Columbia Seligman Global Technology Fund outperformed benchmarks on strong semiconductor and AI infrastructure demand in Q2 2026.
Columbia Seligman Global Technology Fund’s Institutional Class shares surged 50.34% in Q2 2026, outpacing the MSCI World Information Technology Index’s 33.65% gain. The fund’s performance was driven by stock selection in semiconductors, technology hardware, and software, alongside an off-benchmark allocation to electrical equipment.
AI infrastructure spending and easing geopolitical tensions fueled a rally in tech stocks, particularly in semiconductors, memory, networking, and servers. The fund expects continued strength in AI and data-center investment, supported by improving software bookings and cloud consumption. However, risks include geopolitical uncertainty, higher interest rates, and valuation pressures from heavy AI spending.
Hewlett Packard Enterprise (HPE) was highlighted as a key holding, reflecting confidence in its role in AI-driven demand. The fund’s strategy focuses on 50–75 tech companies identified through bottom-up GARP research.