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PIF raises holding of US equities in Q2 2023
Logo of Public Investment Fund
The Public Investment Fund (PIF) raised its holding of US equities from $35.52 billion in Q1 2023 to $38.93 billion in Q2 2023, according to a US Securities and Exchange Commission (SEC) filing.
The Kingdom’s sovereign wealth fund increased its holdings in Lucid Group, Air Products and Alibaba as it bought 265.7 million shares in Lucid in Q2.
According to data available with Argaam, Lucid Group announced last June that PIF, through its subsidiary Ayar Third Investment Co., approved the purchase of an additional 265.7 million shares of the company, worth approximately $1.8 billion, in a private placement of the company's shares.
As a result of the purchase, Ayar Third Investment is expected to maintain its ownership in the company of 60.5%.
Meanwhile, the fund reduced its ownership in Avery Dennison Corp., according to a disclosure on SEC for Q2 2023.
The following table illustrates the fund’s holding of US equities at the end of Q2 2023:
|
Details of PIF Investments in US Market |
|||||
|
Company |
Stake by end of Q1 2023 (‘000 shares) |
Value by end of Q1 2023 ($ mln) |
Stake by end of Q2 2023 (‘000 shares) |
Value by end of Q2 2023 ($ mln) |
Change (‘000 shares) |
|
Lucid Group |
1109006.60 |
8916.41 |
1374700.30 |
9471.69 |
+ 265,693.70 |
|
Activision Blizzard |
37909.16 |
3244.65 |
37909.16 |
3195.74 |
-- |
|
Utilities Select Sector SPDR |
32986.50 |
2232.86 |
32986.50 |
2158.64 |
-- |
|
Electronic Arts |
24807.93 |
2988.12 |
24807.93 |
3217.59 |
-- |
|
Uber |
72840.54 |
2309.05 |
72840.54 |
3144.53 |
-- |
|
Take-Two Interactive |
11414.68 |
1361.77 |
11414.68 |
1679.78 |
-- |
|
Live Nation |
12565.17 |
879.56 |
12565.17 |
1144.81 |
-- |
|
Air Products |
2702.80 |
776.27 |
2748.35 |
823.21 |
+ 45.55 |
|
PayPal |
7497.00 |
569.32 |
7497.00 |
500.27 |
-- |
|
Meta Platforms |
3262.07 |
691.36 |
3262.07 |
936.15 |
-- |
|
Carnival |
50830.93 |
515.93 |
50830.93 |
957.14 |
-- |
|
CUMMINS Inc |
1800.30 |
430.06 |
1800.30 |
441.36 |
-- |
|
Automatic Data Processing |
1481.84 |
329.90 |
1481.84 |
325.69 |
-- |
|
MultiPlan |
51250.00 |
54.33 |
51250.00 |
108.14 |
-- |
|
Fedex Corp. |
1127.43 |
257.61 |
1127.43 |
279.49 |
-- |
|
Visa Inc. |
954.87 |
215.28 |
954.87 |
226.76 |
-- |
|
Avery Dennison Corp. |
848.66 |
151.85 |
655.06 |
112.54 |
(193.60) |
|
Alibaba Group |
1035.68 |
105.83 |
1457.10 |
121.45 |
+ 421.42 |
|
Walmart |
790.24 |
116.52 |
790.24 |
124.21 |
-- |
|
PROLOGIS |
814.72 |
101.65 |
814.72 |
99.91 |
-- |
|
Plug Power |
5670.92 |
66.46 |
5670.92 |
58.92 |
-- |
|
NovaGold |
16137.70 |
100.38 |
16137.70 |
64.39 |
-- |
|
Compute Health Acquisition |
1875.00 |
0.75 |
1875.00 |
0.94 |
-- |
|
Pinterest Inc. |
4052.16 |
110.50 |
4052.16 |
110.79 |
-- |
|
Ballard Power Systems Inc. |
7046.90 |
39.25 |
7046.90 |
30.72 |
-- |
|
Beigene Ltd. |
317.69 |
68.47 |
317.69 |
56.64 |
-- |
|
Shopify |
1250.00 |
59.93 |
1250.00 |
80.75 |
-- |
|
Coupang Inc. |
2857.14 |
45.71 |
2857.14 |
49.71 |
-- |
|
Babylon |
3030.79 |
15.43 |
-- |
-- |
(3,030.79) |
|
Signa Sports United |
5000.00 |
22.70 |
5000.00 |
14.15 |
-- |
|
Adobe Inc. |
1147.30 |
442.14 |
1147.30 |
561.02 |
-- |
|
Zoom Video Communications |
4697.68 |
346.88 |
4697.68 |
318.89 |
-- |
|
COSTCO |
1036.58 |
515.04 |
1036.58 |
558.07 |
-- |
|
NextEra Energy |
6368.00 |
490.85 |
6368.00 |
472.51 |
-- |
|
American Tower Corp. |
1893.00 |
386.82 |
1893.00 |
367.13 |
-- |
|
Starbucks |
6313.30 |
657.40 |
6313.30 |
625.40 |
-- |
|
Microsoft |
1845.51 |
532.06 |
1845.51 |
628.47 |
-- |
|
Alphabet |
4260.00 |
441.89 |
4260.00 |
509.92 |
-- |
|
The Home Depot |
1641.98 |
484.58 |
1641.98 |
510.06 |
-- |
|
BlackRock |
741.69 |
496.28 |
741.69 |
512.61 |
-- |
|
Salesforce Inc. |
2650.23 |
529.46 |
2650.23 |
559.89 |
-- |
|
JPMorgan Chase & Co. |
3851.05 |
501.83 |
3851.05 |
560.10 |
-- |
|
Amazon |
4067.65 |
420.15 |
4067.65 |
530.26 |
-- |
|
Datadog |
4498.85 |
326.89 |
4498.85 |
442.60 |
-- |
|
Advanced Micro Devices |
4702.06 |
460.85 |
4702.06 |
535.61 |
-- |
|
Freeport-McMoRan |
12895.47 |
527.55 |
12895.47 |
515.82 |
-- |
|
Booking Holding |
213.48 |
566.23 |
213.48 |
576.46 |
-- |
|
CLTD |
833.34 |
72.13 |
833.34 |
48.37 |
-- |
|
Multi Plan W EXP 02/13/202 |
2500.00 |
0.23 |
2500.00 |
0.23 |
-- |
|
Linde PLC |
1208.40 |
429.51 |
1208.40 |
460.50 |
-- |
|
Bloom Energy Corp |
1067.69 |
21.28 |
1067.69 |
17.46 |
-- |
|
PDD Holdings |
1171.57 |
88.92 |
1171.57 |
81.00 |
-- |
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