Churchill Downs Inc (CHDN) Stock: PAR Capital Management Lowers Stake Below 5%

Page 2 of 7 – SEC Filing

---

CUSIP No. 171484108

1		NAMES OF REPORTING PERSONS PAR Investment Partners, L.P.
2		CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a)  x        (b)  ¨
3		SEC USE ONLY
4		CITIZENSHIP OR PLACE OF ORGANIZATION State of Delaware
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:				5		SOLE VOTING POWER 813,165
				6		SHARED VOTING POWER None
				7		SOLE DISPOSITIVE POWER 813,165
				8		SHARED DISPOSITIVE POWER None
9		AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 813,165
10		CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)  ¨
11		PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 4.9% Common stock, par value $.01
12		TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) PN