Telemark Asset Management
BOSTON, MAfiles as Telemark Asset Management, LLC
$1.4bn in 57 US stocks at the end of 30 June 2026. The top 10 are 42.9% of the money. It changed about 13.6% of the portfolio this quarter.
Value
$1.4bn
Stocks
57
Top 10 share
42.9%
Turnover
13.6%
What changed this quarter
New
Bought for the first time this quarter.
- Old Dominion Freight LineODFL1.1% of the fund
- RogersROG0.6% of the fund
- FlexFLEX0.6% of the fund
- Knight-Swift Transportation HoldingsKNX0.6% of the fund
- Patterson UTI EnergyPTEN0.3% of the fund
- Helios TechnologiesHLIO0.3% of the fund
Added
Bought more of a stock they already held.
- NovantaNOVT5.0% of the fund+13%
- ModernaMRNA3.5% of the fund+40%
- TeradyneTER2.6% of the fund+7%
- Waste ConnectionsWCN2.4% of the fund+100%
- Palantir TechnologiesPLTR2.1% of the fund+25%
- AllientALNT1.5% of the fund+33%
- GarminGRMN1.3% of the fund+50%
- Lightpath TechnologiesLPTH1.2% of the fund+166%
- Hillman SolutionsHLMN0.7% of the fund+16%
Cut
Sold some of their stake.
- CorningGLW3.0% of the fund-18%
- Applied MaterialsAMAT1.6% of the fund-25%
- Modine ManufacturingMOD1.4% of the fund-13%
- Lam ResearchLRCX1.3% of the fund-20%
- BWX TechnologiesBWXT1.1% of the fund-20%
Sold out
Sold their entire stake.
- CamtekCAMT-100%
- Enerpac Tool GroupEPAC-100%
Holdings
- CamecoCCJ
- Share
- 6.6%
- Value
- $92m
- Shares
- 900,000
Held
- Franco NevadaFNV
- Share
- 1.5%
- Value
- $21m
- Shares
- 100,000
Held
- Almonty IndustriesALM
- Share
- 1.4%
- Value
- $20m
- Shares
- 1,200,000
Held
- NexGen EnergyNXE
- Share
- 0.3%
- Value
- $5m
- Shares
- 500,000
Held
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| NvidiaNVDA | 8.7% | $120m | 600,000 | Held |
| CamecoCCJ | 6.6% | $92m | 900,000 | Held |
| NovantaNOVT | 5.0% | $69m | 425,000 | +13% |
| HeicoHEI | 3.6% | $50m | 140,000 | Held |
| ModernaMRNA | 3.5% | $49m | 700,000 | +40% |
| Taiwan Semiconductor ManufacturingTSM | 3.5% | $48m | 100,000 | Held |
| Amazon.comAMZN | 3.4% | $48m | 200,000 | Held |
| CorningGLW | 3.0% | $42m | 165,000 | -18% |
| HalliburtonHAL | 2.9% | $41m | 1,200,000 | Held |
| TeradyneTER | 2.6% | $36m | 75,000 | +7% |
| Waste ConnectionsWCN | 2.4% | $33m | 200,000 | +100% |
| HeicoHEI-A | 2.3% | $32m | 125,000 | Held |
| CaterpillarCAT | 2.3% | $32m | 30,000 | Held |
| DigitalOcean HoldingsDOCN | 2.3% | $31m | 200,000 | Held |
| KopinKOPN | 2.3% | $31m | 7,000,000 | Held |
| Clean HarborsCLH | 2.2% | $30m | 100,000 | Held |
| Palantir TechnologiesPLTR | 2.1% | $29m | 250,000 | +25% |
| SLB LimitedSLB | 2.0% | $28m | 600,000 | Held |
| Analog DevicesADI | 2.0% | $28m | 70,000 | Held |
| American SuperconductorAMSC | 1.8% | $25m | 600,000 | Held |
| Texas InstrumentsTXN | 1.7% | $24m | 80,000 | Held |
| Baker HughesBKR | 1.6% | $22m | 400,000 | Held |
| Applied MaterialsAMAT | 1.6% | $22m | 30,000 | -25% |
| Franco NevadaFNV | 1.5% | $21m | 100,000 | Held |
| AllientALNT | 1.5% | $21m | 200,000 | +33% |
| ASML Holding NVASML | 1.4% | $20m | 10,000 | Held |
| Almonty IndustriesALM | 1.4% | $20m | 1,200,000 | Held |
| Andersen GroupANDG | 1.4% | $19m | 500,000 | Held |
| Modine ManufacturingMOD | 1.4% | $19m | 70,000 | -13% |
| AlphabetGOOGL | 1.3% | $18m | 50,000 | Held |
| GarminGRMN | 1.3% | $18m | 75,000 | +50% |
| Lam ResearchLRCX | 1.3% | $17m | 40,000 | -20% |
| Meta PlatformsMETA | 1.2% | $17m | 30,000 | Held |
| Lightpath TechnologiesLPTH | 1.2% | $17m | 1,025,000 | +166% |
| BWX TechnologiesBWXT | 1.1% | $16m | 80,000 | -20% |
| Old Dominion Freight LineODFL | 1.1% | $15m | 70,000 | New |
| BrightView HoldingsBV | 0.9% | $12m | 850,000 | Held |
| D-Wave QuantumQBTS | 0.9% | $12m | 500,000 | Held |
| NextpowerNXT | 0.9% | $12m | 100,000 | Held |
| Axon EnterpriseAXON | 0.8% | $11m | 20,000 | Held |
| BiodesixBDSX | 0.8% | $11m | 489,824 | Held |
| KaroooooKARO | 0.8% | $11m | 215,150 | Held |
| TwilioTWLO | 0.7% | $10m | 50,000 | Held |
| AppLovinAPP | 0.7% | $10m | 20,000 | Held |
| ShopifySHOP | 0.7% | $10m | 90,000 | Held |
| TrimbleTRMB | 0.7% | $10m | 200,000 | Held |
| Hillman SolutionsHLMN | 0.7% | $9m | 1,100,000 | +16% |
| Ormat TechnologiesORA | 0.6% | $9m | 80,000 | Held |
| CodexisCDXS | 0.6% | $9m | 3,846,411 | Held |
| RogersROG | 0.6% | $8m | 50,000 | New |
| FlexFLEX | 0.6% | $8m | 50,000 | New |
| Knight-Swift Transportation HoldingsKNX | 0.6% | $8m | 100,000 | New |
| Aspen AerogelsASPN | 0.5% | $6m | 1,000,000 | Held |
| OvintivOVV | 0.4% | $5m | 100,000 | Held |
| NexGen EnergyNXE | 0.3% | $5m | 500,000 | Held |
| Patterson UTI EnergyPTEN | 0.3% | $5m | 500,000 | New |
| Helios TechnologiesHLIO | 0.3% | $4m | 50,000 | New |
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is up 46.9% since 30 June 2025.
Where the money is
Technology44.8%
Industrials19.2%
Materials11.1%
Energy7.3%
Retail & consumer6.1%
Health care4.3%
Media & telecom3.3%
Utilities3.0%
Everyday goods0.9%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.