Tariff-induced market volatility drove the Public Investment Fund (PIF) to divest all its shares in some US-listed companies during 2Q 2025, including Meta, Shopify, PayPal, Alibaba, Nu Holdings, and FedEx, Bloomberg reports. A 13F filing to the US Securities and Exchange Commission shows that the PIF no longer has shares in these companies.

The breakdown: The PIF sold off about 668k class A shares in Meta, 1.3 mn class A shares in Shopify, 1.8 mn shares in PayPal, 6.8 mn class A shares in Nu Holdings, 1.61 mn in Alibaba sponsored ADS, and 498.2k common shares in FedEx.

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The PIF’s US portfolio stood at USD 23.8 bn at the end of the second quarter, compared to USD 25.5 bn in 1Q, according to Reuters.

REMEMBER- The PIF’s AUM rose 19.3% y-o-y to SAR 3.4 tn by the end of 2024, with 82% deployed locally, 17% internationally, and 2% in treasuries. Saudi equity holdings accounted for 36% of AUM, or SAR 1.2 tn, up 11 percentage points y-o-y, making it the only portfolio segment to increase its share of total assets. That aligns with PIF’s strategy to trim overseas exposure from 30% to the 18-20% range while doubling down on domestic diversification projects and attracting co-investment from foreign firms in the Kingdom.

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