UPDATE 2-Saudi wealth fund boosts U.S. holdings with stakes in Citi, Boeing, Facebook
May 16, 2020 at 07:02 AM EDT
Saudi Arabia's sovereign wealth fund has bought minority stakes in major American companies including Boeing, Facebook and Citigroup , a regulatory filing showed, giving it a portfolio of nearly $10 billion in U.S.-listed stocks. The $300 billion Public Investment Fund (PIF) has been buying minority stakes in companies across the world, taking advantage of market weakness in the wake of the coronavirus outbreak.