Investment objective & strategy
As of March 31, 2026 · prospectusObjective. The Needham Aggressive Growth Fund (the Aggressive Growth Fund) seeks long-term, tax-efficient capital appreciation.
Strategy. Under normal conditions, the Aggressive Growth Fund invests at least 65% of its total assets in the equity securities (principally, common stock) of domestic issuers listed on a nationally recognized securities exchange. The Aggressive Growth Fund considers domestic issuers of equity securities to be companies located, organized, or with a majority of assets or business in the United States. The Aggressive Growth Fund invests principally in markets and industries with strong growth potential, focusing primarily on the market leaders in these areas as these companies often garner a disproportionate share of the positive financial returns. Although the Aggressive Growth Fund may invest in companies of any size, the Aggressive Growth Funds investment strategy may result in a focus on smaller … Under normal conditions, the Aggressive Growth Fund invests at least 65% of its total assets in the equity securities (principally, common stock) of domestic issuers listed on a nationally recognized securities exchange. The Aggressive Growth Fund considers domestic issuers of equity securities to be companies located, organized, or with a majority of assets or business in the United States. The Aggressive Growth Fund invests principally in markets and industries with strong growth potential, focusing primarily on the market leaders in these areas as these companies often garner a disproportionate share of the positive financial returns. Although the Aggressive Growth Fund may invest in companies of any size, the Aggressive Growth Funds investment strategy may result in a focus on smaller companies. The Aggressive Growth Fund may, but is not required to, invest in stocks from a variety of industries included in the technology, healthcare, energy and industrials, specialty retailing, media/leisure/cable/entertainment and business and consumer services sectors. Although the Aggressive Growth Funds investments have typically been most heavily weighted in the information technology, industrials and healthcare sectors, the allocation of the Aggressive Growth Funds assets among the various sectors may change at any time. As of December 31, 2025, 33.7% of the Aggressive Growth Funds net assets were invested in securities within the information technology sector and 31.8% of the Funds net assets were invested in the industrials sector. The Aggressive Growth Fund may engage in short sales. The Aggressive Growth Fund may make a profit or loss depending upon whether the market price of the security sold short decreases or increases between the date of the short sale and the date on which the Aggressive Growth Fund replaces the borrowed security. Unlike the Growth Fund, the Aggressive Growth Fund has had more exposure to the industrials sector (double digits) than the healthcare sectors in all shareholder reports (annual and semi-annual) dating back to 2022. It is the policy of the Aggressive Growth Fund generally to not engage in trading for short-term gains, and the Adviser employs other measures to maximize tax efficiency to the extent consistent with the Aggressive Growth Funds investment strategies, including using: (a) the specific identification method to calculate the tax basis for shares of Aggressive Growth Fund portfolio holdings to seek to minimize taxable gains or offset other gains; and (b) net short-term capital gains to offset Aggressive Growth Fund expenses which would otherwise be non-deductible by the Aggressive Growth Fund. During certain periods, market forces may cause the Adviser, seeking to act in the best interests of the Aggressive Growth Fund, to manage the Aggressive Growth Fund in a manner that may not maximize tax efficiency, such as if the Aggressive Growth Fund experiences extreme inflows and outflows from an unusually high volume of purchase and redemption activity, resulting in high portfolio turnover. The Adviser seeks to balance tax efficiency with the overall best interests of the Aggressive Growth Fund.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| DREYFUS-TR SE-IN | DIRXX | $109.32M | 6.95% |
| NLIGHT INC | — | $95.00M | 6.04% |
| VICOR CORPORATION | — | $76.48M | 4.86% |
| VERTIV HOLDINGS CO | — | $65.34M | 4.15% |
| PDF SOLUTIONS INC | — | $51.93M | 3.30% |
| LINCOLN EDUCATIONAL SERVICES | — | $51.87M | 3.30% |
| ARTERIS INC | — | $50.96M | 3.24% |
| OIL-DRI CORP OF AMERICA | — | $43.94M | 2.79% |
| UNIVERSAL TECHNI | — | $36.88M | 2.34% |
| VISHAY INTERTECHNOLOGY INC | — | $36.71M | 2.33% |
Portfolio moves
Dec 31, 2025 → Mar 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| Needham Growth Fund · NEEGX, NEEIX | 39% | 1.18% |
| Needham Small Cap Growth Fund · NESGX, NESIX | 34% | 1.19% |
| Rice Hall James Micro Cap Portfolio · RHJSX | 12% | 1.25% |
Advisers
| Firm | Role |
|---|---|
| Needham Investment Management, LLC | Adviser |
Footnotes
- Expense ratio as of March 31, 2026, from the fund's prospectus.
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. As reported in the fund's prospectus performance bar chart.
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