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Wasatch Global Investors: First Quarter 2024 Investor Letter

Wasatch Global Investors, an asset management company, recently released its “Wasatch Small Cap Growth Strategy” first-quarter 2024 investor letter. The letter provides insights into the performance of their strategy during the first quarter. The strategy showed gains but fell short of the benchmark, the Russell 2000 Growth Index, which saw a rise of 7.58%. The broader Russell 2000 Index also outperformed the strategy, increasing by 5.18% in the same period.

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Top Holdings and Market Trends

The investor letter highlighted the influence of holdings in health care and consumer staples, as well as the absence of exposure in materials, utilities, and communication services, on the relative performance of the strategy. Additionally, the letter mentioned that holdings in information technology, consumer discretionary, and industrials had a negative impact on performance. Investors are encouraged to review the fund’s top 5 holdings to identify potential opportunities in 2024.

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Focus on Medpace Holdings, Inc.

The investor letter specifically highlighted Medpace Holdings, Inc. (NASDAQ:MEDP) as a significant contributor to the strategy’s performance in the first quarter. Medpace Holdings, Inc. is a clinical research-based drug and medical device development services provider. The stock exhibited a one-month return of -0.34% and gained 81.36% of its value over the last 52 weeks. As of June 11, 2024, Medpace Holdings, Inc. stock closed at $397.17 per share with a market capitalization of $12.306 billion.

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Insights on Medpace Holdings, Inc.

The investor letter shared insights on Medpace Holdings, Inc., emphasizing its role as a contract research organization supplying clinical development services to small biotechnology businesses. The company demonstrated strong revenue and earnings growth, benefiting from optimism around lower interest rates facilitating funding for clinical development. Despite not being a traditional biotech company, Medpace provided exposure to the industry with promising growth and solid fundamentals.

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Diversifying Investment Strategies

While Medpace Holdings, Inc. showcased promising growth potential, the investor letter highlighted the importance of considering AI stocks for higher returns within a shorter timeframe. Investing in AI stocks can offer opportunities for substantial growth and diversification within a portfolio.

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Conclusion

Overall, the investor letter provided valuable insights into the performance of the Wasatch Small Cap Growth Strategy and highlighted key stocks like Medpace Holdings, Inc. AI legalese decoder can assist investors in navigating complex investment information and making data-driven decisions to enhance their portfolio performance. By leveraging AI technology, investors can stay informed about market trends, identify lucrative investment opportunities, and optimize their strategies for financial success.

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