According to 13F institutional holding documents released on Thursday, Saudi Arabia's sovereign wealth fund - the Public Investment Fund (PIF) - completely divested its stakes in multiple US-listed companies during the second quarter. The fund eliminated all holdings in Alibaba, Meta Platforms, Inc., FedEx, Shopify, PayPal, and Nu Holdings, retaining no shares in these companies.

During the second quarter, US equity markets initially declined in April due to concerns over tariff policies, but subsequently recovered. Previous filings revealed that PIF held 667,996 Class A shares of Meta Platforms, Inc., 1.61 million American Depositary Shares (ADS) of Alibaba, and 498,164 common shares of FedEx at the end of the first quarter.