CHURCHILL DOWNS INC CHDN
COM · Common Stock · CUSIP 171484108 · ISIN US1714841087
American horse racing and gaming company
- SectorConsumer discretionary
- IndustryServices-Racing, Including Track Operation
- HeadquartersLouisville, KY
- Founded1875
- Websitechurchilldownsincorporated.com
- FilingsSEC EDGAR
Q1 2023 share counts are adjusted for a 2-for-1 stock split, so holders aren't shown as buying or selling because of it.
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($21.7m this quarter). Holder counts are more reliable. Shares outstanding: 74.9m as of 2023-07-19, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $139.28. Options: 5 managers hold calls ($11.4m notional), 4 hold puts ($2.3m).
Trends to Q2 2023
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 331 |
| Q4 2022 | 322 |
| Q1 2023 | 354 |
| Q2 2023 | 395 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q4 2022 | 130 | 162 |
| Q1 2023 | 152 | 157 |
| Q2 2023 | 177 | 182 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2022 | $5.4m | $2.0m | 0.36 |
| Q4 2022 | $6.8m | $3.6m | 0.53 |
| Q1 2023 | $8.9m | $3.8m | 0.42 |
| Q2 2023 | $11.4m | $2.3m | 0.20 |
Biggest buyers
| MILLENNIUM MANAGEMENT LLC | Added | +347.7k |
| Baird Financial Group, Inc. | Added | +275.7k |
| JENNISON ASSOCIATES LLC | Added | +264.2k |
| Capital Research Global Investors | Added | +133.9k |
| PRINCIPAL FINANCIAL GROUP INC | Added | +122.5k |
| Cubist Systematic Strategies, LLC | New | +112.9k |
| NORGES BANK | Added | +103.6k |
| Waratah Capital Advisors Ltd. | Added | +101.7k |
| FIRST TRUST ADVISORS LP | Added | +97.6k |
| NEUBERGER BERMAN GROUP LLC | Added | +94.6k |
Biggest sellers
| FMR LLC | Reduced | -11.3m |
| SCHRODER INVESTMENT MANAGEMENT GROUP | Reduced | -407.1k |
| GW&K Investment Management, LLC | Reduced | -312.6k |
| WELLINGTON MANAGEMENT GROUP LLP | Sold out | -233.4k |
| BROWN ADVISORY INC | Reduced | -231.5k |
| BANK OF AMERICA CORP /DE/ | Reduced | -113.2k |
| LORD, ABBETT & CO. LLC | Reduced | -108.9k |
| AMERICAN CENTURY COMPANIES INC | Reduced | -105.1k |
| ArrowMark Colorado Holdings LLC | Reduced | -103.2k |
| Balyasny Asset Management L.P. | Reduced | -102.2k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $5.4m38.9k shares |
| CITADEL ADVISORS LLC | Added | $4.6m33.0k shares |
| PEAK6 Investments LLC | Added | $1.1m7.7k shares |
| WOLVERINE TRADING, LLC | Added | $312.6k2.3k shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $1.1m8.1k shares |
| CITADEL ADVISORS LLC | Reduced | $584.5k4.2k shares |
| PEAK6 Investments LLC | Reduced | $556.7k4.0k shares |
| WOLVERINE ASSET MANAGEMENT LLC | New | $55.7k400 shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| BlackRock, Inc. 13G · institution filed 2025-04-24 | 9.1% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-07-31 | 5.0% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-26; now reported by VANGUARD CAPITAL MANAGEMENT LLC)
Insider purchases and sales in Q2 2023
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q3 2021 | 0 | — | 0 | — | — |
| Q4 2021 | 0 | — | 0 | — | — |
| Q1 2022 | 0 | — | 0 | — | — |
| Q2 2022 | 1 | $92.8k | 0 | — | — |
| Q3 2022 | 0 | — | 0 | — | — |
| Q4 2022 | 0 | — | 0 | — | — |
| Q1 2023 | 0 | — | 1 | $12.2m | — |
| Q2 2023 | 0 | — | 0 | — | — |
None reported in Q2 2023.
Holders, Q2 2023
| Manager | Shares | Change |
|---|---|---|
| FMR LLC 0.08% of their portfolio | 6.7m $937.1m | Reduced -11.3m |
| VANGUARD GROUP INC 0.02% of their portfolio | 6.6m $923.1m | Reduced -21.0k |
| Capital Research Global Investors 0.22% of their portfolio | 6.0m $832.9m | Added +133.9k |
| BlackRock Inc. 0.02% of their portfolio | 6.0m $831.7m | Reduced -21.0k |
| SCHRODER INVESTMENT MANAGEMENT GROUP 0.41% of their portfolio | 2.1m $287.4m | Reduced -407.1k |
| STATE STREET CORP 0.01% of their portfolio | 1.8m $255.8m | Reduced -5.0k |
| LONDON CO OF VIRGINIA 1.41% of their portfolio | 1.8m $248.8m | Reduced -76.8k |
| ArrowMark Colorado Holdings LLC 1.66% of their portfolio | 1.1m $151.1m | Reduced -103.2k |
| GEODE CAPITAL MANAGEMENT, LLC 0.02% of their portfolio | 1.1m $146.3m | Added +53.7k |
| AMERIPRISE FINANCIAL INC 0.04% of their portfolio | 1.0m $139.6m | Reduced -86.8k |
| LORD, ABBETT & CO. LLC 0.19% of their portfolio | 813.4k $113.2m | Reduced -108.9k |
| NORGES BANK 0.02% of their portfolio | 743.3k $103.4m | Added +103.6k |
| BROWN ADVISORY INC 0.16% of their portfolio | 743.1k $103.4m | Reduced -231.5k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.01% of their portfolio | 726.5k $101.1m | Added +21.3k |
| JENNISON ASSOCIATES LLC 0.08% of their portfolio | 722.6k $100.6m | Added +264.2k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.03% of their portfolio | 662.9k $92.2m | Reduced -9.4k |
| Bank of New York Mellon Corp 0.02% of their portfolio | 636.1k $88.5m | Reduced -2.7k |
| Nitorum Capital, L.P. 8.36% of their portfolio | 594.4k $82.7m | Reduced -49.9k |
| LOOMIS SAYLES & CO L P 0.12% of their portfolio | 535.0k $74.5m | Reduced -5.2k |
| NORTHERN TRUST CORP 0.01% of their portfolio | 488.6k $68.0m | Reduced -11.8k |
| MILLENNIUM MANAGEMENT LLC 0.07% of their portfolio | 484.3k $67.4m | Added +347.7k |
| JANUS HENDERSON GROUP PLC 0.04% of their portfolio | 483.7k $67.3m | Reduced -20.2k |
| Hudson Way Capital Management LLC 12.30% of their portfolio | 471.1k $65.6m | Added +81.5k |
| Artemis Investment Management LLP 0.82% of their portfolio | 465.4k $64.7m | Added +30.1k |
| PRINCIPAL FINANCIAL GROUP INC 0.04% of their portfolio | 384.1k $53.5m | Added +122.5k |
| DIMENSIONAL FUND ADVISORS LP 0.02% of their portfolio | 376.3k $52.4m | Added +13.3k |
| Baird Financial Group, Inc. 0.13% of their portfolio | 345.3k $48.1m | Added +275.7k |
| EMERALD ADVISERS, LLC 2.04% of their portfolio | 335.5k $46.7m | Reduced -14.0k |
| MORGAN STANLEY 0.00% of their portfolio | 334.8k $46.6m | Reduced -65.8k |
| D. E. Shaw & Co., Inc. 0.07% of their portfolio | 328.8k $45.8m | Added +22.6k |
| EULAV Asset Management 1.52% of their portfolio | 293.8k $40.9m | Added +47.1k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 292.4k $40.7m | Reduced -113.2k |
| WESTFIELD CAPITAL MANAGEMENT CO LP 0.25% of their portfolio | 283.7k $39.5m | Reduced -41.0k |
| VOYA INVESTMENT MANAGEMENT LLC 0.04% of their portfolio | 280.3k $39.0m | Added +71.3k |
| GAMCO INVESTORS, INC. ET AL 0.41% of their portfolio | 279.9k $39.0m | Reduced -36.0k |
| STOCK YARDS BANK & TRUST CO 1.38% of their portfolio | 270.9k $37.7m | Reduced -69.4k |
| Copeland Capital Management, LLC 0.76% of their portfolio | 264.8k $36.9m | Reduced -30.0k |
| EMERALD MUTUAL FUND ADVISERS TRUST 1.98% of their portfolio | 262.6k $36.6m | Reduced -10.4k |
| GOLDMAN SACHS GROUP INC 0.01% of their portfolio | 252.1k $35.1m | Added +17.0k |
| Balyasny Asset Management L.P. 0.09% of their portfolio | 238.0k $33.1m | Reduced -102.2k |
| Invesco Ltd. 0.01% of their portfolio | 233.2k $32.5m | Added +74.3k |
| Glenview Trust Co 0.86% of their portfolio | 225.3k $31.4m | Reduced -16.1k |
| RHUMBLINE ADVISERS 0.03% of their portfolio | 214.6k $29.9m | Added +5.4k |
| Nuveen Asset Management, LLC 0.01% of their portfolio | 199.7k $27.8m | Reduced -5.4k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 189.6k $26.4m | Reduced -25.0k |
| FIRST TRUST ADVISORS LP 0.03% of their portfolio | 173.1k $24.1m | Added +97.6k |
| SYSTEMATIC FINANCIAL MANAGEMENT LP 0.72% of their portfolio | 164.0k $22.8m | Added +2.9k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.03% of their portfolio | 160.9k $22.4m | Added +41.5k |
| SEGALL BRYANT & HAMILL, LLC 0.23% of their portfolio | 154.9k $21.6m | Added +928 |
| PUTNAM INVESTMENTS LLC 0.03% of their portfolio | 154.3k $21.5m | Added +1.5k |
| AMERICAN CENTURY COMPANIES INC 0.02% of their portfolio | 150.3k $20.9m | Reduced -105.1k |
| GABELLI FUNDS LLC 0.16% of their portfolio | 148.0k $20.6m | Reduced -26.4k |
| California Public Employees Retirement System 0.02% of their portfolio | 146.7k $20.4m | Reduced -9.6k |
| Swiss National Bank 0.01% of their portfolio | 146.7k $20.4m | Added +1.5k |
| NEUBERGER BERMAN GROUP LLC 0.02% of their portfolio | 137.3k $19.1m | Added +94.6k |
| Retirement Systems of Alabama 0.08% of their portfolio | 130.7k $18.2m | Reduced -1.1k |
| PNC Financial Services Group, Inc. 0.01% of their portfolio | 119.1k $16.6m | Reduced -21.5k |
| Waratah Capital Advisors Ltd. 0.83% of their portfolio | 118.5k $16.5m | Added +101.7k |
| ALLIANCEBERNSTEIN L.P. 0.01% of their portfolio | 113.9k $15.8m | Reduced -12.8k |
| Cubist Systematic Strategies, LLC 0.17% of their portfolio | 112.9k $15.7m | New |
| ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio | 109.7k $15.3m | Added +16.4k |
| Legal & General Group Plc 0.00% of their portfolio | 106.0k $14.8m | Reduced -3.5k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 103.1k $14.3m | Added +14.4k |
| AMERICAN INTERNATIONAL GROUP, INC. 0.09% of their portfolio | 100.1k $13.9m | Reduced -1.9k |
| CAPTRUST FINANCIAL ADVISORS 0.05% of their portfolio | 91.5k $12.7m | Reduced -6.9k |
| IFP Advisors, Inc 0.43% of their portfolio | 90.9k $19.8m | Added +45.4k |
| Driehaus Capital Management LLC 0.16% of their portfolio | 90.6k $12.6m | New |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.01% of their portfolio | 88.0k $22.6m | Reduced -88.0k |
| CORSAIR CAPITAL MANAGEMENT, L.P. 4.15% of their portfolio | 87.7k $12.2m | Reduced -1.9k |
| WINTON GROUP Ltd 1.01% of their portfolio | 86.4k $12.0m | New |
| Smithfield Trust Co 0.72% of their portfolio | 85.8k $11.9m | Reduced -348 |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.02% of their portfolio | 83.2k $11.6m | Reduced -2.7k |
| CREDIT SUISSE AG/ 0.01% of their portfolio | 77.1k $10.7m | Added +13.0k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.01% of their portfolio | 76.0k $10.6m | Reduced -9.7k |
| Point72 Asset Management, L.P. 0.03% of their portfolio | 72.6k $10.1m | Added +64.0k |
| PARTHENON LLC 1.44% of their portfolio | 71.7k $10.0m | Reduced -8.2k |
| UBS Group AG 0.00% of their portfolio | 69.4k $9.7m | Added +14.4k |
| COMMUNITY TRUST & INVESTMENT CO 0.77% of their portfolio | 69.1k $9.6m | Reduced -49.3k |
| RK Capital Management, LLC 2.06% of their portfolio | 69.0k $9.6m | Reduced -31.8k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 66.7k $9.3m | Added +1.3k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.02% of their portfolio | 66.5k $9.3m | Added +3.6k |
| Shellback Capital, LP 0.82% of their portfolio | 66.3k $9.2m | Unchanged |
| GW&K Investment Management, LLC 0.08% of their portfolio | 63.6k $8.9m | Reduced -312.6k |
| Russell Investments Group, Ltd. 0.02% of their portfolio | 63.4k $8.8m | Added +2.0k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.02% of their portfolio | 62.1k $8.6m | Reduced -100 |
| VICTORY CAPITAL MANAGEMENT INC 0.01% of their portfolio | 60.3k $8.4m | Reduced -18.9k |
| TEXAS PERMANENT SCHOOL FUND CORP 0.07% of their portfolio | 57.8k $8.0m | Reduced -858 |
| STATE OF WISCONSIN INVESTMENT BOARD 0.02% of their portfolio | 56.6k $7.9m | Reduced -2.2k |
| Quadrature Capital Ltd 0.17% of their portfolio | 56.5k $7.9m | New |
| Man Group plc 0.02% of their portfolio | 54.2k $7.5m | New |
| Assenagon Asset Management S.A. 0.03% of their portfolio | 52.6k $7.3m | New |
| Spire Wealth Management 0.03% of their portfolio | 52.4k $741.2k | Added +1.4k |
| BRASADA CAPITAL MANAGEMENT, LP 1.59% of their portfolio | 51.8k $7.2m | Reduced -1.4k |
| Cerity Partners LLC 0.03% of their portfolio | 51.1k $7.1m | Added +46.8k |
| State of Alaska, Department of Revenue 0.08% of their portfolio | 50.0k $7.0m | Reduced -906 |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio | 49.5k $6.9m | Reduced -1.8k |
| AMALGAMATED BANK 0.05% of their portfolio | 48.5k $6.8m | Reduced -1.2k |
| MUTUAL OF AMERICA CAPITAL MANAGEMENT LLC 0.07% of their portfolio | 47.2k $6.6m | Reduced -4.9k |
| Qube Research & Technologies Ltd 0.02% of their portfolio | 45.2k $6.3m | New |
| Foundations Investment Advisors, LLC 0.20% of their portfolio | 44.2k $6.2m | Unchanged |