Saudi PIF Held Nearly $56 Billion of U.S.-Listed Stocks in December 2021

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Saudi PIF Held Nearly $56 Billion of U.S.-Listed Stocks in December 2021

Reuters2022-02-15

Saudi sovereign wealth fund PIF held nearly $56 billion worth of U.S.-listed stocks as of December last year, up from $43.4 billion at the end of September, boosted by the increased value of electric ...

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The Public Investment Fund (PIF), which currently holds a nearly 62% stake in Lucid, had invested more than $1 billion in the company in 2018 for a substantial stake and increased its investment in February 2021.Shares of Lucid have fallen 28% so far this year.The PIF also owns a 3.75% stake in ride-sharing company Uber Technologies.The sovereign wealth fund sharply cut its stake in Prologis, while substantially increasing its stake in Farfetch, a technology platform in the fashion industry, to 3.3 million class A shares.It also raised its stake in Pinterest.PIF, which manages about $480 billion in assets, is at the centre of Saudi Arabia's Vision 2030, a national strategy aimed at diversifying the kingdom's economy and cutting reliance on hydrocarbons.On Sunday the government said Crown Prince Mohammed bin Salman had transferred 4% of Saudi Aramco shares worth $80 billion to the kingdom’s sovereign wealth fund.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":48,"commentSize":1,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}