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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
+3.18%
1 Year Est. Return
+59.2%
3 Year Est. Return
+176.28%
5 Year Est. Return
+304.39%
10 Year Est. Return
–
AUM
$331M
AUM Growth
-$186M
Cap. Flow
-$194M
Cap. Flow %
-58.56%
Top 10 Hldgs %
79.49%
Holding
62
New
7
Increased
4
Reduced
11
Closed
17

Top Buys

Rank Stock Value
1
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$25.9M
2
RRC icon
Range Resources
RRC
+$21.9M
3
ETN icon
Eaton
ETN
+$16.2M
4
FANG icon
Diamondback Energy
FANG
+$14.8M
5
OR icon
OR Royalties Inc
OR
+$13.7M

Top Sells

Rank Stock Value
1
SLB icon
SLB Ltd
SLB
+$29M
2
HES
Hess
HES
+$22.6M
3
WCN
Waste Connections
WCN
+$21M
4
TMUS icon
T-Mobile US
TMUS
+$20.8M
5
TRGP icon
Targa Resources
TRGP
+$20.7M

Sector Composition

Rank Sector Weight
1 Energy 29.33%
2 Industrials 26.98%
3 Materials 20.03%
4 Technology 9.53%
5 Communication Services 7.9%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ENPH icon
51
Enphase Energy
ENPH
$5.51B
– –
-2,000
Closed -$335K
FCX icon
52
Freeport-McMoran
FCX
$96.9B
– –
-300,000
Closed -$12M
NEE icon
53
NextEra Energy
NEE
$178B
– –
-5,000
Closed -$371K
NOW icon
54
ServiceNow
NOW
$129B
– –
-100,000
Closed -$11.2M
SHW icon
55
Sherwin-Williams
SHW
$89.2B
– –
-60,000
Closed -$15.9M
TMUS icon
56
T-Mobile US
TMUS
$190B
– –
-150,000
Closed -$20.8M
TS icon
57
Tenaris
TS
$26.9B
– –
-12,000
Closed -$359K
TT icon
58
Trane Technologies
TT
$106B
– –
-50,000
Closed -$9.56M
WH icon
59
Wyndham Hotels & Resorts
WH
$5.5B
– –
-250,000
Closed -$17.1M
WPM icon
60
Wheaton Precious Metals
WPM
$61B
– –
-300,000
Closed -$13M
TE
61
T1 Energy
TE
$1.66B
– –
-15,000
Closed -$140K
DEN
62
DELISTED
Denbury Inc.
DEN
– –
-2,400
Closed -$207K
1 2
3

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Bornite Capital Management's Q3 2023 Portfolio in Review

As of Q3 2023, Bornite Capital Management held 62 positions worth $331M, down 36% from $517M the previous quarter. Its ten largest holdings account for 79% of the portfolio.

Bornite Capital Management withdrew a net $194M in Q3 2023, closing 17 positions and reducing 11 holdings. Its most notable exit was T-Mobile US, an estimated $20.8M position sold in full.

By sector, the portfolio is most concentrated in Energy at 29% of assets, up from 21% a quarter earlier, followed by Industrials and Materials.

Against the trend, Bornite Capital Management opened a new position in Alphabet (Google) Class A worth $26.2M.

  • Bornite Capital Management's largest Q3 2023 buy was Alphabet (Google) Class A: 200,000 shares worth $26.2M.
  • Bornite Capital Management added most to Eaton in Q3 2023, an estimated $16.2M increase.
  • Bornite Capital Management's biggest Q3 2023 reduction was SLB Ltd, cutting an estimated $29M.
  • Bornite Capital Management fully exited T-Mobile US in Q3 2023, selling an estimated $20.8M.
  • Bornite Capital Management's ten largest holdings make up 79% of its $331M portfolio in Q3 2023.
  • Bornite Capital Management opened 7 new positions and closed 17 in Q3 2023.
  • Bornite Capital Management's portfolio value fell 36% quarter-over-quarter to $331M.

Based on Bornite Capital Management's 13F filing for Q3 2023, filed 13 Nov 2023.