wasatch funds inc po box 2172 milwaukee wi 53201 www wasatchfunds com 800 551 1700 1 letter to shareholders 2 core growth fund management discussion 4 portfolio summary 5 global science & technology 6 7 heritage 8 9 international 10 11 opportunities 12 13 micro cap 14 15 value 16 17 small 18 19 20 21 strategic income 22 23 ultra 24 25 hoisington us treasury 26 27 operating expenses 28 schedule of investments 30 statements assets and liabilities 62 operations 65 changes in net 68 financial highlights 73 notes 79 report independent registered public accounting firm 88 directors officers 89 supplemental information 90 proxy voting policies procedures record quarterly holdings disclosure on form n q service providers