Chuck Royce

Royce & Associates

Last Update: 2013-05-07

Number of Stocks: 1366
Number of New Stocks: 90

Total Value: $32,623 Mil
Q/Q Turnover: 6%

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

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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

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Performance of Premier Fund (RYPRX)

Year	Return (%)	S&P500 (%)	Excess Gain (%)
2012	11.45	15.4	-3.9
2011	-0.86	2.08	-2.9
2010	26.46	15.06	11.4
3-Year Cumulative	39.7 (11.8%/year)	35.5 (10.7%/year)	4.2 (1.1%/year)
2009	33.25	26.46	6.8
2008	-28.29	-37	8.7
5-Year Cumulative	33.5 (6%/year)	8 (1.5%/year)	25.5 (4.5%/year)
2007	12.73	5.61	7.1
2006	8.81	15.79	-7.0
2005	17.07	4.91	12.2
2004	22.82	12	10.8
2003	38.74	28.7	10.0
10-Year Cumulative	226.7 (12.6%/year)	99.7 (7.2%/year)	127 (5.4%/year)
2002	-7.75	-22.1	14.4
2001	9.61	-11.9	21.5
2000	17.12	-9.1	26.2
1999	11.49	21	-9.5
1998	6.74	28.6	-21.9
15-Year Cumulative	360.4 (10.7%/year)	93.8 (4.5%/year)	266.6 (6.2%/year)
1997	18.41	33.4	-15.0
1996	18.13	23	-4.9
1995	17.81	37.6	-19.8
1994	3.28	1.3	2.0
1993	19.02	10.1	8.9
20-Year Cumulative	832.7 (11.8%/year)	388.1 (8.2%/year)	444.6 (3.6%/year)
1992	15.8	7.6	8.2

Commentaries and Stories

Currently 3.00/5

Rating: 3.0/5 (2 votes)

Expensive Insider Buys Reported from Four CEOs

May 20, 2013

It is interesting to watch insider buys from top executives like CEOs and CFOs because they are savvy buyers of their companies' shares. One long-term study showed that they beat the market on average by six percentage points a year. Over 20 years that's the difference between turning $10,000 into $67,000 and turning it into $194,000. More...

Currently 0.00/5

Rating: 0.0/5 (0 votes)

Charlie Dreifus: Dividends, Investing Across Market Caps, and Lessons from the Bear - Royce Funds Commentary

May 17, 2013

As the economy continues to move forward in a near zero interest rate environment and fixed-income instruments—such as bonds—may be losing steam, Portfolio Manager and Principal Charlie Dreifus believes a revival in equities—propelled by dividend increases by companies that currently offer them—may be likely. Charlie also talks about applying his accounting cynicism to small- and large-caps and what he learned from surviving the bear market of 1973-74. More...

Currently 2.00/5

Rating: 2.0/5 (1 vote)

Bill Hench: Making Room for New Opportunities - Royce Funds Commentary

May 16, 2013

[i]We saw a strong performance from Royce Opportunity Select Fund in 2012. Portfolio Manager Bill Hench provides an in-depth look into his 2013 portfolio positioning, Opportunity Select's ability to invest in both long and short positions, and the important differences between his Fund and Buzz Zaino'sOpportunity Fund. More...

Currently 4.33/5

Rating: 4.3/5 (3 votes)

POL Reports Dividend Growth, Increased Guru Ownership and Insider Ownership

May 14, 2013

PolyOne (POL) is a provider of specialized polymer materials, services and solutions with operations in specialty polymer formulations, color and additive systems, thermoplastic resin distribution and specialty vinyl resins. PolyOne is a mid-cap stock with a market capitalization of $2.35 billion. More...

Currently 3.75/5

Rating: 3.8/5 (4 votes)

Insider Buys at 52-Week Lows

May 4, 2013

Several insiders made buys this week as the price of their companies hit or neared 52-week low prices. The following insider buys were chosen as the insider buys at 52-week lows with the highest total transaction amounts. More...

Currently 3.00/5

Rating: 3.0/5 (1 vote)

Jay Kaplan Talks Dividends and Changes to Royce Value Fund

April 30, 2013

Jay Kaplan talks about the efforts he and Whitney George have been making to get Royce Value Fund back on track. He also discusses why the market looks likely to keep climbing and why dividend-paying stocks look popular so far in 2013.[b] More...

Currently 4.00/5

Rating: 4.0/5 (2 votes)

Highlighted Canadian Insider Transactions: April 17-24

April 29, 2013

This week in Canadian Insider Transaction, we saw increased buying and selling coming from individual directors and corporate executives. There was also an increase in sells in the Canadian petroleum producing industry. The insider buys saw an increase in multiple transactions for individual insiders. More...

Currently 3.33/5

Rating: 3.3/5 (3 votes)

Action on AIG, MS, WTSL - Warren Buffett Snags AIG Execs for Berkshire

April 29, 2013

It’s not so much an AIG walk out but a top executive stroll out to greener pastures in the Investors' Oz of Omaha. [i]The executive trading story of the hour is that Warren Buffett of Berkshire Hathaway Inc. (BRK.A) (BRK.B) is hiring AIG CEO Peter Eastwood and three other executives, according to Insurance Insider. The other AIG executives packing for Omaha are David J. Bresnahan, Sanjay Godhwani and David Fields. More...

APPAREL STORES, CAPITAL MARKETS, INSURANCE - DIVERSIFIED

Currently 3.25/5

Rating: 3.3/5 (4 votes)

Wealthtrack Interviews Guru Chuck Royce of The Royce Funds

April 27, 2013

Here's an exclusive interview with small-company stock pioneer Charles “Chuck” Royce. The Royce Fund’s Great Investor shares his 40 years of lessons learned in the markets - what’s changed and what still works for long-term investment success. More...

Video

Currently 0.00/5

Rating: 0.0/5 (0 votes)

Chuck Royce Buys Stifel Financial, Tidewater, Alamos, Sells Kennametal, Gardner Denver, Gartner

April 25, 2013

Small cap Guru Chuck Royce just reported his first quarter portfolio. Royce Premier Fund (RYPRX) has gained 6% a year over the past 5 years while the S&P 500 gained just 1.5% a year in the same period. Running a small cap portfolio, Royce Funds own more than a thousand stocks worth more than $30 billion. These are the details of the buys and sells that have the impact to portfolio of more than .1%. More...

Currently 4.50/5

Rating: 4.5/5 (2 votes)

11 Aerospace and Defense Companies at 52-Week Low

April 24, 2013

The GuruFocus 52-week low screener reveals that 11 aerospace and defense companies are at a 52-week low, 39 companies are at a 52-week high and the low/high ratio is 0.28. Here’s a look at four stocks at a 52-week low in this sector. More...

AEROSPACE & DEFENSE

Currently 4.00/5

Rating: 4.0/5 (3 votes)

118 Metals and Mining Companies at 52-Week Low

April 22, 2013

The GuruFocus 52-week low screener reveals that 118 companies in Metals and Mining are at a 52-week low, five companies are at a 52-week high and the low/high ratio is 23.6. More...

GOLD, SILVER, COPPER, INDUSTRIAL METALS & MINERALS

Currently 2.67/5

Rating: 2.7/5 (6 votes)

Last Guru Standing in Hawaii--Chuck Royce and the High-Cost of Paradise

April 22, 2013

It seems like paradise would come with potable water, irrigated golf courses, and robust sewer lines, but it doesn’t. It’s expensive to develop a luxury resort in paradise, as demonstrated by Maui Land & Pineapple Co. (MLP), a Hawaiian real estate and resort company with 23,400 acres of virtual heaven. The company owns and operates the Kapalua Resort on Hawaii’s northwest shore, as well as public utilities for its water supply, and other business segments. More...

REAL ESTATE - GENERAL

Currently 1.00/5

Rating: 1.0/5 (2 votes)

Blum on a Roll to Reduce - CECO's New CEO Named

April 19, 2013

As Career Education Corporation (CECO)'s cash flow problems and decreased enrollment issues continue in an atmosphere of controversy, its largest stakeholder is on a roll of reducing his ownership stake. Investor Guru Richard Blum, Blum Capital Partners, still holds 14.81% of CECO shares outstanding after this week’s reduction in the education company. At the same time, veteran educator Scott Steffey comes on board as the new president and CEO of Career Education Corporation. More...

EDUCATION & TRAINING SERVICES

Currently 4.00/5

Rating: 4.0/5 (4 votes)

Chuck Royce’s Top 5 New Q1 Purchases

April 18, 2013

Chuck Royce of the eponymous Royce Funds focuses on small-cap fare (market cap of up to $5 billion, though sometimes as high as $10 billion). A value investor, he shops for companies that are trading for less than their enterprise value. More...

Currently 2.00/5

Rating: 2.0/5 (2 votes)

Royce Funds Commentary - Chile: Reaching Potential for Future Possibilities

April 16, 2013

While Chile is often overshadowed by Brazil and currently remains challenged by income inequality, pollution, dependent corporate governance, and copper price swings, Analyst Dilip Badlani believes the underlying economy has the potential to provide us with opportunities that fit our investment criteria.One of my first impressions upon arriving in Santiago, Chile was that the nation's infrastructure is modern and efficient. The road from the airport to the city center is up to developed-world standards, and the metro system is the largest in South America.1 More...

Currently 5.00/5

Rating: 5.0/5 (1 vote)

Insider Buys at 52-Week Low

April 15, 2013

This past week we have seen several insiders buying back into their company when share prices are at or near their 52-week low. It is interesting to note these buys because researching these companies can help you find undervalued stocks that are oftentimes neglected by Wall Street. More...

Currently 1.00/5

Rating: 1.0/5 (1 vote)

The Clock is Ticking for Passive Management - Royce Funds Commentary

April 10, 2013

"Let us say, for the sake of this analogy, that economic profits are like basketball points, and the pressure of the shot clock (or lack thereof) in basketball requires shooting dynamism, just as the pressure of real rate of interest requires economic dynamism. Absent a ticking shot clock, the game can slow to a virtual standstill as an inferior team—in that 1950 stall-a-thon, the Pistons were up against the supremely large and talented George Mikan of the Lakers—may appear nearly the equal of a superior opponent in the low-scoring game that results. Likewise, absent the ‘ticking' (accrual) of a proper real rate of interest, poor investments can survive and even appear to be the equal of alternatives that could generate superior returns. No shot clock, fewer shots; no interest accrual, less monetary velocity." More...

Currently 5.00/5

Rating: 5.0/5 (1 vote)

Gurus Hold Green Tiger, HCCI on 52-Week Low

April 9, 2013

As of March 31, 2013, billionaire Guru Chuck Royce of Royce & Associates increased his Heritage-Crystal Clean Inc. (HCCI) position by 36.79%. He now holds 1,180,230 shares at an average price of $15.10. The current share price is $14.07, with a change from average down 7%. GuruFocus research shows that stock is down 33% over the last 12 months, and off 12% since January. Today’s current HCCI price is $14.17. More...

POLLUTION & TREATMENT CONTROLS

Currently 4.33/5

Rating: 4.3/5 (3 votes)

Whitney George on 1Q13 - Opportunities Amidst Extreme Valuations: Royce Funds

April 8, 2013

How would you describe the current state of the market? We're in a very interesting market period right now. One would think people would be euphoric given that popular equity indexes have been achieving new highs. Yet there is an underlying concern about all of the geopolitical issues that we've had to deal with over the last few years. More...