WASATCH CORE GROWTH FUND (WGROX / WIGRX) | DECEMBER 31, 2020 (UNAUDITED) |
Schedule of Investments
Shares | Value | |||||||
COMMON STOCKS 99.5% | ||||||||
Airlines 1.4% | ||||||||
249,856 | Allegiant Travel Co. |
$ | 47,282,749 | |||||
|
|
|||||||
Application Software 11.7% | ||||||||
284,381 | Avalara, Inc.* |
46,891,583 | ||||||
517,604 | Five9, Inc.* |
90,270,137 | ||||||
366,086 | Guidewire Software, Inc.* |
47,126,251 | ||||||
132,261 | HubSpot, Inc.* |
52,433,551 | ||||||
1,389,696 | Medallia, Inc.* |
46,165,701 | ||||||
327,382 | Paylocity Holding Corp.* |
67,411,228 | ||||||
372,354 | Q2 Holdings, Inc.* |
47,113,952 | ||||||
|
|
|||||||
397,412,403 | ||||||||
|
|
|||||||
Asset Management & Custody Banks 4.2% | ||||||||
923,171 | Cohen & Steers, Inc. |
68,591,605 | ||||||
980,130 | Hamilton Lane, Inc., Class A |
76,499,147 | ||||||
|
|
|||||||
145,090,752 | ||||||||
|
|
|||||||
Automotive Retail 2.2% | ||||||||
936,092 | Camping World Holdings, Inc., Class A |
24,385,197 | ||||||
936,405 | Monro, Inc. |
49,910,386 | ||||||
|
|
|||||||
74,295,583 | ||||||||
|
|
|||||||
Biotechnology 1.1% | ||||||||
386,219 | Ligand Pharmaceuticals, Inc.* |
38,409,480 | ||||||
|
|
|||||||
Building Products 2.7% | ||||||||
1,084,475 | Trex Co., Inc.* |
90,792,247 | ||||||
|
|
|||||||
Commercial Printing 0.9% | ||||||||
343,145 | Cimpress plc* |
30,107,542 | ||||||
|
|
|||||||
Commodity Chemicals 2.1% | ||||||||
3,169,709 | Valvoline, Inc. |
73,347,066 | ||||||
|
|
|||||||
Data Processing & Outsourced Services 4.6% | ||||||||
657,201 | Euronet Worldwide, Inc.* |
95,241,569 | ||||||
296,682 | WEX, Inc.* |
60,383,687 | ||||||
|
|
|||||||
155,625,256 | ||||||||
|
|
|||||||
Distributors 2.8% | ||||||||
259,105 | Pool Corp. |
96,516,612 | ||||||
|
|
|||||||
Diversified Banks 0.7% | ||||||||
9,322,681 | City Union Bank Ltd. (India) |
23,049,130 | ||||||
|
|
|||||||
Electronic Equipment & Instruments 1.7% | ||||||||
505,351 | Novanta, Inc.* |
59,742,595 | ||||||
|
|
|||||||
Electronic Manufacturing Services 2.2% | ||||||||
973,662 | Fabrinet* |
75,546,435 | ||||||
|
|
|||||||
Financial Exchanges & Data 4.4% | ||||||||
438,955 | Morningstar, Inc. |
101,648,809 | ||||||
1,379,648 | Open Lending Corp., Class A* |
48,232,494 | ||||||
|
|
|||||||
149,881,303 | ||||||||
|
|
|||||||
General Merchandise Stores 1.5% | ||||||||
612,447 | Ollies Bargain Outlet Holdings, Inc.* |
50,079,791 | ||||||
|
|
|||||||
Health Care Facilities 3.6% | ||||||||
1,141,543 | Ensign Group, Inc. (The) |
83,241,316 |
WASATCH CORE GROWTH FUND (WGROX / WIGRX) | DECEMBER 31, 2020 (UNAUDITED) |
Schedule of Investments (continued)
Shares | Value | |||||||
666,487 | Pennant Group, Inc. (The)* |
$ | 38,696,235 | |||||
|
|
|||||||
121,937,551 | ||||||||
|
|
|||||||
Health Care Supplies 1.7% | ||||||||
722,490 | Neogen Corp.* |
57,293,457 | ||||||
|
|
|||||||
Home Improvement Retail 2.1% | ||||||||
762,634 | Floor & Decor Holdings, Inc., Class A* |
70,810,567 | ||||||
|
|
|||||||
Homebuilding 1.3% | ||||||||
441,970 | Installed Building Products, Inc.* |
45,050,002 | ||||||
|
|
|||||||
Industrial Machinery 10.2% | ||||||||
1,707,732 | Altra Industrial Motion Corp. |
94,659,585 | ||||||
943,387 | Barnes Group, Inc. |
47,820,287 | ||||||
1,001,548 | Helios Technologies, Inc. |
53,372,493 | ||||||
491,597 | Kadant, Inc. |
69,305,345 | ||||||
374,381 | RBC Bearings, Inc.* |
67,029,174 | ||||||
496,252 | TriMas Corp.* |
15,716,301 | ||||||
|
|
|||||||
347,903,185 | ||||||||
|
|
|||||||
Industrial REITs 1.8% | ||||||||
3,495,993 | Monmouth Real Estate Investment Corp. |
60,550,599 | ||||||
|
|
|||||||
Internet & Direct Marketing Retail 1.0% | ||||||||
1,270,873 |
1-800-Flowers.com, Inc., Class A* |
33,042,698 | ||||||
|
|
|||||||
IT Consulting & Other Services 1.1% | ||||||||
107,388 | EPAM Systems, Inc.* |
38,482,490 | ||||||
|
|
|||||||
Leisure Facilities 1.0% | ||||||||
420,207 | Planet Fitness, Inc., Class A* |
32,620,669 | ||||||
|
|
|||||||
Leisure Products 2.0% | ||||||||
976,351 | YETI Holdings, Inc.* |
66,850,753 | ||||||
|
|
|||||||
Life Sciences Tools & Services 5.5% | ||||||||
446,882 | ICON plc* (Ireland) |
87,133,052 | ||||||
729,877 | Medpace Holdings, Inc.* |
101,598,879 | ||||||
|
|
|||||||
188,731,931 | ||||||||
|
|
|||||||
Managed Health Care 2.3% | ||||||||
1,118,331 | HealthEquity, Inc.* |
77,958,854 | ||||||
|
|
|||||||
Regional Banks 4.4% | ||||||||
2,269,829 | Bank OZK |
70,977,553 | ||||||
881,523 | Eagle Bancorp, Inc. |
36,406,900 | ||||||
1,041,872 | Webster Financial Corp. |
43,914,905 | ||||||
|
|
|||||||
151,299,358 | ||||||||
|
|
|||||||
Semiconductors 2.0% | ||||||||
185,765 | Monolithic Power Systems, Inc. |
68,032,716 | ||||||
|
|
|||||||
Specialized Consumer Services 1.9% | ||||||||
1,280,718 | Terminix Global Holdings, Inc.* |
65,329,425 | ||||||
|
|
|||||||
Specialized REITs 1.6% |
||||||||
1,506,274 | National Storage Affiliates Trust |
54,271,052 | ||||||
|
|
|||||||
Specialty Chemicals 2.0% | ||||||||
592,519 | Balchem Corp. |
68,270,039 | ||||||
|
|
|||||||
Specialty Stores 3.0% | ||||||||
408,450 | Five Below, Inc.* |
71,470,581 | ||||||
703,762 | National Vision Holdings, Inc.* |
31,873,381 | ||||||
|
|
|||||||
103,343,962 | ||||||||
|
|
WASATCH CORE GROWTH FUND (WGROX / WIGRX) | DECEMBER 31, 2020 (UNAUDITED) |
Schedule of Investments (continued)
Shares | Value | |||||||
Systems Software 5.3% | ||||||||
659,542 | CyberArk Software Ltd.* (Israel) |
$ | 106,575,392 | |||||
555,995 | Proofpoint, Inc.* |
75,843,278 | ||||||
|
|
|||||||
182,418,670 | ||||||||
|
|
|||||||
Trading Companies & Distributors 0.9% | ||||||||
197,558 | SiteOne Landscape Supply, Inc.* |
31,338,626 | ||||||
|
|
|||||||
Trucking 0.6% | ||||||||
108,009 | Old Dominion Freight Line, Inc. |
21,081,197 | ||||||
|
|
|||||||
Total Common Stocks (cost $2,031,916,534) |
3,393,796,745 | |||||||
|
|
|||||||
Principal Amount |
Value | |||||||
SHORT-TERM INVESTMENTS 0.8% | ||||||||
Repurchase Agreement 0.8% | ||||||||
$26,094,892 | Repurchase Agreement dated 12/31/20, 0.00% due 1/4/21 with Fixed Income Clearing Corp. collateralized by $26,646,600 of United States Treasury Notes 0.125% due 12/15/23; value: $26,616,834; repurchase proceeds: $26,094,892 (cost $26,094,892) |
$ | 26,094,892 | |||||
|
|
|||||||
Total Short-Term Investments (cost $26,094,892) |
26,094,892 | |||||||
|
|
|||||||
Total Investments (cost $2,058,011,426) 100.3% |
3,419,891,637 | |||||||
Liabilities less Other Assets (0.3%) | (10,999,947 | ) | ||||||
|
|
|||||||
NET ASSETS 100.0% |
$ | 3,408,891,690 | ||||||
|
|
|||||||
*Non-income producing.
REIT Real Estate Investment Trust.
See Notes to Schedules of Investments. |
At December 31, 2020, Wasatch Core Growth Funds investments, excluding short-term investments, were in the following countries:
COUNTRY |
% | |||
India |
0.7 | |||
Ireland |
2.6 | |||
Israel |
3.1 | |||
United States |
93.6 | |||
|
|
|||
Total |
100.0 | % | ||
|
|
WASATCH EMERGING INDIA FUND (WAINX / WIINX) | DECEMBER 31, 2020 (UNAUDITED) |
Schedule of Investments
Shares | Value | |||||||
COMMON STOCKS 102.5% | ||||||||
Apparel, Accessories & Luxury Goods 3.3% | ||||||||
32,049 | Page Industries Ltd. (India) |
$ | 12,100,743 | |||||
|
|
|||||||
Brewers 2.9% | ||||||||
652,349 | United Breweries Ltd. (India) |
10,591,771 | ||||||
|
|
|||||||
Commodity Chemicals 4.2% | ||||||||
1,491,411 | Berger Paints India Ltd. (India) |
15,471,852 | ||||||
|
|
|||||||
Consumer Finance 13.8% | ||||||||
554,376 | Bajaj Finance Ltd. (India) |
40,117,194 | ||||||
910,917 | SBI Cards & Payment Services Ltd. (India) |
10,607,990 | ||||||
|
|
|||||||
50,725,184 | ||||||||
|
|
|||||||
Department Stores 3.9% | ||||||||
1,521,425 | Trent Ltd. (India) |
14,284,019 | ||||||
|
|
|||||||
Diversified Banks 13.6% | ||||||||
1,791,925 | City Union Bank Ltd. (India) |
4,430,304 | ||||||
1,479,202 | HDFC Bank Ltd.* (India) |
29,120,445 | ||||||
596,488 | Kotak Mahindra Bank Ltd.* (India) |
16,289,488 | ||||||
|
|
|||||||
49,840,237 | ||||||||
|
|
|||||||
Food Retail 4.7% | ||||||||
454,374 | Avenue Supermarts Ltd.* (India) |
17,163,202 | ||||||
|
|
|||||||
Health Care Services 4.2% | ||||||||
495,154 | Dr. Lal PathLabs Ltd. (India) |
15,599,884 | ||||||
|
|
|||||||
Industrial Conglomerates 1.9% | ||||||||
24,166 | 3M India Ltd.* (India) |
6,895,153 | ||||||
|
|
|||||||
Industrial Machinery 4.0% | ||||||||
5,868,490 | Elgi Equipments Ltd. (India) |
12,256,223 | ||||||
44,363 | GMM Pfaudler Ltd. (India) |
2,292,936 | ||||||
|
|
|||||||
14,549,159 | ||||||||
|
|
|||||||
Interactive Media & Services 5.4% | ||||||||
302,213 | Info Edge India Ltd. (India) |
19,807,685 | ||||||
|
|
|||||||
Internet & Direct Marketing Retail 1.1% | ||||||||
143,578 | MakeMyTrip Ltd.* (India) |
4,239,858 | ||||||
|
|
|||||||
IT Consulting & Other Services 12.0% | ||||||||
471,914 | Larsen & Toubro Infotech Ltd. (India) |
23,618,466 | ||||||
912,500 | Mindtree Ltd. (India) |
20,668,389 | ||||||
|
|
|||||||
44,286,855 | ||||||||
|
|
|||||||
Life & Health Insurance 0.7% | ||||||||
360,978 | ICICI Prudential Life Insurance Co. Ltd.* (India) |
2,466,216 | ||||||
|
|
|||||||
Life Sciences Tools & Services 6.8% | ||||||||
476,501 | Divis Laboratories Ltd. (India) |
25,029,060 | ||||||
|
|
|||||||
Packaged Foods & Meats 3.7% | ||||||||
279,396 | Britannia Industries Ltd. (India) |
13,660,550 | ||||||
|
|
|||||||
Personal Products 1.1% | ||||||||
28,024 | Procter & Gamble Hygiene & Health Care Ltd. (India) |
4,245,357 | ||||||
|
|
|||||||
Property & Casualty Insurance 4.6% | ||||||||
807,346 | ICICI Lombard General Insurance Co. Ltd.* (India) |
16,834,740 | ||||||
|
|
|||||||
Regional Banks 2.7% | ||||||||
863,737 | AU Small Finance Bank Ltd.* (India) |
10,065,652 | ||||||
|
|
WASATCH EMERGING INDIA FUND (WAINX / WIINX) | DECEMBER 31, 2020 (UNAUDITED) |
Schedule of Investments (continued)
Shares | Value | |||||||
Research & Consulting Services 2.5% | ||||||||
289,750 | L&T Technology Services Ltd. (India) |
$ | 9,275,331 | |||||
|
|
|||||||
Specialty Chemicals 2.4% | ||||||||
232,627 | Asian Paints Ltd. (India) |
8,788,839 | ||||||
|
|
|||||||
Thrifts & Mortgage Finance 3.0% | ||||||||
474,203 | Aavas Financiers Ltd.* (India) |
10,939,751 | ||||||
|
|
|||||||
Total Common Stocks (cost $219,775,722) |
376,861,098 | |||||||
|
|
|||||||
Principal Amount |
Value | |||||||
SHORT-TERM INVESTMENTS 1.8% | ||||||||
Repurchase Agreement 1.8% | ||||||||
$6,618,287 | Repurchase Agreement dated 12/31/20, 0.00% due 1/4/21 with Fixed Income Clearing Corp. collateralized by $6,758,300 of United States Treasury Notes 0.125% due 12/15/23; value: $6,750,751; repurchase proceeds: $6,618,287 (cost $6,618,287) |
$ | 6,618,287 | |||||
|
|
|||||||
Total Short-Term Investments (cost $6,618,287) |
6,618,287 | |||||||
|
|
|||||||
Total Investments (cost $226,394,009) 104.3% |
383,479,385 | |||||||
Liabilities less Other Assets (4.3%) | (15,885,040 | ) | ||||||
|
|
|||||||
NET ASSETS 100.0% |
$ | 367,594,345 | ||||||
|
|
|||||||
*Non-income producing.
See Notes to Schedules of Investments. |
At December 31, 2020, Wasatch Emerging India Funds investments, excluding short-term investments, were in the following countries:
COUNTRY |
% | |||
India |
100.0 | |||
|
|
|||
Total |
100.0 | % | ||
|
|
WASATCH EMERGING MARKETS SELECT FUND (WAESX / WIESX) |
DECEMBER 31, 2020 (UNAUDITED) |
Schedule of Investments
Shares | Value | |||||||
COMMON STOCKS 98.9% | ||||||||
Airport Services 3.4% | ||||||||
248,924 | Grupo Aeroportuario del Pacifico S.A.B. de C.V., Class B* (Mexico) |
$ | 2,777,011 | |||||
|
|
|||||||
Apparel, Accessories & Luxury Goods 3.2% | ||||||||
7,026 | Page Industries Ltd. (India) |
2,652,807 | ||||||
|
|
|||||||
Consumer Finance 7.9% | ||||||||
90,007 | Bajaj Finance Ltd. (India) |
6,513,320 | ||||||
|
|
|||||||
Department Stores 1.8% | ||||||||
160,142 | Trent Ltd. (India) |
1,503,506 | ||||||
|
|
|||||||
Diversified Banks 8.8% | ||||||||
213,219 | HDFC Bank Ltd.* (India) |
4,197,555 | ||||||
557,664 | PT Bank Central Asia Tbk (Indonesia) |
1,344,266 | ||||||
51,572 | TCS Group Holding plc, GDR (Russia) |
1,696,719 | ||||||
|
|
|||||||
7,238,540 | ||||||||
|
|
|||||||
Drug Retail 2.8% | ||||||||
482,930 | Raia Drogasil S.A. (Brazil) |
2,321,481 | ||||||
|
|
|||||||
Electrical Components & Equipment 6.2% | ||||||||
90,939 | Voltronic Power Technology Corp. (Taiwan) |
3,624,873 | ||||||
100,301 | Weg S.A. (Brazil) |
1,464,879 | ||||||
|
|
|||||||
5,089,752 | ||||||||
|
|
|||||||
General Merchandise Stores 2.8% | ||||||||
485,300 | Magazine Luiza S.A. (Brazil) |
2,327,093 | ||||||
|
|
|||||||
Health Care Equipment 0.2% | ||||||||
35,795 | Microport Scientific Corp. (China) |
193,694 | ||||||
|
|
|||||||
Health Care Technology 0.8% | ||||||||
51,900 | Ping An Healthcare & Technology Co. Ltd.* (China) |
629,298 | ||||||
|
|
|||||||
Industrial Machinery 2.4% | ||||||||
136,500 | Techtronic Industries Co. Ltd. (Hong Kong) |
1,947,371 | ||||||
|
|
|||||||
Interactive Home Entertainment 4.5% | ||||||||
18,484 | Sea Ltd., ADR* (Singapore) |
3,679,240 | ||||||
|
|
|||||||
Interactive Media & Services 1.6% | ||||||||
17,900 | Tencent Holdings Ltd. (China) |
1,302,246 | ||||||
|
|
|||||||
Internet & Direct Marketing Retail 9.8% | ||||||||
23,317 | MakeMyTrip Ltd.* (India) |
688,551 | ||||||
34,200 | Meituan, Class B* (China) |
1,299,630 | ||||||
2,827 | MercadoLibre, Inc.* |
4,735,847 | ||||||
39,715 | Trip.com Group Ltd., ADR* (China) |
1,339,587 | ||||||
|
|
|||||||
8,063,615 | ||||||||
|
|
|||||||
Internet & Direct Marketing Retail 1.4% | ||||||||
38,188 | Alibaba Group Holding Ltd.* (China) |
1,145,771 | ||||||
|
|
|||||||
IT Consulting & Other Services 7.5% | ||||||||
11,986 | Globant S.A.* (Argentina) |
2,608,273 | ||||||
71,838 | Larsen & Toubro Infotech Ltd. (India) |
3,595,366 | ||||||
|
|
|||||||
6,203,639 | ||||||||
|
|
|||||||
Life & Health Insurance 2.9% | ||||||||
231,631 | Discovery Ltd. (South Africa) |
2,420,185 | ||||||
|
|
|||||||
Life Sciences Tools & Services 3.7% | ||||||||
229,500 | Wuxi Biologics Cayman, Inc.* (China) |
3,043,244 | ||||||
|
|
WASATCH EMERGING MARKETS SELECT FUND (WAESX / WIESX) |
DECEMBER 31, 2020 (UNAUDITED) |
Schedule of Investments (continued)
Shares | Value | |||||||
Managed Health Care 1.3% | ||||||||
375,500 | Hapvida Participacoes e Investimentos S.A. (Brazil) |
$ | 1,107,821 | |||||
|
|
|||||||
Packaged Foods & Meats 3.4% | ||||||||
23,442 | Britannia Industries Ltd. (India) |
1,146,153 | ||||||
427,393 | Vitasoy International Holdings Ltd. (Hong Kong) |
1,664,928 | ||||||
|
|
|||||||
2,811,081 | ||||||||
|
|
|||||||
Personal Products 1.1% | ||||||||
582 | LG Household & Health Care Ltd. (South Korea) |
868,649 | ||||||
|
|
|||||||
Pharmaceuticals 1.7% | ||||||||
82,140 | Jiangsu Hengrui Medicine Co. Ltd., Class A (China) |
1,399,940 | ||||||
|
|
|||||||
Property & Casualty Insurance 3.7% | ||||||||
81,126 | ICICI Lombard General Insurance Co. Ltd.* (India) |
1,691,635 | ||||||
248,586 | Qualitas Controladora S.A.B. de C.V. (Mexico) |
1,335,278 | ||||||
|
|
|||||||
3,026,913 | ||||||||
|
|
|||||||
Regional Banks 1.9% | ||||||||
133,641 | AU Small Finance Bank Ltd.* (India) |
1,557,400 | ||||||
|
|
|||||||
Semiconductor Equipment 1.3% | ||||||||
9,500 | Lasertec Corp. (Japan) |
1,115,042 | ||||||
|
|
|||||||
Semiconductors 7.2% | ||||||||
27,297 | ASPEED Technology, Inc. (Taiwan) |
1,666,110 | ||||||
49,959 | Silergy Corp. (Taiwan) |
4,285,045 | ||||||
|
|
|||||||
5,951,155 | ||||||||
|
|
|||||||
Specialized Finance 2.5% | ||||||||
342,403 | Chailease Holding Co. Ltd. (Taiwan) |
2,047,253 | ||||||
|
|
|||||||
Specialty Chemicals 2.1% | ||||||||
46,947 | Asian Paints Ltd. (India) |
1,773,696 | ||||||
|
|
|||||||
Thrifts & Mortgage Finance 1.0% | ||||||||
34,199 | Aavas Financiers Ltd.* (India) |
788,963 | ||||||
|
|
|||||||
Total Common Stocks (cost $44,870,466) |
81,499,726 | |||||||
|
|
|||||||
PREFERRED STOCKS 1.2% | ||||||||
Diversified Banks 1.2% | ||||||||
95,732 | Banco Davivienda S.A., 2.54% (Colombia) |
1,023,810 | ||||||
|
|
|||||||
Total Preferred Stocks (cost $904,736) |
1,023,810 | |||||||
|
|
|||||||
Principal Amount |
Value | |||||||
SHORT-TERM INVESTMENTS 1.9% | ||||||||
Repurchase Agreement 1.9% | ||||||||
$1,549,709 | Repurchase Agreement dated 12/31/20, 0.00% due 1/4/21 with Fixed Income Clearing Corp. collateralized by $1,580,300 of United States Treasury Notes 0.375% due 12/31/25; value: $1,580,793; repurchase proceeds: $1,549,709 (cost $1,549,709) |
$ | 1,549,709 | |||||
|
|
|||||||
Total Short-Term Investments (cost $1,549,709) |
1,549,709 | |||||||
|
|
|||||||
Total Investments (cost $47,324,911) 102.0%§ |
84,073,245 | |||||||
Liabilities less Other Assets (2.0%) | (1,641,836 | ) | ||||||
|
|
|||||||
NET ASSETS 100.0% | $ | 82,431,409 | ||||||
|
|
WASATCH EMERGING MARKETS SELECT FUND (WAESX / WIESX) |
DECEMBER 31, 2020 (UNAUDITED) |
Schedule of Investments (continued)
*Non-income producing.
§The aggregate amount of foreign securities fair valued pursuant to a systematic valuation model as a percent of net assets was 14.04%.
ADR American Depositary Receipt.
GDR Global Depositary Receipt.
See Notes to Schedules of Investments. |
At December 31, 2020, Wasatch Emerging Markets Select Funds investments, excluding short-term investments, were in the following countries:
COUNTRY |
% | |||
Argentina |
3.2 | |||
Brazil |
8.7 | |||
China |
12.5 | |||
Colombia |
1.2 | |||
Hong Kong |
4.4 | |||
India |
31.6 | |||
Indonesia |
1.6 | |||
Japan |
1.4 | |||
Mexico |
5.0 | |||
Russia |
2.1 | |||
Singapore |
4.5 | |||
South Africa |
2.9 | |||
South Korea |
1.1 | |||
Taiwan |
14.1 | |||
United States |
5.7 | |||
|
|
|||
Total |
100.0 | % | ||
|
|
WASATCH EMERGING MARKETS SMALL CAP FUND (WAEMX / WIEMX) |
DECEMBER 31, 2020 (UNAUDITED) |
Schedule of Investments
Shares | Value | |||||||
COMMON STOCKS 98.7% | ||||||||
Airport Services 2.4% | ||||||||
1,734,425 | Grupo Aeroportuario del Centro Norte S.A.B. de C.V.* (Mexico) |
$ | 11,188,630 | |||||
|
|
|||||||
Application Software 0.8% | ||||||||
92,631 | Agora, Inc., ADR* (China) |
3,664,482 | ||||||
|
|
|||||||
Commodity Chemicals 2.7% | ||||||||
1,197,391 | Berger Paints India Ltd. (India) |
12,421,697 | ||||||
|
|
|||||||
Communications Equipment 1.3% | ||||||||
518,000 | Accton Technology Corp. (Taiwan) |
5,825,610 | ||||||
|
|
|||||||
Consumer Finance 8.3% | ||||||||
265,148 | Bajaj Finance Ltd. (India) |
19,187,328 | ||||||
2,110,475 | Muangthai Capital Public Co. Ltd.* (Thailand) |
4,156,142 | ||||||
2,414,829 | Srisawad Corp. Public Co. Ltd. * (Thailand) |
5,299,566 | ||||||
6,671,723 | Unifin Financiera S.A.B. de C.V. * (Mexico) |
9,219,950 | ||||||
|
|
|||||||
37,862,986 | ||||||||
|
|
|||||||
Data Processing & Outsourced Services 1.3% | ||||||||
2,848,758 | Fawry for Banking & Payment Technology Services S.A.E.* (Egypt) |
6,094,133 | ||||||
|
|
|||||||
Department Stores 2.9% | ||||||||
215,946 | Poya International Co. Ltd. (Taiwan) |
4,426,824 | ||||||
960,506 | Trent Ltd. (India) |
9,017,786 | ||||||
|
|
|||||||
13,444,610 | ||||||||
|
|
|||||||
Diversified Banks 1.9% | ||||||||
259,390 | TCS Group Holding plc, GDR (Russia) |
8,533,931 | ||||||
|
|
|||||||
Drug Retail 4.0% | ||||||||
282,185 | Clicks Group Ltd. (South Africa) |
4,851,969 | ||||||
2,795,550 | Raia Drogasil S.A. (Brazil) |
13,438,420 | ||||||
|
|
|||||||
18,290,389 | ||||||||
|
|
|||||||
Electrical Components & Equipment 5.2% | ||||||||
602,388 | Voltronic Power Technology Corp. (Taiwan) |
24,011,480 | ||||||
|
|
|||||||
Electronic Equipment & Instruments 1.4% | ||||||||
1,096,616 | Chroma ATE, Inc. (Taiwan) |
6,556,747 | ||||||
|
|
|||||||
Electronic Manufacturing Services 1.6% | ||||||||
92,851 | Fabrinet* |
7,204,309 | ||||||
|
|
|||||||
General Merchandise Stores 4.6% | ||||||||
4,375,464 | Magazine Luiza S.A. (Brazil) |
20,981,063 | ||||||
|
|
|||||||
Health Care Equipment 2.1% | ||||||||
2,084,000 | AK Medical Holdings Ltd. (China) |
3,618,293 | ||||||
1,118,354 | Microport Scientific Corp. (China) |
6,051,629 | ||||||
|
|
|||||||
9,669,922 | ||||||||
|
|
|||||||
Health Care Facilities 1.1% | ||||||||
16,606,200 | Cleopatra Hospital* (Egypt) |
4,898,460 | ||||||
|
|
|||||||
Health Care Services 2.6% | ||||||||
384,446 | Dr. Lal PathLabs Ltd. (India) |
12,112,016 | ||||||
|
|
|||||||
Health Care Supplies 0.8% | ||||||||
658,666 | Shanghai Kindly Medical Instruments Co. Ltd., Class H (China) |
3,487,703 | ||||||
|
|
|||||||
Home Improvement Retail 1.1% | ||||||||
41,666,224 | PT Ace Hardware Indonesia Tbk (Indonesia) |
5,092,586 | ||||||
|
|
WASATCH EMERGING MARKETS SMALL CAP FUND (WAEMX / WIEMX) |
DECEMBER 31, 2020 (UNAUDITED) |
Schedule of Investments (continued)
Shares | Value | |||||||
Hotels, Resorts & Cruise Lines 1.4% | ||||||||
139,457 | Huazhu Group Ltd.* (China) |
$ | 6,224,113 | |||||
|
|
|||||||
Human Resource & Employment Services 1.3% | ||||||||
189,249 | HeadHunter Group plc, ADR (Russia) |
5,724,782 | ||||||
|
|
|||||||
Industrial Conglomerates 1.2% | ||||||||
19,676 | 3M India Ltd.* (India) |
5,614,045 | ||||||
|
|
|||||||
Insurance Brokers 1.7% | ||||||||
1,773,285 | TQM Corp. Public Co. Ltd. (Thailand) |
7,960,842 | ||||||
|
|
|||||||
Interactive Media & Services 2.5% | ||||||||
172,867 | Info Edge India Ltd. (India) |
11,330,072 | ||||||
|
|
|||||||
Internet & Direct Marketing Retail 2.3% | ||||||||
183,648 | MakeMyTrip Ltd.* (India) |
5,423,125 | ||||||
225,000 | momo.com, Inc. (Taiwan) |
5,100,897 | ||||||
|
|
|||||||
10,524,022 | ||||||||
|
|
|||||||
IT Consulting & Other Services 10.7% | ||||||||
95,972 | Globant S.A.* (Argentina) |
20,884,467 | ||||||
335,075 | Larsen & Toubro Infotech Ltd. (India) |
16,769,915 | ||||||
509,496 | Mindtree Ltd. (India) |
11,540,232 | ||||||
|
|
|||||||
49,194,614 | ||||||||
|
|
|||||||
Packaged Foods & Meats 3.7% | ||||||||
135,161 | Britannia Industries Ltd. (India) |
6,608,447 | ||||||
2,687,755 | Vitasoy International Holdings Ltd. (Hong Kong) |
10,470,264 | ||||||
|
|
|||||||
17,078,711 | ||||||||
|
|
|||||||
Pharmaceuticals 0.0% | ||||||||
13,017,213 | China Animal Healthcare Ltd.* *** §§ (China) |
16,791 | ||||||
|
|
|||||||
Property & Casualty Insurance 5.0% | ||||||||
631,929 | ICICI Lombard General Insurance Co. Ltd.* (India) |
13,176,953 | ||||||
1,819,584 | Qualitas Controladora S.A.B. de C.V. (Mexico) |
9,773,881 | ||||||
|
|
|||||||
22,950,834 | ||||||||
|
|
|||||||
Regional Banks 6.2% | ||||||||
1,127,181 | AU Small Finance Bank Ltd.* (India) |
13,135,726 | ||||||
34,167,900 | PT Bank BTPN Syariah Tbk (Indonesia) |
9,126,368 | ||||||
1,282,362 | Regional S.A.B. de C.V.* (Mexico) |
5,931,234 | ||||||
|
|
|||||||
28,193,328 | ||||||||
|
|
|||||||
Research & Consulting Services 0.7% | ||||||||
96,140 | L&T Technology Services Ltd. (India) |
3,077,585 | ||||||
|
|
|||||||
Semiconductors 13.4% | ||||||||
174,374 | ASPEED Technology, Inc. (Taiwan) |
10,643,156 | ||||||
91,933 | LEENO Industrial, Inc. (South Korea) |
11,433,182 | ||||||
174,735 | Parade Technologies Ltd. (Taiwan) |
6,902,835 | ||||||
320,143 | Silergy Corp. (Taiwan) |
27,459,059 | ||||||
408,000 | Win Semiconductors Corp. (Taiwan) |
5,024,130 | ||||||
|
|
|||||||
61,462,362 | ||||||||
|
|
|||||||
Systems Software 1.5% | ||||||||
72,533 | Douzone Bizon Co. Ltd.* (South Korea) |
6,949,408 | ||||||
|
|
|||||||
Thrifts & Mortgage Finance 1.0% | ||||||||
195,327 | Aavas Financiers Ltd.* (India) |
4,506,148 | ||||||
|
|
|||||||
Total Common Stocks (cost $226,518,447) |
452,148,411 | |||||||
|
|
WASATCH EMERGING MARKETS SMALL CAP FUND (WAEMX / WIEMX) |
DECEMBER 31, 2020 (UNAUDITED) |
Schedule of Investments (continued)
Shares | Value | |||||||
PREFERRED STOCKS 1.6% | ||||||||
Personal Products 1.6% | ||||||||
10,702 | LG Household & Health Care Ltd. (South Korea) |
$ | 7,079,506 | |||||
|
|
|||||||
Total Preferred Stocks (cost $5,002,853) |
7,079,506 | |||||||
|
|
|||||||
WARRANTS 0.0% | ||||||||
Consumer Finance 0.0% | ||||||||
96,593 | Srisawad Corp. Public Co. Ltd., 08/29/2025* (Thailand) |
32,563 | ||||||
|
|
|||||||
Total Warrants (cost $0) |
32,563 | |||||||
|
|
|||||||
Principal Amount |
Value | |||||||
SHORT-TERM INVESTMENTS 0.8% | ||||||||
Repurchase Agreement 0.8% | ||||||||
$3,686,067 | Repurchase Agreement dated 12/31/20, 0.00% due 1/4/21 with Fixed Income Clearing Corp. collateralized by $3,764,000 of United States Treasury Notes 0.125% due 12/15/23; value: $3,759,795; repurchase proceeds: $3,686,067 (cost $3,686,067) |
$ | 3,686,067 | |||||
|
|
|||||||
Total Short-Term Investments (cost $3,686,067) |
3,686,067 | |||||||
|
|
|||||||
Total Investments (cost $235,207,367) 101.1%§ |
462,946,547 | |||||||
Liabilities less Other Assets (1.1%) | (4,915,121 | ) | ||||||
|
|
|||||||
NET ASSETS 100.0% | $ | 458,031,426 | ||||||
|
|
|||||||
*Non-income producing.
***Security was fair valued under procedures adopted by the Board of Trustees (see Note 8).
§§The aggregate value of illiquid holdings at December 31, 2020, amounts to approximately $16,791, and represents 0.00% of net assets.
§The aggregate amount of foreign securities fair valued pursuant to a systematic valuation model as a percent of net assets was 16.18%.
ADR American Depositary Receipt.
GDR Global Depositary Receipt.
See Notes to Schedules of Investments. |
At December 31, 2020, Wasatch Emerging Markets Small Cap Funds investments, excluding short-term investments, were in the following countries:
COUNTRY |
% | |||
Argentina |
4.5 | |||
Brazil |
7.5 | |||
China |
5.0 | |||
Egypt |
2.4 | |||
Hong Kong |
2.3 | |||
India |
31.3 | |||
Indonesia |
3.1 | |||
Mexico |
7.9 | |||
Russia |
3.1 | |||
South Africa |
1.1 | |||
South Korea |
5.5 | |||
Taiwan |
20.9 | |||
Thailand |
3.8 | |||
United States |
1.6 | |||
|
|
|||
Total |
100.0 | % | ||
|
|
WASATCH FRONTIER EMERGING SMALL COUNTRIES FUND (WAFMX / WIFMX) |
DECEMBER 31, 2020 (UNAUDITED) |
Schedule of Investments
Shares | Value | |||||||
COMMON STOCKS 95.8% | ||||||||
Airport Services 2.3% | ||||||||
224,500 | Grupo Aeroportuario del Centro Norte S.A.B. de C.V.* (Mexico) |
$ | 1,448,231 | |||||
|
|
|||||||
Asset Management & Custody Banks 4.4% | ||||||||
5,829,693 | VEF Ltd.* (Sweden) |
2,835,987 | ||||||
|
|
|||||||
Brewers 0.2% | ||||||||
16,630 | Saigon Beer Alcohol Beverage Corp. (Vietnam) |
140,490 | ||||||
|
|
|||||||
Consumer Finance 13.1% | ||||||||
289,466 | ASA International Group plc* (United Kingdom) |
928,257 | ||||||
57,572 | Bajaj Finance Ltd. (India) |
4,166,174 | ||||||
189,600 | Muangthai Capital Public Co. Ltd.* (Thailand) |
373,378 | ||||||
419,500 | Srisawad Corp. Public Co. Ltd. * (Thailand) |
920,632 | ||||||
1,475,116 | Unifin Financiera S.A.B. de C.V. * (Mexico) |
2,038,528 | ||||||
|
|
|||||||
8,426,969 | ||||||||
|
|
|||||||
Data Processing & Outsourced Services 3.3% | ||||||||
987,858 | Fawry for Banking & Payment Technology Services S.A.E.* (Egypt) |
2,113,250 | ||||||
|
|
|||||||
Diversified Banks 11.2% | ||||||||
560,000 | Bank for Foreign Trade of Vietnam JSC (Vietnam) |
2,375,133 | ||||||
2,030 | Credicorp Ltd. (Peru) |
332,960 | ||||||
825,600 | PT Bank Central Asia Tbk (Indonesia) |
1,990,133 | ||||||
76,321 | TCS Group Holding plc, GDR (Russia) |
2,510,961 | ||||||
|
|
|||||||
7,209,187 | ||||||||
|
|
|||||||
Drug Retail 2.8% | ||||||||
380,600 | Raia Drogasil S.A. (Brazil) |
1,829,573 | ||||||
|
|
|||||||
Electrical Components & Equipment 1.5% | ||||||||
67,300 | Weg S.A. (Brazil) |
982,905 | ||||||
|
|
|||||||
Food Retail 3.5% | ||||||||
405,200 | CP ALL Public Co. Ltd.* (Thailand) |
787,814 | ||||||
6,117 | Dino Polska S.A.* (Poland) |
474,395 | ||||||
395,444 | Philippine Seven Corp. (Philippines) |
986,479 | ||||||
|
|
|||||||
2,248,688 | ||||||||
|
|
|||||||
General Merchandise Stores 3.1% | ||||||||
411,000 | Magazine Luiza S.A. (Brazil) |
1,970,812 | ||||||
|
|
|||||||
Health Care Facilities 2.4% | ||||||||
5,242,570 | Cleopatra Hospital* (Egypt) |
1,546,441 | ||||||
|
|
|||||||
Home Improvement Retail 1.2% | ||||||||
2,160,000 | Wilcon Depot, Inc. (Philippines) |
761,762 | ||||||
|
|
|||||||
Human Resource & Employment Services 1.2% | ||||||||
25,068 | HeadHunter Group plc, ADR (Russia) |
758,307 | ||||||
|
|
|||||||
Hypermarkets & Super Centers 0.5% | ||||||||
7,445 | InRetail Peru Corp. (Peru) |
291,844 | ||||||
|
|
|||||||
Insurance Brokers 3.1% | ||||||||
441,488 | TQM Corp. Public Co. Ltd. (Thailand) |
1,981,981 | ||||||
|
|
|||||||
Interactive Home Entertainment 7.5% | ||||||||
24,390 | Sea Ltd., ADR* (Singapore) |
4,854,829 | ||||||
|
|
|||||||
Internet & Direct Marketing Retail 12.4% | ||||||||
2,832 | MercadoLibre, Inc.* |
4,744,223 | ||||||
8,545 | Naspers Ltd., Class N (South Africa) |
1,755,723 |
WASATCH FRONTIER EMERGING SMALL COUNTRIES FUND (WAFMX / WIFMX) |
DECEMBER 31, 2020 (UNAUDITED) |
Schedule of Investments (continued)
Shares | Value | |||||||
13,849 | Prosus N.V.* (Netherlands) |
$ | 1,494,930 | |||||
|
|
|||||||
7,994,876 | ||||||||
|
|
|||||||
IT Consulting & Other Services 5.7% | ||||||||
770,534 | FPT Corp. (Vietnam) |
1,972,861 | ||||||
7,844 | Globant S.A.* (Argentina) |
1,706,933 | ||||||
|
|
|||||||
3,679,794 | ||||||||
|
|
|||||||
Life & Health Insurance 3.0% | ||||||||
186,856 | Discovery Ltd. (South Africa) |
1,952,356 | ||||||
|
|
|||||||
Property & Casualty Insurance 4.7% | ||||||||
558,328 | Qualitas Controladora S.A.B. de C.V. (Mexico) |
2,999,054 | ||||||
|
|
|||||||
Regional Banks 6.3% | ||||||||
176,252 | AU Small Finance Bank Ltd.* (India) |
2,053,972 | ||||||
3,281,100 | PT Bank BTPN Syariah Tbk (Indonesia) |
876,393 | ||||||
247,600 | Regional S.A.B. de C.V.* (Mexico) |
1,145,210 | ||||||
|
|
|||||||
4,075,575 | ||||||||
|
|
|||||||
Wireless Telecommunication Services 2.4% | ||||||||
4,919,838 | Safaricom plc (Kenya) |
1,538,576 | ||||||
|
|
|||||||
Total Common Stocks (cost $42,187,887) |
61,641,487 | |||||||
|
|
|||||||
PREFERRED STOCKS 4.1% | ||||||||
Diversified Banks 4.1% | ||||||||
248,535 | Banco Davivienda S.A., 2.54% (Colombia) |
2,657,968 | ||||||
|
|
|||||||
Total Preferred Stocks (cost $2,623,051) |
2,657,968 | |||||||
|
|
|||||||
WARRANTS 0.0% | ||||||||
Consumer Finance 0.0% | ||||||||
16,780 | Srisawad Corp. Public Co. Ltd., 8/29/2025* (Thailand) |
5,657 | ||||||
|
|
|||||||
Total Warrants (cost $0) |
5,657 | |||||||
|
|
|||||||
Principal Amount |
Value | |||||||
SHORT-TERM INVESTMENTS 1.4% | ||||||||
Repurchase Agreement 1.4% | ||||||||
$874,623 | Repurchase Agreement dated 12/31/20, 0.00% due 1/4/21 with Fixed Income Clearing Corp. collateralized by $893,200 of United States Treasury Notes 0.125% due 12/15/23; value: $892,202; repurchase proceeds: $874,623 (cost $874,623) |
$ | 874,623 | |||||
|
|
|||||||
Total Short-Term Investments (cost $874,623) |
874,623 | |||||||
|
|
|||||||
Total Investments (cost $45,685,561) 101.3%§ |
65,179,735 | |||||||
Liabilities less Other Assets (1.3%) | (833,182 | ) | ||||||
|
|
|||||||
NET ASSETS 100.0% | $ | 64,346,553 | ||||||
|
|
WASATCH FRONTIER EMERGING SMALL COUNTRIES FUND (WAFMX / WIFMX) |
DECEMBER 31, 2020 (UNAUDITED) |
Schedule of Investments (continued)
*Non-income producing.
§The aggregate amount of foreign securities fair valued pursuant to a systematic valuation model as a percent of net assets was 22.35%.
ADR American Depositary Receipt.
GDR Global Depositary Receipt.
See Notes to Schedules of Investments. |
At December 31, 2020, Wasatch Frontier Emerging Small Countries Funds investments, excluding short-term investments, were in the following countries:
COUNTRY |
% | |||
Argentina |
2.7 | |||
Brazil |
7.4 | |||
Colombia |
4.1 | |||
Egypt |
5.7 | |||
India |
9.7 | |||
Indonesia |
4.5 | |||
Kenya |
2.4 | |||
Mexico |
11.9 | |||
Netherlands |
2.3 | |||
Peru |
1.0 | |||
Philippines |
2.7 | |||
Poland |
0.7 | |||
Russia |
5.1 | |||
Singapore |
7.5 | |||
South Africa |
5.8 | |||
Sweden |
4.4 | |||
Thailand |
6.3 | |||
United Kingdom |
1.4 | |||
United States |
7.4 | |||
Vietnam |
7.0 | |||
|
|
|||
Total |
100.0 | % | ||
|
|
WASATCH GLOBAL OPPORTUNITIES FUND (WAGOX / WIGOX) |
DECEMBER 31, 2020 (UNAUDITED) |
Schedule of Investments
Shares | Value | |||||||
COMMON STOCKS 98.5% | ||||||||
Airlines 1.0% | ||||||||
10,185 | Allegiant Travel Co. |
$ | 1,927,409 | |||||
|
|
|||||||
Application Software 12.5% | ||||||||
25,745 | Five9, Inc.* |
4,489,928 | ||||||
10,535 | HubSpot, Inc.* |
4,176,496 | ||||||
64,483 | Medallia, Inc.* |
2,142,125 | ||||||
17,197 | Paylocity Holding Corp.* |
3,541,034 | ||||||
15,725 | Q2 Holdings, Inc.* |
1,989,684 | ||||||
133,018 | Systena Corp. (Japan) |
2,792,983 | ||||||
143,111 | Technology One Ltd. (Australia) |
904,718 | ||||||
23,306 | Zendesk, Inc.* |
3,335,555 | ||||||
|
|
|||||||
23,372,523 | ||||||||
|
|
|||||||
Automotive Retail 1.0% | ||||||||
34,954 | Monro, Inc. |
1,863,048 | ||||||
|
|
|||||||
Biotechnology 2.9% | ||||||||
136,742 | Abcam plc (United Kingdom) |
2,898,419 | ||||||
46,314 | Esperion Therapeutics, Inc.* |
1,204,164 | ||||||
83,399 | Sangamo Therapeutics, Inc.* |
1,301,442 | ||||||
|
|
|||||||
5,404,025 | ||||||||
|
|
|||||||
Building Products 2.3% | ||||||||
52,579 | Trex Co., Inc.* |
4,401,914 | ||||||
|
|
|||||||
Commodity Chemicals 1.0% | ||||||||
77,767 | Valvoline, Inc. |
1,799,528 | ||||||
|
|
|||||||
Consumer Finance 3.8% | ||||||||
47,701 | Bajaj Finance Ltd. (India) |
3,451,863 | ||||||
747,808 | Srisawad Corp. Public Co. Ltd.* (Thailand) |
1,641,134 | ||||||
1,450,700 | Unifin Financiera S.A.B. de C.V.* (Mexico) |
2,004,787 | ||||||
|
|
|||||||
7,097,784 | ||||||||
|
|
|||||||
Data Processing & Outsourced Services 3.1% | ||||||||
22,356 | Euronet Worldwide, Inc.* |
3,239,832 | ||||||
10,800 | GMO Payment Gateway, Inc. (Japan) |
1,451,340 | ||||||
109,530 | Infomart Corp. (Japan) |
1,046,038 | ||||||
|
|
|||||||
5,737,210 | ||||||||
|
|
|||||||
Diversified Real Estate Activities 1.8% | ||||||||
102,720 | Patrizia AG (Germany) |
3,299,759 | ||||||
|
|
|||||||
Diversified Support Services 1.5% | ||||||||
22,084 | Copart, Inc.* |
2,810,189 | ||||||
|
|
|||||||
Drug Retail 1.9% | ||||||||
23,123 | Ain Holdings, Inc. (Japan) |
1,428,544 | ||||||
31,900 | Sugi Holdings Co. Ltd. (Japan) |
2,130,885 | ||||||
|
|
|||||||
3,559,429 | ||||||||
|
|
|||||||
Electrical Components & Equipment 2.1% | ||||||||
96,896 | Voltronic Power Technology Corp. (Taiwan) |
3,862,322 | ||||||
|
|
|||||||
Financial Exchanges & Data 1.7% | ||||||||
89,505 | Open Lending Corp., Class A* |
3,129,095 | ||||||
|
|
|||||||
General Merchandise Stores 1.1% | ||||||||
25,220 | Ollies Bargain Outlet Holdings, Inc.* |
2,062,239 | ||||||
|
|
|||||||
Health Care Equipment 0.2% | ||||||||
2,670 | Cochlear Ltd. (Australia) |
389,044 | ||||||
|
|
WASATCH GLOBAL OPPORTUNITIES FUND (WAGOX / WIGOX) |
DECEMBER 31, 2020 (UNAUDITED) |
Schedule of Investments (continued)
Shares | Value | |||||||
Health Care Facilities 3.1% | ||||||||
51,411 | Ensign Group, Inc. (The) |
$ | 3,748,890 | |||||
36,785 | Pennant Group, Inc. (The)* |
2,135,737 | ||||||
|
|
|||||||
5,884,627 | ||||||||
|
|
|||||||
Health Care Services 0.9% | ||||||||
56,573 | Dr. Lal PathLabs Ltd. (India) |
1,782,339 | ||||||
|
|
|||||||
Health Care Supplies 0.8% | ||||||||
43,600 | Asahi Intecc Co. Ltd. (Japan) |
1,592,503 | ||||||
|
|
|||||||
Health Care Technology 1.6% | ||||||||
51,818 | JMDC, Inc.* (Japan) |
2,942,155 | ||||||
|
|
|||||||
Home Improvement Retail 0.8% | ||||||||
16,641 | Floor & Decor Holdings, Inc., Class A* |
1,545,117 | ||||||
|
|
|||||||
Homebuilding 1.4% | ||||||||
24,421 | LGI Homes, Inc.* |
2,584,963 | ||||||
|
|
|||||||
Industrial Conglomerates 0.6% | ||||||||
3,832 | 3M India Ltd.* (India) |
1,093,364 | ||||||
|
|
|||||||
Industrial Machinery 7.2% | ||||||||
34,470 | Altra Industrial Motion Corp. |
1,910,672 | ||||||
29,139 | Helios Technologies, Inc. |
1,552,817 | ||||||
65,457 | Kornit Digital Ltd.* (Israel) |
5,834,183 | ||||||
59,400 | MISUMI Group, Inc. (Japan) |
1,949,942 | ||||||
12,482 | RBC Bearings, Inc.* |
2,234,777 | ||||||
|
|
|||||||
13,482,391 | ||||||||
|
|
|||||||
Internet & Direct Marketing Retail 4.3% | ||||||||
48,109 | MakeMyTrip Ltd.* (India) |
1,420,659 | ||||||
3,952 | MercadoLibre, Inc.* |
6,620,469 | ||||||
|
|
|||||||
8,041,128 | ||||||||
|
|
|||||||
IT Consulting & Other Services 5.8% | ||||||||
19,508 | Endava plc, ADR* (United Kingdom) |
1,497,239 | ||||||
23,393 | Globant S.A.* (Argentina) |
5,090,551 | ||||||
188,916 | Mindtree Ltd. (India) |
4,279,002 | ||||||
|
|
|||||||
10,866,792 | ||||||||
|
|
|||||||
Life Sciences Tools & Services 1.0% | ||||||||
13,406 | Medpace Holdings, Inc.* |
1,866,115 | ||||||
|
|
|||||||
Managed Health Care 1.6% | ||||||||
42,290 | HealthEquity, Inc.* |
2,948,036 | ||||||
|
|
|||||||
Other Diversified Financial Services 0.7% | ||||||||
1,997 | Hypoport SE* (Germany) |
1,269,050 | ||||||
|
|
|||||||
Packaged Foods & Meats 3.6% | ||||||||
25,541 | Freshpet, Inc.* |
3,626,567 | ||||||
782,000 | Vitasoy International Holdings Ltd. (Hong Kong) |
3,046,314 | ||||||
|
|
|||||||
6,672,881 | ||||||||
|
|
|||||||
Pharmaceuticals 1.2% | ||||||||
69,100 | Intra-Cellular Therapies, Inc.* |
2,197,380 | ||||||
|
|
|||||||
Property & Casualty Insurance 1.5% | ||||||||
136,141 | ICICI Lombard General Insurance Co. Ltd.* (India) |
2,838,805 | ||||||
|
|
|||||||
Regional Banks 3.0% | ||||||||
364,704 | AU Small Finance Bank Ltd.* (India) |
4,250,117 |
WASATCH GLOBAL OPPORTUNITIES FUND (WAGOX / WIGOX) |
DECEMBER 31, 2020 (UNAUDITED) |
Schedule of Investments (continued)
Shares | Value | |||||||
34,025 | Eagle Bancorp, Inc. |
$ | 1,405,233 | |||||
|
|
|||||||
5,655,350 | ||||||||
|
|
|||||||
Research & Consulting Services 1.2% | ||||||||
35,000 | Nihon M&A Center, Inc. (Japan) |
2,340,563 | ||||||
|
|
|||||||
Restaurants 0.8% | ||||||||
23,051 | Dominos Pizza Enterprises Ltd. (Australia) |
1,540,405 | ||||||
|
|
|||||||
Semiconductor Equipment 1.3% | ||||||||
33,591 | Nova Measuring Instruments Ltd.* (Israel) |
2,371,525 | ||||||
|
|
|||||||
Semiconductors 7.9% | ||||||||
45,000 | ASPEED Technology, Inc. (Taiwan) |
2,746,637 | ||||||
21,545 | Melexis N.V. (Belgium) |
2,103,004 | ||||||
10,112 | Monolithic Power Systems, Inc. |
3,703,318 | ||||||
72,000 | Silergy Corp. (Taiwan) |
6,175,528 | ||||||
|
|
|||||||
14,728,487 | ||||||||
|
|
|||||||
Soft Drinks 1.2% | ||||||||
63,472 | Fevertree Drinks plc (United Kingdom) |
2,193,386 | ||||||
|
|
|||||||
Specialty Stores 1.4% | ||||||||
14,926 | Five Below, Inc.* |
2,611,751 | ||||||
|
|
|||||||
Systems Software 3.0% | ||||||||
19,486 | CyberArk Software Ltd.* (Israel) |
3,148,743 | ||||||
27,675 | Rapid7, Inc.* |
2,495,178 | ||||||
|
|
|||||||
5,643,921 | ||||||||
|
|
|||||||
Thrifts & Mortgage Finance 1.0% | ||||||||
81,932 | Aavas Financiers Ltd.* (India) |
1,890,152 | ||||||
|
|
|||||||
Trading Companies & Distributors 3.7% | ||||||||
87,767 | Diploma plc (United Kingdom) |
2,630,870 | ||||||
208,166 | Electrocomponents plc (United Kingdom) |
2,478,028 | ||||||
37,700 | MonotaRO Co. Ltd. (Japan) |
1,914,738 | ||||||
|
|
|||||||
7,023,636 | ||||||||
|
|
|||||||
Total Common Stocks (cost $93,100,198) |
184,322,340 | |||||||
|
|
|||||||
WARRANTS 0.0% | ||||||||
Consumer Finance 0.0% | ||||||||
30,336 | Srisawad Corp. Public Co. Ltd., 8/29/2025* (Thailand) |
10,227 | ||||||
|
|
|||||||
Total Warrants (cost $0) |
10,227 | |||||||
|
|
|||||||
Principal Amount |
Value | |||||||
SHORT-TERM INVESTMENTS 1.4% | ||||||||
Repurchase Agreement 1.4% | ||||||||
$2,604,753 | Repurchase Agreement dated 12/31/20, 0.00% due 1/4/21 with Fixed Income Clearing Corp. collateralized by $2,659,900 of United States Treasury Notes 0.125% due 12/15/23; value: $2,656,929; repurchase proceeds: $2,604,753 (cost $2,604,753) |
$ | 2,604,753 | |||||
|
|
|||||||
Total Short-Term Investments (cost $2,604,753) |
2,604,753 | |||||||
|
|
|||||||
Total Investments (cost $95,704,951) 99.9%§ |
186,937,320 | |||||||
Other Assets less Liabilities 0.1% | 115,801 | |||||||
|
|
|||||||
NET ASSETS 100.0% | $ | 187,053,121 | ||||||
|
|
WASATCH GLOBAL OPPORTUNITIES FUND (WAGOX / WIGOX) |
DECEMBER 31, 2020 (UNAUDITED) |
Schedule of Investments (continued)
*Non-income producing.
§The aggregate amount of foreign securities fair valued pursuant to a systematic valuation model as a percent of net assets was 12.92%.
ADR American Depositary Receipt.
See Notes to Schedules of Investments. |
At December 31, 2020, Wasatch Global Opportunities Funds investments, excluding short-term investments, were in the following countries:
COUNTRY |
% | |||
Argentina |
2.8 | |||
Australia |
1.5 | |||
Belgium |
1.1 | |||
Germany |
2.5 | |||
Hong Kong |
1.7 | |||
India |
11.4 | |||
Israel |
6.2 | |||
Japan |
10.6 | |||
Mexico |
1.1 | |||
Taiwan |
6.9 | |||
Thailand |
0.9 | |||
United Kingdom |
6.3 | |||
United States |
47.0 | |||
|
|
|||
Total |
100.0 | % | ||
|
|
WASATCH GLOBAL SELECT FUND (WAGSX / WGGSX) | DECEMBER 31, 2020 (UNAUDITED) |
Schedule of Investments
Shares | Value | |||||||
COMMON STOCKS 96.4% | ||||||||
Aerospace & Defense 2.6% | ||||||||
3,759 | HEICO Corp., Class A |
$ | 440,029 | |||||
|
|
|||||||
Application Software 15.8% | ||||||||
2,523 | Dassault Systemes SE (France) |
512,111 | ||||||
1,449 | DocuSign, Inc.* |
322,113 | ||||||
2,740 | Guidewire Software, Inc.* |
352,720 | ||||||
2,078 | Paylocity Holding Corp.* |
427,881 | ||||||
842 | Tyler Technologies, Inc.* |
367,550 | ||||||
5,836 | Xero Ltd.* (Australia) |
660,582 | ||||||
|
|
|||||||
2,642,957 | ||||||||
|
|
|||||||
Building Products 3.9% | ||||||||
26,135 | Assa Abloy AB, Class B (Sweden) |
645,849 | ||||||
|
|
|||||||
Consumer Finance 4.9% | ||||||||
11,216 | Bajaj Finance Ltd. (India) |
811,641 | ||||||
|
|
|||||||
Data Processing & Outsourced Services 18.6% | ||||||||
200 | Adyen N.V.* (Netherlands) |
465,449 | ||||||
8,766 | Amadeus IT Group S.A. (Spain) |
637,827 | ||||||
3,860 | Euronet Worldwide, Inc.* |
559,391 | ||||||
3,060 | Jack Henry & Associates, Inc. |
495,689 | ||||||
2,546 | Square, Inc., Class A* |
554,112 | ||||||
1,912 | WEX, Inc.* |
389,149 | ||||||
|
|
|||||||
3,101,617 | ||||||||
|
|
|||||||
Distributors 3.8% | ||||||||
1,716 | Pool Corp. |
639,210 | ||||||
|
|
|||||||
Diversified Support Services 4.3% | ||||||||
5,597 | Copart, Inc.* |
712,218 | ||||||
|
|
|||||||
Drug Retail 3.1% | ||||||||
3,600 | Tsuruha Holdings, Inc. (Japan) |
511,933 | ||||||
|
|
|||||||
Electrical Components & Equipment 3.8% | ||||||||
5,234 | AMETEK, Inc. |
633,000 | ||||||
|
|
|||||||
Electronic Components 3.8% | ||||||||
4,795 | Amphenol Corp., Class A |
627,042 | ||||||
|
|
|||||||
Electronic Equipment & Instruments 2.6% | ||||||||
5,479 | Cognex Corp. |
439,882 | ||||||
|
|
|||||||
Financial Exchanges & Data 2.5% | ||||||||
732 | MarketAxess Holdings, Inc. |
417,650 | ||||||
|
|
|||||||
Health Care Equipment 0.4% | ||||||||
478 | Cochlear Ltd. (Australia) |
69,649 | ||||||
|
|
|||||||
Health Care Supplies 5.9% | ||||||||
12,700 | Asahi Intecc Co. Ltd. (Japan) |
463,871 | ||||||
3,368 | Coloplast A/S, Class B (Denmark) |
515,065 | ||||||
|
|
|||||||
978,936 | ||||||||
|
|
|||||||
Health Care Technology 2.6% | ||||||||
1,624 | Veeva Systems, Inc., Class A* |
442,134 | ||||||
|
|
|||||||
Industrial Conglomerates 2.7% | ||||||||
1,046 | Roper Technologies, Inc. |
450,920 | ||||||
|
|
|||||||
Industrial Machinery 3.0% | ||||||||
15,300 | MISUMI Group, Inc. (Japan) |
502,258 | ||||||
|
|
WASATCH GLOBAL SELECT FUND (WAGSX / WGGSX) | DECEMBER 31, 2020 (UNAUDITED) |
Schedule of Investments (continued)
Shares | Value | |||||||
Life Sciences Tools & Services 3.9% | ||||||||
3,356 | ICON plc* (Ireland) |
$ | 654,353 | |||||
|
|
|||||||
Packaged Foods & Meats 2.2% | ||||||||
7,560 | Britannia Industries Ltd. (India) |
369,632 | ||||||
|
|
|||||||
Specialty Chemicals 2.8% | ||||||||
4,453 | Chr. Hansen Holding A/S* (Denmark) |
460,091 | ||||||
|
|
|||||||
Trucking 3.2% | ||||||||
2,700 | Old Dominion Freight Line, Inc. |
526,986 | ||||||
|
|
|||||||
Total Common Stocks (cost $11,309,487) |
16,077,987 | |||||||
|
|
|||||||
Principal Amount |
Value | |||||||
SHORT-TERM INVESTMENTS 3.6% | ||||||||
Repurchase Agreement 3.6% | ||||||||
$597,439 | Repurchase Agreement dated 12/31/20, 0.00% due 1/4/21 with Fixed Income Clearing Corp. collateralized by $609,200 of United States Treasury Notes 0.375% due 12/31/25; value: $609,390; repurchase proceeds: $597,439 (cost $597,439) |
$ | 597,439 | |||||
|
|
|||||||
Total Short-Term Investments (cost $597,439) |
597,439 | |||||||
|
|
|||||||
Total Investments (cost $11,906,926) 100.0%§ |
16,675,426 | |||||||
Liabilities less Other Assets (0.0%) | (869 | ) | ||||||
|
|
|||||||
NET ASSETS 100.0% | $ | 16,674,557 | ||||||
|
|
|||||||
*Non-income producing.
§The aggregate amount of foreign securities fair valued pursuant to a systematic valuation model as a percent of net assets was 18.59%.
See Notes to Schedules of Investments. |
At December 31, 2020, Wasatch Global Select Funds investments, excluding short-term investments, were in the following countries:
COUNTRY |
% | |||
Australia |
4.5 | |||
Denmark |
6.1 | |||
France |
3.2 | |||
India |
7.3 | |||
Ireland |
4.1 | |||
Japan |
9.2 | |||
Netherlands |
2.9 | |||
Spain |
4.0 | |||
Sweden |
4.0 | |||
United States |
54.7 | |||
|
|
|||
Total |
100.0 | % | ||
|
|
WASATCH GLOBAL VALUE FUND (FMIEX / WILCX) | DECEMBER 31, 2020 (UNAUDITED) |
Schedule of Investments
Shares | Value | |||||||
COMMON STOCKS 98.3% | ||||||||
Aerospace & Defense 2.3% | ||||||||
38,000 | Raytheon Technologies Corp. |
$ | 2,717,380 | |||||
|
|
|||||||
Airlines 2.3% | ||||||||
29,000 | Alaska Air Group, Inc. |
1,508,000 | ||||||
65,000 | Japan Airlines Co. Ltd.* (Japan) |
1,253,480 | ||||||
|
|
|||||||
2,761,480 | ||||||||
|
|
|||||||
Automobile Manufacturers 3.2% | ||||||||
92,000 | General Motors Co. |
3,830,880 | ||||||
|
|
|||||||
Communications Equipment 2.2% | ||||||||
50,000 | Ciena Corp.* |
2,642,500 | ||||||
|
|
|||||||
Construction Materials 1.7% | ||||||||
28,000 | HeidelbergCement AG (Germany) |
2,084,754 | ||||||
|
|
|||||||
Diversified Banks 13.6% | ||||||||
57,000 | Citigroup, Inc. |
3,514,620 | ||||||
400,000 | ING Groep N.V. ADR* (Netherlands) |
3,776,000 | ||||||
29,000 | JPMorgan Chase & Co. |
3,685,030 | ||||||
575,000 | Kasikornbank Public Co. Ltd. (Thailand) |
2,188,410 | ||||||
180,000 | United Overseas Bank Ltd. (Singapore) |
3,076,725 | ||||||
|
|
|||||||
16,240,785 | ||||||||
|
|
|||||||
Diversified Metals & Mining 2.2% | ||||||||
78,000 | Anglo American plc (United Kingdom) |
2,586,094 | ||||||
|
|
|||||||
Electric Utilities 6.4% | ||||||||
44,000 | Duke Energy Corp. |
4,028,640 | ||||||
86,000 | Exelon Corp. |
3,630,920 | ||||||
|
|
|||||||
7,659,560 | ||||||||
|
|
|||||||
Electrical Components & Equipment 2.7% | ||||||||
27,000 | Eaton Corp. plc |
3,243,780 | ||||||
|
|
|||||||
Electronic Manufacturing Services 3.2% | ||||||||
1,150,000 | Hon Hai Precision Industry Co. Ltd. (Taiwan) |
3,765,393 | ||||||
|
|
|||||||
Food Retail 5.4% | ||||||||
83,500 | Koninklijke Ahold Delhaize N.V. (Netherlands) |
2,357,400 | ||||||
117,000 | Seven & i Holdings Co. Ltd. (Japan) |
4,143,036 | ||||||
|
|
|||||||
6,500,436 | ||||||||
|
|
|||||||
Health Care Facilities 2.6% | ||||||||
23,000 | Universal Health Services, Inc., Class B |
3,162,500 | ||||||
|
|
|||||||
Homebuilding 4.4% | ||||||||
70,000 | Bellway plc (United Kingdom) |
2,828,675 | ||||||
57,000 | PulteGroup, Inc. |
2,457,840 | ||||||
|
|
|||||||
5,286,515 | ||||||||
|
|
|||||||
Integrated Oil & Gas 5.4% | ||||||||
225,000 | Suncor Energy, Inc. (Canada) |
3,773,863 | ||||||
61,000 | TOTAL SE (France) |
2,630,579 | ||||||
|
|
|||||||
6,404,442 | ||||||||
|
|
|||||||
Integrated Telecommunication Services 1.3% | ||||||||
194,195 | Telekom Austria AG (Austria) |
1,501,719 | ||||||
|
|
|||||||
Multi-Line Insurance 2.1% | ||||||||
105,000 | AXA S.A. (France) |
2,502,868 | ||||||
|
|
WASATCH GLOBAL VALUE FUND (FMIEX / WILCX) | DECEMBER 31, 2020 (UNAUDITED) |
Schedule of Investments (continued)
Shares | Value | |||||||
Oil & Gas Exploration & Production 2.6% | ||||||||
63,000 | EOG Resources, Inc. |
$ | 3,141,810 | |||||
|
|
|||||||
Pharmaceuticals 7.3% | ||||||||
31,000 | Johnson & Johnson |
4,878,780 | ||||||
41,000 | Novartis AG (Switzerland) |
3,860,473 | ||||||
|
|
|||||||
8,739,253 | ||||||||
|
|
|||||||
Property & Casualty Insurance 2.9% | ||||||||
68,000 | Axis Capital Holdings Ltd. |
3,426,520 | ||||||
|
|
|||||||
Railroads 2.5% | ||||||||
14,200 | Union Pacific Corp. |
2,956,724 | ||||||
|
|
|||||||
Regional Banks 3.1% | ||||||||
120,000 | Bank OZK |
3,752,400 | ||||||
|
|
|||||||
Reinsurance 2.7% | ||||||||
11,000 | Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen (Germany) |
3,268,388 | ||||||
|
|
|||||||
Retail REITs 2.1% | ||||||||
168,000 | Kimco Realty Corp. |
2,521,680 | ||||||
|
|
|||||||
Specialty Chemicals 1.9% | ||||||||
16,000 | PPG Industries, Inc. |
2,307,520 | ||||||
|
|
|||||||
Steel 4.4% | ||||||||
1,300,000 | NMDC Ltd. (India) |
2,029,151 | ||||||
61,000 | Nucor Corp. |
3,244,590 | ||||||
|
|
|||||||
5,273,741 | ||||||||
|
|
|||||||
Technology Hardware, Storage & Peripherals 4.9% | ||||||||
51,000 | Samsung Electronics Co. Ltd. (South Korea) |
3,808,449 | ||||||
90,000 | Xerox Holdings Corp. |
2,087,100 | ||||||
|
|
|||||||
5,895,549 | ||||||||
|
|
|||||||
Tobacco 2.9% | ||||||||
45,000 | KT&G Corp. (South Korea) |
3,445,452 | ||||||
|
|
|||||||
Total Common Stocks (cost $98,254,604) |
117,620,123 | |||||||
|
|
|||||||
Principal Amount |
Value | |||||||
SHORT-TERM INVESTMENTS 2.5% | ||||||||
Repurchase Agreement 2.5% | ||||||||
$3,051,965 | Repurchase Agreement dated 12/31/20, 0.00% due 1/4/21 with Fixed Income Clearing Corp. collateralized by $3,116,500 of United States Treasury Notes 0.125% due 12/15/23; value: $3,113,019; repurchase proceeds: $3,051,965 (cost $3,051,965) |
$ | 3,051,965 | |||||
|
|
|||||||
Total Short-Term Investments (cost $3,051,965) |
3,051,965 | |||||||
|
|
|||||||
Total Investments (cost $101,306,569) 100.8%§ |
120,672,088 | |||||||
Liabilities less Other Assets (0.8%) | (943,175 | ) | ||||||
|
|
|||||||
NET ASSETS 100.0% |
$ | 119,728,913 | ||||||
|
|
WASATCH GLOBAL VALUE FUND (FMIEX / WILCX) | DECEMBER 31, 2020 (UNAUDITED) |
Schedule of Investments (continued)
*Non-income producing.
§The aggregate amount of foreign securities fair valued pursuant to a systematic valuation model as a percent of net assets was 20.09%.
ADR American Depositary Receipt.
See Notes to Schedules of Investments. |
At December 31, 2020, Wasatch Global Value Funds investments, excluding short-term investments, were in the following countries:
COUNTRY |
% | |||
Austria |
1.3 | |||
Canada |
3.2 | |||
France |
4.4 | |||
Germany |
4.5 | |||
India |
1.7 | |||
Japan |
4.6 | |||
Netherlands |
5.2 | |||
Singapore |
2.6 | |||
South Korea |
6.2 | |||
Switzerland |
3.3 | |||
Taiwan |
3.2 | |||
Thailand |
1.9 | |||
United Kingdom |
4.6 | |||
United States |
53.3 | |||
|
|
|||
Total |
100.0 | % | ||
|
|
WASATCH GREATER CHINA FUND (WAGCX / WGGCX) | DECEMBER 31, 2020 (UNAUDITED) |
Schedule of Investments
Shares | Value | |||||||
COMMON STOCKS 81.3% | ||||||||
Airport Services 1.2% | ||||||||
4,400 | Shanghai International Airport Co. Ltd. (China) |
$ | 50,904 | |||||
|
|
|||||||
Apparel, Accessories & Luxury Goods 1.2% | ||||||||
2,600 | Shenzhou International Group Holdings Ltd. (China) |
50,977 | ||||||
|
|
|||||||
Application Software 1.8% | ||||||||
990 | Agora, Inc., ADR* (China) |
39,165 | ||||||
2,900 | Glodon Co. Ltd., Class A (China) |
34,916 | ||||||
|
|
|||||||
74,081 | ||||||||
|
|
|||||||
Commodity Chemicals 4.1% | ||||||||
7,400 | Skshu Paint Co. Ltd., Class A (China) |
171,427 | ||||||
|
|
|||||||
Distillers & Vintners 1.5% | ||||||||
200 | Kweichow Moutai Co. Ltd., Class A (China) |
61,103 | ||||||
|
|
|||||||
Diversified Banks 1.6% | ||||||||
10,500 | China Merchants Bank Co. Ltd., Class H (China) |
66,366 | ||||||
|
|
|||||||
Drug Retail 1.5% | ||||||||
3,400 | Laobaixing Pharmacy Chain JSC, Class A (China) |
32,665 | ||||||
2,300 | Yifeng Pharmacy Chain Co. Ltd., Class A (China) |
31,719 | ||||||
|
|
|||||||
64,384 | ||||||||
|
|
|||||||
Education Services 3.7% | ||||||||
2,173 | TAL Education Group, ADR* (China) |
155,391 | ||||||
|
|
|||||||
Environmental & Facilities Services 0.8% | ||||||||
4,000 | Sunny Friend Environmental Technology Co. Ltd. (Taiwan) |
33,170 | ||||||
|
|
|||||||
Health Care Equipment 7.5% | ||||||||
60,000 | AK Medical Holdings Ltd. (China) |
104,174 | ||||||
2,400 | Guangzhou Wondfo Biotech Co. Ltd., Class A (China) |
32,739 | ||||||
13,000 | Microport Scientific Corp. (China) |
70,345 | ||||||
1,600 | Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Class A (China) |
104,223 | ||||||
|
|
|||||||
311,481 | ||||||||
|
|
|||||||
Health Care Supplies 1.1% | ||||||||
9,000 | Shanghai Kindly Medical Instruments Co. Ltd., Class H (China) |
47,656 | ||||||
|
|
|||||||
Health Care Technology 1.6% | ||||||||
5,600 | Ping An Healthcare & Technology Co. Ltd.* (China) |
67,901 | ||||||
|
|
|||||||
Hotels, Resorts & Cruise Lines 2.4% | ||||||||
2,200 | Huazhu Group Ltd.* (China) |
98,188 | ||||||
|
|
|||||||
Household Appliances 0.8% | ||||||||
1,900 | Bear Electric Appliance Co. Ltd., Class A (China) |
32,932 | ||||||
|
|
|||||||
Industrial Machinery 3.2% | ||||||||
9,500 | Techtronic Industries Co. Ltd. (Hong Kong) |
135,531 | ||||||
|
|
|||||||
Interactive Media & Services 4.2% | ||||||||
2,400 | Tencent Holdings Ltd. (China) |
174,603 | ||||||
|
|
|||||||
Internet & Direct Marketing Retail 11.2% | ||||||||
5,700 | Alibaba Group Holding Ltd.* (China) |
171,020 | ||||||
4,600 | Meituan, Class B* (China) |
174,804 | ||||||
3,547 | Trip.com Group Ltd., ADR* (China) |
119,640 | ||||||
|
|
|||||||
465,464 | ||||||||
|
|
|||||||
Life & Health Insurance 6.4% | ||||||||
10,800 | AIA Group Ltd. (Hong Kong) |
132,345 |
WASATCH GREATER CHINA FUND (WAGCX / WGGCX) | DECEMBER 31, 2020 (UNAUDITED) |
Schedule of Investments (continued)
Shares | Value | |||||||
11,000 | Ping An Insurance Group Co. of China Ltd., Class H (China) |
$ | 134,796 | |||||
|
|
|||||||
267,141 | ||||||||
|
|
|||||||
Life Sciences Tools & Services 6.7% | ||||||||
4,000 | Hangzhou Tigermed Consulting Co. Ltd., Class A (China) |
98,847 | ||||||
13,500 | Wuxi Biologics Cayman, Inc.* (China) |
179,015 | ||||||
|
|
|||||||
277,862 | ||||||||
|
|
|||||||
Packaged Foods & Meats 7.5% | ||||||||
7,800 | Chongqing Fuling Zhacai Group Co. Ltd., Class A (China) |
50,451 | ||||||
3,200 | Foshan Haitian Flavouring & Food Co. Ltd., Class A (China) |
98,127 | ||||||
34,000 | Vitasoy International Holdings Ltd. (Hong Kong) |
132,448 | ||||||
2,000 | Yihai International Holding Ltd. (China) |
29,668 | ||||||
|
|
|||||||
310,694 | ||||||||
|
|
|||||||
Personal Products 0.8% | ||||||||
1,300 | Proya Cosmetics Co. Ltd., Class A (China) |
35,383 | ||||||
|
|
|||||||
Pharmaceuticals 3.2% | ||||||||
7,900 | Jiangsu Hengrui Medicine Co. Ltd., Class A (China) |
134,642 | ||||||
|
|
|||||||
Semiconductors 4.1% | ||||||||
2,000 | Silergy Corp. (Taiwan) |
171,543 | ||||||
|
|
|||||||
Specialized Finance 3.2% | ||||||||
22,000 | Chailease Holding Co. Ltd. (Taiwan) |
131,540 | ||||||
|
|
|||||||
Total Common Stocks (cost $3,193,190) |
3,390,364 | |||||||
|
|
|||||||
EXCHANGE-TRADED FUND 1.2% | ||||||||
605 | iShares MSCI China ETF (China) |
48,987 | ||||||
|
|
|||||||
Total Exchange-Traded Fund (cost $48,956) |
48,987 | |||||||
|
|
|||||||
Total Investments (cost $3,242,146) 82.5% |
3,439,351 | |||||||
Other Assets less Liabilities 17.5% | 730,845 | |||||||
|
|
|||||||
NET ASSETS 100.0% |
$ | 4,170,196 | ||||||
|
|
|||||||
*Non-income producing.
ADR American Depositary Receipt.
ETF Exchange-Traded Fund.
See Notes to Schedules of Investments. |
|
At December 31, 2020, Wasatch Greater China Funds investments, were in the following countries:
COUNTRY |
% | |||
China |
78.6 | |||
Hong Kong |
11.6 | |||
Taiwan |
9.8 | |||
|
|
|||
Total |
100.0 | % | ||
|
|
WASATCH INTERNATIONAL GROWTH FUND (WAIGX / WIIGX) |
DECEMBER 31, 2020 (UNAUDITED) |
Schedule of Investments
Shares | Value | |||||||
COMMON STOCKS 99.0% | ||||||||
Aerospace & Defense 2.6% | ||||||||
195,713 | Avon Rubber plc (United Kingdom) |
$ | 8,470,733 | |||||
778,902 | CAE, Inc. (Canada) |
21,582,114 | ||||||
|
|
|||||||
30,052,847 | ||||||||
|
|
|||||||
Airport Services 1.4% | ||||||||
2,613,860 | Grupo Aeroportuario del Centro Norte S.A.B. de C.V.* (Mexico) |
16,861,791 | ||||||
|
|
|||||||
Alternative Carriers 0.5% | ||||||||
451,062 | Chief Telecom, Inc. (Taiwan) |
5,690,849 | ||||||
|
|
|||||||
Apparel, Accessories & Luxury Goods 0.9% | ||||||||
339,983 | Canada Goose Holdings, Inc.* (Canada) |
10,106,809 | ||||||
|
|
|||||||
Application Software 8.3% | ||||||||
360,973 | Descartes Systems Group, Inc. (The)* (Canada) |
21,112,766 | ||||||
61,461 | Kinaxis, Inc.* (Canada) |
8,707,579 | ||||||
238,717 | Lightspeed POS, Inc.* (Canada) |
16,848,405 | ||||||
400,801 | Miroku Jyoho Service Co. Ltd. (Japan) |
8,138,311 | ||||||
134,190 | Nemetschek SE (Germany) |
9,972,779 | ||||||
997,950 | Systena Corp. (Japan) |
20,953,987 | ||||||
1,910,419 | Technology One Ltd. (Australia) |
12,077,268 | ||||||
|
|
|||||||
97,811,095 | ||||||||
|
|
|||||||
Asset Management & Custody Banks 1.7% | ||||||||
1,581,321 | Netwealth Group Ltd. (Australia) |
19,432,763 | ||||||
|
|
|||||||
Biotechnology 1.7% | ||||||||
967,569 | Abcam plc (United Kingdom) |
20,508,846 | ||||||
|
|
|||||||
Brewers 1.4% | ||||||||
137,457 | Royal Unibrew A/S (Denmark) |
15,917,359 | ||||||
|
|
|||||||
Commodity Chemicals 0.9% | ||||||||
987,621 | Berger Paints India Ltd. (India) |
10,245,550 | ||||||
|
|
|||||||
Data Processing & Outsourced Services 1.8% | ||||||||
96,900 | GMO Payment Gateway, Inc. (Japan) |
13,021,743 | ||||||
847,079 | Infomart Corp. (Japan) |
8,089,813 | ||||||
|
|
|||||||
21,111,556 | ||||||||
|
|
|||||||
Department Stores 0.6% | ||||||||
354,574 | Poya International Co. Ltd. (Taiwan) |
7,268,653 | ||||||
|
|
|||||||
Diversified Real Estate Activities 2.0% | ||||||||
733,622 | Patrizia AG (Germany) |
23,566,744 | ||||||
|
|
|||||||
Diversified Support Services 1.5% | ||||||||
583,539 | HomeServe plc (United Kingdom) |
8,179,398 | ||||||
1,040,352 | Prestige International, Inc. (Japan) |
9,205,534 | ||||||
|
|
|||||||
17,384,932 | ||||||||
|
|
|||||||
Drug Retail 4.6% | ||||||||
248,895 | Ain Holdings, Inc. (Japan) |
15,376,785 | ||||||
361,779 | Clicks Group Ltd. (South Africa) |
6,220,531 | ||||||
137,800 | Kusuri no Aoki Holdings Co. Ltd. (Japan) |
11,984,486 | ||||||
1,228,500 | Raia Drogasil S.A. (Brazil) |
5,905,492 | ||||||
226,200 | Sugi Holdings Co. Ltd. (Japan) |
15,109,916 | ||||||
|
|
|||||||
54,597,210 | ||||||||
|
|
|||||||
Electrical Components & Equipment 1.9% | ||||||||
561,485 | Voltronic Power Technology Corp. (Taiwan) |
22,381,066 | ||||||
|
|
WASATCH INTERNATIONAL GROWTH FUND (WAIGX / WIIGX) |
DECEMBER 31, 2020 (UNAUDITED) |
Schedule of Investments (continued)
Shares | Value | |||||||
Electronic Equipment & Instruments 1.8% | ||||||||
646,767 | Halma plc (United Kingdom) |
$ | 21,660,288 | |||||
|
|
|||||||
General Merchandise Stores 1.5% | ||||||||
2,499,168 | B&M European Value Retail S.A. (United Kingdom) |
17,641,725 | ||||||
|
|
|||||||
Health Care Equipment 3.0% | ||||||||
4,108,000 | AK Medical Holdings Ltd. (China) |
7,132,414 | ||||||
25,762 | Cochlear Ltd. (Australia) |
3,753,769 | ||||||
118,526 | DiaSorin S.p.A. (Italy) |
24,747,111 | ||||||
|
|
|||||||
35,633,294 | ||||||||
|
|
|||||||
Health Care Services 1.6% | ||||||||
610,745 | Dr. Lal PathLabs Ltd. (India) |
19,241,592 | ||||||
|
|
|||||||
Health Care Supplies 2.7% | ||||||||
351,000 | Asahi Intecc Co. Ltd. (Japan) |
12,820,378 | ||||||
1,207,000 | Bioteque Corp. (Taiwan) |
5,713,254 | ||||||
211,514 | Menicon Co. Ltd. (Japan) |
12,828,791 | ||||||
|
|
|||||||
31,362,423 | ||||||||
|
|
|||||||
Health Care Technology 2.1% | ||||||||
434,700 | JMDC, Inc.* (Japan) |
24,681,668 | ||||||
|
|
|||||||
Home Improvement Retail 0.5% | ||||||||
50,011,425 | PT Ace Hardware Indonesia Tbk (Indonesia) |
6,112,564 | ||||||
|
|
|||||||
Household Appliances 0.9% | ||||||||
525,802 | Breville Group Ltd. (Australia) |
10,365,235 | ||||||
|
|
|||||||
Human Resource & Employment Services 2.1% | ||||||||
363,611 | Benefit One, Inc. (Japan) |
10,763,505 | ||||||
376,192 | SMS Co. Ltd. (Japan) |
14,426,108 | ||||||
|
|
|||||||
25,189,613 | ||||||||
|
|
|||||||
Industrial Conglomerates 0.5% | ||||||||
21,672 | 3M India Ltd.* (India) |
6,183,553 | ||||||
|
|
|||||||
Industrial Machinery 2.1% | ||||||||
375,615 | MISUMI Group, Inc. (Japan) |
12,330,428 | ||||||
2,779,115 | Rotork plc (United Kingdom) |
12,085,405 | ||||||
|
|
|||||||
24,415,833 | ||||||||
|
|
|||||||
Insurance Brokers 1.0% | ||||||||
2,693,500 | TQM Corp. Public Co. Ltd. (Thailand) |
12,091,981 | ||||||
|
|
|||||||
Interactive Media & Services 4.0% | ||||||||
217,310 | Info Edge India Ltd. (India) |
14,242,962 | ||||||
526,800 | Kakaku.com, Inc. (Japan) |
14,420,275 | ||||||
1,995,129 | Rightmove plc* (United Kingdom) |
17,756,040 | ||||||
|
|
|||||||
46,419,277 | ||||||||
|
|
|||||||
Investment Banking & Brokerage 2.8% | ||||||||
2,189,928 | AJ Bell plc (United Kingdom) |
12,982,147 | ||||||
717,321 | Avanza Bank Holding AB (Sweden) |
20,314,040 | ||||||
|
|
|||||||
33,296,187 | ||||||||
|
|
|||||||
IT Consulting & Other Services 6.5% | ||||||||
162,295 | Endava plc, ADR* (United Kingdom) |
12,456,141 | ||||||
58,641 | Globant S.A.* (Argentina) |
12,760,868 | ||||||
411,760 | Larsen & Toubro Infotech Ltd. (India) |
20,607,865 | ||||||
162,199 | Reply S.p.A. (Italy) |
18,989,748 | ||||||
649,599 | Softcat plc (United Kingdom) |
12,205,615 | ||||||
|
|
|||||||
77,020,237 | ||||||||
|
|
WASATCH INTERNATIONAL GROWTH FUND (WAIGX / WIIGX) |
DECEMBER 31, 2020 (UNAUDITED) |
Schedule of Investments (continued)
Shares | Value | |||||||
Movies & Entertainment 1.7% | ||||||||
297,991 | CTS Eventim AG & Co. KGaA (Germany) |
$ | 19,918,103 | |||||
|
|
|||||||
Other Diversified Financial Services 1.2% | ||||||||
21,218 | Hypoport SE* (Germany) |
13,483,581 | ||||||
|
|
|||||||
Packaged Foods & Meats 2.0% | ||||||||
267,914 | Morinaga & Co. Ltd. (Japan) |
10,078,052 | ||||||
3,525,449 | Vitasoy International Holdings Ltd. (Hong Kong) |
13,733,537 | ||||||
|
|
|||||||
23,811,589 | ||||||||
|
|
|||||||
Pharmaceuticals 0.7% | ||||||||
357,600 | JCR Pharmaceuticals Co. Ltd. (Japan) |
8,458,356 | ||||||
|
|
|||||||
Property & Casualty Insurance 1.7% | ||||||||
659,087 | ICICI Lombard General Insurance Co. Ltd.* (India) |
13,743,251 | ||||||
1,153,070 | Qualitas Controladora S.A.B. de C.V. (Mexico) |
6,193,706 | ||||||
|
|
|||||||
19,936,957 | ||||||||
|
|
|||||||
Publishing 0.6% | ||||||||
281,994 | Future plc (United Kingdom) |
6,702,198 | ||||||
|
|
|||||||
Regional Banks 4.4% | ||||||||
1,175,394 | AU Small Finance Bank Ltd.* (India) |
13,697,581 | ||||||
785,687 | Canadian Western Bank (Canada) |
17,665,458 | ||||||
56,102,280 | PT Bank BTPN Syariah Tbk (Indonesia) |
14,985,119 | ||||||
1,177,292 | Regional S.A.B. de C.V.* (Mexico) |
5,445,260 | ||||||
|
|
|||||||
51,793,418 | ||||||||
|
|
|||||||
Research & Consulting Services 3.0% | ||||||||
36,400 | BayCurrent Consulting, Inc. (Japan) |
6,387,928 | ||||||
715,342 | NICE Information Service Co. Ltd.* (South Korea) |
16,362,071 | ||||||
189,128 | Nihon M&A Center, Inc. (Japan) |
12,647,601 | ||||||
|
|
|||||||
35,397,600 | ||||||||
|
|
|||||||
Restaurants 1.5% | ||||||||
263,179 | Dominos Pizza Enterprises Ltd. (Australia) |
17,587,185 | ||||||
|
|
|||||||
Semiconductors 4.4% | ||||||||
125,621 | LEENO Industrial, Inc. (South Korea) |
15,622,767 | ||||||
190,182 | Melexis N.V. (Belgium) |
18,563,635 | ||||||
206,249 | Silergy Corp. (Taiwan) |
17,690,230 | ||||||
|
|
|||||||
51,876,632 | ||||||||
|
|
|||||||
Soft Drinks 2.1% | ||||||||
700,609 | Fevertree Drinks plc (United Kingdom) |
24,210,767 | ||||||
|
|
|||||||
Specialty Chemicals 0.9% | ||||||||
106,365 | Chr. Hansen Holding A/S* (Denmark) |
10,989,808 | ||||||
|
|
|||||||
Systems Software 2.5% | ||||||||
115,699 | CyberArk Software Ltd.* (Israel) |
18,695,801 | ||||||
107,962 | Douzone Bizon Co. Ltd.* (South Korea) |
10,343,872 | ||||||
|
|
|||||||
29,039,673 | ||||||||
|
|
|||||||
Trading Companies & Distributors 7.4% | ||||||||
643,107 | Diploma plc (United Kingdom) |
19,277,530 | ||||||
1,915,512 | Electrocomponents plc (United Kingdom) |
22,802,436 | ||||||
1,915,958 | Howden Joinery Group plc* (United Kingdom) |
18,068,031 | ||||||
98,754 | IMCD N.V. (Netherlands) |
12,577,015 |
WASATCH INTERNATIONAL GROWTH FUND (WAIGX / WIIGX) |
DECEMBER 31, 2020 (UNAUDITED) |
Schedule of Investments (continued)
Shares | Value | |||||||
289,124 | MonotaRO Co. Ltd. (Japan) |
$ | 14,684,264 | |||||
|
|
|||||||
87,409,276 | ||||||||
|
|
|||||||
Total Common Stocks (cost $662,247,620) |
1,164,868,683 | |||||||
|
|
|||||||
Principal Amount |
Value | |||||||
SHORT-TERM INVESTMENTS 1.3% | ||||||||
Repurchase Agreement 1.3% | ||||||||
$15,834,468 | Repurchase Agreement dated 12/31/20, 0.00% due 1/4/21 with Fixed Income Clearing Corp. collateralized by $16,169,300 of United States Treasury Notes 0.125% due 12/15/23; value: $16,151,238; repurchase proceeds: $15,834,468 (cost $15,834,468) |
$ | 15,834,468 | |||||
|
|
|||||||
Total Short-Term Investments (cost $15,834,468) |
15,834,468 | |||||||
|
|
|||||||
Total Investments (cost $678,082,088) 100.3%§ |
1,180,703,151 | |||||||
Liabilities less Other Assets (0.3%) | (3,312,348 | ) | ||||||
|
|
|||||||
NET ASSETS 100.0% |
$ | 1,177,390,803 | ||||||
|
|
|||||||
*Non-income producing.
§The aggregate amount of foreign securities fair valued pursuant to a systematic valuation model as a percent of net assets was 39.35%.
ADR American Depositary Receipt.
See Notes to Schedules of Investments. |
|
At December 31, 2020, Wasatch International Growth Funds investments, excluding short-term investments, were in the following countries:
COUNTRY |
% | |||
Argentina |
1.1 | |||
Australia |
5.4 | |||
Belgium |
1.6 | |||
Brazil |
0.5 | |||
Canada |
8.2 | |||
China |
0.6 | |||
Denmark |
2.3 | |||
Germany |
5.8 | |||
Hong Kong |
1.2 | |||
India |
8.4 | |||
Indonesia |
1.8 | |||
Israel |
1.6 | |||
Italy |
3.8 | |||
Japan |
22.0 | |||
Mexico |
2.5 | |||
Netherlands |
1.1 | |||
South Africa |
0.5 | |||
South Korea |
3.6 | |||
Sweden |
1.8 | |||
Taiwan |
5.0 | |||
Thailand |
1.0 | |||
United Kingdom |
20.2 | |||
|
|
|||
Total |
100.0 | % | ||
|
|
WASATCH INTERNATIONAL OPPORTUNITIES FUND (WAIOX / WIIOX) |
DECEMBER 31, 2020 (UNAUDITED) |
Schedule of Investments
Shares | Value | |||||||
COMMON STOCKS 98.9% | ||||||||
Advertising 2.3% | ||||||||
1,245,598 | YouGov plc (United Kingdom) |
$ | 17,800,073 | |||||
|
|
|||||||
Aerospace & Defense 1.8% | ||||||||
307,531 | Avon Rubber plc (United Kingdom) |
13,310,372 | ||||||
|
|
|||||||
Alternative Carriers 1.9% | ||||||||
812,000 | Chief Telecom, Inc. (Taiwan) |
10,244,644 | ||||||
67,087 | KINX, Inc.* (South Korea) |
4,443,564 | ||||||
|
|
|||||||
14,688,208 | ||||||||
|
|
|||||||
Application Software 21.6% | ||||||||
84,848 | Atoss Software AG (Germany) |
16,384,284 | ||||||
135,500 | Cybozu, Inc. (Japan) |
3,386,915 | ||||||
2,625,322 | dotdigital group plc (United Kingdom) |
5,744,208 | ||||||
1,000,180 | Elmo Software Ltd.* (Australia) |
4,973,522 | ||||||
88,882 | Esker S.A. (France) |
19,175,705 | ||||||
457,254 | Fortnox AB (Sweden) |
25,703,726 | ||||||
125,000 | Freee KK* (Japan) |
12,224,211 | ||||||
631,387 | GB Group plc* (United Kingdom) |
8,098,900 | ||||||
1,382,844 | LINK Mobility Group Holding ASA* (Norway) |
7,493,009 | ||||||
81,168 | Mensch und Maschine Software SE (Germany) |
5,949,694 | ||||||
162,006 | Miroku Jyoho Service Co. Ltd. (Japan) |
3,289,551 | ||||||
1,193,588 | Pexip Holding ASA* (Norway) |
9,143,509 | ||||||
730,632 | Rakus Co. Ltd. (Japan) |
16,922,449 | ||||||
667,500 | Systena Corp. (Japan) |
14,015,518 | ||||||
45,139 | Unifiedpost Group S.A.* (Belgium) |
1,378,602 | ||||||
236,945 | Vitec Software Group AB, Class B (Sweden) |
9,846,248 | ||||||
|
|
|||||||
163,730,051 | ||||||||
|
|
|||||||
Brewers 0.6% | ||||||||
42,497 | Royal Unibrew A/S (Denmark) |
4,921,103 | ||||||
|
|
|||||||
Commodity Chemicals 2.9% | ||||||||
867,649 | Berger Paints India Ltd. (India) |
9,000,964 | ||||||
755,758 | Gulf Oil Lubricants India Ltd. (India) |
7,426,996 | ||||||
255,016 | Supreme Industries Ltd. (India) |
5,688,758 | ||||||
|
|
|||||||
22,116,718 | ||||||||
|
|
|||||||
Consumer Finance 1.8% | ||||||||
1,412,156 | Arrow Global Group plc* (United Kingdom) |
3,949,150 | ||||||
236,148 | Gruppo MutuiOnline S.p.A. (Italy) |
10,053,884 | ||||||
|
|
|||||||
14,003,034 | ||||||||
|
|
|||||||
Data Processing & Outsourced Services 2.7% | ||||||||
5,092,380 | Fawry for Banking & Payment Technology Services S.A.E.* (Egypt) |
10,893,744 | ||||||
1,036,400 | Infomart Corp. (Japan) |
9,897,875 | ||||||
|
|
|||||||
20,791,619 | ||||||||
|
|
|||||||
Department Stores 1.1% | ||||||||
396,908 | Poya International Co. Ltd. (Taiwan) |
8,136,487 | ||||||
|
|
|||||||
Diversified Banks 1.3% | ||||||||
4,041,560 | City Union Bank Ltd. (India) |
9,992,238 | ||||||
|
|
|||||||
Diversified Support Services 5.5% | ||||||||
677,800 | Japan Elevator Service Holdings Co. Ltd. (Japan) |
17,260,994 | ||||||
6,221,404 | Johnson Service Group plc* (United Kingdom) |
11,910,885 | ||||||
1,444,562 | Prestige International, Inc. (Japan) |
12,782,178 | ||||||
|
|
|||||||
41,954,057 | ||||||||
|
|
WASATCH INTERNATIONAL OPPORTUNITIES FUND (WAIOX / WIIOX) |
DECEMBER 31, 2020 (UNAUDITED) |
Schedule of Investments (continued)
Shares | Value | |||||||
Drug Retail 1.3% | ||||||||
50,000 | Kusuri no Aoki Holdings Co. Ltd. (Japan) |
$ | 4,348,507 | |||||
214,510 | Yakuodo Holdings Co. Ltd. (Japan) |
5,141,898 | ||||||
|
|
|||||||
9,490,405 | ||||||||
|
|
|||||||
Electrical Components & Equipment 2.9% | ||||||||
676,611 | Amara Raja Batteries Ltd. (India) |
8,547,055 | ||||||
342,471 | Voltronic Power Technology Corp. (Taiwan) |
13,651,061 | ||||||
|
|
|||||||
22,198,116 | ||||||||
|
|
|||||||
Electronic Components 0.7% | ||||||||
1,815,934 | Strix Group plc (United Kingdom) |
5,463,241 | ||||||
|
|
|||||||
Electronic Equipment & Instruments 0.6% | ||||||||
189,470 | Carel Industries S.p.A. (Italy) |
4,447,607 | ||||||
|
|
|||||||
Food Retail 2.6% | ||||||||
3,819,129 | Philippine Seven Corp. (Philippines) |
9,527,245 | ||||||
70,499 | Rami Levy Chain Stores Hashikma Marketing 2006 Ltd. (Israel) |
4,936,213 | ||||||
4,502,100 | Sheng Siong Group Ltd. (Singapore) |
5,280,157 | ||||||
|
|
|||||||
19,743,615 | ||||||||
|
|
|||||||
Health Care Equipment 2.5% | ||||||||
4,128,000 | AK Medical Holdings Ltd. (China) |
7,167,138 | ||||||
166,826 | CellaVision AB* (Sweden) |
6,211,965 | ||||||
180,316 | Medistim ASA (Norway) |
5,264,789 | ||||||
|
|
|||||||
18,643,892 | ||||||||
|
|
|||||||
Health Care Facilities 0.9% | ||||||||
24,257,437 | Cleopatra Hospital* (Egypt) |
7,155,404 | ||||||
|
|
|||||||
Health Care Services 3.3% | ||||||||
255,177 | Dr. Lal PathLabs Ltd. (India) |
8,039,381 | ||||||
629,362 | Metropolis Healthcare Ltd.* (India) |
16,878,883 | ||||||
|
|
|||||||
24,918,264 | ||||||||
|
|
|||||||
Health Care Supplies 2.4% | ||||||||
1,537,000 | Bioteque Corp. (Taiwan) |
7,275,286 | ||||||
887,906 | Nanosonics Ltd.* (Australia) |
5,496,785 | ||||||
1,006,200 | Shanghai Kindly Medical Instruments Co. Ltd., Class H (China) |
5,327,930 | ||||||
|
|
|||||||
18,100,001 | ||||||||
|
|
|||||||
Health Care Technology 3.6% | ||||||||
168,200 | Medley, Inc.* (Japan) |
7,408,793 | ||||||
151,739 | Nexus AG (Germany) |
9,465,371 | ||||||
396,745 | Pro Medicus Ltd. (Australia) |
10,448,538 | ||||||
|
|
|||||||
27,322,702 | ||||||||
|
|
|||||||
Home Improvement Retail 0.7% | ||||||||
43,238,500 | PT Ace Hardware Indonesia Tbk (Indonesia) |
5,284,754 | ||||||
|
|
|||||||
Human Resource & Employment Services 1.9% | ||||||||
240,477 | HeadHunter Group plc, ADR (Russia) |
7,274,429 | ||||||
179,762 | SMS Co. Ltd. (Japan) |
6,893,464 | ||||||
|
|
|||||||
14,167,893 | ||||||||
|
|
|||||||
Insurance Brokers 1.7% | ||||||||
2,826,500 | TQM Corp. Public Co. Ltd. (Thailand) |
12,689,060 | ||||||
|
|
|||||||
Interactive Media & Services 0.1% | ||||||||
15,559 | Atrae, Inc.* (Japan) |
420,855 | ||||||
|
|
|||||||
Internet Services & Infrastructure 2.3% | ||||||||
87,906 | BASE, Inc.* (Japan) |
8,320,130 |
WASATCH INTERNATIONAL OPPORTUNITIES FUND (WAIOX / WIIOX) |
DECEMBER 31, 2020 (UNAUDITED) |
Schedule of Investments (continued)
Shares | Value | |||||||
110,590 | Hennge KK* (Japan) |
$ | 8,908,735 | |||||
|
|
|||||||
17,228,865 | ||||||||
|
|
|||||||
IT Consulting & Other Services 3.4% | ||||||||
233,971 | Appen Ltd. (Australia) |
4,453,581 | ||||||
98,172 | Aubay (France) |
4,119,658 | ||||||
1,012,650 | Avant Corp. (Japan) |
11,373,880 | ||||||
379,364 | FDM Group Holdings plc (United Kingdom) |
5,831,094 | ||||||
|
|
|||||||
25,778,213 | ||||||||
|
|
|||||||
Life Sciences Tools & Services 0.8% | ||||||||
344,409 | Biotage AB* (Sweden) |
5,818,568 | ||||||
|
|
|||||||
Other Diversified Financial Services 2.0% | ||||||||
23,532 | Hypoport SE* (Germany) |
14,954,078 | ||||||
|
|
|||||||
Packaged Foods & Meats 1.0% | ||||||||
2,003,120 | Vitasoy International Holdings Ltd. (Hong Kong) |
7,803,240 | ||||||
|
|
|||||||
Personal Products 0.9% | ||||||||
617,619 | Sarantis S.A. (Greece) |
7,054,709 | ||||||
|
|
|||||||
Property & Casualty Insurance 2.1% | ||||||||
2,966,567 | Qualitas Controladora S.A.B. de C.V. (Mexico) |
15,934,890 | ||||||
|
|
|||||||
Publishing 1.8% | ||||||||
569,927 | Future plc (United Kingdom) |
13,545,548 | ||||||
|
|
|||||||
Regional Banks 1.2% | ||||||||
32,993,260 | PT Bank BTPN Syariah Tbk (Indonesia) |
8,812,617 | ||||||
|
|
|||||||
Research & Consulting Services 5.8% | ||||||||
111,400 | IR Japan Holdings Ltd. (Japan) |
17,847,848 | ||||||
918,928 | JTC plc (United Kingdom) |
7,012,022 | ||||||
655,364 | NICE Information Service Co. Ltd.* (South Korea) |
14,990,189 | ||||||
228,185 | Talenom Oyj (Finland) |
4,204,249 | ||||||
|
|
|||||||
44,054,308 | ||||||||
|
|
|||||||
Restaurants 0.0% | ||||||||
630,045 | Patisserie Holdings plc* *** §§ (United Kingdom) |
8,616 | ||||||
|
|
|||||||
Semiconductor Equipment 0.5% | ||||||||
289,332 | Japan Material Co. Ltd. (Japan) |
3,975,990 | ||||||
|
|
|||||||
Semiconductors 3.2% | ||||||||
242,181 | Elmos Semiconductor SE (Germany) |
8,128,556 | ||||||
130,715 | LEENO Industrial, Inc. (South Korea) |
16,256,279 | ||||||
|
|
|||||||
24,384,835 | ||||||||
|
|
|||||||
Specialized Finance 0.8% | ||||||||
266,400 | eGuarantee, Inc. (Japan) |
5,806,847 | ||||||
|
|
|||||||
Specialty Stores 0.6% | ||||||||
144,973 | Musti Group Oyj* (Finland) |
4,343,324 | ||||||
|
|
|||||||
Systems Software 1.0% | ||||||||
216,385 | Exasol AG* (Germany) |
7,349,544 | ||||||
|
|
|||||||
Thrifts & Mortgage Finance 2.8% | ||||||||
533,136 | Aavas Financiers Ltd.* (India) |
12,299,322 | ||||||
108,532 | Equitable Group, Inc. (Canada) |
8,611,621 | ||||||
|
|
|||||||
20,910,943 | ||||||||
|
|
|||||||
Total Common Stocks (cost $379,753,821) |
749,254,904 | |||||||
|
|
WASATCH INTERNATIONAL OPPORTUNITIES FUND (WAIOX / WIIOX) |
DECEMBER 31, 2020 (UNAUDITED) |
Schedule of Investments (continued)
Principal Amount |
Value | |||||||
SHORT-TERM INVESTMENTS 1.1% | ||||||||
Repurchase Agreement 1.1% | ||||||||
$8,413,824 | Repurchase Agreement dated 12/31/20, 0.00% due 1/4/21 with Fixed Income Clearing Corp. collateralized by $8,591,700 of United States Treasury Notes 0.125% due 12/15/23; value: $8,582,103; repurchase proceeds: $8,413,824 (cost $8,413,824) |
$ | 8,413,824 | |||||
|
|
|||||||
Total Short-Term Investments (cost $8,413,824) |
8,413,824 | |||||||
|
|
|||||||
Total Investments (cost $388,167,645) 100.0%§ |
757,668,728 | |||||||
Liabilities less Other Assets (<0.1%) | (172,473 | ) | ||||||
|
|
|||||||
NET ASSETS 100.0% |
$ | 757,496,255 | ||||||
|
|
|||||||
*Non-income producing.
***Security was fair valued under procedures adopted by the Board of Trustees (see Note 8).
§§The aggregate value of illiquid holdings at December 31, 2020 amounted to approximately $8,616,and represents 0.00% of net assets.
§The aggregate amount of foreign securities fair valued pursuant to a systematic valuation model as a percent of net assets was 43.65%.
ADR American Depositary Receipt.
See Notes to Schedules of Investments. |
At December 31, 2020, Wasatch International Opportunities Funds investments, excluding short-term investments, were in the following countries:
COUNTRY |
% | |||
Australia |
3.4 | |||
Belgium |
0.2 | |||
Canada |
1.1 | |||
China |
1.7 | |||
Denmark |
0.7 | |||
Egypt |
2.4 | |||
Finland |
1.1 | |||
France |
3.1 | |||
Germany |
8.3 | |||
Greece |
0.9 | |||
Hong Kong |
1.0 | |||
India |
10.4 | |||
Indonesia |
1.9 | |||
Israel |
0.7 | |||
Italy |
1.9 | |||
Japan |
22.7 | |||
Mexico |
2.1 | |||
Norway |
2.9 | |||
Philippines |
1.3 | |||
Russia |
1.0 | |||
Singapore |
0.7 | |||
South Korea |
4.8 | |||
Sweden |
6.4 | |||
Taiwan |
5.2 | |||
Thailand |
1.7 | |||
United Kingdom |
12.4 | |||
|
|
|||
Total |
100.0 | % | ||
|
|
WASATCH INTERNATIONAL SELECT FUND (WAISX / WGISX) |
DECEMBER 31, 2020 (UNAUDITED) |
Schedule of Investments
Shares | Value | |||||||
COMMON STOCKS 93.2% | ||||||||
Apparel, Accessories & Luxury Goods 2.9% | ||||||||
186 | Hermes International (France) |
$ | 199,869 | |||||
|
|
|||||||
Application Software 13.4% | ||||||||
1,172 | Dassault Systemes SE (France) |
237,889 | ||||||
4,415 | TeamViewer AG* (Germany) |
237,162 | ||||||
1,349 | Temenos AG (Switzerland) |
187,956 | ||||||
2,305 | Xero Ltd.* (Australia) |
260,905 | ||||||
|
|
|||||||
923,912 | ||||||||
|
|
|||||||
Asset Management & Custody Banks 3.6% | ||||||||
210 | Partners Group Holding AG (Switzerland) |
246,759 | ||||||
|
|
|||||||
Building Products 3.6% | ||||||||
10,022 | Assa Abloy AB, Class B (Sweden) |
247,664 | ||||||
|
|
|||||||
Data Processing & Outsourced Services 9.5% | ||||||||
103 | Adyen N.V.* (Netherlands) |
239,706 | ||||||
3,318 | Amadeus IT Group S.A. (Spain) |
241,423 | ||||||
1,809 | Worldline S.A.* (France) |
174,808 | ||||||
|
|
|||||||
655,937 | ||||||||
|
|
|||||||
Drug Retail 5.8% | ||||||||
1,100 | Cosmos Pharmaceutical Corp. (Japan) |
177,625 | ||||||
1,600 | Tsuruha Holdings, Inc. (Japan) |
227,526 | ||||||
|
|
|||||||
405,151 | ||||||||
|
|
|||||||
Electronic Equipment & Instruments 3.4% | ||||||||
7,106 | Halma plc (United Kingdom) |
237,981 | ||||||
|
|
|||||||
Health Care Equipment 5.6% | ||||||||
187 | Cochlear Ltd. (Australia) |
27,248 | ||||||
920 | DiaSorin S.p.A. (Italy) |
192,087 | ||||||
6,992 | Fisher & Paykel Healthcare Corp. Ltd. (New Zealand) |
165,864 | ||||||
|
|
|||||||
385,199 | ||||||||
|
|
|||||||
Health Care Supplies 5.7% | ||||||||
5,500 | Asahi Intecc Co. Ltd. (Japan) |
200,889 | ||||||
1,248 | Coloplast A/S, Class B (Denmark) |
190,855 | ||||||
|
|
|||||||
391,744 | ||||||||
|
|
|||||||
Health Care Technology 4.0% | ||||||||
2,900 | M3, Inc. (Japan) |
273,955 | ||||||
|
|
|||||||
Industrial Machinery 6.1% | ||||||||
6,400 | MISUMI Group, Inc. (Japan) |
210,094 | ||||||
229 | Rational AG (Germany) |
212,823 | ||||||
|
|
|||||||
422,917 | ||||||||
|
|
|||||||
Interactive Media & Services 8.6% | ||||||||
7,400 | Kakaku.com, Inc. (Japan) |
202,563 | ||||||
1,820 | REA Group Ltd. (Australia) |
208,870 | ||||||
2,270 | Scout24 AG (Germany) |
185,490 | ||||||
|
|
|||||||
596,923 | ||||||||
|
|
|||||||
IT Consulting & Other Services 2.6% | ||||||||
900 | Obic Co. Ltd. (Japan) |
180,880 | ||||||
|
|
|||||||
Life Sciences Tools & Services 5.5% | ||||||||
1,043 | ICON plc* (Ireland) |
203,364 | ||||||
503 | Sartorius Stedim Biotech (France) |
178,940 | ||||||
|
|
|||||||
382,304 | ||||||||
|
|
WASATCH INTERNATIONAL SELECT FUND (WAISX / WGISX) |
DECEMBER 31, 2020 (UNAUDITED) |
Schedule of Investments (continued)
Shares | Value | |||||||
Packaged Foods & Meats 2.4% | ||||||||
42,000 | Vitasoy International Holdings Ltd. (Hong Kong) |
$ | 163,613 | |||||
|
|
|||||||
Research & Consulting Services 5.3% | ||||||||
2,426 | Intertek Group plc (United Kingdom) |
187,375 | ||||||
2,159 | Wolters Kluwer N.V. (Netherlands) |
182,149 | ||||||
|
|
|||||||
369,524 | ||||||||
|
|
|||||||
Soft Drinks 2.7% | ||||||||
5,370 | Fevertree Drinks plc (United Kingdom) |
185,570 | ||||||
|
|
|||||||
Specialty Chemicals 2.5% | ||||||||
1,708 | Chr. Hansen Holding A/S* (Denmark) |
176,473 | ||||||
|
|
|||||||
Total Common Stocks (cost $5,061,708) |
6,446,375 | |||||||
|
|
|||||||
Principal Amount |
Value | |||||||
SHORT-TERM INVESTMENTS 6.2% | ||||||||
Repurchase Agreement 6.2% | ||||||||
$430,047 | Repurchase Agreement dated 12/31/20, 0.00% due 1/4/21 with Fixed Income Clearing Corp. collateralized by $373,600 of United States Treasury Notes 2.375% due 11/15/49; value: $438,677; repurchase proceeds: $430,047 (cost $430,047) |
$ | 430,047 | |||||
|
|
|||||||
Total Short-Term Investments (cost $430,047) |
430,047 | |||||||
|
|
|||||||
Total Investments (cost $5,491,755) 99.4%§ |
6,876,422 | |||||||
|
|
|||||||
Other Assets less Liabilities 0.6% | 38,563 | |||||||
|
|
|||||||
NET ASSETS 100.0% |
$ | 6,914,985 | ||||||
|
|
|||||||
*Non-income producing.
§The aggregate amount of foreign securities fair valued pursuant to a systematic valuation model as a percent of net assets was 48.46%.
See Notes to Schedules of Investments. |
At December 31, 2020, Wasatch International Select Funds investments, excluding short-term investments, were in the following countries:
COUNTRY |
% | |||
Australia |
7.7 | |||
Denmark |
5.7 | |||
France |
12.3 | |||
Germany |
9.9 | |||
Hong Kong |
2.5 | |||
Ireland |
3.2 | |||
Italy |
3.0 | |||
Japan |
22.9 | |||
Netherlands |
6.5 | |||
New Zealand |
2.6 | |||
Spain |
3.7 | |||
Sweden |
3.8 | |||
Switzerland |
6.7 | |||
United Kingdom |
9.5 | |||
|
|
|||
Total |
100.0 | % | ||
|
|
WASATCH MICRO CAP FUND (WMICX / WGICX) | DECEMBER 31, 2020 (UNAUDITED) |
Schedule of Investments
Shares | Value | |||||||
COMMON STOCKS 94.5% | ||||||||
Agricultural Products 1.1% | ||||||||
251,425 | Hydrofarm Holdings Group, Inc.* |
$ | 13,219,927 | |||||
|
|
|||||||
Alternative Carriers 1.0% | ||||||||
76,862 | Bandwidth, Inc., Class A* |
11,811,384 | ||||||
|
|
|||||||
Apparel Retail 1.7% | ||||||||
467,584 | Boot Barn Holdings, Inc.* |
20,274,442 | ||||||
|
|
|||||||
Apparel, Accessories & Luxury Goods 0.9% | ||||||||
495,609 | Superior Group of Cos., Inc. |
11,517,953 | ||||||
|
|
|||||||
Application Software 5.1% | ||||||||
112,268 | Five9, Inc.* |
19,579,539 | ||||||
559,411 | Medallia, Inc.* |
18,583,634 | ||||||
528,900 | Upland Software, Inc.* |
24,271,221 | ||||||
|
|
|||||||
62,434,394 | ||||||||
|
|
|||||||
Auto Parts & Equipment 3.8% | ||||||||
188,343 | Patrick Industries, Inc. |
12,873,244 | ||||||
319,601 | Stoneridge, Inc.* |
9,661,538 | ||||||
459,982 | XPEL, Inc.* |
23,716,672 | ||||||
|
|
|||||||
46,251,454 | ||||||||
|
|
|||||||
Biotechnology 8.0% | ||||||||
122,792 | ChemoCentryx, Inc.* |
7,603,281 | ||||||
437,461 | Cytokinetics, Inc.* |
9,090,440 | ||||||
422,302 | Esperion Therapeutics, Inc.* |
10,979,852 | ||||||
816,295 | Flexion Therapeutics, Inc.* |
9,420,044 | ||||||
454,324 | Frequency Therapeutics, Inc.* |
16,019,464 | ||||||
410,253 | Inovio Pharmaceuticals, Inc.* |
3,630,739 | ||||||
525,186 | MacroGenics, Inc.* |
12,005,752 | ||||||
1,372,156 | MEI Pharma, Inc.* |
3,622,492 | ||||||
137,048 | Nkarta, Inc.* |
8,424,340 | ||||||
1,091,167 | Sangamo Therapeutics, Inc.* |
17,027,661 | ||||||
|
|
|||||||
97,824,065 | ||||||||
|
|
|||||||
Casinos & Gaming 1.2% | ||||||||
715,344 | GAN Ltd.* (United Kingdom) |
14,507,176 | ||||||
|
|
|||||||
Construction & Engineering 1.9% | ||||||||
792,991 | Construction Partners, Inc., Class A* |
23,083,968 | ||||||
|
|
|||||||
Construction Machinery & Heavy Trucks 1.3% | ||||||||
111,672 | Alamo Group, Inc. |
15,405,152 | ||||||
|
|
|||||||
Data Processing & Outsourced Services 2.2% | ||||||||
338,208 | Repay Holdings Corp.* |
9,216,168 | ||||||
1,620,901 | USA Technologies, Inc.* |
16,987,043 | ||||||
|
|
|||||||
26,203,211 | ||||||||
|
|
|||||||
Electrical Components & Equipment 1.1% | ||||||||
267,573 | Allied Motion Technologies, Inc. |
13,672,980 | ||||||
|
|
|||||||
Electronic Equipment & Instruments 5.1% | ||||||||
594,854 | Napco Security Technologies, Inc.* |
15,597,072 | ||||||
640,552 | nLight, Inc.* |
20,914,023 | ||||||
398,268 | PAR Technology Corp.* |
25,007,247 | ||||||
|
|
|||||||
61,518,342 | ||||||||
|
|
|||||||
Environmental & Facilities Services 1.1% | ||||||||
631,178 | Heritage-Crystal Clean, Inc.* |
13,298,920 | ||||||
|
|
WASATCH MICRO CAP FUND (WMICX / WGICX) | DECEMBER 31, 2020 (UNAUDITED) |
Schedule of Investments (continued)
Shares | Value | |||||||
Financial Exchanges & Data 2.2% | ||||||||
756,678 | Open Lending Corp., Class A* |
$ | 26,453,463 | |||||
|
|
|||||||
Food Distributors 1.0% | ||||||||
473,533 | Chefs Warehouse, Inc. (The)* |
12,165,063 | ||||||
|
|
|||||||
Health Care Equipment 3.2% | ||||||||
536,651 | CryoLife, Inc.* |
12,670,330 | ||||||
1,833,317 | GenMark Diagnostics, Inc.* |
26,766,428 | ||||||
|
|
|||||||
39,436,758 | ||||||||
|
|
|||||||
Health Care Facilities 3.7% | ||||||||
440,840 | Pennant Group, Inc. (The)* |
25,595,170 | ||||||
160,171 | U.S. Physical Therapy, Inc. |
19,260,563 | ||||||
|
|
|||||||
44,855,733 | ||||||||
|
|
|||||||
Health Care Services 3.5% | ||||||||
134,083 | Addus HomeCare Corp.* |
15,699,779 | ||||||
400,687 | Castle Biosciences, Inc.* |
26,906,132 | ||||||
|
|
|||||||
42,605,911 | ||||||||
|
|
|||||||
Health Care Supplies 4.0% | ||||||||
386,929 | BioLife Solutions, Inc.* |
15,434,598 | ||||||
282,444 | OrthoPediatrics Corp.* |
11,650,815 | ||||||
340,290 | Silk Road Medical, Inc.* |
21,431,464 | ||||||
|
|
|||||||
48,516,877 | ||||||||
|
|
|||||||
Health Care Technology 1.1% | ||||||||
181,582 | Simulations Plus, Inc. |
13,059,377 | ||||||
|
|
|||||||
Home Furnishings 1.8% | ||||||||
683,952 | Purple Innovation, Inc.* |
22,529,379 | ||||||
|
|
|||||||
Homebuilding 1.8% | ||||||||
90,357 | LGI Homes, Inc.* |
9,564,289 | ||||||
410,826 | Skyline Champion Corp.* |
12,710,956 | ||||||
|
|
|||||||
22,275,245 | ||||||||
|
|
|||||||
Industrial Machinery 5.9% | ||||||||
298,363 | Helios Technologies, Inc. |
15,899,764 | ||||||
152,720 | Kadant, Inc. |
21,530,466 | ||||||
378,636 | Kornit Digital Ltd.* (Israel) |
33,747,827 | ||||||
|
|
|||||||
71,178,057 | ||||||||
|
|
|||||||
Interactive Media & Services 0.8% | ||||||||
242,697 | MediaAlpha, Inc., Class A* |
9,482,172 | ||||||
|
|
|||||||
Internet & Direct Marketing Retail 1.8% | ||||||||
841,514 |
1-800-Flowers.com, Inc., Class A* |
21,879,364 | ||||||
|
|
|||||||
Leisure Products 1.8% | ||||||||
868,429 | MasterCraft Boat Holdings, Inc.* |
21,571,776 | ||||||
|
|
|||||||
Oil & Gas Equipment & Services 1.1% | ||||||||
301,946 | DMC Global, Inc. |
13,059,165 | ||||||
|
|
|||||||
Packaged Foods & Meats 2.1% | ||||||||
178,744 | Freshpet, Inc.* |
25,379,861 | ||||||
|
|
|||||||
Paper Packaging 1.3% | ||||||||
346,557 | UFP Technologies, Inc.* |
16,149,556 | ||||||
|
|
|||||||
Pharmaceuticals 10.1% | ||||||||
2,927,129 | BioDelivery Sciences International, Inc.* |
12,293,942 | ||||||
2,738,723 | Cresco Labs, Inc.* (Canada) |
27,045,132 | ||||||
950,896 | Green Thumb Industries, Inc.* |
23,296,952 |
WASATCH MICRO CAP FUND (WMICX / WGICX) | DECEMBER 31, 2020 (UNAUDITED) |
Schedule of Investments (continued)
Shares | Value | |||||||
12,282,143 | IM Cannabis Corp.* §§ (Canada) |
$ | 24,218,854 | |||||
349,579 | Intra-Cellular Therapies, Inc.* |
11,116,612 | ||||||
2,368,969 | PharmaCielo Ltd.* (Canada) |
3,871,047 | ||||||
2,057,256 | TerrAscend Corp.* (Canada) |
20,525,690 | ||||||
|
|
|||||||
122,368,229 | ||||||||
|
|
|||||||
Regional Banks 1.0% | ||||||||
455,391 | Altabancorp |
12,714,517 | ||||||
|
|
|||||||
Research & Consulting Services 2.0% | ||||||||
327,356 | ICF International, Inc. |
24,332,371 | ||||||
|
|
|||||||
Restaurants 1.0% | ||||||||
448,769 | Chuys Holdings, Inc.* |
11,887,891 | ||||||
|
|
|||||||
Semiconductor Equipment 1.6% | ||||||||
279,686 | Nova Measuring Instruments Ltd.* (Israel) |
19,745,832 | ||||||
|
|
|||||||
Semiconductors 1.1% | ||||||||
1,447,516 | NeoPhotonics Corp.* |
13,157,920 | ||||||
|
|
|||||||
Specialized Consumer Services 0.3% | ||||||||
52,265 | Collectors Universe, Inc. |
3,940,781 | ||||||
|
|
|||||||
Systems Software 2.8% | ||||||||
92,752 | CyberArk Software Ltd.* (Israel) |
14,987,796 | ||||||
212,052 | Rapid7, Inc.* |
19,118,608 | ||||||
|
|
|||||||
34,106,404 | ||||||||
|
|
|||||||
Trading Companies & Distributors 2.0% | ||||||||
690,249 | Transcat, Inc.* |
23,937,835 | ||||||
|
|
|||||||
Total Common Stocks (cost $680,790,042) |
1,147,812,905 | |||||||
|
|
|||||||
WARRANTS 0.2% | ||||||||
Pharmaceuticals 0.2% | ||||||||
1,289,600 | C21 Investments, Inc., 12/31/2023* *** # (Canada) |
891,545 | ||||||
1,897,571 | IM Cannabis Corp., 10/10/2021* §§ (Canada) |
2,228,666 | ||||||
|
|
|||||||
3,120,211 | ||||||||
|
|
|||||||
Total Warrants (cost $0) |
3,120,211 | |||||||
|
|
|||||||
Principal Amount |
Value | |||||||
SHORT-TERM INVESTMENTS 5.9% | ||||||||
Repurchase Agreement 5.9% | ||||||||
$71,400,311 | Repurchase Agreement dated 12/31/20, 0.00% due 1/4/21 with Fixed Income Clearing Corp. collateralized by $72,909,800 of United States Treasury Notes 0.125% due 12/15/23; value: $72,828,356; repurchase proceeds: $71,400,311 (cost $71,400,311) |
$ | 71,400,311 | |||||
|
|
|||||||
Total Short-Term Investments (cost $71,400,311) |
71,400,311 | |||||||
|
|
|||||||
Total Investments (cost $752,190,353) 100.6% |
1,222,333,427 | |||||||
Liabilities less Other Assets (0.6%) | (7,191,601 | ) | ||||||
|
|
|||||||
NET ASSETS 100.0% |
$ | 1,215,141,826 | ||||||
|
|
WASATCH MICRO CAP FUND (WMICX / WGICX) | DECEMBER 31, 2020 (UNAUDITED) |
Schedule of Investments (continued)
*Non-income producing.
***Security was fair valued under procedures adopted by the Board of Trustees (see Note 8).
Security purchased in a private placement transaction or under Rule 144A of the Securities Act of 1933 (see Note 7). The aggregate value of securities purchased in a private placement transaction or under Rule 144A of the Securities Act of 1933 at December 31, 2020, amounted to approximately $891,545, and represented 0.07% of net assets.
Affiliated company (see Note 6).
§§The aggregate value of illiquid holdings at December 31, 2020, amounted to approximately $26,447,520, and represented 2.18% of net assets.
#In November 2020, the Fund entered into an equity commitment agreement to acquire common stock in C21 Investments, Inc. The remaining commitment amount at December 31, 2020 was $2,981,381 (CAD3,795,000) (see Note 9).
See Notes to Schedules of Investments. |
At December 31, 2020, Wasatch Micro Cap Funds investments, excluding short-term investments, were in the following countries:
COUNTRY |
% | |||
Canada |
6.8 | |||
Israel |
6.0 | |||
United Kingdom |
1.3 | |||
United States |
85.9 | |||
|
|
|||
Total |
100.0 | % | ||
|
|
WASATCH MICRO CAP VALUE FUND (WAMVX / WGMVX) |
DECEMBER 31, 2020 (UNAUDITED) |
Schedule of Investments
Shares | Value | |||||||
COMMON STOCKS 95.0% | ||||||||
Advertising 1.2% | ||||||||
251,000 | YouGov plc (United Kingdom) |
$ | 3,586,886 | |||||
|
|
|||||||
Air Freight & Logistics 1.1% | ||||||||
568,000 | Radiant Logistics, Inc.* |
3,294,400 | ||||||
|
|
|||||||
Alternative Carriers 0.7% | ||||||||
14,000 | Bandwidth, Inc., Class A* |
2,151,380 | ||||||
|
|
|||||||
Application Software 4.9% | ||||||||
74,471 | Agilysys, Inc.* |
2,858,197 | ||||||
163,000 | eGain Corp.* |
1,925,030 | ||||||
18,000 | Esker S.A. (France) |
3,883,381 | ||||||
57,000 | QAD, Inc., Class A |
3,601,260 | ||||||
183,000 | SharpSpring, Inc.* |
2,979,240 | ||||||
|
|
|||||||
15,247,108 | ||||||||
|
|
|||||||
Asset Management & Custody Banks 1.0% | ||||||||
648,340 | Fiducian Group Ltd. (Australia) |
3,031,516 | ||||||
|
|
|||||||
Auto Parts & Equipment 1.2% | ||||||||
54,000 | Patrick Industries, Inc. |
3,690,900 | ||||||
|
|
|||||||
Biotechnology 3.3% | ||||||||
51,735 | Cytokinetics, Inc.* |
1,075,053 | ||||||
36,000 | Esperion Therapeutics, Inc.* |
936,000 | ||||||
71,798 | Frequency Therapeutics, Inc.* |
2,531,598 | ||||||
85,000 | MacroGenics, Inc.* |
1,943,100 | ||||||
300,000 | MEI Pharma, Inc.* |
792,000 | ||||||
181,000 | Sangamo Therapeutics, Inc.* |
2,824,505 | ||||||
|
|
|||||||
10,102,256 | ||||||||
|
|
|||||||
Communications Equipment 1.3% | ||||||||
219,024 | Digi International, Inc.* |
4,139,554 | ||||||
|
|
|||||||
Construction & Engineering 2.2% | ||||||||
127,000 | Construction Partners, Inc., Class A* |
3,696,970 | ||||||
169,000 | Sterling Construction Co., Inc.* |
3,145,090 | ||||||
|
|
|||||||
6,842,060 | ||||||||
|
|
|||||||
Data Processing & Outsourced Services 5.2% | ||||||||
115,863 | I3 Verticals, Inc., Class A* |
3,846,652 | ||||||
267,000 | Paya Holdings, Inc., Class A* |
3,625,860 | ||||||
553,639 | Paysign, Inc.* |
2,568,885 | ||||||
98,899 | Repay Holdings Corp.* |
2,694,998 | ||||||
699,411 | VIQ Solutions, Inc.* (Canada) |
3,214,356 | ||||||
|
|
|||||||
15,950,751 | ||||||||
|
|
|||||||
Diversified Support Services 1.0% | ||||||||
1,578,000 | Johnson Service Group plc* (United Kingdom) |
3,021,083 | ||||||
|
|
|||||||
Education Services 1.6% | ||||||||
222,000 | Aspen Group, Inc.* |
2,470,860 | ||||||
113,000 | Stride, Inc.* |
2,398,990 | ||||||
|
|
|||||||
4,869,850 | ||||||||
|
|
|||||||
Electronic Components 1.1% | ||||||||
257,000 | VIA Optronics AG, ADR* (Germany) |
3,459,220 | ||||||
|
|
|||||||
Electronic Equipment & Instruments 4.0% | ||||||||
53,000 | FARO Technologies, Inc.* |
3,743,390 | ||||||
357,206 | Luna Innovations, Inc.* |
3,529,195 |
WASATCH MICRO CAP VALUE FUND (WAMVX / WGMVX) |
DECEMBER 31, 2020 (UNAUDITED) |
Schedule of Investments (continued)
Shares | Value | |||||||
192,000 | Napco Security Technologies, Inc.* |
$ | 5,034,240 | |||||
|
|
|||||||
12,306,825 | ||||||||
|
|
|||||||
Electronic Manufacturing Services 1.4% | ||||||||
55,939 | Fabrinet* |
4,340,307 | ||||||
|
|
|||||||
Financial Exchanges & Data 1.8% | ||||||||
158,000 | Open Lending Corp., Class A* |
5,523,680 | ||||||
|
|
|||||||
Health Care Distributors 1.8% | ||||||||
4,872,494 | Ibnsina Pharma S.A.E. (Egypt) |
1,561,180 | ||||||
105,000 | PetIQ, Inc.* |
4,037,250 | ||||||
|
|
|||||||
5,598,430 | ||||||||
|
|
|||||||
Health Care Equipment 3.9% | ||||||||
40,000 | Cantel Medical Corp. |
3,154,400 | ||||||
99,000 | Inmode Ltd.* (Israel) |
4,700,520 | ||||||
92,000 | Tactile Systems Technology, Inc.* |
4,134,480 | ||||||
|
|
|||||||
11,989,400 | ||||||||
|
|
|||||||
Health Care Facilities 2.2% | ||||||||
40,000 | Ensign Group, Inc. (The) |
2,916,800 | ||||||
145,000 | Joint Corp. (The)* |
3,807,700 | ||||||
|
|
|||||||
6,724,500 | ||||||||
|
|
|||||||
Health Care Services 2.8% | ||||||||
38,000 | Addus HomeCare Corp.* |
4,449,420 | ||||||
451,068 | Sharps Compliance Corp.* |
4,262,593 | ||||||
|
|
|||||||
8,712,013 | ||||||||
|
|
|||||||
Health Care Supplies 2.4% | ||||||||
69,422 | BioLife Solutions, Inc.* |
2,769,243 | ||||||
53,000 | OrthoPediatrics Corp.* |
2,186,250 | ||||||
1,159,000 | Surgalign Holdings, Inc.* |
2,538,210 | ||||||
|
|
|||||||
7,493,703 | ||||||||
|
|
|||||||
Health Care Technology 2.6% | ||||||||
61,000 | Nexus AG (Germany) |
3,805,137 | ||||||
141,000 | OptimizeRx Corp.* |
4,393,560 | ||||||
|
|
|||||||
8,198,697 | ||||||||
|
|
|||||||
Heavy Electrical Equipment 1.5% | ||||||||
88,607 | TPI Composites, Inc.* |
4,676,677 | ||||||
|
|
|||||||
Home Furnishings 1.2% | ||||||||
84,000 | Lovesac Co. (The)* |
3,619,560 | ||||||
|
|
|||||||
Homebuilding 3.0% | ||||||||
20,000 | LGI Homes, Inc.* |
2,117,000 | ||||||
228,000 | Skyline Champion Corp.* |
7,054,320 | ||||||
|
|
|||||||
9,171,320 | ||||||||
|
|
|||||||
Human Resource & Employment Services 0.3% | ||||||||
98,968 | Creek & River Co. Ltd. (Japan) |
1,064,309 | ||||||
|
|
|||||||
Industrial Machinery 4.8% | ||||||||
21,000 | John Bean Technologies Corp. |
2,391,270 | ||||||
22,000 | Kadant, Inc. |
3,101,560 | ||||||
53,000 | Kornit Digital Ltd.* (Israel) |
4,723,890 | ||||||
121,000 | va-Q-tec AG* (Germany) |
4,566,554 | ||||||
|
|
|||||||
14,783,274 | ||||||||
|
|
|||||||
Integrated Telecommunication Services 1.2% | ||||||||
259,000 | Ooma, Inc.* |
3,729,600 | ||||||
|
|
WASATCH MICRO CAP VALUE FUND (WAMVX / WGMVX) |
DECEMBER 31, 2020 (UNAUDITED) |
Schedule of Investments (continued)
Shares | Value | |||||||
Internet & Direct Marketing Retail 0.9% | ||||||||
620,000 | Leaf Group Ltd.* |
$ | 2,883,000 | |||||
|
|
|||||||
Internet Services & Infrastructure 1.9% | ||||||||
332,000 | Pivotree, Inc.* (Canada) |
3,440,239 | ||||||
35,000 | Tucows, Inc., Class A* |
2,586,150 | ||||||
|
|
|||||||
6,026,389 | ||||||||
|
|
|||||||
Investment Banking & Brokerage 1.5% | ||||||||
434,000 | JDC Group AG* (Germany) |
4,761,161 | ||||||
|
|
|||||||
IT Consulting & Other Services 1.9% | ||||||||
249,000 | Avant Corp. (Japan) |
2,796,718 | ||||||
40,000 | Endava plc, ADR* (United Kingdom) |
3,070,000 | ||||||
|
|
|||||||
5,866,718 | ||||||||
|
|
|||||||
Leisure Facilities 0.6% | ||||||||
649,000 | Gym Group plc (The)* (United Kingdom) |
1,925,892 | ||||||
|
|
|||||||
Leisure Products 2.2% | ||||||||
216,000 | American Outdoor Brands, Inc.* |
3,678,480 | ||||||
199,185 | Clarus Corp. |
3,067,449 | ||||||
|
|
|||||||
6,745,929 | ||||||||
|
|
|||||||
Mortgage REITs 0.7% | ||||||||
157,000 | Arbor Realty Trust, Inc. |
2,226,260 | ||||||
|
|
|||||||
Movies & Entertainment 1.3% | ||||||||
1,547,953 | Thunderbird Entertainment Group, Inc.* (Canada) |
3,891,468 | ||||||
|
|
|||||||
Office Services & Supplies 0.0% | ||||||||
11,922 | Kimball International, Inc., Class B |
142,468 | ||||||
|
|
|||||||
Packaged Foods & Meats 1.0% | ||||||||
21,000 | Freshpet, Inc.* |
2,981,790 | ||||||
|
|
|||||||
Pharmaceuticals 5.7% | ||||||||
71,230 | AYR Strategies, Inc.* (Canada) |
1,693,842 | ||||||
713,277 | BioDelivery Sciences International, Inc.* |
2,995,764 | ||||||
251,000 | Green Thumb Industries, Inc.* |
6,149,500 | ||||||
85,000 | Intra-Cellular Therapies, Inc.* |
2,703,000 | ||||||
2,825,043 | Vireo Health International, Inc* (Canada) |
4,179,651 | ||||||
|
|
|||||||
17,721,757 | ||||||||
|
|
|||||||
Regional Banks 1.7% | ||||||||
181,000 | Esquire Financial Holdings, Inc.* |
3,473,390 | ||||||
60,728 | Sound Financial Bancorp, Inc. |
1,928,114 | ||||||
|
|
|||||||
5,401,504 | ||||||||
|
|
|||||||
Research & Consulting Services 3.5% | ||||||||
56,815 | ICF International, Inc. |
4,223,059 | ||||||
18,000 | IR Japan Holdings Ltd. (Japan) |
2,883,853 | ||||||
141,000 | Red Violet, Inc.* |
3,681,510 | ||||||
|
|
|||||||
10,788,422 | ||||||||
|
|
|||||||
Semiconductor Equipment 1.3% | ||||||||
57,000 | Nova Measuring Instruments Ltd.* (Israel) |
4,024,200 | ||||||
|
|
|||||||
Semiconductors 2.7% | ||||||||
274,000 | MagnaChip Semiconductor Corp.* |
3,704,480 | ||||||
41,000 | SiTime Corp.* |
4,589,130 | ||||||
|
|
|||||||
8,293,610 | ||||||||
|
|
|||||||
Specialized Finance 0.5% | ||||||||
132,000 | CF Finance Acquisition Corp. II, Class A* |
1,454,640 | ||||||
|
|
WASATCH MICRO CAP VALUE FUND (WAMVX / WGMVX) |
DECEMBER 31, 2020 (UNAUDITED) |
Schedule of Investments (continued)
Shares | Value | |||||||
Specialty Chemicals 1.0% | ||||||||
292,579 | Neo Performance Materials, Inc. (Canada) |
$ | 3,167,365 | |||||
|
|
|||||||
Technology Hardware, Storage & Peripherals 1.0% | ||||||||
54,000 | MGI Digital Graphic Technology* (France) |
3,150,025 | ||||||
|
|
|||||||
Thrifts & Mortgage Finance 2.5% | ||||||||
90,981 | Axos Financial, Inc.* |
3,414,517 | ||||||
366,000 | Mortgage Advice Bureau Holdings Ltd. (United Kingdom) |
4,334,376 | ||||||
|
|
|||||||
7,748,893 | ||||||||
|
|
|||||||
Trading Companies & Distributors 2.4% | ||||||||
168,000 | Hardwoods Distribution, Inc. (Canada) |
3,341,787 | ||||||
9,218 | Lawson Products, Inc.* |
469,288 | ||||||
105,029 | Systemax, Inc. |
3,769,491 | ||||||
|
|
|||||||
7,580,566 | ||||||||
|
|
|||||||
Total Common Stocks (cost $178,123,562) |
294,101,316 | |||||||
|
|
|||||||
CONVERTIBLE PREFERRED STOCKS 0.7% | ||||||||
Oil & Gas Refining & Marketing 0.7% | ||||||||
691,265 | Vertex Energy, Inc., Pfd., 10.00% PIK, Series B*** |
1,942,454 | ||||||
|
|
|||||||
Total Convertible Preferred Stocks (cost $2,047,922) |
1,942,454 | |||||||
|
|
|||||||
LIMITED LIABILITY COMPANY MEMBERSHIP INTEREST 0.0% | ||||||||
Pharmaceuticals 0.0% | ||||||||
50,528 | Regenacy Pharmaceuticals, LLC* *** |
17,685 | ||||||
|
|
|||||||
Total Limited Liability Company Membership Interest (cost $30,001) |
17,685 | |||||||
|
|
|||||||
Principal Amount |
Value | |||||||
SHORT-TERM INVESTMENTS 3.1% | ||||||||
Repurchase Agreement 3.1% | ||||||||
9,660,109 | Repurchase Agreement dated 12/31/20, 0.00% due 1/4/21 with Fixed Income Clearing Corp. collateralized by $9,864,400 of United States Treasury Notes 0.125% due 12/15/23; value: $9,853,381; repurchase proceeds: $9,660,109 (cost $9,660,109) |
$ | 9,660,109 | |||||
|
|
|||||||
Total Short-Term Investments (cost $9,660,109) |
9,660,109 | |||||||
|
|
|||||||
Total Investments (cost $189,861,594) 98.8%§ |
305,721,564 | |||||||
Other Assets less Liabilities 1.2% | 3,833,926 | |||||||
|
|
|||||||
NET ASSETS 100.0% | $ | 309,555,490 | ||||||
|
|
WASATCH MICRO CAP VALUE FUND (WAMVX / WGMVX) |
DECEMBER 31, 2020 (UNAUDITED) |
Schedule of Investments (continued)
*Non-income producing.
***Security was fair valued under procedures adopted by the Board of Trustees (see Note 8).
Security purchased in a private placement transaction or under Rule 144A of the Securities Act of 1933 (see Note 7). The aggregate value of securities purchased in a private placement transaction or under Rule 144A of the Securities Act of 1933 at December 31, 2020, amounted to approximately $1,960,139, and represented 0.63% of net assets.
Affiliated company (see Note 6).
§The aggregate amount of foreign securities fair valued pursuant to a systematic valuation model as a percent of net assets was 4.88%.
ADR American Depositary Receipt.
PIK Payment In Kind.
REIT Real Estate Investment Trust.
See Notes to Schedules of Investments. |
At December 31, 2020, Wasatch Micro Cap Value Funds investments, excluding short-term investments, were in the following countries:
COUNTRY |
% | |||
Australia |
1.0 | |||
Canada |
7.8 | |||
Egypt |
0.5 | |||
France |
2.4 | |||
Germany |
5.6 | |||
Israel |
4.5 | |||
Japan |
2.3 | |||
United Kingdom |
5.4 | |||
United States |
70.5 | |||
|
|
|||
Total |
100.0 | % | ||
|
|
WASATCH SMALL CAP GROWTH FUND (WAAEX / WIAEX) |
DECEMBER 31, 2020 (UNAUDITED) |
Schedule of Investments
Shares | Value | |||||||
COMMON STOCKS 98.2% | ||||||||
Airlines 1.4% | ||||||||
236,989 | Allegiant Travel Co. |
$ | 44,847,798 | |||||
|
|
|||||||
Apparel Retail 1.7% | ||||||||
1,212,613 | Boot Barn Holdings, Inc.* |
52,578,900 | ||||||
|
|
|||||||
Application Software 12.8% | ||||||||
618,428 | Five9, Inc.* |
107,853,843 | ||||||
234,551 | HubSpot, Inc.* |
92,985,398 | ||||||
1,919,934 | Medallia, Inc.* |
63,780,208 | ||||||
398,567 | Paylocity Holding Corp.* |
82,068,931 | ||||||
375,181 | Zendesk, Inc.* |
53,695,905 | ||||||
|
|
|||||||
400,384,285 | ||||||||
|
|
|||||||
Asset Management & Custody Banks 0.8% | ||||||||
606,176 | StepStone Group, Inc., Class A* |
24,125,805 | ||||||
|
|
|||||||
Automotive Retail 1.5% | ||||||||
881,404 | Monro, Inc. |
46,978,833 | ||||||
|
|
|||||||
Biotechnology 6.6% | ||||||||
702,386 | Atara Biotherapeutics, Inc.* |
13,787,837 | ||||||
316,282 | ChemoCentryx, Inc.* |
19,584,182 | ||||||
749,381 | Cytokinetics, Inc.* |
15,572,137 | ||||||
222,326 | Denali Therapeutics, Inc.* |
18,622,026 | ||||||
609,190 | Esperion Therapeutics, Inc.* |
15,838,940 | ||||||
1,274,902 | Flexion Therapeutics, Inc.* |
14,712,369 | ||||||
1,062,704 | Frequency Therapeutics, Inc.* |
37,470,943 | ||||||
1,001,894 | Inovio Pharmaceuticals, Inc.* |
8,866,762 | ||||||
978,019 | MacroGenics, Inc.* |
22,357,514 | ||||||
2,129,110 | Sangamo Therapeutics, Inc.* |
33,224,762 | ||||||
136,927 | Silverback Therapeutics, Inc.* |
6,345,197 | ||||||
|
|
|||||||
206,382,669 | ||||||||
|
|
|||||||
Building Products 1.1% | ||||||||
527,509 | AAON, Inc. |
35,147,925 | ||||||
|
|
|||||||
Data Processing & Outsourced Services 3.8% | ||||||||
491,650 | Euronet Worldwide, Inc.* |
71,249,918 | ||||||
1,681,566 | Repay Holdings Corp.* |
45,822,674 | ||||||
|
|
|||||||
117,072,592 | ||||||||
|
|
|||||||
Electronic Equipment & Instruments 1.1% | ||||||||
1,060,934 | nLight, Inc.* |
34,639,495 | ||||||
|
|
|||||||
Financial Exchanges & Data 1.4% | ||||||||
1,263,300 | Open Lending Corp., Class A* |
44,164,968 | ||||||
|
|
|||||||
General Merchandise Stores 1.8% | ||||||||
701,408 | Ollies Bargain Outlet Holdings, Inc.* |
57,354,132 | ||||||
|
|
|||||||
Health Care Distributors 1.0% | ||||||||
778,211 | PetIQ, Inc.* |
29,922,213 | ||||||
|
|
|||||||
Health Care Equipment 0.8% | ||||||||
1,707,619 | GenMark Diagnostics, Inc.* |
24,931,237 | ||||||
|
|
|||||||
Health Care Facilities 4.1% | ||||||||
1,216,812 | Ensign Group, Inc. (The) |
88,729,931 | ||||||
676,115 | Pennant Group, Inc. (The)* |
39,255,237 | ||||||
|
|
|||||||
127,985,168 | ||||||||
|
|
WASATCH SMALL CAP GROWTH FUND (WAAEX / WIAEX) |
DECEMBER 31, 2020 (UNAUDITED) |
Schedule of Investments (continued)
Shares | Value | |||||||
Health Care Services 1.0% | ||||||||
465,436 | Castle Biosciences, Inc.* |
$ | 31,254,027 | |||||
|
|
|||||||
Health Care Supplies 3.2% | ||||||||
676,773 | Neogen Corp.* |
53,668,099 | ||||||
753,617 | Silk Road Medical, Inc.* |
47,462,799 | ||||||
|
|
|||||||
101,130,898 | ||||||||
|
|
|||||||
Health Care Technology 1.7% | ||||||||
288,044 | Inspire Medical Systems, Inc.* |
54,178,196 | ||||||
|
|
|||||||
Home Furnishings 1.5% | ||||||||
1,425,510 | Purple Innovation, Inc.* |
46,956,299 | ||||||
|
|
|||||||
Home Improvement Retail 2.7% | ||||||||
920,887 | Floor & Decor Holdings, Inc., Class A* |
85,504,358 | ||||||
|
|
|||||||
Homebuilding 2.1% | ||||||||
601,953 | LGI Homes, Inc.* |
63,716,725 | ||||||
|
|
|||||||
Industrial Machinery 8.8% | ||||||||
816,682 | Barnes Group, Inc. |
41,397,611 | ||||||
950,769 | Helios Technologies, Inc. |
50,666,480 | ||||||
1,245,830 | Kornit Digital Ltd.* (Israel) |
111,040,828 | ||||||
404,082 | RBC Bearings, Inc.* |
72,346,841 | ||||||
|
|
|||||||
275,451,760 | ||||||||
|
|
|||||||
Insurance Brokers 1.5% | ||||||||
368,945 | Goosehead Insurance, Inc., Class A |
46,029,578 | ||||||
|
|
|||||||
IT Consulting & Other Services 2.5% | ||||||||
350,349 | Globant S.A.* (Argentina) |
76,239,446 | ||||||
|
|
|||||||
Leisure Facilities 1.1% | ||||||||
447,562 | Planet Fitness, Inc., Class A* |
34,744,238 | ||||||
|
|
|||||||
Leisure Products 1.8% | ||||||||
816,009 | YETI Holdings, Inc.* |
55,872,136 | ||||||
|
|
|||||||
Life Sciences Tools & Services 5.3% | ||||||||
330,683 | ICON plc* (Ireland) |
64,476,571 | ||||||
723,397 | Medpace Holdings, Inc.* |
100,696,863 | ||||||
|
|
|||||||
165,173,434 | ||||||||
|
|
|||||||
Managed Health Care 2.1% | ||||||||
956,240 | HealthEquity, Inc.* |
66,659,490 | ||||||
|
|
|||||||
Oil & Gas Equipment & Services 0.9% | ||||||||
640,608 | DMC Global, Inc. |
27,706,296 | ||||||
|
|
|||||||
Packaged Foods & Meats 3.0% | ||||||||
650,196 | Freshpet, Inc.* |
92,321,330 | ||||||
|
|
|||||||
Pharmaceuticals 1.1% | ||||||||
1,047,514 | Intra-Cellular Therapies, Inc.* |
33,310,945 | ||||||
|
|
|||||||
Regional Banks 1.7% | ||||||||
809,740 | Pinnacle Financial Partners, Inc. |
52,147,256 | ||||||
|
|
|||||||
Restaurants 0.9% | ||||||||
1,108,654 | Chuys Holdings, Inc.* |
29,368,245 | ||||||
|
|
|||||||
Semiconductors 2.9% | ||||||||
247,934 | Monolithic Power Systems, Inc. |
90,800,869 | ||||||
|
|
|||||||
Specialty Stores 3.8% | ||||||||
413,885 | Five Below, Inc.* |
72,421,597 |
WASATCH SMALL CAP GROWTH FUND (WAAEX / WIAEX) |
DECEMBER 31, 2020 (UNAUDITED) |
Schedule of Investments (continued)
Shares | Value | |||||||
1,001,531 | National Vision Holdings, Inc.* |
$ | 45,359,339 | |||||
|
|
|||||||
117,780,936 | ||||||||
|
|
|||||||
Systems Software 7.5% | ||||||||
650,866 | CyberArk Software Ltd.* (Israel) |
105,173,437 | ||||||
301,850 | Proofpoint, Inc.* |
41,175,358 | ||||||
956,600 | Rapid7, Inc.* |
86,247,056 | ||||||
|
|
|||||||
232,595,851 | ||||||||
|
|
|||||||
Trading Companies & Distributors 1.2% | ||||||||
237,498 | SiteOne Landscape Supply, Inc.* |
37,674,308 | ||||||
|
|
|||||||
Total Common Stocks (cost $1,567,940,046) |
3,063,132,641 | |||||||
|
|
|||||||
PREFERRED STOCKS 0.4% | ||||||||
Semiconductor Equipment 0.0% | ||||||||
677,966 | Nanosys, Inc., Series D Pfd.* *** |
1,240,678 | ||||||
161,519 | Nanosys, Inc., Series E Pfd.* *** |
197,053 | ||||||
|
|
|||||||
1,437,731 | ||||||||
|
|
|||||||
Systems Software 0.4% |
||||||||
1,114,610 | DataStax, Inc., Series E Pfd.* *** |
11,937,473 | ||||||
|
|
|||||||
Total Preferred Stocks (cost $10,184,941) |
13,375,204 | |||||||
|
|
|||||||
LIMITED PARTNERSHIP INTEREST 0.0% | ||||||||
Asset Management & Custody Banks 0.0% | ||||||||
1 | Greenspring Global Partners II-B, L.P.* *** |
146,796 | ||||||
1 | Greenspring Global Partners III-B, L.P.* *** |
66,363 | ||||||
|
|
|||||||
213,159 | ||||||||
|
|
|||||||
Total Limited Partnership Interest (cost $1,148,383) |
213,159 | |||||||
|
|
|||||||
Principal Amount |
Value | |||||||
SHORT-TERM INVESTMENTS 1.5% | ||||||||
Repurchase Agreement 1.5% | ||||||||
$45,661,582 | Repurchase Agreement dated 12/31/20, 0.00% due 1/4/21 with Fixed Income Clearing Corp. collateralized by $46,626,900 of United States Treasury Notes 0.125% due 12/15/23; value: $46,574,815; repurchase proceeds: $45,661,582 (cost $45,661,582) |
$ | 45,661,582 | |||||
|
|
|||||||
Total Short-Term Investments (cost $45,661,582) |
45,661,582 | |||||||
|
|
|||||||
Total Investments (cost $1,624,934,952) 100.1% |
3,122,382,586 | |||||||
Liabilities less Other Assets (0.1%) | (4,169,105 | ) | ||||||
|
|
|||||||
NET ASSETS 100.0% |
$ | 3,118,213,481 | ||||||
|
|
WASATCH SMALL CAP GROWTH FUND (WAAEX / WIAEX) |
DECEMBER 31, 2020 (UNAUDITED) |
Schedule of Investments (continued)
*Non-income producing.
***Security was fair valued under procedures adopted by the Board of Trustees (see Note 8).
Security purchased in a private placement transaction or under Rule 144A of the Securities Act of 1933 (see Note 7). The aggregate value of securities purchased in a private placement transaction or under Rule 144A of the Securities Act of 1933 at December 31, 2020, amounted to approximately $13,588,363 and represented 0.44% of net assets.
Affiliated company (see Note 6).
See Notes to Schedules of Investments. |
At December 31, 2020, Wasatch Small Cap Growth Funds investments, excluding short-term investments, were in the following countries:
COUNTRY |
% | |||
Argentina |
2.5 | |||
Ireland |
2.1 | |||
Israel |
7.0 | |||
United States |
88.4 | |||
|
|
|||
Total |
100.0 | % | ||
|
|
WASATCH SMALL CAP VALUE FUND (WMCVX / WICVX) | DECEMBER 31, 2020 (UNAUDITED) |
Schedule of Investments
Shares | Value | |||||||
COMMON STOCKS 98.8% | ||||||||
Advertising 1.0% | ||||||||
3,558,946 | National CineMedia, Inc. |
$ | 13,239,279 | |||||
|
|
|||||||
Aerospace & Defense 1.3% | ||||||||
145,308 | HEICO Corp., Class A |
17,009,755 | ||||||
|
|
|||||||
Airlines 1.2% | ||||||||
85,555 | Allegiant Travel Co. |
16,190,428 | ||||||
|
|
|||||||
Application Software 3.6% | ||||||||
491,931 | Ebix, Inc. |
18,678,620 | ||||||
376,544 | Medallia, Inc.* |
12,508,792 | ||||||
367,690 | Upland Software, Inc.* |
16,873,294 | ||||||
|
|
|||||||
48,060,706 | ||||||||
|
|
|||||||
Asset Management & Custody Banks 3.0% | ||||||||
472,467 | Artisan Partners Asset Management, Inc., Class A |
23,783,989 | ||||||
210,566 | Hamilton Lane, Inc., Class A |
16,434,676 | ||||||
|
|
|||||||
40,218,665 | ||||||||
|
|
|||||||
Auto Parts & Equipment 0.9% | ||||||||
134,798 | Dorman Products, Inc.* |
11,703,162 | ||||||
|
|
|||||||
Automotive Retail 1.8% | ||||||||
448,862 | Monro, Inc. |
23,924,345 | ||||||
|
|
|||||||
Biotechnology 1.2% | ||||||||
256,374 | Esperion Therapeutics, Inc.* |
6,665,724 | ||||||
95,835 | Ligand Pharmaceuticals, Inc.* |
9,530,791 | ||||||
|
|
|||||||
16,196,515 | ||||||||
|
|
|||||||
Building Products 0.9% | ||||||||
142,260 | Trex Co., Inc.* |
11,910,007 | ||||||
|
|
|||||||
Commercial Printing 1.3% | ||||||||
201,322 | Cimpress plc* |
17,663,992 | ||||||
|
|
|||||||
Commodity Chemicals 3.0% | ||||||||
1,725,660 | Valvoline, Inc. |
39,931,772 | ||||||
|
|
|||||||
Construction & Engineering 3.0% | ||||||||
1,382,782 | Construction Partners, Inc., Class A* |
40,252,784 | ||||||
|
|
|||||||
Data Processing & Outsourced Services 4.4% | ||||||||
275,348 | Euronet Worldwide, Inc.* |
39,903,432 | ||||||
690,940 | Repay Holdings Corp.* |
18,828,115 | ||||||
|
|
|||||||
58,731,547 | ||||||||
|
|
|||||||
Diversified Banks 0.7% | ||||||||
3,741,795 | City Union Bank Ltd. (India) |
9,251,107 | ||||||
|
|
|||||||
Electrical Components & Equipment 1.2% | ||||||||
124,193 | Regal Beloit Corp. |
15,252,142 | ||||||
|
|
|||||||
Electronic Equipment & Instruments 1.4% | ||||||||
287,022 | PAR Technology Corp.* |
18,022,111 | ||||||
|
|
|||||||
Electronic Manufacturing Services 4.6% | ||||||||
607,589 | Fabrinet* |
47,142,831 | ||||||
437,289 | Sanmina Corp.* |
13,945,146 | ||||||
|
|
|||||||
61,087,977 | ||||||||
|
|
|||||||
Financial Exchanges & Data 1.6% | ||||||||
605,290 | Open Lending Corp., Class A* |
21,160,938 | ||||||
|
|
WASATCH SMALL CAP VALUE FUND (WMCVX / WICVX) | DECEMBER 31, 2020 (UNAUDITED) |
Schedule of Investments (continued)
Shares | Value | |||||||
General Merchandise Stores 1.0% | ||||||||
158,351 | Ollies Bargain Outlet Holdings, Inc.* |
$ | 12,948,361 | |||||
|
|
|||||||
Health Care Facilities 2.9% | ||||||||
525,096 | Ensign Group, Inc. (The) |
38,290,000 | ||||||
|
|
|||||||
Heavy Electrical Equipment 1.3% | ||||||||
354,084 | AZZ, Inc. |
16,797,745 | ||||||
|
|
|||||||
Home Furnishings 1.3% | ||||||||
387,317 | Lovesac Co. (The)* |
16,689,490 | ||||||
|
|
|||||||
Homebuilding 3.5% | ||||||||
200,409 | LGI Homes, Inc.* |
21,213,293 | ||||||
800,411 | Skyline Champion Corp.* |
24,764,716 | ||||||
|
|
|||||||
45,978,009 | ||||||||
|
|
|||||||
Human Resource & Employment Services 1.1% | ||||||||
162,387 | ManpowerGroup, Inc. |
14,644,060 | ||||||
|
|
|||||||
Industrial Machinery 12.3% | ||||||||
919,483 | Altra Industrial Motion Corp. |
50,966,943 | ||||||
444,822 | Barnes Group, Inc. |
22,548,027 | ||||||
444,555 | Flowserve Corp. |
16,381,852 | ||||||
368,040 | Helios Technologies, Inc. |
19,612,852 | ||||||
379,237 | Kadant, Inc. |
53,464,832 | ||||||
|
|
|||||||
162,974,506 | ||||||||
|
|
|||||||
Industrial REITs 1.5% | ||||||||
1,173,457 | Monmouth Real Estate Investment Corp. |
20,324,275 | ||||||
|
|
|||||||
Internet & Direct Marketing Retail 1.8% | ||||||||
902,787 |
1-800-Flowers.com, Inc., Class A* |
23,472,462 | ||||||
|
|
|||||||
Investment Banking & Brokerage 2.6% | ||||||||
719,990 | Moelis & Co., Class A |
33,666,732 | ||||||
|
|
|||||||
Leisure Products 1.7% | ||||||||
329,704 | YETI Holdings, Inc.* |
22,574,833 | ||||||
|
|
|||||||
Life & Health Insurance 0.9% | ||||||||
518,604 | Unum Group |
11,896,776 | ||||||
|
|
|||||||
Life Sciences Tools & Services 1.1% | ||||||||
73,390 | ICON plc* (Ireland) |
14,309,582 | ||||||
|
|
|||||||
Managed Health Care 1.0% | ||||||||
182,661 | HealthEquity, Inc.* |
12,733,298 | ||||||
|
|
|||||||
Mortgage REITs 1.3% | ||||||||
1,170,067 | Arbor Realty Trust, Inc. |
16,591,550 | ||||||
|
|
|||||||
Office Services & Supplies 0.9% | ||||||||
1,335,913 | ACCO Brands Corp. |
11,288,465 | ||||||
|
|
|||||||
Oil & Gas Equipment & Services 1.1% | ||||||||
531,475 | Cactus, Inc., Class A |
13,855,553 | ||||||
|
|
|||||||
Oil & Gas Exploration & Production 1.5% | ||||||||
2,747,918 | Magnolia Oil & Gas Corp., Class A* |
19,400,301 | ||||||
|
|
|||||||
Packaged Foods & Meats 0.8% | ||||||||
245,128 | TreeHouse Foods, Inc.* |
10,415,489 | ||||||
|
|
|||||||
Personal Products 0.9% | ||||||||
359,318 | Edgewell Personal Care Co. |
12,425,217 | ||||||
|
|
|||||||
Pharmaceuticals 1.1% | ||||||||
455,070 | Intra-Cellular Therapies, Inc.* |
14,471,226 | ||||||
|
|
WASATCH SMALL CAP VALUE FUND (WMCVX / WICVX) | DECEMBER 31, 2020 (UNAUDITED) |
Schedule of Investments (continued)
Shares | Value | |||||||
Regional Banks 7.1% | ||||||||
887,482 | Bank OZK |
$ | 27,751,562 | |||||
347,326 | Eagle Bancorp, Inc. |
14,344,564 | ||||||
596,456 | FB Financial Corp. |
20,714,917 | ||||||
719,104 | Webster Financial Corp. |
30,310,234 | ||||||
|
|
|||||||
93,121,277 | ||||||||
|
|
|||||||
Semiconductor Equipment 1.6% | ||||||||
304,418 | Nova Measuring Instruments Ltd.* (Israel) |
21,491,911 | ||||||
|
|
|||||||
Semiconductors 1.0% | ||||||||
502,812 | Tower Semiconductor Ltd.* (Israel) |
12,982,606 | ||||||
|
|
|||||||
Specialized Consumer Services 1.4% | ||||||||
357,225 | Terminix Global Holdings, Inc.* |
18,222,047 | ||||||
|
|
|||||||
Specialized REITs 2.0% | ||||||||
734,411 | National Storage Affiliates Trust |
26,460,828 | ||||||
|
|
|||||||
Specialty Chemicals 3.5% | ||||||||
242,946 | Innospec, Inc. |
22,042,491 | ||||||
235,205 | Minerals Technologies, Inc. |
14,610,935 | ||||||
135,664 | Sensient Technologies Corp. |
10,007,933 | ||||||
|
|
|||||||
46,661,359 | ||||||||
|
|
|||||||
Technology Hardware, Storage & Peripherals 1.1% | ||||||||
651,583 | Xerox Holdings Corp. |
15,110,210 | ||||||
|
|
|||||||
Thrifts & Mortgage Finance 2.3% | ||||||||
825,483 | Axos Financial, Inc.* |
30,980,377 | ||||||
|
|
|||||||
Trucking 1.1% | ||||||||
344,237 | Knight-Swift Transportation Holdings, Inc. |
14,395,991 | ||||||
|
|
|||||||
Total Common Stocks (cost $941,778,174) |
1,304,981,768 | |||||||
|
|
|||||||
Principal Amount |
Value | |||||||
SHORT-TERM INVESTMENTS 1.1% | ||||||||
Repurchase Agreement 1.1% | ||||||||
$14,776,041 | Repurchase Agreement dated 12/31/20, 0.00% due 1/4/21 with Fixed Income Clearing Corp. collateralized by $15,088,500 of United States Treasury Notes 0.125% due 12/15/23; value: $15,071,645; repurchase proceeds: $14,776,041 (cost $14,776,041) |
$ | 14,776,041 | |||||
|
|
|||||||
Total Short-Term Investments (cost $14,776,041) |
14,776,041 | |||||||
|
|
|||||||
Total Investments (cost $956,554,215) 99.9% |
1,319,757,809 | |||||||
Other Assets less Liabilities 0.1% | 958,951 | |||||||
|
|
|||||||
NET ASSETS 100.0% |
$ | 1,320,716,760 | ||||||
|
|
|||||||
*Non-income producing.
REIT Real Estate Investment Trust.
See Notes to Schedules of Investments. |
WASATCH SMALL CAP VALUE FUND (WMCVX / WICVX) | DECEMBER 31, 2020 (UNAUDITED) |
Schedule of Investments (continued)
At December 31, 2020, Wasatch Small Cap Value Funds investments, excluding short-term investments, were in the following countries:
|
| |||
COUNTRY |
% | |||
India |
0.7 | |||
Ireland |
1.1 | |||
Israel |
2.6 | |||
United States |
95.6 | |||
|
|
|||
Total |
100.0 | % | ||
|
|
WASATCH ULTRA GROWTH FUND (WAMCX / WGMCX) | DECEMBER 31, 2020 (UNAUDITED) |
Schedule of Investments
Shares | Value | |||||||
COMMON STOCKS 93.5% | ||||||||
Alternative Carriers 1.2% | ||||||||
214,738 | Bandwidth, Inc., Class A* |
$ | 32,998,789 | |||||
|
|
|||||||
Application Software 11.6% | ||||||||
144,926 | Avalara, Inc.* |
23,896,848 | ||||||
131,188 | DocuSign, Inc.* |
29,163,092 | ||||||
255,230 | Five9, Inc.* |
44,512,112 | ||||||
116,478 | HubSpot, Inc.* |
46,176,538 | ||||||
1,014,470 | Medallia, Inc.* |
33,700,694 | ||||||
250,603 | Paylocity Holding Corp.* |
51,601,664 | ||||||
2,349,045 | Pexip Holding ASA* (Norway) |
17,994,915 | ||||||
473,579 | Zendesk, Inc.* |
67,778,627 | ||||||
|
|
|||||||
314,824,490 | ||||||||
|
|
|||||||
Automotive Retail 1.1% | ||||||||
747,809 | Camping World Holdings, Inc., Class A |
19,480,424 | ||||||
183,722 | Monro, Inc. |
9,792,383 | ||||||
|
|
|||||||
29,272,807 | ||||||||
|
|
|||||||
Biotechnology 13.3% | ||||||||
748,741 | Atara Biotherapeutics, Inc.* |
14,697,786 | ||||||
453,123 | ChemoCentryx, Inc.* |
28,057,376 | ||||||
696,935 | Cytokinetics, Inc.* |
14,482,309 | ||||||
108,635 | Denali Therapeutics, Inc.* |
9,099,268 | ||||||
1,320,747 | Esperion Therapeutics, Inc.* |
34,339,422 | ||||||
373,966 | Exact Sciences Corp.* |
49,546,755 | ||||||
1,084,475 | Flexion Therapeutics, Inc.* |
12,514,842 | ||||||
1,120,938 | Frequency Therapeutics, Inc.* |
39,524,274 | ||||||
1,713,384 | Inovio Pharmaceuticals, Inc.* |
15,163,449 | ||||||
309,536 | Ligand Pharmaceuticals, Inc.* |
30,783,355 | ||||||
1,273,233 | MacroGenics, Inc.* |
29,106,106 | ||||||
3,447,274 | MEI Pharma, Inc.* |
9,100,803 | ||||||
277,515 | Nkarta, Inc.* |
17,058,847 | ||||||
3,619,329 | Sangamo Therapeutics, Inc.* |
56,479,629 | ||||||
|
|
|||||||
359,954,221 | ||||||||
|
|
|||||||
Building Products 1.2% | ||||||||
395,502 | Trex Co., Inc.* |
33,111,427 | ||||||
|
|
|||||||
Commodity Chemicals 1.0% | ||||||||
1,150,346 | Valvoline, Inc. |
26,619,006 | ||||||
|
|
|||||||
Data Processing & Outsourced Services 2.2% | ||||||||
1,110,773 | Repay Holdings Corp.* |
30,268,564 | ||||||
137,024 | Square, Inc., Class A* |
29,821,904 | ||||||
|
|
|||||||
60,090,468 | ||||||||
|
|
|||||||
Electronic Equipment & Instruments 1.7% | ||||||||
1,438,238 | nLight, Inc.* |
46,958,471 | ||||||
|
|
|||||||
Electronic Manufacturing Services 0.6% | ||||||||
75,925 | IPG Photonics Corp.* |
16,991,256 | ||||||
|
|
|||||||
Financial Exchanges & Data 3.3% | ||||||||
1,685,696 | Open Lending Corp., Class A* |
58,931,932 | ||||||
481,969 | Tradeweb Markets, Inc., Class A |
30,098,964 | ||||||
|
|
|||||||
89,030,896 | ||||||||
|
|
|||||||
General Merchandise Stores 1.3% | ||||||||
439,016 | Ollies Bargain Outlet Holdings, Inc.* |
35,898,338 | ||||||
|
|
WASATCH ULTRA GROWTH FUND (WAMCX / WGMCX) | DECEMBER 31, 2020 (UNAUDITED) |
Schedule of Investments (continued)
Shares | Value | |||||||
Health Care Equipment 6.2% | ||||||||
534,328 | AtriCure, Inc.* |
$ | 29,746,040 | |||||
2,114,867 | CryoLife, Inc.* |
49,932,010 | ||||||
2,078,857 | GenMark Diagnostics, Inc.* |
30,351,312 | ||||||
429,821 | Glaukos Corp.* |
32,348,328 | ||||||
252,639 | Tandem Diabetes Care, Inc.* |
24,172,500 | ||||||
|
|
|||||||
166,550,190 | ||||||||
|
|
|||||||
Health Care Services 2.6% | ||||||||
852,052 | Castle Biosciences, Inc.* |
57,215,292 | ||||||
1,030,265 | Exagen, Inc.* |
13,599,498 | ||||||
|
|
|||||||
70,814,790 | ||||||||
|
|
|||||||
Health Care Supplies 4.2% | ||||||||
768,681 | BioLife Solutions, Inc.* |
30,662,685 | ||||||
2,921,140 | Cerus Corp.* |
20,214,289 | ||||||
978,464 | Silk Road Medical, Inc.* |
61,623,663 | ||||||
|
|
|||||||
112,500,637 | ||||||||
|
|
|||||||
Health Care Technology 3.9% | ||||||||
281,427 | Inspire Medical Systems, Inc.* |
52,933,604 | ||||||
367,199 | Tabula Rasa HealthCare, Inc.* |
15,730,805 | ||||||
132,634 | Veeva Systems, Inc., Class A* |
36,109,607 | ||||||
|
|
|||||||
104,774,016 | ||||||||
|
|
|||||||
Heavy Electrical Equipment 1.1% | ||||||||
552,215 | TPI Composites, Inc.* |
29,145,908 | ||||||
|
|
|||||||
Home Furnishings 1.9% | ||||||||
1,585,331 | Purple Innovation, Inc.* |
52,220,803 | ||||||
|
|
|||||||
Home Improvement Retail 2.2% | ||||||||
636,783 | Floor & Decor Holdings, Inc., Class A* |
59,125,302 | ||||||
|
|
|||||||
Homebuilding 2.3% | ||||||||
294,322 | LGI Homes, Inc.* |
31,153,984 | ||||||
1,002,410 | Skyline Champion Corp.* |
31,014,565 | ||||||
|
|
|||||||
62,168,549 | ||||||||
|
|
|||||||
Industrial Machinery 3.1% | ||||||||
79,125 | John Bean Technologies Corp. |
9,009,964 | ||||||
845,954 | Kornit Digital Ltd.* (Israel) |
75,399,880 | ||||||
|
|
|||||||
84,409,844 | ||||||||
|
|
|||||||
Industrial REITs 0.6% | ||||||||
938,929 | Monmouth Real Estate Investment Corp. |
16,262,250 | ||||||
|
|
|||||||
Insurance Brokers 0.4% | ||||||||
86,876 | Goosehead Insurance, Inc., Class A |
10,838,650 | ||||||
|
|
|||||||
Interactive Media & Services 0.6% | ||||||||
412,273 | MediaAlpha, Inc., Class A* |
16,107,506 | ||||||
|
|
|||||||
Internet & Direct Marketing Retail 1.1% | ||||||||
3,404,582 | Trainline plc* (United Kingdom) |
21,602,766 | ||||||
38,751 | Wayfair, Inc., Class A* |
8,750,364 | ||||||
|
|
|||||||
30,353,130 | ||||||||
|
|
|||||||
IT Consulting & Other Services 2.1% | ||||||||
415,639 | Endava plc ADR* (United Kingdom) |
31,900,293 | ||||||
111,110 | Globant S.A.* (Argentina) |
24,178,647 | ||||||
|
|
|||||||
56,078,940 | ||||||||
|
|
WASATCH ULTRA GROWTH FUND (WAMCX / WGMCX) | DECEMBER 31, 2020 (UNAUDITED) |
Schedule of Investments (continued)
Shares | Value | |||||||
Life Sciences Tools & Services 1.4% | ||||||||
193,292 | ICON plc* (Ireland) |
$ | 37,688,074 | |||||
|
|
|||||||
Managed Health Care 1.8% | ||||||||
697,327 | HealthEquity, Inc.* |
48,610,665 | ||||||
|
|
|||||||
Oil & Gas Equipment & Services 0.2% | ||||||||
738,838 | Solaris Oilfield Infrastructure, Inc., Class A |
6,014,141 | ||||||
|
|
|||||||
Packaged Foods & Meats 2.3% | ||||||||
442,573 | Freshpet, Inc.* |
62,840,940 | ||||||
|
|
|||||||
Pharmaceuticals 2.6% | ||||||||
2,073,592 | Intra-Cellular Therapies, Inc.* |
65,940,226 | ||||||
751,410 | Optinose, Inc.* |
3,110,837 | ||||||
|
|
|||||||
69,051,063 | ||||||||
|
|
|||||||
Regional Banks 2.4% | ||||||||
922,022 | Bank OZK |
28,831,628 | ||||||
357,478 | Eagle Bancorp, Inc. |
14,763,841 | ||||||
376,698 | Esquire Financial Holdings, Inc.* |
7,228,835 | ||||||
197,467 | Pinnacle Financial Partners, Inc. |
12,716,875 | ||||||
|
|
|||||||
63,541,179 | ||||||||
|
|
|||||||
Restaurants 0.4% | ||||||||
440,343 | Chuys Holdings, Inc.* |
11,664,686 | ||||||
|
|
|||||||
Semiconductor Equipment 1.4% | ||||||||
542,083 | Nova Measuring Instruments Ltd.* (Israel) |
38,271,060 | ||||||
|
|
|||||||
Semiconductors 1.6% | ||||||||
111,268 | Monolithic Power Systems, Inc. |
40,749,679 | ||||||
42,910 | NVE Corp. |
2,410,684 | ||||||
|
|
|||||||
43,160,363 | ||||||||
|
|
|||||||
Specialty Chemicals 0.8% | ||||||||
175,111 | Balchem Corp. |
20,176,289 | ||||||
|
|
|||||||
Specialty Stores 2.5% | ||||||||
389,385 | Five Below, Inc.* |
68,134,587 | ||||||
|
|
|||||||
Systems Software 3.8% |
||||||||
362,252 | CyberArk Software Ltd.* (Israel) | 58,536,300 | ||||||
326,214 | Proofpoint, Inc.* |
44,498,852 | ||||||
|
|
|||||||
103,035,152 | ||||||||
|
|
|||||||
Trucking 1.5% | ||||||||
955,680 | Knight-Swift Transportation Holdings, Inc. |
39,966,538 | ||||||
|
|
|||||||
Total Common Stocks (cost $1,565,062,329) |
2,529,255,421 | |||||||
|
|
|||||||
PREFERRED STOCKS 0.0% | ||||||||
Semiconductor Equipment 0.0% | ||||||||
169,492 | Nanosys, Inc., Series D Pfd.* *** |
310,170 | ||||||
40,380 | Nanosys, Inc., Series E Pfd.* *** |
49,264 | ||||||
|
|
|||||||
359,434 | ||||||||
|
|
|||||||
Total Preferred Stocks (cost $546,236) |
359,434 | |||||||
|
|
|||||||
LIMITED PARTNERSHIP INTEREST 0.0% | ||||||||
Asset Management & Custody Banks 0.0% | ||||||||
1 | Greenspring Global Partners II-B, L.P.* *** |
132,113 |
WASATCH ULTRA GROWTH FUND (WAMCX / WGMCX) | DECEMBER 31, 2020 (UNAUDITED) |
Schedule of Investments (continued)
Shares | Value | |||||||
1 | Greenspring Global Partners III-B, L.P.* *** |
$ | 66,363 | |||||
|
|
|||||||
198,476 | ||||||||
|
|
|||||||
Total Limited Partnership Interest (cost $1,037,371) |
198,476 | |||||||
|
|
|||||||
Principal Amount |
Value | |||||||
SHORT-TERM INVESTMENTS 6.7% | ||||||||
Repurchase Agreement 6.7% | ||||||||
$180,276,334 | Repurchase Agreement dated 12/31/20, 0.00% due 1/4/21 with Fixed Income Clearing Corp. collateralized by $184,087,500 of United States Treasury Notes 0.125% due 12/15/23; value: $183,881,865; repurchase proceeds: $180,276,334 (cost $180,276,334) |
$ | 180,276,334 | |||||
|
|
|||||||
Total Short-Term Investments (cost $180,276,334) |
180,276,334 | |||||||
|
|
|||||||
Total Investments (cost $1,746,922,270) 100.2%§ |
2,710,089,665 | |||||||
Liabilities less Other Assets (0.2%) | (4,327,742 | ) | ||||||
|
|
|||||||
NET ASSETS 100.0% |
$ | 2,705,761,923 | ||||||
|
|
|||||||
*Non-income producing.
***Security was fair valued under procedures adopted by the Board of Trustees (see Note 8).
Security purchased in a private placement transaction or under Rule 144A of the Securities Act of 1933 (see Note 7). The aggregate value of securities purchased in a private placement transaction or under Rule 144A of the Securities Act of 1933 at December 31, 2020, amounted to approximately $557,910, and represented 0.02% of net assets.
Affiliated company (see Note 6).
§The aggregate amount of foreign securities fair valued pursuant to a systematic valuation model as a percent of net assets was 0.66%.
ADR American Depositary Receipt.
REIT Real Estate Investment Trust.
See Notes to Schedules of Investments. |
At December 31, 2020, Wasatch Ultra Growth Funds investments, excluding short-term investments, were in the following countries:
COUNTRY |
% | |||
Argentina |
1.0 | |||
Ireland |
1.5 | |||
Israel |
6.8 | |||
Norway |
0.7 | |||
United Kingdom |
2.1 | |||
United States |
87.9 | |||
|
|
|||
Total |
100.0 | % | ||
|
|
WASATCH-HOISINGTON U.S. TREASURY FUND (WHOSX) | DECEMBER 31, 2020 (UNAUDITED) |
Schedule of Investments
Principal Amount |
Value | |||||||
U.S. GOVERNMENT OBLIGATIONS 99.3% | ||||||||
$75,000,000 | U.S. Treasury Bond 1.25%, 5/15/50 |
$ | 68,039,063 | |||||
87,900,000 | U.S. Treasury Bond, 2.25%, 8/15/46 |
100,336,477 | ||||||
35,000,000 | U.S. Treasury Bond, 2.25%, 8/15/49 |
40,054,492 | ||||||
25,150,000 | U.S. Treasury Bond, 2.50%, 2/15/45 |
29,992,357 | ||||||
19,000,000 | U.S. Treasury Bond, 2.875%, 5/15/49 |
24,530,781 | ||||||
45,530,000 | U.S. Treasury Bond, 3.00%, 8/15/48 |
59,895,071 | ||||||
39,800,000 | U.S. Treasury Strip, principal only, 2/15/49 |
24,848,037 | ||||||
105,000,000 | U.S. Treasury Strip, principal only, 5/15/49 |
65,219,159 | ||||||
147,000,000 | U.S. Treasury Strip, principal only, 8/15/49 |
90,631,455 | ||||||
|
|
|||||||
Total U.S. Government Obligations (cost $475,972,625) |
503,546,892 | |||||||
|
|
|||||||
SHORT-TERM INVESTMENTS 0.5% | ||||||||
Repurchase Agreement 0.5% | ||||||||
2,641,948 | Repurchase Agreement dated 12/31/20, 0.00% due 1/4/21 with Fixed Income Clearing Corp. collateralized by $2,697,900 of United States Treasury Notes 0.125% due 12/15/23; value $2,694,886; repurchase proceeds: $2,641,948 (cost $2,641,948) |
$ | 2,641,948 | |||||
|
|
|||||||
Total Short-Term Investments (cost $2,641,948) |
2,641,948 | |||||||
|
|
|||||||
Total Investments (cost $478,614,573) 99.8% |
506,188,840 | |||||||
Other Assets less Liabilities 0.2% | 845,602 | |||||||
|
|
|||||||
NET ASSETS 100.0% |
$ | 507,034,442 | ||||||
|
|
|||||||
See Notes to Schedules of Investments. |
|
WASATCH FUNDS Notes to Financial Statements | DECEMBER 31, 2020 (UNAUDITED) |
1. ORGANIZATION
Wasatch Funds Trust (the Trust) is a Massachusetts business trust registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company and consists of 18 series or funds (each a Fund and collectively the Funds). The Core Growth Fund, Global Opportunities Fund, Global Value Fund, International Growth Fund, International Opportunities Fund, Micro Cap Fund, Micro Cap Value Fund, Small Cap Growth Fund, Small Cap Value Fund, Ultra Growth Fund, and Wasatch-Hoisington U.S. Treasury Fund (U.S. Treasury Fund) (sub-advised) are each a diversified fund. The Emerging India Fund, Emerging Markets Select Fund, Emerging Markets Small Cap Fund, Frontier Emerging Small Countries Fund, Global Select Fund, Greater China Fund and International Select Fund are each a non-diversified fund. Each Fund maintains its own investment objective(s).
On November 9, 2011, the Trust re-designated the shares of the Funds into Investor Class shares effective January 31, 2012, and authorized and designated a new Institutional Class of shares in the Funds. Currently 17 funds offer Institutional Class shares: Core Growth Fund, Global Value Fund and Small Cap Value Fund, which commenced operations on January 31, 2012, Emerging Markets Select Fund, which commenced operations on December 13, 2012 and Emerging India Fund, Emerging Markets Small Cap Fund, Frontier Emerging Small Countries Fund, Global Opportunities Fund, International Growth Fund, International Opportunities Fund and Small Cap Growth Fund, which commenced operations on February 1, 2016, International Select Fund and Global Select Fund, which commenced operations on October 1, 2019, Wasatch Ultra Growth Fund, Wasatch Micro Cap Fund and Wasatch Micro Cap Value Fund, which commenced operations on January 31, 2020, and Wasatch Greater China Fund, which commenced operations on November 30, 2020. Each class of shares for each Fund has identical rights and privileges except with respect to purchase minimums, distribution and service charges, shareholder services, voting rights on matters affecting a single class of shares, and the exchange and conversion features. The Funds have entered into an investment advisory agreement with Wasatch Advisors, Inc., d/b/a Wasatch Global Investors, as investment advisor (the Advisor or Wasatch).
The Core Growth, Emerging India, Emerging Markets Select, Emerging Markets Small Cap, Frontier Emerging Small Countries, Global Opportunities, Global Select, Global Value, Greater China, International Growth, International Opportunities, International Select, Micro Cap, Micro Cap Value, Small Cap Growth, Small Cap Value and Ultra Growth Funds are referred to herein as the Equity Funds.
2. SIGNIFICANT ACCOUNTING POLICIES
The following is a summary of significant policies related to investments of the Funds held at December 31, 2020. These policies are in conformity with accounting principles generally accepted in the United States of America (U.S. GAAP).
Valuation of Securities All investments in securities are recorded at their estimated fair value as described in Note 8.
Foreign Currency Translations Values of investments denominated in foreign currencies are converted into U.S. dollars using the current exchange rates each business day (generally 4:00 p.m. Eastern Time). Purchases and sales of investments and dividend income are translated into U.S. dollars using the current prevailing exchange rate on the transaction date. The effect of changes in foreign exchange rates on realized and unrealized gains or losses on securities is reflected as a component of such gains or losses. Transactions in foreign denominated assets may involve greater risks than domestic transactions.
Investment in Securities and Related Investment Income Security transactions are accounted for on the trade date. Gains or losses on securities sold are determined on the identified cost basis. Dividend income and distributions to shareholders are recorded on the ex-dividend date except that certain dividends from foreign securities may be recorded after the ex-dividend date based on when the Fund is informed of the dividend. Interest income and estimated expenses are accrued daily. Bond discount and premiums are amortized using the interest method. To the extent dividends received include return of capital or capital gain distributions, such distributions are recorded as a reduction to cost of the related security or as realized gain or loss.
For financial purposes the estimate on all REIT rates are based on prior year average rates made public by the REITs. To obtain these rates we utilize a service through Wall Street Concepts which gathers and disseminates the information. Prior to filing the tax returns the REIT rates are trued up for actual rates. The differences between the actual verses the trued-up rates are captured in the next fiscal years financial process.
WASATCH FUNDS Notes to Financial Statements | DECEMBER 31, 2020 (UNAUDITED) |
3. SECURITIES AND OTHER INVESTMENTS
Repurchase Agreements The Funds may engage in repurchase transactions. Under the terms of a typical repurchase agreement, a fund takes possession of an underlying debt obligation subject to an obligation of the seller to repurchase and the fund to resell the obligation at an agreed upon price and time. The market value of the collateral must be at least equal at all times to the total amount of the repurchase obligation, including interest. Generally, in the event of counterparty default, the fund has the right to use the collateral to offset losses incurred.
Participation Notes Certain Funds may invest in Participation Notes (P-Notes). P-Notes are promissory notes that are designed to offer a return linked to the performance of a particular underlying equity security or market. P-Notes are issued by banks or broker-dealers and allow a fund to gain exposure to common stocks in markets in which the fund is currently not approved to directly invest, or in markets that prohibit direct investment by foreign purchasers. While the holder of a P-Note is entitled to receive from the bank or broker-dealer any dividends or other distributions paid on the underlying securities, the holder is not entitled to the same rights as an owner of the underlying securities, such as voting rights. Income received from P-Notes is recorded as dividend income in the Statement of Operations. P-Notes are considered general unsecured contractual obligations of the bank or broker-dealer. Risks associated with P-Notes include the possible failure of a counterparty (i.e., the issuing bank or broker-dealer) to perform in accordance with the terms of the agreement, inability to transfer or liquidate the notes, potential delays or an inability to redeem the notes before maturity under certain market conditions, and limited legal recourse against the issuer of the underlying common stock.
4. FINANCIAL DERIVATIVE INSTRUMENTS
Foreign Currency Contracts The Funds may enter into foreign currency contracts to settle planned purchases or sales of securities or to protect against a possible loss resulting from an adverse change in the relationship between the U.S. dollar and a foreign currency involved in an underlying transaction. Foreign currency contracts are agreements between two parties to buy and sell a currency at a set price on a future date. The market value of a foreign currency contract fluctuates with changes in currency exchange rates. Foreign currency contracts are marked-to-market daily and the change in market value is recorded by a fund as unrealized appreciation or depreciation. When a foreign currency contract is closed, the fund records a realized gain or loss equal to the difference between the value at the time it was opened and the value at the time it was closed. These contracts may involve market risk in excess of the unrealized gain or loss reflected in the Schedule of Investments. In addition, a fund could be exposed to credit risk if a counterparty is unable or unwilling to meet the terms of the contracts or if the value of the currency changes unfavorably. In connection with these contracts, the Funds may segregate cash and/or securities in a sufficient amount as collateral in accordance with the terms of the respective contracts. None of the Funds entered into foreign currency contracts transaction during this period.
5. FEDERAL INCOME TAX INFORMATION
As of December 31, 2020, the cost and unrealized appreciation (depreciation) of securities on a tax basis were as follows:
Core Growth Fund |
Emerging India Fund |
Emerging Markets Select Fund |
Emerging Markets Small Cap Fund |
Frontier Emerging Small Countries Fund |
||||||||||||||||
Cost |
$ | 2,059,977,750 | $ | 232,403,468 | $ | 47,428,084 | $ | 236,479,518 | $ | 45,716,029 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Gross appreciation |
$ | 1,378,890,560 | $ | 152,315,540 | $ | 37,263,866 | $ | 243,398,104 | $ | 21,644,107 | ||||||||||
Gross (depreciation) |
(18,976,673 | ) | (1,239,623 | ) | (618,705 | ) | (16,931,075 | ) | (2,180,401 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Net appreciation |
$ | 1,359,913,887 | $ | 151,075,917 | $ | 36,645,161 | $ | 226,467,029 | $ | 19,463,706 | ||||||||||
|
|
|
|
|
|
|
|
|
|
WASATCH FUNDS Notes to Financial Statements | DECEMBER 31, 2020 (UNAUDITED) |
5. FEDERAL INCOME TAX INFORMATION (continued)
Global Opportunities Fund |
Global Select Fund |
Global Value Fund |
Greater China Fund |
International Growth Fund |
||||||||||||||||
Cost |
$ | 95,819,681 | $ | 12,113,854 | $ | 102,230,259 | $ | 3,242,932 | $ | 687,927,204 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Gross appreciation |
$ | 92,844,848 | $ | 4,561,572 | $ | 21,883,052 | $ | 237,845 | $ | 502,290,913 | ||||||||||
Gross (depreciation) |
(1,727,209 | ) | | (3,441,223 | ) | (41,426 | ) | (9,514,966 | ) | |||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Net appreciation |
$ | 91,117,639 | $ | 4,561,572 | $ | 18,441,829 | $ | 196,419 | $ | 492,775,947 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
International Opportunities Fund |
International Select Fund |
Micro Cap Fund |
Micro Cap Value Fund |
Small Cap Growth Fund |
||||||||||||||||
Cost |
$ | 388,400,627 | $ | 5,537,189 | $ | 758,905,813 | $ | 191,573,614 | $ | 1,634,933,568 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Gross appreciation |
$ | 374,516,341 | $ | 1,354,573 | $ | 468,722,695 | $ | 118,926,843 | $ | 1,503,092,598 | ||||||||||
Gross (depreciation) |
(5,248,240 | ) | (15,340 | ) | (5,295,081 | ) | (4,778,893 | ) | (15,643,580 | ) | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Net appreciation |
$ | 369,268,101 | $ | $1,339,233 | $ | 463,427,614 | $ | 114,147,950 | $ | 1,487,449,018 | ||||||||||
|
|
|
|
|
|
|
|
|
|
|||||||||||
Small Cap Value Fund |
Ultra Growth Fund |
U.S. Treasury Fund |
||||||||||||||||||
Cost |
$ | 964,268,607 | $ | 479,085,214 | $ | 3,242,932 | ||||||||||||||
|
|
|
|
|
|
|||||||||||||||
Gross appreciation |
$ | 363,032,854 | $ | 35,292,014 | $ | 237,845 | ||||||||||||||
Gross (depreciation) |
(7,543,652 | ) | (8,188,388 | ) | (41,426 | ) | ||||||||||||||
|
|
|
|
|
|
|||||||||||||||
Net appreciation |
$ | 355,489,202 | $ | 27,103,626 | $ | 196,419 | ||||||||||||||
|
|
|
|
|
|
The difference between book-basis and tax-basis unrealized gains (losses) is primarily attributable to the tax deferral of losses on wash sales.
6. TRANSACTIONS WITH AFFILIATES
If a Funds holding represents ownership of 5% or more of the voting securities of a company, the company is deemed to be an affiliate as defined by the 1940 Act. The following Funds conducted transactions during the period ended December 31, 2020 with an affiliated company as so defined:
Value, Beginning of the period |
Purchases at Cost |
Proceeds from Sales |
Value, End of the period |
Dividends Credited to Income for the period ended 12/31/2020 |
Gain (Loss) Realized on Sale of Shares for the period ended 12/31/2020 |
Change in Unrealized Appreciation for the period ended 12/31/2020 |
||||||||||||||||||||||
Micro Cap Fund |
|
|||||||||||||||||||||||||||
Common Stock |
|
|||||||||||||||||||||||||||
IM Cannabis Corp. |
$ | 10,206,730 | $ | 1,236,863 | $ | | $ | 24,218,854 | $ | | $ | | $ | 12,775,261 | ||||||||||||||
Transcat, Inc. |
15,971,020 | 4,650,381 | | 23,937,835 | | | 3,316,434 | |||||||||||||||||||||
Warrants |
||||||||||||||||||||||||||||
IM Cannabis Corp - Warrants $1.30 10/10/2021 |
356,271 | | | 2,228,666 | | | 1,872,395 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
$ | 26,534,021 | $ | 5,887,244 | $ | | $ | 50,385,355 | $ | | $ | | $ | 17,964,090 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Small Cap Growth Fund |
||||||||||||||||||||||||||||
Common Stock |
||||||||||||||||||||||||||||
Chuys Holdings Inc. |
$ | 22,322,336 | $ | | $ | 785,941 | $ | 29,368,244 | $ | | $ | (297,221 | ) | $ | 8,129,070 | |||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Ultra Growth Fund |
||||||||||||||||||||||||||||
Common Stock |
||||||||||||||||||||||||||||
Exagen Inc. |
$ | 10,092,300 | $ | 1,192,877 | $ | | $ | 13,599,498 | $ | | $ | | $ | 2,314,321 | ||||||||||||||
CryoLife Inc. |
31,456,959 | 9,006,144 | | 49,932,010 | | | 9,468,907 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
$ | 41,549,259 | $ | 10,199,021 | $ | | $ | 63,531,508 | $ | | $ | | $ | 11,783,228 | |||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Micro Cap Value Fund |
||||||||||||||||||||||||||||
Common Stock |
||||||||||||||||||||||||||||
Vireo Health International Inc. |
$ | 553,582 | $ | 2,686,388 | $ | | $ | 4,179,651 | $ | | $ | | $ | 939,681 | ||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
WASATCH FUNDS Notes to Financial Statements | DECEMBER 31, 2020 (UNAUDITED) |
6. TRANSACTIONS WITH AFFILIATES (continued)
Share Activity | Dividends Credited to Income for the |
Gain (Loss) Realized on Sale of Shares for the |
Change in Unrealized Appreciation for the |
|||||||||||||||||||||||||
Balance 9/30/2020 |
Purchases/ Additions |
Sales/ Reductions |
Balance 12/31/2020 |
period ended 12/31/2020 |
period ended 12/31/2020 |
period ended 12/31/2020 |
||||||||||||||||||||||
Micro Cap Fund |
|
|||||||||||||||||||||||||||
Common Stock |
||||||||||||||||||||||||||||
IM Cannabis Corp |
11,325,643 | 956,500 | | 12,282,143 | $ | | $ | | $ | 12,775,261 | ||||||||||||||||||
Transcat, Inc. |
545,086 | 145,163 | | 690,249 | | 3,316,434 | ||||||||||||||||||||||
Warrants |
||||||||||||||||||||||||||||
IM Cannabis Corp - Warrants $1.30 10/10/2021 |
1,897,571 | | | 1,897,571 | | | 1,872,395 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
13,768,300 | 1,101,663 | | 14,869,963 | $ | | $ | | $ | 17,964,090 | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Small Cap Growth Fund |
||||||||||||||||||||||||||||
Common Stock |
||||||||||||||||||||||||||||
Chuys Holdings Inc. |
1,140,058 | | 31,404 | 1,108,654 | $ | | $ | (297,221 | ) | $ | 8,129,070 | |||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Ultra Growth Fund |
||||||||||||||||||||||||||||
Common Stock |
||||||||||||||||||||||||||||
Exagen Inc. |
931,024 | 99,241 | | 1,030,265 | $ | | $ | | $ | 2,314,321 | ||||||||||||||||||
CryoLife Inc. |
1,703,138 | 411,729 | | 2,114,867 | | | 9,468,907 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
2,634,162 | 510,970 | | 3,145,132 | $ | | $ | | $ | 11,783,228 | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Micro Cap Value Fund |
||||||||||||||||||||||||||||
Common Stock |
||||||||||||||||||||||||||||
Vireo Health International Inc. |
532,341 | 2,292,702 | | 2,825,043 | $ | | $ | | $ | 939,681 | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7. RESTRICTED SECURITIES
The Funds may own investments that were purchased through private placement transactions or under Rule 144A of the Securities Act of 1933 (the Securities Act) and cannot be sold without prior registration under the Securities Act or may be limited due to certain restrictions. These securities are generally deemed to be illiquid and are valued at fair value as determined by a designated Pricing Committee of the Advisor (Pricing Committee), comprised of personnel of the Advisor, with oversight by the Board of Trustees and in accordance with Board-approved Pricing Policies and Procedures. If and when such securities are registered, the costs of registering such securities are paid by the issuer. At December 31, 2020, the Funds held the following restricted securities.
Security Type |
Acquisition Date |
Cost | Fair Value |
Value as a Percent of Net Assets |
||||||||||||||||
Micro Cap Fund |
||||||||||||||||||||
C21 Investments, Inc., expiring 12/31/2023# |
Warrants | 12/31/2020 | $ | | $ | 891,545 | 0.07 | % | ||||||||||||
Micro Cap Value Fund |
||||||||||||||||||||
Regenacy Pharmaceuticals, LLC |
|
LLC Membership Interest |
|
12/21/16 | $ | 30,001 | $ | 17,685 | 0.01 | % | ||||||||||
Vertex Energy, Inc., Pfd., 10.00% PIK Series B |
|
Convertible Preferred Stock |
|
6/22/15 10/29/20 | 2,047,922 | 1,942,454 | 0.70 | % | ||||||||||||
$ | 2,077,923 | $ | 1,960,139 | 0.71 | % | |||||||||||||||
Small Cap Growth Fund |
||||||||||||||||||||
DataStax, Inc. - Series E |
Preferred Stock | 8/12/2014 | $ | 8,000,002 | $ | 11,937,473 | 0.40 | % | ||||||||||||
Greenspring Global Partners II-B, L.P. |
LP Interest | 10/10/03 3/31/17 | 1,141,197 | 146,796 | 0.01 | % | ||||||||||||||
Greenspring Global Partners III-B, L.P. |
LP Interest | 3/16/06 6/29/17 | 7,186 | 66,363 | 0.00 | % | ||||||||||||||
Nanosys, Inc., Series D Pfd. |
Preferred Stock | 11/8/2005 | 2,000,000 | 1,240,678 | 0.04 | % | ||||||||||||||
Nanosys, Inc., Series E Pfd. |
Preferred Stock | 8/13/2010 | 184,939 | 197,053 | 0.01 | % | ||||||||||||||
|
|
|
|
|
|
|||||||||||||||
$ | 11,333,324 | $ | 13,588,363 | 0.46 | % | |||||||||||||||
Ultra Growth Fund |
||||||||||||||||||||
Greenspring Global Partners II-B, L.P. |
LP Interest | 10/10/03 3/31/17 | $ | 1,029,173 | $ | 132,113 | 0.00 | % | ||||||||||||
Greenspring Global Partners III-B, L.P. |
LP Interest | 3/16/06 6/29/17 | 8,198 | 66,363 | 0.00 | % | ||||||||||||||
Nanosys, Inc., Series D Pfd. |
Preferred Stock | 11/8/05 | 500,001 | 310,170 | 0.022 | |||||||||||||||
Nanosys, Inc., Series E Pfd. |
Preferred Stock | 8/13/10 | 46,235 | 49,263 | 0.00 | % | ||||||||||||||
|
|
|
|
|
|
|||||||||||||||
$ | 1,583,607 | $ | 557,909 | 0.02 | % |
WASATCH FUNDS Notes to Financial Statements | DECEMBER 31, 2020 (UNAUDITED) |
8. FAIR VALUE MEASUREMENTS AND INVESTMENTS
The fair value of a financial instrument is the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The Funds use various methods to measure the fair value of their investments on a recurring basis. U.S. GAAP established a hierarchy that prioritizes inputs to valuation methods. The three levels of inputs are:
| Level 1 Unadjusted quoted prices in active markets for identical assets or liabilities that the Funds have the ability to access. |
| Level 2 Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. The inputs may include quoted prices for the identical investment on an inactive market, prices for similar investments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data. |
| Level 3 Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Funds own assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available. |
The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, whether a security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3.
Equity Securities (common and preferred stock) Securities are valued as of the close of the New York Stock Exchange (NYSE) (generally 4:00 p.m. Eastern Time) on the valuation date. Equity securities and listed warrants are valued using a commercial pricing service at the last quoted sales price taken from the primary market in which each security trades and, with respect to equity securities traded on the National Association of Securities Dealer Automated Quotation (NASDAQ) system, such securities are valued using the NASDAQ Official Closing Price (NOCP) or last sales price if no NOCP is available. If there are no sales on the primary exchange or market on a day, then the security shall be valued at the mean of the last bid and ask price on the primary exchange or market as provided by a pricing service. If the mean cannot be calculated or there is no trade activity on a day, then the security shall be valued at the previous trading days price as provided by a pricing service. In some instances, particularly on foreign exchanges, an official close or evaluated price may be used if the pricing service is unable to provide the last trade or most recent mean price. To the extent that these securities are actively traded and valuation adjustments are not applied, they are categorized in Level 1 of the fair value hierarchy. Additionally, a Funds investments are valued at fair value by the Pricing Committee if the Advisor determines that an event impacting the value of an investment occurred between the closing time of a securitys primary market or exchange (for example, a foreign exchange or market) and the time the Funds share price is calculated. Significant events include, but are not limited to the following: significant fluctuations in domestic markets, foreign markets or foreign currencies; occurrences not directly tied to the securities markets such as natural disasters, armed conflicts or significant governmental actions; and major announcements affecting a single issuer or an entire market or market sector. In responding to a significant event, the Pricing Committee determines the fair value of affected securities by considering factors including, but not limited to: index options and futures traded subsequent to the close; American Depositary Receipts (ADRs), Global Depositary Receipts (GDRs) or other related receipts; currency spot or forward markets that trade after pricing of the foreign exchange; other derivative securities traded after the close such as Standard & Poors Depositary Receipts (SPDRs) and other exchange-traded funds (ETFs); and alternative market quotes on the affected securities. When applicable, the Funds use a systematic fair valuation model provided by an independent third party to assist in adjusting the valuation of foreign securities. When a Fund uses this fair value pricing method, the values assigned to the Funds foreign securities may not be the quoted or published prices of the investments on their primary markets or exchanges, and the securities are categorized in Level 2 of the fair value hierarchy. These valuation procedures apply equally to long or short equity positions in a Fund.
WASATCH FUNDS Notes to Financial Statements | DECEMBER 31, 2020 (UNAUDITED) |
8. FAIR VALUE MEASUREMENTS AND INVESTMENTS (continued)
Participation Notes Investments are valued at the market price of the underlying security. Counterparty risk is regularly reviewed and considered for valuation. To the extent the inputs are observable and timely, the values would be categorized in Level 2 of the fair value hierarchy.
Corporate Debt Securities Investments are valued at current market value by a pricing service, or by using the last sale or bid price based on observable inputs. Observable inputs may include benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers and reference data including market research publications. Although most corporate bonds are categorized in Level 2 of the fair value hierarchy, in instances where observable inputs are not available, they are categorized as Level 3.
Short-Term Notes Investments maturing in 60 days or less at the time of purchase, are generally valued at amortized cost, unless it is determined that the amortized cost method would not represent fair value, in which case the securities are marked-to-market. To the extent the inputs are observable and timely, the values would be categorized in Level 2 of the fair value hierarchy.
Asset-Backed Securities Investments are priced using the closing bid as supplied by a pricing service based on observable inputs. Observable inputs may include benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers and reference data including market research publications, new issue data, monthly payment information and collateral performance. Although most asset-backed securities are categorized in Level 2 of the fair value hierarchy, in instances where observable inputs are not available, they are categorized as Level 3.
U.S. Government Issuers Investments are priced using the closing bid as supplied by a pricing service based on observable inputs. Observable inputs may include benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers and reference data including market research publications. Although most U.S. government securities are categorized in Level 2 of the fair value hierarchy, in instances where observable inputs are not available, they are categorized as Level 3.
Derivative Instruments Listed derivatives that are actively traded are valued based on quoted prices from the exchange and categorized in Level 1 of the fair value hierarchy. Exchange-traded options are valued at the last sale price in the market where they are principally traded. If there are no sales on the primary exchange or market on a given day, then the option is valued at the mean of the last bid price and ask price on the primary exchange or market as provided by a pricing service. Forward foreign currency contracts are valued at the market rate provided by the pricing service and categorized as Level 2.
Restricted Securities If market quotations are not readily available for the Funds investments in securities such as restricted securities, private placements, securities for which trading has been halted or other illiquid securities, these investments are valued at fair value in accordance with Board-approved Pricing Policies and Procedures by the Pricing Committee with oversight by the Board of Trustees. Fair value is defined as the price that would be received upon the sale of an asset, or paid to transfer a liability, in an orderly transaction between market participants at the measurement date under current market conditions. For each applicable investment that is fair valued, the Pricing Committee considers, to the extent applicable, various factors including, but not limited to, the financial condition of the company or limited partnership, operating results, prices paid in follow-on rounds, comparable companies in the public market, the nature and duration of the restrictions for holding the securities, a stated net asset value (NAV) for the partnership, if applicable, and other relevant factors. Depending on the relative significance of valuation inputs, these instruments may be classified in either Level 2 or Level 3 of the fair value hierarchy.
When the last day of the reporting period is a non-business day, certain foreign markets may be open on days the NYSE is closed, which could result in differences between the value of a Funds portfolio securities on the last business day and the last calendar day of the reporting period. Any significant security valuation changes due to an open foreign market are adjusted and reflected by the Fund for financial reporting purposes.
WASATCH FUNDS Notes to Financial Statements | DECEMBER 31, 2020 (UNAUDITED) |
8. FAIR VALUE MEASUREMENTS AND INVESTMENTS (continued)
The following is a summary of the fair valuations according to the inputs used as of December 31, 2020 in valuing the Funds assets and liabilities:
Fund |
Category | Quoted Prices in Active Markets for Identical Investments (Level 1) |
Significant Other Observable Inputs (Level 2) |
Significant Unobservable Inputs (Level 3) |
Value at 9/30/20 |
|||||||||||||||
Core Growth Fund |
|
|||||||||||||||||||
Assets |
||||||||||||||||||||
Common Stocks |
||||||||||||||||||||
Diversified Banks | $ | | $ | 23,049,130 | $ | | $ | 23,049,130 | ||||||||||||
Other | 3,370,747,615 | | | 3,370,747,615 | ||||||||||||||||
Short-Term Investments |
| 26,094,892 | | 26,094,892 | ||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
$ | 3,370,747,615 | $ | 49,144,022 | $ | | $ | 3,419,891,637 | |||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
Emerging India Fund |
||||||||||||||||||||
Assets |
||||||||||||||||||||
Common Stocks |
||||||||||||||||||||
Diversified Banks | $ | 45,409,933 | $ | 4,430,304 | $ | | $ | 49,840,237 | ||||||||||||
Other | 327,020,861 | | | 327,020,861 | ||||||||||||||||
Short-Term Investments |
| 6,618,287 | | 6,618,287 | ||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
$ | 372,430,794 | $ | 11,048,591 | $ | | $ | 383,479,385 | |||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
Emerging Markets Select Fund |
|
|||||||||||||||||||
Assets |
||||||||||||||||||||
Common Stocks |
||||||||||||||||||||
Diversified Banks | $ | 5,894,274 | $ | 1,344,266 | $ | | $ | 7,238,540 | ||||||||||||
Drug Retail | | 2,321,481 | | 2,321,481 | ||||||||||||||||
|
Electrical Components & Equipment |
|
3,624,873 | 1,464,879 | 5,089,752 | |||||||||||||||
|
General Merchandise Stores |
|
| 2,327,093 | | 2,327,093 | ||||||||||||||
Managed Health Care | | 1,107,821 | | 1,107,821 | ||||||||||||||||
Personal Products | | 868,649 | | 868,649 | ||||||||||||||||
Semiconductor Equipment | | 1,115,042 | | 1,115,042 | ||||||||||||||||
Other | 61,431,348 | | | 61,431,348 | ||||||||||||||||
Preferred Stocks |
| 1,023,810 | | 1,023,810 | ||||||||||||||||
Short-Term Investments |
| 1,549,709 | | 1,549,709 | ||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
$ | 70,950,495 | $ | 13,122,750 | $ | | $ | 84,073,245 | |||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
Emerging Markets Small Cap Fund |
|
|||||||||||||||||||
Assets |
||||||||||||||||||||
Common Stocks |
||||||||||||||||||||
Consumer Finance | $ | 28,407,277 | $ | 9,455,709 | $ | | $ | 37,862,986 | ||||||||||||
Drug Retail | 4,851,969 | 13,438,420 | | 18,290,389 | ||||||||||||||||
General Merchandise Stores | | 20,981,063 | | 20,981,063 | ||||||||||||||||
|
Home Improvement Retail |
|
| 5,092,586 | | 5,092,586 | ||||||||||||||
Insurance Brokers | | 7,960,842 | | 7,960,842 | ||||||||||||||||
Pharmaceuticals | | | 16,791 | 16,791 | ||||||||||||||||
Regional Banks | 19,066,960 | 9,126,368 | | 28,193,328 | ||||||||||||||||
Semiconductors | 50,029,180 | 11,433,182 | | 61,462,362 | ||||||||||||||||
Systems Software | | 6,949,408 | | 6,949,408 | ||||||||||||||||
Other | 265,338,656 | | | 265,338,656 | ||||||||||||||||
Preferred Stocks |
| 7,079,506 | | 7,079,506 | ||||||||||||||||
Warrants |
32,563 | | | 32,563 | ||||||||||||||||
Short-Term Investments |
| 3,686,067 | | 3,686,067 | ||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
$ | 367,726,605 | $ | 95,203,151 | $ | 16,791 | $ | 462,946,547 | |||||||||||||
|
|
|
|
|
|
|
|
WASATCH FUNDS Notes to Financial Statements | DECEMBER 31, 2020 (UNAUDITED) |
8. FAIR VALUE MEASUREMENTS AND INVESTMENTS (continued)
Fund |
Category | Quoted Prices in Active Markets for Identical Investments (Level 1) |
Significant Other Observable Inputs (Level 2) |
Significant Unobservable Inputs (Level 3) |
Value at 9/30/20 |
|||||||||||||||
Frontier Emerging Small Countries Fund |
|
|||||||||||||||||||
Assets |
||||||||||||||||||||
Common Stocks |
||||||||||||||||||||
|
Asset Management & Custody Banks |
|
$ | | $ | 2,835,987 | $ | | $ | 2,835,987 | ||||||||||
Consumer Finance | 7,132,959 | 1,294,010 | | 8,426,969 | ||||||||||||||||
Diversified Banks | 5,219,054 | 1,990,133 | | 7,209,187 | ||||||||||||||||
Drug Retail | | 1,829,573 | | 1,829,573 | ||||||||||||||||
|
Electrical Components & Equipment |
|
| 982,905 | | 982,905 | ||||||||||||||
Food Retail | 986,479 | 1,262,209 | | 2,248,688 | ||||||||||||||||
General Merchandise Stores | | 1,970,812 | | 1,970,812 | ||||||||||||||||
Home Improvement Retail | | 761,762 | | 761,762 | ||||||||||||||||
Insurance Brokers | | 1,981,981 | | 1,981,981 | ||||||||||||||||
Regional Banks | 3,199,182 | 876,393 | | 4,075,575 | ||||||||||||||||
Other | 29,318,047 | | | 29,318,047 | ||||||||||||||||
Preferred Stocks |
| 2,657,969 | | 2,657,969 | ||||||||||||||||
Warrants |
5,657 | | | 5,657 | ||||||||||||||||
Short-Term Investments |
| 874,623 | | 874,623 | ||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
$ | 45,861,378 | $ | 19,318,357 | $ | | $ | 65,179,735 | |||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
Global Opportunities Fund |
|
|||||||||||||||||||
Assets |
||||||||||||||||||||
Common Stocks |
||||||||||||||||||||
Application Software | $ | 20,579,540 | $ | 2,792,983 | $ | | $ | 23,372,523 | ||||||||||||
Consumer Finance | 5,456,650 | 1,641,134 | | 7,097,784 | ||||||||||||||||
|
Data Processing & Outsourced Services |
|
3,239,832 | 2,497,378 | | 5,737,210 | ||||||||||||||
|
Diversified Real Estate Activities |
|
| 3,299,759 | 3,299,759 | |||||||||||||||
Drug Retail | | 3,559,429 | | 3,559,429 | ||||||||||||||||
Health Care Supplies | | 1,592,503 | | 1,592,503 | ||||||||||||||||
Health Care Technology | | 2,942,155 | | 2,942,155 | ||||||||||||||||
Industrial Machinery | 11,532,449 | 1,949,942 | | 13,482,391 | ||||||||||||||||
|
Other Diversified Financial Services |
|
| 1,269,050 | | 1,269,050 | ||||||||||||||
|
Research & Consulting Services |
|
| 2,340,563 | | 2,340,563 | ||||||||||||||
|
Trading Companies & Distributors |
|
5,108,898 | 1,914,739 | | 7,023,637 | ||||||||||||||
Other | 112,605,336 | | | 112,605,336 | ||||||||||||||||
Warrants |
10,227 | | | 10,227 | ||||||||||||||||
Short-Term Investments |
| 2,604,753 | | 2,604,753 | ||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
$ | 158,532,932 | $ | 28,404,388 | $ | | $ | 186,937,320 | |||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
Global Select Fund |
|
|||||||||||||||||||
Assets |
||||||||||||||||||||
Common Stocks |
||||||||||||||||||||
Building Products | $ | | $ | 645,848 | $ | | $ | 645,848 | ||||||||||||
Drug Retail | | 511,933 | | 511,933 | ||||||||||||||||
Health Care Supplies | | 978,936 | | 978,936 | ||||||||||||||||
Industrial Machinery | | 502,258 | 502,258 | |||||||||||||||||
Specialty Chemicals | | 460,092 | | 460,092 | ||||||||||||||||
Others | 12,978,920 | | | 12,978,920 | ||||||||||||||||
Short-Term Investments | | 597,439 | | 597,439 | ||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
$ | 12,978,920 | $ | 3,696,506 | $ | | $ | 16,675,426 | |||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
Global Value Fund |
|
|||||||||||||||||||
Assets |
||||||||||||||||||||
Common Stocks |
||||||||||||||||||||
Airlines | $ | 1,508,000 | $ | 1,253,480 | $ | | $ | 2,761,480 | ||||||||||||
Construction Materilas | | 2,084,754 | | 2,084,754 | ||||||||||||||||
Diversified Banks | 14,052,375 | 2,188,410 | | 16,240,785 | ||||||||||||||||
Food Retail | 2,357,400 | 4,143,036 | | 6,500,436 | ||||||||||||||||
Pharmaceuticals | 4,878,780 | 3,860,473 | | 8,739,253 | ||||||||||||||||
Reinsurance | | 3,268,389 | | 3,268,389 | ||||||||||||||||
|
Technology Hardware, Storage & Peripherals |
|
2,087,100 | 3,808,449 | | 5,895,549 | ||||||||||||||
Tobacco | | 3,445,451 | | 3,445,451 | ||||||||||||||||
Other | 68,684,026 | | | 68,684,026 | ||||||||||||||||
Short-Term Investments |
| 3,051,965 | | 3,051,965 | ||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
$ | 93,567,681 | $ | 27,104,407 | $ | | $ | 120,672,088 | |||||||||||||
|
|
|
|
|
|
|
|
WASATCH FUNDS Notes to Financial Statements | DECEMBER 31, 2020 (UNAUDITED) |
8. FAIR VALUE MEASUREMENTS AND INVESTMENTS (continued)
Fund |
Category | Quoted Prices in Active Markets for Identical Investments (Level 1) |
Significant Other Observable Inputs (Level 2) |
Significant Unobservable Inputs (Level 3) |
Value at 9/30/20 |
|||||||||||||||
Greater China Fund |
|
|||||||||||||||||||
Assets |
||||||||||||||||||||
Common Stocks |
$ | 3,390,364 | $ | | $ | | $ | 3,390,364 | ||||||||||||
Exchange-Traded Fund |
48,987 | | | 48,987 | ||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
$ | 3,439,351 | $ | | $ | | $ | 3,439,351 | |||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
International Growth Fund |
|
|||||||||||||||||||
Assets |
||||||||||||||||||||
Common Stocks |
||||||||||||||||||||
Application Software | $ | 58,746,018 | $ | 39,065,077 | $ | | $ | 97,811,095 | ||||||||||||
Brewers | | 15,917,359 | | 15,917,359 | ||||||||||||||||
|
Data Processing & Outsourced Services |
|
| 21,111,556 | | 21,111,556 | ||||||||||||||
|
Diversified Real Estate Activities |
|
| 23,566,744 | | 23,566,744 | ||||||||||||||
Diversified Support Services | 8,179,398 | 9,205,534 | | 17,384,932 | ||||||||||||||||
Drug Retail | 6,220,531 | 48,376,679 | | 54,597,210 | ||||||||||||||||
Health Care Equipment | 10,886,183 | 24,747,111 | | 35,633,294 | ||||||||||||||||
Health Care Supplies | 5,713,254 | 25,649,170 | | 31,362,424 | ||||||||||||||||
Health Care Technology | | 24,681,667 | | 24,681,667 | ||||||||||||||||
Home Improvement Retail | | 6,112,564 | | 6,112,564 | ||||||||||||||||
|
Human Resource & Employment Services |
|
| 25,189,613 | | 25,189,613 | ||||||||||||||
Industrial Machinery | 12,085,405 | 12,330,428 | | 24,415,833 | ||||||||||||||||
Insurance Brokers | | 12,091,981 | | 12,091,981 | ||||||||||||||||
Interactive Media & Services | 31,999,001 | 14,420,275 | | 46,419,276 | ||||||||||||||||
|
IT Consulting & Other Services |
|
58,030,489 | 18,989,748 | | 77,020,237 | ||||||||||||||
Movies & Entertainment | | 19,918,103 | | 19,918,103 | ||||||||||||||||
|
Other Diversified Financial Services |
|
| 13,483,581 | | 13,483,581 | ||||||||||||||
Packaged Foods & Meats | 13,733,537 | 10,078,052 | | 23,811,589 | ||||||||||||||||
Pharmaceuticals | | 8,458,356 | | 8,458,356 | ||||||||||||||||
Regional Banks | 36,808,299 | 14,985,119 | | 51,793,418 | ||||||||||||||||
|
Research & Consulting Services |
|
| 35,397,600 | | 35,397,600 | ||||||||||||||
Semiconductors | 36,253,865 | 15,622,767 | | 51,876,632 | ||||||||||||||||
Specialty Chemicals | | 10,989,808 | | 10,989,808 | ||||||||||||||||
Systems Software | 18,695,801 | 10,343,872 | | 29,039,673 | ||||||||||||||||
|
Trading Companies & Distributors |
|
72,725,011 | 14,684,265 | | 87,409,276 | ||||||||||||||
Other | 319,374,862 | | | 319,374,862 | ||||||||||||||||
Short-Term Investments |
| 15,834,468 | | 15,834,468 | ||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
$ | 689,451,654 | $ | 491,251,497 | $ | | $ | 1,180,703,151 | |||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
International Opportunities Fund |
|
|||||||||||||||||||
Assets |
||||||||||||||||||||
Common Stocks |
||||||||||||||||||||
Alternative Carriers | $ | 10,244,644 | $ | 4,443,564 | $ | | $ | 14,688,208 | ||||||||||||
Application Software | 72,567,673 | 91,162,378 | | 163,730,051 | ||||||||||||||||
Brewers | | 4,921,103 | | 4,921,103 | ||||||||||||||||
|
Data Processing & Outsourced Services |
|
10,893,744 | 9,897,875 | | 20,791,619 | ||||||||||||||
Diversified Banks | | 9,992,238 | 9,992,238 | |||||||||||||||||
Diversified Support Services | 11,910,885 | 30,043,172 | | 41,954,057 | ||||||||||||||||
Drug Retail | | 9,490,405 | | 9,490,405 | ||||||||||||||||
|
Electronic Equipment & Instruments |
|
| 4,447,607 | | 4,447,607 | ||||||||||||||
Health Care Equipment | 7,167,138 | 11,476,754 | | 18,643,892 | ||||||||||||||||
Health Care Technology | 10,448,538 | 16,874,164 | | 27,322,702 | ||||||||||||||||
Home Improvement Retail | | 5,284,754 | | 5,284,754 | ||||||||||||||||
|
Human Resource & Employment Services |
|
7,274,429 | 6,893,464 | | 14,167,893 | ||||||||||||||
Insurance Brokers | | 12,689,060 | | 12,689,060 | ||||||||||||||||
Interactive Media & Services | | 420,855 | | 420,855 | ||||||||||||||||
|
Internet Servicess & Infrastructure |
|
| 17,228,865 | 17,228,865 | |||||||||||||||
|
IT Consulting & Other Services |
|
14,404,333 | 11,373,880 | | 25,778,213 | ||||||||||||||
|
Other Diversified Financial Services |
|
| 14,954,078 | | 14,954,078 | ||||||||||||||
Regional Banks | | 8,812,617 | | 8,812,617 | ||||||||||||||||
|
Research & Consulting Services |
|
7,012,022 | 37,042,286 | | 44,054,308 | ||||||||||||||
Restaurants | | | 8,616 | 8,616 | ||||||||||||||||
Semiconductor Equipment | | 3,975,990 | | 3,975,990 | ||||||||||||||||
Semiconductors | | 24,384,835 | | 24,384,835 | ||||||||||||||||
Specialized Finance | | 5,806,847 | | 5,806,847 | ||||||||||||||||
Speciality Stores | | 4,343,324 | | 4,343,324 | ||||||||||||||||
System Software | | 7,349,544 | | 7,349,544 |
WASATCH FUNDS Notes to Financial Statements | DECEMBER 31, 2020 (UNAUDITED) |
8. FAIR VALUE MEASUREMENTS AND INVESTMENTS (continued)
Fund |
Category | Quoted Prices in Active Markets for Identical Investments (Level 1) |
Significant Other Observable Inputs (Level 2) |
Significant Unobservable Inputs (Level 3) |
Value at 9/30/20 |
|||||||||||||||
Other | $ | 244,013,223 | $ | | $ | | $ | 244,013,223 | ||||||||||||
Short-Term Investments |
| 8,413,824 | | 8,413,824 | ||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
$ | 395,936,629 | $ | 361,723,483 | $ | 8,616 | $ | 757,668,728 | |||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
International Select Fund |
|
|||||||||||||||||||
Assets |
||||||||||||||||||||
Common Stocks |
||||||||||||||||||||
Application Software | $ | 498,794 | $ | 425,118 | $ | | $ | 923,912 | ||||||||||||
|
Asset Management & Custody Banks |
|
| 246,759 | | 246,759 | ||||||||||||||
Building Products | | 247,664 | | 247,664 | ||||||||||||||||
Drug Retail | | 405,151 | | 405,151 | ||||||||||||||||
Health Care Equipment | 193,111 | 192,087 | | 385,198 | ||||||||||||||||
Health Care Supplies | | 391,744 | | 391,744 | ||||||||||||||||
Health Care Technology | | 273,955 | | 273,955 | ||||||||||||||||
Industrial Machinery | | 422,918 | | 422,918 | ||||||||||||||||
Interactive Media & Services | 208,870 | 388,053 | | 596,923 | ||||||||||||||||
|
IT Consulting & Other Services |
|
| 180,880 | | 180,880 | ||||||||||||||
Speciality Chemicals | | 176,473 | | 176,473 | ||||||||||||||||
Other | 2,194,798 | | | 2,194,798 | ||||||||||||||||
Short-Term Investments |
| 430,047 | | 430,047 | ||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
$ | 3,095,573 | $ | 3,780,849 | $ | | $ | 6,876,422 | |||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
Micro Cap Fund |
|
|||||||||||||||||||
Assets |
||||||||||||||||||||
Common Stocks |
$ | 1,147,812,905 | $ | | $ | | $ | 1,147,812,905 | ||||||||||||
Warrants |
2,228,666 | | 891,545 | 3,120,211 | ||||||||||||||||
Short-Term Investments |
| 71,400,311 | | 71,400,311 | ||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
$ | 1,150,041,571 | $ | 71,400.311 | $ | 891,545 | $ | 1,222,333,427 | |||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
Micro Cap Value Fund |
|
|||||||||||||||||||
Assets |
||||||||||||||||||||
Common Stocks |
||||||||||||||||||||
Health Care Technology | $ | 4,393,560 | $ | 3,805,137 | $ | | $ | 8,198,697 | ||||||||||||
|
Human Resource & Employment Services |
|
| 1,064,309 | | 1,064,309 | ||||||||||||||
Industrial Machinery | 10,216,720 | 4,566,554 | | 14,783,274 | ||||||||||||||||
|
IT Consulting & Other Services |
|
3,070,000 | 2,796,718 | | 5,866,718 | ||||||||||||||
|
Research & Consulting Services |
|
7,904,569 | 2,883,853 | | 10,788,422 | ||||||||||||||
Other | 253,399,896 | | | 253,399,896 | ||||||||||||||||
Convertible Preferred Stocks |
| | 1,942,454 | 1,942,454 | ||||||||||||||||
Limited Liability Company Membership Interest |
| | 17,685 | 17,685 | ||||||||||||||||
Short-Term Investments |
| 9,660,109 | | 9,660,109 | ||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
$ | 278,984,745 | $ | 24,776,680 | $ | 1,960,139 | $ | 305,721,564 | |||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
Small Cap Growth Fund |
|
|||||||||||||||||||
Assets |
||||||||||||||||||||
Common Stocks |
||||||||||||||||||||
Limited Partnership Interest1 |
$ | 3,063,132,641 | $ | | $ | | $ | 3,063,132,641 | ||||||||||||
Preferred Stocks |
| | 213,159 | 213,159 | ||||||||||||||||
Semiconductor Equipment | | | 1,437,731 | 1,437,731 | ||||||||||||||||
Systems Sottware | | | 11,937,473 | 11,937,473 | ||||||||||||||||
Short-Term Investments |
| 45,661,582 | | 45,661,582 | ||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
$ | 3,063,132,641 | $ | 45,661,582 | $ | 13,588,363 | $ | 3,122,382,586 | |||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
Small Cap Value Fund |
|
|||||||||||||||||||
Assets |
||||||||||||||||||||
Common Stocks |
||||||||||||||||||||
Diversified Banks | $ | | $ | 9,251,107 | $ | | $ | 9,251,107 | ||||||||||||
Other | 1,295,730,661 | | | 1,295,730,661 | ||||||||||||||||
Short-Term Investments |
| 14,776,041 | | 14,776,041 | ||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
$ | 1,295,730,661 | $ | 24,027,148 | $ | | $ | 1,319,757,809 | |||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
Ultra Growth Fund |
|
|||||||||||||||||||
Assets |
||||||||||||||||||||
Common Stocks |
||||||||||||||||||||
Application Software | $ | 296,829,574 | $ | 17,994,915 | $ | | $ | 314,824,489 | ||||||||||||
Other | 2,214,430,932 | | | 2,214,430,932 | ||||||||||||||||
Limited Partnership Interest1 |
| | 198,476 | 198,476 | ||||||||||||||||
Preferred Stocks |
| | 359,434 | 359,434 | ||||||||||||||||
Short-Term Investments |
| 180,276,334 | | 180,276,334 | ||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
$ | 2,511,260,506 | $ | 198,271,249 | $ | 557,910 | $ | 2,710,089,665 | |||||||||||||
|
|
|
|
|
|
|
|
WASATCH FUNDS Notes to Financial Statements | DECEMBER 31, 2020 (UNAUDITED) |
8. FAIR VALUE MEASUREMENTS AND INVESTMENTS (continued)
Fund |
Category | Quoted Prices in Active Markets for Identical Investments (Level 1) |
Significant Other Observable Inputs (Level 2) |
Significant Unobservable Inputs (Level 3) |
Value at 9/30/20 |
|||||||||||||||
U.S. Treasury Fund |
|
|||||||||||||||||||
Assets |
||||||||||||||||||||
U.S. Government Obligations |
$ | | $ | 503,546,892 | $ | | $ | 503,546,892 | ||||||||||||
Short-Term Investments |
| 2,641,948, | | 2,641,948 | ||||||||||||||||
|
|
|
|
|
|
|
|
|||||||||||||
$ | | $ | 506,188,840 | $ | | $ | 506,188,840 | |||||||||||||
|
|
|
|
|
|
|
|
1 | The fair values of these limited partnership interests have been estimated using the net asset value of the Funds Limited Partners Capital Account. These limited partnership interests can never be redeemed. Distributions from each limited partnership will be received as the underlying investments are liquidated. It is estimated that the underlying assets of the limited partnerships will be liquidated over the next one to five years |
If the securities of an Asset Class are all the same level, the asset class is shown in total. If the securities of an Asset Class cross levels, the level with the smallest number of categories and with multiple levels within a category is displayed by category. The remaining categories that do not cross levels are combined into the Other category.
The valuation techniques used by the Funds to measure fair value for the period ended December 31, 2020 maximized the use of observable inputs and minimized the use of unobservable inputs.
The following is a reconciliation of the fair valuations using significant unobservable inputs (Level 3) for the Funds during the period ended December 31, 2020:
Fund |
Market Value Beginning Balance 9/30/2020 |
Purchases at Cost |
Sales (Proceeds) |
Accrued Discounts (Premiums) |
Realized Gain/ (Loss) |
Change in Unrealized Appreciation (Depreciation) |
Transfers in at Market Value |
Transfers out at Market Value |
Market Value Ending Balance 12/31/2020 |
Net Change in Unrealized Appreciation (Depreciation) on Investments Held at 12/31/2020 |
||||||||||||||||||||||||||||||
Emerging Markets Small Cap Fund |
|
|||||||||||||||||||||||||||||||||||||||
Common Stocks |
$ | 16,796 | $ | | $ | | $ | | $ | | $ | (5 | ) | $ | | $ | | $ | 16,791 | $ | (5 | ) | ||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
$ | 16,796 | $ | | $ | | $ | | $ | | $ | (5 | ) | $ | | $ | | $ | 16,791 | $ | (5 | ) | |||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
International Opportunities Fund |
|
|||||||||||||||||||||||||||||||||||||||
Common Stocks |
$ | 8,130 | $ | | $ | | $ | | $ | | $ | 486 | $ | | $ | | $ | 8,616 | $ | 486 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
$ | 8,130 | $ | | $ | | $ | | $ | | $ | 486 | $ | | $ | | $ | 8,616 | $ | 486 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
Micro Cap Fund |
|
|||||||||||||||||||||||||||||||||||||||
Warrants |
$ | | $ | | $ | | $ | | $ | | $ | 891,545 | $ | | $ | | $ | 891,545 | $ | 891,545 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
$ | | $ | | $ | | $ | | $ | | $ | 891,545 | $ | | $ | | $ | 891,545 | $ | 891,545 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
Micro Cap Value Fund |
|
|||||||||||||||||||||||||||||||||||||||
Common Stocks |
$ | 17,685 | $ | | $ | | $ | | $ | $ | | $ | | $ | | $ | 17,685 | $ | | |||||||||||||||||||||
Preferred Stocks |
1,888,331 | 52,269 | | | | 1,854 | | | 1,942,454 | 1,854 | ||||||||||||||||||||||||||||||
Warrants |
| | | | (95,000 | ) | 95,000 | | | | | |||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
$ | 1,906,016 | $ | 52,269 | $ | | $ | | $ | (95,000 | ) | $ | 96,854 | $ | | $ | | $ | 1,960,139 | $ | 1,854 | ||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
Small Cap Growth Fund |
|
|||||||||||||||||||||||||||||||||||||||
Limited Partnership Interest |
$ | 217,878 | $ | | $ | | $ | | $ | | $ | (4,719 | ) | $ | | $ | | $ | 213,159 | $ | (4,719 | ) | ||||||||||||||||||
Preferred Stocks |
10,132,225 | | | | | 3,242,979 | | | 13,375,204 | 3,242,979 | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
$ | 10,350,103 | $ | | $ | | $ | | $ | | $ | 3,238,260 | $ | | $ | | $ | 13,588,363 | $ | 3,238,260 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
Ultra Growth Fund |
|
|||||||||||||||||||||||||||||||||||||||
Limited Partnership Interest |
$ | 202,952 | $ | | $ | | $ | | $ | | $ | (4,476 | ) | $ | | $ | | $ | 198,476 | $ | (4,476 | ) | ||||||||||||||||||
Preferred Stocks |
228,601 | | | | | 130,833 | | | 359,434 | 130,833 | ||||||||||||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||||||||
$ | 431,553 | $ | | $ | | $ | | $ | | $ | 126,357 | $ | | $ | | $ | 557,910 | $ | 126,357 | |||||||||||||||||||||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
WASATCH FUNDS Notes to Financial Statements | DECEMBER 31, 2020 (UNAUDITED) |
8. FAIR VALUE MEASUREMENTS AND INVESTMENTS (continued)
QUANTITATIVE INFORMATION ABOUT LEVEL 3 FAIR VALUE MEASUREMENTS
Fund |
Description |
Fair Value at 12/31/20 |
Valuation Technique |
Unobservable Input |
Range (Average) |
|||||||||
Micro Cap Fund |
Warrant: Pharmaceuticals | $ | 891,545 | Black Scholes | Black Scholes | 100% | ||||||||
|
||||||||||||||
Micro Cap Value Fund |
Convertible Preferred Stocks: Oil & Gas Refining & Marketing | $ | 1,942,454 | Market comparable companies | Par multiple | 0.98 - 1.05 (1.00) | ||||||||
Discount for lack of marketability, lower debt seniority & lower credit quality | 10% | |||||||||||||
|
||||||||||||||
Small Cap Growth Fund |
Direct Venture Capital Investments: Semiconductor Equipment | $ | 1,437,731 | Market comparable companies | EV/R* multiple | 0.6 - 24.2 (9.4) | ||||||||
Discount for lack of marketability | 20% | |||||||||||||
|
||||||||||||||
Small Cap Growth Fund |
Direct Venture Capital Investments: Systems Software | $ | 11,937,473 | Market comparable companies | EV/R* multiple | 1.5 - 36.2 (13.8) | ||||||||
|
||||||||||||||
Discount for lack of marketability | 20% | |||||||||||||
|
||||||||||||||
Small Cap Growth Fund |
Limited Partnership Interest: Asset Management & Custody Banks | $ | 213,159 | Discount to NAV | Discount to NAV | 25% | ||||||||
|
||||||||||||||
Ultra Growth Fund |
Direct Venture Capital Investments: Semiconductor Equipment | $ | 359,434 | Market comparable companies | EV/R* multiple | 0.6 - 24.2 (9.4) | ||||||||
|
||||||||||||||
Discount for lack of marketability | 20% | |||||||||||||
|
||||||||||||||
Ultra Growth Fund |
Limited Partnership Interest: Asset Management & Custody Banks | $ | 198,476 | Discount to NAV | Discount to NAV | 25% | ||||||||
|
* | Enterprise-Value-To-Revenue Multiple (EV/R) is a measure of the value of a stock that compares a companys enterprise value to its revenue. |
Changes in EV/R multiples may change the fair value of an investment. Generally, a decrease in this multiple will result in a decrease in the fair value of an investment.
The Funds other Level 3 investments have been valued using observable inputs, unadjusted third-party transactions and quotations or unadjusted historical third party information. No unobservable inputs internally developed by the Funds have been applied to these investments, thus they have been excluded from the above table..
9. PURCHASE COMMITMENTS
In November 2020, the Micro Cap Fund entered into an equity commitment agreement to acquire common stock in C21 Investments, Inc. The remaining commitment amount at December 31, 2020 was $2,981,381 (CAD 3,795,000).
Other information regarding the Funds is available in the Funds most recent Prospectus and Report to Shareholders. This information is available on the Funds website at wasatchglobal.com and on the Securities and Commissions website at www.sec.gov