Exploring Strategic Moves in the First Quarter of 2025

Royce International Premier Fund (Trades, Portfolio) recently submitted its N-PORT filing for the first quarter of 2025, shedding light on its strategic investment decisions during this period. The fund is renowned for its focus on a select group of "premier" non-U.S. small-cap companies, typically with market capitalizations up to $5 billion. These companies are characterized by their competitive advantages, high returns on invested capital, and sustainable, moat-like franchises. The fund aims to build a portfolio of high-quality, world-class businesses that are a-cyclical growers, capable of generating substantial free cash flow, and possessing genuine and defensible moats. It seeks companies with strengths in industry structure, competitive positioning, operational efficiency, financial track record, and corporate governance.

Warning! GuruFocus has detected 5 Warning Sign with XKRX:030190.Royce International Premier Fund Exits NICE Ltd, Impacting Portfolio by -2.24%

Summary of New Buy

Royce International Premier Fund (Trades, Portfolio) added a total of three stocks to its portfolio. The most significant addition was Baltic Classifieds Group PLC (LSE:BCG), with 207,284 shares, accounting for 0.62% of the portfolio and a total value of 805,370. The second largest addition was AIA Engineering Ltd (NSE:AIAENG), consisting of 20,064 shares, representing approximately 0.61% of the portfolio, with a total value of ?782,690. The third largest addition was Triveni Turbine Ltd (BOM:533655), with 117,137 shares, accounting for 0.59% of the portfolio and a total value of ?763,810.

Key Position Increases

Royce International Premier Fund (Trades, Portfolio) also increased its stakes in a total of four stocks. The most notable increase was in Gaztransport et technigaz SA (XPAR:GTT), with an additional 5,235 shares, bringing the total to 18,263 shares. This adjustment represents a significant 40.18% increase in share count, a 0.62% impact on the current portfolio, and a total value of 2,767,470. The second largest increase was in Dexerials Corp (TSE:4980), with an additional 48,600 shares, bringing the total to 189,900. This adjustment represents a significant 34.39% increase in share count, with a total value of ?2,347,050.

Summary of Sold Out

Royce International Premier Fund (Trades, Portfolio) completely exited seven holdings in the first quarter of 2025. Among them, NICE Ltd (NASDAQ:NICE) was sold entirely, with all 23,612 shares liquidated, resulting in a -2.24% impact on the portfolio. Additionally, Norva24 Group AB (OSTO:NORVA) was fully liquidated, with all 1,411,484 shares sold, causing a -1.88% impact on the portfolio.

Story Continues

Key Position Reduces

Royce International Premier Fund (Trades, Portfolio) also reduced its position in 40 stocks. The most significant changes include a reduction in ZUKEN Inc (TSE:6947) by 116,600 shares, resulting in a -57.58% decrease in shares and a -1.7% impact on the portfolio. The stock traded at an average price of ?4,604.53 during the quarter and has returned 12.74% over the past three months and 25.64% year-to-date. Additionally, Asseco Poland SA (WAR:ACP) was reduced by 106,941 shares, resulting in a -68.92% reduction in shares and a -1.39% impact on the portfolio. The stock traded at an average price of z?125.51 during the quarter and has returned 19.77% over the past three months and 73.18% year-to-date.

Portfolio Overview

As of the first quarter of 2025, Royce International Premier Fund (Trades, Portfolio)'s portfolio included 50 stocks. The top holdings included 3.66% in NICE Information Service Co Ltd (XKRX:030190), 3.04% in Ashtead Technology Holdings PLC (LSE:AT.), 2.85% in discoverIE Group PLC (LSE:DSCV), 2.74% in CVS Group PLC (LSE:CVSG), and 2.68% in BML Inc (TSE:4694).

The holdings are mainly concentrated in eight of the eleven industries: Technology, Industrials, Healthcare, Financial Services, Basic Materials, Communication Services, Energy, and Consumer Cyclical.

This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.

This article first appeared on GuruFocus.

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