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

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 Q3 2025 Q4 2025: $1.6B $1.6B Q4 2025 Q1 2026: $2.0B Q1 2026 Q2 2026: $3.3B Q2 2026

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
CYRX Cryoport Inc. 0.21% 339,500 $3.3M Add +10.4%
BDX Becton Dickinson and Co. 0.21% 16,750 $3.3M No change
LMAT Lemaitre Vascular Inc. 0.20% 40,000 $3.2M No change
BN Brookfield Corp. 0.20% 69,440 $3.2M No change
LTH Life Time Group Holdings Inc. 0.19% 115,000 $3.1M New
POCI Precision Optics Corp. Inc. 0.19% 720,000 $3.0M Add +2.9%
ICHR Ichor Holdings Ltd. 0.18% 158,000 $2.9M Add +31.7%
LGN Legence Corp. Class A 0.18% 67,500 $2.9M Add +92.9%
AL Sumisho Air Lease Corp. filed as AIR LEASE CORP 0.18% 45,000 $2.9M No change
APT Alpha Pro Tech Ltd. 0.18% 642,500 $2.9M Add +1.2%
MATW Matthews Intl Corp. Class A 0.17% 106,000 $2.8M Add +40.4%
KVHI KVH Industries Inc. 0.17% 390,000 $2.7M Reduce -23.4%
ADI Analog Devices Inc. 0.17% 10,000 $2.7M No change
Q Qnity Electronics Inc. 0.17% 32,500 $2.7M No change
GTLS Chart Industries Inc. 0.16% 12,500 $2.6M No change
FIGR Figure Technology Solut Class A 0.16% 61,674 $2.5M Add +19.2%
MXL Maxlinear Inc. 0.15% 140,000 $2.4M Reduce -9.7%
WBI Waterbridge Infrastruc Class A 0.14% 110,000 $2.2M Add +499.1%
CRI Carter's Inc. 0.14% 67,500 $2.2M Reduce -3.6%
AMAT Applied Materials Inc. 0.13% 8,250 $2.1M Reduce -5.7%
KVYO Klaviyo Inc. Class A 0.13% 65,000 $2.1M Reduce -78.7%
PENG Penguin Solutions Inc. 0.13% 102,500 $2.0M Reduce -8.9%
TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC 0.12% 51,000 $1.9M No change
HPE Hewlett Packard Enterprise 0.11% 74,000 $1.8M No change
ACLS Axcelis Technologies Inc. 0.10% 20,000 $1.6M New
UCTT Ultra Clean Holdings Inc. 0.10% 60,000 $1.5M Add +33.3%
RTX RTX Corp. 0.09% 7,600 $1.4M No change
RPD RAPID7 Inc. 0.09% 90,000 $1.4M Reduce -43.8%
FLY Firefly Aerospace Inc. 0.08% 60,000 $1.3M Add +50.0%
DGX Quest Diagnostics Inc. 0.08% 7,500 $1.3M No change
CVX Chevron Corp. 0.08% 8,250 $1.3M No change
GOOGL Alphabet Inc. Class A 0.08% 4,000 $1.3M No change
CMRC Commerce.com Inc. 0.07% 282,500 $1.2M Reduce -33.5%
EDUC Educational Development Corp. 0.07% 800,000 $1.1M No change
ALGM Allegro Microsystems Inc. 0.07% 40,000 $1.1M No change
HNGE Hinge Health Inc. Class A 0.07% 22,500 $1.0M Add +200.0%
POWI Power Integrations Inc. 0.06% 25,400 $903K Reduce -21.9%
MBLY Mobileye Global Inc. Class A 0.05% 80,000 $835K No change
WM Waste Management Inc. 0.05% 3,750 $824K Add +66.7%
LUV Southwest Airlines Co. 0.05% 19,850 $820K Reduce -43.7%
VZ Verizon Communications Inc. 0.05% 20,000 $815K No change
LIND Lindblad Expeditions Holding 0.05% 52,223 $753K No change
EXTR Extreme Networks Inc. 0.05% 45,000 $749K Add +12.5%
MRCY Mercury Systems Inc. 0.05% 10,000 $730K No change
DD Dupont DE Nemours Inc. 0.04% 17,500 $704K Reduce -73.1%
CRWD CrowdStrike Holdings Inc. Class A 0.04% 1,500 $703K No change
BAM Brookfield Asset Mgmt-A 0.04% 12,570 $659K No change
FTRE Fortrea Holdings Inc. 0.04% 37,763 $651K No change
ALIT Alight Inc. Class A 0.04% 300,000 $585K Add +100.0%
FEIM Frequency Electronics Inc. 0.03% 10,000 $538K Reduce -50.0%
NTSK Netskope Inc. Class A 0.03% 30,000 $526K New
LMT Lockheed Martin Corp. 0.03% 1,000 $484K No change
EHAB Enhabit Inc. 0.03% 50,000 $461K No change
CRCL Circle Internet Group Inc. 0.03% 5,412 $429K Reduce -22.7%
CLSK Cleanspark Inc. 0.03% 40,000 $405K Add +100.0%
UGI Ugi Corp. 0.02% 10,000 $374K No change
P Everpure Inc. Class A filed as PURE STORAGE INC 0.02% 5,000 $335K Reduce -50.0%
KRP Kimbell Royalty Partners LP 0.02% 25,424 $299K No change
CDNA Caredx Inc. 0.02% 15,000 $283K Reduce -50.0%
LAB Standard Biotools Inc. 0.02% 209,435 $268K Reduce -51.8%
SLB SLB Ltd. filed as SLB LIMITED 0.01% 5,500 $211K New
KLC Kindercare Learning Cos Inc. 0.01% 40,810 $176K Add +2.0%

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

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