DraftKings
DKNG
838 hedge funds and large institutions have $15.2B invested in DraftKings in 2025 Q3 according to their latest regulatory filings, with 124 funds opening new positions, 299 increasing their positions, 247 reducing their positions, and 122 closing their positions.
21% more repeat investments, than reductions
Existing positions increased: 299 | Existing positions reduced: 247
7% more call options, than puts
Call options by funds: $1.26B | Put options by funds: $1.18B
2% more first-time investments, than exits
New positions opened: 124 | Existing positions closed: 122
2% less funds holding
Funds holding: 851 → 838 (-13)
2.16% less ownership
Funds ownership: 84.25% → 82.09% (-2.2%)
15% less capital inflows, than outflows
Capital inflows: $2.33B | Capital outflows: $2.76B
47% less funds holding in top 10
Funds holding in top 10: 15 → 8 (-7)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Viking Global Investors
Stamford,
Connecticut
|
+$665M |
| 2 |
AQR Capital Management
Greenwich,
Connecticut
|
+$201M |
| 3 |
Squarepoint
New York
|
+$95.7M |
| 4 |
Fidelity Investments
Boston,
Massachusetts
|
+$86M |
| 5 |
Jane Street
New York
|
+$74.4M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Citadel Advisors
Miami,
Florida
|
-$310M |
| 2 |
Whale Rock Capital Management
Boston,
Massachusetts
|
-$229M |
| 3 |
Franklin Resources
San Mateo,
California
|
-$201M |
| 4 |
Wellington Management Group
Boston,
Massachusetts
|
-$169M |
| 5 |
Samlyn Capital
New York
|
-$117M |
DKNG Hedge Fund Activity: Q3 2025 in Review
838 of the 7,647 institutional investors tracked by Wall St. Rank reported a position in DraftKings (DKNG) for Q3 2025, worth a combined $15.2B — down 15% from $17.9B a quarter earlier.
Buyers outnumbered sellers: 124 funds opened new DKNG positions and 122 closed out — a net gain of 2 holders — while 299 added to existing stakes and 247 trimmed.
The largest buyer was Viking Global Investors, opening a new position worth an estimated $665M. The largest seller was Citadel Advisors, cutting an estimated $310M.
- 838 institutional investors held DraftKings (DKNG) as of Q3 2025, down from 851 in Q2 2025.
- Funds reported $15.2B of DraftKings stock for Q3 2025, down 15% quarter-over-quarter.
- 124 funds opened new DraftKings positions in Q3 2025 and 122 closed out, a net change of +2 holders.
- The largest DraftKings buyer in Q3 2025 was Viking Global Investors, an estimated $665M added.
- The largest DraftKings seller in Q3 2025 was Citadel Advisors, an estimated $310M sold.
Based on aggregated 13F filings for Q3 2025.