Saudi Arabia's sovereign wealth fund, the PublicInvestment Fund (PIF), has purchased minority stakes in major U.S. companiesincluding Boeing, Facebook and Citigroup, according to aU.S. regulatory filing.
PIF disclosed a $713.7 million stake in Boeing, around $522 million inCitigroup, a $522 million stake in Facebook, a $495.8 million stake inDisneyand a $487.6 million stake in Bank of America, theSecurities and Exchange filing on Friday showed. It also disclosed a small stakein Berkshire Hathaway.
PIF also disclosed an $827.7 million stake in oil company BP, whichhas American Depository Receipts (ADRs) listed in the United States.
The $300 billion Saudi sovereign fund has been buying minority stakes inglobal companies, taking advantage of market weakness in the wake of thecoronavirus outbreak.
PIF was not immediately available to comment.
Last month it disclosed an 8.2% stake in coronavirus-hit Carnival Corp, sending the cruise operator's shares nearly 30% higher.
The Saudi fund earlier this year bought stakes in Royal Dutch Shell, Total, Eni and Equinor, a source familiarwith the transactions told Reuters on April 9.
PIF already has stakes in Uber Technologies and electric carcompany Lucid Motors.
