The fund outperformed the MSCI World IT Index by 16.69 percentage points as AI infrastructure demand lifted tech stocks.
Columbia Seligman Global Technology Fund’s Institutional Class shares returned 50.34% in the second quarter of 2026, surpassing the MSCI World Information Technology Index’s 33.65% gain. Strong stock selection in semiconductors, hardware, and software, alongside an off-benchmark electrical equipment allocation, drove performance. Exposure to financials, consumer discretionary, and healthcare lagged.
Technology stocks rallied as geopolitical tensions eased and AI infrastructure spending boosted demand for semiconductors, memory, and networking. The fund expects sustained 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.
The strategy holds 50–75 tech companies, using bottom-up GARP research to identify undervalued businesses. The fund missed gains from Sandisk Corporation (SNDK) during the quarter.