PIF cuts holding of US equities to $43.6 bln in Q1 2022

Logo of PIF

The Public Investment Fund (PIF) reduced its holding of US equities from $55.9 billion in Q4 2021 to $43.6 billion in Q1 2022, according to a Securities and Exchange Commission filing.

The Kingdom’s sovereign wealth fund cut its stake in three companies, namely Visa Inc, Plug Power, and Walmart.

On the other hand, the fund raised its stake in four companies, namely Take-Two Interactive, PayPal, Alibaba, and Farfetch Ltd.

In addition, PIF invested in five new companies and exited from only one company, as the following table illustrates the fund’s holding of US equities at the end of Q1 2022:

PIF Investment Details
Company	Equity by end of Q4 2021 (‘000 shares)	Value by end of Q4 2021 ($ mln)	Equity by end of Q1 2022 (‘000 shares)	Value by end of Q1 2022 ($ mln)	Change (‘000 shares)
Lucid Group	1015252.52	38630.36	1015252.52	25787.41	--
Activision Blizzard	37870.00	2519.49	37870.00	3033.77	--
Uber	72840.54	3054.20	72840.54	2598.95	--
SPDR Utilities Sector	32986.50	2361.17	32986.50	2456.18	--
Electronic Arts Inc	14210.00	1874.29	14210.00	1797.71	--
Take-Two Interactive	5640.00	1002.34	11414.68	1754.89	5774.68+
Live Nation	12565.17	1503.92	12565.17	1478.17	--
Carnival	50830.93	939.86	50830.93	1027.80	--
Cummins Inc	1800.30	392.72	1800.30	369.26	--
Visa Inc	1758.78	381.15	1428.78	316.86	(330.00)
Automatic Data Processing	1481.84	365.39	1481.84	337.18	--
FedEx Corp	1127.43	291.59	1127.43	260.88	--
MultiPlan	51250.00	227.04	51250.00	239.85	--
Air Products & Chemicals	727.34	221.30	727.34	181.77	--
Avery Dennison Corp	848.66	183.79	848.66	147.64	--
ProLogis	814.72	137.17	814.72	131.56	--
Plug Power	9827.36	277.42	5670.92	162.25	(4156.44)
NovaGold	16137.70	110.70	16137.70	124.74	--
Walmart	1658.00	239.89	790.24	117.68	(867.76)
Ballard Power Systems	9709.90	121.96	9709.90	113.02	--
Alibaba	697.07	82.80	1035.68	112.68	+ 338.61
PayPal	677.73	127.81	910.93	105.35	233.2+
Pinterest	4052.16	147.29	4052.16	99.72	--
Shopify	125.00	172.17	125.00	84.50	--
Compute Health Acquisition	7500.00	74.55	7500.00	74.25	--
Pinduoduo	1539.39	89.75	1539.39	61.75	--
Beijing Ltd.	317.68	86.07	317.69	59.92	--
Hyzon Motors	8033.48	52.14	8033.48	51.33	--
Coupang Inc	2857.14	83.94	2857.14	50.51	--
Farfetch Ltd.	3314.19	110.79	3314.20	50.11	3011.42+
MultiPlan W EXP 02/13/202	2500.00	3.18	2500.00	2.76	--
Just Eat Takeaway.com	2750.98	. 2960	--	--	(2750.98)

PIF’s new investments
Company	Equity (‘000 shares)	Value ($ mln)
Carnival	40000.00	83.90
Babylon	35410.79	137.75
SIGNA Sports United NV	5000.00	40.00
Meta platforms	418.66	93.09
Sea Ltd	239.44	28.68

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