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During the first quarter of 2026, the largest Alger American Asset Growth Fund sector weightings were Information Technology and Consumer Discretionary, while the largest sector underweight was Financials.

The emergence of agentic artificial intelligence tools triggered a broad sell-off across the software industry as investors moved to reprice companies most exposed to AI disruption.

Western Digital Corporation's business has structurally shifted toward cloud customers as consumer exposure has declined, with cloud now representing the majority of the company's revenue.

Nebius Group reported positive adjusted earnings at the group level for the first time, reflecting strong pricing power and growing operating leverage within its core AI cloud business.

GE Vernova supported performance with a fiscal fourth-quarter earnings report that highlighted a tripling of Gas Power equipment orders and record bookings in the Electrification segment.

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