SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2023
Sit Balanced Fund
Investments are grouped by economic sectors.
Name of Issuer | Quantity | Fair Value ($) | ||||||
Common Stocks - 61.6% | ||||||||
Consumer Durables - 0.5% | ||||||||
YETI Holdings, Inc. * | 5,500 | 265,210 | ||||||
|
| |||||||
Consumer Non-Durables - 2.4% | ||||||||
Constellation Brands, Inc. | 2,025 | 508,943 | ||||||
Estee Lauder Cos., Inc. - Class A | 975 | 140,936 | ||||||
Mondelez International, Inc. | 3,400 | 235,960 | ||||||
PepsiCo, Inc. | 1,825 | 309,228 | ||||||
|
| |||||||
|
1,195,067 |
| ||||||
|
| |||||||
Consumer Services - 2.1% | ||||||||
McDonald’s Corp. | 1,450 | 381,988 | ||||||
Visa, Inc. | 2,800 | 644,028 | ||||||
|
| |||||||
|
1,026,016 |
| ||||||
|
| |||||||
Electronic Technology - 12.8% | ||||||||
Apple, Inc. | 13,700 | 2,345,577 | ||||||
Applied Materials, Inc. | 2,600 | 359,970 | ||||||
Arista Networks, Inc. * | 765 | 140,706 | ||||||
Broadcom, Inc. | 1,485 | 1,233,411 | ||||||
NVIDIA Corp. | 4,025 | 1,750,835 | ||||||
Palo Alto Networks, Inc. * | 1,835 | 430,197 | ||||||
|
| |||||||
|
6,260,696 |
| ||||||
|
| |||||||
Energy Minerals - 1.7% | ||||||||
ConocoPhillips | 5,775 | 691,845 | ||||||
Shell, PLC, ADR | 2,400 | 154,512 | ||||||
|
| |||||||
|
846,357 |
| ||||||
|
| |||||||
Finance - 3.4% | ||||||||
Ameriprise Financial, Inc. | 1,150 | 379,132 | ||||||
Chubb, Ltd. | 1,400 | 291,452 | ||||||
Goldman Sachs Group, Inc. | 1,600 | 517,712 | ||||||
JPMorgan Chase & Co. | 2,925 | 424,183 | ||||||
|
| |||||||
|
1,612,479 |
| ||||||
|
| |||||||
Health Services - 3.0% | ||||||||
Centene Corp. * | 2,475 | 170,478 | ||||||
HCA Healthcare, Inc. | 850 | 209,083 | ||||||
UnitedHealth Group, Inc. | 2,150 | 1,084,008 | ||||||
|
| |||||||
|
1,463,569 |
| ||||||
|
| |||||||
Health Technology - 3.6% | ||||||||
Abbott Laboratories | 3,550 | 343,818 | ||||||
Dexcom, Inc. * | 5,260 | 490,758 | ||||||
Gilead Sciences, Inc. | 2,225 | 166,741 | ||||||
Johnson & Johnson | 1,250 | 194,687 | ||||||
Thermo Fisher Scientific, Inc. | 1,200 | 607,404 | ||||||
|
| |||||||
|
1,803,408 |
| ||||||
|
| |||||||
Industrial Services - 1.0% | ||||||||
Cheniere Energy, Inc. | 2,900 | 481,284 | ||||||
|
| |||||||
Process Industries - 1.4% | ||||||||
Linde, PLC | 1,225 | 456,129 | ||||||
Sherwin-Williams Co. | 1,000 | 255,050 | ||||||
|
| |||||||
|
711,179 |
| ||||||
|
| |||||||
Producer Manufacturing - 5.2% | ||||||||
Aptiv, PLC * | 2,375 | 234,151 | ||||||
General Dynamics Corp. | 700 | 154,679 | ||||||
Honeywell International, Inc. | 1,450 | 267,873 |
Name of Issuer | Quantity | Fair Value ($) | ||||||
Motorola Solutions, Inc. | 1,400 | 381,136 | ||||||
Northrop Grumman Corp. | 375 | 165,071 | ||||||
Parker-Hannifin Corp. | 1,350 | 525,852 | ||||||
Safran SA, ADR | 11,550 | 452,067 | ||||||
Siemens AG, ADR | 5,175 | 369,754 | ||||||
|
| |||||||
|
2,550,583 |
| ||||||
|
| |||||||
Retail Trade - 6.2% | ||||||||
Amazon.com, Inc. * | 9,700 | 1,233,064 | ||||||
Home Depot, Inc. | 1,825 | 551,442 | ||||||
Lululemon Athletica, Inc. * | 925 | 356,689 | ||||||
Netflix, Inc. * | 460 | 173,696 | ||||||
TJX Cos., Inc. | 5,100 | 453,288 | ||||||
Ulta Beauty, Inc. * | 795 | 317,563 | ||||||
|
| |||||||
|
3,085,742 |
| ||||||
|
| |||||||
Technology Services - 16.4% | ||||||||
Accenture, PLC | 2,025 | 621,898 | ||||||
Adobe, Inc. * | 475 | 242,203 | ||||||
Alphabet, Inc. - Class A * | 12,400 | 1,622,664 | ||||||
Alphabet, Inc. - Class C * | 4,100 | 540,585 | ||||||
Atlassian Corp. * | 1,050 | 211,586 | ||||||
Autodesk, Inc. * | 1,275 | 263,810 | ||||||
Dynatrace, Inc. * | 4,250 | 198,603 | ||||||
Intuit, Inc. | 1,200 | 613,128 | ||||||
Meta Platforms, Inc. * | 310 | 93,065 | ||||||
Microsoft Corp. | 7,800 | 2,462,850 | ||||||
Paycom Software, Inc. | 600 | 155,562 | ||||||
Salesforce, Inc. * | 3,650 | 740,147 | ||||||
ServiceNow, Inc. * | 560 | 313,018 | ||||||
|
| |||||||
|
8,079,119 |
| ||||||
|
| |||||||
Transportation - 1.4% | ||||||||
FedEx Corp. | 975 | 258,297 | ||||||
Union Pacific Corp. | 2,050 | 417,442 | ||||||
|
| |||||||
|
675,739 |
| ||||||
|
| |||||||
Utilities - 0.5% | ||||||||
NextEra Energy, Inc. | 4,140 | 237,181 | ||||||
|
| |||||||
Total Common Stocks | 30,293,629 | |||||||
|
| |||||||
Name of Issuer | Principal Amount ($) | Fair Value ($) | ||||||
Bonds – 31.5% | ||||||||
Asset-Backed Securities - 0.4% | ||||||||
Small Business Administration: | ||||||||
2008-20A 1, 5.17%, 1/1/28 | 10,230 | 9,947 | ||||||
2007-20H 1, 5.78%, 8/1/27 | 9,396 | 9,201 | ||||||
Towd Point Mortgage Trust: | ||||||||
2020-MH1 A1A, 2.18%, 2/25/60 1, 4 | 70,970 | 66,569 | ||||||
2019-MH1 A2, 3.00%, 11/25/58 1, 4 | 100,000 | 97,293 | ||||||
|
| |||||||
|
183,010 |
| ||||||
|
| |||||||
Collateralized Mortgage Obligations - 6.4% | ||||||||
Chase Home Lending Mortgage Trust: | ||||||||
2023-6 A2, 6.00%, 6/25/54 1, 4 | 150,000 | 147,633 |
SEPTEMBER 30, 2023 | 1 |
SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2023
Sit Balanced Fund (Continued)
Name of Issuer | Principal Amount ($) | Fair Value ($) | ||||||
Fannie Mae: | ||||||||
2017-84 JP, 2.75%, 10/25/47 | 16,969 | 14,379 | ||||||
2003-34 A1, 6.00%, 4/25/43 | 23,411 | 23,271 | ||||||
2004-T1 1A1, 6.00%, 1/25/44 | 13,963 | 13,883 | ||||||
1999-17 C, 6.35%, 4/25/29 | 4,313 | 4,292 | ||||||
2001-82 ZA, 6.50%, 1/25/32 | 7,060 | 7,058 | ||||||
2009-30 AG, 6.50%, 5/25/39 | 24,713 | 25,005 | ||||||
2013-28 WD, 6.50%, 5/25/42 | 22,508 | 23,190 | ||||||
2004-T1 1A2, 6.50%, 1/25/44 | 35,966 | 36,158 | ||||||
2004-W9 2A1, 6.50%, 2/25/44 | 24,456 | 24,476 | ||||||
2010-108 AP, 7.00%, 9/25/40 | 294 | 294 | ||||||
2004-T3 1A3, 7.00%, 2/25/44 | 4,856 | 4,961 | ||||||
Freddie Mac: | ||||||||
5280 A, 3.50%, 1/25/50 | 156,367 | 140,673 | ||||||
4812 CZ, 4.00%, 5/15/48 | 162,193 | 146,751 | ||||||
4293 BA, 5.27%, 10/15/47 1 | 7,431 | 7,360 | ||||||
2122 ZE, 6.00%, 2/15/29 | 23,062 | 23,089 | ||||||
2126 C, 6.00%, 2/15/29 | 15,867 | 15,821 | ||||||
2480 Z, 6.00%, 8/15/32 | 18,870 | 18,764 | ||||||
2485 WG, 6.00%, 8/15/32 | 19,396 | 19,484 | ||||||
2575 QE, 6.00%, 2/15/33 | 7,390 | 7,423 | ||||||
2980 QA, 6.00%, 5/15/35 | 10,501 | 10,604 | ||||||
2283 K, 6.50%, 12/15/23 | 74 | 74 | ||||||
2357 ZJ, 6.50%, 9/15/31 | 14,759 | 14,595 | ||||||
4520 HM, 6.50%, 8/15/45 | 12,216 | 12,591 | ||||||
3704 CT, 7.00%, 12/15/36 | 8,096 | 8,373 | ||||||
2238 PZ, 7.50%, 6/15/30 | 6,581 | 6,811 | ||||||
Government National Mortgage Association: | ||||||||
2021-86 WB, 4.74%, 5/20/51 1 | 136,889 | 130,051 | ||||||
2021-104 HT, 5.50%, 6/20/51 | 170,018 | 166,907 | ||||||
2021-27 AW, 5.84%, 2/20/51 1 | 186,955 | 188,317 | ||||||
2015-80 BA, 7.00%, 6/20/45 1 | 7,548 | 7,741 | ||||||
2018-147 AM, 7.00%, 10/20/48 | 24,895 | 25,397 | ||||||
2018-160 DA, 7.00%, 11/20/48 | 22,442 | 22,852 | ||||||
2014-69 W, 7.21%, 11/20/34 1 | 10,943 | 11,275 | ||||||
2013-133 KQ, 7.30%, 8/20/38 1 | 13,040 | 13,521 | ||||||
2005-74 HA, 7.50%, 9/16/35 | 313 | 316 | ||||||
JP Morgan Mortgage Trust: | ||||||||
2021-6 A4, 2.50%, 10/25/51 1, 4 | 291,300 | 246,912 | ||||||
2021-13 A4, 2.50%, 4/25/52 1, 4 | 262,805 | 221,959 | ||||||
2021-6 A12, 5.00%, 10/25/51 1, 4 | 278,666 | 258,436 | ||||||
2021-13 A11, 5.00%, 4/25/52 1, 4 | 284,604 | 259,542 | ||||||
2022-1 A11, 5.00%, 7/25/52 1, 4 | 335,179 | 305,057 | ||||||
2022-2 A11, 5.00%, 8/25/52 1, 4 | 314,663 | 289,470 | ||||||
2023-1 A2, 6.00%, 12/26/53 1, 4 | 145,009 | 141,022 | ||||||
New Residential Mortgage Loan Trust: | ||||||||
2018-3A A1, 4.50%, 5/25/58 1, 4 | 34,206 | 32,117 | ||||||
Sequoia Mortgage Trust: | ||||||||
2020-4 A5, 2.50%, 11/25/50 1, 4 | 40,815 | 35,760 | ||||||
Vendee Mortgage Trust: | ||||||||
2008-1 B, 5.84%, 3/15/25 1 | 6,407 | 6,386 | ||||||
Wells Fargo Mortgaged Backed Securities Trust: |
| |||||||
2020-5 A3, 2.50%, 9/25/50 1, 4 | 33,034 | 28,865 | ||||||
|
| |||||||
|
3,148,916 |
| ||||||
|
| |||||||
Corporate Bonds - 8.6% | ||||||||
American Tower Trust, 5.49%, 3/15/28 4 | 150,000 | 147,653 |
Name of Issuer | Principal Amount ($) | Fair Value ($) | ||||||
Bank of America Corp., 5.20%, 4/25/29 1 | 50,000 | 48,217 | ||||||
British Airways 2020-1 Class B Pass Through | 41,492 | 42,194 | ||||||
Charles Stark Draper Lab., Inc., 4.39%, 9/1/48 | 100,000 | 80,447 | ||||||
Comcast Corp., 4.55%, 1/15/29 | 150,000 | 144,074 | ||||||
Consumers Energy Co., 4.35%, 8/31/64 | 50,000 | 36,735 | ||||||
CVS Pass-Through Trust, 7.51%, 1/10/32 4 | 111,585 | 114,360 | ||||||
Delta Air Lines 2015-1 Class AA Pass | 114,005 | 106,309 | ||||||
Dow Chemical Co., 6.90%, 5/15/53 | 75,000 | 78,697 | ||||||
Duke Energy Florida, LLC: | ||||||||
2.54%, 9/1/29 | 42,928 | 38,851 | ||||||
2.86%, 3/1/33 | 120,000 | 98,178 | ||||||
Entergy Louisiana, LLC, 4.95%, 1/15/45 | 200,000 | 166,989 | ||||||
Equifax, Inc.: | ||||||||
3.10%, 5/15/30 | 100,000 | 83,300 | ||||||
7.00%, 7/1/37 | 116,000 | 116,247 | ||||||
Exelon Corp., 7.60%, 4/1/32 | 75,000 | 80,999 | ||||||
Fairfax Financial Holdings, 7.75%, 7/15/37 | 150,000 | 151,478 | ||||||
First-Citizens Bank & Trust Co. | 175,000 | 166,846 | ||||||
Genuine Parts Co., 1.88%, 11/1/30 | 200,000 | 151,753 | ||||||
Halliburton Co., 7.60%, 8/15/96 4 | 75,000 | 75,058 | ||||||
HEICO Corp., 5.25%, 8/1/28 | 75,000 | 73,174 | ||||||
ITT, LLC, 7.40%, 11/15/25 | 25,000 | 25,176 | ||||||
JPMorgan Chase & Co., 4.59%, 4/26/33 1 | 100,000 | 90,085 | ||||||
KeyBank NA of Ohio, 4.15%, 8/8/25 | 200,000 | 188,333 | ||||||
Leidos, Inc., 7.13%, 7/1/32 | 50,000 | 51,250 | ||||||
Louisville Gas & Electric Co., 5.45%, 4/15/33 | 50,000 | 48,858 | ||||||
Meta Platforms, Inc., 3.85%, 8/15/32 | 150,000 | 133,136 | ||||||
Morgan Stanley, 5.12%, 2/1/29 1 | 175,000 | 168,582 | ||||||
Nationwide Mutual Insurance Co. | 195,000 | 194,993 | ||||||
Northern Trust Corp. (Subordinated), 3 Mo. | 250,000 | 220,125 | ||||||
PacifiCorp, 2.70%, 9/15/30 | 100,000 | 81,682 | ||||||
Polar Tankers, Inc., 5.95%, 5/10/37 4 | 95,717 | 94,703 | ||||||
SBA Tower Trust, 6.60%, 1/15/28 4 | 145,000 | 145,408 | ||||||
Security Benefit Life Insurance Co. | 100,000 | 89,875 | ||||||
Tennessee Gas Pipeline, LLC, 7.00%, 10/15/28 | 213,000 | 220,979 | ||||||
Union Electric Co., 4.00%, 4/1/48 | 100,000 | 73,368 | ||||||
United Airlines 2019-2 Class AA Pass Through | 128,850 | 106,304 | ||||||
UnitedHealth Group, Inc., 5.30%, 2/15/30 | 150,000 | 149,137 | ||||||
Unum Group, 7.25%, 3/15/28 | 25,000 | 25,709 | ||||||
US Bancorp, 5.78%, 6/12/29 1 | 125,000 | 121,804 | ||||||
|
| |||||||
|
4,231,066 |
| ||||||
|
| |||||||
Federal Home Loan Mortgage Corporation - 0.2% |
| |||||||
7.50%, 7/1/29 | 45,161 | 46,018 | ||||||
8.50%, 5/1/31 | 52,823 | 54,394 | ||||||
|
| |||||||
|
100,412 |
| ||||||
|
| |||||||
Federal National Mortgage Association - 2.6% |
| |||||||
4.50%, 7/1/52 | 325,307 | 299,007 | ||||||
4.50%, 9/1/52 | 327,285 | 300,803 | ||||||
5.50%, 8/1/56 | 156,800 | 156,341 | ||||||
6.00%, 7/1/41 | 134,357 | 137,173 |
2 |
SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2023
Sit Balanced Fund (Continued)
Name of Issuer | Principal Amount ($) | Fair Value ($) | ||||||
6.00%, 9/1/53 | 173,965 | 171,835 | ||||||
6.00%, 10/1/53 | 175,000 | 172,857 | ||||||
6.50%, 2/1/24 | 46 | 46 | ||||||
6.50%, 9/1/27 | 14,759 | 14,837 | ||||||
7.00%, 1/1/32 | 4,352 | 4,330 | ||||||
7.00%, 3/1/33 | 8,640 | 8,745 | ||||||
7.00%, 12/1/38 | 8,282 | 8,369 | ||||||
8.41%, 7/15/26 | 750 | 748 | ||||||
|
| |||||||
|
1,275,091 |
| ||||||
|
| |||||||
Government National Mortgage Association - 2.0% |
| |||||||
3.50%, 1/20/52 | 176,625 | 154,964 | ||||||
3.50%, 2/20/52 | 267,431 | 234,637 | ||||||
4.00%, 9/20/52 | 240,062 | 212,302 | ||||||
5.00%, 5/20/48 | 23,905 | 23,165 | ||||||
5.50%, 8/20/62 | 153,824 | 147,882 | ||||||
6.00%, 9/20/53 | 175,000 | 172,281 | ||||||
6.50%, 11/20/38 | 8,914 | 8,930 | ||||||
7.00%, 12/15/24 | 1,441 | 1,403 | ||||||
7.00%, 11/20/27 | 4,050 | 4,063 | ||||||
7.00%, 9/20/29 | 12,494 | 12,701 | ||||||
7.00%, 9/20/38 | 5,827 | 5,981 | ||||||
7.50%, 4/20/32 | 7,721 | 7,777 | ||||||
|
| |||||||
|
986,086 |
| ||||||
|
| |||||||
Taxable Municipal Securities - 6.0% |
| |||||||
Benton & Polk Sch. Dist. No. 17J G.O., | 150,000 | 152,266 | ||||||
Chicago Park Dist., 2.53%, 1/1/34 | 235,000 | 176,201 | ||||||
CO Health Facs. Auth., 3.13%, 5/15/27 | 250,000 | 222,547 | ||||||
Colorado Edu. & Cultural Fac. Auth., 3.97%, | 205,000 | 145,745 | ||||||
Coventry Local Sch. Dist., 2.20%, 11/1/29 | 200,000 | 165,190 | ||||||
LaGrange Co. Regional Utility Dist., 2.98%, | 230,000 | 169,011 | ||||||
Maricopa Co. Industrial Dev. Auth., 3.50%, | 100,000 | 70,442 | ||||||
Massachusetts Edu. Auth.: | ||||||||
4.00%, 1/1/32 | 20,000 | 19,246 | ||||||
4.41%, 7/1/34 | 15,000 | 14,098 | ||||||
4.95%, 7/1/38 | 200,000 | 184,596 | ||||||
5.95%, 7/1/44 | 150,000 | 136,189 | ||||||
MN Hsg. Fin. Agy., 2.31%, 1/1/27 | 135,000 | 124,392 | ||||||
NJ Higher Edu. Student Assit. Auth., 3.50%, | 70,000 | 64,561 | ||||||
NY State Dormitory Auth., 2.69%, 7/1/35 | 200,000 | 144,214 | ||||||
Oregon State Fac. Auth., 2.68%, 7/1/31 | 350,000 | 272,055 | ||||||
Public Fin. Auth., 4.23%, 7/1/32 | 105,000 | 93,780 | ||||||
RI Student Loan Auth., 4.13%, 12/1/27 | 200,000 | 186,344 | ||||||
Texas Children’s Hospital, 3.37%, 10/1/29 17 | 115,000 | 106,219 | ||||||
Utah Charter Sch. Fin. Auth., 2.40%, 10/15/27 | 205,000 | 184,746 | ||||||
VA Hsg. Dev. Auth., 2.13%, 7/25/51 | 218,971 | 156,126 | ||||||
WA State Hsg. Fin. Comm., 3.50%, 7/1/24 4 | 20,000 | 19,535 | ||||||
Wichita Falls, 1.65%, 9/1/28 | 145,000 | 123,304 | ||||||
|
| |||||||
|
2,930,807 |
| ||||||
|
|
Name of Issuer | Principal Amount ($) | Fair Value ($) | ||||||
U.S. Treasury / Federal Agency Securities - 5.3% |
| |||||||
U.S. Treasury - 5.3% | ||||||||
U.S. Treasury Bonds: | ||||||||
3.63%, 2/15/53 | 700,000 | 578,265 | ||||||
4.13%, 8/15/53 | 200,000 | 181,344 | ||||||
U.S. Treasury Notes: | ||||||||
2.75%, 4/30/27 | 950,000 | 888,473 | ||||||
3.50%, 2/15/33 | 750,000 | 688,242 | ||||||
4.50%, 11/15/25 | 250,000 | 247,383 | ||||||
U.S. Treasury Strip 3.59%, 11/15/50 6 | 175,000 | 49,362 | ||||||
|
| |||||||
|
2,633,069 |
| ||||||
|
| |||||||
Total Bonds | 15,488,457 | |||||||
|
| |||||||
Name of Issuer | Quantity | Fair Value ($) | ||||||
Investment Companies 3.2% | ||||||||
BlackRock Enhanced Government Fund | 4,536 | 44,706 | ||||||
BlackRock Income Trust, Inc. | 5,300 | 60,314 | ||||||
BlackRock Taxable Municipal Bond Trust | 10,671 | 161,773 | ||||||
DWS Municipal Income Trust | 9,800 | 75,460 | ||||||
First Trust Mortgage Income Fund | 3,800 | 42,426 | ||||||
MFS Intermediate Income Trust | 63,700 | 170,716 | ||||||
Nuveen AMT-Free Muni Credit Income Fund | 20,900 | 215,479 | ||||||
Nuveen AMT-Free Quality Muni Income Fund | 15,100 | 146,168 | ||||||
Nuveen Multi-Market Income Fund | 3,953 | 22,176 | ||||||
Nuveen Quality Municipal Income Fund | 12,500 | 126,750 | ||||||
Nuveen Taxable Municipal Income Fund | 5,400 | 78,462 | ||||||
Putnam Master Intermediate Income Trust | 61,000 | 184,220 | ||||||
Putnam Premier Income Trust | 40,492 | 135,648 | ||||||
TCW Strategic Income Fund, Inc. | 18,000 | 82,440 | ||||||
|
| |||||||
Total Investment Companies | 1,546,738 | |||||||
|
| |||||||
Short-Term Securities - 3.8% | ||||||||
Fidelity Inst. Money Mkt. Gvt. Fund, 5.27% | 1,879,338 | 1,879,338 | ||||||
|
| |||||||
Total Investments in Securities - 100.1% | 49,208,162 | |||||||
Other Assets and Liabilities, net - (0.1)% | (58,095 | ) | ||||||
|
| |||||||
Net Assets - 100.0% | $ | 49,150,067 | ||||||
|
|
SEPTEMBER 30, 2023 | 3 |
SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2023
Sit Balanced Fund (Continued)
* | Non-income producing security. |
1 | Variable rate security. Rate disclosed is as of September 30, 2023. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions, or, for mortgage-backed securities, are impacted by the individual mortgages which are paying off over time. These securities do not indicate a reference rate and spread in their descriptions. |
4 | 144A Restricted Security. The total value of such securities as of September 30, 2023 was $3,124,856 and represented 6.4% of net assets. These securities have been determined to be liquid by the Adviser in accordance with guidelines established by the Board of Directors. |
6 | Zero coupon or convertible capital appreciation bond, for which the rate disclosed is either the effective yield on purchase date or the coupon rate to be paid upon conversion to coupon paying. |
8 | Securities the income from which is treated as a tax preference that is included in alternative minimum taxable income for purposes of computing federal alternative minimum tax (AMT). At September 30, 2023, 0.1% of net assets in the Fund was invested in such securities. |
17 | Security that is either an absolute and unconditional obligation of the United States Government or is collateralized by securities, loans, or leases guaranteed by the U.S. Government or its agencies or instrumentalities. |
ADR — American Depositary Receipt |
LLC — Limited Liability Company |
PLC — Public Limited Company |
Numeric footnotes not disclosed are not applicable to this Schedule of Investments.
A summary of the levels for the Fund’s investments as of September 30, 2023 is as follows:
Investment in Securities | ||||||||||||||||
Level 1 |
Level 2 |
Level 3 | ||||||||||||||
Quoted Prices ($) | Other significant observable inputs ($) | Significant unobservable inputs ($) | Total ($) | |||||||||||||
Common Stocks** | 30,293,629 | — | — | 30,293,629 | ||||||||||||
Asset-Backed Securities | — | 183,010 | — | 183,010 | ||||||||||||
Collateralized Mortgage Obligations | — | 3,148,916 | — | 3,148,916 | ||||||||||||
Corporate Bonds | — | 4,231,066 | — | 4,231,066 | ||||||||||||
Federal Home Loan Mortgage Corporation | — | 100,412 | — | 100,412 | ||||||||||||
Federal National Mortgage Association | — | 1,275,091 | — | 1,275,091 | ||||||||||||
Government National Mortgage Association | — | 986,086 | — | 986,086 | ||||||||||||
Taxable Municipal Securities | — | 2,930,807 | — | 2,930,807 | ||||||||||||
U.S. Treasury / Federal Agency Securities | — | 2,633,069 | — | 2,633,069 | ||||||||||||
Investment Companies | 1,546,738 | — | — | 1,546,738 | ||||||||||||
Short-Term Securities | 1,879,338 | — | — | 1,879,338 | ||||||||||||
Total: | 33,719,705 | 15,488,457 | — | 49,208,162 |
** | For equity securities categorized in a single level, refer to the detail above 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.
4 |