CIK: 0001926253
Total reported value
$1.1B
Reporting period: 2025-12-31 · Number of holdings: 77
KEYSTONE INVESTORS PTE LTD disclosed 77 holdings in its latest 13F filing for the period ending 2025-12-31, with total reported value of $1.1B and a quarterly turnover rate of 98.5%.
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Keystone Investors Pte LTD's disclosed holdings carry a Herfindahl concentration index of 0.052 — mathematically equivalent to about 19 equally-sized positions, well below its 77 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 1.74), 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.
Sector classification currently covers about 56% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Trim SE
+12.9% -$20.2M
Add GOOG
+29.7% $60.5M
Trim TSLA
-45.4% -$17.8M
Trim ATI
-87.2% -$17.4M
Add IQV
+68.2% $27.7M
Trim MIR
-64.8% -$13.2M
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 13.53% | +3.11% | +29.71% | |
| 2 | NVDA | Nvidia CORP | Stock-Tech | 9.06% | +1.48% | +53.94% | |
| 3 | SE | Sea Ltd-adr | Stock-Comm Services | 7.52% | -4.49% | +12.92% | |
| 4 | AMZN | Amazon.com INC | Stock-Consumer Disc | 6.70% | +6.70% | NEW | |
| 5 | GDX | Vaneck Gold Miners ETF | ETF-Commodities | 5.16% | +5.16% | NEW | |
| 6 | IQV | Iqvia Holdings INC | Stock-Healthcare | 4.98% | +1.77% | +68.18% | |
| 7 | MSFT | Microsoft CORP | Stock-Tech | 4.13% | +0.35% | +50.94% | |
| 8 | LITE | Lumentum Holdings INC | Stock-Tech | 3.65% | +0.71% | -29.51% | |
| 9 | COHR | Coherent CORP | Stock-Tech | 3.43% | +1.14% | +12.58% | |
| 10 | WDC | Western Digital CORP | Stock-Tech | 3.05% | — | -31.28% | |
| 11 | AGX | Argan INC | Stock-Industrials | 2.57% | +2.57% | NEW | |
| 12 | GILD | Gilead Sciences INC | Stock-Healthcare | 2.29% | +2.29% | NEW | |
| 13 | TSLA | Tesla INC | Stock-Consumer Disc | 1.97% | -2.61% | -45.39% | |
| 14 | ULTA | Ulta Beauty INC | Stock-Consumer Disc | 1.95% | +1.19% | +196.89% | |
| 15 | BIDU | Baidu INC - Spon Adr | Stock-Comm Services | 1.94% | +1.94% | NEW | |
| 16 | STX | Seagate Technology Holdings plc | Stock-Tech | 1.73% | +0.36% | +39.21% | |
| 17 | MU | Micron Technology INC | Stock-Tech | 1.55% | +1.55% | NEW | |
| 18 | CRDO | Credo Technology Group Holding Ltd | Stock-Tech | 1.48% | +1.48% | NEW | |
| 19 | FLS | Flowserve CORP | Stock-Industrials | 1.47% | +1.45% | +6114.87% | |
| 20 | CCJ | Cameco CORP | Stock-Energy | 1.30% | — | +5.51% | |
| 21 | URI | United Rentals INC | Stock-Industrials | 1.19% | +1.16% | +6354.15% | |
| 22 | XBI | Ss Spdr S&p Biotech ETF | ETF-Tech | 1.08% | +1.08% | NEW | |
| 23 | HTHT | H World Group Ltd-adr | Stock-Other | 0.95% | +0.95% | NEW | |
| 24 | RDDT | Reddit Inc-cl A | Stock-Comm Services | 0.93% | +0.93% | NEW | |
| 25 | LLY | Eli Lilly & Co | Stock-Healthcare | 0.92% | +0.46% | +83.85% | |
| 26 | PONY | Pony Ai INC | Stock-Other | 0.87% | — | +202.00% | |
| 27 | MCD | Mcdonald's CORP | Stock-Consumer Disc | 0.86% | +0.86% | NEW | |
| 28 | PWR | Quanta Services INC | Stock-Industrials | 0.85% | +0.85% | NEW | |
| 29 | CTSH | Cognizant Tech Solutions-a | Stock-Tech | 0.83% | +0.83% | NEW | |
| 30 | SNOW | Snowflake INC | Stock-Tech | 0.82% | — | +84.98% | |
| 31 | WRD | Weride Inc-adr | Stock-Other | 0.76% | — | +16.32% | |
| 32 | TPR | Tapestry INC | Stock-Consumer Disc | 0.72% | — | +17.45% | |
| 33 | NU | Nu Holdings Ltd. | Stock-Financials | 0.69% | — | +64.00% | |
| 34 | MIR | Mirion Technologies INC | Stock-Industrials | 0.65% | -1.72% | -64.85% | |
| 35 | SNDK | Sandisk CORP | Stock-Tech | 0.59% | +0.59% | NEW | |
| 36 | MMYT | MakeMyTrip Limited | Stock-Other | 0.57% | +0.57% | NEW | |
| 37 | PANW | Palo Alto Networks INC | Stock-Tech | 0.56% | — | +48.40% | |
| 38 | ICLR | ICON Public Limited Company | Stock-Healthcare | 0.55% | — | — | |
| 39 | APH | Amphenol Corp-cl A | Stock-Tech | 0.52% | +0.52% | NEW | |
| 40 | ROST | Ross Stores INC | Stock-Consumer Disc | 0.51% | +0.51% | NEW | |
| 41 | SPGI | S&p Global INC | Stock-Financials | 0.48% | +0.48% | NEW | |
| 42 | H | Hyatt Hotels CORP - Cl A | Stock-Consumer Disc | 0.46% | +0.46% | NEW | |
| 43 | WMB | Williams Cos INC | Stock-Energy | 0.43% | — | +4.87% | |
| 44 | ARWR | Arrowhead Pharmaceuticals In | Stock-Healthcare | 0.35% | — | — | |
| 45 | ATI | Ati INC | Stock-Industrials | 0.34% | -2.12% | -87.21% | |
| 46 | ALNY | Alnylam Pharmaceuticals INC | Stock-Healthcare | 0.32% | — | — | |
| 47 | BWXT | Bwx Technologies INC | Stock-Industrials | 0.27% | — | — | |
| 48 | CRS | Carpenter Technology | Stock-Industrials | 0.25% | -0.73% | -73.95% | |
| 49 | PTGX | Protagonist Therapeutics INC | Stock-Other | 0.21% | — | — | |
| 50 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 0.18% | — | +121.26% |
Performance for Q3 2026
-2.3%
Performance Last 4 Quarters
+36.1%
Based on 68% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2025-12-31 | 77 | $1.1B | 99 | |
| 2025-09-30 | 68 | $865.1M | 100 | |
| 2025-06-30 | 48 | $484.5M | 0 | |
| 2025-03-31 | 51 | $711.7M | 0 | |
| 2024-12-31 | 77 | $1.4B | 0 | |
| 2024-09-30 | 67 | $1.4B | 0 | |
| 2024-06-30 | 61 | $1.2B | 0 | |
| 2024-03-31 | 73 | $1.2B | 0 | |
| 2023-12-31 | 49 | $1.2B | 0 | |
| 2023-09-30 | 38 | $840.5M | 0 | |
| 2023-06-30 | 36 | $576.4M | 0 | |
| 2023-03-31 | 37 | $499.7M | 0 | |
| 2022-12-31 | 37 | $209.1M | 0 |
Keystone Investors Pte LTD's most significant position changes for 2025-12-31: New buy: Amazon.com INC (AMZN); New buy: Vaneck Gold Miners ETF (GDX); Sold out: Tencent Music Entertainm-adr (TME); Sold out: Alibaba Group Holding-sp Adr (BABA); Sold out: Broadcom INC (AVGO).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | GOOG | Alphabet Inc-cl C | +3.1% | +29.71% | Add |
| 2 | IQV | Iqvia Holdings INC | +1.8% | +68.18% | Add |
| 3 | NVDA | Nvidia CORP | +1.5% | +53.94% | Add |
| 4 | FLS | Flowserve CORP | +1.5% | +6114.87% | Add |
| 5 | ULTA | Ulta Beauty INC | +1.2% | +196.89% | Add |
| 6 | URI | United Rentals INC | +1.2% | +6354.15% | Add |
| 7 | COHR | Coherent CORP | +1.1% | +12.58% | Add |
| 8 | LITE | Lumentum Holdings INC | +0.7% | -29.51% | Trim |
| 9 | LLY | Eli Lilly & Co | +0.5% | +83.85% | Add |
| 10 | STX | Seagate Technology Holdings plc | +0.4% | +39.21% | Add |
| 11 | MSFT | Microsoft CORP | +0.4% | +50.94% | Add |
| 12 | RIOT | Riot Platforms INC | -0.7% | -82.23% | Trim |
| 13 | CRS | Carpenter Technology | -0.7% | -73.95% | Trim |
| 14 | ORCL | Oracle CORP | -0.9% | -77.00% | Trim |
| 15 | TEAM | Atlassian Corp-cl A | -1% | -88.58% | Trim |
| 16 | MIR | Mirion Technologies INC | -1.7% | -64.85% | Trim |
| 17 | ATI | Ati INC | -2.1% | -87.21% | Trim |
| 18 | TSLA | Tesla INC | -2.6% | -45.39% | Trim |
| 19 | SE | Sea Ltd-adr | -4.5% | +12.92% | Add |
| 20 | AMZN | Amazon.com INC | — | NEW | New buy |
| 21 | GDX | Vaneck Gold Miners ETF | — | NEW | New buy |
| 22 | TME | Tencent Music Entertainm-adr | — | EXIT | Sold out |
| 23 | BABA | Alibaba Group Holding-sp Adr | — | EXIT | Sold out |
| 24 | AVGO | Broadcom INC | — | EXIT | Sold out |
| 25 | AGX | Argan INC | — | NEW | New buy |
| 26 | META | Meta Platforms Inc-class A | — | EXIT | Sold out |
| 27 | GILD | Gilead Sciences INC | — | NEW | New buy |
| 28 | BIDU | Baidu INC - Spon Adr | — | NEW | New buy |
| 29 | YMM | Full Truck Alliance -spn Adr | — | EXIT | Sold out |
| 30 | VRT | Vertiv Holdings Co-a | — | EXIT | Sold out |
| 31 | MU | Micron Technology INC | — | NEW | New buy |
| 32 | CRDO | Credo Technology Group Holding Ltd | — | NEW | New buy |
| 33 | XBI | Ss Spdr S&p Biotech ETF | — | NEW | New buy |
| 34 | SNPS | Synopsys INC | — | EXIT | Sold out |
| 35 | HTHT | H World Group Ltd-adr | — | NEW | New buy |
| 36 | RDDT | Reddit Inc-cl A | — | NEW | New buy |
| 37 | MCD | Mcdonald's CORP | — | NEW | New buy |
| 38 | PWR | Quanta Services INC | — | NEW | New buy |
| 39 | CTSH | Cognizant Tech Solutions-a | — | NEW | New buy |
| 40 | ✓ | Bitdeer Technologies Group | — | EXIT | Sold out |
| 41 | SNDK | Sandisk CORP | — | NEW | New buy |
| 42 | MMYT | MakeMyTrip Limited | — | NEW | New buy |
| 43 | SFM | Sprouts Farmers Market INC | — | EXIT | Sold out |
| 44 | SAP | Sap Se-sponsored Adr | — | EXIT | Sold out |
| 45 | APH | Amphenol Corp-cl A | — | NEW | New buy |
| 46 | ROST | Ross Stores INC | — | NEW | New buy |
| 47 | ✓ | On Hldg AG | — | EXIT | Sold out |
| 48 | SPGI | S&p Global INC | — | NEW | New buy |
| 49 | H | Hyatt Hotels CORP - Cl A | — | NEW | New buy |
| 50 | ZEPP | Zepp Health Corp-adr | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2025-12-31 | 2026-02-13 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-12 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-11 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-12 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-12 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-13 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-13 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-10 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-08 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-13 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-10 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-12 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-05-17 | Amendment | View on EDGAR |
| 2022-12-31 | 2023-02-09 | 13F-HR | View on EDGAR |
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