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Saudi Activision Blizzard Stake Rises Again Amid Controversy

activision blizzard

Photographer: Jae C. Hong/AP Photo

Saudi Arabia’s sovereign wealth fund kept buying Activision Blizzard Inc.’s stock last quarter, a commitment that may be tested as the video-game giant contends with a legal challenge over harassment and sexism in the workplace.

The Public Investment Fund raised its holding in the maker of popular games like World of Warcraft by 13% to 37.9 million shares, with a market value of $3.6 billion, according to a regulatory filing. The sovereign investor, known as the PIF, has now more than doubled its stake since the fourth quarter and owns 4.9% in the company.