Light & Wonder
LNW was delisted on the 12th of November, 2025.
261 hedge funds and large institutions have $6.23B invested in Light & Wonder in 2023 Q4 according to their latest regulatory filings, with 68 funds opening new positions, 77 increasing their positions, 90 reducing their positions, and 17 closing their positions.
300% more first-time investments, than exits
New positions opened: 68 | Existing positions closed: 17
87% more call options, than puts
Call options by funds: $42.4M | Put options by funds: $22.6M
24% more funds holding
Funds holding: 211 → 261 (+50)
20% more capital invested
Capital invested by funds: $5.21B → $6.23B (+$1.02B)
4.29% more ownership
Funds ownership: 80.02% → 84.31% (+4.3%)
14% less repeat investments, than reductions
Existing positions increased: 77 | Existing positions reduced: 90
33% less funds holding in top 10
Funds holding in top 10: 9 → 6 (-3)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Morgan Stanley
New York
|
+$286M |
| 2 |
Goldman Sachs
New York
|
+$35.2M |
| 3 |
BlackRock
New York
|
+$32M |
| 4 |
T. Rowe Price Associates
Baltimore,
Maryland
|
+$26.2M |
| 5 |
Deutsche Bank
Frankfurt Am Main Ge,
Germany
|
+$17.9M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Norges Bank
Oslo,
Norway
|
-$36.3M |
| 2 |
PWAM
Park West Asset Management
San Francisco,
California
|
-$35.7M |
| 3 |
WU
Washington University
St Louis,
Missouri
|
-$30M |
| 4 |
FCP
Fine Capital Partners
New York
|
-$28M |
| 5 |
BOTOTLSJU
Board of Trustees of The Leland Stanford Junior University
Redwood City,
California
|
-$28M |
LNW Hedge Fund Activity: Q4 2023 in Review
261 of the 6,863 institutional investors tracked by Wall St. Rank reported a position in Light & Wonder (LNW) for Q4 2023, worth a combined $6.23B — up 20% from $5.21B a quarter earlier.
Buyers outnumbered sellers: 68 funds opened new LNW positions and 17 closed out — a net gain of 51 holders — while 77 added to existing stakes and 90 trimmed.
The largest buyer was Morgan Stanley, adding an estimated $286M. The largest seller was Norges Bank, cutting an estimated $36.3M.
- 261 institutional investors held Light & Wonder (LNW) as of Q4 2023, up from 211 in Q3 2023.
- Funds reported $6.23B of Light & Wonder stock for Q4 2023, up 20% quarter-over-quarter.
- 68 funds opened new Light & Wonder positions in Q4 2023 and 17 closed out, a net change of +51 holders.
- The largest Light & Wonder buyer in Q4 2023 was Morgan Stanley, an estimated $286M added.
- The largest Light & Wonder seller in Q4 2023 was Norges Bank, an estimated $36.3M sold.
Based on aggregated 13F filings for Q4 2023.