13F filer · CIK 1767640 ↗
Public Investment Fund
You are looking at Q2 2020. See the latest, Q2 2026 →
Reported value
$10.12B
+3.5% on the quarter before
Positions
12
2 new · 14 sold out
Top 10
99.3%
of the value
Est. gain
+$500.5M
on stocks held all quarter
Est. return
+12.3%
on those stocks since Q1 2020
Positions as of Jun 30, 2020, from Public Investment Fund's 13F filing with the SEC. A 13F lists a manager's US-listed stocks and options at a quarter end and is filed up to 45 days later, so the fund may hold something else today. It leaves out short positions, cash and holdings outside the US.
Portfolio at a glance
- New
- Added
- Cut
- Same
- Options
Each tile is a position, sized by its share, colored by what the fund did with it since Q1 2020. Striped tiles are options.
Largest buys
Since Q1 2020, by estimated size: the change in shares at the quarter-end price, since a 13F gives no trade prices. Percentages are the position's share of the portfolio, before and after.
- Select Sector SPDR Tr~$2.79BNew · 0.0% → 27.6%+67,080,870 shares
- Select Sector SPDR Tr~$1.86BNew · 0.0% → 18.4%+32,986,504 shares
- Suncor Energy Inc New~$346.1MAdded · 4.9% → 8.5%+20,527,736 shares
- Carnival Corp~$265.0MAdded · 4.7% → 8.2%+16,141,778 shares
- Live Nation Entertainment In~$151.2MAdded · 4.3% → 5.5%+3,411,646 shares
- Automatic Data Processing~$135.2MAdded · 0.8% → 2.2%+907,837 shares
Largest sells
Since Q1 2020, by estimated size: the change in shares at the quarter-end price, since a 13F gives no trade prices. Percentages are the position's share of the portfolio, before and after.
- Bp Plc~$827.8MSold out · 8.5% → 0.0%−33,938,127 shares
- Boeing Co~$713.7MSold out · 7.3% → 0.0%−4,785,281 shares
- Citigroup Inc~$522.0MSold out · 5.3% → 0.0%−12,392,668 shares
- Meta~$521.9MSold out · 5.3% → 0.0%−3,128,653 shares
- Marriott Intl Inc New~$513.9MSold out · 5.3% → 0.0%−6,869,816 shares
- Walt Disney Company (The)~$495.8MSold out · 5.1% → 0.0%−5,132,522 shares
- Bk Of America Corp~$487.6MSold out · 5.0% → 0.0%−22,966,034 shares
- Royal Dutch Shell Plc~$483.6MSold out · 4.9% → 0.0%−13,861,948 shares
- Cisco~$311.7MCut · 5.0% → 2.7%−6,682,237 shares
- Canadian Nat Res Ltd~$226.3MCut · 4.2% → 2.9%−12,985,880 shares
Holdings
As of Jun 30, 2020. Changes are in shares against Mar 31, 2020, so a price move alone never reads as a buy or a sale.
| Holding | Value | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Select Sector SPDR TrRL EST SEL SEC · shares New | 27.6% | $2.79B | — | ||||||||
| UberCOM · shares 0% · price +11.3% | 22.4% | $2.26B | +$230.2M | ||||||||
| Select Sector SPDR TrSBI INT-UTILS · shares New | 18.4% | $1.86B | — | ||||||||
| Suncor Energy Inc NewCOM · shares +67% · price +6.7% | 8.5% | $859.4M | +$32.3M | ||||||||
| Carnival CorpUNIT 99/99/9999 · shares +47% · price +24.7% | 8.2% | $834.6M | +$112.7M | ||||||||
| Live Nation Entertainment InCOM · shares +37% · price −2.5% | 5.5% | $557.0M | −$10.3M | ||||||||
| Canadian Nat Res LtdCOM · shares −43% · price +28.6% | 2.9% | $298.7M | +$66.5M | ||||||||
| CiscoCOM · shares −54% · price +18.6% | 2.7% | $270.8M | +$42.6M | ||||||||
| Automatic Data ProcessingCOM · shares +158% · price +8.9% | 2.2% | $220.6M | +$7.0M | ||||||||
| Union Pac CorpCOM · shares −2.8% · price +19.9% | 0.91% | $91.8M | +$15.2M | ||||||||
| Berkshire Hathaway Inc DelCL B NEW · shares −49% · price −2.4% | 0.39% | $39.1M | −$945,146 | ||||||||
| Booking Holdings IncCOM · shares −63% · price +18.4% | 0.34% | $34.3M | +$5.3M | ||||||||
| Total · 12 positions | 100% | $10.12B | +$500.5M |
Price is a stock's reported value over its shares at the quarter end. The estimated gain is the shares held at both quarter ends times the change in that price: shares bought or sold during the quarter add nothing, options are left out, and a stock split is read into the earlier share count and price.
What made money
From Q1 2020 to Q2 2020: 10 stocks held throughout, up $500.5M (+12.3%).
- Uber+$230.2M+11%
- Carnival Corp+$112.7M+25%
- Canadian Nat Res Ltd+$66.5M+29%
- Cisco+$42.6M+19%
- Suncor Energy Inc New+$32.3M+7%
- Berkshire Hathaway Inc Del−$945,146−2%
- Live Nation Entertainment In−$10.3M−2%
Estimated as in the holdings table: shares held at both quarter ends times the change in price; options left out.
Reported value by quarter
The total value of each quarter's 13F at that quarter end. It moves with prices as well as with buying and selling. Pick a quarter to see what the fund held then.
Every quarter's filing
| Quarter | Reported value | Filing | |
|---|---|---|---|
| Q2 2026 | Aug 14, 2026 | $37.91B+216% | SEC ↗ |
| Q1 2026 | Aug 14, 2026 (amended) | $12.01B−7% | SEC ↗ |
| Q4 2025 | Feb 17, 2026 | $12.95B−33% | SEC ↗ |
| Q3 2025 | Nov 14, 2025 | $19.37B−19% | SEC ↗ |
| Q2 2025 | Aug 14, 2025 | $23.81B−7% | SEC ↗ |
| Q1 2025 | May 15, 2025 | $25.55B−5% | SEC ↗ |
| Q4 2024 | Feb 14, 2025 | $26.77B+0% | SEC ↗ |
| Q3 2024 | Nov 14, 2024 | $26.75B+29% | SEC ↗ |
| Q2 2024 | Aug 14, 2024 (amended) | $20.73B+1% | SEC ↗ |
| Q1 2024 | May 15, 2024 | $20.55B−42% | SEC ↗ |
| Q4 2023 | Feb 14, 2024 | $35.24B−3% | SEC ↗ |
| Q3 2023 | Nov 14, 2023 | $36.48B−6% | SEC ↗ |
| Q2 2023 | Aug 14, 2023 | $38.93B+10% | SEC ↗ |
| Q1 2023 | May 15, 2023 | $35.52B+15% | SEC ↗ |
| Q4 2022 | Feb 14, 2023 | $30.94B−16% | SEC ↗ |
| Q3 2022 | Nov 14, 2022 | $36.82B−11% | SEC ↗ |
| Q2 2022 | Dec 22, 2022 (amended) | $41.16B−6% | SEC ↗ |
| Q1 2022 | Dec 22, 2022 (amended) | $43.96B−22% | SEC ↗ |
| Q4 2021 | Feb 14, 2022 (amended) | $56.65B+29% | SEC ↗ |
| Q3 2021 | Nov 15, 2021 (amended) | $43.80B+175% | SEC ↗ |
| Q2 2021 | Aug 16, 2021 | $15.94B+3% | SEC ↗ |
| Q1 2021 | May 17, 2021 | $15.45B+21% | SEC ↗ |
| Q4 2020 | Feb 16, 2021 (amended) | $12.77B+81% | SEC ↗ |
| Q3 2020 | Nov 16, 2020 | $7.05B−30% | SEC ↗ |
| Q2 2020 | Aug 14, 2020 | $10.12B+4% | SEC ↗ |
| Q1 2020 | May 15, 2020 | $9.78B+348% | SEC ↗ |
| Q4 2019 | Feb 4, 2020 | $2.18B−48% | SEC ↗ |
| Q3 2019 | Oct 21, 2019 | $4.21B−19% | SEC ↗ |
| Q2 2019 | Aug 6, 2019 | $5.23B+126% | SEC ↗ |
| Q1 2019 | May 13, 2019 | $2.32B−16% | SEC ↗ |
| Q4 2018 | Feb 13, 2019 | $2.75B | SEC ↗ |