Royce Micro-Cap Trust: What Worked... And What Didn't In 2025

The Royce Funds122 FollowersFollow5ShareSaveCommentsSummaryEight of the portfolio’s 11 equity sectors made a positive impact on calendar year performance, led by Industrials, Materials, and Financials.nLIGHT differentiates itself via vertical integration, domain knowledge, and manufacturing capabilities to deliver cutting edge solutions, increasingly to government and defense organizations.Shares of Sprott outperformed as gold prices broke out to record highs amid elevated geopolitical risk, central bank buying, and a weaker U.S. dollar.Open Lending's shares underperformed early in 2025 as the loan certification outlook worsened, and the company recognized a sizable profit share charge.Transcat reported solid year-over-year revenue growth in November 2025, but earnings were lower than expected, net income declined, and operating margins contracted. Galeanu Mihai/iStock via Getty Images The following segment was excerpted from the Royce Micro-Cap Trust (RMT) FY 2025 Commentary. Eight of the portfolio’s 11 equity sectors made a positive impact on calendar year performance, led by Industrials, Materials, and Financials. The only negativeThis article was written byThe Royce Funds122 FollowersFollowThe Royce Funds is a small-cap specialist with unparalleled knowledge and experience, offering distinct investment approaches to meet a variety of investors’ goals.