Dave & Buster's
PLAY
188 hedge funds and large institutions have $769M invested in Dave & Buster's in 2025 Q3 according to their latest regulatory filings, with 29 funds opening new positions, 51 increasing their positions, 70 reducing their positions, and 33 closing their positions.
70% more call options, than puts
Call options by funds: $53.4M | Put options by funds: $31.4M
5.83% more ownership
Funds ownership: 116.36% → 122.19% (+5.8%)
3% less funds holding
Funds holding: 193 → 188 (-5)
12% less first-time investments, than exits
New positions opened: 29 | Existing positions closed: 33
25% less funds holding in top 10
Funds holding in top 10: 4 → 3 (-1)
27% less repeat investments, than reductions
Existing positions increased: 51 | Existing positions reduced: 70
36% less capital invested
Capital invested by funds: $1.21B → $769M (-$440M)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Nomura Holdings
Tokyo,
Japan
|
+$53.3M |
| 2 |
IGM
Incline Global Management
New York
|
+$17.6M |
| 3 |
CM
CastleKnight Management
New York
|
+$14.2M |
| 4 |
F1I
Fund 1 Investments
Rincon,
Puerto Rico
|
+$11.3M |
| 5 |
UBS Group
Zurich,
Switzerland
|
+$7.75M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Millennium Management
New York
|
-$17.3M |
| 2 |
EC
Eminence Capital
New York
|
-$14.3M |
| 3 |
Point72 Asset Management
Stamford,
Connecticut
|
-$10.7M |
| 4 |
JP Morgan Chase
New York
|
-$6.7M |
| 5 |
Goldman Sachs
New York
|
-$6.7M |
PLAY Hedge Fund Activity: Q3 2025 in Review
188 of the 7,619 institutional investors tracked by Wall St. Rank reported a position in Dave & Buster's (PLAY) for Q3 2025, worth a combined $769M — down 36% from $1.21B a quarter earlier.
Sellers outnumbered buyers: 33 funds closed out of PLAY and 29 opened new positions — a net loss of 4 holders — while 70 trimmed existing stakes and 51 added.
The largest buyer was Nomura Holdings, adding an estimated $53.3M. The largest seller was Millennium Management, cutting an estimated $17.3M.
- 188 institutional investors held Dave & Buster's (PLAY) as of Q3 2025, down from 193 in Q2 2025.
- Funds reported $769M of Dave & Buster's stock for Q3 2025, down 36% quarter-over-quarter.
- 29 funds opened new Dave & Buster's positions in Q3 2025 and 33 closed out, a net change of -4 holders.
- The largest Dave & Buster's buyer in Q3 2025 was Nomura Holdings, an estimated $53.3M added.
- The largest Dave & Buster's seller in Q3 2025 was Millennium Management, an estimated $17.3M sold.
Based on aggregated 13F filings for Q3 2025.