US EditionSaudi Arabia trims bets on US tech stocks
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Saudi Arabia trims bets on US tech stocks
PIF has stake in 62 firms $25.6bn total value Amazon stake increased Saudi Arabia’s Public Investment Fund (PIF) rejigged its US equities portfolio during a tumultuous first quarter for Stateside stocks, expanding its direct investment in Amazon but trimming its bets on some of the other so-called Magnificent Seven technology companies. PIF has submitted filings to the US market regulator each financial quarter from 2020 onwards when it became a…
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