A financial disclosure published today, Thursday, revealed that the Saudi Public Investment Fund, the sovereign wealth fund, whose value is close to trillion dollars, sold its shares in a number of companies listed in the United States during the second quarter of this year.
Companies included in sales operations
The list of companies from which the fund included “Meta”, “Shopfai” and “Paypal”, in addition to “Ali Baba”, “No Holdends” and “FedEx”. According to the disclosure, the fund no longer owns any shares in these companies after the sales operations that took place in a period that witnessed the recovery of American stock markets from a decline last April, which was linked to the US customs duties policies.
Details of the shares sold
The previous disclosure of the fund, at the end of March, had demonstrated 667,996 shares of category A in “Mita”, 1.25 million shares of the same category in “Shopfai”, 1.76 million shares in “Paypal”, 6.83 million category “A” in “No Holdings”, and 1.61 million shares in “ADS” that it runs “Ali Baba”, and 498,164 ordinary shares in “FedEx”.
Decreased total exposure to American stocks
With these exits, the total value of the exposure of the Public Investment Fund on American stocks decreased to 23.8 billion dollars at the end of the second quarter, compared to $ 25.5 billion by the end of the first quarter. The fund operations included purchase contracts that give it the right to acquire the basic asset at a specific price during a specific period of time.
Fund role in Vision 2030
The Fund is leading the Kingdom’s efforts to diversify its economy within the framework of the “Vision 2030” launched by Crown Prince Mohammed bin Salman. The fund has exceeded its initial investments in stocks and infrastructure, to expand in various fields globally and locally.
Global and local investments
On the global level, the Fund has acquired large classes in prominent brands such as “Uber”, “Lucid Motors” and “Nintendo”, and also supported sports projects such as “Lev Golf” and the “Newcastle United” club. As for internally, the fund pumped billions of dollars in giant projects such as the future city of “Neum” on the Red Sea, in addition to investments in sectors A strategy that includes tourism, logistical services, and clean energy.
