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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
+12.48%
1 Year Est. Return
+60.32%
3 Year Est. Return
+208.32%
5 Year Est. Return
+337.49%
10 Year Est. Return
–
AUM
$595M
AUM Growth
-$430M
Cap. Flow
-$480M
Cap. Flow %
-80.68%
Top 10 Hldgs %
84.02%
Holding
34
New
6
Increased
3
Reduced
6
Closed
17

Top Buys

Rank Stock Value
1
STLD icon
Steel Dynamics
STLD
+$63.7M
2
CTRI icon
Centuri Holdings
CTRI
+$61.5M
3
DY icon
Dycom Industries
DY
+$39.5M
4
META icon
Meta Platforms (Facebook)
META
+$38.5M
5
AR icon
Antero Resources
AR
+$38M

Top Sells

Rank Stock Value
1
LNG icon
Cheniere Energy
LNG
+$69.3M
2
AMZN icon
Amazon
AMZN
+$69.2M
3
GLW icon
Corning
GLW
+$63.9M
4
GE icon
GE Aerospace
GE
+$62.9M
5
VNOM icon
Viper Energy
VNOM
+$57.9M

Sector Composition

Rank Sector Weight
1 Materials 28.4%
2 Utilities 21.56%
3 Industrials 20.66%
4 Technology 11.74%
5 Energy 10.23%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TSM icon
1
TSMC
TSM
$2.23T
$69.8M 11.74%
206,600
– –
TLN
2
Talen Energy Corp
TLN
$17.2B
$66.7M 11.21%
208,800
+2,800
+1% +$988K
STLD icon
3
Steel Dynamics
STLD
$37.3B
$63M 10.59%
+350,000
New +$63.7M
CTRI icon
4
Centuri Holdings
CTRI
$2.33B
$61.6M 10.36%
+2,109,000
New +$61.5M
CRS icon
5
Carpenter Technology
CRS
$26.6B
$52.5M 8.83%
133,200
-75,000
-36% -$27.3M
AR icon
6
Antero Resources
AR
$11.3B
$44.1M 7.42%
+1,040,000
New +$38M
SKE
7
Skeena Resources
SKE
$4.07B
$39.1M 6.57%
1,313,000
+790,000
+151% +$24.3M
DY icon
8
Dycom Industries
DY
$12.3B
$35.6M 5.99%
+105,200
New +$39.5M
META icon
9
Meta Platforms (Facebook)
META
$1.52T
$34.3M 5.77%
+60,000
New +$38.5M
PWR icon
10
Quanta Services
PWR
$101B
$32.9M 5.54%
60,000
-95,500
-61% -$49.2M
CENX icon
11
Century Aluminum
CENX
$4.59B
$31.8M 5.35%
542,000
+292,000
+117% +$14.6M
FCX icon
12
Freeport-McMoran
FCX
$93.6B
$23.5M 3.95%
400,000
-100,000
-20% -$6.04M
LNG icon
13
Cheniere Energy
LNG
$55B
$16.7M 2.81%
58,900
-300,000
-84% -$69.3M
DC icon
14
Dakota Gold
DC
$827M
$10.1M 1.7%
+2,000,000
New +$11.8M
SPOT icon
15
Spotify
SPOT
$102B
$9.7M 1.63%
20,000
– –
GE icon
16
GE Aerospace
GE
$374B
$1.82M 0.31%
6,400
-200,000
-97% -$62.9M
NAK
17
Northern Dynasty Minerals
NAK
$930M
$1.4M 0.24%
1,000,000
-4,385,000
-81% -$7.63M
AMZN icon
18
Amazon
AMZN
$2.86T
– –
-300,000
Closed -$69.2M
BAC icon
19
Bank of America
BAC
$448B
– –
-500,000
Closed -$27.5M
BALL icon
20
Ball Corp
BALL
$16.4B
– –
-700,000
Closed -$37.1M
CARR icon
21
Carrier Global
CARR
$52.2B
– –
-300,000
Closed -$15.9M
CRH icon
22
CRH
CRH
$65B
– –
-319,800
Closed -$39.9M
GFL icon
23
GFL Environmental
GFL
$15B
– –
-1,342,400
Closed -$57.7M
GLW icon
24
Corning
GLW
$137B
– –
-730,000
Closed -$63.9M
MOS icon
25
The Mosaic Company
MOS
$6.92B
– –
-300,000
Closed -$7.23M
1
2

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MTWSIF
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Bornite Capital Management's Q1 2026 Portfolio in Review

As of Q1 2026, Bornite Capital Management held 34 positions worth $595M, down 42% from $1.02B the previous quarter. Its ten largest holdings account for 84% of the portfolio.

Bornite Capital Management withdrew a net $480M in Q1 2026, closing 17 positions and reducing 6 holdings. Its most notable exit was Amazon, an estimated $69.2M position sold in full.

By sector, the portfolio is most concentrated in Materials at 28% of assets, up from 17% a quarter earlier, followed by Utilities and Industrials.

Against the trend, Bornite Capital Management opened a new position in Steel Dynamics worth $63M.

  • Bornite Capital Management's largest Q1 2026 buy was Steel Dynamics: 350,000 shares worth $63M.
  • Bornite Capital Management added most to Skeena Resources in Q1 2026, an estimated $24.3M increase.
  • Bornite Capital Management's biggest Q1 2026 reduction was Cheniere Energy, cutting an estimated $69.3M.
  • Bornite Capital Management fully exited Amazon in Q1 2026, selling an estimated $69.2M.
  • Bornite Capital Management's ten largest holdings make up 84% of its $595M portfolio in Q1 2026.
  • Bornite Capital Management opened 6 new positions and closed 17 in Q1 2026.
  • Bornite Capital Management's portfolio value fell 42% quarter-over-quarter to $595M.

Based on Bornite Capital Management's 13F filing for Q1 2026, filed 15 May 2026.