# EDGAR Filing Document

**Accession Number:** 0001002537
**File Stem:** 0000894189-26-003711
**Filing Date:** 2026-2
**Character Count:** 23851
**Document Hash:** 26c012477f5b8aa06ba281b5e4d9d676
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-26-003711.hdr.sgml**: 20260213

**ACCESSION NUMBER**: 0000894189-26-003711

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260213

**DATE AS OF CHANGE**: 20260213

**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:** 26632209

**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:** 2025-12-31

**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:** $152092061.90

**Total Liabilities:** $226631.93

**Net Assets:** $151865429.97

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000010645 | 8.23%                | -7.60%               | 2.41%                |
| Class ID C000176577 | 8.28%                | -7.56%               | 2.43%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-90409.14               | $12566104.34                               |
| Month 2  | $3066768.37              | $-15130683.26                              |
| Month 3  | $-1014180.12             | $4609884.28                                |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Badger Meter Inc               | Badger Meter Inc                            | CUSIP: 056525108<br>LEI: 5493002JENE20OGTUG20 | Long             | EC               | CORP              | US        |     25000 | NS      | $4360250.00   | 2.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Centuri Holdings Inc           | Centuri Holdings Inc                        | CUSIP: 155923105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    100000 | NS      | $2525000.00   | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| 908 Devices Inc                | 908 Devices Inc                             | CUSIP: 65443P102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    100000 | NS      | $525000.00    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Marvell Technology Inc         | Marvell Technology Inc                      | CUSIP: 573874104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     18000 | NS      | $1529640.00   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Mercury Systems Inc            | Mercury Systems Inc                         | CUSIP: 589378108<br>LEI: 549300P3B84SGK7HH679 | Long             | EC               | CORP              | US        |     10000 | NS      | $730100.00    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Mobileye Global Inc            | Mobileye Global Inc                         | CUSIP: 60741F104<br>LEI: N/A                  | Long             | EC               | CORP              | IL        |     80000 | NS      | $835200.00    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Rogers Corp                    | Rogers Corp                                 | CUSIP: 775133101<br>LEI: PW0CN80KNFR7RUOOKJ84 | Long             | EC               | CORP              | US        |     60000 | NS      | $5494200.00   | 3.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Unisys Corp                    | Unisys Corp                                 | CUSIP: 909214306<br>LEI: 549300T21W22FIJJOW08 | Long             | EC               | CORP              | US        |    366900 | NS      | $1012644.00   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Vail Resorts Inc               | Vail Resorts Inc                            | CUSIP: 91879Q109<br>LEI: 529900PSZHRNU9HKH870 | Long             | EC               | CORP              | US        |     30000 | NS      | $3984000.00   | 2.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Wealthfront Corp               | Wealthfront Corp                            | CUSIP: 947002101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       892 | NS      | $12122.28     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Photronics Inc                 | Photronics Inc                              | CUSIP: 719405102<br>LEI: 549300OK5JVNIBNY6F63 | Long             | EC               | CORP              | US        |    115000 | NS      | $3680000.00   | 2.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Veeco Instruments Inc          | Veeco Instruments Inc                       | CUSIP: 922417100<br>LEI: 5493004201F72ADDZW04 | Long             | EC               | CORP              | US        |    150000 | NS      | $4287000.00   | 2.82%             |  |  |  | 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      | $2887500.00   | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Allegro MicroSystems Inc       | Allegro MicroSystems Inc                    | CUSIP: 01749D105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     40000 | NS      | $1055200.00   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Chart Industries Inc           | Chart Industries Inc                        | CUSIP: 16115Q308<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | EC               | CORP              | US        |     12500 | NS      | $2577875.00   | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Dreyfus Treasury Securities Ca | Dreyfus Treasury Securities Cash Management | CUSIP: 261941108<br>LEI: 549300U78VESCW509025 | Long             | STIV             | RF                | US        |   6994368 | NS      | $6994368.07   | 4.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Extreme Networks Inc           | Extreme Networks Inc                        | CUSIP: 30226D106<br>LEI: 549300WRECW11X94UB57 | Long             | EC               | CORP              | US        |     45000 | NS      | $749250.00    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Harmonic Inc                   | Harmonic Inc                                | CUSIP: 413160102<br>LEI: 549300LRGRD8XC9BTL66 | Long             | EC               | CORP              | US        |    545000 | NS      | $5390050.00   | 3.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Commerce.com Inc               | Commerce.com Inc                            | CUSIP: 08975P108<br>LEI: 549300MOVEFQ78DMPG58 | Long             | EC               | CORP              | US        |    282500 | NS      | $1163900.00   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Cleanspark Inc                 | Cleanspark Inc                              | CUSIP: 18452B209<br>LEI: 254900VO7KBRJQDGY810 | Long             | EC               | CORP              | US        |     40000 | NS      | $404800.00    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| CoStar Group Inc               | CoStar Group Inc                            | CUSIP: 22160N109<br>LEI: 984500Q1D53D08E2E698 | Long             | EC               | CORP              | US        |     22000 | NS      | $1479280.00   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Everus Construction Group Inc  | Everus Construction Group Inc               | CUSIP: 300426103<br>LEI: 2549006JMMHR0KILT425 | Long             | EC               | CORP              | US        |     12500 | NS      | $1069500.00   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| nLight Inc                     | nLight Inc                                  | CUSIP: 65487K100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    100000 | NS      | $3751000.00   | 2.47%             |  |  |  | No            |                  1 | On Loan: No      |
| TTM Technologies Inc           | TTM Technologies Inc                        | CUSIP: 87305R109<br>LEI: 549300SC4BDOIS008048 | Long             | EC               | CORP              | US        |     65000 | NS      | $4485000.00   | 2.95%             |  |  |  | No            |                  1 | On Loan: No      |
| FormFactor Inc                 | FormFactor Inc                              | CUSIP: 346375108<br>LEI: 549300YCEEO6SZD1ZR61 | Long             | EC               | CORP              | US        |     55000 | NS      | $3067900.00   | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Figure Technology Solutions In | Figure Technology Solutions Inc             | CUSIP: 349381103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2429 | NS      | $99200.36     | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| KVH Industries Inc             | KVH Industries Inc                          | CUSIP: 482738101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     40000 | NS      | $278800.00    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Akamai Technologies Inc        | Akamai Technologies Inc                     | CUSIP: 00971T101<br>LEI: OC1LZNN2LF5WTJ5RIL89 | Long             | EC               | CORP              | US        |      9000 | NS      | $785250.00    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Arteris Inc                    | Arteris Inc                                 | CUSIP: 04302A104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    650000 | NS      | $10075000.00  | 6.63%             |  |  |  | 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      | $878400.00    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Matthews International Corp    | Matthews International Corp                 | CUSIP: 577128101<br>LEI: 549300ZVC5O0ATML6U61 | Long             | EC               | CORP              | US        |    106000 | NS      | $2768720.00   | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| ADTRAN Holdings Inc            | ADTRAN Holdings Inc                         | CUSIP: 00486H105<br>LEI: 549300VV36J86CRRWF77 | Long             | EC               | CORP              | US        |   1187500 | NS      | $10319375.00  | 6.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Bruker Corp                    | Bruker Corp                                 | CUSIP: 116794108<br>LEI: LEBZ6VLQ6I8XB1NHVY15 | Long             | EC               | CORP              | US        |     59550 | NS      | $2805400.50   | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| CEVA Inc                       | CEVA Inc                                    | CUSIP: 157210105<br>LEI: 529900G9T7CVU2J2VU73 | Long             | EC               | CORP              | US        |    160000 | NS      | $3443200.00   | 2.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Entegris Inc                   | Entegris Inc                                | CUSIP: 29362U104<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | EC               | CORP              | US        |      9000 | NS      | $758250.00    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Standard BioTools Inc          | Standard BioTools Inc                       | CUSIP: 34385P108<br>LEI: 549300GX8Y96GSB6YP89 | Long             | EC               | CORP              | US        |    175000 | NS      | $224000.00    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| PDF Solutions Inc              | PDF Solutions Inc                           | CUSIP: 693282105<br>LEI: 549300GMSP6MROFBI160 | Long             | EC               | CORP              | US        |    230000 | NS      | $6561900.00   | 4.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Pure Storage Inc               | Pure Storage Inc                            | CUSIP: 74624M102<br>LEI: 549300NPDB0BZTK3WO90 | Long             | EC               | CORP              | US        |      5000 | NS      | $335050.00    | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Solstice Advanced Materials In | Solstice Advanced Materials Inc             | CUSIP: 83443Q103<br>LEI: 2138004GZ4H9TW6HK435 | Long             | EC               | CORP              | US        |     16000 | NS      | $777280.00    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Super Micro Computer Inc       | Super Micro Computer Inc                    | CUSIP: 86800U302<br>LEI: 54930022CZO1N2UGVW07 | Long             | EC               | CORP              | US        |     37500 | NS      | $1097625.00   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Transcat Inc                   | Transcat Inc                                | CUSIP: 893529107<br>LEI: 54930081E40TSSHUOS40 | Long             | EC               | CORP              | US        |     64870 | NS      | $3680075.10   | 2.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Ultra Clean Holdings Inc       | Ultra Clean Holdings Inc                    | CUSIP: 90385V107<br>LEI: 5493007L6LS7QX18PE75 | Long             | EC               | CORP              | US        |     55000 | NS      | $1393150.00   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Genius Sports Ltd              | Genius Sports Ltd                           | CUSIP: G3934V109<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |     59300 | NS      | $653486.00    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Generac Holdings Inc           | Generac Holdings Inc                        | CUSIP: 368736104<br>LEI: 529900S2H2AHJHSFFI84 | Long             | EC               | CORP              | US        |     14500 | NS      | $1977365.00   | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| MKS Inc                        | MKS Inc                                     | CUSIP: 55306N104<br>LEI: 549300KEQATBHAGVF505 | Long             | EC               | CORP              | US        |     20000 | NS      | $3196000.00   | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Netskope Inc                   | Netskope Inc                                | CUSIP: 64119N608<br>LEI: 254900CS525VJG6KO570 | Long             | EC               | CORP              | US        |     30000 | NS      | $526200.00    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Vishay Intertechnology Inc     | Vishay Intertechnology Inc                  | CUSIP: 928298108<br>LEI: 5493009O8F3QQJTCQR75 | Long             | EC               | CORP              | US        |    460000 | NS      | $6665400.00   | 4.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Aspen Aerogels Inc             | Aspen Aerogels Inc                          | CUSIP: 04523Y105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    945425 | NS      | $2675552.75   | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Axcelis Technologies Inc       | Axcelis Technologies Inc                    | CUSIP: 054540208<br>LEI: 529900HF9B6NL1QG9F05 | Long             | EC               | CORP              | US        |     20000 | NS      | $1606800.00   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| CryoPort Inc                   | CryoPort Inc                                | CUSIP: 229050307<br>LEI: 9845004D8538BT8JF626 | Long             | EC               | CORP              | US        |    310000 | NS      | $2976000.00   | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Arlo Technologies Inc          | Arlo Technologies Inc                       | CUSIP: 04206A101<br>LEI: 549300T4EUX2OQ75HV52 | Long             | EC               | CORP              | US        |     65000 | NS      | $909350.00    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Bentley Systems Inc            | Bentley Systems Inc                         | CUSIP: 08265T208<br>LEI: 549300WVEHPGE0Z56F71 | Long             | EC               | CORP              | US        |     40000 | NS      | $1526600.00   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Cognex Corp                    | Cognex Corp                                 | CUSIP: 192422103<br>LEI: 549300JQTYZCLC43S226 | Long             | EC               | CORP              | US        |     65000 | NS      | $2338700.00   | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Cohu Inc                       | Cohu Inc                                    | CUSIP: 192576106<br>LEI: 529900FJPORJ3JJ2XS33 | Long             | EC               | CORP              | US        |    145000 | NS      | $3374150.00   | 2.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Comtech Telecommunications Cor | Comtech Telecommunications Corp             | CUSIP: 205826209<br>LEI: 529900FTEZ8MGM0Y8F73 | Long             | EC               | CORP              | US        |     52250 | NS      | $276402.50    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| MaxLinear Inc                  | MaxLinear Inc                               | CUSIP: 57776J100<br>LEI: 549300EMOI0SM2IY4F64 | Long             | EC               | CORP              | US        |    140000 | NS      | $2440200.00   | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Penguin Solutions Inc          | Penguin Solutions Inc                       | CUSIP: 706915105<br>LEI: 254900DVWIPOY3GJ8E23 | Long             | EC               | CORP              | US        |    102500 | NS      | $2004900.00   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Ichor Holdings Ltd             | Ichor Holdings Ltd                          | CUSIP: G4740B105<br>LEI: 529900PS8R2JVLJ2H892 | Long             | EC               | CORP              | US        |    158000 | NS      | $2911940.00   | 1.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Camtek Ltd/Israel              | Camtek Ltd/Israel                           | CUSIP: M20791105<br>LEI: 5493000H80W07HCKGS43 | Long             | EC               | CORP              | IL        |     15000 | NS      | $1595175.00   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Parsons Corp                   | Parsons Corp                                | CUSIP: 70202L102<br>LEI: 549300ZXH0VRBSEPX752 | Long             | EC               | CORP              | US        |     27500 | NS      | $1699500.00   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Power Integrations Inc         | Power Integrations Inc                      | CUSIP: 739276103<br>LEI: 54930085LGXSCIHD5W31 | Long             | EC               | CORP              | US        |     25400 | NS      | $902716.00    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Rapid7 Inc                     | Rapid7 Inc                                  | CUSIP: 753422104<br>LEI: 549300GNVG5D60KEYN14 | Long             | EC               | CORP              | US        |     90000 | NS      | $1368000.00   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-02-13

**Name of Applicant:** Needham Funds Inc

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

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

**Title:** Principal, Chief Financial Officer