Temasek Cut Stake in Alibaba in Third Quarter, Filing Shows

(Bloomberg) -- Temasek Holdings Pte pared its investment in Alibaba Group Holding Ltd. in the third quarter, as shares of China’s biggest online retailer rallied, while emerging as a shareholder of software maker Dell Technologies Inc.

The Singapore state-owned firm sold 14.5 million American depositary receipts, leaving it with 39.6 million at the end of September, worth $4.2 billion, according to a filing with the U.S. Securities and Exchange Commission on Monday.  Alibaba gained 33 percent in the three months through September. 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 $100 million in equities must file a Form 13F with the SEC within 45 days of the end of each quarter to show their U.S.-listed stocks, options and convertible bonds. The filings don’t disclose non-U.S. securities or how much cash the firms hold.

Temasek also emerged as a shareholder in Dell Technologies, owning 1.6 million shares valued at $75 million as of September, the filing shows. The securities are so-called tracking stocks for software maker VMware Inc, the prize holding of EMC Corp., which Dell Inc. agreed to buy last year. Temasek helped finance the acquisition.

Singapore’s state-owned investment firm also bought 1.3 million shares in biopharmaceutical company AC Immune SA and 350,159 shares in Internet travel agency Ctrip.com International Ltd., according to the filing. It also bought 408,543 ADRs in Royal Dutch Shell Plc.

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 ($171 billion) in the fiscal year ended March 31, according to the firm’s annual review.

To contact the reporter on this story: Klaus Wille in Singapore at kwille@bloomberg.net. To contact the editors responsible for this story: Sree Vidya Bhaktavatsalam at sbhaktavatsa@bloomberg.net, Peter Vercoe, Jake Lloyd-Smith