Appian Way Asset Management LP
CIK 1795816 · View on SEC EDGAR ↗
- Portfolio value
- $558.0M
- Positions
- 30
- As of
- Sept. 30, 2025 Data as of Q3 2025
#3,526 of 9,443 by 13F value · top 37.3%
Portfolio value QoQ: +23.5% 13F does not disclose cash
- Top 10 holdings weight
- 79.68%
- Top 25 holdings weight
- 99.10%
- Positions above 1%
- 17
- Effective number of positions
- 12.4
Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)
Turnover Q3 2025: 38.94% Est. buys $280,401,333 · sells $196,634,882
- New positions
- 14
- Increased
- 7
- Decreased
- 9
- Closed
- 9
Put-notional exposure: 14.3% puts 13F reports option positions at underlying notional value — may include hedges, not necessarily bearish bets
On this page
- Performance vs S&P How this manager's 13F portfolio performed against the S&P 500.
- Sector breakdown How the portfolio splits across market sectors.
- Portfolio Every stock this institution reports holding, from its latest 13F.
- Biggest new bets Brand-new positions opened in the latest quarter.
- Top moves The biggest position increases and decreases this quarter.
- Exited positions Positions the manager fully sold out of last quarter.
Performance vs S&P 500
Approximates a buy-and-hold portfolio built from quarterly SEC 13F snapshots. Excludes cash, short positions, options/derivatives, and non-13(f) securities — reflects the disclosed long-equity book only, not total fund AUM. SEC filing lag is up to 45 days; this is not a real-time-copyable timing.
Priceable coverage: 91.6% · Options excluded: 8.7%
Sector breakdown
Materials
22.0%
Industrials
18.7%
Energy
15.1%
Consumer Staples
14.1%
Packaging
3.9%
Consumer Discretionary
2.1%
Technology
1.4%
Logistics & Transportation
0.3%
Health Care
0.2%
Other/Unmapped
22.3%
Full portfolio 30 positions
| Type | Streak | 8Q trend | |||||
|---|---|---|---|---|---|---|---|
| IWM | $79,846,800 | 14.31% | 330,000 | Put option | Up ×1 | ||
| GLNG Golar LNG Limited - Common Shares | $66,013,049 | 11.83% | 1,633,582 | $16,082,243 | Up ×1 | ||
| PCT PureCycle Technologies, Inc. - Common stock | $56,750,863 | 10.17% | 4,315,655 | $3,923,951 | Up ×1 | ||
| KEX Kirby Corporation Common Stock | $56,374,314 | 10.10% | 675,546 | $38,794,516 | Up ×1 | ||
| DAR Darling Ingredients Inc. Common Stock | $53,863,952 | 9.65% | 1,744,864 | $51,367,500 | Up ×1 | ||
| SEE | $44,491,545 | 7.97% | 1,258,601 | $22,675,562 | Up ×1 | ||
| FTAI FTAI Aviation Ltd. - Common Stock | $31,942,177 | 5.72% | 191,431 | $-15,805,060 | Down ×2 | ||
| AMCR Amcor plc Ordinary Shares | $18,844,405 | 3.38% | 2,303,717 | $-15,899,153 | Down ×1 | ||
| IAG Iamgold Corporation Ordinary Shares | $18,295,032 | 3.28% | 1,414,929 | $14,620,921 | Up ×1 | ||
| DAR Darling Ingredients Inc. Common Stock | $18,213,300 | 3.26% | 590,000 | Call option | $-9,482,900 | Down ×1 | |
| ESI Element Solutions Inc. Common Stock | $16,382,448 | 2.94% | 650,872 | $-17,581,952 | Down ×1 | ||
| CC Chemours Company (The) Common Stock | $14,614,871 | 2.62% | 922,656 | $-29,047,883 | Down ×1 | ||
| TH Target Hospitality Corp. - Common Stock | $11,537,964 | 2.07% | 1,360,609 | $-1,941,143 | Down ×1 | ||
| KNX Knight-Swift Transportation Holdings Inc. | $10,113,691 | 1.81% | 255,978 | $3,613,871 | Up ×2 | ||
| CE Celanese Corporation Common Stock | $9,450,705 | 1.69% | 224,589 | Up ×1 | |||
| NXE Nexgen Energy Ltd. Common Shares | $9,445,857 | 1.69% | 1,055,403 | ||||
| CORZ Core Scientific, Inc. - Common Stock | $7,797,818 | 1.40% | 434,661 | $-690,018 | Down ×2 | ||
| GEO Geo Group Inc (The) REIT | $4,900,552 | 0.88% | 239,168 | $-1,291,840 | Down ×2 | ||
| SEI Solaris Energy Infrastructure, Inc. Class A Common Stock | $4,666,098 | 0.84% | 116,740 | Up ×1 | |||
| JBS JBS N.V. Class A Common Shares | $4,638,467 | 0.83% | 310,681 | Up ×1 | |||
| OLN Olin Corporation Common Stock | $4,290,083 | 0.77% | 171,672 | Up ×1 | |||
| CCJ Cameco Corporation Common Stock | $4,130,860 | 0.74% | 49,259 | Up ×1 | |||
| PKG Packaging Corporation of America Common Stock | $2,786,017 | 0.50% | 12,784 | ||||
| CALM Cal-Maine Foods, Inc. - Common Stock | $1,829,492 | 0.33% | 19,442 | Up ×1 | |||
| FUL H. B. Fuller Company Common Stock | $1,759,134 | 0.32% | 29,675 | Up ×1 | |||
| GXO GXO Logistics, Inc. Common Stock | $1,596,538 | 0.29% | 30,186 | $-4,650,601 | Down ×1 | ||
| JBHT J.B. Hunt Transport Services, Inc. - Common Stock | $1,088,119 | 0.19% | 8,110 | Up ×1 | |||
| DRIO DarioHealth Corp. - Common Stock | $986,556 | 0.18% | 56,862 | Up ×1 | |||
| AXTA Axalta Coating Systems Ltd. Common Shares | $728,923 | 0.13% | 25,469 | Up ×1 | |||
| TROX Tronox Holdings plc Ordinary Shares (UK) | $632,933 | 0.11% | 157,446 | Up ×1 | |||
| No matches | |||||||
Biggest new bets
New positions opened this quarter, largest first.
| Security | Value | Shares | % of portfolio |
|---|---|---|---|
| IWM | $79,846,800 | 330,000 | 14.31% |
| CE | $9,450,705 | 224,589 | 1.69% |
| NXE | $9,445,857 | 1,055,403 | 1.69% |
| SEI | $4,666,098 | 116,740 | 0.84% |
| JBS | $4,638,467 | 310,681 | 0.83% |
| OLN | $4,290,083 | 171,672 | 0.77% |
| CCJ | $4,130,860 | 49,259 | 0.74% |
| PKG | $2,786,017 | 12,784 | 0.50% |
| CALM | $1,829,492 | 19,442 | 0.33% |
| FUL | $1,759,134 | 29,675 | 0.32% |
| JBHT | $1,088,119 | 8,110 | 0.19% |
| DRIO | $986,556 | 56,862 | 0.18% |
| AXTA | $728,923 | 25,469 | 0.13% |
| TROX | $632,933 | 157,446 | 0.11% |
Top movers (QoQ)
| Security | Action | Shares Δ | Value Δ |
|---|---|---|---|
| KEX | Bought more | +521K | +$38.8M |
| CC | Trimmed | -2.9M | -$29.0M |
| SEE | Bought more | +556K | +$22.7M |
| ESI | Trimmed | -849K | -$17.6M |
| GLNG | Bought more | +421K | +$16.1M |
| AMCR | Trimmed | -1.5M | -$15.9M |
| FTAI | Trimmed | -224K | -$15.8M |
| IAG | Bought more | +915K | +$14.6M |
| DAR | Trimmed | -140K | -$9.5M |
| GXO | Trimmed | -98K | -$4.7M |
1 position hidden (data completeness check)
Exited positions
Includes corporate events (mergers, delistings) — not all exits are sells
Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.
| Security | Quarter | Shares before | Value before | Price since exit |
|---|---|---|---|---|
| SGML | Sept. 30, 2025 | 5,359,019 | $24,115,586 | 81.6% |
| IWM | June 30, 2025 | 57,500 | $11,470,675 | No longer tracked |
| PKG | June 30, 2025 | 50,880 | $10,075,258 | 33.2% |
| PSN | June 30, 2025 | 153,688 | $9,099,866 | -33.0% |
| CF | Sept. 30, 2025 | 90,000 | $8,280,000 | 42.3% |
| MOS | Sept. 30, 2025 | 225,000 | $8,208,000 | -31.5% |
| DY | Sept. 30, 2025 | 28,435 | $6,949,230 | 39.0% |
| BA | June 30, 2025 | 36,666 | $6,253,386 | 2.4% |
| MTZ | Sept. 30, 2025 | 32,147 | $5,478,813 | 28.6% |
| ATI | June 30, 2025 | 91,765 | $4,774,533 | 145.0% |
| FCX | Sept. 30, 2025 | 93,167 | $4,038,789 | 96.6% |
| CSL | Sept. 30, 2025 | 8,548 | $3,191,823 | 9.7% |
| KTOS | Sept. 30, 2025 | 49,255 | $2,287,895 | -36.3% |
| JBTM | Sept. 30, 2025 | 16,600 | $1,996,316 | -18.1% |
| WWD | June 30, 2025 | 8,044 | $1,467,950 | 40.7% |
| GEV | June 30, 2025 | 4,000 | $1,221,120 | 83.4% |
| WFG | June 30, 2025 | 15,131 | $1,164,179 | -5.3% |
| WLK | June 30, 2025 | 7,165 | $716,715 | 4.1% |
| AVNT | June 30, 2025 | 17,074 | $634,470 | 37.7% |
| NXE | June 30, 2025 | 11,374 | $51,069 | 54.3% |