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Churchill Downs
CHDN

116 hedge funds and large institutions have $1.25B invested in Churchill Downs in 2015 Q1 according to their latest regulatory filings, with 17 funds opening new positions, 41 increasing their positions, 38 reducing their positions, and 11 closing their positions.

New
Increased
Maintained
Reduced
Closed

55% more first-time investments, than exits

New positions opened: 17 | Existing positions closed: 11

25% more funds holding in top 10

Funds holding in top 10: 4 → 5 (+1)

22% more capital invested

Capital invested by funds: $1.03B → $1.25B (+$222M)

5% more funds holding

Funds holding: 111 → 116 (+5)

8% more repeat investments, than reductions

Existing positions increased: 41 | Existing positions reduced: 38

8% less call options, than puts

Call options by funds: $1.52M | Put options by funds: $1.66M

Holders
116
Holders Change
+5
Holders Change %
+4.5%
% of All Funds
3.09%
Holding in Top 10
5
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+25%
% of All Funds
0.13%
New
17
Increased
41
Reduced
38
Closed
11
Calls
$1.52M
Puts
$1.66M
Net Calls
-$137K
Net Calls Change
-$157K

Top Buyers

1
CRM
Cramer Rosenthal McGlynn
Connecticut
+$23M
2
TBC
Three Bays Capital
Massachusetts
+$18.8M
3
CCM
Clovis Capital Management
New York
+$11.6M
4
Bank of America
Bank of America
North Carolina
+$5.82M
5
Vanguard Group
Vanguard Group
Pennsylvania
+$4.49M

Top Sellers

1
SFM
Soros Fund Management
New York
-$11.7M
2
GIM
Granahan Investment Management
Massachusetts
-$11.5M
3
Wellington Management Group
Wellington Management Group
Massachusetts
-$11.1M
4
Renaissance Technologies
Renaissance Technologies
New York
-$6.76M
5
Dimensional Fund Advisors
Dimensional Fund Advisors
Texas
-$6.53M
Name Holding Trade Value Shares
Change 		Change in
Stake
Geode Capital Management
26
Geode Capital Management
Massachusetts
$9.17M +$142K +8,292 +2%
TA
27
Teton Advisors
New York
$8.28M -$154K -9,000 -2%
Two Sigma Advisers
28
Two Sigma Advisers
New York
$7.66M -$2.18M -126,882 -24%
Bank of America
29
Bank of America
North Carolina
$6.71M +$5.82M +339,306 +3,070%
D.E. Shaw & Co
30
D.E. Shaw & Co
New York
$5.85M +$2.43M +141,558 +86%
RFC
31
Russell Frank Company
Washington
$5.79M -$695K -40,542 -12%
TCIM
32
TIAA CREF Investment Management
New York
$5.64M -$95.9K -5,592 -2%
Two Sigma Investments
33
Two Sigma Investments
New York
$5.63M -$1.8M -104,694 -26%
PNC Financial Services Group
34
PNC Financial Services Group
Pennsylvania
$5.51M +$311K +18,150 +7%
Charles Schwab
35
Charles Schwab
California
$5.15M +$451K +26,286 +11%
MCP
36
Moab Capital Partners
New York
$5.08M -$257K -15,000 -5%
BPIM
37
Brant Point Investment Management
New York
$5.07M -$134K -7,800 -3%
JP Morgan Chase
38
JP Morgan Chase
New York
$4.64M -$552K -32,160 -12%
BIM
39
BlackRock Investment Management
Delaware
$4.46M +$61.2K +3,570 +2%
PL
40
Parthenon LLC
Kentucky
$3.7M – – –
Deutsche Bank
41
Deutsche Bank
Germany
$3.53M +$633K +36,900 +25%
TPCM
42
Three Peaks Capital Management
Colorado
$3.12M +$1.72M +100,404 +161%
California State Teachers Retirement System (CalSTRS)
43
California State Teachers Retirement System (CalSTRS)
California
$2.83M -$30.9K -1,800 -1%
UMA
44
USA Mutuals Advisors
Texas
$2.64M – – –
AllianceBernstein
45
AllianceBernstein
Tennessee
$2.59M -$134K -7,800 -5%
California Public Employees Retirement System
46
California Public Employees Retirement System
California
$2.59M – – –
TA
47
Teachers Advisors
New York
$2.33M +$140K +8,184 +7%
Susquehanna International Group
48
Susquehanna International Group
Pennsylvania
$1.98M +$643K +37,506 +57%
RhumbLine Advisers
49
RhumbLine Advisers
Massachusetts
$1.97M +$156K +9,072 +10%
USAA
50
United Services Automobile Association
Texas
$1.85M -$1.1M -64,320 -40%
1
2
3 4 5

CHDN Hedge Fund Activity: Q1 2015 in Review

116 of the 3,752 institutional investors tracked by Wall St. Rank reported a position in Churchill Downs (CHDN) for Q1 2015, worth a combined $1.25B — up 22% from $1.03B a quarter earlier.

Buyers outnumbered sellers: 17 funds opened new CHDN positions and 11 closed out — a net gain of 6 holders — while 41 added to existing stakes and 38 trimmed.

The largest buyer was Cramer Rosenthal McGlynn, opening a new position worth an estimated $23M. The largest seller was Soros Fund Management, cutting an estimated $11.7M.

  • 116 institutional investors held Churchill Downs (CHDN) as of Q1 2015, up from 111 in Q4 2014.
  • Funds reported $1.25B of Churchill Downs stock for Q1 2015, up 22% quarter-over-quarter.
  • 17 funds opened new Churchill Downs positions in Q1 2015 and 11 closed out, a net change of +6 holders.
  • The largest Churchill Downs buyer in Q1 2015 was Cramer Rosenthal McGlynn, an estimated $23M added.
  • The largest Churchill Downs seller in Q1 2015 was Soros Fund Management, an estimated $11.7M sold.

Based on aggregated 13F filings for Q1 2015.