13F filer · CIK 1037792 ↗

Paradigm Capital Management Inc

You are looking at Q1 2025. See the latest, Q2 2026 →

Reported value

$1.80B

−17% on the quarter before

Positions

127

7 new · 8 sold out

Top 10

50.7%

of the value

Est. gain

−$319.9M

on stocks held all quarter

Est. return

−15.7%

on those stocks since Q4 2024

Filed

May 15, 2025

On SEC EDGAR ↗

Positions as of Mar 31, 2025, from Paradigm Capital Management Inc's 13F filing with the SEC. A 13F lists a manager's US-listed stocks and options at a quarter end and is filed up to 45 days later, so the fund may hold something else today. It leaves out short positions, cash and holdings outside the US.

Portfolio at a glance

New
Added
Cut
Same
Options

Each tile is a position, sized by its share, colored by what the fund did with it since Q4 2024. Striped tiles are options.

103 others22%

Broadcom7.5%Onto Innovation7.4%Modine7.0%

Fabrinet5.8%

Insight Enterprises5.0%

Jabil4.3%Globus Medical3.9%

Extreme Networks3.8%

Ducommun Inc3.3%

Veeco Instruments2.7%

Entegris2.6%

Ensign Group, Inc.2.5%

Enersys2.5%

Concentrix Corp2.3%

Orthofix Medical Inc.2.2%

Ribbon Communications Inc2.1%

Calix Inc2.0%

Mimedx2.0%

Integra Lifesciences Holdings Corp1.7%

Enovis Corporation1.7%

Enviri Corp1.7%

Pennant Group Inc.1.3%

American Woodmark Corporation1.2%

Tactile Systems Technology1.1%

103 others22%

Broadcom7.5%Onto Innovation7.4%Modine7.0%

Fabrinet5.8%

Insight Enterprises5.0%

Jabil4.3%Globus Medical3.9%

Extreme Networks3.8%

Ducommun Inc3.3%

Veeco Instruments2.7%

Entegris2.6%

Ensign Group, Inc.2.5%

Enersys2.5%

Concentrix Corp2.3%

Orthofix Medical Inc.2.2%

Ribbon Communications Inc2.1%

Calix Inc2.0%

Mimedx2.0%

Integra Lifesciences Holdings Corp1.7%

Enovis Corporation1.7%

Enviri Corp1.7%

Pennant Group Inc.1.3%

American Woodmark Corporation1.2%

Tactile Systems Technology1.1%

Largest buys

Since Q4 2024, by estimated size: the change in shares at the quarter-end price, since a 13F gives no trade prices. Percentages are the position's share of the portfolio, before and after.

Quidel Corp~$14.0MAdded · 0.1% → 0.9%+399,500 shares
Penguin Solutions Inc~$13.4MAdded · 0.3% → 1.1%+769,200 shares
Enovis Corporation~$9.7MAdded · 1.1% → 1.7%+253,200 shares
Veeco Instruments~$8.0MAdded · 2.5% → 2.7%+397,200 shares
FormFactor~$7.3MAdded · 0.1% → 0.5%+257,600 shares
Semtech~$6.6MNew · 0.0% → 0.4%+191,600 shares
Orthopediatrics Corp~$4.0MAdded · 0.0% → 0.2%+160,700 shares
American Woodmark Corporation~$3.3MAdded · 1.1% → 1.2%+55,711 shares
Revvity Inc.~$2.6MAdded · 0.1% → 0.2%+25,000 shares
Ultra Clean Holdings Inc~$2.1MAdded · 1.1% → 0.9%+100,000 shares

Largest sells

Since Q4 2024, by estimated size: the change in shares at the quarter-end price, since a 13F gives no trade prices. Percentages are the position's share of the portfolio, before and after.

Summit Materials, Inc. Class A~$42.9MSold out · 2.0% → 0.0%−847,890 shares
Adtran Inc~$20.4MCut · 0.9% → 0.0%−2,339,600 shares
Smurfit Westrock L~$12.6MCut · 0.9% → 0.2%−280,700 shares
Kratos Defense~$7.5MCut · 0.7% → 0.5%−252,300 shares
Ducommun Inc~$3.9MCut · 3.2% → 3.3%−66,900 shares
Angiodynamics, Inc.~$3.7MSold out · 0.2% → 0.0%−404,001 shares
Ocular Therapeutix Inc.~$3.4MSold out · 0.2% → 0.0%−400,000 shares
Eton Pharmaceuticals, Inc.~$2.7MSold out · 0.1% → 0.0%−200,000 shares
Ribbon Communications Inc~$2.5MCut · 2.0% → 2.1%−627,421 shares
Citi Trends, Inc.~$2.1MCut · 0.2% → 0.1%−92,972 shares

Holdings

As of Mar 31, 2025. Changes are in shares against Dec 31, 2024, so a price move alone never reads as a buy or a sale.

Positions, sorted by share of the portfolio
#	Holding		% prev	Value	Shares		Price	Prev price
1	BroadcomCOM · shares 0% · price −27.8%	7.5%	8.7%	$135.5M	809,000	0%	$167.43	$231.84	−27.8%	−$52.1M
2	Onto InnovationCOM · shares 0% · price −27.2%	7.4%	8.5%	$134.1M	1.1M	0%	$121.34	$166.67	−27.2%	−$50.1M
3	ModineCOM · shares −0.05% · price −33.8%	7.0%	8.9%	$126.4M	1.6M	−0.05%	$76.75	$115.93	−33.8%	−$64.5M
4	FabrinetCOM · shares −0.08% · price −10.2%	5.8%	5.4%	$105.0M	531,500	−0.08%	$197.51	$219.88	−10.2%	−$11.9M
5	Insight EnterprisesCOM · shares 0% · price −1.4%	5.0%	4.2%	$89.4M	596,150	0%	$149.99	$152.10	−1.4%	−$1.3M
6	JabilCOM · shares −0.3% · price −5.4%	4.3%	3.8%	$77.7M	570,900	−0.3%	$136.07	$143.90	−5.4%	−$4.5M
7	Globus MedicalCOM · shares 0% · price −11.5%	3.9%	3.6%	$69.5M	949,300	0%	$73.20	$82.71	−11.5%	−$9.0M
8	Extreme NetworksCOM · shares +0.7% · price −21.0%	3.8%	4.0%	$69.1M	5.2M	+0.7%	$13.23	$16.74	−21.0%	−$18.2M
9	Ducommun IncCOM · shares −6.2% · price −8.8%	3.3%	3.2%	$59.0M	1.0M	−6.2%	$58.03	$63.66	−8.8%	−$5.7M
10	Veeco InstrumentsCOM · shares +20% · price −25.1%	2.7%	2.5%	$47.8M	2.4M	+20%	$20.08	$26.80	−25.1%	−$13.3M
11	EntegrisCOM · shares 0% · price −11.7%	2.6%	2.5%	$46.9M	535,700	0%	$87.48	$99.06	−11.7%	−$6.2M
12	Ensign Group, Inc.COM · shares +0.2% · price −2.6%	2.5%	2.1%	$44.9M	346,600	+0.2%	$129.40	$132.86	−2.6%	−$1.2M
13	EnersysCOM · shares +1.1% · price −0.9%	2.5%	2.0%	$44.3M	483,300	+1.1%	$91.58	$92.43	−0.9%	−$406,276
14	Concentrix CorpCOM · shares −0.3% · price +28.6%	2.3%	1.5%	$41.6M	748,142	−0.3%	$55.64	$43.27	+28.6%	+$9.3M
15	Orthofix Medical Inc.COM · shares −0.2% · price −6.6%	2.2%	2.0%	$40.5M	2.5M	−0.2%	$16.31	$17.46	−6.6%	−$2.9M
16	Ribbon Communications IncCOM · shares −6.2% · price −5.8%	2.1%	2.0%	$37.3M	9.5M	−6.2%	$3.92	$4.16	−5.8%	−$2.3M
17	Calix IncCOM · shares −2.8% · price +1.6%	2.0%	1.7%	$36.4M	1.0M	−2.8%	$35.44	$34.87	+1.6%	+$585,561
18	MimedxCOM · shares −0.06% · price −21.0%	2.0%	2.1%	$35.6M	4.7M	−0.06%	$7.60	$9.62	−21.0%	−$9.5M
19	Integra Lifesciences Holdings CorpCOM · shares −3.2% · price −3.0%	1.7%	1.5%	$30.5M	1.4M	−3.2%	$21.99	$22.68	−3.0%	−$955,788
20	Enovis CorporationCOM · shares +47% · price −12.9%	1.7%	1.1%	$30.0M	786,400	+47%	$38.21	$43.88	−12.9%	−$3.0M
21	Enviri CorpCOM · shares −0.1% · price −13.6%	1.7%	1.6%	$29.7M	4.5M	−0.1%	$6.65	$7.70	−13.6%	−$4.7M
22	Pennant Group Inc.COM · shares +1.7% · price −5.2%	1.3%	1.2%	$24.0M	955,000	+1.7%	$25.15	$26.52	−5.2%	−$1.3M
23	American Woodmark CorporationCOM · shares +18% · price −26.0%	1.2%	1.1%	$21.0M	356,900	+18%	$58.83	$79.53	−26.0%	−$6.2M
24	Tactile Systems TechnologyCOM · shares −8.0% · price −22.8%	1.1%	1.3%	$20.2M	1.5M	−8.0%	$13.22	$17.13	−22.8%	−$6.0M
25	CerenceCOM · shares −2.0% · price +0.6%	1.1%	0.94%	$20.1M	2.5M	−2.0%	$7.90	$7.85	+0.6%	+$127,110
	Total · 127 positions	100%		$1.80B						−$319.9M

The filing on SEC EDGAR ↗

Price is a stock's reported value over its shares at the quarter end. The estimated gain is the shares held at both quarter ends times the change in that price: shares bought or sold during the quarter add nothing, options are left out, and a stock split is read into the earlier share count and price.

What made money

From Q4 2024 to Q1 2025: 120 stocks held throughout, down $319.9M (−15.7%).

Concentrix Corp+$9.3M+29%
Xerox Corp25:1 split+$5.6M+1,332%
Cohu Inc.2:1 split+$1.3M+10%
Kratos Defense+$1.0M+13%
Johnson & Johnson+$609,014+15%
Veeco Instruments−$13.3M−25%
Extreme Networks−$18.2M−21%
Onto Innovation−$50.1M−27%
Broadcom−$52.1M−28%
Modine−$64.5M−34%

Estimated as in the holdings table: shares held at both quarter ends times the change in price; options left out, 2 splits read into the share counts.

Reported value by quarter

The total value of each quarter's 13F at that quarter end. It moves with prices as well as with buying and selling. Pick a quarter to see what the fund held then.

$4.00B$2.00B$0

Q1 201642 quartersQ2 2026

Every quarter's filing

Each quarter's 13F filing, newest first
Quarter	Filed	Reported value	Positions	Filing
Q2 2026	Aug 13, 2026	$3.67B+41%	115	SEC ↗
Q1 2026	May 14, 2026	$2.61B+10%	112	SEC ↗
Q4 2025	Feb 12, 2026	$2.38B+3%	116	SEC ↗
Q3 2025	Nov 14, 2025	$2.31B+12%	126	SEC ↗
Q2 2025	Aug 14, 2025	$2.05B+14%	122	SEC ↗
Q1 2025	May 15, 2025	$1.80B−17%	127	SEC ↗
Q4 2024	Feb 18, 2025	$2.16B−4%	128	SEC ↗
Q3 2024	Nov 14, 2024	$2.25B+3%	129	SEC ↗
Q2 2024	Aug 14, 2024	$2.19B+5%	129	SEC ↗
Q1 2024	May 15, 2024	$2.09B+9%	131	SEC ↗
Q4 2023	Feb 13, 2024	$1.92B+10%	131	SEC ↗
Q3 2023	Nov 13, 2023	$1.74B−0%	138	SEC ↗
Q2 2023	Aug 14, 2023	$1.75B+16%	139	SEC ↗
Q1 2023	May 12, 2023	$1.51B−0%	141	SEC ↗
Q4 2022	Feb 3, 2023	$1.51B+9%	144	SEC ↗
Q3 2022	Oct 26, 2022	$1.39B−6%	145	SEC ↗
Q2 2022	Aug 2, 2022	$1.47B−20%	148	SEC ↗
Q1 2022	May 25, 2022	$1.85B−17%	153	SEC ↗
Q4 2021	Feb 9, 2022	$2.24B+15%	156	SEC ↗
Q3 2021	Nov 8, 2021	$1.94B−7%	151	SEC ↗
Q2 2021	Aug 5, 2021	$2.08B+8%	152	SEC ↗
Q1 2021	May 5, 2021	$1.93B+15%	149	SEC ↗
Q4 2020	Jan 20, 2021	$1.67B+41%	149	SEC ↗
Q3 2020	Oct 20, 2020	$1.19B+9%	149	SEC ↗
Q2 2020	Aug 3, 2020	$1.09B+32%	147	SEC ↗
Q1 2020	May 12, 2020	$827.9M−36%	153	SEC ↗
Q4 2019	Feb 5, 2020	$1.30B+16%	150	SEC ↗
Q3 2019	Nov 7, 2019	$1.12B+2%	156	SEC ↗
Q2 2019	Aug 8, 2019	$1.10B−4%	161	SEC ↗
Q1 2019	May 10, 2019	$1.14B+12%	162	SEC ↗
Q4 2018	Feb 8, 2019	$1.02B−20%	158	SEC ↗
Q3 2018	Nov 14, 2018	$1.27B+3%	170	SEC ↗
Q2 2018	Aug 8, 2018	$1.24B+5%	163	SEC ↗
Q1 2018	Apr 9, 2018	$1.18B+1%	155	SEC ↗
Q4 2017	Feb 7, 2018	$1.17B+2%	156	SEC ↗
Q3 2017	Nov 6, 2017	$1.15B+4%	163	SEC ↗
Q2 2017	Aug 10, 2017	$1.11B+5%	162	SEC ↗
Q1 2017	May 9, 2017	$1.06B+3%	168	SEC ↗
Q4 2016	Feb 13, 2017	$1.03B+8%	168	SEC ↗
Q3 2016	Nov 10, 2016	$953.0M+16%	174	SEC ↗
Q2 2016	Aug 9, 2016	$820.6M−4%	174	SEC ↗
Q1 2016	May 12, 2016	$858.8M	180	SEC ↗