WAAEX
Wasatch Small Cap Growth Fund
WASATCH FUNDS TRUST
Expense ratio1
1.14%
Net assets2
$1.21B
Holdings2
43
Category
US Equity
2025 return3
-8.80%

Investment objective & strategy

As of Jan. 28, 2026 · prospectus

Objective. The Funds primary investment objective is long-term growth of capital.

Strategy. The Fund invests primarily in small growth companies. Under normal market conditions, we will invest at least 80% of the Funds net assets (plus borrowings for investment purposes) in the equity securities, typically common stock, of small-capitalization companies. The Fund considers a company to be a small-capitalization company if its market capitalization, at the time of purchase, is less than the larger of $3 billion or the market capitalization of the largest company in the Russell 2000 Index as of its most recent reconstitution date. The Russell 2000 Index reconstitution date is typically each year on or around July 1. As of the 2025 reconstitution date, the market capitalization of companies included in the Russell 2000 Index ranged from $ … The Fund invests primarily in small growth companies. Under normal market conditions, we will invest at least 80% of the Funds net assets (plus borrowings for investment purposes) in the equity securities, typically common stock, of small-capitalization companies. The Fund considers a company to be a small-capitalization company if its market capitalization, at the time of purchase, is less than the larger of $3 billion or the market capitalization of the largest company in the Russell 2000 Index as of its most recent reconstitution date. The Russell 2000 Index reconstitution date is typically each year on or around July 1. As of the 2025 reconstitution date, the market capitalization of companies included in the Russell 2000 Index ranged from $ 61 million to $ 16.033 billion. The market capitalizations for the range of companies in the Russell 2000 Index are subject to change at its next reconstitution date. The Fund may invest up to 20% of its total assets at the time of purchase in securities issued by foreign companies (companies that are incorporated in any country outside the United States and whose securities principally trade outside the United States). Securities issued by companies incorporated outside the United States whose securities are principally traded in the United States are not defined as foreign companies and are not subject to this limitation. Within the Funds portfolio, we seek to create a blend of core companies that we believe have the potential to grow steadily over long periods of time at faster rates than the average large company, and high growth companies that we believe have the potential to grow faster and more aggressively than core companies. The Funds secondary objective of income is achieved when fast-growing portfolio companies pay dividends, generated by cash flow, typically after achieving growth targets. We use a bottom-up process of fundamental analysis to look for individual companies that we believe have superior growth prospects. Our analysis may include studying a companys financial statements, building proprietary financial models, visiting company facilities, and meeting with executive management, suppliers and customers. The Fund may invest a large percentage of its assets (greater than 5%) in a particular region or market. The Fund may invest a large percentage of its assets (greater than 5%) in a few sectors. As of the date of this Prospectus, these sectors were information technology, industrials, health care, consumer discretionary, financials, and consumer staples. The Fund may invest in initial public offerings (IPOs).

Top holdings

As of March 31, 2026 · N-PORT
SecurityTickerValue% of fund
HEALTHEQUITY INC $57.55M 4.77%
RBC BEARINGS INC $52.44M 4.35%
ENSIGN GROUP INC $52.08M 4.32%
SITEONE LANDSCAPE SUPPLY INC $51.31M 4.26%
NOVA LTD $44.62M 3.70%
MEDPACE HOLDINGS INC $43.34M 3.59%
CAMTEK LTD $40.22M 3.34%
FABRINET $39.95M 3.31%
PJT PARTNERS INC $39.50M 3.28%
EVERUS CONSTRUCTION GROUP INC $37.54M 3.11%
View all holdings →

Allocation by sector

As of March 31, 2026 · N-PORT
View portfolio breakdown →

Portfolio moves

Dec 31, 2025 → Mar 31, 2026
Opened
5
Exited
6
Increased
9
Decreased
15
Unchanged
14

How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.

View portfolio moves →

Similar funds

Funds whose portfolios most overlap this one, by weight
FundOverlapNet exp.
Wasatch Core Growth Fund · WGROX, WIGRX 54% 1.05%
Wasatch U.S. Select Fund · WAUSX, WGUSX 49% 0.86%
Wasatch Ultra Growth Fund · WAMCX, WGMCX 46% 1.05%
View all similar funds →

Advisers

As of September 30, 2025 · N-CEN
FirmRole
Wasatch Advisors LP Adviser

Footnotes

  1. Expense ratio as of January 28, 2026, from the fund's prospectus.
  2. Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
  3. Total return for calendar year 2025, before tax and after fund expenses. As reported in the fund's prospectus performance bar chart.

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