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RegExp("[?&]notifications=1(&|#|$)");"desktop"===y&&i&&b.test(window.location.search)&&(i.checked=!0)};be("ybar-mod-notification",(function(e){var t={isUH3:"crunch"===e.getConfig().ytheme,notifContainer:document.getElementById("notification-container"),notifBadge:document.getElementById("notif-badge"),notifMenu:document.getElementById("ybarNotificationMenu"),notifMenuOpener:document.querySelector("#ybarNotificationMenu + label"),notifDropdown:document.getElementById("notifDropdownContainer"),tooltipContainer:document.querySelector(".".concat(Vn)),notifLabel:document.querySelector(".".concat($n))};t.notifDropdown&&ro(e,t)}))}()}};]]>Soumya EswaranWed, September 24, 2025 at 3:04 PM GMT+2 3 min readFred Alger Management, an investment management company, released its “Alger Weatherbie Specialized Growth Fund” second-quarter 2025 investor letter. A copy of the letter can be downloaded here. Initial volatility in April stemmed from increased trade policy uncertainty following President Trump's tariffs on April 2, which affected import-dependent companies. Stability returned on April 9 after a 90-day pause on new duties. Market sentiment improved in May following the White House’s suspension of reciprocal tariff hikes on China on May 12. In June, trade talks—featuring faster rare-earth shipments and delayed tariffs—helped the S&P 500 reach a record high, ending Q2 with a 10.94% gain.  Class A shares of the fund outperformed the Russell 2500 Growth Index during the second quarter of 2025. In addition, please check the fund’s top five holdings to know its best picks in 2025.In its second-quarter 2025 investor letter, Alger Weatherbie Specialized Growth Fund highlighted stocks such as Upstart Holdings, Inc. (NASDAQ:UPST). Upstart Holdings, Inc. (NASDAQ:UPST) is a US-based artificial intelligence (AI) lending platform. The one-month return of Upstart Holdings, Inc. (NASDAQ:UPST) was -10.37%, and its shares gained 57.72% of their value over the last 52 weeks. On September 23, 2025, Upstart Holdings, Inc. (NASDAQ:UPST) stock closed at $62.38 per share, with a market capitalization of $6.002 billion.Alger Weatherbie Specialized Growth Fund stated the following regarding Upstart Holdings, Inc. (NASDAQ:UPST) in its second quarter 2025 investor letter:"Upstart Holdings, Inc. (NASDAQ:UPST) provides a cloud-based lending platform that uses artificial intelligence to help banks and lenders make better lending decisions. The company primarily offers personal loans but has also expanded into auto loans and other types of lending. Shares contributed positively during the quarter after the company reported strong fiscal-first quarter operating results, where management noted their credit quality remained stable, and newer products continued to gain traction. Auto loans and home equity lines of credit (HELOCs) both grew significantly, becoming a more meaningful part of the overall business. These new lending products involve collateral (such as vehicles or homes), which typically means the company earns slightly less per loan, but benefits from larger loan amounts and fewer defaults. As a result, management slightly raised its full-year guidance but remained cautious on their quarterly earnings call given ongoing economic uncertainty."Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P Futures6,662.25 +2.50 (+0.04%)Dow Futures46,289.00 +21.00 (+0.05%)Nasdaq Futures24,628.50 -0.75 (-0.00%)Russell 2000 Futures2,431.20 +1.20 (+0.05%)VIX16.74 +0.56 (+3.46%)Gold3,778.70 +7.60 (+0.20%)PortfolioSign in to access your portfolioSign inTop gainersLEU Centrus Energy Corp. 312.19 +36.19 (+13.11%)PIII P3 Health Partners Inc. 10.19 +1.10 (+12.08%)BBU Brookfield Business Partners L.P. 31.75 +3.27 (+11.48%)QURE uniQure N.V. 52.65 +5.15 (+10.84%)OPEN Opendoor Technologies Inc. 9.09 +0.86 (+10.45%)Top losersKMX CarMax, Inc. 45.60 -11.45 (-20.07%)CIFR Cipher Mining Inc. 11.64 -2.53 (-17.86%)DGNX Diginex Limited 13.20 -2.55 (-16.19%)FORD Forward Industries, Inc. 28.82 -3.96 (-12.08%)ASTS AST SpaceMobile, Inc. 49.39 -5.11 (-9.38%)Most activeOPEN Opendoor Technologies Inc. 9.09 +0.86 (+10.45%)INTC Intel Corporation 33.99 +2.77 (+8.87%)SNAP Snap Inc. 8.33 +0.11 (+1.34%)RIG Transocean Ltd. 3.1600 -0.4800 (-13.19%)NVDA NVIDIA Corporation 177.69 +0.72 (+0.41%)Earnings eventsMy earnings eventsEarnings eventsTrending tickersCOST Costco Wholesale Corporation 943.31 -1.96 (-0.21%)ORCL Oracle Corporation 291.33 -17.13 (-5.55%)IBM International Business Machines Corporation 281.44 +13.91 (+5.20%)KMX CarMax, Inc. 45.60 -11.45 (-20.07%)BTC-USD Bitcoin USD 109,576.45 -3,570.53 (-3.16%)Top economic events