CIK: 0001811739
Total reported value
$708.8M
Reporting period: 2026-03-31 · Number of holdings: 121
Annandale Capital, LLC disclosed 121 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $708.8M and a quarterly turnover rate of 29.9%.
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Annandale Capital, LLC's disclosed holdings carry a Herfindahl concentration index of 0.042 — mathematically equivalent to about 24 equally-sized positions, well below its 121 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 2.00), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 32% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Add SPY
+5.1% $4.4M
Trim GOOGL
-51.9% -$12.8M
Add QUAL
+29.2% $5.6M
Add BSV
+1.7% $493.0K
Add DFCF
+3.6% $984.0K
Add DFAI
-3.8% -$615.0K
Showing top 118 holdings (of 121 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 14.22% | +2.78% | +5.13% | |
| 2 | BSV | Vanguard Short-term Bond ETF | ETF-Other | 6.06% | +1.03% | +1.68% | |
| 3 | DFCF | Dimensional Core Fixed INC | ETF-Other | 5.19% | +0.94% | +3.57% | |
| 4 | DFAI | Dimensional International Co | ETF-Other | 5.04% | +0.73% | -3.84% | |
| 5 | DCOR | Dimensional US Core Eq 1 ETF | ETF-Other | 4.44% | +0.57% | -1.59% | |
| 6 | QUAL | Ishares Msci USA Quality Fac | ETF-Other | 3.99% | +1.30% | +29.17% | |
| 7 | VYM | Vanguard High Dvd Yield ETF | ETF-Other | 3.43% | — | -2.69% | |
| 8 | DFAE | Dimensional Emerging Core Eq | ETF-Emerging Markets | 3.43% | — | -4.61% | |
| 9 | EEM | Ishares Msci Emerging Market | ETF-Emerging Markets | 2.91% | +0.51% | — | |
| 10 | GOVT | Ishares US Treasury Bond ETF | ETF-Gov Bonds | 2.82% | +0.51% | +3.37% | |
| 11 | MSFT | Microsoft CORP | Stock-Tech | 2.45% | +0.66% | +50.12% | |
| 12 | META | Meta Platforms Inc-class A | Stock-Comm Services | 1.99% | +0.06% | +0.17% | |
| 13 | VGSH | Vanguard Short-term Treasury | ETF-Gov Bonds | 1.88% | +1.88% | NEW | |
| 14 | MLPX | Global X Mlp & Energy Infras | ETF-Other | 1.84% | -0.26% | -39.77% | |
| 15 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 1.83% | +0.22% | — | |
| 16 | IWM | Ishares Russell 2000 ETF | ETF-Small Cap | 1.81% | — | — | |
| 17 | HD | Home Depot INC | Stock-Consumer Disc | 1.59% | +0.47% | +24.66% | |
| 18 | AMZN | Amazon.com INC | Stock-Consumer Disc | 1.55% | +0.11% | +0.15% | |
| 19 | AVUS | Avantis U.s. Equity ETF | ETF-Other | 1.49% | — | — | |
| 20 | WMT | Walmart INC | Stock-Consumer Staples | 1.43% | +0.30% | -4.45% | |
| 21 | DFAX | Dimensional World Ex US Core | ETF-Other | 1.30% | +0.48% | +29.31% | |
| 22 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 1.15% | -1.33% | -51.86% | |
| 23 | AVDE | Avantis International Equity | ETF-Other | 1.14% | +0.13% | -8.15% | |
| 24 | NFLX | Netflix INC | Stock-Comm Services | 1.12% | — | +0.06% | |
| 25 | FAF | First American Financial | Stock-Financials | 1.11% | — | +6.54% | |
| 26 | UBER | Uber Technologies INC | Stock-Industrials | 1.10% | -0.36% | -31.61% | |
| 27 | DFAT | Dimensional US Target Value | ETF-Other | 1.05% | — | -1.15% | |
| 28 | ET | Energy Transfer LP | Stock-Energy | 0.96% | -0.29% | -44.91% | |
| 29 | AON | Aon plc | Stock-Financials | 0.96% | +0.43% | +66.67% | |
| 30 | PGR | Progressive CORP | Stock-Financials | 0.92% | +0.03% | — | |
| 31 | AAPL | Apple INC | Stock-Tech | 0.86% | — | +2.13% | |
| 32 | ABBV | Abbvie INC | Stock-Healthcare | 0.86% | — | +0.04% | |
| 33 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 0.86% | — | +10.44% | |
| 34 | DFUV | Dimensional US Marketwide Va | ETF-Other | 0.86% | — | -0.80% | |
| 35 | ACGL | Arch Capital Group Ltd. | Stock-Financials | 0.84% | — | +4.06% | |
| 36 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.72% | +0.18% | -5.07% | |
| 37 | KRE | Ss Spdr S&p Regional Bank | ETF-Other | 0.69% | -0.08% | -25.00% | |
| 38 | AVEM | Avantis Emerging Markets Eq | ETF-Emerging Markets | 0.65% | — | -11.75% | |
| 39 | CPRT | Copart INC | Stock-Industrials | 0.62% | +0.04% | +6.03% | |
| 40 | V | Visa Inc-class A Shares | Stock-Financials | 0.62% | — | +14.59% | |
| 41 | CSCO | Cisco Systems INC | Stock-Tech | 0.61% | — | -6.96% | |
| 42 | WRB | Wr Berkley CORP | Stock-Financials | 0.55% | -0.08% | -21.73% | |
| 43 | AKRE | Akre Focus ETF | ETF-Other | 0.54% | -0.23% | -27.04% | |
| 44 | MRSH | Marsh & Mclennan Cos | Stock-Financials | 0.51% | -0.04% | — | |
| 45 | SCHW | Schwab (charles) CORP | Stock-Financials | 0.48% | — | — | |
| 46 | NRP | Natural Resource Partners LP | Stock-Other | 0.45% | +0.13% | — | |
| 47 | KDP | Keurig Dr Pepper INC | Stock-Consumer Staples | 0.43% | -0.11% | -28.24% | |
| 48 | ABT | Abbott Laboratories | Stock-Healthcare | 0.41% | -0.01% | +0.49% | |
| 49 | FCNCA | First Citizens Bcshs -cl A | Stock-Financials | 0.41% | — | — | |
| 50 | BKNG | Booking Holdings INC | Stock-Consumer Disc | 0.39% | -0.13% | -19.48% |
Performance for Q3 2026
+2.3%
Performance Last 4 Quarters
+16.5%
Based on 72% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 121 | $708.8M | 30 | |
| 2025-12-31 | 127 | $843.1M | 100 | |
| 2025-09-30 | 124 | $588.2M | 100 | |
| 2025-06-30 | 124 | $1.3B | 0 | |
| 2025-03-31 | 127 | $1.6B | 100 | |
| 2024-12-31 | 128 | $630.9M | 0 | |
| 2024-09-30 | 128 | $713.8M | 0 | |
| 2024-06-30 | 121 | $584.8M | 0 | |
| 2024-03-31 | 135 | $543.3M | 0 | |
| 2023-12-31 | 138 | $530.5M | 0 | |
| 2023-09-30 | 137 | $401.5M | 0 | |
| 2023-06-30 | 138 | $346.0M | 0 | |
| 2023-03-31 | 135 | $316.6M | 0 | |
| 2022-12-31 | 136 | $304.0M | 0 | |
| 2022-09-30 | 134 | $271.1M | 0 | |
| 2022-06-30 | 127 | $252.6M | 0 | |
| 2022-03-31 | 112 | $253.1M | 0 | |
| 2021-12-31 | 112 | $227.0M | 0 | |
| 2021-09-30 | 85 | $166.1M | 0 | |
| 2021-06-30 | 84 | $166.1M | 23 | |
| 2021-03-31 | 70 | $141.0M | 32 | |
| 2020-12-31 | 58 | $119.6M | 0 |
Annandale Capital, LLC's most significant position changes for 2026-03-31: Sold out: Vanguard S&p 500 ETF (VOO); New buy: Vanguard Short-term Treasury (VGSH); Sold out: Occidental Petroleum CORP (OXY); Sold out: Msci INC (MSCI); New buy: S&p Global INC (SPGI).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | SPY | Ss Spdr S&p 500 ETF Trust-us | +2.8% | +5.13% | Add |
| 2 | QUAL | Ishares Msci USA Quality Fac | +1.3% | +29.17% | Add |
| 3 | BSV | Vanguard Short-term Bond ETF | +1% | +1.68% | Add |
| 4 | DFCF | Dimensional Core Fixed INC | +0.9% | +3.57% | Add |
| 5 | DFAI | Dimensional International Co | +0.7% | -3.84% | Trim |
| 6 | MSFT | Microsoft CORP | +0.7% | +50.12% | Add |
| 7 | DCOR | Dimensional US Core Eq 1 ETF | +0.6% | -1.59% | Trim |
| 8 | GOVT | Ishares US Treasury Bond ETF | +0.5% | +3.37% | Add |
| 9 | EEM | Ishares Msci Emerging Market | +0.5% | — | Unchanged |
| 10 | DFAX | Dimensional World Ex US Core | +0.5% | +29.31% | Add |
| 11 | HD | Home Depot INC | +0.5% | +24.66% | Add |
| 12 | AON | Aon plc | +0.4% | +66.67% | Add |
| 13 | WMT | Walmart INC | +0.3% | -4.45% | Trim |
| 14 | JPM | Jpmorgan Chase & Co | +0.3% | +664.33% | Add |
| 15 | NVDA | Nvidia CORP | +0.3% | +788.87% | Add |
| 16 | BRK-B | Berkshire Hathaway Inc-cl B | +0.2% | — | Unchanged |
| 17 | JNJ | Johnson & Johnson | +0.2% | -5.07% | Trim |
| 18 | AVDE | Avantis International Equity | +0.1% | -8.15% | Trim |
| 19 | NRP | Natural Resource Partners LP | +0.1% | — | Unchanged |
| 20 | AMZN | Amazon.com INC | +0.1% | +0.15% | Add |
| 21 | OKE | Oneok INC | +0.1% | +1.27% | Add |
| 22 | META | Meta Platforms Inc-class A | +0.1% | +0.17% | Add |
| 23 | CPRT | Copart INC | 0% | +6.03% | Add |
| 24 | PGR | Progressive CORP | 0% | — | Unchanged |
| 25 | ABT | Abbott Laboratories | 0% | +0.49% | Add |
| 26 | MRSH | Marsh & Mclennan Cos | 0% | — | Unchanged |
| 27 | KRE | Ss Spdr S&p Regional Bank | -0.1% | -25.00% | Trim |
| 28 | WRB | Wr Berkley CORP | -0.1% | -21.73% | Trim |
| 29 | TXN | Texas Instruments INC | -0.1% | -46.49% | Trim |
| 30 | KDP | Keurig Dr Pepper INC | -0.1% | -28.24% | Trim |
| 31 | BKNG | Booking Holdings INC | -0.1% | -19.48% | Trim |
| 32 | MKL | Markel Group INC | -0.1% | -37.14% | Trim |
| 33 | COP | Conocophillips | -0.2% | -87.11% | Trim |
| 34 | AR | Antero Resources CORP | -0.2% | -74.71% | Trim |
| 35 | AKRE | Akre Focus ETF | -0.2% | -27.04% | Trim |
| 36 | MLPX | Global X Mlp & Energy Infras | -0.3% | -39.77% | Trim |
| 37 | ET | Energy Transfer LP | -0.3% | -44.91% | Trim |
| 38 | UBER | Uber Technologies INC | -0.4% | -31.61% | Trim |
| 39 | EPD | Enterprise Products Partners | -0.6% | -96.37% | Trim |
| 40 | GOOGL | Alphabet Inc-cl A | -1.3% | -51.86% | Trim |
| 41 | VOO | Vanguard S&p 500 ETF | — | EXIT | Sold out |
| 42 | VGSH | Vanguard Short-term Treasury | — | NEW | New buy |
| 43 | OXY | Occidental Petroleum CORP | — | EXIT | Sold out |
| 44 | MSCI | Msci INC | — | EXIT | Sold out |
| 45 | SPGI | S&p Global INC | — | NEW | New buy |
| 46 | WFC | Wells Fargo & Co | — | EXIT | Sold out |
| 47 | KKR | Kkr & Co INC | — | NEW | New buy |
| 48 | APO | Apollo Global Management INC | — | NEW | New buy |
| 49 | QCOM | Qualcomm INC | — | EXIT | Sold out |
| 50 | ICLR | ICON Public Limited Company | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-15 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-12 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-13 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-13 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-13 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-13 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-12 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-15 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-15 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-14 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-15 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-14 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-15 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-15 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-14 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-15 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-12 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-11 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-15 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-08-17 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-05-14 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-10 | Amendment | View on EDGAR |
| 2020-12-31 | 2021-02-09 | 13F-HR | View on EDGAR |
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