Annandale Capital, LLC

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 13, 2025), Annandale Capital, LLC reported 119 stock positions worth $505.0 million. Its top holding was Vanguard Short-Term Bond ETF (BSV) at 8.2% of the portfolio, followed by Dimensional Core Fixed (DFCF, 6.6%) and Meta Platforms Class A (META, 4.3%). Compared with Q3 2024, it opened 7 new positions, sold out of 7, added to 27 and reduced 28. The biggest buy was Advance Auto Parts (AAP, shares +47%) and the biggest sale Paramount Global Class B (PARAA, shares −74%).

Most Recent 13F
Q2 2026
Location
DALLAS, TX
CIK
0001811739
Portfolio Value
$505.0M (Q4 2024)
SEC Filing
0001811739-25-000001 ↗ filed Feb 13, 2025

Holdings Value

0$200.0M$400.0M$600.0M$800.0M Q1 2024: $442.3M Q1 2024 Q2 2024: $480.4M Q2 2024 Q3 2024: $500.0M Q3 2024 Q4 2024: $505.0M $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 119 stocks · $505.0M
BSV Vanguard Short-Term Bond ETF 8.18% 534,336 $41.3M Add +2.2%
DFCF Dimensional Core Fixed Inc. 6.59% 806,715 $33.3M Reduce -1.2%
META Meta Platforms Inc. Class A 4.30% 37,049 $21.7M Add +0.0%
DFAI Dimensional International Co. 4.29% 742,385 $21.7M Add +7.3%
VYM Vanguard High DVD Yield ETF 3.82% 151,198 $19.3M Reduce -1.2%
GOVT iShares US Treasury Bond ETF 3.74% 821,235 $18.9M Add +9.7%
MLPX Global X MLP & Energy Infras 3.50% 292,051 $17.7M Reduce -1.8%
DCOR Dimensional US Core Eq 1 ETF 3.38% 266,289 $17.1M Add +13.2%
DFAE Dimensional Emerging Core Eq 3.05% 607,403 $15.4M Reduce -0.2%
SPY SS SPDR S&P 500 ETF Trust-US 2.94% 25,301 $14.8M Reduce -2.7%
BRK.B Berkshire Hathaway Inc. Class B 2.43% 27,094 $12.3M No change
ET Energy Transfer LP 2.40% 619,013 $12.1M Reduce -5.3%
AMZN Amazon.com Inc. 2.26% 52,054 $11.4M Reduce 0.0%
NFLX Netflix Inc. 2.25% 12,746 $11.4M Reduce -4.5%
GOOGL Alphabet Inc. Class A 2.25% 59,901 $11.3M Reduce -4.0%
MSFT Microsoft Corp. 1.93% 23,129 $9.7M No change
AVUS Avantis U.S. Equity ETF 1.82% 94,941 $9.2M Add +0.7%
WMT Walmart Inc. 1.54% 86,146 $7.8M No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 1.49% 67,793 $7.5M Add +0.0%
KRE SS SPDR S&P Regional Bank 1.43% 120,000 $7.2M Reduce -14.3%
FAF First American Financial 1.43% 115,807 $7.2M No change
PGR Progressive Corp. 1.38% 29,079 $7.0M No change
AVDE Avantis International Equity 1.28% 105,392 $6.5M Add +0.4%
HD Home Depot Inc. 1.25% 16,262 $6.3M No change
AAPL Apple Inc. 1.18% 23,722 $5.9M Reduce -0.4%
MKL Markel Group Inc. 1.07% 3,137 $5.4M Add +0.6%
DFAT Dimensional US Target Value 1.05% 95,134 $5.3M Add +4.1%
ABBV Abbvie Inc. 1.03% 29,140 $5.2M Add +0.1%
AAP Advance Auto Parts Inc. 1.02% 109,241 $5.2M Add +46.6%
EPD Enterprise Products Partners 1.01% 162,007 $5.1M Reduce -8.4%
DFUV Dimensional US Marketwide Va 0.96% 118,630 $4.9M Reduce -3.0%
WRB WR Berkley Corp. filed as BERKLEY W R CORP 0.95% 82,279 $4.8M No change
QUAL iShares MSCI USA Quality Fac 0.90% 25,386 $4.5M Reduce -0.0%
ALLE Allegion PLC 0.88% 34,076 $4.5M No change
SCHW Schwab (charles) Corp. 0.88% 59,848 $4.4M No change
BABA Alibaba Group Holding-SP ADR 0.84% 50,328 $4.3M Add +0.1%
CPRT Copart Inc. 0.80% 70,184 $4.0M No change
BKNG Booking Holdings Inc. 0.79% 808 $4.0M No change
AVEM Avantis Emerging Markets Eq 0.78% 66,683 $3.9M Add +0.7%
V Visa Inc. Class A 0.76% 12,178 $3.8M No change
ABT Abbott Laboratories 0.73% 32,694 $3.7M Reduce -0.2%
GOOG Alphabet Inc. Class C 0.72% 19,181 $3.7M Add +5.5%
CSCO Cisco Systems Inc. 0.71% 60,586 $3.6M No change
BIDU Baidu Inc. - Spon ADR 0.67% 40,032 $3.4M Add +97.8%
AZO AutoZone Inc. 0.67% 1,050 $3.4M No change
AR Antero Resources Corp. 0.62% 89,854 $3.1M Add +116.8%
JNJ Johnson & Johnson 0.61% 21,222 $3.1M Add +0.1%
EFX Equifax Inc. 0.52% 10,375 $2.6M No change
GLD SPDR Gold Shares 0.51% 10,606 $2.6M Reduce -9.2%
ADBE Adobe Inc. 0.46% 5,276 $2.3M No change
UNP Union Pacific Corp. 0.46% 10,250 $2.3M Reduce -2.1%
COP Conocophillips 0.46% 23,470 $2.3M No change
ICE Intercontinental Exchange Inc. 0.45% 15,246 $2.3M No change
TXN Texas Instruments Inc. 0.44% 11,952 $2.2M No change
ACGL Arch Capital Group Ltd. 0.42% 22,786 $2.1M No change
EFA iShares MSCI Eafe ETF 0.40% 26,937 $2.0M Reduce -4.0%
VRSK Verisk Analytics Inc. 0.40% 7,299 $2.0M No change
BUR Burford Capital Ltd. 0.40% 156,700 $2.0M No change
QCOM Qualcomm Inc. 0.37% 12,041 $1.9M No change
KWEB Kranesh Csi China Internet 0.30% 51,803 $1.5M New
WSO Watsco Inc. 0.28% 3,009 $1.4M Add +0.1%
CSW CSW Industrials Inc. 0.26% 3,699 $1.3M No change
WFC Wells Fargo & Co. 0.26% 18,515 $1.3M Add +0.0%
KEYS Keysight Technologies Inc. 0.24% 7,637 $1.2M No change
CDW CDW Corp. 0.22% 6,366 $1.1M No change
ALGN Align Technology Inc. 0.22% 5,233 $1.1M Reduce -1.5%
KWY Kingsway Corp. 0.21% 128,200 $1.1M No change
PARAA Paramount Global Class B 0.19% 90,900 $951K Reduce -73.6%
VTV Vanguard Mrngstr Val ETF-Aui 0.18% 5,261 $891K No change
EOG EOG Resources Inc. 0.18% 7,235 $887K No change
URGN Urogen Pharma Ltd. 0.16% 75,552 $805K No change
OXY Occidental Petroleum Corp. 0.15% 15,589 $770K Reduce -5.3%
IVW iShares S&P 500 Growth ETF 0.14% 6,952 $706K No change
SHV iShares 0-1 Year Treasury Bo 0.14% 6,350 $699K Reduce -1.3%
RTO Rentokil Initial PLC-SP ADR 0.13% 26,000 $658K No change
MBB iShares MBS ETF 0.13% 7,074 $649K Reduce -7.4%
ACN Accenture PLC Class A 0.12% 1,755 $617K No change
ACWI iShares MSCI Acwi ETF 0.12% 5,072 $596K New
MELI MercadoLibre Inc. 0.11% 314 $534K New
EEM iShares MSCI Emerging Market 0.10% 11,702 $489K Reduce -9.0%
IVV iShares Core S&P 500 ETF 0.10% 829 $488K No change
SCHG Schwab US Large-Cap Growth 0.10% 17,436 $486K Add +0.1%
KMI Kinder Morgan Inc. 0.10% 17,550 $481K No change
MRK Merck & Co. Inc. 0.09% 4,703 $468K No change
DD Dupont DE Nemours Inc. 0.09% 5,795 $442K No change
XOM Exxon Mobil Corp. 0.08% 3,940 $424K Add +0.4%
DFAU Dimensional US Core Equity M 0.08% 10,230 $414K Add +1.5%
REEAF Ree Automotive Ltd. Class A 0.08% 46,666 $412K No change
AON Aon PLC Class A 0.08% 1,123 $403K No change
AVGO Broadcom Inc. 0.08% 1,670 $387K No change
NVDA Nvidia Corp. 0.08% 2,849 $383K Reduce -3.2%
PAA Plains All Amer Pipeline LP 0.08% 22,288 $381K No change
DFAX Dimensional World Ex US Core 0.07% 15,060 $374K Add +5.7%
FNDA Schwab Fndmntl US SM Co. ETF 0.07% 12,600 $374K No change
VXUS Vanguard Total Intl Stock 0.07% 5,700 $336K No change
CTVA Corteva Inc. 0.07% 5,767 $328K No change
VBR Vngrd Mrngst SL-CP Val ETF-U 0.06% 1,625 $322K No change
CMG Chipotle Mexican Grill Inc. 0.06% 5,000 $302K No change
FNDC Schwab Fndmnt Intl SM Eq ETF 0.06% 8,550 $292K No change
APA Apa Corp. 0.06% 12,474 $288K New
VBTX Veritex Holdings Inc. 0.05% 9,667 $263K Reduce -51.7%
JPM JPMorgan Chase & Co. 0.05% 1,075 $258K No change
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.05% 5,751 $253K Reduce -21.8%
DVN Devon Energy Corp. 0.05% 7,500 $245K No change
DOW Dow Inc. 0.05% 5,795 $233K No change
IWN iShares Russell 2000 Value E 0.05% 1,408 $231K No change
AIG American International Group 0.05% 3,151 $229K No change
CEE Central and Eastern Europe F 0.05% 20,928 $229K No change
CVX Chevron Corp. 0.04% 1,471 $213K Add +5.7%
DFAC Dimensional US Core Equity 2 0.04% 6,112 $211K Add +3.2%
BSM Black Stone Minerals LP 0.04% 14,382 $210K Add +5.5%
IWC iShares Micro-Cap ETF 0.04% 1,600 $209K New
DFAW Dimensional World Eqty ETF 0.04% 3,307 $207K New
OKE Oneok Inc. 0.04% 2,045 $205K New
KRP Kimbell Royalty Partners LP 0.04% 11,586 $188K No change
WWR Westwater Resources Inc. 0.04% 250,000 $177K No change
MESA AIR GROUP INC 0.03% 145,607 $169K Reduce -51.7%
OESX Orion Energy Systems Inc. 0.03% 173,339 $139K No change
APTOSE BIOSCIENCES INC 0.00% 26,666 $6K No change

Options reported separately and not counted above: SPY puts ($69.9M), VTI puts ($12.2M), VYM puts ($10.5M), ET puts ($9.0M), META puts ($7.7M), IAT puts ($6.8M), NFLX puts ($6.2M), ET calls ($2.0M), MCHI puts ($1.7M).

Portfolio Sells Q3 2024 → Q4 2024
PARAA Paramount Global Class B Reduce -73.6% 0.19% −0.54
DFCF Dimensional Core Fixed Inc. Reduce -1.2% 6.59% −0.46
EQC Equity Commonwealth Sold out 0.00% −0.43
KRANESHARES TRUST Sold out 0.00% −0.35
DFAE Dimensional Emerging Core Eq Reduce -0.2% 3.05% −0.29
KRE SS SPDR S&P Regional Bank Reduce -14.3% 1.43% −0.15
ACWX iShares MSCI Acwi Ex US ETF Sold out 0.00% −0.12
VYM Vanguard High DVD Yield ETF Reduce -1.2% 3.82% −0.10
EFA iShares MSCI Eafe ETF Reduce -4.0% 0.40% −0.07
VNOM Viper Energy Partners LP Sold out 0.00% −0.07
SU Suncor Energy Inc. Sold out 0.00% −0.06
GLD SPDR Gold Shares Reduce -9.2% 0.51% −0.06
DFUV Dimensional US Marketwide Va Reduce -3.0% 0.96% −0.06
ALGN Align Technology Inc. Reduce -1.5% 0.22% −0.05
UNP Union Pacific Corp. Reduce -2.1% 0.46% −0.05
VBTX Veritex Holdings Inc. Reduce -51.7% 0.05% −0.05
WMB Williams Cos Inc. Sold out 0.00% −0.05
SPY SS SPDR S&P 500 ETF Trust-US Reduce -2.7% 2.94% −0.05
MESA AIR GROUP INC Reduce -51.7% 0.03% −0.04
HTZ Hertz Global Hldgs Inc. Sold out 0.00% −0.03
EPD Enterprise Products Partners Reduce -8.4% 1.01% −0.02
EEM iShares MSCI Emerging Market Reduce -9.0% 0.10% −0.02
MBB iShares MBS ETF Reduce -7.4% 0.13% −0.02
OXY Occidental Petroleum Corp. Reduce -5.3% 0.15% −0.02
QUAL iShares MSCI USA Quality Fac Reduce -0.0% 0.90% −0.02
ABT Abbott Laboratories Reduce -0.2% 0.73% −0.01
BAC Bank of America Corp. Reduce -21.8% 0.05% −0.01
SHV iShares 0-1 Year Treasury Bo Reduce -1.3% 0.14% −0.00
NVDA Nvidia Corp. Reduce -3.2% 0.08% +0.00
AAPL Apple Inc. Reduce -0.4% 1.18% +0.07
GOOGL Alphabet Inc. Class A Reduce -4.0% 2.25% +0.18
MLPX Global X MLP & Energy Infras Reduce -1.8% 3.50% +0.26
ET Energy Transfer LP Reduce -5.3% 2.40% +0.30
AMZN Amazon.com Inc. Reduce 0.0% 2.26% +0.32
NFLX Netflix Inc. Reduce -4.5% 2.25% +0.36

Portfolio Buys Q3 2024 → Q4 2024
AAP Advance Auto Parts Inc. Add +46.6% 1.02% +0.44
DCOR Dimensional US Core Eq 1 ETF Add +13.2% 3.38% +0.40
AR Antero Resources Corp. Add +116.8% 0.62% +0.39
KWEB Kranesh Csi China Internet New 0.30% +0.30
BIDU Baidu Inc. - Spon ADR Add +97.8% 0.67% +0.24
GOVT iShares US Treasury Bond ETF Add +9.7% 3.74% +0.23
DIS The Walt Disney Co. Add +0.0% 1.49% +0.19
ACWI iShares MSCI Acwi ETF New 0.12% +0.12
GOOG Alphabet Inc. Class C Add +5.5% 0.72% +0.12
MELI MercadoLibre Inc. New 0.11% +0.11
MKL Markel Group Inc. Add +0.6% 1.07% +0.09
APA Apa Corp. New 0.06% +0.06
META Meta Platforms Inc. Class A Add +0.0% 4.30% +0.05
WFC Wells Fargo & Co. Add +0.0% 0.26% +0.05
IWC iShares Micro-Cap ETF New 0.04% +0.04
DFAW Dimensional World Eqty ETF New 0.04% +0.04
OKE Oneok Inc. New 0.04% +0.04
DFAT Dimensional US Target Value Add +4.1% 1.05% +0.03
AVUS Avantis U.S. Equity ETF Add +0.7% 1.82% +0.03
SCHG Schwab US Large-Cap Growth Add +0.1% 0.10% +0.01
DFAU Dimensional US Core Equity M Add +1.5% 0.08% +0.00
CVX Chevron Corp. Add +5.7% 0.04% +0.00
DFAC Dimensional US Core Equity 2 Add +3.2% 0.04% +0.00
BSM Black Stone Minerals LP Add +5.5% 0.04% +0.00
DFAX Dimensional World Ex US Core Add +5.7% 0.07% −0.00
XOM Exxon Mobil Corp. Add +0.4% 0.08% −0.01
WSO Watsco Inc. Add +0.1% 0.28% −0.01
BSV Vanguard Short-Term Bond ETF Add +2.2% 8.18% −0.05
JNJ Johnson & Johnson Add +0.1% 0.61% −0.08
AVEM Avantis Emerging Markets Eq Add +0.7% 0.78% −0.08
DFAI Dimensional International Co. Add +7.3% 4.29% −0.11
ABBV Abbvie Inc. Add +0.1% 1.03% −0.12
AVDE Avantis International Equity Add +0.4% 1.28% −0.13
BABA Alibaba Group Holding-SP ADR Add +0.1% 0.84% −0.22

Options Activity Q3 2024 → Q4 2024
STATE STR SPDR S&P 500 ETF T put Sold out 312,600 $152.4Mbefore exit
SPY SS SPDR S&P 500 ETF Trust-US put New 130,000 $69.9M
ISHARES TR put Sold out 330,000 $26.1Mbefore exit
VTI VG Morningstar TS MKT ETF-US put New 45,000 $12.2M
SPDR SERIES TRUST put Sold out 225,000 $9.4Mbefore exit
ET Energy Transfer LP put New 500,000 $9.0M
META Meta Platforms Inc. Class A put New 13,000 $7.7M
VANGUARD SPECIALIZED FUNDS put Sold out 40,000 $7.0Mbefore exit
IAT iShares US Regional Banks Et put New 136,000 $6.8M
NFLX Netflix Inc. put New 7,000 $6.2M
DISNEY WALT CO put Sold out 35,500 $3.0Mbefore exit
ET Energy Transfer LP call New 100,000 $2.0M
ENERGY TRANSFER L P call Sold out 100,000 $2.0Mbefore exit
MCHI iShares MSCI China ETF put New 38,000 $1.7M
ISHARES TR put Sold out 38,000 $1.7Mbefore exit
COPART INC put Sold out 35,000 $1.6Mbefore 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