Saudi Arabia sovereign wealth fund takes stakes in Meta Platforms, Sea

May 17, 2022 12:56 PM ETMeta Platforms, Inc. (META), SETTWO, BABA, PYPL, JTKWY, WMT, VBy: Anuron Mitra, SA News Editor34 Comments

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  • Saudi Arabia's sovereign wealth fund took a stake in Facebook-owner Meta Platforms (NASDAQ:FB) and Singapore-based developer of digital entertainment and gaming platforms Sea (NYSE:SE) during the first quarter of 2022, according to its latest 13F filing.
  • The Public Investment Fund (PIF) bought about 418K class A shares in Meta and around 239K American depositary shares in Sea.
  • PIF more than doubled its stake in video-game developer Take-Two Interactive Software (TTWO) to 11.4M shares from 5.64M shares at the end of Q4 2021.
  • PIF upped its stake in Chinese e-commerce major Alibaba (BABA) by 48.6% to 1.04M American depositary shares. It also increased its stake in payment tech company PayPal (PYPL) by 34.4% to about 910K shares.
  • Among other notable changes, PIF almost entirely exited its stake in Grubhub owner Just Eat Takeaway (OTC:JTKWY).
  • The wealth fund significantly cut its holdings in retail giant Walmart (WMT) by 52.3% to about 790K shares. It also slashed its stake in card network Visa (V) by 18.8% to 1.43M shares.
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