# EDGAR Filing Document

**Accession Number:** 0001196878
**File Stem:** 0001413042-25-000977
**Filing Date:** 2025-11
**Character Count:** 38589
**Document Hash:** 580d9a584736ae31f3766d241d2be74c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001413042-25-000977.hdr.sgml**: 20251125

**ACCESSION NUMBER**: 0001413042-25-000977

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251125

**DATE AS OF CHANGE**: 20251125

**PERIOD START**: 20251231

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21233
- **FILM NUMBER:** 251516236

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

## Series and Classes Contracts Data

### Paradigm Select Fund (Series ID: S000005316)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000014507 | Paradigm Select Fund | PFSLX           |

## Nport-Ex

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Paradigm Select Fund** | **Paradigm Select Fund** | **Paradigm Select Fund** | **Paradigm Select Fund** | **Paradigm Select Fund** |
|  |  | **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
|  |  | **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** |
| **Shares** |  |  | **Fair Value** | **% of Net Assets** |
| **COMMON STOCKS** | **COMMON STOCKS** |  |  |  |
| **Communications Equipment, NEC** | **Communications Equipment, NEC** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;24600 | Lumentum Holdings Inc. \* |  | $4002666 | 3.56% |
| **Electrical Work** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16700 | EMCOR Group Inc. |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10847318 | 9.64% |
| **Electromedical & Electrotherapeutic Apparatus** | **Electromedical & Electrotherapeutic Apparatus** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12200 | Integer Holdings Corporation \* |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1260626 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10200 | Masimo Corporation \* |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1505010 |  |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2765636 | 2.46% |
| **Fire, Marine & Casualty Insurance** | **Fire, Marine & Casualty Insurance** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6450 | American Financial Group, Inc. |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;939894 | 0.83% |
| **General Industrial Machinery & Equipment** | **General Industrial Machinery & Equipment** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;102300 | Zurn Elkay Water Solutions Corp. |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4811169 | 4.27% |
| **In Vitro & In Vivo Diagnostic Substances** | **In Vitro & In Vivo Diagnostic Substances** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62390 | QuidelOrtho Corporation \* |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1837386 | 1.63% |
| **Industrial Organic Chemicals** | **Industrial Organic Chemicals** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27100 | Sensient Technologies Corporation |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2543335 | 2.26% |
| **Instruments For Measurement & Testing of Electricity & Electric Signals** | **Instruments For Measurement & Testing of Electricity & Electric Signals** | **Instruments For Measurement & Testing of Electricity & Electric Signals** | **Instruments For Measurement & Testing of Electricity & Electric Signals** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;33650 | Teradyne, Inc. |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4631586 | 4.11% |
| **Laboratory Analytical Instruments** | **Laboratory Analytical Instruments** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;25000 | Revvity, Inc. |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2191250 | 1.95% |
| **Measuring & Controlling Devices, NEC** | **Measuring & Controlling Devices, NEC** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12000 | Onto Innovation Inc. \* |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1550640 | 1.38% |
| **Miscellaneous Manufacturing Industries** | **Miscellaneous Manufacturing Industries** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16600 | Hillenbrand, Inc. |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;448864 | 0.40% |
| **Motors & Generators** | **Motors & Generators** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12200 | Regal Rexnord Corp. |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1749968 | 1.55% |
| **Orthopedic, Prosthetic & Surgical Appliances & Supplies** | **Orthopedic, Prosthetic & Surgical Appliances & Supplies** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | Enovis Corporation \* |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1213600 | 1.08% |
| **Printed Circuit Boards** | **Printed Circuit Boards** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13400 | Jabil, Inc. |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2910078 | 2.58% |
| **Retail - Catalog & Mail-Order Houses** | **Retail - Catalog & Mail-Order Houses** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | Insight Enterprises, Inc. \* |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1134100 | 1.01% |
| **Retail - Lumber & Other Building Materials Dealers** | **Retail - Lumber & Other Building Materials Dealers** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42700 | Builders FirstSource, Inc. \* |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5177375 | 4.60% |
| **Retail - Radio, TV & Consumer Electronics Stores** | **Retail - Radio, TV & Consumer Electronics Stores** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;41900 | Best Buy Co., Inc. |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3168478 | 2.81% |
| **Search, Detection, Navigation, Guidance, Aeronautical Systems** | **Search, Detection, Navigation, Guidance, Aeronautical Systems** | **Search, Detection, Navigation, Guidance, Aeronautical Systems** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;19075 | Garmin Ltd. (Switzerland) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4696647 | 4.17% |
| **Semiconductors & Related Devices** | **Semiconductors & Related Devices** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80175 | Kulicke & Soffa Industries Inc. (Singapore) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3258312 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;69400 | Marvell Technology, Inc. |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5834458 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12800 | Qorvo, Inc. \* |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1165824 |  |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10258594 | 9.12% |
| **Services - Business Services, NEC** | **Services - Business Services, NEC** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;20000 | Concentrix Corporation |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;923000 | 0.82% |
| **Services - Help Supply Services** | **Services - Help Supply Services** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77625 | Kelly Services, Inc. - Class A |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1018440 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;68325 | Kforce Inc. |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2048383 |  |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3066823 | 2.73% |
| **Services - Medical Laboratories** | **Services - Medical Laboratories** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;59400 | Natera, Inc. \* |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9561618 | 8.49% |
| **Services - Prepackaged Software** | **Services - Prepackaged Software** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;32100 | Progress Software Corporation \* |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1410153 | 1.25% |
| **Services - Services, NEC** | **Services - Services, NEC** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;80000 | Enviri Corporation \* |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1015200 | 0.90% |
| **Services - Skilled Nursing Care Facilities** | **Services - Skilled Nursing Care Facilities** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | The Ensign Group, Inc. |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1727700 | 1.53% |
| **Special Industry Machinery, NEC** | **Special Industry Machinery, NEC** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12000 | Axcelis Technologies, Inc. \* |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1171680 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;40000 | Veeco Instruments, Inc. \* |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1217200 |  |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2388880 | 2.13% |
| **Steel Pipe & Tubes** | **Steel Pipe & Tubes** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;18000 | ATI, Inc. \* |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1464120 | 1.30% |
| **Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens)** | **Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens)** | **Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;15600 | Carpenter Technology Corporation |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3830424 | 3.40% |
| **Surgical & Medical Instruments & Apparatus** | **Surgical & Medical Instruments & Apparatus** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;86200 | Globus Medical, Inc. - Class A \* |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4936674 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;110000 | Integra Lifesciences Holdings Company \* |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1576300 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | Orthofix Medical Inc. |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1464000 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;100000 | Tactile Systems Technology \* |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1384000 |  |
|  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9360974 | 8.32% |
| **Title Insurance** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5900 | Fidelity National Financial, Inc. |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;356891 | 0.32% |
| **Wholesale - Computers & Peripheral Equipment & Software** | **Wholesale - Computers & Peripheral Equipment & Software** | **Wholesale - Computers & Peripheral Equipment & Software** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10000 | TD SYNNEX Corporation |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1637500 | 1.45% |
| **Wholesale - Lumber & Other Construction Materials** | **Wholesale - Lumber & Other Construction Materials** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;42000 | Boise Cascade Company |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3247440 | 2.88% |
| **Wholesale - Medical, Dental & Hospital Equipment & Supplies** | **Wholesale - Medical, Dental & Hospital Equipment & Supplies** | **Wholesale - Medical, Dental & Hospital Equipment & Supplies** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;120000 | Owens & Minor, Inc. \* |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;576000 | 0.51% |
| **Wood Household Furniture, (No Upholstered)** | **Wood Household Furniture, (No Upholstered)** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;60000 | MasterBrand, Inc. \* |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;790200 | 0.70% |
| **Total for Common Stocks (Cost $60,320,855)** | **Total for Common Stocks (Cost $60,320,855)** |  | &nbsp;&nbsp;&nbsp;&nbsp;108235507 | 96.14% |
| **REAL ESTATE INVESTMENT TRUSTS** | **REAL ESTATE INVESTMENT TRUSTS** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10350 | Mid-America Apartment Communities, Inc. |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1446206 | 1.29% |
| **Total for Real Estate Investment Trusts (Cost $1,225,246)** | **Total for Real Estate Investment Trusts (Cost $1,225,246)** | **Total for Real Estate Investment Trusts (Cost $1,225,246)** |  |  |
| **MONEY MARKET FUNDS** | **MONEY MARKET FUNDS** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2982919 | Goldman Sachs Financial Square Government Fund | Goldman Sachs Financial Square Government Fund |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Institutional Class - 3.99% \*\* |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2982919 | 2.65% |
| **Total for Money Market Funds (Cost $2,982,919)** | **Total for Money Market Funds (Cost $2,982,919)** |  |  |  |
| **Total Investment Securities** | **Total Investment Securities** |  | &nbsp;&nbsp;&nbsp;&nbsp;112664632 | 100.08% |
|  | **(Cost $64,529,020)** |  |  |  |
| **Liabilities in Excess of Other Assets** | **Liabilities in Excess of Other Assets** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(85566) | -0.08% |
| **Net Assets** |  |  | $112579065 | 100.00% |
| \* Non-Income Producing Securities. | \* Non-Income Producing Securities. |  |  |  |
| \*\* The rate shown represents the 7-day yield at September 30, 2025. | \*\* The rate shown represents the 7-day yield at September 30, 2025. | \*\* The rate shown represents the 7-day yield at September 30, 2025. |  |  |

---

## 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 Select Fund

- **b. EDGAR series identifier (if any):** S000005316

- **c. LEI of Series:** 549300MOWYRO1YRYAC56

**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:** $112771627.78

**Total Liabilities:** $192562.59

**Net Assets:** $112579065.19

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000014507 | -0.84%               | 6.42%                | 2.36%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $1911867.62              | $-2359222.59                               |
| Month 2  | $2292485.17              | $4357302.91                                |
| Month 3  | $1860036.37              | $723024.48                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ATI, Inc.                                                                                | ATI, Inc.                                                          | CUSIP: 01741R102<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | EC               | CORP              | US        |     18000 | NS      | $1464120.00   | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| American Financial Group Inc.                                                            | American Financial Group, Inc.                                     | CUSIP: 025932104<br>LEI: 549300AFOM7IVKIU1G39 | Long             | EC               | CORP              | US        |      6450 | NS      | $939894.00    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Axcelis Technologies, Inc.                                                               | Axcelis Technologies, Inc.                                         | CUSIP: 054540208<br>LEI: 529900HF9B6NL1QG9F05 | Long             | EC               | CORP              | US        |     12000 | NS      | $1171680.00   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Best Buy Co., Inc.                                                                       | Best Buy Co., Inc.                                                 | CUSIP: 086516101<br>LEI: HL5XPTVRV0O8TUN5LL90 | Long             | EC               | CORP              | US        |     41900 | NS      | $3168478.00   | 2.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Boise Cascade Company                                                                    | Boise Cascade Company                                              | CUSIP: 09739D100<br>LEI: 549300Z8B8LSRHC7XA55 | Long             | EC               | CORP              | US        |     42000 | NS      | $3247440.00   | 2.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Builders FirstSource, Inc.                                                               | Builders FirstSource, Inc.                                         | CUSIP: 12008R107<br>LEI: 549300W0SKP6L3H7DP63 | Long             | EC               | CORP              | US        |     42700 | NS      | $5177375.00   | 4.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Carpenter Technology Corporation                                                         | Carpenter Technology Corporation                                   | CUSIP: 144285103<br>LEI: DX6I6ZD3X5WNNCDJKP85 | Long             | EC               | CORP              | US        |     15600 | NS      | $3830424.00   | 3.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Concentrix Corporation                                                                   | Concentrix Corporation                                             | CUSIP: 20602D101<br>LEI: 5493000EAJN1KMPVA737 | Long             | EC               | CORP              | US        |     20000 | NS      | $923000.00    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| EMCOR Group, Inc.                                                                        | EMCOR Group, Inc.                                                  | CUSIP: 29084Q100<br>LEI: 529900X0SQJB2J7YDU43 | Long             | EC               | CORP              | US        |     16700 | NS      | $10847318.00  | 9.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Enovis Corporation                                                                       | Enovis Corporation                                                 | CUSIP: 194014502<br>LEI: 635400OP2DYYYMOIYL17 | Long             | EC               | CORP              | US        |     40000 | NS      | $1213600.00   | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Enviri Corporation                                                                       | Enviri Corporation                                                 | CUSIP: 415864107<br>LEI: KAO98FK89NPNNPQGUZ43 | Long             | EC               | CORP              | US        |     80000 | NS      | $1015200.00   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity National Financial, Inc.                                                        | Fidelity National Financial, Inc                                   | CUSIP: 31620R303<br>LEI: 549300CAZYIH39SYQ287 | Long             | EC               | CORP              | US        |      5900 | NS      | $356891.00    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Garmin Ltd.                                                                              | Garmin Ltd. (Switzerland)                                          | CUSIP: H2906T109<br>LEI: 2549001E0HIPIJQ0W046 | Long             | EC               | CORP              | CH        |     19075 | NS      | $4696646.50   | 4.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Globus Medical, Inc.                                                                     | Globus Medical, Inc. - Class A                                     | CUSIP: 379577208<br>LEI: 5299003M2P4CIK0RF205 | Long             | EC               | CORP              | US        |     86200 | NS      | $4936674.00   | 4.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Trust - Goldman Sachs Financial Square Government Fund Institutional Class | Goldman Sachs Financial Square Government Fund Institutional Class | CUSIP: 38141W273<br>LEI: 549300BRJMXN4GUWZ402 | Long             | STIV             | RF                | US        |   2982919 | NS      | $2982919.20   | 2.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Hillenbrand, Inc.                                                                        | Hillenbrand, Inc.                                                  | CUSIP: 431571108<br>LEI: U246OE781574J2BUD366 | Long             | EC               | CORP              | US        |     16600 | NS      | $448864.00    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Insight Enterprises, Inc.                                                                | Insight Enterprises, Inc.                                          | CUSIP: 45765U103<br>LEI: 529900S8991TYW6YP792 | Long             | EC               | CORP              | US        |     10000 | NS      | $1134100.00   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Integer Holdings Corporation                                                             | Integer Holdings Corporation                                       | CUSIP: 45826H109<br>LEI: 549300SUD2ED5XG6X569 | Long             | EC               | CORP              | US        |     12200 | NS      | $1260626.00   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Integra Lifesciences Holdings Corporation                                                | Integra Lifesciences Holdings Corporation                          | CUSIP: 457985208<br>LEI: WB7IJCYY8YFTENS4O147 | Long             | EC               | CORP              | US        |    110000 | NS      | $1576300.00   | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Jabil, Inc.                                                                              | Jabil, Inc.                                                        | CUSIP: 466313103<br>LEI: 5493000CGCQY2OQU7669 | Long             | EC               | CORP              | US        |     13400 | NS      | $2910078.00   | 2.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Kelly Services, Inc.                                                                     | Kelly Services, Inc. - Class A                                     | CUSIP: 488152208<br>LEI: 25490035B2ZPL6RM1974 | Long             | EC               | CORP              | US        |     77625 | NS      | $1018440.00   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Kforce Inc.                                                                              | Kforce, Inc.                                                       | CUSIP: 493732101<br>LEI: 5493003RDQQDVXY2SK46 | Long             | EC               | CORP              | US        |     68325 | NS      | $2048383.50   | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Kulicke & Soffa Industries Inc.                                                          | Kulicke & Soffa Industries Inc. (Singapore)                        | CUSIP: 501242101<br>LEI: 529900H6BEIRBF429744 | Long             | EC               | CORP              | US        |     80175 | NS      | $3258312.00   | 2.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Lumentum Holdings Inc.                                                                   | Lumentum Holdings Inc.                                             | CUSIP: 55024U109<br>LEI: 549300JLWRRC38DWEF52 | Long             | EC               | CORP              | US        |     24600 | NS      | $4002666.00   | 3.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Marvell Technology Group Ltd.                                                            | Marvell Technology, Inc.                                           | CUSIP: 573874104<br>LEI: 8DF36O58U3QIHUCGZB18 | Long             | EC               | CORP              | US        |     69400 | NS      | $5834458.00   | 5.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Masimo Corporation                                                                       | Masimo Corporation                                                 | CUSIP: 574795100<br>LEI: 549300Q4A8JK0PIYCU29 | Long             | EC               | CORP              | US        |     10200 | NS      | $1505010.00   | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| MasterBrand, Inc.                                                                        | MasterBrand, Inc.                                                  | CUSIP: 57638P104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     60000 | NS      | $790200.00    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Mid-America Apartment Communities, Inc.                                                  | Mid-America Apartment Communities, Inc.                            | CUSIP: 59522J103<br>LEI: 549300FQZKFR5YNSHZ21 | Long             | EC               | CORP              | US        |     10350 | NS      | $1446205.50   | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Natera, Inc.                                                                             | Natera, Inc.                                                       | CUSIP: 632307104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     59400 | NS      | $9561618.00   | 8.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Onto Innovation Inc.                                                                     | Onto Innovation Inc.                                               | CUSIP: 683344105<br>LEI: 549300V1USTYXJ7TNR79 | Long             | EC               | CORP              | US        |     12000 | NS      | $1550640.00   | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Orthofix Medical Inc.                                                                    | Orthofix Medical Inc.                                              | CUSIP: 68752M108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    100000 | NS      | $1464000.00   | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Owens & Minor, Inc.                                                                      | Owens & Minor, Inc.                                                | CUSIP: 690732102<br>LEI: 549300LMT5KQQXCEZ733 | Long             | EC               | CORP              | US        |    120000 | NS      | $576000.00    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Progress Software Corporation                                                            | Progress Software Corporation                                      | CUSIP: 743312100<br>LEI: 549300R65B3JG6972S24 | Long             | EC               | CORP              | US        |     32100 | NS      | $1410153.00   | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Qorvo, Inc.                                                                              | Qorvo, Inc.                                                        | CUSIP: 74736K101<br>LEI: 254900YAUJV2EUEVBR11 | Long             | EC               | CORP              | US        |     12800 | NS      | $1165824.00   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| QuidelOrtho Corp                                                                         | QuidelOrtho Corporation                                            | CUSIP: 74838J101<br>LEI: 549300YU8CMO9HF53113 | Long             | EC               | CORP              | US        |     62390 | NS      | $1837385.50   | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Regal-Beloit Corporation                                                                 | Regal Rexnord Corp.                                                | CUSIP: 758750103<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | EC               | CORP              | US        |     12200 | NS      | $1749968.00   | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Revvity, Inc.                                                                            | Revvity, Inc.                                                      | CUSIP: 714046109<br>LEI: 549300IKL1SDPFI7N655 | Long             | EC               | CORP              | US        |     25000 | NS      | $2191250.00   | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Sensient Technologies Corporation                                                        | Sensient Technologies Corporation                                  | CUSIP: 81725T100<br>LEI: CMMZHMFZQG86EI7WZU92 | Long             | EC               | CORP              | US        |     27100 | NS      | $2543335.00   | 2.26%             |  |  |  | No            |                  1 | On Loan: No      |
| TD SYNNEX Corporation                                                                    | TD SYNNEX Corporation                                              | CUSIP: 87162W100<br>LEI: 5493004HI6PFLF46NS53 | Long             | EC               | CORP              | US        |     10000 | NS      | $1637500.00   | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Tactile Systems Technology, Inc.                                                         | Tactile Systems Technology, Inc.                                   | CUSIP: 87357P100<br>LEI: 54930069VDTITHOTKJ98 | Long             | EC               | CORP              | US        |    100000 | NS      | $1384000.00   | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Teradyne, Inc.                                                                           | Teradyne, Inc.                                                     | CUSIP: 880770102<br>LEI: C3X4YJ278QNZHRJULN75 | Long             | EC               | CORP              | US        |     33650 | NS      | $4631586.00   | 4.11%             |  |  |  | No            |                  1 | On Loan: No      |
| The Ensign Group, Inc.                                                                   | The Ensign Group, Inc.                                             | CUSIP: 29358P101<br>LEI: 5493003K4HEEA8Q0BC72 | Long             | EC               | CORP              | US        |     10000 | NS      | $1727700.00   | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Veeco Instruments Inc.                                                                   | Veeco Instruments, Inc.                                            | CUSIP: 922417100<br>LEI: 5493004201F72ADDZW04 | Long             | EC               | CORP              | US        |     40000 | NS      | $1217200.00   | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Zurn Water Solutions Corporation                                                         | Zurn Elkay Water Solutions Corp.                                   | CUSIP: 98983L108<br>LEI: 549300AM3633XDFU1Q85 | Long             | EC               | CORP              | US        |    102300 | NS      | $4811169.00   | 4.27%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

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

**Name of Applicant:** Paradigm Funds

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

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

**Title:** Chief Financial Officer