The following positions represented the noted percentages of Alger’s assets under management as of January 31, 2020: Fresh Direct, private; Instacart, private; Amazon.com, Inc., 7.2%; The Kroger Co., 0.0%; Costco Wholesale Corp., 0.1%; Sprouts Farmers Market, Inc., no holdings, Walmart Inc., 0.2%, Target Corporation, 0.0%; and Ocado Group plc, no holdings.
The views expressed are the views of Fred Alger Management, LLC (“FAM”) and Alger Management Ltd. (together with their affiliated entities “Alger”) as of March 2020. Alger has used sources of information which it believes to be reliable; however, this publication is not intended to be and does not constitute investment advice. These views are subject to change at any time and they do not guarantee the future performance of the markets, any security, or any funds managed by Alger.
Risk Disclosures: Investing in the stock market involves gains and losses and may not be suitable for all investors. Growth stocks tend to be more volatile than other stocks as the prices of growth stocks tend to be higher in relation to their companies’ earnings and may be more sensitive to market, political and economic developments. Many technology companies have limited operating histories and prices of these companies’ securities have historically been more volatile than other securities due to increased competition, government regulation, and risk of obsolescence due to the progress of technological developments. Please visit
www.alger.com for additional risk disclosures.
Past performance is not indicative of future performance. Investors whose reference currency differs from that in which the underlying assets are invested may be subject to exchange rate movements that alter the value of their investments.
BEN REYNOLDS, CFASenior Vice PresidentSenior Analyst
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