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Churchill Downs

116 hedge funds and large institutions have $1.25B invested in Churchill Downs in 2015 Q1 according to their latest regulatory filings, with 17 funds opening new positions, 41 increasing their positions, 38 reducing their positions, and 11 closing their positions.

New
Increased
Maintained
Reduced
Closed

55% more first-time investments, than exits

New positions opened: 17 | Existing positions closed: 11

25% more funds holding in top 10

Funds holding in top 10: 45 (+1)

22% more capital invested

Capital invested by funds: $1.03B → $1.25B (+$222M)

5% more funds holding

Funds holding: 111116 (+5)

8% more repeat investments, than reductions

Existing positions increased: 41 | Existing positions reduced: 38

8% less call options, than puts

Call options by funds: $1.52M | Put options by funds: $1.66M

Holders
116
Holders Change
+5
Holders Change %
+4.5%
% of All Funds
3.09%
Holding in Top 10
5
Holding in Top 10 Change
+1
Holding in Top 10 Change %
+25%
% of All Funds
0.13%
New
17
Increased
41
Reduced
38
Closed
11
Calls
$1.52M
Puts
$1.66M
Net Calls
-$137K
Net Calls Change
-$157K
Name Holding Trade Value Shares
Change
Change in
Stake
PCM
1
PAR Capital Management
Massachusetts
$148M
TBC
2
Three Bays Capital
Massachusetts
$124M +$18.8M +1,098,420 +20%
Balyasny Asset Management
3
Balyasny Asset Management
Illinois
$104M -$1.34M -78,210 -1%
Vanguard Group
4
Vanguard Group
Pennsylvania
$98.1M +$4.49M +261,798 +5%
GI
5
GAMCO Investors
Connecticut
$84.2M -$4.86M -283,140 -6%
Wellington Management Group
6
Wellington Management Group
Massachusetts
$70.4M -$11.1M -646,482 -15%
Dimensional Fund Advisors
7
Dimensional Fund Advisors
Texas
$59.5M -$6.53M -380,484 -11%
SFM
8
Soros Fund Management
New York
$47.8M -$11.7M -683,478 -22%
BFA
9
BlackRock Fund Advisors
California
$39.5M +$211K +12,288 +0.6%
BIT
10
BlackRock Institutional Trust
California
$36.5M +$181K +10,554 +0.6%
GF
11
Gabelli Funds
New York
$30.7M -$875K -51,000 -3%
CCM
12
Clovis Capital Management
New York
$28.7M +$11.6M +678,000 +82%
State Street
13
State Street
Massachusetts
$28M +$712K +41,496 +3%
CRM
14
Cramer Rosenthal McGlynn
Connecticut
$25.7M +$23M +1,340,280 New
Loomis, Sayles & Company
15
Loomis, Sayles & Company
Massachusetts
$25M -$277K -16,122 -1%
FTCM
16
Fir Tree Capital Management
New York
$19.9M
GIM
17
Granahan Investment Management
Massachusetts
$18.4M -$11.5M -669,660 -41%
Northern Trust
18
Northern Trust
Illinois
$18.3M +$1.02M +59,298 +7%
RCMC
19
RK Capital Management (Colorado)
Colorado
$17.6M +$4.1M +239,238 +35%
Citadel Advisors
20
Citadel Advisors
Florida
$16.4M -$2.09M -122,016 -12%
SFM
21
Systematic Financial Management
New Jersey
$14M -$303K -17,682 -2%
ECP
22
Elk Creek Partners
Colorado
$13.2M +$3.41M +198,648 +41%
Bank of New York Mellon
23
Bank of New York Mellon
New York
$10.1M +$148K +8,604 +2%
Norges Bank
24
Norges Bank
Norway
$10M -$670K -39,078 -7%
CCM
25
Copeland Capital Management
Pennsylvania
$9.6M +$1.99M +115,944 +30%

CHDN Hedge Fund Activity: Q1 2015 in Review

116 of the 3,752 institutional investors tracked by Wall St. Rank reported a position in Churchill Downs (CHDN) for Q1 2015, worth a combined $1.25B — up 22% from $1.03B a quarter earlier.

Buyers outnumbered sellers: 17 funds opened new CHDN positions and 11 closed out — a net gain of 6 holders — while 41 added to existing stakes and 38 trimmed.

The largest buyer was Cramer Rosenthal McGlynn, opening a new position worth an estimated $23M. The largest seller was Soros Fund Management, cutting an estimated $11.7M.

  • 116 institutional investors held Churchill Downs (CHDN) as of Q1 2015, up from 111 in Q4 2014.
  • Funds reported $1.25B of Churchill Downs stock for Q1 2015, up 22% quarter-over-quarter.
  • 17 funds opened new Churchill Downs positions in Q1 2015 and 11 closed out, a net change of +6 holders.
  • The largest Churchill Downs buyer in Q1 2015 was Cramer Rosenthal McGlynn, an estimated $23M added.
  • The largest Churchill Downs seller in Q1 2015 was Soros Fund Management, an estimated $11.7M sold.

Based on aggregated 13F filings for Q1 2015.