Small Cap Focus
Small/SMid CapSmall/SMid Cap
Alger Small Cap Focus FundAOFYX

as of 7/21/2025
Fund Snapshot

  • Share ClassY
  • CUSIP015565229
  • Net Asset Value$19.32
  • Offering Price-
  • Daily Change (NAV)-0.92%
  • Minimum Investment$500,000
  • Annual Fund Operating Expenses Total - without Waiver
    (as of 2/28/2025)
    0.89%
  • Annual Fund Operating Expenses Total - with Waiver0.86%
    (as of 2/28/2025)

Investment Strategy

Invests in a focused portfolio of approximately 50 holdings of primarily small cap companies identified through our fundamental research as demonstrating promising growth potential. Seeks long-term capital appreciation.



Highlights

Asset Class:
U.S. Small Cap Growth Equities

​Benchmark:
Russ​ell 2000 Growth Index

Driver of Expected Return:
Stock selection​

Management

Amy Zhang, CFA
Executive Vice President,
Portfolio Manager

Morningstar

(as of 4/30/2025)

Performance

 
YTD
as of (7/21/2025)
Effective date (6/30/2025) 
 1 Year1y3 Years3y5 Years5y10 Years10ySince Inception
(2/28/2017)
AOFYX-7.60%8.68%6.44%-3.92%-6.71%
Russell 2000 Growth1.22%9.73%12.38%7.42%-7.98%
(Prospectus Dated February 28, 2025, unless otherwise amended)
Shareholder Fees (fees paid directly from your investment)
Maximum Sales Charge (load) Imposed on Purchases as a Percentage of Offering Price-
Maximum Deferred Sales Charge (load) as a Percentage of Purchase Price or Redemption Proceeds, Whichever is Lower-
Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)
Management Fees0.75%
Distribution and/or Service (12b-1) Fees0.00%
Other Expenses0.14%
Total Annual Fund Operating Expenses Total - without Waiver0.89%
Total Annual Fund Operating Expenses Total - with Waiver0.86%

Composition

Holdings

(as of 6/30/2025)
Name
Alger Small Cap Focus Fund
Russell 2000 Growth Index
Active
Weight
RBC Bearings Incorporated5.90%0.00%5.90%
GeneDx Holdings Corp. Class A5.37%0.13%5.24%
Wingstop, Inc.4.42%0.00%4.42%
Tutor Perini Corporation3.70%0.00%3.70%
Impulse Dynamics Ireland Series F-33.34%0.00%3.34%
Talen Energy Corp2.92%0.00%2.92%
Natera, Inc.2.92%0.00%2.92%
Guidewire Software, Inc.2.83%0.00%2.83%
Q2 Holdings, Inc.2.79%0.44%2.35%
BioLife Solutions, Inc.2.78%0.06%2.72%
(as of 4/30/2025)
Name
Alger Small Cap Focus Fund
Russell 2000 Growth Index
Active
Weight
RBC Bearings Incorporated6.17%0.00%6.17%
Natera, Inc.4.57%0.00%4.57%
Guidewire Software, Inc.4.17%0.00%4.17%
BioLife Solutions, Inc.3.96%0.07%3.90%
Impulse Dynamics Ireland Series F-33.54%0.00%3.54%
GeneDx Holdings Corp. Class A3.08%0.01%3.08%
Repligen Corporation2.91%0.00%2.91%
Vertex, Inc. Class A3.06%0.18%2.87%
Q2 Holdings, Inc.2.79%0.39%2.40%
Stevanato Group SpA2.31%0.00%2.31%
(as of 4/30/2025)
Name
Alger Small Cap Focus Fund
Russell 2000 Growth Index
Active
Weight
RBC Bearings Incorporated6.17%0.00%6.17%
Natera, Inc.4.57%0.00%4.57%
Guidewire Software, Inc.4.17%0.00%4.17%
BioLife Solutions, Inc.3.96%0.07%3.90%
Impulse Dynamics Ireland Series F-33.54%0.00%3.54%
GeneDx Holdings Corp. Class A3.08%0.01%3.08%
Vertex, Inc. Class A3.06%0.18%2.87%
Repligen Corporation2.91%0.00%2.91%
Q2 Holdings, Inc.2.79%0.39%2.40%
FTAI Aviation Ltd.2.52%0.91%1.61%
Federal Signal Corporation2.32%0.41%1.91%
Stevanato Group SpA2.31%0.00%2.31%
Loar Holdings Inc.2.25%0.00%2.25%
Clearwater Analytics Holdings, Inc. Class A2.14%0.38%1.76%
Tutor Perini Corporation2.14%0.00%2.14%
CareDx, Inc.2.04%0.02%2.02%
SPX Technologies, Inc.2.02%0.51%1.51%
Talen Energy Corp1.98%0.00%1.98%
Gates Industrial Corporation plc1.93%0.00%1.93%
MoonLake Immunotherapeutics Class A1.86%0.00%1.86%
Bio-Techne Corporation1.84%0.00%1.84%
Insmed Incorporated1.78%1.04%0.74%
Construction Partners, Inc. Class A1.70%0.32%1.38%
Intapp, Inc.1.60%0.24%1.36%
Agilysys, Inc.1.59%0.14%1.45%
Xometry, Inc. Class A1.51%0.09%1.42%
Glaukos Corp1.49%0.39%1.10%
Kura Sushi USA, Inc. Class A1.37%0.03%1.34%
iRhythm Technologies, Inc.1.27%0.28%1.00%
Merit Medical Systems, Inc.1.27%0.45%0.82%
Guardant Health, Inc.1.25%0.47%0.78%
Akero Therapeutics, Inc.1.21%0.05%1.16%
CryoPort, Inc.1.19%0.02%1.17%
Portillo's, Inc. Class A1.17%0.04%1.13%
Modine Manufacturing Company1.14%0.35%0.79%
Galaxy Digital Holdings Ltd.1.14%0.00%1.14%
MarketAxess Holdings Inc.1.09%0.00%1.09%
Adaptive Biotechnologies Corp.1.08%0.00%1.08%
Casella Waste Systems, Inc. Class A1.02%0.61%0.41%
nCino Inc1.01%0.00%1.01%
IDACORP, Inc.1.00%0.00%1.00%
Absci Corporation0.98%0.02%0.97%
Twist Bioscience Corp.0.98%0.19%0.79%
PROS Holdings, Inc.0.98%0.07%0.91%
CSW Industrials, Inc.0.97%0.44%0.53%
Upstart Holdings, Inc.0.96%0.32%0.64%
Hamilton Lane Incorporated Class A0.89%0.51%0.38%
PAR Technology Corporation0.66%0.15%0.50%
Workiva Inc. Class A0.66%0.32%0.34%
Certara, Inc.0.53%0.00%0.53%

Exposures

GICS Sector Allocations (%)Active Weight
Health Care
13.83%
Industrials
6.08%
Information Technology
-3.38%
Consumer Discretionary
1.36%
Financials
-7.24%
Utilities
2.40%
Real Estate
-2.05%
Communication Services
-2.77%
Consumer Staples
-2.79%
Energy
-3.11%
Materials
-3.07%
0102030
Alger Small Cap Focus FundRussell 2000 Growth Index
(as of 6/30/2025)
Region (%)Active Weight
North America
-5.37%
Europe
3.04%
Latin America
1.50%
Asia/Pacific Ex Japan
0.45%
Africa/Middle East
-0.09%
0102030405060708090
Alger Small Cap Focus FundRussell 2000 Growth Index
(as of 6/30/2025)
Country (%)Active Weight
United States
-5.29%
Italy
2.51%
Colombia
2.22%
Netherlands
1.18%
China
0.52%
Brazil
-0.72%
United Kingdom
-0.53%
Israel
-0.09%
Canada
-0.09%
Germany
-0.08%
Singapore
-0.08%
Belgium
-0.02%
Sweden
-0.02%
British Virgin Islands
-0.00%
Gibraltar
-0.00%
Monaco
-0.00%
0102030405060708090
Alger Small Cap Focus FundRussell 2000 Growth Index
(as of 6/30/2025)
Market Capitalization (%)
> $50B
$15B - $50B
$7.5B - $15B
$1.5B - $7.5B
$750M - $1.5B
< $750M
010203040506070
Alger Small Cap Focus FundRussell 2000 Growth Index
(as of 6/30/2025)
Alger Small Cap Focus Fund
Equity Holdings99.52%
Cash0.48%

Attribution (Gross)

(for 1-Year Period ended x/x/xx)
(for 1-Year Period ended 6/30/2025)
Alger Small Cap Focus FundRussell 2000 GrowthAttribution
Analysis
Average
Weight (%)
Contribution to
Return (%)
Average
Weight (%)
Contribution to
Return (%)
Total
Effect (%)
Health Care34.872.4624.60-0.222.58
Industrials22.477.2222.514.642.55
Utilities1.400.950.480.010.74
Energy0.35-0.623.38-0.760.41
Communication Services0.000.002.040.060.10
Real Estate0.000.001.480.15-0.04
Materials-0.000.003.820.50-0.05
Consumer Staples0.06-0.143.460.51-0.46
Consumer Discretionary7.480.249.850.47-1.30
Information Technology25.260.5319.682.14-2.07
Financials3.54-1.178.702.22-2.18
(for 1-Year Period ended x/x/xx)
(for 1-Year Period ended x/x/xx)
(for the quarter ended 6/30/2025)
ContributorsDetractors
Tutor Perini CorporationClearwater Analytics Holdings, Inc. Class A
RBC Bearings IncorporatedPROS Holdings, Inc.
Federal Signal CorporationNeogen Corp
Talen Energy CorpBio-Techne Corporation
Kura Sushi USA, Inc. Class ATwist Bioscience Corp.

Risk Metrics

(as of 6/30/2025)
Alger Small Cap Focus FundRussell 2000 Growth Index
Alpha (5 Year)-10.660.00
Beta (5 Year)0.961.00
R-Squared0.861.00
Sharpe Ratio-0.180.30
Information Ratio-1.20-
Capture Ratio0.691.00