Saudi Arabia’s sovereign wealth fund doubled down on its pandemic-era investments in video-game makers and added new bets as it raised holdings of U.S. stocks by about a fifth to $15.4 billion.
The Public Investment Fund brought its total commitment to video-game makers including Activision Blizzard Inc., Electronic Arts Inc. and Take-Two Interactive Software Inc. to $6 billion during the first quarter, according to regulatory filings on Monday. Those holdings were valued at $3.3 billion at the end of the fourth quarter.
The PIF also added to its roster by buying $141 million worth of stock in South Korean e-commerce giant Coupang Inc., whose biggest backer is Japanese conglomerate SoftBank Group Corp.
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