Needham Investment Management LLC
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Needham Investment Management LLC reported 162 stock positions worth $1.6 billion. Its top holding was Nlight (LASR) at 4.4% of the portfolio, followed by Vicor (VICR, 3.9%) and PDF Solutions (PDFS, 3.5%). Compared with Q3 2025, it opened 6 new positions, sold out of 7, added to 70 and reduced 38. The biggest buy was Arteris (AIP, shares +3%) and the biggest sale Super Micro Computer (SMCI, shares −2%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001167212
- Portfolio Value
- $1.6B (Q4 2025)
- SEC Filing
- 0000919574-26-000997 ↗ filed Feb 17, 2026
Holdings Value
Holdings 162 stocks · $1.6B
| LASR Nlight Inc. | 4.40% | 1,857,740 | $69.7M | Add +3.6% |
| VICR Vicor Corp. | 3.95% | 569,775 | $62.4M | Reduce -11.2% |
| PDFS PDF Solutions Inc. | 3.54% | 1,965,000 | $56.1M | Reduce -2.6% |
| AIP Arteris Inc. | 3.34% | 3,411,500 | $52.9M | Add +2.6% |
| VRT Vertiv Holdings Co. Class A | 2.92% | 285,250 | $46.2M | Add +0.4% |
| SMCI Super Micro Computer Inc. | 2.55% | 1,380,000 | $40.4M | Reduce -1.8% |
| TDUP Thredup Inc. Class A | 2.45% | 6,075,000 | $38.8M | Add +7.0% |
| FORM Formfactor Inc. | 2.45% | 694,500 | $38.7M | Reduce -6.2% |
| NVMI Nova Ltd. | 2.32% | 111,750 | $36.7M | Reduce -4.3% |
| VSH Vishay Intertechnology Inc. | 2.17% | 2,375,000 | $34.4M | Add +29.8% |
| ODC Oil-Dri Corp. of America | 1.96% | 635,000 | $31.1M | Add +10.7% |
| GENI Genius Sports Ltd. | 1.87% | 2,690,000 | $29.6M | Add +8.5% |
| LINC Lincoln Educational Services | 1.72% | 1,125,000 | $27.2M | Add +30.1% |
| COHR Coherent Corp. | 1.60% | 137,500 | $25.4M | Reduce -16.9% |
| VPG Vishay Precision Group | 1.60% | 657,500 | $25.3M | No change |
| PLAB Photronics Inc. | 1.57% | 775,000 | $24.8M | Add +2.0% |
| ASUR Asure Software Inc. | 1.53% | 2,570,000 | $24.2M | Add +1.5% |
| THR Thermon Group Holdings Inc. | 1.46% | 620,000 | $23.0M | Reduce -0.6% |
| VECO Veeco Instruments Inc. | 1.45% | 805,000 | $23.0M | Reduce -0.6% |
| TTI Tetra Technologies Inc. | 1.41% | 2,375,000 | $22.3M | Add +55.7% |
| VITL Vital Farms Inc. | 1.38% | 685,000 | $21.9M | Add +31.1% |
| ARLO Arlo Technologies Inc. | 1.36% | 1,540,000 | $21.5M | Add +17.8% |
| UTI Universal Technical Institut | 1.33% | 807,500 | $21.1M | Add +46.8% |
| MKSI MKS Inc. | 1.32% | 130,500 | $20.9M | Reduce -0.2% |
| CTRI Centuri Holdings Inc. | 1.27% | 797,628 | $20.1M | Add +29.7% |
| PSN Parsons Corp. | 1.27% | 324,000 | $20.0M | Add +9.8% |
| CRAI Cra International Inc. | 1.25% | 98,756 | $19.8M | Add +7.9% |
| CECO Ceco Environmental Corp. | 1.13% | 298,500 | $17.9M | Add +70.6% |
| BRKR Bruker Corp. | 1.09% | 364,650 | $17.2M | Reduce -8.8% |
| HII Huntington Ingalls Industrie | 1.09% | 50,500 | $17.2M | Reduce -7.3% |
| MTRX Matrix Service Co. | 1.06% | 1,435,000 | $16.8M | No change |
| CLH Clean Harbors Inc. | 1.02% | 68,856 | $16.1M | Add +9.3% |
| ENTG Entegris Inc. | 1.02% | 191,400 | $16.1M | Reduce -17.1% |
| KLAC KLA Corp. | 1.00% | 13,000 | $15.8M | No change |
| NVT Nvent Electric PLC | 1.00% | 154,500 | $15.8M | No change |
| ATRO Astronics Corp. | 0.93% | 272,500 | $14.8M | No change |
| TMO Thermo Fisher Scientific Inc. | 0.92% | 25,250 | $14.6M | Reduce -3.8% |
| LH Labcorp Holdings Inc. | 0.89% | 56,313 | $14.1M | No change |
| AKAM Akamai Technologies Inc. | 0.86% | 156,500 | $13.7M | Add +2.6% |
| MKL Markel Group Inc. | 0.85% | 6,225 | $13.4M | Add +7.8% |
| UIS Unisys Corp. | 0.84% | 4,812,200 | $13.3M | Reduce -5.5% |
| BFAM Bright Horizons Family Solut | 0.83% | 129,000 | $13.1M | Add +9.8% |
| TTMI TTM Technologies | 0.81% | 185,250 | $12.8M | Reduce -14.8% |
| ADTN Adtran Holdings Inc. | 0.79% | 1,447,500 | $12.6M | Add +23.2% |
| GRC Gorman-Rupp Co. | 0.78% | 260,000 | $12.4M | Add +30.0% |
| ASPN Aspen Aerogels Inc. | 0.78% | 4,351,700 | $12.3M | Add +26.5% |
| WAB Wabtec Corp. | 0.75% | 55,750 | $11.9M | No change |
| VSAT Viasat Inc. | 0.72% | 330,600 | $11.4M | Reduce -6.9% |
| ECG Everus Construction Group | 0.68% | 126,500 | $10.8M | Add +7.7% |
| MDU Mdu Resources Group Inc. | 0.67% | 542,000 | $10.6M | Add +4.2% |
| ECVT Ecovyst Inc. | 0.63% | 1,020,000 | $9.9M | Add +4.1% |
| RSSS Research Solutions Inc. | 0.58% | 3,145,000 | $9.2M | Add +1.4% |
| SOLS Solstice Adv Materials Inc. | 0.54% | 175,000 | $8.5M | Add +3011.1% |
| MYRG MYR Group Inc./Delaware | 0.53% | 38,600 | $8.4M | Add +2.9% |
| EQIX Equinix Inc. | 0.52% | 10,750 | $8.2M | Add +36.1% |
| SMID Smith-Midland Corp. | 0.52% | 225,000 | $8.2M | Add +0.9% |
| WTTR Select Water Solutions Inc. | 0.52% | 775,000 | $8.2M | Add +34.8% |
| CAMT Camtek Ltd. | 0.51% | 75,500 | $8.0M | Reduce -4.3% |
| MTN Vail Resorts Inc. | 0.50% | 59,000 | $7.8M | Add +28.3% |
| J Jacobs Solutions Inc. | 0.49% | 58,000 | $7.7M | Add +38.1% |
| TRNS Transcat Inc. | 0.45% | 124,370 | $7.1M | Add +33.0% |
| CMCSA Comcast Corp. Class A | 0.44% | 231,500 | $6.9M | No change |
| HQL Abrdn Life Sciences Investor | 0.43% | 403,364 | $6.8M | No change |
| GILD Gilead Sciences Inc. | 0.43% | 55,000 | $6.8M | No change |
| CGNX Cognex Corp. | 0.39% | 173,000 | $6.2M | Add +6.1% |
| BWXT BWX Technologies Inc. | 0.39% | 36,000 | $6.2M | Add +53.2% |
| CMTL Comtech Telecommunications | 0.39% | 1,174,300 | $6.2M | Reduce -30.4% |
| ASML ASML Holding NV-NY Reg SHS | 0.37% | 5,500 | $5.9M | Reduce -10.6% |
| TER Teradyne Inc. | 0.37% | 30,000 | $5.8M | Reduce -16.7% |
| BOX Box Inc. Class A | 0.36% | 190,000 | $5.7M | Add +18.8% |
| NTIC Northern Technologies Intl | 0.35% | 713,257 | $5.6M | Add +11.4% |
| HQH Abrdn Healthcare Investors | 0.35% | 291,930 | $5.5M | No change |
| ROG Rogers Corp. | 0.35% | 60,000 | $5.5M | No change |
| SITM Sitime Corp. | 0.35% | 15,500 | $5.5M | Reduce -29.6% |
| HLIT Harmonic Inc. | 0.34% | 545,000 | $5.4M | Reduce -9.2% |
| HON Honeywell International Inc. | 0.34% | 27,500 | $5.4M | Add +22.2% |
| BSY Bentley Systems Inc. Class B | 0.34% | 140,000 | $5.3M | Add +55.6% |
| MDT Medtronic PLC | 0.32% | 53,041 | $5.1M | Add +5.0% |
| CMT Core Molding Technologies Inc. | 0.32% | 253,350 | $5.1M | No change |
| CRH CRH PLC | 0.32% | 40,700 | $5.1M | Add +23.3% |
| AAPL Apple Inc. | 0.32% | 18,450 | $5.0M | No change |
| KMX Carmax Inc. | 0.32% | 129,500 | $5.0M | No change |
| TNC Tennant Co. | 0.31% | 67,500 | $5.0M | Add +107.7% |
| NVGS Navigator Holdings Ltd. | 0.31% | 286,000 | $5.0M | No change |
| BA The Boeing Co. | 0.31% | 22,500 | $4.9M | No change |
| ESOA Energy Services of America | 0.30% | 585,440 | $4.8M | Add +67.3% |
| EHC Encompass Health Corp. | 0.30% | 45,000 | $4.8M | No change |
| GNRC Generac Holdings Inc. | 0.30% | 34,500 | $4.7M | Add +213.6% |
| BMI Badger Meter Inc. | 0.28% | 25,000 | $4.4M | Add +66.7% |
| LRCX Lam Research Corp. | 0.27% | 25,000 | $4.3M | No change |
| BATRK Atlanta Braves Holdings in-C | 0.26% | 105,000 | $4.1M | New |
| MRVL Marvell Technology Inc. | 0.26% | 48,250 | $4.1M | No change |
| CSGP Costar Group Inc. | 0.26% | 60,500 | $4.1M | Add +1761.5% |
| MASS 908 Devices Inc. | 0.26% | 770,000 | $4.0M | Add +246.8% |
| NSLR Neostellar Capital Corp. filed as SURO CAPITAL CORP | 0.25% | 426,594 | $4.0M | No change |
| EVLV Evolv Technologies Holdings | 0.25% | 550,000 | $3.9M | Add +175.0% |
| GLW Corning Inc. | 0.23% | 42,000 | $3.7M | No change |
| CEVA Ceva Inc. | 0.22% | 160,000 | $3.4M | Add +16.4% |
| COHU Cohu Inc. | 0.21% | 145,000 | $3.4M | Add +22.9% |
| MOD Modine Manufacturing Co. | 0.21% | 25,000 | $3.3M | New |
Portfolio Sells Q3 2025 → Q4 2025
| SMCI Super Micro Computer Inc. | Reduce -1.8% | 2.55% | −2.15 |
| UIS Unisys Corp. | Reduce -5.5% | 0.84% | −0.55 |
| ENTG Entegris Inc. | Reduce -17.1% | 1.02% | −0.47 |
| KVYO Klaviyo Inc. Class A | Reduce -78.7% | 0.13% | −0.46 |
| DD Dupont DE Nemours Inc. | Reduce -73.1% | 0.04% | −0.31 |
| NVMI Nova Ltd. | Reduce -4.3% | 2.32% | −0.28 |
| PRO Pros Holdings Inc. | Sold out | 0.00% | −0.27 |
| VECO Veeco Instruments Inc. | Reduce -0.6% | 1.45% | −0.27 |
| NSIT Insight Enterprises Inc. | Sold out | 0.00% | −0.13 |
| RPD RAPID7 Inc. | Reduce -43.8% | 0.09% | −0.12 |
| SITM Sitime Corp. | Reduce -29.6% | 0.35% | −0.12 |
| AXTI Axt Inc. | Sold out | 0.00% | −0.10 |
| PDFS PDF Solutions Inc. | Reduce -2.6% | 3.54% | −0.09 |
| HLIT Harmonic Inc. | Reduce -9.2% | 0.34% | −0.09 |
| PENG Penguin Solutions Inc. | Reduce -8.9% | 0.13% | −0.08 |
| CMRC Commerce.com Inc. | Reduce -33.5% | 0.07% | −0.07 |
| CAMT Camtek Ltd. | Reduce -4.3% | 0.51% | −0.07 |
| TTMI TTM Technologies | Reduce -14.8% | 0.81% | −0.07 |
| ASML ASML Holding NV-NY Reg SHS | Reduce -10.6% | 0.37% | −0.04 |
| TENB Tenable Holdings Inc. | Sold out | 0.00% | −0.04 |
| CRCL Circle Internet Group Inc. | Reduce -22.7% | 0.03% | −0.04 |
| P Everpure Inc. Class A | Reduce -50.0% | 0.02% | −0.04 |
| POWI Power Integrations Inc. | Reduce -21.9% | 0.06% | −0.03 |
| KVHI KVH Industries Inc. | Reduce -23.4% | 0.17% | −0.03 |
| LUV Southwest Airlines Co. | Reduce -43.7% | 0.05% | −0.03 |
| LAB Standard Biotools Inc. | Reduce -51.8% | 0.02% | −0.02 |
| CALX Calix Inc. | Sold out | 0.00% | −0.02 |
| MXL Maxlinear Inc. | Reduce -9.7% | 0.15% | −0.02 |
| YEXT Yext Inc. | Sold out | 0.00% | −0.02 |
| QRHC Quest Resource Holding Corp. | Sold out | 0.00% | −0.02 |
| FEIM Frequency Electronics Inc. | Reduce -50.0% | 0.03% | −0.01 |
| CDNA Caredx Inc. | Reduce -50.0% | 0.02% | −0.01 |
| HII Huntington Ingalls Industrie | Reduce -7.3% | 1.09% | −0.01 |
| VSAT Viasat Inc. | Reduce -6.9% | 0.72% | −0.01 |
| CRI Carter's Inc. | Reduce -3.6% | 0.14% | +0.00 |
| AMAT Applied Materials Inc. | Reduce -5.7% | 0.13% | +0.01 |
| TER Teradyne Inc. | Reduce -16.7% | 0.37% | +0.02 |
| TMO Thermo Fisher Scientific Inc. | Reduce -3.8% | 0.92% | +0.04 |
| CMTL Comtech Telecommunications | Reduce -30.4% | 0.39% | +0.09 |
| BRKR Bruker Corp. | Reduce -8.8% | 1.09% | +0.18 |
| MKSI MKS Inc. | Reduce -0.2% | 1.32% | +0.19 |
| THR Thermon Group Holdings Inc. | Reduce -0.6% | 1.46% | +0.29 |
| COHR Coherent Corp. | Reduce -16.9% | 1.60% | +0.36 |
| FORM Formfactor Inc. | Reduce -6.2% | 2.45% | +0.57 |
| VICR Vicor Corp. | Reduce -11.2% | 3.95% | +1.72 |
Portfolio Buys Q3 2025 → Q4 2025
| AIP Arteris Inc. | Add +2.6% | 3.34% | +1.00 |
| TTI Tetra Technologies Inc. | Add +55.7% | 1.41% | +0.79 |
| LASR Nlight Inc. | Add +3.6% | 4.40% | +0.70 |
| SOLS Solstice Adv Materials Inc. | Add +3011.1% | 0.54% | +0.52 |
| CECO Ceco Environmental Corp. | Add +70.6% | 1.13% | +0.50 |
| CTRI Centuri Holdings Inc. | Add +29.7% | 1.27% | +0.36 |
| PLAB Photronics Inc. | Add +2.0% | 1.57% | +0.35 |
| LINC Lincoln Educational Services | Add +30.1% | 1.72% | +0.30 |
| BATRK Atlanta Braves Holdings in-C | New | 0.26% | +0.26 |
| CSGP Costar Group Inc. | Add +1761.5% | 0.26% | +0.24 |
| VSH Vishay Intertechnology Inc. | Add +29.8% | 2.17% | +0.22 |
| MOD Modine Manufacturing Co. | New | 0.21% | +0.21 |
| LTH Life Time Group Holdings Inc. | New | 0.19% | +0.19 |
| GNRC Generac Holdings Inc. | Add +213.6% | 0.30% | +0.17 |
| EVLV Evolv Technologies Holdings | Add +175.0% | 0.25% | +0.14 |
| GRC Gorman-Rupp Co. | Add +30.0% | 0.78% | +0.14 |
| TNC Tennant Co. | Add +107.7% | 0.31% | +0.13 |
| MASS 908 Devices Inc. | Add +246.8% | 0.26% | +0.12 |
| LGN Legence Corp. Class A | Add +92.9% | 0.18% | +0.11 |
| WBI Waterbridge Infrastruc Class A | Add +499.1% | 0.14% | +0.11 |
| ACLS Axcelis Technologies Inc. | New | 0.10% | +0.10 |
| BWXT BWX Technologies Inc. | Add +53.2% | 0.39% | +0.09 |
| EQIX Equinix Inc. | Add +36.1% | 0.52% | +0.09 |
| BMI Badger Meter Inc. | Add +66.7% | 0.28% | +0.09 |
| WTTR Select Water Solutions Inc. | Add +34.8% | 0.52% | +0.09 |
| UTI Universal Technical Institut | Add +46.8% | 1.33% | +0.08 |
| ASUR Asure Software Inc. | Add +1.5% | 1.53% | +0.08 |
| MKL Markel Group Inc. | Add +7.8% | 0.85% | +0.08 |
| AKAM Akamai Technologies Inc. | Add +2.6% | 0.86% | +0.06 |
| ESOA Energy Services of America | Add +67.3% | 0.30% | +0.05 |
| MATW Matthews Intl Corp. Class A | Add +40.4% | 0.17% | +0.05 |
| J Jacobs Solutions Inc. | Add +38.1% | 0.49% | +0.05 |
| COHU Cohu Inc. | Add +22.9% | 0.21% | +0.05 |
| CRH CRH PLC | Add +23.3% | 0.32% | +0.04 |
| HNGE Hinge Health Inc. Class A | Add +200.0% | 0.07% | +0.04 |
| ICHR Ichor Holdings Ltd. | Add +31.7% | 0.18% | +0.04 |
| NTSK Netskope Inc. Class A | New | 0.03% | +0.03 |
| ECVT Ecovyst Inc. | Add +4.1% | 0.63% | +0.03 |
| FIGR Figure Technology Solut Class A | Add +19.2% | 0.16% | +0.03 |
| ADTN Adtran Holdings Inc. | Add +23.2% | 0.79% | +0.03 |
| MDU Mdu Resources Group Inc. | Add +4.2% | 0.67% | +0.02 |
| WM Waste Management Inc. | Add +66.7% | 0.05% | +0.02 |
| MTN Vail Resorts Inc. | Add +28.3% | 0.50% | +0.02 |
| BSY Bentley Systems Inc. Class B | Add +55.6% | 0.34% | +0.01 |
| SLB SLB Ltd. | New | 0.01% | +0.01 |
| UCTT Ultra Clean Holdings Inc. | Add +33.3% | 0.10% | +0.01 |
| NTIC Northern Technologies Intl | Add +11.4% | 0.35% | +0.01 |
| HON Honeywell International Inc. | Add +22.2% | 0.34% | +0.01 |
| CLSK Cleanspark Inc. | Add +100.0% | 0.03% | +0.01 |
| FLY Firefly Aerospace Inc. | Add +50.0% | 0.08% | +0.00 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 176 | $3.3B | VICR, AIP, VSH, PDFS, LASR |
| Q1 2026 | 176 | $2.0B | LASR, VICR, VRT, PDFS, AIP |
| Q4 2025 | 162 | $1.6B | LASR, VICR, PDFS, AIP, VRT |
| Q3 2025 | 161 | $1.4B | SMCI, TDUP, LASR, PDFS, VRT |
| Q2 2025 | 150 | $1.3B | SMCI, TDUP, PDFS, VRT, LASR |
| Q1 2025 | 150 | $1.1B | SMCI, VICR, PDFS, FARO, NVMI |
| Q4 2024 | 150 | $1.3B | PDFS, SMCI, VICR, UIS, NVMI |
| Q3 2024 | 146 | $1.3B | ASPN, PDFS, SMCI, VICR, NVMI |
| Q2 2024 | 141 | $1.2B | SMCI, ASPN, PDFS, NVMI, FORM |
| Q1 2024 | 131 | $1.1B | SMCI, ASPN, PDFS, ENTG, NVMI |