Shepherd Kaplan Krochuk, Llc
SEC-registered
Institutional / Pension Advisor · Large ($10B–$100B)
CRD 127304
· SEC file 801-62286
· Boston, MA
· www.linkedin.com
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ADV data as of Mar 31, 2026
- Regulatory AUM
- $10.9B
- Discretionary
- $2.1B
- Clients
- 213
- Avg AUM / client
- $51.1M
- Accounts
- 1,405
- Employees
- 34
AUM over time
$211M
$10.9B
Dec 2011
Dec 2025
Annual snapshots from Form ADV filings · as of Mar 31, 2026
Asset allocation (SMA assets by investment type)
as of Mar 31, 2026
Registered investment companies (funds/ETFs)
$7.4B
68%
Pooled investment vehicles
$1.2B
11%
Exchange-traded equities
$980M
9%
Cash & equivalents
$653M
6%
Non-exchange-traded equities
$327M
3%
US government & agency bonds
$109M
1%
State & local bonds
$109M
1%
Investment-grade corporate bonds
$109M
1%
Share of SMA assets by investment vehicle type, as filed in Form ADV Item 5.K. Dollar figures are percentages applied to total regulatory AUM.
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| Individuals (non-high net worth) | 6 | $1.8M | 0.02% |
| High net worth individuals | 83 | $1.6B | 14.4% |
| Pooled investment vehicles (non-investment companies) | 16 | $1.2B | 11.0% |
| Pension and profit sharing plans | 18 | $7.4B | 67.9% |
| Charitable organizations | 22 | $183M | 1.69% |
| Corporations and other businesses | 68 | $546M | 5.02% |
Private funds (49)
View all →Reported in Form ADV Section 7.B.(1), filing of Mar 2024 · $514M combined gross assets
| Fund | Type | Domicile | Gross assets | Owners |
|---|---|---|---|---|
| Skk Opportunity Zone Fund Ii, Lp | Real Estate Fund | Delaware | $55.2M | 47 |
| Skk Opportunity Zone Fund I, Llc | Real Estate Fund | Delaware | $46.5M | 58 |
| Skk Re Ventures Fund Ii, Lp | Real Estate Fund | Delaware | $40.6M | 84 |
| Skk Ventures Qp, Llc Series Bd2 | Venture Capital Fund | Delaware | $35.3M | 242 |
| Skk Provident Investors, Lp | Private Equity Fund | Delaware | $32.7M | 69 |
| Kairos Skk Envirokure Investors, Lp | Private Equity Fund | Delaware | $32.5M | 97 |
| Skk Ventures Qp, Llc Series Ct0 | Venture Capital Fund | Delaware | $28.5M | 163 |
| Skk Global Partners Property Fund I, Lp | Real Estate Fund | Delaware | $28.3M | 30 |
| Skk Fhr Industrial Fund I, Lp | Real Estate Fund | Delaware | $27.9M | 21 |
| Skk Re Ventures Fund Ii Pfd, Lp | Real Estate Fund | Delaware | $25.7M | 28 |
| Skk Ventures Qp, Llc Series Bd0 | Venture Capital Fund | Delaware | $21.7M | 72 |
| Skk Ventures, Llc Series Bd0 | Venture Capital Fund | Delaware | $18.2M | 55 |
| Skk Ventures Qp, Llc Series Wg5 | Venture Capital Fund | Delaware | $15.7M | 101 |
| Skk Ventures Qp, Llc Series Bd1 | Venture Capital Fund | Delaware | $14.3M | 71 |
| Skk 9 I Ventures Qp, Llc Series At0 | Venture Capital Fund | Delaware | $11.0M | 37 |
Retirement plan clients
Plans that reported this firm as an investment service provider on Form 5500 Schedule C.
| Plan | Location | Plan year |
|---|---|---|
| Mondi Retirement Savings Plan Usa Mondi U.S. Holdings Llc | 2024 | |
| American Commercial Barge Line Llc Pension Plan American Commercial Barge Line Llc | 2024 | |
| Holyoke Medical Center, Inc. 403(b) Retirement Plan Holyoke Medical Center, Inc. | 2024 |
People (7)
roster as of Jul 20, 2026| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Krochuk, Timothy, Adam | Management Board | Jun 2001 (25y) | ≈ 7.5% – 25% via Iaft Holdings, Inc. | |
| Dilorenzo, Peter, John | Chief Operating Officer; Chief Information Security Officer | Jan 2016 (11y) | Less than 5% | |
| David Charles Kaplan | Management Board | Nov 2017 (9y) | ≈ 7.5% – 25% via Gemini Holdings, Inc. | |
| David Morris Shepherd | Management Board | Nov 2017 (9y) | ≈ 18.75% – 50% via Frog Holdings, Inc. | |
| Brackett, Stephen, Michael | Management Board, President | Aug 2019 (7y) | ≈ 7.5% – 25% via Brackett Holdings, Inc. | |
| Brian David Lockhart | Management Board | Feb 2020 (7y) | ≈ 7.5% – 25% via Venture Capital Consulting Llc | |
| Dodge, Bayard, Nmn | Chief Compliance Officer | Mar 2023 (3y) | Less than 5% |
Entity owners (Schedule A/B)
| Entity | Title / status | Since | Sch. | Ownership |
|---|---|---|---|---|
| Frog Holdings, Inc. | Member | Jan 2020 | A | 25% – 50% |
| Gemini Holdings, Inc. | Member | Jan 2020 | A | 10% – 25% |
| Iaft Holdings, Inc. | Member | Jan 2020 | A | 10% – 25% |
| Brackett Holdings, Inc. | Member | Jan 2020 | A | 10% – 25% |
| Venture Capital Consulting Llc | Member | Feb 2020 | A | 10% – 25% |
Estimated effective ownership (look-through of filed bands):
- Krochuk, Timothy, Adam: 75% – 100% of Iaft Holdings, Inc. × 10% – 25% direct ≈ 7.5% – 25% of the firm
- David Charles Kaplan: 75% – 100% of Gemini Holdings, Inc. × 10% – 25% direct ≈ 7.5% – 25% of the firm
- David Morris Shepherd: 75% – 100% of Frog Holdings, Inc. × 25% – 50% direct ≈ 18.75% – 50% of the firm
- Brackett, Stephen, Michael: 75% – 100% of Brackett Holdings, Inc. × 10% – 25% direct ≈ 7.5% – 25% of the firm
- Brian David Lockhart: 75% – 100% of Venture Capital Consulting Llc × 10% – 25% direct ≈ 7.5% – 25% of the firm
Roster from the IAPD representatives feed; ownership and acquisition dates from Form ADV Schedule A/B. "Since" is the earliest filed registration or acquisition date.
Private funds (49, $514M gross assets)
| Fund | Type | Gross assets | Min. investment | Owners |
|---|---|---|---|---|
| Skk Opportunity Zone Fund Ii, Lp | Real Estate Fund | $55.2M | $250K | 47 |
| Skk Opportunity Zone Fund I, Llc | Real Estate Fund | $46.5M | $500K | 58 |
| Skk Re Ventures Fund Ii, Lp | Real Estate Fund | $40.6M | $500K | 84 |
| Skk Ventures Qp, Llc Series Bd2 | Venture Capital Fund | $35.3M | $250K | 242 |
| Skk Provident Investors, Lp | Private Equity Fund | $32.7M | $1.0M | 69 |
| Kairos Skk Envirokure Investors, Lp | Private Equity Fund | $32.5M | $250K | 97 |
| Skk Ventures Qp, Llc Series Ct0 | Venture Capital Fund | $28.5M | $250K | 163 |
| Skk Global Partners Property Fund I, Lp | Real Estate Fund | $28.3M | $500K | 30 |
| Skk Fhr Industrial Fund I, Lp | Real Estate Fund | $27.9M | $1.0M | 21 |
| Skk Re Ventures Fund Ii Pfd, Lp | Real Estate Fund | $25.7M | $100K | 28 |
| Skk Ventures Qp, Llc Series Bd0 | Venture Capital Fund | $21.7M | $250K | 72 |
| Skk Ventures, Llc Series Bd0 | Venture Capital Fund | $18.2M | $100K | 55 |
| Skk Ventures Qp, Llc Series Wg5 | Venture Capital Fund | $15.7M | $250K | 101 |
| Skk Ventures Qp, Llc Series Bd1 | Venture Capital Fund | $14.3M | $250K | 71 |
| Skk 9 I Ventures Qp, Llc Series At0 | Venture Capital Fund | $11.0M | $250K | 37 |
| Skk Ventures, Llc Series Ct0 | Venture Capital Fund | $9.5M | $100K | 44 |
| Skk 9 I Ventures Qp, Llc Series Tr0 | Venture Capital Fund | $8.8M | $250K | 67 |
| Skk 9 I Ventures Qp, Llc Series Et0 | Venture Capital Fund | $7.0M | $250K | 44 |
| Skk 9 I Ventures Qp, Llc Series Tr1 | Venture Capital Fund | $6.5M | $250K | 57 |
| Skk 9 I Ventures Qp, Llc Series Et1 | Venture Capital Fund | $4.4M | $250K | 29 |
| Skk Cayo Largo Development, Lp | Real Estate Fund | $4.2M | $250K | 47 |
| Skk Ventures, Llc Series Eg1 | Venture Capital Fund | $4.1M | $100K | 1 |
| Skk Ventures Qp, Llc Series Wg4 | Venture Capital Fund | $3.5M | $250K | 18 |
| Skk 9 I Ventures Qp, Llc Series Qm0 | Venture Capital Fund | $3.2M | $250K | 15 |
| Skk Ventures, Llc Series Wg5 | Venture Capital Fund | $2.9M | $100K | 16 |
Top 25 of 49 funds by gross assets · all funds
From Form ADV Section 7.B private fund reporting.
Retirement plans served (3)
| Plan | Sponsor | Participants | Plan assets | As of |
|---|---|---|---|---|
| Mondi Retirement Savings Plan Usa | Mondi U.S. Holdings Llc | 1,167 | $134M | 01/01/2024 |
| American Commercial Barge Line Llc Pension Plan | American Commercial Barge Line Llc | 188 | $171M | 01/01/2024 |
| Holyoke Medical Center, Inc. 403(b) Retirement Plan | Holyoke Medical Center, Inc. | 2,162 | $70.5M | 01/01/2024 |
From Form 5500 service-provider disclosures.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 03/31/2026 | 12.8 MB | View · PDF · Source ↗ |
Archived copies of the firm's regulatory filings, versioned by content hash.
Disciplinary disclosures
Regulatory · Item 11.D(4)
as of Mar 28, 2024
Allegations: FAILURE TO DISCLOSE, IN WRITING, A MATERIAL CONFLICT OF INTEREST RELATING TO OUTSIDE BUSINESS ACTIVITIES IN CONNECTION WITH THE ADVISORY AFFILIATE'S INVOLVEMENT IN THE PRODUCTION OF A FILM. Status: Final Sanction Detail: N/A Summary: ACTION WAS RESOLVED
Disclosure text reproduced verbatim from the firm's own Form ADV filings.
How they charge
- • Percentage of assets under management
- • Performance-based fees
Services
- • Financial planning services
- • Portfolio management for individuals/small businesses
- • Portfolio management for pooled investment vehicles
- • Portfolio management for businesses/institutional clients
- • Pension consulting services
- • Selection of other advisers
Custody
Reported custodians
- Northern Trust $5.1B (47% of AUM) Mar 2026
- State Street $3.8B (43% of AUM) Mar 2024
- Principal Financial $985M (10% of AUM) Mar 2025
- Wells Fargo $925M (12% of AUM) Jan 2022
- Charles Schwab & Co. $652M (11% of AUM) Jan 2020
- Barclays Capital Inc. $17.4M (8% of AUM) Nov 2017
- Morgan Stanley $5.8M (3% of AUM) Nov 2017
Amounts as reported in ADV Item 5.K.(3) (custodians holding 10%+ of SMA assets).
Firm reports it does not have custody of client funds or securities (Item 9.A).
Source
All data on this page comes from this firm's Form ADV filings, reproduced without modification. Latest filing: Mar 31, 2026.
View current Form ADV (SEC/IAPD) ↗