Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

KASPI KZ JSC (KSPI)

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

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↓ -14
Streak
1Q ▼
Buyers last Q
51%

Smart Money Signals — KSPI

Based on 170 hedge funds · latest filing: 2025 Q4 · updated quarterly

📉

Selling streak — 1 quarter in a row

last 6Q
For 1 consecutive quarter, more hedge funds reduced or closed their KSPI positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊

High ownership — 91% of 3.0Y peak

91% of all-time peak
170 funds currently hold this stock — 91% of the 3.0-year high of 186 funds (reached 2025 Q1). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
〰️

Stable — ownership unchanged year-over-year

fund count last 6Q
The number of hedge funds holding KSPI is almost the same as a year ago (+1 funds, +1% change). No significant rush to buy or sell — institutional backing is holding steady.
🟡

Slight buying edge — 51% buying

97 buying95 selling
Last quarter: 97 funds bought or added vs 95 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
⚠️

Fewer new buyers each quarter (-14 vs last Q)

new funds entering per quarter
Funds opening this position for the first time: 35 → 17 → 41 → 27. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
🔄

Mostly new holders — 26% entered in last year

■ 6% conviction (2yr+) ■ 68% medium ■ 26% new
Only 10 funds (6%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.
📈

Growing discovery — still being found

31 → 35 → 17 → 41 → 27 new funds/Q
New funds entering each quarter: 35 → 17 → 41 → 27. A growing number of institutions are discovering KSPI each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
📊

Mixed cohorts — 2% veterans, 34% new entrants

■ 2% veterans ■ 63% 1-2yr ■ 34% new
Of 175 current holders: 4 (2%) held 2+ years, 111 held 1–2 years, 60 (34%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
📋

Smaller funds dominant — 9% AUM from top-100

9% from top-100 AUM funds
27 of 170 holders rank in the top 100 by AUM, but together hold only 9% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
3.2
out of 10
Low Exit Risk
Exit risk score 3.2/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.

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.

Institutional Sentiment Summary — KSPI

In 2025 Q4, 97 hedge funds were net buyers of KSPI (27 opened a new position, 70 added to an existing one), while 95 reduced or exited (54 trimmed, 41 sold completely) — a 51% buyer ratio, indicating a slight buying edge. Net fund flow last quarter: -14 funds (more exits than new entries). Total institutional holders: 170.

Hedge Fund Ownership: KSPI

How many hedge funds hold KSPI — quarterly history vs. share price
Quarterly hedge fund ownership of KSPI vs. share price

Market Analysis: KSPI

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: KSPI

Technology Software - Infrastructure

Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

20 top-rated funds 13 high-conviction
Consensus
5.7
/ 10
breadth
×
Elite
4.3
/ 10
conviction
Hedge Fund Positioning: KSPI
2026 Q1 Stats Unlock in 8 days 175 + Investors

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

Metric All 13F Filers (2025 Q4) Prior (2025 Q3) Change
Funds Holding 175 193 -9.33%
13F Shares 85M 74M 15.14%
Total Value $6.67B $6.05B 10.21%
New Positions 27 43 -16
Increased Positions 83 81 +2
Closed Positions 43 21 +22
Reduced Positions 59 63 -4
Total Calls 5 6 -16.67%
Total Puts 3 4 -25.0%
PUT/CALL Ratio 0.6 0.67 Bullish

Statistics: KSPI

View More

Valuation Measures Data as of: --

Market Cap --
Enterprise Value --
Trailing P/E --
Forward P/E --
PEG Ratio (5yr expected) --
Price/Sales (ttm) --
Price/Book (mrq) --
Enterprise Value/Revenue --
Enterprise Value/EBITDA --
Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

Profitability
Profit Margin --
Return on Assets (ttm) --
Return on Equity (ttm) --
Income Statement & Cash Flow
Revenue (ttm) --
Net Income Avi to Common (ttm) --
Diluted EPS (ttm) --
Total Cash (mrq) --
Total Debt/Equity (mrq) --
Levered Free Cash Flow (ttm) --

Institutional Holders (2026 Q1)

175 + investors

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

Top 25 institutional holders of KSPI — 2025 Q4 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Ranmore Fund Management Ltd 6.07% 620,000 $45.9M
2 North of South Capital LLP 3.79% 569,681 $42.2M
3 Renaissance Capital LLC 2.65% 42,619 $3.7M
4 Truffle Hound Capital, LLC 2.11% 110,000 $8.1M
5 Evergreen Wealth Management, LLC 1.95% 51,073 $3.8M
6 Capricorn Fund Managers Ltd 1.37% 118,900 $8.8M
7 Generali Investments CEE, investicni spolecnost, a.s. 0.73% 187,568 $13.9M
8 PZENA INVESTMENT MANAGEMENT LLC 0.64% 2,672,387 $197.9M
9 Mondrian Investment Partners LTD 0.48% 432,689 $32.0M
10 SANDS CAPITAL MANAGEMENT, LLC 0.46% 1,586,334 $117.5M
11 BAILLIE GIFFORD & CO 0.39% 5,123,207 $379.5M
12 Marex Group plc 0.37% 107,800 $13.9M
13 Athena Wealth Management, LLC 0.34% 4,458 $348K
14 DUMAC, INC. 0.28% 31,510 $2.3M
15 Euro Pacific Asset Management, LLC 0.23% 31,680 $2K
16 Amova Asset Management Americas, Inc. 0.17% 161,316 $12.0M
17 BARINGS LLC 0.11% 88,751 $6.6M
18 WCM INVESTMENT MANAGEMENT, LLC 0.09% 571,412 $41.3M
19 Aberdeen Group plc 0.07% 582,947 $43.2M
20 Clear Harbor Asset Management, LLC 0.07% 12,825 $950K
21 State of New Jersey Common Pension Fund D 0.06% 197,147 $14.6M
22 Fiera Capital Corp 0.06% 217,339 $16.1M
23 Baader Bank Aktiengesellschaft 0.04% 6,832 $503K
24 Patriot Financial Group Insurance Agency, LLC 0.04% 8,954 $663K
25 Ninety One UK Ltd 0.04% 215,578 $16.0M
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?

Selling streak — 1 quarter in a row: For 1 consecutive quarter, more hedge funds reduced or closed their KSPI positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.

What is the institutional breadth score for KSPI?

Slight buying edge — 51% buying: Last quarter: 97 funds bought or added vs 95 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.

What is the fund quality score for KSPI holders?

Smaller funds dominant — 9% AUM from top-100: 27 of 170 holders rank in the top 100 by AUM, but together hold only 9% of total institutional value. The stock is held primarily by smaller and mid-sized funds.

How long have hedge funds held KSPI?

Mostly new holders — 26% entered in last year: Only 10 funds (6%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.

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.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.