SHEPHERD KAPLAN KROCHUK, LLC
Long book
$119.0M
Q1 2026
Positions
61
Top-10 weight
50%
concentration
Last quarter
+8.6%
SPY +14.8%
Turnover
5%
of book per quarter
Strategy in plain words
auto-generated from filingsSHEPHERD KAPLAN KROCHUK, LLC is a wealth-management firm allocating client money, running a $119.0M US long book across 61 positions.
The portfolio is moderately concentrated (top 10 ≈ 50% of the book). The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: VANGUARD TOTAL STOCK MKT ETF, VANECK FALLEN ANGEL HIGH YLD, APPLE INC, ISHARES MSCI USA MIN VOL FAC, SCHWAB US LARGE-CAP VALUE.
Over the last 9 quarters its long book ran on average 1.5pp per quarter behind the S&P 500, beating the index in 3 of 9 quarters. Its holdings are mechanical (indexing / client flows), so position changes carry no stock-picking signal.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+2.2%
Q2 2024
+7.6%
Q3 2024
-0.7%
Q4 2024
+0.8%
Q1 2025
+1.7%
Q2 2025
+5.3%
Q3 2025
+1.1%
Q4 2025
+0.3%
Q1 2026
+8.6%
Sector allocation
Technology 31%
Utilities 28%
Financials 12%
Consumer staples 8%
Materials 8%
Healthcare 8%
Industrials 3%
Communications 2%
Long book by quarter
What does SHEPHERD KAPLAN own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| AAPL APPLE INC | Technology | 30.4K | $7.7M | 6.5% | +0.1% |
| ET ENERGY TRANSFER LP | Utilities | 215.0K | $4.1M | 3.5% | +5.1% |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 5.5K | $2.7M | 2.2% | -0.5% |
| CPB THE CAMPBELL'S COMPANY | Consumer staples | 108.9K | $2.4M | 2.0% | 0.0% |
| KMI KINDER MORGAN INC | Utilities | 64.2K | $2.2M | 1.8% | -1.3% |
| NEM NEWMONT CORP | Materials | 10.9K | $1.2M | 1.0% | Held |
| DOW DOW INC | Materials | 26.7K | $1.1M | 0.9% | -10.1% |
| MGA MAGNA INTERNATIONAL INC | Industrials | 17.2K | $959K | 0.8% | -0.7% |
| PFE PFIZER INC | Healthcare | 32.2K | $904K | 0.8% | -6.2% |
| GILD GILEAD SCIENCES INC | Healthcare | 6.3K | $884K | 0.7% | -1.4% |
| DUK DUKE ENERGY CORP | Utilities | 6.5K | $855K | 0.7% | -1.0% |
| EPD ENTERPRISE PRODUCTS PARTNERS | Utilities | 22.5K | $853K | 0.7% | Held |
| IBM INTL BUSINESS MACHINES CORP | Technology | 2.5K | $611K | 0.5% | +0.2% |
| BEN FRANKLIN RESOURCES INC | Financials | 23.2K | $548K | 0.5% | -0.5% |
| VZ VERIZON COMMUNICATIONS INC | Communications | 10.3K | $519K | 0.4% | -2.3% |
| ABBV ABBVIE INC | Healthcare | 1.9K | $415K | 0.3% | -0.3% |
| PRU PRUDENTIAL FINANCIAL INC | Financials | 3.9K | $379K | 0.3% | +0.5% |
| GOOG ALPHABET INC-CL C | Technology | 930 | $267K | 0.2% | -14.6% |
| NRGV ENERGY VAULT HOLDINGS INC | Technology | 67.8K | $224K | 0.2% | +0.8% |
| GOOGL ALPHABET INC-CL A | Technology | 706 | $203K | 0.2% | Held |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 61 | $119.0M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 13, 2026 | 64 | $121.1M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 13, 2025 | 61 | $121.8M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 57 | $115.1M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 58 | $116.8M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 51 | $119.6M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 55 | $132.6M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 57 | $126.6M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 55 | $125.3M | canonical | SEC ↗ |