13F Insight
DOSSIER · 13F-HR · Q1 2026

Baring Fintech Manager Holding Ltd

$1.3B in tracked AUM across 1 positions as of Q1 2026.

BF
CIK 0002053290 · last filed Mar 31, 2026
Total AUM
$1.3B
as of Q1 2026
Holdings
1
—
positions
Whale Score
77
77
strong
Activity
—
no data
changes this Q
AI Analysis · Q1 2026

Portfolio Overview

Baring Fintech Manager Holding Ltd presents a textbook example of a high-conviction, concentrated investment strategy. As of the reporting period ending September 30, 2025, the firm manages a total portfolio valued at approximately $1.47 billion. The portfolio is characterized by an extreme lack of diversification, consisting of a single holding. This "all-in" approach indicates that the firm does not adhere to traditional risk management through broad asset allocation bu...

Key Holdings

The portfolio is entirely composed of KASPI KZ JSC (KSPI), a position valued at $1.47 billion. The firm holds 18.05 million shares, which represents 100% of the total assets under management. Kaspi.kz is a dominant fintech ecosystem in Kazakhstan, often described as a "super app" combining payments, e-commerce, and financial services. The size of the stake—totaling nearly $1.5 billion—suggests that Baring Fintech Manager Holding Ltd is a significant institutional shareholder in the company. The fact that the firm holds no other assets indicates that the analysts and managers have identified Kaspi as a unique opportunity that offers sufficient growth and stability to preclude the need for diversification.

Quarter at a glance — Q1 2026

Position-change comparison pending.

No quarter-over-quarter changes available.

Top 10 holdings

By portfolio weight as of Q1 2026.

#HoldingValueSharesWeight
01
KSPI
KASPI KZ JSC
$1.3B18.1M100.0%

Filing history

2026Q1Mar 31
$1.3B▼ 5.2%
1 positionsView →2025Q4Dec 31
$1.4B▼ 4.3%
1 positionsView →2025Q3Sep 30
$1.5B▼ 3.8%
1 positionsView →2025Q2Jun 30
$1.5B▼ 8.6%
1 positionsLocked2025Q1Mar 31
$1.7B▼ 2.0%
1 positionsLocked2024Q4Dec 31
$1.7B—
1 positionsLocked