Caledonia reports 5.37% stake in Light & Wonder

Light & Wonder, Inc. (LNWO) reports that investment entities affiliated with Caledonia have filed Amendment No. 13 to a Schedule 13G disclosing a beneficial ownership of 4,131,343 shares of common stock, representing 5.37% of the class.

Rhea-AI Filing Summary

Light & Wonder, Inc. (LNWO) reports that investment entities affiliated with Caledonia have filed Amendment No. 13 to a Schedule 13G disclosing a beneficial ownership of 4,131,343 shares of common stock, representing 5.37% of the class. Caledonia (Private) Investments Pty Limited and Caledonia US, LP report no sole voting or dispositive power and instead hold shared voting and shared dispositive power over all 4,131,343 shares. The filing reflects a passive-style ownership report rather than a control filing and is signed by Matthew Moses as General Counsel for the reporting persons.

Key Figures

Shares beneficially owned: 4,131,343 shares Percent of class: 5.37% Shared voting power: 4,131,343 shares +3 more

6 metrics

Shares beneficially owned 4,131,343 shares Beneficial ownership of Light & Wonder, Inc. common stock reported in Item 4(a)

Percent of class 5.37% Percentage of Light & Wonder, Inc. common stock class reported in Item 4(b)

Shared voting power 4,131,343 shares Number of shares over which the reporting persons have shared power to vote

Sole voting power 0 shares Number of shares over which the reporting persons have sole power to vote

Shared dispositive power 4,131,343 shares Number of shares over which the reporting persons have shared power to dispose

Sole dispositive power 0 shares Number of shares over which the reporting persons have sole power to dispose

Key Terms

Schedule 13G, beneficially owned, shared voting power, dispositive power

4 terms

Schedule 13G regulatory

"Caledonia have filed Amendment No. 13 to a Schedule 13G disclosing"

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

beneficially owned financial

"Amount beneficially owned: 4,131,343"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

shared voting power financial

"Shared power to vote or to direct the vote: 4,131,343"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

dispositive power financial

"Shared power to dispose or to direct the disposition of: 4,131,343"

Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.

FAQ

What percentage of Light & Wonder, Inc. (LNWO) does Caledonia report owning in this Schedule 13G/A?

Caledonia reports beneficial ownership of 5.37% of Light & Wonder, Inc.’s common stock, based on 4,131,343 shares as stated in the ownership section.

How many LNWO shares does Caledonia beneficially own according to Amendment No. 13?

Caledonia reports 4,131,343 shares of Light & Wonder, Inc. common stock as beneficially owned, with shared voting and dispositive power over the entire amount.

Does Caledonia have sole or shared voting power over its LNWO shares?

Caledonia reports 0 shares with sole voting power and 4,131,343 shares with shared voting power in Light & Wonder, Inc.

Which entities filed this Schedule 13G/A for Light & Wonder, Inc. (LNWO)?

The filing is made by Caledonia (Private) Investments Pty Limited, organized in Australia, and Caledonia US, LP, organized in Delaware, as joint reporting persons.

What dispositive power does Caledonia report over its LNWO holdings?

Caledonia reports 0 shares with sole dispositive power and 4,131,343 shares with shared dispositive power in Light & Wonder, Inc. common stock.

When was this Amendment No. 13 to Schedule 13G for LNWO signed?

The amendment was signed on 08/31/2026 by Matthew Moses, General Counsel, on behalf of the reporting persons.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 08/31/2026 - 04:37 PM Accepted by SEC EDGAR 08/31/2026 - 04:36 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 13)

Light & Wonder, Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

80874P109

(CUSIP Number)

08/31/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 80874P109

1

Names of Reporting Persons

Caledonia (Private) Investments Pty Limited

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

AUSTRALIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 4,141,343.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,141,343.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,141,343.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.37 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

CUSIP Number(s): 80874P109

1

Names of Reporting Persons

Caledonia US, LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 4,141,343.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 4,141,343.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

4,141,343.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.37 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Light & Wonder, Inc.
(b)	Address of issuer's principal executive offices: 6601 Bermuda Road, Las Vegas, NV 89119
Item 2.
(a)	Name of person filing: Caledonia (Private) Investments Pty Limited Caledonia US, LP
(b)	Address or principal business office or, if none, residence: Caledonia (Private) Investments Pty Limited: Level 10, 131 Macquarie Street Sydney, NSW, 2000, Australia Caledonia US, LP 27th Floor, 1133 Avenue of the Americas New York, NY,10036
(c)	Citizenship: Caledonia (Private) Investments Pty Limited - Australia Caledonia US, LP - Delaware
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 80874P109
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 4,131,343
(b)	Percent of class: 5.37%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 4,131,343
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 4,131,343
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Caledonia (Private) Investments Pty Limited

Signature:	/s/ Matthew Moses
Name/Title:	Matthew Moses, General Counsel
Date:	08/31/2026

Caledonia US, LP

Signature:	/s/ Matthew Moses
Name/Title:	Matthew Moses, General Counsel
Date:	08/31/2026