Gates Capital Management, Inc. In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Gates Capital Management, Inc. reported 29 stock positions worth $3.2 billion . Its top holding was Fortive (FTV) at 6.0% of the portfolio, followed by Atkore (ATKR, 5.7% ) and Carrier Global (CARR, 5.4% ). Compared with Q2 2025, it opened 1 new position, sold out of 1, added to 9 and reduced 16. The biggest buy was Ralliant (RAL, shares +157% ) and the biggest sale Chart Industries (GTLS, shares −91% ).
Location New York, NY
CIK 0001312908
Portfolio Value $3.2B (Q3 2025) Holdings 29 stocks · $3.2B 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 Q2 2025 FTV Fortive Corp. 3,972,133 $194.6M Add +17.5% ATKR Atkore Inc. 2,944,048 $184.7M Add +12.0% CARR Carrier Global Corp. 2,927,506 $174.8M No change DAR Darling Ingredients Inc. 5,575,909 $172.1M Reduce -19.8% DVA Davita Inc. 1,190,383 $158.2M Add +8.3% AMRZ Amrize Ltd. 3,169,304 $153.8M Add +60.3% RTO Rentokil Initial PLC-SP ADR 5,987,619 $151.2M Reduce -2.6% SPGI S&P Global Inc. 287,554 $140.0M No change MBC Masterbrand Inc. 10,376,340 $136.7M Reduce -13.7% RAL Ralliant Corp. 2,985,730 $130.6M Add +156.6% CRH CRH PLC 1,066,695 $127.9M Reduce -20.0% NVST Envista Holdings Corp. 6,222,973 $126.8M Reduce -1.7% PNR Pentair PLC 1,080,956 $119.7M Reduce -11.2% VLTO Veralto Corp. 1,036,048 $110.5M Reduce -8.7% TIC Tic Solutions Inc. filed as ACUREN CORP 8,242,035 $109.7M Add +6.1% GLPI Gaming and Leisure Propertie 2,347,616 $109.4M Reduce -9.3% TKO Tko Group Holdings Inc. 534,946 $108.0M Add +9.5% ESI Element Solutions Inc. 4,222,324 $106.3M Reduce -36.7% OTIS Otis Worldwide Corp. 1,113,835 $101.8M Add +46.2% AWI Armstrong World Industries 479,720 $94.0M Reduce -14.3% VICI Vici Properties Inc. filed as VICI PPTYS INC 2,669,160 $87.0M No change GTX Garrett Motion Inc. 6,322,622 $86.1M Reduce -2.4% APG Api Group Corp. 2,123,976 $73.0M Reduce -17.4% WH Wyndham Hotels & Resorts Inc. 806,778 $64.5M Add +28.0% LW Lamb Weston Holdings Inc. 1,096,923 $63.7M Reduce -25.4% NEOG Neogen Corp. 10,900,452 $62.2M Reduce -14.8% CCSI Consensus Cloud Solution 1,371,014 $40.3M Reduce -5.8% XBP XBP Global Holdings Inc. 31,931,506 $25.8M New GTLS Chart Industries Inc. 92,000 $18.4M Reduce -90.9%
Options reported separately and not counted above: XLI puts ($1.0B), XLI calls ($771.1M), XLB puts ($313.7M), XLB calls ($246.5M), DAR calls ($24.4M).
Portfolio Sells Q2 2025 → Q3 2025 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 Q2 2025 % Of Portfolio Change To Portfolio ▲ GTLS Chart Industries Inc. Reduce -90.9% 0.57% −4.46 DAR Darling Ingredients Inc. Reduce -19.8% 5.33% −2.63 ESI Element Solutions Inc. Reduce -36.7% 3.29% −1.27 APG Api Group Corp. Reduce -17.4% 2.26% −0.38 LW Lamb Weston Holdings Inc. Reduce -25.4% 1.97% −0.33 GLPI Gaming and Leisure Propertie Reduce -9.3% 3.39% −0.26 MERC Mercer International Inc. Sold out 0.00% −0.11 PNR Pentair PLC Reduce -11.2% 3.70% −0.06 VLTO Veralto Corp. Reduce -8.7% 3.42% −0.04 NEOG Neogen Corp. Reduce -14.8% 1.93% +0.08 AWI Armstrong World Industries Reduce -14.3% 2.91% +0.17 NVST Envista Holdings Corp. Reduce -1.7% 3.92% +0.19 RTO Rentokil Initial PLC-SP ADR Reduce -2.6% 4.68% +0.23 CCSI Consensus Cloud Solution Reduce -5.8% 1.25% +0.23 MBC Masterbrand Inc. Reduce -13.7% 4.23% +0.26 CRH CRH PLC Reduce -20.0% 3.96% +0.27 GTX Garrett Motion Inc. Reduce -2.4% 2.66% +0.61
Portfolio Buys Q2 2025 → Q3 2025 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 Q2 2025 % Of Portfolio Change To Portfolio ▼ RAL Ralliant Corp. Add +156.6% 4.04% +2.34 AMRZ Amrize Ltd. Add +60.3% 4.76% +1.80 OTIS Otis Worldwide Corp. Add +46.2% 3.15% +0.88 TIC Tic Solutions Inc. Add +6.1% 3.39% +0.81 XBP XBP Global Holdings Inc. New 0.80% +0.80 FTV Fortive Corp. Add +17.5% 6.02% +0.70 TKO Tko Group Holdings Inc. Add +9.5% 3.34% +0.66 WH Wyndham Hotels & Resorts Inc. Add +28.0% 1.99% +0.45 DVA Davita Inc. Add +8.3% 4.89% +0.17 ATKR Atkore Inc. Add +12.0% 5.72% +0.12
Options Activity Q2 2025 → Q3 2025 Security Type Change vs Q2 2025 Underlying Shares Value ▼ XLI SS Industrial Select Sector call Reduce -16.7% 5,000,000 $771.1M CARR Carrier Global Corp. put Sold out 1,250,000 $91.5Mbefore exit DAR Darling Ingredients Inc. call New 790,000 $24.4M
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