13F filer · CIK 1767640 ↗
Public Investment Fund
You are looking at Q1 2025. See the latest, Q2 2026 →
Reported value
$25.55B
−4.6% on the quarter before
Positions
64
13 new · 11 sold out
Top 10
75.0%
of the value
Est. gain
+$177.1M
on stocks held all quarter
Est. return
+0.9%
on those stocks since Q4 2024
Positions as of Mar 31, 2025, 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 2024. Striped tiles are options.
Largest buys
Since Q4 2024, 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.
- Stryker CorporationCALL~$116.9MNew · 0.0% → 0.5%+314,000 underlying
- Hca Healthcare IncCALL~$104.1MNew · 0.0% → 0.4%+301,400 underlying
- Zoetis IncCALL~$99.9MAdded · 0.1% → 0.5%+607,000 underlying
- Asml Holding N VCALL~$80.4MNew · 0.0% → 0.3%+121,300 underlying
- Amazon~$76.4MAdded · 0.7% → 0.9%+401,344 shares
- Bank America CorpCALL~$76.3MNew · 0.0% → 0.3%+1,828,900 underlying
- S&P Global IncCALL~$74.7MNew · 0.0% → 0.3%+147,100 underlying
- Chubb LimitedCALL~$71.4MNew · 0.0% → 0.3%+236,500 underlying
- Walmart IncCALL~$70.2MNew · 0.0% → 0.3%+800,000 underlying
- Boston Scientific CorpCALL~$66.8MNew · 0.0% → 0.3%+661,700 underlying
Largest sells
Since Q4 2024, 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.
- Starbucks CorpCALL~$587.4MCut · 3.9% → 2.1%−5,988,100 underlying
- Booking Holdings IncCALL~$443.2MCut · 2.7% → 0.9%−96,200 underlying
- PayPalCALL~$240.6MCut · 2.3% → 0.9%−3,686,800 underlying
- MetaCALL~$194.0MCut · 0.8% → 0.1%−336,600 underlying
- Arm Holdings PlcCALL~$94.7MCut · 4.5% → 3.7%−887,000 underlying
- AmazonCALL~$83.8MCut · 2.3% → 1.8%−440,300 underlying
- Pfizer IncCALL~$46.2MSold out · 0.2% → 0.0%−1,739,600 underlying
- Pinterest Inc~$43.5MCut · 0.6% → 0.5%−1,404,405 shares
- Meta~$41.5MCut · 1.6% → 1.5%−72,017 shares
- SalesforceCALL~$39.9MCut · 3.1% → 2.4%−148,600 underlying
Holdings
As of Mar 31, 2025. Changes are in shares against Dec 31, 2024, so a price move alone never reads as a buy or a sale.
| Holding | Value | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| UberCOM · shares 0% · price +20.8% | 20.8% | $5.31B | +$913.4M | ||||||||
| Lucid Group IncCOM · shares 0% · price −19.9% | 16.8% | $4.29B | −$1.06B | ||||||||
| Electronic Arts IncCOM · shares 0% · price −1.2% | 14.0% | $3.59B | −$44.2M | ||||||||
| Take-Two Interactive SoftwarCOM · shares 0% · price +12.6% | 9.3% | $2.37B | +$264.5M | ||||||||
| Arm Holdings PlcCALLSPONSORED ADS · shares −9.1% | 3.7% | $950.8M | — | ||||||||
| SalesforceCALLCOM · shares −6.1% | 2.4% | $617.3M | — | ||||||||
| Linde PlcSHS · shares 0% · price +11.2% | 2.2% | $562.7M | +$56.8M | ||||||||
| Starbucks CorpCALLCOM · shares −53% | 2.1% | $527.5M | — | ||||||||
| CumminsCOM · shares 0% · price −10.1% | 2.0% | $513.7M | −$57.6M | ||||||||
| AmazonCALLCOM · shares −16% | 1.8% | $452.5M | — | ||||||||
| MicrosoftCALLCOM · shares −4.3% | 1.6% | $416.3M | — | ||||||||
| AMDCALLCOM · shares +12% | 1.6% | $399.0M | — | ||||||||
| MetaCL A · shares −9.7% · price −1.6% | 1.5% | $385.0M | −$6.1M | ||||||||
| AdobeCALLCOM · shares −2.9% | 1.4% | $368.7M | — | ||||||||
| Air Prods & Chems IncCOM · shares +4.5% · price +1.7% | 1.0% | $260.0M | +$4.1M | ||||||||
| PayPalCALLCOM · shares −50% | 0.94% | $239.4M | — | ||||||||
| Visa Inc.COM CL A · shares 0% · price +10.9% | 0.92% | $235.9M | +$23.2M | ||||||||
| Booking Holdings IncCALLCOM · shares −66% | 0.91% | $232.2M | — | ||||||||
| AmazonCOM · shares +50% · price −13.3% | 0.89% | $228.4M | −$23.3M | ||||||||
| AlibabaSPONSORED ADS · shares 0% · price +55.9% | 0.83% | $213.0M | +$76.4M | ||||||||
| PDD HoldingsSPONSORED ADS · shares 0% · price +22.0% | 0.79% | $201.6M | +$36.4M | ||||||||
| PrologisCOM · shares 0% · price +5.8% | 0.68% | $173.5M | +$9.5M | ||||||||
| NvidiaCALLCOM · shares 0% | 0.67% | $172.3M | — | ||||||||
| DoorDashCL A · shares +68% · price +9.0% | 0.59% | $150.1M | +$7.3M | ||||||||
| Zoetis IncCALLCL A · shares +314% | 0.52% | $131.8M | — | ||||||||
| Total · 64 positions | 100% | $25.55B | +$177.1M |
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 2024 to Q1 2025: 26 stocks held throughout, up $177.1M (+0.9%).
- Uber+$913.4M+21%
- Take-Two Interactive Softwar+$264.5M+13%
- Alibaba+$76.4M+56%
- Linde Plc+$56.8M+11%
- PDD Holdings+$36.4M+22%
- Amazon−$23.3M−13%
- PayPal−$35.4M−24%
- Electronic Arts Inc−$44.2M−1%
- Cummins−$57.6M−10%
- Lucid Group Inc−$1.06B−20%
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 ↗ |