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 Value Fund

Holdings as of: 09/30/25

Download Holdings

#	Ticker	Asset Type	Sector	Industry	Name	Shares/ Principal	Price	% of Assets	Market Value
1	IBEX	Common Stock	Industrials	Professional Services	IBEX	49520	$40.52	2.92%	$2,006,550.40
2	BKE	Common Stock	Consumer Discretionary	Specialty Retail	Buckle (The)	34079	$58.66	2.91%	$1,999,074.14
3	PHM	Common Stock	Consumer Discretionary	Household Durables	PulteGroup	15043	$132.13	2.89%	$1,987,631.59
4	SNX	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	TD SYNNEX	12085	$163.75	2.88%	$1,978,918.75
5	VC	Common Stock	Consumer Discretionary	Automobile Components	Visteon Corporation	16371	$119.86	2.86%	$1,962,228.06
6	MHO	Common Stock	Consumer Discretionary	Household Durables	M/I Homes	13046	$144.44	2.74%	$1,884,364.24
7	DBD	Common Stock	Information Technology	Technology Hardware, Storage & Peripherals	Diebold Nixdorf	32023	$57.03	2.66%	$1,826,271.69
8	TNK	Common Stock	Energy	Oil, Gas & Consumable Fuels	Teekay Tankers Cl. A	34550	$50.55	2.54%	$1,746,502.50
9	UNTY	Common Stock	Financials	Banks	Unity Bancorp	35453	$48.87	2.52%	$1,732,588.11
10	VLGEA	Common Stock	Consumer Staples	Consumer Staples Distribution & Retail	Village Super Market Cl. A	46127	$37.36	2.51%	$1,723,304.72
11	FLEX	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	Flex	29703	$57.97	2.51%	$1,721,882.91
12	LEA	Common Stock	Consumer Discretionary	Automobile Components	Lear Corporation	16957	$100.61	2.48%	$1,706,043.77
13	CPRX	Common Stock	Health Care	Biotechnology	Catalyst Pharmaceuticals	86300	$19.70	2.48%	$1,700,110.00
14	EVR	Common Stock	Financials	Capital Markets	Evercore Cl. A	4988	$337.32	2.45%	$1,682,552.16
15	AMKR	Common Stock	Information Technology	Semiconductors & Semiconductor Equipment	Amkor Technology	57796	$28.40	2.39%	$1,641,406.40
16	GNK	Common Stock	Industrials	Marine Transportation	Genco Shipping & Trading	91881	$17.80	2.38%	$1,635,481.80
17	TSBK	Common Stock	Financials	Banks	Timberland Bancorp	48922	$33.28	2.37%	$1,628,124.16
18	TILE	Common Stock	Industrials	Commercial Services & Supplies	Interface	55626	$28.94	2.34%	$1,609,816.44
19	JBL	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	Jabil	7305	$217.17	2.31%	$1,586,426.85
20	FRBA	Common Stock	Financials	Banks	First Bank	95794	$16.29	2.27%	$1,560,484.26
21	SANM	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	Sanmina Corporation	13436	$115.11	2.25%	$1,546,617.96
22	ALSN	Common Stock	Industrials	Machinery	Allison Transmission Holdings	17703	$84.88	2.19%	$1,502,630.64
23	ACT	Common Stock	Financials	Financial Services	Enact Holdings	39021	$38.34	2.18%	$1,496,065.14
24	CHRD	Common Stock	Energy	Oil, Gas & Consumable Fuels	Chord Energy	15027	$99.37	2.17%	$1,493,232.99
25	MTH	Common Stock	Consumer Discretionary	Household Durables	Meritage Homes	20596	$72.43	2.17%	$1,491,768.28
26	SIG	Common Stock	Consumer Discretionary	Specialty Retail	Signet Jewelers	15479	$95.92	2.16%	$1,484,745.68
27	MTDR	Common Stock	Energy	Oil, Gas & Consumable Fuels	Matador Resources	32943	$44.93	2.16%	$1,480,128.99
28	SM	Common Stock	Energy	Oil, Gas & Consumable Fuels	SM Energy	59144	$24.97	2.15%	$1,476,825.68
29	PLUS	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	ePlus	20755	$71.01	2.15%	$1,473,812.55
30	KFY	Common Stock	Industrials	Professional Services	Korn Ferry	21052	$69.98	2.15%	$1,473,218.96
31	TIPT	Common Stock	Financials	Insurance	Tiptree	73167	$19.17	2.04%	$1,402,611.39
32	MOH	Common Stock	Health Care	Health Care Providers & Services	Molina Healthcare	7317	$191.36	2.04%	$1,400,181.12
33	BHRB	Common Stock	Financials	Banks	Burke & Herbert Financial Services	22286	$61.69	2.00%	$1,374,823.34
34		Repurchase Agreement			Fixed Income Clearing Corporation	1370162	$100.00	2.00%	$1,370,161.88
35	ADEA	Common Stock	Information Technology	Software	Adeia	80888	$16.80	1.98%	$1,358,918.40
36	ASO	Common Stock	Consumer Discretionary	Specialty Retail	Academy Sports & Outdoors	26945	$50.02	1.96%	$1,347,788.90
37	JILL	Common Stock	Consumer Discretionary	Specialty Retail	J.Jill	78013	$17.15	1.95%	$1,337,922.95
38	STRL	Common Stock	Industrials	Construction & Engineering	Sterling Infrastructure	3908	$339.68	1.93%	$1,327,469.44
39	CIVI	Common Stock	Energy	Oil, Gas & Consumable Fuels	Civitas Resources	40532	$32.50	1.92%	$1,317,290.00
40	NEU	Common Stock	Materials	Chemicals	NewMarket Corporation	1568	$828.21	1.89%	$1,298,633.28
41	COLL	Common Stock	Health Care	Pharmaceuticals	Collegium Pharmaceutical	36844	$34.99	1.88%	$1,289,171.56
42	UVSP	Common Stock	Financials	Banks	Univest Financial	42869	$30.02	1.87%	$1,286,927.38
43	BLBD	Common Stock	Industrials	Machinery	Blue Bird	22209	$57.55	1.86%	$1,278,127.95
44	ETD	Common Stock	Consumer Discretionary	Household Durables	Ethan Allen Interiors	42925	$29.46	1.84%	$1,264,570.50
45	BBSI	Common Stock	Industrials	Professional Services	Barrett Business Services	28503	$44.32	1.84%	$1,263,252.96
46	CBT	Common Stock	Materials	Chemicals	Cabot Corporation	16373	$76.05	1.81%	$1,245,166.65
47	CCNE	Common Stock	Financials	Banks	CNB Financial	51442	$24.20	1.81%	$1,244,896.40
48	WS	Common Stock	Materials	Metals & Mining	Worthington Steel	40854	$30.39	1.81%	$1,241,553.06
49	TPH	Common Stock	Consumer Discretionary	Household Durables	Tri Pointe Homes	36545	$33.97	1.81%	$1,241,433.65
50	AMPH	Common Stock	Health Care	Pharmaceuticals	Amphastar Pharmaceuticals	46434	$26.65	1.80%	$1,237,466.10
51	FSBW	Common Stock	Financials	Banks	FS Bancorp	30911	$39.92	1.80%	$1,233,967.12
52	OCFC	Common Stock	Financials	Banks	OceanFirst Financial	66251	$17.57	1.69%	$1,164,030.07
53	ARCB	Common Stock	Industrials	Ground Transportation	ArcBest Corporation	16619	$69.87	1.69%	$1,161,169.53
54	CIVB	Common Stock	Financials	Banks	Civista Bancshares	50223	$20.31	1.49%	$1,020,029.13
55	MPB	Common Stock	Financials	Banks	Mid Penn Bancorp	35368	$28.64	1.47%	$1,012,939.52
56	FTDR	Common Stock	Consumer Discretionary	Diversified Consumer Services	frontdoor	15048	$67.29	1.47%	$1,012,579.92
57	HFWA	Common Stock	Financials	Banks	Heritage Financial	41707	$24.19	1.47%	$1,008,892.33
58	BELFB	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	Bel Fuse Cl. B	6942	$141.02	1.43%	$978,960.84
59	KTB	Common Stock	Consumer Discretionary	Textiles, Apparel & Luxury Goods	Kontoor Brands	12258	$79.77	1.42%	$977,820.66
60	GNTX	Common Stock	Consumer Discretionary	Automobile Components	Gentex Corporation	31705	$28.30	1.31%	$897,251.50
61	WSM	Common Stock	Consumer Discretionary	Specialty Retail	Williams-Sonoma	4555	$195.45	1.30%	$890,274.75
62	SCVL	Common Stock	Consumer Discretionary	Specialty Retail	Shoe Carnival	42706	$20.79	1.29%	$887,857.74
63	CRMD	Common Stock	Health Care	Pharmaceuticals	CorMedix	72483	$11.63	1.23%	$842,977.29
64	UFCS	Common Stock	Financials	Insurance	United Fire Group	26379	$30.42	1.17%	$802,449.18
65	TRST	Common Stock	Financials	Banks	TrustCo Bank Corp NY	21528	$36.30	1.14%	$781,466.40
66	CNXN	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	PC Connection	12593	$61.99	1.14%	$780,640.07
67	SIGA	Common Stock	Health Care	Pharmaceuticals	SIGA Technologies	84764	$9.15	1.13%	$775,590.60
68	BFST	Common Stock	Financials	Banks	Business First Bancshares	32804	$23.61	1.13%	$774,502.44
69	SLVM	Common Stock	Materials	Paper & Forest Products	Sylvamo Corporation	17122	$44.22	1.10%	$757,134.84
70	BPRN	Common Stock	Financials	Banks	Princeton Bancorp	23307	$31.84	1.08%	$742,094.88
71	WSBC	Common Stock	Financials	Banks	WesBanco	22894	$31.93	1.06%	$731,005.42
72	WNEB	Common Stock	Financials	Banks	Western New England Bancorp	58899	$12.01	1.03%	$707,376.99
73	MBC	Common Stock	Industrials	Building Products	MasterBrand	51549	$13.17	0.99%	$678,900.33
74	BCC	Common Stock	Industrials	Trading Companies & Distributors	Boise Cascade	8315	$77.32	0.94%	$642,915.80
75	DCOM	Common Stock	Financials	Banks	Dime Community Bancshares	21468	$29.83	0.93%	$640,390.44
76	TRDA	Common Stock	Health Care	Biotechnology	Entrada Therapeutics	102850	$5.80	0.87%	$596,530.00
77	REPX	Common Stock	Energy	Oil, Gas & Consumable Fuels	Riley Exploration Permian	19413	$27.11	0.77%	$526,286.43
78	UFPI	Common Stock	Industrials	Building Products	UFP Industries	5556	$93.49	0.76%	$519,430.44
79	DGICA	Common Stock	Financials	Insurance	Donegal Group Cl. A	23541	$19.39	0.66%	$456,459.99
80	TMHC	Common Stock	Consumer Discretionary	Household Durables	Taylor Morrison Home	6909	$66.01	0.66%	$456,063.09
81	CZWI	Common Stock	Financials	Banks	Citizens Community Bancorp	27798	$16.07	0.65%	$446,713.86
82	CRGY	Common Stock	Energy	Oil, Gas & Consumable Fuels	Crescent Energy Cl. A	26247	$8.92	0.34%	$234,123.24

Important Disclosure Information

Royce Small-Cap Value Fund

Holdings as of: 09/30/25

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