Alger Capital Appreciation Focus Fund

INVESTING IN HIGH CONVICTION IDEAS 3

The conviction of our investment ideas is best demonstrated by the top 10 holdings of the portfolio.

8.9 8.5 4.8 4.4 4.3 4.1 3.9 3.7 3.2 3.2

Amazon.com, Inc. Microsoft Corporation salesforce.com, inc. Visa Inc. Class A Alphabet Inc. Class C UnitedHealth Group Incorporated Facebook, Inc. Class A Apple Inc. Bank of America Corporation Intercontinental Exchange, Inc.

TOP 10 HOLDINGS (%) 49 . 1 %

4

INVESTING IN EXPERIENCE

Experience is essential in high conviction investing, as best represented by the portfolio managers’ average years of investing experience.

PATRICK KELLY, CFA EXECUTIVE VICE PRESIDENT HEAD OF ALGER CAPITALAPPRECIATION

AND SPECTRA STRATEGIES 21 Years Investment Experience

AVERAGE YEARS 17 . 5

DR. ANKUR CRAWFORD SENIOR VICE PRESIDENT PORTFOLIO MANAGER 14 Years Investment Experience

All data as of 3/31/18.