# EDGAR Filing Document

**Accession Number:** 0001196878
**File Stem:** 0001413042-25-000975
**Filing Date:** 2025-11
**Character Count:** 43325
**Document Hash:** 896cdb80dd3f6587f8ac6c5931632361
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001413042-25-000975.hdr.sgml**: 20251125

**ACCESSION NUMBER**: 0001413042-25-000975

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251125

**DATE AS OF CHANGE**: 20251125

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PARADIGM FUNDS
- **CENTRAL INDEX KEY:** 0001196878

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** OH

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21233
- **FILM NUMBER:** 251516210

**BUSINESS ADDRESS:**
- **STREET 1:** NINE ELK STREET
- **CITY:** ALBANY
- **STATE:** NY
- **ZIP:** 12207
- **BUSINESS PHONE:** 5184313516

## Series and Classes Contracts Data

### Paradigm Micro-Cap Fund (Series ID: S000020362)

| Class ID   | Class Name              | Ticker Symbol   |
|:---|:---|:---|
| C000057148 | Paradigm Micro-Cap Fund | PVIVX           |

## Nport-Ex

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Paradigm Micro-Cap Fund** | **Paradigm Micro-Cap Fund** | **Paradigm Micro-Cap Fund** | **Paradigm Micro-Cap Fund** | **Paradigm Micro-Cap Fund** |
|  |  | **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
|  |  | **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** |
| **Shares** |  |  | **Fair Value** | **% of Net Assets** |
| **COMMON STOCKS** | **COMMON STOCKS** |  |  |  |
| **Computer Communications Equipment** | **Computer Communications Equipment** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;193900 | A10 Networks, Inc. |  | $3519285 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240000 | Extreme Networks, Inc. \* |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4956000 |  |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8475285 | 5.69% |
| **Computer Peripheral Equipment, NEC** | **Computer Peripheral Equipment, NEC** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | Xerox Corp. |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2256000 | 1.51% |
| **Dental Equipment & Supplies** | **Dental Equipment & Supplies** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;230300 | Dentsply Sirona, Inc. |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2922507 | 1.96% |
| **Footwear, (No Rubber)** | **Footwear, (No Rubber)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;65000 | Caleres, Inc. |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;847600 | 0.57% |
| **Household Audio & Video Equipment** | **Household Audio & Video Equipment** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;149200 | Arlo Technologies, Inc. \* |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2528940 | 1.70% |
| **Household Furniture** | **Household Furniture** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69204 | Hooker Furnishings Corporation | Hooker Furnishings Corporation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;702421 | 0.47% |
| **In Vitro & In Vivo Diagnostic Substances** | **In Vitro & In Vivo Diagnostic Substances** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;185012 | QuidelOrtho Corporation \* |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5448603 | 3.66% |
| **Industrial Organic Chemicals** | **Industrial Organic Chemicals** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5950 | Sensient Technologies Corporation | Sensient Technologies Corporation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;558407 | 0.37% |
| **Measuring & Controlling Devices, NEC** | **Measuring & Controlling Devices, NEC** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | Onto Innovation Inc. \* |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5168800 | 3.47% |
| **Metalworking Machinery & Equipment** | **Metalworking Machinery & Equipment** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1023952 | NN, Inc. \* |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2109341 | 1.42% |
| **Miscellaneous Manufacturing Industries** | **Miscellaneous Manufacturing Industries** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5200 | Hillenbrand, Inc. |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;140608 | 0.09% |
| **Motor Vehicle Parts & Accessories** | **Motor Vehicle Parts & Accessories** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | Modine Manufacturing Company \* | Modine Manufacturing Company \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14216000 | 9.55% |
| **Orthopedic, Prosthetic & Surgical Appliances & Supplies** | **Orthopedic, Prosthetic & Surgical Appliances & Supplies** | **Orthopedic, Prosthetic & Surgical Appliances & Supplies** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;181776 | Enovis Corporation \* |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5515084 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | Lakeland Industries, Inc. |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;148000 |  |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5663084 | 3.80% |
| **Retail - Catalog & Mail-Order Houses** | **Retail - Catalog & Mail-Order Houses** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | Insight Enterprises, Inc. \* |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4536400 | 3.05% |
| **Retail - Family Clothing Stores** | **Retail - Family Clothing Stores** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13300 | American Eagle Outfitters, Inc. | American Eagle Outfitters, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;227563 | 0.15% |
| **Semiconductors & Related Devices** | **Semiconductors & Related Devices** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120000 | Formfactor, Inc. \* |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4370400 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16600 | Ichor Holdings, Ltd. \* |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;290832 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33700 | Kulicke & Soffa Industries Inc. (Singapore) | Kulicke & Soffa Industries Inc. (Singapore) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1369568 |  |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6030800 | 4.05% |
| **Services - Business Services (NEC)** | **Services - Business Services (NEC)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | ACV Auctions - Class A \* |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;991000 | 0.67% |
| **Services - Computer Integrated Systems Design** | **Services - Computer Integrated Systems Design** | **Services - Computer Integrated Systems Design** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | Ribbon Communications Inc. \* | Ribbon Communications Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1900000 | 1.28% |
| **Services - Computer Programming Services** | **Services - Computer Programming Services** | **Services - Computer Programming Services** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;76000 | TruBridge, Inc. \* |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1532920 | 1.03% |
| **Services - Health Services** | **Services - Health Services** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;180000 | Pennant Group, Inc. \* |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4539600 | 3.05% |
| **Services - Help Supply Services** | **Services - Help Supply Services** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;55000 | Cross Country Healthcare, Inc. \* | Cross Country Healthcare, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;781000 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;500000 | TTEC Holdings, Inc. \* |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1680000 |  |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2461000 | 1.65% |
| **Services - Home Health Care Services** | **Services - Home Health Care Services** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19700 | Addus HomeCare Corporation \* | Addus HomeCare Corporation \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2324403 | 1.56% |
| **Services - Prepackaged Software** | **Services - Prepackaged Software** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | Cerence Inc. \* |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3738000 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10900 | Progress Software Corporation | Progress Software Corporation | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;478837 |  |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4216837 | 2.83% |
| **Services - Services, NEC** | **Services - Services, NEC** | **Services - Services, NEC** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | Enviri Corporation \* |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5076000 | 3.41% |
| **Services - Skilled Nursing Care Facilities** | **Services - Skilled Nursing Care Facilities** | **Services - Skilled Nursing Care Facilities** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | The Ensign Group, Inc. |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6910800 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;400000 | PACS Group, Inc. \* |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5492000 |  |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12402800 | 8.33% |
| **Special Industry Machinery (No Metalworking Machinery)** | **Special Industry Machinery (No Metalworking Machinery)** | **Special Industry Machinery (No Metalworking Machinery)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11900 | Kadant Inc. |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3541202 | 2.38% |
| **Special Industry Machinery, NEC** | **Special Industry Machinery, NEC** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9800 | Azenta, Inc. \* |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;281456 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | Veeco Instruments Inc. \* |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4564500 |  |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4845956 | 3.25% |
| **Surgical & Medical Instruments & Apparatus** | **Surgical & Medical Instruments & Apparatus** | **Surgical & Medical Instruments & Apparatus** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | AngioDynamics, Inc. \* |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2234000 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60900 | AtriCure, Inc. \* |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2146725 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;440000 | Integra Lifesciences Holdings \* | Integra Lifesciences Holdings \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6305200 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | MiMedx Group, Inc. \* |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1396000 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;440000 | Orthofix Medical Inc. \* |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6441600 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;134000 | OrthoPediatrics Corp. \* |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2483020 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;250000 | Tactile Systems Technology, Inc. \* | Tactile Systems Technology, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3460000 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200000 | TELA Bio, Inc. \* |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;298000 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;150000 | Treace Medical Concepts, Inc. \* | Treace Medical Concepts, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1006500 |  |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25771045 | 17.30% |
| **Telephone & Telegraph Apparatus** | **Telephone & Telegraph Apparatus** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | ADTRAN Holdings, Inc. \* |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;938000 | 0.63% |
| **Wholesale - Medical, Dental & Hospital Equipment & Supplies** | **Wholesale - Medical, Dental & Hospital Equipment & Supplies** | **Wholesale - Medical, Dental & Hospital Equipment & Supplies** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;600000 | Owens & Minor, Inc. |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2880000 | 1.93% |
| **Women's, Misses', and Juniors Outerwear** | **Women's, Misses', and Juniors Outerwear** | **Women's, Misses', and Juniors Outerwear** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;260000 | J.Jill, Inc. |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4459000 | 2.99% |
| **Wood Household Furniture, (No Upholstered)** | **Wood Household Furniture, (No Upholstered)** | **Wood Household Furniture, (No Upholstered)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280000 | MasterBrand, Inc. \* |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3687600 | 2.48% |
| **Total for Common Stocks (Cost $99,856,324)** | **Total for Common Stocks (Cost $99,856,324)** | **Total for Common Stocks (Cost $99,856,324)** | &nbsp;&nbsp;&nbsp;&nbsp;143399722 | 96.28% |
| **CONTINGENT VALUE RIGHTS** | **CONTINGENT VALUE RIGHTS** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;300000 | Pacira BioSciences Inc. Contingent Value Rights \* + | Pacira BioSciences Inc. Contingent Value Rights \* + | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102000 | 0.07% |
| **Total for Contingent Value Rights (Cost $186,000)** | **Total for Contingent Value Rights (Cost $186,000)** | **Total for Contingent Value Rights (Cost $186,000)** |  |  |
| **MONEY MARKET FUNDS** | **MONEY MARKET FUNDS** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7721970 | Goldman Sachs Financial Square Government Fund | Goldman Sachs Financial Square Government Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7721970 | 5.19% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Institutional Class - 3.99% \*\* | &nbsp;&nbsp;&nbsp;&nbsp;Institutional Class - 3.99% \*\* |  |  |
| **Total for Money Market Funds (Cost $7,721,970)** | **Total for Money Market Funds (Cost $7,721,970)** | **Total for Money Market Funds (Cost $7,721,970)** |  |  |
| **Total Investment Securities** | **Total Investment Securities** |  | &nbsp;&nbsp;&nbsp;&nbsp;151223692 | 101.54% |
|  | **(Cost $107,764,294)** |  |  |  |
| **Liabilities in Excess of Other Assets** | **Liabilities in Excess of Other Assets** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2288395) | -1.54% |
| **Net Assets** |  |  | $148935297 | 100.00% |
| \* Non-Income Producing Securities. | \* Non-Income Producing Securities. |  |  |  |
| \*\* The rate shown represents the 7-day yield at September 30, 2025. | \*\* The rate shown represents the 7-day yield at September 30, 2025. | \*\* The rate shown represents the 7-day yield at September 30, 2025. | \*\* The rate shown represents the 7-day yield at September 30, 2025. | \*\* The rate shown represents the 7-day yield at September 30, 2025. |
| + Level 3 | + Level 3 | + Level 3 | + Level 3 | + Level 3 |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

- **b. Investment Company Act file number:** 811-21233

- **c. CIK number of Registrant:** 0001196878

- **d. LEI of Registrant:** 549300PJ2B0KCKLXZR09

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

  - **Street Address 1:** NINE ELK STREET

  - **City:** ALBANY

  - **Zip / Postal Code:** 12207

  - **Telephone number:** 518-431-3500

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

- **a. Name of Series:** Paradigm Micro-Cap Fund

- **b. EDGAR series identifier (if any):** S000020362

- **c. LEI of Series:** 549300AZMFEW9Z3JAB86

**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:** $151372832.21

**Total Liabilities:** $2437535.49

**Net Assets:** $148935296.72

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000057148 | -0.80%               | 9.19%                | 2.96%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $6234919.71              | $-4652547.71                               |
| Month 2  | $1154248.24              | $8714560.50                                |
| Month 3  | $2099748.29              | $2171225.98                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| A10 Networks, Inc.                                                                       | A10 Networks, Inc.                                                 | CUSIP: 002121101<br>LEI: 549300UQD4IWUML81Q35 | Long             | EC               | CORP              | US        |    193900 | NS      | $3519285.00   | 2.36%             |  |  |  | No            |                  1 | On Loan: No      |
| ACV Auctions, Inc.                                                                       | ACV Auctions - Class A                                             | CUSIP: 00091G104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    100000 | NS      | $991000.00    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Addus HomeCare Corporation                                                               | Addus HomeCare Corporation                                         | CUSIP: 006739106<br>LEI: 52990090ZT33AKPDBX62 | Long             | EC               | CORP              | US        |     19700 | NS      | $2324403.00   | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| ADTRAN Holdings, Inc.                                                                    | ADTRAN Holdings, Inc.                                              | CUSIP: 00486H105<br>LEI: 549300XWTHXJVGKWU616 | Long             | EC               | CORP              | US        |    100000 | NS      | $938000.00    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| American Eagle Outfitters, Inc.                                                          | American Eagle Outfitters, Inc.                                    | CUSIP: 02553E106<br>LEI: 5299001Z9HXK01DHW793 | Long             | EC               | CORP              | US        |     13300 | NS      | $227563.00    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| AngioDynamics, Inc.                                                                      | AngioDynamics, Inc.                                                | CUSIP: 03475V101<br>LEI: 549300W3VKC5ZKMO8C28 | Long             | EC               | CORP              | US        |    200000 | NS      | $2234000.00   | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Arlo Technologies Inc.                                                                   | Arlo Technologies, Inc.                                            | CUSIP: 04206A101<br>LEI: 549300T4EUX2OQ75HV52 | Long             | EC               | CORP              | US        |    149200 | NS      | $2528940.00   | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| AtriCure, Inc.                                                                           | AtriCure, Inc.                                                     | CUSIP: 04963C209<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     60900 | NS      | $2146725.00   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Azenta, Inc.                                                                             | Azenta, Inc.                                                       | CUSIP: 114340102<br>LEI: 35ZN6X1ANPH25YN32Y17 | Long             | EC               | CORP              | US        |      9800 | NS      | $281456.00    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Caleres, Inc.                                                                            | Caleres, Inc.                                                      | CUSIP: 129500104<br>LEI: JFU6RQQJ8Z1CPOLBXQ18 | Long             | EC               | CORP              | US        |     65000 | NS      | $847600.00    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Cerence Inc.                                                                             | Cerence, Inc.                                                      | CUSIP: 156727109<br>LEI: 5493002WL2W5WMS89568 | Long             | EC               | CORP              | US        |    300000 | NS      | $3738000.00   | 2.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Cross Country Healthcare, Inc.                                                           | Cross Country Healthcare, Inc.                                     | CUSIP: 227483104<br>LEI: 54930037L0NBIPZ5S663 | Long             | EC               | CORP              | US        |     55000 | NS      | $781000.00    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Dentsply Sirona, Inc.                                                                    | Dentsply Sirona, Inc.                                              | CUSIP: 24906P109<br>LEI: 9NHEHR1SOZCYXDO8HO28 | Long             | EC               | CORP              | US        |    230300 | NS      | $2922507.00   | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Enovis Corporation                                                                       | Enovis Corporation                                                 | CUSIP: 194014502<br>LEI: 635400OP2DYYYMOIYL17 | Long             | EC               | CORP              | US        |    181776 | NS      | $5515083.84   | 3.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Enviri Corporation                                                                       | Enviri Corporation                                                 | CUSIP: 415864107<br>LEI: KAO98FK89NPNNPQGUZ43 | Long             | EC               | CORP              | US        |    400000 | NS      | $5076000.00   | 3.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Extreme Networks, Inc.                                                                   | Extreme Networks, Inc.                                             | CUSIP: 30226D106<br>LEI: 549300WRECW11X94UB57 | Long             | EC               | CORP              | US        |    240000 | NS      | $4956000.00   | 3.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Pacira BioSciences, Inc.                                                                 | Pacira BioSciences, Inc. Contingent Value Right Exp. 12/31/2030    | CUSIP: N/A<br>LEI: 549300P56LERYBDHCF69       | Long             | DE               | CORP              | US        |    300000 | NS      | $102000.00    | 0.07%             |  |  |  | No            |                  3 | On Loan: No      |
| FormFactor, Inc.                                                                         | FormFactor, Inc.                                                   | CUSIP: 346375108<br>LEI: 549300YCEEO6SZD1ZR61 | Long             | EC               | CORP              | US        |    120000 | NS      | $4370400.00   | 2.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Trust - Goldman Sachs Financial Square Government Fund Institutional Class | Goldman Sachs Financial Square Government Fund Institutional Class | CUSIP: 38141W273<br>LEI: 549300BRJMXN4GUWZ402 | Long             | STIV             | RF                | US        |   7721970 | NS      | $7721970.46   | 5.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Hillenbrand, Inc.                                                                        | Hillenbrand, Inc.                                                  | CUSIP: 431571108<br>LEI: U246OE781574J2BUD366 | Long             | EC               | CORP              | US        |      5200 | NS      | $140608.00    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Hooker Furniture Corporation                                                             | Hooker Furniture Corporation                                       | CUSIP: 439038100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     69204 | NS      | $702420.60    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Ichor Holdings, Ltd.                                                                     | Ichor Holdings, Ltd.                                               | CUSIP: G4740B105<br>LEI: 529900PS8R2JVLJ2H892 | Long             | EC               | CORP              | KY        |     16600 | NS      | $290832.00    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Insight Enterprises, Inc.                                                                | Insight Enterprises, Inc.                                          | CUSIP: 45765U103<br>LEI: 529900S8991TYW6YP792 | Long             | EC               | CORP              | US        |     40000 | NS      | $4536400.00   | 3.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Integra Lifesciences Holdings Corporation                                                | Integra Lifesciences Holdings                                      | CUSIP: 457985208<br>LEI: WB7IJCYY8YFTENS4O147 | Long             | EC               | CORP              | US        |    440000 | NS      | $6305200.00   | 4.23%             |  |  |  | No            |                  1 | On Loan: No      |
| J.Jill, Inc.                                                                             | J.Jill, Inc.                                                       | CUSIP: 46620W201<br>LEI: 529900I19PJIF8MIDL12 | Long             | EC               | CORP              | US        |    260000 | NS      | $4459000.00   | 2.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Kadant Inc.                                                                              | Kadant, Inc.                                                       | CUSIP: 48282T104<br>LEI: 549300K06LNJYBMPYP15 | Long             | EC               | CORP              | US        |     11900 | NS      | $3541202.00   | 2.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Kulicke & Soffa Industries Inc.                                                          | Kulicke & Soffa Industries Inc. (Singapore)                        | CUSIP: 501242101<br>LEI: 529900H6BEIRBF429744 | Long             | EC               | CORP              | US        |     33700 | NS      | $1369568.00   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Lakeland Industries, Inc.                                                                | Lakeland Industies, Inc.                                           | CUSIP: 511795106<br>LEI: 549300HGP70IM9WKU164 | Long             | EC               | CORP              | US        |     10000 | NS      | $148000.00    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| MasterBrand, Inc.                                                                        | MasterBrand, Inc.                                                  | CUSIP: 57638P104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    280000 | NS      | $3687600.00   | 2.48%             |  |  |  | No            |                  1 | On Loan: No      |
| MiMedx Group, Inc.                                                                       | MiMedx Group, Inc.                                                 | CUSIP: 602496101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    200000 | NS      | $1396000.00   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Modine Manufacturing Company                                                             | Modine Manufacturing Company                                       | CUSIP: 607828100<br>LEI: Z35SZFYJR8GZZRSIUU09 | Long             | EC               | CORP              | US        |    100000 | NS      | $14216000.00  | 9.55%             |  |  |  | No            |                  1 | On Loan: No      |
| NN, Inc.                                                                                 | NN, Inc.                                                           | CUSIP: 629337106<br>LEI: 549300SU3TUM6VH84645 | Long             | EC               | CORP              | US        |   1023952 | NS      | $2109341.12   | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Onto Innovation Inc.                                                                     | Onto Innovation, Inc.                                              | CUSIP: 683344105<br>LEI: 549300V1USTYXJ7TNR79 | Long             | EC               | CORP              | US        |     40000 | NS      | $5168800.00   | 3.47%             |  |  |  | No            |                  1 | On Loan: No      |
| OrthoPediatrics Corp.                                                                    | OrthoPediatrics Corp.                                              | CUSIP: 68752L100<br>LEI: 5493000KUTPFGOPAT717 | Long             | EC               | CORP              | US        |    134000 | NS      | $2483020.00   | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Orthofix Medical Inc.                                                                    | Orthofix Medical, Inc.                                             | CUSIP: 68752M108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    440000 | NS      | $6441600.00   | 4.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Owens & Minor, Inc.                                                                      | Owens & Minor, Inc.                                                | CUSIP: 690732102<br>LEI: 549300LMT5KQQXCEZ733 | Long             | EC               | CORP              | US        |    600000 | NS      | $2880000.00   | 1.93%             |  |  |  | No            |                  1 | On Loan: No      |
| PACS Group, Inc.                                                                         | PACS Group, Inc.                                                   | CUSIP: 69380Q107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    400000 | NS      | $5492000.00   | 3.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Pennant Group, Inc.                                                                      | Pennant Group, Inc.                                                | CUSIP: 70805E109<br>LEI: 5493007H2OYR6BYLDA64 | Long             | EC               | CORP              | US        |    180000 | NS      | $4539600.00   | 3.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Progress Software Corporation                                                            | Progress Software Corporation                                      | CUSIP: 743312100<br>LEI: 549300R65B3JG6972S24 | Long             | EC               | CORP              | US        |     10900 | NS      | $478837.00    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| QuidelOrtho Corp                                                                         | QuidelOrtho Corporation                                            | CUSIP: 219798105<br>LEI: 549300YU8CMO9HF53113 | Long             | EC               | CORP              | US        |    185012 | NS      | $5448603.40   | 3.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Ribbon Communications Inc.                                                               | Ribbon Communications, Inc.                                        | CUSIP: 762544104<br>LEI: 549300L1E8Z8RL7CUL52 | Long             | EC               | CORP              | US        |    500000 | NS      | $1900000.00   | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Sensient Technologies Corporation                                                        | Sensient Technologies Corporation                                  | CUSIP: 81725T100<br>LEI: CMMZHMFZQG86EI7WZU92 | Long             | EC               | CORP              | US        |      5950 | NS      | $558407.50    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| TELA Bio, Inc.                                                                           | TELA Bio, Inc.                                                     | CUSIP: 872381108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    200000 | NS      | $298000.00    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| TTEC Holdings, Inc.                                                                      | TTEC Holdings, Inc.                                                | CUSIP: 89854H102<br>LEI: GTJS1N8S8I28A7L4WG97 | Long             | EC               | CORP              | US        |    500000 | NS      | $1680000.00   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Tactile Systems Technology, Inc.                                                         | Tactile Systems Technology, Inc.                                   | CUSIP: 87357P100<br>LEI: 54930069VDTITHOTKJ98 | Long             | EC               | CORP              | US        |    250000 | NS      | $3460000.00   | 2.32%             |  |  |  | No            |                  1 | On Loan: No      |
| The Ensign Group, Inc.                                                                   | The Ensign Group, Inc.                                             | CUSIP: 29358P101<br>LEI: 5493003K4HEEA8Q0BC72 | Long             | EC               | CORP              | US        |     40000 | NS      | $6910800.00   | 4.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Treace Medical Concepts, Inc.                                                            | Treace Medical Concepts, Inc.                                      | CUSIP: 89455T109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    150000 | NS      | $1006500.00   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| TruBridge, Inc.                                                                          | TruBridge, Inc.                                                    | CUSIP: 205306103<br>LEI: 5493005Q6CJC78TGL805 | Long             | EC               | CORP              | US        |     76000 | NS      | $1532920.00   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Veeco Instruments Inc.                                                                   | Veeco Instruments, Inc.                                            | CUSIP: 922417100<br>LEI: 5493004201F72ADDZW04 | Long             | EC               | CORP              | US        |    150000 | NS      | $4564500.00   | 3.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Xerox Holdings Corporation                                                               | Xerox Corp.                                                        | CUSIP: 98421M106<br>LEI: 5493000Y33XDVO2CXC18 | Long             | EC               | CORP              | US        |    600000 | NS      | $2256000.00   | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-25

**Name of Applicant:** Paradigm Funds

**Signature:** /s/ Peter J. McMillen

**Name of Signer:** Peter J. McMillen

**Title:** Chief Financial Officer