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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
+7.34%
1 Year Est. Return
+59.2%
3 Year Est. Return
+176.28%
5 Year Est. Return
+304.39%
10 Year Est. Return
–
AUM
$517M
AUM Growth
+$222M
Cap. Flow
+$196M
Cap. Flow %
37.88%
Top 10 Hldgs %
52.55%
Holding
70
New
16
Increased
12
Reduced
9
Closed
15

Top Buys

Rank Stock Value
1
CP icon
Canadian Pacific Kansas City
CP
+$24.9M
2
AMZN icon
Amazon
AMZN
+$22.8M
3
ECL icon
Ecolab
ECL
+$21.5M
4
HES
Hess
HES
+$21.2M
5
TMUS icon
T-Mobile US
TMUS
+$21.1M

Top Sells

Rank Stock Value
1
STR
Sitio Royalties
STR
+$12.8M
2
X
US Steel
X
+$11.6M
3
J icon
Jacobs Solutions
J
+$11.5M
4
HLT icon
Hilton Worldwide
HLT
+$11.3M
5
CSX icon
CSX Corp
CSX
+$11.1M

Sector Composition

Rank Sector Weight
1 Industrials 22%
2 Materials 21.28%
3 Energy 21.12%
4 Technology 15.22%
5 Consumer Discretionary 10.87%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CRM icon
26
Salesforce
CRM
$158B
$10.6M 2.04%
+50,000
New +$10.2M
TT icon
27
Trane Technologies
TT
$106B
$9.56M 1.85%
+50,000
New +$8.87M
CCJ icon
28
Cameco
CCJ
$41.1B
$6.27M 1.21%
+200,000
New +$5.62M
CNQ icon
29
Canadian Natural Resources
CNQ
$93.3B
$1.13M 0.22%
+40,000
New +$1.14M
CSX icon
30
CSX Corp
CSX
$94.7B
$682K 0.13%
20,000
-350,000
-95% -$11.1M
X
31
DELISTED
US Steel
X
$625K 0.12%
25,000
-500,000
-95% -$11.6M
GTLS
32
DELISTED
Chart Industries
GTLS
$559K 0.11%
3,500
– –
PWR icon
33
Quanta Services
PWR
$103B
$550K 0.11%
2,800
– –
RS icon
34
Reliance Steel & Aluminium
RS
$21.5B
$543K 0.11%
2,000
– –
CEG icon
35
Constellation Energy
CEG
$94.7B
$458K 0.09%
5,000
– –
PCG icon
36
PG&E
PCG
$37.9B
$432K 0.08%
25,000
– –
TECK icon
37
Teck Resources
TECK
$32.4B
$421K 0.08%
10,000
-5,000
-33% -$215K
DAR icon
38
Darling Ingredients
DAR
$9.19B
$415K 0.08%
6,500
– –
UNP icon
39
Union Pacific
UNP
$176B
$409K 0.08%
2,000
-3,000
-60% -$596K
CTVA icon
40
Corteva
CTVA
$52.5B
$401K 0.08%
7,000
– –
STR
41
DELISTED
Sitio Royalties
STR
$394K 0.08%
15,000
-500,000
-97% -$12.8M
J icon
42
Jacobs Solutions
J
$16.9B
$392K 0.08%
3,990
-120,897
-97% -$11.5M
LNG icon
43
Cheniere Energy
LNG
$53.4B
$381K 0.07%
2,500
– –
NEE icon
44
NextEra Energy
NEE
$179B
$371K 0.07%
5,000
– –
TS icon
45
Tenaris
TS
$28.8B
$359K 0.07%
12,000
– –
ENPH icon
46
Enphase Energy
ENPH
$5.15B
$335K 0.06%
2,000
– –
RIO icon
47
Rio Tinto
RIO
$165B
$319K 0.06%
5,000
– –
OGG
48
Osisko Gold Group Inc.
OGG
$823M
$306K 0.06%
50,000
– –
SAND
49
DELISTED
Sandstorm Gold
SAND
$256K 0.05%
50,000
– –
OR icon
50
OR Royalties Inc
OR
$6.04B
$231K 0.04%
+15,000
New +$243K
1
2
3

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Bornite Capital Management's Q2 2023 Portfolio in Review

As of Q2 2023, Bornite Capital Management held 70 positions worth $517M, up 75% from $295M the previous quarter. Its ten largest holdings account for 53% of the portfolio.

Bornite Capital Management deployed $196M of net new capital in Q2 2023, opening 16 new positions and adding to 12 existing holdings. Its largest new stake was Canadian Pacific Kansas City: 315,000 shares worth $25.4M.

By sector, the portfolio is most concentrated in Industrials at 22% of assets, down from 32% a quarter earlier, followed by Materials and Energy.

On the sell side, the largest reduction was Sitio Royalties, an estimated $12.8M trimmed.

  • Bornite Capital Management's largest Q2 2023 buy was Canadian Pacific Kansas City: 315,000 shares worth $25.4M.
  • Bornite Capital Management added most to Amazon in Q2 2023, an estimated $22.8M increase.
  • Bornite Capital Management's biggest Q2 2023 reduction was Sitio Royalties, cutting an estimated $12.8M.
  • Bornite Capital Management fully exited Hilton Worldwide in Q2 2023, selling an estimated $11.3M.
  • Bornite Capital Management's ten largest holdings make up 53% of its $517M portfolio in Q2 2023.
  • Bornite Capital Management opened 16 new positions and closed 15 in Q2 2023.
  • Bornite Capital Management's portfolio value rose 75% quarter-over-quarter to $517M.

Based on Bornite Capital Management's 13F filing for Q2 2023, filed 14 Aug 2023.