COMMON STOCKS—97.7% | SHARES | VALUE | ||||||
ADVERTISING—0.8% | ||||||||
The Trade Desk, Inc., Cl. A* | 39,228 | $ | 3,065,668 | |||||
AEROSPACE & DEFENSE—2.9% | ||||||||
HEICO Corp., Cl. A | 28,008 | 3,619,194 | ||||||
TransDigm Group, Inc.* | 9,246 | 7,795,580 | ||||||
11,414,774 | ||||||||
APPLICATION SOFTWARE—3.9% | ||||||||
Adobe, Inc.* | 14,092 | 7,185,511 | ||||||
Cadence Design Systems, Inc.* | 12,505 | 2,929,922 | ||||||
Datadog, Inc., Cl. A* | 17,334 | 1,578,954 | ||||||
Intuit, Inc. | 6,711 | 3,428,918 | ||||||
15,123,305 | ||||||||
AUTOMOBILE MANUFACTURERS—2.4% | ||||||||
Tesla, Inc.* | 36,472 | 9,126,024 | ||||||
AUTOMOTIVE PARTS & EQUIPMENT—0.5% | ||||||||
Mobileye Global, Inc., Cl. A* | 46,449 | 1,929,956 | ||||||
BIOTECHNOLOGY—3.6% | ||||||||
Natera, Inc.* | 126,378 | 5,592,227 | ||||||
Regeneron Pharmaceuticals, Inc.* | 2,646 | 2,177,552 | ||||||
Vaxcyte, Inc.* | 66,356 | 3,382,829 | ||||||
Vertex Pharmaceuticals, Inc.* | 7,850 | 2,729,759 | ||||||
13,882,367 | ||||||||
BROADLINE RETAIL—8.1% | ||||||||
Amazon.com, Inc.* | 191,982 | 24,404,752 | ||||||
MercadoLibre, Inc.* | 5,640 | 7,150,843 | ||||||
31,555,595 | ||||||||
CARGO GROUND TRANSPORTATION—0.4% | ||||||||
Old Dominion Freight Line, Inc. | 3,925 | 1,605,875 | ||||||
CASINOS & GAMING—1.9% | ||||||||
DraftKings, Inc., Cl. A* | 80,964 | 2,383,580 | ||||||
Flutter Entertainment PLC* | 14,834 | 2,419,991 | ||||||
Las Vegas Sands Corp.* | 28,349 | 1,299,518 | ||||||
MGM Resorts International | 30,046 | 1,104,491 | ||||||
7,207,580 | ||||||||
CONSTRUCTION & ENGINEERING—0.5% | ||||||||
Quanta Services, Inc. | 10,516 | 1,967,228 | ||||||
CONSTRUCTION MACHINERY & HEAVY TRANSPORTATION EQUIPMENT—0.6% | ||||||||
Wabtec Corp. | 20,283 | 2,155,474 | ||||||
CONSTRUCTION MATERIALS—1.3% | ||||||||
Martin Marietta Materials, Inc. | 12,318 | 5,056,293 | ||||||
ELECTRICAL COMPONENTS & EQUIPMENT—0.5% | ||||||||
Eaton Corp. PLC | 6,167 | 1,315,298 | ||||||
Vertiv Holdings Co., Cl. A | 20,709 | 770,375 | ||||||
2,085,673 | ||||||||
ENVIRONMENTAL & FACILITIES SERVICES—1.1% | ||||||||
GFL Environmental, Inc. | 136,971 | 4,350,199 |
COMMON STOCKS—97.7% (CONT.) | SHARES | VALUE | ||||||
FINANCIAL EXCHANGES & DATA—2.2% | ||||||||
CME Group, Inc., Cl. A | 13,408 | $ | 2,684,550 | |||||
S&P Global, Inc. | 15,911 | 5,814,038 | ||||||
8,498,588 | ||||||||
HEALTHCARE DISTRIBUTORS—1.2% | ||||||||
McKesson Corp. | 10,697 | 4,651,591 | ||||||
HEALTHCARE EQUIPMENT—3.0% | ||||||||
Boston Scientific Corp.* | 111,711 | 5,898,341 | ||||||
Dexcom, Inc.* | 26,331 | 2,456,682 | ||||||
Intuitive Surgical, Inc.* | 12,157 | 3,553,369 | ||||||
11,908,392 | ||||||||
HEALTHCARE FACILITIES—0.9% | ||||||||
Acadia Healthcare Co., Inc.* | 50,227 | 3,531,460 | ||||||
HOTELS RESORTS & CRUISE LINES—1.4% | ||||||||
Booking Holdings, Inc.* | 601 | 1,853,454 | ||||||
Trip.com Group Ltd.#,* | 97,855 | 3,421,989 | ||||||
5,275,443 | ||||||||
INDUSTRIAL GASES—0.5% | ||||||||
Air Products & Chemicals, Inc. | 7,313 | 2,072,504 | ||||||
INTERACTIVE MEDIA & SERVICES—11.4% | ||||||||
Alphabet, Inc., Cl. C* | 154,393 | 20,356,717 | ||||||
Meta Platforms, Inc., Cl. A* | 69,243 | 20,787,441 | ||||||
Pinterest, Inc., Cl. A* | 116,452 | 3,147,698 | ||||||
44,291,856 | ||||||||
INTERNET SERVICES & INFRASTRUCTURE—0.5% | ||||||||
MongoDB, Inc., Cl. A* | 5,245 | 1,814,036 | ||||||
LIFE SCIENCES TOOLS & SERVICES—0.8% | ||||||||
Danaher Corp. | 13,192 | 3,272,935 | ||||||
MANAGED HEALTHCARE—2.2% | ||||||||
Humana, Inc. | 8,745 | 4,254,617 | ||||||
UnitedHealth Group, Inc. | 8,481 | 4,276,035 | ||||||
8,530,652 | ||||||||
MOVIES & ENTERTAINMENT—1.8% | ||||||||
Liberty Media Corp. Series C Liberty Formula One* | 37,179 | 2,316,252 | ||||||
Netflix, Inc.* | 12,346 | 4,661,849 | ||||||
6,978,101 | ||||||||
OIL & GAS EQUIPMENT & SERVICES—1.3% | ||||||||
Schlumberger NV | 87,047 | 5,074,840 | ||||||
OIL & GAS EXPLORATION & PRODUCTION—1.6% | ||||||||
Diamondback Energy, Inc. | 17,658 | 2,734,871 | ||||||
Pioneer Natural Resources Co. | 14,810 | 3,399,636 | ||||||
6,134,507 | ||||||||
OIL & GAS STORAGE & TRANSPORTATION—0.6% | ||||||||
Cheniere Energy, Inc. | 13,942 | 2,313,814 | ||||||
PASSENGER GROUND TRANSPORTATION—0.6% | ||||||||
Uber Technologies, Inc.* | 51,506 | 2,368,761 |
COMMON STOCKS—97.7% (CONT.) | SHARES | VALUE | ||||||
PHARMACEUTICALS—1.7% | ||||||||
AstraZeneca PLC# | 36,778 | $ | 2,490,606 | |||||
Eli Lilly & Co. | 7,980 | 4,286,298 | ||||||
6,776,904 | ||||||||
SEMICONDUCTORS—11.7% | ||||||||
Advanced Micro Devices, Inc.* | 16,240 | 1,669,797 | ||||||
Broadcom, Inc. | 1,914 | 1,589,730 | ||||||
Marvell Technology, Inc. | 128,139 | 6,936,164 | ||||||
NVIDIA Corp. | 70,346 | 30,599,807 | ||||||
Taiwan Semiconductor Manufacturing Co., Ltd.# | 53,706 | 4,667,051 | ||||||
45,462,549 | ||||||||
SPECIALTY CHEMICALS—0.6% | ||||||||
Albemarle Corp. | 14,594 | 2,481,564 | ||||||
SYSTEMS SOFTWARE—14.9% | ||||||||
Microsoft Corp. | 162,146 | 51,197,599 | ||||||
Oracle Corp. | 16,441 | 1,741,431 | ||||||
Palo Alto Networks, Inc.* | 4,206 | 986,055 | ||||||
ServiceNow, Inc.* | 6,887 | 3,849,557 | ||||||
57,774,642 | ||||||||
TECHNOLOGY HARDWARE STORAGE & PERIPHERALS—6.7% | ||||||||
Apple, Inc. | 151,629 | 25,960,401 | ||||||
TRANSACTION & PAYMENT PROCESSING SERVICES—3.6% | ||||||||
Toast, Inc., Cl. A* | 91,902 | 1,721,324 | ||||||
Visa, Inc., Cl. A | 53,980 | 12,415,940 | ||||||
| 14,137,264 | |||||||
TOTAL COMMON STOCKS | | |||||||
(Cost $250,779,672) | 379,836,815 |
PREFERRED STOCKS—0.1% | SHARES | VALUE | ||||||
DATA PROCESSING & OUTSOURCED SERVICES—0.1% | ||||||||
Chime Financial, Inc., Series G*,@,(a) | 6,689 | 252,242 | ||||||
(Cost $462,008) | 252,242 | |||||||
SPECIAL PURPOSE VEHICLE—0.1% | VALUE | |||||||
DATA PROCESSING & OUTSOURCED SERVICES—0.1% | ||||||||
Crosslink Ventures Capital C, LLC, Cl. A*,@,(a),(b) | 437,361 | |||||||
(Cost $475,000) | 437,361 | |||||||
Total Investments | ||||||||
(Cost $251,716,680) | 97.9 | % | $ | 380,526,418 | ||||
Affiliated Securities (Cost $475,000) | 437,361 | |||||||
Unaffiliated Securities (Cost $251,241,680) | 380,089,057 | |||||||
Other Assets in Excess of Liabilities | 2.1 | % | 8,063,782 | |||||
NET ASSETS | 100.0 | % | $ | 388,590,200 |
# | American Depositary Receipts. |
* | Non-income producing security. |
(a) | Security is valued in good faith at fair value determined using significant unobservable inputs pursuant to procedures established by the Valuation Designee (as defined in Note 2). |
(b) | Deemed an affiliate of the Portfolio in accordance with Section 2(a)(3) of the Investment Company Act of 1940. See Note 4 - Affiliated Securities. |
@ | Restricted security - Investment in security not registered under the Securities Act of 1933. Sales or transfers of the investment may be restricted only to qualified buyers. |
Security | Acquisition Date(s) | Acquisition Cost | % of net assets (Acquisition Date) | Market Value | % of net assets as of 9/30/2023 | |||||||
Chime Financial, Inc., Series G | 8/24/21 | $ | 462,008 | 0.07% | $ | 252,242 | 0.07% | |||||
Crosslink Ventures Capital C, LLC, Cl. A | 10/2/20 | 475,000 | 0.08% | 437,361 | 0.11% | |||||||
Total | $ | 689,603 | 0.18% |
COMMON STOCKS—94.1% | SHARES | VALUE | ||||||
AEROSPACE & DEFENSE—5.9% | ||||||||
HEICO Corp. | 72,385 | $ | 11,721,303 | |||||
TransDigm Group, Inc.* | 4,672 | 3,939,103 | ||||||
15,660,406 | ||||||||
APPLICATION SOFTWARE—3.0% | ||||||||
Adobe, Inc.* | 7,080 | 3,610,092 | ||||||
Datadog, Inc., Cl. A* | 47,478 | 4,324,771 | ||||||
7,934,863 | ||||||||
AUTOMOBILE MANUFACTURERS—4.8% | ||||||||
Rivian Automotive, Inc., Cl. A* | 192,547 | 4,675,041 | ||||||
Tesla, Inc.* | 32,170 | 8,049,578 | ||||||
12,724,619 | ||||||||
BIOTECHNOLOGY—4.3% | ||||||||
Amgen, Inc. | 9,719 | 2,612,079 | ||||||
Natera, Inc.* | 92,565 | 4,096,001 | ||||||
Regeneron Pharmaceuticals, Inc.* | 3,164 | 2,603,845 | ||||||
Vertex Pharmaceuticals, Inc.* | 6,211 | 2,159,813 | ||||||
11,471,738 | ||||||||
BROADLINE RETAIL—10.3% | ||||||||
Amazon.com, Inc.* | 135,613 | 17,239,124 | ||||||
MercadoLibre, Inc.* | 8,034 | 10,186,148 | ||||||
27,425,272 | ||||||||
CASINOS & GAMING—0.8% | ||||||||
MGM Resorts International | 55,437 | 2,037,864 | ||||||
CONSTRUCTION MATERIALS—0.9% | ||||||||
Martin Marietta Materials, Inc. | 6,070 | 2,491,614 | ||||||
DIVERSIFIED BANKS—1.8% | ||||||||
JPMorgan Chase & Co. | 32,427 | 4,702,563 | ||||||
DIVERSIFIED SUPPORT SERVICES—0.7% | ||||||||
Cintas Corp. | 3,758 | 1,807,636 | ||||||
ELECTRICAL COMPONENTS & EQUIPMENT—0.7% | ||||||||
Generac Holdings, Inc.* | 16,942 | 1,846,000 | ||||||
ELECTRONIC EQUIPMENT & INSTRUMENTS—1.0% | ||||||||
Teledyne Technologies, Inc.* | 6,619 | 2,704,391 | ||||||
FOOTWEAR—0.6% | ||||||||
NIKE, Inc., Cl. B | 17,150 | 1,639,883 | ||||||
HEALTHCARE DISTRIBUTORS—1.1% | ||||||||
McKesson Corp. | 6,673 | 2,901,754 | ||||||
HEALTHCARE EQUIPMENT—2.6% | ||||||||
Boston Scientific Corp.* | 59,102 | 3,120,585 | ||||||
IDEXX Laboratories, Inc.* | 3,319 | 1,451,299 | ||||||
Intuitive Surgical, Inc.* | 3,337 | 975,372 | ||||||
Stryker Corp. | 4,788 | 1,308,417 | ||||||
6,855,673 | ||||||||
HEALTHCARE SUPPLIES—0.6% | ||||||||
Alcon, Inc. | 20,709 | 1,598,061 |
COMMON STOCKS—94.1% (CONT.) | SHARES | VALUE | ||||||
HEALTHCARE TECHNOLOGY—1.4% | ||||||||
Veeva Systems, Inc., Cl. A* | 18,052 | $ | 3,672,679 | |||||
HOTELS RESORTS & CRUISE LINES—1.7% | ||||||||
Trip.com Group Ltd.#,* | 127,917 | 4,473,257 | ||||||
HUMAN RESOURCE & EMPLOYMENT SERVICES—1.5% | ||||||||
Paycom Software, Inc. | 15,084 | 3,910,829 | ||||||
INTEGRATED OIL & GAS—1.1% | ||||||||
Occidental Petroleum Corp. | 46,723 | 3,031,388 | ||||||
INTERACTIVE MEDIA & SERVICES—4.7% | ||||||||
Alphabet, Inc., Cl. C* | 56,994 | 7,514,659 | ||||||
Meta Platforms, Inc., Cl. A* | 16,494 | 4,951,664 | ||||||
12,466,323 | ||||||||
INTERNET SERVICES & INFRASTRUCTURE—1.9% | ||||||||
Shopify, Inc., Cl. A* | 91,795 | 5,009,253 | ||||||
LIFE SCIENCES TOOLS & SERVICES—1.8% | ||||||||
Danaher Corp. | 14,384 | 3,568,670 | ||||||
West Pharmaceutical Services, Inc. | 3,432 | 1,287,721 | ||||||
4,856,391 | ||||||||
MANAGED HEALTHCARE—1.5% | ||||||||
UnitedHealth Group, Inc. | 7,711 | 3,887,809 | ||||||
MOVIES & ENTERTAINMENT—3.4% | ||||||||
Live Nation Entertainment, Inc.* | 14,656 | 1,217,034 | ||||||
Netflix, Inc.* | 20,818 | 7,860,877 | ||||||
9,077,911 | ||||||||
OIL & GAS EQUIPMENT & SERVICES—2.0% | ||||||||
Schlumberger NV | 91,709 | 5,346,635 | ||||||
OIL & GAS EXPLORATION & PRODUCTION—1.1% | ||||||||
Pioneer Natural Resources Co. | 13,124 | 3,012,614 | ||||||
PASSENGER GROUND TRANSPORTATION—1.9% | ||||||||
Uber Technologies, Inc.* | 110,103 | 5,063,637 | ||||||
PHARMACEUTICALS—1.7% | ||||||||
AstraZeneca PLC# | 19,283 | 1,305,845 | ||||||
Eli Lilly & Co. | 2,310 | 1,240,770 | ||||||
Sanofi | 17,933 | 1,925,652 | ||||||
4,472,267 | ||||||||
REAL ESTATE SERVICES—2.2% | ||||||||
CoStar Group, Inc.* | 44,205 | 3,398,922 | ||||||
FirstService Corp. | 16,151 | 2,350,617 | ||||||
5,749,539 | ||||||||
SEMICONDUCTOR MATERIALS & EQUIPMENT—2.1% | ||||||||
Lam Research Corp. | 3,868 | 2,424,346 | ||||||
SolarEdge Technologies, Inc.* | 25,142 | 3,256,141 | ||||||
5,680,487 |
COMMON STOCKS—94.1% (CONT.) | SHARES | VALUE | ||||||
SEMICONDUCTORS—7.7% | ||||||||
Advanced Micro Devices, Inc.* | 79,505 | $ | 8,174,704 | |||||
NVIDIA Corp. | 28,506 | 12,399,825 | ||||||
20,574,529 | ||||||||
SYSTEMS SOFTWARE—8.5% | ||||||||
Microsoft Corp. | 72,045 | 22,748,209 | ||||||
TECHNOLOGY HARDWARE STORAGE & PERIPHERALS—6.2% | ||||||||
Apple, Inc. | �� | 96,276 | 16,483,414 | |||||
TRANSACTION & PAYMENT PROCESSING SERVICES—2.6% | ||||||||
Visa, Inc., Cl. A | 30,564 | 7,030,026 | ||||||
TOTAL COMMON STOCKS | ||||||||
(Cost $212,424,131) | 250,349,534 | |||||||
EXCHANGE TRADED FUNDS—1.9% | SHARES | VALUE | ||||||
EXCHANGE TRADED FUNDS—1.9% | ||||||||
Alger 35 ETF(a) | 355,688 | 5,157,476 | ||||||
(Cost $6,841,858) | ||||||||
MUTUAL FUNDS—2.1% | SHARES | VALUE | ||||||
MUTUAL FUNDS—2.1% | ||||||||
Alger 35 Fund, Cl. Z(a) | 559,471 | 5,521,982 | ||||||
(Cost $7,604,417) | ||||||||
SPECIAL PURPOSE VEHICLE—0.7% | VALUE | |||||||
DATA PROCESSING & OUTSOURCED SERVICES—0.7% | ||||||||
Crosslink Ventures Capital C, LLC, Cl. A*,@,(a),(b) | 1,749,444 | |||||||
(Cost $1,900,000) | 1,749,444 | |||||||
Total Investments | ||||||||
(Cost $228,770,406) | 98.8 | % | $ | 262,778,436 | ||||
Affiliated Securities (Cost $16,346,275) | 12,428,902 | |||||||
Unaffiliated Securities (Cost $212,424,131) | 250,349,534 | |||||||
Other Assets in Excess of Liabilities | 1.2 | % | 3,168,999 | |||||
NET ASSETS | 100.0 | % | $ | 265,947,435 |
(a) | Deemed an affiliate of the Portfolio in accordance with Section 2(a)(3) of the Investment Company Act of 1940. See Note 4 - Affiliated Securities. |
(b) | Security is valued in good faith at fair value determined using significant unobservable inputs pursuant to procedures established by the Valuation Designee (as defined in Note 2). |
* | Non-income producing security. |
# | American Depositary Receipts. |
@ | 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 9/30/2023 | |||||||
Crosslink Ventures Capital C, LLC, Cl. A | 10/2/20 | $ | 1,900,000 | 0.51% | $ | 1,749,444 | | 0.66% | ||||
Total | $ | 1,749,444 | 0.66% |
COMMON STOCKS—95.8% | SHARES | VALUE | ||||||
AEROSPACE & DEFENSE—1.5% | ||||||||
General Dynamics Corp. | 575 | $ | 127,058 | |||||
RTX Corp. | 2,312 | 166,394 | ||||||
TransDigm Group, Inc.* | 270 | 227,645 | ||||||
521,097 | ||||||||
APPLICATION SOFTWARE—1.1% | ||||||||
Adobe, Inc.* | 761 | 388,034 | ||||||
ASSET MANAGEMENT & CUSTODY BANKS—3.0% | ||||||||
BlackRock, Inc., Cl. A | 786 | 508,141 | ||||||
Blackstone, Inc. | 3,822 | 409,489 | ||||||
The Carlyle Group, Inc. | 3,791 | 114,337 | ||||||
1,031,967 | ||||||||
BIOTECHNOLOGY—3.3% | ||||||||
AbbVie, Inc. | 5,196 | 774,516 | ||||||
Amgen, Inc. | 747 | 200,764 | ||||||
Gilead Sciences, Inc. | 2,077 | 155,650 | ||||||
1,130,930 | ||||||||
BROADLINE RETAIL—2.3% | ||||||||
Amazon.com, Inc.* | 6,352 | 807,466 | ||||||
BUILDING PRODUCTS—0.5% | ||||||||
Johnson Controls International PLC | 3,145 | 167,345 | ||||||
CABLE & SATELLITE—1.2% | ||||||||
Comcast Corp., Cl. A | 9,574 | 424,511 | ||||||
COMMODITY CHEMICALS—0.3% | ||||||||
Dow, Inc. | 2,062 | 106,317 | ||||||
COMMUNICATIONS EQUIPMENT—1.1% | ||||||||
Cisco Systems, Inc. | 7,217 | 387,986 | ||||||
CONSUMER ELECTRONICS—0.5% | ||||||||
Garmin Ltd. | 1,593 | 167,584 | ||||||
CONSUMER STAPLES MERCHANDISE RETAIL—0.9% | ||||||||
Walmart, Inc. | 1,946 | 311,224 | ||||||
COPPER—0.6% | ||||||||
Southern Copper Corp. | 2,680 | 201,777 | ||||||
DIVERSIFIED BANKS—4.1% | ||||||||
Bank of America Corp. | 13,503 | 369,712 | ||||||
JPMorgan Chase & Co. | 7,126 | 1,033,413 | ||||||
1,403,125 | ||||||||
ELECTRIC UTILITIES—0.6% | ||||||||
NextEra Energy, Inc. | 3,539 | 202,749 | ||||||
ELECTRICAL COMPONENTS & EQUIPMENT—1.8% | ||||||||
Eaton Corp. PLC | 2,902 | 618,939 | ||||||
FINANCIAL EXCHANGES & DATA—1.1% | ||||||||
CME Group, Inc., Cl. A | 1,866 | 373,610 | ||||||
FOOD DISTRIBUTORS—0.5% | ||||||||
Sysco Corp. | 2,695 | 178,005 |
COMMON STOCKS—95.8% (CONT.) | SHARES | VALUE | ||||||
GOLD—0.3% | ||||||||
Newmont Corp. | 2,823 | $ | 104,310 | |||||
HEALTHCARE DISTRIBUTORS—0.5% | ||||||||
Cardinal Health, Inc. | 2,190 | 190,136 | ||||||
HEALTHCARE EQUIPMENT—0.6% | ||||||||
Medtronic PLC | 2,707 | 212,121 | ||||||
HOME IMPROVEMENT RETAIL—2.5% | ||||||||
The Home Depot, Inc. | 2,864 | 865,386 | ||||||
HOUSEHOLD PRODUCTS—1.6% | ||||||||
The Procter & Gamble Co. | 3,780 | 551,351 | ||||||
INDUSTRIAL CONGLOMERATES—1.8% | ||||||||
Honeywell International, Inc. | 3,352 | 619,248 | ||||||
INDUSTRIAL GASES—1.2% | ||||||||
Air Products & Chemicals, Inc. | 1,426 | 404,128 | ||||||
INTEGRATED OIL & GAS—4.5% | ||||||||
Chevron Corp. | 3,993 | 673,300 | ||||||
Exxon Mobil Corp. | 4,771 | 560,974 | ||||||
TotalEnergies SE# | 4,622 | 303,943 | ||||||
1,538,217 | ||||||||
INTEGRATED TELECOMMUNICATION SERVICES—0.8% | ||||||||
Verizon Communications, Inc. | 8,909 | 288,741 | ||||||
INTERACTIVE MEDIA & SERVICES—7.7% | ||||||||
Alphabet, Inc., Cl. A* | 9,319 | 1,219,484 | ||||||
Alphabet, Inc., Cl. C* | 7,396 | 975,163 | ||||||
Meta Platforms, Inc., Cl. A* | 1,488 | 446,712 | ||||||
2,641,359 | ||||||||
INVESTMENT BANKING & BROKERAGE—2.2% | ||||||||
Morgan Stanley | 9,310 | 760,348 | ||||||
LEISURE FACILITIES—0.5% | ||||||||
Vail Resorts, Inc. | 745 | 165,308 | ||||||
MANAGED HEALTHCARE—3.1% | ||||||||
UnitedHealth Group, Inc. | 2,092 | 1,054,765 | ||||||
MULTI-LINE INSURANCE—0.5% | ||||||||
The Hartford Financial Services Group, Inc. | 2,413 | 171,106 | ||||||
MULTI-UTILITIES—1.1% | ||||||||
Consolidated Edison, Inc. | 2,203 | 188,423 | ||||||
Sempra Energy | 2,938 | 199,872 | ||||||
388,295 | ||||||||
OIL & GAS EXPLORATION & PRODUCTION—0.6% | ||||||||
Pioneer Natural Resources Co. | 838 | 192,363 | ||||||
OIL & GAS STORAGE & TRANSPORTATION—0.5% | ||||||||
ONEOK, Inc. | 2,482 | 157,433 | ||||||
PERSONAL CARE PRODUCTS—0.2% | ||||||||
Kenvue, Inc. | 4,100 | 82,328 |
COMMON STOCKS—95.8% (CONT.) | SHARES | VALUE | ||||||
PHARMACEUTICALS—6.5% | ||||||||
AstraZeneca PLC# | 4,694 | $ | 317,878 | |||||
Bristol-Myers Squibb Co. | 2,791 | 161,990 | ||||||
Eli Lilly & Co. | 950 | 510,273 | ||||||
GSK PLC# | 3,145 | 114,006 | ||||||
Johnson & Johnson | 3,259 | 507,589 | ||||||
Merck & Co., Inc. | 2,454 | 252,639 | ||||||
Novartis AG# | 1,701 | 173,264 | ||||||
Pfizer, Inc. | 6,356 | 210,829 | ||||||
2,248,468 | ||||||||
RAIL TRANSPORTATION—0.7% | ||||||||
Union Pacific Corp. | 1,121 | 228,269 | ||||||
RESTAURANTS—1.5% | ||||||||
McDonald’s Corp. | 1,094 | 288,203 | ||||||
Starbucks Corp. | 2,588 | 236,207 | ||||||
524,410 | ||||||||
SEMICONDUCTOR MATERIALS & EQUIPMENT—3.0% | ||||||||
KLA Corp. | 2,247 | 1,030,609 | ||||||
SEMICONDUCTORS—5.5% | ||||||||
Broadcom, Inc. | 1,421 | 1,180,254 | ||||||
QUALCOMM, Inc. | 4,236 | 470,450 | ||||||
Taiwan Semiconductor Manufacturing Co., Ltd.# | 2,795 | 242,886 | ||||||
1,893,590 | ||||||||
SOFT DRINKS & NON-ALCOHOLIC BEVERAGES—2.7% | ||||||||
PepsiCo, Inc. | 3,203 | 542,716 | ||||||
The Coca-Cola Co. | 7,129 | 399,082 | ||||||
941,798 | ||||||||
SYSTEMS SOFTWARE—10.1% | ||||||||
Microsoft Corp. | 10,277 | 3,244,963 | ||||||
Oracle Corp. | 2,233 | 236,519 | ||||||
3,481,482 | ||||||||
TECHNOLOGY HARDWARE STORAGE & PERIPHERALS—8.5% | ||||||||
Apple, Inc. | 17,110 | 2,929,403 | ||||||
TOBACCO—1.1% | ||||||||
Altria Group, Inc. | 5,257 | 221,057 | ||||||
Philip Morris International, Inc. | 1,906 | 176,457 | ||||||
397,514 | ||||||||
TRANSACTION & PAYMENT PROCESSING SERVICES—1.6% | ||||||||
Visa, Inc., Cl. A | 2,403 | 552,714 | ||||||
TOTAL COMMON STOCKS | ||||||||
(Cost $12,675,297) | 33,037,866 | |||||||
MASTER LIMITED PARTNERSHIP—0.7% | SHARES | VALUE | ||||||
OIL & GAS STORAGE & TRANSPORTATION—0.7% | ||||||||
Cheniere Energy Partners LP | 4,055 | 219,741 | ||||||
(Cost $134,201) | 219,741 |
REAL ESTATE INVESTMENT TRUST—3.5% | SHARES | VALUE | ||||||
HEALTHCARE—0.7% | ||||||||
Welltower, Inc. | 2,809 | $ | 230,113 | |||||
INDUSTRIAL—0.4% | ||||||||
Prologis, Inc. | 1,199 | 134,540 | ||||||
MORTGAGE—0.5% | ||||||||
Blackstone Mortgage Trust, Inc., Cl. A | 7,795 | 169,541 | ||||||
RETAIL—0.7% | ||||||||
Simon Property Group, Inc. | 2,280 | 246,309 | ||||||
SPECIALIZED—0.5% | ||||||||
Lamar Advertising Co., Cl. A | 2,090 | 174,452 | ||||||
TELECOM TOWER—0.7% | ||||||||
Crown Castle Inc. | 2,841 | 261,457 | ||||||
TOTAL REAL ESTATE INVESTMENT TRUST | ||||||||
(Cost $1,119,098) | 1,216,412 | |||||||
Total Investments | ||||||||
(Cost $13,928,596) | 100.0 | % | $ | 34,474,019 | ||||
Unaffiliated Securities (Cost $13,928,596) | 34,474,019 | |||||||
Other Assets in Excess of Liabilities | 0.0 | % | 5,585 | |||||
NET ASSETS | 100.0 | % | $ | 34,479,604 |
# | American Depositary Receipts. |
* | Non-income producing security. |
COMMON STOCKS—94.7% | SHARES | VALUE | ||||||
ADVERTISING—2.3% | ||||||||
The Trade Desk, Inc., Cl. A* | 36,754 | $ | 2,872,325 | |||||
AEROSPACE & DEFENSE—4.5% | ||||||||
HEICO Corp. | 16,385 | 2,653,223 | ||||||
TransDigm Group, Inc.* | 3,476 | 2,930,720 | ||||||
5,583,943 | ||||||||
APPLICATION SOFTWARE—12.6% | ||||||||
Bill.com Holdings, Inc.* | 8,566 | 930,011 | ||||||
Cadence Design Systems, Inc.* | 8,591 | 2,012,871 | ||||||
Constellation Software, Inc. | 1,641 | 3,388,049 | ||||||
Datadog, Inc., Cl. A* | 24,280 | 2,211,665 | ||||||
Guidewire Software, Inc.* | 22,039 | 1,983,510 | ||||||
Manhattan Associates, Inc.* | 9,340 | 1,846,145 | ||||||
Procore Technologies, Inc.* | 20,434 | 1,334,749 | ||||||
The Descartes Systems Group, Inc.* | 24,413 | 1,791,946 | ||||||
15,498,946 | ||||||||
ASSET MANAGEMENT & CUSTODY BANKS—2.0% | ||||||||
Ares Management Corp., Cl. A | 24,035 | 2,472,480 | ||||||
AUTOMOTIVE PARTS & EQUIPMENT—0.9% | ||||||||
Mobileye Global, Inc., Cl. A* | 27,413 | 1,139,010 | ||||||
AUTOMOTIVE RETAIL—1.6% | ||||||||
AutoZone, Inc.* | 796 | 2,021,832 | ||||||
BIOTECHNOLOGY—2.4% | ||||||||
Natera, Inc.* | 46,526 | 2,058,776 | ||||||
Vaxcyte, Inc.* | 17,030 | 868,189 | ||||||
2,926,965 | ||||||||
BUILDING PRODUCTS—0.7% | ||||||||
Trex Co., Inc.* | 14,177 | 873,728 | ||||||
CARGO GROUND TRANSPORTATION—2.3% | ||||||||
Old Dominion Freight Line, Inc. | 6,969 | 2,851,297 | ||||||
CONSTRUCTION & ENGINEERING—1.6% | ||||||||
WillScot Mobile Mini Holdings Corp.* | 47,420 | 1,972,198 | ||||||
CONSTRUCTION MACHINERY & HEAVY TRANSPORTATION EQUIPMENT—1.5% | ||||||||
Wabtec Corp. | 17,082 | 1,815,304 | ||||||
CONSTRUCTION MATERIALS—1.9% | ||||||||
Martin Marietta Materials, Inc. | 5,803 | 2,382,015 | ||||||
CONSUMER STAPLES MERCHANDISE RETAI—1.4% | ||||||||
BJ’s Wholesale Club Holdings, Inc.* | 23,481 | 1,675,839 | ||||||
ELECTRONIC COMPONENTS—2.2% | ||||||||
Amphenol Corp., Cl. A | 32,179 | 2,702,714 | ||||||
ELECTRONIC EQUIPMENT & INSTRUMENTS—1.2% | ||||||||
Novanta, Inc.* | 10,651 | 1,527,779 | ||||||
ENVIRONMENTAL & FACILITIES SERVICES—3.3% | ||||||||
GFL Environmental, Inc. | 129,431 | 4,110,729 | ||||||
FINANCIAL EXCHANGES & DATA—2.7% | ||||||||
MSCI, Inc., Cl. A | 6,483 | 3,326,298 |
COMMON STOCKS—94.7% (CONT.) | SHARES | VALUE | ||||||
HEALTHCARE EQUIPMENT—5.4% | ||||||||
Dexcom, Inc.* | 20,405 | $ | 1,903,786 | |||||
IDEXX Laboratories, Inc.* | 6,096 | 2,665,598 | ||||||
Insulet Corp.* | 5,287 | 843,224 | ||||||
Teleflex, Inc. | 6,377 | 1,252,507 | ||||||
6,665,115 | ||||||||
HEALTHCARE FACILITIES—1.6% | ||||||||
Acadia Healthcare Co., Inc.* | 27,756 | 1,951,524 | ||||||
HEALTHCARE TECHNOLOGY—1.7% | ||||||||
Veeva Systems, Inc., Cl. A* | 10,497 | 2,135,615 | ||||||
HOME IMPROVEMENT RETAIL—1.7% | ||||||||
Floor & Decor Holdings, Inc., Cl. A* | 22,670 | 2,051,635 | ||||||
HOMEBUILDING—1.0% | ||||||||
NVR, Inc.* | 214 | 1,276,146 | ||||||
HOTELS RESORTS & CRUISE LINES—1.9% | ||||||||
Hilton Worldwide Holdings, Inc. | 15,223 | 2,286,190 | ||||||
HUMAN RESOURCE & EMPLOYMENT SERVICES—1.4% | ||||||||
Paycom Software, Inc. | 6,552 | 1,698,737 | ||||||
INSURANCE BROKERS—1.5% | ||||||||
Ryan Specialty Holdings, Inc., Cl. A* | 38,563 | 1,866,449 | ||||||
INTERACTIVE MEDIA & SERVICES—1.4% | ||||||||
Pinterest, Inc., Cl. A* | 61,410 | 1,659,912 | ||||||
INTERNET SERVICES & INFRASTRUCTURE—1.6% | ||||||||
MongoDB, Inc., Cl. A* | 5,766 | 1,994,229 | ||||||
IT CONSULTING & OTHER SERVICES—1.9% | ||||||||
Globant SA* | 11,788 | 2,332,256 | ||||||
LIFE SCIENCES TOOLS & SERVICES—6.2% | ||||||||
Mettler-Toledo International, Inc.* | 1,324 | 1,467,085 | ||||||
Repligen Corp.* | 16,619 | 2,642,587 | ||||||
West Pharmaceutical Services, Inc. | 9,249 | 3,470,317 | ||||||
7,579,989 | ||||||||
MOVIES & ENTERTAINMENT—1.3% | ||||||||
Liberty Media Corp. Series C Liberty Formula One* | 25,503 | 1,588,837 | ||||||
OIL & GAS EXPLORATION & PRODUCTION—3.2% | ||||||||
Diamondback Energy, Inc. | 25,304 | 3,919,084 | ||||||
OTHER SPECIALTY RETAIL—0.4% | ||||||||
Five Below, Inc.* | 3,161 | 508,605 | ||||||
PROPERTY & CASUALTY INSURANCE—1.6% | ||||||||
Intact Financial Corp. | 13,028 | 1,899,499 | ||||||
REAL ESTATE SERVICES—4.9% | ||||||||
CoStar Group, Inc.* | 28,661 | 2,203,744 | ||||||
FirstService Corp. | 26,560 | 3,865,543 | ||||||
6,069,287 |
COMMON STOCKS—94.7% (CONT.) | SHARES | VALUE | ||||||
RESEARCH & CONSULTING SERVICES—2.2% | ||||||||
TransUnion | 21,290 | $ | 1,528,409 | |||||
Verisk Analytics, Inc., Cl. A | 5,040 | 1,190,650 | ||||||
2,719,059 | ||||||||
RESTAURANTS—3.5% | ||||||||
Chipotle Mexican Grill, Inc., Cl. A* | 1,112 | 2,036,995 | ||||||
Domino’s Pizza, Inc. | 5,808 | 2,200,012 | ||||||
4,237,007 | ||||||||
SEMICONDUCTORS—5.2% | ||||||||
Lattice Semiconductor Corp.* | 14,524 | 1,248,047 | ||||||
Marvell Technology, Inc. | 50,702 | 2,744,499 | ||||||
ON Semiconductor Corp.* | 25,626 | 2,381,937 | ||||||
6,374,483 | ||||||||
TOTAL COMMON STOCKS | ||||||||
(Cost $106,539,287) | 116,567,060 | |||||||
EXCHANGE TRADED FUNDS—3.2% | SHARES | VALUE | ||||||
EXCHANGE TRADED FUNDS—3.2% | ||||||||
Alger Mid Cap 40 ETF*,(a) | 319,554 | 3,873,218 | ||||||
(Cost $6,418,069) | 3,873,218 | |||||||
PREFERRED STOCKS—0.0% | SHARES | VALUE | ||||||
BIOTECHNOLOGY—0.0% | ||||||||
Prosetta Biosciences, Inc., Series D*,@,(a),(b) | 170,419 | – | ||||||
(Cost $766,885) | – | |||||||
WARRANTS—0.0% | SHARES | VALUE | ||||||
APPLICATION SOFTWARE—0.0% | ||||||||
Constellation Software, Inc., 3/31/40*,(b) | 1,318 | – | ||||||
(Cost $0) | – | |||||||
RIGHTS—0.3% | SHARES | VALUE | ||||||
BIOTECHNOLOGY—0.3% | ||||||||
Tolero CDR*,@,(b),(c) | 425,098 | 297,569 | ||||||
(Cost $227,341) | 297,569 | |||||||
SPECIAL PURPOSE VEHICLE—0.9% | VALUE | |||||||
DATA PROCESSING & OUTSOURCED SERVICES—0.9% | ||||||||
Crosslink Ventures Capital C, LLC, Cl. A*,@,(a),(b) | 805,665 | |||||||
Crosslink Ventures Capital C, LLC, Cl. B*,@,(a),(b) | 299,247 | |||||||
1,104,912 | ||||||||
TOTAL SPECIAL PURPOSE VEHICLE | ||||||||
(Cost $1,200,000) | 1,104,912 | |||||||
Total Investments | ||||||||
(Cost $115,151,582) | 99.1 | % | $ | 121,842,759 | ||||
Affiliated Securities (Cost $8,384,954) | 4,978,130 | |||||||
Unaffiliated Securities (Cost $106,766,628) | 116,864,629 | |||||||
Other Assets in Excess of Liabilities | 0.9 | % | 1,150,363 | |||||
NET ASSETS | 100.0 | % | $ | 122,993,122 |
* | 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 4 - Affiliated Securities. |
(b) | Security is valued in good faith at fair value determined using significant unobservable inputs pursuant to procedures established by the Valuation Designee (as defined in Note 2). |
(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 9/30/2023 | |||||||||||||
Crosslink Ventures Capital C, LLC, Cl. A | 10/2/20 | $ | 875,000 | 0.50% | $ | 805,665 | 0.65% | |||||||||||
Crosslink Ventures Capital C, LLC, Cl. B | 12/16/20 | 325,000 | 0.18% | 299,247 | 0.24% | |||||||||||||
Prosetta Biosciences, Inc., Series D | 2/6/15 | 766,885 | 0.50% | 0 | 0.00% | |||||||||||||
Tolero CDR | 2/6/17 | 227,341 | 0.18% | 297,569 | 0.25% | |||||||||||||
Total | $ | 1,402,481 | 1.14% |
COMMON STOCKS—95.3% | SHARES | VALUE | ||||||
AEROSPACE & DEFENSE—3.9% | ||||||||
HEICO Corp. | 18,802 | $ | 3,044,608 | |||||
Hexcel Corp. | 13,942 | 908,182 | ||||||
Mercury Systems, Inc.* | 47,923 | 1,777,464 | ||||||
5,730,254 | ||||||||
APPAREL ACCESSORIES & LUXURY GOODS—1.2% | ||||||||
Capri Holdings Ltd.* | 33,946 | 1,785,899 | ||||||
APPAREL RETAIL—0.8% | ||||||||
Victoria’s Secret & Co.* | 69,753 | 1,163,480 | ||||||
APPLICATION SOFTWARE—23.2% | ||||||||
ACI Worldwide, Inc.* | 30,112 | 679,327 | ||||||
Alteryx, Inc., Cl. A* | 12,390 | 466,979 | ||||||
AppFolio, Inc., Cl. A* | 11,607 | 2,119,786 | ||||||
Bill.com Holdings, Inc.* | 10,950 | 1,188,841 | ||||||
Blackbaud, Inc.* | 27,285 | 1,918,681 | ||||||
Blackline, Inc.* | 31,030 | 1,721,234 | ||||||
Everbridge, Inc.* | 49,203 | 1,103,131 | ||||||
Guidewire Software, Inc.* | 23,126 | 2,081,340 | ||||||
HubSpot, Inc.* | 7,232 | 3,561,760 | ||||||
Manhattan Associates, Inc.* | 31,441 | 6,214,628 | ||||||
Q2 Holdings, Inc.* | 57,411 | 1,852,653 | ||||||
Smartsheet, Inc., Cl. A* | 25,678 | 1,038,932 | ||||||
Sprout Social, Inc., Cl. A* | 32,486 | 1,620,402 | ||||||
SPS Commerce, Inc.* | 35,819 | 6,111,080 | ||||||
Vertex, Inc., Cl. A* | 92,716 | 2,141,740 | ||||||
33,820,514 | ||||||||
ASSET MANAGEMENT & CUSTODY BANKS—0.7% | ||||||||
Affiliated Managers Group, Inc. | 8,034 | 1,047,152 | ||||||
AUTOMOTIVE PARTS & EQUIPMENT—0.0% | ||||||||
Atmus Filtration Technologies, Inc.* | 2,155 | 44,932 | ||||||
BIOTECHNOLOGY—9.2% | ||||||||
ACELYRIN, Inc.* | 13,017 | 132,383 | ||||||
ADMA Biologics, Inc.* | 228,093 | 816,573 | ||||||
Akero Therapeutics, Inc.* | 15,832 | 800,782 | ||||||
Arcus Biosciences, Inc.* | 17,511 | 314,322 | ||||||
Bridgebio Pharma, Inc.* | 25,267 | 666,291 | ||||||
Cabaletta Bio, Inc.* | 123,044 | 1,872,730 | ||||||
ImmunoGen, Inc.* | 45,683 | 724,989 | ||||||
Immunovant, Inc.* | 47,894 | 1,838,651 | ||||||
Karuna Therapeutics, Inc.* | 6,896 | 1,166,045 | ||||||
Krystal Biotech, Inc.* | 5,979 | 693,564 | ||||||
MoonLake Immunotherapeutics, Cl. A* | 29,674 | 1,691,418 | ||||||
Morphic Holding, Inc.* | 15,920 | 364,727 | ||||||
Natera, Inc.* | 425 | 18,806 | ||||||
Nuvalent, Inc., Cl. A* | 17,705 | 813,899 | ||||||
RAPT Therapeutics, Inc.* | 19,027 | 316,229 | ||||||
Vaxcyte, Inc.* | 24,085 | 1,227,853 | ||||||
13,459,262 |
COMMON STOCKS—95.3% (CONT.) | SHARES | VALUE | ||||||
BROADLINE RETAIL—0.0% | ||||||||
Ollie’s Bargain Outlet Holdings, Inc.* | 478 | $ | 36,892 | |||||
BUILDING PRODUCTS—0.3% | ||||||||
The AZEK Co., Inc., Cl. A* | 15,562 | 462,814 | ||||||
CONSTRUCTION MATERIALS—0.5% | ||||||||
Summit Materials, Inc., Cl. A* | 20,959 | 652,663 | ||||||
CONSUMER STAPLES MERCHANDISE RETAIL—1.6% | ||||||||
BJ’s Wholesale Club Holdings, Inc.* | 33,249 | 2,372,981 | ||||||
ELECTRONIC EQUIPMENT & INSTRUMENTS—1.0% | ||||||||
908 Devices, Inc.* | 207,424 | 1,381,444 | ||||||
Novanta, Inc.* | 224 | 32,130 | ||||||
1,413,574 | ||||||||
ENVIRONMENTAL & FACILITIES SERVICES—0.0% | ||||||||
Casella Waste Systems, Inc., Cl. A* | 348 | 26,552 | ||||||
FOOTWEAR—0.6% | ||||||||
On Holding AG, Cl. A* | 31,735 | 882,868 | ||||||
HEALTHCARE DISTRIBUTORS—0.4% | ||||||||
PetIQ, Inc., Cl. A* | 27,367 | 539,130 | ||||||
HEALTHCARE EQUIPMENT—5.1% | ||||||||
Glaukos Corp.* | 912 | 68,628 | ||||||
Impulse Dynamics PLC, Class E*,@,(a) | 483,655 | 1,378,417 | ||||||
Inmode Ltd.* | 52,831 | 1,609,232 | ||||||
Insulet Corp.* | 11,242 | 1,792,987 | ||||||
QuidelOrtho Corp.* | 21,037 | 1,536,542 | ||||||
Shockwave Medical, Inc.* | 2,710 | 539,561 | ||||||
Tandem Diabetes Care, Inc.* | 20,983 | 435,817 | ||||||
7,361,184 | ||||||||
HEALTHCARE SERVICES—0.6% | ||||||||
Guardant Health, Inc.* | 12,480 | 369,907 | ||||||
Privia Health Group, Inc.* | 21,060 | 484,380 | ||||||
854,287 | ||||||||
HEALTHCARE SUPPLIES—1.9% | ||||||||
Neogen Corp.* | 145,631 | 2,699,999 | ||||||
HEALTHCARE TECHNOLOGY—2.2% | ||||||||
Doximity, Inc., Cl. A* | 8,144 | 172,816 | ||||||
Veeva Systems, Inc., Cl. A* | 15,144 | 3,081,047 | ||||||
3,253,863 | ||||||||
HOMEBUILDING—0.9% | ||||||||
Skyline Champion Corp.* | 21,375 | 1,362,015 | ||||||
HOMEFURNISHING RETAIL—0.6% | ||||||||
RH* | 3,389 | 895,916 | ||||||
HUMAN RESOURCE & EMPLOYMENT SERVICES—1.5% | ||||||||
Paycom Software, Inc. | 8,495 | 2,202,499 |
COMMON STOCKS—95.3% (CONT.) | SHARES | VALUE | ||||||
INDUSTRIAL MACHINERY & SUPPLIES & COMPONENTS—2.7% | ||||||||
Gates Industrial Corp., PLC* | 88,414 | $ | 1,026,486 | |||||
RBC Bearings, Inc.* | 6,936 | 1,623,926 | ||||||
The Middleby Corp.* | 10,420 | 1,333,760 | ||||||
3,984,172 | ||||||||
INTERACTIVE HOME ENTERTAINMENT—1.5% | ||||||||
Take-Two Interactive Software, Inc.* | 15,090 | 2,118,485 | ||||||
INTERACTIVE MEDIA & SERVICES—0.6% | ||||||||
Bumble, Inc., Cl. A* | 61,980 | 924,742 | ||||||
LEISURE FACILITIES—0.7% | ||||||||
Planet Fitness, Inc., Cl. A* | 20,418 | 1,004,157 | ||||||
LIFE SCIENCES TOOLS & SERVICES—6.3% | ||||||||
Bio-Techne Corp. | 54,970 | 3,741,808 | ||||||
CryoPort, Inc.* | 64,866 | 889,313 | ||||||
ICON PLC* | 8,720 | 2,147,300 | ||||||
MaxCyte, Inc.* | 85,709 | 267,412 | ||||||
Mesa Laboratories, Inc. | 5,905 | 620,438 | ||||||
Repligen Corp.* | 9,906 | 1,575,153 | ||||||
9,241,424 | ||||||||
MANAGED HEALTHCARE—2.5% | ||||||||
HealthEquity, Inc.* | 49,470 | 3,613,784 | ||||||
MOVIES & ENTERTAINMENT—1.8% | ||||||||
Live Nation Entertainment, Inc.* | 31,139 | 2,585,783 | ||||||
OIL & GAS EQUIPMENT & SERVICES—1.0% | ||||||||
ChampionX Corp. | 42,335 | 1,507,973 | ||||||
OIL & GAS EXPLORATION & PRODUCTION—5.3% | ||||||||
Magnolia Oil & Gas Corp., Cl. A | 333,906 | 7,649,786 | ||||||
PERSONAL CARE PRODUCTS—1.0% | ||||||||
e.l.f Beauty, Inc.* | 7,287 | 800,331 | ||||||
Oddity Tech Ltd., Cl. A* | 22,105 | 626,677 | ||||||
1,427,008 | ||||||||
PHARMACEUTICALS—2.2% | ||||||||
CymaBay Therapeutics, Inc.* | 76,024 | 1,133,518 | ||||||
Pliant Therapeutics, Inc.* | 23,511 | 407,680 | ||||||
Structure Therapeutics, Inc.*,# | 24,995 | 1,260,248 | ||||||
Ventyx Biosciences, Inc.* | 11,126 | 386,406 | ||||||
3,187,852 | ||||||||
REGIONAL BANKS—0.5% | ||||||||
Webster Financial Corp. | 19,508 | 786,367 | ||||||
RESTAURANTS—5.3% | ||||||||
Cava Group, Inc.* | 9,444 | 289,270 | ||||||
Kura Sushi USA, Inc., Cl. A* | 25,064 | 1,657,232 | ||||||
Shake Shack, Inc., Cl. A* | 30,534 | 1,773,109 | ||||||
Wingstop, Inc. | 22,481 | 4,042,983 | ||||||
7,762,594 |
COMMON STOCKS—95.3% (CONT.) | SHARES | VALUE | ||||||
SEMICONDUCTOR MATERIALS & EQUIPMENT—0.4% | ||||||||
SolarEdge Technologies, Inc.* | 4,397 | $ | 569,455 | |||||
SEMICONDUCTORS—1.9% | ||||||||
Impinj, Inc.* | 316 | 17,389 | ||||||
Rambus, Inc.* | 14,073 | 785,133 | ||||||
Universal Display Corp. | 12,336 | 1,936,629 | ||||||
2,739,151 | ||||||||
SOFT DRINKS & NON-ALCOHOLIC BEVERAGES—1.3% | ||||||||
Celsius Holdings, Inc.* | 10,903 | 1,870,955 | ||||||
SPECIALTY CHEMICALS—1.8% | ||||||||
Balchem Corp. | 21,280 | 2,639,571 | ||||||
SYSTEMS SOFTWARE—0.4% | ||||||||
Rapid7, Inc.* | 12,630 | 578,201 | ||||||
TRADING COMPANIES & DISTRIBUTORS—0.4% | ||||||||
SiteOne Landscape Supply, Inc.* | 129 | 21,085 | ||||||
Xometry, Inc., Cl. A* | 27,949 | 474,574 | ||||||
495,659 | ||||||||
TRANSACTION & PAYMENT PROCESSING SERVICES—1.5% | ||||||||
DLocal Ltd., Cl. A* | 74,427 | 1,426,766 | ||||||
Marqeta, Inc., Cl. A* | 126,785 | 758,174 | ||||||
2,184,940 | ||||||||
TOTAL COMMON STOCKS | ||||||||
(Cost $107,251,184) | 138,940,789 | |||||||
PREFERRED STOCKS—0.0% | SHARES | VALUE | ||||||
BIOTECHNOLOGY—0.0% | ||||||||
Prosetta Biosciences, Inc., Series D*,@,(a),(b) | 85,998 | – | ||||||
(Cost $386,991) | – | |||||||
RIGHTS—0.1% | SHARES | VALUE | ||||||
BIOTECHNOLOGY—0.1% | ||||||||
Tolero CDR*,@,(a),(c) | 287,830 | 201,481 | ||||||
(Cost $155,594) | 201,481 | |||||||
SPECIAL PURPOSE VEHICLE—1.1% | VALUE | |||||||
DATA PROCESSING & OUTSOURCED SERVICES—1.1% | ||||||||
Crosslink Ventures Capital C, LLC, Cl. A*,@,(a),(b) | 1,289,064 | |||||||
Crosslink Ventures Capital C, LLC, Cl. B*,@,(a),(b) | 276,228 | |||||||
1,565,292 | ||||||||
TOTAL SPECIAL PURPOSE VEHICLE | ||||||||
(Cost $1,700,000) | 1,565,292 | |||||||
Total Investments | ||||||||
(Cost $109,493,769) | 96.5 | % | $ | 140,707,562 | ||||
Affiliated Securities (Cost $2,086,991) | 1,565,292 | |||||||
Unaffiliated Securities (Cost $107,406,778) | 139,142,270 | |||||||
Other Assets in Excess of Liabilities | 3.5 | % | 5,072,495 | |||||
NET ASSETS | 100.0 | % | $ | 145,780,057 |
(a) | Security is valued in good faith at fair value determined using significant unobservable inputs pursuant to procedures established by the Valuation Designee (as defined in Note 2). |
(b) | Deemed an affiliate of the Portfolio in accordance with Section 2(a)(3) of the Investment Company Act of 1940. See Note 4 - Affiliated Securities. |
(c) | Contingent Deferred Rights. |
* | Non-income producing security. |
# | American Depositary Receipts. |
@ | 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 9/30/2023 | |||||||||||||
Crosslink Ventures Capital C, LLC, Cl. A | 10/2/20 | $ | 1,400,000 | 0.49% | $ | 1,289,064 | 0.88% | |||||||||||
Crosslink Ventures Capital C, LLC, Cl. B | 12/16/20 | 300,000 | 0.10% | 276,228 | 0.19% | |||||||||||||
Impulse Dynamics PLC, Class E | 2/11/22 | 1,596,062 | 0.71% | 1,378,417 | 0.95% | |||||||||||||
Prosetta Biosciences, Inc., Series D | 2/6/15 | 386,991 | 0.10% | 0 | 0.00% | |||||||||||||
Tolero CDR | 2/6/17 | 155,594 | 0.08% | 201,481 | 0.14% | |||||||||||||
Total | $ | 3,145,190 | 2.16% |
COMMON STOCKS—66.9% | SHARES | VALUE | ||||||
AEROSPACE & DEFENSE—1.1% | ||||||||
General Dynamics Corp. | 607 | $ | 134,129 | |||||
RTX Corp. | 2,506 | 180,357 | ||||||
TransDigm Group, Inc.* | 286 | 241,135 | ||||||
555,621 | ||||||||
APPLICATION SOFTWARE—0.8% | ||||||||
Adobe, Inc.* | 803 | 409,450 | ||||||
ASSET MANAGEMENT & CUSTODY BANKS—2.1% | ||||||||
BlackRock, Inc., Cl. A | 831 | 537,233 | ||||||
Blackstone, Inc. | 4,076 | 436,702 | ||||||
The Carlyle Group, Inc. | 4,029 | 121,515 | ||||||
1,095,450 | ||||||||
BIOTECHNOLOGY—2.2% | ||||||||
AbbVie, Inc. | 5,506 | 820,724 | ||||||
Amgen, Inc. | 731 | 196,464 | ||||||
Gilead Sciences, Inc. | 2,169 | 162,545 | ||||||
1,179,733 | ||||||||
BROADLINE RETAIL—1.6% | ||||||||
Amazon.com, Inc.* | 6,703 | 852,085 | ||||||
BUILDING PRODUCTS—0.3% | ||||||||
Johnson Controls International PLC | 3,333 | 177,349 | ||||||
CABLE & SATELLITE—0.9% | ||||||||
Comcast Corp., Cl. A | 10,272 | 455,460 | ||||||
COMMODITY CHEMICALS—0.2% | ||||||||
Dow, Inc. | 2,203 | 113,587 | ||||||
COMMUNICATIONS EQUIPMENT—0.8% | ||||||||
Cisco Systems, Inc. | 8,108 | 435,886 | ||||||
CONSUMER ELECTRONICS—0.3% | ||||||||
Garmin Ltd. | 1,685 | 177,262 | ||||||
CONSUMER STAPLES MERCHANDISE RETAIL—0.6% | ||||||||
Walmart, Inc. | 2,062 | 329,776 | ||||||
COPPER—0.4% | ||||||||
Southern Copper Corp. | 3,046 | 229,333 | ||||||
DIVERSIFIED BANKS—2.8% | ||||||||
Bank of America Corp. | 14,212 | 389,125 | ||||||
JPMorgan Chase & Co. | 7,560 | 1,096,351 | ||||||
1,485,476 | ||||||||
ELECTRIC UTILITIES—0.4% | ||||||||
NextEra Energy, Inc. | 3,710 | 212,546 | ||||||
ELECTRICAL COMPONENTS & EQUIPMENT—1.2% | ||||||||
Eaton Corp. PLC | 3,047 | 649,864 | ||||||
FINANCIAL EXCHANGES & DATA—0.7% | ||||||||
CME Group, Inc., Cl. A | 1,948 | 390,028 | ||||||
FOOD DISTRIBUTORS—0.4% | ||||||||
Sysco Corp. | 2,852 | 188,375 |
COMMON STOCKS—66.9% (CONT.) | SHARES | VALUE | ||||||
GOLD—0.2% | ||||||||
Newmont Corp. | 2,982 | $ | 110,185 | |||||
HEALTHCARE DISTRIBUTORS—0.2% | ||||||||
Cardinal Health, Inc. | 1,132 | 98,280 | ||||||
HEALTHCARE EQUIPMENT—0.4% | ||||||||
Medtronic PLC | 2,865 | 224,501 | ||||||
HOME IMPROVEMENT RETAIL—1.8% | ||||||||
The Home Depot, Inc. | 3,055 | 923,099 | ||||||
HOUSEHOLD PRODUCTS—1.1% | ||||||||
The Procter & Gamble Co. | 3,979 | 580,377 | ||||||
INDUSTRIAL CONGLOMERATES—1.2% | ||||||||
Honeywell International, Inc. | 3,528 | 651,763 | ||||||
INDUSTRIAL GASES—0.8% | ||||||||
Air Products & Chemicals, Inc. | 1,507 | 427,084 | ||||||
INTEGRATED OIL & GAS—3.1% | ||||||||
Chevron Corp. | 4,198 | 707,867 | ||||||
Exxon Mobil Corp. | 5,233 | 615,296 | ||||||
TotalEnergies SE# | 4,927 | 323,999 | ||||||
1,647,162 | ||||||||
INTEGRATED TELECOMMUNICATION SERVICES—0.6% | ||||||||
Verizon Communications, Inc. | 10,096 | 327,211 | ||||||
INTERACTIVE MEDIA & SERVICES—5.3% | ||||||||
Alphabet, Inc., Cl. A* | 9,753 | 1,276,278 | ||||||
Alphabet, Inc., Cl. C* | 7,838 | 1,033,440 | ||||||
Meta Platforms, Inc., Cl. A* | 1,578 | 473,731 | ||||||
2,783,449 | ||||||||
INVESTMENT BANKING & BROKERAGE—1.5% | ||||||||
Morgan Stanley | 9,912 | 809,513 | ||||||
LEISURE FACILITIES—0.3% | ||||||||
Vail Resorts, Inc. | 783 | 173,740 | ||||||
MANAGED HEALTHCARE—2.1% | ||||||||
UnitedHealth Group, Inc. | 2,204 | 1,111,235 | ||||||
MULTI-LINE INSURANCE—0.4% | ||||||||
The Hartford Financial Services Group, Inc. | 2,582 | 183,090 | ||||||
MULTI-UTILITIES—0.7% | ||||||||
Consolidated Edison, Inc. | 2,316 | 198,088 | ||||||
Sempra | 2,872 | 195,382 | ||||||
393,470 | ||||||||
OIL & GAS EXPLORATION & PRODUCTION—0.4% | ||||||||
Pioneer Natural Resources Co. | 887 | 203,611 | ||||||
OIL & GAS STORAGE & TRANSPORTATION—0.3% | ||||||||
ONEOK, Inc. | 2,628 | 166,694 | ||||||
PERSONAL CARE PRODUCTS—0.2% | ||||||||
Kenvue, Inc. | 4,341 | 87,167 |
COMMON STOCKS—66.9% (CONT.) | SHARES | VALUE | ||||||
PHARMACEUTICALS—4.7% | ||||||||
AstraZeneca PLC# | 5,015 | $ | 339,616 | |||||
Bristol-Myers Squibb Co. | 2,952 | 171,334 | ||||||
Eli Lilly & Co. | 1,039 | 558,078 | ||||||
GSK PLC# | 3,326 | 120,567 | ||||||
Johnson & Johnson | 3,500 | 545,125 | ||||||
Merck & Co., Inc. | 2,724 | 280,436 | ||||||
Novartis AG# | 2,108 | 214,721 | ||||||
Pfizer, Inc. | 6,956 | 230,731 | ||||||
2,460,608 | ||||||||
RAIL TRANSPORTATION—0.5% | ||||||||
Union Pacific Corp. | 1,184 | 241,098 | ||||||
RESTAURANTS—1.1% | ||||||||
McDonald’s Corp. | 1,186 | 312,440 | ||||||
Starbucks Corp. | 2,764 | 252,270 | ||||||
564,710 | ||||||||
SEMICONDUCTOR MATERIALS & EQUIPMENT—2.1% | ||||||||
KLA Corp. | 2,436 | 1,117,296 | ||||||
SEMICONDUCTORS—3.9% | ||||||||
Broadcom, Inc. | 1,503 | 1,248,362 | ||||||
QUALCOMM, Inc. | 4,759 | 528,534 | ||||||
Taiwan Semiconductor Manufacturing Co., Ltd.# | 2,951 | 256,442 | ||||||
2,033,338 | ||||||||
SOFT DRINKS & NON-ALCOHOLIC BEVERAGES—2.0% | ||||||||
PepsiCo, Inc. | 3,594 | 608,967 | ||||||
The Coca-Cola Co. | 7,503 | 420,018 | ||||||
1,028,985 | ||||||||
SYSTEMS SOFTWARE—7.1% | ||||||||
Microsoft Corp. | 10,976 | 3,465,672 | ||||||
Oracle Corp. | 2,382 | 252,301 | ||||||
3,717,973 | ||||||||
TECHNOLOGY HARDWARE STORAGE & PERIPHERALS—6.1% | ||||||||
Apple, Inc. | 18,763 | 3,212,413 | ||||||
TOBACCO—0.8% | ||||||||
Altria Group, Inc. | 5,538 | 232,873 | ||||||
Philip Morris International, Inc. | 2,015 | 186,549 | ||||||
419,422 | ||||||||
TRANSACTION & PAYMENT PROCESSING SERVICES—1.2% | ||||||||
Visa, Inc., Cl. A | 2,698 | 620,567 | ||||||
TOTAL COMMON STOCKS | ||||||||
(Cost $15,868,308) | 35,255,322 | |||||||
MASTER LIMITED PARTNERSHIP—0.5% | SHARES | VALUE | ||||||
OIL & GAS STORAGE & TRANSPORTATION—0.5% | ||||||||
Cheniere Energy Partners LP | 4,434 | 240,278 | ||||||
(Cost $147,024) | 240,278 |
REAL ESTATE INVESTMENT TRUST—2.4% | SHARES | VALUE | ||||||
HEALTHCARE—0.4% | ||||||||
Welltower, Inc. | 2,974 | $ | 243,630 | |||||
INDUSTRIAL—0.3% | ||||||||
Prologis, Inc. | 1,262 | 141,609 | ||||||
MORTGAGE—0.3% | ||||||||
Blackstone Mortgage Trust, Inc., Cl. A | 8,260 | 179,655 | ||||||
RETAIL—0.5% | ||||||||
Simon Property Group, Inc. | 2,371 | 256,139 | ||||||
SPECIALIZED—0.9% | ||||||||
Crown Castle, Inc. | 3,235 | 297,717 | ||||||
Lamar Advertising Co., Cl. A | 2,052 | 171,281 | ||||||
468,998 | ||||||||
TOTAL REAL ESTATE INVESTMENT TRUST | ||||||||
(Cost $1,270,327) | 1,290,031 | |||||||
CORPORATE BONDS—27.5% | PRINCIPAL AMOUNT | VALUE | ||||||
AGRICULTURAL & FARM MACHINERY—1.8% | ||||||||
John Deere Capital Corp., 2.125%, 3/7/25 | 1,000,000 | 953,100 | ||||||
APPLICATION SOFTWARE—1.8% | ||||||||
Salesforce, Inc., 0.625%, 7/15/24 | 1,000,000 | 961,334 | ||||||
AUTOMOBILE MANUFACTURERS—0.8% | ||||||||
General Motors Financial Co., Inc., 1.5%, 6/10/26 | 500,000 | 442,120 | ||||||
BIOTECHNOLOGY—1.8% | ||||||||
AbbVie, Inc., 3.6%, 5/14/25 | 1,000,000 | 967,020 | ||||||
BROADLINE RETAIL—0.9% | ||||||||
Amazon.com, Inc., 4.55%, 12/1/27 | 500,000 | 490,026 | ||||||
CONSUMER FINANCE—1.0% | ||||||||
American Express Co., 5.85%, 11/5/27 | 500,000 | 503,870 | ||||||
CONSUMER STAPLES MERCHANDISE RETAIL—0.9% | ||||||||
Walmart, Inc., 3.9%, 9/9/25 | 500,000 | 487,629 | ||||||
DIVERSIFIED BANKS—1.9% | ||||||||
Wells Fargo & Co., 3.3%, 9/9/24 | 1,000,000 | 975,110 | ||||||
HEALTHCARE SERVICES—0.9% | ||||||||
Haleon UK Capital PLC, 3.125%, 3/24/25(a) | 500,000 | 480,444 | ||||||
HOME IMPROVEMENT RETAIL—0.9% | ||||||||
The Home Depot, Inc., 2.7%, 4/15/25 | 500,000 | 480,357 | ||||||
LIFE SCIENCES TOOLS & SERVICES—1.0% | ||||||||
Thermo Fisher Scientific, Inc., 0.797%, 10/18/23 | 500,000 | 498,927 | ||||||
MANAGED HEALTHCARE—1.8% | ||||||||
UnitedHealth Group, Inc., 3.7%, 5/15/27 | 1,000,000 | 948,447 | ||||||
MULTI-UTILITIES—1.0% | ||||||||
Sempra, 5.4%, 8/1/26 | 500,000 | 495,053 | ||||||
PACKAGED FOODS & MEATS—1.0% | ||||||||
Nestle Holdings, Inc., 0.606%, 9/14/24(a) | 550,000 | 524,704 |
CORPORATE BONDS—27.5% (CONT.) | PRINCIPAL AMOUNT | VALUE | ||||||
RESTAURANTS—1.0% | ||||||||
McDonald’s Corp., 4.8%, 8/14/28 | 500,000 | $ | 489,430 | |||||
Starbucks Corp. , 5.762%, 2/14/24+ | ||||||||
(1-Day SOFR + 0.42%) | 500,000 | 499,977 | ||||||
987,407 | ||||||||
SEMICONDUCTOR MATERIALS & EQUIPMENT—0.9% | ||||||||
KLA Corp., 4.65%, 11/1/24 | 500,000 | 493,391 | ||||||
SOFT DRINKS & NON-ALCOHOLIC BEVERAGES—0.9% | ||||||||
PepsiCo, Inc., 4.45%, 5/15/28 | 500,000 | 491,065 | ||||||
SPECIALIZED—2.2% | ||||||||
Crown Castle, Inc., 3.2%, 9/1/24 | 1,200,000 | 1,169,760 | ||||||
SPECIALTY CHEMICALS—1.0% | ||||||||
Ecolab, Inc., 5.25%, 1/15/28 | 500,000 | 499,533 | ||||||
SYSTEMS SOFTWARE—1.0% | ||||||||
Oracle Corp., 5.8%, 11/10/25 | 500,000 | 502,026 | ||||||
TECHNOLOGY HARDWARE STORAGE & PERIPHERALS—2.1% | ||||||||
Apple, Inc., 1.125%, 5/11/25 | 1,200,000 | 1,122,795 | ||||||
TOTAL CORPORATE BONDS | ||||||||
(Cost $15,007,867) | 14,476,118 | |||||||
SHORT—TERM INVESTMENTS—1.9% | SHARES | VALUE | ||||||
U.S. GOVERNMENT—1.9% | ||||||||
U.S. Treasury Bill, 0.00%, 11/16/23 | 1,000,000 | 993,172 | ||||||
(Cost $993,172) | 993,172 | |||||||
Total Investments | ||||||||
(Cost $33,286,698) | 99.2 | % | $ | 52,254,921 | ||||
Unaffiliated Securities (Cost $33,286,698) | 52,254,921 | |||||||
Other Assets in Excess of Liabilities | 0.8 | % | 419,863 | |||||
NET ASSETS | 100.0 | % | $ | 52,674,784 |
* | Non-income producing security. |
# | American Depositary Receipts. |
(a) | Pursuant to Securities and Exchange Commission Rule 144A, these securities may be sold prior to their maturity only to qualified institutional buyers. These securities represent 1.9% of the net assets of the Portfolio. |
+ | Variable rate securities based on a reference index and spread. The rate reported is the rate in effect as of September 30, 2023. |
• | Level 1 – quoted prices in active markets for identical investments |
• | Level 2 – significant other observable inputs (including quoted prices for similar investments, amortized cost, interest rates, prepayment speeds, credit risk, etc.) |
• | Level 3 – significant unobservable inputs (including the Portfolios’ own assumptions in determining the fair value of investments) |
Alger Capital Appreciation Portfolio | TOTAL | LEVEL 1 | LEVEL 2 | LEVEL 3 | ||||||||||||
COMMON STOCKS | ||||||||||||||||
Communication Services | $ | 54,335,625 | $ | 54,335,625 | $ | — | $ | — | ||||||||
Consumer Discretionary | 55,094,598 | 52,674,607 | 2,419,991 | — | ||||||||||||
Energy | 13,523,161 | 13,523,161 | — | — | ||||||||||||
Financials | 22,635,852 | 22,635,852 | — | — | ||||||||||||
Healthcare | 52,554,301 | 52,554,301 | — | — | ||||||||||||
Industrials | 25,947,984 | 25,947,984 | — | — | ||||||||||||
Information Technology | 146,134,933 | 146,134,933 | — | — | ||||||||||||
Materials | 9,610,361 | 9,610,361 | — | — | ||||||||||||
TOTAL COMMON STOCKS | $ | 379,836,815 | $ | 377,416,824 | $ | 2,419,991 | $ | — | ||||||||
PREFERRED STOCKS | ||||||||||||||||
Information Technology | 252,242 | — | — | 252,242 | ||||||||||||
SPECIAL PURPOSE VEHICLE | ||||||||||||||||
Information Technology | 437,361 | — | — | 437,361 | ||||||||||||
TOTAL INVESTMENTS IN SECURITIES | $ | 380,526,418 | $ | 377,416,824 | $ | 2,419,991 | $ | 689,603 |
Alger Large Cap Growth Portfolio | TOTAL | LEVEL 1 | LEVEL 2 | LEVEL 3 | ||||||||||||
COMMON STOCKS | ||||||||||||||||
Communication Services | 21,544,234 | 21,544,234 | — | — | ||||||||||||
Consumer Discretionary | 48,300,895 | 48,300,895 | — | — | ||||||||||||
Energy | 11,390,637 | 11,390,637 | — | — | ||||||||||||
Financials | 11,732,589 | 11,732,589 | — | — | ||||||||||||
Healthcare | 39,716,372 | 36,192,659 | 3,523,713 | — | ||||||||||||
Industrials | 28,288,508 | 28,288,508 | — | — | ||||||||||||
Information Technology | 81,135,146 | 81,135,146 | — | — | ||||||||||||
Materials | 2,491,614 | 2,491,614 | — | — | ||||||||||||
Real Estate | 5,749,539 | 5,749,539 | — | — | ||||||||||||
TOTAL COMMON STOCKS | $ | 250,349,534 | $ | 246,825,821 | $ | 3,523,713 | $ | — | ||||||||
EXCHANGE TRADED FUNDS | ||||||||||||||||
Exchange Traded Funds | 5,157,476 | 5,157,476 | — | — | ||||||||||||
MUTUAL FUNDS | ||||||||||||||||
Mutual Funds | 5,521,982 | 5,521,982 | — | — | ||||||||||||
SPECIAL PURPOSE VEHICLE | ||||||||||||||||
Information Technology | 1,749,444 | — | — | 1,749,444 | ||||||||||||
TOTAL INVESTMENTS IN SECURITIES | $ | 262,778,436 | $ | 257,505,279 | $ | 3,523,713 | $ | 1,749,444 |
Alger Growth & Income Portfolio | TOTAL | LEVEL 1 | LEVEL 2 | LEVEL 3 | ||||||||||||
COMMON STOCKS | ||||||||||||||||
Communication Services | 3,354,611 | 3,354,611 | — | — | ||||||||||||
Consumer Discretionary | 2,530,154 | 2,530,154 | — | — | ||||||||||||
Consumer Staples | 2,462,220 | 2,462,220 | — | — | ||||||||||||
Energy | 1,888,013 | 1,888,013 | — | — | ||||||||||||
Financials | 4,292,870 | 4,292,870 | — | — | ||||||||||||
Healthcare | 4,836,420 | 4,836,420 | — | — | ||||||||||||
Industrials | 2,154,898 | 2,154,898 | — | — | ||||||||||||
Information Technology | 10,111,104 | 10,111,104 | — | — | ||||||||||||
Materials | 816,532 | 816,532 | — | — | ||||||||||||
Utilities | 591,044 | 591,044 | — | — | ||||||||||||
TOTAL COMMON STOCKS | $ | 33,037,866 | $ | 33,037,866 | $ | — | $ | — | ||||||||
MASTER LIMITED PARTNERSHIP | ||||||||||||||||
Energy | 219,741 | 219,741 | — | — | ||||||||||||
REAL ESTATE INVESTMENT TRUST | ||||||||||||||||
Financials | 169,541 | 169,541 | — | — | ||||||||||||
Real Estate | 1,046,871 | 1,046,871 | — | — | ||||||||||||
TOTAL REAL ESTATE INVESTMENT TRUST | $ | 1,216,412 | $ | 1,216,412 | $ | — | $ | — | ||||||||
TOTAL INVESTMENTS IN SECURITIES | $ | 34,474,019 | $ | 34,474,019 | $ | — | $ | — |
Alger Mid Cap Growth Portfolio | TOTAL | LEVEL 1 | LEVEL 2 | LEVEL 3 | ||||||||||||
COMMON STOCKS | ||||||||||||||||
Communication Services | 6,121,074 | 6,121,074 | — | — | ||||||||||||
Consumer Discretionary | 13,520,425 | 13,520,425 | — | — | ||||||||||||
Consumer Staples | 1,675,839 | 1,675,839 | — | — | ||||||||||||
Energy | 3,919,084 | 3,919,084 | — | — | ||||||||||||
Financials | 9,564,726 | 9,564,726 | — | — | ||||||||||||
Healthcare | 21,259,208 | 21,259,208 | — | — | ||||||||||||
Industrials | 21,624,995 | 21,624,995 | — | — | ||||||||||||
Information Technology | 30,430,407 | 30,430,407 | — | — | ||||||||||||
Materials | 2,382,015 | 2,382,015 | — | — | ||||||||||||
Real Estate | 6,069,287 | 6,069,287 | — | — | ||||||||||||
TOTAL COMMON STOCKS | $ | 116,567,060 | $ | 116,567,060 | $ | — | $ | — | ||||||||
EXCHANGE TRADED FUNDS | ||||||||||||||||
Exchange Traded Funds | 3,873,218 | 3,873,218 | — | — | ||||||||||||
PREFERRED STOCKS | ||||||||||||||||
Healthcare | — | * | — | — | — | * | ||||||||||
WARRANTS | ||||||||||||||||
Information Technology | — | ** | — | — | ** | — | ||||||||||
RIGHTS | ||||||||||||||||
Healthcare | 297,569 | — | — | 297,569 | ||||||||||||
SPECIAL PURPOSE VEHICLE | ||||||||||||||||
Information Technology | 1,104,912 | — | — | 1,104,912 | ||||||||||||
TOTAL INVESTMENTS IN SECURITIES | $ | 121,842,759 | $ | 120,440,278 | $ | — | $ | 1,402,481 |
Alger Small Cap Growth Portfolio | TOTAL | LEVEL 1 | LEVEL 2 | LEVEL 3 | ||||||||||||
COMMON STOCKS | ||||||||||||||||
Communication Services | 5,629,010 | 5,629,010 | — | — | ||||||||||||
Consumer Discretionary | 14,938,753 | 14,938,753 | — | — | ||||||||||||
Consumer Staples | 5,670,944 | 5,670,944 | — | — | ||||||||||||
Energy | 9,157,759 | 9,157,759 | — | — | ||||||||||||
Financials | 4,018,459 | 4,018,459 | — | — | ||||||||||||
Healthcare | 44,210,785 | 42,832,368 | — | 1,378,417 | ||||||||||||
Industrials | 12,901,950 | 12,901,950 | — | — | ||||||||||||
Information Technology | 39,120,895 | 39,120,895 | — | �� | — | |||||||||||
Materials | 3,292,234 | 3,292,234 | — | — | ||||||||||||
TOTAL COMMON STOCKS | $ | 138,940,789 | $ | 137,562,372 | $ | — | $ | 1,378,417 | ||||||||
PREFERRED STOCKS | ||||||||||||||||
Healthcare | — | * | — | — | — | * | ||||||||||
RIGHTS | ||||||||||||||||
Healthcare | 201,481 | — | — | 201,481 | ||||||||||||
SPECIAL PURPOSE VEHICLE | ||||||||||||||||
Information Technology | 1,565,292 | — | — | 1,565,292 | ||||||||||||
TOTAL INVESTMENTS IN SECURITIES | $ | 140,707,562 | $ | 137,562,372 | $ | — | $ | 3,145,190 |
Alger Balanced Portfolio | TOTAL | LEVEL 1 | LEVEL 2 | LEVEL 3 | ||||||||||||
COMMON STOCKS | ||||||||||||||||
Communication Services | 3,566,120 | 3,566,120 | — | — | ||||||||||||
Consumer Discretionary | 2,690,896 | 2,690,896 | — | — | ||||||||||||
Consumer Staples | 2,634,102 | 2,634,102 | — | — | ||||||||||||
Energy | 2,017,467 | 2,017,467 | — | — | ||||||||||||
Financials | 4,584,124 | 4,584,124 | — | — | ||||||||||||
Healthcare | 5,074,357 | 5,074,357 | — | — | ||||||||||||
Industrials | 2,275,695 | 2,275,695 | — | — | ||||||||||||
Information Technology | 10,926,356 | 10,926,356 | — | — | ||||||||||||
Materials | 880,189 | 880,189 | — | — | ||||||||||||
Utilities | 606,016 | 606,016 | — | — | ||||||||||||
TOTAL COMMON STOCKS | $ | 35,255,322 | $ | 35,255,322 | $ | — | $ | — | ||||||||
MASTER LIMITED PARTNERSHIP | ||||||||||||||||
Energy | 240,278 | 240,278 | — | — | ||||||||||||
REAL ESTATE INVESTMENT TRUST | ||||||||||||||||
Financials | 179,655 | 179,655 | — | — | ||||||||||||
Real Estate | 1,110,376 | 1,110,376 | — | — | ||||||||||||
TOTAL REAL ESTATE INVESTMENT TRUST | $ | 1,290,031 | $ | 1,290,031 | $ | — | $ | — | ||||||||
CORPORATE BONDS | ||||||||||||||||
Consumer Discretionary | 1,912,480 | — | 1,912,480 | — | ||||||||||||
Consumer Staples | 1,503,398 | — | 1,503,398 | — | ||||||||||||
Financials | 1,478,980 | — | 1,478,980 | — | ||||||||||||
Healthcare | 2,894,838 | — | 2,894,838 | — | ||||||||||||
Industrials | 953,100 | — | 953,100 | — | ||||||||||||
Information Technology | 3,079,546 | — | 3,079,546 | — | ||||||||||||
Materials | 499,533 | — | 499,533 | — | ||||||||||||
Real Estate | 1,169,760 | — | 1,169,760 | — | ||||||||||||
U.S. Government & Agency | 489,430 | — | 489,430 | — | ||||||||||||
Utilities | 495,053 | — | 495,053 | — | ||||||||||||
TOTAL CORPORATE BONDS | $ | 14,476,118 | $ | — | $ | 14,476,118 | $ | — | ||||||||
SHORT-TERM INVESTMENTS | ||||||||||||||||
U.S. Government | 993,172 | — | 993,172 | — | ||||||||||||
TOTAL INVESTMENTS IN SECURITIES | $ | 52,254,921 | $ | 36,785,631 | $ | 15,469,290 | $ | — |
FAIR VALUE MEASUREMENTS USING SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3) | ||||
Alger Capital Appreciation Portfolio | Preferred Stocks | |||
Opening balance at January 1, 2023 | $ | 255,052 | ||
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 | (2,810 | ) | ||
Purchases and sales | ||||
Purchases | — | |||
Sales | — | |||
Closing balance at September 30, 2023 | 252,242 | |||
Net change in unrealized appreciation (depreciation) attributable to investments still held at September 30, 2023 | $ | (2,810 | ) |
FAIR VALUE MEASUREMENTS USING SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3) | ||||
Alger Capital Appreciation Portfolio | Special Purpose Vehicle | |||
Opening balance at January 1, 2023 | $ | 442,225 | ||
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 | (4,864 | ) | ||
Purchases and sales | ||||
Purchases | — | |||
Sales | — | |||
Closing balance at September 30, 2023 | 437,361 | |||
Net change in unrealized appreciation (depreciation) attributable to investments still held at September 30, 2023 | $ | (4,864 | ) |
FAIR VALUE MEASUREMENTS USING SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3) | ||||
Alger Large Cap Growth Portfolio | Special Purpose Vehicle | |||
Opening balance at January 1, 2023 | $ | 1,768,900 | ||
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 | (19,456 | ) | ||
Purchases and sales | ||||
Purchases | — | |||
Sales | — | |||
Closing balance at September 30, 2023 | 1,749,444 | |||
Net change in unrealized appreciation (depreciation) attributable to investments still held at September 30, 2023 | $ | (19,456 | ) |
FAIR VALUE MEASUREMENTS USING SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3) | ||||
Alger Mid Cap Growth Portfolio | Preferred Stocks | |||
Opening balance at January 1, 2023 | $ | — | * | |
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, 2023 | — | * | ||
Net change in unrealized appreciation (depreciation) attributable to investments still held at September 30, 2023 | $ | — |
FAIR VALUE MEASUREMENTS USING SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3) | ||||
Alger Mid Cap Growth Portfolio | Rights | |||
Opening balance at January 1, 2023 | $ | 272,063 | ||
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 | 25,506 | |||
Purchases and sales | ||||
Purchases | — | |||
Sales | — | |||
Closing balance at September 30, 2023 | 297,569 | |||
Net change in unrealized appreciation (depreciation) attributable to investments still held at September 30, 2023 | $ | 25,506 |
FAIR VALUE MEASUREMENTS USING SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3) | ||||
Alger Mid Cap Growth Portfolio | Special Purpose Vehicle | |||
Opening balance at January 1, 2023 | $ | 1,117,200 | ||
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 | (12,288 | ) | ||
Purchases and sales | ||||
Purchases | — | |||
Sales | — | |||
Closing balance at September 30, 2023 | 1,104,912 | |||
Net change in unrealized appreciation (depreciation) attributable to investments still held at September 30, 2023 | $ | (12,288 | ) |
FAIR VALUE MEASUREMENTS USING SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3) | ||||
Alger Small Cap Growth Portfolio | Common Stocks | |||
Opening balance at January 1, 2023 | $ | 1,596,062 | ||
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 | (217,645 | ) | ||
Purchases and sales | ||||
Purchases | — | |||
Sales | — | |||
Closing balance at September 30, 2023 | 1,378,417 | |||
Net change in unrealized appreciation (depreciation) attributable to investments still held at September 30, 2023 | $ | (217,645 | ) |
FAIR VALUE MEASUREMENTS USING SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3) | ||||
Alger Small Cap Growth Portfolio | Preferred Stocks | |||
Opening balance at January 1, 2023 | $ | — | * | |
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, 2023 | — | * | ||
Net change in unrealized appreciation (depreciation) attributable to investments still held at September 30, 2023 | $ | — |
FAIR VALUE MEASUREMENTS USING SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3) | ||||
Alger Small Cap Growth Portfolio | Rights | |||
Opening balance at January 1, 2023 | $ | 184,211 | ||
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 | 17,270 | |||
Purchases and sales | ||||
Purchases | — | |||
Sales | — | |||
Closing balance at September 30, 2023 | 201,481 | |||
Net change in unrealized appreciation (depreciation) attributable to investments still held at September 30, 2023 | $ | 17,270 |
FAIR VALUE MEASUREMENTS USING SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3) | ||||
Alger Small Cap Growth Portfolio | Special Purpose Vehicle | |||
Opening balance at January 1, 2023 | $ | 1,582,700 | ||
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 | (17,408 | ) | ||
Purchases and sales | ||||
Purchases | — | |||
Sales | — | |||
Closing balance at September 30, 2023 | 1,565,292 | |||
Net change in unrealized appreciation (depreciation) attributable to investments still held at September 30, 2023 | $ | (17,408 | ) |
Fair Value September 30, 2023 | Valuation Methodology | Unobservable Input | Input/Range | Weighted Average Inputs | |||||||
Alger Capital Appreciation Portfolio | |||||||||||
Preferred Stocks | $ | 252,242 | Market Approach | Revenue Multiple | 12.00x–14.00x | N/A | |||||
Special Purpose Vehicle | 437,361 | Market Approach | Revenue Multiple | 12.00x–14.00x | N/A | ||||||
Alger Large Cap Growth Portfolio | |||||||||||
Special Purpose Vehicle | $ | 1,749,444 | Market Approach | Revenue Multiple | 12.00x–14.00x | N/A | |||||
Alger Mid Cap Growth Portfolio | |||||||||||
Preferred Stocks | $ | — | * | Income Approach | Discount Rate | 100.00% | N/A | ||||
Rights | 297,569 | Income Approach | Discount Rate Probability of Success | 7.95%-9.34% 0.00%-60.00% | N/A N/A | ||||||
Special Purpose Vehicle | 1,104,912 | Market Approach | Revenue Multiple | 12.00x–14.00x | N/A N/A | ||||||
Alger Small Cap Growth Portfolio | |||||||||||
Common Stocks | $ | 1,378,417 | Market Approach | Revenue Multiple | 6.31x-8.31x | N/A | |||||
Preferred Stocks | — | * | Income Approach | Discount Rate | 100.00% | N/A | |||||
Rights | 201,481 | Income Approach | Discount Rate Probability of Success | 7.95%-9.34% 0.00%-60.00% | N/A N/A | ||||||
Special Purpose Vehicle | 1,565,292 | Market Approach | Revenue Multiple | 12.00x–14.00x | N/A |
TOTAL | LEVEL 1 | LEVEL 2 | LEVEL 3 | |||||||||||||
Cash, foreign cash and cash equivalents | ||||||||||||||||
Alger Capital Appreciation Portfolio | $ | 7,994,246 | $ | – | $ | 7,994,246 | $ | – | ||||||||
Alger Large Cap Growth Portfolio | 3,502,694 | – | 3,502,694 | – | ||||||||||||
Bank overdraft | (216 | ) | (216 | ) | – | – | ||||||||||
Alger Growth & Income Portfolio | 14,395 | – | 14,395 | – | ||||||||||||
Alger Mid Cap Growth Portfolio | 1,478,689 | 9,124 | 1,469,565 | – | ||||||||||||
Alger Small Cap Growth Portfolio | 4,819,720 | – | 4,819,720 | – | ||||||||||||
Alger Balanced Portfolio | 293,348 | – | 293,348 | – |
Security | Shares Held at December 31, 2022 | Shares Purchased | Shares Sold | Shares Held at September 30, 2023 | Dividend Income | Realized Gain (Loss) | Net Change in Unrealized App(Dep) | Value at September 30, 2023 | ||||||||||||||||||||||||
Alger Capital Appreciation Portfolio | ||||||||||||||||||||||||||||||||
Special Purpose Vehicle | ||||||||||||||||||||||||||||||||
Crosslink Ventures Capital C, LLC, Cl. A*** | $ | — | $ | — | $ | 53,637 | $ | 495,862 | ||||||||||||||||||||||||
Total | $ | — | $ | — | $ | 53,637 | $ | 495,862 |
Security | Shares Held at December 31, 2022 | Shares Purchased | Shares Sold | Shares Held at September 30, 2023 | Dividend Income | Realized Gain (Loss) | Net Change in Unrealized App(Dep) | Value at September 30, 2023 | ||||||||||||||||||||||||
Alger Large Cap Growth Portfolio | ||||||||||||||||||||||||||||||||
Common Stocks | ||||||||||||||||||||||||||||||||
Alger 35 ETF | 364,137 | — | (8,449 | ) | 355,688 | — | (36,106 | ) | 569,840 | 5,157,476 | ||||||||||||||||||||||
Alger 35 Fund, Cl. Z | 559,471 | — | — | 559,471 | — | — | 481,145 | 5,521,982 | ||||||||||||||||||||||||
Special Purpose Vehicle | ||||||||||||||||||||||||||||||||
Crosslink Ventures Capital C, LLC, Cl. A*** | — | — | (19,456 | ) | 1,749,444 | |||||||||||||||||||||||||||
Total | $ | — | $ | (36,106 | ) | $ | 1,031,529 | $ | 12,428,902 |
Security | Shares Held at December 31, 2022 | Shares Purchased | Shares Sold | Shares Held at September 30, 2023 | Dividend Income | Realized Gain (Loss) | Net Change in Unrealized App(Dep) | Value at September 30, 2023 | ||||||||||||||||||||||||
Alger Mid Cap Growth Portfolio | �� | |||||||||||||||||||||||||||||||
Common Stocks | ||||||||||||||||||||||||||||||||
Alger Mid Cap 40 ETF | 335,165 | — | (15,611 | ) | 319,554 | — | (135,575 | ) | 328,735 | 3,873,218 | ||||||||||||||||||||||
Preferred Stocks | ||||||||||||||||||||||||||||||||
Prosetta Biosciences, Inc., Series D** | 170,419 | — | — | 170,419 | — | — | — | — | * | |||||||||||||||||||||||
Special Purpose Vehicle | ||||||||||||||||||||||||||||||||
Crosslink Ventures Capital C, LLC, Cl. A*** | — | — | (8,960 | ) | 805,665 | |||||||||||||||||||||||||||
Crosslink Ventures Capital C, LLC, Cl. B*** | — | — | (3,328 | ) | 299,247 | |||||||||||||||||||||||||||
Total | $ | — | $ | (135,575 | ) | $ | 316,447 | $ | 4,978,130 |
Security | Shares Held at December 31, 2022 | Shares Purchased/ Acquired | Shares Sold | Shares Held at September 30, 2023 | Dividend Income | Realized Gain (Loss) | Net Change in Unrealized App(Dep) | Value at September 30, 2023 | ||||||||||||||||||||||||
Alger Small Cap Growth Portfolio | ||||||||||||||||||||||||||||||||
Preferred Stocks | ||||||||||||||||||||||||||||||||
Prosetta Biosciences, Inc., Series D** | 75,383 | 10,615 | — | 85,998 | — | — | (47,768 | ) | — | * | ||||||||||||||||||||||
Special Purpose Vehicle | ||||||||||||||||||||||||||||||||
Crosslink Ventures Capital C, LLC, Cl. A*** | — | — | (14,336 | ) | 1,289,064 | |||||||||||||||||||||||||||
Crosslink Ventures Capital C, LLC, Cl. B*** | — | — | (3,072 | ) | 276,228 | |||||||||||||||||||||||||||
Total | $ | — | $ | — | | $ | (65,176 | ) | $ | 1,565,292 |