Perritt Ultra MicroCap Fund | |||||||
Schedule of Investments (Unaudited) | January 31, 2023 | ||||||
Shares | COMMON STOCKS - 97.69% | Value | |||||
Aerospace & Defense - 1.50% | |||||||
40,000 | VirTra, Inc. (a) | $ | 190,400 | ||||
190,400 | |||||||
Biotechnology - 2.85% | |||||||
12,000 | Actinium Pharmaceuticals, Inc. (a) | 140,640 | |||||
30,000 | ImmuCell Corp. (a) | 222,300 | |||||
362,940 | |||||||
Capital Markets - 1.63% | |||||||
11,000 | Silvercrest Asset Management Group, Inc. - Class A | 207,900 | |||||
207,900 | |||||||
Chemicals - 3.26% | |||||||
48,250 | Flexible Solutions International, Inc. - ADR(a)(c) | 153,917 | |||||
20,000 | Northern Technologies International Corp. | 261,000 | |||||
414,917 | |||||||
Commercial Services & Supplies - 1.93% | |||||||
35,600 | Quest Resource Holding Corp. (a) | 245,640 | |||||
245,640 | |||||||
Communications Equipment - 4.01% | |||||||
75,000 | BK Technologies Corp. | 287,250 | |||||
48,075 | PC-Tel, Inc. | 222,587 | |||||
509,837 | |||||||
Construction & Engineering - 2.93% | |||||||
14,635 | Bowman Consulting Group Ltd. (a) | 373,046 | |||||
373,046 | |||||||
Distributors - 0.78% | |||||||
30,090 | Educational Development Corp. | 99,297 | |||||
99,297 | |||||||
Diversified Financial Services - 2.72% | |||||||
9,000 | A-Mark Precious Metals, Inc. | 346,500 | |||||
346,500 | |||||||
Electrical Equipment - 0.43% | |||||||
25,000 | Expion360, Inc. (a) | 54,500 | |||||
54,500 | |||||||
Electronic Equipment, Instruments & Components - 7.80% | |||||||
20,000 | Airgain, Inc. (a) | 160,000 | |||||
44,899 | Data I/O Corp. (a) | 189,025 | |||||
16,000 | Identiv, Inc. (a) | 139,520 | |||||
22,500 | Luna Innovations, Inc. (a) | 198,900 | |||||
10,500 | Napco Security Technologies, Inc. (a) | 304,185 | |||||
991,630 | |||||||
Energy Equipment & Services - 0.35% | |||||||
9,000 | Gulf Island Fabrication, Inc. (a) | 44,100 | |||||
44,100 | |||||||
Equity Real Estate Investment - 2.47% | |||||||
40,000 | Global Self Storage, Inc. | 204,400 | |||||
8,570 | Modiv, Inc. - Class C | 109,095 | |||||
313,495 | |||||||
Food & Staples Retailing - 0.55% | |||||||
15,000 | HF Foods Group, Inc. (a) | 69,900 | |||||
69,900 | |||||||
Food Products - 0.29% | |||||||
50,000 | Better Choice Co, Inc. (a) | 36,995 | |||||
36,995 | |||||||
Health Care Equipment & Supplies - 4.65% | |||||||
32,500 | Biomerica, Inc. (a) | 97,500 | |||||
131,756 | Dynatronics Corp. (a) | 57,973 | |||||
73,011 | INVO BioScience, Inc. (a) | 49,209 | |||||
19,987 | Sensus Healthcare, Inc. (a) | 182,681 | |||||
70,748 | Strata Skin Sciences, Inc. (a) | 62,407 | |||||
1,250 | UFP Technologies, Inc. (a) | 142,163 | |||||
591,933 | |||||||
Health Care Providers & Services - 1.60% | |||||||
35,000 | Quipt Home Medical Corp. - ADR (a)(c) | 203,000 | |||||
203,000 | |||||||
Health Care Technology - 1.39% | |||||||
49,200 | CareCloud, Inc. (a) | 177,120 | |||||
177,120 | |||||||
Hotels, Restaurants & Leisure - 4.08% | |||||||
40,000 | Bragg Gaming Group, Inc. - ADR(a)(c) | 146,000 | |||||
20,000 | Century Casinos, Inc. (a) | 176,400 | |||||
66,621 | Galaxy Gaming, Inc. (a) | 196,199 | |||||
518,599 | |||||||
Household Durables - 1.09% | |||||||
31,084 | Singing Machine Co., Inc. (a) | 138,013 | |||||
138,013 | |||||||
Interactive Media & Services - 1.63% | |||||||
35,000 | DHI Group, Inc. (a) | 207,900 | |||||
207,900 | |||||||
IT Services - 8.02% | |||||||
15,000 | BM Technologies, Inc. (a) | 67,800 | |||||
15,000 | Cantaloupe, Inc. (a) | 76,350 | |||||
44,752 | Data Storage Corp. (a) | 77,869 | |||||
40,001 | DecisionPoint Systems, Inc. (a) | 364,409 | |||||
25,000 | Information Services Group, Inc. | 131,000 | |||||
75,000 | Research Solutions, Inc. (a) | 166,500 | |||||
70,000 | Usio, Inc. (a) | 136,500 | |||||
1,020,428 | |||||||
Leisure Products - 0.86% | |||||||
26,802 | Vision Marine Technologies, Inc. - ADR (a)(c) | 108,816 | |||||
108,816 | |||||||
Machinery - 5.78% | |||||||
17,500 | Commercial Vehicle Group, Inc. (a) | 146,650 | |||||
15,000 | Gencor Industries, Inc. (a) | 159,600 | |||||
19,820 | P&F Industries, Inc. - Class A | 110,199 | |||||
10,315 | Taylor Devices, Inc. (a) | 167,928 | |||||
60,000 | TechPrecision Corp. (a) | 150,600 | |||||
734,977 | |||||||
Media - 4.87% | |||||||
44,254 | Direct Digital Holdings, Inc. - Class A (a) | 254,461 | |||||
7,500 | Perion Network Ltd. - ADR (a)(c) | 251,250 | |||||
4,500 | Saga Communications, Inc. - Class A | 113,625 | |||||
619,336 | |||||||
Metals & Mining - 1.22% | |||||||
47,236 | Ampco-Pittsburgh Corp. (a) | 154,934 | |||||
154,934 | |||||||
Mortgage Real Estate Investment Trusts - 2.30% | |||||||
10,950 | Chicago Atlantic Real Estate Finance, Inc. | 169,178 | |||||
32,500 | Sachem Capital Corp. | 123,500 | |||||
292,678 | |||||||
Oil, Gas & Consumable Fuels - 0.69% | |||||||
24,143 | PHX Minerals, Inc. | 87,156 | |||||
87,156 | |||||||
Personal Products - 0.83% | |||||||
12,000 | Natural Alternatives International, Inc. (a) | 105,120 | |||||
105,120 | |||||||
Pharmaceuticals - 2.56% | |||||||
18,000 | Alimera Sciences, Inc. (a) | 49,500 | |||||
79,550 | Medicine Man Technologies, Inc. (a) | 112,166 | |||||
20,000 | ProPhase Labs, Inc. | 163,600 | |||||
325,266 | |||||||
Professional Services - 6.59% | |||||||
10,000 | BGSF, Inc. | 144,800 | |||||
34,000 | DLH Holdings Corp. (a) | 418,540 | |||||
11,014 | Hudson Global, Inc. (a) | 274,799 | |||||
838,139 | |||||||
Semiconductors & Semiconductor Equipment - 3.09% | |||||||
22,500 | AXT, Inc. (a) | 132,525 | |||||
20,000 | inTEST Corp. (a) | 260,000 | |||||
392,525 | |||||||
Software - 5.03% | |||||||
20,000 | Asure Software, Inc. (a) | 212,600 | |||||
15,000 | Intrusion, Inc. (a) | 53,100 | |||||
10,133 | Issuer Direct Corp. (a) | 280,785 | |||||
30,500 | NetSol Technologies, Inc. (a) | 92,720 | |||||
639,205 | |||||||
Technology Hardware, Storage & Peripherals - 2.70% | |||||||
55,000 | One Stop Systems, Inc. (a) | 193,050 | |||||
20,000 | TransAct Technologies, Inc. (a) | 150,800 | |||||
343,850 | |||||||
Textile, Apparel & Luxury Goods - 1.89% | |||||||
22,500 | Crown Crafts, Inc. | 132,075 | |||||
7,500 | Lakeland Industries, Inc. (a) | 108,600 | |||||
240,675 | |||||||
Trading Companies & Distributors - 1.31% | |||||||
2,000 | Transcat, Inc. (a) | 167,040 | |||||
167,040 | |||||||
Water Utilities - 2.01% | |||||||
18,000 | Global Water Resources, Inc. | 256,140 | |||||
256,140 | |||||||
TOTAL COMMON STOCKS ($9,078,535) | $ | 12,423,947 | |||||
Contracts | WARRANTS - 0.03% | ||||||
Health Care Equipment & Supplies - 0.00% | |||||||
250,000 | Titan Medical, Inc. | ||||||
Expiration: 08/10/2023, Exercise Price $3.20 (a)(b)(e)(f) | 0 | ||||||
Metals & Mining - 0.04% | |||||||
15,000 | Ampco-Pittsburgh Corp. | ||||||
Expiration: 08/01/2025, Exercise Price $5.75 (a)(b) | $ | 4,485 | |||||
TOTAL WARRANTS (Cost $85,000) | $ | 4,485 | |||||
Shares | SHORT-TERM INVESTMENTS - 2.72% | ||||||
Money Market Funds - 2.72% | |||||||
345,993 | U.S. Bank Money Market Deposit Account, 3.90% (d) | $ | 345,993 | ||||
TOTAL SHORT TERM INVESTMENTS (Cost $345,993) | $ | 345,993 | |||||
Total Investments (Cost$9,509,528) - 100.45% | $ | 12,774,425 | |||||
Liabilities in Excess of Other Assets - (0.45)% | (57,843 | ) | |||||
TOTAL NET ASSETS - 100.00% | $ | 12,716,582 |
Percentages are stated as a percent of net assets. | |
ADR - American Depositary Receipt |
(a) | Non-income producing security. | ||
(b) | These securities are deemed to be illiquid. These securities represent $4,485 of value or 0.04% of net assets. | ||
(c) | Foreign issued security. | ||
(d) | The U.S. Bank Money Market Deposit Account (the “MMDA”) is a short-term investment vehicle in which the Fund holds cash balances. The MMDA will bear interest at a variable rate that is determined based on conditions and may change daily and by any amount. The rate shown is as of January 31, 2023. | ||
(e) | Security was purchased in a transaction exempt from registration in the U.S. under the Securities Act of 1933 (the “Act”) and, unless registered under the Act, may only be sold pursuant to exemption from registration and, in the case of a Rule 144A offering under the Act, may only be sold to “qualified institutional buyers.” The value of this security is $0 or 0.00% of the Fund’s net assets. | ||
(f) | The prices for this security was derived from estimates of fair value using methods approved by the Fund's Board of Directors. This security represents $0 of value or 0.00% of net assets. |