Last week, the nation’s money managers filed Q3 Form 13Fs with the SEC.

The KKR 13-F emerged last week.

Managers must submit 13-Fs every quarter.

These forms list all the securities they own for themselves and their investors. By comparing the new filing every quarter to the previous one, we can get a glimpse at what the best (and the worst) money managers are doing with the cash under their control.

Kohlberg Kravis and Roberts have been a leading private equity firm for decades now. They have been involved in several headline-making deals over the years and are currently said to be considering an offer for Walgreens Boots (WAB), the large pharmacy chain. Their track record in the public markets has also been strong as my research shows that owning their top holdings beats the market by a 2 to 1 margin since 2008.

Insider the KKR 13-F

KKR’s largest position right now is Fiserv (FISV), the financial technology company. They got the shares in the sale of KKR portfolio company, First Data, which closed back in July. It is an $11 billion position for KKR, and I have to assume they will want to reduce their holdings overtime to return cash to investors. I don’t think we should view this as an investment that they made based on fundamentals and a desire to own it for an extended time.

KKR did add to their position in the dining and entertainment company Dave and Busters (PLAY). This is an interesting purchase as the Dave and Busters was once owned by another private equity firm, Oak Hill Capital Partners, and had an IPO back in 2014. The company has been growing earnings by 20% annually over the past five years, and analysts that follow the company expect that to continue for the next five. The recent purchase gives KKR a total of a $31 million investment in Dave and Busters.

The private equity giant also continued buying shares of casino REIT VICI Properties (VICI). VICI owns casinos that are leased back to casino operators including Caesars Entertainment Corporation (CZR), Penn National Gaming (PENN), and Hard Rock International. VICI has been expanding by acquisition. It recently announced a deal to acquire JACK Cleveland Casino, located in downtown Cleveland, Ohio, and JACK Thistledown Racino just outside of that city. The deal is a sale-leaseback, and the operators have signed a 15-year lease with VICI.

The 10 Largest Holdings of KKR

KKRs 10 largest holding at the end of the quarter, not including Fiserv, were:

• Gardner Denver Holdings (GDI)
• Brightview Holdings (BV)
• BridgeBio Pharma (BBIO)
• KKR Real Estate Finance (KREF)
• Sonos Incorporated (SONO)
• Science Applications International (SAIC)
• Focus Financial Partners (FOCS)
• Mr. Cooper Group (COOP)
• Laureate Education (LAUR)

Only Science Applications International had any activity in the third quarter. KKR sold 1.16 million shares, reducing its stake in the company to 2.86 million shares.

Related: The Blackstone Group 13-F Recap for the Third Quarter