Public Investment Fund
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Public Investment Fund reported 25 stock positions worth $19.5 billion. Its top holding was Uber Technologies (UBER) at 27.2% of the portfolio, followed by Lucid (LCID, 22.0%) and Electronic Arts (EA, 18.4%). Compared with Q4 2024, it sold out of 1, added to 4 and reduced 2. The biggest buy was DoorDash Class A (DASH, shares +68%) and the biggest sale Meta Platforms Class A (META, shares −10%).
- Most Recent 13F
- Q2 2026
- Location
- AL AQIQ DISTRICT, RIYADH, T0
- CIK
- 0001767640
- Portfolio Value
- $19.5B (Q1 2025)
- SEC Filing
- 0001011438-25-000303 ↗ filed May 15, 2025
Holdings Value
Holdings 25 stocks · $19.5B
| UBER Uber Technologies Inc. | 27.23% | 72,840,541 | $5.3B | No change |
| LCID Lucid Group Inc. | 21.99% | 1,770,888,684 | $4.3B | No change |
| EA Electronic Arts Inc. | 18.40% | 24,807,932 | $3.6B | No change |
| TTWO Take-Two Interactive Softwre | 12.14% | 11,414,680 | $2.4B | No change |
| LIN Linde PLC | 2.89% | 1,208,396 | $562.7M | No change |
| CMI Cummins Inc. | 2.64% | 1,638,985 | $513.7M | No change |
| META Meta Platforms Inc. Class A | 1.98% | 667,996 | $385.0M | Reduce -9.7% |
| APD Air Products & Chemicals Inc. | 1.33% | 881,539 | $260.0M | Add +4.5% |
| V Visa Inc. Class A | 1.21% | 673,196 | $235.9M | No change |
| AMZN Amazon.com Inc. | 1.17% | 1,200,559 | $228.4M | Add +50.2% |
| BABA Alibaba Group Holding-SP ADR | 1.09% | 1,610,654 | $213.0M | No change |
| PDD PDD Holdings Inc. | 1.03% | 1,703,275 | $201.6M | No change |
| PLD Prologis Inc. | 0.89% | 1,551,865 | $173.5M | No change |
| DASH DoorDash Inc. Class A | 0.77% | 821,389 | $150.1M | Add +68.3% |
| PINS Pinterest Inc. Class A | 0.66% | 4,127,788 | $128.0M | Reduce -25.4% |
| FDX FedEx Corp. | 0.62% | 498,164 | $121.4M | No change |
| SHOP Shopify Inc. Class A | 0.61% | 1,250,000 | $119.3M | No change |
| AVY Avery Dennison Corp. | 0.60% | 655,056 | $116.6M | No change |
| PYPL PayPal Holdings Inc. | 0.59% | 1,759,249 | $114.8M | No change |
| SE Sea Ltd.-ADR | 0.56% | 833,335 | $108.7M | No change |
| ONC Beone Medicines Ltd.-ADR filed as BEIGENE LTD | 0.49% | 354,385 | $96.5M | No change |
| BE Bloom Energy Corp. Class A | 0.38% | 3,803,770 | $74.8M | Add +16.8% |
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 0.36% | 6,825,796 | $69.9M | No change |
| ZGN Ermenegildo Zegna NV | 0.22% | 5,834,324 | $43.2M | No change |
| CTEV Claritev Corp. | 0.14% | 1,281,250 | $26.4M | No change |
Options reported separately and not counted above: ARM calls ($950.8M), CRM calls ($617.3M), SBUX calls ($527.5M), AMZN calls ($452.5M), MSFT calls ($416.3M), AMD calls ($399.0M), ADBE calls ($368.7M), PYPL calls ($239.4M), BKNG calls ($232.2M), NVDA calls ($172.3M), ZTS calls ($131.8M), GOOGL calls ($120.7M), and 26 more.
Other holdings (1): bonds, preferreds, convertibles and warrants · $33K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| ALURW Allurion Technologies-28 | *W EXP 08/01/203 | 1,148,436 | $33K | No change |
Total filed on the 13F, all lines: $19.5B.
Portfolio Sells Q4 2024 → Q1 2025
Portfolio Buys Q4 2024 → Q1 2025
Options Activity Q4 2024 → Q1 2025
| ARM Arm Holdings PLC-ADR | call | Reduce -9.1% | 8,903,800 | $950.8M |
| CRM Salesforce Inc. | call | Reduce -6.1% | 2,300,100 | $617.3M |
| SBUX Starbucks Corp. | call | Reduce -52.7% | 5,377,300 | $527.5M |
| AMZN Amazon.com Inc. | call | Reduce -15.6% | 2,378,400 | $452.5M |
| MSFT Microsoft Corp. | call | Reduce -4.3% | 1,109,000 | $416.3M |
| AMD Advanced Micro Devices | call | Add +12.1% | 3,883,400 | $399.0M |
| ADBE Adobe Inc. | call | Reduce -2.9% | 961,300 | $368.7M |
| PYPL PayPal Holdings Inc. | call | Reduce -50.1% | 3,669,600 | $239.4M |
| BKNG Booking Holdings Inc. | call | Reduce -65.6% | 50,400 | $232.2M |
| ZTS Zoetis Inc. | call | Add +313.7% | 800,500 | $131.8M |
| GOOGL Alphabet Inc. Class A | call | Reduce -2.0% | 780,800 | $120.7M |
| SYK Stryker Corp. | call | New | 314,000 | $116.9M |
| HCA HCA Healthcare Inc. | call | New | 301,400 | $104.1M |
| ASML ASML Holding NV-NY Reg SHS | call | New | 121,300 | $80.4M |
| BAC Bank of America Corp. | call | New | 1,828,900 | $76.3M |
| SPGI S&P Global Inc. | call | New | 147,100 | $74.7M |
| LRCX Lam Research Corp. | call | Add +629.3% | 1,017,400 | $74.0M |
| CB Chubb Ltd. | call | New | 236,500 | $71.4M |
| WMT Walmart Inc. | call | New | 800,000 | $70.2M |
| BSX Boston Scientific Corp. | call | New | 661,700 | $66.8M |
| CMCSA Comcast Corp. Class A | call | New | 1,755,000 | $64.8M |
| NEE Nextera Energy Inc. | call | New | 913,000 | $64.7M |
| ELV Elevance Health Inc. | call | New | 145,600 | $63.3M |
| SCHW Schwab (charles) Corp. | call | New | 794,700 | $62.2M |
| MELI MercadoLibre Inc. | call | Add +404.8% | 31,800 | $62.0M |
| MCK McKesson Corp. | call | New | 91,100 | $61.3M |
| MU Micron Technology Inc. | call | Add +541.1% | 705,200 | $61.3M |
| UNH Unitedhealth Group Inc. | call | Add +66.5% | 114,900 | $60.2M |
| CI The Cigna Group | call | Add +201.4% | 152,800 | $50.3M |
| PFE Pfizer Inc. | call | Sold out | 1,739,600 | $46.2Mbefore exit |
| ABT Abbott Laboratories | call | Sold out | 343,500 | $38.9Mbefore exit |
| KO The Coca-Cola Co. | call | Reduce -45.1% | 462,700 | $33.1M |
| DHR Danaher Corp. | call | Sold out | 142,000 | $32.6Mbefore exit |
| NKE Nike Inc. Class B | call | Sold out | 423,300 | $32.0Mbefore exit |
| REGN Regeneron Pharmaceuticals | call | Sold out | 37,100 | $26.4Mbefore exit |
| META Meta Platforms Inc. Class A | call | Reduce -89.4% | 39,900 | $23.0M |
| CME Cme Group Inc. | call | Reduce -57.4% | 84,700 | $22.5M |
| ICE Intercontinental Exchange Inc. | call | Reduce -63.2% | 101,600 | $17.5M |
| LLY Eli Lilly & Co. | call | Add +15.9% | 21,100 | $17.4M |
| AZN Astrazeneca PLC-Spons ADR | call | Reduce -12.8% | 230,600 | $16.9M |
| TMUS T-Mobile US Inc. | call | Sold out | 53,500 | $11.8Mbefore exit |
| CRWD CrowdStrike Holdings Inc. Class A | call | Sold out | 33,300 | $11.4Mbefore exit |
| KLAC KLA Corp. | call | Reduce -62.5% | 14,300 | $9.7M |
| TMO Thermo Fisher Scientific Inc. | call | Reduce -71.0% | 19,300 | $9.6M |
| HON Honeywell International Inc. | call | Sold out | 34,100 | $7.7Mbefore exit |
| NFLX Netflix Inc. | call | Sold out | 5,900 | $5.3Mbefore exit |
| LULU Lululemon Athletica Inc. | call | Sold out | 6,300 | $2.4Mbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 5 | $37.9B | SPCX, UBER, EA, LCID, CTEV |
| Q1 2026Amended | 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 2024Amended | 26 | $17.6B | UBER, LCID, EA, TTWO, LIN |
| Q1 2024 | 25 | $18.0B | UBER, LCID, EA, TTWO, LIN |