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CS Disco
LAW

104 hedge funds and large institutions have $150M invested in CS Disco in 2025 Q2 according to their latest regulatory filings, with 21 funds opening new positions, 37 increasing their positions, 28 reducing their positions, and 12 closing their positions.

New
Increased
Maintained
Reduced
Closed

75% more first-time investments, than exits

New positions opened: 21 | Existing positions closed: 12

32% more repeat investments, than reductions

Existing positions increased: 37 | Existing positions reduced: 28

8% more funds holding

Funds holding: 96 → 104 (+8)

7% more capital invested

Capital invested by funds: $140M → $150M (+$9.93M)

0% more funds holding in top 10

Funds holding in top 10: 2 → 2 (0)

0.26% less ownership

Funds ownership: 56.56% → 56.3% (-0.26%)

Holders
104
Holders Change
+8
Holders Change %
+8.33%
% of All Funds
1.37%
Holding in Top 10
2
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.03%
New
21
Increased
37
Reduced
28
Closed
12
Calls
$182K
Puts
–
Net Calls
+$182K
Net Calls Change
+$100K

Top Buyers

Rank Fund Capital Flow
1
TCM
Topline Capital Management
California
+$4.63M
2
Millennium Management
Millennium Management
New York
+$894K
3
MGIA
Moneta Group Investment Advisors
Missouri
+$886K
4
Citadel Advisors
Citadel Advisors
Florida
+$627K
5
ACH
ArrowMark Colorado Holdings
Colorado
+$505K

Top Sellers

Rank Fund Capital Flow
1
Norges Bank
Norges Bank
Norway
-$4.39M
2
Franklin Resources
Franklin Resources
California
-$3.81M
3
WCA
Whetstone Capital Advisors
Kansas
-$417K
4
Bank of America
Bank of America
North Carolina
-$316K
5
Geode Capital Management
Geode Capital Management
Massachusetts
-$247K
Name Holding Trade Value Shares
Change 		Change in
Stake
UBS Group
26
UBS Group
Switzerland
$661K +$44K +11,220 +8%
Acadian Asset Management
27
Acadian Asset Management
Massachusetts
$542K +$300K +76,559 +158%
D.E. Shaw & Co
28
D.E. Shaw & Co
New York
$524K +$116K +29,589 +33%
Goldman Sachs
29
Goldman Sachs
New York
$470K +$63.2K +16,137 +18%
MGIA
30
Matthew Goff Investment Advisor
Texas
$468K – – –
WCA
31
Whetstone Capital Advisors
Kansas
$348K -$417K -106,403 -57%
Bank of New York Mellon
32
Bank of New York Mellon
New York
$337K +$2.13K +544 +0.7%
Los Angeles Capital Management
33
Los Angeles Capital Management
California
$324K +$290K +74,125 New
AllianceBernstein
34
AllianceBernstein
Tennessee
$278K +$22.3K +5,700 +10%
Barclays
35
Barclays
United Kingdom
$254K +$108K +27,559 +90%
SO
36
STRS Ohio
Ohio
$248K +$15.7K +4,000 +8%
RS
37
R Squared
Hong Kong
$207K +$107K +27,423 +137%
CSS
38
Cubist Systematic Strategies
Connecticut
$207K -$21.6K -5,516 -10%
Jane Street
39
Jane Street
New York
$207K +$10.3K +2,632 +6%
Susquehanna International Group
40
Susquehanna International Group
Pennsylvania
$199K -$45.8K -11,686 -20%
N
41
Nuveen
North Carolina
$183K -$27.3K -6,968 -14%
AQR Capital Management
42
AQR Capital Management
Connecticut
$182K +$163K +41,639 New
RhumbLine Advisers
43
RhumbLine Advisers
Massachusetts
$171K -$15K -3,817 -9%
Ameriprise
44
Ameriprise
Minnesota
$159K +$5.31K +1,354 +4%
HF
45
HRT Financial
New York
$154K +$138K +35,334 New
American Century Companies
46
American Century Companies
Missouri
$150K -$5.26K -1,342 -4%
PP
47
PDT Partners
New York
$148K +$9.36K +2,388 +8%
XT
48
XTX Topco
Cayman Islands
$139K +$125K +31,835 New
Corient Private Wealth
49
Corient Private Wealth
Florida
$110K +$494 +126 +0.5%
Arrowstreet Capital
50
Arrowstreet Capital
Massachusetts
$108K – – –
1
2
3 4 5

LAW Hedge Fund Activity: Q2 2025 in Review

104 of the 7,596 institutional investors tracked by Wall St. Rank reported a position in CS Disco (LAW) for Q2 2025, worth a combined $150M — up 7.1% from $140M a quarter earlier.

Buyers outnumbered sellers: 21 funds opened new LAW positions and 12 closed out — a net gain of 9 holders — while 37 added to existing stakes and 28 trimmed.

The largest buyer was Topline Capital Management, adding an estimated $4.63M. The largest seller was Norges Bank, cutting an estimated $4.39M.

  • 104 institutional investors held CS Disco (LAW) as of Q2 2025, up from 96 in Q1 2025.
  • Funds reported $150M of CS Disco stock for Q2 2025, up 7.1% quarter-over-quarter.
  • 21 funds opened new CS Disco positions in Q2 2025 and 12 closed out, a net change of +9 holders.
  • The largest CS Disco buyer in Q2 2025 was Topline Capital Management, an estimated $4.63M added.
  • The largest CS Disco seller in Q2 2025 was Norges Bank, an estimated $4.39M sold.

Based on aggregated 13F filings for Q2 2025.