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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
+12.28%
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
$1.05B
AUM Growth
-$48.7M
Cap. Flow
-$129M
Cap. Flow %
-12.23%
Top 10 Hldgs %
48.89%
Holding
56
New
7
Increased
11
Reduced
6
Closed
9

Top Buys

Rank Stock Value
1
MRNA icon
Moderna
MRNA
+$13.9M
2
WGS icon
GeneDx Holdings
WGS
+$13.1M
3
NOVT icon
Novanta
NOVT
+$11.9M
4
TWLO icon
Twilio
TWLO
+$11.3M
5
FNV icon
Franco-Nevada
FNV
+$9.01M

Top Sells

Rank Stock Value
1
BA icon
Boeing
BA
+$21M
2
MT icon
ArcelorMittal
MT
+$12.6M
3
OSIS icon
OSI Systems
OSIS
+$11.2M
4
BILL icon
BILL Holdings
BILL
+$9.25M
5
ARM icon
Arm
ARM
+$7.28M

Sector Composition

Rank Sector Weight
1 Technology 39.89%
2 Industrials 24.97%
3 Energy 12.43%
4 Communication Services 5.34%
5 Materials 5.13%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BILL icon
51
BILL Holdings
BILL
$4.68B
– –
-200,000
Closed -$9.25M
DORM icon
52
Dorman Products
DORM
$4.08B
– –
-20,000
Closed -$2.45M
MT icon
53
ArcelorMittal
MT
$55.2B
– –
-400,000
Closed -$12.6M
NXT icon
54
Nextpower Inc
NXT
$14.9B
– –
-100,000
Closed -$5.44M
OSIS icon
55
OSI Systems
OSIS
$3.91B
– –
-50,000
Closed -$11.2M
QQQ icon
56
PUT
Invesco QQQ Trust
QQQ
$479B
– –
-290,000
Closed -$160M
1 2
3

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CIS
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HBCM
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ACP
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SI
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PWA
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MIA
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Telemark Asset Management's Q3 2025 Portfolio in Review

As of Q3 2025, Telemark Asset Management held 56 positions worth $1.05B, down 4.4% from $1.1B the previous quarter. Its ten largest holdings account for 49% of the portfolio.

Telemark Asset Management withdrew a net $129M in Q3 2025, closing 9 positions and reducing 6 holdings. Its most notable exit was Boeing, an estimated $21M position sold in full.

By sector, the portfolio is most concentrated in Technology at 40% of assets, up from 32% a quarter earlier, followed by Industrials and Energy.

Against the trend, Telemark Asset Management opened a new position in Moderna worth $12.9M.

  • Telemark Asset Management's largest Q3 2025 buy was Moderna: 500,000 shares worth $12.9M.
  • Telemark Asset Management added most to Novanta in Q3 2025, an estimated $11.9M increase.
  • Telemark Asset Management's biggest Q3 2025 reduction was Arm, cutting an estimated $7.28M.
  • Telemark Asset Management fully exited Boeing in Q3 2025, selling an estimated $21M.
  • Telemark Asset Management's ten largest holdings make up 49% of its $1.05B portfolio in Q3 2025.
  • Telemark Asset Management opened 7 new positions and closed 9 in Q3 2025.
  • Telemark Asset Management's portfolio value fell 4.4% quarter-over-quarter to $1.05B.

Based on Telemark Asset Management's 13F filing for Q3 2025, filed 10 Nov 2025.