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DraftKings
DKNG

836 hedge funds and large institutions have $15.2B invested in DraftKings in 2025 Q3 according to their latest regulatory filings, with 124 funds opening new positions, 299 increasing their positions, 247 reducing their positions, and 122 closing their positions.

New
Increased
Maintained
Reduced
Closed

21% more repeat investments, than reductions

Existing positions increased: 299 | Existing positions reduced: 247

7% more call options, than puts

Call options by funds: $1.26B | Put options by funds: $1.18B

2% more first-time investments, than exits

New positions opened: 124 | Existing positions closed: 122

2% less funds holding

Funds holding: 849 → 836 (-13)

2.16% less ownership

Funds ownership: 84.25% → 82.09% (-2.2%)

15% less capital invested

Capital invested by funds: $17.9B → $15.2B (-$2.69B)

47% less funds holding in top 10

Funds holding in top 10: 15 → 8 (-7)

Holders
836
Holders Change
-13
Holders Change %
-1.53%
% of All Funds
10.97%
Holding in Top 10
8
Holding in Top 10 Change
-7
Holding in Top 10 Change %
-46.67%
% of All Funds
0.11%
New
124
Increased
299
Reduced
247
Closed
122
Calls
$1.26B
Puts
$1.18B
Net Calls
+$86.6M
Net Calls Change
-$316M

Top Buyers

1
Viking Global Investors
Viking Global Investors
Connecticut
+$665M
2
AQR Capital Management
AQR Capital Management
Connecticut
+$201M
3
Squarepoint
Squarepoint
New York
+$95.7M
4
Fidelity Investments
Fidelity Investments
Massachusetts
+$86M
5
Jane Street
Jane Street
New York
+$74.4M

Top Sellers

1
Citadel Advisors
Citadel Advisors
Florida
-$310M
2
WRCM
Whale Rock Capital Management
Massachusetts
-$229M
3
Franklin Resources
Franklin Resources
California
-$201M
4
Wellington Management Group
Wellington Management Group
Massachusetts
-$169M
5
SC
Samlyn Capital
New York
-$117M
Name Holding Trade Value Shares
Change 		Change in
Stake
HCM
926
Hollencrest Capital Management
California
– -$123K -2,875 Closed
VSQM
927
V-Square Quantitative Management
Illinois
– -$93.9K -2,189 Closed
RDFA
928
Ritter Daniher Financial Advisory
Ohio
– -$58.8K -1,370 Closed
GM
929
GeoWealth Management
Illinois
– -$29.7K -692 Closed
RBI
930
Raiffeisen Bank International
Austria
– -$30.2K -680 Closed
BA
931
Bellwether Advisors
Nebraska
– -$16K -373 Closed
WCM
932
WealthTrak Capital Management
Virginia
– -$13.1K -305 Closed
TPWA
933
Twin Peaks Wealth Advisors
California
– -$10.6K -246 Closed
BFP
934
Briaud Financial Planning
Texas
– -$10K -234 Closed
LWCFA
935
Loring Wolcott & Coolidge Fiduciary Advisors
Massachusetts
– -$8.58K -200 Closed
RAM
936
Riggs Asset Management
Pennsylvania
– -$7.68K -179 Closed
EWM
937
Evolution Wealth Management
Florida
– -$6.43K -150 Closed
OW
938
Olistico Wealth
Oklahoma
– -$4.93K -115 Closed
PW
939
Pandora Wealth
Illinois
– -$4.93K -115 Closed
AAG
940
Accordant Advisory Group
Maryland
– -$4.29K -100 Closed
CIR
941
Clear Investment Research
Georgia
– -$4.29K -100 Closed
IRC
942
Investors Research Corp
Georgia
– -$4.29K -100 Closed
PSFG
943
Park Square Financial Group
Georgia
– -$4.29K -100 Closed
Kayne Anderson Rudnick Investment Management
944
Kayne Anderson Rudnick Investment Management
California
– -$2.44K -57 Closed
CAM
945
Creekmur Asset Management
Illinois
– -$2.02K -47 Closed
T
946
Transce3nd
Texas
– -$1.72K -40 Closed
CWM
947
CarsonAllaria Wealth Management
Illinois
– -$1.63K -38 Closed
SO
948
Sierra Ocean
California
– -$1.59K -37 Closed
Lazard Asset Management
949
Lazard Asset Management
New York
– -$1K -32 Closed
TSMHT
950
Thurston Springer Miller Herd & Titak
Indiana
– -$1.33K -31 Closed
35 36 37
38
39

DKNG Hedge Fund Activity: Q3 2025 in Review

836 of the 7,619 institutional investors tracked by Wall St. Rank reported a position in DraftKings (DKNG) for Q3 2025, worth a combined $15.2B — down 15% from $17.9B a quarter earlier.

Buyers outnumbered sellers: 124 funds opened new DKNG positions and 122 closed out — a net gain of 2 holders — while 299 added to existing stakes and 247 trimmed.

The largest buyer was Viking Global Investors, opening a new position worth an estimated $665M. The largest seller was Citadel Advisors, cutting an estimated $310M.

  • 836 institutional investors held DraftKings (DKNG) as of Q3 2025, down from 849 in Q2 2025.
  • Funds reported $15.2B of DraftKings stock for Q3 2025, down 15% quarter-over-quarter.
  • 124 funds opened new DraftKings positions in Q3 2025 and 122 closed out, a net change of +2 holders.
  • The largest DraftKings buyer in Q3 2025 was Viking Global Investors, an estimated $665M added.
  • The largest DraftKings seller in Q3 2025 was Citadel Advisors, an estimated $310M sold.

Based on aggregated 13F filings for Q3 2025.