WASATCH FUNDS - Curian Clearing

WASATCH EMERGING MARKETS SELECT FUND (WAESX / WIESX) — Schedule of Investments
Shares
Value
Shares
Value
COMMON STOCKS 93.4%
AirportServices2.9%
255,200 Grupo Aeroportuario del Pacifico S.A.B. de
C.V., Class B (Mexico) $ 1,674,311
Construction & Engineering 1.9%
101,924 Promotora y Operadora de Infraestructura
S.A.B. de C.V.* (Mexico) 1,086,147
Construction Materials 2.3%
260,191 Cemex Latam Holdings S.A.* (Colombia) 1,351,127
Consumer Finance 2.9%
932,900 Gentera S.A.B. de C.V.* (Mexico) 1,669,519
Diversified Banks 21.8%
200,675 Axis Bank Ltd. (India) 1,789,300
2,256,900 PT Bank Negara Indonesia Persero Tbk
(Indonesia) 1,247,121
1,293,089 PT Bank Rakyat Indonesia Persero Tbk
(Indonesia) 1,312,869
1,212,811 BBVA Banco Continental S.A. (Peru) 1,699,306
139,790 IndusInd Bank Ltd. (India) 1,981,547
286,200 Kasikornbank Public Co. Ltd. (Thailand) 2,022,926
853,783 Metropolitan Bank & Trust (Philippines) 1,863,233
376,550 National Bank of Ras Al-Khaimah
(United Arab Emirates) 825,295
12,741,597
Diversified Capital Markets 2.1%
183,766 Grupo Financiero Interacciones S.A. de
C.V., Class O (Mexico) 1,214,429
Drug Retail 1.9%
124,309 Raia Drogasil S.A. (Brazil) 1,107,461
Food Retail 4.7%
70,029 BIM Birlesik Magazalar A.S. (Turkey) 1,242,385
203,065 President Chain Store Corp. (Taiwan) 1,528,341
2,770,726
Health Care Facilities 3.6%
1,645,637 Bangkok Dusit Medical Services Public Co.
Ltd. (Thailand) 996,283
320,125 Life Healthcare Group Holdings Ltd.
(South Africa) 1,115,898
2,112,181
Highways & Railtracks 3.0%
3,226,900 PT Jasa Marga Persero Tbk (Indonesia) 1,776,955
Hotels, Resorts & Cruise Lines 1.9%
4,762,500 Bloomberry Resorts Corp. (Philippines) 1,112,315
Industrial Machinery 1.6%
91,600 Weg S.A. (Brazil) 906,098
Internet Software & Services 2.9%
13,788 MercadoLibre, Inc. (Brazil) 1,689,306
IT Consulting & Other Services 3.3%
122,822 HCL Technologies Ltd. (India) 1,928,844
Life & Health Insurance 4.7%
137,292 Discovery Ltd. (South Africa) 1,411,633
209,527 Sanlam Ltd. (South Africa) 1,352,856
2,764,489
Managed Health Care 2.5%
204,681 Qualicorp S.A.* (Brazil) 1,451,661
Marine Ports & Services 3.6%
873,052 International Container Terminal Services,
Inc. (Philippines) 2,109,387
Multi-Line Insurance 1.9%
109,161 BB Seguridade Participacoes S.A. (Brazil) $ 1,113,766
Multi-Sector Holdings 2.4%
46,400 GT Capital Holdings, Inc. (Philippines) 1,388,886
Packaged Foods & Meats 3.2%
373,479 Universal Robina Corp. (Philippines) 1,888,283
Pharmaceuticals 6.9%
140,661 Glenmark Pharmaceuticals Ltd. (India) 1,760,587
71,699 Lupin Ltd. (India) 2,291,447
4,052,034
Soft Drinks 2.6%
88,823 Coca-Cola Icecek A.S. (Turkey) 1,502,317
Specialty Chemicals 2.8%
126,813 Asian Paints Ltd. (India) 1,633,055
Wireless Telecommunication
Services 6.0%
494,208 Idea Cellular Ltd. (India) 1,447,136
2,859,478 PT Tower Bersama Infrastructure Tbk
(Indonesia) 2,072,165
3,519,301
Total Common Stocks
(cost $50,501,283) 54,564,195
RIGHTS 0.1%
Life & Health Insurance 0.1%
12,887 Discovery Ltd., expiring 4/2/15* ***
(South Africa) 36,948
Multi-Sector Holdings 0.0%
46,400 GT Capital Holdings, Inc., expiring
4/8/15* *** (Philippines) —
Principal
Amount
Total Rights
(cost $—) 36,948
Value
SHORT-TERM INVESTMENTS 5.8%
Repurchase Agreement 5.8%
$3,373,728 Repurchase Agreement dated 3/31/15,
0.00% due 4/1/15 with State Street Bank
and Trust Co. collateralized by $3,470,000
of United States Treasury Bonds 1.625%
due 11/15/22; value: $3,443,975; repurchase
proceeds: $3,373,728 (cost $3,373,728) $ 3,373,728
Total Short-Term Investments
(cost $3,373,728) 3,373,728
Total Investments
(cost $53,875,011) 99.3% 57,974,871
Other Assets less Liabilities 0.7% 415,960
NET ASSETS 100.0% $58,390,831
*Non-income producing.
***Security was fair valued under procedures adopted by the Board of
Trustees (see Note 14).
See Notes to Financial Statements.
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