CHURCHILL DOWNS INC

Ticker: CHDN CUSIP: 171484108 Class: COM

Cambria Investment Management, L.P.'s Holding History (CIK: 0001529389)

Note: Option positions (PUT/CALL) are excluded.

Q3 2015

Shares 98 Value ($000) $13 Avg Close $21.02 Range $18.69 - $22.64

Q2 2015

Shares 196 Value ($000) $25 Avg Close $19.13 Range $17.68 - $20.38

Q1 2015

Shares 35 Value ($000) $4 Avg Close $16.25 Range $14.30 - $18.21

Q4 2014

Shares 35 Value ($000) $3 Avg Close $15.30 Range $14.35 - $16.50

Period	Shares	Value ($000)	Average Close	Price Range
Q3 2015	98	$13	$21.02	$18.69 - $22.64
Q2 2015	196	$25	$19.13	$17.68 - $20.38
Q1 2015	35	$4	$16.25	$14.30 - $18.21
Q4 2014	35	$3	$15.30	$14.35 - $16.50