RIYADH: Saudi Arabia’s Public Investment Fund maintained a $12 billion US equity portfolio in the first quarter of 2026, down from roughly $12.9 billion at the end of 2025, as it continued to recalibrate investments across global markets.
A filing submitted by PIF to the US Securities and Exchange Commission showed the fund retained stakes in four major US-listed companies, Lucid Group Inc., Electronic Arts Inc., Uber Technologies Inc., and Claritev Corp., at the end of March.
Changes in the fund’s US equity positions are keenly watched by investors, serving as a clear barometer of its evolving sector focus and broader global investment strategy.
The reshuffle comes as the Kingdom accelerates its push to reduce oil dependence through Vision 2030, with PIF at the forefront of deploying capital across domestic and international markets.
“PIF’s reduction in US equity holdings should not necessarily be viewed as a retreat from US markets, but rather as part of a broader portfolio recalibration and capital allocation strategy,” said Tony Hallside, CEO of STP Partners.
