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 Total Return Fund

Holdings as of: 06/30/25

Download Holdings

#	Ticker	Asset Type	Sector	Industry	Name	Shares/ Principal	Price	% of Assets	Market Value
1		Repurchase Agreement			Fixed Income Clearing Corporation	36914788	$100.00	4.00%	$36,914,787.89
2	ASO	Common Stock	Consumer Discretionary	Specialty Retail	Academy Sports & Outdoors	643343	$44.81	3.13%	$28,828,199.83
3	IGIC	Common Stock	Financials	Insurance	International General Insurance Holdings	1100106	$24.02	2.87%	$26,424,546.12
4	MSM	Common Stock	Industrials	Trading Companies & Distributors	MSC Industrial Direct Cl. A	309021	$85.02	2.85%	$26,272,965.42
5	AGO	Common Stock	Financials	Insurance	Assured Guaranty	297067	$87.10	2.81%	$25,874,535.70
6	HCKT	Common Stock	Information Technology	IT Services	Hackett Group (The)	1016781	$25.42	2.80%	$25,846,573.02
7	AAP	Common Stock	Consumer Discretionary	Specialty Retail	Advance Auto Parts	540654	$46.49	2.73%	$25,135,004.46
8	HCSG	Common Stock	Industrials	Commercial Services & Supplies	Healthcare Services Group	1578690	$15.03	2.57%	$23,727,710.70
9	BBSI	Common Stock	Industrials	Professional Services	Barrett Business Services	553226	$41.69	2.50%	$23,063,991.94
10	KD	Common Stock	Information Technology	IT Services	Kyndryl Holdings	515533	$41.96	2.35%	$21,631,764.68
11	VNT	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	Vontier Corporation	575056	$36.90	2.30%	$21,219,566.40
12	UFPI	Common Stock	Industrials	Building Products	UFP Industries	203738	$99.36	2.20%	$20,243,407.68
13	HOMB	Common Stock	Financials	Banks	Home BancShares	708233	$28.46	2.19%	$20,156,311.18
14	KLIC	Common Stock	Information Technology	Semiconductors & Semiconductor Equipment	Kulicke & Soffa Industries	567005	$34.60	2.13%	$19,618,373.00
15	FTAI	Common Stock	Industrials	Trading Companies & Distributors	FTAI Aviation	169953	$115.04	2.12%	$19,551,393.12
16	AL	Common Stock	Industrials	Trading Companies & Distributors	Air Lease Cl. A	316952	$58.49	2.01%	$18,538,522.48
17	SPNS	Common Stock	Information Technology	Software	Sapiens International	628643	$29.25	1.99%	$18,387,807.75
18	SLGN	Common Stock	Materials	Containers & Packaging	Silgan Holdings	331138	$54.18	1.95%	$17,941,056.84
19	YETI	Common Stock	Consumer Discretionary	Leisure Products	YETI Holdings	565791	$31.52	1.93%	$17,833,732.32
20	ESI	Common Stock	Materials	Chemicals	Element Solutions	774088	$22.65	1.90%	$17,533,093.20
21	NGVT	Common Stock	Materials	Chemicals	Ingevity Corporation	403359	$43.09	1.89%	$17,380,739.31
22	TKR	Common Stock	Industrials	Machinery	Timken Company (The)	234436	$72.55	1.84%	$17,008,331.80
23	OBK	Common Stock	Financials	Banks	Origin Bancorp	464891	$35.74	1.80%	$16,615,204.34
24	SBCF	Common Stock	Financials	Banks	Seacoast Banking Corporation of Florida	598847	$27.62	1.79%	$16,540,154.14
25	TOWN	Common Stock	Financials	Banks	TowneBank	470371	$34.18	1.74%	$16,077,280.78
26	PSI CN	Common Stock	Energy	Energy Equipment & Services	Pason Systems	1750467	$9.02	1.71%	$15,785,375.26
27	BELFB	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	Bel Fuse Cl. B	152440	$97.69	1.62%	$14,891,863.60
28	KBR	Common Stock	Industrials	Professional Services	KBR	308085	$47.94	1.60%	$14,769,594.90
29	BKU	Common Stock	Financials	Banks	BankUnited	414220	$35.59	1.60%	$14,742,089.80
30	NSP	Common Stock	Industrials	Professional Services	Insperity	240075	$60.12	1.57%	$14,433,309.00
31	MBIN	Common Stock	Financials	Financial Services	Merchants Bancorp	435300	$33.07	1.56%	$14,395,371.00
32	HIFS	Common Stock	Financials	Banks	Hingham Institution for Savings	57514	$248.35	1.55%	$14,283,601.90
33	WD	Common Stock	Financials	Financial Services	Walker & Dunlop	198842	$70.48	1.52%	$14,014,384.16
34	FC	Common Stock	Industrials	Professional Services	Franklin Covey	612198	$22.82	1.52%	$13,970,358.36
35	GPK	Common Stock	Materials	Containers & Packaging	Graphic Packaging Holding Company	647732	$21.07	1.48%	$13,647,713.24
36	NOMD	Common Stock	Consumer Staples	Food Products	Nomad Foods	792506	$16.99	1.46%	$13,464,676.94
37	OCFC	Common Stock	Financials	Banks	OceanFirst Financial	734080	$17.61	1.40%	$12,927,148.80
38	AMSF	Common Stock	Financials	Insurance	AMERISAFE	280779	$43.73	1.33%	$12,278,465.67
39	RNR	Common Stock	Financials	Insurance	RenaissanceRe Holdings	50066	$242.90	1.32%	$12,161,031.40
40	MRX	Common Stock	Financials	Capital Markets	Marex Group	307627	$39.47	1.32%	$12,142,037.69
41	GBCI	Common Stock	Financials	Banks	Glacier Bancorp	277936	$43.08	1.30%	$11,973,482.88
42	GABC	Common Stock	Financials	Banks	German American Bancorp	310547	$38.51	1.30%	$11,959,164.97
43	BRSL	Common Stock	Consumer Discretionary	Hotels, Restaurants & Leisure	International Game Technology	729997	$15.81	1.25%	$11,541,252.57
44	ATKR	Common Stock	Industrials	Electrical Equipment	Atkore	154604	$70.55	1.18%	$10,907,312.20
45	BANC	Common Stock	Financials	Banks	Banc of California	750352	$14.05	1.14%	$10,542,445.60
46	IBP	Common Stock	Consumer Discretionary	Household Durables	Installed Building Products	56631	$180.32	1.11%	$10,211,701.92
47	MCB	Common Stock	Financials	Banks	Metropolitan Bank Holding	145559	$70.00	1.11%	$10,189,130.00
48	PACS	Common Stock	Health Care	Health Care Providers & Services	PACS Group	756099	$12.92	1.06%	$9,768,799.08
49	AXS	Common Stock	Financials	Insurance	Axis Capital Holdings	90307	$103.82	1.02%	$9,375,672.74
50	PLOW	Common Stock	Industrials	Machinery	Douglas Dynamics	310936	$29.47	0.99%	$9,163,283.92
51	DFIN	Common Stock	Financials	Capital Markets	Donnelley Financial Solutions	129721	$61.65	0.87%	$7,997,299.65
52	KIMBERA MM	Common Stock	Consumer Staples	Household Products	Kimberly-Clark de Mexico	4113045	$1.83	0.82%	$7,540,235.44
53	WAL	Common Stock	Financials	Banks	Western Alliance Bancorp	93561	$77.98	0.79%	$7,295,886.78
54	CLB	Common Stock	Energy	Energy Equipment & Services	Core Laboratories	573043	$11.52	0.72%	$6,601,455.36
55	WHD	Common Stock	Energy	Energy Equipment & Services	Cactus Cl. A	148523	$43.72	0.70%	$6,493,425.56
56	ESQ	Common Stock	Financials	Banks	Esquire Financial Holdings	59376	$94.66	0.61%	$5,620,532.16
57	TASE IT	Common Stock	Financials	Capital Markets	Tel Aviv Stock Exchange	252525	$19.33	0.53%	$4,880,615.59
58	FFIN	Common Stock	Financials	Banks	First Financial Bankshares	123387	$35.98	0.48%	$4,439,464.26
59	ONEW	Common Stock	Consumer Discretionary	Specialty Retail	OneWater Marine Cl. A	306531	$13.39	0.45%	$4,104,450.09
60	GCMG	Common Stock	Financials	Capital Markets	GCM Grosvenor Cl. A	347952	$11.56	0.44%	$4,022,325.12
61	WTFC	Common Stock	Financials	Banks	Wintrust Financial	30629	$123.98	0.41%	$3,797,383.42
62	IDT	Common Stock	Communication Services	Diversified Telecommunication Services	IDT Corporation Cl. B	35259	$68.32	0.26%	$2,408,894.88
63	FIHL	Common Stock	Financials	Insurance	Fidelis Insurance Holdings	64665	$16.58	0.12%	$1,072,145.70
64	CODI	Common Stock	Financials	Financial Services	Compass Diversified Holdings	28470	$6.28	0.02%	$178,791.60

Important Disclosure Information

Royce Small-Cap Total Return Fund

Holdings as of: 06/30/25

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