Parvus Asset Management Jersey Limited and its director Edoardo Mercadante report beneficial ownership of 8,995,293 ordinary shares of Flutter Entertainment plc, representing 5.1% of the company’s ordinary shares as of December 31, 2025, based on 175,224,066 shares outstanding.
The shares are held by funds advised by Parvus, with Parvus and Mr. Mercadante sharing voting and dispositive power over the reported stake. They state the holdings are maintained in the ordinary course of business and not for the purpose of changing or influencing control of Flutter.
Positive
None.
Negative
None.
Insights
Parvus discloses a 5.1% passive stake in Flutter Entertainment.
Parvus Asset Management Jersey Limited and director Edoardo Mercadante report beneficial ownership of 8,995,293 Flutter ordinary shares, equal to 5.1% of the class, held across funds advised by Parvus. Both report shared voting and dispositive power over this position.
The percentage is calculated using 175,224,066 ordinary shares outstanding as of December 31, 2025, as disclosed in Flutter’s Form 8-K. The filers certify the position is held in the ordinary course of business and not to change or influence control, which aligns with a passive institutional holding.
Because the filing is on Schedule 13G with explicit passive-intent language, it primarily informs the market about a sizable institutional owner in Flutter rather than signaling an activist campaign. Future ownership reports from Parvus or Flutter’s filings may update this stake over time.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
Flutter Entertainment plc
(Name of Issuer)
Ordinary Shares, nominal value (euro) 0.09 per share
(Title of Class of Securities)
G3643J108
(CUSIP Number)
12/31/2025
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
SCHEDULE 13G
CUSIP No.
G3643J108
1
Names of Reporting Persons
Parvus Asset Management Jersey Limited
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
JERSEY
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
8,995,293.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
8,995,293.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
8,995,293.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
5.1 %
12
Type of Reporting Person (See Instructions)
IA, OO
SCHEDULE 13G
CUSIP No.
G3643J108
1
Names of Reporting Persons
Edoardo Mercadante
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
ITALY
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
8,995,293.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
8,995,293.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
8,995,293.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
5.1 %
12
Type of Reporting Person (See Instructions)
HC, IN
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
Flutter Entertainment plc
(b)
Address of issuer's principal executive offices:
One Madison Avenue, New York, New York, 10010
Item 2.
(a)
Name of person filing:
This statement is filed by:
(i) Parvus Asset Management Jersey Limited, a Jersey private limited company ("Parvus"), with respect to the ordinary shares, nominal value (euro) 0.09 per share ("Ordinary Shares") of Flutter Entertainment plc, a public limited company incorporated in the Republic of Ireland (the "Company"), held by certain funds to which it serves as investment advisor (the "Parvus Funds"); and
(ii) Edoardo Mercadante ("Mr. Mercadante," and together with Parvus, the "Reporting Persons"), a director and the ultimate control person of Parvus, with respect to the Shares directly held by the Parvus Funds.
The filing of this statement should not be construed as an admission that any Reporting Person is, for purposes of Section 13 of the Act, the beneficial owner of the securities reported herein.
(b)
Address or principal business office or, if none, residence:
The address of the business office of each of the Reporting Persons is 2nd Floor, No. 4, The Forum, Grenville Street, St. Helier, Y9 JE2 4UF
(c)
Citizenship:
Parvus is a Jersey private limited company. Mr. Mercadante is a citizen of Italy.
(d)
Title of class of securities:
Ordinary Shares, nominal value (euro) 0.09 per share
(e)
CUSIP No.:
G3643J108
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
The information required by Item 4(a) is set forth in Row 9 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
The percentage set forth on this Schedule 13G is calculated based upon an aggregate of 175,224,066 Ordinary Shares outstanding as of December 31, 2025 as reported in the Company's Current Report on Form 8-K filed with the Securities Exchange Commission on January 2, 2026.
(b)
Percent of class:
5.1%
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
The information required by Item 4(c)(i) is set forth in Row 5 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
(ii) Shared power to vote or to direct the vote:
The information required by Item 4(c)(ii) is set forth in Row 6 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
(iii) Sole power to dispose or to direct the disposition of:
The information required by Item 4(c)(iii) is set forth in Row 7 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
(iv) Shared power to dispose or to direct the disposition of:
The information required by Item 4(c)(iv) is set forth in Row 8 of the cover page for each of the Reporting Persons and is incorporated herein by reference.
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
See Item 2(a).
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
