Alger Mid Cap 40 ETF (FRTY) NPORT-P Alger Weatherbie Enduring Growth ETF (Sep 2023 report)

THE ALGER ETF TRUST

ALGER 35 ETF
ALGER MID CAP 40 ETF
ALGER WEATHERBIE ENDURING GROWTH ETF

QUARTERLY REPORT
SEPTEMBER 30, 2023 (UNAUDITED)

THE ALGER ETF TRUST ALGER 35 ETF ALGER MID CAP 40 ETF ALGER WEATHERBIE ENDURING GROWTH ETF QUARTERLY REPORT SEPTEMBER 30, 2023 (UNAUDITED)

THE ALGER ETF TRUST | ALGER 35 ETF

Schedule of Investments September 30, 2023 (Unaudited)

COMMON STOCKS—93.8%	SHARES		VALUE
ADVERTISING—1.7%
The Trade Desk, Inc., Cl. A*		2,710	$	211,786
AEROSPACE & DEFENSE—2.0%
HEICO Corp., Cl. A		1,965		253,917
APPAREL RETAIL—1.5%
Burlington Stores, Inc.*		1,392		188,338
APPLICATION SOFTWARE—4.2%
AppFolio, Inc., Cl. A*		2,880		525,974
AUTOMOBILE MANUFACTURERS—2.6%
Rivian Automotive, Inc., Cl. A*		8,356		202,884
Tesla, Inc.*		497		124,359
				327,243
BIOTECHNOLOGY—5.0%
Amgen, Inc.		966		259,622
Cabaletta Bio, Inc.*		24,260		369,237
				628,859
BROADLINE RETAIL—6.9%
Amazon.com, Inc.*		3,915		497,675
MercadoLibre, Inc.*		292		370,221
				867,896
CABLE & SATELLITE—2.0%
Charter Communications, Inc., Cl. A*		563		247,619
CASINOS & GAMING—3.0%
DraftKings, Inc., Cl. A*		12,908		380,012
COMMUNICATIONS EQUIPMENT—2.5%
Arista Networks, Inc.*		1,747		321,326
ELECTRONIC EQUIPMENT & INSTRUMENTS—1.6%
908 Devices, Inc.*		31,179		207,652
HOTELS RESORTS & CRUISE LINES—3.9%
Booking Holdings, Inc.*		43		132,610
Lindblad Expeditions Holdings, Inc.*		49,440		355,968
				488,578
INTERACTIVE MEDIA & SERVICES—16.1%
Alphabet, Inc., Cl. A*		2,877		376,484
Match Group, Inc.*		6,022		235,912
Meta Platforms, Inc., Cl. A*		3,017		905,733
Pinterest, Inc., Cl. A*		18,928		511,624
				2,029,753
INTERNET SERVICES & INFRASTRUCTURE—2.0%
MongoDB, Inc., Cl. A*		487		168,434
Shopify, Inc., Cl. A*		1,673		91,295
				259,729
MOVIES & ENTERTAINMENT—3.5%
Netflix, Inc.*		842		317,939
Spotify Technology SA*		799		123,558
				441,497

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THE ALGER ETF TRUST | ALGER 35 ETF

Schedule of Investments September 30, 2023 (Unaudited) (Continued)

COMMON STOCKS—93.8% (CONT.)	SHARES			VALUE
OIL & GAS EQUIPMENT & SERVICES—5.1%
Schlumberger NV		10,990		$	640,717
OIL & GAS EXPLORATION & PRODUCTION—4.2%
Pioneer Natural Resources Co.		2,340			537,147
PHARMACEUTICALS—4.0%
Eli Lilly & Co.		946			508,125
SEMICONDUCTORS—11.5%
Marvell Technology, Inc.		2,432			131,644
NVIDIA Corp.		2,737			1,190,568
Rambus, Inc.*		2,262			126,197
					1,448,409
SYSTEMS SOFTWARE—10.5%
Microsoft Corp.		2,964			935,883
Zscaler, Inc.*		2,527			393,176
					1,329,059
TOTAL COMMON STOCKS
(Cost $11,373,132)					11,843,636
Total Investments
(Cost $11,373,132)		93.8	%	$	11,843,636
Unaffiliated Securities (Cost $11,373,132)					11,843,636
Other Assets in Excess of Liabilities		6.2	%		779,704
NET ASSETS		100.0	%	$	12,623,340

* Non-income producing security.

See Notes to Financial Statements.

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THE ALGER ETF TRUST | ALGER MID CAP 40 ETF

Schedule of Investments September 30, 2023 (Unaudited)

COMMON STOCKS—91.3%	SHARES		VALUE
ADVERTISING—3.4%
The Trade Desk, Inc., Cl. A*		11,742	$	917,637
AEROSPACE & DEFENSE—6.8%
HEICO Corp., Cl. A		9,394		1,213,893
TransDigm Group, Inc.*		708		596,936
				1,810,829
APPLICATION SOFTWARE—16.2%
AppFolio, Inc., Cl. A*		5,692		1,039,530
Datadog, Inc., Cl. A*		8,592		782,645
Manhattan Associates, Inc.*		5,878		1,161,845
Procore Technologies, Inc.*		5,087		332,283
PTC, Inc.*		3,364		476,612
Synopsys, Inc.*		1,150		527,815
				4,320,730
AUTOMOTIVE PARTS & EQUIPMENT—2.5%
Mobileye Global, Inc., Cl. A*		15,758		654,745
BIOTECHNOLOGY—17.9%
Apellis Pharmaceuticals, Inc.*		2,949		112,180
Cabaletta Bio, Inc.*		39,746		604,934
Exact Sciences Corp.*		10,846		739,914
Madrigal Pharmaceuticals, Inc.*		2,970		433,739
Natera, Inc.*		20,847		922,480
Neurocrine Biosciences, Inc.*		4,740		533,250
Sarepta Therapeutics, Inc.*		6,924		839,327
Vaxcyte, Inc.*		11,064		564,043
				4,749,867
BROADLINE RETAIL—1.2%
MercadoLibre, Inc.*		256		324,577
CARGO GROUND TRANSPORTATION—3.8%
Old Dominion Freight Line, Inc.		1,645		673,035
Saia, Inc.*		819		326,495
				999,530
CASINOS & GAMING—2.8%
DraftKings, Inc., Cl. A*		24,872		732,232
ELECTRICAL COMPONENTS & EQUIPMENT—4.3%
Vertiv Holdings Co., Cl. A		30,506		1,134,823
ENVIRONMENTAL & FACILITIES SERVICES—2.0%
Waste Connections, Inc.		3,882		521,353
HEALTH CARE DISTRIBUTORS—2.1%
McKesson Corp.		1,285		558,782
HEALTH CARE EQUIPMENT—2.2%
Shockwave Medical, Inc.*		2,884		574,204
HEALTH CARE SUPPLIES—0.8%
Align Technology, Inc.*		731		223,189
HOMEBUILDING—1.2%
NVR, Inc.*		54		322,018
INDUSTRIAL MACHINERY & SUPPLIES & COMPONENTS—2.1%
Helios Technologies, Inc.		10,262		569,336

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THE ALGER ETF TRUST | ALGER MID CAP 40 ETF

Schedule of Investments September 30, 2023 (Unaudited) (Continued)

COMMON STOCKS—91.3% (CONT.)	SHARES			VALUE
INTERACTIVE MEDIA & SERVICES—1.6%
Pinterest, Inc., Cl. A*		15,395		$	416,127
INTERNET SERVICES & INFRASTRUCTURE—1.4%
Snowflake, Inc., Cl. A*		2,467			376,883
MOVIES & ENTERTAINMENT—4.8%
Liberty Media Corp. Series C Liberty Formula One*		20,481			1,275,966
OIL & GAS EXPLORATION & PRODUCTION—2.1%
Diamondback Energy, Inc.		3,552			550,134
PERSONAL CARE PRODUCTS—1.6%
e.l.f. Beauty, Inc.*		3,931			431,742
SEMICONDUCTORS—2.7%
indie Semiconductor, Inc., Cl. A*		32,972			207,724
Monolithic Power Systems, Inc.		1,121			517,902
					725,626
SOFT DRINKS & NON-ALCOHOLIC BEVERAGES—2.7%
Celsius Holdings, Inc.*		4,169			715,400
SYSTEMS SOFTWARE—3.0%
Crowdstrike Holdings, Inc., Cl. A*		2,481			415,270
SentinelOne, Inc., Cl. A*		23,465			395,620
					810,890
TECHNOLOGY HARDWARE STORAGE & PERIPHERALS—2.1%
Super Micro Computer, Inc.*		2,017			553,102
TOTAL COMMON STOCKS
(Cost $22,879,691)					24,269,722
Total Investments
(Cost $22,879,691)		91.3	%	$	24,269,722
Unaffiliated Securities (Cost $22,879,691)					24,269,722
Other Assets in Excess of Liabilities		8.7	%		2,312,069
NET ASSETS		100.0	%	$	26,581,791

* Non-income producing security.

See Notes to Financial Statements.

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THE ALGER ETF TRUST | ALGER WEATHERBIE ENDURING GROWTH ETF

Schedule of Investments September 30, 2023 (Unaudited)

COMMON STOCKS—94.4%	SHARES		VALUE
ADVERTISING—1.3%
The Trade Desk, Inc., Cl. A*		684	$	53,455
AEROSPACE & DEFENSE—12.0%
HEICO Corp.		596		96,510
TransDigm Group, Inc.*		447		376,879
				473,389
APPLICATION SOFTWARE—11.5%
HubSpot, Inc.*		255		125,588
nCino, Inc.*		2,284		72,631
SPS Commerce, Inc.*		689		117,550
Vertex, Inc., Cl. A*		5,869		135,574
				451,343
ASSET MANAGEMENT & CUSTODY BANKS—3.1%
StepStone Group, Inc., Cl. A		3,838		121,204
BIOTECHNOLOGY—1.9%
ACADIA Pharmaceuticals, Inc.*		3,560		74,190
BROADLINE RETAIL—3.6%
Ollie’s Bargain Outlet Holdings, Inc.*		1,832		141,394
CARGO GROUND TRANSPORTATION—5.1%
RXO, Inc.*		4,653		91,804
XPO, Inc.*		1,440		107,510
				199,314
ENVIRONMENTAL & FACILITIES SERVICES—18.1%
Casella Waste Systems, Inc., Cl. A*		4,614		352,048
Montrose Environmental Group, Inc.*		1,490		43,597
Waste Connections, Inc.		2,363		317,351
				712,996
HEALTHCARE EQUIPMENT—8.8%
Glaukos Corp.*		2,395		180,224
Inspire Medical Systems, Inc.*		333		66,080
Insulet Corp.*		287		45,774
Nevro Corp.*		2,901		55,757
				347,835
HUMAN RESOURCE & EMPLOYMENT SERVICES—5.1%
Paylocity Holding Corp.*		1,104		200,597
MANAGED HEALTHCARE—5.6%
Progyny, Inc.*		6,433		218,851
REAL ESTATE SERVICES—8.9%
FirstService Corp.		2,402		349,587
SEMICONDUCTORS—1.8%
Impinj, Inc.*		1,282		70,548
TRADING COMPANIES & DISTRIBUTORS—3.5%
SiteOne Landscape Supply, Inc.*		835		136,481

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THE ALGER ETF TRUST | ALGER WEATHERBIE ENDURING GROWTH ETF

Schedule of Investments September 30, 2023 (Unaudited) (Continued)

COMMON STOCKS—94.4% (CONT.)	SHARES			VALUE
TRANSACTION & PAYMENT PROCESSING SERVICES—4.1%
Flywire Corp.*		5,129		$	163,564
TOTAL COMMON STOCKS
(Cost $3,524,714)					3,714,748
Total Investments
(Cost $3,524,714)		94.4	%	$	3,714,748
Unaffiliated Securities (Cost $3,524,714)					3,714,748
Other Assets in Excess of Liabilities		5.6	%		219,361
NET ASSETS		100.0	%	$	3,934,109

* Non-income producing security.

See Notes to Financial Statements.

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THE ALGER ETF TRUST

NOTES TO FINANCIAL STATEMENTS (Unaudited)

NOTE 1 — General:

The Alger ETF Trust (the “Trust”) is an open-end management investment company, registered under the Investment Company Act of 1940, as amended (the “1940 Act”), and organized as a business trust under the laws of the Commonwealth of Massachusetts on March 24, 2020. The Alger 35 ETF, the Alger Mid Cap 40 ETF and the Alger Weatherbie Enduring Growth ETF are each separate non-diversified series of the Trust (each, a “Fund” and together, the “Funds”). The Trust qualifies as an investment company as defined in Financial Accounting Standards Board (“FASB”) Accounting Standards Codification 946-Financial Services – Investment Companies. Each Fund’s investment objective is to seek long-term capital appreciation. Under normal circumstances, each Fund invests primarily in equity securities. Shares of each Fund are listed for trading on the NYSE Arca, Inc.

The Alger Weatherbie Enduring Growth ETF commenced operations on March 6, 2023.

On May 23, 2023, the Board of Trustees (the “Board”) approved the transition of the Fund’s custodian, administrator, and transfer agent from Brown Brothers Harriman & Company (the “Custodian”) to The Bank of New York Mellon. This change is anticipated to become effective in early 2024.

NOTE 2 — Significant Accounting Policies:

(a) Investment Valuation: The Funds value their financial instruments at fair value using independent dealers or pricing services under policies approved by the Board. Investments held by the Funds are valued on each day the New York Stock Exchange (the “NYSE”) is open, as of the close of the NYSE (normally 4:00 p.m. Eastern Time).

The Board has designated, pursuant to Rule 2a-5 under the Investment Company Act of 1940, as amended (the “1940 Act”), the Funds’ investment adviser, Fred Alger Management, LLC (“Alger Management” or the “Investment Manager”) as its valuation designee (the “Valuation Designee”) to make fair value determinations subject to the Board’s review and oversight. The Valuation Designee has established a Valuation Committee (“Committee”) comprised of representatives of the Investment Manager and officers of the Funds to assist in performing the duties and responsibilities of the Valuation Designee.

The Valuation Designee has established valuation processes including but not limited to: (i) making fair value determinations when market quotations for financial instruments are not readily available in accordance with valuation policies and procedures adopted by the Board; (ii) assessing and managing material risks associated with fair valuation determinations; (iii) selecting, applying and testing fair valuation methodologies; and (iv) overseeing and evaluating pricing services used by the Funds. The Valuation Designee regularly reports its fair valuation determinations and related valuation information to the Board. The Committee generally meets quarterly and on an as-needed basis to review and evaluate the effectiveness of the valuation policies and procedures in accordance with the requirements of Rule 2a-5.

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THE ALGER ETF TRUST

NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)

Investments in money market funds and short-term securities held by the Funds having a remaining maturity of sixty days or less are valued at amortized cost which approximates market value.

Equity securities are valued at the last quoted sales price or official closing price on the primary market or exchange on which they are traded as reported by an independent pricing service. In the absence of quoted sales, such securities are generally valued at the bid price or, in the absence of a recent bid price, the equivalent as obtained from one or more of the major market makers for the securities to be valued.

FASB Accounting Standards Codification 820 – Fair Value Measurements and Disclosures (“ASC 820”) defines fair value as the price that the Funds would receive upon selling an investment in a timely transaction to an independent buyer in the principal or most advantageous market of the investment. ASC 820 established a three-tier hierarchy to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability and may be observable or unobservable. Observable inputs are based on market data obtained from sources independent of the Funds. Unobservable inputs are inputs that reflect the Funds’ own assumptions based on the best information available in the circumstances. The three-tier hierarchy of inputs is summarized in the three broad Levels listed below.

• Level 1 – quoted prices in active markets for identical investments

• Level 2 – significant other observable inputs (including quoted prices for similar investments, amortized cost, interest rates, prepayment speeds, credit risk, etc.)

• Level 3 – significant unobservable inputs (including the Funds’ own assumptions in determining the fair value of investments)

The Funds’ valuation techniques are generally consistent with either the market or the income approach to fair value. The market approach considers prices and other relevant information generated by market transactions involving identical or comparable assets to measure fair value. The income approach converts future amounts to a current, or discounted, single amount. These fair value measurements are determined on the basis of the value indicated by current market expectations about such future events. Inputs for Level 1 include exchange-listed prices and broker quotes in an active market. The Funds cannot invest in Level 2 and Level 3 securities.

(b)  Cash and Cash Equivalents: Cash and cash equivalents include U.S. dollars, U.S. Treasury securities, government money market funds, and repurchase agreements.

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THE ALGER ETF TRUST

NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)

NOTE 3 — Fair Value Measurements:

The following is a summary of the inputs used as of September 30, 2023 in valuing the Funds’ investments carried at fair value on a recurring basis. Based upon the nature, characteristics, and risks associated with their investments, the Funds have determined that presenting them by security type and sector is appropriate.

Alger 35 ETF	TOTAL		LEVEL 1		LEVEL 2		LEVEL 3
COMMON STOCKS
Communication Services	$	2,930,655	$	2,930,655	$	—	$	—
Consumer Discretionary		2,252,067		2,252,067		—		—
Energy		1,177,864		1,177,864		—		—
Healthcare		1,136,984		1,136,984		—		—
Industrials		253,917		253,917		—		—
Information Technology		4,092,149		4,092,149		—		—
TOTAL COMMON STOCKS	$	11,843,636	$	11,843,636	$	—	$	—
TOTAL INVESTMENTS IN SECURITIES	$	11,843,636	$	11,843,636	$	—	$	—

Alger Mid Cap 40 ETF	TOTAL		LEVEL 1		LEVEL 2		LEVEL 3
COMMON STOCKS
Communication Services		2,609,730		2,609,730		—		—
Consumer Discretionary		2,033,572		2,033,572		—		—
Consumer Staples		1,147,142		1,147,142		—		—
Energy		550,134		550,134		—		—
Healthcare		6,106,042		6,106,042		—		—
Industrials		5,035,871		5,035,871		—		—
Information Technology		6,787,231		6,787,231		—		—
TOTAL COMMON STOCKS	$	24,269,722	$	24,269,722	$	—	$	—
TOTAL INVESTMENTS IN SECURITIES	$	24,269,722	$	24,269,722	$	—	$	—

Alger Weatherbie Enduring Growth ETF	TOTAL		LEVEL 1		LEVEL 2		LEVEL 3
COMMON STOCKS
Communication Services		53,455		53,455		—		—
Consumer Discretionary		141,394		141,394		—		—
Financials		284,768		284,768		—		—
Healthcare		74,190		74,190		—		—
Industrials		2,289,463		2,289,463		—		—
Information Technology		521,891		521,891		—		—
Real Estate		349,587		349,587		—		—
TOTAL COMMON STOCKS	$	3,714,748	$	3,714,748	$	—	$	—
TOTAL INVESTMENTS IN SECURITIES	$	3,714,748	$	3,714,748	$	—	$	—

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THE ALGER ETF TRUST

NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)

Certain of the Funds’ assets and liabilities are held at carrying amount or face value, which approximates fair value for financial reporting purposes. As of September 30, 2023, such assets were categorized within the ASC 820 disclosure hierarchy as follows:

	TOTAL FUND		LEVEL 1		LEVEL 2		LEVEL 3
Cash and cash equivalents
Alger 35 ETF	$	797,637	$	—	$	797,637	$	—
Alger Mid Cap 40 ETF		2,350,406		—		2,350,406		—
Alger Weatherbie Enduring Growth ETF		271,773		—		271,773		—

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