Gates Capital Management, Inc.
Long book
$2.90B
Q1 2026
Positions
31
Top-10 weight
47%
concentration
Last quarter
+13.1%
SPY +14.8%
Turnover
16%
of book per quarter
Strategy in plain words
auto-generated from filingsGates Capital Management, Inc. is a concentrated fundamental stock-picker, running a $2.90B US long book across 31 positions.
The portfolio is moderately concentrated (top 10 ≈ 47% of the book). Turnover is modest: positions are typically held for years. Current anchor positions: ATKORE INC, DARLING INGREDIENTS INC, TIC SOLUTIONS INC, CARRIER GLOBAL CORP, S&P GLOBAL INC.
Over the last 9 quarters its long book ran on average 2.4pp per quarter behind the S&P 500, beating the index in 2 of 9 quarters. We rate its filings highest-signal: new buys here are worth attention.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-7.2%
Q2 2024
+8.0%
Q3 2024
-2.8%
Q4 2024
-5.7%
Q1 2025
+6.2%
Q2 2025
+2.9%
Q3 2025
+1.1%
Q4 2025
+3.5%
Q1 2026
+13.1%
Sector allocation
Industrials 30%
Technology 20%
Services media 17%
Other 11%
Healthcare 10%
Consumer staples 6%
Communications 5%
Materials 2%
Long book by quarter
What does Gates Capital own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| ATKR ATKORE INC | Technology | 2.7M | $158.2M | 5.5% | -1.7% |
| DAR DARLING INGREDIENTS INC | Consumer staples | 2.4M | $146.0M | 5.0% | -50.2% |
| TIC TIC SOLUTIONS INC | Services media | 21.9M | $143.8M | 5.0% | +47.3% |
| CARR CARRIER GLOBAL CORP | Industrials | 2.5M | $140.5M | 4.8% | -22.5% |
| SPGI S&P GLOBAL INC | Services media | 328.0K | $139.5M | 4.8% | +14.0% |
| NVST ENVISTA HOLDINGS CORP | Healthcare | 5.4M | $136.1M | 4.7% | -7.7% |
| AMRZ AMRIZE LTD | Industrials | 2.4M | $135.2M | 4.7% | -1.3% |
| FTV FORTIVE CORP | Technology | 2.1M | $115.5M | 4.0% | -14.4% |
| CRH CRH PLC | Industrials | 1.1M | $114.5M | 4.0% | +39.9% |
| DVA DAVITA INC | Healthcare | 723.0K | $111.1M | 3.8% | -38.5% |
| GTX GARRETT MOTION INC | Industrials | 5.9M | $107.9M | 3.7% | +8.4% |
| ESI ELEMENT SOLUTIONS INC | Other | 3.1M | $104.4M | 3.6% | -33.0% |
| VLTO VERALTO CORP | Technology | 1.1M | $95.5M | 3.3% | +36.2% |
| TKO TKO GROUP HOLDINGS INC | Services media | 427.9K | $86.3M | 3.0% | -4.9% |
| MBC MASTERBRAND INC | Other | 10.3M | $86.0M | 3.0% | +12.2% |
| AWI ARMSTRONG WORLD INDUSTRIES | Other | 498.3K | $82.1M | 2.8% | +16.5% |
| PNR PENTAIR PLC | Industrials | 902.6K | $78.6M | 2.7% | Held |
| KBR KBR INC | Industrials | 2.1M | $77.1M | 2.7% | New |
| AOS SMITH (A.O.) CORP | Industrials | 1.1M | $71.7M | 2.5% | New |
| APG API GROUP CORP | Services media | 1.6M | $64.8M | 2.2% | -12.7% |
| SIRI SIRIUS XM HOLDINGS INC | Communications | 2.7M | $63.3M | 2.2% | New |
| NEOG NEOGEN CORP | Materials | 6.3M | $58.1M | 2.0% | -25.4% |
| RAL RALLIANT CORP | Technology | 1.4M | $57.8M | 2.0% | -38.4% |
| OTIS OTIS WORLDWIDE CORP | Industrials | 737.6K | $56.9M | 2.0% | -2.7% |
| VSNT VERSANT MEDIA GROUP INC | Communications | 1.5M | $55.8M | 1.9% | New |
| CCSI CONSENSUS CLOUD SOLUTION | Technology | 1.8M | $43.6M | 1.5% | +2.4% |
| Q QNITY ELECTRONICS INC | Technology | 325.5K | $37.6M | 1.3% | +6.5% |
| XBP XBP GLOBAL HOLDINGS INC | Services media | 3.2M | $14.0M | 0.5% | Held |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 34 | $3.66B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 32 | $3.80B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 34 | $5.59B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 34 | $5.80B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 33 | $5.10B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 37 | $5.33B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 33 | $5.72B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 35 | $5.04B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 35 | $4.80B | canonical | SEC ↗ |
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