DUBAI: Saudi sovereign wealth fund PIF held nearly $56 billion worth of US-listed stocks as of December last year, up from $43.4 billion at the end of September, boosted by the increased value of electric car maker Lucid, it said in a US regulatory filing. The fund’s Lucid holdings were valued at $38.6 billion as of December, up from $25.8 billion at the end of September, the filing showed. Lucid’s listing in July last year was a huge boost for the Saudi sovereign wealth fund. The Public Investment Fund (PIF), which currently holds a nearly 62 percent stake in Lucid, had invested more than $1 billion in the company in 2018 for a substantial stake and increased its investment in February 2021. Shares of Lucid have fallen 28 percent so far this year. The PIF also owns a 3.75 percent stake in ride-sharing company Uber Technologies. The sovereign wealth fund sharply cut its stake in Prologis, while substantially increasing its stake in Farfetch, a technology platform in the fashion industry, to 3.3 million class A shares. It also raised its stake in Pinterest. PIF, which manages about $480 billion in assets, is at the center of Saudi Arabia’s Vision 2030, a national strategy aimed at diversifying the kingdom’s economy and cutting reliance on hydrocarbons. On Sunday the government said Crown Prince Mohammed bin Salman had transferred 4 percent of Saudi Aramco shares worth $80 billion to the kingdom’s sovereign wealth fund.