Public Investment Fund (PIF) of Saudi Arabia reduced its U.S. equity holdings during the third quarter, exiting positions in nine U.S.-listed companies, including Pinterest, Linde PLC, Prologis, Air Products & Chemicals and Cummins Inc.. The value of its U.S. portfolio declined to about US$19.4 billion, down from approximately US$23.8 billion in the prior quarter.
The fund maintained stakes in six U.S. companies, including Uber Technologies, Electronic Arts (EA), Lucid Group, Take‑Two Interactive Software (TTWO), Allurion Technologies and Clarivate. Notably, the EA stake is expected to shift off PIF’s publicly-listed U.S. holdings once EA completes its take–private transaction.
The move aligns with PIF’s strategic shift to focus more heavily on domestic investments within Saudi Arabia as global market conditions evolve.
#Investor Takeaway
The portfolio reduction suggests near term caution in PIF’s global investment strategy as the fund redirects focus toward domestic priorities.
#Market Impact
The adjustment may introduce added volatility for affected U S equities as market participants assess the implications of reduced exposure from a major foreign investor. The repositioning could also influence broader sentiment surrounding sectors tied to PIF’s previous holdings.
#What’s Next
Investors should watch for the fund’s next quarterly filing to gauge whether further adjustments are planned and track performance trends among companies tied to the exits.
#Broader Market Context
This shift may create marginal ripple effects in major indexes such as the S and P 500, particularly within areas where PIF meaningfully altered its holdings.