Morningstar® Investment Profile™   Morningstar®
for Print
Royce Capital Small-Cap Inv
Release date as of 2022-08-31. Data on page is subject to change.
Snapshot Ratings & Risk Portfolio Nuts & Bolts
  Morningstar Report
Overall Morningstar
What is this?
As of 2022-08-31
Out of 440
Small Value Funds
Style Box™
What is this?
As of 2022-06-30
Total Fund Assets ($ Mil)
View Historical Morningstar Star Ratings and Definitions
  Investment Objective & Strategy  
The investment seeks long-term growth of capital.
The fund invests the fund's assets primarily in equity securities of small-cap companies that Royce believes are trading below its estimate of their current worth. It generally invests in such companies that the advisor believes also possess financial strength, a strong business model, and the ability to generate and effectively allocate excess free cash flow.
  Morningstar Category: Small Value
Small-value portfolios invest in small U.S. companies with valuations and growth rates below other small-cap peers. Stocks in the bottom 10% of the capitalization of the U.S. equity market are defined as small cap. Value is defined based on low valuations (low price ratios and high dividend yields) and slow growth (low growth rates for earnings, sales, book value, and cash flow). 
  Investment Risks
Small Cap Funds: Smaller companies typically have higher risk of failure, and are not as well established as larger blue-chip companies. Historically, the smaller company stocks have experienced a greater degree of market volatility than the overall market average.
  Portfolio Profile
Asset Allocation
% of Net Assets
Bullet U.S. Stocks U.S. Stocks 93.3
Bullet Non-U.S. Stocks Non-U.S. Stocks 3.7
Bullet Bonds Bonds 0.0
Bullet Cash Cash 3.0
Bullet Other Other 0.0
Asset Allocation Rescaled Graph
Data through 2022-06-30
Morningstar Equity Sectors
% of Stocks
Cyclical 35.83
Basic Materials 0.99
Consumer Cyclical 12.29
Financial Services 20.99
Real Estate 1.56
Sensitive 52.06
Communication Services 3.00
Energy 6.45
Industrials 20.14
Technology 22.47
Defensive 12.11
Consumer Defensive 3.60
Healthcare 8.51
Utilities 0.00
Data through 2022-06-30
Holding Status
Total Number of Stock Holdings 97
Total Number of Bond Holdings 0
% of Net Assets in Top 10 Holdings 15.91
Turnover % (as of 2021-12-31) 51.00
30 Day SEC Yield % ---
Top Holdings
Sector P/E % of Net
Resources Connection Inc 9.77 1.68
Lincoln Educational Services Corp 7.67 1.66
Catalyst Pharmaceuticals Inc 26.55 1.65
Sanmina Corp 12.70 1.61
Kimball Electronics Inc 17.37 1.61
Schneider National Inc 8.76 1.56
ArcBest Corp 6.98 1.55
TD Synnex Corp 16.89 1.54
Amkor Technology Inc 7.14 1.53
ePlus Inc 12.08 1.52
Data through 2022-06-30
  Principal Risks   
Currency, Foreign Securities, Loss of Money, Not FDIC Insured, Country or Region, High Portfolio Turnover, Market/Market Volatility, Equity Securities, Industry and Sector Investing, Other, Management, Portfolio Diversification, Small Cap
Show Risk Definitions
  Other Information
Inception Date: 1996-12-27
Portfolio Manager(s)
Jay S. Kaplan   (2003-12-31)
Mr. Kaplan has been portfolio manager since 2011 and was previously assistant portfolio manager (2005-2011). His employer at Royce since 2000. Prior to joining the firm, he spent 12 years with Prudential Financial, most recently as a managing director and portfolio manager.
Investment Advisor(s)
Royce & Associates, LP
Royce Investment Partners
Show Data Definitions

© Copyright 2022 Morningstar, Inc.
All rights reserved. Morningstar, the Morningstar logo,, Morningstar Tools are either trademark or service marks of Morningstar, Inc. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or any losses arising from any use of information. Past performance is no guarantee of future performance.
Past performance is no guarantee of future results.
Returns will vary and shares may be worth more or less than their original cost when sold.