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Gates Capital Management, Inc.

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13F filer, CIK 1312908, New York, NY

Gates Capital Management, Inc. reported $5,589,861,632 across 34 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-11-14. Its ten largest share positions make up 49.4% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001172661-25-004848

Period
2025-09-30
Reported value
$5.59B
Holdings
34
Top 10 weight
49.4%
New
2
Sold out
2

Part of the filer group Gates Capital Management, Inc.

How groups are built

Largest buys vs the previous quarter

SecurityShares changeApprox. value
RALadded+1,822,074$79.7M
AMRZadded+1,192,545$57.9M
OTISadded+352,087$32.2M
FTVadded+591,164$29M
XBP GLOBAL HOLDINGS INCnew+31,931,506$25.8M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
GTLSreduced-921,128-$184M
ESIreduced-2,448,502-$61.6M
DARreduced-1,378,064-$42.5M
CRHreduced-266,370-$31.9M
MBCreduced-1,648,476-$21.7M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q3 2025

Share positions as resolved from 13F-HR 0001172661-25-004848, largest first. % of portfolio is the value over $3,231,704,332, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
FTVFORTIVE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,811,962 shares; 2024Q4: 2,413,371 shares; 2025Q1: 2,565,459 shares; 2025Q2: 3,380,969 shares; 2025Q3: 3,972,133 shares 3,972,133$195M6.02%+591,164Timeline
ATKRATKORE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,011,580 shares; 2024Q4: 2,607,354 shares; 2025Q1: 3,265,061 shares; 2025Q2: 2,628,189 shares; 2025Q3: 2,944,048 shares 2,944,048$185M5.72%+315,859Timeline
CARRCARRIER GLOBAL CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,933,063 shares; 2024Q4: 2,933,063 shares; 2025Q1: 2,937,756 shares; 2025Q2: 2,927,506 shares; 2025Q3: 2,927,506 shares 2,927,506$175M5.41%0Timeline
DARDARLING INGREDIENTS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,985,914 shares; 2024Q4: 6,668,443 shares; 2025Q1: 7,915,560 shares; 2025Q2: 6,953,973 shares; 2025Q3: 5,575,909 shares 5,575,909$172M5.33%-1,378,064Timeline
DVADAVITA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 721,203 shares; 2024Q4: 717,507 shares; 2025Q1: 722,205 shares; 2025Q2: 1,098,980 shares; 2025Q3: 1,190,383 shares 1,190,383$158M4.89%+91,403Timeline
AMRZAMRIZE LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 1,976,759 shares; 2025Q3: 3,169,304 shares 3,169,304$154M4.76%+1,192,545Timeline
RTORENTOKIL INITIAL PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,173,168 shares; 2024Q4: 6,258,013 shares; 2025Q1: 6,615,305 shares; 2025Q2: 6,146,928 shares; 2025Q3: 5,987,619 shares 5,987,619$151M4.68%-159,309Timeline
SPGIS&P GLOBAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 287,554 shares; 2024Q4: 287,554 shares; 2025Q1: 287,554 shares; 2025Q2: 287,554 shares; 2025Q3: 287,554 shares 287,554$140M4.33%0Timeline
MBCMASTERBRAND INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 8,830,771 shares; 2024Q4: 9,489,578 shares; 2025Q1: 9,669,562 shares; 2025Q2: 12,024,816 shares; 2025Q3: 10,376,340 shares 10,376,340$137M4.23%-1,648,476Timeline
RALRALLIANT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 1,163,656 shares; 2025Q3: 2,985,730 shares 2,985,730$131M4.04%+1,822,074Timeline
CRHCRH PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,901,762 shares; 2024Q4: 1,746,995 shares; 2025Q1: 1,705,365 shares; 2025Q2: 1,333,065 shares; 2025Q3: 1,066,695 shares 1,066,695$128M3.96%-266,370Timeline
NVSTENVISTA HOLDINGS CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,078,571 shares; 2024Q4: 4,694,148 shares; 2025Q1: 5,163,745 shares; 2025Q2: 6,328,183 shares; 2025Q3: 6,222,973 shares 6,222,973$127M3.92%-105,210Timeline
PNRPENTAIR PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,430,249 shares; 2024Q4: 1,332,140 shares; 2025Q1: 1,489,233 shares; 2025Q2: 1,216,715 shares; 2025Q3: 1,080,956 shares 1,080,956$120M3.7%-135,759Timeline
VLTOVERALTO CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,206,823 shares; 2024Q4: 1,205,323 shares; 2025Q1: 1,302,294 shares; 2025Q2: 1,134,524 shares; 2025Q3: 1,036,048 shares 1,036,048$110M3.42%-98,476Timeline
TICTIC SOLUTIONS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 6,920,033 shares; 2025Q2: 7,771,068 shares; 2025Q3: 8,242,035 shares 8,242,035$110M3.39%+470,967Timeline
GLPIGAMING & LEISURE PQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,098,022 shares; 2024Q4: 2,098,022 shares; 2025Q1: 2,098,022 shares; 2025Q2: 2,588,022 shares; 2025Q3: 2,347,616 shares 2,347,616$109M3.39%-240,406Timeline
TKOTKO GROUP HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 730,363 shares; 2024Q4: 798,264 shares; 2025Q1: 595,271 shares; 2025Q2: 488,590 shares; 2025Q3: 534,946 shares 534,946$108M3.34%+46,356Timeline
ESIELEMENT SOLUTIONS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,552,030 shares; 2024Q4: 2,686,495 shares; 2025Q1: 5,424,745 shares; 2025Q2: 6,670,826 shares; 2025Q3: 4,222,324 shares 4,222,324$106M3.29%-2,448,502Timeline
OTISOTIS WORLDWIDE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 826,748 shares; 2024Q4: 761,748 shares; 2025Q1: 761,748 shares; 2025Q2: 761,748 shares; 2025Q3: 1,113,835 shares 1,113,835$102M3.15%+352,087Timeline
AWIARMSTRONG WORLD INDS INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 680,445 shares; 2024Q4: 615,445 shares; 2025Q1: 559,576 shares; 2025Q2: 559,576 shares; 2025Q3: 479,720 shares 479,720$94M2.91%-79,856Timeline
VICIVICI PPTYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,671,760 shares; 2024Q4: 3,021,760 shares; 2025Q1: 2,669,160 shares; 2025Q2: 2,669,160 shares; 2025Q3: 2,669,160 shares 2,669,160$87M2.69%0Timeline
GTXGARRETT MOTION INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 4,437,259 shares; 2025Q1: 6,795,553 shares; 2025Q2: 6,479,417 shares; 2025Q3: 6,322,622 shares 6,322,622$86.1M2.66%-156,795Timeline
APGAPI GROUP CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,847,200 shares; 2024Q4: 5,013,884 shares; 2025Q1: 4,069,841 shares; 2025Q2: 1,714,040 shares; 2025Q3: 2,123,976 shares 2,123,976$73M2.26%+409,936Timeline
WHWYNDHAM HOTELS & RESORTS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 911,713 shares; 2024Q4: 734,266 shares; 2025Q1: 630,278 shares; 2025Q2: 630,278 shares; 2025Q3: 806,778 shares 806,778$64.5M1.99%+176,500Timeline
LWLAMB WESTON HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,290,119 shares; 2024Q4: 1,345,531 shares; 2025Q1: 2,016,142 shares; 2025Q2: 1,470,125 shares; 2025Q3: 1,096,923 shares 1,096,923$63.7M1.97%-373,202Timeline
NEOGNEOGEN CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 9,156,922 shares; 2025Q2: 12,793,941 shares; 2025Q3: 10,900,452 shares 10,900,452$62.2M1.93%-1,893,489Timeline
CCSICONSENSUS CLOUD SOLUTIONS INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,597,256 shares; 2024Q4: 1,613,501 shares; 2025Q1: 1,691,368 shares; 2025Q2: 1,455,990 shares; 2025Q3: 1,371,014 shares 1,371,014$40.3M1.25%-84,976Timeline
XBP GLOBAL HOLDINGS INCXBP GLOBAL HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 31,931,506 shares 31,931,506$25.8M0.8%new
GTLSCHART INDS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 498,197 shares; 2024Q4: 480,898 shares; 2025Q1: 776,636 shares; 2025Q2: 1,013,128 shares; 2025Q3: 92,000 shares 92,000$18.4M0.57%-921,128Timeline

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

SecurityTypeAmountValueChange
XLISELECT SECTOR SPDR TR INDLput6,500,000$1B0
XLISELECT SECTOR SPDR TR INDLcall5,000,000$771M-1,000,000
XLBSELECT SECTOR SPDR TR SBI MATERIALSput3,500,000$314M0
XLBSELECT SECTOR SPDR TR SBI MATERIALScall2,750,000$246M0
DARDARLING INGREDIENTS INC Stockcall790,000$24.4Mnew

Sold out in Q3 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
CARRCARRIER GLOBAL CORPORATION1,250,000$91.5Mput
MERCMERCER INTL INC1,003,824$3.51Mshares

How Q3 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001172661-25-004848 base2025-11-14acceptance time not in the bulk data set