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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
+10%
1 Year Est. Return
+59.2%
3 Year Est. Return
+176.28%
5 Year Est. Return
+304.39%
10 Year Est. Return
–
AUM
$384M
AUM Growth
+$30.6M
(+8.7%)
Cap. Flow
+$17M
Cap. Flow
% of AUM
4.43%
Top 10 Holdings %
Top 10 Hldgs %
42.32%
Holding
45
New
24
Increased
1
Reduced
9
Closed
9
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
SLB Ltd
SLB
|
+$19.9M |
| 2 |
Cheniere Energy
LNG
|
+$16.7M |
| 3 |
Suncor Energy
SU
|
+$16.4M |
| 4 |
The Mosaic Company
MOS
|
+$14.9M |
| 5 |
WCN
Waste Connections
WCN
|
+$13.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Cenovus Energy
CVE
|
+$50.7M |
| 2 |
HF Sinclair
DINO
|
+$28.8M |
| 3 |
Amazon
AMZN
|
+$22.6M |
| 4 |
Deere & Co
DE
|
+$22.4M |
| 5 |
Nutrien
NTR
|
+$20.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Energy | 26.31% |
| 2 | Industrials | 25.26% |
| 3 | Materials | 15.96% |
| 4 | Technology | 13.44% |
| 5 | Utilities | 7.76% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
American Water Works
AWK
$26.7B
| $7.62M | 1.99% |
+50,000
| New | +$7.22M |
|
27
Baker Hughes
BKR
$61.2B
| $7.38M | 1.92% |
+250,000
| New | +$6.9M |
|
28
Rio Tinto
RIO
$165B
| $7.12M | 1.86% |
+100,000
| New | +$6.28M |
|
29
Darling Ingredients
DAR
$9.19B
| $6.26M | 1.63% |
+100,000
| New | +$7.05M |
|
30
ServiceNow
NOW
$121B
| $5.82M | 1.52% |
+75,000
| New | +$5.86M |
|
31
Albemarle
ALB
$14B
| $5.42M | 1.41% |
+25,000
| New | +$6.66M |
|
|
32
HF Sinclair
DINO
$14.8B
| $5.19M | 1.35% |
100,000
-500,000
| -83% | -$28.8M |
|
|
GTLS
33
DELISTED
Chart Industries
GTLS
| $4.61M | 1.2% |
+40,000
| New | +$6.42M |
|
34
Snowflake
SNOW
$110B
| $3.59M | 0.94% |
25,000
-25,000
| -50% | -$3.81M |
|
|
LAC
35
DELISTED
Lithium Americas Corp. Common Shares
LAC
| $2.84M | 0.74% |
+150,000
| New | +$3.64M |
|
36
NexGen Energy
NXE
$6.73B
| $2.21M | 0.58% |
+500,000
| New | +$2.09M |
|
|
37
Amazon
AMZN
$2.94T
| – | – |
-200,000
| Closed | -$22.6M |
|
38
Algoma Steel
ASTL
$471M
| – | – |
-600,000
| Closed | -$3.86M |
|
39
CF Industries
CF
$17.9B
| – | – |
-100,000
| Closed | -$9.63M |
|
|
40
CALL
Cenovus Energy
CVE
$51.1B
| – | – |
-10,000
| Closed | -$5K |
|
|
41
Cenovus Energy
CVE
$51.1B
| – | – |
-3,300,000
| Closed | -$50.7M |
|
42
Freeport-McMoran
FCX
$97.1B
| – | – |
-300,000
| Closed | -$8.2M |
|
|
43
Nutrien
NTR
$32.1B
| – | – |
-250,000
| Closed | -$20.8M |
|
44
Phillips 66
PSX
$81.2B
| – | – |
-100,000
| Closed | -$8.07M |
|
45
Steel Dynamics
STLD
$38.1B
| – | – |
-200,000
| Closed | -$14.2M |
|
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Bornite Capital Management's Q4 2022 Portfolio in Review
As of Q4 2022, Bornite Capital Management held 45 positions worth $384M, up 8.7% from $353M the previous quarter. Its ten largest holdings account for 42% of the portfolio.
Bornite Capital Management deployed $17M of net new capital in Q4 2022, opening 24 new positions and adding to 1 existing holding. Its largest new stake was SLB Ltd: 400,000 shares worth $21.4M.
By sector, the portfolio is most concentrated in Energy at 26% of assets, up from 26% a quarter earlier, followed by Industrials and Materials.
On the sell side, the largest reduction was HF Sinclair, an estimated $28.8M trimmed.
- Bornite Capital Management's largest Q4 2022 buy was SLB Ltd: 400,000 shares worth $21.4M.
- Bornite Capital Management added most to Microsoft in Q4 2022, an estimated $6M increase.
- Bornite Capital Management's biggest Q4 2022 reduction was HF Sinclair, cutting an estimated $28.8M.
- Bornite Capital Management fully exited Cenovus Energy in Q4 2022, selling an estimated $50.7M.
- Bornite Capital Management's ten largest holdings make up 42% of its $384M portfolio in Q4 2022.
- Bornite Capital Management opened 24 new positions and closed 9 in Q4 2022.
- Bornite Capital Management's portfolio value rose 8.7% quarter-over-quarter to $384M.
Based on Bornite Capital Management's 13F filing for Q4 2022, filed 13 Feb 2023.