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SHEPHERD KAPLAN KROCHUK, LLC — 13F Holdings & Portfolio

CIK 1218583 · latest 13F-HR filed 2026-08-14

Backtest portfolio

SHEPHERD KAPLAN KROCHUK, LLC manages $125.9M in 13F-reported U.S. long-equity assets across 62 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are VTI (9.95%), AAPL (6.99%), USMV (6.43%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 3 new positions and exited 2; 30 existing positions rose in reported value and 19 fell.

AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.

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AUM
$125.9M

Long-equity book

Holdings
62

Distinct positions

Period
2026-06-30

Filed 2026-08-14

Q/Q Activity
+3 / −2 / ↑30 / ↓19

vs 2026-03-31

Portfolio charts

Latest quarter's book, what changed, and how the portfolio has evolved across filings.

Portfolio map

Q2 26
VTI9.9% · -1%AAPL7.0% · 0%USMV6.4% · +8%ANGL6.4% · -3%SCHV4.3% · -8%JQUA4.1% · -4%MTUM3.2% · -27%FDL3.2% · +114%ET3.1% · -5%IJR2.9% · -1%JMBS2.5% · -10%CORP2.5% · -6%VO2.4% · +301%JEPI2.4% · +16%ACWI2.3% · -33%BRK.B2.2% · -2%SHV2.0% · +3%ZROZ2.0% · -32%VNQ1.9% · -1%IBM1.7% · +206%PGX1.7% · +35%SGOV1.7% · +1%RSP1.6% · +45%KMI1.6% · -3%VIOO1.5% · 0%SPDN1.3% · +44%HDEF1.3% · -21%BIV0.9% · +1%SSPY0.9% · 0%IVW0.9% · 0%NEM0.8% · 0%MGA0.8% · -10%IVV0.8% · 0%EPD0.7% · 0%VOO0.7% · 0%DUK0.6% · -3%GILD0.6% · -1%ABBV0.6% · +58%PFE0.6% · -4%PRU0.6% · +68%BEN0.6% · -10%QQQ0.5% · +0%MSFT0.4% · newNUV0.4% · -3%DOW0.4% · -26%AMLP0.4% · +2%MDST0.4% · -6%VTEB0.4% · 0%VUG0.4% · +500%SPY0.4% · +0%IBIT0.4% · 0%VZ0.3% · -2%JPEM0.3% · -9%GSIE0.3% · -10%OSEA0.3% · 0%GOOG0.3% · 0%NRGV0.3% · +0%GLD0.2% · 0%TBF0.2% · -43%GOOGL0.2% · 0%

Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.

Sector mix

% of 13F value

Sectors from each company's SIC code; funds and ETFs grouped separately.

Biggest buys and sells

Q1 26 → Q2 26

Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.

13F assets and positions

4 quarters

Total reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.

Top positions over time

reported value

The eight largest current positions, valued at each quarter end.

Concentration

top 10 = 50.7%

Cumulative share of the portfolio held in the largest N positions.

Firm Profile & Key People

As of the firm’s regulatory filing dated Mar 31, 2026.

Assets Under Management
$10.88B
Discretionary
$2.06B
Employees
34
Accounts
1,405
Address
53 STATE STREET
23RD FLOOR
BOSTON, MA 02109-2820
Phone
(617) 896-1600
Website
This firm reports 1 disclosure item on its registration.
Name Title / Status Ownership Type
BRACKETT, STEPHEN, MICHAEL ControlMANAGEMENT BOARD, PRESIDENT
since Aug 2019
10–25%Individual
DILORENZO, PETER, JOHN ControlCHIEF OPERATING OFFICER; CHIEF INFORMATION SECURITY OFFICER
since Jan 2016
Less than 5%Individual
DODGE, BAYARD, NMN ControlCHIEF COMPLIANCE OFFICER
since Mar 2023
Less than 5%Individual
FROG HOLDINGS, INC. ControlMEMBER
since Jan 2020
25–50%Domestic Entity
KAPLAN, DAVID, CHARLES ControlMANAGEMENT BOARD
since Nov 2017
10–25%Individual
KROCHUK, TIMOTHY, ADAM ControlMANAGEMENT BOARD
since Jun 2001
10–25%Individual
LOCKHART, BRIAN, DAVID ControlMANAGEMENT BOARD
since Feb 2020
10–25%Individual
SHEPHERD, DAVID, MORRIS ControlMANAGEMENT BOARD
since Nov 2017
25–50%Individual
BRACKETT HOLDINGS, INC.MEMBER
since Jan 2020
10–25%Domestic Entity
GEMINI HOLDINGS, INC.MEMBER
since Jan 2020
10–25%Domestic Entity
IAFT HOLDINGS, INC.MEMBER
since Jan 2020
10–25%Domestic Entity
VENTURE CAPITAL CONSULTING LLCMEMBER
since Feb 2020
10–25%Domestic Entity
BRACKETT, STEPHEN, MICHAEL Control
Indirect owner via BRACKETT HOLDINGS, INC.
PRESIDENT
since Jan 2020
75% or moreIndividual
KAPLAN, DAVID, CHARLES Control
Indirect owner via GEMINI HOLDINGS, INC.
PRESIDENT
since Jan 2020
75% or moreIndividual
KROCHUK, TIMOTHY, ADAM Control
Indirect owner via IAFT HOLDINGS, INC.
PRESIDENT
since Jan 2020
75% or moreIndividual
LOCKHART, BRIAN, DAVID Control
Indirect owner via VENTURE CAPITAL CONSULTING LLC
MEMBER
since Feb 2020
75% or moreIndividual
SHEPHERD, DAVID, MORRIS Control
Indirect owner via FROG HOLDINGS, INC.
PRESIDENT
since Jan 2020
75% or moreIndividual
Ownership & leadership changes · 10 filings with changes since Mar 30, 2012

From the firm’s regulatory filings, newest first. Dates are filing dates: a filing that no longer lists someone does not say when they left.

Mar 31, 2023 filing
  • AddedDODGE, BAYARD, NMN · CHIEF COMPLIANCE OFFICER · Less than 5% · control person
  • ChangedKAPLAN, DAVID, CHARLES · title MANAGEMENT BOARD; CHIEF COMPLIANCE OFFICER → MANAGEMENT BOARD
Jul 12, 2022 filing
  • No longer listedGOODMAN, BRUCE · GENERAL COUNSEL · Less than 5% · control person · listed since Nov 2019
Mar 30, 2022 filing
  • ChangedGOODMAN, BRUCE · title CHIEF COMPLIANCE OFFICER; GENERAL COUNSEL → GENERAL COUNSEL
  • ChangedKAPLAN, DAVID, CHARLES · title MANAGEMENT BOARD → MANAGEMENT BOARD; CHIEF COMPLIANCE OFFICER
Mar 31, 2021 filing
  • No longer listedPERRY, JONATHAN, THOMAS · CHIEF FINANCIAL OFFICER · Less than 5% · control person · listed since Nov 2017
Mar 30, 2020 filing
  • No longer listedWING, DARMAN, ANDER · GENERAL COUNSEL · Less than 5% · control person · listed since May 2004
  • AddedBRACKETT HOLDINGS, INC. · MEMBER · 10–25%
  • AddedBRACKETT, STEPHEN, MICHAEL · PRESIDENT · 75% or more · indirect via BRACKETT HOLDINGS, INC. · control person
  • AddedFROG HOLDINGS, INC. · MEMBER · 25–50% · control person
  • AddedGEMINI HOLDINGS, INC. · MEMBER · 10–25%
  • AddedIAFT HOLDINGS, INC. · MEMBER · 10–25%
  • AddedKAPLAN, DAVID, CHARLES · PRESIDENT · 75% or more · indirect via GEMINI HOLDINGS, INC. · control person
  • AddedKROCHUK, TIMOTHY, ADAM · PRESIDENT · 75% or more · indirect via IAFT HOLDINGS, INC. · control person
  • AddedLOCKHART, BRIAN, DAVID · MANAGEMENT BOARD · 10–25% · control person
  • AddedLOCKHART, BRIAN, DAVID · MEMBER · 75% or more · indirect via VENTURE CAPITAL CONSULTING LLC · control person
  • AddedSHEPHERD, DAVID, MORRIS · PRESIDENT · 75% or more · indirect via FROG HOLDINGS, INC. · control person
  • AddedVENTURE CAPITAL CONSULTING LLC · MEMBER · 10–25%
  • ChangedBRACKETT, STEPHEN, MICHAEL · title PRESIDENT → MANAGEMENT BOARD, PRESIDENT; ownership Less than 5% → 10–25%
  • ChangedDILORENZO, PETER, JOHN · title CHIEF OF STAFF; CHIEF INFORMATION SECURITY OFFICER → CHIEF OPERATING OFFICER; CHIEF INFORMATION SECURITY OFFICER
  • ChangedGOODMAN, BRUCE · title CHIEF COMPLIANCE OFFICER → CHIEF COMPLIANCE OFFICER; GENERAL COUNSEL
  • ChangedKAPLAN, DAVID, CHARLES · title MANAGING MEMBER, CO-CEO → MANAGEMENT BOARD; ownership 25–50% → 10–25%
  • ChangedKROCHUK, TIMOTHY, ADAM · title MANAGING MEMBER, CO-CEO → MANAGEMENT BOARD; ownership 25–50% → 10–25%
  • ChangedSHEPHERD, DAVID, MORRIS · title MANAGING MEMBER, CO-CEO → MANAGEMENT BOARD
Nov 8, 2019 filing
  • No longer listedGRANZO, SEBASTIAN · CHIEF COMPLIANCE OFFICER · Less than 5% · control person · listed since Apr 2018
  • AddedGOODMAN, BRUCE · CHIEF COMPLIANCE OFFICER · Less than 5% · control person
Aug 22, 2019 filing
  • AddedBRACKETT, STEPHEN, MICHAEL · PRESIDENT · Less than 5% · control person
  • ChangedKAPLAN, DAVID, CHARLES · title MANAGING MEMBER → MANAGING MEMBER, CO-CEO
  • ChangedKROCHUK, TIMOTHY, ADAM · title MANAGING MEMBER → MANAGING MEMBER, CO-CEO
  • ChangedSHEPHERD, DAVID, MORRIS · title MANAGING MEMBER → MANAGING MEMBER, CO-CEO
Mar 29, 2019 filing
  • ChangedDILORENZO, PETER, JOHN · now a control person
  • ChangedGRANZO, SEBASTIAN · now a control person
  • ChangedPERRY, JONATHAN, THOMAS · now a control person
  • ChangedWING, DARMAN, ANDER · now a control person
Mar 29, 2018 filing
  • AddedDILORENZO, PETER, JOHN · CHIEF OF STAFF; CHIEF INFORMATION SECURITY OFFICER · Less than 5%
  • AddedGRANZO, SEBASTIAN · CHIEF COMPLIANCE OFFICER · Less than 5%
  • AddedPERRY, JONATHAN, THOMAS · CHIEF FINANCIAL OFFICER · Less than 5%
  • AddedWING, DARMAN, ANDER · GENERAL COUNSEL · Less than 5%
  • ChangedKROCHUK, TIMOTHY, ADAM · title MANAGING MEMBER; CHIEF COMPLIANCE OFFICER → MANAGING MEMBER
Nov 21, 2017 filing
  • No longer listedFRASER, GREGORY, BRUCE · MANAGING MEMBER · 25–50% · control person · listed since Jun 2001
  • No longer listedKLUIBER, RUDOLPH, KARL · MANAGING MEMBER · 25–50% · control person · listed since Jun 2001
  • AddedKAPLAN, DAVID, CHARLES · MANAGING MEMBER · 25–50% · control person
  • AddedSHEPHERD, DAVID, MORRIS · MANAGING MEMBER · 25–50% · control person
  • ChangedKROCHUK, TIMOTHY, ADAM · ownership 10–25% → 25–50%
Older changes (1 more filing)
Mar 30, 2012 filing (earliest on record)
  • ListedFRASER, GREGORY, BRUCE · MANAGING MEMBER · 25–50% · control person
  • ListedKLUIBER, RUDOLPH, KARL · MANAGING MEMBER · 25–50% · control person
  • ListedKROCHUK, TIMOTHY, ADAM · MANAGING MEMBER; CHIEF COMPLIANCE OFFICER · 10–25% · control person

Quarter-over-quarter changes

Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.

Top Adds (vs prior quarter)

Show all 30 →

Top Trims

Show all 19 →

New Positions

Show all 3 →

Exited Positions

Show all 2 →

SHEPHERD KAPLAN KROCHUK, LLC Holdings (2026-06-30)

Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).

# Issuer Symbol CUSIP Value Weight Shares Type
1 VANGUARD INDEX FDS VTI 922908769 $12.5M 9.95% 33,836 SH
2 APPLE INC AAPL 037833100 $8.8M 6.99% 30,419 SH
3 ISHARES TR USMV 46429B697 $8.1M 6.43% 83,929 SH
4 VANECK ETF TRUST ANGL 92189F437 $8.1M 6.41% 275,949 SH
5 SCHWAB STRATEGIC TR SCHV 808524409 $5.5M 4.34% 156,870 SH
6 J P MORGAN EXCHANGE TRADED F JQUA 46641Q761 $5.1M 4.08% 71,025 SH
7 ISHARES TR MTUM 46432F396 $4.1M 3.24% 11,907 SH
8 FIRST TR EXCHANGE-TRADED FD FDL 336917109 $4.0M 3.20% 82,654 SH
9 ENERGY TRANSFER L P ET 29273V100 $3.9M 3.09% 203,522 SH
10 ISHARES TR IJR 464287804 $3.7M 2.93% 24,905 SH
11 JANUS DETROIT STR TR JMBS 47103U852 $3.2M 2.54% 71,141 SH
12 PIMCO ETF TR CORP 72201R817 $3.1M 2.49% 32,386 SH
13 VANGUARD INDEX FDS VO 922908629 $3.0M 2.42% 37,820 SH
14 J P MORGAN EXCHANGE TRADED F JEPI 46641Q332 $3.0M 2.40% 53,530 SH
15 ISHARES TR ACWI 464288257 $2.8M 2.26% 18,122 SH
16 BERKSHIRE HATHAWAY INC DEL BRK.B 084670702 $2.7M 2.17% 5,446 SH
17 ISHARES TR SHV 464288679 $2.5M 2.00% 22,811 SH
18 PIMCO ETF TR ZROZ 72201R882 $2.5M 1.95% 38,300 SH
19 VANGUARD INDEX FDS VNQ 922908553 $2.4M 1.88% 24,511 SH
20 INTERNATIONAL BUSINESS MACHS IBM 459200101 $2.2M 1.72% 7,704 SH
21 INVESCO EXCH TRADED FD TR II PGX 46138E511 $2.1M 1.69% 196,205 SH
22 ISHARES TR SGOV 46436E718 $2.1M 1.67% 20,910 SH
23 INVESCO EXCHANGE TRADED FD T RSP 46137V357 $2.0M 1.62% 9,557 SH
24 KINDER MORGAN INC DEL KMI 49456B101 $2.0M 1.59% 62,488 SH
25 VANGUARD ADMIRAL FDS INC VIOO 921932828 $1.8M 1.45% 13,294 SH
26 DIREXION SHARES ETF TRUST SPDN 25460E869 $1.7M 1.33% 193,457 SH
27 DBX ETF TR HDEF 233051630 $1.7M 1.32% 51,877 SH
28 VANGUARD BD INDEX FDS BIV 921937819 $1.1M 0.90% 14,777 SH
29 EXCHANGE LISTED FDS TR SSPY 30151E533 $1.1M 0.89% 11,509 SH
30 ISHARES TR IVW 464287309 $1.1M 0.87% 7,939 SH
31 NEWMONT CORP NEM 651639106 $1.0M 0.81% 10,921 SH
32 MAGNA INTL INC MGA 559222401 $1.0M 0.81% 15,434 SH
33 ISHARES TR IVV 464287200 $969.3K 0.77% 1,294 SH
34 ENTERPRISE PRODS PARTNERS L EPD 293792107 $828.5K 0.66% 22,538 SH
35 VANGUARD INDEX FDS VOO 922908363 $828.3K 0.66% 1,206 SH
36 DUKE ENERGY CORP NEW DUK 26441C204 $804.8K 0.64% 6,358 SH
37 GILEAD SCIENCES INC GILD 375558103 $792.0K 0.63% 6,269 SH
38 ABBVIE INC ABBV 00287Y109 $761.5K 0.60% 3,026 SH
39 PFIZER INC PFE 717081103 $740.8K 0.59% 30,764 SH
40 PRUDENTIAL FINL INC PRU 744320102 $703.7K 0.56% 6,520 SH
41 FRANKLIN RESOURCES INC BEN 354613101 $693.6K 0.55% 20,848 SH
42 INVESCO QQQ TR QQQ 46090E103 $688.7K 0.55% 935 SH
43 MICROSOFT CORP MSFT 594918104 $545.8K 0.43% 1,463 SH
44 NUVEEN MUN VALUE FD INC NUV 670928100 $537.4K 0.43% 58,291 SH
45 DOW HLDGS INC DOW 260557103 $537.1K 0.43% 19,631 SH
46 ALPS ETF TR AMLP 00162Q452 $507.3K 0.40% 9,785 SH
47 ULTIMUS MANAGERS TR MDST 90386K589 $503.6K 0.40% 17,468 SH
48 VANGUARD MUN BD FDS VTEB 922907746 $497.1K 0.39% 9,827 SH
49 VANGUARD INDEX FDS VUG 922908736 $469.8K 0.37% 5,453 SH
50 STATE STR SPDR S&P 500 ETF T SPY 78462F103 $447.3K 0.36% 599 SH
Filing History
Period Filed AUM Holdings Accession
2026-06-30 2026-08-14 $125.9M 62 0000919574-26-005448
2026-03-31 2026-05-15 $119.0M 61 0000919574-26-003276
2025-12-31 2026-02-13 $121.1M 64 0000919574-26-000962
2025-09-30 2025-11-13 $121.8M 61 0000919574-25-006712
Filer Information
Address
53 STATE STREET
23RD FLOOR
BOSTON, MA 02109
Phone
(617) 226-1700
Filing Manager
SHEPHERD KAPLAN KROCHUK, LLC
Boston, MA
Signatory
Timothy A. Krochuk
Manager