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CS Disco

126 hedge funds and large institutions have $282M invested in CS Disco in 2025 Q4 according to their latest regulatory filings, with 21 funds opening new positions, 51 increasing their positions, 33 reducing their positions, and 8 closing their positions.

New
Increased
Maintained
Reduced
Closed

163% more first-time investments, than exits

New positions opened: 21 | Existing positions closed: 8

55% more repeat investments, than reductions

Existing positions increased: 51 | Existing positions reduced: 33

27% more capital invested

Capital invested by funds: $222M → $282M (+$60.1M)

9% more funds holding

Funds holding: 116126 (+10)

2.66% more ownership

Funds ownership: 55.49%58.15% (+2.7%)

25% less funds holding in top 10

Funds holding in top 10: 43 (-1)

Holders
126
Holders Change
+10
Holders Change %
+8.62%
% of All Funds
1.53%
Holding in Top 10
3
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-25%
% of All Funds
0.04%
New
21
Increased
51
Reduced
33
Closed
8
Calls
$42K
Puts
Net Calls
+$42K
Net Calls Change
-$29K
Name Holding Trade Value Shares
Change
Change in
Stake
DMC
1
Deer Management Company
New York
$67.1M
SG
2
Stephens Group
Arkansas
$60.5M
TCM
3
Topline Capital Management
California
$25.7M +$785K +111,371 +3%
Vanguard Group
4
Vanguard Group
Pennsylvania
$15.3M +$101K +14,278 +0.7%
BlackRock
5
BlackRock
New York
$13.4M +$1.44K +204 +0%
LCM
6
Lakewood Capital Management
New York
$8.39M +$458K +65,000 +6%
SP
7
Solel Partners
Massachusetts
$8.1M -$429K -60,800 -6%
Dimensional Fund Advisors
8
Dimensional Fund Advisors
Texas
$5.88M +$188K +26,608 +4%
FG
9
Formula Growth
Quebec, Canada
$5.82M -$494K -70,000 -9%
ACH
10
ArrowMark Colorado Holdings
Colorado
$5.48M -$1.01M -143,506 -17%
Geode Capital Management
11
Geode Capital Management
Massachusetts
$4.28M +$39.7K +5,634 +1%
Norges Bank
12
Norges Bank
Norway
$4.25M +$3.86M +547,947 New
EIM
13
Essex Investment Management
Massachusetts
$4.11M +$605K +85,838 +19%
State Street
14
State Street
Massachusetts
$4.05M +$102K +14,433 +3%
Acadian Asset Management
15
Acadian Asset Management
Massachusetts
$3.06M +$520K +73,690 +23%
Morgan Stanley
16
Morgan Stanley
New York
$2.76M +$552K +78,224 +28%
First Eagle Investment Management
17
First Eagle Investment Management
New York
$2.55M +$1.16M +164,873 +101%
N
18
Nuveen
North Carolina
$2.47M +$1.46M +207,700 +187%
D.E. Shaw & Co
19
D.E. Shaw & Co
New York
$2.26M +$373K +52,924 +22%
BCM
20
Bridgeway Capital Management
Texas
$2.01M
Northern Trust
21
Northern Trust
Illinois
$1.94M +$326K +46,160 +23%
Citadel Advisors
22
Citadel Advisors
Florida
$1.77M +$216K +30,590 +15%
Charles Schwab
23
Charles Schwab
California
$1.64M -$818 -116 -0.1%
Millennium Management
24
Millennium Management
New York
$1.6M -$227K -32,126 -13%
MGIA
25
Moneta Group Investment Advisors
Missouri
$1.58M

LAW Hedge Fund Activity: Q4 2025 in Review

126 of the 8,223 institutional investors tracked by Wall St. Rank reported a position in CS Disco (LAW) for Q4 2025, worth a combined $282M — up 27% from $222M a quarter earlier.

Buyers outnumbered sellers: 21 funds opened new LAW positions and 8 closed out — a net gain of 13 holders — while 51 added to existing stakes and 33 trimmed.

The largest buyer was Nuveen, adding an estimated $1.46M. The largest seller was ArrowMark Colorado Holdings, cutting an estimated $1.01M.

  • 126 institutional investors held CS Disco (LAW) as of Q4 2025, up from 116 in Q3 2025.
  • Funds reported $282M of CS Disco stock for Q4 2025, up 27% quarter-over-quarter.
  • 21 funds opened new CS Disco positions in Q4 2025 and 8 closed out, a net change of +13 holders.
  • The largest CS Disco buyer in Q4 2025 was Nuveen, an estimated $1.46M added.
  • The largest CS Disco seller in Q4 2025 was ArrowMark Colorado Holdings, an estimated $1.01M sold.

Based on aggregated 13F filings for Q4 2025.