FRED ALGER MANAGEMENT, LLC

NEW YORK, NY · CIK 3520 · 13F filing filed 2025-02-14

SEC-registered investment adviser since 1970 · limited liability company

Assets managed$26.1bn
Staff98 · 40 in investment roles
Main clients (by assets)Mutual funds and ETFs 79%, Pension plans 6%, Individuals 6%
Private funds2 (2 hedge) · $86.2m gross assets
Websitealger.com
Form ADV · 2026-09-17SEC adviser record

Legal entityFRED ALGER MANAGEMENT, LLC (US)
Part of ALGER ASSOCIATES, INC. (US)

$21.0bn reported value +1.7% vs Q3 2024

405positions

50.1%in top 10

59 new 117 added 217 reduced 87 sold out vs Q3 2024

Options: 0 call positions (— notional), 1 put positions ($771.8k notional) – listed below, not included above.

This report includes the holdings of 2 other managers that share the investment decisions:

ALPS ADVISORS INC – files its own report too; $8.8m of shares are in both
WEATHERBIE CAPITAL, LLC – reports through this filing

Also in the report of:

Keebeck Wealth Management – $8.9m of shares are in both reports
PERSONAL CFO SOLUTIONS, LLC – $2.7m of shares are in both reports

Shares in two reports are counted once in each security's totals.

Holdings, Q4 2024

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	NVIDIA CORPORATION COM NVDA	NVDA	14,874,449	$2.0bn9.52%	9.52%	Reduced -28.1k	-28,117 -0.2%
2	MICROSOFT CORP COM MSFT	MSFT	4,668,765	$2.0bn9.38%	9.38%	Reduced -119.2k	-119,193 -2.5%
3	AMAZON COM INC COM AMZN	AMZN	6,514,466	$1.4bn6.81%	6.81%	Added +132.1k	+132,072 2.1%
4	APPLE INC COM AAPL	AAPL	4,487,750	$1.1bn5.36%	5.36%	Reduced -335.1k	-335,053 -7.0%
5	META PLATFORMS INC CL A META	META	1,864,884	$1.1bn5.20%	5.20%	Reduced -36.2k	-36,189 -1.9%
6	APPLOVIN CORP COM CL A APP	APP	2,530,729	$819.5m3.91%	3.91%	Reduced -1.0m	-1,008,738 -28.5%
7	BROADCOM INC COM AVGO	AVGO	2,855,741	$662.1m3.15%	3.15%	Reduced -204.0k	-204,029 -6.7%
8	NATERA INC COM NTRA	NTRA	3,017,816	$477.7m2.28%	2.28%	Reduced -994.2k	-994,184 -24.8%
9	TESLA INC COM TSLA	TSLA	1,179,293	$476.2m2.27%	2.27%	Added +454.0k	+454,011 62.6%
10	GFL ENVIRONMENTAL INC SUB VTG SHS GFL	GFL	10,411,148	$463.7m2.21%	2.21%	Added +190.0k	+190,018 1.9%
11	NETFLIX INC COM NFLX	NFLX	457,636	$407.9m1.94%	1.94%	Added +94.7k	+94,688 26.1%
12	ALPHABET INC CAP STK CL C GOOG	GOOG	1,970,215	$375.2m1.79%	1.79%	Reduced -278.8k	-278,771 -12.4%
13	VERTIV HOLDINGS CO COM CL A VRT	VRT	2,923,515	$332.1m1.58%	1.58%	Reduced -396.9k	-396,910 -11.9%
14	VISA INC COM CL A V	V	1,047,921	$331.2m1.58%	1.58%	Added +64.6k	+64,606 6.6%
15	GLOBAL E ONLINE LTD SHS GLBE	GLBE	4,239,470	$231.2m1.10%	1.10%	Added +2.8m	+2,847,868 204.7%
16	S&P GLOBAL INC COM SPGI	SPGI	403,257	$200.8m0.96%	0.96%	Reduced -47.5k	-47,526 -10.5%
17	TALEN ENERGY CORP COM TLN	TLN	954,747	$192.4m0.92%	0.92%	Added +577.3k	+577,257 152.9%
18	SPOTIFY TECHNOLOGY S A SHS SPOT	SPOT	424,525	$189.9m0.91%	0.91%	Reduced -18.0k	-18,032 -4.1%
19	INTUITIVE SURGICAL INC COM NEW ISRG	ISRG	350,450	$182.9m0.87%	0.87%	Reduced -18.8k	-18,791 -5.1%
20	ASTERA LABS INC COM ALAB	ALAB	1,380,395	$182.8m0.87%	0.87%	Reduced -1.4m	-1,441,526 -51.1%
21	HEICO CORP NEW CL A HEI.A	HEI.A	933,918	$173.8m0.83%	0.83%	Reduced -73.3k	-73,309 -7.3%
22	MERCADOLIBRE INC COM MELI	MELI	92,289	$156.9m0.75%	0.75%	Added +2.3k	+2,278 2.5%
23	UNITED AIRLS HLDGS INC COM UAL	UAL	1,605,145	$155.9m0.74%	0.74%	New
24	NEBIUS GROUP N.V. SHS CLASS A NBIS	NBIS	5,588,985	$154.8m0.74%	0.74%	New
25	LIBERTY MEDIA CORP DEL COM LBTY ONE S C FWONK	FWONK	1,523,998	$141.2m0.67%	0.67%	Reduced -145.6k	-145,621 -8.7%
26	TRANSDIGM GROUP INC COM TDG	TDG	108,791	$137.9m0.66%	0.66%	Reduced -48.7k	-48,702 -30.9%
27	ELI LILLY & CO COM LLY	LLY	172,251	$133.0m0.63%	0.63%	Reduced -88.5k	-88,546 -34.0%
28	CADENCE DESIGN SYSTEM INC COM CDNS	CDNS	427,427	$128.4m0.61%	0.61%	Added +109.2k	+109,198 34.3%
29	BOSTON SCIENTIFIC CORP COM BSX	BSX	1,373,021	$122.6m0.58%	0.58%	Reduced -416.0k	-415,971 -23.2%
30	UPSTART HLDGS INC COM UPST	UPST	1,915,121	$117.9m0.56%	0.56%	Added +668.3k	+668,282 53.6%
31	GLAUKOS CORP COM GKOS	GKOS	764,958	$114.7m0.55%	0.55%	Reduced -312.0k	-312,016 -29.0%
32	SEA LTD SPONSORD ADS SE	SE	1,056,878	$112.1m0.53%	0.53%	Added +529.2k	+529,237 100.3%
33	FIRSTSERVICE CORP NEW COM FSV	FSV	615,357	$111.5m0.53%	0.53%	Reduced -134.5k	-134,531 -17.9%
34	VERTEX INC CL A VERX	VERX	2,060,284	$109.9m0.52%	0.52%	Reduced -483.6k	-483,554 -19.0%
35	CLOUDFLARE INC CL A COM NET	NET	934,286	$100.6m0.48%	0.48%	Added +836.6k	+836,591 856.3%
36	SERVICENOW INC COM NOW	NOW	93,739	$99.4m0.47%	0.47%	Added +10.2k	+10,219 12.2%
37	STEPSTONE GROUP INC COM CL A STEP	STEP	1,619,361	$93.7m0.45%	0.45%	Reduced -405.9k	-405,862 -20.0%
38	SEMTECH CORP COM SMTC	SMTC	1,491,844	$92.3m0.44%	0.44%	Added +821.7k	+821,671 122.6%
39	AGILYSYS INC COM AGYS	AGYS	700,019	$92.2m0.44%	0.44%	Reduced -101.3k	-101,285 -12.6%
40	HAMILTON LANE INC CL A HLNE	HLNE	611,525	$90.8m0.43%	0.43%	Reduced -7.4k	-7,432 -1.2%
41	SPS COMM INC COM SPSC	SPSC	481,317	$88.6m0.42%	0.42%	Added +25.4k	+25,414 5.6%
42	CASELLA WASTE SYS INC CL A CWST	CWST	813,403	$86.1m0.41%	0.41%	Reduced -255.1k	-255,149 -23.9%
43	CONSTELLATION ENERGY CORP COM CEG	CEG	364,231	$81.5m0.39%	0.39%	Reduced -222.4k	-222,353 -37.9%
44	EATON CORP PLC SHS ETN	ETN	223,936	$74.3m0.35%	0.35%	Reduced -24.3k	-24,339 -9.8%
45	NRG ENERGY INC COM NEW NRG	NRG	808,454	$72.9m0.35%	0.35%	Reduced -46.0k	-46,009 -5.4%
46	XOMETRY INC CLASS A COM XMTR	XMTR	1,673,621	$71.4m0.34%	0.34%	Reduced -142.1k	-142,075 -7.8%
47	ADOBE INC COM ADBE	ADBE	159,879	$71.1m0.34%	0.34%	Reduced -110.8k	-110,796 -40.9%
48	Q2 HLDGS INC COM QTWO	QTWO	706,126	$71.1m0.34%	0.34%	Reduced -122.0k	-122,012 -14.7%
49	TANDEM DIABETES CARE INC COM NEW TNDM	TNDM	1,943,356	$70.0m0.33%	0.33%	Reduced -35.8k	-35,763 -1.8%
50	QUANTA SVCS INC COM PWR	PWR	218,695	$69.1m0.33%	0.33%	Reduced -39.1k	-39,111 -15.2%
51	HEICO CORP NEW COM HEI	HEI	286,180	$68.0m0.32%	0.32%	Reduced -77.9k	-77,870 -21.4%
52	CLEARWATER ANALYTICS HLDGS I CL A CL A		2,469,228	$68.0m0.32%	0.32%	Added +357.1k	+357,086 16.9%
53	WINGSTOP INC COM WING	WING	234,546	$66.7m0.32%	0.32%	Reduced -22.3k	-22,262 -8.7%
54	DRAFTKINGS INC NEW COM CL A DKNG	DKNG	1,783,698	$66.4m0.32%	0.32%	Reduced -2.9m	-2,860,154 -61.6%
55	VISTRA CORP COM VST	VST	480,574	$66.3m0.32%	0.32%	New
56	PINTEREST INC CL A PINS	PINS	2,284,600	$66.3m0.32%	0.32%	Reduced -3.0m	-2,988,379 -56.7%
57	RBC BEARINGS INC COM RBC	RBC	218,937	$65.5m0.31%	0.31%	Reduced -45.9k	-45,854 -17.3%
58	EQUINIX INC COM EQIX	EQIX	66,850	$63.0m0.30%	0.30%	Reduced -118.1k	-118,076 -63.9%
59	CORE SCIENTIFIC INC NEW COM CORZ	CORZ	4,413,567	$62.0m0.30%	0.30%	New
60	AUTODESK INC COM ADSK	ADSK	204,295	$60.4m0.29%	0.29%	Added +201.7k	+201,683 7721.4%
61	OLLIES BARGAIN OUTLET HLDGS COM OLLI	OLLI	539,556	$59.2m0.28%	0.28%	Reduced -232.6k	-232,589 -30.1%
62	GUIDEWIRE SOFTWARE INC COM GWRE	GWRE	343,282	$57.9m0.28%	0.28%	Reduced -147.5k	-147,476 -30.1%
63	ADVANCED MICRO DEVICES INC COM AMD	AMD	443,911	$53.6m0.26%	0.26%	Reduced -220.6k	-220,612 -33.2%
64	BIONTECH SE SPONSORED ADS BNTX	BNTX	465,377	$53.0m0.25%	0.25%	Reduced -35.5k	-35,467 -7.1%
65	ROBINHOOD MKTS INC COM CL A HOOD	HOOD	1,394,315	$52.0m0.25%	0.25%	New
66	REPLIGEN CORP COM RGEN	RGEN	359,507	$51.7m0.25%	0.25%	Reduced -39.0k	-39,047 -9.8%
67	DELTA AIR LINES INC DEL COM NEW DAL	DAL	854,478	$51.7m0.25%	0.25%	New
68	NEOGEN CORP COM NEOG	NEOG	4,219,834	$51.2m0.24%	0.24%	Added +233.1k	+233,090 5.8%
69	GATES INDL CORP PLC ORD SHS 9666678D	9666678D	2,450,560	$50.4m0.24%	0.24%	Reduced -376.5k	-376,522 -13.3%
70	ACADIA PHARMACEUTICALS INC COM ACAD	ACAD	2,714,929	$49.8m0.24%	0.24%	Reduced -471.5k	-471,460 -14.8%
71	PROS HOLDINGS INC COM PRO	PRO	2,207,784	$48.5m0.23%	0.23%	Reduced -314.7k	-314,718 -12.5%
72	MARTIN MARIETTA MATLS INC COM MLM	MLM	89,281	$46.1m0.22%	0.22%	Reduced -55.5k	-55,458 -38.3%
73	SITEONE LANDSCAPE SUPPLY INC COM SITE	SITE	341,456	$45.0m0.21%	0.21%	Reduced -50.9k	-50,851 -13.0%
74	BLOCK INC CL A XYZ	XYZ	522,186	$44.4m0.21%	0.21%	Added +147.2k	+147,192 39.2%
75	BLACKSTONE INC COM BX	BX	255,884	$44.1m0.21%	0.21%	Added +46.5k	+46,550 22.2%
76	PLANET FITNESS INC CL A PLNT	PLNT	438,176	$43.3m0.21%	0.21%	Added +69.8k	+69,786 18.9%
77	VAXCYTE INC COM PCVX	PCVX	523,007	$42.8m0.20%	0.20%	Reduced -720.7k	-720,710 -58.0%
78	FTAI AVIATION LTD SHS FTAI	FTAI	295,604	$42.6m0.20%	0.20%	Added +42.0k	+42,019 16.6%
79	GENEDX HOLDINGS CORP COM CL A WGS	WGS	546,054	$42.0m0.20%	0.20%	Added +151.8k	+151,824 38.5%
80	NCINO INC COM NCNO	NCNO	1,236,940	$41.5m0.20%	0.20%	Reduced -266.6k	-266,609 -17.7%
81	BIOLIFE SOLUTIONS INC COM NEW BLFS	BLFS	1,594,221	$41.4m0.20%	0.20%	Added +16.3k	+16,274 1.0%
82	RXO INC COMMON STOCK RXO	RXO	1,733,331	$41.3m0.20%	0.20%	Reduced -17.8k	-17,783 -1.0%
83	BIO-TECHNE CORP COM TECH	TECH	572,152	$41.2m0.20%	0.20%	Reduced -79.2k	-79,247 -12.2%
84	LOAR HOLDINGS INC COM SHS LOAR	LOAR	555,366	$41.0m0.20%	0.20%	Added +345.0k	+345,036 164.1%
85	WABTEC COM WAB	WAB	206,092	$39.1m0.19%	0.19%	Reduced -21.4k	-21,361 -9.4%
86	BUILDERS FIRSTSOURCE INC COM BLDR	BLDR	257,400	$36.8m0.18%	0.18%	Reduced -8.3k	-8,340 -3.1%
87	PALANTIR TECHNOLOGIES INC CL A PLTR	PLTR	482,700	$36.5m0.17%	0.17%	Added +178.0k	+178,038 58.4%
88	MOONLAKE IMMUNOTHERAPEUTICS CLASS A ORD MLTX	MLTX	673,773	$36.5m0.17%	0.17%	Added +7.2k	+7,199 1.1%
89	BURLINGTON STORES INC COM BURL	BURL	124,488	$35.5m0.17%	0.17%	Reduced -126.4k	-126,403 -50.4%
90	MODINE MFG CO COM MOD	MOD	305,667	$35.4m0.17%	0.17%	Reduced -43.9k	-43,895 -12.6%
91	TWIST BIOSCIENCE CORP COM TWST	TWST	761,224	$35.4m0.17%	0.17%	Reduced -5.9k	-5,925 -0.8%
92	KURA SUSHI USA INC CL A COM KRUS	KRUS	383,181	$34.7m0.17%	0.17%	Reduced -122.4k	-122,419 -24.2%
93	CAREDX INC COM CDNA	CDNA	1,613,992	$34.6m0.16%	0.16%	Added +110.5k	+110,471 7.3%
94	FEDERAL SIGNAL CORP COM FSS	FSS	371,739	$34.3m0.16%	0.16%	Added +33.6k	+33,556 9.9%
95	ON HLDG AG NAMEN AKT A ONON	ONON	616,905	$33.8m0.16%	0.16%	Reduced -105.8k	-105,760 -14.6%
96	CROWDSTRIKE HLDGS INC CL A CRWD	CRWD	95,672	$32.7m0.16%	0.16%	Added +18.0k	+18,027 23.2%
97	SAREPTA THERAPEUTICS INC COM SRPT	SRPT	269,112	$32.7m0.16%	0.16%	Reduced -17.8k	-17,767 -6.2%
98	GOLDMAN SACHS GROUP INC COM GS	GS	57,043	$32.7m0.16%	0.16%	New
99	ALPHABET INC CAP STK CL A GOOGL	GOOGL	161,231	$30.5m0.15%	0.15%	Reduced -772	-772 -0.5%
100	INTAPP INC COM INTA	INTA	475,936	$30.5m0.15%	0.15%	Reduced -50.3k	-50,337 -9.6%

Sold out since Q3 2024

Security	Ticker	Shares held before	Value then
TAIWAN SEMICONDUCTOR MFG LTD TSM	TSM	2,065,689	$358.7m2.1m shares
MICRON TECHNOLOGY INC MU	MU	626,786	$65.0m626.8k shares
ALTAIR ENGR INC ALTR	ALTR	381,760	$36.5m381.8k shares
MADRIGAL PHARMACEUTICALS INC MDGL	MDGL	93,446	$19.8m93.4k shares
FERRARI N V RACE	RACE	38,490	$18.1m38.5k shares
CAMTEK LTD CAMT	CAMT	217,474	$17.4m217.5k shares
WASTE CONNECTIONS INC WCN	WCN	74,259	$13.3m74.3k shares
ABERCROMBIE & FITCH CO ANF	ANF	84,720	$11.9m84.7k shares
ARISTA NETWORKS INC		119,996	$11.5m120.0k shares
FLUTTER ENTMT PLC FLUT	FLUT	46,696	$11.1m46.7k shares
BLACKROCK INC BLK	BLK	11,283	$10.7m11.3k shares
LAS VEGAS SANDS CORP LVS	LVS	202,997	$10.2m203.0k shares
REGENERON PHARMACEUTICALS REGN	REGN	8,821	$9.3m8.8k shares
ASML HOLDING N V ASML	ASML	9,071	$7.6m9.1k shares
LAM RESEARCH CORP		78,950	$6.4m79.0k shares
METTLER TOLEDO INTERNATIONAL MTD	MTD	3,759	$5.6m3.8k shares
FIVE BELOW INC FIVE	FIVE	58,673	$5.2m58.7k shares
STARBUCKS CORP SBUX	SBUX	44,390	$4.3m44.4k shares
CAPRI HOLDINGS LIMITED CPRI	CPRI	99,494	$4.2m99.5k shares
FISERV INC FISV	FISV	23,307	$4.2m23.3k shares
JD.COM INC JD	JD	87,439	$3.5m87.4k shares
ELEVANCE HEALTH INC ELV	ELV	5,730	$3.0m5.7k shares
908 DEVICES INC MASS	MASS	820,448	$2.8m820.4k shares
BRUKER CORP BRKR	BRKR	37,933	$2.6m37.9k shares
GENERAL DYNAMICS CORP GD	GD	8,351	$2.5m8.4k shares

Options (notional value)

Underlying	Ticker	Type	Shares controlled	Notional	Change
INVESCO QQQ TR QQQ · Put	QQQ	Put	340	$771.8k340 shares	Added