Royce Value Trust, INC.: insider trades · United States · SEC (Form 4)

About Royce Value Trust, INC.

Royce Value Trust, Inc. (ticker: RVT) is a U.S.-listed closed-end investment company traded on the NYSE in the United States. Since the name change that became effective on May 1, 2024, the fund has been branded as Royce Small-Cap Trust, Inc., although many market participants still refer to it by its former name. For investors, the key point is that RVT is not an operating business but an actively managed equity vehicle focused on U.S. small- and micro-cap stocks. As a closed-end fund, its shares can trade at a premium or discount to net asset value, which is a core analytical consideration for the stock. ([royceinvest.com](https://www.royceinvest.com/news/2024/1Q24/royce-announces-changes-for-two-of-its-closed-end-funds)) RVT is managed by Royce Investment Partners, a small-cap specialist founded in 1972 by Chuck Royce. The firm’s investment culture has been built around a valuation-sensitive, risk-conscious approach that emphasizes balance-sheet strength, cash generation, and attractive valuations. The fund states that it is the first small-cap closed-end fund and that it has been managed since its inception in 1986 using the same core approach developed by its founder. Its mandate normally requires substantial exposure to equity securities of small-cap and micro-cap companies, making it a focused portfolio rather than a broad-market product. ([royceinvest.com](https://www.royceinvest.com/funds/royce-small-cap-trust/)) In competitive terms, RVT benefits from a long operating history and a clearly differentiated niche in a segment where specialist expertise matters. Royce describes the fund as the oldest and largest small-cap closed-end fund, and its adviser highlights more than 50 years of small- and micro-cap investing experience. That longevity is meaningful because smaller companies are typically less efficiently covered, which can create opportunities for active managers with a deep research process and a strong historical track record in the asset class. ([royceinvest.com](https://www.royceinvest.com/News/2025/4Q25/PDF/1025RVT.pdf)) From a products-and-services perspective, RVT’s “product” is portfolio access to a diversified basket of U.S. small-cap and micro-cap equities, combined with periodic distributions and a listed share class that can be bought and sold on the market. The fund is headquartered and managed from New York, New York, at One Madison Avenue, and the broader Royce platform operates from the United States. While the portfolio is primarily domestic, the fund documents that it may at times allocate a meaningful portion of net assets to foreign securities, adding an occasional international dimension to the strategy. ([royceinvest.com](https://www.royceinvest.com/News/2025/4Q25/PDF/1025RVT.pdf)) Recent highlights include the strategic rebranding from Royce Value Trust to Royce Small-Cap Trust and the associated clarification of investment policies in 2024. More recent fund materials published in 2025 indicate approximately $2.15 billion in net assets as of October 31, 2025, reinforcing RVT’s scale within the small-cap closed-end fund universe. For French, Belgian, and Swiss investors, RVT is best understood as a specialist U.S. small-cap allocation tool listed on the NYSE, with performance and valuation dynamics that depend both on underlying portfolio results and on the market price relative to NAV. ([royceinvest.com](https://www.royceinvest.com/News/2025/4Q25/PDF/1025RVT.pdf))