Logo of The Public Investment Fund (PIF)
The Public Investment Fund (PIF) cut its ownership in US equities from $36.48 billion in Q3 2023 to $35.2 billion in Q4 2023, according to a US Securities and Exchange Commission (SEC) filing.
The Kingdom’s sovereign wealth fund lowered its holdings in Air Products and Chemicals, Fedex Corp, Visa Inc, and Ballard Power Systems Inc.
The fund exited its investment in Activision Blizzard and Plug Power. It had no investments in new companies in the three-month period.
The following table illustrates the fund’s holding of US equities at the end of Q4 2023:
|
PIF Investment in US Equities |
|||||||
|
Company |
Symbol |
Q3 Ownership (mln shares) |
Q4 Ownership (mln shares) |
Change (mln shares) |
Value by Q3 end ($ mln) |
Value by Q4 end ($ mln) |
Change ($ mln) |
|
Lucid Group |
LCID |
1374.7 |
1374.7 |
-- |
7684.6 |
5787.5 |
(1897.1) |
|
Activision Blizzard |
ATVI |
37.9 |
-- |
-- |
3549.4 |
-- |
-- |
|
Utilities Select Sector SPDR |
XLU |
33.0 |
33.0 |
-- |
1943.9 |
2089.0 |
+145.1 |
|
Electronic Arts |
EA |
24.8 |
24.8 |
-- |
2986.9 |
3394.0 |
+407.1 |
|
Uber |
UBER |
72.8 |
72.8 |
-- |
3349.9 |
4484.8 |
+1134.9 |
|
Take-Two Interactive |
TTWO |
11.4 |
11.4 |
-- |
1602.5 |
1837.2 |
+234.7 |
|
Live Nation |
LYV |
12.57 |
712.5 |
-- |
1043.4 |
1176.1 |
+132.7 |
|
Air Products and Chemicals |
APD |
2.8 |
2.7 |
(0.1) |
778.9 |
752.5 |
(26.4) |
|
PayPal |
PYPL |
7.5 |
7.5 |
-- |
438.3 |
460.4 |
+22.1 |
|
Meta Platform |
META |
3.3 |
3.3 |
-- |
979.3 |
1154.6 |
+175.3 |
|
Carnival |
CCL |
50.8 |
50.8 |
-- |
697.4 |
942.4 |
+245.0 |
|
CUMMINS Inc |
CMI |
1.8 |
1.8 |
-- |
411.3 |
431.3 |
+20.0 |
|
Automatic Data Processing |
ADP |
1.5 |
1.5 |
-- |
356.5 |
345.2 |
(11.3) |
|
MultiPlan |
MPLN |
51.3 |
51.3 |
-- |
86.1 |
73.8 |
(12.3) |
|
Fedex Corp |
FDX |
0.72 |
0.63 |
(0.1) |
190.4 |
160.0 |
(30.4) |
|
Visa Inc |
V |
0.96 |
0.95 |
(0.01) |
219.6 |
248.6 |
+29.0 |
|
Avery Dennison Corp. |
AVY |
0.7 |
0.7 |
-- |
119.7 |
132.4 |
+12.7 |
|
Alibaba Group |
BABA |
1.5 |
1.5 |
-- |
126.4 |
112.9 |
(13.5) |
|
Walmart |
WMT |
0.8 |
0.8 |
-- |
126.4 |
124.6 |
(1.8) |
|
PROLOGIS |
PLD |
1.2 |
1.2 |
-- |
129.5 |
153.9 |
+24.4 |
|
Plug Power |
PLUG |
5.7 |
-- |
-- |
43.1 |
-- |
-- |
|
NovaGold |
NG |
16.1 |
16.1 |
-- |
62.0 |
60.4 |
(1.6) |
|
Pinterest Inc. |
PINS |
4.9 |
4.9 |
-- |
131.3 |
179.9 |
+48.6 |
|
Ballard Power Systems Inc. |
BLDP |
7.1 |
7.0 |
(0.1) |
25.9 |
26.1 |
+0.2 |
|
Beigene Ltd. |
BGNE |
0.4 |
0.4 |
-- |
63.7 |
63.9 |
+0.2 |
|
Shopify |
SHOP |
1.3 |
1.3 |
-- |
68.2 |
97.4 |
+29.2 |
|
Coupang Inc. |
CPNG |
2.9 |
2.9 |
-- |
48.6 |
46.3 |
(2.3) |
|
Signa Sports United |
SSU |
5.0 |
5.0 |
-- |
1.4 |
0.02 |
(1.4) |
|
Adobe Inc. |
ADBE |
1.1 |
1.1 |
-- |
585.0 |
684.5 |
+99.5 |
|
Zoom Video Communications |
ZM |
4.7 |
4.7 |
-- |
328.6 |
337.8 |
+9.2 |
|
COSTCO |
COST |
1.0 |
1.0 |
-- |
585.6 |
684.2 |
+98.6 |
|
NextEra Energy |
NEE |
6.4 |
6.4 |
-- |
364.8 |
386.8 |
+22.0 |
|
American Tower Corp. |
AMT |
1.9 |
1.9 |
-- |
311.3 |
408.7 |
+97.4 |
|
Starbucks |
SBUX |
6.3 |
6.3 |
-- |
576.2 |
606.1 |
+29.9 |
|
Microsoft |
MSFT |
1.8 |
1.8 |
-- |
582.7 |
694.0 |
+111.3 |
|
Alphabet |
GOOGL |
4.3 |
4.3 |
-- |
557.5 |
595.1 |
+37.6 |
|
The Home Depot |
HD |
1.6 |
1.6 |
-- |
496.1 |
569.0 |
+72.9 |
|
BlackRock |
BLK |
0.7 |
0.7 |
-- |
479.5 |
602.1 |
+122.6 |
|
Salesforce Inc. |
CRM |
2.7 |
2.7 |
-- |
537.4 |
697.4 |
+160.0 |
|
JPMorgan Chase & Co. |
JPM |
3.9 |
3.9 |
-- |
558.5 |
655.1 |
+96.6 |
|
Amazon |
AMZN |
4.1 |
4.1 |
-- |
517.1 |
618.0 |
+100.9 |
|
Datadog |
DDOG |
4.5 |
4.5 |
-- |
409.8 |
546.1 |
+136.3 |
|
Advanced Micro Devices |
AMD |
4.7 |
4.7 |
-- |
483.5 |
693.1 |
+209.6 |
|
Freeport-McMoRan |
FCX |
12.9 |
12.9 |
-- |
480.9 |
549.0 |
+68.1 |
|
Booking Holding |
BKNG |
0.2 |
0.2 |
-- |
658.4 |
757.3 |
+98.9 |
|
CLTD |
SE |
0.8 |
0.8 |
-- |
36.6 |
33.8 |
(2.8) |
|
Multi Plan W EXP 02/13/202 |
MPLN/WS |
2.5 |
2.5 |
-- |
0.2 |
0.3 |
+0.1 |
|
Linde PLC |
LIN |
1.2 |
1.2 |
-- |
449.9 |
496.3 |
+46.4 |
|
Bloom Energy Corp |
BE |
1.1 |
1.1 |
-- |
14.2 |
15.8 |
+1.6 |
|
PDD Holdings |
PDD |
1.7 |
1.7 |
-- |
167.0 |
249.2 |
+82.2 |
|
Allurion Technologies |
ALUR |
1.15 |
1.15 |
-- |
1.0 |
0.5 |
(0.5) |
|
ERMENEGILDO ZEGNA N V |
ZGN |
2.16 |
2.2 |
-- |
30.1 |
25.8 |
(4.3) |
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