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Churchill Downs
CHDN

190 hedge funds and large institutions have $2.34B invested in Churchill Downs in 2017 Q3 according to their latest regulatory filings, with 32 funds opening new positions, 74 increasing their positions, 58 reducing their positions, and 13 closing their positions.

New
Increased
Maintained
Reduced
Closed

146% more first-time investments, than exits

New positions opened: 32 | Existing positions closed: 13

50% more funds holding in top 10

Funds holding in top 10: 2 → 3 (+1)

28% more repeat investments, than reductions

Existing positions increased: 74 | Existing positions reduced: 58

22.5% more ownership

Funds ownership: 420.21% → 442.71% (+23%)

11% more funds holding

Funds holding: 171 → 190 (+19)

11% more capital invested

Capital invested by funds: $2.12B → $2.34B (+$228M)

41% less call options, than puts

Call options by funds: $4.39M | Put options by funds: $7.42M

Holders
190
Holders Change
+19
Holders Change %
+11.11%
% of All Funds
4.74%
Holding in Top 10
3
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+50%
% of All Funds
0.07%
New
32
Increased
74
Reduced
58
Closed
13
Calls
$4.39M
Puts
$7.42M
Net Calls
-$3.03M
Net Calls Change
-$4.73M

Top Buyers

1
SAM
Scopus Asset Management
New York
+$19.6M
2
Acadian Asset Management
Acadian Asset Management
Massachusetts
+$16M
3
Victory Capital Management
Victory Capital Management
Texas
+$9.09M
4
Fidelity Investments
Fidelity Investments
Massachusetts
+$8.36M
5
CF
Cypress Funds
California
+$7.78M

Top Sellers

1
TBC
Three Bays Capital
Massachusetts
-$55.2M
2
SFM
Soros Fund Management
New York
-$33.5M
3
American Century Companies
American Century Companies
Missouri
-$15.4M
4
GI
GAMCO Investors
Connecticut
-$9.1M
5
GF
Gabelli Funds
New York
-$8.47M
Name Holding Trade Value Shares
Change 		Change in
Stake
Arrowstreet Capital
51
Arrowstreet Capital
Massachusetts
$6.84M +$6.37M +198,918 New
BPIM
52
Brant Point Investment Management
New York
$6.72M -$76.8K -2,400 -1%
AllianceBernstein
53
AllianceBernstein
Tennessee
$6.67M +$1.98M +61,800 +47%
EMFAT
54
Emerald Mutual Fund Advisers Trust
Pennsylvania
$6.65M -$1.89M -58,902 -23%
RhumbLine Advisers
55
RhumbLine Advisers
Massachusetts
$6.54M +$887K +27,690 +17%
Schroder Investment Management Group
56
Schroder Investment Management Group
United Kingdom
$6.09M -$2.9M -90,570 -34%
NFA
57
Nationwide Fund Advisors
Ohio
$6.03M +$72.4K +2,262 +1%
Manulife (Manufacturers Life Insurance)
58
Manulife (Manufacturers Life Insurance)
Ontario, Canada
$5.92M +$107K +3,342 +2%
GT
59
Glenview Trust
Kentucky
$5.55M +$50.7K +1,584 +1%
California Public Employees Retirement System
60
California Public Employees Retirement System
California
$5.3M +$620K +19,350 +14%
EAM
61
EULAV Asset Management
Florida
$5.24M +$76.8K +2,400 +2%
PL
62
Parthenon LLC
Kentucky
$5.23M -$186K -5,820 -4%
Swiss National Bank
63
Swiss National Bank
Switzerland
$4.85M – – –
UMA
64
USA Mutuals Advisors
Texas
$4.74M – – –
Bank of America
65
Bank of America
North Carolina
$4.64M +$876K +27,372 +25%
GAM
66
Gotham Asset Management
New York
$4.59M +$4.28M +133,536 New
Goldman Sachs
67
Goldman Sachs
New York
$4.47M -$2.25M -70,428 -35%
California State Teachers Retirement System (CalSTRS)
68
California State Teachers Retirement System (CalSTRS)
California
$4.45M -$454K -14,172 -10%
Russell Investments Group
69
Russell Investments Group
United Kingdom
$4.41M +$2.5M +78,150 +155%
MLICM
70
Metropolitan Life Insurance Company (MetLife)
New York
$4.25M +$78.2K +2,442 +2%
CS
71
Credit Suisse
Switzerland
$3.93M +$1.81M +56,628 +98%
Wells Fargo
72
Wells Fargo
California
$3.86M +$245K +7,644 +7%
PPA
73
Parametric Portfolio Associates
Washington
$3.79M +$428K +13,380 +14%
AP
74
AHL Partners
United Kingdom
$3.75M -$8.34M -260,550 -70%
KFBMI
75
Kentucky Farm Bureau Mutual Insurance
Kentucky
$3.51M – – –
1 2
3
4 5

CHDN Hedge Fund Activity: Q3 2017 in Review

190 of the 4,011 institutional investors tracked by Wall St. Rank reported a position in Churchill Downs (CHDN) for Q3 2017, worth a combined $2.34B — up 11% from $2.12B a quarter earlier.

Buyers outnumbered sellers: 32 funds opened new CHDN positions and 13 closed out — a net gain of 19 holders — while 74 added to existing stakes and 58 trimmed.

The largest buyer was Scopus Asset Management, adding an estimated $19.6M. The largest seller was Three Bays Capital, cutting an estimated $55.2M.

  • 190 institutional investors held Churchill Downs (CHDN) as of Q3 2017, up from 171 in Q2 2017.
  • Funds reported $2.34B of Churchill Downs stock for Q3 2017, up 11% quarter-over-quarter.
  • 32 funds opened new Churchill Downs positions in Q3 2017 and 13 closed out, a net change of +19 holders.
  • The largest Churchill Downs buyer in Q3 2017 was Scopus Asset Management, an estimated $19.6M added.
  • The largest Churchill Downs seller in Q3 2017 was Three Bays Capital, an estimated $55.2M sold.

Based on aggregated 13F filings for Q3 2017.