ALTEX Portfolio

Firsthand Alternative Energy Fund

Complete Portfolio

As of September 30, 2017

Security Market Value % Assets
Itron, Inc. $ 431,009 7.32%
Power Integrations, Inc. $ 424,487 7.21%
First Solar, Inc. $ 321,160 5.45%
SolarEdge Technologies, Inc. $ 314,050 5.33%
Vestas Wind Systems A/S $ 271,050 4.60%
TerraForm Power, Inc. $ 264,400 4.49%
Koninklijke (Royal) Philips Electronics N.V. $ 237,724 4.04%
Cree, Inc. $ 225,520 3.83%
Honeywell International, Inc. $ 223,949 3.80%
3M Co. $ 209,900 3.56%
Tesla Motors, Inc. $ 204,660 3.48%
Praxair, Inc. $ 195,636 3.32%
Corning, Inc. $ 193,283 3.28%
Quanta Services, Inc. $ 186,850 3.17%
United Technologies Corp. $ 174,120 2.96%
ABB Ltd. $ 173,250 2.94%
Ulvac, Inc. $ 169,642 2.88%
Iberdrola S.A. $ 159,398 2.71%
Aspen Aerogels, Inc. $ 152,250 2.59%
Covanta Holding Corp. $ 148,500 2.52%
SunPower Corp. - Class B $ 145,297 2.47%
Intevac, Inc. $ 133,510 2.27%
JA Solar Holdings Co Ltd. $ 99,060 1.68%
Gamesa Corporacion Tecnologica, S.A. $ 94,916 1.61%
Silver Spring Networks, Inc. $ 80,850 1.37%
Amtech Systems, Inc. $ 79,068 1.34%
Advanced Emissions Solutions, Inc $ 74,596 1.27%
Motech Industries, Inc. $ 43,852 0.74%
Vivint Solar, Inc. $ 40,800 0.69%
Sharp Corp. $ 33,188 0.56%
Sunrun, Inc. $ 27,750 0.47%
Orion Energy Systems, Inc. $ 15,680 0.27%
AdvanSix, Inc. $ 3,299 0.06%
*Silicon Genesis Corp.- Common Stock $ 3,048 0.05%
*Silicon Genesis Corp.- Series 1-E $ 1,049 0.02%
Sunedison, Inc. $ 412 0.01%
*Silicon Genesis Corp. - Series 1-C $ 129 0.00%
Cash $ 330,720 5.62%
TOTAL: $ 5,888,063 100.00%
* Indicates private company.

The information provided should not be considered a recommendation to purchase or sell a particular security and there is no assurance that, as of the date of publication, the securities purchased remain in the Fund's portfolio or that securities sold have not been repurchased. Also, you should note that the securities discussed, even if they have been purchased by the Fund, do not represent the Fund's entire portfolio and, in the aggregate, may represent only a small percentage of the Fund's holdings. There can be no assurance that any Firsthand Fund will buy, sell, or hold any particular security after the date referred to in the discussion.

Private companies with valuations of zero have been omitted.

Note: Cash figure is net of receivables and payables.