The strongest contributor to Wasatch Micro Cap Value Fund performance for the quarter was Bel Fuse, Inc. Axogen, Inc. (AXGN) was also a top contributor, providing surgical solutions for peripheral nerve repair. The greatest detractor from Fund performance for the quarter was Limbach Holdings, Inc. (LMB).
Axogen is compounding business capital at increasing returns which was reflected in Q2 earnings. The stock remains in a down-trend with investors compressing multiples paid on capital invested into the business. The range of potential outcomes remains broad which coincides with historical trends seen in market for this name.
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