Important Disclosure Information

Portfolio holdings are subject to change without notice. There can be no assurance that securities held as of the date shown below will be included in any Royce-managed portfolio in the future.

Unlike the Fund's regulatory filings, the portfolio data may not conform to Securities and Exchange Commission (SEC) presentation requirements. Therefore, it may differ from the schedule
of investments in the Fund's annual and semiannual reports to shareholders, which are available at royceinvest.com/literature and are also filed with the SEC on Form N-CSR.
This presentation may also differ from the schedule of investments provided in the first and third quarter SEC Form N-PORT Exhibit F filings.

See "Notes to Financial Statements" in the Fund's most recent annual or semiannual report to shareholders for information about how the Fund values its portfolio securities.

Investors should carefully consider the investment goals, risks, fees, and expenses of the Funds before investing. Please read the prospectus carefully before investing.

For additional information, you may view Exhibit F to Form N-PORT (Quarterly Fund Holdings report) filed by each Fund at http://www.sec.gov.

Royce Small-Cap Fund

Holdings as of: 12/31/25

Download Holdings

#	Ticker	Asset Type	Sector	Industry	Name	Shares/ Principal	Price	% of Assets	Market Value
1		Repurchase Agreement			Fixed Income Clearing Corporation	51198690	$100.00	2.89%	$51,198,689.79
2	ACA	Common Stock	Industrials	Construction & Engineering	Arcosa	383649	$106.32	2.30%	$40,789,561.68
3	AGO	Common Stock	Financials	Insurance	Assured Guaranty	291135	$89.87	1.48%	$26,164,302.45
4	ESI	Common Stock	Materials	Chemicals	Element Solutions	1015248	$24.99	1.43%	$25,371,047.52
5	CRUS	Common Stock	Information Technology	Semiconductors & Semiconductor Equipment	Cirrus Logic	193562	$118.50	1.29%	$22,937,097.00
6	SEIC	Common Stock	Financials	Capital Markets	SEI Investments	274408	$82.02	1.27%	$22,506,944.16
7	ELF CN	Common Stock	Financials	Insurance	E-L Financial	1858114	$11.85	1.24%	$22,025,802.18
8	ESAB	Common Stock	Industrials	Machinery	ESAB Corporation	193099	$111.72	1.22%	$21,573,020.28
9	JBTM	Common Stock	Industrials	Machinery	JBT Marel	121721	$150.67	1.04%	$18,339,703.07
10	KWR	Common Stock	Materials	Chemicals	Quaker Houghton	133324	$137.31	1.03%	$18,306,718.44
11	IGIC	Common Stock	Financials	Insurance	International General Insurance Holdings	694138	$25.09	0.98%	$17,415,922.42
12	NPO	Common Stock	Industrials	Machinery	Enpro	81200	$214.13	0.98%	$17,387,356.00
13	RBC	Common Stock	Industrials	Machinery	RBC Bearings	37789	$448.43	0.96%	$16,945,721.27
14	X CN	Common Stock	Financials	Capital Markets	TMX Group	444202	$38.05	0.95%	$16,903,333.55
15	SII CN	Common Stock	Financials	Capital Markets	Sprott	169337	$97.95	0.94%	$16,586,402.16
16	AGI CN	Common Stock	Materials	Metals & Mining	Alamos Gold Cl. A	424328	$38.61	0.92%	$16,385,110.92
17	VNT	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	Vontier Corporation	437035	$37.18	0.92%	$16,248,961.30
18	DORM	Common Stock	Consumer Discretionary	Automobile Components	Dorman Products	124212	$123.19	0.86%	$15,301,676.28
19	SJ CN	Common Stock	Materials	Paper & Forest Products	Stella-Jones	244990	$62.02	0.86%	$15,195,073.91
20	IMAX	Common Stock	Communication Services	Entertainment	IMAX Corporation	406039	$36.96	0.85%	$15,007,201.44
21	ONTO	Common Stock	Information Technology	Semiconductors & Semiconductor Equipment	Onto Innovation	94227	$157.86	0.84%	$14,874,674.22
22	APAM	Common Stock	Financials	Capital Markets	Artisan Partners Asset Management Cl. A	355313	$40.74	0.82%	$14,475,451.62
23	ATMU	Common Stock	Industrials	Machinery	Atmus Filtration Technologies	273412	$51.91	0.80%	$14,192,816.92
24	KAI	Common Stock	Industrials	Machinery	Kadant	49167	$285.02	0.79%	$14,013,578.34
25	KBR	Common Stock	Industrials	Professional Services	KBR	343396	$40.20	0.78%	$13,804,519.20
26	VMI	Common Stock	Industrials	Construction & Engineering	Valmont Industries	33812	$402.32	0.77%	$13,603,243.84
27	PLPC	Common Stock	Industrials	Electrical Equipment	Preformed Line Products	65721	$206.71	0.77%	$13,585,187.91
28	ONEX CN	Common Stock	Financials	Capital Markets	Onex Corporation	164237	$82.30	0.76%	$13,516,601.60
29	NVMI	Common Stock	Information Technology	Semiconductors & Semiconductor Equipment	Nova	40750	$328.39	0.76%	$13,381,892.50
30	BPOP	Common Stock	Financials	Banks	Popular	107297	$124.52	0.75%	$13,360,622.44
31	TMDX	Common Stock	Health Care	Health Care Equipment & Supplies	TransMedics Group	109460	$121.65	0.75%	$13,315,809.00
32	MKSI	Common Stock	Information Technology	Semiconductors & Semiconductor Equipment	MKS	82853	$159.80	0.75%	$13,239,909.40
33	LECO	Common Stock	Industrials	Machinery	Lincoln Electric Holdings	54999	$239.64	0.74%	$13,179,960.36
34	ASO	Common Stock	Consumer Discretionary	Specialty Retail	Academy Sports & Outdoors	253645	$49.96	0.72%	$12,672,104.20
35	LCII	Common Stock	Consumer Discretionary	Automobile Components	LCI Industries	103658	$121.34	0.71%	$12,577,861.72
36	MHO	Common Stock	Consumer Discretionary	Household Durables	M/I Homes	96542	$127.95	0.70%	$12,352,548.90
37	IPAR	Common Stock	Consumer Staples	Personal Care Products	Interparfums	144473	$84.83	0.69%	$12,255,644.59
38	CPRX	Common Stock	Health Care	Biotechnology	Catalyst Pharmaceuticals	517192	$23.34	0.68%	$12,071,261.28
39	NGVT	Common Stock	Materials	Chemicals	Ingevity Corporation	199694	$59.18	0.67%	$11,817,890.92
40	ROAD	Common Stock	Industrials	Construction & Engineering	Construction Partners Cl. A	106429	$108.55	0.65%	$11,552,867.95
41	AIT	Common Stock	Industrials	Trading Companies & Distributors	Applied Industrial Technologies	43882	$256.77	0.64%	$11,267,581.14
42	AGYS	Common Stock	Information Technology	Software	Agilysys	94589	$118.84	0.63%	$11,240,956.76
43	DGII	Common Stock	Information Technology	Communications Equipment	Digi International	258206	$43.29	0.63%	$11,177,737.74
44	PAR	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	PAR Technology	303758	$36.28	0.62%	$11,020,340.24
45	FORM	Common Stock	Information Technology	Semiconductors & Semiconductor Equipment	FormFactor	195759	$55.78	0.62%	$10,919,437.02
46	LFUS	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	Littelfuse	42410	$252.92	0.61%	$10,726,337.20
47	RGEN	Common Stock	Health Care	Life Sciences Tools & Services	Repligen Corporation	63968	$163.86	0.59%	$10,481,796.48
48	PSI CN	Common Stock	Energy	Energy Equipment & Services	Pason Systems	1199015	$8.74	0.59%	$10,474,073.69
49	KFY	Common Stock	Industrials	Professional Services	Korn Ferry	157667	$66.02	0.59%	$10,409,175.34
50	ABG	Common Stock	Consumer Discretionary	Specialty Retail	Asbury Automotive Group	44759	$232.53	0.59%	$10,407,810.27
51	GHM	Common Stock	Industrials	Machinery	Graham Corporation	160345	$64.23	0.58%	$10,298,959.35
52	ADMA	Common Stock	Health Care	Biotechnology	ADMA Biologics	561984	$18.24	0.58%	$10,250,588.16
53	KD	Common Stock	Information Technology	IT Services	Kyndryl Holdings	385738	$26.56	0.58%	$10,245,201.28
54	UFPI	Common Stock	Industrials	Building Products	UFP Industries	111632	$91.05	0.57%	$10,164,093.60
55	ESE	Common Stock	Industrials	Machinery	ESCO Technologies	51295	$195.39	0.57%	$10,022,530.05
56	CGNX	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	Cognex Corporation	277320	$35.98	0.56%	$9,977,973.60
57	BRC	Common Stock	Industrials	Commercial Services & Supplies	Brady Corporation Cl. A	125779	$78.37	0.56%	$9,857,300.23
58	VVV	Common Stock	Consumer Discretionary	Specialty Retail	Valvoline	338053	$29.06	0.55%	$9,823,820.18
59	GCMG	Common Stock	Financials	Capital Markets	GCM Grosvenor Cl. A	854408	$11.32	0.55%	$9,671,898.56
60	VC	Common Stock	Consumer Discretionary	Automobile Components	Visteon Corporation	101599	$95.10	0.55%	$9,662,064.90
61	IESC	Common Stock	Industrials	Construction & Engineering	IES Holdings	24754	$389.02	0.54%	$9,629,801.08
62	MRX	Common Stock	Financials	Capital Markets	Marex Group	246281	$38.36	0.53%	$9,447,339.16
63	MTX	Common Stock	Materials	Chemicals	Minerals Technologies	154907	$60.95	0.53%	$9,441,581.65
64	HCKT	Common Stock	Information Technology	IT Services	Hackett Group (The)	477681	$19.63	0.53%	$9,376,878.03
65	NTB	Common Stock	Financials	Banks	Bank of N.T. Butterfield & Son	188155	$49.82	0.53%	$9,373,882.10
66	AL	Common Stock	Industrials	Trading Companies & Distributors	Air Lease Cl. A	142808	$64.23	0.52%	$9,172,557.84
67	SSD	Common Stock	Industrials	Building Products	Simpson Manufacturing	55863	$161.47	0.51%	$9,020,198.61
68	AAON	Common Stock	Industrials	Building Products	AAON	115526	$76.25	0.50%	$8,808,857.50
69	HUBG	Common Stock	Industrials	Air Freight & Logistics	Hub Group Cl. A	205509	$42.61	0.49%	$8,756,738.49
70	WRB	Common Stock	Financials	Insurance	Berkley (W.R.)	124251	$70.12	0.49%	$8,712,480.12
71	EVI	Common Stock	Industrials	Trading Companies & Distributors	EVI Industries	350293	$24.64	0.49%	$8,631,219.52
72	PI	Common Stock	Information Technology	Semiconductors & Semiconductor Equipment	Impinj	49151	$174.01	0.48%	$8,552,765.51
73	EXPO	Common Stock	Industrials	Professional Services	Exponent	121625	$69.46	0.48%	$8,448,072.50
74	SAIA	Common Stock	Industrials	Ground Transportation	Saia	25725	$326.52	0.47%	$8,399,727.00
75	KEX	Common Stock	Industrials	Marine Transportation	Kirby Corporation	75196	$110.18	0.47%	$8,285,095.28
76	LSTR	Common Stock	Industrials	Ground Transportation	Landstar System	56121	$143.70	0.46%	$8,064,587.70
77	BBIO	Common Stock	Health Care	Biotechnology	BridgeBio Pharma	104260	$76.49	0.45%	$7,974,847.40
78	AAP	Common Stock	Consumer Discretionary	Specialty Retail	Advance Auto Parts	197793	$39.30	0.44%	$7,773,264.90
79	OBK	Common Stock	Financials	Banks	Origin Bancorp	201631	$37.61	0.43%	$7,583,341.91
80	MOD	Common Stock	Consumer Discretionary	Automobile Components	Modine Manufacturing	56720	$133.51	0.43%	$7,572,687.20
81	BLDR	Common Stock	Industrials	Building Products	Builders FirstSource	72073	$102.89	0.42%	$7,415,590.97
82	TTMI	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	TTM Technologies	105750	$69.00	0.41%	$7,296,750.00
83	FCFS	Common Stock	Financials	Consumer Finance	FirstCash Holdings	45595	$159.38	0.41%	$7,266,931.10
84	MORN	Common Stock	Financials	Capital Markets	Morningstar	33306	$217.31	0.41%	$7,237,726.86
85	WDFC	Common Stock	Consumer Staples	Household Products	WD-40 Company	36730	$196.90	0.41%	$7,232,137.00
86	RLI	Common Stock	Financials	Insurance	RLI Corp.	112921	$63.98	0.41%	$7,224,685.58
87	SITM	Common Stock	Information Technology	Semiconductors & Semiconductor Equipment	SiTime Corporation	20361	$353.19	0.41%	$7,191,301.59
88	IOSP	Common Stock	Materials	Chemicals	Innospec	93086	$76.54	0.40%	$7,124,802.44
89	HCSG	Common Stock	Industrials	Commercial Services & Supplies	Healthcare Services Group	367254	$19.12	0.40%	$7,021,896.48
90	TRNS	Common Stock	Industrials	Trading Companies & Distributors	Transcat	119185	$56.73	0.38%	$6,761,365.05
91	NSP	Common Stock	Industrials	Professional Services	Insperity	172989	$38.72	0.38%	$6,698,134.08
92	CECO	Common Stock	Industrials	Commercial Services & Supplies	CECO Environmental	110425	$59.85	0.37%	$6,608,936.25
93	BC	Common Stock	Consumer Discretionary	Leisure Products	Brunswick Corporation	87072	$74.24	0.36%	$6,464,225.28
94	LASR	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	nLIGHT	171261	$37.51	0.36%	$6,424,000.11
95	CBZ	Common Stock	Industrials	Professional Services	CBIZ	126964	$50.45	0.36%	$6,405,333.80
96	BKU	Common Stock	Financials	Banks	BankUnited	142238	$44.57	0.36%	$6,339,547.66
97	CAMT	Common Stock	Information Technology	Semiconductors & Semiconductor Equipment	Camtek	59528	$106.35	0.36%	$6,330,505.16
98	TECH	Common Stock	Health Care	Life Sciences Tools & Services	Bio-Techne	107101	$58.81	0.36%	$6,298,609.81
99	LNN	Common Stock	Industrials	Machinery	Lindsay Corporation	52639	$117.87	0.35%	$6,204,558.93
100	COHU	Common Stock	Information Technology	Semiconductors & Semiconductor Equipment	Cohu	262000	$23.27	0.34%	$6,096,740.00
101	CMG CN	Common Stock	Information Technology	Software	Computer Modelling Group	1589433	$3.80	0.34%	$6,044,836.44
102	LGN	Common Stock	Industrials	Building Products	Legence Corp. Cl. A	139984	$43.04	0.34%	$6,024,911.36
103	DBD	Common Stock	Information Technology	Technology Hardware, Storage & Peripherals	Diebold Nixdorf	86944	$67.89	0.33%	$5,902,628.16
104	NVST	Common Stock	Health Care	Health Care Equipment & Supplies	Envista Holdings	267497	$21.71	0.33%	$5,807,359.87
105	TSEM	Common Stock	Information Technology	Semiconductors & Semiconductor Equipment	Tower Semiconductor	49172	$117.42	0.33%	$5,773,776.24
106	CENX	Common Stock	Materials	Metals & Mining	Century Aluminum	144052	$39.18	0.32%	$5,643,957.36
107	ESTA	Common Stock	Health Care	Health Care Equipment & Supplies	Establishment Labs Holdings	76762	$72.88	0.32%	$5,594,414.56
108	LAZ	Common Stock	Financials	Capital Markets	Lazard	114302	$48.56	0.31%	$5,550,505.12
109	RNR	Common Stock	Financials	Insurance	RenaissanceRe Holdings	19655	$281.16	0.31%	$5,526,199.80
110	YETI	Common Stock	Consumer Discretionary	Leisure Products	YETI Holdings	124092	$44.17	0.31%	$5,481,143.64
111	IBEX	Common Stock	Industrials	Professional Services	IBEX	143289	$38.18	0.31%	$5,470,774.02
112	MATX	Common Stock	Industrials	Marine Transportation	Matson	44141	$123.55	0.31%	$5,453,620.55
113	FROG	Common Stock	Information Technology	Software	JFrog	84926	$62.46	0.30%	$5,304,477.96
114	ENOV	Common Stock	Health Care	Health Care Equipment & Supplies	Enovis Corporation	199041	$26.64	0.30%	$5,302,452.24
115	AGX	Common Stock	Industrials	Construction & Engineering	Argan	16685	$313.32	0.30%	$5,227,744.20
116	TILE	Common Stock	Industrials	Commercial Services & Supplies	Interface	186093	$27.92	0.29%	$5,195,716.56
117	HIFS	Common Stock	Financials	Banks	Hingham Institution for Savings	18269	$283.96	0.29%	$5,187,665.24
118	ELAN	Common Stock	Health Care	Pharmaceuticals	Elanco Animal Health	226471	$22.63	0.29%	$5,125,038.73
119	COLL	Common Stock	Health Care	Pharmaceuticals	Collegium Pharmaceutical	110395	$46.30	0.29%	$5,111,288.50
120	CXT	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	Crane NXT	108549	$47.07	0.29%	$5,109,401.43
121	MBIN	Common Stock	Financials	Financial Services	Merchants Bancorp	149847	$34.06	0.29%	$5,103,788.82
122	INDV	Common Stock	Health Care	Pharmaceuticals	Indivior	141096	$35.88	0.29%	$5,062,524.48
123	DFIN	Common Stock	Financials	Capital Markets	Donnelley Financial Solutions	108280	$46.69	0.29%	$5,055,593.20
124	KLIC	Common Stock	Information Technology	Semiconductors & Semiconductor Equipment	Kulicke & Soffa Industries	108212	$45.56	0.28%	$4,930,138.72
125	HOMB	Common Stock	Financials	Banks	Home BancShares	174614	$27.78	0.27%	$4,850,776.92
126	NOMD	Common Stock	Consumer Staples	Food Products	Nomad Foods	383891	$12.51	0.27%	$4,802,476.41
127	WCC	Common Stock	Industrials	Trading Companies & Distributors	WESCO International	19525	$244.64	0.27%	$4,776,596.00
128	BOKF	Common Stock	Financials	Banks	BOK Financial	40236	$118.46	0.27%	$4,766,356.56
129	INSM	Common Stock	Health Care	Biotechnology	Insmed	27317	$174.04	0.27%	$4,754,250.68
130	SLGN	Common Stock	Materials	Containers & Packaging	Silgan Holdings	117607	$40.37	0.27%	$4,747,794.59
131	AMPH	Common Stock	Health Care	Pharmaceuticals	Amphastar Pharmaceuticals	176524	$26.78	0.27%	$4,727,312.72
132	TNK	Common Stock	Energy	Oil, Gas & Consumable Fuels	Teekay Tankers Cl. A	87803	$53.42	0.26%	$4,690,436.26
133	MOH	Common Stock	Health Care	Health Care Providers & Services	Molina Healthcare	26970	$173.54	0.26%	$4,680,373.80
134	LEA	Common Stock	Consumer Discretionary	Automobile Components	Lear Corporation	40696	$114.60	0.26%	$4,663,761.60
135	CIGI US	Common Stock	Real Estate	Real Estate Management & Development	Colliers International Group	31615	$147.01	0.26%	$4,647,721.15
136	PACS	Common Stock	Health Care	Health Care Providers & Services	PACS Group	120479	$38.39	0.26%	$4,625,188.81
137	UFCS	Common Stock	Financials	Insurance	United Fire Group	126324	$36.35	0.26%	$4,591,877.40
138	TKR	Common Stock	Industrials	Machinery	Timken Company (The)	54332	$84.13	0.26%	$4,570,951.16
139	STVN	Common Stock	Health Care	Life Sciences Tools & Services	Stevanato Group	226096	$20.12	0.26%	$4,549,051.52
140	ALSN	Common Stock	Industrials	Machinery	Allison Transmission Holdings	46411	$97.90	0.26%	$4,543,636.90
141	WS	Common Stock	Materials	Metals & Mining	Worthington Steel	131068	$34.62	0.26%	$4,537,574.16
142	KW	Common Stock	Real Estate	Real Estate Management & Development	Kennedy-Wilson Holdings	469068	$9.67	0.26%	$4,535,887.56
143	JJSF	Common Stock	Consumer Staples	Food Products	J&J Snack Foods	49798	$90.37	0.25%	$4,500,245.26
144	AXSM	Common Stock	Health Care	Pharmaceuticals	Axsome Therapeutics	24639	$182.64	0.25%	$4,500,066.96
145	SNX	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	TD SYNNEX	29839	$150.23	0.25%	$4,482,712.97
146	CIVB	Common Stock	Financials	Banks	Civista Bancshares	199297	$22.22	0.25%	$4,428,379.34
147	ACT	Common Stock	Financials	Financial Services	Enact Holdings	111669	$39.64	0.25%	$4,426,559.16
148	TSBK	Common Stock	Financials	Banks	Timberland Bancorp	122859	$35.80	0.25%	$4,398,352.20
149	OCFC	Common Stock	Financials	Banks	OceanFirst Financial	244612	$17.95	0.25%	$4,390,785.40
150	SNEX	Common Stock	Financials	Capital Markets	StoneX Group	45881	$95.13	0.25%	$4,364,659.53
151	BFST	Common Stock	Financials	Banks	Business First Bancshares	166007	$26.14	0.24%	$4,339,422.98
152	SIG	Common Stock	Consumer Discretionary	Specialty Retail	Signet Jewelers	52347	$82.88	0.24%	$4,338,519.36
153	RS	Common Stock	Materials	Metals & Mining	Reliance	14973	$288.87	0.24%	$4,325,250.51
154	BLBD	Common Stock	Industrials	Machinery	Blue Bird	91204	$47.00	0.24%	$4,286,588.00
155	MSM	Common Stock	Industrials	Trading Companies & Distributors	MSC Industrial Direct Cl. A	50937	$84.10	0.24%	$4,283,801.70
156	CYTK	Common Stock	Health Care	Biotechnology	Cytokinetics	66183	$63.54	0.24%	$4,205,267.82
157	HRMY	Common Stock	Health Care	Pharmaceuticals	Harmony Biosciences Holdings	112221	$37.42	0.24%	$4,199,309.82
158	PLAB	Common Stock	Information Technology	Semiconductors & Semiconductor Equipment	Photronics	130787	$32.00	0.24%	$4,185,184.00
159	BYD	Common Stock	Consumer Discretionary	Hotels, Restaurants & Leisure	Boyd Gaming	48859	$85.24	0.24%	$4,164,741.16
160	CNTA	Common Stock	Health Care	Biotechnology	Centessa Pharmaceuticals ADR	166309	$25.01	0.23%	$4,159,388.09
161	MTDR	Common Stock	Energy	Oil, Gas & Consumable Fuels	Matador Resources	97780	$42.44	0.23%	$4,149,783.20
162	AMSF	Common Stock	Financials	Insurance	AMERISAFE	107991	$38.41	0.23%	$4,147,934.31
163	AMRC	Common Stock	Industrials	Construction & Engineering	Ameresco Cl. A	141359	$29.29	0.23%	$4,140,405.11
164	FRBA	Common Stock	Financials	Banks	First Bank	250887	$16.46	0.23%	$4,129,600.02
165	FIHL	Common Stock	Financials	Insurance	Fidelis Insurance Holdings	209283	$19.57	0.23%	$4,095,668.31
166	CHRD	Common Stock	Energy	Oil, Gas & Consumable Fuels	Chord Energy	44165	$92.70	0.23%	$4,094,095.50
167	WD	Common Stock	Financials	Financial Services	Walker & Dunlop	67983	$60.15	0.23%	$4,089,177.45
168	SCVL	Common Stock	Consumer Discretionary	Specialty Retail	Shoe Carnival	241548	$16.88	0.23%	$4,077,330.24
169	GNK	Common Stock	Industrials	Marine Transportation	Genco Shipping & Trading	220786	$18.43	0.23%	$4,069,085.98
170	SM	Common Stock	Energy	Oil, Gas & Consumable Fuels	SM Energy	217179	$18.70	0.23%	$4,061,247.30
171	KN	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	Knowles Corporation	189242	$21.43	0.23%	$4,055,456.06
172	BBT	Common Stock	Financials	Banks	Beacon Financial	152706	$26.37	0.23%	$4,026,857.22
173	EVR	Common Stock	Financials	Capital Markets	Evercore Cl. A	11813	$340.25	0.23%	$4,019,373.25
174	AIOT	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	Powerfleet	751408	$5.32	0.23%	$3,997,490.56
175	INVA	Common Stock	Health Care	Pharmaceuticals	Innoviva	199190	$19.99	0.22%	$3,981,808.10
176	JILL	Common Stock	Consumer Discretionary	Specialty Retail	J.Jill	289304	$13.72	0.22%	$3,969,250.88
177	FRPH	Common Stock	Real Estate	Real Estate Management & Development	FRP Holdings	170323	$22.79	0.22%	$3,881,661.17
178	TIPT	Common Stock	Financials	Insurance	Tiptree	211633	$18.27	0.22%	$3,866,534.91
179	BRSL	Common Stock	Consumer Discretionary	Hotels, Restaurants & Leisure	Brightstar Lottery	248767	$15.48	0.22%	$3,850,913.16
180	TMHC	Common Stock	Consumer Discretionary	Household Durables	Taylor Morrison Home	65253	$58.87	0.22%	$3,841,444.11
181	FSV US	Common Stock	Real Estate	Real Estate Management & Development	FirstService Corporation	24533	$155.53	0.22%	$3,815,617.49
182	ICHR	Common Stock	Information Technology	Semiconductors & Semiconductor Equipment	Ichor Holdings	204275	$18.43	0.21%	$3,764,788.25
183	MLR	Common Stock	Industrials	Machinery	Miller Industries	100457	$37.37	0.21%	$3,754,078.09
184	COHR	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	Coherent Corp.	20138	$184.57	0.21%	$3,716,870.66
185	MIAX	Common Stock	Financials	Capital Markets	Miami International Holdings	83058	$44.38	0.21%	$3,686,114.04
186	GPK	Common Stock	Materials	Containers & Packaging	Graphic Packaging Holding Company	244595	$15.06	0.21%	$3,683,600.70
187	CCNE	Common Stock	Financials	Banks	CNB Financial	139548	$26.17	0.21%	$3,651,971.16
188	IBP	Common Stock	Consumer Discretionary	Household Durables	Installed Building Products	14059	$259.39	0.21%	$3,646,764.01
189	PHM	Common Stock	Consumer Discretionary	Household Durables	PulteGroup	30743	$117.26	0.20%	$3,604,924.18
190	SANM	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	Sanmina Corporation	22691	$150.07	0.19%	$3,405,238.37
191	SUPN	Common Stock	Health Care	Pharmaceuticals	Supernus Pharmaceuticals	68315	$49.70	0.19%	$3,395,255.50
192	FTDR	Common Stock	Consumer Discretionary	Diversified Consumer Services	frontdoor	57275	$57.69	0.19%	$3,304,194.75
193	ETD	Common Stock	Consumer Discretionary	Household Durables	Ethan Allen Interiors	142448	$22.84	0.18%	$3,253,512.32
194	TDY	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	Teledyne Technologies	6340	$510.73	0.18%	$3,238,028.20
195	HLIO	Common Stock	Industrials	Machinery	Helios Technologies	59852	$53.49	0.18%	$3,201,483.48
196	PLUS	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	ePlus	35362	$87.70	0.18%	$3,101,247.40
197	SMTC	Common Stock	Information Technology	Semiconductors & Semiconductor Equipment	Semtech Corporation	42067	$73.69	0.17%	$3,099,917.23
198	ORIC	Common Stock	Health Care	Biotechnology	ORIC Pharmaceuticals	378058	$8.18	0.17%	$3,092,514.44
199	VCTR	Common Stock	Financials	Capital Markets	Victory Capital Holdings Cl. A	47900	$63.09	0.17%	$3,022,011.00
200	FTAI	Common Stock	Industrials	Trading Companies & Distributors	FTAI Aviation	15268	$196.85	0.17%	$3,005,505.80
201	ESPR	Common Stock	Health Care	Pharmaceuticals	Esperion Therapeutics	795830	$3.70	0.17%	$2,944,571.00
202	DSGR	Common Stock	Industrials	Trading Companies & Distributors	Distribution Solutions Group	106672	$27.39	0.16%	$2,921,746.08
203	FLEX	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	Flex	48191	$60.42	0.16%	$2,911,700.22
204	SKY	Common Stock	Consumer Discretionary	Household Durables	Champion Homes	34270	$84.50	0.16%	$2,895,815.00
205	SKWD	Common Stock	Financials	Insurance	Skyward Specialty Insurance Group	56065	$51.11	0.16%	$2,865,482.15
206	PTCT	Common Stock	Health Care	Biotechnology	PTC Therapeutics	36848	$75.96	0.16%	$2,798,974.08
207	CMC	Common Stock	Materials	Metals & Mining	Commercial Metals	39806	$69.22	0.16%	$2,755,371.32
208	SLNO	Common Stock	Health Care	Biotechnology	Soleno Therapeutics	59196	$46.30	0.15%	$2,740,774.80
209	MIR	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	Mirion Technologies Cl. A	113643	$23.42	0.15%	$2,661,519.06
210	AMSC	Common Stock	Industrials	Electrical Equipment	American Superconductor	92177	$28.78	0.15%	$2,652,854.06
211	MDI CN	Common Stock	Materials	Metals & Mining	Major Drilling Group International	281491	$9.40	0.15%	$2,645,611.38
212	RBA	Common Stock	Industrials	Commercial Services & Supplies	RB Global	25600	$102.87	0.15%	$2,633,472.00
213	WGS	Common Stock	Health Care	Health Care Providers & Services	GeneDx Holdings Cl. A	20127	$130.06	0.15%	$2,617,717.62
214	JBL	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	Jabil	11111	$228.02	0.14%	$2,533,530.22
215	BV	Common Stock	Industrials	Commercial Services & Supplies	BrightView Holdings	197651	$12.67	0.14%	$2,504,238.17
216	LMB	Common Stock	Industrials	Construction & Engineering	Limbach Holdings	31534	$77.85	0.14%	$2,454,921.90
217	WFRD	Common Stock	Energy	Energy Equipment & Services	Weatherford International	30772	$78.26	0.14%	$2,408,216.72
218	BBWI	Common Stock	Consumer Discretionary	Specialty Retail	Bath & Body Works	119134	$20.08	0.14%	$2,392,210.72
219	MMI	Common Stock	Real Estate	Real Estate Management & Development	Marcus & Millichap	85831	$27.29	0.13%	$2,342,327.99
220	HLI	Common Stock	Financials	Capital Markets	Houlihan Lokey Cl. A	13170	$174.19	0.13%	$2,294,082.30
221	ECG	Common Stock	Industrials	Construction & Engineering	Everus Construction Group	26726	$85.56	0.13%	$2,286,676.56
222	GABC	Common Stock	Financials	Banks	German American Bancorp	57339	$39.18	0.13%	$2,246,542.02
223	BBSI	Common Stock	Industrials	Professional Services	Barrett Business Services	61799	$36.21	0.13%	$2,237,741.79
224	ARCB	Common Stock	Industrials	Ground Transportation	ArcBest Corporation	29700	$74.19	0.12%	$2,203,443.00
225	SIGA	Common Stock	Health Care	Pharmaceuticals	SIGA Technologies	357096	$6.11	0.12%	$2,181,856.56
226	MSA	Common Stock	Industrials	Commercial Services & Supplies	MSA Safety	13470	$160.14	0.12%	$2,157,085.80
227	NWPX	Common Stock	Industrials	Construction & Engineering	NWPX Infrastructure	34513	$62.49	0.12%	$2,156,717.37
228	UNF	Common Stock	Industrials	Commercial Services & Supplies	UniFirst Corporation	11072	$192.90	0.12%	$2,135,788.80
229	UCTT	Common Stock	Information Technology	Semiconductors & Semiconductor Equipment	Ultra Clean Holdings	83762	$25.33	0.12%	$2,121,691.46
230	NBN	Common Stock	Financials	Banks	Northeast Bank	20379	$103.93	0.12%	$2,117,989.47
231	MMS	Common Stock	Industrials	Professional Services	MAXIMUS	24458	$86.32	0.12%	$2,111,214.56
232	ZVRA	Common Stock	Health Care	Pharmaceuticals	Zevra Therapeutics	234606	$8.96	0.12%	$2,102,069.76
233	R	Common Stock	Industrials	Ground Transportation	Ryder System	10961	$191.39	0.12%	$2,097,825.79
234	STRL	Common Stock	Industrials	Construction & Engineering	Sterling Infrastructure	6847	$306.23	0.12%	$2,096,756.81
235	ARW	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	Arrow Electronics	18425	$110.18	0.11%	$2,030,066.50
236	ESQ	Common Stock	Financials	Banks	Esquire Financial Holdings	18448	$102.07	0.11%	$1,882,987.36
237	ANDG	Common Stock	Industrials	Commercial Services & Supplies	Andersen Group Cl. A	69854	$25.93	0.10%	$1,811,314.22
238	CCB	Common Stock	Financials	Banks	Coastal Financial	15773	$114.59	0.10%	$1,807,428.07
239	PBH	Common Stock	Health Care	Pharmaceuticals	Prestige Consumer Healthcare	28010	$61.69	0.10%	$1,727,936.90
240	RUSHA	Common Stock	Industrials	Trading Companies & Distributors	Rush Enterprises Cl. A	31674	$53.94	0.10%	$1,708,495.56
241	NCNO	Common Stock	Information Technology	Software	nCino	65656	$25.64	0.10%	$1,683,419.84
242	USLM	Common Stock	Materials	Construction Materials	United States Lime & Minerals	13392	$119.74	0.09%	$1,603,558.08
243	LEU	Common Stock	Energy	Oil, Gas & Consumable Fuels	Centrus Energy Cl. A	6257	$242.76	0.09%	$1,518,949.32
244	TREX	Common Stock	Industrials	Building Products	Trex Company	43117	$35.08	0.09%	$1,512,544.36
245	VNP CN	Common Stock	Materials	Chemicals	5N Plus	105916	$12.91	0.08%	$1,367,404.84
246	CBNA	Common Stock	Financials	Banks	Chain Bridge Bancorp Cl. A	37865	$34.64	0.07%	$1,311,643.60
247	LOB	Common Stock	Financials	Banks	Live Oak Bancshares	37493	$34.35	0.07%	$1,287,884.55
248	SLVM	Common Stock	Materials	Paper & Forest Products	Sylvamo Corporation	26213	$48.15	0.07%	$1,262,155.95
249	HALO	Common Stock	Health Care	Biotechnology	Halozyme Therapeutics	18469	$67.30	0.07%	$1,242,963.70
250	MTUS	Common Stock	Materials	Metals & Mining	Metallus	69000	$17.16	0.07%	$1,184,040.00
251	FC	Common Stock	Industrials	Professional Services	Franklin Covey	70532	$16.78	0.07%	$1,183,526.96
252	ADEA	Common Stock	Information Technology	Software	Adeia	67923	$17.25	0.07%	$1,171,671.75
253	QNST	Common Stock	Communication Services	Interactive Media & Services	QuinStreet	76292	$14.37	0.06%	$1,096,316.04
254	EBF	Common Stock	Industrials	Commercial Services & Supplies	Ennis	57300	$18.01	0.06%	$1,031,973.00
255	KRMN	Common Stock	Industrials	Aerospace & Defense	Karman Holdings	12278	$73.17	0.05%	$898,381.26
256	CMPX	Common Stock	Health Care	Biotechnology	Compass Therapeutics	130597	$5.37	0.04%	$701,305.89
257	IIIV	Common Stock	Financials	Financial Services	I3 Verticals Cl. A	25580	$25.19	0.04%	$644,360.20
258	IDT	Common Stock	Communication Services	Diversified Telecommunication Services	IDT Corporation Cl. B	11478	$51.21	0.03%	$587,788.38
259	MOV	Common Stock	Consumer Discretionary	Textiles, Apparel & Luxury Goods	Movado Group	26610	$20.62	0.03%	$548,698.20
260	MLI	Common Stock	Industrials	Machinery	Mueller Industries	4508	$114.80	0.03%	$517,518.40
261	ONEW	Common Stock	Consumer Discretionary	Specialty Retail	OneWater Marine Cl. A	47102	$10.82	0.03%	$509,643.64
262	POOL	Common Stock	Consumer Discretionary	Distributors	Pool Corporation	1888	$228.75	0.02%	$431,880.00
263	WSM	Common Stock	Consumer Discretionary	Specialty Retail	Williams-Sonoma	1193	$178.59	0.01%	$213,057.87
264	VSEC	Common Stock	Industrials	Commercial Services & Supplies	VSE Corporation	666	$172.77	0.00%	$115,064.82

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Holdings as of: 12/31/25

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