BANGALORE: Saudi Arabia’s almost $1 trillion sovereign wealth fund sold its stakes in several US-listed companies — including Meta, Shopify and PayPal — in the second quarter, according to securities filings released on Thursday.
The Public Invest-ment Fund also sold its stakes in Alibaba Group, Nu Holdings and FedEx, the 13F filings show, during a quarter in which US stock markets rebounded from an April drop tied to US tariff policies.
The filings showed that PIF no longer held any shares in Meta, Shopify, PayPal, Alibaba, Nu Holdings and FedEx.
Its previous filing showed that, at the end of March, the fund had 667,996 class A shares in Meta, 1.25m class A shares in Shopify, 1.76m shares in PayPal, 6.83m shares class A shares in Nu Holdings, 1.61m in Alibaba sponsored ADS, and 498,164 common shares in FedEx.
PIF’s total exposure to US equities, which include call options that give the state investor a right to buy an underlying asset at a specified price within a specific time period, was valued at $23.8 billion at the end of the second quarter, versus $25.5bn at the end of the first quarter.
In recent years, the fund took high-profile stakes in global brands, such as Uber and Lucid Motors, while also backing sports ventures including LIV Golf and English soccer club Newcastle United.
Published in Dawn, August 15th, 2025
