DraftKings
DKNG
596 hedge funds and large institutions have $7.6B invested in DraftKings in 2023 Q2 according to their latest regulatory filings, with 140 funds opening new positions, 176 increasing their positions, 157 reducing their positions, and 65 closing their positions.
115% more first-time investments, than exits
New positions opened: 140 | Existing positions closed: 65
48% more capital invested
Capital invested by funds: $5.12B → $7.6B (+$2.48B)
29% more funds holding in top 10
Funds holding in top 10: 14 → 18 (+4)
14% more funds holding
Funds holding: 522 → 596 (+74)
12% more repeat investments, than reductions
Existing positions increased: 176 | Existing positions reduced: 157
3.3% more ownership
Funds ownership: 58.65% → 61.95% (+3.3%)
13% less call options, than puts
Call options by funds: $525M | Put options by funds: $603M
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
WRCM
Whale Rock Capital Management
Boston,
Massachusetts
|
+$187M |
| 2 |
Two Sigma Advisers
New York
|
+$83.8M |
| 3 |
FAM
Fred Alger Management
New York
|
+$81.7M |
| 4 |
Invesco
Atlanta,
Georgia
|
+$66.4M |
| 5 |
D.E. Shaw & Co
New York
|
+$60.1M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Capital Research Global Investors
Los Angeles,
California
|
-$213M |
| 2 |
AIM
ARK Investment Management
St. Petersburg,
Florida
|
-$135M |
| 3 |
Wellington Management Group
Boston,
Massachusetts
|
-$102M |
| 4 |
RM
Redpoint Management
Woodside,
California
|
-$80.4M |
| 5 |
CIM
Contrarius Investment Management
St. Helier,
Jersey
|
-$65.9M |
DKNG Hedge Fund Activity: Q2 2023 in Review
596 of the 6,369 institutional investors tracked by Wall St. Rank reported a position in DraftKings (DKNG) for Q2 2023, worth a combined $7.6B — up 48% from $5.12B a quarter earlier.
Buyers outnumbered sellers: 140 funds opened new DKNG positions and 65 closed out — a net gain of 75 holders — while 176 added to existing stakes and 157 trimmed.
The largest buyer was Whale Rock Capital Management, opening a new position worth an estimated $187M. The largest seller was Capital Research Global Investors, cutting an estimated $213M.
- 596 institutional investors held DraftKings (DKNG) as of Q2 2023, up from 522 in Q1 2023.
- Funds reported $7.6B of DraftKings stock for Q2 2023, up 48% quarter-over-quarter.
- 140 funds opened new DraftKings positions in Q2 2023 and 65 closed out, a net change of +75 holders.
- The largest DraftKings buyer in Q2 2023 was Whale Rock Capital Management, an estimated $187M added.
- The largest DraftKings seller in Q2 2023 was Capital Research Global Investors, an estimated $213M sold.
Based on aggregated 13F filings for Q2 2023.