Concentrated Equity
Large CapLarge Cap
Alger Concentrated Equity FundCNEZX

as of 7/7/2025
Fund Snapshot

  • Share ClassZ
  • CUSIP01556Q843
  • Net Asset Value$14.70
  • Offering Price-
  • Daily Change (NAV)-0.81%
  • Minimum Investment$500,000
  • Annual Fund Operating Expenses Total - without Waiver
    (as of 2/28/2025)
    6.54%
  • Annual Fund Operating Expenses Total - with Waiver0.55%
    (as of 2/28/2025)

Investment Strategy

Invests in a focused portfolio of 30 or fewer holdings consisting of companies of any capitalization identified through our fundamental research as demonstrating promising growth potential. Seeks long-term capital appreciation.



Highlights

Asset Class:
U.S. Large Cap Growth Equities

​Benchmark:
Russell 1000 Growth ​​Index​
S&P 500 Index​

Driver of Expected Return:
Stock selection​


​​​​A Closer Look: Portfolio Manager Dr. Ankur Crawford explains the process behind the Alger Concentrated Equity ​

Management

Dr. Ankur Crawford
Executive Vice President,
Portfolio Manager

Morningstar

(as of 4/30/2025)

Performance

 
YTD
as of (7/7/2025)
Effective date (3/31/2025) 
 1 Year1y3 Years3y5 Years5y10 Years10ySince Inception
(4/4/2024)
CNEZX12.82%----14.99%
Russell 1000 Growth6.26%----10.04%
S&P 5006.66%----10.48%
Distribution TypeRecord DateEx-Dividend/Payable DatePer Share Amounts
($)
Reinvest Price
($)
Short Term Gain12/11/202412/12/20240.045513.37
(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 Fees0.45%
Distribution and/or Service (12b-1) Fees0.00%
Other Expenses6.09%
Total Annual Fund Operating Expenses Total - without Waiver6.54%
Total Annual Fund Operating Expenses Total - with Waiver0.55%

Composition

Characteristics

(as of 3/31/2025)
Alger Concentrated Equity FundRussell 1000 Growth IndexS&P 500 Index
Number of Equity Holdings30394503
Active Share52.27%--
Average Market Cap$654.27 bil$95.11 bil$104.28 bil
Median Market Cap$134.23 bil$19.44 bil$36.14 bil
Weighted Average Market Cap$1213.44 bil$1399.03 bil$905.49 bil
P/E Ratio29.89x26.00x21.03x
Price/Book Ratio9.43x11.43x7.30x
Sales Growth (Next 12 Months)11.98%11.04%6.65%
EPS Growth (3-5 YR) Forecasted12.94%10.13%9.56%
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 5/31/2025)
Name
Alger Concentrated Equity Fund
Russell 1000 Growth Index
Active
Weight
NVIDIA Corporation13.92%10.53%3.39%
Microsoft Corporation9.79%11.39%-1.60%
Amazon.com, Inc.9.24%6.46%2.79%
Meta Platforms Inc Class A6.23%4.33%1.90%
AppLovin Corp. Class A4.86%0.36%4.49%
(as of 4/30/2025)
Name
Alger Concentrated Equity Fund
Russell 1000 Growth Index
Active
Weight
GFL Environmental Inc4.43%0.00%4.43%
Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR4.06%0.00%4.06%
AppLovin Corp. Class A3.78%0.27%3.51%
Sea Limited Sponsored ADR Class A3.51%0.00%3.51%
NVIDIA Corporation11.94%9.23%2.70%
HEICO Corporation Class A2.75%0.06%2.69%
Amazon.com, Inc.8.99%6.32%2.67%
Constellation Energy Corporation2.71%0.04%2.66%
Meta Platforms Inc Class A6.35%3.99%2.36%
Intuitive Surgical, Inc.2.98%0.69%2.29%
(as of 4/30/2025)
Name
Alger Concentrated Equity Fund
Russell 1000 Growth Index
Active
Weight
NVIDIA Corporation11.94%9.23%2.70%
Microsoft Corporation10.10%10.64%-0.54%
Amazon.com, Inc.8.99%6.32%2.67%
Meta Platforms Inc Class A6.35%3.99%2.36%
GFL Environmental Inc4.43%0.00%4.43%
Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR4.06%0.00%4.06%
AppLovin Corp. Class A3.78%0.27%3.51%
Tesla, Inc.3.68%2.99%0.69%
Sea Limited Sponsored ADR Class A3.51%0.00%3.51%
Apple Inc.3.18%11.31%-8.13%
Intuitive Surgical, Inc.2.98%0.69%2.29%
HEICO Corporation Class A2.75%0.06%2.69%
Netflix, Inc.2.73%1.85%0.89%
Constellation Energy Corporation2.71%0.04%2.66%
Visa Inc. Class A2.52%2.27%0.24%
Robinhood Markets, Inc. Class A2.07%0.00%2.07%
Broadcom Inc.2.00%3.28%-1.28%
Vertiv Holdings Co. Class A1.99%0.12%1.87%
Liberty Media Corp. Series C Liberty Formula One1.93%0.03%1.90%
Talen Energy Corp1.88%0.00%1.88%
Ferrari NV1.76%0.00%1.76%
Natera, Inc.1.56%0.07%1.49%
Nebius Group N.V. Class A1.48%0.00%1.48%
Alphabet Inc. Class C1.47%2.85%-1.38%
ASML Holding NV Sponsored ADR1.44%0.00%1.44%
Eli Lilly and Company1.42%2.74%-1.33%
Cadence Design Systems, Inc.1.33%0.31%1.02%
Astera Labs, Inc.1.25%0.00%1.25%
MercadoLibre, Inc.1.02%0.00%1.02%
S&P Global, Inc.0.51%0.00%0.51%

Exposures

GICS Sector Allocations (%)Active Weight
Information Technology
-5.18%
Communication Services
2.93%
Consumer Discretionary
0.82%
Industrials
3.81%
Utilities
5.70%
Health Care
-1.58%
Financials
-2.44%
Real Estate
-0.52%
Consumer Staples
-3.58%
Energy
-0.41%
Materials
-0.61%
010203040
Alger Concentrated Equity FundRussell 1000 Growth Index
(as of 5/31/2025)
Region (%)Active Weight
North America
-12.99%
Asia/Pacific Ex Japan
7.22%
Europe
3.62%
Latin America
1.09%
0102030405060708090
Alger Concentrated Equity FundRussell 1000 Growth Index
(as of 5/31/2025)
Country (%)Active Weight
United States
-16.83%
Taiwan
4.04%
Canada
3.84%
Singapore
3.19%
Netherlands
2.54%
Italy
1.43%
Argentina
1.26%
Sweden
-0.34%
Brazil
-0.14%
Peru
-0.03%
0102030405060708090
Alger Concentrated Equity FundRussell 1000 Growth Index
(as of 5/31/2025)
Market Capitalization (%)
> $50B
$15B - $50B
$7.5B - $15B
$1.5B - $7.5B
$750M - $1.5B
< $750M
0102030405060708090
Alger Concentrated Equity FundRussell 1000 Growth Index
(as of 3/31/2025)
Alger Concentrated Equity Fund
Equity Holdings98.06%
Cash1.93%

Attribution

(for 1-Year Period ended x/x/xx)
(for 1-Year Period ended x/x/xx)
(for 1-Year Period ended x/x/xx)
(for 1-Year Period ended x/x/xx)
(for the quarter ended 3/31/2025)
ContributorsDetractors
HEICO Corporation Class ANVIDIA Corporation
GFL Environmental IncTesla, Inc.
Sea Limited Sponsored ADR Class AAmazon.com, Inc.
Visa Inc. Class ABroadcom Inc.
MercadoLibre, Inc.Microsoft Corporation