The Kingdom of Saudi Arabia's Public Investment Fund (PIF) is very involved in both public and private investments.Information obtained from the merger of LIV Golf and the PGA outlines the fifty largest holdings of PIF; these include investments in Lucid, Electronic Arts, Uber, Take-Two, and Live Nation.It is clear from their portfolio that the fund is placing their bets on experiences such as gaming and live entertainment.
The Saudi Arabia Public Investment Fund (PIF), which is involved in U.S. public and private markets, has not been obligated to disclose its holdings in either of those markets. However, newly released documents from the PGA-LIV merger hearings unveiled a list of the sovereign wealth fund's top public equity investments, totaling to an estimated value of $35.5 billion. The report suggests the PIF has made clear investments in experiential offerings, like gaming and in-person entertainment. Lucid, an electric automaker, is the PIF's largest stock with a worth of $8.9 billion, accounting to approximately 25% of the fund's public equity portfolio. Other hefty investments include those in Activision Blizzard ($3.3 billion; 9.1% of portfolio) Electronic Arts ($2.98 billion; 8.4%), Uber ($2.3 billion; 8.4%), Take-Two Interactive Software ($1.36 billion; 3.8%) and Live Nation ($880 million; 2.5%).The PIF's weighting in tech stocks, like those in the Nasdaq, appears to be different to the market standard. Google carries a 2.87% weight in the Nasdaq, however, only 1.2% in the PIF's public market investments. The fund is seemingly over-investing in various tech companies such as Booking Holdings, Take-Two, Uber, and Zoom.The Crown Prince of Saudi Arabia, Mohammed bin Salman, has initiated a shift from oil and gas investments to those in other realms - consequently garnering attention from venture capital and private equity firms. The following is the full list of the sovereign wealth fund's public equity holdings as of March 31st:
The firm had undergone some restructuring in order to make it more efficient.
The firm underwent restructuring to increase efficiency.
John Rosevear of CNBC provided input to this report.
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