MCMORGAN & CO LLC

SAN FRANCISCO, CA · CIK 1162695 · 13F filing filed 2026-08-14

SEC-registered investment adviser since 2001 · limited liability company

Assets managed$7.6bn
Staff26 · 14 in investment roles
Main clients (by assets)Pension plans 40%, Private funds 25%
Private funds8 · $1.7bn gross assets
Websitemcmorgan.com
Form ADV · 2026-09-16SEC adviser record

Kindventure, institutions
Others nearbySan Francisco, CA, Burbank, CA, Villa Park, IL

As an employer

Offices in1 country
Private fundsother private 7, venture capital 1

Where they work

people there (dot area)number not reportedmain officeHover or tap a dot. Australian and UK companies are placed at their business or registered address, with their staff across the whole country.

Offices

From Form ADV: the main office and the other offices where it does advisory work (at most the 25 largest), with the people doing investment work at each. “About” is worked out: the firm's investment staff less its other offices. Each city links to the other managers there.

City	Country	People
San Francisco, CA (main office)United States	United States	about 12
Burbank, CAUnited States	United States	1
Oakbrook Terrace, ILUnited States	United States	1

Map: places from GeoNames (CC BY 4.0), outlines from Natural Earth.

$664.0m reported value +7.4% vs Q1 2026

37positions

76.9%in top 10

2 new 8 added 27 reduced 5 sold out vs Q1 2026

Also in the report of:

MacKay Shields LLC

Shares in two reports are counted once in each security's totals.

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	VANGUARD BD INDEX FDS TOTAL BND MRKT BND	BND	1,955,898	$143.6m21.62%	21.62%	Reduced -39.3k	-39,335 -2.0%
2	VANGUARD INDEX FDS S&P 500 ETF SHS VOO	VOO	120,533	$82.8m12.47%	12.47%	Reduced -837	-837 -0.7%
3	ISHARES TR CORE TOTAL USD IUSB	IUSB	1,099,343	$50.7m7.64%	7.64%	Reduced -148.1k	-148,128 -11.9%
4	BLACKROCK ETF TRUST ISHARES US EQUIT DYNF	DYNF	600,654	$40.9m6.15%	6.15%	Reduced -31.2k	-31,220 -4.9%
5	SPDR SER TR PORTFOLIO LN TSR SPTL	SPTL	1,504,389	$39.5m5.94%	5.94%	Reduced -12.0k	-11,982 -0.8%
6	BLACKROCK ETF TRUST ISHA IN CTRY ETF CORO	CORO	1,006,205	$36.8m5.55%	5.55%	Added +211.7k	+211,702 26.6%
7	J P MORGAN EXCHANGE TRADED F ULTRA SHRT ETF JPST	JPST	668,362	$33.8m5.09%	5.09%	Added +220.2k	+220,226 49.1%
8	VANGUARD TAX-MANAGED FDS VAN FTSE DEV MKT VEA	VEA	450,130	$32.1m4.83%	4.83%	Reduced -85.8k	-85,812 -16.0%
9	ISHARES TR S&P 500 GRWT ETF IVW	IVW	186,940	$25.7m3.87%	3.87%	Reduced -9.4k	-9,374 -4.8%
10	ISHARES TR MSCI USA QLT FCT QUAL	QUAL	111,785	$24.5m3.69%	3.69%	Reduced -5.0k	-4,989 -4.3%
11	ISHARES TR FLTG RATE NT ETF FLOT	FLOT	441,517	$22.5m3.39%	3.39%	Added +144.3k	+144,256 48.5%
12	BLACKROCK ETF TRUST ISHARES US THEMA THRO	THRO	426,276	$18.4m2.77%	2.77%	Reduced -30.9k	-30,930 -6.8%
13	BLACKROCK ETF TRUST II ISHARES FLEXIBLE BINC	BINC	343,360	$18.0m2.71%	2.71%	Reduced -1.7k	-1,659 -0.5%
14	ISHARES TR S&P 500 VAL ETF IVE	IVE	75,006	$17.0m2.56%	2.56%	Reduced -3.1k	-3,112 -4.0%
15	ISHARES TR SYSTEMATIC BD ET SYSB	SYSB	187,772	$16.7m2.51%	2.51%	Added +43.5k	+43,476 30.1%
16	BLACKROCK ETF TRUST ISHA I IN TE ETF BAI	BAI	268,644	$14.2m2.13%	2.13%	Reduced -62.7k	-62,664 -18.9%
17	ISHARES TR CONV BD ETF ICVT	ICVT	110,144	$13.4m2.02%	2.02%	Added +31.0k	+30,973 39.1%
18	ISHARES TR 0-5 YR TIPS ETF STIP	STIP	128,819	$13.2m1.98%	1.98%	Added +216	+216 0.2%
19	WORLD GOLD TR SPDR GLD MINIS GLDM	GLDM	105,909	$8.4m1.27%	1.27%	Reduced -15.3k	-15,309 -12.6%
20	GLOBAL X FDS DEFENSE TECH ETF SHLD	SHLD	74,179	$4.4m0.67%	0.67%	Added +14.9k	+14,869 25.1%
21	ISHARES TR MSCI USA MIN VOL USMV	USMV	28,304	$2.7m0.41%	0.41%	Added +66	+66 0.2%
22	CLEAR SECURE INC COM CL A YOU	YOU	10,845	$604.4k0.09%	0.09%	Reduced -110	-110 -1.0%
23	SHARKNINJA INC COM SHS SN	SN	3,691	$562.0k0.08%	0.08%	Reduced -30	-30 -0.8%
24	SELECT SECTOR SPDR TR TECHNOLOGY XLK	XLK	2,175	$414.5k0.06%	0.06%	Reduced -524	-524 -19.4%
25	CROCS INC COM CROX	CROX	3,014	$363.6k0.05%	0.05%	Reduced -25	-25 -0.8%
26	WILLSCOT HLDGS CORP COM CL A WSC	WSC	11,557	$333.5k0.05%	0.05%	Reduced -90	-90 -0.8%
27	DOUGLAS DYNAMICS INC COM PLOW	PLOW	6,070	$327.5k0.05%	0.05%	Reduced -60	-60 -1.0%
28	ONESPAWORLD HOLDINGS LIMITED COM OSW	OSW	10,710	$302.4k0.05%	0.05%	Reduced -120	-120 -1.1%
29	NAPCO SEC TECHNOLOGIES INC COM NSSC	NSSC	7,661	$291.0k0.04%	0.04%	Reduced -90	-90 -1.2%
30	ISHARES TR S&P 100 ETF OEF	OEF	740	$270.7k0.04%	0.04%	Reduced -10.1k	-10,142 -93.2%
31	I3 VERTICALS INC COM CL A IIIV	IIIV	12,151	$259.5k0.04%	0.04%	Reduced -120	-120 -1.0%
32	VALVOLINE INC COM VVV	VVV	5,646	$223.2k0.03%	0.03%	New
33	WYNDHAM HOTELS & RESORTS INC COM WH	WH	2,545	$214.3k0.03%	0.03%	Reduced -25	-25 -1.0%
34	FRANKLIN COVEY CO COM FC	FC	8,519	$209.0k0.03%	0.03%	New
35	BRIGHTVIEW HLDGS INC COM BV	BV	12,415	$175.9k0.03%	0.03%	Reduced -150	-150 -1.2%
36	CCC INTELLIGENT SOLUTIONS HL COM CCC	CCC	33,688	$173.8k0.03%	0.03%	Reduced -327	-327 -1.0%
37	THRYV HLDGS INC COM NEW THRY	THRY	20,846	$82.1k0.01%	0.01%	Reduced -170	-170 -0.8%

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
EXLSERVICE HOLDINGS INC EXLS	EXLS	7,773	$236.7k7.8k shares
PRESTIGE CONSMR HEALTHCARE I PBH	PBH	3,863	$229.0k3.9k shares
BLACKLINE INC BL	BL	6,000	$222.0k6.0k shares
ISHARES TR ITA	ITA	987	$216.1k987 shares
EUROPEAN WAX CTR INC EWCZ	EWCZ	27,179	$157.1k27.2k shares