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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
+16.74%
1 Year Est. Return
+59.2%
3 Year Est. Return
+176.28%
5 Year Est. Return
+304.39%
10 Year Est. Return
–
AUM
$597M
AUM Growth
+$169M
Cap. Flow
+$86.5M
Cap. Flow %
14.49%
Top 10 Hldgs %
57.27%
Holding
41
New
22
Increased
4
Reduced
9
Closed
4

Top Buys

Rank Stock Value
1
OR icon
OR Royalties Inc
OR
+$30M
2
MS icon
Morgan Stanley
MS
+$22M
3
UBER icon
Uber
UBER
+$17.9M
4
WCC
WESCO International
WCC
+$16.5M
5
NVT icon
nVent Electric
NVT
+$16.1M

Top Sells

Rank Stock Value
1
ETN icon
Eaton
ETN
+$41M
2
FCX icon
Freeport-McMoran
FCX
+$21.8M
3
GE icon
GE Aerospace
GE
+$18.5M
4
MCK icon
McKesson
MCK
+$17.8M
5
STLD icon
Steel Dynamics
STLD
+$15.7M

Sector Composition

Rank Sector Weight
1 Materials 18.36%
2 Energy 17.84%
3 Technology 16.99%
4 Industrials 13.72%
5 Communication Services 8.82%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CVE icon
1
Cenovus Energy
CVE
$51.1B
$50.6M 8.48%
2,530,900
-494,200
-16% -$8.44M
AMZN icon
2
Amazon
AMZN
$2.94T
$45.1M 7.56%
250,000
– –
VLO icon
3
Valero Energy
VLO
$87.1B
$43.2M 7.24%
253,100
+99,900
+65% +$14.3M
MSFT icon
4
Microsoft
MSFT
$3.62T
$42.1M 7.05%
100,000
– –
CRH icon
5
CRH
CRH
$66.5B
$35M 5.87%
406,146
-200,000
-33% -$15.3M
OR icon
6
OR Royalties Inc
OR
$6.04B
$33.4M 5.59%
+2,032,300
New +$30M
GE icon
7
GE Aerospace
GE
$396B
$26.9M 4.51%
192,210
-156,625
-45% -$18.5M
MS icon
8
Morgan Stanley
MS
$343B
$23.5M 3.94%
+250,000
New +$22M
MCK icon
9
McKesson
MCK
$103B
$21.5M 3.6%
40,000
-35,000
-47% -$17.8M
WDAY icon
10
Workday
WDAY
$42.1B
$20.5M 3.43%
75,000
-50,000
-40% -$14.2M
UBER icon
11
Uber
UBER
$139B
$19.2M 3.23%
+250,000
New +$17.9M
NVT icon
12
nVent Electric
NVT
$26.2B
$18.9M 3.16%
+250,000
New +$16.1M
WCC
13
WESCO International
WCC
$18.2B
$17.1M 2.87%
+100,000
New +$16.5M
LYV icon
14
Live Nation Entertainment
LYV
$42.8B
$15.9M 2.66%
+150,000
New +$14.2M
GOOGL icon
15
Alphabet (Google) Class A
GOOGL
$4.43T
$15.1M 2.53%
+100,000
New +$14.3M
NUE icon
16
Nucor
NUE
$62.6B
$14.8M 2.49%
+75,000
New +$13.7M
MA icon
17
Mastercard
MA
$500B
$14.4M 2.42%
+30,000
New +$13.7M
AMAT icon
18
Applied Materials
AMAT
$424B
$13.4M 2.25%
65,000
+25,000
+63% +$4.59M
PEG icon
19
Public Service Enterprise Group
PEG
$37.7B
$13.4M 2.24%
+200,000
New +$12.2M
RGLD icon
20
Royal Gold
RGLD
$18.3B
$12.2M 2.04%
+100,000
New +$11.3M
FNV icon
21
Franco-Nevada
FNV
$43.7B
$11.9M 2%
100,000
+26,300
+36% +$2.89M
SPOT icon
22
Spotify
SPOT
$99.1B
$11.9M 1.99%
+45,000
New +$10.6M
CCJ icon
23
Cameco
CCJ
$41.1B
$10.8M 1.81%
250,000
+97,100
+64% +$4.26M
UNH icon
24
UnitedHealth
UNH
$375B
$9.89M 1.66%
20,000
-10,000
-33% -$5.08M
SPHR icon
25
Sphere Entertainment
SPHR
$5.77B
$9.82M 1.64%
+200,000
New +$8.02M
1
2

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Bornite Capital Management's Q1 2024 Portfolio in Review

As of Q1 2024, Bornite Capital Management held 41 positions worth $597M, up 40% from $427M the previous quarter. Its ten largest holdings account for 57% of the portfolio.

Bornite Capital Management deployed $86.5M of net new capital in Q1 2024, opening 22 new positions and adding to 4 existing holdings. Its largest new stake was OR Royalties Inc: 2,032,300 shares worth $33.4M.

By sector, the portfolio is most concentrated in Materials at 18% of assets, down from 20% a quarter earlier, followed by Energy and Technology.

On the sell side, the largest reduction was Eaton, an estimated $41M trimmed.

  • Bornite Capital Management's largest Q1 2024 buy was OR Royalties Inc: 2,032,300 shares worth $33.4M.
  • Bornite Capital Management added most to Valero Energy in Q1 2024, an estimated $14.3M increase.
  • Bornite Capital Management's biggest Q1 2024 reduction was Eaton, cutting an estimated $41M.
  • Bornite Capital Management fully exited Freeport-McMoran in Q1 2024, selling an estimated $21.8M.
  • Bornite Capital Management's ten largest holdings make up 57% of its $597M portfolio in Q1 2024.
  • Bornite Capital Management opened 22 new positions and closed 4 in Q1 2024.
  • Bornite Capital Management's portfolio value rose 40% quarter-over-quarter to $597M.

Based on Bornite Capital Management's 13F filing for Q1 2024, filed 15 May 2024.