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: 06/30/25

Download Holdings

#	Ticker	Asset Type	Sector	Industry	Name	Shares/ Principal	Price	% of Assets	Market Value
1		Repurchase Agreement			Fixed Income Clearing Corporation	3061079	$100.00	4.57%	$3,061,079.29
2	FTAI	Common Stock	Industrials	Trading Companies & Distributors	FTAI Aviation	20671	$115.04	3.55%	$2,377,991.84
3	MSM	Common Stock	Industrials	Trading Companies & Distributors	MSC Industrial Direct Cl. A	27801	$85.02	3.53%	$2,363,641.02
4	KD	Common Stock	Information Technology	IT Services	Kyndryl Holdings	56223	$41.96	3.53%	$2,359,117.08
5	AAP	Common Stock	Consumer Discretionary	Specialty Retail	Advance Auto Parts	50490	$46.49	3.51%	$2,347,280.10
6	ASO	Common Stock	Consumer Discretionary	Specialty Retail	Academy Sports & Outdoors	52086	$44.81	3.49%	$2,333,973.66
7	AGO	Common Stock	Financials	Insurance	Assured Guaranty	25814	$87.10	3.36%	$2,248,399.40
8	VNT	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	Vontier Corporation	56246	$36.90	3.10%	$2,075,477.40
9	SPNS	Common Stock	Information Technology	Software	Sapiens International	68606	$29.25	3.00%	$2,006,725.50
10	RNR	Common Stock	Financials	Insurance	RenaissanceRe Holdings	8146	$242.90	2.96%	$1,978,663.40
11	SEIC	Common Stock	Financials	Capital Markets	SEI Investments	21892	$89.86	2.94%	$1,967,215.12
12	ATR	Common Stock	Materials	Containers & Packaging	AptarGroup	12238	$156.43	2.86%	$1,914,390.34
13	AXS	Common Stock	Financials	Insurance	Axis Capital Holdings	18104	$103.82	2.81%	$1,879,557.28
14	TKR	Common Stock	Industrials	Machinery	Timken Company (The)	25860	$72.55	2.80%	$1,876,143.00
15	AER	Common Stock	Industrials	Trading Companies & Distributors	AerCap Holdings	15575	$117.00	2.72%	$1,822,275.00
16	KLIC	Common Stock	Information Technology	Semiconductors & Semiconductor Equipment	Kulicke & Soffa Industries	50067	$34.60	2.59%	$1,732,318.20
17	UFPI	Common Stock	Industrials	Building Products	UFP Industries	16076	$99.36	2.39%	$1,597,311.36
18	BALL	Common Stock	Materials	Containers & Packaging	Ball Corporation	28177	$56.09	2.36%	$1,580,447.93
19	ESI	Common Stock	Materials	Chemicals	Element Solutions	69360	$22.65	2.35%	$1,571,004.00
20	PSI CN	Common Stock	Energy	Energy Equipment & Services	Pason Systems	167102	$9.02	2.25%	$1,506,893.75
21	BOKF	Common Stock	Financials	Banks	BOK Financial	15414	$97.63	2.25%	$1,504,868.82
22	SLGN	Common Stock	Materials	Containers & Packaging	Silgan Holdings	27689	$54.18	2.24%	$1,500,190.02
23	HOMB	Common Stock	Financials	Banks	Home BancShares	50512	$28.46	2.15%	$1,437,571.52
24	GABC	Common Stock	Financials	Banks	German American Bancorp	36905	$38.51	2.12%	$1,421,211.55
25	KWR	Common Stock	Materials	Chemicals	Quaker Houghton	12269	$111.94	2.05%	$1,373,391.86
26	AIT	Common Stock	Industrials	Trading Companies & Distributors	Applied Industrial Technologies	5584	$232.45	1.94%	$1,298,000.80
27	TOWN	Common Stock	Financials	Banks	TowneBank	37318	$34.18	1.91%	$1,275,529.24
28	IBP	Common Stock	Consumer Discretionary	Household Durables	Installed Building Products	6970	$180.32	1.88%	$1,256,830.40
29	COHR	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	Coherent Corp.	13755	$89.21	1.83%	$1,227,083.55
30	BBWI	Common Stock	Consumer Discretionary	Specialty Retail	Bath & Body Works	40390	$29.96	1.81%	$1,210,084.40
31	MBIN	Common Stock	Financials	Financial Services	Merchants Bancorp	35540	$33.07	1.76%	$1,175,307.80
32	ENSG	Common Stock	Health Care	Health Care Providers & Services	Ensign Group (The)	7439	$154.26	1.72%	$1,147,540.14
33	SBCF	Common Stock	Financials	Banks	Seacoast Banking Corporation of Florida	39999	$27.62	1.65%	$1,104,772.38
34	GPK	Common Stock	Materials	Containers & Packaging	Graphic Packaging Holding Company	52003	$21.07	1.64%	$1,095,703.21
35	MRX	Common Stock	Financials	Capital Markets	Marex Group	27067	$39.47	1.60%	$1,068,334.49
36	KBR	Common Stock	Industrials	Professional Services	KBR	19005	$47.94	1.36%	$911,099.70
37	KIMBERA MM	Common Stock	Consumer Staples	Household Products	Kimberly-Clark de Mexico	447643	$1.83	1.23%	$820,641.06
38	GCMG	Common Stock	Financials	Capital Markets	GCM Grosvenor Cl. A	70708	$11.56	1.22%	$817,384.48
39	GBCI	Common Stock	Financials	Banks	Glacier Bancorp	17576	$43.08	1.13%	$757,174.08
40	WHD	Common Stock	Energy	Energy Equipment & Services	Cactus Cl. A	14866	$43.72	0.97%	$649,941.52
41	WAL	Common Stock	Financials	Banks	Western Alliance Bancorp	7918	$77.98	0.92%	$617,445.64
42	SPX LN	Common Stock	Industrials	Machinery	Spirax Group	7410	$81.74	0.91%	$605,702.95
43	WOR	Common Stock	Consumer Discretionary	Household Durables	Worthington Enterprises	8852	$63.64	0.84%	$563,341.28
44	AVTR	Common Stock	Health Care	Life Sciences Tools & Services	Avantor	41372	$13.46	0.83%	$556,867.12
45	LECO	Common Stock	Industrials	Machinery	Lincoln Electric Holdings	2255	$207.32	0.70%	$467,506.60
46	SSD	Common Stock	Industrials	Building Products	Simpson Manufacturing	2085	$155.31	0.48%	$323,821.35
47	KFY	Common Stock	Industrials	Professional Services	Korn Ferry	474	$73.33	0.05%	$34,758.42

Important Disclosure Information

Royce SMid-Cap Total Return Fund

Holdings as of: 06/30/25

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