Firsthand Alternative Energy Fund
| Average Annual Total Returns vs. Indices | |||
|---|---|---|---|
| As of JUNE 30, 2026 | |||
| Period | Firsthand Alternative Energy Fund |
WilderHill Clean Energy Index | S&P 500 Index |
| Since inception (10/29/07) | 3.68% | -5.45% | 10.95% |
| 10-Year | 14.31% | 8.11% | 15.51% |
| 5-Year | 6.15% | -15.36% | 13.41% |
| 3-Year | 18.20% | -0.19% | 20.61% |
| 1-Year | 95.52% | 98.79% | 22.32% |
| Q2 '26 (not annualized) | 39.22% | 24.54% | 15.20% |
| Monthly Performance Update | |||
|---|---|---|---|
| As of JULY 31, 2026 | |||
| Period | Firsthand Alternative Energy Fund |
||
| Since inception (10/29/07) | 2.39% | ||
| 10-Year | 11.29% | ||
| 5-Year | 2.20% | ||
| 3-Year | 8.05% | ||
| 1-Year | 38.97% | ||
| 1-Month | -20.58% | ||
The Fund's performance information assumes reinvestment of all dividends and includes all Fund expenses, but does not reflect the impact of taxes. Performance data quoted represent past performance, which is not a guarantee of future results, and current performance may be lower or higher than the performance quoted. Both the return from and the principal value of an investment in the Fund will fluctuate so that any investor's shares, when redeemed, may be worth more or less than their original cost. To obtain performance as of the most recent month-end, please contact Firsthand Funds by calling 1.888.884.2675 or go to www.firsthandfunds.com.
The Fund's total gross operating expenses are 2.11%. The Fund's total net operating expenses are 2.01%. Under the Investment Advisory Agreement, the Investment Adviser has agreed to reduce its fees and/or make expense reimbursements so that the Fund's total annual operating expenses (excluding independent trustees' compensation, brokerage and commission expenses, short sale expenses, litigation costs and any extraordinary and non-recurring expenses) are limited to 1.98% of the Fund's average daily net assets up to $200 million, 1.93% of such assets from $200 million to $500 million, 1.88% of such assets from $500 million to $1 billion, and 1.83% of such assets in excess of $1 billion. The current expense waiver is in effect until 4/30/27.
Growth of a Hypothetical $10,000 Investment
October 29, 2007 through June 30, 2026
Chart represents the growth of a hypothetical $10,000 investment from Firsthand Alternative Energy Fund inception date until the end of the quarter indicated. Firsthand Alternative Energy Fund performance assumes reinvestment of all dividends and includes all Fund expenses but does not reflect the impact of taxes.
Q2'26 Contributors to Performance
The largest contributor to the Fund’s performance in Q2 was Bloom Energy (BE). The solid oxide fuel cell provider’s stock more than doubled in the second quarter, boosted by the company’s connection to the AI data center buildout as well as oil supply concerns related to the Iran war. In April, Bloom reported record revenues of $751 million Q1, an increase of 130% from the same period a year ago, and raised its full-year 2026 revenue guidance.
Leading fiber optic cable manufacturer Corning Inc. (GLW) was the second largest contributor to Fund performance in Q2. Corning reported solid financial results in April for its fiscal first quarter, and specifically noted opportunities in partnerships with hyperscale vendors, including Meta, Amazon, and NVIDIA.
Buoyed by the excitement around AI infrastructure in general and memory chips more specifically, Axcelis Technologies (ACLS) was the third largest contributor to Fund performance in Q2. The semiconductor manufacturing equipment supplier posted revenue and earnings results that surpassed analysts’ expectations for Q1, and the company’s stock more than doubled in Q2.
Q2'26 Detractors from Performance
Shares of Honeywell Technologies (HON) slid in Q2 and were the largest detractor from fund performance during the quarter. The company’s Q1 earnings beat analysts’ expectations, but revenues came in below Wall Street estimates. In June, Honeywell announced the spinout of its Aerospace business, and completed the transition prior to the end of the quarter.
SunPower (SPWR) shares continued their slide in Q2. SunPower, not to be confused with a predecessor entity with the same name and ticker symbol, was created by the acquisition of “old” SunPower’s assets by Complete Solaria. Complete Solaria later changed its name to SunPower in 2025. During Q2 the company issued a “going concern” warning in connection with its fiscal Q1 financial report, in which it announced Q1 revenues that fell 9% short of its earlier guidance. The company also executed a highly dilutive restructuring of its debt obligations.
The third largest detractor from the Fund’s performance for the quarter was Oklo (OKLO). The nuclear technology company is a pre-revenue company; its first commercial powerhouse is not expected to be operational until late 2027 or 2028. During Q2, Oklo announced a larger net loss for Q1 than in the year-ago period, as well as a $1 billion at-the-market stock offering.
Firsthand Alternative Energy Fund is subject to greater risk than more diversified funds because of its investments in fewer securities and because of its concentration of investments in the alternative energy and energy technology sectors. Specific risks associated with these investments could cause the Fund's share price to fluctuate dramatically. The Fund's investments in small-cap companies present greater risk than investments in larger companies. The Fund invests in several industries within the alternative energy and energy technology sectors and the relative weightings of these industries in the Fund's portfolio may change at any time. Equity investing involves risks, including the potential loss of the principal amount invested.
The Standard & Poor's 500 Index (S&P 500) represents an unmanaged, broad-based basket of stocks and is typically used as a benchmark for overall market performance. The WilderHill Clean Energy Index is a market-weighted index of companies in the cleaner fuel, energy conversion, energy storage, greener utilities, power delivery and conservation, and renewable energy harvesting sectors. The indices' performance figures assume the reinvestment of all dividends (except where noted), but do not reflect the impact of taxes. Additionally, because an investor cannot invest in an index directly, indices' performance figures do not reflect the expenses associated with the management of an actual mutual fund portfolio.
As of 6/30/26: BE (8.8% of TEFQX), ROKU (16.1% of TEFQX), RKLB (11.9% of TEFQX), BKSY (1.1% of TEFQX), LUNR (1.3% of TEFQX), PLTR (3.0% of TEFQX).
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 a 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 a Fund, do not represent a Fund's entire portfolio and, in the aggregate, may represent only a small percentage of that Fund's holdings. There can be no assurance that any Firsthand Funds will buy, sell, or hold any particular security after the date referred to in the discussion.