Public Investment Fund (PIF) reduces its holdings in US equities in Q4 2025
Saudi Arabia’s Public Investment Fund (PIF) reduced its holdings in US equities to $12.9 billion in Q4 2025 from $19.4 billion in Q3 2025, according to a US Securities and Exchange Commission (SEC) filing. 
The fund maintained its holdings in five firms: Lucid Group, Electronic Arts, Uber, Allurion Technologies, and Clarivate.
The fund’s stake in Take-Two Interactive was fully divested. It also transferred its 11.4 million shares in Take-Two Interactive to a company wholly owned by Savvy, according to a previous disclosure to the SEC in December 2025.
PIF’s Holdings in US Stocks
Company
Symbol
Q3 Holdings (mln)
Q4 Holdings (mln
Change (mln)
Q3 Value ($ mln)
Q4 Value ($ mln)
Change ($ mln)
Lucid Group
LCID
177.1
177.1
—
4212.9
1871.8
(2341.1)
Electronic Arts
EA
24.8
24.8
—
5003.8
5069
65.2
Uber
UBER
72.8
72.8
—
7136.2
5951.8
(1184.4)
Take-Two Interactive*
TTWO
11.4
—
(11.4)
2949.1
—
—
Allurion Technologies
ALUR
1.1
1.1
—
0.03
0.02
(0.01)
Clarivate
CTEV
1.3
1.3
—
68
54.8
(13.2)
*PIF transferred its shares in Take-Two Interactive to a company wholly owned by Savvy
Public Investment Fund (PIF) reduces its holdings in US equities in Q4 2025
Saudi Arabia’s Public Investment Fund (PIF) reduced its holdings in US equities to $12.9 billion in Q4 2025 from $19.4 billion in Q3 2025, according to a US Securities and Exchange Commission (SEC) filing.
The fund maintained its holdings in five firms: Lucid Group, Electronic Arts, Uber, Allurion Technologies, and Clarivate.
The fund’s stake in Take-Two Interactive was fully divested. It also transferred its 11.4 million shares in Take-Two Interactive to a company wholly owned by Savvy, according to a previous disclosure to the SEC in December 2025.
PIF’s Holdings in US Stocks
Company
Symbol
Q3 Holdings (mln)
Q4 Holdings (mln
Change (mln)
Q3 Value ($ mln)
Q4 Value ($ mln)
Change ($ mln)
Lucid Group
LCID
177.1
177.1
—
4212.9
1871.8
(2341.1)
Electronic Arts
EA
24.8
24.8
—
5003.8
5069
65.2
Uber
UBER
72.8
72.8
—
7136.2
5951.8
(1184.4)
Take-Two Interactive*
TTWO
11.4
—
(11.4)
2949.1
—
—
Allurion Technologies
ALUR
1.1
1.1
—
0.03
0.02
(0.01)
Clarivate
CTEV
1.3
1.3
—
68
54.8
(13.2)
*PIF transferred its shares in Take-Two Interactive to a company wholly owned by Savvy
