Fund Evaluator:
Firsthand Technology Opportunities (TEFQX)
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Best Performing in Technology Over the Last Year
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Fund Details
Firsthand Technology Opportunities Overview
Firsthand Technology Opportunities (TEFQX) is an actively managed Sector Equity Technology fund. Firsthand Funds launched the fund in 1999.
The investment seeks long-term growth of capital. The fund invests at least 80% of the assets in high-technology companies. The adviser considers a high-technology company to be one that employs a relatively high degree of engineering and/or scientific intensity to deliver its products or services. It may purchase stocks of small-, mid-, and large-cap companies. Due to the fund's focus on emerging opportunities within the technology sector, its investments tend to include younger companies with market capitalizations in the small- or mid-cap categories. The fund is non-diversified.
About Firsthand Technology Opportunities (TEFQX)
There are 1 members of the management team with an average tenure of 26.77 years: Kevin Landis (1999). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: S&P 500 (TR) (1970) index with a weighting of 100% and NASDAQ Composite TR USD index with a weighting of 100%. Firsthand Technology Opportunities has 27 securities in its portfolio. The top 10 holdings constitute 71.7% of the fund’s assets. The fund meets the SEC requirement of being classified as a nondiversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Firsthand Technology Opportunities is part of the Equity global asset class and is within the Sector Equity fund group. Firsthand Technology Opportunities has 4.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 88.6%. There is 4.6% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Firsthand Technology Opportunities has 6.9% of the portfolio in cash.
Assets Under Management
The fund has $51 million in total assets, which is below the $1 billion average for the Technology category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
TEFQX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Firsthand Technology Opportunities expense ratio is high compared to funds in the Technology category. Firsthand Technology Opportunities has an expense ratio of 1.85%, which is 50% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Firsthand Technology Opportunities has a portfolio turnover rate of 38%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 77% for the Technology category.
Recently, in the month of June 2026, Firsthand Technology Opportunities returned -12.2%, which earned it a grade of F, as the Technology category had an average return of 1.9%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Firsthand Technology Opportunities has a trailing yield of 0.00%, which is below the 0.05% category average. The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Firsthand Technology Opportunities Grades
Year to date, the fund has returned 9.6%, 24.0 percentage points worse than the category, which translates into a grade of F. The fund has returned 12.3% over the past year (grade of F), 5.5% over the past three years (grade of F) and -18.3% per year over the past five years (grade of F) and 6.6% per year over the past 10 years (grade of F).
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TEFQX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| TEFQX Return (NAV) | -12.2% | 28.9% | 12.3% | 5.5% | -18.3% | 6.6% |
| TEFQX Grade | F | F | F | F | F | F |
| +/- Category | -14.2% | -11.8% | -41.5% | -27.4% | -33.1% | -16.2% |
| Technology Avg | 1.9% | 40.7% | 53.8% | 32.9% | 14.8% | 22.8% |
| TEFQX Tax Cost Ratio | na | na | 0.0% | 0.2% | 2.1% | 2.0% |
TEFQX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| TEFQX Return (NAV) | 9.6% | 29.8% | -22.0% | 10.8% | -59.9% | -16.7% | 96.5% | 28.5% | 4.3% | 55.5% | 6.0% |
| TEFQX Grade | F | B | F | F | F | F | A | F | A | A | D |
| +/- Category | -24.0% | 5.1% | -50.4% | -38.8% | -21.7% | -33.9% | 39.7% | -12.7% | 8.2% | 18.1% | -4.8% |
| Technology Avg | 33.6% | 24.7% | 28.3% | 49.6% | -38.2% | 17.2% | 56.9% | 41.2% | -3.9% | 37.4% | 10.8% |
| Risk Measures | |
| Standard Deviation: | 32.8% |
| Total Risk Index: | 2.70 - High |
| Category Risk Index: | 1.35 - High |
| Category Risk Grade: | F (92% Rank) |
| Beta: | 1.98 |
| R-Squared: | 59% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Growth |
| Bond Investment Style: | na |
| Yield: | 0.0% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $51 Mil |
| Fund Total Assets: | $ 51 Mil |
| Share Class Type: | No Load |
| Portfolio Turnover: | 38% |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 26.8 years | |||
| Average Tenure: 26.8 years | |||
| Managers (Year): Landis Kevin (1999) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 27 |
| % in Top 10 Holdings: | 71.7% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 4.6% |
Portfolio Allocation |
|
| Domestic Stock: | 88.6% |
| Foreign Stock: | 4.6% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 6.9% |
Purchase Information
| Fund Family: | Firsthand Funds |
| Phone Number: | 888-884-2675 |
| Website: | www.firsthandfunds.com |
| Status: | Open |
| Inception Date: | September 30, 1999 |
| Min. Initial Purchase: | $2,000 |
| Min. Initial IRA Purchase: | $2,000 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 1.85% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.23% |
| Share Class: | Firsthand Technology Opportunities |
| Min. Subsequent Purchase: | $ 50 |
| Min. Subsequent IRA Purchase: | $ 50 |
