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Saudi Arabia funnels oil riches into big-cap US stocks with $7.5 billion buying spree as valuations fell

1 month ago   |   By Business Insider

Saudi Crown Prince Mohammed bin Salman chairs the Public Investment Fund. Charly Triballeau
Saudi Arabia's sovereign-wealth fund ramped up its bets on US big-cap stocks in the second quarter.
The Public Investment Fund poured more than $7 billion into stocks like Alphabet, Amazon and JPMorgan.
The PIF's holdings of US stocks stood at $40.7 billion at the end of the quarter.
Saudi Arabia's sovereign-wealth fund ramped up bets on US big-cap stocks with more than $7 billion in new investments during the second quarter. The Public Investment Fund bought shares of 17 companies, including tech...
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