Strong fundamentals, a bullish July, and a rough start to August may be the recipe for small-cap leadership.

Portfolio Managers Chip Skinner and Jim Stoeffel and Assistant Portfolio Manager Kavitha Venkatraman join CEO and Co-CIO Chris Clark and Co-CIO Francis Gannon for our Royce Roundtable, a new feature that highlights the insights of our investment teams.

A Down Then Up Quarter as U.S. Stocks Roar Back

Co-CIO Francis Gannon looks at how the shifting dynamics within private equity can enhance active small-cap management.

Portfolio Managers Brendan Hartman, Chip Skinner, Jay Kaplan, Jim Stoeffel, and Francis Gannon talk about some of the long-term buying opportunities in the current highly volatile small-cap market.

Co-CIOs Francis Gannon and Chris Clark look at the 1Q25 downturn and the bearish beginning of April.

Co-CIO Francis Gannon looks at why current economic uncertainty should not discourage investors with a long-term investment horizon.

Can relatively attractive valuations, strong earnings, and heightened volatility put small-cap back on top?

CEO and Co-CIO Chris Clark details why tariff-driven volatility can ultimately help small-cap performance.

Chuck Royce and Co-CIO Francis Gannon look at the promising forecast for small-cap earnings and discuss 4 high-conviction companies.

Co-CIO Francis Gannon looks back at a highly eventful week for stocks, and for small-caps in particular.

Co-CIO Francis Gannon looks at how a strong July, a broadening market, and a likely rate cut are all helping small-cap performance.

With August showing heightened volatility, CEO and Co-CIO Chris Clark looks at small-cap returns after previous periods of higher-than-usual share price fluctuations.

Co-CIO Francis Gannon looks at the confluence of volatility in politics and the stock market before examining what presidential election years have meant for small-cap stocks.

Co-CIO Francis Gannon looks at the promising combination of attractive valuations and robust net income estimates as catalysts for small-cap leadership.

Co-CIO Francis Gannon thinks current economic and investment conditions are creating potential advantages for active small-cap managers, with a particular edge developing for higher-quality small-cap companies.

Co-CIO Francis Gannon thinks a unique set of market circumstances and the prospects for active management in small-caps are creating the opportunity for both absolute and relative outperformance going forward.

Co-CIO Francis Gannon talks about the potential for better relative and absolute small-cap returns and how attractively low valuations in the asset class can help active small-cap management going forward.

Co-CIO Francis Gannon discusses why recent short-term outperformance may be signaling a leadership shift in favor of small cap.

Portfolio Managers Chuck Royce, Lauren Romeo, Jim Stoeffel, and Miles Lewis weigh in on what they expect from the rest of 2023.

Senior Analyst Zachary Weiss details the investment thesis for a newer holding in the Royce Premier Fund that is using computerization in mountain bikes and trucks.

Chuck Royce and Francis Gannon explain why history and fundamentals add up to a bullish take on small cap’s long-term prospects.

Co-CIO Francis Gannon discusses why, with so much attention on a recession, we are looking three to five years down the road toward an eventual recovery.

Co-CIO Francis Gannon on why we remain as excited about the opportunities within the asset class as we have been in more than a decade as the economy—as well as monetary and fiscal policy—are changing dramatically.

Portfolio Managers Chuck Royce, Lauren Romeo, Jim Stoeffel, and Miles Lewis weigh in on what investors may be missing as we head into next year.

Co-CIO Francis Gannon explains why, during moments of extreme uncertainty, we have always relied on history as our guide.