Message ID: 163329
Posted By: stats_for_all
Posted On: 2004-08-04 23:09:00
Subject: Royce sells 450K in Q2

Royce posts its institutional holdings at Nasdaq.

It has been speculated the institutional holders are waiting for the others to jump first, if so Royce has just signaled the time has come to hit the exits. Note that this is current only to 6/30. The sharp downturn in July may represent more selling. The million share day at the end of July may represent this sell action.

as of 6/30/04
Held 1,299,700
Change (450,000)
Value $5,810

This is posted earlier than the Q1 data, which was not posted until the last legal day. Royce may be feeling some heat from the attention, or may want to signal something.
Please note that Cohen's share of SCOX in RYTVX was unchanged 6/30/04 at 450K, but has shrunk to 406K, so the sell off at Royce is continuing, and started later in the RYTVX fund.

Message ID: 163333
Posted By: stats_for_all
Posted On: 2004-08-05 00:36:00
Subject: Very Weird discrepancy in Royce data

Royce funds data reported on the Nasdaq site exhibit weird inconsistencies when compared to the RYTVX data.

The Royce Q2 institutional holding data on the Nasdaq site report that Royce has sold out of a number of issues which the RYTVX fund reports major positions in. Both lists are reported as valid for 6/30/04. Could RYTVX been divorced from the Royce institution, can't see this happening without major fundholder approval ?

Anyway, here a list of inconsistencies:

CYBS 935K RYTVX, reported 70K by Royce
ECLP 160K RYTVX, reported sold out Royce
NEOF 180K RYTVX. reported sold out Royce
SONE 170k RYTVX, reported sold out Royce
ABTL 150K RYTVX, not listed Royce

Tibco, Agile, and others show inconsistencies as well with sell outs being reported by Royce and positions shown by RYTVX.

RYTVX data:

Royce Institutional data (sort alphabetically to find issues)

Message ID: 163334
Posted By: stats_for_all
Posted On: 2004-08-05 01:06:00
Subject: Royce data > Edgar or Cohen screws up

Simplest explanation of the Royce data with missing and sold out issues, is that the Cohen fund RYTVX did not report to the overall portfolio. The Nasdaq data is maintained by Edgar, and may not of secured all components or checked for completeness.

I would like to think the reported sale of SCOX is genuine, but it is looking like the data on the Nasdaq site is eroneous.

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