Columbia Threadneedle Tech Fund Rises 12.06% in Q3, Slightly Trails IT Benchmark

Overview

• Management reports a 12.06% composite return for Q3 2025 versus 12.82% for the S&P Global 1200 Information Technology Index, citing stock selection as the key driver.
• NVIDIA is highlighted as a core holding benefiting from extraordinary data‑center demand and a robust CUDA‑centric software ecosystem, with the letter referencing an announced $100 billion investment in OpenAI.
• Broadcom is cited for strong AI accelerator and networking demand, including a $10 billion custom AI chip order slated to begin in 2026 and a backlog exceeding $100 billion.
• Astera Labs more than doubled during the quarter on record revenue growth from its Scorpio connectivity products that address AI data‑center bottlenecks.
• Accenture and ServiceNow underperformed as bookings and guidance raised near‑term demand concerns, while Robinhood entered the S&P 500 and posted strong growth in transaction‑based revenues alongside moves into international markets and tokenized assets.