The US Securities and Exchange Commission said that the Saudi Investment Fund has given up shares in several companies and banks.
She added that among the companies that the Saudi Investment Fund gave up stakes in it were Facebook, Boeing, British Petroleum, Walt Disney, Total Oil Company, and the Marriott Hotel Company.
The Saudi Investment Fund also gave up shares in two banks, Bank of America and Citigroup.
In the context, Reuters reported that the Saudi fund, valued at $ 300 billion, has reduced its stakes in a few companies, including Cisco Systems.
On the other hand, the fund raised its stakes in three companies, namely Life Nation, Sancore Energy, and Automatic Data Processing.
According to Reuters, the total value of his holdings of shares and ETFs until the end of the second quarter of this year amounted to $ 10.1 billion, which is slightly more than direct stakes worth $ 9.8 billion in leading companies that the fund disclosed at the end of the first quarter.
Due to the decline in oil prices and the outbreak of the Corona virus, the Saudi budget faced a large deficit, the door to borrowing was opened, and many economic sectors were affected, and companies such as Aramco oil company, whose profits fell in the first half of this year by 50%, according to data published a few days ago. .