- Saudi Arabia’s Public Investment Fund (PIF) has bought shares of US-based tech giants including Alphabet Inc. GOOG, Zoom Video Communications Inc ZMand Microsoft Corporation MSFT.
- According to the SEC filing, the market value of the sovereign wealth fund’s investment portfolio increased to approximately $40.8 billion at the end of the second trimester.
- The The regulatory filing with the SEC showed that the PIF acquired 213,000 class A shares in Alphabet, 4.7 million class A shares in Zoom and 1.8 million in Microsoft.
- He also acquired JPMorgan Chase & Co JPM and BlackRock Inc. noir shares, buying 3.9 million shares and 741,693 shares respectively.
- The fund bought 6.3 million shares in Starbucks Corporation SBUX and added other actions, including Adobe Inc. ADBE, Advanced Micro Devices Inc. AMD, Salesforce Inc. RCMP, Home Depot Inc. HD, Costco wholesale company COST, Freeport-McMoRan Inc FCXDatadog Inc. DDOG and NextEra Energy Inc BORN.
- Reuters writes that the PIF manages $620 billion in assets and is at the center of Saudi Arabia’s plans to transform the economy by creating new sectors and diversifying income away from oil.
- Photo via Wikimedia Commons
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