|
SHARES
|
VALUE
|
||
COMMON STOCKS—99.8%
|
||||
AEROSPACE & DEFENSE—2.9%
|
||||
HEICO Corp.
|
79,107
|
$ 14,206,826
|
||
HEICO Corp., Cl. A
|
50,154
|
7,095,286
|
||
TransDigm Group, Inc.
|
28,379
|
31,009,166
|
||
|
||||
|
||||
|
|
52,311,278
|
||
APPAREL RETAIL—0.4%
|
||||
Burlington Stores, Inc.*
|
36,329
|
6,944,288
|
||
APPLICATION SOFTWARE—3.6%
|
||||
Adobe, Inc.*
|
50,127
|
30,967,458
|
||
ANSYS, Inc.*
|
8,191
|
2,685,256
|
||
Cadence Design Systems, Inc.*
|
48,125
|
13,882,137
|
||
Intuit, Inc.
|
22,309
|
14,084,341
|
||
Synopsys, Inc.*
|
4,468
|
2,383,008
|
||
|
||||
|
||||
|
|
64,002,200
|
||
ASSET MANAGEMENT & CUSTODY BANKS—0.3%
|
||||
Blackstone, Inc.
|
36,952
|
4,598,676
|
||
AUTOMOBILE MANUFACTURERS—0.9%
|
||||
Tesla, Inc.*
|
85,625
|
16,036,706
|
||
AUTOMOTIVE PARTS & EQUIPMENT—0.5%
|
||||
Mobileye Global, Inc., Cl. A*
|
320,034
|
8,276,079
|
||
BIOTECHNOLOGY—5.3%
|
||||
Amgen, Inc.
|
51,752
|
16,263,584
|
||
Immunovant, Inc.*
|
98,056
|
3,570,219
|
||
Natera, Inc.*
|
581,947
|
38,373,585
|
||
Regeneron Pharmaceuticals, Inc.*
|
8,032
|
7,572,409
|
||
Sarepta Therapeutics, Inc.*
|
34,969
|
4,160,961
|
||
Vaxcyte, Inc.*
|
195,080
|
13,932,614
|
||
Vertex Pharmaceuticals, Inc.*
|
24,022
|
10,410,654
|
||
|
||||
|
||||
|
|
94,284,026
|
||
BROADLINE RETAIL—9.5%
|
||||
Amazon.com, Inc.*
|
850,895
|
132,058,904
|
||
MercadoLibre, Inc.*
|
23,093
|
39,530,828
|
||
|
||||
|
||||
|
|
171,589,732
|
||
CARGO GROUND TRANSPORTATION—0.4%
|
||||
Old Dominion Freight Line, Inc.
|
20,138
|
7,874,361
|
||
CASINOS & GAMING—0.7%
|
||||
DraftKings, Inc., Cl. A*
|
240,250
|
9,381,762
|
||
Flutter Entertainment PLC*
|
19,083
|
3,916,902
|
||
|
||||
|
||||
|
|
13,298,664
|
||
CONSTRUCTION & ENGINEERING—0.5%
|
||||
Quanta Services, Inc.
|
49,835
|
9,670,482
|
|
SHARES
|
VALUE
|
||
COMMON STOCKS—99.8% (CONT.)
|
||||
CONSTRUCTION MACHINERY & HEAVY TRANSPORTATION EQUIPMENT—0.8%
|
||||
Wabtec Corp.
|
105,231
|
$ 13,845,243
|
||
CONSTRUCTION MATERIALS—1.3%
|
||||
Martin Marietta Materials, Inc.
|
46,764
|
23,775,753
|
||
DIVERSIFIED BANKS—0.3%
|
||||
Citigroup, Inc.
|
79,851
|
4,485,231
|
||
DIVERSIFIED SUPPORT SERVICES—0.1%
|
||||
Cintas Corp.
|
3,813
|
2,305,225
|
||
ELECTRICAL COMPONENTS & EQUIPMENT—1.6%
|
||||
Eaton Corp. PLC
|
25,511
|
6,277,747
|
||
Vertiv Holdings Co., Cl. A
|
411,776
|
23,195,342
|
||
|
||||
|
||||
|
|
29,473,089
|
||
ENVIRONMENTAL & FACILITIES SERVICES—1.1%
|
||||
GFL Environmental, Inc.
|
590,909
|
20,073,179
|
||
FINANCIAL EXCHANGES & DATA—1.5%
|
||||
S&P Global, Inc.
|
61,336
|
27,499,996
|
||
HEALTHCARE DISTRIBUTORS—0.7%
|
||||
McKesson Corp.
|
26,183
|
13,088,620
|
||
HEALTHCARE EQUIPMENT—4.0%
|
||||
Boston Scientific Corp.*
|
373,988
|
23,658,481
|
||
Dexcom, Inc.*
|
74,863
|
9,084,625
|
||
Intuitive Surgical, Inc.*
|
57,535
|
21,760,888
|
||
Stryker Corp.
|
32,854
|
11,021,860
|
||
TransMedics Group, Inc.*
|
70,081
|
6,010,847
|
||
|
||||
|
||||
|
|
71,536,701
|
||
HEALTHCARE FACILITIES—0.8%
|
||||
Acadia Healthcare Co., Inc.*
|
180,481
|
14,824,709
|
||
HOMEBUILDING—0.2%
|
||||
D.R. Horton, Inc.
|
29,827
|
4,262,577
|
||
HOMEFURNISHING RETAIL—0.1%
|
||||
Wayfair, Inc., Cl. A*
|
35,548
|
1,786,287
|
||
HOTELS RESORTS & CRUISE LINES—0.4%
|
||||
Booking Holdings, Inc.*
|
1,282
|
4,496,576
|
||
Hilton Worldwide Holdings, Inc.
|
12,458
|
2,378,980
|
||
|
||||
|
||||
|
|
6,875,556
|
||
INTERACTIVE MEDIA & SERVICES—11.6%
|
||||
Alphabet, Inc., Cl. C*
|
495,955
|
70,326,419
|
||
Meta Platforms, Inc., Cl. A*
|
271,248
|
105,824,695
|
||
Pinterest, Inc., Cl. A*
|
757,794
|
28,394,541
|
||
Snap, Inc., Cl. A*
|
235,635
|
3,744,240
|
||
|
||||
|
||||
|
|
208,289,895
|
|
SHARES
|
VALUE
|
||
COMMON STOCKS—99.8% (CONT.)
|
||||
INTERNET SERVICES & INFRASTRUCTURE—0.6%
|
||||
MongoDB, Inc.*
|
20,946
|
$ 8,389,292
|
||
Shopify, Inc., Cl. A*
|
35,333
|
2,829,113
|
||
|
||||
|
||||
|
|
11,218,405
|
||
IT CONSULTING & OTHER SERVICES—0.3%
|
||||
EPAM Systems, Inc.*
|
20,726
|
5,764,108
|
||
LIFE SCIENCES TOOLS & SERVICES—0.7%
|
||||
Danaher Corp.
|
50,382
|
12,087,146
|
||
MANAGED HEALTHCARE—0.5%
|
||||
UnitedHealth Group, Inc.
|
18,017
|
9,220,020
|
||
MOVIES & ENTERTAINMENT—2.8%
|
||||
Liberty Media Corp. Series C Liberty Formula One*
|
174,699
|
11,748,508
|
||
Netflix, Inc.*
|
55,739
|
31,442,927
|
||
Spotify Technology SA*
|
32,024
|
6,896,368
|
||
|
||||
|
||||
|
|
50,087,803
|
||
OIL & GAS EQUIPMENT & SERVICES—0.4%
|
||||
Schlumberger NV
|
136,392
|
6,642,290
|
||
OIL & GAS EXPLORATION & PRODUCTION—0.5%
|
||||
Diamondback Energy, Inc.
|
61,735
|
9,491,139
|
||
OIL & GAS STORAGE & TRANSPORTATION—0.5%
|
||||
Cheniere Energy, Inc.
|
52,857
|
8,668,019
|
||
PASSENGER GROUND TRANSPORTATION—0.9%
|
||||
Uber Technologies, Inc.*
|
235,774
|
15,388,969
|
||
PHARMACEUTICALS—1.2%
|
||||
Eli Lilly & Co.
|
34,503
|
22,275,482
|
||
SEMICONDUCTORS—15.5%
|
||||
Advanced Micro Devices, Inc.*
|
187,621
|
31,462,165
|
||
Broadcom, Inc.
|
16,056
|
18,946,080
|
||
Marvell Technology, Inc.
|
484,558
|
32,804,577
|
||
Micron Technology, Inc.
|
199,312
|
17,091,004
|
||
NVIDIA Corp.
|
246,918
|
151,921,238
|
||
Taiwan Semiconductor Manufacturing Co., Ltd. ADR
|
238,810
|
26,975,978
|
||
|
||||
|
||||
|
|
279,201,042
|
||
SYSTEMS SOFTWARE—16.5%
|
||||
Microsoft Corp.
|
708,830
|
281,816,631
|
||
ServiceNow, Inc.*
|
18,282
|
13,993,043
|
||
|
||||
|
||||
|
|
295,809,674
|
||
TECHNOLOGY HARDWARE STORAGE & PERIPHERALS—6.9%
|
||||
Apple, Inc.
|
627,175
|
115,651,070
|
||
Dell Technologies, Inc., Cl. C
|
93,107
|
7,716,708
|
||
|
||||
|
||||
|
|
123,367,778
|
|
SHARES
|
VALUE
|
||
COMMON STOCKS—99.8% (CONT.)
|
||||
TRANSACTION & PAYMENT PROCESSING SERVICES—3.0%
|
||||
Visa, Inc., Cl. A
|
198,591
|
$ 54,266,977
|
||
TOTAL COMMON STOCKS
(Cost $857,627,994)
|
|
1,794,497,405
|
||
PREFERRED STOCKS—0.1%
|
||||
DATA PROCESSING & OUTSOURCED SERVICES—0.1%
|
||||
Chime Financial, Inc.,Series G(a),*,@
|
27,841
|
1,023,157
|
||
(Cost $1,922,972)
|
|
1,023,157
|
||
REAL ESTATE INVESTMENT TRUST—0.4%
|
||||
DATA CENTER—0.4%
|
||||
Equinix, Inc.
|
8,367
|
6,942,685
|
||
(Cost $6,760,133)
|
|
6,942,685
|
||
SPECIAL PURPOSE VEHICLE—0.1%
|
||||
DATA PROCESSING & OUTSOURCED SERVICES—0.1%
|
||||
Crosslink Ventures C, LLC, Cl. A(a),(b),*,@
|
|
2,489,952
|
||
(Cost $2,775,000)
|
|
2,489,952
|
||
|
||||
|
||||
Total Investments
(Cost $869,086,099)
|
100.4%
|
$1,804,953,199
|
||
Affiliated Securities (Cost $2,775,000)
|
|
2,489,952
|
||
Unaffiliated Securities (Cost $866,311,099)
|
|
1,802,463,247
|
||
Liabilities in Excess of Other Assets
|
(0.4)%
|
(6,614,632)
|
||
NET ASSETS
|
100.0%
|
$1,798,338,567
|
ADR
|
American Depositary Receipts
|
(a)
|
Security is valued in good faith at fair value determined using significant unobservable inputs pursuant to procedures
established by the Valuation Designee (as defined in Note 2).
|
(b)
|
Deemed an affiliate of the Fund in accordance with Section 2(a)(3) of the Investment Company Act of 1940. See Note
4 - Affiliated Securities.
|
*
|
Non-income producing security.
|
@
|
Restricted security - Investment in security not registered under the Securities Act of 1933. Sales or transfers of the
investment may be restricted only to qualified buyers.
|
Security
|
Acquisition
Date(s)
|
Acquisition
Cost
|
Market
Value
|
% of net assets
as of
01/31/2024
|
Chime Financial, Inc.,Series G
|
8/24/21
|
$1,922,972
|
$1,023,157
|
0.1%
|
Crosslink Ventures C, LLC, Cl. A
|
10/2/20
|
2,775,000
|
2,489,952
|
0.1%
|
Total
|
|
|
$3,513,109
|
0.2%
|
|
SHARES
|
VALUE
|
||
COMMON STOCKS—98.0%
|
||||
AEROSPACE & DEFENSE—1.7%
|
||||
HEICO Corp., Cl. A
|
3,925
|
$ 555,270
|
||
APPLICATION SOFTWARE—2.3%
|
||||
AppFolio, Inc., Cl. A*
|
3,379
|
740,880
|
||
BIOTECHNOLOGY—6.1%
|
||||
Amgen, Inc.
|
2,127
|
668,431
|
||
Cabaletta Bio, Inc.*
|
23,707
|
485,519
|
||
Natera, Inc.*
|
12,481
|
822,997
|
||
|
||||
|
||||
|
|
1,976,947
|
||
BROADLINE RETAIL—10.9%
|
||||
Amazon.com, Inc.*
|
13,612
|
2,112,582
|
||
MercadoLibre, Inc.*
|
838
|
1,434,497
|
||
|
||||
|
||||
|
|
3,547,079
|
||
COMMUNICATIONS EQUIPMENT—1.9%
|
||||
Arista Networks, Inc.*
|
2,376
|
614,624
|
||
ELECTRONIC EQUIPMENT & INSTRUMENTS—0.5%
|
||||
908 Devices, Inc.*
|
20,612
|
145,933
|
||
FINANCIAL EXCHANGES & DATA—1.0%
|
||||
Cboe Global Markets, Inc.
|
1,745
|
320,818
|
||
FOOTWEAR—1.6%
|
||||
Deckers Outdoor Corp.*
|
681
|
513,290
|
||
HEALTHCARE EQUIPMENT—3.5%
|
||||
Impulse Dynamics PLC, Cl. E(a),*,@
|
164,939
|
544,299
|
||
Intuitive Surgical, Inc.*
|
1,608
|
608,177
|
||
|
||||
|
||||
|
|
1,152,476
|
||
INTERACTIVE MEDIA & SERVICES—15.8%
|
||||
Alphabet, Inc., Cl. A*
|
17,369
|
2,433,397
|
||
Meta Platforms, Inc., Cl. A*
|
2,884
|
1,125,164
|
||
Pinterest, Inc., Cl. A*
|
24,826
|
930,230
|
||
Snap, Inc., Cl. A*
|
40,341
|
641,018
|
||
|
||||
|
||||
|
|
5,129,809
|
||
INTERNET SERVICES & INFRASTRUCTURE—2.6%
|
||||
MongoDB, Inc.*
|
1,012
|
405,326
|
||
Shopify, Inc., Cl. A*
|
5,590
|
447,592
|
||
|
||||
|
||||
|
|
852,918
|
||
MOVIES & ENTERTAINMENT—8.7%
|
||||
Netflix, Inc.*
|
2,657
|
1,498,840
|
||
Spotify Technology SA*
|
6,124
|
1,318,804
|
||
|
||||
|
||||
|
|
2,817,644
|
||
OIL & GAS EXPLORATION & PRODUCTION—4.8%
|
||||
Diamondback Energy, Inc.
|
10,228
|
1,572,453
|
|
SHARES
|
VALUE
|
||
COMMON STOCKS—98.0% (CONT.)
|
||||
PASSENGER AIRLINES—1.0%
|
||||
Joby Aviation, Inc.*
|
57,055
|
$ 311,520
|
||
PASSENGER GROUND TRANSPORTATION—4.0%
|
||||
Uber Technologies, Inc.*
|
19,983
|
1,304,290
|
||
PHARMACEUTICALS—1.5%
|
||||
Eli Lilly & Co.
|
771
|
497,765
|
||
RESTAURANTS—0.5%
|
||||
Shake Shack, Inc., Cl. A*
|
2,038
|
153,991
|
||
SEMICONDUCTORS—17.1%
|
||||
Advanced Micro Devices, Inc.*
|
9,739
|
1,633,133
|
||
NVIDIA Corp.
|
4,801
|
2,953,911
|
||
Rambus, Inc.*
|
4,753
|
325,723
|
||
Taiwan Semiconductor Manufacturing Co., Ltd. ADR
|
5,691
|
642,856
|
||
|
||||
|
||||
|
|
5,555,623
|
||
SYSTEMS SOFTWARE—12.5%
|
||||
Crowdstrike Holdings, Inc., Cl. A*
|
2,222
|
649,935
|
||
Microsoft Corp.
|
7,399
|
2,941,694
|
||
Zscaler, Inc.*
|
2,047
|
482,417
|
||
|
||||
|
||||
|
|
4,074,046
|
||
TOTAL COMMON STOCKS
(Cost $25,840,020)
|
|
31,837,376
|
||
REAL ESTATE INVESTMENT TRUST—1.0%
|
||||
TELECOM TOWER—1.0%
|
||||
Crown Castle, Inc.
|
2,898
|
313,709
|
||
(Cost $315,434)
|
|
313,709
|
||
|
||||
|
||||
Total Investments
(Cost $26,155,454)
|
99.0%
|
$32,151,085
|
||
Unaffiliated Securities (Cost $26,155,454)
|
|
32,151,085
|
||
Other Assets in Excess of Liabilities
|
1.0%
|
340,722
|
||
NET ASSETS
|
100.0%
|
$32,491,807
|
ADR
|
American Depositary Receipts
|
(a)
|
Security is valued in good faith at fair value determined using significant unobservable inputs pursuant to procedures
established by the Valuation Designee (as defined in Note 2).
|
*
|
Non-income producing security.
|
@
|
Restricted security - Investment in security not registered under the Securities Act of 1933. Sales or transfers of the
investment may be restricted only to qualified buyers.
|
Security
|
Acquisition
Date(s)
|
Acquisition
Cost
|
Market
Value
|
% of net assets
as of
01/31/2024
|
Impulse Dynamics PLC, Cl. E
|
11/28/23
|
$544,299
|
$544,299
|
1.7%
|
Total
|
|
|
$544,299
|
1.7%
|
|
SHARES
|
VALUE
|
||
COMMON STOCKS—89.7%
|
||||
AEROSPACE & DEFENSE—1.2%
|
||||
General Dynamics Corp.
|
6,282
|
$ 1,664,667
|
||
TransDigm Group, Inc.
|
3,082
|
3,367,640
|
||
|
||||
|
||||
|
|
5,032,307
|
||
APPLICATION SOFTWARE—1.1%
|
||||
Adobe, Inc.*
|
7,701
|
4,757,524
|
||
ASSET MANAGEMENT & CUSTODY BANKS—2.9%
|
||||
BlackRock, Inc.
|
7,852
|
6,079,882
|
||
Blackstone, Inc.
|
41,076
|
5,111,908
|
||
The Carlyle Group, Inc.
|
30,193
|
1,208,324
|
||
|
||||
|
||||
|
|
12,400,114
|
||
BIOTECHNOLOGY—3.1%
|
||||
AbbVie, Inc.
|
53,336
|
8,768,438
|
||
Amgen, Inc.
|
8,787
|
2,761,403
|
||
Gilead Sciences, Inc.
|
19,150
|
1,498,679
|
||
|
||||
|
||||
|
|
13,028,520
|
||
BROADLINE RETAIL—2.4%
|
||||
Amazon.com, Inc.*
|
65,030
|
10,092,656
|
||
BUILDING PRODUCTS—0.4%
|
||||
Johnson Controls International PLC
|
31,231
|
1,645,561
|
||
CABLE & SATELLITE—1.0%
|
||||
Comcast Corp., Cl. A
|
95,845
|
4,460,626
|
||
COMMODITY CHEMICALS—0.2%
|
||||
Dow, Inc.
|
17,878
|
958,261
|
||
COMMUNICATIONS EQUIPMENT—0.8%
|
||||
Cisco Systems, Inc.
|
71,323
|
3,578,988
|
||
CONSUMER ELECTRONICS—0.4%
|
||||
Garmin, Ltd.
|
15,569
|
1,860,340
|
||
CONSUMER STAPLES MERCHANDISE RETAIL—0.8%
|
||||
Walmart, Inc.
|
19,355
|
3,198,414
|
||
COPPER—0.6%
|
||||
Southern Copper Corp.
|
29,466
|
2,419,159
|
||
DIVERSIFIED BANKS—4.1%
|
||||
Bank of America Corp.
|
135,182
|
4,597,540
|
||
JPMorgan Chase & Co.
|
75,052
|
13,086,067
|
||
|
||||
|
||||
|
|
17,683,607
|
||
ELECTRIC UTILITIES—0.5%
|
||||
NextEra Energy, Inc.
|
32,832
|
1,924,940
|
||
ELECTRICAL COMPONENTS & EQUIPMENT—1.8%
|
||||
Eaton Corp. PLC
|
31,295
|
7,701,074
|
|
SHARES
|
VALUE
|
||
COMMON STOCKS—89.7% (CONT.)
|
||||
FINANCIAL EXCHANGES & DATA—0.9%
|
||||
CME Group, Inc., Cl. A
|
19,234
|
$ 3,959,127
|
||
FOOD DISTRIBUTORS—0.5%
|
||||
Sysco Corp.
|
25,711
|
2,080,791
|
||
GOLD—0.2%
|
||||
Newmont Corp.
|
27,598
|
952,407
|
||
HEALTHCARE DISTRIBUTORS—0.6%
|
||||
Cardinal Health, Inc.
|
24,239
|
2,646,656
|
||
HEALTHCARE EQUIPMENT—0.5%
|
||||
Medtronic PLC
|
24,635
|
2,156,548
|
||
HOME IMPROVEMENT RETAIL—2.1%
|
||||
The Home Depot, Inc.
|
25,231
|
8,905,534
|
||
HOUSEHOLD PRODUCTS—1.5%
|
||||
The Procter & Gamble Co.
|
39,558
|
6,216,144
|
||
INDUSTRIAL CONGLOMERATES—1.3%
|
||||
Honeywell International, Inc.
|
27,338
|
5,529,384
|
||
INDUSTRIAL GASES—1.0%
|
||||
Air Products & Chemicals, Inc.
|
16,666
|
4,261,663
|
||
INTEGRATED OIL & GAS—3.5%
|
||||
Chevron Corp.
|
44,361
|
6,540,142
|
||
Exxon Mobil Corp.
|
49,411
|
5,079,945
|
||
TotalEnergies SE ADR
|
51,185
|
3,336,238
|
||
|
||||
|
||||
|
|
14,956,325
|
||
INTEGRATED TELECOMMUNICATION SERVICES—0.8%
|
||||
Verizon Communications, Inc.
|
85,472
|
3,619,739
|
||
INTERACTIVE MEDIA & SERVICES—7.3%
|
||||
Alphabet, Inc., Cl. A*
|
97,670
|
13,683,567
|
||
Alphabet, Inc., Cl. C*
|
73,671
|
10,446,548
|
||
Meta Platforms, Inc., Cl. A*
|
18,259
|
7,123,566
|
||
|
||||
|
||||
|
|
31,253,681
|
||
INVESTMENT BANKING & BROKERAGE—2.0%
|
||||
Morgan Stanley
|
97,669
|
8,520,644
|
||
LEISURE FACILITIES—0.3%
|
||||
Vail Resorts, Inc.
|
6,340
|
1,407,480
|
||
MANAGED HEALTHCARE—2.5%
|
||||
UnitedHealth Group, Inc.
|
20,531
|
10,506,534
|
||
MULTI-UTILITIES—1.0%
|
||||
Consolidated Edison, Inc.
|
23,121
|
2,101,699
|
||
Sempra
|
32,727
|
2,341,944
|
||
|
||||
|
||||
|
|
4,443,643
|
|
SHARES
|
VALUE
|
||
COMMON STOCKS—89.7% (CONT.)
|
||||
OIL & GAS EXPLORATION & PRODUCTION—0.4%
|
||||
Pioneer Natural Resources Co.
|
8,045
|
$ 1,848,982
|
||
OIL & GAS STORAGE & TRANSPORTATION—0.5%
|
||||
ONEOK, Inc.
|
28,054
|
1,914,686
|
||
PERSONAL CARE PRODUCTS—0.2%
|
||||
Kenvue, Inc.
|
45,438
|
943,293
|
||
PHARMACEUTICALS—5.5%
|
||||
AstraZeneca PLC ADR
|
46,736
|
3,114,487
|
||
Bristol-Myers Squibb Co.
|
27,038
|
1,321,347
|
||
Eli Lilly & Co.
|
9,682
|
6,250,796
|
||
GSK PLC ADR
|
29,993
|
1,182,924
|
||
Johnson & Johnson
|
30,887
|
4,907,944
|
||
Merck & Co., Inc.
|
24,559
|
2,966,236
|
||
Novartis AG ADR
|
18,663
|
1,931,061
|
||
Pfizer, Inc.
|
67,152
|
1,818,476
|
||
|
||||
|
||||
|
|
23,493,271
|
||
PROPERTY & CASUALTY INSURANCE—0.5%
|
||||
The Hartford Financial Services Group, Inc.
|
25,492
|
2,216,784
|
||
RAIL TRANSPORTATION—0.7%
|
||||
Union Pacific Corp.
|
11,596
|
2,828,612
|
||
RESTAURANTS—1.4%
|
||||
McDonald's Corp.
|
12,804
|
3,747,987
|
||
Starbucks Corp.
|
24,310
|
2,261,559
|
||
|
||||
|
||||
|
|
6,009,546
|
||
SEMICONDUCTOR MATERIALS & EQUIPMENT—3.0%
|
||||
KLA Corp.
|
21,707
|
12,894,826
|
||
SEMICONDUCTORS—6.1%
|
||||
Broadcom, Inc.
|
14,661
|
17,299,980
|
||
QUALCOMM, Inc.
|
39,740
|
5,901,788
|
||
Taiwan Semiconductor Manufacturing Co., Ltd. ADR
|
24,816
|
2,803,215
|
||
|
||||
|
||||
|
|
26,004,983
|
||
SOFT DRINKS & NON-ALCOHOLIC BEVERAGES—2.2%
|
||||
PepsiCo, Inc.
|
30,721
|
5,177,410
|
||
The Coca-Cola Co.
|
73,758
|
4,387,864
|
||
|
||||
|
||||
|
|
9,565,274
|
||
SYSTEMS SOFTWARE—10.6%
|
||||
Microsoft Corp.
|
109,989
|
43,729,426
|
||
Oracle Corp.
|
15,484
|
1,729,563
|
||
|
||||
|
||||
|
|
45,458,989
|
|
SHARES
|
VALUE
|
||
COMMON STOCKS—89.7% (CONT.)
|
||||
TECHNOLOGY HARDWARE STORAGE & PERIPHERALS—8.1%
|
||||
Apple, Inc.
|
173,259
|
$ 31,948,960
|
||
Dell Technologies, Inc., Cl. C
|
30,504
|
2,528,171
|
||
|
||||
|
||||
|
|
34,477,131
|
||
TOBACCO—1.0%
|
||||
Altria Group, Inc.
|
58,038
|
2,328,484
|
||
Philip Morris International, Inc.
|
21,974
|
1,996,338
|
||
|
||||
|
||||
|
|
4,324,822
|
||
TRADING COMPANIES & DISTRIBUTORS—0.7%
|
||||
Ferguson PLC
|
14,723
|
2,765,863
|
||
TRANSACTION & PAYMENT PROCESSING SERVICES—1.5%
|
||||
Visa, Inc., Cl. A
|
22,858
|
6,246,177
|
||
TOTAL COMMON STOCKS
(Cost $243,001,593)
|
|
383,151,630
|
||
MASTER LIMITED PARTNERSHIP—0.4%
|
||||
OIL & GAS STORAGE & TRANSPORTATION—0.4%
|
||||
Cheniere Energy Partners LP
|
37,306
|
1,974,234
|
||
(Cost $1,617,175)
|
|
1,974,234
|
||
REAL ESTATE INVESTMENT TRUST—3.2%
|
||||
HEALTHCARE—0.7%
|
||||
Welltower, Inc.
|
31,848
|
2,755,170
|
||
INDUSTRIAL—0.4%
|
||||
Prologis, Inc.
|
12,164
|
1,541,057
|
||
MORTGAGE—0.2%
|
||||
Blackstone Mortgage Trust, Inc., CL. A
|
52,038
|
1,027,230
|
||
RETAIL—0.7%
|
||||
Simon Property Group, Inc.
|
21,595
|
2,993,283
|
||
SPECIALIZED—0.5%
|
||||
Lamar Advertising Co., Cl. A
|
20,628
|
2,159,339
|
||
TELECOM TOWER—0.7%
|
||||
Crown Castle, Inc.
|
28,654
|
3,101,796
|
||
TOTAL REAL ESTATE INVESTMENT TRUST
(Cost $12,872,739)
|
|
13,577,875
|
|
SHARES
|
VALUE
|
||
SHORT-TERM SECURITIES—3.8%
|
||||
MONEY MARKET FUNDS—3.8%
|
||||
Dreyfus Treasury Obligations Cash Management Fund,
Institutional Shares, 5.19%, (a)
|
16,000,000
|
$ 16,000,000
|
||
(Cost $16,000,000)
|
|
16,000,000
|
||
|
||||
|
||||
Total Investments
(Cost $273,491,507)
|
97.1%
|
$414,703,739
|
||
Unaffiliated Securities (Cost $273,491,507)
|
|
414,703,739
|
||
Other Assets in Excess of Liabilities
|
2.9%
|
12,500,322
|
||
NET ASSETS
|
100.0%
|
$427,204,061
|
ADR
|
American Depositary Receipts
|
(a)
|
Rate shown reflects 7-day effective yield as of January 31, 2024.
|
*
|
Non-income producing security.
|
|
SHARES
|
VALUE
|
||
COMMON STOCKS—99.0%
|
||||
ADVERTISING—1.4%
|
||||
The Trade Desk, Inc., Cl. A*
|
44,210
|
$ 3,025,290
|
||
AEROSPACE & DEFENSE—4.4%
|
||||
HEICO Corp.
|
34,935
|
6,273,977
|
||
TransDigm Group, Inc.
|
3,162
|
3,455,054
|
||
|
||||
|
||||
|
|
9,729,031
|
||
APPLICATION SOFTWARE—14.2%
|
||||
Cadence Design Systems, Inc.*
|
18,880
|
5,446,125
|
||
Clearwater Analytics Holdings, Inc.*
|
93,794
|
1,768,017
|
||
Constellation Software, Inc.
|
2,277
|
6,293,289
|
||
Datadog, Inc., Cl. A*
|
32,737
|
4,073,792
|
||
Guidewire Software, Inc.*
|
35,803
|
3,998,479
|
||
Manhattan Associates, Inc.*
|
14,355
|
3,481,949
|
||
Procore Technologies, Inc.*
|
35,675
|
2,546,838
|
||
The Descartes Systems Group, Inc.*
|
43,918
|
3,845,459
|
||
|
||||
|
||||
|
|
31,453,948
|
||
ASSET MANAGEMENT & CUSTODY BANKS—2.6%
|
||||
Ares Management Corp., Cl. A
|
29,459
|
3,578,680
|
||
Blue Owl Capital, Inc., Cl. A
|
139,782
|
2,172,212
|
||
|
||||
|
||||
|
|
5,750,892
|
||
AUTOMOTIVE PARTS & EQUIPMENT—0.5%
|
||||
Mobileye Global, Inc., Cl. A*
|
47,001
|
1,215,446
|
||
AUTOMOTIVE RETAIL—1.1%
|
||||
AutoZone, Inc.*
|
914
|
2,524,587
|
||
BIOTECHNOLOGY—3.4%
|
||||
Natera, Inc.*
|
85,829
|
5,659,564
|
||
Vaxcyte, Inc.*
|
27,514
|
1,965,050
|
||
|
||||
|
||||
|
|
7,624,614
|
||
BUILDING PRODUCTS—0.6%
|
||||
Trex Co., Inc.*
|
17,556
|
1,430,463
|
||
CARGO GROUND TRANSPORTATION—2.1%
|
||||
Old Dominion Freight Line, Inc.
|
12,055
|
4,713,746
|
||
CONSTRUCTION & ENGINEERING—1.1%
|
||||
WillScot Mobile Mini Holdings Corp.*
|
53,567
|
2,533,719
|
||
CONSTRUCTION MACHINERY & HEAVY TRANSPORTATION EQUIPMENT—1.1%
|
||||
Wabtec Corp.
|
17,717
|
2,331,026
|
||
CONSTRUCTION MATERIALS—1.5%
|
||||
Martin Marietta Materials, Inc.
|
6,562
|
3,336,252
|
||
DIVERSIFIED FINANCIAL SERVICES—0.8%
|
||||
Apollo Global Management, Inc.
|
17,537
|
1,760,715
|
|
SHARES
|
VALUE
|
||
COMMON STOCKS—99.0% (CONT.)
|
||||
ELECTRICAL COMPONENTS & EQUIPMENT—2.9%
|
||||
Vertiv Holdings Co., Cl. A
|
114,350
|
$ 6,441,335
|
||
ELECTRONIC COMPONENTS—2.1%
|
||||
Amphenol Corp., Cl. A
|
46,148
|
4,665,563
|
||
ELECTRONIC EQUIPMENT & INSTRUMENTS—0.9%
|
||||
Novanta, Inc.*
|
12,383
|
1,913,793
|
||
ENVIRONMENTAL & FACILITIES SERVICES—2.8%
|
||||
GFL Environmental, Inc.
|
184,343
|
6,262,132
|
||
FINANCIAL EXCHANGES & DATA—2.3%
|
||||
MarketAxess Holdings, Inc.
|
4,320
|
974,203
|
||
MSCI, Inc., Cl. A
|
6,758
|
4,045,474
|
||
|
||||
|
||||
|
|
5,019,677
|
||
HEALTHCARE EQUIPMENT—4.3%
|
||||
Dexcom, Inc.*
|
30,482
|
3,698,990
|
||
IDEXX Laboratories, Inc.*
|
10,310
|
5,310,475
|
||
Insulet Corp.*
|
3,246
|
619,564
|
||
|
||||
|
||||
|
|
9,629,029
|
||
HEALTHCARE FACILITIES—1.1%
|
||||
Acadia Healthcare Co., Inc.*
|
28,543
|
2,344,522
|
||
HEALTHCARE TECHNOLOGY—2.0%
|
||||
Veeva Systems, Inc., Cl. A*
|
21,461
|
4,451,226
|
||
HOME IMPROVEMENT RETAIL—1.0%
|
||||
Floor & Decor Holdings, Inc., Cl. A*
|
21,020
|
2,113,771
|
||
HOMEBUILDING—1.4%
|
||||
NVR, Inc.*
|
433
|
3,063,601
|
||
HOMEFURNISHING RETAIL—0.4%
|
||||
Wayfair, Inc., Cl. A*
|
17,713
|
890,078
|
||
HOTELS RESORTS & CRUISE LINES—2.1%
|
||||
Hilton Worldwide Holdings, Inc.
|
23,919
|
4,567,572
|
||
HUMAN RESOURCE & EMPLOYMENT SERVICES—0.8%
|
||||
Paylocity Holding Corp.*
|
10,746
|
1,702,274
|
||
INSURANCE BROKERS—0.8%
|
||||
Ryan Specialty Holdings, Inc., Cl. A*
|
38,879
|
1,684,238
|
||
INTERACTIVE MEDIA & SERVICES—2.4%
|
||||
Pinterest, Inc., Cl. A*
|
141,269
|
5,293,349
|
||
INTERNET SERVICES & INFRASTRUCTURE—2.2%
|
||||
Cloudflare, Inc., Cl. A*
|
12,510
|
988,916
|
||
MongoDB, Inc.*
|
9,849
|
3,944,721
|
||
|
||||
|
||||
|
|
4,933,637
|
||
IT CONSULTING & OTHER SERVICES—2.4%
|
||||
Globant SA*
|
22,927
|
5,406,416
|
|
SHARES
|
VALUE
|
||
COMMON STOCKS—99.0% (CONT.)
|
||||
LIFE SCIENCES TOOLS & SERVICES—6.0%
|
||||
Mettler-Toledo International, Inc.*
|
1,820
|
$ 2,178,886
|
||
Repligen Corp.*
|
30,616
|
5,798,670
|
||
West Pharmaceutical Services, Inc.
|
14,297
|
5,333,210
|
||
|
||||
|
||||
|
|
13,310,766
|
||
MOVIES & ENTERTAINMENT—2.6%
|
||||
Liberty Media Corp. Series C Liberty Formula One*
|
18,628
|
1,252,733
|
||
Spotify Technology SA*
|
20,590
|
4,434,056
|
||
|
||||
|
||||
|
|
5,686,789
|
||
OIL & GAS EXPLORATION & PRODUCTION—2.6%
|
||||
Diamondback Energy, Inc.
|
36,848
|
5,665,012
|
||
OTHER SPECIALTY RETAIL—1.0%
|
||||
Five Below, Inc.*
|
12,823
|
2,301,216
|
||
PROPERTY & CASUALTY INSURANCE—1.0%
|
||||
Intact Financial Corp.
|
13,985
|
2,187,025
|
||
REAL ESTATE SERVICES—4.9%
|
||||
CoStar Group, Inc.*
|
50,350
|
4,203,218
|
||
FirstService Corp.
|
40,278
|
6,751,801
|
||
|
||||
|
||||
|
|
10,955,019
|
||
RESEARCH & CONSULTING SERVICES—1.8%
|
||||
TransUnion
|
17,338
|
1,199,616
|
||
Verisk Analytics, Inc., Cl. A
|
11,363
|
2,744,506
|
||
|
||||
|
||||
|
|
3,944,122
|
||
RESTAURANTS—4.3%
|
||||
Chipotle Mexican Grill, Inc.*
|
1,839
|
4,429,728
|
||
Domino's Pizza, Inc.
|
11,808
|
5,032,806
|
||
|
||||
|
||||
|
|
9,462,534
|
||
SEMICONDUCTORS—5.1%
|
||||
Lattice Semiconductor Corp.*
|
53,459
|
3,253,515
|
||
Marvell Technology, Inc.
|
82,501
|
5,585,318
|
||
ON Semiconductor Corp.*
|
35,003
|
2,489,763
|
||
|
||||
|
||||
|
|
11,328,596
|
||
SOFT DRINKS & NON-ALCOHOLIC BEVERAGES—1.6%
|
||||
Celsius Holdings, Inc.*
|
72,710
|
3,628,229
|
||
TRADING COMPANIES & DISTRIBUTORS—1.4%
|
||||
Ferguson PLC
|
16,542
|
3,107,580
|
||
TOTAL COMMON STOCKS
(Cost $178,904,579)
|
|
219,388,830
|
|
SHARES
|
VALUE
|
||
PREFERRED STOCKS—0.0%
|
||||
BIOTECHNOLOGY—0.0%
|
||||
Prosetta Biosciences, Inc., Series D(a),(b),*,@
|
219,610
|
$ —
|
||
(Cost $988,245)
|
|
—
|
||
RIGHTS—0.2%
|
||||
BIOTECHNOLOGY—0.2%
|
||||
Tolero CDR(b),*,@
|
590,059
|
436,644
|
||
(Cost $315,501)
|
|
436,644
|
||
SPECIAL PURPOSE VEHICLE—0.7%
|
||||
DATA PROCESSING & OUTSOURCED SERVICES—0.7%
|
||||
Crosslink Ventures C, LLC, Cl. A(a),(b),*,@
|
|
1,076,736
|
||
Crosslink Ventures C, LLC, Cl. B(a),(b),*,@
|
|
426,208
|
||
|
||||
|
||||
|
|
1,502,944
|
||
TOTAL SPECIAL PURPOSE VEHICLE
(Cost $1,675,000)
|
|
1,502,944
|
||
WARRANTS—0.0%
|
||||
APPLICATION SOFTWARE—0.0%
|
||||
Constellation Software, Inc., 3/31/40(b),*
|
2,045
|
—
|
||
(Cost $0)
|
|
—
|
||
|
||||
|
||||
Total Investments
(Cost $181,883,325)
|
99.9%
|
$221,328,418
|
||
Affiliated Securities (Cost $2,663,245)
|
|
1,502,944
|
||
Unaffiliated Securities (Cost $179,220,080)
|
|
219,825,474
|
||
Other Assets in Excess of Liabilities
|
0.1%
|
214,503
|
||
NET ASSETS
|
100.0%
|
$221,542,921
|
CDR
|
Contingent Deferred Rights
|
(a)
|
Deemed an affiliate of the Fund in accordance with Section 2(a)(3) of the Investment Company Act of 1940. See Note
4 - Affiliated Securities.
|
(b)
|
Security is valued in good faith at fair value determined using significant unobservable inputs pursuant to procedures
established by the Valuation Designee (as defined in Note 2).
|
*
|
Non-income producing security.
|
@
|
Restricted security - Investment in security not registered under the Securities Act of 1933. Sales or transfers of the
investment may be restricted only to qualified buyers.
|
Security
|
Acquisition
Date(s)
|
Acquisition
Cost
|
Market
Value
|
% of net assets
as of
01/31/2024
|
Crosslink Ventures C, LLC, Cl. A
|
10/2/20
|
$1,200,000
|
$1,076,736
|
0.5%
|
Crosslink Ventures C, LLC, Cl. B
|
12/16/20
|
475,000
|
426,208
|
0.2%
|
Prosetta Biosciences, Inc., Series D
|
2/6/15
|
988,245
|
—
|
0.0%
|
Tolero CDR
|
2/6/17
|
315,501
|
436,644
|
0.2%
|
Total
|
|
|
$1,939,588
|
0.9%
|
|
SHARES
|
VALUE
|
||
COMMON STOCKS—100.1%
|
||||
ADVERTISING—1.0%
|
||||
The Trade Desk, Inc., Cl. A*
|
37,568
|
$ 2,570,778
|
||
AEROSPACE & DEFENSE—6.5%
|
||||
Axon Enterprise, Inc.*
|
24,530
|
6,109,442
|
||
HEICO Corp.
|
45,840
|
8,232,406
|
||
TransDigm Group, Inc.
|
2,502
|
2,733,885
|
||
|
||||
|
||||
|
|
17,075,733
|
||
APPAREL RETAIL—1.3%
|
||||
Burlington Stores, Inc.*
|
17,063
|
3,261,592
|
||
APPLICATION SOFTWARE—20.1%
|
||||
Agilysys, Inc.*
|
82,064
|
6,869,577
|
||
ANSYS, Inc.*
|
15,680
|
5,140,374
|
||
AppFolio, Inc., Cl. A*
|
34,706
|
7,609,638
|
||
Bentley Systems, Inc., Cl. B
|
80,879
|
4,076,302
|
||
Cadence Design Systems, Inc.*
|
29,888
|
8,621,493
|
||
Constellation Software, Inc.
|
1,627
|
4,496,786
|
||
Datadog, Inc., Cl. A*
|
25,320
|
3,150,821
|
||
Manhattan Associates, Inc.*
|
24,365
|
5,909,974
|
||
Tyler Technologies, Inc.*
|
15,764
|
6,664,231
|
||
|
||||
|
||||
|
|
52,539,196
|
||
AUTOMOTIVE RETAIL—2.4%
|
||||
O'Reilly Automotive, Inc.*
|
6,013
|
6,151,600
|
||
BIOTECHNOLOGY—5.5%
|
||||
Exact Sciences Corp.*
|
39,381
|
2,575,518
|
||
Madrigal Pharmaceuticals, Inc.*
|
16,430
|
3,560,545
|
||
Natera, Inc.*
|
125,882
|
8,300,659
|
||
|
||||
|
||||
|
|
14,436,722
|
||
CARGO GROUND TRANSPORTATION—2.7%
|
||||
Old Dominion Freight Line, Inc.
|
18,188
|
7,111,872
|
||
CASINOS & GAMING—1.4%
|
||||
DraftKings, Inc., Cl. A*
|
96,128
|
3,753,798
|
||
CONSTRUCTION MATERIALS—2.2%
|
||||
Martin Marietta Materials, Inc.
|
11,306
|
5,748,197
|
||
ELECTRICAL COMPONENTS & EQUIPMENT—5.2%
|
||||
Vertiv Holdings Co., Cl. A
|
243,736
|
13,729,649
|
||
ELECTRONIC EQUIPMENT & INSTRUMENTS—1.4%
|
||||
Novanta, Inc.*
|
23,954
|
3,702,091
|
||
FOOTWEAR—2.6%
|
||||
Deckers Outdoor Corp.*
|
8,938
|
6,736,839
|
||
HEALTHCARE EQUIPMENT—5.2%
|
||||
Dexcom, Inc.*
|
48,189
|
5,847,735
|
|
SHARES
|
VALUE
|
||
COMMON STOCKS—100.1% (CONT.)
|
||||
HEALTHCARE EQUIPMENT—5.2% (CONT.)
|
||||
IDEXX Laboratories, Inc.*
|
9,023
|
$ 4,647,567
|
||
Shockwave Medical, Inc.*
|
13,621
|
3,081,751
|
||
|
||||
|
||||
|
|
13,577,053
|
||
HEALTHCARE TECHNOLOGY—1.8%
|
||||
Veeva Systems, Inc., Cl. A*
|
22,267
|
4,618,398
|
||
HOME IMPROVEMENT RETAIL—1.7%
|
||||
Floor & Decor Holdings, Inc., Cl. A*
|
45,200
|
4,545,312
|
||
INTERACTIVE MEDIA & SERVICES—2.2%
|
||||
Pinterest, Inc., Cl. A*
|
156,801
|
5,875,333
|
||
INTERNET SERVICES & INFRASTRUCTURE—9.2%
|
||||
Cloudflare, Inc., Cl. A*
|
60,432
|
4,777,150
|
||
MongoDB, Inc.*
|
11,031
|
4,418,136
|
||
Okta, Inc.*
|
37,131
|
3,068,877
|
||
Shopify, Inc., Cl. A*
|
106,732
|
8,546,031
|
||
Snowflake, Inc., Cl. A*
|
16,384
|
3,205,366
|
||
|
||||
|
||||
|
|
24,015,560
|
||
LIFE SCIENCES TOOLS & SERVICES—4.7%
|
||||
Avantor, Inc.*
|
154,250
|
3,546,207
|
||
Bruker Corp.
|
36,349
|
2,599,317
|
||
West Pharmaceutical Services, Inc.
|
16,484
|
6,149,027
|
||
|
||||
|
||||
|
|
12,294,551
|
||
MOVIES & ENTERTAINMENT—1.7%
|
||||
Liberty Media Corp. Series C Liberty Formula One*
|
65,151
|
4,381,405
|
||
OIL & GAS EXPLORATION & PRODUCTION—4.0%
|
||||
Diamondback Energy, Inc.
|
67,779
|
10,420,343
|
||
RESTAURANTS—0.6%
|
||||
Shake Shack, Inc., Cl. A*
|
21,660
|
1,636,630
|
||
SEMICONDUCTOR MATERIALS & EQUIPMENT—1.3%
|
||||
ASML Holding NV
|
3,936
|
3,423,612
|
||
SEMICONDUCTORS—8.4%
|
||||
Advanced Micro Devices, Inc.*
|
48,428
|
8,120,892
|
||
Marvell Technology, Inc.
|
91,539
|
6,197,190
|
||
Micron Technology, Inc.
|
32,927
|
2,823,490
|
||
Monolithic Power Systems, Inc.
|
8,097
|
4,880,224
|
||
|
||||
|
||||
|
|
22,021,796
|
||
SOFT DRINKS & NON-ALCOHOLIC BEVERAGES—1.5%
|
||||
Celsius Holdings, Inc.*
|
78,685
|
3,926,381
|
|
SHARES
|
VALUE
|
||
COMMON STOCKS—100.1% (CONT.)
|
||||
SYSTEMS SOFTWARE—3.7%
|
||||
Crowdstrike Holdings, Inc., Cl. A*
|
8,923
|
$ 2,609,977
|
||
ServiceNow, Inc.*
|
9,129
|
6,987,337
|
||
|
||||
|
||||
|
|
9,597,314
|
||
TECHNOLOGY HARDWARE STORAGE & PERIPHERALS—1.8%
|
||||
Super Micro Computer, Inc.*
|
9,115
|
4,827,395
|
||
TOTAL COMMON STOCKS
(Cost $201,986,068)
|
|
261,979,150
|
||
|
||||
|
||||
Total Investments
(Cost $201,986,068)
|
100.1%
|
$261,979,150
|
||
Unaffiliated Securities (Cost $201,986,068)
|
|
261,979,150
|
||
Liabilities in Excess of Other Assets
|
(0.1)%
|
(159,297)
|
||
NET ASSETS
|
100.0%
|
$261,819,853
|
*
|
Non-income producing security.
|
|
SHARES
|
VALUE
|
||
COMMON STOCKS—97.7%
|
||||
AEROSPACE & DEFENSE—3.2%
|
||||
AAR Corp.*
|
130,836
|
$ 7,957,446
|
||
Cadre Holdings, Inc.
|
93,570
|
3,180,444
|
||
Kratos Defense & Security Solutions, Inc.*
|
366,107
|
6,198,191
|
||
|
||||
|
||||
|
|
17,336,081
|
||
APPLICATION SOFTWARE—14.8%
|
||||
Agilysys, Inc.*
|
10,143
|
849,071
|
||
Intapp, Inc.*
|
241,975
|
10,424,283
|
||
nCino, Inc.*
|
200,863
|
6,323,167
|
||
Sprout Social, Inc., Cl. A*
|
164,086
|
10,063,394
|
||
SPS Commerce, Inc.*
|
155,415
|
28,565,277
|
||
Vertex, Inc., Cl. A*
|
998,354
|
24,220,068
|
||
|
||||
|
||||
|
|
80,445,260
|
||
ASSET MANAGEMENT & CUSTODY BANKS—8.2%
|
||||
Hamilton Lane, Inc., Cl. A
|
191,694
|
22,225,002
|
||
StepStone Group, Inc., Cl. A
|
663,400
|
22,190,730
|
||
|
||||
|
||||
|
|
44,415,732
|
||
BIOTECHNOLOGY—8.7%
|
||||
ACADIA Pharmaceuticals, Inc.*
|
723,361
|
18,742,284
|
||
Natera, Inc.*
|
312,960
|
20,636,582
|
||
Ultragenyx Pharmaceutical, Inc.*
|
180,914
|
7,980,117
|
||
|
||||
|
||||
|
|
47,358,983
|
||
BROADLINE RETAIL—4.6%
|
||||
Ollie's Bargain Outlet Holdings, Inc.*
|
278,454
|
20,029,196
|
||
Savers Value Village, Inc.*
|
263,297
|
4,921,021
|
||
|
||||
|
||||
|
|
24,950,217
|
||
CARGO GROUND TRANSPORTATION—1.5%
|
||||
RXO, Inc.*
|
390,354
|
8,119,363
|
||
CONSUMER FINANCE—0.5%
|
||||
Upstart Holdings, Inc.*
|
78,957
|
2,507,674
|
||
ELECTRONIC EQUIPMENT & INSTRUMENTS—1.1%
|
||||
Novanta, Inc.*
|
38,882
|
6,009,213
|
||
ENVIRONMENTAL & FACILITIES SERVICES—7.1%
|
||||
Casella Waste Systems, Inc., Cl. A*
|
357,273
|
30,489,678
|
||
Montrose Environmental Group, Inc.*
|
271,570
|
7,932,560
|
||
|
||||
|
||||
|
|
38,422,238
|
||
HEALTHCARE EQUIPMENT—12.8%
|
||||
Glaukos Corp.*
|
259,784
|
23,128,569
|
||
Impulse Dynamics PLC, Cl. E(a),*,@
|
904,912
|
1,945,561
|
||
Inmode, Ltd.*
|
95,103
|
2,252,990
|
||
Inogen, Inc.*
|
236,687
|
1,684,028
|
||
Inspire Medical Systems, Inc.*
|
94,585
|
19,945,139
|
|
SHARES
|
VALUE
|
||
COMMON STOCKS—97.7% (CONT.)
|
||||
HEALTHCARE EQUIPMENT—12.8% (CONT.)
|
||||
iRhythm Technologies, Inc.*
|
70,874
|
$ 8,489,288
|
||
Nevro Corp.*
|
625,138
|
10,352,285
|
||
Tandem Diabetes Care, Inc.*
|
74,931
|
1,708,427
|
||
|
||||
|
||||
|
|
69,506,287
|
||
HEALTHCARE FACILITIES—1.0%
|
||||
US Physical Therapy, Inc.
|
61,398
|
5,664,580
|
||
HEALTHCARE SERVICES—2.2%
|
||||
Agiliti, Inc.*
|
562,982
|
3,991,542
|
||
NeoGenomics, Inc.*
|
530,907
|
7,883,969
|
||
|
||||
|
||||
|
|
11,875,511
|
||
HEALTHCARE TECHNOLOGY—1.1%
|
||||
Definitive Healthcare Corp.*
|
708,209
|
6,019,777
|
||
IT CONSULTING & OTHER SERVICES—0.7%
|
||||
Globant SA*
|
17,300
|
4,079,513
|
||
LEISURE FACILITIES—1.4%
|
||||
Planet Fitness, Inc., Cl. A*
|
108,354
|
7,342,067
|
||
LEISURE PRODUCTS—0.2%
|
||||
Latham Group, Inc.*
|
470,192
|
1,189,586
|
||
MANAGED HEALTHCARE—5.9%
|
||||
Progyny, Inc.*
|
842,240
|
32,080,922
|
||
OIL & GAS EQUIPMENT & SERVICES—1.4%
|
||||
Core Laboratories, Inc.
|
249,571
|
3,935,734
|
||
Dril-Quip, Inc.*
|
182,382
|
3,660,407
|
||
|
||||
|
||||
|
|
7,596,141
|
||
PERSONAL CARE PRODUCTS—0.3%
|
||||
Oddity Tech, Ltd., Cl. A*
|
33,379
|
1,378,553
|
||
PROPERTY & CASUALTY INSURANCE—0.6%
|
||||
Palomar Holdings, Inc.*
|
58,060
|
3,476,052
|
||
REAL ESTATE SERVICES—5.9%
|
||||
FirstService Corp.
|
191,978
|
32,181,272
|
||
RESEARCH & CONSULTING SERVICES—0.2%
|
||||
NV5 Global, Inc.*
|
11,763
|
1,233,821
|
||
RESTAURANTS—1.3%
|
||||
Wingstop, Inc.
|
25,785
|
7,248,421
|
||
SEMICONDUCTORS—3.6%
|
||||
Impinj, Inc.*
|
150,627
|
14,607,806
|
||
SiTime Corp.*
|
45,845
|
4,885,702
|
||
|
||||
|
||||
|
|
19,493,508
|
||
TRADING COMPANIES & DISTRIBUTORS—8.7%
|
||||
SiteOne Landscape Supply, Inc.*
|
143,913
|
22,241,754
|
|
SHARES
|
VALUE
|
||
COMMON STOCKS—97.7% (CONT.)
|
||||
TRADING COMPANIES & DISTRIBUTORS—8.7% (CONT.)
|
||||
Transcat, Inc.*
|
205,685
|
$ 22,633,578
|
||
Xometry, Inc., Cl. A*
|
73,924
|
2,378,874
|
||
|
||||
|
||||
|
|
47,254,206
|
||
TRANSACTION & PAYMENT PROCESSING SERVICES—0.7%
|
||||
Flywire Corp.*
|
165,732
|
3,541,693
|
||
TOTAL COMMON STOCKS
(Cost $451,182,641)
|
|
530,726,671
|
||
PREFERRED STOCKS—0.0%
|
||||
BIOTECHNOLOGY—0.0%
|
||||
Prosetta Biosciences, Inc., Series D(a),(b),*,@
|
231,474
|
—
|
||
(Cost $1,041,633)
|
|
—
|
||
SHORT-TERM SECURITIES—2.4%
|
||||
MONEY MARKET FUNDS—2.4%
|
||||
Dreyfus Treasury Obligations Cash Management Fund,
Institutional Shares, 5.19%, (c)
|
13,000,000
|
13,000,000
|
||
(Cost $13,000,000)
|
|
13,000,000
|
||
|
||||
|
||||
Total Investments
(Cost $465,224,274)
|
100.1%
|
$543,726,671
|
||
Affiliated Securities (Cost $1,041,633)
|
|
0
|
||
Unaffiliated Securities (Cost $464,182,641)
|
|
543,726,671
|
||
Liabilities in Excess of Other Assets
|
(0.1)%
|
(567,370)
|
||
NET ASSETS
|
100.0%
|
$543,159,301
|
(a)
|
Security is valued in good faith at fair value determined using significant unobservable inputs pursuant to procedures
established by the Valuation Designee (as defined in Note 2).
|
(b)
|
Deemed an affiliate of the Fund in accordance with Section 2(a)(3) of the Investment Company Act of 1940. See Note
4 - Affiliated Securities.
|
(c)
|
Rate shown reflects 7-day effective yield as of January 31, 2024.
|
*
|
Non-income producing security.
|
@
|
Restricted security - Investment in security not registered under the Securities Act of 1933. Sales or transfers of the
investment may be restricted only to qualified buyers.
|
Security
|
Acquisition
Date(s)
|
Acquisition
Cost
|
Market
Value
|
% of net assets
as of
01/31/2024
|
Impulse Dynamics PLC, Cl. E
|
2/11/22
|
$2,986,210
|
$1,945,561
|
0.4%
|
Prosetta Biosciences, Inc., Series D
|
2/6/15
|
1,041,633
|
—
|
0.0%
|
Total
|
|
|
$1,945,561
|
0.4%
|
|
SHARES
|
VALUE
|
||
COMMON STOCKS—97.9%
|
||||
AEROSPACE & DEFENSE—5.4%
|
||||
HEICO Corp.
|
70,543
|
$ 12,668,817
|
||
Hexcel Corp.
|
34,820
|
2,311,700
|
||
Mercury Systems, Inc.*
|
42,584
|
1,263,042
|
||
|
||||
|
||||
|
|
16,243,559
|
||
APPAREL ACCESSORIES & LUXURY GOODS—0.8%
|
||||
Capri Holdings, Ltd.*
|
50,525
|
2,462,588
|
||
APPAREL RETAIL—1.3%
|
||||
Victoria's Secret & Co.*
|
154,291
|
4,019,280
|
||
APPLICATION SOFTWARE—24.2%
|
||||
ACI Worldwide, Inc.*
|
128,558
|
3,865,739
|
||
AppFolio, Inc., Cl. A*
|
26,631
|
5,839,113
|
||
BILL Holdings, Inc.*
|
28,800
|
2,247,840
|
||
Blackbaud, Inc.*
|
50,468
|
4,083,871
|
||
BlackLine, Inc.*
|
50,428
|
2,959,115
|
||
Everbridge, Inc.*
|
66,133
|
1,478,734
|
||
Guidewire Software, Inc.*
|
36,894
|
4,120,322
|
||
HubSpot, Inc.*
|
6,786
|
4,146,246
|
||
InterDigital, Inc.
|
14,627
|
1,536,566
|
||
Manhattan Associates, Inc.*
|
62,094
|
15,061,521
|
||
Q2 Holdings, Inc.*
|
108,919
|
4,634,504
|
||
Smartsheet, Inc., Cl. A*
|
71,669
|
3,222,955
|
||
Sprout Social, Inc., Cl. A*
|
73,507
|
4,508,184
|
||
SPS Commerce, Inc.*
|
49,244
|
9,051,047
|
||
Vertex, Inc., Cl. A*
|
260,255
|
6,313,786
|
||
|
||||
|
||||
|
|
73,069,543
|
||
ASSET MANAGEMENT & CUSTODY BANKS—0.4%
|
||||
Affiliated Managers Group, Inc.
|
7,396
|
1,100,821
|
||
AUTOMOTIVE PARTS & EQUIPMENT—0.0%
|
||||
Atmus Filtration Technologies, Inc.*
|
4,639
|
103,589
|
||
BIOTECHNOLOGY—14.9%
|
||||
Absci Corp.*
|
467,626
|
1,851,799
|
||
Akero Therapeutics, Inc.*
|
27,751
|
599,699
|
||
Altimmune, Inc.*
|
136,263
|
1,286,323
|
||
Arcus Biosciences, Inc.*
|
40,904
|
619,287
|
||
Autolus Therapeutics PLC ADR*
|
323,215
|
1,945,754
|
||
Bridgebio Pharma, Inc.*
|
53,285
|
1,827,143
|
||
Cabaletta Bio, Inc.*
|
274,652
|
5,624,873
|
||
Fusion Pharmaceuticals, Inc.*
|
165,175
|
1,919,333
|
||
ImmunoGen, Inc.*
|
59,948
|
1,757,675
|
||
Immunovant, Inc.*
|
102,002
|
3,713,893
|
||
Iovance Biotherapeutics, Inc.*
|
186,787
|
1,443,863
|
||
Karuna Therapeutics, Inc.*
|
4,109
|
1,287,843
|
||
Krystal Biotech, Inc.*
|
12,609
|
1,402,751
|
|
SHARES
|
VALUE
|
||
COMMON STOCKS—97.9% (CONT.)
|
||||
BIOTECHNOLOGY—14.9% (CONT.)
|
||||
MoonLake Immunotherapeutics*
|
72,380
|
$ 4,044,594
|
||
Morphic Holding, Inc.*
|
35,366
|
1,120,748
|
||
Natera, Inc.*
|
15,769
|
1,039,808
|
||
Nuvalent, Inc., Cl. A*
|
37,939
|
2,851,875
|
||
Prothena Corp. PLC*
|
17,994
|
510,850
|
||
RAPT Therapeutics, Inc.*
|
63,896
|
1,581,426
|
||
Scholar Rock Holding Corp.*
|
79,283
|
1,105,998
|
||
Twist Bioscience Corp.*
|
43,019
|
1,393,816
|
||
Vaxcyte, Inc.*
|
62,243
|
4,445,395
|
||
Viking Therapeutics, Inc.*
|
70,840
|
1,710,078
|
||
|
||||
|
||||
|
|
45,084,824
|
||
BUILDING PRODUCTS—0.9%
|
||||
CSW Industrials, Inc.
|
7,270
|
1,538,114
|
||
The AZEK Co., Inc.*
|
33,730
|
1,300,629
|
||
|
||||
|
||||
|
|
2,838,743
|
||
CONSTRUCTION MATERIALS—0.5%
|
||||
Summit Materials, Inc., Cl. A*
|
44,911
|
1,624,880
|
||
CONSUMER STAPLES MERCHANDISE RETAIL—0.7%
|
||||
BJ's Wholesale Club Holdings, Inc.*
|
33,435
|
2,151,208
|
||
ELECTRONIC EQUIPMENT & INSTRUMENTS—1.1%
|
||||
908 Devices, Inc.*
|
456,169
|
3,229,676
|
||
FOOTWEAR—0.6%
|
||||
On Holding AG, Cl. A*
|
70,241
|
1,865,601
|
||
HEALTHCARE DISTRIBUTORS—0.4%
|
||||
PetIQ, Inc., Cl. A*
|
62,035
|
1,114,769
|
||
HEALTHCARE EQUIPMENT—3.0%
|
||||
Glaukos Corp.*
|
12,457
|
1,109,047
|
||
Impulse Dynamics PLC, Cl. E(a),*,@
|
1,105,151
|
2,376,075
|
||
Inmode, Ltd.*
|
62,875
|
1,489,509
|
||
QuidelOrtho Corp.*
|
21,377
|
1,464,538
|
||
Shockwave Medical, Inc.*
|
6,006
|
1,358,857
|
||
Tandem Diabetes Care, Inc.*
|
56,741
|
1,293,695
|
||
|
||||
|
||||
|
|
9,091,721
|
||
HEALTHCARE SERVICES—0.5%
|
||||
Guardant Health, Inc.*
|
27,943
|
612,790
|
||
Privia Health Group, Inc.*
|
48,330
|
974,333
|
||
|
||||
|
||||
|
|
1,587,123
|
||
HEALTHCARE SUPPLIES—1.1%
|
||||
Neogen Corp.*
|
204,201
|
3,165,115
|
|
SHARES
|
VALUE
|
||
COMMON STOCKS—97.9% (CONT.)
|
||||
HEALTHCARE TECHNOLOGY—2.1%
|
||||
Doximity, Inc., Cl. A*
|
18,271
|
$ 492,404
|
||
Veeva Systems, Inc., Cl. A*
|
28,554
|
5,922,385
|
||
|
||||
|
||||
|
|
6,414,789
|
||
HOMEBUILDING—1.1%
|
||||
Skyline Champion Corp.*
|
47,727
|
3,268,345
|
||
HOMEFURNISHING RETAIL—0.6%
|
||||
RH*
|
7,262
|
1,840,772
|
||
HOTELS RESORTS & CRUISE LINES—0.6%
|
||||
MakeMyTrip, Ltd.*
|
30,163
|
1,670,728
|
||
INDUSTRIAL MACHINERY & SUPPLIES & COMPONENTS—3.5%
|
||||
Gates Industrial Corp. PLC*
|
202,298
|
2,605,598
|
||
RBC Bearings, Inc.*
|
17,465
|
4,690,051
|
||
The Middleby Corp.*
|
22,355
|
3,153,620
|
||
|
||||
|
||||
|
|
10,449,269
|
||
INTERACTIVE HOME ENTERTAINMENT—1.9%
|
||||
Take-Two Interactive Software, Inc.*
|
35,288
|
5,820,050
|
||
INTERACTIVE MEDIA & SERVICES—0.5%
|
||||
Bumble, Inc., Cl. A*
|
114,172
|
1,566,440
|
||
LEISURE FACILITIES—0.9%
|
||||
Planet Fitness, Inc., Cl. A*
|
40,235
|
2,726,324
|
||
LIFE SCIENCES TOOLS & SERVICES—6.8%
|
||||
10X Genomics, Inc., Cl. A*
|
39,330
|
1,638,881
|
||
Bio-Techne Corp.
|
115,057
|
8,090,808
|
||
CryoPort, Inc.*
|
115,779
|
1,679,953
|
||
ICON PLC*
|
7,291
|
1,902,003
|
||
MaxCyte, Inc.*
|
193,490
|
984,864
|
||
Mesa Laboratories, Inc.
|
14,266
|
1,307,051
|
||
Quanterix Corp.*
|
22,478
|
496,539
|
||
Repligen Corp.*
|
23,424
|
4,436,506
|
||
|
||||
|
||||
|
|
20,536,605
|
||
MANAGED HEALTHCARE—0.9%
|
||||
HealthEquity, Inc.*
|
35,167
|
2,657,922
|
||
MOVIES & ENTERTAINMENT—2.0%
|
||||
Live Nation Entertainment, Inc.*
|
69,490
|
6,174,186
|
||
OIL & GAS EQUIPMENT & SERVICES—0.9%
|
||||
ChampionX Corp.
|
97,023
|
2,659,400
|
||
OIL & GAS EXPLORATION & PRODUCTION—1.1%
|
||||
Magnolia Oil & Gas Corp., Cl. A
|
162,824
|
3,357,431
|
|
SHARES
|
VALUE
|
||
COMMON STOCKS—97.9% (CONT.)
|
||||
PERSONAL CARE PRODUCTS—1.5%
|
||||
e.l.f. Beauty, Inc.*
|
15,699
|
$ 2,504,462
|
||
Oddity Tech, Ltd., Cl. A*
|
47,544
|
1,963,567
|
||
|
||||
|
||||
|
|
4,468,029
|
||
PHARMACEUTICALS—2.3%
|
||||
Cymabay Therapeutics, Inc.*
|
162,152
|
3,812,193
|
||
Pliant Therapeutics, Inc.*
|
54,049
|
968,558
|
||
Structure Therapeutics, Inc., ADR*
|
52,711
|
2,299,254
|
||
|
||||
|
||||
|
|
7,080,005
|
||
REGIONAL BANKS—1.1%
|
||||
Webster Financial Corp.
|
68,007
|
3,364,986
|
||
RESTAURANTS—8.3%
|
||||
Cava Group, Inc.*
|
20,457
|
957,387
|
||
Kura Sushi USA, Inc., Cl. A*
|
55,791
|
5,474,771
|
||
Shake Shack, Inc., Cl. A*
|
110,444
|
8,345,149
|
||
Wingstop, Inc.
|
36,606
|
10,290,313
|
||
|
||||
|
||||
|
|
25,067,620
|
||
SEMICONDUCTORS—2.0%
|
||||
Rambus, Inc.*
|
30,156
|
2,066,591
|
||
Universal Display Corp.
|
22,496
|
3,819,146
|
||
|
||||
|
||||
|
|
5,885,737
|
||
SOFT DRINKS & NON-ALCOHOLIC BEVERAGES—1.2%
|
||||
Celsius Holdings, Inc.*
|
70,575
|
3,521,692
|
||
SPECIALTY CHEMICALS—0.1%
|
||||
Balchem Corp.
|
1,756
|
246,121
|
||
SYSTEMS SOFTWARE—0.5%
|
||||
Rapid7, Inc.*
|
28,874
|
1,588,936
|
||
TRADING COMPANIES & DISTRIBUTORS—0.7%
|
||||
Xometry, Inc., Cl. A*
|
62,192
|
2,001,338
|
||
TRANSACTION & PAYMENT PROCESSING SERVICES—1.5%
|
||||
DLocal Ltd.*
|
173,167
|
2,789,721
|
||
Marqeta, Inc., Cl. A*
|
288,721
|
1,735,213
|
||
|
||||
|
||||
|
|
4,524,934
|
||
TOTAL COMMON STOCKS
(Cost $248,465,114)
|
|
295,644,699
|
||
PREFERRED STOCKS—0.0%
|
||||
BIOTECHNOLOGY—0.0%
|
||||
Prosetta Biosciences, Inc., Series D(a),(b),*,@
|
50,688
|
—
|
||
(Cost $228,096)
|
|
—
|
|
SHARES
|
VALUE
|
||
RIGHTS—0.1%
|
||||
BIOTECHNOLOGY—0.1%
|
||||
Mirati Therapeutics, Inc. CVR(a),*,@
|
14,432
|
$ —
|
||
Tolero CDR(a),*,@
|
174,782
|
129,339
|
||
|
||||
|
||||
|
|
129,339
|
||
TOTAL RIGHTS
(Cost $94,483)
|
|
129,339
|
||
SPECIAL PURPOSE VEHICLE—0.7%
|
||||
DATA PROCESSING & OUTSOURCED SERVICES—0.7%
|
||||
Crosslink Ventures C, LLC, Cl. A(a),(b),*,@
|
|
1,615,104
|
||
Crosslink Ventures C, LLC, Cl. B(a),(b),*,@
|
|
426,208
|
||
|
||||
|
||||
|
|
2,041,312
|
||
TOTAL SPECIAL PURPOSE VEHICLE
(Cost $2,275,000)
|
|
2,041,312
|
||
SHORT-TERM SECURITIES—1.3%
|
||||
MONEY MARKET FUNDS—1.3%
|
||||
Dreyfus Treasury Obligations Cash Management Fund,
Institutional Shares, 5.19%, (c)
|
4,000,000
|
4,000,000
|
||
(Cost $4,000,000)
|
|
4,000,000
|
||
|
||||
|
||||
Total Investments
(Cost $255,062,693)
|
100.0%
|
$301,815,350
|
||
Affiliated Securities (Cost $2,503,096)
|
|
2,041,312
|
||
Unaffiliated Securities (Cost $252,559,597)
|
|
299,774,038
|
||
Other Assets in Excess of Liabilities
|
0.0%
|
87,438
|
||
NET ASSETS
|
100.0%
|
$301,902,788
|
ADR
|
American Depositary Receipts
|
CDR
|
Contingent Deferred Rights
|
CVR
|
Contingent Value Rights
|
(a)
|
Security is valued in good faith at fair value determined using significant unobservable inputs pursuant to procedures
established by the Valuation Designee (as defined in Note 2).
|
(b)
|
Deemed an affiliate of the Fund in accordance with Section 2(a)(3) of the Investment Company Act of 1940. See Note
4 - Affiliated Securities.
|
(c)
|
Rate shown reflects 7-day effective yield as of January 31, 2024.
|
*
|
Non-income producing security.
|
@
|
Restricted security - Investment in security not registered under the Securities Act of 1933. Sales or transfers of the
investment may be restricted only to qualified buyers.
|
Security
|
Acquisition
Date(s)
|
Acquisition
Cost
|
Market
Value
|
% of net assets
as of
01/31/2024
|
Crosslink Ventures C, LLC, Cl. A
|
10/2/20
|
$1,800,000
|
$1,615,104
|
0.5%
|
Crosslink Ventures C, LLC, Cl. B
|
12/16/20
|
475,000
|
426,208
|
0.2%
|
Impulse Dynamics PLC, Cl. E
|
2/11/22
|
3,646,998
|
2,376,075
|
0.8%
|
Mirati Therapeutics, Inc. CVR
|
1/24/24
|
—
|
—
|
0.0%
|
Prosetta Biosciences, Inc., Series D
|
2/6/15
|
228,096
|
—
|
0.0%
|
Tolero CDR
|
2/6/17
|
94,483
|
129,339
|
0.1%
|
Total
|
|
|
$4,546,726
|
1.6%
|
|
SHARES
|
VALUE
|
||
COMMON STOCKS—99.9%
|
||||
APPLICATION SOFTWARE—31.0%
|
||||
Agilysys, Inc.*
|
596,834
|
$ 49,960,974
|
||
Altair Engineering, Inc., Cl. A*
|
399,586
|
33,972,802
|
||
AppFolio, Inc., Cl. A*
|
322,620
|
70,737,661
|
||
BlackLine, Inc.*
|
555,519
|
32,597,855
|
||
Clearwater Analytics Holdings, Inc.*
|
2,699,755
|
50,890,382
|
||
Confluent, Inc., Cl. A*
|
996,002
|
22,270,605
|
||
Guidewire Software, Inc.*
|
502,618
|
56,132,378
|
||
Intapp, Inc.*
|
406,446
|
17,509,694
|
||
nCino, Inc.*
|
294,270
|
9,263,619
|
||
PROS Holdings, Inc.(a),*
|
2,498,974
|
86,014,685
|
||
Q2 Holdings, Inc.*
|
722,449
|
30,740,205
|
||
Smartsheet, Inc., Cl. A*
|
472,560
|
21,251,023
|
||
Vertex, Inc., Cl. A*
|
518,627
|
12,581,891
|
||
|
||||
|
||||
|
|
493,923,774
|
||
AUTOMOTIVE PARTS & EQUIPMENT—0.7%
|
||||
Modine Manufacturing Co.*
|
156,196
|
10,791,582
|
||
BIOTECHNOLOGY—13.5%
|
||||
Altimmune, Inc.*
|
874,613
|
8,256,347
|
||
Ascendis Pharma AS ADR*
|
148,291
|
19,267,450
|
||
Cabaletta Bio, Inc.*
|
2,130,465
|
43,631,923
|
||
Immunovant, Inc.*
|
579,438
|
21,097,338
|
||
Krystal Biotech, Inc.*
|
123,425
|
13,731,031
|
||
MoonLake Immunotherapeutics*
|
537,151
|
30,015,998
|
||
Natera, Inc.*
|
1,054,375
|
69,525,487
|
||
Nuvalent, Inc., Cl. A*
|
121,844
|
9,159,013
|
||
|
||||
|
||||
|
|
214,684,587
|
||
BUILDING PRODUCTS—1.5%
|
||||
Trex Co., Inc.*
|
300,747
|
24,504,866
|
||
CONSTRUCTION & ENGINEERING—0.6%
|
||||
MYR Group, Inc.*
|
62,392
|
8,975,089
|
||
CONSTRUCTION MACHINERY & HEAVY TRANSPORTATION EQUIPMENT—0.9%
|
||||
Federal Signal Corp.
|
179,885
|
13,847,547
|
||
HEALTHCARE EQUIPMENT—11.2%
|
||||
Alphatec Holdings, Inc.*
|
2,010,140
|
32,343,153
|
||
AtriCure, Inc.*
|
858,558
|
29,242,485
|
||
Glaukos Corp.*
|
245,061
|
21,817,781
|
||
Impulse Dynamics PLC, Cl. E(b),*,@
|
7,255,544
|
23,943,295
|
||
Inari Medical, Inc.*
|
408,888
|
23,286,172
|
||
Shockwave Medical, Inc.*
|
164,934
|
37,316,317
|
||
TransMedics Group, Inc.*
|
128,948
|
11,059,870
|
||
|
||||
|
||||
|
|
179,009,073
|
|
SHARES
|
VALUE
|
||
COMMON STOCKS—99.9% (CONT.)
|
||||
HEALTHCARE TECHNOLOGY—2.5%
|
||||
Schrodinger, Inc.*
|
540,281
|
$ 14,290,432
|
||
Veeva Systems, Inc., Cl. A*
|
120,328
|
24,957,231
|
||
|
||||
|
||||
|
|
39,247,663
|
||
INDUSTRIAL MACHINERY & SUPPLIES & COMPONENTS—5.4%
|
||||
RBC Bearings, Inc.*
|
319,592
|
85,823,236
|
||
LIFE SCIENCES TOOLS & SERVICES—10.3%
|
||||
10X Genomics, Inc., Cl. A*
|
287,226
|
11,968,707
|
||
BioLife Solutions, Inc.*
|
1,469,493
|
24,981,381
|
||
Bio-Techne Corp.
|
546,924
|
38,459,696
|
||
CryoPort, Inc.*
|
1,588,453
|
23,048,453
|
||
Repligen Corp.*
|
291,462
|
55,202,903
|
||
Stevanato Group SpA
|
335,561
|
10,650,706
|
||
|
||||
|
||||
|
|
164,311,846
|
||
OIL & GAS EQUIPMENT & SERVICES—2.0%
|
||||
ChampionX Corp.
|
1,187,679
|
32,554,281
|
||
PERSONAL CARE PRODUCTS—1.0%
|
||||
e.l.f. Beauty, Inc.*
|
99,675
|
15,901,153
|
||
PHARMACEUTICALS—2.4%
|
||||
Cymabay Therapeutics, Inc.*
|
1,344,970
|
31,620,245
|
||
Structure Therapeutics, Inc., ADR*
|
155,403
|
6,778,679
|
||
|
||||
|
||||
|
|
38,398,924
|
||
RESTAURANTS—5.2%
|
||||
Kura Sushi USA, Inc., Cl. A*
|
271,558
|
26,647,987
|
||
Wingstop, Inc.
|
200,582
|
56,385,606
|
||
|
||||
|
||||
|
|
83,033,593
|
||
SEMICONDUCTORS—4.2%
|
||||
Impinj, Inc.*
|
184,553
|
17,897,950
|
||
indie Semiconductor, Inc., Cl. A*
|
1,187,736
|
7,209,557
|
||
Rambus, Inc.*
|
604,326
|
41,414,461
|
||
|
||||
|
||||
|
|
66,521,968
|
||
SOFT DRINKS & NON-ALCOHOLIC BEVERAGES—0.8%
|
||||
Celsius Holdings, Inc.*
|
259,233
|
12,935,727
|
||
SYSTEMS SOFTWARE—4.1%
|
||||
Gitlab, Inc., Cl. A*
|
254,529
|
18,099,557
|
||
Rapid7, Inc.*
|
397,809
|
21,891,429
|
||
Tenable Holdings, Inc.*
|
527,779
|
24,858,391
|
||
|
||||
|
||||
|
|
64,849,377
|
|
SHARES
|
VALUE
|
||
COMMON STOCKS—99.9% (CONT.)
|
||||
TRADING COMPANIES & DISTRIBUTORS—2.6%
|
||||
Xometry, Inc., Cl. A*
|
1,280,218
|
$ 41,197,415
|
||
TOTAL COMMON STOCKS
(Cost $1,228,685,332)
|
|
1,590,511,701
|
||
RIGHTS—0.0%
|
||||
BIOTECHNOLOGY—0.0%
|
||||
Tolero CDR(b),*,@
|
11,905
|
8,810
|
||
(Cost $6,436)
|
|
8,810
|
||
SHORT-TERM SECURITIES—0.3%
|
||||
MONEY MARKET FUNDS—0.3%
|
||||
Dreyfus Treasury Obligations Cash Management Fund,
Institutional Shares, 5.19%, (c)
|
5,000,000
|
5,000,000
|
||
(Cost $5,000,000)
|
|
5,000,000
|
||
|
||||
|
||||
Total Investments
(Cost $1,233,691,768)
|
100.2%
|
$1,595,520,511
|
||
Affiliated Securities (Cost $95,371,657)
|
|
86,014,685
|
||
Unaffiliated Securities (Cost $1,138,320,111)
|
|
1,509,505,826
|
||
Liabilities in Excess of Other Assets
|
(0.2)%
|
(3,475,016)
|
||
NET ASSETS
|
100.0%
|
$1,592,045,495
|
ADR
|
American Depositary Receipts
|
CDR
|
Contingent Deferred Rights
|
(a)
|
Deemed an affiliate of the Fund in accordance with Section 2(a)(3) of the Investment Company Act of 1940. See Note
4 - Affiliated Securities.
|
(b)
|
Security is valued in good faith at fair value determined using significant unobservable inputs pursuant to procedures
established by the Valuation Designee (as defined in Note 2).
|
(c)
|
Rate shown reflects 7-day effective yield as of January 31, 2024.
|
*
|
Non-income producing security.
|
@
|
Restricted security - Investment in security not registered under the Securities Act of 1933. Sales or transfers of the
investment may be restricted only to qualified buyers.
|
Security
|
Acquisition
Date(s)
|
Acquisition
Cost
|
Market
Value
|
% of net assets
as of
01/31/2024
|
Impulse Dynamics PLC, Cl. E
|
11/28/23
|
$23,943,295
|
$23,943,295
|
1.5%
|
Tolero CDR
|
2/6/17
|
6,436
|
8,810
|
0.0%
|
Total
|
|
|
$23,952,105
|
1.5%
|
|
SHARES
|
VALUE
|
||
COMMON STOCKS—96.4%
|
||||
AUSTRALIA—4.7%
|
||||
APPLICATION SOFTWARE—2.1%
|
||||
WiseTech Global, Ltd.
|
71,200
|
$ 3,352,176
|
||
HEALTHCARE TECHNOLOGY—2.6%
|
||||
Pro Medicus, Ltd.
|
65,400
|
4,308,491
|
||
|
||||
|
||||
TOTAL AUSTRALIA
(Cost $5,397,550)
|
|
7,660,667
|
||
BRAZIL—10.1%
|
||||
BROADLINE RETAIL—3.1%
|
||||
MercadoLibre, Inc.*
|
2,950
|
5,049,839
|
||
DIVERSIFIED BANKS—3.4%
|
||||
NU Holdings, Ltd., Cl. A*
|
649,000
|
5,587,890
|
||
DIVERSIFIED CAPITAL MARKETS—2.2%
|
||||
Banco BTG Pactual SA
|
495,000
|
3,604,796
|
||
FOOTWEAR—1.4%
|
||||
Arezzo Industria e Comercio SA
|
177,700
|
2,250,661
|
||
|
||||
|
||||
TOTAL BRAZIL
(Cost $12,642,315)
|
|
16,493,186
|
||
CHINA—3.4%
|
||||
AUTOMOBILE MANUFACTURERS—1.5%
|
||||
BYD Co., Ltd., Cl. H
|
106,984
|
2,395,390
|
||
HOTELS RESORTS & CRUISE LINES—1.9%
|
||||
Trip.com Group, Ltd. ADR*
|
85,800
|
3,136,848
|
||
|
||||
|
||||
TOTAL CHINA
(Cost $5,809,907)
|
|
5,532,238
|
||
DENMARK—3.5%
|
||||
PHARMACEUTICALS—3.5%
|
||||
Novo Nordisk A/S, Cl. B
|
50,600
|
5,783,806
|
||
(Cost $3,756,046)
|
|
|
||
FRANCE—13.5%
|
||||
APPAREL ACCESSORIES & LUXURY GOODS—2.2%
|
||||
LVMH Moet Hennessy Louis Vuitton SE
|
4,350
|
3,619,456
|
||
DATA PROCESSING & OUTSOURCED SERVICES—2.1%
|
||||
Teleperformance SE
|
22,007
|
3,436,922
|
||
ELECTRICAL COMPONENTS & EQUIPMENT—2.4%
|
||||
Schneider Electric SE
|
19,900
|
3,909,358
|
||
HEALTHCARE SUPPLIES—2.1%
|
||||
EssilorLuxottica SA
|
17,900
|
3,507,918
|
||
LIFE SCIENCES TOOLS & SERVICES—2.1%
|
||||
Eurofins Scientific SE
|
56,800
|
3,420,313
|
|
SHARES
|
VALUE
|
||
COMMON STOCKS—96.4% (CONT.)
|
||||
FRANCE—13.5% (CONT.)
|
||||
OIL & GAS STORAGE & TRANSPORTATION—2.6%
|
||||
Gaztransport Et Technigaz SA
|
30,324
|
$ 4,251,352
|
||
|
||||
|
||||
TOTAL FRANCE
(Cost $19,239,945)
|
|
22,145,319
|
||
GERMANY—4.6%
|
||||
AEROSPACE & DEFENSE—2.5%
|
||||
Hensoldt AG
|
138,300
|
4,151,889
|
||
LIFE SCIENCES TOOLS & SERVICES—2.1%
|
||||
Gerresheimer AG
|
32,900
|
3,354,122
|
||
|
||||
|
||||
TOTAL GERMANY
(Cost $7,092,466)
|
|
7,506,011
|
||
GREECE—1.8%
|
||||
OTHER SPECIALTY RETAIL—1.8%
|
||||
JUMBO SA
|
105,700
|
2,969,980
|
||
(Cost $2,795,695)
|
|
|
||
HONG KONG—1.6%
|
||||
FINANCIAL EXCHANGES & DATA—1.6%
|
||||
Hong Kong Exchanges & Clearing, Ltd.
|
88,000
|
2,668,055
|
||
(Cost $3,463,364)
|
|
|
||
INDIA—8.0%
|
||||
DIVERSIFIED BANKS—2.4%
|
||||
HDFC Bank, Ltd. ADR
|
71,700
|
3,978,633
|
||
HOTELS RESORTS & CRUISE LINES—2.9%
|
||||
MakeMyTrip, Ltd.*
|
85,578
|
4,740,165
|
||
PACKAGED FOODS & MEATS—2.7%
|
||||
Patanjali Foods, Ltd.
|
229,156
|
4,383,433
|
||
|
||||
|
||||
TOTAL INDIA
(Cost $9,405,738)
|
|
13,102,231
|
||
IRELAND—2.5%
|
||||
PACKAGED FOODS & MEATS—2.5%
|
||||
Kerry Group PLC, Cl. A
|
45,441
|
4,050,339
|
||
(Cost $4,943,579)
|
|
|
||
ITALY—6.2%
|
||||
APPAREL ACCESSORIES & LUXURY GOODS—1.9%
|
||||
Brunello Cucinelli SpA
|
31,200
|
3,093,071
|
||
AUTOMOBILE MANUFACTURERS—4.3%
|
||||
Ferrari NV
|
20,562
|
7,112,807
|
||
|
||||
|
||||
TOTAL ITALY
(Cost $5,834,021)
|
|
10,205,878
|
|
SHARES
|
VALUE
|
||
COMMON STOCKS—96.4% (CONT.)
|
||||
JAPAN—11.1%
|
||||
ELECTRONIC EQUIPMENT & INSTRUMENTS—2.5%
|
||||
Keyence Corp.
|
8,900
|
$ 3,981,841
|
||
HUMAN RESOURCE & EMPLOYMENT SERVICES—2.1%
|
||||
Recruit Holdings Co., Ltd.
|
88,000
|
3,475,887
|
||
PACKAGED FOODS & MEATS—1.5%
|
||||
Kotobuki Spirits Co., Ltd.
|
182,500
|
2,455,472
|
||
SEMICONDUCTOR MATERIALS & EQUIPMENT—5.0%
|
||||
Lasertec Corp.
|
18,000
|
4,687,726
|
||
Tokyo Electron, Ltd.
|
18,900
|
3,507,320
|
||
|
|
8,195,046
|
||
|
||||
|
||||
TOTAL JAPAN
(Cost $14,451,620)
|
|
18,108,246
|
||
NETHERLANDS—6.5%
|
||||
HEAVY ELECTRICAL EQUIPMENT—2.1%
|
||||
Alfen NV*
|
55,000
|
3,326,046
|
||
SEMICONDUCTOR MATERIALS & EQUIPMENT—4.4%
|
||||
ASML Holding NV
|
8,350
|
7,244,361
|
||
|
||||
|
||||
TOTAL NETHERLANDS
(Cost $4,027,634)
|
|
10,570,407
|
||
SAUDI ARABIA—1.8%
|
||||
IT CONSULTING & OTHER SERVICES—1.8%
|
||||
Elm Co.
|
12,000
|
2,880,526
|
||
(Cost $1,412,579)
|
|
|
||
SPAIN—1.9%
|
||||
BIOTECHNOLOGY—1.9%
|
||||
Grifols SA, ADR*
|
394,741
|
3,173,718
|
||
(Cost $6,248,951)
|
|
|
||
SWEDEN—2.8%
|
||||
ASSET MANAGEMENT & CUSTODY BANKS—2.8%
|
||||
EQT AB
|
168,798
|
4,532,588
|
||
(Cost $2,822,733)
|
|
|
||
SWITZERLAND—5.3%
|
||||
ASSET MANAGEMENT & CUSTODY BANKS—3.0%
|
||||
Partners Group Holding AG
|
3,594
|
4,848,935
|
||
SPECIALTY CHEMICALS—2.3%
|
||||
Sika AG
|
13,700
|
3,781,995
|
||
|
||||
|
||||
TOTAL SWITZERLAND
(Cost $5,455,134)
|
|
8,630,930
|
|
SHARES
|
VALUE
|
||
COMMON STOCKS—96.4% (CONT.)
|
||||
TAIWAN—2.7%
|
||||
SEMICONDUCTORS—2.7%
|
||||
Taiwan Semiconductor Manufacturing Co., Ltd. ADR
|
38,800
|
$ 4,382,848
|
||
(Cost $4,351,074)
|
|
|
||
UNITED KINGDOM—2.5%
|
||||
FINANCIAL EXCHANGES & DATA—2.5%
|
||||
London Stock Exchange Group PLC
|
36,300
|
4,106,041
|
||
(Cost $2,749,816)
|
|
|
||
UNITED STATES—1.9%
|
||||
OIL & GAS EQUIPMENT & SERVICES—1.9%
|
||||
Schlumberger NV
|
65,800
|
3,204,460
|
||
(Cost $2,339,614)
|
|
|
||
TOTAL COMMON STOCKS
(Cost $124,239,781)
|
|
157,707,474
|
|
|
|
||
MONEY MARKET FUNDS—3.1%
|
||||
UNITED STATES—3.1%
|
||||
Dreyfus Treasury Obligations Cash Management Fund,
Institutional Shares, 5.19%(a)
|
5,000,000
|
5,000,000
|
||
(Cost $5,000,000)
|
|
|
||
|
||||
|
||||
Total Investments
(Cost $129,239,781)
|
99.5%
|
$162,707,474
|
||
Unaffiliated Securities (Cost $129,239,781)
|
|
162,707,474
|
||
Other Assets in Excess of Liabilities
|
0.5%
|
832,148
|
||
NET ASSETS
|
100.0%
|
$163,539,622
|
ADR
|
American Depositary Receipts
|
(a)
|
Rate shown reflects 7-day effective yield as of January 31, 2024.
|
*
|
Non-income producing security.
|
|
SHARES
|
VALUE
|
||
COMMON STOCKS—97.7%
|
||||
BIOTECHNOLOGY—34.5%
|
||||
Aerovate Therapeutics, Inc.*
|
24,747
|
$ 477,865
|
||
Amgen, Inc.
|
19,665
|
6,179,923
|
||
Arrowhead Pharmaceuticals, Inc.*
|
37,093
|
1,190,685
|
||
Ascendis Pharma AS ADR*
|
12,626
|
1,640,496
|
||
Biohaven, Ltd.*
|
30,099
|
1,338,803
|
||
Cabaletta Bio, Inc.*
|
64,373
|
1,318,359
|
||
Cytokinetics, Inc.*
|
16,970
|
1,325,866
|
||
Forte Biosciences, Inc.*
|
1,192,842
|
727,753
|
||
HilleVax, Inc.*
|
87,043
|
1,233,399
|
||
Madrigal Pharmaceuticals, Inc.*
|
8,673
|
1,879,526
|
||
Natera, Inc.*
|
13,074
|
862,100
|
||
Neurocrine Biosciences, Inc.*
|
10,678
|
1,492,464
|
||
Nuvalent, Inc., Cl. A*
|
19,865
|
1,493,252
|
||
RAPT Therapeutics, Inc.*
|
48,179
|
1,192,430
|
||
Regeneron Pharmaceuticals, Inc.*
|
6,215
|
5,859,378
|
||
Sarepta Therapeutics, Inc.*
|
11,753
|
1,398,489
|
||
Swedish Orphan Biovitrum AB*
|
32,027
|
898,938
|
||
Vaxcyte, Inc.*
|
19,783
|
1,412,902
|
||
Vertex Pharmaceuticals, Inc.*
|
13,742
|
5,955,508
|
||
Viking Therapeutics, Inc.*
|
36,334
|
877,103
|
||
|
||||
|
||||
|
|
38,755,239
|
||
HEALTHCARE DISTRIBUTORS—6.7%
|
||||
Cardinal Health, Inc.
|
27,002
|
2,948,349
|
||
McKesson Corp.
|
9,126
|
4,561,996
|
||
|
||||
|
||||
|
|
7,510,345
|
||
HEALTHCARE EQUIPMENT—25.3%
|
||||
Boston Scientific Corp.*
|
89,681
|
5,673,220
|
||
Dexcom, Inc.*
|
7,479
|
907,577
|
||
Glaukos Corp.*
|
15,432
|
1,373,911
|
||
Impulse Dynamics PLC, Cl. E(a),*,@
|
2,163,678
|
5,397,713
|
||
Inspire Medical Systems, Inc.*
|
10,329
|
2,178,076
|
||
Intuitive Surgical, Inc.*
|
12,471
|
4,716,782
|
||
Masimo Corp.*
|
9,097
|
1,172,967
|
||
Stryker Corp.
|
17,395
|
5,835,674
|
||
Teleflex, Inc.
|
4,597
|
1,116,289
|
||
|
||||
|
||||
|
|
28,372,209
|
||
HEALTHCARE FACILITIES—2.4%
|
||||
Acadia Healthcare Co., Inc.*
|
33,114
|
2,719,984
|
||
HEALTHCARE SUPPLIES—2.9%
|
||||
ConvaTec Group PLC(a),(b),@
|
727,080
|
2,212,778
|
||
Schott Pharma AG & Co. KGaA*
|
25,715
|
1,000,447
|
||
|
||||
|
||||
|
|
3,213,225
|
|
SHARES
|
VALUE
|
||
COMMON STOCKS—97.7% (CONT.)
|
||||
LIFE & HEALTH INSURANCE—2.5%
|
||||
Oscar Health, Inc., Cl. A*
|
221,750
|
$ 2,776,310
|
||
LIFE SCIENCES TOOLS & SERVICES—3.2%
|
||||
Bruker Corp.
|
21,653
|
1,548,406
|
||
Codexis, Inc.*
|
339,958
|
894,089
|
||
West Pharmaceutical Services, Inc.
|
3,053
|
1,138,861
|
||
|
||||
|
||||
|
|
3,581,356
|
||
MANAGED HEALTHCARE—6.7%
|
||||
Molina Healthcare, Inc.*
|
7,911
|
2,819,797
|
||
UnitedHealth Group, Inc.
|
9,070
|
4,641,482
|
||
|
||||
|
||||
|
|
7,461,279
|
||
PHARMACEUTICALS—13.5%
|
||||
Elanco Animal Health, Inc.*
|
129,077
|
1,902,595
|
||
Eli Lilly & Co.
|
8,844
|
5,709,775
|
||
Intra-Cellular Therapies, Inc.*
|
16,740
|
1,127,271
|
||
Merck & Co., Inc.
|
18,479
|
2,231,894
|
||
Novo Nordisk A/S
|
36,551
|
4,193,862
|
||
|
||||
|
||||
|
|
15,165,397
|
||
TOTAL COMMON STOCKS
(Cost $94,972,450)
|
|
109,555,344
|
||
PREFERRED STOCKS—0.0%
|
||||
BIOTECHNOLOGY—0.0%
|
||||
Prosetta Biosciences, Inc., Series D(a),(c),*,@
|
897,366
|
—
|
||
(Cost $4,038,147)
|
|
—
|
||
RIGHTS—1.3%
|
||||
BIOTECHNOLOGY—1.3%
|
||||
Tolero CDR(a),*,@
|
1,956,996
|
1,448,177
|
||
(Cost $1,044,373)
|
|
1,448,177
|
||
|
||||
|
||||
Total Investments
(Cost $100,054,970)
|
99.0%
|
$111,003,521
|
||
Affiliated Securities (Cost $4,038,147)
|
|
0
|
||
Unaffiliated Securities (Cost $96,016,823)
|
|
111,003,521
|
||
Other Assets in Excess of Liabilities
|
1.0%
|
1,177,589
|
||
NET ASSETS
|
100.0%
|
$112,181,110
|
ADR
|
American Depositary Receipts
|
CDR
|
Contingent Deferred Rights
|
(a)
|
Security is valued in good faith at fair value determined using significant unobservable inputs pursuant to procedures
established by the Valuation Designee (as defined in Note 2).
|
(b)
|
Pursuant to Securities and Exchange Commission Rule 144A, these securities may be sold prior to their maturity only
to qualified institutional buyers. These securities represent 2.0% of the net assets of the Fund.
|
(c)
|
Deemed an affiliate of the Fund in accordance with Section 2(a)(3) of the Investment Company Act of 1940. See Note
4 - Affiliated Securities.
|
*
|
Non-income producing security.
|
@
|
Restricted security - Investment in security not registered under the Securities Act of 1933. Sales or transfers of the
investment may be restricted only to qualified buyers.
|
Security
|
Acquisition
Date(s)
|
Acquisition
Cost
|
Market
Value
|
% of net assets
as of
01/31/2024
|
ConvaTec Group PLC
|
12/11/23-1/8/24
|
$2,200,180
|
$2,212,778
|
2.0%
|
Impulse Dynamics PLC, Cl. E
|
2/11/22-6/2/23
|
7,140,138
|
5,397,713
|
4.8%
|
Prosetta Biosciences, Inc., Series D
|
2/6/15
|
4,038,147
|
—
|
0.0%
|
Tolero CDR
|
2/6/17
|
1,044,373
|
1,448,177
|
1.3%
|
Total
|
|
|
$9,058,668
|
8.1%
|
Alger Capital Appreciation Fund
|
TOTAL
|
LEVEL 1
|
LEVEL 2
|
LEVEL 3
|
COMMON STOCKS
|
|
|
|
|
Communication Services
|
$258,377,698
|
$258,377,698
|
$—
|
$—
|
Consumer Discretionary
|
229,069,889
|
225,152,987
|
3,916,902
|
—
|
Energy
|
24,801,448
|
24,801,448
|
—
|
—
|
Financials
|
90,850,880
|
90,850,880
|
—
|
—
|
Health Care
|
237,316,704
|
237,316,704
|
—
|
—
|
Industrials
|
150,941,826
|
150,941,826
|
—
|
—
|
Information Technology
|
779,363,207
|
779,363,207
|
—
|
—
|
Materials
|
23,775,753
|
23,775,753
|
—
|
—
|
TOTAL COMMON STOCKS
|
$1,794,497,405
|
$1,790,580,503
|
$3,916,902
|
$—
|
PREFERRED STOCKS
|
|
|
|
|
Information Technology
|
1,023,157
|
—
|
—
|
1,023,157
|
REAL ESTATE INVESTMENT
TRUST
|
|
|
|
|
Real Estate
|
6,942,685
|
6,942,685
|
—
|
—
|
SPECIAL PURPOSE VEHICLE
|
|
|
|
|
Information Technology
|
2,489,952
|
—
|
—
|
2,489,952
|
TOTAL INVESTMENTS IN
SECURITIES
|
$1,804,953,199
|
$1,797,523,188
|
$3,916,902
|
$3,513,109
|
Alger 35 Fund
|
TOTAL
|
LEVEL 1
|
LEVEL 2
|
LEVEL 3
|
COMMON STOCKS
|
|
|
|
|
Communication Services
|
$7,947,453
|
$7,947,453
|
$—
|
$—
|
Consumer Discretionary
|
4,214,360
|
4,214,360
|
—
|
—
|
Energy
|
1,572,453
|
1,572,453
|
—
|
—
|
Financials
|
320,818
|
320,818
|
—
|
—
|
Health Care
|
3,627,188
|
3,082,889
|
—
|
544,299
|
Industrials
|
2,171,080
|
2,171,080
|
—
|
—
|
Information Technology
|
11,984,024
|
11,984,024
|
—
|
—
|
TOTAL COMMON STOCKS
|
$31,837,376
|
$31,293,077
|
$—
|
$544,299
|
Alger 35 Fund
|
TOTAL
|
LEVEL 1
|
LEVEL 2
|
LEVEL 3
|
REAL ESTATE INVESTMENT
TRUST
|
|
|
|
|
Real Estate
|
$313,709
|
$313,709
|
$—
|
$—
|
TOTAL INVESTMENTS IN
SECURITIES
|
$32,151,085
|
$31,606,786
|
$—
|
$544,299
|
Alger Growth & Income Fund
|
TOTAL
|
LEVEL 1
|
LEVEL 2
|
LEVEL 3
|
COMMON STOCKS
|
|
|
|
|
Communication Services
|
$39,334,046
|
$39,334,046
|
$—
|
$—
|
Consumer Discretionary
|
28,275,556
|
28,275,556
|
—
|
—
|
Consumer Staples
|
26,328,738
|
26,328,738
|
—
|
—
|
Energy
|
18,719,993
|
18,719,993
|
—
|
—
|
Financials
|
51,026,453
|
51,026,453
|
—
|
—
|
Health Care
|
51,831,529
|
51,831,529
|
—
|
—
|
Industrials
|
25,502,801
|
25,502,801
|
—
|
—
|
Information Technology
|
127,172,441
|
127,172,441
|
—
|
—
|
Materials
|
8,591,490
|
8,591,490
|
—
|
—
|
Utilities
|
6,368,583
|
6,368,583
|
—
|
—
|
TOTAL COMMON STOCKS
|
$383,151,630
|
$383,151,630
|
$—
|
$—
|
MASTER LIMITED
PARTNERSHIP
|
|
|
|
|
Energy
|
1,974,234
|
1,974,234
|
—
|
—
|
REAL ESTATE INVESTMENT
TRUST
|
|
|
|
|
Financials
|
1,027,230
|
1,027,230
|
—
|
—
|
Real Estate
|
12,550,645
|
12,550,645
|
—
|
—
|
TOTAL REAL ESTATE
INVESTMENT TRUST
|
$13,577,875
|
$13,577,875
|
$—
|
$—
|
SHORT-TERM INVESTMENTS
|
|
|
|
|
Money Market Funds
|
16,000,000
|
16,000,000
|
—
|
—
|
TOTAL INVESTMENTS IN
SECURITIES
|
$414,703,739
|
$414,703,739
|
$—
|
$—
|
Alger Mid Cap Growth Fund
|
TOTAL
|
LEVEL 1
|
LEVEL 2
|
LEVEL 3
|
COMMON STOCKS
|
|
|
|
|
Communication Services
|
$14,005,428
|
$14,005,428
|
$—
|
$—
|
Consumer Discretionary
|
26,138,805
|
26,138,805
|
—
|
—
|
Consumer Staples
|
3,628,229
|
3,628,229
|
—
|
—
|
Energy
|
5,665,012
|
5,665,012
|
—
|
—
|
Financials
|
16,402,547
|
16,402,547
|
—
|
—
|
Health Care
|
37,360,157
|
37,360,157
|
—
|
—
|
Industrials
|
42,195,428
|
42,195,428
|
—
|
—
|
Information Technology
|
59,701,953
|
59,701,953
|
—
|
—
|
Materials
|
3,336,252
|
3,336,252
|
—
|
—
|
Real Estate
|
10,955,019
|
10,955,019
|
—
|
—
|
TOTAL COMMON STOCKS
|
$219,388,830
|
$219,388,830
|
$—
|
$—
|
Alger Mid Cap Growth Fund
|
TOTAL
|
LEVEL 1
|
LEVEL 2
|
LEVEL 3
|
PREFERRED STOCKS
|
|
|
|
|
Health Care
|
$—
1
|
$—
|
$—
|
$—
1
|
RIGHTS
|
|
|
|
|
Health Care
|
436,644
|
—
|
—
|
436,644
|
SPECIAL PURPOSE VEHICLE
|
|
|
|
|
Information Technology
|
1,502,944
|
—
|
—
|
1,502,944
|
WARRANTS
|
|
|
|
|
Information Technology
|
—
2
|
—
|
—
2
|
—
|
TOTAL INVESTMENTS IN
SECURITIES
|
$221,328,418
|
$219,388,830
|
$—
|
$1,939,588
|
Alger Mid Cap Focus Fund
|
TOTAL
|
LEVEL 1
|
LEVEL 2
|
LEVEL 3
|
COMMON STOCKS
|
|
|
|
|
Communication Services
|
$12,827,516
|
$12,827,516
|
$—
|
$—
|
Consumer Discretionary
|
26,085,771
|
26,085,771
|
—
|
—
|
Consumer Staples
|
3,926,381
|
3,926,381
|
—
|
—
|
Energy
|
10,420,343
|
10,420,343
|
—
|
—
|
Health Care
|
44,926,724
|
44,926,724
|
—
|
—
|
Industrials
|
37,917,254
|
37,917,254
|
—
|
—
|
Information Technology
|
120,126,964
|
120,126,964
|
—
|
—
|
Materials
|
5,748,197
|
5,748,197
|
—
|
—
|
TOTAL COMMON STOCKS
|
$261,979,150
|
$261,979,150
|
$—
|
$—
|
TOTAL INVESTMENTS IN
SECURITIES
|
$261,979,150
|
$261,979,150
|
$—
|
$—
|
Alger Weatherbie Specialized Growth
Fund
|
TOTAL
|
LEVEL 1
|
LEVEL 2
|
LEVEL 3
|
COMMON STOCKS
|
|
|
|
|
Consumer Discretionary
|
$40,730,291
|
$40,730,291
|
$—
|
$—
|
Consumer Staples
|
1,378,553
|
1,378,553
|
—
|
—
|
Energy
|
7,596,141
|
7,596,141
|
—
|
—
|
Financials
|
53,941,151
|
53,941,151
|
—
|
—
|
Health Care
|
172,506,060
|
170,560,499
|
—
|
1,945,561
|
Industrials
|
112,365,709
|
112,365,709
|
—
|
—
|
Information Technology
|
110,027,494
|
110,027,494
|
—
|
—
|
Real Estate
|
32,181,272
|
32,181,272
|
—
|
—
|
TOTAL COMMON STOCKS
|
$530,726,671
|
$528,781,110
|
$—
|
$1,945,561
|
PREFERRED STOCKS
|
|
|
|
|
Health Care
|
—
1
|
—
|
—
|
—
1
|
SHORT-TERM INVESTMENTS
|
|
|
|
|
Money Market Funds
|
13,000,000
|
13,000,000
|
—
|
—
|
TOTAL INVESTMENTS IN
SECURITIES
|
$543,726,671
|
$541,781,110
|
$—
|
$1,945,561
|
Alger Small Cap Growth Fund
|
TOTAL
|
LEVEL 1
|
LEVEL 2
|
LEVEL 3
|
COMMON STOCKS
|
|
|
|
|
Communication Services
|
$13,560,676
|
$13,560,676
|
$—
|
$—
|
Consumer Discretionary
|
43,024,847
|
43,024,847
|
—
|
—
|
Consumer Staples
|
10,140,929
|
10,140,929
|
—
|
—
|
Energy
|
6,016,831
|
6,016,831
|
—
|
—
|
Financials
|
6,201,020
|
6,201,020
|
—
|
—
|
Health Care
|
96,732,873
|
94,356,798
|
—
|
2,376,075
|
Industrials
|
31,532,909
|
31,532,909
|
—
|
—
|
Information Technology
|
86,563,613
|
86,563,613
|
—
|
—
|
Materials
|
1,871,001
|
1,871,001
|
—
|
—
|
TOTAL COMMON STOCKS
|
$295,644,699
|
$293,268,624
|
$—
|
$2,376,075
|
PREFERRED STOCKS
|
|
|
|
|
Health Care
|
—
1
|
—
|
—
|
—
1
|
RIGHTS
|
|
|
|
|
Health Care
|
129,339
3
|
—
|
—
|
129,339
3
|
SPECIAL PURPOSE VEHICLE
|
|
|
|
|
Information Technology
|
2,041,312
|
—
|
—
|
2,041,312
|
SHORT-TERM INVESTMENTS
|
|
|
|
|
Money Market Funds
|
4,000,000
|
4,000,000
|
—
|
—
|
TOTAL INVESTMENTS IN
SECURITIES
|
$301,815,350
|
$297,268,624
|
$—
|
$4,546,726
|
Alger Small Cap Focus Fund
|
TOTAL
|
LEVEL 1
|
LEVEL 2
|
LEVEL 3
|
COMMON STOCKS
|
|
|
|
|
Consumer Discretionary
|
$93,825,175
|
$93,825,175
|
$—
|
$—
|
Consumer Staples
|
28,836,880
|
28,836,880
|
—
|
—
|
Energy
|
32,554,281
|
32,554,281
|
—
|
—
|
Health Care
|
635,652,093
|
611,708,798
|
—
|
23,943,295
|
Industrials
|
174,348,153
|
174,348,153
|
—
|
—
|
Information Technology
|
625,295,119
|
625,295,119
|
—
|
—
|
TOTAL COMMON STOCKS
|
$1,590,511,701
|
$1,566,568,406
|
$—
|
$23,943,295
|
RIGHTS
|
|
|
|
|
Health Care
|
8,810
|
—
|
—
|
8,810
|
SHORT-TERM INVESTMENTS
|
|
|
|
|
Money Market Funds
|
5,000,000
|
5,000,000
|
—
|
—
|
TOTAL INVESTMENTS IN
SECURITIES
|
$1,595,520,511
|
$1,571,568,406
|
$—
|
$23,952,105
|
Alger International Focus Fund
|
TOTAL
|
LEVEL 1
|
LEVEL 2
|
LEVEL 3
|
COMMON STOCKS
|
|
|
|
|
Consumer Discretionary
|
$34,368,217
|
$25,260,300
|
$9,107,917
|
$—
|
Consumer Staples
|
10,889,244
|
—
|
10,889,244
|
—
|
Energy
|
7,455,812
|
3,204,460
|
4,251,352
|
—
|
Financials
|
29,326,938
|
13,171,319
|
16,155,619
|
—
|
Health Care
|
23,548,368
|
3,173,718
|
20,374,650
|
—
|
Industrials
|
18,300,102
|
—
|
18,300,102
|
—
|
Information Technology
|
30,036,798
|
4,382,848
|
25,653,950
|
—
|
Materials
|
3,781,995
|
—
|
3,781,995
|
—
|
TOTAL COMMON STOCKS
|
$157,707,474
|
$49,192,645
|
$108,514,829
|
$—
|
SHORT-TERM INVESTMENTS
|
|
|
|
|
Money Market Funds
|
5,000,000
|
5,000,000
|
—
|
—
|
TOTAL INVESTMENTS IN
SECURITIES
|
$162,707,474
|
$54,192,645
|
$108,514,829
|
$—
|
Alger Health Sciences Fund
|
TOTAL
|
LEVEL 1
|
LEVEL 2
|
LEVEL 3
|
COMMON STOCKS
|
|
|
|
|
Financials
|
$2,776,310
|
$2,776,310
|
$—
|
$—
|
Health Care
|
106,779,034
|
98,269,605
|
3,111,716
|
5,397,713
|
TOTAL COMMON STOCKS
|
$109,555,344
|
$101,045,915
|
$3,111,716
|
$5,397,713
|
PREFERRED STOCKS
|
|
|
|
|
Health Care
|
—
1
|
—
|
—
|
—
1
|
RIGHTS
|
|
|
|
|
Health Care
|
1,448,177
|
—
|
—
|
1,448,177
|
TOTAL INVESTMENTS IN
SECURITIES
|
$111,003,521
|
$101,045,915
|
$3,111,716
|
$6,845,890
|
1
|
Alger Mid Cap Growth Fund's, Alger Weatherbie Specialized Growth Fund's, Alger Small Cap Growth Fund's and Alger
Health Sciences Fund's holdings of Prosetta Biosciences, Inc., Series D shares are classified as a Level 3 investment
and are fair valued at zero as of January 31, 2024.
|
2
|
Alger Mid Cap Growth Fund'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 January 31, 2024.
|
3
|
Alger Small Cap Growth Fund's holdings of Mirati Therapeutics, Inc. rights are classified as a Level 3 investment and
are fair valued at zero as of January 31, 2024.
|
|
FAIR VALUE
MEASUREMENTS
USING SIGNIFICANT
UNOBSERVABLE
INPUTS (LEVEL 3)
|
Alger Capital Appreciation Fund
|
Preferred Stocks
|
Opening balance at November 1, 2023
|
$ 1,049,884
|
Transfers into Level 3
|
—
|
Transfers out of Level 3
|
—
|
Total gains or losses
|
|
Included in net realized gain (loss) on investments
|
—
|
Included in net change in unrealized appreciation (depreciation) on investments
|
(26,727)
|
Purchases and sales
|
|
Purchases
|
—
|
Sales/Distributions
|
—
|
Closing balance at January 31, 2024
|
1,023,157
|
Net change in unrealized appreciation (depreciation) attributable to investments
still held at January 31, 2024
|
$ (26,727)
|
|
FAIR VALUE
MEASUREMENTS
USING SIGNIFICANT
UNOBSERVABLE
INPUTS (LEVEL 3)
|
Alger Capital Appreciation Fund
|
Special Purpose
Vehicle
|
Opening balance at November 1, 2023
|
$ 2,555,109
|
Transfers into Level 3
|
—
|
Transfers out of Level 3
|
—
|
Total gains or losses
|
|
Included in net realized gain (loss) on investments
|
—
|
Included in net change in unrealized appreciation (depreciation) on investments
|
(65,157)
|
Purchases and sales
|
|
Purchases
|
—
|
Sales/Distributions
|
—
|
Closing balance at January 31, 2024
|
2,489,952
|
Net change in unrealized appreciation (depreciation) attributable to investments
still held at January 31, 2024
|
$ (65,157)
|
|
FAIR VALUE
MEASUREMENTS
USING SIGNIFICANT
UNOBSERVABLE
INPUTS (LEVEL 3)
|
Alger 35 Fund
|
Common Stocks
|
Opening balance at November 1, 2023
|
$ 470,076
|
Transfers into Level 3
|
—
|
Transfers out of Level 3
|
—
|
Total gains or losses
|
|
Included in net realized gain (loss) on investments
|
—
|
Included in net change in unrealized appreciation (depreciation) on investments
|
74,223
|
Purchases and sales
|
|
Purchases
|
—
|
Sales/Distributions
|
—
|
Closing balance at January 31, 2024
|
544,299
|
Net change in unrealized appreciation (depreciation) attributable to investments
still held at January 31, 2024
|
$ 74,223
|
|
FAIR VALUE
MEASUREMENTS
USING SIGNIFICANT
UNOBSERVABLE
INPUTS (LEVEL 3)
|
Alger Mid Cap Growth Fund
|
Preferred Stocks
|
Opening balance at November 1, 2023
|
—*
|
Transfers into Level 3
|
—
|
Transfers out of Level 3
|
—
|
Total gains or losses
|
|
Included in net realized gain (loss) on investments
|
—
|
Included in net change in unrealized appreciation (depreciation) on investments
|
—
|
Purchases and sales
|
|
Purchases
|
—
|
Sales/Distributions
|
—
|
Closing balance at January 31, 2024
|
—*
|
Net change in unrealized appreciation (depreciation) attributable to investments
still held at January 31, 2024
|
$ —
|
|
FAIR VALUE
MEASUREMENTS
USING SIGNIFICANT
UNOBSERVABLE
INPUTS (LEVEL 3)
|
Alger Mid Cap Growth Fund
|
Rights
|
Opening balance at November 1, 2023
|
$ 401,240
|
Transfers into Level 3
|
—
|
Transfers out of Level 3
|
—
|
Total gains or losses
|
|
Included in net realized gain (loss) on investments
|
—
|
Included in net change in unrealized appreciation (depreciation) on investments
|
35,404
|
Purchases and sales
|
|
Purchases
|
—
|
Sales/Distributions
|
—
|
Closing balance at January 31, 2024
|
436,644
|
Net change in unrealized appreciation (depreciation) attributable to investments
still held at January 31, 2024
|
$ 35,404
|
|
FAIR VALUE
MEASUREMENTS
USING SIGNIFICANT
UNOBSERVABLE
INPUTS (LEVEL 3)
|
Alger Mid Cap Growth Fund
|
Special Purpose
Vehicle
|
Opening balance at November 1, 2023
|
$ 1,542,273
|
Transfers into Level 3
|
—
|
Transfers out of Level 3
|
—
|
Total gains or losses
|
|
Included in net realized gain (loss) on investments
|
—
|
Included in net change in unrealized appreciation (depreciation) on investments
|
(39,329)
|
Purchases and sales
|
|
Purchases
|
—
|
Sales/Distributions
|
—
|
Closing balance at January 31, 2024
|
1,502,944
|
Net change in unrealized appreciation (depreciation) attributable to investments
still held at January 31, 2024
|
$ (39,329)
|
|
FAIR VALUE
MEASUREMENTS
USING SIGNIFICANT
UNOBSERVABLE
INPUTS (LEVEL 3)
|
Alger Weatherbie Specialized Growth Fund
|
Common Stocks
|
Opening balance at November 1, 2023
|
$ 2,578,999
|
Transfers into Level 3
|
—
|
Transfers out of Level 3
|
—
|
Total gains or losses
|
|
Included in net realized gain (loss) on investments
|
—
|
Included in net change in unrealized appreciation (depreciation) on investments
|
(633,438)
|
Purchases and sales
|
|
Purchases
|
—
|
Sales/Distributions
|
—
|
Closing balance at January 31, 2024
|
1,945,561
|
Net change in unrealized appreciation (depreciation) attributable to investments
still held at January 31, 2024
|
$ (633,438)
|
|
FAIR VALUE
MEASUREMENTS
USING SIGNIFICANT
UNOBSERVABLE
INPUTS (LEVEL 3)
|
Alger Weatherbie Specialized Growth Fund
|
Preferred Stocks
|
Opening balance at November 1, 2023
|
—*
|
Transfers into Level 3
|
—
|
Transfers out of Level 3
|
—
|
Total gains or losses
|
|
Included in net realized gain (loss) on investments
|
—
|
Included in net change in unrealized appreciation (depreciation) on investments
|
—
|
Purchases and sales
|
|
Purchases
|
—
|
Sales/Distributions
|
—
|
Closing balance at January 31, 2024
|
—*
|
Net change in unrealized appreciation (depreciation) attributable to investments
still held at January 31, 2024
|
$ —
|
|
FAIR VALUE
MEASUREMENTS
USING SIGNIFICANT
UNOBSERVABLE
INPUTS (LEVEL 3)
|
Alger Small Cap Growth Fund
|
Common Stocks
|
Opening balance at November 1, 2023
|
$ 3,149,680
|
Transfers into Level 3
|
—
|
Transfers out of Level 3
|
—
|
Total gains or losses
|
|
Included in net realized gain (loss) on investments
|
—
|
Included in net change in unrealized appreciation (depreciation) on investments
|
(773,605)
|
Purchases and sales
|
|
Purchases
|
—
|
Sales/Distributions
|
—
|
Closing balance at January 31, 2024
|
2,376,075
|
Net change in unrealized appreciation (depreciation) attributable to investments
still held at January 31, 2024
|
$ (773,605)
|
|
FAIR VALUE
MEASUREMENTS
USING SIGNIFICANT
UNOBSERVABLE
INPUTS (LEVEL 3)
|
Alger Small Cap Growth Fund
|
Preferred Stocks
|
Opening balance at November 1, 2023
|
—*
|
Transfers into Level 3
|
—
|
Transfers out of Level 3
|
—
|
Total gains or losses
|
|
Included in net realized gain (loss) on investments
|
—
|
Included in net change in unrealized appreciation (depreciation) on investments
|
—
|
Purchases and sales
|
|
Purchases
|
—
|
Sales/Distributions
|
—
|
Closing balance at January 31, 2024
|
—*
|
Net change in unrealized appreciation (depreciation) attributable to investments
still held at January 31, 2024
|
$ —
|
|
FAIR VALUE
MEASUREMENTS
USING SIGNIFICANT
UNOBSERVABLE
INPUTS (LEVEL 3)
|
Alger Small Cap Growth Fund
|
Rights
|
Opening balance at November 1, 2023
|
$ 118,852
|
Transfers into Level 3
|
—
|
Transfers out of Level 3
|
—
|
Total gains or losses
|
|
Included in net realized gain (loss) on investments
|
—
|
Included in net change in unrealized appreciation (depreciation) on investments
|
10,487
|
Purchases and sales
|
|
Purchases
|
—*
|
Sales/Distributions
|
—
|
Closing balance at January 31, 2024
|
129,339*
|
Net change in unrealized appreciation (depreciation) attributable to investments
still held at January 31, 2024
|
$ 10,487
|
|
FAIR VALUE
MEASUREMENTS
USING SIGNIFICANT
UNOBSERVABLE
INPUTS (LEVEL 3)
|
Alger Small Cap Growth Fund
|
Special Purpose
Vehicle
|
Opening balance at November 1, 2023
|
$ 2,094,729
|
Transfers into Level 3
|
—
|
Transfers out of Level 3
|
—
|
Total gains or losses
|
|
Included in net realized gain (loss) on investments
|
—
|
Included in net change in unrealized appreciation (depreciation) on investments
|
(53,417)
|
Purchases and sales
|
|
Purchases
|
—
|
Sales/Distributions
|
—
|
Closing balance at January 31, 2024
|
2,041,312
|
Net change in unrealized appreciation (depreciation) attributable to investments
still held at January 31, 2024
|
$ (53,417)
|
|
FAIR VALUE
MEASUREMENTS
USING SIGNIFICANT
UNOBSERVABLE
INPUTS (LEVEL 3)
|
Alger Small Cap Focus Fund
|
Common Stocks
|
Opening balance at November 1, 2023
|
$ 20,678,300
|
Transfers into Level 3
|
—
|
Transfers out of Level 3
|
—
|
Total gains or losses
|
|
Included in net realized gain (loss) on investments
|
—
|
Included in net change in unrealized appreciation (depreciation) on investments
|
3,264,995
|
Purchases and sales
|
|
Purchases
|
—
|
Sales/Distributions
|
—
|
Closing balance at January 31, 2024
|
23,943,295
|
Net change in unrealized appreciation (depreciation) attributable to investments
still held at January 31, 2024
|
$ 3,264,995
|
|
FAIR VALUE
MEASUREMENTS
USING SIGNIFICANT
UNOBSERVABLE
INPUTS (LEVEL 3)
|
Alger Small Cap Focus Fund
|
Rights
|
Opening balance at November 1, 2023
|
$ 8,095
|
Transfers into Level 3
|
—
|
Transfers out of Level 3
|
—
|
Total gains or losses
|
|
Included in net realized gain (loss) on investments
|
—
|
Included in net change in unrealized appreciation (depreciation) on investments
|
715
|
Purchases and sales
|
|
Purchases
|
—
|
Sales/Distributions
|
—
|
Closing balance at January 31, 2024
|
8,810
|
Net change in unrealized appreciation (depreciation) attributable to investments
still held at January 31, 2024
|
$ 715
|
|
FAIR VALUE
MEASUREMENTS
USING SIGNIFICANT
UNOBSERVABLE
INPUTS (LEVEL 3)
|
Alger Health Sciences Fund
|
Common Stocks
|
Opening balance at November 1, 2023
|
$ 6,616,482
|
Transfers into Level 3
|
—
|
Transfers out of Level 3
|
—
|
Total gains or losses
|
|
Included in net realized gain (loss) on investments
|
—
|
Included in net change in unrealized appreciation (depreciation) on investments
|
(1,218,769)
|
Purchases and sales
|
|
Purchases
|
—
|
Sales/Distributions
|
—
|
Closing balance at January 31, 2024
|
5,397,713
|
Net change in unrealized appreciation (depreciation) attributable to investments
still held at January 31, 2024
|
$ (1,218,769)
|
|
FAIR VALUE
MEASUREMENTS
USING SIGNIFICANT
UNOBSERVABLE
INPUTS (LEVEL 3)
|
Alger Health Sciences Fund
|
Preferred Stocks
|
Opening balance at November 1, 2023
|
$ —*
|
Transfers into Level 3
|
—
|
Transfers out of Level 3
|
—
|
Total gains or losses
|
|
Included in net realized gain (loss) on investments
|
—
|
Included in net change in unrealized appreciation (depreciation) on investments
|
—
|
Purchases and sales
|
|
Purchases
|
—
|
Sales/Distributions
|
—
|
Closing balance at January 31, 2024
|
—*
|
Net change in unrealized appreciation (depreciation) attributable to investments
still held at January 31, 2024
|
$ —
|
|
FAIR VALUE
MEASUREMENTS
USING SIGNIFICANT
UNOBSERVABLE
INPUTS (LEVEL 3)
|
Alger Health Sciences Fund
|
Rights
|
Opening balance at November 1, 2023
|
$ 1,330,757
|
Transfers into Level 3
|
—
|
Transfers out of Level 3
|
—
|
Total gains or losses
|
|
Included in net realized gain (loss) on investments
|
—
|
Included in net change in unrealized appreciation (depreciation) on investments
|
117,420
|
Purchases and sales
|
|
Purchases
|
—
|
Sales/Distributions
|
—
|
Closing balance at January 31, 2024
|
1,448,177
|
Net change in unrealized appreciation (depreciation) attributable to investments
still held at January 31, 2024
|
$117,420
|
*
|
Includes securities that are fair valued at zero.
|
|
Fair Value
January 31,
2024
|
Valuation
Methodology
|
Unobservable
Input
|
Input/Range
|
Weighted
Average Inputs
|
Alger Capital Appreciation Fund
|
|||||
Preferred Stocks
|
$1,023,157
|
Market
Approach
|
Revenue Multiple
|
10.50x-12.50x
|
N/A
|
Special Purpose
Vehicle
|
2,489,952
|
Market
Approach
|
Revenue Multiple
|
10.50x-12.50x
|
N/A
|
Alger 35 Fund
|
|||||
Common Stocks
|
544,298
|
Market
Approach
|
Revenue Multiple
Transaction Price
|
6.00x-7.00x
N/A
|
N/A
|
Alger Mid Cap Growth Fund
|
|||||
Preferred Stocks
|
—*
|
Income
Approach
|
Discount Rate
|
100%
|
N/A
|
Rights
|
436,644
|
Income
Approach
|
Discount Rate
Probability of Success
|
7.18%-8.11%
0.00%-55.00%
|
N/A
N/A
|
Special Purpose
Vehicle
|
1,502,944
|
Market
Approach
|
Revenue Multiple
|
10.50x-12.50x
|
N/A
|
|
Fair Value
January 31,
2024
|
Valuation
Methodology
|
Unobservable
Input
|
Input/Range
|
Weighted
Average Inputs
|
Alger Weatherbie Specialized Growth Fund
|
|||||
Common Stocks
|
$1,945,561
|
Market
Approach
|
Revenue Multiple
Transaction Price
|
6.00x-7.00x
N/A
|
N/A
|
Preferred Stocks
|
—*
|
Income
Approach
|
Discount Rate
|
100%
|
N/A
|
Alger Small Cap Growth Fund
|
|||||
Common Stocks
|
2,376,075
|
Market
Approach
|
Revenue Multiple
Transaction Price
|
6.00x-7.00x
N/A
|
N/A
|
Preferred Stocks
|
—*
|
Income
Approach
|
Discount Rate
|
100.00%
|
N/A
|
Rights
|
—**
|
Market
Approach
|
Transaction Price
|
N/A
|
N/A
|
Rights
|
129,339
|
Income
Approach
|
Discount Rate
Probability of Success
|
7.18%-8.11%
0.00%-55.00%
|
N/A
N/A
|
Special Purpose
Vehicle
|
2,041,312
|
Market
Approach
|
Revenue Multiple
|
10.50x-12.50x
|
N/A
|
Alger Small Cap Focus Fund
|
|||||
Common Stocks
|
23,943,295
|
Market
Approach
|
Revenue Multiple
Transaction Price
|
6.00x-7.00x
N/A
|
N/A
|
Rights
|
8,810
|
Income
Approach
|
Discount Rate
Probability of Success
|
7.18%-8.11%
0.00%-55.00%
|
N/A
|
Alger Health Sciences Fund
|
|||||
Common Stocks
|
5,339,713
|
Market
Approach
|
Revenue Multiple
Transaction Price
|
6.00x-7.00x
N/A
|
N/A
|
Preferred Stocks
|
—*
|
Income
Approach
|
Discount Rate
|
100.00%
|
N/A
|
Rights
|
1,448,177
|
Income
Approach
|
Discount Rate
Probability of Success
|
7.18%-8.11%
0.00%-55.00%
|
N/A
|
*
|
Prosetta Biosciences, Inc., Series D shares are classified as a Level 3 investment and are fair valued at zero as of
January 31, 2024.
|
**
|
Mirati Therapeutics, Inc. shares are classified as a Level 3 investment and are fair valued at zero as of January 31,
2024.
|
Security
|
Shares
Held at
October 31,
2023
|
Shares
Purchased
|
Shares
Sold
|
Shares
Held at
January 31,
2024
|
Dividend
Income
|
Realized
Gain (Loss)
|
Net Change
in
Unrealized
App(Dep)
|
Value at
January 31,
2024
|
Alger Capital Appreciation Fund
|
||||||||
Special Purpose Vehicle
|
||||||||
Crosslink
Ventures C,
LLC, Cl. A1
|
—
|
—
|
—
|
—
|
$—
|
$—
|
$(65,157
)
|
$2,489,952
|
Total
|
|
|
|
|
$—
|
$—
|
$(65,157
)
|
$2,489,952
|
Security
|
Shares
Held at
October 31,
2023
|
Shares
Purchased
|
Shares
Sold
|
Shares
Held at
January 31,
2024
|
Dividend
Income
|
Realized
Gain (Loss)
|
Net Change
in
Unrealized
App(Dep)
|
Value at
January 31,
2024
|
Alger Mid Cap Growth Fund
|
||||||||
Preferred Stocks
|
||||||||
Prosetta
Biosciences,
Inc., Series D2
|
219,610
|
—
|
—
|
219,610
|
$—
|
$—
|
$—
|
$—
3
|
Special Purpose Vehicle
|
||||||||
Crosslink
Ventures C,
LLC, Cl. A1
|
—
|
—
|
—
|
—
|
—
|
—
|
(28,176
)
|
1,076,736
|
Crosslink
Ventures C,
LLC, Cl. B1
|
—
|
—
|
—
|
—
|
—
|
—
|
(11,153
)
|
426,208
|
Total
|
|
|
|
|
$—
|
$—
|
$(39,329
)
|
$1,502,944
|
Security
|
Shares
Held at
October 31,
2023
|
Shares
Purchased
|
Shares
Sold
|
Shares
Held at
January 31,
2024
|
Dividend
Income
|
Realized
Gain (Loss)
|
Net Change
in
Unrealized
App(Dep)
|
Value at
January 31,
2024
|
Alger Weatherbie Specialized Growth Fund
|
||||||||
Preferred Stocks
|
||||||||
Prosetta
Biosciences,
Inc., Series D2
|
231,474
|
—
|
—
|
231,474
|
$—
|
$—
|
$—
|
$—
3
|
Total
|
|
|
|
|
$—
|
$—
|
$—
|
$—
|
Security
|
Shares
Held at
October 31,
2023
|
Shares
Purchased
|
Shares
Sold
|
Shares
Held at
January 31,
2024
|
Dividend
Income
|
Realized
Gain (Loss)
|
Net Change
in
Unrealized
App(Dep)
|
Value at
January 31,
2024
|
Alger Small Cap Growth Fund
|
||||||||
Preferred Stocks
|
||||||||
Prosetta
Biosciences,
Inc., Series D2
|
50,688
|
—
|
—
|
50,688
|
$—
|
$—
|
$—
|
$—
3
|
Special Purpose Vehicle
|
||||||||
Crosslink
Ventures C,
LLC, Cl. A1
|
—
|
—
|
—
|
—
|
—
|
—
|
(42,264
)
|
1,615,104
|
Crosslink
Ventures C,
LLC, Cl. B1
|
—
|
—
|
—
|
—
|
—
|
—
|
(11,153
)
|
426,208
|
Total
|
|
|
|
|
$—
|
$—
|
$(53,417
)
|
$2,041,312
|
Security
|
Shares
Held at
October 31,
2023
|
Shares
Purchased
|
Shares
Sold
|
Shares
Held at
January 31,
2024
|
Dividend
Income
|
Realized
Gain (Loss)
|
Net Change
in
Unrealized
App(Dep)
|
Value at
January 31,
2024
|
Alger Small Cap Focus Fund
|
||||||||
Common Stocks
|
||||||||
Cabaletta Bio, Inc.4
|
2,836,165
|
—
|
(707,700
)
|
2,130,465
|
$—
|
$4,435,124
|
$11,358,249
|
$43,631,923
|
PROS
Holdings,
Inc.
|
2,701,224
|
—
|
(202,250
)
|
2,498,974
|
—
|
(2,406,489
)
|
11,449,911
|
86,014,685
|
Total
|
|
|
|
|
$—
|
$2,028,635
|
$22,808,160
|
$129,646,608
|
|
Security
|
Shares
Held at
October 31,
2023
|
Shares
Purchased
|
Shares
Sold
|
Shares
Held at
January 31,
2024
|
Dividend
Income
|
Realized
Gain (Loss)
|
Net Change
in
Unrealized
App(Dep)
|
Value at
January 31,
2024
|
Alger Health Sciences Fund
|
||||||||
Preferred Stocks
|
||||||||
Prosetta
Biosciences,
Inc., Series D2
|
897,366
|
—
|
—
|
897,366
|
$—
|
$—
|
$—
|
$—
3
|
Total
|
|
|
|
|
$—
|
$—
|
$—
|
$—
|
1
|
The Alger Fund Complex and other entities managed by Alger Management fully own Crosslink Ventures C, LLC,
Class A and Crosslink Ventures C, LLC, Class B. There were no capital increases or decreases for the period ended
January 31, 2024.
|
2
|
Prosetta Biosciences, Inc., Series D is deemed to be an affiliate of the Funds because the Funds and Prosetta
Biosciences, Inc., Series D are under common control.
|
3
|
Prosetta Biosciences, Inc., Series D shares are classified as a Level 3 investment and are fair valued at zero as of
January 31, 2024
|
4
|
Non-affiliated at January 31, 2024.
|
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