Overview

• In its Q2 2025 investor letter, Alger Spectra Fund said its Class A shares outpaced the Russell 3000 Growth Index after equities recovered from a weak first quarter.
• Nvidia reported $46.7 billion in fiscal Q2 revenue with Blackwell chips contributing about 70% of data-center sales, and the fund highlighted Blackwell Ultra trials as extending Nvidia’s advantage.
• Microsoft posted $76.4 billion in fiscal Q4 revenue as Azure growth reaccelerated, with AI-related sales accounting for 16% of Azure’s quarterly growth and guidance pointing to stronger near-term cloud demand.
• Meta delivered $47.5 billion in Q2 revenue, up 22%, with AI-powered ad tools and initiatives like WhatsApp ads supporting monetization alongside a Family of Apps averaging 3.4 billion daily users in March.
• Apple generated $94 billion in June-quarter revenue but lowered guidance on tariff-driven gross margin pressure, while hedge-fund holdings data showed broad institutional interest in Nvidia (235), Microsoft (294), and Meta (260) versus Apple (156) at quarter-end.