Bornite Capital Management LP
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 13, 2026), Bornite Capital Management LP reported 28 stock positions worth $1.0 billion. Its top holding was Talen Energy (TLN) at 7.5% of the portfolio, followed by Cheniere Energy (LNG, 6.8%) and Amazon.com (AMZN, 6.8%). Compared with Q3 2025, it opened 15 new positions, sold out of 22, added to 7 and reduced 6. The biggest buy was a new position in General Electric (GE) and the biggest sale an exit from Ecolab (ECL).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001800641
- Portfolio Value
- $1.0B (Q4 2025)
- SEC Filing
- 0001800641-26-000002 ↗ filed Feb 13, 2026
Holdings Value
Holdings 28 stocks · $1.0B
| TLN Talen Energy Corp. | 7.54% | 206,000 | $77.2M | Add +32.0% |
| LNG Cheniere Energy Inc. | 6.81% | 358,900 | $69.8M | Add +229.6% |
| AMZN Amazon.com Inc. | 6.76% | 300,000 | $69.2M | Add +200.0% |
| PWR Quanta Services Inc. | 6.40% | 155,500 | $65.6M | Reduce -0.1% |
| CRS Carpenter Technology | 6.40% | 208,200 | $65.5M | Reduce -19.6% |
| GLW Corning Inc. | 6.24% | 730,000 | $63.9M | Reduce -12.1% |
| GE General Electric filed as GE AEROSPACE | 6.20% | 206,400 | $63.6M | New |
| TSM Taiwan Semiconductor-SP ADR | 6.13% | 206,600 | $62.8M | Add +106.6% |
| VNOM Viper Energy Inc. Class A | 5.65% | 1,500,000 | $57.9M | Add +50.0% |
| GFL GFL Environmental Inc.-Sub VT | 5.63% | 1,342,400 | $57.7M | Add +80.8% |
| NUE Nucor Corp. | 4.78% | 300,000 | $48.9M | New |
| CRH CRH PLC | 3.89% | 319,800 | $39.9M | Reduce -31.9% |
| BALL Ball Corp. | 3.62% | 700,000 | $37.1M | New |
| RRC Range Resources Corp. | 2.75% | 800,000 | $28.2M | New |
| UAL United Airlines Holdings Inc. | 2.73% | 250,000 | $28.0M | New |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 2.68% | 500,000 | $27.5M | New |
| FCX Freeport-McMoran Inc. | 2.48% | 500,000 | $25.4M | New |
| TECK Teck Resources Ltd.-CLS B | 2.34% | 500,000 | $23.9M | New |
| SNPS Synopsys Inc. | 1.83% | 40,000 | $18.8M | Add +60.0% |
| ROAD Construction Partners Inc. Class A | 1.59% | 150,000 | $16.3M | New |
| CARR Carrier Global Corp. | 1.55% | 300,000 | $15.9M | Reduce -40.0% |
| SKE Skeena Resources Ltd. | 1.21% | 523,000 | $12.4M | New |
| SPOT Spotify Technology SA | 1.13% | 20,000 | $11.6M | Reduce -20.0% |
| NAK Northern Dynasty Minerals | 1.04% | 5,385,000 | $10.6M | New |
| CENX Century Aluminum Company | 0.96% | 250,000 | $9.8M | New |
| TE T1 Energy Inc. | 0.81% | 1,250,000 | $8.3M | New |
| MOS The Mosaic Co. | 0.71% | 300,000 | $7.2M | New |
| WWD Woodward Inc. | 0.15% | 5,200 | $1.6M | New |
Portfolio Sells Q3 2025 → Q4 2025
| ECL Ecolab Inc. | Sold out | 0.00% | −6.36 |
| CNM Core & Main Inc. Class A | Sold out | 0.00% | −5.00 |
| CNI Canadian Natl Railway Co. | Sold out | 0.00% | −4.38 |
| DY Dycom Industries Inc. | Sold out | 0.00% | −4.06 |
| ETN Eaton Corp. PLC | Sold out | 0.00% | −3.48 |
| B Barrick Mining Corp. | Sold out | 0.00% | −3.04 |
| NFLX Netflix Inc. | Sold out | 0.00% | −2.78 |
| META Meta Platforms Inc. Class A | Sold out | 0.00% | −2.73 |
| IAG Iamgold Corp. | Sold out | 0.00% | −2.69 |
| HLT Hilton Worldwide Holdings Inc. | Sold out | 0.00% | −2.41 |
| FSLR First Solar Inc. | Sold out | 0.00% | −2.05 |
| COF Capital One Financial Corp. | Sold out | 0.00% | −1.97 |
| CVNA Carvana Co. | Sold out | 0.00% | −1.75 |
| LYV Live Nation Entertainment Inc. | Sold out | 0.00% | −1.52 |
| SHOP Shopify Inc. Class A | Sold out | 0.00% | −1.38 |
| CRH CRH PLC | Reduce -31.9% | 3.89% | −1.34 |
| MA Mastercard Inc. Class A | Sold out | 0.00% | −1.32 |
| NOW ServiceNow Inc. | Sold out | 0.00% | −1.28 |
| CARR Carrier Global Corp. | Reduce -40.0% | 1.55% | −1.22 |
| MIR Mirion Technologies Inc. | Sold out | 0.00% | −1.08 |
| SOBO South Bow Corp. | Sold out | 0.00% | −1.05 |
| SPOT Spotify Technology SA | Reduce -20.0% | 1.13% | −0.49 |
| DAR Darling Ingredients Inc. | Sold out | 0.00% | −0.29 |
| TT Trane Technologies PLC | Sold out | 0.00% | −0.22 |
| TMQ Trilogy Metals Inc. | Sold out | 0.00% | −0.20 |
| GLW Corning Inc. | Reduce -12.1% | 6.24% | −0.08 |
| PWR Quanta Services Inc. | Reduce -0.1% | 6.40% | +0.41 |
| CRS Carpenter Technology | Reduce -19.6% | 6.40% | +0.49 |
Portfolio Buys Q3 2025 → Q4 2025
| GE General Electric | New | 6.20% | +6.20 |
| NUE Nucor Corp. | New | 4.78% | +4.78 |
| AMZN Amazon.com Inc. | Add +200.0% | 6.76% | +4.72 |
| LNG Cheniere Energy Inc. | Add +229.6% | 6.81% | +4.43 |
| BALL Ball Corp. | New | 3.62% | +3.62 |
| TSM Taiwan Semiconductor-SP ADR | Add +106.6% | 6.13% | +3.53 |
| RRC Range Resources Corp. | New | 2.75% | +2.75 |
| UAL United Airlines Holdings Inc. | New | 2.73% | +2.73 |
| BAC Bank of America Corp. | New | 2.68% | +2.68 |
| FCX Freeport-McMoran Inc. | New | 2.48% | +2.48 |
| GFL GFL Environmental Inc.-Sub VT | Add +80.8% | 5.63% | +2.36 |
| TECK Teck Resources Ltd.-CLS B | New | 2.34% | +2.34 |
| VNOM Viper Energy Inc. Class A | Add +50.0% | 5.65% | +2.11 |
| ROAD Construction Partners Inc. Class A | New | 1.59% | +1.59 |
| TLN Talen Energy Corp. | Add +32.0% | 7.54% | +1.37 |
| SKE Skeena Resources Ltd. | New | 1.21% | +1.21 |
| NAK Northern Dynasty Minerals | New | 1.04% | +1.04 |
| CENX Century Aluminum Company | New | 0.96% | +0.96 |
| TE T1 Energy Inc. | New | 0.81% | +0.81 |
| MOS The Mosaic Co. | New | 0.71% | +0.71 |
| SNPS Synopsys Inc. | Add +60.0% | 1.83% | +0.69 |
| WWD Woodward Inc. | New | 0.15% | +0.15 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 20 | $794.6M | TLN, AMZN, CRS, DY, TSM |
| Q1 2026 | 17 | $594.8M | TSM, TLN, STLD, CTRI, CRS |
| Q4 2025 | 28 | $1.0B | TLN, LNG, AMZN, PWR, CRS |
| Q3 2025 | 35 | $1.1B | ECL, GLW, TLN, PWR, CRS |
| Q2 2025 | 36 | $998.8M | TLN, MIR, CRS, BKR, PWR |
| Q1 2025 | 28 | $388.3M | TLN, MIR, LNG, SOBO, GFL |
| Q4 2024 | 35 | $743.6M | TLN, STLD, MIR, WCN, GE |
| Q3 2024 | 36 | $565.8M | TLN, MSFT, ETN, GEV, STLD |
| Q2 2024 | 39 | $607.3M | CVE, AMZN, MSFT, VRN, OR |
| Q1 2024Amended | 37 | $596.7M | CVE, AMZN, VLO, MSFT, CRH |