Needham Investment Management LLC

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Needham Investment Management LLC reported 161 stock positions worth $1.4 billion. Its top holding was Super Micro Computer (SMCI) at 4.7% of the portfolio, followed by Thredup Class A (TDUP, 3.7%) and Nlight (LASR, 3.7%). Compared with Q2 2025, it opened 14 new positions, sold out of 3, added to 63 and reduced 35. The biggest buy was a new position in Ceco Environmental (CECO) and the biggest sale an exit from Faro Technologies (FARO).

Most Recent 13F
Q2 2026
Location
NEW YORK, NY
CIK
0001167212
Portfolio Value
$1.4B (Q3 2025)
SEC Filing
0000919574-25-006767 ↗ filed Nov 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 Q2 2025 Q3 2025: $1.4B $1.4B Q3 2025 Q4 2025: $1.6B Q4 2025 Q1 2026: $2.0B Q1 2026 Q2 2026: $3.3B Q2 2026

Holdings 161 stocks · $1.4B
SMCI Super Micro Computer Inc. 4.70% 1,405,000 $67.4M Reduce -1.5%
TDUP Thredup Inc. Class A 3.74% 5,675,000 $53.6M Reduce -3.4%
LASR Nlight Inc. 3.71% 1,792,740 $53.1M Reduce -2.5%
PDFS PDF Solutions Inc. 3.64% 2,018,550 $52.1M Add +5.5%
VRT Vertiv Holdings Co. Class A 2.99% 284,000 $42.8M Reduce -0.3%
NVMI Nova Ltd. 2.60% 116,750 $37.3M Reduce -10.0%
ODC Oil-Dri Corp. of America 2.44% 573,500 $35.0M Add +2.1%
AIP Arteris Inc. 2.34% 3,325,000 $33.6M Add +12.5%
VICR Vicor Corp. 2.22% 641,450 $31.9M Reduce -9.1%
GENI Genius Sports Ltd. 2.14% 2,480,000 $30.7M Add +5.3%
VSH Vishay Intertechnology Inc. 1.95% 1,829,350 $28.0M Add +20.0%
FORM Formfactor Inc. 1.88% 740,000 $27.0M Add +13.0%
VECO Veeco Instruments Inc. 1.72% 810,000 $24.6M Add +12.3%
PSN Parsons Corp. 1.71% 295,000 $24.5M Add +2.1%
ASPN Aspen Aerogels Inc. 1.67% 3,439,700 $23.9M Add +14.1%
ARLO Arlo Technologies Inc. 1.55% 1,307,500 $22.2M No change
VITL Vital Farms Inc. 1.50% 522,500 $21.5M Add +3.0%
ENTG Entegris Inc. 1.49% 231,000 $21.4M Reduce -3.8%
VPG Vishay Precision Group 1.47% 657,500 $21.1M No change
ASUR Asure Software Inc. 1.45% 2,532,500 $20.8M Add +1.5%
LINC Lincoln Educational Services 1.42% 865,000 $20.3M Add +41.9%
UIS Unisys Corp. 1.38% 5,090,000 $19.9M Reduce -8.0%
CRAI Cra International Inc. 1.33% 91,506 $19.1M Add +8.0%
MTRX Matrix Service Co. 1.31% 1,435,000 $18.8M Add +1.1%
UTI Universal Technical Institut 1.25% 550,000 $17.9M Add +76.8%
COHR Coherent Corp. 1.24% 165,500 $17.8M Reduce -0.3%
PLAB Photronics Inc. 1.22% 760,000 $17.4M Reduce -0.3%
THR Thermon Group Holdings Inc. 1.16% 623,500 $16.7M No change
MKSI MKS Inc. 1.13% 130,750 $16.2M Add +1.6%
LH Labcorp Holdings Inc. 1.13% 56,313 $16.2M No change
HII Huntington Ingalls Industrie 1.09% 54,500 $15.7M No change
NVT Nvent Electric PLC 1.06% 154,500 $15.2M Reduce -1.9%
CLH Clean Harbors Inc. 1.02% 62,981 $14.6M Add +3.4%
KLAC KLA Corp. 0.98% 13,000 $14.0M Reduce -10.3%
CTRI Centuri Holdings Inc. 0.91% 615,128 $13.0M Add +47.3%
BRKR Bruker Corp. 0.91% 400,000 $13.0M Add +81.4%
BFAM Bright Horizons Family Solut 0.89% 117,500 $12.8M Add +9.3%
TMO Thermo Fisher Scientific Inc. 0.89% 26,250 $12.7M Reduce -0.9%
TTMI TTM Technologies 0.87% 217,500 $12.5M Reduce -32.9%
ATRO Astronics Corp. 0.87% 272,500 $12.4M Add +1.9%
RSSS Research Solutions Inc. 0.81% 3,100,000 $11.6M Add +5.8%
AKAM Akamai Technologies Inc. 0.81% 152,500 $11.6M Reduce -18.0%
WAB Wabtec Corp. 0.78% 55,750 $11.2M No change
MKL Markel Group Inc. 0.77% 5,775 $11.0M Add +16.7%
ADTN Adtran Holdings Inc. 0.77% 1,175,000 $11.0M Add +4.9%
VSAT Viasat Inc. 0.73% 355,100 $10.4M No change
ECG Everus Construction Group 0.70% 117,500 $10.1M Add +11.9%
GRC Gorman-Rupp Co. 0.65% 200,000 $9.3M Add +42.9%
MDU Mdu Resources Group Inc. 0.65% 520,000 $9.3M Add +32.0%
CECO Ceco Environmental Corp. 0.63% 175,000 $9.0M New
TTI Tetra Technologies Inc. 0.61% 1,525,000 $8.8M Add +103.3%
ECVT Ecovyst Inc. 0.60% 980,000 $8.6M Add +6.5%
KVYO Klaviyo Inc. Class A 0.59% 305,000 $8.4M No change
CAMT Camtek Ltd. 0.58% 78,900 $8.3M Add +31.5%
SMID Smith-Midland Corp. 0.57% 223,000 $8.2M Add +2.8%
MYRG MYR Group Inc./Delaware 0.54% 37,500 $7.8M Add +25.0%
CGNX Cognex Corp. 0.52% 163,000 $7.4M Add +4.8%
CMCSA Comcast Corp. Class A 0.51% 231,500 $7.3M Reduce -0.4%
MTN Vail Resorts Inc. 0.48% 46,000 $6.9M Add +19.5%
TRNS Transcat Inc. 0.48% 93,500 $6.8M Add +40.6%
SITM Sitime Corp. 0.46% 22,000 $6.6M No change
J Jacobs Solutions Inc. 0.44% 42,000 $6.3M Add +90.9%
HQL Abrdn Life Sciences Investor 0.44% 403,364 $6.3M Add +3.0%
EQIX Equinix Inc. 0.43% 7,900 $6.2M Reduce -12.2%
WTTR Select Water Solutions Inc. 0.43% 575,000 $6.1M Add +475.0%
HLIT Harmonic Inc. 0.43% 600,000 $6.1M Add +6.2%
GILD Gilead Sciences Inc. 0.43% 55,000 $6.1M Reduce -0.5%
ASML ASML Holding NV-NY Reg SHS 0.42% 6,150 $6.0M Add +7.0%
KMX Carmax Inc. 0.41% 129,500 $5.8M Reduce -2.3%
EHC Encompass Health Corp. 0.40% 45,000 $5.7M No change
HQH Abrdn Healthcare Investors 0.38% 291,930 $5.4M Add +3.1%
CMT Core Molding Technologies Inc. 0.36% 253,350 $5.2M Reduce -0.7%
BOX Box Inc. Class A 0.36% 160,000 $5.2M New
DD Dupont DE Nemours Inc. 0.35% 65,000 $5.1M Add +36.8%
TER Teradyne Inc. 0.35% 36,000 $5.0M Reduce -24.2%
NTIC Northern Technologies Intl 0.34% 640,000 $4.9M Add +24.1%
BA The Boeing Co. 0.34% 22,500 $4.9M No change
ROG Rogers Corp. 0.34% 60,000 $4.8M Add +9.1%
MDT Medtronic PLC 0.34% 50,541 $4.8M Add +1.0%
HON Honeywell International Inc. 0.33% 22,500 $4.7M No change
AAPL Apple Inc. 0.33% 18,450 $4.7M No change
BSY Bentley Systems Inc. Class B 0.32% 90,000 $4.6M Add +2.9%
NVGS Navigator Holdings Ltd. 0.31% 286,000 $4.4M Reduce -5.0%
CMTL Comtech Telecommunications 0.30% 1,688,400 $4.4M No change
BWXT BWX Technologies Inc. 0.30% 23,500 $4.3M New
MRVL Marvell Technology Inc. 0.28% 48,250 $4.1M Reduce -13.1%
CRH CRH PLC 0.28% 33,000 $4.0M No change
PRO Pros Holdings Inc. 0.27% 170,000 $3.9M Add +13.3%
NSLR Neostellar Capital Corp. filed as SURO CAPITAL CORP 0.27% 426,594 $3.8M Reduce -2.7%
CEVA Ceva Inc. 0.25% 137,500 $3.6M Add +19.6%
ESOA Energy Services of America 0.25% 350,000 $3.6M Add +180.0%
LMAT Lemaitre Vascular Inc. 0.24% 40,000 $3.5M No change
GLW Corning Inc. 0.24% 42,000 $3.4M No change
LRCX Lam Research Corp. 0.23% 25,000 $3.3M No change
BN Brookfield Corp. 0.22% 46,294 $3.2M No change
BDX Becton Dickinson and Co. 0.22% 16,750 $3.1M No change
POCI Precision Optics Corp. Inc. 0.21% 700,000 $3.0M No change
APT Alpha Pro Tech Ltd. 0.21% 635,000 $3.0M Add +3.7%
RPD RAPID7 Inc. 0.21% 160,000 $3.0M No change
PENG Penguin Solutions Inc. 0.21% 112,500 $3.0M Add +7.1%

Show all 161 holdings

Portfolio Sells Q2 2025 → Q3 2025
FARO Faro Technologies Inc. Sold out 0.00% −2.87
SMCI Super Micro Computer Inc. Reduce -1.5% 4.70% −0.88
UIS Unisys Corp. Reduce -8.0% 1.38% −0.61
AKAM Akamai Technologies Inc. Reduce -18.0% 0.81% −0.38
VICR Vicor Corp. Reduce -9.1% 2.22% −0.33
KMX Carmax Inc. Reduce -2.3% 0.41% −0.30
NVMI Nova Ltd. Reduce -10.0% 2.60% −0.24
TTMI TTM Technologies Reduce -32.9% 0.87% −0.18
CMCSA Comcast Corp. Class A Reduce -0.4% 0.51% −0.15
CALX Calix Inc. Reduce -87.5% 0.02% −0.15
EQIX Equinix Inc. Reduce -12.2% 0.43% −0.14
TTD Trade Desk Inc./the Class A Reduce -6.4% 0.17% −0.14
GTLS Chart Industries Inc. Reduce -44.4% 0.17% −0.12
KVHI KVH Industries Inc. Reduce -31.1% 0.20% −0.12
CRCL Circle Internet Group Inc. Reduce -30.0% 0.06% −0.08
SRAD Sportradar Group AG-A Sold out 0.00% −0.08
GILD Gilead Sciences Inc. Reduce -0.5% 0.43% −0.06
MRVL Marvell Technology Inc. Reduce -13.1% 0.28% −0.06
KLAC KLA Corp. Reduce -10.3% 0.98% −0.06
ALGM Allegro Microsystems Inc. Reduce -20.0% 0.08% −0.05
ENTG Entegris Inc. Reduce -3.8% 1.49% −0.05
QRHC Quest Resource Holding Corp. Reduce -61.2% 0.02% −0.05
CRI Carter's Inc. Reduce -8.5% 0.14% −0.05
FEIM Frequency Electronics Inc. Reduce -60.0% 0.05% −0.04
MATV Mativ Holdings Inc. Sold out 0.00% −0.04
NVGS Navigator Holdings Ltd. Reduce -5.0% 0.31% −0.03
NSLR Neostellar Capital Corp. Reduce -2.7% 0.27% −0.02
HPE Hewlett Packard Enterprise Reduce -11.9% 0.13% −0.01
TER Teradyne Inc. Reduce -24.2% 0.35% +0.01
CMT Core Molding Technologies Inc. Reduce -0.7% 0.36% +0.03
TMO Thermo Fisher Scientific Inc. Reduce -0.9% 0.89% +0.03
AXTI Axt Inc. Reduce -15.9% 0.10% +0.04
COHR Coherent Corp. Reduce -0.3% 1.24% +0.06
PLAB Photronics Inc. Reduce -0.3% 1.22% +0.07
VRT Vertiv Holdings Co. Class A Reduce -0.3% 2.99% +0.07
NVT Nvent Electric PLC Reduce -1.9% 1.06% +0.14
TDUP Thredup Inc. Class A Reduce -3.4% 3.74% +0.23
LASR Nlight Inc. Reduce -2.5% 3.71% +0.82

Portfolio Buys Q2 2025 → Q3 2025
CECO Ceco Environmental Corp. New 0.63% +0.63
VECO Veeco Instruments Inc. Add +12.3% 1.72% +0.55
TTI Tetra Technologies Inc. Add +103.3% 0.61% +0.41
UTI Universal Technical Institut Add +76.8% 1.25% +0.41
PDFS PDF Solutions Inc. Add +5.5% 3.64% +0.37
BOX Box Inc. Class A New 0.36% +0.36
WTTR Select Water Solutions Inc. Add +475.0% 0.43% +0.36
BWXT BWX Technologies Inc. New 0.30% +0.30
LINC Lincoln Educational Services Add +41.9% 1.42% +0.30
ASPN Aspen Aerogels Inc. Add +14.1% 1.67% +0.25
GRC Gorman-Rupp Co. Add +42.9% 0.65% +0.24
J Jacobs Solutions Inc. Add +90.9% 0.44% +0.21
GENI Genius Sports Ltd. Add +5.3% 2.14% +0.19
TNC Tennant Co. New 0.18% +0.18
BRKR Bruker Corp. Add +81.4% 0.91% +0.18
CAMT Camtek Ltd. Add +31.5% 0.58% +0.17
ECG Everus Construction Group Add +11.9% 0.70% +0.17
CTRI Centuri Holdings Inc. Add +47.3% 0.91% +0.16
ESOA Energy Services of America Add +180.0% 0.25% +0.15
ATRO Astronics Corp. Add +1.9% 0.87% +0.15
RSSS Research Solutions Inc. Add +5.8% 0.81% +0.14
FIGR Figure Technology Solut Class A New 0.13% +0.13
MDU Mdu Resources Group Inc. Add +32.0% 0.65% +0.12
CGNX Cognex Corp. Add +4.8% 0.52% +0.12
MYRG MYR Group Inc./Delaware Add +25.0% 0.54% +0.11
MKSI MKS Inc. Add +1.6% 1.13% +0.11
AIP Arteris Inc. Add +12.5% 2.34% +0.10
DD Dupont DE Nemours Inc. Add +36.8% 0.35% +0.09
PRO Pros Holdings Inc. Add +13.3% 0.27% +0.08
FORM Formfactor Inc. Add +13.0% 1.88% +0.08
FLY Firefly Aerospace Inc. New 0.08% +0.08
LGN Legence Corp. Class A New 0.08% +0.08
BMI Badger Meter Inc. Add +150.0% 0.19% +0.07
CRAI Cra International Inc. Add +8.0% 1.33% +0.06
POWI Power Integrations Inc. Add +333.3% 0.09% +0.06
EVLV Evolv Technologies Holdings Add +100.0% 0.11% +0.06
PSN Parsons Corp. Add +2.1% 1.71% +0.05
CEVA Ceva Inc. Add +19.6% 0.25% +0.05
MASS 908 Devices Inc. Add +48.0% 0.14% +0.05
ASML ASML Holding NV-NY Reg SHS Add +7.0% 0.42% +0.05
ICHR Ichor Holdings Ltd. Add +77.8% 0.15% +0.04
PENG Penguin Solutions Inc. Add +7.1% 0.21% +0.04
NTIC Northern Technologies Intl Add +24.1% 0.34% +0.04
ROG Rogers Corp. Add +9.1% 0.34% +0.04
HQL Abrdn Life Sciences Investor Add +3.0% 0.44% +0.04
LMT Lockheed Martin Corp. New 0.03% +0.03
WM Waste Management Inc. New 0.03% +0.03
ALIT Alight Inc. Class A New 0.03% +0.03
WBI Waterbridge Infrastruc Class A New 0.03% +0.03
HQH Abrdn Healthcare Investors Add +3.1% 0.38% +0.03

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