Latest Telemark Asset Management, LLC Stock Portfolio

Telemark Asset Management, LLC Performance:

2025 Q4: -1.45%YTD: 15.29%2024: 32.5%

Performance for 2025 Q4 is -1.45%, and YTD is 15.29%, and 2024 is 32.5%.

About Telemark Asset Management, LLC and 13F Hedge Fund Stock Holdings

On 2026-02-11, the fund reported it's updated stock portfolio. In the 13F Holdings report, Telemark Asset Management, LLC reported an equity portfolio of $1 Billions as of 31 Dec, 2025.

The top stock holdings of Telemark Asset Management, LLC are NVDA, , AMZN. The fund has invested 11.2% of it's portfolio in NVIDIA CORPORATION and 9.1% of portfolio in CAMECO CORP.

The fund managers got completely rid off COSTAR GROUP INC (CSGP), TWILIO INC (TWLO) and F5 INC (FFIV) stocks. They significantly reduced their stock positions in RANGE RES CORP (RRC), GARMIN LTD (GRMN) and ASPEN AEROGELS INC (ASPN). Telemark Asset Management, LLC opened new stock positions in PALANTIR TECHNOLOGIES INC (PLTR), MONGODB INC (MDB) and APPLOVIN CORP (APP). The fund showed a lot of confidence in some stocks as they added substantially to MICROSOFT CORP (MSFT), ASML HOLDING N V and LAM RESEARCH CORP (LRCX).

Telemark Asset Management, LLC Annual Return Estimates Vs S&P 500

Our best estimate is that Telemark Asset Management, LLC made a return of -1.45% in the last quarter. In trailing 12 months, it's portfolio return was 15.29%.

Performance
S&P 500

New Buys

Ticker	$ Bought
palantir technologies inc	17,775,000
mongodb inc	16,787,600
applovin corp	13,476,400
modine mfg co	13,351,000
first solar inc	13,061,500
applied matls inc	10,279,600
digitalocean hldgs inc	9,624,000
ormat technologies inc	8,837,600

New stocks bought by Telemark Asset Management, LLC

Additions

Ticker	% Inc.
microsoft corp	200
asml holding n v	150
camtek ltd	133
lam research corp	100
novanta inc	50.00
shoals technologies group in	50.00
kopin corp	40.00
microchip technology inc.	16.67

Additions to existing portfolio by Telemark Asset Management, LLC

Reductions

Ticker	% Reduced
garmin ltd	-50.00
range res corp	-50.00
aspen aerogels inc	-44.21
brightview hldgs inc	-43.48
asp isotopes inc	-37.74
axon enterprise inc	-33.33
cellebrite di ltd	-33.33
eqt corp	-33.33

Telemark Asset Management, LLC reduced stake in above stock

Sold off

Ticker	$ Sold
costar group inc	-46,403,500
moderna inc	-12,915,000
twilio inc	-20,018,000
f5 inc	-12,927,600
snowflake inc	-9,022,000

Telemark Asset Management, LLC got rid off the above stocks

Sector Distribution

Telemark Asset Management, LLC has about 38% of it's holdings in Technology sector.

Sector	%
Technology	38
Others	25.6
Industrials	19.8
Consumer Cyclical	6.3
Communication Services	4.2
Energy	2.7
	1.3

Market Cap. Distribution

Telemark Asset Management, LLC has about 52.8% of it's portfolio invested in the large-cap and mega-cap stocks.

Category	%
LARGE-CAP	31.4
UNALLOCATED	24.7
MEGA-CAP	21.4
MID-CAP	10.8
SMALL-CAP	7.1
MICRO-CAP	4.5

Stocks belong to which Index?

About 49% of the stocks held by Telemark Asset Management, LLC either belong to S&P 500 or RUSSELL 2000 index.

Index	%
Others	51
S&P 500	36
RUSSELL 2000	13

Top 5 Winners (%)		%
	almonty inds inc	46.1 %
TER	teradyne inc	40.6 %
GOOG	alphabet inc	28.8 %
LRCX	lam research corp	19.5 %
SMFR	genedx holdings corp	19.0 %

Top 5 Winners ($)		$
	cameco corp	7.6 M
NOVT	novanta inc	5.9 M
TER	teradyne inc	3.9 M
	almonty inds inc	3.6 M
GOOG	alphabet inc	3.5 M

Top 5 Losers (%)		%
AMSC	american superconductor corp	-48.9 %
ASPN	aspen aerogels inc	-46.2 %
ASPI	asp isotopes inc	-36.0 %
CDXS	codexis inc	-32.6 %
	arm holdings plc	-22.7 %

Top 5 Losers ($)		$
AMSC	american superconductor corp	-20.0 M
ASPN	aspen aerogels inc	-5.8 M
ASPI	asp isotopes inc	-4.6 M
AXON	axon enterprise inc	-3.7 M
META	meta platforms inc	-3.7 M

Telemark Asset Management, LLC Holdings Map

This heatmap illustrates the top 50 positions within the fund's portfolio.

Current Stock Holdings of Telemark Asset Management, LLC

Telemark Asset Management, LLC has 56 stocks in it's portfolio. About 47.4% of the portfolio is in top 10 stocks. AMSC proved to be the most loss making stock for the portfolio. was the most profitable stock for Telemark Asset Management, LLC last quarter.

Last Reported on: 11 Feb, 2026

Ticker	Namesorted ascending	% Portfolio	Shares Held	$ Value	Type	% Change
ADI	analog devices inc	2.30	85,000	23,052,000	reduced	-15.00

AMAT	applied matls inc	1.03	40,000	10,279,600	new

AMOT	allient inc	0.80	150,000	8,062,500	new

AMSC	american superconductor corp	1.78	619,900	17,840,700	reduced	-10.16

AMZN	amazon com inc	4.61	200,000	46,164,000	unchanged	0.00

APP	applovin corp	1.35	20,000	13,476,400	new

ASPI	asp isotopes inc	0.44	825,000	4,413,750	reduced	-37.74

ASPN	aspen aerogels inc	0.28	1,000,000	2,830,000	reduced	-44.21

AXON	axon enterprise inc	1.14	20,000	11,358,600	reduced	-33.33

BDSX	biodesix inc	0.22	327,824	2,229,200	reduced	-20.84

BV	brightview hldgs inc	0.82	650,000	8,235,500	reduced	-43.48

BWXT	bwx technologies inc	1.73	100,000	17,284,000	reduced	-20.00

CDXS	codexis inc	0.63	3,846,410	6,269,650	reduced	-3.84

CLBT	cellebrite di ltd	0.72	400,000	7,212,000	reduced	-33.33

CLH	clean harbors inc	1.87	80,000	18,758,400	reduced	-27.27

CSGP	costar group inc	0.00	0.00	0.00	sold off	-100

DOCN	digitalocean hldgs inc	0.96	200,000	9,624,000	new

EPAC	enerpac tool group corp	0.38	100,000	3,824,000	new

EQT	eqt corp	1.61	300,000	16,080,000	reduced	-33.33

FFIV	f5 inc	0.00	0.00	0.00	sold off	-100