# EDGAR Filing Document

**Accession Number:** 0001002537
**File Stem:** 0001145549-25-051940
**Filing Date:** 2025-8
**Character Count:** 23564
**Document Hash:** d758dce65dcb2a9002f120b206d4d9a4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-25-051940.hdr.sgml**: 20250820

**ACCESSION NUMBER**: 0001145549-25-051940

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250820

**DATE AS OF CHANGE**: 20250820

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NEEDHAM FUNDS INC
- **CENTRAL INDEX KEY:** 0001002537

**ORGANIZATION NAME:**
- **EIN:** 133865553
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-09114
- **FILM NUMBER:** 251236533

**BUSINESS ADDRESS:**
- **STREET 1:** 250 PARK AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10177
- **BUSINESS PHONE:** 2123718300

**MAIL ADDRESS:**
- **STREET 1:** 250 PARK AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10177

## Series and Classes Contracts Data

### Needham Small Cap Growth Fund (Series ID: S000003816)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000010645 | Retail Class        | NESGX           |
| C000176577 | Institutional Class | NESIX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Needham Funds Inc

- **b. Investment Company Act file number:** 811-09114

- **c. CIK number of Registrant:** 0001002537

- **d. LEI of Registrant:** 549300I20FS2UEMBPJ54

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 250 Park Avenue

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10177

  - **Telephone number:** 800-625-7071

**Item A.2. Information about the Series.**

- **a. Name of Series:** Needham Small Cap Growth Fund

- **b. EDGAR series identifier (if any):** S000003816

- **c. LEI of Series:** 549300EO9KDMMKZ0F884

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-06-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $139296920.05

**Total Liabilities:** $204765.93

**Net Assets:** $139092154.12

**Cash Not Reported:** $13200.03

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000010645 | -4.56%               | 10.95%               | 11.74%               |
| Class ID C000176577 | -4.46%               | 11.02%               | 11.79%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $222383.28               | $-5663162.77                               |
| Month 2  | $2704798.50              | $10357921.60                               |
| Month 3  | $2992291.33              | $11759303.94                               |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### Schedule of Portfolio Investments

| Name                           | Title                                       | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Mobileye Global Inc            | Mobileye Global Inc                         | CUSIP: 60741F104<br>LEI: N/A                  | Long             | EC               | CORP              | IL        |     53900 | NS      | $969122.00    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| nLight Inc                     | nLight Inc                                  | CUSIP: 65487K100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    150000 | NS      | $2952000.00   | 2.12%             |  |  |  | No            |                  1 | On Loan: No      |
| PDF Solutions Inc              | PDF Solutions Inc                           | CUSIP: 693282105<br>LEI: 549300GMSP6MROFBI160 | Long             | EC               | CORP              | US        |    329150 | NS      | $7037227.00   | 5.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Photronics Inc                 | Photronics Inc                              | CUSIP: 719405102<br>LEI: 549300OK5JVNIBNY6F63 | Long             | EC               | CORP              | US        |     70000 | NS      | $1318100.00   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| PROS Holdings Inc              | PROS Holdings Inc                           | CUSIP: 74346Y103<br>LEI: 549300LPE1KNL5RWKQ48 | Long             | EC               | CORP              | US        |    150000 | NS      | $2349000.00   | 1.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Ultra Clean Holdings Inc       | Ultra Clean Holdings Inc                    | CUSIP: 90385V107<br>LEI: 5493007L6LS7QX18PE75 | Long             | EC               | CORP              | US        |     35000 | NS      | $789950.00    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Yext Inc                       | Yext Inc                                    | CUSIP: 98585N106<br>LEI: 5299008ZQSBBVH7K0589 | Long             | EC               | CORP              | US        |     30000 | NS      | $255000.00    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| AXT Inc                        | AXT Inc                                     | CUSIP: 00246W103<br>LEI: 549300M2142IVLVIJN37 | Long             | EC               | CORP              | US        |    300000 | NS      | $627000.00    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| CryoPort Inc                   | CryoPort Inc                                | CUSIP: 229050307<br>LEI: 9845004D8538BT8JF626 | Long             | EC               | CORP              | US        |    278000 | NS      | $2073880.00   | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Dreyfus Treasury Securities Ca | Dreyfus Treasury Securities Cash Management | CUSIP: 261941108<br>LEI: 549300U78VESCW509025 | Long             | STIV             | RF                | US        |  14514787 | NS      | $14514786.51  | 10.44%            |  |  |  | No            |                  1 | On Loan: No      |
| Centuri Holdings Inc           | Centuri Holdings Inc                        | CUSIP: 155923105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     22500 | NS      | $504900.00    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Circle Internet Group Inc      | Circle Internet Group Inc                   | CUSIP: 172573107<br>LEI: 254900HFVVR6NPMQVN93 | Long             | EC               | CORP              | US        |      1022 | NS      | $185278.38    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Comtech Telecommunications Cor | Comtech Telecommunications Corp             | CUSIP: 205826209<br>LEI: 529900FTEZ8MGM0Y8F73 | Long             | EC               | CORP              | US        |    100000 | NS      | $245000.00    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| FormFactor Inc                 | FormFactor Inc                              | CUSIP: 346375108<br>LEI: 549300YCEEO6SZD1ZR61 | Long             | EC               | CORP              | US        |     40000 | NS      | $1376400.00   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Camtek Ltd/Israel              | Camtek Ltd/Israel                           | CUSIP: M20791105<br>LEI: 5493000H80W07HCKGS43 | Long             | EC               | CORP              | IL        |     25000 | NS      | $2114000.00   | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Veeco Instruments Inc          | Veeco Instruments Inc                       | CUSIP: 922417100<br>LEI: 5493004201F72ADDZW04 | Long             | EC               | CORP              | US        |    120000 | NS      | $2438400.00   | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| MKS Inc                        | MKS Inc                                     | CUSIP: 55306N104<br>LEI: 549300KEQATBHAGVF505 | Long             | EC               | CORP              | US        |     20000 | NS      | $1987200.00   | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Mercury Systems Inc            | Mercury Systems Inc                         | CUSIP: 589378108<br>LEI: 549300P3B84SGK7HH679 | Long             | EC               | CORP              | US        |     10000 | NS      | $538600.00    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| ADTRAN Holdings Inc            | ADTRAN Holdings Inc                         | CUSIP: 00486H105<br>LEI: 549300VV36J86CRRWF77 | Long             | EC               | CORP              | US        |    925000 | NS      | $8297250.00   | 5.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Arteris Inc                    | Arteris Inc                                 | CUSIP: 04302A104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    535000 | NS      | $5098550.00   | 3.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Badger Meter Inc               | Badger Meter Inc                            | CUSIP: 056525108<br>LEI: 5493002JENE20OGTUG20 | Long             | EC               | CORP              | US        |      6000 | NS      | $1469700.00   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Bentley Systems Inc            | Bentley Systems Inc                         | CUSIP: 08265T208<br>LEI: 549300WVEHPGE0Z56F71 | Long             | EC               | CORP              | US        |     30000 | NS      | $1619100.00   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Calix Inc                      | Calix Inc                                   | CUSIP: 13100M509<br>LEI: 5299002RQRZ4SXSCSJ58 | Long             | EC               | CORP              | US        |     40000 | NS      | $2127600.00   | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Extreme Networks Inc           | Extreme Networks Inc                        | CUSIP: 30226D106<br>LEI: 549300WRECW11X94UB57 | Long             | EC               | CORP              | US        |     25000 | NS      | $448750.00    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Insight Enterprises Inc        | Insight Enterprises Inc                     | CUSIP: 45765U103<br>LEI: 529900S8991TYW6YP792 | Long             | EC               | CORP              | US        |     11000 | NS      | $1518935.00   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Marvell Technology Inc         | Marvell Technology Inc                      | CUSIP: 573874104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     18000 | NS      | $1393200.00   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Vail Resorts Inc               | Vail Resorts Inc                            | CUSIP: 91879Q109<br>LEI: 529900PSZHRNU9HKH870 | Long             | EC               | CORP              | US        |     12500 | NS      | $1964125.00   | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Vishay Precision Group Inc     | Vishay Precision Group Inc                  | CUSIP: 92835K103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     75000 | NS      | $2107500.00   | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Matthews International Corp    | Matthews International Corp                 | CUSIP: 577128101<br>LEI: 549300ZVC5O0ATML6U61 | Long             | EC               | CORP              | US        |     60000 | NS      | $1434600.00   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Parsons Corp                   | Parsons Corp                                | CUSIP: 70202L102<br>LEI: 549300ZXH0VRBSEPX752 | Long             | EC               | CORP              | US        |     20000 | NS      | $1435400.00   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| SiTime Corp                    | SiTime Corp                                 | CUSIP: 82982T106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5000 | NS      | $1065400.00   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Vicor Corp                     | Vicor Corp                                  | CUSIP: 925815102<br>LEI: 5299005KMQOTR6B51F09 | Long             | EC               | CORP              | US        |     50000 | NS      | $2268000.00   | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Bruker Corp                    | Bruker Corp                                 | CUSIP: 116794108<br>LEI: LEBZ6VLQ6I8XB1NHVY15 | Long             | EC               | CORP              | US        |     37500 | NS      | $1545000.00   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Ichor Holdings Ltd             | Ichor Holdings Ltd                          | CUSIP: G4740B105<br>LEI: 529900PS8R2JVLJ2H892 | Long             | EC               | CORP              | US        |     67500 | NS      | $1325700.00   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Allegro MicroSystems Inc       | Allegro MicroSystems Inc                    | CUSIP: 01749D105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     50000 | NS      | $1709500.00   | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Harmonic Inc                   | Harmonic Inc                                | CUSIP: 413160102<br>LEI: 549300LRGRD8XC9BTL66 | Long             | EC               | CORP              | US        |    565000 | NS      | $5350550.00   | 3.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Rapid7 Inc                     | Rapid7 Inc                                  | CUSIP: 753422104<br>LEI: 549300GNVG5D60KEYN14 | Long             | EC               | CORP              | US        |    160000 | NS      | $3700800.00   | 2.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Tenable Holdings Inc           | Tenable Holdings Inc                        | CUSIP: 88025T102<br>LEI: 5493004S5OMPESF0EF83 | Long             | EC               | CORP              | US        |     20000 | NS      | $675600.00    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Unisys Corp                    | Unisys Corp                                 | CUSIP: 909214306<br>LEI: 549300T21W22FIJJOW08 | Long             | EC               | CORP              | US        |    443000 | NS      | $2006790.00   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Vishay Intertechnology Inc     | Vishay Intertechnology Inc                  | CUSIP: 928298108<br>LEI: 5493009O8F3QQJTCQR75 | Long             | EC               | CORP              | US        |    260000 | NS      | $4128800.00   | 2.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Aspen Aerogels Inc             | Aspen Aerogels Inc                          | CUSIP: 04523Y105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    774500 | NS      | $4585040.00   | 3.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Chart Industries Inc           | Chart Industries Inc                        | CUSIP: 16115Q308<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | EC               | CORP              | US        |     22500 | NS      | $3704625.00   | 2.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Super Micro Computer Inc       | Super Micro Computer Inc                    | CUSIP: 86800U302<br>LEI: 54930022CZO1N2UGVW07 | Long             | EC               | CORP              | US        |     55000 | NS      | $2695550.00   | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Transcat Inc                   | Transcat Inc                                | CUSIP: 893529107<br>LEI: 54930081E40TSSHUOS40 | Long             | EC               | CORP              | US        |     25000 | NS      | $2149000.00   | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| TTM Technologies Inc           | TTM Technologies Inc                        | CUSIP: 87305R109<br>LEI: 549300SC4BDOIS008048 | Long             | EC               | CORP              | US        |    185000 | NS      | $7551700.00   | 5.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Akamai Technologies Inc        | Akamai Technologies Inc                     | CUSIP: 00971T101<br>LEI: OC1LZNN2LF5WTJ5RIL89 | Long             | EC               | CORP              | US        |      9000 | NS      | $717840.00    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Entegris Inc                   | Entegris Inc                                | CUSIP: 29362U104<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | EC               | CORP              | US        |     12000 | NS      | $967800.00    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Everus Construction Group Inc  | Everus Construction Group Inc               | CUSIP: 300426103<br>LEI: 2549006JMMHR0KILT425 | Long             | EC               | CORP              | US        |     12500 | NS      | $794125.00    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Standard BioTools Inc          | Standard BioTools Inc                       | CUSIP: 34385P108<br>LEI: 549300GX8Y96GSB6YP89 | Long             | EC               | CORP              | US        |    400000 | NS      | $480000.00    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| KVH Industries Inc             | KVH Industries Inc                          | CUSIP: 482738101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    161400 | NS      | $860262.00    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| MDU Resources Group Inc        | MDU Resources Group Inc                     | CUSIP: 552690109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     45000 | NS      | $750150.00    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Power Integrations Inc         | Power Integrations Inc                      | CUSIP: 739276103<br>LEI: 54930085LGXSCIHD5W31 | Long             | EC               | CORP              | US        |      7500 | NS      | $419250.00    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Pure Storage Inc               | Pure Storage Inc                            | CUSIP: 74624M102<br>LEI: 549300NPDB0BZTK3WO90 | Long             | EC               | CORP              | US        |     10000 | NS      | $575800.00    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Rogers Corp                    | Rogers Corp                                 | CUSIP: 775133101<br>LEI: PW0CN80KNFR7RUOOKJ84 | Long             | EC               | CORP              | US        |     55000 | NS      | $3766400.00   | 2.71%             |  |  |  | No            |                  1 | On Loan: No      |
| BigCommerce Holdings Inc       | BigCommerce Holdings Inc                    | CUSIP: 08975P108<br>LEI: 549300MOVEFQ78DMPG58 | Long             | EC               | CORP              | US        |    425000 | NS      | $2125000.00   | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| CEVA Inc                       | CEVA Inc                                    | CUSIP: 157210105<br>LEI: 529900G9T7CVU2J2VU73 | Long             | EC               | CORP              | US        |    115000 | NS      | $2527700.00   | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Cognex Corp                    | Cognex Corp                                 | CUSIP: 192422103<br>LEI: 549300JQTYZCLC43S226 | Long             | EC               | CORP              | US        |     47500 | NS      | $1506700.00   | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Cohu Inc                       | Cohu Inc                                    | CUSIP: 192576106<br>LEI: 529900FJPORJ3JJ2XS33 | Long             | EC               | CORP              | US        |    118000 | NS      | $2270320.00   | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Generac Holdings Inc           | Generac Holdings Inc                        | CUSIP: 368736104<br>LEI: 529900S2H2AHJHSFFI84 | Long             | EC               | CORP              | US        |     11000 | NS      | $1575310.00   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| MaxLinear Inc                  | MaxLinear Inc                               | CUSIP: 57776J100<br>LEI: 549300EMOI0SM2IY4F64 | Long             | EC               | CORP              | US        |    155000 | NS      | $2202550.00   | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Penguin Solutions Inc          | Penguin Solutions Inc                       | CUSIP: 706915105<br>LEI: 529900RDGHQY8XKXPN14 | Long             | EC               | CORP              | US        |    100000 | NS      | $1981000.00   | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-15

**Name of Applicant:** Needham Funds Inc

**Signature:** /s/ James W. Giangrasso

**Name of Signer:** James W. Giangrasso

**Title:** Principal, Chief Financial Officer