AC
Annandale Capital, LLC SEC 13F Filing (Q2 2026) — Holdings & Portfolio
Annandale Capital, LLCCIK: 0001811739
Diversified strategyMomentum followerQuality / disciplined sizing
Total reported value
$732.8M
Reporting period: 2026-06-30 · Number of holdings: 128
Annandale Capital, LLC disclosed 128 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $732.8M and a quarterly turnover rate of 20.3%.
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Personality snowflake
- Concentration
- 12.88
- Portfolio Stability
- 20.26
- Momentum
- 100
- Sector conviction
- 47.69
- Diversification
- 100
- Sizing Uniformity
- 82.54
Annandale Capital, LLC's disclosed holdings carry a Herfindahl concentration index of 0.032 — mathematically equivalent to about 31 equally-sized positions, well below its 128 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 1.75), 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 33% 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.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govTrim SPY
-43.8% -$39.3M
Add DCOR
+15.4% $9.8M
Add MSFT
+34.9% $6.2M
Add AAPL
+68.2% $5.6M
Add QUAL
+5.5% $5.8M
Add DFAI
+9.9% $5.8M
Holdings Map
New buyAddUnchangedTrim
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Data Source Notice: AlphaSMO is the web's most authoritative 13F / Inside Trader database. Institutional holdings and insider trades presented here are precisely computed to deliver accurate portfolio reporting.
Top 10 holdings by weight
Full holdings list this quarter
Showing top 125 holdings (of 128 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 | 8.39% | -5.83% | -43.79% | |
| 2 | BSV | Vanguard Short-term Bond ETF | ETF-Other | 5.92% | -0.14% | +1.69% | |
| 3 | DFAI | Dimensional International Co | ETF-Other | 5.67% | +0.63% | +9.88% | |
| 4 | DCOR | Dimensional US Core Eq 1 ETF | ETF-Other | 5.64% | +1.20% | +15.43% | |
| 5 | DFCF | Dimensional Core Fixed Inc | ETF-Other | 5.09% | -0.10% | +1.48% | |
| 6 | QUAL | Ishares Msci USA Quality Fac | ETF-Other | 4.66% | +0.67% | +5.47% | |
| 7 | DFAE | Dimensional Emerging Core Eq | ETF-Emerging Markets | 3.83% | +0.40% | -2.75% | |
| 8 | VYM | Vanguard High Dvd Yield ETF | ETF-Other | 3.56% | +0.13% | +0.61% | |
| 9 | MSFT | Microsoft CORP | Stock-Tech | 3.22% | +0.77% | +34.89% | |
| 10 | EEM | Ishares Msci Emerging Market | ETF-Emerging Markets | 3.15% | +0.24% | — | |
| 11 | GOVT | Ishares US Treasury Bond ETF | ETF-Gov Bonds | 2.72% | -0.10% | +0.21% | |
| 12 | META | Meta Platforms Inc-class A | Stock-Comm Services | 1.87% | -0.12% | -1.30% | |
| 13 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 1.85% | +0.02% | +0.02% | |
| 14 | IWM | Ishares Russell 2000 ETF | ETF-Small Cap | 1.83% | +0.02% | — | |
| 15 | MLPX | Global X Mlp & Energy Infras | ETF-Other | 1.73% | -0.11% | -2.49% | |
| 16 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 1.72% | +0.17% | +0.09% | |
| 17 | AVUS | Avantis U.s. Equity ETF | ETF-Other | 1.66% | +0.17% | — | |
| 18 | HD | Home Depot Inc | Stock-Consumer Disc | 1.66% | +0.07% | +0.38% | |
| 19 | AAPL | Apple Inc | Stock-Tech | 1.60% | +0.74% | +68.18% | |
| 20 | DFAX | Dimensional World Ex US Core | ETF-Other | 1.54% | +0.24% | +12.47% | |
| 21 | VGSH | Vanguard Short-term Treasury | ETF-Gov Bonds | 1.31% | -0.57% | -27.64% | |
| 22 | WMT | Walmart Inc | Stock-Consumer Staples | 1.26% | -0.17% | -0.07% | |
| 23 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 1.23% | +0.08% | -10.59% | |
| 24 | DFAT | Dimensional US Target Value | ETF-Other | 1.22% | +0.17% | +7.24% | |
| 25 | AVDE | Avantis International Equity | ETF-Other | 1.16% | +0.02% | — | |
| 26 | UBER | Uber Technologies Inc | Stock-Industrials | 1.06% | -0.04% | -0.01% | |
| 27 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 1.02% | +0.16% | -0.70% | |
| 28 | PGR | Progressive CORP | Stock-Financials | 0.98% | +0.06% | — | |
| 29 | ABBV | Abbvie Inc | Stock-Healthcare | 0.96% | +0.10% | — | |
| 30 | AON | Aon plc | Stock-Financials | 0.95% | -0.01% | +0.28% | |
| 31 | NVDA | Nvidia CORP | Stock-Tech | 0.95% | +0.63% | +171.07% | |
| 32 | DFUV | Dimensional US Marketwide Va | ETF-Other | 0.94% | +0.08% | +0.05% | |
| 33 | ET | Energy Transfer LP | Stock-Energy | 0.91% | -0.05% | -0.95% | |
| 34 | CSCO | Cisco Systems Inc | Stock-Tech | 0.89% | +0.28% | — | |
| 35 | ACGL | Arch Capital Group Ltd. | Stock-Financials | 0.82% | -0.02% | -0.32% | |
| 36 | NFLX | Netflix Inc | Stock-Comm Services | 0.81% | -0.31% | — | |
| 37 | FAF | First American Financial | Stock-Financials | 0.73% | -0.38% | -40.27% | |
| 38 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.73% | +0.01% | -0.14% | |
| 39 | KRE | Ss Spdr S&p Regional Bank | ETF-Other | 0.71% | +0.02% | -7.60% | |
| 40 | V | Visa Inc-class A Shares | Stock-Financials | 0.68% | +0.06% | +0.85% | |
| 41 | AVEM | Avantis Emerging Markets Eq | ETF-Emerging Markets | 0.68% | +0.03% | -9.70% | |
| 42 | ABT | Abbott Laboratories | Stock-Healthcare | 0.55% | +0.14% | +57.16% | |
| 43 | CPRT | Copart Inc | Stock-Industrials | 0.51% | -0.11% | +0.45% | |
| 44 | AKRE | Akre Focus ETF | ETF-Other | 0.46% | -0.08% | -12.04% | |
| 45 | SCHW | Schwab (charles) CORP | Stock-Financials | 0.45% | -0.03% | — | |
| 46 | FCNCA | First Citizens Bcshs -cl A | Stock-Financials | 0.43% | +0.02% | — | |
| 47 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 0.41% | +0.41% | NEW | |
| 48 | BKNG | Booking Holdings Inc | Stock-Consumer Disc | 0.40% | +0.01% | +2400.00% | |
| 49 | TMO | Thermo Fisher Scientific Inc | Stock-Healthcare | 0.37% | +0.06% | +22.46% | |
| 50 | KDP | Keurig Dr Pepper Inc | Stock-Consumer Staples | 0.37% | -0.06% | -29.50% |
1–50 of 125
Portfolio Performance
Performance for Q3 2026
+3.3%
Performance Last 4 Quarters
+17.3%
- Stdev
- +10.9%
- Beta
- +0.73
- Alpha
- +1.5%
- Max Drawdown
- -5.4%
- Annualized Perf
- +16.7%
- Batting Avg vs S&P
- +52.8%
- Sortino
- +2.78
- Stutzer
- +0.42
- Treynor
- +0.22
- Sterling
- +1.18
- Calmar
- +3.08
- Information Ratio
- -0.61
- Tracking Error
- +6.4%
- Stdev Down
- +5.8%
- Winning Months %
- +69.4%
- Losing Months %
- +30.6%
- Best 12 Months
- +30.7%
- Worst 12 Months
- +10.5%
- Efficiency Ratio
- +0.59
- Sharpe
- +1.48
- Stdev Sectors
- +6.5%
- Skewness
- -0.37
- Kurtosis
- +0.17
- Upside Potential
- +4.25
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 128 | $732.8M | 20 | ||
| 2026 Q1 | 121 | $708.8M | 30 | ||
| 2025 Q4 | 127 | $843.1M | 100 | ||
| 2025 Q3 | 124 | $588.2M | 100 | ||
| 2025 Q2 | 124 | $1.3B | 0 | ||
| 2025 Q1 | 127 | $1.6B | 100 | ||
| 2024 Q4 | 128 | $630.9M | 0 | ||
| 2024 Q3 | 128 | $713.8M | 0 | ||
| 2024 Q2 | 121 | $584.8M | 0 | ||
| 2024 Q1 | 135 | $543.3M | 0 | ||
| 2023 Q4 | 138 | $530.5M | 0 | ||
| 2023 Q3 | 137 | $401.5M | 0 | ||
| 2023 Q2 | 138 | $346.0M | 0 | ||
| 2023 Q1 | 135 | $316.6M | 0 | ||
| 2022 Q4 | 136 | $304.0M | 0 | ||
| 2022 Q3 | 134 | $271.1M | 0 | ||
| 2022 Q2 | 127 | $252.6M | 0 | ||
| 2022 Q1 | 112 | $253.1M | 0 | ||
| 2021 Q4 | 112 | $227.0M | 0 | ||
| 2021 Q3 | 85 | $166.1M | 0 | ||
| 2021 Q2 | 84 | $166.1M | 23 | ||
| 2021 Q1 | 70 | $141.0M | 32 | ||
| 2020 Q4 | 58 | $119.6M | 0 |
Holding changes this quarter
Annandale Capital, LLC's most significant position changes for 2026-06-30: New buy: Taiwan Semiconductor-sp Adr (TSM); Sold out: Texas Instruments Inc (TXN); New buy: Warner Bros Discovery Inc (WBD); New buy: Medtronic plc (MDT); New buy: Novo-nordisk A/s-spons Adr (NVO).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | DCOR | Dimensional US Core Eq 1 ETF | +1.2% | +15.43% | Add |
| 2 | MSFT | Microsoft CORP | +0.8% | +34.89% | Add |
| 3 | AAPL | Apple Inc | +0.7% | +68.18% | Add |
| 4 | QUAL | Ishares Msci USA Quality Fac | +0.7% | +5.47% | Add |
| 5 | DFAI | Dimensional International Co | +0.6% | +9.88% | Add |
| 6 | NVDA | Nvidia CORP | +0.6% | +171.07% | Add |
| 7 | TSM | Taiwan Semiconductor-sp Adr | +0.4% | NEW | New buy |
| 8 | DFAE | Dimensional Emerging Core Eq | +0.4% | -2.75% | Trim |
| 9 | CSCO | Cisco Systems Inc | +0.3% | — | Unchanged |
| 10 | EEM | Ishares Msci Emerging Market | +0.2% | — | Unchanged |
| 11 | DFAX | Dimensional World Ex US Core | +0.2% | +12.47% | Add |
| 12 | WBD | Warner Bros Discovery Inc | +0.2% | NEW | New buy |
| 13 | MDT | Medtronic plc | +0.2% | NEW | New buy |
| 14 | AVUS | Avantis U.s. Equity ETF | +0.2% | — | Unchanged |
| 15 | AMZN | Amazon.com Inc | +0.2% | +0.09% | Add |
| 16 | DFAT | Dimensional US Target Value | +0.2% | +7.24% | Add |
| 17 | GOOG | Alphabet Inc-cl C | +0.2% | -0.70% | Trim |
| 18 | NVO | Novo-nordisk A/s-spons Adr | +0.2% | NEW | New buy |
| 19 | ABT | Abbott Laboratories | +0.1% | +57.16% | Add |
| 20 | IQV | Iqvia Holdings Inc | +0.1% | NEW | New buy |
| 21 | VYM | Vanguard High Dvd Yield ETF | +0.1% | +0.61% | Add |
| 22 | BDX | Becton Dickinson And Co | +0.1% | +70.51% | Add |
| 23 | MRK | Merck & Co. Inc. | +0.1% | +133.54% | Add |
| 24 | ABBV | Abbvie Inc | +0.1% | — | Unchanged |
| 25 | BRK-A | Berkshire Hathaway Inc-cl A | +0.1% | NEW | New buy |
| 26 | CLSK | Cleanspark Inc | +0.1% | NEW | New buy |
| 27 | GOOGL | Alphabet Inc-cl A | +0.1% | -10.59% | Trim |
| 28 | DFUV | Dimensional US Marketwide Va | +0.1% | +0.05% | Add |
| 29 | URGN | UroGen Pharma Ltd. | +0.1% | -22.42% | Trim |
| 30 | HD | Home Depot Inc | +0.1% | +0.38% | Add |
| 31 | BRO | Brown & Brown Inc | +0.1% | NEW | New buy |
| 32 | PGR | Progressive CORP | +0.1% | — | Unchanged |
| 33 | V | Visa Inc-class A Shares | +0.1% | +0.85% | Add |
| 34 | TMO | Thermo Fisher Scientific Inc | +0.1% | +22.46% | Add |
| 35 | FIX | Comfort Systems USA Inc | +0.1% | NEW | New buy |
| 36 | MSTR | Strategy Inc | +0.1% | NEW | New buy |
| 37 | TSLA | Tesla Inc | +0.1% | +119.08% | Add |
| 38 | USFD | US Foods Holding CORP | 0% | NEW | New buy |
| 39 | AOS | Smith (a.o.) CORP | 0% | NEW | New buy |
| 40 | AVEM | Avantis Emerging Markets Eq | 0% | -9.70% | Trim |
| 41 | VTI | Vanguard Total Stock Mkt ETF | 0% | NEW | New buy |
| 42 | DELL | Dell Technologies -c | 0% | -31.42% | Trim |
| 43 | IWF | Ishares Russell 1000 Growth | 0% | NEW | New buy |
| 44 | VO | Vanguard Mid-cap ETF | 0% | NEW | New buy |
| 45 | VOO | Vanguard S&p 500 ETF | 0% | NEW | New buy |
| 46 | IJR | Ishares Core S&p Small-cap E | 0% | NEW | New buy |
| 47 | IWM | Ishares Russell 2000 ETF | 0% | — | Unchanged |
| 48 | BRK-B | Berkshire Hathaway Inc-cl B | 0% | +0.02% | Add |
| 49 | AVDE | Avantis International Equity | 0% | — | Unchanged |
| 50 | KRE | Ss Spdr S&p Regional Bank | 0% | -7.60% | Trim |
1–50 of 136
Filing History
FAQ
What is Annandale Capital, LLC and what type of investor is it?
Annandale Capital, LLC is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $732.8M, spread across 128 disclosed positions.
What are Annandale Capital, LLC's largest equity positions?
Based on the latest 13F filing, Annandale Capital, LLC's top holdings by market value are:
1. Ss Spdr S&p 500 ETF Trust-us (SPY) — $61.5M (8.4%)
2. Vanguard Short-term Bond ETF (BSV) — $43.4M (5.9%)
3. Dimensional International Co (DFAI) — $41.6M (5.7%)
4. Dimensional US Core Eq 1 ETF (DCOR) — $41.3M (5.6%)
5. Dimensional Core Fixed Inc (DFCF) — $37.3M (5.1%)
What changes did Annandale Capital, LLC make in its most recent portfolio filing?
In the latest reported quarter, Annandale Capital, LLC made 90 notable position adjustments: 18 new positions were initiated, 32 existing holdings were added to, 29 positions were partially reduced, and 11 were completely exited. The largest of these moves: New buy: Taiwan Semiconductor-sp Adr (TSM); Sold out: Texas Instruments Inc (TXN); New buy: Warner Bros Discovery Inc (WBD); New buy: Medtronic plc (MDT); New buy: Novo-nordisk A/s-spons Adr (NVO)
What sectors does Annandale Capital, LLC focus on?
Annandale Capital, LLC is concentrated in the following sectors based on its current disclosed equity portfolio:
• Financials: 22.3%
• Information Technology: 21.9%
• Communication Services: 15.5%
• Health Care: 11.9%
• Consumer Discretionary: 11.6%
• Industrials: 7.3%
Investment Profile
Annandale Capital, LLC returned an annualized 16.7% over the trailing 36 months — outperforming the S&P 500 by 1.5 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.73 (less volatile than the market) and a 53% quarterly batting average against the index.
Its portfolio is broadly diversified and moderately active.
Its concentration score has fallen from 100 to 13 over the past 4 quarters — a shift toward broader diversification.
It has added to its QUAL position over the past two quarters (+$11.5M, now $34.2M), while trimming MLPX over the same stretch (-$5.0M, still holding $12.6M).
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Developer Access
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