Shares of DraftKings (NASDAQ: DKNG) ticked slightly lower in Thursday’s after‑hours session perhaps due in part to a regulatory filing indicating 3G Capital eliminated its position in the gaming company. DraftKings and Wynn Resorts were among the gaming stocks eliminated by some hedge funds in the second quarter.

A new Form 13F filing with the Securities and Exchange Commission (SEC) by Jorge Paulo Lehman’s hedge fund confirms the money manager dropped its DraftKings investment at some point during the second quarter. It entered that period with 70,000 shares of the sportsbook operator’s Class A stock. 13F filings don’t note how much professional investors made or lost on trades, but it appears 3G may have taken a loss on the portion of DraftKings it sold in the second quarter because its average price paid for the shares was $38.20 — a price point the stock rarely saw in the April through June period. The writing may have been on the wall as it relates to 3G and DraftKings because the money manager began paring its investment in the online sportsbook operator in the first quarter. Still, the gaming stock remains widely owned among asset managers and hedge funds with Scopia Capital, Contour Asset Management, and Whale Rock Capital Management allocating the largest percentages of their portfolios to the stock.

DraftKings wasn’t the only gaming stock to be axed by a hedge fund in the second quarter. David Tepper’s Appaloosa Management eliminated its position in Wynn Resorts (NASDAQ: WYNN), a stock the money manager previously moved in and out of. As of June 30, Tepper’s hedge fund maintained a position in Caesars Entertainment (NASDAQ: CZR), another gaming name the firm has shuffled in and out of over the years. The billionaire financier is also the owner of the NFL’s Carolina Panthers.

In other 13F news, George Soros’s Soros Fund Management appears to have eliminated its position in Las Vegas Sands (NYSE: LVS), which was initiated in the first quarter. Depending on when the selling was executed, Soros Fund Management may have made a mint in Sands because the stock surged over the course of the second quarter. The family office’s gaming investments as of June 30 were Caesars Entertainment (NASDAQ: CZR), Churchill Downs (NASDAQ: CHDN), and Flutter Entertainment (NYSE: FLUT), which appears to be a new addition.

With 13F filing season in full swing, investors can expect a flurry of mentions of gaming equities because those stocks have long been favorites of professional investors for both long and short purposes. Thus far, not all of the mentions have been sales. David Einhorn’s DME Capital Management increased its stake in regional casino operator Penn Entertainment (NASDAQ: PENN). Keith Meister’s Corvex maintained its stake in MGM Resorts International (NYSE: MGM), which isn’t surprising considering he’s a director at that company.

3G Capital Departs DraftKings, Tepper Exits Wynn

The article reports that 3G Capital sold its DraftKings stake during the second quarter, and David Tepper’s Appaloosa Management exited Wynn Resorts. It also details other hedge‑fund moves in the gaming sector, including Soros Fund Management’s sale of Las Vegas Sands and continued holdings in Caesars Entertainment, Churchill Downs, and Flutter Entertainment.