Alger Capital Appreciation Institutional Fund Class I
ALARX
NASDAQ- -
USD
- -
- -
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 100 Pearl Street New York NY United States of America 10004
- IPO Date
- Nov 8, 1993
- CIK
- 0000911415
- Website
- alger.com
- Similar Companies
- Business
- Alger Capital Appreciation Institutional Fund Class I (ALARX) is an open-end mutual fund managed by Fred Alger Management, LLC that seeks long-term capital appreciation by investing primarily in growth equity securities of large-cap U.S. companies demonstrating promising growth potential through fundamental research and positive dynamic change; it normally invests at least 85% of its net assets in equity securities, with a portfolio heavily weighted toward technology (42.29%), communication services (23.18%), and consumer cyclical sectors (13.58%), including top holdings such as NVIDIA Corp (13.66%), Microsoft Corp (12.47%), Amazon.com Inc (7.53%), Meta Platforms Inc (7.42%), and Applovin Corp (5.98%). The fund offers institutional investors daily pricing, a net expense ratio of 1.24%, and no front-end or deferred loads, with total net assets of approximately $3.34 billion and share class assets of $1.32 billion as of recent data. Managed by a team including Patrick Kelly (since 2004), Ankur Crawford (since 2015), and Daniel Chung (since 2021), it focuses on U.S. stocks (89.94% allocation) with select non-U.S. exposure (9.12%). Fred Alger Management, LLC, the fund's sponsor and adviser, founded in 1964 and headquartered at 360 Park Avenue South in New York, NY, operates as a privately held growth equity investment manager with approximately $20.6 billion to $32.8 billion in total assets under management across mutual funds, ETFs, separate accounts, and alternative vehicles. The firm serves institutional and individual investors primarily in the United States, with expanding international presence through offices in London and sales in Singapore, targeting high-growth companies in technology, innovation, and dynamic change sectors. Recent developments at Fred Alger Management include the acquisition of Redwood Investments, LLC in January 2024, enhancing international and global growth equity expertise with over $1.6 billion in assets and complementary bottom-up stock selection processes; the October 2025 milestone of its ETF suite surpassing $600 million in assets under management, highlighted by strong performance in AI-focused strategies like the Alger AI Enabler ETF (ALAI) launched in April 2024; and ongoing expansions such as the Alger Russell Innovation Index rebalancing in December 2025. These moves reflect strategic growth in actively managed ETFs, international capabilities, and innovation-themed offerings amid robust portfolio performance, including ALARX's outperformance of the Russell 1000 Growth Index in recent quarters. The firm maintains a multimanager system for diversification and continues to prioritize high-conviction growth equities.