Hedge Fund Investor Letters and Updates for 2026 Q2

That was evident on July 21, as the software giant confirmed the expansion of its strategic partnership with Mistral. The collaboration is designed to give enterprises and regulated industries access to frontier AI models that they can deploy with greater control over security, governance, and compliance.

The expanded partnership reinforces Microsoft’s ambition to become the trusted AI infrastructure provider for highly regulated industries, including financial services, healthcare, government, defense, energy, and manufacturing.

As part of this agreement, Microsoft will use Mistral’s expanding European GPU infrastructure. Mistral, on the other hand, has added its AI models called Medium 3.5 and OCR ​4 to Microsoft’s app builder known as Foundry; while Microsoft Copilot Studio has brought on Medium 3.5 ⁠as well.

Photo by Microsoft 365 on Unsplash

It also underscores Microsoft’s broader strategy of transforming Azure into a multi-model AI platform rather than relying on a single foundation model provider. Microsoft is attempting to position Azure as a central marketplace and infrastructure layer where enterprises can access multiple leading AI models while using the same cloud infrastructure, security framework, and governance tools.

At the same time, Microsoft Corporation (NASDAQ:MSFT) is positioning itself to benefit from growing demand for sovereign AI infrastructure. Governments and regulated organizations increasingly require AI systems that keep sensitive data within national or regional borders to comply with data sovereignty and privacy regulations.

Strengthening Cloud Competitive Position

Microsoft has already begun embedding governance capabilities directly into Microsoft Foundry, Microsoft 365, and the broader Azure platform. Features such as audit trails, identity management, policy enforcement, and strict access controls are becoming core components of Microsoft’s AI offering, allowing regulated organizations to deploy AI into mission-critical workflows with greater confidence.

This strategy strengthens Azure’s competitive position against Amazon Web Services and Google Cloud at a time when regulated industries are expected to account for some of the largest enterprise AI spending over the coming decade.

More importantly, the strategy could widen Microsoft’s competitive moat. As AI models become increasingly commoditized, enterprises may place greater value on the surrounding infrastructure, compliance capabilities, and operational tools than on any single model itself. If that trend materializes, Azure could effectively become the operating system for enterprise AI, enabling Microsoft to generate recurring cloud revenue regardless of which frontier model ultimately leads on raw performance.

Microsoft-Mistral Potential Pain Points

Microsoft could struggle to generate optimal value from its partnership, partly because Mistral is still a small AI player and does not have the scale of OpenAI, Google, or Meta. Therefore, the tech giant could end up investing heavily in an ecosystem whose models may not become major enterprise standards.

The expanded partnership involves Microsoft’s multibillion-dollar commitment to Mistral’s European AI infrastructure. The risk is that AI infrastructure spending grows faster than monetization, creating a long payback period and putting pressure on returns on invested capital.

While Mistral models on Microsoft will end up giving customers more choice, they could reduce demand for Microsoft’s models and potentially weaken differentiation around Azure AI. If customers substitute Mistral for OpenAI or other models already available on Azure, it could  make the model-access layer increasingly interchangeable.

Despite the significant opportunity, serving highly regulated industries also presents Microsoft’s greatest challenge. Enterprise frontier AI deployments will be subject to increasingly stringent AI safety regulations, data sovereignty requirements, cybersecurity standards, and industry-specific compliance rules. Any failure involving security, governance, or AI reliability could expose Microsoft to legal liabilities while damaging its reputation among enterprise customers.

Cybersecurity represents another major risk. As frontier AI systems gain access to confidential corporate information, financial records, healthcare data, and proprietary intellectual property, Microsoft’s AI infrastructure will become an increasingly attractive target for sophisticated cyberattacks.

Supporting enterprise-scale frontier AI requires enormous capital expenditures on AI accelerators. While these investments strengthen Azure’s long-term competitive position, they may pressure margins if enterprise AI adoption develops more slowly than expected. It is also unclear whether enterprise AI adoption will generate returns large enough to justify Microsoft’s massive infrastructure investments.

Bottom Line

Frontier AI has the potential to become one of Azure’s most important long-term growth drivers, expanding Microsoft’s cloud business beyond traditional infrastructure into the foundation for next-generation enterprise computing.

Microsoft Corporation (NASDAQ:MSFT) trades at approximately 20x forward earnings, 9x sales, and 15x EV/EBITDA. By comparison, Amazon.com Inc (NASDAQ:AMZN) trades at roughly 28x forward earnings, 3x sales, and 16x EV/EBITDA.

Microsoft trades at a higher price-to-sales multiple than Amazon,its relevant strategic peer, partly reflecting its superior profit margins and software-heavy revenue mix. Amazon, however, boasts a higher forward earnings multiple, consistent with expectations for somewhat faster earnings growth over the next several years.

Meanwhile, Microsoft’s short interest stands at just 1.2% with 92.37 million shares sold short, indicating relatively few investors are betting against the stock. On the other hand, Amazon has 106.5 million shares sold short, or 1.09% of the total float. Institutional ownership remains supportive as well.

According to Insider Monkey’s database, 282 hedge funds held positions in Microsoft at the end of the first quarter, compared with 353 hedge funds holding Amazon. During the quarter, Fisher Asset Management increased its Microsoft position by 3% to $9.6 billion, while Arrow street Capital expanded its stake by 65% to approximately $8.98 billion. However, these holdings predate the Mistral announcement and therefore reflect confidence in Microsoft’s broader cloud and AI strategy rather than a direct reaction to the partnership.

[im-yf-promo]

While we acknowledge the potential of MSFT 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.

[/im-yf-promo]

READ NEXT: Is Alibaba the Best Chinese AI Play After Apple’s Endorsement? and SpaceX (SPCX) Loses Its IPO Premium as a Bigger Supply Test Looms. 

Disclosure: None. Follow Insider Monkey on Google News.

A copy of Janus Henderson Forty Fund’s Q2 2026 investor letter can be downloaded here.

In its Q2 2026 investor letter, EMA GARP Fund highlighted Avino Silver & Gold Mines Ltd. (NYSEAMERICAN:ASM). Avino Silver & Gold Mines Ltd. (NYSEAMERICAN:ASM) is a Canadian precious metal mining company that engages in the acquisition, exploration, and advancement of mineral properties. On July 24, 2026, Avino Silver & Gold Mines Ltd. (NYSEAMERICAN:ASM) closed at $5.63 per share, reflecting a market capitalization of $986.77 million. Avino Silver & Gold Mines Ltd. (NYSEAMERICAN:ASM) posted a one-month return of -10.21%, while its shares gained 69.07% over the past 52 weeks.

EMA GARP Fund stated the following regarding Avino Silver & Gold Mines Ltd. (NYSEAMERICAN:ASM) in its Q2 2026 investor update:

“The miners are way, way too cheap at present gold and silver prices. And their earnings outlook is robust at higher bullion prices given the substantial operating leverage. Miner industry profitability is as good as it’s been at any point in the last 25 years.  Two Miner Case Studies are outlined – Aris and Avino Silver & Gold Mines Ltd. (NYSEAMERICAN:ASM). Crazy cheap and massive asymmetry.

Avino Silver and Gold is a mid-tier producer of mostly silver with some gold and copper credits. They operate two mines which share one mill in Mexico’s Durango Province, a generally safe area free of cartel activity. In calendar 2025, they produced 2.6 million silver equivalent ounces at an average cost (AISC) of $23.75/ounce. With an average silver selling price of $44.70 per ounce during the year their average margin was $20.95/ounce. So, at the mine operating level they had contribution of $54 million. After SG&A, EBITDA for 2025 was $28.5 million. However silver prices today ($60/ounce) are substantially above last year’s average price and in Q1 of 2026 they had EBITDA of $20 million. Bloomberg analyst’s consensus for 2026 EBITDA is $80 million. So, the Company is trading at 12.5x EBITDA….” (Click here to read the full text)

[im-yf-promo]

Avino Silver & Gold Mines Ltd. (NYSEAMERICAN:ASM) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 12 hedge fund portfolios held Avino Silver & Gold Mines Ltd. (NYSEAMERICAN:ASM) at the end of the first quarter, up from 11 in the previous quarter. While we acknowledge the potential of Avino Silver & Gold Mines Ltd. (NYSEAMERICAN:ASM) 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.

[/im-yf-promo]

In another article, we covered Avino Silver & Gold Mines Ltd. (NYSEAMERICAN:ASM) and shared most profitable small cap stocks to buy. In addition, please check out our hedge fund investor letters Q2 2026 page for more investor letters from hedge funds and other leading investors.

READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years.

Disclosure: None. This article is originally published at Insider Monkey.

A copy of Equity Management Associates’ Q2 2026 investor letter can be downloaded here.

In its Q2 2026 investor letter, Brandes Small Cap Value Fund highlighted its new purchase, The Campbell’s Company (NASDAQ:CPB). The Campbell’s Company (NASDAQ:CPB) is a leading US-based packaged food company. On July 24, 2026, The Campbell’s Company (NASDAQ:CPB) closed at $21.84 per share, reflecting a market capitalization of $6.51 billion. The Campbell’s Company (NASDAQ:CPB) posted a one-month return of -5.08%, while its shares lost 32.26% over the past 52 weeks.

Brandes Small Cap Value Fund stated the following regarding The Campbell’s Company (NASDAQ:CPB) in its Q2 2026 investor update:

“The Campbell’s Company (NASDAQ:CPB) is a North America-focused, branded packaged food company operating primarily in two segments: Meals & Beverages and Snacks. Meals & Beverages includes Campbell’s condensed and ready-to-serve soups, Chunky, Swanson broths, Pacific Foods, Prego, Rao’s and V8. The Snacks segment includes Goldfish, Pepperidge Farm, Snyder’s of Hanover, Lance, Late July, Kettle Brand and Cape Cod. The company holds number one or number two market positions in most of its categories, and its portfolio has evolved well beyond its legacy soup identity through such acquisitions as Snyder’s-Lance and Sovos Brands.

While its core categories are mature, they remain relatively defensive, with below-average and broadly stable private-label penetration, strong brand recognition and exposure to at home eating occasions where convenience, value and perceived health remain relevant…” (Click here to read the full text)

[im-yf-promo]

The Campbell’s Company (NASDAQ:CPB) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 26 hedge fund portfolios held The Campbell’s Company (NASDAQ:CPB) at the end of the first quarter, down from 40 in the previous quarter. While we acknowledge the potential of The Campbell’s Company (NASDAQ:CPB) 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.

[/im-yf-promo]

In another article, we covered The Campbell’s Company (NASDAQ:CPB) and shared the list of top NASDAQ stocks to buy for retirement. In addition, please check out our hedge fund investor letters Q2 2026 page for more investor letters from hedge funds and other leading investors.

READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years.

Disclosure: None. This article is originally published at Insider Monkey.

That scarcity has been aggravated by reports that TSMC may boost contract chip manufacturing prices by up to 10% in 2027, with some products facing increases of up to 20%, owing to increased materials, equipment, and overseas facility development expenses.

Explosive Financial Scaling

Sandisk Corporation (NASDAQ:SNDK) is one of the names that have benefited the most from the supercycle. Since its February 2025 spinoff from Western Digital at $35.06 per share, Sandisk Corporation (NASDAQ:SNDK) has become the single best-performing stock in the S&P 500, climbing up to 858% at its late-June peak on the back of explosive fundamentals: fiscal Q3 2026 revenue reached $5.95 billion, up 97% sequentially and 251% year-over-year, with datacenter revenue specifically up 645% year-over-year.

Management anticipates continued sequential acceleration in the fourth quarter of fiscal 2026, with total revenue expected to range between $7.75 billion and $8.25 billion and non-GAAP earnings per share between $30 and $33, as gross margins increase to near 80%. More crucially, Sandisk Corporation (NASDAQ:SNDK) reported that its remaining performance obligations and contracted backlog came in between $41.6 billion and $42 billion. Sandisk’s entire 2026 enterprise AI storage capacity is sold out under long-term agreements, thus locking in multibillion-dollar cash flows for the rest of the calendar year.

The Semiconductor Pullback

Despite its strong operational reports, Sandisk Corporation (NASDAQ:SNDK) has not been immune to macroeconomic turbulence. In mid-July, shares fell 8% to 15% across a number of sessions, contributing to a 39% slide from late-June record highs, as the Philadelphia Semiconductor Index fell more than 20%. According to market analysts, this pullback is the result of an industry-wide valuation adjustment rather than a structural decline in memory demand or corporate earnings power.

Wall Street research desks have leveraged the downturn to adjust price targets based on improved earnings potential instead of speculative valuation multiples. On July 5, Goldman Sachs boosted Sandisk’s price objective to $2,200 from $1,200, keeping its Buy rating ahead of the company’s earnings announcement on August 5. The mechanics of Goldman’s target adjustment reflect strong institutional confidence: the bank cut its target valuation multiple from 22x to 20x while doubling its normalized EPS projection from $55 to $110.

Smart Money’s Opinion

Institutional data show a significant difference between retail opinion and smart-money conviction. While short-term trader concerns about peak-cycle dynamics fueled the recent share price decline, short interest in Sandisk Corporation (NASDAQ:SNDK) remains relatively low at 4.93% of the public float. The low short stance shows that experienced bears are hesitant to place aggressive short wagers against a company with a $42 billion contracted backlog.

Meanwhile, hedge fund conviction has greatly increased. According to Insider Monkey’s database, 114 elite funds owned stakes in Sandisk Corporation (NASDAQ:SNDK) at the end of the first quarter of 2026, up from 75 in the previous quarter. This 52% increase in hedge fund holdings in a single quarter represents one of the most significant institutional buying surges in the technology sector.

Insider Monkey’s Verdict

Sandisk Corporation (NASDAQ:SNDK) is a solid opportunity for institutional investors looking to capitalize on the AI storage supercycle. A 39% drop from peak values, owing mainly to macro semiconductor multiple pressure, has produced an appealing entry point for a company with a $42 billion contracted backlog and enterprise AI production capacity committed through 2026. All in all, the current selloff provides an ideal window ahead of the August 5 results catalyst.

[im-yf-promo]

While we acknowledge the potential of SNDK 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.

[/im-yf-promo]

READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years 

Disclosure: None. Follow Insider Monkey on Google News.

Revenue is still expected to be near the low end of its $11-12.5 billion guidance range, below the roughly $11.67 billion analyst consensus, though shares rose as much as 20% on the news, with margin and order data clearly outweighing the top-line miss for investors focused on where the business is going.

Downstream AI Infrastructure Read-Through for NVIDIA

For the broader technology ecosystem, Super Micro Computer Inc. (NASDAQ:SMCI)’s order increase is an important indicator of downstream artificial intelligence hardware demand. Since Super Micro Computer Inc. (NASDAQ:SMCI) bases its high-performance server clusters on NVIDIA GPU architectures and has historically contributed roughly 9% of NVIDIA’s total revenue, the $60 billion order intake provides solid proof that hyperscaler AI infrastructure spending remains strong. At a time when macro experts have questioned the ability of major cloud providers to continue multibillion-dollar capital expenditure cycles, Super Micro’s record backlog indicates that customer demand for liquid-cooled AI computing racks is increasing rather than decreasing.

SMCI’s Valuation Disconnect

However, Super Micro’s own history is why the stock’s price can’t be evaluated the same way a clean order-book beat generally is. Back in March 2026, federal prosecutors unveiled an indictment charging co-founder and board member Yih-Shyan “Wally” Liaw, along with two other individuals associated with the company, with collaborating to smuggle $2.5 billion in NVIDIA-powered AI servers to China in breach of US export regulations. Shares plunged more than 28% in a single day as a result of the announcement, and one analyst reported by Yahoo Finance at the time described the company as “uninvestable.”

That history is reflected in how cheap the company has become, despite the solid order data: Super Micro Computer Inc. (NASDAQ:SMCI) trades at a forward P/E ratio of approximately 9x, less than half the hardware sector median of about 24x, and a PEG ratio of around 0.4, both of which would ordinarily indicate serious undervaluation.

Short Interest and Hedge Fund Accumulation

Short interest confirms that the market views this as a live risk rather than a resolved one: Super Micro Computer Inc. (NASDAQ:SMCI) is the third-most-shorted stock among hedge funds, with nearly 16% of shares outstanding, and the stock is still down more than 40% over the past 52 weeks, despite the July 21 rally. Wall Street’s own consensus rating is Hold, with an average price target of $37, signaling significant upside from current levels.

Conversely, smart-money accumulation was actively rising upward prior to this period of instability. According to Insider Monkey’s database, 49 elite hedge funds owned stakes in Super Micro Computer Inc. (NASDAQ:SMCI) at the end of the first quarter of 2026, up from 39 in the previous quarter. Of these, Marshall Wace LLP proved to be the leading stakeholder, with a position worth $163.6 million.

The Verdict: Avoid Due to Pending Legal Resolution

Super Micro Computer Inc. (NASDAQ:SMCI) represents a high-yield value trap for conservative institutional investors. While a $60 billion order backlog and a double-digit margin blowout show that operational demand for liquid-cooled AI technology is extremely strong, investing in an active federal indictment involving $2.5 billion in suspected export breaches carries unquantifiable tail risk. Investors would do well to avoid chasing post-earnings rallies until the company’s legal liabilities are resolved.

[im-yf-promo]

While we acknowledge the potential of SMCI 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.

[/im-yf-promo]

READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years 

Disclosure: None. Follow Insider Monkey on Google News.

The Selloff

Whether this translates into fewer elective medical treatments is now a hotly debated topic in the healthcare industry, with Intuitive Surgical, Inc. (NASDAQ:ISRG) emerging as the evident casualty. The company’s shares plunged more than 12% before the bell on July 17, despite Intuitive maintaining its global procedure-growth prediction for its da Vinci surgical robots. Instead, the selloff was driven by the company’s own admission that changes in insurance coverage could impact demand.

US da Vinci procedure growth slowed to roughly 12% in the second quarter, down from where Intuitive Surgical, Inc. (NASDAQ:ISRG) expected to be at the beginning of the year, with a focus on surgeries that patients may defer. On the July 16 call, CEO David Rosa told analysts that customer conversations indicated that fluctuating patient coverage and premium dynamics affect “when patients seek care,” as opposed to if they seek it at all.

A Sector Split on the ACA Question

That reaction came at an awkward time, as a highly public disagreement was already taking place in the sector. Abbott, a major medical device and diagnostics manufacturer, had argued recently that blaming industry-wide procedure weakness on ACA disenrollment was a “flawed assumption.” HCA Healthcare, the largest for-profit hospital operator in the United States, took the opposite stance, warning earlier of lower surgical demand and an increase in uninsured patients when pandemic-era subsidies expired.

Intuitive’s own results now appear to support the HCA side of the argument, at least in procedures when patients can choose to delay. Stifel’s response immediately reflected the tension: the firm reduced its price objective to $550 from $670 on July 17 while keeping a Buy rating on the company’s shares, despite Intuitive Surgical, Inc. (NASDAQ:ISRG) exceeding expectations in revenue, earnings, system placements, and procedure growth in the same quarter. Both US procedure and installed-base growth have slowed since the 2020-2021 COVID era, with management blaming the slowdown on ACA disenrollment and the basic law of large numbers as the installed base matures.

The Valuation Shift Nobody is Talking About

The valuation shift underlying all of this is another intriguing long-term indicator. ISRG’s forward P/E ratio has fallen to about 33x as of July 17, down dramatically from a five-year high of 96x and currently near the low end of its own five-year range. The company has traded at a structural premium to medical device rivals for the majority of the last decade, but that premium has essentially dissipated, with its current multiple now about in line with the peer group average of about 35x.

Institutional positioning was already softening before this quarter’s ACA-related warning gave the market a solid reason to sell. According to Insider Monkey’s Q1 2026 database, 103 elite funds held Intuitive Surgical, Inc. (NASDAQ:ISRG) at quarter-end, down from 109 the previous quarter, a decline that predates both Abbott’s “flawed assumption” pushback on the ACA thesis and the earnings reaction.

Insider Monkey’s Bottom line

NZS Growth Equity Strategy stated the following regarding Intuitive Surgical, Inc. (NASDAQ:ISRG) in its Q2 2026 investor update:

“Only Real Estate and Healthcare contributed negatively to absolute returns, but Materials and Financials lagged. Intuitive Surgical, Inc. (NASDAQ:ISRG) was the top individual detractor to absolute returns in the quarter. While fundamentals remain solid for Intuitive Surgical, the stock’s multiple has not been immune from the broad de-rating in “quality growth” stocks we’ve seen outside of the AI ecosystem.”

The market’s brutal treatment of Intuitive Surgical, Inc. (NASDAQ:ISRG) represents a classic timeline disconnect. While ACA subsidy lapses provide significant short-term friction for deferrable domestic treatments, the fundamental thesis for the world’s leading robotic surgery company remains unchanged. Recurring revenue, derived from instruments, accessories, and service contracts, now accounts for 85% of overall sales, producing predictable cash flows across a global installed base of around 13,000 units.

Moreover, increased international procedure growth of 20% and widespread adoption of the next-generation da Vinci 5 platform serve as effective counterweights to temporary US coverage dynamics. Intuitive Surgical, which trades at 33x forward earnings and matches generic medtech peers despite its solid moat, has an extraordinary risk-reward profile. Long-term institutional investors should take advantage of this policy-induced weakness to establish strong stakes in a leading growth monopoly.

[im-yf-promo]

While we acknowledge the potential of ISRG 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.

[/im-yf-promo]

READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years 

Disclosure: None. Follow Insider Monkey on Google News.

A copy of Brandes Small Cap Value Fund’s Q2 2026 investor letter is available to download here.

Vancouver, British Columbia, July 27th, 2026, FinanceWire

Gold X2 Mining Inc. (TSXV:AUXX) (OTCQB:GSHRF) (FSE: DF8) (“Gold X2” or the “Company“) is pleased to announce that the effective date for the previously announced share consolidation (the “Consolidation“) will be July 29, 2026. As outlined in the Company’s news release dated July 15, 2026, the Consolidation will be conducted on the basis of one (1) post-consolidation common share (“Post-Consolidation Share“) for every six (6) pre-consolidation common shares (“Pre-Consolidation Share“).

The Post-Consolidation Shares are scheduled to begin trading on the TSX Venture Exchange (the “TSX-V“) at the market open on July 29, 2026 under the existing symbol “AUXX”. Following the Consolidation, the new CUSIP number for the common shares will be 38076G509 and the new ISIN number will be CA38076G5095. No fractional shares will be issued as a result of the Consolidation and no cash consideration will be paid in respect of fractional shares. Any fractional interest in shares resulting from the Consolidation will be rounded up to the next whole share if the fraction is one-half or greater, and down if the fraction is less than one-half. In all other respects, the Post-Consolidation Shares will have the same attributes as the Pre-Consolidation shares. Following the Consolidation, the Company will have approximately 101,110,094 common shares issued and outstanding.

The exercise or conversion price and the number of common shares issuable under any of the Company’s outstanding convertible securities will be proportionately adjusted to reflect the Consolidation in accordance with their respective terms.

The Company’s transfer agent, Odyssey Trust Company (“Odyssey“), will mail a letter of transmittal to registered shareholders of the Company (the “Registered Shareholders“) who hold Pre-Consolidation Shares represented by share certificates. The letter of transmittal will provide instructions on exchanging Pre-Consolidation Share certificates for Post-Consolidation Share certificates or Direct Registration System –DRS– advices. Shareholders are encouraged to send their share certificates, together with their letter of transmittal, to Odyssey in accordance with the instructions in the letter of transmittal. Until surrendered, each share certificate representing Pre-Consolidation Shares will be deemed to represent the number of whole Post-Consolidation Shares to which the shareholder is entitled as a result of the Consolidation. The Registered Shareholders whose Pre-Consolidation Shares are represented by a DRS will not be required to complete and sign a letter of transmittal, and a DRS statement representing their Post-Consolidation Shares will automatically be issued to those Registered Shareholders by Odyssey.

The Consolidation remains subject to the final approval of the TSX-V. Additional details regarding the Consolidation can be found in the Company’s news release dated July 15, 2026 available under the Company’s profile on SEDAR+ at www.sedarplus.ca.

About Gold X2 Mining

Gold X2 is a growth-oriented gold company focused on delivering long-term shareholder and stakeholder value through the acquisition and advancement of primary gold assets in tier-one jurisdictions. It is led by the ex-global head of structural geology for the world’s largest gold company and backed by one of Canada’s pre-eminent private equity firms. The Company’s current focus is the advanced stage 100% owned Moss Gold Project which is positioned in Ontario, Canada, with direct access from the Trans-Canada Highway, hydroelectric power near site, supportive local communities and skilled workforce. The Company has invested over $150 million of new capital and completed approximately 100,000 meters of drilling on the Moss Gold Project, which, in aggregate, has had over 300,000 meters of drilling. The 2026 updated National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101“) mineral resource estimate (“MRE“) for the Moss and East Coldstream Deposits has expanded to 2.458 million ounces of Indicated gold resources at 1.04 g/t Au, contained within 73.8 million tonnes and 4.209 million ounces of Inferred gold resources at 0.97 g/t Au contained within 134.7 million tonnes. The Moss Deposit also has a silver MRE of 3.160 million ounces of indicated silver resources at 1.53 g/t Ag contained within 64.3 Mt and 6.273 million ounces of inferred silver resources at 1.55 g/t Ag contained within 125.9 Mt. Results of a preliminary economic assessment (“PEA“) of the Moss Gold Project suggest the potential for the deposit to support a long-life mining operation with a strong production profile and low production costs. The MRE and PEA are supported by a NI 43-101 technical report for the Moss Gold Project available on the Company’s website and under the Company’s issuer profile on SEDAR+. For more information, please visit SEDAR+ (www.sedarplus.ca) and the Company’s website (www.goldx2.com).

Peter Flindell, PGeo, MAusIMM, MAIG, Chief Operating Officer, of the Company, and a qualified person under NI 43-101, has approved the scientific and technical information contained in this news release.

ON BEHALF OF THE BOARD 

“Michael Henrichsen”

For More Information – Please Contact:

Michael Henrichsen

President, Chief Executive Officer and Director

Gold X2 Mining Inc.

E: mhenrichsen@goldx2.com

W: www.goldx2.com

T: 1-604-404-4335

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

This news release contains statements that constitute “forward-looking statements.” Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements, or developments to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “potential” and similar expressions, or that events or conditions “will,” “would,” “may,” “could” or “should” occur. Forward-looking statements in this news release include, among others, plans to complete the Consolidation and the terms thereof, including the treatment of convertible securities; the effect of the Consolidation on the Company’s capital structure, including the number of Post-Consolidation Shares outstanding after the Consolidation; the mailing of the letter of transmittal; the treatment of fractional shares and the receipt of required approvals for the Consolidation, and the timing thereof.

By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause our actual results, performance or achievements, or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors and risks include, among others: uncertainty and variation in the estimation of mineral resources; risks related to exploration, development, and operation activities; exploration and development of the Moss Gold Project will not be undertaken as anticipated; the Company may require additional financing from time to time in order to continue its operations which may not be available when needed or on acceptable terms and conditions acceptable; the economic performance of the deposit may not be consistent with management’s expectations; the Company’s exploration work may not deliver the results expected; the fluctuating price of gold; unknown liabilities in connection with acquisitions; compliance with extensive government regulation; delays in obtaining or failure to obtain governmental permits, or non-compliance with permits; environmental and other regulatory requirements; domestic and foreign laws and regulations could adversely affect the Company’s business and results of operations; risks related to natural disasters, terrorist acts, health crises, and other disruptions and dislocations; global financial conditions; uninsured risks; climate change risks; competition from other companies and individuals; conflicts of interest; risks related to compliance with anti-corruption laws; the Company’s limited operating history; intervention by non-governmental organizations; outside contractor risks; the stock markets have experienced volatility that often has been unrelated to the performance of companies and these fluctuations may adversely affect the price of the Company’s securities, regardless of its operating performance; satisfaction of all applicable requirements necessary to effect the Consolidation; the receipt of all required approvals for the Consolidation; the Consolidation not being realized and other risks associated with executing the Company’s objectives and strategies as well as those risk factors discussed in the Company’s continuous disclosure documents filed under the Company’s SEDAR+ profile at www.sedarplus.ca.

The forward-looking information in this news release is based on management’s reasonable expectations and assumptions as of the date of this news release. Certain material assumptions regarding such forward-looking statements were made, including without limitation, assumptions regarding: the future price of gold; anticipated costs and the Company’s ability to fund its programs; the Company’s ability to carry on exploration, development and mining activities; prices for energy inputs, labour, materials, supplies and services; the timing and results of drilling programs; mineral resource estimates and the assumptions on which they are based; the discovery of mineral resources and mineral reserves on the Company’s mineral properties; the timely receipt of required approvals and permits; the costs of operating and exploration expenditures; the Company’s ability to operate in a safe, efficient, and effective manner; the Company’s ability to obtain financing as and when required and on reasonable terms; that the Company’s activities will be in accordance with the Company’s public statements and stated goals; the Company’s exploration work will deliver the results expected; no delays in obtaining required approvals with respect to the Consolidation; that all conditions precedent to the completion of the Consolidation will be satisfied in a timely manner, if at all; and that there will be no material adverse change or disruptions affecting the Company or its properties.

The forward-looking information contained in this news release represents the expectations of the Company as of the date of this news release and, accordingly, is subject to change after such date. There can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. The Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

Featured Image @ Freepik

Contact

President, Chief Executive Officer and Director
Michael Henrichsen
Gold X2 Mining Inc.
mhenrichsen@goldx2.com

In its Q2 2026 investor letter, WS Amati Global Innovation Fund highlighted MKS Inc. (NASDAQ:MKSI) as a notable contributor. MKS Inc. (NASDAQ:MKSI) is a leading technology company that offers advanced foundational technology solutions to semiconductor manufacturing, electronics and packaging, and specialty industrial applications. On July 24, 2026, MKS Inc. (NASDAQ:MKSI) closed at $329.18 per share, reflecting a market capitalization of $22.23 billion. MKS Inc. (NASDAQ:MKSI) posted a one-month return of -20.87%, while its shares gained 221.68% over the past 52 weeks.

WS Amati Global Innovation Fund stated the following regarding MKS Inc. (NASDAQ:MKSI) in its Q2 2026 investor update:

“The broadening of interest away from the highly concentrated AI headline companies, such as Nvidia, proved to be a helpful environment for the Fund, providing a period of material outperformance against the MSCI ACWI benchmark. Our four top contributors were all caught up in the excitement to some extent, with three being semiconductor producers and one being an equipment supplier into that industry. The latter,MKS Inc. (NASDAQ:MKSI), provided the biggest single boost to the Fund’s returns and is a notable beneficiary of innovation in the design of modern chips. Rather than single layers of tiny transistors, many modern chips have multiple layers like a wafer biscuit, and electrons need to travel up and down through these layers. MKS’ products help to make this possible. AI’s insatiable appetite for memory, particularly High Band Memory (HBM), has created a wave of greater demand for the chips which MKS helps to create.”

[im-yf-promo]

MKS Inc. (NASDAQ:MKSI) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 71 hedge fund portfolios held MKS Inc. (NASDAQ:MKSI) at the end of the first quarter, up from 52 in the previous quarter. In Q1 2026, MKS Inc. (NASDAQ:MKSI) reported revenue of $1.08 billion, up 4% sequentially and 15% year-over-year. While we acknowledge the potential of MKS Inc. (NASDAQ:MKSI) 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.

[/im-yf-promo]

In another article, we covered MKS Inc. (NASDAQ:MKSI) and shared a list of best stocks to buy from Glen Kacher’s Light Street Portfolio. In addition, please check out our hedge fund investor letters Q2 2026 page for more investor letters from hedge funds and other leading investors.

READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years.

Disclosure: None. This article is originally published at Insider Monkey.

Union Pacific Earnings

Union Pacific Corporation (NYSE:UNP) delivered an operating revenue of $6.9 billion and an adjusted EPS of $3.41, marking a surprise of 3% and 5%, respectively. Meanwhile, the company reported 6% EPS growth, with operating revenue up 12% YoY. Management sees full-year reported EPS growth in the high single-digit range, raising its 2026 outlook.

The strong results were mainly driven by freight revenue, which grew 12%, due to volume growth, fuel surcharge revenue, solid core pricing, and operational efficiency. The company reports being 10 basis points better on the operating ratio, standing at 59.2%.

ankush-minda-7KKQG0eB_TI-unsplash

A key highlight of the results was the company’s intermodal strength, as it delivered its fourth consecutive record quarter in volume and revenue. Thanks to truck capacity and share gains, private asset, rail asset, and parcel volumes were all up double-digits.

Norfolk Southern Earnings

Norfolk Southern Corporation (NYSE:NSC)’s results surpassed its own expectations, with 7% net income and EPS growth. A sharp inflection in volumes drove the company’s results due to the higher energy prices arising from the Middle East conflict.

The company also saw a 5% surge in volumes in the Intermodal business, backed by favorable trucking dynamics and recent business wins. Consequently, the company reported a 5% improvement in operating income.

The operating ratio for the quarter was 65.5%, with an EPS of $3.52. With that said, the operating ratio increased 210 basis points relative to last year. The company continues to monitor energy prices, the consumer, and interest rates.

Weighing the Investment Case

In terms of EPS growth, Norfolk Southern Corporation (NYSE:NSC) took the lead, but Union Pacific Corporation (NYSE:UNP) stood out on operational efficiency.

UNP offers a revenue forward growth rate of 4.40%, which is above NSC’s 3.79% growth rate. Similarly, UNP’s EBITDA Forward Growth Rate of 6.31% is meaningfully higher than NSC’s rate of 3.91%. This implies that UNP is now a growth play.

Another fact to note is that while fuel and inflation headwinds impacted both companies, Union Pacific Corporation (NYSE:UNP) reported a 10 basis point improvement in operating ratio in contrast to the meaningfully higher operating ratio of Norfolk Southern Corporation (NYSE:NSC). This suggests that NSC may be more vulnerable to macroeconomic challenges.

From the valuation perspective, NSC is now best evaluated in terms of the proposed merger rather than as a standalone company. Investors must focus on the company’s current share price relative to the implied value of the acquisition consideration. Under the agreement, Union Pacific will acquire Norfolk Southern in a stock-and-cash transaction with NSC’s shareholders receiving 1.0 Union Pacific common share and $88.82 in cash for each NSC share. Based on Union Pacific’s closing share price of $307.32 on Friday, the implied consideration is approximately $396 per NSC share, compared with Norfolk Southern’s current market price of $350.66. That nearly 12% merger discount indicates that investors are pricing in some risks surrounding the transaction, including regulatory approval, the time required to close the deal (expected to close by early 2027), and the future performance of UNP’s shares.

UNP has also attracted greater hedge fund interest. According to Insider Monkey’s database, 96 hedge funds held the stock in Q1, compared with 76 hedge funds holding NSC during the same quarter.

The Conclusion

Union Pacific Corporation (NYSE:UNP) is delivering a resilient standalone financial performance as the freight cycle improves. To benefit from UNP’s operational strength, strong growth potential, and synergies from the merger, investors may have to pay a premium. On the other hand, NSC can’t be analyzed in isolation as the merger opportunity is the core of its investment thesis. With the stock trading below the deal’s implied value, Norfolk Southern Corporation (NYSE:NSC) is now a more event-driven opportunity with greater uncertainty.

[im-yf-promo]

While we acknowledge the potential of UNP 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.

[/im-yf-promo]

READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years 

Disclosure: None. Follow Insider Monkey on Google News.

In its Q2 2026 investor letter, WS Amati Global Innovation Fund highlighted Allegro MicroSystems, Inc. (NASDAQ:ALGM). Allegro MicroSystems, Inc. (NASDAQ:ALGM) is a semiconductor company that develops sensor integrated circuits (ICs) and application-specific power ICs for sensing, motion control, and power management functions. On July 24, 2026, Allegro MicroSystems, Inc. (NASDAQ:ALGM) closed at $46.03 per share, reflecting a market capitalization of $8.58 billion. Allegro MicroSystems, Inc. (NASDAQ:ALGM) posted a one-month return of -32.12%, while its shares gained 31.09% over the past 52 weeks.

WS Amati Global Innovation Fund stated the following regarding Allegro MicroSystems, Inc. (NASDAQ:ALGM) in its Q2 2026 investor update:

“Allegro MicroSystems, Inc. (NASDAQ:ALGM) is perhaps better known as a sensor company, creating advanced position and movement sensors for use in areas such as robotics. However as a provider of specialist semiconductor chips into the datacentre market they too saw a sharp increase in demand, as well as share price performance.”

[im-yf-promo]

Allegro MicroSystems, Inc. (NASDAQ:ALGM) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 34 hedge fund portfolios held Allegro MicroSystems, Inc. (NASDAQ:ALGM) at the end of the first quarter, up from 28 in the previous quarter. While we acknowledge the potential of Allegro MicroSystems, Inc. (NASDAQ:ALGM) 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.

[/im-yf-promo]

In another article, we covered Allegro MicroSystems, Inc. (NASDAQ:ALGM) and shared Clearbridge Small Cap Growth Strategy’s views on the company. In addition, please check out our hedge fund investor letters Q2 2026 page for more investor letters from hedge funds and other leading investors.

READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years.

Disclosure: None. This article is originally published at Insider Monkey.

In its Q2 2026 investor letter, WS Amati Global Innovation Fund highlighted PTC Inc. (NASDAQ:PTC). PTC Inc. (NASDAQ:PTC) is a global software company that provides enterprise and industrial software solutions, enabling customers to manage all aspects of the product development lifecycle(PLM). On July 24, 2026, PTC Inc. (NASDAQ:PTC) closed at $118.52 per share, reflecting a market capitalization of $13.69 billion. PTC Inc. (NASDAQ:PTC) posted a one-month return of 4.07%, while its shares lost 41.90% over the past 52 weeks.

WS Amati Global Innovation Fund stated the following regarding PTC Inc. (NASDAQ:PTC) in its Q2 2026 investor update:

“Equity markets in their enthusiasm for the AI opportunity have written off many companies which we are confident have many years of demand growth ahead. Specialist software providers into often highly regulated industries will be extremely difficult to replicate and there is little incentive for users to do so. Companies such as PTC Inc. (NASDAQ:PTC) and Autodesk are often foundational for the clients that use them, and they are embracing AI to improve their offering and the efficiency of their customers. The way their businesses are effectively being written off in the minds of investors creates a very attractive investment opportunity in our view, and our 3-5 year time horizon gives plenty of runway for a more balanced view to assert itself.”

[im-yf-promo]

PTC Inc. (NASDAQ:PTC) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 42 hedge fund portfolios held PTC Inc. (NASDAQ:PTC) at the end of the first quarter, compared to 44 in the previous quarter. While we acknowledge the potential of PTC Inc. (NASDAQ:PTC) 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.

[/im-yf-promo]

In another article, we covered PTC Inc. (NASDAQ:PTC) and shared the list of best cheap stocks that are about to explode. In addition, please check out our hedge fund investor letters Q2 2026 page for more investor letters from hedge funds and other leading investors.

READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years.

Disclosure: None. This article is originally published at Insider Monkey.

In its Q2 2026 investor letter, WS Amati Global Innovation Fund highlighted Autodesk, Inc. (NASDAQ:ADSK). Autodesk, Inc. (NASDAQ:ADSK) is a software company that develops 3D design, engineering, and entertainment technology solutions. On July 24, 2026, Autodesk, Inc. (NASDAQ:ADSK) closed at $209.75 per share, reflecting a market capitalization of $44.29 billion. Autodesk, Inc. (NASDAQ:ADSK) posted a one-month return of 7.43%, while its shares lost 31.11% over the past 52 weeks.

WS Amati Global Innovation Fund stated the following regarding Autodesk, Inc. (NASDAQ:ADSK) in its Q2 2026 investor update:

“Equity markets in their enthusiasm for the AI opportunity have written off many companies which we are confident have many years of demand growth ahead. Specialist software providers into often highly regulated industries will be extremely difficult to replicate and there is little incentive for users to do so. Companies such as PTC and Autodesk, Inc. (NASDAQ:ADSK) are often foundational for the clients that use them, and they are embracing AI to improve their offering and the efficiency of their customers. The way their businesses are effectively being written off in the minds of investors creates a very attractive investment opportunity in our view, and our 3-5 year time horizon gives plenty of runway for a more balanced view to assert itself.”

[im-yf-promo]

Autodesk, Inc. (NASDAQ:ADSK) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 67 hedge fund portfolios held Autodesk, Inc. (NASDAQ:ADSK) at the end of the first quarter, compared to 81 in the previous quarter. While we acknowledge the potential of Autodesk, Inc. (NASDAQ:ADSK) 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.

[/im-yf-promo]

In another article, we covered Autodesk, Inc. (NASDAQ:ADSK) and shared the list of oversold stocks with attractive upside potential. In addition, please check out our hedge fund investor letters Q2 2026 page for more investor letters from hedge funds and other leading investors.

READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years.

Disclosure: None. This article is originally published at Insider Monkey.

In its Q2 2026 investor letter, WS Amati Global Innovation Fund highlighted Globant S.A. (NYSE:GLOB). Globant S.A. (NYSE:GLOB), a technology services company that provides digital transformation, AI, and software development solutions, detracted from the Fund’s performance during the quarter. On July 24, 2026, Globant S.A. (NYSE:GLOB) closed at $31.30 per share, reflecting a market capitalization of $1.35 billion. Globant S.A. (NYSE:GLOB) posted a one-month return of 9.72%, while its shares lost 64.62% over the past 52 weeks.

WS Amati Global Innovation Fund stated the following regarding Globant S.A. (NYSE:GLOB) in its Q2 2026 investor update:

“Although both companies weighed on performance, the largest single detractor was Globant S.A. (NYSE:GLOB), the US listed IT services and digital engineering business. It too was a casualty of the excessive extrapolation we believe investors are currently making and we have been gently adding on weakness to all three names.”

[im-yf-promo]

Globant S.A. (NYSE:GLOB) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 25 hedge fund portfolios held Globant S.A. (NYSE:GLOB) at the end of the first quarter, compared to 33 in the previous quarter. While we acknowledge the potential of Globant S.A. (NYSE:GLOB) 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.

[/im-yf-promo]

In another article, we covered Globant S.A. (NYSE:GLOB) and shared the list of most shorted mid-cap and small-cap stocks to buy. In addition, please check out our hedge fund investor letters Q2 2026 page for more investor letters from hedge funds and other leading investors.

READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years.

Disclosure: None. This article is originally published at Insider Monkey.

In its Q2 2026 investor letter, WS Amati Global Innovation Fund highlighted its new purchase, ATS Corporation (NYSE:ATS). ATS Corporation (NYSE:ATS) is a leading Canada-based advanced automation and industrial technology company. On July 24, 2026, ATS Corporation (NYSE:ATS) closed at $26.42 per share, reflecting a market capitalization of $2.56 billion. ATS Corporation (NYSE:ATS) posted a one-month return of -4.17%, while its shares lost 17.49% over the past 52 weeks.

WS Amati Global Innovation Fund stated the following regarding ATS Corporation (NYSE:ATS) in its Q2 2026 investor update:

“We purchased only one new holding in the quarter, ATS Corporation (NYSE:ATS), a Canadian listed supplier of advanced automation solutions to numerous different market segments, including industrial, life sciences and logistics. After some years of underspending on automation there are a number of notable drivers of demand over the coming years, not least a simple element of pent-up demand. As a material capital outlay, customers must feel confident of making a sufficient return on an investment into automation, and the uncertainties of rising interest rates, rapidly changing trade agreements (tariffs) and even ongoing military conflicts have made this a difficult call. However, the picture on many fronts is improving and the incentive of government assistance in reshoring and recreating local production in critical sectors like defence and technology is driving a return in demand. Even the arrival of more capable AI tools is now a tailwind. The weak recent performance of the equipment sector, combined with the concentration of attention of investors on the AI supernova, has provided us with what we think will be an excellent entry point for ATS. Beyond the improving macro trends and the technological inevitability of greater use of automation, ATS is also exposed to a number of fast growing end markets of particular interest to us from an innovation angle, such as radiopharmaceuticals, nuclear energy revival and expansion, and the expansion of peptide-based medical treatments such as GLP-1s.”

[im-yf-promo]

ATS Corporation (NYSE:ATS) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 14 hedge fund portfolios held ATS Corporation (NYSE:ATS) at the end of the first quarter, up from 9 in the previous quarter. While we acknowledge the potential of ATS Corporation (NYSE:ATS) 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.

[/im-yf-promo]

In another article, we covered ATS Corporation (NYSE:ATS) and shared the list of best industrial automation stocks to buy. In addition, please check out our hedge fund investor letters Q2 2026 page for more investor letters from hedge funds and other leading investors.

READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years.

Disclosure: None. This article is originally published at Insider Monkey.

A copy of WS Amati Global Innovation Fund’s Q2 2026 investor letter is available to download here.

In its Q2 2026 investor letter, the Wasatch Small Cap Growth Strategy highlighted AAON, Inc. (NASDAQ:AAON) as a material contributor. AAON, Inc. (NASDAQ:AAON) designs and manufactures high-efficiency air conditioning and heating equipment. On July 24, 2026, AAON, Inc. (NASDAQ:AAON) closed at $102.67 per share, reflecting a market capitalization of $8.41 billion. AAON, Inc. (NASDAQ:AAON) posted a one-month return of -19.75%, while its shares gained 20.22% over the past 52 weeks.

Wasatch Small Cap Growth Strategy stated the following regarding AAON, Inc. (NASDAQ:AAON) in its Q2 2026 investor update:

“AAON, Inc. (NASDAQ:AAON) also contributed. The company is a leading manufacturer of heating, ventilation and air conditioning (HVAC) systems for commercial and industrial environments. Data-center cooling demand amid the AI infrastructure build-out has led to accelerated growth for the company, whose commercial HVAC business had already experienced steady growth before the advent of AI. But AI has been a demand accelerant. In AAON’s latest quarterly results, year-over-year net sales grew more than 50% and the company’s total backlog increased 107.4% to a record $2.1 billion.”

[im-yf-promo]

AAON, Inc. (NASDAQ:AAON) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 30 hedge fund portfolios held AAON, Inc. (NASDAQ:AAON) at the end of the first quarter, compared to 36 in the previous quarter.  While we acknowledge the potential of AAON, Inc. (NASDAQ:AAON) 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.

[/im-yf-promo]

In another article, we covered AAON, Inc. (NASDAQ:AAON) and shared Giverny Capital Asset Management’s views on the company. In addition, please check out our hedge fund investor letters Q2 2026 page for more investor letters from hedge funds and other leading investors.

READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years.

Disclosure: None. This article is originally published at Insider Monkey.