The curated database of hedge funds that publish investor letters. Research by geography, strategy, and schools of thought.
| # | Fund | Strategy | Style | Geography | AUM | Latest Letter |
|---|---|---|---|---|---|---|
As of Oct 9, 2026
Alger Weatherbie Specialized Growth Fund (Class A shares without sales charge) returned -16.00% net of fees in the third quarter of 2026, underperforming its benchmark, the Russell 2500 Growth Index, which returned -10.35%. Year-to-date net performance stands at -3.59% net of fees compared to 7.28% for the benchmark. The portfolio maintained its largest absolute sector weights in Industrials and Health Care, with Industrials representing the primary sector overweight and Information Technology serving as the largest sector underweight. Portfolio breadth mirrored broader market strain, where roughly 60% of S&P 500 equities finished negative despite large-cap index gains. The investment environment was dominated by crosscurrents including interest rates surging across the curve, the 10-year Treasury yield jumping 83 basis points, and the Federal Reserve increasing rates by 25 basis points in September amid sticky inflation and rising oil prices above $100 per barrel. Skepticism emerged regarding the heavy capital spending required for AI infrastructure and its return on investment. The managers emphasize disciplined fundamental research, noting that while artificial intelligence offers expanding productivity opportunities beyond core hardware suppliers, it concurrently threatens established business models and traditional value metrics. Performance attribution was shaped by positive contributions from Natera (Signatera testing adoption), Impinj (robust RFID demand and supply-chain market share gains), and Hamilton Lane (evergreen fund asset expansion and performance income). Conversely, performance detraction was led by Cardinal Infrastructure due to rising project and subcontracting costs, VSE Corporation following a broader valuation rotation and acquisition integration overhang, and Casella Waste Systems amid elevated fuel expenses and acquisition margin dilution.
Invest in a focused portfolio of approximately 50 small- and mid-cap companies identified through disciplined fundamental research as possessing durable growth potential, competitive moats, and the ability to leverage technological advancements such as AI to enhance productivity.
Careful fundamental research and disciplined stock selection remain essential as AI advances and threatens established legacy businesses, while elevated interest rates and geopolitical commodity shocks require vigilance.
Moderate Conviction Bullish
Market Conviction
Growth Outlook
Risk Appetite
Capital Deployment
Forward Guidance
Language Signal
Perceived Risk
Opportunity Density
Time Horizon
Top Conviction Themes
Key Catalysts
Every insight in this database connects to the original source. Read the actual thesis, see the actual concerns, and make your own call.
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