Telemark Asset Management, LLC
Long book
$1.08B
Q1 2026
Positions
53
Top-10 weight
46%
concentration
Last quarter
+15.4%
SPY +14.8%
Turnover
37%
of book per quarter
Strategy in plain words
auto-generated from filingsTelemark Asset Management, LLC is a diversified fundamental manager, running a $1.08B US long book across 53 positions.
The portfolio is moderately concentrated (top 10 ≈ 46% of the book). The portfolio is actively managed, with meaningful quarterly turnover. Current anchor positions: NVIDIA CORP, CAMECO CORP, HALLIBURTON CO, NOVANTA INC, AMAZON.COM INC.
Over the last 9 quarters its long book ran on average 0pp per quarter ahead of the S&P 500, beating the index in 5 of 9 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+11.0%
Q2 2024
-1.0%
Q3 2024
-0.7%
Q4 2024
-13.8%
Q1 2025
+21.1%
Q2 2025
+9.0%
Q3 2025
-2.5%
Q4 2025
+2.1%
Q1 2026
+15.4%
Sector allocation
Technology 38%
Industrials 23%
Materials 14%
Energy 8%
Utilities 5%
Consumer discretionary 4%
Healthcare 3%
Other 3%
Long book by quarter
What does Telemark Asset own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| NVDA NVIDIA CORP | Technology | 600.0K | $104.6M | 9.7% | Held |
| CCJ CAMECO CORP | Materials | 900.0K | $97.7M | 9.0% | -10.0% |
| HAL HALLIBURTON CO | Energy | 1.2M | $46.8M | 4.3% | New |
| NOVT NOVANTA INC | Technology | 375.0K | $44.3M | 4.1% | Held |
| AMZN AMAZON.COM INC | Consumer discretionary | 200.0K | $41.7M | 3.9% | Held |
| HEI HEICO CORP | Industrials | 140.0K | $38.4M | 3.5% | Held |
| SLB SLB LTD | Energy | 600.0K | $30.8M | 2.9% | New |
| PLTR PALANTIR TECHNOLOGIES INC-A | Technology | 200.0K | $29.3M | 2.7% | +100.0% |
| CLH CLEAN HARBORS INC | Utilities | 100.0K | $28.7M | 2.7% | +25.0% |
| GLW CORNING INC | Industrials | 200.0K | $27.2M | 2.5% | Held |
| HEI/A HEICO CORP-CLASS A | Industrials | 125.0K | $26.4M | 2.4% | Held |
| MRNA MODERNA INC | Healthcare | 500.0K | $25.4M | 2.3% | New |
| FNV FRANCO-NEVADA CORP | Materials | 100.0K | $24.7M | 2.3% | Held |
| BKR BAKER HUGHES CO | Industrials | 400.0K | $24.4M | 2.3% | New |
| ADI ANALOG DEVICES INC | Technology | 70.0K | $22.3M | 2.1% | -17.6% |
| CAT CATERPILLAR INC | Industrials | 30.0K | $21.3M | 2.0% | New |
| TER TERADYNE INC | Technology | 70.0K | $20.8M | 1.9% | Held |
| BWXT BWX TECHNOLOGIES INC | Industrials | 100.0K | $20.4M | 1.9% | Held |
| AMSC AMERICAN SUPERCONDUCTOR CORP | Industrials | 600.0K | $20.3M | 1.9% | -3.2% |
| ALM ALMONTY INDUSTRIES INC | Materials | 1.2M | $17.4M | 1.6% | -7.7% |
| MOD MODINE MANUFACTURING CO | Industrials | 80.0K | $17.3M | 1.6% | -20.0% |
| META META PLATFORMS INC-CLASS A | Technology | 30.0K | $17.2M | 1.6% | -25.0% |
| DOCN DIGITALOCEAN HOLDINGS INC | Technology | 200.0K | $17.2M | 1.6% | Held |
| WCN WASTE CONNECTIONS INC | Utilities | 100.0K | $16.2M | 1.5% | -16.7% |
| KOPN KOPIN CORP | Technology | 7.0M | $15.8M | 1.5% | Held |
| TXN TEXAS INSTRUMENTS INC | Technology | 80.0K | $15.5M | 1.4% | New |
| GOOGL ALPHABET INC-CL A | Technology | 50.0K | $14.4M | 1.3% | Held |
| AMAT APPLIED MATERIALS INC | Technology | 40.0K | $13.7M | 1.3% | Held |
| ANDG ANDERSEN GROUP INC - A | Services media | 500.0K | $13.6M | 1.3% | +400.0% |
| ASML ASML HOLDING NV-NY REG SHS | Industrials | 10.0K | $13.2M | 1.2% | Held |
| TRMB TRIMBLE INC | Other | 200.0K | $13.0M | 1.2% | -33.3% |
| NXT NEXTPOWER INC-CL A | Technology | 100.0K | $12.1M | 1.1% | New |
| GRMN GARMIN LTD | Technology | 50.0K | $11.6M | 1.1% | Held |
| KARO KAROOOOO LTD | Technology | 215.2K | $10.7M | 1.0% | -4.4% |
| LRCX LAM RESEARCH CORP | Industrials | 50.0K | $10.7M | 1.0% | Held |
| SHOP SHOPIFY INC - CLASS A | Technology | 90.0K | $10.7M | 1.0% | -30.8% |
| CAMT CAMTEK LTD | Other | 70.0K | $10.6M | 1.0% | Held |
| BV BRIGHTVIEW HOLDINGS INC | Consumer staples | 850.0K | $10.0M | 0.9% | +30.8% |
| ORA ORMAT TECHNOLOGIES INC | Utilities | 80.0K | $9.0M | 0.8% | Held |
| ALNT ALLIENT INC | Technology | 150.0K | $8.9M | 0.8% | Held |
| AXON AXON ENTERPRISE INC | Industrials | 20.0K | $8.5M | 0.8% | Held |
| APP APPLOVIN CORP-CLASS A | Technology | 20.0K | $8.0M | 0.7% | Held |
| HLMN HILLMAN SOLUTIONS CORP | Industrials | 950.0K | $7.9M | 0.7% | Held |
| QBTS D-WAVE QUANTUM INC | Technology | 500.0K | $7.2M | 0.7% | New |
| BDSX BIODESIX INC | Healthcare | 489.8K | $7.1M | 0.7% | +49.4% |
| TWLO TWILIO INC - A | Technology | 50.0K | $6.3M | 0.6% | New |
| CDXS CODEXIS INC | Other | 3.8M | $6.3M | 0.6% | Held |
| OVV OVINTIV INC | Energy | 100.0K | $5.9M | 0.5% | New |
| NXE NEXGEN ENERGY LTD | Materials | 500.0K | $5.8M | 0.5% | New |
| LPTH LIGHTPATH TECHNOLOGIES INC-A | Technology | 385.0K | $3.9M | 0.4% | Held |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 12, 2026 | 53 | $1.08B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 11, 2026 | 56 | $1.00B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 10, 2025 | 47 | $1.05B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 12, 2025 | 49 | $1.10B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 12, 2025 | 47 | $764.3M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 10, 2025 | 54 | $1.00B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 12, 2024 | 56 | $990.3M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 9, 2024 | 58 | $1.15B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 10, 2024 | 63 | $967.7M | canonical | SEC ↗ |
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