10% Owner Kenneth Dart Extends Accumulation Streak with $30.4M in Total Return Swaps
FLUT is trading near its 52-week low of $91.52 (11% above the low).
Summary
10% owner Kenneth Dart purchased $30.4 million in Total Return Swaps on Flutter Entertainment, continuing a pattern of heavy accumulation that has totaled over $529 million in the past 90 days.
Key Events · Ownership and Investor Activity · FLUT
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$30.4M Swap Purchase
Kenneth Dart acquired Total Return Swaps referencing 306,300 shares at $99.37 per share, increasing his economic exposure to approximately 18.9 million notional shares.
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Accumulation Streak Continues
This purchase extends a 90-day buying spree totaling over $529 million, with multiple Form 4 filings showing consistent large-scale swap acquisitions.
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Context: Leadership and Guidance Shifts
The accumulation comes after FanDuel CEO Amy Howe's departure and a downward revision to full-year 2026 guidance, suggesting Dart sees long-term value despite near-term headwinds.
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Swap Terms
The swap matures on March 2, 2028, is cash-settled, and requires Dart to pay monthly interest at SOFR-based rates while receiving dividend equivalents.
Analysis · FLUT · Technology
Kenneth Dart, a 10% owner of Flutter Entertainment, purchased $30.4 million in Total Return Swaps referencing 306,300 shares at $99.37 per share. This marks the latest in a series of large swap purchases over the past 90 days, bringing his total economic exposure to approximately 18.9 million notional shares. The transaction represents a 0.17% increase in his position relative to the company's market cap, and continues a pattern of aggressive accumulation amid recent leadership changes and a downward guidance revision. While Dart is a financial investor rather than an operator, the sheer scale and consistency of his buying — over $529 million in the last 90 days — signals strong conviction in the company's long-term value.
How filings like this one have moved
In the 30 days to Sep 17, 2026, 29.6% of the 1742 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.35%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, FLUT was trading at $101.77 on NYSE in the Technology sector, with a market capitalization of approximately $17.6B. The 52-week trading range was $91.52 to $313.69. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.