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 potential of Advanced Energy Industries, Inc. (NASDAQ:AEIS) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
