Here's How Not Holding Palantir Technologies (PLTR) Impacted Columbia Seligman Global Technology Fund's Performance

Columbia Threadneedle Investments, an investment management company, released its “Columbia Seligman Global Technology Fund” second-quarter 2025 investor letter. A copy of the letter can be downloaded here. The US equities strongly rebounded in the second quarter following a turbulent first quarter. The fund’s Institutional Class shares returned 19.52% in the quarter, compared to a 23.18% return for the MSCI World Information Technology Index-Net. In addition, you can check the fund’s top 5 holdings for its best picks for 2025.

In its second-quarter 2025 investor letter, Columbia Seligman Global Technology Fund highlighted stocks such as Palantir Technologies Inc. (NASDAQ:PLTR). Palantir Technologies Inc. (NASDAQ:PLTR) builds and deploys software platforms for the intelligence community.  The one-month return of Palantir Technologies Inc. (NASDAQ:PLTR) was 13.56%, and its shares gained 383.99% of their value over the last 52 weeks. On September 24, 2025, Palantir Technologies Inc. (NASDAQ:PLTR) stock closed at $179.56 per share, with a market capitalization of $425.978 billion.

Columbia Seligman Global Technology Fund stated the following regarding Palantir Technologies Inc. (NASDAQ:PLTR) in its second quarter 2025 investor letter:

"The fund did not hold a position in Palantir Technologies Inc. (NASDAQ:PLTR). Not holding a position in Palantir Technologies detracted from relative performance. Palantir's stock price rose during the quarter as the company secured a number of contracts with U.S. government agencies, including the Department of Defense and Immigrations and Customs Enforcement."

Palantir Technologies Inc. (NASDAQ:PLTR) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 78 hedge fund portfolios held Palantir Technologies Inc. (NASDAQ:PLTR) at the end of the second quarter, which was 77 in the previous quarter. While we acknowledge the potential of Palantir Technologies Inc. (NASDAQ:PLTR) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

In another article, we covered Palantir Technologies Inc. (NASDAQ:PLTR) and shared a list of biggest stocks from Renaissance Technologies portfolio. In addition, please check out our hedge fund investor letters Q2 2025 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.