Abstract-This paper presents a new power conversion architecture for single-phase grid interface. The proposed architecture is suitable for realizing miniaturized ac-dc converters operating at high frequencies (HF, above 3 MHz) and high power factor, without the need for electrolytic capacitors. It comprises of a line-frequency rectifier, a stack of capacitors, a set of regulating converters, and a power combining converter (or set of power combining converters). The regulating converters have inputs connected to capacitors on the capacitor stack, and provide regulated outputs while also achieving high power factor, with twice-line-frequency energy buffered on the capacitor stack. The power combining converter combines power from the individual regulated outputs to a single output, and may also provide isolation. While this architecture can be utilized with a variety of circuit topologies, it is especially suited for systems operating at HF (above 3 MHz), and we introduce circuit implementations that enable efficient operation in this range. The proposed approach is demonstrated for an LED driver operating from 120 Vac, and supplying a 35 V , 30 W output. The prototype converter operates at a (variable) switching frequency of 5-10 MHz and an efficiency of > 93%. The converter achieves a displacement power density of 130 W/in 3 , while providing a 0.89 power factor, without the use of electrolytic capacitors.