Core Insights - The Alger Mid Cap 40 ETF employs an investment strategy focused on approximately 40 mid-cap U.S. equities identified through fundamental, bottom-up research emphasizing "Positive Dynamic Change" [1] - The ETF targets mid-cap stocks as defined by the Russell Midcap Growth or S&P MidCap 400, with flexibility to hold positions outside these ranges [1] - Security selection prioritizes business quality, durable growth drivers, competitive positioning, and management execution, while risk controls address issuer concentration and potential sector biases [1] Investment Strategy - The portfolio construction methodology is actively managed, concentrating on mid-cap equities with high unit volume growth or positive lifecycle changes [1] - Cash may be used tactically within stated limits to manage capacity and liquidity, focusing on a roster of seasoned, exchange-listed names [1] - Positions are sized based on conviction and liquidity, with adjustments made following target-price realization, thesis degradation, or unfavorable changes in fundamentals [1] Turnover and Management - The ETF may experience elevated turnover as holdings are re-rated or catalysts are resolved [1]

Group 1: AI in Marketing - AI is significantly enhancing the marketing industry by improving email campaigns through optimized timing and personalized messaging at scale with minimal manual effort [1] - AI aids in streamlining content creation, allowing marketing teams to quickly draft compelling headlines and other text-based content, thus meeting customer needs efficiently [2] - AI also facilitates the creation of graphic design mockups and videos, which is particularly beneficial for smaller teams lacking design expertise [2] Group 2: Broader Implications of AI Adoption - The benefits of AI are not limited to marketing agencies; businesses of all sizes can leverage AI to enhance their marketing efforts, indicating a broad market potential for AI applications [3] - The increasing adoption of AI across various sectors highlights the importance of maintaining AI exposure in investment portfolios, as businesses continue to ramp up their AI infrastructure and innovation [3] Group 3: Alger AI Enablers & Adopters ETF (ALAI) - The Alger AI Enablers & Adopters ETF (ALAI) provides concentrated exposure to key companies involved in AI adoption, development, and utilization [4] - ALAI employs a bottom-up fundamental approach, focusing on companies poised for sustained growth and innovation, categorized under Positive Dynamic Change [4] - As of September 23, 2025, ALAI's NAV has increased by 41.76% year-to-date, outperforming the S&P 500 by over 27% during the same period [4]