Royce Investment Partners
Royce Invest
US Mid-cap
Dec 2024 → Dec 2025
Our archive holds 4 letters from this strategy, behind 19 investment theses and positions in 18 companies. Every quote below is copied verbatim from the letter it came from.
4 letters in 2 years — follow all of Royce Investment Partners for every strategy.
Its investment theses
- Amentum HoldingsSep 2025Amentum Holdings is a newly formed public company with strong growth potential, driven by a merger, improving order win rates, and expected margin expansion, trading at an attractive valuation relative to peers.
- ArcosaSep 2025Arcosa is strategically focusing on higher return growth businesses in U.S. infrastructure, particularly in aggregates and engineered structures, positioning itself for long-term earnings and cash flow growth through organic expansion and strategic acquisitions.
- ExponentSep 2025Exponent is a leading multidisciplinary consulting firm specializing in complex problem analysis, well-positioned for growth as technological innovation and safety concerns evolve.
- Gaztransport & TechnigazSep 2025Gaztransport & Technigaz (GTT) is the leading provider of membrane-containment systems for liquefied natural gas (LNG), holding over 70% of the global market share and offering strong financial performance with a compelling growth outlook.
- German American BancorpSep 2025German American Bancorp is a high-quality Midwest bank with strong returns on assets and equity, positioned for growth with a low valuation and promising earnings potential.
- Glacier BancorpSep 2025Glacier Bancorp is a regional bank with a strong market share in smaller markets, excellent credit quality, and expected robust earnings growth due to improving net interest margins and strategic acquisitions.
- JTCSep 2025JTC is a leading independent provider of fund and trust administration with a strong track record of revenue growth and potential for industry consolidation amid private equity interest.
- Mayville EngineeringSep 2025Mayville Engineering is transitioning from cyclical heavy vehicle manufacturing to higher-margin data center infrastructure, supported by lean operations and a focus on domestic sourcing, aiming for significant sales growth in 2026.
- Onto InnovationSep 2025Onto Innovation is a leader in providing essential inspection, metrology, and lithography equipment for semiconductor manufacturing, with strong growth prospects driven by technological advancements and a robust product pipeline.
- Riken KeikiSep 2025Riken Keiki is a dominant Japanese industrial company specializing in safety systems for hazardous worksites, with strong recurring revenues and significant potential for global market expansion.