PIF (Public Funding Fund) Managing Director Yasir bin Othman Al-Rumayyan attends the Russian-Saudi Funding Discussion board held on the Ritz-Carlton Moscow Lodge.
Sergei Bobylev | TASS through Getty Photos
Saudi Arabia’s sovereign wealth fund, referred to as the Public Funding Fund or PIF, is an energetic participant in U.S. private and non-private markets.
In contrast to most U.S. funds, it is not required to interrupt down its holdings in both of these markets. However among the many paperwork disclosed within the current PGA-LIV merger hearings was a beforehand unreported record of the sovereign wealth fund’s prime public fairness holdings, valued at some $35.5 billion. From that report, it seems that has made a transparent sequence of bets on experiential choices, starting from gaming to in-person leisure.
The record, which was up to date as of March 31, exhibits a $8.9 billion stake in electrical automaker Lucid, constituting about 25% of PIF’s fairness holdings. PIF controls about 60% of Lucid’s excellent shares on the time of publication.
PIF’s second largest stake, in Activision Blizzard, was valued at $3.3 billion and amounted to 9.1% of PIF’s public fairness holdings. Shares within the sport maker had been up greater than 10% in mid-day buying and selling on Tuesday as a decide declined the Federal Commerce Fee’s request for an injunction to stall Microsoft’s deal to accumulate the corporate.
In descending order of dimension, PIF’s subsequent largest company holdings had been in Digital Arts ($2.98 billion, or 8.4% of its portfolio), Uber ($2.3 billion, or 8.4%), Take Two Software program ($1.36 billion, or 3.8%) and Stay Nation ($880 million or 2.5%).
Saudi Arabia has loved privileged entry and outsize consideration from enterprise capital and personal fairness corporations, that are eager to activate the dominion’s deep pockets because it diversifies away from oil-and-gas investments underneath the route of Crown Prince Mohammed bin Salman.
Here is the total record:
—CNBC’s John Rosevear contributed to this report.