You may have heard the name Sandiaga Uno, not just as a prominent political figure but also as a significant investor shaping Indonesia’s industrial landscape. For those interested in tracking his strategic financial maneuvers, exploring his stock portfolio offers valuable insights into his investment philosophy and the companies he champions.
This portfolio uniquely illustrates how corporate structures can be leveraged for sustained, long-term investment and to establish influential control across diverse industrial sectors. Let’s delve into the key companies that comprise Sandiaga Uno’s extensive investment holdings.
1. PT Saratoga Investama Sedaya Tbk (SRTG)
At the heart of Sandiaga Uno’s investment strategy is Saratoga Investama Sedaya (stock code SRTG). This pivotal company operates as a dynamic investment firm, actively acquiring shares in a wide array of startups, as well as publicly and privately listed entities. Having undergone an Initial Public Offering (IPO) on the Indonesia Stock Exchange (BEI), SRTG’s shares serve as the primary vehicle for Sandiaga Uno’s expansive portfolio.
Current data indicates that SRTG has approximately 2,712,967,000 outstanding shares. Sandiaga Uno himself reportedly holds a significant stake of around 21.51 percent in SRTG, both directly and indirectly. From a performance perspective, in the first half of 2025, SRTG impressively recorded a net profit of Rp 102.01 billion, a stark turnaround from a loss of Rp 446.39 billion during the same period in the previous year. The company’s Net Asset Value (NAV) stands strong at Rp 53.99 trillion. Furthermore, SRTG has declared a cash dividend distribution of Rp 200 billion for the 2024 financial year.
2. PT Mitrapinasthika Mustika Tbk (MPMX)
MPMX is another integral component of Sandiaga Uno’s portfolio, held through Saratoga. This company is a significant player in the automotive sector, specializing in the distribution of motorcycles and their spare parts, with a strong presence in East Java and East Nusa Tenggara. Saratoga’s commitment to MPMX is evident in its substantial 56.69 percent ownership, translating to approximately 2,530,083,541 shares. Additionally, PT Persada Capital Investama holds 5 percent, while 32.98 percent of PT Mitra Pinasthika Mustika’s shares are held by the public.
For investors with an eye on the automotive industry, MPMX presents an intriguing option. However, it is always advisable to conduct thorough due diligence by cross-referencing information with official BEI sources or the company’s financial reports to solidify any investment decisions.
3. PT Merdeka Copper Gold Tbk (MDKA)
The mining sector also forms a strategic part of Sandiaga Uno’s diversified investment portfolio, notably through Merdeka Copper Gold (MDKA). This company is actively engaged in the exploration and production of gold, silver, and copper. In December 2024, SRTG further solidified its position in MDKA, increasing its ownership stake to approximately 19.18 percent.
Given the inherent sensitivity of the mining sector to global commodity prices, the performance of Sandiaga Uno’s shares in MDKA can be significantly influenced by fluctuations in metal prices and broader global economic conditions. As an investor or observer keen on Sandiaga Uno’s equity-based portfolio, close attention to these macroeconomic factors is crucial for informed analysis.
4. PT Nusa Raya Cipta Tbk (NRCA)
Venturing into the construction sector, PT Nusa Raya Cipta Tbk (NRCA) handles a diverse range of projects, including commercial buildings, hotels, residential properties, and factories. While Sandiaga Uno may not hold a large direct individual percentage in NRCA, its inclusion via his investment companies underscores the broad diversification of his portfolio, extending beyond just one or two core sectors. As of September 30, 2024, PT Saratoga Investama Sedaya Tbk (SRTG) held approximately 6.97 percent of NRCA’s shares.
NRCA’s performance has seen notable volatility; for instance, on August 21, 2023, its shares were recorded at around Rp 354 per share, only to experience a decline of approximately 1.67 percent on the very same day. For investors seeking to follow Sandiaga Uno’s investment strategy in the construction sector, closely monitoring contract backlogs and the national construction project cycle is paramount.
5. PT Tower Bersama Infrastructure Tbk (TBIG)
This company is dedicated to providing telecommunication towers and related infrastructure for mobile operators across Indonesia. Through SRTG and its affiliates, Sandiaga Uno’s investment reach extends into this vital sector, further demonstrating a widely diversified portfolio. Indirect ownership via affiliated companies in TBIG exceeds 5 percent, reportedly standing at about 9.26 percent, according to Fortune Indonesia. TBIG is a publicly listed issuer on the BEI, and a report from September 2025 highlighted that the market capitalization of SRTG’s portfolio, including TBIG, reached approximately Rp 43.15 trillion.
Regarding its 2025 performance, news reports indicate that TBIG sold 350 million treasury shares in October 2025, generating approximately Rp 749 billion, signifying significant corporate activity. Given that the tower business is intricately linked to advancements in cellular technology, 5G deployment, and government regulations, investors tracking Sandiaga Uno’s stake in TBIG must continuously monitor external factors such as spectrum regulations, operator investments, and the realization of build-to-suit tower projects.
Reviewing all the aforementioned exposures, it becomes clear that SRTG serves as the most transparent and data-rich flagship for evaluating Sandiaga Uno’s investment portfolio. Naturally, for any personal investment decisions, it remains crucial to thoroughly assess associated risks, including liquidity, business sustainability, and prevailing macroeconomic conditions. We hope this information proves valuable in guiding your stock investment choices.
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Summary
Sandiaga Uno is a prominent investor whose portfolio showcases a strategy of long-term investment and influential control across diverse industrial sectors. Central to his holdings is PT Saratoga Investama Sedaya Tbk (SRTG), an investment firm in which he holds approximately 21.51% directly and indirectly. SRTG acts as the primary vehicle for his extensive portfolio, actively acquiring shares in various entities.
Through Saratoga, Uno’s investments diversify into key sectors including automotive with PT Mitrapinasthika Mustika Tbk (MPMX), mining via PT Merdeka Copper Gold Tbk (MDKA), construction through PT Nusa Raya Cipta Tbk (NRCA), and telecommunications infrastructure with PT Tower Bersama Infrastructure Tbk (TBIG). This broad diversification across different industries is a hallmark of his investment approach.