# EDGAR Filing Document

**Accession Number:** 0000732847
**File Stem:** 0000732847-26-000001
**Filing Date:** 2026-2
**Character Count:** 12624
**Document Hash:** 695be3d7c9e83892d1d89cf010cf2d94
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000732847-26-000001.hdr.sgml**: 20260212

**ACCESSION NUMBER**: 0000732847-26-000001

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260212

**DATE AS OF CHANGE**: 20260211

**EFFECTIVENESS DATE**: 20260212

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FIRST WILSHIRE SECURITIES MANAGEMENT INC
- **CENTRAL INDEX KEY:** 0000732847

**ORGANIZATION NAME:**
- **EIN:** 952844956
- **STATE OF INCORPORATION:** CA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-00983
- **FILM NUMBER:** 26622750

**BUSINESS ADDRESS:**
- **STREET 1:** 1214 EAST GREEN STREET, SUITE 104
- **CITY:** PASADENA
- **STATE:** CA
- **ZIP:** 91106-3171
- **BUSINESS PHONE:** (626) 796-6622

**MAIL ADDRESS:**
- **STREET 1:** 1214 EAST GREEN STREET, SUITE 104
- **CITY:** PASADENA
- **STATE:** CA
- **ZIP:** 91106-3171

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FIRST WILSHIRE SECURITIES MANAGEMENT INC /CA
- **DATE OF NAME CHANGE:** 20010411

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** FIRST WILSHIRE SECURITIES MANAGEMENT INC<br>**Address:** 1214 EAST GREEN STREET SUITE 104<br>PASADENA, CA 91106-3171

**Form 13F File Number:** 028-00983

**CRD Number (if applicable):** 000171971

**SEC File Number (if applicable):** 801-15260

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Howard Lu<br>**Title:** Chief Executive Officer<br>**Phone:** 6267966622

**Signature, Place, and Date of Signing:**

Howard Lu  Pasadena, CA  02-11-2026<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 87

**Form 13F Information Table Value Total:** $397537887

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| ALIBABA GROUP HLDG LTD | SPONSORED ADS | 01609W102 |  | 564040 | 3848 | SH |  | SOLE |  | 3848 | 0 | 0 |
| CUSTOMERS BANCORP INC | COM | 23204G100 |  | 358288 | 4900 | SH |  | SOLE |  | 4900 | 0 | 0 |
| ECOVYST INC | COM | 27923Q109 |  | 21162108 | 2174934 | SH |  | SOLE |  | 2064710 | 0 | 110224 |
| IMAX CORP | COM | 45245E109 |  | 5452709 | 147530 | SH |  | SOLE |  | 138247 | 0 | 9283 |
| WEDBUSH SER TR | DAN IVES WEDBUSH | 947913109 |  | 363515 | 11500 | SH |  | SOLE |  | 11500 | 0 | 0 |
| LUXFER HLDGS PLC | SHS | G5698W116 |  | 4596412 | 339720 | SH |  | SOLE |  | 315958 | 0 | 23762 |
| VANECK ETF TRU | ST PREFERRED SECURT | 92189F429 |  | 181845 | 10297 | SH |  | SOLE |  | 10297 | 0 | 0 |
| POSTAL REALTY TRU | ST INC CL A | 73757R102 |  | 259531 | 16080 | SH |  | SOLE |  | 16080 | 0 | 0 |
| SCHWAB STRATEGIC TR | US DIVIDEND EQ | 808524797 |  | 1203491 | 43875 | SH |  | SOLE |  | 43875 | 0 | 0 |
| ISHARES TR | 0-3 MNTH TREASRY | 46436E718 |  | 38548387 | 384024 | SH |  | SOLE |  | 356246 | 0 | 27778 |
| SHELL PLC | SPON ADS | 780259305 |  | 707980 | 9635 | SH |  | SOLE |  | 9635 | 0 | 0 |
| APPLE INC | COM | 037833100 |  | 233800 | 860 | SH |  | SOLE |  | 860 | 0 | 0 |
| AMAZON | COM INC COM | 023135106 |  | 625291 | 2709 | SH |  | SOLE |  | 2709 | 0 | 0 |
| ANDERSONS INC | COM | 034164103 |  | 5039878 | 94788 | SH |  | SOLE |  | 86775 | 0 | 8013 |
| AVIAT NETWORKS INC | COM NEW | 05366Y201 |  | 11208059 | 524231 | SH |  | SOLE |  | 498745 | 0 | 25486 |
| CAMTEK LTD | ORD | M20791105 |  | 11098165 | 104360 | SH |  | SOLE |  | 98117 | 0 | 6243 |
| CHECK POINT SOFTWARE TECH LT | ORD | M22465104 |  | 800506 | 4314 | SH |  | SOLE |  | 4314 | 0 | 0 |
| CERAGON NETWORKS LTD | ORD | M22013102 |  | 8638963 | 4113792 | SH |  | SOLE |  | 3922973 | 0 | 190819 |
| CISCO SYS INC | COM | 17275R102 |  | 591205 | 7675 | SH |  | SOLE |  | 7675 | 0 | 0 |
| EAST WEST BANCORP INC | COM | 27579R104 |  | 5190957 | 46187 | SH |  | SOLE |  | 44227 | 0 | 1960 |
| EZCORP INC | CL A NON VTG | 302301106 |  | 33771399 | 1739001 | SH |  | SOLE |  | 1647241 | 0 | 91760 |
| GULF IS FABRICATION INC | COM | 402307102 |  | 12097995 | 1010693 | SH |  | SOLE |  | 976368 | 0 | 34325 |
| GILAT SATELLITE NETWORKS LTD | SHS NEW | M51474118 |  | 12095109 | 934707 | SH |  | SOLE |  | 877942 | 0 | 56765 |
| ALPHABET INC CAP STK | CL A | 02079K305 |  | 553071 | 1767 | SH |  | SOLE |  | 1767 | 0 | 0 |
| INNOSPEC INC | COM | 45768S105 |  | 7697934 | 100574 | SH |  | SOLE |  | 97715 | 0 | 2859 |
| LIBERTY GLOBAL LTD | COM CL A | G61188101 |  | 25704436 | 2307400 | SH |  | SOLE |  | 2204852 | 0 | 102548 |
| LIBERTY GLOBAL LTD | COM CL C | G61188127 |  | 4725065 | 427995 | SH |  | SOLE |  | 403695 | 0 | 24300 |
| LIMONEIRA CO | COM | 532746104 |  | 3284861 | 260187 | SH |  | SOLE |  | 248154 | 0 | 12033 |
| MICROSOFT CORP | COM | 594918104 |  | 1934480 | 4000 | SH |  | SOLE |  | 4000 | 0 | 0 |
| MATRIX SVC CO | COM | 576853105 |  | 7172299 | 613017 | SH |  | SOLE |  | 581839 | 0 | 31178 |
| NWPX INFRASTRUCTURE INC | COM | 667746101 |  | 18443986 | 295151 | SH |  | SOLE |  | 279838 | 0 | 15313 |
| PURE CYCLE CORP | COM NEW | 746228303 |  | 4073553 | 370660 | SH |  | SOLE |  | 356073 | 0 | 14587 |
| INVESCO EXCH TRA | DED FD TR II NASDAQ 100 ETF | 46138G649 |  | 516716 | 2043 | SH |  | SOLE |  | 2043 | 0 | 0 |
| RIBBON COMMUNICATIONS INC | COM | 762544104 |  | 3650648 | 1267586 | SH |  | SOLE |  | 1208149 | 0 | 59437 |
| RICHARDSON ELECTRS LTD | COM | 763165107 |  | 6418591 | 589944 | SH |  | SOLE |  | 563179 | 0 | 26765 |
| GIBRALTAR INDS INC | COM | 374689107 |  | 6374695 | 128938 | SH |  | SOLE |  | 125269 | 0 | 3669 |
| ORIGIN AGRITECH LIMITED | SHS NEW | G67828205 |  | 21645 | 19500 | SH |  | SOLE |  | 19500 | 0 | 0 |
| SUPERIOR GROUP OF CO INC | COM | 868358102 |  | 1100393 | 113677 | SH |  | SOLE |  | 110328 | 0 | 3349 |
| ISHARES TR | TRUST ISHARE 0-1 | 464288679 |  | 588043 | 5338 | SH |  | SOLE |  | 0 | 0 | 5338 |
| ISHARES TR | 1 3 YR TREAS BD | 464287457 |  | 205891 | 2486 | SH |  | SOLE |  | 2486 | 0 | 0 |
| SIGA TECHNOLOGIES INC | COM | 826917106 |  | 4179564 | 684053 | SH |  | SOLE |  | 651431 | 0 | 32622 |
| SILICOM LTD | ORD | M84116108 |  | 4480678 | 304808 | SH |  | SOLE |  | 288608 | 0 | 16200 |
| SIRIUSXM HOLDINGS INC | COMMON STOCK | 829933100 |  | 1007932 | 50409 | SH |  | SOLE |  | 46159 | 0 | 4250 |
| TETRA TECH INC NEW | COM | 88162G103 |  | 721110 | 21500 | SH |  | SOLE |  | 21500 | 0 | 0 |
| ABBOTT LABS | COM | 002824100 |  | 435383 | 3475 | SH |  | SOLE |  | 3475 | 0 | 0 |
| FEDERAL AGRIC MTG CORP | CL C | 313148306 |  | 4672971 | 26616 | SH |  | SOLE |  | 25823 | 0 | 793 |
| BANK AMERICA CORP | COM | 060505104 |  | 622710 | 11322 | SH |  | SOLE |  | 11322 | 0 | 0 |
| SPDR SERIES TRU | ST STATE STREET SPD | 78468R663 |  | 8526366 | 93306 | SH |  | SOLE |  | 84094 | 0 | 9212 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 8806428 | 17520 | SH |  | SOLE |  | 17520 | 0 | 0 |
| CITIGROUP INC | COM NEW | 172967424 |  | 275622 | 2362 | SH |  | SOLE |  | 2362 | 0 | 0 |
| COMMERCIAL METALS CO | COM | 201723103 |  | 449930 | 6500 | SH |  | SOLE |  | 6500 | 0 | 0 |
| CRAWFORD  CO | CL A | 224633206 |  | 3931099 | 349431 | SH |  | SOLE |  | 335434 | 0 | 13997 |
| CRAWFORD  CO | CL B | 224633107 |  | 1519324 | 141728 | SH |  | SOLE |  | 135158 | 0 | 6570 |
| CHEVRON CORP NEW | COM | 166764100 |  | 259859 | 1705 | SH |  | SOLE |  | 1705 | 0 | 0 |
| QUEST DIAGNOSTICS INC | COM | 74834L100 |  | 407796 | 2350 | SH |  | SOLE |  | 2350 | 0 | 0 |
| GE AEROSPACE | COM NEW | 369604301 |  | 982616 | 3190 | SH |  | SOLE |  | 3190 | 0 | 0 |
| GE VERNOVA INC | COM | 36828A101 |  | 348353 | 533 | SH |  | SOLE |  | 533 | 0 | 0 |
| HOME DEPOT INC | COM | 437076102 |  | 455933 | 1325 | SH |  | SOLE |  | 1325 | 0 | 0 |
| HUNTSMAN CORP | COM | 447011107 |  | 10109700 | 1010970 | SH |  | SOLE |  | 972649 | 0 | 38321 |
| ISHARES TR | U.S. MED DVC ETF | 464288810 |  | 702295 | 11300 | SH |  | SOLE |  | 11300 | 0 | 0 |
| ISHARES TR | CORE S ETF | 464287200 |  | 309593 | 452 | SH |  | SOLE |  | 452 | 0 | 0 |
| ISHARES TR | US TRSPRTION | 464287192 |  | 417256 | 5600 | SH |  | SOLE |  | 5600 | 0 | 0 |
| JACOBS SOLUTIONS INC | COM | 46982L108 |  | 400692 | 3025 | SH |  | SOLE |  | 3025 | 0 | 0 |
| JEFFERIES FINL GROUP INC | COM | 47233W109 |  | 3233161 | 52173 | SH |  | SOLE |  | 49929 | 0 | 2244 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 471432 | 2278 | SH |  | SOLE |  | 2278 | 0 | 0 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 319964 | 993 | SH |  | SOLE |  | 993 | 0 | 0 |
| COCA COLA CO | COM | 191216100 |  | 209730 | 3000 | SH |  | SOLE |  | 3000 | 0 | 0 |
| MILLER INDS INC TENN | COM NEW | 600551204 |  | 11166193 | 298801 | SH |  | SOLE |  | 285575 | 0 | 13226 |
| MARATHON PETE CORP | COM | 56585A102 |  | 778347 | 4786 | SH |  | SOLE |  | 4786 | 0 | 0 |
| MERCK  CO INC | COM | 58933Y105 |  | 217362 | 2065 | SH |  | SOLE |  | 2065 | 0 | 0 |
| MAGNACHIP SEMICONDUCTOR CORP | COM | 55933J203 |  | 1868785 | 732857 | SH |  | SOLE |  | 709501 | 0 | 23356 |
| ORION GROUP HLDGS INC | COM | 68628V308 |  | 5273836 | 530567 | SH |  | SOLE |  | 487234 | 0 | 43333 |
| PFIZER INC | COM | 717081103 |  | 201366 | 8087 | SH |  | SOLE |  | 8087 | 0 | 0 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 285187 | 1990 | SH |  | SOLE |  | 1990 | 0 | 0 |
| SANDRIDGE ENERGY INC | COM NEW | 80007P869 |  | 20216098 | 1400977 | SH |  | SOLE |  | 1325897 | 0 | 75080 |
| CONSTELLATION BRANDS INC | CL A | 21036P108 |  | 311790 | 2260 | SH |  | SOLE |  | 2260 | 0 | 0 |
| TUTOR PERINI CORP | COM | 901109108 |  | 7581168 | 113118 | SH |  | SOLE |  | 107719 | 0 | 5399 |
| TRI POINTE HOMES INC | COM | 87265H109 |  | 13886610 | 441265 | SH |  | SOLE |  | 418176 | 0 | 23089 |
| VANGUARD WORLD FD | HEALTH CAR ETF | 92204A504 |  | 877943 | 3050 | SH |  | SOLE |  | 3050 | 0 | 0 |
| VANGUARD INDEX FDS S 500 ETF | SHS | 922908363 |  | 961390 | 1533 | SH |  | SOLE |  | 1533 | 0 | 0 |
| VITESSE ENERGY INC | COMMON STOCK | 92852X103 |  | 4236294 | 219952 | SH |  | SOLE |  | 207576 | 0 | 12376 |
| VANGUARD WHITEHALL FDS | HIGH DIV YLD | 921946406 |  | 373152 | 2600 | SH |  | SOLE |  | 2600 | 0 | 0 |
| SELECT SECTOR SPDR TR STATE STREET | COM | 81369Y852 |  | 412020 | 3500 | SH |  | SOLE |  | 3500 | 0 | 0 |
| SELECT SECTOR SPDR TR | STATE STREET FIN | 81369Y605 |  | 654502 | 11950 | SH |  | SOLE |  | 11950 | 0 | 0 |
| SELECT SECTOR SPDR TR | STATE STREET TEC | 81369Y803 |  | 1137363 | 7900 | SH |  | SOLE |  | 7900 | 0 | 0 |
| SELECT SECTOR SPDR TR | STATE STREET CON | 81369Y407 |  | 1384678 | 11596 | SH |  | SOLE |  | 11596 | 0 | 0 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 200366 | 1665 | SH |  | SOLE |  | 1665 | 0 | 0 |

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