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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
+8.71%
1 Year Est. Return
+21%
3 Year Est. Return
+34.83%
5 Year Est. Return
+35.77%
10 Year Est. Return
+189.44%
AUM
$4.34B
AUM Growth
+$346M
Cap. Flow
-$282M
Cap. Flow %
-6.49%
Top 10 Hldgs %
50.37%
Holding
36
New
5
Increased
8
Reduced
22
Closed
1

Top Buys

Rank Stock Value
1
VLTO icon
Veralto
VLTO
+$121M
2
APG icon
APi Group
APG
+$93.4M
3
DAR icon
Darling Ingredients
DAR
+$80.9M
4
GTLS
Chart Industries
GTLS
+$30.7M
5
CRH icon
CRH
CRH
+$16.5M

Top Sells

Rank Stock Value
1
GEHC icon
GE HealthCare
GEHC
+$71M
2
NVST icon
Envista
NVST
+$69.2M
3
WH icon
Wyndham Hotels & Resorts
WH
+$67.6M
4
FTRE icon
Fortrea Holdings
FTRE
+$61M
5
AWI icon
Armstrong World Industries
AWI
+$53.8M

Sector Composition

Rank Sector Weight
1 Miscellaneous 30.44%
2 Industrials 30.43%
3 Healthcare 8.3%
4 Materials 6.96%
5 Consumer Discretionary 5.17%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
XLI icon
1
PUT
State Street Industrial Select Sector SPDR ETF
XLI
$30.6B
$570M 13.13%
5,000,000
+1,250,000
+33% +$131M
XLI icon
2
CALL
State Street Industrial Select Sector SPDR ETF
XLI
$30.6B
$456M 10.51%
4,000,000
+250,000
+7% +$26.2M
CARR icon
3
Carrier Global
CARR
$45.8B
$176M 4.05%
3,061,763
-474,642
-13% -$25.1M
VSTO
4
DELISTED
Vista Outdoor Inc.
VSTO
$156M 3.6%
5,285,616
-499,430
-9% -$13.7M
RTO icon
5
Rentokil
RTO
$11.2B
$147M 3.4%
5,155,193
+528,409
+11% +$15.5M
CRH icon
6
CRH
CRH
$58.3B
$147M 3.4%
2,130,991
+273,000
+15% +$16.5M
MBC icon
7
MasterBrand
MBC
$1.42B
$135M 3.11%
9,080,934
-407,371
-4% -$5.22M
VLTO icon
8
Veralto
VLTO
$23.3B
$134M 3.08%
+1,623,021
New +$121M
SPGI icon
9
S&P Global
SPGI
$122B
$133M 3.06%
301,554
-25,300
-8% -$9.98M
KVUE icon
10
Kenvue
KVUE
$34.4B
$132M 3.04%
6,137,844
-1,713,218
-22% -$34.3M
ATKR icon
11
Atkore
ATKR
$3.19B
$132M 3.03%
822,321
-86,826
-10% -$12M
GEHC icon
12
GE HealthCare
GEHC
$28.9B
$131M 3.02%
1,695,172
-1,013,663
-37% -$71M
ESI icon
13
Element Solutions
ESI
$7.75B
$130M 2.99%
5,616,071
-2,505,932
-31% -$50.6M
PNR icon
14
Pentair
PNR
$9.03B
$112M 2.58%
1,541,553
-470,324
-23% -$30.3M
APG icon
15
APi Group
APG
$16B
$112M 2.57%
+4,843,722
New +$93.4M
SPGI icon
16
PUT
S&P Global
SPGI
$122B
$110M 2.54%
250,000
+74,500
+42% +$29.4M
GLPI icon
17
Gaming and Leisure Properties
GLPI
$11.8B
$110M 2.53%
2,224,266
-260,064
-10% -$12M
DVA icon
18
DaVita
DVA
$12.2B
$94.9M 2.19%
905,830
+27,660
+3% +$2.56M
GTLS
19
DELISTED
Chart Industries
GTLS
$92.3M 2.13%
677,206
+227,280
+51% +$30.7M
WH icon
20
Wyndham Hotels & Resorts
WH
$5.01B
$89.4M 2.06%
1,112,378
-898,225
-45% -$67.6M
MLI icon
21
Mueller Industries
MLI
$13.4B
$89.4M 2.06%
3,792,414
-994,562
-21% -$20.1M
DAR icon
22
Darling Ingredients
DAR
$10.5B
$88.9M 2.05%
+1,783,399
New +$80.9M
AWI icon
23
Armstrong World Industries
AWI
$6.77B
$87.3M 2.01%
887,876
-650,186
-42% -$53.8M
VICI icon
24
VICI Properties
VICI
$27.3B
$86.8M 2%
2,721,737
-100,000
-4% -$2.94M
OTIS icon
25
Otis Worldwide
OTIS
$26.1B
$82.9M 1.91%
927,039
-338,798
-27% -$28.2M
1
2

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Gates Capital Management's Q4 2023 Portfolio in Review

As of Q4 2023, Gates Capital Management held 36 positions worth $4.34B, up 8.7% from $3.99B the previous quarter. Its ten largest holdings account for 50% of the portfolio.

Gates Capital Management withdrew a net $282M in Q4 2023, closing 1 position and reducing 22 holdings. Its most notable exit was Exela Technologies, Inc. 6.00% Series B Cumulative Convertible Perpetual Preferred Stock, an estimated $135K position sold in full.

By sector, the portfolio is most concentrated in Miscellaneous at 30% of assets, up from 23% a quarter earlier, followed by Industrials and Healthcare.

Against the trend, Gates Capital Management opened a new position in Veralto worth $134M.

  • Gates Capital Management's largest Q4 2023 buy was Veralto: 1,623,021 shares worth $134M.
  • Gates Capital Management added most to Chart Industries in Q4 2023, an estimated $30.7M increase.
  • Gates Capital Management's biggest Q4 2023 reduction was GE HealthCare, cutting an estimated $71M.
  • Gates Capital Management fully exited Exela Technologies, Inc. 6.00% Series B Cumulative Convertible Perpetual Preferred Stock in Q4 2023, selling an estimated $135K.
  • Gates Capital Management's ten largest holdings make up 50% of its $4.34B portfolio in Q4 2023.
  • Gates Capital Management opened 5 new positions and closed 1 in Q4 2023.
  • Gates Capital Management's portfolio value rose 8.7% quarter-over-quarter to $4.34B.

Based on Gates Capital Management's 13F filing for Q4 2023, filed 14 Feb 2024.