Alger Associates Discloses 395,025 Shares (34.7%) in Alger 35 ETF
Rhea-AI Filing Summary
Alger Associates, Inc. reports beneficial ownership of 395,025 shares of Alger 35 ETF (CUSIP 015564206), representing 34.7% of the class. The filer states sole voting and sole dispositive power over these shares, and that they are held in the ordinary course of business for one or more open-end investment companies or managed accounts advised by Fred Alger Management, LLC, a wholly owned subsidiary of Alger Group Holdings, LLC. The filing is labeled as Schedule 13G (Amendment No. 15) and includes a certification that the holdings were not acquired to influence control of the issuer.
Positive
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Negative
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Insights
TL;DR: A concentrated 34.7% position is disclosed, showing substantial exposure but declared as passive under Schedule 13G.
The filing reports a sizeable stake of 395,025 shares, with sole voting and dispositive power noted. Because the filer uses Schedule 13G and certifies the holdings are in the ordinary course and not intended to influence control, the position is presented as passive for disclosure purposes. The ownership level is material to capital structure and could affect liquidity or vote outcomes, though no transactions, purchases, or dispositions are detailed here.
TL;DR: Disclosure is thorough; ownership concentration is high but declared non-control under the filers certification.
The document clearly states sole voting and dispositive power along with a 34.7% stake and links the economic ownership to investment vehicles managed by Fred Alger Management, LLC. The filer affirms the ordinary-course, non-control intent required for Schedule 13G treatment. Investors and the issuer should note the ownership concentration and the parent-subsidiary relationships described, but the filing contains no indication of activist intent or governance actions.