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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
+28.36%
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
$1.1B
AUM Growth
+$338M
Cap. Flow
+$152M
Cap. Flow %
13.8%
Top 10 Hldgs %
54.19%
Holding
60
New
13
Increased
10
Reduced
8
Closed
11

Top Buys

Rank Stock Value
1
BA icon
Boeing
BA
+$18.9M
2
META icon
Meta Platforms (Facebook)
META
+$15.4M
3
MCHP icon
Microchip Technology
MCHP
+$11M
4
TWLO icon
Twilio
TWLO
+$10.6M
5
KARO icon
Karooooo
KARO
+$10.6M

Top Sells

Rank Stock Value
1
NVDA icon
NVIDIA
NVDA
+$25.2M
2
VRTX icon
Vertex Pharmaceuticals
VRTX
+$19.4M
3
CRH icon
CRH
CRH
+$13.2M
4
AMT icon
American Tower
AMT
+$10.9M
5
DE icon
Deere & Co
DE
+$9.39M

Sector Composition

Rank Sector Weight
1 Technology 32.1%
2 Industrials 24.03%
3 Energy 11.96%
4 Communication Services 4.5%
5 Consumer Discretionary 4.2%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MT icon
26
ArcelorMittal
MT
$52.9B
$12.6M 1.15%
400,000
– –
GLW icon
27
Corning
GLW
$119B
$12.6M 1.15%
240,000
+40,000
+20% +$1.87M
TWLO icon
28
Twilio
TWLO
$30B
$12.4M 1.13%
+100,000
New +$10.6M
FFIV icon
29
F5
FFIV
$22.9B
$11.8M 1.07%
40,000
-20,000
-33% -$5.53M
SHOP icon
30
Shopify
SHOP
$152B
$11.5M 1.05%
+100,000
New +$10M
OSIS icon
31
OSI Systems
OSIS
$3.65B
$11.2M 1.02%
50,000
– –
KARO icon
32
Karooooo
KARO
$1.98B
$11M 1%
+225,150
New +$10.6M
MIR icon
33
Mirion Technologies
MIR
$3.73B
$10.8M 0.98%
500,000
– –
ASPN icon
34
Aspen Aerogels
ASPN
$384M
$10.6M 0.96%
1,792,424
-100,000
-5% -$575K
ASPI icon
35
ASP Isotopes
ASPI
$504M
$10.5M 0.95%
1,425,000
-50,000
-3% -$335K
CDXS icon
36
Codexis
CDXS
$151M
$9.76M 0.89%
4,000,000
+1,000,000
+33% +$2.35M
BILL icon
37
BILL Holdings
BILL
$4.49B
$9.25M 0.84%
+200,000
New +$8.84M
ASML icon
38
ASML
ASML
$626B
$8.01M 0.73%
+10,000
New +$7.18M
CLBT icon
39
Cellebrite
CLBT
$3.68B
$8M 0.73%
500,000
– –
HLMN icon
40
Hillman Solutions
HLMN
$1.54B
$7.14M 0.65%
1,000,000
– –
KOPN icon
41
Kopin
KOPN
$652M
$6.12M 0.56%
4,000,000
+1,000,000
+33% +$1.3M
NXT icon
42
Nextpower Inc
NXT
$13.6B
$5.44M 0.49%
+100,000
New +$5.02M
GOOGL icon
43
Alphabet (Google) Class A
GOOGL
$4.36T
$5.29M 0.48%
30,000
-50,000
-63% -$8.18M
MSFT icon
44
Microsoft
MSFT
$3.45T
$4.97M 0.45%
+10,000
New +$4.34M
ARRY icon
45
Array Technologies
ARRY
$803M
$2.95M 0.27%
+500,000
New +$3.04M
DORM icon
46
Dorman Products
DORM
$3.98B
$2.45M 0.22%
+20,000
New +$2.43M
BDSX icon
47
Biodesix
BDSX
$220M
$2.34M 0.21%
414,125
– –
SHLS icon
48
Shoals Technologies Group
SHLS
$1.47B
$2.13M 0.19%
+500,000
New +$2.17M
ARBE icon
49
Arbe Robotics
ARBE
$80.3M
$2.05M 0.19%
1,150,000
-200,000
-15% -$286K
AMT icon
50
American Tower
AMT
$80.8B
– –
-50,000
Closed -$10.9M
1
2
3

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HBCM
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ACP
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PWA
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MIA
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Telemark Asset Management's Q2 2025 Portfolio in Review

As of Q2 2025, Telemark Asset Management held 60 positions worth $1.1B, up 44% from $764M the previous quarter. Its ten largest holdings account for 54% of the portfolio.

Telemark Asset Management deployed $152M of net new capital in Q2 2025, opening 13 new positions and adding to 10 existing holdings. Its largest new stake was Boeing: 100,000 shares worth $21M.

By sector, the portfolio is most concentrated in Technology at 32% of assets, down from 34% a quarter earlier, followed by Industrials and Energy.

On the sell side, the largest reduction was NVIDIA, an estimated $25.2M trimmed.

  • Telemark Asset Management's largest Q2 2025 buy was Boeing: 100,000 shares worth $21M.
  • Telemark Asset Management added most to Meta Platforms (Facebook) in Q2 2025, an estimated $15.4M increase.
  • Telemark Asset Management's biggest Q2 2025 reduction was NVIDIA, cutting an estimated $25.2M.
  • Telemark Asset Management fully exited Vertex Pharmaceuticals in Q2 2025, selling an estimated $19.4M.
  • Telemark Asset Management's ten largest holdings make up 54% of its $1.1B portfolio in Q2 2025.
  • Telemark Asset Management opened 13 new positions and closed 11 in Q2 2025.
  • Telemark Asset Management's portfolio value rose 44% quarter-over-quarter to $1.1B.

Based on Telemark Asset Management's 13F filing for Q2 2025, filed 12 Aug 2025.