SEC 13F Intelligence

Managers / Q4 2025 · view latest →

Telemark Asset Management, LLC

CIK 0001420816 · ONE INTERNATIONAL PLACE, SUITE 4620, BOSTON, MA, 02110 · 617-526-8910

Reported Value
$1.0B
Q4 2025
Positions
56
Filings on Record
30
2019–present window
Filed
Feb 11, 2026
original filing

Summary

Telemark Asset Management, LLC reported $1.0B in U.S.-listed holdings across 56 positions for Q4 2025.

Its largest position, NVDA, represents 11.2% of the portfolio.

Compared with Q3 2025, the fund opened 14 new positions and exited 5.

Portfolio Metrics

Turnover
+20.6%
vs prior filed quarter
Top-10 Concentration
+47.4%
share of reported value
Largest Position
+11.2%
Nvidia Corporation
New / Exited
14 / 5
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $487MQ4 ’18Q1 ’19: $792MQ2 ’19: $872MQ3 ’19: $639MQ4 ’19: $690MQ4 ’19Q1 ’20: $419MQ2 ’20: $632MQ3 ’20: $827MQ4 ’20: $965MQ4 ’20Q1 ’21: $1.2BQ2 ’21: $1.3BQ3 ’21: $1.4BQ4 ’21: $1.4BQ4 ’21Q1 ’22: $1.1BQ2 ’22: $591MQ3 ’22: $637MQ4 ’22: $659MQ4 ’22Q1 ’23: $673MQ2 ’23: $737MQ3 ’23: $659MQ4 ’23: $671MQ4 ’23Q1 ’24: $968MQ2 ’24: $1.1BQ3 ’24: $990MQ4 ’24: $1.0BQ4 ’24Q1 ’25: $764MQ2 ’25: $1.1BQ3 ’25: $1.1BQ4 ’25: $1.0BQ4 ’25Q1 ’26: $1.1Bfilingsflow.com

Portfolio Composition

By security type
Common Stock: 91.9%Other: 4.6%ADR: 3.6%
  • Common Stock · 91.9% · $920M
  • Other · 4.6% · $46M
  • ADR · 3.6% · $36M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
PLTRPALANTIR TECHNOLOGIES INCNEW+100.0K100.0K+$18M$18M
MDBMONGODB INCNEW+40.0K40.0K+$17M$17M
APPAPPLOVIN CORPNEW+20.0K20.0K+$13M$13M
MODMODINE MFG CONEW+100.0K100.0K+$13M$13M
FSLRFIRST SOLAR INCNEW+50.0K50.0K+$13M$13M
AMATAPPLIED MATLS INCNEW+40.0K40.0K+$10M$10M
DOCNDIGITALOCEAN HLDGS INCNEW+200.0K200.0K+$10M$10M
HNMORMAT TECHNOLOGIES INCNEW+80.0K80.0K+$9M$9M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q4 2025

49 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1NVDANVIDIA CORPORATIONhistory →COM11.18%$112M600.0K
2CCOCAMECO CORPhistory →COM9.14%$91M1.00M
3HEIHEICO CORP NEWCOM · CL A7.68%$77M265.0K
4AMZNAMAZON COM INChistory →COM4.61%$46M200.0K
51GSNNOVANTA INChistory →COM4.46%$45M375.0K
6TSMTAIWAN SEMICONDUCTOR MFG LTDhistory →SPONSORED ADS3.04%$30M100.0K
7METAMETA PLATFORMS INChistory →CL A2.64%$26M40.0K
8TRMBTRIMBLE INChistory →COM2.35%$24M300.0K
9ADIANALOG DEVICES INChistory →COM2.30%$23M85.0K
10MCHPMICROCHIP TECHNOLOGY INC.history →COM2.23%$22M350.0K
11WCNWASTE CONNECTIONS INChistory →COM2.10%$21M120.0K
12SHOPSHOPIFY INChistory →CL A SUB VTG SHS2.09%$21M130.0K
13FNVFRANCO NEV CORPhistory →COM2.07%$21M100.0K
14CLHCLEAN HARBORS INChistory →COM1.87%$19M80.0K
15AMSCAMERICAN SUPERCONDUCTOR CORPhistory →SHS NEW1.78%$18M619.9K
16PLTRPALANTIR TECHNOLOGIES INChistory →CL A1.78%$18M100.0K
17GLWCORNING INChistory →COM1.75%$18M200.0K
18BWXTBWX TECHNOLOGIES INChistory →COM1.73%$17M100.0K
19MDBMONGODB INChistory →CL A1.68%$17M40.0K
20KOPNKOPIN CORPhistory →COM1.64%$16M7.00M
21EQTEQT CORPhistory →COM1.61%$16M300.0K
22GOOGLALPHABET INChistory →CAP STK CL A1.56%$16M50.0K
23MSFTMICROSOFT CORPhistory →COM1.45%$15M30.0K
24TERTERADYNE INChistory →COM1.35%$14M70.0K
25APPAPPLOVIN CORPhistory →COM CL A1.35%$13M20.0K
26MODMODINE MFG COhistory →COM1.33%$13M100.0K
27FSLRFIRST SOLAR INChistory →COM1.30%$13M50.0K
28WGSGENEDX HOLDINGS CORPhistory →COM CL A1.30%$13M100.0K
29SHLSSHOALS TECHNOLOGIES GROUP INhistory →CL A1.27%$13M1.50M
30MIRMIRION TECHNOLOGIES INChistory →COM CL A1.17%$12M500.0K
31AIIALMONTY INDS INChistory →COM NEW1.14%$11M1.30M
32AXONAXON ENTERPRISE INChistory →COM1.13%$11M20.0K
33ASML HOLDING N VN Y REGISTRY SHS1.07%$11M10.0K
34RRCRANGE RES CORPhistory →COM1.06%$11M300.0K
35AMATAPPLIED MATLS INChistory →COM1.03%$10M40.0K
36KAROOOOO LTDORD SHS1.02%$10M225.2K
37GARMIN LTDSHS1.01%$10M50.0K
38DOCNDIGITALOCEAN HLDGS INCCOM0.96%$10M200.0K
39HNMORMAT TECHNOLOGIES INCCOM0.88%$9M80.0K
40LRCXLAM RESEARCH CORPCOM NEW0.85%$9M50.0K
41BVBRIGHTVIEW HLDGS INCCOM0.82%$8M650.0K
42HLMNHILLMAN SOLUTIONS CORPCOM0.82%$8M950.0K
43ALNTALLIENT INCCOM0.81%$8M150.0K
44CAMTEK LTDORD0.74%$7M70.0K
45CELLEBRITE DI LTDORDINARY SHARES0.72%$7M400.0K
46CDXSCODEXIS INCCOM0.63%$6M3.85M
47BETABETA TECHNOLOGIES INCCOM SHS CL A0.56%$6M200.0K
48ARMARM HOLDINGS PLCSPONSORED ADS0.55%$5M50.0K
49ASPIASP ISOTOPES INCCOM0.44%$4M825.0K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$1.1B53May 12, 202613F-HRchanges · EDGAR ↗
Q4 2025$1.0B56Feb 11, 202613F-HRchanges · EDGAR ↗
Q3 2025$1.1B47Nov 10, 202513F-HRchanges · EDGAR ↗
Q2 2025$1.1B49Aug 12, 202513F-HRchanges · EDGAR ↗
Q1 2025$764M47May 12, 202513F-HRchanges · EDGAR ↗
Q4 2024$1.0B54Feb 10, 202513F-HRchanges · EDGAR ↗
Q3 2024$990M56Nov 12, 202413F-HRchanges · EDGAR ↗
Q2 2024$1.1B58Aug 9, 202413F-HRchanges · EDGAR ↗
Q1 2024$968M63May 10, 202413F-HRchanges · EDGAR ↗
Q4 2023$671M47Feb 12, 202413F-HRchanges · EDGAR ↗
Q3 2023$659M48Nov 9, 202313F-HRchanges · EDGAR ↗
Q2 2023$737M49Aug 10, 202313F-HRchanges · EDGAR ↗
Q1 2023$673M43May 11, 202313F-HRchanges · EDGAR ↗
Q4 2022$659M38Feb 10, 202313F-HRchanges · EDGAR ↗
Q3 2022$637M39Nov 10, 202213F-HRchanges · EDGAR ↗
Q2 2022$591M39Aug 11, 202213F-HRchanges · EDGAR ↗
Q1 2022$1.1B55May 11, 202213F-HRchanges · EDGAR ↗
Q4 2021$1.4B52Feb 10, 202213F-HRchanges · EDGAR ↗
Q3 2021$1.4B56Nov 12, 202113F-HRchanges · EDGAR ↗
Q2 2021$1.3B68Aug 10, 202113F-HRchanges · EDGAR ↗
Q1 2021$1.2B64May 12, 202113F-HRchanges · EDGAR ↗
Q4 2020$965M52Feb 11, 202113F-HRchanges · EDGAR ↗
Q3 2020$827M59Nov 12, 202013F-HRchanges · EDGAR ↗
Q2 2020$632M56Aug 12, 202013F-HRchanges · EDGAR ↗
Q1 2020$419M46May 12, 202013F-HRchanges · EDGAR ↗
Q4 2019$690M50Feb 12, 202013F-HRchanges · EDGAR ↗
Q3 2019$639M38Nov 14, 201913F-HRchanges · EDGAR ↗
Q2 2019$872M41Aug 14, 201913F-HRchanges · EDGAR ↗
Q1 2019$792M37May 13, 201913F-HRchanges · EDGAR ↗
Q4 2018$487M24Feb 13, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.