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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
Allianz Asset Management
101
Allianz Asset Management
Germany
$1.29M +$67.8K +2,118 +6%
AQR Capital Management
102
AQR Capital Management
Connecticut
$1.28M +$1.19M +37,236 New
BNP Paribas Financial Markets
103
BNP Paribas Financial Markets
France
$1.24M -$93K -2,904 -7%
Federated Hermes
104
Federated Hermes
Pennsylvania
$1.2M +$44.2K +1,380 +4%
Tudor Investment Corp
105
Tudor Investment Corp
Connecticut
$1.2M +$769K +24,012 +222%
CEP
106
Chicago Equity Partners
Illinois
$1.19M +$1.1M +34,470 New
State Board of Administration of Florida Retirement System
107
State Board of Administration of Florida Retirement System
Florida
$1.17M – – –
SOMRS
108
State of Michigan Retirement System
Michigan
$1.01M -$38.4K -1,200 -4%
OPERF
109
Oregon Public Employees Retirement Fund
Oregon
$984K +$23.2K +726 +3%
Barclays
110
Barclays
United Kingdom
$935K +$383K +11,976 +79%
CPC
111
Cookson Peirce & Co
Pennsylvania
$933K +$869K +27,150 New
BC
112
Brinker Capital
Pennsylvania
$891K +$830K +25,938 New
MERSOM
113
Municipal Employees' Retirement System of Michigan
Michigan
$806K -$165K -5,160 -18%
MF
114
Magnetar Financial
Illinois
$770K +$718K +22,416 New
Squarepoint
115
Squarepoint
New York
$752K -$623K -19,464 -47%
LSERS
116
Louisiana State Employees Retirement System
Louisiana
$722K +$57.6K +1,800 +9%
LMGAM
117
Liberty Mutual Group Asset Management
Massachusetts
$667K -$282K -8,808 -31%
UBS Group
118
UBS Group
Switzerland
$647K -$8.14M -254,196 -93%
KJHP
119
K.J. Harrison & Partners
Ontario, Canada
$633K – – –
CCA
120
Catalyst Capital Advisors
New York
$633K +$32.7K +1,020 +6%
Wolverine Trading
121
Wolverine Trading
Illinois
$595K +$168K +5,256 +44%
Thrivent Financial for Lutherans
122
Thrivent Financial for Lutherans
Minnesota
$569K +$49.9K +1,560 +10%
TRSOTSOK
123
Teachers Retirement System of the State of Kentucky
Kentucky
$561K – – –
N
124
Natixis
France
$531K +$494K +15,444 New
SGI
125
Summit Global Investments
Utah
$516K -$173K -5,400 -26%
3 4
5
6 7

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.