# EDGAR Filing Document

**Accession Number:** 0001006387
**File Stem:** 0001752724-23-030768
**Filing Date:** 2023-2
**Character Count:** 45084
**Document Hash:** 5a66e773a69d9dccb116b8c91d503619
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-030768.hdr.sgml**: 20230221

**ACCESSION NUMBER**: 0001752724-23-030768

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230221

**DATE AS OF CHANGE**: 20230221

**PERIOD START**: 20221231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ROYCE CAPITAL FUND
- **CENTRAL INDEX KEY:** 0001006387
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07537
- **FILM NUMBER:** 23646681

**BUSINESS ADDRESS:**
- **STREET 1:** C/O ROYCE & ASSOCIATES, LLC
- **STREET 2:** 745 FIFTH AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10151
- **BUSINESS PHONE:** 2125084578

**MAIL ADDRESS:**
- **STREET 1:** C/O ROYCE & ASSOCIATES, LLC
- **STREET 2:** 745 FIFTH AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10151

## Series and Classes Contracts Data

### Royce Capital Fund - Micro-Cap Portfolio (Series ID: S000009496)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000025976 | Investment Class | RCMCX           |
| C000033015 | Service Class    | RCMSX           |

## 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 CAPITAL FUND

- **b. Investment Company Act file number:** 811-07537

- **c. CIK number of Registrant:** 0001006387

- **d. LEI of Registrant:** 254900HPH7VXNTMGMC75

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

  - **Street Address 1:** 745 FIFTH AVENUE

  - **City:** NEW YORK

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10151

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

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

- **a. Name of Series:** Royce Capital Fund - Micro-Cap Portfolio

- **b. EDGAR series identifier (if any):** S000009496

- **c. LEI of Series:** 254900GH9Y64MCQGF592

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

- **a. Date of fiscal year-end:** 2022-12-31

- **b. Date as of which information is reported:** 2022-12-31

**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:** $124219996.22

**Total Liabilities:** $1281745.46

**Net Assets:** $122938250.76

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000033015 | 10.45%               | 5.37%                | -4.01%               |
| Class ID C000025976 | 10.55%               | 5.30%                | -3.89%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-2708999.79             | $14522317.76                               |
| Month 2  | $-274845.60              | $6824992.33                                |
| Month 3  | $83448.48                | $-5113795.07                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Astronics Corp                              | Astronics Corp                              | CUSIP: 046433108<br>LEI: 549300NNXCF8H4MSMK17 | Long             | EC               | CORP              | US        |     67555 | NS      | $695816.50    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Camtek Ltd/Israel                           | Camtek Ltd/Israel                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | IL        |     39752 | NS      | $872953.92    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| OneWater Marine Inc                         | OneWater Marine Inc                         | CUSIP: 68280L101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     18800 | NS      | $537680.00    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Zumiez Inc                                  | Zumiez Inc                                  | CUSIP: 989817101<br>LEI: 549300J0PDF58P6HZD25 | Long             | EC               | CORP              | US        |     42600 | NS      | $926124.00    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Nova Ltd                                    | Nova Ltd                                    | CUSIP: 000000000<br>LEI: 529900B2DSWE5V3SC292 | Long             | EC               | CORP              | IL        |     11300 | NS      | $922984.00    | 0.75%             |  |  |  | No            |                  1 | On Loan: —       |
| Stoneridge Inc                              | Stoneridge Inc                              | CUSIP: 86183P102<br>LEI: PNBCIH9LE7WI83VJIF08 | Long             | EC               | CORP              | US        |     62800 | NS      | $1353968.00   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Kforce Inc                                  | Kforce Inc                                  | CUSIP: 493732101<br>LEI: 5493003RDQQDVXY2SK46 | Long             | EC               | CORP              | US        |     17400 | NS      | $954042.00    | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Vera Bradley Inc                            | Vera Bradley Inc                            | CUSIP: 92335C106<br>LEI: 52990005Q6LEJKXO7M51 | Long             | EC               | CORP              | US        |     64900 | NS      | $293997.00    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Profire Energy Inc                          | Profire Energy Inc                          | CUSIP: 74316X101<br>LEI: 5299000Z8I499RSMID74 | Long             | EC               | CORP              | US        |    612129 | NS      | $642735.45    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Western New England Bancorp Inc             | Western New England Bancorp Inc             | CUSIP: 958892101<br>LEI: 549300Y8QE4EI2LP6B42 | Long             | EC               | CORP              | US        |    169817 | NS      | $1606468.82   | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Fixed Income Clearing Corp                  | FIXED INC CLEARING CORP.REPO                | CUSIP: 000000000<br>LEI: 549300H47WTHXPU08X20 | Long             | RA               | CORP              | US        |   6001031 | PA      | $6001031.35   | 4.88%             |  |  |  | No            |                  2 | On Loan: No      |
| Cadre Holdings Inc                          | Cadre Holdings Inc                          | CUSIP: 12763L105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     40205 | NS      | $809728.70    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Alimak Group AB                             | Alimak Group AB                             | CUSIP: 000000000<br>LEI: 549300LC2ER06GDV6565 | Long             | EC               | CORP              | SE        |     80500 | NS      | $575504.20    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Heritage-Crystal Clean Inc                  | Heritage-Crystal Clean Inc                  | CUSIP: 42726M106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     50334 | NS      | $1634848.32   | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Universal Stainless & Alloy Products Inc    | Universal Stainless & Alloy Products Inc    | CUSIP: 913837100<br>LEI: 5493001OEIZDUGXZDE09 | Long             | EC               | CORP              | US        |    138147 | NS      | $990513.99    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| VSE Corp                                    | VSE Corp                                    | CUSIP: 918284100<br>LEI: 549300QWJYQDH4U5XI15 | Long             | EC               | CORP              | US        |     29000 | NS      | $1359520.00   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Ferroglobe PLC                              | Ferroglobe PLC                              | CUSIP: 000000000<br>LEI: 2138005GCFJACFTZUD90 | Long             | EC               | CORP              | GB        |    117100 | NS      | $450835.00    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Cutera Inc                                  | Cutera Inc                                  | CUSIP: 232109108<br>LEI: 529900NPKPEWJWR21Z42 | Long             | EC               | CORP              | US        |     22800 | NS      | $1008216.00   | 0.82%             |  |  |  | No            |                  1 | On Loan: —       |
| Luxfer Holdings PLC                         | Luxfer Holdings PLC                         | CUSIP: 000000000<br>LEI: 21380045UF5SJYZOXE41 | Long             | EC               | CORP              | GB        |     66100 | NS      | $906892.00    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| IES Holdings Inc                            | IES Holdings Inc                            | CUSIP: 44951W106<br>LEI: 549300687T8E6LN6EN72 | Long             | EC               | CORP              | US        |     24400 | NS      | $867908.00    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| AtriCure Inc                                | AtriCure Inc                                | CUSIP: 04963C209<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     17500 | NS      | $776650.00    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Harmonic Inc                                | Harmonic Inc                                | CUSIP: 413160102<br>LEI: 549300LRGRD8XC9BTL66 | Long             | EC               | CORP              | US        |    104100 | NS      | $1363710.00   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Harvard Bioscience Inc                      | Harvard Bioscience Inc                      | CUSIP: 416906105<br>LEI: 549300VLGB1D47GGC642 | Long             | EC               | CORP              | US        |    254768 | NS      | $705707.36    | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| DZS Inc                                     | DZS Inc                                     | CUSIP: 268211109<br>LEI: 549300JL6GXPZ9SNGD29 | Long             | EC               | CORP              | US        |     73100 | NS      | $926908.00    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Powerfleet Inc                              | Powerfleet Inc                              | CUSIP: 73931J109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    147394 | NS      | $396489.86    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| American Superconductor Corp                | American Superconductor Corp                | CUSIP: 030111207<br>LEI: 549300S9YT8Z8LOK4452 | Long             | EC               | CORP              | US        |    154300 | NS      | $567824.00    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Silvercrest Asset Management Group Inc      | Silvercrest Asset Management Group Inc      | CUSIP: 828359109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     72484 | NS      | $1360524.68   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Resources Connection Inc                    | Resources Connection Inc                    | CUSIP: 76122Q105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     80054 | NS      | $1471392.52   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Porvair PLC                                 | Porvair PLC                                 | CUSIP: 000000000<br>LEI: 213800ECKHS8LAQO3C45 | Long             | EC               | CORP              | GB        |    130700 | NS      | $973340.23    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| American Outdoor Brands Inc                 | American Outdoor Brands Inc                 | CUSIP: 02875D109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     72847 | NS      | $729926.94    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Surmodics Inc                               | Surmodics Inc                               | CUSIP: 868873100<br>LEI: 549300H76KXCAAGUS878 | Long             | EC               | CORP              | US        |     27578 | NS      | $940961.36    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Cohu Inc                                    | Cohu Inc                                    | CUSIP: 192576106<br>LEI: 529900FJPORJ3JJ2XS33 | Long             | EC               | CORP              | US        |     39400 | NS      | $1262770.00   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Genasys Inc                                 | Genasys Inc                                 | CUSIP: 36872P103<br>LEI: 549300W0ZVKXG9NQ7D23 | Long             | EC               | CORP              | US        |    193378 | NS      | $715498.60    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| QuinStreet Inc                              | QuinStreet Inc                              | CUSIP: 74874Q100<br>LEI: 549300TP8MFBFPOS4Y78 | Long             | EC               | CORP              | US        |     97600 | NS      | $1400560.00   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Clearfield Inc                              | Clearfield Inc                              | CUSIP: 18482P103<br>LEI: 529900M4S2OQ1ADPR537 | Long             | EC               | CORP              | US        |     13200 | NS      | $1242648.00   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Investar Holding Corp                       | Investar Holding Corp                       | CUSIP: 46134L105<br>LEI: 54930001EK2YM28LOJ08 | Long             | EC               | CORP              | US        |     73510 | NS      | $1582670.30   | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Modine Manufacturing Co                     | Modine Manufacturing Co                     | CUSIP: 607828100<br>LEI: Z35SZFYJR8GZZRSIUU09 | Long             | EC               | CORP              | US        |     79800 | NS      | $1584828.00   | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| LightPath Technologies Inc                  | LightPath Technologies Inc                  | CUSIP: 532257805<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    368300 | NS      | $449326.00    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Wabash National Corp                        | Wabash National Corp                        | CUSIP: 929566107<br>LEI: 5299004ZAWHQZI5XO485 | Long             | EC               | CORP              | US        |     66800 | NS      | $1509680.00   | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| JOANN Inc                                   | JOANN Inc                                   | CUSIP: 47768J101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     62400 | NS      | $177840.00    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| StoneX Group Inc                            | StoneX Group Inc                            | CUSIP: 861896108<br>LEI: 549300JUF07L8VF02M60 | Long             | EC               | CORP              | US        |     15900 | NS      | $1515270.00   | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Shoe Carnival Inc                           | Shoe Carnival Inc                           | CUSIP: 824889109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     45800 | NS      | $1095078.00   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| EMCORE Corp                                 | EMCORE Corp                                 | CUSIP: 290846203<br>LEI: 529900B9OHDEWU534K08 | Long             | EC               | CORP              | US        |    165700 | NS      | $159486.25    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Distribution Solutions Group Inc            | Distribution Solutions Group Inc            | CUSIP: 520776105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     29187 | NS      | $1075832.82   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| NV5 Global Inc                              | NV5 Global Inc                              | CUSIP: 62945V109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10700 | NS      | $1415824.00   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Shyft Group Inc/The                         | Shyft Group Inc/The                         | CUSIP: 825698103<br>LEI: 549300YY0TB51BGRV994 | Long             | EC               | CORP              | US        |     38300 | NS      | $952138.00    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Concrete Pumping Holdings Inc               | Concrete Pumping Holdings Inc               | CUSIP: 206704108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    121000 | NS      | $707850.00    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| CRA International Inc                       | CRA International Inc                       | CUSIP: 12618T105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     13196 | NS      | $1615586.28   | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| OrthoPediatrics Corp                        | OrthoPediatrics Corp                        | CUSIP: 68752L100<br>LEI: 5493000KUTPFGOPAT717 | Long             | EC               | CORP              | US        |     22100 | NS      | $878033.00    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| NVE Corp                                    | NVE Corp                                    | CUSIP: 629445206<br>LEI: 5299003C1ATTWX8X0112 | Long             | EC               | CORP              | US        |     18100 | NS      | $1171975.00   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| AstroNova Inc                               | AstroNova Inc                               | CUSIP: 04638F108<br>LEI: 549300D8PFP62QX00223 | Long             | EC               | CORP              | US        |     90862 | NS      | $1164850.84   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| MeiraGTx Holdings plc                       | MeiraGTx Holdings plc                       | CUSIP: 000000000<br>LEI: 54930007YV6NYIOGFZ57 | Long             | EC               | CORP              | KY        |     92300 | NS      | $601796.00    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Ultra Clean Holdings Inc                    | Ultra Clean Holdings Inc                    | CUSIP: 90385V107<br>LEI: 5493007L6LS7QX18PE75 | Long             | EC               | CORP              | US        |     33600 | NS      | $1113840.00   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Profound Medical Corp                       | Profound Medical Corp                       | CUSIP: 74319B502<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |     90900 | NS      | $972106.35    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| IMAX Corp                                   | IMAX Corp                                   | CUSIP: 45245E109<br>LEI: 5493002KS2T1Q0X7VZ21 | Long             | EC               | CORP              | CA        |     78200 | NS      | $1146412.00   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| AXT Inc                                     | AXT Inc                                     | CUSIP: 00246W103<br>LEI: 549300M2142IVLVIJN37 | Long             | EC               | CORP              | US        |    193200 | NS      | $846216.00    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Optoelectronics Inc                 | Applied Optoelectronics Inc                 | CUSIP: 03823U102<br>LEI: 529900I8U6Q5SYDNLT48 | Long             | EC               | CORP              | US        |    115900 | NS      | $219051.00    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Luna Innovations Inc                        | Luna Innovations Inc                        | CUSIP: 550351100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    189800 | NS      | $1668342.00   | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Midway Investments Ltd                      | MIDWAY INVESTMENTS LTD                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | GB        |   1751577 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Magnite Inc                                 | Magnite Inc                                 | CUSIP: 55955D100<br>LEI: 54930018FR2YX1HHSB02 | Long             | EC               | CORP              | US        |     93000 | NS      | $984870.00    | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Territorial Bancorp Inc                     | Territorial Bancorp Inc                     | CUSIP: 88145X108<br>LEI: 5493003VDUGN5KBPTN24 | Long             | EC               | CORP              | US        |     50308 | NS      | $1207895.08   | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Thryv Holdings Inc                          | Thryv Holdings Inc                          | CUSIP: 886029206<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     41000 | NS      | $779000.00    | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Newpark Resources Inc                       | Newpark Resources Inc                       | CUSIP: 651718504<br>LEI: 54930073OHWDQW4DJN26 | Long             | EC               | CORP              | US        |    356800 | NS      | $1480720.00   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Acme United Corp                            | Acme United Corp                            | CUSIP: 004816104<br>LEI: 549300NVT8NN13WP8M83 | Long             | EC               | CORP              | US        |     29879 | NS      | $654350.10    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Construction Partners Inc                   | Construction Partners Inc                   | CUSIP: 21044C107<br>LEI: 549300MHLFL4E8JLZU44 | Long             | EC               | CORP              | US        |     54100 | NS      | $1443929.00   | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Axcelis Technologies Inc                    | Axcelis Technologies Inc                    | CUSIP: 054540208<br>LEI: 529900HF9B6NL1QG9F05 | Long             | EC               | CORP              | US        |     19100 | NS      | $1515776.00   | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| HarborOne Bancorp Inc                       | HarborOne Bancorp Inc                       | CUSIP: 41165Y100<br>LEI: 549300CNOEY2QUB7F917 | Long             | EC               | CORP              | US        |    104491 | NS      | $1452424.90   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| CPI Aerostructures Inc                      | CPI Aerostructures Inc                      | CUSIP: 125919308<br>LEI: 549300C471OFZGCOHS09 | Long             | EC               | CORP              | US        |    142379 | NS      | $455612.80    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Graham Corp                                 | Graham Corp                                 | CUSIP: 384556106<br>LEI: 254900EI9P4LTY524J77 | Long             | EC               | CORP              | US        |     96296 | NS      | $926367.52    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Major Drilling Group International Inc      | Major Drilling Group International Inc      | CUSIP: 560909103<br>LEI: 549300O1MNHCX2FUBC21 | Long             | EC               | CORP              | CA        |    187900 | NS      | $1459902.51   | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Lindblad Expeditions Holdings Inc           | Lindblad Expeditions Holdings Inc           | CUSIP: 535219109<br>LEI: 549300GSPW24GZE6R597 | Long             | EC               | CORP              | US        |    104900 | NS      | $807730.00    | 0.66%             |  |  |  | No            |                  1 | On Loan: —       |
| Quanterix Corp                              | Quanterix Corp                              | CUSIP: 74766Q101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     48200 | NS      | $667570.00    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| FRP Holdings Inc                            | FRP Holdings Inc                            | CUSIP: 30292L107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12240 | NS      | $659246.40    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| CareDx Inc                                  | CareDx Inc                                  | CUSIP: 14167L103<br>LEI: 549300NQOFKL9NON0U06 | Long             | EC               | CORP              | US        |       100 | NS      | $1141.00      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Natural Gas Services Group Inc              | Natural Gas Services Group Inc              | CUSIP: 63886Q109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    119366 | NS      | $1367934.36   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| HBT Financial Inc                           | HBT Financial Inc                           | CUSIP: 404111106<br>LEI: 549300NTXD4Q6UK5BY66 | Long             | EC               | CORP              | US        |     77894 | NS      | $1524385.58   | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Stellar Bancorp Inc                         | Stellar Bancorp Inc                         | CUSIP: 858927106<br>LEI: 54930070P8Z0WHFBB536 | Long             | EC               | CORP              | US        |     42845 | NS      | $1262213.70   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Photronics Inc                              | Photronics Inc                              | CUSIP: 719405102<br>LEI: 549300OK5JVNIBNY6F63 | Long             | EC               | CORP              | US        |     86200 | NS      | $1450746.00   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Citi Trends Inc                             | Citi Trends Inc                             | CUSIP: 17306X102<br>LEI: 529900D06Q0FPHV34S87 | Long             | EC               | CORP              | US        |     47486 | NS      | $1257429.28   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Dynavax Technologies Corp                   | Dynavax Technologies Corp                   | CUSIP: 268158201<br>LEI: 549300T5URIXWDILX594 | Long             | EC               | CORP              | US        |     82600 | NS      | $878864.00    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Agilysys Inc                                | Agilysys Inc                                | CUSIP: 00847J105<br>LEI: 5299001XWB5V3B5IPN93 | Long             | EC               | CORP              | US        |     23600 | NS      | $1867704.00   | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Apyx Medical Corp                           | Apyx Medical Corp                           | CUSIP: 03837C106<br>LEI: 5299009QZVYUYO082S45 | Long             | EC               | CORP              | US        |    146900 | NS      | $343746.00    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Altius Minerals Corp                        | Altius Minerals Corp                        | CUSIP: 020936100<br>LEI: 54930083UJGDUCMJMU61 | Long             | EC               | CORP              | CA        |     49700 | NS      | $815241.51    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Century Casinos Inc                         | Century Casinos Inc                         | CUSIP: 156492100<br>LEI: 549300H2L4Y24HXY7M50 | Long             | EC               | CORP              | US        |    141300 | NS      | $993339.00    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| nLight Inc                                  | nLight Inc                                  | CUSIP: 65487K100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     89700 | NS      | $909558.00    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Transcat Inc                                | Transcat Inc                                | CUSIP: 893529107<br>LEI: 54930081E40TSSHUOS40 | Long             | EC               | CORP              | US        |     19845 | NS      | $1406415.15   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Chico's FAS Inc                             | Chico's FAS Inc                             | CUSIP: 168615102<br>LEI: 5299003ESGN5T1MFXY13 | Long             | EC               | CORP              | US        |    196400 | NS      | $966288.00    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Arlo Technologies Inc                       | Arlo Technologies Inc                       | CUSIP: 04206A101<br>LEI: 549300T4EUX2OQ75HV52 | Long             | EC               | CORP              | US        |    106600 | NS      | $374166.00    | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Ichor Holdings Ltd                          | Ichor Holdings Ltd                          | CUSIP: 000000000<br>LEI: 529900PS8R2JVLJ2H892 | Long             | EC               | CORP              | KY        |     35000 | NS      | $938700.00    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| B Riley Financial Inc                       | B Riley Financial Inc                       | CUSIP: 05580M108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     22300 | NS      | $762660.00    | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| NeoGenomics Inc                             | NeoGenomics Inc                             | CUSIP: 64049M209<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     11600 | NS      | $107184.00    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Comtech Telecommunications Corp             | Comtech Telecommunications Corp             | CUSIP: 205826209<br>LEI: 529900FTEZ8MGM0Y8F73 | Long             | EC               | CORP              | US        |     56563 | NS      | $686674.82    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| VIA Optronics AG                            | VIA Optronics AG                            | CUSIP: 91823Y109<br>LEI: 391200MQMJVYVM0L2S18 | Long             | EC               | CORP              | DE        |    101257 | NS      | $161626.42    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Fossil Group Inc                            | Fossil Group Inc                            | CUSIP: 34988V106<br>LEI: DDMY8YZ6L8UEMS1FDM73 | Long             | EC               | CORP              | US        |    152300 | NS      | $656413.00    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| PDF Solutions Inc                           | PDF Solutions Inc                           | CUSIP: 693282105<br>LEI: 549300GMSP6MROFBI160 | Long             | EC               | CORP              | US        |     45200 | NS      | $1289104.00   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Intevac Inc                                 | Intevac Inc                                 | CUSIP: 461148108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    132936 | NS      | $860095.92    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Computer Task Group Inc                     | Computer Task Group Inc                     | CUSIP: 205477102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    138003 | NS      | $1043302.68   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| CIRCOR International Inc                    | CIRCOR International Inc                    | CUSIP: 17273K109<br>LEI: 5493007701O01N3FQM69 | Long             | EC               | CORP              | US        |     44300 | NS      | $1061428.00   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Federated Government Obligations Fund       | Federated Government Obligations Fund       | CUSIP: 60934N807<br>LEI: 254900VAJ9169N7JRF45 | Long             | STIV             | RF                | US        |   1072870 | NS      | $1072870.00   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Vishay Precision Group Inc                  | Vishay Precision Group Inc                  | CUSIP: 92835K103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     40200 | NS      | $1553730.00   | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| MasterCraft Boat Holdings Inc               | MasterCraft Boat Holdings Inc               | CUSIP: 57637H103<br>LEI: 549300IXWX41555YJ117 | Long             | EC               | CORP              | US        |     45317 | NS      | $1172350.79   | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Aehr Test Systems                           | Aehr Test Systems                           | CUSIP: 00760J108<br>LEI: 529900A4GWWZFRU2RE97 | Long             | EC               | CORP              | US        |     60100 | NS      | $1208010.00   | 0.98%             |  |  |  | No            |                  1 | On Loan: —       |
| Clarkson PLC                                | Clarkson PLC                                | CUSIP: 000000000<br>LEI: 2138007G6BGTEHI3OT22 | Long             | EC               | CORP              | GB        |     33600 | NS      | $1314080.40   | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Quanex Building Products Corp               | Quanex Building Products Corp               | CUSIP: 747619104<br>LEI: 5493000TL30VL5WOAW87 | Long             | EC               | CORP              | US        |     56400 | NS      | $1335552.00   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| FARO Technologies Inc                       | FARO Technologies Inc                       | CUSIP: 311642102<br>LEI: 529900MFEFNOFP3YR823 | Long             | EC               | CORP              | US        |     31200 | NS      | $917592.00    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Digi International Inc                      | Digi International Inc                      | CUSIP: 253798102<br>LEI: 529900KG656HGROI4N27 | Long             | EC               | CORP              | US        |     37259 | NS      | $1361816.45   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Northwest Pipe Co                           | Northwest Pipe Co                           | CUSIP: 667746101<br>LEI: 54930056VW2CRCZ9RE54 | Long             | EC               | CORP              | US        |     44700 | NS      | $1506390.00   | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Cass Information Systems Inc                | Cass Information Systems Inc                | CUSIP: 14808P109<br>LEI: 549300G7XPIPR7SJ2F38 | Long             | EC               | CORP              | US        |     26048 | NS      | $1193519.36   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Amtech Systems Inc                          | Amtech Systems Inc                          | CUSIP: 032332504<br>LEI: 5299008VRUUPETM6HZ85 | Long             | EC               | CORP              | US        |     76282 | NS      | $579743.20    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicken Soup For The Soul Entertainment Inc | Chicken Soup For The Soul Entertainment Inc | CUSIP: 16842Q100<br>LEI: 549300THRJ0EJ1DIID72 | Long             | EC               | CORP              | US        |    101416 | NS      | $519249.92    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Commercial Vehicle Group Inc                | Commercial Vehicle Group Inc                | CUSIP: 202608105<br>LEI: 5493006OG8I91X0K7Q22 | Long             | EC               | CORP              | US        |     97645 | NS      | $664962.45    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| HomeTrust Bancshares Inc                    | HomeTrust Bancshares Inc                    | CUSIP: 437872104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     51400 | NS      | $1242338.00   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Aspen Aerogels Inc                          | Aspen Aerogels Inc                          | CUSIP: 04523Y105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     55717 | NS      | $656903.43    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Artivion Inc                                | Artivion Inc                                | CUSIP: 228903100<br>LEI: 549300YTKV8DMSMG6K81 | Long             | EC               | CORP              | US        |     69689 | NS      | $844630.68    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Legacy Housing Corp                         | Legacy Housing Corp                         | CUSIP: 52472M101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     48796 | NS      | $925172.16    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Barnes & Noble Education Inc                | Barnes & Noble Education Inc                | CUSIP: 06777U101<br>LEI: 549300JQGDS5THBPED41 | Long             | EC               | CORP              | US        |    160300 | NS      | $280525.00    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Gaia Inc                                    | Gaia Inc                                    | CUSIP: 36269P104<br>LEI: 529900QUX8SBA2D93M92 | Long             | EC               | CORP              | US        |     73746 | NS      | $175515.48    | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Canaccord Genuity Group Inc                 | Canaccord Genuity Group Inc                 | CUSIP: 134801109<br>LEI: 5493002DR5KW4JP7YS87 | Long             | EC               | CORP              | CA        |    156782 | NS      | $971492.60    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Haynes International Inc                    | Haynes International Inc                    | CUSIP: 420877201<br>LEI: 549300I9MS5UZLRFDO40 | Long             | EC               | CORP              | US        |     30270 | NS      | $1383036.30   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Sprott Inc                                  | Sprott Inc                                  | CUSIP: 852066208<br>LEI: 254900QHJAD5TP2JNM15 | Long             | EC               | CORP              | CA        |     30380 | NS      | $1010572.53   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| BayCom Corp                                 | BayCom Corp                                 | CUSIP: 07272M107<br>LEI: 549300UOLS54Q5ONIG33 | Long             | EC               | CORP              | US        |     68582 | NS      | $1301686.36   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| PAR Technology Corp                         | PAR Technology Corp                         | CUSIP: 698884103<br>LEI: 549300HYPTHBJQINVG57 | Long             | EC               | CORP              | US        |     24100 | NS      | $628287.00    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Forrester Research Inc                      | Forrester Research Inc                      | CUSIP: 346563109<br>LEI: 549300UUSFXYLJ80Z897 | Long             | EC               | CORP              | US        |     28700 | NS      | $1026312.00   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-18

**Name of Applicant:** ROYCE CAPITAL FUND

**Signature:** John Schwartz

**Name of Signer:** John Schwartz

**Title:** Associate General Counsel