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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.

New
Increased
Maintained
Reduced
Closed

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

Holders
165
Holders Change
-9
Holders Change %
-5.17%
% of All Funds
2.03%
Holding in Top 10
22
Holding in Top 10 Change
+3
Holding in Top 10 Change %
+15.79%
% of All Funds
0.27%
New
21
Increased
65
Reduced
59
Closed
27
Calls
$9.09M
Puts
$27.4M
Net Calls
-$18.3M
Net Calls Change
-$23.6M

Top Buyers

1
NOSC
North of South Capital
United Kingdom
+$41.6M
2
MG
Marex Group
+$41.4M
3
Capital World Investors
Capital World Investors
California
+$34.5M
4
Baillie Gifford & Co
Baillie Gifford & Co
United Kingdom
+$34M
5
UBS Group
UBS Group
Switzerland
+$30.9M

Top Sellers

1
BFFIM
Baring Fintech Fund III Managers
Guernsey
-$136M
2
BC
BIT Capital
Germany
-$64.7M
3
Arrowstreet Capital
Arrowstreet Capital
Massachusetts
-$39.4M
4
SCA
Southpoint Capital Advisors
New York
-$37.7M
5
Sands Capital Management
Sands Capital Management
Virginia
-$27.3M
Name Holding Trade Value Shares
Change 		Change in
Stake
Rockefeller Capital Management
151
Rockefeller Capital Management
New York
$21.1K +$21.1K +280 +7,000%
Wells Fargo
152
Wells Fargo
California
$19.2K +$5.13K +68 +36%
PNC Financial Services Group
153
PNC Financial Services Group
Pennsylvania
$14.4K +$4.6K +61 +46%
FFA
154
Farther Finance Advisors
California
$13.7K +$6.04K +80 +75%
LFG
155
Larson Financial Group
Missouri
$9.04K +$9.21K +122 New
SAM
156
Smartleaf Asset Management
Massachusetts
$8.82K +$6.79K +90 +281%
Osaic Holdings
157
Osaic Holdings
Arizona
$7.41K +$1.96K +26 +35%
TCM
158
Triumph Capital Management
Colorado
$3.7K – – –
Jones Financial Companies
159
Jones Financial Companies
Missouri
$2.48K – – –
RAM
160
Ramirez Asset Management
New York
$1.85K – – –
BFS
161
Bare Financial Services
Pennsylvania
$1.48K +$1.51K +20 New
PTC
162
Private Trust Company
Ohio
$1.19K – – –
SHIM
163
Stone House Investment Management
Pennsylvania
$963 +$981 +13 New
NS
164
NBC Securities
Alabama
$740 +$151 +2 +25%
Group One Trading
165
Group One Trading
Illinois
$148 -$37.2K -493 -100%
Arrowstreet Capital
166
Arrowstreet Capital
Massachusetts
– -$39.4M -504,533 Closed
Balyasny Asset Management
167
Balyasny Asset Management
Illinois
– -$25M -319,737 Closed
TIAM
168
TT International Asset Management
United Kingdom
– -$22.4M -286,939 Closed
MFS
169
Mirabella Financial Services
United Kingdom
– -$19.3M -247,500 Closed
PLC
170
Pillsbury Lake Capital
California
– -$6.34M -81,123 Closed
Bank of Montreal
171
Bank of Montreal
Ontario, Canada
– -$4.86M -61,486 Closed
YIH
172
Y-Intercept (HK)
Hong Kong
– -$4.51M -57,718 Closed
CC
173
Carrhae Capital
United Kingdom
– -$3.96M -50,668 Closed
Millennium Management
174
Millennium Management
New York
– -$2.51M -32,110 Closed
Jane Street
175
Jane Street
New York
– -$2.19M -29,030 Closed
4 5 6
7
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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.