Temasek Q2 Holdings: Heavy Positions in SpaceX and Google, Reduced Holdings in Nvidia and Microsoft

According to Jinse Finance APP, based on disclosures from the U.S. Securities and Exchange Commission (SEC), the Singapore-headquartered international investment firm Temasek has submitted its Q2 holdings report (13F) for the period ending June 30, 2026.

The latest data shows that Temasek's total market value of Q2 holdings was 37.3 billion USD, up 22.3% quarter-on-quarter from 30.5 billion USD in the previous quarter. Temasek added 66 new stocks and increased holdings in 44 stocks during Q2. At the same time, Temasek reduced holdings in 49 stocks and fully sold out 21 stocks. The top ten holdings accounted for 51.42% of total portfolio value.

Among the top ten heavy holdings: BlackRock (BLK.US) ranked first, with approximately 5.195 million shares and a market value of about 5.0 billion USD, representing 13.30% of the portfolio.

Google-A (GOOGL.US) ranked second, with approximately 7.076 million shares and a market value of about 2.53 billion USD, accounting for 6.73% of the portfolio.

Visa (V.US) ranked third, with approximately 6.597 million shares and a market value of about 2.26 billion USD, accounting for 6.03% of the portfolio.

Nvidia (NVDA.US) ranked fourth, with approximately 8.405 million shares and a market value of about 1.68 billion USD, accounting for 4.48% of the portfolio.

SpaceX (SPCX.US) ranked fifth, with approximately 9.832 million shares and a market value of about 1.68 billion USD, accounting for 4.47% of the portfolio.

Mastercard (MA.US), Broadcom (AVGO.US), Amazon (AMZN.US), Microsoft (MSFT.US) and ICICI Bank (IBN.US) ranked sixth to tenth respectively.

In terms of portfolio proportion change, the top five buys were SpaceX (SPCX.US), Google-A (GOOGL.US), Google-C (GOOG.US), ASML (ASML.US), and Sterling (STRL.US).

The top five sells were BlackRock (BLK.US), Pinduoduo (PDD.US), Microsoft (MSFT.US), Nvidia (NVDA.US), and Visa (V.US).

Temasek's biggest move in Q2 was significantly increasing aerospace assets, with SpaceX becoming the stock with the largest increase in portfolio share and jumping into the top five holdings. Additionally, opening positions in semiconductor lithography leader ASML demonstrates its strategic layout in key upstream semiconductor equipment.

Previously, BlackRock was Temasek's largest absolute heavy holding, and while its portfolio proportion dropped the most this quarter, it remains firmly in first place with a high share of 13.30%.

Within the tech giants, Temasek showed a clear “divergent strategy”: it bought large amounts of Alphabet, elevating it to its second-largest holding, while taking moderate profits on Microsoft and Nvidia.