# EDGAR Filing Document

**Accession Number:** 0001006387
**File Stem:** 0001410368-26-049630
**Filing Date:** 2026-5
**Character Count:** 66454
**Document Hash:** e0f9da7533d976abed1cb13c07346e62
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-26-049630.hdr.sgml**: 20260521

**ACCESSION NUMBER**: 0001410368-26-049630

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260521

**DATE AS OF CHANGE**: 20260521

**PERIOD START**: 20261231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** ROYCE CAPITAL FUND
- **CENTRAL INDEX KEY:** 0001006387

**ORGANIZATION NAME:**
- **EIN:** 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:** 261006742

**BUSINESS ADDRESS:**
- **STREET 1:** ONE MADISON AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10010
- **BUSINESS PHONE:** 2125084599

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

## Series and Classes Contracts Data

### Royce Capital Fund - Small-Cap Portfolio (Series ID: S000009497)

| Class ID   | Class Name       | Ticker Symbol   |
|:---|:---|:---|
| C000025977 | Investment Class | RCPFX           |
| C000033016 | Service Class    | RCSSX           |

## Nport-Ex

SCHEDULES OF INVESTMENTS

ROYCE CAPITAL FUND - MICRO-CAP PORTFOLIO

MARCH 31, 2026 (UNAUDITED)

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE** |
| **COMMON STOCKS – 95.8%** |  |  |
| **Communication Services – 2.1%** |  |  |
| Entertainment - 0.9% |  |  |
| &nbsp;&nbsp;&nbsp;IMAX Corporation <sup>[1](#a001_v1)</sup> | 25265 | $960323 |
| Interactive Media & Services - 0.8% |  |  |
| &nbsp;&nbsp;&nbsp;DHI Group <sup>[1](#a001_v1)</sup> | 74434 | 209159 |
| &nbsp;&nbsp;&nbsp;QuinStreet <sup>[1](#a001_v1)</sup> | 53696 | 644889 |
|  |  | 854048 |
| Media - 0.4% |  |  |
| &nbsp;&nbsp;&nbsp;Magnite <sup>[1](#a001_v1)</sup> | 31720 | 376834 |
| **Total** |  | 2191205 |
| **Consumer Discretionary – 11.2%** |  |  |
| Automobile Components - 0.8% |  |  |
| &nbsp;&nbsp;&nbsp;Fox Factory Holding Corp. <sup>[1](#a001_v1)</sup> | 26287 | 432684 |
| &nbsp;&nbsp;&nbsp;Stoneridge <sup>[1](#a001_v1)</sup> | 72052 | 348011 |
|  |  | 780695 |
| Diversified Consumer Services - 2.6% |  |  |
| &nbsp;&nbsp;&nbsp;Legacy Education <sup>[1](#a001_v1)</sup> | 81917 | 1025601 |
| &nbsp;&nbsp;&nbsp;Lincoln Educational Services <sup>[1](#a001_v1)</sup> | 41816 | 1701075 |
|  |  | 2726676 |
| Hotels, Restaurants & Leisure - 2.0% |  |  |
| &nbsp;&nbsp;&nbsp;Century Casinos <sup>[1](#a001_v1)</sup> | 149217 | 207412 |
| &nbsp;&nbsp;&nbsp;First Watch Restaurant Group <sup>[1](#a001_v1)</sup> | 26749 | 280329 |
| &nbsp;&nbsp;&nbsp;Lindblad Expeditions Holdings <sup>[1](#a001_v1)</sup> | 64030 | 1107719 |
| &nbsp;&nbsp;&nbsp;Target Hospitality <sup>[1](#a001_v1)</sup> | 46561 | 432086 |
|  |  | 2027546 |
| Household Durables - 1.3% |  |  |
| &nbsp;&nbsp;&nbsp;Hovnanian Enterprises Cl. A <sup>[1](#a001_v1)</sup> | 3250 | 360458 |
| &nbsp;&nbsp;&nbsp;Legacy Housing <sup>[1](#a001_v1)</sup> | 33004 | 674272 |
| &nbsp;&nbsp;&nbsp;LGI Homes <sup>[1](#a001_v1)</sup> | 8225 | 325134 |
|  |  | 1359864 |
| Leisure Products - 1.4% |  |  |
| &nbsp;&nbsp;&nbsp;American Outdoor Brands <sup>[1](#a001_v1)</sup> | 84422 | 788501 |
| &nbsp;&nbsp;&nbsp;MasterCraft Boat Holdings <sup>[1](#a001_v1)</sup> | 34745 | 712620 |
|  |  | 1501121 |
| Specialty Retail - 2.6% |  |  |
| &nbsp;&nbsp;&nbsp;Bed Bath & Beyond <sup>[1](#a001_v1)</sup> | 70172 | 325598 |
| &nbsp;&nbsp;&nbsp;Citi Trends <sup>[1](#a001_v1)</sup> | 22369 | 969025 |
| &nbsp;&nbsp;&nbsp;J.Jill | 25532 | 292597 |
| &nbsp;&nbsp;&nbsp;OneWater Marine Cl. A <sup>[1](#a001_v1)</sup> | 50195 | 474343 |
| &nbsp;&nbsp;&nbsp;RealReal <sup>[1](#a001_v1)</sup> | 52376 | 475574 |
| &nbsp;&nbsp;&nbsp;Shoe Carnival | 7205 | 112326 |
|  |  | 2649463 |
| Textiles, Apparel & Luxury Goods - 0.5% |  |  |
| &nbsp;&nbsp;&nbsp;Lakeland Industries <sup>[1](#a001_v1)</sup> | 39067 | 319959 |
| &nbsp;&nbsp;&nbsp;Vera Bradley <sup>[1](#a001_v1)</sup> | 55034 | 173907 |
|  |  | 493866 |
| **Total** |  | 11539231 |
| **Consumer Staples – 0.1%** |  |  |
| Food Products - 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;Seneca Foods Cl. A <sup>[1](#a001_v1)</sup> | 984 | 148702 |
| **Total** |  | 148702 |
| **Energy – 4.5%** |  |  |
| Energy Equipment & Services - 3.4% |  |  |
| &nbsp;&nbsp;&nbsp;Natural Gas Services Group | 35835 | 1352413 |
| &nbsp;&nbsp;&nbsp;Pason Systems | 72779 | 692685 |
| &nbsp;&nbsp;&nbsp;Ranger Energy Services Cl. A | 39207 | 672008 |
| &nbsp;&nbsp;&nbsp;Select Water Solutions Cl. A | 52727 | 806723 |
|  |  | 3523829 |
| Oil, Gas & Consumable Fuels - 1.1% |  |  |
| &nbsp;&nbsp;&nbsp;Riley Exploration Permian | 14946 | 544781 |
| &nbsp;&nbsp;&nbsp;SandRidge Energy | 34151 | 557003 |
|  |  | 1101784 |
| **Total** |  | 4625613 |
| **Financials – 13.7%** |  |  |
| Banks - 7.8% |  |  |
| &nbsp;&nbsp;&nbsp;BayCom Corp. | 24092 | 716135 |
| &nbsp;&nbsp;&nbsp;Chain Bridge Bancorp Cl. A <sup>[1](#a001_v1)</sup> | 18375 | 641287 |
| &nbsp;&nbsp;&nbsp;Coastal Financial <sup>[1](#a001_v1)</sup> | 5115 | 389251 |
| &nbsp;&nbsp;&nbsp;Customers Bancorp <sup>[1](#a001_v1)</sup> | 13361 | 927387 |
| &nbsp;&nbsp;&nbsp;Esquire Financial Holdings | 5656 | 608020 |
| &nbsp;&nbsp;&nbsp;HBT Financial | 21758 | 581374 |
| &nbsp;&nbsp;&nbsp;Hingham Institution for Savings | 2227 | 636566 |
| &nbsp;&nbsp;&nbsp;HomeTrust Bancshares | 13887 | 592281 |
| &nbsp;&nbsp;&nbsp;Investar Holding | 43335 | 1181745 |
| &nbsp;&nbsp;&nbsp;Midway Investments <sup>[1](#a001_v1),[2](#a002_v1)</sup> | 1751577 | 0 |
| &nbsp;&nbsp;&nbsp;Northeast Bank | 6697 | 752542 |
| &nbsp;&nbsp;&nbsp;Western New England Bancorp | 81137 | 1049101 |
|  |  | 8075689 |
| Capital Markets - 3.7% |  |  |
| &nbsp;&nbsp;&nbsp;Canaccord Genuity Group | 94613 | 810036 |
| &nbsp;&nbsp;&nbsp;Oppenheimer Holdings Cl. A | 11406 | 1017301 |
| &nbsp;&nbsp;&nbsp;Perella Weinberg Partners Cl. A | 10231 | 185795 |
| &nbsp;&nbsp;&nbsp;Silvercrest Asset Management Group Cl. A | 33030 | 443923 |
| &nbsp;&nbsp;&nbsp;Sprott | 9877 | 1409519 |
|  |  | 3866574 |
| Consumer Finance - 1.3% |  |  |
| &nbsp;&nbsp;&nbsp;EZCORP Cl. A <sup>[1](#a001_v1)</sup> | 52910 | 1342856 |
| Insurance - 0.9% |  |  |
| &nbsp;&nbsp;&nbsp;International General Insurance Holdings | 37399 | 905991 |
| **Total** |  | 14191110 |
| **Health Care – 12.5%** |  |  |
| Biotechnology - 1.8% |  |  |
| &nbsp;&nbsp;&nbsp;Absci Corporation <sup>[1](#a001_v1)</sup> | 67653 | 202959 |
| &nbsp;&nbsp;&nbsp;BridgeBio Oncology Therapeutics <sup>[1](#a001_v1)</sup> | 22007 | 196963 |
| &nbsp;&nbsp;&nbsp;CareDx <sup>[1](#a001_v1)</sup> | 34424 | 597601 |
| &nbsp;&nbsp;&nbsp;Compass Therapeutics <sup>[1](#a001_v1)</sup> | 49763 | 263246 |
| &nbsp;&nbsp;&nbsp;ORIC Pharmaceuticals <sup>[1](#a001_v1)</sup> | 46835 | 593399 |
|  |  | 1854168 |
| Health Care Equipment & Supplies - 4.4% |  |  |
| &nbsp;&nbsp;&nbsp;Acme United | 19360 | 869458 |
| &nbsp;&nbsp;&nbsp;AngioDynamics <sup>[1](#a001_v1)</sup> | 26504 | 301350 |
| &nbsp;&nbsp;&nbsp;Apyx Medical <sup>[1](#a001_v1)</sup> | 215125 | 793811 |
| &nbsp;&nbsp;&nbsp;Artivion <sup>[1](#a001_v1)</sup> | 20208 | 740017 |
| &nbsp;&nbsp;&nbsp;Delcath Systems <sup>[1](#a001_v1)</sup> | 18013 | 167161 |
| &nbsp;&nbsp;&nbsp;Establishment Labs Holdings <sup>[1](#a001_v1)</sup> | 17645 | 1001883 |
| &nbsp;&nbsp;&nbsp;Profound Medical <sup>[1](#a001_v1)</sup> | 102757 | 657420 |
|  |  | 4531100 |
| Health Care Providers & Services - 1.2% |  |  |
| &nbsp;&nbsp;&nbsp;AMN Healthcare Services <sup>[1](#a001_v1)</sup> | 42514 | 779707 |
| &nbsp;&nbsp;&nbsp;Cross Country Healthcare <sup>[1](#a001_v1)</sup> | 47595 | 447393 |
|  |  | 1227100 |
| Health Care Technology - 1.1% |  |  |
| &nbsp;&nbsp;&nbsp;Certara <sup>[1](#a001_v1)</sup> | 65245 | 371897 |
| &nbsp;&nbsp;&nbsp;Simulations Plus <sup>[1](#a001_v1)</sup> | 39767 | 470046 |
| &nbsp;&nbsp;&nbsp;SOPHiA GENETICS <sup>[1](#a001_v1)</sup> | 51238 | 253628 |
| &nbsp;&nbsp;&nbsp;Veradigm <sup>[1](#a001_v1),[3](#a003_v1)</sup> | 13906 | 64663 |
|  |  | 1160234 |
| Life Sciences Tools & Services - 3.5% |  |  |
| &nbsp;&nbsp;&nbsp;Alpha Teknova <sup>[1](#a001_v1)</sup> | 99046 | 286243 |
| &nbsp;&nbsp;&nbsp;Azenta <sup>[1](#a001_v1)</sup> | 23288 | 492075 |
| &nbsp;&nbsp;&nbsp;BioLife Solutions <sup>[1](#a001_v1)</sup> | 32588 | 621779 |
| &nbsp;&nbsp;&nbsp;Cytek Biosciences <sup>[1](#a001_v1)</sup> | 151203 | 660757 |
| &nbsp;&nbsp;&nbsp;Maravai LifeSciences Holdings Cl. A <sup>[1](#a001_v1)</sup> | 162808 | 460747 |
| &nbsp;&nbsp;&nbsp;Mesa Laboratories | 10017 | 885703 |
| &nbsp;&nbsp;&nbsp;Standard BioTools <sup>[1](#a001_v1)</sup> | 275104 | 252903 |
|  |  | 3660207 |
| Pharmaceuticals - 0.5% |  |  |
| &nbsp;&nbsp;&nbsp;Esperion Therapeutics <sup>[1](#a001_v1)</sup> | 167777 | 459709 |
| **Total** |  | 12892518 |
| **Industrials – 25.1%** |  |  |
| Aerospace & Defense - 3.1% |  |  |
| &nbsp;&nbsp;&nbsp;Astronics Corporation <sup>[1](#a001_v1)</sup> | 12787 | 853276 |
| &nbsp;&nbsp;&nbsp;CPI Aerostructures <sup>[1](#a001_v1)</sup> | 95135 | 372929 |
| &nbsp;&nbsp;&nbsp;Park Aerospace | 44473 | 1217671 |
| &nbsp;&nbsp;&nbsp;VSE Corporation | 4217 | 777615 |
|  |  | 3221491 |
| Air Freight & Logistics - 1.0% |  |  |
| &nbsp;&nbsp;&nbsp;Forward Air <sup>[1](#a001_v1),[4](#a004_v1)</sup> | 24698 | 412704 |
| &nbsp;&nbsp;&nbsp;Radiant Logistics <sup>[1](#a001_v1)</sup> | 82041 | 578389 |
|  |  | 991093 |
| Building Products - 1.0% |  |  |
| &nbsp;&nbsp;&nbsp;Janus International Group <sup>[1](#a001_v1)</sup> | 66909 | 344581 |
| &nbsp;&nbsp;&nbsp;Quanex Building Products | 39766 | 714595 |
|  |  | 1059176 |
| Commercial Services & Supplies - 1.7% |  |  |
| &nbsp;&nbsp;&nbsp;ACV Auctions Cl. A <sup>[1](#a001_v1)</sup> | 35417 | 150168 |
| &nbsp;&nbsp;&nbsp;Liquidity Services <sup>[1](#a001_v1)</sup> | 29489 | 901479 |
| &nbsp;&nbsp;&nbsp;Montrose Environmental Group <sup>[1](#a001_v1)</sup> | 32080 | 702231 |
|  |  | 1753878 |
| Construction & Engineering - 3.8% |  |  |
| &nbsp;&nbsp;&nbsp;Ameresco Cl. A <sup>[1](#a001_v1)</sup> | 24276 | 619038 |
| &nbsp;&nbsp;&nbsp;Bowman Consulting Group <sup>[1](#a001_v1)</sup> | 17328 | 492808 |
| &nbsp;&nbsp;&nbsp;Concrete Pumping Holdings <sup>[1](#a001_v1)</sup> | 85878 | 613169 |
| &nbsp;&nbsp;&nbsp;Limbach Holdings <sup>[1](#a001_v1)</sup> | 11013 | 859565 |
| &nbsp;&nbsp;&nbsp;NWPX Infrastructure <sup>[1](#a001_v1)</sup> | 17507 | 1363095 |
|  |  | 3947675 |
| Electrical Equipment - 1.9% |  |  |
| &nbsp;&nbsp;&nbsp;American Superconductor <sup>[1](#a001_v1)</sup> | 12925 | 437511 |
| &nbsp;&nbsp;&nbsp;Hammond Power Solutions Cl. A | 5859 | 738619 |
| &nbsp;&nbsp;&nbsp;LSI Industries | 42670 | 793662 |
|  |  | 1969792 |
| Ground Transportation - 1.2% |  |  |
| &nbsp;&nbsp;&nbsp;Covenant Logistics Group Cl. A | 31525 | 855904 |
| &nbsp;&nbsp;&nbsp;Marten Transport | 26769 | 351477 |
|  |  | 1207381 |
| Machinery - 5.1% |  |  |
| &nbsp;&nbsp;&nbsp;Aebi Schmidt Holding | 31385 | 304748 |
| &nbsp;&nbsp;&nbsp;CECO Environmental <sup>[1](#a001_v1)</sup> | 16412 | 977827 |
| &nbsp;&nbsp;&nbsp;Energy Recovery <sup>[1](#a001_v1)</sup> | 42882 | 431822 |
| &nbsp;&nbsp;&nbsp;Graham Corporation <sup>[1](#a001_v1)</sup> | 16135 | 1273374 |
| &nbsp;&nbsp;&nbsp;Lindsay Corporation | 4137 | 492593 |
| &nbsp;&nbsp;&nbsp;Luxfer Holdings | 70109 | 853928 |
| &nbsp;&nbsp;&nbsp;Perma-Pipe International Holdings <sup>[1](#a001_v1)</sup> | 12064 | 359628 |
| &nbsp;&nbsp;&nbsp;Titan International <sup>[1](#a001_v1)</sup> | 47130 | 325668 |
| &nbsp;&nbsp;&nbsp;Wabash National | 15391 | 132670 |
| &nbsp;&nbsp;&nbsp;Westport Fuel Systems <sup>[1](#a001_v1)</sup> | 45292 | 82432 |
|  |  | 5234690 |
| Marine Transportation - 0.4% |  |  |
| &nbsp;&nbsp;&nbsp;Clarkson <sup>[3](#a003_v1)</sup> | 6855 | 420552 |
| Professional Services - 1.5% |  |  |
| &nbsp;&nbsp;&nbsp;Alight Cl. A <sup>[1](#a001_v1)</sup> | 76652 | 44665 |
| &nbsp;&nbsp;&nbsp;Asure Software <sup>[1](#a001_v1)</sup> | 44346 | 381376 |
| &nbsp;&nbsp;&nbsp;Kforce | 15458 | 451992 |
| &nbsp;&nbsp;&nbsp;Mistras Group <sup>[1](#a001_v1)</sup> | 26513 | 391862 |
| &nbsp;&nbsp;&nbsp;TrueBlue <sup>[1](#a001_v1)</sup> | 78163 | 305617 |
|  |  | 1575512 |
| Trading Companies & Distributors - 4.4% |  |  |
| &nbsp;&nbsp;&nbsp;Alta Equipment Group <sup>[1](#a001_v1)</sup> | 55386 | 297423 |
| &nbsp;&nbsp;&nbsp;Distribution Solutions Group <sup>[1](#a001_v1)</sup> | 18743 | 491816 |
| &nbsp;&nbsp;&nbsp;EVI Industries | 35056 | 721453 |
| &nbsp;&nbsp;&nbsp;NPK International <sup>[1](#a001_v1)</sup> | 80760 | 1170212 |
| &nbsp;&nbsp;&nbsp;Titan Machinery <sup>[1](#a001_v1)</sup> | 43800 | 732336 |
| &nbsp;&nbsp;&nbsp;Transcat <sup>[1](#a001_v1)</sup> | 15122 | 1110711 |
|  |  | 4523951 |
| **Total** |  | 25905191 |
| **Information Technology – 21.5%** |  |  |
| Communications Equipment - 4.6% |  |  |
| &nbsp;&nbsp;&nbsp;ADTRAN Holdings <sup>[1](#a001_v1)</sup> | 106158 | 1335468 |
| &nbsp;&nbsp;&nbsp;Applied Optoelectronics <sup>[1](#a001_v1)</sup> | 10266 | 868401 |
| &nbsp;&nbsp;&nbsp;Clearfield <sup>[1](#a001_v1)</sup> | 23563 | 623712 |
| &nbsp;&nbsp;&nbsp;Digi International <sup>[1](#a001_v1)</sup> | 24735 | 1192227 |
| &nbsp;&nbsp;&nbsp;NETGEAR <sup>[1](#a001_v1)</sup> | 19575 | 427518 |
| &nbsp;&nbsp;&nbsp;Ribbon Communications <sup>[1](#a001_v1)</sup> | 137625 | 291765 |
|  |  | 4739091 |
| Electronic Equipment, Instruments & Components - 7.2% |  |  |
| &nbsp;&nbsp;&nbsp;Arlo Technologies <sup>[1](#a001_v1)</sup> | 38221 | 543885 |
| &nbsp;&nbsp;&nbsp;Bel Fuse Cl. B | 6553 | 1297363 |
| &nbsp;&nbsp;&nbsp;Climb Global Solutions <sup>[1](#a001_v1)</sup> | 27608 | 547191 |
| &nbsp;&nbsp;&nbsp;Kraken Robotics <sup>[1](#a001_v1)</sup> | 36423 | 209463 |
| &nbsp;&nbsp;&nbsp;LightPath Technologies Cl. A <sup>[1](#a001_v1)</sup> | 91536 | 918106 |
| &nbsp;&nbsp;&nbsp;Luna Innovations <sup>[1](#a001_v1),[3](#a003_v1),[4](#a004_v1)</sup> | 34622 | 34622 |
| &nbsp;&nbsp;&nbsp;M-tron Industries <sup>[1](#a001_v1)</sup> | 695 | 46461 |
| &nbsp;&nbsp;&nbsp;nLIGHT <sup>[1](#a001_v1)</sup> | 20341 | 1159844 |
| &nbsp;&nbsp;&nbsp;Powerfleet <sup>[1](#a001_v1)</sup> | 201134 | 619493 |
| &nbsp;&nbsp;&nbsp;Richardson Electronics | 88649 | 970706 |
| &nbsp;&nbsp;&nbsp;SmartRent Cl. A <sup>[1](#a001_v1)</sup> | 59028 | 88542 |
| &nbsp;&nbsp;&nbsp;Vishay Precision Group <sup>[1](#a001_v1)</sup> | 22813 | 990540 |
|  |  | 7426216 |
| Semiconductors & Semiconductor Equipment - 8.9% |  |  |
| &nbsp;&nbsp;&nbsp;Aehr Test Systems <sup>[1](#a001_v1),[4](#a004_v1)</sup> | 9199 | 341099 |
| &nbsp;&nbsp;&nbsp;Alpha and Omega Semiconductor <sup>[1](#a001_v1)</sup> | 15231 | 337519 |
| &nbsp;&nbsp;&nbsp;Camtek <sup>[1](#a001_v1)</sup> | 6715 | 1018061 |
| &nbsp;&nbsp;&nbsp;Cohu <sup>[1](#a001_v1)</sup> | 44807 | 1371990 |
| &nbsp;&nbsp;&nbsp;Ichor Holdings <sup>[1](#a001_v1)</sup> | 30765 | 1433957 |
| &nbsp;&nbsp;&nbsp;inTEST Corporation <sup>[1](#a001_v1)</sup> | 70260 | 959049 |
| &nbsp;&nbsp;&nbsp;Kopin Corporation <sup>[1](#a001_v1)</sup> | 374129 | 841790 |
| &nbsp;&nbsp;&nbsp;Nova <sup>[1](#a001_v1)</sup> | 2305 | 1001015 |
| &nbsp;&nbsp;&nbsp;Penguin Solutions <sup>[1](#a001_v1)</sup> | 19691 | 346562 |
| &nbsp;&nbsp;&nbsp;Ultra Clean Holdings <sup>[1](#a001_v1)</sup> | 25163 | 1564635 |
|  |  | 9215677 |
| Software - 0.7% |  |  |
| &nbsp;&nbsp;&nbsp;PagerDuty <sup>[1](#a001_v1)</sup> | 41118 | 255343 |
| &nbsp;&nbsp;&nbsp;PAR Technology <sup>[1](#a001_v1)</sup> | 30465 | 406098 |
|  |  | 661441 |
| Technology Hardware, Storage & Peripherals - 0.1% |  |  |
| &nbsp;&nbsp;&nbsp;AstroNova <sup>[1](#a001_v1)</sup> | 14330 | 131693 |
| **Total** |  | 22174118 |
| **Materials – 4.8%** |  |  |
| Chemicals - 2.0% |  |  |
| &nbsp;&nbsp;&nbsp;Core Molding Technologies <sup>[1](#a001_v1)</sup> | 25538 | 572051 |
| &nbsp;&nbsp;&nbsp;5N Plus <sup>[1](#a001_v1)</sup> | 67867 | 1545559 |
|  |  | 2117610 |
| Metals & Mining - 2.8% |  |  |
| &nbsp;&nbsp;&nbsp;Alphamin Resources | 43153 | 35674 |
| &nbsp;&nbsp;&nbsp;Altius Minerals | 31762 | 1117184 |
| &nbsp;&nbsp;&nbsp;Ferroglobe | 130217 | 536494 |
| &nbsp;&nbsp;&nbsp;Major Drilling Group International <sup>[1](#a001_v1)</sup> | 102097 | 1175756 |
|  |  | 2865108 |
| **Total** |  | 4982718 |
| **Real Estate – 0.3%** |  |  |
| Real Estate Management & Development - 0.3% |  |  |
| &nbsp;&nbsp;&nbsp;Marcus & Millichap | 13482 | 358486 |
| **Total** |  | 358486 |
| **TOTAL COMMON STOCKS** |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $68,751,666) |  | 99008892 |
| **INVESTMENTS AT VALUE** |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $68,751,666) |  | 99008892 |
| **REPURCHASE AGREEMENT – 4.0%** |  |  |
| Fixed Income Clearing Corporation, |  |  |
| &nbsp;&nbsp;&nbsp;3.00% dated 3/31/26, due 4/1/26, |  |  |
| &nbsp;&nbsp;&nbsp;maturity value $4,177,611 (collateralized |  |  |
| &nbsp;&nbsp;&nbsp;by obligations of U.S. Government |  |  |
| &nbsp;&nbsp;&nbsp;Agencies, 3.625% due 8/31/27, valued at $4,260,986) |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $4,177,263) |  | 4177263 |
| **TOTAL INVESTMENTS – 99.8%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Cost $72,928,929) |  | 103186155 |
| **CASH AND OTHER ASSETS** |  |  |
| &nbsp;&nbsp;&nbsp;**LESS LIABILITIES – 0.2%** |  | 199222 |
| **NET ASSETS – 100.0%** |  | $**103385377** |

---

SCHEDULES OF INVESTMENTS

ROYCE CAPITAL FUND - SMALL-CAP PORTFOLIO

MARCH 31, 2026 (UNAUDITED)

---

| | | |
|:---|:---|:---|
|  | **SHARES** | **VALUE** |
| **COMMON STOCKS – 99.2%** |  |  |
| **Consumer Discretionary – 23.7%** |  |  |
| Automobile Components - 5.0% |  |  |
| &nbsp;&nbsp;&nbsp;Gentex Corporation | 121756 | $2660369 |
| &nbsp;&nbsp;&nbsp;Lear Corporation | 26025 | 3151107 |
| &nbsp;&nbsp;&nbsp;Visteon Corporation | 29876 | 2722002 |
|  |  | 8533478 |
| Diversified Consumer Services - 2.1% |  |  |
| &nbsp;&nbsp;&nbsp;frontdoor <sup>[1](#a001_v1)</sup> | 24324 | 1285767 |
| &nbsp;&nbsp;&nbsp;Stride <sup>[1](#a001_v1)</sup> | 27071 | 2386850 |
|  |  | 3672617 |
| Hotels, Restaurants & Leisure - 1.4% |  |  |
| &nbsp;&nbsp;&nbsp;Boyd Gaming | 28954 | 2379440 |
| Household Durables - 6.4% |  |  |
| &nbsp;&nbsp;&nbsp;Ethan Allen Interiors | 46852 | 1042925 |
| &nbsp;&nbsp;&nbsp;M/I Homes <sup>[1](#a001_v1)</sup> | 24112 | 2952514 |
| &nbsp;&nbsp;&nbsp;Meritage Homes | 24908 | 1540311 |
| &nbsp;&nbsp;&nbsp;PulteGroup | 25265 | 2971417 |
| &nbsp;&nbsp;&nbsp;Taylor Morrison Home <sup>[1](#a001_v1)</sup> | 43135 | 2512182 |
|  |  | 11019349 |
| Specialty Retail - 7.2% |  |  |
| &nbsp;&nbsp;&nbsp;Academy Sports & Outdoors | 47262 | 2667940 |
| &nbsp;&nbsp;&nbsp;Buckle (The) | 59411 | 2991938 |
| &nbsp;&nbsp;&nbsp;J.Jill | 170743 | 1956715 |
| &nbsp;&nbsp;&nbsp;Shoe Carnival | 129625 | 2020854 |
| &nbsp;&nbsp;&nbsp;Signet Jewelers | 26612 | 2252439 |
| &nbsp;&nbsp;&nbsp;Williams-Sonoma | 2184 | 398209 |
|  |  | 12288095 |
| Textiles, Apparel & Luxury Goods - 1.6% |  |  |
| &nbsp;&nbsp;&nbsp;Kontoor Brands | 37748 | 2653307 |
| **Total** |  | 40546286 |
| **Consumer Staples – 2.0%** |  |  |
| Consumer Staples Distribution & Retail - 2.0% |  |  |
| &nbsp;&nbsp;&nbsp;Village Super Market Cl. A | 80814 | 3412775 |
| **Total** |  | 3412775 |
| **Energy – 7.8%** |  |  |
| Oil, Gas & Consumable Fuels - 7.8% |  |  |
| &nbsp;&nbsp;&nbsp;Chord Energy | 11674 | 1659809 |
| &nbsp;&nbsp;&nbsp;Matador Resources | 50556 | 3194128 |
| &nbsp;&nbsp;&nbsp;Riley Exploration Permian | 63196 | 2303494 |
| &nbsp;&nbsp;&nbsp;SM Energy | 101071 | 3151394 |
| &nbsp;&nbsp;&nbsp;Teekay Tankers Cl. A | 41926 | 3074015 |
| **Total** |  | 13382840 |
| **Financials – 26.6%** |  |  |
| Banks - 20.0% |  |  |
| &nbsp;&nbsp;&nbsp;Beacon Financial | 81850 | 2455500 |
| &nbsp;&nbsp;&nbsp;Burke & Herbert Financial Services | 37431 | 2331577 |
| &nbsp;&nbsp;&nbsp;Business First Bancshares | 91458 | 2473024 |
| &nbsp;&nbsp;&nbsp;Civista Bancshares | 116248 | 2649292 |
| &nbsp;&nbsp;&nbsp;CNB Financial | 62209 | 1801573 |
| &nbsp;&nbsp;&nbsp;Dime Community Bancshares | 12881 | 435635 |
| &nbsp;&nbsp;&nbsp;First Bank | 171913 | 2750608 |
| &nbsp;&nbsp;&nbsp;FS Bancorp | 62132 | 2397674 |
| &nbsp;&nbsp;&nbsp;Heritage Financial | 52007 | 1352182 |
| &nbsp;&nbsp;&nbsp;Mid Penn Bancorp | 63572 | 2044476 |
| &nbsp;&nbsp;&nbsp;OceanFirst Financial | 65883 | 1188529 |
| &nbsp;&nbsp;&nbsp;Princeton Bancorp | 50907 | 1719129 |
| &nbsp;&nbsp;&nbsp;Timberland Bancorp | 86554 | 3412824 |
| &nbsp;&nbsp;&nbsp;TrustCo Bank Corp NY | 9906 | 433685 |
| &nbsp;&nbsp;&nbsp;Unity Bancorp | 59644 | 3091349 |
| &nbsp;&nbsp;&nbsp;Univest Financial | 34330 | 1176146 |
| &nbsp;&nbsp;&nbsp;WesBanco | 61976 | 2137552 |
| &nbsp;&nbsp;&nbsp;Western New England Bancorp | 19951 | 257966 |
|  |  | 34108721 |
| Capital Markets - 1.6% |  |  |
| &nbsp;&nbsp;&nbsp;Evercore Cl. A | 9418 | 2811367 |
| Financial Services - 1.7% |  |  |
| &nbsp;&nbsp;&nbsp;Enact Holdings | 70474 | 2876044 |
| Insurance - 3.3% |  |  |
| &nbsp;&nbsp;&nbsp;Donegal Group Cl. A | 125479 | 2155730 |
| &nbsp;&nbsp;&nbsp;Tiptree | 71387 | 1207868 |
| &nbsp;&nbsp;&nbsp;United Fire Group | 60785 | 2252692 |
|  |  | 5616290 |
| **Total** |  | 45412422 |
| **Health Care – 10.0%** |  |  |
| Biotechnology - 2.6% |  |  |
| &nbsp;&nbsp;&nbsp;Catalyst Pharmaceuticals <sup>[1](#a001_v1)</sup> | 138741 | 3435227 |
| &nbsp;&nbsp;&nbsp;Entrada Therapeutics <sup>[1](#a001_v1)</sup> | 76461 | 964938 |
|  |  | 4400165 |
| Health Care Providers & Services - 0.8% |  |  |
| &nbsp;&nbsp;&nbsp;Pediatrix Medical Group <sup>[1](#a001_v1)</sup> | 61116 | 1307271 |
| Pharmaceuticals - 6.6% |  |  |
| &nbsp;&nbsp;&nbsp;Amphastar Pharmaceuticals <sup>[1](#a001_v1)</sup> | 91885 | 1800027 |
| &nbsp;&nbsp;&nbsp;Collegium Pharmaceutical <sup>[1](#a001_v1)</sup> | 59570 | 1969980 |
| &nbsp;&nbsp;&nbsp;CorMedix <sup>[1](#a001_v1)</sup> | 284829 | 1933989 |
| &nbsp;&nbsp;&nbsp;Harmony Biosciences Holdings <sup>[1](#a001_v1)</sup> | 76841 | 2152316 |
| &nbsp;&nbsp;&nbsp;Innoviva <sup>[1](#a001_v1)</sup> | 109442 | 2549999 |
| &nbsp;&nbsp;&nbsp;SIGA Technologies | 170858 | 914090 |
|  |  | 11320401 |
| **Total** |  | 17027837 |
| **Industrials – 16.6%** |  |  |
| Building Products - 0.2% |  |  |
| &nbsp;&nbsp;&nbsp;UFP Industries | 4488 | 413435 |
| Commercial Services & Supplies - 1.5% |  |  |
| &nbsp;&nbsp;&nbsp;Interface | 103233 | 2572566 |
| Construction & Engineering - 0.6% |  |  |
| &nbsp;&nbsp;&nbsp;Sterling Infrastructure <sup>[1](#a001_v1)</sup> | 2544 | 1036095 |
| Ground Transportation - 0.8% |  |  |
| &nbsp;&nbsp;&nbsp;ArcBest Corporation | 13633 | 1340942 |
| Machinery - 3.7% |  |  |
| &nbsp;&nbsp;&nbsp;Allison Transmission Holdings | 27131 | 3175955 |
| &nbsp;&nbsp;&nbsp;Blue Bird <sup>[1](#a001_v1)</sup> | 55000 | 3123450 |
|  |  | 6299405 |
| Marine Transportation - 1.8% |  |  |
| &nbsp;&nbsp;&nbsp;Genco Shipping & Trading | 134579 | 3034756 |
| Professional Services - 7.0% |  |  |
| &nbsp;&nbsp;&nbsp;Barrett Business Services | 60475 | 1764660 |
| &nbsp;&nbsp;&nbsp;IBEX <sup>[1](#a001_v1)</sup> | 126590 | 3395144 |
| &nbsp;&nbsp;&nbsp;Kforce | 48754 | 1425567 |
| &nbsp;&nbsp;&nbsp;Korn Ferry | 44550 | 2804423 |
| &nbsp;&nbsp;&nbsp;MAXIMUS | 39202 | 2512848 |
|  |  | 11902642 |
| Trading Companies & Distributors - 1.0% |  |  |
| &nbsp;&nbsp;&nbsp;DNOW <sup>[1](#a001_v1)</sup> | 151909 | 1809236 |
| **Total** |  | 28409077 |
| **Information Technology – 12.5%** |  |  |
| Electronic Equipment, Instruments & Components - 8.3% |  |  |
| &nbsp;&nbsp;&nbsp;Bel Fuse Cl. B | 5189 | 1027318 |
| &nbsp;&nbsp;&nbsp;ePlus | 22724 | 1709981 |
| &nbsp;&nbsp;&nbsp;Flex <sup>[1](#a001_v1)</sup> | 24390 | 1596569 |
| &nbsp;&nbsp;&nbsp;Jabil | 5518 | 1465746 |
| &nbsp;&nbsp;&nbsp;PC Connection | 37025 | 2164482 |
| &nbsp;&nbsp;&nbsp;Sanmina Corporation <sup>[1](#a001_v1)</sup> | 20893 | 2708569 |
| &nbsp;&nbsp;&nbsp;TD SYNNEX | 20825 | 3513386 |
|  |  | 14186051 |
| Semiconductors & Semiconductor Equipment - 0.8% |  |  |
| &nbsp;&nbsp;&nbsp;Amkor Technology | 30109 | 1355808 |
| Software - 1.2% |  |  |
| &nbsp;&nbsp;&nbsp;Adeia | 81076 | 1948256 |
| Technology Hardware, Storage & Peripherals - 2.2% |  |  |
| &nbsp;&nbsp;&nbsp;Diebold Nixdorf <sup>[1](#a001_v1)</sup> | 49852 | 3760835 |
| **Total** |  | 21250950 |
| **TOTAL COMMON STOCKS** |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $127,144,316) |  | 169442187 |
| **INVESTMENTS AT VALUE** |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $127,144,316) |  | 169442187 |
| **REPURCHASE AGREEMENT – 1.0%** |  |  |
| Fixed Income Clearing Corporation, |  |  |
| &nbsp;&nbsp;&nbsp;3.00% dated 3/31/26, due 4/1/26, |  |  |
| &nbsp;&nbsp;&nbsp;maturity value $1,654,528 (collateralized |  |  |
| &nbsp;&nbsp;&nbsp;by obligations of U.S. Government |  |  |
| &nbsp;&nbsp;&nbsp;Agencies, 3.625% due 8/31/27, valued at $1,687,490) |  |  |
| &nbsp;&nbsp;&nbsp;(Cost $1,654,390) |  | 1654390 |
| **TOTAL INVESTMENTS – 100.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Cost $128,798,706) |  | 171096577 |
| **LIABILITIES LESS CASH** |  |  |
| &nbsp;&nbsp;&nbsp;**AND OTHER ASSETS – (0.2)%** |  | (276818) |
| **NET ASSETS – 100.0%** |  | $**170819759** |

---

<sup>1</sup> Non-income producing.

<sup>2</sup> A security for which market quotations are not readily available represents 0.0% of net assets for Micro-Cap Portfolio. This security has been valued at its fair value under procedures approved by the Fund's Board of Trustees. This security is defined as a Level 3 security due to the use of significant unobservable inputs in the determination of fair value.

<sup>3</sup> These securities are defined as Level 2 securities due to fair value being based on quoted prices for similar securities and/or due to the application of fair value factors.

<sup>4</sup> All or a portion of these securities were on loan as of March 31, 2026.

**Tax Information:**

As of March 31, 2026, net unrealized appreciation (depreciation) based on identified cost for tax purposes was as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | | | **Gross Unrealized** | **Gross Unrealized** |
| | <br>**Tax Basis Cost** | **Net Unrealized**<br>**Appreciation**<br>**(Depreciation)** | **Appreciation** | **(Depreciation)** |
| **Micro-Cap Portfolio** | $73048709 | $30137446 | $38689224 | $8551778 |
| **Small-Cap Portfolio** | 129288868 | 41807709 | 48547304 | 6739595 |

---

The primary cause of the difference between book and tax basis cost is the timing of the recognition of losses on securities sold.

**Valuation of Investments:** 

Royce Capital Fund – Micro-Cap Portfolio and Royce Capital Fund – Small-Cap Portfolio (each, a "Fund," and together, the "Funds") are the two series of Royce Capital Fund (the "Trust"), an open-end management investment company organized as a Delaware statutory trust. Royce & Associates, LP, the Funds' investment adviser, is a majority-owned subsidiary of Franklin Resources, Inc. and primarily conducts business using the name Royce Investment Partners ("Royce"). Investment transactions are accounted for on the trade date. Portfolio securities held by the Funds are valued as of the close of trading on the New York Stock Exchange ("NYSE") (generally 4:00 p.m. Eastern time) on the valuation date. Investments in money market funds are valued at net asset value per share. Values for non-U.S. dollar denominated equity securities are converted to U.S. dollars daily based upon prevailing foreign currency exchange rates as quoted by a major bank.

Portfolio securities that are listed on an exchange or Nasdaq, or traded on OTC Market Group Inc.'s OTC Link ATS or other alternative trading system, are valued: (i) on the basis of their last reported sales prices or official closing prices, as applicable, on a valuation date; or (ii) at their highest reported bid prices in the event such equity securities did not trade on a valuation date. Such inputs are generally referred to as "Level 1" inputs because they represent reliable quoted prices in active markets for identical securities.

If the value of a portfolio security held by a Fund cannot be determined solely by reference to Level 1 inputs, such portfolio security will be "fair valued." The Trust's Board of Trustees has designated Royce as valuation designee to perform fair value determinations for such portfolio securities in accordance with Rule 2a-5 under the Investment Company Act of 1940 ("Rule 2a-5"). Pursuant to Rule 2a-5, fair values are determined in accordance with policies and procedures approved by the Trust's Board of Trustees and policies and procedures adopted by Royce in its capacity as valuation designee for the Trust. Fair valued securities are reported as either "Level 2" or "Level 3" securities.

As a general principle, the fair value of a security is the amount which a Fund might reasonably expect to receive for the security upon its current sale. However, in light of the judgment involved in fair valuations, no assurance can be given that a fair value assigned to a particular portfolio security will be the amount which the Fund might be able to receive upon its current sale. When a fair value pricing methodology is used, the fair value prices used by the Fund for such securities will likely differ from the quoted or published prices for the same securities.

Level 2 inputs are other significant observable inputs (e.g., dealer bid side quotes and quoted prices for securities with comparable characteristics). Examples of situations in which Level 2 inputs are used to fair value portfolio securities held by the Funds on a particular valuation date include:

● Over-the-counter equity securities other than those traded on OTC Market Group Inc.'s OTC Link ATS or other alternative trading system (collectively referred to herein as "Other OTC Equity Securities") are fair valued at their highest bid price when Royce receives at least two bid side quotes from dealers who make markets in such securities;

● Certain bonds and other fixed income securities may be fair valued by reference to other securities with comparable ratings, interest rates, and maturities in accordance with valuation methodologies maintained by certain independent pricing services; and

● The Funds use an independent pricing service to fair value certain non-U.S. equity securities when U.S. market volatility exceeds a certain threshold set by Royce as valuation designee. This pricing service uses proprietary correlations it has developed between the movement of prices of non-U.S. equity securities and indices of U.S.-traded securities, futures contracts, and other indications to estimate the fair value of such non-U.S. securities.

Level 3 inputs are significant unobservable inputs. Examples of Level 3 inputs include (without limitation) the last trade price for a security before trading was suspended or terminated; discounts to last trade price for lack of marketability or otherwise; market price information regarding other securities; information received from the issuer and/or published documents, including SEC filings and financial statements; and other publicly available information. Pursuant to the above-referenced policies and procedures, Royce may use various techniques in making fair value determinations based upon Level 3 inputs, which techniques may include (without limitation): (i) workout valuation methods (e.g., earnings multiples, discounted cash flows, liquidation values, derivations of book value, firm or probable offers from qualified buyers for the issuer's ongoing business, etc.); (ii) discount or premium from market, or compilation of other observable market information, for other similar freely traded securities; (iii) conversion from the readily available market price of a security into which an affected security is convertible or exchangeable; and (iv) pricing models or other formulas.

A security that is valued by reference to Level 1 or Level 2 inputs may drop to Level 3 on a particular valuation date for several reasons, including if:

● an equity security that is listed on an exchange or Nasdaq, or traded on OTC Market Group Inc.'s OTC Link ATS or other alternative trading system, has not traded and there are no bids;

● Royce does not receive at least two bid side quotes for an Other OTC Equity Security;

● the independent pricing services are unable to supply fair value prices; or

● the Level 1 or Level 2 inputs become otherwise unreliable for any reason (e.g., a significant event occurs after the close of trading for a security but prior to the time a Fund prices its shares).

The table below shows the aggregate value of the various Level 1, Level 2, and Level 3 securities held by the Funds as of March 31, 2026. Any Level 2 or Level 3 securities held by a Fund are noted in its Schedule of Investments. The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with owning those securities.

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Level 1** | **Level 2** | **Level 3** | **Total** |
| **Micro-Cap Portfolio** |  |  |  |  |
| Common Stocks | $98489055 | $519837 | $0 | $99008892 |
| Repurchase Agreement |  | 4177263 |  | 4177263 |
| **Small-Cap Portfolio** |  |  |  |  |
| Common Stocks | 169442187 |  |  | 169442187 |
| Repurchase Agreement |  | 1654390 |  | 1654390 |

---

**Repurchase Agreements:**

The Funds may enter into repurchase agreements with institutions that the Funds' investment adviser has determined are creditworthy. Each Fund restricts repurchase agreements to maturities of no more than seven days. Securities pledged as collateral for repurchase agreements, which are held until maturity of the repurchase agreements, are marked-to-market daily and maintained at a value at least equal to the principal amount of the repurchase agreement (including accrued interest). Repurchase agreements could involve certain risks in the event of default or insolvency of the counter-party, including possible delays or restrictions upon the ability of each Fund to dispose of its underlying securities. The remaining contractual maturities of repurchase agreements held by the Funds as of March 31, 2026, are next business day and continuous.

**Securities Lending:** 

The Funds loan securities through a lending agent, State Street Bank and Trust Company, to qualified institutional investors for the purpose of earning additional income. The lending agent receives and holds collateral from such borrowers to secure their obligations to the Funds. Such loans must be secured at all times by collateral in an amount at least equal to the market value of the loaned securities. The market values of the loaned securities and the collateral fluctuate and are determined at the close of each business day by the lending agent. Borrowers are required to post additional collateral to the lending agent on the next succeeding business day in the event of a collateral shortfall. Counterparty risk is further reduced by loaning securities only to parties that participate in a Global Securities Lending Program organized and monitored by the lending agent and that are deemed by it to satisfy its requirements and by having the lending agent enter into securities lending agreements with such borrowers. The lending agent is not affiliated with Royce.

Collateral may be in the form of cash or U.S. Treasuries. Cash collateral is invested in certain money market pooled investment vehicles. The Funds record a liability in their respective Statements of Assets and Liabilities for the return of such cash collateral during periods in which securities are on loan. The Funds bear the risk of loss for any decrease in the market value of the loaned securities or the investments purchased with cash collateral received from the borrowers.

Pursuant to the agreement in place between the Funds and the lending agent, if a borrower fails to return loaned securities, and the cash collateral being maintained by the lending agent on behalf of such borrower is insufficient to cover the value of loaned securities and provided such collateral insufficiency is not the result of investment losses, the lending agent shall, at its option, either replace the loaned securities or pay the amount of the shortfall to the Funds. In the event of the bankruptcy of a borrower, the Funds could experience delay in recovering the loaned securities or only recover cash or a security of equivalent value.

Loans of securities generally do not have stated maturity dates, and the Funds may recall a security at any time. The Funds' securities lending income consists of the income earned on investing cash collateral, plus any premium payments received for lending certain securities, less any rebates paid to borrowers and lending agent fees associated with the loan. Pursuant to the agreement in place between the Funds and the lending agent, the Funds are responsible for any shortfall in the event the value of the investments purchased with cash collateral is insufficient to pay the rebate fee to the borrower.

The following table presents non-cash collateral and the market value of securities on loan collateralized by non-cash collateral held by the Funds' custodian as of March 31, 2026:

---

| | | | |
|:---|:---|:---|:---|
| | <br>**Non-Cash Collateral** | **Securities on Loan**<br>**Collateralized by Non-Cash Collateral** | <br>**Net Amount** |
| **Micro-Cap Portfolio** | $346256 | $(337943) | $8313 |

---

Other information regarding the Fund is available in the Fund's most recent Prospectus, Annual and Semiannual Shareholder Reports, and Annual and Semiannual Financial Statements. This information is available through Royce Investment Partners (www.royceinvest.com) and on the Securities and Exchange Commission's website (www.sec.gov).

## 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:** 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 Capital Fund - Small-Cap Portfolio

- **b. EDGAR series identifier (if any):** S000009497

- **c. LEI of Series:** 254900NQQK01PV4NG288

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

- **a. Date of fiscal year-end:** 2026-12-31

- **b. Date as of which information is reported:** 2026-03-31

**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:** $171143621.84

**Total Liabilities:** $264174.95

**Net Assets:** $170879446.89

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000025977 | 4.99%                | 1.92%                | -2.78%               |
| Class ID C000033016 | 4.89%                | 1.97%                | -2.85%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $5291718.90              | $3194616.43                                |
| Month 2  | $2037728.54              | $1333219.57                                |
| Month 3  | $2374084.36              | $-7590109.18                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Academy Sports & Outdoors Inc           | Academy Sports & Outdoors Inc           | CUSIP: 00402L107<br>LEI: 529900HST589BD301M91 | Long             | EC               | CORP              | US        |     47262 | NS      | $2667939.90   | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Adeia Inc                               | Adeia Inc                               | CUSIP: 00676P107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     81076 | NS      | $1948256.28   | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Allison Transmission Holdings Inc       | Allison Transmission Holdings Inc       | CUSIP: 01973R101<br>LEI: 529900RP7DJ882LI9T83 | Long             | EC               | CORP              | US        |     27131 | NS      | $3175954.86   | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Amkor Technology Inc                    | Amkor Technology Inc                    | CUSIP: 031652100<br>LEI: 529900VHLRTKPWZJBM84 | Long             | EC               | CORP              | US        |     30109 | NS      | $1355808.27   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Amphastar Pharmaceuticals Inc           | Amphastar Pharmaceuticals Inc           | CUSIP: 03209R103<br>LEI: 54930055TH0ZLSAQMJ38 | Long             | EC               | CORP              | US        |     91885 | NS      | $1800027.15   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| ArcBest Corp                            | ArcBest Corp                            | CUSIP: 03937C105<br>LEI: 5493006S3KBNE8ZS3J23 | Long             | EC               | CORP              | US        |     13633 | NS      | $1340941.88   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Barrett Business Services Inc           | Barrett Business Services Inc           | CUSIP: 068463108<br>LEI: 529900HXB6TMG0SR9Y34 | Long             | EC               | CORP              | US        |     60475 | NS      | $1764660.50   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Bel Fuse Inc                            | Bel Fuse Inc                            | CUSIP: 077347300<br>LEI: 2549009L4XYDBRRY6X39 | Long             | EC               | CORP              | US        |      5189 | NS      | $1027318.22   | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Beacon Financial Corp                   | Beacon Financial Corp                   | CUSIP: 084680107<br>LEI: 549300AS2OC6UMMBNO37 | Long             | EC               | CORP              | US        |     81850 | NS      | $2455500.00   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Blue Bird Corp                          | Blue Bird Corp                          | CUSIP: 095306106<br>LEI: 5493004ZXJUUWQ65ER59 | Long             | EC               | CORP              | US        |     55000 | NS      | $3123450.00   | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Boyd Gaming Corp                        | Boyd Gaming Corp                        | CUSIP: 103304101<br>LEI: 254900787YGRYS2A1Z35 | Long             | EC               | CORP              | US        |     28954 | NS      | $2379439.72   | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Buckle Inc/The                          | Buckle Inc/The                          | CUSIP: 118440106<br>LEI: 5299007IU0461T3GDL34 | Long             | EC               | CORP              | US        |     59411 | NS      | $2991937.96   | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Burke & Herbert Financial Services Corp | Burke & Herbert Financial Services Corp | CUSIP: 12135Y108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     37431 | NS      | $2331576.99   | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Business First Bancshares Inc           | Business First Bancshares Inc           | CUSIP: 12326C105<br>LEI: 549300ILTC50KHDX4A08 | Long             | EC               | CORP              | US        |     91458 | NS      | $2473024.32   | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| CNB Financial Corp/PA                   | CNB Financial Corp/PA                   | CUSIP: 126128107<br>LEI: 254900RUYUOKD91VNX69 | Long             | EC               | CORP              | US        |     62209 | NS      | $1801572.64   | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Catalyst Pharmaceuticals Inc            | Catalyst Pharmaceuticals Inc            | CUSIP: 14888U101<br>LEI: 5299004O0R5XXLA5H544 | Long             | EC               | CORP              | US        |    138741 | NS      | $3435227.16   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Civista Bancshares Inc                  | Civista Bancshares Inc                  | CUSIP: 178867107<br>LEI: 5493001LX61Z2UVYSC48 | Long             | EC               | CORP              | US        |    116248 | NS      | $2649291.92   | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Collegium Pharmaceutical Inc            | Collegium Pharmaceutical Inc            | CUSIP: 19459J104<br>LEI: 54930049FXZMTLW8D496 | Long             | EC               | CORP              | US        |     59570 | NS      | $1969979.90   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| CorMedix Inc                            | CorMedix Inc                            | CUSIP: 21900C308<br>LEI: 5299006YIA3L0MBW8358 | Long             | EC               | CORP              | US        |    284829 | NS      | $1933988.91   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Diebold Nixdorf Inc                     | Diebold Nixdorf Inc                     | CUSIP: 253651202<br>LEI: 549300XZK6EWDBAZSY16 | Long             | EC               | CORP              | US        |     49852 | NS      | $3760834.88   | 2.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Dime Community Bancshares Inc           | Dime Community Bancshares Inc           | CUSIP: 25432X102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     12881 | NS      | $435635.42    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Donegal Group Inc                       | Donegal Group Inc                       | CUSIP: 257701201<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    125479 | NS      | $2155729.22   | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Enact Holdings Inc                      | Enact Holdings Inc                      | CUSIP: 29249E109<br>LEI: 9845003CA5664B741N19 | Long             | EC               | CORP              | US        |     70474 | NS      | $2876043.94   | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Entrada Therapeutics Inc                | Entrada Therapeutics Inc                | CUSIP: 29384C108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     76461 | NS      | $964937.82    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| ePlus Inc                               | ePlus Inc                               | CUSIP: 294268107<br>LEI: 529900FFY8AAFJ21NE91 | Long             | EC               | CORP              | US        |     22664 | NS      | $1705466.00   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Ethan Allen Interiors Inc               | Ethan Allen Interiors Inc               | CUSIP: 297602104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     46852 | NS      | $1042925.52   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Evercore Inc                            | Evercore Inc                            | CUSIP: 29977A105<br>LEI: 529900P6KLPT95DW3W58 | Long             | EC               | CORP              | US        |      9418 | NS      | $2811367.18   | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| FS Bancorp Inc                          | FS Bancorp Inc                          | CUSIP: 30263Y104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     62132 | NS      | $2397673.88   | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| First Bank/Hamilton NJ                  | First Bank/Hamilton NJ                  | CUSIP: 31931U102<br>LEI: 549300YS4CB1171BRJ08 | Long             | EC               | CORP              | US        |    171913 | NS      | $2750608.00   | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Frontdoor Inc                           | Frontdoor Inc                           | CUSIP: 35905A109<br>LEI: 5493008RB0JZJI3QGZ06 | Long             | EC               | CORP              | US        |     23639 | NS      | $1249557.54   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Gentex Corp                             | Gentex Corp                             | CUSIP: 371901109<br>LEI: 549300S3UD8XV1MN0287 | Long             | EC               | CORP              | US        |    121756 | NS      | $2660368.60   | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Harmony Biosciences Holdings Inc        | Harmony Biosciences Holdings Inc        | CUSIP: 413197104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     76841 | NS      | $2152316.41   | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Heritage Financial Corp/WA              | Heritage Financial Corp/WA              | CUSIP: 42722X106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     52007 | NS      | $1352182.00   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Innoviva Inc                            | Innoviva Inc                            | CUSIP: 45781M101<br>LEI: 549300ACOX4QTBES6535 | Long             | EC               | CORP              | US        |    109442 | NS      | $2549998.60   | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Interface Inc                           | Interface Inc                           | CUSIP: 458665304<br>LEI: 549300VXZWQOIDFPU355 | Long             | EC               | CORP              | US        |    103233 | NS      | $2572566.36   | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| J Jill Inc                              | J Jill Inc                              | CUSIP: 46620W201<br>LEI: 529900I19PJIF8MIDL12 | Long             | EC               | CORP              | US        |    170743 | NS      | $1956714.78   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Jabil Inc                               | Jabil Inc                               | CUSIP: 466313103<br>LEI: 5493000CGCQY2OQU7669 | Long             | EC               | CORP              | US        |      5518 | NS      | $1465746.34   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Kforce Inc                              | Kforce Inc                              | CUSIP: 493732101<br>LEI: 5493003RDQQDVXY2SK46 | Long             | EC               | CORP              | US        |     48754 | NS      | $1425566.96   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Kontoor Brands Inc                      | Kontoor Brands Inc                      | CUSIP: 50050N103<br>LEI: 549300M0CPXV65RFF271 | Long             | EC               | CORP              | US        |     37748 | NS      | $2653306.92   | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Korn Ferry                              | Korn Ferry                              | CUSIP: 500643200<br>LEI: 549300FOD20OM0GT5G40 | Long             | EC               | CORP              | US        |     44550 | NS      | $2804422.50   | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Lear Corp                               | Lear Corp                               | CUSIP: 521865204<br>LEI: 549300UPNBTXA1SYTQ33 | Long             | EC               | CORP              | US        |     26025 | NS      | $3151107.00   | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| M/I Homes Inc                           | M/I Homes Inc                           | CUSIP: 55305B101<br>LEI: 5299005M71FH9CCSFB69 | Long             | EC               | CORP              | US        |     24112 | NS      | $2952514.40   | 1.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Matador Resources Co                    | Matador Resources Co                    | CUSIP: 576485205<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | EC               | CORP              | US        |     50556 | NS      | $3194128.08   | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Maximus Inc                             | Maximus Inc                             | CUSIP: 577933104<br>LEI: 549300DQCDS8HJ7QF202 | Long             | EC               | CORP              | US        |     39202 | NS      | $2512848.20   | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Pediatrix Medical Group Inc             | Pediatrix Medical Group Inc             | CUSIP: 58502B106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     61116 | NS      | $1307271.24   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Meritage Homes Corp                     | Meritage Homes Corp                     | CUSIP: 59001A102<br>LEI: 52990044W9UMFJO2FB97 | Long             | EC               | CORP              | US        |     24908 | NS      | $1540310.72   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Mid Penn Bancorp Inc                    | Mid Penn Bancorp Inc                    | CUSIP: 59540G107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     63572 | NS      | $2044475.52   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| DNOW Inc                                | DNOW Inc                                | CUSIP: 67011P100<br>LEI: 549300AVH5SOCFVVDW91 | Long             | EC               | CORP              | US        |    151909 | NS      | $1809236.19   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Chord Energy Corp                       | Chord Energy Corp                       | CUSIP: 674215207<br>LEI: 529900FA4V2YNIKZ0M71 | Long             | EC               | CORP              | US        |     11674 | NS      | $1659809.32   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| OceanFirst Financial Corp               | OceanFirst Financial Corp               | CUSIP: 675234108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     65883 | NS      | $1188529.32   | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| PC Connection Inc                       | PC Connection Inc                       | CUSIP: 69318J100<br>LEI: 5299005WPRNIXDV2KM73 | Long             | EC               | CORP              | US        |     37025 | NS      | $2164481.50   | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Princeton Bancorp Inc                   | Princeton Bancorp Inc                   | CUSIP: 74179A107<br>LEI: 549300ZWKMVQ4WLNLQ57 | Long             | EC               | CORP              | US        |     50907 | NS      | $1719129.39   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| PulteGroup Inc                          | PulteGroup Inc                          | CUSIP: 745867101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     25265 | NS      | $2971416.65   | 1.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Riley Exploration Permian Inc           | Riley Exploration Permian Inc           | CUSIP: 76665T102<br>LEI: 5493008CUBI02XP43Q95 | Long             | EC               | CORP              | US        |     63196 | NS      | $2303494.20   | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| SM Energy Co                            | SM Energy Co                            | CUSIP: 78454L100<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | EC               | CORP              | US        |    101071 | NS      | $3151393.78   | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Sanmina Corp                            | Sanmina Corp                            | CUSIP: 801056102<br>LEI: X5K24XLM8QYRXF00EB42 | Long             | EC               | CORP              | US        |     20893 | NS      | $2708568.52   | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Shoe Carnival Inc                       | Shoe Carnival Inc                       | CUSIP: 824889109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    129625 | NS      | $2020853.75   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| SIGA Technologies Inc                   | SIGA Technologies Inc                   | CUSIP: 826917106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    170858 | NS      | $914090.30    | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Fixed Income Clearing Corp.             | FIXED INC CLEARING CORP.REPO            | CUSIP: 000000000<br>LEI: 549300H47WTHXPU08X20 | Long             | RA               | CORP              | US        |   1654390 | PA      | $1654389.78   | 0.97%             |  |  |  | No            |                  2 | On Loan: No      |
| Sterling Infrastructure Inc             | Sterling Infrastructure Inc             | CUSIP: 859241101<br>LEI: 549300RZIK6K1215XU51 | Long             | EC               | CORP              | US        |      2544 | NS      | $1036094.88   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Stride Inc                              | Stride Inc                              | CUSIP: 86333M108<br>LEI: 254900BRWS3AFONWU277 | Long             | EC               | CORP              | US        |     27071 | NS      | $2386850.07   | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| TD SYNNEX Corp                          | TD SYNNEX Corp                          | CUSIP: 87162W100<br>LEI: 5493004HI6PFLF46NS53 | Long             | EC               | CORP              | US        |     20825 | NS      | $3513385.75   | 2.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Taylor Morrison Home Corp               | Taylor Morrison Home Corp               | CUSIP: 87724P106<br>LEI: 5299009UDLLGLKOOJE30 | Long             | EC               | CORP              | US        |     43135 | NS      | $2512182.40   | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Timberland Bancorp Inc/WA               | Timberland Bancorp Inc/WA               | CUSIP: 887098101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     86554 | NS      | $3412824.22   | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Tiptree Inc                             | Tiptree Inc                             | CUSIP: 88822Q103<br>LEI: 254900EH52HA4YXENT37 | Long             | EC               | CORP              | US        |     71387 | NS      | $1207868.04   | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| TrustCo Bank Corp NY                    | TrustCo Bank Corp NY                    | CUSIP: 898349204<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      9906 | NS      | $433684.68    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| UFP Industries Inc                      | UFP Industries Inc                      | CUSIP: 90278Q108<br>LEI: 5493007KB485C9OV5572 | Long             | EC               | CORP              | US        |      4488 | NS      | $413434.56    | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| United Fire Group Inc                   | United Fire Group Inc                   | CUSIP: 910340108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     60785 | NS      | $2252692.10   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Unity Bancorp Inc                       | Unity Bancorp Inc                       | CUSIP: 913290102<br>LEI: 549300Q90ZRNUR65PL93 | Long             | EC               | CORP              | US        |     59644 | NS      | $3091348.52   | 1.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Univest Financial Corp                  | Univest Financial Corp                  | CUSIP: 915271100<br>LEI: 4WII2HCR8UEWNU03U507 | Long             | EC               | CORP              | US        |     34330 | NS      | $1176145.80   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Village Super Market Inc                | Village Super Market Inc                | CUSIP: 927107409<br>LEI: 25490069686XCNNEMQ07 | Long             | EC               | CORP              | US        |     80900 | NS      | $3416407.00   | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Visteon Corp                            | Visteon Corp                            | CUSIP: 92839U206<br>LEI: 549300MOVLYHRW4GGW78 | Long             | EC               | CORP              | US        |     29876 | NS      | $2722002.36   | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| WesBanco Inc                            | WesBanco Inc                            | CUSIP: 950810101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     61976 | NS      | $2137552.24   | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Western New England Bancorp Inc         | Western New England Bancorp Inc         | CUSIP: 958892101<br>LEI: 549300Y8QE4EI2LP6B42 | Long             | EC               | CORP              | US        |     19951 | NS      | $257966.43    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Williams-Sonoma Inc                     | Williams-Sonoma Inc                     | CUSIP: 969904101<br>LEI: 549300IARG6YWVTZ1I92 | Long             | EC               | CORP              | US        |      2184 | NS      | $398208.72    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| IBEX Holdings Ltd                       | IBEX Holdings Ltd                       | CUSIP: 000000000<br>LEI: 5493000GRFLPVYU2CX17 | Long             | EC               | CORP              | BM        |    126590 | NS      | $3395143.80   | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Signet Jewelers Ltd                     | Signet Jewelers Ltd                     | CUSIP: 000000000<br>LEI: 549300N3XPGE91WV7M22 | Long             | EC               | CORP              | BM        |     26612 | NS      | $2252439.68   | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Teekay Tankers Ltd                      | Teekay Tankers Ltd                      | CUSIP: 000000000<br>LEI: 549300DE8ZAIYS2T6Q22 | Long             | EC               | CORP              | BM        |     41926 | NS      | $3074014.32   | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Flex Ltd                                | Flex Ltd                                | CUSIP: 000000000<br>LEI: 549300EAQH74YHD07T53 | Long             | EC               | CORP              | SG        |     24390 | NS      | $1596569.40   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Genco Shipping & Trading Ltd            | Genco Shipping & Trading Ltd            | CUSIP: 000000000<br>LEI: 5493003MBZ5GU8QHXZ58 | Long             | EC               | CORP              | MH        |    134579 | NS      | $3034756.45   | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-04-24

**Name of Applicant:** ROYCE CAPITAL FUND

**Signature:** John Schwartz

**Name of Signer:** John Schwartz

**Title:** Associate General Counsel