# EDGAR Filing Document

**Accession Number:** 0000832566
**File Stem:** 0000940400-26-021786
**Filing Date:** 2026-5
**Character Count:** 180988
**Document Hash:** bdccd6a1930ecf0bf398b00780ff5e44
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-021786.hdr.sgml**: 20260528

**ACCESSION NUMBER**: 0000940400-26-021786

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 4

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260528

**DATE AS OF CHANGE**: 20260528

**PERIOD START**: 20261231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ALGER PORTFOLIOS
- **CENTRAL INDEX KEY:** 0000832566

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05550
- **FILM NUMBER:** 261032218

**BUSINESS ADDRESS:**
- **STREET 1:** 100 PEARL STREET
- **STREET 2:** 27TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10004
- **BUSINESS PHONE:** 212-806-8800

**MAIL ADDRESS:**
- **STREET 1:** 100 PEARL STREET
- **STREET 2:** 27TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10004

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ALGER AMERICAN FUND
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### Alger Small Cap Growth Portfolio (Series ID: S000009215)

| Class ID   | Class Name                                 | Ticker Symbol   |
|:---|:---|:---|
| C000025026 | Alger Small Cap Growth Portfolio Class I-2 | AASOX           |

## Nport-Ex

![](img7f0a305f1.gif)

THE ALGER PORTFOLIOS

**QUARTERLY REPORT**

**March 31, 2026 (UNAUDITED)**

![](imgbf146f9b2.gif)

------

**THE ALGER PORTFOLIOS \| ALGER CAPITAL APPRECIATION PORTFOLIO**

**Schedule of Investments March 31, 2026 (Unaudited)** <br>

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE** |
| **COMMON STOCKS—93.4%** | **COMMON STOCKS—93.4%** | **COMMON STOCKS—93.4%** |
| **AEROSPACE & DEFENSE—0.8%** | **AEROSPACE & DEFENSE—0.8%** | **AEROSPACE & DEFENSE—0.8%** |
| HEICO Corp., Cl. A | 25518 | **$5386595** |
| **APPLICATION SOFTWARE—2.8%** | **APPLICATION SOFTWARE—2.8%** | **APPLICATION SOFTWARE—2.8%** |
| AppLovin Corp., Cl. A<sup>\*</sup>  | 32137 | 12790526 |
| Cadence Design Systems, Inc.<sup>\*</sup>  | 6016 | 1671666 |
| Palantir Technologies, Inc., Cl. A<sup>\*</sup>  | 29092 | 4255578 |
|  |  | **18717770** |
| **AUTOMOBILE MANUFACTURERS—3.2%** | **AUTOMOBILE MANUFACTURERS—3.2%** | **AUTOMOBILE MANUFACTURERS—3.2%** |
| Tesla, Inc.<sup>\*</sup>  | 55865 | **20767814** |
| **BIOTECHNOLOGY—4.2%** | **BIOTECHNOLOGY—4.2%** | **BIOTECHNOLOGY—4.2%** |
| Abivax SA ADR<sup>\*</sup>  | 41211 | 4588845 |
| Arrowhead Pharmaceuticals, Inc.<sup>\*</sup>  | 71809 | 4502424 |
| Ascendis Pharma A/S ADR<sup>\*</sup>  | 9149 | 2092651 |
| Biogen, Inc.<sup>\*</sup>  | 21663 | 3971478 |
| Cogent Biosciences, Inc.<sup>\*</sup>  | 26435 | 1017483 |
| Dianthus Therapeutics, Inc.<sup>\*</sup>  | 29190 | 2449625 |
| Natera, Inc.<sup>\*</sup>  | 36642 | 7328033 |
| Roivant Sciences Ltd.<sup>\*</sup>  | 55507 | 1537544 |
|  |  | **27488083** |
| **BROADLINE RETAIL—8.7%** | **BROADLINE RETAIL—8.7%** | **BROADLINE RETAIL—8.7%** |
| Amazon.com, Inc.<sup>\*</sup>  | 210856 | 43914979 |
| MercadoLibre, Inc.<sup>\*</sup>  | 2904 | 5021074 |
| Sea Ltd., Cl. A ADR<sup>\*</sup>  | 102449 | 8483802 |
|  |  | **57419855** |
| **COAL & CONSUMABLE FUELS—0.5%** | **COAL & CONSUMABLE FUELS—0.5%** | **COAL & CONSUMABLE FUELS—0.5%** |
| Cameco Corp. | 29340 | **3186617** |
| **COMMERCIAL & RESIDENTIAL MORTGAGE FINANCE—0.7%** | **COMMERCIAL & RESIDENTIAL MORTGAGE FINANCE—0.7%** | **COMMERCIAL & RESIDENTIAL MORTGAGE FINANCE—0.7%** |
| Rocket Cos., Inc., Cl. A | 310163 | **4419823** |
| **COMMUNICATIONS EQUIPMENT—0.3%** | **COMMUNICATIONS EQUIPMENT—0.3%** | **COMMUNICATIONS EQUIPMENT—0.3%** |
| Arista Networks, Inc.<sup>\*</sup>  | 17367 | **2132320** |
| **CONSTRUCTION MACHINERY & HEAVY TRANSPORTATION EQUIPMENT—0.4%** | **CONSTRUCTION MACHINERY & HEAVY TRANSPORTATION EQUIPMENT—0.4%** | **CONSTRUCTION MACHINERY & HEAVY TRANSPORTATION EQUIPMENT—0.4%** |
| Caterpillar, Inc. | 3845 | **2724029** |
| **CONSUMER FINANCE—0.5%** | **CONSUMER FINANCE—0.5%** | **CONSUMER FINANCE—0.5%** |
| Figure Technology Solutions, Inc., Cl. A<sup>\*</sup>  | 99949 | **3393269** |
| **DIVERSIFIED METALS & MINING—0.1%** | **DIVERSIFIED METALS & MINING—0.1%** | **DIVERSIFIED METALS & MINING—0.1%** |
| MP Materials Corp., Cl. A<sup>\*</sup>  | 14733 | **711015** |
| **ELECTRIC UTILITIES—0.1%** | **ELECTRIC UTILITIES—0.1%** | **ELECTRIC UTILITIES—0.1%** |
| Constellation Energy Corp. | 793 | 221445 |
| NRG Energy, Inc. | 4316 | 630740 |
|  |  | **852185** |
| **ENVIRONMENTAL & FACILITIES SERVICES—0.7%** | **ENVIRONMENTAL & FACILITIES SERVICES—0.7%** | **ENVIRONMENTAL & FACILITIES SERVICES—0.7%** |
| GFL Environmental, Inc. | 105540 | **4403129** |

---

*See Notes to Financial Statements.*

------

**THE ALGER PORTFOLIOS \| ALGER CAPITAL APPRECIATION PORTFOLIO**

**Schedule of Investments March 31, 2026 (Unaudited) (Continued)** <br>

------

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE** |
| **COMMON STOCKS—93.4% (CONT.)** | **COMMON STOCKS—93.4% (CONT.)** | **COMMON STOCKS—93.4% (CONT.)** |
| **HEALTH CARE DISTRIBUTORS—0.6%** | **HEALTH CARE DISTRIBUTORS—0.6%** | **HEALTH CARE DISTRIBUTORS—0.6%** |
| Cardinal Health, Inc. | 19435 | **$4106810** |
| **HEALTHCARE EQUIPMENT—1.2%** | **HEALTHCARE EQUIPMENT—1.2%** | **HEALTHCARE EQUIPMENT—1.2%** |
| Boston Scientific Corp.<sup>\*</sup>  | 59027 | 3703944 |
| Intuitive Surgical, Inc.<sup>\*</sup>  | 9788 | 4512170 |
|  |  | **8216114** |
| **HEALTHCARE FACILITIES—0.3%** | **HEALTHCARE FACILITIES—0.3%** | **HEALTHCARE FACILITIES—0.3%** |
| Tenet Healthcare Corp.<sup>\*</sup>  | 9428 | **1779158** |
| **HEALTHCARE TECHNOLOGY—0.2%** | **HEALTHCARE TECHNOLOGY—0.2%** | **HEALTHCARE TECHNOLOGY—0.2%** |
| Veeva Systems, Inc., Cl. A<sup>\*</sup>  | 7375 | **1295493** |
| **HEAVY ELECTRICAL EQUIPMENT—1.0%** | **HEAVY ELECTRICAL EQUIPMENT—1.0%** | **HEAVY ELECTRICAL EQUIPMENT—1.0%** |
| GE Vernova, Inc. | 7557 | **6596505** |
| **HOME FURNISHINGS—0.2%** | **HOME FURNISHINGS—0.2%** | **HOME FURNISHINGS—0.2%** |
| Somnigroup International, Inc. | 17724 | **1310158** |
| **HOUSEHOLD APPLIANCES—0.2%** | **HOUSEHOLD APPLIANCES—0.2%** | **HOUSEHOLD APPLIANCES—0.2%** |
| SharkNinja, Inc.<sup>\*</sup>  | 11533 | **1221345** |
| **INDEPENDENT POWER PRODUCERS & ENERGY TRADERS—2.0%** | **INDEPENDENT POWER PRODUCERS & ENERGY TRADERS—2.0%** | **INDEPENDENT POWER PRODUCERS & ENERGY TRADERS—2.0%** |
| Talen Energy Corp.<sup>\*</sup>  | 41390 | 13212930 |
| Vistra Corp. | 393 | 59079 |
|  |  | **13272009** |
| **INTERACTIVE MEDIA & SERVICES—9.8%** | **INTERACTIVE MEDIA & SERVICES—9.8%** | **INTERACTIVE MEDIA & SERVICES—9.8%** |
| Alphabet, Inc., Cl. C | 116774 | 33497790 |
| Meta Platforms, Inc., Cl. A | 54486 | 31173075 |
|  |  | **64670865** |
| **INTERNET SERVICES & INFRASTRUCTURE—1.7%** | **INTERNET SERVICES & INFRASTRUCTURE—1.7%** | **INTERNET SERVICES & INFRASTRUCTURE—1.7%** |
| Cloudflare, Inc., Cl. A<sup>\*</sup>  | 14906 | 3075704 |
| MongoDB, Inc., Cl. A<sup>\*</sup>  | 12809 | 3135259 |
| Shopify, Inc., Cl. A<sup>\*</sup>  | 43167 | 5120470 |
|  |  | **11331433** |
| **INVESTMENT BANKING & BROKERAGE—0.3%** | **INVESTMENT BANKING & BROKERAGE—0.3%** | **INVESTMENT BANKING & BROKERAGE—0.3%** |
| Robinhood Markets, Inc., Cl. A<sup>\*</sup>  | 30195 | **2092513** |
| **MANAGED HEALTHCARE—0.5%** | **MANAGED HEALTHCARE—0.5%** | **MANAGED HEALTHCARE—0.5%** |
| UnitedHealth Group, Inc. | 12075 | **3267374** |
| **MOVIES & ENTERTAINMENT—1.9%** | **MOVIES & ENTERTAINMENT—1.9%** | **MOVIES & ENTERTAINMENT—1.9%** |
| Liberty Media Corp. Series C Liberty Formula One<sup>\*</sup>  | 12088 | 1027722 |
| Netflix, Inc.<sup>\*</sup>  | 51377 | 4939898 |
| Roku, Inc., Cl. A<sup>\*</sup>  | 58743 | 5558263 |
| Sphere Entertainment Co., Cl. A<sup>\*</sup>  | 749 | 87933 |
| TKO Group Holdings, Inc., Cl. A | 5754 | 1160294 |
|  |  | **12774110** |

---

*See Notes to Financial Statements.*

------

**THE ALGER PORTFOLIOS \| ALGER CAPITAL APPRECIATION PORTFOLIO**

**Schedule of Investments March 31, 2026 (Unaudited) (Continued)** <br>

------

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE** |
| **COMMON STOCKS—93.4% (CONT.)** | **COMMON STOCKS—93.4% (CONT.)** | **COMMON STOCKS—93.4% (CONT.)** |
| **OIL & GAS STORAGE & TRANSPORTATION—0.1%** | **OIL & GAS STORAGE & TRANSPORTATION—0.1%** | **OIL & GAS STORAGE & TRANSPORTATION—0.1%** |
| Cheniere Energy, Inc. | 2236 | **$634487** |
| **PHARMACEUTICALS—1.6%** | **PHARMACEUTICALS—1.6%** | **PHARMACEUTICALS—1.6%** |
| AstraZeneca PLC | 25914 | 5110858 |
| Eli Lilly & Co. | 4867 | 4476520 |
| Merck & Co., Inc. | 10579 | 1272548 |
|  |  | **10859926** |
| **SEMICONDUCTORS—24.0%** | **SEMICONDUCTORS—24.0%** | **SEMICONDUCTORS—24.0%** |
| Astera Labs, Inc.<sup>\*</sup>  | 70202 | 7694139 |
| Broadcom, Inc. | 86356 | 26728046 |
| Micron Technology, Inc. | 3917 | 1323319 |
| NVIDIA Corp. | 507570 | 88520208 |
| Taiwan Semiconductor Manufacturing Co., Ltd. ADR | 101077 | 34158972 |
|  |  | **158424684** |
| **SOFT DRINKS & NON-ALCOHOLIC BEVERAGES—0.1%** | **SOFT DRINKS & NON-ALCOHOLIC BEVERAGES—0.1%** | **SOFT DRINKS & NON-ALCOHOLIC BEVERAGES—0.1%** |
| Celsius Holdings, Inc.<sup>\*</sup>  | 15275 | **541957** |
| **SPECIALTY CHEMICALS—0.4%** | **SPECIALTY CHEMICALS—0.4%** | **SPECIALTY CHEMICALS—0.4%** |
| DuPont de Nemours, Inc. | 56230 | **2575334** |
| **SYSTEMS SOFTWARE—13.3%** | **SYSTEMS SOFTWARE—13.3%** | **SYSTEMS SOFTWARE—13.3%** |
| Microsoft Corp. | 160973 | 59587375 |
| Nebius Group NV, Cl. A<sup>\*</sup>  | 272564 | 28281241 |
|  |  | **87868616** |
| **TECHNOLOGY HARDWARE STORAGE & PERIPHERALS—9.1%** | **TECHNOLOGY HARDWARE STORAGE & PERIPHERALS—9.1%** | **TECHNOLOGY HARDWARE STORAGE & PERIPHERALS—9.1%** |
| Apple, Inc. | 156701 | 39769147 |
| Western Digital Corp. | 74470 | 20143390 |
|  |  | **59912537** |
| **TRADING COMPANIES & DISTRIBUTORS—1.9%** | **TRADING COMPANIES & DISTRIBUTORS—1.9%** | **TRADING COMPANIES & DISTRIBUTORS—1.9%** |
| EquipmentShare.com, Inc., Cl. A<sup>\*</sup>  | 119258 | 2429285 |
| QXO, Inc.<sup>\*</sup>  | 535166 | 10392924 |
|  |  | **12822209** |
| &nbsp;&nbsp;&nbsp; **TOTAL COMMON STOCKS** <br>(Cost $296,978,983) |  | **617176141** |
| **PREFERRED STOCKS—3.3%** | **PREFERRED STOCKS—3.3%** | **PREFERRED STOCKS—3.3%** |
| **APPLICATION SOFTWARE—2.6%** | **APPLICATION SOFTWARE—2.6%** | **APPLICATION SOFTWARE—2.6%** |
| Databricks, Inc., Series J<sup>(a),\*,@</sup>  | 68003 | 11691756 |
| Databricks, Inc., Series L<sup>(a),\*,@</sup>  | 2057 | 353660 |
| OpenAI Group, PBC Series C<sup>(a),\*,@</sup>  | 2244 | 1543169 |
| SB Technology, Inc., Series E<sup>(a),\*,@</sup>  | 102616 | 3693150 |
|  |  | **17281735** |
| **INDUSTRIAL MACHINERY & SUPPLIES & COMPONENTS—0.7%** | **INDUSTRIAL MACHINERY & SUPPLIES & COMPONENTS—0.7%** | **INDUSTRIAL MACHINERY & SUPPLIES & COMPONENTS—0.7%** |
| Apptronik, Inc., Series A-X1<sup>(a),\*,@</sup>  | 56187 | 2077076 |

---

*See Notes to Financial Statements.*

------

**THE ALGER PORTFOLIOS \| ALGER CAPITAL APPRECIATION PORTFOLIO**

**Schedule of Investments March 31, 2026 (Unaudited) (Continued)** <br>

------

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE** |
| **PREFERRED STOCKS—3.3% (CONT.)** | **PREFERRED STOCKS—3.3% (CONT.)** | **PREFERRED STOCKS—3.3% (CONT.)** |
| **INDUSTRIAL MACHINERY & SUPPLIES & COMPONENTS—0.7% (CONT.)** | **INDUSTRIAL MACHINERY & SUPPLIES & COMPONENTS—0.7% (CONT.)** | **INDUSTRIAL MACHINERY & SUPPLIES & COMPONENTS—0.7% (CONT.)** |
| Figure AI, Inc., Series C<sup>(a),\*,@</sup>  | 11183 | **$** 2185158 |
|  |  | **4262234** |
| &nbsp;&nbsp;&nbsp; **TOTAL PREFERRED STOCKS** <br>(Cost $14,247,294) |  | **21543969** |
| **REAL ESTATE INVESTMENT TRUSTS—0.7%** | **REAL ESTATE INVESTMENT TRUSTS—0.7%** | **REAL ESTATE INVESTMENT TRUSTS—0.7%** |
| **HEALTH CARE—0.7%** | **HEALTH CARE—0.7%** | **HEALTH CARE—0.7%** |
| Welltower, Inc. | 22337 | **4416248** |
| &nbsp;&nbsp;&nbsp; (Cost $4,648,883) |  | **4416248** |
| **SPECIAL PURPOSE VEHICLES—1.0%** | **SPECIAL PURPOSE VEHICLES—1.0%** | **SPECIAL PURPOSE VEHICLES—1.0%** |
| **APPLICATION SOFTWARE—1.0%** | **APPLICATION SOFTWARE—1.0%** | **APPLICATION SOFTWARE—1.0%** |
| 2026 VDC LP<sup>(a),\*,@</sup>  |  | 708298 |
| Disruptive Technology Solutions LI, LLC<sup>(a),\*,@</sup>  |  | 6058950 |
| &nbsp;&nbsp;&nbsp; (Cost $3,918,480) |  | **6767248** |
| **SHORT-TERM SECURITIES—1.8%** | **SHORT-TERM SECURITIES—1.8%** | **SHORT-TERM SECURITIES—1.8%** |
| **MONEY MARKET FUNDS—1.8%** | **MONEY MARKET FUNDS—1.8%** | **MONEY MARKET FUNDS—1.8%** |
| &nbsp;&nbsp;&nbsp; Dreyfus Treasury Obligations Cash Management Fund, <br>Institutional Shares, 3.54%<sup>(b)</sup>  | 12009627 | **12009627** |
| &nbsp;&nbsp;&nbsp; (Cost $12,009,627) |  | **12009627** |
| &nbsp;&nbsp;&nbsp; **Total Investments** <br>**(Cost $331,803,267)** | 100.2% | **$661913233** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unaffiliated Securities (Cost $331,803,267) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 661913233 |
| Liabilities in Excess of Other Assets | (0.2)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1388105) |
| **NET ASSETS** | 100.0% | **$660525128** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

*ADR* *American Depositary Receipts*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| *(a)* | *Security is valued in good faith at fair value determined using significant unobservable inputs pursuant to procedures* <br> *approved by the Board of Trustees.*<br>|
| *(b)* | *Rate shown reflects 7-day effective yield as of March 31, 2026.* |
| *\** | *Non-income producing security.* |
| *@* | *Restricted security - Investment in security not registered under the Securities Act of 1933. Sales or transfers of the* <br> *investment may be restricted only to qualified buyers.*<br>|

---

*See Notes to Financial Statements.*

------

**THE ALGER PORTFOLIOS \| ALGER CAPITAL APPRECIATION PORTFOLIO**

**Schedule of Investments March 31, 2026 (Unaudited) (Continued)** <br>

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Security* | *Acquisition* <br>*Date(s)*<br>| *Acquisition* <br>*Cost*<br>| *Market* <br>*Value*<br>| *% of net assets* <br>*as of* <br>*3/31/2026*<br>|
| *2026 VDC LP* | *3/2/26-3/31/26* | &nbsp;&nbsp;&nbsp;&nbsp; $*717730* | $*708298* | *0.1%* |
| *Apptronik, Inc., Series A-X1* | *1/29/26* | *2077076* | *2077076* | *0.3%* |
| *Databricks, Inc., Series J* | *12/17/24* | *6290278* | *11691756* | *1.8%* |
| *Databricks, Inc., Series L* | *12/16/25* | *390830* | *353660* | *0.0%* |
| *Disruptive Technology Solutions LI, LLC* | *11/4/25* | *3200750* | *6058950* | *0.9%* |
| *Figure AI, Inc., Series C* | *11/18/25* | *2179920* | *2185158* | *0.4%* |
| *OpenAI Group, PBC Series C* | *3/31/26* | *1543169* | *1543169* | *0.2%* |
| *SB Technology, Inc., Series E* | *10/23/24* | *1766021* | *3693150* | *0.6%* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total |  | $18165774 | $28311217 | 4.3% |

---

*See Notes to Financial Statements.*

------

**THE ALGER PORTFOLIOS \| ALGER LARGE CAP GROWTH PORTFOLIO**

**Schedule of Investments March 31, 2026 (Unaudited)** <br>

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE** |
| **COMMON STOCKS—91.7%** | **COMMON STOCKS—91.7%** | **COMMON STOCKS—91.7%** |
| **AEROSPACE & DEFENSE—1.0%** | **AEROSPACE & DEFENSE—1.0%** | **AEROSPACE & DEFENSE—1.0%** |
| HEICO Corp. | 13910 | **$3814122** |
| **APPLICATION SOFTWARE—4.3%** | **APPLICATION SOFTWARE—4.3%** | **APPLICATION SOFTWARE—4.3%** |
| AppLovin Corp., Cl. A<sup>\*</sup>  | 33856 | 13474688 |
| Cadence Design Systems, Inc.<sup>\*</sup>  | 11142 | 3096028 |
|  |  | **16570716** |
| **ASSET MANAGEMENT & CUSTODY BANKS—1.6%** | **ASSET MANAGEMENT & CUSTODY BANKS—1.6%** | **ASSET MANAGEMENT & CUSTODY BANKS—1.6%** |
| Blackstone, Inc. | 35761 | 4112157 |
| KKR & Co., Inc. | 20522 | 1898285 |
|  |  | **6010442** |
| **BIOTECHNOLOGY—7.9%** | **BIOTECHNOLOGY—7.9%** | **BIOTECHNOLOGY—7.9%** |
| Abivax SA ADR<sup>\*</sup>  | 69426 | 7730585 |
| Arrowhead Pharmaceuticals, Inc.<sup>\*</sup>  | 92008 | 5768902 |
| Biogen, Inc.<sup>\*</sup>  | 10341 | 1895816 |
| Forte Biosciences, Inc.<sup>\*</sup>  | 124555 | 3225974 |
| Natera, Inc.<sup>\*</sup>  | 58557 | 11710814 |
|  |  | **30332091** |
| **BROADLINE RETAIL—7.3%** | **BROADLINE RETAIL—7.3%** | **BROADLINE RETAIL—7.3%** |
| Amazon.com, Inc.<sup>\*</sup>  | &nbsp;&nbsp; 111465 | 23214816 |
| MercadoLibre, Inc.<sup>\*</sup>  | 2242 | 3876463 |
| Sea Ltd., Cl. A ADR<sup>\*</sup>  | 11593 | 960016 |
|  |  | **28051295** |
| **ELECTRICAL COMPONENTS & EQUIPMENT—1.2%** | **ELECTRICAL COMPONENTS & EQUIPMENT—1.2%** | **ELECTRICAL COMPONENTS & EQUIPMENT—1.2%** |
| Enovix Corp.<sup>\*</sup>  | 912858 | **4728604** |
| **ELECTRONIC COMPONENTS—0.8%** | **ELECTRONIC COMPONENTS—0.8%** | **ELECTRONIC COMPONENTS—0.8%** |
| Coherent Corp.<sup>\*</sup>  | 12349 | **2941655** |
| **HEALTHCARE EQUIPMENT—1.5%** | **HEALTHCARE EQUIPMENT—1.5%** | **HEALTHCARE EQUIPMENT—1.5%** |
| Edwards Lifesciences Corp.<sup>\*</sup>  | 24930 | 1996394 |
| Intuitive Surgical, Inc.<sup>\*</sup>  | 8236 | 3796714 |
|  |  | **5793108** |
| **HEALTHCARE TECHNOLOGY—0.4%** | **HEALTHCARE TECHNOLOGY—0.4%** | **HEALTHCARE TECHNOLOGY—0.4%** |
| Schrodinger, Inc.<sup>\*</sup>  | 122272 | **1389010** |
| **HEAVY ELECTRICAL EQUIPMENT—2.0%** | **HEAVY ELECTRICAL EQUIPMENT—2.0%** | **HEAVY ELECTRICAL EQUIPMENT—2.0%** |
| GE Vernova, Inc. | 8865 | **7738258** |
| **INDEPENDENT POWER PRODUCERS & ENERGY TRADERS—2.0%** | **INDEPENDENT POWER PRODUCERS & ENERGY TRADERS—2.0%** | **INDEPENDENT POWER PRODUCERS & ENERGY TRADERS—2.0%** |
| Talen Energy Corp.<sup>\*</sup>  | 24245 | **7739731** |
| **INTERACTIVE HOME ENTERTAINMENT—1.0%** | **INTERACTIVE HOME ENTERTAINMENT—1.0%** | **INTERACTIVE HOME ENTERTAINMENT—1.0%** |
| Take-Two Interactive Software, Inc.<sup>\*</sup>  | 19107 | **3773633** |
| **INTERACTIVE MEDIA & SERVICES—12.0%** | **INTERACTIVE MEDIA & SERVICES—12.0%** | **INTERACTIVE MEDIA & SERVICES—12.0%** |
| Alphabet, Inc., Cl. C | 100176 | 28736487 |

---

*See Notes to Financial Statements.*

------

**THE ALGER PORTFOLIOS \| ALGER LARGE CAP GROWTH PORTFOLIO**

**Schedule of Investments March 31, 2026 (Unaudited) (Continued)** <br>

------

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE** |
| **COMMON STOCKS—91.7% (CONT.)** | **COMMON STOCKS—91.7% (CONT.)** | **COMMON STOCKS—91.7% (CONT.)** |
| **INTERACTIVE MEDIA & SERVICES—12.0% (CONT.)** | **INTERACTIVE MEDIA & SERVICES—12.0% (CONT.)** | **INTERACTIVE MEDIA & SERVICES—12.0% (CONT.)** |
| Meta Platforms, Inc., Cl. A | 30434 | **$** 17412205 |
|  |  | **46148692** |
| **INTERNET SERVICES & INFRASTRUCTURE—2.0%** | **INTERNET SERVICES & INFRASTRUCTURE—2.0%** | **INTERNET SERVICES & INFRASTRUCTURE—2.0%** |
| Cloudflare, Inc., Cl. A<sup>\*</sup>  | 28232 | 5825391 |
| MongoDB, Inc., Cl. A<sup>\*</sup>  | 3899 | 954358 |
| Shopify, Inc., Cl. A<sup>\*</sup>  | 8174 | 969600 |
|  |  | **7749349** |
| **MOVIES & ENTERTAINMENT—5.4%** | **MOVIES & ENTERTAINMENT—5.4%** | **MOVIES & ENTERTAINMENT—5.4%** |
| Netflix, Inc.<sup>\*</sup>  | 133508 | 12836794 |
| Spotify Technology SA<sup>\*</sup>  | 16585 | 8042233 |
|  |  | **20879027** |
| **PHARMACEUTICALS—3.5%** | **PHARMACEUTICALS—3.5%** | **PHARMACEUTICALS—3.5%** |
| AstraZeneca PLC | 9784 | 1929601 |
| Eli Lilly & Co. | 12333 | 11343523 |
|  |  | **13273124** |
| **SEMICONDUCTOR MATERIALS & EQUIPMENT—2.0%** | **SEMICONDUCTOR MATERIALS & EQUIPMENT—2.0%** | **SEMICONDUCTOR MATERIALS & EQUIPMENT—2.0%** |
| ASML Holding NV ADR | 2903 | 3834370 |
| Lam Research Corp. | 18140 | 3875792 |
|  |  | **7710162** |
| **SEMICONDUCTORS—14.8%** | **SEMICONDUCTORS—14.8%** | **SEMICONDUCTORS—14.8%** |
| Astera Labs, Inc.<sup>\*</sup>  | 26792 | 2936403 |
| Broadcom, Inc. | 37257 | 11531414 |
| NVIDIA Corp. | 208709 | 36398850 |
| Taiwan Semiconductor Manufacturing Co., Ltd. ADR | 17273 | 5837410 |
|  |  | **56704077** |
| **SYSTEMS SOFTWARE—11.1%** | **SYSTEMS SOFTWARE—11.1%** | **SYSTEMS SOFTWARE—11.1%** |
| Crowdstrike Holdings, Inc., Cl. A<sup>\*</sup>  | 7332 | 2862486 |
| Microsoft Corp. | 51489 | 19059683 |
| Nebius Group NV, Cl. A<sup>\*</sup>  | 197691 | 20512418 |
|  |  | **42434587** |
| **TECHNOLOGY HARDWARE STORAGE & PERIPHERALS—8.9%** | **TECHNOLOGY HARDWARE STORAGE & PERIPHERALS—8.9%** | **TECHNOLOGY HARDWARE STORAGE & PERIPHERALS—8.9%** |
| Apple, Inc. | 60301 | 15303791 |
| Western Digital Corp. | 69321 | 18750637 |
|  |  | **34054428** |
| **TRADING COMPANIES & DISTRIBUTORS—1.0%** | **TRADING COMPANIES & DISTRIBUTORS—1.0%** | **TRADING COMPANIES & DISTRIBUTORS—1.0%** |
| QXO, Inc.<sup>\*</sup>  | 197480 | **3835062** |
| &nbsp;&nbsp;&nbsp; **TOTAL COMMON STOCKS** <br>(Cost $206,786,102) |  | **351671173** |

---

*See Notes to Financial Statements.*

------

**THE ALGER PORTFOLIOS \| ALGER LARGE CAP GROWTH PORTFOLIO**

**Schedule of Investments March 31, 2026 (Unaudited) (Continued)** <br>

------

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE** |
| **EXCHANGE TRADED FUNDS—2.9%** | **EXCHANGE TRADED FUNDS—2.9%** | **EXCHANGE TRADED FUNDS—2.9%** |
| Alger 35 ETF<sup>(a),\*</sup>  | 353188 | **$11079508** |
| &nbsp;&nbsp;&nbsp; (Cost $6,792,657) |  | **11079508** |
| **MUTUAL FUNDS—2.6%** | **MUTUAL FUNDS—2.6%** | **MUTUAL FUNDS—2.6%** |
| Alger 35 Fund, Cl. Z<sup>(a),\*</sup>  | 559471 | **9980968** |
| &nbsp;&nbsp;&nbsp; (Cost $7,604,417) |  | **9980968** |
| **PREFERRED STOCKS—3.5%** | **PREFERRED STOCKS—3.5%** | **PREFERRED STOCKS—3.5%** |
| **APPLICATION SOFTWARE—3.5%** | **APPLICATION SOFTWARE—3.5%** | **APPLICATION SOFTWARE—3.5%** |
| OpenAI Group, PBC Series C<sup>(b),\*,@</sup>  | 2966 | 2039679 |
| SB Technology, Inc., Series E<sup>(b),\*,@</sup>  | 315833 | 11366830 |
| &nbsp;&nbsp;&nbsp; **TOTAL PREFERRED STOCKS** <br>(Cost $7,475,165) |  | **13406509** |
| **SPECIAL PURPOSE VEHICLES—0.1%** | **SPECIAL PURPOSE VEHICLES—0.1%** | **SPECIAL PURPOSE VEHICLES—0.1%** |
| **APPLICATION SOFTWARE—0.1%** | **APPLICATION SOFTWARE—0.1%** | **APPLICATION SOFTWARE—0.1%** |
| 2026 VDC LP<sup>(b),\*,@</sup>  |  | **408231** |
| &nbsp;&nbsp;&nbsp; **TOTAL SPECIAL PURPOSE VEHICLES** <br>(Cost $413,667) |  | **408231** |
| &nbsp;&nbsp;&nbsp; **Total Investments** <br>**(Cost $229,072,008)** | 100.8% | **$386546389** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Affiliated Securities (Cost $14,397,074) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21060476 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unaffiliated Securities (Cost $214,674,934) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 365485913 |
| Liabilities in Excess of Other Assets | (0.8)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2951367) |
| **NET ASSETS** | 100.0% | **$383595022** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

*ADR* *American Depositary Receipts* <br> *ETF* *Exchange-Traded Fund*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| *(a)* | *Deemed an affiliate of the Portfolio in accordance with Section 2(a)(3) of the Investment Company Act of 1940. See* <br> *Note 4 - Affiliated Securities.*<br>|
| *(b)* | *Security is valued in good faith at fair value determined using significant unobservable inputs pursuant to procedures* <br> *approved by the Board of Trustees.*<br>|
| *\** | *Non-income producing security.* |
| *@* | *Restricted security - Investment in security not registered under the Securities Act of 1933. Sales or transfers of the* <br> *investment may be restricted only to qualified buyers.*<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Security* | *Acquisition* <br>*Date(s)*<br>| *Acquisition* <br>*Cost*<br>| *Market* <br>*Value*<br>| *% of net assets* <br>*as of* <br>*3/31/2026*<br>|
| *2026 VDC LP* | *3/2/26-3/31/26* | &nbsp;&nbsp; $*413667* | $*408231* | *0.1%* |
| *OpenAI Group, PBC Series C* | *3/31/26* | *2039679* | *2039679* | *0.5%* |
| *SB Technology, Inc., Series E* | *10/23/24* | *5435486* | *11366830* | *3.0%* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total |  | $7888832 | $13814740 | 3.6% |

---

*See Notes to Financial Statements.*

------

**THE ALGER PORTFOLIOS \| ALGER GROWTH & INCOME PORTFOLIO**

**Schedule of Investments March 31, 2026 (Unaudited)** <br>

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE** |
| **COMMON STOCKS—96.5%** | **COMMON STOCKS—96.5%** | **COMMON STOCKS—96.5%** |
| **AEROSPACE & DEFENSE—0.7%** | **AEROSPACE & DEFENSE—0.7%** | **AEROSPACE & DEFENSE—0.7%** |
| TransDigm Group, Inc. | 279 | **$323350** |
| **APPAREL RETAIL—0.4%** | **APPAREL RETAIL—0.4%** | **APPAREL RETAIL—0.4%** |
| Gap, Inc. | 7180 | **173756** |
| **APPLICATION SOFTWARE—0.3%** | **APPLICATION SOFTWARE—0.3%** | **APPLICATION SOFTWARE—0.3%** |
| Adobe, Inc.<sup>\*</sup>  | 638 | **155085** |
| **ASSET MANAGEMENT & CUSTODY BANKS—2.1%** | **ASSET MANAGEMENT & CUSTODY BANKS—2.1%** | **ASSET MANAGEMENT & CUSTODY BANKS—2.1%** |
| Blackrock, Inc. | 601 | 577987 |
| Blackstone, Inc. | 3314 | 381077 |
|  |  | **959064** |
| **AUTOMOBILE MANUFACTURERS—0.4%** | **AUTOMOBILE MANUFACTURERS—0.4%** | **AUTOMOBILE MANUFACTURERS—0.4%** |
| Ferrari NV | 478 | **161779** |
| **BIOTECHNOLOGY—2.5%** | **BIOTECHNOLOGY—2.5%** | **BIOTECHNOLOGY—2.5%** |
| AbbVie, Inc. | 3126 | 679874 |
| Amgen, Inc. | 767 | 269869 |
| Gilead Sciences, Inc. | 1301 | 181320 |
|  |  | **1131063** |
| **BROADLINE RETAIL—2.7%** | **BROADLINE RETAIL—2.7%** | **BROADLINE RETAIL—2.7%** |
| Amazon.com, Inc.<sup>\*</sup>  | 5970 | **1243372** |
| **BUILDING PRODUCTS—0.7%** | **BUILDING PRODUCTS—0.7%** | **BUILDING PRODUCTS—0.7%** |
| Johnson Controls International PLC | 2439 | **319387** |
| **COMMUNICATIONS EQUIPMENT—0.9%** | **COMMUNICATIONS EQUIPMENT—0.9%** | **COMMUNICATIONS EQUIPMENT—0.9%** |
| Cisco Systems, Inc. | 5546 | **430314** |
| **COMPUTER & ELECTRONICS RETAIL—0.3%** | **COMPUTER & ELECTRONICS RETAIL—0.3%** | **COMPUTER & ELECTRONICS RETAIL—0.3%** |
| Best Buy Co., Inc. | 1806 | **115945** |
| **CONSUMER ELECTRONICS—0.6%** | **CONSUMER ELECTRONICS—0.6%** | **CONSUMER ELECTRONICS—0.6%** |
| Garmin Ltd. | 1169 | **271220** |
| **CONSUMER STAPLES MERCHANDISE RETAIL—1.5%** | **CONSUMER STAPLES MERCHANDISE RETAIL—1.5%** | **CONSUMER STAPLES MERCHANDISE RETAIL—1.5%** |
| Walmart, Inc. | 5627 | **699323** |
| **COPPER—0.9%** | **COPPER—0.9%** | **COPPER—0.9%** |
| Southern Copper Corp. | 2403 | **413460** |
| **DIVERSIFIED BANKS—5.3%** | **DIVERSIFIED BANKS—5.3%** | **DIVERSIFIED BANKS—5.3%** |
| Bank of America Corp. | 10324 | 503295 |
| Fifth Third Bancorp | 4994 | 232021 |
| JPMorgan Chase & Co. | 5769 | 1697009 |
|  |  | **2432325** |
| **ELECTRIC UTILITIES—0.6%** | **ELECTRIC UTILITIES—0.6%** | **ELECTRIC UTILITIES—0.6%** |
| NextEra Energy, Inc. | 3095 | **287464** |
| **ELECTRICAL COMPONENTS & EQUIPMENT—1.6%** | **ELECTRICAL COMPONENTS & EQUIPMENT—1.6%** | **ELECTRICAL COMPONENTS & EQUIPMENT—1.6%** |
| Eaton Corp. PLC | 2080 | **743953** |

---

*See Notes to Financial Statements.*

------

**THE ALGER PORTFOLIOS \| ALGER GROWTH & INCOME PORTFOLIO**

**Schedule of Investments March 31, 2026 (Unaudited) (Continued)** <br>

------

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE** |
| **COMMON STOCKS—96.5% (CONT.)** | **COMMON STOCKS—96.5% (CONT.)** | **COMMON STOCKS—96.5% (CONT.)** |
| **ELECTRONIC COMPONENTS—1.1%** | **ELECTRONIC COMPONENTS—1.1%** | **ELECTRONIC COMPONENTS—1.1%** |
| Corning, Inc. | 3671 | **$499146** |
| **FINANCIAL EXCHANGES & DATA—1.0%** | **FINANCIAL EXCHANGES & DATA—1.0%** | **FINANCIAL EXCHANGES & DATA—1.0%** |
| CME Group, Inc., Cl. A | 1522 | **449523** |
| **FOOD DISTRIBUTORS—0.3%** | **FOOD DISTRIBUTORS—0.3%** | **FOOD DISTRIBUTORS—0.3%** |
| Sysco Corp. | 2193 | **156427** |
| **HEALTH CARE DISTRIBUTORS—0.9%** | **HEALTH CARE DISTRIBUTORS—0.9%** | **HEALTH CARE DISTRIBUTORS—0.9%** |
| Cardinal Health, Inc. | 1944 | **410787** |
| **HEALTHCARE EQUIPMENT—0.9%** | **HEALTHCARE EQUIPMENT—0.9%** | **HEALTHCARE EQUIPMENT—0.9%** |
| Abbott Laboratories | 1755 | 180186 |
| Medtronic PLC | 2426 | 210213 |
|  |  | **390399** |
| **HOME IMPROVEMENT RETAIL—1.4%** | **HOME IMPROVEMENT RETAIL—1.4%** | **HOME IMPROVEMENT RETAIL—1.4%** |
| The Home Depot, Inc. | 1996 | **656464** |
| **HOUSEHOLD PRODUCTS—1.0%** | **HOUSEHOLD PRODUCTS—1.0%** | **HOUSEHOLD PRODUCTS—1.0%** |
| The Procter & Gamble Co. | 3200 | **462208** |
| **INDUSTRIAL CONGLOMERATES—1.2%** | **INDUSTRIAL CONGLOMERATES—1.2%** | **INDUSTRIAL CONGLOMERATES—1.2%** |
| Honeywell International, Inc. | 2402 | **542924** |
| **INDUSTRIAL GASES—0.7%** | **INDUSTRIAL GASES—0.7%** | **INDUSTRIAL GASES—0.7%** |
| Air Products & Chemicals, Inc. | 1083 | **314601** |
| **INTEGRATED OIL & GAS—4.6%** | **INTEGRATED OIL & GAS—4.6%** | **INTEGRATED OIL & GAS—4.6%** |
| Chevron Corp. | 3402 | 703874 |
| Exxon Mobil Corp. | 5898 | 1000654 |
| TotalEnergies SE | 4466 | 406317 |
|  |  | **2110845** |
| **INTEGRATED TELECOMMUNICATION SERVICES—1.3%** | **INTEGRATED TELECOMMUNICATION SERVICES—1.3%** | **INTEGRATED TELECOMMUNICATION SERVICES—1.3%** |
| Comcast Corp., Cl. A | 7596 | 218081 |
| Verizon Communications, Inc. | 7543 | 378659 |
|  |  | **596740** |
| **INTERACTIVE MEDIA & SERVICES—10.2%** | **INTERACTIVE MEDIA & SERVICES—10.2%** | **INTERACTIVE MEDIA & SERVICES—10.2%** |
| Alphabet, Inc., Cl. A | 7559 | 2173666 |
| Alphabet, Inc., Cl. C | 5775 | 1656617 |
| Meta Platforms, Inc., Cl. A | 1463 | 837026 |
|  |  | **4667309** |
| **INVESTMENT BANKING & BROKERAGE—2.8%** | **INVESTMENT BANKING & BROKERAGE—2.8%** | **INVESTMENT BANKING & BROKERAGE—2.8%** |
| Morgan Stanley | 7733 | **1272620** |
| **IT CONSULTING & OTHER SERVICES—0.6%** | **IT CONSULTING & OTHER SERVICES—0.6%** | **IT CONSULTING & OTHER SERVICES—0.6%** |
| Accenture PLC, Cl. A | 583 | 115603 |
| International Business Machines Corp. | 604 | 146404 |
|  |  | **262007** |

---

*See Notes to Financial Statements.*

------

**THE ALGER PORTFOLIOS \| ALGER GROWTH & INCOME PORTFOLIO**

**Schedule of Investments March 31, 2026 (Unaudited) (Continued)** <br>

------

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE** |
| **COMMON STOCKS—96.5% (CONT.)** | **COMMON STOCKS—96.5% (CONT.)** | **COMMON STOCKS—96.5% (CONT.)** |
| **MANAGED HEALTHCARE—0.5%** | **MANAGED HEALTHCARE—0.5%** | **MANAGED HEALTHCARE—0.5%** |
| UnitedHealth Group, Inc. | 912 | **$246778** |
| **MULTI-UTILITIES—1.1%** | **MULTI-UTILITIES—1.1%** | **MULTI-UTILITIES—1.1%** |
| Consolidated Edison, Inc. | 1927 | 218098 |
| Sempra | 2782 | 270327 |
|  |  | **488425** |
| **OIL & GAS STORAGE & TRANSPORTATION—0.5%** | **OIL & GAS STORAGE & TRANSPORTATION—0.5%** | **OIL & GAS STORAGE & TRANSPORTATION—0.5%** |
| ONEOK, Inc. | 2482 | **224348** |
| **OTHER SPECIALTY RETAIL—0.2%** | **OTHER SPECIALTY RETAIL—0.2%** | **OTHER SPECIALTY RETAIL—0.2%** |
| Dick's Sporting Goods, Inc. | 492 | **97559** |
| **PHARMACEUTICALS—5.4%** | **PHARMACEUTICALS—5.4%** | **PHARMACEUTICALS—5.4%** |
| AstraZeneca PLC | 1449 | 285673 |
| Bristol-Myers Squibb Co. | 3646 | 221130 |
| Eli Lilly & Co. | 471 | 433212 |
| Johnson & Johnson | 3272 | 799808 |
| Merck & Co., Inc. | 2302 | 276907 |
| Novartis AG ADR | 1701 | 259828 |
| Pfizer, Inc. | 6356 | 178476 |
|  |  | **2455034** |
| **PROPERTY & CASUALTY INSURANCE—0.7%** | **PROPERTY & CASUALTY INSURANCE—0.7%** | **PROPERTY & CASUALTY INSURANCE—0.7%** |
| The Hartford Insurance Group, Inc. | 2201 | **297641** |
| **RAIL TRANSPORTATION—0.8%** | **RAIL TRANSPORTATION—0.8%** | **RAIL TRANSPORTATION—0.8%** |
| Union Pacific Corp. | 1436 | **348402** |
| **RESTAURANTS—1.2%** | **RESTAURANTS—1.2%** | **RESTAURANTS—1.2%** |
| McDonald's Corp. | 1002 | 311411 |
| Starbucks Corp. | 2588 | 231859 |
|  |  | **543270** |
| **SEMICONDUCTOR MATERIALS & EQUIPMENT—5.7%** | **SEMICONDUCTOR MATERIALS & EQUIPMENT—5.7%** | **SEMICONDUCTOR MATERIALS & EQUIPMENT—5.7%** |
| KLA Corp. | 1757 | **2587024** |
| **SEMICONDUCTORS—9.4%** | **SEMICONDUCTORS—9.4%** | **SEMICONDUCTORS—9.4%** |
| Broadcom, Inc. | 9537 | 2951797 |
| QUALCOMM, Inc. | 3778 | 486531 |
| Taiwan Semiconductor Manufacturing Co., Ltd. ADR | 2552 | 862448 |
|  |  | **4300776** |
| **SOFT DRINKS & NON-ALCOHOLIC BEVERAGES—1.8%** | **SOFT DRINKS & NON-ALCOHOLIC BEVERAGES—1.8%** | **SOFT DRINKS & NON-ALCOHOLIC BEVERAGES—1.8%** |
| PepsiCo, Inc. | 2523 | 391797 |
| The Coca-Cola Co. | 5566 | 423294 |
|  |  | **815091** |
| **SPECIALTY CHEMICALS—0.8%** | **SPECIALTY CHEMICALS—0.8%** | **SPECIALTY CHEMICALS—0.8%** |
| DuPont de Nemours, Inc. | 8171 | **374232** |

---

*See Notes to Financial Statements.*

------

**THE ALGER PORTFOLIOS \| ALGER GROWTH & INCOME PORTFOLIO**

**Schedule of Investments March 31, 2026 (Unaudited) (Continued)** <br>

------

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE** |
| **COMMON STOCKS—96.5% (CONT.)** | **COMMON STOCKS—96.5% (CONT.)** | **COMMON STOCKS—96.5% (CONT.)** |
| **SYSTEMS SOFTWARE—7.4%** | **SYSTEMS SOFTWARE—7.4%** | **SYSTEMS SOFTWARE—7.4%** |
| Microsoft Corp. | 8608 | **$** 3186423 |
| Oracle Corp. | 1277 | 187860 |
|  |  | **3374283** |
| **TECHNOLOGY HARDWARE STORAGE & PERIPHERALS—8.1%** | **TECHNOLOGY HARDWARE STORAGE & PERIPHERALS—8.1%** | **TECHNOLOGY HARDWARE STORAGE & PERIPHERALS—8.1%** |
| Apple, Inc. | 13182 | 3345460 |
| Dell Technologies, Inc., Cl. C | 2123 | 348448 |
|  |  | **3693908** |
| **TOBACCO—1.4%** | **TOBACCO—1.4%** | **TOBACCO—1.4%** |
| Altria Group, Inc. | 4688 | 309361 |
| Philip Morris International, Inc. | 1906 | 315138 |
|  |  | **624499** |
| **TRADING COMPANIES & DISTRIBUTORS—0.6%** | **TRADING COMPANIES & DISTRIBUTORS—0.6%** | **TRADING COMPANIES & DISTRIBUTORS—0.6%** |
| Ferguson Enterprises, Inc. | 1210 | **282245** |
| **TRANSACTION & PAYMENT PROCESSING SERVICES—1.4%** | **TRANSACTION & PAYMENT PROCESSING SERVICES—1.4%** | **TRANSACTION & PAYMENT PROCESSING SERVICES—1.4%** |
| Visa, Inc., Cl. A | 2117 | **639842** |
| &nbsp;&nbsp;&nbsp; **TOTAL COMMON STOCKS** <br>(Cost $11,858,784) |  | **44046217** |
| **MASTER LIMITED PARTNERSHIPS—0.4%** | **MASTER LIMITED PARTNERSHIPS—0.4%** | **MASTER LIMITED PARTNERSHIPS—0.4%** |
| **OIL & GAS STORAGE & TRANSPORTATION—0.4%** | **OIL & GAS STORAGE & TRANSPORTATION—0.4%** | **OIL & GAS STORAGE & TRANSPORTATION—0.4%** |
| Cheniere Energy Partners LP | 2888 | **186652** |
| &nbsp;&nbsp;&nbsp; (Cost $76,588) |  | **186652** |
| **REAL ESTATE INVESTMENT TRUSTS—3.2%** | **REAL ESTATE INVESTMENT TRUSTS—3.2%** | **REAL ESTATE INVESTMENT TRUSTS—3.2%** |
| **HEALTH CARE—1.1%** | **HEALTH CARE—1.1%** | **HEALTH CARE—1.1%** |
| Welltower, Inc. | 2640 | **521954** |
| **INDUSTRIAL—0.4%** | **INDUSTRIAL—0.4%** | **INDUSTRIAL—0.4%** |
| Prologis, Inc. | 1199 | **158484** |
| **RETAIL—0.8%** | **RETAIL—0.8%** | **RETAIL—0.8%** |
| Simon Property Group, Inc. | 1876 | **349930** |
| **SPECIALIZED—0.5%** | **SPECIALIZED—0.5%** | **SPECIALIZED—0.5%** |
| Lamar Advertising Co., Cl. A | 1911 | **242047** |

---

*See Notes to Financial Statements.*

------

**THE ALGER PORTFOLIOS \| ALGER GROWTH & INCOME PORTFOLIO**

**Schedule of Investments March 31, 2026 (Unaudited) (Continued)** <br>

------

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE** |
| **REAL ESTATE INVESTMENT TRUSTS—3.2% (CONT.)** | **REAL ESTATE INVESTMENT TRUSTS—3.2% (CONT.)** | **REAL ESTATE INVESTMENT TRUSTS—3.2% (CONT.)** |
| **TELECOM TOWER—0.4%** | **TELECOM TOWER—0.4%** | **TELECOM TOWER—0.4%** |
| Crown Castle, Inc. | 2202 | **$179045** |
| &nbsp;&nbsp;&nbsp; **TOTAL REAL ESTATE INVESTMENT TRUSTS** <br>(Cost $774,490) |  | **1451460** |
| &nbsp;&nbsp;&nbsp; **Total Investments** <br>**(Cost $12,709,862)** | 100.1% | **$45684329** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unaffiliated Securities (Cost $12,709,862) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 45684329 |
| Liabilities in Excess of Other Assets | (0.1)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (44369) |
| **NET ASSETS** | 100.0% | **$45639960** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

*ADR* *American Depositary Receipts*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

*\** *Non-income producing security.*

*See Notes to Financial Statements.*

------

**THE ALGER PORTFOLIOS \| ALGER MID CAP GROWTH PORTFOLIO**

**Schedule of Investments March 31, 2026 (Unaudited)** <br>

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE** |
| **COMMON STOCKS—95.2%** | **COMMON STOCKS—95.2%** | **COMMON STOCKS—95.2%** |
| **AEROSPACE & DEFENSE—8.6%** | **AEROSPACE & DEFENSE—8.6%** | **AEROSPACE & DEFENSE—8.6%** |
| Axon Enterprise, Inc.<sup>\*</sup>  | 4283 | **$** 1818947 |
| FTAI Aviation Ltd. | 13702 | 3356990 |
| HEICO Corp. | 6997 | 1918578 |
| Howmet Aerospace, Inc. | 21809 | 5026102 |
|  |  | **12120617** |
| **APPAREL ACCESSORIES & LUXURY GOODS—0.6%** | **APPAREL ACCESSORIES & LUXURY GOODS—0.6%** | **APPAREL ACCESSORIES & LUXURY GOODS—0.6%** |
| lululemon athletica, Inc.<sup>\*</sup>  | 5537 | **847715** |
| **APPAREL RETAIL—2.1%** | **APPAREL RETAIL—2.1%** | **APPAREL RETAIL—2.1%** |
| Burlington Stores, Inc.<sup>\*</sup>  | 9076 | **2953149** |
| **APPLICATION SOFTWARE—2.8%** | **APPLICATION SOFTWARE—2.8%** | **APPLICATION SOFTWARE—2.8%** |
| Guidewire Software, Inc.<sup>\*</sup>  | 9382 | 1403172 |
| Procore Technologies, Inc.<sup>\*</sup>  | 9701 | 552957 |
| The Descartes Systems Group, Inc.<sup>\*</sup>  | 27726 | 1985924 |
|  |  | **3942053** |
| **ASSET MANAGEMENT & CUSTODY BANKS—0.5%** | **ASSET MANAGEMENT & CUSTODY BANKS—0.5%** | **ASSET MANAGEMENT & CUSTODY BANKS—0.5%** |
| Ares Management Corp., Cl. A | 5095 | 555865 |
| Blue Owl Capital, Inc., Cl. A | 16739 | 152827 |
|  |  | **708692** |
| **AUTOMOTIVE RETAIL—4.3%** | **AUTOMOTIVE RETAIL—4.3%** | **AUTOMOTIVE RETAIL—4.3%** |
| Carvana Co.<sup>\*</sup>  | 7379 | 2319810 |
| O'Reilly Automotive, Inc.<sup>\*</sup>  | 39543 | 3650214 |
|  |  | **5970024** |
| **BIOTECHNOLOGY—5.7%** | **BIOTECHNOLOGY—5.7%** | **BIOTECHNOLOGY—5.7%** |
| Abivax SA ADR<sup>\*</sup>  | 12868 | 1432852 |
| Arrowhead Pharmaceuticals, Inc.<sup>\*</sup>  | 25248 | 1583050 |
| Cogent Biosciences, Inc.<sup>\*</sup>  | 11546 | 444406 |
| Natera, Inc.<sup>\*</sup>  | 14999 | 2999650 |
| Revolution Medicines, Inc.<sup>\*</sup>  | 4161 | 404657 |
| Vaxcyte, Inc.<sup>\*</sup>  | 20250 | 1176727 |
|  |  | **8041342** |
| **CARGO GROUND TRANSPORTATION—1.1%** | **CARGO GROUND TRANSPORTATION—1.1%** | **CARGO GROUND TRANSPORTATION—1.1%** |
| Saia, Inc.<sup>\*</sup>  | 4231 | **1486266** |
| **COMMERCIAL & RESIDENTIAL MORTGAGE FINANCE—1.1%** | **COMMERCIAL & RESIDENTIAL MORTGAGE FINANCE—1.1%** | **COMMERCIAL & RESIDENTIAL MORTGAGE FINANCE—1.1%** |
| Rocket Cos., Inc., Cl. A | 107914 | **1537774** |
| **CONSTRUCTION & ENGINEERING—3.1%** | **CONSTRUCTION & ENGINEERING—3.1%** | **CONSTRUCTION & ENGINEERING—3.1%** |
| Comfort Systems USA, Inc. | 3173 | **4375535** |
| **CONSTRUCTION MATERIALS—1.8%** | **CONSTRUCTION MATERIALS—1.8%** | **CONSTRUCTION MATERIALS—1.8%** |
| Martin Marietta Materials, Inc. | 4370 | **2572532** |
| **CONSUMER FINANCE—0.4%** | **CONSUMER FINANCE—0.4%** | **CONSUMER FINANCE—0.4%** |
| Figure Technology Solutions, Inc., Cl. A<sup>\*</sup>  | 16333 | **554505** |

---

*See Notes to Financial Statements.*

------

**THE ALGER PORTFOLIOS \| ALGER MID CAP GROWTH PORTFOLIO**

**Schedule of Investments March 31, 2026 (Unaudited) (Continued)** <br>

------

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE** |
| **COMMON STOCKS—95.2% (CONT.)** | **COMMON STOCKS—95.2% (CONT.)** | **COMMON STOCKS—95.2% (CONT.)** |
| **ELECTRICAL COMPONENTS & EQUIPMENT—3.4%** | **ELECTRICAL COMPONENTS & EQUIPMENT—3.4%** | **ELECTRICAL COMPONENTS & EQUIPMENT—3.4%** |
| Vertiv Holdings Co., Cl. A | 18843 | **$4721679** |
| **ELECTRONIC COMPONENTS—1.7%** | **ELECTRONIC COMPONENTS—1.7%** | **ELECTRONIC COMPONENTS—1.7%** |
| Amphenol Corp., Cl. A | 19342 | **2443862** |
| **ELECTRONIC EQUIPMENT & INSTRUMENTS—1.2%** | **ELECTRONIC EQUIPMENT & INSTRUMENTS—1.2%** | **ELECTRONIC EQUIPMENT & INSTRUMENTS—1.2%** |
| Novanta, Inc.<sup>\*</sup>  | 14514 | **1714248** |
| **ENVIRONMENTAL & FACILITIES SERVICES—4.2%** | **ENVIRONMENTAL & FACILITIES SERVICES—4.2%** | **ENVIRONMENTAL & FACILITIES SERVICES—4.2%** |
| GFL Environmental, Inc. | 141455 | **5901503** |
| **HEALTHCARE EQUIPMENT—1.5%** | **HEALTHCARE EQUIPMENT—1.5%** | **HEALTHCARE EQUIPMENT—1.5%** |
| IDEXX Laboratories, Inc.<sup>\*</sup>  | 3736 | **2099221** |
| **HEALTHCARE SERVICES—1.2%** | **HEALTHCARE SERVICES—1.2%** | **HEALTHCARE SERVICES—1.2%** |
| Guardant Health, Inc.<sup>\*</sup>  | 18763 | **1733138** |
| **HOMEBUILDING—1.1%** | **HOMEBUILDING—1.1%** | **HOMEBUILDING—1.1%** |
| NVR, Inc.<sup>\*</sup>  | 227 | **1495891** |
| **HOTELS RESORTS & CRUISE LINES—4.4%** | **HOTELS RESORTS & CRUISE LINES—4.4%** | **HOTELS RESORTS & CRUISE LINES—4.4%** |
| Hilton Worldwide Holdings, Inc. | 11921 | 3624938 |
| Viking Holdings Ltd.<sup>\*</sup>  | 35174 | 2584585 |
|  |  | **6209523** |
| **INDEPENDENT POWER PRODUCERS & ENERGY TRADERS—2.6%** | **INDEPENDENT POWER PRODUCERS & ENERGY TRADERS—2.6%** | **INDEPENDENT POWER PRODUCERS & ENERGY TRADERS—2.6%** |
| Talen Energy Corp.<sup>\*</sup>  | 5098 | 1627434 |
| Vistra Corp. | 13290 | 1997886 |
|  |  | **3625320** |
| **INDUSTRIAL MACHINERY & SUPPLIES & COMPONENTS—4.0%** | **INDUSTRIAL MACHINERY & SUPPLIES & COMPONENTS—4.0%** | **INDUSTRIAL MACHINERY & SUPPLIES & COMPONENTS—4.0%** |
| RBC Bearings, Inc.<sup>\*</sup>  | 10446 | **5673431** |
| **INSURANCE BROKERS—1.0%** | **INSURANCE BROKERS—1.0%** | **INSURANCE BROKERS—1.0%** |
| Ryan Specialty Holdings, Inc., Cl. A | 39821 | **1343561** |
| **INTERACTIVE HOME ENTERTAINMENT—0.7%** | **INTERACTIVE HOME ENTERTAINMENT—0.7%** | **INTERACTIVE HOME ENTERTAINMENT—0.7%** |
| Roblox Corp., Cl. A<sup>\*</sup>  | 16503 | **933410** |
| **INTERNET SERVICES & INFRASTRUCTURE—5.5%** | **INTERNET SERVICES & INFRASTRUCTURE—5.5%** | **INTERNET SERVICES & INFRASTRUCTURE—5.5%** |
| Cloudflare, Inc., Cl. A<sup>\*</sup>  | 23876 | 4926574 |
| MongoDB, Inc., Cl. A<sup>\*</sup>  | 4611 | 1128634 |
| Twilio, Inc., Cl. A<sup>\*</sup>  | 13588 | 1709642 |
|  |  | **7764850** |
| **INVESTMENT BANKING & BROKERAGE—0.6%** | **INVESTMENT BANKING & BROKERAGE—0.6%** | **INVESTMENT BANKING & BROKERAGE—0.6%** |
| Robinhood Markets, Inc., Cl. A<sup>\*</sup>  | 11686 | **809840** |
| **LIFE & HEALTH INSURANCE—0.7%** | **LIFE & HEALTH INSURANCE—0.7%** | **LIFE & HEALTH INSURANCE—0.7%** |
| Oscar Health, Inc., Cl. A<sup>\*</sup>  | 85140 | **976556** |
| **LIFE SCIENCES TOOLS & SERVICES—4.6%** | **LIFE SCIENCES TOOLS & SERVICES—4.6%** | **LIFE SCIENCES TOOLS & SERVICES—4.6%** |
| Repligen Corp.<sup>\*</sup>  | 29178 | 3437752 |
| West Pharmaceutical Services, Inc. | 12053 | 3020964 |
|  |  | **6458716** |

---

*See Notes to Financial Statements.*

------

**THE ALGER PORTFOLIOS \| ALGER MID CAP GROWTH PORTFOLIO**

**Schedule of Investments March 31, 2026 (Unaudited) (Continued)** <br>

------

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE** |
| **COMMON STOCKS—95.2% (CONT.)** | **COMMON STOCKS—95.2% (CONT.)** | **COMMON STOCKS—95.2% (CONT.)** |
| **MOVIES & ENTERTAINMENT—4.8%** | **MOVIES & ENTERTAINMENT—4.8%** | **MOVIES & ENTERTAINMENT—4.8%** |
| Spotify Technology SA<sup>\*</sup>  | 3342 | **$** 1620569 |
| TKO Group Holdings, Inc., Cl. A | 25362 | 5114247 |
|  |  | **6734816** |
| **OIL & GAS EXPLORATION & PRODUCTION—1.0%** | **OIL & GAS EXPLORATION & PRODUCTION—1.0%** | **OIL & GAS EXPLORATION & PRODUCTION—1.0%** |
| Diamondback Energy, Inc. | 6892 | **1363169** |
| **OIL & GAS STORAGE & TRANSPORTATION—1.0%** | **OIL & GAS STORAGE & TRANSPORTATION—1.0%** | **OIL & GAS STORAGE & TRANSPORTATION—1.0%** |
| Cheniere Energy, Inc. | 4777 | **1355521** |
| **PERSONAL CARE PRODUCTS—1.5%** | **PERSONAL CARE PRODUCTS—1.5%** | **PERSONAL CARE PRODUCTS—1.5%** |
| e.l.f. Beauty, Inc.<sup>\*</sup>  | 35384 | **2144624** |
| **PROPERTY & CASUALTY INSURANCE—1.9%** | **PROPERTY & CASUALTY INSURANCE—1.9%** | **PROPERTY & CASUALTY INSURANCE—1.9%** |
| Intact Financial Corp. | 14661 | **2656707** |
| **REAL ESTATE SERVICES—1.3%** | **REAL ESTATE SERVICES—1.3%** | **REAL ESTATE SERVICES—1.3%** |
| CBRE Group, Inc., Cl. A<sup>\*</sup>  | 13849 | **1875985** |
| **RESEARCH & CONSULTING SERVICES—1.6%** | **RESEARCH & CONSULTING SERVICES—1.6%** | **RESEARCH & CONSULTING SERVICES—1.6%** |
| Verisk Analytics, Inc. | 11539 | **2189525** |
| **RESTAURANTS—1.2%** | **RESTAURANTS—1.2%** | **RESTAURANTS—1.2%** |
| Chipotle Mexican Grill, Inc.<sup>\*</sup>  | 54369 | **1740352** |
| **SEMICONDUCTORS—3.2%** | **SEMICONDUCTORS—3.2%** | **SEMICONDUCTORS—3.2%** |
| Astera Labs, Inc.<sup>\*</sup>  | 14809 | 1623066 |
| Monolithic Power Systems, Inc. | 2553 | 2791323 |
|  |  | **4414389** |
| **SOFT DRINKS & NON-ALCOHOLIC BEVERAGES—1.8%** | **SOFT DRINKS & NON-ALCOHOLIC BEVERAGES—1.8%** | **SOFT DRINKS & NON-ALCOHOLIC BEVERAGES—1.8%** |
| Celsius Holdings, Inc.<sup>\*</sup>  | 71822 | **2548245** |
| **SYSTEMS SOFTWARE—2.2%** | **SYSTEMS SOFTWARE—2.2%** | **SYSTEMS SOFTWARE—2.2%** |
| Nebius Group NV, Cl. A<sup>\*</sup>  | 27769 | 2881312 |
| Rubrik, Inc., Cl. A<sup>\*</sup>  | 5388 | 263850 |
|  |  | **3145162** |
| **TRADING COMPANIES & DISTRIBUTORS—3.2%** | **TRADING COMPANIES & DISTRIBUTORS—3.2%** | **TRADING COMPANIES & DISTRIBUTORS—3.2%** |
| EquipmentShare.com, Inc., Cl. A<sup>\*</sup>  | 39873 | 812213 |
| QXO, Inc.<sup>\*</sup>  | 189221 | 3674672 |
|  |  | **4486885** |
| &nbsp;&nbsp;&nbsp; **TOTAL COMMON STOCKS** <br>(Cost $114,604,789) |  | **133670333** |
| **PREFERRED STOCKS—1.4%** | **PREFERRED STOCKS—1.4%** | **PREFERRED STOCKS—1.4%** |
| **APPLICATION SOFTWARE—0.9%** | **APPLICATION SOFTWARE—0.9%** | **APPLICATION SOFTWARE—0.9%** |
| SB Technology, Inc., Series E<sup>(a),\*,@</sup>  | 34722 | **1249645** |
| **INDUSTRIAL MACHINERY & SUPPLIES & COMPONENTS—0.5%** | **INDUSTRIAL MACHINERY & SUPPLIES & COMPONENTS—0.5%** | **INDUSTRIAL MACHINERY & SUPPLIES & COMPONENTS—0.5%** |
| Apptronik, Inc., Series A-X1<sup>(a),\*,@</sup>  | 8858 | 327455 |

---

*See Notes to Financial Statements.*

------

**THE ALGER PORTFOLIOS \| ALGER MID CAP GROWTH PORTFOLIO**

**Schedule of Investments March 31, 2026 (Unaudited) (Continued)** <br>

------

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE** |
| **PREFERRED STOCKS—1.4% (CONT.)** | **PREFERRED STOCKS—1.4% (CONT.)** | **PREFERRED STOCKS—1.4% (CONT.)** |
| **INDUSTRIAL MACHINERY & SUPPLIES & COMPONENTS—0.5% (CONT.)** | **INDUSTRIAL MACHINERY & SUPPLIES & COMPONENTS—0.5% (CONT.)** | **INDUSTRIAL MACHINERY & SUPPLIES & COMPONENTS—0.5% (CONT.)** |
| Figure AI, Inc., Series C<sup>(a),\*,@</sup>  | 1898 | **$** 370869 |
|  |  | **698324** |
| &nbsp;&nbsp;&nbsp; **TOTAL PREFERRED STOCKS** <br>(Cost $1,295,001) |  | **1947969** |
| **REAL ESTATE INVESTMENT TRUSTS—1.2%** | **REAL ESTATE INVESTMENT TRUSTS—1.2%** | **REAL ESTATE INVESTMENT TRUSTS—1.2%** |
| **HEALTH CARE—1.2%** | **HEALTH CARE—1.2%** | **HEALTH CARE—1.2%** |
| American Healthcare REIT, Inc. | 36806 | **1735771** |
| &nbsp;&nbsp;&nbsp; (Cost $1,898,214) |  | **1735771** |
| **RIGHTS—0.0%** | **RIGHTS—0.0%** | **RIGHTS—0.0%** |
| **BIOTECHNOLOGY—0.0%** | **BIOTECHNOLOGY—0.0%** | **BIOTECHNOLOGY—0.0%** |
| Tolero CDR<sup>(a),\*,@</sup>  | 425098 | **—** |
| &nbsp;&nbsp;&nbsp; (Cost $227,341) |  | **—** |
| **SPECIAL PURPOSE VEHICLES—0.7%** | **SPECIAL PURPOSE VEHICLES—0.7%** | **SPECIAL PURPOSE VEHICLES—0.7%** |
| **APPLICATION SOFTWARE—0.7%** | **APPLICATION SOFTWARE—0.7%** | **APPLICATION SOFTWARE—0.7%** |
| 2026 VDC LP<sup>(a),\*,@</sup>  |  | 76281 |
| Disruptive Technology Solutions LI, LLC<sup>(a),\*,@</sup>  |  | 818936 |
| &nbsp;&nbsp;&nbsp; (Cost $509,914) |  | **895217** |
| **WARRANTS—0.0%** | **WARRANTS—0.0%** | **WARRANTS—0.0%** |
| **ELECTRIC UTILITIES—0.0%** | **ELECTRIC UTILITIES—0.0%** | **ELECTRIC UTILITIES—0.0%** |
| Constellation Software, Inc., 3/31/40<sup>(a),\*</sup>  | 1318 | **—** |
| &nbsp;&nbsp;&nbsp; (Cost $0) |  | **—** |
| **SHORT-TERM SECURITIES—3.1%** | **SHORT-TERM SECURITIES—3.1%** | **SHORT-TERM SECURITIES—3.1%** |
| **MONEY MARKET FUNDS—3.1%** | **MONEY MARKET FUNDS—3.1%** | **MONEY MARKET FUNDS—3.1%** |
| &nbsp;&nbsp;&nbsp; Dreyfus Treasury Obligations Cash Management Fund, <br>Institutional Shares, 3.54%<sup>(b)</sup>  | 4392851 | **4392851** |
| &nbsp;&nbsp;&nbsp; (Cost $4,392,851) |  | **4392851** |
| &nbsp;&nbsp;&nbsp; **Total Investments** <br>**(Cost $122,928,110)** | 101.6% | **$142642141** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unaffiliated Securities (Cost $122,928,110) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 142642141 |
| Liabilities in Excess of Other Assets | (1.6)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2216656) |
| **NET ASSETS** | 100.0% | **$140425485** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

*ADR* *American Depositary Receipts* <br> *CDR* *Contingent Deferred Rights*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| *(a)* | *Security is valued in good faith at fair value determined using significant unobservable inputs pursuant to procedures* <br> *approved by the Board of Trustees.*<br>|
| *(b)* | *Rate shown reflects 7-day effective yield as of March 31, 2026.* |
| *\** | *Non-income producing security.* |
| *@* | *Restricted security - Investment in security not registered under the Securities Act of 1933. Sales or transfers of the* <br> *investment may be restricted only to qualified buyers.*<br>|

---

*See Notes to Financial Statements.*

------

**THE ALGER PORTFOLIOS \| ALGER MID CAP GROWTH PORTFOLIO**

**Schedule of Investments March 31, 2026 (Unaudited) (Continued)** <br>

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Security* | *Acquisition* <br>*Date(s)*<br>| *Acquisition* <br>*Cost*<br>| *Market* <br>*Value*<br>| *% of net assets* <br>*as of* <br>*3/31/2026*<br>|
| *2026 VDC LP* | *3/2/26-3/31/26* | &nbsp;&nbsp;&nbsp;&nbsp; $*77297* | $*76281* | *0.1%* |
| *Apptronik, Inc., Series A-X1* | *1/29/26* | *327455* | *327455* | *0.2%* |
| *Disruptive Technology Solutions LI, LLC* | *11/4/25* | *432617* | *818936* | *0.6%* |
| *Figure AI, Inc., Series C* | *11/18/25* | *369980* | *370869* | *0.3%* |
| *SB Technology, Inc., Series E* | *10/23/24* | *597566* | *1249645* | *0.9%* |
| *Tolero CDR* | *2/6/17* | *227341* | *—* | *0.0%* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total |  | $2032256 | $2843186 | 2.1% |

---

*See Notes to Financial Statements.*

------

**THE ALGER PORTFOLIOS \| ALGER SMALL CAP GROWTH PORTFOLIO**

**Schedule of Investments March 31, 2026 (Unaudited)** <br>

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE** |
| **COMMON STOCKS—94.7%** | **COMMON STOCKS—94.7%** | **COMMON STOCKS—94.7%** |
| **AEROSPACE & DEFENSE—8.4%** | **AEROSPACE & DEFENSE—8.4%** | **AEROSPACE & DEFENSE—8.4%** |
| AeroVironment, Inc.<sup>\*</sup>  | 4475 | **$** 819148 |
| Archer Aviation, Inc., Cl. A<sup>\*</sup>  | 64896 | 335512 |
| Astronics Corp.<sup>\*</sup>  | 8394 | 560132 |
| Bombardier, Inc., Cl. B<sup>\*</sup>  | 13796 | 2439862 |
| FTAI Aviation Ltd. | 11841 | 2901045 |
| Howmet Aerospace, Inc. | 3769 | 868604 |
| Karman Holdings, Inc.<sup>\*</sup>  | 11666 | 933863 |
| Loar Holdings, Inc.<sup>\*</sup>  | 15578 | 892464 |
| VSE Corp. | 6838 | 1260927 |
| York Space Systems, Inc.<sup>\*</sup>  | 599 | 13280 |
|  |  | **11024837** |
| **APPAREL RETAIL—4.7%** | **APPAREL RETAIL—4.7%** | **APPAREL RETAIL—4.7%** |
| Abercrombie & Fitch Co., Cl. A<sup>\*</sup>  | 5346 | 488464 |
| Aritzia, Inc.<sup>\*</sup>  | 42397 | 3459785 |
| Victoria's Secret & Co.<sup>\*</sup>  | 47408 | 2197835 |
|  |  | **6146084** |
| **APPLICATION SOFTWARE—9.2%** | **APPLICATION SOFTWARE—9.2%** | **APPLICATION SOFTWARE—9.2%** |
| BlackLine, Inc.<sup>\*</sup>  | 23074 | 853738 |
| Core Scientific, Inc.<sup>\*</sup>  | 19750 | 295460 |
| Guidewire Software, Inc.<sup>\*</sup>  | 14413 | 2155608 |
| InterDigital, Inc. | 6581 | 1987462 |
| Manhattan Associates, Inc.<sup>\*</sup>  | 12629 | 1681173 |
| nCino, Inc.<sup>\*</sup>  | 29023 | 434765 |
| PAR Technology Corp.<sup>\*</sup>  | 4898 | 65290 |
| Q2 Holdings, Inc.<sup>\*</sup>  | 27857 | 1317636 |
| Riot Platforms, Inc.<sup>\*</sup>  | 24522 | 303092 |
| SPS Commerce, Inc.<sup>\*</sup>  | 24641 | 1371765 |
| Terawulf, Inc.<sup>\*</sup>  | 78289 | 1129710 |
| Vertex, Inc., Cl. A<sup>\*</sup>  | 33353 | 396567 |
|  |  | **11992266** |
| **ASSET MANAGEMENT & CUSTODY BANKS—0.8%** | **ASSET MANAGEMENT & CUSTODY BANKS—0.8%** | **ASSET MANAGEMENT & CUSTODY BANKS—0.8%** |
| Galaxy Digital, Inc., Cl. A<sup>\*</sup>  | 36130 | 666599 |
| Hamilton Lane, Inc., Cl. A | 4226 | 420064 |
|  |  | **1086663** |
| **BIOTECHNOLOGY—17.5%** | **BIOTECHNOLOGY—17.5%** | **BIOTECHNOLOGY—17.5%** |
| Abivax SA ADR<sup>\*</sup>  | 19561 | 2178117 |
| Absci Corp.<sup>\*</sup>  | 339522 | 1018566 |
| Arrowhead Pharmaceuticals, Inc.<sup>\*</sup>  | 30978 | 1942320 |
| Bridgebio Pharma, Inc.<sup>\*</sup>  | 7645 | 567718 |
| CareDx, Inc.<sup>\*</sup>  | 46805 | 812535 |
| Centessa Pharmaceuticals PLC ADR<sup>\*</sup>  | 29578 | 1174838 |
| Cogent Biosciences, Inc.<sup>\*</sup>  | 21829 | 840198 |
| Dianthus Therapeutics, Inc.<sup>\*</sup>  | 1953 | 163896 |

---

*See Notes to Financial Statements.*

------

**THE ALGER PORTFOLIOS \| ALGER SMALL CAP GROWTH PORTFOLIO**

**Schedule of Investments March 31, 2026 (Unaudited) (Continued)** <br>

------

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE** |
| **COMMON STOCKS—94.7% (CONT.)** | **COMMON STOCKS—94.7% (CONT.)** | **COMMON STOCKS—94.7% (CONT.)** |
| **BIOTECHNOLOGY—17.5% (CONT.)** | **BIOTECHNOLOGY—17.5% (CONT.)** | **BIOTECHNOLOGY—17.5% (CONT.)** |
| Forte Biosciences, Inc.<sup>\*</sup>  | 128020 | **$** 3315718 |
| Insmed, Inc.<sup>\*</sup>  | 19288 | 3153974 |
| Natera, Inc.<sup>\*</sup>  | 12595 | 2518874 |
| Nuvalent, Inc., Cl. A<sup>\*</sup>  | 27129 | 2779366 |
| Palvella Therapeutics, Inc.<sup>\*</sup>  | 5769 | 719106 |
| Soleno Therapeutics, Inc.<sup>\*</sup>  | 9163 | 306777 |
| Twist Bioscience Corp.<sup>\*</sup>  | 26830 | 1274962 |
| uniQure NV<sup>\*</sup>  | 8495 | 138893 |
|  |  | **22905858** |
| **BUILDING PRODUCTS—2.5%** | **BUILDING PRODUCTS—2.5%** | **BUILDING PRODUCTS—2.5%** |
| CSW Industrials, Inc. | 7801 | 2032785 |
| Modine Manufacturing Co.<sup>\*</sup>  | 6003 | 1300910 |
|  |  | **3333695** |
| **CARGO GROUND TRANSPORTATION—0.5%** | **CARGO GROUND TRANSPORTATION—0.5%** | **CARGO GROUND TRANSPORTATION—0.5%** |
| Saia, Inc.<sup>\*</sup>  | 1962 | **689211** |
| **CONSTRUCTION & ENGINEERING—2.6%** | **CONSTRUCTION & ENGINEERING—2.6%** | **CONSTRUCTION & ENGINEERING—2.6%** |
| Construction Partners, Inc., Cl. A<sup>\*</sup>  | 2830 | 314470 |
| Tutor Perini Corp. | 39948 | 3083586 |
|  |  | **3398056** |
| **CONSUMER STAPLES MERCHANDISE RETAIL—2.0%** | **CONSUMER STAPLES MERCHANDISE RETAIL—2.0%** | **CONSUMER STAPLES MERCHANDISE RETAIL—2.0%** |
| BJ's Wholesale Club Holdings, Inc.<sup>\*</sup>  | 26037 | **2562562** |
| **EDUCATION SERVICES—0.9%** | **EDUCATION SERVICES—0.9%** | **EDUCATION SERVICES—0.9%** |
| Universal Technical Institute, Inc.<sup>\*</sup>  | 34116 | **1231588** |
| **ELECTRIC UTILITIES—0.5%** | **ELECTRIC UTILITIES—0.5%** | **ELECTRIC UTILITIES—0.5%** |
| IDACORP, Inc. | 4972 | **710847** |
| **ELECTRICAL COMPONENTS & EQUIPMENT—0.4%** | **ELECTRICAL COMPONENTS & EQUIPMENT—0.4%** | **ELECTRICAL COMPONENTS & EQUIPMENT—0.4%** |
| Enovix Corp.<sup>\*</sup>  | 110720 | **573530** |
| **ELECTRONIC MANUFACTURING SERVICES—1.4%** | **ELECTRONIC MANUFACTURING SERVICES—1.4%** | **ELECTRONIC MANUFACTURING SERVICES—1.4%** |
| Fabrinet<sup>\*</sup>  | 3391 | **1768474** |
| **ENVIRONMENTAL & FACILITIES SERVICES—0.3%** | **ENVIRONMENTAL & FACILITIES SERVICES—0.3%** | **ENVIRONMENTAL & FACILITIES SERVICES—0.3%** |
| Casella Waste Systems, Inc., Cl. A<sup>\*</sup>  | 5088 | **403682** |
| **FINANCIAL EXCHANGES & DATA—0.5%** | **FINANCIAL EXCHANGES & DATA—0.5%** | **FINANCIAL EXCHANGES & DATA—0.5%** |
| Gemini Space Station, Inc., Cl. A<sup>\*</sup>  | 850 | 3757 |
| MarketAxess Holdings, Inc. | 4259 | 702650 |
|  |  | **706407** |
| **HEALTHCARE EQUIPMENT—3.6%** | **HEALTHCARE EQUIPMENT—3.6%** | **HEALTHCARE EQUIPMENT—3.6%** |
| Glaukos Corp.<sup>\*</sup>  | 4133 | 444959 |
| Impulse Dynamics PLC, Series A<sup>(a),\*,@</sup>  | 1596061 | 60650 |
| Integer Holdings Corp.<sup>\*</sup>  | 5801 | 510488 |
| iRhythm Technologies, Inc.<sup>\*</sup>  | 11119 | 1312264 |
| Penumbra, Inc.<sup>\*</sup>  | 3724 | 1222850 |

---

*See Notes to Financial Statements.*

------

**THE ALGER PORTFOLIOS \| ALGER SMALL CAP GROWTH PORTFOLIO**

**Schedule of Investments March 31, 2026 (Unaudited) (Continued)** <br>

------

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE** |
| **COMMON STOCKS—94.7% (CONT.)** | **COMMON STOCKS—94.7% (CONT.)** | **COMMON STOCKS—94.7% (CONT.)** |
| **HEALTHCARE EQUIPMENT—3.6% (CONT.)** | **HEALTHCARE EQUIPMENT—3.6% (CONT.)** | **HEALTHCARE EQUIPMENT—3.6% (CONT.)** |
| TransMedics Group, Inc.<sup>\*</sup>  | 11668 | **$** 1159916 |
|  |  | **4711127** |
| **HEALTHCARE SERVICES—4.4%** | **HEALTHCARE SERVICES—4.4%** | **HEALTHCARE SERVICES—4.4%** |
| GeneDx Holdings Corp., Cl. A<sup>\*</sup>  | 35443 | 2276149 |
| Guardant Health, Inc.<sup>\*</sup>  | 37875 | 3498514 |
|  |  | **5774663** |
| **HEALTHCARE SUPPLIES—0.9%** | **HEALTHCARE SUPPLIES—0.9%** | **HEALTHCARE SUPPLIES—0.9%** |
| Lantheus Holdings, Inc.<sup>\*</sup>  | 9726 | 737717 |
| Neogen Corp.<sup>\*</sup>  | 53049 | 492825 |
|  |  | **1230542** |
| **HEALTHCARE TECHNOLOGY—0.6%** | **HEALTHCARE TECHNOLOGY—0.6%** | **HEALTHCARE TECHNOLOGY—0.6%** |
| HeartFlow, Inc.<sup>\*</sup>  | 32957 | **801844** |
| **HEAVY ELECTRICAL EQUIPMENT—1.3%** | **HEAVY ELECTRICAL EQUIPMENT—1.3%** | **HEAVY ELECTRICAL EQUIPMENT—1.3%** |
| Bloom Energy Corp., Cl. A<sup>\*</sup>  | 12090 | **1638074** |
| **INDUSTRIAL MACHINERY & SUPPLIES & COMPONENTS—6.3%** | **INDUSTRIAL MACHINERY & SUPPLIES & COMPONENTS—6.3%** | **INDUSTRIAL MACHINERY & SUPPLIES & COMPONENTS—6.3%** |
| Gates Industrial Corp. PLC<sup>\*</sup>  | 107105 | 2421644 |
| RBC Bearings, Inc.<sup>\*</sup>  | 10603 | 5758701 |
|  |  | **8180345** |
| **INTERACTIVE MEDIA & SERVICES—0.6%** | **INTERACTIVE MEDIA & SERVICES—0.6%** | **INTERACTIVE MEDIA & SERVICES—0.6%** |
| Reddit, Inc., Cl. A<sup>\*</sup>  | 5335 | **718358** |
| **INTERNET SERVICES & INFRASTRUCTURE—0.8%** | **INTERNET SERVICES & INFRASTRUCTURE—0.8%** | **INTERNET SERVICES & INFRASTRUCTURE—0.8%** |
| Whitefiber, Inc.<sup>\*</sup>  | 25700 | 306087 |
| Wix.com Ltd.<sup>\*</sup>  | 7469 | 672733 |
|  |  | **978820** |
| **INVESTMENT BANKING & BROKERAGE—0.4%** | **INVESTMENT BANKING & BROKERAGE—0.4%** | **INVESTMENT BANKING & BROKERAGE—0.4%** |
| Moelis & Co., Cl. A | 10075 | **574275** |
| **LEISURE FACILITIES—1.6%** | **LEISURE FACILITIES—1.6%** | **LEISURE FACILITIES—1.6%** |
| Life Time Group Holdings, Inc.<sup>\*</sup>  | 21769 | 586457 |
| Planet Fitness, Inc., Cl. A<sup>\*</sup>  | 20418 | 1518691 |
|  |  | **2105148** |
| **LIFE SCIENCES TOOLS & SERVICES—5.9%** | **LIFE SCIENCES TOOLS & SERVICES—5.9%** | **LIFE SCIENCES TOOLS & SERVICES—5.9%** |
| 10X Genomics, Inc., Cl. A<sup>\*</sup>  | 35741 | 758781 |
| Adaptive Biotechnologies Corp.<sup>\*</sup>  | 174425 | 2421019 |
| Bio-Techne Corp. | 27729 | 1449117 |
| CryoPort, Inc.<sup>\*</sup>  | 133790 | 1107781 |
| MaxCyte, Inc.<sup>\*</sup>  | 135576 | 95242 |
| Repligen Corp.<sup>\*</sup>  | 11780 | 1387920 |
| Tempus AI, Inc., Cl. A<sup>\*</sup>  | 10839 | 490140 |
|  |  | **7710000** |

---

*See Notes to Financial Statements.*

------

**THE ALGER PORTFOLIOS \| ALGER SMALL CAP GROWTH PORTFOLIO**

**Schedule of Investments March 31, 2026 (Unaudited) (Continued)** <br>

------

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE** |
| **COMMON STOCKS—94.7% (CONT.)** | **COMMON STOCKS—94.7% (CONT.)** | **COMMON STOCKS—94.7% (CONT.)** |
| **OIL & GAS EXPLORATION & PRODUCTION—3.3%** | **OIL & GAS EXPLORATION & PRODUCTION—3.3%** | **OIL & GAS EXPLORATION & PRODUCTION—3.3%** |
| Magnolia Oil & Gas Corp., Cl. A | 138742 | **$4380085** |
| **PASSENGER AIRLINES—1.4%** | **PASSENGER AIRLINES—1.4%** | **PASSENGER AIRLINES—1.4%** |
| Joby Aviation, Inc.<sup>\*</sup>  | 227131 | **1876102** |
| **PHARMACEUTICALS—0.1%** | **PHARMACEUTICALS—0.1%** | **PHARMACEUTICALS—0.1%** |
| Belite Bio, Inc. ADR<sup>\*</sup>  | 489 | **77966** |
| **RESEARCH & CONSULTING SERVICES—0.4%** | **RESEARCH & CONSULTING SERVICES—0.4%** | **RESEARCH & CONSULTING SERVICES—0.4%** |
| Planet Labs PBC, Cl. A<sup>\*</sup>  | 18375 | **513581** |
| **RESTAURANTS—1.6%** | **RESTAURANTS—1.6%** | **RESTAURANTS—1.6%** |
| Kura Sushi USA, Inc., Cl. A<sup>\*</sup>  | 8017 | 559506 |
| Shake Shack, Inc., Cl. A<sup>\*</sup>  | 17872 | 1581136 |
|  |  | **2140642** |
| **SEMICONDUCTORS—4.8%** | **SEMICONDUCTORS—4.8%** | **SEMICONDUCTORS—4.8%** |
| Astera Labs, Inc.<sup>\*</sup>  | 12910 | 1414936 |
| Credo Technology Group Holding, Ltd.<sup>\*</sup>  | 12635 | 1186047 |
| Impinj, Inc.<sup>\*</sup>  | 5691 | 584466 |
| Rambus, Inc.<sup>\*</sup>  | 22253 | 1914425 |
| Universal Display Corp. | 12336 | 1130718 |
|  |  | **6230592** |
| **SOFT DRINKS & NON-ALCOHOLIC BEVERAGES—0.3%** | **SOFT DRINKS & NON-ALCOHOLIC BEVERAGES—0.3%** | **SOFT DRINKS & NON-ALCOHOLIC BEVERAGES—0.3%** |
| Celsius Holdings, Inc.<sup>\*</sup>  | 12320 | **437114** |
| **SPECIALTY CHEMICALS—0.9%** | **SPECIALTY CHEMICALS—0.9%** | **SPECIALTY CHEMICALS—0.9%** |
| Balchem Corp. | 6949 | **1177716** |
| **SYSTEMS SOFTWARE—2.1%** | **SYSTEMS SOFTWARE—2.1%** | **SYSTEMS SOFTWARE—2.1%** |
| Nebius Group NV, Cl. A<sup>\*</sup>  | 26151 | 2713428 |
| Netskope, Inc., Cl. A<sup>\*</sup>  | 2646 | 22464 |
|  |  | **2735892** |
| **TECHNOLOGY HARDWARE STORAGE & PERIPHERALS—0.5%** | **TECHNOLOGY HARDWARE STORAGE & PERIPHERALS—0.5%** | **TECHNOLOGY HARDWARE STORAGE & PERIPHERALS—0.5%** |
| IonQ, Inc.<sup>\*</sup>  | 20506 | **591188** |
| **TRADING COMPANIES & DISTRIBUTORS—0.1%** | **TRADING COMPANIES & DISTRIBUTORS—0.1%** | **TRADING COMPANIES & DISTRIBUTORS—0.1%** |
| Xometry, Inc., Cl. A<sup>\*</sup>  | 4642 | **189579** |
| **TRANSACTION & PAYMENT PROCESSING SERVICES—0.6%** | **TRANSACTION & PAYMENT PROCESSING SERVICES—0.6%** | **TRANSACTION & PAYMENT PROCESSING SERVICES—0.6%** |
| Chime Financial, Inc., Cl. A<sup>\*</sup>  | 41609 | **779337** |
| &nbsp;&nbsp;&nbsp; **TOTAL COMMON STOCKS** <br>(Cost $90,756,174) |  | **124086750** |
| **PREFERRED STOCKS—1.2%** | **PREFERRED STOCKS—1.2%** | **PREFERRED STOCKS—1.2%** |
| **APPLICATION SOFTWARE—1.0%** | **APPLICATION SOFTWARE—1.0%** | **APPLICATION SOFTWARE—1.0%** |
| SB Technology, Inc., Series E<sup>(a),\*,@</sup>  | 37494 | **1349409** |

---

*See Notes to Financial Statements.*

------

**THE ALGER PORTFOLIOS \| ALGER SMALL CAP GROWTH PORTFOLIO**

**Schedule of Investments March 31, 2026 (Unaudited) (Continued)** <br>

------

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE** |
| **PREFERRED STOCKS—1.2% (CONT.)** | **PREFERRED STOCKS—1.2% (CONT.)** | **PREFERRED STOCKS—1.2% (CONT.)** |
| **HEALTHCARE EQUIPMENT—0.2%** | **HEALTHCARE EQUIPMENT—0.2%** | **HEALTHCARE EQUIPMENT—0.2%** |
| Impulse Dynamics PLC, Series F-3<sup>(a),\*,@</sup>  | 3724402 | **$212291** |
| &nbsp;&nbsp;&nbsp; **TOTAL PREFERRED STOCKS** <br>(Cost $840,121) |  | **1561700** |
| **RIGHTS—0.1%** | **RIGHTS—0.1%** | **RIGHTS—0.1%** |
| **BIOTECHNOLOGY—0.0%** | **BIOTECHNOLOGY—0.0%** | **BIOTECHNOLOGY—0.0%** |
| Mirati Therapeutics, Inc. CVR<sup>(a),\*,@</sup>  | 6941 | 8052 |
| Tolero CDR<sup>(a),\*,@</sup>  | 287830 |  |
|  |  | **8052** |
| **PHARMACEUTICALS—0.1%** | **PHARMACEUTICALS—0.1%** | **PHARMACEUTICALS—0.1%** |
| Fusion Pharmaceuticals, Inc. CVR<sup>(a),\*,@</sup>  | 45185 | **51511** |
| &nbsp;&nbsp;&nbsp; **TOTAL RIGHTS** <br>(Cost $155,594) |  | **59563** |
| **SPECIAL PURPOSE VEHICLES—1.1%** | **SPECIAL PURPOSE VEHICLES—1.1%** | **SPECIAL PURPOSE VEHICLES—1.1%** |
| **APPLICATION SOFTWARE—1.1%** | **APPLICATION SOFTWARE—1.1%** | **APPLICATION SOFTWARE—1.1%** |
| Disruptive Technology Solutions LI, LLC<sup>(a),\*,@</sup>  |  | **1458057** |
| &nbsp;&nbsp;&nbsp; **TOTAL SPECIAL PURPOSE VEHICLES** <br>(Cost $770,245) |  | **1458057** |
| **SHORT-TERM SECURITIES—2.6%** | **SHORT-TERM SECURITIES—2.6%** | **SHORT-TERM SECURITIES—2.6%** |
| **MONEY MARKET FUNDS—2.6%** | **MONEY MARKET FUNDS—2.6%** | **MONEY MARKET FUNDS—2.6%** |
| &nbsp;&nbsp;&nbsp; Dreyfus Treasury Obligations Cash Management Fund, <br>Institutional Shares, 3.54%<sup>(b)</sup>  | 3458742 | **3458742** |
| &nbsp;&nbsp;&nbsp; (Cost $3,458,742) |  | **3458742** |
| &nbsp;&nbsp;&nbsp; **Total Investments** <br>**(Cost $95,980,876)** | 99.7% | **$130624812** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unaffiliated Securities (Cost $95,980,876) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 130624812 |
| Other Assets in Excess of Liabilities | 0.3% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 355905 |
| **NET ASSETS** | 100.0% | **$130980717** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| *ADR* | *American Depositary Receipts* |
| *CDR* | *Contingent Deferred Rights* |
| *CVR* | *Contingent Value Rights* |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| *(a)* | *Security is valued in good faith at fair value determined using significant unobservable inputs pursuant to procedures* <br> *approved by the Board of Trustees.*<br>|
| *(b)* | *Rate shown reflects 7-day effective yield as of March 31, 2026.* |
| *\** | *Non-income producing security.* |
| *@* | *Restricted security - Investment in security not registered under the Securities Act of 1933. Sales or transfers of the* <br> *investment may be restricted only to qualified buyers.*<br>|

---

*See Notes to Financial Statements.*

------

**THE ALGER PORTFOLIOS \| ALGER SMALL CAP GROWTH PORTFOLIO**

**Schedule of Investments March 31, 2026 (Unaudited) (Continued)** <br>

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Security* | *Acquisition* <br>*Date(s)*<br>| *Acquisition* <br>*Cost*<br>| *Market* <br>*Value*<br>| *% of net assets* <br>*as of* <br>*3/31/2026*<br>|
| *Disruptive Technology Solutions LI, LLC* | *11/4/25* | &nbsp;&nbsp; $*770245* | $*1458057* | *1.1%* |
| *Fusion Pharmaceuticals, Inc. CVR* | *6/5/24* | *—* | *51511* | *0.1%* |
| *Impulse Dynamics PLC, Series A* | *2/11/22* | *1596061* | *60650* | *0.1%* |
| *Impulse Dynamics PLC, Series F-3* | *2/5/24* | *194849* | *212291* | *0.2%* |
| *Mirati Therapeutics, Inc. CVR* | *1/24/24* | *—* | *8052* | *0.0%* |
| *SB Technology, Inc., Series E* | *10/23/24* | *645272* | *1349409* | *1.0%* |
| *Tolero CDR* | *2/6/17* | *155594* | *—* | *0.0%* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total |  | $3362021 | $3139970 | 2.5% |

---

*See Notes to Financial Statements.*

------

**THE ALGER PORTFOLIOS \| ALGER BALANCED PORTFOLIO**

**Schedule of Investments March 31, 2026 (Unaudited)** <br>

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE** |
| **COMMON STOCKS—69.3%** | **COMMON STOCKS—69.3%** | **COMMON STOCKS—69.3%** |
| **AEROSPACE & DEFENSE—0.5%** | **AEROSPACE & DEFENSE—0.5%** | **AEROSPACE & DEFENSE—0.5%** |
| TransDigm Group, Inc. | 282 | **$326827** |
| **APPAREL RETAIL—0.3%** | **APPAREL RETAIL—0.3%** | **APPAREL RETAIL—0.3%** |
| Gap, Inc. | 7208 | **174434** |
| **APPLICATION SOFTWARE—0.2%** | **APPLICATION SOFTWARE—0.2%** | **APPLICATION SOFTWARE—0.2%** |
| Adobe, Inc.<sup>\*</sup>  | 641 | **155814** |
| **ASSET MANAGEMENT & CUSTODY BANKS—1.5%** | **ASSET MANAGEMENT & CUSTODY BANKS—1.5%** | **ASSET MANAGEMENT & CUSTODY BANKS—1.5%** |
| Blackrock, Inc. | 619 | 595298 |
| Blackstone, Inc. | 3301 | 379582 |
|  |  | **974880** |
| **AUTOMOBILE MANUFACTURERS—0.3%** | **AUTOMOBILE MANUFACTURERS—0.3%** | **AUTOMOBILE MANUFACTURERS—0.3%** |
| Ferrari NV | 491 | **166179** |
| **BIOTECHNOLOGY—1.8%** | **BIOTECHNOLOGY—1.8%** | **BIOTECHNOLOGY—1.8%** |
| AbbVie, Inc. | 3154 | 685963 |
| Amgen, Inc. | 750 | 263888 |
| Gilead Sciences, Inc. | 1336 | 186198 |
|  |  | **1136049** |
| **BROADLINE RETAIL—2.0%** | **BROADLINE RETAIL—2.0%** | **BROADLINE RETAIL—2.0%** |
| Amazon.com, Inc.<sup>\*</sup>  | 6079 | **1266073** |
| **BUILDING PRODUCTS—0.5%** | **BUILDING PRODUCTS—0.5%** | **BUILDING PRODUCTS—0.5%** |
| Johnson Controls International PLC | 2463 | **322530** |
| **COMMUNICATIONS EQUIPMENT—0.7%** | **COMMUNICATIONS EQUIPMENT—0.7%** | **COMMUNICATIONS EQUIPMENT—0.7%** |
| Cisco Systems, Inc. | 5600 | **434504** |
| **COMPUTER & ELECTRONICS RETAIL—0.2%** | **COMPUTER & ELECTRONICS RETAIL—0.2%** | **COMPUTER & ELECTRONICS RETAIL—0.2%** |
| Best Buy Co., Inc. | 1819 | **116780** |
| **CONSUMER ELECTRONICS—0.4%** | **CONSUMER ELECTRONICS—0.4%** | **CONSUMER ELECTRONICS—0.4%** |
| Garmin Ltd. | 1180 | **273772** |
| **CONSUMER STAPLES MERCHANDISE RETAIL—1.1%** | **CONSUMER STAPLES MERCHANDISE RETAIL—1.1%** | **CONSUMER STAPLES MERCHANDISE RETAIL—1.1%** |
| Walmart, Inc. | 5602 | **696217** |
| **COPPER—0.6%** | **COPPER—0.6%** | **COPPER—0.6%** |
| Southern Copper Corp. | 2429 | **417934** |
| **DIVERSIFIED BANKS—3.8%** | **DIVERSIFIED BANKS—3.8%** | **DIVERSIFIED BANKS—3.8%** |
| Bank of America Corp. | 10425 | 508219 |
| Fifth Third Bancorp | 5036 | 233972 |
| JPMorgan Chase & Co. | 5823 | 1712894 |
|  |  | **2455085** |
| **ELECTRIC UTILITIES—0.4%** | **ELECTRIC UTILITIES—0.4%** | **ELECTRIC UTILITIES—0.4%** |
| NextEra Energy, Inc. | 3096 | **287556** |
| **ELECTRICAL COMPONENTS & EQUIPMENT—1.2%** | **ELECTRICAL COMPONENTS & EQUIPMENT—1.2%** | **ELECTRICAL COMPONENTS & EQUIPMENT—1.2%** |
| Eaton Corp. PLC | 2111 | **755041** |

---

*See Notes to Financial Statements.*

------

**THE ALGER PORTFOLIOS \| ALGER BALANCED PORTFOLIO**

**Schedule of Investments March 31, 2026 (Unaudited) (Continued)** <br>

------

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE** |
| **COMMON STOCKS—69.3% (CONT.)** | **COMMON STOCKS—69.3% (CONT.)** | **COMMON STOCKS—69.3% (CONT.)** |
| **ELECTRONIC COMPONENTS—0.8%** | **ELECTRONIC COMPONENTS—0.8%** | **ELECTRONIC COMPONENTS—0.8%** |
| Corning, Inc. | 3737 | **$508120** |
| **FINANCIAL EXCHANGES & DATA—0.7%** | **FINANCIAL EXCHANGES & DATA—0.7%** | **FINANCIAL EXCHANGES & DATA—0.7%** |
| CME Group, Inc., Cl. A | 1527 | **450999** |
| **FOOD DISTRIBUTORS—0.2%** | **FOOD DISTRIBUTORS—0.2%** | **FOOD DISTRIBUTORS—0.2%** |
| Sysco Corp. | 2208 | **157497** |
| **HEALTH CARE DISTRIBUTORS—0.6%** | **HEALTH CARE DISTRIBUTORS—0.6%** | **HEALTH CARE DISTRIBUTORS—0.6%** |
| Cardinal Health, Inc. | 1952 | **412477** |
| **HEALTHCARE EQUIPMENT—0.6%** | **HEALTHCARE EQUIPMENT—0.6%** | **HEALTHCARE EQUIPMENT—0.6%** |
| Abbott Laboratories | 1772 | 181931 |
| Medtronic PLC | 2381 | 206314 |
|  |  | **388245** |
| **HOME IMPROVEMENT RETAIL—1.0%** | **HOME IMPROVEMENT RETAIL—1.0%** | **HOME IMPROVEMENT RETAIL—1.0%** |
| The Home Depot, Inc. | 1998 | **657122** |
| **HOUSEHOLD PRODUCTS—0.7%** | **HOUSEHOLD PRODUCTS—0.7%** | **HOUSEHOLD PRODUCTS—0.7%** |
| The Procter & Gamble Co. | 3208 | **463364** |
| **INDUSTRIAL CONGLOMERATES—0.9%** | **INDUSTRIAL CONGLOMERATES—0.9%** | **INDUSTRIAL CONGLOMERATES—0.9%** |
| Honeywell International, Inc. | 2450 | **553774** |
| **INDUSTRIAL GASES—0.5%** | **INDUSTRIAL GASES—0.5%** | **INDUSTRIAL GASES—0.5%** |
| Air Products & Chemicals, Inc. | 1082 | **314310** |
| **INTEGRATED OIL & GAS—3.3%** | **INTEGRATED OIL & GAS—3.3%** | **INTEGRATED OIL & GAS—3.3%** |
| Chevron Corp. | 3440 | 711736 |
| Exxon Mobil Corp. | 5964 | 1011852 |
| TotalEnergies SE | 4536 | 412686 |
|  |  | **2136274** |
| **INTEGRATED TELECOMMUNICATION SERVICES—0.9%** | **INTEGRATED TELECOMMUNICATION SERVICES—0.9%** | **INTEGRATED TELECOMMUNICATION SERVICES—0.9%** |
| Comcast Corp., Cl. A | 7593 | 217995 |
| Verizon Communications, Inc. | 7668 | 384934 |
|  |  | **602929** |
| **INTERACTIVE MEDIA & SERVICES—7.4%** | **INTERACTIVE MEDIA & SERVICES—7.4%** | **INTERACTIVE MEDIA & SERVICES—7.4%** |
| Alphabet, Inc., Cl. A | 7607 | 2187469 |
| Alphabet, Inc., Cl. C | 5878 | 1686163 |
| Meta Platforms, Inc., Cl. A | 1500 | 858195 |
|  |  | **4731827** |
| **INVESTMENT BANKING & BROKERAGE—2.0%** | **INVESTMENT BANKING & BROKERAGE—2.0%** | **INVESTMENT BANKING & BROKERAGE—2.0%** |
| Morgan Stanley | 7795 | **1282823** |
| **IT CONSULTING & OTHER SERVICES—0.4%** | **IT CONSULTING & OTHER SERVICES—0.4%** | **IT CONSULTING & OTHER SERVICES—0.4%** |
| Accenture PLC, Cl. A | 589 | 116793 |
| International Business Machines Corp. | 618 | 149797 |
|  |  | **266590** |

---

*See Notes to Financial Statements.*

------

**THE ALGER PORTFOLIOS \| ALGER BALANCED PORTFOLIO**

**Schedule of Investments March 31, 2026 (Unaudited) (Continued)** <br>

------

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE** |
| **COMMON STOCKS—69.3% (CONT.)** | **COMMON STOCKS—69.3% (CONT.)** | **COMMON STOCKS—69.3% (CONT.)** |
| **MANAGED HEALTHCARE—0.4%** | **MANAGED HEALTHCARE—0.4%** | **MANAGED HEALTHCARE—0.4%** |
| UnitedHealth Group, Inc. | 938 | **$253813** |
| **MULTI-UTILITIES—0.8%** | **MULTI-UTILITIES—0.8%** | **MULTI-UTILITIES—0.8%** |
| Consolidated Edison, Inc. | 1953 | 221040 |
| Sempra | 2769 | 269064 |
|  |  | **490104** |
| **OIL & GAS STORAGE & TRANSPORTATION—0.4%** | **OIL & GAS STORAGE & TRANSPORTATION—0.4%** | **OIL & GAS STORAGE & TRANSPORTATION—0.4%** |
| ONEOK, Inc. | 2518 | **227602** |
| **OTHER SPECIALTY RETAIL—0.1%** | **OTHER SPECIALTY RETAIL—0.1%** | **OTHER SPECIALTY RETAIL—0.1%** |
| Dick's Sporting Goods, Inc. | 485 | **96171** |
| **PHARMACEUTICALS—3.9%** | **PHARMACEUTICALS—3.9%** | **PHARMACEUTICALS—3.9%** |
| AstraZeneca PLC | 1467 | 289322 |
| Bristol-Myers Squibb Co. | 3679 | 223131 |
| Eli Lilly & Co. | 491 | 451607 |
| Johnson & Johnson | 3303 | 807385 |
| Merck & Co., Inc. | 2333 | 280637 |
| Novartis AG ADR | 1726 | 263646 |
| Pfizer, Inc. | 6385 | 179291 |
|  |  | **2495019** |
| **PROPERTY & CASUALTY INSURANCE—0.5%** | **PROPERTY & CASUALTY INSURANCE—0.5%** | **PROPERTY & CASUALTY INSURANCE—0.5%** |
| The Hartford Insurance Group, Inc. | 2210 | **298858** |
| **RAIL TRANSPORTATION—0.5%** | **RAIL TRANSPORTATION—0.5%** | **RAIL TRANSPORTATION—0.5%** |
| Union Pacific Corp. | 1457 | **353497** |
| **RESTAURANTS—0.9%** | **RESTAURANTS—0.9%** | **RESTAURANTS—0.9%** |
| McDonald's Corp. | 1011 | 314209 |
| Starbucks Corp. | 2649 | 237324 |
|  |  | **551533** |
| **SEMICONDUCTOR MATERIALS & EQUIPMENT—4.1%** | **SEMICONDUCTOR MATERIALS & EQUIPMENT—4.1%** | **SEMICONDUCTOR MATERIALS & EQUIPMENT—4.1%** |
| KLA Corp. | 1774 | **2612055** |
| **SEMICONDUCTORS—6.8%** | **SEMICONDUCTORS—6.8%** | **SEMICONDUCTORS—6.8%** |
| Broadcom, Inc. | 9629 | 2980272 |
| QUALCOMM, Inc. | 3850 | 495803 |
| Taiwan Semiconductor Manufacturing Co., Ltd. ADR | 2574 | 869883 |
|  |  | **4345958** |
| **SOFT DRINKS & NON-ALCOHOLIC BEVERAGES—1.3%** | **SOFT DRINKS & NON-ALCOHOLIC BEVERAGES—1.3%** | **SOFT DRINKS & NON-ALCOHOLIC BEVERAGES—1.3%** |
| PepsiCo, Inc. | 2539 | 394281 |
| The Coca-Cola Co. | 5650 | 429683 |
|  |  | **823964** |
| **SPECIALTY CHEMICALS—0.6%** | **SPECIALTY CHEMICALS—0.6%** | **SPECIALTY CHEMICALS—0.6%** |
| DuPont de Nemours, Inc. | 8204 | **375743** |

---

*See Notes to Financial Statements.*

------

**THE ALGER PORTFOLIOS \| ALGER BALANCED PORTFOLIO**

**Schedule of Investments March 31, 2026 (Unaudited) (Continued)** <br>

------

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE** |
| **COMMON STOCKS—69.3% (CONT.)** | **COMMON STOCKS—69.3% (CONT.)** | **COMMON STOCKS—69.3% (CONT.)** |
| **SYSTEMS SOFTWARE—5.3%** | **SYSTEMS SOFTWARE—5.3%** | **SYSTEMS SOFTWARE—5.3%** |
| Microsoft Corp. | 8687 | **$** 3215667 |
| Oracle Corp. | 1291 | 189919 |
|  |  | **3405586** |
| **TECHNOLOGY HARDWARE STORAGE & PERIPHERALS—5.8%** | **TECHNOLOGY HARDWARE STORAGE & PERIPHERALS—5.8%** | **TECHNOLOGY HARDWARE STORAGE & PERIPHERALS—5.8%** |
| Apple, Inc. | 13303 | 3376168 |
| Dell Technologies, Inc., Cl. C | 2119 | 347792 |
|  |  | **3723960** |
| **TOBACCO—1.0%** | **TOBACCO—1.0%** | **TOBACCO—1.0%** |
| Altria Group, Inc. | 4752 | 313584 |
| Philip Morris International, Inc. | 1931 | 319272 |
|  |  | **632856** |
| **TRADING COMPANIES & DISTRIBUTORS—0.4%** | **TRADING COMPANIES & DISTRIBUTORS—0.4%** | **TRADING COMPANIES & DISTRIBUTORS—0.4%** |
| Ferguson Enterprises, Inc. | 1221 | **284810** |
| **TRANSACTION & PAYMENT PROCESSING SERVICES—1.0%** | **TRANSACTION & PAYMENT PROCESSING SERVICES—1.0%** | **TRANSACTION & PAYMENT PROCESSING SERVICES—1.0%** |
| Visa, Inc., Cl. A | 2126 | **642562** |
| &nbsp;&nbsp;&nbsp; **TOTAL COMMON STOCKS** <br>(Cost $13,025,270) |  | **44500117** |
| **MASTER LIMITED PARTNERSHIPS—0.3%** | **MASTER LIMITED PARTNERSHIPS—0.3%** | **MASTER LIMITED PARTNERSHIPS—0.3%** |
| **OIL & GAS STORAGE & TRANSPORTATION—0.3%** | **OIL & GAS STORAGE & TRANSPORTATION—0.3%** | **OIL & GAS STORAGE & TRANSPORTATION—0.3%** |
| Cheniere Energy Partners LP | 2908 | **187944** |
| &nbsp;&nbsp;&nbsp; (Cost $77,377) |  | **187944** |
| **REAL ESTATE INVESTMENT TRUSTS—2.3%** | **REAL ESTATE INVESTMENT TRUSTS—2.3%** | **REAL ESTATE INVESTMENT TRUSTS—2.3%** |
| **HEALTH CARE—0.8%** | **HEALTH CARE—0.8%** | **HEALTH CARE—0.8%** |
| Welltower, Inc. | 2701 | **534015** |
| **INDUSTRIAL—0.3%** | **INDUSTRIAL—0.3%** | **INDUSTRIAL—0.3%** |
| Prologis, Inc. | 1216 | **160731** |
| **RETAIL—0.5%** | **RETAIL—0.5%** | **RETAIL—0.5%** |
| Simon Property Group, Inc. | 1846 | **344334** |
| **SPECIALIZED—0.4%** | **SPECIALIZED—0.4%** | **SPECIALIZED—0.4%** |
| Lamar Advertising Co., Cl. A | 1967 | **249140** |
| **TELECOM TOWER—0.3%** | **TELECOM TOWER—0.3%** | **TELECOM TOWER—0.3%** |
| Crown Castle, Inc. | 2195 | **178476** |
| &nbsp;&nbsp;&nbsp; **TOTAL REAL ESTATE INVESTMENT TRUSTS** <br>(Cost $800,984) |  | **1466696** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL** <br>**AMOUNT**<br>| **VALUE** |
| **CORPORATE BONDS—22.7%** | **CORPORATE BONDS—22.7%** | **CORPORATE BONDS—22.7%** |
| **APPLICATION SOFTWARE—0.8%** | **APPLICATION SOFTWARE—0.8%** | **APPLICATION SOFTWARE—0.8%** |
| Cadence Design Systems, Inc., 4.3%, 9/10/29 | 500000 | **498523** |

---

*See Notes to Financial Statements.*

------

**THE ALGER PORTFOLIOS \| ALGER BALANCED PORTFOLIO**

**Schedule of Investments March 31, 2026 (Unaudited) (Continued)** <br>

------

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL**<br> **AMOUNT**<br>| **VALUE** |
| **CORPORATE BONDS—22.7% (CONT.)** | **CORPORATE BONDS—22.7% (CONT.)** | **CORPORATE BONDS—22.7% (CONT.)** |
| **AUTOMOBILE MANUFACTURERS—0.8%** | **AUTOMOBILE MANUFACTURERS—0.8%** | **AUTOMOBILE MANUFACTURERS—0.8%** |
| General Motors Financial Co., Inc., 1.5%, 6/10/26 | 500000 | **$497112** |
| **BROADLINE RETAIL—0.8%** | **BROADLINE RETAIL—0.8%** | **BROADLINE RETAIL—0.8%** |
| Amazon.com, Inc., 4.55%, 12/1/27 | 500000 | **504665** |
| **CONSTRUCTION MACHINERY & HEAVY TRANSPORTATION EQUIPMENT—0.8%** | **CONSTRUCTION MACHINERY & HEAVY TRANSPORTATION EQUIPMENT—0.8%** | **CONSTRUCTION MACHINERY & HEAVY TRANSPORTATION EQUIPMENT—0.8%** |
| Westinghouse Air Brake Technologies Corp., 4.9%, 5/29/30 | 500000 | **505634** |
| **CONSUMER FINANCE—0.8%** | **CONSUMER FINANCE—0.8%** | **CONSUMER FINANCE—0.8%** |
| American Express Co., 5.85%, 11/5/27 | 500000 | **512012** |
| **CONSUMER STAPLES MERCHANDISE RETAIL—0.8%** | **CONSUMER STAPLES MERCHANDISE RETAIL—0.8%** | **CONSUMER STAPLES MERCHANDISE RETAIL—0.8%** |
| Walmart, Inc., 4.35%, 4/28/30 | 500000 | **504933** |
| **DIVERSIFIED BANKS—1.5%** | **DIVERSIFIED BANKS—1.5%** | **DIVERSIFIED BANKS—1.5%** |
| Citibank N.A., 4.929%, 8/6/26 | 500000 | 501265 |
| JPMorgan Chase Bank N.A., 5.11%, 12/8/26 | 500000 | 502863 |
|  |  | **1004128** |
| **ENVIRONMENTAL & FACILITIES SERVICES—0.8%** | **ENVIRONMENTAL & FACILITIES SERVICES—0.8%** | **ENVIRONMENTAL & FACILITIES SERVICES—0.8%** |
| Republic Services, Inc., 4.75%, 7/15/30 | 500000 | **506625** |
| **HEALTH CARE—0.8%** | **HEALTH CARE—0.8%** | **HEALTH CARE—0.8%** |
| Welltower OP LLC, 4.5%, 7/1/30 | 500000 | **500352** |
| **HEALTH CARE DISTRIBUTORS—1.6%** | **HEALTH CARE DISTRIBUTORS—1.6%** | **HEALTH CARE DISTRIBUTORS—1.6%** |
| Cardinal Health, Inc., 5%, 11/15/29 | 500000 | 507721 |
| McKesson Corp., 4.65%, 5/30/30 | 500000 | 503153 |
|  |  | **1010874** |
| **HOME IMPROVEMENT RETAIL—0.8%** | **HOME IMPROVEMENT RETAIL—0.8%** | **HOME IMPROVEMENT RETAIL—0.8%** |
| The Home Depot, Inc., 3.95%, 9/15/30 | 500000 | **493674** |
| **MANAGED HEALTHCARE—1.5%** | **MANAGED HEALTHCARE—1.5%** | **MANAGED HEALTHCARE—1.5%** |
| UnitedHealth Group, Inc., 3.7%, 5/15/27 | 1000000 | **994023** |
| **MULTI-UTILITIES—2.3%** | **MULTI-UTILITIES—2.3%** | **MULTI-UTILITIES—2.3%** |
| Dominion Energy, Inc., 4.6%, 5/15/28 | 500000 | 501655 |
| Public Service Electric and Gas Co., 4.2%, 1/1/31 | 500000 | 493655 |
| Sempra, 5.4%, 8/1/26 | 500000 | 500837 |
|  |  | **1496147** |
| **OIL & GAS EXPLORATION & PRODUCTION—0.8%** | **OIL & GAS EXPLORATION & PRODUCTION—0.8%** | **OIL & GAS EXPLORATION & PRODUCTION—0.8%** |
| ConocoPhillips Co., 4.7%, 1/15/30 | 500000 | **504562** |
| **PHARMACEUTICALS—2.3%** | **PHARMACEUTICALS—2.3%** | **PHARMACEUTICALS—2.3%** |
| AstraZeneca Finance LLC, 4.85%, 2/26/29 | 500000 | 508711 |
| Johnson & Johnson, 4.8%, 6/1/29 | 500000 | 512815 |
| Novartis Capital Corp., 3.8%, 9/18/29 | 500000 | 493618 |
|  |  | **1515144** |
| **RESTAURANTS—0.8%** | **RESTAURANTS—0.8%** | **RESTAURANTS—0.8%** |
| McDonald's Corp., 4.8%, 8/14/28 | 500000 | **506341** |

---

*See Notes to Financial Statements.*

------

**THE ALGER PORTFOLIOS \| ALGER BALANCED PORTFOLIO**

**Schedule of Investments March 31, 2026 (Unaudited) (Continued)** <br>

------

---

| | | |
|:---|:---|:---|
|  | **PRINCIPAL**<br> **AMOUNT**<br>| **VALUE** |
| **CORPORATE BONDS—22.7% (CONT.)** | **CORPORATE BONDS—22.7% (CONT.)** | **CORPORATE BONDS—22.7% (CONT.)** |
| **SOFT DRINKS & NON-ALCOHOLIC BEVERAGES—0.8%** | **SOFT DRINKS & NON-ALCOHOLIC BEVERAGES—0.8%** | **SOFT DRINKS & NON-ALCOHOLIC BEVERAGES—0.8%** |
| PepsiCo, Inc., 4.45%, 5/15/28 | 500000 | **$504261** |
| **SPECIALTY CHEMICALS—0.8%** | **SPECIALTY CHEMICALS—0.8%** | **SPECIALTY CHEMICALS—0.8%** |
| Ecolab, Inc., 5.25%, 1/15/28 | 500000 | **509400** |
| **TECHNOLOGY HARDWARE STORAGE & PERIPHERALS—0.8%** | **TECHNOLOGY HARDWARE STORAGE & PERIPHERALS—0.8%** | **TECHNOLOGY HARDWARE STORAGE & PERIPHERALS—0.8%** |
| Apple, Inc., 4.2%, 5/12/30 | 500000 | **502733** |
| **TRANSACTION & PAYMENT PROCESSING SERVICES—0.8%** | **TRANSACTION & PAYMENT PROCESSING SERVICES—0.8%** | **TRANSACTION & PAYMENT PROCESSING SERVICES—0.8%** |
| Mastercard, Inc., 4.35%, 1/15/32 | 500000 | **496333** |
| **WIRELESS TELECOMMUNICATION SERVICES—1.5%** | **WIRELESS TELECOMMUNICATION SERVICES—1.5%** | **WIRELESS TELECOMMUNICATION SERVICES—1.5%** |
| T-Mobile USA, Inc., 4.2%, 10/1/29 | 500000 | 497026 |
| T-Mobile USA, Inc., 5.125%, 5/15/32 | 500000 | 507348 |
|  |  | **1004374** |
| &nbsp;&nbsp;&nbsp; **TOTAL CORPORATE BONDS** <br>(Cost $14,514,619) |  | **14571850** |
| **U.S. GOVERNMENT BONDS—3.2%** | **U.S. GOVERNMENT BONDS—3.2%** | **U.S. GOVERNMENT BONDS—3.2%** |
| U.S. Treasury Note, 3.5%, 9/30/26 | 550000 | 549275 |
| U.S. Treasury Note, 4.125%, 10/31/29 | 500000 | 504160 |
| U.S. Treasury Note, 4.625%, 2/15/35 | 500000 | 513096 |
| U.S. Treasury Note, 4.25%, 8/15/35 | 500000 | 498203 |
| &nbsp;&nbsp;&nbsp; **TOTAL U.S. GOVERNMENT BONDS** <br>(Cost $2,068,125) |  | **2064734** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE** |
| **SHORT-TERM SECURITIES—2.0%** | **SHORT-TERM SECURITIES—2.0%** | **SHORT-TERM SECURITIES—2.0%** |
| **MONEY MARKET FUNDS—2.0%** | **MONEY MARKET FUNDS—2.0%** | **MONEY MARKET FUNDS—2.0%** |
| &nbsp;&nbsp;&nbsp; Dreyfus Treasury Obligations Cash Management Fund, <br>Institutional Shares, 3.54%<sup>(a)</sup>  | 1277580 | **1277580** |
| &nbsp;&nbsp;&nbsp; (Cost $1,277,580) |  | **1277580** |
| &nbsp;&nbsp;&nbsp; **Total Investments** <br>**(Cost $31,763,955)** | 99.8% | **$64068921** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Unaffiliated Securities (Cost $31,763,955) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 64068921 |
| Other Assets in Excess of Liabilities | 0.2% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 114959 |
| **NET ASSETS** | 100.0% | **$64183880** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

*ADR* *American Depositary Receipts*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

*(a)* *Rate shown reflects 7-day effective yield as of March 31, 2026.* <br> *\** *Non-income producing security.*

*See Notes to Financial Statements.*

------

**THE ALGER PORTFOLIOS**

**NOTES TO FINANCIAL STATEMENTS (Unaudited)** <br>

------

**NOTE 1 — General:**

------

The Alger Portfolios (the "Fund") is an open-end registered investment company registered under the Investment Company Act of 1940, as amended (the "1940 Act"), and 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 ("FASB") Accounting Standards Codification 946 – Financial Services – Investment Companies. The Fund operates as a series company currently offering six 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 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 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 offers 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. Effective April 30, 2021, the Board of Trustees of the Fund (the "Board") authorized a partial closing of the Portfolio's Class S shares. Existing investors that hold Class S shares who had an open account with the Portfolio on April 30, 2021 may continue to invest in additional Class S shares of the Portfolio through exchanges, dividend reinvestment and additional purchases as provided in the Portfolio's prospectus. Alger Large Cap Growth Portfolio, Alger Growth & Income Portfolio, Alger Mid Cap Growth Portfolio, Alger Small Cap Growth Portfolio and Alger Balanced Portfolio offer only Class I-2 shares.

After the close of business on June 3, 2022, Class S shares of the Alger Large Cap Growth Portfolio and Alger Mid Cap Growth Portfolio were converted into Class I-2 shares with the same relative aggregate net asset value as the Class S shares held immediately prior to the conversion. Upon completion of the conversion, Class S shares of the Portfolios were no longer offered.

------

**THE ALGER PORTFOLIOS**

**NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)** <br>

------

**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 of Trustees of the Trust (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).

The Board has designated, pursuant to Rule 2a-5 under the 1940 Act, Fred Alger Management, LLC, the Portfolios' investment adviser ("Alger Management" or the "Investment Manager"), as its valuation designee (the "Valuation Designee") to make fair value determinations subject to the Board's review and oversight. The Valuation Designee has established a Valuation Committee ("Committee") comprised of representatives of the Investment Manager and officers of the Portfolios to assist in performing the duties and responsibilities of the Valuation Designee.

The Valuation Designee has established valuation processes including but not limited to: (i) making fair value determinations when market quotations for financial instruments are not readily available in accordance with valuation policies and procedures adopted by the Board; (ii) assessing and managing material risks associated with fair valuation determinations; (iii) selecting, applying and testing fair valuation methodologies; and (iv) overseeing and evaluating pricing services used by the Portfolios. The Valuation Designee regularly reports its fair valuation determinations and related valuation information to the Board. The Committee generally meets quarterly and on an as-needed basis to review and evaluate the effectiveness of the valuation policies and procedures in accordance with the requirements of Rule 2a-5.

Investments in 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. Investments in other open-end investment companies registered under the 1940 Act, including money market funds, are valued at such investment companies' net asset value per share.

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 generally 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.

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

------

**THE ALGER PORTFOLIOS**

**NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)** <br>

------

investment, pricing services may use certain information with respect to transactions in such investments, quotations from dealers, pricing matrices, 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.

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 Valuation Designee, through its Committee, 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 NYSE is 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 these circumstances. The three-tier hierarchy of inputs is summarized in the three broad Levels listed below. Each Portfolio's quantiative summary by Level can be found in Note 3.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 – quoted prices in active markets for identical investments

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 – significant other observable inputs (including quoted prices for similar or identical investments, amortized cost, interest rates, prepayment speeds, credit risk, etc.)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 – significant unobservable inputs (including the Portfolios' own assumptions in determining the fair value of investments)

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

------

**THE ALGER PORTFOLIOS**

**NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)** <br>

------

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, bookings multiples, earnings before interest, taxes, depreciation and amortization ("EBITDA") multiples, transaction pricing, performance of comparable publicly traded securities, 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.

**NOTE 3 — Fair Value Measurements:**

------

The following is a summary of the inputs used as of March 31, 2026 in valuing the Portfolios' investments carried at fair value on a recurring basis. Based upon the nature, characteristics, and risks associated with their investments, the Fund have determined that presenting them by security type and sector is appropriate.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Alger Capital Appreciation Portfolio** | **TOTAL** | **LEVEL 1** | **LEVEL 2** | **LEVEL 3** |
| **COMMON STOCKS** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Communication Services | $77444975 | &nbsp;&nbsp; $77444975 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer Discretionary | 80719172 | &nbsp;&nbsp; 80719172 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer Staples | 541957 | &nbsp;&nbsp; 541957 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energy | 3821104 | &nbsp;&nbsp; 3821104 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financials | 9905605 | &nbsp;&nbsp; 9905605 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health Care | 57012958 | &nbsp;&nbsp; 57012958 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrials | 31932467 | &nbsp;&nbsp; 31932467 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Information Technology | 338387360 | &nbsp;&nbsp; 338387360 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Materials | 3286349 | &nbsp;&nbsp; 3286349 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Utilities | 14124194 | &nbsp;&nbsp; 14124194 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| **TOTAL COMMON STOCKS** | **$617176141** | &nbsp;&nbsp; **$617176141** | &nbsp;&nbsp; **$—** | &nbsp;&nbsp; **$—** |
| **PREFERRED STOCKS** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrials | 4262234 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 4262234 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Information Technology | 17281735 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 17281735 |
| **TOTAL PREFERRED STOCKS** | **$21543969** | &nbsp;&nbsp; **$—** | &nbsp;&nbsp; **$—** | &nbsp;&nbsp; **$21543969** |
| **REAL ESTATE INVESTMENT** <br> **TRUSTS**<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Real Estate | 4416248 | &nbsp;&nbsp; 4416248 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| **SPECIAL PURPOSE VEHICLES** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Information Technology | 6767248 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 6767248 |

---

------

**THE ALGER PORTFOLIOS**

**NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)** <br>

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Alger Capital Appreciation Portfolio** | **TOTAL** | **LEVEL 1** | **LEVEL 2** | **LEVEL 3** |
| **SHORT-TERM INVESTMENTS** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Money Market Funds | $12009627 | &nbsp;&nbsp; $12009627 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— |
| **TOTAL INVESTMENTS IN** <br> **SECURITIES**<br>| **$661913233** | &nbsp;&nbsp; **$633602016** | &nbsp;&nbsp; **$—** | &nbsp;&nbsp; **$28311217** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Alger Large Cap Growth Portfolio** | **TOTAL** | **LEVEL 1** | **LEVEL 2** | **LEVEL 3** |
| **COMMON STOCKS** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Communication Services | $70801352 | &nbsp;&nbsp; $70801352 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer Discretionary | 28051295 | &nbsp;&nbsp; 28051295 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financials | 6010442 | &nbsp;&nbsp; 6010442 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health Care | 50787333 | &nbsp;&nbsp; 50787333 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrials | 20116046 | &nbsp;&nbsp; 20116046 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Information Technology | 168164974 | &nbsp;&nbsp; 168164974 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Utilities | 7739731 | &nbsp;&nbsp; 7739731 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| **TOTAL COMMON STOCKS** | **$351671173** | &nbsp;&nbsp; **$351671173** | &nbsp;&nbsp; **$—** | &nbsp;&nbsp; **$—** |
| **EXCHANGE TRADED FUNDS** | 11079508 | &nbsp;&nbsp; 11079508 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| **MUTUAL FUNDS** | 9980968 | &nbsp;&nbsp; 9980968 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| **PREFERRED STOCKS** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Information Technology | 13406509 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 13406509 |
| **SPECIAL PURPOSE VEHICLES** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Information Technology | 408231 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 408231 |
| **TOTAL INVESTMENTS IN** <br> **SECURITIES**<br>| **$386546389** | &nbsp;&nbsp; **$372731649** | &nbsp;&nbsp; **$—** | &nbsp;&nbsp; **$13814740** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Alger Growth & Income Portfolio** | **TOTAL** | **LEVEL 1** | **LEVEL 2** | **LEVEL 3** |
| **COMMON STOCKS** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Communication Services | $5264049 | &nbsp;&nbsp; $5264049 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer Discretionary | 3263365 | &nbsp;&nbsp; 3263365 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer Staples | 2757548 | &nbsp;&nbsp; 2757548 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energy | 2335193 | &nbsp;&nbsp; 2335193 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financials | 6051015 | &nbsp;&nbsp; 6051015 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health Care | 4634061 | &nbsp;&nbsp; 4634061 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrials | 2560261 | &nbsp;&nbsp; 2560261 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Information Technology | 15302543 | &nbsp;&nbsp; 15302543 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Materials | 1102293 | &nbsp;&nbsp; 1102293 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Utilities | 775889 | &nbsp;&nbsp; 775889 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| **TOTAL COMMON STOCKS** | **$44046217** | &nbsp;&nbsp; **$44046217** | &nbsp;&nbsp; **$—** | &nbsp;&nbsp; **$—** |
| **MASTER LIMITED** <br> **PARTNERSHIPS**<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energy | 186652 | &nbsp;&nbsp; 186652 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| **REAL ESTATE INVESTMENT** <br> **TRUSTS**<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Real Estate | 1451460 | &nbsp;&nbsp; 1451460 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| **TOTAL INVESTMENTS IN** <br> **SECURITIES**<br>| **$45684329** | &nbsp;&nbsp; **$45684329** | &nbsp;&nbsp; **$—** | &nbsp;&nbsp; **$—** |

---

------

**THE ALGER PORTFOLIOS**

**NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)** <br>

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Alger Mid Cap Growth Portfolio** | **TOTAL** | **LEVEL 1** | **LEVEL 2** | **LEVEL 3** |
| **COMMON STOCKS** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Communication Services | $7668226 | &nbsp;&nbsp; $7668226 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer Discretionary | 19216654 | &nbsp;&nbsp; 19216654 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer Staples | 4692869 | &nbsp;&nbsp; 4692869 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energy | 2718690 | &nbsp;&nbsp; 2718690 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financials | 8587635 | &nbsp;&nbsp; 8587635 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health Care | 18332417 | &nbsp;&nbsp; 18332417 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrials | 40955441 | &nbsp;&nbsp; 40955441 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Information Technology | 23424564 | &nbsp;&nbsp; 23424564 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Materials | 2572532 | &nbsp;&nbsp; 2572532 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Real Estate | 1875985 | &nbsp;&nbsp; 1875985 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Utilities | 3625320 | &nbsp;&nbsp; 3625320 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| **TOTAL COMMON STOCKS** | **$133670333** | &nbsp;&nbsp; **$133670333** | &nbsp;&nbsp; **$—** | &nbsp;&nbsp; **$—** |
| **PREFERRED STOCKS** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrials | 698324 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 698324 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Information Technology | 1249645 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 1249645 |
| **TOTAL PREFERRED STOCKS** | **$1947969** | &nbsp;&nbsp; **$—** | &nbsp;&nbsp; **$—** | &nbsp;&nbsp; **$1947969** |
| **REAL ESTATE INVESTMENT** <br> **TRUSTS**<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Real Estate | 1735771 | &nbsp;&nbsp; 1735771 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| **RIGHTS** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health Care | — <br><sup>1</sup><br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — <br><sup>1</sup><br>|
| **SPECIAL PURPOSE VEHICLES** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Information Technology | 895217 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 895217 |
| **WARRANTS** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Utilities | — <br><sup>2</sup><br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — <br><sup>2</sup><br>| &nbsp;&nbsp; — |
| **SHORT-TERM INVESTMENTS** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Money Market Funds | 4392851 | &nbsp;&nbsp; 4392851 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| **TOTAL INVESTMENTS IN** <br> **SECURITIES**<br>| **$142642141** | &nbsp;&nbsp; **$139798955** | &nbsp;&nbsp; **$—** | &nbsp;&nbsp; **$2843186** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Alger Small Cap Growth Portfolio** | **TOTAL** | **LEVEL 1** | **LEVEL 2** | **LEVEL 3** |
| **COMMON STOCKS** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Communication Services | $718358 | &nbsp;&nbsp; $718358 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer Discretionary | 11623462 | &nbsp;&nbsp; 11623462 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer Staples | 2999676 | &nbsp;&nbsp; 2999676 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energy | 4380085 | &nbsp;&nbsp; 4380085 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financials | 3146682 | &nbsp;&nbsp; 3146682 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health Care | 43212000 | &nbsp;&nbsp; 43151350 | &nbsp;&nbsp; — | &nbsp;&nbsp; 60650 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrials | 31820692 | &nbsp;&nbsp; 31820692 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Information Technology | 24297232 | &nbsp;&nbsp; 24297232 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Materials | 1177716 | &nbsp;&nbsp; 1177716 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Utilities | 710847 | &nbsp;&nbsp; 710847 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| **TOTAL COMMON STOCKS** | **$124086750** | &nbsp;&nbsp; **$124026100** | &nbsp;&nbsp; **$—** | &nbsp;&nbsp; **$60650** |
| **PREFERRED STOCKS** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health Care | 212291 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 212291 |

---

------

**THE ALGER PORTFOLIOS**

**NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)** <br>

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Alger Small Cap Growth Portfolio** | **TOTAL** | **LEVEL 1** | **LEVEL 2** | **LEVEL 3** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Information Technology | $1349409 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1349409 |
| **TOTAL PREFERRED STOCKS** | **$1561700** | &nbsp;&nbsp; **$—** | &nbsp;&nbsp; **$—** | &nbsp;&nbsp; **$1561700** |
| **RIGHTS** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health Care | 59563 <br><sup>1</sup><br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 59563 <br><sup>1</sup><br>|
| **SPECIAL PURPOSE VEHICLES** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Information Technology | 1458057 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 1458057 |
| **SHORT-TERM INVESTMENTS** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Money Market Funds | 3458742 | &nbsp;&nbsp; 3458742 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| **TOTAL INVESTMENTS IN** <br> **SECURITIES**<br>| **$130624812** | &nbsp;&nbsp; **$127484842** | &nbsp;&nbsp; **$—** | &nbsp;&nbsp; **$3139970** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Alger Balanced Portfolio** | **TOTAL** | **LEVEL 1** | **LEVEL 2** | **LEVEL 3** |
| **COMMON STOCKS** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Communication Services | $5334756 | &nbsp;&nbsp; $5334756 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer Discretionary | 3302064 | &nbsp;&nbsp; 3302064 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer Staples | 2773898 | &nbsp;&nbsp; 2773898 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energy | 2363876 | &nbsp;&nbsp; 2363876 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financials | 6105207 | &nbsp;&nbsp; 6105207 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health Care | 4685603 | &nbsp;&nbsp; 4685603 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrials | 2596479 | &nbsp;&nbsp; 2596479 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Information Technology | 15452587 | &nbsp;&nbsp; 15452587 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Materials | 1107987 | &nbsp;&nbsp; 1107987 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Utilities | 777660 | &nbsp;&nbsp; 777660 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| **TOTAL COMMON STOCKS** | **$44500117** | &nbsp;&nbsp; **$44500117** | &nbsp;&nbsp; **$—** | &nbsp;&nbsp; **$—** |
| **CORPORATE BONDS** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Communication Services | 1004374 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1004374 | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer Discretionary | 2001792 | &nbsp;&nbsp; — | &nbsp;&nbsp; 2001792 | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer Staples | 1009194 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1009194 | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energy | 504562 | &nbsp;&nbsp; — | &nbsp;&nbsp; 504562 | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financials | 2012473 | &nbsp;&nbsp; — | &nbsp;&nbsp; 2012473 | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health Care | 3520041 | &nbsp;&nbsp; — | &nbsp;&nbsp; 3520041 | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrials | 1012259 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1012259 | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Information Technology | 1001256 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1001256 | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Materials | 509400 | &nbsp;&nbsp; — | &nbsp;&nbsp; 509400 | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Real Estate | 500352 | &nbsp;&nbsp; — | &nbsp;&nbsp; 500352 | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Utilities | 1496147 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1496147 | &nbsp;&nbsp; — |
| **TOTAL CORPORATE BONDS** | **$14571850** | &nbsp;&nbsp; **$—** | &nbsp;&nbsp; **$14571850** | &nbsp;&nbsp; **$—** |
| **MASTER LIMITED** <br> **PARTNERSHIPS**<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energy | 187944 | &nbsp;&nbsp; 187944 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| **REAL ESTATE INVESTMENT** <br> **TRUSTS**<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Real Estate | 1466696 | &nbsp;&nbsp; 1466696 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |

---

------

**THE ALGER PORTFOLIOS**

**NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)** <br>

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Alger Balanced Portfolio** | **TOTAL** | **LEVEL 1** | **LEVEL 2** | **LEVEL 3** |
| **U.S. GOVERNMENT BONDS** | $2064734 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $2064734 | &nbsp;&nbsp; $— |
| **SHORT-TERM INVESTMENTS** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Money Market Funds | 1277580 | &nbsp;&nbsp; 1277580 | &nbsp;&nbsp; — | &nbsp;&nbsp; — |
| **TOTAL INVESTMENTS IN** <br> **SECURITIES**<br>| **$64068921** | &nbsp;&nbsp; **$47432337** | &nbsp;&nbsp; **$16636584** | &nbsp;&nbsp; **$—** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>1</sup> *Each of Alger Mid Cap Growth Portfolio's and Alger Small Cap Growth Portfolio's holdings of Tolero CDRs are classified* *as a Level 3 investment and are fair valued at zero as of March 31, 2026.* 

<sup>2</sup> *Alger Mid Cap Growth Portfolio's holdings of Constellation Software, Inc. warrants expiring March 31, 2040, are* *classified as a Level 2 investment and are fair valued at zero as of March 31, 2026.* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | |
|:---|:---|
|  | **FAIR VALUE** <br>**MEASUREMENTS** <br>**USING SIGNIFICANT** <br>**UNOBSERVABLE** <br>**INPUTS (LEVEL 3)**<br>|
| **Alger Capital Appreciation Portfolio** | **Preferred Stocks** |
| Opening balance at January 1, 2026 | &nbsp;&nbsp; $17257341 |
| &nbsp;&nbsp;&nbsp; Transfers into Level 3 | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; Transfers out of Level 3 | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; Total gains or losses |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Included in net realized gain (loss) on investments | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Included in net change in unrealized appreciation (depreciation) on investments | &nbsp;&nbsp; 666383 |
| &nbsp;&nbsp;&nbsp; Purchases and Sales/Distributions |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Purchases | &nbsp;&nbsp; 3620245 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sales/Distributions | &nbsp;&nbsp; — |
| Closing balance at March 31, 2026 | &nbsp;&nbsp; 21543969 |
| **Net change in unrealized appreciation (depreciation) attributable to investments** <br>**still held at March 31, 2026**<br>| &nbsp;&nbsp; **$666383** |

---

------

**THE ALGER PORTFOLIOS**

**NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)** <br>

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | **FAIR VALUE** <br>**MEASUREMENTS** <br>**USING SIGNIFICANT** <br>**UNOBSERVABLE** <br>**INPUTS (LEVEL 3)**<br>|
| **Alger Capital Appreciation Portfolio** | **Special Purpose** <br> **Vehicles**<br>|
| Opening balance at January 1, 2026 | &nbsp;&nbsp; $3100000 |
| &nbsp;&nbsp;&nbsp; Transfers into Level 3 | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; Transfers out of Level 3 | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; Total gains or losses |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Included in net realized gain (loss) on investments | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Included in net change in unrealized appreciation (depreciation) on investments | &nbsp;&nbsp; 2949518 |
| &nbsp;&nbsp;&nbsp; Purchases and Sales/Distributions |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Purchases | &nbsp;&nbsp; 717730 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sales/Distributions | &nbsp;&nbsp; — |
| Closing balance at March 31, 2026 | &nbsp;&nbsp; 6767248 |
| **Net change in unrealized appreciation (depreciation) attributable to investments** <br>**still held at March 31, 2026**<br>| &nbsp;&nbsp; **$2949518** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | **FAIR VALUE** <br>**MEASUREMENTS** <br>**USING SIGNIFICANT** <br>**UNOBSERVABLE** <br>**INPUTS (LEVEL 3)**<br>|
| **Alger Large Cap Growth Portfolio** | **Preferred Stocks** |
| Opening balance at January 1, 2026 | &nbsp;&nbsp; $5435486 |
| &nbsp;&nbsp;&nbsp; Transfers into Level 3 | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; Transfers out of Level 3 | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; Total gains or losses |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Included in net realized gain (loss) on investments | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Included in net change in unrealized appreciation (depreciation) on investments | &nbsp;&nbsp; 5931344 |
| &nbsp;&nbsp;&nbsp; Purchases and Sales/Distributions |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Purchases | &nbsp;&nbsp; 2039679 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sales/Distributions | &nbsp;&nbsp; — |
| Closing balance at March 31, 2026 | &nbsp;&nbsp; 13406509 |
| **Net change in unrealized appreciation (depreciation) attributable to investments** <br>**still held at March 31, 2026**<br>| &nbsp;&nbsp; **$5931344** |

---

------

**THE ALGER PORTFOLIOS**

**NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)** <br>

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | **FAIR VALUE** <br>**MEASUREMENTS** <br>**USING SIGNIFICANT** <br>**UNOBSERVABLE** <br>**INPUTS (LEVEL 3)**<br>|
| **Alger Large Cap Growth Portfolio** | **Special Purpose** <br> **Vehicles**<br>|
| Opening balance at January 1, 2026 | &nbsp;&nbsp; $— |
| &nbsp;&nbsp;&nbsp; Transfers into Level 3 | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; Transfers out of Level 3 | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; Total gains or losses |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Included in net realized gain (loss) on investments | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Included in net change in unrealized appreciation (depreciation) on investments | &nbsp;&nbsp; (5436)<br>|
| &nbsp;&nbsp;&nbsp; Purchases and Sales/Distributions |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Purchases | &nbsp;&nbsp; 413667 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sales/Distributions | &nbsp;&nbsp; — |
| Closing balance at March 31, 2026 | &nbsp;&nbsp; 408231 |
| **Net change in unrealized appreciation (depreciation) attributable to investments** <br>**still held at March 31, 2026**<br>| &nbsp;&nbsp; **$(5436)** <br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | **FAIR VALUE** <br>**MEASUREMENTS** <br>**USING SIGNIFICANT** <br>**UNOBSERVABLE** <br>**INPUTS (LEVEL 3)**<br>|
| **Alger Mid Cap Growth Portfolio** | **Preferred Stocks** |
| Opening balance at January 1, 2026 | &nbsp;&nbsp; $967546 |
| &nbsp;&nbsp;&nbsp; Transfers into Level 3 | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; Transfers out of Level 3 | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; Total gains or losses |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Included in net realized gain (loss) on investments | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Included in net change in unrealized appreciation (depreciation) on investments | &nbsp;&nbsp; 652968 |
| &nbsp;&nbsp;&nbsp; Purchases and Sales/Distributions |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Purchases | &nbsp;&nbsp; 327455 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sales/Distributions | &nbsp;&nbsp; — |
| Closing balance at March 31, 2026 | &nbsp;&nbsp; 1947969 |
| **Net change in unrealized appreciation (depreciation) attributable to investments** <br>**still held at March 31, 2026**<br>| &nbsp;&nbsp; **652968** |

---

------

**THE ALGER PORTFOLIOS**

**NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)** <br>

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | **FAIR VALUE** <br>**MEASUREMENTS** <br>**USING SIGNIFICANT** <br>**UNOBSERVABLE** <br>**INPUTS (LEVEL 3)**<br>|
| **Alger Mid Cap Growth Portfolio** | **Rights** |
| Opening balance at January 1, 2026 | &nbsp;&nbsp; $—\* |
| &nbsp;&nbsp;&nbsp; Transfers into Level 3 | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; Transfers out of Level 3 | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; Total gains or losses |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Included in net realized gain (loss) on investments | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Included in net change in unrealized appreciation (depreciation) on investments | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; Purchases and Sales/Distributions |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Purchases | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sales/Distributions | &nbsp;&nbsp; — |
| Closing balance at March 31, 2026 | &nbsp;&nbsp; —\* |
| **Net change in unrealized appreciation (depreciation) attributable to investments** <br>**still held at March 31, 2026**<br>| &nbsp;&nbsp; **$—**  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | **FAIR VALUE** <br>**MEASUREMENTS** <br>**USING SIGNIFICANT** <br>**UNOBSERVABLE** <br>**INPUTS (LEVEL 3)**<br>|
| **Alger Mid Cap Growth Portfolio** | **Special Purpose** <br> **Vehicles**<br>|
| Opening balance at January 1, 2026 | &nbsp;&nbsp; $419000 |
| &nbsp;&nbsp;&nbsp; Transfers into Level 3 | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; Transfers out of Level 3 | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; Total gains or losses |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Included in net realized gain (loss) on investments | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Included in net change in unrealized appreciation (depreciation) on investments | &nbsp;&nbsp; 398920 |
| &nbsp;&nbsp;&nbsp; Purchases and Sales/Distributions |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Purchases | &nbsp;&nbsp; 77297 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sales/Distributions | &nbsp;&nbsp; — |
| Closing balance at March 31, 2026 | &nbsp;&nbsp; 895217 |
| **Net change in unrealized appreciation (depreciation) attributable to investments** <br>**still held at March 31, 2026**<br>| &nbsp;&nbsp; **$398920** |

---

------

**THE ALGER PORTFOLIOS**

**NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)** <br>

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | **FAIR VALUE** <br>**MEASUREMENTS** <br>**USING SIGNIFICANT** <br>**UNOBSERVABLE** <br>**INPUTS (LEVEL 3)**<br>|
| **Alger Small Cap Growth Portfolio** | **Common Stocks** |
| Opening balance at January 1, 2026 | &nbsp;&nbsp; $60650 |
| &nbsp;&nbsp;&nbsp; Transfers into Level 3 | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; Transfers out of Level 3 | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; Total gains or losses |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Included in net realized gain (loss) on investments | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Included in net change in unrealized appreciation (depreciation) on investments | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; Purchases and Sales/Distributions |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Purchases | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sales/Distributions | &nbsp;&nbsp; — |
| Closing balance at March 31, 2026 | &nbsp;&nbsp; 60650 |
| **Net change in unrealized appreciation (depreciation) attributable to investments** <br>**still held at March 31, 2026**<br>| &nbsp;&nbsp; **$—**  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | **FAIR VALUE** <br>**MEASUREMENTS** <br>**USING SIGNIFICANT** <br>**UNOBSERVABLE** <br>**INPUTS (LEVEL 3)**<br>|
| **Alger Small Cap Growth Portfolio** | **Preferred Stocks** |
| Opening balance at January 1, 2026 | &nbsp;&nbsp; $857563 |
| &nbsp;&nbsp;&nbsp; Transfers into Level 3 | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; Transfers out of Level 3 | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; Total gains or losses |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Included in net realized gain (loss) on investments | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Included in net change in unrealized appreciation (depreciation) on investments | &nbsp;&nbsp; 704137 |
| &nbsp;&nbsp;&nbsp; Purchases and Sales/Distributions |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Purchases | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sales/Distributions | &nbsp;&nbsp; — |
| Closing balance at March 31, 2026 | &nbsp;&nbsp; 1561700 |
| **Net change in unrealized appreciation (depreciation) attributable to investments** <br>**still held at March 31, 2026**<br>| &nbsp;&nbsp; **$704137** |

---

------

**THE ALGER PORTFOLIOS**

**NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)** <br>

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | **FAIR VALUE** <br>**MEASUREMENTS** <br>**USING SIGNIFICANT** <br>**UNOBSERVABLE** <br>**INPUTS (LEVEL 3)**<br>|
| **Alger Small Cap Growth Portfolio** | **Rights** |
| Opening balance at January 1, 2026 | &nbsp;&nbsp; $60,084\* |
| &nbsp;&nbsp;&nbsp; Transfers into Level 3 | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; Transfers out of Level 3 | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; Total gains or losses |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Included in net realized gain (loss) on investments | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Included in net change in unrealized appreciation (depreciation) on investments | &nbsp;&nbsp; (521)<br>|
| &nbsp;&nbsp;&nbsp; Purchases and Sales/Distributions |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Purchases | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sales/Distributions | &nbsp;&nbsp; — |
| Closing balance at March 31, 2026 | &nbsp;&nbsp; 59,563\* |
| **Net change in unrealized appreciation (depreciation) attributable to investments** <br>**still held at March 31, 2026**<br>| &nbsp;&nbsp; **$(521)** <br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
|  | **FAIR VALUE** <br>**MEASUREMENTS** <br>**USING SIGNIFICANT** <br>**UNOBSERVABLE** <br>**INPUTS (LEVEL 3)**<br>|
| **Alger Small Cap Growth Portfolio** | **Special Purpose** <br> **Vehicles**<br>|
| Opening balance at January 1, 2026 | &nbsp;&nbsp; $746000 |
| &nbsp;&nbsp;&nbsp; Transfers into Level 3 | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; Transfers out of Level 3 | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; Total gains or losses |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Included in net realized gain (loss) on investments | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Included in net change in unrealized appreciation (depreciation) on investments | &nbsp;&nbsp; 712057 |
| &nbsp;&nbsp;&nbsp; Purchases and Sales/Distributions |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Purchases | &nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sales/Distributions | &nbsp;&nbsp; — |
| Closing balance at March 31, 2026 | &nbsp;&nbsp; 1458057 |
| **Net change in unrealized appreciation (depreciation) attributable to investments** <br>**still held at March 31, 2026**<br>| &nbsp;&nbsp; **$712057** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

*\** *Includes securities that were fair valued at zero during the period ended March 31, 2026.*

The following table provides quantitative information about each Portfolio's Level 3 fair value measurements of each Portfolio's investments as of March 31, 2026. The table below is not intended to be all-inclusive, but rather provides information on the Level 3 inputs as they relate to each Portfolio's fair value at March 31, 2026.

------

**THE ALGER PORTFOLIOS**

**NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)** <br>

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Fair Value** <br>**March 31,** <br>**2026**<br>| **Valuation** <br>**Methodology**<br>| **Unobservable** <br>**Input**<br>| **Input/Range** | **Weighted** <br>**Average Inputs**<br>|
| Alger Capital Appreciation Portfolio | Alger Capital Appreciation Portfolio | Alger Capital Appreciation Portfolio | Alger Capital Appreciation Portfolio | Alger Capital Appreciation Portfolio | Alger Capital Appreciation Portfolio |
| **Preferred** <br> **Stocks**<br>| $12045416 | Market <br>Approach<br>| Revenue Multiple | 23.00x | N/A <sup>(a)</sup> <br>|
|  | 1543169 | Market <br>Approach<br>| Transaction Price <sup>(b)</sup> <br>| 0% | N/A <sup>(a)</sup> <br>|
|  | 7955384 | Market Approach <br>Option Pricing Method<br>| Transaction Price <br>Term <br>Voliaility <br>Risk-Free Rate<br>| 0% <br>5 years <br>80.00%-90.00% <br>3.92%<br>| 0% <br>5 years <br>84.64% <br>3.92%<br>|
| **Special** <br> **Purpose** <br> **Vehicles**<br>| 708298 | Market <br>Approach<br>| Transaction Price <sup>(c)</sup> <br>| 0% | N/A <sup>(a)</sup> <br>|
|  | 6058950 | Market Approach <br>Option Pricing Method<br>| Transaction Price <br>Term <br>Volatility <br>Risk-Free Rate<br>| 0% <br>5 years <br>90.00% <br>4.08%<br>| N/A <sup>(a)</sup> <br>N/A <sup>(a)</sup> <br>N/A <sup>(a)</sup> <br>N/A <sup>(a)</sup> <br>|
| Alger Large Cap Growth Portfolio | Alger Large Cap Growth Portfolio | Alger Large Cap Growth Portfolio | Alger Large Cap Growth Portfolio | Alger Large Cap Growth Portfolio | Alger Large Cap Growth Portfolio |
| **Preferred** <br> **Stocks**<br>| 2039679 | Market <br>Approach<br>| Transaction Price <sup>(b)</sup> <br>| 0% | N/A <sup>(a)</sup> <br>|
|  | 11366830 | Market Approach <br>Option Pricing Method<br>| Transaction Price <br>Term <br>Volatility <br>Risk-Free Rate<br>| 0% <br>5 years <br>90.00% <br>3.92%<br>| N/A <sup>(a)</sup> <br>N/A <sup>(a)</sup> <br>N/A <sup>(a)</sup> <br>N/A <sup>(a)</sup> <br>|
| **Special** <br>**Purpose** <br> **Vehicles**<br>| 408231 | Market <br>Approach<br>| Transaction Price <sup>(c)</sup> <br>| 0% | N/A <sup>(a)</sup> <br>|
| Alger Mid Cap Growth Portfolio | Alger Mid Cap Growth Portfolio | Alger Mid Cap Growth Portfolio | Alger Mid Cap Growth Portfolio | Alger Mid Cap Growth Portfolio | Alger Mid Cap Growth Portfolio |
| **Preferred** <br> **Stocks**<br>| 1947969 | Market Approach <br>Option Pricing Method<br>| Transaction Price <br>Term <br>Volatility <br>Risk-Free Rate<br>| 0% <br>5 years <br>80.00%-90.00% <br>3.92%<br>| 0% <br>5 years <br>86.42% <br>3.92%<br>|
| **Rights** |  | Income <br>Approach<br>| Discount Rate <br>Probability of Success<br>| 100% <br>0.00%<br>| N/A <sup>(a)</sup> <br>N/A <sup>(a)</sup> <br>|
| **Special** <br> **Purpose** <br> **Vehicles**<br>| 76281 | Market <br>Approach<br>| Transaction Price <sup>(c)</sup> <br>| 0% | N/A <sup>(a)</sup> <br>|
|  | 818936 | Market Approach <br>Option Pricing Method<br>| Transaction Price <br>Term <br>Volatility <br>Risk-Free Rate<br>| 0% <br>5 years <br>90.00% <br>4.08%<br>| N/A <sup>(a)</sup> <br>N/A <sup>(a)</sup> <br>N/A <sup>(a)</sup> <br>N/A <sup>(a)</sup> <br>|
| Alger Small Cap Growth Portfolio | Alger Small Cap Growth Portfolio | Alger Small Cap Growth Portfolio | Alger Small Cap Growth Portfolio | Alger Small Cap Growth Portfolio | Alger Small Cap Growth Portfolio |
| **Common** <br> **Stocks**<br>| 60650 | Option Pricing Method | Term <br>Volatility <br>Risk-Free Rate<br>| 1 year <br>80.00% <br>3.68%<br>| N/A <sup>(a)</sup> <br>N/A <sup>(a)</sup> <br>N/A <sup>(a)</sup> <br>|

---

------

**THE ALGER PORTFOLIOS**

**NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)** <br>

------

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Fair Value**<br> **March 31,**<br> **2026**<br>| **Valuation**<br> **Methodology**<br>| **Unobservable**<br> **Input**<br>| **Input/Range** | **Weighted**<br> **Average Inputs**<br>|
| **Preferred** <br> **Stocks**<br>| $1349409 | Market Approach <br>Option Pricing Method<br>| Transaction Price <br>Term <br>Volatility <br>Risk-Free Rate<br>| 0% <br>5 years <br>90.00% <br>3.92%<br>| N/A <sup>(a)</sup> <br>N/A <sup>(a)</sup> <br>N/A <sup>(a)</sup> <br>N/A <sup>(a)</sup> <br>|
|  | 212291 | Option Pricing Method | Term <br>Volatility <br>Risk-Free Rate<br>| 1 year <br>80.00% <br>3.68%<br>| N/A <sup>(a)</sup> <br>N/A <sup>(a)</sup> <br>N/A <sup>(a)</sup> <br>|
| **Rights** | 59563 | Income <br>Approach<br>| Discount Rate <br>Probability of Success<br>| 4.87%-100.00% <br>0.00%-40.00%<br>| 4.87% <br>39.70%<br>|
| **Special** <br> **Purpose** <br> **Vehicles**<br>| 1458057 | Market Approach <br>Option Pricing Method<br>| Transaction Price <br>Term <br>Volatility <br>Risk-Free Rate<br>| 0% <br>5 years <br>90.00% <br>4.08%<br>| N/A <sup>(a)</sup> <br>N/A <sup>(a)</sup> <br>N/A <sup>(a)</sup> <br>N/A <sup>(a)</sup> <br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> *Each security type listed and respective valuation methodology and unobservable input, represents only one* *investment.* 

<sup>(b)</sup> *Fair value was determined based on the recent acquisition price (transaction price) as a best measure of fair value* *with no material changes in valuation assumptions since the acquisition date of March 31, 2026.* 

<sup>(c)</sup> *Fair value was determined based on the recent acquisition price (transaction price) as a best measure of fair value* *with no material changes in valuation assumptions since the acquisition dates of March 2, 2026 and March 31, 2026.* 

The significant unobservable inputs used in the fair value measurement of each Portfolio's securities are revenue, bookings, EBITDA multiples, publicly traded comparable securities' market value and revenue multiples, transaction pricing, discount rates, and the probability 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 revenues, bookings, and EBITDA multiples, decreases in discount rates, and increases in the probability of success result in higher fair value measurements, whereas decreases in revenues, bookings, and EBITDA multiples, increases in discount rates, and decreases in the probability of success result in lower fair value measurements. For the period ended March 31, 2026, there were no changes in valuation methodology on Level 3 investments.

**NOTE 4 — Affiliated Securities:**

------

During the period ended March 31, 2026, as disclosed in the following table, certain Portfolios held 5% or more of the outstanding voting securities of the issuers listed below. As such, these issuers were "affiliated persons" of the Portfolio(s) for purposes of the 1940 Act. Transactions during the period ended March 31, 2026 with such affiliated persons are summarized below. During this period, other Portfolio's of the Fund may also have held voting shares of the issuers at levels below 5%.

------

**THE ALGER PORTFOLIOS**

**NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)** <br>

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security** | **Shares** <br>**Held at** <br>**December 31,** <br>**2025**<br>| **Shares** <br>**Purchased**<br>| **Shares** <br>**Sold**<br>| **Shares** <br>**Held at** <br>**March 31,** <br>**2026**<br>| **Dividend** <br>**Income**<br>| **Realized** <br>**Gain (Loss)**<br>| **Net Change** <br>**in** <br>**Unrealized** <br>**App (Dep)**<br>| **Value at** <br>**March 31,** <br>**2026**<br>|
| **Alger Large Cap Growth Portfolio** | **Alger Large Cap Growth Portfolio** | **Alger Large Cap Growth Portfolio** | **Alger Large Cap Growth Portfolio** | **Alger Large Cap Growth Portfolio** | **Alger Large Cap Growth Portfolio** | **Alger Large Cap Growth Portfolio** | **Alger Large Cap Growth Portfolio** | **Alger Large Cap Growth Portfolio** |
| **Exchange Traded Funds** | **Exchange Traded Funds** | **Exchange Traded Funds** | **Exchange Traded Funds** | **Exchange Traded Funds** | **Exchange Traded Funds** | **Exchange Traded Funds** | **Exchange Traded Funds** | **Exchange Traded Funds** |
| Alger 35 ETF | &nbsp;&nbsp; 353188 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 353188 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(1236157)<br>| &nbsp;&nbsp; $11079508 |
| **Mutual Funds** | **Mutual Funds** | **Mutual Funds** | **Mutual Funds** | **Mutual Funds** | **Mutual Funds** | **Mutual Funds** | **Mutual Funds** | **Mutual Funds** |
| Alger 35 Fund | &nbsp;&nbsp; 559471 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 559471 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (906343)<br>| &nbsp;&nbsp; 9980968 |
| **Total** | &nbsp;&nbsp; 912659 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 912659 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $(2142500)<br>| &nbsp;&nbsp; $21060476 |

---

------

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** ALGER PORTFOLIOS

- **b. Investment Company Act file number:** 811-05550

- **c. CIK number of Registrant:** 0000832566

- **d. LEI of Registrant:** 549300UKPZYN43DVIJ51

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 100 Pearl Street

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10004-6030

  - **Telephone number:** 212-806-8800

**Item A.2. Information about the Series.**

- **a. Name of Series:** Alger Small Cap Growth Portfolio

- **b. EDGAR series identifier (if any):** S000009215

- **c. LEI of Series:** 5493006DIIVPNP30YX16

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-12-31

- **b. Date as of which information is reported:** 2026-03-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $131055620.80

**Total Liabilities:** $154566.16

**Net Assets:** $130901054.64

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000025026 | 1.29%                | -1.80%               | -7.01%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $981783.59               | $993135.07                                 |
| Month 2  | $-169600.79              | $-2364389.17                               |
| Month 3  | $802467.50               | $-10658983.18                              |

### Schedule of Portfolio Investments

| Name                                         | Title                                                         | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Abercrombie & Fitch Co                       | Abercrombie & Fitch Co CL A                                   | CUSIP: 002896207<br>LEI: 5493000J7LL72TOGT983 | Long             | EC               | CORP              | US        |      5346 | NS      | $488464.02    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| MIRATI THERAPEUTICS INC                      | MIRATI THERAPEUTICS INC                                       | CUSIP: 604CVR027<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6941 | NS      | $8051.56      | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Twist Bioscience Corporation                 | Twist Bioscience Corporation COM                              | CUSIP: 90184D100<br>LEI: 549300T23BL59LCOH584 | Long             | EC               | CORP              | US        |     26830 | NS      | $1274961.60   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Nuvalent Inc                                 | Nuvalent Inc COM                                              | CUSIP: 670703107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     27129 | NS      | $2779366.05   | 2.12%             |  |  |  | No            |                  1 | On Loan: No      |
| DISRUPTIVE TECHNOLOGY SOL                    | DISRUPTIVE TECHNOLOGY SOL                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7460 | NS      | $1458057.00   | 1.11%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Guardant Health Inc                          | Guardant Health Inc COM                                       | CUSIP: 40131M109<br>LEI: 254900M8C3E5VC8BR186 | Long             | EC               | CORP              | US        |     37875 | NS      | $3498513.75   | 2.67%             |  |  |  | No            |                  1 | On Loan: No      |
| CHIME FINANCIAL INC                          | Chime Financial Inc. COM SHS CL A                             | CUSIP: 16935C109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     41609 | NS      | $779336.57    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Manhattan Associates Inc                     | Manhattan Associates Inc COM                                  | CUSIP: 562750109<br>LEI: 529900Q1GJP7KD52SW51 | Long             | EC               | CORP              | US        |     12629 | NS      | $1681172.48   | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| ARCHER AVIATION INC (NEW)                    | Archer Aviation Inc COM CL A                                  | CUSIP: 03945R102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     64896 | NS      | $335512.32    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Insmed Inc                                   | Insmed Inc COM PAR $.01                                       | CUSIP: 457669307<br>LEI: 529900Q55QAG41CCAC11 | Long             | EC               | CORP              | US        |     19288 | NS      | $3153973.76   | 2.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Reddit Inc                                   | Reddit Inc CL A                                               | CUSIP: 75734B100<br>LEI: 529900APN1YHPBHPI679 | Long             | EC               | CORP              | US        |      5335 | NS      | $718357.75    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Ionq Inc                                     | Ionq Inc COM                                                  | CUSIP: 46222L108<br>LEI: 529900RB2VEFGLQS7G28 | Long             | EC               | CORP              | US        |     20506 | NS      | $591187.98    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Planet Fitness Inc.                          | Planet Fitness Inc. CL A                                      | CUSIP: 72703H101<br>LEI: 549300LLE5HUPF6H8G33 | Long             | EC               | CORP              | US        |     20418 | NS      | $1518690.84   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Modine Manufacturing Co.                     | Modine Manufacturing Co. COM                                  | CUSIP: 607828100<br>LEI: Z35SZFYJR8GZZRSIUU09 | Long             | EC               | CORP              | US        |      6003 | NS      | $1300910.13   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Q2 Holdings Inc                              | Q2 Holdings Inc COM                                           | CUSIP: 74736L109<br>LEI: 549300M9RKR9DZXWS696 | Long             | EC               | CORP              | US        |     27857 | NS      | $1317636.10   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Nebius Group N.V.                            | Nebius Group N.V. COM USD0.01 CL 'A'                          | CUSIP: 000000000<br>LEI: 549300GGZHJ5Q1B18P93 | Long             | EC               | CORP              | NL        |     26151 | NS      | $2713427.76   | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Galaxy Digital Inc.                          | Galaxy Digital Inc. CL A                                      | CUSIP: 36317J209<br>LEI: 9845001C4070E5N07806 | Long             | EC               | CORP              | US        |     36130 | NS      | $666598.50    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Bio-Techne Corp                              | Bio-Techne Corp COM                                           | CUSIP: 09073M104<br>LEI: 54930073RLKQ51TILZ35 | Long             | EC               | CORP              | US        |     27729 | NS      | $1449117.54   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Abivax SA                                    | Abivax SA SPONSORED ADS                                       | CUSIP: 00370M103<br>LEI: 969500D8TMNB184OJU95 | Long             | EC               | CORP              | FR        |     19561 | NS      | $2178117.35   | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Gates Industrial Corp PLC                    | Gates Industrial Corp PLC COM USD0.01                         | CUSIP: 000000000<br>LEI: 549300S6K4FWUSB9KM27 | Long             | EC               | CORP              | GB        |    107105 | NS      | $2421644.05   | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Adaptive Biotechnologies Corp                | Adaptive Biotechnologies Corp COM                             | CUSIP: 00650F109<br>LEI: 549300ZTF7OT1FW66Q96 | Long             | EC               | CORP              | US        |    174425 | NS      | $2421019.00   | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| 10X Genomics Inc                             | 10X Genomics Inc CL A COM                                     | CUSIP: 88025U109<br>LEI: 5493003Z6741WNLG7H43 | Long             | EC               | CORP              | US        |     35741 | NS      | $758781.43    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| JOBY AVIATION INC                            | Joby Aviation Inc. COM USD0.0001                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    227131 | NS      | $1876102.06   | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Howmet Aerospace Inc                         | Howmet Aerospace Inc COM                                      | CUSIP: 443201108<br>LEI: 549300HO5WFZUT5N2T22 | Long             | EC               | CORP              | US        |      3769 | NS      | $868603.74    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Bombardier Inc.                              | Bombardier Inc. CL B NEW                                      | CUSIP: 097751861<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | EC               | CORP              | CA        |     13796 | NS      | $2439861.92   | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Loar Holdings Inc                            | Loar Holdings Inc COM SHS                                     | CUSIP: 53947R105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15578 | NS      | $892463.62    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Dreyfus Treasury Obligations Cash Management | Dreyfus Treasury Obligations Cash Management TREASURY INSTNAL | CUSIP: 261908107<br>LEI: 549300MKKM9KT7BF6329 | Long             | STIV             | RF                | US        |   3468076 | NS      | $3468075.79   | 2.65%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERDIGITAL INC                             | InterDigital, Inc. COM                                        | CUSIP: 45867G101<br>LEI: 529900HQAUTC3VI47G64 | Long             | EC               | CORP              | US        |      6581 | NS      | $1987462.00   | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| TOLERO DCR                                   | TOLERO DCR                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    287830 | NS      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Soleno Therapeutics Inc                      | Soleno Therapeutics Inc COM                                   | CUSIP: 834203309<br>LEI: 5493003LCY77N7FXK844 | Long             | EC               | CORP              | US        |      9163 | NS      | $306777.24    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| SB TECHNOLOGY CORP                           | SB Technology, Inc. Series E Preferred Stock                  | CUSIP: 805991551<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     37494 | NS      | $1349409.06   | 1.03%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Idacorp Inc                                  | Idacorp Inc COM                                               | CUSIP: 451107106<br>LEI: N134NUJDWN8UEFA8B673 | Long             | EC               | CORP              | US        |      4972 | NS      | $710846.84    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Fabrinet                                     | Fabrinet COM USD0.01                                          | CUSIP: 000000000<br>LEI: 5493004TETZ6IYF7CV44 | Long             | EC               | CORP              | KY        |      3391 | NS      | $1768474.32   | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Belite Bio Inc                               | Belite Bio Inc SPONSORED ADS                                  | CUSIP: 07782B104<br>LEI: 984500BD54036BOEAE79 | Long             | EC               | CORP              | KY        |       489 | NS      | $77966.16     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| IMPULSE DYNAMICS IRELAND                     | IMPULSE DYNAMICS IRELAND                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1596061 | NS      | $60650.32     | 0.05%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Cryoport Inc                                 | Cryoport Inc COM PAR $0.001                                   | CUSIP: 229050307<br>LEI: 9845004D8538BT8JF626 | Long             | EC               | CORP              | US        |    133790 | NS      | $1107781.20   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Centessa Pharmaceuticals plc                 | Centessa Pharmaceuticals plc SPONSORED ADS                    | CUSIP: 152309100<br>LEI: 213800GIDAARDSKOI827 | Long             | EC               | CORP              | GB        |     29578 | NS      | $1174838.16   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Moelis & Co.                                 | Moelis & Co. CL A                                             | CUSIP: 60786M105<br>LEI: 549300891QNU7VTQUR83 | Long             | EC               | CORP              | US        |     10075 | NS      | $574275.00    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| HEARTFLOW INC                                | HeartFlow Inc. COM                                            | CUSIP: 42238D107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     32957 | NS      | $801843.81    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Bloom Energy Corporation                     | Bloom Energy Corporation COM CL A                             | CUSIP: 093712107<br>LEI: 549300XB5J9BFW5JXV97 | Long             | EC               | CORP              | US        |     12090 | NS      | $1638074.10   | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Core Scientific Inc                          | Core Scientific Inc COM                                       | CUSIP: 21874A106<br>LEI: 5299003RGB2LAZ65RK73 | Long             | EC               | CORP              | US        |     19750 | NS      | $295460.00    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Planet Labs Pbc                              | Planet Labs Pbc COM CL A                                      | CUSIP: 72703X106<br>LEI: 254900Q7PVI3HTQBRB44 | Long             | EC               | CORP              | US        |     18375 | NS      | $513581.25    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Credo Technology Group Holding Ltd           | Credo Technology Group Holding Ltd ORDINARY SHARES            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     12635 | NS      | $1186047.45   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Penumbra Inc.                                | Penumbra Inc. COM                                             | CUSIP: 70975L107<br>LEI: 549300RGE06P3ECANU72 | Long             | EC               | CORP              | US        |      3724 | NS      | $1222849.88   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| CELSIUS HOLDINGS INC                         | Celsius Holdings Inc. COM NEW                                 | CUSIP: 15118V207<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12320 | NS      | $437113.60    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| AeroVironment, Inc.                          | AeroVironment, Inc. COM                                       | CUSIP: 008073108<br>LEI: 529900PGHVI29YLZ6221 | Long             | EC               | CORP              | US        |      4475 | NS      | $819148.75    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Glaukos Corp.                                | Glaukos Corp. COM                                             | CUSIP: 377322102<br>LEI: 5299004JA1LHE21M6T14 | Long             | EC               | CORP              | US        |      4133 | NS      | $444958.78    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| KARMAN HOLDINGS INC                          | Karman Holdings Inc. COMMON STOCK                             | CUSIP: 485924104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11666 | NS      | $933863.30    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Ncino Inc.                                   | Ncino Inc. COM                                                | CUSIP: 63947X101<br>LEI: 549300WVRR2WR3L6MZ46 | Long             | EC               | CORP              | US        |     29023 | NS      | $434764.54    | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Caredx Inc                                   | Caredx Inc COM                                                | CUSIP: 14167L103<br>LEI: 549300NQOFKL9NON0U06 | Long             | EC               | CORP              | US        |     46805 | NS      | $812534.80    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Balchem Corp                                 | Balchem Corp COM                                              | CUSIP: 057665200<br>LEI: 549300VR70OPMHUI3557 | Long             | EC               | CORP              | US        |      6949 | NS      | $1177716.52   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Saia Inc                                     | Saia Inc COM                                                  | CUSIP: 78709Y105<br>LEI: 549300WNPG4N9GBOYB29 | Long             | EC               | CORP              | US        |      1962 | NS      | $689211.36    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Tutor Perini Corporation                     | Tutor Perini Corporation COM                                  | CUSIP: 901109108<br>LEI: 549300FHXYVPW8LJ6D98 | Long             | EC               | CORP              | US        |     39948 | NS      | $3083586.12   | 2.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Life Time Group Holdings Inc                 | Life Time Group Holdings Inc COMMON STOCK                     | CUSIP: 53190C102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     21769 | NS      | $586456.86    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Universal Technical Institute, Inc.          | Universal Technical Institute, Inc. COM                       | CUSIP: 913915104<br>LEI: 2549003YOJGAZ0PVFV48 | Long             | EC               | CORP              | US        |     34116 | NS      | $1231587.60   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Construction Partners Inc.                   | Construction Partners Inc. COM CL A                           | CUSIP: 21044C107<br>LEI: 549300MHLFL4E8JLZU44 | Long             | EC               | CORP              | US        |      2830 | NS      | $314469.60    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| UNIVERSAL DISPLAY CORP                       | Universal Display Corp. COM                                   | CUSIP: 91347P105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12336 | NS      | $1130717.76   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| WHITEFIBER INC                               | WhiteFiber Inc. SHS                                           | CUSIP: 000000000<br>LEI: 254900VTG8XTRF3IQN65 | Long             | EC               | CORP              | KY        |     25700 | NS      | $306087.00    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Maxcyte Inc                                  | Maxcyte Inc COM                                               | CUSIP: 57777K106<br>LEI: 54930053YHXULRFCU991 | Long             | EC               | CORP              | US        |    135576 | NS      | $95242.14     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Enovix Corporation                           | Enovix Corporation COM                                        | CUSIP: 293594107<br>LEI: 549300EC7NZGWORHYJ53 | Long             | EC               | CORP              | US        |    110720 | NS      | $573529.60    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| RBC Bearings Inc                             | RBC Bearings Inc COM                                          | CUSIP: 75524B104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10603 | NS      | $5758701.36   | 4.40%             |  |  |  | No            |                  1 | On Loan: No      |
| KURA SUSHI USA INC                           | Kura Sushi USA Inc. CL A COM                                  | CUSIP: 501270102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8017 | NS      | $559506.43    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| FUSION PHARMACEUTICALS INC                   | FUSION PHARMACEUTICALS INC                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     45185 | NS      | $51510.90     | 0.04%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Forte Biosciences Inc.                       | Forte Biosciences Inc. COM NEW                                | CUSIP: 34962G208<br>LEI: 529900Z84WFDHPS3JP76 | Long             | EC               | CORP              | US        |    128020 | NS      | $3315718.00   | 2.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Riot Platforms Inc                           | Riot Platforms Inc COM                                        | CUSIP: 767292105<br>LEI: 5299005LKZAJQDQZDF73 | Long             | EC               | CORP              | US        |     24522 | NS      | $303091.92    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| VSE Corp.                                    | VSE Corp. COM                                                 | CUSIP: 918284100<br>LEI: 549300QWJYQDH4U5XI15 | Long             | EC               | CORP              | US        |      6838 | NS      | $1260927.20   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| BJ Wholesale Club Holdings Inc               | BJ Wholesale Club Holdings Inc COM                            | CUSIP: 05550J101<br>LEI: 549300UCIWH1C93V0J03 | Long             | EC               | CORP              | US        |     26037 | NS      | $2562561.54   | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Uniqure N.V.                                 | Uniqure N.V. COM EUR0.05                                      | CUSIP: 000000000<br>LEI: 724500RPCTZLFYJZ3S98 | Long             | EC               | CORP              | NL        |      8495 | NS      | $138893.25    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| IMPULSE DYNAMICS IRELAND                     | IMPULSE DYNAMICS IRELAND                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   3724402 | NS      | $212290.91    | 0.16%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Neogen Corp                                  | Neogen Corp COM                                               | CUSIP: 640491106<br>LEI: 549300HJT9FC36N4UW43 | Long             | EC               | CORP              | US        |     53049 | NS      | $492825.21    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Integer Holdings Corp.                       | Integer Holdings Corp. COM                                    | CUSIP: 45826H109<br>LEI: 549300SUD2ED5XG6X569 | Long             | EC               | CORP              | US        |      5801 | NS      | $510488.00    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Bridgebio Pharma Inc                         | Bridgebio Pharma Inc COM                                      | CUSIP: 10806X102<br>LEI: 54930028YG89VTY2J114 | Long             | EC               | CORP              | US        |      7645 | NS      | $567717.70    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Guidewire Software Inc                       | Guidewire Software Inc COM                                    | CUSIP: 40171V100<br>LEI: 549300WXSG0J8IXZCK32 | Long             | EC               | CORP              | US        |     14413 | NS      | $2155608.28   | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Xometry Inc                                  | Xometry Inc CLASS A COM                                       | CUSIP: 98423F109<br>LEI: 5493006JFRGU7YRRXE44 | Long             | EC               | CORP              | US        |      4642 | NS      | $189579.28    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| NATERA INC                                   | Natera Inc. COM                                               | CUSIP: 632307104<br>LEI: 529900CQ3OZ0A0VYVU59 | Long             | EC               | CORP              | US        |     12595 | NS      | $2518874.05   | 1.92%             |  |  |  | No            |                  1 | On Loan: No      |
| MarketAxess Holdings Inc.                    | MarketAxess Holdings Inc. COM                                 | CUSIP: 57060D108<br>LEI: 5493002U1CA1XJOVID83 | Long             | EC               | CORP              | US        |      4259 | NS      | $702649.82    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Dianthus Therapeutics Inc                    | Dianthus Therapeutics Inc COM                                 | CUSIP: 252828108<br>LEI: 549300Z3N6ODPCOFC890 | Long             | EC               | CORP              | US        |      1953 | NS      | $163895.76    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Wix.com Limited                              | Wix.com Limited COM ILS0.01                                   | CUSIP: 000000000<br>LEI: 5493008P6N29Q1AG9464 | Long             | EC               | CORP              | IL        |      7469 | NS      | $672732.83    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Repligen Corporation                         | Repligen Corporation COM                                      | CUSIP: 759916109<br>LEI: 54930006QJ0T5AUO1E71 | Long             | EC               | CORP              | US        |     11780 | NS      | $1387919.60   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Lantheus Holdings Inc                        | Lantheus Holdings Inc COM                                     | CUSIP: 516544103<br>LEI: 5299005HUB5IOJGO7S39 | Long             | EC               | CORP              | US        |      9726 | NS      | $737717.10    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Aritzia Inc                                  | Aritzia Inc SUB VTG SHS                                       | CUSIP: 04045U102<br>LEI: 549300U83HKFRL1EX527 | Long             | EC               | CORP              | CA        |     42397 | NS      | $3459785.38   | 2.64%             |  |  |  | No            |                  1 | On Loan: No      |
| GeneDx Holdings Corp                         | GeneDx Holdings Corp COM CL A                                 | CUSIP: 81663L200<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     35443 | NS      | $2276149.46   | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Shake Shack Inc                              | Shake Shack Inc CL A                                          | CUSIP: 819047101<br>LEI: 529900J74GJAHYP80N79 | Long             | EC               | CORP              | US        |     17872 | NS      | $1581135.84   | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Tempus AI Inc.                               | Tempus AI Inc. CL A                                           | CUSIP: 88023B103<br>LEI: 2549009LA0KWRAGQBX50 | Long             | EC               | CORP              | US        |     10839 | NS      | $490139.58    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackline Inc                                | Blackline Inc COM                                             | CUSIP: 09239B109<br>LEI: 529900P9N7PK9LV5EK56 | Long             | EC               | CORP              | US        |     23074 | NS      | $853738.00    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Casella Waste Systems, Inc.                  | Casella Waste Systems, Inc. CL A                              | CUSIP: 147448104<br>LEI: 8EU0XUFVJ48U37IIDH51 | Long             | EC               | CORP              | US        |      5088 | NS      | $403681.92    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Astronics Corp.                              | Astronics Corp. COM                                           | CUSIP: 046433108<br>LEI: 549300NNXCF8H4MSMK17 | Long             | EC               | CORP              | US        |      8394 | NS      | $560131.62    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| GEMINI SPACE STATION INC                     | Gemini Space Station Inc. CL A COM                            | CUSIP: 36866J105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       850 | NS      | $3757.00      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Astera Labs Inc                              | Astera Labs Inc COM                                           | CUSIP: 04626A103<br>LEI: 529900LJL8TUEGF7HG20 | Long             | EC               | CORP              | US        |     16648 | NS      | $1824620.80   | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Victorias Secret and Co                      | Victorias Secret and Co COMMON STOCK                          | CUSIP: 926400102<br>LEI: 5493006T3O70U3UWVF17 | Long             | EC               | CORP              | US        |     47408 | NS      | $2197834.88   | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| ABSCI CORP                                   | Absci Corp. COM                                               | CUSIP: 00091E109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    339522 | NS      | $1018566.00   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| MAGNOLIA OIL & GAS CORP                      | Magnolia Oil & Gas Corporation CL A                           | CUSIP: 559663109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    138742 | NS      | $4380084.94   | 3.35%             |  |  |  | No            |                  1 | On Loan: No      |
| PAR Technology Corp.                         | PAR Technology Corp. COM                                      | CUSIP: 698884103<br>LEI: 549300HYPTHBJQINVG57 | Long             | EC               | CORP              | US        |      4898 | NS      | $65290.34     | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Impinj Inc                                   | Impinj Inc COM                                                | CUSIP: 453204109<br>LEI: 549300M26VGKSMMWWN17 | Long             | EC               | CORP              | US        |      5691 | NS      | $584465.70    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| COGENT BIOSCIENCES INC                       | Cogent Biosciences Inc. COM                                   | CUSIP: 19240Q201<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     21829 | NS      | $840198.21    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Arrowhead Pharmaceuticals Inc                | Arrowhead Pharmaceuticals Inc COM                             | CUSIP: 04280A100<br>LEI: 549300O3CSB8T7OZ3D66 | Long             | EC               | CORP              | US        |     30978 | NS      | $1942320.60   | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| IRHYTHM HOLDINGS INC                         | iRhythm Holdings Inc. COM                                     | CUSIP: 450056106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11119 | NS      | $1312264.38   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertex Inc                                   | Vertex Inc CL A                                               | CUSIP: 92538J106<br>LEI: 549300QMYW171MP1PL50 | Long             | EC               | CORP              | US        |     33353 | NS      | $396567.17    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Hamilton Lane Inc                            | Hamilton Lane Inc CL A                                        | CUSIP: 407497106<br>LEI: 5493006OKN3V1NORM833 | Long             | EC               | CORP              | US        |      4226 | NS      | $420064.40    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| TransMedics Group Inc.                       | TransMedics Group Inc. COM                                    | CUSIP: 89377M109<br>LEI: 549300060GVOSMWARH50 | Long             | EC               | CORP              | US        |     11668 | NS      | $1159915.88   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| CSW Industrials Inc.                         | CSW Industrials Inc. COM                                      | CUSIP: 126402106<br>LEI: 549300SYOEO3RVQ7FB83 | Long             | EC               | CORP              | US        |      7801 | NS      | $2032784.58   | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Netskope Inc.                                | Netskope Inc. CL A                                            | CUSIP: 64119N608<br>LEI: 254900CS525VJG6KO570 | Long             | EC               | CORP              | US        |      2646 | NS      | $22464.54     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| SPS Commerce Inc                             | SPS Commerce Inc COM                                          | CUSIP: 78463M107<br>LEI: 2549006XVF9GCCETDQ72 | Long             | EC               | CORP              | US        |     24641 | NS      | $1371764.47   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Palvella Therapeutics Inc.                   | Palvella Therapeutics Inc. COM                                | CUSIP: 697947109<br>LEI: 254900AJDH8PAOOI5T33 | Long             | EC               | CORP              | US        |      5769 | NS      | $719105.85    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Terawulf Inc                                 | Terawulf Inc COM                                              | CUSIP: 88080T104<br>LEI: 254900CVMW1SX2T78A64 | Long             | EC               | CORP              | US        |     78289 | NS      | $1129710.27   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| YORK SPACE SYSTEMS INC                       | York Space Systems Inc. COM                                   | CUSIP: 987084100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       599 | NS      | $13279.83     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Rambus Inc.                                  | Rambus Inc. COM                                               | CUSIP: 750917106<br>LEI: 2549000211GDCQSLV833 | Long             | EC               | CORP              | US        |     22253 | NS      | $1914425.59   | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| FTAI Aviation Ltd                            | FTAI Aviation Ltd COM USD0.01                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |     11841 | NS      | $2901045.00   | 2.22%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-05-28

**Name of Applicant:** ALGER FUNDS

**Signature:** Michael D. Martins

**Name of Signer:** Michael D. Martins

**Title:** Treasurer