{"url_path":"/sec/svvc/10-q/2026/cover-page","section_key":"cover-page","section_title":"Cover Page","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-05-14","source_url":"https://www.sec.gov/Archives/edgar/data/1495584/0001437749-26-017006-index.html","accession_number":"0001437749-26-017006","cik":"0001495584","ticker":"SVVC","issuer_name":"Firsthand Technology Value Fund, Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1495584/0001437749-26-017006-index.html","primary_entity_key":"0001495584","primary_entity_name":"Firsthand Technology Value Fund, Inc."},"word_count":2119,"has_tables":true,"body_markdown":"sccv20260331_10q.htm\n\n0001495584\nFirsthand Technology Value Fund, Inc.\nfalse\n--12-31\nQ1\n2026\n0.001\n0.001\n100,000,000\n100,000,000\n7,016,432\n7,016,432\n5,965\n184,239\n110,240\n0.03\n0.2\nDecember 31, 2026\nOctober 11, 2019\nDecember 31, 2026\nOctober 22, 2021\nDecember 31, 2026\nOctober 29, 2019\nDecember 31, 2026\nOctober 6, 2021\nDecember 31, 2026\nNovember 12, 2021\nDecember 31, 2026\nNovember 29, 2021\nDecember 31, 2026\nDecember 31, 2018\nDecember 31, 2026\nFebruary 27, 2020\nDecember 31, 2026\nFebruary 28, 2022\nDecember 31, 2026\nMarch 25, 2020\nDecember 31, 2026\nMarch 30, 2022\nDecember 31, 2026\nMarch 8, 2020\nDecember 31, 2026\nApril 20, 2021\nDecember 31, 2026\nApril 6, 2022\nDecember 31, 2026\nJune 10, 2021\nDecember 31, 2026\nJune 10, 2022\nDecember 31, 2026\nJuly 12, 2019\nDecember 31, 2026\nJuly 16, 2021\nDecember 31, 2026\nJuly 31, 2020\nDecember 31, 2026\nAugust 28, 2020\nDecember 31, 2026\nSeptember 22, 2021\nJuly 12, 2013\nDecember 31, 2026\nFebruary 10, 2017\nDecember 31, 2026\nFebruary 28, 2014\n0.0\nJuly 2, 2018\n0.0\nNovember 14, 2016\nOctober 3, 2022\n32.3\nApril 18, 2011\n0.0\nJune 7, 2019\nJune 7, 2019\nJuly 20, 2020\n0.5\n89,860,375\n33.0\n133.0\n100.0\n0.6\nDecember 31, 2026\nOctober 11, 2019\nDecember 31, 2026\nOctober 22, 2021\nDecember 31, 2026\nOctober 29, 2019\nDecember 31, 2026\nOctober 6, 2021\nDecember 31, 2026\nNovember 12, 2021\nDecember 31, 2026\nNovember 29, 2021\nDecember 31, 2026\nDecember 31, 2018\nDecember 31, 2026\nFebruary 27, 2020\nDecember 31, 2026\nFebruary 28, 2022\nDecember 31, 2026\nMarch 25, 2020\nDecember 31, 2026\nMarch 30, 2022\nDecember 31, 2026\nMarch 8, 2020\nDecember 31, 2026\nApril 20, 2021\nDecember 31, 2026\nApril 6, 2022\nDecember 31, 2026\nJune 10, 2021\nDecember 31, 2026\nJune 10, 2022\nDecember 31, 2026\nJuly 12, 2019\nDecember 31, 2026\nJuly 16, 2021\nDecember 31, 2026\nJuly 31, 2020\nDecember 31, 2026\nAugust 28, 2020\nDecember 31, 2026\nSeptember 22, 2021\nJuly 12, 2013\nDecember 31, 2026\nFebruary 10, 2017\nDecember 31, 2026\nFebruary 28, 2014\n0.0\nJuly 3, 2018\n0.0\nNovember 14, 2016\nOctober 3, 2022\n71.3\nApril 18, 2011\n0.0\nJune 7, 2019\nJune 7th, 2019\nJuly 20, 2020\n23.9\n89,914,530\n95.8\n195.8\n100.0\nApril 18, 2011\n3\n3\n3\n2.5\n3.0\nhttp://fasb.org/us-gaap/2026#RealizedGainLossInvestmentDerivativeAndForeignCurrencyTransactionOperatingAfterTax\nhttp://fasb.org/us-gaap/2026#UnrealizedGainLossInvestmentDerivativeAndForeignCurrencyTransactionOperatingAfterTax\n0.1\n0.7\n0.8\n0.8\n5\n5\n50.0\n50\n3.92\n3.92\n22.8\n22.8\n0.0\n0\n0.0\n0.3\n0.5\n0.4\n3.81\n3.81\n5\n10\n55\n55\n0.0\n0\n0\nDecember 31, 2027\nDecember 31, 2028\nDecember 31, 2029\nDecember 31, 2030\nApril 26, 2016\nSeptember 30, 2016\nNovember 10, 2017\nAugust 31, 2018\n23.2702\nfalse\nfalse\nfalse\nfalse\nFair Value Level 3 security (66.7% of net assets).\nPer share results are calculated based on weighted average shares outstanding for each period.\nThe rate shown is the 7 day annualized yield at December 31, 2025\nAn increase in the input would result in an increase in the security’s valuation; a decrease in the input would result in a decrease in the security’s valuation.\nControlled investments.\nTax expense estimate is derived from net investment income (loss), and realized and unrealized gains (losses).\nFair Value Level 3 security (-32.5% of net assets).\nAffiliated issuer.\nIncludes Fidelity Investment Money Market Treasury Portfolio - Class I, which invests primarily in U.S. Treasury securities. The yields as of 03/31/26 and 12/31/25 were 3.55% and 3.66%, respectively. Please see https://fundresearch.fidelity.com/mutual-funds/summary/316175504 for additional information.\nThe Fidelity Investments Money Market Treasury Portfolio invests primarily in U.S. Treasury securities.\nIncludes an adjustment of 0.04 to increase the NAV to 0.00\nThe rate shown is the 7 day annualized yield at March 31, 2026.\nSecurity whose interest accrues until maturity however, based on December 31, 2025 valuation no such interest accrued during period ended December 31, 2025.\nCDI CHESS Depositary Interests\nFair Value Level 3 security (-71.9% of net assets).\nNon-income producing security.\nControlled Investments.\nThe net change in unrealized appreciation (depreciation) from Level 3 instruments held as of December 31, 2025 was $(116,619).\nRestricted security. Fair Value is determined in good faith by Firsthand Capital Management, Inc. (\"FCM\" or the \"Advisor\") as the valuation designee under Rule 2a-5 under the 1940 Act, subject to oversight by the Board (see Note 3). At December 31, 2025, we held $169,165 or (71.9)% of net assets) in restricted securities (see Note 2).\nThe tax expense and tax benefit are based on average net assets.\nAn increase in the inputs would result in a decrease in the securities valuation; a decrease in the input would result in an increase in the security's valuation.\nWeighted average is calculated by weighing the significant unobservable input by the relative fair value of each investment in the category.\nSecurity whose interest accrues until maturity however, based on March 31, 2026 valuation no such interest accrued during period ended March 31, 2026.\nRestricted security. Fair Value is determined in good faith by Firsthand Capital Management, Inc. 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of Contents](#toc)\n\n \n\n**U.S. SECURITIES AND EXCHANGE COMMISSION**\n**WASHINGTON, D.C. 20549**\n\n \n\n**FORM 10-Q**\n\n \n\n☑ \n\n**QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**\n\n \n\n \n\n**For the quarterly period of March 31, 2026**\n\n \n\n \n\n**or**\n\n \n\n☐ \n\n**TRANSITION QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**\n\n \n\n**Commission File Number 333-168195**\n\n \n\n**FIRSTHAND TECHNOLOGY VALUE FUND, INC.**\n\n**(Exact Name of Registrant as Specified in Charter)**\n\n \n\nMaryland\n(State or Other Jurisdiction of\nIncorporation or Organization)\n\n27-3008946\n(I.R.S. Employer\nIdentification No)\n\n \n\n \n \n\n150 Almaden Boulevard, Suite 1250\nSan Jose, California\n(Address of Principal Executive Offices)\n\n95113\n(Zip Code)\n\n \n\nTelephone Number, Including Area Code: (408) 886-7096\n\n \n\nSecurities registered pursuant to Section 12(b) of the Act:\n\n \n\n**Title of each class**\n\n**Trading Symbol(s)**\n\n**Name of each exchange on which registered**\n\nCommon\n\nSVVC\n\nOTCQB\n\n \n\nIndicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    ☑ Yes     ☐ No\n\n \n\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. (Check one):\n\n \n\n☐ Large Accelerated Filer\n\n \n\n☑ Non-accelerated Filer\n \n\n \n\n☐ Accelerated Filer\n\n \n\n \n\n☐ Smaller Reporting Company\n\n \n\n☑ Emerging growth company\n \n\n \n\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐\n\n \n\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).    ☐ Yes     ☑ No\n\n \n\nIndicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.\n\n \n\n**Class**\n\n**Outstanding at March 31, 2026**\n\nCommon Stock, $0.001 par value per share\n\n6,892,540\n\n \n\n \n\n \n\n \n\n[Table of Contents](#toc)\n\n \n\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐\n\n \n\n \n\nIndicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.    ☐\n\n \n\n \n\nIf securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements.   ☐\n\n \n\n \n\nIndicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).   ☐\n\n \n\n \n\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).    ☐Yes     ☒ No\n\n \n\n \n\nThe aggregate market value of the Common Stock held by non-affiliates of the registrant as of March 31, 2026 was approximately $84,000 (computed using the closing price of $0.02 per share of Common Stock on March 31, 2026, as reported by OTC Markets Group).\n\n \n\n \n\nAs of March 31, 2026, Firsthand Technology Value Fund had 6,892,540 shares of common stock, par value $0.001 per share, outstanding.\n\n \n\n \n\n \n\n[Table of Contents](#toc)\n\n \n\n \n\nTABLE OF CONTENTS\n \n\n[**PART****I. FINANCIAL INFORMATION**](#PART_I_FINANCIAL_INFORMATION)\n \n\n[Item 1. Financial Statements](#ITEM_1_FINANCIAL_STATEMENTS)\n\n \n\n[Consolidated Statements of Assets and Liabilities as of March 31, 2026 (Unaudited) and December 31, 2025](#Consolidated_Statements_of_Assets_and_Liabilities_as_of_March_31_2024_Unaudited_and_December_31_2023)\n\n[2](#Consolidated_Statements_of_Assets_and_Liabilities_as_of_March_31_2024_Unaudited_and_December_31_2023)\n\n[Consolidated Statements of Operations (Unaudited) for the Three Months Ended March 31, 2026, and March 31, 2025](#Consolidated_Statements_0f_Operations)\n\n[3](#Consolidated_Statements_0f_Operations)\n\n[Consolidated Statements of Cash Flows (Unaudited) for the Three Months Ended March 31, 2026, and March 31, 2025](#Consolidated_Statements_of_Cash_Flows)\n\n[4](#Consolidated_Statements_of_Cash_Flows)\n\n[Consolidated Statements of Changes in Net Assets (Unaudited) for the Three Months Ended March 31, 2026, and March 31, 2025](#Consolidated_Statements_of_Changes_in_Net_Assets)\n\n[5](#Consolidated_Statements_of_Changes_in_Net_Assets)\n\n[Selected Per Share Data and Ratios for the Three Months Ended March 31, 2026 (Unaudited) (Consolidated), for the Year Ended December 31, 2025 (Consolidated), for the Year Ended December 31, 2024 (Consolidated), for the Year Ended December 31, 2023 (Consolidated), for the Year Ended December 31, 2022 (Consolidated), and for the Year Ended December 31, 2021 (Consolidated)](#ratios)\n\n[6](#ratios)\n\n[Consolidated Schedule of Investments as of March 31, 2026 (Unaudited) and for the Year Ended December 31, 2025](#schedules)\n\n[7](#schedules)\n\n[Notes to Consolidated Financial Statements (Unaudited)](#notes)\n\n[13](#notes)\n\n[Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations](#mda)\n\n[30](#mda)\n\n[Item 3. Quantitative and Qualitative Disclosures About Market Risk](#Item_3)\n\n[35](#Item_3)\n\n[Item 4. Controls and Procedures](#controls)\n\n[37](#controls)\n\n[**PART II. OTHER INFORMATION**](#parttwo)\n\n[38](#parttwo)\n\n[Item 1. Legal Proceedings](#legal)\n\n[38](#legal)\n\n[Item 1A. Risk Factors](#risk)\n\n[38](#risk)\n\n[Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](#unregistered)\n\n[38](#unregistered)\n\n[Item 3. Defaults Upon Senior Securities](#defaults)\n\n[38](#defaults)\n\n[Item 4. Mine Safety Disclosures](#mine)\n\n[38](#mine)\n\n[Item 5. Other Information](#mine)\n\n[38](#otherinfo)\n\n[Item 6. Exhibits](#exhibits)\n\n[41](#exhibits)\n\n[**S**](#sigs)**IGNATURES**\n\n[42](#sigs)\n\n \n\n \n\n1\n\n[Table of Contents](#toc)\n\n \n\n \n\nPART I. FINANCIAL INFORMATION"}