Annandale Capital, LLC

In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 15, 2024), Annandale Capital, LLC reported 118 stock positions worth $480.4 million. Its top holding was Vanguard Short-Term Bond ETF (BSV) at 8.2% of the portfolio, followed by Dimensional Core Fixed (DFCF, 6.9%) and Meta Platforms Class A (META, 3.9%). Compared with Q1 2024, it opened 11 new positions, sold out of 21, added to 39 and reduced 18. The biggest buy was SS SPDR S&P 500 ETF Trust-US (SPY, shares +77%) and the biggest sale Walt Disney (DIS, shares −5%).

Most Recent 13F
Q2 2026
Location
DALLAS, TX
CIK
0001811739
Portfolio Value
$480.4M (Q2 2024)
SEC Filing
0001811739-24-000004 ↗ filed Aug 15, 2024

Holdings Value

0$200.0M$400.0M$600.0M$800.0M Q1 2024: $442.3M Q1 2024 Q2 2024: $480.4M $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 118 stocks · $480.4M
BSV Vanguard Short-Term Bond ETF 8.19% 513,001 $39.3M Add +3.9%
DFCF Dimensional Core Fixed Inc. 6.91% 798,946 $33.2M Add +3.2%
META Meta Platforms Inc. Class A 3.92% 37,362 $18.8M No change
DFAI Dimensional International Co. 3.85% 623,228 $18.5M Add +19.7%
VYM Vanguard High DVD Yield ETF 3.72% 150,793 $17.9M Add +8.3%
GOVT iShares US Treasury Bond ETF 3.40% 723,313 $16.3M Add +3.6%
MLPX Global X MLP & Energy Infras 3.21% 302,549 $15.4M Add +4.1%
SPY SS SPDR S&P 500 ETF Trust-US 3.16% 27,892 $15.2M Add +76.5%
ET Energy Transfer LP 3.12% 924,082 $15.0M No change
DFAE Dimensional Emerging Core Eq 3.01% 559,603 $14.5M Add +17.4%
GOOGL Alphabet Inc. Class A 2.78% 73,390 $13.4M No change
BRK.B Berkshire Hathaway Inc. Class B 2.30% 27,110 $11.0M Add +1.8%
DCOR Dimensional US Core Eq 1 ETF 2.20% 177,673 $10.6M Add +70.2%
MSFT Microsoft Corp. 2.16% 23,198 $10.4M Reduce -0.2%
AMZN Amazon.com Inc. 2.10% 52,135 $10.1M No change
NFLX Netflix Inc. 1.87% 13,346 $9.0M No change
AVUS Avantis U.S. Equity ETF 1.68% 89,410 $8.1M Add +40.4%
KRE SS SPDR S&P Regional Bank 1.43% 140,000 $6.9M No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 1.41% 68,148 $6.8M Reduce -5.3%
FAF First American Financial 1.30% 115,755 $6.2M Add +14.9%
AVDE Avantis International Equity 1.29% 99,654 $6.2M Add +35.3%
HD Home Depot Inc. 1.27% 17,749 $6.1M Add +9.2%
PGR Progressive Corp. 1.26% 29,125 $6.0M Reduce -0.2%
WMT Walmart Inc. 1.22% 86,260 $5.8M Reduce -0.8%
EPD Enterprise Products Partners 1.19% 197,094 $5.7M Add +0.0%
AAPL Apple Inc. 1.06% 24,139 $5.1M Add +0.8%
ABBV Abbvie Inc. 1.04% 29,106 $5.0M Add +686.6%
MKL Markel Group Inc. 1.02% 3,118 $4.9M No change
DFUV Dimensional US Marketwide Va 1.01% 123,255 $4.8M Reduce -8.2%
QUAL iShares MSCI USA Quality Fac 0.94% 26,500 $4.5M Add +1.4%
BABA Alibaba Group Holding-SP ADR 0.92% 61,653 $4.4M Add +11.8%
AAP Advance Auto Parts Inc. 0.92% 69,865 $4.4M Reduce -0.1%
SCHW Schwab (charles) Corp. 0.92% 59,743 $4.4M No change
WRB WR Berkley Corp. filed as BERKLEY W R CORP 0.90% 54,853 $4.3M No change
CSCO Cisco Systems Inc. 0.90% 90,581 $4.3M Reduce -0.4%
GLD SPDR Gold Shares 0.87% 19,381 $4.2M No change
DFAT Dimensional US Target Value 0.86% 79,436 $4.1M Add +35.1%
ALLE Allegion PLC 0.84% 34,076 $4.0M No change
AVEM Avantis Emerging Markets Eq 0.80% 62,899 $3.8M Add +33.8%
CPRT Copart Inc. 0.79% 70,324 $3.8M No change
AZO AutoZone Inc. 0.76% 1,225 $3.6M Reduce -0.3%
ABT Abbott Laboratories 0.72% 33,124 $3.4M Add +1125.5%
GOOG Alphabet Inc. Class C 0.70% 18,220 $3.3M Add +0.0%
QCOM Qualcomm Inc. 0.68% 16,331 $3.3M Reduce -9.4%
HHH Howard Hughes Holdings Inc. 0.67% 50,000 $3.2M New
JNJ Johnson & Johnson 0.64% 21,196 $3.1M No change
ADBE Adobe Inc. 0.61% 5,276 $2.9M Add +10.5%
COP Conocophillips 0.56% 23,469 $2.7M No change
TXN Texas Instruments Inc. 0.52% 12,952 $2.5M No change
EFX Equifax Inc. 0.52% 10,375 $2.5M No change
BKNG Booking Holdings Inc. 0.50% 612 $2.4M No change
UNP Union Pacific Corp. 0.49% 10,472 $2.4M No change
ACGL Arch Capital Group Ltd. 0.48% 22,786 $2.3M No change
ICE Intercontinental Exchange Inc. 0.47% 16,519 $2.3M No change
EFA iShares MSCI Eafe ETF 0.46% 28,337 $2.2M Reduce -4.5%
PARAA Paramount Global Class B 0.46% 213,058 $2.2M Add +4.5%
EQC Equity Commonwealth 0.43% 6,755 $2.1M No change
BUR Burford Capital Ltd. 0.43% 156,700 $2.0M Add +11.9%
VRSK Verisk Analytics Inc. 0.41% 7,325 $2.0M No change
BIDU Baidu Inc. - Spon ADR 0.39% 21,696 $1.9M Add +10.7%
MCHI iShares MSCI China ETF 0.37% 42,400 $1.8M No change
CDW CDW Corp. 0.30% 6,366 $1.4M No change
CSW CSW Industrials Inc. 0.29% 5,332 $1.4M No change
WSO Watsco Inc. 0.29% 3,006 $1.4M No change
AR Antero Resources Corp. 0.27% 39,454 $1.3M No change
URGN Urogen Pharma Ltd. 0.26% 75,552 $1.3M Reduce -7.4%
V Visa Inc. Class A 0.25% 4,584 $1.2M Add +48.6%
WFC Wells Fargo & Co. 0.24% 19,142 $1.1M Add +1.2%
KWY Kingsway Corp. 0.22% 128,200 $1.1M Add +2.6%
AMT American Tower Corp. 0.22% 5,400 $1.1M No change
KEYS Keysight Technologies Inc. 0.22% 7,637 $1.0M No change
OXY Occidental Petroleum Corp. 0.21% 15,980 $1.0M No change
EEM iShares MSCI Emerging Market 0.20% 22,151 $943K Reduce -2.6%
EOG EOG Resources Inc. 0.19% 7,235 $911K No change
VTV Vanguard Mrngstr Val ETF-Aui 0.18% 5,261 $844K Add +130.6%
IVV iShares Core S&P 500 ETF 0.17% 1,514 $829K Add +82.6%
SBUX Starbucks Corp. 0.16% 9,775 $761K Add +60.9%
MBB iShares MBS ETF 0.15% 7,851 $721K Reduce -54.5%
HSY The Hershey Co. 0.15% 3,900 $717K New
SHV iShares 0-1 Year Treasury Bo 0.15% 6,438 $711K Reduce -0.1%
IVW iShares S&P 500 Growth ETF 0.13% 6,952 $643K No change
MRK Merck & Co. Inc. 0.12% 4,718 $584K No change
RTO Rentokil Initial PLC-SP ADR 0.11% 18,100 $537K New
ACWX iShares MSCI Acwi Ex US ETF 0.11% 4,755 $534K Add +0.0%
ACN Accenture PLC Class A 0.11% 1,755 $532K New
PFE Pfizer Inc. 0.11% 18,571 $520K Add +0.0%
MESA AIR GROUP INC 0.11% 301,270 $515K No change
VEEV Veeva Systems Inc. Class A 0.11% 2,800 $512K New
NVDA Nvidia Corp. 0.10% 3,983 $492K Reduce -10.3%
XOM Exxon Mobil Corp. 0.10% 4,146 $477K Add +12.5%
DD Dupont DE Nemours Inc. 0.10% 5,795 $466K No change
SCHG Schwab US Large-Cap Growth 0.09% 4,345 $438K New
VBTX Veritex Holdings Inc. 0.09% 20,000 $422K Reduce -20.0%
PAA Plains All Amer Pipeline LP 0.08% 22,288 $398K No change
KMI Kinder Morgan Inc. 0.08% 18,750 $373K Reduce -39.7%
DVN Devon Energy Corp. 0.07% 7,500 $356K Add +25.0%
FNDA Schwab Fndmntl US SM Co. ETF 0.07% 6,300 $346K New
VXUS Vanguard Total Intl Stock 0.07% 5,700 $344K New
AON Aon PLC Class A 0.07% 1,123 $330K No change
SU Suncor Energy Inc. 0.07% 8,525 $325K No change

Show all 118 holdings

Options reported separately and not counted above: STATE STR SPDR S&P 500 ETF T puts ($95.7M), SPDR SERIES TRUST puts ($6.9M), ISHARES TR puts ($1.7M).

Portfolio Sells Q1 2024 → Q2 2024
DIS The Walt Disney Co. Reduce -5.3% 1.41% −0.58
AAP Advance Auto Parts Inc. Reduce -0.1% 0.92% −0.42
BIL SS SPDR BB 1-3M T-Bill ETF Sold out 0.00% −0.36
DFUV Dimensional US Marketwide Va Reduce -8.2% 1.01% −0.23
MBB iShares MBS ETF Reduce -54.5% 0.15% −0.21
BOC Boston Omaha Corp. Class A Sold out 0.00% −0.18
SHY iShares 1-3 Year Treasury Bo Sold out 0.00% −0.17
AGG iShares Core U.S. Aggregate Sold out 0.00% −0.15
CSCO Cisco Systems Inc. Reduce -0.4% 0.90% −0.13
AMJ JPMorgan Alerian MLP Index Sold out 0.00% −0.12
AZO AutoZone Inc. Reduce -0.3% 0.76% −0.12
PGR Progressive Corp. Reduce -0.2% 1.26% −0.10
DSGR Distribution Solutions Group Sold out 0.00% −0.09
EFA iShares MSCI Eafe ETF Reduce -4.5% 0.46% −0.07
ERF Enerplus Corp. Sold out 0.00% −0.07
REEAF Ree Automotive Ltd. Class A Sold out 0.00% −0.06
MPLX MPLX LP Sold out 0.00% −0.06
HTZ Hertz Global Hldgs Inc. Sold out 0.00% −0.05
MSFT Microsoft Corp. Reduce -0.2% 2.16% −0.05
KMI Kinder Morgan Inc. Reduce -39.7% 0.08% −0.05
YUM Yum! Brands Inc. Sold out 0.00% −0.05
FOSL Fossil Group Inc. Sold out 0.00% −0.05
RF Regions Financial Corp. Sold out 0.00% −0.05
BA The Boeing Co. Sold out 0.00% −0.05
LLFLQ LL Flooring Holdings Inc. Sold out 0.00% −0.04
OESX Orion Energy Systems Inc. Sold out 0.00% −0.04
KRP Kimbell Royalty Partners LP Sold out 0.00% −0.04
CRK Comstock Resources Inc. Sold out 0.00% −0.03
VBTX Veritex Holdings Inc. Reduce -20.0% 0.09% −0.03
WWR Westwater Resources Inc. Sold out 0.00% −0.03
RYAN Ryan Specialty Holdings Inc. Sold out 0.00% −0.02
EEM iShares MSCI Emerging Market Reduce -2.6% 0.20% −0.02
QCOM Qualcomm Inc. Reduce -9.4% 0.68% −0.01
WMB Williams Cos Inc. Reduce -21.7% 0.05% −0.01
SHV iShares 0-1 Year Treasury Bo Reduce -0.1% 0.15% −0.01
URGN Urogen Pharma Ltd. Reduce -7.4% 0.26% −0.01
APTOSE BIOSCIENCES INC Sold out 0.00% −0.01
NVDA Nvidia Corp. Reduce -10.3% 0.10% +0.01
WMT Walmart Inc. Reduce -0.8% 1.22% +0.03

Portfolio Buys Q1 2024 → Q2 2024
SPY SS SPDR S&P 500 ETF Trust-US Add +76.5% 3.16% +1.29
ABBV Abbvie Inc. Add +686.6% 1.04% +0.89
DCOR Dimensional US Core Eq 1 ETF Add +70.2% 2.20% +0.82
HHH Howard Hughes Holdings Inc. New 0.67% +0.67
ABT Abbott Laboratories Add +1125.5% 0.72% +0.65
AVUS Avantis U.S. Equity ETF Add +40.4% 1.68% +0.39
DFAE Dimensional Emerging Core Eq Add +17.4% 3.01% +0.35
DFAI Dimensional International Co. Add +19.7% 3.85% +0.29
AVDE Avantis International Equity Add +35.3% 1.29% +0.23
AVEM Avantis Emerging Markets Eq Add +33.8% 0.80% +0.18
HSY The Hershey Co. New 0.15% +0.15
DFAT Dimensional US Target Value Add +35.1% 0.86% +0.13
AAPL Apple Inc. Add +0.8% 1.06% +0.13
RTO Rentokil Initial PLC-SP ADR New 0.11% +0.11
ACN Accenture PLC Class A New 0.11% +0.11
VEEV Veeva Systems Inc. Class A New 0.11% +0.11
VTV Vanguard Mrngstr Val ETF-Aui Add +130.6% 0.18% +0.09
SCHG Schwab US Large-Cap Growth New 0.09% +0.09
IVV iShares Core S&P 500 ETF Add +82.6% 0.17% +0.07
FNDA Schwab Fndmntl US SM Co. ETF New 0.07% +0.07
VXUS Vanguard Total Intl Stock New 0.07% +0.07
GOOG Alphabet Inc. Class C Add +0.0% 0.70% +0.07
ADBE Adobe Inc. Add +10.5% 0.61% +0.07
VBR Vngrd Mrngst SL-CP Val ETF-U New 0.06% +0.06
FNDC Schwab Fndmnt Intl SM Eq ETF New 0.06% +0.06
V Visa Inc. Class A Add +48.6% 0.25% +0.06
CHRD Chord Energy Corp. New 0.05% +0.05
SBUX Starbucks Corp. Add +60.9% 0.16% +0.03
BABA Alibaba Group Holding-SP ADR Add +11.8% 0.92% +0.02
DVN Devon Energy Corp. Add +25.0% 0.07% +0.01
XOM Exxon Mobil Corp. Add +12.5% 0.10% +0.00
DFAU Dimensional US Core Equity M Add +5.8% 0.07% −0.00
BAC Bank of America Corp. Add +0.0% 0.06% −0.00
MLPX Global X MLP & Energy Infras Add +4.1% 3.21% −0.01
ACWX iShares MSCI Acwi Ex US ETF Add +0.0% 0.11% −0.01
PFE Pfizer Inc. Add +0.0% 0.11% −0.01
WFC Wells Fargo & Co. Add +1.2% 0.24% −0.01
KWY Kingsway Corp. Add +2.6% 0.22% −0.02
QUAL iShares MSCI USA Quality Fac Add +1.4% 0.94% −0.03
BIDU Baidu Inc. - Spon ADR Add +10.7% 0.39% −0.08
BUR Burford Capital Ltd. Add +11.9% 0.43% −0.08
PARAA Paramount Global Class B Add +4.5% 0.46% −0.08
VYM Vanguard High DVD Yield ETF Add +8.3% 3.72% −0.09
FAF First American Financial Add +14.9% 1.30% −0.09
EPD Enterprise Products Partners Add +0.0% 1.19% −0.11
HD Home Depot Inc. Add +9.2% 1.27% −0.14
GOVT iShares US Treasury Bond ETF Add +3.6% 3.40% −0.20
BRK.B Berkshire Hathaway Inc. Class B Add +1.8% 2.30% −0.24
BSV Vanguard Short-Term Bond ETF Add +3.9% 8.19% −0.37
DFCF Dimensional Core Fixed Inc. Add +3.2% 6.91% −0.44

Options Activity Q1 2024 → Q2 2024
STATE STR SPDR S&P 500 ETF T put New 195,000 $95.7M
SPY SS SPDR S&P 500 ETF Trust-US put Sold out 135,000 $69.1Mbefore exit
VYM Vanguard High DVD Yield ETF put Sold out 100,000 $10.5Mbefore exit
KRE SS SPDR S&P Regional Bank put Sold out 225,000 $9.4Mbefore exit
SPDR SERIES TRUST put New 164,500 $6.9M
CPRT Copart Inc. put Sold out 104,500 $5.0Mbefore exit
DIS The Walt Disney Co. put Sold out 35,500 $3.0Mbefore exit
PARAA Paramount Global Class B call Sold out 180,000 $2.7Mbefore exit
ISHARES TR put New 38,000 $1.7M
AAP Advance Auto Parts Inc. put Sold out 24,200 $1.2Mbefore exit

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