THE ALGER ETF TRUST
Alger Concentrated Equity ETF |
Alger 35 ETF |
Alger Mid Cap 40 ETF |
Alger Weatherbie Enduring Growth ETF |
Alger AI Enablers & Adopters ETF |
QUARTERLY REPORT
September 30, 2024 (UNAUDITED)
THE ALGER ETF TRUST | ALGER CONCENTRATED EQUITY ETFSchedule of Investments September 30, 2024 (Unaudited)
SHARES | VALUE | |||
COMMON STOCKS—98.5% | ||||
AEROSPACE & DEFENSE—3.4% | ||||
HEICO Corp., Cl. A | 1,992 | $ 405,890 | ||
APPLICATION SOFTWARE—5.5% | ||||
AppLovin Corp., Cl. A* | 3,281 | 428,334 | ||
Cadence Design Systems, Inc.* | 827 | 224,142 | ||
652,476 | ||||
AUTOMOBILE MANUFACTURERS—2.5% | ||||
Ferrari NV | 306 | 143,854 | ||
Tesla, Inc.* | 602 | 157,501 | ||
301,355 | ||||
BIOTECHNOLOGY—1.4% | ||||
Natera, Inc.* | 1,275 | 161,861 | ||
BROADLINE RETAIL—9.0% | ||||
Amazon.com, Inc.* | 5,133 | 956,432 | ||
MercadoLibre, Inc.* | 52 | 106,702 | ||
1,063,134 | ||||
COAL & CONSUMABLE FUELS—1.2% | ||||
Cameco Corp. | 2,932 | 140,032 | ||
ELECTRIC UTILITIES—2.2% | ||||
Constellation Energy Corp. | 986 | 256,380 | ||
ELECTRICAL COMPONENTS & EQUIPMENT—2.5% | ||||
Vertiv Holdings Co., Cl. A | 2,929 | 291,406 | ||
ENVIRONMENTAL & FACILITIES SERVICES—3.6% | ||||
GFL Environmental, Inc. | 10,651 | 424,762 | ||
FINANCIAL EXCHANGES & DATA—1.9% | ||||
S&P Global, Inc. | 426 | 220,080 | ||
HEALTHCARE EQUIPMENT—2.1% | ||||
Intuitive Surgical, Inc.* | 501 | 246,126 | ||
INTERACTIVE MEDIA & SERVICES—8.5% | ||||
Alphabet, Inc., Cl. C | 1,217 | 203,470 | ||
Meta Platforms, Inc., Cl. A | 1,402 | 802,561 | ||
1,006,031 | ||||
LIFE SCIENCES TOOLS & SERVICES—2.3% | ||||
Danaher Corp. | 987 | 274,406 | ||
MANAGED HEALTHCARE—1.5% | ||||
UnitedHealth Group, Inc. | 301 | 175,989 | ||
MOVIES & ENTERTAINMENT—3.7% | ||||
Liberty Media Corp. Series C Liberty Formula One * | 2,594 | 200,853 | ||
Netflix, Inc.* | 333 | 236,187 | ||
437,040 | ||||
See Notes to Financial Statements.
- 2 -
THE ALGER ETF TRUST | ALGER CONCENTRATED EQUITY ETFSchedule of Investments September 30, 2024 (Unaudited) (Continued)
SHARES | VALUE | |||
COMMON STOCKS—98.5% (CONT.) | ||||
PHARMACEUTICALS—2.0% | ||||
Eli Lilly & Co. | 268 | $ 237,432 | ||
SEMICONDUCTORS—22.5% | ||||
Astera Labs, Inc.* | 3,158 | 165,448 | ||
Broadcom, Inc. | 2,770 | 477,825 | ||
Micron Technology, Inc. | 1,254 | 130,052 | ||
NVIDIA Corp. | 12,246 | 1,487,154 | ||
Taiwan Semiconductor Manufacturing Co., Ltd. ADR | 2,291 | 397,878 | ||
2,658,357 | ||||
SYSTEMS SOFTWARE—12.8% | ||||
Microsoft Corp. | 3,528 | 1,518,099 | ||
TECHNOLOGY HARDWARE STORAGE & PERIPHERALS—7.9% | ||||
Apple, Inc. | 4,034 | 939,922 | ||
TRANSACTION & PAYMENT PROCESSING SERVICES—2.0% | ||||
Visa, Inc., Cl. A | 878 | 241,406 | ||
TOTAL COMMON STOCKS (Cost $10,366,427) | 11,652,184 | |||
SHORT-TERM SECURITIES—2.4% | ||||
MONEY MARKET FUNDS—2.4% | ||||
Dreyfus Treasury Obligations Cash Management Fund, Institutional Shares, 4.81%(a) | 281,911 | 281,911 | ||
(Cost $281,911) | 281,911 | |||
Total Investments (Cost $10,648,338) | 100.9% | $11,934,095 | ||
Unaffiliated Securities (Cost $10,648,338) | 11,934,095 | |||
Liabilities in Excess of Other Assets | (0.9)% | (105,312) | ||
NET ASSETS | 100.0% | $11,828,783 | ||
ADR | American Depositary Receipts |
(a) | Rate shown reflects 7-day effective yield as of September 30, 2024. |
* | Non-income producing security. |
See Notes to Financial Statements.
- 3 -
THE ALGER ETF TRUST | ALGER 35 ETFSchedule of Investments September 30, 2024 (Unaudited)
SHARES | VALUE | |||
COMMON STOCKS—95.6% | ||||
AEROSPACE & DEFENSE—3.5% | ||||
HEICO Corp., Cl. A | 4,030 | $ 821,153 | ||
APPLICATION SOFTWARE—1.5% | ||||
AppLovin Corp., Cl. A* | 2,689 | 351,049 | ||
AUTOMOBILE MANUFACTURERS—1.2% | ||||
Tesla, Inc.* | 1,105 | 289,101 | ||
BIOTECHNOLOGY—5.4% | ||||
Cabaletta Bio, Inc.* | 83,252 | 392,949 | ||
Natera, Inc.* | 6,881 | 873,543 | ||
1,266,492 | ||||
BROADLINE RETAIL—12.8% | ||||
Amazon.com, Inc.* | 10,616 | 1,978,079 | ||
Coupang, Inc., Cl. A* | 18,881 | 463,529 | ||
MercadoLibre, Inc.* | 269 | 551,977 | ||
2,993,585 | ||||
CASINOS & GAMING—1.9% | ||||
DraftKings, Inc., Cl. A* | 11,423 | 447,782 | ||
ELECTRIC UTILITIES—3.1% | ||||
Constellation Energy Corp. | 2,748 | 714,535 | ||
ELECTRICAL COMPONENTS & EQUIPMENT—5.1% | ||||
Enovix Corp.* | 53,671 | 501,287 | ||
Vertiv Holdings Co., Cl. A | 7,081 | 704,489 | ||
1,205,776 | ||||
FOOTWEAR—3.4% | ||||
Deckers Outdoor Corp.* | 2,169 | 345,847 | ||
On Holding AG, Cl. A* | 9,173 | 460,026 | ||
805,873 | ||||
HEALTHCARE EQUIPMENT—2.0% | ||||
Intuitive Surgical, Inc.* | 975 | 478,988 | ||
HEALTHCARE TECHNOLOGY—2.0% | ||||
Health Catalyst, Inc.* | 57,292 | 466,357 | ||
HOTELS RESORTS & CRUISE LINES—1.2% | ||||
Trip.com Group Ltd. ADR* | 4,659 | 276,884 | ||
INTERACTIVE HOME ENTERTAINMENT—3.0% | ||||
Sea Ltd. ADR* | 7,548 | 711,626 | ||
INTERACTIVE MEDIA & SERVICES—6.1% | ||||
Meta Platforms, Inc., Cl. A | 2,495 | 1,428,238 | ||
MOVIES & ENTERTAINMENT—9.2% | ||||
Netflix, Inc.* | 1,743 | 1,236,258 | ||
Spotify Technology SA* | 2,482 | 914,691 | ||
2,150,949 | ||||
See Notes to Financial Statements.
- 4 -
THE ALGER ETF TRUST | ALGER 35 ETFSchedule of Investments September 30, 2024 (Unaudited) (Continued)
SHARES | VALUE | |||
COMMON STOCKS—95.6% (CONT.) | ||||
PASSENGER GROUND TRANSPORTATION—2.1% | ||||
Uber Technologies, Inc.* | 6,392 | $ 480,423 | ||
PHARMACEUTICALS—1.0% | ||||
Eli Lilly & Co. | 264 | 233,888 | ||
RESTAURANTS—1.5% | ||||
The Cheesecake Factory, Inc. | 8,571 | 347,554 | ||
SEMICONDUCTOR MATERIALS & EQUIPMENT—1.6% | ||||
ASML Holding NV ADR | 439 | 365,797 | ||
SEMICONDUCTORS—16.0% | ||||
Astera Labs, Inc.* | 12,635 | 661,948 | ||
Broadcom, Inc. | 2,015 | 347,587 | ||
NVIDIA Corp. | 17,114 | 2,078,324 | ||
Taiwan Semiconductor Manufacturing Co., Ltd. ADR | 3,749 | 651,089 | ||
3,738,948 | ||||
SYSTEMS SOFTWARE—7.3% | ||||
Microsoft Corp. | 3,950 | 1,699,685 | ||
TECHNOLOGY HARDWARE STORAGE & PERIPHERALS—4.7% | ||||
Apple, Inc. | 4,723 | 1,100,459 | ||
TOTAL COMMON STOCKS (Cost $16,682,692) | 22,375,142 | |||
SHORT-TERM SECURITIES—4.6% | ||||
MONEY MARKET FUNDS—4.6% | ||||
Dreyfus Treasury Obligations Cash Management Fund, Institutional Shares, 4.81%(a) | 1,087,737 | 1,087,737 | ||
(Cost $1,087,737) | 1,087,737 | |||
Total Investments (Cost $17,770,429) | 100.2% | $23,462,879 | ||
Unaffiliated Securities (Cost $17,770,429) | 23,462,879 | |||
Liabilities in Excess of Other Assets | (0.2)% | (45,537) | ||
NET ASSETS | 100.0% | $23,417,342 | ||
ADR | American Depositary Receipts |
(a) | Rate shown reflects 7-day effective yield as of September 30, 2024. |
* | Non-income producing security. |
See Notes to Financial Statements.
- 5 -
THE ALGER ETF TRUST | ALGER MID CAP 40 ETFSchedule of Investments September 30, 2024 (Unaudited)
SHARES | VALUE | |||
COMMON STOCKS—95.6% | ||||
AEROSPACE & DEFENSE—7.2% | ||||
HEICO Corp., Cl. A | 12,457 | $ 2,538,239 | ||
TransDigm Group, Inc. | 964 | 1,375,753 | ||
3,913,992 | ||||
APPAREL RETAIL—2.1% | ||||
Burlington Stores, Inc.* | 4,401 | 1,159,575 | ||
APPLICATION SOFTWARE—18.8% | ||||
AppLovin Corp., Cl. A* | 16,234 | 2,119,349 | ||
Datadog, Inc., Cl. A* | 8,186 | 941,881 | ||
Fair Isaac Corp.* | 851 | 1,653,936 | ||
Guidewire Software, Inc.* | 6,445 | 1,179,048 | ||
Manhattan Associates, Inc.* | 5,145 | 1,447,700 | ||
nCino, Inc.* | 35,397 | 1,118,191 | ||
Palantir Technologies, Inc., Cl. A* | 33,189 | 1,234,631 | ||
Samsara, Inc., Cl. A* | 11,074 | 532,881 | ||
10,227,617 | ||||
ASSET MANAGEMENT & CUSTODY BANKS—2.0% | ||||
Ares Management Corp., Cl. A | 7,014 | 1,093,062 | ||
Blue Owl Capital, Inc., Cl. A | 222 | 4,298 | ||
1,097,360 | ||||
BIOTECHNOLOGY—6.1% | ||||
Natera, Inc.* | 19,677 | 2,497,995 | ||
Vaxcyte, Inc.* | 7,002 | 800,119 | ||
3,298,114 | ||||
BROADLINE RETAIL—2.5% | ||||
JD.com, Inc. ADR | 34,165 | 1,366,600 | ||
BUILDING PRODUCTS—3.4% | ||||
Builders FirstSource, Inc.* | 5,181 | 1,004,389 | ||
The AZEK Co., Inc., Cl. A* | 17,495 | 818,766 | ||
1,823,155 | ||||
CASINOS & GAMING—2.5% | ||||
DraftKings, Inc., Cl. A* | 34,218 | 1,341,345 | ||
CONSTRUCTION & ENGINEERING—2.3% | ||||
Comfort Systems USA, Inc. | 3,266 | 1,274,883 | ||
EDUCATION SERVICES—1.0% | ||||
Duolingo, Inc.* | 1,998 | 563,476 | ||
ELECTRIC UTILITIES—4.6% | ||||
Constellation Energy Corp. | 9,521 | 2,475,650 | ||
ELECTRICAL COMPONENTS & EQUIPMENT—4.0% | ||||
Vertiv Holdings Co., Cl. A | 21,916 | 2,180,423 | ||
See Notes to Financial Statements.
- 6 -
THE ALGER ETF TRUST | ALGER MID CAP 40 ETFSchedule of Investments September 30, 2024 (Unaudited) (Continued)
SHARES | VALUE | |||
COMMON STOCKS—95.6% (CONT.) | ||||
ENVIRONMENTAL & FACILITIES SERVICES—3.5% | ||||
Veralto Corp. | 16,930 | $ 1,893,790 | ||
FINANCIAL EXCHANGES & DATA—2.7% | ||||
Coinbase Global, Inc., Cl. A* | 3,552 | 632,860 | ||
MSCI, Inc., Cl. A | 1,395 | 813,187 | ||
1,446,047 | ||||
FOOTWEAR—1.3% | ||||
On Holding AG, Cl. A* | 14,171 | 710,676 | ||
INDUSTRIAL MACHINERY & SUPPLIES & COMPONENTS—1.9% | ||||
Gates Industrial Corp. PLC* | 59,545 | 1,045,015 | ||
INTERACTIVE HOME ENTERTAINMENT—2.1% | ||||
Roblox Corp., Cl. A* | 25,777 | 1,140,890 | ||
INTERACTIVE MEDIA & SERVICES—1.5% | ||||
Baidu, Inc. ADR* | 7,500 | 789,675 | ||
INVESTMENT BANKING & BROKERAGE—1.4% | ||||
Piper Sandler Cos. | 2,620 | 743,582 | ||
LIFE SCIENCES TOOLS & SERVICES—4.9% | ||||
Illumina, Inc.* | 8,597 | 1,121,135 | ||
Repligen Corp.* | 10,485 | 1,560,377 | ||
2,681,512 | ||||
MOVIES & ENTERTAINMENT—7.6% | ||||
Liberty Media Corp. Series C Liberty Formula One * | 31,875 | 2,468,081 | ||
Spotify Technology SA* | 4,477 | 1,649,909 | ||
4,117,990 | ||||
OTHER SPECIALTY RETAIL—2.1% | ||||
Five Below, Inc.* | 12,981 | 1,146,871 | ||
RESTAURANTS—4.3% | ||||
Cava Group, Inc.* | 7,540 | 933,829 | ||
Shake Shack, Inc., Cl. A* | 13,520 | 1,395,399 | ||
2,329,228 | ||||
SEMICONDUCTORS—5.8% | ||||
Astera Labs, Inc.* | 25,479 | 1,334,845 | ||
Micron Technology, Inc. | 4,028 | 417,744 | ||
Monolithic Power Systems, Inc. | 1,490 | 1,377,505 | ||
3,130,094 | ||||
TOTAL COMMON STOCKS (Cost $42,117,184) | 51,897,560 | |||
See Notes to Financial Statements.
- 7 -
THE ALGER ETF TRUST | ALGER MID CAP 40 ETFSchedule of Investments September 30, 2024 (Unaudited) (Continued)
SHARES | VALUE | |||
SHORT-TERM SECURITIES—8.1% | ||||
MONEY MARKET FUNDS—8.1% | ||||
Dreyfus Treasury Obligations Cash Management Fund, Institutional Shares, 4.81%(a) | 4,365,730 | $ 4,365,730 | ||
(Cost $4,365,730) | 4,365,730 | |||
Total Investments (Cost $46,482,914) | 103.7% | $56,263,290 | ||
Unaffiliated Securities (Cost $46,482,914) | 56,263,290 | |||
Liabilities in Excess of Other Assets | (3.7)% | (1,986,350) | ||
NET ASSETS | 100.0% | $54,276,940 | ||
ADR | American Depositary Receipts |
(a) | Rate shown reflects 7-day effective yield as of September 30, 2024. |
* | Non-income producing security. |
See Notes to Financial Statements.
- 8 -
THE ALGER ETF TRUST | ALGER WEATHERBIE ENDURING GROWTH ETFSchedule of Investments September 30, 2024 (Unaudited)
SHARES | VALUE | |||
COMMON STOCKS—96.7% | ||||
ADVERTISING—1.5% | ||||
The Trade Desk, Inc., Cl. A* | 726 | $ 79,606 | ||
AEROSPACE & DEFENSE—17.2% | ||||
HEICO Corp. | 978 | 255,727 | ||
TransDigm Group, Inc. | 459 | 655,053 | ||
910,780 | ||||
APPLICATION SOFTWARE—10.3% | ||||
Agilysys, Inc.* | 842 | 91,753 | ||
HubSpot, Inc.* | 339 | 180,212 | ||
nCino, Inc.* | 3,761 | 118,810 | ||
SPS Commerce, Inc.* | 792 | 153,783 | ||
544,558 | ||||
ASSET MANAGEMENT & CUSTODY BANKS—7.9% | ||||
Hamilton Lane, Inc., Cl. A | 913 | 153,740 | ||
StepStone Group, Inc., Cl. A | 4,639 | 263,634 | ||
417,374 | ||||
BIOTECHNOLOGY—5.3% | ||||
ACADIA Pharmaceuticals, Inc.* | 9,430 | 145,033 | ||
Natera, Inc.* | 1,065 | 135,202 | ||
280,235 | ||||
BROADLINE RETAIL—3.3% | ||||
Ollie's Bargain Outlet Holdings, Inc.* | 1,800 | 174,960 | ||
CARGO GROUND TRANSPORTATION—5.6% | ||||
RXO, Inc.* | 5,415 | 151,620 | ||
XPO, Inc.* | 1,343 | 144,386 | ||
296,006 | ||||
CONSUMER FINANCE—3.3% | ||||
Upstart Holdings, Inc.* | 4,388 | 175,564 | ||
ENVIRONMENTAL & FACILITIES SERVICES—13.1% | ||||
Casella Waste Systems, Inc., Cl. A* | 3,213 | 319,662 | ||
Montrose Environmental Group, Inc.* | 4,701 | 123,636 | ||
Waste Connections, Inc. | 1,388 | 248,202 | ||
691,500 | ||||
HEALTHCARE EQUIPMENT—9.0% | ||||
Glaukos Corp.* | 1,708 | 222,518 | ||
Tandem Diabetes Care, Inc.* | 5,994 | 254,206 | ||
476,724 | ||||
HEALTHCARE SUPPLIES—3.6% | ||||
Neogen Corp.* | 11,302 | 189,987 | ||
HUMAN RESOURCE & EMPLOYMENT SERVICES—4.1% | ||||
Paylocity Holding Corp.* | 1,310 | 216,111 | ||
See Notes to Financial Statements.
- 9 -
THE ALGER ETF TRUST | ALGER WEATHERBIE ENDURING GROWTH ETFSchedule of Investments September 30, 2024 (Unaudited) (Continued)
SHARES | VALUE | |||
COMMON STOCKS—96.7% (CONT.) | ||||
MANAGED HEALTHCARE—1.8% | ||||
Progyny, Inc.* | 5,557 | $ 93,135 | ||
REAL ESTATE SERVICES—8.5% | ||||
FirstService Corp. | 2,466 | 449,946 | ||
TRADING COMPANIES & DISTRIBUTORS—2.2% | ||||
SiteOne Landscape Supply, Inc.* | 766 | 115,597 | ||
TOTAL COMMON STOCKS (Cost $4,083,489) | 5,112,083 | |||
SHORT-TERM SECURITIES—4.3% | ||||
MONEY MARKET FUNDS—4.3% | ||||
Dreyfus Treasury Obligations Cash Management Fund, Institutional Shares, 4.81%(a) | 228,462 | 228,462 | ||
(Cost $228,462) | 228,462 | |||
Total Investments (Cost $4,311,951) | 101.0% | $5,340,545 | ||
Unaffiliated Securities (Cost $4,311,951) | 5,340,545 | |||
Liabilities in Excess of Other Assets | (1.0)% | (51,057) | ||
NET ASSETS | 100.0% | $5,289,488 | ||
(a) | Rate shown reflects 7-day effective yield as of September 30, 2024. |
* | Non-income producing security. |
See Notes to Financial Statements.
- 10 -
THE ALGER ETF TRUST | ALGER AI ENABLERS & ADOPTERS ETFSchedule of Investments September 30, 2024 (Unaudited)
SHARES | VALUE | |||
COMMON STOCKS—96.9% | ||||
ADVERTISING—0.3% | ||||
The Trade Desk, Inc., Cl. A* | 298 | $ 32,676 | ||
APPLICATION SOFTWARE—5.2% | ||||
Adobe, Inc.* | 226 | 117,018 | ||
AppLovin Corp., Cl. A* | 3,025 | 394,914 | ||
Cadence Design Systems, Inc.* | 203 | 55,019 | ||
HubSpot, Inc.* | 42 | 22,327 | ||
589,278 | ||||
AUTOMOBILE MANUFACTURERS—1.2% | ||||
Tesla, Inc.* | 500 | 130,815 | ||
BIOTECHNOLOGY—0.8% | ||||
Natera, Inc.* | 670 | 85,057 | ||
BROADLINE RETAIL—13.2% | ||||
Alibaba Group Holding Ltd. ADR | 866 | 91,900 | ||
Amazon.com, Inc.* | 4,826 | 899,229 | ||
Coupang, Inc., Cl. A* | 6,399 | 157,095 | ||
Global-e Online Ltd.* | 5,952 | 228,795 | ||
MercadoLibre, Inc.* | 55 | 112,858 | ||
1,489,877 | ||||
CASINOS & GAMING—1.8% | ||||
DraftKings, Inc., Cl. A* | 5,035 | 197,372 | ||
CONSTRUCTION & ENGINEERING—0.3% | ||||
Quanta Services, Inc. | 102 | 30,411 | ||
CONSUMER STAPLES MERCHANDISE RETAIL—0.3% | ||||
Walmart, Inc. | 430 | 34,723 | ||
DIVERSIFIED BANKS—0.1% | ||||
JPMorgan Chase & Co. | 48 | 10,121 | ||
ELECTRIC UTILITIES—2.5% | ||||
Constellation Energy Corp. | 626 | 162,772 | ||
NRG Energy, Inc. | 1,276 | 116,244 | ||
279,016 | ||||
ELECTRICAL COMPONENTS & EQUIPMENT—3.5% | ||||
Eaton Corp. PLC | 292 | 96,781 | ||
Vertiv Holdings Co., Cl. A | 3,043 | 302,748 | ||
399,529 | ||||
ENVIRONMENTAL & FACILITIES SERVICES—3.8% | ||||
GFL Environmental, Inc. | 10,839 | 432,259 | ||
FINANCIAL EXCHANGES & DATA—2.5% | ||||
S&P Global, Inc. | 557 | 287,757 | ||
HEALTHCARE EQUIPMENT—1.2% | ||||
Intuitive Surgical, Inc.* | 281 | 138,047 | ||
See Notes to Financial Statements.
- 11 -
THE ALGER ETF TRUST | ALGER AI ENABLERS & ADOPTERS ETFSchedule of Investments September 30, 2024 (Unaudited) (Continued)
SHARES | VALUE | |||
COMMON STOCKS—96.9% (CONT.) | ||||
INDEPENDENT POWER PRODUCERS & ENERGY TRADERS—1.6% | ||||
Talen Energy Corp.* | 989 | $ 176,279 | ||
INTERACTIVE HOME ENTERTAINMENT—1.0% | ||||
Sea Ltd. ADR* | 1,231 | 116,059 | ||
INTERACTIVE MEDIA & SERVICES—10.6% | ||||
Alphabet, Inc., Cl. C | 1,149 | 192,101 | ||
Meta Platforms, Inc., Cl. A | 1,540 | 881,558 | ||
Pinterest, Inc., Cl. A* | 4,058 | 131,357 | ||
1,205,016 | ||||
INTERNET SERVICES & INFRASTRUCTURE—0.4% | ||||
Shopify, Inc., Cl. A* | 601 | 48,164 | ||
MANAGED HEALTHCARE—0.6% | ||||
UnitedHealth Group, Inc. | 120 | 70,162 | ||
MOVIES & ENTERTAINMENT—2.3% | ||||
Netflix, Inc.* | 203 | 143,982 | ||
Spotify Technology SA* | 313 | 115,350 | ||
259,332 | ||||
PASSENGER GROUND TRANSPORTATION—0.2% | ||||
Uber Technologies, Inc.* | 302 | 22,698 | ||
SEMICONDUCTORS—20.6% | ||||
Advanced Micro Devices, Inc.* | 556 | 91,229 | ||
Astera Labs, Inc.* | 1,539 | 80,628 | ||
Broadcom, Inc. | 3,086 | 532,335 | ||
Marvell Technology, Inc. | 879 | 63,393 | ||
Micron Technology, Inc. | 556 | 57,663 | ||
NVIDIA Corp. | 10,060 | 1,221,686 | ||
Taiwan Semiconductor Manufacturing Co., Ltd. ADR | 1,679 | 291,592 | ||
2,338,526 | ||||
SYSTEMS SOFTWARE—12.0% | ||||
Microsoft Corp. | 3,028 | 1,302,948 | ||
ServiceNow, Inc.* | 63 | 56,347 | ||
1,359,295 | ||||
TECHNOLOGY HARDWARE STORAGE & PERIPHERALS—10.9% | ||||
Apple, Inc. | 4,997 | 1,164,301 | ||
Dell Technologies, Inc., Cl. C | 624 | 73,969 | ||
1,238,270 | ||||
TOTAL COMMON STOCKS (Cost $9,860,661) | 10,970,739 | |||
See Notes to Financial Statements.
- 12 -
THE ALGER ETF TRUST | ALGER AI ENABLERS & ADOPTERS ETFSchedule of Investments September 30, 2024 (Unaudited) (Continued)
SHARES | VALUE | |||
REAL ESTATE INVESTMENT TRUST—1.3% | ||||
DATA CENTER—1.3% | ||||
Equinix, Inc. | 169 | $ 150,009 | ||
(Cost $134,253) | 150,009 | |||
SHORT-TERM SECURITIES—0.8% | ||||
MONEY MARKET FUNDS—0.8% | ||||
Dreyfus Treasury Obligations Cash Management Fund, Institutional Shares, 4.81%(a) | 92,837 | 92,837 | ||
(Cost $92,837) | 92,837 | |||
Total Investments (Cost $10,087,751) | 99.0% | $11,213,585 | ||
Unaffiliated Securities (Cost $10,087,751) | 11,213,585 | |||
Other Assets in Excess of Liabilities | 1.0% | 115,706 | ||
NET ASSETS | 100.0% | $11,329,291 | ||
ADR | American Depositary Receipts |
(a) | Rate shown reflects 7-day effective yield as of September 30, 2024. |
* | Non-income producing security. |
See Notes to Financial Statements.
- 13 -
THE ALGER ETF TRUSTNOTES 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 Mid Cap 40 ETF is a separate diversified series of the Trust, and the Alger Concentrated Equity ETF, the Alger 35 ETF, the Alger Weatherbie Enduring Growth ETF and the Alger AI Enablers & Adopters 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 Concentrated Equity ETF and the Alger AI Enablers & Adopters ETF commenced operations on April 4, 2024.
On May 23, 2023, the Board of Trustees of the Trust (the "Board") approved the transition of the Funds' custodian and administrator from Brown Brothers Harriman & Company to The Bank of New York (collectively, the "Custodian"). This change became effective March 18, 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
- 14 -
THE ALGER ETF TRUSTNOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)
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.
Investments in 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. Investments in other open-end investment companies registered under the 1940 Act are valued at such investment companies' net asset value per share.
Equity securities, including traded rights, warrants and option contracts for which valuation information is readily available, 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
- 15 -
THE ALGER ETF TRUSTNOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)
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.
NOTE 3 — Fair Value Measurements:
The following is a summary of the inputs used as of September 30, 2024 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 Concentrated Equity ETF | TOTAL | LEVEL 1 | LEVEL 2 | LEVEL 3 |
COMMON STOCKS | ||||
Communication Services | $1,443,071 | $1,443,071 | $— | $— |
Consumer Discretionary | 1,364,489 | 1,364,489 | — | — |
Energy | 140,032 | 140,032 | — | — |
Financials | 461,486 | 461,486 | — | — |
Healthcare | 1,095,814 | 1,095,814 | — | — |
Industrials | 1,122,058 | 1,122,058 | — | — |
Information Technology | 5,768,854 | 5,768,854 | — | — |
Utilities | 256,380 | 256,380 | — | — |
TOTAL COMMON STOCKS | $11,652,184 | $11,652,184 | $— | $— |
SHORT-TERM INVESTMENTS | ||||
Money Market Funds | 281,911 | 281,911 | — | — |
TOTAL INVESTMENTS IN SECURITIES | $11,934,095 | $11,934,095 | $— | $— |
Alger 35 ETF | TOTAL | LEVEL 1 | LEVEL 2 | LEVEL 3 |
COMMON STOCKS | ||||
Communication Services | $4,290,813 | $4,290,813 | $— | $— |
Consumer Discretionary | 5,160,779 | 5,160,779 | — | — |
Healthcare | 2,445,725 | 2,445,725 | — | — |
Industrials | 2,507,352 | 2,507,352 | — | — |
Information Technology | 7,255,938 | 7,255,938 | — | — |
Utilities | 714,535 | 714,535 | — | — |
TOTAL COMMON STOCKS | $22,375,142 | $22,375,142 | $— | $— |
SHORT-TERM INVESTMENTS | ||||
Money Market Funds | 1,087,737 | 1,087,737 | — | — |
TOTAL INVESTMENTS IN SECURITIES | $23,462,879 | $23,462,879 | $— | $— |
- 16 -
THE ALGER ETF TRUSTNOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)
Alger Mid Cap 40 ETF | TOTAL | LEVEL 1 | LEVEL 2 | LEVEL 3 |
COMMON STOCKS | ||||
Communication Services | $6,048,555 | $6,048,555 | $— | $— |
Consumer Discretionary | 8,617,771 | 8,617,771 | — | — |
Financials | 3,286,989 | 3,286,989 | — | — |
Healthcare | 5,979,626 | 5,979,626 | — | — |
Industrials | 12,131,258 | 12,131,258 | — | — |
Information Technology | 13,357,711 | 13,357,711 | — | — |
Utilities | 2,475,650 | 2,475,650 | — | — |
TOTAL COMMON STOCKS | $51,897,560 | $51,897,560 | $— | $— |
SHORT-TERM INVESTMENTS | ||||
Money Market Funds | 4,365,730 | 4,365,730 | — | — |
TOTAL INVESTMENTS IN SECURITIES | $56,263,290 | $56,263,290 | $— | $— |
Alger Weatherbie Enduring Growth ETF | TOTAL | LEVEL 1 | LEVEL 2 | LEVEL 3 |
COMMON STOCKS | ||||
Communication Services | $79,606 | $79,606 | $— | $— |
Consumer Discretionary | 174,960 | 174,960 | — | — |
Financials | 592,938 | 592,938 | — | — |
Healthcare | 1,040,081 | 1,040,081 | — | — |
Industrials | 2,229,994 | 2,229,994 | — | — |
Information Technology | 544,558 | 544,558 | — | — |
Real Estate | 449,946 | 449,946 | — | — |
TOTAL COMMON STOCKS | $5,112,083 | $5,112,083 | $— | $— |
SHORT-TERM INVESTMENTS | ||||
Money Market Funds | 228,462 | 228,462 | — | — |
TOTAL INVESTMENTS IN SECURITIES | $5,340,545 | $5,340,545 | $— | $— |
Alger AI Enablers & Adopters ETF | TOTAL | LEVEL 1 | LEVEL 2 | LEVEL 3 |
COMMON STOCKS | ||||
Communication Services | $1,613,083 | $1,613,083 | $— | $— |
Consumer Discretionary | 1,818,064 | 1,818,064 | — | — |
Consumer Staples | 34,723 | 34,723 | — | — |
Financials | 297,878 | 297,878 | — | — |
Healthcare | 293,266 | 293,266 | — | — |
Industrials | 884,897 | 884,897 | — | — |
Information Technology | 5,573,533 | 5,573,533 | — | — |
Utilities | 455,295 | 455,295 | — | — |
TOTAL COMMON STOCKS | $10,970,739 | $10,970,739 | $— | $— |
REAL ESTATE INVESTMENT TRUST | ||||
Real Estate | 150,009 | 150,009 | — | — |
- 17 -