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 Micro-Cap Fund

Holdings as of: 03/31/25

Download Holdings

#	Ticker	Asset Type	Sector	Industry	Name	Shares/ Principal	Price	% of Assets	Market Value
1		Repurchase Agreement			Fixed Income Clearing Corporation	8677063	$100.00	3.43%	$8,677,062.69
2	IMAX	Common Stock	Communication Services	Entertainment	IMAX Corporation	126183	$26.35	1.31%	$3,324,922.05
3	SII CN	Common Stock	Financials	Capital Markets	Sprott	68380	$44.80	1.21%	$3,063,450.61
4	AOUT	Common Stock	Consumer Discretionary	Leisure Products	American Outdoor Brands	247351	$12.16	1.19%	$3,007,788.16
5	BLFS	Common Stock	Health Care	Life Sciences Tools & Services	BioLife Solutions	130008	$22.84	1.17%	$2,969,382.72
6	NGS	Common Stock	Energy	Energy Equipment & Services	Natural Gas Services Group	134046	$21.97	1.16%	$2,944,990.62
7	BELFB	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	Bel Fuse Cl. B	39078	$74.86	1.16%	$2,925,379.08
8	LINC	Common Stock	Consumer Discretionary	Diversified Consumer Services	Lincoln Educational Services	183475	$15.87	1.15%	$2,911,748.25
9	SENEA	Common Stock	Consumer Staples	Food Products	Seneca Foods Cl. A	32688	$89.04	1.15%	$2,910,539.52
10	HBT	Common Stock	Financials	Banks	HBT Financial	129728	$22.41	1.15%	$2,907,204.48
11	NPKI	Common Stock	Energy	Energy Equipment & Services	NPK International	499400	$5.81	1.15%	$2,901,514.00
12	CECO	Common Stock	Industrials	Commercial Services & Supplies	CECO Environmental	125970	$22.80	1.13%	$2,872,116.00
13	ACU	Common Stock	Industrials	Commercial Services & Supplies	Acme United	71778	$39.61	1.12%	$2,843,126.58
14	BCML	Common Stock	Financials	Banks	BayCom Corp.	111510	$25.17	1.11%	$2,806,706.70
15	LEGH	Common Stock	Consumer Discretionary	Household Durables	Legacy Housing	111224	$25.22	1.11%	$2,805,069.28
16	ATRO	Common Stock	Industrials	Aerospace & Defense	Astronics Corporation	115396	$24.17	1.10%	$2,789,121.32
17	CTRN	Common Stock	Consumer Discretionary	Specialty Retail	Citi Trends	125661	$22.14	1.10%	$2,781,506.24
18	VSEC	Common Stock	Industrials	Commercial Services & Supplies	VSE Corporation	22899	$119.99	1.09%	$2,747,651.01
19	PAR	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	PAR Technology	44653	$61.34	1.08%	$2,739,015.02
20	MDI CN	Common Stock	Materials	Metals & Mining	Major Drilling Group International	486613	$5.57	1.07%	$2,711,953.21
21	LQDT	Common Stock	Industrials	Commercial Services & Supplies	Liquidity Services	86745	$31.01	1.06%	$2,689,962.45
22	TRNS	Common Stock	Industrials	Trading Companies & Distributors	Transcat	36084	$74.45	1.06%	$2,686,453.80
23	DGII	Common Stock	Information Technology	Communications Equipment	Digi International	96232	$27.83	1.06%	$2,678,136.56
24	SNEX	Common Stock	Financials	Capital Markets	StoneX Group	35001	$76.38	1.06%	$2,673,376.38
25	FARO	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	FARO Technologies	97241	$27.30	1.05%	$2,654,679.30
26	NWPX	Common Stock	Industrials	Construction & Engineering	Northwest Pipe	64263	$41.30	1.05%	$2,654,061.90
27	WNEB	Common Stock	Financials	Banks	Western New England Bancorp	285055	$9.30	1.05%	$2,651,011.50
28	HTB	Common Stock	Financials	Banks	HomeTrust Bancshares	77237	$34.28	1.05%	$2,647,684.36
29	STEL	Common Stock	Financials	Banks	Stellar Bancorp	95377	$27.66	1.04%	$2,638,127.82
30	ISTR	Common Stock	Financials	Banks	Investar Holding	148600	$17.61	1.03%	$2,616,846.00
31	AIOT	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	Powerfleet	474346	$5.49	1.03%	$2,604,159.54
32	SAMG	Common Stock	Financials	Capital Markets	Silvercrest Asset Management Group Cl. A	159158	$16.36	1.03%	$2,603,824.88
33	QNST	Common Stock	Communication Services	Interactive Media & Services	QuinStreet	145105	$17.84	1.02%	$2,588,673.20
34	MLAB	Common Stock	Health Care	Life Sciences Tools & Services	Mesa Laboratories	21561	$118.66	1.01%	$2,558,428.26
35	HONE	Common Stock	Financials	Banks	HarborOne Bancorp	243748	$10.37	1.00%	$2,527,666.76
36	DSGR	Common Stock	Industrials	Trading Companies & Distributors	Distribution Solutions Group	89213	$28.00	0.99%	$2,497,964.00
37	LIND	Common Stock	Consumer Discretionary	Hotels, Restaurants & Leisure	Lindblad Expeditions Holdings	267119	$9.27	0.98%	$2,476,193.13
38	ARLO	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	Arlo Technologies	246837	$9.87	0.96%	$2,436,281.19
39	EZPW	Common Stock	Financials	Consumer Finance	EZCORP Cl. A	163891	$14.72	0.95%	$2,412,475.52
40	LXFR	Common Stock	Industrials	Machinery	Luxfer Holdings	202871	$11.86	0.95%	$2,406,050.06
41	PLAB	Common Stock	Information Technology	Semiconductors & Semiconductor Equipment	Photronics	115056	$20.76	0.94%	$2,388,562.56
42	CKN LN	Common Stock	Industrials	Marine Transportation	Clarkson	52913	$44.00	0.92%	$2,328,420.32
43	GHM	Common Stock	Industrials	Machinery	Graham Corporation	80322	$28.82	0.91%	$2,314,880.04
44	CF CN	Common Stock	Financials	Capital Markets	Canaccord Genuity Group	390517	$5.84	0.90%	$2,282,233.40
45	CUBI	Common Stock	Financials	Banks	Customers Bancorp	44928	$50.20	0.89%	$2,255,385.60
46	AORT	Common Stock	Health Care	Health Care Equipment & Supplies	Artivion	91693	$24.58	0.89%	$2,253,813.94
47	ESTA	Common Stock	Health Care	Health Care Equipment & Supplies	Establishment Labs Holdings	55061	$40.81	0.89%	$2,246,764.11
48	NVMI	Common Stock	Information Technology	Semiconductors & Semiconductor Equipment	Nova	12163	$184.33	0.89%	$2,242,005.79
49	CASS	Common Stock	Financials	Financial Services	Cass Information Systems	50983	$43.25	0.87%	$2,205,014.75
50	NVEC	Common Stock	Information Technology	Semiconductors & Semiconductor Equipment	NVE Corporation	34143	$63.74	0.86%	$2,176,274.82
51	LASR	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	nLIGHT	279314	$7.77	0.86%	$2,170,269.78
52	CLFD	Common Stock	Information Technology	Communications Equipment	Clearfield	72448	$29.72	0.85%	$2,153,154.56
53	ICHR	Common Stock	Information Technology	Semiconductors & Semiconductor Equipment	Ichor Holdings	94793	$22.61	0.85%	$2,143,269.73
54	CDNA	Common Stock	Health Care	Biotechnology	CareDx	120744	$17.75	0.85%	$2,143,206.00
55	PKE	Common Stock	Industrials	Aerospace & Defense	Park Aerospace	153862	$13.45	0.82%	$2,069,443.90
56	NX	Common Stock	Industrials	Building Products	Quanex Building Products	108652	$18.59	0.80%	$2,019,840.68
57	VPG	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	Vishay Precision Group	83288	$24.09	0.79%	$2,006,407.92
58	MGNI	Common Stock	Communication Services	Media	Magnite	175591	$11.41	0.79%	$2,003,493.31
59	RELL	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	Richardson Electronics	174315	$11.16	0.77%	$1,945,355.40
60	RNGR	Common Stock	Energy	Energy Equipment & Services	Ranger Energy Services Cl. A	136951	$14.19	0.77%	$1,943,334.69
61	AMSC	Common Stock	Industrials	Electrical Equipment	American Superconductor	106450	$18.14	0.76%	$1,931,003.00
62	LGCY	Common Stock	Consumer Discretionary	Diversified Consumer Services	Legacy Education	268676	$7.17	0.76%	$1,926,406.92
63	DVAX	Common Stock	Health Care	Biotechnology	Dynavax Technologies	146689	$12.97	0.75%	$1,902,556.33
64	CVLG	Common Stock	Industrials	Ground Transportation	Covenant Logistics Group Cl. A	85572	$22.20	0.75%	$1,899,698.40
65	CLMB	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	Climb Global Solutions	17086	$110.76	0.75%	$1,892,445.36
66	KFRC	Common Stock	Industrials	Professional Services	Kforce	37823	$48.89	0.73%	$1,849,166.47
67	ALS CN	Common Stock	Materials	Metals & Mining	Altius Minerals	106161	$17.21	0.72%	$1,826,584.46
68	SLP	Common Stock	Health Care	Health Care Technology	Simulations Plus	74095	$24.52	0.72%	$1,816,809.40
69	NVEE	Common Stock	Industrials	Professional Services	NV5 Global	93600	$19.27	0.71%	$1,803,672.00
70	HLIT	Common Stock	Information Technology	Communications Equipment	Harmonic	182927	$9.59	0.69%	$1,754,269.93
71	HROW	Common Stock	Health Care	Pharmaceuticals	Harrow	65740	$26.60	0.69%	$1,748,684.00
72	IESC	Common Stock	Industrials	Construction & Engineering	IES Holdings	10327	$165.11	0.67%	$1,705,090.97
73	ONEW	Common Stock	Consumer Discretionary	Specialty Retail	OneWater Marine Cl. A	101548	$16.18	0.65%	$1,643,046.64
74	LPTH	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	LightPath Technologies Cl. A	808510	$2.01	0.64%	$1,625,105.10
75	UCTT	Common Stock	Information Technology	Semiconductors & Semiconductor Equipment	Ultra Clean Holdings	73682	$21.41	0.62%	$1,577,531.62
76	FRPH	Common Stock	Real Estate	Real Estate Management & Development	FRP Holdings	54032	$28.57	0.61%	$1,543,694.24
77	INTT	Common Stock	Information Technology	Semiconductors & Semiconductor Equipment	inTEST Corporation	220595	$6.99	0.61%	$1,541,959.05
78	AMN	Common Stock	Health Care	Health Care Providers & Services	AMN Healthcare Services	62753	$24.46	0.61%	$1,534,938.38
79	GSM	Common Stock	Materials	Metals & Mining	Ferroglobe	412754	$3.71	0.61%	$1,531,317.34
80	SHYF	Common Stock	Industrials	Machinery	Shyft Group (The)	187523	$8.09	0.60%	$1,517,061.07
81	PRV LN	Common Stock	Industrials	Machinery	Porvair	170247	$8.83	0.59%	$1,503,161.70
82	IGIC	Common Stock	Financials	Insurance	International General Insurance Holdings	57061	$26.31	0.59%	$1,501,274.91
83	VMEO	Common Stock	Communication Services	Interactive Media & Services	Vimeo	285306	$5.26	0.59%	$1,500,709.56
84	NBN	Common Stock	Financials	Banks	Northeast Bank	15983	$91.54	0.58%	$1,463,083.82
85	ALOT	Common Stock	Information Technology	Technology Hardware, Storage & Peripherals	AstroNova	157970	$9.19	0.57%	$1,451,744.30
86	OPY	Common Stock	Financials	Capital Markets	Oppenheimer Holdings Cl. A	24155	$59.63	0.57%	$1,440,362.65
87	WNC	Common Stock	Industrials	Machinery	Wabash National	130000	$11.05	0.57%	$1,436,500.00
88	RGP	Common Stock	Industrials	Professional Services	Resources Connection	217997	$6.54	0.56%	$1,425,700.38
89	BBCP	Common Stock	Industrials	Construction & Engineering	Concrete Pumping Holdings	259783	$5.46	0.56%	$1,418,415.18
90	PRO	Common Stock	Information Technology	Software	PROS Holdings	74082	$19.03	0.56%	$1,409,780.46
91	HOV	Common Stock	Consumer Discretionary	Household Durables	Hovnanian Enterprises Cl. A	13415	$104.71	0.55%	$1,404,684.65
92	MCFT	Common Stock	Consumer Discretionary	Leisure Products	MasterCraft Boat Holdings	80469	$17.22	0.55%	$1,385,676.18
93	AAOI	Common Stock	Information Technology	Communications Equipment	Applied Optoelectronics	88608	$15.35	0.54%	$1,360,132.80
94	SCVL	Common Stock	Consumer Discretionary	Specialty Retail	Shoe Carnival	61573	$21.99	0.53%	$1,353,990.27
95	KOPN	Common Stock	Information Technology	Semiconductors & Semiconductor Equipment	Kopin Corporation	1439111	$0.93	0.53%	$1,341,539.27
96	PRN CN	Common Stock	Health Care	Health Care Equipment & Supplies	Profound Medical	233460	$5.71	0.53%	$1,331,924.95
97	MEG	Common Stock	Industrials	Commercial Services & Supplies	Montrose Environmental Group	92539	$14.26	0.52%	$1,319,606.14
98	CAMT	Common Stock	Information Technology	Semiconductors & Semiconductor Equipment	Camtek	21936	$58.63	0.51%	$1,286,107.68
99	LMB	Common Stock	Industrials	Construction & Engineering	Limbach Holdings	16757	$74.47	0.49%	$1,247,893.79
100	MOD	Common Stock	Consumer Discretionary	Automobile Components	Modine Manufacturing	15939	$76.75	0.48%	$1,223,318.25
101	ADTN	Common Stock	Information Technology	Communications Equipment	ADTRAN Holdings	139994	$8.72	0.48%	$1,220,747.68
102	COHU	Common Stock	Information Technology	Semiconductors & Semiconductor Equipment	Cohu	82400	$14.71	0.48%	$1,212,104.00
103	RPAY	Common Stock	Financials	Financial Services	Repay Holdings Cl. A	216661	$5.57	0.48%	$1,206,801.77
104	MGTX	Common Stock	Health Care	Biotechnology	MeiraGTx Holdings	177675	$6.78	0.48%	$1,204,636.50
105	CMT	Common Stock	Materials	Chemicals	Core Molding Technologies	78404	$15.20	0.47%	$1,191,740.80
106	SD	Common Stock	Energy	Oil, Gas & Consumable Fuels	SandRidge Energy	97667	$11.42	0.44%	$1,115,357.14
107	LAKE	Common Stock	Consumer Discretionary	Textiles, Apparel & Luxury Goods	Lakeland Industries	54611	$20.31	0.44%	$1,109,149.41
108	SPRY	Common Stock	Health Care	Biotechnology	ARS Pharmaceuticals	88054	$12.58	0.44%	$1,107,719.32
109	CVU	Common Stock	Industrials	Aerospace & Defense	CPI Aerostructures	318190	$3.47	0.44%	$1,104,119.30
110	FORR	Common Stock	Industrials	Professional Services	Forrester Research	110655	$9.24	0.40%	$1,022,452.20
111	BYON	Common Stock	Consumer Discretionary	Specialty Retail	Beyond	173521	$5.80	0.40%	$1,006,421.80
112	TBI	Common Stock	Industrials	Professional Services	TrueBlue	185410	$5.31	0.39%	$984,527.10
113	TITN	Common Stock	Industrials	Trading Companies & Distributors	Titan Machinery	56663	$17.04	0.38%	$965,537.52
114	TWI	Common Stock	Industrials	Machinery	Titan International	113557	$8.39	0.38%	$952,743.23
115	AEHR	Common Stock	Information Technology	Semiconductors & Semiconductor Equipment	Aehr Test Systems	119656	$7.29	0.34%	$872,292.24
116	THRY	Common Stock	Communication Services	Media	Thryv Holdings	66073	$12.81	0.33%	$846,395.13
117	RLGT	Common Stock	Industrials	Air Freight & Logistics	Radiant Logistics	135526	$6.15	0.33%	$833,484.90
118	MRVI	Common Stock	Health Care	Life Sciences Tools & Services	Maravai LifeSciences Holdings Cl. A	369703	$2.21	0.32%	$817,043.63
119	SRI	Common Stock	Consumer Discretionary	Automobile Components	Stoneridge	177482	$4.59	0.32%	$814,642.38
120	ASYS	Common Stock	Information Technology	Semiconductors & Semiconductor Equipment	Amtech Systems	167883	$4.83	0.32%	$810,874.89
121	APYX	Common Stock	Health Care	Health Care Equipment & Supplies	Apyx Medical	591628	$1.37	0.32%	$810,530.36
122	EVI	Common Stock	Industrials	Trading Companies & Distributors	EVI Industries	47248	$16.78	0.31%	$792,821.44
123	ASUR	Common Stock	Industrials	Professional Services	Asure Software	82692	$9.55	0.31%	$789,708.60
124	PENG	Common Stock	Information Technology	Semiconductors & Semiconductor Equipment	Penguin Solutions	42504	$17.37	0.29%	$738,294.48
125	CNTY	Common Stock	Consumer Discretionary	Hotels, Restaurants & Leisure	Century Casinos	430485	$1.69	0.29%	$727,519.65
126	INGN	Common Stock	Health Care	Health Care Equipment & Supplies	Inogen	93112	$7.13	0.26%	$663,888.56
127	VRA	Common Stock	Consumer Discretionary	Textiles, Apparel & Luxury Goods	Vera Bradley	293415	$2.25	0.26%	$660,183.75
128	FFWM	Common Stock	Financials	Banks	First Foundation	122422	$5.19	0.25%	$635,370.18
129	NEWT	Common Stock	Financials	Financial Services	NewtekOne	50257	$11.96	0.24%	$601,073.72
130	ALTG	Common Stock	Industrials	Trading Companies & Distributors	Alta Equipment Group	116158	$4.69	0.22%	$544,781.02
131	REAL	Common Stock	Consumer Discretionary	Specialty Retail	RealReal	99922	$5.39	0.21%	$538,579.58
132	ABSI	Common Stock	Health Care	Biotechnology	Absci Corporation	210839	$2.51	0.21%	$529,205.89
133	DHX	Common Stock	Communication Services	Interactive Media & Services	DHI Group	329005	$1.39	0.18%	$457,316.95
134	MMI	Common Stock	Real Estate	Real Estate Management & Development	Marcus & Millichap	13100	$34.45	0.18%	$451,295.00
135	MXCT	Common Stock	Health Care	Life Sciences Tools & Services	MaxCyte	153457	$2.73	0.17%	$418,937.61
136	HBIO	Common Stock	Health Care	Life Sciences Tools & Services	Harvard Bioscience	638541	$0.57	0.14%	$361,414.21
137	LAB	Common Stock	Health Care	Life Sciences Tools & Services	Standard BioTools	300360	$1.08	0.13%	$324,388.80
138	LUNA!	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	Luna Innovations	445804	$0.68	0.12%	$303,146.72
139	WTTR	Common Stock	Energy	Energy Equipment & Services	Select Water Solutions Cl. A	27565	$10.50	0.11%	$289,432.50
140	AMRC	Common Stock	Industrials	Construction & Engineering	Ameresco Cl. A	23738	$12.08	0.11%	$286,755.04
141	JBI	Common Stock	Industrials	Building Products	Janus International Group	38739	$7.20	0.11%	$278,920.80
142	CVGI	Common Stock	Industrials	Machinery	Commercial Vehicle Group	222294	$1.15	0.10%	$255,638.10
143	DENN	Common Stock	Consumer Discretionary	Hotels, Restaurants & Leisure	Denny's Corporation	67685	$3.67	0.10%	$248,403.95
144	TTEC	Common Stock	Industrials	Professional Services	TTEC Holdings	54503	$3.29	0.07%	$179,314.87
145	RBBN	Common Stock	Information Technology	Communications Equipment	Ribbon Communications	42962	$3.92	0.07%	$168,411.04
146	AFM CN	Common Stock	Materials	Metals & Mining	Alphamin Resources	100088	$0.34	0.01%	$34,080.21
147	1515759D LN	Common Stock	Financials	Banks	Midway Investments	1858170	$0.00	0.00%	$0.00

Important Disclosure Information

Royce Micro-Cap Fund

Holdings as of: 03/31/25

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