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Bornite Capital Management Portfolio holdings
AUM
$698M
Turnover
55.17%
1-Year Est. Return
33.82%
This Fund
S&P 500
This Quarter Est. Return
-6.02%
1 Year Est. Return
+33.82%
3 Year Est. Return
+180.83%
5 Year Est. Return
+299.76%
10 Year Est. Return
–
AUM
$698M
AUM Growth
-$96.1M
(-12%)
Cap. Flow
-$54.6M
Cap. Flow % of AUM
Cap. Flow %
-7.81%
Top 10 Holdings %
Top 10 Hldgs %
64.26%
Holding
29
New
9
Increased
5
Reduced
6
Closed
7
Avg Time Held
0.5
years
Top 10 Avg Time Held
0.5
years
Top 20 Avg Time Held
0.5
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Quanta Services
PWR
|
+$50.7M |
| 2 |
Talen Energy Corp
TLN
|
+$39.1M |
| 3 |
Ciena
CIEN
|
+$38.6M |
| 4 |
Trane Technologies
TT
|
+$28M |
| 5 |
Linde
LIN
|
+$27.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Dycom Industries
DY
|
+$53.7M |
| 2 |
TSMC
TSM
|
+$51.1M |
| 3 |
Valmont Industries
VMI
|
+$37.7M |
| 4 |
Martin Marietta Materials
MLM
|
+$37.6M |
| 5 |
Cadence Design Systems
CDNS
|
+$37.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Materials | 24.35% |
| 2 | Industrials | 23.54% |
| 3 | Utilities | 20.05% |
| 4 | Technology | 13.9% |
| 5 | Communication Services | 7.27% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Talen Energy Corp
TLN
$16.4B
| $85.9M | 12.3% |
274,820
+117,320
| +74% | +$39.1M |
2024 Q3
8 quarters
|
|
2
Entergy
ETR
$53.1B
| $54.1M | 7.74% |
545,000
+118,600
| +28% | +$12.8M |
2026 Q2
1 quarter
|
|
|
3
Quanta Services
PWR
$90.7B
| $53.3M | 7.63% |
82,900
+78,600
| +1,828% | +$50.7M |
2024 Q2
9 quarters
|
|
4
Carpenter Technology
CRS
$14.4B
| $52.7M | 7.54% |
135,440
+45,220
| +50% | +$23M |
2025 Q2
5 quarters
|
|
5
Skeena Resources
SKE
$3.61B
| $42.3M | 6.05% |
1,576,600
-44,000
| -3% | -$1.33M |
2025 Q4
3 quarters
|
|
6
ASML
ASML
$576B
| $36.2M | 5.19% |
20,000
-5,000
| -20% | -$8.67M |
2026 Q2
1 quarter
|
|
|
7
Ciena
CIEN
$39.8B
| $35.2M | 5.04% |
+100,000
| New | +$38.6M |
2026 Q3
0 quarters
|
|
8
Hudbay
HBM
$9.5B
| $31.7M | 4.54% |
1,188,500
-944,200
| -44% | -$24.1M |
2026 Q2
1 quarter
|
|
9
Cheniere Energy
LNG
$63B
| $29.1M | 4.17% |
108,200
-54,860
| -34% | -$14.7M |
2025 Q1
6 quarters
|
|
10
GE Aerospace
GE
$344B
| $28.4M | 4.07% |
91,000
+11,000
| +14% | +$3.81M |
2025 Q4
3 quarters
|
|
11
Freeport-McMoran
FCX
$85B
| $28M | 4.01% |
400,000
| – | – |
2025 Q4
3 quarters
|
|
|
12
Trane Technologies
TT
$91.5B
| $27.5M | 3.94% |
+60,860
| New | +$28M |
2026 Q3
0 quarters
|
|
|
13
Linde
LIN
$242B
| $26.9M | 3.85% |
+56,600
| New | +$27.8M |
2026 Q3
0 quarters
|
|
14
Microsoft
MSFT
$3.89T
| $25.6M | 3.67% |
+50,000
| New | +$23.1M |
2026 Q3
0 quarters
|
|
15
Live Nation Entertainment
LYV
$42.1B
| $25.4M | 3.64% |
+150,000
| New | +$26.8M |
2026 Q3
0 quarters
|
|
16
Meta Platforms (Facebook)
META
$1.64T
| $25.4M | 3.63% |
+35,000
| New | +$21.8M |
2026 Q3
0 quarters
|
|
17
Amazon
AMZN
$2.88T
| $24.9M | 3.57% |
100,000
-137,700
| -58% | -$35M |
2026 Q2
1 quarter
|
|
18
Sherwin-Williams
SHW
$84.5B
| $22.6M | 3.24% |
+70,000
| New | +$23.7M |
2026 Q3
0 quarters
|
|
19
Mastercard
MA
$576B
| $22.1M | 3.16% |
40,000
-35,000
| -47% | -$19.7M |
2026 Q2
1 quarter
|
|
20
Albemarle
ALB
$11B
| $15.9M | 2.27% |
+150,000
| New | +$18.6M |
2026 Q3
0 quarters
|
|
21
Sinda Ltd
SIND
$1.88B
| $2.76M | 0.4% |
200,000
| – | – |
2026 Q2
1 quarter
|
|
22
Delta Air Lines
DAL
$56.7B
| $2.59M | 0.37% |
+31,000
| New | +$2.63M |
2026 Q3
0 quarters
|
|
|
23
Cadence Design Systems
CDNS
$88.6B
| – | – |
-100,000
| Closed | -$37.5M | – |
|
24
Core & Main
CNM
$8.3B
| – | – |
-759,000
| Closed | -$36.6M | – |
|
|
25
Dycom Industries
DY
$6.68B
| – | – |
-106,260
| Closed | -$53.7M | – |
|
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Bornite Capital Management's Q3 2026 Portfolio in Review
As of Q3 2026, Bornite Capital Management held 29 positions worth $698M, down 12% from $795M the previous quarter. Its ten largest holdings account for 64% of the portfolio.
Bornite Capital Management withdrew a net $54.6M in Q3 2026, closing 7 positions and reducing 6 holdings. Its most notable exit was Dycom Industries, an estimated $53.7M position sold in full.
By sector, the portfolio is most concentrated in Materials at 24% of assets, up from 20% a quarter earlier, followed by Industrials and Utilities.
Against the trend, Bornite Capital Management opened a new position in Ciena worth $35.2M.
- Bornite Capital Management's largest Q3 2026 buy was Ciena: 100,000 shares worth $35.2M.
- Bornite Capital Management added most to Quanta Services in Q3 2026, an estimated $50.7M increase.
- Bornite Capital Management's biggest Q3 2026 reduction was Amazon, cutting an estimated $35M.
- Bornite Capital Management fully exited Dycom Industries in Q3 2026, selling an estimated $53.7M.
- Bornite Capital Management's ten largest holdings make up 64% of its $698M portfolio in Q3 2026.
- Bornite Capital Management opened 9 new positions and closed 7 in Q3 2026.
- Bornite Capital Management's portfolio value fell 12% quarter-over-quarter to $698M.
Based on Bornite Capital Management's 13F filing for Q3 2026, filed 10 Nov 2026.