DFX Intelligence

RIA Intelligence

Registered investment advisers, the advisors registered through them, the capital they report, the private vehicles they run and the people who own them, as a graph with a filing date behind every number. RAUM is what the adviser filed, a move is two registration dates, and a class is a rule you can read.

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SEC-registered adviser

N•••••• I••••••••• M••••••••• L••

Asset manager (funds and pooled vehicles)New York, New YorkCRD 106783SEC 801-50449website IAPD

Latest filing Mar 30, 2026

First filing on the tape Mar 28, 2012 · 23 filings

SEC status approved since Nov 17, 1995

RAUM

$1.8B

reported, Item 5.F

Discretionary

100%

of RAUM

Private clients

0.0%

$0 individuals and HNW

Advisors

registered through the firm on IAPD

RAUM per advisor

n/a

derived; firm RAUM over IAPD count

Employees

3 advisory (5.B.1)

Offices

beyond the principal office

Private funds

reported on Schedule D

History

23 filings and snapshots on the tape

RAUM$1.8B as of Mar 30, 2026

Mar 30, 2012$533M then

HNW client RAUM: no history

State-registered IARs (5.B.3)2 as of Mar 30, 2026

Mar 30, 20120 then

Employees (5.A)11 as of Mar 30, 2026

Mar 28, 20139 then

Private funds2 as of Mar 30, 2026

Mar 30, 20123 then

RAUM +28% over the last fiscal year+42% a year over threeIARs 2 to 2

Practice profile

derived from the filing of Mar 30, 2026; every figure names its basis

RAUM per advisor: $900MderivedRAUM over IAPD advisors; not a book size
Clients per advisor: unknownderivedindividual and HNW clients (5.D) over advisors
Average HNW client: unknownderivedHNW RAUM over HNW clients
Average account: $360MderivedRAUM over accounts (5.F.2.f)
Discretionary: 100%derivedof RAUM
Institutional: 0.0%derivedpensions, charities, corporations, government, insurance, banks, other advisers
Employees per advisor: 5.5derivedItem 5.A over advisors
Advisors per office: 2.0derived1 offices incl. principal (1.F.5)
RAUM growth, one year: +28%derivedbetween the last two annual amendments
Advisor growth, one year: +0.0%derivedItem 5.B.3 between annual amendments
Client growth, one year: unknownderived
Compensation: percentage of assets, performance-basedreportedItem 5.E
Advisory activities: portfolio management for pooled vehicles, portfolio management for investment companiesreportedItem 5.G
Custody: $270M, 2 clientsreportedItem 9.A
Ownership: no PE, bank or public-company owner found on Schedule Aderived
Advisor book size: not public; not estimatedreported

Also answered yes on Form ADV

buys or sells securities as principal to or from clients (8.A.2)
has discretionary authority over which securities are bought or sold (8.C.1)
compensates persons for client referrals (8.G.1)
compensates non-employees for client referrals (8.G.2)
has custody of client cash or bank accounts (9.A.1.a)
has custody of client securities (9.A.1.b)

Where the RAUM sits

Form ADV Item 5.D, latest filing

Investment companies$1.5B85%
Pooled investment vehicles$270M15%

Individual clients: 0reported
HNW clients: 0reported
Pension plan clients: 0reported
Charitable clients: 0reported
Accounts: 5reported
Financial planning clients: reported
Wrap fee programs: noreported
Custody of client assets: $270M for 2 clientsreported
Compensation: % of AUM, performancereported
Class basis: private_client_share=0.0 fund_share=1.0 institutional_share=0.0 related_bd=true related_bank=false bd_reps=9.0derived

Advisors registered through the firm

0 on IAPD today, longest tenure first

No representative is registered through this CRD on IAPD.

Advisor movement

Left, latest

none on the tape

Joined, latest

none on the tape

Every departure Every arrival

Private funds

3 reported on Schedule D 7.B.(1)

Fund	Type	Gross assets	Owners	First reported
N•••••• E••••••• G••••• P•••••••• L•••	Hedge Fund	$165M	41	Mar 28, 2012
N•••••• C••••••••• ••• F•••• L•••	Hedge Fund	$42.6M	21	Mar 28, 2012
N•••••• C••••••••• F•••• L•••no longer reported	Hedge Fund	$10.1M	7	Mar 28, 2012

Owners and control persons

Schedule A and B, latest filing

A••••••••• J••••• M•••••• · Chief Compliance Officercontrol
since 10/2004 · owns less than 5%
B•••• J•••• O••••• · Md/Evp - Portfolio Managercontrol
since 01/2010 · owns less than 5%
G••••••••• J••••• W•••••• · Managing Director - Cfo, Secretary, Treasurercontrol
since 02/2011 · owns less than 5%
N••••••• G•••••• A••••• · President And Ceocontrol
since 04/2005 · owns less than 5%
R••••••• C••••••••• J••• · Md/Evp - Portfolio Managercontrol
since 01/2008 · owns less than 5%
N••••••• G•••••• A••••• · Shareholdercontrol
since 12/2004 · owns F of T•• N•••••• G••••• I•••

Entity owners

N•••••• A•••• M••••••••• L•• · Member
direct · owns 50% to 75%
N•••••• H•••••••• L•• · Member
indirect · owns 75% or more of N•••••• A•••• M••••••••• L••
T•• N•••••• G••••• I••• · Member
indirect · owns 75% or more of N•••••• H•••••••• L••

Related persons

Schedule D 7.A

N•••••• • C••••••• L••
broker-dealerinvestment adviserpooled vehicle sponsorn

Advisers that list N•••••• I••••••••• M••••••••• L•• as a related person

163073 n
16360 n

Offices

Schedule D 1.F, the 25 largest

No branch office listed.

What changed

consecutive filings, newest first

BD registered reps · 10 to 9
Mar 31, 2025 to Mar 30, 2026
Assets in custody · $230M to $270M
Mar 31, 2025 to Mar 30, 2026
Discretionary RAUM · $1.4B to $1.8B
Mar 31, 2025 to Mar 30, 2026
Pooled vehicle RAUM · $230M to $270M
Mar 31, 2025 to Mar 30, 2026
RAUM · $1.4B to $1.8B
Mar 31, 2025 to Mar 30, 2026
Assets in custody · $208M to $230M
Apr 25, 2024 to Mar 31, 2025
Financial planning clients · unset to
Apr 25, 2024 to Mar 31, 2025
Discretionary RAUM · $926M to $1.4B
Apr 25, 2024 to Mar 31, 2025
Pooled vehicle RAUM · $208M to $230M
Apr 25, 2024 to Mar 31, 2025
RAUM · $926M to $1.4B
Apr 25, 2024 to Mar 31, 2025
Assets in custody · $208M to $208M
Mar 28, 2024 to Apr 25, 2024
Discretionary RAUM · $926M to $926M
Mar 28, 2024 to Apr 25, 2024
Pooled vehicle RAUM · $208M to $208M
Mar 28, 2024 to Apr 25, 2024
RAUM · $926M to $926M
Mar 28, 2024 to Apr 25, 2024
Assets in custody · $164M to $208M
Apr 28, 2023 to Mar 28, 2024
Discretionary RAUM · $623M to $926M
Apr 28, 2023 to Mar 28, 2024
Pooled vehicle RAUM · $164M to $208M
Apr 28, 2023 to Mar 28, 2024
RAUM · $623M to $926M
Apr 28, 2023 to Mar 28, 2024
BD registered reps · 9 to 10
May 19, 2022 to Mar 23, 2023
Assets in custody · $221M to $164M
May 19, 2022 to Mar 23, 2023
Discretionary RAUM · $873M to $623M
May 19, 2022 to Mar 23, 2023
Pooled vehicle RAUM · $221M to $164M
May 19, 2022 to Mar 23, 2023
RAUM · $873M to $623M
May 19, 2022 to Mar 23, 2023
BD registered reps · 8 to 9
Mar 30, 2022 to May 19, 2022
Employees · 10 to 11
Mar 30, 2022 to May 19, 2022
State-registered IARs · 1 to 2
Mar 30, 2022 to May 19, 2022
BD registered reps · 7 to 8
May 12, 2021 to Mar 30, 2022
Pooled vehicle clients · 3 to 2
May 12, 2021 to Mar 30, 2022
Assets in custody · $211M to $221M
May 12, 2021 to Mar 30, 2022
Employees · 8 to 10
May 12, 2021 to Mar 30, 2022
State-registered IARs · 0 to 1
May 12, 2021 to Mar 30, 2022
Discretionary RAUM · $651M to $873M
May 12, 2021 to Mar 30, 2022
Pooled vehicle RAUM · unset to 220882670.0
May 12, 2021 to Mar 30, 2022
RAUM · $651M to $873M
May 12, 2021 to Mar 30, 2022
Assets in custody · $204M to $211M
Mar 23, 2020 to Mar 9, 2021
Discretionary RAUM · $508M to $651M
Mar 23, 2020 to Mar 9, 2021
RAUM · $508M to $651M
Mar 23, 2020 to Mar 9, 2021
Accounts · 6 to 5
Mar 22, 2019 to Mar 23, 2020
Assets in custody · $177M to $204M
Mar 22, 2019 to Mar 23, 2020
Private funds · 3 to 2
Mar 22, 2019 to Mar 23, 2020

Signals

7 dated events

N•••••• I••••••••• M••••••••• L•• reported RAUM $1.8B, up 28% from $1.4B (2025-03-31 to 2026-03-30)
Mar 30, 2026 · RAUM change · derived
N•••••• I••••••••• M••••••••• L•• reported RAUM $1.4B, up 52% from $926.1M (2024-04-25 to 2025-03-31)
Mar 31, 2025 · RAUM change · derived
N•••••• I••••••••• M••••••••• L•• reported RAUM $926.1M, up 49% from $623.4M (2023-04-28 to 2024-03-28)
Mar 28, 2024 · RAUM change · derived
N•••••• I••••••••• M••••••••• L•• reported RAUM $623.4M, down 29% from $872.6M (2022-05-19 to 2023-03-23)
Mar 23, 2023 · RAUM change · derived
N•••••• I••••••••• M••••••••• L•• reported RAUM $872.6M, up 34% from $651.2M (2021-05-12 to 2022-03-30)
Mar 30, 2022 · RAUM change · derived
N•••••• I••••••••• M••••••••• L•• reported RAUM $651.2M, up 28% from $508.4M (2020-03-23 to 2021-03-09)
Mar 9, 2021 · RAUM change · derived
N•••••• I••••••••• M••••••••• L•• reported RAUM $508.4M, up 51% from $336.4M (2019-03-22 to 2020-03-23)
Mar 23, 2020 · RAUM change · derived

Across DFX

shared identifiers only, never a name match

No identifier-backed link to the venture, private equity, family office or sponsor graphs.

How to reach

public business contact points only, each with its source

Firm profile: linkedin.com/company/needham_fundsreportedpublic record, Form ADV, Sep 19, 2026
Website: n•••••••••.comreportedpublic record, Form ADV, Sep 19, 2026
Principal office phone: 212-371-8300reportedpublic record, Form ADV, Mar 30, 2026

Provenance

Form ADV: SEC filing data 2011 to 2024 and the monthly roster 2025 onreportedadviserinfo.sec.gov
Advisors: IAPD individual compilation feed, dailyreportedadviserinfo.sec.gov
Class: Asset manager (funds and pooled vehicles)deriveda rule over Items 5.D and 7.A
RAUM per advisor: n/aderivedfirm RAUM over the IAPD count; not a book size
Loaded: Sep 14, 2026