Fred Alger Management, an investment management company, released its “Alger Weatherbie Specialized Growth Fund” first-quarter 2026 investor letter. A copy of the letter can be downloaded here. In the first quarter of 2026, the Class A shares of the Alger Weatherbie Specialized Growth Fund underperformed the Russell 2500 Growth Index. The Information Technology and Consumer Staples sectors contributed to the relative performance, while Health Care and Financials detracted. US equities experienced volatility in the first quarter of 2026, with the S&P 500 Index falling 4.33%. The AI disruption and the U.S.-Iran conflict altered the economic landscape during this period. The Fund focuses on identifying companies that are leveraging AI technology for task automation and workflow management. In addition, please check the Fund’s top five holdings to know its best picks in 2026.
In its first-quarter 2026 investor letter, Alger Weatherbie Specialized Growth Fund highlighted stocks like Legence Corp. (NASDAQ:LGN). Legence Corp. (NASDAQ:LGN) is an engineering and construction services provider that engages in the engineering, installation, and maintenance services for mission-critical systems in buildings. On May 22, 2026, Legence Corp. (NASDAQ:LGN) closed at $81.58 per share. One-month return of Legence Corp. (NASDAQ:LGN) was 0.18%, and YTD its shares gained 89.54%. Legence Corp. (NASDAQ:LGN) has a market capitalization of $13.4 billion.
Alger Weatherbie Specialized Growth Fund stated the following regarding Legence Corp. (NASDAQ:LGN) in its Q1 2026 investor letter:
“Legence Corp. (NASDAQ:LGN) is a specialty services company that provides engineering, consulting, installation, and maintenance for mission-critical building systems, serving customers across data centers, government facilities, life sciences, and other complex commercial environments. We believe the company is well positioned at the intersection of several durable demand drivers, as the growing complexity of modern building infrastructure requires increasingly specialized expertise. During the quarter, shares contributed positively to performance after the company delivered strong results highlighted by accelerating revenue growth, robust earnings expansion, and solid free cash flow generation. Management raised its full-year guidance meaningfully, reinforcing confidence in the trajectory of the business. Data center-related projects continued to be the primary driver of upside, while management noted encouraging strength in its government and life sciences end markets as well.”
