Saudi Arabia’s PIF Reduces U.S. Stock Exposure as Portfolio Value Declines
Saudi Arabia's Public Investment Fund (PIF) continued its retreat from U.S. equities in Q3, with portfolio value dropping 18% to $19.4 billion. The sovereign wealth fund liquidated full positions in Pinterest, Linde Plc, Prologis, and Air Products while maintaining stakes in Uber Technologies and Electronic Arts.
The divestment strategy saw significant value shifts, including a $359 million reduction in Cummins exposure and a $205 million cut to Linde holdings. This follows similar reductions in Q2, signaling a strategic pivot away from U.S. markets amid broader portfolio reallocation.