The Saudi Public Investment Fund, the kingdom's sovereign wealth fund, announced that it had acquired nearly $56 billion in listed shares in the United States of America as of December 2021. , up from $43.4 billion at the end of last September, supported by an increase in the value of the electric car maker Lucid.
The fund said in a regulatory disclosure, today, Tuesday, that the value of the fund's holdings in Lucid last December amounted to $38.6 billion, up from $25.8 billion at the end of September 2021. .
Lucid's inclusion in July last year was a major boost for Saudi Arabia's sovereign wealth fund.
The Public Investment Fund, which currently owns a stake in Lucid close to 62%, invested more than $1 billion in the company in 2018 for a large stake and increased its investments in February 2021.
Lucid's shares are down 28% since the beginning of the year.
The Public Investment Fund also owns a 3.75% stake in Uber Technologies for passenger transportation services.
The fund sharply reduced its stake in Prologis, while significantly increasing its stake in Farfetch, a technology platform in the fashion industry, to 3.3 million Class A shares. .
The fund also raised its stake in Pinterest.
