Temasek Spent Billions on US Tech Stocks Before July Selloff
- Singapore investor added Microsoft, Apple in second quarter
- Tech sector in the US saw losses during the month of July
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Singaporean state-owned investor Temasek Holdings Pte spent billions of dollars in the second quarter buying shares in US technology giants, just before the sector dropped in July.
Temasek increased the value of its holdings in 11 big tech firms by $3.3 billion in the three months ended June 30, according to an analysis of its two most recent 13F filings. The vast bulk of the increase — some $3.2 billion — went into six of those firms: Microsoft Corp., Apple Inc., Nvidia Corp., Alphabet Inc., Meta Platforms Inc. and Amazon.com Inc.