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Chuck Royce’s Q4 Updates, Plus His Largest Increase and Reduction
Posted by: Dianne Tordillo (IP Logged)
Date: January 8, 2013 04:23PM

Guru Chuck Royce of Royce & Associates has reported a total of 69 transactions in his fourth quarter portfolio updates, which consisted of 28 stake increases and 41 stake reductions.

Keeping small-cap stocks at the core of his funds, Royce manages 1,401 stocks in total, valued at $31.3 billion as of this latest update. His portfolio has a quarter-over-quarter turnover rate of 3 percent.

Currently, Royce’s top holdings are:

1. Lincoln Electric Holdings Inc. (LECO), which makes up 1 percent of his portfolio and 9.66 percent of shares outstanding.

2. Buckle Inc. (BKE), which makes up 1 percent of his portfolio and 14.94 percent of shares outstanding.

3. Westlake Chemical Corp. (WLK) which makes up 1 percent of his portfolio and 6.74 percent of shares outstanding.

4. Teradyne Inc. (TER) which makes up 0.99 percent of his portfolio and 11.65 percent of shares outstanding.

5. Reliance Steel and Aluminum (RS), which makes up 0.99 percent of his portfolio and 7.87 percent of shares outstanding.

The fund’s sector weightings is as follows:

Technology 25.80%
Consumer Cyclical 16.80%
Basic Materials 11.00%
Financial Servies 10.30%
Healthcare 6%
Consumer Defensive 4.10%
Energy 2.80%
Industrials 2%
Real Estate 1.70%
Utilities 0.40%
Communications Services 0.40%


Below are Royce’s largest stake increases among his fourth quarter updates, as well as his largest stake reduction.

Alamo Group Inc. (ALG)

Royce added 34.51 percent to his position in agriculture equipment manufacturer, Alamo Group. Royce has kept his holding pretty low over the years, until now, as he reached over 1 million shares after the recent purchase. In the third quarter, he only had 756,725 shares.

Alamo Group operates 18 plants in North America and Europe and is headquartered in England. Some of its products include truck and tractor mounted mowers, street sweepers, snow removal equipment and pothole patchers.

Trading at $34.30, the stock’s promising future is backed by at least 88.42 percent in returns in the last five years. Besides Royce, Alamo has captured the likes of Third Avenue Management, Joel Greenblatt and Jim Simons (Guru Trades: ALG).

To view its financial stats, visit 10-Year Financials.

Meadowbrook Insurance Group Inc. (MIG)

Royce shed 93.85 percent of his shares of Meadowbrook Insurance Group.

After selling the shares, Royce is left with a little over 225,000, compared to 4.2 million shares Royce had at one point during his holding history. In five years, the stock has declined in value by 35.21 percent.

Founded in 1955, Meadowbrook focuses on three segments of specialty insurance: insurance carrier operations, insurance services and retail/wholesale insurance agency operations. The company operates six insurance carriers and is nationally licensed. Insurance business ratings provider, A.M. Best, issued Meadowbrook a financial strength rating, as well as an issuer credit rating of A- (Excellent).

On GuruFocus, the company has a rating of 1 star in Business Predictability, 6 in Financial Strength and 6 in Profitability and Growth. It is currently trading at $5.96, down 0.5 percent this afternoon.

To view its financial stats, visit 10-Year Financials.

View Chuck Royce’s latest trades at Stock Picks. Also view his undervalued stocks, high-yield companies and top growth stocks.

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Guru Discussed: Chuck Royce: Current Portfolio, Stock Picks
Stocks Discussed: LECO, BKE, WLK, TER, RS, ALG, MIG,
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