CIK: 0001420816
Total reported value
$1.1B
Reporting period: 2026-03-31 · Number of holdings: 53
Telemark Asset Management, LLC disclosed 53 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $1.1B and a quarterly turnover rate of 51.6%.
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Telemark Asset Management, LLC's disclosed holdings carry a Herfindahl concentration index of 0.035 — mathematically equivalent to about 28 equally-sized positions, well below its 53 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.95), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Trim NVDA
0.0% -$7.3M
Trim TRMB
-33.3% -$10.5M
Trim SHOP
-30.8% -$10.3M
Trim META
-25.0% -$9.2M
Add ANDG
+400.0% $11.0M
Trim HEI
0.0% -$6.9M
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | NVDA | Nvidia CORP | Stock-Tech | 9.67% | -1.51% | — | |
| 2 | CCJ | Cameco CORP | Stock-Energy | 9.04% | -0.10% | -10.00% | |
| 3 | HAL | Halliburton Co | Stock-Energy | 4.33% | +4.33% | NEW | |
| 4 | NOVT | Novanta INC | Stock-Other | 4.09% | — | — | |
| 5 | AMZN | Amazon.com INC | Stock-Consumer Disc | 3.85% | -0.76% | — | |
| 6 | HEI | Heico CORP | Stock-Industrials | 3.55% | -0.97% | — | |
| 7 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 3.12% | +0.08% | — | |
| 8 | SLB | Slb LTD | Stock-Energy | 2.85% | +2.85% | NEW | |
| 9 | PLTR | Palantir Technologies Inc-a | Stock-Tech | 2.70% | +0.92% | +100.00% | |
| 10 | CLH | Clean Harbors INC | Stock-Industrials | 2.65% | +0.78% | +25.00% | |
| 11 | GLW | Corning INC | Stock-Tech | 2.51% | +0.76% | — | |
| 12 | HEI-A | Heico Corp-class A | Stock-Other | 2.44% | -0.71% | — | |
| 13 | MRNA | Moderna INC | Stock-Healthcare | 2.35% | +2.35% | NEW | |
| 14 | FNV | Franco-nevada CORP | Stock-Materials | 2.28% | +0.21% | — | |
| 15 | BKR | Baker Hughes Co | Stock-Energy | 2.26% | +2.26% | NEW | |
| 16 | ADI | Analog Devices INC | Stock-Tech | 2.06% | — | -17.65% | |
| 17 | CAT | Caterpillar INC | Stock-Industrials | 1.96% | +1.96% | NEW | |
| 18 | TER | Teradyne INC | Stock-Tech | 1.92% | +0.57% | — | |
| 19 | BWXT | Bwx Technologies INC | Stock-Industrials | 1.89% | +0.16% | — | |
| 20 | AMSC | American Superconductor CORP | Stock-Other | 1.88% | — | -3.21% | |
| 21 | ALM | Almonty Industries INC | Stock-Other | 1.61% | +0.47% | -7.69% | |
| 22 | MOD | Modine Manufacturing Co | Stock-Consumer Disc | 1.60% | +0.27% | -20.00% | |
| 23 | META | Meta Platforms Inc-class A | Stock-Comm Services | 1.59% | -1.05% | -25.00% | |
| 24 | DOCN | Digitalocean Holdings INC | Stock-Tech | 1.59% | +0.63% | — | |
| 25 | WCN | Waste Connections INC | Stock-Industrials | 1.50% | -0.60% | -16.67% | |
| 26 | KOPN | Kopin CORP | Stock-Other | 1.46% | — | — | |
| 27 | TXN | Texas Instruments INC | Stock-Tech | 1.44% | +1.44% | NEW | |
| 28 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 1.33% | — | — | |
| 29 | AMAT | Applied Materials INC | Stock-Tech | 1.26% | +0.23% | — | |
| 30 | ANDG | Andersen Group INC - A | Stock-Other | 1.26% | +1.00% | +400.00% | |
| 31 | ASML | ASML Holding N.V. | Stock-Tech | 1.22% | — | — | |
| 32 | TRMB | Trimble INC | Stock-Tech | 1.21% | -1.14% | -33.33% | |
| 33 | NXT | Nextpower Inc-cl A | Stock-Tech | 1.11% | +1.11% | NEW | |
| 34 | GRMN | Garmin Ltd. | Stock-Tech | 1.07% | — | — | |
| 35 | ✓ | Karooooo LTD | Stock-Other | 0.99% | — | -4.44% | |
| 36 | LRCX | Lam Research CORP | Stock-Tech | 0.99% | — | — | |
| 37 | SHOP | Shopify INC - Class A | Stock-Tech | 0.99% | -1.10% | -30.77% | |
| 38 | CAMT | Camtek Ltd. | Stock-Other | 0.98% | +0.24% | — | |
| 39 | BV | Brightview Holdings INC | Stock-Other | 0.93% | — | +30.77% | |
| 40 | ORA | Ormat Technologies INC | Stock-Utilities | 0.83% | — | — | |
| 41 | ALNT | Allient INC | Stock-Other | 0.82% | — | — | |
| 42 | AXON | Axon Enterprise INC | Stock-Industrials | 0.79% | -0.34% | — | |
| 43 | APP | Applovin Corp-class A | Stock-Tech | 0.74% | -0.61% | — | |
| 44 | HLMN | Hillman Solutions CORP | Stock-Other | 0.73% | — | — | |
| 45 | QBTS | D-wave Quantum INC | Stock-Tech | 0.67% | +0.67% | NEW | |
| 46 | BDSX | Biodesix INC | Stock-Other | 0.66% | +0.44% | +49.42% | |
| 47 | TWLO | Twilio INC - A | Stock-Tech | 0.58% | +0.58% | NEW | |
| 48 | CDXS | Codexis INC | Stock-Other | 0.58% | — | — | |
| 49 | OVV | Ovintiv INC | Stock-Energy | 0.55% | +0.55% | NEW | |
| 50 | NXE | Nexgen Energy LTD | Stock-Other | 0.54% | +0.54% | NEW |
Performance for Q3 2026
-3.9%
Performance Last 4 Quarters
+9.5%
Based on 84% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 53 | $1.1B | 52 | |
| 2025-12-31 | 56 | $1.0B | 46 | |
| 2025-09-30 | 47 | $1.1B | 49 | |
| 2025-06-30 | 49 | $1.1B | 0 | |
| 2025-03-31 | 47 | $764.3M | 100 | |
| 2024-12-31 | 54 | $1.0B | 0 | |
| 2024-09-30 | 56 | $990.3M | 0 | |
| 2024-06-30 | 58 | $1.1B | 0 | |
| 2024-03-31 | 63 | $967.7M | 0 | |
| 2023-12-31 | 47 | $671.4M | 0 | |
| 2023-09-30 | 48 | $659.1M | 0 | |
| 2023-06-30 | 49 | $737.2M | 0 | |
| 2023-03-31 | 43 | $673.3M | 0 | |
| 2022-12-31 | 38 | $659.4M | 0 | |
| 2022-09-30 | 39 | $637.0M | 0 | |
| 2022-06-30 | 39 | $591.2M | 0 | |
| 2022-03-31 | 55 | $1.1B | 0 | |
| 2021-12-31 | 52 | $1.4B | 0 | |
| 2021-09-30 | 56 | $1.4B | 0 | |
| 2021-06-30 | 68 | $1.3B | 100 | |
| 2021-03-31 | 64 | $1.2B | 58 | |
| 2020-12-31 | 52 | $964.5M | 65 | |
| 2020-09-30 | 59 | $827.2M | 55 | |
| 2020-06-30 | 56 | $631.7M | 68 | |
| 2020-03-31 | 46 | $419.2M | 94 | |
| 2019-12-31 | 50 | $690.0M | 61 | |
| 2019-09-30 | 38 | $639.4M | 65 | |
| 2019-06-30 | 41 | $872.0M | 67 | |
| 2019-03-31 | 37 | $791.6M | 67 | |
| 2018-12-31 | 24 | $486.8M | 89 | |
| 2018-09-30 | 39 | $802.4M | 58 | |
| 2018-06-30 | 55 | $794.6M | 71 | |
| 2018-03-31 | 57 | $685.4M | 53 | |
| 2017-12-31 | 41 | $510.1M | 61 | |
| 2017-09-30 | 43 | $486.4M | 40 | |
| 2017-06-30 | 43 | $462.8M | 49 | |
| 2017-03-31 | 44 | $424.8M | 55 | |
| 2016-12-31 | 45 | $458.2M | 85 | |
| 2016-09-30 | 36 | $482.1M | 34 | |
| 2016-06-30 | 34 | $434.7M | 55 | |
| 2016-03-31 | 31 | $403.8M | 81 | |
| 2015-12-31 | 27 | $426.9M | 61 | |
| 2015-09-30 | 21 | $326.9M | 87 | |
| 2015-06-30 | 31 | $378.8M | 48 | |
| 2015-03-31 | 27 | $357.9M | 52 | |
| 2014-12-31 | 30 | $339.1M | 48 | |
| 2014-09-30 | 37 | $374.1M | 63 | |
| 2014-06-30 | 43 | $365.7M | 86 | |
| 2014-03-31 | 45 | $396.7M | 68 | |
| 2013-12-31 | 56 | $403.8M | 52 | |
| 2013-09-30 | 50 | $335.9M | 99 | |
| 2013-06-30 | 39 | $263.0M | — |
Telemark Asset Management, LLC's most significant position changes for 2026-03-31: New buy: Halliburton Co (HAL); New buy: Slb LTD (SLB); New buy: Moderna INC (MRNA); New buy: Baker Hughes Co (BKR); Sold out: Microchip Technology INC (MCHP).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | ANDG | Andersen Group INC - A | +1% | +400.00% | Add |
| 2 | PLTR | Palantir Technologies Inc-a | +0.9% | +100.00% | Add |
| 3 | CLH | Clean Harbors INC | +0.8% | +25.00% | Add |
| 4 | GLW | Corning INC | +0.8% | — | Unchanged |
| 5 | DOCN | Digitalocean Holdings INC | +0.6% | — | Unchanged |
| 6 | TER | Teradyne INC | +0.6% | — | Unchanged |
| 7 | ALM | Almonty Industries INC | +0.5% | -7.69% | Trim |
| 8 | BDSX | Biodesix INC | +0.4% | +49.42% | Add |
| 9 | MOD | Modine Manufacturing Co | +0.3% | -20.00% | Trim |
| 10 | CAMT | Camtek Ltd. | +0.2% | — | Unchanged |
| 11 | AMAT | Applied Materials INC | +0.2% | — | Unchanged |
| 12 | FNV | Franco-nevada CORP | +0.2% | — | Unchanged |
| 13 | BWXT | Bwx Technologies INC | +0.2% | — | Unchanged |
| 14 | TSM | Taiwan Semiconductor-sp Adr | +0.1% | — | Unchanged |
| 15 | CCJ | Cameco CORP | -0.1% | -10.00% | Trim |
| 16 | AXON | Axon Enterprise INC | -0.3% | — | Unchanged |
| 17 | WCN | Waste Connections INC | -0.6% | -16.67% | Trim |
| 18 | APP | Applovin Corp-class A | -0.6% | — | Unchanged |
| 19 | HEI-A | Heico Corp-class A | -0.7% | — | Unchanged |
| 20 | AMZN | Amazon.com INC | -0.8% | — | Unchanged |
| 21 | HEI | Heico CORP | -1% | — | Unchanged |
| 22 | META | Meta Platforms Inc-class A | -1.1% | -25.00% | Trim |
| 23 | SHOP | Shopify INC - Class A | -1.1% | -30.77% | Trim |
| 24 | TRMB | Trimble INC | -1.1% | -33.33% | Trim |
| 25 | NVDA | Nvidia CORP | -1.5% | — | Unchanged |
| 26 | HAL | Halliburton Co | — | NEW | New buy |
| 27 | SLB | Slb LTD | — | NEW | New buy |
| 28 | MRNA | Moderna INC | — | NEW | New buy |
| 29 | BKR | Baker Hughes Co | — | NEW | New buy |
| 30 | MCHP | Microchip Technology INC | — | EXIT | Sold out |
| 31 | CAT | Caterpillar INC | — | NEW | New buy |
| 32 | MDB | Mongodb INC | — | EXIT | Sold out |
| 33 | EQT | Eqt CORP | — | EXIT | Sold out |
| 34 | TXN | Texas Instruments INC | — | NEW | New buy |
| 35 | MSFT | Microsoft CORP | — | EXIT | Sold out |
| 36 | FSLR | First Solar INC | — | EXIT | Sold out |
| 37 | WGS | Genedx Holdings CORP | — | EXIT | Sold out |
| 38 | SHLS | Shoals Technologies Group -a | — | EXIT | Sold out |
| 39 | NXT | Nextpower Inc-cl A | — | NEW | New buy |
| 40 | MIR | Mirion Technologies INC | — | EXIT | Sold out |
| 41 | RRC | Range Resources CORP | — | EXIT | Sold out |
| 42 | QBTS | D-wave Quantum INC | — | NEW | New buy |
| 43 | CLBT | Cellebrite DI Ltd. | — | EXIT | Sold out |
| 44 | TWLO | Twilio INC - A | — | NEW | New buy |
| 45 | OVV | Ovintiv INC | — | NEW | New buy |
| 46 | NXE | Nexgen Energy LTD | — | NEW | New buy |
| 47 | BETA | Beta Technologies INC -cl A | — | EXIT | Sold out |
| 48 | ARM | Arm Holdings Plc-adr | — | EXIT | Sold out |
| 49 | ASPI | Asp Isotopes INC | — | EXIT | Sold out |
| 50 | RIVN | Rivian Automotive Inc-a | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-12 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-11 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-10 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-12 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-12 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-10 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-12 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-09 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-10 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-12 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-09 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-10 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-11 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-10 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-10 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-11 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-11 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-10 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-12 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-08-10 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-05-12 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-11 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-11-12 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-08-12 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-05-12 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-02-12 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-11-14 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-08-14 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-05-13 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-02-13 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-11-13 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-08-13 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-05-14 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-02-13 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-11-13 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-08-14 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-05-12 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-02-13 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-11-14 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-08-12 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-05-12 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-02-10 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-11-02 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-08-10 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-05-14 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-02-12 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2014-11-14 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2014-08-14 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2014-05-14 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2014-02-14 | 13F-HR | View on EDGAR |
| 2013-09-30 | 2013-11-12 | 13F-HR | View on EDGAR |
| 2013-06-30 | 2013-08-08 | 13F-HR | View on EDGAR |
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