Insightful Portfolio Adjustments Reflect Broad Sector Approach
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 second quarter of 2024 through an N-PORT filing. The fund, established on June 28, 2002, adheres to a meticulous investment philosophy that prioritizes significant and sustained growth, experienced management, and strong financial health among other criteria. By employing a bottom-up approach in fundamental analysis, Wasatch International Growth (Trades, Portfolio) aims to identify companies poised for long-term earnings growth.
New Additions to the Portfolio
During the second quarter of 2024, Wasatch International Growth (Trades, Portfolio) expanded its portfolio by adding three new stocks. Notably, the fund invested in JTC PLC (LSE:JTC, Financial), purchasing 324,808 shares valued at £3.93 million, making it the most significant new addition at 1.31% of the portfolio. Other notable additions include Five-Star Business Finance Ltd (NSE:FIVESTAR, Financial) with 184,532 shares, and APL Apollo Tubes Ltd (NSE:APLAPOLLO, Financial) with 50,896 shares.
Significant Increases in Existing Positions
The fund also increased its stakes in six stocks. A standout increase was in Japan Material Co Ltd (TSE:6055, Financial), where Wasatch International Growth (Trades, Portfolio) boosted its holding by an impressive 445.15%, adding 118,565 shares. Another significant increase was in Hemnet Group AB (OSTO:HEM, Financial), with an additional 39,162 shares.
Strategic Exits
Wasatch International Growth (Trades, Portfolio) also made decisive exits from four holdings in this quarter. The fund sold all its shares in CAE Inc (TSX:CAE, Financial) and TechnoPro Holdings Inc (TSE:6028, Financial), which had impacts of -1.14% and -1.01% on the portfolio, respectively.
Reductions in Key Positions
Furthermore, the fund reduced its positions in 53 stocks. Notable reductions include Qualitas Controladora SAB de CV (MEX:Q, Financial) and The Descartes Systems Group Inc (TSX:DSG, Financial), with share count decreases of 38.74% and 23.62%, respectively.
Portfolio Overview and Sector Allocation
As of the second quarter of 2024, Wasatch International Growth (Trades, Portfolio)'s portfolio comprised 62 stocks. The top holdings included 4.16% in Diploma PLC (LSE:DPLM, Financial), 3.95% in The Descartes Systems Group Inc (TSX:DSG, Financial), and 3.52% in Voltronic Power Technology Corp (TPE:6409, Financial). The fund's investments are primarily concentrated across nine industries, highlighting a diverse sector allocation that supports its broad market approach.
This strategic positioning by Wasatch International Growth (Trades, Portfolio) underscores its commitment to identifying and investing in high-potential international markets, reflecting a well-rounded approach to value creation in small-cap growth sectors.
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.
