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 Small-Cap Special Equity Fund

Holdings as of: 09/30/26

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#	Ticker	Asset Type	Sector	Industry	Name	Shares/ Principal	Price	% of Assets	Market Value
1		Repurchase Agreement			Fixed Income Clearing Corporation	87438203	$100.00	18.81%	$87,438,202.92
2	SMP	Common Stock	Consumer Discretionary	Automobile Components	Standard Motor Products	1040000	$37.10	8.30%	$38,584,000.00
3	MAN	Common Stock	Industrials	Professional Services	ManpowerGroup	600000	$55.58	7.17%	$33,348,000.00
4	HRB	Common Stock	Consumer Discretionary	Diversified Consumer Services	H&R Block	590000	$40.85	5.18%	$24,101,500.00
5	EBF	Common Stock	Industrials	Commercial Services & Supplies	Ennis	1000000	$22.51	4.84%	$22,510,000.00
6	MOV	Common Stock	Consumer Discretionary	Textiles, Apparel & Luxury Goods	Movado Group	655000	$33.28	4.69%	$21,798,400.00
7	M	Common Stock	Consumer Discretionary	Broadline Retail	Macy's	950000	$22.77	4.65%	$21,631,500.00
8	EEFT	Common Stock	Financials	Financial Services	Euronet Worldwide	320000	$62.87	4.33%	$20,118,400.00
9	FHI	Common Stock	Financials	Capital Markets	Federated Hermes Cl. B	335000	$56.37	4.06%	$18,883,950.00
10	SLVM	Common Stock	Materials	Paper & Forest Products	Sylvamo Corporation	549000	$32.68	3.86%	$17,941,320.00
11	ETD	Common Stock	Consumer Discretionary	Household Durables	Ethan Allen Interiors	800000	$20.91	3.60%	$16,728,000.00
12	IMKTA	Common Stock	Consumer Staples	Consumer Staples Distribution & Retail	Ingles Markets Cl. A	191000	$84.82	3.48%	$16,200,620.00
13	GENC	Common Stock	Industrials	Machinery	Gencor Industries	940000	$17.05	3.45%	$16,027,000.00
14	UFPI	Common Stock	Industrials	Building Products	UFP Industries	195000	$77.22	3.24%	$15,057,900.00
15	MLI	Common Stock	Industrials	Machinery	Mueller Industries	218000	$60.61	2.84%	$13,212,980.00
16	JBSS	Common Stock	Consumer Staples	Food Products	John B. Sanfilippo & Son	185000	$66.51	2.65%	$12,304,350.00
17	CMC	Common Stock	Materials	Metals & Mining	Commercial Metals	183000	$62.10	2.44%	$11,364,300.00
18	IIIN	Common Stock	Industrials	Building Products	Insteel Industries	345000	$29.13	2.16%	$10,049,850.00
19	NVEC	Common Stock	Information Technology	Semiconductors & Semiconductor Equipment	NVE Corporation	68500	$110.08	1.62%	$7,540,480.00
20	MTUS	Common Stock	Materials	Metals & Mining	Metallus	308000	$18.99	1.26%	$5,848,920.00
21	OSPN	Common Stock	Information Technology	Software	OneSpan	280000	$17.91	1.08%	$5,014,800.00
22	GAMI!	Common Stock	Financials	Capital Markets	GAMCO Investors Cl. A	165000	$25.32	0.90%	$4,177,800.00
23	OSK	Common Stock	Industrials	Machinery	Oshkosh Corporation	29000	$128.82	0.80%	$3,735,780.00
24	ODC	Common Stock	Consumer Staples	Household Products	Oil-Dri Corporation of America	40000	$90.59	0.78%	$3,623,600.00
25	GNTX	Common Stock	Consumer Discretionary	Automobile Components	Gentex Corporation	165000	$21.74	0.77%	$3,587,100.00
26	AOS	Common Stock	Industrials	Building Products	A. O. Smith Corporation	61000	$56.37	0.74%	$3,438,570.00
27	MMS	Common Stock	Industrials	Professional Services	MAXIMUS	45000	$53.19	0.51%	$2,393,550.00
28	IOSP	Common Stock	Materials	Chemicals	Innospec	23000	$95.32	0.47%	$2,192,360.00
29	KEQU	Common Stock	Health Care	Health Care Equipment & Supplies	Kewaunee Scientific	49700	$34.45	0.37%	$1,712,165.00
30	ROCK	Common Stock	Industrials	Building Products	Gibraltar Industries	32500	$39.60	0.28%	$1,287,000.00
31	MZTI	Common Stock	Consumer Staples	Food Products	Marzetti Company (The)	11000	$99.19	0.23%	$1,091,090.00
32	VSH	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	Vishay Intertechnology	30000	$32.55	0.21%	$976,500.00
33	USLM	Common Stock	Materials	Construction Materials	United States Lime & Minerals	6000	$113.11	0.15%	$678,660.00
34	MMI	Common Stock	Real Estate	Real Estate Management & Development	Marcus & Millichap	6000	$28.45	0.04%	$170,700.00
35	NATH	Common Stock	Consumer Discretionary	Hotels, Restaurants & Leisure	Nathan's Famous	1000	$101.43	0.02%	$101,430.00

Important Disclosure Information

Royce Small-Cap Special Equity Fund

Holdings as of: 09/30/26

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