[SCHEDULE 13G] GPGI, Inc. Passive Investment Disclosure (>5%)
Locust Wood reports 14.9M shares (5.1%) of GPGI
GPGI, Inc. reporting persons led by Locust Wood Capital Advisers, LLC disclose collective beneficial ownership of 14,896,329 shares of Class A Common Stock.
GPGI, Inc. reporting persons led by Locust Wood Capital Advisers, LLC disclose collective beneficial ownership of 14,896,329 shares of Class A Common Stock. The filing states this equals approximately 5.1% of the outstanding Common Stock based on 289,861,033 shares outstanding as of April 15, 2026.
The disclosure breaks down holdings: Locust Wood Capital, LP holds 3,400,000 shares, Locust Wood Ultra Fund, LP holds 757,665 shares, and the Managed Accounts account for 10,738,664 shares. Relationships among the entities and Mr. Stephen Errico are described to explain shared voting and dispositive power.
Positive
None.
Negative
None.
Insights
Institutional group reports a 5.1% aggregate stake via managed accounts.
The filing attributes 14,896,329 shares to Locust Wood-related entities as of June 15, 2026, citing shared voting and dispositive power through management and GP relationships. The breakdown lists 3,400,000, 757,665, and 10,738,664 share components.
Key dependency: the stake is computed against 289,861,033 shares outstanding as of April 15, 2026. Subsequent filings could change the percentage if outstanding share counts shift.
Schedule 13G classifies group ownership and clarifies attribution through adviser and GP structures.
The statement explains why LW Capital Advisers, LWCA, LWCA GP and Stephen Errico may be deemed to have dispositive or voting power over the cited shares, referencing managed accounts and entity relationships. The filing includes exhibit references for group identification.
Filing mechanics: signatures dated 06/22/2026 complete the submission; any changes require amended schedules.
Key Figures
Aggregate shares attributable to reporting group:14,896,329 sharesLocust Wood Capital, LP holdings:3,400,000 sharesLocust Wood Ultra Fund, LP holdings:757,665 shares+3 more
6 metrics
Aggregate shares attributable to reporting group14,896,329 sharesBeneficially owned as described in Item 4 (reported ownership)
Locust Wood Capital, LP holdings3,400,000 sharesAmount held by LW Capital as of June 15, 2026
Locust Wood Ultra Fund, LP holdings757,665 sharesAmount held by LW Ultra as of June 15, 2026
Managed Accounts holdings attributed to Adviser10,738,664 sharesShares held in Managed Accounts managed by Locust Wood Capital Advisers, LLC
Shares outstanding used for percent calculation289,861,033 sharesOutstanding Common Stock as of April 15, 2026 (source: issuer Form 8-K)
Reported ownership percentage5.1%Approximate percent of outstanding Common Stock attributable to reporting persons
"As of June 15, 2026, LW Capital beneficially owned 3,400,000 shares"
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
Dispositive powerregulatory
"Sole Dispositive Power 0.00 8 | Shared Dispositive Power 3,400,000.00"
Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.
Managed Accountsfinancial
"10,738,664 shares of Common Stock held by the Managed Accounts"
Managed accounts are collections of investments owned by an individual or institution but run day-to-day by a professional who buys, sells and allocates assets according to an agreed plan. They matter to investors because they provide tailored oversight, active risk control and potential tax efficiency—like hiring a personal chef to manage your diet—while fees and the manager’s skill directly affect returns.
Schedule 13Gregulatory
"Item 1. | (a) | Name of issuer: GPGI, Inc."
A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How many shares of GPGI does Locust Wood report owning?
The filing reports 14,896,329 shares of Class A Common Stock attributable to Locust Wood-related entities. This aggregate reflects holdings across funds and managed accounts as described in Item 4 of the statement.
What percent of GPGI is represented by the reported stake?
The statement says the group’s holdings equal approximately 5.1% of Common Stock. That percentage is calculated using 289,861,033 shares outstanding as of April 15, 2026 disclosed by the issuer.
Which entities and individuals are part of the reporting group?
The reporting persons are Locust Wood Capital, LP; Locust Wood Ultra Fund, LP; Locust Wood Capital Advisers, LLC; LWCA Partners LP; LWCA Partners GP LLC; and Stephen Errico, with adviser and GP relationships explained in Item 2.
How are voting and dispositive powers allocated in the filing?
The filing states shared voting and dispositive power over certain shares via the investment manager and GP structure. Specific shared power counts are listed for each entity in the cover-page items and Item 4.
What date are the beneficial ownership figures reported as of?
The beneficial ownership amounts are stated as of June 15, 2026 in Item 4. The outstanding-share base used for percent calculation is dated April 15, 2026 per the issuer’s referenced Form 8-K.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
GPGI, Inc.
(Name of Issuer)
GPGI, Inc. ("Issuer") (formerly, CompoSecure, Inc.)
(Title of Class of Securities)
20459V105
(CUSIP Number)
06/15/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
20459V105
1
Names of Reporting Persons
LOCUST WOOD CAPITAL, LP
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
3,400,000.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
3,400,000.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
3,400,000.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
1.2 %
12
Type of Reporting Person (See Instructions)
PN
SCHEDULE 13G
CUSIP Number(s):
20459V105
1
Names of Reporting Persons
Locust Wood Ultra Fund, LP
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
757,665.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
757,665.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
757,665.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
0.3 %
12
Type of Reporting Person (See Instructions)
PN
SCHEDULE 13G
CUSIP Number(s):
20459V105
1
Names of Reporting Persons
LOCUST WOOD CAPITAL ADVISERS, LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
10,416,634.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
14,896,329.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
14,896,329.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
5.1 %
12
Type of Reporting Person (See Instructions)
PN
Comment for Type of Reporting Person: Item 6 includes 6,258,969 shares of Class A Common Stock held in certain client accounts managed by Locust Wood Capital Advisers, LLC. See Item 2 for more information.
Items 8 and 9 include 10,738,664 shares of Class A Common Stock held in certain client accounts managed by Locust Wood Capital Advisers, LLC. See Item 2 for more information.
SCHEDULE 13G
CUSIP Number(s):
20459V105
1
Names of Reporting Persons
LWCA Partners LP
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
10,416,634.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
14,896,329.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
14,896,329.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
5.1 %
12
Type of Reporting Person (See Instructions)
PN
Comment for Type of Reporting Person: Item 6 includes 6,258,969 shares of Class A Common Stock held in certain client accounts managed by Locust Wood Capital Advisers, LLC. See Item 2 for more information.
Items 8 and 9 include 10,738,664 shares of Class A Common Stock held in certain client accounts managed by Locust Wood Capital Advisers, LLC. See Item 2 for more information.
SCHEDULE 13G
CUSIP Number(s):
20459V105
1
Names of Reporting Persons
LWCA Partners GP LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
10,416,634.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
14,896,329.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
14,896,329.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
5.1 %
12
Type of Reporting Person (See Instructions)
OO
Comment for Type of Reporting Person: Item 6 includes 6,258,969 shares of Class A Common Stock held in certain client accounts managed by Locust Wood Capital Advisers, LLC. See Item 2 for more information.
Items 8 and 9 include 10,738,664 shares of Class A Common Stock held in certain client accounts managed by Locust Wood Capital Advisers, LLC. See Item 2 for more information.
SCHEDULE 13G
CUSIP Number(s):
20459V105
1
Names of Reporting Persons
Stephen Errico
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
UNITED STATES
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
10,416,634.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
14,896,329.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
14,896,329.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
5.1 %
12
Type of Reporting Person (See Instructions)
IN
Comment for Type of Reporting Person: Item 6 includes 6,258,969 shares of Class A Common Stock held in certain client accounts managed by Locust Wood Capital Advisers, LLC. See Item 2 for more information.
Items 8 and 9 include 10,738,664 shares of Class A Common Stock held in certain client accounts managed by Locust Wood Capital Advisers, LLC. See Item 2 for more information.
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
GPGI, Inc.
(b)
Address of issuer's principal executive offices:
309 Pierce St., Somerset, NJ 08873
Item 2.
(a)
Name of person filing:
The names of the persons filing this statement on Schedule 13G are (collectively, the "Reporting Persons"):
* Locust Wood Capital, LP ("LW Capital");
* Locust Wood Ultra Fund, LP ("LW Ultra");
* Locust Wood Capital Advisers, LLC ("LW Capital Advisers");
* LWCA Partners LP ("LWCA");
* LWCA Partners GP LLC ("LWCA GP"); and
* Stephen Errico, a United States citizen ("Mr. Errico").
LW Capital Advisers acts as the investment manager of LW Capital and LW Ultra and certain other managed client accounts (the "Managed Accounts"). LWCA acts as the sole member of LW Capital Advisers. LWCA GP acts as the general partner of LWCA. Mr. Errico acts as the managing member of LWCA GP.
By virtue of these relationships, LW Capital Advisers, LWCA, LWCA GP and Mr. Errico may be deemed to have dispositive power with respect to shares of Common Stock (as defined below) held in LW Capital, LW Ultra and the Managed Accounts, and voting power with respect to the shares of Common Stock held in LW Capital, LW Ultra and certain of the Managed Accounts.
(b)
Address or principal business office or, if none, residence:
The principal business address of each of the Reporting Persons is 90 Park Avenue, 27th Floor, New York, NY 10016.
(c)
Citizenship:
Each of LW Capital, LW Ultra and LWCA is a Delaware limited partnership. Each of LW Capital Advisers and LWCA GP is a Delaware limited liability company. Mr Errico is a citizen of the United States.
(d)
Title of class of securities:
GPGI, Inc. ("Issuer") (formerly, CompoSecure, Inc.)
(e)
CUSIP Number(s):
20459V105
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
As of June 15, 2026, LW Capital beneficially owned 3,400,000 shares of Common Stock.
As of June 15, 2026, LW Ultra beneficially owned 757,665 shares of Common Stock.
LW Capital Advisers, as the investment manager of LW Capital and LW Ultra, may be deemed to have beneficially owned the 3,400,000 shares of Common Stock held by LW Capital and the 757,665 shares of Common Stock held by LW Ultra, as well as 10,738,664 shares of Common Stock held by the Managed Accounts.
LWCA, as the sole member of LW Capital Advisers, may be deemed to have beneficially owned the 14,896,329 shares of Common Stock beneficially owned by LW Capital Advisers.
LWCA GP, as the general partner of LWCA, may be deemed to have beneficially owned the 14,896,329 shares of Common Stock beneficially owned by LWCA.
Mr. Errico, as the managing member of LWCA GP, may be deemed to have beneficially owned the 14,896,329 shares of Common Stock beneficially owned by LWCA GP.
(b)
Percent of class:
The following percentage is based on 289,861,033 shares of Common Stock outstanding as of April 15, 2026, as disclosed in the Issuer's Form 8-K filed with the Securities and Exchange Commission on June 12, 2026.
As of June 15, 2026, the Reporting Persons may be deemed to have beneficially owned approximately 5.1% of the outstanding Common Stock.
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
See Cover Pages Items 5-8.
(ii) Shared power to vote or to direct the vote:
See Cover Pages Items 5-8.
(iii) Sole power to dispose or to direct the disposition of:
See Cover Pages Items 5-8.
(iv) Shared power to dispose or to direct the disposition of:
See Cover Pages Items 5-8.
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
Not Applicable
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
If a group has filed this schedule pursuant to §240.13d-1(b)(1)(ii)(K), so indicate under Item 3(k) and attach an exhibit stating the identity and Item 3 classification of each member of the group. If a group has filed this schedule pursuant to §240.13d-1(c) or §240.13d-1(d), attach an exhibit stating the identity of each member of the group.
See Exhibit A.
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
LOCUST WOOD CAPITAL, LP
Signature:
/s/ Stephen Errico
Name/Title:
By: Locust Wood Capital Advisers, LLC, its Inv Mgr By: LWCA Partners LP, its Sole Mbr By: LWCA Partners GP LLC, the GP By: Stephen Errico, Man Mbr
Date:
06/22/2026
Locust Wood Ultra Fund, LP
Signature:
/s/ Stephen Errico
Name/Title:
By: Locust Wood Capital Advisers, LLC, its Inv Mgr By: LWCA Partners LP, its Sole Mbr By: LWCA Partners GP LLC, the GP By: Stephen Errico, Man Mbr
Date:
06/22/2026
LOCUST WOOD CAPITAL ADVISERS, LLC
Signature:
/s/ Stephen Errico
Name/Title:
By: LWCA Partners LP, its Sole Mbr By: LWCA Partners GP LLC, the GP By: Stephen Errico, Man Mbr
Date:
06/22/2026
LWCA Partners LP
Signature:
/s/ Stephen Errico
Name/Title:
By: LWCA Partners GP LLC, the GP By: Stephen Errico, Man Mbr
