2026-10 list · 6 stocks｜Published 2026-10-14 · Updated 2026-10-15
Thermal management stocks make parts and systems that pull heat away from AI server chips as cooling shifts from air to liquid: heat spreaders, cold plates, quick disconnects, heat exchangers and coolant distribution units. Blave's 2026-10 list has 6 stocks, each with a reason and public sources.
Makes thermal and liquid cooling solutions for AI servers; server applications were 66% of Q2 2026 revenue (company slides), and a US broker cited in the press counts it among the main liquid cooling suppliers
Has expanded from server power supplies into liquid cooling cold plates, CDUs and liquid-cooled rack integration; its annual report says liquid cooling shipments to data centers keep growing
Compiled once a month. A company is listed only when at least two public sources (earnings calls, annual reports, MOPS filings, company press releases, major financial media) show it has products or revenue in the theme, and each stock carries a one-line reason and its sources. Advisory stock picks and “theme stock list” articles are not used. Earlier lists are kept, never overwritten.
How is the theme index calculated?
Members are equal-weighted with dividends included (adjusted prices) and rebalanced on the first trading day of each month and whenever a new list takes effect. There was no list before the 2026-10 list took effect; that stretch is backfilled with the 2026-10 list and drawn as a grey dashed line.
What should I watch when backtesting with this list?
Backtesting the past with today's list overstates returns: it only holds companies that later became theme stocks and are still trading. Use each month's own list; treat results from the backfilled period as indicative only.
