Hardman Johnston Global Advisors, an investment management firm, issued its investor letter for the Hardman Johnston Large Cap Equity Strategy for the first quarter of 2026. A copy of the letter can be downloaded here. The strategy achieved a return of 0.68% (gross) and 0.57% (net) during this period, in contrast to a -4.33% return for the S&P 500 Total Return Index. Companies with robust backlogs of customer business were rewarded, while those with more economically sensitive clients faced underperformance. Looking beyond the immediate disruptions, the firm believes the overall outlook for the U.S. economy remains positive. Please review the Strategy’s top five holdings to gain insights into their key selections for 2026.
In its first-quarter 2026 investor letter, Hardman Johnston Large Cap Equity Strategy highlighted Advanced Energy Industries, Inc. (NASDAQ:AEIS) as one of its leading contributors. Advanced Energy Industries, Inc. (NASDAQ:AEIS) is a leading precision power conversion, measurement, and control solutions provider for semiconductor equipment and data centers. On July 1, 2026, Advanced Energy Industries, Inc. (NASDAQ:AEIS) closed at $356.35 per share, reflecting a market capitalization of $14.26 billion. Advanced Energy Industries, Inc. (NASDAQ:AEIS) posted a one-month return of 11.04%, and its shares gained 157.96% over the past 52 weeks.
Hardman Johnston Large Cap Equity Strategy stated the following regarding Advanced Energy Industries, Inc. (NASDAQ:AEIS) in its Q1 2026 investor letter:
“The best contributors were led by Vertiv Holdings Co., Advanced Energy Industries, Inc. (NASDAQ:AEIS), and Curtiss Wright Corporation. All three saw customer order growth adding to already strong backlogs in their respective fields of computing infrastructure, and aerospace/nuclear power. We continue to monitor their business closely for cracks in the foundation but remain confident that they are essential to customers and the prospects for growth are solid.”
Advanced Energy Industries, Inc. (NASDAQ:AEIS) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 45 hedge fund portfolios held Advanced Energy Industries, Inc. (NASDAQ:AEIS) at the end of the first quarter, up from 27 in the previous quarter. While we acknowledge the risk and potential of Advanced Energy Industries, Inc. (NASDAQ:AEIS) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than Advanced Energy Industries, Inc. (NASDAQ:AEIS) and that has 10,000% upside potential, check out our report about this cheapest AI stock.
In another article, we covered Advanced Energy Industries, Inc. (NASDAQ:AEIS) and shared Aristotle Small Cap Equity Fund’s views on the company. In addition, please check out our hedge fund investor letters Q1 2026 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
