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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
+12.85%
1 Year Est. Return
+59.2%
3 Year Est. Return
+176.28%
5 Year Est. Return
+304.39%
10 Year Est. Return
–
AUM
$566M
AUM Growth
-$41.5M
Cap. Flow
-$80.3M
Cap. Flow %
-14.19%
Top 10 Hldgs %
48.99%
Holding
63
New
24
Increased
7
Reduced
4
Closed
27

Top Buys

Rank Stock Value
1
TLN
Talen Energy Corp
TLN
+$36.8M
2
STLD icon
Steel Dynamics
STLD
+$24.3M
3
ETN icon
Eaton
ETN
+$19.7M
4
WSO icon
Watsco Inc
WSO
+$16.8M
5
KNTK icon
Kinetik
KNTK
+$15.1M

Top Sells

Rank Stock Value
1
VRN
Veren
VRN
+$39.4M
2
AMZN icon
Amazon
AMZN
+$34.7M
3
CVE icon
Cenovus Energy
CVE
+$33M
4
CDNS icon
Cadence Design Systems
CDNS
+$18.5M
5
MA icon
Mastercard
MA
+$17.6M

Sector Composition

Rank Sector Weight
1 Industrials 28.84%
2 Technology 18.35%
3 Materials 13.31%
4 Energy 12.95%
5 Utilities 8.24%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GLW icon
51
Corning
GLW
$142B
– –
-250,000
Closed -$9.71M
HLT icon
52
Hilton Worldwide
HLT
$72.3B
– –
-50,000
Closed -$10.9M
LIN icon
53
Linde
LIN
$225B
– –
-25,000
Closed -$11M
MA icon
54
Mastercard
MA
$501B
– –
-40,000
Closed -$17.6M
MCK icon
55
McKesson
MCK
$102B
– –
-20,000
Closed -$11.7M
MDU icon
56
MDU Resources
MDU
$4.31B
– –
-555,940
Closed -$7.73M
MIR icon
57
Mirion Technologies
MIR
$3.77B
– –
-1,027,600
Closed -$11M
MLM icon
58
Martin Marietta Materials
MLM
$32.8B
– –
-20,000
Closed -$10.8M
MPC icon
59
Marathon Petroleum
MPC
$81.9B
– –
-62,700
Closed -$10.9M
NEE icon
60
NextEra Energy
NEE
$175B
– –
-150,000
Closed -$10.6M
NUE icon
61
Nucor
NUE
$61.4B
– –
-100,000
Closed -$15.8M
STNG icon
62
Scorpio Tankers
STNG
$3.86B
– –
-50,000
Closed -$4.06M
VRN
63
DELISTED
Veren
VRN
– –
-5,000,000
Closed -$39.4M
1 2
3

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Bornite Capital Management's Q3 2024 Portfolio in Review

As of Q3 2024, Bornite Capital Management held 63 positions worth $566M, down 6.8% from $607M the previous quarter. Its ten largest holdings account for 49% of the portfolio.

Bornite Capital Management withdrew a net $80.3M in Q3 2024, closing 27 positions and reducing 4 holdings. Its most notable exit was Veren, an estimated $39.4M position sold in full.

By sector, the portfolio is most concentrated in Industrials at 29% of assets, up from 24% a quarter earlier, followed by Technology and Materials.

Against the trend, Bornite Capital Management opened a new position in Talen Energy Corp worth $46.6M.

  • Bornite Capital Management's largest Q3 2024 buy was Talen Energy Corp: 261,500 shares worth $46.6M.
  • Bornite Capital Management added most to Eaton in Q3 2024, an estimated $19.7M increase.
  • Bornite Capital Management's biggest Q3 2024 reduction was Amazon, cutting an estimated $34.7M.
  • Bornite Capital Management fully exited Veren in Q3 2024, selling an estimated $39.4M.
  • Bornite Capital Management's ten largest holdings make up 49% of its $566M portfolio in Q3 2024.
  • Bornite Capital Management opened 24 new positions and closed 27 in Q3 2024.
  • Bornite Capital Management's portfolio value fell 6.8% quarter-over-quarter to $566M.

Based on Bornite Capital Management's 13F filing for Q3 2024, filed 13 Nov 2024.