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Saudi Arabia’s sovereign wealth fund increased its stake in electric vehicle maker Lucid Group (NASDAQ:LCID) in Q4, while trimming its position in online fashion retailer Farfetch (NYSE:FTCH).
The Public Investment Fund (PIF) disclosed the information in its latest 13F filing for the three months ended Dec. 31, 2022, published after hours on Tuesday.
PIF upped its stake in LCID by 9.2% to 1.11B shares in Q4 from 1.02B shares in Q3. Additionally, PIF bumped up its stake in videogame publisher Activision Blizzard (NASDAQ:ATVI) marginally by 0.1% to 37.91M shares in Q4 from 37.87M shares in Q3.
The sovereign fund cut its stake in FTCH by 36.5% to 2.10M class A shares in Q4 from 3.31M class A shares in Q3.
PIF also cut its stake in UK-based digital healthcare company Babylon Holdings (NYSE:BBLN) by 91.4% to 3.03M class A shares in Q4 from 35.41M class A shares in Q3. However, this was probably due to BBLN’s 1-for-25 reverse stock split in Q4.
The sovereign fund kept its other stakes unchanged.
In Q3, PIF had increased its stakes in Facebook-owner Meta (META) and Google-parent Alphabet (GOOG) (GOOGL), while exiting its stake in Hyzon Motors (HYZN).
