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The Emerging Tech Portfolio

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Company[symbol] Coverage Initiated Current Price 52-week range Mkt Cap ($mil)
INTELLECTUAL PROPERTY INCUMBENTS Leading researchers in the physical sciences, with big potential for spin-offs and revolutionary breakthroughs
GE [GE] 8/07 $25.82 $21.11-$28.09 $261,230.00
Hewlett-Packard [HPQ] 3/02 29.37 16.03-30.13 56,060.00
IBM [IBM] 3/02 182.73 172.57-215.90 198,420.00
LIFE SCIENCES Companies that are working at the cutting edge of medical technology
Life Technologies [LIFE] 11/05 75.95 56.67-76.03 13,130.00
Nanosphere [NSPH] 11/07 2.54 1.72-4.49 153.21
ELECTRONICS Companies that have corralled the key intellectual property that will be the foundation for next generation electronics
Nanosys [private] 3/02 n/a n/a n/a
ENERGY Companies that are developing high-efficiency, low-cost alternative energy technologies
First Solar [FSLR] 8/07 50.44 24.46-65.99 5,020.00
ENABLING TECHNOLOGIES Tools and instrumentation that enable critical science and technology discoveries
Veeco [VECO] 3/02 37.64 28.23-43.18 1,480.00
FEI Company [FEIC] 1/03 98.26 57.50-99.05 4,100.00
Accelrys [ACCL] 3/02 10.47 7.75-10.59 582.81
INVESTMENT VEHICLES Funds that have investments in promising emerging technology companies
Harris & Harris Group [TINY] 5/02 3.09 2.95-3.94 96.28
PowerShares Lux Nanotech Portfolio [PXN] 8/07 7.92 6.21-8.14 26.53
PowerShares WilderHill Clean Energy [PBW] 8/07 6.76 4.11-6.95 215.31
Forbes/Wolfe Emerging Tech Report
is published monthly by Forbes Inc. and Angstrom Publishing LLC, 60 Fifth Avenue, New York, NY 10011
Editor: Josh Wolfe Contributing Editors: Zack Schildhorn, Jeff Weinstein
Forbes, Inc.
Vice President/Editor, Newsletters: Matthew Schifrin
Senior Editors: John Dobosz, Tina Russo
Subscription Director: Diane Schmid
To subscribe call 1-877-733-7876 from within the U.S. or 952-646-5381 from outside the U.S.; or visit Investment Newsletters
( on the Web. Copyright 2014 by Forbes Inc. and Angstrom Publishing LLC
NOTE: The Forbes/Wolfe Emerging Tech Report is neither a mar-
ket-timing service nor a model portfolio. Companies listed in the
Emerging Tech Portfolio are early leaders in nanotechnology
and, as such, should interest investors seeking to orient their
portfolios toward this revolutionary technology. It does not
guarantee that securities mentioned in this newsletter will pro-
duce profits or that they will equal past performance. Although
all content is derived from data believed to be reliable, accuracy
cannot be guaranteed. Josh Wolfe and members of the staff of
the Forbes/Wolfe Emerging Tech Report may hold positions in
some or all of the stocks listed. Josh Wolfe and members of
Angstrom Publishing LLC may provide consulting services to
some of the companies mentioned in this publication.
Stock prices as of January 23, 2014
GE: General Electric declined almost 6% last month after the conglomerate an-
nounced that earnings rose by 4.8% to $4.2B, but results fell short of its goal to
improve operating profit margins in its industrial businesses. The company re-
turned $18.2B to investors in 2013 through dividends and share buybacks, and is
continuing the process of spinning off GE Capital in an IPO later this quarter.
HPQ: Hewlett-Packard registered yet another strong month, gaining 4.7% and
touching a new 52-week high as Bank of America [BAC] upgraded the IT serv-
ices giant to a Buy rating and Citi [C] upped its price target to $40 (from $32).
HP stock soared 104% in 2013 and is now up an additional 7% in 2014.
IBM: Big Blue was unchanged despite disappointing Q4 earnings. While EPS sur-
passed analyst estimates, quarterly revenue logged its steepest decline in four
years. IBM also disclosed that it is set to acquire Aspera, a high-speed data trans-
fer technology provider, for an undisclosed amount.
LIFE: Life Technologies shares continued to advance to hit a fresh 52-week high
as Chinese antitrust regulators cleared the Thermo Fisher Scientific [TMO]
takeover bid for Life Technologies. The Chinas Ministry of Commerce required
that Thermo Fisher sell two units, and lower the prices on two products in the
NSPH: Nanosphere shares soared almost 14% as the molecular diagnostics com-
pany announced that it received clearance from the FDA for its Gram-Negative
Blood Culture test, made 35 new customer placements, and achieved preliminary
revenue of $3.4M for the fourth quarter.
FSLR: First Solar fell more than 9%, dropping for the second straight month after
hitting a 52-week high in November. The largest builder of solar power plants in
the U.S was downgraded from Buy to Sell by Goldman Sachs [GS], with analyst
Brian Lee claiming that First Solar has virtually no exposure in the explosive
rooftop solar panel market.
VECO: Veeco Instruments shares jumped over 18% as Zacks upgraded the LED
and hard-disk drive equipment manufacturer from Underperform to Hold. JP-
Morgan Chase [JPM] also raised its price target for the stock from $31 to $33.50.
FEIC: FEI Company gained more than 9%, hitting a new 52-week high. William
Blair initiated coverage on the nanotools leader with an Outperform rating, and
Stifel Nicolaus [SF] raised its price target from $93 to $104.
ACCL: Accelrys shares gained 9.3% during the month. The lab informatics ven-
dor announced that it settled arbitration with Borealis for $16M. Additionally,
Zacks upgraded shares from Neutral to Outperform.
TINY: Harris & Harris Group gained almost 1% on the month.
PXN: The PowerShares Lux Nanotech Portfolio gained 7.8% during the month.
February 18, 2014 will be the final day of trading for the fund.
PBW: The PowerShares WilderHill Clean Energy portfolio gained 9% on the
month. The fund surged more than58% in 2013, and is up an additional 7% in
2014 YTD.
Word on the Street