Telemark Asset Management

Telemark Asset Management as of Sept. 30, 2011

Portfolio Holdings for Telemark Asset Management

Telemark Asset Management holds 31 positions in its portfolio as reported in the September 2011 quarterly 13F filing

Company (Ticker) Portfolio Weight Valued At Change in Shares Share Count Share Price
SPDR Gold Trust (GLD) 15.2 $32M 200k 158.06
ARM Holdings 10.4 $22M 850k 25.50
Amazon (AMZN) 9.3 $20M 90k 216.23
Goldcorp 8.8 $18M 400k 45.64
Apple (AAPL) 7.3 $15M 40k 381.32
Clean Harbors (CLH) 4.9 $10M 200k 51.30
Golar Lng (GLNG) 4.6 $9.5M 300k 31.78
Franco-Nevada Corporation (FNV) 4.3 $9.0M 250k 36.11
Arm Holdings Plc equity 4.0 $8.4M 950k 8.79
Cepheid 3.7 $7.8M 200k 38.83
Royal Gold (RGLD) 3.7 $7.7M 120k 64.06
Barrick Gold Corp (GOLD) 3.4 $7.0M 150k 46.65
Eldorado Gold Corp 2.5 $5.1M 300k 17.14
Newmont Mining Corporation (NEM) 2.1 $4.4M 70k 62.96
HMS Holdings 1.8 $3.7M 150k 24.39
Heartland Express (HTLD) 1.6 $3.4M 250k 13.56
ACCRETIVE Health 1.5 $3.2M 150k 21.23
Canadian Natural Resources (CNQ) 1.4 $2.9M 100k 29.27
Landstar System (LSTR) 1.3 $2.8M 70k 39.56
J.B. Hunt Transport Services (JBHT) 1.2 $2.5M 70k 36.11
Occidental Petroleum Corporation (OXY) 1.0 $2.1M 30k 71.50
Old Dominion Freight Line (ODFL) 1.0 $2.0M 70k 28.97
Assisted Living Concepts 0.9 $1.9M 150k 12.67
Minefinders 0.8 $1.7M 125k 13.92
Waste Connections 0.8 $1.7M 50k 33.82
Werner Enterprises (WERN) 0.8 $1.7M 80k 20.82
Agnico (AEM) 0.6 $1.2M 20k 59.50
Iamgold Corp (IAG) 0.5 $989k 50k 19.78
EOG Resources (EOG) 0.3 $710k 10k 71.00
Celadon (CGIP) 0.2 $444k 50k 8.88
Universal Truckload Services (ULH) 0.0 $18k 1.4k 12.92