Saudi Arabia’s sovereign Public Investment Fund held $30.9 billion worth of U.S. stocks at the end of 2022, down from $36.8 billion at the end of September, dragged down by a $6.8 billion decrease in value of electric carmaker Lucid , it said in a regulatory filing.
That was equivalent to roughly 5.6% of Lucid shares, according to calculations based on Refinitiv data. Shares of Lucid, which plans to build its first overseas factory in Saudi Arabia, were down 51% in the fourth quarter.
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