Finance
Parvus doubles stake to become second-largest investor in betting giant flutter
Published by Global Banking & Finance Review®
Posted on March 6, 2026
1 min readLast updated: March 6, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on March 6, 2026
1 min readLast updated: March 6, 2026
Activist investor Parvus Asset Management has boosted its stake in Flutter Entertainment—the FanDuel operator—from around 5.1% to 10.7%, making it the second-largest shareholder behind Kenneth Dart, as Flutter grapples with weakened 2026 profit guidance amid U.S. challenges.
March 6 (Reuters) - Activist investor Parvus Asset Management doubled its stake in FanDuel-owner Flutter Entertainment on Friday, becoming the second-largest shareholder in the firm, according to data compiled by LSEG.
The hedge fund increased its stake in Flutter to 10.7%, a filing showed, from its previous stake of 5.1%.
Parvus did not disclose a reason behind the stake increase and did not immediately respond to Reuters' request for comment.
Flutter, the world's largest online betting firm, forecast 2026 profit growth far below expectations last month due to challenges in its main U.S. market compounded by misfiring attempts to win customers over with promotions and bonuses.
Cayman Islands–based billionaire investor Kenneth Dart is Flutter's top shareholder with a 18.63% stake, according to LSEG-compiled data.
(Reporting by Yamini Kalia in Bengaluru; Editing by Shreya Biswas)
Parvus Asset Management is now the second-largest shareholder in Flutter Entertainment after doubling its stake to 10.7%.
Parvus Asset Management holds a 10.7% stake in Flutter Entertainment according to recent filings.
Cayman Islands–based billionaire Kenneth Dart is the largest shareholder with an 18.63% stake.
No, Parvus did not disclose a reason for the stake increase and did not respond to requests for comment.
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