WASATCH FUNDS - Curian Clearing

WASATCH EMERGING MARKETS SMALL CAP FUND (WAEMX) — Schedule of Investments
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Value
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Value
COMMON STOCKS 97.7%
AirportServices2.5%
4,056,143 Grupo Aeroportuario del Centro Norte
S.A.B. de C.V.* (Mexico) $19,766,766
1,401,234 TAV Havalimanlari Holding A.S. (Turkey) 11,728,628
31,495,394
Application Software 1.1%
13,963,012 Kingdee International Software Group Co.
Ltd.* (China) 5,871,315
460,965 Linx S.A. (Brazil) 6,696,342
974,011 Silverlake Axis Ltd. (Singapore) 972,591
13,540,248
Asset Management & Custody
Banks 1.4%
925,750 CETIP S.A. — Mercados Organizados
(Brazil) 9,171,829
4,097,771 Peregrine Holdings Ltd. (South Africa) 8,770,991
17,942,820
Automotive Retail 0.5%
413,409 Kolao Holdings (Korea) 6,371,891
Biotechnology 1.5%
162,595 Cell Biotech Co. Ltd. (Korea) 9,643,293
30,654 Medy-Tox, Inc. (Korea) 9,081,950
18,725,243
Building Products 0.8%
17,003,441 China Lesso Group Holdings Ltd. (China) 10,088,655
Casinos & Gaming 1.9%
62,431,449 Melco Crown Philippines Resorts Corp.*
(Philippines) 12,793,559
514,912 Paradise Co. Ltd. (Korea) 11,254,780
24,048,339
CatalogRetail0.5%
682,716 Momo.com, Inc. (Taiwan) 5,662,026
Commodity Chemicals 1.4%
5,305,963 Berger Paints India Ltd. (India) 17,694,669
Construction & Engineering 0.7%
6,191,452 China Singyes Solar Technologies Holdings
Ltd. (China) 8,449,223
Construction Materials 2.4%
1,357,973 Cemex Latam Holdings S.A.* (Colombia) 7,051,719
39,667,101 PT Holcim Indonesia Tbk (Indonesia) 4,641,733
1,095,602 Siam City Cement Public Co. Ltd.
(Thailand) 12,861,708
7,260,550 Union Andina de Cementos S.A.A. (Peru) 5,461,527
30,016,687
Consumer Finance 5.2%
6,687,092 Credito Real S.A.B. de C.V. SOFOM
(Mexico) 15,744,736
2,793,964 Mahindra & Mahindra Financial Services
Ltd. (India) 11,272,960
613,996 Shriram City Union Finance Ltd. (India) 19,328,027
15,205,986 Srisawad Power 1979 Public Co. Ltd.*
(Thailand) 18,224,753
64,570,476
Data Processing & Outsourced
Services 0.3%
4,267,700 My EG Services Berhad (Malaysia) 3,215,035
Department Stores 1.6%
2,103,125 Poya Co. Ltd. (Taiwan) 20,029,762
Diversified Banks 2.9%
11,440,845 EastWest Banking Corp.* (Philippines) $ 6,283,507
176,596 Intergroup Financial Services Corp. (Peru) 5,119,518
6,321,981 Security Bank Corp. (Philippines) 24,326,191
35,729,216
Diversified Capital Markets 0.8%
1,418,667 Grupo Financiero Interacciones S.A. de
C.V., Class O (Mexico) 9,375,349
Diversified Chemicals 1.8%
2,390,229 Pidilite Industries Ltd. (India) 22,916,407
Diversified Support Services 0.9%
124,276 KEPCO Plant Service & Engineering Co.
Ltd. (Korea) 10,932,748
Drug Retail 1.5%
2,416,040 Clicks Group Ltd. (South Africa) 18,201,289
Electrical Components &
Equipment 0.9%
1,088,067 Voltronic Power Technology Corp.
(Taiwan) 10,797,213
Electronic Components 0.8%
740,281 Partron Co. Ltd. (Korea) 9,541,681
Electronic Equipment &
Instruments 1.2%
6,007,723 Chroma ATE, Inc. (Taiwan) 14,918,507
Electronic Manufacturing
Services 0.9%
8,726,715 Hana Microelectronics Public Co. Ltd.
(Thailand) 11,800,106
Fertilizers & Agricultural
Chemicals 2.7%
355,034 Bayer CropScience Ltd. (India) 19,061,848
1,999,537 UPL Ltd. (India) 14,115,976
33,177,824
Food Retail 0.1%
14,000 BGF Retail Co. Ltd. (Korea) 1,425,932
Footwear 0.6%
163,834 CCC S.A. (Poland) 7,900,350
General Merchandise Stores 1.0%
1,711,904 Taiwan FamilyMart Co. Ltd. (Taiwan) 12,857,061
Health Care Equipment 0.7%
184,647 i-SENS, Inc.* (Korea) 8,155,125
Health Care Facilities 1.0%
7,336,829 Phoenix Healthcare Group Co. Ltd.
(China) 12,964,853
Highways & Railtracks 1.0%
22,176,925 PT Jasa Marga Persero Tbk (Indonesia) 12,212,150
Home Furnishings 1.2%
89,694 Hanssem Co. Ltd. (Korea) 14,915,988
498,323 Man Wah Holdings Ltd. (Hong Kong) 478,857
15,394,845
Home Improvement Retail 0.5%
23,868,516 Home Product Center Public Co. Ltd.
(Thailand) 5,978,132
Hotels, Resorts & Cruise Lines 2.6%
47,634,205 Bloomberry Resorts Corp. (Philippines) 11,125,304
19,351,643 Minor International Public Co. Ltd.
(Thailand) 20,814,613
31,939,917
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