Leadership and Experience
Paul Wick has been at the helm of the Columbia Seligman Technology and Innovation Fund since 1990. With over three decades of leadership, Wick’s experience is unmatched in the realm of tech investing.
Faced with a mere two weeks to transition into his role, Wick quickly adapted to the demands of leading a tech-focused fund. His predecessor’s retirement paved the way for Wick’s movement from high-yield bonds to technology investments, marking the beginning of his extensive journey.
Performance and Strategy
Over the last 15 years, Wick has consistently performed better than 93% of U.S. technology funds, according to Morningstar data. A hypothetical $10,000 investment in the fund 10 years ago would have grown to approximately $109,000 today.
Even amid the AI-driven market surge, the fund continues to excel, outperforming 94% of its peers in the past five years. In 2026, despite market volatility affecting AI trades, Wick’s fund has achieved a remarkable nearly 55% increase, significantly surpassing the S&P 500’s 13% gain.
Investing Approach
Wick attributes his success to several key factors, including continuity at the fund and the long-term collaboration with his team members. Geographical advantage plays a role as well, with Wick based in Menlo Park, California, providing proximity to the heart of Silicon Valley.
The fund manages $29 billion in assets, while Columbia Threadneedle oversees more than $700 billion. This substantial size affords Wick preferential access to company managements.
Wick’s team possesses deep expertise, with members like semiconductor analysts who have industry experience. This expertise is crucial for informed stock selection.
Wick’s strategy involves identifying companies with competitive moats, credible management, and attractive valuations. Recently, the fund has leaned toward AI trades, particularly capex beneficiaries. After a strong performance in June, Wick diversified into software, internet, and cybersecurity stocks.
Lam Research and Bloom Energy are notable mentions, offering entry points after recent declines. Onsemi and NXP provide defensive options outside of AI trades, trading at appealing valuations.
Top Holdings
As of September 30, the fund’s top holdings and their weightings are:
- Bloom Energy (9.48%)
- Lam Research (5.38%)
- Nvidia (4.79%)
- Broadcom (4.78%)
- Marvell Technology (3.41%)
- Alphabet (3.3%)
- Microsoft (3.02%)
- Apple (2.92%)
- GoDaddy (2.68%)
- Western Digital (2.32%)
Personal Insights
Outside of investing, Wick enjoys golf, tennis, scuba diving, and skiing. He has dived in various global destinations, including the Red Sea, the Galapagos, and the Caribbean.
Wick also appreciates wine, recalling a memorable bottle from Stag’s Leap Wine Cellars during a hedge fund anniversary party.
His vacation home in Kona, Hawaii ranks as one of his favorite spots.
Reflecting on career moments, Wick shares the success of shorting Allakos in his hedge fund strategy, with the stock plummeting 90% in a single day following failed trials.