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BCM

Bornite Capital Management Portfolio holdings

AUM $595M
1-Year Est. Return 59.2%
This Fund
S&P 500
This Quarter Est. Return
+1.18%
1 Year Est. Return
+59.2%
3 Year Est. Return
+176.28%
5 Year Est. Return
+304.39%
10 Year Est. Return
–
AUM
$353M
AUM Growth
+$48.5M
Cap. Flow
+$67.4M
Cap. Flow %
19.08%
Top 10 Hldgs %
70.93%
Holding
31
New
15
Increased
2
Reduced
3
Closed
10

Top Buys

Rank Stock Value
1
CVE icon
Cenovus Energy
CVE
+$58.6M
2
AMZN icon
Amazon
AMZN
+$25.3M
3
NTR icon
Nutrien
NTR
+$21.5M
4
DHR icon
Danaher
DHR
+$20.7M
5
HLT icon
Hilton Worldwide
HLT
+$19M

Top Sells

Rank Stock Value
1
SU icon
Suncor Energy
SU
+$35.1M
2
MA icon
Mastercard
MA
+$31.5M
3
FNV icon
Franco-Nevada
FNV
+$26.3M
4
MOS icon
The Mosaic Company
MOS
+$18.9M
5
X
US Steel
X
+$17.9M

Sector Composition

Rank Sector Weight
1 Industrials 27.24%
2 Energy 25.79%
3 Materials 18.48%
4 Consumer Discretionary 11.52%
5 Technology 9%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MOS icon
26
The Mosaic Company
MOS
$7.44B
– –
-400,000
Closed -$18.9M
NOW icon
27
ServiceNow
NOW
$121B
– –
-150,000
Closed -$14.3M
SU icon
28
Suncor Energy
SU
$74.2B
– –
-1,000,000
Closed -$35.1M
WLK icon
29
Westlake Corp
WLK
$10.1B
– –
-100,000
Closed -$9.8M
X
30
DELISTED
US Steel
X
– –
-1,000,000
Closed -$17.9M
TRQ
31
DELISTED
Turquoise Hill Resources Ltd
TRQ
– –
-150,000
Closed -$4.02M
1
2

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Bornite Capital Management's Q3 2022 Portfolio in Review

As of Q3 2022, Bornite Capital Management held 31 positions worth $353M, up 16% from $305M the previous quarter. Its ten largest holdings account for 71% of the portfolio.

Bornite Capital Management deployed $67.4M of net new capital in Q3 2022, opening 15 new positions and adding to 2 existing holdings. Its largest new stake was Cenovus Energy: 3,300,000 shares worth $50.7M.

By sector, the portfolio is most concentrated in Industrials at 27% of assets, up from 14% a quarter earlier, followed by Energy and Materials.

On the sell side, the largest reduction was Microsoft, an estimated $13.2M trimmed.

  • Bornite Capital Management's largest Q3 2022 buy was Cenovus Energy: 3,300,000 shares worth $50.7M.
  • Bornite Capital Management added most to HF Sinclair in Q3 2022, an estimated $12.4M increase.
  • Bornite Capital Management's biggest Q3 2022 reduction was Microsoft, cutting an estimated $13.2M.
  • Bornite Capital Management fully exited Suncor Energy in Q3 2022, selling an estimated $35.1M.
  • Bornite Capital Management's ten largest holdings make up 71% of its $353M portfolio in Q3 2022.
  • Bornite Capital Management opened 15 new positions and closed 10 in Q3 2022.
  • Bornite Capital Management's portfolio value rose 16% quarter-over-quarter to $353M.

Based on Bornite Capital Management's 13F filing for Q3 2022, filed 14 Nov 2022.