SEC 13F Intelligence

Managers / Q1 2022 · view latest →

Annandale Capital, LLC

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

Reported Value
$253M
Q1 2022
Positions
112
Filings on Record
23
2019–present window
Filed
May 12, 2022
original filing

Summary

Annandale Capital, LLC reported $253M in U.S.-listed holdings across 112 positions for Q1 2022.

Its largest position, MBB, represents 10.0% of the portfolio.

Compared with Q4 2021, the fund opened 9 new positions and exited 9.

Portfolio Metrics

Turnover
+10.1%
vs prior filed quarter
Top-10 Concentration
+48.4%
share of reported value
Largest Position
+10.0%
Ishares Tr
New / Exited
9 / 9
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: $317MQ2 ’23: $346MQ2 ’23Q3 ’23: $401MQ4 ’23: $530MQ1 ’24: $543MQ1 ’24Q2 ’24: $585MQ3 ’24: $714MQ4 ’24: $631MQ4 ’24Q1 ’25: $1.6BQ2 ’25: $1.3BQ3 ’25: $6MQ3 ’25Q4 ’25: $843MQ1 ’26: $709Mfilingsflow.com

Portfolio Composition

By security type
Common Stock: 60.7%ETP: 26.2%MLP: 8.7%ADR: 1.9%Ltd Part: 1.0%Other: 1.5%
  • Common Stock · 60.7% · $154M
  • ETP · 26.2% · $66M
  • MLP · 8.7% · $22M
  • ADR · 1.9% · $5M
  • Ltd Part · 1.0% · $3M
  • Other · 1.5% · $4M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2021 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
UNITED STATES STL CORP NEWNEW+50.0K50.0K+$2M$2M
NFLXNETFLIX INCNEW+3.1K3.1K+$1M$1M
ADBEADOBE SYSTEMS INCORPORATEDNEW+2.4K2.4K+$1M$1M
PYPLPAYPAL HLDGS INCNEW+7.2K7.2K+$836,000$836,000
ROKUROKU INCNEW+5.3K5.3K+$664,000$664,000
IEIISHARES TRNEW+4.9K4.9K+$600,000$600,000
APTOSE BIOSCIENCES INCNEW+200.0K200.0K+$272,000$272,000
EQTEQT CORPNEW+7.0K7.0K+$240,000$240,000

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

Holdings — Q1 2022

103 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1MBBISHARES TRMBS ETF · MSCI EAFE ETF · MSCI EMG MKT ETF · SHORT TREAS BD · 3 7 YR TREAS BD · RUS 2000 VAL ETF · 1 3 YR TREAS BD10.04%$25M284.8K
2ARANTERO RESOURCES CORPhistory →COM9.49%$24M786.9K
3VYMVANGUARD WHITEHALL FDSHIGH DIV YLD · INTL HIGH ETF6.16%$16M140.6K
4MLPXGLOBAL X FDShistory →GLB X MLP ENRG I4.18%$11M247.7K
5ETENERGY TRANSFER LPhistory →COM UT LTD PTN3.64%$9M823.3K
6BRK/BBERKSHIRE HATHAWAY INC DELhistory →CL B NEW3.50%$9M25.1K
7KMIKINDER MORGAN INC DELhistory →COM3.18%$8M425.4K
8MSFTMICROSOFT CORPhistory →COM2.89%$7M23.7K
9SPYSPDR S&P 500 ETF TRhistory →TR UNIT2.85%$7M16.0K
10METAFACEBOOK INChistory →CL A2.48%$6M28.3K
11ACTIVISION BLIZZARD INCCOM2.29%$6M72.3K
12CSCOCISCO SYS INChistory →COM2.00%$5M90.9K
13MAGELLAN MIDSTREAM PRTNRS LPCOM UNIT RP LP1.91%$5M98.4K
14INTCINTEL CORPhistory →COM1.88%$5M96.3K
15HDHOME DEPOT INChistory →COM1.85%$5M15.6K
16SABRSABRE CORPhistory →COM1.81%$5M401.8K
17EPDENTERPRISE PRODS PARTNERS Lhistory →COM1.79%$5M175.8K
18WMTWALMART INChistory →COM1.69%$4M28.7K
19GOOGLALPHABET INCCAP STK CL A · CAP STK CL C1.58%$4M1.4K
20YUSDALLEGHANY CORP DELhistory →COM1.55%$4M4.6K
21AAPLAPPLE INChistory →COM1.52%$4M22.0K
22ACGLARCH CAP GROUP LTDhistory →ORD1.40%$4M73.0K
23GLDSPDR GOLD TRhistory →GOLD SHS1.38%$4M19.4K
24PGRPROGRESSIVE CORPhistory →COM1.32%$3M29.2K
25JNJJOHNSON & JOHNSONhistory →COM1.29%$3M18.5K
26BSVVANGUARD BD INDEX FDShistory →SHORT TRM BOND1.13%$3M36.6K
27BABAALIBABA GROUP HLDG LTDhistory →SPONSORED ADS1.12%$3M26.0K
28PAGPPLAINS GP HLDGS L Phistory →LTD PARTNR INT A1.03%$3M225.2K
29MTBM & T BK CORPCOM0.92%$2M13.8K
30MKLMARKEL CORPCOM0.82%$2M1.4K
31UNITED STATES STL CORP NEWCOM0.75%$2M50.0K
32COPCONOCOPHILLIPSCOM0.73%$2M18.6K
33ENSTAR GROUP LIMITEDSHS0.70%$2M6.8K
34EBAYEBAY INC.COM0.70%$2M30.8K
35BBLBHP GROUP PLCSPONSORED ADR0.65%$2M21.3K
36MMM3M COCOM0.64%$2M10.9K
37VRSKVERISK ANALYTICS INCCOM0.63%$2M7.4K
38KHCKRAFT HEINZ COCOM0.63%$2M40.4K
39BKNGBOOKING HOLDINGS INCCOM0.58%$1M620
40AMANTERO MIDSTREAM CORPCOM0.54%$1M125.6K
41HOLLY ENERGY PARTNERS L PCOM UT LTD PTN0.53%$1M76.0K
42MPLXMPLX LPCOM UNIT REP LTD0.50%$1M38.3K
43FISVFISERV INCCOM0.49%$1M12.3K
44MPCMARATHON PETE CORPCOM0.49%$1M14.6K
45BLACK KNIGHT INCCOM0.48%$1M21.0K
46NFLXNETFLIX INCCOM0.46%$1M3.1K
47WRBBERKLEY W R CORPCOM0.45%$1M17.3K
48BACBK OF AMERICA CORPCOM0.45%$1M27.9K
49CDWCDW CORPCOM0.45%$1M6.4K
50JPMJPMORGAN CHASE & COALERIAN ML ETN · COM0.44%$1M31.0K
51ADBEADOBE SYSTEMS INCORPORATEDCOM0.43%$1M2.4K
52CHECHEMED CORP NEWCOM0.41%$1M2.0K
53CPRTCOPART INCCOM0.41%$1M8.2K
54WMBWILLIAMS COS INCCOM0.39%$988,00029.6K
55SBACSBA COMMUNICATIONS CORP NEWCL A0.38%$963,0002.8K
56GDDYGODADDY INCCL A0.37%$946,00011.3K
57KEYKEYCORPCOM0.37%$924,00041.3K
58FISFIDELITY NATL INFORMATION SVCOM0.34%$862,0008.6K
59PYPLPAYPAL HLDGS INCCOM0.33%$836,0007.2K
60URGNUROGEN PHARMA LTDCOM0.29%$735,00084.3K
61VVISA INCCOM CL A0.27%$684,0003.1K
62PAAPLAINS ALL AMERN PIPELINE LUNIT LTD PARTN0.27%$681,00063.3K
63ABBVABBVIE INCCOM0.27%$677,0004.2K
64ROKUROKU INCCOM CL A0.26%$664,0005.3K
65CSWCSW INDUSTRIALS INCCOM0.25%$627,0005.3K
66TSNTYSON FOODS INCCL A0.24%$609,0006.8K
67CBOECBOE GLOBAL MKTS INCCOM0.24%$596,0005.2K
68EOGEOG RES INCCOM0.21%$537,0004.5K
69WFCWELLS FARGO CO NEWCOM0.21%$523,00010.8K
70QURATE RETAIL INCCOM SER A0.21%$519,000109.1K
71INGRINGREDION INCCOM0.20%$515,0005.9K
72EXMOCEXXON MOBIL CORPCOM0.19%$477,0005.8K
73PEPPEPSICO INCCOM0.17%$440,0002.6K
74PIONEER NAT RES COCOM0.17%$429,0001.7K
75MRKMERCK & CO. INCCOM0.17%$426,0005.2K
76AMZNAMAZON COM INCCOM0.16%$414,000127
77AIGAMERICAN INTL GROUP INCCOM NEW0.16%$396,0006.3K
78QCOMQUALCOMM INCCOM0.15%$382,0002.5K
79SPGIS&P GLOBAL INCCOM0.15%$374,000913
80AONAON PLCSHS CL A0.14%$366,0001.1K
81SUSUNCOR ENERGY INC NEWCOM0.14%$365,00011.2K
82LKQLKQ CORPCOM0.13%$336,0007.4K
83ABTABBOTT LABSCOM0.13%$320,0002.7K
84DFATDIMENSIONAL ETF TRUSTUS TARGETED VLU0.12%$306,0006.6K
85DISDISNEY WALT COCOM0.12%$295,0002.2K
86PFEPFIZER INCCOM0.11%$282,0005.4K
87GENERAL ELECTRIC COCOM0.11%$280,0003.1K
88APTOSE BIOSCIENCES INCCOM NEW0.11%$272,000200.0K
89DLTRDOLLAR TREE INCCOM0.10%$264,0001.6K
90HOGHARLEY DAVIDSON INCCOM0.10%$260,0006.6K
91ENERPLUS CORPCOM0.10%$259,00020.4K
92BCSBARCLAYS PLCADR0.10%$243,00030.8K
93EQTEQT CORPCOM0.09%$240,0007.0K
94ITRNITURAN LOCATION AND CONTROLSHS0.09%$230,00010.0K
95VTVANGUARD INTL EQUITY INDEX FTT WRLD ST ETF0.09%$227,0002.2K
96UNILEVER PLCSPON ADR NEW0.09%$217,0004.8K
97CCITIGROUP INCCOM NEW0.09%$217,0004.1K
98SCHWSCHWAB CHARLES CORPCOM0.08%$205,0002.4K
99BSMBLACK STONE MINERALS L PCOM UNIT0.07%$171,00012.7K
100KRPKIMBELL RTY PARTNERS LPCOM0.07%$170,00010.5K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$709M121May 15, 202613F-HRchanges · EDGAR ↗
Q4 2025$843M127Feb 12, 202613F-HRchanges · EDGAR ↗
Q3 2025$6M124Nov 13, 202513F-HRchanges · EDGAR ↗
Q2 2025$1.3B124Aug 13, 202513F-HRchanges · EDGAR ↗
Q1 2025$1.6B127May 13, 202513F-HRchanges · EDGAR ↗
Q4 2024$631M128Feb 13, 202513F-HRchanges · EDGAR ↗
Q3 2024$714M128Nov 12, 202413F-HRchanges · EDGAR ↗
Q2 2024$585M121Aug 15, 202413F-HRchanges · EDGAR ↗
Q1 2024$543M135May 15, 202413F-HRchanges · EDGAR ↗
Q4 2023$530M138Feb 14, 202413F-HRchanges · EDGAR ↗
Q3 2023$401M137Nov 15, 202313F-HRchanges · EDGAR ↗
Q2 2023$346M138Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$317M135May 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 ↗.