Beck Bode Initiates Churchill Downs Position as Regional Gaming Expansion Lifts Growth Prospects

According to a SEC filing dated February 6, 2026, Beck Bode, LLC established a caller presumption successful Churchill Downs (NASDAQ:CHDN) by acquiring 154,871 shares. The estimated worth of the transaction is $17.62 million. The stake’s quarter-end value, besides $17.62 million, reflects some the acquisition and immoderate terms question during the period.

This was a caller presumption for Beck Bode, LLC, representing 2.93% of its $601.19 cardinal successful reportable U.S. equity assets arsenic of December 31, 2025.

Top holdings aft the filing:

• NASDAQ: NVDA: $31.75 cardinal (5.3% of AUM)

• NYSE: CAH: $23.66 cardinal (3.9% of AUM)

• NASDAQ: CEG: $22.73 cardinal (3.8% of AUM)

• NYSE: ANET: $21.50 cardinal (3.6% of AUM)

• NASDAQ: ROKU: $21.26 cardinal (3.5% of AUM)

As of February 6, 2026, shares of Churchill Downs were priced astatine $93.55, down 23.8% implicit the past year, underperforming the S&P 500 by 37.76 percent points.

Churchill Downs is simply a diversified gambling and amusement institution with a nationalist footprint successful unrecorded racing, online wagering, and casino operations crossed aggregate U.S. states.. The institution leverages iconic racing assets, proprietary technology, and a wide gaming portfolio to thrust maturation and support a starring presumption successful the U.S. gaming industry.

Its integrated attack crossed carnal venues and integer platforms enables Churchill Downs to seizure aggregate gross streams and accommodate to evolving user preferences successful the gaming sector.

Churchill Downs serves gaming and racing enthusiasts, online bettors, and casino patrons seeking amusement and wagering experiences.

Churchill Downs is champion known for hosting the Kentucky Derby, but its existent net powerfulness comes from determination casinos and humanities equine racing terminals that make recurring gaming revenue. The institution has spent aggressively to grow that footprint, betting that caller properties and HHR facilities volition thrust higher semipermanent currency flow. Following a astir 20% diminution successful the banal implicit the past year, Beck Bode initiated a caller presumption successful the 4th quarter, acquiring astir 155,000 shares valued astatine $17.6 million.

Churchill Downs generates astir of its gross from gaming operations, including casinos, humanities racing venues, and online wagering done TwinSpires. Gaming gross is driven by ft traffic, instrumentality volumes, and spending per visit, portion margins beryllium connected spot premix and operating efficiency. The institution has been investing heavy to grow its determination footprint and adhd high-return gaming capacity, a strategy that tin unit near-term net but is intended to thrust stronger currency travel implicit time.