Karl Kapital LLC
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Karl Kapital LLC reported 22 stock positions worth $144.4 million. Its top holding was Encore Capital (ECPG) at 10.8% of the portfolio, followed by Flywire Corp.-Voting (FLYW, 8.1%) and Skyward Specialty Insurance (SKWD, 7.6%). Compared with Q4 2025, it opened 11 new positions, sold out of 7, added to 8 and reduced 3. The biggest buy was a new position in Futu Holdings Ltd.-ADR (FUTU) and the biggest sale an exit from Walker & Dunlop (WD).
- Most Recent 13F
- Q2 2026
- Location
- SAN FRANCISCO, CA
- CIK
- 0002058849
- Portfolio Value
- $144.4M (Q1 2026)
- SEC Filing
- 0001214659-26-006458 ↗ filed May 15, 2026
Holdings Value
Holdings 22 stocks · $144.4M
| ECPG Encore Capital Group Inc. | 10.81% | 222,611 | $15.6M | Reduce -16.9% |
| FLYW Flywire Corp.-Voting | 8.10% | 1,004,580 | $11.7M | Add +37.4% |
| SKWD Skyward Specialty Insurance | 7.64% | 252,415 | $11.0M | Add +9.8% |
| COF Capital One Financial Corp. | 7.02% | 55,548 | $10.1M | Add +105.5% |
| SPGI S&P Global Inc. | 5.31% | 18,005 | $7.7M | Add +110.0% |
| UWMC Uwm Holdings Corp. | 5.05% | 2,012,105 | $7.3M | Add +402.0% |
| UMBF Umb Financial Corp. | 4.87% | 62,314 | $7.0M | Add +20.5% |
| FUTU Futu Holdings Ltd.-ADR filed as FUTU HLDGS LTD | 4.54% | 47,947 | $6.6M | New |
| AFRM Affirm Holdings Inc. | 4.45% | 140,290 | $6.4M | New |
| SEIC Sei Investments Company | 3.92% | 72,140 | $5.7M | Add +67.5% |
| LPLA LPL Financial Holdings Inc. | 3.75% | 17,994 | $5.4M | New |
| V Visa Inc. Class A | 3.62% | 17,286 | $5.2M | Add +5.7% |
| ICE Intercontinental Exchange Inc. | 3.43% | 31,523 | $5.0M | New |
| VLY Valley National Bancorp | 3.43% | 403,720 | $5.0M | New |
| RKT Rocket Cos Inc. Class A | 3.40% | 344,556 | $4.9M | New |
| AAMI Acadian Asset Management Inc. | 3.39% | 90,048 | $4.9M | New |
| PGR Progressive Corp. | 3.36% | 24,451 | $4.8M | Reduce -19.1% |
| RPC Ridgepost Capital Inc. Class A | 3.27% | 651,082 | $4.7M | Reduce -1.9% |
| ENVA Enova International Inc. | 3.26% | 34,641 | $4.7M | New |
| BGC BGC Group Inc. Class A | 2.60% | 383,974 | $3.8M | New |
| UBS UBS Group AG-Reg | 2.41% | 88,866 | $3.5M | New |
| CCS Century Communities Inc. | 2.36% | 59,355 | $3.4M | New |
Portfolio Sells Q4 2025 → Q1 2026
| WD Walker & Dunlop Inc. | Sold out | 0.00% | −6.22 |
| TWO Two Harbors Investment Corp. | Sold out | 0.00% | −5.40 |
| INVH Invitation Homes Inc. | Sold out | 0.00% | −4.72 |
| WLTH Wealthfront Corp. | Sold out | 0.00% | −4.61 |
| AMG Affiliated Managers Group | Sold out | 0.00% | −3.81 |
| EFX Equifax Inc. | Sold out | 0.00% | −3.09 |
| SF Stifel Financial Corp. | Sold out | 0.00% | −2.95 |
| PGR Progressive Corp. | Reduce -19.1% | 3.36% | −2.74 |
| RPC Ridgepost Capital Inc. Class A | Reduce -1.9% | 3.27% | −2.50 |
| ECPG Encore Capital Group Inc. | Reduce -16.9% | 10.81% | −2.09 |
Portfolio Buys Q4 2025 → Q1 2026
| FUTU Futu Holdings Ltd.-ADR | New | 4.54% | +4.54 |
| AFRM Affirm Holdings Inc. | New | 4.45% | +4.45 |
| LPLA LPL Financial Holdings Inc. | New | 3.75% | +3.75 |
| UWMC Uwm Holdings Corp. | Add +402.0% | 5.05% | +3.49 |
| ICE Intercontinental Exchange Inc. | New | 3.43% | +3.43 |
| VLY Valley National Bancorp | New | 3.43% | +3.43 |
| RKT Rocket Cos Inc. Class A | New | 3.40% | +3.40 |
| AAMI Acadian Asset Management Inc. | New | 3.39% | +3.39 |
| ENVA Enova International Inc. | New | 3.26% | +3.26 |
| BGC BGC Group Inc. Class A | New | 2.60% | +2.60 |
| UBS UBS Group AG-Reg | New | 2.41% | +2.41 |
| CCS Century Communities Inc. | New | 2.36% | +2.36 |
| SPGI S&P Global Inc. | Add +110.0% | 5.31% | +1.33 |
| COF Capital One Financial Corp. | Add +105.5% | 7.02% | +1.21 |
| SEIC Sei Investments Company | Add +67.5% | 3.92% | +0.79 |
| UMBF Umb Financial Corp. | Add +20.5% | 4.87% | −0.41 |
| FLYW Flywire Corp.-Voting | Add +37.4% | 8.10% | −1.08 |
| V Visa Inc. Class A | Add +5.7% | 3.62% | −1.47 |
| SKWD Skyward Specialty Insurance | Add +9.8% | 7.64% | −2.78 |