SharpLink Gaming

SBET • NASDAQ

SharpLink Gaming is a gambling, resorts & casinos company in the consumer cyclical sector on NASDAQ, led by Joseph Chalom, with a market cap of $2.3B. As of Q3 2025, 35% of shares are held by 130 institutional investors, with FMR LLC as the largest holder at 4.01%.

Co-Chief Executive OfficerJoseph Chalom

Market Cap$2.3B

Gambling, Resorts & Casinos

Consumer Cyclical

Employees51.0

Websitesharplink.com

Country

United States of America

Overview

Overview of institutional ownership in SBET as of Q3 2025 with a market cap of $3.3B

All Institutions

Institutions: 130
Value Held: $1.1B
Shares Held: 66.9M
Avg Position: $8.7M
Median Position: $823.1K

Hedge Funds

Hedge Funds: 17
Value Held: $163.5M
Shares Held: 9.6M
Avg Position: $9.6M
Median Position: $1.5M

Ownership Breakdown

Institutional (non-HF)

29.8%

$974.0M

Hedge Funds

5.0%

$163.5M

Retail & Other

65.2%

$2.1B

Based on market cap of $3.3B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in SBET as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
FMR LLC Institution	-	$131.2M 0.01% of portfolio	4.01% 7.7M shares	Q3 2025 Held for 2 months	$1.92T
UBS Group AG Institution	Sergio P. Ermotti CEO	$104.9M 0.02% of portfolio	3.21% 6.2M shares	Q3 2023 Held for 2y 2m	$511.54B
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	-	$78.0M 0.11% of portfolio	2.39% 4.6M shares	Q2 2025 Held for 5 months	$67.9B
P ParaFi Capital LP Digital Asset Manager	Benjamin Solomon Forman Founder	$70.2M 15.34% of portfolio	2.15% 4.1M shares	Q2 2025 Held for 5 months	$457.4M
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	Kenneth Cordele Griffin CEO	$61.6M 0.05% of portfolio	1.88% 3.6M shares	Q2 2025 Held for 5 months	$122.08B
B BlackRock, Inc. Institution	-	$50.4M 0.00% of portfolio	1.54% 3.0M shares	Q3 2025 Held for 2 months	$5.67T
VANGUARD GROUP INC Institution	Salim Ramji CEO	$46.4M 0.00% of portfolio	1.42% 2.7M shares	Q3 2025 Held for 2 months	$6.69T
A Alyeska Investment Group, L.P. Hedge Fund•Multi-Strategy	Anand Christopher Parekh CEO	$42.5M 0.13% of portfolio	1.30% 2.5M shares	Q3 2025 Held for 2 months	$33.0B
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$36.9M 0.00% of portfolio	1.13% 2.2M shares	Q3 2021 Held for 4y 2m	$1.65T
A Anatole Investment Management Ltd Institution	-	$33.4M 3.25% of portfolio	1.02% 2.0M shares	Q2 2025 Held for 5 months	$1.0B

Net Capital Flow

Institutional buying and selling activity for SBET in Q3 2025

Traded: +$928.6M
Buyers: 124
Sellers: 14
Total Bought: +$989.3M
Total Sold: −$60.7M
Avg Position: $8.1M

Biggest Buyers

Institution	Net Bought	Current Position
FMR LLC Institution	+$131.2M +7.7M shares	$131.2M 7.7M shares
UBS Group AG Institution	+$94.6M +5.6M shares	$104.9M 6.2M shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	+$71.7M +4.2M shares	$78.0M 4.6M shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	+$53.2M +3.1M shares	$61.6M 3.6M shares
B BlackRock, Inc. Institution	+$50.4M +3.0M shares	$50.4M 3.0M shares
VANGUARD GROUP INC Institution	+$46.4M +2.7M shares	$46.4M 2.7M shares
A Alyeska Investment Group, L.P. Hedge Fund•Multi-Strategy	+$42.5M +2.5M shares	$42.5M 2.5M shares
MORGAN STANLEY RIA/Wealth	+$35.7M +2.1M shares	$36.9M 2.2M shares
GEODE CAPITAL MANAGEMENT LLC ETF Provider	+$32.4M +1.9M shares	$33.1M 1.9M shares
CloudAlpha Capital Management Limited/Hong Kong Institution	+$30.8M +1.8M shares	$30.8M 1.8M shares

Biggest Sellers

Institution	Net Sold	Current Position
Marshall Wace LLP Institution	−$30.8M −1.8M shares	$15.2M 892.2K shares
P ParaFi Capital LP Digital Asset Manager	−$10.0M −590.0K shares	$70.2M 4.1M shares
Polar Securities Inc. Hedge Fund•Multi-Strategy	−$9.7M −976.7K shares	Sold Off 0 shares
JPMORGAN CHASE & CO Institution	−$3.9M −226.9K shares	$1.7M 98.3K shares
HighTower Advisors, LLC RIA/Wealth	−$2.6M −152.7K shares	$223.5K 13.1K shares
THAMES CAPITAL MANAGEMENT LLC Hedge Fund•Long/Short	−$1.6M −157.7K shares	Sold Off 0 shares
X XTX Topco Ltd Institution	−$1.1M −110.3K shares	Sold Off 0 shares
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	−$621.4K −62.6K shares	Sold Off 0 shares
M Monolith Management Ltd Institution	−$280.0K −28.2K shares	Sold Off 0 shares
Q Qube Research & Technologies Ltd Institution	−$151.0K −15.2K shares	Sold Off 0 shares

Entry and Exit Activity

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

New Positions: 94
New Value: $527.0M
Exited Positions: 10
Exited Value: $13.4M

New Positions

Institution	Position Value
FMR LLC Institution	$131.2M 7.7M shares
B BlackRock, Inc. Institution	$50.4M 3.0M shares
VANGUARD GROUP INC Institution	$46.4M 2.7M shares
A Alyeska Investment Group, L.P. Hedge Fund•Multi-Strategy	$42.5M 2.5M shares
CloudAlpha Capital Management Limited/Hong Kong Institution	$30.8M 1.8M shares
Toroso Investments, LLC ETF Provider	$30.3M 1.8M shares
GOLDMAN SACHS GROUP INC Institution	$24.5M 1.4M shares
APEIRON CAPITAL Ltd RIA/Wealth	$23.0M 1.4M shares
Invesco Ltd. ETF Provider	$17.5M 1.0M shares
SCHWAB CHARLES INVESTMENT MANAGEMENT INC Long Only Manager	$17.0M 997.9K shares

Exited Positions

Institution	Previous Position
Polar Securities Inc. Hedge Fund•Multi-Strategy	$9.7M 976.7K shares
THAMES CAPITAL MANAGEMENT LLC Hedge Fund•Long/Short	$1.6M 157.7K shares
X XTX Topco Ltd Institution	$1.1M 110.3K shares
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	$621.4K 62.6K shares
M Monolith Management Ltd Institution	$280.0K 28.2K shares
Q Qube Research & Technologies Ltd Institution	$151.0K 15.2K shares
Newbridge Financial Services Group, Inc. RIA/Wealth	$9.9K 1.0K shares
Mount Yale Investment Advisors, LLC RIA/Wealth	$1.7K 176.0 shares
LAZARD ASSET MANAGEMENT LLC Long Only Manager	$1.0K 133.0 shares
N NATIONAL BANK OF CANADA /FI/ Institution	$99.0 10.0 shares

Options Activity

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

Call Positions: 15
Call Value: $244.7M
Put Positions: 13
Put Value: $326.5M

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$58.6M 34.4K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$51.8M 30.5K contracts
J JANE STREET GROUP, LLC Institution	$47.4M 27.8K contracts
P PEAK6 LLC Institution	$28.4M 16.7K contracts
W WOLVERINE TRADING, LLC Institution	$17.4M 10.1K contracts
C CANTOR FITZGERALD, L. P. Institution	$11.9M 7.0K contracts
Walleye Trading LLC RIA/Wealth	$11.0M 6.5K contracts
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$5.1M 3.0K contracts
P Parallax Volatility Advisers, LLC Hedge Fund•Vol Arbitrage	$5.0M 3.0K contracts
Centiva Capital, LP Hedge Fund•Multi-Strategy	$2.2M 1.3K contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$110.1M 64.8K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$80.6M 47.4K contracts
P PEAK6 LLC Institution	$50.3M 29.6K contracts
J JANE STREET GROUP, LLC Institution	$39.4M 23.1K contracts
Marshall Wace LLP Institution	$10.3M 6.0K contracts
GOLDMAN SACHS GROUP INC Institution	$8.5M 5.0K contracts
W WOLVERINE TRADING, LLC Institution	$8.2M 4.7K contracts
BARCLAYS PLC Institution	$7.3M 4.3K contracts
P Parallax Volatility Advisers, LLC Hedge Fund•Vol Arbitrage	$6.7M 4.0K contracts
Walleye Trading LLC RIA/Wealth	$3.2M 1.9K contracts

Most Committed Institutions

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

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
P ParaFi Capital LP Digital Asset Manager	Benjamin Solomon Forman Founder	15.34% $70.2M	2.15% 4.1M shares	Q2 2025 Held for 5 months	$457.4M
APEIRON CAPITAL Ltd RIA/Wealth	James Michael Marsden Owner	10.95% $23.0M	0.70% 1.4M shares	Q3 2025 Held for 2 months	$210.4M
A Anatole Investment Management Ltd Institution	-	3.25% $33.4M	1.02% 2.0M shares	Q2 2025 Held for 5 months	$1.0B
CloudAlpha Capital Management Limited/Hong Kong Institution	Michael Terence Turner Managing Partner	2.71% $30.8M	0.94% 1.8M shares	Q3 2025 Held for 2 months	$1.1B
Collar Capital Management, LLC RIA/Wealth	Patrick Daniel Collar Managing Partner	1.19% $1.7M	0.05% 100.1K shares	Q3 2025 Held for 2 months	$143.5M
M MMCAP International Inc. SPC Institution	-	1.13% $8.5M	0.26% 498.7K shares	Q3 2025 Held for 2 months	$752.3M
I Ionic Capital Management LLC Hedge Fund•Multi-Strategy	Bart Ethan Baum CIO	1.06% $884.5K	0.03% 52.0K shares	Q3 2025 Held for 2 months	$83.1M
L Long Corridor Asset Management Ltd Institution	-	0.96% $1.9M	0.06% 110.0K shares	Q3 2025 Held for 2 months	$194.5M
B BIT Capital GmbH Institution	-	0.94% $20.7M	0.63% 1.2M shares	Q2 2025 Held for 5 months	$2.2B
P Philosophy Capital Management LLC Hedge Fund•Multi-Strategy	Jacob Daniel Rubin Managing Partner	0.69% $6.0M	0.18% 350.0K shares	Q3 2025 Held for 2 months	$864.0M

Hedge Fund Spotlight

Discover hedge funds investing in SBET

BALYASNY ASSET MANAGEMENT LLC

Hedge Fund • Multi-Strategy

Portfolio ManagerDmitry Balyasny

Portfolio Value: $48.1B
Positions: 1,894
Last Reported: Q3 2025

Sector Allocation

Position in SharpLink Gaming

Market Value: $475.4K
Shares Held: 27.9K
Portfolio Weight: 0.00%
Owned Since: 2025-Q2

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