SEC 13F Intelligence

Managers / Q1 2023 · view latest →

Annandale Capital, LLC

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

Reported Value
$316,563
Q1 2023
Positions
135
Filings on Record
23
2019–present window
Filed
May 15, 2023
original filing

Summary

Annandale Capital, LLC reported $316,563 in U.S.-listed holdings across 135 positions for Q1 2023.

Its largest position, Vanguard Bd Index Fds, represents 10.3% of the portfolio.

Compared with Q4 2022, the fund opened 7 new positions and exited 8.

Portfolio Metrics

Turnover
+6.0%
vs prior filed quarter
Top-10 Concentration
+43.5%
share of reported value
Largest Position
+10.3%
Vanguard Bd Index Fds
New / Exited
7 / 8
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: 51.1%ETP: 38.0%MLP: 7.6%Other: 2.6%ADR: 0.6%Other: 0.1%
  • Common Stock · 51.1% · $161,895
  • ETP · 38.0% · $120,341
  • MLP · 7.6% · $23,908
  • Other · 2.6% · $8,223
  • ADR · 0.6% · $1,867
  • Other · 0.1% · $329

Quarter-over-Quarter Changes full breakdown →

vs Q4 2022 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
TXNTEXAS INSTRS INCNEW+5.4K5.4K+$996$996
DGDOLLAR GEN CORP NEWNEW+4.3K4.3K+$901$901
UNPUNION PAC CORPNEW+3.7K3.7K+$750$750
ISHARES TRNEW+7.0K7.0K+$444$444
VTVVANGUARD INDEX FDSNEW+2.3K2.3K+$315$315
ISHARES TRNEW+2.6K2.6K+$251$251
BOILUSDPROSHARES TR IINEW+25.9K25.9K+$93$93
TELLEURTELLURIAN INC NEWADDED+115.2K140.2K+$130$172

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

Holdings — Q1 2023

42 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1VANGUARD BD INDEX FDSSHORT TRM BOND10.33%$32,712427.7K
2ISHARES TRUS TREAS BD ETF · ISHARES SEMICDTR · MSCI USA QLT FCT · MSCI EAFE ETF · MSCI CHINA ETF · MSCI EMG MKT ETF8.14%$25,759650.6K
3DFAIDIMENSIONAL ETF TRUSTINTL CORE EQT MK · EMGR CRE EQT MNG · US MKTWIDE VALUE6.67%$21,126792.1K
4ARANTERO RESOURCES CORPhistory →COM6.62%$20,958907.6K
5VANGUARD WHITEHALL FDSHIGH DIV YLD4.55%$14,408136.6K
6ETENERGY TRANSFER LPhistory →COM UT LTD PTN3.64%$11,509923.0K
7GLOBAL X FDSGLB X MLP ENRG I3.48%$11,026276.0K
8METAMETA PLATFORMS INChistory →CL A3.20%$10,13547.8K
9GOOGLALPHABET INCCAP STK CL A · CAP STK CL C2.87%$9,10087.7K
10ATVIEURACTIVISION BLIZZARD INChistory →COM2.72%$8,619100.7K
11BRK/BBERKSHIRE HATHAWAY INC DELhistory →CL B NEW2.60%$8,23626.7K
12MSFTMICROSOFT CORPhistory →COM2.16%$6,82323.7K
13SPDR S&P 500 ETF TRTR UNIT2.11%$6,66816.3K
14KMIKINDER MORGAN INC DELhistory →COM1.89%$5,975341.2K
15EPDENTERPRISE PRODS PARTNERS Lhistory →COM1.60%$5,065195.8K
16WEPMAGELLAN MIDSTREAM PRTNRS LPhistory →COM UNIT RP LP1.60%$5,05493.2K
17CSCOCISCO SYS INChistory →COM1.51%$4,77791.4K
18HDHOME DEPOT INChistory →COM1.46%$4,61615.6K
19AMZNAMAZON COM INChistory →COM1.39%$4,39742.6K
20WMTWALMART INChistory →COM1.36%$4,29429.1K
21NFLXNETFLIX INChistory →COM1.32%$4,19012.1K
22PGRPROGRESSIVE CORPhistory →COM1.32%$4,18229.2K
23AAPLAPPLE INChistory →COM1.26%$3,99924.3K
24GQ9SPDR GOLD TRhistory →GOLD SHS1.12%$3,55119.4K
25PAGPEURPLAINS GP HLDGS L Phistory →LTD PARTNR INT A1.08%$3,416260.4K
26MKLMARKEL CORPhistory →COM1.06%$3,3472.6K
27JNJJOHNSON & JOHNSONCOM0.88%$2,79418.0K
28AWNADVANCE AUTO PARTS INCCOM0.85%$2,67722.0K
29CPRTCOPART INCCOM0.84%$2,64535.2K
30COPCONOCOPHILLIPSCOM0.75%$2,38124.0K
31AZOAUTOZONE INCCOM0.71%$2,254917
32ADBEADOBE SYSTEMS INCORPORATEDCOM0.69%$2,1775.6K
33ICEINTERCONTINENTAL EXCHANGE INCOM0.55%$1,73416.6K
34SABRSABRE CORPCOM0.54%$1,721401.3K
35MTBM & T BK CORPCOM0.52%$1,64913.8K
36BKNGBOOKING HOLDINGS INCCOM0.52%$1,644620
37SCHWSCHWAB CHARLES CORPCOM0.52%$1,63131.1K
38ARCH CAP GROUP LTDORD0.49%$1,55522.9K
39ENSTAR GROUP LIMITEDSHS0.49%$1,5476.7K
40MMM3M COCOM0.45%$1,41413.4K
41VRSKVERISK ANALYTICS INCCOM0.44%$1,4057.3K
42DISDISNEY WALT COCOM0.43%$1,35813.6K

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 ↗

Other Included Managers

This filing reports holdings on behalf of 1 additional manager.

  • BIOS Capital Management, LP

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 ↗.