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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
BlackRock
1
BlackRock
New York
$277M +$6.75M +210,846 +3%
Vanguard Group
2
Vanguard Group
Pennsylvania
$216M +$6.42M +200,676 +3%
TBC
3
Three Bays Capital
Massachusetts
$206M -$55.2M -1,725,258 -22%
PCM
4
PAR Capital Management
Massachusetts
$168M – – –
Fidelity Investments
5
Fidelity Investments
Massachusetts
$162M +$8.36M +261,120 +6%
SAM
6
Scopus Asset Management
New York
$96.2M +$19.6M +611,316 +28%
State Street
7
State Street
Massachusetts
$95.1M +$6.42M +200,388 +8%
Victory Capital Management
8
Victory Capital Management
Texas
$73.3M +$9.09M +283,878 +15%
GI
9
GAMCO Investors
Connecticut
$50.8M -$9.1M -284,190 -16%
T. Rowe Price Associates
10
T. Rowe Price Associates
Maryland
$46M +$4.26M +133,200 +11%
Northern Trust
11
Northern Trust
Illinois
$45M -$377K -11,790 -0.9%
SFM
12
Soros Fund Management
New York
$44M -$33.5M -1,045,110 -45%
Wellington Management Group
13
Wellington Management Group
Massachusetts
$38.4M -$4.07M -127,188 -10%
Bank of New York Mellon
14
Bank of New York Mellon
New York
$36.5M +$919K +28,716 +3%
Norges Bank
15
Norges Bank
Norway
$34M +$1.71M +53,412 +6%
CF
16
Cypress Funds
California
$33.4M +$7.78M +243,000 +33%
Dimensional Fund Advisors
17
Dimensional Fund Advisors
Texas
$31.4M -$1.41M -44,190 -5%
GF
18
Gabelli Funds
New York
$29.5M -$8.47M -264,474 -24%
Geode Capital Management
19
Geode Capital Management
Massachusetts
$24.1M +$669K +20,904 +3%
Acadian Asset Management
20
Acadian Asset Management
Massachusetts
$23.3M +$16M +499,704 +282%
TA
21
Teachers Advisors
New York
$22.8M -$85.3K -2,664 -0.4%
Loomis, Sayles & Company
22
Loomis, Sayles & Company
Massachusetts
$22.3M -$3.38M -105,666 -14%
Invesco
23
Invesco
Georgia
$22M +$3.19M +99,588 +18%
ECP
24
Elk Creek Partners
Colorado
$21.6M +$173K +5,412 +0.9%
AIM
25
Artemis Investment Management
United Kingdom
$20.1M +$4.76M +148,710 +34%
1
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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.