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Livermore
Livermore
ZHEN

Joint Stock Co Kaspi.kz

KSPI
Exchange
Nasdaq
Industry
Services-Business Services, NEC
SEC CIK
0001985487

No open-market purchases or sales by Joint Stock Co Kaspi.kz insiders were filed in the last 90 days; 205 institutions reported holding it in 13F filings for Q2 2026, worth $7.25B in total; 4 superinvestors hold it, including Southeastern Asset Management (Longleaf) and Fairfax Financial.

Q4 2025 vs. Q3 2025

How the institutions holding Joint Stock Co Kaspi.kz changed between Q3 2025 and Q4 2025.

All holders in Q4 2025All holders in Q3 2025

13F holders of KSPI: Q3 2025 compared with Q4 2025
MeasureQ3 2025Of which not filed for Q4 2025Q4 2025Change
Holders1853175−7
Shares74.0M29.9K85.4M+11.4M (+15.4%)
Value$6.05B$2.45M$6.67B+$626.1M (+10.4%)

3 institutions that held it in Q3 2025 haven't filed for Q4 2025 yet. Not filing isn't selling, so the changes leave them out.

New holders (35)

Institutions that held Joint Stock Co Kaspi.kz at the end of Q4 2025 but not at the end of Q3 2025.

Institutions new to KSPI in Q4 2025
InstitutionSharesValue% of portfolio
Brehaut David Pascal12,257,305$957.7M100.00%
Ranmore Fund Management Ltd452,558$35.4M6.07%
Deutsche Bank AG334,910$26.2M0.01%
TT International Asset Management LTD286,939$22.4M4.73%
683 Capital Management, LLC265,000$20.7M1.72%
Kora Management LP169,500$13.2M1.76%
First Beijing Investment Ltd112,388$8.78M0.35%
Lifetime Wealth Management P.C.110,000$8.59M5.40%
Pillsbury Lake Capital LLC81,123$6.34M2.58%
Bank of Montreal61,486$4.86M0.00%
Carrhae Capital LLP50,668$3.96M0.26%
Nomura Asset Management International Inc.43,566$3.40M0.01%
Flax Pond Capital, LLC40,624$3.17M2.36%
Dumac, Inc.31,510$2.46M0.38%
Eurizon Capital SGR S.p.A.26,558$2.07M0.01%
M&T Bank Corp23,115$1.81M0.01%
North of South Capital LLP18,237$1.42M0.13%
Militia Capital Partners, LP15,000$1.17M0.44%
Amitell Capital Pte Ltd11,241$878.3K0.98%
Vident Advisory, LLC7,193$562.0K0.01%
Point Nemo Capital, LLC7,066$552.1K0.55%
Cresset Asset Management, LLC4,933$385.4K0.00%
Pavaki Capital Management LLC4,700$367.2K0.26%
Nomura Holdings Inc4,510$352.4K0.00%
Athena Wealth Management, LLC4,458$348.3K0.34%
SG Americas Securities, LLC3,916$306.0K0.00%
Patriot Financial Group Insurance Agency, LLC3,897$304.5K0.04%
Pensionmark Financial Group, LLC2,684$209.7K0.00%
Ronald Blue Trust, Inc.1,291$100.9K0.00%
Leonteq Securities AG700$54.7K0.00%
Group One Trading, L.P.495$38.7K0.00%
Farther Finance Advisors, LLC107$8.36K0.00%
Triumph Capital Management50$3.91K0.00%
Smartleaf Asset Management LLC32$2.54K0.00%
Ramirez Asset Management, Inc.25$1.95K0.00%

Sold out (42)

Institutions that held Joint Stock Co Kaspi.kz at the end of Q3 2025 and filed for Q4 2025 without it.

Institutions that sold out of KSPI in Q4 2025
InstitutionShares, Q3 2025Value, Q3 2025
GQG Partners LLC1,107,143$90.4M
Alliancebernstein L.P.377,239$30.8M
Luxor Capital Group, LP212,479$17.4M
Philosophy Capital Management LLC143,704$11.7M
UBS Oconnor LLC113,903$9.30M
Cannell Capital LLC108,799$8.89M
Macquarie Group Ltd45,171$3.69M
Prelude Capital Management, LLC38,161$3.12M
Point72 Asset Management, L.P.37,000$3.02M
Verition Fund Management LLC35,410$2.89M
Burkehill Global Management, LP35,000$2.86M
Qube Research & Technologies Ltd29,073$2.37M
D. E. Shaw & Co., Inc.25,440$2.08M
Capital International Investors21,812$1.78M
Flossbach Von Storch AG21,500$1.76M
UBS Asset Management Americas Inc16,456$1.34M
Driehaus Capital Management LLC15,190$1.24M
Aquatic Capital Management LLC14,108$1.15M
Cantor Fitzgerald, L. P.12,213$997.6K
FourWorld Capital Management LLC10,000$816.8K
Quadrature Capital Ltd8,964$732.2K
Steamboat Capital Partners, LLC8,488$693.3K
Dynamic Technology Lab Private Ltd8,260$675.0K
HRT Financial LP7,619$622.0K
First Trust Advisors LP7,495$612.2K
Lansforsakringar Fondforvaltning AB (publ)6,992$571.1K
Citadel Advisors LLC6,879$561.9K
Federated Hermes, Inc.6,345$518.3K
Corsair Capital Management, L.P.6,000$490.1K
CI Private Wealth, LLC5,652$461.6K
Cullen Capital Management LLC4,641$379.1K
Yorktown Management & Research Co Inc4,550$371.6K
Ingalls & Snyder LLC4,164$340.0K
Squarepoint Ops LLC4,047$330.6K
Pitcairn Co3,272$267.3K
Aigen Investment Management, LP2,730$223.0K
R Squared Ltd2,668$217.9K
Sandia Investment Management LP2,175$177.7K
Toronto Dominion Bank1,972$161.1K
Mirae Asset Global Investments Co., Ltd.874$71.4K
Larson Financial Group LLC5$408
GAMMA Investing LLC3$245

Not filed for Q4 2025 yet (3)

Institutions that held Joint Stock Co Kaspi.kz at the end of Q3 2025 and haven't filed a 13F for Q4 2025. Not filing isn't selling, so they aren't counted as sold out.

Institutions holding KSPI in Q3 2025 that haven't filed for Q4 2025
InstitutionShares, Q3 2025Value, Q3 2025
Cubist Systematic Strategies, LLC17,912$1.46M
Wolverine Trading, LLC7,219$590.7K
Point72 Hong Kong Ltd4,800$392.1K