Royce Funds Comments on Cal-Maine Foods

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Mar 15, 2016

As it was in the first half of the year, the Fund’s top contributor in 2015 was Cal-Maine Foods (CALM), the largest producer of eggs in the U.S. Egg prices more than doubled in anticipation of supply constraints caused by a serious outbreak of avian flu in the Midwest. This happened as quick-service restaurants were also broadening their breakfast offerings. We took gains as its price soared.

From the Royce Premier Fund fourth quarter 2015 commentary.