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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.

New
Increased
Maintained
Reduced
Closed

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

Holders
596
Holders Change
+74
Holders Change %
+14.18%
% of All Funds
9.36%
Holding in Top 10
18
Holding in Top 10 Change
+4
Holding in Top 10 Change %
+28.57%
% of All Funds
0.28%
New
140
Increased
176
Reduced
157
Closed
65
Calls
$525M
Puts
$603M
Net Calls
-$78.5M
Net Calls Change
-$6.99M

Top Buyers

1
WRCM
Whale Rock Capital Management
Massachusetts
+$187M
2
Two Sigma Advisers
Two Sigma Advisers
New York
+$83.8M
3
FAM
Fred Alger Management
New York
+$81.7M
4
Invesco
Invesco
Georgia
+$66.4M
5
D.E. Shaw & Co
D.E. Shaw & Co
New York
+$60.1M

Top Sellers

1
Capital Research Global Investors
Capital Research Global Investors
California
-$213M
2
AIM
ARK Investment Management
Florida
-$135M
3
Wellington Management Group
Wellington Management Group
Massachusetts
-$102M
4
RM
Redpoint Management
California
-$80.4M
5
CIM
Contrarius Investment Management
Jersey
-$65.9M
Name Holding Trade Value Shares
Change 		Change in
Stake
Vanguard Group
1
Vanguard Group
Pennsylvania
$981M +$20.8M +900,592 +2%
AIM
2
ARK Investment Management
Florida
$480M -$135M -5,870,792 -25%
BlackRock
3
BlackRock
New York
$472M +$53.1M +2,302,393 +15%
Sumitomo Mitsui Trust Group
4
Sumitomo Mitsui Trust Group
Japan
$291M -$51.1M -2,215,799 -17%
NAMA
5
Nikko Asset Management Americas
New York
$291M -$51.1M -2,215,799 -17%
Capital Research Global Investors
6
Capital Research Global Investors
California
$234M -$213M -9,262,864 -51%
WRCM
7
Whale Rock Capital Management
Massachusetts
$216M +$187M +8,117,682 New
Two Sigma Investments
8
Two Sigma Investments
New York
$197M +$48.7M +2,112,006 +40%
D.E. Shaw & Co
9
D.E. Shaw & Co
New York
$182M +$60.1M +2,609,588 +61%
Invesco
10
Invesco
Georgia
$178M +$66.4M +2,881,650 +75%
Two Sigma Advisers
11
Two Sigma Advisers
New York
$177M +$83.8M +3,636,500 +121%
State Street
12
State Street
Massachusetts
$176M +$14.3M +620,562 +10%
AVA
13
Atlas Venture Advisors
Massachusetts
$174M – – –
Geode Capital Management
14
Geode Capital Management
Massachusetts
$173M +$12.3M +531,875 +9%
RC
15
Raine Capital
New York
$166M -$50.3M -2,180,865 -26%
Morgan Stanley
16
Morgan Stanley
New York
$142M +$4.19M +181,759 +4%
JCAM
17
Jericho Capital Asset Management
New York
$136M +$47.9M +2,079,676 +68%
Norges Bank
18
Norges Bank
Norway
$123M +$37.7M +1,636,460 +55%
SBLIC
19
Security Benefit Life Insurance Company
Kansas
$123M – – –
Millennium Management
20
Millennium Management
New York
$115M +$44.8M +1,944,614 +82%
Wellington Management Group
21
Wellington Management Group
Massachusetts
$102M -$102M -4,420,231 -54%
FAM
22
Fred Alger Management
New York
$94.2M +$81.7M +3,544,411 New
DC
23
Davenport & Co
Virginia
$89.9M -$19.2M -834,174 -20%
RM
24
Redpoint Management
California
$88.4M -$80.4M -3,490,897 -51%
Charles Schwab
25
Charles Schwab
California
$73.1M +$2.3M +99,602 +4%
1
2 3 4 5

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.