SCHEDULE: Saudi Fund Discloses 6.2% Stake in Take-Two Interactive

The Public Investment Fund and its subsidiaries have disclosed a 6.2% beneficial ownership stake in Take-Two Interactive Software, Inc.

Summary

• The Public Investment Fund (PIF), Saudi Electronic Games Holding Company (Savvy), and The Saudi Fourth Investment Company (Saudi Fourth) collectively reported beneficial ownership of 11,414,680 shares of Take-Two Interactive Software, Inc. common stock.
• This represents approximately 6.2% of the Issuer's outstanding common stock, based on 184,778,832 shares outstanding as of October 27, 2025.
• The ownership is held directly by Saudi Fourth, which is wholly owned by Savvy, which in turn is wholly owned by PIF.
• The Reporting Persons share both voting and dispositive power over these 11,414,680 shares.
• The filing is an Amendment No. 3 to a Schedule 13G, indicating a passive investment without intent to change or influence control of the issuer.

Sentiment

Score: 7

Explanation: The filing indicates a significant, passive investment by a major sovereign wealth fund, which is generally a positive signal of confidence in the company's long-term value. No negative operational or financial news is present within this ownership disclosure.

Positives

• Significant investment by a major sovereign wealth fund (PIF) signals confidence in Take-Two Interactive's long-term prospects within the gaming industry.
• The 6.2% stake provides a stable, long-term institutional shareholder base for Take-Two Interactive.

Future Outlook

This filing, a disclosure of beneficial ownership, does not contain any forward-looking statements or guidance from Take-Two Interactive Software, Inc. or the Reporting Persons regarding the issuer's future performance.

Management Comments

• The Reporting Persons certify that the securities were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer, nor in connection with any transaction having that purpose or effect, other than activities solely in connection with a nomination under §§ 240.14a-11.

Industry Context

The investment by the Public Investment Fund, through its gaming arm Savvy Games Group, aligns with broader trends of sovereign wealth funds and large institutional investors increasing their exposure to the global video game industry, which has shown significant growth and resilience. This indicates a strategic interest in the interactive entertainment sector, reflecting confidence in its long-term prospects.

Comparison to Industry Standards

• The Public Investment Fund (PIF) has a history of significant investments in major global gaming companies, including stakes in Nintendo, Activision Blizzard (prior to acquisition), Electronic Arts, and Capcom. This 6.2% stake in Take-Two Interactive is consistent with PIF's strategy of building a diversified portfolio within the gaming sector, similar to its previous investments.
• Savvy Games Group, a PIF subsidiary, aims to become a leading global games and esports company, and investments like this in established publishers such as Take-Two Interactive (publisher of Grand Theft Auto, NBA 2K, Red Dead Redemption) are a standard approach for gaining exposure to top-tier intellectual property and market share.

Stakeholder Impact

• Shareholders: The presence of a large, stable institutional investor like PIF could be seen as a positive for long-term share price stability and confidence.
• Management: The passive nature of the investment suggests no immediate pressure for strategic or operational changes from this shareholder.

Next Steps

• The Reporting Persons will continue to monitor their investment in Take-Two Interactive Software, Inc.
• Further amendments to Schedule 13G would be filed if their beneficial ownership percentage changes significantly (e.g., by 1% or more).

Key Dates

Recommendation

The disclosure of a substantial 6.2% stake by the Public Investment Fund (PIF) and its subsidiaries in Take-Two Interactive Software, Inc. signals strong institutional confidence in the company's long-term prospects within the gaming industry. While this filing does not provide operational or financial performance data, the entry or increased stake of a major sovereign wealth fund is generally viewed as a positive indicator, suggesting a stable, long-term shareholder base. For existing investors, this reinforces a 'hold' position, as it validates the company's value proposition. For potential investors, it warrants further due diligence into Take-Two's fundamentals, as the PIF's strategic investment in the gaming sector is well-documented.

Keywords

Take-Two Interactive, TTWO, Public Investment Fund, PIF, Saudi Electronic Games Holding Company, Savvy Games Group, Saudi Fourth Investment Company, Schedule 13G, Beneficial Ownership, Gaming Industry, Sovereign Wealth Fund, Investment