The Motley FoolT3·1mo ago
CNEQ Alger Concentrated Equity ETF
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CNEQ
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Key stats
About
Alger Concentrated Equity ETF (CNEQ) ETF
No description available.
- Exchange
- ARCX
- Inception
- 2024-04-04
- Has Options
- No
Fund profile
holdings as of Oct 2, 2026third-party datathrough Jun 2026flows, SEC filings
- Expense ratio
- 0.56% prospectus, filed Apr 28, 2026
- Assets
- $732M SEC filing, Jun 30, 2026
- Trailing yield
- 0.46% paid annual
- Average daily volume
- $9.1M 30 sessions
- Holdings
- 30 top 10 are 61.9%
- Listed
- Apr 4, 2024 NYSE Arca
- Last fee change
- +1 bp filed Apr 28, 2026
Cost32
Liquidity65
Scale66
Diversification39
Moves with. US large-cap stocks (40% of its variance, beta 0.93); Value over growth (39% of its variance, beta -0.79). These factors explain 87% of its daily moves over the last year.
Stated objective. Alger Concentrated Equity ETF seeks long-term capital appreciation. (from the fund's prospectus)
All 30 holdingsFlow historySimilar fundsOverlap toolAll Technology ETFs
Fund flows
through Jun 2026SEC filings- Jun 2026
- +$33M latest reported month
- Latest 3 months
- +$203M +27.7% of assets
- Latest 12 months
- +$553M +75.6% of assets
View as a table
| Month | Net flow |
|---|---|
| Jun 2026 | +$33M |
| May 2026 | +$120M |
| Apr 2026 | +$49M |
| Mar 2026 | +$166M |
| Feb 2026 | +$4.4M |
| Jan 2026 | +$25M |
| Dec 2025 | +$17M |
| Nov 2025 | +$28M |
| Oct 2025 | +$34M |
| Sep 2025 | +$22M |
| Aug 2025 | +$29M |
| Jul 2025 | +$24M |
Net creations and redemptions from the fund's SEC filings, which become public about 60 days after each quarter. Every month since 27 months ago
Similar funds
| Fund | Overlap | Fee | Assets | 1Y | |
|---|---|---|---|---|---|
| ALAIAlger AI Enablers & Adopters ETF | 67% | 0.58% | $451M | +19.4% | compare |
| NYSXGlobal X NYSE 100 ETF | 55% | 0.09% | $28M | — | compare |
| VOOGVanguard S&P 500 Growth ETF | 54% | 0.07% | $27.6B | +16.1% | compare |
| TCHPT. Rowe Price Blue Chip Growth ETF | 54% | 0.57% | $2.2B | +3.2% | compare |
| SCHGSchwab U.S. Large-Cap Growth ETF | 53% | 0.04% | $64.2B | +10.9% | compare |
Ranked by how much of the two portfolios is the same securities.
Look-through: what the holdings say
weights as of Oct 2, 2026third-party data- Holdings vs fair value
- +1.3% 17% under, 18% over · 100% covered
- Price / earnings
- 31.1 11% loss-making · 84% covered
- Price / book · sales
- 8.8 · 8.0 revenue growth +16.8%
- Above 200-day average
- 63% 39% above 50-day · by weight
- Short interest
- 3.5% of float, weighted · 2.6 days to cover
- Insider buying
- 9% of weight had net insider buying, 90 days; 64% net selling
- 13F holders
- +6.2% change in shares held by institutions, latest quarter
- Reporting earnings
- 29.8% of weight in 7 days; 47.9% in 14
Holdings reporting in the next 14 days · weighted implied move this week 1.70%
Each figure is the fund's holdings weighted by position size, using our data on those stocks, and covers only the share of the stock holdings stated. Positive fair value means the holdings trade below our estimate.
What changed in the portfolio
Mar 31, 2026 → Jun 30, 2026| Action | Holding | Weight before | Weight after | Shares vs flows |
|---|---|---|---|---|
| New position | Anthropic PBC | — | 5.28% | — |
| New position | SPCXSPACE EXPLORATION TECHNOLOGIES CORP | — | 3.56% | — |
| New position | Figure AI Inc Class C | — | 2.03% | — |
| Decrease | AMZNAMAZON.COM INC | 6.52% | 4.62% | −20.4% |
| Increase | TLNTALEN ENERGY CORP | 1.26% | 2.90% | +145.9% |
| New position | MUMICRON TECHNOLOGY INC | — | 1.58% | — |
| Exit | CEGConstellation Energy Corp. | 1.23% | — | — |
| Increase | 2026 VDC LP SPV | 0.28% | 1.49% | +581.9% |
| New position | NVONOVO NORDISK A/S | — | 1.08% | — |
| Exit | ISRGIntuitive Surgical Inc. | 1.08% | — | — |
Under the hood
fiscal year to Dec 31, 2025SEC census- Authorized participants
- 5 active of 7 with agreements; top 3 did 99%
- Created · redeemed
- $201M · $15M over the fiscal year
- Redemptions in kind
- 98% creations 98% in kind
- Creation unit
- 12,500 shares
- Securities lending
- authorized, none lent
- Diversification status
- Non-diversified may concentrate in fewer issuers
From the fund's annual census filing with the SEC. In-kind redemptions are what let an ETF shed appreciated securities without realising gains.
ETF Profile
holdings as of 2026-06-30
Holdings
30
AUM
$736.3M
Provider
Nport
Inception
2024-04-04
Exchange
ARCX
Data As Of
2026-06-30
Expense Ratio
0.56%
Dividend Yield
0.46%
Distribution
Annual
Recent distributions
| Ex-Date | Pay Date | Amount | Type |
|---|---|---|---|
| 2025-12-18 | 2025-12-31 | $0.1800 | CD |
| 2024-12-18 | 2024-12-31 | $0.0411 | CD |
Asset Allocation
Top Holdings
top 30 of 30 holdings
| Symbol | Name | Weight % | Asset Class | Country |
|---|---|---|---|---|
| NVDA | NVIDIA CORP | 13.06% | Equity (common) | US |
| TSM | TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LTD | 6.10% | Equity (common) | TW |
| MSFT | MICROSOFT CORP | 5.80% | Equity (common) | US |
| GOOG | ALPHABET INC | 5.65% | Equity (common) | US |
| — | NEBIUS GROUP NV | 5.40% | Equity (common) | NL |
| — | Anthropic PBC | 5.28% | Equity (common) | US |
| WDC | WESTERN DIGITAL CORP | 5.20% | Equity (common) | US |
| AMZN | AMAZON.COM INC | 4.62% | Equity (common) | US |
| AAPL | APPLE INC | 4.42% | Equity (common) | US |
| AVGO | BROADCOM INC | 4.17% | Equity (common) | US |
| SPCX | SPACE EXPLORATION TECHNOLOGIES CORP | 3.56% | Equity (common) | US |
| TSLA | TESLA INC | 3.16% | Equity (common) | US |
| GEV | GE VERNOVA INC | 3.05% | Equity (common) | US |
| QXO | QXO INC | 2.96% | Equity (common) | US |
| TLN | TALEN ENERGY CORP | 2.90% | Equity (common) | US |
| META | META PLATFORMS INC | 2.79% | Equity (common) | US |
| APP | APPLOVIN CORP | 2.57% | Equity (common) | US |
| SE | SEA LTD | 2.24% | Equity (common) | KY |
| ALAB | ASTERA LABS INC | 2.11% | Equity (common) | US |
| — | Figure AI Inc Class C | 2.03% | Equity (common) | US |
| HEI.A | HEICO CORP | 2.02% | Equity (common) | US |
| GFL | GFL ENVIRONMENTAL INC | 1.75% | Equity (common) | CA |
| LLY | ELI LILLY & COMPANY | 1.73% | Equity (common) | US |
| MU | MICRON TECHNOLOGY INC | 1.58% | Equity (common) | US |
| — | 2026 VDC LP SPV | 1.49% | Equity (common) | US |
| NTRA | NATERA INC | 1.48% | Equity (common) | US |
| NVO | NOVO NORDISK A/S | 1.08% | Equity (common) | DK |
| AMD | ADVANCED MICRO DEVICES INC | 0.90% | Equity (common) | US |
| FIGR | FIGURE TECHNOLOGY SOLUTIONS INC | 0.86% | Equity (common) | US |
| RKT | ROCKET COMPANIES INC | 0.67% | Equity (common) | US |
Geographic Breakdown
Chart
Seasonality
| Month | '24 | '25 | '26 | Avg |
|---|---|---|---|---|
| Jan | -- | 1.91% | -1.79% | 0.06% |
| Feb | -- | -3.97% | -3.38% | -3.67% |
| Mar | -- | -6.63% | -5.30% | -5.96% |
| Apr | -5.24% | 1.01% | 15.61% | 3.79% |
| May | 8.88% | 13.60% | 12.12% | 11.53% |
| Jun | 5.77% | 8.16% | -0.55% | 4.46% |
| Jul | -4.17% | 8.83% | -5.13% | -0.16% |
| Aug | 5.42% | 4.57% | 0.20% | 3.40% |
| Sep | 9.55% | 11.03% | 3.97% | 8.18% |
| Oct | 3.21% | 2.26% | -7.35%* | -0.63% |
| Nov | 8.58% | -4.11% | -- | 2.23% |
| Dec | -0.21% | -0.89% | -- | -0.55% |
| Total | 35.06% | 39.26% | 6.07% | 26.80% |
* Only 3 year(s) of data available.
Technical Indicators
Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.
Trend Indicators
- SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
- EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
- MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
- ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
- +DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.
Momentum Oscillators
- RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
- Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
- Williams %R — inverted scale: <−80 oversold, >−20 overbought.
Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.
Volume & Volatility
- Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
- OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
- Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
- ATR / True Range — average daily $ move; sizing and stop-loss reference.
- HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.
Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →
Trend Indicators
SMA 20: $40.18
SMA 50: $40.00
SMA 200: $37.33
Current: $37.69
EMA 12: $39.34
EMA 26: $39.80
MACD: -0.4580 | Signal: -0.3186
BEARISH
ADX (14): 23.41
WEAK TREND
+DI: 13.03
−DI: 40.96
Momentum Oscillators
RSI (14): 32.71
NEUTRAL
Stoch %K: 13.74
Stoch %D: 13.75
Williams %R: -95.87
Volume & Volatility
BB Upper: $42.42
BB Lower: $37.94
OVERSOLD
OBV: 7,881,743
Vol SMA 20: 272,713
Vol ROC: 32.11%
ATR: $0.80
True Range: $1.69
HV 20: 22.9%
HV 30: 22.7%
HV 60: 23.2%
Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-10-24T00:00:00 – 2026-10-22T00:00:00
AI Analysis
LMM Stock Analysis Report
Executive Summary
Overall assessment: BEARISH with confidence level (6/10)
Key drivers:
- High volatility and beta indicate increased risk
- Recent lack of news activity may suggest a pause in momentum
- Technical indicators point to a potential reversal or consolidation phase
Primary risks:
- Continued high volatility could lead to increased market stress
- Lack of earnings data hinders fundamental analysis
Investment thesis: CNEQ appears overbought and due for a correction. While recent news sentiment is neutral, the stock's technicals suggest a near-term pullback.
Recent news sentiment impact: No recent news available; therefore, no impact assessment possible.
Technical Analysis
Trend Direction: Short-term (1-4 weeks): BEARISH, Medium-term (1-3 months): NEUTRAL, Long-term (3-12 months): BULLISH
Support/Resistance Levels:
- Key price levels: $38.98 (SMA 20), $35.88 (SMA 50), and $34.53 (SMA 200)
- Resistance levels: $41.54 (Upper Bollinger Band)
Momentum Signals: RSI interpretation: Neutral (69.60) with potential sell signal MACD signal: Bullish momentum (1.32 / Signal: 0.07 / Histogram: 1.25) Bollinger Bands position: Squeeze (neutral)
News & Sentiment Analysis
Recent Headlines Summary: No recent news available
Sentiment Assessment: Neutral due to lack of recent news activity
Catalyst Identification: None
Market Narrative: Without recent news, the market narrative is unclear.
Risk & Volatility Assessment
Beta Interpretation: High risk (beta >1.5) relative to SPY (beta 0.8)
Volatility Regime: Current volatility is high compared to historical levels (HV20 23.5%, HV30 21.7%, HV60 26.0%)
Options Market Signals: No options data available
Downside Protection: Support levels ($38.98, $35.88, and $34.53) should be monitored for potential downside protection.
Market Context & Positioning
Sector Performance: Relative strength vs sector/market is unclear without recent news
Institutional Activity: Volume patterns suggesting institutional interest are absent due to lack of recent news activity
Correlation Analysis: How stock moves relative to market (R-squared interpretation) cannot be assessed due to absence of recent market data.
Relative Valuation: Position within trading range is unclear without recent price action data.
Key Levels & Action Items
Critical Price Levels: $38.98, $35.88, and $34.53
Breakout/Breakdown Levels: $41.54 (Upper Bollinger Band)
Time-Sensitive Catalysts: None available
Risk Management: Stop-loss levels should be set around $36.42 (Lower Bollinger Band) to manage risk.
Please note that this analysis is based on the provided data and does not reflect any external market or economic conditions that may impact the stock's performance.
Generated
News
All CNEQ news →
CNEQ Options Activity & IV Rank
Loading options activity...
Spread Scanner GPU
Each spread is ranked by a composite score built in three stages. Full documentation →
Stage 1 — Base Score (GPU scanner)
score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.
Stage 2 — Skew Adjustment (±25% cap)
RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.
Stage 3 — Technical Overlay (±50% cap, 5 groups)
Group 1 · Directional Bias (±0.25)
- RSI <40 bullish / >60 bearish
- MACD crossover + histogram trend
- Price vs SMA 50 & SMA 200
Group 2 · Momentum (±0.10)
- Stochastic %K <20 / >80
- Williams %R <−80 / >−20
Group 3 · Volatility (up to −0.25 / +0.15)
- Blended ATR + straddle expected-move penalty
- Bollinger Band signal (+ counter-trend penalty)
- BB width — vol contraction boost for ICs
Group 4 · IV Regime (±0.15)
- IV rank ≥ 75 → strong boost for credit spreads
- IV rank < 25 → penalty (selling cheap vol)
Group 5 · Liquidity (penalty up to −0.10)
- Min open interest across all legs
- OI < 100 → −0.10 · OI < 500 → −0.05
score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →
Enter a ticker to scan for optimal spread opportunities.
Evaluates all bull put, bear call, iron condor, and calendar spread combinations using GPU-accelerated analysis.
Skew (Wing IV − ATM IV)
DTE:
Wing Δ:
Wing vs ATM
IV(put wing) − IV(ATM), in vol pointsHow much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.
- Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
- Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
- Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
- Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
Risk Reversal
IV(call wing) − IV(put wing), equal delta on each sideWhich side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.
- Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
- Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
- Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
- Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Reading them together
Wing-vs-ATM tells you how expensive the tails are. Risk Reversal tells you which side is favored. Combined:
- High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
- Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
- Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
14 DTE / 10d
—
—
pts
EXTREME
ATM — / Wing —
30 DTE / 10d
—
—
pts
EXTREME
ATM — / Wing —
Extreme reading.
Historically these have been contrarian — on the small set of observed earnings-day cases, large negative wing-vs-ATM gaps (calls pricing much richer than puts at the same delta) preceded sharp drops in the underlying within 1-12 days. Not financial advice and the dataset is small.
Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.
Volatility Surface
Enter a ticker to render the implied volatility surface.
Volatility Smile
Enter a ticker to render the implied volatility smile.
IV Rank (7 DTE)
IV Rank (30 DTE)
Straddle Price (30 DTE)
Beta Analysis
Risk Metrics
Beta: 1.7370
Alpha: -11.53%
Correlation: 0.8617
R-Squared: 74.3%
Stock Volatility: 25.7%
Market Volatility: 12.7%
Analysis Details
Benchmark: SPY
Data Points: 251
Period: 252 trading days
Data Points: 251
Period: 252 trading days
Interpretation:
High volatility - stock moves more than market
High volatility - stock moves more than market
Beta & Alpha Over Time
CNEQ Institutional Ownership (13F)
Latest filings — 2026-09-30Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.
- Shares — long equity positions in this name, aggregated across share classes.
- Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
- % of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
- Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.
Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.
| # | Filer | Notional Value | % of Total | Period |
|---|
| # | Filer | Notional Value | % of Total | Period |
|---|
CNEQ Constituent Performance
Click any bar to view the full quote for that stock.
CNEQ Constituents (26 of 26)
| Symbol | Name | Weight % | Price | 1 Day | 1 Week | 1 Month |
|---|---|---|---|---|---|---|
| NVDA | NVIDIA CORP | 13.06% | $212.21 | -4.40% | -2.31% | -5.51% |
| TSM | TAIWAN SEMICONDUCTOR MANUFACTURING COMPANY LTD | 6.10% | $412.35 | -4.52% | -2.34% | -8.60% |
| MSFT | MICROSOFT CORP | 5.80% | $521.08 | -2.23% | -3.40% | +4.65% |
| GOOG | ALPHABET INC | 5.65% | $320.76 | -3.08% | -7.00% | -5.38% |
| WDC | WESTERN DIGITAL CORP | 5.20% | $354.19 | -6.43% | -0.63% | -21.35% |
| AMZN | AMAZON.COM INC | 4.62% | $250.38 | -4.57% | -1.72% | +0.40% |
| AAPL | APPLE INC | 4.42% | $348.22 | +1.23% | +1.82% | +3.66% |
| AVGO | BROADCOM INC | 4.17% | $323.24 | -4.31% | -6.12% | -7.74% |
| SPCX | SPACE EXPLORATION TECHNOLOGIES CORP | 3.56% | $144.75 | -9.14% | -2.60% | -2.22% |
| TSLA | TESLA INC | 3.16% | $374.58 | -3.08% | +3.35% | -0.89% |
| GEV | GE VERNOVA INC | 3.05% | $827.42 | -10.64% | -10.69% | -13.36% |
| QXO | QXO INC | 2.96% | $11.02 | +6.89% | -1.43% | -10.11% |
| TLN | TALEN ENERGY CORP | 2.90% | $331.42 | -7.81% | -6.27% | +10.47% |
| META | META PLATFORMS INC | 2.79% | $648.85 | -6.98% | -11.93% | -16.56% |
| APP | APPLOVIN CORP | 2.57% | $264.28 | -1.35% | -5.37% | -15.42% |
| SE | SEA LTD | 2.24% | $75.69 | -2.89% | -22.37% | -24.86% |
| ALAB | ASTERA LABS INC | 2.11% | $257.82 | -11.11% | -14.62% | -28.48% |
| HEI.A | HEICO CORP | 2.02% | $228.6 | +1.10% | -1.18% | -0.37% |
| GFL | GFL ENVIRONMENTAL INC | 1.75% | $44.14 | +1.52% | +1.35% | +5.62% |
| LLY | ELI LILLY & COMPANY | 1.73% | $1306.69 | +2.83% | +4.40% | +10.56% |
| MU | MICRON TECHNOLOGY INC | 1.58% | $856.49 | -6.26% | -8.03% | -20.73% |
| NTRA | NATERA INC | 1.48% | $401.37 | -2.91% | -0.84% | -1.82% |
| NVO | NOVO NORDISK A/S | 1.08% | $39.43 | +0.95% | +0.54% | +2.10% |
| AMD | ADVANCED MICRO DEVICES INC | 0.90% | $507.93 | -8.10% | -9.66% | -19.28% |
| FIGR | FIGURE TECHNOLOGY SOLUTIONS INC | 0.86% | $24.04 | -5.21% | -13.12% | -26.39% |
| RKT | ROCKET COMPANIES INC | 0.67% | $11.74 | +5.67% | +6.05% | -1.59% |