LLC reported 37 stock positions worth $2.5 billion . Its top holding was Vertiv Class A (VRT) at 7.9% of the portfolio, followed by Linde (LIN, 7.4% ) and Elevance Health (ELV, 5.9% ). Compared with Q4 2023, it opened 7 new positions, sold out of 7, added to 9 and reduced 20. The biggest buy was GE Healthcare Technology (GEHC, shares +119% ) and the biggest sale S&P Global (SPGI, shares −15% ).
Location NEW YORK, NY
CIK 0001349434
Portfolio Value $2.5B (Q1 2024) Holdings 37 stocks · $2.5B Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q4 2023 VRT Vertiv Holdings Co. Class A 2,442,525 $199.5M Reduce -28.5% LIN Linde PLC 406,392 $188.7M Reduce -9.2% ELV Elevance Health Inc. 289,814 $150.3M Add +1.3% TSM Taiwan Semiconductor-SP ADR 1,055,790 $143.6M Reduce -7.3% SU Suncor Energy Inc. 3,084,135 $113.8M Add +12.2% CP Canadian Pacific Kansas City 1,254,643 $110.6M Reduce -7.1% AXTA Axalta Coating Systems Ltd. 3,198,290 $110.0M Add +63.8% APO Apollo Global Management Inc. 975,495 $109.7M Reduce -14.0% ABT Abbott Laboratories 933,780 $106.1M Reduce -10.1% AMZN Amazon.com Inc. 573,695 $103.5M Reduce -4.5% PCG P G & E Corp. 5,925,905 $99.3M Add +1.5% GOOGL Alphabet Inc. Class A 646,929 $97.6M Reduce -1.4% MSFT Microsoft Corp. 220,159 $92.6M Reduce -2.6% SPGI S&P Global Inc. 211,914 $90.2M Reduce -14.5% WM Waste Management Inc. 361,582 $77.1M Reduce -17.0% CRM Salesforce Inc. 236,919 $71.4M Add +7.2% GEHC GE Healthcare Technology 775,778 $70.5M Add +118.7% V Visa Inc. Class A 249,968 $69.8M Reduce -22.8% HON Honeywell International Inc. 322,963 $66.3M Reduce -0.7% ESI Element Solutions Inc. 2,622,850 $65.5M Reduce -2.9% UNH Unitedhealth Group Inc. 130,799 $64.7M Add +4.3% STE Steris PLC 280,926 $63.2M Reduce -8.7% JPM JPMorgan Chase & Co. 296,653 $59.4M Reduce -27.5% BRK.B Berkshire Hathaway Inc. Class B 140,255 $59.0M Reduce -8.3% AAPL Apple Inc. 255,815 $43.9M Reduce -1.4% CZR Caesars Entertainment Inc. 860,250 $37.6M Add +19.9% RH RH 91,422 $31.8M Add +4.6% BRK.A Berkshire Hathaway Inc. Class A 47 $29.8M Reduce -9.6% XLI SS Industrial Select Sector 17,250 $2.2M New SGU Star Group LP 164,620 $1.6M Reduce -2.5% IFF Intl Flavors & Fragrances filed as INTERNATIONAL FLAVORS&FRAGRA 14,000 $1.2M New CNH CNH Industrial NV 86,500 $1.1M New WTS Watts Water Technologies-A 5,150 $1.1M New VMC Vulcan Materials Co. 4,000 $1.1M New FAST Fastenal Co. 14,000 $1.1M New LII Lennox International Inc. 2,200 $1.1M New DINO HF Sinclair Corp. 6,164 $372K No change
Options reported separately and not counted above: SPY puts ($110.9M), LIN puts ($49.2M), VRT puts ($41.0M), ABT calls ($26.4M), CZR calls ($13.7M), V calls ($8.4M), TSM calls ($4.9M).
Portfolio Sells Q4 2023 → Q1 2024 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2023 % Of Portfolio Change To Portfolio ▲ SPGI S&P Global Inc. Reduce -14.5% 3.55% −1.08 V Visa Inc. Class A Reduce -22.8% 2.75% −0.83 ABT Abbott Laboratories Reduce -10.1% 4.18% −0.67 JPM JPMorgan Chase & Co. Reduce -27.5% 2.34% −0.61 AAPL Apple Inc. Reduce -1.4% 1.73% −0.39 STE Steris PLC Reduce -8.7% 2.49% −0.38 LIN Linde PLC Reduce -9.2% 7.44% −0.36 HON Honeywell International Inc. Reduce -0.7% 2.61% −0.28 WM Waste Management Inc. Reduce -17.0% 3.04% −0.27 KVUE Kenvue Inc. Sold out 0.00% −0.22 CP Canadian Pacific Kansas City Reduce -7.1% 4.36% −0.17 APO Apollo Global Management Inc. Reduce -14.0% 4.32% −0.16 GSAT Globalstar Inc. Sold out 0.00% −0.12 GE General Electric Sold out 0.00% −0.07 URI United Rentals Inc. Sold out 0.00% −0.07 ESI Element Solutions Inc. Reduce -2.9% 2.58% −0.07 SEE Sealed Air Corp. Sold out 0.00% −0.07 PCAR Paccar Inc. Sold out 0.00% −0.07 TT Trane Technologies PLC Sold out 0.00% −0.07 GOOGL Alphabet Inc. Class A Reduce -1.4% 3.85% −0.04 BRK.A Berkshire Hathaway Inc. Class A Reduce -9.6% 1.18% −0.02 SGU Star Group LP Reduce -2.5% 0.07% −0.02 BRK.B Berkshire Hathaway Inc. Class B Reduce -8.3% 2.33% +0.01 MSFT Microsoft Corp. Reduce -2.6% 3.65% +0.04 AMZN Amazon.com Inc. Reduce -4.5% 4.08% +0.21 TSM Taiwan Semiconductor-SP ADR Reduce -7.3% 5.66% +0.64 VRT Vertiv Holdings Co. Class A Reduce -28.5% 7.86% +0.90
Portfolio Buys Q4 2023 → Q1 2024 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2023 % Of Portfolio Change To Portfolio ▼ GEHC GE Healthcare Technology Add +118.7% 2.78% +1.62 AXTA Axalta Coating Systems Ltd. Add +63.8% 4.34% +1.52 SU Suncor Energy Inc. Add +12.2% 4.49% +0.75 CRM Salesforce Inc. Add +7.2% 2.81% +0.35 ELV Elevance Health Inc. Add +1.3% 5.92% +0.20 RH RH Add +4.6% 1.26% +0.17 XLI SS Industrial Select Sector New 0.09% +0.09 CZR Caesars Entertainment Inc. Add +19.9% 1.48% +0.06 IFF Intl Flavors & Fragrances New 0.05% +0.05 CNH CNH Industrial NV New 0.04% +0.04 WTS Watts Water Technologies-A New 0.04% +0.04 VMC Vulcan Materials Co. New 0.04% +0.04 FAST Fastenal Co. New 0.04% +0.04 LII Lennox International Inc. New 0.04% +0.04 UNH Unitedhealth Group Inc. Add +4.3% 2.55% −0.25 PCG P G & E Corp. Add +1.5% 3.92% −0.55
Options Activity Q4 2023 → Q1 2024 Security Type Change vs Q4 2023 Underlying Shares Value ▼ SPY SS SPDR S&P 500 ETF Trust-US put Reduce -33.3% 212,000 $110.9M TSM Taiwan Semiconductor-SP ADR put Sold out 487,600 $50.7Mbefore exit LIN Linde PLC put New 106,000 $49.2M VRT Vertiv Holdings Co. Class A put Add +108.1% 501,500 $41.0M ABT Abbott Laboratories call Reduce -17.7% 232,300 $26.4M V Visa Inc. Class A call Reduce -16.7% 30,000 $8.4M ABR Arbor Realty Trust Inc. put Sold out 159,000 $2.4Mbefore exit VRT Vertiv Holdings Co. Class A call Sold out 12,000 $576Kbefore exit
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 31 $4.1B TSM, AMZN, NVDA, GPGI, GOOGL Q1 2026 Amended 27 $3.7B AMZN, TSM, GPGI, LIN, NVDA Q4 2025 32 $4.0B LIN, MSFT, AMZN, TSM, GOOGL Q3 2025 50 $3.7B LIN, TSM, AMZN, MSFT, GPGI Q2 2025 50 $3.4B TSM, LIN, AMZN, MSFT, VRT Q1 2025 42 $2.9B LIN, MSFT, TSM, WM, AMZN Q4 2024 37 $2.7B TSM, LIN, PCG, AMZN, GOOGL Q3 2024 40 $2.9B LIN, TSM, VRT, AXTA, PCG Q2 2024 37 $2.7B LIN, TSM, ELV, VRT, AXTA Q1 2024 37 $2.5B VRT, LIN, ELV, TSM, SU