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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
+9.48%
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
$2.75B
AUM Growth
-$575M
Cap. Flow
-$785M
Cap. Flow %
-28.57%
Top 10 Hldgs %
60.42%
Holding
28
New
2
Increased
12
Reduced
9
Closed
5

Top Buys

Rank Stock Value
1
IFF icon
International Flavors & Fragrances
IFF
+$78M
2
VNT icon
Vontier
VNT
+$72.3M
3
BERY
Berry Global Group, Inc.
BERY
+$52.2M
4
GLPI icon
Gaming and Leisure Properties
GLPI
+$43.1M
5
SPGI icon
S&P Global
SPGI
+$42.8M

Top Sells

Rank Stock Value
1
HLT icon
Hilton Worldwide
HLT
+$84.8M
2
FTDR icon
Frontdoor
FTDR
+$70.4M
3
CHX
ChampionX
CHX
+$58M
4
ENTG icon
Entegris
ENTG
+$41.5M
5
AWI icon
Armstrong World Industries
AWI
+$34.9M

Sector Composition

Rank Sector Weight
1 Industrials 36.16%
2 Materials 13.6%
3 Consumer Discretionary 11.69%
4 Real Estate 10.4%
5 Financials 6.8%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
OTIS icon
1
Otis Worldwide
OTIS
$27.9B
$203M 7.4%
2,969,999
+273,909
+10% +$17.9M
SPGI icon
2
S&P Global
SPGI
$124B
$187M 6.8%
529,175
+128,569
+32% +$42.8M
VSTO
3
DELISTED
Vista Outdoor Inc.
VSTO
$182M 6.64%
5,686,684
+114,730
+2% +$3.56M
GLPI icon
4
Gaming and Leisure Properties
GLPI
$13B
$166M 6.03%
3,901,931
+1,018,206
+35% +$43.1M
ESI icon
5
Element Solutions
ESI
$8.48B
$165M 6.02%
9,043,922
+668,541
+8% +$12.3M
CARR icon
6
Carrier Global
CARR
$49.8B
$159M 5.79%
3,764,851
-245,574
-6% -$9.55M
VNT icon
7
Vontier
VNT
$4.54B
$154M 5.59%
5,077,661
+2,215,053
+77% +$72.3M
DVA icon
8
DaVita
DVA
$15.5B
$151M 5.5%
1,402,841
+292,443
+26% +$32.5M
TMX
9
DELISTED
Terminix Global Holdings, Inc.
TMX
$148M 5.39%
3,106,565
+429,539
+16% +$21.2M
STZ icon
10
Constellation Brands
STZ
$22.5B
$144M 5.26%
633,640
-74,338
-11% -$16.8M
IAA
11
DELISTED
IAA, Inc. Common Stock
IAA
$127M 4.63%
2,307,258
+583,958
+34% +$34.7M
CHX
12
DELISTED
ChampionX
CHX
$122M 4.43%
5,606,459
-2,985,260
-35% -$58M
VICI icon
13
VICI Properties
VICI
$29.9B
$120M 4.37%
4,252,196
+182,164
+4% +$4.94M
AWI icon
14
Armstrong World Industries
AWI
$7.37B
$115M 4.18%
1,275,644
-411,132
-24% -$34.9M
WH icon
15
Wyndham Hotels & Resorts
WH
$5.61B
$107M 3.89%
1,531,355
+569,337
+59% +$36.4M
WAB icon
16
Wabtec
WAB
$49.3B
$104M 3.77%
1,307,932
-179,371
-12% -$13.9M
CZR icon
17
Caesars Entertainment
CZR
$6.06B
$87.2M 3.17%
997,151
+154,038
+18% +$12.9M
IFF icon
18
International Flavors & Fragrances
IFF
$20.3B
$84.2M 3.07%
+603,381
New +$78M
MERC icon
19
Mercer International
MERC
$40.5M
$67.4M 2.45%
4,682,885
-1,646,227
-26% -$21.9M
BERY
20
DELISTED
Berry Global Group, Inc.
BERY
$56.7M 2.06%
+1,005,269
New +$52.2M
WBT
21
DELISTED
Welbilt, Inc.
WBT
$52.6M 1.92%
3,239,109
-1,681,780
-34% -$25.3M
MLI icon
22
Mueller Industries
MLI
$14.5B
$29.7M 1.08%
2,869,480
-3,288,824
-53% -$32.3M
NES
23
DELISTED
Nuverra Environmental Solutions, Inc. Common Stock
NES
$15.2M 0.55%
6,626,660
-94,446
-1% -$246K
ENTG icon
24
Entegris
ENTG
$16.3B
– –
-431,876
Closed -$41.5M
FTDR icon
25
Frontdoor
FTDR
$5.27B
– –
-1,402,370
Closed -$70.4M
1
2

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Gates Capital Management's Q1 2021 Portfolio in Review

As of Q1 2021, Gates Capital Management held 28 positions worth $2.75B, down 17% from $3.32B the previous quarter. Its ten largest holdings account for 60% of the portfolio.

Gates Capital Management withdrew a net $785M in Q1 2021, closing 5 positions and reducing 9 holdings. Its most notable exit was Hilton Worldwide, an estimated $84.8M position sold in full.

By sector, the portfolio is most concentrated in Industrials at 36% of assets, up from 29% a quarter earlier, followed by Materials and Consumer Discretionary.

Against the trend, Gates Capital Management opened a new position in International Flavors & Fragrances worth $84.2M.

  • Gates Capital Management's largest Q1 2021 buy was International Flavors & Fragrances: 603,381 shares worth $84.2M.
  • Gates Capital Management added most to Vontier in Q1 2021, an estimated $72.3M increase.
  • Gates Capital Management's biggest Q1 2021 reduction was ChampionX, cutting an estimated $58M.
  • Gates Capital Management fully exited Hilton Worldwide in Q1 2021, selling an estimated $84.8M.
  • Gates Capital Management's ten largest holdings make up 60% of its $2.75B portfolio in Q1 2021.
  • Gates Capital Management opened 2 new positions and closed 5 in Q1 2021.
  • Gates Capital Management's portfolio value fell 17% quarter-over-quarter to $2.75B.

Based on Gates Capital Management's 13F filing for Q1 2021, filed 17 May 2021.