97491d76-45d8-4852-a4cc-afb14a8ded16

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number

811-21308

Alger Global Equity Fund

(Exact name of registrant as specified in charter)

100 Pearl Street, New York, New York 10004

Registrant’s telephone number, including area code:

212-806-8800

Date of fiscal year end:

10/31

Date of reporting period:

April 30, 2026

Item 1. Report to Stockholders.

(a) The registrant’s semi-annual report transmitted to shareholders pursuant to Rule 30e-1 under the Investment Company Act of 1940 is as follows:

Alger Global Equity Fund

Class A / CHUSX

Semi-Annual SHAREHOLDER REPORT | April 30, 2026

This semi-annual shareholder report contains important information about the Alger Global Equity Fund (“Fund”) for the period from November 1, 2025 to April 30, 2026. You can find additional information about the Fund at www.alger.com/fundliterature. You can also request a copy of the semi-annual report by contacting us at (800) 992-3863.

What were the Fund costs for the last six months?

(Based on a hypothetical $10,000 investment)

Fund (Class/Ticker)	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Alger Global Equity Fund (Class A / CHUSX)	$60	1.20%(a)

(a)	Annualized.

Key Fund Statistics

The following table outlines key fund statistics as of the fiscal six-month period ended April 30, 2026.

Fund net assets	$20,407,264
Total number of portfolio holdings¹	39
Portfolio turnover rate	33.49%

¹	Number of portfolio holdings is calculated at the issuer level. Excludes Money Market Funds.

Geographical Allocation ^†

Belgium	1.3%
Brazil	3.1%
Canada	3.3%
Denmark	3.2%
Germany	3.9%
Italy	2.5%
Japan	7.3%
Netherlands	3.4%
Norway	2.5%
South Korea	6.3%
Spain	2.0%
Taiwan	3.9%
United Kingdom	6.1%
United States	48.1%
Short-Term Investments and Net Other Assets	3.1%
	100.0%

^†	Based on net assets

Availability of Additional Information

You can find additional information about the Fund such as the prospectus, financial information and fund holdings at www.alger.com/fundliterature. Fund proxy voting information is available at https://www.alger.com/ProxyVoting. You can also request this information by contacting us at (800) 992-3863.

For additional information, please scan the QR code at left to navigate to additional hosted material at www.alger.com/fundliterature.

Alger Global Equity Fund

Class C / CHUCX

Semi-Annual SHAREHOLDER REPORT | April 30, 2026

What were the Fund costs for the last six months?

(Based on a hypothetical $10,000 investment)

Fund (Class/Ticker)	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Alger Global Equity Fund (Class C / CHUCX)	$113	2.25%(a)

(a)	Annualized.

Key Fund Statistics

The following table outlines key fund statistics as of the fiscal six-month period ended April 30, 2026.

Fund net assets	$20,407,264
Total number of portfolio holdings¹	39
Portfolio turnover rate	33.49%

¹	Number of portfolio holdings is calculated at the issuer level. Excludes Money Market Funds.

Geographical Allocation ^†

Belgium	1.3%
Brazil	3.1%
Canada	3.3%
Denmark	3.2%
Germany	3.9%
Italy	2.5%
Japan	7.3%
Netherlands	3.4%
Norway	2.5%
South Korea	6.3%
Spain	2.0%
Taiwan	3.9%
United Kingdom	6.1%
United States	48.1%
Short-Term Investments and Net Other Assets	3.1%
	100.0%

^†	Based on net assets

Availability of Additional Information

For additional information, please scan the QR code at left to navigate to additional hosted material at www.alger.com/fundliterature.

Alger Global Equity Fund

Class I / AFGIX

Semi-Annual SHAREHOLDER REPORT | April 30, 2026

What were the Fund costs for the last six months?

(Based on a hypothetical $10,000 investment)

Fund (Class/Ticker)	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Alger Global Equity Fund (Class I / AFGIX)	$60	1.20%(a)

(a)	Annualized.

Key Fund Statistics

The following table outlines key fund statistics as of the fiscal six-month period ended April 30, 2026.

Fund net assets	$20,407,264
Total number of portfolio holdings¹	39
Portfolio turnover rate	33.49%

¹	Number of portfolio holdings is calculated at the issuer level. Excludes Money Market Funds.

Geographical Allocation ^†

Belgium	1.3%
Brazil	3.1%
Canada	3.3%
Denmark	3.2%
Germany	3.9%
Italy	2.5%
Japan	7.3%
Netherlands	3.4%
Norway	2.5%
South Korea	6.3%
Spain	2.0%
Taiwan	3.9%
United Kingdom	6.1%
United States	48.1%
Short-Term Investments and Net Other Assets	3.1%
	100.0%

^†	Based on net assets

Availability of Additional Information

For additional information, please scan the QR code at left to navigate to additional hosted material at www.alger.com/fundliterature.

Alger Global Equity Fund

Class Z / AFGZX

Semi-Annual SHAREHOLDER REPORT | April 30, 2026

What were the Fund costs for the last six months?

(Based on a hypothetical $10,000 investment)

Fund (Class/Ticker)	Costs of a $10,000 investment	Costs paid as a percentage of a $10,000 investment
Alger Global Equity Fund (Class Z / AFGZX)	$50	0.99%(a)

(a)	Annualized.

Key Fund Statistics

The following table outlines key fund statistics as of the fiscal six-month period ended April 30, 2026.

Fund net assets	$20,407,264
Total number of portfolio holdings¹	39
Portfolio turnover rate	33.49%

¹	Number of portfolio holdings is calculated at the issuer level. Excludes Money Market Funds.

Geographical Allocation ^†

Belgium	1.3%
Brazil	3.1%
Canada	3.3%
Denmark	3.2%
Germany	3.9%
Italy	2.5%
Japan	7.3%
Netherlands	3.4%
Norway	2.5%
South Korea	6.3%
Spain	2.0%
Taiwan	3.9%
United Kingdom	6.1%
United States	48.1%
Short-Term Investments and Net Other Assets	3.1%
	100.0%

^†	Based on net assets

Availability of Additional Information

For additional information, please scan the QR code at left to navigate to additional hosted material at www.alger.com/fundliterature.

Alger Global Equity Fund

(a) A Schedule of Investments in securities of unaffiliated issuers as of the close of the Reporting Period is included as part of the report to shareholders filed under Item 7 of this Form N-CSR.

ALGER GLOBAL EQUITY FUND

Financial Highlights for a share outstanding throughout the period (Unaudited)

Alger Global Equity Fund	Class A
	Six Months Ended 4/30/2026(a)	Year Ended 10/31/2025	Year Ended 10/31/2024	Year Ended 10/31/2023	Year Ended 10/31/2022	Year Ended 10/31/2021
Net asset value, beginning of period	$31.19	$31.77	$23.02	$22.12	$36.67	$26.21
INCOME FROM INVESTMENT OPERATIONS:
Net investment income (loss)(b)	0.10	(0.07)	(0.12)	(0.15)	(0.26)	(0.31)
Net realized and unrealized gain (loss) on investments	0.43	4.06	8.87	1.05	(11.10)	10.77
Total from investment operations	0.53	3.99	8.75	0.90	(11.36)	10.46
Distributions from net realized gains	(2.47)	(4.57)	—	—	(3.19)	—
Net asset value, end of period	$29.25	$31.19	$31.77	$23.02	$22.12	$36.67
Total return(c)	2.41 %	13.68 %	38.05 %	4.07 %	(33.73) %	39.91 %
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (000’s omitted)	$16,326	$18,110	$17,637	$13,661	$13,900	$22,407
Ratio of gross expenses to average net assets	2.23 %	2.19 %	2.54 %	2.30 %	2.06 %	1.73 %
Ratio of expense reimbursements to average net assets	(1.03) %	(0.99) %	(1.24) %	(0.80) %	(0.56) %	(0.23) %
Ratio of net expenses to average net assets	1.20 %	1.20 %	1.30 %	1.50 %	1.50 %	1.50 %
Ratio of net investment income (loss) to average net assets	0.67 %	(0.25) %	(0.40) %	(0.62) %	(0.99) %	(0.97) %
Portfolio turnover rate	33.49 %	86.92 %	93.65 %	35.65 %	36.86 %	64.10 %

(a)	Ratios have been annualized; total return and portfolio turnover rate have not been annualized.
(b)	Amount was computed based on average shares outstanding during the period.
(c)	Does not reflect the effect of sales charges, if applicable.

See Notes to Financial Statements.

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ALGER GLOBAL EQUITY FUND

Financial Highlights for a share outstanding throughout the period (Unaudited)

Alger Global Equity Fund	Class C
	Six Months Ended 4/30/2026(a)	Year Ended 10/31/2025	Year Ended 10/31/2024	Year Ended 10/31/2023	Year Ended 10/31/2022	Year Ended 10/31/2021
Net asset value, beginning of period	$27.34	$28.60	$20.93	$20.26	$34.09	$24.54
INCOME FROM INVESTMENT OPERATIONS:
Net investment (loss)(b)	(0.08)	(0.33)	(0.36)	(0.30)	(0.43)	(0.50)
Net realized and unrealized gain (loss) on investments	0.38	3.64	8.03	0.97	(10.21)	10.05
Total from investment operations	0.30	3.31	7.67	0.67	(10.64)	9.55
Distributions from net realized gains	(2.47)	(4.57)	—	—	(3.19)	—
Net asset value, end of period	$25.17	$27.34	$28.60	$20.93	$20.26	$34.09
Total return(c)	1.91 %	12.69 %	36.65 %	3.31 %	(34.21) %	38.86 %
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (000’s omitted)	$107	$203	$317	$476	$831	$1,922
Ratio of gross expenses to average net assets	3.11 %	3.01 %	2.87 %	3.19 %	2.78 %	2.43 %
Ratio of expense reimbursements to average net assets	(0.86) %	(0.76) %	(0.59) %	(0.94) %	(0.53) %	(0.24) %
Ratio of net expenses to average net assets	2.25 %	2.25 %	2.28 %	2.25 %	2.25 %	2.19 %
Ratio of net investment loss to average net assets	(0.66) %	(1.30) %	(1.39) %	(1.37) %	(1.73) %	(1.66) %
Portfolio turnover rate	33.49 %	86.92 %	93.65 %	35.65 %	36.86 %	64.10 %

(a)	Ratios have been annualized; total return and portfolio turnover rate have not been annualized.
(b)	Amount was computed based on average shares outstanding during the period.
(c)	Does not reflect the effect of sales charges, if applicable.

See Notes to Financial Statements.

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ALGER GLOBAL EQUITY FUND

Financial Highlights for a share outstanding throughout the period (Unaudited)

Alger Global Equity Fund	Class I
	Six Months Ended 4/30/2026(a)	Year Ended 10/31/2025	Year Ended 10/31/2024	Year Ended 10/31/2023	Year Ended 10/31/2022	Year Ended 10/31/2021
Net asset value, beginning of period	$30.32	$31.00	$22.44	$21.51	$35.66	$25.42
INCOME FROM INVESTMENT OPERATIONS:
Net investment income (loss)(b)	0.10	(0.07)	(0.11)	(0.09)	(0.19)	(0.21)
Net realized and unrealized gain (loss) on investments	0.40	3.96	8.67	1.02	(10.77)	10.45
Total from investment operations	0.50	3.89	8.56	0.93	(10.96)	10.24
Distributions from net realized gains	(2.47)	(4.57)	—	—	(3.19)	—
Net asset value, end of period	$28.35	$30.32	$31.00	$22.44	$21.51	$35.66
Total return(c)	2.42 %	13.70 %	38.15 %	4.32 %	(33.55) %	40.23 %
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (000’s omitted)	$159	$161	$162	$182	$286	$376
Ratio of gross expenses to average net assets	2.26 %	2.23 %	2.32 %	2.40 %	2.03 %	1.70 %
Ratio of expense reimbursements to average net assets	(1.06) %	(1.03) %	(1.09) %	(1.15) %	(0.78) %	(0.49) %
Ratio of net expenses to average net assets	1.20 %	1.20 %	1.23 %	1.25 %	1.25 %	1.21 %
Ratio of net investment income (loss) to average net assets	0.72 %	(0.25) %	(0.38) %	(0.39) %	(0.73) %	(0.68) %
Portfolio turnover rate	33.49 %	86.92 %	93.65 %	35.65 %	36.86 %	64.10 %

(a)	Ratios have been annualized; total return and portfolio turnover rate have not been annualized.
(b)	Amount was computed based on average shares outstanding during the period.
(c)	Does not reflect the effect of sales charges, if applicable.

See Notes to Financial Statements.

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ALGER GLOBAL EQUITY FUND

Financial Highlights for a share outstanding throughout the period (Unaudited)

Alger Global Equity Fund	Class Z
	Six Months Ended 4/30/2026(a)	Year Ended 10/31/2025	Year Ended 10/31/2024	Year Ended 10/31/2023	Year Ended 10/31/2022	Year Ended 10/31/2021
Net asset value, beginning of period	$32.83	$33.15	$23.95	$22.89	$37.65	$26.78
INCOME FROM INVESTMENT OPERATIONS:
Net investment income (loss)(b)	0.15	(0.01)	(0.03)	(0.03)	(0.15)	(0.15)
Net realized and unrealized gain (loss) on investments	0.45	4.26	9.23	1.09	(11.42)	11.02
Total from investment operations	0.60	4.25	9.20	1.06	(11.57)	10.87
Distributions from net realized gains	(2.47)	(4.57)	—	—	(3.19)	—
Net asset value, end of period	$30.96	$32.83	$33.15	$23.95	$22.89	$37.65
Total return(c)	2.54 %	13.93 %	38.42 %	4.63 %	(33.38) %	40.54 %
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (000’s omitted)	$3,815	$3,556	$3,469	$2,668	$2,828	$10,860
Ratio of gross expenses to average net assets	1.91 %	1.88 %	2.26 %	1.97 %	1.65 %	1.42 %
Ratio of expense reimbursements to average net assets	(0.92) %	(0.89) %	(1.26) %	(0.98) %	(0.66) %	(0.43) %
Ratio of net expenses to average net assets	0.99 %	0.99 %	1.00 %	0.99 %	0.99 %	0.99 %
Ratio of net investment income (loss) to average net assets	0.98 %	(0.04) %	(0.10) %	(0.11) %	(0.53) %	(0.44) %
Portfolio turnover rate	33.49 %	86.92 %	93.65 %	35.65 %	36.86 %	64.10 %

(a)	Ratios have been annualized; total return and portfolio turnover rate have not been annualized.
(b)	Amount was computed based on average shares outstanding during the period.
(c)	Does not reflect the effect of sales charges, if applicable.

See Notes to Financial Statements.

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ALGER GLOBAL EQUITY FUND

NOTES TO FINANCIAL STATEMENTS (Unaudited)

NOTE 1 — General:

Alger Global Equity Fund (the “Fund”) is an open-end registered investment company organized as a business trust under the laws of the Commonwealth of Massachusetts. The Fund qualifies as an investment company as defined in Financial Accounting Standards Board (“FASB”) Accounting Standards Codification 946 – Financial Services – Investment Companies. The Fund’s investment objective is long-term capital appreciation. It seeks to achieve its objective by investing in equity securities of global companies, which include both U.S. and foreign companies. The Fund’s foreign investments will include securities of companies in both developed and emerging market countries.

The Fund offers Class A, C, I and Z shares. Class A shares are generally subject to an initial sales charge while Class C shares are generally subject to a deferred sales charge. Class C shares will automatically convert to Class A shares on the fifth business day of the month following the eighth anniversary of the purchase date of a shareholder’s Class C shares, without the imposition of any sales load, fee or other charge. Class C shares held at certain dealers may not convert to Class A shares or may be converted on a different schedule. At conversion, a proportionate amount of shares representing reinvested dividends and distributions will also be converted into Class A shares. Effective August 27, 2019, Class C shares were closed to direct shareholders and are only available for purchase through certain financial intermediaries and group retirement plan recordkeeping platforms. Class I shares are generally sold to institutional investors and are sold without an initial or deferred sales charge. Class Z shares are generally subject to a minimum initial investment of $500,000. Each class has identical rights to assets and earnings, except that each share class bears the pro rata allocation of the Fund’s expenses other than a class expense.

NOTE 2 — Significant Accounting Policies:

(a) Investment Valuation: The Fund values its financial instruments at fair value using independent dealers or pricing services under policies approved by the Board of Trustees of the Fund (the “Board”). Investments held by the Fund are valued on each day the New York Stock Exchange (the “NYSE”) is open, as of the close of the NYSE (normally 4:00 p.m. Eastern Time).

The Board has designated, pursuant to Rule 2a-5 under the Investment Company Act of 1940, as amended (the “1940 Act”), Fred Alger Management, LLC, the Fund’s investment adviser (“Alger Management” or the “Investment Manager”), as its valuation designee (the “Valuation Designee”) to make fair value determinations subject to the Board’s oversight. The Valuation Designee has established a Valuation Committee (“Committee”) comprised of representatives of the Investment Manager and officers of the Fund to assist in performing the duties and responsibilities of the Valuation Designee.

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ALGER GLOBAL EQUITY FUND

NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)

The Valuation Designee has established valuation processes including but not limited to: (i) making fair value determinations when market quotations for financial instruments are not readily available in accordance with valuation policies and procedures adopted by the Board; (ii) assessing and managing material risks associated with fair valuation determinations; (iii) selecting, applying and testing fair valuation methodologies; and (iv) overseeing and evaluating pricing services used by the Fund. The Valuation Designee reports its fair valuation determinations and related valuation information to the Board, at least quarterly. The Committee generally meets quarterly and on an as-needed basis to review and evaluate the effectiveness of the valuation policies and procedures in accordance with the requirements of Rule 2a-5.

Investments in short-term securities held by the Fund having a remaining maturity of sixty days or less are valued at amortized cost which approximates market value. Investments in other open-end investment companies registered under the 1940 Act, including money market funds, are valued at such investment companies’ net asset value per share.

Equity securities, including traded rights, warrants and option contracts for which valuation information is readily available, are valued at the last quoted sales price or official closing price on the primary market or exchange on which they are traded as reported by an independent pricing service. In the absence of quoted sales, such securities are generally valued at the bid price or, in the absence of a recent bid price, the equivalent as obtained from one or more of the major market makers for the securities to be valued.

Securities in which the Fund invests may be traded in foreign markets that close before the close of the NYSE. Developments that occur between the close of the foreign markets and the close of the NYSE may result in adjustments to the closing foreign prices to reflect what the Valuation Designee, through its Committee, believes to be the fair value of these securities as of the close of the NYSE. The Fund may also fair value securities in other situations, for example, when a particular foreign market is closed but the NYSE is open.

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ALGER GLOBAL EQUITY FUND

NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)

FASB Accounting Standards Codification 820 – Fair Value Measurements and Disclosures (“ASC 820”) defines fair value as the price that the Fund would receive upon selling an investment in a timely transaction to an independent buyer in the principal or most advantageous market of the investment. ASC 820 established a three-tier hierarchy to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Inputs refer broadly to the assumptions that market participants would use in pricing the asset or liability and may be observable or unobservable. Observable inputs are based on market data obtained from sources independent of the Fund. Unobservable inputs are inputs that reflect the Fund’s own assumptions based on the best information available in these circumstances. The three-tier hierarchy of inputs is summarized in the three broad Levels listed below. The Fund’s quantitative summary by Level can be found in Note 9.

• Level 1 – quoted prices in active markets for identical investments

• Level 2 – significant other observable inputs (including quoted prices for similar or identical investments, amortized cost, interest rates, prepayment speeds, credit risk, etc.)

• Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

The Fund’s valuation techniques are generally consistent with either the market or the income approach to fair value. The market approach considers prices and other relevant information generated by market transactions involving identical or comparable assets to measure fair value. The income approach converts future amounts to a current, or discounted, single amount. These fair value measurements are determined on the basis of the value indicated by current market expectations about such future events. Inputs for Level 1 include exchange-listed prices and broker quotes in an active market. Inputs for Level 2 include the last trade price in the case of a halted security, an exchange-listed price which has been adjusted for fair value factors, and prices of closely related securities. Additional Level 2 inputs include an evaluated price which is based upon a compilation of observable market information such as spreads for fixed income and preferred securities. Inputs for Level 3 include, but are not limited to, revenue multiples, bookings multiples, earnings before interest, taxes, depreciation and amortization (“EBITDA”) multiples, transaction pricing, performance of comparable publicly traded securities, discount rates, time to exit and the probabilities of success of certain outcomes. Such unobservable market information may be obtained from a company’s financial statements and from industry studies, market data, and market indicators such as benchmarks and indexes. Because of the inherent uncertainty and often limited markets for restricted securities, the valuations assigned to such

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ALGER GLOBAL EQUITY FUND

NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)

securities by the Fund may significantly differ from the valuations that would have been assigned by the Fund had there been an active market for such securities.

(b) Cash: Cash includes U.S. dollars, if applicable.

(c) Securities Transactions and Investment Income: Securities transactions are recorded on a trade date basis. Realized gains and losses from securities transactions are recorded on the identified cost basis. Dividend income is recognized on the ex-dividend date and interest income is recognized on the accrual basis.

Premiums and discounts on debt securities purchased are amortized or accreted over the lives of the respective securities.

(d) Foreign Currency Transactions: The books and records of the Fund are maintained in U.S. dollars. Foreign currencies, investments, and other assets and liabilities are translated into U.S. dollars at the prevailing rates of exchange on each valuation date. Purchases and sales of investment securities and income and expenses are translated into U.S. dollars at the prevailing exchange rates on the respective dates of such transactions.

Net realized gains and losses on foreign currency transactions represent net gains and losses from the disposition of foreign currencies, currency gains and losses realized between the trade dates and settlement dates of security transactions, and the difference between the amount of net investment income accrued and the U.S. dollar amount actually received. The effects of changes in foreign currency exchange rates on investments in securities are included in realized and unrealized gain or loss on investments in the accompanying Statement of Operations.

(e) Forward Foreign Exchange Contracts: The Fund may enter into forward foreign currency contracts to hedge against foreign currency exchange rate risk on its non-U.S. dollar denominated securities or to facilitate settlement of foreign currency denominated portfolio transactions. A forward foreign currency contract is an agreement between two parties to buy and sell a currency at a set price on a future date. The contract is marked-to-market daily and the change in value is recorded by the Fund as an unrealized gain or loss. Realized gains or losses equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed are recorded upon delivery or receipt of the currency.

These contracts may involve market risk in excess of the unrealized gain or loss reflected on the Statement of Assets and Liabilities. In addition, the Fund could be exposed to risk if the counterparties are unable to meet the terms of the contracts or if the value of the currency changes unfavorably to the base currency.

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ALGER GLOBAL EQUITY FUND

NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)

(f) Dividends to Shareholders: Dividends and distributions payable to shareholders are recorded by the Fund on the ex-dividend date. The Fund declares and pays dividends from net investment income, if available, annually. Distributions from net realized gains, offset by any loss carryforward, are declared and paid annually after the end of the fiscal year in which earned. Each share class is treated separately in determining the amount of dividends from net investment income payable to holders of its shares.

The characterization of distributions to shareholders for financial reporting purposes is determined in accordance with U.S. federal income tax rules. Therefore, the source of the Fund’s distributions may be shown in the accompanying financial statements as either from, or in excess of, net investment income, net realized gain on investment transactions, or return of capital, depending on the type of book/tax differences that may exist. Capital accounts within the financial statements are adjusted for permanent book/tax differences. Reclassifications result primarily from the differences in tax treatment of net operating losses, passive foreign investment companies, and foreign currency transactions. The reclassifications are done annually at year-end and have no impact on the net asset value of the Fund and are designed to present the Fund’s capital accounts on a tax basis.

(g) Federal Income Taxes and Disclosures: It is the Fund’s policy to comply with the requirements of the U.S. Internal Revenue Code Subchapter M applicable to regulated investment companies and to distribute all of its taxable income to its shareholders. Provided that the Fund maintains such compliance, no U.S. federal income tax provision is required.

FASB Accounting Standards Codification 740 – Income Taxes (“ASC 740”) requires the Fund to measure and recognize in its financial statements the benefit of a tax position taken (or expected to be taken) on an income tax return if such position will more likely than not be sustained upon examination based on the technical merits of the position. No tax years are currently under investigation. The Fund files income tax returns in the U.S. Federal jurisdiction, as well as the New York State and New York City jurisdictions. The statute of limitations on the Fund’s tax returns remains open for the tax years 2022-2025. Alger Management does not believe there are any uncertain tax positions that require recognition of a tax liability.

The Fund adheres to FASB Accounting Standards Update 2023-09 (“ASU 2023-09”), Improvements to Income Tax Disclosures. The purpose of ASU 2023-09 is to enhance income tax disclosures by categorizing and disclosing income tax rates and income taxes paid. Alger Management has evaluated the amendment’s impact to the Fund’s financial statements and determined no disclosure is required.

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ALGER GLOBAL EQUITY FUND

NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)

(h) Allocation Methods: Income, realized and unrealized gains and losses, and expenses of the Fund are allocated among the Fund’s classes based on relative net assets, with the exception of distribution fees, transfer agency fees, and shareholder servicing and related fees.

(i) Segment Reporting: The Fund adheres to FASB Accounting Standards Update 2023-07, Segment Reporting (“Topic 280”) – Improvements to Reportable Segment Disclosures (“ASU 2023-07”). An operating segment is defined in Topic 280 as a component of a public entity that engages in business activities from which it may recognize revenues and incur expenses and, has operating results that are regularly reviewed by the public entity’s chief operating decision maker (“CODM”) to make decisions about resources to be allocated to the segment and assess its performance. The Principal Executive Officer of the Fund acts as the Fund’s CODM. The Fund represents a single operating segment. The CODM monitors the operating results of the Fund, including the Fund’s portfolio composition, total return, expense ratio, and changes in net assets. The Fund’s long-term strategic asset allocation is determined in accordance with the terms of the Fund’s prospectus, based on a defined investment strategy which is executed by the Investment Manager.

(j) Estimates: These financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America, which require using estimates and assumptions that affect the reported amounts therein. These unaudited financial statements reflect all adjustments that are, in the opinion of Alger Management, necessary to present a fair statement of results of the semi-annual period. Actual results may differ from those estimates. All such estimates are of a normal recurring nature.

NOTE 3 — Investment Advisory Fees and Other Transactions with Affiliates:

(a) Investment Advisory Fees: Fees incurred by the Fund, pursuant to the provisions of the Fund’s Investment Advisory Agreement with the Investment Manager, are payable monthly and computed based on the following actual rate. The actual rate paid as a percentage of average daily net assets, for the six months ended April 30, 2026, is set forth below under the heading “Actual Rate”:

	Tier 1	Tier 2	Actual Rate
Alger Global Equity Fund (a)	0.80 %	0.70 %	0.80 %

(a)	Tier 1 rate is paid on assets up to $500 million, Tier 2 rate is paid on assets in excess of $500 million.

The sub-adviser to the Fund, Redwood Investments, LLC (“Redwood”), an affiliate of Alger Management, is paid a sub-advisory fee from the advisory fee that Alger Management receives at no additional cost to the Fund. The sub-advisory fee is equal to 100% of the net advisory fee paid by the Fund to Alger

- 19 -

ALGER GLOBAL EQUITY FUND

NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)

Management with respect to the assets sub-advised by Redwood. For the six months ended April 30, 2026, Alger Management paid a sub-advisory fee of $0 to Redwood, given that expense reimbursement exceeded advisory fees.

Alger Management has contractually agreed to waive and/or reimburse other expenses and any other applicable share class-specific expenses (excluding acquired fund fees and expenses, dividend expense on short sales, net borrowing costs, interest, taxes, brokerage expenses, fees in connection with the ReFlow Fund, LLC liquidity program (“ReFlow”), extraordinary expenses and certain proxy expenses, to the extent applicable) through October 31, 2027 to the extent necessary to limit such expenses to the rates, listed in the table below, based on average daily net assets. For the avoidance of doubt, this agreement does not include advisory fees.

	CLASS				FEES WAIVED / REIMBURSED FOR THE SIX MONTHS ENDED APRIL 30, 2026
	A	C	I	Z
Alger Global Equity Fund	0.40 %	1.45 %	0.40 %	0.19 %	$100,850

Alger Management may recoup any fees waived or expenses reimbursed pursuant to the contract; however, the Fund will only make repayments to the Investment Manager if such repayment does not cause the Fund’s expense ratio, after the repayment is taken into account, to exceed both (i) the expense cap in place at the time such amounts were waived or reimbursed, and (ii) the Fund’s current expense cap. Such recoupment is limited to two years from the date the amount is initially waived or reimbursed. For the six months ended April 30, 2026, the Fund did not make any recoupments to the Investment Manager.

(b) Administration Fees: Fees incurred by the Fund, pursuant to the provisions of the Fund’s Fund Administration Agreement with the Investment Manager, are payable monthly and computed based on the average daily net assets of the Fund at the annual rate of 0.0275%.

Class A Shares: The Fund has adopted a Plan of Distribution pursuant to which Class A shares of the Fund pays Fred Alger & Company, LLC, the Fund’s distributor (the “Distributor” or “Alger LLC”), a fee at the annual rate of 0.25% of the respective average daily net assets of the Class A shares of the Fund to compensate Alger LLC for its activities and expenses incurred in distributing and/or shareholder servicing Class A Shares. The fees paid may be more or less than the expenses incurred by Alger LLC.

- 20 -

ALGER GLOBAL EQUITY FUND

NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)

Class C Shares: The Fund has adopted a Distribution Plan pursuant to which Class C shares of the Fund pays Alger LLC a fee at the annual rate of 1% of the respective average daily net assets of the Class C shares of the Fund to compensate Alger LLC for its activities and expenses incurred in distributing the Class C shares and/or shareholder servicing. Fees paid may be more or less than the expenses incurred by Alger LLC.

Class I Shares: The Fund has adopted a Distribution Plan pursuant to which Class I shares of the Fund issuing such shares pays Alger LLC a fee at the annual rate of 0.25% of the average daily net assets of the Fund’s Class I shares to compensate Alger LLC for its activities and expenses incurred in distributing the Class I shares and/or shareholder servicing. Fees paid may be more or less than the expenses incurred by Alger LLC.

(d) Sales Charges: Sales of shares of the Fund may be subject to contingent deferred sales charges. The contingent deferred sales charges are used by Alger LLC to offset distribution expenses previously incurred. Sales charges do not represent expenses of the Fund. For the six months ended April 30, 2026, there were no contingent deferred sales charges imposed.

(e) Brokerage Commissions: During the six months ended April 30, 2026, the Fund did not pay Alger LLC in connection with securities transactions.

(f) Shareholder Administrative Fees: The Fund has entered into a Shareholder Administrative Services Agreement with Alger Management to compensate Alger Management for liaising with, and providing administrative oversight of, the Fund’s transfer agent, and for other related services. The Fund compensates Alger Management at the annual rate of 0.0165% of the respective average daily net assets of Class A and Class C shares and 0.01% of the respective average daily net assets for the Class I and Class Z shares for these services.

Alger Management makes payments to intermediaries that provide sub-accounting services to omnibus accounts invested in the Fund. A portion of the fees paid by Alger Management to intermediaries that provide sub-accounting services are charged back to the Fund, subject to certain limitations, as approved by the Board. For the six months ended April 30, 2026, Alger Management charged back $3,533 to the Fund for these services, which are included in transfer agent fees in the accompanying Statement of Operations.

(g) Trustee Fees: Effective January 1, 2026, each trustee who is not an “interested person” of the Fund, as defined in the 1940 Act (“Independent Trustee”), receives a fee of $183,000 per annum, paid pro rata based on net assets by each fund in the Alger Fund Complex, plus travel expenses incurred for attending board meetings. The term “Alger Fund Complex” refers to the Fund, The Alger Institutional Funds, The Alger Funds, The Alger Portfolios, The Alger Funds II, The Alger ETF Trust, and Alger Next Gen Growth Fund, each of which is a registered investment company managed by Alger Management.

- 21 -

ALGER GLOBAL EQUITY FUND

NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)

The Alger Next Gen Growth Fund has not commenced operations and, accordingly, has not paid any trustee fees. The Independent Trustee appointed as Chairman of the Board receives additional compensation of $27,000 per annum paid pro rata based on net assets by each fund in the Alger Fund Complex. Additionally, each member of the Audit Committee receives a fee of $10,000 per annum, paid pro rata based on net assets by each fund in the Alger Fund Complex. Certain Independent Trustees who are members of the Nominating and Governance Committee and perform certain tasks on behalf of the Nominating and Governance Committee receive $5,000 per annum, paid pro rata based on the net assets by each fund in the Alger Fund Complex.

Prior to January 1, 2026, each Independent Trustee received a fee of $170,000 per annum, paid pro rata based on net assets by each fund in the Alger Fund Complex, plus travel expenses incurred for attending board meetings, the Chair of the Board received additional compensation of $26,000 per annum paid pro rata based on net assets by each fund in the Alger Fund Complex; and each member of the Audit Committee received a fee of $10,000 per annum, paid pro rata based on the net assets by each fund in the Alger Fund Complex; and Independent Trustees who were not members of the Audit Committee but attended Audit Committee meetings received a stipend of $10,000 per annum, paid pro rata based on the net assets by each fund in the Alger Fund Complex.

The Board has adopted a policy requiring Independent Trustees to receive a minimum of 10% of their annual compensation in shares of one or more of the funds in the Alger Fund Complex.

(h) Interfund Trades: The Fund may engage in purchase and sale transactions with other funds advised by Alger Management or sub-advised by Weatherbie Capital, LLC or Redwood, affiliates of Alger Management. For the six months ended April 30, 2026, there were no interfund trades.

(i) Interfund Loans: The Fund, along with other funds in the Alger Fund Complex, may borrow money from and lend money to each other for temporary or emergency purposes. To the extent permitted under its investment restrictions, the Fund may lend uninvested cash in an amount up to 15% of its net assets to other funds in the Alger Fund Complex. If the Fund has borrowed from other funds in the Alger Fund Complex and has aggregate borrowings from all sources that exceed 10% of the Fund’s total assets, the Fund will secure all of its loans from other funds in the Alger Fund Complex. The interest rate charged on interfund loans is equal to the average of the overnight U.S. Treasury money market rate and bank loan rate available to the Fund. There were no interfund loans outstanding as of April 30, 2026.

During the six months ended April 30, 2026, the Fund did not incur any interfund loan interest income or expense.

- 22 -

ALGER GLOBAL EQUITY FUND

NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)

(j) Other Transactions with Affiliates: Certain officers and one Trustee of the Fund are directors and/or officers of Alger Management, the Distributor, or their affiliates. At April 30, 2026, Alger Management and its affiliated entities owned the following shares:

	SHARE CLASS
	A	C	I	Z
Alger Global Equity Fund	—	—	—	16,199

NOTE 4 — Securities Transactions:

The following summarizes the securities transactions by the Fund, other than U.S. Government securities and money market securities, for the six months ended April 30, 2026:

	PURCHASES	SALES
Alger Global Equity Fund	$6,737,802	$8,985,519

NOTE 5 — Borrowings:

The Fund may borrow from Bank of New York (the “Custodian”) on an uncommitted basis. The Fund pays the Custodian a market rate of interest, generally based upon a rate of return with respect to each respective currency borrowed, taking into consideration relevant overnight and short-term reference rates. Borrowings from the Custodian at April 30, 2026, if any, are included in Bank overdraft in the Statement of Assets and Liabilities. The Fund may also borrow from other funds in the Alger Fund Complex, as discussed in Note 3(i). For the six months ended April 30, 2026, the Fund had the following borrowings from the Custodian and other funds in the Alger Fund Complex:

	AVERAGE DAILY BORROWING	WEIGHTED AVERAGE INTEREST RATE
Alger Global Equity Fund	$1,959	6.65 %

The highest amount borrowed by the Fund from the Custodian and other funds in the Alger Fund Complex during the six months ended April 30, 2026 was as follows:

	HIGHEST BORROWING
Alger Global Equity Fund	$137,579

NOTE 6 — Liquidity:

The Fund has entered into an agreement with ReFlow to participate in ReFlow’s liquidity program. Pursuant to the program and subject to certain conditions, ReFlow provides participating Funds with a source of cash to meet net shareholder redemptions by purchasing fund shares at NAV in an amount

- 23 -

ALGER GLOBAL EQUITY FUND

NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)

up to the value of the net shares redeemed from a Fund. Following the purchase of fund shares, ReFlow then generally redeems those shares when a Fund experiences net sales, or at the end of a maximum holding period determined by ReFlow (currently at eight days), or at other times at a Fund’s or ReFlow’s discretion. For the six months ended April 30, 2026, the Fund did not participate in the ReFlow program.

NOTE 7 — Share Capital:

The Fund has an unlimited number of authorized shares of beneficial interest of $.001 par value. During the six months ended April 30, 2026 and the year ended October 31, 2025, transactions of shares of beneficial interest were as follows:

	FOR THE SIX MONTHS ENDED April 30, 2026		FOR THE YEAR ENDED October 31, 2025
	SHARES	AMOUNT	SHARES	AMOUNT
Alger Global Equity Fund
Class A:
Shares sold	6,709	$187,245	18,517	$579,797
Shares converted from Class C	18	1,329	32	931
Dividends reinvested	49,650	1,321,689	82,137	2,381,981
Shares redeemed	(78,773 )	(2,261,294 )	(75,181 )	(2,226,467 )
Net (decrease) increase	(22,396 )	$(751,031 )	25,505	$736,242
Class C:
Shares sold	127	$3,040	637	$16,083
Shares converted to Class A	(18 )	(1,329 )	(36 )	(931 )
Dividends reinvested	609	14,002	1,325	33,927
Shares redeemed	(3,921 )	(98,096 )	(5,561 )	(156,992 )
Net decrease	(3,203 )	$(82,383 )	(3,635 )	$(107,913 )
Class I:
Shares sold	307	$8,336	250	$7,005
Dividends reinvested	511	13,186	844	23,800
Shares redeemed	(500 )	(13,203 )	(998 )	(28,810 )
Net increase	318	$8,319	96	$1,995
Class Z:
Shares sold	13,068	$388,734	4,822	$152,503
Dividends reinvested	8,169	230,041	13,091	398,756
Shares redeemed	(6,351 )	(191,292 )	(14,252 )	(430,538 )
Net increase	14,886	$427,483	3,661	$120,721

NOTE 8 — Income Tax Information:

The difference between book-basis and tax-basis unrealized appreciation (depreciation) is determined annually and is attributable primarily to the tax deferral of losses on wash sales, U.S. Internal Revenue Code Section 988

- 24 -

ALGER GLOBAL EQUITY FUND

NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)

currency transactions, tax treatment of partnership investments, the realization of unrealized appreciation of passive foreign investment companies, and the return of capital from real estate investment trust investments.

The Fund accrues tax on unrealized gains in foreign jurisdictions that impose a foreign capital tax, if applicable.

NOTE 9 — Fair Value Measurements:

The following is a summary of the inputs used as of April 30, 2026 in valuing the Fund’s investments carried at fair value on a recurring basis. Based upon the nature, characteristics, and risks associated with its investments, Alger Management has determined that presenting them by security type and sector is appropriate.

Alger Global Equity Fund	TOTAL	LEVEL 1	LEVEL 2	LEVEL 3
COMMON STOCKS
Communication Services	$1,524,161	$1,398,782	$125,379	$—
Consumer Discretionary	1,396,276	992,753	403,523	—
Consumer Staples	1,175,751	591,178	584,573	—
Financials	2,820,369	823,060	1,997,309	—
Health Care	2,257,487	1,984,651	272,836	—
Industrials	4,674,768	2,673,483	2,001,285	—
Information Technology	5,387,286	4,614,123	773,163	—
Materials	240,195	—	240,195	—
Utilities	310,156	310,156	—	—
TOTAL COMMON STOCKS	$19,786,449	$13,388,186	$6,398,263	$—
SHORT-TERM INVESTMENTS
Money Market Funds	647,269	647,269	—	—
TOTAL INVESTMENTS IN SECURITIES	$20,433,718	$14,035,455	$6,398,263	$—

The significant unobservable inputs used in the fair value measurement of the Fund’s securities include revenue multiples, bookings multiples, EBITDA multiples, publicly traded comparable securities’ market value and revenue multiples, transaction pricing, discount rates, and the probability of success of certain outcomes. Significant increases and decreases in these inputs in isolation and interrelationships between these inputs would have resulted in significantly higher or lower fair value measurements. Generally, all other things being equal, increases in revenue, bookings, and EBITDA multiples, decreases in discount rates, and increases in the probability of success result in higher fair value measurements, whereas decreases in revenue, bookings, and EBITDA multiples, increases in discount rates, and decreases in the probability of success result in lower fair value measurements. For the year ended October 31, 2025, and the six months ended April 30, 2026, there were no Level 3 securities.

- 25 -

ALGER GLOBAL EQUITY FUND

NOTES TO FINANCIAL STATEMENTS (Unaudited) (Continued)

NOTE 10 — Derivatives:

FASB Accounting Standards Codification 815 – Derivatives and Hedging (“ASC 815”) requires qualitative disclosures about objectives and strategies for using derivatives, quantitative disclosures about fair value amounts of and gains and losses on derivative instruments, and disclosures about credit-risk-related contingent features in derivative agreements.

There were no derivative instruments held by the Fund throughout the six months or as of April 30, 2026.

NOTE 11 — Principal Risks:

Investing in the stock market involves risks, including the potential loss of principal. The value of these securities, like other investments, may move up or down, sometimes rapidly and unpredictably. Fund shares at any point in time may be worth less than what was invested, even after taking into account the reinvestment of Fund dividends and distributions. Growth stocks may be more volatile than other stocks as their prices tend to be higher in relation to their companies’ earnings and may be more sensitive to market, political, and economic developments. A significant portion of assets may be invested in securities of companies in related sectors, and may be similarly affected by economic, political, or market events and conditions and may be more vulnerable to unfavorable sector developments. Assets may be focused in a small number of holdings, making them susceptible to risks associated with a single economic, political or regulatory event than a more diversified portfolio. Foreign securities, Frontier Markets, and Emerging Markets involve special risks including currency fluctuations, inefficient trading, political and economic instability, and increased volatility. Investing in companies of small capitalizations involves the risk that such issuers may have limited product lines or financial resources, lack management depth, or have limited liquidity. At times, cash may be a larger position in the portfolio and may underperform relative to equity securities.

NOTE 12 — Subsequent Events:

Alger Management has evaluated events that have occurred subsequent to April 30, 2026, through the issuance date of the Financial Statements. No material events have been identified which require recognition and/or disclosure.

- 26 -

ALGER GLOBAL EQUITY FUND

OTHER INFORMATION (Unaudited)

Proxy Voting Policies

A description of the policies and procedures the Fund uses to determine how to vote proxies relating to portfolio securities and the proxy voting record is available, without charge, by calling (800) 992-3863 or online on the Fund’s website at http://www.alger.com or on the SEC’s website at http://www.sec.gov.

Fund Holdings

The Board has adopted policies and procedures relating to disclosure of the Fund’s portfolio securities. These policies and procedures recognize that there may be legitimate business reasons for holdings to be disclosed and seek to balance those interests to protect the proprietary nature of the trading strategies and implementation thereof by the Fund.

Generally, the policies prohibit the release of information concerning portfolio holdings, which have not previously been made public, to individual investors, institutional investors, intermediaries that distribute the Fund’s shares and other parties which are not employed by the Investment Manager or its affiliates except when the legitimate business purposes for selective disclosure and other conditions (designed to protect the Fund) are acceptable.

The Fund files its complete schedule of portfolio holdings with the SEC semi-annually in financial statements on Form N-CSR and after the first and third fiscal quarters as an exhibit to its reports on Form N-PORT. The Fund’s Forms N-CSR and N-PORT are available online on the SEC’s website at www.sec.gov.

In addition, the Fund makes publicly available its month-end top 10 holdings with a 10 day lag and its month-end full portfolio with a 60 day lag on its website www.alger.com and through other marketing communications (including printed advertising/sales literature and/or shareholder telephone customer service centers). No compensation or other consideration is received for the non-public disclosure of portfolio holdings information.

In accordance with the foregoing, the Fund provides portfolio holdings information to third parties including financial intermediaries and service providers who need access to this information in the performance of their services and are subject to duties of confidentiality (1) imposed by law, including a duty not to trade on non-public information, and/or (2) pursuant to an agreement that confidential information is not to be disclosed or used (including trading on such information) other than as required by law. From time to time, the Fund will communicate with these third parties to confirm that they understand the Fund’s policies and procedures regarding such disclosure. These agreements must be approved by the Fund’s Chief Compliance Officer.

The Board periodically reviews a report disclosing the third parties to whom the Fund’s holdings information has been disclosed and the purpose for such

- 27 -

ITEM 12. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

ITEM 14. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS.

ITEM 17. DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

	SHARES	VALUE
COMMON STOCKS—96.9%
BELGIUM—1.3%
PHARMACEUTICALS—1.3%
UCB SA	1,002	$ 272,836
(Cost $300,992)
BRAZIL—3.1%
BROADLINE RETAIL—1.1%
MercadoLibre, Inc. *	125	224,079
DIVERSIFIED BANKS—2.0%
NU Holdings Ltd., Cl. A *	28,795	416,951


TOTAL BRAZIL (Cost $429,172)		641,030
CANADA—3.3%
APPLICATION SOFTWARE—1.6%
The Descartes Systems Group, Inc. *	4,500	324,495
INTERNET SERVICES & INFRASTRUCTURE—1.7%
Shopify, Inc., Cl. A *	2,939	356,743


TOTAL CANADA (Cost $595,393)		681,238
DENMARK—3.2%
BIOTECHNOLOGY—3.2%
Ascendis Pharma A/S *	2,842	651,898
(Cost $597,879)
GERMANY—3.9%
AEROSPACE & DEFENSE—3.9%
MTU Aero Engines AG	819	280,881
Rheinmetall AG	318	507,150
(Cost $980,771)		788,031
ITALY—2.5%
DIVERSIFIED BANKS—2.5%
FinecoBank SpA	20,854	517,714
(Cost $429,110)
JAPAN—7.3%
DIVERSIFIED BANKS—2.1%
Mizuho Financial Group, Inc.	9,926	426,845
INDUSTRIAL CONGLOMERATES—3.4%
Hitachi Ltd.	22,010	699,882
INDUSTRIAL GASES—1.2%
Nippon Sanso Holdings Corp.	6,813	240,195

	SHARES	VALUE
COMMON STOCKS—96.9% (CONT.)
JAPAN—7.3% (CONT.)
INTERACTIVE HOME ENTERTAINMENT—0.6%
Nintendo Co., Ltd.	2,563	$ 125,379


TOTAL JAPAN (Cost $1,077,455)		1,492,301
NETHERLANDS—3.4%
BROADLINE RETAIL—2.0%
Prosus NV, Cl. N *	8,335	403,523
SYSTEMS SOFTWARE—1.4%
Nebius Group NV, Cl. A *	2,023	279,639


TOTAL NETHERLANDS (Cost $740,435)		683,162
NORWAY—2.5%
AEROSPACE & DEFENSE—2.5%
Kongsberg Gruppen ASA	15,486	518,167
(Cost $478,762)
SOUTH KOREA—6.3%
HEAVY ELECTRICAL EQUIPMENT—2.5%
HD Hyundai Electric Co., Ltd.	597	513,372
SEMICONDUCTORS—3.8%
SK hynix, Inc.	867	773,163


TOTAL SOUTH KOREA (Cost $875,701)		1,286,535
SPAIN—2.0%
DIVERSIFIED BANKS—2.0%
CaixaBank SA	31,764	404,304
(Cost $394,675)
TAIWAN—3.9%
SEMICONDUCTORS—3.9%
Taiwan Semiconductor Manufacturing Co., Ltd. ADR	2,014	797,665
(Cost $230,776)
UNITED KINGDOM—6.1%
DIVERSIFIED BANKS—3.2%
HSBC Holdings PLC	35,242	648,446
SOFT DRINKS & NON-ALCOHOLIC BEVERAGES—2.9%
Coca-Cola HBC AG *	10,022	584,573


TOTAL UNITED KINGDOM (Cost $822,157)		1,233,019
UNITED STATES—48.1%
AEROSPACE & DEFENSE—5.4%
BWX Technologies, Inc.	3,266	706,730

	SHARES	VALUE
COMMON STOCKS—96.9% (CONT.)
UNITED STATES—48.1% (CONT.)
AEROSPACE & DEFENSE—5.4% (CONT.)
FTAI Aviation Ltd.	1,623	$ 405,214
(Cost $994,930)		1,111,944
BROADLINE RETAIL—3.8%
Amazon.com, Inc. *	2,900	768,674
CONSUMER STAPLES MERCHANDISE RETAIL—2.9%
Walmart, Inc.	4,481	591,178
HEALTH CARE DISTRIBUTORS—2.6%
Cardinal Health, Inc.	2,698	520,390
HEALTHCARE EQUIPMENT—2.1%
Intuitive Surgical, Inc. *	934	427,408
HEALTHCARE FACILITIES—1.9%
The Ensign Group, Inc.	2,062	384,955
HEAVY ELECTRICAL EQUIPMENT—5.1%
GE Vernova, Inc.	963	1,043,372
INDEPENDENT POWER PRODUCERS & ENERGY TRADERS—1.5%
Vistra Corp.	1,965	310,156
INTERACTIVE HOME ENTERTAINMENT—1.4%
Take-Two Interactive Software, Inc. *	1,378	294,561
INTERACTIVE MEDIA & SERVICES—2.7%
Meta Platforms, Inc., Cl. A	896	548,271
INTERNET SERVICES & INFRASTRUCTURE—0.8%
MongoDB, Inc., Cl. A *	655	164,294
MOVIES & ENTERTAINMENT—2.7%
Netflix, Inc. *	5,939	555,950
REGIONAL BANKS—2.0%
Axos Financial, Inc. *	4,211	406,109
SEMICONDUCTORS—13.2%
Analog Devices, Inc.	1,643	660,913
Broadcom, Inc.	1,994	832,355
NVIDIA Corp.	6,003	1,198,019
(Cost $1,453,025)		2,691,287


TOTAL UNITED STATES (Cost $7,242,573)		9,818,549
TOTAL COMMON STOCKS (Cost $15,195,851)		19,786,449


MONEY MARKET FUNDS—3.2%
UNITED STATES—3.2%
Dreyfus Treasury Obligations Cash Management Fund, Institutional Shares, 3.53%(a)	647,269	647,269
(Cost $647,269)		647,269


Total Investments (Cost $15,843,120)	100.1%	$20,433,718
Unaffiliated Securities (Cost $15,843,120)		20,433,718
Liabilities in Excess of Other Assets	(0.1)%	(26,454)
NET ASSETS	100.0%	$20,407,264

	Alger Global Equity Fund
ASSETS:
Investments in unaffiliated securities, at value (Identified cost below)* see accompanying schedule of investments	$20,433,718
Foreign cash †	16,427
Receivable for shares of beneficial interest sold	585
Dividends and interest receivable	38,749
Receivable from Investment Manager	18,656
Prepaid expenses	5,075
Total Assets	20,513,210
LIABILITIES:
Accrued investment advisory fees	13,137
Accrued distribution fees — Note 3	3,416
Accrued shareholder administrative fees	250
Accrued administrative fees	452
Accrued professional fees	70,420
Accrued fund accounting fees	9,038
Accrued printing fees	4,645
Accrued transfer agent fees	3,484
Accrued custodian fees	566
Accrued trustee fees	167
Accrued other expenses	371
Total Liabilities	105,946
NET ASSETS	$20,407,264
NET ASSETS CONSIST OF:
Paid in capital (par value of $.001 per share)	14,498,629
Distributable earnings	5,908,635
NET ASSETS	$20,407,264
* Identified cost on unaffiliated securities	$15,843,120 (a)
† Cost of foreign cash	$16,404

Schedule of Investments	2
Statement of Assets and Liabilities	6
Statement of Operations	8
Statements of Changes in Net Assets	9
Financial Highlights	10
Notes to Financial Statements	14
Other Information	27

(a)	Rate shown reflects 7-day effective yield as of April 30, 2026.
*	Non-income producing security.

	Alger Global Equity Fund
NET ASSETS BY CLASS:
Class A	$16,326,194
Class C	$107,015
Class I	$159,463
Class Z	$3,814,592
SHARES OF BENEFICIAL INTEREST OUTSTANDING — Note 7:
Class A	558,156
Class C	4,251
Class I	5,624
Class Z	123,202
NET ASSET VALUE PER SHARE:
Class A	$29.25
Class A - Offering Price Per Share (includes a 5.25% sales charge)	$30.87
Class C	$25.17
Class I	$28.35
Class Z	$30.96

	Alger Global Equity Fund
INCOME:
Dividends (net of foreign withholding taxes*)	$184,092
Interest	4,951
Total Income	189,043
EXPENSES:
Investment advisory fees — Note 3	80,069
Distribution fees — Note 3
Class A	20,330
Class C	702
Class I	191
Shareholder administrative fees — Note 3	1,534
Administration fees — Note 3	2,752
Registration fees	38,819
Professional fees	36,696
Fund accounting fees — Note 3	13,563
Transfer agent fees — Note 3	6,571
Printing fees	4,846
Custodian fees	1,310
Trustee fees — Note 3	624
Interest expense — Note 3	156
Other expenses	10,051
Total Expenses	218,214
Less, expense reimbursements/waivers — Note 3	(100,850 )
Net Expenses	117,364
NET INVESTMENT INCOME	71,679
REALIZED AND UNREALIZED GAIN ON INVESTMENTS AND FOREIGN CURRENCY:
Net realized gain on unaffiliated investments	1,251,247
Net realized gain on foreign currency transactions	689
Net realized gain on investments and foreign currency	1,251,936
Net change in unrealized (depreciation) on unaffiliated investments	(861,684 )
Net change in unrealized appreciation on foreign currency	1,301
Net change in unrealized (depreciation) on investments and foreign currency	(860,383 )
Net realized and unrealized gain on investments and foreign currency	391,553
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS	$463,232
* Foreign withholding taxes	$7,014

	Alger Global Equity Fund
	For the Six Months Ended April 30, 2026	For the Year Ended October 31, 2025
Net investment income (loss)	$71,679	$(48,902 )
Net realized gain on investments and foreign currency	1,251,936	1,928,897
Net change in unrealized appreciation (depreciation) on investments and foreign currency	(860,383 )	895,942
Net increase in net assets resulting from operations	463,232	2,775,937
Dividends and distributions to shareholders:
Class A	(1,386,962 )	(2,544,458 )
Class C	(14,002 )	(33,927 )
Class I	(13,187 )	(23,800 )
Class Z	(274,544 )	(478,640 )
Total dividends and distributions to shareholders	(1,688,695 )	(3,080,825 )
Increase (decrease) from shares of beneficial interest transactions:
Class A	(751,031 )	736,242
Class C	(82,383 )	(107,913 )
Class I	8,319	1,995
Class Z	427,483	120,721
Net increase (decrease) from shares of beneficial interest transactions — Note 7	(397,612 )	751,045
Total increase (decrease)	(1,623,075 )	446,157
Net Assets:
Beginning of period	22,030,339	21,584,182
END OF PERIOD	$20,407,264	$22,030,339

By:	/s/ Hal Liebes
Name:	Hal Liebes
Title:	Principal Executive Officer
Date:	June 18, 2026

By:	/s/ Michael D. Martins
Name:	Michael D. Martins
Title:	Principal Financial Officer
Date:	June 18, 2026