Needham Growth Fund

  • Retail Share: NEEGX | Institutional Share: NEEIX
    Assets (03/31/17): $117M | Inception Date: 1/1/96

Investment Objective

The Needham Growth Fund seeks long-term, tax-efficient capital appreciation by primarily investing in the equity securities of public companies with above average prospective long-term growth rates at value prices.

The central premise of the Growth Fund's investment style is growth, but more specifically, "Growth At a Reasonable Price" or "GARP." This style has become more popular as the markets have exhibited unprecedented levels of volatility and as investors have come to understand some of the dangers and disadvantages of momentum investing.

Strategy

  • Invest in equity securities, concentrating on growth sectors such as technology, health care and specialty retail
  • Maintain sound valuation discipline of buying growth companies at a reasonable price
  • Invest in venture-backed Post-IPO opportunities
  • Invest for long-term capital appreciation with tax efficiency
  • Invest in strong, incentivized management teams
  • Invest in companies with high operating margins
  • Utilize shorting techniques to dampen volatility
Portfolio Manager

John Barr

Telephone:
(212) 705-0462
Email:
jbarr@needhamco.com
description

John Barr is a Co-Manager of the Needham Growth Fund (NEEGX). He has been its Co-Manager since January 2010. He also manages the Needham Aggressive Growth Fund (NEEGX). He engages in a variety of portfolio management-related activities, including stock selection, research, company visits and market analysis. He rejoined Needham & Company in August 2009 from Oliver Investment Management, LLC, a long-short hedge fund focused on small cap technology and exploration and mining stocks, of which John was the Founding and Managing Member. From 2002 to 2008, he served as a portfolio manager and analyst at Buckingham Capital Management for their diversified industry long/short domestic equity hedge fund. He focused on telecom, semiconductors and software. He also has experience with financials, energy, exploration and production, and mining stocks. From 2000 to 2002, John was a managing director and senior analyst at Robertson Stephens following semiconductor technology companies. From 1995 to 2000, he was a managing director and senior analyst at Needham & Company. He also served as its director of research. John was an Institutional Investor All-Star and was ranked by Reuters as leader of one of the top software teams. He is a graduate of Harvard Business School and Colgate University.

Portfolio Manager

Chris Retzler

Telephone:
(212) 705-0424
Email:
cretzler@needhamco.com
description

Chris Retzler is a Co-Manager of the Needham Growth Fund (NEEGX). He has been the Co-Manager since January 2009. He also manages the Needham Small Cap Growth Fund (NESGX) since January 2008. He joined Needham Asset Management in 2005, coming from Winterkorn, where he spent the previous three years. Prior to Winterkorn, Chris was part of Merrill Lynch's Investment Banking from 1994 to 2002. He graduated with a BA from Bucknell University in 1993, moving on to become a Fulbright Scholar in 1994. He received his MBA from Columbia Business School in 1999.