FIRST WILSHIRE SECURITIES MANAGEMENT INC

PASADENA, CA · CIK 732847 · 13F filing filed 2026-08-14

SEC-registered investment adviser since 1980 · corporation

Assets managed$415.5m
Staff9 · 6 in investment roles
Main clients (by assets)High net worth individuals 74%, Private funds 13%, Individuals 6%
Private funds2 (2 hedge) · $55.7m gross assets
Form ADV · 2026-05-05SEC adviser record

$485.7m reported value +9.4% vs Q1 2026

82positions

58.3%in top 10

3 new 11 added 37 reduced 6 sold out vs Q1 2026

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	ISHARES TR 0-3 MNTH TREASRY SGOV	SGOV	1,087,949	$109.5m22.55%	22.55%	Added +421.8k	+421,797 63.3%
2	ECOVYST INC COM ECVT	ECVT	2,171,238	$27.0m5.57%	5.57%	Reduced -25.5k	-25,546 -1.2%
3	LIBERTY GLOBAL LTD COM CL A LBTYA	LBTYA	2,260,238	$25.7m5.29%	5.29%	Reduced -81.2k	-81,181 -3.5%
4	NWPX INFRASTRUCTURE INC COM NWPX	NWPX	151,077	$22.7m4.66%	4.66%	Reduced -26.2k	-26,168 -14.8%
5	EZCORP INC CL A NON VTG EZPW	EZPW	631,647	$21.8m4.50%	4.50%	Reduced -109.1k	-109,124 -14.7%
6	SANDRIDGE ENERGY INC COM NEW SD	SD	1,393,102	$19.1m3.93%	3.93%	Reduced -14.8k	-14,761 -1.1%
7	CHECK POINT SOFTWARE TECH LT ORD CHKP	CHKP	122,438	$16.1m3.31%	3.31%	Added +116.5k	+116,516 1967.5%
8	MILLER INDS INC TENN COM NEW MLR	MLR	295,912	$15.1m3.12%	3.12%	Reduced -3.1k	-3,124 -1.0%
9	SILICOM LTD ORD SILC	SILC	284,287	$13.6m2.81%	2.81%	Reduced -31.4k	-31,355 -9.9%
10	CERAGON NETWORKS LTD ORD CRNT	CRNT	4,811,079	$12.5m2.57%	2.57%	Reduced -43.1k	-43,071 -0.9%
11	RICHARDSON ELECTRS LTD COM RELL	RELL	642,356	$12.2m2.51%	2.51%	Reduced -29.6k	-29,642 -4.4%
12	GIBRALTAR INDS INC COM ROCK	ROCK	268,773	$12.1m2.50%	2.50%	Reduced -231.2k	-231,150 -46.2%
13	INNOSPEC INC COM IOSP	IOSP	147,112	$12.0m2.47%	2.47%	Reduced -960	-960 -0.7%
14	AVIAT NETWORKS INC COM NEW AVNW	AVNW	523,317	$11.6m2.39%	2.39%	Reduced -6.2k	-6,216 -1.2%
15	SPDR SER TR BLOOMBERG 1-3 MO BIL	BIL	114,229	$10.5m2.16%	2.16%	Added +6.8k	+6,839 6.4%
16	BERKSHIRE HATHAWAY INC DEL CL B NEW BRK.B	BRK.B	18,217	$9.1m1.88%	1.88%	Reduced -84	-84 -0.5%
17	ORION GROUP HLDGS INC COM ORN	ORN	518,879	$8.7m1.80%	1.80%	Reduced -9.3k	-9,329 -1.8%
18	TUTOR PERINI CORP COM TPC	TPC	99,788	$8.3m1.70%	1.70%	Reduced -997	-997 -1.0%
19	LIMONEIRA CO COM LMNR	LMNR	586,536	$7.7m1.59%	1.59%	Added +8.5k	+8,477 1.5%
20	HUNTSMAN CORP COM HUN	HUN	696,338	$7.4m1.52%	1.52%	Reduced -321.9k	-321,883 -31.6%
21	MATRIX SVC CO COM MTRX	MTRX	517,121	$7.1m1.46%	1.46%	Reduced -5.7k	-5,717 -1.1%
22	GILAT SATELLITE NETWORKS LTD SHS NEW GILT	GILT	462,978	$6.2m1.27%	1.27%	Reduced -143.2k	-143,211 -23.6%
23	LUXFER HLDGS PLC SHS LXFR	LXFR	336,435	$6.1m1.25%	1.25%	Reduced -5.7k	-5,739 -1.7%
24	ANDERSONS INC COM ANDE	ANDE	87,295	$6.0m1.23%	1.23%	Reduced -9.0k	-8,964 -9.3%
25	EAST WEST BANCORP INC COM EWBC	EWBC	46,092	$6.0m1.23%	1.23%	Reduced -494	-494 -1.1%
26	IMAX CORP COM IMAX	IMAX	148,386	$5.9m1.22%	1.22%	Reduced -1.9k	-1,906 -1.3%
27	CRAWFORD & CO CL A CRD.A	CRD.A	486,827	$5.5m1.13%	1.13%	Added +139.2k	+139,232 40.1%
28	FEDERAL AGRIC MTG CORP CL C AGM	AGM	26,820	$5.3m1.10%	1.10%	Reduced -256	-256 -0.9%
29	SIGA TECHNOLOGIES INC COM SIGA	SIGA	1,339,883	$4.9m1.00%	1.00%	Added +449.4k	+449,385 50.5%
30	LIBERTY GLOBAL LTD COM CL C LBTYK	LBTYK	434,963	$4.8m0.99%	0.99%	Reduced -1.8k	-1,793 -0.4%
31	PURE CYCLE CORP COM NEW PCYO	PCYO	418,677	$4.5m0.92%	0.92%	Reduced -8.0k	-8,010 -1.9%
32	CAMTEK LTD ORD CAMT	CAMT	24,885	$4.1m0.84%	0.84%	Reduced -66.8k	-66,764 -72.8%
33	RIBBON COMMUNICATIONS INC COM RBBN	RBBN	1,404,493	$3.3m0.68%	0.68%	Reduced -2.7k	-2,685 -0.2%
34	JEFFERIES FINL GROUP INC COM JEF	JEF	51,869	$2.6m0.53%	0.53%	Reduced -959	-959 -1.8%
35	VITESSE ENERGY INC COMMON STOCK VTS	VTS	130,722	$2.1m0.42%	0.42%	Reduced -957	-957 -0.7%
36	CRAWFORD & CO CL B CRD.B	CRD.B	147,094	$1.5m0.32%	0.32%	Added +2.1k	+2,064 1.4%
37	SELECT SECTOR SPDR TR TECHNOLOGY XLK	XLK	7,900	$1.5m0.31%	0.31%	Unchanged
38	MICROSOFT CORP COM MSFT	MSFT	4,000	$1.5m0.31%	0.31%	Unchanged
39	SIRIUSXM HOLDINGS INC COMMON STOCK SIRI	SIRI	47,198	$1.4m0.29%	0.29%	Reduced -2.6k	-2,583 -5.2%
40	SELECT SECTOR SPDR TR SBI CONS DISCR XLY	XLY	11,596	$1.4m0.28%	0.28%	Unchanged
41	SCHWAB STRATEGIC TR US DIVIDEND EQ SCHD	SCHD	42,375	$1.3m0.28%	0.28%	Unchanged
42	MARATHON PETE CORP COM MPC	MPC	4,786	$1.2m0.25%	0.25%	Unchanged
43	GE AEROSPACE COM NEW GE	GE	2,937	$1.1m0.23%	0.23%	Reduced -185	-185 -5.9%
44	VANGUARD INDEX FDS S&P 500 ETF SHS VOO	VOO	1,533	$1.1m0.22%	0.22%	Unchanged
45	ISHARES TR SHORT TREAS BD SHV	SHV	8,357	$922.2k0.19%	0.19%	Added +75	+75 0.9%
46	VANGUARD WORLD FD HEALTH CAR ETF VHT	VHT	3,050	$912.0k0.19%	0.19%	Unchanged
47	CISCO SYS INC COM CSCO	CSCO	7,575	$889.8k0.18%	0.18%	Reduced -100	-100 -1.3%
48	SHELL PLC SPON ADS SHEL	SHEL	9,630	$746.7k0.15%	0.15%	Unchanged
49	SELECT SECTOR SPDR TR FINANCIAL XLF	XLF	11,950	$640.6k0.13%	0.13%	Unchanged
50	BANK AMERICA CORP COM BAC	BAC	10,916	$622.0k0.13%	0.13%	Reduced -46	-46 -0.4%
51	TETRA TECH INC NEW COM TTEK	TTEK	21,500	$621.1k0.13%	0.13%	Unchanged
52	AMAZON COM INC COM AMZN	AMZN	2,573	$613.2k0.13%	0.13%	Reduced -10	-10 -0.4%
53	ALPHABET INC CAP STK CL A GOOGL	GOOGL	1,667	$595.7k0.12%	0.12%	Reduced -10	-10 -0.6%
54	JOHNSON & JOHNSON COM JNJ	JNJ	2,278	$578.5k0.12%	0.12%	Unchanged
55	GE VERNOVA INC COM GEV	GEV	477	$560.4k0.12%	0.12%	Unchanged
56	ISHARES TR U.S. MED DVC ETF IHI	IHI	11,300	$558.3k0.11%	0.11%	Unchanged
57	QUEST DIAGNOSTICS INC COM DGX	DGX	2,350	$498.1k0.10%	0.10%	Unchanged
58	ISHARES TR US TRSPRTION IYT	IYT	5,600	$485.8k0.10%	0.10%	Unchanged
59	HOME DEPOT INC COM HD	HD	1,325	$467.3k0.10%	0.10%	Unchanged
60	WEDBUSH SER TR DAN IVES WEDBUSH IVES	IVES	11,500	$438.1k0.09%	0.09%	Unchanged
61	INVESCO EXCH TRADED FD TR II NASDAQ 100 ETF QQQM	QQQM	1,370	$415.1k0.09%	0.09%	Added +250	+250 22.3%
62	VANGUARD WHITEHALL FDS HIGH DIV YLD VYM	VYM	2,600	$410.9k0.08%	0.08%	Unchanged
63	COMMERCIAL METALS CO COM CMC	CMC	6,500	$407.9k0.08%	0.08%	Unchanged
64	POSTAL REALTY TRUST INC CL A PSTL	PSTL	16,374	$403.5k0.08%	0.08%	Unchanged
65	CUSTOMERS BANCORP INC COM CUBI	CUBI	4,900	$387.6k0.08%	0.08%	Unchanged
66	JACOBS SOLUTIONS INC COM J	J	3,025	$381.1k0.08%	0.08%	Unchanged
67	ZOETIS INC CL A ZTS	ZTS	5,275	$379.1k0.08%	0.08%	New
68	SELECT SECTOR SPDR TR COMMUNICATION XLC	XLC	3,500	$375.0k0.08%	0.08%	Unchanged
69	ALIBABA GROUP HLDG LTD SPONSORED ADS BABA	BABA	3,866	$371.1k0.08%	0.08%	Added +18	+18 0.5%
70	ISHARES TR CORE S&P500 ETF IVV	IVV	452	$338.5k0.07%	0.07%	Unchanged
71	ABBOTT LABS COM ABT	ABT	3,475	$315.3k0.06%	0.06%	Unchanged
72	PROCTER AND GAMBLE CO COM PG	PG	1,990	$291.8k0.06%	0.06%	Unchanged
73	CITIGROUP INC COM NEW C	C	2,046	$286.4k0.06%	0.06%	Reduced -32	-32 -1.5%
74	CHEVRON CORP NEW COM CVX	CVX	1,705	$282.6k0.06%	0.06%	Unchanged
75	ISHARES TR S&P SML 600 GWT IJT	IJT	1,400	$250.0k0.05%	0.05%	Unchanged
76	COCA COLA CO COM KO	KO	3,000	$243.8k0.05%	0.05%	Unchanged
77	EXXON MOBIL CORP COM XOM	XOM	1,665	$227.6k0.05%	0.05%	Unchanged
78	LANDSTAR SYS INC COM LSTR	LSTR	1,100	$227.5k0.05%	0.05%	New
79	APPLE INC COM AAPL	AAPL	770	$222.8k0.05%	0.05%	New
80	JPMORGAN CHASE & CO COM JPM	JPM	674	$220.6k0.05%	0.05%	Reduced -319	-319 -32.1%
81	PFIZER INC COM PFE	PFE	8,487	$204.4k0.04%	0.04%	Added +400	+400 5.0%
82	ORIGIN AGRITECH LIMITED SHS NEW SEED	SEED	19,500	$20.7k0.00%	0.00%	Unchanged

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
TRI POINTE HOMES INC TPH	TPH	446,482	$20.9m446.5k shares
MAGNACHIP SEMICONDUCTOR CORP MX	MX	743,953	$2.1m744.0k shares
CONSTELLATION BRANDS INC STZ	STZ	2,260	$339.0k2.3k shares
MERCK & CO INC MRK	MRK	1,853	$222.9k1.9k shares
INTEL CORP INTC	INTC	5,000	$220.7k5.0k shares
VANECK ETF TRUST PFXF	PFXF	10,059	$176.4k10.1k shares

Stakes above 5%

Companies where this manager has reported owning more than 5% of a class of shares, on Schedule 13D (may seek influence) or 13G (passive): its latest filing for each, from 19 Dec 2024 on.

Company	Ticker	Stake	Change	Schedule	Last filed
RICHARDSON ELECTRS LTD RELL · 13G · filed 2026-05-11	RELL	5.4%≈ $12.8m	new	13G	2026-05-11
CERAGON NETWORKS LTD CRNT · 13G · filed 2026-05-11	CRNT	5.3%≈ $12.6m	new	13G	2026-05-11