Saudi Arabia’s sovereign wealth fund has increased its stake in electric vehicle maker Lucid Group (NASDAQ: LCID) in the fourth quarter, while reducing its position in online fashion retailer Farfetch (NYSE:FTCH).
The Public Investment Fund (PIF) published the data in its the latest 13F submission for the three months ended December 31, 2022, released after hours on Tuesday.
PIF increased its stake in LCID by 9.2% to 1.11 billion shares in the fourth quarter from 1.02 billion shares in the third quarter. In addition, PIF increased its stake in video game publisher Activision Blizzard (NASDAQ: ATVI) slightly down 0.1% to 37.91 million shares in the fourth quarter from 37.87 million shares in the third quarter.
The sovereign wealth fund decreased its holdings in FTCH by 36.5% to 2.10 million shares of Class A in the fourth quarter from 3.31 million shares of Class A in the third quarter.
PIF also reduced its stake in UK-based digital health company Babylon Holdings (NYSE: BBLN) by 91.4% to 3.03 million Class A shares in the fourth quarter from 35.41 million Class A shares in the third quarter. However, this was likely due to BBLN’s 1-for-25 reverse stock performance in Q4.
The state fund kept its other holdings unchanged.
In the third quarter, PIF increased its stakes in Facebook-owner Meta ( META ) and Google-owner Alphabet ( GOOG ) ( GOOGL ) while exiting its stake in Hyzon Motors ( HYZN ).