Kaspi.kz JSC
KSPI
165 hedge funds and large institutions have $6.27B invested in Kaspi.kz JSC in 2026 Q1 according to their latest regulatory filings, with 21 funds opening new positions, 65 increasing their positions, 59 reducing their positions, and 27 closing their positions.
16% more funds holding in top 10
Funds holding in top 10: 19 → 22 (+3)
10% more repeat investments, than reductions
Existing positions increased: 65 | Existing positions reduced: 59
0.35% less ownership
Funds ownership: 42.79% → 42.44% (-0.35%)
5% less funds holding
Funds holding: 174 → 165 (-9)
6% less capital invested
Capital invested by funds: $6.67B → $6.27B (-$400M)
22% less first-time investments, than exits
New positions opened: 21 | Existing positions closed: 27
67% less call options, than puts
Call options by funds: $9.09M | Put options by funds: $27.4M
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
NOSC
North of South Capital
London,
United Kingdom
|
+$41.6M |
| 2 |
MG
Marex Group
London,
|
+$41.4M |
| 3 |
Capital World Investors
Los Angeles,
California
|
+$34.5M |
| 4 |
Baillie Gifford & Co
Edinburgh,
United Kingdom
|
+$34M |
| 5 |
UBS Group
Zurich,
Switzerland
|
+$30.9M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
BFFIM
Baring Fintech Fund III Managers
St Peter Port,
Guernsey
|
-$136M |
| 2 |
BC
BIT Capital
Berlin,
Germany
|
-$64.7M |
| 3 |
Arrowstreet Capital
Boston,
Massachusetts
|
-$39.4M |
| 4 |
SCA
Southpoint Capital Advisors
New York
|
-$37.7M |
| 5 |
Sands Capital Management
Arlington,
Virginia
|
-$27.3M |
KSPI Hedge Fund Activity: Q1 2026 in Review
165 of the 8,126 institutional investors tracked by Wall St. Rank reported a position in Kaspi.kz JSC (KSPI) for Q1 2026, worth a combined $6.27B — down 6% from $6.67B a quarter earlier.
Sellers outnumbered buyers: 27 funds closed out of KSPI and 21 opened new positions — a net loss of 6 holders — while 59 trimmed existing stakes and 65 added.
The largest buyer was North of South Capital, adding an estimated $41.6M. The largest seller was Baring Fintech Fund III Managers, cutting an estimated $136M.
- 165 institutional investors held Kaspi.kz JSC (KSPI) as of Q1 2026, down from 174 in Q4 2025.
- Funds reported $6.27B of Kaspi.kz JSC stock for Q1 2026, down 6% quarter-over-quarter.
- 21 funds opened new Kaspi.kz JSC positions in Q1 2026 and 27 closed out, a net change of -6 holders.
- The largest Kaspi.kz JSC buyer in Q1 2026 was North of South Capital, an estimated $41.6M added.
- The largest Kaspi.kz JSC seller in Q1 2026 was Baring Fintech Fund III Managers, an estimated $136M sold.
Based on aggregated 13F filings for Q1 2026.