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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
+6,018.75%
AUM
$764M
AUM Growth
-$238M
(-24%)
Cap. Flow
-$156M
Cap. Flow
% of AUM
-20.41%
Top 10 Holdings %
Top 10 Hldgs %
48.97%
Holding
63
New
9
Increased
9
Reduced
16
Closed
16
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vertex Pharmaceuticals
VRTX
|
+$18.6M |
| 2 |
WCN
Waste Connections
WCN
|
+$14.8M |
| 3 |
CRH
CRH
|
+$14.8M |
| 4 |
Franco-Nevada
FNV
|
+$14M |
| 5 |
Trimble
TRMB
|
+$13.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
NVIDIA
NVDA
|
+$44.4M |
| 2 |
ServiceNow
NOW
|
+$26.5M |
| 3 |
BILL Holdings
BILL
|
+$25.4M |
| 4 |
Innospec
IOSP
|
+$15.4M |
| 5 |
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 | |
|---|---|---|---|---|---|---|
|
EA
51
DELISTED
Electronic Arts
EA
| – | – |
-50,000
| Closed | -$7.32M |
|
52
HubSpot
HUBS
$10.1B
| – | – |
-10,000
| Closed | -$6.97M |
|
|
53
Innospec
IOSP
$2.25B
| – | – |
-140,000
| Closed | -$15.4M |
|
54
Klaviyo
KVYO
$4.76B
| – | – |
-100,000
| Closed | -$4.12M |
|
55
Microsoft
MSFT
$3.71T
| – | – |
-30,000
| Closed | -$12.6M |
|
|
56
ServiceNow
NOW
$121B
| – | – |
-125,000
| Closed | -$26.5M |
|
57
NexGen Energy
NXE
$6.86B
| – | – |
-1,800,000
| Closed | -$11.9M |
|
58
TD Synnex
SNX
$20.7B
| – | – |
-50,000
| Closed | -$5.86M |
|
59
TechTarget
TTGT
$312M
| – | – |
-150,000
| Closed | -$2.97M |
|
60
Twilio
TWLO
$29.3B
| – | – |
-50,000
| Closed | -$5.4M |
|
61
Texas Instruments
TXN
$254B
| – | – |
-25,000
| Closed | -$4.69M |
|
62
Vertiv
VRT
$106B
| – | – |
-120,000
| Closed | -$13.6M |
|
|
AMPS
63
DELISTED
Altus Power
AMPS
| – | – |
-910,000
| Closed | -$3.7M |
|
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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.