Investment objective & strategy
As of April 30, 2025 · prospectusObjective. Firsthand Alternative Energy Fund seeks long-term growth of capital.
Strategy. Under normal circumstances, we invest at least 80% of the Funds assets in alternative energy and alternative energy technology companies, both U.S. and international. Alternative energy currently includes energy generated through solar, hydrogen, wind, geothermal, hydroelectric, tidal, biofuel, and biomass. Alternative energy technologies currently include, but are not limited to, technologies that enable energies to be tapped, stored, or transported, such as fuel cells; services or technologies that conserve or enable more efficient utilization of energy; and technologies that help minimize harmful emissions from existing energy sources, such as helping reduce carbon emissions. Because there are no market capitalization restrictions on the Funds investments, the Fund may purchase stocks of any capitalization, including, but not limited to, large-cap, mid-cap or … Under normal circumstances, we invest at least 80% of the Funds assets in alternative energy and alternative energy technology companies, both U.S. and international. Alternative energy currently includes energy generated through solar, hydrogen, wind, geothermal, hydroelectric, tidal, biofuel, and biomass. Alternative energy technologies currently include, but are not limited to, technologies that enable energies to be tapped, stored, or transported, such as fuel cells; services or technologies that conserve or enable more efficient utilization of energy; and technologies that help minimize harmful emissions from existing energy sources, such as helping reduce carbon emissions. Because there are no market capitalization restrictions on the Funds investments, the Fund may purchase stocks of any capitalization, including, but not limited to, large-cap, mid-cap or small-cap stocks. There is also no percentage limit on the Funds ability to invest in foreign and emerging markets securities. The Funds international stock investments may include stocks of companies based in or doing substantial business in both developed markets and emerging markets. The Fund may also from time to time, as part of its principal investment strategies, invest a substantial portion of its assets in cash or cash equivalents. Our analysis of a potential investment focuses on valuing a company and purchasing securities of that company if we believe its intrinsic value exceeds its current market price. Conversely, we sell securities of a company when its market price exceeds its intrinsic value or when alternative investments present better potential for capital appreciation. When assessing a companys intrinsic value, we consider a number of factors that may influence its earnings potential, including: strength of technology, breadth of product line, barriers to entry (including patents and other intellectual property rights), the competitive environment, product development, marketing acumen, and management strength and vision. The Fund is non-diversified, which means that it invests in fewer companies than a diversified fund. In addition, the Fund has a policy of concentrating its investments in alternative energy and clean technology industries. Although some of the Funds holdings may produce dividends, interest, or other income, current income is not a consideration when selecting the Funds investments.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| MONEYMKT | FISXX | $1.75M | 16.03% |
| BLOOM ENERGY CORP CL A | — | $1.63M | 14.90% |
| QUANTA SVCS INC | — | $1.15M | 10.56% |
| CORNING INC | — | $878.37K | 8.05% |
| COMMSTCK | ABBNY | $563.36K | 5.16% |
| OKLO INC | — | $495.90K | 4.54% |
| ON SEMICONDUCTOR CORP | — | $495.36K | 4.54% |
| VESTAS WIND SYST | — | $440.44K | 4.04% |
| BWX TECHNOLOGIES INC | — | $408.98K | 3.75% |
| AXCELIS TECHNOLOGIES INC | — | $372.32K | 3.41% |
Portfolio moves
Dec 31, 2025 → Mar 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| First Trust NASDAQ Clean Edge Green Energy Index Fund · QCLN | 21% | 0.56% |
| Defiance AI and Power Infrastructure ETF · AIPO | 21% | 0.69% |
| Virtus Duff & Phelps Clean Energy ETF · VCLN | 20% | 0.59% |
Advisers
| Firm | Role |
|---|---|
| Firsthand Capital Management, Inc. | Adviser |
Footnotes
- Expense ratio as of April 30, 2025, from the fund's prospectus.
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
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