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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
CVE icon
1
Cenovus Energy
CVE
$51.1B
$50.4M 11.79%
3,025,100
+975,100
+48% +$17.9M
CRH icon
2
CRH
CRH
$66.5B
$41.9M 9.81%
+606,146
New +$36.6M
AMZN icon
3
Amazon
AMZN
$2.94T
$38M 8.89%
250,000
+100,000
+67% +$14M
MSFT icon
4
Microsoft
MSFT
$3.62T
$37.6M 8.8%
100,000
– –
ETN icon
5
Eaton
ETN
$174B
$36.5M 8.55%
151,710
-53,290
-26% -$11.8M
GE icon
6
GE Aerospace
GE
$396B
$35.5M 8.31%
+348,835
New +$32.3M
MCK icon
7
McKesson
MCK
$103B
$34.7M 8.12%
+75,000
New +$34.1M
WDAY icon
8
Workday
WDAY
$42.1B
$34.5M 8.07%
+125,000
New +$29.8M
FCX icon
9
Freeport-McMoran
FCX
$97.1B
$21.8M 5.09%
+511,016
New +$18.9M
VLO icon
10
Valero Energy
VLO
$87.1B
$19.9M 4.66%
+153,200
New +$19.5M
UNH icon
11
UnitedHealth
UNH
$375B
$15.8M 3.7%
+30,000
New +$16M
STLD icon
12
Steel Dynamics
STLD
$38.1B
$15.2M 3.55%
128,400
-46,600
-27% -$5.19M
ATI icon
13
ATI
ATI
$28B
$10M 2.34%
+220,000
New +$9.14M
FNV icon
14
Franco-Nevada
FNV
$43.7B
$8.17M 1.91%
+73,700
New +$8.97M
CCJ icon
15
Cameco
CCJ
$41.1B
$6.59M 1.54%
+152,900
New +$6.4M
AMAT icon
16
Applied Materials
AMAT
$424B
$6.48M 1.52%
+40,000
New +$5.88M
MDB icon
17
MongoDB
MDB
$30.3B
$6.13M 1.44%
+15,000
New +$5.69M
RBLX icon
18
Roblox
RBLX
$25.9B
$4.57M 1.07%
+100,000
New +$3.69M
NXE icon
19
NexGen Energy
NXE
$6.73B
$3.63M 0.85%
+518,500
New +$3.23M
ALB icon
20
Albemarle
ALB
$14B
– –
-3,000
Closed -$510K
AWK icon
21
American Water Works
AWK
$26.7B
– –
-2,600
Closed -$322K
CEG icon
22
Constellation Energy
CEG
$94.7B
– –
-5,000
Closed -$545K
CLF icon
23
Cleveland-Cliffs
CLF
$7.22B
– –
-400,000
Closed -$6.25M
CNQ icon
24
Canadian Natural Resources
CNQ
$93.3B
– –
-40,000
Closed -$1.29M
CP icon
25
Canadian Pacific Kansas City
CP
$80.4B
– –
-265,000
Closed -$19.7M
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.