In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Public Investment Fund reported 5 stock positions worth $19.4 billion . Its top holding was Uber Technologies (UBER) at 36.8% of the portfolio, followed by Electronic Arts (EA, 25.8% ) and Lucid (LCID, 21.7% ). Compared with Q2 2025, it sold out of 9. The biggest sale was an exit from Cummins (CMI).
Location AL AQIQ DISTRICT, RIYADH, T0
CIK 0001767640
Portfolio Value $19.4B (Q3 2025) Holdings 5 stocks · $19.4B 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 Q2 2025 UBER Uber Technologies Inc. 72,840,541 $7.1B No change EA Electronic Arts Inc. 24,807,932 $5.0B No change LCID Lucid Group Inc. 177,088,867 $4.2B No change TTWO Take-Two Interactive Softwre 11,414,680 $2.9B No change CTEV Claritev Corp. 1,281,250 $68.0M No change
Other holdings (1): bonds, preferreds, convertibles and warrants · $31K (not counted above) Security Class Shares / Principal Value Change ALURW Allurion Technologies-28 *W EXP 08/01/203 1,148,436 $31K No change
Total filed on the 13F, all lines: $19.4B.
Portfolio Sells Q2 2025 → Q3 2025 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 Q2 2025 % Of Portfolio Change To Portfolio ▲ CMI Cummins Inc. Sold out 0.00% −1.98 LIN Linde PLC Sold out 0.00% −1.13 APD Air Products & Chemicals Inc. Sold out 0.00% −0.42 ONC Beone Medicines Ltd.-ADR Sold out 0.00% −0.30 AVY Avery Dennison Corp. Sold out 0.00% −0.22 BE Bloom Energy Corp. Class A Sold out 0.00% −0.20 PDD PDD Holdings Inc. Sold out 0.00% −0.09 PINS Pinterest Inc. Class A Sold out 0.00% −0.04 PLD Prologis Inc. Sold out 0.00% −0.00
Portfolio Buys Q2 2025 → Q3 2025 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 Q2 2025 % Of Portfolio Change To Portfolio ▼ None this quarter.
Options Activity Q2 2025 → Q3 2025 Security Type Change vs Q2 2025 Underlying Shares Value ▼ ARM Arm Holdings PLC-ADR call Sold out 8,967,300 $1.5Bbefore exit UNH Unitedhealth Group Inc. call Sold out 992,400 $309.6Mbefore exit LLY Eli Lilly & Co. call Sold out 352,300 $274.6Mbefore exit NVDA Nvidia Corp. call Sold out 1,210,400 $191.2Mbefore exit VRTX Vertex Pharmaceuticals Inc. call Sold out 427,300 $190.2Mbefore exit MA Mastercard Inc. Class A call Sold out 335,300 $188.4Mbefore exit SCHW Schwab (charles) Corp. call Sold out 2,048,700 $186.9Mbefore exit HD Home Depot Inc. call Sold out 420,400 $154.1Mbefore exit MRK Merck & Co. Inc. call Sold out 1,898,900 $150.3Mbefore exit PDD PDD Holdings Inc. call Sold out 1,343,300 $140.6Mbefore exit NEE Nextera Energy Inc. call Sold out 1,923,400 $133.5Mbefore exit AMD Advanced Micro Devices call Sold out 937,800 $133.1Mbefore exit GOOGL Alphabet Inc. Class A call Sold out 746,900 $131.6Mbefore exit AAPL Apple Inc. call Sold out 640,600 $131.4Mbefore exit NOW ServiceNow Inc. call Sold out 124,200 $127.7Mbefore exit PGR Progressive Corp. call Sold out 457,200 $122.0Mbefore exit AMZN Amazon.com Inc. call Sold out 543,000 $119.1Mbefore exit BKNG Booking Holdings Inc. call Sold out 20,300 $117.5Mbefore exit MELI MercadoLibre Inc. call Sold out 42,500 $111.1Mbefore exit ADBE Adobe Inc. call Sold out 280,500 $108.5Mbefore exit CI The Cigna Group call Sold out 295,800 $97.8Mbefore exit BAC Bank of America Corp. call Sold out 2,000,300 $94.7Mbefore exit GILD Gilead Sciences Inc. call Sold out 840,600 $93.2Mbefore exit AVGO Broadcom Inc. call Sold out 320,400 $88.3Mbefore exit NFLX Netflix Inc. call Sold out 57,900 $77.5Mbefore exit AZN Astrazeneca PLC-Spons ADR call Sold out 1,014,900 $70.9Mbefore exit V Visa Inc. Class A call Sold out 196,700 $69.8Mbefore exit CB Chubb Ltd. call Sold out 236,500 $68.5Mbefore exit AMAT Applied Materials Inc. call Sold out 365,100 $66.8Mbefore exit C Citigroup Inc. call Sold out 735,100 $62.6Mbefore exit ASML ASML Holding NV-NY Reg SHS call Sold out 74,600 $59.8Mbefore exit ADI Analog Devices Inc. call Sold out 207,300 $49.3Mbefore exit MSFT Microsoft Corp. call Sold out 93,500 $46.5Mbefore exit CRM Salesforce Inc. call Sold out 148,200 $40.4Mbefore exit HCA HCA Healthcare Inc. call Sold out 104,500 $40.0Mbefore exit KKR KKR & Co. Inc. call Sold out 285,700 $38.0Mbefore exit JPM JPMorgan Chase & Co. call Sold out 115,700 $33.5Mbefore exit KO The Coca-Cola Co. call Sold out 462,700 $32.7Mbefore exit MCK McKesson Corp. call Sold out 33,200 $24.3Mbefore exit WMT Walmart Inc. call Sold out 247,700 $24.2Mbefore exit CME Cme Group Inc. call Sold out 84,700 $23.3Mbefore exit ICE Intercontinental Exchange Inc. call Sold out 101,600 $18.6Mbefore 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 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