Telemark Asset Management’s Franco-Nevada FNV Stock Holding History

Telemark Asset Management’s Portfolio FNV Stock Details FNV Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2026 Q1	$24.7M	Hold	100,000	–	–	2.28%	14
2025 Q4	$20.7M	Sell	100,000 -50,000	-33%	-$10.1M	2.07%	14
2025 Q3	$33.4M	Buy	150,000 +50,000	+50%	+$9.01M	3.17%	9
2025 Q2	$16.4M	Hold	100,000	–	–	1.74%	22
2025 Q1	$15.8M	Buy	+100,000	New	+$14M	2.06%	19
2024 Q4	–	Sell	-50,000	Closed	-$6.21M	–	60
2024 Q3	$6.21M	Buy	50,000 +20,000	+67%	+$2.48M	0.63%	46
2024 Q2	$3.56M	Buy	+30,000	New	+$3.65M	0.32%	56
2023 Q4	–	Sell	-180,000	Closed	-$24M	–	52
2023 Q3	$24M	Sell	180,000 -45,000	-20%	-$6.36M	3.65%	8
2023 Q2	$32.1M	Sell	225,000 -25,000	-10%	-$3.75M	4.35%	5
2023 Q1	$36.5M	Buy	250,000 +30,000	+14%	+$4.18M	5.41%	3
2022 Q4	$30M	Sell	220,000 -10,000	-4%	-$1.32M	4.55%	6
2022 Q3	$27.5M	Sell	230,000 -50,000	-18%	-$6.29M	4.31%	8
2022 Q2	$36.8M	Sell	280,000 -10,000	-3%	-$1.48M	6.23%	1
2022 Q1	$46.3M	Buy	290,000 +40,000	+16%	+$5.76M	4.09%	5
2021 Q4	$34.6M	Buy	+250,000	New	+$34.6M	2.47%	7
2021 Q3	–	Sell	-20,000	Closed	-$2.9M	–	62
2021 Q2	$2.9M	Buy	+20,000	New	+$2.89M	0.23%	65
2014 Q2	–	Sell	-250,000	Closed	-$11.5M	–	47
2014 Q1	$11.5M	Buy	250,000 +100,000	+67%	+$4.8M	2.89%	9
2013 Q4	$6.11M	Buy	+150,000	New	+$6.3M	1.51%	26

Other funds holding FNV

Fidelity Investments

Fidelity Investments Boston, Massachusetts $1.9T AUM 41.92% 1-Year Est. Return

Massachusetts Financial Services

Massachusetts Financial Services Boston, Massachusetts $298B AUM 21.96% 1-Year Est. Return

VanEck Associates

VanEck Associates New York $133B AUM 72.99% 1-Year Est. Return

Fidelity International

Fidelity International Hamilton, Bermuda $129B AUM 30.83% 1-Year Est. Return

Vanguard Capital Management Malvern, Pennsylvania $4.04T AUM

First Eagle Investment Management

First Eagle Investment Management New York $59B AUM 32.99% 1-Year Est. Return

Bank of Montreal

Bank of Montreal Toronto, Ontario, Canada $245B AUM 31.4% 1-Year Est. Return

Capital World Investors

Capital World Investors Los Angeles, California $733B AUM 35.63% 1-Year Est. Return

EdgePoint Investment Group Toronto, Ontario, Canada $12.5B AUM 31.7% 1-Year Est. Return

Royal Bank of Canada

Royal Bank of Canada Toronto, Ontario, Canada $528B AUM 27.57% 1-Year Est. Return