“Saudi Energy” leads the performance of the 10 largest companies in the “PIF” portfolio for the first quarter
The Public Investment Fund (PIF) portfolio maintained its strong performance in the Saudi stock market during the first quarter of 2026, confirming the Fund’s continued contribution to the growth of sectors and companies and creating new jobs as a catalyst for the Kingdom’s Vision 2030. By the end of the first quarter of 2026, the fund’s managed assets amounted to General investments in a trading market (TASI) 1.7 trillion riyals, an increase of 10% and 154 billion riyals, according to data "Ithraa Financial Center"
Performance of the top 10 companies in the PIF portfolio for the first quarter of 2026
During the first quarter of 2026, most Market Shares Gains compared to the previous quarter, as the Saudi Energy Company (formerly Saudi Electricity Company) led the portfolio’s performance with a strong increase of 20.5%, followed by Alinma Bank by 18.4%, and Saudi Aramco by 15%. The National Bank of Saudi Arabia, 10.4%, Riyad Bank, 8.6%, and Ma’aden, 6.3%, also recorded strong gains, which enhances the strength of the financial and industrial sectors. On the other hand, Elm Company declined by -28.3%, Acwa Power by -4.6%, along with Saudi Telecom by -1.1% and Saudi Tadawul Group by -0.4%, which reflects some selective adjustments during a positive quarter in general.
Ma’aden leads the rise on an annual basis
In terms of the level of change on an annual basis in the first quarter of 2026, Ma’aden topped the performance list with an increase of 40%, followed by the Saudi National Bank by 16.7%, and Saudi Energy by 6.1, driven by strong momentum in the mining and financial services sectors. Saudi Aramco also recorded gains of 2.4%. In contrast, ACWA Power saw a sharp decline of -49.1 and Alam -44.7%, along with Tadawul Group -31.5 and Riyad Bank -10.5, reflecting selective pressures within a solid core portfolio.
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