Singaporean state-owned investor Temasek Holdings Pte made significant investments in US technology giants in the second quarter, just before the sector experienced a decline in July. According to an analysis of its two most recent 13F filings, Temasek increased the value of its holdings in 11 major tech companies by $3.3 billion in the three months ending June 30. The majority of this increase, $3.2 billion, was allocated to six specific firms, namely Microsoft Corp., Apple Inc., Nvidia Corp., Alphabet Inc., Meta Platforms Inc., and Amazon.com Inc.
Following the end of June, these companies witnessed a decrease in their stock prices due to concerns about AI-related gains and recession fears. Alphabet and Amazon saw their share prices drop by approximately 12%, while Microsoft’s shares decreased by about 7% during this period. However, some of these tech stocks have begun to recover recently, and it remains uncertain how Temasek has adjusted its investments since June 30. The firm may have benefitted from its initial purchase prices, sold before the decline, or even acquired more shares during the downturn.
With a net portfolio value of S$389 billion ($295 billion) as of March 31, the investments made by Temasek in these tech companies would represent around 1% of its total holdings. This significant buying activity highlights Temasek’s dedication to expanding its presence in the US market. The firm announced plans to invest $30 billion in the US over the next five years, reaffirming its commitment to this strategic investment destination.
This update was provided with assistance from Denise Cochran.
