Chuck Royce

Chuck Royce

Last Update: 2014-07-08

Number of Stocks: 1412
Number of New Stocks: 93

Total Value: $33,855 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

  • Currently 2.00/5

Rating: 2.0/5 (1 vote)

Three Insider Buys at 52-Week Lows Chuck Royce,Columbia Wanger - Three Insider Buys At 52-Week Lows
Over the past month three companies have reported insider buys as their price hits or nears 52-week lows. Looking at insider buys while they’re trading at low prices can offer an excellent time to buy into a company or further your research on the company. Peter Lynch once offered that insiders will sell their shares in a company for many reasons, but they will only invest it if they think that the share price will rise. More...

  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

A Hedge Fund with Strong Focus on 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.Recently the fund reported its equity portfolio, as at the end of June. The total value of the portfolio amounted to $134.9 million, up from $131.6 million disclosed at the end of the previous quarter. Consequently, the fund's total return was 2.5% in the last quarter. The filing revealed that at the end of June, the fund added 15 new positions to its equity portfolio. The top ten portfolio holdings as of the end of the quarter represented 95.31%. The largest changes from previous 13-F´s fillings are in the tech and consumer discretionary sectors.In this article, we have selected three companies, in which the fund holds the largest stakes, in terms of market value.The first on the list is China Yuchai International Limited (CYD), in which the fund disclosed a $49.83 million stake with over 2.34 million shares.Strategic AnnouncementsRecently, the company made two important announcements. Firstly, it announced that its main operating subsidiary, Guangxi Yuchai Machinery Company Limited, has entered into an equity transfer agreement to restructure the ownership of its joint venture company - Yuchai Remanufacturing Services (Suzhou) Co., Ltd. The latter will become a wholly-owned subsidiary of Guangxi. Further, the firm announced that new-energy buses running on engines supplied by Guangxi Yuchai have been launched in a city located in the Northeast China.Since the same quarter one year prior, revenues rose by 18.3%. Also, it has improved earnings per share by 3 cents in the most recent quarter compared to the same quarter a year ago. The net income increased by 3.6% when compared to the same quarter one year prior, going from $27.94 million to $28.95 million. As a matter of fact, the share price is higher by 6.39% to $21.97 after the company announcement.Other hedge fund gurus have also been active in the company. Jean-Marie Eveillard (Trades, Portfolio) has taken long positions too.UTStarcom Holdings Corp. (UTSI) comes in next, the fund owning over 10.25 million shares, worth $30.02 million.Good SalesThe Company has sold over $250 million of packet optical transport products that form the backbone of telecommunications network infrastructure. We expect the company to improve in several on its businesses.It reported earnings per share improvement in the most recent quarter compared to the same quarter a year ago. The firm has increased its ROE despite is still negative.Other hedge fund gurus have also been active in the company. Chuck Royce (Trades, Portfolio) and Jim Simons (Trades, Portfolio) have taken long positions in the first quarter of 2014.In Chiquita Brands International Inc. (CBQ) the fund disclosed ownership of over 1.23 million shares, worth $13.34 million.Ten YearsIts biodiversity partnership at the Nogal Nature and Community Project, created ten years ago in Costa Rica as a pilot contributing to the conservation of the region`s exceptional biodiversity continues to be an important driver for the company.Revenues and EPS declined in the most recent quarter compared to the same. Although its ROE greatly increased when compared to its ROE from the same quarter one year prior, is still negative.Other hedge fund gurus have also been active in the company. Steven Cohen (Trades, Portfolio) has taken long positions.Final CommentProbably the worst mistake a new investor can make is to not properly diversify their portfolio. But we already saw that this hedge fund has almost 70% of its portfolio in three stocks. The stock portion of the hedge fund portfolio won't be diversified, because it invests in a few individual stocks.Investors need at least twenty or thirty carefully selected individual stocks to be truly diversified. Diversify your portfolio asset allocation by spreading money amongst a variety of stocks is what I recommend, because it’s simple, diversification can work and can prevent your entire portfolio from losing value.Disclosure: Omar Venerio holds no position in any stocks or funds mentioned. More...

  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Royce Funds Commentary - Equities Remain Resilient in Current Environment
While there was a brief shift towards higher quality from April through mid-May, low quality reasserted itself in June to mark a fairly muted—and mixed—second-quarter performance for small-caps. Forty-plus-year industry veteranCharlie Dreifus discusses the market's behavior during this period, as well as the U.S. economy and stock market. More...

  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Royce Funds Commentary: Hong Kong: A Rich Market for Long-Term Investors
While largely out of favor, we are finding Hong Kong-listed Chinese companies that possess the characteristics we typically look for in our investments—high returns on invested capital, strong balance sheets, and attractive dividend yields. Portfolio Managers Jim Harvey and Dilip Badlani run through some names they currently like and talk about why the market is still appealing. More...

  • Currently 5.00/5

Rating: 5.0/5 (1 vote)

GEOS: Potential for the Patient Investor Chuck Royce,Paul Tudor Jones - GEOS: Potential For The Patient Investor
Geospace Technologies Corporation (GEOS) sells technology to companies that service the Exploration & Production sector of the oil and gas industry. It specializes in cable and wireless products for seismic and reservoir management. More...

VALUE, LONG, OIL AND GAS, ENERGY


  • Currently 5.00/5

Rating: 5.0/5 (1 vote)

Royce Funds Commentary - 2Q14 Market: Bullish Trend Continues
We believe both economic and market conditions appear sufficiently strong to keep the bullish trend going, although a correction in the near term would not surprise us. Nevertheless, conditions appear to be conducive for both a quality focus and active management, especially in the small-cap sector. More...

  • Currently 5.00/5

Rating: 5.0/5 (1 vote)

Royce Funds Commentary - Chuck Royce on 2Q14: Fundamentals Reassert Their Importance
Since the May 2013 low for the 10-year Treasury, we have seen the market shift its focus to more fundamentally and financially stronger companies with attractive long-term prospects—qualities that we have always championed at Royce. Chief Executive Officer and Portfolio Manager Chuck Royce explains why—after more than 40 years—he still feels bullish about active management in the small-cap space and offers his thoughts on equity market leadership so far in 2014, current valuations, and more. More...

  • Currently 2.00/5

Rating: 2.0/5 (1 vote)

Royce Funds Commentary - Stock Picking Matters in the Current Market Climate
Has the current market environment begun to favor less speculative companies and investment managers with a more active orientation? Director of Investments, Managing Director, and Portfolio Manager Whitney Georgetalks about valuations, sectors and industries that he believes look promising, and some names in which he has high conviction. More...

  • Currently 3.00/5

Rating: 3.0/5 (1 vote)

AGCO: Undervalued and On Your List
When a famous investing guru such as Martin Whitman (Trades, Portfolio), founder of Third Avenue Value Fund makes any move, it behooves the smartest of investors to watch where this great investor is headed. Whitman is not only a value investor emphasizing a buy and hold technique, he specializes in distressed companies. Every investor should include a copy of Whitman’s book entitled, “Distress Investing, Principles and Techniques”. You will not be disappointed. More...

MARTIN WHITMAN


  • Currently 5.00/5

Rating: 5.0/5 (1 vote)

Royce Funds Commentary - Looking Closer at Morningstar Peer Groups for Fund Analysis
Director of Risk Management Gunjan Banati sits down with Co-Chief Investment Officer Francis Gannon to discuss the results of her Morningstar peer group research and suggests ways in which investors can compare funds within peer groups more effectively. More...

  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Royce Funds Commentary - When is it Time to Sell: A WWE Case Study
As disciplined, contrarian investors, our take on a stock is often at odds with Wall Street's consensus. Portfolio Manager and Principal Jay Kaplan explains why we carefully assess the value of our holdings and why discipline and conviction are paramount to both buy and sell decisions. More...

  • Currently 5.00/5

Rating: 5.0/5 (1 vote)

Royce Funds Commentary - Why Have We Been Focusing on Cyclical Growth?
Chuck Royce and Co-Chief Investment Officer Chris Clark talk about our attraction to economically sensitive sectors and what we’ve been learning from our meetings with companies. More...

  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Top Guru-Owned Small-Cap Stocks Chuck Royce,Ken Fisher - Top Guru-Owned Small-Cap Stocks
Using the GuruFocus Aggregated Portfolio Screener you can filter results to see what companies maintain the highest amount of guru ownership. By using this screener, we filtered down to see small cap companies which are held by the most gurus. The following five small-capped companies are held by the largest number of gurus during the past quarter. More...

  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Royce Funds Commentary - Current Opportunities for Active Management
In the post financial-crisis period, there has been much debate over active versus passive strategies. Co-Chief Investment Officer Chris Clark and Chuck Royce discuss this topic, along with active management in the small-cap space, the characteristics of an actively managed portfolio versus those of an index-based portfolio, current small-cap opportunities, and the case for active management in today's environment. More...

  • Currently 5.00/5

Rating: 5.0/5 (1 vote)

Royce Funds Commentary - Wyper Likes Share Buybacks and Modest Dividends
Managing Director and Portfolio Manager George Wyper talks about the changes he’s been making to the portfolio of Royce Focus Value Fund since 2013; the company fundamentals he values most as an investor; and why he typically likes it when a company buys back shares. More...

  • Currently 5.00/5

Rating: 5.0/5 (1 vote)

Royce Funds Commentary - How Jay Kaplan Interprets Royce's Investment Process
At the heart of our investment process is risk management, a hallmark of our work put into practice by Chuck Royce more than 40 years ago. To this day, mitigating, controlling, and thinking about risk continues to guide our seasoned staff of investment professionals and to inform our long-term portfolio decisions. More...

  • Currently 4.00/5

Rating: 4.0/5 (1 vote)

Chuck Royce Q&A - Absolute Returns with Less Volatility: A Premise of Our Firm
In stark contrast to last year's virtually correction-free bull market, 2014 has already seen two pullbacks large enough to give investors pause. Chuck Royceand Chris Clark discuss the current environment and how we as a firm have attempted to guard against the market's volatile behavior. More...

  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Royce Funds Commentary - Our Favorite European Small-Caps
Europe is home to a number of world-class businesses, many of them export oriented. Portfolio Manager and Director of International Research David Nadel talks about some European companies that he currently likes. More...

  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Royce Funds Commentary - Why We're Optimistic About Japanese Micro-Caps
Royce International Micro-Cap Fund Portfolio Managers Jim Harvey and Dilip Badlani recently returned from their trip to Japan, where they were greeted with a sense of renewed optimism about the country's economy and growth potential from the management teams they met. More...

  • Currently 0.00/5

Rating: 0.0/5 (0 votes)

Three CEOs Reporting Large Insider Buys Chuck Royce - Three CEOs Reporting Large Insider Buys
Over the past week we’ve seen several large insider buys as well as several coming from the companies’ CEOs. It is interesting to note when a CEO, or even a CFO, buys because these insiders supposedly have the most intimate knowledge of their company's workings. More...

Add Notes, Comments or Ask Questions

User Comments

No comment yet

Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)
Free 7-day Trial
FEEDBACK
Email Hide