Temasek Holdings (Private) Ltd
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), Temasek Holdings (Private) Ltd reported 129 stock positions worth $25.2 billion. Its top holding was BlackRock (BLK) at 20.7% of the portfolio, followed by Visa Class A (V, 7.5%) and Mastercard Class A (MA, 5.8%). Compared with Q3 2024, it opened 18 new positions, sold out of 10, added to 25 and reduced 59. The biggest buy was a new position in Invesco S&P 500 Equal Weight (RSP) and the biggest sale Alibaba Group Holding-SP ADR (BABA, shares −52%).
- Most Recent 13F
- Q2 2026
- Location
- SINGAPORE, U0
- CIK
- 0001021944
- Portfolio Value
- $25.2B (Q4 2024)
- SEC Filing
- 0001104659-25-013359 ↗ filed Feb 14, 2025
Holdings Value
Holdings 129 stocks · $25.2B
| BLK BlackRock Inc. | 20.69% | 5,092,825 | $5.2B | No change |
| V Visa Inc. Class A | 7.46% | 5,953,782 | $1.9B | Reduce -4.3% |
| MA Mastercard Inc. Class A | 5.78% | 2,771,574 | $1.5B | Reduce -1.2% |
| NVDA Nvidia Corp. | 5.42% | 10,180,421 | $1.4B | Add +9.5% |
| AMZN Amazon.com Inc. | 5.11% | 5,876,329 | $1.3B | Reduce -1.2% |
| INTA Intapp Inc. | 4.36% | 17,146,805 | $1.1B | No change |
| MSFT Microsoft Corp. | 3.60% | 2,154,264 | $908.0M | Reduce -6.3% |
| DASH DoorDash Inc. Class A | 3.24% | 4,866,131 | $816.3M | No change |
| IBN Icici Bank Ltd.-Spon ADR | 3.21% | 27,084,196 | $808.7M | Reduce -3.6% |
| RBLX Roblox Corp. Class A | 2.89% | 12,592,534 | $728.6M | Reduce -8.6% |
| RSP Invesco S&P 500 Equal Weight | 2.86% | 4,113,052 | $720.7M | New |
| GOOGL Alphabet Inc. Class A | 2.82% | 3,763,550 | $712.4M | Reduce -20.2% |
| AVGO Broadcom Inc. | 2.71% | 2,951,931 | $684.4M | Reduce -0.9% |
| TMO Thermo Fisher Scientific Inc. | 2.18% | 1,057,248 | $550.0M | Reduce -1.3% |
| HDB HDFC Bank Ltd.-ADR | 2.17% | 8,557,788 | $546.5M | Add +2.3% |
| SE Sea Ltd.-ADR | 1.53% | 3,648,767 | $387.1M | Reduce -25.2% |
| BABA Alibaba Group Holding-SP ADR | 1.50% | 4,464,559 | $378.5M | Reduce -51.5% |
| SPGI S&P Global Inc. | 1.36% | 690,128 | $343.7M | Reduce -9.2% |
| ABNB Airbnb Inc. Class A | 1.16% | 2,222,194 | $292.0M | Reduce -4.4% |
| ONC Beone Medicines Ltd.-ADR filed as BEIGENE LTD | 1.12% | 1,525,329 | $281.7M | Reduce -36.1% |
| TPG TPG Inc. | 0.99% | 3,981,179 | $250.2M | No change |
| BILL Bill Holdings Inc. | 0.92% | 2,727,304 | $231.0M | Reduce -51.5% |
| BNTX Biontech SE-ADR | 0.82% | 1,807,232 | $205.9M | No change |
| ZTO Zto Express Cayman Inc.-ADR | 0.81% | 10,426,750 | $203.8M | No change |
| MRVL Marvell Technology Inc. | 0.77% | 1,764,058 | $194.8M | Reduce -21.3% |
| META Meta Platforms Inc. Class A | 0.77% | 332,559 | $194.7M | Reduce -41.4% |
| FLYW Flywire Corp.-Voting | 0.71% | 8,684,895 | $179.1M | No change |
| MSCI MSCI Inc. | 0.66% | 277,432 | $166.5M | No change |
| YUMC Yum China Holdings Inc. | 0.65% | 3,406,170 | $164.1M | Add +15.7% |
| JD Jd.com Inc.-ADR | 0.64% | 4,625,490 | $160.4M | Add +18.4% |
| GLBE Global-E Online Ltd. | 0.57% | 2,656,452 | $144.9M | Reduce -23.9% |
| EMXC iShares MSCI Emr MRK Ex Chna | 0.57% | 2,600,600 | $144.2M | No change |
| PAYO Payoneer Global Inc. | 0.55% | 13,748,577 | $138.0M | Reduce -30.9% |
| HTHT H World Group Ltd.-ADR | 0.54% | 4,117,528 | $136.0M | Add +87.2% |
| NOW ServiceNow Inc. | 0.54% | 127,393 | $135.1M | Reduce -39.7% |
| DNLI Denali Therapeutics Inc. | 0.43% | 5,355,832 | $109.2M | No change |
| AAPL Apple Inc. | 0.40% | 405,474 | $101.5M | Reduce -26.0% |
| PDD PDD Holdings Inc. | 0.40% | 1,046,802 | $101.5M | Add +842.5% |
| XLF SS Financial Select Sector | 0.32% | 1,689,020 | $81.6M | New |
| ETWO E2OPEN Parent Holdings Inc. | 0.31% | 29,248,151 | $77.8M | No change |
| ADBE Adobe Inc. | 0.30% | 169,241 | $75.3M | Reduce -8.8% |
| SES Ses AI Corp. | 0.27% | 30,675,757 | $67.2M | No change |
| GEV GE Vernova Inc. | 0.25% | 190,447 | $62.6M | Reduce -23.8% |
| LLY Eli Lilly & Co. | 0.22% | 70,300 | $54.3M | No change |
| HOOD Robinhood Markets Inc. Class A | 0.21% | 1,444,759 | $53.8M | New |
| ETN Eaton Corp. PLC | 0.21% | 160,143 | $53.1M | Add +21.7% |
| QQQ Invesco QQQ Trust Series 1 | 0.21% | 102,925 | $52.6M | No change |
| WMT Walmart Inc. | 0.21% | 581,781 | $52.6M | No change |
| GE General Electric filed as GE AEROSPACE | 0.20% | 302,326 | $50.4M | Add +32.1% |
| LIN Linde PLC | 0.20% | 118,860 | $49.8M | Reduce -33.0% |
| GH Guardant Health Inc. | 0.19% | 1,561,979 | $47.7M | Reduce -25.2% |
| IWM iShares Russell 2000 ETF | 0.18% | 206,500 | $45.6M | No change |
| BEAM Beam Therapeutics Inc. | 0.18% | 1,812,972 | $45.0M | No change |
| TECK Teck Resources Ltd.-CLS B | 0.18% | 1,098,200 | $44.5M | Add +15.0% |
| NTES Netease Inc.-ADR | 0.17% | 469,138 | $41.9M | Reduce -14.8% |
| ORCL Oracle Corp. | 0.17% | 249,939 | $41.6M | Add +137.7% |
| SCHP Schwab U.S. Tips ETF | 0.14% | 1,410,000 | $36.4M | No change |
| BSX Boston Scientific Corp. | 0.14% | 406,494 | $36.3M | New |
| TSLA Tesla Inc. | 0.14% | 89,190 | $36.0M | No change |
| INDA iShares MSCI India ETF | 0.14% | 681,508 | $35.9M | New |
| ESTC Elastic NV | 0.14% | 359,283 | $35.6M | New |
| SCCO Southern Copper Corp. | 0.13% | 364,416 | $33.2M | Add +7.6% |
| SNPS Synopsys Inc. | 0.13% | 67,914 | $33.0M | Reduce -38.4% |
| FCX Freeport-McMoran Inc. | 0.12% | 805,528 | $30.7M | Add +7.5% |
| KWEB Kranesh Csi China Internet | 0.11% | 935,590 | $27.4M | Reduce -66.5% |
| VRT Vertiv Holdings Co. Class A | 0.09% | 210,881 | $24.0M | Reduce -62.9% |
| DELL Dell Technologies -C | 0.09% | 206,637 | $23.8M | Add +10.9% |
| PINS Pinterest Inc. Class A | 0.09% | 818,269 | $23.7M | New |
| DT Dynatrace Inc. | 0.08% | 392,365 | $21.3M | Reduce -54.2% |
| JPM JPMorgan Chase & Co. | 0.08% | 87,431 | $21.0M | No change |
| NFLX Netflix Inc. | 0.08% | 22,782 | $20.3M | Reduce -50.6% |
| NKE Nike Inc. Class B | 0.08% | 263,251 | $19.9M | New |
| MU Micron Technology Inc. | 0.07% | 208,245 | $17.5M | No change |
| AA Alcoa Corp. | 0.07% | 438,819 | $16.6M | Add +25.6% |
| LOW Lowe's Cos Inc. | 0.07% | 66,780 | $16.5M | Reduce -21.9% |
| HBM Hudbay Minerals Inc. | 0.06% | 1,917,271 | $15.5M | Add +6.3% |
| CAT Caterpillar Inc. | 0.06% | 39,447 | $14.3M | Reduce -27.6% |
| TEAM Atlassian Corp. Class A | 0.05% | 48,905 | $11.9M | New |
| EMR Emerson Electric Co. | 0.05% | 94,213 | $11.7M | Add +206.5% |
| CMI Cummins Inc. | 0.04% | 32,010 | $11.2M | Add +212.8% |
| PWR Quanta Services Inc. | 0.04% | 34,095 | $10.8M | Add +210.8% |
| JCI Johnson Controls Internation | 0.04% | 135,988 | $10.7M | Add +216.1% |
| BZ Kanzhun Ltd. - ADR | 0.04% | 771,527 | $10.6M | New |
| HUBB Hubbell Inc. | 0.04% | 24,596 | $10.3M | Add +221.1% |
| NVT Nvent Electric PLC | 0.04% | 150,383 | $10.3M | Add +224.2% |
| TT Trane Technologies PLC | 0.04% | 27,297 | $10.1M | Add +223.7% |
| CARR Carrier Global Corp. | 0.04% | 139,437 | $9.5M | Add +243.3% |
| BKNG Booking Holdings Inc. | 0.04% | 1,800 | $8.9M | Reduce -81.8% |
| ADP Automatic Data Processing | 0.03% | 29,788 | $8.7M | Reduce -81.8% |
| HD Home Depot Inc. | 0.03% | 21,043 | $8.2M | Reduce -81.6% |
| ERO Ero Copper Corp. | 0.03% | 592,821 | $8.0M | Add +9.3% |
| CSCO Cisco Systems Inc. | 0.03% | 127,594 | $7.6M | No change |
| ABBV Abbvie Inc. | 0.03% | 42,473 | $7.5M | Reduce -81.8% |
| COST Costco Wholesale Corp. | 0.03% | 8,202 | $7.5M | Reduce -81.9% |
| UNH Unitedhealth Group Inc. | 0.03% | 14,148 | $7.2M | Reduce -91.3% |
| CMG Chipotle Mexican Grill Inc. | 0.03% | 114,802 | $6.9M | Reduce -82.1% |
| CDNS Cadence Design SYS Inc. | 0.03% | 22,251 | $6.7M | Reduce -81.9% |
| UPS United Parcel Service Class B | 0.03% | 52,248 | $6.6M | Reduce -81.7% |
| RACE Ferrari NV | 0.02% | 14,478 | $6.2M | Reduce -84.5% |
| BE Bloom Energy Corp. Class A | 0.02% | 276,678 | $6.1M | Reduce -10.1% |
Options reported separately and not counted above: MSFT puts ($33.4M), NVDA puts ($26.1M), MRVL puts ($23.0M), AMZN calls ($16.5M), ESTC calls ($13.9M), ADBE puts ($8.7M).
Portfolio Sells Q3 2024 → Q4 2024
| BABA Alibaba Group Holding-SP ADR | Reduce -51.5% | 1.50% | −2.46 |
| ONC Beone Medicines Ltd.-ADR | Reduce -36.1% | 1.12% | −1.06 |
| META Meta Platforms Inc. Class A | Reduce -41.4% | 0.77% | −0.54 |
| TMO Thermo Fisher Scientific Inc. | Reduce -1.3% | 2.18% | −0.50 |
| MSFT Microsoft Corp. | Reduce -6.3% | 3.60% | −0.41 |
| UNH Unitedhealth Group Inc. | Reduce -91.3% | 0.03% | −0.35 |
| GOOGL Alphabet Inc. Class A | Reduce -20.2% | 2.82% | −0.34 |
| SE Sea Ltd.-ADR | Reduce -25.2% | 1.53% | −0.33 |
| BILL Bill Holdings Inc. | Reduce -51.5% | 0.92% | −0.29 |
| KWEB Kranesh Csi China Internet | Reduce -66.5% | 0.11% | −0.28 |
| EWT iShares MSCI Taiwan ETF | Sold out | 0.00% | −0.25 |
| NOW ServiceNow Inc. | Reduce -39.7% | 0.54% | −0.23 |
| SPGI S&P Global Inc. | Reduce -9.2% | 1.36% | −0.23 |
| JPST JPMorgan Ultra-Short Income | Sold out | 0.00% | −0.20 |
| PULS Pgim Ultra Short Bond ETF | Sold out | 0.00% | −0.20 |
| IBN Icici Bank Ltd.-Spon ADR | Reduce -3.6% | 3.21% | −0.19 |
| ABBV Abbvie Inc. | Reduce -81.8% | 0.03% | −0.16 |
| HD Home Depot Inc. | Reduce -81.6% | 0.03% | −0.16 |
| RACE Ferrari NV | Reduce -84.5% | 0.02% | −0.15 |
| ADP Automatic Data Processing | Reduce -81.8% | 0.03% | −0.15 |
| LIN Linde PLC | Reduce -33.0% | 0.20% | −0.15 |
| OS Onestream Inc. | Reduce -88.3% | 0.01% | −0.14 |
| VRT Vertiv Holdings Co. Class A | Reduce -62.9% | 0.09% | −0.13 |
| BKNG Booking Holdings Inc. | Reduce -81.8% | 0.04% | −0.13 |
| COST Costco Wholesale Corp. | Reduce -81.9% | 0.03% | −0.13 |
| UPS United Parcel Service Class B | Reduce -81.7% | 0.03% | −0.13 |
| CMG Chipotle Mexican Grill Inc. | Reduce -82.1% | 0.03% | −0.12 |
| GPN Global Payments Inc. | Sold out | 0.00% | −0.12 |
| AAPL Apple Inc. | Reduce -26.0% | 0.40% | −0.11 |
| CDNS Cadence Design SYS Inc. | Reduce -81.9% | 0.03% | −0.11 |
| CRM Salesforce Inc. | Sold out | 0.00% | −0.11 |
| DT Dynatrace Inc. | Reduce -54.2% | 0.08% | −0.10 |
| EWY iShares MSCI South Korea ETF | Reduce -86.6% | 0.01% | −0.10 |
| SNPS Synopsys Inc. | Reduce -38.4% | 0.13% | −0.10 |
| ADBE Adobe Inc. | Reduce -8.8% | 0.30% | −0.09 |
| PAYO Payoneer Global Inc. | Reduce -30.9% | 0.55% | −0.06 |
| NFLX Netflix Inc. | Reduce -50.6% | 0.08% | −0.05 |
| NTES Netease Inc.-ADR | Reduce -14.8% | 0.17% | −0.04 |
| ABNB Airbnb Inc. Class A | Reduce -4.4% | 1.16% | −0.04 |
| CAT Caterpillar Inc. | Reduce -27.6% | 0.06% | −0.03 |
| LOW Lowe's Cos Inc. | Reduce -21.9% | 0.07% | −0.03 |
| FORGE GLOBAL HOLDINGS INC | Reduce -35.7% | 0.02% | −0.02 |
| AES AES Corp. | Sold out | 0.00% | −0.01 |
| FSLR First Solar Inc. | Reduce -90.3% | 0.00% | −0.01 |
| NEE Nextera Energy Inc. | Reduce -81.5% | 0.00% | −0.01 |
| CEG Constellation Energy | Reduce -78.1% | 0.00% | −0.01 |
| SO The Southern Co. | Reduce -75.3% | 0.00% | −0.01 |
| GEV GE Vernova Inc. | Reduce -23.8% | 0.25% | −0.01 |
| GGR Gogoro Inc. | Sold out | 0.00% | −0.01 |
| GNRC Generac Holdings Inc. | Reduce -58.9% | 0.01% | −0.01 |
Portfolio Buys Q3 2024 → Q4 2024
| RSP Invesco S&P 500 Equal Weight | New | 2.86% | +2.86 |
| NVDA Nvidia Corp. | Add +9.5% | 5.42% | +0.84 |
| PDD PDD Holdings Inc. | Add +842.5% | 0.40% | +0.34 |
| XLF SS Financial Select Sector | New | 0.32% | +0.32 |
| HOOD Robinhood Markets Inc. Class A | New | 0.21% | +0.21 |
| HTHT H World Group Ltd.-ADR | Add +87.2% | 0.54% | +0.21 |
| BSX Boston Scientific Corp. | New | 0.14% | +0.14 |
| INDA iShares MSCI India ETF | New | 0.14% | +0.14 |
| ESTC Elastic NV | New | 0.14% | +0.14 |
| YUMC Yum China Holdings Inc. | Add +15.7% | 0.65% | +0.11 |
| PINS Pinterest Inc. Class A | New | 0.09% | +0.09 |
| ORCL Oracle Corp. | Add +137.7% | 0.17% | +0.09 |
| NKE Nike Inc. Class B | New | 0.08% | +0.08 |
| TEAM Atlassian Corp. Class A | New | 0.05% | +0.05 |
| HDB HDFC Bank Ltd.-ADR | Add +2.3% | 2.17% | +0.05 |
| BZ Kanzhun Ltd. - ADR | New | 0.04% | +0.04 |
| ETN Eaton Corp. PLC | Add +21.7% | 0.21% | +0.03 |
| EMR Emerson Electric Co. | Add +206.5% | 0.05% | +0.03 |
| CMI Cummins Inc. | Add +212.8% | 0.04% | +0.03 |
| PWR Quanta Services Inc. | Add +210.8% | 0.04% | +0.03 |
| JCI Johnson Controls Internation | Add +216.1% | 0.04% | +0.03 |
| HUBB Hubbell Inc. | Add +221.1% | 0.04% | +0.03 |
| NVT Nvent Electric PLC | Add +224.2% | 0.04% | +0.03 |
| TT Trane Technologies PLC | Add +223.7% | 0.04% | +0.03 |
| GE General Electric | Add +32.1% | 0.20% | +0.03 |
| CARR Carrier Global Corp. | Add +243.3% | 0.04% | +0.02 |
| OKLO Oklo Inc. | New | 0.02% | +0.02 |
| PANW Palo Alto Networks Inc. | New | 0.02% | +0.02 |
| PCOR Procore Technologies Inc. | New | 0.01% | +0.01 |
| AA Alcoa Corp. | Add +25.6% | 0.07% | +0.01 |
| DDOG Datadog Inc. Class A | New | 0.01% | +0.01 |
| GTLB Gitlab Inc. Class A | New | 0.01% | +0.01 |
| S Sentinelone Inc. Class A | New | 0.01% | +0.01 |
| DELL Dell Technologies -C | Add +10.9% | 0.09% | +0.00 |
| SNOW Snowflake Inc. | New | 0.00% | +0.00 |
| JD Jd.com Inc.-ADR | Add +18.4% | 0.64% | +0.00 |
| CART Maplebear Inc. | New | 0.00% | +0.00 |
| OPEN Opendoor Technologies Inc. | Add +33.4% | 0.00% | +0.00 |
| HBM Hudbay Minerals Inc. | Add +6.3% | 0.06% | −0.01 |
| ERO Ero Copper Corp. | Add +9.3% | 0.03% | −0.02 |
| TECK Teck Resources Ltd.-CLS B | Add +15.0% | 0.18% | −0.03 |
| SCCO Southern Copper Corp. | Add +7.6% | 0.13% | −0.03 |
| FCX Freeport-McMoran Inc. | Add +7.5% | 0.12% | −0.03 |
Options Activity Q3 2024 → Q4 2024
| MSFT Microsoft Corp. | put | New | 79,300 | $33.4M |
| NVDA Nvidia Corp. | put | New | 194,600 | $26.1M |
| MRVL Marvell Technology Inc. | put | New | 208,100 | $23.0M |
| AMZN Amazon.com Inc. | call | New | 75,200 | $16.5M |
| ESTC Elastic NV | call | New | 140,000 | $13.9M |
| ADBE Adobe Inc. | put | New | 19,600 | $8.7M |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 176 | $36.5B | BLK, GOOGL, V, NVDA, SPCX |
| Q1 2026 | 132 | $29.7B | BLK, V, MA, NVDA, GOOGL |
| Q4 2025 | 129 | $31.0B | BLK, V, NVDA, MA, GOOGL |
| Q3 2025 | 117 | $28.7B | BLK, V, MA, NVDA, RBLX |
| Q2 2025 | 120 | $25.8B | BLK, V, MA, NVDA, RBLX |
| Q1 2025 | 123 | $24.8B | BLK, V, MA, INTA, AMZN |
| Q4 2024 | 129 | $25.2B | BLK, V, MA, NVDA, AMZN |
| Q3 2024 | 121 | $24.7B | BLK, V, MA, NVDA, AMZN |
| Q2 2024Amended | 91 | $21.5B | BLK, V, MA, NVDA, AMZN |
| Q1 2024Amended | 102 | $18.1B | BLK, V, MA, IBN, DASH |