For information and research only. Not investment advice.
13F filings13F is partial
PIF (Saudi)
Public Investment Fund
Performance
Assuming an initial $100,000 · Benchmark: S&P 500
Hypothetical
Replication modeTop 5Top 10>1%
YTD1Y5Y8YAll
CompoundFixed
Gains are reinvested — principal and returns grow together.
Backtest through 2026-07-28
After filingAt quarter endBenchmark · S&P 500
After filing — buys the holdings only once the filing is public — about 45 days after the quarter ends. The path someone could actually have taken.
At quarter end — pretends the same holdings were bought on the last day of the quarter, before anyone could have known them. Not possible in reality — shown dashed for comparison only.
Benchmark — S&P 500 (SPY) total return over the same window — what doing nothing but holding the market would earn.
Hypothetical backtest — not a real trading record. Simulated on public data from 2019-02: each position is bought only after the filing became public (using no information unavailable at the time), with trading costs deducted, on a total-return basis. Past performance does not predict future results.
All metrics below are computed on the After-filing curve.
Return?
13.7%
Compound annual return over the sample.
Risk?
36.1%
How much returns swing (annualized stdev); lower is steadier.
Return vs risk?
0.53
Return ÷ volatility; higher is better.
Beat SPX?
−2.3%
Annualized gain over the S&P.
Excess?
+1.7%
The strategy's own annual excess, apart from the market.
Significance?
t=0.15 · very weak
t-value: how solid the excess is — higher is more reliable.
Max DD?
−64.1%
Largest peak-to-trough fall.
Leverage?
1.05×
How many times it rises and falls together with the market.
Longest recovery?
25 mo
Longest wait from a peak back to a new high.
About
Public Investment Fund
The Public Investment Fund (PIF) is Saudi Arabia’s sovereign wealth fund, with assets spanning private equity, infrastructure and the kingdom’s Vision 2030 projects. Its SEC 13F is only a small, concentrated slice of US-listed holdings — including strategic stakes such as Lucid — and does not represent the whole portfolio. Investors interested in how Middle-Eastern sovereign capital is allocated to US equities can follow its filings over time.
Holdings & changes
Replication modeTop 5Top 10>1%
Current holdingsPosition changes
2026-Q1 filing · filed 2026-05-15
>1% · filed weights
Ticker
Name
Weight
vs last filing
UBER
Uber Technologies, Inc.
43.6%
−2.3 ▼
EA
Electronic Arts Inc
42.1%
+3.0 ▲
LCID
LCID
14.1%
−0.4 ▼
Risk
13F is partial — A sovereign wealth fund whose book is mostly private equity, infrastructure and domestic projects; the 13F shows only a small US-listed slice, including large strategic stakes — not the whole portfolio.
The replication is built from public filings: ~45-day lag, US long stock positions only; replication returns are not the fund’s real returns, and the manager may have traded since.
Past / backtested performance does not predict the future. Masterfolio is an information service / publisher, not an investment adviser.