Karl Kapital LLC

Portfolio Overview

Karl Kapital LLC disclosed 22 positions worth $144.4M in its Form 13F-HR for Q1 2026, led by $ECPG (ENCORE CAPITAL GROUP INC) at 10.8% of the equity portfolio, followed by $FLYW and $SKWD. During the quarter the fund opened 11 new positions and exited 7 — including a new stake in $FUTU and a full exit from $WD. The portfolio is most concentrated in Financials (89.5% of disclosed assets). All figures are sourced directly from Karl Kapital LLC’s Form 13F-HR filing with the SEC under CIK 2058849.

• 

  ENCORE CAPITAL GROUP INC

  $ECPG

  64.5#633

  Quality

  $15.6M222,611 sh
• 

  Flywire Corp

  $FLYW

  56.2#1,120

  Quality

  $11.7M1,004,580 sh
• 

  Skyward Specialty Insurance Group, Inc.

  $SKWD

  69.3#375

  Quality

  $11.0M252,415 sh
• 

  CAPITAL ONE FINANCIAL CORP

  $COF

  71.0

  Quality

  $10.1M55,548 sh
• 

  S&P Global Inc.

  $SPGI

  79.4

  Quality

  $7.7M18,005 sh
• 

  UWM Holdings Corp

  $UWMC

  49.4

  Quality

  $7.3M2,012,105 sh
• 

  UMB FINANCIAL CORP

  $UMBF

  —

  Quality

  $7.0M62,314 sh
• 

  Futu Holdings Ltd

  $FUTU

  —

  Quality

  $6.6M47,947 sh
• 

  Affirm Holdings, Inc.

  $AFRM

  71.7

  Quality

  $6.4M140,290 sh
• 

  SEI INVESTMENTS CO

  $SEIC

  77.9

  Quality

  $5.7M72,140 sh

Company	Quality	Value	Shares
ENCORE CAPITAL GROUP INC$ECPG	64.5#633	$15.6M	222,611
Flywire Corp$FLYW	56.2#1,120	$11.7M	1,004,580
Skyward Specialty Insurance Group, Inc.$SKWD	69.3#375	$11.0M	252,415
CAPITAL ONE FINANCIAL CORP$COF	71.0	$10.1M	55,548
S&P Global Inc.$SPGI	79.4	$7.7M	18,005
UWM Holdings Corp$UWMC	49.4	$7.3M	2,012,105
UMB FINANCIAL CORP$UMBF	—	$7.0M	62,314
Futu Holdings Ltd$FUTU	—	$6.6M	47,947
Affirm Holdings, Inc.$AFRM	71.7	$6.4M	140,290
SEI INVESTMENTS CO$SEIC	77.9	$5.7M	72,140

Showing top 10 of 22 holdings.

Full Holdings — Karl Kapital LLC (Q1 2026)

All 22 disclosed positions from the latest Form 13F-HR, with quarter-over-quarter share changes and 13F Pro quality scores. Sourced from SEC EDGAR.

#	Ticker	Company	Value	Weight	QoQ	Quality
1	$ECPG	ENCORE CAPITAL GROUP INC	$15.6M	10.8%	-17%	64.5
2	$FLYW	Flywire Corp	$11.7M	8.1%	+37%	56.2
3	$SKWD	Skyward Specialty Insurance Group, Inc.	$11.0M	7.6%	+10%	69.3
4	$COF	CAPITAL ONE FINANCIAL CORP	$10.1M	7.0%	+106%	71
5	$SPGI	S&P Global Inc.	$7.7M	5.3%	+110%	79.4
6	$UWMC	UWM Holdings Corp	$7.3M	5.0%	+402%	49.4
7	$UMBF	UMB FINANCIAL CORP	$7.0M	4.9%	+20%	—
8	$FUTU	Futu Holdings Ltd	$6.6M	4.5%	NEW	—
9	$AFRM	Affirm Holdings, Inc.	$6.4M	4.5%	NEW	71.7
10	$SEIC	SEI INVESTMENTS CO	$5.7M	3.9%	+67%	77.9
11	$LPLA	LPL Financial Holdings Inc.	$5.4M	3.8%	NEW	61.8
12	$V	VISA INC.	$5.2M	3.6%	+6%	83.5
13	$ICE	Intercontinental Exchange, Inc.	$5.0M	3.4%	NEW	73.8
14	$VLY	VALLEY NATIONAL BANCORP	$5.0M	3.4%	NEW	—
15	$RKT	Rocket Companies, Inc.	$4.9M	3.4%	NEW	—
16	$AAMI	Acadian Asset Management Inc.	$4.9M	3.4%	NEW	62.2
17	$PGR	PROGRESSIVE CORP/OH/	$4.8M	3.4%	-19%	83.6
18	$RPC	Ridgepost Capital, Inc.	$4.7M	3.3%	-2%	53.3
19	$ENVA	Enova International, Inc.	$4.7M	3.3%	NEW	76.8
20	$BGC	BGC Group, Inc.	$3.8M	2.6%	NEW	69.9
21	$UBS	UBS Group AG	$3.5M	2.4%	NEW	—
22	$CCS	Century Communities, Inc.	$3.4M	2.4%	NEW	46.6