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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
+11.06%
1 Year Est. Return
+59.2%
3 Year Est. Return
+176.28%
5 Year Est. Return
+304.39%
10 Year Est. Return
–
AUM
$427M
AUM Growth
+$95.9M
Cap. Flow
+$69.4M
Cap. Flow %
16.24%
Top 10 Hldgs %
82.09%
Holding
59
New
14
Increased
2
Reduced
2
Closed
40

Top Buys

Rank Stock Value
1
CRH icon
CRH
CRH
+$36.6M
2
MCK icon
McKesson
MCK
+$34.1M
3
GE icon
GE Aerospace
GE
+$32.3M
4
WDAY icon
Workday
WDAY
+$29.8M
5
VLO icon
Valero Energy
VLO
+$19.5M

Top Sells

Rank Stock Value
1
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$26.2M
2
RRC icon
Range Resources
RRC
+$22.7M
3
WCC
WESCO International
WCC
+$22.1M
4
CP icon
Canadian Pacific Kansas City
CP
+$19.7M
5
ECL icon
Ecolab
ECL
+$16.9M

Sector Composition

Rank Sector Weight
1 Materials 20.36%
2 Technology 19.82%
3 Industrials 19.2%
4 Energy 18.84%
5 Healthcare 11.82%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SCCO icon
51
Southern Copper
SCCO
$166B
– –
-3,452
Closed -$241K
SLB icon
52
SLB Ltd
SLB
$76B
– –
-8,000
Closed -$466K
STR
53
DELISTED
Sitio Royalties
STR
– –
-15,000
Closed -$363K
TECK icon
54
Teck Resources
TECK
$32.7B
– –
-10,000
Closed -$431K
TRGP icon
55
Targa Resources
TRGP
$56.2B
– –
-6,000
Closed -$514K
UNP icon
56
Union Pacific
UNP
$176B
– –
-2,000
Closed -$407K
WCC
57
WESCO International
WCC
$17.9B
– –
-154,000
Closed -$22.1M
WCN
58
Waste Connections
WCN
$42.3B
– –
-5,000
Closed -$672K
X
59
DELISTED
US Steel
X
– –
-25,000
Closed -$812K
1 2
3

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Bornite Capital Management's Q4 2023 Portfolio in Review

As of Q4 2023, Bornite Capital Management held 59 positions worth $427M, up 29% from $331M the previous quarter. Its ten largest holdings account for 82% of the portfolio.

Bornite Capital Management deployed $69.4M of net new capital in Q4 2023, opening 14 new positions and adding to 2 existing holdings. Its largest new stake was CRH: 606,146 shares worth $41.9M.

By sector, the portfolio is most concentrated in Materials at 20% of assets, up from 20% a quarter earlier, followed by Technology and Industrials.

On the sell side, the largest reduction was Eaton, an estimated $11.8M trimmed.

  • Bornite Capital Management's largest Q4 2023 buy was CRH: 606,146 shares worth $41.9M.
  • Bornite Capital Management added most to Cenovus Energy in Q4 2023, an estimated $17.9M increase.
  • Bornite Capital Management's biggest Q4 2023 reduction was Eaton, cutting an estimated $11.8M.
  • Bornite Capital Management fully exited Alphabet (Google) Class A in Q4 2023, selling an estimated $26.2M.
  • Bornite Capital Management's ten largest holdings make up 82% of its $427M portfolio in Q4 2023.
  • Bornite Capital Management opened 14 new positions and closed 40 in Q4 2023.
  • Bornite Capital Management's portfolio value rose 29% quarter-over-quarter to $427M.

Based on Bornite Capital Management's 13F filing for Q4 2023, filed 14 Feb 2024.