# EDGAR Filing Document

**Accession Number:** 0001196878
**File Stem:** 0001413042-23-000125
**Filing Date:** 2023-2
**Character Count:** 24858
**Document Hash:** bb7b7cc31421004c756d0f2eb5b99a2d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001413042-23-000125.hdr.sgml**: 20230221

**ACCESSION NUMBER**: 0001413042-23-000125

**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:** 23645878

**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           |

## 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 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:** 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:** $113497051.85

**Total Liabilities:** $167353.53

**Net Assets:** $113329698.32

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000057148 | 11.62%               | 7.11%                | -4.73%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1450936.13             | $13317413.12                               |
| Month 2  | $-414621.15              | $8192482.73                                |
| Month 3  | $-951484.52              | $-4534052.11                               |

### 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        |    200000 | NS      | $3326000.00   | 2.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Absolute Software Corporation                                | Absolute Software Corp. (Canada)                            | CUSIP: 00386B109<br>LEI: 549300I8AXWGBEESC731 | Long             | EC               | CORP              | CA        |     70395 | NS      | $734923.80    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Addus HomeCare Corporation                                   | Addus HomeCare Corporation                                  | CUSIP: 006739106<br>LEI: 52990090ZT33AKPDBX62 | Long             | EC               | CORP              | US        |     19700 | NS      | $1959953.00   | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| American Eagle Outfitters, Inc.                              | American Eagle Outfitters, Inc.                             | CUSIP: 02553E106<br>LEI: 5299001Z9HXK01DHW793 | Long             | EC               | CORP              | US        |     13300 | NS      | $185668.00    | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| AngioDynamics, Inc.                                          | AngioDynamics, Inc.                                         | CUSIP: 03475V101<br>LEI: 549300W3VKC5ZKMO8C28 | Long             | EC               | CORP              | US        |    110000 | NS      | $1514700.00   | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| AtriCure, Inc.                                               | AtriCure, Inc.                                              | CUSIP: 04963C209<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     53700 | NS      | $2383206.00   | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Aviat Networks, Inc.                                         | Aviat Networks, Inc.                                        | CUSIP: 05366Y201<br>LEI: 549300Z3X8Z4MK52CI65 | Long             | EC               | CORP              | US        |     50000 | NS      | $1559500.00   | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Axcelis Technologies, Inc.                                   | Axcelis Technologies, Inc.                                  | CUSIP: 054540208<br>LEI: 529900HF9B6NL1QG9F05 | Long             | EC               | CORP              | US        |     50000 | NS      | $3968000.00   | 3.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Brooks Automation, Inc.                                      | Azenta, Inc.                                                | CUSIP: 114340102<br>LEI: 35ZN6X1ANPH25YN32Y17 | Long             | EC               | CORP              | US        |      9800 | NS      | $570556.00    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| CalAmp Corp.                                                 | CalAmp Corp.                                                | CUSIP: 128126109<br>LEI: 5493007SIGZIX83TOW07 | Long             | EC               | CORP              | US        |    300000 | NS      | $1344000.00   | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Caleres, Inc.                                                | Caleres, Inc.                                               | CUSIP: 129500104<br>LEI: JFU6RQQJ8Z1CPOLBXQ18 | Long             | EC               | CORP              | US        |    160000 | NS      | $3564800.00   | 3.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Calix, Inc.                                                  | Calix, Inc.                                                 | CUSIP: 13100M509<br>LEI: 5299002RQRZ4SXSCSJ58 | Long             | EC               | CORP              | US        |     60000 | NS      | $4105800.00   | 3.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Citi Trends, Inc.                                            | Citi Trends, Inc.                                           | CUSIP: 17306X102<br>LEI: 529900D06Q0FPHV34S87 | Long             | EC               | CORP              | US        |     60000 | NS      | $1588800.00   | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Cohu, Inc.                                                   | Cohu, Inc.                                                  | CUSIP: 192576106<br>LEI: 529900FJPORJ3JJ2XS33 | Long             | EC               | CORP              | US        |     32650 | NS      | $1046432.50   | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Computer Programs and Systems, Inc.                          | Computer Programs & Systems, Inc.                           | CUSIP: 205306103<br>LEI: 5493005Q6CJC78TGL805 | Long             | EC               | CORP              | US        |     80000 | NS      | $2177600.00   | 1.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Cross Country Healthcare, Inc.                               | Cross Country Healthcare, Inc.                              | CUSIP: 227483104<br>LEI: 54930037L0NBIPZ5S663 | Long             | EC               | CORP              | US        |     55000 | NS      | $1461350.00   | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Cutera, Inc.                                                 | Cutera, Inc.                                                | CUSIP: 232109108<br>LEI: 529900NPKPEWJWR21Z42 | Long             | EC               | CORP              | US        |    100000 | NS      | $4422000.00   | 3.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Ducommun Incorporated                                        | Ducommun Incorporated                                       | CUSIP: 264147109<br>LEI: 549300Z71HMWF90S2214 | Long             | EC               | CORP              | US        |     60000 | NS      | $2997600.00   | 2.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Eton Pharmaceuticals, Inc.                                   | Eton Pharmaceuticals                                        | CUSIP: 29772L108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    300000 | NS      | $846000.00    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Extreme Networks, Inc.                                       | Extreme Networks, Inc.                                      | CUSIP: 30226D106<br>LEI: 549300WRECW11X94UB57 | Long             | EC               | CORP              | US        |    320000 | NS      | $5859200.00   | 5.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Pacira BioSciences, Inc.                                     | Flexion Therapeutics Contingent Value Right Exp. 12/31/2030 | CUSIP: N/A<br>LEI: 549300P56LERYBDHCF69       | Long             | EC               | CORP              | US        |    300000 | NS      | $186000.00    | 0.16%             |  |  |  | No            |                  3 | On Loan: No      |
| Fossil Group, Inc.                                           | Fossil Group, Inc.                                          | CUSIP: 34988V106<br>LEI: DDMY8YZ6L8UEMS1FDM73 | Long             | EC               | CORP              | US        |     34900 | NS      | $150419.00    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Harsco Corporation                                           | Harsco Corporation                                          | CUSIP: 415864107<br>LEI: KAO98FK89NPNNPQGUZ43 | Long             | EC               | CORP              | US        |    200000 | NS      | $1258000.00   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Hillenbrand, Inc.                                            | Hillenbrand, Inc.                                           | CUSIP: 431571108<br>LEI: U246OE781574J2BUD366 | Long             | EC               | CORP              | US        |      5200 | NS      | $221884.00    | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Hooker Furnishings Corporation                               | Hooker Furnishings Corporation                              | CUSIP: 439038100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     70000 | NS      | $1309000.00   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Infinera Corporation                                         | Infinera Corporation                                        | CUSIP: 45667G103<br>LEI: 549300ZOF66WPV3H0H17 | Long             | EC               | CORP              | US        |    700000 | NS      | $4718000.00   | 4.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Insight Enterprises, Inc.                                    | Insight Enterprises, Inc.                                   | CUSIP: 45765U103<br>LEI: 529900S8991TYW6YP792 | Long             | EC               | CORP              | US        |     40000 | NS      | $4010800.00   | 3.54%             |  |  |  | No            |                  1 | On Loan: No      |
| J.Jill, Inc.                                                 | J.Jill, Inc.                                                | CUSIP: 46620W102<br>LEI: 529900I19PJIF8MIDL12 | Long             | EC               | CORP              | US        |     40000 | NS      | $992000.00    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Kadant Inc.                                                  | Kadant Inc.                                                 | CUSIP: 48282T104<br>LEI: 549300K06LNJYBMPYP15 | Long             | EC               | CORP              | US        |     15100 | NS      | $2682213.00   | 2.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Kelly Services, Inc.                                         | Kelly Services, Inc. - Class A                              | CUSIP: 488152208<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    130500 | NS      | $2205450.00   | 1.95%             |  |  |  | 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      | $1491562.00   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Lantronix Inc                                                | Lantronix, Inc.                                             | CUSIP: 516548203<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     40000 | NS      | $172800.00    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Lulu's Fashion Lounge Holdings, Inc.                         | Lulu's Fashion Lounge Holdings, Inc.                        | CUSIP: 55003A108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     62555 | NS      | $157013.05    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| MaxLinear, Inc.                                              | MaxLinear, Inc.                                             | CUSIP: 57776J100<br>LEI: 549300EMOI0SM2IY4F64 | Long             | EC               | CORP              | US        |    120000 | NS      | $4074000.00   | 3.59%             |  |  |  | No            |                  1 | On Loan: No      |
| MiMedx Group, Inc.                                           | MiMedx Group, Inc.                                          | CUSIP: 602496101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    400000 | NS      | $1112000.00   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Modine Manufacturing Company                                 | Modine Manufacturing Company                                | CUSIP: 607828100<br>LEI: Z35SZFYJR8GZZRSIUU09 | Long             | EC               | CORP              | US        |    250000 | NS      | $4965000.00   | 4.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Nature's Sunshine Products, Inc.                             | Nature's Sunshine Products, Inc.                            | CUSIP: 639027101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     40000 | NS      | $332800.00    | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| NextGen Healthcare, Inc.                                     | NextGen Healthcare, Inc.                                    | CUSIP: 65343C102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    100000 | NS      | $1878000.00   | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Ocular Therapeutix, Inc.                                     | Ocular Therapeutix Inc.                                     | CUSIP: 67576A100<br>LEI: 529900ABAWFXOHSIHG03 | Long             | EC               | CORP              | US        |     40000 | NS      | $112400.00    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Omnicell, Inc.                                               | Omnicell, Inc.                                              | CUSIP: 68213N109<br>LEI: 5493008RH0GTKHHPZI77 | Long             | EC               | CORP              | US        |     20000 | NS      | $1008400.00   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Onto Innovation Inc.                                         | Onto Innovation Inc.                                        | CUSIP: 683344105<br>LEI: 549300V1USTYXJ7TNR79 | Long             | EC               | CORP              | US        |     50000 | NS      | $3404500.00   | 3.00%             |  |  |  | No            |                  1 | On Loan: No      |
| OrthoPediatrics Corp.                                        | OrthoPediatrics Corp.                                       | CUSIP: 68752L100<br>LEI: 5493000KUTPFGOPAT717 | Long             | EC               | CORP              | US        |     19600 | NS      | $778708.00    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| The Pennant Group, Inc.                                      | Pennant Group, Inc.                                         | CUSIP: 70805E109<br>LEI: 5493007H2OYR6BYLDA64 | Long             | EC               | CORP              | US        |    100000 | NS      | $1098000.00   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Pitney Bowes Inc.                                            | Pitney Bowes Inc.                                           | CUSIP: 724479100<br>LEI: 549300N2O26NW4ST6W55 | Long             | EC               | CORP              | US        |    100000 | NS      | $380000.00    | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Progress Software Corporation                                | Progress Software Corporation                               | CUSIP: 743312100<br>LEI: 549300R65B3JG6972S24 | Long             | EC               | CORP              | US        |     10900 | NS      | $549905.00    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| R1 RCM Inc.                                                  | R1 RCM Inc.                                                 | CUSIP: 749397105<br>LEI: 549300VKOMJ3EM506212 | Long             | EC               | CORP              | US        |    160000 | NS      | $1752000.00   | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Ribbon Communications Inc.                                   | Ribbon Communications Inc.                                  | CUSIP: 762544104<br>LEI: 549300L1E8Z8RL7CUL52 | Long             | EC               | CORP              | US        |    640000 | NS      | $1785600.00   | 1.58%             |  |  |  | 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: LTKY0J47NCTZPKTU4C46 | Long             | STIV             | RF                | US        |   3284532 | NS      | $3284532.16   | 2.90%             |  |  |  | No            |                  1 | On Loan: No      |
| SI-BONE, Inc.                                                | SI-BONE, Inc.                                               | CUSIP: 825704109<br>LEI: 549300J8JGYVJJHV9C31 | Long             | EC               | CORP              | US        |     80000 | NS      | $1088000.00   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| ScanSource, Inc.                                             | ScanSource, Inc.                                            | CUSIP: 806037107<br>LEI: 7FHBAN017QDY4K2KP156 | Long             | EC               | CORP              | US        |     80000 | NS      | $2337600.00   | 2.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Sensient Technologies Corporation                            | Sensient Technologies Corporation                           | CUSIP: 81725T100<br>LEI: CMMZHMFZQG86EI7WZU92 | Long             | EC               | CORP              | US        |      5950 | NS      | $433874.00    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Summit Materials, Inc.                                       | Summit Materials, Inc. Class A                              | CUSIP: 86614U100<br>LEI: 549300XNOLX5GIOSO108 | Long             | EC               | CORP              | US        |    101700 | NS      | $2887263.00   | 2.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Tabula Rasa HealthCare, Inc.                                 | Tabula Rasa HealthCare, Inc.                                | CUSIP: 873379101<br>LEI: 549300K6KY242XRMEF28 | Long             | EC               | CORP              | US        |    138100 | NS      | $683595.00    | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Tactile Systems Technology, Inc.                             | Tactile Systems Technology, Inc.                            | CUSIP: 87357P100<br>LEI: 54930069VDTITHOTKJ98 | Long             | EC               | CORP              | US        |     50000 | NS      | $574000.00    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| The Ensign Group, Inc.                                       | The Ensign Group, Inc.                                      | CUSIP: 29358P101<br>LEI: 5493003K4HEEA8Q0BC72 | Long             | EC               | CORP              | US        |     40000 | NS      | $3784400.00   | 3.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Ultra Clean Holdings, Inc.                                   | Ultra Clean Holdings, Inc.                                  | CUSIP: 90385V107<br>LEI: 5493007L6LS7QX18PE75 | Long             | EC               | CORP              | US        |    120000 | NS      | $3978000.00   | 3.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Veeco Instruments Inc.                                       | Veeco Instruments Inc.                                      | CUSIP: 922417100<br>LEI: 5493004201F72ADDZW04 | Long             | EC               | CORP              | US        |    200000 | NS      | $3716000.00   | 3.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Viemed Healthcare, Inc.                                      | Viemed Healthcare, Inc.                                     | CUSIP: 92663R105<br>LEI: 254900XU539S8GOIOW89 | Long             | EC               | CORP              | CA        |    300000 | NS      | $2268000.00   | 2.00%             |  |  |  | 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