Managers / Q2 2025 · view latest →

Walnut Level Capital LLC

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

Reported Value

$185M

Q2 2025

Positions

Filings on Record

2019–present window

Filed

Aug 14, 2025

original filing

Summary

Walnut Level Capital LLC reported $185M in U.S.-listed holdings across 41 positions for Q2 2025.

Its largest position, Bunge Global, represents 7.4% of the portfolio.

Compared with Q1 2025, the fund opened 6 new positions and exited 5.

Portfolio Metrics

Turnover

+38.4%

vs prior filed quarter

Top-10 Concentration

+48.0%

share of reported value

Largest Position

+7.4%

Bunge Global

New / Exited

6 / 5

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 · 73.9% · $137M
Other · 26.1% · $48M

Quarter-over-Quarter Changes full breakdown →

vs Q1 2025 (amended baseline)

Issuer	Move	Share Δ	Shares now	Value Δ	Value now
ADM ARCHER DANIELS MIDLAND CO	NEW	+296.7K	296.7K	+$16M	$16M
ANDE ANDERSONS INC	NEW	+190.2K	190.2K	+$7M	$7M
HRL HORMEL FOODS CORP	NEW	+75.0K	75.0K	+$2M	$2M
PAHUSD ELEMENT SOLUTIONS INC	NEW	+80.0K	80.0K	+$2M	$2M
JBS N.V.	NEW	+75.0K	75.0K	+$1M	$1M
FMC FMC CORP	NEW	+25.0K	25.0K	+$1M	$1M
BUNGE GLOBAL SA	ADDED	+295.2K	320.2K	+$24M	$26M
CF CF INDS HLDGS INC	ADDED	+50.0K	60.0K	+$5M	$6M

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

Holdings — Q2 2025

34 positions

Export to Excel

#	Issuer	Class	% Portfolio	Value ↓	Shares
1	BUNGE GLOBAL SA	COM SHS	7.39%	$14M	170.2K
2	AVO MISSION PRODUCE INC history →	COM	6.70%	$12M	1.06M
3	ADM ARCHER DANIELS MIDLAND CO history →	COM	5.61%	$10M	196.7K
4	MEOH METHANEX CORP history →	COM	5.23%	$10M	292.1K
5	ORION S.A.	COM	4.70%	$9M	828.8K
6	DAR DARLING INGREDIENTS INC history →	COM	3.96%	$7M	193.3K
7	PPG PPG INDS INC history →	COM	3.86%	$7M	62.8K
8	ANDE ANDERSONS INC history →	COM	3.78%	$7M	190.2K
9	EMN EASTMAN CHEM CO history →	COM	3.68%	$7M	91.1K
10	AVNT AVIENT CORPORATION history →	COM	3.13%	$6M	179.2K
11	DWDPEUR DUPONT DE NEMOURS INC history →	COM	2.06%	$4M	55.5K
12	CTVA CORTEVA INC history →	COM	1.61%	$3M	40.0K
13	PPC PILGRIMS PRIDE CORP history →	COM	1.58%	$3M	65.0K
14	SFD SMITHFIELD FOODS INC history →	COM	1.46%	$3M	114.8K
15	APD AIR PRODS & CHEMS INC history →	COM	1.30%	$2M	8.5K
16	HRL HORMEL FOODS CORP history →	COM	1.23%	$2M	75.0K
17	ECL ECOLAB INC history →	COM	1.10%	$2M	7.5K
18	STKL SUNOPTA INC history →	COM	1.02%	$2M	325.0K
19	ADECOAGRO S A	COM	0.98%	$2M	198.3K
20	PAHUSD ELEMENT SOLUTIONS INC	COM	0.98%	$2M	80.0K
21	REX REX AMERICAN RES CORP	COM	0.94%	$2M	35.6K
22	MP MP MATERIALS CORP	COM CL A	0.72%	$1M	40.0K
23	JBS N.V.	CL A SHS	0.59%	$1M	75.0K
24	FMC FMC CORP	COM NEW	0.56%	$1M	25.0K
25	CF CF INDS HLDGS INC	COM	0.50%	$920,000	10.0K
26	TRONOX HOLDINGS PLC	SHS	0.49%	$912,600	180.0K
27	HUN HUNTSMAN CORP	COM	0.48%	$885,700	85.0K
28	OLN OLIN CORP	COM PAR $1	0.43%	$803,600	40.0K
29	INGR INGREDION INC	COM	0.37%	$678,100	5.0K
30	NTR NUTRIEN LTD	COM	0.31%	$582,400	10.0K
31	AXALTA COATING SYS LTD	COM	0.28%	$519,575	17.5K
32	IFF INTERNATIONAL FLAVORS&FRAGRA	COM	0.26%	$486,460	6.6K
33	CE CELANESE CORP DEL	COM	0.22%	$414,975	7.5K
34	CNH INDL N V	SHS	0.04%	$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 ↗.