Columbia Threadneedle Investments has released the first-quarter 2026 investor letter for the Columbia Global Technology Growth Fund. Despite a broader market decline characterized by a rotation into energy and commodities, the Fund’s institutional Class shares fell -6.05%, outperforming the S&P Global 1200 Information Technology Index, which dropped -6.57%. This relative strength was primarily driven by strategic security selection within the semiconductor and AI infrastructure sectors, combined with an underweight position in IT services and software. The report further noted that the U.S. economy remains resilient despite ongoing geopolitical uncertainties.
A standout contributor noted in the letter was ASML Holding N.V. (NASDAQ:ASML), the Dutch leader in semiconductor lithography solutions. As of June 15, 2026, ASML shares closed at $1,892.66. The company has demonstrated significant growth, with a one-month return of 27.29% and a substantial 52-week gain of 144.48%, bringing its total market capitalization to $729.46 billion.
In the Q1 2026 letter, the Columbia Global Technology Growth Fund detailed the catalyst for this growth:
“Semiconductor capital equipment companies — including Lam Research (LRCX), Applied Materials (AMAT), ASML Holding N.V. (NASDAQ: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. ASML reported strong results driven by its monopoly position in extreme ultraviolet lithography, and its shares increased over 20%.”
Institutional interest in the company is rising; data indicates that 133 hedge fund portfolios held ASML Holding N.V. at the end of the first quarter, an increase from 101 portfolios in the previous quarter.
