Light & Wonder
LNW was delisted on the 12th of November, 2025.
29 hedge funds and large institutions have $134M invested in Light & Wonder in 2025 Q4 according to their latest regulatory filings, with 6 funds opening new positions, 5 increasing their positions, 12 reducing their positions, and 261 closing their positions.
58% less repeat investments, than reductions
Existing positions increased: 5 | Existing positions reduced: 12
67.01% less ownership
Funds ownership: 68.56% → 1.55% (-67%)
75% less call options, than puts
Call options by funds: $31K | Put options by funds: $124K
90% less funds holding
Funds holding: 288 → 29 (-259)
97% less capital invested
Capital invested by funds: $4.84B → $134M (-$4.71B)
98% less first-time investments, than exits
New positions opened: 6 | Existing positions closed: 261
100% less funds holding in top 10
Funds holding in top 10: 9 → 0 (-9)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Marshall Wace
London,
United Kingdom
|
+$707K |
| 2 |
Simplex Trading
Chicago,
Illinois
|
+$288K |
| 3 |
ATPW
Ashton Thomas Private Wealth
Scottsdale,
Arizona
|
+$43.6K |
| 4 |
Rockefeller Capital Management
New York
|
+$18K |
| 5 |
UB
UMB Bank
Kansas City,
Missouri
|
+$17.3K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
BlackRock
New York
|
-$685M |
| 2 |
Vanguard Group
Malvern,
Pennsylvania
|
-$666M |
| 3 |
State Street
Boston,
Massachusetts
|
-$209M |
| 4 |
UBS Group
Zurich,
Switzerland
|
-$187M |
| 5 |
Capital Research Global Investors
Los Angeles,
California
|
-$167M |
LNW Hedge Fund Activity: Q4 2025 in Review
29 of the 8,229 institutional investors tracked by Wall St. Rank reported a position in Light & Wonder (LNW) for Q4 2025, worth a combined $134M — down 97% from $4.84B a quarter earlier.
Sellers outnumbered buyers: 261 funds closed out of LNW and 6 opened new positions — a net loss of 255 holders — while 12 trimmed existing stakes and 5 added.
The largest buyer was Marshall Wace, opening a new position worth an estimated $707K. The largest seller was BlackRock, exiting entirely with an estimated $685M sold.
- 29 institutional investors held Light & Wonder (LNW) as of Q4 2025, down from 288 in Q3 2025.
- Funds reported $134M of Light & Wonder stock for Q4 2025, down 97% quarter-over-quarter.
- 6 funds opened new Light & Wonder positions in Q4 2025 and 261 closed out, a net change of -255 holders.
- The largest Light & Wonder buyer in Q4 2025 was Marshall Wace, an estimated $707K added.
- The largest Light & Wonder seller in Q4 2025 was BlackRock, an estimated $685M sold.
Based on aggregated 13F filings for Q4 2025.