SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2022
Sit Dividend Growth Fund
Investments are grouped by economic sectors.
Name of Issuer | Quantity | Fair Value ($) | ||||||
Common Stocks - 99.5% | ||||||||
Commercial Services - 1.2% | ||||||||
Booz Allen Hamilton Holding Corp. | 25,850 | 2,387,248 | ||||||
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Communications - 1.2% | ||||||||
American Tower Corp. | 11,800 | 2,533,460 | ||||||
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Consumer Durables - 0.6% | ||||||||
Activision Blizzard, Inc. | 16,325 | 1,213,600 | ||||||
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Consumer Non-Durables - 5.9% | ||||||||
Constellation Brands, Inc. | 11,475 | 2,635,578 | ||||||
Mondelez International, Inc. | 48,800 | 2,675,704 | ||||||
PepsiCo, Inc. | 21,925 | 3,579,476 | ||||||
Procter & Gamble Co. | 24,950 | 3,149,937 | ||||||
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12,040,695 | ||||||||
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Consumer Services - 3.1% | ||||||||
McDonald’s Corp. | 9,750 | 2,249,715 | ||||||
Starbucks Corp. | 15,300 | 1,289,178 | ||||||
Visa, Inc. | 15,530 | 2,758,904 | ||||||
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6,297,797 | ||||||||
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Electronic Technology - 14.4% | ||||||||
Analog Devices, Inc. | 25,325 | 3,528,786 | ||||||
Apple, Inc. | 82,925 | 11,460,235 | ||||||
Applied Materials, Inc. | 26,250 | 2,150,662 | ||||||
Broadcom, Inc. | 12,655 | 5,618,947 | ||||||
Marvell Technology, Inc. | 34,300 | 1,471,813 | ||||||
Qualcomm, Inc. | 8,575 | 968,804 | ||||||
Skyworks Solutions, Inc. | 16,850 | 1,436,799 | ||||||
TE Connectivity, Ltd. | 24,150 | 2,665,194 | ||||||
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29,301,240 | ||||||||
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Energy Minerals - 2.9% | ||||||||
ConocoPhillips | 57,650 | 5,899,901 | ||||||
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Finance - 14.5% | ||||||||
Alexandria Real Estate Equities, Inc. | 15,350 | 2,151,917 | ||||||
American International Group, Inc. | 51,875 | 2,463,025 | ||||||
Ameriprise Financial, Inc. | 8,950 | 2,254,953 | ||||||
Chubb, Ltd. | 9,900 | 1,800,612 | ||||||
Everest Re Group, Ltd. | 9,225 | 2,421,009 | ||||||
Goldman Sachs Group, Inc. | 3,850 | 1,128,242 | ||||||
MetLife, Inc. | 28,475 | 1,730,710 | ||||||
Morgan Stanley | 43,275 | 3,419,158 | ||||||
Realty Income Corp. | 60,175 | 3,502,185 | ||||||
Regions Financial Corp. | 121,150 | 2,431,481 | ||||||
Reinsurance Group of America, Inc. | 15,750 | 1,981,507 | ||||||
Truist Financial Corp. | 36,400 | 1,584,856 | ||||||
Wells Fargo & Co. | 68,150 | 2,740,993 | ||||||
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29,610,648 | ||||||||
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Health Services - 4.2% | ||||||||
HCA Healthcare, Inc. | 13,175 | 2,421,433 | ||||||
Quest Diagnostics, Inc. | 19,150 | 2,349,514 | ||||||
UnitedHealth Group, Inc. | 7,625 | 3,850,930 | ||||||
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8,621,877 | ||||||||
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Health Technology - 12.9% | ||||||||
Abbott Laboratories | 29,050 | 2,810,878 | ||||||
Agilent Technologies, Inc. | 13,850 | 1,683,468 |
Name of Issuer | Quantity | Fair Value ($) | ||||||
AstraZeneca, PLC, ADR | 57,850 | 3,172,494 | ||||||
Baxter International, Inc. | 38,850 | 2,092,461 | ||||||
Bristol-Myers Squibb Co. | 45,150 | 3,209,713 | ||||||
Johnson & Johnson | 39,775 | 6,497,644 | ||||||
Medtronic, PLC | 47,350 | 3,823,512 | ||||||
Thermo Fisher Scientific, Inc. | 5,925 | 3,005,101 | ||||||
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26,295,271 | ||||||||
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Industrial Services - 3.2% | ||||||||
Jacobs Solutions, Inc. | 17,000 | 1,844,330 | ||||||
Waste Management, Inc. | 11,025 | 1,766,315 | ||||||
Williams Cos., Inc. | 103,225 | 2,955,332 | ||||||
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6,565,977 | ||||||||
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Non-Energy Minerals - 0.5% | ||||||||
BHP Group, Ltd., ADR | 22,475 | 1,124,649 | ||||||
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Process Industries - 2.9% | ||||||||
Air Products & Chemicals, Inc. | 13,575 | 3,159,310 | ||||||
DuPont de Nemours, Inc. | 19,750 | 995,400 | ||||||
Nutrien, Ltd. | 21,450 | 1,788,501 | ||||||
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5,943,211 | ||||||||
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Producer Manufacturing - 6.6% | ||||||||
Carlisle Cos, Inc. | 9,650 | 2,705,957 | ||||||
Eaton Corp., PLC | 20,000 | 2,667,200 | ||||||
General Dynamics Corp. | 13,192 | 2,798,947 | ||||||
Northrop Grumman Corp. | 4,975 | 2,339,842 | ||||||
Parker-Hannifin Corp. | 5,175 | 1,253,954 | ||||||
Siemens AG, ADR | 33,375 | 1,633,706 | ||||||
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13,399,606 | ||||||||
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Retail Trade - 4.7% | ||||||||
CVS Health Corp. | 31,075 | 2,963,623 | ||||||
Home Depot, Inc. | 7,325 | 2,021,260 | ||||||
Target Corp. | 11,175 | 1,658,258 | ||||||
TJX Cos., Inc. | 46,125 | 2,865,285 | ||||||
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9,508,426 | ||||||||
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Technology Services - 12.7% | ||||||||
Accenture, PLC | 11,175 | 2,875,327 | ||||||
Alphabet, Inc. - Class A * | 37,900 | 3,625,135 | ||||||
Genpact, Ltd. | 56,500 | 2,473,005 | ||||||
Intuit, Inc. | 5,175 | 2,004,381 | ||||||
Microsoft Corp. | 50,440 | 11,747,476 | ||||||
Oracle Corp. | 49,825 | 3,042,813 | ||||||
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25,768,137 | ||||||||
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Transportation - 2.0% | ||||||||
FedEx Corp. | 8,376 | 1,243,585 | ||||||
Union Pacific Corp. | 14,325 | 2,790,796 | ||||||
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4,034,381 | ||||||||
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Utilities - 6.0% | ||||||||
AES Corp. | 44,100 | 996,660 | ||||||
Alliant Energy Corp. | 47,875 | 2,536,896 | ||||||
Entergy Corp. | 29,200 | 2,938,396 | ||||||
NextEra Energy, Inc. | 39,400 | 3,089,354 |
SEPTEMBER 30, 2022 | 1 |
SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2022
Sit Dividend Growth Fund (Continued)
Name of Issuer | Quantity | Fair Value ($) | ||||||
Xcel Energy, Inc. | 40,375 | 2,584,000 | ||||||
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12,145,306 | ||||||||
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Total Common Stocks | 202,691,430 | |||||||
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Short-Term Securities - 0.8% | ||||||||
Fidelity Inst. Money Mkt. Gvt. Fund, 2.74% | 1,571,705 | 1,571,705 | ||||||
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Total Investments in Securities - 100.3% | 204,263,135 | |||||||
Other Assets and Liabilities, net - (0.3)% | (675,436 | ) | ||||||
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Net Assets - 100.0% | $203,587,699 | |||||||
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* | Non-income producing security. |
ADR — American Depositary Receipt
PLC — Public Limited Company
Numeric footnotes not disclosed are not applicable to this Schedule of Investments.
A summary of the levels for the Fund’s investments as of September 30, 2022 is as follows:
Investment in Securities | ||||||||||||||||
Level 1 Quoted Prices ($) | Level 2 Other significant observable inputs ($) | Level 3 Significant unobservable inputs ($) | Total ($) | |||||||||||||
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Common Stocks** | 202,691,430 | — | — | 202,691,430 | ||||||||||||
Short-Term Securities | 1,571,705 | — | — | 1,571,705 | ||||||||||||
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Total: | 204,263,135 | — | — | 204,263,135 | ||||||||||||
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** | For equity securities categorized in a single level, refer to the Schedule of Investments for further breakdown. |
There were no transfers into or out of level 3 during the reporting period.
For additional information about significant accounting policies, including valuation of investments, refer to the Fund’s most recent annual report.
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