Microsoft Corp.’s (MSFT) AI Strategy Gains Revenue Momentum

Fred Alger Management, an investment management company, released its "Alger Spectra Fund" third-quarter 2026 investor letter. The letter can be downloaded here. During the third quarter of 2026, U.S. equities delivered modest gains, with the S&P 500 advancing 2%. Despite robust corporate earnings and resilient consumer spending, market breadth remained weak as 60% of S&P 500 constituents closed lower. Against this backdrop, the fund lagged the Russell 3000 Growth Index. Class A shares of the fund returned 0.29% without a sales charge and -4.98% with sales charges, compared to 0.45% for the index. Consumer Discretionary and Tech drove the relative performance, whereas Communication Services and Utilities dragged.