DUBAI: Saudi Arabia’s Public Investment Fund (PIF), valued at nearly $1 trillion, divested its holdings in several major U.S.-listed companies — including Meta, Shopify, and PayPal — during the second quarter, according to securities filings released yesterday.
The filings revealed that PIF also sold its stakes in Alibaba Group, Nu Holdings, and FedEx, marking a complete exit from all six firms. This came during a quarter when U.S. stock markets recovered from an April slump linked to tariff policy concerns.
At the end of March, PIF’s portfolio included 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 Alibaba-sponsored ADS, and 498,164 common shares in FedEx.
By June, its U.S. equity exposure — which also includes call options — was valued at $23.8 billion, down from $25.5 billion at the close of the first quarter.
Charged with driving Saudi Arabia’s economic diversification under Crown Prince Mohammed bin Salman’s Vision 2030, PIF has expanded far beyond domestic equities and infrastructure. It has taken high-profile stakes in global brands such as Uber and Lucid Motors, and invested heavily in sports ventures including LIV Golf and English Premier League club Newcastle United.
Domestically, the fund is channeling billions into flagship projects like NEOM — a futuristic city on the Red Sea — as well as tourism, logistics, and clean energy sectors.
Source: Reuters
