Saudi Arabia’s Public Investment Fund (PIF) has sold all the shares it held in Meta, Shopify and PayPal in the second quarter of the year, according to its latest 13F filing with the US Securities and Exchange Commission (SEC).
PIF also sold its stakes in Chinese online retail giant Alibaba Group, Brazil’s banking company Nu Holdings, and US logistics company FedEx.
According to Reuters, PIF’s total exposure to US equities, which include call options that give the state investor a right to buy an underlying asset at a specified price within a specific time period, was valued at US$23.8 billion at the end of Q2, versus US$25.5 billion at the end of the first quarter – a decline of US$1.7 billion.
At the end of March, PIF held 667,996 class A shares in Meta, 1.25 million class A shares in Shopify, 1.76 million shares in PayPal, 6.83 million class A shares in Nu Holdings, 1.61 million ADS in Alibaba, and 498,164 common shares in FedEx.
In terms of value, PIF’s most significant holdings are in two mobility and a gaming company – ride-hailing Uber, EV maker Lucid and Electronic Arts.
It held 72.84 million shares in Uber, valued at US$6.8 billion, and 1.77 billion shares in Lucid for a total value of US$3.74 billion. In EA, PIF held 24.8 million shares for a total value of US$3.96 million.
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