Appian Way Asset Management LP In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 15, 2024), Appian Way Asset Management LP reported 29 stock positions worth $305.0 million . Its top holding was Sealed Air (SEE) at 9.8% of the portfolio, followed by Sigma Lithium (SGML, 9.6% ) and Dycom Industries (DY, 9.3% ). Compared with Q4 2023, it opened 16 new positions, sold out of 21, added to 9 and reduced 4. The biggest buy was a new position in Sealed Air (SEE) and the biggest sale an exit from Johnson Controls Internation (JCI).
Location NEW YORK, NY
CIK 0001795816
Portfolio Value $305.0M (Q1 2024) Holdings 29 stocks · $305.0M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q4 2023 SEE Sealed Air Corp. 803,156 $29.9M New SGML Sigma Lithium Corp. 2,270,102 $29.4M Add +58.7% DY Dycom Industries Inc. 197,364 $28.3M Add +84.2% NTR Nutrien Ltd. 484,884 $26.3M Add +834.3% WLK Westlake Corp. 164,619 $25.2M New PCT Purecycle Technologies Inc. 3,715,369 $23.1M Add +51.2% CSX CSX Corp. 559,370 $20.7M New CALM Cal-Maine Foods Inc. 222,871 $13.1M Reduce -30.8% MTZ Mastec Inc. 128,683 $12.0M New UAL United Airlines Holdings Inc. 239,069 $11.4M New LHX L3HARRIS Technologies Inc. 50,003 $10.7M Reduce -39.8% ATI Ati Inc. 172,408 $8.8M Add +57.6% ADM Archer-Daniels-Midland Co. 139,806 $8.8M New CSL Carlisle Cos Inc. 22,022 $8.6M Reduce -39.9% CC The Chemours Co. 288,462 $7.6M New GSM Ferroglobe PLC 1,456,169 $7.3M Add +74.4% LPX Louisiana-Pacific Corp. 66,800 $5.6M Add +41.0% VRT Vertiv Holdings Co. Class A 60,400 $4.9M New PSN Parsons Corp. 52,655 $4.4M Add +170.7% BALL Ball Corp. 56,800 $3.8M New ALK Alaska Air Group Inc. 61,418 $2.6M New PPC Pilgrim's Pride Corp. 73,718 $2.5M Reduce -93.5% DRIO Dariohealth Corp. 1,334,142 $2.0M Add +0.9% ENTG Entegris Inc. 13,900 $2.0M New IP International Paper Co. 50,019 $2.0M New WFG West Fraser Timber Co. Ltd. 14,114 $1.2M New CPA Copa Holdings SA Class A 10,400 $1.1M New AMD Advanced Micro Devices 5,900 $1.1M New MBLY Mobileye Global Inc. Class A 17,892 $575K New
Options reported separately and not counted above: PPC calls ($64.4M), PCT calls ($11.9M).
Other holdings (1): bonds, preferreds, convertibles and warrants · $740 (not counted above) Security Class Shares / Principal Value Change DCFWQ Tritium DCFC Ltd. -CW24 *W EXP 01/13/202 24,658 $740 No change
Total filed on the 13F, all lines: $305.0M.
Portfolio Sells Q4 2023 → Q1 2024 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2023 % Of Portfolio Change To Portfolio ▲ JCI Johnson Controls Internation Sold out 0.00% −9.94 PPC Pilgrim's Pride Corp. Reduce -93.5% 0.83% −9.25 NSC Norfolk Southern Corp. Sold out 0.00% −5.03 APD Air Products & Chemicals Inc. Sold out 0.00% −4.19 OC Owens Corning Sold out 0.00% −3.91 FCX Freeport-McMoran Inc. Sold out 0.00% −3.38 GT Goodyear Tire & Rubber Co. Sold out 0.00% −2.38 MEOH Methanex Corp. Sold out 0.00% −2.20 LHX L3HARRIS Technologies Inc. Reduce -39.8% 3.49% −2.18 TS Tenaris SA-ADR Sold out 0.00% −2.08 PPG PPG Industries Inc. Sold out 0.00% −2.04 CALM Cal-Maine Foods Inc. Reduce -30.8% 4.30% −1.68 AGCO Agco Corp. Sold out 0.00% −1.60 MRC MRC Global Inc. Sold out 0.00% −1.54 DAL Delta Air Lines Inc. Sold out 0.00% −1.31 FLR Fluor Corp. Sold out 0.00% −1.16 MOS The Mosaic Co. Sold out 0.00% −1.00 HON Honeywell International Inc. Sold out 0.00% −0.98 CSL Carlisle Cos Inc. Reduce -39.9% 2.83% −0.88 EMR Emerson Electric Co. Sold out 0.00% −0.65 AAL American Airlines Group Inc. Sold out 0.00% −0.64 DE Deere & Co. Sold out 0.00% −0.62 INGR Ingredion Inc. Sold out 0.00% −0.53 OII Oceaneering Intl Inc. Sold out 0.00% −0.52 SLVM Sylvamo Corp. Sold out 0.00% −0.50
Portfolio Buys Q4 2023 → Q1 2024 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2023 % Of Portfolio Change To Portfolio ▼ SEE Sealed Air Corp. New 9.79% +9.79 WLK Westlake Corp. New 8.25% +8.25 NTR Nutrien Ltd. Add +834.3% 8.63% +7.69 CSX CSX Corp. New 6.80% +6.80 DY Dycom Industries Inc. Add +84.2% 9.29% +5.29 PCT Purecycle Technologies Inc. Add +51.2% 7.58% +4.35 MTZ Mastec Inc. New 3.93% +3.93 UAL United Airlines Holdings Inc. New 3.75% +3.75 ADM Archer-Daniels-Midland Co. New 2.88% +2.88 CC The Chemours Co. New 2.48% +2.48 VRT Vertiv Holdings Co. Class A New 1.62% +1.62 ATI Ati Inc. Add +57.6% 2.89% +1.28 BALL Ball Corp. New 1.25% +1.25 PSN Parsons Corp. Add +170.7% 1.43% +1.04 ALK Alaska Air Group Inc. New 0.87% +0.87 LPX Louisiana-Pacific Corp. Add +41.0% 1.84% +0.75 ENTG Entegris Inc. New 0.64% +0.64 IP International Paper Co. New 0.64% +0.64 GSM Ferroglobe PLC Add +74.4% 2.38% +0.62 WFG West Fraser Timber Co. Ltd. New 0.40% +0.40 CPA Copa Holdings SA Class A New 0.36% +0.36 AMD Advanced Micro Devices New 0.35% +0.35 MBLY Mobileye Global Inc. Class A New 0.19% +0.19 DRIO Dariohealth Corp. Add +0.9% 0.67% −0.07 SGML Sigma Lithium Corp. Add +58.7% 9.65% −4.96
Options Activity Q4 2023 → Q1 2024 Security Type Change vs Q4 2023 Underlying Shares Value ▼ PPC Pilgrim's Pride Corp. call Reduce -39.3% 1,877,300 $64.4M CALM Cal-Maine Foods Inc. call Sold out 500,000 $28.7Mbefore exit SPY SS SPDR S&P 500 ETF Trust-US call Sold out 37,000 $17.6Mbefore exit PCT Purecycle Technologies Inc. call Add +664.0% 1,910,000 $11.9M SPY SS SPDR S&P 500 ETF Trust-US put Sold out 24,000 $11.4Mbefore exit OC Owens Corning call Sold out 50,000 $7.4Mbefore exit JCI Johnson Controls Internation call Sold out 113,300 $6.5Mbefore exit LEG Leggett & Platt Inc. call Sold out 200,000 $5.2Mbefore exit SGML Sigma Lithium Corp. call Sold out 111,700 $3.5Mbefore exit
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 0 $0 Q1 2026 0 $0 Q4 2025 0 $0 Q3 2025 28 $460.0M GLNG, PCT, KEX, DAR, SEE Q2 2025 23 $398.3M PCT, GLNG, FTAI, CC, AMCR Q1 2025 26 $422.2M GLNG, SGML, PCT, FTAI, SEE Q4 2024 30 $434.9M GLNG, SGML, SEE, PCT, CC Q3 2024 29 $444.7M PCT, SEE, SGML, DY, CC Q2 2024 38 $389.3M SEE, SPR, PSN, SGML, DY Q1 2024 29 $305.0M SEE, SGML, DY, NTR, WLK