Investment objective & strategy
As of April 29, 2025 · prospectusObjective. Royce Small-Cap Value Funds investment goal is long-term growth of capital.
Strategy. Royce Investment Partners (Royce), the Funds investment adviser, invests the Funds assets primarily in equity securities of small-cap companies that it believes are trading below its estimate of their current worth. Small-cap companies are those that have a market capitalization not greater than that of the largest company in the Russell 2000 Index at the time of its most recent reconstitution. Royce focuses on companies that it believes also possess financial strength, a strong business model, and the ability to generate and effectively allocate excess free cash flow. The Fund invests at least 80% of its net assets in equity securities of small-cap companies, under normal circumstances. The Fund may continue to hold or, in some cases, build positions in … Royce Investment Partners (Royce), the Funds investment adviser, invests the Funds assets primarily in equity securities of small-cap companies that it believes are trading below its estimate of their current worth. Small-cap companies are those that have a market capitalization not greater than that of the largest company in the Russell 2000 Index at the time of its most recent reconstitution. Royce focuses on companies that it believes also possess financial strength, a strong business model, and the ability to generate and effectively allocate excess free cash flow. The Fund invests at least 80% of its net assets in equity securities of small-cap companies, under normal circumstances. The Fund may continue to hold or, in some cases, build positions in companies with higher market capitalizations. Although the Fund generally focuses on securities of U.S. companies, it may invest up to 25% of its net assets (measured at the time of investment) in securities of companies headquartered in foreign countries. The Fund may invest in other investment companies that invest primarily in equity securities. The Fund may sell securities to, among other things, secure gains, limit losses, redeploy assets into what Royce deems to be more promising opportunities, and/or manage cash levels in the Funds portfolio.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| DIEBOLD NIXDORF INC | — | $2.18M | 2.19% |
| TD SYNNEX CORP | — | $2.04M | 2.05% |
| CATALYST PHARMACEUTICALS INC | — | $2.00M | 2.01% |
| TIMBERLAND BANCP | — | $1.98M | 1.99% |
| VILLAGE SUPER MKT INC CL A NEW | — | $1.98M | 1.99% |
| IBEX LTD | IBEX | $1.97M | 1.98% |
| MATADOR RESOURCES COMPANY | — | $1.85M | 1.86% |
| ALLISON TRANSMISSION HLDGS INC | — | $1.84M | 1.85% |
| LEAR CORP NEW | — | $1.83M | 1.84% |
| SM ENERGY CO | — | $1.83M | 1.84% |
Portfolio moves
Dec 31, 2025 → Mar 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| Royce Capital Fund - Small-Cap Portfolio · RCPFX, RCSSX | 100% | 1.14% |
| Distillate Small/Mid Cash Flow ETF · DSMC | 17% | 0.55% |
| Euclidean Fundamental Value ETF · ECML | 16% | 0.95% |
Advisers
| Firm | Role |
|---|---|
| Royce Investment Partners | Adviser |
Footnotes
- Expense ratio as of April 29, 2025, from the fund's prospectus.
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
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