Logo ofPublic Investment Fund (PIF)
The Public Investment Fund (PIF) stated that total shareholder return since the launch of the Vision Realization Program (VRP) in September 2017 until the end of 2025 reached 5.8% on an annual basis. 
The fund announced its 2025 annual report, with assets under management (AUMs) reaching SAR 3.396 trillion, including redeemed amounts from other entities totaling SAR 30 billion.
According to the report, the fund’s AUMs declined 1% from SAR 3.434 trillion in 2024.
The fund’s investments were diversified, with domestic and international investments comprising 76% (SAR 2.57 trillion) and 20% (SAR 663 billion) of total assets, respectively, while the Treasury portfolio accounted for the remaining 4% (SAR 133 billion).
Total AUM Distribution (SAR bln)
Type
Value (SAR bn)
Share of Total
International Investments
663
20%
Domestic Investments
2,570
76%
Treasury Portfolio
133
4%
According to the report, investments in Saudi companies accounted for 33% of the fund’s assets, while investments aimed at developing and growing promising sectors represented 29% of the fund’s assets.
PIF’s Gross AUMs
Portfolio
AUMs
(SAR bln)
Asset Distribution 2024
Asset Distribution 2025
Saudi companies investment portfolio
1,108
36%
33%
Promising sectors development and growth investment portfolio
986
31%
29%
International strategic investments portfolio
340
8%
10%
Saudi real estate infrastructure development investment portfolio
249
7%
7%
Saudi giga-projects portfolio
227
6%
7%
International diversified investments portfolio
220
5%
6%
Treasury (non-investment portfolio)
133
2%
4%
Public global markets investment program
104
4%
3%
According to the report, the Saudi companies investment portfolio declined 10% to SAR 1.108 trillion in 2025 compared with 2024.
Development of AUMs (SAR bln)
Portfoliio
2021
2022
2023
2024
2025
Saudi equity holdings
483
718
777
1236
1108
Saudi sector development
318
470
943
1036
986
International strategic investments
390
234
249
277
340
Saudi real estate infrastructure development
170
204
233
239
249
Saudi giga-projects
35
121
241
211
227
International diversified pool
66
109
146
184
220
Treasury (non-investment portfolio)
397
204
72
81
133
International capital markets program
121
169
190
130
104
Total
1,980
2,234
2,871
3,434
3,396
**Includes SAR 20 billion in amounts redeemed from other entities.
***Includes SAR 30 billion in amounts redeemed from other entities.
The fund’s investments were distributed across a wide range of industries in 2025, based on global sector standards.
PIF Investments by Sector
Sector
Percentage
Energy
28%
Real Estate
15%
Communication Services
10%
IT
9%
Financials
6%
Materials
5%
Utilities
4%
Industrials
4%
Consumer Discretionary
2%
Consumer Staples
1%
Healthcare
0.4%
Unclassified**
15%
Logo ofPublic Investment Fund (PIF)
The Public Investment Fund (PIF) stated that total shareholder return since the launch of the Vision Realization Program (VRP) in September 2017 until the end of 2025 reached 5.8% on an annual basis.
The fund announced its 2025 annual report, with assets under management (AUMs) reaching SAR 3.396 trillion, including redeemed amounts from other entities totaling SAR 30 billion.
According to the report, the fund’s AUMs declined 1% from SAR 3.434 trillion in 2024.
The fund’s investments were diversified, with domestic and international investments comprising 76% (SAR 2.57 trillion) and 20% (SAR 663 billion) of total assets, respectively, while the Treasury portfolio accounted for the remaining 4% (SAR 133 billion).
Total AUM Distribution (SAR bln)
Type
Value (SAR bn)
Share of Total
International Investments
663
20%
Domestic Investments
2,570
76%
Treasury Portfolio
133
4%
According to the report, investments in Saudi companies accounted for 33% of the fund’s assets, while investments aimed at developing and growing promising sectors represented 29% of the fund’s assets.
PIF’s Gross AUMs
Portfolio
AUMs
(SAR bln)
Asset Distribution 2024
Asset Distribution 2025
Saudi companies investment portfolio
1,108
36%
33%
Promising sectors development and growth investment portfolio
986
31%
29%
International strategic investments portfolio
340
8%
10%
Saudi real estate infrastructure development investment portfolio
249
7%
7%
Saudi giga-projects portfolio
227
6%
7%
International diversified investments portfolio
220
5%
6%
Treasury (non-investment portfolio)
133
2%
4%
Public global markets investment program
104
4%
3%
According to the report, the Saudi companies investment portfolio declined 10% to SAR 1.108 trillion in 2025 compared with 2024.
Development of AUMs (SAR bln)
Portfoliio
2021
2022
2023
2024
2025
Saudi equity holdings
483
718
777
1236
1108
Saudi sector development
318
470
943
1036
986
International strategic investments
390
234
249
277
340
Saudi real estate infrastructure development
170
204
233
239
249
Saudi giga-projects
35
121
241
211
227
International diversified pool
66
109
146
184
220
Treasury (non-investment portfolio)
397
204
72
81
133
International capital markets program
121
169
190
130
104
Total
1,980
2,234
2,871
3,434
3,396
**Includes SAR 20 billion in amounts redeemed from other entities.
***Includes SAR 30 billion in amounts redeemed from other entities.
The fund’s investments were distributed across a wide range of industries in 2025, based on global sector standards.
PIF Investments by Sector
Sector
Percentage
Energy
28%
Real Estate
15%
Communication Services
10%
IT
9%
Financials
6%
Materials
5%
Utilities
4%
Industrials
4%
Consumer Discretionary
2%
Consumer Staples
1%
Healthcare
0.4%
Unclassified**
15%
