1y return+30.8%S&P 500 +20.9%
3y return+90.5%S&P 500 +68.5%
5y return+63.7%S&P 500 +74.5%
10y return+325.2%S&P 500 +256.5%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since June 30, 2016: $425 against $357 in the S&P 500.2
Telemark Asset Management, LLCS&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| NVDANvidia Corporation | $120.1M | 8.7% | |
| CCJCameco Corp | $91.7M | 6.6% | |
| NOVTNovanta Inc | $69.0M | 5.0% | +13.3% |
| HEIHeico Corp New | $49.9M | 3.6% | |
| MRNAModerna Inc | $49.0M | 3.5% | +40.0% |
| TSMTaiwan Semiconductor Manufac | $47.8M | 3.5% | |
| AMZNAmazon Com Inc | $47.7M | 3.4% | |
| GLWCorning Inc | $42.1M | 3.0% | −17.5% |
| HALHalliburton Co | $40.7M | 2.9% | |
| TERTeradyne Inc | $36.3M | 2.6% | +7.1% |
| WCNWaste Connections Inc | $33.3M | 2.4% | +100.0% |
| HEI/AHeico Corp New | $32.2M | 2.3% | |
| CATCaterpillar Inc | $31.9M | 2.3% | |
| DOCNDigitalocean Hldgs Inc | $31.4M | 2.3% | |
| KOPNKopin Corp | $31.4M | 2.3% | |
| CLHClean Harbors Inc | $29.9M | 2.2% | |
| PLTRPalantir Technologies Inc | $29.2M | 2.1% | +25.0% |
| SLBSlb Limited | $27.9M | 2.0% | |
| ADIAnalog Devices Inc | $27.8M | 2.0% | |
| AMSCAmerican Superconductor Corp | $24.9M | 1.8% | |
| TXNTexas Instrs Inc | $23.8M | 1.7% | |
| BKRBaker Hughes Company | $22.2M | 1.6% | |
| AMATApplied Matls Inc | $21.7M | 1.6% | −25.0% |
| FNVFranco Nev Corp | $20.8M | 1.5% | |
| ALNTAllient Inc | $20.6M | 1.5% | +33.3% |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| NVDANvidia Corporation | March 31, 2023 | +620.3% | $120.1M |
| GLWCorning Inc | June 30, 2024 | +557.5% | $42.1M |
| AXONAxon Enterprise Inc | June 30, 2020 | +471.3% | $11.2M |
| TSMTaiwan Semiconductor Manufac | March 31, 2023 | +413.4% | $47.8M |
| KOPNKopin Corp | March 31, 2025 | +380.6% | $31.4M |
| CCJCameco Corp | September 30, 2022 | +284.3% | $91.7M |
| HEIHeico Corp New | June 30, 2020 | +257.4% | $49.9M |
| TERTeradyne Inc | September 30, 2025 | +251.5% | $36.3M |
| DOCNDigitalocean Hldgs Inc | December 31, 2025 | +226.3% | $31.4M |
| LRCXLam Research Corp | September 30, 2025 | +223.6% | $17.3M |
Sold off last quarter
- Camtek LtdCUSIP M20791105 was $10.6M
- EPACEnerpac Tool Group Corp was $3.6M
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +20.9% | +14.8% |
| March 31, 2026 | +2.0% | −4.6% |
| December 31, 2025 | −2.6% | +2.4% |
| September 30, 2025 | +8.8% | +7.8% |
| June 30, 2025 | +21.0% | +10.5% |
| March 31, 2025 | −13.7% | −4.6% |
| December 31, 2024 | −0.8% | +2.1% |
| September 30, 2024 | −1.3% | +5.4% |
| June 30, 2024 | +10.6% | +4.0% |
| March 31, 2024 | +19.7% | +10.0% |
| December 31, 2023 | +12.9% | +11.2% |
| September 30, 2023 | −4.7% | −3.6% |
| June 30, 2023 | +3.8% | +8.3% |
| March 31, 2023 | +2.3% | +7.0% |
| December 31, 2022 | +5.4% | +7.1% |
| September 30, 2022 | +4.2% | −5.3% |
| June 30, 2022 | −21.0% | −16.5% |
| March 31, 2022 | −12.5% | −4.9% |
| December 31, 2021 | +2.2% | +10.7% |
| September 30, 2021 | +4.3% | +0.3% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: Telemark Asset Management, LLC Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1420816&type=13F-HR&dateb=&owner=include&count=40CIK 1420816
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1420816/000089843226000612/Filed August 10, 2026 · accession 0000898432-26-000612