The Alger Capital Appreciation Fund’s Class A shares did not meet the performance benchmark of the Russell 1000 Growth Index during the initial quarter of 2026. This period saw the fund heavily invested in Information Technology and Communication Services. These sectors, particularly Information Technology and Financials, were beneficial to the fund's relative standing. Conversely, holdings in Consumer Discretionary and Utilities sectors posed challenges, detracting from the overall performance.

The investment approach of the fund centers on identifying and investing in growth equity securities across companies of various sizes. This is achieved through rigorous fundamental analysis to pinpoint businesses with substantial growth prospects. The overarching goal of this strategy is to realize significant long-term capital appreciation for its investors. The fund’s focus on growth companies underscores a belief in the potential for innovation and expansion to drive future returns.

Amidst market fluctuations, the fund’s commitment to a growth-oriented investment strategy remains steadfast. By consistently seeking out companies with strong growth potential, the fund aims to deliver value to its shareholders over the long term. This strategic focus highlights the importance of thorough research and a forward-looking perspective in navigating the complexities of the financial markets, ultimately striving for positive and sustained outcomes.