Walnut Level Capital LLC

Hedge Fund • Sector

Walnut Level Capital LLC is a Sector-focused Hedge Fund based in Denver, CO led by Charles William Antrim, reporting $251.5M in AUM as of Q3 2025 with 50% Basic Materials concentration, 76% concentrated in top 10 holdings, and 16% allocation to ANDE.

CIOCharles William Antrim

Portfolio Value: $141.9M
Positions: 31
Top Holding: ANDE at 16.12%
Last Reported: Q3 2025

Address1221 South Clarkson Street, Suite 205, Denver, CO, 80210, United States

Top Holdings

Largest long holdings in Walnut Level Capital LLC's portfolio (76.3% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 Andersons Inc. ANDE	Food Distribution Consumer Defensive	$22.9M	16.12%	+$15.3M Bought	1.68% 574.7K shares	Q2 2025 Held for 5 months
2 Methanex MEOH	Chemicals Basic Materials	$15.8M	11.12%	+$4.2M Bought	0.51% 397.0K shares	Q4 2023 Held for 1y 11m
3 Mission Produce, Inc. AVO	Food Distribution Consumer Defensive	$12.9M	9.11%	+$231.3K Bought	1.52% 1.1M shares	Q4 2023 Held for 1y 11m
4 Bunge BG	Agricultural Farm Products Consumer Defensive	$12.9M	9.08%	-$946.6K Sold	0.08% 158.6K shares	Q4 2023 Held for 1y 11m
5 Darling Ingredients Inc. DAR	Packaged Foods Consumer Defensive	$11.8M	8.30%	+$5.8M Bought	0.24% 381.4K shares	Q4 2023 Held for 1y 11m
6 Avient AVNT	Chemicals - Specialty Basic Materials	$9.9M	6.96%	+$4.0M Bought	0.33% 299.9K shares	Q4 2024 Held for 11 months
7 PPG Industries PPG	Chemicals - Specialty Basic Materials	$8.2M	5.78%	+$1.6M Bought	0.03% 78.0K shares	Q4 2023 Held for 1y 11m
8 Eastman Chemical EMN	Chemicals - Specialty Basic Materials	$5.0M	3.55%	-$709.8K Sold	0.07% 79.8K shares	Q4 2023 Held for 1y 11m
9 Orion OEC	Chemicals - Specialty Basic Materials	$4.5M	3.18%	-$1.8M Sold	1.06% 596.0K shares	Q4 2023 Held for 1y 11m
10 Westlake WLK	Chemicals - Specialty Basic Materials	$4.4M	3.13%	+$4.4M Bought	0.04% 57.7K shares	Q3 2024 Held for 1y 2m

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in Walnut Level Capital LLC's latest filing

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Market Value

$141.9M

Prior: $125.9M

Q/Q Change

+12.71%

+$16.0M

Net Flows % of MV

+7.71%

Turnover Ratio

21.91%

New Purchases

1 stocks

$889.2K

Added To

8 stocks

+$33.4M

Sold Out Of

5 stocks

$15.8M

Reduced Holdings

5 stocks

-$7.6M

Increased Positions

Position	Shares Δ	Change
1 H.B. Fuller FUL	New	0 → 15.0K +$889.2K
2 Andersons Inc. ANDE	+202.23%	190.2K → 574.7K +$15.3M
3 Darling Ingredients Inc. DAR	+97.34%	193.3K → 381.4K +$5.8M
4 Element Solutions ESI	+79.28%	80.0K → 143.4K +$1.6M
5 Avient AVNT	+67.33%	179.2K → 299.9K +$4.0M

Decreased Positions

Position	Shares Δ	Change
1 Archer Daniels Midland ADM	Sold	196.7K → 0 −$10.4M
2 Smithfield Foods SFD	Sold	114.8K → 0 −$2.7M
3 JBS N.V. JBS	Sold	75.0K → 0 −$1.1M
4 FMC Corporation FMC	Sold	25.0K → 0 −$1.0M
5 Nutrien Ltd. NTR	Sold	10.0K → 0 −$582.4K