Royce & Associates LP
Royce & Associates LP, now doing business as Royce Investment Partners, is a specialist asset management firm headquartered in New York, NY. Founded in 1972 by Charles M. Royce, the firm is renowned for its focus on small-cap and micro-cap equity investing. Royce is one of the longest-tenured and most experienced small-company stock managers in the U.S. industry. As a subsidiary of Franklin Resources, Inc. (Franklin Templeton), it offers a range of actively managed mutual funds and strategies to institutional and individual investors. The firm employs a bottom-up, value-oriented investment approach and as of 2025 manages nearly $9.75 billion in assets, with an estimated employee count in the low hundreds.
Investment Strategy
Royce & Associates specializes in the active management of U.S. and international small-cap and micro-cap equities, using a disciplined, value-oriented approach. Portfolio managers focus on companies with strong balance sheets, solid cash flow, and high returns on invested capital. Their long-term, absolute-performance approach emphasizes downside protection, seeking to deliver superior risk-adjusted returns by investing in high-quality, underappreciated smaller companies. Strategies are diversified across industries and geographies, while security selection is driven by rigorous fundamental research. Emphasis is placed on providing clients with innovative ways to access the small-cap asset class through a variety of distinct risk/return profiles.
Top Holdings
Equity Positions (769)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
S SEIC | SEI INVTS CO | 1.13% | $110.2M | 1,226,752 | $52.99 | $89.86 | +$10.9M |
A ACA | ARCOSA INC | 1.12% | $109.5M | 1,262,439 | $40.94 | $86.71 | +$12.8M |
H HAE | HAEMONETICS CORP MASS | 0.97% | $94.8M | 1,271,057 | $80.80 | $74.61 | +$21.0M |
M MKSI | MKS INC. | 0.93% | $90.9M | 915,111 | $77.03 | $99.36 | +$27.3M |
A AL | AIR LEASE CORP | 0.87% | $84.7M | 1,447,823 | $37.04 | $58.49 | -$15.2M |