TEFQX Portfolio

Firsthand Technology Opportunities Fund

Complete Portfolio

As of September 30, 2017

Security Market Value % Assets
Arista Networks, Inc. $ 13,272,700 13.07%
Tencent Holdings Limited $ 10,544,447 10.38%
Facebook, Inc. $ 7,689,150 7.57%
Alibaba Group Holding Limited $ 6,908,400 6.80%
Netflix, Inc. $ 6,347,250 6.25%
Nutanix, Inc. $ 5,597,500 5.51%
Amazon.com, Inc. $ 4,806,750 4.73%
Equinix, Inc. $ 4,475,050 4.41%
Alphabet, Inc. $ 4,331,341 4.27%
Workday, Inc. $ 4,215,600 4.15%
Baidu.com, Inc. $ 3,715,350 3.66%
Tesla Motors, Inc. $ 3,411,000 3.36%
Palo Alto Networks, Inc. $ 2,882,000 2.84%
Adobe Systems, Inc. $ 2,237,700 2.20%
Ambarella, Inc. $ 1,960,400 1.93%
PayPal Holdings, Inc. $ 1,920,900 1.89%
Sina Corp. $ 1,719,750 1.69%
Pure Storage, Inc. $ 1,599,000 1.57%
Pandora Media, Inc $ 1,540,000 1.52%
Twitter, Inc. $ 1,349,600 1.33%
SoftBank Group Corp. $ 1,219,800 1.20%
Twilio, Inc. $ 1,194,000 1.18%
MaxLinear, Inc. $ 1,187,500 1.17%
Illinois Tool Works, Inc. $ 739,800 0.73%
Fitbit, Inc. $ 696,000 0.69%
Apple, Inc. $ 693,540 0.68%
Gogo Inc. $ 590,500 0.58%
Guidewire Software, Inc. $ 389,300 0.38%
Weibo Corporation $ 296,820 0.29%
Cash $ 4,010,814 3.95%
TOTAL: $ 101,541,961 100.00%

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.