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Stock impact report

Royce Micro-Cap Fund FY 2025 Commentary [Seeking Alpha]

American Outdoor Brands, Inc. (AOUT) 
Company Research Source: Seeking Alpha
Seven of the portfolio's 10 equity sectors made a positive impact on calendar year performance, led by Industrials, Financials, and Information Technology. Our top contributor was nLIGHT, which designs, manufactures, and sells a range of high-power semiconductor and fiber lasers integrated into laser systems. The Fund's top detracting position was American Outdoor Brands, which was negatively impacted by retail customer conservatism as well as higher than expected tariff related costs. We believe that many of the trends that drove micro-cap performance in 2025 remain in place as we head into 2026. Donny DBM/iStock via Getty Images Fund Performance Royce Micro-Cap Fund ( RYOTX ) advanced 13.3 in 2025, lagging its benchmark, Russell Microcap Index, which was up 23.0% for the same period. Longer-term relative performance was better, however, as the Fund beat its benchmark for the 3-, 5-, 10-, and 25-year This article was written by Quick Insights RYOTX's underperforman Show less Read more
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