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Wasatch U.S. Select Fund

Ticker WAUSX
NAV As of 07/18/24 $14.47
Daily Change As of 07/18/24 -$0.19 / -1.30%
Wasatch U.S. Select Fund
Ticker WAUSX
NAV $14.47
Daily Change -$0.19 / -1.30%
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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
2 years on fund
7 years at wasatch
Paul Lambert Paul Lambert Portfolio Manager
2 years on fund
24 years at wasatch
Austin Bone Austin Bone Portfolio Manager
2 years on fund
8 years at wasatch
Mick Rasmussen Mick Rasmussen Portfolio Manager
2 years on fund
10 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

Total Returns AS OF 06/30/24 AS OF 06/30/24
Quarter-End Month-end
1 Month
3 Month
ytd
1 yr
3 yr
5 yr
10 yr
Since
Inception
U.S. Select Fund
0.07%
-5.16%
0.64%
11.67%
N/A
N/A
N/A
18.53%
Russell 3000® Growth Index
6.43%
7.80%
19.90%
32.22%
N/A
N/A
N/A
30.21%
Russell Midcap® Growth Index
1.67%
-3.21%
5.98%
15.05%
N/A
N/A
N/A
19.79%

Returns for periods greater than one year are annualized. The performance data quoted represents past performance. Past performance does not guarantee future results. 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 4.56%. The Advisor has contractually agreed to limit certain expenses to 1.00% through at least 1/31/2025.

Growth of Hypothetical Investment 06/13/22 to 06/28/24
U.S. Select Fund
Russell 3000® Growth Index
Russell Midcap® 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.

Calendar Year Returns (%) As of 12/31/23
U.S. Select Fund
Russell 3000® Growth Index
Russell Midcap® Growth Index

Portfolio

Characteristics AS OF 06/30/24
Fund
Index
Number of Holdings
34
1494
Average Market Cap
($ Weighted)
$22.49B
$1,446.58B
Median Market Cap
$11.01B
$2.33B
EPS Growth (%, est. 5 yr)
17
20
P/E (Forward)
32
28
Portfolio Turnover (%)
28.14
N/A
Active Share (%)
99
N/A
Performance Statistics AS OF 06/30/24
Since Inception
Alpha
-2.54
Beta
0.93
R-Squared
0.72
Standard Deviation
21.96
Upside Capture
81.29
Downside Capture
113.50
Top 10 Holdings AS OF 03/31/24
Company
% of Net Assets
Amphenol Corp. Class A
4.4%
HealthEquity, Inc.
4.3%
Roper Technologies, Inc.
4.2%
AMETEK, Inc.
4.1%
Copart, Inc.
4.1%
Ensign Group, Inc.
3.9%
Valvoline, Inc.
3.5%
ICON PLC
3.3%
HEICO Corp. Class A
3.3%
Hamilton Lane, Inc. Class A
3.2%
34 Number of holdings
99% Active share
Sector Allocation AS OF 06/30/24
Sector
Fund
Index
Information Technology
32.1 %
48.3 %
Industrials
22.7 %
5.1 %
Health Care
15.5 %
8.9 %
Financials
12.7 %
6.0 %
Consumer Discretionary
10.6 %
13.6 %
Consumer Staples
3.3 %
3.6 %
Materials
3.1 %
0.7 %
Communication Services
0.0 %
12.7 %
Energy
0.0 %
0.6 %
Real Estate
0.0 %
0.5 %
Utilities
0.0 %
0.2 %

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

Country Allocation AS OF 06/30/24
Fund (%)
Developed
100%
United States
96.8%
Ireland
3.2%

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

96.8% 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.  Investing in foreign securities, especially in emerging and frontier markets, entails special risks, such as currency fluctuations and political uncertainties, which are described in more detail in the prospectus. 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 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.

The Fund has been developed solely by Wasatch Global Investors. The Fund is not in any way connected to or sponsored, endorsed, sold or promoted by the London Stock Exchange Group plc and its group undertakings (collectively, the “LSE Group”). FTSE Russell is a trading name of certain of the LSE Group companies. All rights in the Russell Indices vest in the relevant LSE Group company which owns the Index. Russell ® is a trademark of the relevant LSE Group company and used by any other LSE Group company under license. TMX® is a trademark of TSX, Inc. and used by the LSE Group under license. The Index is calculated by or on behalf of FTSE International Limited or its affiliate, agent or partner. The LSE Group does not accept any liability whatsoever to any person arising out of (a) the use of, reliance on or any error in the Index or (b) investment in or operation of the Wasatch Core Growth Fund or the suitability of the Index for the purpose to which it is being put by Wasatch Global Investors. Indexes are unmanaged, and investors cannot invest directly in an index.

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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