Reinhart discloses 1.59M-share Axcelis Technologies (ACLS) stake

Rhea-AI Filing Summary

Reinhart Partners has disclosed a significant ownership stake in Axcelis Technologies Inc. common stock. The firm reports beneficial ownership of 1,589,898 shares, representing 5.18% of the outstanding common shares as of 12/31/2025.

Reinhart holds sole voting power over 1,457,777 shares and sole dispositive power over 1,589,898 shares, with no shared voting or dispositive authority. The firm certifies these securities were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of Axcelis.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

AXCELIS TECHNOLOGIES INC

(Name of Issuer)

Common Stock

(Title of Class of Securities)

054540208

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 054540208

1

Names of Reporting Persons

REINHART PARTNERS, LLC.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 1,457,777.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 1,589,898.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,589,898.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.2 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: AXCELIS TECHNOLOGIES INC
(b)	Address of issuer's principal executive offices: 108 CHERRY HILL DRIVE, BEVERLY, MASSACHUSETTS, 01915
Item 2.
(a)	Name of person filing: Reinhart Partners
(b)	Address or principal business office or, if none, residence: 11090 N Weston Drive, Mequon, WI 53092
(c)	Citizenship: USA
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 054540208
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 1589898
(b)	Percent of class: 5.18 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 1457777
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 1589898
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

REINHART PARTNERS, LLC.

Signature:	Sandi King
Name/Title:	CCO
Date:	02/12/2026

FAQ

What stake in Axcelis Technologies (ACLS) does Reinhart Partners report?

Reinhart Partners reports beneficial ownership of 1,589,898 Axcelis Technologies common shares, equal to 5.18% of the class. This crosses the 5% threshold that requires public disclosure of holdings under U.S. securities regulations.

As of what date are Reinhart Partners’ Axcelis Technologies holdings measured?

Reinhart’s Axcelis Technologies ownership is measured as of December 31, 2025. The Schedule 13G filing uses this date to calculate the 1,589,898 shares and the 5.18% percentage of the company’s outstanding common stock.

Does Reinhart Partners have voting control over its Axcelis Technologies shares?

Reinhart Partners reports sole voting power over 1,457,777 Axcelis Technologies shares and no shared voting power. It also has sole dispositive power over 1,589,898 shares, indicating exclusive authority to decide how those shares are voted and disposed.

Is Reinhart Partners’ Axcelis Technologies position considered passive or activist?

Reinhart certifies its Axcelis Technologies shares were acquired and are held in the ordinary course of business. The filing states they are not held for the purpose of changing or influencing control of Axcelis, indicating a passive investment intent.

What type of reporting person is Reinhart Partners in this Axcelis filing?

Reinhart Partners is identified as a U.S. entity organized in Delaware and categorized as an investment adviser under SEC rules. The firm files this beneficial ownership report to comply with Schedule 13G reporting requirements for institutional investors.

Who signed the Axcelis Technologies beneficial ownership report for Reinhart Partners?

The Schedule 13G for Axcelis Technologies was signed by Sandi King, Chief Compliance Officer (CCO) of Reinhart Partners. The signatory certifies that the information is true, complete, correct, and that the holdings are not intended to influence control.