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Livermore
Livermore
ZHEN

Shepherd Kaplan Krochuk, LLC

SEC CIK
0001218583
Latest filing
Aug 14, 2026

The latest 13F from Shepherd Kaplan Krochuk, LLC covers Q2 2026 (filed Aug 14, 2026): 62 long positions worth $125.9M. The top 10 holdings make up 50.7% of the portfolio, and the largest is Vanguard Morningstar Total Stock Market ETF at 9.9%. Livermore has 22 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
3
Est. +$993.0K
Added
17
Est. +$7.04M
Reduced
27
Est. −$7.24M
Sold out
2
Est. −$2.73M

Top 5 holdings

Share of this quarter's portfolio value

  1. Vanguard Morningstar Total Stock Market ETF922908769
    9.9%$12.5M
  2. AAPLApple Inc.
    7.0%$8.80MHistory
  3. iShares MSCI USA Min Vol Factor ETF46429B697
    6.4%$8.10M
  4. VanEck ETF Trust92189F437
    6.4%$8.07M
  5. Schwab U.S. Large-Cap Value ETF808524409
    4.3%$5.46M

Biggest buys

New and added positions, by estimated amount bought

  1. First Tr Exchange-Traded FD336917109
    +$2.14MAdded
  2. IBMInternational Business Machines Corp
    +$1.46MAddedHistory
  3. Invesco Exchange Traded FD T46137V357
    +$633.2KAdded
  4. iShares MSCI USA Min Vol Factor ETF46429B697
    +$627.3KAdded
  5. Invesco Exch Traded FD Tr II46138E511
    +$549.3KAdded

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. First Tr Exchange-Traded FD336917109
    +1.55 pp1.6% → 3.2%
  2. IBMInternational Business Machines Corp
    +1.21 pp0.5% → 1.7%History
  3. Invesco Exchange Traded FD T46137V357
    +0.55 pp1.1% → 1.6%
  4. AAPLApple Inc.
    +0.50 pp6.5% → 7.0%History
  5. MSFTMicrosoft Corp
    +0.43 pp0.0% → 0.4%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. CPBCAMPBELL'S Co
    −$2.42MSold outHistory
  2. iShares MSCI USA Momentum Factor ETF46432F396
    −$1.53MReduced
  3. iShares Tr464288257
    −$1.41MReduced
  4. PIMCO ETF Tr72201R882
    −$1.14MReduced
  5. Schwab U.S. Large-Cap Value ETF808524409
    −$451.1KReduced

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. CPBCAMPBELL'S Co
    −2.04 pp2.0% → 0.0%History
  2. PIMCO ETF Tr72201R882
    −1.07 pp3.0% → 2.0%
  3. iShares Tr464288257
    −0.89 pp3.2% → 2.3%
  4. DOWDow Inc.
    −0.51 pp0.9% → 0.4%History
  5. DBX ETF Tr233051630
    −0.46 pp1.8% → 1.3%

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$125.9M
+$6.90M (+5.8%) vs. prior quarter
Positions
62
+1 vs. prior quarter
Top 10 concentration
50.7%
Top 10 as share of value
Turnover
6.6%
Q2 2026, one quarter
Average holding period
15.9 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

22 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $277.2M (Q2 2021)

Q1 2021: $256.2MQ2 2021: $277.2MQ3 2021: $269.1MQ4 2021: $274.5MQ1 2022: $261.1MQ2 2022: $226.4MQ3 2022: $198.8MQ4 2022: $168.6MQ1 2023: $113.4MQ2 2023: $126.4MQ3 2023: $115.1MQ4 2023: $123.0MQ1 2024: $125.3MQ2 2024: $126.6MQ3 2024: $132.6MQ4 2024: $119.6MQ1 2025: $116.8MQ2 2025: $115.1MQ3 2025: $121.8MQ4 2025: $121.1MQ1 2026: $119.0MQ2 2026: $125.9M
Q1 2021Q2 2026
13F filings of Shepherd Kaplan Krochuk, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 14, 202662$125.9MVanguard Morningstar Total Stock Market ETFAAPLiShares MSCI USA Min Vol Factor ETFvs. Q1 2026SEC
Q1 2026May 15, 202661$119.0MVanguard Morningstar Total Stock Market ETFVanEck ETF TrustAAPLvs. Q4 2025SEC
Q4 2025Feb 13, 202664$121.1MVanguard Morningstar Total Stock Market ETFVanEck ETF TrustAAPLvs. Q3 2025SEC
Q3 2025Nov 13, 202561$121.8MVanEck ETF TrustVanguard Morningstar Total Stock Market ETFAAPLvs. Q2 2025SEC
Q2 2025Aug 14, 202557$115.1MVanEck ETF TrustiShares MSCI USA Min Vol Factor ETFAAPLvs. Q1 2025SEC
Q1 2025May 15, 202558$116.8MVanEck ETF TrustiShares MSCI USA Min Vol Factor ETFAAPLvs. Q4 2024SEC
Q4 2024Feb 14, 202551$119.6MiShares Trust iShares 0-1 Year Treasury Bond ETFVanEck ETF TrustAAPLvs. Q3 2024SEC
Q3 2024Nov 14, 202455$132.6MAAPLVanEck ETF TrustiShares MSCI USA Min Vol Factor ETFvs. Q2 2024SEC
Q2 2024Aug 14, 202457$126.6MAAPLiShares MSCI USA Min Vol Factor ETFCPBvs. Q1 2024SEC
Q1 2024May 15, 202455$125.3MAAPLiShares MSCI USA Min Vol Factor ETFVanEck ETF Trustvs. Q4 2023SEC
Q4 2023Feb 14, 202454$123.0MAAPLVanEck ETF TrustInvesco Exch Traded FD Tr IIvs. Q3 2023SEC
Q3 2023Nov 14, 202352$115.1MAAPLVanEck ETF TrustInvesco Exch Traded FD Tr IIvs. Q2 2023SEC
Q2 2023Aug 14, 202352$126.4MiShares TrAAPLVanEck ETF Trustvs. Q1 2023SEC
Q1 2023May 11, 202355$113.4MAAPLVanEck ETF TrustiShares MSCI USA Momentum Factor ETFvs. Q4 2022SEC
Q4 2022Feb 14, 202371$168.6MEQTCRCVanEck ETF Trustvs. Q3 2022SEC
Q3 2022Nov 9, 2022140$198.8MEQTCRCVanEck ETF Trustvs. Q2 2022SEC
Q2 2022Aug 12, 2022180$226.4MEQTCRCInvesco Exch Traded FD Tr IIvs. Q1 2022SEC
Q1 2022May 6, 2022182$261.1MEQTSPDR Series TrustCRCvs. Q4 2021SEC
Q4 2021Feb 14, 2022186$274.5MSPDR Series TrustEQTVanEck ETF Trustvs. Q3 2021SEC
Q3 2021Nov 12, 2021186$269.1MSPDR Series TrustEQTVanEck ETF Trustvs. Q2 2021SEC
Q2 2021Aug 10, 2021183$277.2MEQTSPDR Series TrustInvesco Exch Traded FD Tr IIvs. Q1 2021SEC
Q1 2021May 17, 2021175$256.2MEQTSPDR Series TrustVanguard Mortgage-Backed Securities ETF–SEC