Saudi sovereign wealth fund boosts U.S. equities exposure to nearly $12.8 billion | Reuters
Saudi Arabia’s sovereign wealth fund has increased its holding of U.S. stocks to nearly $12.8 billion in the fourth quarter from $7 billion in the third quarter, according to a U.S. regulatory filing on Tuesday.
The Public Investment Fund (PIF) took new bets in the last quarter, buying a $1.07 billion stake in Electronic Arts Inc and a $1.4 billion stake in Activision Blizzard, according to a Securities and Exchange Commission filing.
In the third quarter, the PIF had cut its exposure to North American equities by $3 billion, offloading some exchange traded funds (ETF) and stocks including Berkshire Hathaway.
At the start of 2020 the sovereign wealth fund bulked up minority stakes in companies worldwide, including oil companies, taking advantage of market weakness caused by the COVID-19 pandemic.
No comments:
Post a Comment