JSC Kaspi.kz ADRKSPI
13F holders, Q4 2025 (December 31)175holders −10
25new positions
41sold out
3famous investors
$78.14avg. 13F price*
At the end of Q4 2025, 175 institutions reported holding JSC Kaspi.kz ADR (KSPI) in their 13F filings, down 10 from Q3 2025. 25 opened new positions and 41 sold out. The largest holders were Baring Fintech Manager Holding Ltd ($1.4B), Baring Fintech Fund III Managers Ltd ($1.1B) and Brehaut David Pascal ($957.7M). 3 famous investors held it, including Cathie Wood (0.1% of ARK Investment Management's portfolio), John W. Rogers Jr. (0.0% of Ariel Investments's portfolio) and Israel Englander (0.0% of Millennium Management's portfolio).
- Company
- JSC Kaspi.kz ADR
- Filed as
- KASPI KZ JSC (Q4 2025)
- CUSIP
- 48581R205
- Latest filing quarter
- Q2 2026
History
Number of 13F holders
Total Exit/New Position Q3 2025 → Q4 2025
| Institutions | Total Value | |
|---|---|---|
| New Positions | 25 | $143.1M |
| Exits | 41 | $205.9M |
All 13F filers, Q3 2025 → Q4 2025: 6,003,458 shares bought and 7,244,155 shares sold, net −1,240,697 shares. Counts holders who added, trimmed, opened or closed a position; split-adjusted.
Ownership 175 holders
| Baring Fintech Manager Holding Ltd | 100.00% | No change | 18,051,851 | $1.4B |
| Baring Fintech Fund III Managers Ltd | 100.00% | Reduce -3.8% | 13,870,945 | $1.1B |
| Brehaut David Pascal | 100.00% | — | 12,257,305 | $957.7M |
| Baillie Gifford & Co. | 0.30% | Reduce -2.4% | 4,673,083 | $365.1M |
| FIL Ltd | 0.18% | Reduce -20.2% | 3,026,992 | $236.5M |
| Pzena Investment Management LLC | 0.63% | Add +56.2% | 2,705,734 | $211.4M |
| Sands Capital Management, LLC | 0.46% | Add +18.5% | 1,948,761 | $152.3M |
| FMR LLC | 0.01% | Reduce -1.8% | 1,648,462 | $128.8M |
| Schroder Investment Management Group | 0.09% | Add +4.0% | 1,503,898 | $117.5M |
| Southpoint Capital Advisors LP | 2.72% | Add +20.0% | 1,500,000 | $117.2M |
| Ameriprise Financial Inc. | 0.02% | Add +33.9% | 1,164,007 | $90.9M |
| VR Advisory Services Ltd | 13.33% | No change | 1,077,369 | $84.2M |
| Samlyn Capital, LLC | 1.32% | Reduce -10.8% | 1,059,191 | $82.8M |
| BIT Capital GmbH | 3.45% | Add +15.2% | 1,014,104 | $79.2M |
| Coronation Fund Managers Ltd. | 3.47% | Add +20.3% | 990,623 | $77.4M |
| Wellington Management Group LLP | 0.01% | Reduce -8.4% | 680,216 | $53.1M |
| BlackRock, Inc. | 0.00% | Reduce -23.5% | 673,214 | $52.6M |
| Greenvale Capital LLP | 4.76% | Reduce -33.7% | 650,000 | $50.8M |
| Polar Capital Holdings Plc | 0.23% | Add +10.3% | 647,217 | $50.6M |
| Cat Rock Capital Management LP | 7.23% | No change | 645,001 | $50.4M |
| Aberdeen Group plc | 0.08% | Reduce -20.3% | 621,339 | $48.5M |
| Capital World Investors | 0.01% | Add +0.8% | 570,703 | $44.6M |
| Brandes Investment Partners, LP | 0.33% | Add +36.9% | 558,071 | $43.6M |
| Arrowstreet Capital, Limited Partnership | 0.02% | Reduce -12.7% | 504,533 | $39.4M |
| Mondrian Investment Partners LTD | 0.63% | Add +16.9% | 491,346 | $38.4M |
| Ranmore Fund Management Ltd | 6.07% | New | 452,558 | $35.4M |
| Brightlight Capital Management LP | 24.00% | No change | 432,000 | $33.8M |
| Goldman Sachs Group Inc. | 0.00% | Add +2.6% | 421,717 | $32.9M |
| Untitled Investments LP | 9.29% | No change | 396,040 | $30.9M |
| Artisan Partners Limited Partnership | 0.04% | Add +22.9% | 352,994 | $27.6M |
| Bank of America Corp. | 0.00% | Add +0.4% | 345,588 | $27.0M |
| Fiera Capital Corp | 0.08% | Reduce -14.9% | 335,178 | $26.2M |
| Deutsche Bank AG | 0.01% | New | 334,910 | $26.2M |
| Balyasny Asset Management L.P. | 0.05% | Add +144.9% | 319,737 | $25.0M |
| Legal & General Group Plc | 0.01% | Add +12.2% | 305,654 | $23.9M |
| Amova Asset Management Americas, Inc. | 0.27% | Reduce -8.8% | 295,469 | $23.1M |
| Sumitomo Mitsui Trust Group, Inc. | 0.01% | Reduce -8.8% | 295,469 | $23.1M |
| TT International Asset Management LTD | 4.73% | New | 286,939 | $22.4M |
| Morgan Stanley | 0.00% | Add +47.8% | 285,138 | $22.3M |
| Bienville Capital Management, LLC | 3.45% | Add +24.5% | 277,635 | $21.7M |
| JPMorgan Chase & Co. | 0.00% | Reduce -42.3% | 273,236 | $21.3M |
| HSBC Holdings PLC | 0.01% | Reduce -46.3% | 266,982 | $21.0M |
| 683 Capital Management, LLC | 1.81% | New | 265,000 | $20.7M |
| Susquehanna International Group, LLP | 0.03% | Add +1773.0% | 259,810 | $20.3M |
| WCM Investment Management, LLC | 0.04% | Add +23.5% | 248,086 | $19.6M |
| Mirabella Financial Services LLP | 1.98% | Add +13.9% | 247,500 | $19.3M |
| Southeastern Asset Management Inc. | 0.84% | Add +34.9% | 240,628 | $18.8M |
| Carmignac Gestion | 0.24% | Reduce -8.6% | 228,970 | $17.9M |
| Ninety One UK Ltd | 0.04% | Add +4.1% | 215,198 | $16.8M |
| State of New Jersey Common Pension Fund D | 0.06% | Add +68.8% | 197,147 | $15.4M |
| Franklin Resources Inc. | 0.00% | No change | 192,112 | $15.0M |
| Generali Investments CEE, investicni spolecnost, a.s. | 1.05% | Add +2.7% | 190,773 | $14.9M |
| Gemsstock Ltd. | 1.85% | Add +0.9% | 188,262 | $14.7M |
| Russell Investments Group, Ltd. | 0.02% | Add +21.4% | 186,320 | $14.6M |
| Dodge & Cox | 0.01% | Add +930.7% | 183,726 | $14.4M |
| Cape Ann Asset Management Ltd | 3.72% | Add +0.8% | 175,100 | $13.7M |
| Kora Management LP | 1.76% | New | 169,500 | $13.2M |
| Sei Investments Co. | 0.01% | Reduce -4.4% | 169,201 | $13.2M |
| Geode Capital Management, LLC | 0.00% | Reduce -0.3% | 167,346 | $13.1M |
| Public Employees Retirement System of Ohio | 0.04% | Add +16.4% | 167,125 | $13.1M |
| Kayne Anderson Rudnick Investment Management LLC | 0.03% | Add +52045.4% | 157,479 | $12.3M |
| Fairtree Asset Management (Pty) Ltd | 5.56% | Add +37.3% | 154,534 | $12.1M |
| Voloridge Investment Management, LLC | 0.04% | Add +163.2% | 136,210 | $10.6M |
| ARK Investment Management | 0.07% | Reduce -5.7% | 133,688 | $10.4M |
| Armor Advisors, L.L.C. | 10.72% | Add +13.1% | 131,080 | $10.2M |
| Harding Loevner LP | 0.08% | Reduce -20.5% | 123,009 | $9.6M |
| Weiss Asset Management LP | 0.16% | Reduce -28.3% | 112,802 | $8.8M |
| First Beijing Investment Ltd | 0.35% | New | 112,388 | $8.8M |
| Lifetime Wealth Management P.C. | 5.47% | — | 110,000 | $8.6M |
| Commonwealth of Pennsylvania Public School Empls Retrmt SYS | 0.04% | No change | 90,434 | $7.1M |
| Crawford Fund Management, LLC | 2.25% | Add +55.7% | 89,769 | $7.0M |
| Van Eck Associates Corp. | 0.01% | Reduce -15.1% | 88,408 | $6.9M |
| Truffle Hound Capital, LLC | 3.89% | No change | 85,000 | $6.6M |
| Pillsbury Lake Capital LLC | 2.58% | — | 81,123 | $6.3M |
| T. Rowe Price Associates Inc. | 0.00% | Reduce -25.2% | 74,048 | $5.8M |
| Mawer Investment Management Ltd. | 0.03% | Reduce -90.7% | 72,791 | $5.7M |
| Exchange Traded Concepts, LLC | 0.05% | Reduce -33.4% | 71,855 | $5.6M |
| UBS Group AG | 0.00% | Add +191.9% | 65,737 | $5.1M |
| Robeco Institutional Asset Management B.V. | 0.01% | No change | 65,000 | $5.1M |
| Bank of Montreal | 0.00% | New | 61,486 | $4.9M |
| BNP Paribas Financial Markets | 0.00% | Add +64.6% | 60,644 | $4.7M |
| Itau Unibanco Holding S.A. | 0.12% | Reduce -19.1% | 59,441 | $4.7M |
| Y-Intercept (Hong Kong) Ltd | 0.10% | Add +359.7% | 57,718 | $4.5M |
| Renaissance Capital LLC | 3.17% | Reduce -37.4% | 56,225 | $4.4M |
| Hyperion Capital Advisors LP | 2.13% | Add +283.3% | 55,810 | $4.4M |
| Amundi | 0.00% | Reduce -7.8% | 51,509 | $4.0M |
| Carrhae Capital LLP | 0.26% | New | 50,668 | $4.0M |
| Jump Financial, LLC | 0.05% | Reduce -52.4% | 48,814 | $3.8M |
| ABS Direct Equity Fund LLC | 4.53% | Add +42.0% | 48,685 | $3.8M |
| Pictet Asset Management Holding SA | 0.00% | Reduce -4.0% | 47,808 | $3.7M |
| Norwood Investment Partners, LP | 4.20% | Reduce -54.6% | 47,746 | $3.7M |
| Nomura Asset Management International Inc. | 0.01% | — | 43,566 | $3.4M |
| Evergreen Wealth Management, LLC | 1.67% | Add +4.4% | 42,392 | $3.3M |
| Flax Pond Capital, LLC | 2.36% | — | 40,624 | $3.2M |
| Baader Bank Aktiengesellschaft | 0.26% | Add +0.1% | 40,273 | $3.1M |
| Tidal Investments LLC | 0.01% | Reduce -18.8% | 33,617 | $2.6M |
| Wexford Capital LP | 0.66% | Add +5.8% | 32,771 | $2.6M |
| Millennium Management | 0.00% | Reduce -53.2% | 32,110 | $2.5M |
| Dumac, Inc. | 0.38% | — | 31,510 | $2.5M |
| Jane Street Group, LLC | 0.00% | Reduce -94.5% | 29,030 | $2.3M |
| Eurizon Capital SGR S.p.A. | 0.01% | — | 26,558 | $2.1M |
| Massar Capital Management, LP | 0.39% | No change | 25,360 | $2.0M |
| Main Management ETF Advisors, LLC | 0.07% | Add +1.0% | 25,056 | $2.0M |
| Hood River Capital Management LLC | 0.02% | Reduce -72.5% | 24,258 | $1.9M |
| M&T Bank Corp | 0.01% | New | 23,115 | $1.8M |
| State Street Corp. | 0.00% | Add +52.1% | 21,578 | $1.7M |
| Wealth Enhancement Advisory Services, LLC | 0.00% | Add +48.0% | 19,596 | $1.6M |
| Engineers Gate Manager LP | 0.02% | Reduce -26.5% | 20,072 | $1.6M |
| North of South Capital LLP | 0.13% | New | 18,237 | $1.4M |
| Federation des caisses Desjardins du Quebec | 0.01% | Reduce -0.8% | 17,799 | $1.4M |
| Headlands Technologies LLC | 0.11% | Add +105.0% | 17,209 | $1.3M |
| Capricorn Fund Managers Ltd | 0.32% | No change | 17,000 | $1.3M |
| Boothbay Fund Management, LLC | 0.03% | Reduce -0.2% | 15,371 | $1.2M |
| Militia Capital Partners, LP | 0.44% | New | 15,000 | $1.2M |
| GAM Holding AG | 0.07% | No change | 15,000 | $1.2M |
| Virtu Financial LLC | 0.04% | Reduce -40.7% | 14,153 | $1.1M |
| Eschler Asset Management LLP | 0.74% | Add +88.8% | 13,975 | $1.1M |
| Kerrisdale Advisers, LLC | 0.50% | No change | 13,665 | $1.1M |
| Ariel Investments | 0.01% | Add +7.4% | 13,172 | $1.0M |
| ANTIPODES PARTNERS Ltd | 0.02% | Add +30.5% | 12,955 | $1.0M |
| Amitell Capital Pte Ltd | 0.98% | New | 11,241 | $878K |
| Marshall Wace, LLP | 0.00% | Reduce -68.3% | 10,070 | $787K |
| Abn Amro Investment Solutions | 0.01% | Reduce -69.8% | 9,446 | $738K |
| Royal Bank of Canada | 0.00% | Add +13.8% | 9,112 | $711K |
| IQ EQ FUND MANAGEMENT (SINGAPORE) PRIVATE Ltd | 0.97% | No change | 9,000 | $703K |
| E. Ohman J:or Asset Management AB | 0.02% | Add +12.0% | 8,416 | $658K |
| Acadian Asset Management LLC | 0.00% | Reduce -62.1% | 7,730 | $603K |
| LSV Asset Management | 0.00% | No change | 7,500 | $586K |
| Vident Advisory, LLC | 0.01% | New | 7,193 | $562K |
| Point Nemo Capital, LLC | 0.55% | — | 7,066 | $552K |
| Global Endowment Management, LP | 0.06% | Add +14.3% | 6,091 | $476K |
| Commerce Bank | 0.00% | No change | 5,677 | $444K |
| Cresset Asset Management, LLC | 0.00% | New | 4,933 | $385K |
| Neuberger Berman Group LLC | 0.00% | Add +18.3% | 4,886 | $382K |
| Pavaki Capital Management LLC | 0.26% | — | 4,700 | $367K |
| Citigroup Inc. | 0.00% | Add +333.2% | 4,575 | $357K |
| Nomura Holdings Inc. | 0.00% | New | 4,510 | $352K |
| Athena Wealth Management, LLC | 0.34% | — | 4,458 | $348K |
| Ruane, Cunniff & Goldfarb L.P. | 0.01% | Add +10.8% | 4,112 | $321K |
| SG Americas Securities, LLC | 0.00% | New | 3,916 | $306K |
| Patriot Financial Group Insurance Agency, LLC | 0.04% | New | 3,897 | $304K |
| Advisory Services Network, LLC | 0.00% | Add +15.3% | 3,787 | $296K |
| LPL Financial LLC | 0.00% | Add +24.7% | 3,722 | $291K |
| Simplex Trading, LLC | 0.01% | Add +48.5% | 3,604 | $282K |
| Mitsubishi UFJ Asset Management Co., Ltd. | 0.00% | Add +38.7% | 2,805 | $218K |
| Matthews International Capital Management LLC | 0.07% | Reduce -2.5% | 2,762 | $216K |
| World Investment Advisors | 0.00% | New | 2,684 | $210K |
| Mariner, LLC | 0.00% | Reduce -64.3% | 2,602 | $203K |
| Envestnet Asset Management Inc. | 0.00% | Reduce -0.5% | 2,582 | $202K |
| State of Wyoming | 0.02% | Add +133.8% | 2,488 | $196K |
| Natixis | 0.00% | No change | 1,838 | $145K |
| Barclays PLC | 0.00% | Add +126.3% | 1,810 | $141K |
| Hantz Financial Services, Inc. | 0.00% | Add +111.3% | 1,678 | $131K |
| Global Retirement Partners, LLC | 0.00% | Add +6218.2% | 1,390 | $109K |
| Blue Trust, Inc. | 0.00% | New | 1,291 | $101K |
| Caitong International Asset Management Co., Ltd | 0.02% | Add +175.6% | 1,141 | $89K |
| Asset Management One Co., Ltd. | 0.00% | Reduce -25.0% | 1,077 | $85K |
| Leonteq Securities AG | 0.00% | New | 700 | $55K |
| Tower Research Capital LLC (TRC) | 0.00% | Add +539.6% | 646 | $50K |
| Group One Trading LLC | 0.00% | New | 495 | $39K |
| National Bank of Canada | 0.00% | Add +457.4% | 379 | $30K |
| UMB Bank, n.a. | 0.00% | Reduce -12.2% | 237 | $19K |
| Wells Fargo & Company | 0.00% | Add +3.8% | 191 | $15K |
| PNC Financial Services Group, Inc. | 0.00% | Add +10.7% | 134 | $10K |
| Farther Finance Advisors, LLC | 0.00% | New | 107 | $8K |
| Osaic Holdings, Inc. | 0.00% | Reduce -48.3% | 74 | $6K |
| Triumph Capital Management | 0.00% | New | 50 | $4K |
| Jones Financial Companies LLLP | 0.00% | Reduce -53.3% | 35 | $3K |
| Smartleaf Asset Management LLC | 0.00% | New | 32 | $3K |
| Crewe Advisors LLC | 0.00% | No change | 25 | $2K |
| Ramirez Asset Management, Inc. | 0.00% | New | 25 | $2K |
| EverSource Wealth Advisors, LLC | 0.00% | Reduce -58.1% | 18 | $1K |
| Private Trust Co. NA | 0.00% | Reduce -11.1% | 16 | $1K |
| Lanark Financial, Inc. | 0.00% | Add +33.3% | 8 | $625 |
| Rockefeller Capital Management L.P. | 0.00% | Reduce -85.2% | 4 | $332 |
"% of holder's portfolio" is KSPI's weight in each manager's 13F, not the share of JSC Kaspi.kz ADR the manager owns.