Portfolio Manager Lauren Romeo offers the investment thesis for Interparfums, which develops, distributes, and markets prestige fragrances under exclusive brand licenses and owned labels.

Portfolio Manager Jim Stoeffel and Assistant Portfolio Manager Andrew Palen detail the investment thesis for three key holdings in Royce Micro-Cap Fund.

Portfolio Manager Jim Stoeffel and Assistant Portfolio Manager Andrew Palen discuss the security selection criteria they use in Royce Micro-Cap Fund.

Lead Portfolio Manager Brendan Hartman, Portfolio Managers Jim Stoeffel and Jim Harvey, and Assistant Portfolio Manager Kavitha Venkatraman provide the investment thesis for 4 key portfolio positions in our Small-Cap Opportunistic Value Strategy.

PM Chip Skinner discusses the investment thesis for three key holdings in Royce Smaller-Companies Growth Fund.

Micro-cap stocks continue to lead the market so far in 2026 and off the last market low on 4/8/25. Portfolio Manager Jim Stoeffel and Assistant Portfolio Manager Andrew Palen look at what worked in Royce Micro-Cap Fund during 1Q26 while offering a confident long-term forecast for the Fund and its resurgent asset class.

Portfolio Managers Lauren Romeo, Jay Kaplan, Steven McBoyle, Andrew Palen, and Miles Lewis update investors on how our flagship portfolio, Royce Small-Cap Fund, performed in 1Q26 while Co-Chief Investment Officer and Portfolio Manager Francis Gannon details his optimistic long-term outlook.

Lead Portfolio Manager Brendan Hartman, Portfolio Managers Jim Stoeffel and Jim Harvey, and Assistant Portfolio Manager Kavitha Venkatraman discuss the success of our Small-Cap Opportunistic Value Strategy so far in 2026 while offering investors a look at where they are finding long-term opportunities.

Portfolio Manager Lauren Romeo makes the case for Arcosa, a Dallas-based company that provides infrastructure-related products and services.

Micro-cap stocks are leading the market off last April’s low, and Portfolio Manager Jim Stoeffel and Assistant Portfolio Manager Andrew Palen look at the factors that can help the asset class stay on top and discuss three holdings.

Lead Portfolio Manager Miles Lewis details why current conditions appear favorable for small-cap banks while offering the investment thesis for two non-bank holdings.

Portfolio Manager Steven McBoyle discusses how high-quality holdings in Royce Premier Fund are accelerating M&A activity, with an assist from private equity players looking for liquidity.

Twice a year, our portfolio managers deliver Manager Commentaries that provide timely investment insights. 2025’s Annual Manager Commentaries are now available, so you can get the latest outlooks from our investment teams and see what companies, industries, and sectors drove performance in 2025.

Co-Lead Portfolio Managers Lauren Romeo and Steven McBoyle and Assistant Portfolio Manager Andrew Palen update investors on the Strategy’s recent performance while providing an constructive long-term outlook for high-quality U.S. small-caps.

Lead Portfolio Manager Miles Lewis, Portfolio Manager Joe Hintz, and Assistant Portfolio Manager Jag Sriram update investors on recent performance and their highly constructive outlook.

Portfolio Managers Lauren Romeo, Jay Kaplan, Steven McBoyle, Andrew Palen, and Miles Lewis update investors on how our flagship portfolio, Royce Small-Cap Fund, performed in 4Q25 and the year as a whole while Co-Chief Investment Officer and Portfolio Manager Francis Gannon offers an optimistic long-term outlook.

Lead Portfolio Manager Brendan Hartman and Portfolio Manager Jim Stoeffel of Royce Small-Cap Opportunity Fund offer the investment thesis for two key positions.

Portfolio Manager Jim Harvey and Assistant Portfolio Manager Kavitha Venkatraman, who are part of the investment team for Royce Small-Cap Opportunity Fund, provide the investment case for 2 key positions.

Lead Portfolio Manager Miles Lewis looks at the recent sell-off of small-cap banks, explains why the perceived risks in the industry may be overblown, and highlights 3 key bank holdings in Royce Small-Cap Total Return Fund.

Co-Lead PMs Lauren Romeo and Steven McBoyle detail why high-quality small-caps may be poised to reassert leadership in the months ahead while offering the investment thesis for 4 high-confidence holdings in our Small-Cap Premier Strategy.

Portfolio Manager Mark Fischer surveys the non-U.S. small-cap landscape and goes in depth on 4 key holdings.

Portfolio Manager Charlie Dreifus updates investors on how our Small-Cap Special Equity Strategy performed in 3Q25.

PM Chip Skinner recaps recent performance for Royce Smaller-Companies Growth Fund before giving his perspective on the current small-cap landscape.

Lead Portfolio Manager Brendan Hartman, Portfolio Managers Jim Stoeffel and Jim Harvey, and Assistant Portfolio Manager Kavitha Venkatraman discuss the success of our Small-Cap Opportunistic Value Strategy in 3Q25 and year-to-date through 9/30/25 while offering investors a constructive outlook.

The portfolio management team of Royce Small-Cap Opportunity Fund—Brendan Hartman, Jim Harvey, Jim Stoeffel, and Kavitha Venkatraman—delve into the investment thesis for five key positions.

Co-Lead Portfolio Managers Lauren Romeo and Steven McBoyle, along with Assistant Portfolio Manager Andrew Palen, talk about four key holdings with what they think are high-quality attributes.

Micro-cap stocks have been on a tear following the market’s early April lows, and Portfolio Manager Jim Stoeffel and Assistant Portfolio Manager Andrew Palen use a multi-discipline long-term investment approach in this high risk/high reward asset class.

Portfolio Managers Miles Lewis and Chip Skinner on four small-caps with promising long-term prospects.

Lead Portfolio Manager Miles Lewis, Portfolio Manager Joe Hintz, and Assistant Portfolio Manager Jag Sriram update investors on a solid quarter and their cautious outlook.

Co-Lead Portfolio Managers Lauren Romeo and Steven McBoyle and Assistant Portfolio Manager Andrew Palen update investors on the Strategy’s recent performance while providing an optimistic long-term outlook for high-quality U.S. small-caps.

Portfolio Managers Lauren Romeo, Jay Kaplan, Steven McBoyle, Andrew Palen, and Miles Lewis update investors on how our flagship portfolio, Royce Small-Cap Fund, performed in 2Q25 and YTD while Co-Chief Investment Officer and Portfolio Manager Francis Gannon offers a constructive long-term outlook for the Fund.

Portfolio Manager Mark Fischer goes in depth on two U.K. holdings in Royce International Premier Fund, as well as two additional positions that are in the process of being acquired.

PM Chip Skinner talks about his data-driven process and the importance of avoiding pitfalls in Royce Smaller-Companies Growth Fund.

Portfolio Manager Steven McBoyle talks Quaker Houghton, a long-time holding that is not only executing well in a challenging environment but is also acting as an acquiror from private equity sellers that need liquidity.

The portfolio management team of Royce Small-Cap Opportunity Fund—Brendan Hartman, Jim Harvey, Jim Stoeffel, and Kavitha Venkatraman—delve into the investment thesis of four key positions.

Portfolio Manager Lauren Romeo talks about three key holdings, how she became a small-cap quality investor, and what company qualities matter most to her.

Miles Lewis talks about his investment style, the importance of a team-based approach, and how he came to Royce to manage Royce Small-Cap Total Return Fund.

Portfolio Manager Mark Fischer and Senior Analyst Yutetsu Ametani discuss how they uncovered an undervalued quality business in a Japanese software company, Zuken.

Portfolio Managers Miles Lewis, Lauren Romeo, Charlie Dreifus, and Mark Fischer discuss opportunities that increased volatility and plunging prices are creating.

Portfolio Manager Mark Fischer and Senior Analyst Yutetsu Ametani detail how Return on Net Required Operating Capital, or RORC, is helping them find quality small-caps in Japan.

Assistant Portfolio Manager Kavitha Venkatraman looks at the ongoing opportunities for long-term growth in the AdTech industry.

Portfolio Manager Joe Hintz details the high-conviction thesis for two holdings in Royce Small-Cap Total Return Fund.

Co-CIO Francis Gannon looks at four holdings in our flagship Fund.

Co-Lead Portfolio Managers Lauren Romeo and Steven McBoyle detail the investment case for two of 2024’s top contributors and two top detractors in our Small-Cap Premier Strategy.

PM Chip Skinner discusses his investment approach, two high-confidence holdings, and his optimistic outlook for Royce Smaller-Companies Growth Fund.

Lead Portfolio Manager Brendan Hartman, Portfolio Managers Jim Stoeffel and Jim Harvey, and Assistant Portfolio Manager Kavitha Venkatraman detail how our Small-Cap Opportunistic Value Strategy performed in the fourth quarter and in 2024 while updating investors on their optimistic outlook.

Lead Portfolio Manager Miles Lewis, Portfolio Manager Joe Hintz, and Assistant Portfolio Manager Jag Sriram update investors on a strong quarter while offering a cautiously confident outlook.

Portfolio Managers Lauren Romeo, Miles Lewis, Brendan Hartman, and Co-CIO Francis Gannon look at what might be next for small-caps as we head into next year.

PM Chip Skinner details what he likes about the payment acceptance and processing industry and discusses three key holdings in the category.

Portfolio Manager Charlie Dreifus discusses his distinctive investment approach and updates investors on his outlook for the Royce Small-Cap Special Equity Strategy.

Lauren Romeo talks about three high-confidence holdings, including two that are helping to power cutting-edge technology.

Portfolio Manager Jim Stoeffel and Assistant Portfolio Manager Andrew Palen detail their investment approach in our three micro-cap portfolios, discuss two high-conviction holdings, and offer an upbeat long-term outlook.

Lead Portfolio Manager Miles Lewis, Portfolio Manager Joe Hintz, and Assistant Portfolio Manager Jag Sriram discuss three key holdings in Royce Small-Cap Total Return Fund with Co-CIO Francis Gannon.

Co-Lead Portfolio Managers Lauren Romeo and Steven McBoyle update investors on the Strategy’s recent performance while providing an optimistic outlook for high-quality U.S. small-caps.

Portfolio Managers Lauren Romeo, Jay Kaplan, Steven McBoyle, Andrew Palen, and Miles Lewis update investors on how our flagship portfolio, Royce Small-Cap Fund, performed in 3Q24 while Co-Chief Investment Officer Francis Gannon offers a constructive long-term outlook for the Fund.

Portfolio Managers Brendan Hartman, Jim Harvey, Jim Stoeffel, and Assistant Portfolio Manager Kavitha Venkatraman discuss four key positions that exemplify their theme-driven investment approach.

Portfolio Manager Joe Hintz talks about how current volatility in Information Technology is creating long-term opportunities in Royce Small-Cap Total Return Fund.

Portfolio Manager Jim Stoeffel and Assistant Portfolio Manager Kavitha Venkatraman talk to Francis Gannon about their theme-driven opportunistic approach to small-cap value investing.

Portfolio Manager Charlie Dreifus and Assistant Portfolio Manager Tim Hipskind join Francis Gannon to discuss their accounting-centric methodology and detail their thesis on three key holdings.

Lead Portfolio Manager Miles Lewis and Assistant Portfolio Manager Joe Hintz discuss why they’re constructive on select small-cap banks in Royce Small-Cap Total Return Fund.

Portfolio Manager Mark Fischer and Senior Analyst Evan Choi talk to Francis Gannon about their search for high-quality non U.S. small-caps and offer details about two high-confidence holdings.

Portfolio Managers Lauren Romeo, Jay Kaplan, Steven McBoyle, and Miles Lewis weigh in on what investors may be missing as we head into the back half of the year.

Portfolio Managers Jim Stoeffel, Brendan Hartman, Jim Harvey, and Assistant Portfolio Manager Kavitha Venkatraman detail how our Small-Cap Opportunistic Value Strategy is investing in several areas poised to benefit from the development of Artificial Intelligence.

Lead Portfolio Manager Miles Lewis and Assistant Portfolio Manager Joe Hintz discuss the ever-evolving investment approach in their Quality Value Strategy with Co-CIO Francis Gannon.

Co-CIO Francis Gannon talks about the ways our Quantitative Research Group has enhanced our holistic approach to risk management.

Portfolio Manager Mark Fischer and Assistant Portfolio Manager Mark Rayner update investors on recent performance and their constructive long-term outlook for the Strategy.

Portfolio Managers Miles Lewis, Chuck Royce, and Assistant Portfolio Manager Joe Hintz update investors on a strong quarter and their cautious and constructive outlook.

Portfolio Manager Charlie Dreifus updates investors on how our Small-Cap Special Equity Strategy performed in 1Q24.

Portfolio Manager Jay Kaplan talks about 5 small-cap value holdings in industries such as specialty retail, capital markets, and building products.

Portfolio Manager Steven McBoyle details why this small-cap quality holding fits so well in Royce Premier Fund.

Portfolio Manager Jim Stoeffel and Assistant Portfolio Manager Kavitha Venkatraman discuss their theme-driven opportunistic approach to small-cap value investing.

Portfolio Manager Steven McBoyle talks to Co-Chief Investment Officer Francis Gannon about seven high-conviction holdings and the long-term prospects for small-cap quality.

Co-CIO Francis Gannon talks about the Fund’s impressive long-term record of more than 50 years and looks at what sets our small-cap flagship apart.

Portfolio Manager Jay Kaplan talks about 4 key small-cap value holdings in the furniture, trucking, and homebuilding industries.

Co-Lead Portfolio Managers Lauren Romeo and Steven McBoyle update investors on the Strategy’s strong year in 2023 while providing a bright outlook for U.S. small-cap quality.

Portfolio Managers Jim Stoeffel, Brendan Hartman, Jim Harvey, and Assistant Portfolio Manager Kavitha Venkatraman detail how our Small-Cap Opportunistic Value Strategy performed in 2023 and update investors and clients on their outlook.

Lead Portfolio Manager Chuck Royce and Portfolio Managers Lauren Romeo, Jay Kaplan, Steven McBoyle, Andrew Palen, and Miles Lewis update investors on how our flagship portfolio, Royce Pennsylvania Mutual Fund, performed in 4Q23 and in 2023 while offering their confident long-term outlook.

Portfolio Managers Chuck Royce, Lauren Romeo, Miles Lewis, Jay Kaplan, and Steven McBoyle weigh in on what may be next for small-caps as we head into next year.

Portfolio Manager Mark Fischer talks to Co-Chief Investment Officer Francis Gannon about what it will take for quality non-U.S. small caps to shine again.

Assistant Portfolio Manager Kavitha Venkatraman explains how a normalized rate environment can benefit our Small-Cap Opportunistic Value Strategy.

Portfolio Manager Charlie Dreifus and Senior Analyst Tim Hipskind join Co-CIO Francis Gannon to discuss our accounting-centric Small-Cap Special Equity Strategy, a key holding, and Charlie’s outlook.

Portfolio Manager Mark Fischer and Assistant Portfolio Manager Mark Rayner on the long-term prospects for quality non-U.S. small caps.

Portfolio Manager Charlie Dreifus updates investors on how our Small-Cap Special Equity Strategy performed in 3Q23 and why his outlook remains cautious.

Portfolio Managers Miles Lewis, Chuck Royce, and Assistant Portfolio Manager Joe Hintz update investors their optimistic outlook for their Quality Value Strategy.

Portfolio Manager Jay Kaplan on 4 electronics manufacturing services companies that are moving into higher-margin businesses.

Lead Portfolio Manager Miles Lewis and Assistant Portfolio Manager Joe Hintz detail the investment thesis for 2 Quality Value holdings in Royce Small-Cap Total Return Fund

Portfolio Managers Jim Harvey and Brendan Hartman discuss AI, two high-confidence holdings, and where they’ve been seeing compelling long-term opportunities with Co-CIO Francis Gannon.

Lead Portfolio Manager Miles Lewis and Assistant Portfolio Manager Joe Hintz discuss current opportunities in three key sectors in their Quality Value Strategy with Co-CIO Francis Gannon.

Portfolio Manager Chip Skinner discusses the critical investment themes of electrification and electric vehicles in Royce Smaller-Companies Growth Fund.

Co-Lead Portfolio Managers Lauren Romeo and Steven McBoyle update investors on the Strategy’s strong first half of 2023 while providing a bright outlook for U.S. small-cap quality.