Summary

• Wasatch International Opportunities Fund—Investor Class returned -7.82% during the first quarter of 2026, underperforming the benchmark MSCI AC (All Country) World ex USA Small Cap Index, which was down -0.48%.
• At the sector level, stock selection in the industrials and financials sectors detracted most from relative results.
• As AI adoption increases, proprietary data can become more valuable, creating a reinforcing feedback loop in which AI-driven insights enhance platform utility and further strengthen competitive positioning.

Overview

The Wasatch International Opportunities Fund—Investor Class returned -7.82% during the first quarter of 2026, underperforming the benchmark MSCI AC (All Country) World ex USA Small Cap Index, which was down -0.48%.

On a