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 SMid-Cap Total Return Fund

Holdings as of: 12/31/25

Download Holdings

#	Ticker	Asset Type	Sector	Industry	Name	Shares/ Principal	Price	% of Assets	Market Value
1		Repurchase Agreement			Fixed Income Clearing Corporation	2156909	$100.00	6.90%	$2,156,908.67
2	FTAI	Common Stock	Industrials	Trading Companies & Distributors	FTAI Aviation	6462	$196.85	4.07%	$1,272,044.70
3	AGO	Common Stock	Financials	Insurance	Assured Guaranty	13250	$89.87	3.81%	$1,190,777.50
4	AAP	Common Stock	Consumer Discretionary	Specialty Retail	Advance Auto Parts	28497	$39.30	3.58%	$1,119,932.10
5	ASO	Common Stock	Consumer Discretionary	Specialty Retail	Academy Sports & Outdoors	22046	$49.96	3.52%	$1,101,418.16
6	KD	Common Stock	Information Technology	IT Services	Kyndryl Holdings	40677	$26.56	3.46%	$1,080,381.12
7	VNT	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	Vontier Corporation	26847	$37.18	3.19%	$998,171.46
8	MSM	Common Stock	Industrials	Trading Companies & Distributors	MSC Industrial Direct Cl. A	11738	$84.10	3.16%	$987,165.80
9	ATR	Common Stock	Materials	Containers & Packaging	AptarGroup	8030	$121.96	3.13%	$979,338.80
10	KLIC	Common Stock	Information Technology	Semiconductors & Semiconductor Equipment	Kulicke & Soffa Industries	20964	$45.56	3.06%	$955,119.84
11	SLGN	Common Stock	Materials	Containers & Packaging	Silgan Holdings	23240	$40.37	3.00%	$938,198.80
12	ESI	Common Stock	Materials	Chemicals	Element Solutions	35113	$24.99	2.81%	$877,473.87
13	KWR	Common Stock	Materials	Chemicals	Quaker Houghton	6226	$137.31	2.74%	$854,892.06
14	KBR	Common Stock	Industrials	Professional Services	KBR	20131	$40.20	2.59%	$809,266.20
15	GBCI	Common Stock	Financials	Banks	Glacier Bancorp	18146	$44.05	2.56%	$799,331.30
16	AER	Common Stock	Industrials	Trading Companies & Distributors	AerCap Holdings	5530	$143.76	2.54%	$794,992.80
17	UFPI	Common Stock	Industrials	Building Products	UFP Industries	8182	$91.05	2.38%	$744,971.10
18	TKR	Common Stock	Industrials	Machinery	Timken Company (The)	8775	$84.13	2.36%	$738,240.75
19	GABC	Common Stock	Financials	Banks	German American Bancorp	18814	$39.18	2.36%	$737,132.52
20	SEIC	Common Stock	Financials	Capital Markets	SEI Investments	8938	$82.02	2.35%	$733,094.76
21	BALL	Common Stock	Materials	Containers & Packaging	Ball Corporation	13818	$52.97	2.34%	$731,939.46
22	HOMB	Common Stock	Financials	Banks	Home BancShares	25674	$27.78	2.28%	$713,223.72
23	TOWN	Common Stock	Financials	Banks	TowneBank	20484	$33.37	2.19%	$683,551.08
24	MBIN	Common Stock	Financials	Financial Services	Merchants Bancorp	20001	$34.06	2.18%	$681,234.06
25	PSI CN	Common Stock	Energy	Energy Equipment & Services	Pason Systems	77964	$8.74	2.18%	$681,059.60
26	MRX	Common Stock	Financials	Capital Markets	Marex Group	17054	$38.36	2.09%	$654,191.44
27	COHR	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	Coherent Corp.	3302	$184.57	1.95%	$609,450.14
28	GPK	Common Stock	Materials	Containers & Packaging	Graphic Packaging Holding Company	37955	$15.06	1.83%	$571,602.30
29	BOKF	Common Stock	Financials	Banks	BOK Financial	4808	$118.46	1.82%	$569,555.68
30	RNR	Common Stock	Financials	Insurance	RenaissanceRe Holdings	1991	$281.16	1.79%	$559,789.56
31	KIMBERA MM	Common Stock	Consumer Staples	Household Products	Kimberly-Clark de Mexico	260441	$2.13	1.78%	$555,520.69
32	TNET	Common Stock	Industrials	Professional Services	TriNet Group	8707	$59.13	1.65%	$514,844.91
33	SPX LN	Common Stock	Industrials	Machinery	Spirax Group	5626	$91.45	1.65%	$514,512.59
34	SBCF	Common Stock	Financials	Banks	Seacoast Banking Corporation of Florida	14856	$31.42	1.49%	$466,775.52
35	AVTR	Common Stock	Health Care	Life Sciences Tools & Services	Avantor	40374	$11.46	1.48%	$462,686.04
36	AIT	Common Stock	Industrials	Trading Companies & Distributors	Applied Industrial Technologies	1693	$256.77	1.39%	$434,711.61
37	ENSG	Common Stock	Health Care	Health Care Providers & Services	Ensign Group (The)	2446	$174.20	1.36%	$426,093.20
38	AXS	Common Stock	Financials	Insurance	Axis Capital Holdings	3967	$107.09	1.36%	$424,826.03
39	IBP	Common Stock	Consumer Discretionary	Household Durables	Installed Building Products	1264	$259.39	1.05%	$327,868.96
40	BBWI	Common Stock	Consumer Discretionary	Specialty Retail	Bath & Body Works	15519	$20.08	1.00%	$311,621.52
41	LECO	Common Stock	Industrials	Machinery	Lincoln Electric Holdings	909	$239.64	0.70%	$217,832.76
42	SSD	Common Stock	Industrials	Building Products	Simpson Manufacturing	845	$161.47	0.44%	$136,442.15
43	GCMG	Common Stock	Financials	Capital Markets	GCM Grosvenor Cl. A	10710	$11.32	0.39%	$121,237.20
44	WOR	Common Stock	Consumer Discretionary	Household Durables	Worthington Enterprises	484	$51.57	0.08%	$24,959.88
45	KFY	Common Stock	Industrials	Professional Services	Korn Ferry	369	$66.02	0.08%	$24,361.38
46	WHD	Common Stock	Energy	Energy Equipment & Services	Cactus Cl. A	398	$45.68	0.06%	$18,180.64

Important Disclosure Information

Royce SMid-Cap Total Return Fund

Holdings as of: 12/31/25

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