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Funds (13F)

Royce & Associates LP

Backtest from 9 Aug 2013 to 2 Nov 2026 · weekly · hypothetical

Watch this strategy
Return a year
+12.3%
S&P 500 +13.9%
Last 12 months
+22.6%
S&P 500 +12.1%
Sharpe ratio
0.57
S&P 500 0.77
Biggest drop
−39.0%
S&P 500 −31.8%
$10.0k$20.0k$40.0k 2013201520172019202120232025 $55.9k$46.7k
Royce & Associates LPS&P 500 $10,000 in Royce & Associates LP from 9 Aug 2013 against the S&P 500 (total return) over the same dates, marked weekly, log scale. Hypothetical: before taxes and trading costs.

About

Copies Royce & Associates LP's quarterly 13F holdings in the companies we cover, weighted by reported value: it buys on the first trading day after each 13F is filed (up to 45 days after the quarter) and holds until the next filing. A 13F shows long US-listed positions only, at the quarter's end, so this misses shorts, cash, bonds, non-US holdings and trading within the quarter.

Royce & Associates LP's 13F holdings →

Key statistics

MeasureStrategyS&P 500
Return a year (compound)+12.3%+13.9%
Total return+367%+459%
Last 12 months+22.6%+12.1%
Last 3 months−4.0%—
Last month−1.6%—
This year so far+17.4%—
Volatility a year20.8%16.0%
Sharpe ratio0.570.77
Biggest drop−39.0%−31.8%
Beta to the S&P 5001.121.00
Alpha a year (t-statistic)−1.9% (−0.67)—
Share of weeks up56%—

Sharpe ratio uses returns above the 3-month Treasury bill rate. Alpha is the yearly return left after allowing for the strategy's exposure to the S&P 500 (CAPM); a t-statistic below about 2 means it cannot be told apart from luck.

Insights

CompanyWeightHeld sinceReturn since
KWR1.2%——
MKSI1.0%——
JBTM1.0%——
DORM1.0%——
IESC0.9%——
ONTO0.9%——
IPAR0.8%——
UCTT0.8%——
ESI0.8%——
SEIC0.8%——
ESE0.8%——
IGIC0.7%——
ESAB0.7%——
AGO0.7%——
KAI0.7%——
AAP0.7%——
NPO0.7%——
EXPO0.7%——
VVV0.7%——
UFPI0.6%——
NGVT0.6%——
COHU0.6%——
LCII0.6%——
ICHR0.6%——
RLI0.6%——
FSV0.6%——
CGNX0.5%——
DGII0.5%——
VMI0.5%——
LFUS0.5%——
CRUS0.5%——
MSA0.5%——
SSD0.5%——
RBA0.5%——
TECH0.5%——
GHM0.5%——
HCSG0.5%——
KN0.5%——
IMAX0.5%——
KFY0.5%——
UTI0.4%——
ASO0.4%——
ATMU0.4%——
BC0.4%——
AAON0.4%——
LYTS0.4%——
LSTR0.4%——
EVR0.4%——
SMP0.4%——
RS0.4%——
BBSI0.4%——
WDFC0.4%——
FROG0.4%——
VCTR0.4%——
MANH0.4%——
NWPX0.4%——
VNT0.4%——
ANDG0.4%——
BRC0.4%——
LECO0.4%——
MSM0.4%——
TTMI0.4%——
ADTN0.3%——
SII0.3%——
KLIC0.3%——
LAZ0.3%——
ESTA0.3%——
HRB0.3%——
TRNS0.3%——
CIGI0.3%——
KBR0.3%——
PACS0.3%——
BKU0.3%——
SLGN0.3%——
FORM0.3%——
AMN0.3%——
TREX0.3%——
WD0.3%——
AVTR0.3%——
NOMD0.3%——
WTTR0.3%——
EEFT0.3%——
LASR0.3%——
LXFR0.3%——
VC0.3%——
CAMT0.3%——
LMB0.3%——
NPKI0.3%——
APAM0.3%——
YETI0.3%——
NVST0.3%——
HCKT0.3%——
ROAD0.3%——
MOV0.3%——
NSP0.3%——
DOCN0.3%——
HOMB0.3%——
ATRO0.3%——
CBZ0.3%——
SKY0.3%——
LGN0.3%——
MATX0.3%——
APG0.3%——
SBCF0.3%——
YSWY0.3%——
LIND0.3%——
FTAI0.3%——
EZPW0.3%——
NVMI0.3%——
LNN0.3%——
TKR0.3%——
MRCY0.3%——
PI0.3%——
JILL0.3%——
MAN0.3%——
BFST0.2%——
WHD0.2%——
LION0.2%——
PLPC0.2%——
WWD0.2%——
AGI0.2%——
AIR0.2%——
ACVA0.2%——
MMS0.2%——
MEC0.2%——
MGNI0.2%——
TSEM0.2%——
MC0.2%——
GABC0.2%——
MG0.2%——
AMRC0.2%——
CMC0.2%——
CXT0.2%——
RELL0.2%——
ORN0.2%——
SEI0.2%——
AMSF0.2%——
KOPN0.2%——
INVA0.2%——
BCML0.2%——
RLGT0.2%——
LOB0.2%——
MBIN0.2%——
PLGO0.2%——
FTK0.2%——
M0.2%——
NTB0.2%——
ANGO0.2%——
MOD0.2%——
QNST0.2%——

Weighted by reported value in the latest 13F, held until the next filing.

PeriodReturn a yearS&P 500SharpeS&P 500Biggest dropBetaAlpha (t)
Whole backtest9 Aug 2013 to 2 Nov 2026+12.3%+13.9%0.570.77−39.0%1.12−1.9% (−0.67)
2018 onwards5 Jan 2018 to 2 Nov 2026+11.6%+13.9%0.470.66−39.0%1.11−2.3% (−0.57)
Last three years3 Nov 2023 to 2 Nov 2026+18.2%+21.8%0.711.16−25.3%1.07−3.1% (−0.42)
Last year7 Nov 2025 to 2 Nov 2026+24.3%+14.2%1.120.84−10.7%0.84+10.7% (0.77)
DateCompanyAction
21 Aug 2026YSWYBought
21 Aug 2026YSSBought
21 Aug 2026XENEBought
21 Aug 2026WYYBought
21 Aug 2026WOOFBought
21 Aug 2026WKBought
21 Aug 2026VRNSBought
21 Aug 2026UPWKBought
21 Aug 2026UHSBought
21 Aug 2026TTANBought
21 Aug 2026TMPBought
21 Aug 2026TDOCBought
21 Aug 2026TCMDBought
21 Aug 2026TATTBought
21 Aug 2026SYREBought
21 Aug 2026SYNABought
21 Aug 2026SFMBought
21 Aug 2026SAILBought
21 Aug 2026RYANBought
21 Aug 2026RMIXBought
21 Aug 2026PTONBought
21 Aug 2026PRAXBought
21 Aug 2026OUSTBought
21 Aug 2026NTSKBought
21 Aug 2026NHCBought

Dated at the rebalance that made the change.

DateCompanyAction
21 Aug 2026ZYMESold
21 Aug 2026XPELSold
21 Aug 2026WSFSSold
21 Aug 2026WORSold
21 Aug 2026WIXSold
21 Aug 2026WGOSold
21 Aug 2026VYXSold
21 Aug 2026VSTSSold
21 Aug 2026VERXSold
21 Aug 2026VERISold
21 Aug 2026URBNSold
21 Aug 2026UNFSold
21 Aug 2026TRMKSold
21 Aug 2026TMDXSold
21 Aug 2026TIPTSold
21 Aug 2026TALOSold
21 Aug 2026SXISold
21 Aug 2026SSYSSold
21 Aug 2026SHOOSold
21 Aug 2026SENEASold
21 Aug 2026SCHLSold
21 Aug 2026RNSTSold
21 Aug 2026RHSold
21 Aug 2026PUMPSold
21 Aug 2026PTGXSold

Dated at the rebalance that made the change.

Backtests are hypothetical and use today's listed companies only, which flatters results. Past performance does not predict future returns. This is research, not investment advice. How we backtest