- You may have to pay more money to trade the ETF's shares. This ETF will provide less information to traders, who tend to charge more for trades when they have less information.
- The price you pay to buy ETF shares on an exchange may not match the value of the ETF's portfolio. The same is true when you sell shares. These price differences may be greater for this ETF compared to other ETFs because it provides less information to traders.
- These additional risks may be even greater in bad or uncertain market conditions.
Fund | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Alger 35 ETF | $31 | 0.55% |
U.S. FACTOR | IMPACT | SUMMARY |
Soft-landing Narrative | Positive | During the period, the soft-landing scenario—an economic slowdown without a recession—drove equity markets higher as U.S. GDP for the fourth quarter of 2023 grew 3.4%, exceeding the initial 2.0% consensus, driven by robust consumer spending. |
AI Enthusiasm | Positive | Continued anticipation about artificial intelligence drove strong gains for related companies, supported by robust operating results and upward earnings revisions. |
Elevated Inflation | Negative | Inflation concerns resurfaced during the first quarter of 2024, with Consumer Price Index (CPI) and Personal Consumption Expenditure Price Index (PCE) readings coming in higher-than-expected. |
Revised Federal Reserve Rate Cut Expectations | Negative | Elevated inflation readings during the first quarter of 2024 led to the Federal Reserve postponing an anticipated March rate cut. The revision of the market’s rate cut expectations, initially from a projected six cuts at the beginning of the period down to just one for the year, led to some market volatility in April. |
Average Annual Total Returns (As of June 30, 2024) | 1 Year | Since Inception (5/3/21) |
Alger 35 ETF | 36.91% | 2.14% |
S&P 500 Index | 24.56% | 10.44% |
Russell 3000 Growth Index | 32.22% | 11.47% |
Fund net assets | $19,498,948% |
Total number of portfolio holdings1 | $31% |
Portfolio turnover rate as of the end of the reporting period | $152.51% |
1 | Excludes Money Market Funds. |
Communication Services | 16.4% |
Consumer Discretionary | 14.0% |
Energy | 1.9% |
Healthcare | 9.0% |
Industrials | 4.9% |
Information Technology | 47.0% |
Materials | 2.0% |
Utilities | 2.0% |
Short-Term Investments and Other Net Assets | 2.8% |
100.0% |
† | Based on net assets of the Fund. |
- You may have to pay more money to trade the ETF's shares. This ETF will provide less information to traders, who tend to charge more for trades when they have less information.
- The price you pay to buy ETF shares on an exchange may not match the value of the ETF's portfolio. The same is true when you sell shares. These price differences may be greater for this ETF compared to other ETFs because it provides less information to traders.
- These additional risks may be even greater in bad or uncertain market conditions.
Fund | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Alger Mid Cap 40 ETF | $33 | 0.60% |
U.S. FACTOR | IMPACT | SUMMARY |
Soft-landing Narrative | Positive | During the period, the soft-landing scenario—an economic slowdown without a recession—drove equity markets higher as U.S. GDP for the fourth of 2023 quarter grew 3.4%, exceeding the initial 2.0% consensus, driven by robust consumer spending. |
AI Enthusiasm | Positive | Continued anticipation about artificial intelligence drove strong gains for related companies, supported by robust operating results and upward earnings revisions. |
Elevated Inflation | Negative | Inflation concerns resurfaced during the first quarter of 2024, with Consumer Price Index (CPI) and Personal Consumption Expenditure Price Index (PCE) readings coming in higher-than-expected. |
Revised Federal Reserve Rate Cut Expectations | Negative | Elevated inflation readings during the first quarter of 2024 led to the Federal Reserve postponing an anticipated March rate cut. The revision of the market’s rate cut expectations, initially from a projected six cuts at the beginning of the period down to just one for the year, led to some market volatility in April. |
Average Annual Total Returns (As of June 30, 2024) | 1 Year | Since Inception (2/26/21) |
Alger Mid Cap 40 ETF | 26.30% | (4.75)% |
Russell Midcap Growth Index | 15.05% | 2.53)% |
S&P 500 Index | 24.56% | 13.10)% |
Fund net assets | $37,002,601% |
Total number of portfolio holdings1 | $40% |
Portfolio turnover rate as of the end of the reporting period | $91.35% |
1 | Excludes Money Market Funds. |
Communication Services | 8.1% |
Consumer Discretionary | 10.4% |
Consumer Staples | 1.6% |
Energy | 2.5% |
Financials | 2.1% |
Healthcare | 12.2% |
Industrials | 23.8% |
Information Technology | 26.2% |
Utilities | 2.8% |
Short-Term Investments and Other Net Assets | 10.3% |
100.0% |
† | Based on net assets of the Fund. |
- You may have to pay more money to trade the ETF's shares. This ETF will provide less information to traders, who tend to charge more for trades when they have less information.
- The price you pay to buy ETF shares on an exchange may not match the value of the ETF's portfolio. The same is true when you sell shares. These price differences may be greater for this ETF compared to other ETFs because it provides less information to traders.
- These additional risks may be even greater in bad or uncertain market conditions.
Fund | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Alger Weatherbie Enduring Growth ETF | $34 | 0.65% |
U.S. FACTOR | IMPACT | SUMMARY |
Soft-landing Narrative | Positive | During the period, the soft-landing scenario—an economic slowdown without a recession—drove equity markets higher as U.S. GDP for the fourth quarter grew 3.4%, exceeding the initial 2.0% consensus, driven by robust consumer spending. |
AI Enthusiasm | Positive | Continued anticipation about artificial intelligence drove strong gains for related companies, supported by robust operating results and upward earnings revisions. |
Elevated Inflation | Negative | Inflation concerns resurfaced during the first quarter of 2024, with Consumer Price Index (CPI) and Personal Consumption Expenditure Price Index (PCE) readings coming in higher-than-expected. |
Revised Federal Reserve Rate Cut Expectations | Negative | Elevated inflation readings during the first quarter of 2024 led to the Federal Reserve postponing an anticipated March rate cut. The revision of the market’s rate cut expectations, initially from a projected six cuts at the beginning of the period down to just one for the year, led to some market volatility in April. |
Average Annual Total Returns (As of June 30, 2024) | 1 Year | Since Inception (3/6/23) |
Alger Weatherbie Enduring Growth ETF | 12.89% | 13.92% |
Russell Midcap Growth Index | 15.05% | 15.92% |
S&P 500 Index | 24.56% | 27.45% |
Fund net assets | $4,714,365% |
Total number of portfolio holdings1 | $25% |
Portfolio turnover rate as of the end of the reporting period | $22.44% |
1 | Excludes Money Market Funds. |
Communication Services | 1.4% |
Consumer Discretionary | 3.3% |
Financials | 4.8% |
Healthcare | 16.6% |
Industrials | 44.4% |
Information Technology | 16.3% |
Real Estate | 6.7% |
Short-Term Investments and Other Net Assets | 6.5% |
100.0% |
† | Based on net assets of the Fund. |
Fund | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Alger Concentrated Equity ETF | $141 | 0.55% |
1 | The Fund commenced investment operations on April 4, 2024. Had the Fund been in operation for a complete fiscal year, the cost of a $10,000 investment would have been higher. |
U.S. FACTOR | IMPACT | SUMMARY |
AI Enthusiasm | Positive | Continued anticipation about artificial intelligence drove strong gains for related companies, supported by robust operating results and upward earnings revisions. |
Revised Federal Reserve Rate Cut Expectations | Negative | Elevated inflation readings during the first quarter of 2024 led to the Federal Reserve postponing an anticipated March rate cut. The revision of the market’s rate cut expectations, initially from a projected six cuts at the beginning of the period down to just one for the year, led to some market volatility in April. |
Average Annual Total Returns (As of June 30, 2024) | Since Inception (4/4/24) |
Alger Concentrated Equity ETF | 11.65% |
Russell 1000 Growth Index | 10.63% |
S&P 500 Index | 6.43% |
Fund net assets | $5,235,743% |
Total number of portfolio holdings1 | $30% |
Portfolio turnover rate as of the end of the reporting period | $17.31% |
1 | Excludes Money Market Funds. |
Communication Services | 13.0% |
Consumer Discretionary | 11.1% |
Energy | 1.0% |
Financials | 4.1% |
Healthcare | 8.0% |
Industrials | 9.1% |
Information Technology | 49.2% |
Utilities | 1.4% |
Short-Term Investments and Other Net Assets | 3.1% |
100.0% |
† | Based on net assets of the Fund. |
Fund | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
Alger AI Enablers & Adopters ETF | $141 | 0.55% |
1 | The Fund commenced investment operations on April 4, 2024. Had the Fund been in operation for a complete fiscal year, the cost of a $10,000 investment would have been higher. |
U.S. FACTOR | IMPACT | SUMMARY |
AI Enthusiasm | Positive | Continued anticipation about artificial intelligence drove strong gains for related companies, supported by robust operating results and upward earnings revisions. |
Revised Federal Reserve Rate Cut Expectations | Negative | Elevated inflation readings during the first quarter of 2024 led to the Federal Reserve postponing an anticipated March rate cut. The revision of the market’s rate cut expectations, initially from a projected six cuts at the beginning of the period down to just one for the year, led to some market volatility in April. |
Average Annual Total Returns (As of June 30, 2024) | Since Inception (4/4/24) |
Alger AI Enablers & Adopters ETF | 11.76% |
S&P 500 Index | 6.43% |
Fund net assets | $7,166,844% |
Total number of portfolio holdings1 | $46% |
Portfolio turnover rate as of the end of the reporting period | $28.28% |
1 | Excludes Money Market Funds. |
Communication Services | 15.9% |
Consumer Discretionary | 13.5% |
Consumer Staples | 0.5% |
Financials | 3.6% |
Healthcare | 4.3% |
Industrials | 2.1% |
Information Technology | 52.3% |
Real Estate | 1.9% |
Utilities | 2.8% |
Short-Term Investments and Other Net Assets | 3.1% |
100.0% |
† | Based on net assets of the Fund. |
(b) | Include a copy of each notice transmitted to stockholders in reliance on Rule 30e-3 under the Act (17 CFR 270.30e-3) that contains disclosures specified by paragraph (c)(3) of that rule. |
Not applicable.
ITEM 2. CODE OF ETHICS.
Not applicable to this semi-annual report.
ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.
Not applicable to this semi-annual report.
ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.
Not applicable to this semi-annual report.
ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS.
Not applicable to this semi-annual report.
ITEM 6. INVESTMENTS.
(a) A Schedule of Investments in securities of unaffiliated issuers as of the close of the Reporting Period is included as part of the report to shareholders filed under Item 7 of this Form N-CSR.
(b) Not applicable.
ITEM 7. FINANCIAL STATEMENTS AND FINANCIAL HIGHLIGHTS FOR OPEN_END MANAGEMENT INVESTMENT COMPANIES.
Alger 35 ETF |
Alger Mid Cap 40 ETF |
Alger Weatherbie Enduring Growth ETF |
Alger Concentrated Equity ETF |
Alger AI Enablers & Adopters ETF |
SHARES | VALUE | |||
COMMON STOCKS—97.2% | ||||
AEROSPACE & DEFENSE—2.2% | ||||
HEICO Corp., Cl. A | 2,434 | $ 432,084 | ||
APPLICATION SOFTWARE—3.4% | ||||
AppFolio, Inc., Cl. A* | 1,112 | 271,962 | ||
AppLovin Corp., Cl. A* | 4,654 | 387,306 | ||
659,268 | ||||
BIOTECHNOLOGY—3.1% | ||||
Natera, Inc.* | 5,502 | 595,812 | ||
BROADLINE RETAIL—10.6% | ||||
Amazon.com, Inc.* | 8,764 | 1,693,643 | ||
MercadoLibre, Inc.* | 227 | 373,052 | ||
2,066,695 | ||||
COAL & CONSUMABLE FUELS—1.9% | ||||
Cameco Corp. | 7,674 | 377,561 | ||
ELECTRIC UTILITIES—2.0% | ||||
Constellation Energy Corp. | 1,976 | 395,733 | ||
ELECTRICAL COMPONENTS & EQUIPMENT—1.3% | ||||
Vertiv Holdings Co., Cl. A | 2,854 | 247,071 | ||
ELECTRONIC EQUIPMENT & INSTRUMENTS—1.5% | ||||
908 Devices, Inc.* | 58,342 | 300,461 | ||
FOOTWEAR—2.0% | ||||
Deckers Outdoor Corp.* | 203 | 196,494 | ||
On Holding AG, Cl. A* | 5,042 | 195,629 | ||
392,123 | ||||
HEALTHCARE EQUIPMENT—2.5% | ||||
Intuitive Surgical, Inc.* | 1,083 | 481,772 | ||
HOTELS RESORTS & CRUISE LINES—1.4% | ||||
Trip.com Group Ltd. ADR* | 5,998 | 281,906 | ||
INTERACTIVE MEDIA & SERVICES—8.9% | ||||
Alphabet, Inc., Cl. A | 2,285 | 416,213 | ||
Meta Platforms, Inc., Cl. A | 1,839 | 927,261 | ||
Pinterest, Inc., Cl. A* | 8,835 | 389,358 | ||
1,732,832 | ||||
MOVIES & ENTERTAINMENT—7.5% | ||||
Netflix, Inc.* | 1,418 | 956,980 | ||
Spotify Technology SA* | 1,603 | 503,005 | ||
1,459,985 | ||||
PASSENGER GROUND TRANSPORTATION—1.4% | ||||
Uber Technologies, Inc.* | 3,832 | 278,510 | ||
PHARMACEUTICALS—3.5% | ||||
Eli Lilly & Co. | 748 | 677,224 |
SHARES | VALUE | |||
COMMON STOCKS—97.2% (CONT.) | ||||
SEMICONDUCTOR MATERIALS & EQUIPMENT—2.8% | ||||
ASML Holding NV | 538 | $ 550,229 | ||
SEMICONDUCTORS—20.0% | ||||
Astera Labs, Inc.* | 4,044 | 244,703 | ||
Broadcom, Inc. | 221 | 354,822 | ||
Micron Technology, Inc. | 3,745 | 492,580 | ||
NVIDIA Corp. | 17,956 | 2,218,284 | ||
Taiwan Semiconductor Manufacturing Co., Ltd. ADR | 3,393 | 589,737 | ||
3,900,126 | ||||
SPECIALTY CHEMICALS—2.0% | ||||
Ecolab, Inc. | 1,622 | 386,036 | ||
SYSTEMS SOFTWARE—10.7% | ||||
Crowdstrike Holdings, Inc., Cl. A* | 894 | 342,572 | ||
Microsoft Corp. | 3,908 | 1,746,680 | ||
2,089,252 | ||||
TECHNOLOGY HARDWARE STORAGE & PERIPHERALS—8.5% | ||||
Apple, Inc. | 7,885 | 1,660,739 | ||
TOTAL COMMON STOCKS (Cost $14,413,687) | 18,965,419 | |||
SHORT-TERM SECURITIES—2.8% | ||||
MONEY MARKET FUNDS—2.8% | ||||
Dreyfus Treasury Obligations Cash Management Fund, Institutional Shares, 5.18%(a) | 540,804 | 540,804 | ||
(Cost $540,804) | 540,804 | |||
Total Investments (Cost $14,954,491) | 100.0% | $19,506,223 | ||
Unaffiliated Securities (Cost $14,954,491) | 19,506,223 | |||
Liabilities in Excess of Other Assets | (0.0)% | (7,275) | ||
NET ASSETS | 100.0% | $19,498,948 |
ADR | American Depositary Receipts |
(a) | Rate shown reflects 7-day effective yield as of June 30, 2024. |
* | Non-income producing security. |
SHARES | VALUE | |||
COMMON STOCKS—89.7% | ||||
AEROSPACE & DEFENSE—7.7% | ||||
HEICO Corp., Cl. A | 9,818 | $ 1,742,891 | ||
TransDigm Group, Inc. | 883 | 1,128,130 | ||
2,871,021 | ||||
APPAREL RETAIL—2.3% | ||||
Burlington Stores, Inc.* | 3,550 | 852,000 | ||
APPLICATION SOFTWARE—15.6% | ||||
AppFolio, Inc., Cl. A* | 3,957 | 967,763 | ||
AppLovin Corp., Cl. A* | 11,911 | 991,233 | ||
Datadog, Inc., Cl. A* | 4,875 | 632,239 | ||
HubSpot, Inc.* | 513 | 302,562 | ||
Manhattan Associates, Inc.* | 5,389 | 1,329,359 | ||
nCino, Inc.* | 13,510 | 424,890 | ||
Palantir Technologies, Inc., Cl. A* | 18,788 | 475,900 | ||
PTC, Inc.* | 3,516 | 638,752 | ||
5,762,698 | ||||
BIOTECHNOLOGY—8.9% | ||||
Natera, Inc.* | 14,819 | 1,604,749 | ||
Sarepta Therapeutics, Inc.* | 4,968 | 784,944 | ||
Vaxcyte, Inc.* | 11,902 | 898,720 | ||
3,288,413 | ||||
BROADLINE RETAIL—1.5% | ||||
MercadoLibre, Inc.* | 332 | 545,609 | ||
BUILDING PRODUCTS—0.9% | ||||
The AZEK Co., Inc., Cl. A* | 8,043 | 338,851 | ||
CARGO GROUND TRANSPORTATION—1.5% | ||||
Saia, Inc.* | 1,162 | 551,125 | ||
CASINOS & GAMING—2.7% | ||||
DraftKings, Inc., Cl. A* | 26,000 | 992,420 | ||
CONSTRUCTION & ENGINEERING—1.8% | ||||
Comfort Systems USA, Inc. | 2,248 | 683,662 | ||
DIVERSIFIED FINANCIAL SERVICES—2.1% | ||||
Apollo Global Management, Inc. | 6,455 | 762,142 | ||
ELECTRIC UTILITIES—2.8% | ||||
Constellation Energy Corp. | 5,153 | 1,031,991 | ||
ELECTRICAL COMPONENTS & EQUIPMENT—6.6% | ||||
Regal Rexnord Corp. | 2,591 | 350,355 | ||
Vertiv Holdings Co., Cl. A | 24,017 | 2,079,152 | ||
2,429,507 | ||||
ENVIRONMENTAL & FACILITIES SERVICES—1.6% | ||||
Veralto Corp. | 6,174 | 589,432 |
SHARES | VALUE | |||
COMMON STOCKS—89.7% (CONT.) | ||||
FOOTWEAR—1.3% | ||||
On Holding AG, Cl. A* | 12,462 | $ 483,526 | ||
HEALTHCARE EQUIPMENT—1.8% | ||||
Insulet Corp.* | 3,266 | 659,079 | ||
HEAVY ELECTRICAL EQUIPMENT—1.2% | ||||
GE Vernova, Inc.* | 2,676 | 458,961 | ||
INDUSTRIAL MACHINERY & SUPPLIES & COMPONENTS—2.4% | ||||
Gates Industrial Corp. PLC* | 56,959 | 900,522 | ||
INTERACTIVE HOME ENTERTAINMENT—1.1% | ||||
Roblox Corp., Cl. A* | 11,013 | 409,794 | ||
LIFE SCIENCES TOOLS & SERVICES—1.5% | ||||
Bio-Techne Corp. | 7,802 | 559,013 | ||
MOVIES & ENTERTAINMENT—7.0% | ||||
Liberty Media Corp. Series C Liberty Formula One * | 22,227 | 1,596,788 | ||
Spotify Technology SA* | 3,208 | 1,006,638 | ||
2,603,426 | ||||
OIL & GAS EXPLORATION & PRODUCTION—2.5% | ||||
Diamondback Energy, Inc. | 4,638 | 928,481 | ||
PERSONAL CARE PRODUCTS—1.6% | ||||
e.l.f. Beauty, Inc.* | 2,810 | 592,123 | ||
RESTAURANTS—2.6% | ||||
Shake Shack, Inc., Cl. A* | 10,866 | 977,940 | ||
SEMICONDUCTORS—4.8% | ||||
Micron Technology, Inc. | 8,602 | 1,131,421 | ||
Monolithic Power Systems, Inc. | 771 | 633,515 | ||
1,764,936 | ||||
SYSTEMS SOFTWARE—2.3% | ||||
Crowdstrike Holdings, Inc., Cl. A* | 2,185 | 837,270 | ||
TECHNOLOGY HARDWARE STORAGE & PERIPHERALS—3.6% | ||||
Dell Technologies, Inc., Cl. C | 2,507 | 345,740 | ||
Pure Storage, Inc., Cl. A* | 15,190 | 975,350 | ||
1,321,090 | ||||
TOTAL COMMON STOCKS (Cost $25,687,497) | 33,195,032 |
SHARES | VALUE | |||
SHORT-TERM SECURITIES—10.3% | ||||
MONEY MARKET FUNDS—10.3% | ||||
Dreyfus Treasury Obligations Cash Management Fund, Institutional Shares, 5.18%(a) | 3,801,547 | $ 3,801,547 | ||
(Cost $3,801,547) | 3,801,547 | |||
Total Investments (Cost $29,489,044) | 100.0% | $36,996,579 | ||
Unaffiliated Securities (Cost $29,489,044) | 36,996,579 | |||
Other Assets in Excess of Liabilities | 0.0% | 6,022 | ||
NET ASSETS | 100.0% | $37,002,601 |
(a) | Rate shown reflects 7-day effective yield as of June 30, 2024. |
* | Non-income producing security. |
SHARES | VALUE | |||
COMMON STOCKS—93.5% | ||||
ADVERTISING—1.4% | ||||
The Trade Desk, Inc., Cl. A* | 684 | $ 66,806 | ||
AEROSPACE & DEFENSE—16.6% | ||||
HEICO Corp. | 921 | 205,945 | ||
Loar Holdings, Inc.* | 496 | 26,491 | ||
TransDigm Group, Inc. | 432 | 551,928 | ||
784,364 | ||||
APPLICATION SOFTWARE—15.3% | ||||
Agilysys, Inc.* | 981 | 102,161 | ||
HubSpot, Inc.* | 269 | 158,654 | ||
nCino, Inc.* | 3,540 | 111,333 | ||
SPS Commerce, Inc.* | 838 | 157,678 | ||
Vertex, Inc., Cl. A* | 5,248 | 189,190 | ||
719,016 | ||||
ASSET MANAGEMENT & CUSTODY BANKS—4.8% | ||||
StepStone Group, Inc., Cl. A | 4,971 | 228,119 | ||
BIOTECHNOLOGY—3.1% | ||||
ACADIA Pharmaceuticals, Inc.* | 8,876 | 144,235 | ||
BROADLINE RETAIL—3.3% | ||||
Ollie's Bargain Outlet Holdings, Inc.* | 1,598 | 156,876 | ||
CARGO GROUND TRANSPORTATION—6.1% | ||||
RXO, Inc.* | 5,163 | 135,012 | ||
XPO, Inc.* | 1,440 | 152,856 | ||
287,868 | ||||
ENVIRONMENTAL & FACILITIES SERVICES—15.8% | ||||
Casella Waste Systems, Inc., Cl. A* | 3,596 | 356,795 | ||
Montrose Environmental Group, Inc.* | 3,544 | 157,921 | ||
Waste Connections, Inc. | 1,307 | 229,195 | ||
743,911 | ||||
HEALTHCARE EQUIPMENT—9.0% | ||||
Glaukos Corp.* | 2,521 | 298,360 | ||
Tandem Diabetes Care, Inc.* | 3,186 | 128,364 | ||
426,724 | ||||
HEALTHCARE SUPPLIES—1.7% | ||||
Neogen Corp.* | 5,142 | 80,370 | ||
HUMAN RESOURCE & EMPLOYMENT SERVICES—3.4% | ||||
Paylocity Holding Corp.* | 1,233 | 162,571 | ||
MANAGED HEALTHCARE—2.8% | ||||
Progyny, Inc.* | 4,583 | 131,120 | ||
REAL ESTATE SERVICES—6.7% | ||||
FirstService Corp. | 2,062 | 314,187 |
SHARES | VALUE | |||
COMMON STOCKS—93.5% (CONT.) | ||||
SEMICONDUCTORS—1.1% | ||||
Impinj, Inc.* | 320 | $ 50,166 | ||
TRADING COMPANIES & DISTRIBUTORS—2.4% | ||||
SiteOne Landscape Supply, Inc.* | 926 | 112,426 | ||
TOTAL COMMON STOCKS (Cost $3,435,988) | 4,408,759 | |||
SHORT-TERM SECURITIES—7.3% | ||||
MONEY MARKET FUNDS—7.3% | ||||
Dreyfus Treasury Obligations Cash Management Fund, Institutional Shares, 5.18%(a) | 341,615 | 341,615 | ||
(Cost $341,615) | 341,615 | |||
Total Investments (Cost $3,777,603) | 100.8% | $4,750,374 | ||
Unaffiliated Securities (Cost $3,777,603) | 4,750,374 | |||
Liabilities in Excess of Other Assets | (0.8)% | (36,009) | ||
NET ASSETS | 100.0% | $4,714,365 |
(a) | Rate shown reflects 7-day effective yield as of June 30, 2024. |
* | Non-income producing security. |
SHARES | VALUE | |||
COMMON STOCKS—96.9% | ||||
AEROSPACE & DEFENSE—3.4% | ||||
HEICO Corp., Cl. A | 1,010 | $ 179,295 | ||
APPLICATION SOFTWARE—5.3% | ||||
AppLovin Corp., Cl. A* | 1,635 | 136,065 | ||
Cadence Design Systems, Inc.* | 321 | 98,788 | ||
HubSpot, Inc.* | 70 | 41,285 | ||
276,138 | ||||
AUTOMOBILE MANUFACTURERS—1.0% | ||||
Ferrari NV | 127 | 51,863 | ||
BIOTECHNOLOGY—1.7% | ||||
Natera, Inc.* | 837 | 90,639 | ||
BROADLINE RETAIL—10.1% | ||||
Amazon.com, Inc.* | 2,383 | 460,515 | ||
MercadoLibre, Inc.* | 42 | 69,023 | ||
529,538 | ||||
COAL & CONSUMABLE FUELS—1.0% | ||||
Cameco Corp. | 1,052 | 51,758 | ||
CONSTRUCTION & ENGINEERING—1.5% | ||||
Quanta Services, Inc. | 306 | 77,752 | ||
ELECTRIC UTILITIES—1.4% | ||||
Constellation Energy Corp. | 368 | 73,699 | ||
ELECTRICAL COMPONENTS & EQUIPMENT—1.6% | ||||
Vertiv Holdings Co., Cl. A | 986 | 85,358 | ||
ENVIRONMENTAL & FACILITIES SERVICES—2.6% | ||||
GFL Environmental, Inc. | 3,459 | 134,659 | ||
FINANCIAL EXCHANGES & DATA—2.0% | ||||
S&P Global, Inc. | 237 | 105,702 | ||
HEALTHCARE EQUIPMENT—2.0% | ||||
Intuitive Surgical, Inc.* | 237 | 105,429 | ||
INTERACTIVE MEDIA & SERVICES—9.3% | ||||
Alphabet, Inc., Cl. C | 669 | 122,708 | ||
Meta Platforms, Inc., Cl. A | 599 | 302,028 | ||
Pinterest, Inc., Cl. A* | 1,460 | 64,342 | ||
489,078 | ||||
LIFE SCIENCES TOOLS & SERVICES—2.1% | ||||
Danaher Corp. | 432 | 107,935 | ||
MOVIES & ENTERTAINMENT—3.7% | ||||
Liberty Media Corp. Series C Liberty Formula One * | 1,324 | 95,116 | ||
Netflix, Inc.* | 146 | 98,533 | ||
193,649 |
SHARES | VALUE | |||
COMMON STOCKS—96.9% (CONT.) | ||||
PHARMACEUTICALS—2.2% | ||||
Eli Lilly & Co. | 124 | $ 112,267 | ||
SEMICONDUCTOR MATERIALS & EQUIPMENT—1.5% | ||||
ASML Holding NV | 79 | 80,796 | ||
SEMICONDUCTORS—20.8% | ||||
Broadcom, Inc. | 54 | 86,698 | ||
Micron Technology, Inc. | 951 | 125,085 | ||
NVIDIA Corp. | 5,585 | 689,971 | ||
Taiwan Semiconductor Manufacturing Co., Ltd. ADR | 1,069 | 185,803 | ||
1,087,557 | ||||
SYSTEMS SOFTWARE—14.3% | ||||
Microsoft Corp. | 1,680 | 750,876 | ||
TECHNOLOGY HARDWARE STORAGE & PERIPHERALS—7.3% | ||||
Apple, Inc. | 1,811 | 381,433 | ||
TRANSACTION & PAYMENT PROCESSING SERVICES—2.1% | ||||
Visa, Inc., Cl. A | 416 | 109,187 | ||
TOTAL COMMON STOCKS (Cost $4,553,207) | 5,074,608 | |||
SHORT-TERM SECURITIES—2.2% | ||||
MONEY MARKET FUNDS—2.2% | ||||
Dreyfus Treasury Obligations Cash Management Fund, Institutional Shares, 5.18%(a) | 114,716 | 114,716 | ||
(Cost $114,716) | 114,716 | |||
Total Investments (Cost $4,667,923) | 99.1% | $5,189,324 | ||
Unaffiliated Securities (Cost $4,667,923) | 5,189,324 | |||
Other Assets in Excess of Liabilities | 0.9% | 46,419 | ||
NET ASSETS | 100.0% | $5,235,743 |
ADR | American Depositary Receipts |
(a) | Rate shown reflects 7-day effective yield as of June 30, 2024. |
* | Non-income producing security. |
SHARES | VALUE | |||
COMMON STOCKS—95.9% | ||||
ADVERTISING—0.9% | ||||
The Trade Desk, Inc., Cl. A* | 655 | $ 63,974 | ||
APPLICATION SOFTWARE—7.0% | ||||
Adobe, Inc.* | 228 | 126,663 | ||
AppLovin Corp., Cl. A* | 3,232 | 268,967 | ||
Cadence Design Systems, Inc.* | 227 | 69,859 | ||
HubSpot, Inc.* | 64 | 37,747 | ||
503,236 | ||||
AUTOMOBILE MANUFACTURERS—0.4% | ||||
Tesla, Inc.* | 136 | 26,912 | ||
AUTOMOTIVE PARTS & EQUIPMENT—0.1% | ||||
Mobileye Global, Inc., Cl. A* | 185 | 5,196 | ||
BIOTECHNOLOGY—1.8% | ||||
Natera, Inc.* | 1,197 | 129,623 | ||
BROADLINE RETAIL—11.7% | ||||
Amazon.com, Inc.* | 3,784 | 731,258 | ||
MercadoLibre, Inc.* | 64 | 105,178 | ||
836,436 | ||||
CASINOS & GAMING—0.9% | ||||
DraftKings, Inc., Cl. A* | 1,785 | 68,133 | ||
COMPUTER & ELECTRONICS RETAIL—0.4% | ||||
Best Buy Co., Inc. | 343 | 28,911 | ||
CONSTRUCTION & ENGINEERING—0.3% | ||||
Quanta Services, Inc. | 86 | 21,852 | ||
CONSUMER STAPLES MERCHANDISE RETAIL—0.5% | ||||
Walmart, Inc. | 562 | 38,053 | ||
DATA CENTER—0.9% | ||||
Digital Realty Trust, Inc. | 405 | 61,580 | ||
DIVERSIFIED BANKS—1.2% | ||||
Citigroup, Inc. | 974 | 61,810 | ||
JPMorgan Chase & Co. | 112 | 22,653 | ||
84,463 | ||||
ELECTRIC UTILITIES—2.8% | ||||
Constellation Energy Corp. | 515 | 103,139 | ||
NextEra Energy, Inc. | 491 | 34,768 | ||
NRG Energy, Inc. | 798 | 62,132 | ||
200,039 | ||||
ELECTRICAL COMPONENTS & EQUIPMENT—1.4% | ||||
Vertiv Holdings Co., Cl. A | 1,184 | 102,499 | ||
FINANCIAL EXCHANGES & DATA—2.4% | ||||
S&P Global, Inc. | 387 | 172,602 |
SHARES | VALUE | |||
COMMON STOCKS—95.9% (CONT.) | ||||
HEALTHCARE EQUIPMENT—1.9% | ||||
Edwards Lifesciences Corp.* | 235 | $ 21,707 | ||
GE HealthCare Technologies, Inc. | 213 | 16,597 | ||
Intuitive Surgical, Inc.* | 213 | 94,753 | ||
133,057 | ||||
INTERACTIVE MEDIA & SERVICES—11.8% | ||||
Alphabet, Inc., Cl. C | 1,336 | 245,049 | ||
Meta Platforms, Inc., Cl. A | 906 | 456,824 | ||
Pinterest, Inc., Cl. A* | 3,288 | 144,902 | ||
846,775 | ||||
INTERNET SERVICES & INFRASTRUCTURE—0.5% | ||||
Shopify, Inc., Cl. A* | 494 | 32,629 | ||
MANAGED HEALTHCARE—0.6% | ||||
UnitedHealth Group, Inc. | 89 | 45,324 | ||
MOVIES & ENTERTAINMENT—3.2% | ||||
Netflix, Inc.* | 271 | 182,893 | ||
Spotify Technology SA* | 157 | 49,265 | ||
232,158 | ||||
PASSENGER GROUND TRANSPORTATION—0.4% | ||||
Uber Technologies, Inc.* | 371 | 26,964 | ||
SEMICONDUCTOR MATERIALS & EQUIPMENT—1.3% | ||||
Applied Materials, Inc. | 101 | 23,835 | ||
ASML Holding NV | 70 | 71,591 | ||
95,426 | ||||
SEMICONDUCTORS—20.8% | ||||
Advanced Micro Devices, Inc.* | 469 | 76,076 | ||
Broadcom, Inc. | 182 | 292,206 | ||
Marvell Technology, Inc. | 1,259 | 88,004 | ||
Micron Technology, Inc. | 686 | 90,230 | ||
NVIDIA Corp. | 6,452 | 797,080 | ||
Taiwan Semiconductor Manufacturing Co., Ltd. ADR | 850 | 147,739 | ||
1,491,335 | ||||
SYSTEMS SOFTWARE—14.9% | ||||
Microsoft Corp. | 2,199 | 982,843 | ||
ServiceNow, Inc.* | 105 | 82,600 | ||
1,065,443 | ||||
TECHNOLOGY HARDWARE STORAGE & PERIPHERALS—7.8% | ||||
Apple, Inc. | 2,495 | 525,497 |
SHARES | VALUE | |||
COMMON STOCKS—95.9% (CONT.) | ||||
TECHNOLOGY HARDWARE STORAGE & PERIPHERALS—7.8% (CONT.) | ||||
Dell Technologies, Inc., Cl. C | 238 | $ 32,822 | ||
558,319 | ||||
TOTAL COMMON STOCKS (Cost $6,337,301) | 6,870,939 | |||
REAL ESTATE INVESTMENT TRUST—1.0% | ||||
DATA CENTER—1.0% | ||||
Equinix, Inc. | 98 | 74,147 | ||
(Cost $75,597) | 74,147 | |||
SHORT-TERM SECURITIES—4.4% | ||||
MONEY MARKET FUNDS—4.4% | ||||
Dreyfus Treasury Obligations Cash Management Fund, Institutional Shares, 5.18%(a) | 317,825 | 317,825 | ||
(Cost $317,825) | 317,825 | |||
Total Investments (Cost $6,730,723) | 101.3% | $7,262,911 | ||
Unaffiliated Securities (Cost $6,730,723) | 7,262,911 | |||
Liabilities in Excess of Other Assets | (1.3)% | (96,067) | ||
NET ASSETS | 100.0% | $7,166,844 |
ADR | American Depositary Receipts |
(a) | Rate shown reflects 7-day effective yield as of June 30, 2024. |
* | Non-income producing security. |
Alger 35 ETF | Alger Mid Cap 40 ETF | |
ASSETS: | ||
Investments in unaffiliated securities, at value (Identified cost below)* see accompanying schedules of investments | $19,506,223 | $36,996,579 |
Cash and cash equivalents | 27 | — |
Receivable for investment securities sold | — | — |
Dividends and interest receivable | 4,475 | 18,591 |
Receivable from Investment Manager | 8,632 | 8,899 |
Prepaid expenses | 37,532 | 38,955 |
Total Assets | 19,556,889 | 37,063,024 |
LIABILITIES: | ||
Accrued fund accounting fees | 22,718 | 31,637 |
Accrued professional fees | 17,483 | 3,394 |
Accrued transfer agent fees | 10,251 | 10,045 |
Accrued investment advisory fees | 7,179 | 14,662 |
Accrued trustee fees | 310 | 627 |
Bank overdraft | — | 58 |
Accrued printing fees | — | — |
Accrued custodian fees | — | — |
Accrued other expenses | — | — |
Total Liabilities | 57,941 | 60,423 |
NET ASSETS | $19,498,948 | $37,002,601 |
NET ASSETS CONSIST OF: | ||
Paid in capital (par value of $.001 per share) | 17,813,440 | 47,345,539 |
Distributable earnings | 1,685,508 | (10,342,938 ) |
NET ASSETS | $19,498,948 | $37,002,601 |
* Identified cost | $14,954,491 (a) | $29,489,044 (b) |
Alger 35 ETF | Alger Mid Cap 40 ETF | |
SHARES OF BENEFICIAL INTEREST OUTSTANDING — Note 6: | $912,500 | $2,300,000 |
NET ASSET VALUE PER SHARE: | $21.37 | $16.09 |
(a) | At June 30, 2024, the net unrealized appreciation on investments, based on cost for federal income tax purposes of $15,047,634, amounted to $4,458,589, which consisted of aggregate gross unrealized appreciation of $4,663,971, and aggregate gross unrealized depreciation of $205,382. |
(b) | At June 30, 2024, the net unrealized appreciation on investments, based on cost for federal income tax purposes of $29,489,044, amounted to $7,507,535, which consisted of aggregate gross unrealized appreciation of $7,905,112, and aggregate gross unrealized depreciation of $397,577. |
Alger Weatherbie Enduring Growth ETF | Alger Concentrated Equity ETF | |
ASSETS: | ||
Investments in unaffiliated securities, at value (Identified cost below)* see accompanying schedules of investments | $4,750,374 | $5,189,324 |
Cash and cash equivalents | — | — |
Receivable for investment securities sold | — | 61,651 |
Dividends and interest receivable | 1,768 | 1,055 |
Receivable from Investment Manager | 9,418 | 11,469 |
Prepaid expenses | 15,139 | 7,404 |
Total Assets | 4,776,699 | 5,270,903 |
LIABILITIES: | ||
Accrued fund accounting fees | 22,443 | 17,318 |
Accrued professional fees | 25,215 | 8,979 |
Accrued transfer agent fees | 10,871 | 251 |
Accrued investment advisory fees | 2,103 | 1,912 |
Accrued trustee fees | 319 | 616 |
Bank overdraft | 51 | — |
Accrued printing fees | 763 | 4,162 |
Accrued custodian fees | — | 1,273 |
Accrued other expenses | 569 | 649 |
Total Liabilities | 62,334 | 35,160 |
NET ASSETS | $4,714,365 | $5,235,743 |
NET ASSETS CONSIST OF: | ||
Paid in capital (par value of $.001 per share) | 3,821,625 | 4,736,289 |
Distributable earnings | 892,740 | 499,454 |
NET ASSETS | $4,714,365 | $5,235,743 |
* Identified cost | $3,777,603 (c) | $4,667,923 (d) |
Alger Weatherbie Enduring Growth ETF | Alger Concentrated Equity ETF | |
SHARES OF BENEFICIAL INTEREST OUTSTANDING — Note 6: | $200,000 | $237,500 |
NET ASSET VALUE PER SHARE: | $23.57 | $22.05 |
(c) | At June 30, 2024, the net unrealized appreciation on investments, based on cost for federal income tax purposes of $3,777,641, amounted to $972,733, which consisted of aggregate gross unrealized appreciation of $1,134,434, and aggregate gross unrealized depreciation of $161,701. |
(d) | At June 30, 2024, the net unrealized appreciation on investments, based on cost for federal income tax purposes of $4,667,923, amounted to $521,401, which consisted of aggregate gross unrealized appreciation of $535,328, and aggregate gross unrealized depreciation of $13,927. |
Alger AI Enablers & Adopters ETF | |
ASSETS: | |
Investments in unaffiliated securities, at value (Identified cost below)* see accompanying schedules of investments | $7,262,911 |
Receivable for investment securities sold | 135,414 |
Dividends and interest receivable | 1,285 |
Receivable from Investment Manager | 11,446 |
Prepaid expenses | 7,404 |
Total Assets | 7,418,460 |
LIABILITIES: | |
Accrued fund accounting fees | 17,321 |
Accrued professional fees | 8,980 |
Accrued transfer agent fees | 251 |
Accrued investment advisory fees | 2,041 |
Accrued trustee fees | 616 |
Accrued printing fees | 3,971 |
Accrued custodian fees | 1,274 |
Accrued other expenses | 648 |
Payable for investment securities purchased | 216,514 |
Total Liabilities | 251,616 |
NET ASSETS | $7,166,844 |
NET ASSETS CONSIST OF: | |
Paid in capital (par value of $.001 per share) | 6,657,455 |
Distributable earnings | 509,389 |
NET ASSETS | $7,166,844 |
* Identified cost | $6,730,723 (e) |
Alger AI Enablers & Adopters ETF | |
SHARES OF BENEFICIAL INTEREST OUTSTANDING — Note 6: | $325,000 |
NET ASSET VALUE PER SHARE: | $22.05 |
(e) | At June 30, 2024, the net unrealized appreciation on investments, based on cost for federal income tax purposes of $6,730,723, amounted to $532,188, which consisted of aggregate gross unrealized appreciation of $545,482, and aggregate gross unrealized depreciation of $13,294. |
Alger 35 ETF | Alger Mid Cap 40 ETF | |
INCOME: | ||
Dividends (net of foreign withholding taxes*) | $23,851 | $25,110 |
Interest | 8,947 | 71,723 |
Total Income | 32,798 | 96,833 |
EXPENSES: | ||
Investment management fees — Note 3 | 37,504 | 81,945 |
Fund accounting fees | 33,321 | 33,491 |
Professional fees | 13,716 | 13,624 |
Licensing fees | 10,446 | 13,609 |
Transfer agent fees — Note 3 | 7,618 | 7,618 |
Custodian fees | 3,513 | 2,980 |
Printing fees | 1,590 | 5,587 |
Trustee fees — Note 3 | 206 | 653 |
Registration fees | 2 | — |
Other expenses | 2,195 | 6,614 |
Total Expenses | 110,111 | 166,121 |
Less, expense reimbursements/waivers — Note 3 | (64,347 ) | (67,942 ) |
Net Expenses | 45,764 | 98,179 |
NET INVESTMENT (LOSS) | (12,966 ) | (1,346 ) |
REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS AND FOREIGN CURRENCY: | ||
Net realized gain on unaffiliated investments | 583,327 | 2,632,635 |
Net realized gain on redemptions in-kind | 616,909 | — |
Total net realized gain | 1,200,236 | 2,632,635 |
Net change in unrealized appreciation on unaffiliated investments | 2,220,693 | 2,533,824 |
Total change in unrealized appreciation | 2,220,693 | 2,533,824 |
Net realized and unrealized gain on investments and foreign currency | 3,420,929 | 5,166,459 |
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS | $3,407,963 | $5,165,113 |
Alger Weatherbie Enduring Growth ETF | Alger Concentrated Equity ETF From April 4, 2024 (commencement of operations) to June 30, 2024 | |
INCOME: | ||
Dividends (net of foreign withholding taxes*) | $4,480 | $4,127 |
Interest | 6,464 | 767 |
Total Income | 10,944 | 4,894 |
EXPENSES: | ||
Investment management fees — Note 3 | 12,544 | 4,597 |
Fund accounting fees | 31,426 | 17,318 |
Professional fees | 14,176 | 9,667 |
Licensing fees | 7,613 | — |
Transfer agent fees — Note 3 | 7,618 | 257 |
Custodian fees | 2,414 | 1,273 |
Printing fees | 1,230 | 4,511 |
Trustee fees — Note 3 | 202 | 645 |
Registration fees | 8 | — |
Other expenses | 1,453 | 789 |
Total Expenses | 78,684 | 39,057 |
Less, expense reimbursements/waivers — Note 3 | (63,883 ) | (33,439 ) |
Net Expenses | 14,801 | 5,618 |
NET INVESTMENT (LOSS) | (3,857 ) | (724 ) |
REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS AND FOREIGN CURRENCY: | ||
Net realized gain (loss) on unaffiliated investments | 34,179 | (21,223 ) |
Total net realized gain | 34,179 | (21,223 ) |
Net change in unrealized appreciation on unaffiliated investments | 270,696 | 521,401 |
Total change in unrealized appreciation | 270,696 | 521,401 |
Net realized and unrealized gain on investments and foreign currency | 304,875 | 500,178 |
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS | $301,018 | $499,454 |
* Foreign withholding taxes | $149 | $89 |
Alger AI Enablers & Adopters ETF From April 4, 2024 (commencement of operations) to June 30, 2024 | |
INCOME: | |
Dividends (net of foreign withholding taxes*) | $5,898 |
Interest | 1,230 |
Total Income | 7,128 |
EXPENSES: | |
Investment management fees — Note 3 | 4,720 |
Fund accounting fees | 17,321 |
Professional fees | 9,667 |
Transfer agent fees — Note 3 | 257 |
Custodian fees | 1,274 |
Printing fees | 4,511 |
Trustee fees — Note 3 | 645 |
Other expenses | 789 |
Total Expenses | 39,184 |
Less, expense reimbursements/waivers — Note 3 | (33,417 ) |
Net Expenses | 5,767 |
NET INVESTMENT INCOME | 1,361 |
REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS AND FOREIGN CURRENCY: | |
Net realized (loss) on unaffiliated investments | (24,160 ) |
Total net realized gain | (24,160 ) |
Net change in unrealized appreciation on unaffiliated investments | 532,188 |
Total change in unrealized appreciation | 532,188 |
Net realized and unrealized gain on investments and foreign currency | 508,028 |
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS | $509,389 |
* Foreign withholding taxes | $14 |
Alger 35 ETF | ||
For the Six Months Ended June 30, 2024 | For the Year Ended December 31, 2023 | |
Net investment (loss) | $(12,966 ) | $(10,697 ) |
Net realized gain (loss) | 1,200,236 | (283,338 ) |
Net change in unrealized appreciation | 2,220,693 | 3,189,582 |
Net increase in net assets resulting from operations | 3,407,963 | 2,895,547 |
Dividends and distributions to shareholders: | ||
Total dividends and distributions to shareholders | — | (1,125 ) |
Net increase from shares of beneficial interest transactions — Note 6 | 3,113,841 | 1,099,250 |
Total increase | 6,521,804 | 3,993,672 |
Net Assets: | ||
Beginning of period | 12,977,144 | 8,983,472 |
END OF PERIOD | $19,498,948 | $12,977,144 |
Alger Mid Cap 40 ETF | ||
For the Six Months Ended June 30, 2024 | For the Year Ended December 31, 2023 | |
Net investment income (loss) | $(1,346 ) | $17,935 |
Net realized gain (loss) | 2,632,635 | (1,123,275 ) |
Net change in unrealized appreciation | 2,533,824 | 5,367,202 |
Net increase in net assets resulting from operations | 5,165,113 | 4,261,862 |
Dividends and distributions to shareholders: | ||
Net increase (decrease) from shares of beneficial interest transactions — Note 6 | 3,785,470 | (4,848,000 ) |
Total increase (decrease) | 8,950,583 | (586,138 ) |
Net Assets: | ||
Beginning of period | 28,052,018 | 28,638,156 |
END OF PERIOD | $37,002,601 | $28,052,018 |
Alger Weatherbie Enduring Growth ETF | ||
For the Six Months Ended June 30, 2024 | From March 6, 2023 (commencement of operations) to December 31, 2023 | |
Net investment income (loss) | $(3,857 ) | $11,079 |
Net realized gain (loss) | 34,179 | (110,732 ) |
Net change in unrealized appreciation | 270,696 | 702,075 |
Net increase in net assets resulting from operations | 301,018 | 602,422 |
Dividends and distributions to shareholders: | ||
Total dividends and distributions to shareholders | — | (10,700 ) |
Net increase from shares of beneficial interest transactions — Note 6 | — | 3,821,625 |
Total increase | 301,018 | 4,413,347 |
Net Assets: | ||
Beginning of period | 4,413,347 | — |
END OF PERIOD | $4,714,365 | $4,413,347 |
Alger Concentrated Equity ETF | |
From April 4, 2024 (commencement of operations) to June 30, 2024 | |
Net investment (loss) | $(724 ) |
Net realized (loss) | (21,223 ) |
Net change in unrealized appreciation | 521,401 |
Net increase in net assets resulting from operations | 499,454 |
Dividends and distributions to shareholders: | |
Net increase from shares of beneficial interest transactions — Note 6 | 4,736,289 |
Total increase | 5,235,743 |
Net Assets: | |
Beginning of period | — |
END OF PERIOD | $5,235,743 |
Alger AI Enablers & Adopters ETF | |
From April 4, 2024 (commencement of operations) to June 30, 2024 | |
Net investment income | $1,361 |
Net realized (loss) | (24,160 ) |
Net change in unrealized appreciation | 532,188 |
Net increase in net assets resulting from operations | 509,389 |
Dividends and distributions to shareholders: | |
Net increase from shares of beneficial interest transactions — Note 6 | 6,657,455 |
Total increase | 7,166,844 |
Net Assets: | |
Beginning of period | — |
END OF PERIOD | $7,166,844 |
Alger 35 ETF | ||||
Six Months Ended 6/30/2024(a) | Year Ended 12/31/2023 | Year Ended 12/31/2022 | From 5/3/2021 (commencement of operations) to 12/31/2021(a) | |
Net asset value, beginning of period | $17.30 | $13.07 | $20.40 | $20.00 |
INCOME FROM INVESTMENT OPERATIONS: | ||||
Net investment income (loss)(b) | (0.02) | (0.01) | 0.01 | (0.04) |
Net realized and unrealized gain (loss) on investments | 4.09 | 4.24 | (7.33) | 0.44 |
Total from investment operations | 4.07 | 4.23 | (7.32) | 0.40 |
Dividends from net investment income | — | — (c) | (0.01) | — |
Net asset value, end of period | $21.37 | $17.30 | $13.07 | $20.40 |
Total return | 23.53 % | 32.38 % | (35.90) % | 2.00 % |
RATIOS/SUPPLEMENTAL DATA: | ||||
Net assets, end of period (000's omitted) | $19,499 | $12,977 | $8,983 | $13,517 |
Ratio of gross expenses to average net assets | 1.33 % | 1.60 % | 1.83 % | 1.85 % |
Ratio of expense reimbursements to average net assets | (0.78) % | (1.05) % | (1.28) % | (1.30) % |
Ratio of net expenses to average net assets | 0.55 % | 0.55 % | 0.55 % | 0.55 % |
Ratio of net investment income (loss) to average net assets | (0.16) % | (0.10) % | 0.08 % | (0.28) % |
Portfolio turnover rate(d) | 152.51 % | 414.20 % | 187.01 % | 99.20 % |
(a) | Ratios have been annualized; total return and portfolio turnover rate have not been annualized. |
(b) | Amount was computed based on average shares outstanding during the period. |
(c) | Amount was less than $0.005 per share. |
(d) | Portfolio turnover excludes the value of portfolio securities received or delivered as a result of in-kind fund share transactions. |
Alger Mid Cap 40 ETF | ||||
Six Months Ended 6/30/2024(a) | Year Ended 12/31/2023 | Year Ended 12/31/2022 | From 2/26/2021 (commencement of operations) to 12/31/2021(a) | |
Net asset value, beginning of period | $13.60 | $11.69 | $20.00 | $20.00 |
INCOME FROM INVESTMENT OPERATIONS: | ||||
Net investment income (loss)(b) | — (c) | 0.01 | (0.01) | (0.08) |
Net realized and unrealized gain (loss) on investments | 2.49 | 1.90 | (8.30) | 1.15 |
Total from investment operations | 2.49 | 1.91 | (8.31) | 1.07 |
Distributions from net realized gains | — | — | — | (1.07) |
Net asset value, end of period | $16.09 | $13.60 | $11.69 | $20.00 |
Total return | 18.31 % | 16.34 % | (41.55) % | 5.62 % |
RATIOS/SUPPLEMENTAL DATA: | ||||
Net assets, end of period (000's omitted) | $37,003 | $28,052 | $28,638 | $38,750 |
Ratio of gross expenses to average net assets | 1.02 % | 1.15 % | 1.19 % | 1.23 % |
Ratio of expense reimbursements to average net assets | (0.42) % | (0.53) % | (0.59) % | (0.63) % |
Ratio of net expenses to average net assets | 0.60 % | 0.60 % | 0.60 % | 0.60 % |
Ratio of net investment income (loss) to average net assets | (0.01) % | 0.06 % | (0.09) % | (0.43) % |
Portfolio turnover rate(d) | 91.35 % | 206.82 % | 256.37 % | 417.06 % |
(a) | Ratios have been annualized; total return and portfolio turnover rate have not been annualized. |
(b) | Amount was computed based on average shares outstanding during the period. |
(c) | Amount was less than $0.005 per share. |
(d) | Portfolio turnover excludes the value of portfolio securities received or delivered as a result of in-kind fund share transactions. |
Alger Weatherbie Enduring Growth ETF | ||
Six Months Ended 6/30/2024(a) | From 3/6/2023 (commencement of operations) to 12/31/2023(a) | |
Net asset value, beginning of period | $22.07 | $19.90 |
INCOME FROM INVESTMENT OPERATIONS: | ||
Net investment income (loss)(b) | (0.03) | 0.06 |
Net realized and unrealized gain on investments | 1.53 | 2.16 |
Total from investment operations | 1.50 | 2.22 |
Dividends from net investment income | — | (0.05) |
Net asset value, end of period | $23.57 | $22.07 |
Total return | 6.80 % | 11.18 % |
RATIOS/SUPPLEMENTAL DATA: | ||
Net assets, end of period (000's omitted) | $4,714 | $4,413 |
Ratio of gross expenses to average net assets | 3.49 % | 4.48 % |
Ratio of expense reimbursements to average net assets | (2.84) % | (3.83) % |
Ratio of net expenses to average net assets | 0.65 % | 0.65 % |
Ratio of net investment income (loss) to average net assets | (0.16) % | 0.36 % |
Portfolio turnover rate(c) | 22.44 % | 35.65 % |
(a) | Ratios have been annualized; total return and portfolio turnover rate have not been annualized. |
(b) | Amount was computed based on average shares outstanding during the period. |
(c) | Portfolio turnover excludes the value of portfolio securities received or delivered as a result of in-kind fund share transactions. |
Alger Concentrated Equity ETF | |
From 4/4/2024 (commencement of operations) to 6/30/2024(a) | |
Net asset value, beginning of period | $19.75 |
INCOME FROM INVESTMENT OPERATIONS: | |
Net investment income(b) | — (c) |
Net realized and unrealized gain on investments | 2.30 |
Total from investment operations | 2.30 |
Net asset value, end of period | $22.05 |
Total return | 11.65 % |
RATIOS/SUPPLEMENTAL DATA: | |
Net assets, end of period (000's omitted) | $5,236 |
Ratio of gross expenses to average net assets | 3.82 % |
Ratio of expense reimbursements to average net assets | (3.27) % |
Ratio of net expenses to average net assets | 0.55 % |
Ratio of net investment loss to average net assets | (0.05) % |
Portfolio turnover rate(d) | 17.31 % |
(a) | Ratios have been annualized; total return and portfolio turnover rate have not been annualized. |
(b) | Amount was computed based on average shares outstanding during the period. |
(c) | Amount was less than $0.005 per share. |
(d) | Portfolio turnover excludes the value of portfolio securities received or delivered as a result of in-kind fund share transactions. |
Alger AI Enablers & Adopters ETF | |
From 4/4/2024 (commencement of operations) to 6/30/2024(a) | |
Net asset value, beginning of period | $19.73 |
INCOME FROM INVESTMENT OPERATIONS: | |
Net investment income(b) | 0.01 |
Net realized and unrealized gain on investments | 2.31 |
Total from investment operations | 2.32 |
Net asset value, end of period | $22.05 |
Total return | 11.76 % |
RATIOS/SUPPLEMENTAL DATA: | |
Net assets, end of period (000's omitted) | $7,167 |
Ratio of gross expenses to average net assets | 3.74 % |
Ratio of expense reimbursements to average net assets | (3.19) % |
Ratio of net expenses to average net assets | 0.55 % |
Ratio of net investment income to average net assets | 0.13 % |
Portfolio turnover rate(c) | 28.28 % |
(a) | Ratios have been annualized; total return and portfolio turnover rate have not been annualized. |
(b) | Amount was computed based on average shares outstanding during the period. |
(c) | Portfolio turnover excludes the value of portfolio securities received or delivered as a result of in-kind fund share transactions. |
Actual Rate | |
Alger 35 ETF | 0.45 % |
Alger Mid Cap 40 ETF | 0.50 |
Alger Weatherbie Enduring Growth ETF | 0.55 |
Alger Concentrated Equity ETF | 0.45 |
Alger AI Enablers & Adopters ETF | 0.45 |
OTHER EXPENSES WAIVER / REIMBURSMENT | FEES WAIVED / REIMBURSED FOR THE SIX MONTHS ENDED June 30, 2024 | |
Alger 35 ETF | 0.10 % | $64,347 |
Alger Mid Cap 40 ETF | 0.10 % | 67,942 |
Alger Weatherbie Enduring Growth ETF | 0.10 % | 63,883 |
Alger Concentrated Equity ETF(a) | 0.10 % | 33,439 |
Alger AI Enablers & Adopters ETF(a) | 0.10 % | 33,417 |
(a) | Commenced operations on April 4, 2024. |
PURCHASES | SALES | |
Alger 35 ETF | $26,153,320 | $24,345,754 |
Alger Mid Cap 40 ETF | 27,437,132 | 29,155,583 |
Alger Weatherbie Enduring Growth ETF | 969,163 | 1,067,171 |
Alger Concentrated Equity ETF | 1,011,408 | 823,746 |
Alger AI Enablers & Adopters ETF | 1,659,766 | 1,479,104 |
PURCHASES | SALES | |
Alger 35 ETF | $1,756,506 | $2,059,462 |
Alger Mid Cap 40 ETF | 3,291,930 | — |
Alger Weatherbie Enduring Growth ETF | — | — |
Alger Concentrated Equity ETF | 4,386,793 | — |
Alger AI Enablers & Adopters ETF | 6,256,396 | — |
Alger Fund Complex:
AVERAGE DAILY BORROWING | WEIGHTED AVERAGE INTEREST RATE | |
Alger 35 ETF | $731 | 7.33 % |
Alger Mid Cap 40 ETF | — | — |
Alger Weatherbie Enduring Growth ETF | — | — |
Alger Concentrated Equity ETF | — | — |
Alger AI Enablers & Adopters ETF | — | — |
HIGHEST BORROWING | |
Alger 35 ETF | $131,519 |
Alger Mid Cap 40 ETF | — |
Alger Weatherbie Enduring Growth ETF | — |
Alger Concentrated Equity ETF | 10,023 |
Alger AI Enablers & Adopters ETF | — |
FOR THE SIX MONTHS ENDED June 30, 2024 | FOR THE YEAR ENDED December 31, 2023 | |||
SHARES | AMOUNT | SHARES | AMOUNT | |
Alger 35 ETF | ||||
Shares sold | 275,000 | $5,200,716 | 200,000 | $3,069,000 |
Dividends reinvested | — | — | — | — |
Shares redeemed | (112,500 ) | (2,086,875 ) | (137,500 ) | (1,969,750 ) |
Net increase | 162,500 | $3,113,841 | 62,500 | $1,099,250 |
FOR THE SIX MONTHS ENDED June 30, 2024 | FOR THE YEAR ENDED December 31, 2023 | |||
SHARES | AMOUNT | SHARES | AMOUNT | |
Alger Mid Cap 40 ETF | ||||
Shares sold | 237,500 | $3,785,470 | 212,500 | $2,603,625 |
Dividends reinvested | — | — | — | — |
Redemptions in kind* | — | — | (175,000 ) | (2,161,250 ) |
Shares redeemed | — | — | (425,000 ) | (5,290,375 ) |
Net increase (decrease) | 237,500 | $3,785,470 | (387,500 ) | $(4,848,000 ) |
FOR THE SIX MONTHS ENDED June 30, 2024 | FOR THE YEAR ENDED December 31, 2023 | |||
SHARES | AMOUNT | SHARES | AMOUNT | |
Alger Weatherbie Enduring Growth ETF | ||||
Shares sold | — | $— | 200,000 | $3,821,625 |
Dividends reinvested | — | — | — | — |
Shares redeemed | — | — | — | — |
Net increase | — | $— | 200,000 | $3,821,625 |
FOR THE PERIOD April 4, 2024 (COMMENCEMENT OF OPERATIONS) TO June 30, 2024 | ||
SHARES | AMOUNT | |
Alger Concentrated Equity ETF** | ||
Shares sold | 237,500 | $4,736,289 |
Dividends reinvested | — | — |
Shares redeemed | — | — |
Net increase | 237,500 | $4,736,289 |
FOR THE PERIOD April 4, 2024 (COMMENCEMENT OF OPERATIONS) TO June 30, 2024 | ||
SHARES | AMOUNT | |
Alger AI Enablers & Adopters ETF** | ||
Shares sold | 325,000 | $6,657,455 |
Dividends reinvested | — | — |
Shares redeemed | — | — |
Net increase | 325,000 | $6,657,455 |
* Certain shareholders of the Fund redeemed shares in-kind. | ||
** Inception date 4/4/2024. |
Alger 35 ETF | TOTAL | LEVEL 1 | LEVEL 2 | LEVEL 3 |
COMMON STOCKS | ||||
Communication Services | $3,192,817 | $3,192,817 | $— | $— |
Consumer Discretionary | 2,740,724 | 2,740,724 | — | — |
Energy | 377,561 | 377,561 | — | — |
Healthcare | 1,754,808 | 1,754,808 | — | — |
Industrials | 957,665 | 957,665 | — | — |
Information Technology | 9,160,075 | 9,160,075 | — | — |
Materials | 386,036 | 386,036 | — | — |
Utilities | 395,733 | 395,733 | — | — |
TOTAL COMMON STOCKS | $18,965,419 | $18,965,419 | $— | $— |
SHORT-TERM INVESTMENTS | ||||
Money Market Funds | 540,804 | 540,804 | — | — |
TOTAL INVESTMENTS IN SECURITIES | $19,506,223 | $19,506,223 | $— | $— |
Alger Mid Cap 40 ETF | TOTAL | LEVEL 1 | LEVEL 2 | LEVEL 3 |
COMMON STOCKS | ||||
Communication Services | $3,013,220 | $3,013,220 | $— | $— |
Consumer Discretionary | 3,851,495 | 3,851,495 | — | — |
Consumer Staples | 592,123 | 592,123 | — | — |
Energy | 928,481 | 928,481 | — | — |
Financials | 762,142 | 762,142 | — | — |
Healthcare | 4,506,505 | 4,506,505 | — | — |
Industrials | 8,823,081 | 8,823,081 | — | — |
Information Technology | 9,685,994 | 9,685,994 | — | — |
Utilities | 1,031,991 | 1,031,991 | — | — |
TOTAL COMMON STOCKS | $33,195,032 | $33,195,032 | $— | $— |
SHORT-TERM INVESTMENTS | ||||
Money Market Funds | 3,801,547 | 3,801,547 | — | — |
TOTAL INVESTMENTS IN SECURITIES | $36,996,579 | $36,996,579 | $— | $— |
Alger Weatherbie Enduring Growth ETF | TOTAL | LEVEL 1 | LEVEL 2 | LEVEL 3 |
COMMON STOCKS | ||||
Communication Services | $66,806 | $66,806 | $— | $— |
Consumer Discretionary | 156,876 | 156,876 | — | — |
Financials | 228,119 | 228,119 | — | — |
Healthcare | 782,449 | 782,449 | — | — |
Industrials | 2,091,140 | 2,091,140 | — | — |
Information Technology | 769,182 | 769,182 | — | — |
Real Estate | 314,187 | 314,187 | — | — |
TOTAL COMMON STOCKS | $4,408,759 | $4,408,759 | $— | $— |
Alger Weatherbie Enduring Growth ETF | TOTAL | LEVEL 1 | LEVEL 2 | LEVEL 3 |
SHORT-TERM INVESTMENTS | ||||
Money Market Funds | $341,615 | $341,615 | $— | $— |
TOTAL INVESTMENTS IN SECURITIES | $4,750,374 | $4,750,374 | $— | $— |
Alger Concentrated Equity ETF | TOTAL | LEVEL 1 | LEVEL 2 | LEVEL 3 |
COMMON STOCKS | ||||
Communication Services | $682,727 | $682,727 | $— | $— |
Consumer Discretionary | 581,401 | 581,401 | — | — |
Energy | 51,758 | 51,758 | — | — |
Financials | 214,889 | 214,889 | — | — |
Healthcare | 416,270 | 416,270 | — | — |
Industrials | 477,064 | 477,064 | — | — |
Information Technology | 2,576,800 | 2,576,800 | — | — |
Utilities | 73,699 | 73,699 | — | — |
TOTAL COMMON STOCKS | $5,074,608 | $5,074,608 | $— | $— |
SHORT-TERM INVESTMENTS | ||||
Money Market Funds | 114,716 | 114,716 | — | — |
TOTAL INVESTMENTS IN SECURITIES | $5,189,324 | $5,189,324 | $— | $— |
Alger AI Enablers & Adopters ETF | TOTAL | LEVEL 1 | LEVEL 2 | LEVEL 3 |
COMMON STOCKS | ||||
Communication Services | $1,142,907 | $1,142,907 | $— | $— |
Consumer Discretionary | 965,588 | 965,588 | — | — |
Consumer Staples | 38,053 | 38,053 | — | — |
Financials | 257,065 | 257,065 | — | — |
Healthcare | 308,004 | 308,004 | — | — |
Industrials | 151,315 | 151,315 | — | — |
Information Technology | 3,746,388 | 3,746,388 | — | — |
Real Estate | 61,580 | 61,580 | — | — |
Utilities | 200,039 | 200,039 | — | — |
TOTAL COMMON STOCKS | $6,870,939 | $6,870,939 | $— | $— |
REAL ESTATE INVESTMENT TRUST | ||||
Real Estate | 74,147 | 74,147 | — | — |
SHORT-TERM INVESTMENTS | ||||
Money Market Funds | 317,825 | 317,825 | — | — |
TOTAL INVESTMENTS IN SECURITIES | $7,262,911 | $7,262,911 | $— | $— |
TOTAL | LEVEL 1 | LEVEL 2 | LEVEL 3 | |
Assets | ||||
Cash and foreign cash | ||||
Alger 35 ETF | $27 | $27 | $– | $– |
Alger Concentrated Equity ETF | – | – | – | – |
Alger AI Enablers & Adopters ETF | – | – | – | – |
Liabilities | ||||
Bank overdraft | ||||
Alger Mid Cap 40 ETF | (58 ) | (58 ) | – | – |
Alger Weatherbie Enduring Growth ETF | (51 ) | (51 ) | – | – |
New York, NY 10004
(800) 992-3863
www.alger.com
100 Pearl Street, 27th Floor
New York, NY 10004
265 Franklin Street, Suite 1603
Boston, MA 02110
100 Pearl Street, 27th Floor
New York, NY 10004
240 Greenwich Street
New York, NY 10286
240 Greenwich Street
New York, NY 10286
30 Rockefeller Plaza
New York, NY 10112
ITEM 8. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES.
Not applicable.
ITEM 9. PROXY DISCLOSURES FOR OPEN-END MANAGEMENT INVESTMENT COMPANIES
Not applicable.
ITEM 10. REMUNERATION PAID TO DIRECTORS, OFFICERS, AND OTHERS OF OPEN-END MANAGEMENT INVESTMENT COMPANIES.
Remuneration paid to directors, officers and other is included in the Statement of Operations under the line items “Trustee fees” and “Investment advisory fees” as part of the financial statements filed under Item 7 of this Form N-CSR.
ITEM 11. STATEMENT REGARDING BASIS FOR APPROVAL OF INVESTMENT ADVISORY CONTRACT.
[Insert Statement Regarding Basis for Approval of Investment Advisory Contract]
ITEM 12. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
Not applicable.
ITEM 13. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
Not applicable.
ITEM 14. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS.
Not applicable.
ITEM 15. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.
There have been no material changes to these procedures.
ITEM 16. CONTROLS AND PROCEDURES.
(a) | The Registrant’s principal executive officer and principal financial officer have concluded that the Registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended) are effective based on their evaluation of the disclosure controls and procedures as of a date within 90 days of the filing date of this document.
| |
(b) | There were no changes in the Registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the Registrant’s second fiscal quarter of the period covered by this Form N-CSR, that have materially affected, or are reasonably likely to materially affect, the Registrant’s internal control over financial reporting. |
ITEM 17. DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
Not applicable.
ITEM 18. RECOVERY OF ERRONEOUSLY AWARDED COMPENSATION
Not applicable.
ITEM 19. EXHIBITS.
(a)(1) | Not applicable to this semi-annual report.
| |
(a)(2) | Not applicable to this semi-annual report.
| |
(a)(3) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
The Alger ETF Trust
By: | /s/ Hal Liebes | |
Name: | Hal Liebes | |
Title: | Principal Executive Officer | |
Date: | August 20, 2024 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By: | /s/ Hal Liebes | |
Name: | Hal Liebes | |
Title: | Principal Executive Officer | |
Date: | August 20, 2024 |
By: | /s/ Michael D. Martins | |
Name: | Michael D. Martins | |
Title: | Principal Financial Officer | |
Date: | August 20, 2024 |