Capital Investment Management

Gerald Perritt is the firm's founder and Chief Investment Officer. He has overseen the investment process since the firm's launch in 1992. The research and portfolio management team is small, consistent with a boutique manager focused on micro-cap equities. Day-to-day decisions are made internally by Perritt and his analysts rather than outsourced to sub-advisers.

The firm specializes in US micro-cap and small-cap equities, particularly companies with market capitalizations below $500 million. It manages the Perritt MicroCap Opportunities Fund and the Perritt Ultra MicroCap Fund. The process blends quantitative screening with bottom-up fundamental analysis, seeking companies trading at meaningful discounts to private-market valuations. The strategy is long-only and does not employ leverage or derivatives extensively.

Because micro-cap companies attract limited sell-side research coverage, the firm relies on proprietary screens and direct company engagement. The investment team combs through regulatory filings, screens for valuation and balance-sheet strength, and speaks directly with management teams at portfolio candidates. This hands-on approach is necessary in a market segment where broker coverage is sparse.

The firm operates at least two mutual funds — the Perritt MicroCap Opportunities Fund and the Perritt Ultra MicroCap Fund — and may offer separately managed accounts to institutional or high-net-worth clients. Its SEC registration permits discretionary management of individual portfolios, but public detail on separate-account mandates is limited.

Capital Investment Management is a traditional registered investment adviser, not a family office. It manages pooled investment vehicles for external clients. There is no public connection to a single-family fortune or multi-generational wealth origin.

The firm does not participate in co-investment structures alongside private equity or venture capital GPs. Its mandate is strictly limited to publicly traded equities, primarily micro-cap and small-cap US stocks. There is no public record of direct private-company co-investments or club deals.

The firm does not publicly disclose assets under management on its website or in widely distributed materials. Based on the micro-cap focus and the size of its mutual funds, operational assets are estimated in the range of $50 million to $200 million (Altss estimate). The team is small, with all investment functions centralized in Coral Gables, Florida.