TEFQX Portfolio

Firsthand Technology Opportunities Fund

Complete Portfolio

As of March 31, 2020

Security Market Value % Assets
Roku, Inc. $ 20,995,200 11.40%
Chegg, Inc. $ 12,165,200 6.61%
Twilio, Inc. $ 8,949,000 4.86%
Cree, Inc. $ 7,446,600 4.04%
Nutanix, Inc. $ 7,110,000 3.86%
Zscaler, Inc. $ 6,086,000 3.31%
Netflix, Inc. $ 5,632,500 3.06%
II-VI Incorporated $ 4,560,000 2.48%
Kratos Defense & Security Solutions, Inc. $ 3,321,600 1.80%
Slack Technologies, Inc. $ 3,220,800 1.75%
Adobe Systems, Inc. $ 3,182,400 1.73%
Arista Networks, Inc. $ 3,038,250 1.65%
Coupa Software, Inc. $ 2,794,600 1.52%
NVIDIA Corp. $ 2,636,000 1.43%
Workday, Inc. $ 2,604,400 1.41%
Zendesk, Inc. $ 2,560,400 1.39%
Splunk, Inc. $ 2,524,600 1.37%
SolarEdge Technologies, Inc. $ 2,456,400 1.33%
Invesco QQQ Trust April 17 212 Put $ 2,269,000 1.23%
Proofpoint, Inc. $ 2,051,800 1.11%
Domo, Inc. $ 1,988,000 1.08%
SPDR S&P 500 ETF Trust April 13 275 Put $ 1,883,000 1.02%
Guidewire Software, Inc. $ 1,784,475 0.97%
Revasum, Inc. $ 1,706,521 0.93%
Palo Alto Networks, Inc. $ 1,639,600 0.89%
Enphase Energy, Inc. $ 1,614,500 0.88%
ViaSat, Inc. $ 1,436,800 0.78%
MongoDB,Inc. $ 1,365,400 0.74%
Okta, Inc. $ 1,222,600 0.66%
PayPal Holdings, Inc. $ 957,400 0.52%
DocuSign, Inc. $ 924,000 0.50%
GW Pharmaceuticals plc $ 875,700 0.48%
Square, Inc. $ 523,800 0.28%
2U, Inc. $ 424,400 0.23%
Bill.com Holdings, Inc. $ 342,000 0.19%
ON Semiconductor Corp. $ 124,400 0.07%
Net 1 UEPS Technologies, Inc. $ 87,300 0.05%
Pivotal Systems Corp. $ 29,217 0.02%
SPY200331P00255000 $ 6,000 0.00%
SPY200331P00250000 $ 2,000 0.00%
SPY200331P00235000 $ 1,000 0.00%
CASH $ 59,574,182 32.36%
TOTAL: $ 184,117,046 100.00%

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.