Alger Capital Appreciation Fund reported that QXO, Inc. detracted from its performance in the second quarter of 2026. The fund noted that softer conditions in the building products market weighed on near-term results for the roofing and waterproofing distributor, while sentiment was also pressured by financing and regulatory considerations tied to a large pending acquisition announced during the period. QXO shares lost 28.91% over the past 52 weeks and closed at $15.32 on July 15, 2026, with a market capitalization of $15.9 billion. The fund views QXO as an attractive way to participate in the consolidation of a large and fragmented distribution industry, led by entrepreneur Brad Jacobs.
QXO, Inc.Softer conditions in the building products market weighed on near-term results for the roofing and waterproofing distributor.