ALTEX Portfolio

Firsthand Alternative Energy Fund

Complete Portfolio

As of December 31, 2019

Security Market Value % Assets
SolarEdge Technologies, Inc. $ 665,630 10.81%
Power Integrations, Inc. $ 573,579 9.31%
Itron, Inc. $ 467,182 7.59%
Cree, Inc. $ 369,200 6.00%
Vestas Wind Systems A.S. $ 302,160 4.91%
Koninklijke (Royal) Philips Electronics N.V. $ 281,576 4.57%
First Solar, Inc. $ 279,800 4.54%
Honeywell International, Inc. $ 279,660 4.54%
Aspen Aerogels, Inc. $ 271,600 4.41%
Iberdrola S.A. $ 232,265 3.77%
United Technologies Corp. $ 224,640 3.65%
Quanta Services, Inc. $ 203,550 3.31%
Linde plc $ 191,610 3.11%
Corning, Inc. $ 188,051 3.05%
3M Co. $ 176,420 2.87%
ABB, Ltd. -- SP ADR. $ 168,630 2.74%
SunPower Corp. $ 155,462 2.52%
Covanta Holding Corp. $ 148,400 2.41%
Enphase Energy, Inc. $ 130,650 2.12%
Gamesa Corporacion Tecnologica, S.A. $ 127,518 2.07%
ULVAC $ 107,970 1.75%
GW Pharmaceuticals plc $ 104,560 1.70%
Vivint Solar, Inc. $ 87,120 1.41%
Advanced Emissions Solutions, Inc $ 71,400 1.16%
Sunrun, Inc. $ 69,050 1.12%
Curaleaf Holdings, Inc. $ 63,100 1.02%
Amtech Systems, Inc. $ 47,256 0.77%
Orion Energy Systems, Inc. $ 46,900 0.76%
Intevac, Inc. $ 40,948 0.66%
Sharp Corp. $ 17,059 0.28%
Motech Industries, Inc. $ 15,788 0.26%
Resdio Technologies, Inc. $ 3,138 0.05%
Garrett Motion Inc. $ 1,578 0.03%
Silicon Genesis Corp.* $ 501 0.01%
GrowLife, Inc. $ 3 0.00%
CASH $ 43,784 0.71%
TOTAL: $6,157,737 100.00%
* 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.