Saudi Arabia's Public Investment Fund (PIF) trimmed its holding in Nintendo Co., a day after reports that a senior executive at the kingdom's mammoth sovereign wealth fund said it was considering upping its stake.

Saudi Arabia’s sovereign wealth fund has reduced its stake in Nintendo, according to a new report. CNBC (via GamesIndustry.biz) notes that Savvy Games – an investment group founded by Saudi Arabia’s Public Investment Fund (PIF) – has cut its stake in Nintendo from 8.58% to 7.54%, a move which still makes it one of Nintendo’s largest shareholders.

Update [Tue 8th Oct, 2024 12:15 BST]: Following articles over the weekend that Saudi Arabia's Public Investment Fund may seek to increase its investment in Nintendo over and above the 8.58% stake it owned, CNBC now reports that the PIF has, in fact, cut its stake in the Japanese firm.