THE ALGER PORTFOLIOS
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
Alger Balanced Portfolio
QUARTERLY REPORT
SEPTEMBER 30, 2021
THE ALGER PORTFOLIOS | ALGER CAPITAL APPRECIATION PORTFOLIO |
Schedule of Investments September 30, 2021 (Unaudited)
COMMON STOCKS—98.4% | SHARES | VALUE | ||||||
AEROSPACE & DEFENSE—1.6% | ||||||||
TransDigm Group, Inc.* | 17,003 | $ | 10,619,564 | |||||
AIR FREIGHT & LOGISTICS—0.3% | ||||||||
GXO Logistics, Inc.* | 27,754 | 2,177,024 | ||||||
AIRLINES—0.6% | ||||||||
Delta Air Lines, Inc.* | 94,981 | 4,047,140 | ||||||
APPAREL ACCESSORIES & LUXURY GOODS—1.7% | ||||||||
Capri Holdings Ltd.* | 90,652 | 4,388,463 | ||||||
Lululemon Athletica, Inc.* | 9,640 | 3,901,308 | ||||||
LVMH Moet Hennessy Louis Vuitton SE | 3,706 | 2,655,048 | ||||||
10,944,819 | ||||||||
APPLICATION SOFTWARE—9.4% | ||||||||
Adobe, Inc.* | 41,274 | 23,762,267 | ||||||
Anaplan, Inc.* | 11,400 | 694,146 | ||||||
Bill.com Holdings, Inc.* | 14,814 | 3,954,597 | ||||||
Cadence Design Systems, Inc.* | 33,379 | 5,054,916 | ||||||
Five9, Inc.* | 16,986 | 2,713,344 | ||||||
Intuit, Inc. | 19,189 | 10,352,657 | ||||||
salesforce.com, Inc.* | 49,470 | 13,417,253 | ||||||
Unity Software, Inc.* | 10,355 | 1,307,319 | ||||||
61,256,499 | ||||||||
AUTOMOBILE MANUFACTURERS—3.3% | ||||||||
General Motors Co.* | 64,660 | 3,408,229 | ||||||
Tesla, Inc.* | 23,417 | 18,159,415 | ||||||
21,567,644 | ||||||||
AUTOMOTIVE RETAIL—1.5% | ||||||||
Carvana Co., Cl. A* | 7,492 | 2,259,138 | ||||||
Lithia Motors, Inc., Cl. A | 23,473 | 7,441,880 | ||||||
9,701,018 | ||||||||
BIOTECHNOLOGY—1.3% | ||||||||
Horizon Therapeutics PLC* | 28,843 | 3,159,462 | ||||||
Natera, Inc.* | 25,500 | 2,841,720 | ||||||
Novavax, Inc.* | 11,965 | 2,480,464 | ||||||
8,481,646 | ||||||||
CASINOS & GAMING—2.4% | ||||||||
DraftKings, Inc., Cl. A* | 46,561 | 2,242,378 | ||||||
Flutter Entertainment PLC* | 23,925 | 4,746,113 | ||||||
MGM Resorts International | 197,625 | 8,527,519 | ||||||
15,516,010 | ||||||||
CONSUMER FINANCE—1.3% | ||||||||
Upstart Holdings, Inc.* | 26,704 | 8,450,214 | ||||||
DATA PROCESSING & OUTSOURCED SERVICES—7.5% | ||||||||
PayPal Holdings, Inc.* | 56,114 | 14,601,424 | ||||||
Square, Inc., Cl. A* | 36,118 | 8,662,541 | ||||||
Visa, Inc., Cl. A | 115,453 | 25,717,156 | ||||||
48,981,121 | ||||||||
DIVERSIFIED BANKS—0.3% | ||||||||
Bank of America Corp. | 39,790 | 1,689,085 |
- 2 -
THE ALGER PORTFOLIOS | ALGER CAPITAL APPRECIATION PORTFOLIO |
Schedule of Investments September 30, 2021 (Unaudited) (Continued)
COMMON STOCKS—98.4% (CONT.) | SHARES | VALUE | ||||||
DIVERSIFIED SUPPORT SERVICES—0.6% | ||||||||
Cintas Corp. | 9,913 | $ | 3,773,483 | |||||
ELECTRICAL COMPONENTS & EQUIPMENT—1.1% | ||||||||
AMETEK, Inc. | 16,631 | 2,062,410 | ||||||
Eaton Corp. PLC | 32,571 | 4,863,176 | ||||||
6,925,586 | ||||||||
FINANCIAL EXCHANGES & DATA—1.1% | ||||||||
CME Group, Inc., Cl. A | 1,526 | 295,098 | ||||||
S&P Global, Inc. | 15,952 | 6,777,845 | ||||||
7,072,943 | ||||||||
FOOTWEAR—0.8% | ||||||||
NIKE, Inc., Cl. B | 35,246 | 5,118,777 | ||||||
GENERAL MERCHANDISE STORES—0.6% | ||||||||
Target Corp. | 16,233 | 3,713,623 | ||||||
HEALTHCARE EQUIPMENT—4.2% | ||||||||
Danaher Corp. | 45,326 | 13,799,048 | ||||||
Dexcom, Inc.* | 5,328 | 2,913,670 | ||||||
Intuitive Surgical, Inc.* | 6,787 | 6,747,296 | ||||||
Medtronic PLC | 30,649 | 3,841,852 | ||||||
27,301,866 | ||||||||
HEALTHCARE SERVICES—0.2% | ||||||||
Guardant Health, Inc.* | 11,464 | 1,433,115 | ||||||
HEALTHCARE SUPPLIES—0.8% | ||||||||
Align Technology, Inc.* | 7,637 | 5,081,889 | ||||||
HEALTHCARE TECHNOLOGY—0.1% | ||||||||
Doximity, Inc., Cl. A* | 10,415 | 840,490 | ||||||
HOME IMPROVEMENT RETAIL—0.5% | ||||||||
Lowe's Cos., Inc. | 17,449 | 3,539,704 | ||||||
HOTELS RESORTS & CRUISE LINES—0.7% | ||||||||
Expedia Group, Inc.* | 26,524 | 4,347,284 | ||||||
INTERACTIVE HOME ENTERTAINMENT—1.9% | ||||||||
Sea Ltd.#,* | 28,431 | 9,061,813 | ||||||
Take-Two Interactive Software, Inc.* | 21,603 | 3,328,374 | ||||||
12,390,187 | ||||||||
INTERACTIVE MEDIA & SERVICES—8.7% | ||||||||
Alphabet, Inc., Cl. C* | 12,799 | 34,113,303 | ||||||
Facebook, Inc., Cl. A* | 26,284 | 8,920,527 | ||||||
Pinterest, Inc., Cl. A* | 21,026 | 1,071,275 | ||||||
Snap, Inc., Cl. A* | 167,689 | 12,387,186 | ||||||
56,492,291 | ||||||||
INTERNET & DIRECT MARKETING RETAIL—7.6% | ||||||||
Amazon.com, Inc.* | 14,057 | 46,177,807 | ||||||
Global-e Online Ltd.* | 22,628 | 1,624,690 | ||||||
MercadoLibre, Inc.* | 1,152 | 1,934,669 | ||||||
49,737,166 |
- 3 -
THE ALGER PORTFOLIOS | ALGER CAPITAL APPRECIATION PORTFOLIO |
Schedule of Investments September 30, 2021 (Unaudited) (Continued)
COMMON STOCKS—98.4% (CONT.) | SHARES | VALUE | ||||||
INTERNET SERVICES & INFRASTRUCTURE—3.2% | ||||||||
Okta, Inc., Cl. A* | 4,351 | $ | 1,032,666 | |||||
Shopify, Inc., Cl. A* | 6,962 | 9,438,940 | ||||||
Snowflake, Inc., Cl. A* | 8,076 | 2,442,425 | ||||||
Twilio, Inc., Cl. A* | 24,321 | 7,759,615 | ||||||
20,673,646 | ||||||||
INVESTMENT BANKING & BROKERAGE—0.7% | ||||||||
Morgan Stanley | 44,428 | 4,323,289 | ||||||
LEISURE FACILITIES—0.5% | ||||||||
Vail Resorts, Inc.* | 10,293 | 3,438,377 | ||||||
LIFE SCIENCES TOOLS & SERVICES—0.3% | ||||||||
Thermo Fisher Scientific, Inc. | 3,399 | 1,941,951 | ||||||
MANAGED HEALTHCARE—0.9% | ||||||||
UnitedHealth Group, Inc. | 14,957 | 5,844,298 | ||||||
MOVIES & ENTERTAINMENT—2.5% | ||||||||
Live Nation Entertainment, Inc.* | 85,665 | 7,806,651 | ||||||
Netflix, Inc.* | 5,333 | 3,254,943 | ||||||
Roku, Inc., Cl. A* | 17,508 | 5,486,132 | ||||||
16,547,726 | ||||||||
PERSONAL PRODUCTS—0.4% | ||||||||
The Estee Lauder Cos., Inc., Cl. A | 8,019 | 2,405,139 | ||||||
PHARMACEUTICALS—0.7% | ||||||||
Eli Lilly & Co. | 7,685 | 1,775,619 | ||||||
Zoetis, Inc., Cl. A | 14,943 | 2,901,034 | ||||||
4,676,653 | ||||||||
RAILROADS—0.6% | ||||||||
Union Pacific Corp. | 18,391 | 3,604,820 | ||||||
REGIONAL BANKS—0.9% | ||||||||
Signature Bank | 21,581 | 5,876,075 | ||||||
RESTAURANTS—1.8% | ||||||||
Chipotle Mexican Grill, Inc., Cl. A* | 3,260 | 5,925,115 | ||||||
Starbucks Corp. | 54,361 | 5,996,562 | ||||||
11,921,677 | ||||||||
SEMICONDUCTOR EQUIPMENT—1.7% | ||||||||
Applied Materials, Inc. | 74,844 | 9,634,668 | ||||||
Enphase Energy, Inc.* | 7,256 | 1,088,182 | ||||||
SolarEdge Technologies, Inc.* | 2,350 | 623,267 | ||||||
11,346,117 | ||||||||
SEMICONDUCTORS—6.6% | ||||||||
Advanced Micro Devices, Inc.* | 101,330 | 10,426,857 | ||||||
Micron Technology, Inc. | 27,577 | 1,957,415 | ||||||
NVIDIA Corp. | 69,840 | 14,468,054 | ||||||
NXP Semiconductors NV | 8,625 | 1,689,379 | ||||||
QUALCOMM, Inc. | 76,459 | 9,861,682 | ||||||
Taiwan Semiconductor Manufacturing Co., Ltd.# | 43,006 | 4,801,620 | ||||||
43,205,007 |
- 4 -
THE ALGER PORTFOLIOS | ALGER CAPITAL APPRECIATION PORTFOLIO |
Schedule of Investments September 30, 2021 (Unaudited) (Continued)
COMMON STOCKS—98.4% (CONT.) | SHARES | VALUE | ||||||
SYSTEMS SOFTWARE—11.6% | ||||||||
Crowdstrike Holdings, Inc., Cl. A* | 19,269 | $ | 4,735,935 | |||||
Microsoft Corp. | 233,176 | 65,736,978 | ||||||
Palo Alto Networks, Inc.* | 1,663 | 796,577 | ||||||
ServiceNow, Inc.* | 6,654 | 4,140,584 | ||||||
75,410,074 | ||||||||
TECHNOLOGY HARDWARE STORAGE & PERIPHERALS—4.8% | ||||||||
Apple, Inc. | 219,088 | 31,000,952 | ||||||
TRUCKING—0.9% | ||||||||
Uber Technologies, Inc.* | 74,339 | 3,330,387 | ||||||
XPO Logistics, Inc.* | 27,754 | 2,208,664 | ||||||
5,539,051 | ||||||||
WIRELESS TELECOMMUNICATION SERVICES—0.2% | ||||||||
T-Mobile US, Inc.* | 10,747 | 1,373,037 | ||||||
TOTAL COMMON STOCKS | ||||||||
(Cost $402,192,156) | 640,328,077 | |||||||
REAL ESTATE INVESTMENT TRUST—0.4% | SHARES | VALUE | ||||||
RETAIL—0.4% | ||||||||
Simon Property Group, Inc. | 22,807 | 2,964,226 | ||||||
(Cost $2,538,531) | 2,964,226 | |||||||
SPECIAL PURPOSE VEHICLE—0.2% | SHARES | VALUE | ||||||
DATA PROCESSING & OUTSOURCED SERVICES—0.2% | ||||||||
Chime Financial, Inc., Series G*,@ | 6,689 | 462,008 | ||||||
Crosslink Ventures Capital LLC, Cl. A*,@,(a),(b) | 19 | 760,532 | ||||||
1,222,540 | ||||||||
TOTAL SPECIAL PURPOSE VEHICLE | ||||||||
(Cost $937,008) | 1,222,540 | |||||||
Total Investments | ||||||||
(Cost $405,667,695) | 99.0 | % | $ | 644,514,843 | ||||
Affiliated Securities (Cost $475,000) | 760,532 | |||||||
Unaffiliated Securities (Cost $405,192,695) | 643,754,311 | |||||||
Other Assets in Excess of Liabilities | 1.0 | % | 6,463,996 | |||||
NET ASSETS | 100.0 | % | $ | 650,978,839 |
# | American Depositary Receipts. |
* | Non-income producing security. |
(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. |
@ | 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. |
- 5 -
THE ALGER PORTFOLIOS | ALGER CAPITAL APPRECIATION PORTFOLIO |
Schedule of Investments September 30, 2021 (Unaudited) (Continued)
Security | Acquisition Date(s) | Acquisition Cost | % of net assets (Acquisition Date) | Market Value | % of net assets as of 9/30/2021 | |||||||||||||
Chime Financial, Inc. | 8/24/21 | $ | 462,008 | 0.07 | % | $ | 462,008 | 0.07 | % | |||||||||
Crosslink Ventures Capital LLC, Cl. A | 10/2/20 | 475,000 | 0.08 | % | 760,532 | 0.12 | % | |||||||||||
Total | $ | 1,222,540 | 0.19 | % | ||||||||||||||
See Notes to Financial Statements.
- 6 -
THE ALGER PORTFOLIOS | ALGER LARGE CAP GROWTH PORTFOLIO |
Schedule of Investments September 30, 2021 (Unaudited)
COMMON STOCKS—96.4% | SHARES | VALUE | ||||||
AEROSPACE & DEFENSE—2.4% | ||||||||
HEICO Corp. | 78,722 | $ | 10,381,070 | |||||
APPLICATION SOFTWARE—7.0% | ||||||||
Adobe, Inc.* | 27,629 | 15,906,568 | ||||||
Bill.com Holdings, Inc.* | 5,464 | 1,458,615 | ||||||
Coupa Software, Inc.* | 7,401 | 1,622,151 | ||||||
Datadog, Inc., Cl. A* | 40,500 | 5,724,675 | ||||||
DocuSign, Inc., Cl. A* | 4,744 | 1,221,248 | ||||||
Paycom Software, Inc.* | 8,168 | 4,049,286 | ||||||
29,982,543 | ||||||||
AUTOMOBILE MANUFACTURERS—3.3% | ||||||||
Tesla, Inc.* | 18,101 | 14,036,964 | ||||||
BIOTECHNOLOGY—1.4% | ||||||||
Natera, Inc.* | 38,959 | 4,341,591 | ||||||
Novavax, Inc.* | 8,972 | 1,859,985 | ||||||
6,201,576 | ||||||||
CASINOS & GAMING—2.7% | ||||||||
DraftKings, Inc., Cl. A* | 58,909 | 2,837,057 | ||||||
MGM Resorts International | 209,320 | 9,032,158 | ||||||
11,869,215 | ||||||||
DATA PROCESSING & OUTSOURCED SERVICES—8.8% | ||||||||
PayPal Holdings, Inc.* | 54,481 | 14,176,501 | ||||||
Square, Inc., Cl. A* | 46,420 | 11,133,373 | ||||||
Visa, Inc., Cl. A | 56,040 | 12,482,910 | ||||||
37,792,784 | ||||||||
DIVERSIFIED BANKS—0.6% | ||||||||
Wells Fargo & Co. | 52,802 | 2,450,541 | ||||||
DIVERSIFIED SUPPORT SERVICES—0.8% | ||||||||
Cintas Corp. | 8,905 | 3,389,777 | ||||||
ELECTRONIC EQUIPMENT & INSTRUMENTS—1.1% | ||||||||
Teledyne Technologies, Inc.* | 10,626 | 4,564,717 | ||||||
FINANCIAL EXCHANGES & DATA—0.2% | ||||||||
MarketAxess Holdings, Inc. | 1,988 | 836,332 | ||||||
FOOTWEAR—0.7% | ||||||||
NIKE, Inc., Cl. B | 20,056 | 2,912,733 | ||||||
HEALTHCARE EQUIPMENT—5.3% | ||||||||
Danaher Corp. | 21,476 | 6,538,153 | ||||||
Dexcom, Inc.* | 14,217 | 7,774,709 | ||||||
Intuitive Surgical, Inc.* | 8,721 | 8,669,982 | ||||||
22,982,844 | ||||||||
HEALTHCARE SERVICES—1.0% | ||||||||
Guardant Health, Inc.* | 34,219 | 4,277,717 | ||||||
HEALTHCARE TECHNOLOGY—1.3% | ||||||||
Veeva Systems, Inc., Cl. A* | 20,007 | 5,765,417 | ||||||
INTERACTIVE MEDIA & SERVICES—8.4% | ||||||||
Alphabet, Inc., Cl. C* | 9,455 | 25,200,506 | ||||||
Pinterest, Inc., Cl. A* | 142,811 | 7,276,221 | ||||||
Snap, Inc., Cl. A* | 51,646 | 3,815,090 | ||||||
36,291,817 |
- 7 -
THE ALGER PORTFOLIOS | ALGER LARGE CAP GROWTH PORTFOLIO |
Schedule of Investments September 30, 2021 (Unaudited) (Continued)
COMMON STOCKS—96.4% (CONT.) | SHARES | VALUE | ||||||
INTERNET & DIRECT MARKETING RETAIL—7.6% | ||||||||
Amazon.com, Inc.* | 8,878 | $ | 29,164,585 | |||||
MercadoLibre, Inc.* | 2,058 | 3,456,205 | ||||||
32,620,790 | ||||||||
INTERNET SERVICES & INFRASTRUCTURE—4.6% | ||||||||
Shopify, Inc., Cl. A* | 14,618 | 19,818,792 | ||||||
LEISURE FACILITIES—0.8% | ||||||||
Vail Resorts, Inc.* | 10,467 | 3,496,501 | ||||||
LIFE SCIENCES TOOLS & SERVICES—3.7% | ||||||||
10X Genomics, Inc., Cl. A* | 14,508 | 2,112,075 | ||||||
Avantor, Inc.* | 56,584 | 2,314,286 | ||||||
Bio-Techne Corp. | 24,111 | 11,683,467 | ||||||
16,109,828 | ||||||||
MOVIES & ENTERTAINMENT—1.3% | ||||||||
Netflix, Inc.* | 3,139 | 1,915,857 | ||||||
Roku, Inc., Cl. A* | 11,981 | 3,754,247 | ||||||
5,670,104 | ||||||||
MUTUAL FUNDS—3.7% | ||||||||
Alger 35 ETF*,(a) | 364,137 | 7,650,955 | ||||||
Alger 35 Fund, Cl. Z(a) | 410,979 | 8,145,601 | ||||||
15,796,556 | ||||||||
PHARMACEUTICALS—2.2% | ||||||||
Catalent, Inc.* | 71,431 | 9,505,323 | ||||||
REGIONAL BANKS—1.1% | ||||||||
Signature Bank | 17,350 | 4,724,058 | ||||||
RESEARCH & CONSULTING SERVICES—1.5% | ||||||||
CoStar Group, Inc.* | 74,670 | 6,426,100 | ||||||
RESTAURANTS—0.2% | ||||||||
Starbucks Corp. | 7,929 | 874,648 | ||||||
SEMICONDUCTOR EQUIPMENT—8.4% | ||||||||
Applied Materials, Inc. | 134,322 | 17,291,271 | ||||||
Enphase Energy, Inc.* | 11,786 | 1,767,546 | ||||||
Lam Research Corp. | 22,469 | 12,788,231 | ||||||
SolarEdge Technologies, Inc.* | 16,816 | 4,459,940 | ||||||
36,306,988 | ||||||||
SEMICONDUCTORS—4.7% | ||||||||
Advanced Micro Devices, Inc.* | 40,006 | 4,116,618 | ||||||
NVIDIA Corp. | 56,240 | 11,650,678 | ||||||
Taiwan Semiconductor Manufacturing Co., Ltd.# | 39,340 | 4,392,311 | ||||||
20,159,607 | ||||||||
SYSTEMS SOFTWARE—7.3% | ||||||||
Crowdstrike Holdings, Inc., Cl. A* | 25,995 | 6,389,051 | ||||||
Microsoft Corp. | 89,435 | 25,213,515 | ||||||
31,602,566 | ||||||||
TECHNOLOGY HARDWARE STORAGE & PERIPHERALS—4.3% | ||||||||
Apple, Inc. | 131,963 | 18,672,765 | ||||||
TOTAL COMMON STOCKS | ||||||||
(Cost $291,772,426) | 415,520,673 |
- 8 -
THE ALGER PORTFOLIOS | ALGER LARGE CAP GROWTH PORTFOLIO |
Schedule of Investments September 30, 2021 (Unaudited) (Continued)
REAL ESTATE INVESTMENT TRUST—2.0% | SHARES | VALUE | ||||||
SPECIALIZED—2.0% | ||||||||
Crown Castle International Corp. | 49,166 | $ | 8,521,451 | |||||
(Cost $8,002,508) | 8,521,451 | |||||||
SPECIAL PURPOSE VEHICLE—0.7% | SHARES | VALUE | ||||||
DATA PROCESSING & OUTSOURCED SERVICES—0.7% | ||||||||
Crosslink Ventures Capital LLC, Cl. A*,@,(a),(b) | 76 | 3,042,128 | ||||||
(Cost $1,900,000) | 3,042,128 | |||||||
Total Investments | ||||||||
(Cost $301,674,934) | 99.1 | % | $ | 427,084,252 | ||||
Affiliated Securities (Cost $14,416,500) | 18,838,684 | |||||||
Unaffiliated Securities (Cost $287,258,434) | 408,245,568 | |||||||
Other Assets in Excess of Liabilities | 0.9 | % | 3,710,553 | |||||
NET ASSETS | 100.0 | % | $ | 430,794,805 |
(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 9/30/2021 | |||||||||||||
Crosslink Ventures Capital LLC, Cl. A | 10/2/20 | $ | 1,900,000 | 0.51 | % | $ | 3,042,128 | 0.71 | % | |||||||||
Total | $ | 3,042,128 | 0.71 | % |
See Notes to Financial Statements.
- 9 -
THE ALGER PORTFOLIOS | ALGER GROWTH & INCOME PORTFOLIO |
Schedule of Investments September 30, 2021 (Unaudited)
COMMON STOCKS—94.2% | SHARES | VALUE | ||||||
AEROSPACE & DEFENSE—1.5% | ||||||||
General Dynamics Corp. | 1,038 | $ | 203,479 | |||||
Raytheon Technologies Corp. | 2,312 | 198,740 | ||||||
TransDigm Group, Inc.* | 291 | 181,750 | ||||||
583,969 | ||||||||
ASSET MANAGEMENT & CUSTODY BANKS—4.3% | ||||||||
BlackRock, Inc., Cl. A | 935 | 784,147 | ||||||
Blackstone, Inc. | 5,680 | 660,812 | ||||||
The Carlyle Group, Inc. | 4,015 | 189,829 | ||||||
1,634,788 | ||||||||
AUTOMOBILE MANUFACTURERS—0.2% | ||||||||
General Motors Co.* | 1,462 | 77,062 | ||||||
BIOTECHNOLOGY—2.3% | ||||||||
AbbVie, Inc. | 5,196 | 560,492 | ||||||
Amgen, Inc. | 747 | 158,850 | ||||||
Gilead Sciences, Inc. | 2,344 | 163,728 | ||||||
883,070 | ||||||||
BROADCASTING—0.2% | ||||||||
ViacomCBS, Inc., Cl. B | 1,856 | 73,331 | ||||||
BUILDING PRODUCTS—0.6% | ||||||||
Johnson Controls International PLC | 3,458 | 235,421 | ||||||
CABLE & SATELLITE—1.5% | ||||||||
Comcast Corp., Cl. A | 9,837 | 550,183 | ||||||
COMMODITY CHEMICALS—0.4% | ||||||||
Dow, Inc. | 2,306 | 132,733 | ||||||
COMMUNICATIONS EQUIPMENT—1.2% | ||||||||
Cisco Systems, Inc. | 8,587 | 467,390 | ||||||
CONSUMER ELECTRONICS—0.7% | ||||||||
Garmin Ltd. | 1,648 | 256,198 | ||||||
COPPER—0.4% | ||||||||
Southern Copper Corp. | 2,680 | 150,455 | ||||||
DATA PROCESSING & OUTSOURCED SERVICES—1.3% | ||||||||
Visa, Inc., Cl. A | 2,150 | 478,913 | ||||||
DIVERSIFIED BANKS—5.9% | ||||||||
Bank of America Corp. | 14,074 | 597,441 | ||||||
JPMorgan Chase & Co. | 9,946 | 1,628,061 | ||||||
2,225,502 | ||||||||
ELECTRIC UTILITIES—0.7% | ||||||||
NextEra Energy, Inc. | 3,539 | 277,882 | ||||||
ELECTRICAL COMPONENTS & EQUIPMENT—1.0% | ||||||||
Eaton Corp. PLC | 2,530 | 377,754 | ||||||
FINANCIAL EXCHANGES & DATA—1.1% | ||||||||
CME Group, Inc., Cl. A | 2,174 | 420,408 | ||||||
FOOD DISTRIBUTORS—0.6% | ||||||||
Sysco Corp. | 2,880 | 226,080 | ||||||
HEALTHCARE EQUIPMENT—0.9% | ||||||||
Medtronic PLC | 2,707 | 339,322 | ||||||
HEALTHCARE SERVICES—1.2% | ||||||||
CVS Health Corp. | 5,321 | 451,540 |
- 10 -
THE ALGER PORTFOLIOS | ALGER GROWTH & INCOME PORTFOLIO |
Schedule of Investments September 30, 2021 (Unaudited) (Continued)
COMMON STOCKS—94.2% (CONT.) | SHARES | VALUE | ||||||
HOME IMPROVEMENT RETAIL—2.9% | ||||||||
The Home Depot, Inc. | 3,360 | $ | 1,102,954 | |||||
HOUSEHOLD PRODUCTS—1.6% | ||||||||
The Procter & Gamble Co. | 4,312 | 602,818 | ||||||
HYPERMARKETS & SUPER CENTERS—0.8% | ||||||||
Walmart, Inc. | 2,250 | 313,605 | ||||||
INDUSTRIAL CONGLOMERATES—2.1% | ||||||||
Honeywell International, Inc. | 3,704 | 786,285 | ||||||
INDUSTRIAL GASES—1.0% | ||||||||
Air Products & Chemicals, Inc. | 1,491 | 381,860 | ||||||
INTEGRATED OIL & GAS—2.3% | ||||||||
Chevron Corp. | 4,105 | 416,452 | ||||||
Exxon Mobil Corp. | 3,683 | 216,634 | ||||||
TotalEnergies SE# | 4,994 | 239,363 | ||||||
872,449 | ||||||||
INTEGRATED TELECOMMUNICATION SERVICES—2.1% | ||||||||
AT&T, Inc. | 8,511 | 229,882 | ||||||
Verizon Communications, Inc. | 10,187 | 550,200 | ||||||
780,082 | ||||||||
INTERACTIVE MEDIA & SERVICES—10.1% | ||||||||
Alphabet, Inc., Cl. A* | 543 | 1,451,721 | ||||||
Alphabet, Inc., Cl. C* | 528 | 1,407,284 | ||||||
Facebook, Inc., Cl. A* | 2,851 | 967,601 | ||||||
3,826,606 | ||||||||
INTERNET & DIRECT MARKETING RETAIL—2.3% | ||||||||
Amazon.com, Inc.* | 269 | 883,676 | ||||||
INVESTMENT BANKING & BROKERAGE—3.1% | ||||||||
Morgan Stanley | 12,056 | 1,173,169 | ||||||
MANAGED HEALTHCARE—2.2% | ||||||||
UnitedHealth Group, Inc. | 2,089 | 816,256 | ||||||
MULTI-LINE INSURANCE—0.5% | ||||||||
The Hartford Financial Services Group, Inc. | 2,744 | 192,766 | ||||||
MULTI-UTILITIES—0.5% | ||||||||
Sempra Energy | 1,469 | 185,829 | ||||||
OIL & GAS STORAGE & TRANSPORTATION—0.4% | ||||||||
ONEOK, Inc. | 2,777 | 161,038 | ||||||
PHARMACEUTICALS—6.1% | ||||||||
AstraZeneca PLC# | 4,014 | 241,081 | ||||||
Bristol-Myers Squibb Co. | 3,469 | 205,261 | ||||||
Eli Lilly & Co. | 1,147 | 265,014 | ||||||
GlaxoSmithKline PLC# | 5,249 | 200,564 | ||||||
Johnson & Johnson | 4,120 | 665,380 | ||||||
Merck & Co., Inc. | 2,917 | 219,096 | ||||||
Novartis AG# | 2,100 | 171,738 | ||||||
Pfizer, Inc. | 7,432 | 319,650 | ||||||
2,287,784 | ||||||||
RAILROADS—0.7% | ||||||||
Union Pacific Corp. | 1,257 | 246,385 |
- 11 -
THE ALGER PORTFOLIOS | ALGER GROWTH & INCOME PORTFOLIO |
Schedule of Investments September 30, 2021 (Unaudited) (Continued)
COMMON STOCKS—94.2% (CONT.) | SHARES | VALUE | ||||||
RESTAURANTS—1.3% | ||||||||
McDonald's Corp. | 1,151 | $ | 277,517 | |||||
Starbucks Corp. | 2,025 | 223,378 | ||||||
500,895 | ||||||||
SEMICONDUCTOR EQUIPMENT—2.3% | ||||||||
KLA Corp. | 2,545 | 851,328 | ||||||
SEMICONDUCTORS—4.2% | ||||||||
Broadcom, Inc. | 1,600 | 775,888 | ||||||
QUALCOMM, Inc. | 3,978 | 513,082 | ||||||
Taiwan Semiconductor Manufacturing Co., Ltd.# | 2,795 | 312,062 | ||||||
1,601,032 | ||||||||
SOFT DRINKS—2.6% | ||||||||
PepsiCo, Inc. | 3,644 | 548,094 | ||||||
The Coca-Cola Co. | 8,238 | 432,248 | ||||||
980,342 | ||||||||
SYSTEMS SOFTWARE—9.8% | ||||||||
Microsoft Corp. | 13,119 | 3,698,509 | ||||||
TECHNOLOGY HARDWARE STORAGE & PERIPHERALS—8.1% | ||||||||
Apple, Inc. | 21,506 | 3,043,099 | ||||||
TOBACCO—1.2% | ||||||||
Altria Group, Inc. | 5,586 | 254,274 | ||||||
Philip Morris International, Inc. | 1,906 | 180,670 | ||||||
434,944 | ||||||||
TOTAL COMMON STOCKS | ||||||||
(Cost $12,879,895) | 35,565,712 | |||||||
MASTER LIMITED PARTNERSHIP—0.5% | SHARES | VALUE | ||||||
OIL & GAS STORAGE & TRANSPORTATION—0.5% | ||||||||
Cheniere Energy Partners LP | 4,620 | 187,895 | ||||||
(Cost $152,935) | 187,895 | |||||||
REAL ESTATE INVESTMENT TRUST—5.1% | SHARES | VALUE | ||||||
HEALTHCARE—0.6% | ||||||||
Welltower, Inc. | 2,809 | 231,462 | ||||||
INDUSTRIAL—0.4% | ||||||||
Americold Realty Trust | 5,226 | 151,815 | ||||||
MORTGAGE—0.7% | ||||||||
Blackstone Mortgage Trust, Inc., Cl. A | 9,107 | 276,124 | ||||||
RETAIL—0.8% | ||||||||
Simon Property Group, Inc. | 2,280 | 296,332 | ||||||
SPECIALIZED—2.6% | ||||||||
Crown Castle International Corp. | 3,024 | 524,120 | ||||||
CyrusOne, Inc. | 2,633 | 203,821 | ||||||
Lamar Advertising Co., Cl. A | 2,090 | 237,110 | ||||||
965,051 | ||||||||
TOTAL REAL ESTATE INVESTMENT TRUST | ||||||||
(Cost $1,284,736) | 1,920,784 |
- 12 -
THE ALGER PORTFOLIOS | ALGER GROWTH & INCOME PORTFOLIO |
Schedule of Investments September 30, 2021 (Unaudited) (Continued)
VALUE | ||||||||
Total Investments | ||||||||
(Cost $14,317,566) | 99.8 | % | $ | 37,674,391 | ||||
Unaffiliated Securities (Cost $14,317,566) | 37,674,391 | |||||||
Other Assets in Excess of Liabilities | 0.2 | % | 92,305 | |||||
NET ASSETS | 100.0 | % | $ | 37,766,696 |
# | American Depositary Receipts. |
* | Non-income producing security. |
See Notes to Financial Statements.
- 13 -
THE ALGER PORTFOLIOS | ALGER MID CAP GROWTH PORTFOLIO |
Schedule of Investments September 30, 2021 (Unaudited)
COMMON STOCKS—97.5% | SHARES | VALUE | ||||||
ADVERTISING—0.7% | ||||||||
Magnite, Inc.* | 52,204 | $ | 1,461,712 | |||||
AEROSPACE & DEFENSE—5.2% | ||||||||
HEICO Corp. | 37,857 | 4,992,202 | ||||||
Textron, Inc. | 10,669 | 744,803 | ||||||
TransDigm Group, Inc.* | 8,563 | 5,348,193 | ||||||
11,085,198 | ||||||||
AIR FREIGHT & LOGISTICS—0.3% | ||||||||
GXO Logistics, Inc.* | 7,182 | 563,356 | ||||||
APPAREL ACCESSORIES & LUXURY GOODS—2.5% | ||||||||
Capri Holdings Ltd.* | 19,531 | 945,496 | ||||||
Lululemon Athletica, Inc.* | 6,995 | 2,830,877 | ||||||
Moncler SpA | 25,847 | 1,576,764 | ||||||
5,353,137 | ||||||||
APPLICATION SOFTWARE—16.4% | ||||||||
ANSYS, Inc.* | 6,004 | 2,044,062 | ||||||
Avalara, Inc.* | 11,204 | 1,958,123 | ||||||
Bill.com Holdings, Inc.* | 10,508 | 2,805,111 | ||||||
Cadence Design Systems, Inc.* | 6,929 | 1,049,328 | ||||||
Coupa Software, Inc.* | 7,176 | 1,572,836 | ||||||
Datadog, Inc., Cl. A* | 16,259 | 2,298,210 | ||||||
DocuSign, Inc., Cl. A* | 10,251 | 2,638,915 | ||||||
Five9, Inc.* | 6,630 | 1,059,076 | ||||||
HubSpot, Inc.* | 4,479 | 3,028,207 | ||||||
Manhattan Associates, Inc.* | 19,638 | 3,005,203 | ||||||
Paycom Software, Inc.* | 10,403 | 5,157,287 | ||||||
PTC, Inc.* | 9,062 | 1,085,537 | ||||||
Sprout Social, Inc., Cl. A* | 34,474 | 4,204,104 | ||||||
The Trade Desk, Inc., Cl. A* | 24,795 | 1,743,088 | ||||||
Unity Software, Inc.* | 8,277 | 1,044,971 | ||||||
34,694,058 | ||||||||
AUTOMOTIVE RETAIL—1.5% | ||||||||
Advance Auto Parts, Inc. | 5,367 | 1,121,113 | ||||||
Carvana Co., Cl. A* | 3,465 | 1,044,836 | ||||||
Lithia Motors, Inc., Cl. A | 3,087 | 978,702 | ||||||
3,144,651 | ||||||||
BIOTECHNOLOGY—4.4% | ||||||||
Celldex Therapeutics, Inc.* | 23,090 | 1,246,629 | ||||||
DermTech, Inc.* | 39,477 | 1,267,606 | ||||||
Moderna, Inc.* | 2,487 | 957,147 | ||||||
Morphic Holding, Inc.* | 13,644 | 772,796 | ||||||
Natera, Inc.* | 37,195 | 4,145,011 | ||||||
Novavax, Inc.* | 4,661 | 966,272 | ||||||
9,355,461 | ||||||||
CASINOS & GAMING—2.2% | ||||||||
Evolution AB | 11,313 | 1,713,899 | ||||||
MGM Resorts International | 67,332 | 2,905,376 | ||||||
4,619,275 |
- 14 -
THE ALGER PORTFOLIOS | ALGER MID CAP GROWTH PORTFOLIO |
Schedule of Investments September 30, 2021 (Unaudited) (Continued)
COMMON STOCKS—97.5% (CONT.) | SHARES | VALUE | ||||||
CONSUMER FINANCE—4.1% | ||||||||
Upstart Holdings, Inc.* | 27,315 | $ | 8,643,559 | |||||
DATA PROCESSING & OUTSOURCED SERVICES—1.4% | ||||||||
Affirm Holdings, Inc., Cl. A* | 13,914 | 1,657,575 | ||||||
Marqeta, Inc., Cl. A* | 59,028 | 1,305,699 | ||||||
2,963,274 | ||||||||
DIVERSIFIED SUPPORT SERVICES—1.3% | ||||||||
Cintas Corp. | 2,822 | 1,074,223 | ||||||
Copart, Inc.* | 11,343 | 1,573,501 | ||||||
2,647,724 | ||||||||
ELECTRICAL COMPONENTS & EQUIPMENT—1.9% | ||||||||
AMETEK, Inc. | 16,872 | 2,092,297 | ||||||
Generac Holdings, Inc.* | 2,440 | 997,155 | ||||||
Sunrun, Inc.* | 20,327 | 894,388 | ||||||
3,983,840 | ||||||||
ELECTRONIC EQUIPMENT & INSTRUMENTS—2.0% | ||||||||
908 Devices, Inc.* | 35,691 | 1,160,671 | ||||||
Teledyne Technologies, Inc.* | 3,784 | 1,625,531 | ||||||
Trimble, Inc.* | 16,445 | 1,352,601 | ||||||
4,138,803 | ||||||||
EXCHANGE TRADED FUNDS—3.7% | ||||||||
Alger Mid Cap 40 ETF*,(b) | 341,945 | 7,739,891 | ||||||
HEALTHCARE DISTRIBUTORS—0.5% | ||||||||
McKesson Corp. | 5,592 | 1,114,933 | ||||||
HEALTHCARE EQUIPMENT—5.2% | ||||||||
CryoPort, Inc.* | 26,432 | 1,757,992 | ||||||
Dexcom, Inc.* | 4,577 | 2,502,978 | ||||||
IDEXX Laboratories, Inc.* | 1,665 | 1,035,463 | ||||||
Inmode Ltd.* | 19,288 | 3,075,472 | ||||||
Insulet Corp.* | 9,503 | 2,701,038 | ||||||
11,072,943 | ||||||||
HEALTHCARE FACILITIES—1.2% | ||||||||
The Joint Corp.* | 26,223 | 2,570,379 | ||||||
HEALTHCARE SERVICES—1.0% | ||||||||
Guardant Health, Inc.* | 17,647 | 2,206,052 | ||||||
HEALTHCARE SUPPLIES—0.8% | ||||||||
Align Technology, Inc.* | 2,547 | 1,694,850 | ||||||
HEALTHCARE TECHNOLOGY—3.2% | ||||||||
Doximity, Inc., Cl. A* | 25,304 | 2,042,033 | ||||||
Inspire Medical Systems, Inc.* | 4,902 | 1,141,577 | ||||||
Veeva Systems, Inc., Cl. A* | 12,499 | 3,601,837 | ||||||
6,785,447 | ||||||||
HOMEFURNISHING RETAIL—0.7% | ||||||||
Williams-Sonoma, Inc. | 7,794 | 1,382,110 | ||||||
HOTELS RESORTS & CRUISE LINES—0.9% | ||||||||
Expedia Group, Inc.* | 11,352 | 1,860,593 | ||||||
HUMAN RESOURCE & EMPLOYMENT SERVICES—0.8% | ||||||||
Upwork, Inc.* | 39,542 | 1,780,576 |
- 15 -
THE ALGER PORTFOLIOS | ALGER MID CAP GROWTH PORTFOLIO |
Schedule of Investments September 30, 2021 (Unaudited) (Continued)
COMMON STOCKS—97.5% (CONT.) | SHARES | VALUE | ||||||
INTERACTIVE HOME ENTERTAINMENT—0.7% | ||||||||
Take-Two Interactive Software, Inc.* | 9,811 | $ | 1,511,581 | |||||
INTERACTIVE MEDIA & SERVICES—2.9% | ||||||||
Genius Sports Ltd.* | 207,299 | 3,868,199 | ||||||
Match Group, Inc.* | 14,597 | 2,291,583 | ||||||
6,159,782 | ||||||||
INTERNET & DIRECT MARKETING RETAIL—1.3% | ||||||||
Etsy, Inc.* | 7,527 | 1,565,315 | ||||||
Global-e Online Ltd.* | 16,155 | 1,159,929 | ||||||
2,725,244 | ||||||||
INTERNET SERVICES & INFRASTRUCTURE—2.6% | ||||||||
BigCommerce Holdings, Inc.* | 18,084 | 915,774 | ||||||
MongoDB, Inc., Cl. A* | 4,180 | 1,970,912 | ||||||
Okta, Inc., Cl. A* | 10,669 | 2,532,180 | ||||||
5,418,866 | ||||||||
LIFE SCIENCES TOOLS & SERVICES—5.5% | ||||||||
10X Genomics, Inc., Cl. A* | 8,255 | 1,201,763 | ||||||
Avantor, Inc.* | 52,651 | 2,153,426 | ||||||
Bio-Techne Corp. | 8,310 | 4,026,776 | ||||||
Repligen Corp.* | 14,718 | 4,253,355 | ||||||
11,635,320 | ||||||||
METAL & GLASS CONTAINERS—0.4% | ||||||||
Ball Corp. | 10,613 | 954,852 | ||||||
MOVIES & ENTERTAINMENT—1.5% | ||||||||
Live Nation Entertainment, Inc.* | 12,590 | 1,147,327 | ||||||
Roku, Inc., Cl. A* | 6,179 | 1,936,189 | ||||||
3,083,516 | ||||||||
OIL & GAS EXPLORATION & PRODUCTION—1.2% | ||||||||
Diamondback Energy, Inc. | 25,723 | 2,435,196 | ||||||
PHARMACEUTICALS—3.2% | ||||||||
Catalent, Inc.* | 34,593 | 4,603,291 | ||||||
Green Thumb Industries, Inc.* | 78,273 | 2,138,370 | ||||||
6,741,661 | ||||||||
REGIONAL BANKS—3.3% | ||||||||
Signature Bank | 17,248 | 4,696,285 | ||||||
SVB Financial Group* | 3,643 | 2,356,584 | ||||||
7,052,869 | ||||||||
RESEARCH & CONSULTING SERVICES—0.7% | ||||||||
CoStar Group, Inc.* | 16,516 | 1,421,367 | ||||||
RESTAURANTS—3.0% | ||||||||
Chipotle Mexican Grill, Inc., Cl. A* | 1,251 | 2,273,718 | ||||||
Shake Shack, Inc., Cl. A* | 25,470 | 1,998,376 | ||||||
The Cheesecake Factory, Inc.* | 45,841 | 2,154,527 | ||||||
6,426,621 |
- 16 -
THE ALGER PORTFOLIOS | ALGER MID CAP GROWTH PORTFOLIO |
Schedule of Investments September 30, 2021 (Unaudited) (Continued)
COMMON STOCKS—97.5% (CONT.) | SHARES | VALUE | ||||||
SEMICONDUCTOR EQUIPMENT—4.4% | ||||||||
Brooks Automation, Inc. | 15,624 | $ | 1,599,117 | |||||
KLA Corp. | 5,905 | 1,975,282 | ||||||
Lam Research Corp. | 3,475 | 1,977,796 | ||||||
SolarEdge Technologies, Inc.* | 14,006 | 3,714,671 | ||||||
9,266,866 | ||||||||
SEMICONDUCTORS—0.4% | ||||||||
Universal Display Corp. | 4,691 | 801,973 | ||||||
SYSTEMS SOFTWARE—2.2% | ||||||||
Crowdstrike Holdings, Inc., Cl. A* | 14,468 | 3,555,945 | ||||||
Palo Alto Networks, Inc.* | 2,222 | 1,064,338 | ||||||
4,620,283 | ||||||||
TRUCKING—2.3% | ||||||||
Old Dominion Freight Line, Inc. | 6,195 | 1,771,646 | ||||||
Uber Technologies, Inc.* | 48,306 | 2,164,109 | ||||||
XPO Logistics, Inc.* | 11,134 | 886,044 | ||||||
4,821,799 | ||||||||
TOTAL COMMON STOCKS | ||||||||
(Cost $169,308,498) | 205,939,618 | |||||||
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 | |||||||
RIGHTS—0.2% | SHARES | VALUE | ||||||
BIOTECHNOLOGY—0.2% | ||||||||
Tolero CDR*,@,(a),(c) | 425,098 | 327,325 | ||||||
(Cost $227,341) | 327,325 | |||||||
REAL ESTATE INVESTMENT TRUST—1.3% | SHARES | VALUE | ||||||
RETAIL—0.3% | ||||||||
Simon Property Group, Inc. | 5,228 | 679,483 | ||||||
SPECIALIZED—1.0% | ||||||||
Crown Castle International Corp. | 12,171 | 2,109,478 | ||||||
TOTAL REAL ESTATE INVESTMENT TRUST | ||||||||
(Cost $2,378,125) | 2,788,961 | |||||||
SPECIAL PURPOSE VEHICLE—0.9% | SHARES | VALUE | ||||||
DATA PROCESSING & OUTSOURCED SERVICES—0.9% | ||||||||
Crosslink Ventures Capital LLC, Cl. A*,@,(a),(b) | 35 | 1,400,980 | ||||||
Crosslink Ventures Capital LLC, Cl. B*,@,(a),(b) | 13 | 548,301 | ||||||
1,949,281 | ||||||||
TOTAL SPECIAL PURPOSE VEHICLE | ||||||||
(Cost $1,200,000) | 1,949,281 | |||||||
Total Investments | ||||||||
(Cost $173,880,849) | 99.9 | % | $ | 211,030,748 | ||||
Affiliated Securities (Cost $8,926,804) | 9,714,735 | |||||||
Unaffiliated Securities (Cost $164,954,045) | 201,316,013 | |||||||
Other Assets in Excess of Liabilities | 0.1 | % | 224,884 | |||||
NET ASSETS | 100.0 | % | $ | 211,255,632 |
* | Non-income producing security. |
- 17 -
THE ALGER PORTFOLIOS | ALGER MID CAP GROWTH PORTFOLIO |
Schedule of Investments September 30, 2021 (Unaudited) (Continued)
(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 9/30/2021 | ||||||||||||
Crosslink Ventures Capital LLC, Cl. A | 10/2/20 | $ | 875,000 | 0.50 | % | $ | 1,400,980 | 0.66 | % | ||||||||
Crosslink Ventures Capital LLC, Cl. B | 12/16/20 | 325,000 | 0.18 | % | 548,301 | 0.26 | % | ||||||||||
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 | % | 327,325 | 0.16 | % | ||||||||||
Total | $ | 2,302,169 | 1.09 | % |
See Notes to Financial Statements.
- 18 -
THE ALGER PORTFOLIOS | ALGER WEATHERBIE SPECIALIZED GROWTH PORTFOLIO |
Schedule of Investments September 30, 2021 (Unaudited)
COMMON STOCKS—97.7% | SHARES | VALUE | ||||||
AEROSPACE & DEFENSE—0.4% | ||||||||
Kratos Defense & Security Solutions, Inc.* | 652 | $ | 14,546 | |||||
APPAREL ACCESSORIES & LUXURY GOODS—0.3% | ||||||||
Canada Goose Holdings, Inc.* | 290 | 10,344 | ||||||
APPAREL RETAIL—2.2% | ||||||||
MYT Netherlands Parent BV#,* | 3,264 | 87,802 | ||||||
APPLICATION SOFTWARE—17.4% | ||||||||
Altair Engineering, Inc., Cl. A* | 45 | 3,102 | ||||||
BTRS Holdings, Inc.* | 1,472 | 15,662 | ||||||
Cerence, Inc.* | 852 | 81,886 | ||||||
Ebix, Inc. | 331 | 8,914 | ||||||
Everbridge, Inc.* | 448 | 67,666 | ||||||
LivePerson, Inc.* | 573 | 33,778 | ||||||
Paylocity Holding Corp.* | 861 | 241,425 | ||||||
SEMrush Holdings, Inc., Cl. A* | 606 | 13,974 | ||||||
SPS Commerce, Inc.* | 942 | 151,954 | ||||||
Vertex, Inc., Cl. A* | 3,591 | 69,019 | ||||||
687,380 | ||||||||
ASSET MANAGEMENT & CUSTODY BANKS—5.9% | ||||||||
Hamilton Lane, Inc., Cl. A | 1,289 | 109,333 | ||||||
StepStone Group, Inc., Cl. A | 2,936 | 125,191 | ||||||
234,524 | ||||||||
BIOTECHNOLOGY—7.6% | ||||||||
ACADIA Pharmaceuticals, Inc.* | 2,021 | 33,569 | ||||||
Natera, Inc.* | 2,008 | 223,771 | ||||||
Puma Biotechnology, Inc.* | 2,296 | 16,095 | ||||||
Ultragenyx Pharmaceutical, Inc.* | 285 | 25,704 | ||||||
299,139 | ||||||||
CONSTRUCTION & ENGINEERING—0.9% | ||||||||
Ameresco, Inc., Cl. A* | 599 | 35,000 | ||||||
CONSUMER FINANCE—0.7% | ||||||||
LendingTree, Inc.* | 203 | 28,386 | ||||||
EDUCATION SERVICES—4.4% | ||||||||
Chegg, Inc.* | 2,574 | 175,083 | ||||||
ELECTRONIC EQUIPMENT & INSTRUMENTS—1.6% | ||||||||
Novanta, Inc.* | 415 | 64,118 | ||||||
ENVIRONMENTAL & FACILITIES SERVICES—9.0% | ||||||||
Casella Waste Systems, Inc., Cl. A* | 2,383 | 180,965 | ||||||
Montrose Environmental Group, Inc.* | 2,805 | 173,181 | ||||||
354,146 | ||||||||
GENERAL MERCHANDISE STORES—3.3% | ||||||||
Ollie's Bargain Outlet Holdings, Inc.* | 2,196 | 132,375 | ||||||
HEALTHCARE DISTRIBUTORS—3.0% | ||||||||
Apria, Inc.* | 2,645 | 98,262 | ||||||
PetIQ, Inc., Cl. A* | 750 | 18,727 | ||||||
116,989 |
- 19 -
THE ALGER PORTFOLIOS | ALGER WEATHERBIE SPECIALIZED GROWTH PORTFOLIO |
Schedule of Investments September 30, 2021 (Unaudited) (Continued)
COMMON STOCKS—97.7% (CONT.) | SHARES | VALUE | ||||||
HEALTHCARE EQUIPMENT—4.1% | ||||||||
Eargo, Inc.* | 984 | $ | 6,622 | |||||
Glaukos Corp.* | 600 | 28,902 | ||||||
Nevro Corp.* | 1,095 | 127,436 | ||||||
162,960 | ||||||||
HEALTHCARE TECHNOLOGY—1.7% | ||||||||
Inspire Medical Systems, Inc.* | 168 | 39,124 | ||||||
Tabula Rasa HealthCare, Inc.* | 1,121 | 29,381 | ||||||
68,505 | ||||||||
INSURANCE BROKERS—1.1% | ||||||||
Goosehead Insurance, Inc., Cl. A | 297 | 45,230 | ||||||
IT CONSULTING & OTHER SERVICES—3.4% | ||||||||
Globant SA* | 476 | 133,761 | ||||||
LEISURE FACILITIES—0.9% | ||||||||
Planet Fitness, Inc., Cl. A* | 448 | 35,190 | ||||||
LEISURE PRODUCTS—0.8% | ||||||||
Latham Group, Inc.* | 1,947 | 31,931 | ||||||
LIFE SCIENCES TOOLS & SERVICES—0.6% | ||||||||
NeoGenomics, Inc.* | 506 | 24,409 | ||||||
MANAGED HEALTHCARE—5.3% | ||||||||
Progyny, Inc.* | 3,741 | 209,496 | ||||||
OIL & GAS EQUIPMENT & SERVICES—2.8% | ||||||||
Core Laboratories NV | 3,994 | 110,834 | ||||||
PAPER PACKAGING—0.6% | ||||||||
Ranpak Holdings Corp., Cl. A* | 922 | 24,728 | ||||||
PHARMACEUTICALS—0.3% | ||||||||
Aerie Pharmaceuticals, Inc.* | 886 | 10,100 | ||||||
REAL ESTATE SERVICES—5.6% | ||||||||
FirstService Corp. | 1,236 | 223,073 | ||||||
REGIONAL BANKS—5.0% | ||||||||
Seacoast Banking Corp. of Florida | 117 | 3,956 | ||||||
Signature Bank | 717 | 195,225 | ||||||
199,181 | ||||||||
RESTAURANTS—0.7% | ||||||||
Wingstop, Inc. | 162 | 26,557 | ||||||
SEMICONDUCTORS—1.4% | ||||||||
Impinj, Inc.* | 972 | 55,530 | ||||||
SYSTEMS SOFTWARE—0.7% | ||||||||
Rapid7, Inc.* | 240 | 27,125 | ||||||
THRIFTS & MORTGAGE FINANCE—1.4% | ||||||||
Axos Financial, Inc.* | 1,079 | 55,612 | ||||||
TRADING COMPANIES & DISTRIBUTORS—4.6% | ||||||||
SiteOne Landscape Supply, Inc.* | 915 | 182,515 | ||||||
TOTAL COMMON STOCKS | ||||||||
(Cost $3,186,820) | 3,866,569 |
- 20 -
THE ALGER PORTFOLIOS | ALGER WEATHERBIE SPECIALIZED GROWTH PORTFOLIO |
Schedule of Investments September 30, 2021 (Unaudited) (Continued)
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 | |||||||
Total Investments | ||||||||
(Cost $3,234,588) | 97.7 | % | $ | 3,868,161 | ||||
Affiliated Securities (Cost $47,768) | 1,592 | |||||||
Unaffiliated Securities (Cost $3,186,820) | 3,866,569 | |||||||
Other Assets in Excess of Liabilities | 2.3 | % | 91,623 | |||||
NET ASSETS | 100.0 | % | $ | 3,959,784 |
(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 9/30/2021 | |||||||||||||
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.
- 21 -
THE ALGER PORTFOLIOS | ALGER SMALL CAP GROWTH PORTFOLIO |
Schedule of Investments September 30, 2021 (Unaudited)
COMMON STOCKS—96.2% | SHARES | VALUE | ||||||
ADVERTISING—1.7% | ||||||||
Magnite, Inc.* | 174,477 | $ | 4,885,356 | |||||
AEROSPACE & DEFENSE—1.8% | ||||||||
HEICO Corp. | 18,080 | 2,384,210 | ||||||
Hexcel Corp.* | 14,300 | 849,277 | ||||||
Mercury Systems, Inc.* | 37,963 | 1,800,205 | ||||||
5,033,692 | ||||||||
AGRICULTURAL & FARM MACHINERY—0.6% | ||||||||
Hydrofarm Holdings Group, Inc.* | 46,623 | 1,764,681 | ||||||
ALTERNATIVE CARRIERS—1.1% | ||||||||
Bandwidth, Inc., Cl. A* | 33,962 | 3,066,089 | ||||||
APPAREL ACCESSORIES & LUXURY GOODS—0.8% | ||||||||
Capri Holdings Ltd.* | 45,729 | 2,213,741 | ||||||
APPLICATION SOFTWARE—24.7% | ||||||||
ACI Worldwide, Inc.* | 73,516 | 2,259,147 | ||||||
Avalara, Inc.* | 44,647 | 7,802,956 | ||||||
Bill.com Holdings, Inc.* | 19,362 | 5,168,686 | ||||||
Blackbaud, Inc.* | 32,198 | 2,265,129 | ||||||
Blackline, Inc.* | 34,355 | 4,055,951 | ||||||
Digital Turbine, Inc.* | 24,083 | 1,655,706 | ||||||
Everbridge, Inc.* | 37,693 | 5,693,151 | ||||||
ForgeRock, Inc., Cl. A* | 13,137 | 511,423 | ||||||
Guidewire Software, Inc.* | 23,720 | 2,819,596 | ||||||
HubSpot, Inc.* | 11,341 | 7,667,537 | ||||||
Manhattan Associates, Inc.* | 30,690 | 4,696,491 | ||||||
Paycom Software, Inc.* | 13,055 | 6,472,016 | ||||||
Paycor HCM, Inc.* | 4,312 | 151,610 | ||||||
Q2 Holdings, Inc.* | 58,889 | 4,719,365 | ||||||
SEMrush Holdings, Inc., Cl. A* | 43,259 | 997,553 | ||||||
Smartsheet, Inc., Cl. A* | 34,604 | 2,381,447 | ||||||
Sprout Social, Inc., Cl. A* | 33,023 | 4,027,155 | ||||||
SPS Commerce, Inc.* | 36,387 | 5,869,587 | ||||||
Vertex, Inc., Cl. A* | 92,399 | 1,775,909 | ||||||
70,990,415 | ||||||||
ASSET MANAGEMENT & CUSTODY BANKS—1.2% | ||||||||
Affiliated Managers Group, Inc. | 23,141 | 3,496,374 | ||||||
BIOTECHNOLOGY—3.3% | ||||||||
CareDx, Inc.* | 120,440 | 7,632,283 | ||||||
Karuna Therapeutics, Inc.* | 7,074 | 865,362 | ||||||
MaxCyte, Inc.* | 21,484 | 262,320 | ||||||
Turning Point Therapeutics, Inc.* | 10,250 | 680,907 | ||||||
9,440,872 | ||||||||
CASINOS & GAMING—1.1% | ||||||||
DraftKings, Inc., Cl. A* | 65,316 | 3,145,619 | ||||||
DIVERSIFIED SUPPORT SERVICES—0.4% | ||||||||
IAA, Inc.* | 23,075 | 1,259,203 | ||||||
ELECTRICAL COMPONENTS & EQUIPMENT—0.8% | ||||||||
Sunrun, Inc.* | 52,289 | 2,300,716 |
- 22 -
THE ALGER PORTFOLIOS | ALGER SMALL CAP GROWTH PORTFOLIO |
Schedule of Investments September 30, 2021 (Unaudited) (Continued)
COMMON STOCKS—96.2% (CONT.) | SHARES | VALUE | ||||||
ELECTRONIC EQUIPMENT & INSTRUMENTS—1.6% | ||||||||
Cognex Corp. | 56,448 | $ | 4,528,259 | |||||
FOOD DISTRIBUTORS—1.5% | ||||||||
The Chefs' Warehouse, Inc.* | 43,295 | 1,410,118 | ||||||
US Foods Holding Corp.* | 87,760 | 3,041,762 | ||||||
4,451,880 | ||||||||
HEALTHCARE DISTRIBUTORS—0.2% | ||||||||
PetIQ, Inc., Cl. A* | 28,072 | 700,958 | ||||||
HEALTHCARE EQUIPMENT—8.3% | ||||||||
CryoPort, Inc.* | 66,535 | 4,425,243 | ||||||
Inmode Ltd.* | 34,202 | 5,453,509 | ||||||
Inogen, Inc.* | 51,275 | 2,209,440 | ||||||
Insulet Corp.* | 15,603 | 4,434,840 | ||||||
Mesa Laboratories, Inc. | 10,970 | 3,316,889 | ||||||
Tandem Diabetes Care, Inc.* | 32,308 | 3,856,929 | ||||||
23,696,850 | ||||||||
HEALTHCARE FACILITIES—2.1% | ||||||||
The Joint Corp.* | 60,426 | 5,922,956 | ||||||
HEALTHCARE SERVICES—1.7% | ||||||||
1Life Healthcare, Inc.* | 10,985 | 222,446 | ||||||
Biodesix, Inc.* | 35,760 | 293,947 | ||||||
Guardant Health, Inc.* | 31,542 | 3,943,066 | ||||||
Privia Health Group, Inc.* | 21,603 | 508,967 | ||||||
4,968,426 | ||||||||
HEALTHCARE SUPPLIES—4.1% | ||||||||
Neogen Corp.* | 202,279 | 8,784,977 | ||||||
Quidel Corp.* | 21,577 | 3,045,594 | ||||||
11,830,571 | ||||||||
HEALTHCARE TECHNOLOGY—5.5% | ||||||||
Convey Holding Parent, Inc.* | 62,048 | 521,203 | ||||||
Definitive Healthcare Corp., Cl. A* | 14,666 | 628,145 | ||||||
Doximity, Inc., Cl. A* | 8,354 | 674,168 | ||||||
Sophia Genetics SA* | 35,639 | 624,752 | ||||||
Veeva Systems, Inc., Cl. A* | 22,321 | 6,432,242 | ||||||
Vocera Communications, Inc.* | 148,057 | 6,775,088 | ||||||
15,655,598 | ||||||||
HOMEFURNISHING RETAIL—0.5% | ||||||||
Bed Bath & Beyond, Inc.* | 79,790 | 1,378,372 | ||||||
HUMAN RESOURCE & EMPLOYMENT SERVICES—1.5% | ||||||||
Legalzoom.com, Inc.* | 65,630 | 1,732,632 | ||||||
Upwork, Inc.* | 59,199 | 2,665,731 | ||||||
4,398,363 | ||||||||
HYPERMARKETS & SUPER CENTERS—1.1% | ||||||||
BJ's Wholesale Club Holdings, Inc.* | 56,895 | 3,124,673 | ||||||
INDUSTRIAL MACHINERY—0.4% | ||||||||
Gates Industrial Corp. PLC* | 70,927 | 1,153,982 | ||||||
INTERACTIVE HOME ENTERTAINMENT—0.6% | ||||||||
Take-Two Interactive Software, Inc.* | 11,460 | 1,765,642 |
- 23 -
THE ALGER PORTFOLIOS | ALGER SMALL CAP GROWTH PORTFOLIO |
Schedule of Investments September 30, 2021 (Unaudited) (Continued)
COMMON STOCKS—96.2% (CONT.) | SHARES | VALUE | ||||||
INTERACTIVE MEDIA & SERVICES—2.9% | ||||||||
Bumble, Inc., Cl. A* | 9,914 | $ | 495,502 | |||||
Eventbrite, Inc., Cl. A* | 75,680 | 1,431,109 | ||||||
Genius Sports Ltd.* | 232,565 | 4,339,663 | ||||||
TripAdvisor, Inc.* | 57,136 | 1,934,054 | ||||||
VTEX, Cl. A* | 2,515 | 51,733 | ||||||
8,252,061 | ||||||||
INTERNET & DIRECT MARKETING RETAIL—1.3% | ||||||||
Farfetch Ltd., Cl. A* | 61,236 | 2,295,125 | ||||||
The RealReal, Inc.* | 110,912 | 1,461,820 | ||||||
3,756,945 | ||||||||
INTERNET SERVICES & INFRASTRUCTURE—1.1% | ||||||||
BigCommerce Holdings, Inc.* | 63,855 | 3,233,617 | ||||||
LEISURE FACILITIES—0.6% | ||||||||
Planet Fitness, Inc., Cl. A* | 22,820 | 1,792,511 | ||||||
LIFE SCIENCES TOOLS & SERVICES—10.9% | ||||||||
10X Genomics, Inc., Cl. A* | 12,272 | 1,786,558 | ||||||
Akoya Biosciences, Inc.* | 63,075 | 880,527 | ||||||
Alpha Teknova, Inc.* | 14,567 | 362,573 | ||||||
Bio-Techne Corp. | 16,703 | 8,093,773 | ||||||
Codex DNA, Inc.* | 36,465 | 405,855 | ||||||
Cytek Biosciences, Inc.* | 24,960 | 534,394 | ||||||
ICON PLC* | 8,945 | 2,343,769 | ||||||
Maravai LifeSciences Holdings, Inc., Cl. A* | 21,311 | 1,045,944 | ||||||
NanoString Technologies, Inc.* | 101,823 | 4,888,522 | ||||||
NeoGenomics, Inc.* | 78,057 | 3,765,470 | ||||||
Personalis, Inc.* | 33,842 | 651,120 | ||||||
Rapid Micro Biosystems, Inc., Cl. A* | 29,065 | 536,830 | ||||||
Repligen Corp.* | 20,243 | 5,850,024 | ||||||
31,145,359 | ||||||||
MANAGED HEALTHCARE—1.1% | ||||||||
HealthEquity, Inc.* | 50,743 | 3,286,117 | ||||||
MOVIES & ENTERTAINMENT—0.9% | ||||||||
Live Nation Entertainment, Inc.* | 27,869 | 2,539,702 | ||||||
OIL & GAS EXPLORATION & PRODUCTION—1.8% | ||||||||
Magnolia Oil & Gas Corp., Cl. A | 298,716 | 5,314,158 | ||||||
PHARMACEUTICALS—0.2% | ||||||||
Aerie Pharmaceuticals, Inc.* | 39,613 | 451,588 | ||||||
PRECIOUS METALS & MINERALS—0.0% | ||||||||
Xometry, Inc., Cl. A* | 1,457 | 84,025 | ||||||
REGIONAL BANKS—0.4% | ||||||||
Webster Financial Corp. | 20,010 | 1,089,745 | ||||||
RESTAURANTS—3.9% | ||||||||
Shake Shack, Inc., Cl. A* | 49,606 | 3,892,087 | ||||||
The Cheesecake Factory, Inc.* | 61,688 | 2,899,336 | ||||||
Wingstop, Inc. | 26,463 | 4,338,079 | ||||||
11,129,502 | ||||||||
SEMICONDUCTOR EQUIPMENT—0.7% | ||||||||
SolarEdge Technologies, Inc.* | 7,328 | 1,943,532 |
- 24 -
THE ALGER PORTFOLIOS | ALGER SMALL CAP GROWTH PORTFOLIO |
Schedule of Investments September 30, 2021 (Unaudited) (Continued)
COMMON STOCKS—96.2% (CONT.) | SHARES | VALUE | ||||||
SEMICONDUCTORS—0.8% Universal Display Corp. | 12,653 | $ | 2,163,157 | |||||
SPECIALTY CHEMICALS—2.4% Balchem Corp. | 47,904 | 6,949,433 | ||||||
SPECIALTY STORES—0.6% Brilliant Earth Group, Inc., Cl. A* | 10,243 | 137,256 | ||||||
Five Below, Inc.* | 9,426 | 1,666,611 | ||||||
1,803,867 | ||||||||
TOTAL COMMON STOCKS (Cost $152,208,796) | 276,108,607 | |||||||
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—0.1% | SHARES | VALUE | ||||||
BIOTECHNOLOGY—0.1% Tolero CDR*,@,(b),(c) | 287,830 | 221,629 | ||||||
(Cost $155,594) | 221,629 | |||||||
REAL ESTATE INVESTMENT TRUST—0.6% | SHARES | VALUE | ||||||
RETAIL—0.6% Tanger Factory Outlet Centers, Inc. | 114,808 | 1,871,371 | ||||||
(Cost $1,890,281) | 1,871,371 | |||||||
SPECIAL PURPOSE VEHICLE—1.0% | SHARES | VALUE | ||||||
DATA PROCESSING & OUTSOURCED SERVICES—1.0% Crosslink Ventures Capital LLC, Cl. A*,@,(a),(b) | 56 | 2,241,568 | ||||||
Crosslink Ventures Capital LLC, Cl. B*,@,(a),(b) | 12 | 506,124 | ||||||
2,747,692 | ||||||||
TOTAL SPECIAL PURPOSE VEHICLE (Cost $1,700,000) | 2,747,692 | |||||||
Total Investments (Cost $156,293,895) | 97.9 | % | $ | 280,960,606 | ||||
Affiliated Securities (Cost $2,039,224) | 2,758,999 | |||||||
Unaffiliated Securities (Cost $154,254,671) | 278,201,607 | |||||||
Other Assets in Excess of Liabilities | 2.1 | % | 5,915,525 | |||||
NET ASSETS | 100.0 | % | $ | 286,876,131 |
(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. |
- 25 -
THE ALGER PORTFOLIOS | ALGER SMALL CAP GROWTH PORTFOLIO |
Schedule of Investments September 30, 2021 (Unaudited) (Continued)
Security | Acquisition Date(s) | Acquisition Cost | % of net assets (Acquisition Date) | Market Value | % of net assets as of 9/30/2021 | |||||||||||||
Crosslink Ventures Capital LLC, Cl. A | 10/2/20 | $ | 1,400,000 | 0.49 | % | $ | 2,241,568 | 0.78 | % | |||||||||
Crosslink Ventures Capital LLC, Cl. B | 12/16/20 | 300,000 | 0.10 | % | 506,124 | 0.18 | % | |||||||||||
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 | % | 221,629 | | 0.08 | % | ||||||||||
Total | $ | 2,980,628 | 1.04 | % |
See Notes to Financial Statements.
- 26 -
THE ALGER PORTFOLIOS | ALGER BALANCED PORTFOLIO |
Schedule of Investments September 30, 2021 (Unaudited)
COMMON STOCKS—61.7% | SHARES | VALUE | ||||||
AEROSPACE & DEFENSE—1.0% | ||||||||
General Dynamics Corp. | 1,033 | $ | 202,499 | |||||
Raytheon Technologies Corp. | 2,371 | 203,811 | ||||||
TransDigm Group, Inc.* | 290 | 181,125 | ||||||
587,435 | ||||||||
ASSET MANAGEMENT & CUSTODY BANKS—2.9% | ||||||||
BlackRock, Inc., Cl. A | 952 | 798,404 | ||||||
Blackstone, Inc. | 5,665 | 659,066 | ||||||
The Carlyle Group, Inc. | 4,130 | 195,267 | ||||||
1,652,737 | ||||||||
AUTOMOBILE MANUFACTURERS—0.1% | ||||||||
General Motors Co.* | 1,472 | 77,589 | ||||||
BIOTECHNOLOGY—1.6% | ||||||||
AbbVie, Inc. | 5,217 | 562,758 | ||||||
Amgen, Inc. | 749 | 159,275 | ||||||
Gilead Sciences, Inc. | 2,516 | 175,742 | ||||||
897,775 | ||||||||
BROADCASTING—0.1% | ||||||||
ViacomCBS, Inc., Cl. B | 1,851 | 73,133 | ||||||
BUILDING PRODUCTS—0.4% | ||||||||
Johnson Controls International PLC | 3,449 | 234,808 | ||||||
CABLE & SATELLITE—1.0% | ||||||||
Comcast Corp., Cl. A | 9,967 | 557,454 | ||||||
COMMODITY CHEMICALS—0.2% | ||||||||
Dow, Inc. | 2,258 | 129,970 | ||||||
COMMUNICATIONS EQUIPMENT—0.8% | ||||||||
Cisco Systems, Inc. | 8,567 | 466,302 | ||||||
CONSUMER ELECTRONICS—0.4% | ||||||||
Garmin Ltd. | 1,641 | 255,110 | ||||||
COPPER—0.3% | ||||||||
Southern Copper Corp. | 2,690 | 151,017 | ||||||
DATA PROCESSING & OUTSOURCED SERVICES—0.8% | ||||||||
Visa, Inc., Cl. A | 2,140 | 476,685 | ||||||
DIVERSIFIED BANKS—3.8% | ||||||||
Bank of America Corp. | 13,900 | 590,055 | ||||||
JPMorgan Chase & Co. | 9,902 | 1,620,858 | ||||||
2,210,913 | ||||||||
ELECTRIC UTILITIES—0.5% | ||||||||
NextEra Energy, Inc. | 3,500 | 274,820 | ||||||
ELECTRICAL COMPONENTS & EQUIPMENT—0.7% | ||||||||
Eaton Corp. PLC | 2,579 | 385,070 | ||||||
FINANCIAL EXCHANGES & DATA—0.7% | ||||||||
CME Group, Inc., Cl. A | 2,211 | 427,563 | ||||||
FOOD DISTRIBUTORS—0.4% | ||||||||
Sysco Corp. | 2,924 | 229,534 | ||||||
HEALTHCARE EQUIPMENT—0.6% | ||||||||
Medtronic PLC | 2,696 | 337,944 | ||||||
HEALTHCARE SERVICES—0.8% | ||||||||
CVS Health Corp. | 5,182 | 439,745 |
- 27 -
THE ALGER PORTFOLIOS | ALGER BALANCED PORTFOLIO |
Schedule of Investments September 30, 2021 (Unaudited) (Continued)
COMMON STOCKS—61.7% (CONT.) | SHARES | VALUE | ||||||
HOME IMPROVEMENT RETAIL—1.9% | ||||||||
The Home Depot, Inc. | 3,346 | $ | 1,098,358 | |||||
HOUSEHOLD PRODUCTS—1.1% | ||||||||
The Procter & Gamble Co. | 4,400 | 615,120 | ||||||
HYPERMARKETS & SUPER CENTERS—0.6% | ||||||||
Walmart, Inc. | 2,320 | 323,362 | ||||||
INDUSTRIAL CONGLOMERATES—1.4% | ||||||||
Honeywell International, Inc. | 3,688 | 782,889 | ||||||
INDUSTRIAL GASES—0.7% | ||||||||
Air Products & Chemicals, Inc. | 1,487 | 380,836 | ||||||
INTEGRATED OIL & GAS—1.5% | ||||||||
Chevron Corp. | 4,047 | 410,568 | ||||||
Exxon Mobil Corp. | 3,667 | 215,693 | ||||||
TotalEnergies SE# | 5,051 | 242,095 | ||||||
868,356 | ||||||||
INTEGRATED TELECOMMUNICATION SERVICES—1.3% | ||||||||
AT&T, Inc. | 8,245 | 222,698 | ||||||
Verizon Communications, Inc. | 10,027 | 541,558 | ||||||
764,256 | ||||||||
INTERACTIVE MEDIA & SERVICES—6.5% | ||||||||
Alphabet, Inc., Cl. A* | 536 | 1,433,007 | ||||||
Alphabet, Inc., Cl. C* | 508 | 1,353,977 | ||||||
Facebook, Inc., Cl. A* | 2,818 | 956,401 | ||||||
3,743,385 | ||||||||
INTERNET & DIRECT MARKETING RETAIL—1.5% | ||||||||
Amazon.com, Inc.* | 269 | 883,676 | ||||||
INVESTMENT BANKING & BROKERAGE—2.1% | ||||||||
Morgan Stanley | 12,115 | 1,178,911 | ||||||
MANAGED HEALTHCARE—1.5% | ||||||||
UnitedHealth Group, Inc. | 2,138 | 835,402 | ||||||
MULTI-LINE INSURANCE—0.3% | ||||||||
The Hartford Financial Services Group, Inc. | 2,647 | 185,952 | ||||||
MULTI-UTILITIES—0.3% | ||||||||
Sempra Energy | 1,472 | 186,208 | ||||||
OIL & GAS STORAGE & TRANSPORTATION—0.3% | ||||||||
ONEOK, Inc. | 2,694 | 156,225 | ||||||
PHARMACEUTICALS—4.0% | ||||||||
AstraZeneca PLC# | 3,998 | 240,120 | ||||||
Bristol-Myers Squibb Co. | 3,563 | 210,823 | ||||||
Eli Lilly & Co. | 1,147 | 265,014 | ||||||
GlaxoSmithKline PLC# | 5,029 | 192,158 | ||||||
Johnson & Johnson | 4,102 | 662,473 | ||||||
Merck & Co., Inc. | 2,793 | 209,782 | ||||||
Novartis AG# | 2,161 | 176,727 | ||||||
Pfizer, Inc. | 7,384 | 317,586 | ||||||
2,274,683 | ||||||||
RAILROADS—0.4% | ||||||||
Union Pacific Corp. | 1,240 | 243,052 |
- 28 -
THE ALGER PORTFOLIOS | ALGER BALANCED PORTFOLIO |
Schedule of Investments September 30, 2021 (Unaudited) (Continued)
COMMON STOCKS—61.7% (CONT.) | SHARES | VALUE | ||||||
RESTAURANTS—0.9% McDonald's Corp. | 1,178 | $ | 284,027 | |||||
Starbucks Corp. | 2,012 | 221,944 | ||||||
505,971 | ||||||||
SEMICONDUCTOR EQUIPMENT—1.4% KLA Corp. | 2,479 | 829,250 | ||||||
SEMICONDUCTORS—2.8% Broadcom, Inc. | 1,559 | 756,006 | ||||||
QUALCOMM, Inc. | 4,084 | 526,754 | ||||||
Taiwan Semiconductor Manufacturing Co., Ltd.# | 2,724 | 304,135 | ||||||
1,586,895 | ||||||||
SOFT DRINKS—1.7% PepsiCo, Inc. | 3,674 | 552,606 | ||||||
The Coca-Cola Co. | 8,431 | 442,375 | ||||||
994,981 | ||||||||
SYSTEMS SOFTWARE—6.4% Microsoft Corp. | 13,061 | 3,682,157 | ||||||
TECHNOLOGY HARDWARE STORAGE & PERIPHERALS—5.3% Apple, Inc. | 21,485 | 3,040,127 | ||||||
TOBACCO—0.7% Altria Group, Inc. | 5,677 | 258,417 | ||||||
Philip Morris International, Inc. | 1,822 | 172,707 | ||||||
431,124 | ||||||||
TOTAL COMMON STOCKS (Cost $14,580,516) | 35,456,780 | |||||||
MASTER LIMITED PARTNERSHIP—0.3% | SHARES | VALUE | ||||||
OIL & GAS STORAGE & TRANSPORTATION—0.3% Cheniere Energy Partners LP | 4,546 | 184,886 | ||||||
(Cost $150,738) | 184,886 | |||||||
REAL ESTATE INVESTMENT TRUST—3.3% | SHARES | VALUE | ||||||
HEALTHCARE—0.4% Welltower, Inc. | 2,793 | 230,143 | ||||||
INDUSTRIAL—0.2% Americold Realty Trust | 4,853 | 140,980 | ||||||
MORTGAGE—0.5% Blackstone Mortgage Trust, Inc., Cl. A | 8,665 | 262,723 | ||||||
RETAIL—0.5% Simon Property Group, Inc. | 2,271 | 295,162 | ||||||
SPECIALIZED—1.7% Crown Castle International Corp. | 3,096 | 536,599 | ||||||
CyrusOne, Inc. | 2,548 | 197,240 | ||||||
Lamar Advertising Co., Cl. A | 2,104 | 238,699 | ||||||
972,538 | ||||||||
TOTAL REAL ESTATE INVESTMENT TRUST (Cost $1,296,392) | 1,901,546 |
CORPORATE BONDS—28.1% | PRINCIPAL AMOUNT | VALUE | ||||||
AGRICULTURAL & FARM MACHINERY—3.1% | ||||||||
John Deere Capital Corp., 2.75%, 3/15/22 | 1,750,000 | 1,769,396 |
- 29 -
THE ALGER PORTFOLIOS | ALGER BALANCED PORTFOLIO |
Schedule of Investments September 30, 2021 (Unaudited) (Continued)
CORPORATE BONDS—28.1% (CONT.) | PRINCIPAL AMOUNT | VALUE | ||||||
APPLICATION SOFTWARE—1.7% | ||||||||
salesforce.com, Inc., 0.63%, 7/15/24 | 1,000,000 | $ | 1,001,987 | |||||
AUTOMOBILE MANUFACTURERS—1.7% | ||||||||
General Motors Financial Co., Inc., 1.5%, 6/10/26 | 500,000 | 497,142 | ||||||
Toyota Motor Credit Corp., 0.45%, 7/22/22 | 500,000 | 501,058 | ||||||
998,200 | ||||||||
BIOTECHNOLOGY—0.9% | ||||||||
AbbVie, Inc., 3.6%, 5/14/25 | 500,000 | 540,986 | ||||||
DATA PROCESSING & OUTSOURCED SERVICES—0.9% | ||||||||
PayPal Holdings, Inc., 1.35%, 6/1/23 | 500,000 | 508,424 | ||||||
DIVERSIFIED BANKS—2.7% | ||||||||
Bank of America Corp., variable, 5/28/24 | 500,000 | 501,646 | ||||||
Wells Fargo & Co., 3.3%, 9/9/24 | 1,000,000 | 1,076,475 | ||||||
1,578,121 | ||||||||
ELECTRIC UTILITIES—0.9% | ||||||||
NextEra Energy Capital Holdings, Inc., variable, 2/22/23 | 500,000 | 500,039 | ||||||
ELECTRICAL COMPONENTS & EQUIPMENT—0.9% | ||||||||
Rockwell Automation, Inc., 0.35%, 8/15/23 | 500,000 | 500,355 | ||||||
INVESTMENT BANKING & BROKERAGE—0.9% | ||||||||
The Goldman Sachs Group, Inc., 0.48%, 1/27/23 | 500,000 | 500,100 | ||||||
PACKAGED FOODS & MEATS—4.5% | ||||||||
Campbell Soup Co., 2.5%, 8/2/22 | 2,000,000 | 2,035,668 | ||||||
Nestle Holdings, Inc., 0.61%, 9/14/24 | 550,000 | 550,200 | ||||||
2,585,868 | ||||||||
SEMICONDUCTOR EQUIPMENT—1.0% | ||||||||
KLA Corp., 4.65%, 11/1/24 | 500,000 | 551,630 | ||||||
SEMICONDUCTORS—3.7% | ||||||||
Altera Corp., 4.1%, 11/15/23 | 1,500,000 | 1,610,644 | ||||||
NVIDIA Corp., 0.31%, 6/15/23 | 500,000 | 500,109 | ||||||
2,110,753 | ||||||||
SPECIALIZED—2.2% | ||||||||
Crown Castle International Corp., 3.2%, 9/1/24 | 1,200,000 | 1,276,010 | ||||||
SYSTEMS SOFTWARE—0.9% | ||||||||
VMware, Inc., 0.6%, 8/15/23 | 500,000 | 500,746 | ||||||
TECHNOLOGY HARDWARE STORAGE & PERIPHERALS—2.1% | ||||||||
Apple, Inc., 1.13%, 5/11/25 | 1,200,000 | 1,208,712 | ||||||
TOTAL CORPORATE BONDS | ||||||||
(Cost $15,864,558) | 16,131,327 | |||||||
Total Investments | ||||||||
(Cost $31,892,204) | 93.4 | % | $ | 53,674,539 | ||||
Unaffiliated Securities (Cost $31,892,204) | 53,674,539 | |||||||
Other Assets in Excess of Liabilities | 6.6 | % | 3,802,462 | |||||
NET ASSETS | 100.0 | % | $ | 57,477,001 |
# | American Depositary Receipts. |
* | Non-income producing security. |
See Notes to Financial Statements.
- 30 -
THE ALGER PORTFOLIOS
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 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.
- 31 -
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) |
- 32 -
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’ Schedules of Investments. Based upon the nature, characteristics, and risks associated with their investments as of September 30, 2021, the Portfolios have determined that presenting them by security type and sector is appropriate.
- 33 -
THE ALGER PORTFOLIOS
NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)
Alger Capital Appreciation Portfolio | TOTAL | LEVEL 1 | LEVEL 2 | LEVEL 3 | ||||||||||||
COMMON STOCKS | ||||||||||||||||
Communication Services | $ | 86,803,241 | $ | 86,803,241 | $ | — | $ | — | ||||||||
Consumer Discretionary | 139,546,099 | 132,144,938 | 7,401,161 | — | ||||||||||||
Consumer Staples | 2,405,139 | 2,405,139 | — | — | ||||||||||||
Financials | 27,411,606 | 27,411,606 | — | — | ||||||||||||
Healthcare | 55,601,908 | 55,601,908 | — | — | ||||||||||||
Industrials | 36,686,668 | 36,686,668 | — | — | ||||||||||||
Information Technology | 291,873,416 | 291,873,416 | — | — | ||||||||||||
TOTAL COMMON STOCKS | $ | 640,328,077 | $ | 632,926,916 | $ | 7,401,161 | $ | — | ||||||||
REAL ESTATE INVESTMENT TRUST | ||||||||||||||||
Real Estate | 2,964,226 | 2,964,226 | — | — | ||||||||||||
SPECIAL PURPOSE VEHICLE | ||||||||||||||||
Information Technology | 1,222,540 | — | — | 1,222,540 | ||||||||||||
TOTAL INVESTMENTS IN SECURITIES | $ | 644,514,843 | $ | 635,891,142 | $ | 7,401,161 | $ | 1,222,540 |
Alger Large Cap Growth Portfolio | TOTAL | LEVEL 1 | LEVEL 2 | LEVEL 3 | ||||||||||||
COMMON STOCKS | ||||||||||||||||
Communication Services | $ | 41,961,921 | $ | 41,961,921 | $ | — | $ | — | ||||||||
Consumer Discretionary | 65,810,851 | 65,810,851 | — | — | ||||||||||||
Financials | 8,010,931 | 8,010,931 | — | — | ||||||||||||
Healthcare | 64,842,705 | 64,842,705 | — | — | ||||||||||||
Industrials | 20,196,947 | 20,196,947 | — | — | ||||||||||||
Information Technology | 198,900,762 | 198,900,762 | — | — | ||||||||||||
Mutual Funds | 15,796,556 | 15,796,556 | — | — | ||||||||||||
TOTAL COMMON STOCKS | $ | 415,520,673 | $ | 415,520,673 | $ | — | $ | — | ||||||||
REAL ESTATE INVESTMENT TRUST | ||||||||||||||||
Real Estate | 8,521,451 | 8,521,451 | — | — | ||||||||||||
SPECIAL PURPOSE VEHICLE | ||||||||||||||||
Information Technology | 3,042,128 | — | — | 3,042,128 | ||||||||||||
TOTAL INVESTMENTS IN SECURITIES | $ | 427,084,252 | $ | 424,042,124 | $ | — | $ | 3,042,128 |
Alger Growth & Income Portfolio | TOTAL | LEVEL 1 | LEVEL 2 | LEVEL 3 | ||||||||||||
COMMON STOCKS | ||||||||||||||||
Communication Services | $ | 5,230,202 | $ | 5,230,202 | $ | — | $ | — | ||||||||
Consumer Discretionary | 2,820,785 | 2,820,785 | — | — | ||||||||||||
Consumer Staples | 2,557,789 | 2,557,789 | — | — | ||||||||||||
Energy | 1,033,487 | 1,033,487 | — | — | ||||||||||||
Financials | 5,646,633 | 5,646,633 | — | — | ||||||||||||
Healthcare | 4,777,972 | 4,777,972 | — | — | ||||||||||||
Industrials | 2,229,814 | 2,229,814 | — | — | ||||||||||||
Information Technology | 10,140,271 | 10,140,271 | — | — | ||||||||||||
Materials | 665,048 | 665,048 | — | — | ||||||||||||
Utilities | 463,711 | 463,711 | — | — | ||||||||||||
TOTAL COMMON STOCKS | $ | 35,565,712 | $ | 35,565,712 | $ | — | $ | — |
- 34 -
THE ALGER PORTFOLIOS
NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)
Alger Growth & Income Portfolio | TOTAL | LEVEL 1 | LEVEL 2 | LEVEL 3 | ||||||||||||
MASTER LIMITED PARTNERSHIP Energy | $ | 187,895 | $ | 187,895 | $ | — | $ | — | ||||||||
REAL ESTATE INVESTMENT TRUST | ||||||||||||||||
Financials | 276,124 | 276,124 | — | — | ||||||||||||
Real Estate | 1,644,660 | 1,644,660 | — | — | ||||||||||||
TOTAL REAL ESTATE INVESTMENT TRUST | $ | 1,920,784 | $ | 1,920,784 | $ | — | $ | — | ||||||||
TOTAL INVESTMENTS IN SECURITIES | $ | 37,674,391 | $ | 37,674,391 | $ | — | $ | — |
Alger Mid Cap Growth Portfolio | TOTAL | LEVEL 1 | LEVEL 2 | LEVEL 3 | ||||||||||||
COMMON STOCKS | ||||||||||||||||
Communication Services | $ | 12,216,591 | $ | 12,216,591 | $ | — | $ | — | ||||||||
Consumer Discretionary | 25,511,631 | 22,220,968 | 3,290,663 | — | ||||||||||||
Energy | 2,435,196 | 2,435,196 | — | — | ||||||||||||
Exchange Traded Funds | 7,739,891 | 7,739,891 | — | — | ||||||||||||
Financials | 15,696,428 | 15,696,428 | — | — | ||||||||||||
Healthcare | 53,177,046 | 53,177,046 | — | — | ||||||||||||
Industrials | 26,303,860 | 26,303,860 | — | — | ||||||||||||
Information Technology | 61,904,123 | 61,904,123 | — | — | ||||||||||||
Materials | 954,852 | 954,852 | — | — | ||||||||||||
TOTAL COMMON STOCKS | $ | 205,939,618 | $ | 202,648,955 | $ | 3,290,663 | $ | — | ||||||||
PREFERRED STOCKS | ||||||||||||||||
Healthcare | 25,563 | — | — | 25,563 | ||||||||||||
RIGHTS | ||||||||||||||||
Healthcare | 327,325 | — | — | 327,325 | ||||||||||||
REAL ESTATE INVESTMENT TRUST | ||||||||||||||||
Real Estate | 2,788,961 | 2,788,961 | — | — | ||||||||||||
SPECIAL PURPOSE VEHICLE | ||||||||||||||||
Information Technology | 1,949,281 | — | — | 1,949,281 | ||||||||||||
TOTAL INVESTMENTS IN SECURITIES | $ | 211,030,748 | $ | 205,437,916 | $ | 3,290,663 | $ | 2,302,169 |
Alger Weatherbie Specialized Growth Portfolio | TOTAL | LEVEL 1 | LEVEL 2 | LEVEL 3 | ||||||||||||
COMMON STOCKS | ||||||||||||||||
Consumer Discretionary | $ | 499,282 | $ | 499,282 | $ | — | $ | — | ||||||||
Energy | 110,834 | 110,834 | — | — | ||||||||||||
Financials | 562,933 | 562,933 | — | — | ||||||||||||
Healthcare | 891,598 | 891,598 | — | — | ||||||||||||
Industrials | 586,207 | 586,207 | — | — | ||||||||||||
Information Technology | 967,914 | 967,914 | — | — | ||||||||||||
Materials | 24,728 | 24,728 | — | — | ||||||||||||
Real Estate | 223,073 | 223,073 | — | — | ||||||||||||
TOTAL COMMON STOCKS | $ | 3,866,569 | $ | 3,866,569 | $ | — | $ | — | ||||||||
PREFERRED STOCKS | ||||||||||||||||
Healthcare | 1,592 | — | — | 1,592 | ||||||||||||
TOTAL INVESTMENTS IN SECURITIES | $ | 3,868,161 | $ | 3,866,569 | $ | 1,592 | $ | — |
- 35 -
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 | $ | 20,508,850 | $ | 20,508,850 | $ | — | $ | — | ||||||||
Consumer Discretionary | 25,220,557 | 25,220,557 | — | — | ||||||||||||
Consumer Staples | 7,576,553 | 7,576,553 | — | — | ||||||||||||
Energy | 5,314,158 | 5,314,158 | — | — | ||||||||||||
Financials | 4,586,119 | 4,586,119 | — | — | ||||||||||||
Healthcare | 107,099,295 | 107,099,295 | — | — | ||||||||||||
Industrials | 15,910,637 | 15,910,637 | — | — | ||||||||||||
Information Technology | 82,858,980 | 82,858,980 | — | — | ||||||||||||
Materials | 7,033,458 | 7,033,458 | — | — | ||||||||||||
TOTAL COMMON STOCKS | $ | 276,108,607 | $ | 276,108,607 | $ | — | $ | — | ||||||||
PREFERRED STOCKS | ||||||||||||||||
Healthcare | 11,307 | — | — | 11,307 | ||||||||||||
RIGHTS | ||||||||||||||||
Healthcare | 221,629 | — | — | 221,629 | ||||||||||||
REAL ESTATE INVESTMENT TRUST | ||||||||||||||||
Real Estate | 1,871,371 | 1,871,371 | — | — | ||||||||||||
SPECIAL PURPOSE VEHICLE | ||||||||||||||||
Information Technology | 2,747,692 | — | — | 2,747,692 | ||||||||||||
TOTAL INVESTMENTS IN SECURITIES | $ | 280,960,606 | $ | 277,979,978 | $ | — | $ | 2,980,628 |
Alger Balanced Portfolio | TOTAL | LEVEL 1 | LEVEL 2 | LEVEL 3 | ||||||||||||
COMMON STOCKS | ||||||||||||||||
Communication Services | $ | 5,138,228 | $ | 5,138,228 | $ | — | $ | — | ||||||||
Consumer Discretionary | 2,820,704 | 2,820,704 | — | — | ||||||||||||
Consumer Staples | 2,594,121 | 2,594,121 | — | — | ||||||||||||
Energy | 1,024,581 | 1,024,581 | — | — | ||||||||||||
Financials | 5,656,076 | 5,656,076 | — | — | ||||||||||||
Healthcare | 4,785,549 | 4,785,549 | — | — | ||||||||||||
Industrials | 2,233,254 | 2,233,254 | — | — | ||||||||||||
Information Technology | 10,081,416 | 10,081,416 | — | — | ||||||||||||
Materials | 661,823 | 661,823 | — | — | ||||||||||||
Utilities | 461,028 | 461,028 | — | — | ||||||||||||
TOTAL COMMON STOCKS | $ | 35,456,780 | $ | 35,456,780 | $ | — | $ | — | ||||||||
MASTER LIMITED PARTNERSHIP | ||||||||||||||||
Energy | 184,886 | 184,886 | — | — | ||||||||||||
REAL ESTATE INVESTMENT TRUST | — | |||||||||||||||
Financials | 262,723 | 262,723 | — | — | ||||||||||||
Real Estate | 1,638,823 | 1,638,823 | — | — | ||||||||||||
TOTAL REAL ESTATE INVESTMENT TRUST | $ | 1,901,546 | $ | 1,901,546 | $ | — | $ | — |
- 36 -
THE ALGER PORTFOLIOS
NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)
Alger Balanced Portfolio | TOTAL | LEVEL 1 | LEVEL 2 | LEVEL 3 | ||||||||||||
CORPORATE BONDS | ||||||||||||||||
Consumer Discretionary | $ | 998,200 | $ | — | $ | 998,200 | $ | — | ||||||||
Consumer Staples | 2,585,868 | — | 2,585,868 | — | ||||||||||||
Financials | 2,078,221 | — | 2,078,221 | — | �� | |||||||||||
Healthcare | 540,986 | — | 540,986 | — | ||||||||||||
Industrials | 2,269,751 | — | 2,269,751 | — | ||||||||||||
Information Technology | 5,882,252 | — | 5,882,252 | — | ||||||||||||
Real Estate | 1,276,010 | — | 1,276,010 | — | ||||||||||||
Utilities | 500,039 | — | 500,039 | — | ||||||||||||
TOTAL CORPORATE BONDS | $ | 16,131,327 | $ | — | $ | 16,131,327 | $ | — | ||||||||
TOTAL INVESTMENTS IN SECURITIES | $ | 53,674,539 | $ | 37,543,212 | $ | 16,131,327 | $ | — |
- 37 -
THE ALGER PORTFOLIOS
NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)
Alger Capital Appreciation Portfolio | FAIR VALUE MEASUREMENTS USING SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3) | |||
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 | 285,532 | |||
Purchases and sales | ||||
Purchases | 462,008 | |||
Sales | — | |||
Closing balance at September 30, 2021 | 1,222,540 | |||
Net change in unrealized appreciation (depreciation) attributable to investments still held at September 30, 2021 | 285,532 |
Alger Large Cap Growth Portfolio | FAIR VALUE MEASUREMENTS USING SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3) | |||
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 | 1,142,128 | |||
Purchases and sales | ||||
Purchases | — | |||
Sales | — | |||
Closing balance at September 30, 2021 | 3,042,128 | |||
Net change in unrealized appreciation (depreciation) attributable to investments still held at September 30, 2021 | 1,142,128 |
- 38 -
THE ALGER PORTFOLIOS
NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)
Alger Mid Cap Growth Portfolio | FAIR VALUE MEASUREMENTS USING SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3) | |||
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 September 30, 2021 | 25,563 | |||
Net change in unrealized appreciation (depreciation) attributable to investments still held at September 30, 2021 | — |
Alger Mid Cap Growth Portfolio | FAIR VALUE MEASUREMENTS USING SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3) | |||
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 | 34,007 | |||
Purchases and sales | ||||
Purchases | — | |||
Sales | — | |||
Closing balance at September 30, 2021 | 327,325 | |||
Net change in unrealized appreciation (depreciation) attributable to investments still held at September 30, 2021 | 34,007 |
- 39 -
THE ALGER PORTFOLIOS
NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)
FAIR VALUE MEASUREMENTS USING SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3) | ||||
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 | 749,281 | |||
Purchases and sales | ||||
Purchases | — | |||
Sales | — | |||
Closing balance at September 30, 2021 | 1,949,281 | |||
Net change in unrealized appreciation (depreciation) attributable to investments still held at September 30, 2021 | 749,281 |
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 September 30, 2021 | 1,592 | |||
Net change in unrealized appreciation (depreciation) attributable to investments still held at September 30, 2021 | — |
- 40 -
THE ALGER PORTFOLIOS
NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)
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 September 30, 2021 | 11,307 | |||
Net change in unrealized appreciation (depreciation) attributable to investments still held at September 30, 2021 | — |
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 | 23,026 | |||
Purchases and sales | ||||
Purchases | — | |||
Sales | — | |||
Closing balance at September 30, 2021 | 221,629 | |||
Net change in unrealized appreciation (depreciation) attributable to investments still held at September 30, 2021 | 23,026 |
- 41 -
THE ALGER PORTFOLIOS
NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)
FAIR VALUE MEASUREMENTS USING SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3) | ||||
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 | 1,047,692 | |||
Purchases and sales | ||||
Purchases | — | |||
Sales | — | |||
Closing balance at September 30, 2021 | 2,747,692 | |||
Net change in unrealized appreciation (depreciation) attributable to investments still held at September 30, 2021 | 1,047,692 |
The following table provides quantitative information about the Portfolios’ Level 3 fair value measurements of the Portfolios’ investments as of September 30, 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 September 30, 2021 | Valuation Methodology | Unobservable Input | Input/Range | Weighted Average | |||||||||||
Alger Capital Appreciation Portfolio | |||||||||||||||
Special Purpose Vehicle | $ | 1,222,540 | Cost Approach | Priced at Cost | N/A | N/A | |||||||||
Alger Large Cap Growth Portfolio | |||||||||||||||
Special Purpose Vehicle | 3,042,128 | Cost Approach | Priced at Cost | N/A | N/A | ||||||||||
Alger Mid Cap Growth Portfolio | |||||||||||||||
Preferred Stocks | 25,563 | Income Approach | Discount Rate | 72.50%-77.50% | N/A | ||||||||||
Rights | 327,325 | Income Approach | Discount Rate | 3.40%-5.12% | N/A | ||||||||||
Probability of Success | 0.00%-100.00% | N/A | |||||||||||||
Special Purpose Vehicle | 1,949,281 | 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 |
- 42 -
THE ALGER PORTFOLIOS
NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)
Fair Value September 30, 2021 | Valuation Methodology | Unobservable Input | Input/Range | Weighted Average | ||||||||||
Alger Small Cap Growth Portfolio | ||||||||||||||
Preferred Stocks | $ | 11,307 | Income Approach | Discount Rate | 72.50%-77.50% | N/A | ||||||||
Rights | 221,629 | Income | Discount Rate | 3.40%-5.12% | N/A | |||||||||
Approach | ||||||||||||||
Probability of Success | 0.00%-100.00% | N/A | ||||||||||||
Special Purpose Vehicle | 2,747,692 | 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 September 30, 2021, such assets were categorized within the ASC 820 disclosure hierarchy as follows:
TOTAL FUND | LEVEL 1 | LEVEL 2 | LEVEL 3 | |||||||||||||
Cash, Foreign cash and Cash equivalents: | ||||||||||||||||
Alger Capital Appreciation Portfolio | $ | 5,361,886 | $ | — | $ | 5,361,886 | $ | — | ||||||||
Alger Large Cap Growth Portfolio | 4,058,877 | — | 4,058,877 | — | ||||||||||||
Alger Mid Cap Growth Portfolio | (33,125 | ) | — | (33,125 | ) | — | ||||||||||
Alger Growth & Income Portfolio | 120,605 | — | 120,605 | — | ||||||||||||
Alger Weatherbie Specialized Growth Portfolio | 56,349 | — | 56,349 | — | ||||||||||||
Alger Small Cap Growth Portfolio | 6,139,805 | — | 6,139,805 | — | ||||||||||||
Alger Balanced Portfolio | 3,796,247 | — | 3,796,247 | — | ||||||||||||
Total | $ | 19,500,644 | $ | — | $ | 19,500,644 | $ | — |
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.
- 43 -
THE ALGER PORTFOLIOS
NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)
There were no options or other derivative instruments held by the Portfolios throughout the period or as of September 30, 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 September 30, 2021. Information regarding the Portfolios’ holdings of such securities is set forth in the following table:
Security | Value at December31, 2020 | Purchases/ Conversion | Sales/ Conversion | Dividend/ InterestIncome | Realized Gain (Loss) | Net Change inApp(Dep) | Value at September30, 2021 | |||||||||||||||||||||
Alger Capital Appreciation Portfolio | ||||||||||||||||||||||||||||
Special Purpose Vehicle | ||||||||||||||||||||||||||||
Crosslink Ventures Capital LLC, | ||||||||||||||||||||||||||||
Cl. A | $ | 475,000 | $ | – | $ | – | $ | – | $ | – | $ | 285,532 | $ | 760,532 | ||||||||||||||
Total | $ | 475,000 | $ | – | $ | – | $ | – | $ | – | $ | 285,532 | $ | 760,532 |
Security | Value at December31, 2020 | Purchases/ Conversion | Sales/ Conversion | Dividend/ InterestIncome | Realized Gain (Loss) | Net Change inApp(Dep) | Value at September30, 2021 | |||||||||||||||||||||
Alger Large Cap Growth Portfolio | ||||||||||||||||||||||||||||
Common Stocks | ||||||||||||||||||||||||||||
Alger 25 Fund, Cl. P* | $ | 13,794,828 | $ | – | $ | (9,916,555 | ) | $ | 1,428,317 | $ | – | $ | (5,306,590 | ) | $ | – | ||||||||||||
Alger 35 ETF | – | 7,008,140 | – | – | – | 642,815 | 7,650,955 | |||||||||||||||||||||
Alger 35 Fund* | – | 9,916,555 | (7,000,000 | ) | – | 2,591,804 | 2,637,242 | 8,145,601 | ||||||||||||||||||||
Special Purpose Vehicle | ||||||||||||||||||||||||||||
Crosslink Ventures Capital LLC, | ||||||||||||||||||||||||||||
Cl. A | 1,900,000 | – | – | – | – | 1,142,128 | 3,042,128 | |||||||||||||||||||||
Total | $ | 15,694,828 | $ | 16,924,695 | $ | (16,916,555 | ) | $ | 1,428,317 | $ | 2,591,804 | $ | (884,405 | ) | $ | 18,838,684 |
- 44 -
THE ALGER PORTFOLIOS
NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)
Security | Value at December31, 2020 | Purchases/ Conversion | Sales/ Conversion | Dividend/ InterestIncome | Realized Gain (Loss) | Net Change inApp(Dep) | Value at September30, 2021 | |||||||||||||||||||||
Alger Mid Cap Growth Portfolio | ||||||||||||||||||||||||||||
Common Stocks | ||||||||||||||||||||||||||||
Alger Mid Cap 40 ETF | $ | – | $ | 7,074,371 | $ | (109,408 | ) | $ | – | $ | (5,044 | ) | $ | 779,972 | $ | 7,739,891 | ||||||||||||
Preferred Stocks | ||||||||||||||||||||||||||||
Prosetta Biosciences, Inc., | ||||||||||||||||||||||||||||
Series D | 25,563 | – | – | – | – | – | 25,563 | |||||||||||||||||||||
Special Purpose Vehicle | ||||||||||||||||||||||||||||
Crosslink Ventures Capital LLC, | ||||||||||||||||||||||||||||
Cl. A | 875,000 | – | – | – | – | 525,980 | 1,400,980 | |||||||||||||||||||||
Crosslink Ventures Capital LLC, | ||||||||||||||||||||||||||||
Cl. B | 325,000 | – | – | – | – | 223,301 | 548,301 | |||||||||||||||||||||
Total | $ | 1,225,563 | $ | 7,074,371 | $ | (109,409 | ) | $ | – | $ | (5,044 | ) | $ | 1,529,253 | $ | 9,714,735 |
Security | Value at December31, 2020 | Purchases/ Conversion | Sales/ Conversion | Dividend/ InterestIncome | Realized Gain (Loss) | Net Change inApp(Dep) | Value at September30, 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 December31, 2020 | Purchases/ Conversion | Sales/ Conversion | Dividend/ InterestIncome | Realized Gain (Loss) | Net Change inApp(Dep) | Value at September30, 2021 | |||||||||||||||||||||
Alger Small Cap Growth Portfolio | ||||||||||||||||||||||||||||
Preferred Stocks | ||||||||||||||||||||||||||||
Prosetta Biosciences, Inc., | ||||||||||||||||||||||||||||
Series D | $ | 11,307 | $ | – | $ | – | $ | – | $ | – | $ | – | $ | 11,307 | ||||||||||||||
Special Purpose Vehicle | ||||||||||||||||||||||||||||
Crosslink Ventures Capital LLC, | ||||||||||||||||||||||||||||
Cl. A | 1,400,000 | – | – | – | – | 841,568 | 2,241,568 | |||||||||||||||||||||
Crosslink Ventures Capital LLC, | ||||||||||||||||||||||||||||
Cl. B | 300,000 | – | – | – | – | 206,124 | 506,124 | |||||||||||||||||||||
Total | $ | 1,711,307 | $ | – | $ | – | $ | – | $ | – | $ | 1,047,692 | $ | 2,758,999 |
* Alger 25 Fund merged into Alger 35 Fund as of May 7, 2021.
- 45 -