Western Digital stock position lifted by Fred Alger Management LLC

Institutional investor increases stake in data storage company by nearly 5,000%

Mar. 16, 2026 at 10:18am

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Fred Alger Management LLC significantly increased its stake in Western Digital Corporation, the data storage provider, by 4,923.9% during the third quarter. The firm now owns 3,407,042 shares of Western Digital, representing approximately 1% of the company's outstanding stock.

Why it matters

This large increase in institutional ownership signals growing confidence in Western Digital's business and future prospects. As a major shareholder, Fred Alger Management LLC's increased stake could influence the company's strategic direction and provide additional financial resources to support growth initiatives.

The details

According to a recent 13F filing, Fred Alger Management LLC added 3,339,225 shares of Western Digital to its portfolio during the third quarter. This substantial increase brought the firm's total ownership to 3,407,042 shares, valued at approximately $409 million as of the most recent filing. Western Digital is now the 14th largest holding in Fred Alger Management LLC's investment portfolio, accounting for around 1.6% of the firm's total assets under management.

  • The 13F filing reporting the increased stake was submitted in the third quarter of 2026.

The players

Fred Alger Management LLC

An investment management firm based in New York that oversees over $26 billion in assets.

Western Digital Corporation

A global data storage company that designs, manufactures, and sells hard disk drives (HDDs), solid-state drives (SSDs), and other storage solutions for personal, enterprise, and cloud computing applications.

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What they’re saying

“We must continue to identify and invest in companies that we believe have strong growth potential and are well-positioned to capitalize on emerging trends in the technology sector.”

— Daniel Chung, Chief Investment Officer, Fred Alger Management LLC (MarketBeat)

What’s next

Fred Alger Management LLC's increased stake in Western Digital is a positive signal for the company's future. Investors will be closely watching to see if the firm continues to add to its position and whether other institutional investors follow suit.

The takeaway

This significant increase in institutional ownership of Western Digital stock highlights the growing confidence in the company's ability to navigate the evolving data storage market and capitalize on emerging trends in enterprise and cloud computing. The move by Fred Alger Management LLC underscores the firm's belief in Western Digital's long-term growth potential.