Data from Tadawul’s website on Sunday listed for the first time GOSI as among shareholders holding more than 5 percent in SABIC, the world’s most valuable petrochemical company by market value.

The data does not disclose previous stake held by GOSI nor the amount of new shares bought by the fund. Officials at Tadawul could not be reached for comment.  SABIC is due to announce its second-quarter earnings before July 21.

A 5 percent stake in SABIC is worth SR13.43 billion ($3.58 billion) based on Saturday’s closing price. SABIC closed 5.3 percent higher on Saturday.

Because of their sophistication, stock picks by institutional investors such as GOSI or the other state-run Public Pension Agency (PPA), the Kingdom’s second largest pension fund, offer an insight to their investment strategies, which can be instrumental for retail brokerage and individual investors.