BlackRock has become the second-largest shareholder of Freedom Holding Corp. after boosting its stake in the company to 0.85 per cent, with an investment valued at about $89 million.

Freedom Holding Corp., listed on NASDAQ under the ticker FRHC, is a global financial services and technology company and the parent firm of the Freedom24 investment platform.

The move places BlackRock behind only founder and chief executive officer Timur Turlov in terms of shareholding.

According to Bloomberg, BlackRock acquired an additional 443,965 shares of Freedom Holding during the latest reporting period, bringing its total ownership to 520,565 shares.

Other significant institutional investors in the company include State Street Corp., Grace Partners of DuPage L.P., and Geode Capital Management.

Together, these holdings reflect what the company describes as a growing recognition of its strong market position and long-term growth strategy.

“We welcome the growing interest from global institutional investors,” said Turlov.

“The presence of partners such as BlackRock confirms the resilience of our business and the strategic potential of Freedom Holding in international markets,” he added.

BlackRock, founded in 1988 in New York, manages more than $12.5 trillion in assets as of 2025. It is globally recognised for its iShares exchange-traded funds and its Aladdin platform, which offers investment management and risk analytics.

Its decision to increase its stake underscores the confidence of the world’s largest asset manager in Freedom Holding’s international expansion and the development of its financial ecosystem.

Meanwhile, Freedom Holding Corp. continues to post strong financial results. Revenue for the 2025 fiscal year reached $2.05 billion, representing a 23 per cent increase year-on-year, while net profit totalled $84.5 million.

What is more, the company’s assets also expanded from $8.3 billion to $9.9 billion.

In Kazakhstan, the group is actively developing a wide-ranging ecosystem that includes Freedom Bank, Freedom Broker, Freedom Life, and Freedom Insurance.

It is also expanding into digital lifestyle services with platforms such as Arbuz.kz, Freedom Ticketon, and Aviata.