# EDGAR Filing Document

**Accession Number:** 0000709364
**File Stem:** 0001752724-25-189552
**Filing Date:** 2025-8
**Character Count:** 25605
**Document Hash:** f0a8b5c0e1769a84f8d205b99e345669
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-189552.hdr.sgml**: 20250815

**ACCESSION NUMBER**: 0001752724-25-189552

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250815

**DATE AS OF CHANGE**: 20250815

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ROYCE FUND
- **CENTRAL INDEX KEY:** 0000709364

**ORGANIZATION NAME:**
- **EIN:** 133139046
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-03599
- **FILM NUMBER:** 251223201

**BUSINESS ADDRESS:**
- **STREET 1:** ONE MADISON AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10010
- **BUSINESS PHONE:** 2125084500

**MAIL ADDRESS:**
- **STREET 1:** ONE MADISON AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10010

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ROYCE VALUE FUND INC
- **DATE OF NAME CHANGE:** 19851103

## Series and Classes Contracts Data

### Royce Small-Cap Total Return Fund (Series ID: S000009510)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000026006 | Investment Class    | RYTRX           |
| C000026007 | Consultant Class    | RYTCX           |
| C000026008 | Service Class       | RYTFX           |
| C000026009 | Institutional Class | RTRIX           |
| C000038078 | R Class             | RTRRX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** ROYCE FUND

- **b. Investment Company Act file number:** 811-03599

- **c. CIK number of Registrant:** 0000709364

- **d. LEI of Registrant:** 2549002ZQ3R56YQP4I31

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** ONE MADISON AVENUE

  - **City:** NEW YORK

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10010

  - **Telephone number:** 212-508-4500

**Item A.2. Information about the Series.**

- **a. Name of Series:** Royce Small-Cap Total Return Fund

- **b. EDGAR series identifier (if any):** S000009510

- **c. LEI of Series:** 254900UK8XGKXK2Y4H10

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-06-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $923112379.60

**Total Liabilities:** $1069401.22

**Net Assets:** $922042978.38

**Cash Not Reported:** $142042.68

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000038078 | -4.88%               | 4.44%                | 3.25%                |
| Class ID C000026009 | -4.89%               | 4.53%                | 3.26%                |
| Class ID C000026006 | -4.78%               | 4.42%                | 3.32%                |
| Class ID C000026008 | -4.85%               | 4.38%                | 3.25%                |
| Class ID C000026007 | -4.90%               | 4.32%                | 3.34%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $9831463.29              | $-55178526.83                              |
| Month 2  | $-14759092.76            | $52927761.72                               |
| Month 3  | $1195334.59              | $26820434.55                               |

### Schedule of Portfolio Investments

| Name                                         | Title                                        | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| OneWater Marine Inc                          | OneWater Marine Inc                          | CUSIP: 68280L101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    306531 | NS      | $4104450.09   | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Kulicke & Soffa Industries Inc               | Kulicke & Soffa Industries Inc               | CUSIP: 501242101<br>LEI: 529900H6BEIRBF429744 | Long             | EC               | CORP              | US        |    567005 | NS      | $19618373.00  | 2.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Esquire Financial Holdings Inc               | Esquire Financial Holdings Inc               | CUSIP: 29667J101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     59376 | NS      | $5620532.16   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERISAFE Inc                                | AMERISAFE Inc                                | CUSIP: 03071H100<br>LEI: 2549002B4EXPBLGMNN22 | Long             | EC               | CORP              | US        |    280779 | NS      | $12278465.67  | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Marex Group PLC                              | Marex Group PLC                              | CUSIP: 000000000<br>LEI: 549300DWX0SVICJAL507 | Long             | EC               | CORP              | GB        |    307627 | NS      | $12142037.69  | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Walker & Dunlop Inc                          | Walker & Dunlop Inc                          | CUSIP: 93148P102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    198842 | NS      | $14014384.16  | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Pason Systems Inc                            | Pason Systems Inc                            | CUSIP: 702925108<br>LEI: 984500DC6T2FLR969F65 | Long             | EC               | CORP              | CA        |   1750467 | NS      | $15785375.26  | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Hingham Institution For Savings The          | Hingham Institution For Savings The          | CUSIP: 433323102<br>LEI: 2549009GDCGUR2T6KU55 | Long             | EC               | CORP              | US        |     57514 | NS      | $14283601.90  | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Nomad Foods Ltd                              | Nomad Foods Ltd                              | CUSIP: 000000000<br>LEI: 5493000ZZ1837DS2SI43 | Long             | EC               | CORP              | VG        |    792506 | NS      | $13464676.94  | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Tel Aviv Stock Exchange Ltd                  | Tel Aviv Stock Exchange Ltd                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | IL        |    252525 | NS      | $4880615.59   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| OceanFirst Financial Corp                    | OceanFirst Financial Corp                    | CUSIP: 675234108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    734080 | NS      | $12927148.80  | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| KBR Inc                                      | KBR Inc                                      | CUSIP: 48242W106<br>LEI: 254900OFQDXZRKRCV808 | Long             | EC               | CORP              | US        |    308085 | NS      | $14769594.90  | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| IDT Corp                                     | IDT Corp                                     | CUSIP: 448947507<br>LEI: 549300JNTN7ZMJDFCL56 | Long             | EC               | CORP              | US        |     35259 | NS      | $2408894.88   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Air Lease Corp                               | Air Lease Corp                               | CUSIP: 00912X302<br>LEI: 5493004NW4M4P8TMMK63 | Long             | EC               | CORP              | US        |    316952 | NS      | $18538522.48  | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Graphic Packaging Holding Co                 | Graphic Packaging Holding Co                 | CUSIP: 388689101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    647732 | NS      | $13647713.24  | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| GCM Grosvenor Inc                            | GCM Grosvenor Inc                            | CUSIP: 36831E108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    347952 | NS      | $4022325.12   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Wintrust Financial Corp                      | Wintrust Financial Corp                      | CUSIP: 97650W108<br>LEI: Q774KI4AW80FHFW33O61 | Long             | EC               | CORP              | US        |     30629 | NS      | $3797383.42   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| First Financial Bankshares Inc               | First Financial Bankshares Inc               | CUSIP: 32020R109<br>LEI: 549300XN3GTGOENGNV49 | Long             | EC               | CORP              | US        |    123387 | NS      | $4439464.26   | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Vontier Corp                                 | Vontier Corp                                 | CUSIP: 928881101<br>LEI: 549300VVSQLG4P5K4639 | Long             | EC               | CORP              | US        |    575056 | NS      | $21219566.40  | 2.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Barrett Business Services Inc                | Barrett Business Services Inc                | CUSIP: 068463108<br>LEI: 529900HXB6TMG0SR9Y34 | Long             | EC               | CORP              | US        |    553226 | NS      | $23063991.94  | 2.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Banc of California Inc                       | Banc of California Inc                       | CUSIP: 05990K106<br>LEI: 549300ZKWUJDP6LJ1X87 | Long             | EC               | CORP              | US        |    750352 | NS      | $10542445.60  | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Western Alliance Bancorp                     | Western Alliance Bancorp                     | CUSIP: 957638109<br>LEI: 5493003VJXZ5JXT9S762 | Long             | EC               | CORP              | US        |     93561 | NS      | $7295886.78   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Insperity Inc                                | Insperity Inc                                | CUSIP: 45778Q107<br>LEI: 5299000Q0KW7HY5DB751 | Long             | EC               | CORP              | US        |    240075 | NS      | $14433309.00  | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Origin Bancorp Inc                           | Origin Bancorp Inc                           | CUSIP: 68621T102<br>LEI: 54930055DO2Z4KO3NB45 | Long             | EC               | CORP              | US        |    464891 | NS      | $16615204.34  | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Cactus Inc                                   | Cactus Inc                                   | CUSIP: 127203107<br>LEI: 549300J3T8C9F8QFKV08 | Long             | EC               | CORP              | US        |    148523 | NS      | $6493425.56   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| International General Insurance Holdings Ltd | International General Insurance Holdings Ltd | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BM        |   1100106 | NS      | $26424546.12  | 2.87%             |  |  |  | No            |                  1 | On Loan: No      |
| BankUnited Inc                               | BankUnited Inc                               | CUSIP: 06652K103<br>LEI: 96OVUWEW5D4YX6PFXD91 | Long             | EC               | CORP              | US        |    414220 | NS      | $14742089.80  | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Compass Diversified Holdings                 | Compass Diversified Holdings                 | CUSIP: 20451Q104<br>LEI: 5299001SM1LBYANJRR58 | Long             | EC               | CORP              | US        |     28470 | NS      | $178791.60    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Axis Capital Holdings Ltd                    | Axis Capital Holdings Ltd                    | CUSIP: 000000000<br>LEI: 635400VD2NQBYAHMEM55 | Long             | EC               | CORP              | BM        |    113062 | NS      | $11738096.84  | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Assured Guaranty Ltd                         | Assured Guaranty Ltd                         | CUSIP: 000000000<br>LEI: 549300BBOQUJEPH87M14 | Long             | EC               | CORP              | BM        |    297067 | NS      | $25874535.70  | 2.81%             |  |  |  | No            |                  1 | On Loan: No      |
| German American Bancorp Inc                  | German American Bancorp Inc                  | CUSIP: 373865104<br>LEI: 5493002JDOI3GTNVUD76 | Long             | EC               | CORP              | US        |    310547 | NS      | $11959164.97  | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Douglas Dynamics Inc                         | Douglas Dynamics Inc                         | CUSIP: 25960R105<br>LEI: 529900CDFLKNQ0QT6580 | Long             | EC               | CORP              | US        |    310936 | NS      | $9163283.92   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Home BancShares Inc/AR                       | Home BancShares Inc/AR                       | CUSIP: 436893200<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    708233 | NS      | $20156311.18  | 2.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Core Laboratories Inc                        | Core Laboratories Inc                        | CUSIP: 21867A105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    573043 | NS      | $6601455.36   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Academy Sports & Outdoors Inc                | Academy Sports & Outdoors Inc                | CUSIP: 00402L107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    643343 | NS      | $28828199.83  | 3.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Kyndryl Holdings Inc                         | Kyndryl Holdings Inc                         | CUSIP: 50155Q100<br>LEI: 549300LQ4LWX2R8ZV130 | Long             | EC               | CORP              | US        |    515533 | NS      | $21631764.68  | 2.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Franklin Covey Co                            | Franklin Covey Co                            | CUSIP: 353469109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    612198 | NS      | $13970358.36  | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Towne Bank/Portsmouth VA                     | Towne Bank/Portsmouth VA                     | CUSIP: 89214P109<br>LEI: 54930039UO39UJGI7078 | Long             | EC               | CORP              | US        |    470371 | NS      | $16077280.78  | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Silgan Holdings Inc                          | Silgan Holdings Inc                          | CUSIP: 827048109<br>LEI: KAF673KJXD92C8KSLU49 | Long             | EC               | CORP              | US        |    331138 | NS      | $17941056.84  | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| International Game Technology PLC            | International Game Technology PLC            | CUSIP: 000000000<br>LEI: 549300UQ6KHRCZDRGZ76 | Long             | EC               | CORP              | GB        |    729997 | NS      | $11541252.57  | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Bel Fuse Inc                                 | Bel Fuse Inc                                 | CUSIP: 077347300<br>LEI: 2549009L4XYDBRRY6X39 | Long             | EC               | CORP              | US        |    152440 | NS      | $14891863.60  | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Merchants Bancorp/IN                         | Merchants Bancorp/IN                         | CUSIP: 58844R108<br>LEI: 54930008Y0GPVLF81889 | Long             | EC               | CORP              | US        |    435300 | NS      | $14395371.00  | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| YETI Holdings Inc                            | YETI Holdings Inc                            | CUSIP: 98585X104<br>LEI: 549300DSQICIGNT5GO63 | Long             | EC               | CORP              | US        |    565791 | NS      | $17833732.32  | 1.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Seacoast Banking Corp of Florida             | Seacoast Banking Corp of Florida             | CUSIP: 811707801<br>LEI: 549300V6IC06XYQYPG88 | Long             | EC               | CORP              | US        |    598847 | NS      | $16540154.14  | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| UFP Industries Inc                           | UFP Industries Inc                           | CUSIP: 90278Q108<br>LEI: 5493007KB485C9OV5572 | Long             | EC               | CORP              | US        |    203738 | NS      | $20243407.68  | 2.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Fixed Income Clearing Corp                   | FIXED INC CLEARING CORP.REPO                 | CUSIP: 000000000<br>LEI: 549300H47WTHXPU08X20 | Long             | RA               | CORP              | US        |  36914788 | PA      | $36914787.89  | 4.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Advance Auto Parts Inc                       | Advance Auto Parts Inc                       | CUSIP: 00751Y106<br>LEI: 529900UCNQ5H9FSL0Y70 | Long             | EC               | CORP              | US        |    540654 | NS      | $25135004.46  | 2.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Hackett Group Inc/The                        | Hackett Group Inc/The                        | CUSIP: 404609109<br>LEI: 5K016KLIRB6156644289 | Long             | EC               | CORP              | US        |   1016781 | NS      | $25846573.02  | 2.80%             |  |  |  | No            |                  1 | On Loan: No      |
| MSC Industrial Direct Co Inc                 | MSC Industrial Direct Co Inc                 | CUSIP: 553530106<br>LEI: 0XVKH0LN6YGOWO2EGO17 | Long             | EC               | CORP              | US        |    309021 | NS      | $26272965.42  | 2.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Donnelley Financial Solutions Inc            | Donnelley Financial Solutions Inc            | CUSIP: 25787G100<br>LEI: 549300O1NPY4J56QCU04 | Long             | EC               | CORP              | US        |    129721 | NS      | $7997299.65   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Healthcare Services Group Inc                | Healthcare Services Group Inc                | CUSIP: 421906108<br>LEI: 529900GVZ1D2FBYMS719 | Long             | EC               | CORP              | US        |   1578690 | NS      | $23727710.70  | 2.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Metropolitan Bank Holding Corp               | Metropolitan Bank Holding Corp               | CUSIP: 591774104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    145559 | NS      | $10189130.00  | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Glacier Bancorp Inc                          | Glacier Bancorp Inc                          | CUSIP: 37637Q105<br>LEI: 549300SMJAUKZB5D7V74 | Long             | EC               | CORP              | US        |    277936 | NS      | $11973482.88  | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Installed Building Products Inc              | Installed Building Products Inc              | CUSIP: 45780R101<br>LEI: 549300I95Y9P9YM5FI86 | Long             | EC               | CORP              | US        |     56631 | NS      | $10211701.92  | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Kimberly-Clark de Mexico SAB de CV           | Kimberly-Clark de Mexico SAB de CV           | CUSIP: 000000000<br>LEI: 549300JGHL56QT00KT54 | Long             | EC               | CORP              | MX        |   4113045 | NS      | $7540235.44   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| FTAI Aviation Ltd                            | FTAI Aviation Ltd                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |    169953 | NS      | $19551393.12  | 2.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Sapiens International Corp NV                | Sapiens International Corp NV                | CUSIP: 000000000<br>LEI: 2549009P4ZS02GC5QV68 | Long             | EC               | CORP              | KY        |    628643 | NS      | $18387807.75  | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| PACS Group Inc                               | PACS Group Inc                               | CUSIP: 69380Q107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    756099 | NS      | $9768799.08   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Atkore Inc                                   | Atkore Inc                                   | CUSIP: 047649108<br>LEI: 52990002TI38AM4RPV48 | Long             | EC               | CORP              | US        |    154604 | NS      | $10907312.20  | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Ingevity Corp                                | Ingevity Corp                                | CUSIP: 45688C107<br>LEI: 5493009UTFC4B5IMGF87 | Long             | EC               | CORP              | US        |    403359 | NS      | $17380739.31  | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Element Solutions Inc                        | Element Solutions Inc                        | CUSIP: 28618M106<br>LEI: 549300FLGN6P5CU20J91 | Long             | EC               | CORP              | US        |    774088 | NS      | $17533093.20  | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| RenaissanceRe Holdings Ltd                   | RenaissanceRe Holdings Ltd                   | CUSIP: 000000000<br>LEI: EK6GB9U3U58PDI411C94 | Long             | EC               | CORP              | BM        |     59777 | NS      | $14519833.30  | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Timken Co/The                                | Timken Co/The                                | CUSIP: 887389104<br>LEI: B0I35MLPFXZSE70ASS73 | Long             | EC               | CORP              | US        |    234436 | NS      | $17008331.80  | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-15

**Name of Applicant:** ROYCE FUND

**Signature:** John Schwartz

**Name of Signer:** John Schwartz

**Title:** Associate General Counsel