Vault-13

DRAFTKINGS INC NEW DKNG 0 03.15.28

NOTE 3/1 · US DOMESTIC · CUSIP 26142RAB0

58 institutional holders +1 vs Q2 2025
17,807,33217.8m shares reported held*
$1.1bnreported value*
11 new 15 added 19 reduced 9 sold out net bought ≈ $109.9m (-5.9m shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once. Holder counts are more reliable. Implied quarter-end price ≈ $63.65. Options: 1 managers hold calls ($67.3k notional), 1 hold puts ($78.5k).

Trends to Q3 2025

Institutional holders

Managers reporting a position, each quarter

0204060Q3 22: 53Q4 22: 54Q1 23: 51Q2 23: 52Q3 23: 53Q4 23: 49Q1 24: 52Q2 24: 60Q3 24: 58Q4 24: 57Q1 25: 53Q2 25: 57Q3 25: 5858Q3 22Q2 23Q1 24Q4 24Q3 25
Numbers
QuarterHolders
Q3 202253
Q4 202254
Q1 202351
Q2 202352
Q3 202353
Q4 202349
Q1 202452
Q2 202460
Q3 202458
Q4 202457
Q1 202553
Q2 202557
Q3 202558

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
40040Q4 23: 24 bought or addedQ4 23: 20 cut or sold outQ1 24: 29 bought or addedQ1 24: 13 cut or sold outQ1 24Q2 24: 20 bought or addedQ2 24: 25 cut or sold outQ3 24: 26 bought or addedQ3 24: 27 cut or sold outQ3 24Q4 24: 29 bought or addedQ4 24: 24 cut or sold outQ1 25: 16 bought or addedQ1 25: 34 cut or sold outQ1 25Q2 25: 25 bought or addedQ2 25: 17 cut or sold outQ3 25: 26 bought or addedQ3 25: 28 cut or sold outQ3 25
Numbers
QuarterBought or addedCut or sold out
Q4 20232420
Q1 20242913
Q2 20242025
Q3 20242627
Q4 20242924
Q1 20251634
Q2 20252517
Q3 20252628

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$100k$200k$300kQ4 24 calls: $0Q4 24 puts: $0Q4 24P/C —Q1 25 calls: $0Q1 25 puts: $0Q1 25P/C —Q2 25 calls: $274.5kQ2 25 puts: $77.2kQ2 25P/C 0.28Q3 25 calls: $67.3kQ3 25 puts: $78.5kQ3 25P/C 1.17
Numbers
QuarterCallsPutsP/C
Q4 2024$0$0—
Q1 2025$0$0—
Q2 2025$274.5k$77.2k0.28
Q3 2025$67.3k$78.5k1.17

Biggest buyers

TUDOR INVESTMENT CORP ET AL New +69,550,000+69.5m
Arena Capital Advisors, LLC- CA New +45,729,000+45.7m
Point72 Asset Management, L.P. New +37,000,000+37.0m
DeepCurrents Investment Group LLC Added +30,935,000+30.9m
BANK OF MONTREAL /CAN/ New +23,500,000+23.5m
Opti Capital Management, LP New +21,750,000+21.8m
Walleye Capital LLC New +17,000,000+17.0m
Thrivent Financial for Lutherans Added +6,648,000+6.6m
JPMORGAN CHASE & CO Added +6,485,000+6.5m
BlackRock, Inc. Added +6,140,000+6.1m

Biggest sellers

Linden Advisors LP Reduced -57,860,000-57.9m
AQR Arbitrage LLC Reduced -26,755,000-26.8m
MILLENNIUM MANAGEMENT LLC Reduced -13,619,000-13.6m
ADVENT CAPITAL MANAGEMENT /DE/ Reduced -12,337,000-12.3m
LAZARD ASSET MANAGEMENT LLC Sold out -6,297,000-6.3m
SOROS FUND MANAGEMENT LLC Sold out -5,500,000-5.5m
MORGAN STANLEY Reduced -5,220,000-5.2m
WELLINGTON MANAGEMENT GROUP LLP Reduced -5,044,000-5.0m
SONA ASSET MANAGEMENT (US) LLC Reduced -5,000,000-5.0m
BNP PARIBAS FINANCIAL MARKETS Reduced -4,799,000-4.8m

Biggest calls

Limestone Investment Advisors LP Reduced $67.3k1.8k shares

Biggest puts

Limestone Investment Advisors LP Added $78.5k2.1k shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Holders, Q3 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Linden Advisors LP 1.11% of their portfolio New York, NY 186,013,000186.0m $167.2m $167.2m 1.11% Reduced -57.9m -57,860,000
2 VOYA INVESTMENT MANAGEMENT LLC 0.14% of their portfolio ATLANTA, GA 150,805,000150.8m $135.7m $135.7m 0.14% Unchanged
3 WOLVERINE ASSET MANAGEMENT LLC 1.40% of their portfolio CHICAGO, IL 106,346,000106.3m $95.6m $95.6m 1.40% Added +3.2m +3,198,000
4 Calamos Advisors LLC 0.33% of their portfolio NAPERVILLE, IL 89,853,00089.9m $80.8m $80.8m 0.33% Reduced -21.0k -21,000
5 TUDOR INVESTMENT CORP ET AL 0.41% of their portfolio STAMFORD, CT 69,550,00069.5m $62.7m $62.7m 0.41% New
6 ADVENT CAPITAL MANAGEMENT /DE/ 1.35% of their portfolio NEW YORK, NY 66,630,00066.6m $60.0m $60.0m 1.35% Reduced -12.3m -12,337,000
7 DeepCurrents Investment Group LLC 1.83% of their portfolio NEW YORK, NY 62,164,00062.2m $56.1m $56.1m 1.83% Added +30.9m +30,935,000
8 BlackRock, Inc. 0.00% of their portfolio New York, NY 57,590,00057.6m $51.7m $51.7m 0.00% Added +6.1m +6,140,000
9 Arena Capital Advisors, LLC- CA 17.10% of their portfolio LOS ANGELES, CA 45,729,00045.7m $41.2m $41.2m 17.10% New
10 Point72 Asset Management, L.P. 0.07% of their portfolio STAMFORD, CT 37,000,00037.0m $33.4m $33.4m 0.07% New
11 AQR Arbitrage LLC 0.84% of their portfolio Greenwich, CT 36,647,00036.6m $33.0m $33.0m 0.84% Reduced -26.8m -26,755,000
12 Thrivent Financial for Lutherans 0.06% of their portfolio Minneapolis, MN 35,668,00035.7m $32.0m $32.0m 0.06% Added +6.6m +6,648,000
13 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 25,807,00025.8m $23.2m $23.2m 0.00% Added +1.2m +1,200,000
14 SONA ASSET MANAGEMENT (US) LLC 0.90% of their portfolio NEW YORK, NY 25,400,00025.4m $22.9m $22.9m 0.90% Reduced -5.0m -5,000,000
15 MILLENNIUM MANAGEMENT LLC 0.02% of their portfolio NEW YORK, NY 25,000,00025.0m $22.5m $22.5m 0.02% Reduced -13.6m -13,619,000
16 BANK OF MONTREAL /CAN/ 0.01% of their portfolio TORONTO, A6 23,500,00023.5m $21.2m $21.2m 0.01% New
17 OCONNOR, A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS (LLC) 0.60% of their portfolio CHICAGO, IL 22,000,00022.0m $19.8m $19.8m 0.60% Added +5.0m +5,000,000
18 Opti Capital Management, LP 1.23% of their portfolio New York, NY 21,750,00021.8m $19.6m $19.6m 1.23% New
19 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 20,842,40020.8m $18.7m $18.7m 0.00% Added +4.0m +3,959,000
20 Wellesley Asset Management 1.80% of their portfolio PORTSMOUTH, NH 20,104,00020.1m $18.0m $18.0m 1.80% Added +104.0k +104,000
21 Walleye Capital LLC 0.12% of their portfolio NEW YORK, NY 17,000,00017.0m $15.3m $15.3m 0.12% New
22 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 13,416,00013.4m $12.1m $12.1m 0.00% Added +6.5m +6,485,000
23 Jefferies Financial Group Inc. 0.10% of their portfolio NEW YORK, NY 11,751,00011.8m $10.6m $10.6m 0.10% Reduced -1.7m -1,672,000
24 NEW YORK STATE COMMON RETIREMENT FUND 0.01% of their portfolio ALBANY, NY 8,274,0008.3m $7.4m $7.4m 0.01% Reduced -4.1m -4,135,000
25 FMR LLC 0.00% of their portfolio BOSTON, MA 7,181,0007.2m $6.4m $6.4m 0.00% Reduced -4.1m -4,091,000
26 RATIONAL ADVISORS, INC. 0.52% of their portfolio San Juan, PR 5,780,0005.8m $5.2m $5.2m 0.52% Reduced -2.9m -2,870,000
27 PIER 88 INVESTMENT PARTNERS LLC 0.97% of their portfolio SAN FRANCISCO, CA 5,780,0005.8m $5.2m $5.2m 0.97% Reduced -2.9m -2,870,000
28 LORD, ABBETT & CO. LLC 0.01% of their portfolio JERSEY CITY, NJ 4,650,0004.7m $4.2m $4.2m 0.01% Reduced -120.0k -120,000
29 SSI INVESTMENT MANAGEMENT LLC 0.28% of their portfolio Los Angeles, CA 4,637,0004.6m $4.2m $4.2m 0.28% Reduced -11.0k -11,000
30 Nicholas Investment Partners, LP 0.29% of their portfolio RANCHO SANTA FE, CA 4,285,0004.3m $3.8m $3.8m 0.29% New
31 KIM, LLC 0.41% of their portfolio WICHITA, KS 4,000,0004.0m $3.6m $3.6m 0.41% Unchanged
32 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 3,710,0003.7m $3.3m $3.3m 0.00% Added +2.5m +2,507,000
33 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 3,617,0003.6m $3.3m $3.3m 0.00% Added +1.2m +1,243,000
34 STATE OF WISCONSIN INVESTMENT BOARD 0.01% of their portfolio MADISON, WI 3,000,0003.0m $2.7m $2.7m 0.01% Added +1.0m +1,000,000
35 TORONTO DOMINION BANK 0.00% of their portfolio TORONTO, ONTARIO, A6 2,759,0002.8m $2.5m $2.5m 0.00% Added +2.7m +2,657,000
36 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 2,500,0002.5m $2.2m $2.2m 0.00% Unchanged
37 BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio PARIS, I0 2,466,0002.5m $2.2m $2.2m 0.00% Reduced -4.8m -4,799,000
38 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 2,436,0002.4m $2.2m $2.2m 0.00% Reduced -5.0m -5,044,000
39 Saba Capital Management, L.P. 0.06% of their portfolio NEW YORK, NY 2,000,0002.0m $1.8m $1.8m 0.06% Unchanged
40 MACQUARIE GROUP LTD 0.00% of their portfolio Sydney, NSW 2000, C3 1,777,0001.8m $1.6m $1.6m 0.00% Unchanged
41 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 682,000682.0k $612.1k $612.1k 0.00% Reduced -5.2m -5,220,000
42 NOMURA HOLDINGS INC 0.07% of their portfolio TOKYO, M0 398,208398.2k $14.9m $14.9m 0.07% Unchanged
43 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 300,000300.0k $270.6k $270.6k 0.00% Added +100.0k +100,000
44 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 300,000300.0k $269.6k $269.6k 0.00% New
45 TRUIST FINANCIAL CORP 0.00% of their portfolio CHARLOTTE, NC 146,000146.0k $131.0k $131.0k 0.00% Unchanged
46 Calamos Wealth Management LLC 0.00% of their portfolio NAPERVILLE, IL 128,000128.0k $115.1k $115.1k 0.00% Added +3.0k +3,000
47 Amundi 0.00% of their portfolio Paris, I0 125,000125.0k $112.2k $112.2k 0.00% Reduced -150.0k -150,000
48 INSIGNEO ADVISORY SERVICES, LLC 0.00% of their portfolio MIAMI, FL 36,00036.0k $32.3k $32.3k 0.00% Unchanged
49 UBS Group AG 0.00% of their portfolio ZURICH, V8 27,50027.5k $24.7k $24.7k 0.00% Reduced -473.0k -473,000
50 WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.00% of their portfolio PLYMOUTH, MN 26,00026.0k $23.3k $23.3k 0.00% Unchanged
51 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 22,00022.0k $19.7k $19.7k 0.00% Unchanged
52 Limestone Investment Advisors LP 0.29% of their portfolio NEW YORK, NY 17,13017.1k $640.7k $640.7k 0.29% New
53 Stonegate Investment Group, LLC 0.00% of their portfolio BIRMINGHAM, AL 13,00013.0k $11.7k $11.7k 0.00% Unchanged
54 SG Americas Securities, LLC 0.00% of their portfolio NEW YORK, NY 9,8009.8k $881.0k $881.0k 0.00% Reduced -12.0k -12,000
55 INDEPENDENT FINANCIAL GROUP, LLC 0.01% of their portfolio SAN DIEGO, CA 6,7946.8k $254.1k $254.1k 0.01% New
56 ROTHSCHILD INVESTMENT LLC 0.00% of their portfolio CHICAGO, IL 5,0005.0k $4.5k $4.5k 0.00% Unchanged
57 NORTHWESTERN MUTUAL WEALTH MANAGEMENT CO 0.00% of their portfolio MILWAUKEE, WI 4,0004.0k $3.6k $3.6k 0.00% New
58 ODDO BHF ASSET MANAGEMENT SAS 0.01% of their portfolio PARIS, I0 200200 $180.4k $180.4k 0.01% Unchanged