Royce Small-Cap Trust (NYSE: RVT) as of Dec 31, 2025

Core Insights - The Royce Small-Cap Trust aims for long-term capital growth by investing at least 65% of its assets in equity securities of small- and micro-cap companies [8] Performance Summary - As of December 31, 2025, the Net Asset Value (NAV) was $17.69, while the market price (MKT) was $16.10 [1] - The average annual total return for the Fund as of December 31, 2025, was as follows: - One-Month: NAV 0.30%, MKT 2.41% - One-Year: NAV 14.03%, MKT 11.60% - Three-Year: NAV 16.03%, MKT 16.14% - Five-Year: NAV 8.10%, MKT 9.04% - Ten-Year: NAV 11.75%, MKT 12.29% [1] Portfolio Diagnostics - The average market capitalization of the portfolio is $3,334.9 million [3] - The weighted average Price-to-Earnings (P/E) ratio is 19.1x, and the weighted average Price-to-Book (P/B) ratio is 2.2x [3] - The total net assets of the Fund amount to $2.16 billion [3] Portfolio Composition - The top ten positions in the portfolio and their respective percentages of net assets are: - IES Holdings: 2.2% - Assured Guaranty: 1.4% - APi Group: 1.2% - Arcosa: 1.1% - ESAB Corporation: 1.1% - Sprott: 1.0% - Brady Corporation Cl. A: 1.0% - International General Insurance Holdings: 1.0% - E-L Financial: 1.0% - SEI Investments: 1.0% [7] - The top five sectors by percentage of net assets are: - Industrials: 25.6% - Financials: 20.8% - Information Technology: 14.1% - Health Care: 9.8% - Consumer Discretionary: 9.5% [7] Recent Developments - Royce Small-Cap Trust is the oldest and largest small-cap closed-end fund, with an average weekly trading volume of approximately 1,494,105 shares [6]