Columbia Threadneedle Investments, an investment management company, released its first-quarter 2026 investor letter for the “Columbia Global Technology Growth Fund”. A copy of the letter is available to download here. In Q1 2026, the Fund’s institutional Class shares fell –6.05%, outperforming the S&P Global 1200 Information Technology Index, which declined –6.57%. Positive performance was mainly due to security selection in semiconductor and AI infrastructure companies, along with an underweight position in software and IT services. Broad markets declined amid a reversal in market dynamics, with energy and commodities surging while growth and tech fell sharply. The letter highlighted that, despite geopolitical risks and uncertainty, the U.S. economy continues to show resilience. In addition, you can check the Fund’s top 5 holdings for its best picks for 2026.
In its first-quarter 2026 investor letter, Columbia Global Technology Growth Fund highlighted Applied Materials, Inc. (NASDAQ:AMAT) as a leading contributor. Applied Materials, Inc. (NASDAQ:AMAT) is a leading supplier of materials engineering solutions, equipment, services, and software to the semiconductor and related industries. On June 15, 2026, Applied Materials, Inc. (NASDAQ:AMAT) closed at $585.78 per share. One-month return of Applied Materials, Inc. (NASDAQ:AMAT) was 47.17%, and its shares gained 243.98% over the past 52 weeks. Applied Materials, Inc. (NASDAQ:AMAT) has a market capitalization of $465.08 billion.
Columbia Global Technology Growth Fund stated the following regarding Applied Materials, Inc. (NASDAQ:AMAT) in its Q1 2026 investor letter:
“Semiconductor capital equipment companies — including Lam Research (LRCX), Applied Materials, Inc. (NASDAQ:AMAT), ASML and Taiwan Semiconductor Manufacturing Co. (TSM) — delivered strong first-quarter performance as the AI infrastructure super cycle drove record-setting capital expenditure commitments from the world’s leading foundries and memory manufacturers. Applied Materials rallied after reporting strong results powered by DRAM (dynamic random-access memory) chip revenue and expanding demand for transistor processing tools, before giving back gains in March alongside the broader market.”
Applied Materials, Inc. (NASDAQ:AMAT) ranks 39 on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 138 hedge fund portfolios held Applied Materials, Inc. (NASDAQ:AMAT) at the end of the first quarter, up from 111 in the previous quarter. In the second quarter of fiscal 2026, Applied Materials, Inc. (NASDAQ:AMAT) reported record revenue of $7.91 billion, up 13% sequentially and 11% year-over-year. While we acknowledge the risk and potential of Applied Materials, Inc. (NASDAQ:AMAT) 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 APPLIED MATERIALS, INC. (NASDAQ:AMAT) and that has 10,000% upside potential, check out our report about this cheapest AI stock.
In another article, we covered Applied Materials, Inc. (NASDAQ:AMAT) and shared billionaire Ken Fisher’s top high-growth stock picks. In addition, please check out our hedge fund investor letters Q1 2026 page for more investor letters from hedge funds and other leading investors.
READ NEXT: 33 Stocks That Should Double in 3 Years and 15 Stocks That Will Make You Rich in 10 Years.
Disclosure: None. This article is originally published at Insider Monkey.
