Columbia Threadneedle Investments, an investment management company, released its “Columbia Seligman Global Technology Fund” second quarter 2026 investor letter. A copy of the letter can be downloaded here. During the quarter, the Fund’s Institutional Class shares returned 50.34%, outperforming the MSCI World Information Technology Index’s 33.65% gain. Stock selection in semiconductors, technology hardware and software, together with an off-benchmark electrical equipment allocation, supported relative performance, while exposure to financials, consumer discretionary and healthcare detracted. Technology stocks rallied as concerns over the Iran conflict eased and AI infrastructure spending boosted demand for semiconductors, memory, networking, servers and power solutions. The Fund expects AI and data-centre investment to remain strong, supported by broadening earnings growth and improving software bookings, cloud consumption and customer spending. However, geopolitical uncertainty, higher interest rates and heavy AI investment could pressure valuations and free cash flow. The strategy holds 50–75 technology companies across market capitalisations and uses bottom-up GARP research to identify misunderstood and undervalued businesses in the technology industry. In addition, please check the Fund’s top five holdings to know its best picks in 2026.
In its second-quarter 2026 investor letter, Columbia Seligman Global Technology Fund highlighted Micron Technology, Inc. (NASDAQ:MU). Micron Technology, Inc. (NASDAQ:MU) designs, develops, manufactures, and sells memory and storage products in the United States and internationally. On July 29, 2026, Micron Technology, Inc. (NASDAQ:MU) closed at $739.00 per share. One-month return of Micron Technology, Inc. (NASDAQ:MU) was -24.25% and its shares gained 577.11% over the past 52 weeks. Micron Technology, Inc. (NASDAQ:MU) has a market capitalization of $834.62 billion.
Columbia Seligman Global Technology Fund stated the following regarding Micron Technology, Inc. (NASDAQ:MU) in its Q2 2026 investor letter:
“The fund did not own memory providers such as Micron Technology, Inc. (NASDAQ:MU) during the quarter, which ultimately detracted from performance relative to the MSCI World Information Technology Index. MU have been beneficiaries of a massive increase in demand for high-bandwidth memory to support AI workloads and have seen large price increases for their solutions. Stock price for the company reflected that sentiment, with large increases during the quarter.”
Micron Technology, Inc. (NASDAQ:MU) is in 17th position on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 154 hedge fund portfolios held Micron Technology, Inc. (NASDAQ:MU) at the end of the first quarter, up from 137 in the previous quarter. While we acknowledge the risk and potential of Micron Technology, Inc. (NASDAQ:MU) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than Micron Technology, Inc. (NASDAQ:MU) and that has 10,000% upside potential, check out our report about this cheapest AI stock.
In another article, we explored Micron Technology, Inc. (NASDAQ:MU) and noted CXMT’s noteworthy IPO and its effects on memory and storage solution companies. In its Q2 2026, investor update, Janus Henderson Global Sustainable Equity Fund noted that Micron Technology, Inc. (NASDAQ:MU) rose sharply on booming demand for high‑bandwidth memory. In addition, please check out our hedge fund investor letters Q2 2026 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
