Joint Stock Company Kaspi.kz - Depositary Receipt (Common Stock)
KZ ˙ KAS ˙ US48581R2058
SecurityKZ:KSPID / Joint Stock Company Kaspi.kz - Depositary Receipt (Common Stock)
InstitutionSei Investments Co
Latest Disclosed Ownership169,201 shares
Latest Disclosed Value $ 13,219,663
Sei Investments Co reports 4.40% decrease in ownership of KSPID / Joint Stock Company Kaspi.kz - Depositary Receipt (Common Stock)

On February 13, 2026 - Sei Investments Co filed a 13F-HR form disclosing ownership of 169,201 shares of Joint Stock Company Kaspi.kz - Depositary Receipt (Common Stock) (KZ:KSPID) valued at $13,219,663 USD as of December 31, 2025. The entity filed a previous 13F-HR on November 13, 2025 disclosing 176,995 shares of Joint Stock Company Kaspi.kz - Depositary Receipt (Common Stock). This represents a change in shares of -4.40% during the quarter.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-02-13 2025-12-31 13F KASPI KZ JSC SPONSORED ADS 48581R205 169,201 -7,794 -4.40 13,220 -8.56 0.0130
2025-11-13 2025-09-30 13F KASPI KZ JSC SPONSORED ADS 48581R205 176,995 -178 -0.10 14,457 -3.88 0.0155
2025-08-14 2025-06-30 13F KASPI KZ JSC SPONSORED ADS 48581R205 177,173 20,835 13.33 15,040 3.62 0.0174
2025-05-14 2025-03-31 13F/A-1 KASPI KZ JSC SPONSORED ADS 48581R205 156,338 8,374 5.66 14,516 3.58 0.0187
2025-05-13 2025-03-31 13F KASPI KZ JSC SPONSORED ADS 48581R205 149,384 1,420 14,144 0.0154
2025-02-11 2024-12-31 13F KASPI KZ JSC SPONSORED ADS 48581R205 147,964 -3,322 -2.20 14,014 -12.60 0.0180
2024-11-12 2024-09-30 13F KASPI KZ JSC SPONSORED ADS 48581R205 151,286 45,076 42.44 16,035 17.02 0.0208
2024-08-13 2024-06-30 13F KASPI KZ JSC SPONSORED ADS 48581R205 106,210 -7,290 -6.42 13,702 -6.15 0.0194
2024-05-07 2024-03-31 13F KASPI KZ JSC SPONSORED ADS 48581R205 113,500 113,500 14,601 0.0214
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.