#United States #New York #Enphase Energy #Elastic N.V. #Alger Russell Innovation

Alger Innovations Index Update - Q2 2025

On June 25, 2025, Fred Alger Management, LLC, announced key updates to the Alger Russell Innovation Index as part of its quarterly rebalancing. This index serves as a benchmark for identifying companies that demonstrate potential for substantial long-term growth through innovation and technology. The changes were set to take effect after the market closed on June 27, 2025.

New Additions to the Index

The Alger Russell Innovation Index will welcome several new entries, including:

• - Enphase Energy Inc. (ENPH): This company has been recognized for its leadership in energy management technology, paving the way for sustainable energy solutions.
• - Elastic N.V. (ESTC): Known for powerful search solutions, Elastic brings innovation in how companies manage and analyze data.
• - Gentex Corp. (GNTX): A leader in automotive technology, Gentex specializes in smart rearview mirrors and other advanced automotive systems.
• - Atlassian (TEAM): Popular for software that enhances collaborative team environments, Atlassian's solutions have become staples in project management.
• - Teradyne (TER): Recognized for its contributions to automation and test equipment, Teradyne is pivotal in the advancement of electronic devices.
• - Zillow Group CL C (Z): As a disruptor in the real estate market, Zillow's innovative approach to real estate transactions is noteworthy.

These companies represent a diverse mix of industries, showcasing Alger's focus on identifying growth potential across various sectors.

Companies Exiting the Index

While new entities are being welcomed, some companies will depart from the Index. The following firms will be removed:

• - DocuSign, Inc. (DOCU): Once a favored choice for electronic signature solutions, DocuSign has faced challenges that led to its removal.
• - FMC Corporation (FMC): Known for its agricultural sciences and specialty chemicals, FMC's current positioning has resulted in a shift from the index.
• - Gilead Sciences, Inc. (GILD): Despite its reputation in biotechnology and pharmaceuticals, Gilead will exit the index due to evolving market conditions.
• - Informatica, Inc. Class A (INFA): As a data management company, Informatica's trajectory has prompted a reevaluation within the index.
• - Juniper Networks, Inc. (JNPR): A key player in networking and cybersecurity, Juniper will step down from the index amid market changes.
• - Playtika Holding Corp. (PLTK): Known for its mobile gaming platforms, Playtika's position within the sector has led to its exclusion.

About Alger Management

Fred Alger Management, LLC has been at the forefront of growth-style investment management since its establishment in 1964. The firm specializes in discovering what they term 'Positive Dynamic Change', focusing on innovative companies that show signs of substantial growth potential. Based in New York City, Alger aims to help investors discover opportunities that will unlock their growth potential through a range of investment strategies, including mutual funds and ETFs.

Investing in the stock market, especially in growth stocks, carries inherent risks. Investors must be cognizant of potential market fluctuations and the evolving landscape of the companies in which they invest. For more details on the Alger Russell Innovation Index and other investment strategies, please visit www.alger.com.

Conclusion

The Alger Russell Innovation Index's quarterly rebalancing reflects the dynamic nature of the market and the importance of adapting investment strategies to capture growth opportunities. As new companies are added and others removed, the focus remains on those businesses that not only innovate but also drive significant industry changes.