RPMRX — Royce Pennsylvania Mutual Fund
Data updated: 2026-08-11
RPMRX — Royce Pennsylvania Mutual Fund. United States Small Cap Value Equity · $2.14B AUM · 1.74% expense ratio. Holdings, fees, performance and SEC filings.
RPMRX Fund Overview
RPMRX — Royce Pennsylvania Mutual Fund is a US mutual fund managed by Royce Fund, categorised as United States Small Cap Value Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Royce Fund
- Category: United States Small Cap Value Equity
- Assets under management: $2.14B
- 1-year return: -2.2%
- Ticker: RPMRX
- SEC CIK: 0000709364
- SEC series ID: S000009507
- Share class ID: C000038076
RPMRX Investment Objective and Strategy
Royce Pennsylvania Mutual Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Royce Fund.
Investment objective
Royce Small-Cap Funds investment goal is long-term growth of capital.
Principal investment strategy
Royce Investment Partners (Royce), the Funds investment adviser, invests the Funds assets primarily in equity securities of small-cap companies that it believes are trading below its estimate of their current worth. Small-cap companies are those that have a market capitalization not greater than that of the largest company in the Russell 2000 Index at the time of its most recent reconstitution. The Fund uses multiple investment disciplines in an effort to provide exposure to approaches that have historically performed well in different market environments. These disciplines include High Quality, which looks for companies that have high returns on invested capital and that Royce believes have significant competitive advantages; Emerging Quality, which seeks companies that are newer in their lifecycle but that Royce believes can become High Quality in the future; Traditional Value, which looks for companies trading at prices below Royces estimate of their current worth; and Quality Value, which seeks companies with attractive profit margins, strong free cash flows, and lower leverage that also trade at what Royce believes are attractive valuations.
The Funds portfolio managers generally focus on one of these approaches in managing segments of the Funds assets. A Royce Co-Chief Investment Officer will monitor and, from time to time, adjust the Funds allocations across these segments of the portfolio. The Fund invests at least 80% of its net assets in equity securities of small-cap companies, under normal circumstances. Although the Fund generally focuses on securities of U.S. companies, it may invest up to 25% of its net assets (measured at the time of investment) in equity securities of companies headquartered in foreign countries. The Fund may invest in other investment companies that invest primarily in equity securities. The Fund may sell securities to, among other things, secure gains, limit losses, redeploy assets into what Royce deems to be more promising opportunities, and/or manage cash levels in the Funds portfolio.
RPMRX Holdings
Top 10 holdings of Royce Pennsylvania Mutual Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Fixed Income Clearing Corp. | 3.38% |
| Arcosa Inc | 2.27% |
| Element Solutions Inc | 2.12% |
| Onto Innovation Inc | 1.39% |
| Enpro Inc | 1.31% |
| Quaker Chemical Corp | 1.18% |
| SEI Investments Co | 1.13% |
| Assured Guaranty Ltd | 1.10% |
| RBC Bearings Inc | 1.05% |
| JBT Marel Corp | 1.03% |
RPMRX Portfolio Allocation
Asset-class allocation of Royce Pennsylvania Mutual Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 96.6% |
| Cash & Equivalents | 3.9% |
RPMRX Performance
Total returns for RPMRX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -2.2% |
| 3 years (annualised) | 20.5% |
RPMRX Risk Information
Risk metrics for RPMRX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 25.6%
RPMRX Costs and Fees
RPMRX costs about $174 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.74%
- Gross expense ratio: 1.74%
- Portfolio turnover: 43%
- Brokerage commissions: 9.28 bps of average net assets (SEC N-CEN)
RPMRX Cashflows
Over the 12 months to 2026-06, Royce Pennsylvania Mutual Fund had net outflows of $53.63M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | −$11.90M |
| 2026-05 | −$5.82M |
| 2026-04 | −$6.97M |
| 2026-03 | −$4.13M |
| 2026-02 | −$11.35M |
| 2026-01 | −$9.19M |
RPMRX Debt Constituents
No individual debt constituents are reported in Royce Pennsylvania Mutual Fund's latest SEC N-PORT filing.
RPMRX Prospectus and SEC Filings
Official Royce Pennsylvania Mutual Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-04-30
- Prospectus (485BPOS) — filed 2025-04-29
- Prospectus (485BPOS) — filed 2024-04-29
- Portfolio holdings (N-PORT) — filed 2026-08-11
- Portfolio holdings (N-PORT) — filed 2026-05-21
- Portfolio holdings (N-PORT) — filed 2026-02-12
- Annual census (N-CEN) — filed 2026-03-11
- Annual census (N-CEN) — filed 2025-03-06
Related Funds
Other United States Small Cap Value Equity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.