Saudi Arabia’s sovereign wealth fund has exited its holdings in nine US-listed companies in the third quarter, according to filings released just days before Crown Prince Mohammed bin Salman visits the White House.
The Public Investment Fund sold its shares in companies including Visa and Pinterest, as it cut its exposure to US-listed stocks by 18 per cent compared with the second quarter.
The near-$1tn fund maintained holdings worth $19.4bn in six US-listed groups, including Uber and Take-Two Interactive, according to US Securities and Exchange Commission filings. Its holdings in US equities were worth as much as $56bn in the final quarter of 2021.
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