The Public Investment Fund of Saudi Arabia has increased its investments in Alphabet, Google’s parent company, and Meta, the parent company of Facebook and Instagram.
According to a filing with the US Securities and Exchange Commission, PIF increased its stake in Meta by 11% to over 3.26 million shares, valued at approximately $443 million. It also increased its Alphabet investment to over 4.26 million shares in the three months ending September 2022. Its position is worth more than $407 million. It had 213,000 shares in Google’s parent company in the previous quarter. The sovereign wealth fund manages assets worth more than $620 billion.
