Bornite Capital Management LP

The portfolio is currently highly concentrated, with the top 10 positions accounting for approximately 78% of the total value. The turnover was exceptionally aggressive, characterized by a "clean slate" approach: the manager exited 26 positions and initiated 11 new ones, representing a complete overhaul of the fund's exposure. This suggests a pivot away from a previous strategy—likely focused on industrial and energy services—toward a more barbell approach balancing high-growth secular winners with specific value plays in energy and industrials.

Key Holdings