DraftKings
DKNG
825 hedge funds and large institutions have $15.7B invested in DraftKings in 2024 Q1 according to their latest regulatory filings, with 172 funds opening new positions, 244 increasing their positions, 275 reducing their positions, and 87 closing their positions.
98% more first-time investments, than exits
New positions opened: 172 | Existing positions closed: 87
40% more funds holding in top 10
Funds holding in top 10: 15 → 21 (+6)
36% more capital invested
Capital invested by funds: $11.5B → $15.7B (+$4.17B)
9% more funds holding
Funds holding: 754 → 825 (+71)
2.88% more ownership
Funds ownership: 70.11% → 72.99% (+2.9%)
0% more call options, than puts
Call options by funds: $1.43B | Put options by funds: $1.43B
11% less repeat investments, than reductions
Existing positions increased: 244 | Existing positions reduced: 275
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Wellington Management Group
Boston,
Massachusetts
|
+$504M |
| 2 |
Marshall Wace
London,
United Kingdom
|
+$214M |
| 3 |
Franklin Resources
San Mateo,
California
|
+$117M |
| 4 |
AQR Capital Management
Greenwich,
Connecticut
|
+$101M |
| 5 |
Neuberger Berman Group
New York
|
+$96.5M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SBLIC
Security Benefit Life Insurance Company
Topeka,
Kansas
|
-$163M |
| 2 |
RC
Raine Capital
New York
|
-$147M |
| 3 |
AIM
ARK Investment Management
St. Petersburg,
Florida
|
-$147M |
| 4 |
Two Sigma Advisers
New York
|
-$144M |
| 5 |
Qube Research & Technologies (QRT)
London,
United Kingdom
|
-$107M |
DKNG Hedge Fund Activity: Q1 2024 in Review
825 of the 6,958 institutional investors tracked by Wall St. Rank reported a position in DraftKings (DKNG) for Q1 2024, worth a combined $15.7B — up 36% from $11.5B a quarter earlier.
Buyers outnumbered sellers: 172 funds opened new DKNG positions and 87 closed out — a net gain of 85 holders — while 244 added to existing stakes and 275 trimmed.
The largest buyer was Wellington Management Group, adding an estimated $504M. The largest seller was Security Benefit Life Insurance Company, exiting entirely with an estimated $163M sold.
- 825 institutional investors held DraftKings (DKNG) as of Q1 2024, up from 754 in Q4 2023.
- Funds reported $15.7B of DraftKings stock for Q1 2024, up 36% quarter-over-quarter.
- 172 funds opened new DraftKings positions in Q1 2024 and 87 closed out, a net change of +85 holders.
- The largest DraftKings buyer in Q1 2024 was Wellington Management Group, an estimated $504M added.
- The largest DraftKings seller in Q1 2024 was Security Benefit Life Insurance Company, an estimated $163M sold.
Based on aggregated 13F filings for Q1 2024.