Annandale Capital, LLC

In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 15, 2024), Annandale Capital, LLC reported 128 stock positions worth $442.3 million. Its top holding was Vanguard Short-Term Bond ETF (BSV) at 8.6% of the portfolio, followed by Dimensional Core Fixed (DFCF, 7.3%) and Meta Platforms Class A (META, 4.1%). Compared with Q4 2023, it opened 8 new positions, sold out of 9, added to 26 and reduced 36. The biggest buy was Dimensional US Core Eq 1 ETF (DCOR, shares +65%) and the biggest sale Antero Resources (AR, shares −95%).

Most Recent 13F
Q2 2026
Location
DALLAS, TX
CIK
0001811739
Portfolio Value
$442.3M (Q1 2024)
SEC Filing
0001811739-24-000003 ↗ filed May 15, 2024

Holdings Value

0$200.0M$400.0M$600.0M$800.0M Q1 2024: $442.3M $442.3M Q1 2024 Q2 2024: $480.4M Q2 2024 Q3 2024: $500.0M Q3 2024 Q4 2024: $505.0M Q4 2024 Q1 2025: $533.7M Q1 2025 Q2 2025: $542.2M Q2 2025 Q3 2025: $562.8M Q3 2025 Q4 2025: $614.2M Q4 2025 Q1 2026: $609.0M Q1 2026 Q2 2026: $675.0M Q2 2026

Holdings 128 stocks · $442.3M
BSV Vanguard Short-Term Bond ETF 8.56% 493,687 $37.9M Add +4.5%
DFCF Dimensional Core Fixed Inc. 7.34% 774,131 $32.5M Add +4.4%
META Meta Platforms Inc. Class A 4.10% 37,362 $18.1M Reduce -19.6%
VYM Vanguard High DVD Yield ETF 3.81% 139,295 $16.9M Add +3.4%
GOVT iShares US Treasury Bond ETF 3.59% 697,839 $15.9M Add +6.9%
DFAI Dimensional International Co. 3.56% 520,784 $15.7M Add +16.4%
ET Energy Transfer LP 3.29% 924,082 $14.5M Reduce -0.1%
MLPX Global X MLP & Energy Infras 3.22% 290,670 $14.2M Add +3.8%
DFAE Dimensional Emerging Core Eq 2.66% 476,514 $11.8M Add +14.9%
BRK.B Berkshire Hathaway Inc. Class B 2.53% 26,636 $11.2M No change
GOOGL Alphabet Inc. Class A 2.50% 73,390 $11.1M Reduce -0.3%
MSFT Microsoft Corp. 2.21% 23,242 $9.8M Add +0.0%
AMZN Amazon.com Inc. 2.13% 52,135 $9.4M Reduce -0.5%
DIS The Walt Disney Co. filed as DISNEY WALT CO 1.99% 71,969 $8.8M No change
SPY SS SPDR S&P 500 ETF Trust-US 1.87% 15,803 $8.3M Reduce -0.1%
NFLX Netflix Inc. 1.83% 13,346 $8.1M No change
KRE SS SPDR S&P Regional Bank 1.59% 140,000 $7.0M Reduce -37.8%
HD Home Depot Inc. 1.41% 16,249 $6.2M No change
FAF First American Financial 1.39% 100,755 $6.2M Add +0.2%
DCOR Dimensional US Core Eq 1 ETF 1.38% 104,385 $6.1M Add +65.3%
PGR Progressive Corp. 1.36% 29,171 $6.0M No change
AAP Advance Auto Parts Inc. 1.35% 69,965 $6.0M No change
EPD Enterprise Products Partners 1.30% 197,093 $5.8M Reduce -0.0%
AVUS Avantis U.S. Equity ETF 1.29% 63,705 $5.7M Add +62.6%
DFUV Dimensional US Marketwide Va 1.24% 134,311 $5.5M Reduce -6.3%
WMT Walmart Inc. 1.18% 86,997 $5.2M No change
WRB WR Berkley Corp. filed as BERKLEY W R CORP 1.10% 54,853 $4.9M No change
MKL Markel Group Inc. 1.07% 3,118 $4.7M No change
AVDE Avantis International Equity 1.06% 73,658 $4.7M Add +67.7%
ALLE Allegion PLC 1.04% 34,076 $4.6M No change
CSCO Cisco Systems Inc. 1.03% 90,981 $4.5M Reduce -0.4%
SCHW Schwab (charles) Corp. 0.98% 59,743 $4.3M No change
QUAL iShares MSCI USA Quality Fac 0.97% 26,137 $4.3M Reduce -2.2%
AAPL Apple Inc. 0.93% 23,935 $4.1M Reduce -0.1%
CPRT Copart Inc. 0.92% 70,324 $4.1M No change
BABA Alibaba Group Holding-SP ADR 0.90% 55,153 $4.0M Add +13.9%
GLD SPDR Gold Shares 0.90% 19,381 $4.0M No change
AZO AutoZone Inc. 0.88% 1,229 $3.9M Reduce -0.3%
JNJ Johnson & Johnson 0.76% 21,196 $3.4M No change
DFAT Dimensional US Target Value 0.72% 58,812 $3.2M Add +43.6%
QCOM Qualcomm Inc. 0.69% 18,036 $3.1M Reduce -0.2%
COP Conocophillips 0.68% 23,469 $3.0M Reduce -0.6%
EFX Equifax Inc. 0.63% 10,375 $2.8M No change
GOOG Alphabet Inc. Class C 0.63% 18,219 $2.8M Add +0.5%
AVEM Avantis Emerging Markets Eq 0.62% 47,023 $2.7M Add +71.9%
UNP Union Pacific Corp. 0.58% 10,472 $2.6M No change
ADBE Adobe Inc. 0.54% 4,776 $2.4M Reduce -0.7%
PARAA Paramount Global Class B 0.54% 203,818 $2.4M Add +575.8%
EFA iShares MSCI Eafe ETF 0.54% 29,676 $2.4M Reduce -7.2%
ICE Intercontinental Exchange Inc. 0.51% 16,519 $2.3M Reduce -0.6%
TXN Texas Instruments Inc. 0.51% 12,952 $2.3M No change
BUR Burford Capital Ltd. 0.51% 140,000 $2.2M No change
BKNG Booking Holdings Inc. 0.50% 612 $2.2M Reduce -0.8%
ACGL Arch Capital Group Ltd. 0.48% 22,786 $2.1M No change
EQC Equity Commonwealth 0.47% 6,755 $2.1M No change
BIDU Baidu Inc. - Spon ADR 0.47% 19,596 $2.1M New
VRSK Verisk Analytics Inc. 0.39% 7,325 $1.7M No change
MCHI iShares MSCI China ETF 0.38% 42,400 $1.7M No change
CDW CDW Corp. 0.37% 6,366 $1.6M No change
BIL SS SPDR BB 1-3M T-Bill ETF 0.36% 17,500 $1.6M No change
MBB iShares MBS ETF 0.36% 17,238 $1.6M No change
WSO Watsco Inc. 0.29% 3,006 $1.3M No change
CSW CSW Industrials Inc. 0.28% 5,332 $1.3M No change
URGN Urogen Pharma Ltd. 0.28% 81,552 $1.2M Reduce -0.3%
KEYS Keysight Technologies Inc. 0.27% 7,637 $1.2M No change
AR Antero Resources Corp. 0.26% 39,454 $1.1M Reduce -94.9%
WFC Wells Fargo & Co. 0.25% 18,908 $1.1M Add +0.0%
AMT American Tower Corp. 0.24% 5,400 $1.1M No change
KWY Kingsway Corp. 0.24% 125,000 $1.0M Add +151.3%
OXY Occidental Petroleum Corp. 0.23% 15,980 $1.0M Add +33.4%
EEM iShares MSCI Emerging Market 0.21% 22,750 $935K No change
EOG EOG Resources Inc. 0.21% 7,235 $925K No change
V Visa Inc. Class A 0.19% 3,084 $861K No change
BOC Boston Omaha Corp. Class A 0.18% 50,199 $776K No change
SHY iShares 1-3 Year Treasury Bo 0.17% 8,928 $730K No change
SHV iShares 0-1 Year Treasury Bo 0.16% 6,441 $712K Reduce -0.1%
ABBV Abbvie Inc. 0.15% 3,700 $674K No change
AGG iShares Core U.S. Aggregate 0.15% 6,841 $670K No change
MRK Merck & Co. Inc. 0.14% 4,718 $623K Reduce -2.4%
IVW iShares S&P 500 Growth ETF 0.13% 6,952 $587K No change
KMI Kinder Morgan Inc. 0.13% 31,117 $571K Reduce -81.2%
SBUX Starbucks Corp. 0.13% 6,075 $555K New
AMJ JPMorgan Alerian MLP Index 0.12% 18,800 $536K No change
ACWX iShares MSCI Acwi Ex US ETF 0.12% 4,754 $524K Reduce -1.1%
PFE Pfizer Inc. 0.12% 18,568 $515K Add +114.8%
VBTX Veritex Holdings Inc. 0.12% 25,000 $512K Add +24.6%
DD Dupont DE Nemours Inc. 0.10% 5,795 $444K Reduce -0.2%
IVV iShares Core S&P 500 ETF 0.10% 829 $436K New
XOM Exxon Mobil Corp. 0.10% 3,686 $428K Reduce -2.5%
NVDA Nvidia Corp. 0.09% 444 $401K No change
PAA Plains All Amer Pipeline LP 0.09% 22,288 $391K No change
DSGR Distribution Solutions Group 0.09% 11,000 $390K No change
AON Aon PLC Class A 0.08% 1,123 $375K No change
VTV Vanguard Mrngstr Val ETF-Aui 0.08% 2,281 $371K No change
DOW Dow Inc. 0.08% 5,795 $336K Reduce -0.7%
CTVA Corteva Inc. 0.08% 5,767 $333K No change
SU Suncor Energy Inc. 0.07% 8,525 $315K No change
ABT Abbott Laboratories 0.07% 2,703 $307K No change
DVN Devon Energy Corp. 0.07% 6,000 $301K New
DFAU Dimensional US Core Equity M 0.07% 8,154 $298K Add +1.1%
ERF Enerplus Corp. 0.07% 14,895 $293K No change
CMG Chipotle Mexican Grill Inc. 0.07% 100 $291K No change
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.06% 7,349 $279K Reduce -1.4%
VNOM Viper Energy Partners LP 0.06% 7,244 $279K No change
REEAF Ree Automotive Ltd. Class A 0.06% 46,666 $273K No change
WMB Williams Cos Inc. 0.06% 6,918 $270K No change
MESA AIR GROUP INC 0.06% 301,270 $265K Reduce -16.0%
MPLX MPLX LP 0.06% 6,077 $253K No change
DFAX Dimensional World Ex US Core 0.06% 9,874 $251K New
AIG American International Group 0.06% 3,151 $246K Reduce -32.3%
HTZ Hertz Global Hldgs Inc. 0.05% 30,000 $235K Add +50.0%
IWN iShares Russell 2000 Value E 0.05% 1,408 $224K No change
AVGO Broadcom Inc. 0.05% 167 $221K New
YUM Yum! Brands Inc. 0.05% 1,595 $221K No change
CVX Chevron Corp. 0.05% 1,392 $220K No change
BSM Black Stone Minerals LP 0.05% 13,635 $218K Add +8.0%
FOSL Fossil Group Inc. 0.05% 211,047 $215K Reduce -15.6%
JPM JPMorgan Chase & Co. 0.05% 1,075 $215K New
RF Regions Financial Corp. 0.05% 11,200 $212K No change
BA The Boeing Co. 0.05% 1,077 $208K Reduce -1.9%
CEE Central and Eastern Europe F 0.04% 20,928 $199K No change
LLFLQ LL Flooring Holdings Inc. 0.04% 105,446 $193K Reduce -29.7%
OESX Orion Energy Systems Inc. 0.04% 212,408 $185K Reduce -12.3%
KRP Kimbell Royalty Partners LP 0.04% 11,586 $180K Add +2.3%
CRK Comstock Resources Inc. 0.03% 16,574 $154K New
WWR Westwater Resources Inc. 0.03% 250,000 $123K Reduce -16.7%
RYAN Ryan Specialty Holdings Inc. 0.02% 15,000 $72K No change
APTOSE BIOSCIENCES INC 0.01% 26,666 $44K Reduce -64.3%

Options reported separately and not counted above: SPY puts ($69.1M), VYM puts ($10.5M), KRE puts ($9.4M), CPRT puts ($5.0M), DIS puts ($3.0M), PARAA calls ($2.7M), AAP puts ($1.2M).

Portfolio Sells Q4 2023 → Q1 2024
AR Antero Resources Corp. Reduce -94.9% 0.26% −3.84
MMM 3M Co. Sold out 0.00% −1.39
DG Dollar General Corp. Sold out 0.00% −1.16
KRE SS SPDR S&P Regional Bank Reduce -37.8% 1.59% −1.16
KMI Kinder Morgan Inc. Reduce -81.2% 0.13% −0.55
CRL Charles River Laboratories Sold out 0.00% −0.44
AM Antero Midstream Corp. Sold out 0.00% −0.29
AAPL Apple Inc. Reduce -0.1% 0.93% −0.15
DHR Danaher Corp. Sold out 0.00% −0.14
ADBE Adobe Inc. Reduce -0.7% 0.54% −0.12
LLFLQ LL Flooring Holdings Inc. Reduce -29.7% 0.04% −0.09
CSCO Cisco Systems Inc. Reduce -0.4% 1.03% −0.05
CUE Cue Biopharma Inc. Sold out 0.00% −0.04
FOSL Fossil Group Inc. Reduce -15.6% 0.05% −0.04
APTOSE BIOSCIENCES INC Reduce -64.3% 0.01% −0.03
XERS Xeris Biopharma Holdings Inc. Sold out 0.00% −0.03
CGEM Cullinan Therapeutics Inc. Sold out 0.00% −0.03
EFA iShares MSCI Eafe ETF Reduce -7.2% 0.54% −0.03
MESA AIR GROUP INC Reduce -16.0% 0.06% −0.02
BA The Boeing Co. Reduce -1.9% 0.05% −0.02
AIG American International Group Reduce -32.3% 0.06% −0.02
WWR Westwater Resources Inc. Reduce -16.7% 0.03% −0.01
URGN Urogen Pharma Ltd. Reduce -0.3% 0.28% −0.01
BKNG Booking Holdings Inc. Reduce -0.8% 0.50% −0.01
OESX Orion Energy Systems Inc. Reduce -12.3% 0.04% −0.01
ELEV Elevation Oncology Inc. Sold out 0.00% −0.01
SHV iShares 0-1 Year Treasury Bo Reduce -0.1% 0.16% −0.00
DD Dupont DE Nemours Inc. Reduce -0.2% 0.10% −0.00
DFUV Dimensional US Marketwide Va Reduce -6.3% 1.24% −0.00
DOW Dow Inc. Reduce -0.7% 0.08% +0.00
ACWX iShares MSCI Acwi Ex US ETF Reduce -1.1% 0.12% +0.00
BAC Bank of America Corp. Reduce -1.4% 0.06% +0.00
XOM Exxon Mobil Corp. Reduce -2.5% 0.10% +0.01
ICE Intercontinental Exchange Inc. Reduce -0.6% 0.51% +0.02
MRK Merck & Co. Inc. Reduce -2.4% 0.14% +0.02
COP Conocophillips Reduce -0.6% 0.68% +0.04
QUAL iShares MSCI USA Quality Fac Reduce -2.2% 0.97% +0.05
QCOM Qualcomm Inc. Reduce -0.2% 0.69% +0.08
EPD Enterprise Products Partners Reduce -0.0% 1.30% +0.09
GOOGL Alphabet Inc. Class A Reduce -0.3% 2.50% +0.11
SPY SS SPDR S&P 500 ETF Trust-US Reduce -0.1% 1.87% +0.12
AZO AutoZone Inc. Reduce -0.3% 0.88% +0.13
META Meta Platforms Inc. Class A Reduce -19.6% 4.10% +0.27
AMZN Amazon.com Inc. Reduce -0.5% 2.13% +0.27
ET Energy Transfer LP Reduce -0.1% 3.29% +0.31

Portfolio Buys Q4 2023 → Q1 2024
DCOR Dimensional US Core Eq 1 ETF Add +65.3% 1.38% +0.60
DFAI Dimensional International Co. Add +16.4% 3.56% +0.57
AVUS Avantis U.S. Equity ETF Add +62.6% 1.29% +0.54
BIDU Baidu Inc. - Spon ADR New 0.47% +0.47
AVDE Avantis International Equity Add +67.7% 1.06% +0.44
PARAA Paramount Global Class B Add +575.8% 0.54% +0.44
DFAE Dimensional Emerging Core Eq Add +14.9% 2.66% +0.33
MLPX Global X MLP & Energy Infras Add +3.8% 3.22% +0.31
VYM Vanguard High DVD Yield ETF Add +3.4% 3.81% +0.30
AVEM Avantis Emerging Markets Eq Add +71.9% 0.62% +0.26
DFAT Dimensional US Target Value Add +43.6% 0.72% +0.22
MSFT Microsoft Corp. Add +0.0% 2.21% +0.17
KWY Kingsway Corp. Add +151.3% 0.24% +0.14
SBUX Starbucks Corp. New 0.13% +0.13
IVV iShares Core S&P 500 ETF New 0.10% +0.10
GOVT iShares US Treasury Bond ETF Add +6.9% 3.59% +0.09
BSV Vanguard Short-Term Bond ETF Add +4.5% 8.56% +0.08
OXY Occidental Petroleum Corp. Add +33.4% 0.23% +0.07
DVN Devon Energy Corp. New 0.07% +0.07
PFE Pfizer Inc. Add +114.8% 0.12% +0.06
DFAX Dimensional World Ex US Core New 0.06% +0.06
AVGO Broadcom Inc. New 0.05% +0.05
JPM JPMorgan Chase & Co. New 0.05% +0.05
CRK Comstock Resources Inc. New 0.03% +0.03
GOOG Alphabet Inc. Class C Add +0.5% 0.63% +0.03
WFC Wells Fargo & Co. Add +0.0% 0.25% +0.03
BABA Alibaba Group Holding-SP ADR Add +13.9% 0.90% +0.03
DFCF Dimensional Core Fixed Inc. Add +4.4% 7.34% +0.01
VBTX Veritex Holdings Inc. Add +24.6% 0.12% +0.01
DFAU Dimensional US Core Equity M Add +1.1% 0.07% +0.00
HTZ Hertz Global Hldgs Inc. Add +50.0% 0.05% +0.00
BSM Black Stone Minerals LP Add +8.0% 0.05% +0.00
KRP Kimbell Royalty Partners LP Add +2.3% 0.04% +0.00
FAF First American Financial Add +0.2% 1.39% −0.12

Options Activity Q4 2023 → Q1 2024
SPY SS SPDR S&P 500 ETF Trust-US put Add +58.8% 135,000 $69.1M
AR Antero Resources Corp. put Sold out 700,000 $13.3Mbefore exit
KRE SS SPDR S&P Regional Bank put Reduce -44.4% 225,000 $9.4M
CPRT Copart Inc. put New 104,500 $5.0M
MMM 3M Co. put Sold out 50,100 $4.3Mbefore exit
DG Dollar General Corp. put Sold out 25,000 $3.1Mbefore exit
PARAA Paramount Global Class B call Reduce -50.0% 180,000 $2.7M
AAP Advance Auto Parts Inc. put Reduce -51.6% 24,200 $1.2M

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 124$675.0MBSV, DFAI, DCOR, DFCF, QUAL
Q1 2026 117$609.0MBSV, DFCF, DFAI, DCOR, QUAL
Q4 2025 120$614.2MBSV, DFAI, DFCF, DCOR, DFAE
Q3 2025 121$562.8MBSV, DFCF, DFAI, DCOR, DFAE
Q2 2025 118$542.2MBSV, DFCF, DFAI, META, DCOR
Q1 2025 114$533.7MBSV, DFCF, DFAI, META, DCOR
Q4 2024 119$505.0MBSV, DFCF, META, DFAI, VYM
Q3 2024 119$500.0MBSV, DFCF, DFAI, META, VYM
Q2 2024 118$480.4MBSV, DFCF, META, DFAI, VYM
Q1 2024 128$442.3MBSV, DFCF, META, VYM, GOVT