# Telemark Asset Management, LLC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1420816. Source: https://holderbook.com/funds/1420816-telemark-asset-management-llc/

- Reported value: $1.4B
- Positions: 57
- Weight of the ten largest: 42.9%
- Filed: 2026-08-10

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $120.1M | 600,000 | 8.7% | 14 |
| CAMECO CORP | [CCJ](https://holderbook.com/stocks/CCJ/) | $91.7M | 900,000 | 6.6% | 16 |
| NOVANTA INC | [NOVT](https://holderbook.com/stocks/NOVT/) | $69.0M | 425,000 | 5.0% | 31 |
| HEICO CORP NEW | [HEI](https://holderbook.com/stocks/HEI/) | $49.9M | 140,000 | 3.6% | 31 |
| MODERNA INC | [MRNA](https://holderbook.com/stocks/MRNA/) | $49.0M | 700,000 | 3.5% | 2 |
| TAIWAN SEMICONDUCTOR MANUFAC | [TSM](https://holderbook.com/stocks/TSM/) | $47.8M | 100,000 | 3.5% | 14 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $47.7M | 200,000 | 3.4% | 31 |
| CORNING INC | [GLW](https://holderbook.com/stocks/GLW/) | $42.1M | 165,000 | 3.0% | 9 |
| HALLIBURTON CO | [HAL](https://holderbook.com/stocks/HAL/) | $40.7M | 1,200,000 | 2.9% | 2 |
| TERADYNE INC | [TER](https://holderbook.com/stocks/TER/) | $36.3M | 75,000 | 2.6% | 4 |
| WASTE CONNECTIONS INC | [WCN](https://holderbook.com/stocks/WCN/) | $33.3M | 200,000 | 2.4% | 21 |
| HEICO CORP NEW | [HEIA](https://holderbook.com/stocks/HEIA/) | $32.2M | 125,000 | 2.3% | 25 |
| CATERPILLAR INC | [CAT](https://holderbook.com/stocks/CAT/) | $31.9M | 30,000 | 2.3% | 2 |
| DIGITALOCEAN HLDGS INC | [DOCN](https://holderbook.com/stocks/DOCN/) | $31.4M | 200,000 | 2.3% | 3 |
| KOPIN CORP | [KOPN](https://holderbook.com/stocks/KOPN/) | $31.4M | 7,000,000 | 2.3% | 6 |
| CLEAN HARBORS INC | [CLH](https://holderbook.com/stocks/CLH/) | $29.9M | 100,000 | 2.2% | 18 |
| PALANTIR TECHNOLOGIES INC | [PLTR](https://holderbook.com/stocks/PLTR/) | $29.2M | 250,000 | 2.1% | 3 |
| SLB LIMITED | [SLB](https://holderbook.com/stocks/SLB/) | $27.9M | 600,000 | 2.0% | 2 |
| ANALOG DEVICES INC | [ADI](https://holderbook.com/stocks/ADI/) | $27.8M | 70,000 | 2.0% | 9 |
| AMERICAN SUPERCONDUCTOR CORP | [AMSC](https://holderbook.com/stocks/AMSC/) | $24.9M | 600,000 | 1.8% | 10 |
| TEXAS INSTRS INC | [TXN](https://holderbook.com/stocks/TXN/) | $23.8M | 80,000 | 1.7% | 2 |
| BAKER HUGHES COMPANY | [BKR](https://holderbook.com/stocks/BKR/) | $22.2M | 400,000 | 1.6% | 2 |
| APPLIED MATLS INC | [AMAT](https://holderbook.com/stocks/AMAT/) | $21.7M | 30,000 | 1.6% | 3 |
| FRANCO NEV CORP | [FNV](https://holderbook.com/stocks/FNV/) | $20.8M | 100,000 | 1.5% | 6 |
| ALLIENT INC | [ALNT](https://holderbook.com/stocks/ALNT/) | $20.6M | 200,000 | 1.5% | 3 |
| ASML HLDG NV | [ASML](https://holderbook.com/stocks/ASML/) | $19.9M | 10,000 | 1.4% | 5 |
| ALMONTY INDS INC | [ALM](https://holderbook.com/stocks/ALM/) | $19.9M | 1,200,000 | 1.4% | 4 |
| ANDERSEN GROUP INC | [ANDG](https://holderbook.com/stocks/ANDG/) | $18.9M | 500,000 | 1.4% | 3 |
| MODINE MFG CO | [MOD](https://holderbook.com/stocks/MOD/) | $18.7M | 70,000 | 1.4% | 3 |
| ALPHABET INC | [GOOGL](https://holderbook.com/stocks/GOOGL/) | $17.9M | 50,000 | 1.3% | 7 |
| GARMIN LTD | [GRMN](https://holderbook.com/stocks/GRMN/) | $17.8M | 75,000 | 1.3% | 13 |
| LAM RESEARCH CORP | [LRCX](https://holderbook.com/stocks/LRCX/) | $17.3M | 40,000 | 1.3% | 4 |
| META PLATFORMS INC | [META](https://holderbook.com/stocks/META/) | $16.9M | 30,000 | 1.2% | 12 |
| LIGHTPATH TECHNOLOGIES INC | [LPTH](https://holderbook.com/stocks/LPTH/) | $16.8M | 1,025,000 | 1.2% | 3 |
| BWX TECHNOLOGIES INC | [BWXT](https://holderbook.com/stocks/BWXT/) | $15.6M | 80,000 | 1.1% | 10 |
| OLD DOMINION FREIGHT LINE IN | [ODFL](https://holderbook.com/stocks/ODFL/) | $15.2M | 70,000 | 1.1% | 1 |
| BRIGHTVIEW HLDGS INC | [BV](https://holderbook.com/stocks/BV/) | $12.0M | 850,000 | 0.9% | 10 |
| D-WAVE QUANTUM INC | [QBTS](https://holderbook.com/stocks/QBTS/) | $12.0M | 500,000 | 0.9% | 2 |
| NEXTPOWER INC | [NXT](https://holderbook.com/stocks/NXT/) | $11.9M | 100,000 | 0.9% | 2 |
| AXON ENTERPRISE INC | [AXON](https://holderbook.com/stocks/AXON/) | $11.2M | 20,000 | 0.8% | 25 |
| BIODESIX INC | [BDSX](https://holderbook.com/stocks/BDSX/) | $11.0M | 489,824 | 0.8% | 4 |
| KAROOOOO LTD | [KARO](https://holderbook.com/stocks/KARO/) | $10.6M | 215,150 | 0.8% | 5 |
| TWILIO INC | [TWLO](https://holderbook.com/stocks/TWLO/) | $10.3M | 50,000 | 0.7% | 2 |
| APPLOVIN CORP | [APP](https://holderbook.com/stocks/APP/) | $10.3M | 20,000 | 0.7% | 3 |
| SHOPIFY INC | [SHOP](https://holderbook.com/stocks/SHOP/) | $10.3M | 90,000 | 0.7% | 5 |
| TRIMBLE INC | [TRMB](https://holderbook.com/stocks/TRMB/) | $10.2M | 200,000 | 0.7% | 7 |
| HILLMAN SOLUTIONS CORP | [HLMN](https://holderbook.com/stocks/HLMN/) | $9.3M | 1,100,000 | 0.7% | 13 |
| ORMAT TECHNOLOGIES INC | [ORA](https://holderbook.com/stocks/ORA/) | $8.7M | 80,000 | 0.6% | 3 |
| CODEXIS INC | [CDXS](https://holderbook.com/stocks/CDXS/) | $8.7M | 3,846,411 | 0.6% | 31 |
| ROGERS CORP | [ROG](https://holderbook.com/stocks/ROG/) | $8.2M | 50,000 | 0.6% | 1 |
| FLEX LTD | [FLEX](https://holderbook.com/stocks/FLEX/) | $8.1M | 50,000 | 0.6% | 1 |
| KNIGHT-SWIFT TRANSN HLDGS IN | [KNX](https://holderbook.com/stocks/KNX/) | $7.8M | 100,000 | 0.6% | 1 |
| ASPEN AEROGELS INC | [ASPN](https://holderbook.com/stocks/ASPN/) | $6.3M | 1,000,000 | 0.5% | 31 |
| OVINTIV INC | [OVV](https://holderbook.com/stocks/OVV/) | $5.3M | 100,000 | 0.4% | 2 |
| NEXGEN ENERGY LTD | [NXE](https://holderbook.com/stocks/NXE/) | $4.7M | 500,000 | 0.3% | 2 |
| PATTERSON-UTI ENERGY INC | [PTEN](https://holderbook.com/stocks/PTEN/) | $4.6M | 500,000 | 0.3% | 1 |
| HELIOS TECHNOLOGIES INC | [HLIO](https://holderbook.com/stocks/HLIO/) | $4.5M | 50,000 | 0.3% | 1 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +20.9% | +14.8% | +6.1% | 100% |
| Q1 2026 | +2.0% | -4.6% | +6.6% | 100% |
| Q4 2025 | -2.6% | +2.4% | -4.9% | 100% |
| Q3 2025 | +8.8% | +7.8% | +1.0% | 100% |
| Q2 2025 | +21.0% | +10.5% | +10.5% | 100% |
| Q1 2025 | -13.7% | -4.6% | -9.2% | 100% |
| Q4 2024 | -0.8% | +2.1% | -3.0% | 100% |
| Q3 2024 | -1.3% | +5.4% | -6.7% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $1.4B | 57 |
| Q1 2026 | $1.1B | 53 |
| Q4 2025 | $1.0B | 56 |
| Q3 2025 | $1.1B | 47 |
| Q2 2025 | $1.1B | 49 |
| Q1 2025 | $764.3M | 47 |
| Q4 2024 | $1.0B | 54 |
| Q3 2024 | $990.3M | 56 |
| Q2 2024 | $1.1B | 58 |
| Q1 2024 | $967.7M | 63 |
| Q4 2023 | $671.4M | 47 |
| Q3 2023 | $659.1M | 48 |