Saudi wealth fund sells its stake in Shopify

Saudi wealth fund sells its stake in Shopify

The Public Investment Fund also cuts holdings in Meta and Paypal

Saudi wealth fund cuts $2bn from US stock holdings

PIF reduces US stocks Key investments under pressure Call options increase rights Saudi Arabia’s Public Investment Fund (PIF) pared its exposure to US-listed equities in the second quarter, shedding nearly $2 billion in holdings. The $913 billion sovereign wealth fund sold down stakes in 12 companies, including Facebook and Instagram owner Meta Platforms, Canadian e-commerce platform Shopify and digital payments company PayPal Holdings, accordin…