Alger Mid Cap Growth Institutional Fund Class I
ALMRX
NASDAQ- -
USD
- -
- -
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 100 Pearl Street New York NY United States of America 10004
- IPO Date
- Nov 8, 1993
- CIK
- 0000911415
- Website
- alger.com
- Similar Companies
- Business
- Alger Mid Cap Growth Institutional Fund Class I (ALMRX) is an open-end mutual fund managed by Fred Alger Management, LLC that seeks long-term capital appreciation by investing primarily in equity securities of mid-capitalization growth companies. The fund normally invests at least 80% of its net assets in such securities, defined as those with total market capitalization within the range of companies included in the Russell Midcap Growth Index or the S&P MidCap 400 Index at the time of purchase; its portfolio emphasizes sectors including technology (approximately 32%), industrials (19%), and financial services (12%), with top holdings such as GFL Environmental Inc., AppLovin Corp., and Palantir Technologies Inc.; it maintains geographic diversification with about 90% U.S. stocks, 9% non-U.S. stocks, and minimal cash exposure. Launched on November 8, 1993, the fund is domiciled in the United States, available for sale to U.S. investors, and features a net expense ratio of 1.25% with no front-end or deferred loads. Fred Alger Management, LLC, the fund's investment adviser founded in 1964 and headquartered at 360 Park Avenue South in New York City, pioneered growth-style investment management and oversees a suite of growth equity mutual funds, ETFs, separate accounts, and private vehicles for U.S. and non-U.S. institutional investors and financial advisors. The firm operates affiliate offices in Boston, Denver, and London, with recent sales expansion into Singapore to tap Asian growth opportunities. Subsidiaries include Weatherbie Capital, LLC, acquired in 2017 for small- and mid-cap growth equity expertise. In January 2024, Alger expanded its international growth equity capabilities through the acquisition of Redwood Investments, LLC, a Newton, Massachusetts-based firm with over $1.6 billion in assets under management, which became a wholly-owned subsidiary and sub-advisor to Alger's International Focus, Emerging Markets, and Global Focus funds while retaining its independent, women-led investment process. In early 2025, Alger launched its first interval fund registered with the SEC and the Alger Russell Innovation ETF (ticker: INVN), tracking the proprietary Alger Russell Innovation Index, with its ETFs surpassing $600 million in assets under management by October 2025. The firm continues quarterly rebalancing of the Alger Russell Innovation Index, with updates effective December 19, 2025, amid a broadening market rally favoring mid-cap growth strategies as highlighted in its Q3 2025 investor letter.