Karl Kapital LLC
Long book
$144.4M
Q1 2026
Positions
22
Top-10 weight
62%
concentration
Last quarter
+22.5%
SPY +14.8%
Turnover
62%
of book per quarter
Strategy in plain words
auto-generated from filingsKarl Kapital LLC is a concentrated fundamental stock-picker, specialised in financials (81% of the long book), running a $144.4M US long book across 22 positions.
The portfolio is concentrated: the top 10 names carry 62% of the portfolio. Turnover is high — positions rotate quickly, so individual names matter less than the process. Current anchor positions: ENCORE CAPITAL GROUP INC, FLYWIRE CORP-VOTING, SKYWARD SPECIALTY INSURANCE, CAPITAL ONE FINANCIAL CORP, S&P GLOBAL INC.
We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q4 2025
-8.4%
Q1 2026
+22.5%
Sector allocation
Financials 80%
Services media 18%
Industrials 2%
Long book by quarter
What does Karl Kapital own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| ECPG ENCORE CAPITAL GROUP INC | Financials | 222.6K | $15.6M | 10.8% | -16.9% |
| FLYW FLYWIRE CORP-VOTING | Services media | 1.0M | $11.7M | 8.1% | +37.4% |
| SKWD SKYWARD SPECIALTY INSURANCE | Financials | 252.4K | $11.0M | 7.6% | +9.8% |
| COF CAPITAL ONE FINANCIAL CORP | Financials | 55.5K | $10.1M | 7.0% | +105.5% |
| SPGI S&P GLOBAL INC | Services media | 18.0K | $7.7M | 5.3% | +110.0% |
| UWMC UWM HOLDINGS CORP | Financials | 2.0M | $7.3M | 5.0% | +402.0% |
| UMBF UMB FINANCIAL CORP | Financials | 62.3K | $7.0M | 4.9% | +20.5% |
| AFRM AFFIRM HOLDINGS INC | Financials | 140.3K | $6.4M | 4.5% | New |
| SEIC SEI INVESTMENTS COMPANY | Financials | 72.1K | $5.7M | 3.9% | +67.5% |
| LPLA LPL FINANCIAL HOLDINGS INC | Financials | 18.0K | $5.4M | 3.7% | New |
| V VISA INC-CLASS A SHARES | Services media | 17.3K | $5.2M | 3.6% | +5.7% |
| ICE INTERCONTINENTAL EXCHANGE IN | Financials | 31.5K | $5.0M | 3.4% | New |
| VLY VALLEY NATIONAL BANCORP | Financials | 403.7K | $5.0M | 3.4% | New |
| RKT ROCKET COS INC-CLASS A | Financials | 344.6K | $4.9M | 3.4% | New |
| AAMI ACADIAN ASSET MANAGEMENT INC | Financials | 90.0K | $4.9M | 3.4% | New |
| PGR PROGRESSIVE CORP | Financials | 24.5K | $4.8M | 3.4% | -19.1% |
| RPC RIDGEPOST CAPITAL INC-A | Financials | 651.1K | $4.7M | 3.3% | -1.9% |
| ENVA ENOVA INTERNATIONAL INC | Financials | 34.6K | $4.7M | 3.3% | New |
| BGC BGC GROUP INC-A | Financials | 384.0K | $3.8M | 2.6% | New |
| UBS UBS GROUP AG-REG | Financials | 88.9K | $3.5M | 2.4% | New |
| CCS CENTURY COMMUNITIES INC | Industrials | 59.4K | $3.4M | 2.4% | New |