THE ALGER PORTFOLIOS
QUARTERLY REPORT
MARCH 31, 2021
THE ALGER PORTFOLIOS | ALGER CAPITAL APPRECIATION PORTFOLIO |
COMMON STOCKS—99.7% (CONT.) | SHARES | VALUE | ||||||
AEROSPACE & DEFENSE—1.5% | ||||||||
Raytheon Technologies Corp. | 25,416 | $ | 1,963,894 | |||||
TransDigm Group, Inc.* | 12,083 | 7,103,838 | ||||||
9,067,732 | ||||||||
AIR FREIGHT & LOGISTICS—0.5% | ||||||||
XPO Logistics, Inc.* | 27,141 | 3,346,485 | ||||||
APPAREL ACCESSORIES & LUXURY GOODS—1.1% | ||||||||
LVMH Moet Hennessy Louis Vuitton SE | 10,561 | 7,053,936 | ||||||
APPAREL RETAIL—0.6% | ||||||||
The TJX Cos., Inc. | 52,253 | 3,456,536 | ||||||
APPLICATION SOFTWARE—8.6% | ||||||||
Adobe, Inc.* | 44,742 | 21,269,005 | ||||||
Autodesk, Inc.* | 5,214 | 1,445,060 | ||||||
Cadence Design Systems, Inc.* | 27,725 | 3,798,048 | ||||||
Ceridian HCM Holding, Inc.* | 13,442 | 1,132,757 | ||||||
Coupa Software, Inc.* | 1,629 | 414,548 | ||||||
Datadog, Inc., Cl. A* | 10,601 | 883,487 | ||||||
Five9, Inc.* | 7,759 | 1,212,964 | ||||||
Intuit, Inc. | 20,027 | 7,671,543 | ||||||
Nuance Communications, Inc.* | 10,040 | 438,146 | ||||||
RingCentral, Inc., Cl. A* | 17,777 | 5,295,413 | ||||||
salesforce.com, Inc.* | 44,536 | 9,435,842 | ||||||
52,996,813 | ||||||||
AUTOMOBILE MANUFACTURERS—1.5% | ||||||||
Tesla, Inc.* | 13,870 | 9,264,189 | ||||||
AUTOMOTIVE RETAIL—1.0% | ||||||||
Carvana Co., Cl. A* | 12,992 | 3,409,101 | ||||||
Lithia Motors, Inc., Cl. A | 6,852 | 2,672,896 | ||||||
6,081,997 | ||||||||
BIOTECHNOLOGY—0.5% | ||||||||
AbbVie, Inc. | 6,852 | 741,524 | ||||||
Genmab AS#,* | 8,622 | 283,060 | ||||||
Vertex Pharmaceuticals, Inc.* | 9,418 | 2,023,834 | ||||||
3,048,418 | ||||||||
BROADCASTING—0.5% | ||||||||
Discovery, Inc., Cl. A* | 70,047 | 3,044,243 | ||||||
CASINOS & GAMING—2.2% | ||||||||
DraftKings, Inc., Cl. A* | 82,800 | 5,078,124 | ||||||
Flutter Entertainment PLC* | 9,416 | 2,019,727 | ||||||
Las Vegas Sands Corp.* | 55,439 | 3,368,474 | ||||||
MGM Resorts International | 85,088 | 3,232,493 | ||||||
13,698,818 | ||||||||
CONSTRUCTION MACHINERY & HEAVY TRUCKS—0.1% | ||||||||
PACCAR, Inc. | 8,478 | 787,776 | ||||||
DATA PROCESSING & OUTSOURCED SERVICES—9.6% | ||||||||
Fidelity National Information Services, Inc. | 7,006 | 985,113 | ||||||
Fiserv, Inc.* | 88,277 | 10,508,494 | ||||||
PayPal Holdings, Inc.* | 71,308 | 17,316,435 | ||||||
Square, Inc., Cl. A* | 10,197 | 2,315,229 |
- 2 -
THE ALGER PORTFOLIOS | ALGER CAPITAL APPRECIATION PORTFOLIO |
Schedule of Investments March 31, 2021 (Unaudited) (Continued)
COMMON STOCKS—99.7% (CONT.) | SHARES | VALUE |
DATA PROCESSING & OUTSOURCED SERVICES—9.6% (CONT.) | ||||||||
Visa, Inc., Cl. A | 132,470 | $ | 28,047,873 | |||||
59,173,144 |
DIVERSIFIED BANKS—1.1% | ||||||||
Bank of America Corp. | 115,056 | 4,451,517 | ||||||
JPMorgan Chase & Co. | 16,288 | 2,479,522 | ||||||
6,931,039 | ||||||||
DIVERSIFIED SUPPORT SERVICES—0.6% | ||||||||
Cintas Corp. | 10,790 | 3,682,735 | ||||||
ELECTRICAL COMPONENTS & EQUIPMENT—1.1% | ||||||||
AMETEK, Inc. | 22,723 | 2,902,409 | ||||||
Eaton Corp. PLC | 24,665 | 3,410,676 | ||||||
Sunrun, Inc.* | 5,373 | 324,959 | ||||||
6,638,044 | ||||||||
ENVIRONMENTAL & FACILITIES SERVICES—0.2% | ||||||||
Waste Management, Inc. | 8,630 | 1,113,443 | ||||||
FINANCIAL EXCHANGES & DATA—1.9% | ||||||||
CME Group, Inc., Cl. A | 29,243 | 5,972,298 | ||||||
S&P Global, Inc. | 16,249 | 5,733,784 | ||||||
11,706,082 | ||||||||
FOOD DISTRIBUTORS—1.1% | ||||||||
Sysco Corp. | 82,384 | 6,486,916 | ||||||
FOOTWEAR—1.5% | ||||||||
NIKE, Inc., Cl. B | 68,661 | 9,124,360 | ||||||
GENERAL MERCHANDISE STORES—0.2% | ||||||||
Target Corp. | 5,515 | 1,092,356 | ||||||
HEALTHCARE EQUIPMENT—4.0% | ||||||||
Boston Scientific Corp.* | 17,182 | 664,084 | ||||||
Danaher Corp. | 51,023 | 11,484,257 | ||||||
Dexcom, Inc.* | 5,529 | 1,987,067 | ||||||
Intuitive Surgical, Inc.* | 3,773 | 2,788,021 | ||||||
Medtronic PLC | 63,683 | 7,522,873 | ||||||
24,446,302 | ||||||||
HEALTHCARE SERVICES—0.5% | ||||||||
Guardant Health, Inc.* | 18,115 | 2,765,255 | ||||||
HEALTHCARE SUPPLIES—0.7% | ||||||||
Align Technology, Inc.* | 8,345 | 4,519,068 | ||||||
HOME IMPROVEMENT RETAIL—0.4% | ||||||||
Lowe's Cos., Inc. | 13,617 | 2,589,681 | ||||||
INDUSTRIAL GASES—0.6% | ||||||||
Air Products & Chemicals, Inc. | 12,749 | 3,586,804 | ||||||
INTERACTIVE MEDIA & SERVICES—9.7% | ||||||||
Alphabet, Inc., Cl. C* | 13,605 | 28,143,711 | ||||||
Facebook, Inc., Cl. A* | 68,883 | 20,288,110 | ||||||
Pinterest, Inc., Cl. A* | 113,713 | 8,418,173 | ||||||
Snap, Inc., Cl. A* | 54,233 | 2,835,844 | ||||||
59,685,838 | ||||||||
INTERNET & DIRECT MARKETING RETAIL—9.3% | ||||||||
Amazon.com, Inc.* | 15,519 | 48,017,027 |
- 3 -
THE ALGER PORTFOLIOS | ALGER CAPITAL APPRECIATION PORTFOLIO |
Schedule of Investments March 31, 2021 (Unaudited) (Continued)
COMMON STOCKS—99.7% (CONT.) | SHARES | VALUE | ||||||
INTERNET & DIRECT MARKETING RETAIL—9.3% (CONT.) | ||||||||
Booking Holdings, Inc.* | 1,975 | $ | 4,601,434 | |||||
Expedia Group, Inc.* | 13,790 | 2,373,535 | ||||||
MercadoLibre, Inc.* | 1,477 | 2,174,351 | ||||||
57,166,347 | ||||||||
INTERNET SERVICES & INFRASTRUCTURE—1.9% | ||||||||
Shopify, Inc., Cl. A* | 3,340 | 3,695,710 | ||||||
Snowflake, Inc., Cl. A* | 8,138 | 1,865,881 | ||||||
Twilio, Inc., Cl. A* | 17,544 | 5,978,293 | ||||||
11,539,884 | ||||||||
INVESTMENT BANKING & BROKERAGE—0.9% | ||||||||
Morgan Stanley | 74,486 | 5,784,583 | ||||||
MANAGED HEALTHCARE—1.2% | ||||||||
UnitedHealth Group, Inc. | 20,437 | 7,603,995 | ||||||
MOVIES & ENTERTAINMENT—1.7% | ||||||||
Live Nation Entertainment, Inc.* | 37,870 | 3,205,696 | ||||||
Netflix, Inc.* | 10,727 | 5,595,847 | ||||||
The Walt Disney Co.* | 8,618 | 1,590,193 | ||||||
10,391,736 | ||||||||
PHARMACEUTICALS—0.4% | ||||||||
Horizon Therapeutics PLC* | 27,317 | 2,514,257 | ||||||
RAILROADS—0.9% | ||||||||
Union Pacific Corp. | 26,483 | 5,837,118 | ||||||
REGIONAL BANKS—0.8% | ||||||||
Signature Bank | 20,963 | 4,739,734 | ||||||
RESEARCH & CONSULTING SERVICES—0.5% | ||||||||
CoStar Group, Inc.* | 3,847 | 3,161,811 | ||||||
RESTAURANTS—2.1% | ||||||||
Chipotle Mexican Grill, Inc., Cl. A* | 3,352 | 4,762,589 | ||||||
Starbucks Corp. | 74,130 | 8,100,185 | ||||||
12,862,774 | ||||||||
SEMICONDUCTOR EQUIPMENT—2.5% | ||||||||
Applied Materials, Inc. | 109,819 | 14,671,818 | ||||||
Enphase Energy, Inc.* | 6,156 | 998,257 | ||||||
15,670,075 | ||||||||
SEMICONDUCTORS—8.1% | ||||||||
Advanced Micro Devices, Inc.* | 60,089 | 4,716,986 | ||||||
Microchip Technology, Inc. | 21,733 | 3,373,396 | ||||||
Micron Technology, Inc.* | 76,531 | 6,750,800 | ||||||
NVIDIA Corp. | 16,733 | 8,934,251 | ||||||
NXP Semiconductors NV | 34,135 | 6,872,741 | ||||||
QUALCOMM, Inc. | 74,349 | 9,857,934 | ||||||
Taiwan Semiconductor Manufacturing Co., Ltd.# | 81,141 | 9,597,357 | ||||||
50,103,465 | ||||||||
SPECIALTY CHEMICALS—0.8% | ||||||||
The Sherwin-Williams Co. | 6,524 | 4,814,777 | ||||||
SYSTEMS SOFTWARE—9.9% | ||||||||
Crowdstrike Holdings, Inc., Cl. A* | 8,297 | 1,514,285 | ||||||
Microsoft Corp. | 238,324 | 56,189,650 |
- 4 -
THE ALGER PORTFOLIOS | ALGER CAPITAL APPRECIATION PORTFOLIO |
Schedule of Investments March 31, 2021 (Unaudited) (Continued)
COMMON STOCKS—99.7% (CONT.) | SHARES | VALUE | ||||||
SYSTEMS SOFTWARE—9.9% (CONT.) | ||||||||
Palo Alto Networks, Inc.* | 1,663 | $ | 535,586 | |||||
ServiceNow, Inc.* | 6,181 | 3,091,180 | ||||||
61,330,701 | ||||||||
TECHNOLOGY HARDWARE STORAGE & PERIPHERALS—5.5% | ||||||||
Apple, Inc. | 279,097 | 34,091,698 | ||||||
TRUCKING—0.6% | ||||||||
Uber Technologies, Inc.* | 68,624 | 3,740,694 | ||||||
WIRELESS TELECOMMUNICATION SERVICES—1.3% | ||||||||
T-Mobile US, Inc.* | 64,450 | 8,074,940 | ||||||
TOTAL COMMON STOCKS | ||||||||
(Cost $377,836,107) | 614,816,599 | |||||||
REAL ESTATE INVESTMENT TRUST—0.3% | SHARES | VALUE | ||||||
RETAIL—0.3% | ||||||||
Simon Property Group, Inc. | 17,363 | 1,975,389 | ||||||
(Cost $1,619,977) | 1,975,389 | |||||||
SPECIAL PURPOSE VEHICLE—0.1% | SHARES | VALUE | ||||||
DATA PROCESSING & OUTSOURCED SERVICES—0.1% | ||||||||
Crosslink Ventures Capital LLC, Cl. A*,@,(a),(b) | 19 | 475,000 | ||||||
(Cost $475,000) | 475,000 | |||||||
Total Investments | ||||||||
(Cost $379,931,084) | 100.1 | % | $ | 617,266,988 | ||||
Affiliated Securities (Cost $475,000) | 475,000 | |||||||
Unaffiliated Securities (Cost $379,456,084) | 616,791,988 | |||||||
Liabilities in Excess of Other Assets | (0.1 | )% | (758,172 | ) | ||||
NET ASSETS | 100.0 | % | $ | 616,508,816 |
# | American Depositary Receipts. |
* | Non-income producing security. |
(a) | Security is valued in good faith at fair value determined using significant unobservable inputs pursuant to procedures established by the Board. |
(b) | Deemed an affiliate of the Portfolio in accordance with Section 2(a)(3) of the Investment Company Act of 1940. See Note 5 - Affiliated Securities. |
@ | Restricted security - Investment in security not registered under the Securities Act of 1933. Sales or transfers of the investment may be restricted only to qualified buyers. |
Security | Acquisition Date(s) | Acquisition Cost | % of net assets (Acquisition Date) | Market Value | % of net assets as of 3/31/2021 | |||||||||||||
Crosslink Ventures Capital LLC, Cl. A | 10/2/20 | $ | 475,000 | 0.08 | % | $ | 475,000 | 0.08 | % | |||||||||
Total | $ | 475,000 | 0.08 | % |
See Notes to Financial Statements.
- 5 -
THE ALGER PORTFOLIOS | ALGER LARGE CAP GROWTH PORTFOLIO |
Schedule of Investments March 31, 2021 (Unaudited)
COMMON STOCKS—96.6% | SHARES | VALUE | ||||||
AEROSPACE & DEFENSE—3.0% | ||||||||
HEICO Corp. | 78,722 | $ | 9,903,228 | |||||
Teledyne Technologies, Inc.* | 5,720 | 2,366,078 | ||||||
12,269,306 | ||||||||
APPLICATION SOFTWARE—5.7% | ||||||||
Adobe, Inc.* | 27,629 | 13,133,998 | ||||||
Bill.com Holdings, Inc.* | 5,464 | 795,012 | ||||||
Coupa Software, Inc.* | 7,401 | 1,883,406 | ||||||
Datadog, Inc., Cl. A* | 40,500 | 3,375,270 | ||||||
DocuSign, Inc., Cl. A* | 4,744 | 960,423 | ||||||
Paycom Software, Inc.* | 8,168 | 3,022,650 | ||||||
23,170,759 | ||||||||
AUTOMOBILE MANUFACTURERS—2.6% | ||||||||
Tesla, Inc.* | 16,024 | 10,702,910 | ||||||
BIOTECHNOLOGY—0.9% | ||||||||
Natera, Inc.* | 34,857 | 3,539,380 | ||||||
BROADCASTING—1.1% | ||||||||
Discovery, Inc., Cl. A* | 105,237 | 4,573,600 | ||||||
CASINOS & GAMING—3.4% | ||||||||
DraftKings, Inc., Cl. A* | 62,208 | 3,815,217 | ||||||
MGM Resorts International | 209,320 | 7,952,067 | ||||||
Penn National Gaming, Inc.* | 18,372 | 1,926,120 | ||||||
13,693,404 | ||||||||
DATA PROCESSING & OUTSOURCED SERVICES—8.7% | ||||||||
PayPal Holdings, Inc.* | 54,481 | 13,230,166 | ||||||
Square, Inc., Cl. A* | 46,420 | 10,539,661 | ||||||
Visa, Inc., Cl. A | 56,040 | 11,865,349 | ||||||
35,635,176 | ||||||||
DIVERSIFIED BANKS—0.5% | ||||||||
Wells Fargo & Co. | 52,802 | 2,062,974 | ||||||
DIVERSIFIED SUPPORT SERVICES—0.7% | ||||||||
Cintas Corp. | 8,905 | 3,039,366 | ||||||
FINANCIAL EXCHANGES & DATA—0.2% | ||||||||
MarketAxess Holdings, Inc. | 1,988 | 989,865 | ||||||
FOOD DISTRIBUTORS—2.0% | ||||||||
US Foods Holding Corp.* | 208,901 | 7,963,306 | ||||||
FOOTWEAR—0.7% | ||||||||
NIKE, Inc., Cl. B | 21,582 | 2,868,032 | ||||||
HEALTHCARE EQUIPMENT—5.2% | ||||||||
Danaher Corp. | 4,805 | 1,081,509 | ||||||
Dexcom, Inc.* | 14,217 | 5,109,448 | ||||||
Insulet Corp.* | 11,624 | 3,032,934 | ||||||
Intuitive Surgical, Inc.* | 15,948 | 11,784,615 | ||||||
21,008,506 | ||||||||
HEALTHCARE SERVICES—1.3% | ||||||||
Guardant Health, Inc.* | 35,828 | 5,469,144 | ||||||
HEALTHCARE TECHNOLOGY—1.3% | ||||||||
Veeva Systems, Inc., Cl. A* | 20,007 | 5,226,629 |
- 6 -
THE ALGER PORTFOLIOS | ALGER LARGE CAP GROWTH PORTFOLIO |
Schedule of Investments March 31, 2021 (Unaudited) (Continued)
COMMON STOCKS—96.6% (CONT.) | SHARES | VALUE | ||||||
INTERACTIVE MEDIA & SERVICES—9.7% | ||||||||
Alphabet, Inc., Cl. C* | 11,698 | $ | 24,198,834 | |||||
Pinterest, Inc., Cl. A* | 210,379 | 15,574,357 | ||||||
39,773,191 | ||||||||
INTERNET & DIRECT MARKETING RETAIL—7.9% | ||||||||
Amazon.com, Inc.* | 7,847 | 24,279,246 | ||||||
MercadoLibre, Inc.* | 5,275 | 7,765,538 | ||||||
32,044,784 | ||||||||
INTERNET SERVICES & INFRASTRUCTURE—4.0% | ||||||||
Shopify, Inc., Cl. A* | 14,879 | 16,463,614 | ||||||
LEISURE FACILITIES—0.8% | ||||||||
Vail Resorts, Inc.* | 10,467 | 3,052,805 | ||||||
LIFE SCIENCES TOOLS & SERVICES—2.8% | ||||||||
10X Genomics, Inc., Cl. A* | 11,779 | 2,131,999 | ||||||
Bio-Techne Corp. | 24,111 | 9,208,714 | ||||||
11,340,713 | ||||||||
MOVIES & ENTERTAINMENT—2.2% | ||||||||
Netflix, Inc.* | 3,139 | 1,637,491 | ||||||
Roku, Inc., Cl. A* | 22,984 | 7,487,497 | ||||||
9,124,988 | ||||||||
MUTUAL FUNDS—3.4% | ||||||||
Alger 25 Fund, Cl. P(a) | 777,611 | 14,012,559 | ||||||
PHARMACEUTICALS—0.5% | ||||||||
Catalent, Inc.* | 19,550 | 2,058,810 | ||||||
REGIONAL BANKS—0.5% | ||||||||
Signature Bank | 8,485 | 1,918,459 | ||||||
RESEARCH & CONSULTING SERVICES—1.5% | ||||||||
CoStar Group, Inc.* | 7,467 | 6,137,053 | ||||||
RESTAURANTS—0.9% | ||||||||
Starbucks Corp. | 33,134 | 3,620,552 | ||||||
SEMICONDUCTOR EQUIPMENT—7.8% | ||||||||
Applied Materials, Inc. | 123,785 | 16,537,676 | ||||||
Enphase Energy, Inc.* | 11,974 | 1,941,704 | ||||||
Lam Research Corp. | 22,469 | 13,374,447 | ||||||
31,853,827 | ||||||||
SEMICONDUCTORS—6.1% | ||||||||
Advanced Micro Devices, Inc.* | 39,199 | 3,077,122 | ||||||
Micron Technology, Inc.* | 37,649 | 3,321,018 | ||||||
NVIDIA Corp. | 5,934 | 3,168,341 | ||||||
QUALCOMM, Inc. | 63,365 | 8,401,565 | ||||||
Taiwan Semiconductor Manufacturing Co., Ltd.# | 39,340 | 4,653,135 | ||||||
Universal Display Corp. | 9,057 | 2,144,426 | ||||||
24,765,607 | ||||||||
SYSTEMS SOFTWARE—7.2% | ||||||||
Crowdstrike Holdings, Inc., Cl. A* | 25,995 | 4,744,347 | ||||||
Microsoft Corp. | 87,440 | 20,615,729 | ||||||
ServiceNow, Inc.* | 8,396 | 4,198,924 | ||||||
29,559,000 |
- 7 -
THE ALGER PORTFOLIOS | ALGER LARGE CAP GROWTH PORTFOLIO |
Schedule of Investments March 31, 2021 (Unaudited) (Continued)
COMMON STOCKS—96.6% (CONT.) | SHARES | VALUE | ||||||
TECHNOLOGY HARDWARE STORAGE & PERIPHERALS—4.0% | ||||||||
Apple, Inc. | 134,515 | $ | 16,431,007 | |||||
TOTAL COMMON STOCKS | ||||||||
(Cost $286,890,866) | 394,369,326 | |||||||
REAL ESTATE INVESTMENT TRUST—2.2% | SHARES | VALUE | ||||||
SPECIALIZED—2.2% | ||||||||
Crown Castle International Corp. | 51,637 | 8,888,277 | ||||||
(Cost $8,333,838) | 8,888,277 | |||||||
SPECIAL PURPOSE VEHICLE—0.5% | SHARES | VALUE | ||||||
DATA PROCESSING & OUTSOURCED SERVICES—0.5% | ||||||||
Crosslink Ventures Capital LLC, Cl. A*,@,(a),(b) | 76 | 1,900,000 | ||||||
(Cost $1,900,000) | 1,900,000 | |||||||
Total Investments | ||||||||
(Cost $297,124,704) | 99.3 | % | $ | 405,157,603 | ||||
Affiliated Securities (Cost $10,388,238) | 15,912,559 | |||||||
Unaffiliated Securities (Cost $286,736,466) | 389,245,044 | |||||||
Other Assets in Excess of Liabilities | 0.7 | % | 3,058,785 | |||||
NET ASSETS | 100.0 | % | $ | 408,216,388 |
(a) | Deemed an affiliate of the Portfolio in accordance with Section 2(a)(3) of the Investment Company Act of 1940. See Note 5 - Affiliated Securities. |
(b) | Security is valued in good faith at fair value determined using significant unobservable inputs pursuant to procedures established by the Board. |
# | American Depositary Receipts. |
* | Non-income producing security. |
@ | Restricted security - Investment in security not registered under the Securities Act of 1933. Sales or transfers of the investment may be restricted only to qualified buyers. |
Security | Acquisition Date(s) | Acquisition Cost | % of net assets (Acquisition Date) | Market Value | % of net assets as of 3/31/2021 | |||||||||||||
Crosslink Ventures Capital LLC, Cl. A | 10/2/20 | $ | 1,900,000 | 0.51 | % | $ | 1,900,000 | 0.47 | % | |||||||||
Total | $ | 1,900,000 | 0.47 | % |
See Notes to Financial Statements.
- 8 -
THE ALGER PORTFOLIOS | ALGER GROWTH & INCOME PORTFOLIO |
Schedule of Investments March 31, 2021 (Unaudited)
COMMON STOCKS—94.3% | SHARES | VALUE | ||||||
AEROSPACE & DEFENSE—1.6% | ||||||||
General Dynamics Corp. | 1,120 | $ | 203,347 | |||||
Raytheon Technologies Corp. | 2,460 | 190,084 | ||||||
TransDigm Group, Inc.* | 291 | 171,085 | ||||||
564,516 | ||||||||
ASSET MANAGEMENT & CUSTODY BANKS—3.9% | ||||||||
BlackRock, Inc., Cl. A | 935 | 704,952 | ||||||
The Blackstone Group, Inc. | 6,009 | 447,851 | ||||||
The Carlyle Group, Inc. | 6,313 | 232,066 | ||||||
1,384,869 | ||||||||
BIOTECHNOLOGY—2.7% | ||||||||
AbbVie, Inc. | 4,898 | 530,061 | ||||||
Amgen, Inc. | 1,086 | 270,208 | ||||||
Gilead Sciences, Inc. | 2,344 | 151,493 | ||||||
951,762 | ||||||||
BROADCASTING—0.2% | ||||||||
ViacomCBS, Inc., Cl. B | 1,856 | 83,706 | ||||||
BUILDING PRODUCTS—0.6% | ||||||||
Johnson Controls International PLC | 3,745 | 223,464 | ||||||
CABLE & SATELLITE—1.5% | ||||||||
Comcast Corp., Cl. A | 10,027 | 542,561 | ||||||
COMMODITY CHEMICALS—0.4% | ||||||||
Dow, Inc. | 2,306 | 147,446 | ||||||
COMMUNICATIONS EQUIPMENT—1.2% | ||||||||
Cisco Systems, Inc. | 8,587 | 444,034 | ||||||
CONSTRUCTION MACHINERY & HEAVY TRUCKS—0.2% | ||||||||
PACCAR, Inc. | 892 | 82,885 | ||||||
CONSUMER ELECTRONICS—0.6% | ||||||||
Garmin Ltd. | 1,756 | 231,529 | ||||||
DATA PROCESSING & OUTSOURCED SERVICES—1.3% | ||||||||
Visa, Inc., Cl. A | 2,150 | 455,219 | ||||||
DIVERSIFIED BANKS—6.0% | ||||||||
Bank of America Corp. | 14,074 | 544,523 | ||||||
JPMorgan Chase & Co. | 10,579 | 1,610,441 | ||||||
2,154,964 | ||||||||
ELECTRIC UTILITIES—0.7% | ||||||||
NextEra Energy, Inc. | 3,539 | 267,584 | ||||||
ELECTRICAL COMPONENTS & EQUIPMENT—1.0% | ||||||||
Eaton Corp. PLC | 2,530 | 349,848 | ||||||
FINANCIAL EXCHANGES & DATA—1.3% | ||||||||
CME Group, Inc., Cl. A | 2,226 | 454,616 | ||||||
FOOD DISTRIBUTORS—0.7% | ||||||||
Sysco Corp. | 3,019 | 237,716 | ||||||
HEALTHCARE EQUIPMENT—0.9% | ||||||||
Medtronic PLC | 2,707 | 319,778 | ||||||
HEALTHCARE SERVICES—1.1% | ||||||||
CVS Health Corp. | 5,321 | 400,299 | ||||||
HOME IMPROVEMENT RETAIL—3.3% | ||||||||
The Home Depot, Inc. | 3,884 | 1,185,591 |
- 9 -
THE ALGER PORTFOLIOS | ALGER GROWTH & INCOME PORTFOLIO |
Schedule of Investments March 31, 2021 (Unaudited) (Continued)
COMMON STOCKS—94.3% (CONT.) | SHARES | VALUE | ||||||
HOUSEHOLD PRODUCTS—1.7% | ||||||||
The Procter & Gamble Co. | 4,422 | $ | 598,871 | |||||
HYPERMARKETS & SUPER CENTERS—0.9% | ||||||||
Walmart, Inc. | 2,250 | 305,617 | ||||||
INDUSTRIAL CONGLOMERATES—2.3% | ||||||||
Honeywell International, Inc. | 3,763 | 816,834 | ||||||
INDUSTRIAL GASES—1.3% | ||||||||
Air Products & Chemicals, Inc. | 1,614 | 454,083 | ||||||
INTEGRATED OIL & GAS—2.4% | ||||||||
Chevron Corp. | 4,105 | 430,163 | ||||||
Exxon Mobil Corp. | 3,683 | 205,622 | ||||||
TOTAL SE# | 5,177 | 240,937 | ||||||
876,722 | ||||||||
INTEGRATED TELECOMMUNICATION SERVICES—2.4% | ||||||||
AT&T, Inc. | 8,511 | 257,628 | ||||||
Verizon Communications, Inc. | 10,187 | 592,374 | ||||||
850,002 | ||||||||
INTERACTIVE MEDIA & SERVICES—8.5% | ||||||||
Alphabet, Inc., Cl. A* | 543 | 1,119,948 | ||||||
Alphabet, Inc., Cl. C* | 528 | 1,092,237 | ||||||
Facebook, Inc., Cl. A* | 2,851 | 839,705 | ||||||
3,051,890 | ||||||||
INTERNET & DIRECT MARKETING RETAIL—2.3% | ||||||||
Amazon.com, Inc.* | 269 | 832,308 | ||||||
INVESTMENT BANKING & BROKERAGE—2.7% | ||||||||
Morgan Stanley | 12,405 | 963,372 | ||||||
MANAGED HEALTHCARE—2.3% | ||||||||
UnitedHealth Group, Inc. | 2,184 | 812,601 | ||||||
MULTI-LINE INSURANCE—0.5% | ||||||||
The Hartford Financial Services Group, Inc. | 2,744 | 183,272 | ||||||
MULTI-UTILITIES—0.5% | ||||||||
Sempra Energy | 1,469 | 194,760 | ||||||
OIL & GAS STORAGE & TRANSPORTATION—0.4% | ||||||||
ONEOK, Inc. | 2,777 | 140,683 | ||||||
PHARMACEUTICALS—6.5% | ||||||||
AstraZeneca PLC#,(a) | 4,014 | 199,576 | ||||||
Bristol-Myers Squibb Co. | 3,721 | 234,907 | ||||||
Eli Lilly & Co. | 1,471 | 274,812 | ||||||
GlaxoSmithKline PLC# | 5,249 | 187,337 | ||||||
Johnson & Johnson | 4,411 | 724,948 | ||||||
Merck & Co., Inc. | 2,917 | 224,871 | ||||||
Novartis AG# | 2,256 | 192,843 | ||||||
Pfizer, Inc. | 7,432 | 269,261 | ||||||
2,308,555 | ||||||||
PROPERTY & CASUALTY INSURANCE—0.5% | ||||||||
The Progressive Corp. | 1,775 | 169,708 | ||||||
RAILROADS—0.8% | ||||||||
Union Pacific Corp. | 1,322 | 291,382 |
- 10 -
THE ALGER PORTFOLIOS | ALGER GROWTH & INCOME PORTFOLIO |
Schedule of Investments March 31, 2021 (Unaudited) (Continued)
COMMON STOCKS—94.3% (CONT.) | SHARES | VALUE | ||||||
RESTAURANTS—1.4% | ||||||||
McDonald's Corp. | 1,220 | $ | 273,451 | |||||
Starbucks Corp. | 2,025 | 221,272 | ||||||
494,723 | ||||||||
SEMICONDUCTOR EQUIPMENT—2.3% | ||||||||
KLA Corp. | 2,545 | 840,868 | ||||||
SEMICONDUCTORS—4.5% | ||||||||
Broadcom, Inc. | 1,600 | 741,856 | ||||||
QUALCOMM, Inc. | 3,978 | 527,443 | ||||||
Taiwan Semiconductor Manufacturing Co., Ltd.# | 2,795 | 330,593 | ||||||
1,599,892 | ||||||||
SOFT DRINKS—2.7% | ||||||||
PepsiCo, Inc. | 3,644 | 515,444 | ||||||
The Coca-Cola Co. | 8,238 | 434,225 | ||||||
949,669 | ||||||||
SYSTEMS SOFTWARE—9.0% | ||||||||
Microsoft Corp. | 13,607 | 3,208,122 | ||||||
TECHNOLOGY HARDWARE STORAGE & PERIPHERALS—7.7% | ||||||||
Apple, Inc. | 22,504 | 2,748,864 | ||||||
TOBACCO—1.5% | ||||||||
Altria Group, Inc. | 7,418 | 379,505 | ||||||
Philip Morris International, Inc. | 1,906 | 169,138 | ||||||
548,643 | ||||||||
TOTAL COMMON STOCKS | ||||||||
(Cost $13,267,954) | 33,723,828 | |||||||
MASTER LIMITED PARTNERSHIP—0.5% | SHARES | VALUE | ||||||
OIL & GAS STORAGE & TRANSPORTATION—0.5% | ||||||||
Cheniere Energy Partners LP | 4,620 | 191,961 | ||||||
(Cost $152,935) | 191,961 | |||||||
REAL ESTATE INVESTMENT TRUST—5.2% | SHARES | VALUE | ||||||
HEALTHCARE—0.6% | ||||||||
Welltower, Inc. | 2,809 | 201,209 | ||||||
INDUSTRIAL—0.6% | ||||||||
Americold Realty Trust | 5,226 | 201,044 | ||||||
MORTGAGE—0.8% | ||||||||
Blackstone Mortgage Trust, Inc., Cl. A | 9,401 | 291,431 | ||||||
RETAIL—0.7% | ||||||||
Simon Property Group, Inc. | 2,280 | 259,395 | ||||||
SPECIALIZED—2.5% | ||||||||
Crown Castle International Corp. | 3,024 | 520,521 | ||||||
CyrusOne, Inc. | 2,633 | 178,307 | ||||||
Lamar Advertising Co., Cl. A | 2,090 | 196,293 | ||||||
895,121 | ||||||||
TOTAL REAL ESTATE INVESTMENT TRUST | ||||||||
(Cost $1,294,114) | 1,848,200 |
- 11 -
THE ALGER PORTFOLIOS | ALGER GROWTH & INCOME PORTFOLIO |
Schedule of Investments March 31, 2021 (Unaudited) (Continued)
SHORT—TERM INVESTMENTS—0.6% | SHARES | VALUE | ||||||
MONEY MARKET FUND—0.6% | ||||||||
Invesco Government & Agency Portfolio, Cl. Institutional, 0.10% | 204,000 | $ | 204,000 | |||||
(Cost $204,000) | 204,000 | |||||||
Total Investments | ||||||||
(Cost $14,919,003) | 100.6 | % | $ | 35,967,989 | ||||
Unaffiliated Securities (Cost $14,919,003) | 35,967,989 | |||||||
Liabilities in Excess of Other Assets | (0.6 | )% | (204,629 | ) | ||||
NET ASSETS | 100.0 | % | $ | 35,763,360 |
# | American Depositary Receipts. |
(a) | All or portion of the security is on loan. |
* | Non-income producing security. |
See Notes to Financial Statements.
- 12 -
THE ALGER PORTFOLIOS | ALGER MID CAP GROWTH PORTFOLIO |
Schedule of Investments March 31, 2021 (Unaudited)
COMMON STOCKS—92.5% | SHARES | VALUE | ||||||
AEROSPACE & DEFENSE—1.7% | ||||||||
HEICO Corp. | 27,619 | $ | 3,474,470 | |||||
AIR FREIGHT & LOGISTICS—0.7% | ||||||||
XPO Logistics, Inc.* | 12,240 | 1,509,192 | ||||||
APPAREL ACCESSORIES & LUXURY GOODS—3.0% | ||||||||
Capri Holdings Ltd.* | 56,987 | 2,906,337 | ||||||
Lululemon Athletica, Inc.* | 5,715 | 1,752,848 | ||||||
Moncler SpA* | 26,034 | 1,490,872 | ||||||
6,150,057 | ||||||||
APPAREL RETAIL—0.6% | ||||||||
Burlington Stores, Inc.* | 4,340 | 1,296,792 | ||||||
APPLICATION SOFTWARE—14.4% | ||||||||
ANSYS, Inc.* | 6,578 | 2,233,626 | ||||||
Atlassian Corp. PLC, Cl. A* | 4,411 | 929,662 | ||||||
Avalara, Inc.* | 14,347 | 1,914,320 | ||||||
Bill.com Holdings, Inc.* | 2,745 | 399,397 | ||||||
Cadence Design Systems, Inc.* | 11,724 | 1,606,071 | ||||||
Ceridian HCM Holding, Inc.* | 15,805 | 1,331,887 | ||||||
Coupa Software, Inc.* | 2,663 | 677,680 | ||||||
Datadog, Inc., Cl. A* | 22,924 | 1,910,486 | ||||||
Digital Turbine, Inc.* | 11,123 | 893,844 | ||||||
DocuSign, Inc., Cl. A* | 15,308 | 3,099,105 | ||||||
Dynatrace, Inc.* | 31,494 | 1,519,271 | ||||||
Fair Isaac Corp.* | 3,516 | 1,708,952 | ||||||
Five9, Inc.* | 17,169 | 2,684,030 | ||||||
MicroStrategy, Inc., Cl. A* | 941 | 638,751 | ||||||
Paycom Software, Inc.* | 6,804 | 2,517,888 | ||||||
PTC, Inc.* | 21,498 | 2,959,200 | ||||||
Sprout Social, Inc., Cl. A* | 16,304 | 941,719 | ||||||
The Trade Desk, Inc., Cl. A* | 970 | 632,110 | ||||||
Zendesk, Inc.* | 5,908 | 783,519 | ||||||
29,381,518 | ||||||||
ASSET MANAGEMENT & CUSTODY BANKS—1.3% | ||||||||
Silver Spike Acquisition Corp., Cl. A* | 62,499 | 1,147,482 | ||||||
Soaring Eagle Acquisition Corp.* | 156,705 | 1,585,854 | ||||||
2,733,336 | ||||||||
AUTOMOTIVE RETAIL—0.7% | ||||||||
Carvana Co., Cl. A* | 5,623 | 1,475,475 | ||||||
BIOTECHNOLOGY—3.7% | ||||||||
DermTech, Inc.* | 15,908 | 807,967 | ||||||
Exact Sciences Corp.* | 7,514 | 990,195 | ||||||
Forte Biosciences, Inc.* | 68,319 | 2,341,292 | ||||||
Invitae Corp.* | 24,517 | 936,795 | ||||||
Natera, Inc.* | 24,962 | 2,534,642 | ||||||
7,610,891 | ||||||||
BROADCASTING—0.9% | ||||||||
Discovery, Inc., Cl. A* | 43,565 | 1,893,335 | ||||||
CASINOS & GAMING—4.2% | ||||||||
DraftKings, Inc., Cl. A* | 38,099 | 2,336,612 |
- 13 -
THE ALGER PORTFOLIOS | ALGER MID CAP GROWTH PORTFOLIO |
Schedule of Investments March 31, 2021 (Unaudited) (Continued)
COMMON STOCKS—92.5% (CONT.) | SHARES | VALUE | ||||||
CASINOS & GAMING—4.2% (CONT.) | ||||||||
Flutter Entertainment PLC* | 10,850 | $ | 2,327,319 | |||||
MGM Resorts International | 52,806 | 2,006,100 | ||||||
Penn National Gaming, Inc.* | 18,599 | 1,949,919 | ||||||
8,619,950 | ||||||||
CONSUMER FINANCE—1.2% | ||||||||
dMY Technology Group, Inc. II, Cl. A* | 163,561 | 2,405,982 | ||||||
DATA PROCESSING & OUTSOURCED SERVICES—1.5% | ||||||||
Square, Inc., Cl. A* | 13,718 | 3,114,672 | ||||||
DIVERSIFIED SUPPORT SERVICES—2.0% | ||||||||
Cintas Corp. | 5,719 | 1,951,952 | ||||||
Copart, Inc.* | 18,905 | 2,053,272 | ||||||
4,005,224 | ||||||||
EDUCATION SERVICES—0.5% | ||||||||
Chegg, Inc.* | 12,447 | 1,066,210 | ||||||
ELECTRICAL COMPONENTS & EQUIPMENT—2.1% | ||||||||
AMETEK, Inc. | 19,944 | 2,547,447 | ||||||
Generac Holdings, Inc.* | 5,485 | 1,796,063 | ||||||
4,343,510 | ||||||||
ELECTRONIC EQUIPMENT & INSTRUMENTS—1.4% | ||||||||
Trimble, Inc.* | 35,721 | 2,778,737 | ||||||
EXCHANGE TRADED FUNDS—3.4% | ||||||||
Alger Mid Cap 40 ETF*,(b) | 346,045 | 6,879,375 | ||||||
FINANCIAL EXCHANGES & DATA—0.3% | ||||||||
MarketAxess Holdings, Inc. | 1,033 | 514,351 | ||||||
FOOD DISTRIBUTORS—1.5% | ||||||||
US Foods Holding Corp.* | 78,169 | 2,979,802 | ||||||
HEALTHCARE EQUIPMENT—2.9% | ||||||||
ABIOMED, Inc.* | 2,425 | 772,920 | ||||||
CryoPort, Inc.* | 23,768 | 1,236,174 | ||||||
Dexcom, Inc.* | 2,649 | 952,024 | ||||||
Insulet Corp.* | 7,832 | 2,043,525 | ||||||
Masimo Corp.* | 3,918 | 899,808 | ||||||
5,904,451 | ||||||||
HEALTHCARE FACILITIES—0.5% | ||||||||
The Joint Corp.* | 21,796 | 1,054,273 | ||||||
HEALTHCARE SERVICES—1.3% | ||||||||
Guardant Health, Inc.* | 17,636 | 2,692,135 | ||||||
HEALTHCARE SUPPLIES—1.1% | ||||||||
Align Technology, Inc.* | 4,229 | 2,290,130 | ||||||
HEALTHCARE TECHNOLOGY—2.6% | ||||||||
Teladoc Health, Inc.* | 10,579 | 1,922,733 | ||||||
Veeva Systems, Inc., Cl. A* | 12,981 | 3,391,157 | ||||||
5,313,890 | ||||||||
HOMEFURNISHING RETAIL—1.2% | ||||||||
Williams-Sonoma, Inc. | 13,197 | 2,364,902 | ||||||
HUMAN RESOURCE & EMPLOYMENT SERVICES—1.2% | ||||||||
Upwork, Inc.* | 53,036 | 2,374,422 |
- 14 -
THE ALGER PORTFOLIOS | ALGER MID CAP GROWTH PORTFOLIO |
Schedule of Investments March 31, 2021 (Unaudited) (Continued)
COMMON STOCKS—92.5% (CONT.) | SHARES | VALUE | ||||||
INDUSTRIAL MACHINERY—1.0% | ||||||||
The Middleby Corp.* | 11,971 | $ | 1,984,193 | |||||
INTERACTIVE MEDIA & SERVICES—3.1% | ||||||||
Pinterest, Inc., Cl. A* | 50,794 | 3,760,280 | ||||||
TripAdvisor, Inc.* | 45,966 | 2,472,511 | ||||||
6,232,791 | ||||||||
INTERNET & DIRECT MARKETING RETAIL—4.3% | ||||||||
Etsy, Inc.* | 6,228 | 1,256,001 | ||||||
Expedia Group, Inc.* | 12,036 | 2,071,636 | ||||||
Farfetch Ltd., Cl. A* | 31,451 | 1,667,532 | ||||||
Fiverr International Ltd.* | 2,229 | 484,094 | ||||||
Magnite, Inc.* | 52,816 | 2,197,674 | ||||||
Quotient Technology, Inc.* | 68,398 | 1,117,623 | ||||||
8,794,560 | ||||||||
INTERNET SERVICES & INFRASTRUCTURE—2.8% | ||||||||
BigCommerce Holdings, Inc.* | 49,095 | 2,837,691 | ||||||
Okta, Inc., Cl. A* | 6,349 | 1,399,510 | ||||||
Twilio, Inc., Cl. A* | 4,038 | 1,375,989 | ||||||
5,613,190 | ||||||||
LEISURE FACILITIES—0.8% | ||||||||
Vail Resorts, Inc.* | 5,814 | 1,695,711 | ||||||
LEISURE PRODUCTS—0.4% | ||||||||
Peloton Interactive, Inc., Cl. A* | 7,677 | 863,202 | ||||||
LIFE SCIENCES TOOLS & SERVICES—3.9% | ||||||||
10X Genomics, Inc., Cl. A* | 11,887 | 2,151,547 | ||||||
Bio-Techne Corp. | 9,952 | 3,800,967 | ||||||
Repligen Corp.* | 9,989 | 1,941,962 | ||||||
7,894,476 | ||||||||
MOVIES & ENTERTAINMENT—1.9% | ||||||||
Live Nation Entertainment, Inc.* | 7,618 | 644,864 | ||||||
Roku, Inc., Cl. A* | 9,838 | 3,204,925 | ||||||
3,849,789 | ||||||||
PHARMACEUTICALS—1.9% | ||||||||
Catalent, Inc.* | 13,451 | 1,416,525 | ||||||
Green Thumb Industries, Inc.* | 84,625 | 2,511,074 | ||||||
3,927,599 | ||||||||
REGIONAL BANKS—1.5% | ||||||||
Signature Bank | 4,968 | 1,123,265 | ||||||
Silvergate Capital Corp., Cl. A* | 8,347 | 1,186,693 | ||||||
SVB Financial Group* | 1,531 | 755,793 | ||||||
3,065,751 | ||||||||
RESEARCH & CONSULTING SERVICES—1.2% | ||||||||
CoStar Group, Inc.* | 3,038 | 2,496,902 | ||||||
RESTAURANTS—2.5% | ||||||||
Chipotle Mexican Grill, Inc., Cl. A* | 1,815 | 2,578,788 | ||||||
Shake Shack, Inc., Cl. A* | 23,076 | 2,602,281 | ||||||
5,181,069 | ||||||||
SEMICONDUCTOR EQUIPMENT—6.2% | ||||||||
Enphase Energy, Inc.* | 9,444 | 1,531,439 |
- 15 -
THE ALGER PORTFOLIOS | ALGER MID CAP GROWTH PORTFOLIO |
Schedule of Investments March 31, 2021 (Unaudited) (Continued)
COMMON STOCKS—92.5% (CONT.) | SHARES | VALUE | ||||||
SEMICONDUCTOR EQUIPMENT—6.2% (CONT.) | ||||||||
KLA Corp. | 9,671 | $ | 3,195,298 | |||||
Lam Research Corp. | 5,036 | 2,997,629 | ||||||
MKS Instruments, Inc. | 8,351 | 1,548,443 | ||||||
SolarEdge Technologies, Inc.* | 11,910 | 3,423,410 | ||||||
12,696,219 | ||||||||
SEMICONDUCTORS—2.4% | ||||||||
Advanced Micro Devices, Inc.* | 13,038 | 1,023,483 | ||||||
Microchip Technology, Inc. | 13,690 | 2,124,962 | ||||||
Universal Display Corp. | 7,014 | 1,660,705 | ||||||
4,809,150 | ||||||||
SYSTEMS SOFTWARE—1.0% | ||||||||
Crowdstrike Holdings, Inc., Cl. A* | 11,004 | 2,008,340 | ||||||
TRUCKING—1.7% | ||||||||
Lyft, Inc., Cl. A* | 15,540 | 981,817 | ||||||
Old Dominion Freight Line, Inc. | 7,343 | 1,765,331 | ||||||
Uber Technologies, Inc.* | 12,700 | 692,277 | ||||||
3,439,425 | ||||||||
TOTAL COMMON STOCKS | ||||||||
(Cost $147,550,445) | 188,779,449 | |||||||
PREFERRED STOCKS—0.0% | SHARES | VALUE | ||||||
BIOTECHNOLOGY—0.0% | ||||||||
Prosetta Biosciences, Inc., Series D*,@,(a),(b) | 170,419 | 25,563 | ||||||
(Cost $766,885) | 25,563 | |||||||
WARRANTS—1.7% | SHARES | VALUE | ||||||
BIOTECHNOLOGY—1.7% | ||||||||
Forte Biosciences, Inc., 6/30/21*,@ | 147,399 | 3,494,241 | ||||||
(Cost $0) | 3,494,241 | |||||||
RIGHTS—0.1% | SHARES | VALUE | ||||||
BIOTECHNOLOGY—0.1% | ||||||||
Tolero CDR*,@,(a),(c) | 425,098 | 293,318 | ||||||
(Cost $227,341) | 293,318 | |||||||
REAL ESTATE INVESTMENT TRUST—4.4% | SHARES | VALUE | ||||||
RETAIL—2.1% | ||||||||
Simon Property Group, Inc. | 19,440 | 2,211,689 | ||||||
Tanger Factory Outlet Centers, Inc. | 140,873 | 2,131,408 | ||||||
4,343,097 | ||||||||
SPECIALIZED—2.3% | ||||||||
Crown Castle International Corp. | 26,464 | 4,555,248 | ||||||
TOTAL REAL ESTATE INVESTMENT TRUST | ||||||||
(Cost $7,539,332) | 8,898,345 | |||||||
SPECIAL PURPOSE VEHICLE—0.6% | SHARES | VALUE | ||||||
DATA PROCESSING & OUTSOURCED SERVICES—0.6% | ||||||||
Crosslink Ventures Capital LLC, Cl. A*,@,(a),(b) | 35 | 875,000 |
- 16 -
THE ALGER PORTFOLIOS | ALGER MID CAP GROWTH PORTFOLIO |
Schedule of Investments March 31, 2021 (Unaudited) (Continued)
SPECIAL PURPOSE VEHICLE—0.6% (CONT.) | SHARES | VALUE | ||||||
DATA PROCESSING & OUTSOURCED SERVICES—0.6% (CONT.) | ||||||||
Crosslink Ventures Capital LLC, Cl. B*,@,(a),(b) | 13 | $ | 325,000 | |||||
1,200,000 | ||||||||
TOTAL SPECIAL PURPOSE VEHICLE | ||||||||
(Cost $1,200,000) | 1,200,000 | |||||||
Total Investments | ||||||||
(Cost $157,284,003) | 99.3 | % | $ | 202,690,916 | ||||
Affiliated Securities (Cost $9,011,719) | 8,104,938 | |||||||
Unaffiliated Securities (Cost $148,272,284) | 194,585,978 | |||||||
Other Assets in Excess of Liabilities | 0.7 | % | 1,326,716 | |||||
NET ASSETS | 100.0 | % | $ | 204,017,632 |
* | Non-income producing security. |
(a) | Security is valued in good faith at fair value determined using significant unobservable inputs pursuant to procedures established by the Board. |
(b) | Deemed an affiliate of the Portfolio in accordance with Section 2(a)(3) of the Investment Company Act of 1940. See Note 5 - Affiliated Securities. |
(c) | Contingent Deferred Rights. |
@ | Restricted security - Investment in security not registered under the Securities Act of 1933. Sales or transfers of the investment may be restricted only to qualified buyers. |
Security | Acquisition Date(s) | Acquisition Cost | % of net assets (Acquisition Date) | Market Value | % of net assets as of 3/31/2021 | |||||||||||||
Crosslink Ventures Capital LLC, Cl. A | 10/2/20 | $ | 875,000 | 0.50 | % | $ | 875,000 | 0.43 | % | |||||||||
Crosslink Ventures Capital LLC, Cl. B | 12/16/20 | 325,000 | 0.18 | % | 325,000 | 0.16 | % | |||||||||||
Forte Biosciences, Inc., Warrants | 2/19/20 | 0 | 0.00 | % | 3,494,241 | 1.71 | % | |||||||||||
Prosetta Biosciences, Inc., Series D | 2/6/15 | 766,885 | 0.50 | % | 25,563 | 0.01 | % | |||||||||||
Tolero CDR | 2/6/17 | 227,341 | 0.18 | % | 293,318 | | 0.15 | % | ||||||||||
Total | $ | 5,013,122 | 2.46 | % |
See Notes to Financial Statements.
- 17 -
THE ALGER PORTFOLIOS | ALGER WEATHERBIE SPECIALIZED GROWTH PORTFOLIO |
Schedule of Investments March 31, 2021 (Unaudited)
COMMON STOCKS—99.0% | SHARES | VALUE | ||||||
AEROSPACE & DEFENSE—1.6% | ||||||||
Kratos Defense & Security Solutions, Inc.* | 2,116 | $ | 57,725 | |||||
AIR FREIGHT & LOGISTICS—1.4% | ||||||||
XPO Logistics, Inc.* | 399 | 49,197 | ||||||
APPAREL ACCESSORIES & LUXURY GOODS—0.3% | ||||||||
Canada Goose Holdings, Inc.* | 272 | 10,676 | ||||||
APPAREL RETAIL—0.9% | ||||||||
MYT Netherlands Parent BV#,* | 1,171 | 33,093 | ||||||
APPLICATION SOFTWARE—13.8% | ||||||||
Altair Engineering, Inc., Cl. A* | 153 | 9,573 | ||||||
BTRS Holdings, Inc.* | 219 | 3,169 | ||||||
Cerence, Inc.* | 910 | 81,518 | ||||||
Ebix, Inc. | 1,426 | 45,675 | ||||||
Everbridge, Inc.* | 478 | 57,924 | ||||||
LivePerson, Inc.* | 274 | 14,451 | ||||||
Mimecast Ltd.* | 406 | 16,325 | ||||||
Paylocity Holding Corp.* | 930 | 167,242 | ||||||
SEMrush Holdings, Inc., Cl. A* | 887 | 10,564 | ||||||
SPS Commerce, Inc.* | 355 | 35,255 | ||||||
Vertex, Inc., Cl. A* | 2,449 | 53,829 | ||||||
495,525 | ||||||||
ASSET MANAGEMENT & CUSTODY BANKS—5.1% | ||||||||
Hamilton Lane, Inc., Cl. A | 1,050 | 92,988 | ||||||
StepStone Group, Inc., Cl. A | 2,554 | 90,080 | ||||||
183,068 | ||||||||
BIOTECHNOLOGY—9.0% | ||||||||
ACADIA Pharmaceuticals, Inc.* | 2,908 | 75,026 | ||||||
Natera, Inc.* | 1,850 | 187,849 | ||||||
Puma Biotechnology, Inc.* | 3,808 | 37,014 | ||||||
Ultragenyx Pharmaceutical, Inc.* | 199 | 22,658 | ||||||
322,547 | ||||||||
CONSUMER FINANCE—6.2% | ||||||||
LendingTree, Inc.* | 101 | 21,513 | ||||||
Upstart Holdings, Inc.* | 1,564 | 201,537 | ||||||
223,050 | ||||||||
EDUCATION SERVICES—5.6% | ||||||||
Chegg, Inc.* | 2,337 | 200,187 | ||||||
ELECTRONIC EQUIPMENT & INSTRUMENTS—0.6% | ||||||||
Novanta, Inc.* | 170 | 22,421 | ||||||
ENVIRONMENTAL & FACILITIES SERVICES—4.6% | ||||||||
Casella Waste Systems, Inc., Cl. A* | 1,531 | 97,326 | ||||||
Montrose Environmental Group, Inc.* | 1,360 | 68,258 | ||||||
165,584 | ||||||||
GENERAL MERCHANDISE STORES—3.7% | ||||||||
Ollie's Bargain Outlet Holdings, Inc.* | 1,549 | 134,763 | ||||||
HEALTHCARE DISTRIBUTORS—1.4% | ||||||||
PetIQ, Inc., Cl. A* | 1,462 | 51,550 | ||||||
HEALTHCARE EQUIPMENT—6.7% | ||||||||
Eargo, Inc.* | 787 | 39,311 |
- 18 -
THE ALGER PORTFOLIOS | ALGER WEATHERBIE SPECIALIZED GROWTH PORTFOLIO |
Schedule of Investments March 31, 2021 (Unaudited) (Continued)
COMMON STOCKS—99.0% (CONT.) | SHARES | VALUE | ||||||
HEALTHCARE EQUIPMENT—6.7% (CONT.) Glaukos Corp.* | 728 | $ | 61,101 | |||||
Nevro Corp.* | 1,004 | 140,058 | ||||||
240,470 | ||||||||
HEALTHCARE FACILITIES—0.1% US Physical Therapy, Inc. | 18 | 1,874 | ||||||
HEALTHCARE SUPPLIES—0.4% Silk Road Medical, Inc.* | 282 | 14,283 | ||||||
HEALTHCARE TECHNOLOGY—1.9% Inspire Medical Systems, Inc.* | 88 | 18,215 | ||||||
Tabula Rasa HealthCare, Inc.* | 1,097 | 50,517 | ||||||
68,732 | ||||||||
INSURANCE BROKERS—1.6% Goosehead Insurance, Inc., Cl. A | 524 | 56,162 | ||||||
IT CONSULTING & OTHER SERVICES—2.7% Globant SA* | 461 | 95,708 | ||||||
LEISURE FACILITIES—1.9% Planet Fitness, Inc., Cl. A* | 904 | 69,879 | ||||||
LIFE SCIENCES TOOLS & SERVICES—2.5% NeoGenomics, Inc.* | 1,893 | 91,299 | ||||||
MANAGED HEALTHCARE—5.7% Progyny, Inc.* | 4,592 | 204,390 | ||||||
OIL & GAS EQUIPMENT & SERVICES—2.7% Core Laboratories NV | 3,348 | 96,389 | ||||||
PHARMACEUTICALS—0.4% Aerie Pharmaceuticals, Inc.* | 839 | 14,993 | ||||||
REAL ESTATE SERVICES—5.9% FirstService Corp. | 1,436 | 212,801 | ||||||
REGIONAL BANKS—5.6% Signature Bank | 885 | 200,099 | ||||||
RESTAURANTS—0.7% Wingstop, Inc. | 189 | 24,035 | ||||||
SEMICONDUCTORS—1.4% Impinj, Inc.* | 870 | 49,477 | ||||||
SYSTEMS SOFTWARE—0.8% Rapid7, Inc.* | 371 | 27,680 | ||||||
THRIFTS & MORTGAGE FINANCE—1.3% Axos Financial, Inc.* | 1,034 | 48,608 | ||||||
TRADING COMPANIES & DISTRIBUTORS—2.5% SiteOne Landscape Supply, Inc.* | 536 | 91,517 | ||||||
TOTAL COMMON STOCKS (Cost $2,585,631) | 3,557,782 | |||||||
PREFERRED STOCKS—0.0% | SHARES | VALUE | ||||||
BIOTECHNOLOGY—0.0% Prosetta Biosciences, Inc., Series D*,@,(a),(b) | 10,615 | 1,592 | ||||||
(Cost $47,768) | 1,592 |
- 19 -
THE ALGER PORTFOLIOS | ALGER WEATHERBIE SPECIALIZED GROWTH PORTFOLIO |
Schedule of Investments March 31, 2021 (Unaudited) (Continued)
VALUE | ||||||||
Total Investments (Cost $2,633,399) | 99.0 | % | $ | 3,559,374 | ||||
Affiliated Securities (Cost $47,768) | 1,592 | |||||||
Unaffiliated Securities (Cost $2,585,631) | 3,557,782 | |||||||
Other Assets in Excess of Liabilities | 1.0 | % | 36,114 | |||||
NET ASSETS | 100.0 | % | $ | 3,595,488 |
(a) | Deemed an affiliate of the Portfolio in accordance with Section 2(a)(3) of the Investment Company Act of 1940. See Note 5 - Affiliated Securities. |
(b) | Security is valued in good faith at fair value determined using significant unobservable inputs pursuant to procedures established by the Board. |
# | American Depositary Receipt. |
* | Non-income producing security. |
@ | Restricted security - Investment in security not registered under the Securities Act of 1933. Sales or transfers of the investment may be restricted only to qualified buyers. |
Security | Acquisition Date(s) | Acquisition Cost | % of net assets (Acquisition Date) | Market Value | % of net assets as of 3/31/2021 | |||||||||||||
Prosetta Biosciences, Inc., Series D | 2/6/15 | $ | 47,768 | 0.10 | % | $ | 1,592 | 0.04 | % | |||||||||
Total | $ | 1,592 | 0.04 | % |
See Notes to Financial Statements.
- 20 -
THE ALGER PORTFOLIOS | ALGER SMALL CAP GROWTH PORTFOLIO |
Schedule of Investments March 31, 2021 (Unaudited)
COMMON STOCKS—95.1% | SHARES | VALUE | ||||||
AEROSPACE & DEFENSE—1.2% | ||||||||
Hexcel Corp.* | 15,092 | $ | 845,152 | |||||
Mercury Systems, Inc.* | 40,063 | 2,830,451 | ||||||
3,675,603 | ||||||||
AGRICULTURAL & FARM MACHINERY—1.0% | ||||||||
Hydrofarm Holdings Group, Inc.* | 49,214 | 2,968,588 | ||||||
ALTERNATIVE CARRIERS—0.9% | ||||||||
Bandwidth, Inc., Cl. A* | 21,913 | 2,777,254 | ||||||
APPAREL RETAIL—0.6% | ||||||||
Burlington Stores, Inc.* | 6,701 | 2,002,259 | ||||||
APPLICATION SOFTWARE—22.0% | ||||||||
ACI Worldwide, Inc.* | 132,823 | 5,053,915 | ||||||
Avalara, Inc.* | 49,327 | 6,581,702 | ||||||
Benefitfocus, Inc.* | 31,100 | 429,491 | ||||||
Bill.com Holdings, Inc.* | 20,762 | 3,020,871 | ||||||
Blackbaud, Inc.* | 34,526 | 2,454,108 | ||||||
Blackline, Inc.* | 22,863 | 2,478,349 | ||||||
Coupa Software, Inc.* | 13,039 | 3,318,165 | ||||||
Everbridge, Inc.* | 35,508 | 4,302,859 | ||||||
Guidewire Software, Inc.* | 25,434 | 2,584,857 | ||||||
HubSpot, Inc.* | 22,030 | 10,006,246 | ||||||
Manhattan Associates, Inc.* | 32,908 | 3,862,741 | ||||||
Medallia, Inc.* | 19,649 | 548,011 | ||||||
Paycom Software, Inc.* | 14,001 | 5,181,210 | ||||||
Q2 Holdings, Inc.* | 47,621 | 4,771,624 | ||||||
SEMrush Holdings, Inc., Cl. A* | 46,385 | 552,445 | ||||||
Smartsheet, Inc., Cl. A* | 37,106 | 2,371,816 | ||||||
Sprout Social, Inc., Cl. A* | 26,926 | 1,555,246 | ||||||
SPS Commerce, Inc.* | 39,018 | 3,874,878 | ||||||
Tyler Technologies, Inc.* | 7,143 | 3,032,418 | ||||||
Vertex, Inc., Cl. A* | 25,217 | 554,270 | ||||||
Viant Technology, Inc., Cl. A* | 27,178 | 1,437,444 | ||||||
67,972,666 | ||||||||
ASSET MANAGEMENT & CUSTODY BANKS—1.2% | ||||||||
Affiliated Managers Group, Inc. | 24,422 | 3,639,611 | ||||||
BIOTECHNOLOGY—4.5% | ||||||||
CareDx, Inc.* | 134,206 | 9,138,086 | ||||||
Exact Sciences Corp.* | 22,196 | 2,924,989 | ||||||
Karuna Therapeutics, Inc.* | 7,467 | 897,757 | ||||||
Turning Point Therapeutics, Inc.* | 10,818 | 1,023,275 | ||||||
13,984,107 | ||||||||
CASINOS & GAMING—3.9% | ||||||||
DraftKings, Inc., Cl. A* | 85,549 | 5,246,720 | ||||||
Penn National Gaming, Inc.* | 63,996 | 6,709,341 | ||||||
11,956,061 | ||||||||
CONSUMER FINANCE—1.1% | ||||||||
dMY Technology Group, Inc. II, Cl. A* | 226,421 | 3,330,653 | ||||||
DIVERSIFIED SUPPORT SERVICES—0.4% | ||||||||
IAA, Inc.* | 24,352 | 1,342,769 |
- 21 -
THE ALGER PORTFOLIOS | ALGER SMALL CAP GROWTH PORTFOLIO |
Schedule of Investments March 31, 2021 (Unaudited) (Continued)
COMMON STOCKS—95.1% (CONT.) | SHARES | VALUE | ||||||
ELECTRICAL COMPONENTS & EQUIPMENT—1.1% | ||||||||
Sunrun, Inc.* | 55,181 | $ | 3,337,347 | |||||
ELECTRONIC COMPONENTS—0.6% | ||||||||
Dolby Laboratories, Inc., Cl. A | 20,123 | 1,986,543 | ||||||
ELECTRONIC EQUIPMENT & INSTRUMENTS—1.6% | ||||||||
Cognex Corp. | 59,569 | 4,943,631 | ||||||
FINANCIAL EXCHANGES & DATA—0.9% | ||||||||
Tradeweb Markets, Inc., Cl. A | 36,233 | 2,681,242 | ||||||
FOOD DISTRIBUTORS—1.9% | ||||||||
The Chefs' Warehouse, Inc.* | 45,322 | 1,380,508 | ||||||
US Foods Holding Corp.* | 115,553 | 4,404,881 | ||||||
5,785,389 | ||||||||
HEALTHCARE EQUIPMENT—9.0% | ||||||||
ABIOMED, Inc.* | 12,648 | 4,031,297 | ||||||
Cantel Medical Corp.* | 12,605 | 1,006,383 | ||||||
CryoPort, Inc.* | 70,234 | 3,652,870 | ||||||
Dexcom, Inc.* | 10,700 | 3,845,473 | ||||||
Inmode Ltd.* | 17,051 | 1,233,981 | ||||||
Inogen, Inc.* | 31,068 | 1,631,691 | ||||||
Insulet Corp.* | 31,406 | 8,194,454 | ||||||
Mesa Laboratories, Inc. | 5,284 | 1,286,654 | ||||||
Tandem Diabetes Care, Inc.* | 34,095 | 3,008,884 | ||||||
27,891,687 | ||||||||
HEALTHCARE FACILITIES—0.5% | ||||||||
The Joint Corp.* | 33,766 | 1,633,261 | ||||||
HEALTHCARE SERVICES—2.3% | ||||||||
1Life Healthcare, Inc.* | 11,593 | 453,054 | ||||||
Biodesix, Inc.* | 37,739 | 766,479 | ||||||
Guardant Health, Inc.* | 33,287 | 5,081,261 | ||||||
Progenity, Inc.* | 140,639 | 669,442 | ||||||
6,970,236 | ||||||||
HEALTHCARE SUPPLIES—3.5% | ||||||||
Neogen Corp.* | 89,354 | 7,942,677 | ||||||
Quidel Corp.* | 22,772 | 2,913,222 | ||||||
10,855,899 | ||||||||
HEALTHCARE TECHNOLOGY—5.5% | ||||||||
Teladoc Health, Inc.* | 17,444 | 3,170,447 | ||||||
Veeva Systems, Inc., Cl. A* | 34,964 | 9,133,995 | ||||||
Vocera Communications, Inc.* | 120,362 | 4,629,123 | ||||||
16,933,565 | ||||||||
HOMEFURNISHING RETAIL—0.6% | ||||||||
Bed Bath & Beyond, Inc.* | 68,055 | 1,983,803 | ||||||
HYPERMARKETS & SUPER CENTERS—0.9% | ||||||||
BJ's Wholesale Club Holdings, Inc.* | 60,058 | 2,694,202 | ||||||
INTERACTIVE HOME ENTERTAINMENT—0.3% | ||||||||
Take-Two Interactive Software, Inc.* | 5,900 | 1,042,530 | ||||||
INTERACTIVE MEDIA & SERVICES—1.9% | ||||||||
Bumble, Inc., Cl. A* | 4,383 | 273,411 | ||||||
Eventbrite, Inc., Cl. A* | 79,887 | 1,770,296 |
- 22 -
THE ALGER PORTFOLIOS | ALGER SMALL CAP GROWTH PORTFOLIO |
Schedule of Investments March 31, 2021 (Unaudited) (Continued)
COMMON STOCKS—95.1% (CONT.) | SHARES | VALUE | ||||||
INTERACTIVE MEDIA & SERVICES—1.9% (CONT.) | ||||||||
TripAdvisor, Inc.* | 73,587 | $ | 3,958,245 | |||||
6,001,952 | ||||||||
INTERNET & DIRECT MARKETING RETAIL—5.2% | ||||||||
Farfetch Ltd., Cl. A* | 86,763 | 4,600,174 | ||||||
Fiverr International Ltd.* | 19,139 | 4,156,608 | ||||||
Magnite, Inc.* | 121,614 | 5,060,359 | ||||||
The RealReal, Inc.* | 94,621 | 2,141,273 | ||||||
15,958,414 | ||||||||
INTERNET SERVICES & INFRASTRUCTURE—0.8% | ||||||||
BigCommerce Holdings, Inc.* | 40,409 | 2,335,640 | ||||||
LEISURE FACILITIES—0.6% | ||||||||
Planet Fitness, Inc., Cl. A* | 24,083 | 1,861,616 | ||||||
LIFE SCIENCES TOOLS & SERVICES—9.8% | ||||||||
10X Genomics, Inc., Cl. A* | 18,402 | 3,330,762 | ||||||
Bio-Techne Corp. | 22,147 | 8,458,604 | ||||||
Maravai LifeSciences Holdings, Inc., Cl. A* | 22,490 | 801,543 | ||||||
NanoString Technologies, Inc.* | 98,347 | 6,462,381 | ||||||
NeoGenomics, Inc.* | 82,395 | 3,973,911 | ||||||
PRA Health Sciences, Inc.* | 22,887 | 3,509,264 | ||||||
Repligen Corp.* | 19,034 | 3,700,400 | ||||||
30,236,865 | ||||||||
MANAGED HEALTHCARE—0.7% | ||||||||
HealthEquity, Inc.* | 31,422 | 2,136,696 | ||||||
MOVIES & ENTERTAINMENT—0.8% | ||||||||
Live Nation Entertainment, Inc.* | 29,410 | 2,489,557 | ||||||
OIL & GAS EXPLORATION & PRODUCTION—1.2% | ||||||||
Magnolia Oil & Gas Corp., Cl. A* | 315,313 | 3,619,793 | ||||||
PHARMACEUTICALS—0.2% | ||||||||
Aerie Pharmaceuticals, Inc.* | 41,803 | 747,020 | ||||||
REGIONAL BANKS—0.4% | ||||||||
Webster Financial Corp. | 21,118 | 1,163,813 | ||||||
RESTAURANTS—2.3% | ||||||||
Shake Shack, Inc., Cl. A* | 30,733 | 3,465,760 | ||||||
Wingstop, Inc. | 27,928 | 3,551,604 | ||||||
7,017,364 | ||||||||
SEMICONDUCTOR EQUIPMENT—0.7% | ||||||||
SolarEdge Technologies, Inc.* | 7,735 | 2,223,348 | ||||||
SEMICONDUCTORS—1.0% | ||||||||
Universal Display Corp. | 13,354 | 3,161,827 | ||||||
SPECIALTY CHEMICALS—1.5% | ||||||||
Balchem Corp. | 37,491 | 4,701,746 | ||||||
SPECIALTY STORES—1.1% | ||||||||
Five Below, Inc.* | 9,950 | 1,898,360 | ||||||
Leslie's, Inc.* | 4,192 | 102,662 | ||||||
Sportsman's Warehouse Holdings, Inc.* | 72,787 | 1,254,848 | ||||||
3,255,870 |
- 23 -
THE ALGER PORTFOLIOS | ALGER SMALL CAP GROWTH PORTFOLIO |
Schedule of Investments March 31, 2021 (Unaudited) (Continued)
COMMON STOCKS—95.1% (CONT.) | SHARES | VALUE | ||||||
SYSTEMS SOFTWARE—1.4% Proofpoint, Inc.* | 33,101 | $ | 4,163,775 | |||||
TOTAL COMMON STOCKS (Cost $127,020,566) | 293,464,202 | |||||||
PREFERRED STOCKS—0.0% | SHARES | VALUE | ||||||
BIOTECHNOLOGY—0.0% Prosetta Biosciences, Inc., Series D*,@,(a),(b) | 75,383 | 11,307 | ||||||
(Cost $339,224) | 11,307 | |||||||
RIGHTS—0.0% | SHARES | VALUE | ||||||
BIOTECHNOLOGY—0.0% Tolero CDR*,@,(b),(c) | 287,830 | 198,603 | ||||||
(Cost $155,594) | 198,603 | |||||||
REAL ESTATE INVESTMENT TRUST—1.0% | SHARES | VALUE | ||||||
SPECIALIZED—1.0% Digital Realty Trust, Inc. | 22,654 | 3,190,589 | ||||||
(Cost $2,892,236) | 3,190,589 | |||||||
SPECIAL PURPOSE VEHICLE—0.6% | SHARES | VALUE | ||||||
DATA PROCESSING & OUTSOURCED SERVICES—0.6% Crosslink Ventures Capital LLC, Cl. A*,@,(a),(b) | 56 | 1,400,000 | ||||||
Crosslink Ventures Capital LLC, Cl. B*,@,(a),(b) | 12 | 300,000 | ||||||
1,700,000 | ||||||||
TOTAL SPECIAL PURPOSE VEHICLE (Cost $1,700,000) | 1,700,000 | |||||||
Total Investments (Cost $132,107,620) | 96.7 | % | $ | 298,564,701 | ||||
Affiliated Securities (Cost $2,039,224) | 1,711,307 | |||||||
Unaffiliated Securities (Cost $130,068,396) | 296,853,394 | |||||||
Other Assets in Excess of Liabilities | 3.3 | % | 10,077,224 | |||||
NET ASSETS | 100.0 | % | $ | 308,641,925 |
(a) | Deemed an affiliate of the Portfolio in accordance with Section 2(a)(3) of the Investment Company Act of 1940. See Note 5 - Affiliated Securities. |
(b) | Security is valued in good faith at fair value determined using significant unobservable inputs pursuant to procedures established by the Board. |
(c) | Contingent Deferred Rights. |
* | Non-income producing security. |
@ | Restricted security - Investment in security not registered under the Securities Act of 1933. Sales or transfers of the investment may be restricted only to qualified buyers. |
Security | Acquisition Date(s) | Acquisition Cost | % of net assets (Acquisition Date) | Market Value | % of net assets as of 3/31/2021 | |||||||||||||
Crosslink Ventures Capital LLC, Cl. A | 10/2/20 | $ | 1,400,000 | 0.49 | % | $ | 1,400,000 | 0.46 | % | |||||||||
Crosslink Ventures Capital LLC, Cl. B | 12/16/20 | 300,000 | 0.10 | % | 300,000 | 0.11 | % | |||||||||||
Prosetta Biosciences, Inc., Series D | 2/6/15 | 339,224 | 0.10 | % | 11,307 | 0.00 | % | |||||||||||
Tolero CDR | 2/6/17 | 155,594 | 0.08 | % | 198,603 | | 0.05 | % | ||||||||||
Total | $ | 1,909,910 | 0.62 | % |
See Notes to Financial Statements.
- 24 -
THE ALGER PORTFOLIOS | ALGER BALANCED PORTFOLIO |
Schedule of Investments March 31, 2021 (Unaudited)
COMMON STOCKS—61.3% | SHARES | VALUE | ||||||
AEROSPACE & DEFENSE—1.0% | ||||||||
General Dynamics Corp. | 1,083 | $ | 196,629 | |||||
Raytheon Technologies Corp. | 2,371 | 183,207 | ||||||
TransDigm Group, Inc.* | 290 | 170,497 | ||||||
550,333 | ||||||||
ASSET MANAGEMENT & CUSTODY BANKS—2.5% | ||||||||
BlackRock, Inc., Cl. A | 952 | 717,770 | ||||||
The Blackstone Group, Inc. | 5,831 | 434,584 | ||||||
The Carlyle Group, Inc. | 6,227 | 228,905 | ||||||
1,381,259 | ||||||||
BIOTECHNOLOGY—1.8% | ||||||||
AbbVie, Inc. | 4,877 | 527,789 | ||||||
Amgen, Inc. | 1,056 | 262,743 | ||||||
Gilead Sciences, Inc. | 2,516 | 162,609 | ||||||
953,141 | ||||||||
BROADCASTING—0.2% | ||||||||
ViacomCBS, Inc., Cl. B | 1,851 | 83,480 | ||||||
BUILDING PRODUCTS—0.4% | ||||||||
Johnson Controls International PLC | 3,449 | 205,802 | ||||||
CABLE & SATELLITE—1.0% | ||||||||
Comcast Corp., Cl. A | 9,967 | 539,314 | ||||||
COMMODITY CHEMICALS—0.3% | ||||||||
Dow, Inc. | 2,258 | 144,376 | ||||||
COMMUNICATIONS EQUIPMENT—0.8% | ||||||||
Cisco Systems, Inc. | 8,567 | 443,000 | ||||||
CONSTRUCTION MACHINERY & HEAVY TRUCKS—0.1% | ||||||||
PACCAR, Inc. | 868 | 80,655 | ||||||
CONSUMER ELECTRONICS—0.4% | ||||||||
Garmin Ltd. | 1,641 | 216,366 | ||||||
DATA PROCESSING & OUTSOURCED SERVICES—0.8% | ||||||||
Visa, Inc., Cl. A | 2,140 | 453,102 | ||||||
DIVERSIFIED BANKS—3.9% | ||||||||
Bank of America Corp. | 13,900 | 537,791 | ||||||
JPMorgan Chase & Co. | 10,405 | 1,583,953 | ||||||
2,121,744 | ||||||||
ELECTRIC UTILITIES—0.5% | ||||||||
NextEra Energy, Inc. | 3,500 | 264,635 | ||||||
ELECTRICAL COMPONENTS & EQUIPMENT—0.6% | ||||||||
Eaton Corp. PLC | 2,452 | 339,063 | ||||||
FINANCIAL EXCHANGES & DATA—0.8% | ||||||||
CME Group, Inc., Cl. A | 2,211 | 451,553 | ||||||
FOOD DISTRIBUTORS—0.4% | ||||||||
Sysco Corp. | 2,924 | 230,236 | ||||||
HEALTHCARE EQUIPMENT—0.6% | ||||||||
Medtronic PLC | 2,696 | 318,478 | ||||||
HEALTHCARE SERVICES—0.7% | ||||||||
CVS Health Corp. | 5,182 | 389,842 | ||||||
HOME IMPROVEMENT RETAIL—2.2% | ||||||||
The Home Depot, Inc. | 3,857 | 1,177,349 |
- 25 -
THE ALGER PORTFOLIOS | ALGER BALANCED PORTFOLIO |
Schedule of Investments March 31, 2021 (Unaudited) (Continued)
COMMON STOCKS—61.3% (CONT.) | SHARES | VALUE | ||||||
HOUSEHOLD PRODUCTS—1.1% | ||||||||
The Procter & Gamble Co. | 4,400 | $ | 595,892 | |||||
HYPERMARKETS & SUPER CENTERS—0.6% | ||||||||
Walmart, Inc. | 2,320 | 315,126 | ||||||
INDUSTRIAL CONGLOMERATES—1.5% | ||||||||
Honeywell International, Inc. | 3,810 | 827,037 | ||||||
INDUSTRIAL GASES—0.8% | ||||||||
Air Products & Chemicals, Inc. | 1,573 | 442,548 | ||||||
INTEGRATED OIL & GAS—1.6% | ||||||||
Chevron Corp. | 4,047 | 424,085 | ||||||
Exxon Mobil Corp. | 3,667 | 204,729 | ||||||
TOTAL SE# | 5,051 | 235,073 | ||||||
863,887 | ||||||||
INTEGRATED TELECOMMUNICATION SERVICES—1.5% | ||||||||
AT&T, Inc. | 8,245 | 249,576 | ||||||
Verizon Communications, Inc. | 10,027 | 583,070 | ||||||
832,646 | ||||||||
INTERACTIVE MEDIA & SERVICES—5.5% | ||||||||
Alphabet, Inc., Cl. A* | 536 | 1,105,511 | ||||||
Alphabet, Inc., Cl. C* | 508 | 1,050,864 | ||||||
Facebook, Inc., Cl. A* | 2,818 | 829,985 | ||||||
2,986,360 | ||||||||
INTERNET & DIRECT MARKETING RETAIL—1.5% | ||||||||
Amazon.com, Inc.* | 269 | 832,307 | ||||||
INVESTMENT BANKING & BROKERAGE—1.8% | ||||||||
Morgan Stanley | 12,323 | 957,004 | ||||||
MANAGED HEALTHCARE—1.5% | ||||||||
UnitedHealth Group, Inc. | 2,138 | 795,486 | ||||||
MULTI-LINE INSURANCE—0.3% | ||||||||
The Hartford Financial Services Group, Inc. | 2,647 | 176,793 | ||||||
MULTI-UTILITIES—0.3% | ||||||||
Sempra Energy | 1,387 | 183,888 | ||||||
OIL & GAS STORAGE & TRANSPORTATION—0.3% | ||||||||
ONEOK, Inc. | 2,694 | 136,478 | ||||||
PHARMACEUTICALS—4.1% | ||||||||
AstraZeneca PLC# | 3,998 | 198,781 | ||||||
Bristol-Myers Squibb Co. | 3,563 | 224,932 | ||||||
Eli Lilly & Co. | 1,465 | 273,691 | ||||||
GlaxoSmithKline PLC# | 5,029 | 179,485 | ||||||
Johnson & Johnson | 4,248 | 698,159 | ||||||
Merck & Co., Inc. | 2,793 | 215,313 | ||||||
Novartis AG# | 2,161 | 184,722 | ||||||
Pfizer, Inc. | 7,384 | 267,522 | ||||||
2,242,605 | ||||||||
PROPERTY & CASUALTY INSURANCE—0.3% | ||||||||
The Progressive Corp. | 1,756 | 167,891 | ||||||
RAILROADS—0.5% | ||||||||
Union Pacific Corp. | 1,307 | 288,076 |
- 26 -
THE ALGER PORTFOLIOS | ALGER BALANCED PORTFOLIO |
Schedule of Investments March 31, 2021 (Unaudited) (Continued)
COMMON STOCKS—61.3% (CONT.) | SHARES | VALUE | ||||||
RESTAURANTS—0.9% McDonald's Corp. | 1,178 | $ | 264,037 | |||||
Starbucks Corp. | 2,012 | 219,851 | ||||||
483,888 | ||||||||
SEMICONDUCTOR EQUIPMENT—1.5% KLA Corp. | 2,479 | 819,062 | ||||||
SEMICONDUCTORS—2.9% Broadcom, Inc. | 1,559 | 722,846 | ||||||
QUALCOMM, Inc. | 3,952 | 523,995 | ||||||
Taiwan Semiconductor Manufacturing Co., Ltd.# | 2,724 | 322,195 | ||||||
1,569,036 | ||||||||
SOFT DRINKS—1.8% PepsiCo, Inc. | 3,622 | 512,332 | ||||||
The Coca-Cola Co. | 8,431 | 444,398 | ||||||
956,730 | ||||||||
SYSTEMS SOFTWARE—5.9% Microsoft Corp. | 13,601 | 3,206,708 | ||||||
TECHNOLOGY HARDWARE STORAGE & PERIPHERALS—5.1% Apple, Inc. | 22,772 | 2,781,600 | ||||||
TOBACCO—1.0% Altria Group, Inc. | 7,090 | 362,725 | ||||||
Philip Morris International, Inc. | 1,822 | 161,684 | ||||||
524,409 | ||||||||
TOTAL COMMON STOCKS (Cost $14,866,444) | 33,329,185 | |||||||
MASTER LIMITED PARTNERSHIP—0.4% | SHARES | VALUE | ||||||
OIL & GAS STORAGE & TRANSPORTATION—0.4% Cheniere Energy Partners LP | 4,546 | 188,886 | ||||||
(Cost $150,738) | 188,886 | |||||||
REAL ESTATE INVESTMENT TRUST—3.3% | SHARES | VALUE | ||||||
HEALTHCARE—0.4% Welltower, Inc. | 2,793 | 200,062 | ||||||
INDUSTRIAL—0.3% Americold Realty Trust | 4,853 | 186,695 | ||||||
MORTGAGE—0.5% Blackstone Mortgage Trust, Inc., Cl. A | 9,169 | 284,239 | ||||||
RETAIL—0.5% Simon Property Group, Inc. | 2,271 | 258,372 | ||||||
SPECIALIZED—1.6% Crown Castle International Corp. | 2,997 | 515,874 | ||||||
CyrusOne, Inc. | 2,548 | 172,550 | ||||||
Lamar Advertising Co., Cl. A | 2,104 | 197,608 | ||||||
886,032 | ||||||||
TOTAL REAL ESTATE INVESTMENT TRUST (Cost $1,292,320) | 1,815,400 |
CORPORATE BONDS—30.7% | PRINCIPAL AMOUNT | VALUE | ||||||
AGRICULTURAL & FARM MACHINERY—3.3% | ||||||||
John Deere Capital Corp., 2.75%, 3/15/22 | 1,750,000 | 1,792,645 |
- 27 -
THE ALGER PORTFOLIOS | ALGER BALANCED PORTFOLIO |
Schedule of Investments March 31, 2021 (Unaudited) (Continued)
CORPORATE BONDS—30.7% (CONT.) | PRINCIPAL AMOUNT | VALUE | ||||||
AUTOMOBILE MANUFACTURERS—0.9% | ||||||||
Toyota Motor Credit Corp., 0.45%, 7/22/22 | 500,000 | $ | 501,058 | |||||
BIOTECHNOLOGY—1.0% | ||||||||
AbbVie, Inc., 3.6%, 5/14/25 | 500,000 | 545,021 | ||||||
DATA PROCESSING & OUTSOURCED SERVICES—0.9% | ||||||||
PayPal Holdings, Inc., 1.35%, 6/1/23 | 500,000 | 509,090 | ||||||
DIVERSIFIED BANKS—3.9% | ||||||||
JPMorgan Chase & Co., 4.35%, 8/15/21 | 1,000,000 | 1,014,914 | ||||||
Wells Fargo & Co., 3.3%, 9/9/24 | 1,000,000 | 1,080,779 | ||||||
2,095,693 | ||||||||
ELECTRIC UTILITIES—0.9% | ||||||||
NextEra Energy Capital Holdings, Inc., 0.45%, 2/22/23 | 500,000 | 500,106 | ||||||
INTEGRATED TELECOMMUNICATION SERVICES—2.7% | ||||||||
Verizon Communications, Inc., 5.15%, 9/15/23 | 1,300,000 | 1,442,445 | ||||||
INVESTMENT BANKING & BROKERAGE—0.9% | ||||||||
The Goldman Sachs Group, Inc., 0.48%, 1/27/23 | 500,000 | 499,432 | ||||||
PACKAGED FOODS & MEATS—3.8% | ||||||||
Campbell Soup Co., 2.5%, 8/2/22 | 2,000,000 | 2,056,002 | ||||||
SEMICONDUCTOR EQUIPMENT—1.0% | ||||||||
KLA Corp., 4.65%, 11/1/24 | 500,000 | 559,010 | ||||||
SEMICONDUCTORS—3.0% | ||||||||
Altera Corp., 4.1%, 11/15/23 | 1,500,000 | 1,644,154 | ||||||
SPECIALIZED—2.4% | ||||||||
Crown Castle International Corp., 3.2%, 9/1/24 | 1,200,000 | 1,288,975 | ||||||
TECHNOLOGY HARDWARE STORAGE & PERIPHERALS—6.0% | ||||||||
Apple, Inc., 1.13%, 5/11/25 | 1,200,000 | 1,208,073 | ||||||
HP, Inc., 4.38%, 9/15/21 | 2,000,000 | 2,036,340 | ||||||
3,244,413 | ||||||||
TOTAL CORPORATE BONDS | ||||||||
(Cost $16,202,860) | 16,678,044 | |||||||
Total Investments (Cost $32,512,362) | 95.7 | % | $ | 52,011,515 | ||||
Unaffiliated Securities (Cost $32,512,362) | 52,011,515 | |||||||
Other Assets in Excess of Liabilities | 4.3 | % | 2,347,805 | |||||
NET ASSETS | 100.0 | % | $ | 54,359,320 |
# | American Depositary Receipts. |
* | Non-income producing security. |
See Notes to Financial Statements.
- 28 -
NOTES TO FINANCIAL STATEMENTS (Unaudited)
NOTE 1 — General:
The Alger Portfolios (the “Fund”) is an open-end registered investment company organized as a business trust under the laws of the Commonwealth of Massachusetts. The Fund qualifies as an investment company as defined in Financial Accounting Standards Board Accounting Standards Codification 946-Financial Services – Investment Companies. The Fund operates as a series company currently offering seven series of shares of beneficial interest: Alger Capital Appreciation Portfolio, Alger Large Cap Growth Portfolio, Alger Growth & Income Portfolio, Alger Mid Cap Growth Portfolio, Alger Weatherbie Specialized Growth Portfolio, Alger Small Cap Growth Portfolio and Alger Balanced Portfolio (collectively the “Portfolios” and individually a “Portfolio”). Alger Capital Appreciation Portfolio, Alger Large Cap Growth Portfolio, Alger Mid Cap Growth Portfolio, Alger Weatherbie Specialized Growth Portfolio and Alger Small Cap Growth Portfolio invest primarily in equity securities and each has an investment objective of long-term capital appreciation. Alger Growth & Income Portfolio’s investment objectives are capital appreciation and current income; and it also invests primarily in equity securities. Alger Balanced Portfolio’s investment objectives are current income and long-term capital appreciation which it seeks to achieve through investing in equity and fixed-income securities. Shares of the Portfolios are available to investment vehicles for variable annuity contracts and variable life insurance policies offered by separate accounts of life insurance companies, as well as qualified pension and retirement plans.
Alger Capital Appreciation Portfolio, Alger Large Cap Growth Portfolio and Alger Mid Cap Growth Portfolio offer Class I-2 shares and Class S shares; each class has identical rights to assets and earnings except that only Class S shares have a plan of distribution and bear the related expenses. Alger Growth & Income Portfolio, Alger Weatherbie Specialized Growth Portfolio, Alger Small Cap Growth Portfolio and Alger Balanced Portfolio offer only Class I-2 shares.
NOTE 2 — Significant Accounting Policies:
(a) Investment Valuation: The Portfolios value their financial instruments at fair value using independent dealers or pricing services under policies approved by the Fund’s Board of Trustees (the “Board”). Investments held by the Portfolios 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).
Investments in money market funds and short-term securities held by the Portfolios having a remaining maturity of sixty days or less are valued at amortized cost which approximates market value.
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 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.
- 29 -
THE ALGER PORTFOLIOS
NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)
Debt securities generally trade in the over-the-counter market. Debt securities with remaining maturities of more than sixty days at the time of acquisition are valued on the basis of the last available bid prices or current market quotations provided by dealers or pricing services. In determining the value of a particular investment, pricing services may use certain information with respect to transactions in such investments, quotations from dealers, pricing matrixes, market transactions in comparable investments, various relationships observed in the market between investments and calculated yield measures based on valuation technology commonly employed in the market for such investments. Asset-backed and mortgage-backed securities are valued by independent pricing services using models that consider estimated cash flows of each tranche of the security, establish a benchmark yield and develop an estimated tranche-specific spread to the benchmark yield based on the unique attributes of the tranche. Debt securities with a remaining maturity of sixty days or less are valued at amortized cost which approximates market value.
Securities for which market quotations are not readily available are valued at fair value, as determined in good faith pursuant to procedures established by the Board and described further herein.
Securities in which the Portfolios invest may be traded in foreign markets that close before the close of the NYSE. Developments that occur between the close of the foreign markets and the close of the NYSE may result in adjustments to the closing foreign prices to reflect what the Portfolios’ investment adviser, pursuant to policies established by the Board, believes to be the fair value of these securities as of the close of the NYSE. The Portfolios may also fair value securities in other situations, for example, when a particular foreign market is closed but the Portfolios are open.
FASB Accounting Standards Codification 820 – Fair Value Measurements and Disclosures (“ASC 820”) defines fair value as the price that the Portfolios 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 Portfolios. Unobservable inputs are inputs that reflect the Portfolios’ 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, interest rates, prepayment speeds, credit risk, etc.) |
• | Level 3 – significant unobservable inputs (including the Portfolios’ own assump- tions in determining the fair value of investments) |
- 30 -
THE ALGER PORTFOLIOS
NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)
The Portfolios’ 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. Inputs for Level 2 include the last trade price in the case of a halted security, an exchange-listed price which has been adjusted for fair value factors, and prices of closely related securities. Additional Level 2 inputs include an evaluated price which is based upon a compilation of observable market information such as spreads for fixed income and preferred securities. Inputs for Level 3 include, but are not limited to, revenue multiples, earnings before interest, taxes, depreciation and amortization (“EBITDA”) multiples, discount rates, time to exit and the probabilities of success of certain outcomes. Such unobservable market information may be obtained from a company’s financial statements and from industry studies, market data, and market indicators such as benchmarks and indexes. Because of the inherent uncertainty and often limited markets for restricted securities, the valuations assigned to such securities by the Portfolios may significantly differ from the valuations that would have been assigned by the Portfolios had there been an active market for such securities.
Valuation processes are determined by a Valuation Committee (“Committee”) authorized by the Board and comprised of representatives of the Portfolios’ investment adviser and officers of the Portfolios. The Committee reports its fair valuation determinations and related valuation information to the Board. The Board is responsible for approving the valuation policy and procedures.
While the Committee meets on an as-needed basis, the Committee generally meets quarterly to review and evaluate the effectiveness of the procedures for making fair value determinations. The Committee considers, among other things, the results of quarterly back testing of the fair value model for foreign securities, pricing comparisons between primary and secondary price sources, the outcome of price challenges put to the Portfolios’ pricing vendor, and variances between transactional prices and the previous day’s price.
(b) Cash and Cash Equivalents: Cash and cash equivalents include U.S. dollars, foreign cash and overnight time deposits.
NOTE 3 — Fair Value Measurements:
The major categories of securities and their respective fair value inputs are detailed in the Portfolios’ Schedule of Investments. Based upon the nature, characteristics, and risks associated with its investments as of March 31, 2021, the Portfolios has determined that presenting them by security type and sector is appropriate.
- 31 -
THE ALGER PORTFOLIOS
NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)
Alger Capital Appreciation Portfolio | TOTAL | LEVEL 1 | LEVEL 2 | LEVEL 3 | ||||||||||
COMMON STOCKS | ||||||||||||||
Communication Services | $ | 81,196,757 | $ | 81,196,757 | $ | — | $ | — | ||||||
Consumer Discretionary | 122,390,994 | 113,317,331 | 9,073,663 | — | ||||||||||
Consumer Staples | 6,486,916 | 6,486,916 | — | — | ||||||||||
Financials | 29,161,438 | 29,161,438 | — | — | ||||||||||
Healthcare | 44,897,295 | 44,897,295 | — | — | ||||||||||
Industrials | 37,375,838 | 37,375,838 | — | — | ||||||||||
Information Technology | 284,905,780 | 284,905,780 | — | — | ||||||||||
Materials | 8,401,581 | 8,401,581 | — | — | ||||||||||
TOTAL COMMON STOCKS | $ | 614,816,599 | $ | 605,742,936 | $ | 9,073,663 | $ | — | ||||||
REAL ESTATE INVESTMENT TRUST | ||||||||||||||
Real Estate | 1,975,389 | 1,975,389 | — | — | ||||||||||
SPECIAL PURPOSE VEHICLE | ||||||||||||||
Information Technology | 475,000 | — | — | 475,000 | ||||||||||
TOTAL INVESTMENTS IN SECURITIES | $ | 617,266,988 | $ | 607,718,325 | $ | 9,073,663 | $ | 475,000 |
Alger Large Cap Growth Portfolio | TOTAL | LEVEL 1 | LEVEL 2 | LEVEL 3 | ||||||||||
COMMON STOCKS | ||||||||||||||
Communication Services | $ | 53,471,779 | $ | 53,471,779 | $ | — | — | |||||||
Consumer Discretionary | 65,982,487 | 65,982,487 | — | — | ||||||||||
Consumer Staples | 7,963,306 | 7,963,306 | — | — | ||||||||||
Financials | 4,971,298 | 4,971,298 | — | |||||||||||
Healthcare | 48,643,182 | 48,643,182 | — | — | ||||||||||
Industrials | 21,445,725 | 21,445,725 | — | — | ||||||||||
Information Technology | 177,878,990 | 177,878,990 | — | — | ||||||||||
Mutual Funds | 14,012,559 | 14,012,559 | — | — | ||||||||||
TOTAL COMMON STOCKS | $ | 394,369,326 | $ | 394,369,326 | $ | — | $ | — | ||||||
REAL ESTATE INVESTMENT TRUST | ||||||||||||||
Real Estate | 8,888,277 | 8,888,277 | — | — | ||||||||||
SPECIAL PURPOSE VEHICLE | ||||||||||||||
Information Technology | 1,900,000 | — | — | 1,900,000 | ||||||||||
TOTAL INVESTMENTS IN SECURITIES | $ | 405,157,603 | $ | 403,257,603 | $ | — | $ | 1,900,000 |
Alger Growth & Income Portfolio | TOTAL | LEVEL 1 | LEVEL 2 | LEVEL 3 | ||||||||||
COMMON STOCKS | ||||||||||||||
Communication Services | $ | 4,528,159 | $ | 4,528,159 | $ | — | $ | — | ||||||
Consumer Discretionary | 2,744,151 | 2,744,151 | — | — | ||||||||||
Consumer Staples | 2,640,516 | 2,640,516 | — | — | ||||||||||
Energy | 1,017,405 | 1,017,405 | — | — | ||||||||||
Financials | 5,310,801 | 5,310,801 | — | — | ||||||||||
Healthcare | 4,792,995 | 4,792,995 | — | — | ||||||||||
Industrials | 2,328,929 | 2,328,929 | — | — | ||||||||||
Information Technology | 9,296,999 | 9,296,999 | — | — | ||||||||||
Materials | 601,529 | 601,529 | — | — | ||||||||||
Utilities | 462,344 | 462,344 | — | — | ||||||||||
TOTAL COMMON STOCKS | $ | 33,723,828 | $ | 33,723,828 | $ | — | $ | — |
- 32 -
THE ALGER PORTFOLIOS
NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)Alger Growth & Income Portfolio | TOTAL | LEVEL 1 | LEVEL 2 | LEVEL 3 | ||||||||||
MASTER LIMITED PARTNERSHIP | ||||||||||||||
Energy | 191,961 | 191,961 | — | — | ||||||||||
REAL ESTATE INVESTMENT TRUST | ||||||||||||||
Financials | 291,431 | 291,431 | — | — | ||||||||||
Real Estate | 1,556,769 | 1,556,769 | — | — | ||||||||||
TOTAL REAL ESTATE INVESTMENT TRUST | $ | 1,848,200 | $ | 1,848,200 | $ | — | $ | — | ||||||
SHORT—TERM INVESTMENTS | ||||||||||||||
204,000 | 204,000 | — | — | |||||||||||
TOTAL INVESTMENTS IN SECURITIES | $ | 35,967,989 | $ | 35,967,989 | $ | — | $ | — |
Alger Mid Cap Growth Portfolio | TOTAL | LEVEL 1 | LEVEL 2 | LEVEL 3 | ||||||||||
COMMON STOCKS | ||||||||||||||
Communication Services | $ | 11,975,915 | $ | 11,975,915 | $ | — | $ | — | ||||||
Consumer Discretionary | 37,507,928 | 33,689,737 | 3,818,191 | — | ||||||||||
Consumer Staples | 2,979,802 | 2,979,802 | — | — | ||||||||||
Exchange Traded Funds | 6,879,375 | 6,879,375 | — | — | ||||||||||
Financials | 8,719,420 | 8,719,420 | — | — | ||||||||||
Healthcare | 36,687,845 | 36,687,845 | — | — | ||||||||||
Industrials | 23,627,338 | 23,627,338 | — | — | ||||||||||
Information Technology | 60,401,826 | 60,401,826 | — | — | ||||||||||
TOTAL COMMON STOCKS | $ | 188,779,449 | $ | 184,961,258 | $ | 3,818,191 | $ | — | ||||||
PREFERRED STOCKS | ||||||||||||||
Healthcare | 25,563 | — | — | 25,563 | ||||||||||
WARRANTS | ||||||||||||||
Healthcare | 3,494,241 | — | 3,494,241 | — | ||||||||||
RIGHTS | ||||||||||||||
Healthcare | 293,318 | — | — | 293,318 | ||||||||||
REAL ESTATE INVESTMENT TRUST | ||||||||||||||
Real Estate | 8,898,345 | 8,898,345 | — | — | ||||||||||
SPECIAL PURPOSE VEHICLE | ||||||||||||||
Information Technology | 1,200,000 | — | — | 1,200,000 | ||||||||||
TOTAL INVESTMENTS IN SECURITIES | $ | 202,690,916 | $ | 193,859,603 | $ | 7,312,432 | $ | 1,518,881 |
Alger Weatherbie Specialized Growth Portfolio | TOTAL | LEVEL 1 | LEVEL 2 | LEVEL 3 | ||||||||||
COMMON STOCKS | ||||||||||||||
Consumer Discretionary | $ | 472,633 | $ | 472,633 | $ | — | $ | — | ||||||
Energy | 96,389 | 96,389 | — | — | ||||||||||
Financials | 710,987 | 710,987 | — | — | ||||||||||
Healthcare | 1,010,138 | 1,010,138 | — | — | ||||||||||
Industrials | 364,023 | 364,023 | — | — | ||||||||||
Information Technology | 690,811 | 690,811 | — | — | ||||||||||
Real Estate | 212,801 | 212,801 | — | — | ||||||||||
TOTAL COMMON STOCKS | $ | 3,557,782 | $ | 3,557,782 | $ | — | $ | — | ||||||
PREFERRED STOCKS | ||||||||||||||
Healthcare | 1,592 | — | — | 1,592 | ||||||||||
TOTAL INVESTMENTS IN SECURITIES | $ | 3,559,374 | $ | 3,557,782 | $ | — | $ | 1,592 |
- 33 -
THE ALGER PORTFOLIOS
NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)Alger Small Cap Growth Portfolio | TOTAL | LEVEL 1 | LEVEL 2 | LEVEL 3 | ||||||||||
COMMON STOCKS | ||||||||||||||
Communication Services | $ | 12,311,293 | $ | 12,311,293 | $ | — | $ | — | ||||||
Consumer Discretionary | 44,035,387 | 44,035,387 | — | — | ||||||||||
Consumer Staples | 8,479,591 | 8,479,591 | — | — | ||||||||||
Energy | 3,619,793 | 3,619,793 | — | |||||||||||
Financials | 10,815,319 | 10,815,319 | — | — | ||||||||||
Healthcare | 111,389,336 | 111,389,336 | — | — | ||||||||||
Industrials | 11,324,307 | 11,324,307 | — | — | ||||||||||
Information Technology | 86,787,430 | 86,787,430 | — | — | ||||||||||
Materials | 4,701,746 | 4,701,746 | — | — | ||||||||||
TOTAL COMMON STOCKS | $ | 293,464,202 | $ | 293,464,202 | $ | — | $ | — | ||||||
PREFERRED STOCKS | ||||||||||||||
Healthcare | 11,307 | — | — | 11,307 | ||||||||||
RIGHTS | ||||||||||||||
Healthcare | 198,603 | — | — | 198,603 | ||||||||||
REAL ESTATE INVESTMENT TRUST | ||||||||||||||
Real Estate | 3,190,589 | 3,190,589 | — | — | ||||||||||
SPECIAL PURPOSE VEHICLE | ||||||||||||||
Information Technology | 1,700,000 | — | — | 1,700,000 | ||||||||||
TOTAL INVESTMENTS IN SECURITIES | $ | 298,564,701 | $ | 296,654,791 | $ | — | $ | 1,909,910 |
Alger Balanced Portfolio | TOTAL | LEVEL 1 | LEVEL 2 | LEVEL 3 | ||||||||||
COMMON STOCKS | ||||||||||||||
Communication Services | $ | 4,441,800 | $ | 4,441,800 | $ | — | $ | — | ||||||
Consumer Discretionary | 2,709,910 | 2,709,910 | — | — | ||||||||||
Consumer Staples | 2,622,393 | 2,622,393 | — | — | ||||||||||
Energy | 1,000,365 | 1,000,365 | — | |||||||||||
Financials | 5,256,244 | 5,256,244 | — | — | ||||||||||
Healthcare | 4,699,552 | 4,699,552 | — | — | ||||||||||
Industrials | 2,290,966 | 2,290,966 | — | — | ||||||||||
Information Technology | 9,272,508 | 9,272,508 | — | — | ||||||||||
Materials | 586,924 | 586,924 | — | — | ||||||||||
Utilities | 448,523 | 448,523 | — | — | ||||||||||
TOTAL COMMON STOCKS | $ | 33,329,185 | $ | 33,329,185 | $ | — | $ | — | ||||||
MASTER LIMITED PARTNERSHIP | ||||||||||||||
Energy | 188,886 | 188,886 | — | — | ||||||||||
REAL ESTATE INVESTMENT TRUST | ||||||||||||||
Financials | 284,239 | 284,239 | — | — | ||||||||||
Real Estate | 1,531,161 | 1,531,161 | — | — | ||||||||||
TOTAL REAL ESTATE INVESTMENT TRUST | $ | 1,815,400 | $ | 1,815,400 | $ | — | $ | — |
- 34 -
THE ALGER PORTFOLIOS
NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)Alger Balanced Portfolio | TOTAL | LEVEL 1 | LEVEL 2 | LEVEL 3 | ||||||||||
CORPORATE BONDS | ||||||||||||||
Communication Services | 1,442,445 | — | 1,442,445 | — | ||||||||||
Consumer Discretionary | 501,058 | — | 501,058 | — | ||||||||||
Consumer Staples | 2,056,002 | — | 2,056,002 | — | ||||||||||
Financials | 2,595,125 | — | 2,595,125 | — | ||||||||||
Healthcare | 545,021 | — | 545,021 | — | ||||||||||
Industrials | 1,792,645 | — | 1,792,645 | — | ||||||||||
Information Technology | 5,956,667 | — | 5,956,667 | — | ||||||||||
Real Estate | 1,288,975 | — | 1,288,975 | — | ||||||||||
Utilities | 500,106 | — | 500,106 | — | ||||||||||
TOTAL CORPORATE BONDS | $ | 16,678,044 | $ | — | $ | 16,678,044 | $ | — | ||||||
TOTAL INVESTMENTS IN SECURITIES | $ | 52,011,515 | $ | 35,333,471 | $ | 16,678,044 | $ | — |
- 35 -
THE ALGER PORTFOLIOS
NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)FAIR VALUE MEASUREMENTS USING SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3) | ||||
Alger Capital Appreciation Portfolio | Special Purpose Vehicle | |||
Opening balance at January 1, 2021 | $ | 475,000 | ||
Transfers into Level 3 | — | |||
Transfers out of Level 3 | — | |||
Total gains or losses | ||||
Included in net realized gain (loss) on investments | — | |||
Included in net change in unrealized appreciation (depreciation) on investments | — | |||
Purchases and sales | ||||
Purchases | — | |||
Sales | — | |||
Closing balance at March 31, 2021 | 475,000 | |||
Net change in unrealized appreciation (depreciation) attributable to investments still held at March 31, 2021 | — |
FAIR VALUE MEASUREMENTS USING SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3) | ||||
Alger Large Cap Growth Portfolio | Special Purpose Vehicle | |||
Opening balance at January 1, 2021 | $ | 1,900,000 | ||
Transfers into Level 3 | — | |||
Transfers out of Level 3 | — | |||
Total gains or losses | ||||
Included in net realized gain (loss) on investments | — | |||
Included in net change in unrealized appreciation (depreciation) on investments | — | |||
Purchases and sales | ||||
Purchases | — | |||
Sales | — | |||
Closing balance at March 31, 2021 | 1,900,000 | |||
Net change in unrealized appreciation (depreciation) attributable to investments still held at March 31, 2021 | — |
- 36 -
THE ALGER PORTFOLIOS
NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)FAIR VALUE MEASUREMENTS USING SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3) | ||||
Alger Mid Cap Growth Portfolio | Preferred Stocks | |||
Opening balance at January 1, 2021 | $ | 25,563 | ||
Transfers into Level 3 | — | |||
Transfers out of Level 3 | — | |||
Total gains or losses | ||||
Included in net realized gain (loss) on investments | — | |||
Included in net change in unrealized appreciation (depreciation) on investments | — | |||
Purchases and sales | ||||
Purchases | — | |||
Sales | — | |||
Closing balance at March 31, 2021 | 25,563 | |||
Net change in unrealized appreciation (depreciation) attributable to investments still held at March 31, 2021 | — |
Alger Mid Cap Growth Portfolio | Rights | |||
Opening balance at January 1, 2021 | $ | 293,318 | ||
Transfers into Level 3 | — | |||
Transfers out of Level 3 | — | |||
Total gains or losses | ||||
Included in net realized gain (loss) on investments | — | |||
Included in net change in unrealized appreciation (depreciation) on investments | — | |||
Purchases and sales | ||||
Purchases | — | |||
Sales | — | |||
Closing balance at March 31, 2021 | 293,318 | |||
Net change in unrealized appreciation (depreciation) attributable to investments still held at March 31, 2021 | — |
Alger Mid Cap Growth Portfolio | Special Purpose Vehicle | |||
Opening balance at January 1, 2021 | $ | 1,200,000 | ||
Transfers into Level 3 | — | |||
Transfers out of Level 3 | — | |||
Total gains or losses | ||||
Included in net realized gain (loss) on investments | — | |||
Included in net change in unrealized appreciation (depreciation) on investments | — | |||
Purchases and sales | ||||
Purchases | — | |||
Sales | — | |||
Closing balance at March 31, 2021 | 1,200,000 | |||
Net change in unrealized appreciation (depreciation) attributable to investments still held at March 31, 2021 | — |
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THE ALGER PORTFOLIOS
NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)FAIR VALUE MEASUREMENTS USING SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3) | ||||
Alger Weatherbie Specialized Growth Portfolio | Preferred Stocks | |||
Opening balance at January 1, 2021 | $ | 1,592 | ||
Transfers into Level 3 | — | |||
Transfers out of Level 3 | — | |||
Total gains or losses | ||||
Included in net realized gain (loss) on investments | — | |||
Included in net change in unrealized appreciation (depreciation) on investments | — | |||
Purchases and sales | ||||
Purchases | — | |||
Sales | — | |||
Closing balance at March 31, 2021 | 1,592 | |||
Net change in unrealized appreciation (depreciation) attributable to investments still held at March 31, 2021 | — |
FAIR VALUE MEASUREMENTS USING SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3) | ||||
Alger Small Cap Growth Portfolio | Preferred Stocks | |||
Opening balance at January 1, 2021 | $ | 11,307 | ||
Transfers into Level 3 | — | |||
Transfers out of Level 3 | — | |||
Total gains or losses | ||||
Included in net realized gain (loss) on investments | — | |||
Included in net change in unrealized appreciation (depreciation) on investments | — | |||
Purchases and sales | ||||
Purchases | — | |||
Sales | — | |||
Closing balance at March 31, 2021 | 11,307 | |||
Net change in unrealized appreciation (depreciation) attributable to investments still held at March 31, 2021 | — |
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THE ALGER PORTFOLIOS
NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)FAIR VALUE MEASUREMENTS USING SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3) | ||||
Alger Small Cap Growth Portfolio | Rights | |||
Opening balance at January 1, 2021 | $ | 198,603 | ||
Transfers into Level 3 | — | |||
Transfers out of Level 3 | — | |||
Total gains or losses | ||||
Included in net realized gain (loss) on investments | — | |||
Included in net change in unrealized appreciation (depreciation) on investments | — | |||
Purchases and sales | ||||
Purchases | — | |||
Sales | — | |||
Closing balance at March 31, 2021 | 198,603 | |||
Net change in unrealized appreciation (depreciation) attributable to investments still held at March 31, 2021 | — |
Alger Small Cap Growth Portfolio | Special Purpose Vehicle | |||
Opening balance at January 1, 2021 | $ | 1,700,000 | ||
Transfers into Level 3 | — | |||
Transfers out of Level 3 | — | |||
Total gains or losses | ||||
Included in net realized gain (loss) on investments | — | |||
Included in net change in unrealized appreciation (depreciation) on investments | — | |||
Purchases and sales | ||||
Purchases | — | |||
Sales | — | |||
Closing balance at March 31, 2021 | 1,700,000 | |||
Net change in unrealized appreciation (depreciation) attributable to investments still held at March 31, 2021 | — |
The following table provides quantitative information about the Portfolios’ Level 3 fair value measurements of the Portfolios’ investments as of March 31, 2021. The table below is not intended to be all-inclusive, but rather provides information on the Level 3 inputs as they relate to the Portfolios’ fair value measurements.
Fair Value March 31, 2021 | Valuation Methodology | Unobservable Input | Input/Range | Weighted Average | ||||||||||
Alger Capital Appreciation Portfolio | ||||||||||||||
Special Purpose Vehicle | 475,000 | Cost Approach | Priced at Cost | N/A | N/A | |||||||||
Alger Large Cap Growth Portfolio | ||||||||||||||
Special Purpose Vehicle | 1,900,000 | Cost Approach | Priced at Cost | N/A | N/A |
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THE ALGER PORTFOLIOS
NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)Fair Value March 31, 2021 | Valuation Methodology | Unobservable Input | Input/Range | Weighted Average | ||||||||||
Alger Mid Cap Growth Portfolio | ||||||||||||||
Preferred Stocks | 25,563 | Income Approach | Discount Rate | 72.50%-77.50 | % | N/A | ||||||||
Rights | 293,318 | Income Approach | Discount Rate | 3.89%-4.77 | % | N/A | ||||||||
Probability of Success | 0.00%-60.00 | % | N/A | |||||||||||
Special Purpose Vehicle | 1,200,000 | Cost Approach | Priced at Cost | N/A | N/A | |||||||||
Alger Weatherbie Specialized Growth | ||||||||||||||
Preferred Stocks | $ | 1,592 | Income Approach | Discount Rate | 72.50%-77.50 | % | N/A | |||||||
Alger Small Cap Growth Portfolio | ||||||||||||||
Preferred Stocks | $ | 11,307 | Income Approach | Discount Rate | 72.50%-77.50 | % | N/A | |||||||
Rights | 198,603 | Income Approach | Discount Rate | 3.89%-4.77 | % | N/A | ||||||||
Probability of Success | 0.00%-60.00 | % | N/A | |||||||||||
Special Purpose Vehicle | 1,700,000 | Cost Approach | Priced at Cost | N/A | N/A |
The significant unobservable inputs used in the fair value measurement of the Portfolios’ securities are revenue and EBITDA multiples, discount rates, and the probabilities of success of certain outcomes. Significant increases and decreases in these inputs in isolation and interrelationships between these inputs would have resulted in significantly higher or lower fair value measurements than those noted in the table above. Generally, all other things being equal, increases in revenue and EBITDA multiples, decreases in discount rates, and increases in the probabilities of success result in higher fair value measurements, whereas decreases in revenues and EBITDA multiples, increases in discount rates, and decreases in the probabilities of success result in lower fair value measurements.
Certain of the Portfolios’ assets and liabilities are held at carrying amount or face value, which approximates fair value for financial statements purposes. As of March 31, 2021, 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 Capital Appreciation Portfolio | $ | (286,539 | ) | $ | (286,539 | ) | $ | — | $ | — | ||||||
Alger Large Cap Growth Portfolio | 3,744,081 | — | 3,744,081 | — | ||||||||||||
Alger Mid Cap Growth Portfolio | 1,141,737 | — | 1,141,737 | — | ||||||||||||
Alger Growth & Income Portfolio | 193,827 | — | 193,827 | — | ||||||||||||
Collateral on securities loaned | 204,000 | — | 204,000 | — | ||||||||||||
Alger Weatherbie Specialized Growth Portfolio | 45,476 | — | 45,476 | — | ||||||||||||
Alger Small Cap Growth Portfolio | 1,492,158 | — | 1,492,158 | — | ||||||||||||
Alger Balanced Portfolio | 2,315,581 | — | 2,315,581 | — | ||||||||||||
Total | $ | 8,850,321 | $ | (286,539 | ) | $ | 9,136,860 | $ | — |
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THE ALGER PORTFOLIOS
NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)NOTE 4 — Derivatives:
FASB Accounting Standards Codification 815 – Derivatives and Hedging (“ASC 815”) requires qualitative disclosures about objectives and strategies for using derivatives, quantitative disclosures about fair value amounts of and gains and losses on derivative instruments, and disclosures about credit-risk-related contingent features in derivative agreements.
Options—The Portfolios seek to capture the majority of the returns associated with equity market investments. To meet this investment goal, the Portfolios invest in a broadly diversified portfolio of common stocks and may also buy and sell call and put options on equities and equity indexes. The Portfolios may purchase call options to increase its exposure to the stock market and also provide diversification of risk. The Portfolios may purchase put options in order to protect from significant market declines that may occur over a short period of time. The Portfolios may write covered call and cash-secured put options to generate cash flows while reducing the volatility of the portfolios. The cash flows may be an important source of the Portfolios’ return, although written call options may reduce the Portfolios’ ability to profit from increases in the value of the underlying security or equity portfolio. The value of a call option generally increases as the price of the underlying stock increases and decreases as the stock decreases in price. Conversely, the value of a put option generally increases as the price of the underlying stock decreases and decreases as the stock increases in price. The combination of the diversified stock portfolio and the purchase and sale of options is intended to provide the Portfolios with the majority of the returns associated with equity market investments but with reduced volatility and returns that are augmented with the cash flows from the sale of options.
There were no options or other derivative instruments held by the Portfolios throughout the period or as of March 31, 2021.
NOTE 5 — Affiliated Securities:
The issuers of the securities listed below are deemed to be affiliates of the Portfolios because the Portfolios or their affiliates owned 5% or more of the issuer’s voting securities during all or part of the period ended March 31, 2021. Information regarding the Portfolios’ holdings of such securities is set forth in the following table:
Security | Value at December 31, 2020 | Purchases/ Conversion | Sales/ Conversion | Dividend/ Interest Income | Realized Gain (Loss) | Net Change in Unrealized App(Dep) | Value at March 31, 2021 | |||||||||||||||||||||
Alger Capital Appreciation Portfolio | ||||||||||||||||||||||||||||
Special Purpose Vehicle | ||||||||||||||||||||||||||||
Crosslink Ventures Capital LLC, | ||||||||||||||||||||||||||||
Cl. A | $ | 475,000 | $ | – | $ | – | $ | – | $ | – | $ | – | $ | 475,000 | ||||||||||||||
Total | $ | 475,000 | $ | – | $ | – | $ | – | $ | – | $ | – | $ | 475,000 |
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THE ALGER PORTFOLIOS
NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)Security | Value at December 31, 2020 | Purchases/ Conversion | Sales/ Conversion | Dividend/ Interest Income | Realized Gain (Loss) | Net Change in Unrealized App(Dep) | Value at March 31, 2021 | |||||||||||||||||||||
Alger Large Cap Growth Portfolio | ||||||||||||||||||||||||||||
Common Stocks | ||||||||||||||||||||||||||||
Alger 25 Fund, Cl. P | $ | 13,794,828 | $ | – | $ | – | $ | – | $ | – | $ | 217,731 | $ | 14,012,559 | ||||||||||||||
Special Purpose Vehicle | ||||||||||||||||||||||||||||
Crosslink Ventures Capital LLC, | ||||||||||||||||||||||||||||
Cl. A | 1,900,000 | $ | – | $ | – | $ | – | $ | – | $ | – | $ | 1,900,000 | |||||||||||||||
Total | $ | 15,694,828 | $ | – | $ | – | $ | – | $ | – | $ | 217,731 | $ | 15,912,559 |
Security | Value at December 31, 2020 | Purchases/ Conversion | Sales/ Conversion | Dividend/ Interest Income | Realized Gain (Loss) | Net Change in Unrealized App(Dep) | Value at March 31, 2021 | |||||||||||||||||||||
Alger Mid Cap Growth Portfolio | ||||||||||||||||||||||||||||
Common Stocks | ||||||||||||||||||||||||||||
Alger Mid Cap 40 ETF Preferred Stocks Prosetta Biosciences, Inc. | $ | – | $ | 7,074,371 | $ | (28,926 | ) | $ | – | $ | (611 | ) | $ | (165,459 | ) | $ | 6,879,375 | |||||||||||
Series D | 25,563 | – | – | – | – | – | 25,563 | |||||||||||||||||||||
Special Purpose Vehicle | ||||||||||||||||||||||||||||
Crosslink Ventures Capital LLC, Cl. A | 875,000 | – | – | – | – | – | 875,000 | |||||||||||||||||||||
Crosslink Ventures Capital LLC, Cl. B | 325,000 | $ | – | $ | – | $ | – | $ | – | $ | – | $ | 325,000 | |||||||||||||||
Total | $ | 1,225,563 | $ | 7,074,371 | $ | (28,926 | ) | $ | – | $ | (611 | ) | $ | (165,459 | ) | $ | 8,104,938 |
Security | Value at December 31, 2020 | Purchases/ Conversion | Sales/ Conversion | Dividend/ Interest Income | Realized Gain (Loss) | Net Change in Unrealized App(Dep) | Value at March 31, 2021 | |||||||||||||||||||||
Alger Weatherbie Specialized Growth Portfolio | ||||||||||||||||||||||||||||
Preferred Stocks | ||||||||||||||||||||||||||||
Prosetta Biosciences, Inc. | ||||||||||||||||||||||||||||
Series D | $ | 1,592 | $ | – | $ | – | $ | – | $ | – | $ | – | $ | 1,592 | ||||||||||||||
Total | $ | 1,592 | $ | – | $ | – | $ | – | $ | – | $ | – | $ | 1,592 |
Security | Value at December 31, 2020 | Purchases/ Conversion | Sales/ Conversion | Dividend/ Interest Income | Realized Gain (Loss) | Net Change in Unrealized App(Dep) | Value at March 31, 2021 | |||||||||||||||||||||
Alger Small Cap Growth Portfolio | ||||||||||||||||||||||||||||
Preferred Stocks | ||||||||||||||||||||||||||||
Prosetta Biosciences, Inc. | ||||||||||||||||||||||||||||
Series D Special Purpose Vehicle | $ | 11,307 | | $ | – | $ | – | $ | – | $ | – | $ | – | $ | 11,307 | |||||||||||||
Crosslink Ventures Capital LLC, Cl. A | 1,400,000 | – | – | – | – | – | 1,400,000 | |||||||||||||||||||||
Crosslink Ventures Capital LLC, Cl. B | 300,000 | $ | – | $ | – | $ | – | $ | – | $ | – | $ | 300,000 | |||||||||||||||
Total | $ | 1,711,307 | $ | – | $ | – | | $ | – | $ | – | $ | – | | $ | 1,711,307 |
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