Water, Banks, and a Whole Lot of What?

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So, Shepherd Wealth Management, these guys, they decided to ditch Pathward Financial. Completely. Like, zero shares. Ten million dollars worth. Ten million! It’s not the money, it’s the principle of it. You build a position, you nurture it, and then just…poof? It’s like dating. You think things are going somewhere and then they just…ghost you. Financially. And nobody even calls to explain. I mean, what am I supposed to make of this? Is this some kind of statement? A silent protest against…what, exactly? Efficient banking?

What Happened, Really

According to the SEC filing – because everything needs a filing, doesn’t it? – they just unloaded all 15,726 shares of Pathward. Ten point oh six million. Gone. The paperwork says it’s a “liquidation.” Liquidation! Sounds so…final. Like they’re dismantling a small country. And the net effect? A ten million dollar decrease. You’d think they’d at least try to recoup some of it. It’s like throwing money into a well and hoping for a better credit score. It’s illogical!

The Rest of the Story (Because There Always Is)

  • After this whole debacle, Pathward Financial represents 0% of their holdings. Zero! Down from 6.7%. It’s like they’re sending a message. A very passive-aggressive message.
  • Their top holdings now? NASDAQ:PHO at $39.47 million, NASDAQ:NVDA at $11.99 million, NASDAQ:PLTR at $9.93 million, NASDAQ:TSLA at $9.14 million, and NYSEMKT:IWM at $6.35 million. It’s just a bunch of acronyms. It’s exhausting.
  • Pathward Financial’s stock is down 5.16% over the last year. Underperforming the S&P 500 by 17.67 percentage points. Seventeen point sixty-seven! What are they even doing over there?
  • They reported $724.3 million in revenue and $191.0 million in net income. Numbers. Just numbers. Meaningless without context.
  • Dividend yield is 0.27%. A pittance.

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The Company, Briefly (Because I Have a Life)

Metric Value
Price (as of 2026-01-20) $74.18
Market Capitalization $1.95 billion
Revenue (TTM) $724.3 million
Net Income (TTM) $191.0 million

What They Do (Apparently)

  • They offer banking products. Demand deposit accounts. Commercial finance. You know, the usual.
  • They make money from interest, fees, and prepaid cards. It’s a racket, frankly.
  • They serve commercial clients, consumers, and other financial institutions. Everyone’s taking a cut.

Pathward Financial is a diversified financial services provider. Innovative banking. Scalable business model. It’s all marketing speak. They’re a bank. They take your money and lend it to other people. What’s so complicated?

The Real Story: Water, Tech, and a Whole Lot of Risk

Okay, so here’s what really happened. Shepherd Wealth Management went on a spending spree…on water. Yes, water. They plowed 27% of their portfolio into the Invesco Water Resources ETF. Twenty-seven percent! That’s insane. It’s like betting the house on a leaky faucet. And they dumped Pathward Financial, Axon Enterprise, and slashed their tech holdings. They even bought Cameco, a uranium miner. Uranium! What is going on here? Are they preparing for the apocalypse?

This isn’t rebalancing. This is a full-blown panic. They’re clearly convinced that water is the next big thing. Most advisors limit single positions to 5-10%. These guys are at 27%! It’s reckless. It’s irresponsible. It’s…well, it’s a statement. A very loud, very expensive statement. And I, for one, am deeply disturbed. It’s just…wrong. Something’s off. I can feel it in my bones. And frankly, I don’t like it. Not one bit.

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2026-01-29 22:15