Steven Cohen's Point72 Asset Management sold its entire stake in DraftKings (DKNG), valued at approximately $54.50 million, during the second quarter of 2026. The complete liquidation involved selling all 2.52 million shares the fund held in the digital sports entertainment and gaming company.
This trade was disclosed in a quarterly 13F filing on August 14, 2026, which details positions held as of June 30. Therefore, the transactions occurred between April and June. During that quarter, DraftKings reported a 4.6% year-over-year decrease in revenue to $1.44 billion, citing customer-friendly sports outcomes, though it also saw a 9% increase in monthly unique payers.