Saudi Arabia’s sovereign wealth fund, Public Investment Fund (PIF), has upped its stake in EV company, Lucid Group (NASDAQ: LCID) by 9.2% to 1.11 billion shares in Q4 versus 1.02 billion shares in Q3 as was evident by the hedge fund’s 13-F filing.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
In addition, PIF marginally increased its stake in Activision Blizzard (ATVI) by 0.1% to 37.9 million shares in Q4.
However, the hedge fund cut its stake in online fashion retailer Farfetch (FTCH) by 36.5% to 2.1 million class A shares in Q4 versus 3.31 million class A shares in Q3.
The current net worth of the hedge fund is $36.8 billion but it has not performed well over the past year, giving a negative average return of 41.7%.
