Appropriately, there was a distinctly international flavor in the stock transactions made by the Wasatch International Growth Fund (WAIGX) in the third quarter.
Wasatch typically invests in small-cap, non-U.S. growth stocks. Since its founding in 2002, Wasatch has had an average annual return of 14.4%.
In the third quarter, Wasatch, managed by Roger Edgley and Linda Lasater, added 11 stocks to the fund’s portfolio and expanded its stakes in seven others. Ten of those acquisitions were in international stocks.
The fund’s purchase of nearly 2 million shares of Amara Raja Batteries Ltd (AMARAJABAT.India), a conglomerate based in India, for an average price of $543.15 had a 1.4% impact on the fund’s portfolio.
The fund also added Home Capital Group Inc (HCG.Canada), a Canadian holding company that provides a range of financial products and services, to its portfolio. The fund purchased 391,053 shares of Home Capital at an average price of $51.71 per share. The transaction had a 1.3% impact on the fund’s portfolio.
The fund invested in three stocks that each had a 1.1% impact on its portfolio – Senior PLC (SNR.UK), Medy-Tox Inc (086900.Korea, South) and Alaris Royalty Corporation (AD.Canada).
The fund purchased 3,525,732 shares in Senior PLC, a British holding company serving the manufacturing and engineering industries, at an average price of $2.75 a share.
The fund acquired 71,085 shares of Medy-Tox, a biopharmaceutical company based in South Korea.
More than half a million shares of Alaris Royalty Corporation, a Canadian company that provides financing for private North American businesses, were purchased by the fund for an average price of $31.46.
Other new holdings for the fund are Chailease Holding Co Ltd (5871.Taiwan), Pason Systems Inc (PSI.Canada), Jumei International Holding Ltd (JMEI), KEPCO Plant Service & Engineering Co Ltd (051600.Korea, South), Chroma Ate Inc (2360.Taiwan) and PATRIZIA Immobilien AG (P1Z.Germany).
None of the seven stocks in which the fund expanded its holdings (only one of which is a United States-based company) had an impact of greater than 0.36% on the fund’s portfolio. Those seven stocks are GMO Payment Gateway Inc (3769.Japan), Merida Industry Co Ltd (9914.Taiwan), Yoox Spa (YOOX.Italy), CRITEO (CRTO), Hermes Microvision Inc (3658.Taiwan), Sarine Technologies Ltd (U77.Singapore) and Gran Tierra Energy Inc (GTE.Canada).
Divestitures and reductions
Wasatch sold its stakes in 14 companies, 10 of which are based outside the United States – Oxford Instruments PLC (OXIG.UK), Addtech AB (ADDT B.Sweden), Royal UNIBREW (RBREW.Denmark), Tikkurila Oyj (TIK1V.Finland), Vipshop Holdings Ltd (VIPS), Autohome Inc (ATHM), SouFun Holdings Ltd (SFUN), ASOS PLC (ASC.UK), Mekonomen AB (MEKO.Sweden), Super Group Ltd (S10.Singapore), Nac co Ltd (9788.Japan), Mincon Group PLC (MCON.UK), Pricesmart Inc (PSMT) and Prestige International Inc (4290.Japan).
The sale of Wasatch’s 1,158,418 shares in Oxford Instruments, a British manufacturing and research company, for an average price of $11.9 had a -1.6% impact on Wasatch’s portfolio.
Wasatch sold its 1,174,303 shares in Addtech AB, a Swedish technology trading group, for an average price of $108.38. That transaction had a -1.4% impact on the fund’s portfolio.
The fund sold its 126,434 shares of Royal UNIBREW, Denmark’s second-largest brewer, for an average price of $922.47. The sale had a -1.3% impact on Wasatch’s portfolio.
The other divestitures had impacts of less than -1.0% on the fund’s portfolio.
Wasatch also reduced its stakes in 21 companies, all of which are based outside the United States – Start Today Co. Ltd (3092.Japan), CTS Eventim AG & Co. KGaA (EVD.Germany), Salvatore Ferragamo SpA (SFER.Italy), Abcam PLC (ABC.UK), Melco International Development Ltd (00200.Hongkong), Domino's Pizza Enterprises Ltd (DMP.Australia), Axis AB (AXIS.Sweden), Rotork PLC (ROR.UK), TGS-NOPEC Geophysical Co ASA (TGS.Norway), MonotaRO Co Ltd (3064.Japan), Rightmove PLC (RMV.UK), Seria Co., Ltd. (2782.Japan), Pigeon Corporation (7956.Japan), Indocement Tunggal Prakarsa Tbk (INTP.Indonesia), Coca Cola Icecek Sanayi AS (CCOLA.Turkey), Nostrum Oil & Gas PLC (NOG.UK), Vitasoy International Holdings Ltd (00345.Hongkong), CALBEE Inc (2229.Japan), COSMOS Pharmaceutical Corporation (3349.Japan), Wirecard AG (WDI.Germany) and Kakaku.com Inc (2371.Japan).
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