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: 09/30/25

Download Holdings

#	Ticker	Asset Type	Sector	Industry	Name	Shares/ Principal	Price	% of Assets	Market Value
1		Repurchase Agreement			Fixed Income Clearing Corporation	6411584	$100.00	3.79%	$6,411,583.90
2	NPKI	Common Stock	Energy	Energy Equipment & Services	NPK International	336552	$11.31	2.25%	$3,806,403.12
3	CECO	Common Stock	Industrials	Commercial Services & Supplies	CECO Environmental	73872	$51.20	2.23%	$3,782,246.40
4	SII CN	Common Stock	Financials	Capital Markets	Sprott	44146	$83.11	2.17%	$3,669,158.45
5	LPTH	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	LightPath Technologies Cl. A	441815	$7.93	2.07%	$3,503,592.95
6	NGS	Common Stock	Energy	Energy Equipment & Services	Natural Gas Services Group	124253	$27.99	2.05%	$3,477,841.47
7	LASR	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	nLIGHT	115350	$29.63	2.02%	$3,417,820.50
8	NWPX	Common Stock	Industrials	Construction & Engineering	NWPX Infrastructure	64375	$52.93	2.01%	$3,407,368.75
9	ATRO	Common Stock	Industrials	Aerospace & Defense	Astronics Corporation	74403	$45.61	2.01%	$3,393,520.83
10	BELFB	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	Bel Fuse Cl. B	23841	$141.02	1.99%	$3,362,057.82
11	NVMI	Common Stock	Information Technology	Semiconductors & Semiconductor Equipment	Nova	10496	$319.66	1.98%	$3,355,151.36
12	AMRC	Common Stock	Industrials	Construction & Engineering	Ameresco Cl. A	99772	$33.58	1.98%	$3,350,343.76
13	MDI CN	Common Stock	Materials	Metals & Mining	Major Drilling Group International	399214	$8.36	1.97%	$3,338,974.61
14	EZPW	Common Stock	Financials	Consumer Finance	EZCORP Cl. A	173177	$19.04	1.95%	$3,297,290.08
15	ISTR	Common Stock	Financials	Banks	Investar Holding	141600	$23.21	1.94%	$3,286,536.00
16	GHM	Common Stock	Industrials	Machinery	Graham Corporation	59203	$54.90	1.92%	$3,250,244.70
17	IMAX	Common Stock	Communication Services	Entertainment	IMAX Corporation	97693	$32.75	1.89%	$3,199,445.75
18	WNEB	Common Stock	Financials	Banks	Western New England Bancorp	265796	$12.01	1.89%	$3,192,209.96
19	MEG	Common Stock	Industrials	Commercial Services & Supplies	Montrose Environmental Group	116185	$27.46	1.89%	$3,190,440.10
20	IESC	Common Stock	Industrials	Construction & Engineering	IES Holdings	7998	$397.65	1.88%	$3,180,404.70
21	DGII	Common Stock	Information Technology	Communications Equipment	Digi International	85635	$36.46	1.84%	$3,122,252.10
22	KOPN	Common Stock	Information Technology	Semiconductors & Semiconductor Equipment	Kopin Corporation	1278042	$2.43	1.83%	$3,105,642.06
23	LINC	Common Stock	Consumer Discretionary	Diversified Consumer Services	Lincoln Educational Services	131427	$23.50	1.82%	$3,088,534.50
24	HROW	Common Stock	Health Care	Pharmaceuticals	Harrow	64004	$48.18	1.82%	$3,083,712.72
25	PKE	Common Stock	Industrials	Aerospace & Defense	Park Aerospace	147356	$20.34	1.77%	$2,997,221.04
26	ESTA	Common Stock	Health Care	Health Care Equipment & Supplies	Establishment Labs Holdings	72547	$40.99	1.76%	$2,973,701.53
27	ICHR	Common Stock	Information Technology	Semiconductors & Semiconductor Equipment	Ichor Holdings	168916	$17.52	1.75%	$2,959,408.32
28	LXFR	Common Stock	Industrials	Machinery	Luxfer Holdings	209526	$13.90	1.72%	$2,912,411.40
29	AIOT	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	Powerfleet	547923	$5.24	1.70%	$2,871,116.52
30	CF CN	Common Stock	Financials	Capital Markets	Canaccord Genuity Group	370517	$7.72	1.69%	$2,859,346.54
31	CUBI	Common Stock	Financials	Banks	Customers Bancorp	43428	$65.37	1.68%	$2,838,888.36
32	AORT	Common Stock	Health Care	Health Care Equipment & Supplies	Artivion	66835	$42.34	1.67%	$2,829,793.90
33	UCTT	Common Stock	Information Technology	Semiconductors & Semiconductor Equipment	Ultra Clean Holdings	103150	$27.25	1.66%	$2,810,837.50
34	LEGH	Common Stock	Consumer Discretionary	Household Durables	Legacy Housing	101199	$27.51	1.64%	$2,783,984.49
35	STEL	Common Stock	Financials	Banks	Stellar Bancorp	91545	$30.34	1.64%	$2,777,475.30
36	LIND	Common Stock	Consumer Discretionary	Hotels, Restaurants & Leisure	Lindblad Expeditions Holdings	216687	$12.80	1.64%	$2,773,593.60
37	CLMB	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	Climb Global Solutions	20567	$134.84	1.64%	$2,773,254.28
38	SENEA	Common Stock	Consumer Staples	Food Products	Seneca Foods Cl. A	25486	$107.94	1.63%	$2,750,958.84
39	IGIC	Common Stock	Financials	Insurance	International General Insurance Holdings	117898	$23.20	1.62%	$2,735,233.60
40	BLFS	Common Stock	Health Care	Life Sciences Tools & Services	BioLife Solutions	105042	$25.51	1.58%	$2,679,621.42
41	ACU	Common Stock	Industrials	Commercial Services & Supplies	Acme United	62998	$41.18	1.53%	$2,594,257.64
42	DSGR	Common Stock	Industrials	Trading Companies & Distributors	Distribution Solutions Group	86213	$30.08	1.53%	$2,593,287.04
43	AMSC	Common Stock	Industrials	Electrical Equipment	American Superconductor	43497	$59.39	1.53%	$2,583,286.83
44	VPG	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	Vishay Precision Group	80488	$32.05	1.52%	$2,579,640.40
45	COHU	Common Stock	Information Technology	Semiconductors & Semiconductor Equipment	Cohu	126408	$20.33	1.52%	$2,569,874.64
46	VNP CN	Common Stock	Materials	Chemicals	5N Plus	210151	$12.22	1.52%	$2,568,562.56
47	CTRN	Common Stock	Consumer Discretionary	Specialty Retail	Citi Trends	82350	$31.03	1.51%	$2,555,320.50
48	AAOI	Common Stock	Information Technology	Communications Equipment	Applied Optoelectronics	96974	$25.93	1.49%	$2,514,535.82
49	MGNI	Common Stock	Communication Services	Media	Magnite	114008	$21.78	1.47%	$2,483,094.24
50	ALS CN	Common Stock	Materials	Metals & Mining	Altius Minerals	102661	$24.05	1.46%	$2,468,968.65
51	CLFD	Common Stock	Information Technology	Communications Equipment	Clearfield	71769	$34.38	1.46%	$2,467,418.22
52	ADTN	Common Stock	Information Technology	Communications Equipment	ADTRAN Holdings	262407	$9.38	1.45%	$2,461,377.66
53	VSEC	Common Stock	Industrials	Commercial Services & Supplies	VSE Corporation	14790	$166.24	1.45%	$2,458,689.60
54	LQDT	Common Stock	Industrials	Commercial Services & Supplies	Liquidity Services	89148	$27.43	1.44%	$2,445,329.64
55	ORIC	Common Stock	Health Care	Biotechnology	ORIC Pharmaceuticals	203120	$12.00	1.44%	$2,437,440.00
56	PRO	Common Stock	Information Technology	Software	PROS Holdings	105984	$22.91	1.43%	$2,428,093.44
57	LGCY	Common Stock	Consumer Discretionary	Diversified Consumer Services	Legacy Education	253058	$9.57	1.43%	$2,421,765.06
58	OPY	Common Stock	Financials	Capital Markets	Oppenheimer Holdings Cl. A	32695	$73.91	1.43%	$2,416,487.45
59	REAL	Common Stock	Consumer Discretionary	Specialty Retail	RealReal	227260	$10.63	1.43%	$2,415,773.80
60	EVI	Common Stock	Industrials	Trading Companies & Distributors	EVI Industries	75622	$31.61	1.41%	$2,390,411.42
61	RELL	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	Richardson Electronics	235829	$9.79	1.36%	$2,308,765.91
62	CAMT	Common Stock	Information Technology	Semiconductors & Semiconductor Equipment	Camtek	21936	$105.05	1.36%	$2,304,376.80
63	MOD	Common Stock	Consumer Discretionary	Automobile Components	Modine Manufacturing	15939	$142.16	1.34%	$2,265,888.24
64	BCML	Common Stock	Financials	Banks	BayCom Corp.	78401	$28.75	1.33%	$2,254,028.75
65	AEBI	Common Stock	Industrials	Machinery	Aebi Schmidt Holding	180583	$12.47	1.33%	$2,251,870.01
66	QNST	Common Stock	Communication Services	Interactive Media & Services	QuinStreet	141969	$15.47	1.30%	$2,196,260.43
67	TRNS	Common Stock	Industrials	Trading Companies & Distributors	Transcat	29743	$73.20	1.29%	$2,177,187.60
68	AMN	Common Stock	Health Care	Health Care Providers & Services	AMN Healthcare Services	112310	$19.36	1.28%	$2,174,321.60
69	CKN LN	Common Stock	Industrials	Marine Transportation	Clarkson	43970	$49.36	1.28%	$2,170,262.93
70	AOUT	Common Stock	Consumer Discretionary	Leisure Products	American Outdoor Brands	249711	$8.68	1.28%	$2,167,491.48
71	VMEO	Common Stock	Communication Services	Interactive Media & Services	Vimeo	274194	$7.75	1.26%	$2,125,003.50
72	NBN	Common Stock	Financials	Banks	Northeast Bank	21210	$100.16	1.26%	$2,124,393.60
73	CCB	Common Stock	Financials	Banks	Coastal Financial	19218	$108.17	1.23%	$2,078,811.06
74	BBBY	Common Stock	Consumer Discretionary	Specialty Retail	Bed Bath & Beyond	209215	$9.79	1.21%	$2,048,214.85
75	NVEC	Common Stock	Information Technology	Semiconductors & Semiconductor Equipment	NVE Corporation	31244	$65.27	1.20%	$2,039,295.88
76	ARLO	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	Arlo Technologies	114726	$16.95	1.15%	$1,944,605.70
77	WTTR	Common Stock	Energy	Energy Equipment & Services	Select Water Solutions Cl. A	179694	$10.69	1.13%	$1,920,928.86
78	HBT	Common Stock	Financials	Banks	HBT Financial	75642	$25.20	1.13%	$1,906,178.40
79	CVLG	Common Stock	Industrials	Ground Transportation	Covenant Logistics Group Cl. A	87421	$21.66	1.12%	$1,893,538.86
80	PSI CN	Common Stock	Energy	Energy Equipment & Services	Pason Systems	218074	$8.68	1.12%	$1,892,889.21
81	GSM	Common Stock	Materials	Metals & Mining	Ferroglobe	412754	$4.55	1.11%	$1,878,030.70
82	CBNA	Common Stock	Financials	Banks	Chain Bridge Bancorp Cl. A	56845	$32.73	1.10%	$1,860,536.85
83	PENG	Common Stock	Information Technology	Semiconductors & Semiconductor Equipment	Penguin Solutions	70556	$26.28	1.10%	$1,854,211.68
84	HTB	Common Stock	Financials	Banks	HomeTrust Bancshares	45224	$40.94	1.09%	$1,851,470.56
85	LNN	Common Stock	Industrials	Machinery	Lindsay Corporation	13135	$140.56	1.09%	$1,846,255.60
86	BBCP	Common Stock	Industrials	Construction & Engineering	Concrete Pumping Holdings	259783	$7.05	1.08%	$1,831,470.15
87	LMB	Common Stock	Industrials	Construction & Engineering	Limbach Holdings	18746	$97.12	1.08%	$1,820,611.52
88	HIFS	Common Stock	Financials	Banks	Hingham Institution for Savings	6764	$263.78	1.05%	$1,784,207.92
89	SAMG	Common Stock	Financials	Capital Markets	Silvercrest Asset Management Group Cl. A	111737	$15.75	1.04%	$1,759,857.75
90	RNGR	Common Stock	Energy	Energy Equipment & Services	Ranger Energy Services Cl. A	125052	$14.04	1.04%	$1,755,730.08
91	CTKB	Common Stock	Health Care	Life Sciences Tools & Services	Cytek Biosciences	500252	$3.47	1.03%	$1,735,874.44
92	MCFT	Common Stock	Consumer Discretionary	Leisure Products	MasterCraft Boat Holdings	80469	$21.46	1.02%	$1,726,864.74
93	HOV	Common Stock	Consumer Discretionary	Household Durables	Hovnanian Enterprises Cl. A	13415	$128.49	1.02%	$1,723,693.35
94	INTT	Common Stock	Information Technology	Semiconductors & Semiconductor Equipment	inTEST Corporation	220595	$7.81	1.02%	$1,722,846.95
95	CDNA	Common Stock	Health Care	Biotechnology	CareDx	117300	$14.54	1.01%	$1,705,542.00
96	ONEW	Common Stock	Consumer Discretionary	Specialty Retail	OneWater Marine Cl. A	106800	$15.84	1.00%	$1,691,712.00
97	ALOT	Common Stock	Information Technology	Technology Hardware, Storage & Peripherals	AstroNova	157970	$10.24	0.96%	$1,617,612.80
98	CMT	Common Stock	Materials	Chemicals	Core Molding Technologies	78404	$20.55	0.95%	$1,611,202.20
99	PAR	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	PAR Technology	40152	$39.58	0.94%	$1,589,216.16
100	NX	Common Stock	Industrials	Building Products	Quanex Building Products	110652	$14.22	0.93%	$1,573,471.44
101	HPS/A CN	Common Stock	Industrials	Electrical Equipment	Hammond Power Solutions Cl. A	17718	$88.71	0.93%	$1,571,792.97
102	JBI	Common Stock	Industrials	Building Products	Janus International Group	155864	$9.87	0.91%	$1,538,377.68
103	ESQ	Common Stock	Financials	Banks	Esquire Financial Holdings	15005	$102.06	0.90%	$1,531,335.28
104	LAKE	Common Stock	Consumer Discretionary	Textiles, Apparel & Luxury Goods	Lakeland Industries	100328	$14.80	0.88%	$1,484,854.40
105	SLP	Common Stock	Health Care	Health Care Technology	Simulations Plus	98187	$15.07	0.87%	$1,479,678.09
106	RPAY	Common Stock	Financials	Financial Services	Repay Holdings Cl. A	281458	$5.23	0.87%	$1,472,025.34
107	ERII	Common Stock	Industrials	Machinery	Energy Recovery	93200	$15.42	0.85%	$1,437,144.00
108	TITN	Common Stock	Industrials	Trading Companies & Distributors	Titan Machinery	85560	$16.74	0.85%	$1,432,274.40
109	INGN	Common Stock	Health Care	Health Care Equipment & Supplies	Inogen	174308	$8.17	0.84%	$1,424,096.36
110	SRI	Common Stock	Consumer Discretionary	Automobile Components	Stoneridge	185800	$7.62	0.84%	$1,415,796.00
111	RBBN	Common Stock	Information Technology	Communications Equipment	Ribbon Communications	371178	$3.80	0.83%	$1,410,476.40
112	MRVI	Common Stock	Health Care	Life Sciences Tools & Services	Maravai LifeSciences Holdings Cl. A	489809	$2.87	0.83%	$1,405,751.83
113	SMWB	Common Stock	Information Technology	Software	Similarweb	142528	$9.30	0.78%	$1,325,510.40
114	FRPH	Common Stock	Real Estate	Real Estate Management & Development	FRP Holdings	54032	$24.36	0.78%	$1,316,219.52
115	TBI	Common Stock	Industrials	Professional Services	TrueBlue	213916	$6.13	0.77%	$1,311,305.08
116	AOSL	Common Stock	Information Technology	Semiconductors & Semiconductor Equipment	Alpha and Omega Semiconductor	46883	$27.96	0.77%	$1,310,848.68
117	FFWM	Common Stock	Financials	Banks	First Foundation	232747	$5.57	0.77%	$1,296,400.79
118	LYTS	Common Stock	Industrials	Electrical Equipment	LSI Industries	54489	$23.61	0.76%	$1,286,485.29
119	WNC	Common Stock	Industrials	Machinery	Wabash National	130000	$9.87	0.76%	$1,283,100.00
120	CASS	Common Stock	Financials	Financial Services	Cass Information Systems	32308	$39.33	0.75%	$1,270,673.64
121	APYX	Common Stock	Health Care	Health Care Equipment & Supplies	Apyx Medical	591628	$2.14	0.75%	$1,266,083.92
122	AEHR	Common Stock	Information Technology	Semiconductors & Semiconductor Equipment	Aehr Test Systems	41946	$30.11	0.75%	$1,262,994.06
123	DENN	Common Stock	Consumer Discretionary	Hotels, Restaurants & Leisure	Denny's Corporation	239944	$5.23	0.74%	$1,254,907.12
124	MMI	Common Stock	Real Estate	Real Estate Management & Development	Marcus & Millichap	41706	$29.35	0.72%	$1,224,071.10
125	PRN CN	Common Stock	Health Care	Health Care Equipment & Supplies	Profound Medical	250402	$4.89	0.72%	$1,223,491.84
126	ALTG	Common Stock	Industrials	Trading Companies & Distributors	Alta Equipment Group	159824	$7.24	0.68%	$1,157,125.76
127	RLGT	Common Stock	Industrials	Air Freight & Logistics	Radiant Logistics	192778	$5.90	0.67%	$1,137,390.20
128	KFRC	Common Stock	Industrials	Professional Services	Kforce	37882	$29.98	0.67%	$1,135,702.36
129	ESPR	Common Stock	Health Care	Pharmaceuticals	Esperion Therapeutics	427422	$2.65	0.67%	$1,132,668.30
130	CNTY	Common Stock	Consumer Discretionary	Hotels, Restaurants & Leisure	Century Casinos	430485	$2.61	0.66%	$1,123,565.85
131	ABSI	Common Stock	Health Care	Biotechnology	Absci Corporation	366098	$3.04	0.66%	$1,112,937.92
132	SD	Common Stock	Energy	Oil, Gas & Consumable Fuels	SandRidge Energy	97667	$11.28	0.65%	$1,101,683.76
133	RGP	Common Stock	Industrials	Professional Services	Resources Connection	211756	$5.05	0.63%	$1,069,367.80
134	TWI	Common Stock	Industrials	Machinery	Titan International	136953	$7.56	0.61%	$1,035,364.68
135	SCVL	Common Stock	Consumer Discretionary	Specialty Retail	Shoe Carnival	48364	$20.79	0.59%	$1,005,487.56
136	MLAB	Common Stock	Health Care	Life Sciences Tools & Services	Mesa Laboratories	14198	$67.01	0.56%	$951,407.98
137	DHX	Common Stock	Communication Services	Interactive Media & Services	DHI Group	329005	$2.78	0.54%	$914,633.90
138	FWRD	Common Stock	Industrials	Air Freight & Logistics	Forward Air	34938	$25.64	0.53%	$895,810.32
139	LGIH	Common Stock	Consumer Discretionary	Household Durables	LGI Homes	16690	$51.71	0.51%	$863,039.90
140	LAB	Common Stock	Health Care	Life Sciences Tools & Services	Standard BioTools	651983	$1.30	0.50%	$847,577.90
141	CVU	Common Stock	Industrials	Aerospace & Defense	CPI Aerostructures	318190	$2.52	0.47%	$801,838.80
142	ASUR	Common Stock	Industrials	Professional Services	Asure Software	97543	$8.20	0.47%	$799,852.60
143	PPIH	Common Stock	Industrials	Machinery	Perma-Pipe International Holdings	27830	$23.43	0.39%	$652,056.90
144	PWP	Common Stock	Financials	Capital Markets	Perella Weinberg Partners Cl. A	27885	$21.32	0.35%	$594,508.20
145	VRA	Common Stock	Consumer Discretionary	Textiles, Apparel & Luxury Goods	Vera Bradley	293415	$2.01	0.35%	$589,764.15
146	HSII	Common Stock	Industrials	Professional Services	Heidrick & Struggles International	11239	$49.77	0.33%	$559,365.03
147	PNG CN	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	Kraken Robotics	165759	$3.26	0.32%	$540,738.56
148	JILL	Common Stock	Consumer Discretionary	Specialty Retail	J.Jill	30685	$17.15	0.31%	$526,247.75
149	LUNA!	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	Luna Innovations	445804	$1.10	0.29%	$490,384.40
150	FORR	Common Stock	Industrials	Professional Services	Forrester Research	29247	$10.60	0.18%	$310,018.20
151	WCCB!	Common Stock	Financials	Banks	West Coast Community Bancorp	6204	$42.40	0.16%	$263,049.60
152	AFM CN	Common Stock	Materials	Metals & Mining	Alphamin Resources	100088	$0.72	0.04%	$71,917.80
153	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: 09/30/25

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.)