Alger Capital Appreciation Fund Highlights Nebius Group Growth in Q1 Review

Fred Alger Management has released its first-quarter 2026 investor letter for the Alger Capital Appreciation Fund, providing a detailed look at the drivers behind its recent portfolio performance. The report outlines the strategic positioning of the fund and the specific assets that influenced its trajectory during the start of the year. According to the letter, the Class A shares of the Alger Capital Appreciation Fund underperformed the Russell 1000 Growth Index during the first quarter. Despite this relative lag, the firm noted that the Information Technology and Financials sectors provided meaningful contributions to the fund's overall results. A key highlight of the report is the performance of the Nebius Group (NBIS). The investment management firm stated that several reinforcing catalysts acted to boost the company's position throughout the quarter, signaling a positive outlook for the asset within the fund's growth-oriented strategy. While the broader fund faced headwinds compared to its benchmark, the conviction regarding NBIS and the contributions from the tech and financial sectors suggest a targeted approach to capturing growth in high-conviction names despite wider market volatility.