Two Kazakhstani Stocks That Wall Street Billionaires Are Buying

Of the Kazakhstani stocks traded on exchanges outside the country, only two—Freedom Holding and Kaspikz—appear in the portfolios of Wall Street’s wealthiest investors. Oninvest.com took a look at which billionaires are investing in them.

Citadel Advisors, which was named the world’s most profitable hedge fund in 2024 according to LCH Investments, first purchased shares of Freedom Holding in late 2020, one year after the company’s Nasdaq debut. As of the end of the first quarter of 2026, the hedge fund’s portfolio included just under 30,000 shares of Freedom, which were worth $4.3 million at the time. Compared to the end of last year, Citadel Advisors reduced its stake by selling approximately 17,000 shares.

Griffin also owned shares in Kaspi.kz, but sold them in 2025, leaving only options in his portfolio.

The hedge fund Millennium Management has held shares in Freedom since 2024. In the first quarter, it increased its holdings to nearly 60,000 shares by purchasing approximately 9,000 additional shares. As a result, the value of its stake in the Kazakhstani company reached $8.7 million.

Millennium Management also invested in Kaspi.kz, but exited the position in early 2026.

AQR Capital Management, which manages $187 billion, invested in Freedom last year and increased its stake by 50 percent early this year. As of the end of the first quarter, the stake was valued at $15.7 million.

As of the end of the first quarter, Point72 held approximately 7,800 shares of Kaspi.kz with a total value of $576,000. This is not its first investment in the company—it purchased 37,000 shares in the third quarter of 2025 but sold the entire stake in the fourth quarter. In the first quarter of 2026, it also sold its entire stake in Freedom Holding—about 31,000 shares.

This article is based on Form 13F filings. Investment managers overseeing portfolios worth $100 million or more are required to submit these filings to the U.S. regulator on a quarterly basis. All data in this article is current as of the end of the first quarter of 2026—the most recent period for which large investors have publicly disclosed their portfolios. They are required to disclose their second-quarter data by mid-August.

The net worths of billionaires are based on data from Forbes magazine.

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In the “Guru Portfolios” section on Oninvest, you can track the composition and changes in the portfolios of the world’s largest investors and funds. The service allows you to analyze the largest holdings, new ideas, and changes in asset allocations based on 13F filings, as well as compare portfolio performance over time.

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