Saudi PIF nearly triples U.S. stock holdings; adds Alibaba, Walmart | Reuters
The Public Investment Fund, Saudi Arabia's sovereign wealth fund, nearly tripled its holdings of U.S.-listed stocks to $43.45 billion in the third quarter, adding shares of Alibaba Group Holding Ltd , Walmart Inc(WMT.N) and Pinterest (PINS.N).
Its U.S.-listed stock holdings in the quarter ended Sept. 30 increased from nearly $16 billion in the prior quarter.
Other stocks it bought included Just Eat Takeaway.com (TKWY.AS) and Ballard Power Systems (BLDP.TO).
The PIF, which manages $430 billion in assets, is at the centre of Saudi Arabia's plans to transform the economy by creating new sectors and diversifying revenues away from oil.
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