Insight into Wasatch International Growth (Trades, Portfolio)'s Latest Portfolio Adjustments
Wasatch International Growth (Trades, Portfolio), known for its keen focus on high-quality small-cap growth companies outside the U.S., recently disclosed its investment activities for the first quarter of 2024. The fund, established on June 28, 2002, adheres to a meticulous investment philosophy that targets companies with potential for significant and sustained growth, experienced management, and strong financial health among other criteria. Through a rigorous bottom-up process involving screening, deep due diligence, proprietary earnings models, and careful valuation, Wasatch aims to identify and invest in market leaders with sustainable competitive advantages.
New Additions to the Portfolio
During the first quarter of 2024, Wasatch International Growth (Trades, Portfolio) expanded its portfolio by adding five new stocks. Noteworthy among these was Bytes Technology Group PLC (LSE:BYIT, Financial), acquiring 877,720 shares valued at £5.66 million, making up 1.48% of the portfolio. Another significant addition was Rakuten Bank Ltd (TSE:5838, Financial) with 191,100 shares, representing about 1% of the portfolio and valued at ¥3,813,760. Hemnet Group AB (OSTO:HEM, Financial) also joined the list with 78,676 shares, accounting for 0.63% of the portfolio and valued at kr2,407,300.
Key Position Increases
Wasatch International Growth (Trades, Portfolio) also strategically increased its stakes in 12 existing holdings. A prominent increase was in Gerresheimer AG (XTER:GXI, Financial), where an additional 16,154 shares were purchased, bringing the total to 44,454 shares. This adjustment marked a 57.08% increase in share count and impacted the portfolio by 0.48%, with a total value of €5,004,280. Another notable increase was in Aspeed Technology Inc (ROCO:5274, Financial), with 16,000 additional shares, resulting in a 62.75% increase in share count and a total value of NT$4,325,130.
Complete Exits from Holdings
In the same quarter, Wasatch International Growth (Trades, Portfolio) decided to exit completely from four holdings. This included selling all 245,828 shares of Menicon Co Ltd (TSE:7780, Financial), which had a -0.94% impact on the portfolio. Another significant exit was from JCR Pharmaceuticals Co Ltd (TSE:4552, Financial), where all 380,271 shares were sold, causing a -0.73% impact on the portfolio.
Significant Reductions in Positions
The fund also reduced its positions in 46 stocks. The most significant reduction was in Reply SpA (MIL:REY, Financial), where 56,252 shares were sold, resulting in a -61.16% decrease in shares and a -1.71% impact on the portfolio. The stock traded at an average price of €124.92 during the quarter and has seen a -2.21% return over the past three months and a 3.85% year-to-date return. Another major reduction was in CyberArk Software Ltd (CYBR, Financial), with a 50.7% reduction in shares, impacting the portfolio by -1.48%.
Portfolio Overview
As of the first quarter of 2024, Wasatch International Growth (Trades, Portfolio)'s portfolio comprised 63 stocks. The top holdings included 3.83% in Diploma PLC (LSE:DPLM, Financial), 3.82% in The Descartes Systems Group Inc (TSX:DSG, Financial), and 3.35% in Qualitas Controladora SAB de CV (MEX:Q, Financial). The holdings are predominantly concentrated in nine industries: Technology, Industrials, Financial Services, Healthcare, Consumer Cyclical, Communication Services, Real Estate, Basic Materials, and Consumer Defensive.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
