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 Smaller-Companies Growth 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	9878280	$100.00	8.67%	$9,878,279.74
2	AVAV	Common Stock	Industrials	Aerospace & Defense	AeroVironment	17000	$314.89	4.70%	$5,353,130.00
3	GRDN	Common Stock	Consumer Staples	Consumer Staples Distribution & Retail	Guardian Pharmacy Services Cl. A	195596	$26.23	4.50%	$5,130,483.08
4	BWXT	Common Stock	Industrials	Aerospace & Defense	BWX Technologies	26500	$184.37	4.29%	$4,885,805.00
5	SBCF	Common Stock	Financials	Banks	Seacoast Banking Corporation of Florida	142000	$30.43	3.79%	$4,321,060.00
6	OSW	Common Stock	Consumer Discretionary	Diversified Consumer Services	OneSpaWorld Holdings	190000	$21.14	3.52%	$4,016,600.00
7	AGYS	Common Stock	Information Technology	Software	Agilysys	36500	$105.25	3.37%	$3,841,625.00
8	LTH	Common Stock	Consumer Discretionary	Hotels, Restaurants & Leisure	Life Time Group Holdings	139000	$27.60	3.37%	$3,836,400.00
9	CVO CN	Common Stock	Information Technology	Software	Coveo Solutions	614000	$6.19	3.34%	$3,803,032.26
10	SRTA	Common Stock	Industrials	Passenger Airlines	Strata Critical Medical	747181	$5.06	3.32%	$3,780,735.86
11	FTK	Common Stock	Materials	Chemicals	Flotek Industries	255000	$14.60	3.27%	$3,723,000.00
12	LMB	Common Stock	Industrials	Construction & Engineering	Limbach Holdings	38250	$97.12	3.26%	$3,714,840.00
13	PI	Common Stock	Information Technology	Semiconductors & Semiconductor Equipment	Impinj	20250	$180.75	3.21%	$3,660,187.50
14	FROG	Common Stock	Information Technology	Software	JFrog	77318	$47.33	3.21%	$3,659,460.94
15	BTSG	Common Stock	Health Care	Health Care Providers & Services	BrightSpring Health Services	120923	$29.56	3.14%	$3,574,483.88
16	VSEC	Common Stock	Industrials	Commercial Services & Supplies	VSE Corporation	21000	$166.24	3.06%	$3,491,040.00
17	CCB	Common Stock	Financials	Banks	Coastal Financial	30000	$108.17	2.85%	$3,245,100.00
18	SII CN	Common Stock	Financials	Capital Markets	Sprott	39000	$83.11	2.84%	$3,241,452.90
19	KRUS	Common Stock	Consumer Discretionary	Hotels, Restaurants & Leisure	Kura Sushi USA Cl. A	54000	$59.41	2.81%	$3,208,140.00
20	SMTC	Common Stock	Information Technology	Semiconductors & Semiconductor Equipment	Semtech Corporation	44000	$71.45	2.76%	$3,143,800.00
21	PVLA	Common Stock	Health Care	Biotechnology	Palvella Therapeutics	49493	$62.69	2.72%	$3,102,716.17
22	ATEC	Common Stock	Health Care	Health Care Equipment & Supplies	Alphatec Holdings	212000	$14.54	2.70%	$3,082,480.00
23	PAYS	Common Stock	Financials	Financial Services	Paysign	478667	$6.29	2.64%	$3,010,815.43
24	FTAI	Common Stock	Industrials	Trading Companies & Distributors	FTAI Aviation	17500	$166.86	2.56%	$2,920,050.00
25	AXSM	Common Stock	Health Care	Pharmaceuticals	Axsome Therapeutics	24000	$121.45	2.56%	$2,914,800.00
26	GLNG	Common Stock	Energy	Oil, Gas & Consumable Fuels	Golar LNG	72000	$40.41	2.55%	$2,909,520.00
27	PAR	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	PAR Technology	73000	$39.58	2.53%	$2,889,340.00
28	NVMI	Common Stock	Information Technology	Semiconductors & Semiconductor Equipment	Nova	9000	$319.66	2.52%	$2,876,940.00
29	ACVA	Common Stock	Industrials	Commercial Services & Supplies	ACV Auctions Cl. A	289000	$9.91	2.51%	$2,863,990.00
30	ETNB	Common Stock	Health Care	Biotechnology	89bio	192000	$14.70	2.48%	$2,822,400.00
31	SLAB	Common Stock	Information Technology	Semiconductors & Semiconductor Equipment	Silicon Laboratories	21500	$131.13	2.47%	$2,819,295.00
32	DSGR	Common Stock	Industrials	Trading Companies & Distributors	Distribution Solutions Group	93611	$30.08	2.47%	$2,815,818.88
33	BLND	Common Stock	Information Technology	Software	Blend Labs Cl. A	755667	$3.65	2.42%	$2,758,184.55
34	DSGX	Common Stock	Information Technology	Software	Descartes Systems Group (The)	29033	$94.23	2.40%	$2,735,779.59
35	ATS CN	Common Stock	Industrials	Machinery	ATS Corporation	104000	$26.16	2.39%	$2,720,873.75
36	ADTN	Common Stock	Information Technology	Communications Equipment	ADTRAN Holdings	285000	$9.38	2.34%	$2,673,300.00
37	CORT	Common Stock	Health Care	Pharmaceuticals	Corcept Therapeutics	30000	$83.11	2.19%	$2,493,300.00
38	AXGN	Common Stock	Health Care	Health Care Equipment & Supplies	Axogen	139000	$17.84	2.18%	$2,479,760.00
39	MDI CN	Common Stock	Materials	Metals & Mining	Major Drilling Group International	296000	$8.36	2.17%	$2,475,705.97
40	IBP	Common Stock	Consumer Discretionary	Household Durables	Installed Building Products	10000	$246.66	2.16%	$2,466,600.00
41	MGNI	Common Stock	Communication Services	Media	Magnite	111000	$21.78	2.12%	$2,417,580.00
42	SIBN	Common Stock	Health Care	Health Care Equipment & Supplies	SI-BONE	162000	$14.72	2.09%	$2,384,640.00
43	TXRH	Common Stock	Consumer Discretionary	Hotels, Restaurants & Leisure	Texas Roadhouse	14000	$166.15	2.04%	$2,326,100.00
44	PCTY	Common Stock	Industrials	Professional Services	Paylocity Holding	13786	$159.27	1.93%	$2,195,696.22
45	NN	Common Stock	Information Technology	Software	NextNav	139894	$14.30	1.75%	$2,000,484.20
46	CRMD	Common Stock	Health Care	Pharmaceuticals	CorMedix	171000	$11.63	1.74%	$1,988,730.00
47	MIR	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	Mirion Technologies Cl. A	84000	$23.26	1.71%	$1,953,840.00
48	CPRX	Common Stock	Health Care	Biotechnology	Catalyst Pharmaceuticals	99000	$19.70	1.71%	$1,950,300.00
49	VERX	Common Stock	Information Technology	Software	Vertex Cl. A	78500	$24.79	1.71%	$1,946,015.00
50	HROW	Common Stock	Health Care	Pharmaceuticals	Harrow	39700	$48.18	1.68%	$1,912,746.00
51	AGX	Common Stock	Industrials	Construction & Engineering	Argan	7000	$270.05	1.66%	$1,890,350.00
52	BLFS	Common Stock	Health Care	Life Sciences Tools & Services	BioLife Solutions	71000	$25.51	1.59%	$1,811,210.00
53	FRPT	Common Stock	Consumer Staples	Food Products	Freshpet	31000	$55.11	1.50%	$1,708,410.00
54	GBCI	Common Stock	Financials	Banks	Glacier Bancorp	35000	$48.67	1.49%	$1,703,450.00
55	TTMI	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	TTM Technologies	29500	$57.60	1.49%	$1,699,200.00
56	AMRC	Common Stock	Industrials	Construction & Engineering	Ameresco Cl. A	50000	$33.58	1.47%	$1,679,000.00
57	AUB	Common Stock	Financials	Banks	Atlantic Union Bankshares	47000	$35.29	1.45%	$1,658,630.00
58	GHM	Common Stock	Industrials	Machinery	Graham Corporation	30000	$54.90	1.44%	$1,647,000.00
59	TALK	Common Stock	Health Care	Health Care Providers & Services	Talkspace	587462	$2.76	1.42%	$1,621,395.12
60	UEC	Common Stock	Energy	Oil, Gas & Consumable Fuels	Uranium Energy	119000	$13.34	1.39%	$1,587,460.00
61	TWFG	Common Stock	Financials	Insurance	TWFG Cl. A	57000	$27.44	1.37%	$1,564,080.00
62	AKRO	Common Stock	Health Care	Biotechnology	Akero Therapeutics	32500	$47.48	1.35%	$1,543,100.00
63	SEI	Common Stock	Energy	Energy Equipment & Services	Solaris Energy Infrastructure Cl. A	35000	$39.97	1.23%	$1,398,950.00
64	ARLO	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	Arlo Technologies	81000	$16.95	1.20%	$1,372,950.00
65	OII	Common Stock	Energy	Energy Equipment & Services	Oceaneering International	53000	$24.78	1.15%	$1,313,340.00
66	ENVX	Common Stock	Industrials	Electrical Equipment	Enovix Corporation	119000	$9.97	1.04%	$1,186,430.00
67	FIGR	Common Stock	Information Technology	IT Services	Figure Technology Solutions Cl. A	31500	$36.37	1.00%	$1,145,655.00
68	ELVR	Common Stock	Materials	Metals & Mining	Elevra Lithium ADR	45000	$24.01	0.95%	$1,080,450.00
69	NGS	Common Stock	Energy	Energy Equipment & Services	Natural Gas Services Group	37000	$27.99	0.91%	$1,035,630.00
70	ALVO	Common Stock	Health Care	Biotechnology	Alvotech	124307	$8.19	0.89%	$1,018,074.33
71	LASR	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	nLIGHT	34000	$29.63	0.88%	$1,007,420.00
72	LGN	Common Stock	Industrials	Building Products	Legence Cl. A	32000	$30.81	0.86%	$985,920.00
73	MNMD	Common Stock	Health Care	Pharmaceuticals	Mind Medicine MindMed	81000	$11.79	0.84%	$954,990.00
74	ROOT	Common Stock	Financials	Insurance	Root Cl. A	10000	$89.51	0.79%	$895,100.00
75	PNG CN	Common Stock	Information Technology	Electronic Equipment, Instruments & Components	Kraken Robotics	180000	$3.26	0.52%	$587,195.52
76	TMDX	Common Stock	Health Care	Health Care Equipment & Supplies	TransMedics Group	4500	$112.20	0.44%	$504,900.00

Important Disclosure Information

Royce Smaller-Companies Growth Fund

Holdings as of: 09/30/25

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