In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 13, 2024), Walnut Level Capital LLC reported 27 stock positions worth $166.1 million . Its top holding was Methanex (MEOH) at 14.6% of the portfolio, followed by Eastman Chemical (EMN, 10.3% ) and Huntsman (HUN, 10.2% ). Compared with Q2 2024, it opened 5 new positions, sold out of 12, added to 11 and reduced 5. The biggest buy was a new position in Westlake (WLK) and the biggest sale PPG Industries (PPG, shares −48% ).
Location DENVER, CO
CIK 0001803088
Portfolio Value $166.1M (Q3 2024) Holdings 27 stocks · $166.1M 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 Q2 2024 MEOH Methanex Corp. 585,933 $24.2M Add +36.2% EMN Eastman Chemical Co. 153,542 $17.2M Add +15.7% HUN Huntsman Corp. 698,719 $16.9M Add +48.6% APD Air Products & Chemicals Inc. 50,392 $15.0M Reduce -31.2% HRL Hormel Foods Corp. 333,000 $10.6M Add +70.8% OLN Olin Corp. 188,339 $9.0M Add +169.1% OEC Orion SA 460,793 $8.2M Reduce -26.5% PPG PPG Industries Inc. 57,954 $7.7M Reduce -48.2% CE Celanese Corp. 55,000 $7.5M Add +633.3% WLK Westlake Corp. 45,000 $6.8M New DD Dupont DE Nemours Inc. 70,000 $6.2M Add +27.3% AVO Mission Produce Inc. 376,906 $4.8M Add +12.5% TROX Tronox Holdings PLC 305,000 $4.5M Add +69.4% REX Rex American Resources Corp. 91,927 $4.3M Add +158.3% FCX Freeport-McMoran Inc. 80,000 $4.0M New PPC Pilgrim's Pride Corp. 65,000 $3.0M No change TECK Teck Resources Ltd.-CLS B 47,500 $2.5M New BG Bunge Global SA 25,000 $2.4M No change CTVA Corteva Inc. 40,000 $2.4M No change AGRO Adecoagro SA 198,317 $2.2M Reduce -17.8% STKL Sunopta Inc. 325,000 $2.1M No change MP MP Materials Corp. 92,530 $1.6M Reduce -44.1% CC The Chemours Co. 50,000 $1.0M Add +16.9% CMP Compass Minerals Internation 60,000 $721K New IE Ivanhoe Electric Inc. / US 80,000 $677K New AXTA Axalta Coating Systems Ltd. 17,500 $633K No change CNH CNH Industrial NV 80,000 $80K No change
Options reported separately and not counted above: MEOH calls ($22.7M), PPG puts ($13.2M), HUN puts ($12.1M), OEC calls ($8.9M), DAR calls ($7.4M), OEC puts ($3.6M), AVO calls ($2.6M), REX calls ($2.3M).
Portfolio Sells Q2 2024 → Q3 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 Q2 2024 % Of Portfolio Change To Portfolio ▲ PPG PPG Industries Inc. Reduce -48.2% 4.62% −4.94 OEC Orion SA Reduce -26.5% 4.94% −4.39 APD Air Products & Chemicals Inc. Reduce -31.2% 9.03% −3.80 DAR Darling Ingredients Inc. Sold out 0.00% −3.71 LW Lamb Weston Holdings Inc. Sold out 0.00% −1.97 SHW The Sherwin-Williams Co. Sold out 0.00% −1.52 CF CF Industries Holdings Inc. Sold out 0.00% −1.51 ECL Ecolab Inc. Sold out 0.00% −1.22 TSN Tyson Foods Inc. Class A Sold out 0.00% −0.97 MOS The Mosaic Co. Sold out 0.00% −0.83 MP MP Materials Corp. Reduce -44.1% 0.98% −0.45 IFF Intl Flavors & Fragrances Sold out 0.00% −0.43 INGR Ingredion Inc. Sold out 0.00% −0.39 AGRO Adecoagro SA Reduce -17.8% 1.32% −0.27 LIN Linde PLC Sold out 0.00% −0.02 GIS General Mills Inc. Sold out 0.00% −0.01 ANDE The Andersons Inc. Sold out 0.00% −0.01
Portfolio Buys Q2 2024 → Q3 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 Q2 2024 % Of Portfolio Change To Portfolio ▼ WLK Westlake Corp. New 4.07% +4.07 CE Celanese Corp. Add +633.3% 4.50% +3.82 OLN Olin Corp. Add +169.1% 5.44% +3.20 HUN Huntsman Corp. Add +48.6% 10.18% +2.92 FCX Freeport-McMoran Inc. New 2.40% +2.40 HRL Hormel Foods Corp. Add +70.8% 6.36% +2.32 EMN Eastman Chemical Co. Add +15.7% 10.35% +1.53 TECK Teck Resources Ltd.-CLS B New 1.49% +1.49 REX Rex American Resources Corp. Add +158.3% 2.56% +1.46 TROX Tronox Holdings PLC Add +69.4% 2.69% +0.77 DD Dupont DE Nemours Inc. Add +27.3% 3.76% +0.75 AVO Mission Produce Inc. Add +12.5% 2.91% +0.66 MEOH Methanex Corp. Add +36.2% 14.58% +0.50 CMP Compass Minerals Internation New 0.43% +0.43 IE Ivanhoe Electric Inc. / US New 0.41% +0.41 CC The Chemours Co. Add +16.9% 0.61% −0.04
Options Activity Q2 2024 → Q3 2024 Security Type Change vs Q2 2024 Underlying Shares Value ▼ MEOH Methanex Corp. call Add +57.1% 550,000 $22.7M PPG PPG Industries Inc. put New 100,000 $13.2M HUN Huntsman Corp. put New 500,000 $12.1M BG Bunge Global SA put Sold out 100,000 $10.7Mbefore exit IWM iShares Russell 2000 ETF put Sold out 50,000 $10.1Mbefore exit OEC Orion SA call Reduce -4.8% 500,000 $8.9M ADM Archer-Daniels-Midland Co. put Sold out 137,500 $8.3Mbefore exit OEC Orion SA put New 200,000 $3.6M AVO Mission Produce Inc. call Add +100.0% 200,000 $2.6M MP MP Materials Corp. call Sold out 200,000 $2.5Mbefore exit CC The Chemours Co. put Sold out 110,000 $2.5Mbefore exit REX Rex American Resources Corp. call Reduce -50.0% 50,000 $2.3M HUN Huntsman Corp. call Sold out 100,000 $2.3Mbefore 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 35 $87.6M DAR, MEOH, BG, ANDE, CE Q4 2025 32 $125.3M ANDE, MEOH, DAR, BG, AVO Q3 2025 31 $141.1M ANDE, MEOH, AVO, BG, DAR Q2 2025 34 $124.9M BG, AVO, ADM, MEOH, OEC Q1 2025 33 $125.2M HUN, OEC, MEOH, AVO, AVNT Q4 2024 36 $182.3M MEOH, PPG, EMN, HUN, OEC Q3 2024 27 $166.1M MEOH, EMN, HUN, APD, HRL Q2 2024 34 $147.4M MEOH, APD, PPG, OEC, EMN Q1 2024 27 $119.0M MEOH, APD, OEC, DD, HUN