Royce Global Trust (NYSE: RGT) as of Nov 30, 2025

Core Insights - The Royce Global Trust aims for long-term capital growth by investing primarily in small-cap and mid-cap companies, with a focus on international equities [8][2] - As of November 30, 2025, the Fund's net asset value (NAV) is $15.07, while the market price (MKT) is $12.65, indicating a potential discount for investors [1] - The Fund has shown strong performance with a year-to-date return of 20.08% for NAV and 17.98% for MKT, reflecting a robust investment strategy [1] Performance Metrics - The average annual total return for the Fund as of November 30, 2025, includes a one-month return of 1.96% for NAV and -1.17% for MKT, indicating volatility in market pricing [1] - Over the past three years, the NAV has returned 14.38% annually, while the MKT has returned 12.63%, showcasing the Fund's ability to outperform market prices over a longer period [1] Portfolio Composition - The average market capitalization of the Fund's holdings is $3.312 billion, with a weighted average P/E ratio of 26.1x and a P/B ratio of 3.1x, suggesting a focus on growth-oriented companies [3][5] - The top ten positions in the portfolio account for significant portions of net assets, with the largest being Tel Aviv Stock Exchange at 5.3% [7] - The Fund's sector allocation is heavily weighted towards Financials (29.9%) and Industrials (26.5%), indicating a strategic focus on these sectors [7] Investment Strategy - The Fund typically invests at least 80% of its net assets in equity securities and at least 65% in companies located in multiple countries outside the U.S., reflecting a global investment approach [8] - The investment strategy is managed by Royce & Associates, LP, which has over 50 years of experience in small- and micro-cap investments [6]