Khazanah Nasional Berhad Portfolio holdings
Khazanah Nasional is Malaysia's sovereign wealth fund, set up as a company in 1993 and owned almost entirely by the Minister of Finance Incorporated. It began operations in 1994 as a custodian of the government's business holdings while investing in strategic and high-technology sectors, and in 2004 it took a more active approach to investing. The fund was modelled on Singapore's Temasek Holdings, and like Temasek it has its own board and a professional management team. In 2024 Khazanah completed its purchase of two state-owned venture capital funds, Malaysia Capital Venture Management and Penjana Kapital. Since a 2018 refresh of its purpose, Khazanah has aimed to grow Malaysia's long-term wealth while also contributing to the country's economic development.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Franklin FTSE India ETF
FLIN
|
+$6.78M |
| 2 |
Pinduoduo
PDD
|
+$1.14M |
| 3 |
Union Pacific
UNP
|
+$405K |
| 4 |
Walt Disney
DIS
|
+$344K |
| 5 |
Marvell Technology
MRVL
|
+$341K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
KraneShares CSI China Internet ETF
KWEB
|
+$7.68M |
| 2 |
Vanguard S&P 500 ETF
VOO
|
+$1.94M |
| 3 |
Alphabet (Google) Class C
GOOG
|
+$576K |
| 4 |
Alphabet (Google) Class A
GOOGL
|
+$545K |
| 5 |
NVIDIA
NVDA
|
+$419K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 93.32% |
| 2 | Technology | 2.75% |
| 3 | Consumer Discretionary | 0.84% |
| 4 | Communication Services | 0.81% |
| 5 | Financials | 0.71% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
iShares Core S&P 500 ETF
IVV
$888B
| $479M | 27.56% |
640,005
| – | – |
2022 Q1
17 quarters
|
|
2
State Street SPDR Portfolio S&P 500 ETF
SPYM
$185B
| $437M | 25.16% |
4,977,739
| – | – |
2024 Q1
9 quarters
|
|
|
3
Vanguard S&P 500 ETF
VOO
$1.05T
| $376M | 21.61% |
547,145
-2,917
| -0.5% | -$1.94M |
2022 Q4
14 quarters
|
|
4
iShares Core MSCI Europe ETF
IEUR
$9.48B
| $205M | 11.8% |
2,729,606
| – | – |
2022 Q1
17 quarters
|
|
5
iShares MSCI Singapore ETF
EWS
$1.09B
| $58.3M | 3.35% |
1,969,404
| – | – |
2024 Q4
6 quarters
|
|
6
iShares MSCI Thailand ETF
THD
$406M
| $20.1M | 1.16% |
278,449
| – | – |
2025 Q1
5 quarters
|
|
|
7
Franklin FTSE India ETF
FLIN
$2.5B
| $17.4M | 1% |
489,204
+194,204
| +66% | +$6.78M |
2024 Q4
6 quarters
|
|
8
iShares MSCI Indonesia ETF
EIDO
$390M
| $12.5M | 0.72% |
1,103,540
| – | – |
2025 Q1
5 quarters
|
|
9
BNY Mellon US Large Cap Core Equity ETF
BKLC
$6.92B
| $11M | 0.64% |
231,000
| – | – |
2025 Q1
5 quarters
|
|
|
10
NVIDIA
NVDA
$5.2T
| $9.8M | 0.56% |
48,892
-2,038
| -4% | -$419K |
2025 Q4
2 quarters
|
|
11
Apple
AAPL
$5.02T
| $8.98M | 0.52% |
31,026
+332
| +1% | +$95K |
2025 Q4
2 quarters
|
|
12
iShares MSCI Philippines ETF
EPHE
$140M
| $5.59M | 0.32% |
231,217
| – | – |
2025 Q1
5 quarters
|
|
13
Microsoft
MSFT
$3.94T
| $5.5M | 0.32% |
14,738
-32
| -0.2% | -$12.9K |
2025 Q4
2 quarters
|
|
14
Amazon
AMZN
$2.75T
| $4.88M | 0.28% |
20,461
+551
| +3% | +$138K |
2025 Q4
2 quarters
|
|
|
15
Alphabet (Google) Class A
GOOGL
$3.97T
| $4.68M | 0.27% |
13,082
-1,515
| -10% | -$545K |
2025 Q4
2 quarters
|
|
|
16
Pinduoduo
PDD
$110B
| $3.68M | 0.21% |
48,200
+12,300
| +34% | +$1.14M |
2022 Q3
15 quarters
|
|
17
Broadcom
AVGO
$1.68T
| $3.57M | 0.21% |
9,455
+153
| +2% | +$61.3K |
2025 Q4
2 quarters
|
|
18
Micron Technology
MU
$1.11T
| $2.73M | 0.16% |
2,368
-177
| -7% | -$133K |
2025 Q4
2 quarters
|
|
19
Meta Platforms (Facebook)
META
$1.59T
| $2.63M | 0.15% |
4,671
+140
| +3% | +$85.6K |
2025 Q4
2 quarters
|
|
20
Tesla
TSLA
$1.6T
| $2.5M | 0.14% |
5,936
+68
| +1% | +$27K |
2025 Q4
2 quarters
|
|
21
Eli Lilly
LLY
$1.15T
| $2.47M | 0.14% |
2,057
+41
| +2% | +$41.9K |
2025 Q4
2 quarters
|
|
22
Advanced Micro Devices
AMD
$944B
| $2.04M | 0.12% |
3,519
+252
| +8% | +$103K |
2025 Q4
2 quarters
|
|
23
Tencent Music
TME
$13.6B
| $1.9M | 0.11% |
227,600
+25,600
| +13% | +$234K |
2025 Q4
2 quarters
|
|
24
JPMorgan Chase
JPM
$901B
| $1.85M | 0.11% |
5,659
+9
| +0.2% | +$2.8K |
2025 Q4
2 quarters
|
|
|
25
Alphabet (Google) Class C
GOOG
$3.94T
| $1.79M | 0.1% |
5,054
-1,611
| -24% | -$576K |
2025 Q4
2 quarters
|
|
Similar funds
Khazanah Nasional Berhad's Q2 2026 Portfolio in Review
As of Q2 2026, Khazanah Nasional Berhad held 165 positions worth $1.74B, up 13% from $1.54B the previous quarter. Its ten largest holdings account for 94% of the portfolio.
Khazanah Nasional Berhad's Q2 2026 filing shows 23 new, 56 increased, 57 reduced and 16 closed positions. Its largest new stake was Union Pacific: 1,541 shares worth $419K. The largest sale was KraneShares CSI China Internet ETF, an estimated $7.68M.
By sector, the portfolio is most concentrated in Miscellaneous at 93% of assets, down from 94% a quarter earlier, followed by Technology and Consumer Discretionary.
- Khazanah Nasional Berhad's largest Q2 2026 buy was Union Pacific: 1,541 shares worth $419K.
- Khazanah Nasional Berhad added most to Franklin FTSE India ETF in Q2 2026, an estimated $6.78M increase.
- Khazanah Nasional Berhad's biggest Q2 2026 reduction was Vanguard S&P 500 ETF, cutting an estimated $1.94M.
- Khazanah Nasional Berhad fully exited KraneShares CSI China Internet ETF in Q2 2026, selling an estimated $7.68M.
- Khazanah Nasional Berhad's ten largest holdings make up 94% of its $1.74B portfolio in Q2 2026.
- Khazanah Nasional Berhad opened 23 new positions and closed 16 in Q2 2026.
- Khazanah Nasional Berhad's portfolio value rose 13% quarter-over-quarter to $1.74B.
Based on Khazanah Nasional Berhad's 13F filing for Q2 2026, filed 20 Oct 2026.