DraftKings Inc.

DKNG • NASDAQ

DraftKings Inc. is a gambling, resorts & casinos company in the consumer cyclical sector on NASDAQ, led by Jason Robins, with a market cap of $17.7B. As of Q3 2025, 82% of shares are held by 815 institutional investors, with VANGUARD GROUP INC as the largest holder at 8.74%.

CEO of DraftKings Inc.Jason Robins

Market Cap$17.7B

Gambling, Resorts & Casinos

Consumer Cyclical

Employees4.4K

Websitedraftkings.com

Country

United States of America

Overview

Overview of institutional ownership in DKNG as of Q3 2025 with a market cap of $18.6B

All Institutions

Institutions: 815
Value Held: $15.3B
Shares Held: 408.7M
Avg Position: $18.7M
Median Position: $644.6K

Hedge Funds

Hedge Funds: 81
Value Held: $2.3B
Shares Held: 62.6M
Avg Position: $28.9M
Median Position: $3.9M

Ownership Breakdown

Institutional (non-HF)

69.69%

$12.9B

Hedge Funds

12.6%

$2.3B

Retail & Other

17.71%

$3.3B

Based on market cap of $18.6B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in DKNG as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
VANGUARD GROUP INC Institution	Salim Ramji CEO	$1.6B 0.02% of portfolio	8.74% 43.4M shares	Q2 2020 Held for 5y 5m	$6.69T
B BlackRock, Inc. Institution	-	$1.0B 0.02% of portfolio	5.47% 27.1M shares	Q2 2020 Held for 5y 5m	$5.67T
FMR LLC Institution	-	$904.5M 0.05% of portfolio	4.87% 24.2M shares	Q2 2020 Held for 5y 5m	$1.92T
WELLINGTON MANAGEMENT CO LLP Long Only Manager	Jean Marie Hynes CEO	$730.9M 0.13% of portfolio	3.94% 19.5M shares	Q2 2020 Held for 5y 5m	$571.21B
T T. Rowe Price Investment Management, Inc. Insurance Manager	John Edward Robison President	$705.6M 0.44% of portfolio	3.80% 18.9M shares	Q2 2024 Held for 1y 5m	$161.58B
HENDERSON GROUP PLC Institution	Ali Dibadj CEO	$627.9M 0.29% of portfolio	3.38% 16.8M shares	Q4 2020 Held for 4y 11m	$218.74B
VIKING GLOBAL INVESTORS LP Hedge Fund•Long/Short	Ole Andreas Halvorsen CEO	$561.1M 1.46% of portfolio	3.02% 15.0M shares	Q3 2025 Held for 2 months	$38.5B
AQR CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	David Gary Kabiller Founder	$437.0M 0.28% of portfolio	2.35% 11.7M shares	Q1 2023 Held for 2y 8m	$156.17B
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$371.4M 0.01% of portfolio	2.00% 9.9M shares	Q2 2020 Held for 5y 5m	$2.88T
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$347.0M 0.02% of portfolio	1.87% 9.3M shares	Q1 2020 Held for 5y 8m	$1.57T

Net Capital Flow

Institutional buying and selling activity for DKNG in Q3 2025

Traded: +$124.1M
Buyers: 417
Sellers: 353
Total Bought: +$2.0B
Total Sold: −$1.9B
Avg Position: $16.4M

Biggest Buyers

Institution	Net Bought	Current Position
VIKING GLOBAL INVESTORS LP Hedge Fund•Long/Short	+$561.1M +15.0M shares	$561.1M 15.0M shares
AQR CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$169.7M +4.5M shares	$437.0M 11.7M shares
S Squarepoint Ops LLC Hedge Fund•Quant	+$80.7M +2.2M shares	$80.7M 2.2M shares
FMR LLC Institution	+$72.5M +1.9M shares	$904.5M 24.2M shares
J JANE STREET GROUP, LLC Institution	+$62.8M +1.7M shares	$73.6M 2.0M shares
TUDOR INVESTMENT CORP ET AL Hedge Fund•Multi-Strategy	+$62.7M +1.7M shares	$62.7M 1.7M shares
E EMINENCE CAPITAL LLC Hedge Fund•Long/Short	+$56.8M +1.5M shares	$234.7M 6.3M shares
BALYASNY ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$56.1M +1.5M shares	$113.1M 3.0M shares
Contour Asset Management LLC Hedge Fund•Long/Short	+$46.9M +1.3M shares	$90.5M 2.4M shares
WELLS FARGO & COMPANY/MN Institution	+$46.5M +1.2M shares	$77.0M 2.1M shares

Biggest Sellers

Institution	Net Sold	Current Position
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	−$261.4M −7.0M shares	$40.3M 1.1M shares
W Whale Rock Capital Management LLC Hedge Fund•Long/Short	−$229.0M −5.3M shares	Sold Off 0 shares
WELLINGTON MANAGEMENT CO LLP Long Only Manager	−$142.8M −3.8M shares	$730.9M 19.5M shares
SAMLYN CAPITAL, LLC Hedge Fund•Multi-Strategy	−$98.3M −2.6M shares	$89.2M 2.4M shares
Anomaly Capital Management, LP Hedge Fund•Long/Short	−$94.2M −2.2M shares	Sold Off 0 shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	−$67.2M −1.8M shares	$21.2M 567.4K shares
A Alyeska Investment Group, L.P. Hedge Fund•Multi-Strategy	−$63.1M −1.7M shares	$17.5M 468.0K shares
Wolf Hill Capital Management, LP Hedge Fund•Long/Short	−$53.9M −1.3M shares	Sold Off 0 shares
S SCOPUS ASSET MANAGEMENT, L.P. Hedge Fund•Long/Short	−$50.4M −1.2M shares	Sold Off 0 shares
S Sumitomo Mitsui Trust Holdings, Inc. Institution	−$46.8M −1.3M shares	$147.2M 3.9M shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited DKNG in Q3 2025

New Positions: 51
New Value: $611.4M
Exited Positions: 115
Exited Value: $648.9M

New Positions

Institution	Position Value
VIKING GLOBAL INVESTORS LP Hedge Fund•Long/Short	$561.1M 15.0M shares
Empower Advisory Group, LLC RIA/Wealth	$22.7M 607.9K shares
TrimTabs Asset Management, LLC Long Only Manager	$12.4M 331.2K shares
LAKEWOOD CAPITAL MANAGEMENT, LP Hedge Fund•Long/Short	$4.9M 132.0K shares
C CANTOR FITZGERALD, L. P. Institution	$1.5M 34.9K shares
Capital Wealth Planning, LLC RIA/Wealth	$1.3M 35.5K shares
C Cumberland Partners Ltd Institution	$935.0K 25.0K shares
I INCEPTIONR LLC Hedge Fund•Quant	$794.2K 21.2K shares
Caerus Investment Advisors, LLC Venture Capital	$696.8K 18.6K shares
D DYMON ASIA CAPITAL PTE. LTD. Institution	$542.3K 14.5K shares

Exited Positions

Institution	Previous Position
W Whale Rock Capital Management LLC Hedge Fund•Long/Short	$229.0M 5.3M shares
Anomaly Capital Management, LP Hedge Fund•Long/Short	$94.2M 2.2M shares
Wolf Hill Capital Management, LP Hedge Fund•Long/Short	$53.9M 1.3M shares
S SCOPUS ASSET MANAGEMENT, L.P. Hedge Fund•Long/Short	$50.4M 1.2M shares
OZ MANAGEMENT LP Hedge Fund•Multi-Strategy	$33.7M 785.0K shares
Connor, Clark & Lunn Investment Management Ltd. Long Only Manager	$25.3M 589.1K shares
Blackstone Group L.P. Institution	$22.5M 525.0K shares
Think Investments LP Hedge Fund•Long/Short	$19.0M 442.4K shares
MANE GLOBAL CAPITAL MANAGEMENT LP Hedge Fund•Long/Short	$18.0M 420.0K shares
GOODNOW INVESTMENT GROUP, LLC Hedge Fund•Long/Short	$15.3M 357.9K shares

Options Activity

Institutions with the largest Call and Put options positions in DKNG as of Q3 2025

Call Positions: 54
Call Value: $1.1B
Put Positions: 38
Put Value: $1.1B

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$291.9M 78.1K contracts
UBS Group AG Institution	$160.9M 43.0K contracts
J JANE STREET GROUP, LLC Institution	$126.9M 33.9K contracts
Walleye Trading LLC RIA/Wealth	$91.1M 24.4K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$77.5M 20.7K contracts
Toroso Investments, LLC ETF Provider	$46.3M 12.4K contracts
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$40.5M 10.8K contracts
LEUCADIA NATIONAL CORP Institution	$40.2M 10.8K contracts
T Twin Tree Management, LP Hedge Fund•Vol Arbitrage	$34.3M 9.2K contracts
BARCLAYS PLC Institution	$27.2M 7.3K contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$320.7M 85.8K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$109.5M 29.3K contracts
J JANE STREET GROUP, LLC Institution	$105.0M 28.1K contracts
UBS Group AG Institution	$90.7M 24.3K contracts
Walleye Trading LLC RIA/Wealth	$77.8M 20.8K contracts
P PEAK6 LLC Institution	$68.7M 18.4K contracts
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$52.4M 14.0K contracts
BARCLAYS PLC Institution	$50.1M 13.4K contracts
WELLS FARGO & COMPANY/MN Institution	$48.6M 13.0K contracts
GOLDMAN SACHS GROUP INC Institution	$26.4M 7.1K contracts

Most Committed Institutions

Institutions with DKNG as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Raine Capital LLC Private Equity	Brandon Wade Gardner President	71.27% $9.9M	0.05% 263.4K shares	Q2 2020 Held for 5y 5m	$13.8M
A Atlas Venture Advisors, Inc. Institution	-	45.45% $199.0M	1.07% 5.3M shares	Q2 2020 Held for 5y 5m	$437.7M
Morangie Management LLC RIA/Wealth	Geraldine Frances Mcmanus Founder	12.12% $14.1M	0.08% 375.7K shares	Q4 2024 Held for 11 months	$115.9M
O Owl Creek Asset Management, L.P. Hedge Fund•Multi-Strategy	Jeffrey Alan Altman Managing Partner	4.81% $42.4M	0.23% 1.1M shares	Q3 2024 Held for 1y 2m	$880.7M
Bienville Capital Management, LLC Hedge Fund•Multi-Strategy	William Herbert Stimpson CEO	3.98% $20.9M	0.11% 558.8K shares	Q3 2023 Held for 2y 2m	$524.8M
B BWCP, LP Hedge Fund•Long/Short	Brandon Matthew Wier Managing Partner	3.78% $22.8M	0.12% 608.7K shares	Q3 2024 Held for 1y 2m	$601.9M
Columbus Hill Capital Management, L.P. Hedge Fund•Multi-Strategy	Kevin Deric Eng CEO	3.71% $26.7M	0.14% 713.6K shares	Q1 2025 Held for 8 months	$720.1M
E EMINENCE CAPITAL LLC Hedge Fund•Long/Short	Ricky Chad Sandler CEO	3.39% $234.7M	1.26% 6.3M shares	Q4 2024 Held for 11 months	$6.9B
H HELIOS CAPITAL MANAGEMENT PTE. LTD Institution	-	3.34% $4.9M	0.03% 130.0K shares	Q4 2023 Held for 1y 11m	$145.6M
StepStone Group LP Fund of Funds	Scott William Hart CEO	3.14% $6.0M	0.03% 160.9K shares	Q3 2024 Held for 1y 2m	$191.8M

Hedge Fund Spotlight

Discover hedge funds investing in DKNG

Engineers Gate Manager LP

Hedge Fund • Quant

Portfolio ManagerRobert Gregory Eisner

Portfolio Value: $8.8B
Positions: 2,112
Last Reported: Q3 2025

Sector Allocation

Position in DraftKings Inc.

Market Value: $2.2M
Shares Held: 59.7K
Portfolio Weight: 0.03%
Owned Since: 2020-Q2

Top Holding	Sector	Market Value	Weight
1 Invesco QQQ Trust QQQ	ETF ETF	$155.2M	1.77%
2 SPDR S&P 500 ETF Trust SPY	ETF ETF	$115.3M	1.32%
3 Sabra Healthcare SBRA	REIT - Healthcare Facilities Real Estate	$112.9M	1.29%