SAMA’s US equity investments rise to $9.9B at Q3-end

The value of the Saudi Central Bank’s (SAMA) disclosed investments in US securities rose to $9.93 billion (SAR 37.24 billion) at the end of September 2026, compared with $7.63 billion at the end of June, an increase of $2.31 billion, or 30.3%.

The number of disclosed investment positions stood at 491, compared with 505 at the end of the previous quarter. During the quarter, the central bank added eight new positions and exited 22, according to SAMA’s disclosure filed with the US Securities and Exchange Commission (SEC) on Nov. 13, 2026

The portfolio’s disclosed value increased by about $7.26 billion, or 271%, since the end of 2025. The increase was driven by both a rise in the number of shares held and an appreciation in their market value.

Nvidia topped the portfolio at the end of September, replacing Micron Technology, which had held the largest individual position at the end of June. The 10 largest investment positions accounted for approximately 36.4% of the portfolio’s total disclosed value.

Key Changes in SAMA’s Holdings during Q3 2026

A quarter-on-quarter (QoQ) comparison showed an increase in the number of shares held in several major companies, as detailed below:

Nvidia’s position value rose by 66.3% during the third quarter, while the number of shares held rose by 45.7%. This indicates that the increase was driven by both share purchases and an appreciation in the stock price.

The data point to greater portfolio exposure to technology and semiconductor stocks, alongside continued investments in exchange-traded funds and various sectors.

Note: These figures cover securities subject to US disclosure requirements under Form 13F and do not represent SAMA’s total foreign investments.