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Saudi wealth fund enhances U.S. holdings with stakes in Citi, Boeing, Facebook

Byindianadmin

May 16, 2020 #Boeing, #Facebook
Saudi wealth fund enhances U.S. holdings with stakes in Citi, Boeing, Facebook

DUBAI/BENGALURU (Reuters) – Saudi Arabia’s sovereign wealth fund has purchased minority stakes in significant American companies including Boeing ( BA.N), Facebook ( FB.O) and Citigroup ( C.N), a regulative filing revealed, providing it a portfolio of almost $10 billion in U.S.-listed stocks.

FILE PICTURE – General view of Riyadh city, after the Saudi federal government alleviated a curfew, following the outbreak of the coronavirus illness (COVID-19), in Riyadh, Saudi Arabia, Might 7,2020 REUTERS/Ahmed Yosri

The $300 billion Public Mutual fund (PIF) has been purchasing minority stakes in companies across the world, making the most of market weak point in the wake of the coronavirus outbreak.

The PIF disclosed stakes worth $7137 million in Boeing, ABOUT $522 million in Citigroup, $522 million in Facebook, $4958 million in Disney ( DIS.N) and $4876 million in Bank of America ( BAC.N), the U.S. Securities and Exchange Commission (SEC) filing bit.ly/ 3e2A01 B on Friday revealed.

The PIF has an almost $514 million stake in Marriott ( MAR. O) and a little holding in Berkshire Hathaway ( BRKa.N), according to the filing. The PIF also divulged an $8277 million stake in oil company BP ( BP.L), which has American Depository Receipts (ADRs) noted in the United States.

” The Saudi sovereign fund went shopping in Q1,” tweeted Ali Al-Salim, co-founder of Dubai-based consulting firm Arkan Partners, including tha

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