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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 read

· Last updated: April 1, 2026

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Parvus doubles stake to become second-largest investor in betting giant Flutter

Finance Investing Markets

Global Banking & Finance Awards 2026 — Call for Entries

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

Parvus Becomes Second-Largest Shareholder in Flutter Entertainment

Parvus Asset Management Increases Stake in Flutter Entertainment

Stake Increase Details

The hedge fund increased its stake in Flutter to 10.7%, a filing showed, from its previous stake of 5.1%.

Parvus' Position and Response

Parvus did not disclose a reason behind the stake increase and did not immediately respond to Reuters' request for comment.

Flutter Entertainment's Recent Performance

Profit Forecast and Market Challenges

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.

Shareholder Overview

Top Shareholders

Kenneth Dart's Stake

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)

Key Takeaways

Parvus Asset Management has increased its stake in Flutter Entertainment to 10.7%, up from about 5.1%, becoming the second-largest investor in the company, according to LSEG data cited by Reuters.
Billionaire Kenneth Dart remains the largest shareholder with an 18.63% holding, underlining a concentration of influence among key investors.
Flutter’s modest 2026 profit outlook reflects tougher conditions in its core U.S. market, including softer customer acquisition and the underperformance of promotional strategies.

References

Frequently Asked Questions

Who is the second-largest shareholder in Flutter Entertainment?

Parvus Asset Management is now the second-largest shareholder in Flutter Entertainment after doubling its stake to 10.7%.

What stake does Parvus hold in Flutter Entertainment?

Parvus Asset Management holds a 10.7% stake in Flutter Entertainment according to recent filings.

Who is the largest shareholder in Flutter Entertainment?

Cayman Islands–based billionaire Kenneth Dart is the largest shareholder with an 18.63% stake.

Did Parvus disclose a reason for increasing its stake?

No, Parvus did not disclose a reason for the stake increase and did not respond to requests for comment.

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Parvus doubles stake to become second-largest investor in betting giant Flutter

Parvus Becomes Second-Largest Shareholder in Flutter Entertainment