Saudi PIF held $56 billion in US stocks in December 2021
The PIF owns stake in companies like Lucid, Uber Technologies, Pinterest among others
- Feb 15, 2022,
- Updated Feb 15, 2022 2:39 PM IST
Saudi sovereign wealth fund PIF held nearly $56 billion worth of U.S.-listed stocks as of December last year, up from $43.4 billion at the end of September, boosted by the increased value of electric car maker Lucid, it said in a U.S. regulatory filing.
The fund's Lucid holdings were valued at $38.6 billion as of December, up from $25.8 billion at the end of September, the filing showed.
Lucid's listing in July last year was a huge boost for the Saudi sovereign wealth fund. The Public Investment Fund (PIF), which currently holds a nearly 62% stake in Lucid, had invested more than $1 billion in the company in 2018 for a substantial stake and increased its investment in February 2021.
Shares of Lucid have fallen 28% so far this year.
The PIF also owns a 3.75% stake in ride-sharing company Uber Technologies.
The sovereign wealth fund sharply cut its stake in Prologis, while substantially increasing its stake in Farfetch, a technology platform in the fashion industry, to 3.3 million class A shares.
It also raised its stake in Pinterest.
Saudi sovereign wealth fund PIF held nearly $56 billion worth of U.S.-listed stocks as of December last year, up from $43.4 billion at the end of September, boosted by the increased value of electric car maker Lucid, it said in a U.S. regulatory filing.
The fund's Lucid holdings were valued at $38.6 billion as of December, up from $25.8 billion at the end of September, the filing showed.
Lucid's listing in July last year was a huge boost for the Saudi sovereign wealth fund. The Public Investment Fund (PIF), which currently holds a nearly 62% stake in Lucid, had invested more than $1 billion in the company in 2018 for a substantial stake and increased its investment in February 2021.
Shares of Lucid have fallen 28% so far this year.
The PIF also owns a 3.75% stake in ride-sharing company Uber Technologies.
The sovereign wealth fund sharply cut its stake in Prologis, while substantially increasing its stake in Farfetch, a technology platform in the fashion industry, to 3.3 million class A shares.
It also raised its stake in Pinterest.