Kaspi Kz Jsc (KSPI) Hedge Fund Ownership (Q2 2026)

Kaspi Kz Jsc (KSPI)

206 + Investors. Track Smart Money conviction in KSPI. See who's accumulating, reducing, or initiating positions.

Smart Money Signals — KSPI

Based on 209 hedge funds · latest filing: 2026 Q2 · updated quarterly

📈

Buying streak — 1 quarter in a row

last 6Q

For 1 consecutive quarter, more hedge funds added KSPI than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.

🏔️

At the ownership peak (100% of max)

100% of all-time peak

209 hedge funds hold KSPI right now — the highest count in 3.0 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a classic 'crowded trade' — high popularity doesn't equal safety.

🚀

Fast accumulation — +26% more funds vs a year ago

fund count last 6Q

+43 new funds entered over the past year (+26% YoY). That's a rapid rush of institutional money. Fast accumulation often signals a major thesis — but it also means the stock could fall quickly if that thesis breaks.

🟢

More buyers than sellers — 63% buying

128 buying76 selling

Last quarter: 128 funds were net buyers (57 opened a brand new position + 71 added to an existing one). Only 76 were sellers (61 trimmed + 15 sold completely). A clear majority buying is a strong confirmation signal.

📈

More new buyers each quarter (+34 vs last Q)

new funds entering per quarter

Funds opening a new KSPI position: 44 → 29 → 23 → 57. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.

📌

Mixed — 35% long-term, 33% new

■ 35% conviction (2yr+) ■ 32% medium ■ 33% new

Of the 209 current holders: 73 (35%) held >2 years, 66 held 1–2 years, and 70 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.

💰

Price up while funds trimmed (+17% value, -0% shares)

Value

+16%

Last quarter: total value of institutional KSPI holdings rose +17% even though funds reduced share count by 0%. The stock price increased enough to offset the selling. Institutions are quietly trimming into price strength — watch for rotation.

➡️

Steady discovery — ~57 new funds/quarter

17 → 44 → 29 → 23 → 57 new funds/Q

New funds entering each quarter: 44 → 29 → 23 → 57. Consistent flow of new institutional buyers without clear acceleration or slowdown.

📊

Mixed cohorts — 32% veterans, 39% new entrants

■ 32% veterans ■ 29% 1-2yr ■ 39% new

Of 217 current holders: 70 (32%) held 2+ years, 62 held 1–2 years, 85 (39%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.

✅

Strong quality — 20% AUM from major funds

20% from top-100 AUM funds

39 of 206 holders rank in the top 100 by AUM, accounting for 20% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.

4.0

out of 10

Moderate Exit Risk

Exit risk score 4.0/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Metric	All 13F Filers (2026 Q2)	Prior (2026 Q1)	Change
Funds Holding	206	167	23.35%
13F Shares	84M	84M	-0.26%
Total Value	$7.27B	$6.23B	16.58%
New Positions	57	23	+34
Increased Positions	68	62	+6
Closed Positions	15	31	-16
Reduced Positions	59	61	-2
Total Calls	6	4	50.0%
Total Puts	5	4	25.0%
PUT/CALL Ratio	0.83	1.0	Neutral

Metric

All 13F Filers (2026 Q2)

Prior (2026 Q1)

Change

Funds Holding

206

167

23.35%

13F Shares

84M

-0.26%

Total Value

$7.27B

$6.23B

16.58%

New Positions

+34

Increased Positions

Closed Positions

-16

Reduced Positions

-2

Total Calls

50.0%

Total Puts

25.0%

PUT/CALL Ratio

0.83

1.0

Neutral

Institutional Holders (2026 Q2)

206 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in KSPI. Verified SEC 13F-HR filings.

QUARTER:

FILTER:All New Added To Reduced No Change | Overweight >5%

Top 25 KSPI holders by conviction (% of portfolio weight) — 2026 Q2 · Source: SEC Form 13F
#	Investor	% of Portfolio	Shares	Mkt Value
1	Brehaut David Pascal	100.00%	12,257,305	$1.06B
2	Spice Expeditions, LP	100.00%	2,584,454	$223.9M
3	Baring Fintech Manager Holding Ltd	100.00%	16,737,053	$1.45B
4	Baring Fintech Fund III Managers Ltd	100.00%	7,106,927	$615.7M
5	Gemsstock Ltd.	10.13%	394,491	$34.2M
6	Armor Advisors, L.L.C.	8.48%	137,171	$11.9M
7	VR Advisory Services Ltd	8.07%	1,049,999	$91.0M
8	Untitled Investments LP	7.28%	216,021	$18.7M
9	Kingsway Capital Partners Ltd	7.02%	596,134	$51.6M
10	Greenvale Capital LLP	6.30%	665,590	$57.7M
11	North of South Capital LLP	6.30%	987,390	$85.5M
12	Lifetime Wealth Management P.C.	5.96%	117,826	$10.2M
13	Ranmore Fund Management Ltd	5.95%	620,000	$53.7M
14	Eschler Asset Management LLP	5.86%	37,983	$3.3M
15	Fairtree Asset Management (Pty) Ltd	4.33%	130,272	$11.3M
16	ABS Investment Management LLC	4.17%	50,458	$6.6M
17	ABS Direct Equity Fund LLC	4.17%	50,458	$6.6M
18	Norwood Investment Partners, LP	3.51%	29,300	$2.5M
19	Cape Ann Asset Management Ltd	3.27%	163,880	$14.2M
20	Coronation Fund Managers Ltd.	2.70%	814,783	$70.6M
21	Renaissance Capital LLC	2.59%	54,261	$4.7M
22	Kora Management LP	2.48%	241,500	$20.9M
23	Flax Pond Capital, LLC	2.44%	41,824	$3.1M
24	Hyperion Capital Advisors LP	2.18%	55,810	$4.8M
25	Samlyn Capital, LLC	2.11%	1,498,332	$129.8M

Investor	Ownership History	% of Portfolio	Prev %	Rank	Conviction	Avg Buy Price	13F Score™ 3Y / 7Y	Sell Timing	Shares	Mkt Value	Change	Change %	Source	Quarter	Filed

Frequently Asked Questions — Kaspi Kz Jsc (KSPI)

What does the Smart Money Trend signal show for KSPI?

Buying streak — 1 quarter in a row: For 1 consecutive quarter, more hedge funds added KSPI than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.

What is the institutional breadth score for KSPI?

More buyers than sellers — 63% buying: Last quarter: 128 funds were net buyers (57 opened a brand new position + 71 added to an existing one). Only 76 were sellers (61 trimmed + 15 sold completely). A clear majority buying is a strong confirmation signal.

What is the fund quality score for KSPI holders?

Strong quality — 20% AUM from major funds: 39 of 206 holders rank in the top 100 by AUM, accounting for 20% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.

How long have hedge funds held KSPI?

Mixed — 35% long-term, 33% new: Of the 209 current holders: 73 (35%) held >2 years, 66 held 1–2 years, and 70 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

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Kaspi Kz Jsc (KSPI)

Smart Money Signals — KSPI

Buying streak — 1 quarter in a row

At the ownership peak (100% of max)

Fast accumulation — +26% more funds vs a year ago

More buyers than sellers — 63% buying

More new buyers each quarter (+34 vs last Q)

Mixed — 35% long-term, 33% new

Price up while funds trimmed (+17% value, -0% shares)

Steady discovery — ~57 new funds/quarter

Mixed cohorts — 32% veterans, 39% new entrants

Strong quality — 20% AUM from major funds

Institutional Sentiment Summary — KSPI

What Fund Managers Are Saying About KSPI

Hedge Fund Ownership: KSPI

Market Analysis: KSPI

Analyst Price Targets

Analyst Recommendations

Stock Performance

Company Profile: KSPI

Hedge Fund Positioning: KSPI

Statistics: KSPI

Valuation Measures Data as of: --

Financial Highlights

Institutional Holders (2026 Q2)

Frequently Asked Questions — Kaspi Kz Jsc (KSPI)

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