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Joint Stock Company Kaspi.kz (KSPI): which funds own it

Financials →Data as of Jun 30, 2026 (Q2 2026) · updated on Nov 5, 2026

A 13F shows the portfolio at quarter-end and is filed up to 45 days later: these are not real-time positions and they may have changed.

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20 concentrated managers hold it (+1 vs last quarter) with a median weight of 1.2%.

Who owns Joint Stock Company Kaspi.kz?

Joint Stock Company Kaspi.kz trades in the U.S. through ADRs, certificates that represent shares of a non-U.S. company. Form 13F counts ADRs while the company reports ordinary shares, so we do not compute percentages. Holders reporting more than 5% of the ordinary shares to the SEC (Schedules 13D/13G): Vyacheslav Kim, 20.0% (13G/A filed Aug 14, 2026) and European Investors, 6.5% (13G filed Apr 24, 2025). As of Jun 30, 2026, the largest ADR holders reported on Form 13F were Baring Fintech Manager Holding (16.7 million ADRs), Brehaut David Pascal (12.3 million ADRs) and Baring Fintech Fund III Managers (7.1 million ADRs).

Which institutions hold the most Joint Stock Company Kaspi.kz shares?

Per Form 13F filings as of Jun 30, 2026, in ADRs:

  1. 1. Baring Fintech Manager Holding: 16.7 million ADRs
  2. 2. Brehaut David Pascal: 12.3 million ADRs
  3. 3. Baring Fintech Fund III Managers: 7.1 million ADRs
  4. 4. Baillie Gifford: 5.8 million ADRs
  5. 5. FIL: 3.6 million ADRs
  6. 6. Pzena Investment Management: 3.1 million ADRs
  7. 7. Spice Expeditions: 2.6 million ADRs
  8. 8. Schroder Investment Management Group: 2.3 million ADRs
  9. 9. FMR: 2.0 million ADRs
  10. 10. Sands Capital Management: 1.5 million ADRs

Sources:13G/A by Vyacheslav Kim (Aug 14, 2026) ↗13G by European Investors (Apr 24, 2025) ↗All of the company's proxy statements on EDGAR ↗

We hold 13D and 13G filings made since Dec 23, 2024: a holder above 5% that has not filed since then does not appear here.

Concentrated managers
20
All 13F: 205
Consensus
24/100
across 20 concentrated managersRanks by accumulation, portfolio weight and number of managers; it does not say more are buying than selling.
Price at Jun 30, 2026 (per 13F)
$86.64
+17.0% in the quarter · reported value ÷ shares, not the quote · See current quote ↗

Quarter flow (concentrated managers)

Change in managers (19 → 20): 2 opened · 1 exited = +1

Net flow in the quarter: −$84.8M (−979 K shares) · bought $57.4M and sold $142MShares concentrated managers added minus those they cut, valued at the 13F quarter-end implied price, not each trade's price. It is a different measure from the change in managers: the two can have opposite signs.

Concentrated managers holding it

Up to 15, sorted by position value. The percentage is the weight in each manager's portfolio.

Other relevant holders

Filers with $100M or more in the stock that do not count as concentrated managers because of their type: they are left out of the counts, the consensus and the accumulation.

Largest holders of KSPI (all 13F filers)

The 10 13F filers with the most shares as of Jun 30, 2026, whatever their type (index firms usually come first). “Change”: shares added or cut versus the previous quarter, split-adjusted; “no data” = there is no comparable portfolio for the previous quarter (no filing, or a filing with its holdings under confidential treatment). “% of the company” only where shares outstanding are up to date. Entities of the same group file separately and some 13F filings include other managers: there may be double counting. With a free account: the top 25, the largest buyers and the largest sellers.

Insiders (Form 4)

Officers and directors who bought (6 m)
no data
Amount (6 m)
no data
CEO/CFO bought (12 m)
No

Open-market purchases, excluding 10b5-1 plans. Officers and directors only; joint filers of the same purchase count as one. 10% owners with no role are shown separately. 0 = nobody bought; “no data” = we do not have its Form 4 filings.

Each of the company's Form 4 filings, on EDGAR ↗Latest trades, with date and filing →

Above 5% (13D/13G)

Disclosed stakes, with their amendments. A filing is not always a purchase: there are also reductions and changes of filing entity.

This list may be incomplete: we hold 13D and 13G filings made since Dec 23, 2024. A holder above 5% that has not filed anything since then is not shown here.

  • Vyacheslav Kim20%13G · amendmentfiling ↗Event: Jun 30, 2026 · filed: Aug 14, 2026
  • Asia Equity Partners3.7%(fell below 5%)13G · amendmentfiling ↗Event: Jun 30, 2026 · filed: Aug 13, 2026
  • Asia Equity Partners7.3%13G · amendmentfiling ↗Event: Dec 31, 2025 · filed: Feb 13, 2026

Above 5% over time (13D/13G)

Each holder with its filings in order. History since December 2024.

This company filed no 8-K forms in the last year. Foreign companies listed in the US (ADRs) report material events on forms 6-K and 20-F, and ETFs and funds do not file 8-Ks. If it is a foreign company listed in the US through ADRs (American Depositary Receipts), what trades are bank-issued certificates that represent shares from its home market. See its filings on EDGAR ↗

Other Financials stocks in managers' portfolios

Same sector and a similar number of concentrated managers holding them. It is a list to keep exploring, not a recommendation.

All of Financials →

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