Overview

• Fred Alger Management reported that Class A shares of the Alger Weatherbie Specialized Growth Fund beat the Russell 2500 Growth Index in the second quarter of 2025.
• The fund attributed early April volatility to President Trump’s tariff move, with stability returning after a 90‑day pause and sentiment improving when reciprocal hikes on China were suspended on May 12, as the S&P 500 finished Q2 at record highs with a 10.94% gain.
• Upstart contributed after strong fiscal first‑quarter results, stable credit trends, growth in auto loans and HELOCs, and a slight full‑year guidance increase.
• Sterling Infrastructure advanced on better‑than‑expected operating results in E‑Infrastructure and Transportation, and management raised full‑year revenue guidance citing a growing E‑Infrastructure backlog.
• Detractors included Neogen, which missed and trimmed guidance, RXO, which fell short as truckload volumes lagged despite higher revenue per shipment, and NeoGenomics, which posted a slight revenue miss but beat on EBITDA and reaffirmed organic revenue guidance.