# EDGAR Filing Document

**Accession Number:** 0001002537
**File Stem:** 0001193125-26-230258
**Filing Date:** 2026-5
**Character Count:** 45503
**Document Hash:** 5b96f66c77e8fa492f997d930a92df64
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-230258.hdr.sgml**: 20260519

**ACCESSION NUMBER**: 0001193125-26-230258

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 3

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260519

**DATE AS OF CHANGE**: 20260519

**PERIOD START**: 20261231

**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:** 26997042

**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 Growth Fund (Series ID: S000003649)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000010138 | Retail Class        | NEEGX           |
| C000176575 | Institutional Class | NEEIX           |

## Nport-Ex

Needham Funds

------

#### Notes to Schedule of Investments (Unaudited)
*March 31, 2026*

1. **Organization** 

Needham Growth Fund ("NGF"), Needham Aggressive Growth Fund ("NAGF") and Needham Small Cap Growth Fund ("NSCGF") (each, a "Portfolio" and collectively, the "Portfolios"), are portfolios of The Needham Funds, Inc. (the "Company"), which is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as a diversified, open-end management investment company. The Company was organized as a Maryland corporation on October 12, 1995. NGF, NAGF, and NSCGF each currently offer two classes, the Retail Class and the Institutional Class. The Institutional Class commenced operations on December 30, 2016.

Each Portfolio is an investment company and accordingly follows the investment company accounting and reporting guidance of the Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 946 "Financial Services – Investment Companies."

2. **Significant Accounting Policies** 

The following is a summary of significant accounting policies followed by the Company in the preparation of its financial statements. These policies are in conformity with accounting principles generally accepted in the United States of America ("GAAP").

*Security Valuation*: Portfolio securities for which market quotations are readily available are stated at the last sale price reported by the principal exchange for the security as of the exchange's close of business. Securities for which no sale has taken place during the day and securities which are not listed on an exchange are valued at the mean of the highest closing bid and lowest asked prices. Exchange traded options are valued at the last reported sale price on any exchange on which the option is principally traded. If no sales are reported on a particular day, the options will be valued at the mean between the highest closing bid and lowest asked prices across the exchanges where the option is traded. Non-exchange traded options will also be valued at the mean between the last bid and asked quotations. For options where market quotations are not readily available, value will be determined in accordance with the fair value procedures described below. All other securities and assets for which (a) market quotations are not readily available, such as in the case of a market or technical disruption that prevents the normal trading of a security held by a Portfolio, (b) market quotations are believed to be unrepresentative of fair market value, such as in the case of a thinly traded security, or (c) valuation is normally made at the last sale price on a foreign exchange and a significant event occurs after the close of that exchange but before the New York Stock Exchange closes, are valued at their fair value as determined in good faith by the Board of Directors (the "Board") in accordance with Fair Value Procedures established by the Board. The Company's Fair Value Procedures are implemented and monitored by a Fair Value Committee (the "Committee") designated by the Board. When a security is valued in accordance with the Fair Value Procedures, the Committee determines a value after taking into consideration any relevant information that is reasonably available to the Committee. Some of the more common reasons that may necessitate that a security be valued pursuant to these Fair Value Procedures include but are not limited to: the security's trading has been halted or suspended; the security has been delisted from a national exchange; the security's primary trading market is temporarily closed at a time when under normal conditions it would be open; or the security's primary pricing source is not able or willing to provide a price. The securities of each Portfolio may also be valued on the basis of valuations provided by a pricing service approved by, or on behalf of, the Board.

Portfolio securities listed or traded on securities exchanges, including American Depositary Receipts ("ADRs"), are valued at the closing price on the exchange or system where the security is principally traded or at the NASDAQ Official Closing Price. If there have been no sales for that day on the exchange or system, a security is valued at the mean of the highest closing bid and lowest asked prices on the exchange or system where the security is principally traded.

3. Transactions with Affiliates

NAGF owned 5% or more of the voting securities of the following companies during the three months ended March 31, 2026. As a result, these companies are deemed to be affiliates of NAGF as defined by the 1940 Act. Transactions during the period in these affiliated companies were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Security Name** | **Value at**<br> **&nbsp;&nbsp;&nbsp;&nbsp;January 1, 2026** | **Value of** <br> **Purchases** | **Value of Sales** | **Net Change in Unrealized**<br> **Appreciation (Depreciation)** | **Net Realized**<br> **Gains (Losses)** | **Dividend**<br> **Income** | **Value at** <br> **March 31, 2026** | **Share Balance**<br> **March 31, 2026** |
| Alpha Pro Tech, Ltd. | $2852700 | $- | $- | $- | $- | $- | $2852700 | 642500 |
| Arteris, Inc. | 42803250 | 5573050 | - | 2998700 | - | - | 51375000 | 3125000 |
| Asure Software, Inc. | 24209400 | 331345 | - | (2116245) | - | - | 22424500 | 2607500 |
| Educational Development Corp. | 1056000 | - | - | (48000) | - | - | 1008000 | 800000 |
| Matrix Service Co. | 16789500 | - | - | (315700) | - | - | 16473800 | 1435000 |
| Northern Technologies International Corp. | 5584802 | 461851 | - | 256947 | - | 7375 | 6303600 | 765000 |
| Oil-Dri Corp of America | 31076900 | 2447544 | - | 10574031 | - | 136325 | 44098475 | 677500 |
| Precision Optics Corp, Inc. | 3013200 | 3443362 | - | 877153 | - | - | 7333715 | 1670550 |
| Research Solutions, Inc. | 9246300 | 27813 | - | (2143813) | - | - | 7130300 | 3155000 |
| Thinkific Labs, Inc. | 4876325 | 219945 | - | (1421480) | - | - | 3674790 | 3600000 |
| ThredUp, Inc. | 38819250 | 14695738 | - | (23092988) | - | - | 30422000 | 9275000 |
| Unisys Corp. | 11234856 | - | (353473) | (1589692) | (1166941) | - | 8124750 | 3925000 |
|  | $191562483 | $27200648 | $(353473) | $(16021087) | $(1166941) | $143700 | $201221630 |  |

---

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Needham Growth Fund** | **Needham Growth Fund** | **Needham Growth Fund** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **March 31, 2026 (Unaudited)** | **March 31, 2026 (Unaudited)** | **March 31, 2026 (Unaudited)** |
| **COMMON STOCKS - 87.4%** | **Shares**  | **Value**  |
| **Aerospace & Defense - 3.9%** | **Aerospace & Defense - 3.9%** | |
| AeroVironment, Inc. <sup>(a)</sup> | 4750 | $869487 |
| BWX Technologies, Inc. | 2250 | 460103 |
| HEICO Corp. | 2500 | 685500 |
| Huntington Ingalls Industries, Inc. | 10250 | 3893975 |
| Lockheed Martin Corp. | 1500 | 906585 |
| RTX Corp. | 2600 | 501540 |
|  |  | 7317190 |
| **Biotechnology - 0.4%** | **Biotechnology - 0.4%** |  |
| Gilead Sciences, Inc. | 5000 | 696850 |
| **Capital Markets - 0.0% <sup>(b)</sup>** | **Capital Markets - 0.0% <sup>(b)</sup>** |  |
| Wealthfront Corp. <sup>(a)</sup> | 879 | 8131 |
| **Chemicals - 1.4%** | **Chemicals - 1.4%** |  |
| Aspen Aerogels, Inc. <sup>(a)</sup> | 424075 | 1450336 |
| DuPont de Nemours, Inc. | 17000 | 778600 |
| Solstice Advanced Materials, Inc. | 4000 | 304640 |
|  |  | 2533576 |
| **Commercial Services & Supplies - 2.4%** | **Commercial Services & Supplies - 2.4%** |  |
| Clean Harbors, Inc. <sup>(a)</sup> | 12750 | 3655808 |
| Waste Management, Inc. | 3750 | 861712 |
|  |  | 4517520 |
| **Communications Equipment - 0.5%** | **Communications Equipment - 0.5%** |  |
| ADTRAN Holdings, Inc. <sup>(a)</sup> | 45525 | 572704 |
| KVH Industries, Inc. <sup>(a)</sup> | 47500 | 425600 |
|  |  | 998304 |
| **Construction & Engineering - 1.2%** | **Construction & Engineering - 1.2%** |  |
| Centuri Holdings, Inc. <sup>(a)</sup> | 47500 | 1387475 |
| MasTec, Inc. <sup>(a)</sup> | 2650 | 852611 |
|  |  | 2240086 |
| **Construction Materials - 0.3%** | **Construction Materials - 0.3%** |  |
| CRH PLC | 5700 | 599184 |
| **Diversified Consumer Services - 0.5%** | **Diversified Consumer Services - 0.5%** |  |
| Bright Horizons Family Solutions, Inc. <sup>(a)</sup> | 11500 | 944495 |
| **Diversified Telecommunication Services - 0.5%** | **Diversified Telecommunication Services - 0.5%** |  |
| Comcast Corp. - Class A | 31500 | 904365 |
| **Electrical Equipment - 10.4%** | **Electrical Equipment - 10.4%** |  |
| Generac Holdings, Inc. <sup>(a)</sup> | 5125 | 1001066 |
| Hammond Power Solutions, Inc. (Canada) | 18000 | 2269183 |
| nVent Electric PLC | 47000 | 5559160 |
| Vertiv Holdings Co. - Class A | 24500 | 6139210 |
| Vicor Corp. <sup>(a)</sup> | 27000 | 4347000 |
|  |  | 19315619 |
| **Electronic Equipment, Instruments & Components - 8.2%** | **Electronic Equipment, Instruments & Components - 8.2%** |  |
| Coherent Corp. <sup>(a)</sup> | 18000 | 4287780 |
| Corning, Inc. | 42000 | 5710740 |
| TTM Technologies, Inc. <sup>(a)</sup> | 17500 | 1704850 |
| Vishay Intertechnology, Inc. | 195000 | 3510000 |
|  |  | 15213370 |
| **Energy Equipment & Services - 0.1%** | **Energy Equipment & Services - 0.1%** |  |
| SLB Ltd. (Curacao) | 3500 | 179865 |
| **Entertainment - 0.3%** | **Entertainment - 0.3%** |  |
| Atlanta Braves Holdings, Inc. - Class C <sup>(a)</sup> | 5000 | 213500 |
| Netflix, Inc. <sup>(a)</sup> | 3000 | 288450 |
|  |  | 501950 |
| **Health Care Equipment & Supplies - 2.3%** | **Health Care Equipment & Supplies - 2.3%** |  |
| Becton Dickinson & Co. | 16750 | 2633603 |
| Medtronic PLC (Ireland) | 19500 | 1689675 |
|  |  | 4323278 |
| **Health Care Providers & Services - 1.4%** | **Health Care Providers & Services - 1.4%** |  |
| Labcorp Holdings, Inc. | 6250 | 1667563 |
| Quest Diagnostics, Inc. | 4500 | 881910 |
|  |  | 2549473 |
| **Hotels, Restaurants & Leisure - 0.4%** | **Hotels, Restaurants & Leisure - 0.4%** |  |
| Vail Resorts, Inc. | 5000 | 641600 |
| **Industrial Conglomerates - 0.3%** | **Industrial Conglomerates - 0.3%** |  |
| Honeywell International, Inc. | 2500 | 565075 |
| **Insurance - 1.6%** | **Insurance - 1.6%** |  |
| Markel Group, Inc. <sup>(a)</sup> | 1550 | 2966809 |
| **Interactive Media & Services - 0.8%** | **Interactive Media & Services - 0.8%** |  |
| Alphabet, Inc. - Class A | 5000 | 1437800 |
| **IT Services - 1.4%** | **IT Services - 1.4%** |  |
| Akamai Technologies, Inc. <sup>(a)</sup> | 20000 | 2297000 |
| Unisys Corp. <sup>(a)</sup> | 175000 | 362250 |
|  |  | 2659250 |
| **Life Sciences Tools & Services - 4.6%** | **Life Sciences Tools & Services - 4.6%** |  |
| Bruker Corp. | 37500 | 1354500 |
| Thermo Fisher Scientific, Inc. | 13250 | 6512772 |
| Waters Corp. <sup>(a)</sup> | 2266 | 674815 |
|  |  | 8542087 |
| **Machinery - 0.6%** | **Machinery - 0.6%** |  |
| Tennant Co. | 17500 | 1162000 |
| **Media - 0.4%** | **Media - 0.4%** |  |
| The Trade Desk, Inc. - Class A <sup>(a)</sup> | 34000 | 771460 |
| Versant Media Group, Inc. | 1260 | 46645 |
|  |  | 818105 |
| **Oil, Gas & Consumable Fuels - 0.5%** | **Oil, Gas & Consumable Fuels - 0.5%** |  |
| Chevron Corp. | 4250 | 879325 |
| **Professional Services - 2.9%** | **Professional Services - 2.9%** |  |
| Jacobs Solutions, Inc. | 5500 | 700040 |
| Parsons Corp. <sup>(a)</sup> | 86000 | 4658620 |
|  |  | 5358660 |
| **Real Estate Management & Development - 1.0%** | **Real Estate Management & Development - 1.0%** |  |
| CoStar Group, Inc. <sup>(a)</sup> | 45000 | 1815300 |
| **Semiconductors & Semiconductor Equipment - 32.2% <sup>(c)</sup>** | **Semiconductors & Semiconductor Equipment - 32.2% <sup>(c)</sup>** |  |
| Analog Devices, Inc. | 10000 | 3181400 |
| Applied Materials, Inc. | 8250 | 2819767 |
| ASML Holding NV (Netherlands) | 2550 | 3368117 |
| Entegris, Inc. | 32500 | 3810300 |
| FormFactor, Inc. <sup>(a)</sup> | 74500 | 7225755 |
| Lam Research Corp. | 25000 | 5341500 |
| Marvell Technology, Inc. | 30250 | 2996263 |
| MKS, Inc. | 21750 | 4998367 |
| Nova, Ltd. (Israel) <sup>(a)</sup> | 10500 | 4559940 |
| PDF Solutions, Inc. <sup>(a)</sup> | 236800 | 7745728 |
| Photronics, Inc. <sup>(a)</sup> | 90000 | 3636900 |
| Qnity Electronics, Inc. | 17500 | 2019150 |
| SiTime Corp. <sup>(a)</sup> | 6000 | 2072100 |
| Teradyne, Inc. | 9000 | 2668140 |
| Veeco Instruments, Inc. <sup>(a)</sup> | 99050 | 3353833 |
|  |  | 59797260 |
| **Software - 0.5%** | **Software - 0.5%** |  |
| Crowdstrike Holdings, Inc. - Class A <sup>(a)</sup> | 1850 | 722259 |
| Salesforce, Inc. | 1500 | 280005 |
|  |  | 1002264 |
| **Specialty Retail - 1.4%** | **Specialty Retail - 1.4%** |  |
| CarMax, Inc. <sup>(a)</sup> | 61000 | 2536380 |
| **Technology Hardware, Storage & Peripherals - 5.0%** | **Technology Hardware, Storage & Peripherals - 5.0%** |  |
| Apple, Inc. | 4750 | 1205502 |
| Hewlett Packard Enterprise Co. | 74000 | 1761940 |
| Super Micro Computer, Inc. <sup>(a)</sup> | 275000 | 6261750 |
|  |  | 9229192 |
| **TOTAL COMMON STOCKS** (Cost $62,701,701) | **TOTAL COMMON STOCKS** (Cost $62,701,701) | 162254363 |
| **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** | **SHORT-TERM INVESTMENTS** |
| **SHORT-TERM INVESTMENTS - 12.7%** | **Shares**  | **Value**  |
| Dreyfus Treasury Securities Cash Management - Institutional Class, 3.53% <sup>(d)</sup> | 23665685 | 23665685 |
| **TOTAL SHORT-TERM INVESTMENTS** (Cost $23,665,685) | **TOTAL SHORT-TERM INVESTMENTS** (Cost $23,665,685) | 23665685 |
| **TOTAL INVESTMENTS - 100.1% (**Cost $86,367,386**)** | **TOTAL INVESTMENTS - 100.1% (**Cost $86,367,386**)** | 185920048 |
| Liabilities in Excess of Other Assets - (0.1)% | Liabilities in Excess of Other Assets - (0.1)% | (154403) |
| **TOTAL NET ASSETS - 100.0%** |  | $185765645 |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. |  |

---

---

| |
|:---|
| PLC - Public Limited Company |
| The Global Industry Classification Standard ("GICS<sup>®</sup>") was developed by and/or is the exclusive property of MSCI, Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P"). GICS<sup>®</sup> is a service mark of MSCI and S&P and has been licensed for use by U.S. Bank Global Fund Services. |

---

(a) Non-income producing security.

(b) Represents less than 0.05% of net assets.

(c) To the extent that the Fund invests more heavily in a particular industry or sector of the economy, its performance will be especially sensitive to developments that significantly affect those industries or sectors.

(d) The rate shown represents the 7-day annualized yield as of March 31, 2026.

------

#### Summary of Fair Value Disclosure as of March 31, 2026 (Unaudited)
Needham Growth Fund (the "Fund") has adopted fair value accounting standards which establish a definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period, and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. The inputs or valuation methodology used for valuing securities are not an indication of the risk associated with investing in those securities.

Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.

Level 2 - Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.

Level 3 - Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund's own assumptions about the assumptions a market participant would use in valuing the asset or liability, and based on the best information available.

The following is a summary of the fair valuation hierarchy of the Fund's securities as of March 31, 2026:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **<u>Level 1</u>** | **<u>Level 2</u>** | **<u>Level 3</u>** | **<u>Total</u>** |
| <u>Investments:</u> |  |  |  |  |
|  &nbsp;&nbsp;&nbsp;&nbsp;Common Stocks | $162254363 | $– | $– | $162254363 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Short-Term Investments | 23665685 | – | – | 23665685 |
| Total Investments | $185920048 | $– | $– | $185920048 |
| Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. |

---

---

| | | |
|:---|:---|:---|
| **Allocation of Portfolio Holdings by Country as of March 31, 2026** | **Allocation of Portfolio Holdings by Country as of March 31, 2026** | |
| (% of Investments) | (% of Investments) |  |
| United States | $173853268 | 93.5% |
| Israel | 4559940 | 2.5 |
| Netherlands | 3368117 | 1.8 |
| Canada | 2269183 | 1.2 |
| Ireland | 1689675 | 0.9 |
| Curacao | 179865 | 0.1 |
|  | $**185920048** | 100.0<br> **%** |

---

## 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 Growth Fund

- **b. EDGAR series identifier (if any):** S000003649

- **c. LEI of Series:** 549300T5D2UHYI3DHM63

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

- **a. Date of fiscal year-end:** 2026-12-31

- **b. Date as of which information is reported:** 2026-03-31

**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:** $186005915.45

**Total Liabilities:** $254381.79

**Net Assets:** $185751533.66

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000010138 | 14.83%               | 6.99%                | -5.84%               |
| Class ID C000176575 | 14.87%               | 7.02%                | -5.81%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $11513685.56             | $10796018.33                               |
| Month 2  | $2549385.96              | $10054668.52                               |
| Month 3  | $818361.58               | $-12152725.86                              |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Becton Dickinson & Co          | Becton Dickinson & Co                       | CUSIP: 075887109<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | EC               | CORP              | US        |     16750 | NS      | $2633602.50   | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Chevron Corp                   | Chevron Corp                                | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4250 | NS      | $879325.00    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| CoStar Group Inc               | CoStar Group Inc                            | CUSIP: 22160N109<br>LEI: 984500Q1D53D08E2E698 | Long             | EC               | CORP              | US        |     45000 | NS      | $1815300.00   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Jacobs Solutions Inc           | Jacobs Solutions Inc                        | CUSIP: 46982L108<br>LEI: 254900E3KHXCC2C8K272 | Long             | EC               | CORP              | US        |      5500 | NS      | $700040.00    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| KVH Industries Inc             | KVH Industries Inc                          | CUSIP: 482738101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     47500 | NS      | $425600.00    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Thermo Fisher Scientific Inc   | Thermo Fisher Scientific Inc                | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |     13250 | NS      | $6512772.50   | 3.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertiv Holdings Co             | Vertiv Holdings Co                          | CUSIP: 92537N108<br>LEI: 549300KTTIRAOGXCRV69 | Long             | EC               | CORP              | US        |     24500 | NS      | $6139210.00   | 3.31%             |  |  |  | No            |                  1 | On Loan: No      |
| ASML Holding NV                | ASML Holding NV                             | CUSIP: N07059210<br>LEI: 724500Y6DUVHQD6OXN27 | Long             | EC               | CORP              | NL        |      2550 | NS      | $3368116.50   | 1.81%             |  |  |  | No            |                  1 | On Loan: No      |
| ADTRAN Holdings Inc            | ADTRAN Holdings Inc                         | CUSIP: 00486H105<br>LEI: 549300VV36J86CRRWF77 | Long             | EC               | CORP              | US        |     45525 | NS      | $572704.50    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Materials Inc          | Applied Materials Inc                       | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |      8250 | NS      | $2819767.50   | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Centuri Holdings Inc           | Centuri Holdings Inc                        | CUSIP: 155923105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     47500 | NS      | $1387475.00   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Comcast Corp                   | Comcast Corp                                | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |     31500 | NS      | $904365.00    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Crowdstrike Holdings Inc       | Crowdstrike Holdings Inc                    | CUSIP: 22788C105<br>LEI: 549300YBY08K9KM4HX32 | Long             | EC               | CORP              | US        |      1850 | NS      | $722258.50    | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| DuPont de Nemours Inc          | DuPont de Nemours Inc                       | CUSIP: 26614N102<br>LEI: 5493004JF0SDFLM8GD76 | Long             | EC               | CORP              | US        |     17000 | NS      | $778600.00    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Lockheed Martin Corp           | Lockheed Martin Corp                        | CUSIP: 539830109<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | EC               | CORP              | US        |      1500 | NS      | $906585.00    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Hammond Power Solutions Inc    | Hammond Power Solutions Inc                 | CUSIP: 408549103<br>LEI: 549300OLI26OOKEG5V73 | Long             | EC               | CORP              | CA        |     18000 | NS      | $2269182.66   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Akamai Technologies Inc        | Akamai Technologies Inc                     | CUSIP: 00971T101<br>LEI: OC1LZNN2LF5WTJ5RIL89 | Long             | EC               | CORP              | US        |     20000 | NS      | $2297000.00   | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Clean Harbors Inc              | Clean Harbors Inc                           | CUSIP: 184496107<br>LEI: 5493000SJVZVZJKHJF48 | Long             | EC               | CORP              | US        |     12750 | NS      | $3655807.50   | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Lam Research Corp              | Lam Research Corp                           | CUSIP: 512807306<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |     25000 | NS      | $5341500.00   | 2.88%             |  |  |  | No            |                  1 | On Loan: No      |
| MasTec Inc                     | MasTec Inc                                  | CUSIP: 576323109<br>LEI: 549300TMDIT8WREDOF45 | Long             | EC               | CORP              | US        |      2650 | NS      | $852611.00    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Versant Media Group Inc        | Versant Media Group Inc                     | CUSIP: 925283103<br>LEI: 254900D2Q5F5F229PU30 | Long             | EC               | CORP              | US        |      1260 | NS      | $46645.20     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| CRH PLC                        | CRH PLC                                     | CUSIP: G25508105<br>LEI: 549300MIDJNNTH068E74 | Long             | EC               | CORP              | IE        |      5700 | NS      | $599184.00    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Photronics Inc                 | Photronics Inc                              | CUSIP: 719405102<br>LEI: 549300OK5JVNIBNY6F63 | Long             | EC               | CORP              | US        |     90000 | NS      | $3636900.00   | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Atlanta Braves Holdings Inc    | Atlanta Braves Holdings Inc                 | CUSIP: 047726302<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5000 | NS      | $213500.00    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Bruker Corp                    | Bruker Corp                                 | CUSIP: 116794108<br>LEI: LEBZ6VLQ6I8XB1NHVY15 | Long             | EC               | CORP              | US        |     37500 | NS      | $1354500.00   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Markel Group Inc               | Markel Group Inc                            | CUSIP: 570535104<br>LEI: 549300SCNO12JLWIK605 | Long             | EC               | CORP              | US        |      1550 | NS      | $2966808.50   | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Marvell Technology Inc         | Marvell Technology Inc                      | CUSIP: 573874104<br>LEI: 254900WVU0BM7ZCJ9E93 | Long             | EC               | CORP              | US        |     30250 | NS      | $2996262.50   | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Qnity Electronics Inc          | Qnity Electronics Inc                       | CUSIP: 74743L100<br>LEI: 254900RSUG4J9TFFZX53 | Long             | EC               | CORP              | US        |     17500 | NS      | $2019150.00   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Quest Diagnostics Inc          | Quest Diagnostics Inc                       | CUSIP: 74834L100<br>LEI: 8MCWUBXQ0WE04KMXBX50 | Long             | EC               | CORP              | US        |      4500 | NS      | $881910.00    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| RTX Corp                       | RTX Corp                                    | CUSIP: 75513E101<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | EC               | CORP              | US        |      2600 | NS      | $501540.00    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| SiTime Corp                    | SiTime Corp                                 | CUSIP: 82982T106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6000 | NS      | $2072100.00   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| TTM Technologies Inc           | TTM Technologies Inc                        | CUSIP: 87305R109<br>LEI: 549300SC4BDOIS008048 | Long             | EC               | CORP              | US        |     17500 | NS      | $1704850.00   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Tennant Co                     | Tennant Co                                  | CUSIP: 880345103<br>LEI: JYAIRLT8DVP6DP8UT336 | Long             | EC               | CORP              | US        |     17500 | NS      | $1162000.00   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Medtronic PLC                  | Medtronic PLC                               | CUSIP: G5960L103<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               | CORP              | IE        |     19500 | NS      | $1689675.00   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| nVent Electric PLC             | nVent Electric PLC                          | CUSIP: G6700G107<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |     47000 | NS      | $5559160.00   | 2.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Coherent Corp                  | Coherent Corp                               | CUSIP: 19247G107<br>LEI: 549300O5C25A0MMHHU33 | Long             | EC               | CORP              | US        |     18000 | NS      | $4287780.00   | 2.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Entegris Inc                   | Entegris Inc                                | CUSIP: 29362U104<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | EC               | CORP              | US        |     32500 | NS      | $3810300.00   | 2.05%             |  |  |  | No            |                  1 | On Loan: No      |
| FormFactor Inc                 | FormFactor Inc                              | CUSIP: 346375108<br>LEI: 549300YCEEO6SZD1ZR61 | Long             | EC               | CORP              | US        |     74500 | NS      | $7225755.00   | 3.89%             |  |  |  | No            |                  1 | On Loan: No      |
| HEICO Corp                     | HEICO Corp                                  | CUSIP: 422806109<br>LEI: 529900O1DTDLCJ7L0I14 | Long             | EC               | CORP              | US        |      2500 | NS      | $685500.00    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| AeroVironment Inc              | AeroVironment Inc                           | CUSIP: 008073108<br>LEI: 529900PGHVI29YLZ6221 | Long             | EC               | CORP              | US        |      4750 | NS      | $869487.50    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc                   | Alphabet Inc                                | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |      5000 | NS      | $1437800.00   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc                      | Apple Inc                                   | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |      4750 | NS      | $1205502.50   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Gilead Sciences Inc            | Gilead Sciences Inc                         | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |      5000 | NS      | $696850.00    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Honeywell International Inc    | Honeywell International Inc                 | CUSIP: 438516106<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | EC               | CORP              | US        |      2500 | NS      | $565075.00    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Super Micro Computer Inc       | Super Micro Computer Inc                    | CUSIP: 86800U302<br>LEI: 54930022CZO1N2UGVW07 | Long             | EC               | CORP              | US        |    275000 | NS      | $6261750.00   | 3.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Vicor Corp                     | Vicor Corp                                  | CUSIP: 925815102<br>LEI: 5299005KMQOTR6B51F09 | Long             | EC               | CORP              | US        |     27000 | NS      | $4347000.00   | 2.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Vishay Intertechnology Inc     | Vishay Intertechnology Inc                  | CUSIP: 928298108<br>LEI: 5493009O8F3QQJTCQR75 | Long             | EC               | CORP              | US        |    195000 | NS      | $3510000.00   | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Waste Management Inc           | Waste Management Inc                        | CUSIP: 94106L109<br>LEI: 549300YX8JIID70NFS41 | Long             | EC               | CORP              | US        |      3750 | NS      | $861712.50    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Wealthfront Corp               | Wealthfront Corp                            | CUSIP: 947002101<br>LEI: 254900H4LJLUHGFJYM32 | Long             | EC               | CORP              | US        |       879 | NS      | $8130.75      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Analog Devices Inc             | Analog Devices Inc                          | CUSIP: 032654105<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | EC               | CORP              | US        |     10000 | NS      | $3181400.00   | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Aspen Aerogels Inc             | Aspen Aerogels Inc                          | CUSIP: 04523Y105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    424075 | NS      | $1450336.50   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| BWX Technologies Inc           | BWX Technologies Inc                        | CUSIP: 05605H100<br>LEI: 549300NP85N265KWMS58 | Long             | EC               | CORP              | US        |      2000 | NS      | $408980.00    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Bright Horizons Family Solutio | Bright Horizons Family Solutions Inc        | CUSIP: 109194100<br>LEI: 2549009BKSVTM7UEYT38 | Long             | EC               | CORP              | US        |     11500 | NS      | $944495.00    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| CarMax Inc                     | CarMax Inc                                  | CUSIP: 143130102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     61000 | NS      | $2536380.00   | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Corning Inc                    | Corning Inc                                 | CUSIP: 219350105<br>LEI: 549300X2937PB0CJ7I56 | Long             | EC               | CORP              | US        |     42000 | NS      | $5710740.00   | 3.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Dreyfus Treasury Securities Ca | Dreyfus Treasury Securities Cash Management | CUSIP: 261941108<br>LEI: 549300U78VESCW509025 | Long             | STIV             | RF                | US        |  23665685 | NS      | $23665685.43  | 12.74%            |  |  |  | No            |                  1 | On Loan: No      |
| Hewlett Packard Enterprise Co  | Hewlett Packard Enterprise Co               | CUSIP: 42824C109<br>LEI: 549300BX44RGX6ANDV88 | Long             | EC               | CORP              | US        |     74000 | NS      | $1761940.00   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Huntington Ingalls Industries  | Huntington Ingalls Industries Inc           | CUSIP: 446413106<br>LEI: 5TZLZ6WJTBVJ0QWBG121 | Long             | EC               | CORP              | US        |     10250 | NS      | $3893975.00   | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| MKS Inc                        | MKS Inc                                     | CUSIP: 55306N104<br>LEI: 549300KEQATBHAGVF505 | Long             | EC               | CORP              | US        |     21750 | NS      | $4998367.50   | 2.69%             |  |  |  | No            |                  1 | On Loan: No      |
| PDF Solutions Inc              | PDF Solutions Inc                           | CUSIP: 693282105<br>LEI: 549300GMSP6MROFBI160 | Long             | EC               | CORP              | US        |    236800 | NS      | $7745728.00   | 4.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Parsons Corp                   | Parsons Corp                                | CUSIP: 70202L102<br>LEI: 549300ZXH0VRBSEPX752 | Long             | EC               | CORP              | US        |     86000 | NS      | $4658620.00   | 2.51%             |  |  |  | No            |                  1 | On Loan: No      |
| SLB Ltd                        | SLB Ltd                                     | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | US        |      3500 | NS      | $179865.00    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Solstice Advanced Materials In | Solstice Advanced Materials Inc             | CUSIP: 83443Q103<br>LEI: 2138004GZ4H9TW6HK435 | Long             | EC               | CORP              | US        |      4000 | NS      | $304640.00    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Teradyne Inc                   | Teradyne Inc                                | CUSIP: 880770102<br>LEI: C3X4YJ278QNZHRJULN75 | Long             | EC               | CORP              | US        |      9000 | NS      | $2668140.00   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Trade Desk Inc/The             | Trade Desk Inc/The                          | CUSIP: 88339J105<br>LEI: 549300GXPD31VT3E0P46 | Long             | EC               | CORP              | US        |     34000 | NS      | $771460.00    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Unisys Corp                    | Unisys Corp                                 | CUSIP: 909214306<br>LEI: 549300T21W22FIJJOW08 | Long             | EC               | CORP              | US        |    175000 | NS      | $362250.00    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Veeco Instruments Inc          | Veeco Instruments Inc                       | CUSIP: 922417100<br>LEI: 5493004201F72ADDZW04 | Long             | EC               | CORP              | US        |     99050 | NS      | $3353833.00   | 1.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Nova Ltd                       | Nova Ltd                                    | CUSIP: M7516K103<br>LEI: 529900B2DSWE5V3SC292 | Long             | EC               | CORP              | IL        |     10500 | NS      | $4559940.00   | 2.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Generac Holdings Inc           | Generac Holdings Inc                        | CUSIP: 368736104<br>LEI: 529900S2H2AHJHSFFI84 | Long             | EC               | CORP              | US        |      5000 | NS      | $976650.00    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Labcorp Holdings Inc           | Labcorp Holdings Inc                        | CUSIP: 504922105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6250 | NS      | $1667562.50   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Netflix Inc                    | Netflix Inc                                 | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |      3000 | NS      | $288450.00    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Salesforce Inc                 | Salesforce Inc                              | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |      1500 | NS      | $280005.00    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Vail Resorts Inc               | Vail Resorts Inc                            | CUSIP: 91879Q109<br>LEI: 529900PSZHRNU9HKH870 | Long             | EC               | CORP              | US        |      5000 | NS      | $641600.00    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Waters Corp                    | Waters Corp                                 | CUSIP: 941848103<br>LEI: 5T547R1474YC9HOD8Q74 | Long             | EC               | CORP              | US        |      2266 | NS      | $674814.80    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-05-19

**Name of Applicant:** Needham Funds Inc

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

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

**Title:** Principal, Chief Financial Officer