Firsthand Alternative Energy Fund
ALTEX
NASDAQ- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 150 Almaden Blvd San Jose CA United States of America 95113
- IPO Date
- Oct 30, 2007
- CIK
- 0000917124
- Website
- firsthandfunds.com
- Similar Companies
- Business
- Firsthand Alternative Energy Fund (ALTEX) is an open-end mutual fund that seeks long-term growth of capital by investing primarily in equity securities of alternative energy and alternative energy technology companies. The fund normally allocates at least 80% of its assets to such companies, encompassing stocks across all market capitalizations, including large-cap, mid-cap, and small-cap issuers, with a focus on U.S. and international firms in sectors such as industrials, technology, consumer cyclicals, utilities, and healthcare; top holdings as of recent data include Tesla Inc., Quanta Services Inc., First Solar Inc., ON Semiconductor Corp., and Kratos Defense and Security Solutions Inc. It maintains a mid-growth investment style within the technology category, with total net assets of approximately $7-11 million, a net expense ratio of 2.01%, and daily pricing. Launched on October 29, 2007, the fund is managed by Kevin Landis and is domiciled in the United States, with operations available for sale to U.S. investors requiring a minimum initial investment of $2,000. Firsthand Capital Management, Inc., the fund's investment adviser, was founded in 1994 and is headquartered in San Jose, California, in the heart of Silicon Valley, leveraging the firm's technology sector expertise and industry network for active management. The fund spreads investments across multiple sub-industries within alternative energy, including clean energy technologies, rather than concentrating in areas like semiconductors alone. Recent performance highlights include a 1-year total return of 39.30% and a 3-year annualized return of 9.65% as of October 31, 2025, with quarterly gains of 28.20% in Q3 2025, outperforming benchmarks in certain periods amid strong sector momentum. No major acquisitions, partnerships, funding rounds, or strategic shifts specific to the fund have been reported in the last 1-2 years; it continues under the existing expense limitation agreement through April 30, 2026, with net operating expenses capped at 1.98% for assets up to $200 million. The fund remains focused on its core mandate amid evolving clean energy markets, with portfolio turnover at 22% and exposure primarily to U.S. stocks (79.25%), non-U.S. stocks (15.54%), and cash (5.21%).