Why Gabelli Global Growth Fund Added Advanced Micro Devices (AMD) in Q2

In Q2 2026, the Gabelli Global Growth Fund included Advanced Micro Devices Inc. (NASDAQ:AMD) as one of its new positions, allocating 1.1% of its net assets. The company designs and develops high-performance computing, graphics, and adaptive computing products, serving markets such as data centers, PCs, gaming, and embedded applications.

As of September 21, 2026, AMD's stock closed at approximately $615.52 per share, with a market capitalization of around $1.01 trillion. The fund noted AMD's inclusion on their list of the 40 most popular stocks among hedge funds for 2026. The fund also mentioned that 164 hedge fund portfolios held AMD at the end of Q1 2026, a figure that had increased from 134 in the previous quarter.

Despite acknowledging the risk associated with AMD, the fund maintained its conviction in the potential for AI stocks to deliver higher returns within a shorter time frame.