Alger Spectra Fund’s Q2 2024 Investor Letter

Fred Alger Management, an investment management company, released its “Alger Spectra Fund” second quarter 2024 investor letter. In 2024’s second quarter, U.S. stocks were positive, with the S&P 500 rising 4.28%. The Materials and Industrials sectors underperformed compared to the S&P 500 Index, while the Information Technology and Communication Services sectors outperformed. There was a notable return gap in the second quarter, where large-cap growth stocks saw meaningful gains, while smaller-cap and particularly value stocks lagged. Against this backdrop, the fund outperformed the Russell 3000 Growth Index in the quarter. In addition, please check the fund’s top five holdings to know its best picks in 2024.

A copy of Alger Spectra Fund’s Q2 2024 investor letter can be downloaded here.