Khazanah Nasional Berhad, the sovereign wealth fund of Malaysia, has filed its Form 13F-HR with the U.S. Securities and Exchange Commission, disclosing its equity portfolio as of September 30, 2025. The report, signed by Chief Investment Officer N. Mohamad Hishammudin bin Hamdan, lists 14 separate holdings in the filing.
The largest position disclosed in the portfolio is a holding of 6,400,005 shares in the iShares Trust Core S&P 500 ETF. This is followed by a position of 4,977,739 shares in the SPDR Series Trust Portfolio S&P 500. The fund also holds 2,729,606 shares in the iShares Trust Core MSCI Europe ETF.
Significant exposure to Asian markets is evident in the filing, with the fund holding 1,809,900 shares in the iShares Trust MSCI China ETF, 1,103,540 shares in the iShares Trust MSCI Indonesia ETF, and 2,784,49 shares in the iShares Inc MSCI Thailand ETF. Additionally, the fund holds 2,312,17 shares in the iShares Inc MSCI Singapore ETF.
The filing also includes specific equity positions in U.S. companies. Khazanah holds 274,00 shares in PDD Holdings Inc. Sponsored ADS and 648,905 shares in Rapid Micro Biosystems Inc. Class A Common Stock. The remaining positions in the portfolio include shares in the BNY Mellon ETF Trust US Large Cap Core, Franklin Templeton ETF Trust Franklin India, iShares Inc MSCI Philippines ETF, and KraneShares Trust CSI China Internet.
