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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 Spectra Fund. This analysis is provided for institutional research purposes only and is not investment advice.
"Alger Spectra returned 25.05% in Q2 2026, outperforming its benchmark by 800 basis points. The fund is positioned in AI infrastructure companies benefiting from record capital spending as the technology enters its agentic phase."
The Alger Spectra Fund returned 25.05% in Q2 2026, outperforming the Russell 3000 Growth Index's 17.05% return. U.S. equities staged a powerful recovery as an April ceasefire between the U.S. and Iran eased energy prices and AI investment accelerated with record capital spending flowing into infrastructure. The fund's performance was driven by positions in AI infrastructure companies including Nebius Group, Astera Labs, and Western Digital, which benefited from surging demand for AI computing power and data center expansion by hyperscale cloud providers. The managers believe AI is entering its agentic phase where systems autonomously execute tasks, accelerating demand for compute capacity and driving growth across the data center ecosystem. Tax incentives from the One Big Beautiful Bill are propelling U.S. business investment in AI-related infrastructure. The fund maintains concentrated exposure to companies building, servicing, and powering data centers while holding short positions in companies facing potential AI disruption. The portfolio's largest sector weightings are Information Technology and Consumer Discretionary.
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