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

as of 7/25/2025
Fund Snapshot

  • Share ClassY
  • CUSIP015565229
  • Net Asset Value$19.72
  • Offering Price-
  • Daily Change (NAV)0.25%
  • 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 (7/25/2025)
Effective date (6/30/2025) 
 1 Year1y3 Years3y5 Years5y10 Years10ySince Inception
(2/28/2017)
AOFYX-5.69%8.68%6.44%-3.92%-6.71%
Russell 2000 Growth2.50%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

Characteristics

(as of 6/30/2025)
Alger Small Cap Focus FundRussell 2000 Growth Index
Number of Equity Holdings491100
Active Share92.61%-
Average Market Cap$6.21 bil$1.86 bil
Median Market Cap$5.83 bil$1.18 bil
Weighted Average Market Cap$6.82 bil$4.22 bil
P/E Ratio40.26x20.72x
Price/Book Ratio5.42x4.77x
Sales Growth (Next 12 Months)15.12%9.90%
EPS Growth (3-5 YR) Forecasted5.21%11.40%
Characteristics are sourced from FactSet, an independent source, using all available data. Fred Alger Management, LLC, makes no representation that FactSet is complete, reliable, or accurate. With the exception of active share, the calculation excludes cash.

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 Care34.872.4624.60-0.232.58
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 Estate0.000.001.400.090.01
Materials-0.000.003.820.50-0.05
Consumer Staples0.06-0.143.460.51-0.46
Consumer Discretionary7.480.249.840.47-1.30
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