DraftKings
DKNG
93 hedge funds and large institutions have $384M invested in DraftKings in 2020 Q1 according to their latest regulatory filings, with 69 funds opening new positions, 12 increasing their positions, 9 reducing their positions, and 45 closing their positions.
228% more call options, than puts
Call options by funds: $37.4M | Put options by funds: $11.4M
53% more first-time investments, than exits
New positions opened: 69 | Existing positions closed: 45
33% more repeat investments, than reductions
Existing positions increased: 12 | Existing positions reduced: 9
33% more funds holding
Funds holding: 70 → 93 (+23)
24% more capital invested
Capital invested by funds: $309M → $384M (+$75.3M)
4.3% more ownership
Funds ownership: 72.02% → 76.32% (+4.3%)
0% more funds holding in top 10
Funds holding in top 10: 5 → 5 (0)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
AWG
Alpha Wave Global
New York
|
+$56.7M |
| 2 |
FAM
Fred Alger Management
New York
|
+$33.1M |
| 3 |
Neuberger Berman Group
New York
|
+$25.8M |
| 4 |
EAM
Eagle Asset Management
St Petersburg,
Florida
|
+$24.9M |
| 5 |
MF
Magnetar Financial
Evanston,
Illinois
|
+$19.1M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
RIA
RP Investment Advisors
Toronto,
Ontario, Canada
|
-$17M |
| 2 |
GL
Governors Lane
New York
|
-$16.2M |
| 3 |
AIMCA
Alberta Investment Management Corp (AIMCo)
Edmonton,
Alberta, Canada
|
-$15.4M |
| 4 |
ESCM
Echo Street Capital Management
New York
|
-$14.3M |
| 5 |
Healthcare of Ontario Pension Plan (HOOPP) Trust Fund
Toronto,
Ontario, Canada
|
-$13.8M |
DKNG Hedge Fund Activity: Q1 2020 in Review
93 of the 4,547 institutional investors tracked by Wall St. Rank reported a position in DraftKings (DKNG) for Q1 2020, worth a combined $384M — up 24% from $309M a quarter earlier.
Buyers outnumbered sellers: 69 funds opened new DKNG positions and 45 closed out — a net gain of 24 holders — while 12 added to existing stakes and 9 trimmed.
The largest buyer was Alpha Wave Global, opening a new position worth an estimated $56.7M. The largest seller was RP Investment Advisors, exiting entirely with an estimated $17M sold.
- 93 institutional investors held DraftKings (DKNG) as of Q1 2020, up from 70 in Q4 2019.
- Funds reported $384M of DraftKings stock for Q1 2020, up 24% quarter-over-quarter.
- 69 funds opened new DraftKings positions in Q1 2020 and 45 closed out, a net change of +24 holders.
- The largest DraftKings buyer in Q1 2020 was Alpha Wave Global, an estimated $56.7M added.
- The largest DraftKings seller in Q1 2020 was RP Investment Advisors, an estimated $17M sold.
Based on aggregated 13F filings for Q1 2020.