Royce & Associates

Chuck Royce

Period

Q1 2026

Portfolio Date

Mar 31, 2026

Stocks Held

774

Market Value

$10.1B

Portfolio Analysis

AIPreview
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I. Institutional Overview

Chuck Royce and his firm, Royce & Associates, represent a cornerstone of American small-cap value investing. With a history spanning several decades, the institution has carved out a reputation for identifying undervalued gems within the smaller echelons of the equity market. As of the first quarter of 2026, specifically the reporting period ending March...

The current state of the portfolio reveals an institution that is characterized by extreme diversification and a meticulous, research-driven approach. Holding a staggering 774 individual stocks, the institution’s strategy is the antithesis of the "concentrated bet" philosophy. Instead, it employs a "broad-trawl" methodology, spreading capital across...

The institutional portrait of Royce & Associates in early 2026 is one of calculated stability and disciplined expansion. Despite the high number of holdings, the institution maintains a clear focus on specific industrial and technological themes. The portfolio value of $10.13 billion reflects a robust capital base that has remained resilient through various...

Based on the latest available 13F filing.

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Holdings Value Trend

Q2 2024

Q3 2024

Q4 2024

Q1 2025

Q2 2025

Q3 2025

Q4 2025

Q1 2026

Top 5 Holdings

1

$ACA

Arcosa, Inc.

1.3%

% of Portfolio

2

$KWR

Quaker Chemical Corporation

1.0%

% of Portfolio

3

$JBTM

JBT Marel Corporation

1.0%

% of Portfolio

4

$ESE

ESCO Technologies Inc.

0.9%

% of Portfolio

5

$MKSI

MKS Inc.

0.9%

% of Portfolio

Historical Positions

SymbolQ1 2026Q4 2025Q3 2025Q2 2025
ACA1.3%1.3%1.2%1.1%
KWR1.0%1.1%0.8%-
JBTM1.0%1.0%0.9%0.9%
ESE0.9%-0.8%-
MKSI0.9%1.0%1.0%0.9%
AGO0.8%0.9%0.9%0.9%
ESAB0.8%1.0%0.9%0.8%
SEIC0.8%0.8%0.8%1.1%
IGIC0.8%0.8%--
UFPI0.8%--0.8%

Post-Filing Contributors

Price change since reported price, ranked by portfolio contribution

COHU+91.28%
MKSI+50.26%
LFUS+36.43%
PENG+174.26%
IESC+53.49%

Post-Filing Detractors

Price change since reported price, ranked by portfolio contribution

EXPO-13.23%
HCKT-29.13%
UFPI-8.34%
TMDX-35.44%
VNT-19.17%

Sector Analysis

Energy3.9%
Others0.2%
Materials7.3%
Financials16.2%
Healthcare8.6%
Technology18.5%
Industrials26.4%
Real Estate1.3%

Trading Summary

1

$DOCN

0.2%

2

$FDS

0.1%

3

$AZTA

0.1%

4

$ALMS

0.1%

5

$FOXF

0.1%

6

$CENTA

0.1%

7

$CERT

0.1%

8

$SPIR

0.1%

9

$ZYME

0.1%

10

$CSW

0.1%

11

$MYE

0.1%

12

$UFPT

0.1%

13

$XRAY

0.1%

14

$CXDO

0.0%

15

$DFTX

0.0%

16

$LTRX

0.0%

17

$ASPN

0.0%

18

$AXL

0.0%

All Holdings

1

$ACA

1.3%

2

$KWR

1.0%

3

$JBTM

1.0%

4

$ESE

0.9%

5

$MKSI

0.9%

6

$AGO

0.8%

7

$ESAB

0.8%

8

$SEIC

0.8%

9

$IGIC

0.8%

10

$UFPI

0.8%

11

$LCII

0.7%

12

$IPAR

0.7%

13

$EXPO

0.7%

14

$LFUS

0.7%

15

$CRUS

0.7%

16

$IESC

0.7%

17

$KAI

0.7%

18

$RBC

0.7%

19

$ESI

0.7%

20

$ONTO

0.6%

21

$AAP

0.6%

22

$DORM

0.6%

23

$FSV

0.6%

24

$NGVT

0.6%

25

$COHU

0.6%

26

$VVV

0.6%

27

$NPO

0.6%

28

$ASO

0.6%

29

$SII

0.6%

30

$MRX

0.6%

31

$KFY

0.5%

32

$BRC

0.5%

33

$CPRX

0.5%

34

$CGNX

0.5%

35

$CECO

0.5%

36

$RLI

0.5%

37

$SSD

0.5%

38

$RBA

0.5%

39

$IMAX

0.5%

40

$UCTT

0.5%

41

$VMI

0.5%

42

$KN

0.5%

43

$AGI

0.5%

44

$CIGI

0.5%

45

$VNT

0.5%

46

$MHO

0.5%

47

$TRNS

0.5%

48

$ATMU

0.4%

49

$BC

0.4%

50

$DGII

0.4%