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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
+1.18%
1 Year Est. Return
+59.2%
3 Year Est. Return
+176.28%
5 Year Est. Return
+304.39%
10 Year Est. Return
–
AUM
$353M
AUM Growth
+$48.5M
(+16%)
Cap. Flow
+$67.4M
Cap. Flow
% of AUM
19.08%
Top 10 Holdings %
Top 10 Hldgs %
70.93%
Holding
31
New
15
Increased
2
Reduced
3
Closed
10
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Cenovus Energy
CVE
|
+$58.6M |
| 2 |
Amazon
AMZN
|
+$25.3M |
| 3 |
Nutrien
NTR
|
+$21.5M |
| 4 |
Danaher
DHR
|
+$20.7M |
| 5 |
Hilton Worldwide
HLT
|
+$19M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Suncor Energy
SU
|
+$35.1M |
| 2 |
Mastercard
MA
|
+$31.5M |
| 3 |
Franco-Nevada
FNV
|
+$26.3M |
| 4 |
The Mosaic Company
MOS
|
+$18.9M |
| 5 |
X
US Steel
X
|
+$17.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Industrials | 27.24% |
| 2 | Energy | 25.79% |
| 3 | Materials | 18.48% |
| 4 | Consumer Discretionary | 11.52% |
| 5 | Technology | 9% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Cenovus Energy
CVE
$51.1B
| $50.7M | 14.36% |
+3,300,000
| New | +$58.6M |
|
2
HF Sinclair
DINO
$14.8B
| $32.3M | 9.15% |
600,000
+250,000
| +71% | +$12.4M |
|
3
Deere & Co
DE
$165B
| $26.7M | 7.56% |
80,000
+30,000
| +60% | +$10.3M |
|
4
Microsoft
MSFT
$3.62T
| $23.3M | 6.59% |
100,000
-50,000
| -33% | -$13.2M |
|
|
5
Amazon
AMZN
$2.94T
| $22.6M | 6.4% |
+200,000
| New | +$25.3M |
|
|
6
Nutrien
NTR
$32.1B
| $20.8M | 5.9% |
+250,000
| New | +$21.5M |
|
|
7
Danaher
DHR
$140B
| $19.4M | 5.49% |
+84,600
| New | +$20.7M |
|
8
CSX Corp
CSX
$94.7B
| $18.6M | 5.28% |
700,000
-300,000
| -30% | -$9.32M |
|
|
9
Hilton Worldwide
HLT
$73B
| $18.1M | 5.12% |
+150,000
| New | +$19M |
|
|
WCC
10
WESCO International
WCC
$18.2B
| $17.9M | 5.07% |
+150,000
| New | +$18.8M |
|
11
Eaton
ETN
$174B
| $16.7M | 4.72% |
+125,000
| New | +$17.5M |
|
12
Jacobs Solutions
J
$16.9B
| $16.3M | 4.61% |
+181,346
| New | +$18.8M |
|
13
Steel Dynamics
STLD
$38.1B
| $14.2M | 4.02% |
+200,000
| New | +$15.1M |
|
14
CF Industries
CF
$17.9B
| $9.63M | 2.73% |
+100,000
| New | +$9.76M |
|
15
PG&E
PCG
$37.9B
| $8.75M | 2.48% |
+700,000
| New | +$8.2M |
|
|
RDUS
16
DELISTED
Radius Recycling
RDUS
| $8.54M | 2.42% |
300,000
| – | – |
|
17
Snowflake
SNOW
$110B
| $8.5M | 2.41% |
+50,000
| New | +$8.28M |
|
18
Freeport-McMoran
FCX
$97.1B
| $8.2M | 2.32% |
+300,000
| New | +$8.78M |
|
19
Phillips 66
PSX
$81.2B
| $8.07M | 2.29% |
100,000
-100,000
| -50% | -$8.52M |
|
20
Algoma Steel
ASTL
$471M
| $3.86M | 1.09% |
+600,000
| New | +$5.36M |
|
|
21
CALL
Cenovus Energy
CVE
$51.1B
| $5K | ﹤0.01% |
+10,000
| New | +$178K |
|
|
22
Franco-Nevada
FNV
$43.7B
| – | – |
-200,000
| Closed | -$26.3M |
|
23
Intuit
INTU
$89.7B
| – | – |
-30,000
| Closed | -$11.6M |
|
24
Lam Research
LRCX
$385B
| – | – |
-250,000
| Closed | -$10.7M |
|
|
25
Mastercard
MA
$500B
| – | – |
-100,000
| Closed | -$31.5M |
|
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Bornite Capital Management's Q3 2022 Portfolio in Review
As of Q3 2022, Bornite Capital Management held 31 positions worth $353M, up 16% from $305M the previous quarter. Its ten largest holdings account for 71% of the portfolio.
Bornite Capital Management deployed $67.4M of net new capital in Q3 2022, opening 15 new positions and adding to 2 existing holdings. Its largest new stake was Cenovus Energy: 3,300,000 shares worth $50.7M.
By sector, the portfolio is most concentrated in Industrials at 27% of assets, up from 14% a quarter earlier, followed by Energy and Materials.
On the sell side, the largest reduction was Microsoft, an estimated $13.2M trimmed.
- Bornite Capital Management's largest Q3 2022 buy was Cenovus Energy: 3,300,000 shares worth $50.7M.
- Bornite Capital Management added most to HF Sinclair in Q3 2022, an estimated $12.4M increase.
- Bornite Capital Management's biggest Q3 2022 reduction was Microsoft, cutting an estimated $13.2M.
- Bornite Capital Management fully exited Suncor Energy in Q3 2022, selling an estimated $35.1M.
- Bornite Capital Management's ten largest holdings make up 71% of its $353M portfolio in Q3 2022.
- Bornite Capital Management opened 15 new positions and closed 10 in Q3 2022.
- Bornite Capital Management's portfolio value rose 16% quarter-over-quarter to $353M.
Based on Bornite Capital Management's 13F filing for Q3 2022, filed 14 Nov 2022.