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 - Small-Cap Portfolio

Holdings as of: 06/30/25

Download Holdings

#	Ticker	Asset Type	Sector	Industry	Name	Shares/ Principal	Price	% of Assets	Market Value
1	DBD	Common Stock	Information Technology	Technology Hardware, Storage & Peripherals	Diebold Nixdorf	73427	$55.40	1.99%	$4,067,855.80
2	IBEX	Common Stock	Industrials	Professional Services	IBEX	138120	$29.10	1.97%	$4,019,292.00
3	BKE	Common Stock	Consumer Discretionary	Specialty Retail	Buckle (The)	88589	$45.35	1.96%	$4,017,511.15
4	SANM	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	Sanmina Corporation	40735	$97.83	1.95%	$3,985,105.05
5	FLEX	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	Flex	78893	$49.92	1.93%	$3,938,338.56
6	EVR	Common Stock	Financials	Capital Markets	Evercore Cl. A	14555	$270.02	1.92%	$3,930,141.10
7	JBL	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	Jabil	17430	$218.10	1.86%	$3,801,483.00
8	VC	Common Stock	Consumer Discretionary	Automobile Components	Visteon Corporation	39991	$93.30	1.82%	$3,731,160.30
9	TIPT	Common Stock	Financials	Insurance	Tiptree	157397	$23.58	1.82%	$3,711,421.26
10	VLGEA	Common Stock	Consumer Staples	Consumer Staples Distribution & Retail	Village Super Market Cl. A	95455	$38.50	1.80%	$3,675,017.50
11	PHM	Common Stock	Consumer Discretionary	Household Durables	PulteGroup	34702	$105.46	1.79%	$3,659,672.92
12	LEA	Common Stock	Consumer Discretionary	Automobile Components	Lear Corporation	38362	$94.98	1.78%	$3,643,622.76
13	TSBK	Common Stock	Financials	Banks	Timberland Bancorp	114566	$31.20	1.75%	$3,574,459.20
14	ALSN	Common Stock	Industrials	Machinery	Allison Transmission Holdings	37022	$94.99	1.72%	$3,516,719.78
15	BHRB	Common Stock	Financials	Banks	Burke & Herbert Financial Services	57923	$59.73	1.69%	$3,459,740.79
16	UNTY	Common Stock	Financials	Banks	Unity Bancorp	72303	$47.08	1.66%	$3,404,025.24
17	TGNA	Common Stock	Communication Services	Media	TEGNA	198144	$16.76	1.62%	$3,320,893.44
18	SNX	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	TD SYNNEX	24246	$135.70	1.61%	$3,290,182.20
19	MOH	Common Stock	Health Care	Health Care Providers & Services	Molina Healthcare	10693	$297.90	1.56%	$3,185,444.70
20	TPH	Common Stock	Consumer Discretionary	Household Durables	Tri Pointe Homes	99606	$31.95	1.56%	$3,182,411.70
21	ARCB	Common Stock	Industrials	Ground Transportation	ArcBest Corporation	40542	$77.01	1.53%	$3,122,139.42
22	MTDR	Common Stock	Energy	Oil, Gas & Consumable Fuels	Matador Resources	64856	$47.72	1.51%	$3,094,928.32
23	FRBA	Common Stock	Financials	Banks	First Bank	199772	$15.47	1.51%	$3,090,472.84
24	MHO	Common Stock	Consumer Discretionary	Household Durables	M/I Homes	27432	$112.12	1.50%	$3,075,675.84
25	CHRD	Common Stock	Energy	Oil, Gas & Consumable Fuels	Chord Energy	31139	$96.85	1.47%	$3,015,812.15
26	CPRX	Common Stock	Health Care	Biotechnology	Catalyst Pharmaceuticals	138845	$21.70	1.47%	$3,012,936.50
27	STRL	Common Stock	Industrials	Construction & Engineering	Sterling Infrastructure	12791	$230.73	1.44%	$2,951,267.43
28	MTH	Common Stock	Consumer Discretionary	Household Durables	Meritage Homes	43825	$66.97	1.44%	$2,934,960.25
29	TNK	Common Stock	Energy	Oil, Gas & Consumable Fuels	Teekay Tankers Cl. A	70268	$41.72	1.43%	$2,931,580.96
30	ACT	Common Stock	Financials	Financial Services	Enact Holdings	78437	$37.15	1.43%	$2,913,934.55
31	GNK	Common Stock	Industrials	Marine Transportation	Genco Shipping & Trading	222726	$13.07	1.42%	$2,911,028.82
32	NEU	Common Stock	Materials	Chemicals	NewMarket Corporation	4182	$690.86	1.41%	$2,889,176.52
33	AMKR	Common Stock	Information Technology	Semiconductors & Semiconductor Equipment	Amkor Technology	135222	$20.99	1.39%	$2,838,309.78
34	PLUS	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	ePlus	38853	$72.10	1.37%	$2,801,301.30
35	BBSI	Common Stock	Industrials	Professional Services	Barrett Business Services	64204	$41.69	1.31%	$2,676,664.76
36	HFWA	Common Stock	Financials	Banks	Heritage Financial	110455	$23.84	1.29%	$2,633,247.20
37	UVSP	Common Stock	Financials	Banks	Univest Financial	87506	$30.04	1.29%	$2,628,680.24
38	FTDR	Common Stock	Consumer Discretionary	Diversified Consumer Services	frontdoor	44581	$58.94	1.29%	$2,627,604.14
39	COLL	Common Stock	Health Care	Pharmaceuticals	Collegium Pharmaceutical	88158	$29.57	1.27%	$2,606,832.06
40	MPB	Common Stock	Financials	Banks	Mid Penn Bancorp	91380	$28.20	1.26%	$2,576,916.00
41	ADEA	Common Stock	Information Technology	Software	Adeia	180441	$14.14	1.25%	$2,551,435.74
42	KFY	Common Stock	Industrials	Professional Services	Korn Ferry	34664	$73.33	1.24%	$2,541,911.12
43	CCNE	Common Stock	Financials	Banks	CNB Financial	110782	$22.86	1.24%	$2,532,476.52
44	OCFC	Common Stock	Financials	Banks	OceanFirst Financial	143081	$17.61	1.23%	$2,519,656.41
45	SM	Common Stock	Energy	Oil, Gas & Consumable Fuels	SM Energy	101122	$24.71	1.22%	$2,498,724.62
46	IMXI	Common Stock	Financials	Financial Services	International Money Express	246197	$10.09	1.21%	$2,484,127.73
47	TILE	Common Stock	Industrials	Commercial Services & Supplies	Interface	118115	$20.93	1.21%	$2,472,146.95
48	SIG	Common Stock	Consumer Discretionary	Specialty Retail	Signet Jewelers	30837	$79.55	1.20%	$2,453,083.35
49		Repurchase Agreement			Fixed Income Clearing Corporation	2353149	$100.00	1.15%	$2,353,149.46
50	ASO	Common Stock	Consumer Discretionary	Specialty Retail	Academy Sports & Outdoors	48542	$44.81	1.06%	$2,175,167.02
51	DCOM	Common Stock	Financials	Banks	Dime Community Bancshares	78424	$26.94	1.03%	$2,112,742.56
52	ETD	Common Stock	Consumer Discretionary	Household Durables	Ethan Allen Interiors	74341	$27.85	1.01%	$2,070,396.85
53	BELFB	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	Bel Fuse Cl. B	21180	$97.69	1.01%	$2,069,074.20
54	FSBW	Common Stock	Financials	Banks	FS Bancorp	52311	$39.38	1.01%	$2,060,007.18
55	MBC	Common Stock	Industrials	Building Products	MasterBrand	185644	$10.93	0.99%	$2,029,088.92
56	MLR	Common Stock	Industrials	Machinery	Miller Industries	42981	$44.46	0.93%	$1,910,935.26
57	WS	Common Stock	Materials	Metals & Mining	Worthington Steel	63721	$29.83	0.93%	$1,900,797.43
58	WSBC	Common Stock	Financials	Banks	WesBanco	59451	$31.63	0.92%	$1,880,435.13
59	JILL	Common Stock	Consumer Discretionary	Specialty Retail	J.Jill	125414	$14.64	0.90%	$1,836,060.96
60	TRST	Common Stock	Financials	Banks	TrustCo Bank Corp NY	54860	$33.42	0.90%	$1,833,421.20
61	KTB	Common Stock	Consumer Discretionary	Textiles, Apparel & Luxury Goods	Kontoor Brands	27718	$65.97	0.89%	$1,828,556.46
62	WSM	Common Stock	Consumer Discretionary	Specialty Retail	Williams-Sonoma	10507	$163.37	0.84%	$1,716,528.59
63	REPX	Common Stock	Energy	Oil, Gas & Consumable Fuels	Riley Exploration Permian	63389	$26.23	0.81%	$1,662,693.47
64	CNXN	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	PC Connection	25163	$65.78	0.81%	$1,655,222.14
65	SCVL	Common Stock	Consumer Discretionary	Specialty Retail	Shoe Carnival	87456	$18.71	0.80%	$1,636,301.76
66	SCS	Common Stock	Industrials	Commercial Services & Supplies	Steelcase Cl. A	154901	$10.43	0.79%	$1,615,617.43
67	CIVI	Common Stock	Energy	Oil, Gas & Consumable Fuels	Civitas Resources	58302	$27.52	0.78%	$1,604,471.04
68	WNEB	Common Stock	Financials	Banks	Western New England Bancorp	173647	$9.23	0.78%	$1,602,761.81
69	BLBD	Common Stock	Industrials	Machinery	Blue Bird	35671	$43.16	0.75%	$1,539,560.36
70	AMPH	Common Stock	Health Care	Pharmaceuticals	Amphastar Pharmaceuticals	66797	$22.96	0.75%	$1,533,659.12
71	CBT	Common Stock	Materials	Chemicals	Cabot Corporation	20403	$75.00	0.75%	$1,530,225.00
72	SLVM	Common Stock	Materials	Paper & Forest Products	Sylvamo Corporation	30448	$50.10	0.75%	$1,525,444.80
73	GNTX	Common Stock	Consumer Discretionary	Automobile Components	Gentex Corporation	67276	$21.99	0.72%	$1,479,399.24
74	BPRN	Common Stock	Financials	Banks	Princeton Bancorp	48059	$30.54	0.72%	$1,467,721.86
75	UFPI	Common Stock	Industrials	Building Products	UFP Industries	13703	$99.36	0.67%	$1,361,530.08
76	DMLP	Common Stock	Energy	Oil, Gas & Consumable Fuels	Dorchester Minerals L.P.	42602	$27.86	0.58%	$1,186,891.72
77	SIGA	Common Stock	Health Care	Pharmaceuticals	SIGA Technologies	181197	$6.52	0.58%	$1,181,404.44
78	CZWI	Common Stock	Financials	Banks	Citizens Community Bancorp	76671	$13.80	0.52%	$1,058,059.80
79	TRDA	Common Stock	Health Care	Biotechnology	Entrada Therapeutics	152663	$6.72	0.50%	$1,025,895.36
80	CAL	Common Stock	Consumer Discretionary	Specialty Retail	Caleres	82005	$12.22	0.49%	$1,002,101.10
81	CRGY	Common Stock	Energy	Oil, Gas & Consumable Fuels	Crescent Energy Cl. A	57252	$8.60	0.24%	$492,367.20

Important Disclosure Information

Royce Capital Fund - Small-Cap Portfolio

Holdings as of: 06/30/25

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