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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
+18.95%
1 Year Est. Return
+59.2%
3 Year Est. Return
+176.28%
5 Year Est. Return
+304.39%
10 Year Est. Return
–
AUM
$999M
AUM Growth
+$611M
Cap. Flow
+$496M
Cap. Flow %
49.66%
Top 10 Hldgs %
39.24%
Holding
48
New
20
Increased
10
Reduced
5
Closed
12

Top Buys

Rank Stock Value
1
BKR icon
Baker Hughes
BKR
+$38.8M
2
SHW icon
Sherwin-Williams
SHW
+$34.6M
3
TTEK icon
Tetra Tech
TTEK
+$34.2M
4
LIN icon
Linde
LIN
+$33.4M
5
ETR icon
Entergy
ETR
+$33.1M

Top Sells

Rank Stock Value
1
VNOM icon
Viper Energy
VNOM
+$22.6M
2
T icon
AT&T
T
+$19.8M
3
NFLX icon
Netflix
NFLX
+$18.7M
4
SOBO
South Bow Corp
SOBO
+$17.1M
5
CNM icon
Core & Main
CNM
+$14.5M

Sector Composition

Rank Sector Weight
1 Industrials 33.37%
2 Materials 19.71%
3 Energy 13.4%
4 Communication Services 8.49%
5 Technology 8.08%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CYBR
26
DELISTED
CyberArk
CYBR
$24.4M 2.44%
+60,000
New +$21.9M
CAT icon
27
Caterpillar
CAT
$401B
$23.3M 2.33%
+60,000
New +$20M
GOOGL icon
28
Alphabet (Google) Class A
GOOGL
$4.43T
$17.6M 1.76%
+100,000
New +$16.4M
MPC icon
29
Marathon Petroleum
MPC
$83.6B
$16.6M 1.66%
+100,000
New +$15M
STLD icon
30
Steel Dynamics
STLD
$38.1B
$12.8M 1.28%
+100,000
New +$12.8M
SOBO
31
South Bow Corp
SOBO
$7.4B
$10.4M 1.04%
400,000
-671,000
-63% -$17.1M
BE icon
32
Bloom Energy
BE
$69B
$8.37M 0.84%
+350,000
New +$6.78M
NG icon
33
NovaGold Resources
NG
$3.02B
$8.18M 0.82%
+2,000,000
New +$7.49M
TMQ
34
Trilogy Metals
TMQ
$608M
$1.35M 0.14%
1,000,000
– –
GEV icon
35
GE Vernova
GEV
$271B
$1.11M 0.11%
2,100
-1,100
-34% -$458K
NUE icon
36
Nucor
NUE
$62.6B
$1.04M 0.1%
+8,000
New +$935K
CCJ icon
37
Cameco
CCJ
$41.1B
– –
-10,700
Closed -$440K
CNM icon
38
Core & Main
CNM
$8.71B
– –
-300,000
Closed -$14.5M
CP icon
39
Canadian Pacific Kansas City
CP
$80.4B
– –
-200,000
Closed -$14M
KNTK icon
40
Kinetik
KNTK
$3.56B
– –
-17,500
Closed -$909K
MLM icon
41
Martin Marietta Materials
MLM
$33.2B
– –
-2,000
Closed -$956K
NFLX icon
42
Netflix
NFLX
$309B
– –
-200,000
Closed -$18.7M
OR icon
43
OR Royalties Inc
OR
$6.04B
– –
-500,000
Closed -$10.6M
SBUX icon
44
Starbucks
SBUX
$121B
– –
-125,000
Closed -$12.3M
SKE
45
Skeena Resources
SKE
$3.8B
– –
-957,000
Closed -$9.58M
T icon
46
AT&T
T
$158B
– –
-700,000
Closed -$19.8M
TECK icon
47
Teck Resources
TECK
$32.4B
– –
-222,200
Closed -$8.09M
VNOM icon
48
Viper Energy
VNOM
$14.9B
– –
-500,000
Closed -$22.6M
1
2

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BWP
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TAIM
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1WCM
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ECM
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FSG
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LBIM
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Bornite Capital Management's Q2 2025 Portfolio in Review

As of Q2 2025, Bornite Capital Management held 48 positions worth $999M, up 157% from $388M the previous quarter. Its ten largest holdings account for 39% of the portfolio.

Bornite Capital Management deployed $496M of net new capital in Q2 2025, opening 20 new positions and adding to 10 existing holdings. Its largest new stake was Baker Hughes: 1,027,100 shares worth $39.4M.

By sector, the portfolio is most concentrated in Industrials at 33% of assets, up from 31% a quarter earlier, followed by Materials and Energy.

On the sell side, the largest reduction was South Bow Corp, an estimated $17.1M trimmed.

  • Bornite Capital Management's largest Q2 2025 buy was Baker Hughes: 1,027,100 shares worth $39.4M.
  • Bornite Capital Management added most to Linde in Q2 2025, an estimated $33.4M increase.
  • Bornite Capital Management's biggest Q2 2025 reduction was South Bow Corp, cutting an estimated $17.1M.
  • Bornite Capital Management fully exited Viper Energy in Q2 2025, selling an estimated $22.6M.
  • Bornite Capital Management's ten largest holdings make up 39% of its $999M portfolio in Q2 2025.
  • Bornite Capital Management opened 20 new positions and closed 12 in Q2 2025.
  • Bornite Capital Management's portfolio value rose 157% quarter-over-quarter to $999M.

Based on Bornite Capital Management's 13F filing for Q2 2025, filed 7 Aug 2025.