13F filer · CIK 1767640 ↗
Public Investment Fund
You are looking at Q1 2023. See the latest, Q2 2026 →
Reported value
$35.52B
+15% on the quarter before
Positions
52
2 new · 3 sold out
Top 10
67.7%
of the value
Est. gain
+$3.50B
on stocks held all quarter
Est. return
+11.5%
on those stocks since Q4 2022
Positions as of Mar 31, 2023, 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 2022. Striped tiles are options.
Largest buys
Since Q4 2022, 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.
- Electronic Arts Inc~$1.06BAdded · 6.3% → 8.4%+8,796,088 shares
- Linde Plc~$429.5MNew · 0.0% → 1.2%+1,208,396 shares
- Sea~$51.4MAdded · 0.0% → 0.2%+593,894 shares
- PayPal~$33.3MAdded · 1.6% → 1.6%+438,586 shares
- Bloom Energy~$21.3MNew · 0.0% → 0.1%+1,067,688 shares
- Air Prods & Chems Inc~$5.0MAdded · 2.7% → 2.2%+17,472 shares
Largest sells
Since Q4 2022, 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.
- Linde Plc~$394.2MSold out · 1.3% → 0.0%−1,208,396 shares
- Carnival Corp~$40.3MSold out · 0.1% → 0.0%−40,000,000 shares
- Visa Inc.~$33.0MCut · 0.7% → 0.6%−146,401 shares
- PDD Holdings~$27.9MCut · 0.4% → 0.3%−367,823 shares
- Ballard Pwr Sys Inc New~$14.8MCut · 0.2% → 0.1%−2,663,000 shares
- Farfetch Ltd~$10.0MSold out · 0.0% → 0.0%−2,104,363 shares
Holdings
As of Mar 31, 2023. Changes are in shares against Dec 31, 2022, so a price move alone never reads as a buy or a sale.
| Holding | Value | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Lucid Group IncCOM · shares 0% · price +17.7% | 25.1% | $8.92B | +$1.34B | ||||||||
| Activision Blizzard IncCOM · shares 0% · price +11.8% | 9.1% | $3.24B | +$342.7M | ||||||||
| Electronic Arts IncCOM · shares +55% · price −1.4% | 8.4% | $2.99B | −$27.7M | ||||||||
| UberCOM · shares 0% · price +28.2% | 6.5% | $2.31B | +$507.7M | ||||||||
| Select Sector SPDR TrSBI INT-UTILS · shares 0% · price −4.0% | 6.3% | $2.23B | −$92.7M | ||||||||
| Take-Two Interactive SoftwarCOM · shares 0% · price +14.6% | 3.8% | $1.36B | +$173.2M | ||||||||
| Live Nation Entertainment InCOM · shares 0% · price +0.4% | 2.5% | $879.6M | +$3.3M | ||||||||
| Air Prods & Chems IncCOM · shares +0.7% · price −6.8% | 2.2% | $776.3M | −$56.5M | ||||||||
| MetaCL A · shares 0% · price +76.1% | 1.9% | $691.4M | +$298.8M | ||||||||
| Starbucks CorpCOM · shares 0% · price +5.0% | 1.9% | $657.4M | +$31.1M | ||||||||
| PayPalCOM · shares +6.2% · price +6.6% | 1.6% | $569.3M | +$33.3M | ||||||||
| Booking Holdings IncCOM · shares 0% · price +31.6% | 1.6% | $566.2M | +$136.0M | ||||||||
| MicrosoftCOM · shares 0% · price +20.2% | 1.5% | $532.1M | +$89.5M | ||||||||
| SalesforceCOM · shares 0% · price +50.7% | 1.5% | $529.5M | +$178.1M | ||||||||
| Freeport-McMoRanCL B · shares 0% · price +7.7% | 1.5% | $527.6M | +$37.5M | ||||||||
| Carnival CorpCOMMON STOCK · shares 0% · price +25.9% | 1.5% | $515.9M | +$106.2M | ||||||||
| Costco Whsl Corp NewCOM · shares 0% · price +8.8% | 1.5% | $515.0M | +$41.8M | ||||||||
| Jpmorgan Chase & CoCOM · shares 0% · price −2.8% | 1.4% | $501.8M | −$14.6M | ||||||||
| BlackRockCOM · shares 0% · price −5.6% | 1.4% | $496.3M | −$29.3M | ||||||||
| Nextera Energy IncCOM · shares 0% · price −7.8% | 1.4% | $490.8M | −$41.5M | ||||||||
| Home Depot IncCOM · shares 0% · price −6.6% | 1.4% | $484.6M | −$34.1M | ||||||||
| AMDCOM · shares 0% · price +51.3% | 1.3% | $460.8M | +$156.3M | ||||||||
| AdobeCOM · shares 0% · price +14.5% | 1.2% | $442.1M | +$56.0M | ||||||||
| AlphabetCAP STK CL A · shares 0% · price +17.6% | 1.2% | $441.9M | +$66.0M | ||||||||
| CumminsCOM · shares 0% · price −1.4% | 1.2% | $430.1M | −$6.1M | ||||||||
| Total · 52 positions | 100% | $35.52B | +$3.50B |
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 2022 to Q1 2023: 50 stocks held throughout, up $3.50B (+11.5%).
- Lucid Group Inc+$1.34B+18%
- Uber+$507.7M+28%
- Activision Blizzard Inc+$342.7M+12%
- Meta+$298.8M+76%
- Salesforce+$178.1M+51%
- BlackRock−$29.3M−6%
- Home Depot Inc−$34.1M−7%
- Nextera Energy Inc−$41.5M−8%
- Air Prods & Chems Inc−$56.5M−7%
- Select Sector SPDR Tr−$92.7M−4%
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 ↗ |