The world's largest investment company increased its stake in Freedom Holding

BlackRock, the world's largest investment company, increased its stake in Freedom Holding Corp. during the last reporting period, according to a disclosure on the SEC's website.

BlackRock owned 520,565 shares of Freedom Holding, or 0.85% of the holding, at the end of the second quarter, up 443,965 shares from the U.S. giant's holdings in the first quarter.

BlackRock is the second largest co-owner of Freedom Holding, according to Market Screener data. The main shareholder is Freedom Holding founder Timur Turlov, who owns more than 69% of the company's shares. Among the shareholders of Freedom Holding are also such large investors as Millennium Management, Goldman Sachs and Morgan Stanley.

"The presence of such institutional investors shows confidence in our strategy and business model. This is another indicator that we are moving in the right direction," Turlov commented in his Telegram channel.

Freedom Holding in 2019 became the first broker from the CIS to place shares on the American exchange Nasdaq. Since then, the company's securities have risen in value by more than 1000%.

In June, Freedom Holding shares were included in the Russell 3000 index, which covers 98% of all public companies in the U.S. market. In July, the securities were added to the First Trust Financial AlphaDEX Fund (FXO), which also includes securities of Berkshire Hathaway investment holding company managed by Warren Buffett, major Wall Street banks Goldman Sachs and Citigroup, trading platform Robinhood, crypto exchange Coinbase and other companies.

This article was AI-translated and verified by a human editor