Annandale Capital, LLC
CIK 1811739 · View on SEC EDGAR ↗
- Portfolio value
- $733K
- Positions
- 128
- As of
- June 30, 2026
#9,203 of 9,443 by 13F value · top 97.5%
Portfolio value QoQ: +3.4% 13F does not disclose cash
- Top 10 holdings weight
- 45.97%
- Top 25 holdings weight
- 70.66%
- Positions above 1%
- 29
- Effective number of positions
- 35.3
Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)
Turnover Q2 2026: 6.93% Est. buys $49,922 · sells $67,187
Median holding: 5.0 quarters Tracked Q4 2024–Q2 2026 · 64.3% still held
- New positions
- 18
- Increased
- 32
- Decreased
- 30
- Closed
- 11
Put-notional exposure: 7.9% puts 13F reports option positions at underlying notional value — may include hedges, not necessarily bearish bets
On this page
- Sector breakdown How the portfolio splits across market sectors.
- Portfolio Every stock this institution reports holding, from its latest 13F.
- High-conviction bets The holdings this manager is most concentrated in.
- Biggest new bets Brand-new positions opened in the latest quarter.
- Top moves The biggest position increases and decreases this quarter.
- Exited positions Positions the manager fully sold out of last quarter.
Sector breakdown
Technology
6.6%
Financials
5.5%
Communication Services
5.1%
Retail
4.7%
Healthcare
4.2%
Industrials
2.4%
Financial Services
2.0%
Energy
1.9%
Communications
0.9%
Consumer Discretionary
0.5%
Consumer Staples
0.4%
Other/Unmapped
65.9%
Full portfolio 128 positions
| Type | Streak | 8Q trend | |||||
|---|---|---|---|---|---|---|---|
| BSV | $43,384 | 5.92% | 556,851 | $447 | Up ×2 | ||
| DFAI | $41,568 | 5.67% | 1,007,698 | $5,838 | Up ×1 | ||
| DCOR | $41,297 | 5.64% | 503,749 | $9,840 | Up ×1 | ||
| SPY SPY | $38,933 | 5.31% | 60,200 | Put option | $-42,000 | Down ×1 | |
| DFCF | $37,327 | 5.09% | 884,325 | $534 | Up ×4 | ||
| QUAL | $34,156 | 4.66% | 155,660 | $5,849 | Up ×5 | ||
| DFAE | $28,038 | 3.83% | 697,284 | $3,759 | Down ×2 | ||
| VYM | $26,074 | 3.56% | 164,994 | $1,788 | Up ×1 | ||
| MSFT Microsoft Corporation - Common Stock | $23,567 | 3.22% | 63,180 | $6,229 | Up ×3 | ||
| SPY SPY | $22,530 | 3.07% | 30,170 | $2,652 | Down ×1 | ||
| GOVT | $19,940 | 2.72% | 875,351 | $-73 | Up ×4 | ||
| EEM | $14,421 | 1.97% | 210,809 | $2,449 | |||
| META Meta Platforms, Inc. - Class A Common Stock | $13,718 | 1.87% | 24,354 | $-399 | Down ×1 | ||
| BRKB | $13,544 | 1.85% | 27,067 | $576 | Up ×1 | ||
| MLPX | $12,644 | 1.73% | 171,649 | $-372 | Down ×2 | ||
| AMZN Amazon.com, Inc. - Common Stock | $12,577 | 1.72% | 52,769 | $1,596 | Up ×2 | ||
| AVUS | $12,144 | 1.66% | 94,819 | $1,602 | |||
| HD Home Depot, Inc. (The) Common Stock | $12,141 | 1.66% | 34,424 | $862 | Up ×6 | ||
| AAPL Apple Inc. - Common Stock | $11,721 | 1.60% | 40,508 | $5,608 | Up ×3 | ||
| DFAX | $11,264 | 1.54% | 305,764 | $2,029 | Up ×6 | ||
| IWM | $10,000 | 1.36% | 50,000 | Put option | $0 | ||
| VGSH Vanguard Short-Term Treasury ETF | $9,577 | 1.31% | 164,553 | $-3,736 | Down ×1 | ||
| WMT Walmart Inc. - Common Stock | $9,262 | 1.26% | 81,779 | $-908 | Down ×4 | ||
| GOOGL Alphabet Inc. - Class A Common Stock | $9,032 | 1.23% | 25,274 | $903 | Down ×2 | ||
| DFAT | $8,961 | 1.22% | 128,199 | $1,496 | Up ×1 | ||
| EEM | $8,685 | 1.19% | 200,000 | Put option | $0 | ||
| AVDE | $8,497 | 1.16% | 95,262 | $415 | |||
| UBER Uber Technologies, Inc. Common Stock | $7,801 | 1.06% | 108,113 | $24 | Down ×1 | ||
| GOOG Alphabet Inc. - Class C Capital Stock | $7,443 | 1.02% | 21,066 | $1,358 | Down ×1 | ||
| PGR Progressive Corporation (The) Common Stock | $7,164 | 0.98% | 32,794 | $663 | |||
| ABBV AbbVie Inc. Common Stock | $7,054 | 0.96% | 28,032 | $957 | |||
| AON Aon plc Class A Ordinary Shares (Ireland) | $6,996 | 0.95% | 21,091 | $207 | Up ×4 | ||
| NVDA NVIDIA Corporation - Common Stock | $6,971 | 0.95% | 34,841 | $4,729 | Up ×2 | ||
| DFUV | $6,891 | 0.94% | 125,272 | $823 | Up ×1 | ||
| ET Energy Transfer LP Common Units | $6,663 | 0.91% | 348,462 | $-127 | Down ×2 | ||
| CSCO Cisco Systems, Inc. - Common Stock | $6,556 | 0.89% | 55,815 | $2,225 | |||
| ACGL Arch Capital Group Ltd. - Common Stock | $6,005 | 0.82% | 61,870 | $47 | Down ×1 | ||
| NFLX Netflix, Inc. - Common Stock | $5,906 | 0.81% | 82,719 | $-2,047 | |||
| FAF First American Corporation (New) Common Stock | $5,340 | 0.73% | 77,855 | $-2,519 | Down ×1 | ||
| JNJ Johnson & Johnson Common Stock | $5,330 | 0.73% | 20,987 | $193 | Down ×3 | ||
| KRE | $5,187 | 0.71% | 69,300 | $301 | Down ×3 | ||
| V Visa Inc. | $4,998 | 0.68% | 14,568 | $632 | Up ×4 | ||
| AVEM | $4,978 | 0.68% | 51,594 | $374 | Down ×5 | ||
| ABT Abbott Laboratories Common Stock | $4,066 | 0.55% | 44,814 | $1,138 | Up ×2 | ||
| CPRT Copart, Inc. - Common Stock | $3,736 | 0.51% | 132,542 | $-645 | Up ×4 | ||
| IWM | $3,425 | 0.47% | 11,400 | $598 | |||
| AKRE | $3,363 | 0.46% | 63,218 | $-435 | Down ×2 | ||
| SCHW Charles Schwab Corporation (The) Common Stock | $3,308 | 0.45% | 35,848 | $-61 | |||
| FCNCA First Citizens BancShares, Inc. - Class A Common Stock | $3,184 | 0.43% | 1,530 | $300 | |||
| TSM Taiwan Semiconductor Manufacturing Company Ltd. | $3,018 | 0.41% | 6,319 | Up ×1 | |||
| BKNG Booking Holdings Inc. - Common Stock | $2,910 | 0.40% | 16,325 | $161 | Up ×1 | ||
| TMO Thermo Fisher Scientific Inc Common Stock | $2,733 | 0.37% | 5,452 | $545 | Up ×2 | ||
| KDP Keurig Dr Pepper Inc. - Common Stock | $2,682 | 0.37% | 81,958 | $-379 | Down ×2 | ||
| EFA | $2,609 | 0.36% | 25,113 | $170 | |||
| JPM JP Morgan Chase & Co. Common Stock | $2,567 | 0.35% | 7,842 | $260 | |||
| WRB W.R. Berkley Corporation Common Stock | $2,559 | 0.35% | 36,279 | $-1,357 | Down ×3 | ||
| NRP Natural Resource Partners LP Limited Partnership | $2,542 | 0.35% | 26,207 | $-629 | |||
| BDX Becton, Dickinson and Company Common Stock | $2,415 | 0.33% | 15,961 | $943 | Up ×1 | ||
| OKE ONEOK, Inc. Common Stock | $2,398 | 0.33% | 27,587 | $-96 | |||
| UNP Union Pacific Corporation Common Stock | $2,070 | 0.28% | 7,610 | $-407 | Down ×1 | ||
| MKL Markel Group Inc. Common Stock | $1,976 | 0.27% | 1,012 | $39 | |||
| MRSH Marsh Common Stock | $1,947 | 0.27% | 12,480 | $-1,667 | Down ×1 | ||
| ICE Intercontinental Exchange Inc. Common Stock | $1,870 | 0.26% | 15,188 | $-519 | |||
| URGN UroGen Pharma Ltd. - Ordinary Shares | $1,672 | 0.23% | 45,425 | $619 | Down ×4 | ||
| APO Apollo Global Management, Inc. (New) Common Stock | $1,640 | 0.22% | 13,860 | $123 | Up ×1 | ||
| SPGI S&P Global Inc. Common Stock | $1,538 | 0.21% | 3,777 | $-69 | |||
| KKR KKR & Co. Inc. Common Stock | $1,528 | 0.21% | 16,650 | $-12 | |||
| WBD Warner Bros. Discovery, Inc. - Series A Common Stock | $1,524 | 0.21% | 57,177 | Up ×1 | |||
| DHR Danaher Corporation Common Stock | $1,491 | 0.20% | 7,827 | $7 | |||
| MDT Medtronic plc. Ordinary Shares | $1,490 | 0.20% | 19,044 | Up ×1 | |||
| WSO Watsco, Inc. Common Stock | $1,465 | 0.20% | 3,516 | $186 | |||
| MRK Merck & Company, Inc. Common Stock (new) | $1,418 | 0.19% | 11,035 | $850 | Up ×2 | ||
| KFS Kingsway Financial Services, Inc. Common Stock (DE) | $1,336 | 0.18% | 128,200 | $-1 | |||
| NVO Novo Nordisk A/S Common Stock | $1,151 | 0.16% | 24,000 | Up ×1 | |||
| GLOO Gloo Holdings, Inc. - Common Stock | $1,138 | 0.16% | 250,000 | $-65 | |||
| VRSK Verisk Analytics, Inc. - Common Stock | $1,131 | 0.15% | 6,299 | $-64 | |||
| VTV | $1,130 | 0.15% | 5,187 | $98 | Down ×1 | ||
| DFAW | $1,105 | 0.15% | 13,349 | $141 | Up ×6 | ||
| IQV IQVIA Holdings, Inc. Common Stock | $1,024 | 0.14% | 5,300 | Up ×1 | |||
| AR Antero Resources Corporation Common Stock | $930 | 0.13% | 26,464 | $75 | Up ×1 | ||
| IVW | $882 | 0.12% | 6,412 | $157 | |||
| MEDP Medpace Holdings, Inc. - Common Stock | $847 | 0.12% | 1,600 | $79 | |||
| ACWI iShares MSCI ACWI ETF | $816 | 0.11% | 5,200 | $95 | Down ×2 | ||
| CSW CSW Industrials, Inc. Common Stock | $757 | 0.10% | 2,721 | $48 | |||
| BRKA | $749 | 0.10% | 1 | Up ×1 | |||
| MBB iShares MBS ETF | $656 | 0.09% | 6,939 | $-3 | |||
| CLSK CleanSpark, Inc. - Common Stock | $634 | 0.09% | 43,572 | Up ×1 | |||
| IVV | $621 | 0.08% | 829 | $79 | |||
| DFAU | $617 | 0.08% | 11,932 | $79 | |||
| TSLA Tesla, Inc. - Common Stock | $599 | 0.08% | 1,424 | $357 | Up ×2 | ||
| SCHG | $594 | 0.08% | 17,546 | $83 | Up ×6 | ||
| DELL Dell Technologies Inc. Class C Common Stock | $541 | 0.07% | 1,253 | $241 | Down ×1 | ||
| BRO Brown & Brown, Inc. Common Stock | $488 | 0.07% | 7,600 | Up ×1 | |||
| VXUS Vanguard Total International Stock ETF | $487 | 0.07% | 5,700 | $47 | |||
| FNDA | $480 | 0.07% | 12,600 | $71 | |||
| CEE The Central and Eastern Europe Fund, Inc. (The) Common Stock | $430 | 0.06% | 20,928 | $47 | |||
| DIA | $425 | 0.06% | 813 | $81 | Up ×2 | ||
| FNDC | $415 | 0.06% | 8,550 | $19 | |||
| PAA Plains All American Pipeline, L.P. - Common Units representing Limited Partner Interests | $404 | 0.06% | 18,153 | $-1 | |||
| FIX Comfort Systems USA, Inc. Common Stock | $396 | 0.05% | 200 | Up ×1 | |||
| No matches | |||||||
Conviction holdings
Positions increased for 3+ consecutive quarters.
Share counts are as reported in 13F filings (not split-adjusted)
| Security | Value | % of portfolio | Streak |
|---|---|---|---|
| DFCF | $37,327 | 5.09% | up ×4 |
| QUAL | $34,156 | 4.66% | up ×5 |
| MSFT | $23,567 | 3.22% | up ×3 |
| GOVT | $19,940 | 2.72% | up ×4 |
| HD | $12,141 | 1.66% | up ×6 |
| AAPL | $11,721 | 1.60% | up ×3 |
| DFAX | $11,264 | 1.54% | up ×6 |
| AON | $6,996 | 0.95% | up ×4 |
| V | $4,998 | 0.68% | up ×4 |
| CPRT | $3,736 | 0.51% | up ×4 |
| DFAW | $1,105 | 0.15% | up ×6 |
| SCHG | $594 | 0.08% | up ×6 |
Biggest new bets
New positions opened this quarter, largest first.
| Security | Value | Shares | % of portfolio |
|---|---|---|---|
| TSM | $3,018 | 6,319 | 0.41% |
| WBD | $1,524 | 57,177 | 0.21% |
| MDT | $1,490 | 19,044 | 0.20% |
| NVO | $1,151 | 24,000 | 0.16% |
| IQV | $1,024 | 5,300 | 0.14% |
| BRKA | $749 | 1 | 0.10% |
| CLSK | $634 | 43,572 | 0.09% |
| BRO | $488 | 7,600 | 0.07% |
| FIX | $396 | 200 | 0.05% |
| MSTR | $371 | 4,269 | 0.05% |
| USFD | $327 | 3,200 | 0.04% |
| AOS | $295 | 4,700 | 0.04% |
| VTI | $248 | 670 | 0.03% |
| IWF | $234 | 1,884 | 0.03% |
| VO | $224 | 2,775 | 0.03% |
Top movers (QoQ)
Exited positions
Includes corporate events (mergers, delistings) — not all exits are sells
Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.
| Security | Quarter | Shares before | Value before | Price since exit |
|---|---|---|---|---|
| VOO | March 31, 2026 | 200,000 | $114,000 | No longer tracked |
| MORN | Dec. 31, 2025 | 20,084 | $46,597 | 0.5% |
| AZO | Dec. 31, 2025 | 1,052 | $45,133 | -12.8% |
| BUR | Dec. 31, 2025 | 300,000 | $35,880 | -51.6% |
| AMT | Dec. 31, 2025 | 14,453 | $27,796 | 0.6% |
| EFX | Dec. 31, 2025 | 10,375 | $26,615 | -10.3% |
| MCHI | June 30, 2025 | 238,000 | $12,688 | |
| VTI | June 30, 2025 | 45,000 | $12,150 | No longer tracked |
| MELI | Dec. 31, 2025 | 434 | $10,142 | -3.8% |
| BABA | June 30, 2025 | 75,328 | $9,905 | 7.7% |
| OSCR | Dec. 31, 2025 | 45,000 | $8,519 | 114.5% |
| IAT | March 31, 2025 | 136,000 | $6,800 | No longer tracked |
| BIDU | June 30, 2025 | 60,032 | $5,525 | 8.8% |
| AAP | March 31, 2025 | 109,241 | $5,166 | 10.5% |
| ALLE | June 30, 2025 | 34,076 | $4,446 | 12.3% |
| KWEB | June 30, 2025 | 101,803 | $3,558 | No longer tracked |
| GLD | June 30, 2025 | 10,606 | $3,056 | No longer tracked |
| APA | Dec. 31, 2025 | 12,474 | $3,029 | 81.0% |
| OXY | March 31, 2026 | 73,200 | $3,010 | -5.5% |
| PEP | Sept. 30, 2025 | 17,898 | $2,363 | 1.5% |
| AER | Sept. 30, 2025 | 20,000 | $2,340 | 21.3% |
| IBIT | Dec. 31, 2025 | 3,600 | $2,340 | |
| NBIS | Dec. 31, 2025 | 2,000 | $2,245 | 172.8% |
| PSKY | Dec. 31, 2025 | 10,550 | $1,996 | -22.9% |
| TXN | June 30, 2026 | 9,062 | $1,759 | -11.1% |
| MSCI | March 31, 2026 | 2,910 | $1,670 | 4.8% |
| WFC | March 31, 2026 | 17,164 | $1,600 | 6.3% |
| ADBE | Sept. 30, 2025 | 4,076 | $1,577 | -22.6% |
| KRP | Dec. 31, 2025 | 11,586 | $1,563 | 30.1% |
| OESXXXXX | Dec. 31, 2025 | 17,333 | $1,518 | No longer tracked |
| QCOM | March 31, 2026 | 6,741 | $1,153 | 25.0% |
| KEYS | June 30, 2025 | 7,637 | $1,144 | 93.5% |
| CDW | March 31, 2025 | 6,366 | $1,108 | -17.0% |
| ALGN | March 31, 2025 | 5,233 | $1,091 | 0.0% |
| PARA | March 31, 2025 | 90,900 | $951 | |
| SHV | March 31, 2025 | 6,350 | $699 | |
| RTO | March 31, 2025 | 26,000 | $658 | 3.2% |
| ICLR | March 31, 2026 | 3,300 | $601 | 56.0% |
| ACN | Sept. 30, 2025 | 1,755 | $525 | -26.0% |
| CTVA | June 30, 2026 | 5,767 | $483 | -5.3% |
| VBTX | March 31, 2026 | 9,494 | $367 | No longer tracked |
| Q | June 30, 2026 | 2,897 | $334 | -19.2% |
| CMG | Sept. 30, 2025 | 5,000 | $281 | -8.4% |
| T | June 30, 2026 | 9,265 | $269 | 22.6% |
| DD | June 30, 2026 | 5,795 | $265 | 3.3% |
| EWZ | June 30, 2025 | 10,000 | $260 | No longer tracked |
| VDE | June 30, 2026 | 1,485 | $257 | No longer tracked |
| BA | June 30, 2026 | 1,282 | $255 | -0.9% |
| MSTR | March 31, 2026 | 1,600 | $243 | -3.5% |
| DOW | June 30, 2026 | 5,795 | $241 | 20.0% |
| CVX | June 30, 2025 | 1,392 | $233 | 44.3% |
| EPD | June 30, 2026 | 6,092 | $231 | 4.7% |
| DIS | Sept. 30, 2025 | 1,739 | $216 | -6.4% |
| EOG | Sept. 30, 2025 | 1,746 | $209 | 36.2% |
| IWC | March 31, 2025 | 1,600 | $209 | No longer tracked |
| OKE | March 31, 2025 | 2,045 | $205 | -4.5% |
| SLV | June 30, 2026 | 3,000 | $204 | No longer tracked |
| KMI | June 30, 2026 | 6,064 | $203 | -1.3% |
| DOW | June 30, 2025 | 5,795 | $202 | 24.0% |
| DVN | March 31, 2026 | 5,500 | $201 | -2.4% |
| BSM | March 31, 2026 | 12,911 | $172 | -1.8% |
| MESA | March 31, 2025 | 145,607 | $169 | No longer tracked |
| CRGY | March 31, 2026 | 17,273 | $145 | 3.4% |
| REE | June 30, 2025 | 46,666 | $124 | No longer tracked |
| RIG | March 31, 2026 | 16,600 | $69 | -9.0% |
| APTOXXXX | March 31, 2025 | 26,666 | $6 | No longer tracked |