Royce & Associates Buys Liberty Global, Dumps Baidu Inc, Aveo

Royce & Associates LLC has posted its 13F filing for the first quarter. Royce bought 95 new stocks, added to 466 positions. The fund dumped 118 stocks and cut its holdings in 500 others. The firm’s top holdings at the end of March were Thor Industries, Inc. (NYSE:THO) (1.3% of the portfolio), Unit Corporation (NYSE:UNT) (1.2% of the portfolio), Reliance Steel & Aluminum (NYSE:RS) (1.13% of the portfolio, Federated Investors Inc (NYSE:FII) (1.12% of the portfolio) and The Buckle, Inc. (NYSE:BKE) (1% of the portfolio).

Royce’s major additions, new purchases

During the first quarter, the fund’s biggest increase percentagewise was Liquidity Services, Inc. (NASDAQ:LQDT). In second place was EZCORP Inc (NASDAQ:EZPW). Shares of both increased by more than 5% in afternoon trading today. Royce snapped up nearly 7.2 million shares of The Buckle, Inc. (NYSE:BKE) and more than a million shares of Rovi Corporation (NASDAQ:ROVI). The firm also increased its position in J.C. Penney Company, Inc. (NYSE:JCP) and GameStop Corp. (NYSE:GME). Royce’s new purchases during the first quarter of the year include Liberty Global plc – Class A Ordinary Shares (NASDAQ:LBTYA), Coeur Mining Inc (NYSE:CDE), New York & Company, Inc. (NYSE:NWY), Hovnanian Enterprises, Inc. (NYSE:HOV), Kofax Ltd (NASDAQ:KFX), and Steelcase Inc. (NYSE:SCS).

Royce’s major exits and reductions

The fund’s major positions exited during the quarter were MSA SAFETY INC (NYSE:MSA), Tiffany & Co. (NYSE:TIF), Rollins, Inc. (NYSE:ROL) and Pier 1 Imports Inc (NYSE:PIR). Some of Royce’s other positions closed during the quarter include AVEO Pharmaceuticals, Inc. (NASDAQ:AVEO) and Baidu Inc (ADR) (NASDAQ:BIDU), Yahoo! Inc. (NASDAQ:YHOO), Google Inc (NASDAQ:GOOGL), JPMorgan Chase & Co. (NYSE:JPM), and The fund cut its position in BlackBerry Ltd (NASDAQ:BBRY) by 94%, selling off 135,000 shares of the struggling Canadian technology company. It also sold off nearly 1.5 million shares or 97% of its stake in World Wrestling Entertainment, Inc. (NYSE:WWE). Other position reductions include Mastercard Inc (NYSE:MA), COMSCORE, Inc. (NASDAQ:SCOR), Sunedison Inc (NYSE:SUNE), Intel Corporation (NASDAQ:INTC), NASDAQ OMX Group, Inc. (NASDAQ:NDAQ), Sothebys (NYSE:BID) and Tesco Corporation (USA) (NASDAQ:TESO).

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About the Author

Michelle Jones
Michelle Jones was a television news producer for eight years. She produced the morning news programs for the NBC affiliates in Evansville, Indiana and Huntsville, Alabama and spent a short time at the CBS affiliate in Huntsville. She has experience as a writer and public relations expert for a wide variety of businesses. Michelle has been with ValueWalk since 2012 and is now our editor-in-chief. Email her at Mjones@valuewalk.com.

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