# EDGAR Filing Document

**Accession Number:** 0001196878
**File Stem:** 0001413042-23-000129
**Filing Date:** 2023-2
**Character Count:** 19812
**Document Hash:** 55991fa1dbab546483571f2203e702a7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001413042-23-000129.hdr.sgml**: 20230221

**ACCESSION NUMBER**: 0001413042-23-000129

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230221

**DATE AS OF CHANGE**: 20230221

**PERIOD START**: 20221231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PARADIGM FUNDS
- **CENTRAL INDEX KEY:** 0001196878
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** OH

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21233
- **FILM NUMBER:** 23645897

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

## Series and Classes Contracts Data

### Paradigm Value Fund (Series ID: S000005314)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000014505 | Paradigm Value Fund | PVFAX           |

## 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

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 12207

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

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

- **a. Name of Series:** Paradigm Value Fund

- **b. EDGAR series identifier (if any):** S000005314

- **c. LEI of Series:** 549300NPWLUY0KJ0VJ69

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

- **a. Date of fiscal year-end:** 2022-12-31

- **b. Date as of which information is reported:** 2022-12-31

**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:** $48589643.32

**Total Liabilities:** $69371.88

**Net Assets:** $48520271.44

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000014505 | 12.11%               | 6.89%                | -6.26%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-363163.87              | $5737521.68                                |
| Month 2  | $368573.30               | $3038729.36                                |
| Month 3  | $12.62                   | $-3301025.34                               |

### 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        |    124300 | NS      | $2067109.00   | 4.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Absolute Software Corporation                                | Absolute Software Corp. (Canada)               | CUSIP: 00386B109<br>LEI: 549300I8AXWGBEESC731 | Long             | EC               | CORP              | CA        |     40000 | NS      | $417600.00    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Addus HomeCare Corporation                                   | Addus HomeCare Corporation                     | CUSIP: 006739106<br>LEI: 52990090ZT33AKPDBX62 | Long             | EC               | CORP              | US        |     18900 | NS      | $1880361.00   | 3.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Air Transport Services Group, Inc.                           | Air Transport Services Group, Inc.             | CUSIP: 00922R105<br>LEI: 5493000F3MSFGIXTQE27 | Long             | EC               | CORP              | US        |     37000 | NS      | $961260.00    | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| American Eagle Outfitters, Inc.                              | American Eagle Outfitters, Inc.                | CUSIP: 02553E106<br>LEI: 5299001Z9HXK01DHW793 | Long             | EC               | CORP              | US        |     67600 | NS      | $943696.00    | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Brooks Automation, Inc.                                      | Azenta, Inc.                                   | CUSIP: 114340102<br>LEI: 35ZN6X1ANPH25YN32Y17 | Long             | EC               | CORP              | US        |     28100 | NS      | $1635982.00   | 3.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Banner Corporation                                           | Banner Corporation                             | CUSIP: 06652V208<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10000 | NS      | $632000.00    | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Caleres, Inc.                                                | Caleres, Inc.                                  | CUSIP: 129500104<br>LEI: JFU6RQQJ8Z1CPOLBXQ18 | Long             | EC               | CORP              | US        |     20000 | NS      | $445600.00    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Calix, Inc.                                                  | Calix, Inc.                                    | CUSIP: 13100M509<br>LEI: 5299002RQRZ4SXSCSJ58 | Long             | EC               | CORP              | US        |     30000 | NS      | $2052900.00   | 4.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Coherent Corporation                                         | Coherent Corp.                                 | CUSIP: 19247G107<br>LEI: 549300O5C25A0MMHHU33 | Long             | EC               | CORP              | US        |     18000 | NS      | $631800.00    | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Concentrix Corporation                                       | Concentrix Corporation                         | CUSIP: 20602D101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5900 | NS      | $785644.00    | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Conduent Incorporated                                        | Conduent Incorporated                          | CUSIP: 206787103<br>LEI: 549300SFJ2D2CYY6CQ11 | Long             | EC               | CORP              | US        |    140000 | NS      | $567000.00    | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Consensus Cloud Solutions, Inc.                              | Consensus Cloud Solutions, Inc.                | CUSIP: 20848V105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      6666 | NS      | $358364.16    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Designer Brands Inc.                                         | Designer Brands Inc. - Class A                 | CUSIP: 250565108<br>LEI: 549300X8J6FI8PPRK859 | Long             | EC               | CORP              | US        |     51000 | NS      | $498780.00    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Ducommun Incorporated                                        | Ducommun Incorporated                          | CUSIP: 264147109<br>LEI: 549300Z71HMWF90S2214 | Long             | EC               | CORP              | US        |     10000 | NS      | $499600.00    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| EMCOR Group, Inc.                                            | EMCOR Group, Inc.                              | CUSIP: 29084Q100<br>LEI: 529900X0SQJB2J7YDU43 | Long             | EC               | CORP              | US        |     17900 | NS      | $2651169.00   | 5.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Extreme Networks, Inc.                                       | Extreme Networks, Inc.                         | CUSIP: 30226D106<br>LEI: 549300WRECW11X94UB57 | Long             | EC               | CORP              | US        |    100000 | NS      | $1831000.00   | 3.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Fabrinet                                                     | Fabrinet (Thailand)                            | CUSIP: G3323L100<br>LEI: 5493004TETZ6IYF7CV44 | Long             | EC               | CORP              | KY        |      6000 | NS      | $769320.00    | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| First Merchants Corporation                                  | First Merchants Corporation                    | CUSIP: 320817109<br>LEI: TZTBT0OTGQ2FEK6XMX94 | Long             | EC               | CORP              | US        |     34000 | NS      | $1397740.00   | 2.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Foot Locker, Inc.                                            | Foot Locker, Inc.                              | CUSIP: 344849104<br>LEI: 549300X383CBNP6MTV94 | Long             | EC               | CORP              | US        |     29800 | NS      | $1126142.00   | 2.32%             |  |  |  | No            |                  1 | On Loan: No      |
| GATX Corp.                                                   | GATX Corp.                                     | CUSIP: 361448103<br>LEI: 549300IHYHCQP2PIR591 | Long             | EC               | CORP              | US        |      9900 | NS      | $1052766.00   | 2.17%             |  |  |  | No            |                  1 | On Loan: No      |
| IAC/InterActiveCorp.                                         | IAC/InterActiveCorp.                           | CUSIP: 44891N208<br>LEI: 15OMOPB0A8K0EFUVD031 | Long             | EC               | CORP              | US        |      6000 | NS      | $266400.00    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Insight Enterprises, Inc.                                    | Insight Enterprises, Inc.                      | CUSIP: 45765U103<br>LEI: 529900S8991TYW6YP792 | Long             | EC               | CORP              | US        |      7000 | NS      | $701890.00    | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Jabil Circuit, Inc.                                          | Jabil, Inc.                                    | CUSIP: 466313103<br>LEI: 5493000CGCQY2OQU7669 | Long             | EC               | CORP              | US        |     15000 | NS      | $1023000.00   | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Kadant Inc.                                                  | Kadant Inc.                                    | CUSIP: 48282T104<br>LEI: 549300K06LNJYBMPYP15 | Long             | EC               | CORP              | US        |      3500 | NS      | $621705.00    | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Kforce Inc.                                                  | Kforce Inc.                                    | CUSIP: 493732101<br>LEI: 5493003RDQQDVXY2SK46 | Long             | EC               | CORP              | US        |     41900 | NS      | $2297377.00   | 4.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Kulicke & Soffa Industries Inc.                              | Kulicke & Soffa Industries Inc. (Singapore)    | CUSIP: 501242101<br>LEI: 529900H6BEIRBF429744 | Long             | EC               | CORP              | US        |     53600 | NS      | $2372336.00   | 4.89%             |  |  |  | No            |                  1 | On Loan: No      |
| MaxLinear, Inc.                                              | MaxLinear, Inc.                                | CUSIP: 57776J100<br>LEI: 549300EMOI0SM2IY4F64 | Long             | EC               | CORP              | US        |     20000 | NS      | $679000.00    | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Mid-America Apartment Communities Inc.                       | Mid-America Apartment Communities Inc.         | CUSIP: 59522J103<br>LEI: 549300FQZKFR5YNSHZ21 | Long             | EC               | CORP              | US        |     10950 | NS      | $1719040.50   | 3.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Modine Manufacturing Company                                 | Modine Manufacturing Company                   | CUSIP: 607828100<br>LEI: Z35SZFYJR8GZZRSIUU09 | Long             | EC               | CORP              | US        |     60000 | NS      | $1191600.00   | 2.46%             |  |  |  | No            |                  1 | On Loan: No      |
| National Bank Holdings Corporation                           | National Bank Holdings Corporation - Class A   | CUSIP: 633707104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17000 | NS      | $715190.00    | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Omnicell, Inc.                                               | Omnicell, Inc.                                 | CUSIP: 68213N109<br>LEI: 5493008RH0GTKHHPZI77 | Long             | EC               | CORP              | US        |      6000 | NS      | $302520.00    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Onto Innovation Inc.                                         | Onto Innovation Inc.                           | CUSIP: 683344105<br>LEI: 549300V1USTYXJ7TNR79 | Long             | EC               | CORP              | US        |     10000 | NS      | $680900.00    | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| PerkinElmer, Inc.                                            | PerkinElmer, Inc.                              | CUSIP: 714046109<br>LEI: 549300IKL1SDPFI7N655 | Long             | EC               | CORP              | US        |     12500 | NS      | $1752750.00   | 3.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Primoris Services Corporation                                | Primoris Services Corporation                  | CUSIP: 74164F103<br>LEI: 549300UF3OLBJ8D5K349 | Long             | EC               | CORP              | US        |     23000 | NS      | $504620.00    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Qorvo, Inc.                                                  | Qorvo, Inc.                                    | CUSIP: 74736K101<br>LEI: 254900YAUJV2EUEVBR11 | Long             | EC               | CORP              | US        |     11700 | NS      | $1060488.00   | 2.19%             |  |  |  | No            |                  1 | On Loan: No      |
| R1 RCM Inc.                                                  | R1 RCM Inc.                                    | CUSIP: 749397105<br>LEI: 549300VKOMJ3EM506212 | Long             | EC               | CORP              | US        |     30000 | NS      | $328500.00    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| RadNet, Inc.                                                 | RadNet, Inc.                                   | CUSIP: 750491102<br>LEI: 529900RECG94V2IZJ970 | Long             | EC               | CORP              | US        |     33300 | NS      | $627039.00    | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Renasant Corporation                                         | Renasant Corporation                           | CUSIP: 75970E107<br>LEI: 549300OVE6OZHW2UUH81 | Long             | EC               | CORP              | US        |     28000 | NS      | $1052520.00   | 2.17%             |  |  |  | No            |                  1 | On Loan: No      |
| SEI Daily Income Trust - SDIT Short Duration Government Fund | SEI Daily Income Trust Government Fund Class F | CUSIP: 783965593<br>LEI: 549300NRAJ39MCMGSN10 | Long             | STIV             | RF                | US        |    650797 | NS      | $650796.87    | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Sensient Technologies Corporation                            | Sensient Technologies Corporation              | CUSIP: 81725T100<br>LEI: CMMZHMFZQG86EI7WZU92 | Long             | EC               | CORP              | US        |     21700 | NS      | $1582364.00   | 3.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Summit Materials, Inc.                                       | Summit Materials, Inc. - Class A               | CUSIP: 86614U100<br>LEI: 549300C97P3BW8QROE16 | Long             | EC               | CORP              | US        |     79326 | NS      | $2252065.14   | 4.64%             |  |  |  | No            |                  1 | On Loan: No      |
| TD SYNNEX Corporation                                        | TD SYNNEX Corporation                          | CUSIP: 87162W100<br>LEI: 5493004HI6PFLF46NS53 | Long             | EC               | CORP              | US        |     10832 | NS      | $1025898.72   | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| The Ensign Group, Inc.                                       | The Ensign Group, Inc.                         | CUSIP: 29358P101<br>LEI: 5493003K4HEEA8Q0BC72 | Long             | EC               | CORP              | US        |     10000 | NS      | $946100.00    | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Veeco Instruments Inc.                                       | Veeco Instruments Inc.                         | CUSIP: 922417100<br>LEI: 5493004201F72ADDZW04 | Long             | EC               | CORP              | US        |     20000 | NS      | $371600.00    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| j2 Global, Inc.                                              | Ziff Davis Inc.                                | CUSIP: 48123V102<br>LEI: 5493008OJYGLHD7MXA18 | Long             | EC               | CORP              | US        |      7200 | NS      | $569520.00    | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-02-20

**Name of Applicant:** Paradigm Funds

**Signature:** /s/ Robert A. Benton

**Name of Signer:** Robert A. Benton

**Title:** Chief Financial Officer