Columbia Threadneedle Investments, an investment management company released its “Columbia Seligman Global Technology Fund” fourth quarter 2024 investor letter. A copy of the letter can be downloaded here. The U.S. stock market rose 2.75% in Q4, bringing its full-year return to 24.51%, as measured by the Russell 1000 Index. The November election result removed investor uncertainty, raising hopes for pro-growth government policies. In addition, U.S. equities remained attractive due to high economic growth. The fund’s Institutional Class shares returned 7.45% in the quarter, compared to a 4.61% 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 2024.
In its fourth quarter 2024 investor letter, Columbia Seligman Global Technology Fund emphasized stocks such as Marvell Technology, Inc. (NASDAQ:MRVL). Marvell Technology, Inc. (NASDAQ:MRVL) offers data infrastructure semiconductor solutions, spanning the data center core to the network edge. The one-month return of Marvell Technology, Inc. (NASDAQ:MRVL) was -32.51%, and its shares gained 5.71% of their value over the last 52 weeks. On March 12, 2025, Marvell Technology, Inc. (NASDAQ:MRVL) stock closed at $69.85 per share with a market capitalization of $60.441 billion.
Columbia Seligman Global Technology Fund stated the following regarding Marvell Technology, Inc. (NASDAQ:MRVL) in its Q4 2024 investor letter:
“The portfolio’s holdings in semiconductor and semiconductor equipment companies such as Broadcom and Marvell Technology, Inc. (NASDAQ:MRVL) contributed to performance relative to the fund’s benchmark. Broadcom and Marvell were two overweight positions for the portfolio compared to the benchmark and both company’s stock prices moved higher during the fourth quarter. Marvell Technology is a semiconductor chip manufacturer that primarily focuses on developing and producing technology for data infrastructure. During the fourth quarter, Marvell announced an expansion of its existing relationship with Amazon Web Services (AWS), which includes collaboration across multiple AWS products and the use of AWS’ cloud infrastructure.”
An assembly line in a semiconductor factory, with workers at their stations.
Marvell Technology, Inc. (NASDAQ:MRVL) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 105 hedge fund portfolios held Marvell Technology, Inc. (NASDAQ:MRVL) at the end of the fourth quarter compared to 70 in the third quarter. Marvell Technology, Inc. (NASDAQ:MRVL) reported a record revenue of $1.817 billion in the fourth quarter of fiscal 2025, above the midpoint of guidance, surging 20% sequentially and 27% year-over-year. While we acknowledge the potential of Marvell Technology, Inc. (NASDAQ:MRVL) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
In another article, we discussed Marvell Technology, Inc. (NASDAQ:MRVL) and shared the list of top beaten down large cap stocks that can double according to Wall Street. In addition, please check out our hedge fund investor letters Q4 2024 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.