# EDGAR Filing Document

**Accession Number:** 0000803020
**File Stem:** 0001213900-25-115191
**Filing Date:** 2025-11
**Character Count:** 64793
**Document Hash:** e89966c2ae5e015a6953a92c3116c751
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-25-115191.hdr.sgml**: 20251126

**ACCESSION NUMBER**: 0001213900-25-115191

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251126

**DATE AS OF CHANGE**: 20251126

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** OBERWEIS FUNDS
- **CENTRAL INDEX KEY:** 0000803020

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04854
- **FILM NUMBER:** 251525819

**BUSINESS ADDRESS:**
- **STREET 1:** 3333 WARRENVILLE ROAD
- **STREET 2:** SUITE 500
- **CITY:** LISLE
- **STATE:** IL
- **ZIP:** 60532
- **BUSINESS PHONE:** 6305772300

**MAIL ADDRESS:**
- **STREET 1:** 3333 WARRENVILLE ROAD
- **STREET 2:** SUITE 500
- **CITY:** LISLE
- **STATE:** IL
- **ZIP:** 60532

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** OBERWEIS FUND
- **DATE OF NAME CHANGE:** 19960821

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** OBERWEIS EMERGING GROWTH FUND /IL/
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### Oberweis International Opportunities Fund (Series ID: S000015622)

| Class ID   | Class Name                                | Ticker Symbol   |
|:---|:---|:---|
| C000042583 | Oberweis International Opportunities Fund | OBIOX           |
| C000247124 | Institutional Class                       | OBIIX           |

## Nport-Ex

Oberweis Micro-Cap Fund

Schedule of Investments (unaudited)

September 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| | | **Shares** | **Value** |
| **Equities** | ***97.7*** *%*** |  |  |
| ***Aerospace & Defense*** | ***1.9*** *%*** |  |  |
| Ducommun, Inc.\* |  | 95700 | $9199641 |
| VSE Corp. |  | 44600 | 7414304 |
|  |  |  | 16613945 |
| ***Banks*** | ***2.3*** *%*** |  |  |
| 1st Source Corp. |  | 82700 | 5091012 |
| FB Financial Corp. |  | 123500 | 6883890 |
| Nicolet Bankshares, Inc. |  | 60200 | 8096900 |
|  |  |  | 20071802 |
| ***Beverages*** | ***1.0*** *%*** |  |  |
| The Vita Coco Co., Inc.\* |  | 207400 | 8808278 |
| ***Biotechnology*** | ***5.6*** *%*** |  |  |
| ADMA Biologics, Inc.\* |  | 1253000 | 18368980 |
| Catalyst Pharmaceuticals, Inc.\* |  | 519600 | 10236120 |
| Kiniksa Pharmaceuticals International PLC\* |  | 305200 | 11850916 |
| Veracyte, Inc.\* |  | 238500 | 8187705 |
|  |  |  | 48643721 |
| ***Building Products*** | ***0.6*** *%*** |  |  |
| Insteel Industries, Inc. |  | 132732 | 5088945 |
| ***Chemicals*** | ***1.0*** *%*** |  |  |
| Hawkins, Inc. |  | 45700 | 8350304 |
| ***Commercial Services & Supplies*** | ***2.0*** *%*** |  |  |
| CECO Environmental Corp.\* |  | 92008 | 4710810 |
| Interface, Inc. |  | 425300 | 12308182 |
|  |  |  | 17018992 |
| ***Communications Equipment*** | ***2.8*** *%*** |  |  |
| Applied Optoelectronics, Inc.\* |  | 945815 | 24524983 |
| ***Construction & Engineering*** | ***8.9*** *%*** |  |  |
| Argan, Inc. |  | 55800 | 15068790 |
| Limbach Hldgs., Inc.\* |  | 83700 | 8128944 |
| Matrix Service Co.\* |  | 221075 | 2891661 |
| Primoris Services Corp. |  | 192400 | 26422292 |
| Tutor Perini Corp.\* |  | 377800 | 24779902 |
|  |  |  | 77291589 |
| ***Consumer Finance*** | ***4.1*** *%*** |  |  |
| Dave, Inc.\* |  | 45622 | 9094746 |
| EZCORP, Inc.\* |  | 685500 | 13051920 |
| Green Dot Corp.\* |  | 970300 | 13031129 |
|  |  |  | 35177795 |
| ***Consumer Staples Distribution & Retail*** | ***0.9*** *%*** |  |  |
| Natural Grocers by Vitamin Cottage, Inc. |  | 205100 | 8204000 |
| ***Diversified Consumer Services*** | ***2.7*** *%*** |  |  |
| Coursera, Inc.\* |  | 561000 | 6569310 |
| Lincoln Educational Services Corp.\* |  | 301600 | 7087600 |
| OneSpaWorld Hldgs. Ltd. |  | 465400 | 9838556 |
|  |  |  | 23495466 |
| ***Electrical Equipment*** | ***6.5*** *%*** |  |  |
| American Superconductor Corp.\* |  | 634400 | 37677016 |
| LSI Industries, Inc. |  | 169200 | 3994812 |
| Powell Industries, Inc. |  | 47500 | 14478475 |
|  |  |  | 56150303 |
| ***Electronic Equipment, Instruments & Components*** | ***2.9*** *%*** |  |  |
| Climb Global Solutions, Inc. |  | 32500 | 4382300 |
| Evolv Technologies Hldgs., Inc.\* |  | 948400 | 7160420 |
| nLight, Inc.\* |  | 266000 | 7881580 |
| PowerFleet, Inc.\* |  | 1068800 | 5600512 |
|  |  |  | 25024812 |
| ***Energy Equipment & Services*** | ***1.2*** *%*** |  |  |
| Expro Group Hldgs. NV\* |  | 435500 | 5173740 |
| Precision Drilling Corp.\* |  | 97100 | 5472555 |
|  |  |  | 10646295 |
| ***Entertainment*** | ***2.2*** *%*** |  |  |
| IMAX Corp.\* |  | 579600 | 18981900 |
| ***Healthcare Equipment & Supplies*** | ***5.7*** *%*** |  |  |
| Alphatec Hldgs., Inc.\* |  | 461122 | 6704714 |
| Artivion, Inc.\* |  | 211800 | 8967612 |
| AtriCure, Inc.\* |  | 153500 | 5410875 |
| Axogen, Inc.\* |  | 328100 | 5853304 |
| Bioventus, Inc.\* |  | 601714 | 4025467 |
| LeMaitre Vascular, Inc. |  | 103400 | 9048534 |
| LivaNova PLC\* |  | 186000 | 9742680 |
|  |  |  | 49753186 |
| ***Healthcare Providers & Services*** | ***3.4*** *%*** |  |  |
| GeneDx Hldgs. Corp.\* |  | 187900 | 20244346 |
| Pediatrix Medical Group, Inc.\* |  | 545600 | 9138800 |
|  |  |  | 29383146 |
| ***Hotels, Restaurants & Leisure*** | ***3.1*** *%*** |  |  |
| Lindblad Expeditions Hldgs., Inc. \* |  | 299400 | 3832320 |
| Rush Street Interactive, Inc.\* |  | 1143100 | 23410688 |
|  |  |  | 27243008 |
| ***Household Durables*** | ***1.2*** *%*** |  |  |
| M/I Homes, Inc.\* |  | 73200 | 10573008 |
| ***Information Technology Services*** | ***0.6*** *%*** |  |  |
| Backblaze, Inc.\* |  | 538700 | 4999136 |
| ***Insurance*** | ***1.3*** *%*** |  |  |
| Skyward Specialty Insurance Group, Inc.\* |  | 231800 | 11024408 |
| ***Leisure Products*** | ***0.9*** *%*** |  |  |
| Malibu Boats, Inc.\* |  | 238200 | 7729590 |
| ***Life Sciences Tools & Services*** | ***1.3*** *%*** |  |  |
| Adaptive Biotechnologies Corp.\* |  | 726500 | 10868440 |
| ***Machinery*** | ***3.8*** *%*** |  |  |
| Blue Bird Corp.\* |  | 373400 | 21489170 |
| REV Group, Inc. |  | 134500 | 7622115 |
| The Gorman-Rupp Corp. |  | 90900 | 4218669 |
|  |  |  | 33329954 |
| ***Media*** | ***1.3*** *%*** |  |  |
| Magnite, Inc.\* |  | 514000 | 11194920 |
| ***Pharmaceuticals*** | ***3.8*** *%*** |  |  |
| ANI Pharmaceuticals, Inc.\* |  | 138900 | 12723240 |
| CorMedix, Inc.\* |  | 785700 | 9137691 |
| Eton Pharmaceuticals, Inc.\* |  | 192360 | 4179983 |
| Liquidia Corp.\* |  | 321200 | 7304088 |
|  |  |  | 33345002 |
| ***Professional Services*** | ***2.6*** *%*** |  |  |
| CRA International, Inc. |  | 34900 | 7277697 |
| Huron Consulting Group, Inc.\* |  | 40500 | 5944185 |
| IBEX Hldgs. Ltd.\* |  | 236000 | 9562720 |
|  |  |  | 22784602 |
| ***Semiconductors & Semiconductor Equipment*** | ***11.6*** *%*** |  |  |
| Alpha & Omega Semiconductor Ltd.\* |  | 271100 | 7579956 |
| Ambarella, Inc.\* |  | 250300 | 20654756 |
| Camtek Ltd.\* |  | 213580 | 22436579 |
| Diodes, Inc.\* |  | 218700 | 11637027 |
| Silicon Motion Technology Corp. ADS |  | 230600 | 21863186 |
| Ultra Clean Hldgs., Inc.\* |  | 613300 | 16712425 |
|  |  |  | 100883929 |
| ***Software*** | ***5.2*** *%*** |  |  |
| AvePoint, Inc.\* |  | 296300 | 4447463 |
| Cellebrite DI Ltd.\* |  | 378900 | 7021017 |
| OneSpan, Inc. |  | 621700 | 9878813 |
| Pagaya Technologies Ltd.\* |  | 190000 | 5641100 |
| Radware Ltd.\* |  | 274700 | 7276803 |
| Red Violet, Inc.\* |  | 100300 | 5240675 |
| Weave Communications, Inc.\* |  | 896300 | 5987284 |
|  |  |  | 45493155 |
| ***Specialty Retail*** | ***3.5*** *%*** |  |  |
| Boot Barn Hldgs., Inc.\* |  | 42100 | 6976812 |
| Build-A-Bear Workshop, Inc. |  | 91600 | 5973236 |
| National Vision Hldgs., Inc.\* |  | 594900 | 17365131 |
|  |  |  | 30315179 |
| ***Tobacco*** | ***1.1*** *%*** |  |  |
| Turning Point Brands, Inc. |  | 101000 | 9984860 |
| ***Trading Co. & Distribution*** | ***0.7*** *%*** |  |  |
| NPK International, Inc.\* |  | 496500 | 5615415 |
| ***Total Equities*** |  |  |  |
| (Cost: $556,405,659) |  |  | $848614068 |
| ***Total Investments*** | ***97.7*** *%*** |  |  |
| (Cost: $556,405,659) |  |  | $848614068 |
| Other Assets Less Liabilities | ***2.3*** *%*** |  | 19896773 |
| ***Net Assets - 100%*** |  |  | $**868510841** |

---

\* Non-income producing security during the period ended September 30, 2025

ADS - American depositary share

Oberweis Small-Cap Opportunities Fund

Schedule of Investments (unaudited)

September 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| | | **Shares** | **Value** |
| ***Equities*** | ***98.5*** *%*** |  |  |
| ***Aerospace & Defense*** | ***3.1*** *%*** |  |  |
| AAR Corp.\* |  | 236500 | $21206955 |
| Mercury Systems, Inc.\* |  | 398500 | 30843900 |
|  |  |  | 52050855 |
| ***Banks*** | ***1.8*** *%*** |  |  |
| Ameris Bancorp |  | 156400 | 11465684 |
| Commerce Bancshares, Inc. |  | 176890 | 10570946 |
| First Merchants Corp. |  | 196000 | 7389200 |
|  |  |  | 29425830 |
| ***Biotechnology*** | ***2.5*** *%*** |  |  |
| ADMA Biologics, Inc.\* |  | 1252600 | 18363116 |
| Halozyme Therapeutics, Inc.\* |  | 107600 | 7891384 |
| Veracyte, Inc.\* |  | 452600 | 15537758 |
|  |  |  | 41792258 |
| ***Building Products*** | ***0.8*** *%*** |  |  |
| Zurn Elkay Water Solutions Corp. |  | 266000 | 12509979 |
| ***Chemicals*** | ***0.8*** *%*** |  |  |
| Sensient Technologies Corp.\* |  | 134200 | 12594670 |
| ***Communications Equipment*** | ***5.2*** *%*** |  |  |
| Applied Optoelectronics, Inc.\* |  | 942226 | 24431920 |
| CommScope Hldg. Co., Inc.\* |  | 790912 | 12243318 |
| Lumentum Hldgs., Inc.\* |  | 307400 | 50017054 |
|  |  |  | 86692292 |
| ***Commercial Services & Supplies*** | ***1.5*** *%*** |  |  |
| Clean Harbors, Inc.\* |  | 104000 | 24150880 |
| ***Construction & Engineering*** | ***2.6*** *%*** |  |  |
| Arcosa, Inc. |  | 221600 | 20766136 |
| Everus Construction Group, Inc.\* |  | 259800 | 22277850 |
|  |  |  | 43043986 |
| ***Consumer Finance*** | ***0.9*** *%*** |  |  |
| FirstCash Hldgs., Inc. |  | 97800 | 15493476 |
| ***Consumer Staples Distribution & Retail*** | ***1.0*** *%*** |  |  |
| Sprouts Farmers Market, Inc.\* |  | 145500 | 15830400 |
| ***Diversified Consumer Services*** | ***5.4*** *%*** |  |  |
| Frontdoor, Inc.\* |  | 607900 | 40905591 |
| Grand Canyon Education, Inc.\* |  | 99800 | 21908096 |
| Stride, Inc.\* |  | 181800 | 27077292 |
|  |  |  | 89890979 |
| ***Electronic Equipment, Instruments & Components*** | ***7.1*** *%*** |  |  |
| Advanced Energy Industries, Inc. |  | 69700 | 11858758 |
| Badger Meter, Inc. |  | 72610 | 12966694 |
| Fabrinet\* |  | 45900 | 16736058 |
| Itron, Inc.\* |  | 277600 | 34577856 |
| Littelfuse, Inc. |  | 62300 | 16136323 |
| OSI Systems, Inc.\* |  | 101400 | 25272936 |
|  |  |  | 117548625 |
| ***Energy Equipment & Services*** | ***0.9*** *%*** |  |  |
| Solaris Energy Infrastructure, Inc. |  | 366900 | 14664993 |
| ***Financial Services*** | ***1.0*** *%*** |  |  |
| Remitly Global, Inc.\* |  | 1002800 | 16345640 |
| ***Healthcare Equipment & Supplies*** | ***2.9*** *%*** |  |  |
| ICU Medical, Inc.\* |  | 138500 | 16614460 |
| iRhythm Technologies, Inc.\* |  | 81200 | 13965588 |
| Merit Medical Systems, Inc.\* |  | 213100 | 17736313 |
|  |  |  | 48316361 |
| ***Healthcare Providers & Services*** | ***5.5*** *%*** |  |  |
| Addus HomeCare Corp.\* |  | 78200 | 9226818 |
| BrightSpring Health Services, Inc.\* |  | 908000 | 26840480 |
| Encompass Health Corp. |  | 340700 | 43275714 |
| HealthEquity, Inc.\* |  | 133200 | 12623364 |
|  |  |  | 91966376 |
| ***Healthcare Technology*** | ***1.8*** *%*** |  |  |
| Waystar Hldg. Corp.\* |  | 795800 | 30176736 |
| ***Hotels, Restaurants & Leisure*** | ***3.5*** *%*** |  |  |
| Dutch Bros, Inc.\* |  | 404500 | 21171530 |
| Genius Sports Ltd.\* |  | 1015100 | 12566938 |
| Life Time Group Hldgs., Inc.\* |  | 866400 | 23912640 |
|  |  |  | 57651108 |
| ***Household Durables*** | ***2.8*** *%*** |  |  |
| SharkNinja, Inc.\* |  | 447300 | 46138995 |
| ***Information Technology Services*** | ***1.5*** *%*** |  |  |
| DigitalOcean Hldgs., Inc.\* |  | 720400 | 24608864 |
| ***Insurance*** | ***1.1*** *%*** |  |  |
| Assurant, Inc. |  | 83000 | 17977800 |
| ***Interactive Media & Services*** | ***1.2*** *%*** |  |  |
| CarGurus, Inc.\* |  | 518400 | 19300032 |
| ***Machinery*** | ***3.2*** *%*** |  |  |
| Federal Signal Corp. |  | 166500 | 19811835 |
| Flowserve Corp. |  | 370100 | 19667114 |
| SPX Technologies, Inc.\* |  | 76900 | 14363382 |
|  |  |  | 53842331 |
| ***Media*** | ***0.9*** *%*** |  |  |
| The New York Times Co.\* |  | 252000 | 14464800 |
| ***Metals & Mining*** | ***1.2*** *%*** |  |  |
| Carpenter Technology Corp. |  | 78600 | 19299444 |
| ***Oil, Gas & Consumable Fuels*** | ***1.2*** *%*** |  |  |
| Magnolia Oil & Gas Corp. |  | 376300 | 8982281 |
| Matador Resources Co. |  | 253900 | 11407727 |
|  |  |  | 20390008 |
| ***Passenger Airlines*** | ***1.9*** *%*** |  |  |
| SkyWest, Inc.\* |  | 312900 | 31483998 |
| ***Professional Services*** | ***3.0*** *%*** |  |  |
| ExlService Hldgs., Inc.\* |  | 194400 | 8559432 |
| Genpact Ltd. |  | 500900 | 20982701 |
| Parsons Corp.\* |  | 249000 | 20647080 |
|  |  |  | 50189213 |
| ***Semiconductors & Semiconductor Equipment*** | ***18.9*** *%*** |  |  |
| Ambarella, Inc.\* |  | 331400 | 27347128 |
| Credo Technology Group Hldg. Ltd.\* |  | 593748 | 86455646 |
| Impinj, Inc.\* |  | 103100 | 18635325 |
| Lattice Semiconductor Corp.\* |  | 275536 | 20202300 |
| MACOM Technology Solutions Hldgs., Inc.\* |  | 163800 | 20391462 |
| Nova Ltd.\* |  | 113100 | 36153546 |
| Qorvo, Inc.\* |  | 253700 | 23106996 |
| Rambus, Inc.\* |  | 476919 | 49694960 |
| SiTime Corp.\* |  | 106396 | 32058179 |
|  |  |  | 314045542 |
| ***Software*** | ***10.7*** *%*** |  |  |
| ACI Worldwide, Inc.\* |  | 318962 | 16831625 |
| Box, Inc.\* |  | 632800 | 20420456 |
| Commvault Systems, Inc.\* |  | 125900 | 23767402 |
| Five9, Inc.\* |  | 396600 | 9597720 |
| Freshworks, Inc.\* |  | 1929100 | 22705507 |
| InterDigital, Inc. |  | 34100 | 11772343 |
| Pegasystems, Inc. |  | 377800 | 21723500 |
| Q2 Hldgs., Inc.\* |  | 270900 | 19610451 |
| Qualys, Inc.\* |  | 84000 | 11115720 |
| Varonis Systems, Inc.\* |  | 176600 | 10149202 |
| Zeta Global Hldgs. Corp.\* |  | 590300 | 11729261 |
|  |  |  | 179423187 |
| ***Specialty Retail*** | ***1.4*** *%*** |  |  |
| American Eagle Outfitters, Inc.\* |  | 484000 | 8281240 |
| Urban Outfitters, Inc.\* |  | 234300 | 16736049 |
|  |  |  | 25017289 |
| ***Textiles, Apparel & Luxury Goods*** | ***1.2*** *%*** |  |  |
| Levi Strauss & Co. |  | 903500 | 21051550 |
| ***Total Equities*** |  |  |  |
| (Cost: $1,291,608,042) |  |  | $1637378497 |
| ***Total Investments*** | ***98.5*** *%*** |  |  |
| (Cost: $1,291,608,042) |  |  | $1637378497 |
| Other Assets Less Liabilities | ***1.5*** *%*** |  | 24768566 |
| ***Net Assets - 100%*** |  |  | $**1662147063** |

---

\* Non-income producing security during the period ended September 30, 2025

Oberweis Global Opportunities Fund

Schedule of Investments (unaudited) <sup>a</sup>

September 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| | | **Shares** | **Value** |
| **Equities** | ***95.4*** *%*** |  |  |
| ***Canada*** | ***3.4*** *%*** |  |  |
| Aritzia, Inc.\* |  | 10900 | $659310 |
| AtkinsRealis Group, Inc. |  | 10600 | 765010 |
| Definity Financial Corp. |  | 11400 | 585932 |
|  |  |  | 2010252 |
| ***China*** | ***2.8*** *%*** |  |  |
| American Superconductor Corp.\* |  | 27500 | 1633225 |
| ***France*** | ***1.2*** *%*** |  |  |
| SPIE SA |  | 12900 | 697355 |
| ***Germany*** | ***1.0*** *%*** |  |  |
| CTS Eventim AG & Co. KGaA |  | 6200 | 608648 |
| ***Hong Kong*** | ***1.3*** *%*** |  |  |
| Futu Hldgs. Ltd. ADS\* |  | 4300 | 747813 |
| ***Italy*** | ***1.1*** *%*** |  |  |
| De' Longhi SpA |  | 18000 | 652702 |
| ***Japan*** | ***8.4*** *%*** |  |  |
| BayCurrent, Inc. |  | 27900 | 1639600 |
| Food & Life Cos. Ltd. |  | 17100 | 892716 |
| Ryohin Keikaku Co. Ltd. |  | 61000 | 1213727 |
| Sanrio Co. Ltd. |  | 25000 | 1173502 |
|  |  |  | 4919545 |
| ***Norway*** | ***1.1*** *%*** |  |  |
| Storebrand ASA |  | 40400 | 617464 |
| ***Sweden*** | ***2.3*** *%*** |  |  |
| BHG Group AB\* |  | 233500 | 679810 |
| Saab AB |  | 10600 | 651288 |
|  |  |  | 1331098 |
| ***Switzerland*** | ***3.3*** *%*** |  |  |
| Accelleron Industries AG |  | 16400 | 1388743 |
| Sportradar Group AG\* |  | 19700 | 529930 |
|  |  |  | 1918673 |
| ***United Kingdom*** | ***12.5*** *%*** |  |  |
| Ashtead Technology Hldgs. PLC |  | 247100 | 1160798 |
| Babcock International Group PLC |  | 53700 | 966022 |
| Cranswick PLC |  | 18700 | 1264041 |
| Diploma PLC |  | 12500 | 894643 |
| Games Workshop Group PLC |  | 7200 | 1411011 |
| Intermediate Capital Group PLC |  | 52600 | 1579125 |
|  |  |  | 7275640 |
| ***United States of America*** | ***57.0*** *%*** |  |  |
| ACI Worldwide, Inc.\* |  | 10400 | 548808 |
| ADMA Biologics, Inc.\* |  | 135700 | 1989362 |
| Ambarella, Inc.\* |  | 10200 | 841704 |
| Argan, Inc. |  | 4300 | 1161215 |
| Aris Water Solutions, Inc. |  | 19900 | 490734 |
| Box, Inc.\* |  | 17700 | 571179 |
| Carpenter Technology Corp. |  | 3600 | 883944 |
| Clean Harbors, Inc.\* |  | 4200 | 975324 |
| Commvault Systems, Inc.\* |  | 2700 | 509706 |
| Credo Technology Group Hldg. Ltd.\* |  | 19100 | 2781151 |
| DigitalOcean Hldgs., Inc.\* |  | 21800 | 744688 |
| Encompass Health Corp. |  | 5100 | 647802 |
| Flowserve Corp. |  | 17700 | 940578 |
| Freshworks, Inc.\* |  | 48600 | 572022 |
| GeneDx Hldgs. Corp.\* |  | 5500 | 592570 |
| Genpact Ltd.\* |  | 14200 | 594838 |
| Halozyme Therapeutics, Inc.\* |  | 9200 | 674728 |
| HealthEquity, Inc.\* |  | 6200 | 587574 |
| ICU Medical, Inc.\* |  | 5000 | 599800 |
| Impinj, Inc.\* |  | 3700 | 668775 |
| Itron, Inc.\* |  | 5800 | 722448 |
| LeMaitre Vascular, Inc. |  | 9500 | 831345 |
| Lumentum Hldgs., Inc.\* |  | 9000 | 1464390 |
| MACOM Technology Solutions Hldgs., Inc.\* |  | 5300 | 659797 |
| Merit Medical Systems, Inc.\* |  | 8700 | 724101 |
| Natural Grocers by Vitamin Cottage, Inc. |  | 12200 | 488000 |
| Parsons Corp.\* |  | 7900 | 655068 |
| Pegasystems, Inc. |  | 11000 | 632500 |
| Q2 Hldgs., Inc.\* |  | 7900 | 571881 |
| Qorvo, Inc.\* |  | 6800 | 619344 |
| Rambus, Inc.\* |  | 14100 | 1469220 |
| Rush Street Interactive, Inc.\* |  | 42900 | 878592 |
| SharkNinja, Inc.\* |  | 17100 | 1763865 |
| SkyWest, Inc.\* |  | 8700 | 875394 |
| The Vita Coco Co., Inc.\* |  | 19500 | 828165 |
| Veracyte, Inc.\* |  | 23000 | 789590 |
| Waystar Hldg. Corp.\* |  | 16200 | 614304 |
| Zeta Global Hldgs. Corp.\* |  | 63200 | 1255784 |
|  |  |  | 33220290 |
| ***Total Equities*** |  |  |  |
| (Cost: $43,901,348) |  |  | $55632705 |
| ***Total Investments*** | ***95.4*** *%*** |  |  |
| (Cost: $43,901,348) |  |  | $55632705 |
| Other Assets Less Liabilities | ***4.6*** *%*** |  | 2678820 |
| ***Net Assets - 100%*** |  |  | $**58311525** |

---

<sup>a</sup> Certain securities were fair valued under the discretion of the Board of Trustees

\* Non-income producing security during the period ended September 30, 2025

ADS - American depositary share

---

| | |
|:---|:---|
| **SECTOR ALLOCATIONS (As a Percentage of Net Assets)** | |
| Communication Services | 1.0% |
| Consumer Discretionary | 16.9% |
| Consumer Staples | 4.4% |
| Energy | 0.8% |
| Financials | 6.1% |
| Healthcare | 13.8% |
| Industrials | 25.7% |
| Information Technology | 25.1% |
| Materials | 1.6% |

---

Oberweis China Opportunities Fund

Schedule of Investments (unaudited)

September 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| | | **Shares** | **Value** |
| **Equities** | ***95.9*** *%*** |  |  |
| ***Automobile Components*** | ***2.1*** *%*** |  |  |
| Hesai Group ADS\* |  | 28000 | $786800 |
| Minth Group Ltd. |  | 88000 | 382442 |
|  |  |  | 1169242 |
| ***Banks*** | ***7.8*** *%*** |  |  |
| BOC Hong Kong Hldgs. Ltd. |  | 190000 | 892136 |
| China Construction Bank Corp. |  | 1600000 | 1537908 |
| China Merchants Bank Co. Ltd. |  | 145000 | 871267 |
| HSBC Hldgs. PLC |  | 77200 | 1085284 |
|  |  |  | 4386595 |
| ***Beverages*** | ***1.9*** *%*** |  |  |
| Kweichow Moutai Co. Ltd. |  | 2500 | 507126 |
| Nongfu Spring Co. Ltd.\* |  | 80000 | 554099 |
|  |  |  | 1061225 |
| ***Biotechnology*** | ***4.7*** *%*** |  |  |
| 3SBio, Inc. |  | 120000 | 462606 |
| BeiGene Ltd.\* |  | 42000 | 1107479 |
| Remegen Co. Ltd.\* |  | 70000 | 1054228 |
|  |  |  | 2624313 |
| ***Broadline Retail*** | ***13.4*** *%*** |  |  |
| Alibaba Group Hldg. Ltd. |  | 230000 | 5231303 |
| JD.com, Inc. |  | 35500 | 631811 |
| MINISO Group Hldg. Ltd. |  | 125000 | 715433 |
| PDD Hldgs. ADS\* |  | 7000 | 925190 |
|  |  |  | 7503737 |
| ***Capital Markets*** | ***5.1*** *%*** |  |  |
| China International Capital Corp. Ltd. |  | 210000 | 577487 |
| Futu Hldgs. Ltd. ADS |  | 6500 | 1130415 |
| Hong Kong Exchanges & Clearing Ltd. |  | 20000 | 1135955 |
|  |  |  | 2843857 |
| ***Chemicals*** | ***1.4*** *%*** |  |  |
| Fufeng Group Ltd. |  | 680000 | 765459 |
| ***Consumer Finance*** | ***0.5*** *%*** |  |  |
| Yixin Group Ltd. |  | 750000 | 265035 |
| ***Electrical Equipment*** | ***6.4*** *%*** |  |  |
| Contemporary Amperex Technology Co. Ltd. |  | 23500 | 1327105 |
| Harbin Electric Co. Ltd.\* |  | 700000 | 1059625 |
| Sungrow Power Supply Co. Ltd.\* |  | 53000 | 1206004 |
|  |  |  | 3592734 |
| ***Electronic Equipment, Instruments & Components*** | ***6.8*** *%*** |  |  |
| AAC Technologies Hldgs., Inc. |  | 90000 | 528990 |
| Delta Electronics, Inc.\* |  | 19000 | 532384 |
| Elite Material Co. Ltd. |  | 27000 | 1085209 |
| Q Technology Group Co. Ltd.\* |  | 420000 | 905089 |
| Sunny Optical Technology Group Co. Ltd. |  | 64100 | 745033 |
|  |  |  | 3796705 |
| ***Entertainment*** | ***3.2*** *%*** |  |  |
| NetEase, Inc. |  | 44000 | 1338885 |
| NetEase Cloud Music, Inc.\* |  | 13000 | 434002 |
|  |  |  | 1772887 |
| ***Healthcare Equipment & Supplies*** | ***0.7*** *%*** |  |  |
| Shanghai Conant Optical Co. Ltd. |  | 75000 | 398805 |
| ***Hotels, Restaurants & Leisure*** | ***3.8*** *%*** |  |  |
| Galaxy Entertainment Group Ltd.\* |  | 80000 | 440812 |
| Meituan\* |  | 27000 | 362567 |
| Trip.com Group Ltd. |  | 17500 | 1340272 |
|  |  |  | 2143651 |
| ***Insurance*** | ***2.1*** *%*** |  |  |
| China Pacific Insurance (Group) Co. Ltd. |  | 220000 | 875816 |
| New China Life Insurance Co. Ltd. |  | 50000 | 296582 |
|  |  |  | 1172398 |
| ***Interactive Media & Services*** | ***11.3*** *%*** |  |  |
| Baidu, Inc.\* |  | 53000 | 907170 |
| Kuaishou Technology |  | 65000 | 706631 |
| Tencent Hldgs. Ltd. |  | 55000 | 4685813 |
|  |  |  | 6299614 |
| ***Life Sciences Tools & Services*** | ***2.8*** *%*** |  |  |
| WuXi XDC Cayman, Inc.\* |  | 155000 | 1559561 |
| ***Machinery*** | ***1.2*** *%*** |  |  |
| Guangxi Liugong Machinery Co. Ltd.\* |  | 150000 | 233055 |
| ZMJ Group Co. Ltd.\* |  | 150000 | 452196 |
|  |  |  | 685251 |
| ***Marine Transportation*** | ***1.6*** *%*** |  |  |
| SITC International Hldgs. Co. Ltd. |  | 233000 | 897029 |
| ***Metals & Mining*** | ***7.4*** *%*** |  |  |
| China Hongqiao Group Ltd. |  | 320000 | 1086405 |
| China Nonferrous Mining Corp. Ltd.\* |  | 630000 | 1212722 |
| Zijin Gold International Co. Ltd.\* |  | 1250 | 19371 |
| Zijin Mining Group Co. Ltd. |  | 430000 | 1801335 |
|  |  |  | 4119833 |
| ***Pharmaceuticals*** | ***1.2*** *%*** |  |  |
| Sino Biopharmaceutical Ltd. |  | 650000 | 679902 |
| ***Real Estate Management & Development*** | ***3.7*** *%*** |  |  |
| China Resources Mixc Lifestyle Services Ltd. |  | 205000 | 1089013 |
| Hang Lung Properties Ltd. |  | 850000 | 953547 |
|  |  |  | 2042560 |
| ***Specialty Retail*** | ***2.0*** *%*** |  |  |
| Chow Tai Fook Jewellery Group Ltd. |  | 580000 | 1159702 |
| ***Technology Hardware, Storage & Peripherals*** | ***4.8*** *%*** |  |  |
| Asia Vital Components Co. Ltd. |  | 27000 | 869053 |
| Xiaomi Corp.\* |  | 270000 | 1873554 |
|  |  |  | 2742607 |
| ***Total Equities*** |  |  |  |
| (Cost: $37,895,158) |  |  | $53682702 |
| ***Short-Term Investments*** | ***3.3*** *%*** |  |  |
| Fidelity Investments Money Market Government Portfolio Class I 4.04%<sup>a</sup> |  | 1823671 | 1823671 |
| ***Total Short-Term Investments*** |  |  |  |
| (Cost: $1,823,671) |  |  | $1823671 |
| ***Total Investments*** | ***99.2*** *%*** |  |  |
| (Cost: $39,718,829) |  |  | $55506373 |
| Other Assets Less Liabilities | ***0.8*** *%*** |  | 428264 |
| ***Net Assets - 100%*** |  |  | $**55934637** |

---

a Annualized seven-day effective yield as of September 30, 2025

\* Non-income producing security during the period ended September 30, 2025

ADS - American depositary share

---

| | |
|:---|:---|
| **COUNTRY ALLOCATION (As a Percentage of Net Assets)** | |
| China (Includes the People's Republic of China, Taiwan and Hong Kong) | 95.9% |

---

Oberweis International Opportunities Fund

Schedule of Investments (unaudited) <sup>a</sup>

September 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| | | **Shares** | **Value** |
| **Equities** | ***97.4*** *%*** |  |  |
| ***Australia*** | ***5.8*** *%*** |  |  |
| Catapult Group International Ltd.\* |  | 1095500 | $4986471 |
| Charter Hall Group |  | 296500 | 4456368 |
| Genesis Minerals Ltd.\* |  | 1595500 | 6171491 |
| JB Hi-Fi Ltd. |  | 83812 | 6432212 |
| Technology One Ltd. |  | 66500 | 1692936 |
|  |  |  | 23739478 |
| ***Austria*** | ***2.1*** *%*** |  |  |
| Andritz AG\* |  | 37600 | 2652636 |
| DO & CO AG |  | 22100 | 5770168 |
|  |  |  | 8422804 |
| ***Canada*** | ***12.9*** *%*** |  |  |
| Alamos Gold, Inc. |  | 186200 | 6490308 |
| Aritzia, Inc.\* |  | 107800 | 6520517 |
| AtkinsRealis Group, Inc. |  | 70200 | 5066385 |
| CES Energy Solutions Corp. |  | 682900 | 4607624 |
| Definity Financial Corp. |  | 79200 | 4070688 |
| Element Fleet Management Corp. |  | 143500 | 3716131 |
| Groupe Dynamite, Inc.\* |  | 115700 | 4964866 |
| iA Financial Corp., Inc. |  | 29600 | 3365386 |
| Maple Leaf Foods, Inc. |  | 191100 | 4944680 |
| MDA Space Ltd.\* |  | 171900 | 4281134 |
| TMX Group Ltd. |  | 121300 | 4640376 |
|  |  |  | 52668095 |
| ***Finland*** | ***2.2*** *%*** |  |  |
| Konecranes Oyj |  | 47600 | 3940546 |
| Metso Corp. |  | 378568 | 5217999 |
|  |  |  | 9158545 |
| ***France*** | ***2.4*** *%*** |  |  |
| Nexans SA\* |  | 25700 | 3826868 |
| Spie SA |  | 110500 | 5973473 |
|  |  |  | 9800341 |
| ***Germany*** | ***8.0*** *%*** |  |  |
| Auto1 Group SE\* |  | 251000 | 8586068 |
| CTS Eventim AG & Co. |  | 86051 | 8447545 |
| DWS Group GmbH & Co KGaA |  | 86500 | 5432267 |
| Friedrich Vorwerk Group SE\* |  | 40600 | 3919687 |
| IONOS Group SE\* |  | 132400 | 6195832 |
|  |  |  | 32581399 |
| ***Italy*** | ***5.2*** *%*** |  |  |
| Brunello Cucinelli SpA |  | 51800 | 5674539 |
| De' Longhi SpA |  | 161600 | 5859812 |
| Fincantieri SpA\* |  | 287000 | 7544717 |
| Webuild SpA |  | 529600 | 2204573 |
|  |  |  | 21283641 |
| ***Japan*** | ***26.1*** *%*** |  |  |
| Anycolor, Inc.\* |  | 120800 | 4602009 |
| BayCurrent, Inc. |  | 158500 | 9314571 |
| BIPROGY, Inc. |  | 75300 | 3071931 |
| Food & Life Cos. Ltd. |  | 254100 | 13265448 |
| IHI Corp. |  | 251300 | 4680280 |
| JVCKenwood Corp. |  | 246400 | 1917348 |
| Kawasaki Heavy Industries Ltd. |  | 53900 | 3557376 |
| Mitsui E&S Co. Ltd. |  | 273500 | 8251371 |
| Organo Corp. |  | 67700 | 5186628 |
| PAL GROUP Hldgs. Co. Ltd.\* |  | 309000 | 5251602 |
| Rakuten Bank Ltd.\* |  | 103900 | 5799638 |
| Ryohin Keikaku Co. Ltd. |  | 270700 | 5386162 |
| Sanrio Co. Ltd. |  | 195500 | 9176785 |
| SCSK Corp. |  | 135200 | 4046968 |
| Simplex Hldgs., Inc.\* |  | 189100 | 5549668 |
| Sumitomo Pharma Co. Ltd.\* |  | 517400 | 5996129 |
| Systena Corp. |  | 708900 | 2536867 |
| Taisei Corp. |  | 78700 | 5408052 |
| Takasago Thermal Engineering Co. Ltd. |  | 144200 | 4013337 |
|  |  |  | 107012170 |
| ***Netherlands*** | ***2.1*** *%*** |  |  |
| Koninklijke Heijmans NV |  | 70900 | 4936264 |
| SBM Offshore NV |  | 146100 | 3738654 |
|  |  |  | 8674918 |
| ***Norway*** | ***5.5*** *%*** |  |  |
| Aker Solutions ASA |  | 1002400 | 3011901 |
| Gjensidige Forsikring ASA |  | 217500 | 6391570 |
| Nordic Semiconductor ASA\* |  | 324000 | 4992397 |
| Storebrand ASA |  | 543748 | 8310530 |
|  |  |  | 22706398 |
| ***Spain*** | ***1.0*** *%*** |  |  |
| Unicaja Banco SA |  | 1500600 | 4129028 |
| ***Sweden*** | ***4.1*** *%*** |  |  |
| AddLife AB |  | 134100 | 2538495 |
| Clas Ohlson AB |  | 87800 | 3451402 |
| Dynavox Group AB\* |  | 351800 | 4270313 |
| Lagercrantz Group AB |  | 155100 | 3345001 |
| Mycronic AB |  | 131900 | 3023806 |
| NOBA Bank Group AB\* |  | 30200 | 301538 |
|  |  |  | 16930555 |
| ***Switzerland*** | ***5.0*** *%*** |  |  |
| Accelleron Industries AG |  | 83700 | 7087669 |
| Belimo Hldg. AG\* |  | 3936 | 4139256 |
| R&S Group Hldg. AG\* |  | 61800 | 2169924 |
| Sportradar Group AG\* |  | 258500 | 6953650 |
|  |  |  | 20350499 |
| ***United Kingdom*** | ***15.0*** *%*** |  |  |
| Babcock International Group PLC |  | 474800 | 8541292 |
| Chemring Group PLC |  | 904500 | 7183574 |
| ConvaTec Group PLC |  | 588500 | 1837361 |
| Cranswick PLC |  | 68100 | 4603271 |
| Diploma PLC |  | 81000 | 5797284 |
| Games Workshop Group PLC |  | 38850 | 7613581 |
| Greencore Group PLC |  | 1011500 | 3108227 |
| Hiscox Ltd. |  | 104900 | 1936093 |
| IMI PLC |  | 230716 | 7125606 |
| Intermediate Capital Group PLC |  | 362100 | 10870743 |
| Molten Ventures PLC\* |  | 544000 | 2823884 |
|  |  |  | 61440916 |
| ***Total Equities*** |  |  |  |
| (Cost: $302,154,382) |  |  | $398898787 |
| ***Short-Term Investments*** | ***1.7*** *%*** |  |  |
| Fidelity Investments Money Market Government Portfolio Class I 4.04%<sup>b</sup> |  | 7286810 | 7286810 |
| ***Total Short-Term Investments*** |  |  |  |
| (Cost: $7,286,810) |  |  | $7286810 |
| ***Total Investments*** | ***99.1*** *%*** |  |  |
| (Cost: $309,441,192) |  |  | $406185597 |
| Other Assets Less Liabilities | ***0.9*** *%*** |  | 3618190 |
| ***Net Assets - 100%*** |  |  | $**409803787** |

---

<sup>a</sup> Certain securities were fair valued under the discretion of the Board of Trustees <br>

<sup>b</sup> Annualized seven-day effective yield as of September 30, 2025

\* Non-income producing security during the period ended September 30, 2025

ADS - American depositary share

---

| | |
|:---|:---|
| **SECTOR ALLOCATIONS (As a Percentage of Net Assets)** | |
| Communication Services | 3.2% |
| Consumer Discretionary | 22.2% |
| Consumer Staples | 3.1% |
| Energy | 3.7% |
| Financials | 14.2% |
| Healthcare | 2.5% |
| Industrials | 33.6% |
| Information Technology | 10.7% |
| Materials | 3.1% |
| Real Estate | 1.1% |

---

Oberweis Focused International Growth Fund

Schedule of Investments (unaudited) <sup>a</sup>

September 30, 2025

---

| | | | |
|:---|:---|:---|:---|
| | | **Shares** | **Value** |
| **Equities** | ***95.0*** *%*** |  |  |
| ***Canada*** | ***1.3*** *%*** |  |  |
| Shopify, Inc.\* |  | 1100 | $163471 |
| ***France*** | ***2.2*** *%*** |  |  |
| Societe Generale SA\* |  | 4300 | 286262 |
| ***Germany*** | ***19.9*** *%*** |  |  |
| Deutsche Telekom AG |  | 5000 | 170338 |
| E.ON SE |  | 12800 | 241081 |
| Heidelberg Materials AG |  | 1700 | 384256 |
| Münchener Rückversicherungs AG |  | 300 | 191532 |
| Rheinmetall AG |  | 350 | 818664 |
| SAP SE |  | 700 | 187427 |
| Siemens AG\* |  | 700 | 188974 |
| Siemens Energy AG\* |  | 3300 | 387989 |
|  |  |  | 2570261 |
| ***Italy*** | ***4.6*** *%*** |  |  |
| UniCredit SpA |  | 7800 | 593509 |
| ***Japan*** | ***20.4*** *%*** |  |  |
| Asics Corp.\* |  | 8000 | 209340 |
| Food & Life Cos. Ltd. |  | 3700 | 193161 |
| Hitachi Ltd. |  | 5500 | 145712 |
| Mitsubishi Heavy Industries Ltd. |  | 5800 | 151781 |
| Mitsubishi UFJ Financial Group, Inc. |  | 22600 | 364569 |
| NEC Corp. |  | 16100 | 515346 |
| Sanrio Co. Ltd. |  | 3800 | 178372 |
| Sony Financial Group, Inc.\* |  | 21900 | 24286 |
| Sony Group Corp. |  | 21900 | 629553 |
| Toyota Motor Corp. |  | 11400 | 218954 |
|  |  |  | 2631074 |
| ***Netherlands*** | ***1.5*** *%*** |  |  |
| ASML Hldg. NV |  | 200 | 195027 |
| ***Singapore*** | ***2.6*** *%*** |  |  |
| Sea Ltd ADS.\* |  | 1900 | 339587 |
| ***Spain*** | ***4.3*** *%*** |  |  |
| Iberdrola SA |  | 11900 | 225246 |
| Mapfre SA |  | 68500 | 325154 |
|  |  |  | 550400 |
| ***Sweden*** | ***5.9*** *%*** |  |  |
| EQT AB |  | 4700 | 163003 |
| Saab AB\* |  | 3200 | 196615 |
| Spotify Technology SA\* |  | 300 | 209400 |
| Volvo AB |  | 6900 | 198427 |
|  |  |  | 767445 |
| ***Switzerland*** | ***10.4*** *%*** |  |  |
| ABB Ltd.\* |  | 2800 | 202605 |
| Cie Financiere Richemont SA |  | 1500 | 287932 |
| Roche Hldg. AG |  | 800 | 266370 |
| Sportradar Group AG\* |  | 8500 | 228650 |
| Zurich Insurance Group AG |  | 500 | 357369 |
|  |  |  | 1342926 |
| ***United Kingdom*** | ***19.7*** *%*** |  |  |
| AstraZeneca PLC |  | 1600 | 245105 |
| HSBC Hldgs. PLC |  | 20300 | 286477 |
| NatWest Group PLC |  | 39300 | 277573 |
| Reckitt Benckiser Group PLC |  | 5100 | 392684 |
| Rolls-Royce Hldgs. PLC |  | 62300 | 1001358 |
| Shell PLC |  | 9500 | 338567 |
|  |  |  | 2541764 |
| ***United States of America*** | ***2.2*** *%*** |  |  |
| Cadence Design Systems, Inc.\* |  | 800 | 281008 |
| ***Total Equities*** |  |  |  |
| (Cost: $9,239,842) |  |  | $12262734 |
| ***Short-Term Investments*** | ***4.8*** *%*** |  |  |
| Fidelity Investments Money Market Government Portfolio Class I 4.04%<sup>b</sup> |  | 618579 | 618579 |
| ***Total Short-Term Investments*** |  |  |  |
| (Cost: $618,579) |  |  | $618579 |
| ***Total Investments*** | ***99.8*** *%*** |  |  |
| (Cost: $9,858,421) |  |  | $12881313 |
| Other Assets Less Liabilities | ***0.2*** *%*** |  | 30041 |
| ***Net Assets - 100%*** |  |  | $**12911354** |

---

<sup>a</sup> Certain securities were fair valued under the discretion of the Board of Trustees

<sup>b</sup> Annualized seven-day effective yield as of September 30, 2025

\* Non-income producing security during the period ended September 30, 2025

ADS - American depositary share

---

| | |
|:---|:---|
| **SECTOR ALLOCATIONS (As a Percentage of Net Assets)** | |
| Communication Services | 2.9% |
| Consumer Discretionary | 17.7% |
| Consumer Staples | 3.0% |
| Energy | 2.6% |
| Financials | 22.2% |
| Healthcare | 4.0% |
| Industrials | 25.5% |
| Information Technology | 10.4% |
| Materials | 3.0% |
| Utilities | 3.7% |

---

Fair Value Measurements

In accordance with Financial Accounting Standards Board ("FASB") guidance, the Funds utilize the "Fair Value Measurements and Disclosures" to define fair value, set out a framework for measuring fair value, and expand disclosures regarding fair value measurements.

Various inputs are used in determining the value of the Fund's investments. These inputs are summarized in the three levels listed below:

&nbsp;&nbsp;&nbsp;&nbsp;· Level
1 – Quoted prices in active markets for identical securities.

&nbsp;&nbsp;&nbsp;&nbsp;· Level
2 – Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit
risk, etc).

&nbsp;&nbsp;&nbsp;&nbsp;· Level
3 – Significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments).

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The following is a summary of the inputs used to value the Funds' net assets as of September 30, 2025:

---

| | | |
|:---|:---|:---|
|  | Micro-Cap<br> Fund | Small-Cap<br> Opportunities<br> Fund |
| Level 1 – Equities | $848614068 | $1637378497 |
| Level 2 - Equities | - | - |
| Level 3 | - | - |
| Total Investments | $848614068 | $1637378497 |

---

---

| | | |
|:---|:---|:---|
|  | Global<br> Opportunities<br> Fund | China<br> Opportunities<br> Fund |
| Level 1 - Equities |  |  |
| Total Asia | $2381038 | $53682702 |
| Total Europe | 529930 |  |
| Total North America | 35230542 |  |
| Total Short-Term Investments | - | 1823671 |
| Total Level 1 | 38141510 | 55506373 |
| Level 2 - Equities |  |  |
| Total Asia | 4919545 |  |
| Total Europe | 12571650 | - |
| Total Level 2 | 17491195 | - |
| Level 3 | - | - |
| Total Investments | $55632705 | $55506373 |

---

---

| | | |
|:---|:---|:---|
|  | International<br> Opportunities<br> Fund | Focused<br> International<br> Growth Fund |
| Level 1 – Equites |  |  |
| Total Asia | $- | $363873 |
| Total Europe | 13187299 | 438050 |
| Total North America | 52668095 | 444479 |
| Total Short-Term Investments | 7286810 | 618579 |
| Total Level 1 | 73142204 | 1864981 |
| Level 2 – Equities |  |  |
| Total Asia | 107012170 | 2606788 |
| Total Australia | 23739478 |  |
| Total Europe | 202291745 | 8409544 |
| Total Level 2 | 333043393 | 11016332 |
| Level 3 | - | - |
| Total Investments | $406185597 | $12881313 |

---

The Funds' assets include certain foreign securities for which a third party statistical pricing service may be employed for purposes of fair market valuation. The pricing service provides fair market valuation on days when the movement in relevant indices exceeds a predetermined threshold.

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** OBERWEIS FUNDS

- **b. Investment Company Act file number:** 811-04854

- **c. CIK number of Registrant:** 0000803020

- **d. LEI of Registrant:** 549300PK13EJ83VPPR97

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 3333 Warrenville Road

  - **City:** Lisle

  - **State:** IL

  - **Foreign country:** US

  - **Zip / Postal Code:** 60532

  - **Telephone number:** 800-245-7311

**Item A.2. Information about the Series.**

- **a. Name of Series:** Oberweis International Opportunities Fund

- **b. EDGAR series identifier (if any):** S000015622

- **c. LEI of Series:** 549300OCDCYRRORVT221

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-09-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $411032562.22

**Total Liabilities:** $1228775.03

**Net Assets:** $409803787.19

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000042583 | -0.21%               | 4.44%                | 0.45%                |
| Class ID C000247124 | -0.18%               | 4.48%                | 0.43%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $3664364.42              | $-4353217.30                               |
| Month 2  | $8606490.95              | $8666121.14                                |
| Month 3  | $-343881.79              | $1910359.42                                |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### Schedule of Portfolio Investments

| Name                           | Title                               | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Taisei Corp                    | Taisei Corp                         | CUSIP: 999999999<br>LEI: 529900TF7XJKIOWMLQ79 | Long             | EC               | CORP              | JP        |     78700 | NS      | $5408051.88   | 1.32%             |  |  |  | No            |                  2 | On Loan: No      |
| Takasago Thermal               | Takasago Thermal Engineering Co Ltd | CUSIP: 999999999<br>LEI: 353800VL9UEB0RUJLC67 | Long             | EC               | CORP              | JP        |    144200 | NS      | $4013336.64   | 0.98%             |  |  |  | No            |                  2 | On Loan: No      |
| Systena Corp                   | Systena Corp                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |    708900 | NS      | $2536867.33   | 0.62%             |  |  |  | No            |                  2 | On Loan: No      |
| PAL GROUP Holdings Co Ltd      | PAL GROUP Holdings Co Ltd           | CUSIP: 999999999<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |    309000 | NS      | $5251601.52   | 1.28%             |  |  |  | No            |                  2 | On Loan: No      |
| Food & Life Cos Ltd            | Food & Life Cos Ltd                 | CUSIP: 999999999<br>LEI: 529900CWF7GCVZKS5M87 | Long             | EC               | CORP              | JP        |    254100 | NS      | $13265448.02  | 3.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Simplex Holdings Inc           | Simplex Holdings Inc                | CUSIP: 999999999<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |    189100 | NS      | $5549667.70   | 1.35%             |  |  |  | No            |                  2 | On Loan: No      |
| Sumitomo Pharma Co Ltd         | Sumitomo Pharma Co Ltd              | CUSIP: 999999999<br>LEI: 529900D60UKVYLJ2OJ79 | Long             | EC               | CORP              | JP        |    517400 | NS      | $5996128.78   | 1.46%             |  |  |  | No            |                  2 | On Loan: No      |
| Anycolor Inc                   | Anycolor Inc                        | CUSIP: 999999999<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |    120800 | NS      | $4602009.00   | 1.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Rakuten Bank Ltd               | Rakuten Bank Ltd                    | CUSIP: 999999999<br>LEI: 3538007HFAF2NOCBUE44 | Long             | EC               | CORP              | JP        |    103900 | NS      | $5799637.79   | 1.42%             |  |  |  | No            |                  2 | On Loan: No      |
| Organo Corp                    | Organo Corp                         | CUSIP: 999999999<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     67700 | NS      | $5186628.27   | 1.27%             |  |  |  | No            |                  2 | On Loan: No      |
| BayCurrent Inc                 | BayCurrent Inc                      | CUSIP: J0433F103<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |    158500 | NS      | $9314570.68   | 2.27%             |  |  |  | No            |                  2 | On Loan: No      |
| JVCKenwood Corp                | JVCKenwood Corp                     | CUSIP: 999999999<br>LEI: 529900GGYCEJXM5Y6961 | Long             | EC               | CORP              | JP        |    246400 | NS      | $1917348.39   | 0.47%             |  |  |  | No            |                  2 | On Loan: No      |
| Mitsui E&S Co Ltd              | Mitsui E&S Co Ltd                   | CUSIP: 999999999<br>LEI: 5493007T2YKKWF2NYN82 | Long             | EC               | CORP              | JP        |    273500 | NS      | $8251370.81   | 2.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Kawasaki Heavy Industries Ltd  | Kawasaki Heavy Industries Ltd       | CUSIP: 999999999<br>LEI: 5493008FFSI8SQ74AT93 | Long             | EC               | CORP              | JP        |     53900 | NS      | $3557376.05   | 0.87%             |  |  |  | No            |                  2 | On Loan: No      |
| IHI Corp                       | IHI Corp                            | CUSIP: 999999999<br>LEI: 549300ETQIESIUQ2OE26 | Long             | EC               | CORP              | JP        |    251300 | NS      | $4680280.29   | 1.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Ryohin Keikaku Co Ltd          | Ryohin Keikaku Co Ltd               | CUSIP: 999999999<br>LEI: 549300PMNF56J66BY371 | Long             | EC               | CORP              | JP        |    270700 | NS      | $5386161.57   | 1.31%             |  |  |  | No            |                  2 | On Loan: No      |
| BIPROGY Inc                    | BIPROGY Inc                         | CUSIP: 999999999<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |     75300 | NS      | $3071930.83   | 0.75%             |  |  |  | No            |                  2 | On Loan: No      |
| Sanrio Co Ltd                  | Sanrio Co Ltd                       | CUSIP: J68209105<br>LEI: 3538002Q5JQLOMSPH125 | Long             | EC               | CORP              | JP        |    195500 | NS      | $9176784.54   | 2.24%             |  |  |  | No            |                  2 | On Loan: No      |
| SCSK Corp                      | SCSK Corp                           | CUSIP: 999999999<br>LEI: 529900SNGFXMSUBB7864 | Long             | EC               | CORP              | JP        |    135200 | NS      | $4046967.74   | 0.99%             |  |  |  | No            |                  2 | On Loan: No      |
| Accelleron Industries AG       | Accelleron Industries AG            | CUSIP: 999999999<br>LEI: 254900KS0MD2PAARXD14 | Long             | EC               | CORP              | CH        |     83700 | NS      | $7087668.90   | 1.73%             |  |  |  | No            |                  2 | On Loan: No      |
| Auto1 Group SE                 | Auto1 Group SE                      | CUSIP: 999999999<br>LEI: 391200S2LPXG5ZD5G304 | Long             | EC               | CORP              | DE        |    251000 | NS      | $8586068.21   | 2.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Alamos Gold Inc                | Alamos Gold Inc                     | CUSIP: 011532959<br>LEI: 894500GIHFJZW7YS9660 | Long             | EC               | CORP              | CA        |    186200 | NS      | $6490308.26   | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Aker Solutions ASA             | Aker Solutions ASA                  | CUSIP: 999999999<br>LEI: 5967007LIEEXZXG42836 | Long             | EC               | CORP              | NO        |   1002400 | NS      | $3011900.82   | 0.73%             |  |  |  | No            |                  2 | On Loan: No      |
| AddLife AB                     | AddLife AB                          | CUSIP: 999999999<br>LEI: 5493005T3M7CD7XWE013 | Long             | EC               | CORP              | SE        |    134100 | NS      | $2538494.60   | 0.62%             |  |  |  | No            |                  2 | On Loan: No      |
| ANDRITZ AG                     | ANDRITZ AG                          | CUSIP: 999999999<br>LEI: 549300VZKC61IR5U8G96 | Long             | EC               | CORP              | AT        |     37600 | NS      | $2652636.30   | 0.65%             |  |  |  | No            |                  2 | On Loan: No      |
| AtkinsRealis Group Inc         | AtkinsRealis Group Inc              | CUSIP: 04764T955<br>LEI: UL01OYG5OMLM5G6CFM03 | Long             | EC               | CORP              | CA        |     70200 | NS      | $5066385.00   | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Aritzia Inc                    | Aritzia Inc                         | CUSIP: 04045U953<br>LEI: 549300U83HKFRL1EX527 | Long             | EC               | CORP              | CA        |    107800 | NS      | $6520517.35   | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Babcock International Group PL | Babcock International Group PLC     | CUSIP: 999999999<br>LEI: 213800TSKOLX4EU6L377 | Long             | EC               | CORP              | GB        |    474800 | NS      | $8541291.88   | 2.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Brunello Cucinelli SpA         | Brunello Cucinelli SpA              | CUSIP: 999999999<br>LEI: 5493003CX2RZ0FOBH256 | Long             | EC               | CORP              | IT        |     51800 | NS      | $5674538.58   | 1.38%             |  |  |  | No            |                  2 | On Loan: No      |
| Belimo Holding AG              | Belimo Holding AG                   | CUSIP: 999999999<br>LEI: 506700339DLX749VEM23 | Long             | EC               | CORP              | CH        |      3936 | NS      | $4139255.51   | 1.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Catapult Sports Ltd            | Catapult Sports Ltd                 | CUSIP: 999999999<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |   1095500 | NS      | $4986471.28   | 1.22%             |  |  |  | No            |                  2 | On Loan: No      |
| CES Energy Solutions Corp      | CES Energy Solutions Corp           | CUSIP: 15713J955<br>LEI: 984500NF54914EB1B646 | Long             | EC               | CORP              | CA        |    682900 | NS      | $4607624.49   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Charter Hall Group             | Charter Hall Group                  | CUSIP: 999999999<br>LEI: N/A                  | Long             |  | CORP              | AU        |    296500 | NS      | $4456367.73   | 1.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Chemring Group PLC             | Chemring Group PLC                  | CUSIP: G20860105<br>LEI: 213800U9A54VQJ5P2J41 | Long             | EC               | CORP              | GB        |    904500 | NS      | $7183574.03   | 1.75%             |  |  |  | No            |                  2 | On Loan: No      |
| Clas Ohlson AB                 | Clas Ohlson AB                      | CUSIP: 999999999<br>LEI: 549300MH8OETHBBKJU80 | Long             | EC               | CORP              | SE        |     87800 | NS      | $3451401.55   | 0.84%             |  |  |  | No            |                  2 | On Loan: No      |
| Convatec Group PLC             | Convatec Group PLC                  | CUSIP: 999999999<br>LEI: 213800LS272L4FIDOH92 | Long             | EC               | CORP              | GB        |    588500 | NS      | $1837360.95   | 0.45%             |  |  |  | No            |                  2 | On Loan: No      |
| Cranswick PLC                  | Cranswick PLC                       | CUSIP: 999999999<br>LEI: 549300LDZLPU51XOSK43 | Long             | EC               | CORP              | GB        |     68100 | NS      | $4603270.60   | 1.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Definity Financial Corp        | Definity Financial Corp             | CUSIP: 24477T951<br>LEI: 984500D5F3FC49D00C44 | Long             | EC               | CORP              | CA        |     79200 | NS      | $4070687.65   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| De' Longhi SpA                 | De' Longhi SpA                      | CUSIP: 999999999<br>LEI: 8156000E09A52C4F8A38 | Long             | EC               | CORP              | IT        |    161600 | NS      | $5859811.79   | 1.43%             |  |  |  | No            |                  2 | On Loan: No      |
| DO & CO AG                     | DO & CO AG                          | CUSIP: 999999999<br>LEI: 5299002NFQKOBT1E8569 | Long             | EC               | CORP              | AT        |     22100 | NS      | $5770167.82   | 1.41%             |  |  |  | No            |                  2 | On Loan: No      |
| Diploma PLC                    | Diploma PLC                         | CUSIP: G27664112<br>LEI: 2138008OGI7VYG8FGR19 | Long             | EC               | CORP              | GB        |     81000 | NS      | $5797284.16   | 1.41%             |  |  |  | No            |                  2 | On Loan: No      |
| DWS Group GmbH & Co KGaA       | DWS Group GmbH & Co KGaA            | CUSIP: 999999999<br>LEI: 529900VM3464806ERS69 | Long             | EC               | CORP              | DE        |     86500 | NS      | $5432267.02   | 1.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Dynavox Group AB               | Dynavox Group AB                    | CUSIP: 999999999<br>LEI: 5493008X1XZR4R5R0P66 | Long             | EC               | CORP              | SE        |    351800 | NS      | $4270313.30   | 1.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Element Fleet Management Corp  | Element Fleet Management Corp       | CUSIP: 286181953<br>LEI: 5493000PGBS1C22ELQ16 | Long             | EC               | CORP              | CA        |    143500 | NS      | $3716131.35   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| CTS Eventim AG & Co KGaA       | CTS Eventim AG & Co KGaA            | CUSIP: 999999999<br>LEI: 529900FDHSN08UBJII80 | Long             | EC               | CORP              | DE        |     86051 | NS      | $8447545.25   | 2.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Fincantieri SpA                | Fincantieri SpA                     | CUSIP: 999999999<br>LEI: 8156005BDF49128B6239 | Long             | EC               | CORP              | IT        |    287000 | NS      | $7544717.19   | 1.84%             |  |  |  | No            |                  2 | On Loan: No      |
| Fidelity Government Portfolio  | Fidelity Government Portfolio       | CUSIP: 316175108<br>LEI: 549300FQDFZGLUOCWN51 | Long             | STIV             | CORP              | US        |   7286810 | OU      | $7286810.49   | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Games Workshop Group PLC       | Games Workshop Group PLC            | CUSIP: 999999999<br>LEI: 213800RP9QJQYGWHNT41 | Long             | EC               | CORP              | GB        |     38850 | NS      | $7613581.21   | 1.86%             |  |  |  | No            |                  2 | On Loan: No      |
| Gjensidige Forsikring ASA      | Gjensidige Forsikring ASA           | CUSIP: 999999999<br>LEI: 5967007LIEEXZX6FAO47 | Long             | EC               | CORP              | NO        |    217500 | NS      | $6391569.95   | 1.56%             |  |  |  | No            |                  2 | On Loan: No      |
| Genesis Minerals Ltd           | Genesis Minerals Ltd                | CUSIP: 999999999<br>LEI: 894500AK5BVRCNP0FP48 | Long             | EC               | CORP              | AU        |   1595500 | NS      | $6171490.70   | 1.51%             |  |  |  | No            |                  2 | On Loan: No      |
| Greencore Group PLC            | Greencore Group PLC                 | CUSIP: 999999999<br>LEI: 635400GGBEWULJXM5868 | Long             | EC               | CORP              | IE        |   1011500 | NS      | $3108226.87   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Groupe Dynamite Inc            | Groupe Dynamite Inc                 | CUSIP: 39944C951<br>LEI: 894500PR7X62F01X8R60 | Long             | EC               | CORP              | CA        |    115700 | NS      | $4964865.99   | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Molten Ventures PLC            | Molten Ventures PLC                 | CUSIP: G28295106<br>LEI: 213800IPCR3SAYJWSW10 | Long             | EC               | CORP              | GB        |    544000 | NS      | $2823883.81   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Koninklijke Heijmans N.V       | Koninklijke Heijmans N.V            | CUSIP: 999999999<br>LEI: 724500OUE3PCA809DZ79 | Long             |  | CORP              | NL        |     70900 | NS      | $4936264.76   | 1.20%             |  |  |  | No            |                  2 | On Loan: No      |
| Hiscox Ltd                     | Hiscox Ltd                          | CUSIP: 999999999<br>LEI: 5493007JXOLJ0QCY2D70 | Long             | EC               | CORP              | BM        |    104900 | NS      | $1936093.42   | 0.47%             |  |  |  | No            |                  2 | On Loan: No      |
| iA Financial Corp Inc          | iA Financial Corp Inc               | CUSIP: 45075E955<br>LEI: 549300ZXLJVHQAIXV215 | Long             | EC               | CORP              | CA        |     29600 | NS      | $3365386.22   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| ICG PLC                        | ICG PLC                             | CUSIP: 999999999<br>LEI: 549300OGASR5WRKJ8R68 | Long             | EC               | CORP              | GB        |    362100 | NS      | $10870742.59  | 2.65%             |  |  |  | No            |                  2 | On Loan: No      |
| IMI PLC                        | IMI PLC                             | CUSIP: 999999999<br>LEI: 2138002W9Q21PF751R30 | Long             | EC               | CORP              | GB        |    230716 | NS      | $7125605.95   | 1.74%             |  |  |  | No            |                  2 | On Loan: No      |
| IONOS Group SE                 | IONOS Group SE                      | CUSIP: 999999999<br>LEI: 54930038KPLOYRDHV375 | Long             | EC               | CORP              | DE        |    132400 | NS      | $6195831.93   | 1.51%             |  |  |  | No            |                  2 | On Loan: No      |
| JB Hi-Fi Ltd                   | JB Hi-Fi Ltd                        | CUSIP: 999999999<br>LEI: 529900TPC8H040Y3ZQ65 | Long             | EC               | CORP              | AU        |     83812 | NS      | $6432211.92   | 1.57%             |  |  |  | No            |                  2 | On Loan: No      |
| Konecranes Oyj                 | Konecranes Oyj                      | CUSIP: 999999999<br>LEI: 549300EF0CDEQZBMA096 | Long             | EC               | CORP              | FI        |     47600 | NS      | $3940545.71   | 0.96%             |  |  |  | No            |                  2 | On Loan: No      |
| Lagercrantz Group AB           | Lagercrantz Group AB                | CUSIP: W5303A147<br>LEI: 5493002L6I4YHANEYR87 | Long             | EC               | CORP              | SE        |    155100 | NS      | $3345001.09   | 0.82%             |  |  |  | No            |                  2 | On Loan: No      |
| MDA Space Ltd                  | MDA Space Ltd                       | CUSIP: 55293N950<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |    171900 | NS      | $4281133.87   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Metso Oyj                      | Metso Oyj                           | CUSIP: 999999999<br>LEI: 549300R0VN9C371W0E07 | Long             | EC               | CORP              | FI        |    378568 | NS      | $5217998.56   | 1.27%             |  |  |  | No            |                  2 | On Loan: No      |
| Maple Leaf Foods Inc           | Maple Leaf Foods Inc                | CUSIP: 564905958<br>LEI: 549300LX07S5J8F76F37 | Long             | EC               | CORP              | CA        |    191100 | NS      | $4944679.89   | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Mycronic AB                    | Mycronic AB                         | CUSIP: 999999999<br>LEI: 549300S5CCFESE4C6Y07 | Long             | EC               | CORP              | SE        |    131900 | NS      | $3023805.82   | 0.74%             |  |  |  | No            |                  2 | On Loan: No      |
| Nexans SA                      | Nexans SA                           | CUSIP: 999999999<br>LEI: 96950015FU78G84UIV14 | Long             | EC               | CORP              | FR        |     25700 | NS      | $3826868.19   | 0.93%             |  |  |  | No            |                  2 | On Loan: No      |
| NOBA Bank Group AB             | NOBA Bank Group AB                  | CUSIP: 999999999<br>LEI: 21380057HUGFEAF25W84 | Long             | EC               | CORP              | SE        |     30200 | NS      | $301538.07    | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Nordic Semiconductor ASA       | Nordic Semiconductor ASA            | CUSIP: 999999999<br>LEI: 5967007LIEEXZXJGFK95 | Long             | EC               | CORP              | NO        |    324000 | NS      | $4992397.29   | 1.22%             |  |  |  | No            |                  2 | On Loan: No      |
| R&S Group Holding AG           | R&S Group Holding AG                | CUSIP: 999999999<br>LEI: 549300BKHOM0Y2GJZJ41 | Long             | EC               | CORP              | CH        |     61800 | NS      | $2169924.46   | 0.53%             |  |  |  | No            |                  2 | On Loan: No      |
| SBM Offshore NV                | SBM Offshore NV                     | CUSIP: 999999999<br>LEI: 549300RDGCRYZ5QE6513 | Long             | EC               | CORP              | NL        |    146100 | NS      | $3738654.06   | 0.91%             |  |  |  | No            |                  2 | On Loan: No      |
| SPIE SA                        | SPIE SA                             | CUSIP: 999999999<br>LEI: 969500TJNS5GSFWJ8X85 | Long             | EC               | CORP              | FR        |    110500 | NS      | $5973473.29   | 1.46%             |  |  |  | No            |                  2 | On Loan: No      |
| Sportradar Group AG            | Sportradar Group AG                 | CUSIP: H8088L103<br>LEI: 549300H1P33YOAT7Z533 | Long             | EC               | CORP              | CH        |    258500 | NS      | $6953650.00   | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Storebrand ASA                 | Storebrand ASA                      | CUSIP: 999999999<br>LEI: 5967007LIEEXZX7NA051 | Long             | EC               | CORP              | NO        |    543748 | NS      | $8310529.66   | 2.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Technology One Ltd             | Technology One Ltd                  | CUSIP: 999999999<br>LEI: 875500YEWBJIM91P9N12 | Long             | EC               | CORP              | AU        |     66500 | NS      | $1692936.08   | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |
| Unicaja Banco SA               | Unicaja Banco SA                    | CUSIP: 999999999<br>LEI: 5493007SJLLCTM6J6M37 | Long             | EC               | CORP              | ES        |   1500600 | NS      | $4129028.27   | 1.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Friedrich Vorwerk Group SE     | Friedrich Vorwerk Group SE          | CUSIP: 999999999<br>LEI: 529900NBM89YAM5ENI18 | Long             | EC               | CORP              | DE        |     40600 | NS      | $3919687.39   | 0.96%             |  |  |  | No            |                  2 | On Loan: No      |
| Webuild SpA                    | Webuild SpA                         | CUSIP: 999999999<br>LEI: 549300UKR289DF4UXQ47 | Long             | EC               | CORP              | IT        |    529600 | NS      | $2204573.47   | 0.54%             |  |  |  | No            |                  2 | On Loan: No      |
| TMX Group Ltd                  | TMX Group Ltd                       | CUSIP: 87262K956<br>LEI: 549300N65GFVKSHGJW59 | Long             | EC               | CORP              | CA        |    121300 | NS      | $4640376.52   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-26

**Name of Applicant:** The Oberweis Funds

**Signature:** Eric Hannemann

**Name of Signer:** Eric Hannemann

**Title:** Treasurer