LOCUST WOOD CAPITAL ADVISERS, LLC

CIK 0001349434 · Q1 2026

13F Equity AUM

$3.9B

-4.6% QoQ

Positions

-5 QoQ

AUM Rank

#1,161

Top 9%

Skill Alpha (FF)

+1.6%/yr^ns

No Clear Edge

Rank #1,324 · Top 16%

vs S&P -0.1%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 33.0%Top 10: 55.7%Top 20: 88.8%

TSM6.4%

SPY6.2%

LIN5.9%

V4.1%

Others (19)44.3%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Position Sizing

Positions: 29Median: 3.43%Avg: 3.45%

0–0.5%

3(1.1%)

0.5–1%

1(0.8%)

1–3%

7(14.3%)

3–5%

12(45.5%)

5%+

6(38.2%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Holdings

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