Saudi PIF buys shares in Alphabet, Zoom and Microsoft in U.S. shopping spree – Reuters

Saudi PIF buys shares in Alphabet, Zoom and Microsoft in U.S. shopping spree – Reuters

DUBAI, Aug 16 (Reuters) - Saudi Arabia’s Public Investment Fund (PIF) bought shares in Alphabet (GOOGL.O), Zoom Video (ZM.O) and Microsoft (MSFT.O) as part of a wider pick of U.S. stocks, bringing the market value of the sovereign wealth fund's investment portfolio to about $40.8 billion at the end of the second quarter.

The PIF acquired 213,000 class A shares in Alphabet, 4.7 million class A shares in Zoom and 1.8 million shares in Microsoft, a U.S. Securities and Exchange Commission filing showed.

It also acquired shares in JPMorgan (JPM.N) and BlackRock (BLK.N), buying 3.9 million shares and 741,693 shares respectively.