UNITED STATES
SECURITIES AND EXCHANGE
COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO
HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number: 811-08030
Name of Fund: | Royce Micro-Cap Trust, Inc. | |
Fund Address: | 745 Fifth Avenue | |
New York, NY 10151 |
Name and address of agent for service:
John E. Denneen, Esq.
Royce & Associates, LLC
745 Fifth Avenue
New
York, NY 10151
Registrants telephone number, including area code: (212) 508-4500
Date of fiscal year end: 12/31/2009
Date of reporting period: 9/30/2009
Item 1 - Schedule of Investments
SCHEDULE OF INVESTMENTS
ROYCE MICRO-CAP
TRUST
SEPTEMBER 30, 2009 (UNAUDITED)
SHARES | VALUE | |||||
COMMON STOCKS 106.6% | ||||||
Consumer Products 7.0% | ||||||
Apparel, Shoes and Accessories - 2.1% | ||||||
K-Swiss Cl. A a |
47,400 | $ | 416,646 | |||
Movado Group |
167,140 | 2,428,544 | ||||
Steven Madden a |
10,300 | 379,143 | ||||
12,300 | 318,939 | |||||
Weyco Group |
48,000 | 1,099,200 | ||||
Yamato International |
40,000 | 179,135 | ||||
4,821,607 | ||||||
Consumer Electronics - 0.6% | ||||||
DTS a |
50,000 | 1,369,000 | ||||
Food/Beverage/Tobacco - 1.5% | ||||||
200,000 | 916,000 | |||||
Seneca Foods Cl. A a |
51,400 | 1,408,360 | ||||
Seneca Foods Cl. B a |
42,500 | 1,192,550 | ||||
3,516,910 | ||||||
Health, Beauty and Nutrition - 0.2% | ||||||
NutriSystem |
37,700 | 575,302 | ||||
Home Furnishing and Appliances - 2.6% | ||||||
American Woodmark |
72,000 | 1,392,480 | ||||
Ethan Allen Interiors |
66,600 | 1,098,900 | ||||
Flexsteel Industries |
172,500 | 1,447,275 | ||||
29,900 | 648,531 | |||||
Natuzzi ADR a |
409,800 | 1,122,852 | ||||
Universal Electronics a |
21,000 | 428,820 | ||||
6,138,858 | ||||||
Total | 16,421,677 | |||||
Consumer Services 3.9% | ||||||
Online Commerce - 0.5% | ||||||
Alloy a |
36,002 | 243,733 | ||||
CryptoLogic |
88,300 | 521,853 | ||||
Knot (The) a |
10,000 | 109,200 | ||||
1-800-FLOWERS.COM Cl. A a |
59,140 | 204,033 | ||||
1,078,819 | ||||||
Restaurants and Lodgings - 0.0% | ||||||
Benihana Cl. A a |
16,300 | 93,399 | ||||
Retail Stores - 3.3% | ||||||
Americas Car-Mart a |
92,800 | 2,222,560 | ||||
7,600 | 37,012 | |||||
316,200 | 1,552,542 | |||||
China Nepstar Chain Drugstore ADR |
34,700 | 210,976 | ||||
dELiA*s a |
75,000 | 161,250 | ||||
18,500 | 295,445 | |||||
Le Chateau Cl. A |
27,900 | 323,131 | ||||
178,900 | 2,273,819 | |||||
West Marine a |
86,000 | 675,960 | ||||
7,752,695 | ||||||
Other Consumer Services - 0.1% | ||||||
10,000 | 166,300 | |||||
Total | 9,091,213 | |||||
Diversified Investment Companies 0.9% | ||||||
Closed-End Funds - 0.9% | ||||||
Central Fund of Canada Cl. A |
131,700 | 1,745,025 | ||||
Urbana Corporation a |
237,600 | 366,170 | ||||
Total | 2,111,195 | |||||
Financial Intermediaries 9.0% | ||||||
Banking - 4.3% | ||||||
Alliance Bancorp, Inc. of Pennsylvania |
50,420 | 438,150 | ||||
100,000 | 842,000 | |||||
BCB Holdings a |
806,207 | 1,578,340 | ||||
Cass Information Systems |
15,000 | 447,900 | ||||
Centrue Financial |
66,600 | 251,748 | ||||
CFS Bancorp |
75,000 | 355,500 | ||||
Chemung Financial |
40,000 | 818,000 | ||||
Commercial National Financial |
20,000 | 316,600 | ||||
Fauquier Bankshares |
135,800 | 1,967,742 | ||||
Financial Institutions |
36,000 | 358,920 | ||||
First Bancorp |
40,200 | 747,720 | ||||
HopFed Bancorp |
61,000 | 625,250 | ||||
LCNB Corporation |
30,000 | 329,700 | ||||
Wilber Corporation (The) |
126,850 | 1,065,540 | ||||
10,143,110 | ||||||
Insurance - 1.0% | ||||||
Greenlight Capital Re Cl. A a |
13,500 | 253,800 | ||||
Hilltop Holdings a |
121,400 | 1,488,364 | ||||
Independence Holding |
95,800 | 563,304 | ||||
2,305,468 | ||||||
Real Estate Investment Trusts - 0.2% | ||||||
Vestin Realty Mortgage II a |
184,391 | 532,890 | ||||
Securities Brokers - 3.0% | ||||||
Cowen Group a |
123,600 | 880,032 | ||||
Diamond Hill Investment Group a |
8,000 | 463,760 | ||||
366,600 | 2,173,938 | |||||
12,000 | 198,120 | |||||
Sanders Morris Harris Group |
199,000 | 1,176,090 | ||||
Thomas Weisel Partners Group a |
376,200 | 2,008,908 | ||||
6,900,848 | ||||||
Securities Exchanges - 0.5% | ||||||
Bolsa Mexicana de Valores a |
948,500 | 1,173,590 | ||||
Total | 21,055,906 | |||||
Financial Services 8.6% | ||||||
Diversified Financial Services - 0.8% | ||||||
Encore Capital Group a |
32,000 | 430,400 | ||||
FCStone Group a |
18,000 | 86,760 | ||||
56,251 | 1,418,088 | |||||
1,935,248 | ||||||
Information and Processing - 0.4% | ||||||
Value Line |
32,487 | 1,002,874 | ||||
Insurance Brokers - 0.1% | ||||||
Western Financial Group |
148,000 | 312,408 | ||||
Investment Management - 4.3% | ||||||
BKF Capital Group a |
130,200 | 131,502 | ||||
140,200 | 1,461,385 | |||||
Endeavour Financial b |
393,200 | 613,313 | ||||
Epoch Holding Corporation |
196,500 | 1,719,375 | ||||
Evercore Partners Cl. A |
13,600 | 397,392 | ||||
JZ Capital Partners |
210,666 | 870,308 | ||||
MVC Capital |
136,200 | 1,195,836 | ||||
Queen City Investments a |
948 | 1,042,800 | ||||
Sceptre Investment Counsel |
78,000 | 404,334 | ||||
U.S. Global Investors Cl. A |
91,500 | 1,128,195 | ||||
VZ Holding |
15,000 | 1,088,488 | ||||
10,052,928 | ||||||
Special Purpose Acquisition Corporation - 2.8% | ||||||
Prospect Acquisition a |
500,000 | 4,950,000 | ||||
Prospect Acquisition (Units) a |
50,000 | 514,000 | ||||
Shellproof a |
39,192 | 18,790 | ||||
Westway Group |
220,000 | 990,000 | ||||
6,472,790 | ||||||
Specialty Finance - 0.2% | ||||||
NGP Capital Resources |
68,080 | 494,261 | ||||
Total | 20,270,509 | |||||
Health 8.4% | ||||||
Commercial Services - 0.5% | ||||||
PAREXEL International a |
40,000 | 543,600 | ||||
104,800 | 479,984 | |||||
1,023,584 | ||||||
Drugs and Biotech - 1.1% | ||||||
Anadys Pharmaceuticals a |
65,400 | 172,002 | ||||
Hi-Tech Pharmacal a |
24,200 | 543,048 | ||||
25,700 | 204,572 | |||||
25,000 | 207,250 | |||||
Strategic Diagnostics a |
150,000 | 264,000 | ||||
Theragenics Corporation a |
306,900 | 491,040 | ||||
ViroPharma a |
77,000 | 740,740 | ||||
2,622,652 | ||||||
Health Services - 2.3% | ||||||
Advisory Board (The) a |
51,700 | 1,299,738 | ||||
8,007 | 260,788 | |||||
Computer Programs and Systems |
3,800 | 157,358 | ||||
eResearch Technology a |
127,000 | 889,000 | ||||
Gentiva Health Services a |
23,000 | 575,230 | ||||
11,900 | 454,937 | |||||
On Assignment a |
41,100 | 240,435 | ||||
40,000 | 742,800 | |||||
Psychemedics Corporation |
37,500 | 232,500 | ||||
Res-Care a |
28,980 | 411,806 | ||||
U.S. Physical Therapy a |
10,000 | 150,700 | ||||
5,415,292 | ||||||
Medical Products and Devices - 4.5% | ||||||
Allied Healthcare Products a |
226,798 | 1,065,951 | ||||
Atrion Corporation |
5,500 | 794,200 | ||||
62,600 | 95,152 | |||||
Cynosure Cl. A a |
18,500 | 215,525 | ||||
121,000 | 1,904,540 | |||||
Kensey Nash a |
20,000 | 579,000 | ||||
Medical Action Industries a |
125,250 | 1,511,767 | ||||
MEDTOX Scientific a |
20,000 | 182,000 | ||||
NMT Medical a |
228,500 | 470,710 | ||||
Palomar Medical Technologies a |
8,000 | 129,680 | ||||
Syneron Medical a |
69,200 | 789,572 | ||||
Utah Medical Products |
42,300 | 1,240,236 | ||||
Young Innovations |
61,450 | 1,616,749 | ||||
10,595,082 | ||||||
Total | 19,656,610 | |||||
Industrial Products 20.5% | ||||||
Automotive - 0.9% | ||||||
771,500 | 36,335 | |||||
SORL Auto Parts a |
48,810 | 251,372 | ||||
280,900 | 1,530,905 | |||||
Wonder Auto Technology a |
26,000 | 312,000 | ||||
2,130,612 | ||||||
Building Systems and Components - 2.4% | ||||||
AAON |
73,000 | 1,465,840 | ||||
Apogee Enterprises |
57,900 | 869,658 | ||||
90,000 | 1,952,100 | |||||
LSI Industries |
79,812 | 530,750 | ||||
42,000 | 134,400 | |||||
Preformed Line Products |
16,000 | 640,800 | ||||
5,593,548 | ||||||
Construction Materials - 2.0% | ||||||
Ash Grove Cement |
8,000 | 1,352,000 | ||||
Louisiana-Pacific Corporation a |
25,000 | 166,750 | ||||
Monarch Cement |
52,303 | 1,642,314 | ||||
90,000 | 1,638,000 | |||||
4,799,064 | ||||||
Industrial Components - 1.6% | ||||||
Deswell Industries b |
574,371 | 2,211,328 | ||||
Graham Corporation |
34,500 | 536,475 | ||||
Powell Industries a |
26,800 | 1,028,852 | ||||
3,776,655 | ||||||
Machinery - 5.7% | ||||||
Burnham Holdings Cl. A |
95,000 | 1,016,500 | ||||
Columbus McKinnon a |
10,100 | 153,015 | ||||
Eastern Company (The) |
39,750 | 632,025 | ||||
Flow International a |
40,000 | 103,600 | ||||
FreightCar America |
11,000 | 267,300 | ||||
Hardinge |
260,000 | 1,612,000 | ||||
Hollysys Automation Technologies a |
185,192 | 1,757,472 | ||||
Hurco Companies a |
56,666 | 967,855 | ||||
Jinpan International |
26,112 | 835,845 | ||||
K-Tron International a |
8,426 | 802,240 | ||||
Sun Hydraulics |
65,425 | 1,377,851 | ||||
Tennant Company |
92,300 | 2,682,238 | ||||
Williams Controls a |
125,000 | 1,122,500 | ||||
13,330,441 | ||||||
Metal Fabrication and Distribution - 3.0% | ||||||
Central Steel & Wire |
1,088 | 707,200 | ||||
CompX International Cl. A |
107,500 | 780,450 | ||||
Encore Wire |
15,000 | 335,100 | ||||
Foster (L.B.) Company Cl. A a |
11,100 | 339,438 | ||||
Friedman Industries |
2,025 | 12,150 | ||||
36,583 | 309,492 | |||||
Haynes International a |
3,100 | 98,642 | ||||
Ladish Company a |
45,000 | 680,850 | ||||
NN a |
114,300 | 530,352 | ||||
Olympic Steel |
22,000 | 631,180 | ||||
RTI International Metals a |
101,900 | 2,538,329 | ||||
6,963,183 | ||||||
Miscellaneous Manufacturing - 1.9% | ||||||
AZZ a |
2,000 | 80,340 | ||||
PMFG a |
143,800 | 1,849,268 | ||||
183,400 | 456,666 | |||||
Raven Industries |
58,400 | 1,561,032 | ||||
Synalloy Corporation |
58,200 | 552,318 | ||||
4,499,624 | ||||||
Pumps, Valves and Bearings - 0.2% | ||||||
CIRCOR International |
14,000 | 395,640 | ||||
Specialty Chemicals and Materials - 2.3% | ||||||
Aceto Corporation |
72,219 | 476,645 | ||||
Balchem Corporation |
42,250 | 1,111,175 | ||||
Hawkins |
69,866 | 1,632,070 | ||||
Park Electrochemical |
15,400 | 379,610 | ||||
Rogers Corporation a |
58,400 | 1,750,248 | ||||
5,349,748 | ||||||
Textiles - 0.4% | ||||||
Interface Cl. A |
27,000 | 224,100 | ||||
J.G. Boswell Company |
1,490 | 715,200 | ||||
939,300 | ||||||
Other Industrial Products - 0.1% | ||||||
50,000 | 206,000 | |||||
Total | 47,983,815 | |||||
Industrial Services 12.6% | ||||||
Advertising and Publishing - 0.2% | ||||||
125,000 | 571,250 | |||||
Commercial Services - 4.8% | ||||||
Acacia Research-Acacia Technologies a |
72,290 | 629,646 | ||||
ATC Technology a |
25,200 | 497,952 | ||||
CBIZ a |
47,000 | 350,620 | ||||
Diamond Management & Technology Consultants |
138,100 | 945,985 | ||||
Forrester Research a |
54,900 | 1,462,536 | ||||
Global Sources a |
33,330 | 228,977 | ||||
Heidrick & Struggles International |
10,000 | 232,600 | ||||
118,283 | 1,508,109 | |||||
Kforce a |
55,000 | 661,100 | ||||
Rentrak Corporation a |
13,300 | 237,538 | ||||
Spherion Corporation a |
436,600 | 2,711,286 | ||||
Team a |
79,400 | 1,345,830 | ||||
Waste Services a |
79,352 | 366,606 | ||||
11,178,785 | ||||||
Engineering and Construction - 2.1% | ||||||
Cavco Industries a |
9,400 | 333,700 | ||||
Exponent a |
58,400 | 1,645,128 | ||||
34,300 | 656,502 | |||||
Integrated Electrical Services a |
132,000 | 1,062,600 | ||||
11,700 | 374,985 | |||||
Skyline Corporation |
32,100 | 724,176 | ||||
Sterling Construction a |
11,700 | 209,547 | ||||
5,006,638 | ||||||
Food, Tobacco and Agriculture - 1.1% | ||||||
Cal-Maine Foods b |
22,500 | 602,325 | ||||
Farmer Bros. |
42,400 | 877,680 | ||||
Hanfeng Evergreen a |
25,000 | 141,503 | ||||
Origin Agritech a |
180,688 | 879,950 | ||||
12,300 | 181,056 | |||||
2,682,514 | ||||||
Industrial Distribution - 1.0% | ||||||
Houston Wire & Cable |
67,375 | 744,494 | ||||
Lawson Products |
63,800 | 1,110,758 | ||||
Toshin Group |
20,000 | 374,311 | ||||
2,229,563 | ||||||
Printing - 0.7% | ||||||
Bowne & Co. |
68,989 | 531,215 | ||||
Courier Corporation |
30,450 | 461,317 | ||||
CSS Industries |
18,043 | 356,710 | ||||
Multi-Color Corporation |
24,664 | 380,566 | ||||
1,729,808 | ||||||
Transportation and Logistics - 2.6% | ||||||
Forward Air |
50,700 | 1,173,705 | ||||
Frozen Food Express Industries |
157,000 | 460,010 | ||||
Marten Transport a |
8,550 | 145,863 | ||||
Pacer International a |
35,000 | 135,100 | ||||
19,000 | 1,434,500 | |||||
Transat A.T. Cl. B a |
37,000 | 583,692 | ||||
Universal Truckload Services |
134,200 | 2,215,642 | ||||
6,148,512 | ||||||
Other Industrial Services - 0.1% | ||||||
American Ecology |
6,000 | 112,200 | ||||
Total | 29,659,270 | |||||
Natural Resources 11.2% | ||||||
Energy Services - 4.3% | ||||||
67,650 | 464,079 | |||||
Dawson Geophysical a |
53,213 | 1,456,972 | ||||
Dril-Quip a |
22,500 | 1,116,900 | ||||
Gulf Island Fabrication |
29,116 | 545,634 | ||||
ION Geophysical a |
93,500 | 329,120 | ||||
Lufkin Industries |
1,000 | 53,180 | ||||
North American Energy Partners a |
50,000 | 300,000 | ||||
7,130 | 184,168 | |||||
Pason Systems |
139,200 | 1,618,680 | ||||
Pioneer Drilling a |
57,500 | 422,050 | ||||
T-3 Energy Services a |
29,150 | 574,255 | ||||
Tesco Corporation a |
50,000 | 399,000 | ||||
Willbros Group a |
159,200 | 2,424,616 | ||||
World Energy Solutions a |
72,920 | 239,178 | ||||
10,127,832 | ||||||
Oil and Gas - 0.4% | ||||||
Approach Resources a |
12,000 | 108,960 | ||||
75,000 | 126,750 | |||||
30,000 | 331,500 | |||||
Rosetta Resources a |
30,000 | 440,700 | ||||
1,007,910 | ||||||
Precious Metals and Mining - 3.5% | ||||||
Alamos Gold a |
47,100 | 414,404 | ||||
Allied Nevada Gold a |
123,700 | 1,211,023 | ||||
197,000 | 858,920 | |||||
Brush Engineered Materials a |
27,000 | 660,420 | ||||
Chesapeake Gold a |
20,000 | 79,018 | ||||
210,000 | 961,800 | |||||
Gammon Gold a |
83,836 | 713,444 | ||||
168,100 | 566,497 | |||||
Horsehead Holding Corporation a |
13,800 | 161,736 | ||||
Midway Gold a |
345,000 | 241,676 | ||||
Minefinders Corporation a |
36,000 | 350,640 | ||||
New Gold a |
141,200 | 535,148 | ||||
Northgate Minerals a |
270,000 | 723,600 | ||||
Seabridge Gold a |
16,700 | 477,620 | ||||
Victoria Gold a |
200,000 | 83,127 | ||||
50,000 | 119,000 | |||||
8,158,073 | ||||||
Real Estate - 3.0% | ||||||
Avatar Holdings a |
45,104 | 856,976 | ||||
Consolidated-Tomoka Land |
29,100 | 1,114,530 | ||||
21,500 | 797,650 | |||||
PICO Holdings a |
45,700 | 1,524,095 | ||||
Pope Resources L.P. |
48,505 | 1,168,485 | ||||
54,000 | 1,386,720 | |||||
ZipRealty a |
25,000 | 105,000 | ||||
6,953,456 | ||||||
Total | 26,247,271 | |||||
Technology 19.5% | ||||||
Aerospace and Defense - 2.2% | ||||||
Ducommun |
72,100 | 1,363,411 | ||||
HEICO Corporation |
33,600 | 1,456,896 | ||||
Innovative Solutions and Support a |
100,000 | 501,000 | ||||
Integral Systems a |
171,682 | 1,184,606 | ||||
SIFCO Industries a |
45,800 | 673,260 | ||||
5,179,173 | ||||||
Components and Systems - 3.9% | ||||||
Frequency Electronics a |
275,000 | 1,273,250 | ||||
Methode Electronics |
206,400 | 1,789,488 | ||||
Newport Corporation a |
55,900 | 489,684 | ||||
OPTEX Company |
35,000 | 431,237 | ||||
Richardson Electronics |
250,900 | 1,279,590 | ||||
Rimage Corporation a |
79,200 | 1,353,528 | ||||
Silicon Graphics International a |
90,000 | 603,900 | ||||
Technitrol |
150,000 | 1,381,500 | ||||
TransAct Technologies a |
78,600 | 416,580 | ||||
9,018,757 | ||||||
Distribution - 0.3% | ||||||
Agilysys |
90,000 | 593,100 | ||||
7,600 | 215,232 | |||||
808,332 | ||||||
Internet Software and Services - 1.0% | ||||||
110,000 | 304,700 | |||||
DealerTrack Holdings a |
31,000 | 586,210 | ||||
iPass |
210,000 | 289,800 | ||||
Marchex Cl. B |
138,200 | 678,562 | ||||
WebMediaBrands a |
525,000 | 378,000 | ||||
2,237,272 | ||||||
IT Services - 4.7% | ||||||
AsiaInfo Holdings a |
14,200 | 283,574 | ||||
Computer Task Group a |
256,100 | 2,076,971 | ||||
iGATE Corporation |
258,400 | 2,217,072 | ||||
Sapient Corporation a |
500,000 | 4,020,000 | ||||
Syntel |
43,300 | 2,066,709 | ||||
Yucheng Technologies a |
55,060 | 394,780 | ||||
11,059,106 | ||||||
Semiconductors and Equipment - 2.9% | ||||||
Advanced Energy Industries a |
7,600 | 108,224 | ||||
ATMI a |
6,400 | 116,160 | ||||
Coherent a |
34,000 | 792,880 | ||||
Exar Corporation a |
121,208 | 890,879 | ||||
Ikanos Communications a |
75,000 | 174,750 | ||||
Micrel |
80,000 | 652,000 | ||||
Microtune a |
362,000 | 658,840 | ||||
PLX Technology a |
80,000 | 269,600 | ||||
Rofin-Sinar Technologies a |
37,000 | 849,520 | ||||
TTM Technologies a |
114,400 | 1,312,168 | ||||
200,000 | 1,042,000 | |||||
6,867,021 | ||||||
Software - 3.0% | ||||||
ACI Worldwide a |
69,600 | 1,053,048 | ||||
American Software Cl. A |
63,700 | 415,961 | ||||
Bottomline Technologies a |
28,600 | 368,940 | ||||
Double-Take Software a |
22,400 | 228,256 | ||||
Fundtech a |
51,000 | 592,620 | ||||
Pegasystems |
84,000 | 2,900,520 | ||||
32,310 | 117,931 | |||||
PLATO Learning a |
160,000 | 691,200 | ||||
600,000 | 756,000 | |||||
7,124,476 | ||||||
Telecommunications - 1.5% | ||||||
Anaren a |
8,000 | 136,000 | ||||
Atlantic Tele-Network |
14,700 | 785,274 | ||||
11,700 | 71,604 | |||||
Diguang International Development a |
230,000 | 57,500 | ||||
Globecomm Systems a |
22,730 | 165,247 | ||||
PC-Tel a |
44,100 | 275,625 | ||||
ViaSat a |
46,812 | 1,244,263 | ||||
Zhone Technologies a |
1,331,600 | 665,800 | ||||
3,401,313 | ||||||
Total | 45,695,450 | |||||
Miscellaneous d 5.0% | ||||||
Total | 11,664,315 | |||||
TOTAL COMMON STOCKS | ||||||
(Cost $200,930,450) |
249,857,231 | |||||
PREFERRED STOCK 0.5% | ||||||
Seneca Foods Conv. a |
||||||
(Cost $578,719) |
45,409 | 1,271,452 | ||||
REPURCHASE AGREEMENT 18.9% | ||||||
State Street Bank & Trust Company, | ||||||
0.01% dated 9/30/09, due 10/1/09, |
||||||
maturity value $44,250,012 (collateralized |
||||||
by obligations of various U.S. Government |
||||||
Agencies, 3.625% due 10/18/13, valued at |
||||||
$45,357,750) |
||||||
(Cost $44,250,000) |
44,250,000 | |||||
COLLATERAL RECEIVED FOR SECURITIES LOANED 4.8% | ||||||
Money Market Funds | ||||||
Federated Government Obligations Fund |
||||||
(7 day yield-0.1287%) |
||||||
(Cost $11,187,924) |
11,187,924 | |||||
TOTAL INVESTMENTS 130.8% | ||||||
(Cost $256,947,093) |
306,566,607 | |||||
LIABILITIES LESS CASH AND OTHER ASSETS (5.2)% | (12,203,665 | ) | ||||
PREFERRED STOCK (25.6)% | (60,000,000 | ) | ||||
NET ASSETS APPLICABLE TO COMMON STOCKHOLDERS 100.0% | $ | 234,362,942 | ||||
Level 1 quoted prices in active markets for identical securities |
|
Level 2 other significant observable inputs (including quoted prices for similar securities, foreign securities that may be fair valued and repurchase agreements) |
|
Level 3 significant unobservable inputs (including the Funds own assumptions in determining the fair value of investments) |
Level 1 | Level 2 | Level 3 | Total | ||||||
Equities |
$224,801,829 | $26,290,519 | $36,335 | $251,128,683 | |||||
Cash Equivalents |
55,437,924 | 55,437,924 | |||||||
Level 3 Reconciliation: |
Change in | ||||||||||||||
unrealized | ||||||||||||||
Balance as of | appreciation | Realized Gain | Balance as of | |||||||||||
12/31/08 | (depreciation) | Purchases | Transfers In | Sales | (Loss) | 9/30/09 | ||||||||
Equities |
- | $168,034 | $23,754 | $74,554 | $3 | $(230,004) | $36,335 | |||||||
Repurchase Agreements:
The Fund
may enter into repurchase agreements with institutions that the Funds investment
adviser has determined are creditworthy. The 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 the Fund to dispose of its underlying
securities.
Securities Lending:
The Fund loans securities to qualified
institutional investors for the purpose of realizing additional income. Collateral
on all securities loaned for the Fund is accepted in cash and cash equivalents and
invested temporarily by the custodian. The collateral maintained is at least 100%
of the current market value of the loaned securities. The market value of the loaned
securities is determined at the close of business of the Fund and any additional
required collateral is delivered to the Fund on the next business day. The Fund
retains the risk of any loss on the securities on loan as well as incurring the
potential loss on investments purchased with cash collateral received for securities
lending.
Transactions in Affiliated Companies:
An Affiliated
Company as defined in the Investment Company Act of 1940, is a company in
which a fund owns 5% or more of the companys outstanding voting securities
at any time during the period. The Fund effected the following transactions in shares
of such companies for the nine months ended September 30, 2009:
Shares | Market Value | Cost of | Cost of | Realized | Dividend | Shares | Market Value | |||||||||
Affiliated Company | 12/31/08 | 12/31/08 | Purchases | Sales | Gain (Loss) | Income | 9/30/09 | 9/30/09 | ||||||||
Deswell Industries * | 824,371 | $1,096,413 | - | $710,000 | $(352,375) | $31,195 | ||||||||||
$1,096,413 | $(352,375) | $31,195 | ||||||||||||||
Other information regarding the Fund is available in the Funds most recent Report to Stockholders. This information is available through The Royce Funds (www.roycefunds.com) and on the Securities and Exchange Commissions website (www.sec.gov).
Item 2 - Controls and Procedures
(a) The Registrants principal executive and principal financial officers have concluded, based on their evaluation of the Registrants disclosure controls and procedures as of a date within 90 days of the filing date of this report (as required by Rule 30a-3(b) under the Investment Company Act of 1940 (the Act)), that the Registrants disclosure controls and procedures (as defined by Rule 30a-3(c) under the Act) are reasonably designed to ensure that information required to be disclosed by the Registrant on Form N-Q is recorded, processed, summarized and reported within the required time periods and that information required to be disclosed by the Registrant in the reports that it files or submits on Form N-Q is accumulated and communicated to the Registrants management, including its principal executive and principal financial officers, as appropriate to allow timely decisions regarding required disclosure.
(b) There were no changes in the Registrants internal control over financial reporting (as defined in Rule 30a-3(d) under the Act) during the Registrants last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the internal control over financial reporting.
Item 3 - Exhibits
Certifications pursuant to Rule 30a-2(a) under the Act are attached hereto.
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has
duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
Royce Micro-Cap Trust, Inc.
By:
/s/ Charles M. Royce
Charles M. Royce
President, Royce Micro-Cap Trust, Inc.
Date: November 17, 2009
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.
By:
/s/ Charles M. Royce
Charles M.
Royce
President, Royce Micro-Cap Trust, Inc.
Date: November 17, 2009
By:
/s/ John D. Diederich
John D. Diederich
Treasurer, Royce Micro-Cap Trust, Inc.
Date: November 17, 2009