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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
GT
151
Glenmede Trust
Pennsylvania
$12K +$13.2K +600 New
IR
152
Invictus RG
Bermuda
$8K -$261K -11,850 -97%
IA
153
IFP Advisors
Florida
$6K -$13.7K -624 -70%
Creative Planning
154
Creative Planning
Kansas
$6K – – –
Bessemer Group
155
Bessemer Group
New Jersey
$5K – – –
AG
156
Advisor Group
Arizona
$2K +$2.91K +132 New
HVCM
157
HG Vora Capital Management
New York
– -$35.5M -1,440,000 Closed
FTCM
158
Fir Tree Capital Management
New York
– -$14.9M -603,996 Closed
AIM
159
Artemis Investment Management
United Kingdom
– -$7.87M -319,272 Closed
GAM
160
Gotham Asset Management
New York
– -$6.93M -281,256 Closed
ICRM
161
Insight Capital Research & Management
California
– -$5.09M -206,520 Closed
Marshall Wace
162
Marshall Wace
United Kingdom
– -$4.94M -200,406 Closed
FBT
163
First Bankers Trust
Kentucky
– -$2.18M -88,590 Closed
HMS
164
Hanseatic Management Services
New Mexico
– -$1.9M -77,166 Closed
DILH
165
Dai-ichi Life Holdings
Japan
– -$1.39M -56,256 Closed
Arrowstreet Capital
166
Arrowstreet Capital
Massachusetts
– -$1.32M -53,400 Closed
Susquehanna International Group
167
Susquehanna International Group
Pennsylvania
– -$1.09M -49,404 Closed
SO
168
STRS Ohio
Ohio
– -$1.15M -46,800 Closed
SAM
169
Sawgrass Asset Management
Florida
– -$943K -38,280 Closed
KJHP
170
K.J. Harrison & Partners
Ontario, Canada
– -$784K -31,800 Closed
LCM
171
Landscape Capital Management
New Jersey
– -$769K -31,194 Closed
PP
172
PDT Partners
New York
– -$713K -28,914 Closed
TC
173
TFS Capital
Pennsylvania
– -$690K -27,996 Closed
AL
174
Airain Ltd
Guernsey
– -$450K -18,270 Closed
Asset Management One
175
Asset Management One
Japan
– -$438K -17,844 Closed
4 5 6
7
8

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.