Saudi Wealth Fund Divests Stakes in Major US Companies

Saudi Arabia’s Public Investment Fund (PIF), holding nearly $1 trillion in assets, divested its ownership in several US-listed firms during the second quarter, according to recent securities filings. The sales included holdings in prominent companies like Meta, Shopify, and PayPal.

The 13F filings also revealed that PIF liquidated its investments in Alibaba Group, Nu Holdings, and FedEx. These transactions occurred during a period when US stock markets experienced a recovery following an April downturn influenced by US tariff policies.

The filings indicated that PIF no longer possesses shares in Meta, Shopify, PayPal, Alibaba, Nu Holdings, and FedEx. Records from the end of March showed the fund previously held 667,996 class A shares in Meta, 1.25 million class A shares in Shopify, 1.76 million shares in PayPal, 6.83 million class A shares in Nu Holdings, 1.61 million in Alibaba sponsored ADS, and 498,164 common shares in FedEx.

PIF’s total investment in US equities, encompassing call options that grant the investor the right to purchase assets at a predetermined price within a specific timeframe, was valued at $23.8 billion at the close of the second quarter. This is a decrease from $25.5 billion at the end of the first quarter.

Entrusted with driving Saudi Arabia’s economic diversification under Crown Prince Mohammed bin Salman’s Vision 2030 initiative, PIF has expanded beyond its initial investments in Saudi public equities and infrastructure. In recent years, the fund has acquired significant stakes in international brands such as Uber and Lucid Motors, while also supporting sports ventures, including LIV Golf and the Newcastle United soccer club in England.

Domestically, PIF has allocated billions of dollars to large-scale projects like NEOM, the futuristic city being developed on the Red Sea, and sectors such as tourism, logistics, and clean energy.