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GCM

Gates Capital Management Portfolio holdings

AUM $3.66B
1-Year Est. Return 12.63%
This Fund
S&P 500
This Quarter Est. Return
+27.77%
1 Year Est. Return
+12.63%
3 Year Est. Return
+27.66%
5 Year Est. Return
+34.34%
10 Year Est. Return
+183.55%
AUM
$2B
AUM Growth
+$482M
Cap. Flow
+$121M
Cap. Flow %
6.06%
Top 10 Hldgs %
57.26%
Holding
33
New
5
Increased
10
Reduced
9
Closed
7

Top Buys

Rank Stock Value
1
OTIS icon
Otis Worldwide
OTIS
+$124M
2
CARR icon
Carrier Global
CARR
+$83.2M
3
CHX
ChampionX
CHX
+$60.5M
4
AWI icon
Armstrong World Industries
AWI
+$45.8M
5
VICI icon
VICI Properties
VICI
+$34.7M

Top Sells

Rank Stock Value
1
RTX icon
RTX Corp
RTX
+$113M
2
NVST icon
Envista
NVST
+$59.9M
3
AXTA icon
Axalta
AXTA
+$42M
4
ALC icon
Alcon
ALC
+$32.9M
5
MGM icon
MGM Resorts International
MGM
+$31M

Sector Composition

Rank Sector Weight
1 Industrials 34.68%
2 Consumer Discretionary 21.88%
3 Real Estate 12.52%
4 Materials 7.86%
5 Healthcare 5.44%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
VICI icon
1
VICI Properties
VICI
$29B
$147M 7.34%
7,266,020
+1,893,519
+35% +$34.7M
OTIS icon
2
Otis Worldwide
OTIS
$27.3B
$136M 6.8%
+2,390,769
New +$124M
WAB icon
3
Wabtec
WAB
$49.4B
$118M 5.89%
2,044,214
+321,532
+19% +$18.2M
TMX
4
DELISTED
Terminix Global Holdings, Inc.
TMX
$114M 5.71%
3,199,356
-85,230
-3% -$2.63M
OPLN
5
Openlane
OPLN
$4.29B
$114M 5.69%
8,268,678
+819,092
+11% +$11.2M
GRA
6
DELISTED
W.R. Grace & Co.
GRA
$107M 5.35%
2,104,067
+470,984
+29% +$22.3M
ESI icon
7
Element Solutions
ESI
$8.68B
$106M 5.29%
9,754,682
-1,139,015
-10% -$11.4M
GLPI icon
8
Gaming and Leisure Properties
GLPI
$12.7B
$104M 5.19%
2,998,122
+61,191
+2% +$1.91M
SPGI icon
9
S&P Global
SPGI
$122B
$101M 5.04%
305,611
– –
CARR icon
10
Carrier Global
CARR
$50.6B
$99.5M 4.98%
+4,477,406
New +$83.2M
DVA icon
11
DaVita
DVA
$15.3B
$98.2M 4.91%
1,241,006
-48,700
-4% -$3.8M
AWI icon
12
Armstrong World Industries
AWI
$7.37B
$95.5M 4.78%
1,225,270
+604,351
+97% +$45.8M
WH icon
13
Wyndham Hotels & Resorts
WH
$5.65B
$79.7M 3.99%
1,870,824
+99,941
+6% +$4.08M
IAA
14
DELISTED
IAA, Inc. Common Stock
IAA
$74.1M 3.71%
1,921,880
+584,177
+44% +$21.8M
AIMC
15
DELISTED
Altra Industrial Motion Corp
AIMC
$65.6M 3.28%
2,057,964
-631,220
-23% -$16.7M
CHX
16
DELISTED
ChampionX
CHX
$64.4M 3.22%
+6,602,696
New +$60.5M
HLT icon
17
Hilton Worldwide
HLT
$72.5B
$63M 3.15%
857,723
-76,906
-8% -$5.71M
VSTO
18
DELISTED
Vista Outdoor Inc.
VSTO
$60.8M 3.04%
4,206,084
-1,433,330
-25% -$14.4M
STZ icon
19
Constellation Brands
STZ
$22.3B
$59.8M 2.99%
341,776
-112,698
-25% -$18.8M
MERC icon
20
Mercer International
MERC
$39.5M
$51.3M 2.57%
6,292,653
+1,317,352
+26% +$11M
MLI icon
21
Mueller Industries
MLI
$14.8B
$44.9M 2.24%
6,752,964
+2,426,600
+56% +$15.3M
HLT icon
22
PUT
Hilton Worldwide
HLT
$72.5B
$29.4M 1.47%
+400,000
New +$29.7M
WBT
23
DELISTED
Welbilt, Inc.
WBT
$25M 1.25%
4,103,383
-1,340,987
-25% -$7.25M
NES
24
DELISTED
Nuverra Environmental Solutions, Inc. Common Stock
NES
$16.4M 0.82%
7,056,917
– –
DVA icon
25
PUT
DaVita
DVA
$15.3B
$15.8M 0.79%
+200,000
New +$15.6M
1
2

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Gates Capital Management's Q2 2020 Portfolio in Review

As of Q2 2020, Gates Capital Management held 33 positions worth $2B, up 32% from $1.52B the previous quarter. Its ten largest holdings account for 57% of the portfolio.

Gates Capital Management deployed $121M of net new capital in Q2 2020, opening 5 new positions and adding to 10 existing holdings. Its largest new stake was Otis Worldwide: 2,390,769 shares worth $136M.

By sector, the portfolio is most concentrated in Industrials at 35% of assets, up from 29% a quarter earlier, followed by Consumer Discretionary and Real Estate.

On the sell side, the largest reduction was Envista, an estimated $59.9M trimmed.

  • Gates Capital Management's largest Q2 2020 buy was Otis Worldwide: 2,390,769 shares worth $136M.
  • Gates Capital Management added most to Armstrong World Industries in Q2 2020, an estimated $45.8M increase.
  • Gates Capital Management's biggest Q2 2020 reduction was Envista, cutting an estimated $59.9M.
  • Gates Capital Management fully exited RTX Corp in Q2 2020, selling an estimated $113M.
  • Gates Capital Management's ten largest holdings make up 57% of its $2B portfolio in Q2 2020.
  • Gates Capital Management opened 5 new positions and closed 7 in Q2 2020.
  • Gates Capital Management's portfolio value rose 32% quarter-over-quarter to $2B.

Based on Gates Capital Management's 13F filing for Q2 2020, filed 14 Aug 2020.