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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
+3.54%
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
$1B
AUM Growth
-$52.4M
Cap. Flow
-$37.7M
Cap. Flow %
-3.77%
Top 10 Hldgs %
47.38%
Holding
61
New
14
Increased
8
Reduced
21
Closed
5

Top Buys

Rank Stock Value
1
PLTR icon
Palantir
PLTR
+$18.1M
2
MOD icon
Modine Manufacturing
MOD
+$14.9M
3
MDB icon
MongoDB
MDB
+$14.6M
4
NOVT icon
Novanta
NOVT
+$14.2M
5
FSLR icon
First Solar
FSLR
+$12.6M

Top Sells

Rank Stock Value
1
CSGP icon
CoStar Group
CSGP
+$46.4M
2
TWLO icon
Twilio
TWLO
+$20M
3
META icon
Meta Platforms (Facebook)
META
+$13.4M
4
FFIV icon
F5
FFIV
+$12.9M
5
MRNA icon
Moderna
MRNA
+$12.9M

Sector Composition

Rank Sector Weight
1 Technology 49.03%
2 Industrials 20.34%
3 Energy 11.8%
4 Consumer Discretionary 6.6%
5 Communication Services 5.55%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
LPTH icon
51
Lightpath Technologies
LPTH
$754M
$4.16M 0.42%
+385,000
New +$3.12M
RIVN icon
52
Rivian
RIVN
$22.3B
$3.94M 0.39%
+200,000
New +$3.17M
EPAC icon
53
Enerpac Tool Group
EPAC
$1.92B
$3.82M 0.38%
+100,000
New +$3.96M
ASPN icon
54
Aspen Aerogels
ASPN
$571M
$2.83M 0.28%
1,000,000
-792,424
-44% -$4.09M
ANDG
55
Andersen Group
ANDG
$5.53B
$2.59M 0.26%
+100,000
New +$2.51M
BDSX icon
56
Biodesix
BDSX
$229M
$2.23M 0.22%
327,824
-86,300
-21% -$636K
CSGP icon
57
CoStar Group
CSGP
$12B
– –
-550,000
Closed -$46.4M
FFIV icon
58
F5
FFIV
$23.5B
– –
-40,000
Closed -$12.9M
MRNA icon
59
Moderna
MRNA
$21.5B
– –
-500,000
Closed -$12.9M
SNOW icon
60
Snowflake
SNOW
$110B
– –
-40,000
Closed -$9.02M
TWLO icon
61
Twilio
TWLO
$29.3B
– –
-200,000
Closed -$20M
1 2
3

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Telemark Asset Management's Q4 2025 Portfolio in Review

As of Q4 2025, Telemark Asset Management held 61 positions worth $1B, down 5% from $1.05B the previous quarter. Its ten largest holdings account for 47% of the portfolio.

Telemark Asset Management withdrew a net $37.7M in Q4 2025, closing 5 positions and reducing 21 holdings. Its most notable exit was CoStar Group, an estimated $46.4M position sold in full.

By sector, the portfolio is most concentrated in Technology at 49% of assets, up from 40% a quarter earlier, followed by Industrials and Energy.

Against the trend, Telemark Asset Management opened a new position in Palantir worth $17.8M.

  • Telemark Asset Management's largest Q4 2025 buy was Palantir: 100,000 shares worth $17.8M.
  • Telemark Asset Management added most to Novanta in Q4 2025, an estimated $14.2M increase.
  • Telemark Asset Management's biggest Q4 2025 reduction was Meta Platforms (Facebook), cutting an estimated $13.4M.
  • Telemark Asset Management fully exited CoStar Group in Q4 2025, selling an estimated $46.4M.
  • Telemark Asset Management's ten largest holdings make up 47% of its $1B portfolio in Q4 2025.
  • Telemark Asset Management opened 14 new positions and closed 5 in Q4 2025.
  • Telemark Asset Management's portfolio value fell 5% quarter-over-quarter to $1B.

Based on Telemark Asset Management's 13F filing for Q4 2025, filed 11 Feb 2026.