Temasek reduced stake in Alibaba in Q3, filing shows

SINGAPORE (BLOOMBERG) - Temasek Holdings pared its holding in China's biggest online retailer, Alibaba Group Holding, in the third quarter, while buying shares in Internet travel agency Ctrip.com International, biopharmaceutical company AC Immune and Dell Technologies.

The investor sold 14.5 million American depositary receipts in Alibaba, leaving it with 39.6 million at the end of September, worth US$4.2 billion (S$5.9 billion), according to a filing with the US Securities and Exchange Commission on Monday.

Temasek had added 6.5 million ADRs in the company in the June quarter, according to an earlier filing. Temasek was one of the early investors in Alibaba, the online giant run by Jack Ma. Money managers who oversee more than US$100 million (S$141 billion) in equities must file a Form 13F with the SEC within 45 days of the end of each quarter to show their US-listed stocks, options and convertible bonds.

The filings don't disclose non-US securities or how much cash the firms hold. In the third quarter, Temasek bought 1.6 million shares in Dell, 1.3 million shares in AC Immune, and 350,159 shares in Ctrip, according to the filing. It also bought 408,543 ADRs in Royal Dutch Shell.

Alibaba gained 33 per cent in the three months through September. Temasek in July reported the first decline in its portfolio in seven years after holdings were battered by last year's market rout. The value of assets fell 9 percent to S$242 billion in the fiscal year ended March 31, according to the firm's annual review.