Joint Stock Co Kaspi.kz (KSPI) — Institutional Holders, Q2 2026
208 institutional investment managers reported a KSPI position on SEC Form 13F-HR for the quarter ended June 30, 2026, with a combined reported value of $7.3B. Every filer is listed below, ranked by position value, 100 per page; this page shows ranks 1 to 100. Put and call option positions are excluded, and a firm filing several lots or share classes is shown once with its total.
KSPI in Q2 2026: what funds did
Funds that filed a 13F for both Q1 2026 and Q2 2026, by what they did with the common stock. Share counts are adjusted for any split between the two quarters; dollar figures are the change in shares at this quarter’s price.
Biggest buyers
- SCHRODER INVESTMENT MANAGEMENT GROUPAdded · +753,135 sh+$65.3M
- BAILLIE GIFFORDAdded · +655,961 sh+$56.8M
- SAMLYN CAPITALAdded · +431,337 sh+$37.4M
- North of South Capital LLPAdded · +417,709 sh+$36.2M
- PZENA INVESTMENT MANAGEMENTAdded · +399,501 sh+$34.6M
Biggest sellers
- Baring Fintech Fund III Managers LtdTrimmed · -4,955,070 sh-$429.3M
- Baring Fintech Manager Holding LtdTrimmed · -1,314,798 sh-$113.9M
- CAT ROCK CAPITAL MANAGEMENTSold out · -631,001 sh-$54.7M
- Southpoint Capital AdvisorsTrimmed · -400,000 sh-$34.7M
- SUSQUEHANNA INTERNATIONAL GROUP, LLPTrimmed · -221,729 sh-$19.2M
KSPI 13F holders ranked 1–100 of 208
| # | Institution | Shares | Value | % of portfolio | QoQShares vs Q1 2026 |
|---|---|---|---|---|---|
| 1 | Baring Fintech Manager Holding Ltd#1 · 16,737,053 sh | 16,737,053 | $1.5B | 100.00% | -7.3% |
| 2 | Brehaut David Pascal#2 · 12,257,305 sh | 12,257,305 | $1.1B | 100.00% | 0.0% |
| 3 | Baring Fintech Fund III Managers Ltd#3 · 7,106,927 sh | 7,106,927 | $615.7M | 100.00% | -41.1% |
| 4 | BAILLIE GIFFORD#4 · 5,779,168 sh | 5,779,168 | $500.7M | 0.45% | +12.8% |
| 5 | FIL Ltd#5 · 3,635,858 sh | 3,635,858 | $315.0M | 0.23% | +9.3% |
| 6 | PZENA INVESTMENT MANAGEMENT#6 · 3,071,888 sh | 3,071,888 | $266.1M | 0.78% | +14.9% |
| 7 | Spice Expeditions#7 · 2,584,454 sh | 2,584,454 | $223.9M | 100.00% | — |
| 8 | SCHRODER INVESTMENT MANAGEMENT GROUP#8 · 2,319,420 sh | 2,319,420 | $201.0M | 0.14% | +48.1% |
| 9 | FMR#9 · 1,983,010 sh | 1,983,010 | $171.8M | <0.01% | +23.0% |
| 10 | SANDS CAPITAL MANAGEMENT#10 · 1,531,017 sh | 1,531,017 | $132.6M | 0.49% | -3.5% |
| 11 | SAMLYN CAPITAL#11 · 1,498,332 sh | 1,498,332 | $129.8M | 2.11% | +40.4% |
| 12 | Capital World Investors#12 · 1,143,698 sh | 1,143,698 | $99.1M | 0.01% | +11.2% |
| 13 | AMERIPRISE FINANCIAL#13 · 1,116,967 sh | 1,116,967 | $96.8M | 0.02% | +0.1% |
| 14 | BlackRock#14 · 1,085,784 sh | 1,085,784 | $94.1M | <0.01% | +4.4% |
| 15 | VR Advisory Services Ltd#15 · 1,049,999 sh | 1,049,999 | $91.0M | 8.07% | -2.5% |
| 16 | North of South Capital LLP#16 · 987,390 sh | 987,390 | $85.5M | 6.30% | +73.3% |
| 17 | BRANDES INVESTMENT PARTNERS#17 · 833,669 sh | 833,669 | $72.2M | 0.51% | +12.0% |
| 18 | Coronation Fund Managers Ltd.#18 · 814,783 sh | 814,783 | $70.6M | — | -5.9% |
| 19 | WELLINGTON MANAGEMENT GROUP LLP#19 · 759,803 sh | 759,803 | $65.8M | 0.01% | +17.6% |
| 20 | Polar Capital Plc#20 · 673,258 sh | 673,258 | $58.3M | 0.14% | +0.7% |
| 21 | Greenvale Capital LLP#21 · 665,590 sh | 665,590 | $57.7M | 6.30% | +2.4% |
| 22 | WCM INVESTMENT MANAGEMENT#22 · 656,410 sh | 656,410 | $57.4M | 0.10% | +14.9% |
| 23 | Ranmore Fund Management Ltd#23 · 620,000 sh | 620,000 | $53.7M | — | 0.0% |
| 24 | Southpoint Capital Advisors#24 · 600,000 sh | 600,000 | $52.0M | 1.18% | -40.0% |
| 25 | Kingsway Capital Partners Ltd#25 · 596,134 sh | 596,134 | $51.6M | 7.02% | — |
| 26 | MORGAN STANLEY#26 · 574,981 sh | 574,981 | $49.8M | <0.01% | -2.6% |
| 27 | BANK OF AMERICA#27 · 537,030 sh | 537,030 | $46.5M | <0.01% | +2.4% |
| 28 | GOLDMAN SACHS GROUP#28 · 505,895 sh | 505,895 | $43.8M | <0.01% | -18.1% |
| 29 | Marex Group plc#29 · 502,940 sh | 502,940 | $43.6M | 0.18% | -8.3% |
| 30 | abrdn plc#30 · 488,937 sh | 488,937 | $42.4M | 0.06% | -16.1% |
| 31 | Artisan Partners Limited Partnership#31 · 471,473 sh | 471,473 | $40.8M | 0.06% | +22.1% |
| 32 | 683 Capital Management#32 · 470,000 sh | 470,000 | $40.7M | 2.00% | -1.1% |
| 33 | First Beijing Investment Ltd#33 · 424,613 sh | 424,613 | $36.8M | 1.51% | -2.2% |
| 34 | Mondrian Investment Partners LTD#34 · 396,336 sh | 396,336 | $34.3M | — | -8.4% |
| 35 | Gemsstock Ltd.#35 · 394,491 sh | 394,491 | $34.2M | 10.13% | -22.5% |
| 36 | UBS Group AG#36 · 390,820 sh | 390,820 | $33.9M | <0.01% | -17.8% |
| 37 | Fiera Capital#37 · 337,257 sh | 337,257 | $29.2M | 0.11% | +55.2% |
| 38 | JPMORGAN CHASE#38 · 328,798 sh | 328,798 | $28.7M | <0.01% | +6.4% |
| 39 | HSBC PLC#39 · 311,548 sh | 311,548 | $26.9M | 0.01% | +4.0% |
| 40 | Legal & General Group Plc#40 · 267,800 sh | 267,800 | $23.2M | <0.01% | +7.6% |
| 41 | DODGE & COX#41 · 252,826 sh | 252,826 | $21.9M | 0.01% | +20.3% |
| 42 | Kora Management#42 · 241,500 sh | 241,500 | $20.9M | 2.48% | 0.0% |
| 43 | Cullen Capital Management#43 · 234,294 sh | 234,294 | $20.3M | 0.20% | New |
| 44 | Russell Investments Group, Ltd.#44 · 232,340 sh | 232,340 | $20.1M | 0.02% | +9.4% |
| 45 | Ninety One UK Ltd#45 · 228,559 sh | 228,559 | $19.8M | — | +6.0% |
| 46 | Carmignac Gestion#46 · 226,666 sh | 226,666 | $19.6M | 0.26% | +1.0% |
| 47 | UNTITLED INVESTMENTS#47 · 216,021 sh | 216,021 | $18.7M | 7.28% | -45.1% |
| 48 | SOUTHEASTERN ASSET MANAGEMENT#48 · 212,999 sh | 212,999 | $18.5M | 0.96% | -11.5% |
| 49 | State of New Jersey Common Pension Fund D#49 · 205,607 sh | 205,607 | $17.8M | 0.06% | +4.3% |
| 50 | Deeter Investments LLP#50 · 200,000 sh | 200,000 | $17.3M | 2.40% | New |
| 51 | FRANKLIN RESOURCES#51 · 194,774 sh | 194,774 | $16.9M | <0.01% | 0.0% |
| 52 | SEI INVESTMENTS#52 · 179,746 sh | 179,746 | $15.6M | 0.01% | -10.7% |
| 53 | Weiss Asset Management#53 · 171,026 sh | 171,026 | $14.8M | 0.16% | +51.6% |
| 54 | GEODE CAPITAL MANAGEMENT#54 · 167,319 sh | 167,319 | $14.5M | <0.01% | -1.3% |
| 55 | Generali Investments CEE, investicni spolecnost, a.s.#55 · 166,563 sh | 166,563 | $14.4M | — | -11.2% |
| 56 | Cape Ann Asset Management Ltd#56 · 163,880 sh | 163,880 | $14.2M | 3.27% | -6.6% |
| 57 | Pictet Asset Management Holding SA#57 · 156,879 sh | 156,879 | $13.6M | 0.01% | +253.8% |
| 58 | Sumitomo Mitsui#58 · 153,066 sh | 153,066 | $13.3M | <0.01% | -5.1% |
| 59 | Nikko Asset Management Americas#59 · 153,066 sh | 153,066 | $13.3M | 0.17% | -5.1% |
| 60 | Crawford Fund Management#60 · 138,429 sh | 138,429 | $12.0M | 1.84% | +2.2% |
| 61 | Itau Unibanco Holding S.A.#61 · 138,217 sh | 138,217 | $12.0M | 0.23% | +132.5% |
| 62 | ARMOR ADVISORS, L.L.C.#62 · 137,171 sh | 137,171 | $11.9M | 8.48% | -2.8% |
| 63 | Fairtree Asset Management (Pty) Ltd#63 · 130,272 sh | 130,272 | $11.3M | 4.33% | -3.3% |
| 64 | Capricorn Fund Managers Ltd#64 · 118,900 sh | 118,900 | $10.3M | 0.81% | 0.0% |
| 65 | Lifetime Wealth Management P.C.#65 · 117,826 sh | 117,826 | $10.2M | 5.96% | +0.4% |
| 66 | Truffle Hound Capital#66 · 110,000 sh | 110,000 | $9.5M | 2.04% | 0.0% |
| 67 | HARDING LOEVNER#67 · 109,630 sh | 109,630 | $9.5M | 0.09% | -7.8% |
| 68 | KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT#68 · 107,411 sh | 107,411 | $9.3M | 0.03% | -31.7% |
| 69 | FAIRFAX FINANCIAL LTD/ CAN#69 · 106,000 sh | 106,000 | $9.2M | 0.35% | New |
| 70 | Point72 Asset Management, L.P.#70 · 99,918 sh | 99,918 | $8.7M | <0.01% | +1185.0% |
| 71 | SUSQUEHANNA INTERNATIONAL GROUP, LLP#71 · 94,524 sh | 94,524 | $8.2M | <0.01% | -70.1% |
| 72 | BARINGS#72 · 88,751 sh | 88,751 | $7.7M | — | 0.0% |
| 73 | PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO#73 · 85,124 sh | 85,124 | $7.4M | 0.02% | +5.6% |
| 74 | VAN ECK ASSOCIATES#74 · 84,122 sh | 84,122 | $7.3M | <0.01% | -4.5% |
| 75 | ABS Investment Management#75 · 50,458 sh | 50,458 | $6.6M | 4.17% | — |
| 76 | ABS Direct Equity Fund#76 · 50,458 sh | 50,458 | $6.6M | 4.17% | -32.6% |
| 77 | PRICE T ROWE ASSOCIATES#77 · 68,314 sh | 68,314 | $5.9M | <0.01% | -0.6% |
| 78 | Toroso Investments#78 · 67,548 sh | 67,548 | $5.9M | 0.01% | +235.4% |
| 79 | COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS#79 · 67,459 sh | 67,459 | $5.8M | 0.03% | -20.6% |
| 80 | Militia Capital Management#80 · 65,000 sh | 65,000 | $5.6M | 0.17% | +114.5% |
| 81 | CITADEL ADVISORS#81 · 63,459 sh | 63,459 | $5.5M | <0.01% | New |
| 82 | WEXFORD CAPITAL#82 · 61,341 sh | 61,341 | $5.3M | 0.68% | -4.0% |
| 83 | EXCHANGE TRADED CONCEPTS#83 · 57,557 sh | 57,557 | $5.0M | 0.02% | -13.9% |
| 84 | BNP PARIBAS FINANCIAL MARKETS#84 · 56,959 sh | 56,959 | $4.9M | <0.01% | 0.0% |
| 85 | Hyperion Capital Advisors#85 · 55,810 sh | 55,810 | $4.8M | 2.18% | 0.0% |
| 86 | Renaissance Capital#86 · 54,261 sh | 54,261 | $4.7M | — | +27.3% |
| 87 | WELLS FARGO & COMPANY#87 · 53,507 sh | 53,507 | $4.6M | <0.01% | New |
| 88 | Analyst IMS Investment Management Services Ltd.#88 · 52,705 sh | 52,705 | $4.6M | 0.11% | New |
| 89 | Amundi#89 · 50,032 sh | 50,032 | $4.3M | <0.01% | -0.5% |
| 90 | BRILLIANCE ASSET MANAGEMENT LTD#90 · 46,855 sh | 46,855 | $4.1M | 1.20% | New |
| 91 | DEUTSCHE BANK AG\#91 · 41,758 sh | 41,758 | $3.6M | <0.01% | -73.2% |
| 92 | ARK Investment Management#92 · 41,525 sh | 41,525 | $3.6M | 0.02% | -33.7% |
| 93 | NOMURA ASSET MANAGEMENT INTERNATIONAL#93 · 41,275 sh | 41,275 | $3.6M | <0.01% | 0.0% |
| 94 | Eschler Asset Management LLP#94 · 37,983 sh | 37,983 | $3.3M | 5.86% | +20.7% |
| 95 | FLAX POND CAPITAL#95 · 41,824 sh | 41,824 | $3.1M | 2.44% | +2.4% |
| 96 | Evergreen Wealth Management#96 · 35,120 sh | 35,120 | $3.0M | 1.43% | -31.2% |
| 97 | MEITAV INVESTMENT HOUSE LTD#97 · 33,500 sh | 33,500 | $2.9M | 0.02% | +92.5% |
| 98 | DUMAC#98 · 31,510 sh | 31,510 | $2.7M | 0.25% | 0.0% |
| 99 | Eurizon Capital SGR S.p.A.#99 · 31,302 sh | 31,302 | $2.7M | <0.01% | +6.8% |
| 100 | BIT Capital GmbH#100 · 30,112 sh | 30,112 | $2.6M | 0.08% | -80.8% |
Funds that sold out of KSPI in Q2 2026 (14)
Held KSPI at the end of Q1 2026 and filed a Q2 2026 13F without it. Not in the list above, because they no longer hold it. Largest prior position first.
| Institution | Shares sold | Value in Q1 2026 |
|---|---|---|
| CAT ROCK CAPITAL MANAGEMENT631,001 sh | 631,001 | $46.7M |
| Bienville Capital Management134,849 sh | 134,849 | $10.0M |
| Mawer Investment Management Ltd.72,791 sh | 72,791 | $5.4M |
| VOLORIDGE INVESTMENT MANAGEMENT26,256 sh | 26,256 | $1.9M |
| Massar Capital Management25,360 sh | 25,360 | $1.9M |
| Gordian Capital Singapore Pte Ltd11,500 sh | 11,500 | $851.8K |
| Patriot Financial Group Insurance Agency8,954 sh | 8,954 | $663.2K |
| Endure Capital Management8,400 sh | 8,400 | $622.2K |
| Global Endowment Management6,915 sh | 6,915 | $512.0K |
| Corient Private Wealth6,567 sh | 6,567 | $486.4K |
| Aquatic Capital Management5,696 sh | 5,696 | $421.9K |
| GAM Holding AG5,000 sh | 5,000 | $370.4K |
| Tower Research Capital (TRC)822 sh | 822 | $60.9K |
| Caitong International Asset Management , Ltd564 sh | 564 | $41.8K |
Source: Form 13F-HR filings on SEC EDGAR, Q2 2026. Values are as reported by each manager at quarter end. “% of portfolio” is the position’s share of the manager’s total reported 13F value for the same quarter. “New” means the manager filed a 13F for Q1 2026 without this position; a dash means no comparison is available. Where a manager’s own filing is internally inconsistent its value is withheld and it is listed last. 13F data shows reported holdings, not recommendations.