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AC

Annandale Capital Portfolio holdings

AUM $733M
1-Year Est. Return 11.32%
This Fund
S&P 500
This Quarter Est. Return
+0.82%
1 Year Est. Return
+11.32%
3 Year Est. Return
+57.18%
5 Year Est. Return
+81.48%
10 Year Est. Return
–
AUM
$843M
AUM Growth
+$255M
Cap. Flow
+$39.7M
Cap. Flow %
4.71%
Top 10 Hldgs %
51.34%
Holding
140
New
16
Increased
32
Reduced
37
Closed
13

Top Buys

Rank Stock Value
1
QUAL icon
iShares MSCI USA Quality Factor ETF
QUAL
+$16.1M
2
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$7.69M
3
AKRE
Akre Focus ETF
AKRE
+$6.38M
4
DFAX icon
Dimensional World ex US Core Equity 2 ETF
DFAX
+$5.15M
5
KDP icon
Keurig Dr Pepper
KDP
+$4.45M

Top Sells

Rank Stock Value
1
NFLX icon
Netflix
NFLX
+$4.84M
2
MORN icon
Morningstar
MORN
+$4.66M
3
AZO icon
AutoZone
AZO
+$4.51M
4
BUR icon
Burford Capital
BUR
+$3.59M
5
MKL icon
Markel Group
MKL
+$3.38M

Sector Composition

Rank Sector Weight
1 Miscellaneous 69.27%
2 Financials 8.56%
3 Technology 5.01%
4 Communication Services 4.67%
5 Energy 3.54%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
VOO icon
1
PUT
Vanguard S&P 500 ETF
VOO
$1.05T
$114M 13.52%
+200,000
New +$124M
SPY icon
2
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$814B
$80.8M 9.58%
130,000
-110,000
-46% -$74.3M
BSV icon
3
Vanguard Short-Term Bond ETF
BSV
$46.5B
$42.4M 5.03%
538,557
-120
-0% -$9.47K
DFAI
4
Dimensional International Core Equity Market ETF
DFAI
$18.4B
$36.3M 4.31%
953,684
+68,042
+8% +$2.52M
DFCF icon
5
Dimensional Core Fixed Income ETF
DFCF
$11.5B
$35.8M 4.25%
841,374
+40,562
+5% +$1.74M
DCOR icon
6
Dimensional US Core Equity 1 ETF
DCOR
$3.55B
$32.7M 3.87%
443,455
+38,254
+9% +$2.78M
DFAE icon
7
Dimensional Emerging Core Equity Market ETF
DFAE
$10.3B
$24.5M 2.9%
751,675
+43,472
+6% +$1.4M
VYM icon
8
Vanguard High Dividend Yield ETF
VYM
$83.3B
$24.2M 2.87%
168,517
+12,356
+8% +$1.76M
QUAL icon
9
iShares MSCI USA Quality Factor ETF
QUAL
$47.5B
$22.7M 2.69%
114,253
+81,869
+253% +$16.1M
GOVT icon
10
iShares US Treasury Bond ETF
GOVT
$41.7B
$19.5M 2.31%
845,043
+21,766
+3% +$504K
MLPX icon
11
Global X MLP & Energy Infrastructure ETF
MLPX
$3.67B
$17.7M 2.1%
292,287
+13,209
+5% +$791K
META icon
12
Meta Platforms (Facebook)
META
$1.57T
$16.3M 1.93%
24,633
-2,838
-10% -$1.9M
SPY icon
13
State Street SPDR S&P 500 ETF Trust
SPY
$814B
$15.6M 1.85%
22,916
+11,381
+99% +$7.69M
MSFT icon
14
Microsoft
MSFT
$3.71T
$15.1M 1.79%
31,199
+8,117
+35% +$4.07M
BRK.B icon
15
Berkshire Hathaway Class B
BRK.B
$1.08T
$13.6M 1.61%
27,062
-84
-0.3% -$41.8K
AMZN icon
16
Amazon
AMZN
$2.79T
$12.2M 1.44%
52,647
– –
GOOGL icon
17
CALL
Alphabet (Google) Class A
GOOGL
$4.14T
$11.6M 1.38%
+29,000
New +$8.29M
EEM icon
18
iShares MSCI Emerging Markets ETF
EEM
$31.9B
$11.5M 1.37%
210,809
-468
-0.2% -$25.5K
AVUS icon
19
Avantis US Equity ETF
AVUS
$14.6B
$10.6M 1.26%
94,819
– –
ET icon
20
Energy Transfer Partners
ET
$74B
$10.5M 1.25%
638,661
+1,182
+0.2% +$19.7K
IWM icon
21
PUT
iShares Russell 2000 ETF
IWM
$80.5B
$10M 1.19%
50,000
– –
WMT icon
22
Walmart Inc
WMT
$850B
$9.54M 1.13%
85,645
-394
-0.5% -$42.3K
HD icon
23
Home Depot
HD
$320B
$9.47M 1.12%
27,510
+11,177
+68% +$4.09M
GOOGL icon
24
Alphabet (Google) Class A
GOOGL
$4.14T
$9.3M 1.1%
29,721
– –
UBER icon
25
Uber
UBER
$155B
$8.83M 1.05%
108,099
+1,200
+1% +$108K
1
2 3 4 5

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Annandale Capital's Q4 2025 Portfolio in Review

As of Q4 2025, Annandale Capital held 140 positions worth $843M, up 43% from $588M the previous quarter. Its ten largest holdings account for 51% of the portfolio.

Annandale Capital deployed $39.7M of net new capital in Q4 2025, opening 16 new positions and adding to 32 existing holdings. Its largest new stake was Akre Focus ETF: 98,506 shares worth $6.45M.

By sector, the portfolio is most concentrated in Miscellaneous at 69% of assets, up from 54% a quarter earlier, followed by Financials and Technology.

On the sell side, the largest reduction was Netflix, an estimated $4.84M trimmed.

  • Annandale Capital's largest Q4 2025 buy was Akre Focus ETF: 98,506 shares worth $6.45M.
  • Annandale Capital added most to iShares MSCI USA Quality Factor ETF in Q4 2025, an estimated $16.1M increase.
  • Annandale Capital's biggest Q4 2025 reduction was Netflix, cutting an estimated $4.84M.
  • Annandale Capital fully exited Morningstar in Q4 2025, selling an estimated $4.66M.
  • Annandale Capital's ten largest holdings make up 51% of its $843M portfolio in Q4 2025.
  • Annandale Capital opened 16 new positions and closed 13 in Q4 2025.
  • Annandale Capital's portfolio value rose 43% quarter-over-quarter to $843M.

Based on Annandale Capital's 13F filing for Q4 2025, filed 12 Feb 2026.