Chuck Royce (Trades, Portfolio) of Royce & Associates LLC has agreed to participate in a Q&A with GuruFocus. We would like to invite you, the readers and subscribers, to post your questions in the comment box below.
Please submit your questions by Friday, March 27.
Royce & Associates is a small-cap investing firm that invests in companies trading at a discounted price between 30% and 50% of the firm's business value estimate. The firm will then sell when the company reaches its estimated value.
The Royce Premier Fund, which is managed by Royce, has an average annual return of 11.98% over the past 20 years. The Fund currently has 67 holdings and has outperformed the Russell 2000 in 100% of all ten-year periods. The Fund's 10-year average of 11.4% is higher than the index average of 7.3%. See more of the Fund's performance rate here.
Royce's portfolio consists of 1,310 stocks with a total value around $28.82 billion and a quarter over quarter turnover of 5%.
23.6% of Royce's portfolio consists of stocks in the industrial sector, 21% are in the technology sector and 20.2% are consumer cyclicals.
Buckle, Inc. (BKE, Financial) is 1.3% of his overall portfolio and also the most heavily weighted stock. Royce currently owns 7,326,849 shares of BKE, valued at $384,5806,000.
The second most heavily weighted stock in Royce's portfolio is Thor Industries Inc (THO, Financial), which is 1.2% of his portfolio. Royce owns 6,381,307 shares, valued at $356,524,000.
Unifirst Corp (UNF, Financial) is his third most heavily weighted stock, consisting of 0.96% of his overall portfolio. Royce has 2,276,674 shares of UNF, valued at $276,502,000.
Royce recently increased his stakes in Amtech Systems Inc (ASYS, Financial) by 41.37%. He also reduced his stakes in Patriot Transportation Holdings Inc (PATI, Financial), Schnitzer Steel Industries Inc (SCHN, Financial) and EXFO Inc (EXFO, Financial).
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