SHEPHERD KAPLAN KROCHUK, LLC

Boston, MA · CIK 1218583 · 13F filing filed 2026-08-14

SEC-registered investment adviser since 2003 · limited liability company

Assets managed$10.9bn
Staff34 · 15 in investment roles
Main clients (by assets)Pension plans 68%, High net worth individuals 14%, Private funds 11%
Private funds58 · $1.1bn gross assets
Form ADV · 2026-03-31SEC adviser record

Kindprivate equity, venture, real estate, institutions, futures, wealth
Others nearbyBoston, MA, Englewood, CO
FamilySHEPHERD KAPLAN KROCHUK, LLC · 4 related pages

As an employer

Offices in1 country
Private fundsventure capital 46, real estate 8, private equity 4

$125.9m reported value +5.8% vs Q1 2026

62positions

50.7%in top 10

3 new 18 added 28 reduced 2 sold out vs Q1 2026

This report includes the holdings of 2 other managers that share the investment decisions:

Peak Capital Management LLC – reports through this filing
Shepherd Kaplan, LLC – reports through this filing

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 INDEX FDS TOTAL STK MKT VTI	VTI	33,836	$12.5m9.95%	9.95%	Reduced -247	-247 -0.7%
2	APPLE INC COM AAPL	AAPL	30,419	$8.8m6.99%	6.99%	Added +3	+3 0.0%
3	ISHARES TR MSCI USA MIN VOL USMV	USMV	83,929	$8.1m6.43%	6.43%	Added +6.5k	+6,503 8.4%
4	VANECK ETF TRUST FALLEN ANGEL HG ANGL	ANGL	275,949	$8.1m6.41%	6.41%	Reduced -7.8k	-7,848 -2.8%
5	SCHWAB STRATEGIC TR US LCAP VA ETF SCHV	SCHV	156,870	$5.5m4.34%	4.34%	Reduced -13.0k	-12,960 -7.6%
6	J P MORGAN EXCHANGE TRADED F US QUALTY FCTR JQUA	JQUA	71,025	$5.1m4.08%	4.08%	Reduced -2.6k	-2,630 -3.6%
7	ISHARES TR MSCI USA MMENTM MTUM	MTUM	11,907	$4.1m3.24%	3.24%	Reduced -4.5k	-4,473 -27.3%
8	FIRST TR MORNINGSTAR DIVID L SHS FDL	FDL	82,654	$4.0m3.20%	3.20%	Added +44.1k	+44,080 114.3%
9	ENERGY TRANSFER L P COM UT LTD PTN ET	ET	203,522	$3.9m3.09%	3.09%	Reduced -11.4k	-11,439 -5.3%
10	ISHARES TR CORE S&P SCP ETF IJR	IJR	24,905	$3.7m2.93%	2.93%	Reduced -359	-359 -1.4%
11	JANUS DETROIT STR TR HENDERSON MTG JMBS	JMBS	71,141	$3.2m2.54%	2.54%	Reduced -7.9k	-7,875 -10.0%
12	PIMCO ETF TR INV GRD CRP BD CORP	CORP	32,386	$3.1m2.49%	2.49%	Reduced -1.9k	-1,882 -5.5%
13	VANGUARD INDEX FDS MID CAP ETF VO	VO	37,820	$3.0m2.42%	2.42%	Added +116	+116 0.3%
14	J P MORGAN EXCHANGE TRADED F EQUITY PREMIUM JEPI	JEPI	53,530	$3.0m2.40%	2.40%	Added +7.5k	+7,476 16.2%
15	ISHARES TR MSCI ACWI ETF ACWI	ACWI	18,122	$2.8m2.26%	2.26%	Reduced -9.0k	-8,999 -33.2%
16	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	5,446	$2.7m2.17%	2.17%	Reduced -104	-104 -1.9%
17	ISHARES TR SHORT TREAS BD SHV	SHV	22,811	$2.5m2.00%	2.00%	Added +732	+732 3.3%
18	PIMCO ETF TR 25YR+ ZERO U S ZROZ	ZROZ	38,300	$2.5m1.95%	1.95%	Reduced -17.8k	-17,841 -31.8%
19	VANGUARD INDEX FDS REAL ESTATE ETF VNQ	VNQ	24,511	$2.4m1.88%	1.88%	Reduced -180	-180 -0.7%
20	INTERNATIONAL BUSINESS MACHS COM IBM	IBM	7,704	$2.2m1.72%	1.72%	Added +5.2k	+5,185 205.8%
21	INVESCO EXCH TRADED FD TR II PFD ETF PGX	PGX	196,205	$2.1m1.69%	1.69%	Added +50.7k	+50,677 34.8%
22	ISHARES TR 0-3 MNTH TREASRY SGOV	SGOV	20,910	$2.1m1.67%	1.67%	Added +228	+228 1.1%
23	INVESCO EXCHANGE TRADED FD T S&P500 EQL WGT RSP	RSP	9,557	$2.0m1.62%	1.62%	Added +3.0k	+2,976 45.2%
24	KINDER MORGAN INC DEL COM KMI	KMI	62,488	$2.0m1.59%	1.59%	Reduced -1.7k	-1,729 -2.7%
25	VANGUARD ADMIRAL FDS INC SMLLCP 600 IDX VIOO	VIOO	13,294	$1.8m1.45%	1.45%	Unchanged
26	DIREXION SHS ETF TR DLY S&P500 BR 1X SPDN	SPDN	193,457	$1.7m1.33%	1.33%	Added +58.7k	+58,745 43.6%
27	DBX ETF TR XTRACK MSCI EAFE HDEF	HDEF	51,877	$1.7m1.32%	1.32%	Reduced -13.6k	-13,577 -20.7%
28	VANGUARD BD INDEX FDS INTERMED TERM BIV	BIV	14,777	$1.1m0.90%	0.90%	Added +160	+160 1.1%
29	EXCHANGE LISTED FDS TR STRATIFIED LARGE SSPY	SSPY	11,509	$1.1m0.89%	0.89%	Unchanged
30	ISHARES TR S&P 500 GRWT ETF IVW	IVW	7,939	$1.1m0.87%	0.87%	Unchanged
31	NEWMONT CORP COM NEM	NEM	10,921	$1.0m0.81%	0.81%	Unchanged
32	MAGNA INTL INC COM MGA	MGA	15,434	$1.0m0.81%	0.81%	Reduced -1.7k	-1,741 -10.1%
33	ISHARES TR CORE S&P500 ETF IVV	IVV	1,294	$969.3k0.77%	0.77%	Unchanged
34	ENTERPRISE PRODS PARTNERS L COM EPD	EPD	22,538	$828.5k0.66%	0.66%	Unchanged
35	VANGUARD INDEX FDS S&P 500 ETF SHS VOO	VOO	1,206	$828.3k0.66%	0.66%	Unchanged
36	DUKE ENERGY CORP NEW COM NEW DUK	DUK	6,358	$804.8k0.64%	0.64%	Reduced -169	-169 -2.6%
37	GILEAD SCIENCES INC COM GILD	GILD	6,269	$792.0k0.63%	0.63%	Reduced -74	-74 -1.2%
38	ABBVIE INC COM ABBV	ABBV	3,026	$761.5k0.60%	0.60%	Added +1.1k	+1,116 58.4%
39	PFIZER INC COM PFE	PFE	30,764	$740.8k0.59%	0.59%	Reduced -1.4k	-1,428 -4.4%
40	PRUDENTIAL FINL INC COM PRU	PRU	6,520	$703.7k0.56%	0.56%	Added +2.6k	+2,640 68.0%
41	FRANKLIN RESOURCES INC COM BEN	BEN	20,848	$693.6k0.55%	0.55%	Reduced -2.4k	-2,361 -10.2%
42	INVESCO QQQ TR UNIT SER 1 QQQ	QQQ	935	$688.7k0.55%	0.55%	Added +3	+3 0.3%
43	MICROSOFT CORP COM MSFT	MSFT	1,463	$545.8k0.43%	0.43%	New
44	NUVEEN MUN VALUE FD INC COM NUV	NUV	58,291	$537.4k0.43%	0.43%	Reduced -1.8k	-1,754 -2.9%
45	DOW INC COM DOW	DOW	19,631	$537.1k0.43%	0.43%	Reduced -7.1k	-7,071 -26.5%
46	ALPS ETF TR ALERIAN MLP AMLP	AMLP	9,785	$507.3k0.40%	0.40%	Added +223	+223 2.3%
47	ULTIMUS MANAGERS TR WESTWOOD SALIENT MDST	MDST	17,468	$503.6k0.40%	0.40%	Reduced -1.1k	-1,078 -5.8%
48	VANGUARD MUN BD FDS TAX EXEMPT BD VTEB	VTEB	9,827	$497.1k0.39%	0.39%	Unchanged
49	VANGUARD INDEX FDS GROWTH ETF VUG	VUG	5,453	$469.8k0.37%	0.37%	Reduced -1	-1 -0.0%
50	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	599	$447.3k0.36%	0.36%	Added +2	+2 0.3%
51	ISHARES BITCOIN TRUST ETF SHS BEN INT IBIT	IBIT	13,349	$444.4k0.35%	0.35%	Unchanged
52	VERIZON COMMUNICATIONS INC COM VZ	VZ	10,120	$428.5k0.34%	0.34%	Reduced -215	-215 -2.1%
53	J P MORGAN EXCHANGE TRADED F DIV RTN EM EQT JPEM	JPEM	6,078	$381.6k0.30%	0.30%	Reduced -585	-585 -8.8%
54	GOLDMAN SACHS ETF TR ACTIVEBETA INT GSIE	GSIE	8,127	$371.4k0.30%	0.30%	Reduced -943	-943 -10.4%
55	HARBOR ETF TRUST INTERNATNAL COMP OSEA	OSEA	11,778	$359.7k0.29%	0.29%	Unchanged
56	ALPHABET INC CAP STK CL C GOOG	GOOG	930	$328.7k0.26%	0.26%	Unchanged
57	ENERGY VAULT HOLDINGS INC COM NRGV	NRGV	67,971	$320.1k0.25%	0.25%	Added +175	+175 0.3%
58	SPDR GOLD TR GOLD SHS GLD	GLD	841	$309.8k0.25%	0.25%	Unchanged
59	PROSHARES TR SHRT 20+YR TRE TBF	TBF	12,361	$299.5k0.24%	0.24%	Reduced -9.4k	-9,446 -43.3%
60	ALPHABET INC CAP STK CL A GOOGL	GOOGL	706	$252.5k0.20%	0.20%	Unchanged
61	ISHARES TR RUS 1000 VAL ETF IWD	IWD	938	$227.4k0.18%	0.18%	New
62	INVESCO EXCHANGE TRADED FD T S&P 500 GARP ETF SPGP	SPGP	1,797	$219.8k0.17%	0.17%	New

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
CAMPBELL SOUP CO CPB	CPB	108,889	$2.4m108.9k shares
SCHWAB STRATEGIC TR SCHD	SCHD	10,094	$309.7k10.1k shares