Vault-13

KASPI KZ JSC KSPI

SPONSORED ADS · ADR · CUSIP 48581R205 · ISIN US48581R2058

Technology "unicorn" company of Kazakhstan

155 institutional holders +28 vs Q1 2024
42,952,30943.0m shares reported held*
$5.5bnreported value*
45 new 35 added 58 reduced 18 sold out net bought ≈ $442.7m (+3.3m shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($59.9m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $129.06. Options: 6 managers hold calls ($7.4m notional), 3 hold puts ($864.4k).

Trends to Q2 2024

Institutional holders

Managers reporting a position, each quarter

0100200Q3 22: 2Q4 22: 2Q1 23: 2Q2 23: 2Q3 23: 1Q4 23: 1Q1 24: 127Q2 24: 155155Q3 22Q1 23Q3 23Q1 24Q2 24
Numbers
QuarterHolders
Q3 20222
Q4 20222
Q1 20232
Q2 20232
Q3 20231
Q4 20231
Q1 2024127
Q2 2024155

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
2000200Q4 22: 0 bought or addedQ4 22: 2 cut or sold outQ4 22Q1 23: 1 bought or addedQ1 23: 1 cut or sold outQ2 23: 1 bought or addedQ2 23: 1 cut or sold outQ2 23Q3 23: 0 bought or addedQ3 23: 2 cut or sold outQ4 23: 0 bought or addedQ4 23: 1 cut or sold outQ4 23Q1 24: 125 bought or addedQ1 24: 0 cut or sold outQ2 24: 80 bought or addedQ2 24: 76 cut or sold outQ2 24
Numbers
QuarterBought or addedCut or sold out
Q4 202202
Q1 202311
Q2 202311
Q3 202302
Q4 202301
Q1 20241250
Q2 20248076

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$2m$4m$6m$8mQ3 23 calls: $0Q3 23 puts: $0Q3 23P/C —Q4 23 calls: $0Q4 23 puts: $0Q4 23P/C —Q1 24 calls: $0Q1 24 puts: $0Q1 24P/C —Q2 24 calls: $7.4mQ2 24 puts: $864.4kQ2 24P/C 0.12
Numbers
QuarterCallsPutsP/C
Q3 2023$0$0—
Q4 2023$0$0—
Q1 2024$0$0—
Q2 2024$7.4m$864.4k0.12

Biggest buyers

BAILLIE GIFFORD & CO Added +2,196,646+2.2m
SCHRODER INVESTMENT MANAGEMENT GROUP New +1,295,080+1.3m
PZENA INVESTMENT MANAGEMENT LLC New +867,970+868.0k
Greenvale Capital LLP New +725,000+725.0k
VR Advisory Services Ltd New +479,344+479.3k
GOLDMAN SACHS GROUP INC New +425,708+425.7k
Cullen Capital Management, LLC New +330,171+330.2k
FMR LLC Added +303,884+303.9k
Carmignac Gestion New +200,242+200.2k
MANUFACTURERS LIFE INSURANCE COMPANY, THE New +165,854+165.9k

Biggest sellers

BlackRock Inc. Reduced -537,032-537.0k
CITADEL ADVISORS LLC Sold out -525,047-525.0k
MORGAN STANLEY Reduced -519,244-519.2k
Squarepoint Ops LLC Reduced -449,839-449.8k
WELLINGTON MANAGEMENT GROUP LLP Reduced -242,827-242.8k
Capital World Investors Reduced -215,100-215.1k
FIL Ltd Reduced -203,677-203.7k
HSBC HOLDINGS PLC Reduced -193,099-193.1k
JANE STREET GROUP, LLC Reduced -181,660-181.7k
MARSHALL WACE, LLP Reduced -159,287-159.3k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP New $4.6m35.8k shares
CITIGROUP INC New $1.1m8.7k shares
GROUP ONE TRADING LLC New $838.6k6.5k shares
CITADEL ADVISORS LLC New $658.0k5.1k shares
SIMPLEX TRADING, LLC New $193.0k1.5k shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. New $00 shares

Biggest puts

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Major shareholders (over 5%)

Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.

HolderStakeChangeShares Last filed
Kim Vyacheslav 13G · exempt (held before listing) -1.3 pts · filed 2026-08-14 20.0% -1.3 pts 38.1m 2026-08-14
European Investors Ltd 13G · passive investor new · filed 2025-04-24 6.5% new 12.3m 2025-04-24

Fell to 5% or below in the last year: Asia Equity Partners Ltd (3.7%, 2026-08-13)

Insider purchases and sales in Q2 2024

Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.

None reported in Q2 2024.

Holders, Q2 2024

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BlackRock Inc. 0.01% of their portfolio New York, NY 4,193,2604.2m $541.0m $541.0m 0.01% Reduced -537.0k -537,032
2 FIL Ltd 0.50% of their portfolio HAMILTON, D0 3,949,7553.9m $509.6m $509.6m 0.50% Reduced -203.7k -203,677
3 BAILLIE GIFFORD & CO 0.34% of their portfolio EDINBURGH, X0 3,343,8593.3m $431.4m $431.4m 0.34% Added +2.2m +2,196,646
4 Aberdeen Group plc 0.59% of their portfolio EDINBURGH, X0 2,384,6002.4m $307.6m $307.6m 0.59% Reduced -157.0k -156,996
5 GQG Partners LLC 0.38% of their portfolio FT. LAUDERDALE, FL 1,967,7672.0m $253.9m $253.9m 0.38% Reduced -1.7k -1,679
6 FMR LLC 0.02% of their portfolio BOSTON, MA 1,955,6812.0m $252.3m $252.3m 0.02% Added +303.9k +303,884
7 SANDS CAPITAL MANAGEMENT, LLC 0.58% of their portfolio ARLINGTON, VA 1,520,3411.5m $196.1m $196.1m 0.58% Reduced -127.8k -127,796
8 CAT ROCK CAPITAL MANAGEMENT LP 19.32% of their portfolio GREENWICH, CT 1,336,4251.3m $172.4m $172.4m 19.32% Unchanged
9 SCHRODER INVESTMENT MANAGEMENT GROUP 0.18% of their portfolio London, X0 1,295,0801.3m $167.1m $167.1m 0.18% New
10 SAMLYN CAPITAL, LLC 2.54% of their portfolio New York, NY 1,145,3451.1m $147.8m $147.8m 2.54% Reduced -3.5k -3,505
11 Southpoint Capital Advisors LP 3.21% of their portfolio NEW YORK, NY 1,000,0001.0m $129.0m $129.0m 3.21% Unchanged
12 Mawer Investment Management Ltd. 0.60% of their portfolio CALGARY, A0 981,444981.4k $126.6m $126.6m 0.60% Reduced -45.1k -45,109
13 PZENA INVESTMENT MANAGEMENT LLC 0.39% of their portfolio NEW YORK, NY 867,970868.0k $112.0m $112.0m 0.39% New
14 BIT Capital GmbH 9.36% of their portfolio BERLIN, 2M 799,809799.8k $103.2m $103.2m 9.36% Reduced -94.4k -94,367
15 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 759,460759.5k $98.0m $98.0m 0.00% Reduced -27.8k -27,752
16 Greenvale Capital LLP 3.24% of their portfolio LONDON, X0 725,000725.0k $93.5m $93.5m 3.24% New
17 UNTITLED INVESTMENTS LP 19.54% of their portfolio NEW YORK, NY 678,548678.5k $87.5m $87.5m 19.54% Reduced -38.5k -38,461
18 ALLIANCEBERNSTEIN L.P. 0.03% of their portfolio NASHVILLE, TN 591,838591.8k $76.4m $76.4m 0.03% Added +119.7k +119,651
19 WELLINGTON MANAGEMENT GROUP LLP 0.01% of their portfolio Boston, MA 537,573537.6k $69.4m $69.4m 0.01% Reduced -242.8k -242,827
20 Luxor Capital Group, LP 11.25% of their portfolio NEW YORK, NY 536,903536.9k $69.3m $69.3m 11.25% Reduced -145.9k -145,888
21 BANK OF AMERICA CORP /DE/ 0.01% of their portfolio CHARLOTTE, NC 511,138511.1k $65.9m $65.9m 0.01% Reduced -370 -370
22 Ninety One UK Ltd 0.17% of their portfolio London, X0 482,870482.9k $62.3m $62.3m 0.17% Reduced -21.8k -21,823
23 VR Advisory Services Ltd 24.98% of their portfolio CAMANA BAY, GRAND CAYMAN, E9 479,344479.3k $61.8m $61.8m 24.98% New
24 Sumitomo Mitsui Trust Group, Inc. 0.04% of their portfolio CHIYODA-KU, TOKYO, M0 454,415454.4k $58.6m $58.6m 0.04% Reduced -43.5k -43,497
25 Amova Asset Management Americas, Inc. 0.67% of their portfolio New York, NY 452,854452.9k $58.4m $58.4m 0.67% Reduced -45.1k -45,058
26 GOLDMAN SACHS GROUP INC 0.01% of their portfolio NEW YORK, NY 425,708425.7k $54.9m $54.9m 0.01% New
27 Fiera Capital Corp 0.17% of their portfolio MONTREAL, A8 418,491418.5k $54.0m $54.0m 0.17% Reduced -13.9k -13,863
28 Capital World Investors 0.01% of their portfolio LOS ANGELES, CA 418,064418.1k $53.9m $53.9m 0.01% Reduced -215.1k -215,100
29 Harding Loevner LP 0.29% of their portfolio Bridgewater, NJ 411,231411.2k $53.1m $53.1m 0.29% Reduced -89.1k -89,120
30 WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC 0.13% of their portfolio CHICAGO, IL 386,199386.2k $49.8m $49.8m 0.13% Reduced -13.7k -13,653
31 ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.04% of their portfolio BOSTON, MA 361,564361.6k $46.6m $46.6m 0.04% Reduced -22.1k -22,143
32 Coronation Fund Managers Ltd. 2.61% of their portfolio Cape Town, T3 350,873350.9k $45.3m $45.3m 2.61% Reduced -27.4k -27,356
33 Cullen Capital Management, LLC 0.49% of their portfolio New York, NY 330,171330.2k $42.6m $42.6m 0.49% New
34 Artisan Partners Limited Partnership 0.06% of their portfolio Milwaukee, WI 325,213325.2k $42.0m $42.0m 0.06% Added +148.3k +148,288
35 Capital International Investors 0.01% of their portfolio Los Angeles, CA 320,047320.0k $41.7m $41.7m 0.01% Added +14.2k +14,250
36 HSBC HOLDINGS PLC 0.03% of their portfolio LONDON, X0 313,071313.1k $41.3m $41.3m 0.03% Reduced -193.1k -193,099
37 Polar Capital Holdings Plc 0.23% of their portfolio London, X0 298,490298.5k $38.5m $38.5m 0.23% Added +97.9k +97,901
38 Legal & General Group Plc 0.01% of their portfolio London, X0 293,281293.3k $37.8m $37.8m 0.01% Reduced -27.4k -27,433
39 BRIGHTLIGHT CAPITAL MANAGEMENT LP 18.19% of their portfolio WESTPORT, CT 263,642263.6k $34.0m $34.0m 18.19% Unchanged
40 Verition Fund Management LLC 0.26% of their portfolio GREENWICH, CT 259,486259.5k $33.5m $33.5m 0.26% Added +74.8k +74,754
41 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 228,416228.4k $29.5m $29.5m 0.00% Reduced -519.2k -519,244
42 Tekne Capital Management, LLC 15.22% of their portfolio NEW YORK, NY 224,500224.5k $29.0m $29.0m 15.22% Reduced -32.8k -32,820
43 WCM INVESTMENT MANAGEMENT, LLC 0.07% of their portfolio LAGUNA BEACH, CA 221,463221.5k $29.3m $29.3m 0.07% Added +39.9k +39,868
44 VAN ECK ASSOCIATES CORP 0.04% of their portfolio NEW YORK, NY 214,298214.3k $27.6m $27.6m 0.04% Reduced -1.5k -1,500
45 AMERIPRISE FINANCIAL INC 0.01% of their portfolio MINNEAPOLIS, MN 201,755201.8k $26.0m $26.0m 0.01% Reduced -29.5k -29,497
46 Carmignac Gestion 0.44% of their portfolio PARIS, I0 200,242200.2k $25.8m $25.8m 0.44% New
47 FRANKLIN RESOURCES INC 0.01% of their portfolio San Mateo, CA 196,993197.0k $25.4m $25.4m 0.01% Unchanged
48 ARMOR ADVISORS, L.L.C. 18.94% of their portfolio NEW YORK, NY 185,379185.4k $23.9m $23.9m 18.94% Reduced -53.7k -53,730
49 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 166,251166.3k $21.4m $21.4m 0.00% Added +12.8k +12,751
50 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.02% of their portfolio Toronto, A6 165,854165.9k $21.4m $21.4m 0.02% New
51 ARK Investment Management LLC 0.17% of their portfolio ST. PETERSBURG, FL 151,958152.0k $19.6m $19.6m 0.17% Reduced -28.0k -27,972
52 JUPITER ASSET MANAGEMENT LTD 0.18% of their portfolio London, X0 150,990151.0k $19.5m $19.5m 0.18% Added +82.4k +82,371
53 Nellore Capital Management LLC 2.92% of their portfolio REDWOOD CITY, CA 150,119150.1k $19.4m $19.4m 2.92% Reduced -100.0k -100,000
54 Capricorn Fund Managers Ltd 11.61% of their portfolio LONDON, X0 127,630127.6k $16.5m $16.5m 11.61% Reduced -9.0k -9,000
55 COMGEST GLOBAL INVESTORS S.A.S. 0.22% of their portfolio Paris, I0 124,825124.8k $16.1m $16.1m 0.22% New
56 Pictet Asset Management Holding SA 0.02% of their portfolio CAROUGE, V8 118,778118.8k $15.3m $15.3m 0.02% Unchanged
57 Park West Asset Management LLC 1.17% of their portfolio SAN FRANCISCO, CA 116,295116.3k $15.0m $15.0m 1.17% Added +63.3k +63,295
58 Russell Investments Group, Ltd. 0.02% of their portfolio Seattle, WA 115,872115.9k $14.9m $14.9m 0.02% Reduced -35.4k -35,375
59 Dorsal Capital Management, LP 0.51% of their portfolio Redwood City, CA 115,500115.5k $14.9m $14.9m 0.51% Unchanged
60 Marex Group Ltd 0.37% of their portfolio London, X0 107,800107.8k $13.9m $13.9m 0.37% Reduced -12.8k -12,830
61 Penserra Capital Management LLC 0.17% of their portfolio ORINDA, CA 106,243106.2k $13.7m $13.7m 0.17% Added +83.1k +83,091
62 SEI INVESTMENTS CO 0.02% of their portfolio OAKS, PA 106,210106.2k $13.7m $13.7m 0.02% Reduced -7.3k -7,290
63 MIRABELLA FINANCIAL SERVICES LLP 0.96% of their portfolio London, X0 101,618101.6k $13.1m $13.1m 0.96% New
64 Breakout Capital Partners, LP 15.02% of their portfolio NEW YORK, NY 96,50096.5k $12.4m $12.4m 15.02% New
65 RAYMOND JAMES & ASSOCIATES 0.01% of their portfolio ST PETERSBURG, FL 86,20286.2k $11.1m $11.1m 0.01% Reduced -3.3k -3,257
66 State of New Jersey Common Pension Fund D 0.05% of their portfolio TRENTON, NJ 85,63085.6k $11.0m $11.0m 0.05% New
67 JANE STREET GROUP, LLC 0.01% of their portfolio NEW YORK, NY 84,85284.9k $10.9m $10.9m 0.01% Reduced -181.7k -181,660
68 PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio BALTIMORE, MD 82,96083.0k $10.7m $10.7m 0.00% Added +12.7k +12,737
69 Amundi 0.00% of their portfolio Paris, I0 76,20476.2k $10.2m $10.2m 0.00% Reduced -2.4k -2,392
70 Candriam S.C.A. 0.05% of their portfolio STRASSEN, N4 65,20065.2k $8.4m $8.4m 0.05% New
71 BARINGS LLC 0.20% of their portfolio CHARLOTTE, NC 64,40964.4k $8.3m $8.3m 0.20% Added +4.3k +4,254
72 Capital Group Private Client Services, Inc. 0.07% of their portfolio Los Angeles, CA 55,63255.6k $7.2m $7.2m 0.07% Reduced -1.1k -1,070
73 Alberta Investment Management Corp 0.07% of their portfolio EDMONTON, A0 53,70353.7k $6.9m $6.9m 0.07% Reduced -16.0k -16,032
74 ACADIAN ASSET MANAGEMENT LLC 0.02% of their portfolio Boston, MA 48,74048.7k $6.3m $6.3m 0.02% Added +2.6k +2,606
75 Robeco Institutional Asset Management B.V. 0.01% of their portfolio ROTTERDAM, P7 42,60042.6k $5.5m $5.5m 0.01% Reduced -10.1k -10,100
76 Baader Bank Aktiengesellschaft 0.39% of their portfolio Unterschleissheim, 2M 38,69238.7k $5.0m $5.0m 0.39% New
77 OCONNOR, A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS (LLC) 0.14% of their portfolio CHICAGO, IL 37,01637.0k $4.8m $4.8m 0.14% Reduced -13.0k -12,984
78 Hood River Capital Management LLC 0.10% of their portfolio PALM BEACH GARDENS, FL 35,80535.8k $4.6m $4.6m 0.10% Reduced -51.4k -51,411
79 UBS Group AG 0.00% of their portfolio ZURICH, V8 34,71934.7k $4.5m $4.5m 0.00% Reduced -47.1k -47,119
80 Apis Capital Advisors, LLC 3.05% of their portfolio New York, NY 32,00032.0k $4.1m $4.1m 3.05% New
81 ABN AMRO INVESTMENT SOLUTIONS 0.07% of their portfolio PARIS CEDEX 008, I0 31,87331.9k $4.1m $4.1m 0.07% Added +76 +76
82 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 29,04329.0k $3.7m $3.7m 0.00% Added +1.8k +1,815
83 DUMAC, INC. 10.45% of their portfolio DURHAM, NC 25,35025.4k $3.3m $3.3m 10.45% Unchanged
84 Tenzing Global Management, LLC 2.98% of their portfolio SAN FRANCISCO, CA 25,00025.0k $3.2m $3.2m 2.98% New
85 Capital International, Inc./CA/ 0.04% of their portfolio Los Angeles, CA 24,51024.5k $3.2m $3.2m 0.04% Unchanged
86 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 24,06824.1k $3.1m $3.1m 0.00% New
87 KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC 0.01% of their portfolio LOS ANGELES, CA 22,96423.0k $3.0m $3.0m 0.01% New
88 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 22,86822.9k $3.0m $3.0m 0.00% Added +17.9k +17,868
89 Analyst IMS Investment Management Services Ltd. 0.11% of their portfolio Tel-aviv, L3 22,70522.7k $2.8m $2.8m 0.11% Unchanged
90 Driehaus Capital Management LLC 0.03% of their portfolio Chicago, IL 22,01122.0k $2.8m $2.8m 0.03% Added +1.4k +1,400
91 Old Well Partners, LLC 3.23% of their portfolio CHARLOTTE, NC 21,22521.2k $2.7m $2.7m 3.23% New
92 JBF Capital, Inc. 0.40% of their portfolio Aspen, CO 20,00020.0k $2.6m $2.6m 0.40% New
93 FIRST TRUST ADVISORS LP 0.00% of their portfolio Wheaton, IL 18,33418.3k $2.4m $2.4m 0.00% Added +8.0k +7,968
94 MARSHALL WACE, LLP 0.00% of their portfolio LONDON, X0 18,20018.2k $2.3m $2.3m 0.00% Reduced -159.3k -159,287
95 ABS Direct Equity Fund LLC 2.60% of their portfolio Stamford, CT 17,93817.9k $2.3m $2.3m 2.60% Reduced -4.4k -4,424
96 Schonfeld Strategic Advisors LLC 0.02% of their portfolio NEW YORK, NY 17,91617.9k $2.3m $2.3m 0.02% New
97 Channing Global Advisors, LLC 1.93% of their portfolio Miami, FL 17,88517.9k $2.3m $2.3m 1.93% Added +16.2k +16,199
98 Global Endowment Management, LP 0.22% of their portfolio CHARLOTTE, NC 16,21216.2k $2.1m $2.1m 0.22% Reduced -5.9k -5,876
99 Weiss Asset Management LP 0.10% of their portfolio BOSTON, MA 15,75115.8k $2.0m $2.0m 0.10% Reduced -150.2k -150,229
100 IQ EQ FUND MANAGEMENT (SINGAPORE) PRIVATE Ltd 1.03% of their portfolio SINGAPORE, U0 14,00014.0k $1.8m $1.8m 1.03% New