# Wasatch Funds

Wasatch Funds is an Asset Manager based in Salt Lake City, United States.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** Salt Lake City, United States
- **Region:** Europe
- **Address:** Salt Lake City, UT, United States
- **Founded:** 1975
- **Assets under management:** Approximately $15B (Altss estimate)
- **Website:** wasatchfunds.com

## Regulatory record

- **Reports private funds:** No

## About

Samuel D. Stewart founded Wasatch Funds in Salt Lake City in 1975, initially managing money for individuals and families. The firm transitioned to a mutual-fund structure in the 1980s, offering U.S. small-cap and micro-cap growth strategies under the Wasatch brand. Stewart serves as Chief Investment Officer alongside President and portfolio manager J. B. Taylor. Wasatch Funds invests primarily in small-cap and micro-cap growth stocks, with a fundamental research process that examines company financials, management quality, and industry position. The firm has expanded into international small-cap and mid-cap mandates, including a dedicated Europe strategy managed from its Munich office. Portfolio companies have included names such as Amedisys Inc., Blackline Inc., and The Honest Company (per historical filings). The firm typically holds positions for 3-5 years and favors companies with strong free-cash-flow profiles. The firm runs about $15 billion in assets (Altss estimate) across a range of mutual funds and separately managed accounts. Through its Munich office, Wasatch maintains a European research presence. In 2023, the firm added an environmental, social, and governance (ESG) integration framework (per the firm's official communications). A structural differentiator is Wasatch's concentrated, high-conviction portfolio construction, typically holding 50-70 names per fund. The firm's long-tenured investment team, including Stewart since inception, provides continuity. Its focus on small-cap growth with an international sleeve sets it apart from many US-only small-cap managers.

## Sectors

- Enterprise Software
- Digital Health
- FinTech
- Healthcare Services
- AI/ML
- Industrial Tech
- Consumer

## Offices

- Munich, Germany

## People

- Samuel D. Stewart — Chief Investment Officer & Portfolio Manager
- J. B. Taylor — President & Portfolio Manager

## Questions

### Who runs investment decisions at Wasatch Funds?

Samuel D. Stewart, founder and Chief Investment Officer, has led the firm's investment process since 1975. Portfolio management is shared with J. B. Taylor, President and portfolio manager, along with a team of sector-focused analysts (per the firm's official communications).

### How does Wasatch source proprietary deal flow?

Wasatch relies on fundamental bottom-up research, analyzing public filings, conducting management meetings, and leveraging relationships with small-cap broker-dealers. The firm does not use a dedicated proprietary flow network but identifies opportunities through direct company engagement and third-party referrals.

### What investment stages does Wasatch typically target?

Wasatch focuses on growth-stage public equities, primarily small-cap and micro-cap companies with market capitalizations under $5 billion. It also runs international small-cap and mid-cap strategies. It does not participate in venture capital or private equity.

### Which sectors does Wasatch explicitly avoid?

Wasatch does not have formal sector exclusion lists but has historically underweighted or avoided heavily regulated sectors like utilities and real estate, favoring technology, healthcare, and industrial growth stocks.

### How is Wasatch related to the broader Stewart family?

Wasatch Funds was founded by Samuel D. Stewart, but there is no public disclosure of a direct family-office umbrella or wealth origin from a specific fortune. The firm operates independently as a registered investment adviser.

## Related profiles

- [Arcserve](https://altss.com/profile/arcserve-usa)
- [Stifel Nicolaus](https://altss.com/profile/stifel-nicolaus)

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/wasatch-funds

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