PUBLIC INVESTMENT FUND
Long book
$12.01B
Q1 2026
Positions
4
Top-10 weight
100%
concentration
Last quarter
-3.1%
SPY +14.8%
Turnover
20%
of book per quarter
Strategy in plain words
auto-generated from filingsPUBLIC INVESTMENT FUND is a concentrated fundamental stock-picker, running a $12.01B US long book across 4 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. Turnover is modest: positions are typically held for years. Current anchor positions: UBER TECHNOLOGIES INC, ELECTRONIC ARTS INC, LUCID GROUP INC, CLARITEV CORP.
Over the last 9 quarters its long book ran on average 4.8pp per quarter behind the S&P 500, beating the index in 3 of 9 quarters. We rate its filings highest-signal: new buys here are worth attention.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-2.1%
Q2 2024
+10.6%
Q3 2024
-7.3%
Q4 2024
+1.0%
Q1 2025
+10.4%
Q2 2025
+12.5%
Q3 2025
-18.0%
Q4 2025
-7.2%
Q1 2026
-3.1%
Sector allocation
Services media 44%
Technology 42%
Industrials 14%
Long book by quarter
What does PUBLIC INVESTMENT own?
Q1 2026 13F13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 4 | $12.01B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 5 | $12.95B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 6 | $19.37B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 57 | $23.81B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 64 | $25.55B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 62 | $26.77B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 54 | $26.75B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR/ANEW HOLDINGS | Sep 30, 2024 | 1 | $65.9M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 38 | $20.66B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 38 | $20.55B | canonical | SEC ↗ |
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