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DraftKings
DKNG

824 hedge funds and large institutions have $15.7B invested in DraftKings in 2024 Q1 according to their latest regulatory filings, with 171 funds opening new positions, 245 increasing their positions, 275 reducing their positions, and 87 closing their positions.

New
Increased
Maintained
Reduced
Closed

97% more first-time investments, than exits

New positions opened: 171 | Existing positions closed: 87

40% more funds holding in top 10

Funds holding in top 10: 15 → 21 (+6)

34% more capital invested

Capital invested by funds: $11.7B → $15.7B (+$3.94B)

9% more funds holding

Funds holding: 754 → 824 (+70)

1.51% more ownership

Funds ownership: 71.47% → 72.99% (+1.5%)

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: 245 | Existing positions reduced: 275

Holders
824
Holders Change
+70
Holders Change %
+9.28%
% of All Funds
11.87%
Holding in Top 10
21
Holding in Top 10 Change
+6
Holding in Top 10 Change %
+40%
% of All Funds
0.3%
New
171
Increased
245
Reduced
275
Closed
87
Calls
$1.43B
Puts
$1.43B
Net Calls
+$4.01M
Net Calls Change
-$53.3M

Top Buyers

1
Wellington Management Group
Wellington Management Group
Massachusetts
+$504M
2
Marshall Wace
Marshall Wace
United Kingdom
+$214M
3
Neuberger Berman Group
Neuberger Berman Group
New York
+$137M
4
Franklin Resources
Franklin Resources
California
+$117M
5
AQR Capital Management
AQR Capital Management
Connecticut
+$101M

Top Sellers

1
Morgan Stanley
Morgan Stanley
New York
-$309M
2
SBLIC
Security Benefit Life Insurance Company
Kansas
-$163M
3
RC
Raine Capital
New York
-$147M
4
AIM
ARK Investment Management
Florida
-$147M
5
Two Sigma Advisers
Two Sigma Advisers
New York
-$144M
Name Holding Trade Value Shares
Change 		Change in
Stake
Vanguard Group
1
Vanguard Group
Pennsylvania
$1.82B +$30.4M +747,937 +2%
Wellington Management Group
2
Wellington Management Group
Massachusetts
$1.05B +$504M +12,390,796 +115%
BlackRock
3
BlackRock
New York
$969M +$3.63M +89,282 +0.4%
AIM
4
ARK Investment Management
Florida
$396M -$147M -3,602,856 -29%
State Street
5
State Street
Massachusetts
$395M -$3.4M -83,545 -1%
Sumitomo Mitsui Trust Group
6
Sumitomo Mitsui Trust Group
Japan
$348M -$29.7M -730,379 -9%
Geode Capital Management
7
Geode Capital Management
Massachusetts
$332M +$10.6M +260,457 +4%
Morgan Stanley
8
Morgan Stanley
New York
$323M -$309M -7,584,785 -52%
Invesco
9
Invesco
Georgia
$317M -$6.37M -156,412 -2%
NAMA
10
Nikko Asset Management Americas
New York
$306M -$30M -736,287 -10%
N
11
Nuveen
North Carolina
$305M +$89.3M +2,193,458 +49%
Capital Research Global Investors
12
Capital Research Global Investors
California
$298M -$24.5M -601,928 -8%
WRCM
13
Whale Rock Capital Management
Massachusetts
$281M -$57.8M -1,419,514 -19%
AVA
14
Atlas Venture Advisors
Massachusetts
$268M -$26.9M -661,199 -10%
Marshall Wace
15
Marshall Wace
United Kingdom
$259M +$214M +5,267,743 +1,229%
Massachusetts Financial Services
16
Massachusetts Financial Services
Massachusetts
$242M +$37.1M +910,365 +21%
D.E. Shaw & Co
17
D.E. Shaw & Co
New York
$241M -$14.4M -353,558 -6%
Norges Bank
18
Norges Bank
Norway
$238M -$8.42M -206,818 -4%
JCAM
19
Jericho Capital Asset Management
New York
$227M -$197K -4,847 -0.1%
Neuberger Berman Group
20
Neuberger Berman Group
New York
$198M +$137M +3,361,447 +340%
First Trust Advisors
21
First Trust Advisors
Illinois
$195M +$2.03M +49,872 +1%
Lord, Abbett & Co
22
Lord, Abbett & Co
New Jersey
$176M +$27M +663,427 +21%
Fidelity Investments
23
Fidelity Investments
Massachusetts
$169M +$6.15M +151,200 +4%
Renaissance Technologies
24
Renaissance Technologies
New York
$160M +$50.5M +1,241,446 +55%
Ameriprise
25
Ameriprise
Minnesota
$155M -$14.3M -351,307 -9%
1
2 3 4 5

DKNG Hedge Fund Activity: Q1 2024 in Review

824 of the 6,942 institutional investors tracked by Wall St. Rank reported a position in DraftKings (DKNG) for Q1 2024, worth a combined $15.7B — up 34% from $11.7B a quarter earlier.

Buyers outnumbered sellers: 171 funds opened new DKNG positions and 87 closed out — a net gain of 84 holders — while 245 added to existing stakes and 275 trimmed.

The largest buyer was Wellington Management Group, adding an estimated $504M. The largest seller was Morgan Stanley, cutting an estimated $309M.

  • 824 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 34% quarter-over-quarter.
  • 171 funds opened new DraftKings positions in Q1 2024 and 87 closed out, a net change of +84 holders.
  • The largest DraftKings buyer in Q1 2024 was Wellington Management Group, an estimated $504M added.
  • The largest DraftKings seller in Q1 2024 was Morgan Stanley, an estimated $309M sold.

Based on aggregated 13F filings for Q1 2024.