Needham Investment Management LLC

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Needham Investment Management LLC reported 150 stock positions worth $1.3 billion. Its top holding was Super Micro Computer (SMCI) at 5.6% of the portfolio, followed by Thredup Class A (TDUP, 3.5%) and PDF Solutions (PDFS, 3.3%). Compared with Q1 2025, it opened 5 new positions, sold out of 5, added to 40 and reduced 57. The biggest buy was Arlo Technologies (ARLO, shares +1%) and the biggest sale Vicor (VICR, shares −9%).

Most Recent 13F
Q2 2026
Location
NEW YORK, NY
CIK
0001167212
Portfolio Value
$1.3B (Q2 2025)
SEC Filing
0000919574-25-004664 ↗ filed Aug 14, 2025

Holdings Value

0$1.0B$2.0B$3.0B$4.0B Q1 2024: $1.1B Q1 2024 Q2 2024: $1.2B Q2 2024 Q3 2024: $1.3B Q3 2024 Q4 2024: $1.3B Q4 2024 Q1 2025: $1.1B Q1 2025 Q2 2025: $1.3B $1.3B Q2 2025 Q3 2025: $1.4B Q3 2025 Q4 2025: $1.6B Q4 2025 Q1 2026: $2.0B Q1 2026 Q2 2026: $3.3B Q2 2026

Holdings 150 stocks · $1.3B

SMCI Super Micro Computer Inc. 5.58% 1,427,000 $69.9M Reduce -0.4%
TDUP Thredup Inc. Class A 3.51% 5,875,000 $44.0M Reduce -7.5%
PDFS PDF Solutions Inc. 3.26% 1,913,500 $40.9M Add +2.6%
VRT Vertiv Holdings Co. Class A 2.92% 284,750 $36.6M No change
LASR Nlight Inc. 2.88% 1,837,740 $36.2M Reduce -28.2%
FARO Faro Technologies Inc. 2.87% 818,375 $35.9M Reduce -19.6%
NVMI Nova Ltd. 2.85% 129,750 $35.7M Reduce -7.8%
ODC Oil-Dri Corp. of America 2.64% 561,500 $33.1M No change
VICR Vicor Corp. 2.55% 705,500 $32.0M Reduce -8.8%
AIP Arteris Inc. 2.25% 2,955,000 $28.2M Add +5.1%
UIS Unisys Corp. 2.00% 5,529,800 $25.0M Reduce -0.5%
GENI Genius Sports Ltd. 1.95% 2,355,000 $24.5M Add +0.9%
ASUR Asure Software Inc. 1.94% 2,495,000 $24.4M No change
VSH Vishay Intertechnology Inc. 1.93% 1,525,000 $24.2M Add +4.0%
FORM Formfactor Inc. 1.80% 655,000 $22.5M Reduce -1.5%
ARLO Arlo Technologies Inc. 1.77% 1,307,500 $22.2M Add +0.8%
PSN Parsons Corp. 1.65% 289,000 $20.7M Reduce -1.1%
VITL Vital Farms Inc. 1.56% 507,500 $19.5M Add +0.5%
ENTG Entegris Inc. 1.54% 240,000 $19.4M Add +3.0%
MTRX Matrix Service Co. 1.53% 1,420,000 $19.2M No change
VPG Vishay Precision Group 1.47% 657,500 $18.5M Reduce -4.0%
ASPN Aspen Aerogels Inc. 1.42% 3,014,200 $17.8M Add +10.1%
THR Thermon Group Holdings Inc. 1.40% 623,500 $17.5M Reduce -3.0%
CRAI Cra International Inc. 1.27% 84,750 $15.9M Add +1.8%
AKAM Akamai Technologies Inc. 1.18% 186,000 $14.8M Reduce -5.8%
COHR Coherent Corp. 1.18% 166,000 $14.8M No change
LH Labcorp Holdings Inc. 1.18% 56,313 $14.8M Reduce -0.4%
VECO Veeco Instruments Inc. 1.17% 721,000 $14.7M No change
PLAB Photronics Inc. 1.14% 762,000 $14.3M Add +1.6%
CLH Clean Harbors Inc. 1.12% 60,906 $14.1M No change
LINC Lincoln Educational Services 1.12% 609,500 $14.0M Add +0.7%
BFAM Bright Horizons Family Solut 1.06% 107,500 $13.3M No change
TTMI TTM Technologies 1.05% 324,000 $13.2M Reduce -32.0%
HII Huntington Ingalls Industrie 1.05% 54,500 $13.2M No change
KLAC KLA Corp. 1.04% 14,500 $13.0M Reduce -9.4%
MKSI MKS Inc. 1.02% 128,750 $12.8M No change
WAB Wabtec Corp. 0.93% 55,750 $11.7M Reduce -3.9%
NVT Nvent Electric PLC 0.92% 157,500 $11.5M No change
TMO Thermo Fisher Scientific Inc. 0.86% 26,500 $10.7M No change
UTI Universal Technical Institut 0.84% 311,000 $10.5M Add +1.6%
KVYO Klaviyo Inc. Class A 0.82% 305,000 $10.2M Reduce -1.3%
ADTN Adtran Holdings Inc. 0.80% 1,120,000 $10.0M No change
MKL Markel Group Inc. 0.79% 4,950 $9.9M No change
CTRI Centuri Holdings Inc. 0.75% 417,628 $9.4M Reduce -6.7%
BRKR Bruker Corp. 0.72% 220,500 $9.1M Reduce -4.1%
ATRO Astronics Corp. 0.71% 267,500 $9.0M No change
KMX Carmax Inc. 0.71% 132,500 $8.9M Reduce -3.6%
RSSS Research Solutions Inc. 0.67% 2,930,000 $8.4M No change
CMCSA Comcast Corp. Class A 0.66% 232,500 $8.3M Reduce -2.9%
ECVT Ecovyst Inc. 0.60% 920,000 $7.6M No change
SMID Smith-Midland Corp. 0.58% 217,000 $7.3M Add +2.8%
EQIX Equinix Inc. 0.57% 9,000 $7.2M Add +16.9%
ECG Everus Construction Group 0.53% 105,000 $6.7M Reduce -13.9%
MDU Mdu Resources Group Inc. 0.52% 394,000 $6.6M Reduce -14.2%
GILD Gilead Sciences Inc. 0.49% 55,250 $6.1M Reduce -3.9%
MTN Vail Resorts Inc. 0.48% 38,500 $6.0M Add +79.1%
TRNS Transcat Inc. 0.46% 66,500 $5.7M Add +2.3%
EHC Encompass Health Corp. 0.44% 45,000 $5.5M Reduce -10.0%
MYRG MYR Group Inc./Delaware 0.43% 30,000 $5.4M No change
HLIT Harmonic Inc. 0.43% 565,000 $5.4M No change
HON Honeywell International Inc. 0.42% 22,500 $5.2M No change
VSAT Viasat Inc. 0.41% 355,100 $5.2M No change
GRC Gorman-Rupp Co. 0.41% 140,000 $5.1M Add +1.1%
CAMT Camtek Ltd. 0.40% 60,000 $5.1M Add +26.3%
HQL Abrdn Life Sciences Investor 0.40% 391,575 $5.0M Add +3.4%
CGNX Cognex Corp. 0.39% 155,500 $4.9M No change
BSY Bentley Systems Inc. Class B 0.38% 87,500 $4.7M Reduce -10.3%
BA The Boeing Co. 0.38% 22,500 $4.7M No change
SITM Sitime Corp. 0.37% 22,000 $4.7M Reduce -17.0%
ASML ASML Holding NV-NY Reg SHS 0.37% 5,750 $4.6M Add +4.5%
HQH Abrdn Healthcare Investors 0.35% 283,178 $4.4M Add +7.1%
MDT Medtronic PLC 0.35% 50,041 $4.4M Reduce -2.0%
MRVL Marvell Technology Inc. 0.34% 55,500 $4.3M Reduce -2.6%
TER Teradyne Inc. 0.34% 47,500 $4.3M Reduce -21.5%
NVGS Navigator Holdings Ltd. 0.34% 301,000 $4.3M Reduce -1.3%
CMT Core Molding Technologies Inc. 0.34% 255,000 $4.2M No change
CMTL Comtech Telecommunications 0.33% 1,688,400 $4.1M No change
KVHI KVH Industries Inc. 0.31% 739,200 $3.9M Reduce -20.2%
TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC 0.31% 54,500 $3.9M Reduce -25.3%
NTIC Northern Technologies Intl 0.30% 515,500 $3.8M Reduce -1.9%
AAPL Apple Inc. 0.30% 18,450 $3.8M Reduce -3.1%
ROG Rogers Corp. 0.30% 55,000 $3.8M No change
GTLS Chart Industries Inc. 0.30% 22,500 $3.7M Reduce -6.3%
RPD RAPID7 Inc. 0.30% 160,000 $3.7M Add +100.0%
NSLR Neostellar Capital Corp. filed as SURO CAPITAL CORP 0.29% 438,594 $3.6M Add +15.8%
POCI Precision Optics Corp. Inc. 0.27% 700,000 $3.4M No change
LMAT Lemaitre Vascular Inc. 0.26% 40,000 $3.3M Add +3.9%
DD Dupont DE Nemours Inc. 0.26% 47,500 $3.3M Add +46.1%
CRH CRH PLC 0.24% 33,000 $3.0M No change
J Jacobs Solutions Inc. 0.23% 22,000 $2.9M Add +2.3%
BDX Becton Dickinson and Co. 0.23% 16,750 $2.9M Reduce -1.5%
APT Alpha Pro Tech Ltd. 0.23% 612,500 $2.9M No change
BN Brookfield Corp. 0.23% 46,294 $2.9M No change
AL Sumisho Air Lease Corp. filed as AIR LEASE CORP 0.21% 45,000 $2.6M Reduce -12.6%
CEVA Ceva Inc. 0.20% 115,000 $2.5M Add +25.0%
TTI Tetra Technologies Inc. 0.20% 750,000 $2.5M Add +61.3%
LRCX Lam Research Corp. 0.19% 25,000 $2.4M No change
ADI Analog Devices Inc. 0.19% 10,000 $2.4M No change
PRO Pros Holdings Inc. 0.19% 150,000 $2.3M Add +87.5%
CRI Carter's Inc. 0.18% 76,500 $2.3M Reduce -36.0%
CYRX Cryoport Inc. 0.18% 307,500 $2.3M Add +10.8%
COHU Cohu Inc. 0.18% 118,000 $2.3M No change
GLW Corning Inc. 0.18% 42,000 $2.2M Reduce -1.2%
MXL Maxlinear Inc. 0.18% 155,000 $2.2M Add +3.3%
CALX Calix Inc. 0.17% 40,000 $2.1M Reduce -81.1%
CMRC Commerce.com Inc. filed as BIGCOMMERCE HLDGS INC 0.17% 425,000 $2.1M Reduce -5.6%
PENG Penguin Solutions Inc. 0.17% 105,000 $2.1M Add +5.0%
CRCL Circle Internet Group Inc. 0.14% 10,000 $1.8M New
HPE Hewlett Packard Enterprise 0.14% 84,000 $1.7M No change
ALGM Allegro Microsystems Inc. 0.14% 50,000 $1.7M No change
GNRC Generac Holdings Inc. 0.13% 11,000 $1.6M No change
NSIT Insight Enterprises Inc. 0.12% 11,000 $1.5M Add +100.0%
AMAT Applied Materials Inc. 0.12% 8,250 $1.5M Reduce -8.3%
BMI Badger Meter Inc. 0.12% 6,000 $1.5M Reduce -58.6%
MATW Matthews Intl Corp. Class A 0.11% 60,000 $1.4M Add +26.3%
DGX Quest Diagnostics Inc. 0.11% 7,500 $1.3M Reduce -3.2%
ICHR Ichor Holdings Ltd. 0.11% 67,500 $1.3M Add +60.7%
ESOA Energy Services of America 0.10% 125,000 $1.2M Add +25.0%
MBLY Mobileye Global Inc. Class A 0.10% 68,900 $1.2M Reduce -10.5%
CVX Chevron Corp. 0.09% 8,250 $1.2M Reduce -5.7%
LUV Southwest Airlines Co. 0.09% 35,250 $1.1M No change
FEIM Frequency Electronics Inc. 0.09% 50,000 $1.1M Reduce -44.4%
RTX RTX Corp. 0.09% 7,500 $1.1M Add +7.1%
MASS 908 Devices Inc. 0.09% 150,000 $1.1M Reduce -25.0%
EDUC Educational Development Corp. 0.08% 800,000 $1.1M Reduce -0.6%
SRAD Sportradar Group AG-A 0.08% 35,000 $983K New
VZ Verizon Communications Inc. 0.07% 20,000 $865K No change
WTTR Select Water Solutions Inc. 0.07% 100,000 $864K New
AXTI Axt Inc. 0.07% 393,500 $822K Reduce -33.7%
QRHC Quest Resource Holding Corp. 0.07% 406,023 $820K No change
UCTT Ultra Clean Holdings Inc. 0.06% 35,000 $790K New
CRWD CrowdStrike Holdings Inc. Class A 0.06% 1,500 $764K No change
EXTR Extreme Networks Inc. 0.06% 40,000 $718K Add +60.0%
GOOGL Alphabet Inc. Class A 0.06% 4,000 $705K No change
BAM Brookfield Asset Mgmt-A 0.06% 12,570 $694K No change
TENB Tenable Holdings Inc. 0.05% 20,000 $676K Add +100.0%
EVLV Evolv Technologies Holdings 0.05% 100,000 $624K New
LIND Lindblad Expeditions Holding 0.05% 52,223 $609K No change
P Everpure Inc. Class A filed as PURE STORAGE INC 0.05% 10,000 $576K Reduce -50.0%
MRCY Mercury Systems Inc. 0.04% 10,000 $539K Reduce -63.6%
LAB Standard Biotools Inc. 0.04% 434,435 $521K Reduce -18.7%
MATV Mativ Holdings Inc. 0.04% 72,500 $494K Reduce -53.2%
EHAB Enhabit Inc. 0.04% 50,000 $482K No change
POWI Power Integrations Inc. 0.03% 7,500 $419K Add +50.0%
KLC Kindercare Learning Cos Inc. 0.03% 40,000 $404K Reduce -47.5%
UGI Ugi Corp. 0.03% 10,000 $364K No change
KRP Kimbell Royalty Partners LP 0.03% 25,424 $355K No change
CDNA Caredx Inc. 0.02% 15,000 $293K No change
YEXT Yext Inc. 0.02% 30,000 $255K Reduce -81.8%
FTRE Fortrea Holdings Inc. 0.01% 37,763 $187K No change

Portfolio Sells Q1 2025 → Q2 2025

VICR Vicor Corp. Reduce -8.8% 2.55% −0.84
LGTY Logility Supply Chain Soluti Sold out 0.00% −0.61
CALX Calix Inc. Reduce -81.1% 0.17% −0.53
UIS Unisys Corp. Reduce -0.5% 2.00% −0.39
AKAM Akamai Technologies Inc. Reduce -5.8% 1.18% −0.31
KMX Carmax Inc. Reduce -3.6% 0.71% −0.29
THR Thermon Group Holdings Inc. Reduce -3.0% 1.40% −0.28
CRI Carter's Inc. Reduce -36.0% 0.18% −0.27
NTIC Northern Technologies Intl Reduce -1.9% 0.30% −0.21
MDU Mdu Resources Group Inc. Reduce -14.2% 0.52% −0.20
BRKR Bruker Corp. Reduce -4.1% 0.72% −0.18
CMCSA Comcast Corp. Class A Reduce -2.9% 0.66% −0.17
KVHI KVH Industries Inc. Reduce -20.2% 0.31% −0.15
BMI Badger Meter Inc. Reduce -58.6% 0.12% −0.14
BDX Becton Dickinson and Co. Reduce -1.5% 0.23% −0.13
TER Teradyne Inc. Reduce -21.5% 0.34% −0.13
GILD Gilead Sciences Inc. Reduce -3.9% 0.49% −0.12
MUR Murphy Oil Corp. Sold out 0.00% −0.11
AAPL Apple Inc. Reduce -3.1% 0.30% −0.09
MDT Medtronic PLC Reduce -2.0% 0.35% −0.08
LINE Lineage Inc. Sold out 0.00% −0.08
YEXT Yext Inc. Reduce -81.8% 0.02% −0.07
CMRC Commerce.com Inc. Reduce -5.6% 0.17% −0.07
VPG Vishay Precision Group Reduce -4.0% 1.47% −0.07
MRCY Mercury Systems Inc. Reduce -63.6% 0.04% −0.07
TTD Trade Desk Inc./the Class A Reduce -25.3% 0.31% −0.06
KVYO Klaviyo Inc. Class A Reduce -1.3% 0.82% −0.06
WAB Wabtec Corp. Reduce -3.9% 0.93% −0.05
LH Labcorp Holdings Inc. Reduce -0.4% 1.18% −0.05
MATV Mativ Holdings Inc. Reduce -53.2% 0.04% −0.05
KLC Kindercare Learning Cos Inc. Reduce -47.5% 0.03% −0.05
APLD Applied Digital Corp. Sold out 0.00% −0.04
CVX Chevron Corp. Reduce -5.7% 0.09% −0.04
FEIM Frequency Electronics Inc. Reduce -44.4% 0.09% −0.04
NVGS Navigator Holdings Ltd. Reduce -1.3% 0.34% −0.04
BNT Brookfield Wealth Solutions Sold out 0.00% −0.04
P Everpure Inc. Class A Reduce -50.0% 0.05% −0.04
EHC Encompass Health Corp. Reduce -10.0% 0.44% −0.03
GTLS Chart Industries Inc. Reduce -6.3% 0.30% −0.03
AL Sumisho Air Lease Corp. Reduce -12.6% 0.21% −0.02
EDUC Educational Development Corp. Reduce -0.6% 0.08% −0.02
DGX Quest Diagnostics Inc. Reduce -3.2% 0.11% −0.02
AXTI Axt Inc. Reduce -33.7% 0.07% −0.01
LAB Standard Biotools Inc. Reduce -18.7% 0.04% −0.01
GLW Corning Inc. Reduce -1.2% 0.18% −0.01
SITM Sitime Corp. Reduce -17.0% 0.37% −0.01
MBLY Mobileye Global Inc. Class A Reduce -10.5% 0.10% −0.01
AMAT Applied Materials Inc. Reduce -8.3% 0.12% −0.00
MASS 908 Devices Inc. Reduce -25.0% 0.09% +0.00
MRVL Marvell Technology Inc. Reduce -2.6% 0.34% +0.01

Portfolio Buys Q1 2025 → Q2 2025

ARLO Arlo Technologies Inc. Add +0.8% 1.77% +0.57
AIP Arteris Inc. Add +5.1% 2.25% +0.42
LINC Lincoln Educational Services Add +0.7% 1.12% +0.22
MTN Vail Resorts Inc. Add +79.1% 0.48% +0.16
CRCL Circle Internet Group Inc. New 0.14% +0.14
CAMT Camtek Ltd. Add +26.3% 0.40% +0.14
VITL Vital Farms Inc. Add +0.5% 1.56% +0.12
NSLR Neostellar Capital Corp. Add +15.8% 0.29% +0.11
UTI Universal Technical Institut Add +1.6% 0.84% +0.10
RPD RAPID7 Inc. Add +100.0% 0.30% +0.10
SRAD Sportradar Group AG-A New 0.08% +0.08
WTTR Select Water Solutions Inc. New 0.07% +0.07
UCTT Ultra Clean Holdings Inc. New 0.06% +0.06
TTI Tetra Technologies Inc. Add +61.3% 0.20% +0.05
EVLV Evolv Technologies Holdings New 0.05% +0.05
PRO Pros Holdings Inc. Add +87.5% 0.19% +0.04
NSIT Insight Enterprises Inc. Add +100.0% 0.12% +0.04
DD Dupont DE Nemours Inc. Add +46.1% 0.26% +0.03
EXTR Extreme Networks Inc. Add +60.0% 0.06% +0.03
ASML ASML Holding NV-NY Reg SHS Add +4.5% 0.37% +0.03
CYRX Cryoport Inc. Add +10.8% 0.18% +0.02
MXL Maxlinear Inc. Add +3.3% 0.18% +0.02
TENB Tenable Holdings Inc. Add +100.0% 0.05% +0.02
ICHR Ichor Holdings Ltd. Add +60.7% 0.11% +0.02
MATW Matthews Intl Corp. Class A Add +26.3% 0.11% +0.02
ESOA Energy Services of America Add +25.0% 0.10% +0.01
POWI Power Integrations Inc. Add +50.0% 0.03% +0.01
PENG Penguin Solutions Inc. Add +5.0% 0.17% +0.00
TRNS Transcat Inc. Add +2.3% 0.46% +0.00
RTX RTX Corp. Add +7.1% 0.09% +0.00
J Jacobs Solutions Inc. Add +2.3% 0.23% −0.01
EQIX Equinix Inc. Add +16.9% 0.57% −0.02
CEVA Ceva Inc. Add +25.0% 0.20% −0.02
SMID Smith-Midland Corp. Add +2.8% 0.58% −0.03
LMAT Lemaitre Vascular Inc. Add +3.9% 0.26% −0.04
GRC Gorman-Rupp Co. Add +1.1% 0.41% −0.05
HQL Abrdn Life Sciences Investor Add +3.4% 0.40% −0.05
HQH Abrdn Healthcare Investors Add +7.1% 0.35% −0.05
PDFS PDF Solutions Inc. Add +2.6% 3.26% −0.08
CRAI Cra International Inc. Add +1.8% 1.27% −0.08
ASPN Aspen Aerogels Inc. Add +10.1% 1.42% −0.22
GENI Genius Sports Ltd. Add +0.9% 1.95% −0.24
VSH Vishay Intertechnology Inc. Add +4.0% 1.93% −0.25
PLAB Photronics Inc. Add +1.6% 1.14% −0.31
ENTG Entegris Inc. Add +3.0% 1.54% −0.37

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 176$3.3BVICR, AIP, VSH, PDFS, LASR
Q1 2026 176$2.0BLASR, VICR, VRT, PDFS, AIP
Q4 2025 162$1.6BLASR, VICR, PDFS, AIP, VRT
Q3 2025 161$1.4BSMCI, TDUP, LASR, PDFS, VRT
Q2 2025 150$1.3BSMCI, TDUP, PDFS, VRT, LASR
Q1 2025 150$1.1BSMCI, VICR, PDFS, FARO, NVMI
Q4 2024 150$1.3BPDFS, SMCI, VICR, UIS, NVMI
Q3 2024 146$1.3BASPN, PDFS, SMCI, VICR, NVMI
Q2 2024 141$1.2BSMCI, ASPN, PDFS, NVMI, FORM
Q1 2024 131$1.1BSMCI, ASPN, PDFS, ENTG, NVMI