Gates Capital Management, Inc. In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 15, 2024), Gates Capital Management, Inc. reported 31 stock positions worth $3.4 billion . Its top holding was Carrier Global (CARR) at 5.3% of the portfolio, followed by Vista Outdoor (VSTO, 5.3% ) and CRH (CRH, 5.3% ). Compared with Q4 2023, it opened 2 new positions, added to 12 and reduced 17. The biggest buy was a new position in Nextpower (NXT) and the biggest sale Atkore (ATKR, shares −47% ).
Location New York, NY
CIK 0001312908
Portfolio Value $3.4B (Q1 2024) Holdings 31 stocks · $3.4B Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q4 2023 CARR Carrier Global Corp. 3,121,763 $181.5M Add +2.0% VSTO Vista Outdoor Inc. 5,512,058 $180.7M Add +4.3% CRH CRH PLC 2,085,991 $179.9M Reduce -2.1% RTO Rentokil Initial PLC-SP ADR 5,663,445 $170.8M Add +9.9% MBC Masterbrand Inc. 8,520,324 $159.7M Reduce -6.2% VLTO Veralto Corp. 1,778,021 $157.6M Add +9.6% KVUE Kenvue Inc. 7,078,314 $151.9M Add +15.3% GEHC GE Healthcare Technology 1,643,372 $149.4M Reduce -3.1% WH Wyndham Hotels & Resorts Inc. 1,897,882 $145.7M Add +70.6% PNR Pentair PLC 1,504,280 $128.5M Reduce -2.4% APG Api Group Corp. 3,158,058 $124.0M Reduce -2.2% DAR Darling Ingredients Inc. 2,658,056 $123.6M Add +49.0% SPGI S&P Global Inc. 287,554 $122.3M Reduce -4.6% GLPI Gaming and Leisure Propertie 2,650,312 $122.1M Add +19.1% DVA Davita Inc. 762,567 $105.3M Reduce -15.8% GTLS Chart Industries Inc. 621,671 $102.4M Reduce -8.2% AWI Armstrong World Industries 779,086 $96.8M Reduce -12.3% NVST Envista Holdings Corp. 4,465,028 $95.5M Add +61.4% FTRE Fortrea Holdings Inc. 2,371,628 $95.2M Add +22.0% VICI Vici Properties Inc. filed as VICI PPTYS INC 3,106,737 $92.5M Add +14.2% OTIS Otis Worldwide Corp. 898,239 $89.2M Reduce -3.1% ESI Element Solutions Inc. 3,494,489 $87.3M Reduce -37.8% CHX Championx Corp. 2,399,443 $86.1M Reduce -6.3% ATKR Atkore Inc. 433,829 $82.6M Reduce -47.2% NXT Nextpower Inc. filed as NEXTRACKER INC 1,338,747 $75.3M New FTV Fortive Corp. 840,494 $72.3M Reduce -5.4% ENTG Entegris Inc. 510,198 $71.7M Reduce -23.9% TKO Tko Group Holdings Inc. 609,362 $52.7M New MLI Mueller Industries Inc. 952,407 $51.4M Reduce -49.8% CCSI Consensus Cloud Solution 1,891,132 $30.0M Add +21.2% MERC Mercer International Inc. 1,647,969 $16.4M Reduce -36.7%
Options reported separately and not counted above: XLI puts ($629.8M), XLI calls ($629.8M), ENTG puts ($94.2M), KVUE calls ($42.9M).
Portfolio Sells Q4 2023 → Q1 2024 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2023 % Of Portfolio Change To Portfolio ▲ ATKR Atkore Inc. Reduce -47.2% 2.43% −1.93 ESI Element Solutions Inc. Reduce -37.8% 2.57% −1.74 MLI Mueller Industries Inc. Reduce -49.8% 1.51% −1.45 SPGI S&P Global Inc. Reduce -4.6% 3.60% −0.80 ENTG Entegris Inc. Reduce -23.9% 2.11% −0.55 MERC Mercer International Inc. Reduce -36.7% 0.48% −0.33 OTIS Otis Worldwide Corp. Reduce -3.1% 2.62% −0.12 APG Api Group Corp. Reduce -2.2% 3.65% −0.05 DVA Davita Inc. Reduce -15.8% 3.10% −0.05 GTLS Chart Industries Inc. Reduce -8.2% 3.01% −0.05 AWI Armstrong World Industries Reduce -12.3% 2.85% −0.05 FTV Fortive Corp. Reduce -5.4% 2.13% −0.04 GEHC GE Healthcare Technology Reduce -3.1% 4.39% +0.05 CHX Championx Corp. Reduce -6.3% 2.53% +0.05 PNR Pentair PLC Reduce -2.4% 3.78% +0.07 MBC Masterbrand Inc. Reduce -6.2% 4.70% +0.23 CRH CRH PLC Reduce -2.1% 5.29% +0.41
Portfolio Buys Q4 2023 → Q1 2024 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2023 % Of Portfolio Change To Portfolio ▼ NXT Nextpower Inc. New 2.22% +2.22 TKO Tko Group Holdings Inc. New 1.55% +1.55 WH Wyndham Hotels & Resorts Inc. Add +70.6% 4.28% +1.32 DAR Darling Ingredients Inc. Add +49.0% 3.64% +0.69 NVST Envista Holdings Corp. Add +61.4% 2.81% +0.60 FTRE Fortrea Holdings Inc. Add +22.0% 2.80% +0.55 VLTO Veralto Corp. Add +9.6% 4.64% +0.21 VSTO Vista Outdoor Inc. Add +4.3% 5.31% +0.14 RTO Rentokil Initial PLC-SP ADR Add +9.9% 5.02% +0.14 KVUE Kenvue Inc. Add +15.3% 4.47% +0.09 GLPI Gaming and Leisure Propertie Add +19.1% 3.59% −0.04 VICI Vici Properties Inc. Add +14.2% 2.72% −0.15 CCSI Consensus Cloud Solution Add +21.2% 0.88% −0.47 CARR Carrier Global Corp. Add +2.0% 5.34% −0.49
Options Activity Q4 2023 → Q1 2024 Security Type Change vs Q4 2023 Underlying Shares Value ▼ XLI SS Industrial Select Sector call Add +25.0% 5,000,000 $629.8M SPGI S&P Global Inc. put Sold out 250,000 $110.1Mbefore exit KVUE Kenvue Inc. call Reduce -33.3% 2,001,000 $42.9M CARR Carrier Global Corp. put Sold out 700,000 $40.2Mbefore exit
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 31 $3.0B DAR, TIC, DVA, RTO, SPGI Q1 2026 31 $2.9B ATKR, DAR, TIC, CARR, SPGI Q4 2025 28 $2.9B ATKR, DAR, CARR, SPGI, TIC Q3 2025 29 $3.2B FTV, ATKR, CARR, DAR, DVA Q2 2025 29 $3.3B DAR, CARR, ATKR, FTV, GTLS Q1 2025 29 $3.2B DAR, ATKR, FTV, CARR, RTO Q4 2024 30 $3.4B DAR, ATKR, CARR, FTV, APG Q3 2024 27 $3.5B CARR, DAR, FTV, VSTO, APG Q2 2024 30 $3.3B VSTO, CARR, CRH, RTO, KVUE Q1 2024 31 $3.4B CARR, VSTO, CRH, RTO, MBC