Stock Yards Bank & Trust Co. Reduces Stake in Churchill Downs

The firm sold over 62,000 shares of the racetrack and gaming company in Q4 2025

Apr. 7, 2026 at 11:08am

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A highly detailed, black-and-white close-up image of the gears, pulleys, and other mechanical components of an old-fashioned betting tote board, conveying the intricate financial infrastructure behind a major racetrack and gaming company.An extreme close-up of the inner workings of a historic mechanical betting tote board evokes the complex financial machinery behind a major racetrack and gaming company.Louisville Today

Stock Yards Bank & Trust Co. lowered its stake in Churchill Downs, Incorporated (NASDAQ:CHDN) by 17.4% during the fourth quarter of 2025, according to a recent SEC filing. The firm sold 62,287 shares, leaving it with 296,371 shares worth $33.7 million, or approximately 0.43% of the company's outstanding stock.

Why it matters

This filing provides insight into the investment decisions of a major institutional investor in Churchill Downs, a prominent racetrack and gaming company. The reduction in stake could signal a shift in the bank's outlook on the company's performance or growth prospects.

The details

According to the 13F filing, Stock Yards Bank & Trust Co. sold 62,287 shares of Churchill Downs stock during the fourth quarter of 2025. This reduced the firm's total position to 296,371 shares, worth an estimated $33.7 million. The bank previously owned approximately 0.52% of Churchill Downs' outstanding shares, but the sale brought its ownership down to 0.43%.

  • Stock Yards Bank & Trust Co. filed the 13F report disclosing the stake reduction on April 7, 2026.
  • The share sale occurred during the fourth quarter of 2025.

The players

Stock Yards Bank & Trust Co.

A financial institution that manages investments and assets on behalf of clients.

Churchill Downs, Incorporated

A leading American entertainment and gaming company that operates the Churchill Downs racetrack and other live racing facilities, casinos, and online betting platforms.

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What’s next

Investors will likely monitor Churchill Downs' financial performance and any further changes in major institutional holdings like Stock Yards Bank & Trust Co. in the coming quarters.

The takeaway

This filing highlights the shifting investment strategies of a significant shareholder in Churchill Downs, a prominent player in the horse racing and gaming industry. The reduction in stake could signal broader market trends or concerns about the company's outlook.