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Churchill Downs
CHDN

155 hedge funds and large institutions have $1.53B invested in Churchill Downs in 2016 Q2 according to their latest regulatory filings, with 32 funds opening new positions, 63 increasing their positions, 44 reducing their positions, and 29 closing their positions.

New
Increased
Maintained
Reduced
Closed

43% more repeat investments, than reductions

Existing positions increased: 63 | Existing positions reduced: 44

10% more first-time investments, than exits

New positions opened: 32 | Existing positions closed: 29

1% more funds holding

Funds holding: 153 → 155 (+2)

8% less capital invested

Capital invested by funds: $1.66B → $1.53B (-$129M)

11% less call options, than puts

Call options by funds: $2.63M | Put options by funds: $2.94M

33% less funds holding in top 10

Funds holding in top 10: 6 → 4 (-2)

Holders
155
Holders Change
+2
Holders Change %
+1.31%
% of All Funds
4.14%
Holding in Top 10
4
Holding in Top 10 Change
-2
Holding in Top 10 Change %
-33.33%
% of All Funds
0.11%
New
32
Increased
63
Reduced
44
Closed
29
Calls
$2.63M
Puts
$2.94M
Net Calls
-$312K
Net Calls Change
-$1.84M

Top Buyers

1
BFA
BlackRock Fund Advisors
California
+$44.2M
2
TBC
Three Bays Capital
Massachusetts
+$33.7M
3
State Street
State Street
Massachusetts
+$23M
4
Northwestern Mutual Wealth Management
Northwestern Mutual Wealth Management
Wisconsin
+$17.7M
5
PCM
PAR Capital Management
Massachusetts
+$17.4M

Top Sellers

1
HVCM
HG Vora Capital Management
New York
-$35.5M
2
Balyasny Asset Management
Balyasny Asset Management
Illinois
-$15.7M
3
Dimensional Fund Advisors
Dimensional Fund Advisors
Texas
-$15.3M
4
FTCM
Fir Tree Capital Management
New York
-$14.9M
5
Allianz Asset Management
Allianz Asset Management
Germany
-$14.8M
Name Holding Trade Value Shares
Change 		Change in
Stake
ASRS
101
Arizona State Retirement System
Arizona
$682K +$714K +32,400 New
UBS AM
102
UBS AM
Illinois
$633K -$193K -8,742 -23%
BlackRock
103
BlackRock
New York
$613K +$521K +23,664 +438%
Tudor Investment Corp
104
Tudor Investment Corp
Connecticut
$607K +$375K +17,004 +144%
SOMRS
105
State of Michigan Retirement System
Michigan
$607K +$635K +28,800 New
HCM
106
Highbridge Capital Management
New York
$555K +$227K +10,302 +64%
KBC Group
107
KBC Group
Belgium
$540K – – –
Legal & General Group
108
Legal & General Group
United Kingdom
$427K +$76.7K +3,480 +21%
LSERS
109
Louisiana State Employees Retirement System
Louisiana
$404K +$423K +19,200 New
UBS Group
110
UBS Group
Switzerland
$382K -$506K -22,956 -56%
PP
111
Paloma Partners
Connecticut
$376K -$735K -33,366 -65%
AIP
112
Ameritas Investment Partners
Nebraska
$373K +$390K +17,712 New
B
113
Barings
North Carolina
$340K – – –
ProShare Advisors
114
ProShare Advisors
Maryland
$335K +$145K +6,576 +70%
WCM
115
Wedge Capital Management
North Carolina
$309K -$53.1K -2,412 -14%
COPPSERS
116
Commonwealth of Pennsylvania Public School Employees Retirement System
Pennsylvania
$292K +$306K +13,884 New
US Bancorp
117
US Bancorp
Minnesota
$286K -$40.2K -1,824 -12%
NMIMC
118
Northwestern Mutual Investment Management Company
Wisconsin
$262K +$274K +12,450 New
ONB
119
Old National Bancorp
Indiana
$253K – – –
BFM
120
Boothbay Fund Management
New York
$227K -$3.31K -150 -1%
Teacher Retirement System of Texas
121
Teacher Retirement System of Texas
Texas
$221K -$489K -22,176 -68%
SCM
122
Stevens Capital Management
Pennsylvania
$217K +$42.7K +1,938 +23%
Thrivent Financial for Lutherans
123
Thrivent Financial for Lutherans
Minnesota
$217K +$227K +10,320 New
AB
124
Amalgamated Bank
New York
$215K +$196K +8,910 New
Barclays
125
Barclays
United Kingdom
$206K +$34.8K +1,578 +19%
3 4
5
6 7

CHDN Hedge Fund Activity: Q2 2016 in Review

155 of the 3,748 institutional investors tracked by Wall St. Rank reported a position in Churchill Downs (CHDN) for Q2 2016, worth a combined $1.53B — down 7.8% from $1.66B a quarter earlier.

Buyers outnumbered sellers: 32 funds opened new CHDN positions and 29 closed out — a net gain of 3 holders — while 63 added to existing stakes and 44 trimmed.

The largest buyer was BlackRock Fund Advisors, adding an estimated $44.2M. The largest seller was HG Vora Capital Management, exiting entirely with an estimated $35.5M sold.

  • 155 institutional investors held Churchill Downs (CHDN) as of Q2 2016, up from 153 in Q1 2016.
  • Funds reported $1.53B of Churchill Downs stock for Q2 2016, down 7.8% quarter-over-quarter.
  • 32 funds opened new Churchill Downs positions in Q2 2016 and 29 closed out, a net change of +3 holders.
  • The largest Churchill Downs buyer in Q2 2016 was BlackRock Fund Advisors, an estimated $44.2M added.
  • The largest Churchill Downs seller in Q2 2016 was HG Vora Capital Management, an estimated $35.5M sold.

Based on aggregated 13F filings for Q2 2016.