Bornite Capital operates as a fundamental, global equity long/short fund with a flexible mandate, primarily focusing on cyclical equities, especially in commodity-related sectors. By blending a long-term investment approach with active management and flexible portfolio construction, Bornite aims to optimize returns while mitigating the risk of permanent capital loss. The firm strategically targets opportunities arising from significant market disruption and transitions, such as the industrial technology shift toward a net-zero carbon environment and the growing demand for commodities to power the global economy's electrification.
Daniel A. Dreyfus serves as the Owner of Bornite Capital Management LP, which he established in January 2019. With over 19 years of investment experience, he possesses a diverse skill set, including fundamentally driven long/short strategies, capital structure arbitrage, distressed investing, merger arbitrage, and broader portfolio management. In 2013, Mr. Dreyfus joined 3G Capital to manage a commodities and industrials specialized equity and credit hedge fund. Prior to this role, he was part of the Goldman Sachs Principal Strategies Group within the Equities Division, where he focused on North American business investments, starting in 2000.
In 2008, Mr. Dreyfus and a team of investors launched Goldman Sachs Investment Partners, the Asset Management Division’s flagship long/short hedge fund. He commenced his career in 1998 as an analyst in the Investment Banking Division at Donaldson, Lufkin & Jenrette, covering the Natural Resources sector. Additionally, he interned at BMO Nesbitt Burns in the Equity Research department, focusing on gold mining stocks in 1997. Mr. Dreyfus earned his Bachelor of Commerce degree from McGill University in 1998.
Bornite Capital Management manages assets totaling $923,719,332 for its clientele, as per the latest Form ADV from April 2023. In their most recent 13F filing for Q4 2023, they disclosed holdings of $427,381,194 in managed 13F securities, showcasing a strategic focus on their investment selections. The firm has a top 10 holdings concentration of 82.09%. Their largest holding is in Cenovus Energy Inc., with a substantial 3,025,100 shares held.
| Fund Name: | Bornite Capital |
| Manager | Daniel A. Dreyfus |
| Portfolio Value | $388,321,539 |
| Change This QTR | +0.52% |
| No. | Security | Ticker | Shares | Value | Activity | % Port | History |
|---|---|---|---|---|---|---|---|
| 1. | TLN | 204,700 | $40,872,449 | -3% | 10.53% | ||
| 2. | MIR | 2,064,300 | $29,932,350 | -3% | 7.71% | ||
| 3. | LNG | 129,300 | $29,920,020 | NEW | 7.7% | ||
| 4. | SOBO | 1,071,000 | $27,331,920 | -2% | 7.04% | ||
| 5. | GFL | 539,700 | $26,072,907 | NEW | 6.71% |
