Managers / Q1 2026

Walnut Level Capital LLC

CIK 0001803088 · 1221 SOUTH CLARKSON STREET, SUITE 205, DENVER, CO, 80210 · 303-381-4921

Reported Value

$118M

Q1 2026

Positions

Filings on Record

2019–present window

Filed

May 15, 2026

original filing

Summary

Walnut Level Capital LLC reported $118M in U.S.-listed holdings across 39 positions for Q1 2026.

Its largest position, DAR, represents 12.3% of the portfolio.

Compared with Q4 2025, the fund opened 7 new positions and exited 6.

Portfolio Metrics

Turnover

+29.4%

vs prior filed quarter

Top-10 Concentration

+50.8%

share of reported value

Largest Position

+12.3%

Darling Ingredients

New / Exited

7 / 6

positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value

Portfolio Composition

By security type

Common Stock · 84.8% · $100M
Other · 15.2% · $18M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2025 (amended baseline)

Issuer	Move	Share Δ	Shares now	Value Δ	Value now
G3V GREEN PLAINS INC	NEW	+189.7K	189.7K	+$3M	$3M
ASIX ADVANSIX INC	NEW	+100.0K	100.0K	+$2M	$2M
3TY TITAN MACHY INC	NEW	+64.7K	64.7K	+$1M	$1M
SHW SHERWIN WILLIAMS CO	NEW	+2.4K	2.4K	+$784,386	$784,386
RYAM RAYONIER ADVANCED MATLS INC	NEW	+60.5K	60.5K	+$670,023	$670,023
DOW DOW HLDGS INC	NEW	+10.0K	10.0K	+$416,500	$416,500
MOS MOSAIC CO	NEW	+10.0K	10.0K	+$255,000	$255,000
CE CELANESE CORP DEL	ADDED	+62.5K	70.0K	+$4M	$5M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q1 2026

35 positions

Export to Excel

#	Issuer	Class	% Portfolio	Value ↓	Shares
1	DAR DARLING INGREDIENTS INC history →	COM	12.32%	$15M	234.5K
2	MEOH METHANEX CORP history →	COM	8.78%	$10M	173.7K
3	BUNGE GLOBAL SA	COM SHS	8.00%	$9M	74.0K
4	ANDE ANDERSONS INC history →	COM	4.26%	$5M	70.0K
5	CE CELANESE CORP DEL history →	COM	3.91%	$5M	70.0K
6	APD AIR PRODUCTS AND CHEMICALS I history →	COM	3.33%	$4M	13.5K
7	CTVA CORTEVA INC history →	COM	2.84%	$3M	40.0K
8	REX REX AMERICAN RES CORP history →	COM	2.75%	$3M	71.2K
9	ADECOAGRO S A	COM	2.53%	$3M	198.3K
10	PPC PILGRIMS PRIDE CORP history →	COM	2.08%	$2M	65.0K
11	ASIX ADVANSIX INC history →	COM	2.07%	$2M	100.0K
12	EMN EASTMAN CHEM CO history →	COM	1.94%	$2M	30.0K
13	STKL SUNOPTA INC history →	COM	1.79%	$2M	325.0K
14	ECL ECOLAB INC history →	COM	1.70%	$2M	7.5K
15	MP MP MATERIALS CORP history →	COM CL A	1.64%	$2M	40.0K
16	TRONOX HOLDINGS PLC	SHS	1.49%	$2M	180.0K
17	G3V GREEN PLAINS INC history →	COM	1.25%	$1M	89.7K
18	SFD SMITHFIELD FOODS INC history →	COM	1.21%	$1M	50.9K
19	DWDPEUR DUPONT DE NEMOURS INC history →	COM	1.17%	$1M	30.0K
20	CF CF INDUSTRIES HOLD history →	COM	1.10%	$1M	10.0K
21	OLN OLIN CORP history →	COM PAR $1	1.01%	$1M	40.0K
22	UEO WESTLAKE CORPORATION	COM	0.99%	$1M	10.0K
23	HUN HUNTSMAN CORP	COM	0.96%	$1M	85.0K
24	3TY TITAN MACHY INC	COM	0.92%	$1M	64.7K
25	PPG PPG INDS INC	COM	0.68%	$802,028	7.5K
26	SHW SHERWIN WILLIAMS CO	COM	0.67%	$784,386	2.4K
27	RYAM RAYONIER ADVANCED MATLS INC	COM	0.57%	$670,023	60.5K
28	INGR INGREDION INC	COM	0.48%	$563,300	5.0K
29	AXALTA COATING SYS LTD	COM	0.41%	$484,750	17.5K
30	IFF INTERNATIONAL FLAVORS&FRAGRA	COM	0.41%	$479,846	6.6K
31	DOW DOW HLDGS INC	COM	0.35%	$416,500	10.0K
32	PAHUSD ELEMENT SOLUTIONS INC	COM	0.29%	$341,400	10.0K
33	MOS MOSAIC CO	COM	0.22%	$255,000	10.0K
34	AVO MISSION PRODUCE INC	COM	0.19%	$219,252	15.9K
35	CNH INDL N V	SHS	0.07%	$80,000	80.0K

Filing History

Quarter	Reported Value	Positions	Filed	Type	Links
Q1 2026	$118M	39	May 15, 2026	13F-HR	changes · EDGAR ↗
Q4 2025	$147M	37	Feb 17, 2026	13F-HR	changes · EDGAR ↗
Q3 2025	$167M	37	Nov 14, 2025	13F-HR	changes · EDGAR ↗
Q2 2025	$185M	41	Aug 14, 2025	13F-HR	changes · EDGAR ↗
Q1 2025	$200M	43	May 15, 2025	13F-HR	changes · EDGAR ↗
Q4 2024	$262M	45	Feb 11, 2025	13F-HR	changes · EDGAR ↗
Q3 2024	$239M	35	Nov 13, 2024	13F-HR	changes · EDGAR ↗
Q2 2024	$225M	45	Aug 14, 2024	13F-HR	changes · EDGAR ↗
Q1 2024	$171M	33	May 10, 2024	13F-HR	changes · EDGAR ↗
Q4 2023	$136M	35	Feb 14, 2024	13F-HR	changes · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.