13F-HR 1 pcm4q13f-finalwithcover.txt United States Securities and Exchange Commission Washington, D.C. 20549 FORM 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: December 31, 2009 Check here if Amendment [ ]; Amendment Number: This Amendment (Check only one): [ ] is a restatement [ ] adds new holdings entries Institutional Investment Manager Filing this Report: Name: Paradigm Capital Management, Inc. Address: 9 Elk Street Albany, NY 12207 13F File Number: 028-06298 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: John V. Gulick Title: Vice President, Chief Compliance Officer Phone: (518) 431-3500 Signature, Place, and Date of Signing: /s/ John V. Gulick Albany, NY February 9, 2010 Report Type (Check only one.): [X] 13F HOLDINGS REPORT. [ ] 13F NOTICE [ ] 13F COMBINATION REPORT FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 1 Form 13F Information Table Entry Total: 304 Form 13F Information Table Value Total: 1,753,428 (x1000) List of Other Included Managers: No. 13F File Number Name - --- --------------- ----------------------------------- 01 028-00000 Paradigm Funds Advisor LLC FORM 13F INFORMATION TABLE VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- A.C. Moore Arts & Crafts, Inc. 00086T103 3776 1284300 SH Sole 1284300 Accuracy, Inc 004397105 2139 381323 SH Sole 381323 Adirondack Trust co Saratoga S 007014103 315 280 SH Sole 280 Albany International Corp. 'A' 012348108 225 10000 SH Sole 10000 Alleghany Corporation 017175100 6710 24313 SH Sole 24313 45 164 SH Defined 01 164 Alliant Techsystems 018804104 6215 70410 SH Sole 70410 79 895 SH Defined 01 895 Alphatec Hldgs Inc 02081g102 8406 1574200 SH Sole 1574200 Amer Eagle Outfitters 02553e106 13133 773460 SH Sole 773460 2102 123800 SH Defined 01 123800 American Financial Group 025932104 8756 350940 SH Sole 350940 1285 51495 SH Defined 01 51495 American Italian Pasta Co-CL A 027070101 8679 249475 SH Sole 249475 1322 38000 SH Defined 01 38000 American Oriental Bioengineeri 028731107 51 11000 SH Sole 11000 Amerigroup Corp 03073T102 13100 485905 SH Sole 485905 2106 78100 SH Defined 01 78100 Anaren Microwave 032744104 18830 1251181 SH Sole 1251181 AngioDynamics, Inc. 03475V101 14721 917200 SH Sole 917200 Anworth Mortgage Asset Corp 037347101 11596 1656570 SH Sole 1656570 1681 240110 SH Defined 01 240110 Applied Materials 038222105 412 29545 SH Sole 29545 31 2230 SH Defined 01 2230 Aptargroup, 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235425 Bowne & Co. 103043105 9467 1417183 SH Sole 1417183 Brightpoint, Inc. 109473405 16956 2306889 SH Sole 2306889 Brooks Automation Inc. 114340102 431 50200 SH Sole 50200 Build-A-Bear Workshop, Inc. 120076104 9756 1995100 SH Sole 1995100 Canadian National Railway 136375102 405 7455 SH Sole 7455 56 1035 SH Defined 01 1035 Cantel Medical Corp. 138098108 5922 293475 SH Sole 293475 1713 84900 SH Defined 01 84900 Career Education Corporation 141665109 11771 504955 SH Sole 504955 1804 77400 SH Defined 01 77400 Cenveo, Inc. 15670S105 30813 3521501 SH Sole 3521501 Chordiant Software Inc 170404305 5544 2008800 SH Sole 2008800 Church & Dwight Co, Inc. 171340102 6201 102580 SH Sole 102580 42 700 SH Defined 01 700 Cinedigm Digital Cinema Corp C 172407108 61 50000 SH Sole 50000 CMS Energy Corporation 125896100 3768 240630 SH Sole 240630 25 1600 SH Defined 01 1600 Cohu Inc. 192576106 2694 193100 SH Sole 193100 Colgate-Palmolive 194162103 3787 46100 SH Sole 46100 Collective Brands 19421w100 29756 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Dxp Enterprises Inc- New 233377407 2452 187595 SH Sole 187595 1340 102500 SH Defined 01 102500 Earthlink, Inc. 270321102 14245 1714240 SH Sole 1714240 2256 271497 SH Defined 01 271497 Einstein Noah Restaurant Group 28257u104 529 53789 SH Sole 53789 EMCOR Group, Inc. 29084Q100 13609 505905 SH Sole 505905 2171 80700 SH Defined 01 80700 EMS Technologies Inc 26873n108 7691 530410 SH Sole 530410 Endo Pharmaceuticals Hldgs Inc 29264f205 15494 755075 SH Sole 755075 2407 117300 SH Defined 01 117300 Energy XXI Bermuda Limited g10082108 269 116400 SH Sole 116400 Epicor Software Corporation 29426L108 19693 2584425 SH Sole 2584425 Ethan Allen Interiors 297602104 13242 986700 SH Sole 986700 Everest Re Group LTD g3223r108 6207 72440 SH Sole 72440 43 500 SH Defined 01 500 Exco Resources 269279402 9126 429843 SH Sole 429843 152 7140 SH Defined 01 7140 Exelon Corp. 30161n101 283 5800 SH Sole 5800 Exide Technologies 302051206 10329 1452700 SH Sole 1452700 Expressjet Hldgs Inc. 30218u306 144 29850 SH Sole 29850 Ezcorp Inc 302301106 12920 751155 SH Sole 751155 2028 117900 SH Defined 01 117900 Fair Isaac Inc 303250104 9923 465645 SH Sole 465645 1401 65725 SH Defined 01 65725 Finish Line, Inc. 317923100 25342 2019300 SH Sole 2019300 First Financial Bancorp-OHIO 320209109 198 13600 SH Sole 13600 Flowers Foods, Inc. 343498101 10553 444158 SH Sole 444158 1612 67825 SH Defined 01 67825 Foot Locker, Inc. 344849104 11246 1009490 SH Sole 1009490 1797 161300 SH Defined 01 161300 Fossil, Inc. 349882100 17260 514300 SH Sole 514300 Fresh Del Monte Produce Inc. G36738105 11507 520695 SH Sole 520695 1843 83400 SH Defined 01 83400 Gamestop corp- new cl-A 36467w109 5746 261910 SH Sole 261910 103 4685 SH Defined 01 4685 GATX Corp 361448103 6411 222975 SH Sole 222975 1872 65100 SH Defined 01 65100 General Dynamics Corp 369550108 656 9620 SH Sole 9620 82 1200 SH Defined 01 1200 General Electric 369604103 241 15950 SH Sole 15950 Globecomm Systems 37956X103 5481 700902 SH Sole 700902 Golfsmith International Holdin 38168y103 2038 905947 SH Sole 905947 Greatbatch Inc. 39153l106 2598 135100 SH Sole 135100 Halozyme Therapeutics, Inc. 40637H109 59 10000 SH Sole 10000 Harleysville Group Inc 412824104 11048 347540 SH Sole 347540 1520 47800 SH Defined 01 47800 Harmonic Inc 413160102 3607 570800 SH Sole 570800 Harris Interactive Inc. 414549105 190 159803 SH Sole 159803 Hasbro Inc 418056107 5913 184430 SH Sole 184430 42 1300 SH Defined 01 1300 Haverty Furniture Companies In 419596101 10629 774144 SH Sole 774144 Hercules Offshore Inc 427093109 143 30000 SH Sole 30000 Hewlett-Packard 428236103 221 4300 SH Sole 4300 Hilltop Holdings Inc. 432748101 9034 776155 SH Sole 776155 1374 118000 SH Defined 01 118000 Hot Topic Inc 441339108 1226 193100 SH Sole 193100 Hughes Communications 444398101 6252 240200 SH Sole 240200 Huttig Building 448451104 1506 2008300 SH Sole 2008300 Immucor Inc 452526106 15761 778700 SH Sole 778700 infoGROUP, Inc. 45670g108 203 25300 SH Sole 25300 Innospec Inc 45768s105 9974 988513 SH Sole 988513 1173 116205 SH Defined 01 116205 Insight Enterprises 45765U103 34757 3043516 SH Sole 3043516 Integral Systems Inc-Md 45810h107 9419 1087633 SH Sole 1087633 Integrated Silicon Solution 45812P107 71 12500 SH Sole 12500 Interphase Corp 460593106 125 48834 SH Sole 48834 Intl Business Machines 459200101 458 3500 SH Sole 3500 Intuitive Surgical Inc New 46120e602 303 1000 SH Sole 1000 Invesco Mortgage Capital 46131b100 6179 271500 SH Sole 271500 1693 74400 SH Defined 01 74400 Iridium Communications, Inc. 46269c102 13168 1639885 SH Sole 1639885 1296 161400 SH Defined 01 161400 J.M. Smucker Company 832696405 6691 108355 SH Sole 108355 49 800 SH Defined 01 800 Jabil Circuit 466313103 19167 1103472 SH Sole 1103472 JDA Software 46612K108 25271 992200 SH Sole 992200 Jefferies Group Inc New 472319102 15136 637834 SH Sole 637834 2213 93260 SH Defined 01 93260 Johnson & Johnson 478160104 5063 78600 SH Sole 78600 Kaman Corp 483548103 4532 196275 SH Sole 196275 1157 50100 SH Defined 01 50100 KHD Humboldt Wedag Int'l ltd 482462108 13592 998710 SH Sole 998710 Kinder Morgan Energy Partners 494550106 549 9005 SH Sole 9005 Kirkland's Inc. 497498105 12442 716274 SH Sole 716274 Kopin Corp 500600101 1311 313701 SH Sole 313701 Lawson Software Inc 52078p102 6184 929950 SH Sole 929950 1961 294900 SH Defined 01 294900 Life Technologies Corporation 53217v109 6332 121265 SH Sole 121265 151 2900 SH Defined 01 2900 Lincare Holdings Inc. 532791100 5978 160990 SH Sole 160990 41 1100 SH Defined 01 1100 LMI Aerospace 502079106 6 425 SH Sole 425 1942 146000 SH Defined 01 146000 Magellan Health Services, Inc. 559079207 18283 448880 SH Sole 448880 2839 69695 SH Defined 01 69695 Markel Corp 570535104 3570 10500 SH Sole 10500 17 50 SH Defined 01 50 Matrix Service Co. 576853105 10369 973587 SH Sole 973587 1824 171300 SH Defined 01 171300 Mednax Inc 58502b106 11689 194455 SH Sole 194455 1863 31000 SH Defined 01 31000 Merck & Co 58933y105 677 18528 SH Sole 18528 Merix Corporation 590049102 4024 1642637 SH Sole 1642637 MFA Financial Inc. 55272x102 11832 1609846 SH Sole 1609846 1823 247980 SH Defined 01 247980 mhgc 61748w108 135 29450 SH Sole 29450 Micros Systems Inc 594901100 10429 336090 SH Sole 336090 1673 53900 SH Defined 01 53900 Mid America Apartment Communit 59522j103 6229 129025 SH Sole 129025 1917 39700 SH Defined 01 39700 MKS Instruments Inc. 55306n104 174 10000 SH Sole 10000 Mortons Restaurant Group 619430101 200 68568 SH Sole 68568 National Western Life Insuranc 638522102 8632 49715 SH Sole 49715 1425 8205 SH Defined 01 8205 Nature's Sunshine Products, In 639027101 13482 1578737 SH Sole 1578737 Ness Technologies 64104x108 13544 2758500 SH Sole 2758500 NetScout Systems Inc. 64115t104 10665 729500 SH Sole 729500 New York & Company, Inc. 649295102 13903 3240900 SH Sole 3240900 Nighthawk Radiology Holdings I 65411n105 5655 1248400 SH Sole 1248400 Noble Romans Inc. 655107100 35 39600 SH Sole 39600 Novellus Systems Inc 670008101 233 10000 SH Sole 10000 Obagi Medical Products 67423r108 8462 705200 SH Sole 705200 Olin Corp 680665205 9727 555210 SH Sole 555210 1477 84300 SH Defined 01 84300 Oplink Communications, Inc. 68375Q403 9974 608541 SH Sole 608541 Pacific Sunwear of California 694873100 2641 663575 SH Sole 663575 401 100700 SH Defined 01 100700 Parametric Technology New 699173209 28312 1732653 SH Sole 1732653 PepsiCo Inc 713448108 5197 85485 SH Sole 85485 45 745 SH Defined 01 745 PerkinElmer, Inc. 714046109 15156 736075 SH Sole 736075 2328 113085 SH Defined 01 113085 Phillips-Van Heusen Corporatio 718592108 13136 322902 SH Sole 322902 1744 42875 SH Defined 01 42875 Phontronics Inc 719405102 2371 532700 SH Sole 532700 Piper Jaffray Companies 724078100 12098 239050 SH Sole 239050 1852 36600 SH Defined 01 36600 Plains Exploration and Product 726505100 5240 189450 SH Sole 189450 50 1800 SH Defined 01 1800 Powerwave Technologies, Inc. 739363109 9006 7147887 SH Sole 7147887 Precision Castparts 740189105 7295 66105 SH Sole 66105 113 1025 SH Defined 01 1025 Premiere Global Services, Inc. 740585104 13914 1686511 SH Sole 1686511 2215 268505 SH Defined 01 268505 Procter & Gamble 742718109 442 7282 SH Sole 7282 Qlogic Corp 747277101 13503 715605 SH Sole 715605 2094 110965 SH Defined 01 110965 Regal Entertainment Group 758766109 17440 1207760 SH Sole 1207760 2849 197300 SH Defined 01 197300 Resolute Energy Corp 76116a108 13561 1177170 SH Sole 1177170 2081 180655 SH Defined 01 180655 Richardson Electronics, Ltd. 763165107 7833 1334374 SH Sole 1334374 Robbins & Myers 770196103 3193 135770 SH Sole 135770 21 900 SH Defined 01 900 Royal Gold, Inc. 780287108 7784 165295 SH Sole 165295 41 875 SH Defined 01 875 RTI Biologics 74975n105 3482 906894 SH Sole 906894 Ruby Tuesday 781182100 4620 641700 SH Sole 641700 1219 169300 SH Defined 01 169300 Seacor Holdings, Inc. 811904101 3978 52175 SH Sole 52175 846 11100 SH Defined 01 11100 Sensient Technologies Corp 81725T100 10369 394275 SH Sole 394275 1778 67600 SH Defined 01 67600 Silgan Holdings Inc. 827048109 14937 258075 SH Sole 258075 2343 40485 SH Defined 01 40485 Solta Medical Inc 83438k103 5533 2725565 SH Sole 2725565 Spectrum Control, Inc. 847615101 5 550 SH Sole 550 1975 208600 SH Defined 01 208600 St. Mary Land & Exploration Co 792228108 11813 345015 SH Sole 345015 1887 55100 SH Defined 01 55100 Stage Stores, Inc. 85254C305 13715 1109664 SH Sole 1109664 Stanley Furniture Company, Inc 854305208 1732 170598 SH Sole 170598 Stein Mart Inc 858375108 15774 1479700 SH Sole 1479700 Steiner Leisure Limited p8744y102 22282 560400 SH Sole 560400 Steris Corp 859152100 10074 360170 SH Sole 360170 1527 54600 SH Defined 01 54600 Superior Indus Intl 868168105 2414 157750 SH Sole 157750 633 41400 SH Defined 01 41400 Sybase Inc 871130100 14153 326105 SH Sole 326105 2144 49400 SH Defined 01 49400 Symantec Corp. 871503108 6410 358325 SH Sole 358325 Symmetricom Inc 871543104 18547 3566700 SH Sole 3566700 Syneron Medical Ltd M87245102 14533 1390700 SH Sole 1390700 Syniverse Holdings Inc com 87163f106 175 10000 SH Sole 10000 SYNNEX Corporation 87162W100 24215 789800 SH Sole 789800 Teleflex Incorporated 879369106 210 3900 SH Sole 3900 Telephone and Dta Systems - Sp 879433860 4637 153530 SH Sole 153530 30 1000 SH Defined 01 1000 Terra Industries, Inc. 880915103 6293 195500 SH Sole 195500 Tns Inc 872960109 215 8350 SH Sole 8350 Town Sports Intl Hldgs Inc 89214a102 3887 1668281 SH Sole 1668281 Trans World Entertainment 89336Q100 588 389700 SH Sole 389700 TTM Technologies, Inc. 87305R109 30315 2629185 SH Sole 2629185 Unifi, Inc 904677101 967 249285 SH Sole 249285 United Financial 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