Why Gabelli Global Growth Fund Added Micron Technology (MU) in Q2

In Q2 2026, the Gabelli Global Growth Fund included Micron Technology Inc. (NASDAQ:MU) as part of its portfolio, marking its second-quarter investor letter. The Fund achieved a return of 12.84% during this period, outperforming the S&P 500 Index and the MSCI All Country World Index, which both returned 15.2% and 15.1%, respectively.

The Fund's emphasis in Q2 2026 was on businesses aligned with long-term growth trends such as artificial intelligence, automation, industrial technology, and defense. With 45 companies in the portfolio at quarter-end, the top five holdings accounted for 25% of portfolio assets, while the top ten represented 43%. The Fund's long-term ownership approach involved concentrating capital in its highest-conviction ideas, accepting short-term volatility for potential long-term value creation.

Gabelli Global Growth Fund highlighted Micron Technology Inc. (NASDAQ:MU) as one of its best picks for 2026. The company is a semiconductor manufacturer that produces memory and storage products, including DRAM, NAND, and other memory technologies used in various applications. In September 2026, Micron Technology Inc. (NASDAQ:MU) closed at approximately $1,043.96 per share, with a market capitalization of around $1.215 trillion.

The Fund added a position in Micron Technology Inc. (NASDAQ:MU), representing 0.9% of net assets, positioning it at the 17th spot on their list of 40 most popular stocks among hedge funds for the upcoming year. As of the first quarter, 184 hedge fund portfolios held Micron Technology Inc. (NASDAQ:MU), up from 154 in the previous quarter.