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DraftKings
DKNG

657 hedge funds and large institutions have $8.86B invested in DraftKings in 2023 Q3 according to their latest regulatory filings, with 138 funds opening new positions, 203 increasing their positions, 190 reducing their positions, and 68 closing their positions.

New
Increased
Maintained
Reduced
Closed

103% more first-time investments, than exits

New positions opened: 138 | Existing positions closed: 68

28% more funds holding in top 10

Funds holding in top 10: 18 → 23 (+5)

17% more capital invested

Capital invested by funds: $7.6B → $8.86B (+$1.26B)

10% more funds holding

Funds holding: 596 → 657 (+61)

2.9% more ownership

Funds ownership: 61.95% → 64.85% (+2.9%)

7% more repeat investments, than reductions

Existing positions increased: 203 | Existing positions reduced: 190

21% less call options, than puts

Call options by funds: $749M | Put options by funds: $951M

Holders
657
Holders Change
+61
Holders Change %
+10.23%
% of All Funds
10.43%
Holding in Top 10
23
Holding in Top 10 Change
+5
Holding in Top 10 Change %
+27.78%
% of All Funds
0.37%
New
138
Increased
203
Reduced
190
Closed
68
Calls
$749M
Puts
$951M
Net Calls
-$202M
Net Calls Change
-$124M

Top Buyers

Rank Fund Capital Flow
1
Massachusetts Financial Services
Massachusetts Financial Services
Massachusetts
+$108M
2
Ameriprise
Ameriprise
Minnesota
+$102M
3
Lord, Abbett & Co
Lord, Abbett & Co
New Jersey
+$92.1M
4
SC
Samlyn Capital
New York
+$88.7M
5
1832 Asset Management
1832 Asset Management
Ontario, Canada
+$78.1M

Top Sellers

Rank Fund Capital Flow
1
Two Sigma Investments
Two Sigma Investments
New York
-$114M
2
AIM
ARK Investment Management
Florida
-$101M
3
RM
Redpoint Management
California
-$88.4M
4
Millennium Management
Millennium Management
New York
-$72M
5
Citadel Advisors
Citadel Advisors
Florida
-$65.8M
Name Holding Trade Value Shares
Change 		Change in
Stake
AA
626
AlphaMark Advisors
Kentucky
$2K – – –
JWA
627
JFS Wealth Advisors
Pennsylvania
$1.8K +$1.15K +39 +177%
IFAM
628
Institutional & Family Asset Management
Colorado
$1.77K – – –
DF
629
DecisionPoint Financial
Arizona
$1.62K – – –
RF
630
Robbins Farley
New Hampshire
$1.62K +$1.63K +55 New
BFA
631
BBJS Financial Advisors
Washington
$1.47K -$1.48K -50 -50%
GAG
632
Goodman Advisory Group
Massachusetts
$1.47K – – –
RG
633
Retirement Group
California
$1.47K – – –
IHWM
634
Iron Horse Wealth Management
Iowa
$1.38K – – –
Lazard Asset Management
635
Lazard Asset Management
New York
$1K -$19.7K -666 -92%
SFG
636
Steward Financial Group
Texas
$1K +$1.45K +49 New
PP
637
Pacifica Partners
Canada
$851 – – –
ITIM
638
Indiana Trust & Investment Management
Indiana
$736 +$739 +25 New
AFS
639
Annapolis Financial Services
Maryland
$589 – – –
AAP
640
Arax Advisory Partners
Colorado
$589 – – –
RFG
641
RFP Financial Group
Georgia
$589 +$591 +20 New
AA
642
Ancora Advisors
Ohio
$442 – – –
DAM
643
Delta Asset Management
Tennessee
$442 – – –
AWA
644
Authentikos Wealth Advisory
California
$442 +$443 +15 New
FP
645
Financial Perspectives
Minnesota
$383 – – –
GWMI
646
Guardian Wealth Management (Illinois)
Illinois
$353 – – –
GWSG
647
GPS Wealth Strategies Group
Colorado
$294 – – –
TWP
648
TFO Wealth Partners
Ohio
$292 +$325 +11 New
BCM
649
Bourgeon Capital Management
Connecticut
$265 – – –
ICM
650
Islay Capital Management
Texas
$265 – – –
24 25
26
27 28

DKNG Hedge Fund Activity: Q3 2023 in Review

657 of the 6,301 institutional investors tracked by Wall St. Rank reported a position in DraftKings (DKNG) for Q3 2023, worth a combined $8.86B — up 17% from $7.6B a quarter earlier.

Buyers outnumbered sellers: 138 funds opened new DKNG positions and 68 closed out — a net gain of 70 holders — while 203 added to existing stakes and 190 trimmed.

The largest buyer was Massachusetts Financial Services, opening a new position worth an estimated $108M. The largest seller was Two Sigma Investments, cutting an estimated $114M.

  • 657 institutional investors held DraftKings (DKNG) as of Q3 2023, up from 596 in Q2 2023.
  • Funds reported $8.86B of DraftKings stock for Q3 2023, up 17% quarter-over-quarter.
  • 138 funds opened new DraftKings positions in Q3 2023 and 68 closed out, a net change of +70 holders.
  • The largest DraftKings buyer in Q3 2023 was Massachusetts Financial Services, an estimated $108M added.
  • The largest DraftKings seller in Q3 2023 was Two Sigma Investments, an estimated $114M sold.

Based on aggregated 13F filings for Q3 2023.