WS Amati Global Innovation Fund, a UK-based equity fund managed by Amati Global Investors, spotlighted MKS Instruments (NASDAQ: MKSI) as a top contributor in its second quarter 2026 investor letter.
The fund cited a broadening of investor interest away from concentrated AI headline names as a key driver of its outperformance against the MSCI ACWI benchmark during the period.
Semiconductor equipment suppliers and chip producers emerged as standout contributors to the fund’s returns, reflecting exceptional growth across the AI supply chain in the second quarter.
MKS Instruments closed at $329.18 per share on July 24, 2026, reflecting a market capitalization of approximately $22.23 billion at that time.
The stock posted a one-month return of -20.87%, while gaining an impressive 221.68% over the prior 52-week period.
The fund’s letter described MKS Instruments as delivering the single largest boost to its returns during the quarter, crediting the company’s role in enabling modern multi-layer chip architectures.
“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,” the fund wrote, adding that “MKS’ products help to make this possible.”
The letter further noted that “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.”
MKS Instruments reported first quarter 2026 revenue of $1.08 billion, representing a 4% sequential increase and a 15% rise compared to the same period a year earlier.
Hedge fund interest in the stock has grown notably, with 71 hedge fund portfolios holding positions in MKS Instruments at the end of the first quarter, up from 52 in the prior quarter.
Amati Global Investors expressed continued confidence in innovation-driven sectors including semiconductors, automation, and advanced technologies as long-term growth frontiers.
The fund’s positioning across the broader AI ecosystem, beyond just flagship names such as Nvidia, proved strategically advantageous as investor enthusiasm spread further down the supply chain during the quarter.
