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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
+7.34%
1 Year Est. Return
+59.2%
3 Year Est. Return
+176.28%
5 Year Est. Return
+304.39%
10 Year Est. Return
–
AUM
$517M
AUM Growth
+$222M
Cap. Flow
+$196M
Cap. Flow %
37.88%
Top 10 Hldgs %
52.55%
Holding
70
New
16
Increased
12
Reduced
9
Closed
15

Top Buys

Rank Stock Value
1
CP icon
Canadian Pacific Kansas City
CP
+$24.9M
2
AMZN icon
Amazon
AMZN
+$22.8M
3
ECL icon
Ecolab
ECL
+$21.5M
4
HES
Hess
HES
+$21.2M
5
TMUS icon
T-Mobile US
TMUS
+$21.1M

Top Sells

Rank Stock Value
1
STR
Sitio Royalties
STR
+$12.8M
2
X
US Steel
X
+$11.6M
3
J icon
Jacobs Solutions
J
+$11.5M
4
HLT icon
Hilton Worldwide
HLT
+$11.3M
5
CSX icon
CSX Corp
CSX
+$11.1M

Sector Composition

Rank Sector Weight
1 Industrials 22%
2 Materials 21.28%
3 Energy 21.12%
4 Technology 15.22%
5 Consumer Discretionary 10.87%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AMZN icon
1
Amazon
AMZN
$2.94T
$39.1M 7.56%
300,000
+200,000
+200% +$22.8M
CVE icon
2
Cenovus Energy
CVE
$51.1B
$34.8M 6.73%
2,050,000
+1,000,000
+95% +$16.8M
MSFT icon
3
Microsoft
MSFT
$3.62T
$34.1M 6.58%
100,000
+65,000
+186% +$20.4M
ETN icon
4
Eaton
ETN
$174B
$26.1M 5.05%
130,000
+2,500
+2% +$440K
CP icon
5
Canadian Pacific Kansas City
CP
$80.4B
$25.4M 4.92%
+315,000
New +$24.9M
SLB icon
6
SLB Ltd
SLB
$74.1B
$25M 4.82%
508,000
+100,000
+25% +$4.77M
ECL icon
7
Ecolab
ECL
$80.3B
$23.3M 4.51%
+125,000
New +$21.5M
WCN
8
Waste Connections
WCN
$41.5B
$22.2M 4.28%
155,000
+27,000
+21% +$3.77M
HES
9
DELISTED
Hess
HES
$21.1M 4.07%
+155,000
New +$21.2M
TMUS icon
10
T-Mobile US
TMUS
$186B
$20.8M 4.03%
+150,000
New +$21.1M
TRGP icon
11
Targa Resources
TRGP
$55.8B
$19.5M 3.77%
256,000
+250,000
+4,167% +$18.1M
WH icon
12
Wyndham Hotels & Resorts
WH
$5.65B
$17.1M 3.31%
+250,000
New +$17.1M
LIN icon
13
Linde
LIN
$226B
$16.2M 3.13%
42,500
+40,000
+1,600% +$14.6M
SHW icon
14
Sherwin-Williams
SHW
$89.7B
$15.9M 3.08%
+60,000
New +$14.1M
WCC
15
WESCO International
WCC
$18.2B
$15M 2.91%
84,000
+5,700
+7% +$831K
AWK icon
16
American Water Works
AWK
$26.7B
$14.6M 2.83%
102,600
-25,000
-20% -$3.67M
NUE icon
17
Nucor
NUE
$62.6B
$13.1M 2.54%
+80,000
New +$11.7M
STLD icon
18
Steel Dynamics
STLD
$38.1B
$13.1M 2.53%
120,000
+70,000
+140% +$7.12M
WPM icon
19
Wheaton Precious Metals
WPM
$55.8B
$13M 2.51%
+300,000
New +$14.3M
DE icon
20
Deere & Co
DE
$165B
$12.8M 2.47%
31,500
+5,000
+19% +$1.91M
DHR icon
21
Danaher
DHR
$140B
$12M 2.32%
56,400
+11,280
+25% +$2.39M
FCX icon
22
Freeport-McMoran
FCX
$97.1B
$12M 2.32%
300,000
-150,000
-33% -$5.72M
CDNS icon
23
Cadence Design Systems
CDNS
$92.8B
$11.7M 2.27%
+50,000
New +$10.9M
NOW icon
24
ServiceNow
NOW
$121B
$11.2M 2.17%
+100,000
New +$10M
AMAT icon
25
Applied Materials
AMAT
$424B
$10.8M 2.1%
75,000
-5,000
-6% -$626K
1
2 3

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Bornite Capital Management's Q2 2023 Portfolio in Review

As of Q2 2023, Bornite Capital Management held 70 positions worth $517M, up 75% from $295M the previous quarter. Its ten largest holdings account for 53% of the portfolio.

Bornite Capital Management deployed $196M of net new capital in Q2 2023, opening 16 new positions and adding to 12 existing holdings. Its largest new stake was Canadian Pacific Kansas City: 315,000 shares worth $25.4M.

By sector, the portfolio is most concentrated in Industrials at 22% of assets, down from 32% a quarter earlier, followed by Materials and Energy.

On the sell side, the largest reduction was Sitio Royalties, an estimated $12.8M trimmed.

  • Bornite Capital Management's largest Q2 2023 buy was Canadian Pacific Kansas City: 315,000 shares worth $25.4M.
  • Bornite Capital Management added most to Amazon in Q2 2023, an estimated $22.8M increase.
  • Bornite Capital Management's biggest Q2 2023 reduction was Sitio Royalties, cutting an estimated $12.8M.
  • Bornite Capital Management fully exited Hilton Worldwide in Q2 2023, selling an estimated $11.3M.
  • Bornite Capital Management's ten largest holdings make up 53% of its $517M portfolio in Q2 2023.
  • Bornite Capital Management opened 16 new positions and closed 15 in Q2 2023.
  • Bornite Capital Management's portfolio value rose 75% quarter-over-quarter to $517M.

Based on Bornite Capital Management's 13F filing for Q2 2023, filed 14 Aug 2023.