Telemark group discloses 5.4% Biodesix (BDSX) position in Schedule 13G filing

Rhea-AI Filing Summary

Biodesix, Inc. (BDSX) received a new ownership disclosure from Telemark-related entities reporting a passive stake in its common stock. Telemark Asset Management, LLC, Telemark Fund, LP, and individual investor Colin S. McNay together report beneficial ownership of 427,824 shares of Biodesix common stock, which they state represents approximately 5.4% of the outstanding shares. All reported shares are held with shared power to vote and dispose, and none with sole voting or dispositive power. The filers certify that the shares were not acquired and are not held for the purpose of changing or influencing control of Biodesix, but rather as a passive investment.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Biodesix, Inc.

(Name of Issuer)

Common stock, par value $0.001 per share

(Title of Class of Securities)

09075X207

(CUSIP Number)

01/22/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 09075X207

1

Names of Reporting Persons

Telemark Asset Management, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 427,824.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 427,824.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

427,824.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.4 %

12

Type of Reporting Person (See Instructions)

IA, OO

SCHEDULE 13G

CUSIP No. 09075X207

1

Names of Reporting Persons

Telemark Fund, LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 427,824.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 427,824.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

427,824.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.4 %

12

Type of Reporting Person (See Instructions)

PN

SCHEDULE 13G

CUSIP No. 09075X207

1

Names of Reporting Persons

Colin S. McNay

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 427,824.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 427,824.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

427,824.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.4 %

12

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Biodesix, Inc.
(b)	Address of issuer's principal executive offices: 919 West Dillon Rd., Louisville, Colorado, 80027
Item 2.
(a)	Name of person filing: This Schedule 13G is being jointly filed by Telemark Asset Management, LLC, Telemark Fund, LP and Colin McNay (collectively, the "Reporting Persons") with respect to shares of Common Stock of Biodesix, Inc. Telemark Asset Management, LLC is the investment adviser of Telemark Fund, LP. Colin McNay is the President and sole owner of Telemark Asset Management, LLC. Each Reporting Person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such Reporting Person is, for the purposes of Section 13(d) or 13(g) of the Act or any other purpose, the beneficial owner of any securities covered by this statement other than the securities actually owned by such person (if any).
(b)	Address or principal business office or, if none, residence: The address of the principal office of each Reporting Person is: One International Place, Suite 4620 Boston, MA 02110
(c)	Citizenship: Telemark Asset Management, LLC is a Delaware limited liability company, and Telemark Fund, LP is a Delaware limited partnership. Colin McNay is a U.S. citizen.
(d)	Title of class of securities: Common stock, par value $0.001 per share
(e)	CUSIP No.: 09075X207
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: Each Reporting Person may be deemed to beneficially own 427,824 shares.
(b)	Percent of class: Each Reporting Person may be deemed to beneficially own what constitutes approximately 5.4% of the shares outstanding.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: Shared power to vote or to direct the vote: 427,824 shares
	(iii) Sole power to dispose or to direct the disposition of: Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: Shared power to dispose or to direct the disposition of: 427,824 shares
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Telemark Asset Management, LLC

Signature:	/s/ Brian C. Miley
Name/Title:	Brian C. Miley, Chief Financial Officer
Date:	01/26/2026

Telemark Fund, LP

Signature:	By: Telemark Asset Management, LLC, investment adviser, /s/ Brian C. Miley
Name/Title:	Brian C. Miley, Chief Financial Officer
Date:	01/26/2026

Colin S. McNay

Signature:	/s/ Colin S. McNay
Name/Title:	Colin S. McNay, President and sole owner of Telemark Asset Management, LLC
Date:	01/26/2026

Exhibit Information

Exhibit 99.1 - Joint Filing Agreement

FAQ

What ownership stake in Biodesix, Inc. (BDSX) is reported in this Schedule 13G?

The filing states that the reporting persons collectively may be deemed to beneficially own 427,824 shares of Biodesix, Inc. common stock, representing approximately 5.4% of the outstanding shares.

Who are the reporting persons in this Biodesix (BDSX) Schedule 13G filing?

The Schedule 13G is jointly filed by Telemark Asset Management, LLC, Telemark Fund, LP, and Colin S. McNay, who are referred to collectively as the reporting persons.

Is the Telemark position in Biodesix (BDSX) a passive investment or an attempt to influence control?

The reporting persons certify that the securities were not acquired and are not held for the purpose of changing or influencing the control of Biodesix, and are not held in connection with any transaction having that purpose or effect, other than activities solely in connection with a nomination under Rule 240.14a-11.

How is voting and dispositive power over Biodesix (BDSX) shares allocated among the reporting persons?

Each reporting person reports 0 shares with sole voting and dispositive power and 427,824 shares with shared voting and shared dispositive power over Biodesix common stock.

What roles do Telemark Asset Management, LP and Colin S. McNay play in this Biodesix (BDSX) holding?

The filing states that Telemark Asset Management, LLC is the investment adviser to Telemark Fund, LP, and Colin S. McNay is the president and sole owner of Telemark Asset Management, LLC.

Do the reporting persons admit full beneficial ownership of all reported Biodesix (BDSX) shares?

The filing explains that each reporting person declares that neither the filing of the statement nor anything in it should be construed as an admission that such person is the beneficial owner of any securities other than those actually owned by that person, if any.