Form D · Hedge Fund

SHEPHERD I L P

New York, NY · CIK 0001286470

Offering snapshot reported Jul 29, 2026 · SEC filing

Reported sold
$56M
Indefinite offering
Investors reported
26
Form D · investor count
Minimum accepted
$500K
Reported outside-investor minimum
First sale
Apr 1, 2004
As reported in this filing

Fundraising history

Reported sold
Reported amount sold by Form D filing date$0$28M$56MAug 14, 2025: $56,000,000.00Aug 14, 2025Jul 29, 2026: $56,000,000.00Jul 29, 2026

Dates are filing dates, not cash receipt dates. Decreases are reported revisions, not evidence of withdrawals. Separate offering histories are not added together.

What changed?

Latest filing versus its linked predecessor, where available.

No comparable changes in the displayed metrics.

Filing history

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FiledFiling typeReported soldChange vs linked filingInvestorsSource
Jul 29, 2026Amendment$56,000,000$0vs Aug 14, 202526SEC filing
Aug 14, 2025Amendment$56,000,000No comparisonNot reportedSEC filing
May 31, 2024Amendment$56,000,000$0vs May 12, 202341SEC filing
May 12, 2023Amendment$56,000,000$0vs Apr 7, 202241SEC filing
Apr 7, 2022Amendment$56,000,000$1,000,000vs Mar 15, 202141SEC filing
Mar 15, 2021Amendment$55,000,000$35,588,570vs Feb 18, 202040SEC filing
Feb 18, 2020Amendment$19,411,430$0vs Feb 28, 201939SEC filing
Feb 28, 2019Amendment$19,411,430$50,000vs Feb 28, 201839SEC filing
Feb 28, 2018Amendment$19,361,430$10,000vs Mar 8, 201750SEC filing
Mar 8, 2017Amendment$19,351,430$0vs Feb 22, 201650SEC filing
Feb 22, 2016Amendment$19,351,430$0vs Dec 8, 201550SEC filing
Dec 8, 2015Amendment$19,351,430$50,000vs Mar 19, 201550SEC filing
Mar 19, 2015Amendment$19,301,430$0vs Feb 24, 201550SEC filing
Feb 24, 2015Amendment$19,301,430-$1,140,584vs Feb 19, 201450SEC filing
Feb 19, 2014Amendment$20,442,014$0vs Dec 23, 201347SEC filing
Dec 23, 2013Initial$20,442,014No comparison47SEC filing
Sep 18, 2013Initial$18,812,296No comparison47SEC filing
May 18, 2012Amendment$19,902,421No comparison50SEC filing

Offering details

Securities
Pooled investment fund
Exemptions
06b, 3C, 3C.1
Duration over one year
Yes
Business combination
No
Sales commissions
$0
Finders' fees
$0
Form D file number
021-208607
Approximate amount indicated since Fund's inception. Item 14 Note: The number of investors reflects the number of investors currently in the Fund. There have been additional investors since the beginning of the Fund's initial offering.
Compensation to the private placement and servicing agent, if applicable, is not paid from fund expenses.

Sales compensation recipients

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RecipientCRDAssociated broker-dealer
HRC Fund Associates, LLC142846HRC Fund Associates, LLC · CRD 142846

Source: Form D, filed Jul 29, 2026. Minimum accepted may differ from a standard advertised minimum.

Fund connections

The linked fund shows its most recently reported ADV details.

Matched by reported Form D file number

SHEPHERD I, LP

Investment adviser: MSRH, LLC

Gross asset value
$82.7M
Beneficial owners
31
ADV minimum commitment
$500K

Reported in Form ADV on Jul 2, 2026. Fund assets and beneficial owners measure different things from Form D sales and investors.

Service providers

Fund administrator UMB FUND SERVICES CHADDS FORD, Pennsylvania, United States Investor statements: Yes (provided to all investors) Related to adviser: No
Auditor COHEN FUND SERVICES, LTD. WESTLAKE, Ohio, United States
Custodian FIDELITY BROKERAGE SERVICES LLC NEW YORK, New York, United States Related to adviser: No
Marketer HRC FUND ASSOCIATES, LLC NEW YORK, New York, United States Related to adviser: Yes
Prime broker FIDELITY BROKERAGE SERVICES LLC NEW YORK, New York, United States
Provider details
Annual audit
Yes
Prime brokers
Yes
Custodians
Yes
Administrator other than the adviser
Yes
External marketing
Yes

COHEN FUND SERVICES, LTD.
PCAOB 925

FIDELITY BROKERAGE SERVICES LLC
SEC 8-23292

HRC FUND ASSOCIATES, LLC
CRD 142846 · SEC 8-67496

FIDELITY BROKERAGE SERVICES LLC
CRD 7784 · SEC 8-23292

Filing source

Form ADV 2115836 · Jul 2, 2026 · Schedule D 7.B.(1), fund 805-4327399914

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

People & organizations

Current and past Form D appearances. These existing records do not establish a person's current role or uniquely identify them across issuers.

People and organizations reported in Form D filings
NameReported role
Nicholas Albanese Promoter
Scott D. Daniels Promoter
N/A Estate Of Murray Stahl Director
Victor J. Fontana Promoter
Raymond Hill Director, Executive, Promoter
N/A Msrh, Llc Executive
Timothy W. Reick Promoter
Murray Stahl Director, Executive

Issuer details

Industry: Pooled Investment Fund (See others in industry)

Address:
88 Pine Street Suite 3101
New York, NY, 10005