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 Capital Fund - Micro-Cap Portfolio

Holdings as of: 12/31/25

Download Holdings

#	Ticker	Sector	Industry	Name	Price	% of Assets	Market Value
1	RCMCX	Health Care	Health Care Equipment & Supplies	Establishment Labs Holdings	$0.00	1.35%	$1,285,967.60
2	RCMCX	Energy	Energy Equipment & Services	Natural Gas Services Group	$0.00	1.26%	$1,205,847.75
3	RCMCX	Information Technology	Electronic Equipment, Instruments & Components	LightPath Technologies Cl. A	$0.00	1.26%	$1,201,316.40
4	RCMCX	Financials	Banks	Investar Holding	$0.00	1.22%	$1,167,503.68
5	RCMCX	Information Technology	Electronic Equipment, Instruments & Components	nLIGHT	$0.00	1.19%	$1,135,727.78
6	RCMCX	Industrials	Construction & Engineering	NWPX Infrastructure	$0.00	1.19%	$1,132,693.74
7	RCMCX	Information Technology	Electronic Equipment, Instruments & Components	Bel Fuse Cl. B	$0.00	1.16%	$1,111,585.39
8	RCMCX	Consumer Discretionary	Specialty Retail	RealReal	$0.00	1.16%	$1,106,888.10
9	RCMCX	Information Technology	Communications Equipment	Digi International	$0.00	1.12%	$1,070,778.15
10	RCMCX	Industrials	Machinery	Graham Corporation	$0.00	1.12%	$1,067,052.99
11	RCMCX	Financials	Banks	Western New England Bancorp	$0.00	1.09%	$1,041,553.84
12	RCMCX	Financials	Consumer Finance	EZCORP Cl. A	$0.00	1.08%	$1,027,512.20
13	RCMCX	Consumer Discretionary	Diversified Consumer Services	Lincoln Educational Services	$0.00	1.06%	$1,009,856.40
14	RCMCX	Information Technology	Semiconductors & Semiconductor Equipment	Ichor Holdings	$0.00	1.05%	$1,008,213.15
15	RCMCX	Information Technology	Communications Equipment	Applied Optoelectronics	$0.00	1.05%	$1,004,212.02
16	RCMCX	Information Technology	Semiconductors & Semiconductor Equipment	Cohu	$0.00	1.05%	$1,002,494.87
17	RCMCX	Industrials	Commercial Services & Supplies	CECO Environmental	$0.00	1.04%	$996,382.80
18	RCMCX	Industrials	Aerospace & Defense	Astronics Corporation	$0.00	1.03%	$982,232.16
19	RCMCX	Consumer Discretionary	Specialty Retail	Citi Trends	$0.00	1.03%	$979,943.24
20	RCMCX	Financials	Banks	Customers Bancorp	$0.00	1.02%	$976,956.32
21	RCMCX	Consumer Discretionary	Hotels, Restaurants & Leisure	Lindblad Expeditions Holdings	$0.00	1.01%	$968,086.70
22	RCMCX	Financials	Capital Markets	Sprott	$0.00	1.01%	$967,442.99
23	RCMCX	Health Care	Pharmaceuticals	Harrow	$0.00	1.01%	$965,741.00
24	RCMCX	Industrials	Aerospace & Defense	Park Aerospace	$0.00	1.01%	$965,080.16
25	RCMCX	Energy	Energy Equipment & Services	NPK International	$0.00	1.01%	$962,659.20
26	RCMCX	Materials	Metals & Mining	Major Drilling Group International	$0.00	1.00%	$959,565.29
27	RCMCX	Materials	Metals & Mining	Altius Minerals	$0.00	0.99%	$945,073.10
28	RCMCX	Information Technology	Electronic Equipment, Instruments & Components	Vishay Precision Group	$0.00	0.98%	$935,088.00
29	RCMCX	Communication Services	Entertainment	IMAX Corporation	$0.00	0.98%	$933,794.40
30	RCMCX	Industrials	Machinery	Luxfer Holdings	$0.00	0.98%	$933,786.48
31	RCMCX	Health Care	Health Care Equipment & Supplies	Artivion	$0.00	0.96%	$921,686.88
32	RCMCX	Information Technology	Electronic Equipment, Instruments & Components	Richardson Electronics	$0.00	0.96%	$921,079.04
33	RCMCX	Materials	Chemicals	5N Plus	$0.00	0.96%	$915,119.09
34	RCMCX	Information Technology	Electronic Equipment, Instruments & Components	Powerfleet	$0.00	0.96%	$913,066.28
35	RCMCX	Financials	Banks	Stellar Bancorp	$0.00	0.95%	$905,056.88
36	RCMCX	Information Technology	Semiconductors & Semiconductor Equipment	Ultra Clean Holdings	$0.00	0.94%	$902,862.52
37	RCMCX	Industrials	Commercial Services & Supplies	Liquidity Services	$0.00	0.94%	$893,811.59
38	RCMCX	Information Technology	Semiconductors & Semiconductor Equipment	Kopin Corporation	$0.00	0.92%	$876,837.78
39	RCMCX	Financials	Insurance	International General Insurance Holdings	$0.00	0.90%	$857,074.40
40	RCMCX	Information Technology	Semiconductors & Semiconductor Equipment	Nova	$0.00	0.88%	$841,335.18
41	RCMCX	Consumer Discretionary	Diversified Consumer Services	Legacy Education	$0.00	0.87%	$834,734.23
42	RCMCX	Industrials	Construction & Engineering	Limbach Holdings	$0.00	0.86%	$822,096.00
43	RCMCX	Industrials	Construction & Engineering	IES Holdings	$0.00	0.85%	$810,717.68
44	RCMCX	Industrials	Commercial Services & Supplies	Montrose Environmental Group	$0.00	0.83%	$796,546.40
45	RCMCX	Health Care	Life Sciences Tools & Services	Cytek Biosciences	$0.00	0.82%	$783,674.15
46	RCMCX	Information Technology	Communications Equipment	ADTRAN Holdings	$0.00	0.82%	$781,448.25
47	RCMCX	Health Care	Life Sciences Tools & Services	BioLife Solutions	$0.00	0.82%	$781,038.18
48	RCMCX	Industrials	Commercial Services & Supplies	Acme United	$0.00	0.82%	$780,401.60
49	RCMCX	Financials	Capital Markets	Canaccord Genuity Group	$0.00	0.80%	$762,390.99
50	RCMCX	Health Care	Health Care Equipment & Supplies	Profound Medical	$0.00	0.80%	$761,813.44
51	RCMCX	Health Care	Health Care Equipment & Supplies	Apyx Medical	$0.00	0.79%	$752,937.50
52	RCMCX	Industrials	Commercial Services & Supplies	VSE Corporation	$0.00	0.78%	$747,575.79
53	RCMCX	Financials	Banks	Northeast Bank	$0.00	0.78%	$747,464.56
54	RCMCX	Consumer Staples	Food Products	Seneca Foods Cl. A	$0.00	0.78%	$745,203.68
55	RCMCX	Industrials	Trading Companies & Distributors	Transcat	$0.00	0.76%	$726,711.30
56	RCMCX	Health Care	Life Sciences Tools & Services	Mesa Laboratories	$0.00	0.76%	$724,241.00
57	RCMCX	Financials	Capital Markets	Oppenheimer Holdings Cl. A	$0.00	0.76%	$721,960.23
58	RCMCX	Financials	Banks	Coastal Financial	$0.00	0.75%	$717,677.17
59	RCMCX	Information Technology	Semiconductors & Semiconductor Equipment	Camtek	$0.00	0.75%	$714,106.68
60	RCMCX	Industrials	Construction & Engineering	Ameresco Cl. A	$0.00	0.74%	$711,044.04
61	RCMCX	Information Technology	Electronic Equipment, Instruments & Components	Climb Global Solutions	$0.00	0.74%	$709,456.58
62	RCMCX	Financials	Banks	BayCom Corp.	$0.00	0.72%	$686,637.00
63	RCMCX	Health Care	Health Care Technology	Simulations Plus	$0.00	0.71%	$683,114.56
64	RCMCX	Industrials	Electrical Equipment	Hammond Power Solutions Cl. A	$0.00	0.71%	$680,771.79
65	RCMCX	Industrials	Trading Companies & Distributors	Distribution Solutions Group	$0.00	0.71%	$674,423.97
66	RCMCX	Information Technology	Communications Equipment	Clearfield	$0.00	0.70%	$672,956.90
67	RCMCX	Communication Services	Interactive Media & Services	QuinStreet	$0.00	0.69%	$660,833.19
68	RCMCX	Industrials	Trading Companies & Distributors	EVI Industries	$0.00	0.69%	$659,440.32
69	RCMCX	Consumer Discretionary	Household Durables	Legacy Housing	$0.00	0.67%	$644,238.08
70	RCMCX	Industrials	Ground Transportation	Covenant Logistics Group Cl. A	$0.00	0.67%	$643,303.52
71	RCMCX	Financials	Banks	Chain Bridge Bancorp Cl. A	$0.00	0.67%	$636,510.00
72	RCMCX	Energy	Energy Equipment & Services	Pason Systems	$0.00	0.67%	$635,765.69
73	RCMCX	Health Care	Biotechnology	CareDx	$0.00	0.66%	$630,970.44
74	RCMCX	Financials	Banks	Hingham Institution for Savings	$0.00	0.64%	$613,353.60
75	RCMCX	Industrials	Building Products	Quanex Building Products	$0.00	0.64%	$611,601.08
76	RCMCX	Health Care	Health Care Providers & Services	AMN Healthcare Services	$0.00	0.63%	$604,396.00
77	RCMCX	Materials	Metals & Mining	Ferroglobe	$0.00	0.63%	$604,206.88
78	RCMCX	Consumer Discretionary	Leisure Products	American Outdoor Brands	$0.00	0.63%	$601,873.26
79	RCMCX	Financials	Banks	HomeTrust Bancshares	$0.00	0.62%	$596,307.78
80	RCMCX	Health Care	Pharmaceuticals	Esperion Therapeutics	$0.00	0.61%	$583,774.90
81	RCMCX	Financials	Banks	HBT Financial	$0.00	0.61%	$578,859.05
82	RCMCX	Industrials	Construction & Engineering	Concrete Pumping Holdings	$0.00	0.60%	$576,241.38
83	RCMCX	Energy	Energy Equipment & Services	Ranger Energy Services Cl. A	$0.00	0.60%	$569,083.86
84	RCMCX	Energy	Energy Equipment & Services	Select Water Solutions Cl. A	$0.00	0.58%	$554,688.04
85	RCMCX	Financials	Banks	Esquire Financial Holdings	$0.00	0.57%	$542,297.91
86	RCMCX	Industrials	Electrical Equipment	LSI Industries	$0.00	0.56%	$535,456.96
87	RCMCX	Information Technology	Electronic Equipment, Instruments & Components	Arlo Technologies	$0.00	0.56%	$534,711.79
88	RCMCX	Consumer Discretionary	Leisure Products	MasterCraft Boat Holdings	$0.00	0.56%	$531,787.02
89	RCMCX	Health Care	Life Sciences Tools & Services	Maravai LifeSciences Holdings Cl. A	$0.00	0.55%	$529,126.00
90	RCMCX	Information Technology	Semiconductors & Semiconductor Equipment	inTEST Corporation	$0.00	0.55%	$524,842.20
91	RCMCX	Industrials	Trading Companies & Distributors	Titan Machinery	$0.00	0.54%	$519,917.76
92	RCMCX	Communication Services	Media	Magnite	$0.00	0.54%	$514,815.60
93	RCMCX	Materials	Chemicals	Core Molding Technologies	$0.00	0.54%	$512,036.90
94	RCMCX	Financials	Capital Markets	Silvercrest Asset Management Group Cl. A	$0.00	0.52%	$501,725.70
95	RCMCX	Industrials	Air Freight & Logistics	Forward Air	$0.00	0.52%	$501,450.00
96	RCMCX	Health Care	Biotechnology	ORIC Pharmaceuticals	$0.00	0.52%	$496,100.64
97	RCMCX	Consumer Discretionary	Specialty Retail	OneWater Marine Cl. A	$0.00	0.51%	$489,734.84
98	RCMCX	Industrials	Machinery	Lindsay Corporation	$0.00	0.51%	$487,628.19
99	RCMCX	Information Technology	Electronic Equipment, Instruments & Components	PAR Technology	$0.00	0.50%	$480,274.64
100	RCMCX	Energy	Oil, Gas & Consumable Fuels	SandRidge Energy	$0.00	0.49%	$472,322.76
101	RCMCX	Industrials	Marine Transportation	Clarkson	$0.00	0.48%	$461,097.58
102	RCMCX	Industrials	Air Freight & Logistics	Radiant Logistics	$0.00	0.45%	$428,256.15
103	RCMCX	Industrials	Machinery	Aebi Schmidt Holding	$0.00	0.44%	$418,348.15
104	RCMCX	Industrials	Machinery	Perma-Pipe International Holdings	$0.00	0.44%	$416,873.16
105	RCMCX	Industrials	Machinery	Energy Recovery	$0.00	0.43%	$413,279.64
106	RCMCX	Consumer Discretionary	Automobile Components	Stoneridge	$0.00	0.42%	$399,492.63
107	RCMCX	Information Technology	Communications Equipment	Ribbon Communications	$0.00	0.41%	$387,743.04
108	RCMCX	Health Care	Health Care Equipment & Supplies	Inogen	$0.00	0.40%	$386,514.24
109	RCMCX	Information Technology	Technology Hardware, Storage & Peripherals	AstroNova	$0.00	0.40%	$382,018.60
110	RCMCX	Industrials	Building Products	Janus International Group	$0.00	0.40%	$381,301.62
111	RCMCX	Consumer Discretionary	Specialty Retail	Bed Bath & Beyond	$0.00	0.40%	$380,303.16
112	RCMCX	Industrials	Aerospace & Defense	CPI Aerostructures	$0.00	0.39%	$376,734.60
113	RCMCX	Industrials	Electrical Equipment	American Superconductor	$0.00	0.39%	$371,981.50
114	RCMCX	Information Technology	Software	Similarweb	$0.00	0.39%	$370,762.49
115	RCMCX	Information Technology	Semiconductors & Semiconductor Equipment	Penguin Solutions	$0.00	0.39%	$370,622.88
116	RCMCX	Real Estate	Real Estate Management & Development	Marcus & Millichap	$0.00	0.38%	$367,923.78
117	RCMCX	Industrials	Machinery	Titan International	$0.00	0.38%	$359,874.63
118	RCMCX	Industrials	Professional Services	Kforce	$0.00	0.37%	$351,776.84
119	RCMCX	Consumer Discretionary	Household Durables	LGI Homes	$0.00	0.36%	$346,472.40
120	RCMCX	Consumer Discretionary	Textiles, Apparel & Luxury Goods	Lakeland Industries	$0.00	0.36%	$345,352.28
121	RCMCX	Consumer Discretionary	Household Durables	Hovnanian Enterprises Cl. A	$0.00	0.36%	$340,609.68
122	RCMCX	Industrials	Professional Services	TrueBlue	$0.00	0.35%	$330,148.00
123	RCMCX	Health Care	Life Sciences Tools & Services	Standard BioTools	$0.00	0.32%	$309,843.20
124	RCMCX	Financials	Financial Services	Repay Holdings Cl. A	$0.00	0.32%	$302,347.75
125	RCMCX	Information Technology	Semiconductors & Semiconductor Equipment	Alpha and Omega Semiconductor	$0.00	0.32%	$301,726.11
126	RCMCX	Health Care	Health Care Providers & Services	Cross Country Healthcare	$0.00	0.30%	$286,983.00
127	RCMCX	Consumer Discretionary	Hotels, Restaurants & Leisure	Target Hospitality	$0.00	0.27%	$258,370.56
128	RCMCX	Industrials	Trading Companies & Distributors	Alta Equipment Group	$0.00	0.27%	$254,775.60
129	RCMCX	Consumer Discretionary	Specialty Retail	J.Jill	$0.00	0.26%	$245,821.24
130	RCMCX	Health Care	Biotechnology	Absci Corporation	$0.00	0.25%	$236,108.97
131	RCMCX	Consumer Discretionary	Specialty Retail	Shoe Carnival	$0.00	0.25%	$235,290.32
132	RCMCX	Health Care	Health Care Equipment & Supplies	AngioDynamics	$0.00	0.22%	$214,864.56
133	RCMCX	Industrials	Professional Services	Resources Connection	$0.00	0.22%	$210,420.00
134	RCMCX	Information Technology	Semiconductors & Semiconductor Equipment	Aehr Test Systems	$0.00	0.21%	$205,049.64
135	RCMCX	Consumer Discretionary	Hotels, Restaurants & Leisure	Century Casinos	$0.00	0.21%	$198,458.61
136	RCMCX	Industrials	Construction & Engineering	Bowman Consulting Group	$0.00	0.21%	$196,964.30
137	RCMCX	Information Technology	Communications Equipment	NETGEAR	$0.00	0.19%	$185,495.86
138	RCMCX	Consumer Discretionary	Hotels, Restaurants & Leisure	First Watch Restaurant Group	$0.00	0.19%	$185,468.92
139	RCMCX	Financials	Capital Markets	Perella Weinberg Partners Cl. A	$0.00	0.19%	$176,996.30
140	RCMCX	Information Technology	Semiconductors & Semiconductor Equipment	NVE Corporation	$0.00	0.18%	$175,972.78
141	RCMCX	Industrials	Professional Services	Asure Software	$0.00	0.18%	$171,736.02
142	RCMCX	Industrials	Professional Services	Mistras Group	$0.00	0.18%	$171,091.25
143	RCMCX	Information Technology	Electronic Equipment, Instruments & Components	Kraken Robotics	$0.00	0.18%	$169,835.13
144	RCMCX	Health Care	Health Care Equipment & Supplies	Delcath Systems	$0.00	0.15%	$144,167.40
145	RCMCX	Communication Services	Interactive Media & Services	DHI Group	$0.00	0.13%	$119,579.40
146	RCMCX	Health Care	Life Sciences Tools & Services	Alpha Teknova	$0.00	0.11%	$103,382.80
147	RCMCX	Information Technology	Electronic Equipment, Instruments & Components	SmartRent Cl. A	$0.00	0.11%	$102,020.10
148	RCMCX	Health Care	Health Care Technology	SOPHiA GENETICS	$0.00	0.07%	$71,394.96
149	RCMCX	Financials	Banks	West Coast Community Bancorp	$0.00	0.07%	$68,118.75
150	RCMCX	Information Technology	Electronic Equipment, Instruments & Components	Luna Innovations	$0.00	0.05%	$43,655.70
151	RCMCX	Materials	Metals & Mining	Alphamin Resources	$0.00	0.04%	$37,413.61
152	RCMCX	Industrials	Machinery	Westport Fuel Systems	$0.00	0.03%	$33,100.31
153	RCMCX	Financials	Financial Services	Cass Information Systems	$0.00	0.02%	$20,676.96
154	RCMCX	Financials	Banks	Midway Investments	$0.00	0.00%	$0.00

Important Disclosure Information

Royce Capital Fund - Micro-Cap Portfolio

Holdings as of: 12/31/25

Please Upgrade Your Browser

You are about to leave Royce Investment Partners’ website

Disclaimer

You are about to leave Royce Investment Partners’ website

Disclaimer

You are about to leave Royce Investment Partners’ website

Disclaimer

We've noticed that you have visited our website a few times.Would you like to sign up?

We've noticed that you have signed up for our website, but have not validated yourself.Please click below to send a validation email.

To add a Fund please enter your email

Interested in learning more?

This content is for Financial Professionals only.

Interested in learning more?

This content is for Financial Professionals only.

Seeing this again?

Check your email and click the link we sent. (Or fill out the form again.)

Please update your information

Welcome to Royce Investment Partners

Learn more about opportunities from the small cap specialists

Thank You.

Russell 2000 Market Cycles (%)

to

Tell us what you think

You are currently logged in with the email , would you like to sign out and login with the Royce Funds associated with the email?

We've noticed that you have visited our website a few times.

Would you like to sign up?

We've noticed that you have signed up for our website, but have not validated yourself.

Please click below to send a validation email.

Check your email and click the link we sent.
(Or fill out the form again.)