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Saudi Arabia’s sovereign wealth fund ceded its shares in some of the world’s largest corporations to more publicly traded budgets this quarter of the year, according to a stock from the Securities and Exchange Commission.
The composition of the equity fund had been particularly replaced since the first quarter, with a higher concentration in ETFs, which are a basket of low-priced stocks and other stocks that increase diversification. He bought real estate ETFs and focused on utilities in the quarter, showed a deposit of 13F.
The fund invested $1.860 million in The Utilities Select Sector SPDR Fund and $2.79 billion in The Real Estate Select Sector SPDR Fund, for record.
THE PIF holdings in ETFs and U.S. stocks totaled more than $10 billion, up from $8.76 billion at the end of the first quarter of this year.
The wealth fund has invested more than $1 billion in individual stakes in multinational giants such as Boeing, Facebook, Marriott International and Walt Disney.
He sold about 50%, or 210,222 shares, in Warren Buffett’s Berkshire Hathaway.
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PIF had invested billions of dollars in these giant U.S. corporations in the first quarter in an effort to diversify its economy away from oil, a move designed to capitalize on the sale of coronavirus to buy shares at prices.
The SEC presentation showed that PIF had also offded positions at US banks Citigroup and Bank of America, and on European power company Shell, BP and Total.
The fund is involved in the Carnival cruise line and event promoter Live Nation Entertainment.
Oil revenues accounted for 77% of the country’s total revenue, however, the kingdom’s crude oil exports plummeted through $12 billion in a month without getting married this year, as low record-record damage income.
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