Saudi Arabia Wealth Fund owns stakes in Boeing, Citi, Disney

Saudi Arabia’s sovereign wealth fund which until five years ago was a holding company for government stakes in domestic businesses, disclosed an $827.8 million stake in BP Plc, a $713.7 million investment in Boeing Co. and $522 million positions in both Citigroup Inc. and Facebook Inc. at the end of the first quarter.

Other bets include $495.8 million on Walt Disney Co. and $487.6 million on Bank of America Corp.

The $320 billion Public Investment Fund said in April that it was looking into “any opportunity” arising from the economic wreckage of the coronavirus crisis.

A regulatory filing Friday shows how the fund spent billions of dollars this year on stocks.

The PIF is looking into “any opportunity” arising from the economic wreckage of the crisis, the fund’s governor, Yasir Al-Rumayyan, said at a virtual event in April. The fund expects to see “lots of opportunities,” he predicted at the time, citing airlines, energy and entertainment companies as examples.