# EDGAR Filing Document

**Accession Number:** 0001002537
**File Stem:** 0001145549-23-008748
**Filing Date:** 2023-2
**Character Count:** 17098
**Document Hash:** 899db63c66bdb97e006134f358cf2820
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-23-008748.hdr.sgml**: 20230223

**ACCESSION NUMBER**: 0001145549-23-008748

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230223

**DATE AS OF CHANGE**: 20230223

**PERIOD START**: 20221231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** NEEDHAM FUNDS INC
- **CENTRAL INDEX KEY:** 0001002537
- **IRS NUMBER:** 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:** 23659217

**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:** 2022-12-31

- **b. Date as of which information is reported:** 2022-12-31

**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:** $202584768.46

**Total Liabilities:** $3528796.50

**Net Assets:** $199055971.96

**Cash Not Reported:** $321998.85

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000010645 | 5.91%                | 4.37%                | -0.77%               |
| Class ID C000176577 | 5.92%                | 4.38%                | -0.61%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-12929443.84            | $23531298.89                               |
| Month 2  | $-9450682.46             | $17733994.58                               |
| Month 3  | $-1383376.86             | $97293.41                                  |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AXT Inc                                            | AXT Inc                                            | CUSIP: 00246W103<br>LEI: 549300M2142IVLVIJN37 | Long             | EC               | CORP              | US        |   1000000 | NS      | $4380000.00   | 2.20%             |  |  |  | No            |                  1 | On Loan: No      |
| ADTRAN Holdings Inc                                | ADTRAN Holdings Inc                                | CUSIP: 00486H105<br>LEI: 549300VV36J86CRRWF77 | Long             | EC               | CORP              | US        |    300000 | NS      | $5637000.00   | 2.83%             |  |  |  | No            |                  1 | On Loan: No      |
| WARRANTS TO PURCHASE THE COMMON STOCK OF AGILE THE | WARRANTS TO PURCHASE THE COMMON STOCK OF AGILE THE | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               | CORP              | US        |      4375 | NS      | $344.75       | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Akoustis Technologies Inc                          | Akoustis Technologies Inc                          | CUSIP: 00973N102<br>LEI: 549300DLBFV9XWL6J142 | Long             | EC               | CORP              | US        |   1092500 | NS      | $3080850.00   | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Alteryx Inc                                        | Alteryx Inc                                        | CUSIP: 02156B103<br>LEI: 549300XWZG0JHL7I0827 | Long             | EC               | CORP              | US        |     30000 | NS      | $1520100.00   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Aspen Aerogels Inc                                 | Aspen Aerogels Inc                                 | CUSIP: 04523Y105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    644734 | NS      | $7601413.86   | 3.82%             |  |  |  | No            |                  1 | On Loan: No      |
| BigCommerce Holdings Inc                           | BigCommerce Holdings Inc                           | CUSIP: 08975P108<br>LEI: 549300MOVEFQ78DMPG58 | Long             | EC               | CORP              | US        |    380000 | NS      | $3321200.00   | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| CarMax Inc                                         | CarMax Inc                                         | CUSIP: 143130102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10000 | NS      | $608900.00    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Chart Industries Inc                               | Chart Industries Inc                               | CUSIP: 16115Q308<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | EC               | CORP              | US        |     27500 | NS      | $3168825.00   | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Coherent Corp                                      | Coherent Corp                                      | CUSIP: 19247G107<br>LEI: 549300O5C25A0MMHHU33 | Long             | EC               | CORP              | US        |    100000 | NS      | $3510000.00   | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Dreyfus Treasury Securities Ca                     | Dreyfus Treasury Securities Cash Management        | CUSIP: 261941108<br>LEI: 549300U78VESCW509025 | Long             | STIV             | RF                | US        |  35794583 | NS      | $35794582.80  | 17.98%            |  |  |  | No            |                  1 | On Loan: No      |
| 8x8 Inc                                            | 8x8 Inc                                            | CUSIP: 282914100<br>LEI: 254900XWSOC5U1BRW939 | Long             | EC               | CORP              | US        |   1600000 | NS      | $6912000.00   | 3.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Standard BioTools Inc                              | Standard BioTools Inc                              | CUSIP: 34385P108<br>LEI: 549300GX8Y96GSB6YP89 | Long             | EC               | CORP              | US        |   3647157 | NS      | $4267173.69   | 2.14%             |  |  |  | No            |                  1 | On Loan: No      |
| FormFactor Inc                                     | FormFactor Inc                                     | CUSIP: 346375108<br>LEI: 549300YCEEO6SZD1ZR61 | Long             | EC               | CORP              | US        |    180000 | NS      | $4001400.00   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Frequency Electronics Inc                          | Frequency Electronics Inc                          | CUSIP: 358010106<br>LEI: 549300S56SO2JB5JBE31 | Long             | EC               | CORP              | US        |    570000 | NS      | $4018500.00   | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Infinera Corp                                      | Infinera Corp                                      | CUSIP: 45667G103<br>LEI: 549300ZOF66WPV3H0H17 | Long             | EC               | CORP              | US        |   1100000 | NS      | $7414000.00   | 3.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Intevac Inc                                        | Intevac Inc                                        | CUSIP: 461148108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1608550 | NS      | $10407318.50  | 5.23%             |  |  |  | No            |                  1 | On Loan: No      |
| KVH Industries Inc                                 | KVH Industries Inc                                 | CUSIP: 482738101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    492500 | NS      | $5033350.00   | 2.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Edgio Inc                                          | Edgio Inc                                          | CUSIP: 53261M104<br>LEI: 529900BNCMDQGEKW5M59 | Long             | EC               | CORP              | US        |    700000 | NS      | $791000.00    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Lumentum Holdings Inc                              | Lumentum Holdings Inc                              | CUSIP: 55024U109<br>LEI: 549300JLWRRC38DWEF52 | Long             | EC               | CORP              | US        |    100000 | NS      | $5217000.00   | 2.62%             |  |  |  | No            |                  1 | On Loan: No      |
| MKS Instruments Inc                                | MKS Instruments Inc                                | CUSIP: 55306N104<br>LEI: 549300KEQATBHAGVF505 | Long             | EC               | CORP              | US        |     44500 | NS      | $3770485.00   | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| MaxLinear Inc                                      | MaxLinear Inc                                      | CUSIP: 57776J100<br>LEI: 549300EMOI0SM2IY4F64 | Long             | EC               | CORP              | US        |     25000 | NS      | $848750.00    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| nLight Inc                                         | nLight Inc                                         | CUSIP: 65487K100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1000000 | NS      | $10140000.00  | 5.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Photronics Inc                                     | Photronics Inc                                     | CUSIP: 719405102<br>LEI: 549300OK5JVNIBNY6F63 | Long             | EC               | CORP              | US        |    550000 | NS      | $9256500.00   | 4.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Rogers Corp                                        | Rogers Corp                                        | CUSIP: 775133101<br>LEI: PW0CN80KNFR7RUOOKJ84 | Long             | EC               | CORP              | US        |     15000 | NS      | $1790100.00   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Sientra Inc                                        | Sientra Inc                                        | CUSIP: 82621J105<br>LEI: 5493006T0OLHI64MOG63 | Long             | EC               | CORP              | US        |    700000 | NS      | $142030.00    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Sumo Logic Inc                                     | Sumo Logic Inc                                     | CUSIP: 86646P103<br>LEI: 549300L85NQSIULERR88 | Long             | EC               | CORP              | US        |   1000000 | NS      | $8100000.00   | 4.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Telos Corp                                         | Telos Corp                                         | CUSIP: 87969B101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1200000 | NS      | $6108000.00   | 3.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Upland Software Inc                                | Upland Software Inc                                | CUSIP: 91544A109<br>LEI: 549300NS277POYJ63W89 | Long             | EC               | CORP              | US        |    542500 | NS      | $3868025.00   | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Veeco Instruments Inc                              | Veeco Instruments Inc                              | CUSIP: 922417100<br>LEI: 5493004201F72ADDZW04 | Long             | EC               | CORP              | US        |    120000 | NS      | $2229600.00   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Viasat Inc                                         | Viasat Inc                                         | CUSIP: 92552V100<br>LEI: UFC8NYMNFSYIHNSM2I38 | Long             | EC               | CORP              | US        |     70000 | NS      | $2215500.00   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Vicor Corp                                         | Vicor Corp                                         | CUSIP: 925815102<br>LEI: 5299005KMQOTR6B51F09 | Long             | EC               | CORP              | US        |     75000 | NS      | $4031250.00   | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| ViewRay Inc                                        | ViewRay Inc                                        | CUSIP: 92672L107<br>LEI: 5493006XTUBSKFU3W106 | Long             | EC               | CORP              | US        |   2215000 | NS      | $9923200.00   | 4.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Vishay Precision Group Inc                         | Vishay Precision Group Inc                         | CUSIP: 92835K103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      4000 | NS      | $154600.00    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Yext Inc                                           | Yext Inc                                           | CUSIP: 98585N106<br>LEI: 5299008ZQSBBVH7K0589 | Long             | EC               | CORP              | US        |   1100612 | NS      | $7186996.36   | 3.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Zuora Inc                                          | Zuora Inc                                          | CUSIP: 98983V106<br>LEI: 549300ISVGC1YZWQJ420 | Long             | EC               | CORP              | US        |    727488 | NS      | $4626823.68   | 2.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Cambium Networks Corp                              | Cambium Networks Corp                              | CUSIP: N/A<br>LEI: 549300OYSIGK6OT5WL04       | Long             | EC               | CORP              | US        |    350000 | NS      | $7584500.00   | 3.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Sensata Technologies Holding P                     | Sensata Technologies Holding PLC                   | CUSIP: N/A<br>LEI: 529900MS7KFYCY9MS037       | Long             | EC               | CORP              | US        |     75000 | NS      | $3028500.00   | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-02-22

**Name of Applicant:** Needham Funds Inc

**Signature:** /s/ Jim Giangrasso

**Name of Signer:** Jim Giangrasso

**Title:** Principal, Chief Financial Officer