What smart money is saying about Advanced Energy Industries
3 funds in our archive have pitched Advanced Energy Industries, most recently Tributary Capital Management Small/Mid Cap Strategy in September 2026.
Advanced Energy Industries, Inc. (AEIS) is a global leader in the design, production, sale, and support of sophisticated power conversion, measurement, and control systems. The company specializes in plasma power technologies, providing a range of solutions such as direct current (DC), pulsed DC, low-frequency alternating current (LF AC), high-voltage, and radio frequency (RF) power supplies, alongside RF matching networks, RF instrumentation products, and remote plasma sources engineered for reactive gas applications. AEIS also supplies power control modules and thermal instrumentation, which are crucial for processes including rapid thermal processing, chemical vapor deposition, epitaxy, crystal growing, chemical processing, and in the manufacturing of metal, carbon fiber, and glass, as well as various other industrial power requirements. Its portfolio encompasses high-voltage DC-DC products, essential for semiconductor wafer processing and metrology, electrostatic substrate clamping, scientific instrumentation, mass spectrometry, and X-ray systems utilized in industrial and analytical fields. Additionally, low-voltage DC-DC board-mounted solutions are provided, serving applications in healthcare, telecommunications, test and measurement, instrumentation, industrial equipment, and distributed power systems for servers and storage. The company further develops gas sensing and monitoring products for the energy sector, air quality surveillance, and automotive emission testing. It also offers embedded power solutions specifically designed for medical equipment or compliant with IEC 60950-1 standards for information technology devices. Beyond its product offerings, AEIS provides comprehensive services such as conversions, upgrades, refurbishments, and the sale of pre-owned equipment, alongside dedicated repair services to its clientele. Distribution of its products occurs through a multi-channel approach, including a direct sales team, independent sales representatives, channel partners, and a network of distributors. Established in 1981, Advanced Energy Industries, Inc. maintains its corporate headquarters in Denver, Colorado.
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Position history
Between Q4 2024 and Q3 2026, 10 fund letters reported a position in Advanced Energy Industries, with 1 buy (opened or added) and 1 sell (trimmed or exited).
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 5 | 1 | 0 | 1 |
| Q2 2026 | 3 | 0 | 1 | 0 |
| Q1 2026 | 2 | 0 | 0 | 1 |
| Q4 2024 | 0 | 0 | 0 | 1 |
Bought and Sold count moves: the same sentence published by several funds of one house in a quarter counts once.
Fund activity · 10 positions · 3 moves
- September 2026
“Advanced Energy Industries United States 3.3 Electronic Equipment, Instruments & Components”
Advanced Energy Industries - September 2026
“Detractors included Curtiss-Wright Corp., Advanced Energy Industries, Inc., and Vertiv Holdings.”
Advanced Energy Industries - September 2026
“During the third quarter five holdings were added to the portfolio.”
Advanced Energy Industries - September 2026
“Advanced Energy Industries, a provider of precision power conversion technologies, posted a strong quarter, raised full-year guidance and offered encouraging initial fiscal year 2027 growth commentary; however, the stock faced headwinds as investor sentiment around the artificial intelligence trade softened, particularly for companies with significant data center exposure.”
Advanced Energy Industries - September 2026
“Advanced Energy Industries, Inc., a provider of precision power conversion products for semiconductor equipment and data centers, declined during the quarter The Small-Company Stock Fund declined in the third quarter and underperformed its benchmark, the Russell 2000 Index. On the plus side, stock selection in the health care sector was the top contributor to relative results, led by the fund's biotechnology holdings. Stock selection among software companies within information technology also helped. In terms of individual holdings, the stocks that made the largest contributions to relative performance were: Integer Holdings Corp., a leading contract manufacturer of medical devices, rose in late July on reports that private equity firm KKR was nearing a deal to acquire the company, which was confirmed in early August as an all-cash transaction. The agreement concluded a strategic review the board had launched in the spring. With the shares subsequently trading close to the agreed price, and with the outcome now tied to the completion of the transaction rather than to the company’s operating progress, we believed the capital could be better deployed elsewhere in the portfolio. We have exited the position. Twist Bioscience Corp., a synthetic biology tools company and a recent addition to the fund, uses a proprietary silicon-based platform to manufacture synthetic DNA at scale. The shares rose after the company reported another record quarter, raised its full-year revenue outlook, and strengthened its balance sheet through an equity offering. Momentum built as artificial intelligence (AI) developer Anthropic selected Twist as an independent evaluator to produce and test AI-designed proteins, and as Eli Lilly added Twist as an antibody-data provider for its TuneLab AI drug discovery platform — both of which relate to AI-enabled research. We believe Twist could benefit as drug discovery becomes increasingly data-intensive, and we are watching for continued progress toward the company’s profitability milestones. Following the stock’s move, we will continue to manage the position with discipline. CACI International Inc., a provider of national security technology and mission expertise to U.S. defense, intelligence, and civilian agencies, rose after reporting fiscal fourth-quarter earnings well ahead of expectations and issuing an initial fiscal 2027 earnings outlook above expectations. Strong growth in funded backlog — the portion of contract value for which funding has been appropriated — lends support to that outlook. During the quarter, the company also won new work in counter- drone defense and in mission support for U.S. Central Command. We believe CACI’s long-standing customer relationships, security-cleared workforce, and growing mix of software-defined technology could allow it to benefit from sustained national security spending priorities. Small-Company Stock Fund Performance Review | Third Quarter 2026 homesteadfunds.com | 1 despite strong operating results. The company reported record second-quarter results that exceeded the high end of its guidance and raised its full-year outlook, citing record semiconductor revenue and accelerating hyperscale data center programs. However, the shares were caught in repeated sell-offs across semiconductor and AI infrastructure stocks, driven at various points by concerns about memory chip pricing, Chinese competition, potential tariffs on servers, and rising interest rates. We believe this weakness reflects shifting sentiment toward AI-related stocks more than a change in the company’s fundamentals. We continue to own Advanced Energy for its position at the intersection of semiconductor and AI data center growth, supported by new products that are ramping and additional manufacturing capacity coming online.”
Advanced Energy Industries - TrimmedBaron Discovery FundJune 2026
“Top net sales for the quarter Year Acquired Market Cap When Acquired ($B) Quarter End Market Cap or Market Cap When Sold ($B) Net Amount Sold ($M) Establishment Labs Holdings Inc. 2022 1.9 2.5 40.1 Advanced Energy Industries, Inc. 2019 2.6 14.2 34.9 Birkenstock Holding plc 2025 9.6 8.1 32.7 SiTime Corporation 2023 2.3 19.7 27.6 Alkami Technology Inc. 2021 3.6 1.8 27.3 Establishment Labs Holdings Inc. sells next-generation Motiva breast implants that have meaningfully lower safety risks and aesthetic benefits compared to competitors. Shares outperformed in the second quarter, driven by continued strong adoption of Motiva in the U.S. breast augmentation market and anticipation of the upcoming launch in the U.S. breast reconstruction market. Additionally, the macro consumer spending anxieties and silicone supplier contract fears that weighed on the stock last quarter have notably eased. Positive momentum was further amplified by the company's official inclusion in the Russell 2000 Index, which drives increased institutional visibility and index-related buying. This caused significant upward share price movement, and we trimmed our investment based upon shares nearing our long-term valuation targets. We believe Establishment Labs will capture substantial plurality share in the U.S. over the next few years, which is meaningfully reflected in the shares. There is further upside if Establishment Labs is successful in launching its new minimally invasive products which promise easier procedures and faster healing times for its patients. Advanced Energy Industries, Inc. is a designer and manufacturer of power components that ensure precision power delivery for end market applications including semiconductor manufacturing, medical procedures and data center equipment. We were meaningful buyers between $50 and $110 during calendar years 2020 and 2021 when the company was trading at very low multiples and its strategic value was unrecognized. In the quarter we sold about 60% of our investment at $375, on the back of excitement about the growth in AI data center buildouts.”
Advanced Energy Industries - TrimmedBaron Discovery StrategyJune 2026
“Advanced Energy Industries, Inc. is a designer and manufacturer of power components that ensure precision power delivery for end-market applications including semiconductor manufacturing, medical procedures and data center equipment. We were meaningful buyers between $50 and $110 during calendar years 2020 and 2021 when the company was trading at very low multiples and its strategic value was unrecognized. In the quarter we sold about 60% of our investment at $375, on the back of excitement about the growth in AI data center buildouts.”
Advanced Energy Industries - June 2026
Listed in Homestead Advisers Funds’s reported holdings.
Advanced Energy Industries - March 2026
“Portfolio Commentary In the first quarter of 2026 the Large Cap Equity composite eked out a gain of 0.57% net of fees compared to a loss of 4.33% for the S&P 500. What became clear is that companies with strong backlogs of customer business were rewarded and those with more economically sensitive customers underperformed. The best contributors were led by Vertiv Holdings Co., Advanced Energy Industries, Inc., and Curtiss- Wright Corporation.”
Advanced Energy Industries - March 2026
“Portfolio Commentary In the first quarter of 2026 the Select Equity composite eked out a gain of 1.17% net of fees compared to a loss of 4.33% for the S&P 500. What became clear is that companies with strong backlogs of customer business were rewarded and those with more economically sensitive customers underperformed. The best contributors were led by Vertiv Holdings Co., Advanced Energy Industries, Inc., and Curtiss- Wright Corporation.”
Advanced Energy Industries
Fund coverage · 3 theses
- Tributary Capital Management Small/Mid Cap StrategySeptember 2026
Advanced Energy Industries is a power conversion specialist with leading market positions and a path to $3 billion in revenue through growth, M&A, and margin expansion.
Read the full thesis - Baron Discovery FundMarch 2026
Advanced Energy Industries designs power conversion products with AI-driven data center tailwinds, new semi offerings, and multi-year growth and margin expansion potential.
Read the full thesis - SouthernSun Small CapDecember 2024
Advanced Energy Industries, Inc. (AEIS) is a market leader in power conversion solutions, particularly for the semiconductor industry, with a strong focus on customized products and strategic acquisitions to enhance efficiency and profitability.
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