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| # | Fund | Strategy | Style | Geography | AUM | Latest Letter |
|---|---|---|---|---|---|---|
As of Jul 25, 2026
The Wasatch Global Select strategy gained but underperformed its benchmark MSCI AC World Index, which returned 14.93% in Q2 2026. AI enthusiasm continued to drive technology-related companies and the broader AI supply chain. Stock selection in information technology and financials detracted most from relative performance, with U.S. stock selection being the largest geographic detractor. Procore Technologies was the largest individual detractor as software stocks sold off on AI disruption concerns, though the managers believe the market has underestimated competitive moats. Hamilton Lane also detracted on private credit exposure worries. ASPEED Technology was the top contributor, benefiting from surging server management chip demand for AI workloads. Loar Holdings and RBC Bearings contributed as aerospace and defense companies rallied on strong fundamentals. The managers are investing in AI through a high-quality, long-duration growth lens while capitalizing on market inefficiencies by concentrating capital into steady growth companies ignored amid AI enthusiasm that now trade at extremely attractive valuations. They believe these companies are well positioned to outperform once fundamentals regain focus.
The Wasatch Global Select strategy invests in high-quality, long-duration growth companies with durable competitive advantages, focusing on global small- and mid-cap stocks. The managers are investing in AI through a selective lens, owning companies that directly or indirectly benefit from the AI build-out while also capitalizing on market inefficiencies by concentrating capital into steady growth companies that have been ignored amid AI enthusiasm and now trade at extremely attractive valuations.
The managers believe AI has transformative potential and will continue to hold and search for high-quality companies that benefit from AI. However, they are also capitalizing on the market's one-sided nature by concentrating more capital into steady growth companies that are not AI beneficiaries but trade at extremely attractive valuations. They believe these companies are well positioned to outperform once the market puts greater emphasis on company fundamentals.
Moderate Conviction Bullish
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