SHEPHERD KAPLAN KROCHUK, LLC
Reported holdings as of Q2 2026, from 31 quarterly filings.
Holdings
| Security | Ticker | Value | Shares | Weight | Weight change | Held | Change |
|---|---|---|---|---|---|---|---|
| VANGUARD INDEX FDS | VTI | $12.5M | 33,836 | +0.76pp | 14q | -0.7%-$91.4K | |
| APPLE INC | AAPL | $8.8M | 30,419 | +0.50pp | 25q | HELD | |
| ISHARES TR | USMV | $8.1M | 83,929 | +0.40pp | 10q | +8.4%+$627.3K | |
| VANECK ETF TRUST | ANGL | $8.1M | 275,949 | -0.44pp | 25q | -2.8%-$229.5K | |
| SCHWAB STRATEGIC TR | SCHV | $5.5M | 156,870 | -0.02pp | 25q | -7.6%-$451.1K | |
| J P MORGAN EXCHANGE TRADED F | JQUA | $5.1M | 71,025 | +0.28pp | 25q | -3.6%-$190.1K | |
| ISHARES TR | MTUM | $4.1M | 11,907 | -0.06pp | 25q | -27.3%-$1.5M | |
| FIRST TR EXCHANGE-TRADED FD | FDL | $4.0M | 82,654 | +1.55pp | 3q | +114.3%+$2.1M | |
| ENERGY TRANSFER L P | ET | $3.9M | 203,522 | -0.40pp | 26q | -5.3%-$218.7K | |
| ISHARES TR | IJR | $3.7M | 24,905 | +0.29pp | 17q | -1.4%-$53.2K | |
| JANUS DETROIT STR TR | JMBS | $3.2M | 71,141 | -0.46pp | 18q | -10.0%-$354.3K | |
| PIMCO ETF TR | CORP | $3.1M | 32,386 | -0.30pp | 15q | -5.5%-$182.4K | |
| VANGUARD INDEX FDS | VO | $3.0M | 37,820 | +0.15pp | 29q | +301.2%+$2.3M | |
| J P MORGAN EXCHANGE TRADED F | JEPI | $3.0M | 53,530 | +0.21pp | 12q | +16.2%+$422.2K | |
| ISHARES TR | ACWI | $2.8M | 18,122 | -0.89pp | 11q | -33.2%-$1.4M | |
| BERKSHIRE HATHAWAY INC DEL | BRKB | $2.7M | 5,446 | -0.07pp | 31q | -1.9%-$52.0K | |
| ISHARES TR | SHV | $2.5M | 22,811 | -0.05pp | 31q | +3.3%+$80.8K | |
| PIMCO ETF TR | ZROZ | $2.5M | 38,300 | -1.07pp | 6q | -31.8%-$1.1M | |
| VANGUARD INDEX FDS | VNQ | $2.4M | 24,511 | +0.04pp | 25q | -0.7%-$17.4K | |
| INTERNATIONAL BUSINESS MACHS | IBM | $2.2M | 7,704 | +1.21pp | 10q | +205.8%+$1.5M | |
| INVESCO EXCH TRADED FD TR II | PGX | $2.1M | 196,205 | +0.36pp | 25q | +34.8%+$549.3K | |
| ISHARES TR | SGOV | $2.1M | 20,910 | -0.08pp | 15q | +1.1%+$23.0K | |
| INVESCO EXCHANGE TRADED FD T | RSP | $2.0M | 9,557 | +0.55pp | 3q | +45.2%+$633.2K | |
| KINDER MORGAN INC DEL | KMI | $2.0M | 62,488 | -0.22pp | 26q | -2.7%-$55.3K | |
| VANGUARD ADMIRAL FDS INC | VIOO | $1.8M | 13,294 | +0.17pp | 23q | HELD | |
| DIREXION SHARES ETF TRUST | SPDN | $1.7M | 193,457 | +0.21pp | 9q | +43.6%+$509.3K | |
| DBX ETF TR | HDEF | $1.7M | 51,877 | -0.46pp | 22q | -20.7%-$436.4K | |
| VANGUARD BD INDEX FDS | BIV | $1.1M | 14,777 | -0.05pp | 8q | +1.1%+$12.3K | |
| EXCHANGE LISTED FDS TR | SSPY | $1.1M | 11,509 | +0.03pp | 8q | HELD | |
| ISHARES TR | IVW | $1.1M | 7,939 | +0.11pp | 31q | HELD | |
| NEWMONT CORP | NEM | $1.0M | 10,921 | -0.18pp | 25q | HELD | |
| MAGNA INTL INC | MGA | $1.0M | 15,434 | flat | 6q | -10.1%-$114.3K | |
| ISHARES TR | IVV | $969.3K | 1,294 | +0.06pp | 24q | HELD | |
| ENTERPRISE PRODS PARTNERS L | EPD | $828.5K | 22,538 | -0.06pp | 26q | HELD | |
| VANGUARD INDEX FDS | VOO | $828.3K | 1,206 | +0.05pp | 31q | HELD | |
| DUKE ENERGY CORP NEW | DUK | $804.8K | 6,358 | -0.08pp | 13q | -2.6%-$21.4K | |
| GILEAD SCIENCES INC | GILD | $792.0K | 6,269 | -0.11pp | 6q | -1.2%-$9.3K | |
| ABBVIE INC | ABBV | $761.5K | 3,026 | +0.26pp | 3q | +58.4%+$280.8K | |
| PFIZER INC | PFE | $740.8K | 30,764 | -0.17pp | 6q | -4.4%-$34.4K | |
| PRUDENTIAL FINL INC | PRU | $703.7K | 6,520 | +0.24pp | 3q | +68.0%+$284.9K | |
| FRANKLIN RESOURCES INC | BEN | $693.6K | 20,848 | +0.09pp | 6q | -10.2%-$78.6K | |
| INVESCO QQQ TR | QQQ | $688.7K | 935 | +0.09pp | 5q | HELD | |
| MICROSOFT CORP | MSFT | $545.8K | 1,463 | - | new | NEW | |
| NUVEEN MUN VALUE FD INC | NUV | $537.4K | 58,291 | -0.03pp | 21q | -2.9%-$16.2K | |
| DOW HLDGS INC | DOW | $537.1K | 19,631 | -0.51pp | 6q | -26.5%-$193.5K | |
| ALPS ETF TR | AMLP | $507.3K | 9,785 | -0.02pp | 15q | +2.3%+$11.6K | |
| ULTIMUS MANAGERS TR | MDST | $503.6K | 17,468 | -0.05pp | 4q | -5.8%-$31.1K | |
| VANGUARD MUN BD FDS | VTEB | $497.1K | 9,827 | -0.02pp | 11q | HELD | |
| VANGUARD INDEX FDS | VUG | $469.8K | 5,453 | +0.04pp | 13q | +499.9%+$391.5K | |
| STATE STR SPDR S&P 500 ETF T | SPY | $447.3K | 599 | +0.03pp | 8q | HELD | |
| ISHARES BITCOIN TRUST ETF | IBIT | $444.4K | 13,349 | -0.08pp | 9q | HELD | |
| VERIZON COMMUNICATIONS INC | VZ | $428.5K | 10,120 | -0.10pp | 6q | -2.1%-$9.1K | |
| J P MORGAN EXCHANGE TRADED F | JPEM | $381.6K | 6,078 | -0.04pp | 15q | -8.8%-$36.7K | |
| GOLDMAN SACHS ETF TR | GSIE | $371.4K | 8,127 | -0.03pp | 25q | -10.4%-$43.1K | |
| HARBOR ETF TRUST | OSEA | $359.7K | 11,778 | flat | 8q | HELD | |
| ALPHABET INC | GOOG | $328.7K | 930 | +0.04pp | 4q | HELD | |
| ENERGY VAULT HOLDINGS INC | NRGV | $320.1K | 67,971 | +0.07pp | 7q | HELD | |
| SPDR GOLD TR | GLD | $309.8K | 841 | -0.06pp | 10q | HELD | |
| PROSHARES TR | TBF | $299.5K | 12,361 | -0.21pp | 4q | -43.3%-$228.9K | |
| ALPHABET INC | GOOGL | $252.5K | 706 | +0.03pp | 3q | HELD | |
| ISHARES TR | IWD | $227.4K | 938 | - | new | NEW | |
| INVESCO EXCHANGE TRADED FD T | SPGP | $219.8K | 1,797 | - | new | NEW |
By sector
Industry comes from the SIC code on each company's own SEC filings, which is self-reported and sometimes out of date. Derivative exposure is counted with the shares. Securities the SEC assigns no industry - funds, trusts, foreign issues - are shown as not classified rather than dropped.
| Sector | Value | Share |
|---|---|---|
| Computer Hardware | $11.0M | 8.7% |
| Energy | $6.7M | 5.3% |
| Insurance | $3.4M | 2.7% |
| Biotech & Pharma | $2.3M | 1.8% |
| Other sectors | $8.4M | 6.7% |
| Not classified | $94.1M | 74.7% |
Quarter by quarter
| Quarter | Value | Positions | New | Added | Trimmed | Exited | Top 10 | Days to file |
|---|---|---|---|---|---|---|---|---|
| Q2 2026 | $125.9M | 62 | 3 | 15 | 27 | 2 | 50.7% | 45 |
| Q1 2026 | $119.0M | 61 | 0 | 8 | 35 | 3 | 49.7% | 45 |
| Q4 2025 | $121.1M | 64 | 5 | 16 | 29 | 2 | 49.7% | 44 |
| Q3 2025 | $121.8M | 61 | 4 | 16 | 25 | 0 | 48.7% | 44 |
| Q2 2025 | $115.1M | 57 | 2 | 14 | 22 | 3 | 48.2% | 45 |
| Q1 2025 | $116.8M | 58 | 10 | 7 | 19 | 3 | 46.3% | 45 |
| Q4 2024 | $119.6M | 51 | 4 | 16 | 19 | 8 | 50.3% | 45 |
| Q3 2024 | $132.6M | 55 | 5 | 15 | 19 | 7 | 48.8% | 45 |
| Q2 2024 | $126.6M | 57 | 4 | 14 | 19 | 2 | 47.9% | 45 |
| Q1 2024 | $125.3M | 55 | 4 | 18 | 16 | 3 | 51.7% | 45 |
| Q4 2023 | $123.0M | 54 | 5 | 11 | 25 | 3 | 51.0% | 45 |
| Q3 2023 | $115.1M | 52 | 3 | 11 | 22 | 3 | 52.6% | 45 |
| Q2 2023 | $126.4M | 52 | 6 | 16 | 14 | 9 | 54.5% | 45 |
| Q1 2023 | $113.4M | 55 | 1 | 13 | 23 | 18 | 52.3% | 41 |
| Q4 2022 | $168.6M | 72 | 9 | 14 | 27 | 77 | 47.5% | 45 |
| Q3 2022 | $199.7M | 140 | 8 | 25 | 48 | 51 | 41.8% | 40 |
| Q2 2022 | $228.9M | 183 | 16 | 40 | 35 | 19 | 38.8% | 43 |
| Q1 2022 | $264.2M | 186 | 19 | 23 | 58 | 22 | 42.0% | 36 |
| Q4 2021 | $277.5M | 189 | 17 | 46 | 37 | 16 | 42.7% | 45 |
| Q3 2021 | $272.3M | 188 | 9 | 26 | 73 | 8 | 43.7% | 43 |
| Q2 2021 | $280.6M | 187 | 17 | 31 | 55 | 10 | 42.6% | 41 |
| Q1 2021 | $259.0M | 180 | 16 | 18 | 90 | 17 | 44.3% | 47 |
| Q4 2020 | $270.8M | 181 | 30 | 43 | 69 | 23 | 45.3% | 43 |
| Q3 2020 | $240.3M | 174 | 22 | 39 | 41 | 24 | 48.4% | 44 |
| Q2 2020 | $223.6M | 176 | 56 | 30 | 23 | 9 | 43.7% | 45 |
| Q1 2020 | $61.9M | 129 | 19 | 11 | 69 | 43 | 37.4% | 42 |
| Q4 2019 | $132.4M | 153 | 13 | 28 | 29 | 15 | 29.7% | 36 |
| Q3 2019 | $136.7M | 155 | 15 | 29 | 17 | 19 | 34.2% | 43 |
| Q2 2019 | $141.5M | 159 | 9 | 26 | 37 | 20 | 34.4% | 43 |
| Q1 2019 | $160.3M | 170 | 22 | 23 | 34 | 41 | 37.5% | 44 |
| Q4 2018 | $145.9M | 189 | 0 | 0 | 0 | 0 | 38.0% | 43 |
Rows marked UNVERIFIED ID, PLACEHOLDER ID, TICKER AS ID or NON-CUSIP ID carry an identifier that is not a valid CUSIP. They are shown because the filer reported that money, but treat the security named with caution - hover the chip for what is wrong with it, and see the methodology.
Held counts consecutive filings in which this manager reported the position, and can reach further back than the quarters listed above: the tabs begin at Q4 2018 because earlier coverage is too sparse to describe a market, but tenure is counted over every filing we hold, some reaching to 2007. A position sold and later rebought starts again from one.
Weight change is the shift in this position's share of the whole book, in percentage points. It is the more useful column: when money flows into or out of a broad fund, almost every holding is bought or sold at once, so added and trimmed largely track flows. A weight that rose while the book shrank is a decision. Both compare with the previous quarter this filer reported, not the previous calendar quarter.