Telemark Asset Management, LLC
Sector Allocation
- Technology48.7%$674.1M
- Industrials15.5%$215.1M
- Materials14.2%$196.1M
- Energy7.3%$100.7M
- Utilities5.2%$71.9M
- Healthcare4.3%$60.1M
- Consumer Discretionary3.9%$54.0M
- Consumer Staples0.9%$12.0M
AUM History
13fpro.ai/research/fund/telemark-asset-management-llc-1420816
Conviction and streaks
Diversifying · top 10 = 42.9%From the fund's last 12 quarters of 13F filings: positions held longest at size, and names it added to or trimmed several quarters running.
Largest positions — Q2 2026
NVDA
$120.1MCCJ
$91.7MNOVT
$69.0MHEI
$49.9MMRNA
$49.0MTSM
$47.8MAMZN
$47.7MGLW
$42.1MHAL
$40.7MTER
$36.3MWCN
$33.3MHEI.A
$32.2MCAT
$31.9MDOCN
$31.4MKOPN
$31.4MCLH
$29.9MPLTR
$29.2MSLB
$27.9MADI
$27.8MAMSC
$24.9M
Top 20 stock positions. Options are left out: 13F reports them at the underlying's value.
13fpro.ai/research/fund/telemark-asset-management-llc-1420816
Telemark Asset Management, LLC 13F holdings — Q2 2026
$1.4B portfolio (+27.9% QoQ) · 57 holdings · Q2 2026 13F · top 10 are 43% of the stock portfolio
$120.1M
8.7% of stocks
No changeThis quarter-0.7%Since filed10+ qtrsHeld$91.7M
6.6% of stocks
No changeThis quarter-18.7%Since filed10+ qtrsHeld$69.0M
5.0% of stocks
+13%This quarter-12.1%Since filed10+ qtrsHeld$49.9M
3.6% of stocks
No changeThis quarter-14.9%Since filed10+ qtrsHeld$49.0M
3.5% of stocks
+40%This quarter—Since filed2 qtrsHeldAIQuality19.5#2,756Est. buyEstimated buy price is Pro: unlock with a free trialAdded 2 qtrs in a row$47.8M
3.5% of stocks
No changeThis quarter+1.4%Since filed10+ qtrsHeld$47.7M
3.4% of stocks
No changeThis quarter-10.4%Since filed10+ qtrsHeld$42.1M
3.0% of stocks
-18%This quarter-19.0%Since filed9 qtrsHeld$40.7M
2.9% of stocks
No changeThis quarter+5.3%Since filed2 qtrsHeld$36.3M
2.6% of stocks
+7%This quarter-15.4%Since filed4 qtrsHeld
All holdings — Telemark Asset Management, LLC (Q2 2026)
57 disclosed positions from the Form 13F-HR on SEC EDGAR, with quarter-over-quarter share changes. Largest by value first; the ten above are not repeated.
| # | Company | Held | Source | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 11 | Waste Connections, Inc. | Utilities | $33.3M | 2.4% | 200K | +100% | 10+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 12 | HEICO CORP | Industrials | $32.2M | 2.3% | 125K | — | 10+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 13 | CATERPILLAR INC | Industrials | $31.9M | 2.3% | 30K | — | 2 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 14 | DigitalOcean Holdings, Inc. | Technology | $31.4M | 2.3% | 200K | — | 3 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 15 | KOPIN CORP | Technology | $31.4M | 2.3% | 7.00M | — | 6 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 16 | CLEAN HARBORS INC | Utilities | $29.9M | 2.2% | 100K | — | 10+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 17 | Palantir Technologies Inc. | Technology | $29.2M | 2.1% | 250K | +25% | 3 qtrsAdded 3 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 18 | SLB LIMITED/NV | Energy | $27.9M | 2.0% | 600K | — | 2 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 19 | ANALOG DEVICES INC | Technology | $27.8M | 2.0% | 70K | — | 9 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 20 | AMERICAN SUPERCONDUCTOR CORP /DE/ | Technology | $24.9M | 1.8% | 600K | — | 10+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 21 | TEXAS INSTRUMENTS INC | Technology | $23.8M | 1.7% | 80K | — | 2 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 22 | Baker Hughes Co | Energy | $22.2M | 1.6% | 400K | — | 2 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 23 | APPLIED MATERIALS INC /DE | Technology | $21.7M | 1.6% | 30K | -25% | 3 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 24 | FRANCO NEVADA Corp | Materials | $20.8M | 1.5% | 100K | — | 6 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 25 | ALLIENT INC | Technology | $20.6M | 1.5% | 200K | +33% | 3 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 26 | $ASML | ASML HOLDING NV | Technology | $19.9M | 1.4% | 10K | — | |||
| 27 | $ALM | Almonty Industries Inc. | Materials | $19.9M | 1.4% | 1.20M | — | |||
| 28 | $ANDG | Andersen Group Inc. | Industrials | $18.9M | 1.4% | 500K | — | |||
| 29 | $MOD | MODINE MANUFACTURING CO | Industrials | $18.7M | 1.4% | 70K | -13% | |||
| 30 | $GOOGL | Alphabet Inc. | Technology | $17.9M | 1.3% | 50K | — | |||
| 31 | $GRMN | GARMIN LTD | Technology | $17.8M | 1.3% | 75K | +50% | |||
| 32 | $LRCX | LAM RESEARCH CORP | Technology | $17.3M | 1.3% | 40K | -20% | |||
| 33 | $META | Meta Platforms, Inc. | Technology | $16.9M | 1.2% | 30K | — | |||
| 34 | $LPTH | LIGHTPATH TECHNOLOGIES INC | Technology | $16.8M | 1.2% | 1.02M | +166% | |||
| 35 | $BWXT | BWX Technologies, Inc. | Industrials | $15.6M | 1.1% | 80K | -20% | |||
| 36 | $ODFL | OLD DOMINION FREIGHT LINE, INC. | Industrials | $15.2M | 1.1% | 70K | New | |||
| 37 | $BV | BrightView Holdings, Inc. | Consumer Staples | $12.0M | 0.9% | 850K | — | |||
| 38 | $QBTS | D-Wave Quantum Inc. | Technology | $12.0M | 0.9% | 500K | — | |||
| 39 | $NXT | Nextpower Inc. | Technology | $11.9M | 0.9% | 100K | — | |||
| 40 | $AXON | AXON ENTERPRISE, INC. | Industrials | $11.2M | 0.8% | 20K | — | |||
| 41 | $BDSX | BIODESIX INC | Healthcare | $11.0M | 0.8% | 490K | — | |||
| 42 | $KARO | Karooooo Ltd. | Technology | $10.6M | 0.8% | 215K | — | |||
| 43 | $TWLO | TWILIO INC | Technology | $10.3M | 0.8% | 50K | — | |||
| 44 | $APP | AppLovin Corp | Technology | $10.3M | 0.7% | 20K | — | |||
| 45 | $SHOP | SHOPIFY INC. | Technology | $10.3M | 0.7% | 90K | — | |||
| 46 | $TRMB | TRIMBLE INC. | Technology | $10.2M | 0.7% | 200K | — | |||
| 47 | $HLMN | Hillman Solutions Corp. | Industrials | $9.3M | 0.7% | 1.10M | +16% | |||
| 48 | $ORA | ORMAT TECHNOLOGIES, INC. | Utilities | $8.7M | 0.6% | 80K | — | |||
| 49 | $CDXS | CODEXIS, INC. | Materials | $8.7M | 0.6% | 3.85M | — | |||
| 50 | $ROG | ROGERS CORP | Materials | $8.2M | 0.6% | 50K | New | |||
| 51 | $FLEX | FLEX LTD. | Technology | $8.1M | 0.6% | 50K | New | |||
| 52 | $KNX | Knight-Swift Transportation Holdings Inc. | Industrials | $7.8M | 0.6% | 100K | New | |||
| 53 | $ASPN | ASPEN AEROGELS INC | Consumer Discretionary | $6.3M | 0.5% | 1.00M | — | |||
| 54 | $OVV | Ovintiv Inc. | Energy | $5.3M | 0.4% | 100K | — | |||
| 55 | $NXE | NexGen Energy Ltd. | Materials | $4.7M | 0.3% | 500K | — | |||
| 56 | $PTEN | PATTERSON UTI ENERGY INC | Energy | $4.6M | 0.3% | 500K | New | |||
| 57 | $HLIO | HELIOS TECHNOLOGIES, INC. | Industrials | $4.5M | 0.3% | 50K | New |
What changed in Q2 2026
Against the previous quarter's 13F: 6 new, 9 added to, 5 trimmed, 2 sold out. Share-count changes; largest moves by dollar size first.
New positions (6)
$ODFLOLD DOMINION FREIGHT LINE, INC.$15.2M
first bought this quarter
$ROGROGERS CORP$8.2M
first bought this quarter
$FLEXFLEX LTD.$8.1M
first bought this quarter
$KNXKnight-Swift Transportation Holdings Inc.$7.8M
first bought this quarter
$PTENPATTERSON UTI ENERGY INC$4.6M
first bought this quarter
$HLIOHELIOS TECHNOLOGIES, INC.$4.5M
first bought this quarter
Added to (9)
now $33.3M · held 10+ qtrs
now $49.0M · held 2 qtrs, 2 adds in a row
$LPTHLIGHTPATH TECHNOLOGIES INC+166%
now $16.8M · held 3 qtrs
now $69.0M · held 10+ qtrs
$GRMNGARMIN LTD+50%
now $17.8M · held 10+ qtrs
now $29.2M · held 3 qtrs, 3 adds in a row
+3 more in the Excel export
Trimmed (5)
Holdings by quarter
Every 13F Telemark Asset Management, LLC has filed, 41 earlier quarters. Pick one to see what it held then.
Is it too late to follow Telemark Asset Management?
Q2 2026 13F filed with the SEC on Aug 10, 2026. Prices are closing prices as of Oct 26, 2026.
Average quality of Telemark Asset Management's top 20 holdings: 67/100 (our AI quality score, weighted by position size; 18 of the 20 are scored)
Top 10 since filing
-9.1%
Value-weighted move of the 10 largest stock positions
Turnover
3%
Last quarter; 49% over the last 4
Top 10 weight
43%
Share of the stock portfolio in its 10 largest positions
Held 4+ quarters
67%
Share of portfolio value in positions held a year or more
Highest-quality names it owns(among its 100 largest positions)
The 8 highest-scoring companies in this portfolio are a Pro feature.
How these are measured
- Moves since the quarter-end and since the filing date use our own daily closing prices, from the close on (or just before) each date to the latest close.
- Turnover is the lesser of shares bought or sold in a quarter, valued at the quarter-end prices in the 13F, divided by the average of the two quarters' stock portfolio values.
- Quarters held and add/trim streaks count back only through quarters whose filed holdings add up to the filing's own cover-page total (back to Q1 2024 for this fund). A change counts as an add or a trim when the split-adjusted share count moves by more than 1%.
- Estimate, not the fund's reported cost. For each quarter in the current holding period in which the fund's share count rose (split-adjusted), we take that quarter's average daily close and weight it by the shares added; sales do not change an average cost. Quarters where the stock's price history and the 13F's own implied price disagree by more than 2x are left out.
- Put and call option rows report the value of the underlying shares, not a position the fund paid for, so they are left out of all of the above.
Portfolio Overview
Telemark Asset Management, LLC disclosed 57 positions worth $1.4B in its Form 13F-HR for Q2 2026, led by $NVDA (NVIDIA CORP) at 8.7% of the equity portfolio, followed by $CCJ and $NOVT. During the quarter the fund opened 6 new positions and exited 2 — including a new stake in $ODFL and a full exit from $CAMT. The portfolio is most concentrated in Technology (48.7% of disclosed assets). All figures are sourced directly from Telemark Asset Management, LLC’s Form 13F-HR filing with the SEC under CIK 1420816.
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