Logo of Public Investment Fund (PIF)
The Public Investment Fund (PIF) raised its holding of US equities from $30.94 billion in Q4 2022 to $35.52 billion in Q1 2023, according to a Securities and Exchange Commission filing.
The Kingdom’s sovereign wealth fund invested in two new companies during the quarter, Bloom Energy Corp. and PDD Holdings. It exited investments in Pinduoduo Inc, Carnival NOTE 5.750% 4/0 and Farfetch Ltd.
The PIF reduced its ownership in Visa Inc. and Ballard Power Systems Inc., but increased its holding in Electronic Arts, Air Products, Paypal and CLTD.
The following table illustrates the fund’s holding of US equities at the end of Q1 2023:
|
Details of PIF Investments in US Market |
|||||
|
Company |
Stake by end of Q4 2022 (‘000 shares) |
Value by end of Q4 2022 ($ mln) |
Stake by end of Q1 2023 (‘000 shares) |
Value by end of Q1 2023 ($ mln) |
Change (‘000 shares) |
|
Lucid Group |
1109006.60 |
7574.52 |
1109006.60 |
8916.41 |
-- |
|
Activision Blizzard |
37909.16 |
2901.95 |
37909.16 |
3244.65 |
-- |
|
Utilities Select Sector SPDR |
32986.50 |
2325.55 |
32986.50 |
2232.86 |
-- |
|
Electronic Arts |
16011.84 |
1956.33 |
24807.93 |
2988.12 |
8796.09+ |
|
Uber |
72840.54 |
1801.35 |
72840.54 |
2309.05 |
-- |
|
Take-Two Interactive |
11414.68 |
1188.61 |
11414.68 |
1361.77 |
-- |
|
Live Nation |
12565.17 |
876.29 |
12565.17 |
879.56 |
-- |
|
Air Products |
2685.33 |
827.78 |
2702.80 |
776.27 |
17.47+ |
|
PayPal |
7058.41 |
502.70 |
7497.00 |
569.32 |
438.59+ |
|
Meta Platforms |
3262.07 |
392.56 |
3262.07 |
691.36 |
-- |
|
Carnival |
50830.93 |
409.70 |
50830.93 |
515.93 |
-- |
|
CUMMINS Inc |
1800.30 |
436.19 |
1800.30 |
430.06 |
-- |
|
Automatic Data Processing |
1481.84 |
353.95 |
1481.84 |
329.90 |
-- |
|
MultiPlan |
51250.00 |
58.94 |
51250.00 |
54.33 |
-- |
|
Fedex Corp. |
1127.43 |
195.27 |
1127.43 |
257.61 |
-- |
|
Visa Inc. |
1101.27 |
228.80 |
954.87 |
215.28 |
(146.40) |
|
Avery Dennison Corp. |
848.66 |
153.61 |
848.66 |
151.85 |
-- |
|
Alibaba Group |
1035.68 |
91.23 |
1035.68 |
105.83 |
-- |
|
Walmart |
790.24 |
112.05 |
790.24 |
116.52 |
-- |
|
PROLOGIS |
814.72 |
91.84 |
814.72 |
101.65 |
-- |
|
Plug Power |
5670.92 |
70.15 |
5670.92 |
66.46 |
-- |
|
NovaGold |
16137.70 |
96.50 |
16137.70 |
100.38 |
-- |
|
Compute Health Acquisition |
1875.00 |
0.21 |
1875.00 |
0.75 |
-- |
|
Pinterest Inc. |
4052.16 |
98.39 |
4052.16 |
110.50 |
-- |
|
Ballard Power Systems Inc. |
9709.90 |
46.51 |
7046.90 |
39.25 |
(2663.00) |
|
Beigene Ltd. |
317.69 |
69.87 |
317.69 |
68.47 |
-- |
|
Shopify |
1250.00 |
43.39 |
1250.00 |
59.93 |
-- |
|
Coupang Inc. |
2857.14 |
42.03 |
2857.14 |
45.71 |
-- |
|
Babylon |
3030.79 |
20.46 |
3030.79 |
15.43 |
-- |
|
Signa Sports United |
5000.00 |
24.55 |
5000.00 |
22.70 |
-- |
|
Adobe Inc. |
1147.30 |
386.10 |
1147.30 |
442.14 |
-- |
|
Zoom Video Communications |
4697.68 |
318.22 |
4697.68 |
346.88 |
-- |
|
COSTCO |
1036.58 |
473.20 |
1036.58 |
515.04 |
-- |
|
NextEra Energy |
6368.00 |
532.37 |
6368.00 |
490.85 |
-- |
|
American Tower Corp. |
1893.00 |
401.05 |
1893.00 |
386.82 |
-- |
|
Starbucks |
6313.30 |
626.28 |
6313.30 |
657.40 |
-- |
|
Microsoft |
1845.51 |
442.59 |
1845.51 |
532.06 |
-- |
|
Alphabet |
4260.00 |
375.86 |
4260.00 |
441.89 |
-- |
|
The Home Depot |
1641.98 |
518.64 |
1641.98 |
484.58 |
-- |
|
BlackRock |
741.69 |
525.59 |
741.69 |
496.28 |
-- |
|
Salesforce Inc. |
2650.23 |
351.39 |
2650.23 |
529.46 |
-- |
|
JPMorgan Chase & Co. |
3851.05 |
516.43 |
3851.05 |
501.83 |
-- |
|
Amazon |
4067.65 |
341.68 |
4067.65 |
420.15 |
-- |
|
Datadog |
4498.85 |
330.67 |
4498.85 |
326.89 |
-- |
|
Advanced Micro Devices |
4702.06 |
304.55 |
4702.06 |
460.85 |
-- |
|
Freeport-McMoRan |
12895.47 |
490.03 |
12895.47 |
527.55 |
-- |
|
Booking Holding |
213.48 |
430.22 |
213.48 |
566.23 |
-- |
|
CLTD |
239.44 |
12.46 |
833.34 |
72.13 |
593.90+ |
|
Multi Plan W EXP 02/13/202 |
2500.00 |
0.13 |
2500.00 |
0.23 |
-- |
|
Linde PLC |
1208.40 |
394.15 |
1208.40 |
429.51 |
-- |
|
Bloom Energy Corp |
-- |
-- |
1067.69 |
21.28 |
1067.69+ |
|
PDD Holdings |
-- |
-- |
1171.57 |
88.92 |
1171.57+ |
|
Pinduoduo Inc |
1539.39 |
125.54 |
-- |
-- |
(1539.39) |
|
Carnival NOTE 5.750% 4/0 |
40000.00 |
40.33 |
-- |
-- |
(40000.00) |
|
Farfetch |
2104.36 |
9.95 |
-- |
-- |
(2104.36) |
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