TH
Temasek Holdings 13F Filings & Institutional Holdings (Q2 2026)
Temasek HoldingsCIK: 0001021944
Diversified strategyMomentum followerQuality / disciplined sizing
Total reported value
$37.3B
Reporting period: 2026-06-30 · Number of holdings: 196
Temasek Holdings disclosed 196 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $37.3B and a quarterly turnover rate of 31.0%.
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Personality snowflake
- Concentration
- 15.99
- Portfolio Stability
- 31.01
- Momentum
- 100
- Sector conviction
- 69.72
- Diversification
- 100
- Sizing Uniformity
- 75.28
Temasek Holdings's disclosed holdings carry a Herfindahl concentration index of 0.040 — mathematically equivalent to about 25 equally-sized positions, well below its 196 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 2.47), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govNew buy 84615Q103
Trim BLK
-2.5% -$130.9M
Add GOOGL
+50.5% $1.2B
New buy GOOG
Trim PDD
-26.5% -$227.0M
Trim MA
+1.1% $62.8M
Holdings Map
New buyAddUnchangedTrim
Institutional Game-State Analysis
Core Intent
The latest filing (quarter ended June 30) shows Temasek executing a deliberate rotation inside an already hyper-diversified 177-position book: it raised GOOGL from 4.44% to 6.79%, opened a separate 1.90% GOOG line — taking combined Alphabet issuer exposure to roughly 8.7% — added Broadcom, initiated ASML, and established a new 4.51% top-tier position disclosed only under a CUSIP identifier. The offsetting sales clustered in Visa (6.61% to 6.08%) and PDD (1.65% to 0.74%), alongside a token add in Sterling Infrastructure, tracing a visible path of capital out of payments and China e-commerce into US mega-cap platforms and semiconductors. Structurally, the ~38% financials anchor held firm and the communication-services sleeve thickened to about 14.6%; notably, although the buying concentrates in large caps, the book's net momentum tilt ended near neutral (+0.49 percentage points) — consistent with rebalancing within the existing architecture rather than a directional bet — and ~31% turnover marks this as an active but measured quarter.
Macro & Fundamentals
Every material addition lands in the segments that have defined this market's leadership — a mega-cap platform, AI and networking silicon, lithography equipment — so the flows appear to line up with the broad capital rotation into large-cap communication services and the compute/AI complex, though this is an inference drawn from a single-quarter holdings snapshot rather than evidence of causation. The PDD trim does reduce direct China e-commerce exposure, but whether it presages a wider regional de-allocation cannot be confirmed from these figures alone. Two caveats temper any read of the sector table: roughly 13% of reported value maps to no classification, and 13Fs capture only the US-listed slice of what is otherwise a global portfolio, so the published sector weights are approximations.
Blind Spots / Risks
Diversification statistics flatter this book. With an HHI of roughly 0.04 across 177 names, the portfolio screens as near-index in dispersion (an effective breadth of only ~25 positions) — yet aggregate the two Alphabet share classes and a single issuer commands 8.69%, larger than any other line on the page. Inside a vehicle whose identity is breadth, the effective largest bet sits in one consensus mega-cap platform: textbook crowded-trade exposure, where an idiosyncratic shock or a positioning squeeze in that single name would inflict damage well beyond what the dispersion math implies. Visibility compounds the problem — a 4.51% new position identifiable only by CUSIP, plus ~13% unmapped value, mean a meaningful slice of the book cannot be independently verified from this filing, so true single-name concentration is likely understated.
The summary above is AI-generated directly from this institution's Form 13F filings on the SEC's EDGAR system and reflects historical holdings only. It is not investment advice — verify the details against the original filing linked below. View the original 2026-06-30 Form 13F filing on SEC.gov
Top 10 holdings by weight
Full holdings list this quarter
Showing top 177 holdings (of 196 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | BLK | Blackrock Inc | Stock-Financials | 13.41% | -3.41% | -2.54% | |
| 2 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 6.79% | +2.35% | +50.47% | |
| 3 | V | Visa Inc-class A Shares | Stock-Financials | 6.08% | -0.53% | -1.12% | |
| 4 | NVDA | Nvidia CORP | Stock-Tech | 4.64% | -0.76% | -8.45% | |
| 5 | ✓ | Stock-Other | 4.51% | +4.51% | NEW | ||
| 6 | MA | Mastercard Inc - A | Stock-Financials | 4.49% | -0.79% | +1.08% | |
| 7 | AVGO | Broadcom Inc | Stock-Tech | 3.79% | +0.20% | +5.65% | |
| 8 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 2.92% | -0.37% | -5.18% | |
| 9 | MSFT | Microsoft CORP | Stock-Tech | 2.65% | -0.59% | -0.92% | |
| 10 | IBN | Icici Bank Ltd-spon Adr | Stock-Financials | 2.28% | -0.20% | — | |
| 11 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 1.90% | +1.90% | NEW | |
| 12 | GEV | GE Vernova Inc | Stock-Industrials | 1.82% | -0.05% | -11.28% | |
| 13 | DASH | Doordash Inc - A | Stock-Consumer Disc | 1.71% | +0.01% | — | |
| 14 | SPGI | S&p Global Inc | Stock-Financials | 1.65% | -0.30% | +7.91% | |
| 15 | TMO | Thermo Fisher Scientific Inc | Stock-Healthcare | 1.64% | -0.37% | -2.23% | |
| 16 | SE | Sea Ltd-adr | Stock-Comm Services | 1.48% | +0.04% | +8.74% | |
| 17 | INTA | Intapp Inc | Stock-Other | 1.16% | -0.28% | — | |
| 18 | LRCX | Lam Research CORP | Stock-Tech | 1.15% | +0.45% | -0.53% | |
| 19 | RBLX | Roblox CORP -class A | Stock-Comm Services | 1.14% | -0.30% | — | |
| 20 | TPG | Tpg Inc | Stock-Financials | 1.11% | -0.22% | +1.35% | |
| 21 | HDB | Hdfc Bank Ltd-adr | Stock-Financials | 1.06% | +0.04% | +21.86% | |
| 22 | ZGN | Ermenegildo Zegna N.V. | Stock-Other | 0.95% | +0.02% | — | |
| 23 | TECK | Teck Resources Ltd-cls B | Stock-Materials | 0.91% | -0.05% | — | |
| 24 | KKR | Kkr & Co Inc | Stock-Financials | 0.90% | -0.17% | +4.16% | |
| 25 | ABNB | Airbnb Inc-class A | Stock-Consumer Disc | 0.85% | -0.07% | — | |
| 26 | BKNG | Booking Holdings Inc | Stock-Consumer Disc | 0.84% | +0.05% | +2955.49% | |
| 27 | TDG | Transdigm Group Inc | Stock-Industrials | 0.82% | -0.01% | +4.22% | |
| 28 | JPST | Jpmorgan Ultra-short Income | ETF-Other | 0.80% | -0.18% | — | |
| 29 | PDD | Pdd Holdings Inc | Stock-Consumer Disc | 0.74% | -0.91% | -26.45% | |
| 30 | MRVL | Marvell Technology Inc | Stock-Tech | 0.69% | +0.20% | -43.22% | |
| 31 | CDNS | Cadence Design Sys Inc | Stock-Tech | 0.68% | — | -10.23% | |
| 32 | LIN | Linde plc | Stock-Materials | 0.66% | -0.13% | -2.03% | |
| 33 | STRL | Sterling Infrastructure Inc | Stock-Industrials | 0.66% | +0.58% | +399.45% | |
| 34 | FIX | Comfort Systems USA Inc | Stock-Industrials | 0.66% | +0.05% | -7.38% | |
| 35 | ONC | Beone Medicines Ltd-adr | Stock-Other | 0.65% | -0.19% | -1.96% | |
| 36 | APO | Apollo Global Management Inc | Stock-Financials | 0.64% | -0.23% | -14.31% | |
| 37 | ASML | ASML Holding N.V. | Stock-Tech | 0.63% | +0.63% | NEW | |
| 38 | GE | General Electric | Stock-Industrials | 0.61% | +0.05% | +0.27% | |
| 39 | U | Unity Software Inc | Stock-Tech | 0.59% | -0.03% | -10.89% | |
| 40 | META | Meta Platforms Inc-class A | Stock-Comm Services | 0.59% | -0.08% | +9.69% | |
| 41 | ISRG | Intuitive Surgical Inc | Stock-Healthcare | 0.53% | +0.19% | +117.36% | |
| 42 | LLY | Eli Lilly & Co | Stock-Healthcare | 0.49% | -0.03% | -12.57% | |
| 43 | NFLX | Netflix Inc | Stock-Comm Services | 0.48% | -0.17% | +22.14% | |
| 44 | DNLI | Denali Therapeutics Inc | Stock-Other | 0.48% | +0.04% | — | |
| 45 | WFC | Wells Fargo & Co | Stock-Financials | 0.48% | +0.05% | +30.98% | |
| 46 | FTAI | FTAI Aviation Ltd. | Stock-Industrials | 0.48% | +0.15% | +63.32% | |
| 47 | MSCI | Msci Inc | Stock-Financials | 0.46% | -0.29% | -28.02% | |
| 48 | EWY | Ishares Msci South Korea ETF | ETF-Other | 0.46% | +0.19% | +27.40% | |
| 49 | VRT | Vertiv Holdings Co-a | Stock-Industrials | 0.44% | — | -6.79% | |
| 50 | GEHC | GE Healthcare Technology | Stock-Healthcare | 0.43% | -0.48% | -35.47% |
1–50 of 177
Portfolio Performance
Performance for Q3 2026
+7.8%
Performance Last 4 Quarters
+7.1%
- Stdev
- +15%
- Beta
- +0.95
- Alpha
- -3.5%
- Max Drawdown
- -13.6%
- Annualized Perf
- +15.4%
- Batting Avg vs S&P
- +47.2%
- Sortino
- +1.93
- Stutzer
- +0.3
- Treynor
- +0.16
- Sterling
- +0.81
- Calmar
- +1.13
- Information Ratio
- -0.52
- Tracking Error
- +8.6%
- Stdev Down
- +8%
- Winning Months %
- +63.9%
- Losing Months %
- +36.1%
- Best 12 Months
- +39.4%
- Worst 12 Months
- +2.7%
- Efficiency Ratio
- +0.41
- Sharpe
- +1.03
- Stdev Sectors
- +11.6%
- Skewness
- -0.02
- Kurtosis
- -0.82
- Upside Potential
- +3.71
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 196 | $37.3B | 31 | ||
| 2026 Q1 | 152 | $30.5B | 24 | ||
| 2025 Q4 | 146 | $31.6B | 24 | ||
| 2025 Q3 | 129 | $29.0B | 40 | ||
| 2025 Q2 | 131 | $26.2B | 0 | ||
| 2025 Q1 | 128 | $24.8B | 100 | ||
| 2024 Q4 | 135 | $25.4B | 0 | ||
| 2024 Q3 | 121 | $24.7B | 0 | ||
| 2024 Q2 | 90 | $21.5B | 0 | ||
| 2024 Q1 | 101 | $18.1B | 0 | ||
| 2023 Q4 | 101 | $17.9B | 0 | ||
| 2023 Q3 | 82 | $16.8B | 0 | ||
| 2023 Q2 | 75 | $17.3B | 0 | ||
| 2023 Q1 | 70 | $16.9B | 0 | ||
| 2022 Q4 | 72 | $17.1B | 0 | ||
| 2022 Q3 | 81 | $16.7B | 0 | ||
| 2022 Q2 | 96 | $18.3B | 0 | ||
| 2022 Q1 | 96 | $23.7B | 0 | ||
| 2021 Q4 | 95 | $27.7B | 0 | ||
| 2021 Q3 | 92 | $28.6B | 0 | ||
| 2021 Q2 | 99 | $29.9B | 0 | ||
| 2021 Q1 | 71 | $25.5B | 27 | ||
| 2020 Q4 | 71 | $23.3B | 29 | ||
| 2020 Q3 | 67 | $19.7B | 22 | ||
| 2020 Q2 | 52 | $16.7B | 60 | ||
| 2020 Q1 | 58 | $13.6B | 28 | ||
| 2019 Q4 | 53 | $15.3B | 18 | ||
| 2019 Q3 | 52 | $13.6B | 15 | ||
| 2019 Q2 | 53 | $14.0B | 15 | ||
| 2019 Q1 | 50 | $14.4B | 31 | ||
| 2018 Q4 | 58 | $14.5B | 34 | ||
| 2018 Q3 | 55 | $17.2B | 22 | ||
| 2018 Q2 | 62 | $19.0B | 13 | ||
| 2018 Q1 | 70 | $18.2B | 20 | ||
| 2017 Q4 | 63 | $16.3B | 41 | ||
| 2017 Q3 | 61 | $17.2B | 18 | ||
| 2017 Q2 | 59 | $15.5B | 21 | ||
| 2017 Q1 | 40 | $13.4B | 13 | ||
| 2016 Q4 | 39 | $12.5B | 28 | ||
| 2016 Q3 | 31 | $12.3B | 23 | ||
| 2016 Q2 | 29 | $12.8B | 12 | ||
| 2016 Q1 | 28 | $12.7B | 7 | ||
| 2015 Q4 | 26 | $13.2B | 27 | ||
| 2015 Q3 | 21 | $10.5B | 46 | ||
| 2015 Q2 | 30 | $16.0B | 22 | ||
| 2015 Q1 | 21 | $13.3B | 48 | ||
| 2014 Q4 | 24 | $9.6B | 23 | ||
| 2014 Q3 | 23 | $9.4B | 40 | ||
| 2014 Q2 | 20 | $6.7B | 14 | ||
| 2014 Q1 | 18 | $6.5B | 33 | ||
| 2013 Q4 | 17 | $4.8B | 34 | ||
| 2013 Q3 | 14 | $3.6B | 33 | ||
| 2013 Q2 | 24 | $3.9B | 0 |
Holding changes this quarter
Temasek Holdings's most significant position changes for 2026-06-30: New buy: ; New buy: Alphabet Inc-cl C (GOOG); New buy: ASML Holding N.V. (ASML); Sold out: Salesforce Inc (CRM); New buy: Credo Technology Group Holding Ltd (CRDO).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | ✓ | +4.5% | NEW | New buy | |
| 2 | GOOGL | Alphabet Inc-cl A | +2.4% | +50.47% | Add |
| 3 | GOOG | Alphabet Inc-cl C | +1.9% | NEW | New buy |
| 4 | ASML | ASML Holding N.V. | +0.6% | NEW | New buy |
| 5 | STRL | Sterling Infrastructure Inc | +0.6% | +399.45% | Add |
| 6 | LRCX | Lam Research CORP | +0.5% | -0.53% | Trim |
| 7 | CRDO | Credo Technology Group Holding Ltd | +0.4% | NEW | New buy |
| 8 | MU | Micron Technology Inc | +0.3% | +98.90% | Add |
| 9 | ANET | Arista Networks Inc | +0.3% | NEW | New buy |
| 10 | CAT | Caterpillar Inc | +0.3% | +167.68% | Add |
| 11 | MRK | Merck & Co. Inc. | +0.3% | NEW | New buy |
| 12 | ✓ | +0.2% | NEW | New buy | |
| 13 | AVGO | Broadcom Inc | +0.2% | +5.65% | Add |
| 14 | MRVL | Marvell Technology Inc | +0.2% | -43.22% | Trim |
| 15 | ✓ | +0.2% | NEW | New buy | |
| 16 | TJX | Tjx Companies Inc | +0.2% | NEW | New buy |
| 17 | ISRG | Intuitive Surgical Inc | +0.2% | +117.36% | Add |
| 18 | EWY | Ishares Msci South Korea ETF | +0.2% | +27.40% | Add |
| 19 | GDX | Vaneck Gold Miners ETF | +0.2% | NEW | New buy |
| 20 | ✓ | +0.2% | NEW | New buy | |
| 21 | FTAI | FTAI Aviation Ltd. | +0.2% | +63.32% | Add |
| 22 | KBWB | Invesco Kbw Bank ETF | +0.1% | +50.27% | Add |
| 23 | WMT | Walmart Inc | +0.1% | +220.47% | Add |
| 24 | GH | Guardant Health Inc | +0.1% | +3.89% | Add |
| 25 | DE | Deere & Co | +0.1% | +106.45% | Add |
| 26 | KLAC | Kla CORP | +0.1% | +900.00% | Add |
| 27 | QCOM | Qualcomm Inc | +0.1% | NEW | New buy |
| 28 | COPX | Global X Copper Miners ETF | +0.1% | NEW | New buy |
| 29 | ATAT | Atour Lifestyle Holdings-adr | +0.1% | +1275.89% | Add |
| 30 | UNH | Unitedhealth Group Inc | +0.1% | -3.62% | Trim |
| 31 | GLD | Spdr Gold Shares | +0.1% | NEW | New buy |
| 32 | HD | Home Depot Inc | +0.1% | +54.86% | Add |
| 33 | GLW | Corning Inc | +0.1% | NEW | New buy |
| 34 | ✓ | +0.1% | NEW | New buy | |
| 35 | BKNG | Booking Holdings Inc | +0.1% | +2955.49% | Add |
| 36 | FIX | Comfort Systems USA Inc | +0.1% | -7.38% | Trim |
| 37 | GE | General Electric | +0.1% | +0.27% | Add |
| 38 | WFC | Wells Fargo & Co | +0.1% | +30.98% | Add |
| 39 | FLYW | Flywire Corp-voting | +0.1% | — | Unchanged |
| 40 | AZN | AstraZeneca PLC | +0.1% | +51.66% | Add |
| 41 | SE | Sea Ltd-adr | 0% | +8.74% | Add |
| 42 | HDB | Hdfc Bank Ltd-adr | 0% | +21.86% | Add |
| 43 | DNLI | Denali Therapeutics Inc | 0% | — | Unchanged |
| 44 | VNET | Vnet Group Inc-adr | 0% | +143.81% | Add |
| 45 | YSS | York Space Systems Inc | 0% | +128.39% | Add |
| 46 | AMD | Advanced Micro Devices | 0% | NEW | New buy |
| 47 | FORM | Formfactor Inc | 0% | NEW | New buy |
| 48 | DSGX | Descartes Systems Grp/the | 0% | +37.36% | Add |
| 49 | MMYT | MakeMyTrip Limited | 0% | — | Unchanged |
| 50 | PANW | Palo Alto Networks Inc | 0% | -35.89% | Trim |
1–50 of 190
Filing History
FAQ
What is Temasek Holdings and what type of investor is it?
Temasek Holdings is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $37.3B, spread across 196 disclosed positions.
What are Temasek Holdings's largest equity positions?
Based on the latest 13F filing, Temasek Holdings's top holdings by market value are:
1. Blackrock Inc (BLK) — $5.0B (13.4%)
2. Alphabet Inc-cl A (GOOGL) — $2.5B (6.8%)
3. Visa Inc-class A Shares (V) — $2.3B (6.1%)
4. Nvidia CORP (NVDA) — $1.7B (4.6%)
5. — $1.7B (4.5%)
What changes did Temasek Holdings make in its most recent portfolio filing?
In the latest reported quarter, Temasek Holdings made 159 notable position adjustments: 58 new positions were initiated, 43 existing holdings were added to, 45 positions were partially reduced, and 13 were completely exited. The largest of these moves: New buy: ; New buy: Alphabet Inc-cl C (GOOG); New buy: ASML Holding N.V. (ASML); Sold out: Salesforce Inc (CRM); New buy: Credo Technology Group Holding Ltd (CRDO)
What sectors does Temasek Holdings focus on?
Temasek Holdings is concentrated in the following sectors based on its current disclosed equity portfolio:
• Financials: 38.4%
• Information Technology: 21.2%
• Communication Services: 14.6%
• Consumer Discretionary: 9.8%
• Industrials: 7.1%
• Health Care: 5.7%
* This report is exclusively curated by the AlphaSMO team. AlphaSMO is the web's most authoritative 13F / Inside Trader database, delivering precise insider trading and institutional holdings insights.
Investment Profile
Temasek Holdings returned an annualized 15.4% over the trailing 36 months — underperforming the S&P 500 by 3.5 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.95 (roughly in line with the market) and a 47% quarterly batting average against the index.
Its portfolio is broadly diversified and moderately active, with 38.4% of the portfolio concentrated in Financials.
Its turnover score has risen from 0 to 31 over the past 4 quarters — a shift toward more active trading.
It has added to its AVGO position over the past two quarters (+$549.1M, now $1.4B), while trimming BLK over the same stretch (-$455.6M, still holding $5.0B).
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Developer Access
Access Temasek Holdings's institutional profile programmatically:
REST API
curl https://alphasmo.com/api/v1/institutions/temasek-holdings-private-ltdCLI
npx alphasmo institutions get temasek-holdings-private-ltd