Alger Concentrated Equity ETF
CNEQ
New York Stock Exchange Arca- -
USD
- -
- -
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 100 Pearl Street New York NY United States of America 10004
- IPO Date
- Apr 5, 2024
- Website
- alger.com
- Similar Companies
- Business
- Alger Concentrated Equity ETF (CNEQ), issued by The Alger ETF Trust and managed by Fred Alger Management, LLC, is an actively managed exchange-traded fund that seeks long-term capital appreciation by investing in a concentrated portfolio of no more than 30 large-cap equity securities exhibiting high growth potential; the fund targets companies demonstrating "Positive Dynamic Change," characterized by strong management, scalable business models, and multi-year growth in earnings per share and free cash flow across sectors such as technology, AI-enabling infrastructure, cloud computing, and energy transition. Key holdings include NVIDIA Corp., Microsoft Corp., Broadcom Inc., Meta Platforms Inc., Nebius Group N.V., Taiwan Semiconductor Manufacturing Co. Ltd., Alphabet Inc., ASML Holding N.V., Eli Lilly & Co., and Cadence Design Systems Inc., with top positions typically representing 4-6% of assets under management. CNEQ trades on NYSE Arca and employs a Verified Intraday Indicative Value (VIIV) disseminated every second for pricing transparency, rather than daily portfolio disclosure, to support arbitrage while mitigating front-running risks. The fund's net expense ratio stands at 0.55%, with assets under management approximating $37 million as of late 2025. Fred Alger Management, LLC, founded in 1964 and headquartered at 360 Park Avenue South in New York, New York, serves as the investment adviser and pioneers growth-style investing with approximately $33 billion in total assets across mutual funds, ETFs, and separate accounts; the firm operates primarily in the United States, targeting institutional investors, financial advisors, and individual clients seeking exposure to innovative growth equities. Launched on April 5, 2024, CNEQ represents one of Alger's initial high-conviction actively managed ETFs alongside the Alger AI ETF (ALAI), both introduced to capture cutting-edge growth themes; in October 2025, Alger's full ETF suite, including CNEQ, surpassed $600 million in assets under management, reflecting strong inflows into its actively managed growth strategies. Recent firm developments include the July 2025 launch of the Alger International Small Cap Fund (AFAIX), sub-advised by wholly-owned subsidiary Redwood Investments, LLC, expanding Alger's non-U.S. capabilities; quarterly rebalancing of the Alger Russell Innovation Index; and promotions such as George Ortega to Portfolio Manager for select strategies. CNEQ's performance in Q2 2025 benefited from overweight positions in AI and cloud leaders like NVIDIA and Microsoft, amid shifting market dynamics favoring productivity-enhancing technologies.