Core Viewpoint - BlackRock, Inc. has increased its stake in Freedom Holding Corp. to 0.85%, investing approximately $89 million, making it the second-largest shareholder after founder Timur Turlov [1][2][3] Group 1: Investment Details - BlackRock acquired an additional 443,965 shares, raising its total holdings to 520,565 shares [2] - The investment by BlackRock reflects growing interest from global institutional investors in Freedom Holding Corp. [3] Group 2: Company Overview - Freedom Holding Corp. operates in 22 countries, including Kazakhstan, the United States, and several European nations, providing a range of financial services [4] - The company is actively developing its financial and digital ecosystem in Kazakhstan, which includes various subsidiaries such as Freedom Bank and Freedom Broker [4] - Freedom Holding Corp. is listed on NASDAQ, Kazakhstan Stock Exchange, and Astana International Exchange under the ticker symbol FRHC [4]

BlackRock, Inc. was founded in 1988 in New York. As of 2025, BlackRock manages more than $12.5 trillion in assets. The company is best known for its iShares ETFs and its Aladdin technology platform. About Freedom Holding Corp. NEW YORK, Aug. 31, 2025 /PRNewswire/ -- Freedom Holding Corp. (NASDAQ: FRHC), a global financial services and technology company, announced that the world's largest investment company, BlackRock, Inc., has increased its stake in the company to 0.85%, investing about $89 million. Black ...

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Core Insights - Freedom Holding Corp. reported a 17% year-over-year increase in revenue for Q1 FY2026, reaching $533.4 million, indicating strong momentum across its diversified business model [1][9] - The CEO emphasized ongoing investments in technology and market expansion, particularly in Central Asia and Europe [1] Financial Highlights - Banking segment revenue increased by 60% to $146.2 million, with Freedom Bank Kazakhstan's customer base growing from 2.5 million to 2.9 million [2] - Insurance segment revenue surged by 18% to $174 million, with net insurance premiums earned reaching $153.3 million and a client base of 1.4 million [2] - Brokerage segment revenue amounted to $176.3 million, marking a 1% year-over-year increase, with brokerage accounts rising from 683,000 to 725,000 [3] - Business units contributed $36.9 million in revenue, driven by growth in Arbuz.kz, Freedom Ticketon, Aviata, and Freedom Telecom [3] Trading and Investment Performance - Net gain on trading securities was $45.6 million, a significant recovery from a net loss of $52.1 million in the same period of 2024, primarily due to increased market value of Kazakhstan government bonds [4] Cost Dynamics and Strategic Investments - Total expenses for the quarter were $492.9 million, with significant components including $113.4 million in interest expense and $93.1 million in payroll and bonuses [6] - The acquisition of Astel Group Ltd was completed, enhancing the telecom infrastructure under the Freedom Telecom brand [5] Profitability and Balance Sheet - The company maintained a net profit of $30.4 million, with diluted earnings per share (EPS) of $0.50 despite higher costs and foreign exchange challenges [7] - Total assets reached $9.69 billion, with shareholders' equity at $1.23 billion [9][10]

[PART I — FINANCIAL INFORMATION](index=4&type=section&id=PART%20I%20%E2%80%94%20FINANCIAL%20INFORMATION) [Unaudited Condensed Consolidated Financial Statements](index=4&type=section&id=Item%201.%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) The unaudited condensed consolidated financial statements for Q2 2025 present the company's financial position, operations, and cash flows, noting a decrease in total assets and net income [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets decreased to **$9.69 billion** as of June 30, 2025, driven by lower cash and receivables, while total shareholders' equity increased to **$1.23 billion** Condensed Consolidated Balance Sheet Highlights (in thousands USD) | Account | June 30, 2025 | March 31, 2025 | | :--- | :--- | :--- | | **Total Assets** | **$9,689,753** | **$9,914,017** | | Cash and cash equivalents | $567,907 | $837,302 | | Investment securities | $2,796,881 | $2,814,733 | | Margin lending, brokerage and other receivables, net | $2,896,713 | $3,319,145 | | Loans issued | $1,749,402 | $1,595,435 | | **Total Liabilities** | **$8,460,694** | **$8,699,659** | | Securities repurchase agreement obligations | $1,070,787 | $1,418,443 | | Customer liabilities | $4,446,747 | $4,304,999 | | Debt securities issued | $670,125 | $469,551 | | **Total Shareholders' Equity** | **$1,229,059** | **$1,214,358** | [Condensed Consolidated Statements of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) For the three months ended June 30, 2025, total net revenue increased to **$533.4 million**, primarily due to a gain on trading securities, while net income decreased to **$30.4 million** due to higher operating expenses Statement of Operations Summary (in thousands USD, except EPS) | Metric | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | | :--- | :--- | :--- | | **Total Revenue, Net** | **$533,423** | **$454,999** | | Fee and commission income | $107,642 | $115,489 | | Net gain/(loss) on trading securities | $45,602 | $(52,102) | | Interest income | $198,571 | $226,004 | | Insurance premiums earned, net | $153,257 | $129,408 | | **Total Expense** | **$492,908** | **$413,401** | | Interest expense | $113,410 | $145,718 | | Payroll and bonuses | $93,101 | $57,524 | | **Net Income** | **$30,396** | **$34,259** | | **Diluted EPS (USD)** | **$0.50** | **$0.57** | [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operating activities decreased to **$480.8 million** for the three months ended June 30, 2025, while net cash used in investing activities significantly increased to **$505.5 million** Cash Flow Summary (in thousands USD) | Cash Flow Activity | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | | :--- | :--- | :--- | | Net cash flows from operating activities | $480,831 | $854,066 | | Net cash flows used in investing activities | $(505,516) | $(94,685) | | Net cash flows from financing activities | $123,381 | $245,534 | | **Net Change in Cash, Cash Equivalents and Restricted Cash** | **$24,096** | **$890,467** | [Notes to Condensed Consolidated Financial Statements](index=10&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) The notes detail accounting policies, business segments, investment concentrations in Kazakhstan sovereign debt, loan portfolio specifics, and the acquisition of Astel Group Ltd., alongside related party transactions - The company operates through four main segments: Brokerage, Banking, Insurance, and Other, with a significant presence in Kazakhstan and expanding into telecommunications and media[15](index=15&type=chunk)[16](index=16&type=chunk)[18](index=18&type=chunk) - As of June 30, 2025, the Group held significant concentrations in debt securities from two issuers: the Ministry of Finance of the Republic of Kazakhstan (**$1.55 billion**) and the Kazakhstan Sustainability Fund JSC (**$477 million**)[58](index=58&type=chunk) - On April 30, 2025, the company acquired 100% of Astel Group Ltd., a Kazakh telecom operator, for a total purchase price of **$22.3 million**, recognizing **$1.74 million** in goodwill[148](index=148&type=chunk)[149](index=149&type=chunk) - The company has significant related party transactions, including purchasing uncollateralized retail loans from FFIN Credit, a company controlled by CEO Timur Turlov, and providing credit risk insurance to the same entity[132](index=132&type=chunk)[136](index=136&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=62&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management's discussion highlights a **17% revenue growth** driven by trading gains and insurance premiums, offset by a **19% expense increase** leading to a net income decrease, alongside strategic expansion into telecommunications Financial Highlights for Q1 FY2026 (Three months ended June 30, 2025) | Metric | Q1 FY2026 | Q1 FY2025 | Change | | :--- | :--- | :--- | :--- | | Total Revenue, Net | $533.4M | $455.0M | +17% | | Total Expense | $492.9M | $413.4M | +19% | | Net Income | $30.4M | $34.3M | -11% | - The company is expanding its digital fintech ecosystem by entering the telecommunications market in Kazakhstan through its subsidiary Freedom Telecom, which recently acquired Astel Group Ltd[217](index=217&type=chunk)[218](index=218&type=chunk) Customer Growth | Segment | June 30, 2025 | March 31, 2025 | | :--- | :--- | :--- | | Brokerage | 725,000 | 683,000 | | Banking | 2,927,000 | 2,515,000 | | Insurance | 1,396,000 | 1,170,000 | [Qualitative and Quantitative Disclosures About Market Risk](index=87&type=section&id=Item%203.%20Qualitative%20and%20Quantitative%20Disclosures%20About%20Market%20Risk) The company faces significant market risks including interest rate, foreign currency, and credit risk, with a hypothetical interest rate increase impacting the trading portfolio by **$91.0 million** and substantial margin lending receivables - A hypothetical increase in interest rates (200 bps for non-USD/EUR, 50 bps for USD/EUR) would result in a **$91.0 million** decline in the fair market value of the trading portfolio as of June 30, 2025[342](index=342&type=chunk) - The company has significant foreign currency exchange risk, particularly with the Kazakhstan tenge, where a **10% adverse change** in the USD relative to other currencies would result in a total loss of **$147.4 million** as of June 30, 2025[343](index=343&type=chunk)[346](index=346&type=chunk)[354](index=354&type=chunk) - Credit risk from margin lending is substantial, with **$2.86 billion** in receivables as of June 30, 2025, of which three non-related party customers accounted for **$1.40 billion**[351](index=351&type=chunk) [Controls and Procedures](index=91&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of June 30, 2025, with no material changes to internal control over financial reporting during the quarter - The principal executive officer and principal financial officer concluded that as of June 30, 2025, the company's disclosure controls and procedures were effective[370](index=370&type=chunk) - No changes in internal control over financial reporting occurred during the quarter that materially affected, or are reasonably likely to materially affect, the company's internal controls[371](index=371&type=chunk) [PART II — OTHER INFORMATION](index=92&type=section&id=PART%20II%20%E2%80%94%20OTHER%20INFORMATION) [Legal Proceedings](index=92&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in an arbitration case with Einride AB regarding a **$10 million** convertible debenture, with a final award expected in May 2026, while other legal matters are routine - Einride AB filed an arbitration claim against the company for an alleged failure to pay a **$10,000** subscription for a convertible debenture, which the company contests, with a final award scheduled for May 2026[153](index=153&type=chunk)[373](index=373&type=chunk) [Risk Factors](index=92&type=section&id=Item%201A.%20Risk%20Factors) No material changes to the risk factors previously disclosed in the company's Annual Report on Form 10-K for the fiscal year ended March 31, 2025, were reported - No material changes from the risk factors disclosed in the 2025 Form 10-K were reported as of June 30, 2025[374](index=374&type=chunk) [Exhibits](index=92&type=section&id=Item%206.%20Exhibits) The report includes various exhibits, such as bond program prospectuses, recent bond offering terms, and CEO/CFO certifications, as required by regulations - Exhibits filed with the report include details on the **$1 billion** bond program, recent bond offerings in May 2025, and certifications from the CEO and CFO[376](index=376&type=chunk)

FAIRFAX, Va., July 30, 2025 /PRNewswire/ -- Freedom Financial Holdings (OTCQX: FDVA), (the "Company" or "Freedom"), the holding company for The Freedom Bank of Virginia (the "Bank") today announced net income of $799,896 or $0.11 per diluted share for the second quarter compared to net income of $2,019,348, or $0.28 per diluted share for the three months ended March 31, 2025, and net income of $2,044,233 or $0.28 per diluted share for the three months ended June 30, 2024. Net income for the six months ended ...

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Company Overview - USANA Health Sciences is a global leader in health and wellness products, focusing on social wellness as a key component of its business strategy since its founding in 1992 [8] - The company operates in 25 countries, emphasizing clear communication to build trust with customers and distributors [8] Leadership Insights - Kevin Guest, the Executive Chairman of USANA, emphasizes the importance of personal freedom and self-care, encouraging individuals to take control of their independence [2][6] - Guest's book, "All the Right Reasons: 12 Timeless Principles for Living a Life in Harmony," outlines principles for achieving personal empowerment and harmony [2][5] Principles for Personal Empowerment - Guest identifies five key actions to celebrate personal freedom: releasing limiting beliefs, overcoming self-doubt, leaving toxic relationships, defeating loneliness, and prioritizing self-care [7] - The essence of freedom is described as inspiring joy, cultivating confidence, and transforming lives [6] Social Responsibility - Proceeds from Guest's book are dedicated to feeding hungry children, with each purchase providing 40 meals, highlighting the company's commitment to social responsibility [6]

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Core Insights - Closed-end funds (CEFs) provide financial security and the potential for early retirement with yields exceeding 8% [2][3] - The average retiree has a net worth of $1.79 million, which could generate significant income through CEFs [5][6] - Three specific CEFs are highlighted for their strong yields and potential for income generation [9][10][12] CEF Performance and Characteristics - The Adams Diversified Equity Fund (ADX) yields 8.8% and has a history of outperforming the S&P 500, currently trading at a 7.5% discount to NAV [9] - The Nuveen Core Plus Impact Fund (NPCT) offers a 12.2% yield, focusing on low-risk corporate bonds and benefiting from higher interest rates [10][11] - The Nuveen Real Asset Income and Growth Fund (JRI) yields 12.3% and invests in REITs, with a discount that has decreased from 15% to 3.1% [12] Income Potential from CEFs - A portfolio of the three highlighted CEFs could yield an average of 11.1%, potentially generating around $200,000 annually for an average retiree [13][14] - For median retirees with a net worth of $409,900, the income from these CEFs could reach approximately $3,798 per month, supplemented by Social Security benefits [14]