Harvard University Stock Portfolio: Top 5 Picks

3. Light & Wonder, Inc. (NASDAQ:LNW)

Harvard Management Company’s Stake Value: $125,866,000

Number of Hedge Fund Holders: 27

Light & Wonder, Inc. (NASDAQ:LNW) was incorporated in 1984 and is based in Las Vegas, Nevada. The company provides technology-based products, services, and content for the gaming, lottery, social, and digital gaming industries in the United States and internationally. In Q2 2022, Harvard Management Company owned 2.6 million Light & Wonder, Inc. (NASDAQ:LNW) shares worth $125.8 million, representing 14.57% of the total holdings. 

On October 6, Light & Wonder, Inc. (NASDAQ:LNW) announced that it had acquired all assets of House Advantage, a company that develops loyalty solutions for the gaming and hospitality industries, in a cash deal. The acquisition strengthens Light & Wonder, Inc. (NASDAQ:LNW)’s systems business with differentiated omni-channel player loyalty solutions.

Craig-Hallum analyst Ryan Sigdahl on August 10 maintained a Buy rating on Light & Wonder, Inc. (NASDAQ:LNW) but slashed the price target on the shares to $90 from $105 to reflect multiple compression amongst the peer group.

According to Insider Monkey’s data, 27 hedge funds were bullish on Light & Wonder, Inc. (NASDAQ:LNW) at the end of June 2022, compared to 34 funds in the last quarter. Debra Fine’s Fine Capital Partners is the biggest position holder in the company, with 9.5 million shares worth $445.4 million. 

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