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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Themes | Quick Take |
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Buyside Digest is not affiliated with, and does not endorse, Alger Mid Cap Focus Fund. This analysis is provided for institutional research purposes only and is not investment advice.
"The fund returned 25.44% in Q2 2026, significantly outperforming its benchmark by capitalizing on the AI infrastructure buildout. The manager is positioned in companies enabling agentic AI through semiconductor connectivity, GPU-accelerated cloud platforms, and data center storage."
The Alger Mid Cap Focus Fund returned 25.44% in Q2 2026, outperforming the Russell Midcap Growth Index's 14.55% return. The fund is positioned to capitalize on the AI infrastructure buildout as artificial intelligence enters its agentic phase, where systems autonomously execute tasks and coordinate workflows. This shift is accelerating demand for compute capacity and driving growth across companies that build, service, and power data centers. Top contributors included Astera Labs, which provides high-speed semiconductor connectivity solutions solving bottlenecks in AI server environments; Nebius Group, a specialized AI infrastructure company with a vertically integrated cloud platform; and Western Digital, benefiting from rising hyperscaler data center investment and improved HDD industry dynamics. The fund's largest sector weightings are Information Technology and Industrials, with the largest overweight in Information Technology. Tax incentives from the One Big Beautiful Bill are propelling U.S. business investment in AI infrastructure, which the manager views as becoming a more prominent engine of economic growth.
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