FRED ALGER MANAGEMENT, LLC

NEW YORK, NY · CIK 3520 · 13F filing filed 2025-08-14

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)

$22.3bn reported value +27.2% vs Q1 2025

430positions

50.2%in top 10

69 new 146 added 192 reduced 55 sold out vs Q1 2025

Options: 0 call positions (— notional), 1 put positions ($350.4k notional) – listed below, not included above.

This report includes the holdings of 3 other managers that share the investment decisions:

ALPS ADVISORS INC – files its own report too; $5.9m of shares are in both
Redwood Investments, LLC – reports through this filing
WEATHERBIE CAPITAL, LLC – reports through this filing

Also in the report of:

Keebeck Wealth Management – $15.1m of shares are in both reports
PERSONAL CFO SOLUTIONS, LLC – $3.0m of shares are in both reports

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

Holdings, Q2 2025

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	14,937,552	$2.4bn10.56%	10.56%	Added +567.5k	+567,519 4.0%
2	MICROSOFT CORP COM MSFT	MSFT	4,580,630	$2.3bn10.20%	10.20%	Added +50.2k	+50,221 1.1%
3	AMAZON COM INC COM AMZN	AMZN	6,884,585	$1.5bn6.76%	6.76%	Added +529.9k	+529,917 8.3%
4	META PLATFORMS INC CL A META	META	1,833,514	$1.4bn6.06%	6.06%	Reduced -25.6k	-25,580 -1.4%
5	APPLOVIN CORP COM CL A APP	APP	2,327,644	$814.9m3.65%	3.65%	Reduced -506.1k	-506,148 -17.9%
6	APPLE INC COM AAPL	AAPL	3,742,666	$767.9m3.44%	3.44%	Reduced -251.0k	-250,992 -6.3%
7	BROADCOM INC COM AVGO	AVGO	2,130,303	$587.2m2.63%	2.63%	Reduced -327.4k	-327,439 -13.3%
8	TALEN ENERGY CORP COM TLN	TLN	1,903,530	$553.5m2.48%	2.48%	Added +411.4k	+411,385 27.6%
9	NETFLIX INC COM NFLX	NFLX	372,320	$498.6m2.23%	2.23%	Reduced -112.1k	-112,089 -23.1%
10	TESLA INC COM TSLA	TSLA	1,554,906	$493.9m2.21%	2.21%	Added +359.4k	+359,361 30.1%
11	ALPHABET INC CAP STK CL C GOOG	GOOG	2,609,086	$462.8m2.07%	2.07%	Added +826.3k	+826,301 46.4%
12	NEBIUS GROUP N.V. SHS CLASS A NBIS	NBIS	7,595,447	$420.3m1.88%	1.88%	Added +4.4m	+4,401,197 137.8%
13	VERTIV HOLDINGS CO COM CL A VRT	VRT	3,249,258	$417.2m1.87%	1.87%	Reduced -246.8k	-246,802 -7.1%
14	VISTRA CORP COM VST	VST	2,148,122	$416.3m1.86%	1.86%	Added +1.2m	+1,174,783 120.7%
15	GFL ENVIRONMENTAL INC SUB VTG SHS GFL	GFL	8,122,258	$409.8m1.83%	1.83%	Reduced -1.3m	-1,333,589 -14.1%
16	NATERA INC COM NTRA	NTRA	2,410,476	$407.2m1.82%	1.82%	Reduced -193.7k	-193,684 -7.4%
17	SEA LTD SPONSORD ADS SE	SE	2,364,659	$378.2m1.69%	1.69%	Reduced -220.5k	-220,520 -8.5%
18	ROBINHOOD MKTS INC COM CL A HOOD	HOOD	3,422,248	$320.4m1.43%	1.43%	Reduced -258.7k	-258,712 -7.0%
19	SPOTIFY TECHNOLOGY S A SHS SPOT	SPOT	384,210	$294.8m1.32%	1.32%	Added +25.9k	+25,926 7.2%
20	VISA INC COM CL A V	V	764,119	$271.3m1.21%	1.21%	Reduced -171.6k	-171,631 -18.3%
21	HEICO CORP NEW CL A HEI.A	HEI.A	989,909	$256.1m1.15%	1.15%	Added +44.0k	+43,955 4.7%
22	MERCADOLIBRE INC COM MELI	MELI	82,978	$216.9m0.97%	0.97%	Reduced -3.4k	-3,388 -3.9%
23	CONSTELLATION ENERGY CORP COM CEG	CEG	648,724	$209.4m0.94%	0.94%	Added +414.2k	+414,225 176.6%
24	ROBLOX CORP CL A RBLX	RBLX	1,881,065	$197.9m0.89%	0.89%	Added +1.4m	+1,418,198 306.4%
25	INTUITIVE SURGICAL INC COM NEW ISRG	ISRG	323,110	$175.6m0.79%	0.79%	Reduced -9.8k	-9,773 -2.9%
26	CLOUDFLARE INC CL A COM NET	NET	865,797	$169.5m0.76%	0.76%	Added +99.9k	+99,940 13.1%
27	SNOWFLAKE INC CL A SNOW	SNOW	729,931	$163.3m0.73%	0.73%	Added +488.9k	+488,893 202.8%
28	ASTERA LABS INC COM ALAB	ALAB	1,784,336	$161.3m0.72%	0.72%	Added +224.3k	+224,303 14.4%
29	LIBERTY MEDIA CORP DEL COM LBTY ONE S C FWONK	FWONK	1,398,251	$146.1m0.65%	0.65%	Added +38.8k	+38,808 2.9%
30	CARDINAL HEALTH INC COM CAH	CAH	802,232	$134.8m0.60%	0.60%	Added +535.0k	+535,001 200.2%
31	S&P GLOBAL INC COM SPGI	SPGI	243,148	$128.2m0.57%	0.57%	Reduced -78.4k	-78,380 -24.4%
32	ELI LILLY & CO COM LLY	LLY	157,609	$122.9m0.55%	0.55%	Reduced -45.4k	-45,420 -22.4%
33	BOSTON SCIENTIFIC CORP COM BSX	BSX	987,969	$106.1m0.47%	0.47%	Added +12.4k	+12,366 1.3%
34	WINGSTOP INC COM WING	WING	314,194	$105.8m0.47%	0.47%	Added +158.1k	+158,060 101.2%
35	MARTIN MARIETTA MATLS INC COM MLM	MLM	183,356	$100.7m0.45%	0.45%	Added +72.8k	+72,834 65.9%
36	PINTEREST INC CL A PINS	PINS	2,697,081	$96.7m0.43%	0.43%	Added +499.7k	+499,746 22.7%
37	FIRSTSERVICE CORP NEW COM FSV	FSV	482,711	$84.4m0.38%	0.38%	Reduced -91.8k	-91,789 -16.0%
38	UPSTART HLDGS INC COM UPST	UPST	1,219,700	$78.9m0.35%	0.35%	Reduced -544.4k	-544,436 -30.9%
39	CASELLA WASTE SYS INC CL A CWST	CWST	676,028	$78.0m0.35%	0.35%	Reduced -117.6k	-117,557 -14.8%
40	HEICO CORP NEW COM HEI	HEI	234,877	$77.0m0.34%	0.34%	Reduced -12.3k	-12,259 -5.0%
41	GENEDX HOLDINGS CORP COM CL A WGS	WGS	820,523	$75.7m0.34%	0.34%	Added +263.5k	+263,505 47.3%
42	OLLIES BARGAIN OUTLET HLDGS COM OLLI	OLLI	533,251	$69.8m0.31%	0.31%	Added +13.1k	+13,085 2.5%
43	RBC BEARINGS INC COM RBC	RBC	177,735	$68.4m0.31%	0.31%	Reduced -28.6k	-28,606 -13.9%
44	SHOPIFY INC CL A SUB VTG SHS SHOP	SHOP	591,021	$68.2m0.31%	0.31%	New
45	COHERENT CORP COM COHR	COHR	748,363	$66.8m0.30%	0.30%	Added +140.9k	+140,871 23.2%
46	SPS COMM INC COM SPSC	SPSC	487,176	$66.1m0.30%	0.30%	Added +91.3k	+91,286 23.1%
47	DRAFTKINGS INC NEW COM CL A DKNG	DKNG	1,409,075	$60.4m0.27%	0.27%	Added +257.3k	+257,288 22.3%
48	VERTEX INC CL A VERX	VERX	1,690,053	$59.6m0.27%	0.27%	Added +17.4k	+17,430 1.0%
49	FAIR ISAAC CORP COM FICO	FICO	31,607	$57.8m0.26%	0.26%	Added +15.0k	+15,047 90.9%
50	BURLINGTON STORES INC COM BURL	BURL	234,673	$54.6m0.24%	0.24%	Added +63.1k	+63,088 36.8%
51	GUIDEWIRE SOFTWARE INC COM GWRE	GWRE	222,656	$52.4m0.23%	0.23%	Reduced -91.4k	-91,415 -29.1%
52	PLANET FITNESS INC CL A PLNT	PLNT	477,382	$52.1m0.23%	0.23%	Reduced -68.8k	-68,818 -12.6%
53	TKO GROUP HOLDINGS INC CL A TKO	TKO	284,995	$51.9m0.23%	0.23%	Reduced -20.3k	-20,265 -6.6%
54	ACADIA PHARMACEUTICALS INC COM ACAD	ACAD	2,387,456	$51.5m0.23%	0.23%	Reduced -382.4k	-382,372 -13.8%
55	CADENCE DESIGN SYSTEM INC COM CDNS	CDNS	166,812	$51.4m0.23%	0.23%	Reduced -261.6k	-261,608 -61.1%
56	IRHYTHM TECHNOLOGIES INC COM IRTC	IRTC	325,543	$50.1m0.22%	0.22%	Added +75.8k	+75,829 30.4%
57	SITEONE LANDSCAPE SUPPLY INC COM SITE	SITE	410,549	$49.7m0.22%	0.22%	Added +11.0k	+10,964 2.7%
58	STEPSTONE GROUP INC COM CL A STEP	STEP	858,823	$47.7m0.21%	0.21%	Reduced -697.1k	-697,113 -44.8%
59	EATON CORP PLC SHS ETN	ETN	129,830	$46.3m0.21%	0.21%	Added +80.2k	+80,233 161.8%
60	AGILYSYS INC COM AGYS	AGYS	402,505	$46.0m0.21%	0.21%	Reduced -263.3k	-263,287 -39.5%
61	AAR CORP COM AIR	AIR	665,151	$45.8m0.20%	0.20%	Added +131.4k	+131,381 24.6%
62	ORACLE CORP COM ORCL	ORCL	203,623	$44.5m0.20%	0.20%	Added +184.3k	+184,323 955.0%
63	LOAR HOLDINGS INC COM SHS LOAR	LOAR	515,757	$44.4m0.20%	0.20%	Added +20.7k	+20,742 4.2%
64	CARVANA CO CL A CVNA	CVNA	131,849	$44.4m0.20%	0.20%	Added +98.8k	+98,766 298.5%
65	TUTOR PERINI CORP COM TPC	TPC	948,467	$44.4m0.20%	0.20%	Reduced -169.4k	-169,448 -15.2%
66	GLAUKOS CORP COM GKOS	GKOS	425,974	$44.0m0.20%	0.20%	Reduced -179.7k	-179,716 -29.7%
67	ARTIVION INC COM AORT	AORT	1,350,959	$42.0m0.19%	0.19%	Added +1.2m	+1,230,155 1018.3%
68	SERVICENOW INC COM NOW	NOW	40,332	$41.5m0.19%	0.19%	Added +16.5k	+16,508 69.3%
69	VSE CORP COM VSEC	VSEC	312,711	$41.0m0.18%	0.18%	Reduced -48.9k	-48,937 -13.5%
70	Q2 HLDGS INC COM QTWO	QTWO	430,211	$40.3m0.18%	0.18%	Reduced -104.5k	-104,512 -19.6%
71	FTAI AVIATION LTD SHS FTAI	FTAI	352,231	$40.2m0.18%	0.18%	Reduced -194.5k	-194,534 -35.6%
72	MARVELL TECHNOLOGY INC COM MRVL	MRVL	510,753	$39.5m0.18%	0.18%	Added +257.0k	+256,985 101.3%
73	JPMORGAN CHASE & CO COM JPM	JPM	135,376	$39.2m0.18%	0.18%	Added +502	+502 0.4%
74	WALMART INC COM WMT	WMT	399,716	$39.1m0.17%	0.17%	Added +99.0k	+99,036 32.9%
75	PROGYNY INC COM PGNY	PGNY	1,756,056	$38.6m0.17%	0.17%	Added +490.0k	+489,952 38.7%
76	PALANTIR TECHNOLOGIES INC CL A PLTR	PLTR	275,832	$37.6m0.17%	0.17%	Reduced -231.0k	-230,987 -45.6%
77	CLEARWATER ANALYTICS HLDGS I CL A CL A		1,715,883	$37.4m0.17%	0.17%	Added +38.2k	+38,247 2.3%
78	REPLIGEN CORP COM RGEN	RGEN	299,556	$37.3m0.17%	0.17%	Reduced -137.5k	-137,481 -31.5%
79	ABBOTT LABS COM ABT	ABT	268,707	$36.5m0.16%	0.16%	Added +129.3k	+129,276 92.7%
80	TRANSDIGM GROUP INC COM TDG	TDG	23,712	$36.1m0.16%	0.16%	Reduced -26.1k	-26,125 -52.4%
81	ITRON INC COM ITRI	ITRI	273,508	$36.0m0.16%	0.16%	Added +227.8k	+227,770 498.0%
82	GATES INDL CORP PLC ORD SHS 9666678D	9666678D	1,491,780	$34.4m0.15%	0.15%	Reduced -935.4k	-935,357 -38.5%
83	UNITED AIRLS HLDGS INC COM UAL	UAL	425,509	$33.9m0.15%	0.15%	Reduced -183.8k	-183,839 -30.2%
84	NCINO INC COM NCNO	NCNO	1,189,616	$33.3m0.15%	0.15%	Added +91.7k	+91,657 8.3%
85	DOORDASH INC CL A DASH	DASH	134,618	$33.2m0.15%	0.15%	Added +99.3k	+99,253 280.6%
86	UNITED RENTALS INC COM URI	URI	43,550	$32.8m0.15%	0.15%	Added +23.7k	+23,698 119.4%
87	IMPINJ INC COM PI	PI	290,913	$32.3m0.14%	0.14%	Added +122.5k	+122,456 72.7%
88	FIRST ADVANTAGE CORP NEW COM FA	FA	1,894,455	$31.5m0.14%	0.14%	Added +605.3k	+605,282 47.0%
89	KURA SUSHI USA INC CL A COM KRUS	KRUS	362,425	$31.2m0.14%	0.14%	Added +10.5k	+10,477 3.0%
90	ALPHABET INC CAP STK CL A GOOGL	GOOGL	170,774	$30.1m0.13%	0.13%	Added +7.1k	+7,054 4.3%
91	KLA CORP COM NEW KLAC	KLAC	33,565	$30.1m0.13%	0.13%	Reduced -43	-43 -0.1%
92	XOMETRY INC CLASS A COM XMTR	XMTR	858,604	$29.0m0.13%	0.13%	Reduced -239.4k	-239,431 -21.8%
93	TRANSCAT INC COM TRNS	TRNS	334,567	$28.8m0.13%	0.13%	Added +118.3k	+118,349 54.7%
94	ADAPTIVE BIOTECHNOLOGIES COR COM ADPT	ADPT	2,355,427	$27.4m0.12%	0.12%	New
95	BIOLIFE SOLUTIONS INC COM NEW BLFS	BLFS	1,248,028	$26.9m0.12%	0.12%	Reduced -285.1k	-285,094 -18.6%
96	EQUINIX INC COM EQIX	EQIX	33,291	$26.5m0.12%	0.12%	Reduced -1.3k	-1,291 -3.7%
97	FEDERAL SIGNAL CORP COM FSS	FSS	242,564	$25.8m0.12%	0.12%	Reduced -120.4k	-120,432 -33.2%
98	GE VERNOVA INC COM GEV	GEV	48,568	$25.7m0.12%	0.12%	Added +22.8k	+22,841 88.8%
99	MONTROSE ENVIRONMENTAL GROUP COM ONT	ONT	1,151,191	$25.2m0.11%	0.11%	Added +160.3k	+160,262 16.2%
100	STEVANATO GROUP S P A ORD SHS STVN	STVN	1,021,484	$25.0m0.11%	0.11%	Reduced -24.3k	-24,279 -2.3%

Sold out since Q1 2025

Security	Ticker	Shares held before	Value then
MERIT MED SYS INC MMSI	MMSI	154,707	$16.4m154.7k shares
PPL CORP PPL	PPL	391,828	$14.2m391.8k shares
TREX CO INC TREX	TREX	215,079	$12.5m215.1k shares
ARISTA NETWORKS INC ANET	ANET	146,377	$11.3m146.4k shares
WORKIVA INC WK	WK	111,870	$8.5m111.9k shares
SPROUT SOCIAL INC SPT	SPT	256,633	$5.6m256.6k shares
FLYWIRE CORPORATION FLYW	FLYW	488,409	$4.6m488.4k shares
TRANSUNION TRU	TRU	49,707	$4.1m49.7k shares
TRADEWEB MKTS INC TW	TW	27,602	$4.1m27.6k shares
LATTICE SEMICONDUCTOR CORP LSCC	LSCC	64,126	$3.4m64.1k shares
RH RH	RH	13,931	$3.3m13.9k shares
PAYCOR HCM INC		122,504	$2.7m122.5k shares
AUTOZONE INC AZO	AZO	713	$2.7m713 shares
AZEK CO INC AZEK	AZEK	54,315	$2.7m54.3k shares
BLOCK INC XYZ	XYZ	43,144	$2.3m43.1k shares
BLUEPRINT MEDICINES CORP BPMC	BPMC	25,681	$2.3m25.7k shares
CVS HEALTH CORP CVS	CVS	31,482	$2.1m31.5k shares
MARQETA INC		503,533	$2.1m503.5k shares
GSK PLC GSK	GSK	51,693	$2.0m51.7k shares
MERUS N V MRUS	MRUS	47,956	$2.0m48.0k shares
ONTO INNOVATION INC ONTO	ONTO	16,253	$2.0m16.3k shares
D R HORTON INC DHI	DHI	14,662	$1.9m14.7k shares
GROCERY OUTLET HLDG CORP GO	GO	127,947	$1.8m127.9k shares
ALIBABA GROUP HLDG LTD BABA	BABA	12,816	$1.7m12.8k shares
BIOGEN INC BIIB	BIIB	12,159	$1.7m12.2k shares

Options (notional value)

Underlying	Ticker	Type	Shares controlled	Notional	Change
TRUMP MEDIA & TECHNOLOGY GRO DJT · Put	DJT	Put	11,000	$350.4k11.0k shares	Added