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TAM

Telemark Asset Management Portfolio holdings

AUM $1.08B
1-Year Est. Return 70.88%
This Fund
S&P 500
This Quarter Est. Return
-4.08%
1 Year Est. Return
+70.88%
3 Year Est. Return
+270.69%
5 Year Est. Return
+512.18%
10 Year Est. Return
+6,002.69%
AUM
$764M
AUM Growth
-$238M
Cap. Flow
-$156M
Cap. Flow %
-20.41%
Top 10 Hldgs %
48.97%
Holding
63
New
9
Increased
9
Reduced
16
Closed
16

Top Buys

Rank Stock Value
1
VRTX icon
Vertex Pharmaceuticals
VRTX
+$18.6M
2
WCN
Waste Connections
WCN
+$14.8M
3
CRH icon
CRH
CRH
+$14.8M
4
FNV icon
Franco-Nevada
FNV
+$14M
5
TRMB icon
Trimble
TRMB
+$13.7M

Top Sells

Rank Stock Value
1
NVDA icon
NVIDIA
NVDA
+$44.4M
2
NOW icon
ServiceNow
NOW
+$26.5M
3
BILL icon
BILL Holdings
BILL
+$25.4M
4
IOSP icon
Innospec
IOSP
+$15.4M
5
CCJ icon
Cameco
CCJ
+$14.1M

Sector Composition

Rank Sector Weight
1 Technology 33.97%
2 Industrials 26.39%
3 Energy 11.84%
4 Real Estate 6.61%
5 Materials 6.2%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AMSC icon
26
American Superconductor
AMSC
$1.6B
$10.9M 1.42%
600,000
– –
AMT icon
27
American Tower
AMT
$78.3B
$10.9M 1.42%
+50,000
New +$9.81M
ARM icon
28
Arm
ARM
$293B
$10.7M 1.4%
100,000
-50,000
-33% -$6.97M
BWXT icon
29
BWX Technologies
BWXT
$15.4B
$9.87M 1.29%
100,000
– –
OSIS icon
30
OSI Systems
OSIS
$3.87B
$9.72M 1.27%
50,000
– –
CLBT icon
31
Cellebrite
CLBT
$3.9B
$9.71M 1.27%
500,000
– –
DE icon
32
Deere & Co
DE
$165B
$9.39M 1.23%
+20,000
New +$9.36M
GLW icon
33
Corning
GLW
$135B
$9.16M 1.2%
200,000
-200,000
-50% -$9.88M
WGS icon
34
GeneDx Holdings
WGS
$2.08B
$8.86M 1.16%
+100,000
New +$8.68M
HLMN icon
35
Hillman Solutions
HLMN
$1.81B
$8.79M 1.15%
1,000,000
+100,000
+11% +$971K
TEAM icon
36
Atlassian
TEAM
$28.8B
$8.49M 1.11%
40,000
– –
CDXS icon
37
Codexis
CDXS
$156M
$8.07M 1.06%
3,000,000
– –
MIR icon
38
Mirion Technologies
MIR
$3.84B
$7.25M 0.95%
500,000
– –
ASPI icon
39
ASP Isotopes
ASPI
$510M
$6.92M 0.91%
1,475,000
– –
BDSX icon
40
Biodesix
BDSX
$236M
$5.18M 0.68%
414,125
– –
CCC
41
CCC Intelligent Solutions
CCC
$3.8B
$4.51M 0.59%
500,000
-950,000
-66% -$9.86M
VRRM icon
42
Verra Mobility
VRRM
$852M
$4.5M 0.59%
200,000
-400,000
-67% -$9.63M
KOPN icon
43
Kopin
KOPN
$732M
$2.8M 0.37%
+3,000,000
New +$4.41M
RXST icon
44
RxSight
RXST
$260M
$2.52M 0.33%
100,000
-221,000
-69% -$6.57M
SMWB icon
45
Similarweb
SMWB
$652M
$1.9M 0.25%
230,000
-70,000
-23% -$863K
ARBE icon
46
Arbe Robotics
ARBE
$86.6M
$1.39M 0.18%
+1,350,000
New +$2.98M
KRNT icon
47
Kornit Digital
KRNT
$781M
$1.34M 0.17%
70,000
-130,000
-65% -$3.4M
AAPL icon
48
Apple
AAPL
$4.54T
– –
-40,000
Closed -$10M
BILL icon
49
BILL Holdings
BILL
$4.81B
– –
-300,000
Closed -$25.4M
CRM icon
50
Salesforce
CRM
$158B
– –
-20,000
Closed -$6.69M
1
2
3

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HBCM
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PWA
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MIA
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Telemark Asset Management's Q1 2025 Portfolio in Review

As of Q1 2025, Telemark Asset Management held 63 positions worth $764M, down 24% from $1B the previous quarter. Its ten largest holdings account for 49% of the portfolio.

Telemark Asset Management withdrew a net $156M in Q1 2025, closing 16 positions and reducing 16 holdings. Its most notable exit was ServiceNow, an estimated $26.5M position sold in full.

By sector, the portfolio is most concentrated in Technology at 34% of assets, down from 48% a quarter earlier, followed by Industrials and Energy.

Against the trend, Telemark Asset Management opened a new position in Vertex Pharmaceuticals worth $19.4M.

  • Telemark Asset Management's largest Q1 2025 buy was Vertex Pharmaceuticals: 40,000 shares worth $19.4M.
  • Telemark Asset Management added most to Waste Connections in Q1 2025, an estimated $14.8M increase.
  • Telemark Asset Management's biggest Q1 2025 reduction was NVIDIA, cutting an estimated $44.4M.
  • Telemark Asset Management fully exited ServiceNow in Q1 2025, selling an estimated $26.5M.
  • Telemark Asset Management's ten largest holdings make up 49% of its $764M portfolio in Q1 2025.
  • Telemark Asset Management opened 9 new positions and closed 16 in Q1 2025.
  • Telemark Asset Management's portfolio value fell 24% quarter-over-quarter to $764M.

Based on Telemark Asset Management's 13F filing for Q1 2025, filed 12 May 2025.