Temasek cuts stake in Alibaba in Q4

It sells Alibaba ADRs for 2nd quarter in a row and buys 9.8m shares in Antero Resources

Temasek Holdings pared its investment in Alibaba Group Holding for a second consecutive quarter while emerging as a shareholder of oil and gas producer Antero Resources.

It sold 4.1 million American depository receipts (ADRs) in Alibaba, leaving it with 35.5 million at the end of last December, according to a filing with the US Securities and Exchange Commission (SEC) on Tuesday.

Alibaba is now the second-largest holding in Temasek's US stocks portfolio, comprising 25 per cent.

Temasek, which was one of the early investors in Alibaba, had sold 14.5 million ADRs in the online giant in the third quarter ended September, an earlier filing showed.

The investment company also emerged as a shareholder in Antero Resources, owning 9.8 million shares as of last December.

  • 25% Percentage of Temasek's US portfolio taken up by Alibaba

The firm also bought 1.7 million shares in coatings maker PPG Industries Inc and 12.2 million ADRs of ZTO Express (Cayman) Inc, a Chinese delivery service that gets the bulk of its business from Alibaba.

Temasek also bought 1.5 million shares of Visa Inc in the period.

Money managers who oversee more than US$100 million (S$142.4 million) 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 do not disclose non-US securities or how much cash the firms hold.

Temasek reported the first decline in its portfolio in seven years last July.

The value of assets fell 9 per cent to S$242 billion in the fiscal year ended March 31, according to the firm's annual review.


A version of this article appeared in the print edition of The Straits Times on February 16, 2017, with the headline 'Temasek cuts stake in Alibaba in Q4'. Subscribe