PIF cuts holding of US equities to $40.8 bln in Q2 2022

Logo of Public Investment Fund (PIF)

The Public Investment Fund (PIF) invested in 17 new companies in the US market during the second quarter of 2022, including JPMorgan Chase & Co., BlackRock, Amazon and Microsoft.

It reduced its holding of US equities from $43.6 billion in Q1 2022 to $40.8 billion in Q2 2022, according to a Securities and Exchange Commission filing.

The Kingdom’s sovereign wealth fund raised its stake in five companies, namely Electronic Arts Inc., Air Products & Chemicals, PayPal, Meta Platforms, and Shopify.

On the other hand, the fund cut its stake in only one company, namely Visa Inc.

The following table illustrates the fund’s holding of US equities at the end of Q2 2022:

PIF Investment Details
Company	Equity by Q1 2022 (‘000 shares)	Value by Q1 2022 ($ mln)	Equity by Q2 2022 (‘000 shares)	Value by Q2 2022 ($ mln)	Change (‘000 shares)
Lucid Group	1015252.52	25787.41	1015252.52	17421.73	--
Activision Blizzard	37870.00	3033.77	37870.00	2948.56	--
SPDR Utilities Sector	32986.50	2456.18	32986.50	2313.34	--
Electronic Arts Inc	14210.00	1797.71	16011.84	1947.84	1801.84+
Uber	72840.54	2598.95	72840.54	1490.32	--
Take-Two Interactive	11414.68	1754.89	11414.68	1398.64	--
Live Nation	12565.17	1478.17	12565.17	1037.63	--
Air Products & Chemicals	727.34	181.77	2685.33	645.77	1957.99+
PayPal	910.93	105.35	7058.41	492.96	6147.48+
Meta Platforms	418.66	93.09	2940.72	474.19	2522.06+
Carnival	50830.93	1027.80	50830.93	439.69
Cummins Inc	1800.30	369.26	1800.30	348.41	--
Automatic Data Processing	1481.84	337.18	1481.84	311.25	--
MultiPlan	51250.00	239.85	51250.00	281.36	--
FedEx Corp	1127.43	260.88	1127.43	255.60	--
Visa Inc	1428.78	316.86	1101.27	216.83	(327.51)
Avery Dennison Corp	848.66	147.64	848.66	137.37	--
Alibaba	1035.68	112.68	1035.68	117.74	--
Walmart	790.24	117.68	790.24	96.08
ProLogis	814.72	131.56	814.72	95.85	--
Pinduoduo	1539.39	61.75	1539.39	95.13	--
Plug Power	5670.92	162.25	5670.92	93.97	--
NovaGold	16137.70	124.74	16137.70	77.62	--
Compute Health Acquisition	7500.00	74.25	7500.00	73.88	--
Pinterest	4052.16	99.72	4052.16	73.59	--
Ballard Power Systems	9709.90	113.02	9709.90	61.17	--
Beijing Ltd.	317.69	59.92	317.69	51.42	--
Carnival NOTE 5.750% 4/0	40000.00	83.90	40000.00	44.78	--
Shopify	125.00	84.50	1250.00	39.05	1125.00+
Coupang Inc	2857.14	50.51	2857.14	36.43	--
Babylon	35410.79	137.75	35410.79	34.63	--
SIGNA Sports United NV	5000.00	40.00	5000.00	32.50	--
Farfetch Ltd.	3314.20	50.11	3314.20	23.73	--
Hyzon Motors	8033.48	51.33	8033.48	23.62	--
Sea Ltd	239.44	28.68	239.44	16.01	--
MultiPlan W EXP 02/13/202	2500.00	2.76	2500.00	2.75	--

PIF’s new investments
Company	Equity (‘000 shares)	Value ($ mln)
Adobe Systems Incorporated	1147.30	419.98
Zoom Video Communications	4697.68	507.21
Costco Wholesale Corp New	1036.58	496.81
NextEra Energy	6368.00	493.27
American Tower Corp New	1893.00	483.83
Starbucks	6313.30	482.27
Microsoft	1845.51	473.98
Alphabit	213.00	464.18
The Home Depot	1641.98	450.35
BlackRock	741.69	451.72
Salesforce	2650.22	437.39
JP Morgan Chase & Co.	3851.05	433.67
Amazon.com	4067.65	432.03
Datadog	4498.85	428.47
Advanced Micro Devices	4702.06	359.57
Freeport-McMoRan	12895.47	377.32
Booking Holdings Inc.	213.48	373.37

PIF Investments

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