Appian Way Asset Management LP
Appian Way Asset Management LP is a New York-based hedge fund investment adviser founded in August 2019, primarily owned and managed by Andrew C. Byington. The firm manages assets for pooled investment vehicles, with a focus on alternative investment strategies. As of March 2025, Appian Way oversees approximately $795 million in assets and employs 9 professionals, the majority of whom are dedicated investment staff. The firm serves institutional and qualified clients, leveraging deep sector expertise and a fundamental research-driven approach.
Investment Strategy
Appian Way Asset Management LP pursues a discretionary, research-intensive investment strategy, focusing on alternative assets and public equities. The firm primarily serves pooled investment vehicles and seeks to create value through detailed fundamental analysis and active portfolio management. Their portfolio reflects concentrated positions in select companies across sectors such as energy, infrastructure, and specialty materials. The approach is opportunistic, aiming to identify mispriced assets and deliver attractive risk-adjusted returns to clients, with flexibility to invest globally.
Top Holdings
Equity Positions (22)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
P PCT | PURECYCLE TECHNOLOGIES INC | 11.69% | $52.8M | 3,855,979 | $6.06 | $13.70 | +$2.0M |
G GLNG | GOLAR LNG LTD | 11.05% | $49.9M | 1,212,207 | $40.20 | $41.19 | -$8.0M |
F FTAI | FTAI AVIATION LTD | 10.56% | $47.7M | 415,049 | $115.73 | $115.04 | -$2.3M |
C CC | CHEMOURS CO | 9.66% | $43.7M | 3,813,341 | $16.45 | $11.45 | +$10.2M |
A AMCR | AMCOR PLC | 7.69% | $34.7M | 3,780,583 | $9.24 | $9.19 | +$25.7M |
Options Positions (5)
| Ticker | Security | Action | Type | Notional Value | Contracts | Underlying Price | Premium Paid | Change (Contracts) | Change (Value) |
|---|---|---|---|---|---|---|---|---|---|
D DAR | DARLING INGREDIENTS INC | New | Call | $27.7M | 7,300 | $37.94 | $37.94 | +7,300 | +$27.7M |
C CF | CF INDS HLDGS INC | New | Call | $8.3M | 900 | $92.00 | $92.00 | +900 | +$8.3M |
M MOS | MOSAIC CO NEW | New | Call | $8.2M | 2,250 | $36.48 | $36.48 | +2,250 | +$8.2M |
P PCT | PURECYCLE TECHNOLOGIES INC | Sold | Call | $5.5M | 4,000 | $13.70 | $6.92 | -8,000 | -$2.8M |
C CC | CHEMOURS CO | — | Call | $4.0M | 3,500 | $11.45 | $16.90 | 0 | -$728.0K |