BC
Bornite Capital Management LP 13F Holdings & Position Changes (Q2 2026)
Bornite Capital Management LPCIK: 0001800641
High-turnover traderContrarianQuality / disciplined sizing
Total reported value
$794.6M
Reporting period: 2026-06-30 · Number of holdings: 20
Bornite Capital Management LP disclosed 20 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $794.6M and a quarterly turnover rate of 118.2%.
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Personality snowflake
- Concentration
- 22.97
- Portfolio Stability
- 100
- Momentum
- 0
- Sector conviction
- 56.87
- Diversification
- 40
- Sizing Uniformity
- 96.05
Bornite Capital Management LP's disclosed holdings carry a Herfindahl concentration index of 0.057 — mathematically equivalent to about 17 equally-sized positions, close to its 20 actual disclosed holdings. Value is spread relatively evenly across the portfolio rather than concentrated in a handful of names.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.40), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govSold out STLD
Sold out CTRI
Sold out AR
New buy AMZN
New buy HBM
New buy ASML
Holdings Map
New buyAddUnchangedTrim
* This report is exclusively curated by the AlphaSMO team. AlphaSMO is the web's most authoritative 13F / Inside Trader database, delivering precise insider trading and institutional holdings insights.
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | TLN | Talen Energy CORP | Stock-Utilities | 7.62% | -3.59% | -24.57% | |
| 2 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 7.13% | +7.13% | NEW | |
| 3 | CRS | Carpenter Technology | Stock-Industrials | 7.00% | -1.83% | -32.27% | |
| 4 | DY | Dycom Industries Inc | Stock-Industrials | 6.76% | +0.77% | +1.01% | |
| 5 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 6.43% | -5.31% | -48.24% | |
| 6 | HBM | Hudbay Minerals Inc | Stock-Other | 6.34% | +6.34% | NEW | |
| 7 | ASML | ASML Holding N.V. | Stock-Tech | 6.26% | +6.26% | NEW | |
| 8 | ETR | Entergy CORP | Stock-Utilities | 6.16% | +6.16% | NEW | |
| 9 | SKE | Skeena Resources LTD | Stock-Other | 5.43% | -1.14% | +23.43% | |
| 10 | LNG | Cheniere Energy Inc | Stock-Energy | 4.90% | +2.09% | +176.84% | |
| 11 | MA | Mastercard Inc - A | Stock-Financials | 4.85% | +4.85% | NEW | |
| 12 | VMI | Valmont Industries | Stock-Industrials | 4.75% | +4.75% | NEW | |
| 13 | MLM | Martin Marietta Materials | Stock-Materials | 4.73% | +4.73% | NEW | |
| 14 | CDNS | Cadence Design Sys Inc | Stock-Tech | 4.72% | +4.72% | NEW | |
| 15 | EQT | Eqt CORP | Stock-Energy | 4.68% | +4.68% | NEW | |
| 16 | CNM | Core & Main Inc-class A | Stock-Industrials | 4.61% | +4.61% | NEW | |
| 17 | GE | General Electric | Stock-Industrials | 3.76% | +3.45% | +1150.00% | |
| 18 | FCX | Freeport-mcmoran Inc | Stock-Materials | 3.17% | -0.78% | — | |
| 19 | PWR | Quanta Services Inc | Stock-Industrials | 0.39% | -5.15% | -92.83% | |
| 20 | ✓ | Stock-Other | 0.30% | +0.30% | NEW |
Portfolio Performance
Performance for Q3 2026
-10.9%
Performance Last 4 Quarters
+21.8%
- Stdev
- +17.2%
- Beta
- +0.97
- Alpha
- +3.2%
- Max Drawdown
- -10.9%
- Annualized Perf
- +23.4%
- Batting Avg vs S&P
- +61.1%
- Sortino
- +2.76
- Stutzer
- +0.39
- Treynor
- +0.23
- Sterling
- +1.33
- Calmar
- +2.14
- Information Ratio
- +0.22
- Tracking Error
- +11.7%
- Stdev Down
- +8.2%
- Winning Months %
- +66.7%
- Losing Months %
- +33.3%
- Best 12 Months
- +67.1%
- Worst 12 Months
- +1%
- Efficiency Ratio
- +0.59
- Sharpe
- +1.32
- Stdev Sectors
- +8.2%
- Skewness
- +0.12
- Kurtosis
- -0.65
- Upside Potential
- +4.42
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 20 | $794.6M | 100 | ||
| 2026 Q1 | 17 | $594.8M | 100 | ||
| 2025 Q4 | 28 | $1.0B | 100 | ||
| 2025 Q3 | 35 | $1.1B | 98 | ||
| 2025 Q2 | 36 | $998.8M | 0 | ||
| 2025 Q1 | 28 | $388.3M | 100 | ||
| 2024 Q4 | 35 | $743.6M | 0 | ||
| 2024 Q3 | 36 | $565.8M | 0 | ||
| 2024 Q2 | 39 | $607.3M | 0 | ||
| 2024 Q1 | 37 | $9.0B | 0 | ||
| 2023 Q4 | 19 | $427.4M | 0 | ||
| 2023 Q3 | 45 | $331.5M | 0 | ||
| 2023 Q2 | 55 | $517.4M | 0 | ||
| 2023 Q1 | 54 | $294.9M | 0 | ||
| 2022 Q4 | 36 | $383.8M | 0 | ||
| 2022 Q3 | 21 | $353.2M | 0 | ||
| 2022 Q2 | 16 | $304.7M | 0 | ||
| 2022 Q1 | 21 | $327.8M | 0 | ||
| 2021 Q4 | 19 | $289.1M | 0 | ||
| 2021 Q3 | 17 | $187.0M | 0 | ||
| 2021 Q2 | 28 | $223.7M | 0 |
Holding changes this quarter
Bornite Capital Management LP's most significant position changes for 2026-06-30: Sold out: Steel Dynamics Inc (STLD); Sold out: Centuri Holdings Inc (CTRI); New buy: Amazon.com Inc (AMZN); New buy: Hudbay Minerals Inc (HBM); New buy: ASML Holding N.V. (ASML).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | AMZN | Amazon.com Inc | +7.1% | NEW | New buy |
| 2 | HBM | Hudbay Minerals Inc | +6.3% | NEW | New buy |
| 3 | ASML | ASML Holding N.V. | +6.3% | NEW | New buy |
| 4 | ETR | Entergy CORP | +6.2% | NEW | New buy |
| 5 | MA | Mastercard Inc - A | +4.9% | NEW | New buy |
| 6 | VMI | Valmont Industries | +4.8% | NEW | New buy |
| 7 | MLM | Martin Marietta Materials | +4.7% | NEW | New buy |
| 8 | CDNS | Cadence Design Sys Inc | +4.7% | NEW | New buy |
| 9 | EQT | Eqt CORP | +4.7% | NEW | New buy |
| 10 | CNM | Core & Main Inc-class A | +4.6% | NEW | New buy |
| 11 | GE | General Electric | +3.5% | +1150.00% | Add |
| 12 | LNG | Cheniere Energy Inc | +2.1% | +176.84% | Add |
| 13 | DY | Dycom Industries Inc | +0.8% | +1.01% | Add |
| 14 | ✓ | +0.3% | NEW | New buy | |
| 15 | NAK | Northern Dynasty Minerals | -0.2% | EXIT | Sold out |
| 16 | FCX | Freeport-mcmoran Inc | -0.8% | — | Unchanged |
| 17 | SKE | Skeena Resources LTD | -1.1% | +23.43% | Add |
| 18 | SPOT | Spotify Technology S.A. | -1.6% | EXIT | Sold out |
| 19 | DC | Dakota Gold CORP | -1.7% | EXIT | Sold out |
| 20 | CRS | Carpenter Technology | -1.8% | -32.27% | Trim |
| 21 | TLN | Talen Energy CORP | -3.6% | -24.57% | Trim |
| 22 | PWR | Quanta Services Inc | -5.2% | -92.83% | Trim |
| 23 | TSM | Taiwan Semiconductor-sp Adr | -5.3% | -48.24% | Trim |
| 24 | CENX | Century Aluminum Company | -5.4% | EXIT | Sold out |
| 25 | META | Meta Platforms Inc-class A | -5.8% | EXIT | Sold out |
| 26 | AR | Antero Resources CORP | -7.4% | EXIT | Sold out |
| 27 | CTRI | Centuri Holdings Inc | -10.4% | EXIT | Sold out |
| 28 | STLD | Steel Dynamics Inc | -10.6% | EXIT | Sold out |
Filing History
FAQ
What is Bornite Capital Management LP and what type of investor is it?
Bornite Capital Management LP is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $794.6M, spread across 20 disclosed positions.
What are Bornite Capital Management LP's largest equity positions?
Based on the latest 13F filing, Bornite Capital Management LP's top holdings by market value are:
1. Talen Energy CORP (TLN) — $60.5M (7.6%)
2. Amazon.com Inc (AMZN) — $56.7M (7.1%)
3. Carpenter Technology (CRS) — $55.7M (7.0%)
4. Dycom Industries Inc (DY) — $53.7M (6.8%)
5. Taiwan Semiconductor-sp Adr (TSM) — $51.1M (6.4%)
What changes did Bornite Capital Management LP make in its most recent portfolio filing?
In the latest reported quarter, Bornite Capital Management LP made 27 notable position adjustments: 11 new positions were initiated, 4 existing holdings were added to, 4 positions were partially reduced, and 8 were completely exited. The largest of these moves: Sold out: Steel Dynamics Inc (STLD); Sold out: Centuri Holdings Inc (CTRI); New buy: Amazon.com Inc (AMZN); New buy: Hudbay Minerals Inc (HBM); New buy: ASML Holding N.V. (ASML)
What sectors does Bornite Capital Management LP focus on?
Bornite Capital Management LP is concentrated in the following sectors based on its current disclosed equity portfolio:
• Industrials: 31.0%
• Information Technology: 19.8%
• Utilities: 15.7%
• Energy: 10.9%
• Materials: 9.0%
• Consumer Discretionary: 8.1%
Investment Profile
Bornite Capital Management LP returned an annualized 23.4% over the trailing 36 months — outperforming the S&P 500 by 3.2 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.97 (roughly in line with the market) and a 61% quarterly batting average against the index.
Its portfolio is broadly diversified and fast-trading, with 31.0% of the portfolio concentrated in Industrials.
Its turnover score has risen from 0 to 100 over the past 4 quarters — a shift toward more active trading.
It has added to its SKE position over the past two quarters (+$30.7M, now $43.2M), while trimming PWR over the same stretch (-$62.5M, still holding $3.1M).
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Developer Access
Access Bornite Capital Management LP's institutional profile programmatically:
REST API
curl https://alphasmo.com/api/v1/institutions/bornite-capital-management-lpCLI
npx alphasmo institutions get bornite-capital-management-lp