Needham Funds NPORT-P Needham Aggressive Growth Fund (Mar 2024 report)

Needham Aggressive Growth Fund
Schedule of Investments
as of March 31, 2024 (Unaudited)
COMMON STOCKS - 80.6%	Shares		Value
Aerospace & Defense - 1.4%
Astronics Corp.(a)		220,000	$	4,188,800
Electro Optic Systems Holdings Ltd. (Australia)(a)		1,726,559		1,862,056
Huntington Ingalls Industries, Inc.		10,750		3,133,302
				9,184,158
Biotechnology - 0.0%(b)
G1 Therapeutics, Inc.(a)		70,000		302,400
Building Products - 0.3%
Alpha Pro Tech, Ltd.(a)		350,000		2,184,000
Chemicals - 6.4%
Aspen Aerogels, Inc.(a)		1,250,000		22,000,000
Core Molding Technologies, Inc.(a)		205,000		3,880,650
Ecovyst, Inc.(a)		500,000		5,575,000
Mativ Holdings, Inc.		332,500		6,234,375
Northern Technologies International Corp.		400,000		5,380,000
				43,070,025
Commercial Services & Supplies - 1.2%
ACV Auctions, Inc. - Class A(a)		86,500		1,623,605
Clean Harbors, Inc.(a)		33,500		6,743,885
				8,367,490
Communications Equipment - 1.0%
ADTRAN Holdings, Inc.		315,000		1,713,600
Comtech Telecommunications Corp.(a)		450,000		1,543,500
KVH Industries, Inc.(a)		654,100		3,335,910
				6,593,010
Construction & Engineering - 1.4%
Matrix Service Co.(a)		705,000		9,186,150
Construction Materials - 1.7%
CRH PLC (Ireland)		26,500		2,285,890
Smith-Midland Corp.(a)		182,500		8,573,850
				10,859,740
Distributors - 0.2%
Educational Development Corp.(a) (d)		675,000		1,397,250
Diversified Consumer Services - 1.3%
Bright Horizons Family Solutions, Inc.(a)		78,750		8,927,100
Electrical Equipment - 7.9%
Hammond Power Solutions, Inc. (Canada)(a)		14,200		1,520,062
nVent Electric PLC (Ireland)		44,500		3,355,300
Thermon Group Holdings, Inc.(a)		400,000		13,088,000
Vertiv Holdings Co. - Class A		239,000		19,519,130
Vicor Corp.(a)		407,500		15,582,800
				53,065,292
Electronic Equipment, Instruments & Components - 8.1%
Arlo Technologies, Inc.(a)		750,000		9,487,500
Cognex Corp.		122,500		5,196,450
FARO Technologies, Inc.(a)		455,000		9,787,050
nLight, Inc.(a)		995,000		12,935,000
Vishay Precision Group, Inc.(a)		475,000		16,781,750
				54,187,750
Food Products - 1.2%
Vital Farms, Inc.(a)		350,000		8,137,500
Health Care Equipment & Supplies - 1.0%
LeMaitre Vascular, Inc.		38,500		2,554,860
Omnicell, Inc.(a)		87,500		2,557,625
Precision Optics Corp, Inc.(a)		300,000		1,665,000
				6,777,485
Health Care Providers & Services - 0.5%
Laboratory Corp. of America Holdings		12,300		2,687,058
Quest Diagnostics, Inc.		3,000		399,330
				3,086,388
Hotels, Restaurants & Leisure - 1.1%
Genius Sports Ltd. (Guernsey)(a)		1,275,000		7,280,250
Vacasa, Inc. - Class A(a)		38,680		263,798
				7,544,048
Household Products - 2.2%
Oil-Dri Corp. of America		195,000		14,539,200
Insurance - 0.4%
Markel Group, Inc.(a)		1,950		2,966,886
Interactive Media & Services - 0.0%(b)
Illumin Holdings, Inc. (Canada)(a)		200,000		249,530
IT Services - 3.6%
Akamai Technologies, Inc.(a)(c)		27,500		2,990,900
Research Solutions, Inc.(a) (d)		2,012,500		6,359,500
Unisys Corp.(a)		2,965,000		14,558,150
				23,908,550
Life Sciences Tools & Services - 1.4%
Bruker Corp.		57,000		5,354,580
CryoPort, Inc.(a)		110,000		1,947,000
Fortrea Holdings, Inc.(a)		45,000		1,806,300
				9,107,880
Machinery - 0.1%
Westinghouse Air Brake Technologies Corp.		3,000		437,040
Media - 0.2%
The Trade Desk, Inc. - Class A(a)		12,000		1,049,040
Oil, Gas & Consumable Fuels - 0.9%
Adams Resources & Energy, Inc. (d)		210,000		6,090,000
Professional Services - 4.4%
Asure Software, Inc.(a) (d)		1,385,000		10,775,300
CRA International, Inc.		73,000		10,919,340
Parsons Corp.(a)		96,000		7,963,200
				29,657,840
Semiconductors & Semiconductor Equipment - 11.7%
ASML Holding NV (Netherlands)		2,700		2,620,269
AXT, Inc.(a)		84,950		389,920
Entegris, Inc.		64,000		8,994,560
FormFactor, Inc.(a)		167,500		7,643,025
MKS Instruments, Inc.		41,000		5,453,000
Nova, Ltd. (Israel)(a)		64,500		11,441,010
PDF Solutions, Inc.(a)		680,000		22,895,600
Photronics, Inc.(a)		265,000		7,504,800
SiTime Corp.(a)		8,000		745,840
Teradyne, Inc.		7,250		818,018
Veeco Instruments, Inc.(a)		282,500		9,935,525
				78,441,567
Software - 6.0%
Altair Engineering, Inc. - Class A(a)		110,000		9,476,500
American Software, Inc. - Class A		975,000		11,163,750
Arteris, Inc.(a)		1,325,000		9,699,000
Copperleaf Technologies, Inc. (Canada)(a)		725,000		3,826,917
Klaviyo, Inc. - Class A(a)		180,000		4,586,400
Thinkific Labs, Inc. (Canada)(a)		450,000		1,328,854
				40,081,421
Specialty Retail - 2.3%
CarMax, Inc.(a)		60,500		5,270,155
ThredUp, Inc. - Class A(a) (d)		4,900,000		9,800,000
				15,070,155
Technology Hardware, Storage & Peripherals - 10.8%
Apple, Inc.		24,000		4,115,520
Super Micro Computer, Inc.(a)(c)		67,450		68,126,524
				72,242,044
Textiles, Apparel & Luxury Goods - 1.4%
Carter's, Inc.		110,000		9,314,800
Trading Companies & Distributors - 0.5%
Transcat, Inc.(a)		27,500		3,064,325
TOTAL COMMON STOCKS (Cost $360,262,508)				539,090,064
REAL ESTATE INVESTMENT TRUSTS - 0.3%	Shares		Value
Equinix, Inc.		2,600		2,145,858
TOTAL REAL ESTATE INVESTMENT TRUSTS (Cost $636,018)				2,145,858
SHORT-TERM INVESTMENTS - 18.6%
Money Market Funds - 18.6%	Shares
Dreyfus Treasury Securities Cash Management - Class Institutional, 5.19%(e)		124,448,595		124,448,595
TOTAL SHORT-TERM INVESTMENTS (Cost $124,448,595)				124,448,595
TOTAL INVESTMENTS - 99.5% (Cost $485,347,121)			$	665,684,517
Other Assets in Excess of Liabilities - 0.5%				3,439,925
TOTAL NET ASSETS - 100.0%			$	669,124,442
Percentages are stated as a percent of net assets.
Industry classifications may be different than those used for compliance monitoring purposes.
The Global Industry Classification Standard (GICS®) was developed by and/or is the exclusive property of MSCI, Inc. and Standard & Poor’s Financial Services LLC (“S&P”). GICS is a service mark of MSCI, Inc. and S&P and has been licensed for use by U.S. Bank Global Fund Services.

PLC - Public Limited Company

(a)	Non-income producing security.
(b) (c)	Represents less than 0.05% of net assets. Security position is either entirely or partially held in a segregated account. The aggregated total market value as of March 31, 2024 is $3,177,635
(d)	Affiliated security. Needham Aggressive Growth Fund owned 5% or more of the voting securities of the following company during the three months ended March 31, 2024. As a result, this company is deemed to be an affiliate of Needham Aggressive Growth Fund as defined by the 1940 Act.
(e)	The rate shown represents the 7-day effective yield as of March 31, 2024.

Allocation of Portfolio Holdings by Country as of March 31, 2024
(% of Investments)
United States^	$	629,914,379	94.6%
Israel		11,441,010	1.7
Guernsey		7,280,250	1.1
Canada		6,925,363	1.0
Ireland		5,641,190	0.8
Netherlands		2,620,269	0.4
Australia		1,862,056	0.3
	$	665,684,517	100.0%

^ United States allocation includes Short-Term Investment-Money Market Fund of 18.7%.