Walnut Level Capital LLC Hedge Fund

CIK: 0001803088 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 17, 2026

Total Value ($000): $146,709 (100.0% shares, 0.0% debt)

Holdings (37)

New Positions (4)

SFD SMITHFIELD FOODS INC 5.8%

Value ($000) $8,506 Shares 380,915 Est. Cost $21.88 Unrealized 0.0%

USO UNITED STS OIL FD LP 2.4%

Value ($000) $3,458 Shares 50,000 Est. Cost — Unrealized —

JBS JBS N.V. 1.5%

Value ($000) $2,193 Shares 152,048 Est. Cost $13.74 Unrealized 0.0%

SW SMURFIT WESTROCK PLC 1.1%

Value ($000) $1,617 Shares 41,813 Est. Cost $38.13 Unrealized 0.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SFD	SMITHFIELD FOODS INC	380,915	$8,506	5.8%	$21.88	0.0%	COM	832248207
USO	UNITED STS OIL FD LP	50,000	$3,458	2.4%	—	—	PUT	91232N207
JBS	JBS N.V.	152,048	$2,193	1.5%	$13.74	0.0%	CL A SHS	N4732M103
SW	SMURFIT WESTROCK PLC	41,813	$1,617	1.1%	$38.13	0.0%	SHS	G8267P108

Increased Positions (6)

DAR DARLING INGREDIENTS INC 10.4%

Value ($000) $15,230 (+29.4%) Shares 423,056 (+10.9%) Est. Cost $34.53 Unrealized -2.0%

FUL FULLER H B CO 2.3%

Value ($000) $3,419 (+284.5%) Shares 57,505 (+283.4%) Est. Cost $58.79 Unrealized -0.5%

DAR DARLING INGREDIENTS INC 3.2%

Value ($000) $4,727 (+53.1%) Shares 131,300 (+31.3%) Est. Cost $34.53 Unrealized -2.0%

BG BUNGE GLOBAL SA 9.8%

Value ($000) $14,312 (+11.1%) Shares 160,661 (+1.3%) Est. Cost $78.90 Unrealized +16.4%

OLN OLIN CORP 1.1%

Value ($000) $1,625 (+62.6%) Shares 78,012 (+95.0%) Est. Cost $33.30 Unrealized -35.6%

MEOH METHANEX CORP 10.9%

Value ($000) $15,989 (+1.3%) Shares 402,532 (+1.4%) Est. Cost $42.40 Unrealized -12.3%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
DAR	DARLING INGREDIENTS INC	423,056 (+10.9%)	$15,230 (+29.4%)	10.4%	$34.53	-2.0%	COM	237266101
FUL	FULLER H B CO	57,505 (+283.4%)	$3,419 (+284.5%)	2.3%	$58.79	-0.5%	COM	359694106
DAR	DARLING INGREDIENTS INC	131,300 (+31.3%)	$4,727 (+53.1%)	3.2%	$34.53	-2.0%	PUT	237266101
BG	BUNGE GLOBAL SA	160,661 (+1.3%)	$14,312 (+11.1%)	9.8%	$78.90	+16.4%	COM SHS	H11356104
OLN	OLIN CORP	78,012 (+95.0%)	$1,625 (+62.6%)	1.1%	$33.30	-35.6%	COM PAR $1	680665205
MEOH	METHANEX CORP	402,532 (+1.4%)	$15,989 (+1.3%)	10.9%	$42.40	-12.3%	COM	59151K108

Exited Positions (4)

DAR DARLING INGREDIENTS INC 4.2%

Value ($000) $6,174 Shares 200,000 Est. Cost $34.53 Unrealized -2.0%

OEC ORION S.A. 3.1%

Value ($000) $4,518 Shares 596,031 Est. Cost $18.99 Unrealized -71.4%

HRL HORMEL FOODS CORP 1.8%

Value ($000) $2,598 Shares 105,000 Est. Cost $28.85 Unrealized -19.2%

AVO MISSION PRODUCE INC 1.6%

Value ($000) $2,404 Shares 200,000 Est. Cost $11.70 Unrealized +2.4%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
DAR	DARLING INGREDIENTS INC	200,000	$6,174	4.2%	$34.53	-2.0%	CALL	237266101
OEC	ORION S.A.	596,031	$4,518	3.1%	$18.99	-71.4%	—	L72967109
HRL	HORMEL FOODS CORP	105,000	$2,598	1.8%	$28.85	-19.2%	—	440452100
AVO	MISSION PRODUCE INC	200,000	$2,404	1.6%	$11.70	+2.4%	CALL	60510V108

Decreased Positions (9)

PPG PPG INDS INC 1.1%

Value ($000) $1,548 (-81.1%) Shares 15,107 (-80.6%) Est. Cost $117.21 Unrealized -14.6%

ANDE ANDERSONS INC 12.6%

Value ($000) $18,552 (-18.9%) Shares 348,913 (-39.3%) Est. Cost $37.50 Unrealized +30.0%

AVO MISSION PRODUCE INC 6.2%

Value ($000) $9,168 (-29.1%) Shares 790,381 (-26.5%) Est. Cost $11.70 Unrealized +2.4%

WLK WESTLAKE CORPORATION 0.6%

Value ($000) $843 (-81.0%) Shares 11,404 (-80.2%) Est. Cost $82.33 Unrealized -14.0%

ESI ELEMENT SOLUTIONS INC 0.2%

Value ($000) $326 (-91.0%) Shares 13,036 (-90.9%) Est. Cost $22.56 Unrealized +14.9%

AVNT AVIENT CORPORATION 4.6%

Value ($000) $6,678 (-32.4%) Shares 213,749 (-28.7%) Est. Cost $39.12 Unrealized -21.5%

EMN EASTMAN CHEM CO 2.3%

Value ($000) $3,371 (-33.0%) Shares 52,807 (-33.8%) Est. Cost $83.27 Unrealized -26.8%

OEC ORION S.A. 0.5%

Value ($000) $722 (-68.3%) Shares 136,700 (-54.4%) Est. Cost $18.99 Unrealized -71.4%

ANDE ANDERSONS INC 2.4%

Value ($000) $3,562 (-10.5%) Shares 67,000 (-33.0%) Est. Cost $37.50 Unrealized +30.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
PPG	PPG INDS INC	15,107 (-80.6%)	$1,548 (-81.1%)	1.1%	$117.21	-14.6%	COM	693506107
ANDE	ANDERSONS INC	348,913 (-39.3%)	$18,552 (-18.9%)	12.6%	$37.50	+30.0%	COM	034164103
AVO	MISSION PRODUCE INC	790,381 (-26.5%)	$9,168 (-29.1%)	6.2%	$11.70	+2.4%	COM	60510V108
WLK	WESTLAKE CORPORATION	11,404 (-80.2%)	$843 (-81.0%)	0.6%	$82.33	-14.0%	COM	960413102
ESI	ELEMENT SOLUTIONS INC	13,036 (-90.9%)	$326 (-91.0%)	0.2%	$22.56	+14.9%	COM	28618M106
AVNT	AVIENT CORPORATION	213,749 (-28.7%)	$6,678 (-32.4%)	4.6%	$39.12	-21.5%	COM	05368V106
EMN	EASTMAN CHEM CO	52,807 (-33.8%)	$3,371 (-33.0%)	2.3%	$83.27	-26.8%	COM	277432100
OEC	ORION S.A.	136,700 (-54.4%)	$722 (-68.3%)	0.5%	$18.99	-71.4%	CALL	L72967109
ANDE	ANDERSONS INC	67,000 (-33.0%)	$3,562 (-10.5%)	2.4%	$37.50	+30.0%	CALL	034164103

Unchanged Positions (18)

DD DUPONT DE NEMOURS INC 0.8%

Value ($000) $1,206 Shares 30,000 Est. Cost $31.41 Unrealized +19.0%

BG BUNGE GLOBAL SA 6.1%

Value ($000) $8,908 Shares 100,000 Est. Cost $78.90 Unrealized +16.4%

STKL SUNOPTA INC 0.8%

Value ($000) $1,235 Shares 325,000 Est. Cost $4.38 Unrealized +3.7%

MP MP MATERIALS CORP 1.4%

Value ($000) $2,021 Shares 40,000 Est. Cost $16.09 Unrealized +294.0%

APD AIR PRODS & CHEMS INC 1.4%

Value ($000) $2,098 Shares 8,495 Est. Cost $253.30 Unrealized -0.7%

CF CF INDS HLDGS INC 0.5%

Value ($000) $773 Shares 10,000 Est. Cost $84.24 Unrealized -2.7%

REX REX AMERICAN RES CORP 1.6%

Value ($000) $2,300 Shares 71,172 Est. Cost $25.09 Unrealized +29.8%

PPC PILGRIMS PRIDE CORP 1.7%

Value ($000) $2,534 Shares 65,000 Est. Cost $28.73 Unrealized +33.8%

HUN HUNTSMAN CORP 0.6%

Value ($000) $850 Shares 85,000 Est. Cost $22.18 Unrealized -58.7%

ECL ECOLAB INC 1.3%

Value ($000) $1,975 Shares 7,523 Est. Cost $245.53 Unrealized +8.2%

AXTA AXALTA COATING SYS LTD 0.4%

Value ($000) $565 Shares 17,500 Est. Cost $29.95 Unrealized -2.1%

INGR INGREDION INC 0.4%

Value ($000) $551 Shares 5,000 Est. Cost $140.75 Unrealized -19.9%

IFF INTERNATIONAL FLAVORS&FRAGRA 0.3%

Value ($000) $446 Shares 6,614 Est. Cost $91.45 Unrealized -29.6%

TROX TRONOX HOLDINGS PLC 0.5%

Value ($000) $751 Shares 180,000 Est. Cost $12.88 Unrealized -70.4%

CTVA CORTEVA INC 1.8%

Value ($000) $2,681 Shares 40,000 Est. Cost $46.55 Unrealized +38.7%

AGRO ADECOAGRO S A 1.1%

Value ($000) $1,573 Shares 198,317 Est. Cost $10.16 Unrealized -22.7%

CE CELANESE CORP DEL 0.2%

Value ($000) $317 Shares 7,500 Est. Cost $129.81 Unrealized -68.6%

CNH CNH INDL N V 0.1%

Value ($000) $80 Shares 80,000 Est. Cost $10.52 Unrealized -5.1%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
DD	DUPONT DE NEMOURS INC	30,000	$1,206	0.8%	$31.41	+19.0%	COM	26614N102
BG	BUNGE GLOBAL SA	100,000	$8,908	6.1%	$78.90	+16.4%	PUT	H11356104
STKL	SUNOPTA INC	325,000	$1,235	0.8%	$4.38	+3.7%	COM	8676EP108
MP	MP MATERIALS CORP	40,000	$2,021	1.4%	$16.09	+294.0%	COM CL A	553368101
APD	AIR PRODS & CHEMS INC	8,495	$2,098	1.4%	$253.30	-0.7%	COM	009158106
CF	CF INDS HLDGS INC	10,000	$773	0.5%	$84.24	-2.7%	COM	125269100
REX	REX AMERICAN RES CORP	71,172	$2,300	1.6%	$25.09	+29.8%	COM	761624105
PPC	PILGRIMS PRIDE CORP	65,000	$2,534	1.7%	$28.73	+33.8%	COM	72147K108
HUN	HUNTSMAN CORP	85,000	$850	0.6%	$22.18	-58.7%	COM	447011107
ECL	ECOLAB INC	7,523	$1,975	1.3%	$245.53	+8.2%	COM	278865100
AXTA	AXALTA COATING SYS LTD	17,500	$565	0.4%	$29.95	-2.1%	COM	G0750C108
INGR	INGREDION INC	5,000	$551	0.4%	$140.75	-19.9%	COM	457187102
IFF	INTERNATIONAL FLAVORS&FRAGRA	6,614	$446	0.3%	$91.45	-29.6%	COM	459506101
TROX	TRONOX HOLDINGS PLC	180,000	$751	0.5%	$12.88	-70.4%	SHS	G9087Q102
CTVA	CORTEVA INC	40,000	$2,681	1.8%	$46.55	+38.7%	COM	22052L104
AGRO	ADECOAGRO S A	198,317	$1,573	1.1%	$10.16	-22.7%	COM	L00849106
CE	CELANESE CORP DEL	7,500	$317	0.2%	$129.81	-68.6%	COM	150870103
CNH	CNH INDL N V	80,000	$80	0.1%	$10.52	-5.1%	SHS	N20944109