The Public Investment Fund (PIF) reduced its holdings in US companies to $7.05 billion by the end of Q3 2020 from $10.1 billion in Q2 2020.
The Kingdom’s sovereign wealth fund acquired 13 million shares in Canada’s NovaGold for $154.6 million, it said in a filing to the US Securities and Exchange Commission (SEC).
The PIF maintained its ownership in Uber, Live Nation, Carnival, Suncor Energy Inc., Automatic Data Processing Inc., and the Utilities Select Sector SPDR Fund.
On the other hand, the fund exited five companies, namely Cisco, Berkshire Hathaway, Booking, Union Pacific Corp. (UNP), and CNQ, along with the Real Estate Select Sector SPDR Fund and the Materials Select Sector SPDR Fund.
|
PIF Investment Details |
||||||
|
Company |
Stake by end of Q2 (‘000 shares) |
Value by end of Q2 ($ mln) |
Stake by end of Q3 (‘000 shares) |
Value by end of Q3 ($ mln) |
|
Variation (‘000 shares) |
|
Suncor Energy |
50,975.32 |
859.4 |
50,975.32 |
623.4 |
-- |
|
|
Carnival |
50,830.93 |
834.6 |
50,830.93 |
771.6 |
-- |
|
|
Live Nation |
12,565.17 |
557.0 |
12,565.17 |
677.0 |
-- |
|
|
Automatic Data Processing |
1,481.84 |
220.6 |
1,481.84 |
206.7 |
-- |
|
|
Uber |
72,840.54 |
2,263.9 |
72,840.54 |
2,657.2 |
-- |
|
|
NovaGold |
-- |
-- |
13,000.61 |
154.6 |
+ 13,000.61 |
|
|
Utilities Select Sector SPDR |
32,986.5 |
1,861.4 |
32,986.5 |
1,958.7 |
|
-- |
|
Companies Exited by PIF |
||
|
Company |
Stake by end of Q2 (‘000 shares) |
Value by end of Q2 ($ mln) |
|
Union Pacific |
543.22 |
91.8 |
|
Booking Holdings |
21.53 |
34.3 |
|
Berkshire Hathaway |
218.78 |
39.0 |
|
CISCO |
5,805.20 |
270.7 |
|
Canadian Natural |
17,134.36 |
298.6 |
|
Real Estate Select Sector SPDR |
45,858.62 |
1,596.3 |
|
SPDR Equipment |
21,222.25 |
1,195.9 |
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