VC Visteon Corporation

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM N-Q

 

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT

INVESTMENT COMPANY

 

Investment Company Act File Number 811-04854

--------

 

The Oberweis Funds

------------------------

(Exact name of registrant as specified in charter)

 

3333 Warrenville Road, Suite 500

Lisle, Illinois 60532

(Address of principal executive offices) (Zip code)

 

 

James W. Oberweis

Oberweis Asset Management, Inc.

3333 Warrenville Road, Suite 500

Lisle, Illinois 60532

(Name and address of agent for service)

 

Registrant's telephone number, including area code: (630) 577-2300

 

 

Date of fiscal year end: December 31

 

Date of reporting period: March 31, 2013

  

 

  

OBERWEIS MICRO-CAP FUND

SCHEDULE OF INVESTMENTS

MARCH 31, 2013 (UNAUDITED)

 

						SHARES				VALUE
EQUITIES			94.7	%
ADVERTISING AGENCY			0.9	%
ACQUITY GROUP LTD. ADR*							29,500			$	187,325
AUTO PARTS			2.1	%
GENTHERM, INC.*							27,900				457,002
BACK OFFICE SUPPORT			5.7	%
BARRETT BUSINESS SERVICES, INC.							9,300				489,738
ON ASSIGNMENT, INC.*							28,900				731,459
											1,221,197
BANKS - DIVERSIFIED			5.8	%
ACCESS NATIONAL CORP.							3,800				62,320
BRYN MAWR BANK CORP.							12,300				286,344
CARDINAL FINANCIAL CORP.							17,300				314,514
EAGLE BANCORP, INC.*							14,800				323,972
FIRST SAVINGS FINANCIAL GROUP, INC.							5,000				108,562
THE BANCORP, INC.*							10,100				139,885
											1,235,597
BANKS-SAVINGS/THRIFTS & MORTGAGE LENDING			4.7	%
BOFI HLDG., INC.*							24,476				878,199
UNITED FINANCIAL BANCORP, INC.							8,800				133,760
											1,011,959
COMMERCIAL FINANCE & MORTGAGE COMPANIES			2.8	%
CONSUMER PORTFOLIO SERVICES, INC.*							51,800				606,578
COMMERCIAL SERVICES			2.0	%
NQ MOBILE, INC. ADR*							25,900				233,359
POINTS INTERNATIONAL LTD.*							12,500				199,125
											432,484
COMMUNICATIONS			1.4	%
DATALINK CORP.*							11,695				141,276
PROCERA NETWORKS, INC.*							13,400				159,326
											300,602
COMPUTER SERVICES SOFTWARE & SYSTEMS			17.1	%
CLICKSOFTWARE TECHNOLOGIES LTD.							32,800				263,712
DATAWATCH CORP.*							27,800				417,000
DIGIMARC CORP.							9,500				208,715
EGAIN COMMUNICATIONS CORP.*							23,400				202,644
ELLIE MAE, INC.*							27,100				651,755
MAGIC SOFTWARE ENTERPRISES LTD.							7,900				41,238
PERFICIENT, INC.*							16,800				195,888
SUPPORT.COM, INC.*							134,400				561,792
TANGOE, INC.*							26,200				324,618
VIRTUSA CORP.*							7,800				185,328
WEB.COM GROUP, INC.*							34,900				596,092
											3,648,782
COMPUTER TECHNOLOGY			3.7	%
21VIANET GROUP, INC. ADR*							18,400				172,960
ALLOT COMMUNICATIONS LTD.*							7,700				91,938
SILICOM LTD.*							9,700				273,540
STREAMLINE HEALTH SOLUTIONS, INC.*							40,900				263,805
											802,243
CONSUMER SERVICES - MISC.			1.9	%
STAMPS.COM, INC.*							16,400				409,508
EDUCATION SERVICES			1.4	%
HEALTHSTREAM, INC.*							13,500				309,690
ELECTRICAL SCIENTIFIC INSTRUMENTS			0.7	%
TASER INTERNATIONAL, INC.*							17,700				140,715
ELECTRONICS COMPONENTS			5.3	%
ACACIA RESEARCH CORP.*							37,300				1,125,341
ENGINEERING & CONTRACTING SERVICES			2.7	%
MISTRAS GROUP, INC.*							23,600				571,356
HEALTHCARE SERVICES			7.8	%
GREENWAY MEDICAL TECHNOLOGIES, INC.*							13,900				221,010
IPC THE HOSPITALIST CO., INC.*							2,680				119,206
MEDIDATA SOLUTIONS, INC.*							22,700				1,316,146
											1,656,362
INDUSTRIAL MACHINERY			1.0	%
MANITEX INTERNATIONAL, INC.*							16,600				206,006
INSURANCE - PROPERTY-CASUALTY			1.4	%
HOMEOWNERS CHOICE, INC.							11,000				299,750
LEISURE TIME			0.7	%
PREMIER EXHIBITIONS, INC.*							60,100				159,866
MEDICAL & DENTAL INSTRUMENTS & SUPPLIES			3.3	%
ENDOLOGIX, INC.*							34,300				553,945
VASCULAR SOLUTIONS, INC.*							9,800				158,956
											712,901
MEDICAL EQUIPMENT			0.5	%
CYNOSURE, INC.*							4,000				104,680
OIL CRUDE PRODUCER			2.6	%
CALLON PETROLEUM CO.*							53,000				196,100
PANHANDLE OIL & GAS, INC.							5,100				146,115
TRIANGLE PETROLEUM CORP.*							33,000				217,800
											560,015
OIL WELL EQUIPMENT & SERVICES			2.6	%
FLOTEK INDUSTRIES, INC.*							22,100				361,335
MITCHAM INDUSTRIES, INC.*							11,200				189,504
											550,839
PHARMACEUTICALS			0.9	%
LANNETT CO., INC.*							19,700				199,167
POLLUTION CONTROL			0.9	%
ADA-ES, INC.*							6,900				183,333
REAL ESTATE			2.2	%
MARKET LEADER, INC.*							52,100				466,816
RECREATIONAL VEHICLES & BOATS			0.9	%
ARCTIC CAT, INC.*							3,500				152,950
MARINE PRODUCTS CORP.							5,800				42,688
											195,638
RENTAL & LEASING SERVICES - CONSUMER			1.7	%
CAI INTERNATIONAL, INC.*							12,800				368,896
SEMICONDUCTORS & COMPONENTS			2.4	%
EMCORE CORP.*							23,000				133,860
INPHI CORP.*							22,300				233,035
MAXLINEAR, INC.*							23,900				148,180
											515,075
SPECIALTY RETAIL			4.1	%
FRANCESCA'S HLDGS. CORP.*							18,000				516,960
TILLY'S, INC.*							27,500				349,800
											866,760
TELECOMMUNICATIONS EQUIPMENT			0.6	%
CALAMP CORP.*							12,100				132,737
TEXTILES - APPAREL & SHOES			1.4	%
G-III APPAREL GROUP LTD.*							3,600				144,396
JOE'S JEANS, INC.*							89,800				152,660
											297,056
TRUCKERS			1.5	%
ROADRUNNER TRANSPORTATION SYSTEMS, INC.*							13,600				312,800
TOTAL EQUITIES										$	20,249,076
(COST: $13,854,075)
REAL ESTATE INVESTMENT TRUST			2.1	%
PENNYMAC MORTGAGE INVESTMENT TRUST							17,000			$	440,130
TOTAL REAL ESTATE INVESTMENT TRUST
(COST: $338,254)										$	440,130
CORPORATE BONDS			2.5	%			Face Amount				Value
HEALTHCARE FACILITIES
ADCARE HEALTH SYSTEMS, INC. (10.00%, 10/26/13) (a)							500,000			$	532,820
TOTAL CORPORATE BONDS
(COST: $500,000)										$	532,820
TOTAL INVESTMENTS			99.3	%
(COST: $14,692,329)										$	21,222,026
OTHER ASSETS LESS LIABILITIES			0.7	%							142,454
NET ASSETS - 100% (EQUIVALENT TO $13.89 PER SHARE BASED ON 1,537,575 SHARES OUTSTANDING)										$	21,364,480
Cost of Investments is $14,726,930 for federal income tax purposes and net unrealized appreciation consists of:
Gross unrealized appreciation										$	7,038,231
Gross unrealized depreciation											(543,135	)
Net unrealized appreciation										$	6,495,096

 

^(a) Certain securities were fair valued under the discretion of the Board of Trustees

 

* Non-income producing security during the period ended March 31, 2013

 

ADR - American depositary receipt

 

 

OBERWEIS EMERGING GROWTH FUND

SCHEDULE OF INVESTMENTS

MARCH 31, 2013 (UNAUDITED)

 

						SHARES				VALUE
EQUITIES			99.4	%
ADVERTISING AGENCY			2.5	%
VALUECLICK, INC.*							53,800			$	1,590,328
ASSET MANAGEMENT & CUSTODIAN			0.8	%
FINANCIAL ENGINES, INC.							13,000				470,860
AUTO PARTS			2.0	%
GENTHERM, INC.*							77,600				1,271,088
BACK OFFICE SUPPORT			8.9	%
EXLSERVICE HLDGS., INC.*							64,400				2,117,472
MAXIMUS, INC.							11,300				903,661
ON ASSIGNMENT, INC.*							54,082				1,368,816
RPX CORP.*							29,700				419,067
THE ADVISORY BOARD CO.*							15,100				793,052
											5,602,068
BANKS - DIVERSIFIED			0.5	%
THE BANCORP, INC.*							23,500				325,475
BANKS - SAVINGS/ THRIFTS & MORTGAGE LENDING			1.3	%
BERKSHIRE HILLS BANCORP, INC.							32,900				840,266
BIOTECHNOLOGY			0.8	%
PROTALIX BIOTHERAPEUTICS, INC.*							87,400				479,826
CASINOS & GAMBLING			2.1	%
MULTIMEDIA GAMES HLDG. CO., INC.*							62,862				1,311,930
COMMUNICATIONS			1.1	%
ARUBA NETWORKS, INC.*							13,400				331,516
PROCERA NETWORKS, INC.*							31,000				368,590
											700,106
COMPUTER SERVICES SOFTWARE & SYSTEMS			14.8	%
AVG TECHNOLOGIES N.V.*							46,200				643,104
DEALERTRACK HLDGS., INC.*							37,500				1,101,750
ELLIE MAE, INC.*							57,800				1,390,090
INTERACTIVE INTELLIGENCE, INC.*							26,500				1,175,275
PDF SOLUTIONS, INC.*							28,800				461,376
SOURCEFIRE, INC.*							17,000				1,006,910
TANGOE, INC.*							92,700				1,148,553
WEB.COM GROUP, INC.*							136,600				2,333,128
											9,260,186
COMPUTER TECHNOLOGY			3.4	%
21VIANET GROUP, INC. ADR*							126,400				1,188,160
STRATASYS, INC.*							13,000				964,860
											2,153,020
CONSUMER SERVICES - MISC.			1.3	%
51JOB, INC. ADR*							14,000				831,740
DIVERSIFIED METALS & MINERALS			0.3	%
U.S. SILICA HLDGS., INC.*							7,400				174,492
EDUCATION SERVICES			1.9	%
GRAND CANYON EDUCATION, INC.*							34,600				878,494
HEALTHSTREAM, INC.*							13,900				318,866
											1,197,360
ELECTRONICS			2.8	%
IPG PHOTONICS CORP.*							26,800				1,779,788
ELECTRONICS COMPONENTS			6.3	%
ACACIA RESEARCH CORP.*							109,200				3,294,564
INVENSENSE, INC.*							59,400				634,392
											3,928,956
ENGINEERING & CONTRACTING SERVICES			2.1	%
MISTRAS GROUP, INC.*							53,200				1,287,972
HEALTHCARE SERVICES			15.8	%
CATAMARAN CORP.*							35,700				1,893,171
GREENWAY MEDICAL TECHNOLOGIES, INC.*							39,300				624,870
HMS HLDGS. CORP.*							78,000				2,117,700
MEDIDATA SOLUTIONS, INC.*							68,800				3,989,024
OMNICELL, INC.*							67,500				1,274,400
											9,899,165
INDUSTRIAL MACHINERY			1.3	%
DXP ENTERPRISES, INC.*							6,300				470,610
PROTO LABS, INC.*							6,700				328,970
											799,580
MEDICAL & DENTAL INSTRUMENTS & SUPPLIES			1.2	%
ENDOLOGIX, INC.*							48,200				778,430
MEDICAL EQUIPMENT			1.5	%
CYBERONICS, INC.*							20,300				950,040
OIL CRUDE PRODUCER			7.0	%
BONANZA CREEK ENERGY, INC.*							23,900				924,213
ENERGY XXI (BERMUDA) LTD.							17,400				473,628
GULFPORT ENERGY CORP.*							51,800				2,373,994
NORTHERN OIL & GAS, INC.*							43,800				629,844
											4,401,679
PHOTOGRAPHY			2.0	%
IMAX CORP.*							46,600				1,245,618
REAL ESTATE			0.5	%
ZILLOW, INC.*							5,600				306,152
RECREATIONAL VEHICLES & BOATS			0.7	%
WINNEBAGO INDUSTRIES, INC.*							22,300				460,272
SEMICONDUCTORS & COMPONENTS			2.3	%
CIRRUS LOGIC, INC.*							32,400				737,100
SPREADTRUM COMMUNICATIONS, INC. ADR*							35,600				730,156
											1,467,256
SPECIALTY RETAIL			7.1	%
FRANCESCA'S HLDGS. CORP.*							93,700				2,691,064
RUE21, INC.*							31,100				914,029
ZUMIEZ, INC.*							37,800				865,620
											4,470,713
TELECOMMUNICATIONS EQUIPMENT			0.2	%
VOCERA COMMUNICATIONS, INC.*							4,300				98,900
TEXTILES - APPAREL & SHOES			3.0	%
G-III APPAREL GROUP LTD.*							10,100				405,111
OXFORD INDUSTRIES, INC.							16,700				886,770
STEVEN MADDEN LTD.*							13,800				596,546
											1,888,427
TRUCKERS			2.5	%
ROADRUNNER TRANSPORTATION SYSTEMS, INC.*							67,600				1,554,800
UTILITIES - TELECOMMUNICATIONS			1.4	%
8X8, INC.*							129,000				883,650
TOTAL EQUITIES
(COST: $47,037,235)										$	62,410,143
REAL ESTATE INVESTMENT TRUST			1.1	%
PENNYMAC MORTGAGE INVESTMENT TRUST							26,800			$	693,852
TOTAL REAL ESTATE INVESTMENT TRUST
(COST: $603,210)										$	693,852
TOTAL INVESTMENTS			100.5	%
(COST: $47,640,445)										$	63,103,995
OTHER LIABILITIES LESS ASSETS			(0.5	)%							(295,301	)
NET ASSETS - 100% (EQUIVALENT TO $22.07 PER SHARE BASED ON 2,846,143 SHARES OUTSTANDING)										$	62,808,694
Cost of Investments is $47,702,855 for federal income tax purposes and net unrealized appreciation consists of:
Gross unrealized appreciation										$	17,140,763
Gross unrealized depreciation											(1,739,623	)
Net unrealized appreciation										$	15,401,140

 

* Non-income producing security during the period ended March 31, 2013

 

ADR - American depositary receipt

 

 

OBERWEIS SMALL-CAP OPPORTUNITIES FUND

SCHEDULE OF INVESTMENTS

MARCH 31, 2013 (UNAUDITED)

 

						SHARES				VALUE
EQUITIES			98.0	%
AEROSPACE			2.3	%
HEICO CORP.*							1,800			$	78,138
TRIUMPH GROUP, INC.							1,200				94,200
											172,338
AGRICULTURAL - MACHINERY			1.5	%
LINDSAY CORP.							1,300				114,634
AUTO PARTS			0.8	%
TOWER INTERNATIONAL, INC.*							4,200				58,800
BACK OFFICE SUPPORT			1.7	%
EXLSERVICE HLDGS., INC.*							3,900				128,232
BANKS - SAVINGS/THRIFTS & MORTGAGE LENDING			4.9	%
BOFI HLDG., INC.*							7,100				254,748
TERRITORIAL BANCORP, INC.							4,800				114,144
											368,892
COMMERCIAL SERVICES			2.5	%
NQ MOBILE, INC. ADR*							21,400				192,814
COMMUNICATIONS			1.3	%
DIGITALGLOBE, INC.*							3,400				98,294
COMPUTER SERVICES SOFTWARE & SYSTEMS			12.6	%
AVG TECHNOLOGIES N.V.*							5,900				82,128
DATAWATCH CORP.*							11,900				178,500
ELLIE MAE, INC.*							6,400				153,920
FORTINET, INC.*							4,600				108,928
INFORMATICA CORP.*							2,700				93,069
SS&C TECHNOLOGIES HLDGS., INC.*							3,400				101,932
SYNCHRONOSS TECHNOLOGIES, INC.*							3,100				96,193
WEB.COM GROUP, INC.*							8,200				140,056
											954,726
COMPUTER TECHNOLOGY			1.3	%
21VIANET GROUP, INC. ADR*							10,300				96,820
CONSUMER LENDING			3.5	%
ENCORE CAPITAL GROUP, INC.*							3,200				96,320
FIRST CASH FINANCIAL SERVICES, INC.*							2,900				169,186
											265,506
CONSUMER SERVICES - MISC.			1.4	%
STAMPS.COM, INC.*							4,100				102,377
CONTAINERS & PACKAGING			1.6	%
CROWN HLDGS., INC.*							3,000				124,830
DIVERSIFIED CHEMICALS			2.2	%
CYTEC INDUSTRIES, INC.							700				51,856
OM GROUP, INC.*							4,800				112,704
											164,560
DIVERSIFIED MANUFACTURING			1.7	%
RAVEN INDUSTRIES, INC.*							3,800				127,718
DRUG & GROCERY STORE CHAINS			1.3	%
THE FRESH MARKET, INC.*							2,400				102,648
EDUCATION SERVICES			1.0	%
DEVRY, INC.*							2,500				79,375
ELECTRICAL SCIENTIFIC INSTRUMENTS			1.0	%
AZZ, INC.*							1,500				72,300
ELECTRONICS			2.6	%
IPG PHOTONICS CORP.*							3,000				199,230
ELECTRONICS COMPONENTS			7.1	%
ACACIA RESEARCH CORP.*							12,950				390,702
METHODE ELECTRONICS, INC.*							11,700				150,696
											541,398
ENGINEERING & CONTRACTING SERVICES			1.0	%
FURMANITE CORP.*							11,800				78,942
ENVIRONMENTAL MAINTENANCE & SECURITY SERVICES			2.1	%
G&K SERVICES, INC.							2,000				91,020
UNIFIRST CORP.*							800				72,400
											163,420
FINANCIAL DATA & SYSTEMS			1.4	%
CARDTRONICS, INC.*							1,900				52,174
FAIR ISAAC CORP.							1,200				54,828
											107,002
FOODS			2.9	%
ANNIE'S, INC.*							1,800				68,868
B&G FOODS, INC.							1,800				54,882
THE HAIN CELESTIAL GROUP, INC.*							1,600				97,728
											221,478
GAUGES & METERS			1.0	%
FARO TECHNOLOGIES, INC.*							1,800				78,102
HEALTHCARE FACILITIES			3.3	%
AMSURG CORP.*							3,100				104,284
UNIVERSAL HEALTH SERVICES, INC.							2,300				146,901
											251,185
HEALTHCARE SERVICES			9.5	%
CATAMARAN CORP.*							2,374				125,893
HMS HLDGS. CORP.*							6,900				187,335
MEDIDATA SOLUTIONS, INC.*							4,910				284,682
OMNICELL, INC.*							6,500				122,720
											720,630
LEISURE TIME			1.8	%
HOMEAWAY, INC.*							4,200				136,500
MEDICAL & DENTAL INSTRUMENTS & SUPPLIES			1.7	%
CANTEL MEDICAL CORP.*							2,600				78,156
THE COOPER COS., INC.							500				53,940
											132,096
OIL CRUDE PRODUCER			0.8	%
SANCHEZ ENERGY CORP.*							2,900				57,768
OIL WELL EQUIPMENT & SERVICES			1.1	%
HORNBECK OFFSHORE SERVICES, INC.*							1,800				83,628
PHOTOGRAPHY			1.5	%
IMAX CORP.*							4,300				114,939
PRODUCTION TECHNOLOGY EQUIPMENT			1.5	%
GSI GROUP, INC.*							13,100				111,743
RAILROAD EQUIPMENT			3.0	%
TRINITY INDUSTRIES, INC.							2,600				117,858
WABTEC CORP.							1,100				112,321
											230,179
RAILROADS			1.7	%
GENESEE & WYOMING, INC.*							1,400				130,354
RENTAL & LEASING			1.9	%
CAI INTERNATIONAL, INC.*							5,000				144,100
RESTAURANTS			0.9	%
DUNKIN' BRANDS GROUP, INC.							1,900				70,070
SPECIALTY RETAIL			4.3	%
BIG 5 SPORTING GOODS CORP.							6,300				98,343
FRANCESCA'S HLDGS. CORP.*							5,600				160,832
VITAMIN SHOPPE, INC.*							1,400				68,390
											327,565
TEXTILES - APPAREL & SHOES			3.3	%
COLUMBIA SPORTSWEAR CO.							1,300				75,244
STEVE MADDEN LTD.*							4,075				176,154
											251,398
TRUCKERS			1.0	%
UNIVERSAL TRUCKLOAD SERVICES, INC.*							3,300				76,989
TOTAL EQUITIES
(COST: $6,168,023)										$	7,453,580
TOTAL INVESTMENTS			98.0	%
(COST: $6,168,023)										$	7,453,580
OTHER ASSETS LESS LIABILITIES			2.0	%							154,314
NET ASSETS - 100% (EQUIVALENT TO $13.09 PER SHARE BASED ON 581,258 SHARES OUTSTANDING)										$	7,607,894
Cost of Investments is $6,178,997 for federal income tax purposes and net unrealized appreciation consists of:
Gross unrealized appreciation										$	1,428,849
Gross unrealized depreciation											(154,266	)
Net unrealized appreciation										$	1,274,583

 

* Non-income producing security during the period ended March 31, 2013

 

ADR - American depositary receipt

  

 

OBERWEIS CHINA OPPORTUNITIES FUND

SCHEDULE OF INVESTMENTS ^(a)

MARCH 31, 2013 (UNAUDITED)

 

						SHARES				VALUE
EQUITIES			96.2	%
AUTO COMPONENTS			1.7	%
TIANNENG POWER INTERNATIONAL LTD.*							1,800,000			$	1,206,686
XINYI GLASS HLDG. CO. LTD.*							1,500,000				1,062,924
											2,269,610
AUTOMOBILES			4.9	%
BRILLIANCE CHINA AUTOMOTIVE HLDGS. LTD.*							400,000				472,393
GEELY AUTOMOBILE HLDGS. LTD.*							4,200,000				2,048,546
GREAT WALL MOTOR CO. LTD.*							1,200,000				4,083,998
											6,604,937
CAPITAL MARKETS			2.0	%
HAITONG SECURITIES CO. LTD.*							1,200,000				1,653,699
NOAH HLDGS. LTD.							137,400				998,898
											2,652,597
CHEMICALS			2.7	%
CHINA SANJIANG FINE CHEMICALS CO. LTD.*							7,200,000				3,627,176
COMMERCIAL SERVICE & SUPPLY			3.1	%
CHINA EVERBRIGHT INTERNATIONAL LTD.*							5,700,000				4,106,003
COMMUNICATIONS EQUIPMENT			2.6	%
AAC ACOUSTIC TECHNOLOGIES HLDGS., INC.*							350,000				1,687,526
CHINA WIRELESS TECHNOLOGIES, INC.*							5,500,000				1,814,250
											3,501,776
CONSTRUCTION & ENGINEERING			4.8	%
CHINA MACHINERY ENGINEERING CORP.*							2,400,000				1,791,791
CHINA SINGYES SOLAR TECHNOLOGIES HLDGS. LTD.*							900,000				749,996
CHINA STATE CONSTRUCTION INTERNATIONAL HLDGS. LTD.*							2,800,000				3,842,651
											6,384,438
CONTAINERS & PACKAGING			1.5	%
CPMC HLDGS. LTD.*							2,500,000				1,995,787
DIVERSIFIED TELECOMMUNICATION SERVICES			1.9	%
CHINA COMMUNICATIONS SERVICES CORP. LTD.*							1,200,000				776,925
CITIC TELECOM INTERNATIONAL HLDGS. LTD.*							4,500,000				1,678,993
											2,455,918
ELECTRICAL EQUIPMENT			0.7	%
BOER POWER HLDGS. LTD.*							1,000,000				581,880
WASION GROUP HLDGS. LTD.*							500,000				287,159
											869,039
ELECTRONIC EQUIPMENT & INSTRUMENTS			7.3	%
FUJIKON INDUSTRIAL HLDGS. LTD.*							2,000,000				936,001
JU TENG INTERNATIONAL HLDGS. LTD.*							1,500,000				946,365
SUNNY OPTICAL TECHNOLOGY GROUP CO. LTD.*							5,200,000				6,014,171
TRULY INTERNATIONAL HLDGS. LTD.*							3,650,000				1,890,217
											9,786,754
ENERGY EQUIPMENT & SERVICES			9.3	%
ANTON OILFIELD SERVICES GROUP*							6,500,000				4,531,059
CHU KONG PETROLEUM & NATURAL GAS STEEL PIPE HLDGS. LTD.*							6,000,000				2,948,600
HONGHUA GROUP LTD.*							6,600,000				3,084,382
JUTAL OFFSHORE OIL SERVICES LTD.*							5,000,000				1,208,036
SPT ENERGY GROUP, INC.*							1,500,000				705,015
											12,477,092
FOOD PRODUCTS			5.9	%
BIOSTIME INTERNATIONAL HLDGS. LTD.*							500,000				2,611,425
CHINA MINZHONG FOOD CORP. LTD.*							2,000,000				1,948,565
CHINA MODERN DAIRY HLDGS. LTD.*							4,000,000				1,337,954
YASHILI INTERNATIONAL HLDGS. LTD.*							6,000,000				2,037,925
											7,935,869
FOOD & STAPLES RETAILING			0.0	%
FU JI FOOD & CATERING SERVICES HLDGS. LTD.*							1,325,000				-
GAS UTILITIES			0.9	%
CHINA GAS HLDGS. LTD.							1,200,000				1,198,516
HEALTHCARE EQUIPMENT & SUPPLIES			0.6	%
CHINA MEDICAL SYSTEM HLDGS. LTD.*							800,000				812,058
HOTELS RESTAURANTS & LEISURE			4.5	%
CHINA LODGING GROUP, LTD.*							130,000				2,139,800
GALAXY ENTERTAINMENT GROUP LTD.*							860,000				3,606,292
LOUIS XIII HLDGS. LTD.*							3,000,000				290,895
											6,036,987
HOUSEHOLD DURABLES			4.9	%
GOODBABY INTERNATIONAL HLDGS. LTD.*							2,700,000				1,589,927
MAN WAH HLDGS. LTD.*							1,200,000				1,149,203
TCL MULTIMEDIA TECHNOLOGY HLDGS. LTD.*							1,800,000				1,399,310
TECHTRONIC INDUSTRIES CO. LTD.*							1,000,000				2,447,144
											6,585,584
INDEPENDENT POWER PRODUCERS & ENERGY TRADERS			1.0	%
HUANENG RENEWABLES CORP. LTD.*							5,000,000				1,331,706
INFORMATION TECHNOLOGY SERVICES			1.1	%
51JOB, INC. ADR*							25,000				1,485,250
INSURANCE			1.3	%
CHINA TAIPING INSURANCE HLDGS. CO. LTD.*							1,000,000				1,709,105
INTERNET & CATOLOG RETAIL			1.7	%
VIPSHOP HLDGS. LTD.*							74,963				2,276,626
INTERNET SOFTWARE & SERVICES			8.5	%
21VIANET GROUP, INC. ADR*							250,000				2,350,000
BITAUTO HLDGS. LTD.*							21,310				212,034
CHANGYOU.COM LTD. ADR*							55,000				1,588,950
NETEASE.COM, INC. ADR							50,000				2,738,500
QIHOO 360 TECHNOLOGY CO. LTD.*							80,000				2,370,400
YY, INC.*							120,000				2,028,000
											11,287,884
MACHINERY			3.4	%
CIMC ENRIC HLDGS. LTD.*							3,000,000				3,241,040
SINGAMAS CONTAINER HLDGS. LTD.*							1,000,000				261,485
ZHENGZHOU COAL MINING MACHINERY GROUP CO. LTD.*							1,000,000				1,053,771
											4,556,296
OIL, GAS, & CONSUMABLE FUELS			1.0	%
KUNLUN ENERGY CO. LTD.*							650,000				1,384,823
PAPER & FOREST PRODUCTS			1.8	%
CHINA FORESTRY HLDGS. LTD.*							5,760,000				-
NINE DRAGONS PAPER HLDGS. LTD.							2,500,000				2,360,904
											2,360,904
PHARMACEUTICALS			4.4	%
SHANDONG LUOXIN PHARMACY STOCK CO. LTD.*							1,400,000				1,859,032
SHANGHAI FOSUN PHARMACEUTICAL (GROUP) CO. LTD.*							50,000				90,176
SINO BIOPHARMACEUTICAL LTD.*							2,800,000				1,958,694
TIANJIN ZHONGXIN PHARMACEUTICAL GROUP CORP. LTD.*							1,500,000				1,612,500
WINTEAM PHARMACEUTICAL GROUP LTD.*							800,000				365,609
											5,886,011
REAL ESTATE MANAGEMENT & DEVELOPMENT			1.5	%
CENTRAL CHINA REAL ESTATE LTD.*							3,000,000				963,968
CHINA OVERSEAS GRAND OCEAN GROUP LTD.*							800,000				1,059,047
											2,023,015
SEMICONDUCTOR & SEMICONDUCTOR EQUIPMENT			2.4	%
COMTEC SOLAR SYSTEMS GROUP LTD.*							4,500,000				746,135
SPREADTRUM COMMUNICATIONS, INC. ADR*							117,500				2,409,925
											3,156,060
SOFTWARE			6.2	%
GIANT INTERACTIVE GROUP, INC. ADR*							200,000				1,300,000
KINGSOFT CORP. LTD.*							2,500,000				2,305,928
NETDRAGON WEBSOFT, INC.*							1,200,000				1,374,993
NQ MOBILE, INC. ADR*							335,000				3,018,350
SHANDA GAMES LTD.*							83,000				247,340
											8,246,611
SPECIALTY RETAIL			1.9	%
LUK FOOK HLDGS. (INTERNATIONAL) LTD.*							800,000				2,575,879
TEXTILE APPAREL & LUXURY GOODS			0.7	%
TEXHONG TEXTILE GROUP LTD.*							1,000,000				954,732
TOTAL EQUITIES
(COST: $101,756,270)										$	128,535,043
COMMERCIAL PAPER			3.9	%		FACE AMOUNT				VALUE
PRUDENTIAL FINANCIAL
.35% DUE 4/2/13							5,200,000			$	5,200,000
TOTAL COMMERCIAL PAPER
(COST: $5,200,000)										$	5,200,000
TOTAL INVESTMENTS			100.1	%
(COST: $106,956,270)										$	133,735,043
OTHER LIABILITIES LESS ASSETS			(0.1	)%							(123,664	)
NET ASSETS - 100% (EQUIVALENT TO $12.35 PER SHARE BASED ON 10,815,581 SHARES OUTSTANDING)										$	133,611,379
Cost of Investments is $107,448,680 for federal income tax purposes and net unrealized appreciation consists of:
Gross unrealized appreciation										$	32,765,287
Gross unrealized depreciation											(6,478,924	)
Net unrealized appreciation										$	26,286,363

 

^(a) Certain securities were fair valued under the discretion of the Board of Trustees

 

* Non-income producing security during the period ended March 31, 2013

 

ADR - American depositary receipt

 

COUNTRY ALLOCATION (AS A PERCENTAGE OF NET ASSETS)
CHINA ( INCLUDES THE PEOPLE'S REPUBLIC OF CHINA AND HONG KONG)			94.7	%
SINGAPORE			1.5	%

 

 

OBERWEIS INTERNATIONAL OPPORTUNITIES FUND

SCHEDULE OF INVESTMENTS

MARCH 31, 2013 (UNAUDITED)

 

						SHARES				VALUE
EQUITIES			97.3	%
AUSTRALIA			0.7	%
AINSWORTH GAME TECHNOLOGY LTD.							54,605			$	204,094
CANADA			5.3	%
AVIGILON CORP.*							13,200				149,424
CONTINENTAL GOLD LTD.*							45,500				292,017
DEETHREE EXPLORATION LTD.*							60,100				389,860
EPSILON ENERGY LTD.*							15,700				65,372
PETROAMERICA OIL CORP.*							320,400				111,962
STANTEC, INC.							11,800				520,482
											1,529,117
CHINA			12.0	%
AAC ACOUSTIC TECHNOLOGIES HLDGS., INC.*							68,500				329,149
ANTON OILFIELD SERVICES GROUP*							202,000				140,520
BIOSTIME INTERNATIONAL HLDGS. LTD.*							90,500				471,585
CHINA GAS HLDGS. LTD.							298,000				297,132
GEELY AUTOMOBILE HLDGS. LTD.*							760,000				369,103
HONGHUA GROUP LTD.*							1,278,000				594,334
KINGSOFT CORP. LTD.*							267,000				245,585
SINO BIOPHARMACEUTICAL LTD.*							584,000				407,760
SUNNY OPTICAL TECHNOLOGY GROUP CO. LTD.*							543,000				626,759
											3,481,927
DENMARK			5.0	%
GN STORE NORD A/S							31,700				564,497
PANDORA A/S							19,600				541,002
SIMCORP A/S							1,250				335,863
											1,441,362
FINLAND			2.5	%
HUHTAMAKI OYJ*							19,600				385,166
OUTOTEC OYJ							22,800				334,065
											719,231
FRANCE			4.8	%
TELEPERFORMANCE*							19,000				809,710
THALES SA*							14,100				596,372
											1,406,082
GERMANY			6.6	%
AURELIUS AG							3,316				213,174
DEUTSCHE WOHNEN AG*							19,513				354,691
DUERR AG*							4,587				499,860
FREENET AG*							24,200				588,016
KUKA AG*							6,300				274,822
											1,930,563
HONG KONG			1.6	%
MAN WAH HLDGS. LTD.*							393,200				375,846
TRULY INTERNATIONAL HLDGS. LTD.*							186,000				96,084
											471,930
ITALY			3.0	%
DE'LONGHI SPA*							25,100				395,113
ERG SPA*							52,200				475,093
											870,206
JAPAN			32.6	%
CROOZ, INC.							188				319,341
DAIKOKU DENKI CO. LTD.							13,800				374,558
ENIGMO, INC.*							2,900				366,601
ENSHU LTD.							101,000				204,929
F@N COMMUNICATIONS, INC.*							12,800				543,220
FINANCIAL PRODUCTS GROUP CO. LTD.							10,200				314,121
GUNGHO ONLINE ENTERTAINMENT, INC.							60				256,228
HAJIME CONSTRUCTION CO. LTD.*							8,800				512,286
HITACHI ZOSEN FUKUI CORP.							16,600				190,097
KANAMOTO CO. LTD.*							26,000				562,065
NEC CORP.							99,000				262,920
NEXT CO. LTD.							22,600				228,797
ODELIC CO. LTD.							3,800				138,259
PIGEON CORP.							4,100				287,024
SUMITOMO DENSETSU CO. LTD.							21,100				288,924
TADANO LTD.							48,000				542,540
TEMP HLDGS. CO. LTD.							22,300				381,636
TS TECH CO. LTD.							17,600				498,450
TSUMURA & CO.							15,400				561,948
TSURUHA HLDGS., INC.							3,300				321,464
WACOM CO. LTD.							156				602,390
WEST HLDGS. CORP.							29,800				776,538
ZENKOKU HOSHO CO. LTD.							19,800				754,055
ZUIK0 CORP.							2,200				155,649
											9,444,040
SINGAPORE			2.0	%
OSIM INTERNATIONAL LTD.*							188,000				302,370
TAT HONG HLDGS. LTD.*							223,000				274,166
											576,536
SWEDEN			0.8	%
HEXPOL AB*							4,100				235,307
UNITED KINGDOM			20.4	%
888 HLDGS. PLC*							171,600				438,061
ASHTEAD GROUP PLC							96,500				860,010
BABCOCK INTERNATIONAL GROUP PLC							25,300				418,271
BARRATT DEVELOPMENTS PLC*							176,600				735,543
BELLWAY PLC							15,400				303,507
BODYCOTE PLC*							39,700				323,343
CSR PLC*							51,500				377,427
EASYJET PLC							29,200				479,198
GALLIFORD TRY PLC							13,800				192,500
INTERNATIONAL PERSONAL FINANCE PLC							89,930				608,097
MICRO FOCUS INTERNATIONAL PLC							32,318				336,636
THOMAS COOK GROUP PLC*							321,600				549,276
WILLIAM HILL PLC							50,777				285,404
											5,907,273
TOTAL EQUITIES
(COST: $23,562,279)										$	28,217,668
TOTAL INVESTMENTS			97.3	%
(COST: $23,562,279)										$	28,217,668
OTHER ASSETS LESS LIABILITIES			2.7	%							772,873
NET ASSETS - 100% (EQUIVALENT TO $14.56 PER SHARE BASED ON 1,991,487 SHARES OUTSTANDING)										$	28,990,541
Cost of investments is $23,627,215 for federal income tax purposes and net unrealized appreciation consists of:
Gross unrealized appreciation										$	5,034,770
Gross unrealized depreciation											(444,317	)
Net unrealized appreciation										$	4,590,453

 

* Non-income producing security during the period ended March 31, 2013

 

SECTOR ALLOCATIONS (As a percentage of Net Assets)
Consumer Discretionary			25.9	%
Consumer Staples			3.7	%
Energy			6.1	%
Financials			7.7	%
Health Care			5.3	%
Industrials			27.8	%
Information Technology			14.6	%
Materials			3.2	%
Telecommunications Service			2.0	%
Utilities			1.0	%

 

 

OBERWEIS ASIA OPPORTUNITIES FUND

SCHEDULE OF INVESTMENTS ^(a)

MARCH 31, 2013 (UNAUDITED)

 

						SHARES				VALUE
EQUITIES			90.9	%
AUSTRALIA			5.1	%
ATLAS IRON LTD.*							20,000			$	23,338
BURU ENERGY LTD.*							13,000				33,702
GRAINCORP. LTD.*							8,000				97,532
KAROON GAS AUSTRALIA LTD.*							8,000				43,219
LINC ENERGY LTD.*							15,000				35,452
MCMILLAN SHAKESPEARE LTD.							3,000				45,996
PANAUST LTD.							15,000				39,034
											318,273
CHINA			32.8	%
AAC ACOUSTIC TECHNOLOGIES HLDGS., INC.*							5,000				24,107
ANTON OILFIELD SERVICES GROUP*							150,000				104,563
BAIDU.COM, INC. ADR*							300				26,310
CHINA COMMUNICATIONS SERVICES CORP. LTD.*							80,000				51,795
CHINA MACHINERY ENGINEERING CORP.*							100,000				74,658
CHINA MEDICAL SYSTEM HLDGS. LTD.*							15,000				15,226
CHINA MINZHONG FOOD CORP. LTD.*							80,000				77,943
CHINA OVERSEAS GRAND OCEAN GROUP LTD.*							30,000				39,714
CHINA STATE CONSTRUCTION INTERNATIONAL HLDGS. LTD.*							70,000				96,066
CHINA TAIPING INSURANCE HLDGS. CO. LTD.*							30,000				51,273
CHINA WIRELESS TECHNOLOGIES, INC.*							260,000				85,764
CIMC ENRIC HLDGS. LTD.*							164,000				177,177
GEELY AUTOMOBILE HLDGS. LTD.*							150,000				73,162
GREAT WALL MOTOR CO. LTD.*							30,000				102,100
HAITONG SECURITIES CO. LTD.*							20,000				27,562
HONGHUA GROUP LTD.*							250,000				116,833
KINGSOFT CORP. LTD.*							100,000				92,237
KUNLUN ENERGY CO. LTD.*							14,000				29,827
NINE DRAGONS PAPER HLDGS. LTD.							160,000				151,098
NQ MOBILE, INC. ADR*							3,000				27,030
SHANGHAI FOSUN PHARMACEUTICAL (GROUP) CO. LTD.*							10,000				18,048
SINO BIOPHARMACEUTICAL LTD.*							150,000				104,930
SUNNY OPTICAL TECHNOLOGY GROUP CO. LTD.*							200,000				231,314
TCL MULTIMEDIA TECHNOLOGY HLDGS. LTD.*							80,000				62,192
TIANJIN ZHONGXIN PHARMACEUTICAL GROUP CORP. LTD.*							100,000				107,500
WINTEAM PHARMACEUTICAL GROUP LTD.*							66,000				30,163
YASHILI INTERNATIONAL HLDGS. LTD.*							150,000				50,948
											2,049,540
HONG KONG			5.7	%
CITIC TELECOM INTERNATIONAL HLDGS. LTD.*							300,000				111,933
GALAXY ENTERTAINMENT GROUP LTD.*							25,000				104,834
LUK FOOK HLDGS. (INTERNATIONAL) LTD.*							35,000				112,695
TECHTRONIC INDUSTRIES CO. LTD.*							10,000				24,471
											353,933
INDIA			7.8	%
APOLLO HOSPITALS ENTERPRISE LTD.*							3,000				46,305
BERGER PAINTS INDIA LTD.*							10,000				35,959
HAVELLS INDIA LTD.*							5,000				59,340
IPCA LABORATORIES LTD.*							10,000				97,406
MCLEOD RUSSEL (INDIA) LTD.*							10,000				64,583
YES BANK LTD.*							18,000				142,375
ZEE ENTERTAINMENT ENTERPRISES LTD.*							10,000				38,804
											484,772
INDONESIA			3.2	%
PT BUMI SERPONG DAMAI*							250,000				45,163
PT CIPUTRA PROPERTY TBK*							600,000				59,441
PT GLOBAL MEDIACOM TBK*							300,000				71,973
PT KAWASAN INDUSTRI JABABEKA TBK*							800,000				24,800
											201,377
JAPAN			8.7	%
ANRITSU CORP.							4,000				62,712
COOKPAD, INC.*							1,000				50,227
FUJI HEAVY INDUSTRIES LTD.							3,000				47,586
HAJIME CONSTRUCTION CO. LTD.*							1,000				58,447
MONEX GROUP, INC.							100				40,536
PARAMOUNT BED HLDGS. CO. LTD.							1,000				37,362
TADANO LTD.							4,000				45,421
TEMP HLDGS. CO. LTD.							5,000				85,852
WACOM CO. LTD.							30				116,319
											544,462
PHILIPPINES			2.6	%
AYALA CORP.*							5,000				69,328
METROPOLITAN BANK & TRUST CO.							15,000				43,005
PUREGOLD PRICE CLUB, INC.*							50,000				49,102
											161,435
SINGAPORE			5.2	%
EZION HLDGS. LTD.*							160,000				281,393
SUPER GROUP LTD.*							15,000				47,162
											328,555
SOUTH KOREA			4.8	%
BINGGRAE CO. LTD.							400				47,346
CLOVER HITECH CO. LTD.*							5,000				33,792
COM2US CORP.*							600				27,701
MEDY-TOX, INC.							500				51,426
ORION CORP.							50				48,940
PARADISE CO. LTD.*							2,500				47,753
PARTRON CO. LTD.*							2,000				46,245
											303,203
THAILAND			15.0	%
AIRPORTS OF THAILAND PCL*							15,000				62,882
ASIAN PROPERTY DEVELOPMENT PCL*							600,000				193,342
CENTRAL PLAZA HOTEL PCL*							80,000				104,098
HEMARAJ LAND & DEVELOPMENT PCL							500,000				72,286
HOME PRODUCT CENTER PCL*							250,000				143,952
PRUKSA REAL ESTATE PCL							40,000				41,171
QUALITY HOUSES PCL*							500,000				74,303
SINO THAI ENGINEERING & CONSTRUCTION PCL							180,000				170,565
TICON INDUSTRIAL CONNECTION PCL*							25,000				21,058
TOYO-THAI CORP. PCL*							35,000				52,065
											935,722
TOTAL EQUITIES
(COST: $4,629,044)										$	5,681,272
TOTAL INVESTMENTS			90.9	%
(COST: $4,629,044)										$	5,681,272
OTHER ASSET LESS LIABILITIES			9.1	%							570,401
NET ASSETS - 100% (EQUIVALENT TO $9.44 PER SHARE BASED ON 662,197 SHARES OUTSTANDING)										$	6,251,673
Cost of Investments is $4,629,044 for federal income tax purposes and net unrealized appreciation consists of:
Gross unrealized appreciation										$	1,154,969
Gross unrealized depreciation											(102,741	)
Net unrealized appreciation										$	1,052,228

 

       

^(a) Certain securities were fair valued under the discretion of the Board of Trustees      

       

* Non-income producing security during the period ended March 31, 2013      

       

ADR - American depositary receipt      

 

SECTOR ALLOCATIONS (As a percentage of Net Assets)
Consumer Discretionary			20.4	%
Consumer Staples			7.7	%
Energy			10.3	%
Financials			15.1	%
Health Care			8.2	%
Industrials			13.9	%
Information Technology			8.7	%
Materials			4.0	%
Telecommunication Service			2.6	%

 

 

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. The Fair Value Measurement Standard applies to fair value measurements already required or permitted by existing standards.

 

Various inputs are used in determining the value of the Fund’s investments. These inputs are summarized in the three levels listed below:

 

·

Level 1 – Quoted prices in active markets for identical securities.

·

Level 2 – Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc).

·

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 March 31, 2013:

 

		Micro-Cap Fund				Emerging Growth Fund				Small-Cap Opportunities Fund
Level 1 – Equities		$	20,249,076			$	62,410,143			$	7,453,580
REIT			440,130				693,852				-
Total Level 1			20,689,206				63,103,995				7,453,580
Level 2  – Equities			-				-				-
Total Corporate Bonds			532,820				-				-
Total Level 2			532,820				-				-
Level 3			-				-				-
Total Investments		$	21,222,026			$	63,103,995			$	7,453,580

 

 

		China Opportunities Fund				International Opportunities Fund				Asia Opportunities Fund
Level 1 – Equities
Total Asia		$	27,920,520			$	13,974,433			$	522,278
Total Australia			-				204,094				-
Total Europe			-				12,510,024				-
Total North America			-				1,529,117				-
Total Level 1			27,920,520				28,217,668				522,278
Level 2
Total Asia			100,614,523				-				4,840,721
Total Australia			-				-				318,273
Total Commercial Paper			5,200,000				-				-
Total Level 2			105,814,523				-				5,158,994
Level 3			-				-				-
Total Investments		$	133,735,043			$	28,217,668			$	5,681,272

 

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. When fair market valuations are employed these techniques may result in transfers between Level 1 and Level 2.

 

The Micro-Cap Fund holds a corporate bond with a convertible feature. The value of this security is determined based on multiple factors, including the performance of the underlying stock, its volatility and coupon rate.

 

Significant Transfers between Levels 1 and 2 included securities valued at $3,642,650, $17,684,603, and $278,192 at March 31, 2013 respectively for the China Opportunities Fund, International Opportunities Fund, and the Asia Opportunities Fund. These changes were primarily the result of certain foreign securities using a systematic fair value model at March 31, 2013.

 

 

 

ITEM 2. CONTROLS AND PROCEDURES

 

(a) The registrant's principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the "1940 Act"), are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934.

 

(b) There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrant's last fiscal quarter that has materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.

 

ITEM 3. EXHIBITS.

 

(a) Certifications of principal executive and principal financial officers as required by Rule 30a-2(a) under the Investment Company Act of 1940.

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

The Oberweis Funds

 

By:	/s/ James W. Oberweis
	James W. Oberweis
	Principal Executive Officer

 

Date:

May 30, 2013

 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

 

By:	/s/ James W. Oberweis
	James W. Oberweis
	Principal Executive Officer

 

Date:

May 30, 2013

 

 

By:	/s/ Patrick B. Joyce
	Patrick B. Joyce
	Principal Financial Officer

 

Date:

May 30, 2013