NPORT-EX

Perritt Micro Cap Opportunities
Schedule of Investments (Unaudited)			July 31, 2021
Shares		COMMON STOCKS - 99.19%	Value
		Administrative and Support Services - 2.73%
	25,386	BGSF, Inc.	$	320,371
	46,746	Hudson Global, Inc. (a)		832,079
	70,000	Select Interior Concepts, Inc. - Class A (a)		765,800
				1,918,250
		Auto Parts & Equipment - 3.62%
	44,000	Miller Industries, Inc.		1,650,440
	40,000	Motorcar Parts of America, Inc. (a)		889,600
				2,540,040
		Biotechnology - 0.52%
	22,500	Opiant Pharmaceuticals, Inc. (a)		362,700
				362,700
		Building Materials - 2.59%
	10,000	BlueLinx Holdings, Inc. (a)		429,600
	30,000	PGT Innovations, Inc. (a)		677,400
	36,593	Tecnoglass, Inc. (c)		705,879
				1,812,879
		Business Services - 8.85%
	125,422	CynergisTek, Inc. (a)		269,657
	253,041	DLH Holdings Corp. (a)		2,656,931
	56,514	GP Strategies Corp. (a)		1,150,060
	174,947	Information Services Group, Inc.		1,044,434
	83,000	Intrusion, Inc. (a)		376,820
	60,000	PFSweb, Inc. (a)		705,600
				6,203,502
		Chemical & Related Products - 5.90%
	221,625	Northern Technologies International Corp.		4,139,955
				4,139,955
		Chemical Manufacturing - 1.45%
	100,000	Assertio Holdings, Inc. (a)		126,000
	125,000	ProPhase Labs, Inc.		895,000
				1,021,000
		Commercial Services - 1.16%
	40,000	TriState Capital Holdings, Inc. (a)		812,400
				812,400
		Computer and Electronic Product Manufacturing - 4.45%
	93,000	Coda Octopus Group, Inc. (a)		842,580
	42,000	Gilat Satellite Networks Ltd. (c)		440,160
	93,000	Magal Security Systems Ltd. (c)		422,220
	100,000	Orbital Energy Group, Inc. (a)		341,000
	50,000	Powerfleet, Inc. (a)		340,500
	43,722	TransAct Technologies, Inc. (a)		727,971
				3,114,431
		Construction & Engineering - 3.19%
	57,655	Gencor Industries, Inc. (a)		676,870
	28,700	IES Holdings, Inc. (a)		1,561,567
				2,238,437
		Consumer Goods - 1.76%
	40,000	Turtle Beach Corp. (a)		1,236,000
				1,236,000
		Consumer Products - Manufacturing - 1.18%
	14,000	Delta Apparel, Inc. (a)		448,000
	16,353	Superior Group of Cos., Inc.		382,824
				830,824

	Consumer Services - 0.59%
103,800	DHI Group, Inc. (a)	415,200
		415,200
	Data Processing, Hosting and Related Services - 0.66%
25,000	Ooma, Inc. (a)	463,750
		463,750
	Educational Services - 1.61%
75,000	Lincoln Educational Services Corp. (a)	520,500
100,000	Universal Technical Institute, Inc. (a)	608,000
		1,128,500
	Electronic Equipment & Instruments - 1.20%
20,000	Bel Fuse, Inc. - Class B	272,800
35,000	Identiv, Inc. (a)	569,800
		842,600
	Electronics and Appliance Stores - 0.17%
13,500	Aterian, Inc. (a)	121,905
		121,905
	Engineering & Construction - 0.97%
56,150	Infrastructure & Energy Alternatives, Inc. (a)	677,731
		677,731
	Environmental Services - 1.27%
150,000	Quest Resource Holding Corp. (a)	888,000
		888,000
	Financial Services - 10.19%
32,000	First Internet Bancorp	968,960
20,000	Hennessy Advisors, Inc.	186,000
227,643	Silvercrest Asset Management Group, Inc. - Class A	3,633,182
406,600	U.S. Global Investors, Inc. - Class A	2,358,280
		7,146,422
	Food - 0.55%
35,000	Landec Corp. (a)	382,900
		382,900
	Gold - 1.76%
125,000	Fortuna Silver Mines, Inc. (a)(c)	593,750
145,000	Gold Resource Corp.	305,950
280,000	McEwen Mining, Inc. (a)	336,000
		1,235,700
	Healthcare Services - 0.84%
32,500	InfuSystem Holdings, Inc. (a)	593,125
		593,125
	Home Builder - 1.08%
30,100	Green Brick Partners, Inc. (a)	754,607
		754,607
	Housing - 2.46%
98,000	Legacy Housing Corp. (a)	1,728,720
		1,728,720
	Leisure - 2.10%
84,000	Century Casinos, Inc. (a)	941,640
90,000	Galaxy Gaming, Inc. (a)	405,000
30,000	Super League Gaming, Inc. (a)	126,900
		1,473,540
	Machinery Manufacturing - 1.22%
40,000	Graham Corp.	547,600
220,000	TechPrecision Corp. (a)	304,700
		852,300
	Medical Supplies & Services - 1.70%
3,000	Addus HomeCare Corp. (a)	260,370
16,441	IntriCon Corp. (a)	394,584
20,000	Lakeland Industries, Inc. (a)	539,200
		1,194,154

	Merchant Wholesalers, Durable Goods - 1.54%
21,250	A-Mark Precious Metals, Inc.	1,082,475
		1,082,475
	Merchant Wholesalers, Nondurable Goods - 0.26%
95,000	NewAge, Inc. (a)	181,450
		181,450
	Mining (except Oil and Gas) - 0.54%
49,000	Fortitude Gold Corp.	377,790
		377,790
	Miscellaneous Manufacturing - 0.51%
24,209	iCAD, Inc. (a)	354,904
		354,904
	Motion Pictures and Sound Recording Industries - 1.38%
457,605	WildBrain Ltd. (a)(c)	965,547
		965,547
	Oil & Gas - 1.12%
185,766	Evolution Petroleum Corp.	783,932
		783,932
	Oil & Gas Services - 0.57%
371,895	Profire Energy, Inc. (a)	397,928
		397,928
	Primary Metal Manufacturing - 0.71%
80,000	Ampco-Pittsburgh Corp. (a)	498,400
		498,400
	Professional, Scientific, and Technical Services - 3.66%
38,703	Bowman Consulting Group Ltd. (a)	494,237
8,500	CRA International, Inc.	728,705
230,880	Heritage Global, Inc. (a)	464,069
328,400	Research Solutions Inc. (a)	876,828
		2,563,839
	Publishing Industries (except Internet) - 0.67%
40,000	eGain Corp. (a)	466,800
		466,800
	Securities, Commodity Contracts, and Other Financial Investments and Related Activities - 0.52%
10,000	SPROTT, Inc. (c)	368,000
		368,000

	Semiconductor Related Products - 3.19%
80,000	AXT, Inc. (a)		816,000
55,000	DSP Group, Inc. (a)		882,750
40,000	Photronics, Inc. (a)		534,800
			2,233,550
	Software - 4.37%
21,720	American Software, Inc. - Class A		477,840
100,000	Asure Software, Inc. (a)		942,000
120,000	Immersion Corp. (a)		907,200
100,000	Zix Corp. (a)		741,000
			3,068,040
	Specialty Manufacturing - 2.03%
20,000	LB Foster Co. - Class A (a)		363,200
40,000	LSI Industries, Inc.		301,200
23,000	Manitex International, Inc. (a)		183,540
20,223	Northwest Pipe Co. (a)		574,535
			1,422,475
	Support Activities for Mining - 0.32%
100,000	Alexco Resource Corp. (a)(c)		222,000
			222,000
	Telecommunications - 3.20%
150,000	Ceragon Networks, Ltd. (a)(c)		600,000
34,000	Digi International, Inc. (a)		703,120
142,000	PC-Tel, Inc.		944,300
			2,247,420
	Transportation - 3.31%
373,000	Radiant Logistics, Inc. (a)		2,320,060
			2,320,060
	Transportation Equipment Manufacturing - 3.65%
60,000	Shyft Group Inc/The		2,366,400
4,708	Strattec Security Corp. (a)		193,875
			2,560,275
	Utilities - 1.10%
50,000	Pure Cycle Corp. (a)		773,000
			773,000
	Waste Management & Remediation Services - 0.77%
94,222	Perma-Fix Environmental Services, Inc. (a)		539,892
			539,892
	TOTAL COMMON STOCKS (Cost $42,168,139)		69,557,349
	SHORT-TERM INVESTMENTS  - 1.03%
	Money Market Funds - 1.03%
724,954	First American Government Obligations Fund, Class X, 0.03% (b)		724,954
	TOTAL SHORT-TERM INVESTMENTS (Cost $724,954)		724,954
	Total Investments (Cost $42,893,093) - 100.22%		70,282,303
	Liabilities in Excess of Other Assets - (0.22)%		(156,329	)
	TOTAL NET ASSETS - 100.00%	$	70,125,974

Percentages are stated as a percent of net assets.

(a)	Non-income producing security.
(b)	The rate shown is the seven-day yield as of July 31, 2021.
(c)	Foreign issued security.

NPORT-EX

Perritt Funds, Inc.
Notes to the Schedule of Investments (Unaudited)	July 31, 2021
1. Security Valuation
Exchange-listed securities are generally valued at the last sales price reported by the principal security exchange on which the issue is traded, or if no sale
is reported, the mean between the latest bid and ask price unless the Funds' investment advisor believes that the mean does not represent a fair value, in
which case the securities are valued as set forth below. Securities listed on NASDAQ are valued at the NASDAQ Official Closing Price. Demand notes,
commercial paper, U.S. Treasury Bills and warrants are stated at fair value using market prices if available, or a pricing service when such prices are
believed to reflect fair value. Securities for which market quotations are not readily available are valued at their fair value as determined in good faith by
the Funds' advisor under procedures established by and under the supervision of the Board of Directors of the Fund. The Funds' fair value procedures allow
for the use of certain methods performed by the Funds' advisor to value those securities for which market quotations are not readily available, at a price
that a Fund might reasonably expect to receive upon a sale of such securities. For example, these methods may be based on a multiple of earnings, or a discount
from market of a similarly freely traded security, or a yield to maturity with respect to debt issues, or a combination of these and other methods.
The Funds' may invest in warrants or rights (other than those acquired in units or attached to other securities), which entitle the purchaser to buy
equity securities at a specific price for a specific period of time.  Warrants and rights have no voting rights, receive no dividends and have no rights with
respect to the assets of the issuer.
General Accepted Accounting Principles ("GAAP") establishes an authoritative definition of fair value and sets out a hierarchy for measuring fair value.
GAAP also requires additional disclosures about the various inputs used to develop the measurements of fair value.  These inputs are summarized in the
three broad 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 Funds' 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' securities as of July 31, 2021:

Perritt MicroCap Opportunities Fund
Description	Level 1		Level 2		Level 3		Total
Investments in Securities
Common Stocks
Communication Services	$	1,971,397	$	-	$	-	$	1,971,397
Consumer Discretionary		8,299,671		-		-		8,299,671
Consumer Staples		564,350		-		-		564,350
Energy		1,181,860		-		-		1,181,860
Financials		9,873,366		-		-		9,873,366
Health Care		3,256,340		-		-		3,256,340
Industrials		21,513,997		-		-		21,513,997
Information Technology		15,871,523		-		-		15,871,523
Materials		6,251,845		-		-		6,251,845
Utilities		773,000		-		-		773,000
Total Common Stocks		69,557,349		-		-		69,557,349
Short Term Investments		724,954		-		-		724,954
Total Investments in Securities	$	70,282,303	$	-	$	-	$	70,282,303
Perritt Ultra MicroCap Fund
Description	Level 1		Level 2		Level 3		Total
Investments in Securities
Common Stocks
Communication Services	$	922,070	$	-	$	-	$	922,070
Consumer Discretionary		1,349,500		266,000		-		1,615,500
Consumer Staples		501,040		-		-		501,040
Energy		379,611		-		-		379,611
Financials		1,283,400		-		-		1,283,400
Health Care		2,011,372		-		-		2,011,372
Industrials		4,265,277		-		-		4,265,277
Information Technology		6,083,944		204,000		-		6,287,944
Materials		1,315,698		-		-		1,315,698
Real Estate Investment Trusts		510,544		-		-		510,544
Utilities		352,400		-		-		352,400
Total Common Stocks		18,974,856		470,000		-		19,444,856
Warrants
Health Care		-		0		-		0
Materials		15,450		-		-		15,450
Total Warrants		15,450		-		-		15,450
Short Term Investments		325,425		-		-		325,425
Total Investments in Securities	$	19,315,731	$	470,000	$	-	$	19,785,731
During the nine months ended July 31, 2021, the Microcap Fund and the Ultra Microcap Fund did not hold any Level 3 securities.