The Public Investment Fund (PIF), Saudi Arabia’s sovereign wealth fund, has significantly scaled back its U.S.-listed equity portfolio, reducing its value to $12.9 billion at the close of the fourth quarter of 2025. This represents a substantial decrease from the $19.4 billion reported at the end of the previous quarter, according to the fund’s latest filing with the U.S. Securities and Exchange Commission (SEC).
A Five-Year Low in US Holdings
This latest adjustment brings the PIF’s U.S. equity holdings to their lowest level since the fourth quarter of 2020. The move signals a major portfolio rebalancing and a strategic shift in the fund’s international investment approach as it continues to deploy capital in line with its long-term objectives.
Portfolio Restructuring and Key Holdings
The SEC filing reveals that the PIF now holds direct stakes in five U.S.-listed companies. The streamlined portfolio includes investments in Lucid Group, Electronic Arts, Uber Technologies, Allurion Technologies, and Clarivate.
Notably, the reduction also reflects a strategic internal restructuring. The fund’s substantial ownership in gaming giant Take-Two Interactive was transferred to its gaming and esports subsidiary, Savvy Games Group. As a result, this holding is no longer listed under PIF’s direct SEC disclosures.
Aligning with Vision 2030
This portfolio adjustment comes as Saudi Arabia intensifies its economic diversification efforts under the ambitious Saudi Vision 2030 framework. The PIF is the primary engine for this transformation, tasked with making impactful investments both within the Kingdom and globally to foster new industries, drive economic growth, and secure long-term financial returns.
About The Public Investment Fund (PIF)
The Public Investment Fund is one of the largest and most impactful sovereign wealth funds in the world. As the main investment arm of Saudi Arabia, it plays a leading role in advancing the country’s economic transformation and diversification. The PIF is building a portfolio of sustainable investments by investing in attractive, long-term opportunities locally and internationally.
Source: EntArabi
