Chuck Royce

Chuck Royce

Last Update: 2014-10-08

Number of Stocks: 1422
Number of New Stocks: 95

Total Value: $33,597 Mil
Q/Q Turnover: 5%

Countries: USA
Details: Top Buys | Top Sales | Top Holdings  Embed:

Chuck Royce' s Profile & Performance

Profile

President, Co-Chief Investment Officer and Portfolio Manager

745 FIFTH AVENUE
NEW YORK NY 10151
212-508-4500

Web Page:http://www.roycefunds.com

Investing Philosophy

We invest in smaller companies, primarily those with market capitalizations up to $5 billion, although some of our Funds may invest in companies with market capitalizations up to $10 billion. The value approaches that our portfolio managers use share one significant trait: We are looking for what we believe are terrific stocks trading for less than our estimate of the company's worth as a business - its enterprise value.

Total Holding History

Performance of Premier Fund (RYPRX)

YearReturn (%)S&P500 (%)Excess Gain (%)
201327.7331.55-3.8
201211.4515.4-3.9
2011-0.862.08-2.9
3-Year Cumulative41.1 (12.2%/year)55 (15.7%/year)-13.9 (-3.5%/year)
201026.4615.0611.4
200933.2526.466.8
5-Year Cumulative137.8 (18.9%/year)125.5 (17.7%/year)12.3 (1.2%/year)
2008-28.29-378.7
200712.735.617.1
20068.8115.79-7.0
200517.074.9112.2
200422.821210.8
10-Year Cumulative200.8 (11.6%/year)104.1 (7.4%/year)96.7 (4.2%/year)
200338.7428.710.0
2002-7.75-22.114.4
20019.61-11.921.5
200017.12-9.126.2
199911.4921-9.5
15-Year Cumulative451 (12%/year)98.3 (4.7%/year)352.7 (7.3%/year)
19986.7428.6-21.9
199718.4133.4-15.0
199618.1323-4.9
199517.8137.6-19.8
19943.281.32.0
20-Year Cumulative900.9 (12.2%/year)483.2 (9.2%/year)417.7 (3%/year)
199319.0210.18.9
199215.87.68.2

Top Ranked Articles

GuruFocus Interview with Chuck Royce: Responses to Readers' Questions
A few weeks ago, GufuFocus invited readers to ask Chuck Royce their investing questions. Mr. Royce is the president and co-chief of The Royce Funds, whose Premier Fund (RYPRX) returned 26.5% last year, and a legendary small-cap investor. Read more...
Q and A with Gurus: Chuck Royce Takes Your Questions
GuruFocus is excited to announce that renowned small-cap investing guru Chuck Royce will join our readers for a Q&A session. Mr. Royce is the President and Co-Chief Investment Officer of New York-based Royce & Associates, a tremendously successful small-cap investing firm which has $37 billion in assets under management. Read more...
Exclusive Interview with Steven McBoyle: Portfolio Manager at Royce Funds
Steven G. McBoyle, CPA, CA, is a portfolio manager for Royce & Associates LLC, investment adviser for [i]The Royce Funds. He manages Royce SMid-Cap Value Fund (with Whitney George) and Royce SMid-Cap Select Fund. Mr. McBoyle joined Royce in 2007. He was previously a Partner (2005-2007), Portfolio Manager (2004-2007) and Senior Research Analyst (2001-2003) at Lord Abbett & Co. Prior to that, he was a vice president, mergers & acquisitions, at Morgan Stanley (2000-2001). Similarly, he was a vice president, mergers & acquisitions, at Salomon Brothers (1997-2000). Prior to that, Mr. McBoyle worked at Deloitte & Touche (1990-1995). Mr. McBoyle holds a bachelor's degree from the University of Waterloo, Canada, and a Master of Business Administration from Columbia University. He is also a chartered accountant, with a degree from the Institute of Chartered Accountants in Ontario, Canada. Read more...
Deep Sea Fishing in an Ocean of 52-Week Lows - Search 740 US Stocks
Like stocks at a 52-week low, some amazing and elusive deep sea fish live in the dark waters out of visual range, and some of the best catches can come from the mysterious floor. It could pay to motor out and cast a line in this week’s ocean of 52-week lows. Read more...
Bruce Berkowitz Has More Plans for The St. Joe Company Investment
No single bullet has been fired, but the debate between Bruce Berkowitz and David Einhorn over the investment merits of St. Joe Company (JOE) is simply spectacular. GuruFocus data shows Berkowitz controls about 26.9 million shares of the Florida land owner and real estate company. Einhorn, of course, started the whole fight by presenting a short case in this year’s Value Investing Congress. Read more...
» More Chuck Royce Articles

Commentaries and Stories

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Royce Funds Commentary - 'Why Consider Brazil Now?'
We see Brazil as a country whose investment appeal appears evident based on enduring themes, including burgeoning middle-class consumption, a young and unlevered population, business acumen in fields as diverse as agriculture and manufacturing, and more. More...

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Chase Corporation: Who’s Right for this Small Cap? Chuck Royce - Chase Corporation: Who’s Right For This Small Cap?
Running an eye down the Undervalued Predictable screener at GuruFocus, we come across a small cap that generates predictable earnings, and is classified as undervalued to boot. More...

CHASE CORPORATION, INDUSTRIAL MATERIALS, CONSTRUCTION MATERIALS, LONG


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Royce Funds Commentary - 'Five Things You Should Know About U.S. Small-Caps'
Co-Chief Investment Officer Francis Gannon offers five statistics we think every investor should know about U.S. small-caps in the current volatile investment environment. More...

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A Hedge Fund Exposed to China-based Companies
Over the past days hedge funds have been filing their form 13-F, which is a quarterly report of equity holdings by filed institutional investment managers with at least $100 million in equity assets under management, as required by the United States Securities and Exchange Commission (SEC). In this article, let´s concentrate in one particular hedge fund and try to see the principal holdings in its portfolio. I will look into Shah Capital Management LLC. More...

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Royce Funds Portfolio Manager Roundtable – Small Cap Investing Today Chuck Royce,Francis Gannon,Whitney George,Buzz Zai - Royce Funds Portfolio Manager Roundtable – Small Cap Investing Today
Chuck Royce, Francis Gannon, Whitney George, Buzz Zaino, Charlie Dreifus,Jay Kaplan, and Jack Fockler in an in-depth discussion about third-quarter and year-to-date performance, small-cap investing in the current environment, positioning and current outlook, the importance of process and discipline and more. More...

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Royce Funds Commentary - Small-Cap Investing Today: Perspectives from Our PM Roundtable
Chuck Royce, Francis Gannon, Whitney George, Buzz Zaino, Charlie Dreifus,Jay Kaplan, and Jack Fockler in an in-depth discussion about third-quarter and year-to-date performance, small-cap investing in the current environment, positioning and current outlook, the importance of process and discipline, and more. More...

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Royce Opportunity Fund - Looking for Success in Turnarounds: Royce Funds Commentary
Since Buzz Zaino assumed portfolio manager responsibilities in 1998, Royce Opportunity Fund has used a theme-based, opportunistic value approach with a long-term growth of capital investment objective. Today, Buzz is joined by Portfolio Manager Bill Hench, and the Fund enjoys a long-term track record that gives us great pride. More...

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Bargain Hunting For Energy Stocks Jim Simons,Chuck Royce - Bargain Hunting For Energy Stocks
The S&P 500 has fallen 7.16 percent from its peak. Although it feels like a large drop, the energy sector has fallen nearly three times as much. The Energy Select SPDR Fund (XLE) is now in bear territory with it being down 20.24 percent since its peak in late June. In an effort to find stocks that can bounce back strong from the malaise in the energy sector and hold their own in case of a prolonged downturn, I used the GuruFocus All-In-One Screener to screen for the following criteria: More...

Bargain, Energy, Oil and gas


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Chuck Royce Comments on Zebra Technologies
The Energy, Information Technology, Materials, and Financials sectors also posted solid net gains in the first half. Zebra Technologies (ZBRA) manufactures specialized printers, including direct thermal and thermal transfer label printers and radio frequency identification (RFID) printers and encoders. The firm announced strong fiscal fourth-quarter results early in 2014 that showed accelerating demand for its bar code printers and consumables after a period of channel destocking. It’s shares jumped again in April on news of Zebra’s announcement of its intent to purchase Motorola Solutions’ enterprise business, which adds mobile computing and data capture to the firm’s existing portfolio of technologies. We were happy to hold a good-sized stake in the stock at the end of the period. More...

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Chuck Royce Comments on Myriad Genetics
Six equity sectors made net contributions to first-half returns, with Health Care out in front, driven in large part by the terrific results for molecular diagnostic company Myriad Genetics (MYGN), which was among the portfolio’s five largest detractors in 2013 when we substantially increased our position. The company specializes in genetic testing for cancer and ended last year facing increased competition, particularly in breast cancer screening tests, and some still unresolved reimbursement issues that remained under federal review at the end of December. It was also facing skepticism from some quarters about the fallout from a June 2013 Supreme Court decision that genes could not be patented. Our take was that neither the high court ruling nor the increased competition would hurt the firm’s long-term health. We see the quality of its predictive tests as the industry’s gold standard, so we were quite pleased to see it continue to execute successfully (and profitably), as well as make a savvy acquisition of Crescendo Bioscience, in the first half. The acquisition diversifies Myriad’s already promising pipeline. More...

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Chuck Royce Comments on Nu Skin Enterprises
Even in a strong performance period, not everything goes well—small net losses came from the Consumer Discretionary and Consumer Staples sectors. Housed in the latter sector, Nu Skin Enterprises (NUS) makes and distributes personal care products and was the Fund’s top contributor in 2013. In the first half of 2014, however, it led all of the portfolio’s detractors by a sizable margin. The company encountered trouble when a report in a Chinese newspaper alleged that it was running a pyramid scheme back in January. Nu Skin then voluntarily suspended promotional meetings and new sales representative signups before paying modest fines to Chinese regulators in March. The firm also tightened its training procedures. Its shares recovered a bit before falling again in May, as opinion seemed divided as to whether this episode would register a short- or long-term effect on its global business, about a third of which is based in China. We were hopeful at the end of June that the company could eventually return to its former condition. More...

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Chuck Royce’s Royce Premier Fund Second Quarter 2014 Manager Commentary
The kind of well-run, fundamentally solid, and profitable companies that we typically seek for the portfolio of Royce Premier Fund have not been consistent market leaders over the last several years. But you wouldn’t know that by looking at the Fund’s first-half results. For the year-to-date period ended June 30, 2014, the Fund increased 7.3%, more than doubling the 3.2% gain of its small-cap benchmark, the Russell 2000 Index, over the same period. We refer to stocks with the characteristics listed above as quality companies, and they have been performing better by fits and starts dating back to the spring of 2012. Most rallies over that same period, however, have generally been better for lower-quality, faster-growing stocks or those with high yields. That held true for the small-cap market through 2014’s first six months, though the Fund’s first-quarter advantage and, more important, its strong showing through the year’s only correction allowed it to cruise past its benchmark. More...

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Rating: 3.5/5 (2 votes)

Royce Funds Commentary - The State of Small-Cap Valuations and Holding High-Confidence Names
With the U.S. economy and employment rate slowly improving, small-cap valuations may not see a correction significant enough to offer attractively discounted share prices any time soon—at least at the levels that Royce typically seeks. More...

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Royce Funds Commentary - 3Q14 Market: Small-Caps at a Relative Disadvantage
By Jack Fockler More...

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Chuck Royce on 3Q14 - Is Volatility Ushering in a New Market Phase?
Volatility shook the markets in the last three months, halting the bullish—and placid—pace of returns in a market that has not seen a significant correction since 2011. More...

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USPH: A Small Cap with Big Cap Predictability Chuck Royce - USPH: A Small Cap With Big Cap Predictability
Aches, pains and partnerships. That’s the story of U.S. Physical Therapy (USPH). Aches and pains, not to mention recovery after surgery, represent a growing market as the population ages, and younger generations hit the tennis courts and running tracks. More...

HEALTH CARE, SMALL CAP, LONG


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Starwood Hotels' Growth Drivers Look Attractive
In this article, let's take a look at Starwood Hotels & Resorts Worldwide Inc. (HOT), a $15.99 billion market cap company, which operates as a hotel and leisure company comprised of a network of approximately 1,100 full service hotels, vacation ownership resorts and residential developments. More...

Starwood, Starwood Hotels, hospitality


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T. Rowe Price: A Constant Flow of Capital
In this article, let's take a look at T. Rowe Price Group, Inc. (TROW), a $20.9 billion market cap company, which operates one of the largest no-load mutual fund and life-cycle fund complexes in the United States. More...

T. Rowe Price, Mutual fund


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AEO's CEO Makes Second Investment in Company
Shares in American Eagle Outfitters (AEO) were selling for 4.56% more on Tuesday than they did on Monday after Jay L. Schottenstein, AEO’s executive chairman and interim CEO, purchased nearly 150,000 shares in the company on Monday. More...

Retail, American Eagle Outfitters, Urban Outfitters, G-III


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Royce Funds Commentary - Bullish on the U.S. Manufacturing Renaissance and Cyclical Businesses
Portfolio Manager Steven McBoyle and Co-Chief Investment Officer Francis Gannon discuss current opportunities rooted in the accelerating growth of the U.S. economy and the search for companies that are investing strategically. More...

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