Light & Wonder, Inc.
LNW • NASDAQ
Light & Wonder, Inc. is a gambling, resorts & casinos company in the consumer cyclical sector on NASDAQ, led by Matthew Wilson, with a market cap of $7.0B. As of Q3 2025, 69% of shares are held by 280 institutional investors, with BlackRock, Inc. as the largest holder at 9.73%.
President and Chief Executive OfficerMatthew Wilson
Market Cap$7.0B
Gambling, Resorts & Casinos
Consumer Cyclical
Employees6.5K
Websitelnw.com
Country
United States of America
Overview
Overview of institutional ownership in LNW as of Q3 2025 with a market cap of $7.0B
All Institutions
- Institutions
- 280
- Value Held
- $4.8B
- Shares Held
- 57.5M
- Avg Position
- $17.3M
- Median Position
- $718.2K
Hedge Funds
- Hedge Funds
- 40
- Value Held
- $1.1B
- Shares Held
- 12.8M
- Avg Position
- $26.8M
- Median Position
- $1.4M
Ownership Breakdown
Based on market cap of $7.0B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.
Biggest Investors
Institutions with the largest positions in LNW as of Q3 2025
| Institution | Position Value |
|---|---|
B BlackRock, Inc. Institution | $685.4M 0.01% of portfolio |
 VANGUARD GROUP INC Institution | $666.0M 0.01% of portfolio |
F Fine Capital Partners, L.P. Hedge Fund•Long/Short | $563.3M 100.00% of portfolio |
C | $243.7M 38.72% of portfolio |
 STATE STREET CORP Institution | $209.5M 0.01% of portfolio |
 UBS Group AG Institution | $186.7M 0.04% of portfolio |
 Capital Research Global Investors RIA/Wealth | $166.8M 0.03% of portfolio |
 Caledonia Investments Pty Ltd Hedge Fund•Long/Short | $160.8M 2.61% of portfolio |
 GEODE CAPITAL MANAGEMENT LLC ETF Provider | $139.7M 0.01% of portfolio |
 Burgundy Asset Management Ltd. Long Only Manager | $125.8M 1.19% of portfolio |
Net Capital Flow
Institutional buying and selling activity for LNW in Q3 2025
- Traded
- +$280.9M
- Buyers
- 144
- Sellers
- 149
- Total Bought
- +$725.6M
- Total Sold
- −$444.7M
- Avg Position
- $14.6M
Biggest Buyers
| Institution | Net Bought |
|---|---|
Caledonia Investments Pty Ltd Hedge Fund•Long/Short | +$101.5M +1.2M shares |
UBS Group AG Institution | +$79.8M +950.9K shares |
 Engine Capital Management, LLC Hedge Fund•Event Driven | +$60.9M +725.9K shares |
C | +$52.9M +630.0K shares |
Capital Research Global Investors RIA/Wealth | +$50.4M +600.1K shares |
 GOLDMAN SACHS GROUP INC Institution | +$49.6M +590.8K shares |
H HARVARD MANAGEMENT CO INC Institution | +$42.3M +503.8K shares |
 CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy | +$36.2M +431.5K shares |
T Turiya Advisors Asia Ltd Institution | +$33.5M +399.1K shares |
 AQR CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy | +$30.2M +359.6K shares |
Biggest Sellers
| Institution | Net Sold |
|---|---|
F Fine Capital Partners, L.P. Hedge Fund•Long/Short | −$53.2M −634.3K shares |
D D. E. Shaw & Co., Inc. Institution | −$45.3M −470.7K shares |
S Stone House Capital Management, LLC Institution | −$42.5M −505.8K shares |
I ING GROEP NV Institution | −$41.6M −495.0K shares |
 WEDGE CAPITAL MANAGEMENT L L P/NC Long Only Manager | −$40.1M −416.1K shares |
Burgundy Asset Management Ltd. Long Only Manager | −$25.1M −271.9K shares |
VANGUARD GROUP INC Institution | −$17.6M −209.6K shares |
 Empowered Funds, LLC ETF Provider | −$16.3M −169.8K shares |
 Smith Group Asset Management, LLC Long Only Manager | −$14.9M −154.7K shares |
C Capitolis Liquid Global Markets LLC Private Equity | −$14.7M −175.0K shares |
Entry and Exit Activity
Institutions that initiated new positions or completely exited LNW in Q3 2025
- New Positions
- 19
- New Value
- $7.6M
- Exited Positions
- 51
- Exited Value
- $163.3M
New Positions
| Institution | Position Value |
|---|---|
 Brandywine Global Investment Management, LLC Long Only Manager | $2.1M 25.0K shares |
 MANGROVE PARTNERS Hedge Fund•Multi-Strategy | $1.3M 15.5K shares |
 CIBELLI CAPITAL MANAGEMENT LLC Hedge Fund•Activist | $1.0M 12.5K shares |
F Freestone Grove Partners LP Hedge Fund•Multi-Strategy | $570.6K 6.8K shares |
P Polymer Capital Management LLC Hedge Fund•Multi-Strategy | $548.9K 6.5K shares |
P Perbak Capital Partners LLP Institution | $466.6K 5.6K shares |
 WORLDQUANT MILLENNIUM QUANTITATIVE STRATEGIES LLC Hedge Fund•Multi-Strategy | $434.3K 5.2K shares |
 ISAM Funds Ltd Hedge Fund•Quant | $375.0K 4.5K shares |
G Ground Swell Capital, LLC Hedge Fund•Multi-Strategy | $302.4K 3.6K shares |
 Summit Trail Advisors, LLC RIA/Wealth | $234.0K 2.8K shares |
Exited Positions
| Institution | Previous Position |
|---|---|
D D. E. Shaw & Co., Inc. Institution | $45.3M 470.7K shares |
WEDGE CAPITAL MANAGEMENT L L P/NC Long Only Manager | $40.1M 416.1K shares |
Empowered Funds, LLC ETF Provider | $16.3M 169.8K shares |
Smith Group Asset Management, LLC Long Only Manager | $14.9M 154.7K shares |
 VAUGHAN NELSON INVESTMENT MANAGEMENT, L.P. Long Only Manager | $13.8M 142.9K shares |
T TEXAS PERMANENT SCHOOL FUND Institution | $4.3M 45.0K shares |
 ALGERT COLDIRON INVESTORS LLC Hedge Fund•Quant | $3.1M 31.8K shares |
 SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity | $3.0M 31.2K shares |
 Weiss Asset Management LP Hedge Fund•Multi-Strategy | $1.9M 19.3K shares |
H HRT FINANCIAL LLC Institution | $1.7M 17.8K shares |
Options Activity
Institutions with the largest Call and Put options positions in LNW as of Q3 2025
- Call Positions
- 6
- Call Value
- $15.1M
- Put Positions
- 7
- Put Value
- $14.3M
Call Positions
| Institution | Position Value |
|---|---|
T Twin Tree Management, LP Hedge Fund•Vol Arbitrage | $9.8M 1.2K contracts |
W WOLVERINE TRADING, LLC Institution | $2.0M 237.0 contracts |
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity | $2.0M 239.0 contracts |
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy | $1.1M 137.0 contracts |
 Walleye Trading LLC RIA/Wealth | $142.7K 17.0 contracts |
J JANE STREET GROUP, LLC Institution | - - contracts |
Put Positions
| Institution | Position Value |
|---|---|
T Twin Tree Management, LP Hedge Fund•Vol Arbitrage | $10.6M 1.3K contracts |
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy | $1.7M 208.0 contracts |
W WOLVERINE TRADING, LLC Institution | $624.7K 73.0 contracts |
Walleye Trading LLC RIA/Wealth | $579.2K 69.0 contracts |
 Walleye Trading Advisors, LLC Hedge Fund•Multi-Strategy | $394.5K 47.0 contracts |
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity | $335.8K 40.0 contracts |
P PEAK6 LLC Institution | - - contracts |
Most Committed Institutions
Institutions with LNW as the highest % of their portfolio as of Q3 2025
| Institution | Portfolio Weight |
|---|---|
F Fine Capital Partners, L.P. Hedge Fund•Long/Short | 100.00% $563.3M |
S Stone House Capital Management, LLC Institution | 39.48% $33.1M |
C | 38.72% $243.7M |
T Turiya Advisors Asia Ltd Institution | 20.39% $77.0M |
Engine Capital Management, LLC Hedge Fund•Event Driven | 9.61% $80.9M |
H HARVARD MANAGEMENT CO INC Institution | 4.49% $94.5M |
X XY Capital Ltd Institution | 4.32% $4.9M |
 Park West Asset Management LLC Hedge Fund•Multi-Strategy | 2.84% $31.1M |
 IRIDIAN ASSET MANAGEMENT LLC/CT Hedge Fund•Long/Short | 2.68% $6.8M |
2.62% $22.3M |
Hedge Fund Spotlight
Discover hedge funds investing in LNW
G
Ground Swell Capital, LLC
Hedge Fund • Multi-Strategy
Portfolio ManagerJoey Howard Foxhall
- Portfolio Value
- $45.8M
- Positions
- 129
- Last Reported
- Q3 2025
Sector Allocation
Position in Light & Wonder, Inc.
- Market Value
- $302.4K
- Shares Held
- 3.6K
- Portfolio Weight
- 0.66%
- Owned Since
- 2025-Q3
| Top Holding | Sector | Market Value | Weight |
|---|---|---|---|
ETF ETF | $1.8M | 3.97% | |
ETF ETF | $1.8M | 3.86% | |
ETF ETF | $1.7M | 3.74% |
