As of September 30, 2024, Firsthand Technology Value Fund, Inc. reported total assets of $2.21 million, a significant decrease from $8.81 million at the end of the previous fiscal year on December 31, 2023. The market value of investments also fell sharply to $1.43 million from $8.73 million. However, net assets increased to $1.54 million, up from $1.26 million, resulting in a net asset value per share of $0.22, compared to $0.18 at the end of 2023.

For the three months ending September 30, 2024, the fund recorded total investment income of $35,792, a recovery from a loss of $(234,126) in the same period of 2023. However, net investment income showed a loss of $(355,961) for the latest quarter, down from a profit of $1.87 million a year earlier. The nine-month figures reflect a net investment income of $2.28 million, an increase from $1.36 million in 2023.

The fund experienced a net realized gain of $11.69 million for the three months ended September 30, 2024, contrasting with a negligible loss in the same period of 2023. Unrealized losses on investments were reported at $(115.54 million), a decrease from $(126.09 million) in the previous year. The net increase in net assets resulting from operations for the latest quarter was $526,227, a notable recovery from a decrease of $(10.42 million) in the same quarter of 2023.

Operating expenses for the three months ended September 30, 2024, totaled approximately $391,753, a significant reduction from $2.10 million in the same period of 2023, primarily due to a management fee waiver of $2.5 million in the prior year. The total expenses for the nine months ended September 30, 2024, were reported at $337.39 million, compared to $7.21 million for the entire year of 2023.

Strategically, the fund has made adjustments to its management fee structure, waiving future accruals of the base management fee through December 31, 2024. The company has also reduced its holdings in restricted securities to $433,078 from $4.80 million at the end of 2023. The investment portfolio remains focused on technology companies, with a significant portion allocated to advanced materials.

Overall, Firsthand Technology Value Fund, Inc. has navigated a challenging market environment, showing signs of recovery in net assets and investment income while implementing strategic fee waivers to manage expenses effectively.