Churchill Downs Incorporated
US ˙ NasdaqGS ˙ US1714841087

SecurityCHDN / Churchill Downs Incorporated
InstitutionHudson Way Capital Management LLC
Latest Disclosed Ownership870,362 shares
Latest Disclosed Value $ 78,184,618
Hudson Way Capital Management LLC reports 16.14% decrease in ownership of CHDN / Churchill Downs Incorporated

On May 15, 2026 - Hudson Way Capital Management LLC filed a 13F-HR form disclosing ownership of 870,362 shares of Churchill Downs Incorporated (US:CHDN) valued at $78,184,618 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 17, 2026 disclosing 1,037,822 shares of Churchill Downs Incorporated. This represents a change in shares of -16.14% during the quarter. The current value of the position is $74,851,132 USD.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

Upgrade to unlock premium data and export to Excel .

Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-05-15 2026-03-31 13F CHURCHILL DOWNS COM 171484108 870,362 -167,460 -16.14 78,185 -33.79 7.4747
2026-02-17 2025-12-31 13F CHURCHILL DOWNS COM 171484108 1,037,822 -102,490 -8.99 118,083 6.75 9.3868
2025-11-14 2025-09-30 13F CHURCHILL DOWNS COM 171484108 1,140,312 142,714 14.31 110,622 9.79 9.3815
2025-08-14 2025-06-30 13F CHURCHILL DOWNS COM 171484108 997,598 -80,700 -7.48 100,757 -15.87 9.1071
2025-05-15 2025-03-31 13F CHURCHILL DOWNS COM 171484108 1,078,298 165,417 18.12 119,767 -1.76 11.8712
2025-02-14 2024-12-31 13F CHURCHILL DOWNS COM 171484108 912,881 -11,102 -1.20 121,906 -2.42 13.7744
2024-11-14 2024-09-30 13F CHURCHILL DOWNS COM 171484108 923,983 58,624 6.77 124,932 3.42 15.6818
2024-08-14 2024-06-30 13F CHURCHILL DOWNS COM 171484108 865,359 286,746 49.56 120,804 68.71 16.6778
2024-05-15 2024-03-31 13F CHURCHILL DOWNS COM 171484108 578,613 2,981 0.52 71,603 -7.81 13.0721
2024-02-14 2023-12-31 13F CHURCHILL DOWNS COM 171484108 575,632 32,697 6.02 77,670 23.28 14.5683
2023-11-14 2023-09-30 13F CHURCHILL DOWNS COM 171484108 542,935 71,855 15.25 63,002 -3.90 12.3933
2023-08-14 2023-06-30 13F CHURCHILL DOWNS COM 171484108 471,080 276,293 141.84 65,560 30.94 12.2957
2023-05-15 2023-03-31 13F CHURCHILL DOWNS COM 171484108 194,787 -14,103 -6.75 50,070 13.37 12.4625
2023-02-14 2022-12-31 13F CHURCHILL DOWNS COM 171484108 208,890 10,200 5.13 44,166 20.71 11.4100
2022-11-14 2022-09-30 13F CHURCHILL DOWNS COM 171484108 198,690 25,130 14.48 36,589 10.07 10.0039
2022-08-15 2022-06-30 13F CHURCHILL DOWNS COM 171484108 173,560 64,454 59.07 33,242 37.37 9.0128
2022-05-16 2022-03-31 13F CHURCHILL DOWNS COM 171484108 109,106 127 0.12 24,198 -7.83 5.7088
2022-02-14 2021-12-31 13F CHURCHILL DOWNS COM 171484108 108,979 10,561 10.73 26,253 11.11 5.9705
2021-11-15 2021-09-30 13F CHURCHILL DOWNS COM 171484108 98,418 27,380 38.54 23,628 67.76 5.7534
2021-08-16 2021-06-30 13F CHURCHILL DOWNS COM 171484108 71,038 35,550 100.17 14,084 74.50 3.5574
2021-05-17 2021-03-31 13F CHURCHILL DOWNS COM 171484108 35,488 -38,624 -52.12 8,071 -44.09 2.2513
2021-02-16 2020-12-31 13F CHURCHILL DOWNS COM 171484108 74,112 -39,984 -35.04 14,436 -22.76 4.1171
2020-11-16 2020-09-30 13F CHURCHILL DOWNS COM 171484108 114,096 6,000 5.55 18,691 29.86 6.0528
2020-08-14 2020-06-30 13F CHURCHILL DOWNS COM 171484108 108,096 -222,646 -67.32 14,393 -57.73 5.0306
2020-05-15 2020-03-31 13F CHURCHILL DOWNS COM 171484108 330,742 0 0.00 34,050 -24.96 15.7684
2020-02-14 2019-12-31 13F CHURCHILL DOWNS COM 171484108 330,742 0 0.00 45,378 11.13 17.8125
2019-11-14 2019-09-30 13F CHURCHILL DOWNS COM 171484108 330,742 25,000 8.18 40,832 16.06 18.0758
2019-08-14 2019-06-30 13F CHURCHILL DOWNS COM 171484108 305,742 24,150 8.58 35,182 38.42 17.1092
2019-05-15 2019-03-31 13F CHURCHILL DOWNS COM 171484108 281,592 197,992 236.83 25,416 24.63 13.1770
2019-02-12 2018-12-31 13F CHURCHILL DOWNS COM 171484108 83,600 46,600 125.95 20,393 98.47 11.9149
2018-11-14 2018-09-30 13F CHURCHILL DOWNS COM 171484108 37,000 37,000 10,275 5.2387
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.