SEC 13F Intelligence

Managers / Q3 2022 · view latest →

Annandale Capital, LLC

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

Reported Value
$271M
Q3 2022
Positions
134
Filings on Record
23
2019–present window
Filed
Nov 14, 2022
original filing

Summary

Annandale Capital, LLC reported $271M in U.S.-listed holdings across 134 positions for Q3 2022.

Its largest position, AR, represents 9.9% of the portfolio.

Compared with Q2 2022, the fund opened 42 new positions and exited 35.

Portfolio Metrics

Turnover
+17.7%
vs prior filed quarter
Top-10 Concentration
+44.9%
share of reported value
Largest Position
+9.9%
Antero Resources
New / Exited
42 / 35
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. 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: 54.2%ETP: 33.4%MLP: 7.8%Other: 3.2%ADR: 1.3%Other: 0.1%
  • Common Stock · 54.2% · $147M
  • ETP · 33.4% · $91M
  • MLP · 7.8% · $21M
  • Other · 3.2% · $9M
  • ADR · 1.3% · $4M
  • Other · 0.1% · $277,000

Quarter-over-Quarter Changes full breakdown →

vs Q2 2022 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
ISHARES TRNEW+422.1K422.1K+$10M$10M
DFAIDIMENSIONAL ETF TRUSTNEW+183.9K183.9K+$4M$4M
DIMENSIONAL ETF TRUSTNEW+136.5K136.5K+$3M$3M
ISHARES TRNEW+18.4K18.4K+$2M$2M
AZOAUTOZONE INCNEW+495495+$1M$1M
LL FLOORING HOLDINGS INCNEW+150.0K150.0K+$1M$1M
ICEINTERCONTINENTAL EXCHANGE INNEW+11.4K11.4K+$1M$1M
FOSLFOSSIL GROUP INCNEW+250.0K250.0K+$855,000$855,000

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

Holdings — Q3 2022

44 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1ARANTERO RESOURCES CORPhistory →COM9.89%$27M878.2K
2VANGUARD BD INDEX FDSSHORT TRM BOND9.78%$27M354.4K
3ISHARES TRUS TREAS BD ETF · MSCI EAFE ETF · MBS ETF · MSCI USA QLT FCT · MSCI EMG MKT ETF6.39%$17M544.8K
4VANGUARD WHITEHALL FDSHIGH DIV YLD4.96%$13M141.9K
5DFUVDIMENSIONAL ETF TRUSTUS MKTWIDE VALUE · INTL CORE EQT MK · EMGR CRE EQT MNG4.31%$12M488.1K
6ETENERGY TRANSFER LPhistory →COM UT LTD PTN3.75%$10M921.0K
7GLOBAL X FDSGLB X MLP ENRG I3.62%$10M261.7K
8KMIKINDER MORGAN INC DELhistory →COM2.71%$7M441.1K
9BRK/BBERKSHIRE HATHAWAY INC DELhistory →CL B NEW2.50%$7M25.3K
10SPDR S&P 500 ETF TRTR UNIT2.14%$6M16.3K
11MSFTMICROSOFT CORPhistory →COM2.03%$6M23.7K
12ATVIEURACTIVISION BLIZZARD INChistory →COM1.98%$5M72.3K
13GOOGLALPHABET INChistory →CAP STK CL A1.83%$5M52.0K
14EPDENTERPRISE PRODS PARTNERS Lhistory →COM1.69%$5M193.2K
15WEPMAGELLAN MIDSTREAM PRTNRS LPhistory →COM UNIT RP LP1.64%$4M93.3K
16HDHOME DEPOT INChistory →COM1.59%$4M15.6K
17METAMETA PLATFORMS INChistory →CL A1.56%$4M31.2K
18WMTWALMART INChistory →COM1.39%$4M29.1K
19CSCOCISCO SYS INChistory →COM1.36%$4M91.9K
20PGRPROGRESSIVE CORPhistory →COM1.25%$3M29.2K
21ARCH CAP GROUP LTDORD1.23%$3M73.0K
22SABRSABRE CORPhistory →COM1.20%$3M630.5K
23AAPLAPPLE INChistory →COM1.16%$3M22.7K
24GQ9SPDR GOLD TRhistory →GOLD SHS1.11%$3M19.4K
25JNJJOHNSON & JOHNSONhistory →COM1.09%$3M18.0K
26YUSDALLEGHANY CORP DELhistory →COM1.08%$3M3.5K
27NFLXNETFLIX INChistory →COM1.05%$3M12.1K
28PAGPEURPLAINS GP HLDGS L Phistory →LTD PARTNR INT A1.04%$3M258.9K
29INTCINTEL CORPCOM0.97%$3M102.0K
30MKLMARKEL CORPCOM0.96%$3M2.4K
31AMZNAMAZON COM INCCOM0.91%$2M21.9K
32MTBM & T BK CORPCOM0.90%$2M13.8K
33COPCONOCOPHILLIPSCOM0.89%$2M23.6K
34BABAALIBABA GROUP HLDG LTDSPONSORED ADS0.76%$2M25.7K
35CPRTCOPART INCCOM0.69%$2M17.6K
36KEYKEYCORPCOM0.64%$2M108.6K
37MPCMARATHON PETE CORPCOM0.53%$1M14.6K
38DISDISNEY WALT COCOM0.48%$1M13.7K
39VRSKVERISK ANALYTICS INCCOM0.47%$1M7.4K
40MMM3M COCOM0.43%$1M10.6K
41ADBEADOBE SYSTEMS INCORPORATEDCOM0.43%$1M4.2K
42KHCKRAFT HEINZ COCOM0.43%$1M35.0K
43BACBK OF AMERICA CORPCOM0.43%$1M38.6K
44SCHWSCHWAB CHARLES CORPCOM0.43%$1M16.1K

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 ↗.