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Telemark Asset Management, LLC

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13F filer, CIK 1420816, BOSTON, MA

Telemark Asset Management, LLC reported $1,053,571,435 across 47 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-11-10. Its ten largest share positions make up 48.89% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0000898432-25-000879

Period
2025-09-30
Reported value
$1.05B
Holdings
47
Top 10 weight
48.89%
New
8
Sold out
10

Largest buys vs the previous quarter

SecurityShares changeApprox. value
WGSnew+120,000$12.9M
MRNAnew+500,000$12.9M
FNVadded+50,000$11.1M
NOVTadded+100,000$10M
TWLOadded+100,000$10M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
BAexited-100,000-$21M
MTexited-400,000-$12.6M
OSISexited-50,000-$11.2M
BILLexited-200,000-$9.25M
ARMreduced-50,000-$7.07M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q3 2025

Share positions as resolved from 13F-HR 0000898432-25-000879, largest first. % of portfolio is the value over $1,053,571,435, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
NVDANVIDIA CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,150,000 shares; 2024Q4: 1,150,000 shares; 2025Q1: 800,000 shares; 2025Q2: 600,000 shares; 2025Q3: 600,000 shares 600,000$112M10.63%0Timeline
CCJCAMECO CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,300,000 shares; 2024Q4: 1,300,000 shares; 2025Q1: 1,000,000 shares; 2025Q2: 1,000,000 shares; 2025Q3: 1,000,000 shares 1,000,000$83.9M7.96%0Timeline
CSGPCOSTAR GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 500,000 shares; 2024Q4: 400,000 shares; 2025Q1: 500,000 shares; 2025Q2: 550,000 shares; 2025Q3: 550,000 shares 550,000$46.4M4.4%0Timeline
HEIHEICO CORP NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 140,000 shares; 2024Q4: 140,000 shares; 2025Q1: 140,000 shares; 2025Q2: 140,000 shares; 2025Q3: 140,000 shares 140,000$45.2M4.29%0Timeline
METAMETA PLATFORMS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 50,000 shares; 2024Q4: 50,000 shares; 2025Q1: 35,000 shares; 2025Q2: 60,000 shares; 2025Q3: 60,000 shares 60,000$44.1M4.18%0Timeline
AMZNAMAZON COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 250,000 shares; 2024Q4: 250,000 shares; 2025Q1: 200,000 shares; 2025Q2: 200,000 shares; 2025Q3: 200,000 shares 200,000$43.9M4.17%0Timeline
AMSCAMERICAN SUPERCONDUCTOR CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 600,000 shares; 2024Q4: 600,000 shares; 2025Q1: 600,000 shares; 2025Q2: 690,000 shares; 2025Q3: 690,000 shares 690,000$41M3.89%0Timeline
TSMTAIWAN SEMICONDUCTOR MANUFACQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 100,000 shares; 2024Q4: 150,000 shares; 2025Q1: 120,000 shares; 2025Q2: 120,000 shares; 2025Q3: 120,000 shares 120,000$33.5M3.18%0Timeline
FNVFRANCO NEV CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 50,000 shares; 2024Q4: not reported; 2025Q1: 100,000 shares; 2025Q2: 100,000 shares; 2025Q3: 150,000 shares 150,000$33.4M3.17%+50,000Timeline
HEI-AHEICO CORP NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 125,000 shares; 2024Q4: 125,000 shares; 2025Q1: 125,000 shares; 2025Q2: 125,000 shares; 2025Q3: 125,000 shares 125,000$31.8M3.01%0Timeline
WCNWASTE CONNECTIONS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 70,000 shares; 2024Q4: 70,000 shares; 2025Q1: 150,000 shares; 2025Q2: 150,000 shares; 2025Q3: 150,000 shares 150,000$26.4M2.5%0Timeline
CLHCLEAN HARBORS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 130,000 shares; 2024Q4: 130,000 shares; 2025Q1: 110,000 shares; 2025Q2: 110,000 shares; 2025Q3: 110,000 shares 110,000$25.5M2.42%0Timeline
NOVTNOVANTA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 100,000 shares; 2024Q4: 160,000 shares; 2025Q1: 90,000 shares; 2025Q2: 150,000 shares; 2025Q3: 250,000 shares 250,000$25M2.38%+100,000Timeline
GRMNGARMIN LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 135,000 shares; 2024Q4: 135,000 shares; 2025Q1: 120,000 shares; 2025Q2: 100,000 shares; 2025Q3: 100,000 shares 100,000$24.6M2.34%0Timeline
ADIANALOG DEVICES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 50,000 shares; 2024Q4: 50,000 shares; 2025Q1: 100,000 shares; 2025Q2: 80,000 shares; 2025Q3: 100,000 shares 100,000$24.6M2.33%+20,000Timeline
TRMBTRIMBLE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 60,000 shares; 2025Q1: 250,000 shares; 2025Q2: 300,000 shares; 2025Q3: 300,000 shares 300,000$24.5M2.32%0Timeline
EQTEQT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 300,000 shares; 2025Q1: 400,000 shares; 2025Q2: 500,000 shares; 2025Q3: 450,000 shares 450,000$24.5M2.32%-50,000Timeline
BWXTBWX TECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 100,000 shares; 2024Q4: 100,000 shares; 2025Q1: 100,000 shares; 2025Q2: 100,000 shares; 2025Q3: 125,000 shares 125,000$23M2.19%+25,000Timeline
RRCRANGE RES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 400,000 shares; 2025Q1: 700,000 shares; 2025Q2: 700,000 shares; 2025Q3: 600,000 shares 600,000$22.6M2.14%-100,000Timeline
AXONAXON ENTERPRISE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 30,000 shares; 2024Q4: 30,000 shares; 2025Q1: 30,000 shares; 2025Q2: 30,000 shares; 2025Q3: 30,000 shares 30,000$21.5M2.04%0Timeline
TWLOTWILIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 50,000 shares; 2025Q1: not reported; 2025Q2: 100,000 shares; 2025Q3: 200,000 shares 200,000$20M1.9%+100,000Timeline
GLWCORNING INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 400,000 shares; 2024Q4: 400,000 shares; 2025Q1: 200,000 shares; 2025Q2: 240,000 shares; 2025Q3: 240,000 shares 240,000$19.7M1.87%0Timeline
SHOPSHOPIFY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 100,000 shares; 2025Q3: 130,000 shares 130,000$19.3M1.83%+30,000Timeline
MCHPMICROCHIP TECHNOLOGY INC.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 200,000 shares; 2025Q3: 300,000 shares 300,000$19.3M1.83%+100,000Timeline
BVBRIGHTVIEW HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 800,000 shares; 2024Q4: 850,000 shares; 2025Q1: 900,000 shares; 2025Q2: 1,150,000 shares; 2025Q3: 1,150,000 shares 1,150,000$15.4M1.46%0Timeline
WGSGENEDX HOLDINGS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 100,000 shares; 2025Q2: not reported; 2025Q3: 120,000 shares 120,000$12.9M1.23%newTimeline
FFIVF5 INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 60,000 shares; 2024Q4: 80,000 shares; 2025Q1: 60,000 shares; 2025Q2: 40,000 shares; 2025Q3: 40,000 shares 40,000$12.9M1.23%0Timeline
MRNAMODERNA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 500,000 shares 500,000$12.9M1.23%newTimeline
KAROKAROOOOO LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 225,150 shares; 2025Q3: 225,150 shares 225,150$12.9M1.22%0Timeline
ASPIASP ISOTOPES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,700,000 shares; 2024Q4: 1,475,000 shares; 2025Q1: 1,475,000 shares; 2025Q2: 1,425,000 shares; 2025Q3: 1,325,000 shares 1,325,000$12.7M1.21%-100,000Timeline
ASPNASPEN AEROGELS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,492,424 shares; 2024Q4: 1,892,424 shares; 2025Q1: 1,892,424 shares; 2025Q2: 1,792,424 shares; 2025Q3: 1,792,424 shares 1,792,424$12.5M1.18%0Timeline
GOOGLALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 60,000 shares; 2025Q1: 80,000 shares; 2025Q2: 30,000 shares; 2025Q3: 50,000 shares 50,000$12.2M1.15%+20,000Timeline
KOPNKOPIN CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 3,000,000 shares; 2025Q2: 4,000,000 shares; 2025Q3: 5,000,000 shares 5,000,000$12.2M1.15%+1,000,000Timeline
MIRMIRION TECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 400,000 shares; 2024Q4: 500,000 shares; 2025Q1: 500,000 shares; 2025Q2: 500,000 shares; 2025Q3: 500,000 shares 500,000$11.6M1.1%0Timeline
CLBTCELLEBRITE DI LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 400,000 shares; 2024Q4: 500,000 shares; 2025Q1: 500,000 shares; 2025Q2: 500,000 shares; 2025Q3: 600,000 shares 600,000$11.1M1.06%+100,000Timeline
CDXSCODEXIS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,696,411 shares; 2024Q4: 3,000,000 shares; 2025Q1: 3,000,000 shares; 2025Q2: 4,000,000 shares; 2025Q3: 4,000,000 shares 4,000,000$9.76M0.93%0Timeline
TERTERADYNE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 70,000 shares 70,000$9.63M0.91%newTimeline
HLMNHILLMAN SOLUTIONS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 750,000 shares; 2024Q4: 900,000 shares; 2025Q1: 1,000,000 shares; 2025Q2: 1,000,000 shares; 2025Q3: 1,000,000 shares 1,000,000$9.18M0.87%0Timeline
SNOWSNOWFLAKE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 40,000 shares 40,000$9.02M0.86%newTimeline
ALMALMONTY INDS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 1,300,000 shares 1,300,000$7.84M0.74%newTimeline
SHLSSHOALS TECHNOLOGIES GROUP INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 500,000 shares; 2025Q3: 1,000,000 shares 1,000,000$7.41M0.7%+500,000Timeline
ARMARM HOLDINGS PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 150,000 shares; 2024Q4: 150,000 shares; 2025Q1: 100,000 shares; 2025Q2: 100,000 shares; 2025Q3: 50,000 shares 50,000$7.07M0.67%-50,000Timeline
MSFTMICROSOFT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 20,000 shares; 2024Q4: 30,000 shares; 2025Q1: not reported; 2025Q2: 10,000 shares; 2025Q3: 10,000 shares 10,000$5.18M0.49%0Timeline
ASMLASML HLDG NVQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 10,000 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 10,000 shares; 2025Q3: 4,000 shares 4,000$3.87M0.37%-6,000Timeline
LRCXLAM RESEARCH CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 25,000 shares 25,000$3.35M0.32%newTimeline
CAMTCAMTEK LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 30,000 shares 30,000$3.15M0.3%newTimeline
BDSXBIODESIX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 414,124 shares 414,124$3.13M0.3%newTimeline

Sold out in Q3 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
INVESCO QQQ TRINVESCO QQQ TR290,000$160Mput
BABOEING CO100,000$21Mshares
MTARCELORMITTAL SA LUXEMBOURG400,000$12.6Mshares
OSISOSI SYSTEMS INC50,000$11.2Mshares
BILLBILL HOLDINGS INC200,000$9.25Mshares
NXTNEXTPOWER INC100,000$5.44Mshares
ARRYARRAY TECHNOLOGIES INC500,000$2.95Mshares
DORMDORMAN PRODS INC20,000$2.45Mshares
BIODESIX INCBIODESIX INC8,282,490$2.34Mshares
ARBEARBE ROBOTICS LTD1,150,000$2.05Mshares

How Q3 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0000898432-25-000879 base2025-11-10acceptance time not in the bulk data set