Triata Capital Exits ACM Research Position, According to Recent SEC Filing
Key Points
Triata Capita sold 1,929,919 ACM Research shares (ACMR)
Quarter-end ACM Research stake value declined by $76.14 million, reflecting both trading and price movements
Transaction represented 18.6% of Triata Capital's 13F AUM
Post-trade stake: zero shares, $0 value
ACM Research was previously 9.2% of Triata Capital's AUM as of the prior quarter, highlighting the scale of this exit amid fund downsizing
- 10 stocks we like better than ACM Research ›
What happened
According to a Securities and Exchange Commission (SEC) filing dated May 14, 2026, Triata Capital Ltd sold all 1,929,919 shares of ACM Research(NASDAQ:ACMR), during the first quarter. The quarter-end value of the stake fell by $76.14 million, a figure that reflects both trading and price changes.
What else to know
Triata Capital fully exited ACM Research, which no longer represents any portion of its 13F assets under management (AUM)
Top holdings after the filing:
- NASDAQ: PDD: $212.77 million (38.6% of AUM)
- NASDAQ: VNET: $93.86 million (17.0% of AUM)
- NASDAQ: QFIN: $45.14 million (8.2% of AUM)
- NASDAQ: GDS: $43.83 million (7.9% of AUM)
- NYSE: BABA: $29.54 million (5.4% of AUM)
As of May 13, 2026, ACM Research shares were priced at $64.75, up 157.6% over the past year, outperforming the S&P 500 by 131.1 percentage points. ACM Research was previously 9.2% of Triata Capital's AUM in the prior quarter
Company overview
| Metric | Value |
|---|---|
| Price (as of market close May 13, 2026) | $64.75 |
| Market capitalization | $4.68 billion |
| Revenue (TTM) | $960.23 million |
| Net income (TTM) | $91.00 million |
Company snapshot
ACM Research is a leading provider of advanced wafer cleaning and plating equipment for the semiconductor industry, with a market capitalization of $4.29 billion and trailing twelve months revenue of $960.23 million. It develops and sells single-wafer wet cleaning equipment, electro-chemical plating systems, and related process technologies for semiconductor manufacturing.
The company leverages proprietary technologies to improve chip manufacturing yields and process efficiency. Its focus on innovation and direct engagement with global chipmakers positions ACM Research as a key supplier in the rapidly evolving semiconductor equipment market.
ACM Research generates revenue primarily through direct sales of proprietary Ultra C branded equipment and technologies to integrated circuit manufacturers.
It serves global semiconductor foundries and integrated device manufacturers seeking advanced wafer cleaning and plating solutions
What this transaction means for investors
ACM Research makes tools that help chipmakers clean, plate, and process wafers during manufacturing. This lets the company benefit from semiconductor industry spending without making chips itself. Much of ACM’s business runs through ACM Shanghai, its main operating subsidiary, which connects strong equipment demand to the earnings reported by the U.S.-listed parent company.
The first quarter showed both the model's strength and its complications. Revenue rose 34.2% year over year to $231.3 million, supported by demand across a broader equipment lineup, but net income attributable to ACM Research declined from a year earlier. ACM is selling more equipment, but the stock needs profit conversion, not just higher sales, especially as product mix and timing affect how growth reaches shareholders.
For investors, ACM is not a simple semiconductor equipment rally to chase on revenue momentum alone. The company is expanding its product lineup and trying to serve more manufacturing steps, which could make the business more valuable if adoption broadens. But the next read on ACM should come from the income statement, not just shipment or sales growth: investors should monitor whether newer tool categories improve profitability at the U.S.-listed parent while ACM manages export-control limits tied to ACM Shanghai and ACM Korea.
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Eric Trie has no position in any of the stocks mentioned. The Motley Fool recommends Alibaba Group. The Motley Fool has a disclosure policy.
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