Alger Focus Equity Fund
ALCFX
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- Alger Focus Equity Fund (ALCFX) is an open-end equity mutual fund managed by Fred Alger Management, LLC that seeks long-term capital appreciation by investing primarily in growth stocks of companies across diversified market capitalizations and sectors worldwide; it typically holds approximately 50 securities, with a focus on issuers undergoing positive dynamic change, and benchmarks its performance against the Russell 1000 Growth Index and S&P 500 Index. The fund offers Class C shares with an expense ratio of 1.72%, net assets of approximately $2.65 billion, and top holdings including NVIDIA Corp., Microsoft Corp., Meta Platforms Inc., Amazon.com Inc., and AppLovin Corp., representing over 55% of the portfolio as of March 31, 2025; it engages in active trading with a turnover ratio of 92.43%. Launched on November 8, 1993, as part of The Alger Institutional Funds and domiciled in the United States, the fund operates globally with primary exposure to U.S. equities (around 85-86%), supplemented by developed Asia, Eurozone, and other regions. Fred Alger Management, LLC, the fund's investment adviser founded in 1964 and headquartered at 360 Park Avenue South in New York, NY, pioneers growth-style investment management and oversees a suite of mutual funds, ETFs, and separate accounts with total firm assets exceeding $32 billion; key portfolio managers include Daniel C. Chung, CFA, Chief Executive Officer and Chief Investment Officer since February 2021, alongside Patrick Kelly and Ankur Crawford. The firm maintains affiliate offices in Boston and London, with Weatherbie Capital, LLC, as a wholly-owned subsidiary specializing in small- and mid-cap growth equity. Recent developments at Fred Alger Management include the launch of its first perpetual interval fund in September 2025, focused on venture capital and private equity in growth companies; the firm's suite of ETFs surpassing $600 million in assets under management as of October 8, 2025, with three ETFs outperforming the S&P 500 by over 21% year-to-date through September 30, 2025; and ongoing portfolio adjustments, such as increased holdings in Talen Energy and new positions in companies like QXO, Inc., Cidara Therapeutics, Inc., and Rubrik, Inc., reflecting continued emphasis on innovative growth opportunities. The firm remains family-owned, with leadership emphasizing differentiated momentum and lifecycle change strategies across its funds, including Alger Focus Equity.