# EDGAR Filing Document

**Accession Number:** 0000917124
**File Stem:** 0000940400-25-009538
**Filing Date:** 2025-11
**Character Count:** 26571
**Document Hash:** 6a848de7361bdedbcf1a2ee893681064
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-009538.hdr.sgml**: 20251124

**ACCESSION NUMBER**: 0000940400-25-009538

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251124

**DATE AS OF CHANGE**: 20251124

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FIRSTHAND FUNDS
- **CENTRAL INDEX KEY:** 0000917124

**ORGANIZATION NAME:**
- **EIN:** 132620737
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08268
- **FILM NUMBER:** 251512432

**BUSINESS ADDRESS:**
- **STREET 1:** 150 ALMADEN BLVD
- **STREET 2:** SUITE 1250
- **CITY:** SAN JOSE
- **STATE:** CA
- **ZIP:** 95113
- **BUSINESS PHONE:** 1-888-884-2675

**MAIL ADDRESS:**
- **STREET 1:** PO BOX 9836
- **CITY:** PROVIDENCE
- **STATE:** RI
- **ZIP:** 02940-8036

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** INTERACTIVE INVESTMENTS
- **DATE OF NAME CHANGE:** 19940106

## Series and Classes Contracts Data

### Firsthand Alternative Energy Fund (Series ID: S000018833)

| Class ID   | Class Name                        | Ticker Symbol   |
|:---|:---|:---|
| C000052080 | Firsthand Alternative Energy Fund | ALTEX           |

## Nport-Ex

**FIRSTHAND ALTERNATIVE ENERGY FUND**

*Portfolio of Investments, September 30, 2025 (unaudited)*

---

| | | |
|:---|:---|:---|
| | **SHARES** | **MARKET VALUE** |
| **COMMON STOCKS — 87.0% (Cost $7,089,111)** |  |  |
| **Building Materials — 3.0% (Cost $265,056)** |  |  |
| Aspen Aerogels, Inc.<sup>\*</sup> | 35000 | $243600 |
| Carrier Global Corp. | 1000 | 59700 |
| **Commercial Services — 8.5% (Cost $54,392)** |  |  |
| Quanta Services, Inc. | 2100 | 870282 |
| **Consumer, Non-cyclical — 1.3% (Cost $146,959)** |  |  |
| Koninklijke Philips N.V. | 4962 | 135264 |
| **Electric — 13.0% (Cost $318,574)** |  |  |
| Iberdrola S.A. | 493 | 9322 |
| Oklo, Inc.<sup>\*</sup> | 10000 | 1116300 |
| Ormat Technologies, Inc. | 2000 | 192500 |
| **Electronics — 9.0% (Cost $1,027,105)** |  |  |
| ABB, Ltd. - SP ADR | 7000 | 503650 |
| ChargePoint Holdings, Inc.<sup>\*</sup> | 3000 | 32760 |
| Honeywell International, Inc. | 580 | 122090 |
| Itron, Inc.<sup>\*</sup> | 2000 | 249120 |
| Orion Energy Systems, Inc.<sup>\*</sup> | 1400 | 12236 |
| **Energy — 11.9% (Cost $1,376,474)** |  |  |
| Complete Solaria, Inc.<sup>\*</sup> | 150000 | 264000 |
| Enphase Energy, Inc.<sup>\*</sup> | 3000 | 106170 |
| First Solar, Inc.<sup>\*</sup> | 2000 | 441060 |
| SolarEdge Technologies, Inc.<sup>\*</sup> | 3000 | 111000 |
| Sunnova Energy International, Inc.<sup>\*</sup> | 15000 | 8 |
| SunPower Corp., Class B<sup>\*(1)</sup> | 29931 | 0 |
| Vestas Wind Systems A.S. | 15000 | 284100 |
| **Environmental Control — 0.5% (Cost $34,135)** |  |  |
| Arq, Inc.<sup>\*</sup> | 6800 | 48688 |
| **Home Furnishings — 0.1% (Cost $140,193)** |  |  |
| Sharp Corp.<sup>\*</sup> | 1100 | 6173 |
| **Industrials — 22.4% (Cost $1,370,523)** |  |  |
| Accelleron Industries AG - ADR | 350 | 29358 |
| Bloom Energy Corp., Class A<sup>\*</sup> | 15000 | 1268550 |
| BWX Technologies, Inc. | 2000 | 368740 |
| Eaton Corp. PLC | 500 | 187125 |
| GE Vernova, Inc. | 400 | 245960 |
| NuScale Power Corp.<sup>\*</sup> | 5000 | 180000 |
| **Semiconductors — 12.1% (Cost $2,273,533)** |  |  |
| Axcelis Technologies, Inc.<sup>\*</sup> | 4000 | 390560 |
| Monolithic Power Systems, Inc. | 200 | 184128 |
| ON Semiconductor Corp.<sup>\*</sup> | 8000 | 394480 |
| STMicroelectronics N.V. | 5000 | 141300 |
| ULVAC, Inc. | 2700 | 117742 |
| Wolfspeed, Inc.<sup>\*</sup> | 10084 | 2388 |

---

**FIRSTHAND ALTERNATIVE ENERGY FUND -** **continued**

*Portfolio of Investments, September 30, 2025 (unaudited)*

---

| | | |
|:---|:---|:---|
| | **SHARES** | **MARKET VALUE** |
| **COMMON STOCKS (continued)** |  |  |
| **Telecommunications — 5.2% (Cost $82,167)** |  |  |
| Corning, Inc. | 6460 | $529914 |
| **WARRANTS — 0.0%<sup>\*\*</sup> (Cost $13,950)** |  |  |
| **Internet — 0.0%<sup>\*\*</sup> (Cost $13,950)** |  |  |
| Swvl Holdings Corp. <sup>\*</sup> | 13333 | 181 |
| **INVESTMENT COMPANY — 13.1% (Cost $1,326,991)** |  |  |
| Fidelity Investments Money Market Fund - Treasury Portfolio<sup>(2)</sup> | 1326991 | 1326991 |
| **Total Investments<br> (Cost $8,430,052) — 100.1%** |  | 10175440 |
| **Liabilities in excess of other assets — (0.1)%** |  | (8879) |
| **NET ASSETS - 100.0%** |  | $**10166561** |

---

\* Non-income producing security.

\*\* Less than 0.05%.

(1) Fair Value Level 3 security (0.0% of net assets).

(2) The Fidelity Investments Money Market Fund invests primarily in U.S. Treasury Securities.

---

| | |
|:---|:---|
| *ADR* | *American Depositary Receipt* |
| *PLC* | *Public Limited Company* |
| *SP ADR* | *Sponsored American Depositary Receipt* |

---

**FIRSTHAND ALTERNATIVE ENERGY FUND -** **continued**

*Portfolio of Investments, September 30, 2025 (unaudited)*

**Securities Valuation**—The Fund's portfolio of securities is valued as follows:

&nbsp;&nbsp;&nbsp;&nbsp;1. Securities traded on stock exchanges, or quoted by NASDAQ, are
valued according to the NASDAQ official closing price, if applicable, or at their last reported sale price as of the close of trading
on the New York Stock Exchange ("NYSE") (normally 4:00 P.M. Eastern Time). If a security is not traded that day, the security
will be valued at its most recent bid price.

&nbsp;&nbsp;&nbsp;&nbsp;2. Securities traded in the over-the-counter market, but not quoted
by NASDAQ, are valued at the last sale price (or, if the last sale price is not readily available, at the most recent closing bid price
as quoted by brokers that make markets in the securities) at the close of trading on the NYSE.

&nbsp;&nbsp;&nbsp;&nbsp;3. Securities traded both in the over-the-counter market and on a
stock exchange are valued according to the broadest and most representative market.

&nbsp;&nbsp;&nbsp;&nbsp;4. If a price is not readily available for a portfolio security,
the security will be valued at fair value (the amount which the Fund might reasonably expect to receive for the security upon its current
sale). The Board of Trustees has designated the Advisor as the Fund's valuation designee (the "Valuation Designee") to
make all fair value determinations with respect to the Fund's portfolio investments, subject to the Board's oversight. As
the Valuation Designee, the Advisor has adopted policies and procedures to be followed when the Fund must utilize fair value pricing.

In pricing illiquid, privately placed securities, the advisor follows well-accepted valuation techniques. Initial valuations are generally determined by the initial purchase price for each security. Subsequent to initial purchase, securities are repriced from time to time to reflect changes to the companies' valuations caused by various events. Such events include, among others, a new round of financing establishing a new valuation for the company; material changes to a company's business or business prospects, either due to company-specific internal issues (gaining or losing a major customer, missing a significant milestone, etc.) or macroeconomic events affecting the industry or the world. In analyzing a company's valuation, factors that are also considered include a company's cash flow, revenues, profitability, financial forecasts, and probability of success in those measures. Other potential factors include the value of comparable public and private companies and general market conditions.

**Fair Value Measurement** — In accordance with the authoritative guidance on fair value measurements and disclosures under GAAP, the Fund discloses the fair value of its investments in a hierarchy that prioritizes the inputs to valuation techniques used to measure the fair value. The hierarchy gives the highest priority to valuations based upon unadjusted quoted prices in active markets for identical assets or liabilities (level 1 measurement) and the lowest priority to valuations based upon unobservable inputs that are significant to the valuation (level 3 measurements).

The guidance establishes three levels of the fair value hierarchy as follows:

**Level 1** - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access**.**

**Level 2** - Observable inputs other than quoted prices included in level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risks, yield curves, default rates, and similar data.

**Level 3** – Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund's own assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available.

The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in level 3.

The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement falls in its entirety, is determined based on the lowest level input that is significant to the fair value measurement in its entirety.

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The following is a summary of the inputs used to value the Fund's net assets as of September 30, 2025:

**FIRSTHAND ALTERNATIVE ENERGY FUND -** **continued**

*Portfolio of Investments, September 30, 2025 (unaudited)*

---

| | | | |
|:---|:---|:---|:---|
| **FUND** | **LEVEL 1<br> QUOTED <br> PRICES** | **LEVEL 2<br> OTHER<br> SIGNIFICANT<br> OBSERVABLE<br> INPUTS** | **LEVEL 3<br> SIGNIFICANT<br> OBSERVABLE<br> INPUTS** |
| **FIRSTHAND ALTERNATIVE ENERGY FUND** |  |  |  |
| **Common Stocks** |  |  |  |
| &nbsp;&nbsp;&nbsp;**Building Materials** | $303300 | $— | $— |
| &nbsp;&nbsp;&nbsp;**Commercial Services** | 870282 |  |  |
| &nbsp;&nbsp;&nbsp;**Consumer, Non-cyclical** | 135264 |  |  |
| &nbsp;&nbsp;&nbsp;**Electric** | 1318122 |  |  |
| &nbsp;&nbsp;&nbsp;**Electronics** | 919856 |  |  |
| &nbsp;&nbsp;&nbsp;**Energy** | 1206338 |  | 0 |
| &nbsp;&nbsp;&nbsp;**Environmental Control** | 48688 |  |  |
| &nbsp;&nbsp;&nbsp;**Home Furnishings** | 6173 |  |  |
| &nbsp;&nbsp;&nbsp;**Industrials** | 2279733 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |
| &nbsp;&nbsp;&nbsp;**Semiconductors** | 1230598 |  |  |
| &nbsp;&nbsp;&nbsp;**Telecommunications** | 529914 |  |  |
| &nbsp;&nbsp;&nbsp;**Total Common Stocks** | **8848268** | **—** | **0** |
| **Warrants** |  |  |  |
| &nbsp;&nbsp;&nbsp;**Internet** | 181 |  |  |
| **Investment Company** | 1326991 |  |  |
| **Total** | $**10175440** | $**—** | $**0** |

---

At the end of each calendar quarter, management evaluates the Level 2 and 3 assets and liabilities for changes in liquidity, including but not limited to: whether a broker is willing to execute at the quoted price, the depth and consistency of prices from third party services, and the existence of contemporaneous, observable trades in the market. Additionally, management evaluates the Level 1 and 2 assets and liabilities on a quarterly basis for changes in listings or delistings on national exchanges.

As of the period ended September 30, 2025, Level 3 investments were valued in accordance with procedures approved by the Board of Trustees. These investments did not have a material impact on the Fund's net assets and, therefore, disclosure of unobservable inputs used in formulating valuations is not presented.

For information on the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent semi-annual or annual shareholder report.

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Firsthand Funds

- **b. Investment Company Act file number:** 811-08268

- **c. CIK number of Registrant:** 0000917124

- **d. LEI of Registrant:** 549300OKVDL2TG12QX97

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 150 Almaden Boulevard

  - **City:** San Jose

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 95113

  - **Telephone number:** 408-886-7096

**Item A.2. Information about the Series.**

- **a. Name of Series:** Firsthand Alternative Energy Fund

- **b. EDGAR series identifier (if any):** S000018833

- **c. LEI of Series:** 549300P8W2N3XQHRZF17

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-09-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $10181842.16

**Total Liabilities:** $15247.42

**Net Assets:** $10166594.74

**Cash Not Reported:** $3219.31

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000052080 | 11.74%               | 0.75%                | 13.87%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $291586.98               | $504625.52                                 |
| Month 2  | $-20084.69               | $87552.19                                  |
| Month 3  | $50950.01                | $1231920.59                                |

### Schedule of Portfolio Investments

| Name                           | Title                            | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Sharp Corp/Japan               | Sharp Corp/Japan                 | CUSIP: 000000000<br>LEI: 353800YEPK9PD7QO3449 | Long             | EC               | CORP              | JP        |      1100 | NS      | $6172.97      | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| STMicroelectronics NV          | STMicroelectronics NV            | CUSIP: 861012102<br>LEI: 213800Z8NOHIKRI42W10 | Long             | EC               | CORP              | CH        |      5000 | NS      | $141300.00    | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Iberdrola SA                   | Iberdrola SA                     | CUSIP: 000000000<br>LEI: 5QK37QC7NWOJ8D7WVQ45 | Long             | EC               | CORP              | ES        |       493 | NS      | $9321.68      | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| SolarEdge Technologies Inc     | SolarEdge Technologies Inc       | CUSIP: 83417M104<br>LEI: 5493000K6Y58XXPDF853 | Long             | EC               | CORP              | IL        |      3000 | NS      | $111000.00    | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Carrier Global Corp            | Carrier Global Corp              | CUSIP: 14448C104<br>LEI: 549300JE3W6CWY2NAN77 | Long             | EC               | CORP              | US        |      1000 | NS      | $59700.00     | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| GE Vernova Inc                 | GE Vernova Inc                   | CUSIP: 36828A101<br>LEI: 254900DP080RU6OK2553 | Long             | EC               | CORP              | US        |       400 | NS      | $245960.00    | 2.42%             |  |  |  | No            |                  1 | On Loan: No      |
| ChargePoint Holdings Inc       | ChargePoint Holdings Inc         | CUSIP: 15961R303<br>LEI: 254900DVN9TAC2GIPG25 | Long             | EC               | CORP              | US        |      3000 | NS      | $32760.00     | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Eaton Corp PLC                 | Eaton Corp PLC                   | CUSIP: 000000000<br>LEI: 549300VDIGTMXUNT7H71 | Long             | EC               | CORP              | IE        |       500 | NS      | $187125.00    | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| ON Semiconductor Corp          | ON Semiconductor Corp            | CUSIP: 682189105<br>LEI: ZV20P4CNJVT8V1ZGJ064 | Long             | EC               | CORP              | US        |      8000 | NS      | $394480.00    | 3.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Arq Inc                        | Arq Inc                          | CUSIP: 00770C101<br>LEI: 52990086HRJSW2EZQH40 | Long             | EC               | CORP              | US        |      6800 | NS      | $48688.00     | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| ABB Ltd                        | ABB Ltd                          | CUSIP: 000375204<br>LEI: 5493000LKVGOO9PELI61 | Long             | EC               | CORP              | CH        |      7000 | NS      | $503650.00    | 4.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Itron Inc                      | Itron Inc                        | CUSIP: 465741106<br>LEI: 24F6LSZD18II6ICG6S41 | Long             | EC               | CORP              | US        |      2000 | NS      | $249120.00    | 2.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Enphase Energy Inc             | Enphase Energy Inc               | CUSIP: 29355A107<br>LEI: 5493008U7KIGMI59Z314 | Long             | EC               | CORP              | US        |      3000 | NS      | $106170.00    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Aspen Aerogels Inc             | Aspen Aerogels Inc               | CUSIP: 04523Y105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     35000 | NS      | $243600.00    | 2.40%             |  |  |  | No            |                  1 | On Loan: No      |
| SunPower Corp                  | SunPower Corp                    | CUSIP: 867652406<br>LEI: 549300TXO070764WUH65 | Long             | EC               | CORP              | US        |     29931 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Sunnova Energy International I | Sunnova Energy International Inc | CUSIP: 86745K104<br>LEI: 549300JK1Y1VVC3JU540 | Long             | EC               | CORP              | US        |     15000 | NS      | $7.50         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| BWX Technologies Inc           | BWX Technologies Inc             | CUSIP: 05605H100<br>LEI: 549300NP85N265KWMS58 | Long             | EC               | CORP              | US        |      2000 | NS      | $368740.00    | 3.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Wolfspeed Inc                  | Wolfspeed Inc                    | CUSIP: 977852102<br>LEI: 549300OGU88P3AW3TO93 | Long             | EC               | CORP              | US        |     10000 | NS      | $2388.67      | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Ulvac Inc                      | Ulvac Inc                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |      2700 | NS      | $117742.16    | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Honeywell International Inc    | Honeywell International Inc      | CUSIP: 438516106<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | EC               | CORP              | US        |       580 | NS      | $122090.00    | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Monolithic Power Systems Inc   | Monolithic Power Systems Inc     | CUSIP: 609839105<br>LEI: 529900TB7O85LSZ1XU31 | Long             | EC               | CORP              | US        |       200 | NS      | $184128.00    | 1.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity Treasury Portfolio    | Fidelity Treasury Portfolio      | CUSIP: 316175504<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   1323856 | NS      | $1323855.68   | 13.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Koninklijke Philips NV         | Koninklijke Philips NV           | CUSIP: 500472303<br>LEI: H1FJE8H61JGM1JSGM897 | Long             | EC               | CORP              | NL        |      4962 | NS      | $135264.12    | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Ormat Technologies Inc         | Ormat Technologies Inc           | CUSIP: 686688102<br>LEI: 5493000TSHHWY24VHM09 | Long             | EC               | CORP              | US        |      2000 | NS      | $192500.00    | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Vestas Wind Systems A/S        | Vestas Wind Systems A/S          | CUSIP: 000000000<br>LEI: 549300DYMC8BGZZC8844 | Long             | EC               | CORP              | DK        |     15000 | NS      | $284100.00    | 2.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Quanta Services Inc            | Quanta Services Inc              | CUSIP: 74762E102<br>LEI: SHVRXXEACT60MMH07S24 | Long             | EC               | CORP              | US        |      2100 | NS      | $870282.00    | 8.56%             |  |  |  | No            |                  1 | On Loan: No      |
| First Solar Inc                | First Solar Inc                  | CUSIP: 336433107<br>LEI: 549300NPYMLM4NHTOF27 | Long             | EC               | CORP              | US        |      2000 | NS      | $441060.00    | 4.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Axcelis Technologies Inc       | Axcelis Technologies Inc         | CUSIP: 054540208<br>LEI: 529900HF9B6NL1QG9F05 | Long             | EC               | CORP              | US        |      4000 | NS      | $390560.00    | 3.84%             |  |  |  | No            |                  1 | On Loan: No      |
| SWVL HOLDINGS CORP             | Swvl Holdings Corp               | CUSIP: 000000000<br>LEI: 254900YBV6FCSGOW6E19 | Long             | EC               | CORP              | VG        |     13333 | NS      | $181.33       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Accelleron Industries AG       | Accelleron Industries AG         | CUSIP: 00449R109<br>LEI: 254900KS0MD2PAARXD14 | Long             | EC               | CORP              | CH        |       350 | NS      | $29358.00     | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Corning Inc                    | Corning Inc                      | CUSIP: 219350105<br>LEI: 549300X2937PB0CJ7I56 | Long             | EC               | CORP              | US        |      6460 | NS      | $529913.80    | 5.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Bloom Energy Corp              | Bloom Energy Corp                | CUSIP: 093712107<br>LEI: 549300XB5J9BFW5JXV97 | Long             | EC               | CORP              | US        |     15000 | NS      | $1268550.00   | 12.48%            |  |  |  | No            |                  1 | On Loan: No      |
| Orion Energy Systems Inc       | Orion Energy Systems Inc         | CUSIP: 686275207<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1400 | NS      | $12236.00     | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Oklo Inc                       | Oklo Inc                         | CUSIP: 02156V109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10000 | NS      | $1116300.00   | 10.98%            |  |  |  | No            |                  1 | On Loan: No      |
| NuScale Power Corp             | NuScale Power Corp               | CUSIP: 67079K100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5000 | NS      | $180000.00    | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Complete Solaria Inc           | Complete Solaria Inc             | CUSIP: 20460L104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    150000 | NS      | $264000.00    | 2.60%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-24

**Name of Applicant:** Firsthand Funds

**Signature:** Rodney Yee

**Name of Signer:** Rodney Yee

**Title:** Controller