Managers / Q1 2026
Karl Kapital LLC
CIK 0002058849 · 260 CALIFORNIA STREET, SUITE 803, SAN FRANCISCO, CA, 94111 · 415-503-5712
Summary
Karl Kapital LLC reported $144M in U.S.-listed holdings across 22 positions for Q1 2026.
Its largest position, ECPG, represents 10.8% of the portfolio.
Compared with Q4 2025, the fund opened 11 new positions and exited 7.
Portfolio Metrics
Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
Portfolio Composition
- Common Stock · 93.1% · $134M
- ADR · 4.5% · $7M
- Other · 2.4% · $3M
Quarter-over-Quarter Changes full breakdown →
vs Q4 2025 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| FUTUFUTU HLDGS LTD | NEW | +47.9K | 47.9K | +$7M | $7M |
| AFRMAFFIRM HLDGS INC | NEW | +140.3K | 140.3K | +$6M | $6M |
| LPLALPL FINL HLDGS INC | NEW | +18.0K | 18.0K | +$5M | $5M |
| ICEINTERCONTINENTAL EXCHANGE IN | NEW | +31.5K | 31.5K | +$5M | $5M |
| VLYVALLEY NATL BANCORP | NEW | +403.7K | 403.7K | +$5M | $5M |
| RKTROCKET COS INC | NEW | +344.6K | 344.6K | +$5M | $5M |
| AAMIACADIAN ASSET MANAGEMENT INC | NEW | +90.0K | 90.0K | +$5M | $5M |
| ENVAENOVA INTL INC | NEW | +34.6K | 34.6K | +$5M | $5M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q1 2026
Filing History
13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.