Saudi sovereign wealth fund sold its stakes in Alibaba, Meta, FedEx, and others in the second quarter.

According to the 13F institutional ownership filings released on Thursday, the Saudi sovereign wealth fund - the Saudi Public Investment Fund, divested its holdings in several US-listed companies in the second quarter, including Alibaba, Meta, FedEx, Shopify, PayPal, and Nu Holdings, and no longer holds any shares. During the second quarter, the US stock market initially fell in April due to the impact of tariff policies, but later rebounded. Previous filings had shown that PIF held 667,996 shares of Meta's Class A stock at the end of the first quarter, 1.61 million shares of Alibaba's American depositary stock, and 498,164 shares of FedEx common stock.