# Annandale Capital, LLC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1811739. Source: https://holderbook.com/funds/1811739-annandale-capital-llc/

- Reported value: $732.8M
- Positions: 125
- Weight of the ten largest: 49.1%
- Filed: 2026-08-13

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $61.5M | 30,170 | 8.4% | 23 |
| VANGUARD BD INDEX FDS | [BSV](https://holderbook.com/stocks/BSV/) | $43.4M | 556,851 | 5.9% | 23 |
| DIMENSIONAL ETF TRUST | [DFAI](https://holderbook.com/stocks/DFAI/) | $41.6M | 1,007,698 | 5.7% | 16 |
| DIMENSIONAL ETF TRUST | [DCOR](https://holderbook.com/stocks/DCOR/) | $41.3M | 503,749 | 5.6% | 11 |
| DIMENSIONAL ETF TRUST | [DFCF](https://holderbook.com/stocks/DFCF/) | $37.3M | 884,325 | 5.1% | 11 |
| ISHARES TR | [QUAL](https://holderbook.com/stocks/QUAL/) | $34.2M | 155,660 | 4.7% | 16 |
| DIMENSIONAL ETF TRUST | [DFAE](https://holderbook.com/stocks/DFAE/) | $28.0M | 697,284 | 3.8% | 16 |
| VANGUARD WHITEHALL FDS | [VYM](https://holderbook.com/stocks/VYM/) | $26.1M | 164,994 | 3.6% | 23 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $23.6M | 63,180 | 3.2% | 23 |
| ISHARES TR | [EEM](https://holderbook.com/stocks/EEM/) | $23.1M | 210,809 | 3.2% | 23 |
| ISHARES TR | [GOVT](https://holderbook.com/stocks/GOVT/) | $19.9M | 875,351 | 2.7% | 16 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $13.7M | 24,354 | 1.9% | 21 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $13.5M | 27,067 | 1.8% | 23 |
| ISHARES TR | [IWM](https://holderbook.com/stocks/IWM/) | $13.4M | 11,400 | 1.8% | 6 |
| GLOBAL X FDS | [MLPX](https://holderbook.com/stocks/MLPX/) | $12.6M | 171,649 | 1.7% | 20 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $12.6M | 52,769 | 1.7% | 23 |
| AMERICAN CENTY ETF TR | [AVUS](https://holderbook.com/stocks/AVUS/) | $12.1M | 94,819 | 1.7% | 11 |
| HOME DEPOT INC | [HD](https://holderbook.com/stocks/HD/) | $12.1M | 34,424 | 1.7% | 23 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $11.7M | 40,508 | 1.6% | 23 |
| DIMENSIONAL ETF TRUST | [DFAX](https://holderbook.com/stocks/DFAX/) | $11.3M | 305,764 | 1.5% | 10 |
| VANGUARD SCOTTSDALE FDS | [VGSH](https://holderbook.com/stocks/VGSH/) | $9.6M | 164,553 | 1.3% | 2 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $9.3M | 81,779 | 1.3% | 23 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $9.0M | 25,274 | 1.2% | 21 |
| DIMENSIONAL ETF TRUST | [DFAT](https://holderbook.com/stocks/DFAT/) | $9.0M | 128,199 | 1.2% | 21 |
| AMERICAN CENTY ETF TR | [AVDE](https://holderbook.com/stocks/AVDE/) | $8.5M | 95,262 | 1.2% | 11 |
| UBER TECHNOLOGIES INC | [UBER](https://holderbook.com/stocks/UBER/) | $7.8M | 108,113 | 1.1% | 6 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $7.4M | 21,066 | 1.0% | 23 |
| PROGRESSIVE CORP | [PGR](https://holderbook.com/stocks/PGR/) | $7.2M | 32,794 | 1.0% | 22 |
| ABBVIE INC | [ABBV](https://holderbook.com/stocks/ABBV/) | $7.1M | 28,032 | 1.0% | 23 |
| AON PLC | [AON](https://holderbook.com/stocks/AON/) | $7.0M | 21,091 | 1.0% | 23 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $7.0M | 34,841 | 1.0% | 11 |
| DIMENSIONAL ETF TRUST | [DFUV](https://holderbook.com/stocks/DFUV/) | $6.9M | 125,272 | 0.9% | 17 |
| ENERGY TRANSFER L P | [ET](https://holderbook.com/stocks/ET/) | $6.7M | 348,462 | 0.9% | 23 |
| CISCO SYS INC | [CSCO](https://holderbook.com/stocks/CSCO/) | $6.6M | 55,815 | 0.9% | 23 |
| ARCH CAP GROUP LTD | [ACGL](https://holderbook.com/stocks/ACGL/) | $6.0M | 61,870 | 0.8% | 22 |
| NETFLIX INC | [NFLX](https://holderbook.com/stocks/NFLX/) | $5.9M | 82,719 | 0.8% | 18 |
| FIRST AMERN FINL CORP | [FAF](https://holderbook.com/stocks/FAF/) | $5.3M | 77,855 | 0.7% | 11 |
| JOHNSON & JOHNSON | [JNJ](https://holderbook.com/stocks/JNJ/) | $5.3M | 20,987 | 0.7% | 23 |
| SPDR SERIES TRUST | [KRE](https://holderbook.com/stocks/KRE/) | $5.2M | 69,300 | 0.7% | 13 |
| VISA INC | [V](https://holderbook.com/stocks/V/) | $5.0M | 14,568 | 0.7% | 19 |
| AMERICAN CENTY ETF TR | [AVEM](https://holderbook.com/stocks/AVEM/) | $5.0M | 51,594 | 0.7% | 11 |
| ABBOTT LABORATORIES | [ABT](https://holderbook.com/stocks/ABT/) | $4.1M | 44,814 | 0.6% | 23 |
| COPART INC | [CPRT](https://holderbook.com/stocks/CPRT/) | $3.7M | 132,542 | 0.5% | 19 |
| PROFESIONALLY MANAGED PORTFO | [AKRE](https://holderbook.com/stocks/AKRE/) | $3.4M | 63,218 | 0.5% | 3 |
| SCHWAB CHARLES CORP | [SCHW](https://holderbook.com/stocks/SCHW/) | $3.3M | 35,848 | 0.5% | 19 |
| FIRST CTZNS BANCSHARES INC D | [FCNCA](https://holderbook.com/stocks/FCNCA/) | $3.2M | 1,530 | 0.4% | 4 |
| TAIWAN SEMICONDUCTOR MANUFAC | [TSM](https://holderbook.com/stocks/TSM/) | $3.0M | 6,319 | 0.4% | 1 |
| BOOKING HOLDINGS INC | [BKNG](https://holderbook.com/stocks/BKNG/) | $2.9M | 16,325 | 0.4% | 23 |
| THERMO FISHER SCIENTIFIC INC | [TMO](https://holderbook.com/stocks/TMO/) | $2.7M | 5,452 | 0.4% | 5 |
| KEURIG DR PEPPER INC | [KDP](https://holderbook.com/stocks/KDP/) | $2.7M | 81,958 | 0.4% | 3 |
| ISHARES TR | [EFA](https://holderbook.com/stocks/EFA/) | $2.6M | 25,113 | 0.4% | 23 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $2.6M | 7,842 | 0.4% | 10 |
| BERKLEY W R CORP | [WRB](https://holderbook.com/stocks/WRB/) | $2.6M | 36,279 | 0.3% | 13 |
| NATURAL RESOURCE PARTNERS LP | [NRP](https://holderbook.com/stocks/NRP/) | $2.5M | 26,207 | 0.3% | 4 |
| BECTON DICKINSON & CO | [BDX](https://holderbook.com/stocks/BDX/) | $2.4M | 15,961 | 0.3% | 3 |
| ONEOK INC NEW | [OKE](https://holderbook.com/stocks/OKE/) | $2.4M | 27,587 | 0.3% | 3 |
| UNION PAC CORP | [UNP](https://holderbook.com/stocks/UNP/) | $2.1M | 7,610 | 0.3% | 14 |
| MARKEL GROUP INC | [MKL](https://holderbook.com/stocks/MKL/) | $2.0M | 1,012 | 0.3% | 22 |
| MARSH & MCLENNAN COS INC | [MRSH](https://holderbook.com/stocks/MRSH/) | $1.9M | 12,480 | 0.3% | 5 |
| INTERCONTINENTAL EXCHANGE IN | [ICE](https://holderbook.com/stocks/ICE/) | $1.9M | 15,188 | 0.3% | 16 |
| UROGEN PHARMA LTD | [URGN](https://holderbook.com/stocks/URGN/) | $1.7M | 45,425 | 0.2% | 23 |
| APOLLO GLOBAL MGMT INC | [APO](https://holderbook.com/stocks/APO/) | $1.6M | 13,860 | 0.2% | 2 |
| S&P GLOBAL INC | [SPGI](https://holderbook.com/stocks/SPGI/) | $1.5M | 3,777 | 0.2% | 2 |
| KKR & CO INC | [KKR](https://holderbook.com/stocks/KKR/) | $1.5M | 16,650 | 0.2% | 2 |
| WARNER BROS DISCOVERY INC | [WBD](https://holderbook.com/stocks/WBD/) | $1.5M | 57,177 | 0.2% | 1 |
| DANAHER CORP DEL | [DHR](https://holderbook.com/stocks/DHR/) | $1.5M | 7,827 | 0.2% | 5 |
| MEDTRONIC PLC | [MDT](https://holderbook.com/stocks/MDT/) | $1.5M | 19,044 | 0.2% | 1 |
| WATSCO INC | [WSO](https://holderbook.com/stocks/WSO/) | $1.5M | 3,516 | 0.2% | 16 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $1.4M | 11,035 | 0.2% | 23 |
| KINGSWAY CORP | [KWY](https://holderbook.com/stocks/KWY/) | $1.3M | 128,200 | 0.2% | 11 |
| NOVO-NORDISK A S | [NVO](https://holderbook.com/stocks/NVO/) | $1.2M | 24,000 | 0.2% | 1 |
| GLOO HOLDINGS INC | [GLOO](https://holderbook.com/stocks/GLOO/) | $1.1M | 250,000 | 0.2% | 3 |
| VERISK ANALYTICS INC | [VRSK](https://holderbook.com/stocks/VRSK/) | $1.1M | 6,299 | 0.2% | 21 |
| VANGUARD INDEX FDS | [VTV](https://holderbook.com/stocks/VTV/) | $1.1M | 5,187 | 0.2% | 14 |
| DIMENSIONAL ETF TRUST | [DFAW](https://holderbook.com/stocks/DFAW/) | $1.1M | 13,349 | 0.2% | 7 |
| IQVIA HLDGS INC | [IQV](https://holderbook.com/stocks/IQV/) | $1.0M | 5,300 | 0.1% | 1 |
| ANTERO RESOURCES CORP | [AR](https://holderbook.com/stocks/AR/) | $930.0K | 26,464 | 0.1% | 23 |
| ISHARES TR | [IVW](https://holderbook.com/stocks/IVW/) | $882.0K | 6,412 | 0.1% | 14 |
| MEDPACE HLDGS INC | [MEDP](https://holderbook.com/stocks/MEDP/) | $847.0K | 1,600 | 0.1% | 5 |
| ISHARES TR | [ACWI](https://holderbook.com/stocks/ACWI/) | $816.0K | 5,200 | 0.1% | 7 |
| CSW INDUSTRIALS INC | [CSW](https://holderbook.com/stocks/CSW/) | $757.0K | 2,721 | 0.1% | 23 |
| BERKSHIRE HATHAWAY INC DEL | [BRKA](https://holderbook.com/stocks/BRKA/) | $749.0K | 1 | 0.1% | 1 |
| ISHARES TR | [MBB](https://holderbook.com/stocks/MBB/) | $656.0K | 6,939 | 0.1% | 14 |
| CLEANSPARK INC | [CLSK](https://holderbook.com/stocks/CLSK/) | $634.0K | 43,572 | 0.1% | 1 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $621.0K | 829 | 0.1% | 10 |
| DIMENSIONAL ETF TRUST | [DFAU](https://holderbook.com/stocks/DFAU/) | $617.0K | 11,932 | 0.1% | 11 |
| TESLA INC | [TSLA](https://holderbook.com/stocks/TSLA/) | $599.0K | 1,424 | 0.1% | 3 |
| SCHWAB STRATEGIC TR | [SCHG](https://holderbook.com/stocks/SCHG/) | $594.0K | 17,546 | 0.1% | 9 |
| DELL TECHNOLOGIES INC | [DELL](https://holderbook.com/stocks/DELL/) | $541.0K | 1,253 | 0.1% | 3 |
| BROWN & BROWN INC | [BRO](https://holderbook.com/stocks/BRO/) | $488.0K | 7,600 | 0.1% | 1 |
| VANGUARD STAR FDS | [VXUS](https://holderbook.com/stocks/VXUS/) | $487.0K | 5,700 | 0.1% | 9 |
| SCHWAB STRATEGIC TR | [FNDA](https://holderbook.com/stocks/FNDA/) | $480.0K | 12,600 | 0.1% | 9 |
| THE CENTRAL AND EASTERN EU I | [CEE](https://holderbook.com/stocks/CEE/) | $430.0K | 20,928 | 0.1% | 16 |
| STATE STR SPDR DOW JONES IND | [DIA](https://holderbook.com/stocks/DIA/) | $425.0K | 813 | 0.1% | 5 |
| SCHWAB STRATEGIC TR | [FNDC](https://holderbook.com/stocks/FNDC/) | $415.0K | 8,550 | 0.1% | 9 |
| PLAINS ALL AMERN PIPELINE L | [PAA](https://holderbook.com/stocks/PAA/) | $404.0K | 18,153 | 0.1% | 23 |
| COMFORT SYS USA INC | [FIX](https://holderbook.com/stocks/FIX/) | $396.0K | 200 | 0.1% | 1 |
| VANGUARD INDEX FDS | [VBR](https://holderbook.com/stocks/VBR/) | $395.0K | 1,625 | 0.1% | 9 |
| ISHARES TR | [IWN](https://holderbook.com/stocks/IWN/) | $373.0K | 1,684 | 0.1% | 11 |
| STRATEGY INC | [MSTR](https://holderbook.com/stocks/MSTR/) | $371.0K | 4,269 | 0.1% | 1 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +7.0% | +14.8% | -7.8% | 86% |
| Q1 2026 | -1.0% | -4.6% | +3.6% | 84% |
| Q1 2025 | +1.1% | -4.6% | +5.7% | 83% |
| Q4 2024 | +0.8% | +2.1% | -1.3% | 98% |
| Q3 2024 | +5.6% | +5.4% | +0.2% | 100% |
| Q2 2024 | +0.4% | +4.0% | -3.7% | 81% |
| Q1 2024 | +8.9% | +10.0% | -1.2% | 81% |
| Q4 2023 | +7.0% | +11.2% | -4.2% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $732.8M | 125 |
| Q1 2026 | $708.8M | 118 |
| Q4 2025 | $843.1M | 122 |
| Q3 2025 | $5.9B | 121 |
| Q2 2025 | $1.3B | 118 |
| Q1 2025 | $1.6B | 116 |
| Q4 2024 | $630.9M | 122 |
| Q3 2024 | $713.8M | 127 |
| Q2 2024 | $584.8M | 121 |
| Q1 2024 | $543.3M | 128 |
| Q4 2023 | $530.5M | 129 |
| Q3 2023 | $401.5M | 136 |