A look at PIF investments in US market by Q3 2020-end

The Public Investment Fund (PIF) reduced its holdings in US companies to $7.05 billion by the end of Q3 2020 from $10.1 billion in Q2 2020.

The Kingdom’s sovereign wealth fund acquired 13 million shares in Canada’s NovaGold for $154.6 million, it said in a filing to the US Securities and Exchange Commission (SEC).

The PIF maintained its ownership in Uber, Live Nation, Carnival, Suncor Energy Inc., Automatic Data Processing Inc., and the Utilities Select Sector SPDR Fund.

On the other hand, the fund exited five companies, namely Cisco, Berkshire Hathaway, Booking, Union Pacific Corp. (UNP), and CNQ, along with the Real Estate Select Sector SPDR Fund and the Materials Select Sector SPDR Fund.

PIF Investment Details
Company	Stake by end of Q2 (‘000 shares)	Value by end of Q2 ($ mln)	Stake by end of Q3 (‘000 shares)	Value by end of Q3 ($ mln)	Variation (‘000 shares)
Suncor Energy	50,975.32	859.4	50,975.32	623.4	--
Carnival	50,830.93	834.6	50,830.93	771.6	--
Live Nation	12,565.17	557.0	12,565.17	677.0	--
Automatic Data Processing	1,481.84	220.6	1,481.84	206.7	--
Uber	72,840.54	2,263.9	72,840.54	2,657.2	--
NovaGold	--	--	13,000.61	154.6	+ 13,000.61
Utilities Select Sector SPDR	32,986.5	1,861.4	32,986.5	1,958.7	--

Companies Exited by PIF
Company	Stake by end of Q2 (‘000 shares)	Value by end of Q2 ($ mln)
Union Pacific	543.22	91.8
Booking Holdings	21.53	34.3
Berkshire Hathaway	218.78	39.0
CISCO	5,805.20	270.7
Canadian Natural	17,134.36	298.6
Real Estate Select Sector SPDR	45,858.62	1,596.3
SPDR Equipment	21,222.25	1,195.9

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