13F filer · CIK 1767640 ↗

Public Investment Fund

Yasir Al-RumayyanGovernor

You are looking at Q1 2022. See the latest, Q2 2026 →

Reported value

$43.96B

−22% on the quarter before

Positions

2 new · 0 sold out

Top 10

92.6%

of the value

Est. gain

−$13.42B

on stocks held all quarter

Est. return

−23.9%

on those stocks since Q4 2021

Filed

Dec 22, 2022 (amended)

On SEC EDGAR ↗

Positions as of Mar 31, 2022, 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 Q4 2021. Striped tiles are options.

Lucid Group Inc59%

Activision Blizzard Inc6.9%

Uber5.9%

Select Sector SPDR Tr5.6%

Electronic Arts Inc4.1%

Take-Two Interactive Softwar4.0%

Live Nation Entertainment In3.4%

Carnival Corp2.3%

14 others1.8%

0.9%

0.8%0.8%0.7%

0.6%

0.5%

Lucid Group Inc59%

Activision Blizzard Inc6.9%

Uber5.9%

Select Sector SPDR Tr5.6%

Electronic Arts Inc4.1%

Take-Two Interactive Softwar4.0%

Live Nation Entertainment In3.4%

Carnival Corp2.3%

14 others1.8%

0.9%

0.8%0.8%0.7%

0.6%

0.5%

Largest buys

Since Q4 2021, 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.

Take-Two Interactive Softwar~$887.8MAdded · 1.8% → 4.0%+5,774,680 shares
Meta~$93.1MNew · 0.0% → 0.2%+418,663 shares
Alibaba~$36.8MAdded · 0.1% → 0.3%+338,609 shares
Sea~$28.7MNew · 0.0% → 0.1%+239,441 shares
PayPal~$27.0MAdded · 0.2% → 0.2%+233,195 shares

Largest sells

Since Q4 2021, 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.

Walmart Inc~$129.2MCut · 0.4% → 0.3%−867,763 shares
Plug Power Inc~$118.9MCut · 0.5% → 0.4%−4,156,440 shares
Visa Inc.~$73.2MCut · 0.7% → 0.7%−330,006 shares
Just Eat Takeaway Com N V~$0.00Cut · 0.1% → 0.0%−2,750,980 shares

Holdings

As of Mar 31, 2022. Changes are in shares against Dec 31, 2021, so a price move alone never reads as a buy or a sale.

Positions, sorted by share of the portfolio
#	Holding		% prev	Value	Shares		Price	Prev price
1	Lucid Group IncCOM · shares 0% · price −33.2%	58.7%	68.2%	$25.79B	1.02B	0%	$25.40	$38.05	−33.2%	−$12.84B
2	Activision Blizzard IncCOM · shares 0% · price +20.4%	6.9%	4.4%	$3.03B	37.9M	0%	$80.11	$66.53	+20.4%	+$514.3M
3	UberCOM · shares 0% · price −14.9%	5.9%	5.4%	$2.60B	72.8M	0%	$35.68	$41.93	−14.9%	−$455.3M
4	Select Sector SPDR TrSBI INT-UTILS · shares 0% · price +4.0%	5.6%	4.2%	$2.46B	33.0M	0%	$74.46	$71.58	+4.0%	+$95.0M
5	Electronic Arts IncCOM · shares 0% · price −4.1%	4.1%	3.3%	$1.80B	14.2M	0%	$126.51	$131.90	−4.1%	−$76.6M
6	Take-Two Interactive SoftwarCOM · shares +102% · price −13.5%	4.0%	1.8%	$1.75B	11.4M	+102%	$153.74	$177.72	−13.5%	−$135.2M
7	Live Nation Entertainment InCOM · shares 0% · price −1.7%	3.4%	2.7%	$1.48B	12.6M	0%	$117.64	$119.69	−1.7%	−$25.8M
8	Carnival CorpCOMMON STOCK · shares 0% · price +9.4%	2.3%	1.7%	$1.03B	50.8M	0%	$20.22	$18.49	+9.4%	+$87.9M
9	Linde PlcSHS · shares 0% · price −7.8%	0.88%	0.74%	$386.0M	1.2M	0%	$319.43	$346.43	−7.8%	−$32.6M
10	CumminsCOM · shares 0% · price −6.0%	0.84%	0.69%	$369.3M	1.8M	0%	$205.11	$218.14	−6.0%	−$23.5M
11	Automatic Data ProcessingCOM · shares 0% · price −7.7%	0.77%	0.65%	$337.2M	1.5M	0%	$227.54	$246.58	−7.7%	−$28.2M
12	Visa Inc.COM CL A · shares −19% · price +2.3%	0.72%	0.67%	$316.9M	1.4M	−19%	$221.77	$216.71	+2.3%	+$7.2M
13	Fedex CorpCOM · shares 0% · price −10.5%	0.59%	0.51%	$260.9M	1.1M	0%	$231.39	$258.64	−10.5%	−$30.7M
14	Multiplan CorporationCOM · shares 0% · price +5.6%	0.55%	0.40%	$239.8M	51.3M	0%	$4.68	$4.43	+5.6%	+$12.8M
15	Air Prods & Chems IncCOM · shares 0% · price −17.9%	0.41%	0.39%	$181.8M	727,340	0%	$249.91	$304.26	−17.9%	−$39.5M
16	Plug Power IncCOM NEW · shares −42% · price +1.3%	0.37%	0.49%	$162.2M	5.7M	−42%	$28.61	$28.23	+1.3%	+$2.2M
17	Avery Dennison CorpCOM · shares 0% · price −19.7%	0.34%	0.32%	$147.6M	848,657	0%	$173.97	$216.57	−19.7%	−$36.2M
18	Babylon Hldgs LtdCL A SHS · shares 0% · price −33.3%	0.31%	0.36%	$137.7M	35.4M	0%	$3.89	$5.83	−33.3%	−$68.7M
19	PrologisCOM · shares 0% · price −4.1%	0.30%	0.24%	$131.6M	814,724	0%	$161.48	$168.36	−4.1%	−$5.6M
20	Novagold Res IncCOM NEW · shares 0% · price +12.7%	0.28%	0.20%	$124.7M	16.1M	0%	$7.73	$6.86	+12.7%	+$14.0M
21	Walmart IncCOM · shares −52% · price +2.9%	0.27%	0.42%	$117.7M	790,237	−52%	$148.92	$144.69	+2.9%	+$3.3M
22	Ballard Pwr Sys Inc NewCOM · shares 0% · price −7.3%	0.26%	0.22%	$113.0M	9.7M	0%	$11.64	$12.56	−7.3%	−$8.9M
23	AlibabaSPONSORED ADS · shares +49% · price −8.4%	0.26%	0.15%	$112.7M	1.0M	+49%	$108.80	$118.79	−8.4%	−$7.0M
24	PayPalCOM · shares +34% · price −38.7%	0.24%	0.23%	$105.3M	910,929	+34%	$115.65	$188.58	−38.7%	−$49.4M
25	Pinterest IncCL A · shares 0% · price −32.3%	0.23%	0.26%	$99.7M	4.1M	0%	$24.61	$36.35	−32.3%	−$47.6M
	Total · 38 positions	100%		$43.96B						−$13.42B

The filing on SEC EDGAR ↗

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 Q4 2021 to Q1 2022: 34 stocks held throughout, down $13.42B (−23.9%).

Activision Blizzard Inc+$514.3M+20%
Select Sector SPDR Tr+$95.0M+4%
Carnival Corp+$87.9M+9%
Novagold Res Inc+$14.0M+13%
Multiplan Corporation+$12.8M+6%
Electronic Arts Inc−$76.6M−4%
Shopify Inc−$87.7M−51%
Take-Two Interactive Softwar−$135.2M−13%
Uber−$455.3M−15%
Lucid Group Inc−$12.84B−33%

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.

$60.00B$30.00B$0

Q4 201831 quartersQ2 2026

Every quarter's filing

Each quarter's 13F filing, newest first
Quarter	Filed	Reported value	Positions	Filing
Q2 2026	Aug 14, 2026	$37.91B+216%	5	SEC ↗
Q1 2026	Aug 14, 2026 (amended)	$12.01B−7%	4	SEC ↗
Q4 2025	Feb 17, 2026	$12.95B−33%	5	SEC ↗
Q3 2025	Nov 14, 2025	$19.37B−19%	6	SEC ↗
Q2 2025	Aug 14, 2025	$23.81B−7%	57	SEC ↗
Q1 2025	May 15, 2025	$25.55B−5%	64	SEC ↗
Q4 2024	Feb 14, 2025	$26.77B+0%	62	SEC ↗
Q3 2024	Nov 14, 2024	$26.75B+29%	54	SEC ↗
Q2 2024	Aug 14, 2024 (amended)	$20.73B+1%	39	SEC ↗
Q1 2024	May 15, 2024	$20.55B−42%	38	SEC ↗
Q4 2023	Feb 14, 2024	$35.24B−3%	50	SEC ↗
Q3 2023	Nov 14, 2023	$36.48B−6%	52	SEC ↗
Q2 2023	Aug 14, 2023	$38.93B+10%	51	SEC ↗
Q1 2023	May 15, 2023	$35.52B+15%	52	SEC ↗
Q4 2022	Feb 14, 2023	$30.94B−16%	53	SEC ↗
Q3 2022	Nov 14, 2022	$36.82B−11%	53	SEC ↗
Q2 2022	Dec 22, 2022 (amended)	$41.16B−6%	54	SEC ↗
Q1 2022	Dec 22, 2022 (amended)	$43.96B−22%	38	SEC ↗
Q4 2021	Feb 14, 2022 (amended)	$56.65B+29%	36	SEC ↗
Q3 2021	Nov 15, 2021 (amended)	$43.80B+175%	33	SEC ↗
Q2 2021	Aug 16, 2021	$15.94B+3%	13	SEC ↗
Q1 2021	May 17, 2021	$15.45B+21%	13	SEC ↗
Q4 2020	Feb 16, 2021 (amended)	$12.77B+81%	12	SEC ↗
Q3 2020	Nov 16, 2020	$7.05B−30%	7	SEC ↗
Q2 2020	Aug 14, 2020	$10.12B+4%	12	SEC ↗
Q1 2020	May 15, 2020	$9.78B+348%	24	SEC ↗
Q4 2019	Feb 4, 2020	$2.18B−48%	2	SEC ↗
Q3 2019	Oct 21, 2019	$4.21B−19%	2	SEC ↗
Q2 2019	Aug 6, 2019	$5.23B+126%	2	SEC ↗
Q1 2019	May 13, 2019	$2.32B−16%	1	SEC ↗
Q4 2018	Feb 13, 2019	$2.75B	1	SEC ↗