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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
ESBC
51
E.S. Barr & Co
Kentucky
$1.78M -$720K -42,000 -31%
FBT
52
First Bankers Trust
Kentucky
$1.73M -$20.6K -1,200 -1%
Swiss National Bank
53
Swiss National Bank
Switzerland
$1.6M – – –
KJHP
54
K.J. Harrison & Partners
Ontario, Canada
$1.6M +$193K +11,280 +16%
Morgan Stanley
55
Morgan Stanley
New York
$1.55M -$117K -6,840 -8%
ACM
56
Altimeter Capital Management
Massachusetts
$1.53M – – –
PRCM
57
Pine River Capital Management
Minnesota
$1.51M +$275K +16,008 +26%
PPA
58
Parametric Portfolio Associates
Washington
$1.5M -$14.5K -846 -1%
HIP
59
Hatteras Investment Partners
North Carolina
$1.39M – – –
NFA
60
Nationwide Fund Advisors
Ohio
$1.3M -$36.6K -2,136 -3%
MLICM
61
Metropolitan Life Insurance Company (MetLife)
New York
$1.2M +$55.4K +3,228 +5%
State Board of Administration of Florida Retirement System
62
State Board of Administration of Florida Retirement System
Florida
$1.15M – – –
GC
63
Globeflex Capital
California
$1.11M +$998K +58,200 New
Stifel Financial
64
Stifel Financial
Missouri
$1.05M – – –
Renaissance Technologies
65
Renaissance Technologies
New York
$1.02M -$6.76M -394,200 -88%
AIG
66
American International Group
New York
$971K – – –
Invesco
67
Invesco
Georgia
$956K +$60.6K +3,534 +8%
BA
68
BlackRock Advisors
Delaware
$943K +$127K +7,410 +18%
MWAN
69
Mariner Wealth Advisors (NYC)
Kansas
$920K +$823K +48,000 New
N
70
Nuveen
North Carolina
$879K +$786K +45,852 New
CS
71
Credit Suisse
Switzerland
$857K -$965K -56,238 -56%
AQR Capital Management
72
AQR Capital Management
Connecticut
$839K +$82.3K +4,800 +12%
Wells Fargo
73
Wells Fargo
California
$754K +$378K +22,014 +127%
SYBT
74
Stock Yards Bank & Trust
Kentucky
$748K – – –
PCM
75
Price Capital Management
Louisiana
$732K +$655K +38,190 New
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.