Saudi Wealth Fund Slashes Reported Holdings of US Equities
- Public Investment Fund’s US stock holdings fall by $17 billion
- Saudi fund replaces US tech stakes with call options
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Saudi Arabia’s sovereign wealth fund slashed the number of US stocks it reported owning at the end of the first quarter, roughly halving its direct holdings in those equities.
The Riyadh-based Public Investment Fund held US-traded stocks with a market value of about $18 billion as of March 31, down from $35 billion at year-end, according to an analysis of a Form 13F filed Wednesday with the US Securities and Exchange Commission.