SEC 13F Intelligence

Managers / Q3 2021 · view latest →

Annandale Capital, LLC

CIK 0001811739 · 2626 COLE AVENUE, SUITE 700, DALLAS, TX, 75204 · 2145235000

Reported Value
$166M
Q3 2021
Positions
85
Filings on Record
23
2019–present window
Filed
Nov 15, 2021
original filing

Summary

Annandale Capital, LLC reported $166M in U.S.-listed holdings across 85 positions for Q3 2021.

Its largest position, MBB, represents 14.9% of the portfolio.

Compared with Q2 2021, the fund opened 7 new positions and exited 5.

Portfolio Metrics

Turnover
+10.0%
vs prior filed quarter
Top-10 Concentration
+55.1%
share of reported value
Largest Position
+14.9%
Ishares Tr
New / Exited
7 / 5
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’20: $120MQ4 ’20Q1 ’21: $141MQ2 ’21: $166MQ3 ’21: $166MQ3 ’21Q4 ’21: $227MQ1 ’22: $253MQ2 ’22: $253MQ2 ’22Q3 ’22: $271MQ1 ’23: $316,563Q2 ’23: $346,036Q2 ’23Q3 ’23: $401,480Q4 ’23: $530,476Q1 ’24: $543,265Q1 ’24Q2 ’24: $584,792Q3 ’24: $713,758Q4 ’24: $630,939Q4 ’24Q1 ’25: $2MQ2 ’25: $1MQ3 ’25: $6MQ3 ’25Q4 ’25: $843,087Q1 ’26: $708,835filingsflow.com

Portfolio Composition

By security type
Common Stock: 54.9%ETP: 36.1%MLP: 5.5%ADR: 1.6%Ltd Part: 0.8%Other: 1.0%
  • Common Stock · 54.9% · $91M
  • ETP · 36.1% · $60M
  • MLP · 5.5% · $9M
  • ADR · 1.6% · $3M
  • Ltd Part · 0.8% · $1M
  • Other · 1.0% · $2M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2021 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
MLPXGLOBAL X FDSNEW+208.7K208.7K+$7M$7M
PAGPPLAINS GP HLDGS L PNEW+129.5K129.5K+$1M$1M
SABRSABRE CORPNEW+114.4K114.4K+$1M$1M
KEYKEYCORPNEW+35.7K35.7K+$772,000$772,000
RMNIRIMINI STR INC DELNEW+33.3K33.3K+$321,000$321,000
HOGHARLEY DAVIDSON INCNEW+7.8K7.8K+$286,000$286,000
AIGAMERICAN INTL GROUP INCNEW+4.0K4.0K+$220,000$220,000
BABAALIBABA GROUP HLDG LTDADDED+8.4K15.2K+$708,000$2M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q3 2021

77 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1MBBISHARES TRMBS ETF · MSCI EAFE ETF · MSCI EMG MKT ETF · SHORT TREAS BD · 1 3 YR TREAS BD · RUSSELL 2000 ETF14.93%$25M266.8K
2VYMVANGUARD WHITEHALL FDSHIGH DIV YLD · INTL HIGH ETF8.04%$13M130.8K
3MSFTMICROSOFT CORPhistory →COM4.91%$8M29.0K
4AAPLAPPLE INChistory →COM4.56%$8M53.5K
5MLPXGLOBAL X FDShistory →GLB X MLP ENRG I4.51%$7M208.7K
6SPYSPDR S&P 500 ETF TRhistory →TR UNIT4.15%$7M16.1K
7ARANTERO RESOURCES CORPhistory →COM3.84%$6M339.5K
8BRK/BBERKSHIRE HATHAWAY INC DELhistory →CL B NEW3.69%$6M22.5K
9HDHOME DEPOT INChistory →COM3.36%$6M17.0K
10CSCOCISCO SYS INChistory →COM3.06%$5M93.5K
11AMANTERO MIDSTREAM CORPhistory →COM3.03%$5M483.0K
12KMIKINDER MORGAN INC DELhistory →COM2.48%$4M246.3K
13WMTWALMART INChistory →COM2.45%$4M29.2K
14GLDSPDR GOLD TRhistory →GOLD SHS2.04%$3M20.6K
15BSVVANGUARD BD INDEX FDShistory →SHORT TRM BOND1.92%$3M39.0K
16JNJJOHNSON & JOHNSONhistory →COM1.86%$3M19.2K
17EPDENTERPRISE PRODS PARTNERS Lhistory →COM1.70%$3M130.7K
18GOOGLALPHABET INCCAP STK CL A · CAP STK CL C1.49%$2M926
19BABAALIBABA GROUP HLDG LTDhistory →SPONSORED ADS1.36%$2M15.2K
20METAFACEBOOK INChistory →CL A1.24%$2M6.1K
21MAGELLAN MIDSTREAM PRTNRS LPCOM UNIT RP LP1.20%$2M43.7K
22MTBM & T BK CORPhistory →COM1.10%$2M12.2K
23ETENERGY TRANSFER LPCOM UT LTD PTN0.98%$2M170.6K
24ACGLARCH CAP GROUP LTDORD0.95%$2M41.5K
25WMBWILLIAMS COS INCCOM0.90%$1M57.4K
26URGNUROGEN PHARMA LTDCOM0.87%$1M86.3K
27PAGPPLAINS GP HLDGS L PLTD PARTNR INT A0.84%$1M129.5K
28HOLLY ENERGY PARTNERS L PCOM UT LTD PTN0.84%$1M76.0K
29SABRSABRE CORPCOM0.82%$1M114.4K
30JPMJPMORGAN CHASE & COCOM · ALERIAN ML ETN0.79%$1M39.6K
31VRSKVERISK ANALYTICS INCCOM0.75%$1M6.2K
32BACBK OF AMERICA CORPCOM0.71%$1M27.9K
33BKNGBOOKING HOLDINGS INCCOM0.71%$1M497
34DGDOLLAR GEN CORP NEWCOM0.67%$1M5.3K
35PBAPEMBINA PIPELINE CORPCOM0.66%$1M34.4K
36MPLXMPLX LPCOM UNIT REP LTD0.66%$1M38.3K
37PGRPROGRESSIVE CORPCOM0.64%$1M11.8K
38INTCINTEL CORPCOM0.61%$1M18.9K
39CHECHEMED CORP NEWCOM0.59%$972,0002.1K
40DLTRDOLLAR TREE INCCOM0.58%$971,00010.1K
41SBACSBA COMMUNICATIONS CORP NEWCL A0.56%$926,0002.8K
42GDDYGODADDY INCCL A0.55%$920,00013.2K
43MPCMARATHON PETE CORPCOM0.54%$902,00014.6K
44MKLMARKEL CORPCOM0.51%$849,000710
45YUSDALLEGHANY CORP DELCOM0.49%$809,0001.3K
46KEYKEYCORPCOM0.46%$772,00035.7K
47WRBBERKLEY W R CORPCOM0.43%$718,0009.8K
48CSWCSW INDUSTRIALS INCCOM0.41%$681,0005.3K
49MMM3M COCOM0.32%$526,0003.0K
50INGRINGREDION INCCOM0.32%$526,0005.9K
51WFCWELLS FARGO CO NEWCOM0.30%$501,00010.8K
52PFEPFIZER INCCOM0.30%$494,00011.5K
53ABBVABBVIE INCCOM0.27%$451,0004.2K
54CBOECBOE GLOBAL MKTS INCCOM0.25%$413,0003.3K
55MRKMERCK & CO. INCCOM0.23%$390,0005.2K
56CERNER CORPCOM0.23%$388,0005.5K
57SPGIS&P GLOBAL INCCOM0.23%$383,000902
58QURATE RETAIL INCCOM SER A0.23%$377,00037.0K
59ABTABBOTT LABSCOM0.22%$368,0003.1K
60QCOMQUALCOMM INCCOM0.22%$364,0002.8K
61EXMOCEXXON MOBIL CORPCOM0.21%$350,0006.0K
62RMNIRIMINI STR INC DELCOM0.19%$321,00033.3K
63AONAON PLCSHS CL A0.19%$321,0001.1K
64GENERAL ELECTRIC COCOM0.19%$315,0003.1K
65HOGHARLEY DAVIDSON INCCOM0.17%$286,0007.8K
66DFATDIMENSIONAL ETF TRUSTUS TARGETED VLU0.16%$274,0006.2K
67UNILEVER PLCSPON ADR NEW0.16%$269,0005.0K
68ITRNITURAN LOCATION AND CONTROLSHS0.15%$254,00010.0K
69AMZNAMAZON COM INCCOM0.15%$253,00077
70SUSUNCOR ENERGY INC NEWCOM0.14%$232,00011.2K
71AIGAMERICAN INTL GROUP INCCOM NEW0.13%$220,0004.0K
72REDHILL BIOPHARMA LTDSPONSORED ADS0.12%$199,00043.5K
73BCSBARCLAYS PLCADR0.11%$175,00016.9K
74ENERPLUS CORPCOM0.10%$163,00020.4K
75BSMBLACK STONE MINERALS L PCOM UNIT0.09%$153,00012.7K
76KRPKIMBELL RTY PARTNERS LPCOM0.09%$148,00010.5K
77PAAPLAINS ALL AMERN PIPELINE LUNIT LTD PARTN0.07%$114,00011.2K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$708,835121May 15, 202613F-HRchanges · EDGAR ↗
Q4 2025$843,087127Feb 12, 202613F-HRchanges · EDGAR ↗
Q3 2025$6M124Nov 13, 202513F-HRchanges · EDGAR ↗
Q2 2025$1M124Aug 13, 202513F-HRchanges · EDGAR ↗
Q1 2025$2M127May 13, 202513F-HRchanges · EDGAR ↗
Q4 2024$630,939128Feb 13, 202513F-HRchanges · EDGAR ↗
Q3 2024$713,758128Nov 12, 202413F-HRchanges · EDGAR ↗
Q2 2024$584,792121Aug 15, 202413F-HRchanges · EDGAR ↗
Q1 2024$543,265135May 15, 202413F-HRchanges · EDGAR ↗
Q4 2023$530,476138Feb 14, 202413F-HRchanges · EDGAR ↗
Q3 2023$401,480137Nov 15, 202313F-HRchanges · EDGAR ↗
Q2 2023$346,036138Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$316,563135May 15, 202313F-HRchanges · EDGAR ↗
Q4 2022Under review136Feb 15, 202313F-HRchanges · EDGAR ↗
Q3 2022$271M134Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$253M127Aug 15, 202213F-HRchanges · EDGAR ↗
Q1 2022$253M112May 12, 202213F-HRchanges · EDGAR ↗
Q4 2021$227M112Feb 11, 202213F-HRchanges · EDGAR ↗
Q3 2021$166M85Nov 15, 202113F-HRchanges · EDGAR ↗
Q2 2021$166M84Aug 17, 202113F-HRchanges · EDGAR ↗
Q1 2021$141M70May 14, 202113F-HRchanges · EDGAR ↗
Q4 2020$120M58Feb 10, 2021RESTATEMENTchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.