GC
Gates Capital Management, Inc. Quarterly 13F Portfolio Update (Q2 2026)
Gates Capital Management, Inc.CIK: 0001312908
Momentum followerQuality / disciplined sizingDiversified strategy
Total reported value
$4.2B
Reporting period: 2026-06-30 · Number of holdings: 35
Gates Capital Management, Inc. disclosed 35 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $4.2B and a quarterly turnover rate of 30.4%.
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Personality snowflake
- Concentration
- 15.67
- Portfolio Stability
- 30.36
- Momentum
- 100
- Sector conviction
- 45.39
- Diversification
- 70
- Sizing Uniformity
- 93.82
Gates Capital Management, Inc.'s disclosed holdings carry a Herfindahl concentration index of 0.039 — mathematically equivalent to about 26 equally-sized positions, close to its 35 actual disclosed holdings. Value is spread relatively evenly across the portfolio rather than concentrated in a handful of names.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.62), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 61% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govNew buy TLT
New buy COO
Add HYG
+76.5% $130.8M
Trim XLI
-17.1% -$19.6M
Trim AMRZ
-34.5% -$50.9M
Sold out VSNT
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | XLI | Ss Industrial Select Sector | ETF-Other | 8.90% | -1.76% | -17.06% | |
| 2 | HYG | Ishr Ibx Usd Hiyld Cb Etf-ui | ETF-High Yield | 7.21% | +2.59% | +76.47% | |
| 3 | XLB | Ss Materials Select Sector | ETF-Other | 5.50% | -0.03% | +11.11% | |
| 4 | TLT | Ishares 20+ Year Treasury Bd | ETF-Gov Bonds | 5.19% | +5.19% | NEW | |
| 5 | DAR | Darling Ingredients Inc | Stock-Consumer Staples | 3.81% | -0.18% | +22.93% | |
| 6 | TIC | Tic Solutions Inc | Stock-Other | 3.79% | -0.14% | -10.75% | |
| 7 | DVA | Davita Inc | Stock-Healthcare | 3.68% | +0.64% | -4.82% | |
| 8 | RTO | Rentokil Initial Plc-sp Adr | Stock-Other | 3.56% | -0.18% | +18.88% | |
| 9 | SPGI | S&p Global Inc | Stock-Financials | 3.54% | -0.27% | +10.13% | |
| 10 | NVST | Envista Holdings CORP | Stock-Healthcare | 3.52% | -0.20% | +3.54% | |
| 11 | CARR | Carrier Global CORP | Stock-Industrials | 3.51% | -0.33% | -20.18% | |
| 12 | MBC | Masterbrand Inc | Stock-Consumer Disc | 3.26% | +0.91% | +27.45% | |
| 13 | SIRI | Sirius Xm Holdings Inc | Stock-Comm Services | 3.22% | +1.49% | +65.55% | |
| 14 | ATKR | Atkore Inc | Stock-Other | 3.13% | -1.19% | -36.32% | |
| 15 | PNR | Pentair plc | Stock-Industrials | 3.09% | +0.94% | +85.63% | |
| 16 | COO | Cooper Cos Inc/the | Stock-Healthcare | 2.91% | +2.91% | NEW | |
| 17 | FTV | Fortive CORP | Stock-Tech | 2.67% | -0.49% | -12.83% | |
| 18 | VICI | Vici Properties Inc | Stock-Real Estate | 2.26% | -0.15% | +9.67% | |
| 19 | GLPI | Gaming And Leisure Propertie | Stock-Real Estate | 2.20% | -0.30% | -0.16% | |
| 20 | GTX | Garrett Motion Inc | Stock-Consumer Disc | 2.16% | -0.79% | -58.22% | |
| 21 | AMRZ | Amrize Ltd | Stock-Materials | 2.02% | -1.67% | -34.48% | |
| 22 | TKO | Tko Group Holdings Inc | Stock-Comm Services | 1.99% | -0.37% | -3.81% | |
| 23 | AWI | Armstrong World Industries | Stock-Industrials | 1.98% | -0.26% | +3.01% | |
| 24 | RAL | Ralliant CORP | Stock-Tech | 1.97% | +0.39% | -20.08% | |
| 25 | CRH | CRH plc | Stock-Materials | 1.90% | -1.23% | -32.11% | |
| 26 | VLTO | Veralto CORP | Stock-Industrials | 1.90% | -0.71% | -17.61% | |
| 27 | NEOG | Neogen CORP | Stock-Healthcare | 1.89% | +0.30% | +39.68% | |
| 28 | ESI | Element Solutions Inc | Stock-Materials | 1.85% | -1.00% | -47.32% | |
| 29 | AOS | Smith (a.o.) CORP | Stock-Industrials | 1.55% | -0.41% | -5.26% | |
| 30 | CCSI | Consensus Cloud Solution | Stock-Other | 1.51% | +0.32% | -10.56% | |
| 31 | OTIS | Otis Worldwide CORP | Stock-Industrials | 1.49% | -0.06% | +17.59% | |
| 32 | APG | Api Group CORP | Stock-Industrials | 1.45% | -0.32% | -10.94% | |
| 33 | KBR | Kbr Inc | Stock-Industrials | 1.18% | -0.93% | -31.98% | |
| 34 | XBP | Xbp Global Holdings Inc | Stock-Other | 0.18% | -0.20% | — | |
| 35 | ✓ | Stock-Other | 0.03% | +0.03% | NEW |
Portfolio Performance
Performance for Q3 2026
+0.2%
Performance Last 4 Quarters
+15.1%
- Stdev
- +17.5%
- Beta
- +1.04
- Alpha
- -7.4%
- Max Drawdown
- -12.4%
- Annualized Perf
- +12.6%
- Batting Avg vs S&P
- +33.3%
- Sortino
- +1.28
- Stutzer
- +0.22
- Treynor
- +0.13
- Sterling
- +0.65
- Calmar
- +1.02
- Information Ratio
- -0.59
- Tracking Error
- +11.2%
- Stdev Down
- +10.5%
- Winning Months %
- +63.9%
- Losing Months %
- +36.1%
- Best 12 Months
- +35.9%
- Worst 12 Months
- -3.7%
- Efficiency Ratio
- +0.28
- Sharpe
- +0.77
- Stdev Sectors
- +6.7%
- Skewness
- -0.17
- Kurtosis
- -0.75
- Upside Potential
- +3.05
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 35 | $4.2B | 30 | ||
| 2026 Q1 | 34 | $3.7B | 31 | ||
| 2025 Q4 | 32 | $3.8B | 47 | ||
| 2025 Q3 | 34 | $5.6B | 27 | ||
| 2025 Q2 | 34 | $5.8B | 0 | ||
| 2025 Q1 | 33 | $5.1B | 100 | ||
| 2024 Q4 | 37 | $5.3B | 0 | ||
| 2024 Q3 | 33 | $5.7B | 0 | ||
| 2024 Q2 | 35 | $5.0B | 0 | ||
| 2024 Q1 | 35 | $4.8B | 0 | ||
| 2023 Q4 | 35 | $4.3B | 0 | ||
| 2023 Q3 | 31 | $4.0B | 0 | ||
| 2023 Q2 | 34 | $4.2B | 0 | ||
| 2023 Q1 | 27 | $3.8B | 0 | ||
| 2022 Q4 | 27 | $3.2B | 0 | ||
| 2022 Q3 | 27 | $2.7B | 0 | ||
| 2022 Q2 | 26 | $2.9B | 0 | ||
| 2022 Q1 | 29 | $3.3B | 0 | ||
| 2021 Q4 | 31 | $3.6B | 0 | ||
| 2021 Q3 | 31 | $3.6B | 0 | ||
| 2021 Q2 | 29 | $3.5B | 27 | ||
| 2021 Q1 | 23 | $2.7B | 54 | ||
| 2020 Q4 | 26 | $3.3B | 67 | ||
| 2020 Q3 | 27 | $2.3B | 28 | ||
| 2020 Q2 | 26 | $2.0B | 60 | ||
| 2020 Q1 | 28 | $1.5B | 71 | ||
| 2019 Q4 | 27 | $2.3B | 19 | ||
| 2019 Q3 | 29 | $2.3B | 22 | ||
| 2019 Q2 | 29 | $2.4B | 43 | ||
| 2019 Q1 | 28 | $2.2B | 43 | ||
| 2018 Q4 | 28 | $1.8B | 84 | ||
| 2018 Q3 | 35 | $3.9B | 43 | ||
| 2018 Q2 | 32 | $3.6B | 56 | ||
| 2018 Q1 | 32 | $4.4B | 25 | ||
| 2017 Q4 | 33 | $4.2B | 38 | ||
| 2017 Q3 | 29 | $3.5B | 34 | ||
| 2017 Q2 | 26 | $3.0B | 24 | ||
| 2017 Q1 | 27 | $2.8B | 35 | ||
| 2016 Q4 | 30 | $2.6B | 46 | ||
| 2016 Q3 | 27 | $2.8B | 38 | ||
| 2016 Q2 | 27 | $2.9B | 23 | ||
| 2016 Q1 | 26 | $2.7B | 71 | ||
| 2015 Q4 | 20 | $1.5B | 56 | ||
| 2015 Q3 | 22 | $2.6B | 27 | ||
| 2015 Q2 | 24 | $3.0B | 29 | ||
| 2015 Q1 | 24 | $2.8B | 43 | ||
| 2014 Q4 | 27 | $3.4B | 25 | ||
| 2014 Q3 | 28 | $3.3B | 30 | ||
| 2014 Q2 | 33 | $3.7B | 25 | ||
| 2014 Q1 | 30 | $3.4B | 39 | ||
| 2013 Q4 | 30 | $3.0B | 28 | ||
| 2013 Q3 | 29 | $2.5B | 34 | ||
| 2013 Q2 | 32 | $2.2B | 0 |
Holding changes this quarter
Gates Capital Management, Inc.'s most significant position changes for 2026-06-30: New buy: Ishares 20+ Year Treasury Bd (TLT); New buy: Cooper Cos Inc/the (COO); Sold out: Versant Media Group Inc (VSNT); Sold out: Qnity Electronics Inc (Q); New buy: .
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | TLT | Ishares 20+ Year Treasury Bd | +5.2% | NEW | New buy |
| 2 | COO | Cooper Cos Inc/the | +2.9% | NEW | New buy |
| 3 | HYG | Ishr Ibx Usd Hiyld Cb Etf-ui | +2.6% | +76.47% | Add |
| 4 | SIRI | Sirius Xm Holdings Inc | +1.5% | +65.55% | Add |
| 5 | PNR | Pentair plc | +0.9% | +85.63% | Add |
| 6 | MBC | Masterbrand Inc | +0.9% | +27.45% | Add |
| 7 | DVA | Davita Inc | +0.6% | -4.82% | Trim |
| 8 | RAL | Ralliant CORP | +0.4% | -20.08% | Trim |
| 9 | CCSI | Consensus Cloud Solution | +0.3% | -10.56% | Trim |
| 10 | NEOG | Neogen CORP | +0.3% | +39.68% | Add |
| 11 | ✓ | 0% | NEW | New buy | |
| 12 | XLB | Ss Materials Select Sector | 0% | +11.11% | Add |
| 13 | OTIS | Otis Worldwide CORP | -0.1% | +17.59% | Add |
| 14 | TIC | Tic Solutions Inc | -0.1% | -10.75% | Trim |
| 15 | VICI | Vici Properties Inc | -0.2% | +9.67% | Add |
| 16 | DAR | Darling Ingredients Inc | -0.2% | +22.93% | Add |
| 17 | RTO | Rentokil Initial Plc-sp Adr | -0.2% | +18.88% | Add |
| 18 | NVST | Envista Holdings CORP | -0.2% | +3.54% | Add |
| 19 | XBP | Xbp Global Holdings Inc | -0.2% | — | Unchanged |
| 20 | AWI | Armstrong World Industries | -0.3% | +3.01% | Add |
| 21 | SPGI | S&p Global Inc | -0.3% | +10.13% | Add |
| 22 | GLPI | Gaming And Leisure Propertie | -0.3% | -0.16% | Trim |
| 23 | APG | Api Group CORP | -0.3% | -10.94% | Trim |
| 24 | CARR | Carrier Global CORP | -0.3% | -20.18% | Trim |
| 25 | TKO | Tko Group Holdings Inc | -0.4% | -3.81% | Trim |
| 26 | AOS | Smith (a.o.) CORP | -0.4% | -5.26% | Trim |
| 27 | FTV | Fortive CORP | -0.5% | -12.83% | Trim |
| 28 | VLTO | Veralto CORP | -0.7% | -17.61% | Trim |
| 29 | GTX | Garrett Motion Inc | -0.8% | -58.22% | Trim |
| 30 | KBR | Kbr Inc | -0.9% | -31.98% | Trim |
| 31 | ESI | Element Solutions Inc | -1% | -47.32% | Trim |
| 32 | Q | Qnity Electronics Inc | -1% | EXIT | Sold out |
| 33 | ATKR | Atkore Inc | -1.2% | -36.32% | Trim |
| 34 | CRH | CRH plc | -1.2% | -32.11% | Trim |
| 35 | VSNT | Versant Media Group Inc | -1.5% | EXIT | Sold out |
| 36 | AMRZ | Amrize Ltd | -1.7% | -34.48% | Trim |
| 37 | XLI | Ss Industrial Select Sector | -1.8% | -17.06% | Trim |
Filing History
FAQ
What is Gates Capital Management, Inc. and what type of investor is it?
Gates Capital Management, Inc. is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $4.2B, spread across 35 disclosed positions.
What are Gates Capital Management, Inc.'s largest equity positions?
Based on the latest 13F filing, Gates Capital Management, Inc.'s top holdings by market value are:
1. Ss Industrial Select Sector (XLI) — $370.5M (8.9%)
2. Ishr Ibx Usd Hiyld Cb Etf-ui (HYG) — $299.9M (7.2%)
3. Ss Materials Select Sector (XLB) — $228.7M (5.5%)
4. Ishares 20+ Year Treasury Bd (TLT) — $216.1M (5.2%)
5. Darling Ingredients Inc (DAR) — $158.5M (3.8%)
What changes did Gates Capital Management, Inc. make in its most recent portfolio filing?
In the latest reported quarter, Gates Capital Management, Inc. made 36 notable position adjustments: 3 new positions were initiated, 13 existing holdings were added to, 18 positions were partially reduced, and 2 were completely exited. The largest of these moves: New buy: Ishares 20+ Year Treasury Bd (TLT); New buy: Cooper Cos Inc/the (COO); Sold out: Versant Media Group Inc (VSNT); Sold out: Qnity Electronics Inc (Q); New buy:
What sectors does Gates Capital Management, Inc. focus on?
Gates Capital Management, Inc. is concentrated in the following sectors based on its current disclosed equity portfolio:
• Industrials: 26.5%
• Health Care: 19.7%
• Materials: 9.5%
• Consumer Discretionary: 8.9%
• Communication Services: 8.6%
• Information Technology: 7.6%
Investment Profile
Gates Capital Management, Inc. returned an annualized 12.6% over the trailing 36 months — underperforming the S&P 500 by 7.4 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 1.04 (roughly in line with the market) and a 33% quarterly batting average against the index.
Its portfolio is broadly diversified and moderately active.
Its concentration score has fallen from 50 to 16 over the past 4 quarters — a shift toward broader diversification.
It has added to its CCSI position over the past two quarters (+$23.6M, now $62.7M), while trimming XLI over the same stretch (-$143.8M, still holding $370.5M).
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