Q2 2026 13F · SEC CIK 1420816

Telemark Asset Management, LLC

Hedge fundFiled 2026-08-10 for Q2 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $1.4B
Reported positions: 57
Top holdings a year, 3 yrs: +25.6%
Assets under management: $1.1B

Telemark Asset Management, LLC is a hedge fund that reported 57 positions worth $1.4B in its Q2 2026 13F, filed 2026-08-10. Its largest holdings were Nvidia Corporation (NVDA, 8.7%), Cameco Corp (CCJ, 6.6%), Novanta Inc (NOVT, 5.0%). A portfolio copying its top holdings returned 25.6% a year over the last 3 years, against 22.3% for the S&P 500.

Telemark Asset Management, LLC holdings largest 50 of 57 positions.

Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

Telemark Asset Management, LLC 13F holdings
Stock	% of 13F value	Q1 2026	Shares	Share change	Reported value
NVDANvidia Corporation	8.7%	9.7%	600,000	+0.0%	$120.1M
CCJCameco Corp	6.6%	9.0%	900,000	+0.0%	$91.7M
NOVTNovanta Inc	5.0%	4.1%	425,000	+13.3%	$69.0M
HEIHeico Corp New	3.6%	3.5%	140,000	+0.0%	$49.9M
MRNAModerna Inc	3.5%	2.3%	700,000	+40.0%	$49.0M
TSMTaiwan Semiconductor Manufac	3.5%	3.1%	100,000	+0.0%	$47.8M
AMZNAmazon Com Inc	3.4%	3.9%	200,000	+0.0%	$47.7M
GLWCorning Inc	3.0%	2.5%	165,000	-17.5%	$42.1M
HALHalliburton Co	2.9%	4.3%	1,200,000	+0.0%	$40.7M
TERTeradyne Inc	2.6%	1.9%	75,000	+7.1%	$36.3M
WCNWaste Connections Inc	2.4%	1.5%	200,000	+100.0%	$33.3M
HEI-AHeico Corp	2.3%	2.4%	125,000	+0.0%	$32.2M
CATCaterpillar Inc	2.3%	2.0%	30,000	+0.0%	$31.9M
DOCNDigitalocean Hldgs Inc	2.3%	1.6%	200,000	+0.0%	$31.4M
KOPNKopin Corp	2.3%	1.5%	7,000,000	+0.0%	$31.4M
CLHClean Harbors Inc	2.2%	2.7%	100,000	+0.0%	$29.9M
PLTRPalantir Technologies Inc	2.1%	2.7%	250,000	+25.0%	$29.2M
SLBSlb Limited	2.0%	2.9%	600,000	+0.0%	$27.9M
ADIAnalog Devices Inc	2.0%	2.1%	70,000	+0.0%	$27.8M
AMSCAmerican Superconductor Corp	1.8%	1.9%	600,000	+0.0%	$24.9M
TXNTexas Instrs Inc	1.7%	1.4%	80,000	+0.0%	$23.8M
BKRBaker Hughes Company Cl A	1.6%	2.3%	400,000	+0.0%	$22.2M
AMATApplied Matls Inc	1.6%	1.3%	30,000	-25.0%	$21.7M
FNVFranco Nev Corp	1.5%	2.3%	100,000	+0.0%	$20.8M
ALNTAllient Inc	1.5%	0.8%	200,000	+33.3%	$20.6M
ASMLAsml Hldg NV	1.4%	1.2%	10,000	+0.0%	$19.9M
ALMAlmonty Inds Inc	1.4%	1.6%	1,200,000	+0.0%	$19.9M
ANDGAndersen Group Inc	1.4%	1.3%	500,000	+0.0%	$18.9M
MODModine Manufacturing Co	1.4%	1.6%	70,000	-12.5%	$18.7M
GOOGLAlphabet Inc	1.3%	1.3%	50,000	+0.0%	$17.9M
GRMNGarmin Ltd	1.3%	1.1%	75,000	+50.0%	$17.8M
LRCXLam Research Corp	1.3%	1.0%	40,000	-20.0%	$17.3M
METAMeta Platforms Inc	1.2%	1.6%	30,000	+0.0%	$16.9M
LPTHLightpath Technologies Inc	1.2%	—	1,025,000	—	$16.8M
BWXTBwx Technologies Inc	1.1%	1.9%	80,000	-20.0%	$15.6M
ODFLOld Dominion Freight Line in	1.1%	—	70,000	—	$15.2M
BVBrightview Hldgs Inc	0.9%	0.9%	850,000	+0.0%	$12.0M
QBTSD-Wave Quantum Inc	0.9%	0.7%	500,000	+0.0%	$12.0M
NXTNextpower Inc	0.9%	1.1%	100,000	+0.0%	$11.9M
AXONAxon Enterprise Inc	0.8%	0.8%	20,000	+0.0%	$11.2M
BDSXBiodesix Inc	0.8%	0.7%	489,824	+0.0%	$11.0M
KAROKarooooo Ltd	0.8%	1.0%	215,150	+0.0%	$10.6M
TWLOTwilio Inc	0.7%	0.6%	50,000	+0.0%	$10.3M
APPApplovin Corp	0.7%	0.7%	20,000	+0.0%	$10.3M
SHOPShopify Inc	0.7%	1.0%	90,000	+0.0%	$10.3M
TRMBTrimble Inc	0.7%	1.2%	200,000	+0.0%	$10.2M
HLMNHillman Solutions Corp	0.7%	0.7%	1,100,000	+15.8%	$9.3M
ORAOrmat Technologies Inc	0.6%	0.8%	80,000	+0.0%	$8.7M
CDXSCodexis Inc	0.6%	0.6%	3,846,411	+0.0%	$8.7M
ROGRogers Corp	0.6%	—	50,000	—	$8.2M

What Telemark Asset Management, LLC bought and sold in Q2 2026, against Q1 2026.

New positions

Q1 2026's filing was too long to tell new positions apart.

Share counts compared with the Q1 2026 13F; a split also changes share counts. The latest filing lists more than 50 positions, so a position that left the top 50 may still be held.

How the holdings did against the S&P 500.

1 year: +12.3% /yr; S&P 500 +11.7%
3 years: +25.6% /yr; S&P 500 +22.3%
5 years: +3.0% /yr; S&P 500 +10.6%

A portfolio of the filer's 20 largest 13F positions, weighted by value, bought the trading day after each 13F was filed and held until the next one was: what copying this filer could have earned. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter	13F value	Positions
Q2 2026	$1.4B	57
Q1 2026	$1.1B	53
Q4 2025	$1.0B	56
Q3 2025	$1.1B	47
Q2 2025	$942.3M	48
Q1 2025	$764.3M	47
Q4 2024	$1.0B	54
Q3 2024	$990.3M	56
Q2 2024	$1.1B	57
Q1 2024	$967.7M	63
Q4 2023	$671.4M	47
Q3 2023	$659.1M	48

Questions about Telemark Asset Management, LLC's portfolio

What stocks does Telemark Asset Management, LLC own?

Telemark Asset Management, LLC's latest 13F, for Q2 2026 and filed Aug 10, 2026, lists 57 positions worth $1.4B. The largest are Nvidia Corporation (NVDA) at 8.7%, Cameco Corp (CCJ) at 6.6%, Novanta Inc (NOVT) at 5.0%, Heico Corp New (HEI) at 3.6% and Moderna Inc (MRNA) at 3.5%.

What did Telemark Asset Management, LLC buy last quarter?

In Q2 2026, Telemark Asset Management, LLC added Waste Connections Inc (WCN) (+100.0% shares), Garmin Ltd (GRMN) (+50.0% shares) and Moderna Inc (MRNA) (+40.0% shares), compared with its Q1 2026 filing.

What did Telemark Asset Management, LLC sell last quarter?

In Q2 2026, Telemark Asset Management, LLC cut from its top 50 Camtek Ltd (CAMT), cut from its top 50 Ovintiv Inc Com (OVV), cut from its top 50 Nexgen Energy Limited (canada) (NXE), Applied Matls Inc (AMAT) (-25.0% shares), Lam Research Corp (LRCX) (-20.0% shares) and Bwx Technologies Inc (BWXT) (-20.0% shares), compared with its Q1 2026 filing.

How has Telemark Asset Management, LLC's portfolio performed?

A portfolio copying Telemark Asset Management, LLC's 20 largest 13F holdings each quarter, from the day each filing was public, returned +25.6% a year over the last 3 years, against +22.3% for the S&P 500. Over 1 year: +12.3% against +11.7%. Over 5 years: +3.0% a year against +10.6%.

When is Telemark Asset Management, LLC's next 13F filing due?

13F filings are due 45 days after each quarter ends. Telemark Asset Management, LLC's filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.

How much money does Telemark Asset Management, LLC manage?

Telemark Asset Management, LLC reported $1.1B of regulatory assets under management on its latest SEC Form ADV. Its 13F, which covers only US-listed stocks and options, totals $1.4B.