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Kaspi.kz JSC

162 hedge funds and large institutions have $6.38B invested in Kaspi.kz JSC in 2025 Q2 according to their latest regulatory filings, with 14 funds opening new positions, 65 increasing their positions, 61 reducing their positions, and 42 closing their positions.

New
Increased
Maintained
Reduced
Closed

50% more call options, than puts

Call options by funds: $12.8M | Put options by funds: $8.54M

7% more repeat investments, than reductions

Existing positions increased: 65 | Existing positions reduced: 61

9.15% less ownership

Funds ownership: 46.8%37.66% (-9.1%)

14% less funds holding in top 10

Funds holding in top 10: 2118 (-3)

15% less funds holding

Funds holding: 191162 (-29)

23% less capital invested

Capital invested by funds: $8.26B → $6.38B (-$1.88B)

67% less first-time investments, than exits

New positions opened: 14 | Existing positions closed: 42

Holders
162
Holders Change
-29
Holders Change %
-15.18%
% of All Funds
2.13%
Holding in Top 10
18
Holding in Top 10 Change
-3
Holding in Top 10 Change %
-14.29%
% of All Funds
0.24%
New
14
Increased
65
Reduced
61
Closed
42
Calls
$12.8M
Puts
$8.54M
Net Calls
+$4.25M
Net Calls Change
-$7.87M
Name Holding Trade Value Shares
Change
Change in
Stake
Pictet Asset Management
76
Pictet Asset Management
Switzerland
$4.21M -$4.69M -54,984 -53%
Macquarie Group
77
Macquarie Group
Australia
$3.96M +$472K +5,530 +13%
BBA
78
Baader Bank Aktiengesellschaft
Germany
$3.29M -$210K -2,461 -6%
EWM
79
Evergreen Wealth Management
Michigan
$3.2M +$100K +1,178 +3%
TI
80
Tidal Investments
Wisconsin
$2.91M -$172K -2,022 -6%
AAIS
81
ABN AMRO Investment Solutions
$2.72M +$87.2K +1,022 +3%
CCM
82
Cullen Capital Management
New York
$2.7M -$3.84M -44,980 -59%
DI
83
DUMAC Inc
North Carolina
$2.67M
Millennium Management
84
Millennium Management
New York
$2.67M -$13.9M -162,400 -84%
Qube Research & Technologies (QRT)
85
Qube Research & Technologies (QRT)
United Kingdom
$2.57M -$3.36M -39,383 -57%
ADEF
86
ABS Direct Equity Fund
Connecticut
$2.52M
SG Americas Securities
87
SG Americas Securities
New York
$2.43M +$1.01M +11,805 +70%
Citadel Advisors
88
Citadel Advisors
Florida
$2.37M +$1.96M +22,970 +466%
AC
89
Amitell Capital
Singapore
$2.33M +$1.08M +12,611 +85%
CC
90
Cannell Capital
Wyoming
$2.27M +$2.28M +26,713 New
PCM
91
Prelude Capital Management
New York
$2.27M +$2.28M +26,713 New
JF
92
Jump Financial
Illinois
$2.16M +$2.17M +25,400 New
MICM
93
Matthews International Capital Management
California
$2.12M +$2.13M +24,941 New
Acadian Asset Management
94
Acadian Asset Management
Massachusetts
$1.97M -$729K -8,542 -27%
Flossbach Von Storch
95
Flossbach Von Storch
Germany
$1.83M -$299K -3,500 -14%
UBS Group
96
UBS Group
Switzerland
$1.61M -$3.15M -36,939 -66%
BNP Paribas Financial Markets
97
BNP Paribas Financial Markets
France
$1.59M +$1.07M +12,568 +203%
CFM
98
Capricorn Fund Managers
United Kingdom
$1.44M
VF
99
Virtu Financial
New York
$1.27M -$7.85K -92 -0.6%
State Street
100
State Street
Massachusetts
$1.22M -$1.95M -22,877 -61%

KSPI Hedge Fund Activity: Q2 2025 in Review

162 of the 7,595 institutional investors tracked by Wall St. Rank reported a position in Kaspi.kz JSC (KSPI) for Q2 2025, worth a combined $6.38B — down 23% from $8.26B a quarter earlier.

Sellers outnumbered buyers: 42 funds closed out of KSPI and 14 opened new positions — a net loss of 28 holders — while 61 trimmed existing stakes and 65 added.

The largest buyer was Fidelity Investments, adding an estimated $34.4M. The largest seller was Baring Fintech Fund III Managers, cutting an estimated $1.05B.

  • 162 institutional investors held Kaspi.kz JSC (KSPI) as of Q2 2025, down from 191 in Q1 2025.
  • Funds reported $6.38B of Kaspi.kz JSC stock for Q2 2025, down 23% quarter-over-quarter.
  • 14 funds opened new Kaspi.kz JSC positions in Q2 2025 and 42 closed out, a net change of -28 holders.
  • The largest Kaspi.kz JSC buyer in Q2 2025 was Fidelity Investments, an estimated $34.4M added.
  • The largest Kaspi.kz JSC seller in Q2 2025 was Baring Fintech Fund III Managers, an estimated $1.05B sold.

Based on aggregated 13F filings for Q2 2025.