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.
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
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Massachusetts Financial Services
Boston,
Massachusetts
|
+$108M |
| 2 |
Ameriprise
Minneapolis,
Minnesota
|
+$102M |
| 3 |
Lord, Abbett & Co
Jersey City,
New Jersey
|
+$92.1M |
| 4 |
SC
Samlyn Capital
New York
|
+$88.7M |
| 5 |
1832 Asset Management
Toronto,
Ontario, Canada
|
+$78.1M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Two Sigma Investments
New York
|
-$114M |
| 2 |
AIM
ARK Investment Management
St. Petersburg,
Florida
|
-$101M |
| 3 |
RM
Redpoint Management
Woodside,
California
|
-$88.4M |
| 4 |
Millennium Management
New York
|
-$72M |
| 5 |
Citadel Advisors
Miami,
Florida
|
-$65.8M |
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.