Saudi PIF exits Warren Buffett flagship

Saudi PIF exits Warren Buffett flagship

Saudi PIF exits Warren Buffett flagship

Saudi PIF exits Warren Buffett flagship

The PIF cut its exposure to American firms to $7.05 billion as of Sept. 30, down 30 percent from $10.1 billion the previous quarter, it said in a filing on Monday to the US Securities and Exchange Commission (SEC). (File/Shutterstock)

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Saudi PIF exits Warren Buffett flagship

Sovereign wealth fund reduces US holdings by $3bn, latest filings show

During the second quarter of the year, PIF sold 50 percent of its stake in Berkshire Hathaway

Updated 17 November 2020

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DUBAI:  Saudi Arabia's Public Investment Fund (PIF) has reduced its equity holdings in US companies by almost $3 billion, including selling its remaining stake in Warren Buffett's Berkshire Hathaway, according to new official figures.

The PIF cut its exposure to American firms to $7.05 billion as of Sept. 30, down 30 percent from $10.1 billion the previous quarter, it said in a filing on Monday to the US Securities and Exchange Commission (SEC).

The fund maintained its shares in ride-hailing firm Uber, where its stake is worth $2.657 billion; entertainment operator Live Nation, where it owns shares worth $677 million; and cruise ship company Carnival, where its stake was valued at $771.6 million.

It also has interests in