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Appian Way Asset Management LP

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13F filer, CIK 1795816, NEW YORK, NY

Appian Way Asset Management LP reported $558,012,563 across 30 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-11-14. Its ten largest share positions make up 82.09% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001795816-25-000017

Period
2025-09-30
Reported value
$558M
Holdings
30
Top 10 weight
82.09%
New
14
Sold out
12

Largest buys vs the previous quarter

SecurityShares changeApprox. value
DARadded+1,679,064$51.8M
KEXadded+520,535$43.4M
SEEadded+555,540$19.6M
GLNGadded+421,375$17M
IAGadded+915,050$11.8M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
CCreduced-2,890,685-$45.8M
FTAIreduced-223,618-$37.3M
SGMLexited-5,359,019-$24.1M
ESIreduced-848,660-$21.4M
AMCOR PLCreduced-1,476,866-$12.1M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q3 2025

Share positions as resolved from 13F-HR 0001795816-25-000017, largest first. % of portfolio is the value over $459,952,463, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
GLNGGOLAR LNG LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 417,611 shares; 2024Q4: 1,315,422 shares; 2025Q1: 1,524,621 shares; 2025Q2: 1,212,207 shares; 2025Q3: 1,633,582 shares 1,633,582$66M14.35%+421,375Timeline
PCTPURECYCLE TECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,674,168 shares; 2024Q4: 4,865,682 shares; 2025Q1: 7,351,348 shares; 2025Q2: 3,855,979 shares; 2025Q3: 4,315,655 shares 4,315,655$56.8M12.34%+459,676Timeline
KEXKIRBY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 16,739 shares; 2025Q1: not reported; 2025Q2: 155,011 shares; 2025Q3: 675,546 shares 675,546$56.4M12.26%+520,535Timeline
DARDARLING INGREDIENTS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 65,800 shares; 2025Q3: 1,744,864 shares 1,744,864$53.9M11.71%+1,679,064Timeline
SEESEALED AIR CORP NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,426,247 shares; 2024Q4: 1,515,188 shares; 2025Q1: 1,487,747 shares; 2025Q2: 703,061 shares; 2025Q3: 1,258,601 shares 1,258,601$44.5M9.67%+555,540Timeline
FTAIFTAI AVIATION LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 64,231 shares; 2025Q1: 450,780 shares; 2025Q2: 415,049 shares; 2025Q3: 191,431 shares 191,431$31.9M6.94%-223,618Timeline
AMCOR PLCAMCOR PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 1,806,098 shares; 2025Q1: 933,729 shares; 2025Q2: 3,780,583 shares; 2025Q3: 2,303,717 shares 2,303,717$18.8M4.1%-1,476,866
IAGIAMGOLD CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 499,879 shares; 2025Q3: 1,414,929 shares 1,414,929$18.3M3.98%+915,050Timeline
ESIELEMENT SOLUTIONS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 535,843 shares; 2024Q4: 1,283,213 shares; 2025Q1: 697,988 shares; 2025Q2: 1,499,532 shares; 2025Q3: 650,872 shares 650,872$16.4M3.56%-848,660Timeline
CCCHEMOURS COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,680,673 shares; 2024Q4: 2,532,276 shares; 2025Q1: 2,471,288 shares; 2025Q2: 3,813,341 shares; 2025Q3: 922,656 shares 922,656$14.6M3.18%-2,890,685Timeline
THTARGET HOSPITALITY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 1,804,184 shares; 2025Q2: 1,893,133 shares; 2025Q3: 1,360,609 shares 1,360,609$11.5M2.51%-532,524Timeline
KNXKNIGHT-SWIFT TRANSN HLDGS INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 72,711 shares; 2025Q2: 146,955 shares; 2025Q3: 255,978 shares 255,978$10.1M2.2%+109,023Timeline
CECELANESE CORP DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 224,589 shares 224,589$9.45M2.05%newTimeline
NXENEXGEN ENERGY LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,626,807 shares; 2024Q4: 465,582 shares; 2025Q1: 11,374 shares; 2025Q2: not reported; 2025Q3: 1,055,403 shares 1,055,403$9.45M2.05%newTimeline
CORZCORE SCIENTIFIC INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 539,376 shares; 2025Q2: 497,237 shares; 2025Q3: 434,661 shares 434,661$7.8M1.7%-62,576Timeline
GEOGEO GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 501,830 shares; 2025Q1: 604,872 shares; 2025Q2: 258,555 shares; 2025Q3: 239,168 shares 239,168$4.9M1.07%-19,387Timeline
SEISOLARIS ENERGY INFRAS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 116,740 shares 116,740$4.67M1.01%newTimeline
JBSJBS N.V.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 310,681 shares 310,681$4.64M1.01%newTimeline
OLNOLIN CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 171,672 shares 171,672$4.29M0.93%newTimeline
CCJCAMECO CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 49,259 shares 49,259$4.13M0.9%newTimeline
PKGPACKAGING CORP AMERQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 50,880 shares; 2025Q2: not reported; 2025Q3: 12,784 shares 12,784$2.79M0.61%newTimeline
CALMCAL MAINE FOODS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 19,442 shares 19,442$1.83M0.4%newTimeline
FULFULLER H B COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 29,675 shares 29,675$1.76M0.38%newTimeline
GXOGXO LOGISTICS INCORPORATEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 128,278 shares; 2025Q3: 30,186 shares 30,186$1.6M0.35%-98,092Timeline
JBHTHUNT J B TRANS SVCS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 8,110 shares 8,110$1.09M0.24%newTimeline
DRIODARIOHEALTH CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 56,862 shares 56,862$987K0.21%newTimeline
AXTAAXALTA COATING SYS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 25,469 shares 25,469$729K0.16%newTimeline
TROXTRONOX HOLDINGS PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 157,446 shares 157,446$633K0.14%newTimeline

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

SecurityTypeAmountValueChange
IWMISHARES TR SHSput330,000$79.8Mnew
DARDARLING INGREDIENTS INC Stockcall590,000$18.2M-140,000

Sold out in Q3 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
SGMLSIGMA LITHIUM CORPORATION5,359,019$24.1Mshares
CFCF INDUSTRIES HOLD90,000$8.28Mcall
MOSMOSAIC CO225,000$8.21Mcall
DYDYCOM INDS INC28,435$6.95Mshares
PCTPURECYCLE TECHNOLOGIES INC400,000$5.48Mcall
MTZMASTEC INC32,147$5.48Mshares
FCXFREEPORT MCMORAN INC93,167$4.04Mshares
CCCHEMOURS CO350,000$4.01Mcall
CSLCARLISLE COS INC8,548$3.19Mshares
KTOSKRATOS DEFENSE & SEC SOLUTIO49,255$2.29Mshares
JBTMJBT MAREL CORPORATION16,600$2Mshares
DARIOHEALTH CORPDARIOHEALTH CORP1,280,880$858Kshares

How Q3 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001795816-25-000017 base2025-11-14acceptance time not in the bulk data set