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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
WCM
151
Wedge Capital Management
North Carolina
$297K -$20.7K -648 -7%
RJA
152
Raymond James & Associates
Florida
$273K +$14.6K +456 +6%
SG Americas Securities
153
SG Americas Securities
New York
$253K -$577K -18,036 -71%
Teacher Retirement System of Texas
154
Teacher Retirement System of Texas
Texas
$239K +$6.15K +192 +3%
AP
155
Advisor Partners
California
$235K – – –
LIA
156
LS Investment Advisors
Michigan
$229K +$42.1K +1,314 +25%
RIM
157
Regent Investment Management
Kentucky
$222K +$207K +6,450 New
GCP
158
GSA Capital Partners
United Kingdom
$220K +$205K +6,408 New
WCA
159
Westover Capital Advisors
Delaware
$218K +$203K +6,330 New
GVT
160
Genesee Valley Trust
New York
$216K +$201K +6,288 New
CB
161
Commerce Bank
Missouri
$211K +$196K +6,132 New
NBC
162
Neuberger Berman Canada
Ontario, Canada
$210K +$196K +6,114 New
SO
163
STRS Ohio
Ohio
$206K – – –
CCIA
164
Campbell & Co Investment Adviser
Maryland
$206K +$192K +5,988 New
ACP
165
Aviance Capital Partners
Florida
$206K +$192K +6,000 New
CTI
166
Community Trust & Investment
Kentucky
$206K +$192K +6,000 New
LTFS
167
Ladenburg Thalmann Financial Services
Florida
$186K -$576 -18 -0.3%
OSAM
168
O'Shaughnessy Asset Management
Connecticut
$177K +$165K +5,154 New
ST
169
Smithfield Trust
Pennsylvania
$175K +$163K +5,100 New
KBC Group
170
KBC Group
Belgium
$174K – – –
Bank of Montreal
171
Bank of Montreal
Ontario, Canada
$119K +$24.4K +762 +28%
Ohio Public Employees Retirement System (OPERS)
172
Ohio Public Employees Retirement System (OPERS)
Ohio
$106K +$1.73K +54 +2%
NSIM
173
North Star Investment Management
Illinois
$103K – – –
Zurich Cantonal Bank
174
Zurich Cantonal Bank
Switzerland
$89K – – –
Citigroup
175
Citigroup
New York
$88K -$55.7K -1,740 -40%
5 6
7
8 9

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.