Appian Way Asset Management LP

CIK

1795816

Location

NEW YORK, NY

Portfolio Value

Small $459,321,344

Diversification

Diversified

Filing Date

Global Rank

#2,713 / 7,983 ▲ 7

Top Industry

Packaged Foods 16.7%

3Y Alpha vs SPY

+5.2%

Period ended 9 months ago

Filed Nov 14, 2025 · 7mo

23 quarters · since Mar 2020

Clone Performance

Jun 2023–Jun 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+100.3%

SPY

+78.1%

Annualised alpha

+4.8%

Max drawdown

−37.7%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

27 positions · as of Sep 30, 2025 · Δ vs Jun 30, 2025

Top Position

15.7%

+1.7 pts

Top 5

64.4%

+7.3 pts

Top 10

84.6%

+1.8 pts

HHI

965

Diversified+128

Portfolio Trend

23 quarters · across all stocks

Sector Breakdown

As of Sep 30, 2025

Sector	% Portfolio	Value	Positions
Industrials	37.9%	$174,304,213	8
Energy	18.3%	$84,255,860	4
Consumer Defensive	17.1%	$78,545,210	3
Basic Materials	14.4%	$66,154,126	8
Consumer Cyclical	10.3%	$47,277,562	2
Technology	1.7%	$7,797,818	1
Healthcare	0.2%	$986,555	1

Last Quarter's Activity

Export CSV

Sep 30, 2025 vs Jun 30, 2025

Added To

Positions the filer increased

7 positions

Ticker	Company	Δ Shares	Shares	Value
DAR	Darling Ingredients Inc.	+1,539,064	2,334,864	$72,077,251
IAG	Iamgold Corp	+915,050	1,414,929	$18,295,031
SEE	SEALED AIR CORP/DE	+555,540	1,258,601	$44,491,545
KEX	Kirby Corp	+520,535	675,546	$56,374,313
GLNG	Golar Lng Ltd	+421,375	1,633,582	$66,013,048
KNX	Knight-Swift Transportation Holdings Inc.	+109,023	255,978	$10,113,690
PCT	PureCycle Technologies, Inc.	+59,676	4,315,655	$56,750,863
No positions match the current search.

Trimmed

Positions the filer reduced

7 positions

Ticker	Company	Δ Shares	Shares	Value
CC	Chemours Co	−3,240,685	922,656	$14,614,871
ESI	Element Solutions Inc	−848,660	650,872	$16,382,448
TH	Target Hospitality Corp.	−532,524	1,360,609	$11,537,964
FTAI	FTAI Aviation Ltd.	−223,618	191,431	$31,942,176
GXO	GXO Logistics, Inc.	−98,092	30,186	$1,596,537
CORZ	Core Scientific, Inc./tx	−62,576	434,661	$7,797,818
GEO	Geo Group Inc	−19,387	239,168	$4,900,552
No positions match the current search.

New Positions

Positions the filer opened this quarter

13 positions

Ticker	Company	Shares	Value
CE	Celanese Corp	224,589	$9,450,705
NXE	NexGen Energy Ltd.	1,055,403	$9,445,856
SEI	Solaris Energy Infrastructure, Inc.	116,740	$4,666,097
JBS	Jbs N.V.	310,681	$4,638,467
OLN	OLIN Corp	171,672	$4,290,083
CCJ	Cameco Corp	49,259	$4,130,859
PKG	Packaging Corp Of America	12,784	$2,786,017
CALM	Cal-Maine Foods Inc	19,442	$1,829,492
FUL	Fuller H B Co	29,675	$1,759,134
JBHT	Hunt J B Transport Services Inc	8,110	$1,088,118
DRIO	DarioHealth Corp.	56,862	$986,555
AXTA	Axalta Coating Systems Ltd.	25,469	$728,922
TROX	Tronox Holdings plc	157,446	$632,932
No positions match the current search.

Sold Out

Positions the filer fully exited

9 positions

Ticker	Company	Shares	Value
SGML	Sigma Lithium Corp	5,359,019	$24,115,585
CF	CF Industries Holdings, Inc.	90,000	$8,280,000
MOS	Mosaic Co	225,000	$8,208,000
DY	Dycom Industries Inc	28,435	$6,949,229
MTZ	Mastec Inc	32,147	$5,478,813
FCX	Freeport-Mcmoran Inc	93,167	$4,038,789
CSL	Carlisle Companies Inc	8,548	$3,191,823
KTOS	Kratos Defense & Security Solutions, Inc.	49,255	$2,287,894
JBTM	JBT MAREL Corp	16,600	$1,996,316
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

27 positions · $459,321,344 total · as of Sep 30, 2025

All sectors Basic Materials Consumer Cyclical Consumer Defensive Energy Healthcare Industrials Technology

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
DAR	Darling Ingredients Inc. Consumer Defensive	Added	2,334,864	+1,539,064	$72,077,251	+138.7%	15.69%
GLNG	Golar Lng Ltd Energy	Added	1,633,582	+421,375	$66,013,048	+32.2%	14.37%
PCT	PureCycle Technologies, Inc. Industrials	Added	4,315,655	+59,676	$56,750,863	−2.7%	12.36%
KEX	Kirby Corp Industrials	Added	675,546	+520,535	$56,374,313	+220.7%	12.27%
SEE	SEALED AIR CORP/DE Consumer Cyclical	Added	1,258,601	+555,540	$44,491,545	+103.9%	9.69%
FTAI	FTAI Aviation Ltd. Industrials	Reduced	191,431	-223,618	$31,942,176	−33.1%	6.95%
IAG	Iamgold Corp Basic Materials	Added	1,414,929	+915,050	$18,295,031	+397.9%	3.98%
ESI	Element Solutions Inc Basic Materials	Reduced	650,872	-848,660	$16,382,448	−51.8%	3.57%
CC	Chemours Co Basic Materials	Reduced	922,656	-3,240,685	$14,614,871	−69.3%	3.18%
TH	Target Hospitality Corp. Industrials	Reduced	1,360,609	-532,524	$11,537,964	−14.4%	2.51%
KNX	Knight-Swift Transportation Holdings Inc. Industrials	Added	255,978	+109,023	$10,113,690	+55.6%	2.20%
CE	Celanese Corp Basic Materials	NEW	224,589	NEW	$9,450,705	NEW	2.06%
NXE	NexGen Energy Ltd. Energy	NEW	1,055,403	NEW	$9,445,856	NEW	2.06%
CORZ	Core Scientific, Inc./tx Technology	Reduced	434,661	-62,576	$7,797,818	−8.1%	1.70%
GEO	Geo Group Inc Industrials	Reduced	239,168	-19,387	$4,900,552	−20.9%	1.07%
SEI	Solaris Energy Infrastructure, Inc. Energy	NEW	116,740	NEW	$4,666,097	NEW	1.02%
JBS	Jbs N.V. Consumer Defensive	NEW	310,681	NEW	$4,638,467	NEW	1.01%
OLN	OLIN Corp Basic Materials	NEW	171,672	NEW	$4,290,083	NEW	0.93%
CCJ	Cameco Corp Energy	NEW	49,259	NEW	$4,130,859	NEW	0.90%
PKG	Packaging Corp Of America Consumer Cyclical	NEW	12,784	NEW	$2,786,017	NEW	0.61%
CALM	Cal-Maine Foods Inc Consumer Defensive	NEW	19,442	NEW	$1,829,492	NEW	0.40%
FUL	Fuller H B Co Basic Materials	NEW	29,675	NEW	$1,759,134	NEW	0.38%
GXO	GXO Logistics, Inc. Industrials	Reduced	30,186	-98,092	$1,596,537	−74.4%	0.35%
JBHT	Hunt J B Transport Services Inc Industrials	NEW	8,110	NEW	$1,088,118	NEW	0.24%
DRIO	DarioHealth Corp. Healthcare	NEW	56,862	NEW	$986,555	NEW	0.21%
AXTA	Axalta Coating Systems Ltd. Basic Materials	NEW	25,469	NEW	$728,922	NEW	0.16%
TROX	Tronox Holdings plc Basic Materials	NEW	157,446	NEW	$632,932	NEW	0.14%