
What smart money is saying about Align Technology, Inc.
3 funds in our archive have pitched Align Technology, Inc., most recently Sequoia Fund in December 2025.
Align Technology, Inc., a medical device company, designs, manufactures, and markets Invisalign clear aligners and iTero intraoral scanners and services for orthodontists and general practitioner dentists, and restorative and aesthetic dentistry. It operates in two segments, Clear Aligner; and Scanners and Services. The Clear Aligner segment consists of comprehensive products, including Invisalign comprehensive treatment that addresses the orthodontic needs of teenage patients, such as mandibular advancement, compliance indicators, and compensation for tooth eruption; and Invisalign First Phase I and Invisalign First Comprehensive Phase 2 package for younger patients generally between the ages of seven and ten years, which is a mixture of primary/baby and permanent teeth. This segment's non-comprehensive products comprise Invisalign moderate, lite and express packages, and Invisalign go; and non-case products include retention products, Invisalign training fees, and sales of ancillary products, such as cleaning material, and adjusting tools used by dental professionals during the course of treatment. The Scanners and Services segment offers iTero scanner, a single hardware platform with software options for restorative or orthodontic procedures; restorative software for general practitioner dentists, prosthodontists, periodontists, and oral surgeons; and software for orthodontists for digital records storage, orthodontic diagnosis, and for the fabrication of printed models and retainers. This segment also provides computer-aided design and computer-aided manufacturing services; ancillary products, such as disposable sleeves for the wand; iTero model and dies; third party scanners and digital scans; Invisalign outcome simulator, a chair-side and cloud-based application for the iTero scanner; Invisalign progress assessment tool; and TimeLapse technology, which allows doctors or practitioners to compare a patient's historic 3D scans to the present-day scan. The company sells its products in the United States, Switzerland, China, and internationally. Align Technology, Inc. was incorporated in 1997 and is headquartered in Tempe, Arizona.
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Position history
Between Q2 2025 and Q2 2026, 7 fund letters reported a position in Align Technology, Inc., with 2 buys (opened or added) and 1 sell (trimmed or exited).
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q2 2026 | 1 | 0 | 0 | 0 |
| Q1 2026 | 3 | 0 | 0 | 0 |
| Q4 2025 | 0 | 0 | 0 | 1 |
| Q3 2025 | 2 | 1 | 1 | 1 |
| Q2 2025 | 1 | 1 | 0 | 1 |
Bought and Sold count moves: the same sentence published by several funds of one house in a quarter counts once.
Fund activity · 7 positions · 3 moves
- June 2026
“Within Healthcare, Globus Medical and Align Technology both incurred modest drawdowns during the quarter.”
Align Technology, Inc. - HoldsCambiar SMID FundMarch 2026
“As of 3.31.26, the Cambiar SMID Fund had 2.6% weighting in Align Technology,”
Align Technology, Inc. - March 2026
Listed in HL Global Small Companies Equity’s reported holdings.
Align Technology, Inc. - March 2026
Listed in Cambiar Smid Cap fund’s reported holdings.
Align Technology, Inc. - September 2025
“ We added to Align Technology (ALGN) and Elevance Health (ELV) in Health Care and trimmed Illumina (ILMN).”
Align Technology, Inc. - ExitedVela Small Cap FundSeptember 2025
“Dental device company, Align Technology, Inc. (ALGN), reported disappointing Q2 results, with weaker than expected case growth due to macro and tariff uncertainty. In addition to these headwinds, market share concerns persist. We sold the position to harvest losses for tax purposes ahead of the end of the fiscal year.”
Align Technology, Inc. - New positionArtisan US Mid Cap Value StrategyJune 2025
“We initiated our position at $150 per share.”
Align Technology, Inc.
Also mentioned · 1
These funds discuss Align Technology, Inc. as a competitor, benchmark or comparable, without disclosing a position in it.
- MentionedLRT Capital ManagementJune 2025
“The labor market corroborates this weakness. Over the past three months, employment growth has averaged a paltry 35,000—the worst reading since the pandemic-induced collapse. On a micro level, corporate earnings reports confirm the trend. Align Technology (maker of Invisalign), a bellwether for discretionary consumer spending, has reported slowing sales.”
Align Technology, Inc.
Fund coverage · 3 theses
- Sequoia FundDecember 2025
Align Technology is the leader in clear aligners with a durable solutions-based moat, strong cash generation, and attractive valuation amid cyclical softness and rising competition.
Read the full thesis - Cambiar Smal Cap FundSeptember 2025
Align is the leading clear aligner manufacturer with unmatched scale and strong balance sheet, trading at an attractive valuation with long-term growth intact.
Read the full thesis - Artisan US Mid Cap Value StrategyJune 2025
Align Technology is a medical device company specializing in Invisalign clear aligners, which we view as a high-quality investment opportunity acquired at a reasonable price following market volatility.
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