Fred Alger Management, LLC
Reported US equity positions for Q1 2026 — $22.8B across 522 positions.
| Holding | Reported value | Share of portfolio | Shares |
|---|---|---|---|
| NVDA NVIDIA Corporation | $2.9B | 12.5% | 16,381,918 |
| MSFT Microsoft Corporation | $1.8B | 8.1% | 4,986,013 |
| AMZN Amazon.com, Inc. | $1.5B | 6.5% | 7,153,123 |
| AAPL Apple Inc. | $1.2B | 5.2% | 4,636,913 |
| GOOG Alphabet Inc. - Class C Capital Stock | $1.1B | 4.8% | 3,823,140 |
| META Meta Platforms, Inc. | $1.0B | 4.5% | 1,779,598 |
| N97284108 Nebius Group N.V. Class A | $996.0M | 4.4% | 9,599,306 |
| AVGO Broadcom Inc. | $912.9M | 4.0% | 2,949,411 |
| WDC Western Digital Corporation | $719.5M | 3.2% | 2,659,835 |
| TSLA Tesla, Inc. | $678.7M | 3.0% | 1,825,663 |
| APP Applovin Corporation | $466.9M | 2.1% | 1,173,040 |
| QXO QXO, Inc. | $435.1M | 1.9% | 22,404,712 |
| TLN Talen Energy Corporation | $378.6M | 1.7% | 1,185,953 |
| NTRA Natera, Inc. | $351.3M | 1.5% | 1,756,472 |
| GEV GE Vernova Inc. | $297.6M | 1.3% | 340,739 |
| ALAB Astera Labs, Inc. | $282.0M | 1.2% | 2,573,005 |
| SE Sea Limited American Preferred | $279.1M | 1.2% | 3,370,698 |
| GFL GFL Environmental Inc. Subordinate voting shares, no par value | $251.1M | 1.1% | 6,017,527 |
| ARWR Arrowhead Pharmaceuticals, Inc. | $209.6M | 0.9% | 3,342,493 |
| HEI.A Heico Corporation | $202.9M | 0.9% | 961,365 |
| NFLX Netflix, Inc. | $195.5M | 0.9% | 2,032,997 |
| ISRG Intuitive Surgical, Inc. | $178.3M | 0.8% | 386,739 |
| MELI MercadoLibre, Inc. | $163.8M | 0.7% | 94,718 |
| G0593M107 AstraZeneca PLC | $151.4M | 0.7% | 768,754 |
| ROKU Roku, Inc. | $150.6M | 0.7% | 1,591,123 |
| RKT Rocket Companies, Inc. Class A | $145.2M | 0.6% | 10,189,429 |
| BIIB Biogen Inc. | $134.4M | 0.6% | 733,194 |
| FIGR Figure Technology Solutions, Inc. Class A | $130.3M | 0.6% | 3,838,851 |
| VRT Vertiv Holdings, LLC Class A | $118.5M | 0.5% | 472,924 |
| NET Cloudflare, Inc. Class A | $111.0M | 0.5% | 538,062 |
| CAH Cardinal Health, Inc. | $110.4M | 0.5% | 522,453 |
| SHOP Shopify Inc. - Class A Subordinate Voting Shares | $110.4M | 0.5% | 930,697 |
| LLY Eli Lilly and Company | $109.2M | 0.5% | 118,770 |
| MDB MongoDB, Inc. | $107.4M | 0.5% | 438,613 |
| WELL Welltower Inc. | $105.5M | 0.5% | 533,533 |
| DNTH Dianthus Therapeutics, Inc. | $97.5M | 0.4% | 1,161,923 |
| RBC RBC Bearings Incorporated | $97.3M | 0.4% | 179,134 |
| PLTR Palantir Technologies Inc. | $95.2M | 0.4% | 651,134 |
| DWDPEUR DuPont de Nemours, Inc. | $92.7M | 0.4% | 2,024,564 |
| BSX Boston Scientific Corporation | $91.3M | 0.4% | 1,454,619 |
| ANET Arista Networks, Inc. | $83.8M | 0.4% | 682,773 |
| JNJ Johnson & Johnson | $81.8M | 0.4% | 334,592 |
| HOOD Robinhood Markets, Inc. | $77.2M | 0.3% | 1,114,474 |
| NRG NRG Energy, Inc. | $72.6M | 0.3% | 497,083 |
| 04351P101 Ascendis Pharma A/S Sponsored ADR | $69.7M | 0.3% | 304,896 |
| GOOGL Alphabet Inc. | $66.6M | 0.3% | 231,491 |
| TPC Tutor Perini Corporation | $62.5M | 0.3% | 809,737 |
| CEG Constellation Energy Corporation - Common Stock When-Issued | $59.2M | 0.3% | 211,998 |
| G3730V105 FTAI Aviation Ltd. | $58.8M | 0.3% | 239,933 |
| GH Guardant Health, Inc. | $57.5M | 0.3% | 622,259 |
| HEI Heico Corporation | $54.3M | 0.2% | 198,049 |
| G8068L108 SharkNinja, Inc. | $54.0M | 0.2% | 509,518 |
| RGEN Repligen Corporation | $51.2M | 0.2% | 434,774 |
| FSV FirstService Corporation | $50.9M | 0.2% | 366,514 |
| EQPT EquipmentShare.com, Inc. Class A | $50.2M | 0.2% | 2,466,238 |
| CAT Caterpillar, Inc. | $49.6M | 0.2% | 70,030 |
| VSEC VSE Corporation | $48.7M | 0.2% | 264,254 |
| L8681T102 Spotify Technology SA | $48.3M | 0.2% | 99,688 |
| UNH UnitedHealth Group Incorporated Common Stock (DE) | $48.1M | 0.2% | 177,706 |
| COGT Cogent Biosciences, Inc. | $47.7M | 0.2% | 1,239,700 |
Long US equity positions only, as filed. 13F does not cover short positions, cash, bonds or non-US listings, so this is not the whole portfolio.
What changed last quarter
| Holding | Change | Now | Was | Shares |
|---|---|---|---|---|
| NVDA NVIDIA Corporation | Add | $2.9B | $2.9B | +7% |
| AMZN Amazon.com, Inc. | Add | $1.5B | $1.6B | +1% |
| AAPL Apple Inc. | Add | $1.2B | $1.2B | +2% |
| GOOG Alphabet Inc. - Class C Capital Stock | Add | $1.1B | $1.1B | +9% |
| META Meta Platforms, Inc. | Trim | $1.0B | $1.3B | -10% |
| N97284108 Nebius Group N.V. Class A | Add | $996.0M | $664.4M | +21% |
| AVGO Broadcom Inc. | Add | $912.9M | $995.5M | +3% |
| TSLA Tesla, Inc. | Add | $678.7M | $743.4M | +10% |
| APP Applovin Corporation | Trim | $466.9M | $1.1B | -30% |
| QXO QXO, Inc. | Add | $435.1M | $307.2M | +41% |
| TLN Talen Energy Corporation | Trim | $378.6M | $676.2M | -34% |
| NTRA Natera, Inc. | Trim | $351.3M | $417.5M | -4% |
| GEV GE Vernova Inc. | Trim | $297.6M | $280.9M | -21% |
| ALAB Astera Labs, Inc. | Add | $282.0M | $321.9M | +33% |
| SE Sea Limited American Preferred | Add | $279.1M | $353.0M | +22% |
| GFL GFL Environmental Inc. Subordinate voting shares, no par value | Add | $251.1M | $215.7M | +20% |
| ARWR Arrowhead Pharmaceuticals, Inc. | Add | $209.6M | $121.7M | +82% |
| HEI.A Heico Corporation | Add | $202.9M | $225.4M | +8% |
| NFLX Netflix, Inc. | Trim | $195.5M | $258.0M | -26% |
| ISRG Intuitive Surgical, Inc. | Add | $178.3M | $198.8M | +10% |
| MELI MercadoLibre, Inc. | Add | $163.8M | $174.5M | +9% |
| ROKU Roku, Inc. | Add | $150.6M | $154.2M | +12% |
| BIIB Biogen Inc. | Trim | $134.4M | $140.6M | -8% |
| FIGR Figure Technology Solutions, Inc. Class A | Add | $130.3M | $67.4M | +133% |
| VRT Vertiv Holdings, LLC Class A | Trim | $118.5M | $93.8M | -18% |
| NET Cloudflare, Inc. Class A | Add | $111.0M | $86.5M | +23% |
| CAH Cardinal Health, Inc. | Add | $110.4M | $83.2M | +29% |
| SHOP Shopify Inc. - Class A Subordinate Voting Shares | Add | $110.4M | $94.7M | +58% |
| LLY Eli Lilly and Company | Add | $109.2M | $108.1M | +18% |
| MDB MongoDB, Inc. | Trim | $107.4M | $235.7M | -22% |
| RBC RBC Bearings Incorporated | Add | $97.3M | $78.0M | +3% |
| DWDPEUR DuPont de Nemours, Inc. | Trim | $92.7M | $96.1M | -15% |
| BSX Boston Scientific Corporation | Add | $91.3M | $104.6M | +33% |
| JNJ Johnson & Johnson | Add | $81.8M | $13.4M | +416% |
| HOOD Robinhood Markets, Inc. | Add | $77.2M | $107.1M | +18% |
| 04351P101 Ascendis Pharma A/S Sponsored ADR | Trim | $69.7M | $75.1M | -13% |
| GOOGL Alphabet Inc. | Trim | $66.6M | $76.1M | -5% |
| TPC Tutor Perini Corporation | Trim | $62.5M | $74.1M | -27% |
| CEG Constellation Energy Corporation - Common Stock When-Issued | Trim | $59.2M | $179.8M | -58% |
| G3730V105 FTAI Aviation Ltd. | Trim | $58.8M | $74.2M | -36% |
New and exited positions are only shown for managers whose entire filed portfolio fits inside the positions stored here. For a manager filing more than that, a holding leaving the stored set is indistinguishable from a holding being sold, so those are reported as adds and trims only.
What a 13F is
Any institutional manager exercising discretion over more than $100 million in US-listed equities must file a Form 13F with the SEC within 45 days of each quarter end, listing what they held on the last day of that quarter. The threshold was set in 1975 and has never been raised, so the filer population now runs to several thousand.
The four things it does not tell you
- It is stale. A filing describes positions as of quarter end and can arrive 45 days later. A manager who sold everything in week one of the new quarter files the same document as one who held.
- Long US equities only. No short positions, no cash, no bonds, no commodities, no foreign listings. A fund that looks heavily long in a 13F may be hedged in instruments that never appear.
- Not the whole firm. Assets are reported by the entity with discretion, so one manager can file under several CIKs, and the figure here is what that entity reported.
- Confidential treatment exists. A manager can apply to delay disclosing a position while building it. Those holdings appear later, if at all.
Why the biggest filers are not the interesting ones
The largest managers by reported value are index providers — they hold nearly everything, in proportion to the indices they track, because clients asked them to. Reading their filings for conviction is a category error. The filings worth attention are concentrated ones, where a small number of positions make up most of the portfolio, since that reflects a decision rather than a mandate.
The share-of-portfolio column is the one to read for this. A position that is 15% of a fund says something; the same dollar amount at 0.2% of an index tracker does not.
Where this comes from
The SEC's own quarterly Form 13F structured data sets, parsed here rather than bought from a vendor. Holdings are identified in the filings by CUSIP, and the mapping from CUSIP to ticker is the awkward part — that identifier is licensed rather than public, so the mapping is resolved through OpenFIGI and built up over time. Around 95% of reported value currently sits on a resolved ticker; the rest shows its CUSIP.
The rest of the section is on the Markets overview — including insider transactions, which are the same idea at the individual level, and the correlation finder, where each ticker's page carries its institutional ownership.