WhaleCreep

Gates Capital Management, Inc. 13F holdings, Q2 2018

Hedge fundSEC filingsCompare with another fundHoldings as of 2018-06-30, filed 2018-08-14

Gates Capital Management, Inc. disclosed 31 US equity positions worth $2.7bn in its Q2 2018 13F filing. Its largest position is AABAUSD at 10.2% of the reported book, followed by HLT and MGM. Versus Q1 2018 it opened 4 new positions, added to 11, reduced 14 and exited 4.

$2.7bn
Reported equity book
Sum of the long US equity positions in the filing, at the values filed. Options are excluded.
31
Positions
Distinct securities in the equity book with a reported value above zero. Options are excluded.
10.2%
Largest position
The largest single position as a share of the reported equity book.
55.4%
Top 10 weight
The ten largest positions together, as a share of the reported equity book.
22
Effective positions
1 / HHI of portfolio weights: the number of equal-weight positions the book behaves like.
87
Quarters on file since Q4 2004
Quarters for which this manager's 13F holdings are on record.

Holdings

Against Q1 2018: 4 new, 11 added, 14 reduced, 4 exited

31 rows
AABAUSD ALTABA INC–10.2%$278m3.80m+54%added
HLT HILTON WORLDWIDE HLDGS INCConsumer Cyclical6.0%$165m2.08m+39%added
MGM MGM RESORTS INTERNATIONALConsumer Cyclical5.4%$146m5.04m+89%added
DOV DOVER CORPIndustrials5.2%$143m1.95m–new
DVA DAVITA INCHealthcare5.1%$140m2.02m−3.9%reduced
OPLN OPENLANE INCConsumer Cyclical5.1%$139m2.54m+35%added
AWI ARMSTRONG WORLD INDS INC NEWIndustrials4.8%$130m2.06m−19%reduced
GRA1EUR GRACE W R & CO DEL NEW–4.6%$126m1.71m−45%reduced
GLPI GAMING & LEISURE PReal Estate4.5%$124m3.47m+15%added
SNA SNAP ON INCIndustrials4.4%$121m751,486−8.8%reduced
SENSATA TECHNOLOGIES HLDG PL no ticker–3.9%$105m2.21m+43%added
VICI VICI PPTYS INCReal Estate3.8%$103m5.01m−6.6%reduced
MFS1EUR WELBILT INC–3.7%$102m4.57m+9.4%added
VSMEUR VERSUM MATLS INC–3.4%$93.1m2.51m+5.0%added
IR INGERSOLL-RAND PLCIndustrials3.0%$82.8m922,709+27%added
WYNEUR WYNDHAM DESTINATIONS INC–3.0%$81.7m1.85m–new
PNR PENTAIR PLCIndustrials3.0%$81.2m1.93m–new
EXP EAGLE MATERIALS INCBasic Materials2.5%$67.5m643,418−24%reduced
SPGI S&P GLOBAL INCFinancial Services2.3%$63.2m310,0000.0%held
CC CHEMOURS COBasic Materials2.3%$62.3m1.41m+16%added
MERC MERCER INTL INCBasic Materials2.2%$61.2m3.50m−24%reduced
NUVERRA ENVIRONMENTAL SOLUTI no ticker–2.2%$60.3m5.02m0.0%held
SRG SERITAGE GROWTH PPTYSReal Estate2.0%$53.4m1.26m−18%reduced
SERVUSD SERVICEMASTER GLOBAL HLDGS I–1.7%$47.2m793,000−47%reduced
GCPEUR GCP APPLIED TECHNOLOGIES INC–1.4%$37.1m1.28m−15%reduced
IOUSD ION GEOPHYSICAL CORP–1.0%$28.4m1.17m+36%added
DAR DARLING INGREDIENTS INCConsumer Defensive1.0%$28.2m1.42m−5.6%reduced
MGP MGM GROWTH PPTYS LLC–0.8%$22.5m737,890−36%reduced
EXELA TECHNOLOGIES INC no ticker–0.7%$20.3m4.27m–new
FLOTEK INDS INC DEL no ticker–0.4%$9.7m2.99m−46%reduced
VSTOEUR VISTA OUTDOOR INC–0.3%$7.7m498,618−86%reduced

Exited since Q1 2018

4 rows
ITRI ITRON INC2.4%$60.4m
PLATFORM SPECIALTY PRODS COR no ticker2.3%$56.8m
FTV FORTIVE CORP2.2%$54.5m
HGV HILTON GRAND VACATIONS INC0.9%$23.7m

Sector mix

  • Unclassified37.3%
  • Industrials20.4%
  • Consumer Cyclical16.5%
  • Real Estate10.3%
  • Basic Materials7.0%
  • Healthcare5.1%
  • Financial Services2.3%
  • Consumer Defensive1.0%

Book over time

Every quarter on file (87)
QuarterPositionsEquity book
Q2 202631$3.0bn
Q1 202631$2.9bn
Q4 202528$2.9bn
Q3 202529$3.2bn
Q2 202529$3.3bn
Q1 202529$3.2bn
Q4 202430$3.4bn
Q3 202427$3.5bn
Q2 202430$3.3bn
Q1 202431$3.4bn
Q4 202329$3.0bn
Q3 202327$3.1bn
Q2 202329$3.2bn
Q1 202324$2.9bn
Q4 202224$2.6bn
Q3 202223$2.4bn
Q2 202223$2.6bn
Q1 202227$3.2bn
Q4 202131$3.6bn
Q3 202131$3.6bn
Q2 202129$3.5bn
Q1 202123$2.7bn
Q4 202024$2.5bn
Q3 202025$2.2bn
Q2 202024$2.0bn
Q1 202028$1.5bn
Q4 201927$2.3bn
Q3 201929$2.3bn
Q2 201929$2.4bn
Q1 201927$2.2bn
Q4 201827$1.8bn
Q3 201834$2.7bn
Q2 201831$2.7bn
Q1 201831$2.5bn
Q4 201732$2.4bn
Q3 201728$2.3bn
Q2 201725$2.2bn
Q1 201726$2.1bn
Q4 201627$2.0bn
Q3 201624$1.9bn
Q2 201626$1.9bn
Q1 201624$1.6bn
Q4 201520$1.5bn
Q3 201522$2.6bn
Q2 201524$3.0bn
Q1 201524$2.8bn
Q4 201427$3.4bn
Q3 201427$3.3bn
Q2 201430$3.7bn
Q1 201428$3.4bn
Q4 201328$3.0bn
Q3 201328$2.5bn
Q2 201329$2.2bn
Q1 201323$1.4bn
Q4 201225$1.2bn
Q3 201225$1.1bn
Q2 201224$1.1bn
Q1 201221$914m
Q4 201121$715m
Q3 201119$569m
Q2 201119$714m
Q1 201119$571m
Q4 201018$440m
Q3 201018$347m
Q2 201022$356m
Q1 201024$354m
Q4 200918$335m
Q3 200916$287m
Q2 200919$235m
Q1 200915$140m
Q4 20088$70.5m
Q3 200811$277m
Q2 200813$301m
Q1 200812$291m
Q4 200712$365m
Q3 200710$349m
Q2 200716$536m
Q1 200722$504m
Q4 200619$456m
Q3 200616$482m
Q2 200619$466m
Q1 200619$397m
Q4 200515$310m
Q3 200515$307m
Q2 200514$255m
Q1 200513$195m
Q4 200414$189m

Where Gates Capital Management, Inc. was early

72 rows
PZZA PAPA JOHNS INTL INCQ1 20051 of 1248.1%15.0%13Exited by Q3 2010+33%
MO ALTRIA GROUP INCQ1 20079 of 1535.5%9.3%4Exited by Q2 2008−75%
ADP INCQ3 20077 of 1486.3%11.1%4Exited by Q3 2009−23%
9HI HILLENBRAND INCQ2 20081 of 1016.4%18.9%4Exited by Q2 2009−25%
PM PHILIP MORRIS INTL INCQ2 20082 of 16911.6%11.6%3Exited by Q2 2009−28%
NX QUANEX BUILDING PRODUCTS CORQ4 20081 of 752.9%6.8%17Exited by Q4 2013+101%
WU WESTERN UN COQ1 20099 of 1338.6%8.6%5Exited by Q2 2010+35%
SJM SMUCKER J M COQ2 20091 of 1283.3%5.8%2Exited by Q4 2009+8.9%
SNI SCRIPPS NETWORKS INTERACT INQ2 20092 of 808.1%8.8%14Exited by Q3 2015+135%
UFS DOMTAR CORPQ2 20092 of 721.8%11.8%14Exited by Q2 2013+56%
ZBH ZIMMER HLDGS INCQ4 20096 of 1445.5%6.5%11Exited by Q3 2012+8.9%
OPLN KAR AUCTION SVCS INCQ1 20103 of 1322.0%7.2%21Exited by Q4 2020+153%
SNA SNAP ON INCQ4 20104 of 1088.1%8.5%37Exited by Q1 2020+199%
ASH ASHLAND INC NEWQ1 20111 of 1292.7%8.8%10Exited by Q3 2013+45%
MAS MASCO CORPQ1 20111 of 1314.1%4.8%2Exited by Q3 2011−14%
RELL RICHARDSON ELECTRS LTDQ1 20111 of 361.1%2.0%18Exited by Q3 2015−39%
XYL XYLEM INCQ4 20111 of 1343.2%9.7%7Exited by Q3 2013+4.9%
SSP SCRIPPS E W CO OHIOQ4 20112 of 733.7%6.6%6Exited by Q2 2013+50%
MERC MERCER INTL INCQ2 20121 of 681.2%7.1%49Exited by Q3 2025−39%
MLI MUELLER INDS INCQ2 20122 of 1033.5%4.7%32Exited by Q2 2024+407%
MGM MGM RESORTS INTERNATIONALQ4 20126 of 2120.6%6.5%30Exited by Q2 2020+1.4%
BUSD BARNES GROUP INCQ1 20131 of 721.7%3.5%9Exited by Q2 2015−6.7%
DVA DAVITA INCQ1 20133 of 1338.0%8.9%54Held at last filing, Q2 2026+275%
ALB ALBEMARLE CORPQ2 20131 of 1782.1%6.0%12Exited by Q2 2016+2.6%
NWSA NEWS CORP NEWQ2 20131 of 1401.7%2.6%3Exited by Q1 2014+18%
TROX TRONOX LTDQ2 20131 of 1294.8%5.5%4Exited by Q2 2014+18%
CF CF INDS HLDGS INCQ3 20138 of 1851.2%1.8%2Exited by Q1 2014+11%
GLPI GAMING & LEISURE PQ4 20132 of 1613.0%7.7%51Held at last filing, Q2 2026−12%
DOV DOVER CORPQ1 20142 of 1334.9%7.4%13Exited by Q4 2018+34%
ALSN ALLISON TRANSMISSION HLDGS IQ1 20143 of 1313.8%6.7%12Exited by Q1 2017+13%
DNOW NOW INCQ2 20142 of 1332.6%2.6%3Exited by Q1 2015−29%
TKR TIMKEN COQ3 20144 of 1153.4%3.4%2Exited by Q1 2015+0.7%
CPRT COPART INCQ3 20147 of 1781.2%3.7%6Exited by Q2 2016+30%
EXP EAGLE MATERIALS INCQ1 20157 of 1345.0%6.2%14Exited by Q1 2019−27%
OLN OLIN CORPQ4 20154 of 1603.5%3.7%5Exited by Q1 2017+48%
CC CHEMOURS COQ1 20168 of 1690.7%3.2%11Exited by Q4 2018+463%
HLT HILTON WORLDWIDE HLDGS INCQ1 201621 of 2253.9%10.2%20Exited by Q1 2021+141%
FTV FORTIVE CORPQ2 20162 of 1510.3%6.5%31Held at last filing, Q2 2026+229%
SPGI S&P GLOBAL INCQ2 20167 of 2472.9%6.8%41Held at last filing, Q2 2026+280%
HGV HILTON GRAND VACATIONS INCQ4 20161 of 1662.3%5.3%9Exited by Q2 2019+19%
DFIN DONNELLEY FINL SOLUTIONS INCQ4 20162 of 832.2%2.2%5Exited by Q1 2018−15%
LW LAMB WESTON HLDGS INCQ4 20163 of 1963.3%4.9%11Exited by Q4 2025+53%
MGP MGM GROWTH PPTYS LLCQ4 20164 of 993.4%3.4%8Exited by Q4 2018+17%
SRG SERITAGE GROWTH PPTYSQ3 20179 of 821.8%2.9%11Exited by Q2 2020−80%
ITRI ITRON INCQ4 20174 of 1550.7%2.4%2Exited by Q2 2018+4.9%
IR INGERSOLL-RAND PLCQ1 201811 of 1312.5%3.7%6Exited by Q1 2020+20%
VICI VICI PPTYS INCQ1 201811 of 1633.9%7.5%34Held at last filing, Q2 2026+45%
PNR PENTAIR PLCQ2 20189 of 1273.0%4.9%18Held at last filing, Q2 2026+82%
GTX GARRETT MOTION INCQ3 20184 of 1370.5%3.7%9Held at last filing, Q2 2026+96%
ESI ELEMENT SOLUTIONS INCQ1 20193 of 1173.1%6.8%30Held at last filing, Q2 2026+373%

Concentration and tenure

8.1%
Median largest position, all quarters
The largest single position as a share of the reported equity book.
60.4%
Median top 10 weight, all quarters
The ten largest positions together, as a share of the reported equity book.
Concentrated
Style, by median largest position
4
Median completed holding, quarters