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Wasatch U.S. Select Fund

Ticker WAUSX
NAV As of 12/07/22 $10.78
Daily Change As of 12/07/22 $0.01 / 0.09%
Wasatch U.S. Select Fund
Ticker WAUSX
NAV $10.78
Daily Change $0.01 / 0.09%
TOP

Fund Overview

Objective

Long-term growth of capital

Highlights
  • A concentrated, yet diversified high-conviction portfolio of 20-40 stocks
  • Seeks the highest-quality growth companies in the U.S.
  • Truly active, collaborative, bottom-up, fundamental process
Investment Approach

We use a bottom-up approach that seeks to identify companies with outstanding long-term growth potential. We look for companies with:

  • Strong financials
  • A sustainable competitive advantage
  • Industry-best management teams
  • Earnings growth greater than the relevant sector or industry

All cap flexibility with a focus on mid-cap companies

Approximately 20-40 positions

Fund Managers
Mike Valentine Mike Valentine Portfolio Manager
< 1 year on fund
6 years at wasatch
Paul Lambert Paul Lambert Portfolio Manager
< 1 year on fund
22 years at wasatch
Austin Bone Austin Bone Portfolio Manager
< 1 year on fund
6 years at wasatch
Mick Rasmussen Mick Rasmussen Portfolio Manager
< 1 year on fund
8 years at wasatch

We believe our fundamental, bottom-up research process lends itself to finding companies in which there’s still tremendous headroom for growth as their stocks move beyond small market capitalization limits.”

—Mike Valentine, Portfolio Manager

Performance

Average Annual Total Returns AS OF 09/30/22 AS OF 11/30/22
Quarter-End Month-end
1 Month
3 Month
ytd
1 yr
3 yr
5 yr
10 yr
Since
Inception
U.S. Select Fund
6.07%
4.19%
N/A
N/A
N/A
N/A
N/A
11.80%
Russell 3000® Growth Index
4.37%
-0.01%
N/A
N/A
N/A
N/A
N/A
9.74%
Russell Midcap® Growth Index
5.44%
4.07%
N/A
N/A
N/A
N/A
N/A
15.43%

Returns for periods less than one year are not annualized. Data shows past performance and is not indicative of future performance. Current performance may be lower or higher than the data quoted. Investment returns and principal value will fluctuate and shares, when redeemed, may be worth more or less than their original cost. The Advisor may absorb certain expenses, leading to higher total shareholder returns. Wasatch Funds will deduct a 2% redemption fee on Fund shares held 60 days or less. Performance data does not reflect this redemption fee or taxes. Total Expense Ratio: Investor Class 1.08%. The Advisor has contractually agreed to limit certain expenses to 1.00% through at least 1/31/2024.

Growth of Hypothetical Investment 06/13/22 to 09/30/22
U.S. Select Fund
Russell 3000® Growth Index

The hypothetical chart does not reflect the deduction of fees, sales charges, or taxes that you would pay on fund distributions or the redemption of fund shares.

Portfolio

Characteristics AS OF 09/30/22
Fund
Index
Number of Holdings
35
1639
Average Market Cap
($ Weighted)
$14.34B
$664.12B
Median Market Cap
$7.81B
$2.10B
EPS Growth (%, est. 5 yr)
18
16
P/E (Forward)
25
20
Portfolio Turnover (%)
N/A
N/A
Active Share (%)
98
N/A
Performance Statistics AS OF 09/30/22
Data not available
Top 10 Holdings AS OF 09/30/22
Company
% of Net Assets
AMETEK, Inc.
4.2%
Balchem Corp.
4.1%
HEICO Corp. Class A
3.9%
Ensign Group, Inc.
3.9%
Amphenol Corp. Class A
3.9%
Roper Technologies, Inc.
3.7%
Bank OZK
3.7%
Copart, Inc.
3.5%
Old Dominion Freight Line, Inc.
3.5%
HealthEquity, Inc.
3.4%
35 Number of holdings
98% Active share
Sector Allocation AS OF 09/30/22
Sector
Fund
Index
Information Technology
36.6 %
41.3 %
Industrials
19.2 %
7.8 %
Health Care
18.2 %
13.0 %
Financials
12.4 %
3.2 %
Consumer Discretionary
9.3 %
16.7 %
Materials
4.1 %
1.5 %
Utilities
0.0 %
0.2 %
Real Estate
0.0 %
1.6 %
Communication Services
0.0 %
7.3 %
Energy
0.0 %
1.9 %
Consumer Staples
0.0 %
5.6 %

Weights are calculated as a percentage of net assets including cash & cash equivalents

Country Allocation AS OF 09/30/22
Fund (%)
Developed
99.8%
United States
93.8%
Ireland
3.3%
Israel
2.7%

Weights are calculated as a percentage of net assets including cash & cash equivalents

93.8% United States

Commentary & Literature

News & Updates

Wasatch Launches U.S. Select Fund

June 13, 2022

Wasatch Global Investors announced today the launch of the Wasatch U.S. Select…

Read More >

Introducing The U.S. Select Strategy

June 13, 2022

Small- and large-cap stocks each possess desirable characteristics, but also a trade-off….

Read More >
Historical Distributions and NAVs Select start and end dates
to:

Important Disclosures

Investing in small or micro cap funds can be more volatile and loss of principal could be greater than investing in large cap or more diversified funds.  Being non-diversified, the Fund can invest a larger portion of its assets in the stocks of a limited number of companies than a diversified fund. Non-diversification increases the risk of loss to the Fund if the values of these securities decline. The Fund is new and has a limited operating history.

The Russell 3000 Growth TR Index measures the performance of Russell 3000 Index companies with higher price-to-book ratios and higher forecasted growth values. The Russell 3000 Growth Index is constructed to provide a barometer of the broad growth market.

The Russell Midcap Growth TR Index measures the performance of the mid-cap growth segment of the U.S. equity universe. It includes those Russell Midcap Index companies with higher price-to-book ratios and higher forecasted growth values.

You cannot invest directly in any index.

Est. 5-year EPS Growth %: Estimated percentage increase in earnings per share (EPS) per year of the fund’s holdings over the next 5 years. Returns are not guaranteed and may be higher or lower. Source: Wasatch and FactSet. P/E Ratio (forward and trailing): Sum of stock prices of the fund’s holdings divided by the aggregate earnings per share of those holdings for the next 12 months (forward), or past 12 months (trailing), calculated as a weighted harmonic average. P/E to Growth Rate: Forward 12-month P/E ratio divided by the estimated 5-year EPS growth rate. Portfolios with a number less than 1.0 would be considered undervalued, around 1.0 would be considered fair valued and significantly greater than 1.0 would be considered overvalued. Weighted Average Market Cap: Average market capitalization of companies held by the fund, weighted by their percentage of fund net assets. Portfolio Turnover: A measure of trading activity in a fund’s portfolio over the past 12 months expressed as a percentage of the fund’s average total assets. Alpha measures a fund’s risk/reward potential. A positive alpha means the fund outperformed the index. A negative alpha means the fund underperformed the index. Beta measures a fund’s risk in relation to the market. A beta of 0.8 means the fund’s total return is likely to move up or down 80% of the market change; 1.25 means total return is likely to move up or down 25% more than the market. R-Squared measures (from 0 to 1.0) how closely a fund’s movements are correlated with movements of its benchmark. An R-squared of 1.0 would mean that the fund’s movements are completely correlated with the movements of its benchmark. Active Share measures the difference between portfolio holdings and the benchmark. It is the sum of the absolute values of the different weightings of each holding in the fund versus each holding in the benchmark, divided by 2. Standard Deviation measures the degree to which a fund’s performance has varied from its average performance over a particular time period. The greater the standard deviation, the greater a fund’s volatility (risk). Upside Capture explains how well a fund performs in time periods where the benchmark’s returns are greater than zero. Downside Capture explains how well a fund performs in time periods where the benchmark’s returns are less than zero.

Country Allocation is defined by the MSCI Country Classification Standard and may differ from the economic country classification used to determine qualifying investments.

Fund holdings are subject to risks and may change at any time. References to specific securities should not be construed as recommendations by the Fund or its Advisor.

Wasatch Funds are distributed by ALPS Distributors, Inc.

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