# EDGAR Filing Document

**Accession Number:** 0000803020
**File Stem:** 0001213900-25-115193
**Filing Date:** 2025-11
**Character Count:** 66183
**Document Hash:** 005eeb029b9e8b8af9bc56277bb6918d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001213900-25-115193.hdr.sgml**: 20251126

**ACCESSION NUMBER**: 0001213900-25-115193

**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:** 251525829

**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 Micro-Cap Fund (Series ID: S000010231)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000028300 | Investor Class      | OBMCX           |
| C000182411 | Institutional Class | OMCIX           |

## 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 Micro-Cap Fund

- **b. EDGAR series identifier (if any):** S000010231

- **c. LEI of Series:** 549300306YSEQ2ZTQH15

**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:** $869485480.08

**Total Liabilities:** $974639.29

**Net Assets:** $868510840.79

**Cash Not Reported:** $19802742.22

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000028300 | 3.69%                | 8.23%                | 3.09%                |
| Class ID C000182411 | 3.71%                | 8.25%                | 3.11%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $277012.36               | $27287803.42                               |
| Month 2  | $1665975.55              | $61816213.79                               |
| Month 3  | $-1001802.26             | $27494027.19                               |

**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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Applied Optoelectronics Inc    | Applied Optoelectronics Inc               | CUSIP: 03823U102<br>LEI: 529900I8U6Q5SYDNLT48 | Long             | EC               | CORP              | US        |    945815 | NS      | $24524982.95  | 2.82%             |  |  |  | No            |                  1 | On Loan: No      |
| ADMA Biologics Inc             | ADMA Biologics Inc                        | CUSIP: 000899104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1253000 | NS      | $18368980.00  | 2.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Adaptive Biotechnologies Corp  | Adaptive Biotechnologies Corp             | CUSIP: 00650F109<br>LEI: 549300ZTF7OT1FW66Q96 | Long             | EC               | CORP              | US        |    726500 | NS      | $10868440.00  | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Argan Inc                      | Argan Inc                                 | CUSIP: 04010E109<br>LEI: 529900E4KZWBV9KGBS83 | Long             | EC               | CORP              | US        |     55800 | NS      | $15068790.00  | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Powerfleet Inc NJ              | Powerfleet Inc NJ                         | CUSIP: 73931J109<br>LEI: 2549007NKEFPYEH4MF81 | Long             | EC               | CORP              | US        |   1068800 | NS      | $5600512.00   | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Ambarella Inc                  | Ambarella Inc                             | CUSIP: G037AX101<br>LEI: 254900XN7F4DG0CEKC02 | Long             | EC               | CORP              | US        |    250300 | NS      | $20654756.00  | 2.38%             |  |  |  | No            |                  1 | On Loan: No      |
| American Superconductor Corp   | American Superconductor Corp              | CUSIP: 030111207<br>LEI: 549300S9YT8Z8LOK4452 | Long             | EC               | CORP              | US        |    634400 | NS      | $37677016.00  | 4.34%             |  |  |  | No            |                  1 | On Loan: No      |
| ANI Pharmaceuticals Inc        | ANI Pharmaceuticals Inc                   | CUSIP: 00182C103<br>LEI: 5493000T6CXTND40YH31 | Long             | EC               | CORP              | US        |    138900 | NS      | $12723240.00  | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Artivion Inc                   | Artivion Inc                              | CUSIP: 228903100<br>LEI: 549300YTKV8DMSMG6K81 | Long             | EC               | CORP              | US        |    211800 | NS      | $8967612.00   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Alpha & Omega Semiconductor Lt | Alpha & Omega Semiconductor Ltd           | CUSIP: G6331P104<br>LEI: 5493001FE7J03YOV2V35 | Long             | EC               | CORP              | US        |    271100 | NS      | $7579956.00   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphatec Holdings Inc          | Alphatec Holdings Inc                     | CUSIP: 02081G201<br>LEI: 549300EZE8CQ8K65FS24 | Long             | EC               | CORP              | US        |    461122 | NS      | $6704713.88   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| AtriCure Inc                   | AtriCure Inc                              | CUSIP: 04963C209<br>LEI: 254900B2I6GPHK2EXM59 | Long             | EC               | CORP              | US        |    153500 | NS      | $5410875.00   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| AvePoint Inc                   | AvePoint Inc                              | CUSIP: 053604104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    296300 | NS      | $4447463.00   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Axogen Inc                     | Axogen Inc                                | CUSIP: 05463X106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    328100 | NS      | $5853304.00   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Build-A-Bear Workshop Inc      | Build-A-Bear Workshop Inc                 | CUSIP: 120076104<br>LEI: 529900S9MWZC1UBF3D13 | Long             | EC               | CORP              | US        |     91600 | NS      | $5973236.00   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Blue Bird Corp                 | Blue Bird Corp                            | CUSIP: 095306106<br>LEI: 5493004ZXJUUWQ65ER59 | Long             | EC               | CORP              | US        |    373400 | NS      | $21489170.00  | 2.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Backblaze Inc                  | Backblaze Inc                             | CUSIP: 05637B105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    538700 | NS      | $4999136.00   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Boot Barn Holdings Inc         | Boot Barn Holdings Inc                    | CUSIP: 099406100<br>LEI: 529900QE1BFMYA3N4E71 | Long             | EC               | CORP              | US        |     42100 | NS      | $6976812.00   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Bioventus Inc                  | Bioventus Inc                             | CUSIP: 09075A108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    601714 | NS      | $4025466.66   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Camtek Ltd/Israel              | Camtek Ltd/Israel                         | CUSIP: M20791105<br>LEI: 5493000H80W07HCKGS43 | Long             | EC               | CORP              | IL        |    213580 | NS      | $22436579.00  | 2.58%             |  |  |  | No            |                  1 | On Loan: No      |
| CECO Environmental Corp        | CECO Environmental Corp                   | CUSIP: 125141101<br>LEI: 5493002CZCTL4HGLIY91 | Long             | EC               | CORP              | US        |     92008 | NS      | $4710809.60   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Cellebrite DI Ltd              | Cellebrite DI Ltd                         | CUSIP: M2197Q107<br>LEI: 254900G03462YGP1IO36 | Long             | EC               | CORP              | IL        |    378900 | NS      | $7021017.00   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Climb Global Solutions Inc     | Climb Global Solutions Inc                | CUSIP: 946760105<br>LEI: 549300LKM16VX2FG7J68 | Long             | EC               | CORP              | US        |     32500 | NS      | $4382300.00   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Vita Coco Co Inc/The           | Vita Coco Co Inc/The                      | CUSIP: 92846Q107<br>LEI: 54930020WXOAWHR85Y25 | Long             | EC               | CORP              | US        |    207400 | NS      | $8808278.00   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Coursera Inc                   | Coursera Inc                              | CUSIP: 22266M104<br>LEI: 984500573CA1QB7DAC30 | Long             | EC               | CORP              | US        |    561000 | NS      | $6569310.00   | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Catalyst Pharmaceuticals Inc   | Catalyst Pharmaceuticals Inc              | CUSIP: 14888U101<br>LEI: 5299004O0R5XXLA5H544 | Long             | EC               | CORP              | US        |    519600 | NS      | $10236120.00  | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| CRA International Inc          | CRA International Inc                     | CUSIP: 12618T105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     34900 | NS      | $7277697.00   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| CorMedix Inc                   | CorMedix Inc                              | CUSIP: 21900C308<br>LEI: 5299006YIA3L0MBW8358 | Long             | EC               | CORP              | US        |    785700 | NS      | $9137691.00   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Dave Inc                       | Dave Inc                                  | CUSIP: 23834J201<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     45622 | NS      | $9094745.70   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Ducommun Inc                   | Ducommun Inc                              | CUSIP: 264147109<br>LEI: 549300Z71HMWF90S2214 | Long             | EC               | CORP              | US        |     95700 | NS      | $9199641.00   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Diodes Inc                     | Diodes Inc                                | CUSIP: 254543101<br>LEI: 549300XP2X1ARVH3BX23 | Long             | EC               | CORP              | US        |    218700 | NS      | $11637027.00  | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Eton Pharmaceuticals Inc       | Eton Pharmaceuticals Inc                  | CUSIP: 29772L108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    192360 | NS      | $4179982.80   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Evolv Technologies Holdings In | Evolv Technologies Holdings Inc           | CUSIP: 30049H102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    948400 | NS      | $7160420.00   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| National Vision Holdings Inc   | National Vision Holdings Inc              | CUSIP: 63845R107<br>LEI: 549300JHURCBLI5ROA42 | Long             | EC               | CORP              | US        |    594900 | NS      | $17365131.00  | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| EZCORP Inc                     | EZCORP Inc                                | CUSIP: 302301106<br>LEI: 5493003K6PG3ZQ7TUQ63 | Long             | EC               | CORP              | US        |    685500 | NS      | $13051920.00  | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| FB Financial Corp              | FB Financial Corp                         | CUSIP: 30257X104<br>LEI: 5493000B2LD2C2A6C435 | Long             | EC               | CORP              | US        |    123500 | NS      | $6883890.00   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Green Dot Corp                 | Green Dot Corp                            | CUSIP: 39304D102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    970300 | NS      | $13031129.00  | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Gorman-Rupp Co/The             | Gorman-Rupp Co/The                        | CUSIP: 383082104<br>LEI: 254900WVLPOIWPGJPA07 | Long             | EC               | CORP              | US        |     90900 | NS      | $4218669.00   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Huron Consulting Group Inc     | Huron Consulting Group Inc                | CUSIP: 447462102<br>LEI: 549300NGVB9H6TKTLE36 | Long             | EC               | CORP              | US        |     40500 | NS      | $5944185.00   | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Hawkins Inc                    | Hawkins Inc                               | CUSIP: 420261109<br>LEI: 549300VL3IJ23OWX1Y34 | Long             | EC               | CORP              | US        |     45700 | NS      | $8350304.00   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| IBEX Holdings Ltd              | IBEX Holdings Ltd                         | CUSIP: G4690M101<br>LEI: 5493000GRFLPVYU2CX17 | Long             | EC               | CORP              | US        |    236000 | NS      | $9562720.00   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Insteel Industries Inc         | Insteel Industries Inc                    | CUSIP: 45774W108<br>LEI: 52990026LKY4MOX3L174 | Long             | EC               | CORP              | US        |    132732 | NS      | $5088944.88   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| IMAX Corp                      | IMAX Corp                                 | CUSIP: 45245E109<br>LEI: 894500GS1ESLAPZCEI74 | Long             | EC               | CORP              | CA        |    579600 | NS      | $18981900.00  | 2.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Kiniksa Pharmaceuticals Intern | Kiniksa Pharmaceuticals International Plc | CUSIP: G52694109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    305200 | NS      | $11850916.00  | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| nLight Inc                     | nLight Inc                                | CUSIP: 65487K100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    266000 | NS      | $7881580.00   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Lincoln Educational Services C | Lincoln Educational Services Corp         | CUSIP: 533535100<br>LEI: 549300BJ55KUY6RG7L98 | Long             | EC               | CORP              | US        |    301600 | NS      | $7087600.00   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Lindblad Expeditions Holdings  | Lindblad Expeditions Holdings Inc         | CUSIP: 535219109<br>LEI: 549300GSPW24GZE6R597 | Long             | EC               | CORP              | US        |    299400 | NS      | $3832320.00   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| LivaNova PLC                   | LivaNova PLC                              | CUSIP: G5509L101<br>LEI: 2138001K2FX6SHK2B339 | Long             | EC               | CORP              | GB        |    186000 | NS      | $9742680.00   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| LeMaitre Vascular Inc          | LeMaitre Vascular Inc                     | CUSIP: 525558201<br>LEI: 549300FZUBUB7MHY8R17 | Long             | EC               | CORP              | US        |    103400 | NS      | $9048534.00   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Limbach Holdings Inc           | Limbach Holdings Inc                      | CUSIP: 53263P105<br>LEI: 254900EW8KXT5ZTWQI30 | Long             | EC               | CORP              | US        |     83700 | NS      | $8128944.00   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Liquidia Corp                  | Liquidia Corp                             | CUSIP: 53635D202<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    321200 | NS      | $7304088.00   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| LSI Industries Inc             | LSI Industries Inc                        | CUSIP: 50216C108<br>LEI: 529900HY42OANH6BVT33 | Long             | EC               | CORP              | US        |    169200 | NS      | $3994812.00   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Malibu Boats Inc               | Malibu Boats Inc                          | CUSIP: 56117J100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    238200 | NS      | $7729590.00   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Pediatrix Medical Group Inc    | Pediatrix Medical Group Inc               | CUSIP: 58502B106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    545600 | NS      | $9138800.00   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Magnite Inc                    | Magnite Inc                               | CUSIP: 55955D100<br>LEI: 54930018FR2YX1HHSB02 | Long             | EC               | CORP              | US        |    514000 | NS      | $11194920.00  | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| M/I Homes Inc                  | M/I Homes Inc                             | CUSIP: 55305B101<br>LEI: 5299005M71FH9CCSFB69 | Long             | EC               | CORP              | US        |     73200 | NS      | $10573008.00  | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Matrix Service Co              | Matrix Service Co                         | CUSIP: 576853105<br>LEI: 529900VYBKSX6HD2YW58 | Long             | EC               | CORP              | US        |    221075 | NS      | $2891661.00   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Natural Grocers by Vitamin Cot | Natural Grocers by Vitamin Cottage Inc    | CUSIP: 63888U108<br>LEI: 529900P4OTXDGBUS3O87 | Long             | EC               | CORP              | US        |    205100 | NS      | $8204000.00   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Nicolet Bankshares Inc         | Nicolet Bankshares Inc                    | CUSIP: 65406EAA0<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     60200 | NS      | $8096900.00   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| NPK International Inc          | NPK International Inc                     | CUSIP: 651718504<br>LEI: 54930073OHWDQW4DJN26 | Long             | EC               | CORP              | US        |    496500 | NS      | $5615415.00   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| OneSpan Inc                    | OneSpan Inc                               | CUSIP: 68287N100<br>LEI: 984500E502E6DC354D26 | Long             | EC               | CORP              | US        |    621700 | NS      | $9878813.00   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| OneSpaWorld Holdings Ltd       | OneSpaWorld Holdings Ltd                  | CUSIP: P73684113<br>LEI: 5493007W8PZ8W6UC2X76 | Long             | EC               | CORP              | BS        |    465400 | NS      | $9838556.00   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Precision Drilling Corp        | Precision Drilling Corp                   | CUSIP: 74022D407<br>LEI: 549300WF2OE8T5BP4B84 | Long             | EC               | CORP              | CA        |     97100 | NS      | $5472556.00   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Pagaya Technologies Ltd        | Pagaya Technologies Ltd                   | CUSIP: M7S64L123<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    190000 | NS      | $5641100.00   | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Powell Industries Inc          | Powell Industries Inc                     | CUSIP: 739128106<br>LEI: 549300V08RO7MX2UBN26 | Long             | EC               | CORP              | US        |     47500 | NS      | $14478475.00  | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Primoris Services Corp         | Primoris Services Corp                    | CUSIP: 74164F103<br>LEI: 549300UF3OLBJ8D5K349 | Long             | EC               | CORP              | US        |    192400 | NS      | $26422292.00  | 3.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Red Violet Inc                 | Red Violet Inc                            | CUSIP: 75704L104<br>LEI: 549300T4EGADG881UU63 | Long             | EC               | CORP              | US        |    100300 | NS      | $5240675.00   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Radware Ltd                    | Radware Ltd                               | CUSIP: M81873107<br>LEI: 254900LYRZOTBQ99ZG59 | Long             | EC               | CORP              | IL        |    274700 | NS      | $7276803.00   | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| REV Group Inc                  | REV Group Inc                             | CUSIP: 749527107<br>LEI: 549300SRD0SIG5ZZ3X20 | Long             | EC               | CORP              | US        |    134500 | NS      | $7622115.00   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Rush Street Interactive Inc    | Rush Street Interactive Inc               | CUSIP: 782011100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1143100 | NS      | $23410688.00  | 2.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Silicon Motion Technology Corp | Silicon Motion Technology Corp            | CUSIP: 82706C108<br>LEI: 5299005RBVBZQJTYFC89 | Long             |  | CORP              | TW        |    230600 | NS      | $21863186.00  | 2.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Skyward Specialty Insurance Gr | Skyward Specialty Insurance Group Inc     | CUSIP: 830940102<br>LEI: 549300GXGXJG0YH4VN21 | Long             | EC               | CORP              | US        |    231800 | NS      | $11024408.00  | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| 1st Source Corp                | 1st Source Corp                           | CUSIP: 336901103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     82700 | NS      | $5091012.00   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Interface Inc                  | Interface Inc                             | CUSIP: 458665304<br>LEI: 549300VXZWQOIDFPU355 | Long             | EC               | CORP              | US        |    425300 | NS      | $12308182.00  | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Turning Point Brands Inc       | Turning Point Brands Inc                  | CUSIP: 90041L105<br>LEI: 549300IYG00QF0VVP302 | Long             | EC               | CORP              | US        |    101000 | NS      | $9984860.00   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Tutor Perini Corp              | Tutor Perini Corp                         | CUSIP: 901109108<br>LEI: 549300FHXYVPW8LJ6D98 | Long             | EC               | CORP              | US        |    377800 | NS      | $24779902.00  | 2.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Ultra Clean Holdings Inc       | Ultra Clean Holdings Inc                  | CUSIP: 90385V107<br>LEI: 5493007L6LS7QX18PE75 | Long             | EC               | CORP              | US        |    613300 | NS      | $16712425.00  | 1.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Veracyte Inc                   | Veracyte Inc                              | CUSIP: 92337F107<br>LEI: 529900ESWZRHXOW27Z37 | Long             | EC               | CORP              | US        |    238500 | NS      | $8187705.00   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| VSE Corp                       | VSE Corp                                  | CUSIP: 918284100<br>LEI: 549300QWJYQDH4U5XI15 | Long             | EC               | CORP              | US        |     44600 | NS      | $7414304.00   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Weave Communications Inc       | Weave Communications Inc                  | CUSIP: 94724R108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    896300 | NS      | $5987284.00   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| GeneDx Holdings Corp           | GeneDx Holdings Corp                      | CUSIP: 81663L200<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    187900 | NS      | $20244346.00  | 2.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Expro Group Holdings NV        | Expro Group Holdings NV                   | CUSIP: N3144W105<br>LEI: 724500LJYA8QIT73H017 | Long             | EC               | CORP              | US        |    435500 | NS      | $5173740.00   | 0.60%             |  |  |  | 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