Here’s Why Amazon.com (AMZN) Landed in Alger Spectra’s Top Detractor List
Alger, an investment management firm, published its “Alger Spectra Fund” first quarter 2021 investor letter – a copy of which can be downloaded here. During the first quarter of 2021, the largest portfolio sector weightings were Information Technology and Consumer Discretionary. Class A shares of the Alger Spectra Fund underperformed the Russell 3000 Growth Index during the first quarter of 2021. You can view the fund’s top 5 holdings to have a peek at their top bets for 2021.
Alger Spectra Fund, in their Q1 2021 investor letter, mentioned Jeffrey Bezos‘ Amazon.com, Inc. (NASDAQ: AMZN) and shared their insights on the company. Amazon.com, Inc. is a Bellevue, Washington-based e-commerce company that currently has a $1.7 trillion market capitalization. Since the beginning of the year, AMZN delivered a 3.53% return, extending its 12-month gains to 40.88%. As of April 19, 2021, the stock closed at $3,372.01 per share.