Temasek Holdings 13F: Q2 2026 Portfolio — $37.25B Across 196 Positions

Temasek Holdings’ Q2 2026 activity shows a clear pivot toward Alphabet and the broader tech/platform complex. Alphabet is the standout move: Alphabet was added and is now the second-largest holding at 6.79% of the portfolio, with its share count up 50.5% on the quarter. A second Alphabet share class, Alphabet, also appears as a new position, reinforcing the theme that the manager leaned further into the group rather than spreading incremental capital elsewhere.

This does not come without trimming. The largest holding, Blackrock, was trimmed to 13.41% (share count down 2.5%), while other sizable trims included Visa at 6.08% (down 1.1%), Nvidia at 4.51% (down 5.6%), and Microsoft at 2.65% (down 0.9%). The top-10 weight sits at 51.4%, and the quarter’s mix—67 new positions versus 22 exits—suggests a balance between adding breadth and keeping the portfolio concentrated around a few high-conviction names. New exposure also included Space Exploration Techn and additional adds across payments and cloud-adjacent beneficiaries such as Mastercard Incorporated, Broadcom, and Amazon.

A Form 13F is a quarterly snapshot institutional managers with over $100M in US-listed assets must file within 45 days of quarter end. It shows long equity positions only: no short book, no cash, no non-US listings, no timing inside the quarter. Treat it as a delayed map of where the manager's conviction sat on the reporting date — not a live portfolio, and not a buy list.