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BCM

Bornite Capital Management Portfolio holdings

AUM $795M
1-Year Est. Return 60.32%
This Fund
S&P 500
This Quarter Est. Return
+1.18%
1 Year Est. Return
+60.32%
3 Year Est. Return
+208.32%
5 Year Est. Return
+337.49%
10 Year Est. Return
–
AUM
$353M
AUM Growth
+$48.5M
Cap. Flow
+$67.2M
Cap. Flow %
19.03%
Top 10 Hldgs %
70.93%
Holding
31
New
15
Increased
2
Reduced
3
Closed
10

Top Buys

Rank Stock Value
1
CVE icon
Cenovus Energy
CVE
+$58.6M
2
AMZN icon
Amazon
AMZN
+$25.3M
3
NTR icon
Nutrien
NTR
+$21.5M
4
DHR icon
Danaher
DHR
+$20.7M
5
HLT icon
Hilton Worldwide
HLT
+$19M

Top Sells

Rank Stock Value
1
SU icon
Suncor Energy
SU
+$35.1M
2
MA icon
Mastercard
MA
+$31.5M
3
FNV icon
Franco-Nevada
FNV
+$26.3M
4
MOS icon
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
CVE icon
1
Cenovus Energy
CVE
$57.1B
$50.7M 14.36%
+3,300,000
New +$58.6M
DINO icon
2
HF Sinclair
DINO
$18.8B
$32.3M 9.15%
600,000
+250,000
+71% +$12.4M
DE icon
3
Deere & Co
DE
$183B
$26.7M 7.56%
80,000
+30,000
+60% +$10.3M
MSFT icon
4
Microsoft
MSFT
$3.78T
$23.3M 6.59%
100,000
-50,000
-33% -$13.2M
AMZN icon
5
Amazon
AMZN
$2.66T
$22.6M 6.4%
+200,000
New +$25.3M
NTR icon
6
Nutrien
NTR
$34B
$20.8M 5.9%
+250,000
New +$21.5M
DHR icon
7
Danaher
DHR
$159B
$19.4M 5.49%
+84,600
New +$20.7M
CSX icon
8
CSX Corp
CSX
$86.9B
$18.6M 5.28%
700,000
-300,000
-30% -$9.32M
HLT icon
9
Hilton Worldwide
HLT
$72.8B
$18.1M 5.12%
+150,000
New +$19M
WCC
10
WESCO International
WCC
$17.8B
$17.9M 5.07%
+150,000
New +$18.8M
ETN icon
11
Eaton
ETN
$168B
$16.7M 4.72%
+125,000
New +$17.5M
J icon
12
Jacobs Solutions
J
$16B
$16.3M 4.61%
+181,346
New +$18.8M
STLD icon
13
Steel Dynamics
STLD
$31.8B
$14.2M 4.02%
+200,000
New +$15.1M
CF icon
14
CF Industries
CF
$17.5B
$9.63M 2.73%
+100,000
New +$9.76M
PCG icon
15
PG&E
PCG
$36.6B
$8.75M 2.48%
+700,000
New +$8.2M
RDUS
16
DELISTED
Radius Recycling
RDUS
$8.54M 2.42%
300,000
– –
SNOW icon
17
Snowflake
SNOW
$117B
$8.5M 2.41%
+50,000
New +$8.28M
FCX icon
18
Freeport-McMoran
FCX
$102B
$8.2M 2.32%
+300,000
New +$8.78M
PSX icon
19
Phillips 66
PSX
$101B
$8.07M 2.29%
100,000
-100,000
-50% -$8.52M
ASTL icon
20
Algoma Steel
ASTL
$444M
$3.86M 1.09%
+600,000
New +$5.36M
CVE icon
21
CALL
Cenovus Energy
CVE
$57.1B
$5K ﹤0.01%
+10,000
New +$178K
FNV icon
22
Franco-Nevada
FNV
$47.8B
– –
-200,000
Closed -$26.3M
INTU icon
23
Intuit
INTU
$71.6B
– –
-30,000
Closed -$11.6M
LRCX icon
24
Lam Research
LRCX
$405B
– –
-250,000
Closed -$10.7M
MA icon
25
Mastercard
MA
$494B
– –
-100,000
Closed -$31.5M
1
2

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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 $67.2M 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.