In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 15, 2024), Public Investment Fund reported 25 stock positions worth $18.0 billion . Its top holding was Uber Technologies (UBER) at 31.2% of the portfolio, followed by Lucid (LCID, 21.8% ) and Electronic Arts (EA, 18.3% ). Compared with Q4 2023, it opened 1 new position, sold out of 24, added to 4 and reduced 5. The biggest buy was Pinterest Class A (PINS, shares +14% ) and the biggest sale an exit from St Sr Utl SL SE SPDR ETF-Usd (XLU).
Location AL AQIQ DISTRICT, RIYADH, T0
CIK 0001767640
Portfolio Value $18.0B (Q1 2024) Holdings 25 stocks · $18.0B Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q4 2023 UBER Uber Technologies Inc. 72,840,541 $5.6B No change LCID Lucid Group Inc. 1,374,700,298 $3.9B No change EA Electronic Arts Inc. 24,807,932 $3.3B No change TTWO Take-Two Interactive Softwre 11,414,680 $1.7B No change LIN Linde PLC 1,208,396 $561.1M No change CMI Cummins Inc. 1,800,301 $530.5M No change META Meta Platforms Inc. Class A 740,013 $359.3M Reduce -77.3% V Visa Inc. Class A 908,715 $253.6M Reduce -4.8% APD Air Products & Chemicals Inc. 843,539 $204.4M Reduce -69.3% PDD PDD Holdings Inc. 1,703,275 $198.0M No change PINS Pinterest Inc. Class A 5,532,193 $191.8M Add +13.9% FDX FedEx Corp. 632,414 $183.2M No change PLD Prologis Inc. 1,154,212 $150.3M No change AVY Avery Dennison Corp. 655,056 $146.2M No change PYPL PayPal Holdings Inc. 1,759,249 $117.9M Reduce -76.5% BABA Alibaba Group Holding-SP ADR 1,610,654 $116.5M Add +10.5% WMT Walmart Inc. 1,905,531 $114.7M Reduce -19.6% SHOP Shopify Inc. Class A 1,250,000 $96.5M No change ONC Beone Medicines Ltd.-ADR filed as BEIGENE LTD 354,385 $55.4M No change SE Sea Ltd.-ADR 833,335 $44.8M No change ZGN Ermenegildo Zegna NV 2,946,074 $43.2M Add +32.2% MULTIPLAN CORP 51,250,000 $41.6M No change BE Bloom Energy Corp. Class A 3,257,398 $36.6M Add +205.1% BLDP Ballard Power Systems Inc. 7,046,900 $19.6M No change NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD 1,176,980 $14.0M New
Options reported separately and not counted above: ARM calls ($453.1M), SBUX calls ($348.6M), BKNG calls ($281.9M), AMZN calls ($276.6M), ADBE calls ($223.2M), AMD calls ($194.4M), CRM calls ($152.7M), MSFT calls ($143.8M), NVDA calls ($143.7M), META calls ($130.3M), GOOGL calls ($117.8M), PYPL calls ($92.7M).
Other holdings (1): bonds, preferreds, convertibles and warrants · $290K (not counted above) Security Class Shares / Principal Value Change ALURW Allurion Technologies-28 *W EXP 08/01/203 1,148,436 $290K No change
Total filed on the 13F, all lines: $18.0B.
Portfolio Sells Q4 2023 → Q1 2024 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2023 % Of Portfolio Change To Portfolio ▲ XLU St Sr Utl SL SE SPDR ETF-Usd Sold out 0.00% −5.93 LYV Live Nation Entertainment Inc. Sold out 0.00% −3.34 CCL Carnival Corp. Sold out 0.00% −2.67 BKNG Booking Holdings Inc. Sold out 0.00% −2.15 CRM Salesforce Inc. Sold out 0.00% −1.98 MSFT Microsoft Corp. Sold out 0.00% −1.97 AMD Advanced Micro Devices Sold out 0.00% −1.97 ADBE Adobe Inc. Sold out 0.00% −1.94 COST Costco Wholesale Corp. Sold out 0.00% −1.94 JPM JPMorgan Chase & Co. Sold out 0.00% −1.86 AMZN Amazon.com Inc. Sold out 0.00% −1.75 SBUX Starbucks Corp. Sold out 0.00% −1.72 BLK BlackRock Finance Inc. Sold out 0.00% −1.71 GOOGL Alphabet Inc. Class A Sold out 0.00% −1.69 HD Home Depot Inc. Sold out 0.00% −1.61 FCX Freeport-McMoran Inc. Sold out 0.00% −1.56 DDOG Datadog Inc. Class A Sold out 0.00% −1.55 META Meta Platforms Inc. Class A Reduce -77.3% 2.00% −1.28 AMT American Tower Corp. Sold out 0.00% −1.16 NEE Nextera Energy Inc. Sold out 0.00% −1.10 APD Air Products & Chemicals Inc. Reduce -69.3% 1.14% −1.00 ADP Automatic Data Processing Sold out 0.00% −0.98 ZM Zoom Communications Inc. Sold out 0.00% −0.96 PYPL PayPal Holdings Inc. Reduce -76.5% 0.66% −0.65 NG Novagold Resources Inc. Sold out 0.00% −0.17 CPNG Coupang Inc. Sold out 0.00% −0.13 SSUNF Signa Sports United NV Sold out 0.00% −0.00 WMT Walmart Inc. Reduce -19.6% 0.64% +0.28 V Visa Inc. Class A Reduce -4.8% 1.41% +0.70
Portfolio Buys Q4 2023 → Q1 2024 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2023 % Of Portfolio Change To Portfolio ▼ PINS Pinterest Inc. Class A Add +13.9% 1.07% +0.56 BABA Alibaba Group Holding-SP ADR Add +10.5% 0.65% +0.33 ZGN Ermenegildo Zegna NV Add +32.2% 0.24% +0.17 BE Bloom Energy Corp. Class A Add +205.1% 0.20% +0.16 NU Nu Holdings Ltd./Cayman Isl-A New 0.08% +0.08
Options Activity Q4 2023 → Q1 2024 Security Type Change vs Q4 2023 Underlying Shares Value ▼ ARM Arm Holdings PLC-ADR call New 3,625,300 $453.1M SBUX Starbucks Corp. call New 3,814,800 $348.6M BKNG Booking Holdings Inc. call New 77,700 $281.9M AMZN Amazon.com Inc. call New 1,533,400 $276.6M ADBE Adobe Inc. call New 442,400 $223.2M AMD Advanced Micro Devices call New 1,077,300 $194.4M CRM Salesforce Inc. call New 507,000 $152.7M MSFT Microsoft Corp. call New 341,900 $143.8M NVDA Nvidia Corp. call New 159,000 $143.7M META Meta Platforms Inc. Class A call New 268,300 $130.3M GOOGL Alphabet Inc. Class A call New 780,800 $117.8M PYPL PayPal Holdings Inc. call New 1,383,700 $92.7M
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q4 2023 → Q1 2024 Security Class Change vs Q4 2023 Shares / Principal Value ▼ MULTIPLAN CORPORATION *W EXP 02/13/202 Sold out 2,500,000 $25Kbefore exit
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 5 $37.9B SPCX, UBER, EA, LCID, CTEV Q1 2026 Amended 4 $12.0B UBER, EA, LCID, CTEV Q4 2025 4 $12.9B UBER, EA, LCID, CTEV Q3 2025 5 $19.4B UBER, EA, LCID, TTWO, CTEV Q2 2025 14 $18.1B UBER, EA, LCID, TTWO, CMI Q1 2025 25 $19.5B UBER, LCID, EA, TTWO, LIN Q4 2024 26 $19.2B LCID, UBER, EA, TTWO, CMI Q3 2024 26 $19.5B UBER, LCID, EA, TTWO, LIN Q2 2024 Amended 26 $17.6B UBER, LCID, EA, TTWO, LIN Q1 2024 25 $18.0B UBER, LCID, EA, TTWO, LIN