Paradigm Micro-Cap Fund 

The Paradigm Micro-Cap Fund primarily allocates at least 80% of its net holdings to the common stock of micro-capitalization companies based in the United States. The fund's advisor defines a micro-cap entity as one whose market value at the time of acquisition falls within the range established by the Russell Microcap® Index during its most recent reconstitution. The portfolio may, at certain intervals, concentrate more heavily in particular industry sectors. Shares are typically divested when they have reached the valuation targets set by the advisor, or when more compelling investment opportunities offering greater potential returns are identified.