Dave & Buster's
PLAY
187 hedge funds and large institutions have $673M invested in Dave & Buster's in 2025 Q4 according to their latest regulatory filings, with 38 funds opening new positions, 62 increasing their positions, 61 reducing their positions, and 34 closing their positions.
51% more call options, than puts
Call options by funds: $31.3M | Put options by funds: $20.8M
12% more first-time investments, than exits
New positions opened: 38 | Existing positions closed: 34
2% more repeat investments, than reductions
Existing positions increased: 62 | Existing positions reduced: 61
1% less funds holding
Funds holding: 188 → 187 (-1)
2.47% less ownership
Funds ownership: 122.19% → 119.72% (-2.5%)
12% less capital invested
Capital invested by funds: $769M → $673M (-$95.4M)
67% less funds holding in top 10
Funds holding in top 10: 3 → 1 (-2)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
MSE
MUFG Securities EMEA
London,
United Kingdom
|
+$7.6M |
| 2 |
IG
ING Group
Amsterdam,
Netherlands
|
+$7.54M |
| 3 |
SG Americas Securities
New York
|
+$7.42M |
| 4 |
Healthcare of Ontario Pension Plan (HOOPP) Trust Fund
Toronto,
Ontario, Canada
|
+$7.26M |
| 5 |
National Bank of Canada
Montreal,
Quebec, Canada
|
+$6.66M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Barrow, Hanley, Mewhinney & Strauss
Dallas,
Texas
|
-$23.5M |
| 2 |
CC
Clearline Capital
New York
|
-$15.7M |
| 3 |
IGM
Incline Global Management
New York
|
-$12.9M |
| 4 |
PCM
Patient Capital Management
Baltimore,
Maryland
|
-$7.93M |
| 5 |
Vanguard Group
Malvern,
Pennsylvania
|
-$7.84M |
PLAY Hedge Fund Activity: Q4 2025 in Review
187 of the 8,267 institutional investors tracked by Wall St. Rank reported a position in Dave & Buster's (PLAY) for Q4 2025, worth a combined $673M — down 12% from $769M a quarter earlier.
Buyers outnumbered sellers: 38 funds opened new PLAY positions and 34 closed out — a net gain of 4 holders — while 62 added to existing stakes and 61 trimmed.
The largest buyer was MUFG Securities EMEA, opening a new position worth an estimated $7.6M. The largest seller was Barrow, Hanley, Mewhinney & Strauss, exiting entirely with an estimated $23.5M sold.
- 187 institutional investors held Dave & Buster's (PLAY) as of Q4 2025, down from 188 in Q3 2025.
- Funds reported $673M of Dave & Buster's stock for Q4 2025, down 12% quarter-over-quarter.
- 38 funds opened new Dave & Buster's positions in Q4 2025 and 34 closed out, a net change of +4 holders.
- The largest Dave & Buster's buyer in Q4 2025 was MUFG Securities EMEA, an estimated $7.6M added.
- The largest Dave & Buster's seller in Q4 2025 was Barrow, Hanley, Mewhinney & Strauss, an estimated $23.5M sold.
Based on aggregated 13F filings for Q4 2025.