Alger Weatherbie Specialized Growth Fund Hold StepStone Group (STEP) Despite Challenges

Alger Weatherbie Specialized Growth Fund Holds Step Stone Group (STEP) Despite Challenges Soumya Eswaran Mon, May 25, 2026 at 11:14 PM GMT+7 3 min read STEP ^GSPC 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 StepStone Group Inc. (NASDAQ:STEP). StepStone Group Inc. (NASDAQ:STEP) is a leading private market investment firm specializing in primary, direct, fund of funds, secondary direct, and secondary indirect investments. On May 22, 2026, StepStone Group Inc. (NASDAQ:STEP) closed at $53.74 per share. One-month return of StepStone Group Inc. (NASDAQ:STEP) was 7.65%, and its shares lost 8.48% over the past 52 weeks. StepStone Group Inc. (NASDAQ:STEP) has a market capitalization of $6.74 billion.

Alger Weatherbie Specialized Growth Fund stated the following regarding StepStone Group Inc. (NASDAQ:STEP) in its Q1 2026 investor letter: