LIGHT & WONDER INC LNWO
COM · Common Stock · CUSIP 80874P109
American electronic gaming and gambling company
- SectorTechnology
- IndustryServices-Computer Integrated Systems Design
- HeadquartersLas Vegas, NV
- Founded1973
- Websitescientificgames.com
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($8.3m this quarter). Holder counts are more reliable. Shares outstanding: 83.9m as of 2025-08-01, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $96.26. Options: 9 managers hold calls ($35.0m notional), 9 hold puts ($25.1m).
Trends to Q2 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 206 |
| Q4 2022 | 211 |
| Q1 2023 | 209 |
| Q2 2023 | 211 |
| Q3 2023 | 213 |
| Q4 2023 | 263 |
| Q1 2024 | 265 |
| Q2 2024 | 278 |
| Q3 2024 | 288 |
| Q4 2024 | 261 |
| Q1 2025 | 282 |
| Q2 2025 | 284 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2023 | 96 | 110 |
| Q4 2023 | 132 | 108 |
| Q1 2024 | 130 | 138 |
| Q2 2024 | 137 | 132 |
| Q3 2024 | 141 | 153 |
| Q4 2024 | 88 | 180 |
| Q1 2025 | 152 | 134 |
| Q2 2025 | 135 | 164 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2024 | $30.9m | $18.3m | 0.59 |
| Q4 2024 | $40.8m | $15.9m | 0.39 |
| Q1 2025 | $33.4m | $22.1m | 0.66 |
| Q2 2025 | $35.0m | $25.1m | 0.72 |
Biggest buyers
| CONSOLIDATED PRESS INTERNATIONAL HOLDINGS LTD | New | +2.3m |
| Turiya Advisors Asia Ltd | New | +518.5k |
| UBS Group AG | Added | +508.9k |
| Balyasny Asset Management L.P. | Added | +325.8k |
| Capital International Investors | New | +204.1k |
| Clearbridge Investments, LLC | Added | +179.4k |
| ROYAL BANK OF CANADA | Added | +171.3k |
| Empowered Funds, LLC | New | +169.8k |
| CITADEL ADVISORS LLC | Added | +162.3k |
| Verition Fund Management LLC | New | +159.0k |
Biggest sellers
| MORGAN STANLEY | Reduced | -2.1m |
| Caledonia (Private) Investments Pty Ltd | Reduced | -1.9m |
| Ninety One UK Ltd | Sold out | -1.2m |
| FMR LLC | Reduced | -631.2k |
| DEUTSCHE BANK AG\ | Reduced | -570.7k |
| Fine Capital Partners, L.P. | Reduced | -443.4k |
| HARVARD MANAGEMENT CO INC | Reduced | -437.5k |
| Broad Peak Investment Advisers Pte Ltd | Sold out | -242.0k |
| BlackRock, Inc. | Reduced | -200.0k |
| STATE STREET CORP | Reduced | -191.5k |
Biggest calls
| Twin Tree Management, LP | Reduced | $19.0m197.1k shares |
| JANE STREET GROUP, LLC | Added | $7.6m78.6k shares |
| CITADEL ADVISORS LLC | Reduced | $3.2m32.8k shares |
| Walleye Trading LLC | Added | $2.1m22.3k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $1.3m13.5k shares |
| IMC-Chicago, LLC | Reduced | $1.3m13.0k shares |
| SIMPLEX TRADING, LLC | Added | $336.0k3.5k shares |
| GROUP ONE TRADING LLC | New | $317.7k3.3k shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Biggest puts
| Twin Tree Management, LP | Added | $22.2m230.8k shares |
| CITADEL ADVISORS LLC | Reduced | $1.1m11.4k shares |
| Walleye Trading LLC | Added | $779.7k8.1k shares |
| Walleye Capital LLC | New | $548.7k5.7k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $250.3k2.6k shares |
| SIMPLEX TRADING, LLC | Added | $154.0k1.6k shares |
| PEAK6 LLC | Added | $57.8k600 shares |
| GROUP ONE TRADING LLC | New | $9.6k100 shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| Fine Capital Partners, L.P. 13G · passive investor filed 2025-11-07 | 10.1% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-05-01 | 5.7% |
| Caledonia (Private) Investments Pty Ltd 13G · institution -4.3 pts · filed 2026-08-31 | 5.4% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-27; now reported by VANGUARD CAPITAL MANAGEMENT LLC), BlackRock, Inc. (0.9%, 2026-01-21)
Insider purchases and sales in Q2 2025
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q3 2023 | 1 | $12.8k | 1 | $160.7k | — |
| Q4 2023 | 0 | — | 1 | $50.8k | — |
| Q1 2024 | 0 | — | 5 | $1.7m | — |
| Q2 2024 | 1 | $13.2k | 0 | — | — |
| Q3 2024 | 0 | — | 0 | — | — |
| Q4 2024 | 0 | — | 0 | — | — |
| Q1 2025 | 0 | — | 6 | $3.5m | — |
| Q2 2025 | 0 | — | 0 | — | — |
None reported in Q2 2025.
Holders, Q2 2025
| Manager | Shares | Change |
|---|---|---|
| BlackRock, Inc. 0.02% of their portfolio | 8.2m $787.0m | Reduced -200.0k |
| VANGUARD GROUP INC 0.01% of their portfolio | 8.1m $783.9m | Reduced -27.7k |
| Fine Capital Partners, L.P. 100.00% of their portfolio | 7.3m $707.0m | Reduced -443.4k |
| STATE STREET CORP 0.01% of their portfolio | 2.5m $244.6m | Reduced -191.5k |
| CONSOLIDATED PRESS INTERNATIONAL HOLDINGS LTD 36.42% of their portfolio | 2.3m $218.9m | New |
| Burgundy Asset Management Ltd. 1.53% of their portfolio | 1.6m $157.2m | Added +58.0k |
| GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 1.6m $156.2m | Reduced -56.9k |
| BESSEMER GROUP INC 0.23% of their portfolio | 1.5m $141.5m | Reduced -102.3k |
| Capital Research Global Investors 0.03% of their portfolio | 1.4m $133.5m | Added +34.7k |
| UBS Group AG 0.03% of their portfolio | 1.3m $122.6m | Added +508.9k |
| NORGES BANK 0.01% of their portfolio | 1.0m $99.4m | Reduced -29.1k |
| Stone House Capital Management, LLC 74.60% of their portfolio | 900.0k $86.6m | Unchanged |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.01% of their portfolio | 890.7k $85.7m | Reduced -11.1k |
| Clearbridge Investments, LLC 0.07% of their portfolio | 876.6k $84.4m | Added +179.4k |
| DIMENSIONAL FUND ADVISORS LP 0.02% of their portfolio | 719.8k $69.3m | Reduced -6.9k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio | 719.0k $69.2m | Reduced -14.9k |
| Caledonia (Private) Investments Pty Ltd 1.08% of their portfolio | 706.8k $68.0m | Reduced -1.9m |
| NORTHERN TRUST CORP 0.01% of their portfolio | 686.8k $66.1m | Reduced -23.3k |
| HARVARD MANAGEMENT CO INC 4.17% of their portfolio | 621.4k $59.8m | Reduced -437.5k |
| Bank of New York Mellon Corp 0.01% of their portfolio | 577.5k $55.6m | Reduced -5.5k |
| ING GROEP NV 0.33% of their portfolio | 565.0k $54.4m | Reduced -17.9k |
| Turiya Advisors Asia Ltd 20.67% of their portfolio | 518.5k $49.9m | New |
| Balyasny Asset Management L.P. 0.11% of their portfolio | 486.7k $46.9m | Added +325.8k |
| AQR CAPITAL MANAGEMENT LLC 0.04% of their portfolio | 483.0k $46.5m | Added +142.7k |
| D. E. Shaw & Co., Inc. 0.05% of their portfolio | 470.7k $45.3m | Added +75.0k |
| WEDGE CAPITAL MANAGEMENT L L P/NC 0.71% of their portfolio | 416.1k $40.1m | Added +36.9k |
| FMR LLC 0.00% of their portfolio | 386.6k $37.2m | Reduced -631.2k |
| Capitolis Liquid Global Markets LLC 0.24% of their portfolio | 340.0k $32.7m | Unchanged |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.01% of their portfolio | 338.9k $32.6m | Added +99.7k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.02% of their portfolio | 331.2k $31.9m | Reduced -2.7k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 300.7k $28.9m | Added +40.4k |
| CITADEL ADVISORS LLC 0.02% of their portfolio | 290.4k $28.0m | Added +162.3k |
| Board of Trustees of The Leland Stanford Junior University 2.76% of their portfolio | 265.2k $25.5m | Unchanged |
| Engine Capital Management, LP 4.84% of their portfolio | 238.3k $22.9m | Added +62.7k |
| RHUMBLINE ADVISERS 0.02% of their portfolio | 236.1k $22.7m | Reduced -12.5k |
| MORGAN STANLEY 0.00% of their portfolio | 231.1k $22.2m | Reduced -2.1m |
| Capital International Investors 0.00% of their portfolio | 204.1k $19.7m | New |
| PRINCIPAL FINANCIAL GROUP INC 0.01% of their portfolio | 192.0k $18.5m | Reduced -12.6k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 178.5k $17.2m | Reduced -8.1k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 173.9k $16.7m | Added +171.3k |
| Empowered Funds, LLC 0.18% of their portfolio | 169.8k $16.3m | New |
| Swiss National Bank 0.01% of their portfolio | 162.5k $15.6m | Reduced -8.5k |
| Verition Fund Management LLC 0.09% of their portfolio | 159.0k $15.3m | New |
| Legal & General Group Plc 0.00% of their portfolio | 158.7k $15.3m | Added +8.0k |
| Smith Group Asset Management, LLC 0.98% of their portfolio | 154.7k $14.9m | Added +21.0k |
| CITIGROUP INC 0.01% of their portfolio | 150.0k $14.4m | Added +91.4k |
| California Public Employees Retirement System 0.01% of their portfolio | 143.2k $13.8m | Added +129 |
| VAUGHAN NELSON INVESTMENT MANAGEMENT, L.P. 0.13% of their portfolio | 142.9k $13.8m | New |
| BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio | 138.9k $13.4m | Added +85.8k |
| Nuveen, LLC 0.00% of their portfolio | 137.2k $13.2m | Reduced -64.0k |
| Invesco Ltd. 0.00% of their portfolio | 134.8k $13.0m | Reduced -16.7k |
| JANUS HENDERSON GROUP PLC 0.01% of their portfolio | 124.1k $11.9m | Added +29.6k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 107.5k $10.3m | Reduced -951 |
| BARCLAYS PLC 0.00% of their portfolio | 105.9k $10.2m | Added +40.0k |
| Retirement Systems of Alabama 0.04% of their portfolio | 103.1k $9.9m | Reduced -4.4k |
| IRIDIAN ASSET MANAGEMENT LLC/CT 2.97% of their portfolio | 89.2k $8.6m | Added +5.8k |
| MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio | 85.5k $8.2m | Added +45.7k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.01% of their portfolio | 84.0k $8.1m | Reduced -376 |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 81.9k $7.9m | Reduced -4.6k |
| Park West Asset Management LLC 0.59% of their portfolio | 80.0k $7.7m | Reduced -31.0k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.02% of their portfolio | 79.9k $7.7m | Reduced -300 |
| FEDERATED HERMES, INC. 0.01% of their portfolio | 79.5k $7.7m | Added +43.2k |
| CAPITAL FUND MANAGEMENT S.A. 0.08% of their portfolio | 73.2k $7.0m | Added +31.6k |
| Connor, Clark & Lunn Investment Management Ltd. 0.02% of their portfolio | 72.4k $7.0m | Added +40.3k |
| VOYA INVESTMENT MANAGEMENT LLC 0.01% of their portfolio | 70.5k $6.8m | Reduced -75.5k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.01% of their portfolio | 66.7k $6.4m | Added +470 |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 66.6k $6.4m | Reduced -125.8k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.01% of their portfolio | 65.0k $6.3m | Reduced -6.8k |
| NATIXIS ADVISORS, LLC 0.01% of their portfolio | 63.5k $6.1m | Added +16.7k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.01% of their portfolio | 57.8k $5.6m | Reduced -4.7k |
| SIH Partners, LLLP 0.50% of their portfolio | 54.2k $5.2m | Added +27.0k |
| MACQUARIE GROUP LTD 0.01% of their portfolio | 49.6k $4.8m | Added +30.8k |
| HighTower Advisors, LLC 0.01% of their portfolio | 49.4k $4.8m | Reduced -5.7k |
| MetLife Investment Management, LLC 0.03% of their portfolio | 49.2k $4.7m | Reduced -3.7k |
| CANADA LIFE ASSURANCE Co 0.01% of their portfolio | 47.6k $4.6m | Reduced -4.0k |
| COMERICA BANK 0.02% of their portfolio | 43.4k $4.2m | Added +4.4k |
| MUTUAL OF AMERICA CAPITAL MANAGEMENT LLC 0.04% of their portfolio | 42.0k $4.0m | Reduced -3.5k |
| AMALGAMATED BANK 0.03% of their portfolio | 40.4k $3.9m | Reduced -1.5k |
| FIRST TRUST ADVISORS LP 0.00% of their portfolio | 39.4k $3.8m | Reduced -22.1k |
| Treasurer of the State of North Carolina 0.01% of their portfolio | 38.7k $3.7m | Reduced -1.9k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio | 35.2k $3.4m | Reduced -2.5k |
| State of Tennessee, Department of Treasury 0.01% of their portfolio | 34.2k $3.3m | Unchanged |
| ALGERT GLOBAL LLC 0.06% of their portfolio | 31.8k $3.1m | Added +3.3k |
| Police & Firemen's Retirement System of New Jersey 0.03% of their portfolio | 31.4k $3.0m | Reduced -831 |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 31.2k $3.0m | Reduced -16.8k |
| State of New Jersey Common Pension Fund D 0.01% of their portfolio | 29.4k $2.8m | Reduced -49 |
| Twin Tree Management, LP 0.07% of their portfolio | 28.2k $2.7m | Added +9.8k |
| Russell Investments Group, Ltd. 0.00% of their portfolio | 28.0k $2.7m | Added +208 |
| TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY 0.02% of their portfolio | 28.0k $2.7m | Unchanged |
| NISA INVESTMENT ADVISORS, LLC 0.01% of their portfolio | 27.6k $2.7m | Reduced -27 |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.01% of their portfolio | 26.5k $2.5m | Reduced -1.5k |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 26.4k $2.5m | Reduced -570.7k |
| CIBC Private Wealth Group LLC 0.00% of their portfolio | 25.4k $2.4m | Added +6.3k |
| ARIZONA STATE RETIREMENT SYSTEM 0.01% of their portfolio | 24.8k $2.4m | Reduced -487 |
| TEACHER RETIREMENT SYSTEM OF TEXAS 0.01% of their portfolio | 24.7k $2.4m | Reduced -76 |
| DARK FOREST CAPITAL MANAGEMENT LP 0.10% of their portfolio | 24.6k $2.4m | Added +20.6k |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 24.2k $2.3m | Added +7.1k |
| Zurcher Kantonalbank (Zurich Cantonalbank) 0.01% of their portfolio | 24.1k $2.3m | Added +2.0k |
| Louisiana State Employees Retirement System 0.04% of their portfolio | 23.7k $2.3m | Reduced -1.0k |
| OP Asset Management Ltd 0.03% of their portfolio | 22.4k $2.2m | Reduced -4.9k |