property decreased Saudi Public Investment FundIn the US market, it increased from about 56 billion dollars at the end of the fourth quarter of last year to 43.6 billion dollars by the end of the first quarter of this year.
According to a disclosure by the fund to the US Securities and Exchange Commission, the fund reduced its stakes in three companies: “Visa INC”, “Plug Power” and “Wal-Mart”.
On the other hand, the fund raised its stakes in a number of companies, including increasing its stake in the Alibaba Group by 49% to more than one million shares, and doubling its stake in Take to Interactive to 11.4 million shares.
The fund also raised its stake in PayPal, and acquired a stake of more than 418 thousand shares in META PLATFORMS.
The Public Investment Fund has exited, according to the disclosure, from Grub Just Eat.
Over the past year, the Public Investment Fund nearly tripled its holdings of US-listed shares to $43.45 billion by the end of the third quarter, before rising again during the fourth quarter to $56 billion.
At that time, the fund had added more shares of the “Ali Baba” group, “Wal-Mart” and “Pinterest” to its portfolio.
This comes as the fund aims to reach $1.1 trillion in assets by 2025, according to the fund’s governor, Yasser Al-Rumayyan, earlier.
The Saudi government transferred a share of its shares in Aramco to the fund, as well as $40 billion in Saudi reserves by the end of 2020, to support its plan to diversify assets and double the size of the fund.
The ranking of the Saudi sovereign wealth fund rose to the fifth place among sovereign wealth funds globally, after the size of its assets increased to 620 billion dollars, according to the “SWF” website.