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GCM
Gates Capital Management Portfolio holdings
AUM
$4.16B
1-Year Est. Return
21%
This Fund
S&P 500
This Quarter
Est. Return
-20.9%
1 Year Est. Return
+21%
3 Year Est. Return
+34.83%
5 Year Est. Return
+35.77%
10 Year Est. Return
+189.44%
AUM
$1.81B
AUM Growth
-$2.12B
(-54%)
Cap. Flow
-$421M
Cap. Flow
% of AUM
-23.23%
Top 10 Holdings %
Top 10 Hldgs %
53.35%
Holding
38
New
3
Increased
12
Reduced
13
Closed
10
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
AIMC
Altra Industrial Motion Corp
AIMC
|
+$60.3M |
| 2 |
Fortive
FTV
|
+$59.3M |
| 3 |
WBT
Welbilt, Inc.
WBT
|
+$47.1M |
| 4 |
Garrett Motion
GTX
|
+$30.4M |
| 5 |
DaVita
DVA
|
+$23.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
TMX
Terminix Global Holdings, Inc.
TMX
|
+$69.7M |
| 2 |
CZR
Caesars Entertainment Corporation
CZR
|
+$68.8M |
| 3 |
MGM Resorts International
MGM
|
+$66.5M |
| 4 |
Travel + Leisure Co
TNL
|
+$61.1M |
| 5 |
Trane Technologies
TT
|
+$54.7M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 23.71% |
| 2 | Industrials | 23.63% |
| 3 | Materials | 14.43% |
| 4 | Technology | 11.86% |
| 5 | Real Estate | 10.25% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
26
Garrett Motion
GTX
$4.78B
| $27.6M | 1.52% |
+2,239,475
| New | +$30.4M |
|
|
XELA
27
DELISTED
Exela Technologies, Inc. Common Stock
XELA
| $22.9M | 1.26% |
491
+47
| +11% | +$2.95M |
|
|
IO
28
DELISTED
ION Geophysical Corporation
IO
| $6.28M | 0.35% |
1,212,408
-89,196
| -7% | -$906K |
|
29
Chemours
CC
$2.21B
| – | – |
-732,837
| Closed | -$28.9M |
|
30
Darling Ingredients
DAR
$10.5B
| – | – |
-1,419,186
| Closed | -$27.4M |
|
31
Dover
DOV
$25.5B
| – | – |
-285,734
| Closed | -$25.3M |
|
32
Flotek Industries
FTK
$977M
| – | – |
-172,671
| Closed | -$2.49M |
|
33
PUT
iShares Russell 2000 ETF
IWM
$76.9B
| – | – |
-7,500,000
| Closed | -$1.26B |
|
|
34
Travel + Leisure Co
TNL
$4.01B
| – | – |
-1,408,919
| Closed | -$61.1M |
|
|
35
Trane Technologies
TT
$93B
| – | – |
-535,167
| Closed | -$54.7M |
|
|
MGP
36
DELISTED
MGM Growth Properties LLC Class A common shares representing limited liability company interests
MGP
| – | – |
-687,890
| Closed | -$20.3M |
|
|
CZR
37
DELISTED
Caesars Entertainment Corporation
CZR
| – | – |
-6,711,386
| Closed | -$68.8M |
|
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Gates Capital Management's Q4 2018 Portfolio in Review
As of Q4 2018, Gates Capital Management held 38 positions worth $1.81B, down 54% from $3.94B the previous quarter. Its ten largest holdings account for 53% of the portfolio.
Gates Capital Management withdrew a net $421M in Q4 2018, closing 10 positions and reducing 13 holdings. Its most notable exit was Caesars Entertainment Corporation, an estimated $68.8M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 24% of assets, up from 19% a quarter earlier, followed by Industrials and Materials.
Against the trend, Gates Capital Management opened a new position in Fortive worth $53.8M.
- Gates Capital Management's largest Q4 2018 buy was Fortive: 1,261,777 shares worth $53.8M.
- Gates Capital Management added most to Altra Industrial Motion Corp in Q4 2018, an estimated $60.3M increase.
- Gates Capital Management's biggest Q4 2018 reduction was Terminix Global Holdings, Inc., cutting an estimated $69.7M.
- Gates Capital Management fully exited Caesars Entertainment Corporation in Q4 2018, selling an estimated $68.8M.
- Gates Capital Management's ten largest holdings make up 53% of its $1.81B portfolio in Q4 2018.
- Gates Capital Management opened 3 new positions and closed 10 in Q4 2018.
- Gates Capital Management's portfolio value fell 54% quarter-over-quarter to $1.81B.
Based on Gates Capital Management's 13F filing for Q4 2018, filed 14 Feb 2019.