Dave & Buster's
PLAY
187 hedge funds and large institutions have $800M invested in Dave & Buster's in 2025 Q1 according to their latest regulatory filings, with 31 funds opening new positions, 63 increasing their positions, 60 reducing their positions, and 36 closing their positions.
59% more call options, than puts
Call options by funds: $54M | Put options by funds: $34M
5% more repeat investments, than reductions
Existing positions increased: 63 | Existing positions reduced: 60
3% less funds holding
Funds holding: 192 → 187 (-5)
7.93% less ownership
Funds ownership: 126.22% → 118.29% (-7.9%)
14% less first-time investments, than exits
New positions opened: 31 | Existing positions closed: 36
44% less capital invested
Capital invested by funds: $1.42B → $800M (-$618M)
50% less funds holding in top 10
Funds holding in top 10: 6 → 3 (-3)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Healthcare of Ontario Pension Plan (HOOPP) Trust Fund
Toronto,
Ontario, Canada
|
+$22.6M |
| 2 |
CM
CastleKnight Management
New York
|
+$10.4M |
| 3 |
PCM
Patient Capital Management
Baltimore,
Maryland
|
+$10M |
| 4 |
Millennium Management
New York
|
+$6.51M |
| 5 |
LSV Asset Management
Chicago,
Illinois
|
+$5.64M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
OAM
Ophir Asset Management
Sydney,
Australia
|
-$23.7M |
| 2 |
EC
Eminence Capital
New York
|
-$22.3M |
| 3 |
Arrowstreet Capital
Boston,
Massachusetts
|
-$18.2M |
| 4 |
Vanguard Group
Malvern,
Pennsylvania
|
-$18M |
| 5 |
American Century Companies
Kansas City,
Missouri
|
-$14M |
PLAY Hedge Fund Activity: Q1 2025 in Review
187 of the 7,471 institutional investors tracked by Wall St. Rank reported a position in Dave & Buster's (PLAY) for Q1 2025, worth a combined $800M — down 44% from $1.42B a quarter earlier.
Sellers outnumbered buyers: 36 funds closed out of PLAY and 31 opened new positions — a net loss of 5 holders — while 60 trimmed existing stakes and 63 added.
The largest buyer was Healthcare of Ontario Pension Plan (HOOPP) Trust Fund, adding an estimated $22.6M. The largest seller was Ophir Asset Management, exiting entirely with an estimated $23.7M sold.
- 187 institutional investors held Dave & Buster's (PLAY) as of Q1 2025, down from 192 in Q4 2024.
- Funds reported $800M of Dave & Buster's stock for Q1 2025, down 44% quarter-over-quarter.
- 31 funds opened new Dave & Buster's positions in Q1 2025 and 36 closed out, a net change of -5 holders.
- The largest Dave & Buster's buyer in Q1 2025 was Healthcare of Ontario Pension Plan (HOOPP) Trust Fund, an estimated $22.6M added.
- The largest Dave & Buster's seller in Q1 2025 was Ophir Asset Management, an estimated $23.7M sold.
Based on aggregated 13F filings for Q1 2025.