Gotham Asset Management Boosts Stake in Churchill Downs

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Gotham Asset Management LLC, a prominent investment management firm, significantly increased its stake in Churchill Downs, Incorporated (NASDAQ:CHDN) during the third quarter of 2026. According to a recent 13F filing with the SEC, Gotham boosted its position in the racetrack operator by 127.9%, acquiring an additional 230,292 shares to bring its total ownership to 410,406 shares, or approximately 0.59% of the company.

Why it matters

Churchill Downs is the owner and operator of the iconic Kentucky Derby, as well as several other racetracks and gaming facilities across the United States. Gotham's increased investment in the company suggests the firm sees long-term growth potential, likely driven by the company's diversified portfolio of live racing, casino, and online betting operations.

The details

Gotham Asset Management's increased stake in Churchill Downs was part of a broader investment strategy, with the firm also adding to positions in several other publicly traded companies during the quarter. The additional 230,292 shares acquired by Gotham brought its total position in Churchill Downs to 410,406 shares, worth approximately $39.8 million as of the most recent 13F filing.

• Gotham Asset Management increased its stake in Churchill Downs during the third quarter of 2026.