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: 03/31/25

Download Holdings

#	Ticker	Asset Type	Sector	Industry	Name	Shares/ Principal	Price	% of Assets	Market Value
1		Repurchase Agreement			Fixed Income Clearing Corporation	41100914	$100.00	4.50%	$41,100,914.44
2	IGIC	Common Stock	Financials	Insurance	International General Insurance Holdings	1128294	$26.31	3.25%	$29,685,415.14
3	ASO	Common Stock	Consumer Discretionary	Specialty Retail	Academy Sports & Outdoors	645397	$45.61	3.22%	$29,436,557.17
4	AGO	Common Stock	Financials	Insurance	Assured Guaranty	331298	$88.10	3.19%	$29,187,353.80
5	BBSI	Common Stock	Industrials	Professional Services	Barrett Business Services	635333	$41.15	2.86%	$26,143,952.95
6	HCKT	Common Stock	Information Technology	IT Services	Hackett Group (The)	875075	$29.22	2.80%	$25,569,691.50
7	FTAI	Common Stock	Industrials	Trading Companies & Distributors	FTAI Aviation	226053	$111.03	2.75%	$25,098,664.59
8	AAP	Common Stock	Consumer Discretionary	Specialty Retail	Advance Auto Parts	624851	$39.21	2.68%	$24,500,407.71
9	MSM	Common Stock	Industrials	Trading Companies & Distributors	MSC Industrial Direct Cl. A	309021	$77.67	2.63%	$24,001,661.07
10	KLIC	Common Stock	Information Technology	Semiconductors & Semiconductor Equipment	Kulicke & Soffa Industries	692005	$32.98	2.50%	$22,822,324.90
11	HCSG	Common Stock	Industrials	Commercial Services & Supplies	Healthcare Services Group	2162452	$10.08	2.39%	$21,797,516.16
12	AL	Common Stock	Industrials	Trading Companies & Distributors	Air Lease Cl. A	422940	$48.31	2.24%	$20,432,231.40
13	HOMB	Common Stock	Financials	Banks	Home BancShares	708233	$28.27	2.19%	$20,021,746.91
14	SLGN	Common Stock	Materials	Containers & Packaging	Silgan Holdings	386081	$51.12	2.16%	$19,736,460.72
15	VNT	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	Vontier Corporation	599229	$32.85	2.15%	$19,684,672.65
16	UFPI	Common Stock	Industrials	Building Products	UFP Industries	176429	$107.04	2.07%	$18,884,960.16
17	SPNS	Common Stock	Information Technology	Software	Sapiens International	696945	$27.09	2.07%	$18,880,240.05
18	PSI CN	Common Stock	Energy	Energy Equipment & Services	Pason Systems	2063268	$9.14	2.06%	$18,854,087.21
19	TKR	Common Stock	Industrials	Machinery	Timken Company (The)	255104	$71.87	2.01%	$18,334,324.48
20	NGVT	Common Stock	Materials	Chemicals	Ingevity Corporation	460529	$39.59	2.00%	$18,232,343.11
21	KD	Common Stock	Information Technology	IT Services	Kyndryl Holdings	578317	$31.40	1.99%	$18,159,153.80
22	IDT	Common Stock	Communication Services	Diversified Telecommunication Services	IDT Corporation Cl. B	345434	$51.31	1.94%	$17,724,218.54
23	MRX	Common Stock	Financials	Capital Markets	Marex Group	486173	$35.32	1.88%	$17,171,630.36
24	YETI	Common Stock	Consumer Discretionary	Leisure Products	YETI Holdings	515944	$33.10	1.87%	$17,077,746.40
25	VSTS	Common Stock	Industrials	Commercial Services & Supplies	Vestis Corporation	1720057	$9.90	1.86%	$17,028,564.30
26	TOWN	Common Stock	Financials	Banks	TowneBank	484417	$34.19	1.81%	$16,562,217.23
27	ESI	Common Stock	Materials	Chemicals	Element Solutions	732257	$22.61	1.81%	$16,556,330.77
28	FC	Common Stock	Industrials	Professional Services	Franklin Covey	572392	$27.62	1.73%	$15,809,467.04
29	SBCF	Common Stock	Financials	Banks	Seacoast Banking Corporation of Florida	598847	$25.73	1.69%	$15,408,333.31
30	AMSF	Common Stock	Financials	Insurance	AMERISAFE	291195	$52.55	1.67%	$15,302,297.25
31	OBK	Common Stock	Financials	Banks	Origin Bancorp	440655	$34.67	1.67%	$15,277,508.85
32	BKU	Common Stock	Financials	Banks	BankUnited	414220	$34.44	1.56%	$14,265,736.80
33	BELFB	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	Bel Fuse Cl. B	189447	$74.86	1.55%	$14,182,002.42
34	GCMG	Common Stock	Financials	Capital Markets	GCM Grosvenor Cl. A	1055792	$13.23	1.53%	$13,968,128.16
35	AXS	Common Stock	Financials	Insurance	Axis Capital Holdings	136864	$100.24	1.50%	$13,719,247.36
36	RNR	Common Stock	Financials	Insurance	RenaissanceRe Holdings	54982	$240.00	1.44%	$13,195,680.00
37	BANC	Common Stock	Financials	Banks	Banc of California	916110	$14.19	1.42%	$12,999,600.90
38	MBIN	Common Stock	Financials	Financial Services	Merchants Bancorp	350358	$37.00	1.42%	$12,963,246.00
39	ONEW	Common Stock	Consumer Discretionary	Specialty Retail	OneWater Marine Cl. A	713407	$16.18	1.26%	$11,542,925.26
40	CODI	Common Stock	Financials	Financial Services	Compass Diversified Holdings	608163	$18.67	1.24%	$11,354,403.21
41	HIFS	Common Stock	Financials	Banks	Hingham Institution for Savings	46967	$237.80	1.22%	$11,168,752.60
42	GBCI	Common Stock	Financials	Banks	Glacier Bancorp	242899	$44.22	1.18%	$10,740,993.78
43	GABC	Common Stock	Financials	Banks	German American Bancorp	285140	$37.50	1.17%	$10,692,750.00
44	KBR	Common Stock	Industrials	Professional Services	KBR	214046	$49.81	1.17%	$10,661,631.26
45	CLB	Common Stock	Energy	Energy Equipment & Services	Core Laboratories	689591	$14.99	1.13%	$10,336,969.09
46	WD	Common Stock	Financials	Financial Services	Walker & Dunlop	120333	$85.36	1.12%	$10,271,624.88
47	ATKR	Common Stock	Industrials	Electrical Equipment	Atkore	167937	$59.99	1.10%	$10,074,540.63
48	MCB	Common Stock	Financials	Banks	Metropolitan Bank Holding	179593	$55.99	1.10%	$10,055,412.07
49	KW	Common Stock	Real Estate	Real Estate Management & Development	Kennedy-Wilson Holdings	1120939	$8.68	1.06%	$9,729,750.52
50	OCFC	Common Stock	Financials	Banks	OceanFirst Financial	565151	$17.01	1.05%	$9,613,218.51
51	WHD	Common Stock	Energy	Energy Equipment & Services	Cactus Cl. A	170442	$45.83	0.85%	$7,811,356.86
52	WAL	Common Stock	Financials	Banks	Western Alliance Bancorp	93561	$76.83	0.79%	$7,188,291.63
53	PACS	Common Stock	Health Care	Health Care Providers & Services	PACS Group	628551	$11.24	0.77%	$7,064,913.24
54	TASE IT	Common Stock	Financials	Capital Markets	Tel Aviv Stock Exchange	395773	$11.79	0.51%	$4,667,210.97
55	FFIN	Common Stock	Financials	Banks	First Financial Bankshares	123387	$35.92	0.48%	$4,432,061.04
56	WTFC	Common Stock	Financials	Banks	Wintrust Financial	30629	$112.46	0.38%	$3,444,537.34
57	NSP	Common Stock	Industrials	Professional Services	Insperity	25967	$89.23	0.25%	$2,317,035.41
58	IBP	Common Stock	Consumer Discretionary	Household Durables	Installed Building Products	13404	$171.46	0.25%	$2,298,249.84
59	IGT	Common Stock	Consumer Discretionary	Hotels, Restaurants & Leisure	International Game Technology	140836	$16.26	0.25%	$2,289,993.36
60	SNEX	Common Stock	Financials	Capital Markets	StoneX Group	29727	$76.38	0.25%	$2,270,548.26
61	ESQ	Common Stock	Financials	Banks	Esquire Financial Holdings	26121	$75.38	0.22%	$1,969,000.98

Important Disclosure Information

Royce Small-Cap Total Return Fund

Holdings as of: 03/31/25

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