In this work, the programming characteristics of p-channel nano-crystal mem
ory is studied. The hole tunneling component from the inversion layer and t
he electron tunneling component from the valence band in the nano-crystal w
ere separated successfully by independent measurement of the current at the
body terminal and at the source/drain terminal of the memory. For small ga
te voltage, the hole tunneling current is dominant during programming. Howe
ver, for large programming voltage, the valence band electron tunneling fro
m the dot into the substrate becomes dominant. Finally, the comparison of r
etention characteristics between programmed holes and electrons shows that
holes have longer retention time.