NPORT-EX 2 SI80SitBalancedFd.htm FOR VALIDATION PURPOSES ONLY - [162015.BAL]

SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2021

 

Sit Balanced Fund

Investments are grouped by economic sectors.

 

Name of Issuer   

    

    

Quantity

      Fair Value ($)  

Common Stocks - 63.0%

      

Communications - 1.7%

      

American Tower Corp.

      2,600        621,556  

Verizon Communications, Inc.

      7,100        412,865  
     

 

 

  
        1,034,421  
     

 

 

  

Consumer Durables - 1.0%

      

YETI Holdings, Inc. *

     8,100        584,901  
     

 

 

  

Consumer Non-Durables - 4.2%

      

Conagra Brands, Inc.

      8,900        334,640  

Constellation Brands, Inc.

      2,275        518,700  

Estee Lauder Cos., Inc. - Class A

      2,275        661,684  

Mondelez International, Inc.

      6,300        368,739  

NIKE, Inc.

      2,800        372,092  

PepsiCo, Inc.

      2,475        350,089  
     

 

 

  
        2,605,944  
     

 

 

  

Consumer Services - 3.5%

      

McDonald’s Corp.

      2,300        515,522  

Starbucks Corp.

      4,850        529,960  

Visa, Inc.

      5,100        1,079,823  
     

 

 

  
        2,125,305  
     

 

 

  

Electronic Technology - 9.4%

      

Apple, Inc.

      18,125        2,213,969  

Applied Materials, Inc.

      7,825        1,045,420  

Broadcom, Inc.

      1,660        769,676  

Ciena Corp. *

     4,450        243,504  

Keysight Technologies, Inc. *

     4,275        613,035  

NVIDIA Corp.

      1,285        686,100  

Qualcomm, Inc.

      1,625        215,459  
     

 

 

  
        5,787,163  
     

 

 

  

Finance - 5.1%

      

Ameriprise Financial, Inc.

      2,250        523,012  

Aon, PLC

      1,900        437,209  

Chubb, Ltd.

      2,550        402,824  

First Republic Bank

      1,750        291,812  

Goldman Sachs Group, Inc.

      2,100        686,700  

JPMorgan Chase & Co.

      3,425        521,388  

T Rowe Price Group, Inc.

      1,550        265,980  
     

 

 

  
        3,128,925  
     

 

 

  

Health Services - 3.1%

      

HCA Healthcare, Inc.

      3,150        593,271  

UnitedHealth Group, Inc.

      3,475        1,292,943  
     

 

 

  
        1,886,214  
     

 

 

  

Health Technology - 6.4%

      

Abbott Laboratories

      3,550        425,432  

AbbVie, Inc.

      3,825        413,941  

Bristol-Myers Squibb Co.

      7,300        460,849  

Dexcom, Inc. *

     1,590        571,430  

Intuitive Surgical, Inc. *

     620        458,143  
Name of Issuer   

    

    

Quantity

      Fair Value ($)  

Johnson & Johnson

      3,000        493,050  

Medtronic, PLC

      4,375        516,819  

Thermo Fisher Scientific, Inc.

      1,350        616,113  
     

 

 

  
        3,955,777  
     

 

 

  

Process Industries - 1.6%

      

Ecolab, Inc.

      1,775        379,974  

Linde, PLC

      625        175,088  

Sherwin-Williams Co.

      600        442,806  
     

 

 

  
        997,868  
     

 

 

  

Producer Manufacturing - 3.2%

      

Honeywell International, Inc.

      2,275        493,834  

Motorola Solutions, Inc.

      1,400        263,270  

Northrop Grumman Corp.

      500        161,820  

Parker-Hannifin Corp.

      450        141,944  

Safran SA, ADR *

     11,550        393,162  

Siemens AG, ADR

      2,000        164,592  

Trane Technologies, PLC

      2,175        360,093  
     

 

 

  
        1,978,715  
     

 

 

  

Retail Trade - 5.6%

      

Amazon.com, Inc. *

     540        1,670,803  

CVS Health Corp.

      5,800        436,334  

Home Depot, Inc.

      2,050        625,762  

TJX Cos., Inc.

      6,550        433,282  

Ulta Beauty, Inc. *

     795        245,790  
     

 

 

  
        3,411,971  
     

 

 

  

Technology Services - 16.1%

      

Accenture, PLC

      2,025        559,406  

Adobe, Inc. *

     1,300        617,981  

Alphabet, Inc. - Class A *

     620        1,278,762  

Alphabet, Inc. - Class C *

     205        424,069  

Atlassian Corp., PLC *

     2,500        526,900  

Autodesk, Inc. *

     1,600        443,440  

DocuSign, Inc. *

     525        106,286  

Dynatrace, Inc. *

     5,975        288,234  

Facebook, Inc. *

     3,065        902,734  

Intuit, Inc.

      1,200        459,672  

Microsoft Corp.

      7,800        1,839,006  

Paycom Software, Inc. *

     600        222,036  

PayPal Holdings, Inc. *

     3,300        801,372  

RingCentral, Inc. *

     150        44,682  

salesforce.com, Inc. *

     3,650        773,326  

ServiceNow, Inc. *

     560        280,062  

Splunk, Inc. *

     1,950        264,186  

Twilio, Inc. *

     175        59,633  
     

 

 

  
        9,891,787  
     

 

 

  
 

 

MARCH 31, 2021   1

SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2021

 

Sit Balanced Fund (Continued)

 

Name of Issuer   

Quantity
/Principal

Amount ($)

      Fair Value ($)  

Transportation - 1.6%

      

FedEx Corp.

      1,750        497,070  

Union Pacific Corp.

      2,050        451,840  
     

 

 

  
        948,910  
     

 

 

  

Utilities - 0.5%

      

NextEra Energy, Inc.

      4,140        313,025  
     

 

 

  

Total Common Stocks
(cost: $21,938,905)

         38,650,926  
     

 

 

  

Bonds - 30.5%

      

Asset-Backed Securities - 1.1%

      

Bayview Opportunity Master Fund,
2017-SPL1 A, 4.00%, 10/28/64 1, 4

      41,961        43,100  

New Century Home Equity Loan Trust,
2005-A A4W, 4.71%, 8/25/35 14

     3,139        3,176  

OSCAR US Funding Trust VII, LLC,
2017-2A A4, 2.76%, 12/10/24 4

     70,452        71,302  

Small Business Administration:

      

2008-20A 1, 5.17%, 1/1/28

      27,473        29,996  

2007-20H 1, 5.78%, 8/1/27

      24,561        26,489  

Towd Point Mortgage Trust:

      

2020-MH1 A1A, 2.18%, 2/25/60 1, 4

      153,664        155,405  

2019-MH1 A2, 3.00%, 11/25/58 1, 4

      100,000        102,583  

2019-SJ3 A2, 3.00%, 11/25/59 1, 4

      125,000        126,619  

2019-SJ1 A1, 3.75%, 11/25/58 1, 4

      26,097        26,121  

2019-SJ1 A2, 4.17%, 11/25/58 1, 4

      100,000        101,163  
     

 

 

  
        685,954  
     

 

 

  

Collateralized Mortgage Obligations - 4.2%

 

   

Fannie Mae:

      

2017-84 JP, 2.75%, 10/25/47

      42,254        44,630  

2003-34 A1, 6.00%, 4/25/43

      32,239        37,343  

2004-T1 1A1, 6.00%, 1/25/44

      19,724        22,779  

1999-17 C, 6.35%, 4/25/29

      9,438        10,584  

2001-82 ZA, 6.50%, 1/25/32

      13,463        15,324  

2009-30 AG, 6.50%, 5/25/39

      40,179        46,762  

2013-28 WD, 6.50%, 5/25/42

      39,868        47,298  

2004-T1 1A2, 6.50%, 1/25/44

      62,288        72,899  

2004-W9 2A1, 6.50%, 2/25/44

      35,660        41,679  

2010-108 AP, 7.00%, 9/25/40

      1,545        1,802  

2004-T3, 1A3, 7.00%, 2/25/44

      6,617        7,887  

1993-21 KA, 7.70%, 3/25/23

      12,002        12,560  

Freddie Mac:

      

4784 BV, 3.50%, 12/15/32

      100,000        100,570  

4293 BA, 5.28%, 10/15/47 1

     12,057        13,894  

2122 ZE, 6.00%, 2/15/29

      50,886        58,290  

2126 C, 6.00%, 2/15/29

      31,084        35,192  

2485 WG, 6.00%, 8/15/32

      31,855        36,506  

2480 Z, 6.00%, 8/15/32

      31,026        35,313  

2575 QE, 6.00%, 2/15/33

      15,557        17,889  

2980 QA, 6.00%, 5/15/35

      16,440        19,360  

2283 K, 6.50%, 12/15/23

      3,058        3,234  
Name of Issuer   

    

Principal
Amount ($)

      Fair Value ($)  

2357 ZJ, 6.50%, 9/15/31

      18,489        20,940  

4520 HM, 6.50%, 8/15/45

      23,943        28,507  

3704 CT, 7.00%, 12/15/36

      13,953        16,864  

2238 PZ, 7.50%, 6/15/30

      12,457        14,853  

Government National Mortgage Association:

      

2021-27 CW, 5.00%, 2/20/51 1

     174,410        205,544  

2021-27 AW, 5.97%, 2/20/51 1

     249,165        301,867  

2015-80 BA, 6.99%, 6/20/45 1

     20,434        23,599  

2018-147 AM, 7.00%, 10/20/48

      65,469        71,857  

2018-160 DA, 7.00%, 11/20/48

      61,523        69,321  

2014-69 W, 7.20%, 11/20/34 1

     23,086        26,988  

2013-133 KQ, 7.31%, 8/20/38 1

     24,111        28,556  

2005-74 HA, 7.50%, 9/16/35

      6,217        6,652  

JP Morgan Mortgage Trust:

      

2021-3 A4, 2.50%, 7/1/51 1, 4

      196,981        202,593  

2019-HYB1 A5A, 3.00%, 10/25/49 1, 4

      93,792        95,683  

2020-8 A3, 3.00%, 3/25/51 1, 4

      41,612        42,661  

2019-8 A4, 3.50%, 3/25/50 1, 4

      27,773        27,923  

2019-9 A8, 3.50%, 5/25/50 1, 4

      125,000        126,328  

2020-2 A4, 3.50%, 7/25/50 1, 4

      59,236        59,756  

New Residential Mortgage Loan Trust:

      

2018-3A A1, 4.50%, 5/25/58 1, 4

      60,926        66,030  

PMT Loan Trust: 2013-J1 A11, 3.50%, 9/25/43 1, 4

      56,149        57,020  

Sequoia Mortgage Trust:

      

2020-4 A5, 2.50%, 11/25/50 1, 4

      84,927        87,137  

2019-5 A4, 3.50%, 12/25/49 1, 4

      37,624        38,076  

2020-2 A4, 3.50%, 3/25/50 1, 4

      62,744        63,599  

Vendee Mortgage Trust:

      

1994-2 2, 6.02%, 5/15/24 1

     4,837        4,912  

2008-1 B, 6.17%, 3/15/25 1

     10,115        11,615  

Wells Fargo Mortgaged Backed Securities Trust:

      

2020-5 A3, 2.50%, 9/25/50 1, 4

      67,448        68,128  

2020-2 A17, 3.00%, 12/25/49 1, 4

      66,645        67,196  

2020-2 A3, 3.00%, 12/25/49 1, 4

      55,527        56,296  
     

 

 

  
        2,572,296  
     

 

 

  

Corporate Bonds - 11.8%

 

   

American Airlines, 3.20%, 6/15/28

      80,950        80,585  

American Financial Group, 5.25%, 4/2/30

      200,000        236,679  

AXIS Specialty Finance, 3.90%, 7/15/29

      100,000        107,394  

Baker Hughes a GE Co., LLC, 3.34%, 12/15/27

      200,000        213,564  

Bank of America Corp.:

      

3.25%, 10/21/27

      100,000        107,455  

3 Mo. Libor + 1.04, 3.42, 12/20/28 1

     100,000        107,196  

Booking Holdings, Inc., 4.63%, 4/13/30

      150,000        174,614  

British Airways 2013-1 Class A Pass Through Trust, 4.63%, 6/20/24 4

     178,329        184,981  

Burlington Resources, LLC, 7.40%, 12/1/31

      50,000        70,680  
 

 

2

SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2021

 

Sit Balanced Fund (Continued)

 

Name of Issuer   

    

Principal
Amount ($)

      Fair Value ($)  

Cabot Corp., 3.40%, 9/15/26

      183,000        192,192  

Canadian Pacific Railway Co., 7.13%, 10/15/31

      100,000        138,457  

Charles Stark Draper Laboratory, Inc., 4.39%, 9/1/48

      100,000        106,926  

CNO Financial Group, Inc., 5.25%, 5/30/29

      100,000        115,175  

Conagra Brands, Inc., 7.00%, 10/1/28

      150,000        193,891  

Concho Resources, Inc., 2.40%, 2/15/31

      200,000        186,062  

ConocoPhillips Co., 6.95%, 4/15/29

      75,000        99,726  

Cox Communications, Inc., 8.38%, 3/1/39 4

     100,000        161,796  

Delta Air Lines 2015-1 Class A Pass

      

Through Trust, 3.88%, 7/30/27

      152,209        154,450  

Delta Air Lines, Inc./SkyMiles, 4.75%, 10/20/28 4

     200,000        217,375  

Doric Nimrod Air Alpha 2013-1 Trust, 5.25%, 5/30/23 4

     28,899        28,173  

Doric Nimrod Air Finance Alpha 2012-1

      

Trust, 5.13%, 11/30/22 4

     21,052        20,971  

Duke Energy Florida, LLC, 2.54%, 9/1/29

      50,000        51,305  

Entergy Louisiana, LLC, 4.95%, 1/15/45

      150,000        162,598  

Equifax, Inc., 6.90%, 7/1/28

      150,000        186,763  

Equinor ASA, 7.15%, 11/15/25

      150,000        187,475  

Flex, Ltd., 4.88%, 5/12/30

      200,000        226,305  

Fulton Financial Corp. (Subordinated), 4.50%, 11/15/24

      72,000        80,288  

Georgia-Pacific, LLC, 7.38%, 12/1/25

      100,000        125,623  

ITT, LLC, 7.40%, 11/15/25

      25,000        30,762  

JetBlue Airways, 4.00%, 11/15/32

      250,000        269,522  

Johnson & Johnson, 3.55%, 3/1/36

      150,000        167,334  

JPMorgan Chase & Co.:

      

3.51%, 1/23/29 1

     50,000        54,037  

8.75%, 9/1/30

      100,000        147,556  

Lincoln National Corp., 7.00%, 6/15/40

      100,000        143,455  

Mercury General Corp., 4.40%, 3/15/27

      100,000        112,783  

Northern Trust Corp. (Subordinated), 3 Mo. Libor + 1.13, 3.38%, 5/8/32 1

     150,000        160,826  

Oglethorpe Power Corp., 6.19%, 1/1/31 4

     150,000        187,608  

Polar Tankers, Inc., 5.95%, 5/10/37 4

     100,000        123,861  

Principal Financial Group, Inc., 3 Mo. Libor + 3.04, 3.24%, 5/15/55 1

     100,000        98,250  

Schlumberger Investment SA, 2.65%, 6/26/30

      150,000        150,657  

Security Benefit Life Insurance Co. (Subordinated), 7.45%, 10/1/33 4

     100,000        113,426  

Simon Property Group LP, 2.45%, 9/13/29

      150,000        148,392  

Southwest Airlines Co., 2.63%, 2/10/30

      185,000        181,563  

Spirit Airlines 2015-1A Trust, 4.10%, 4/1/28

      123,916        123,680  

Suncor Energy, Inc., 5.35%, 7/15/33

      63,000        73,932  

Truist Bank, (Subordinated), 2.25%, 3/11/30

      100,000        97,510  

Tyco Intl. Finance, 3.90%, 2/14/26

      200,000        215,118  

United Airlines 2013-1 Class A Pass Through Trust, 4.30%, 8/15/25

      169,471        175,996  
Name of Issuer   

    

Principal
Amount ($)

      Fair Value ($)  

United Airlines 2015-1 Class A Pass Through Trust, 3.70%, 12/1/22

      125,000        126,704  

Unum Group, 7.25%, 3/15/28

      25,000        31,655  

Wachovia Corp., (Subordinated), 7.57%, 8/1/26 14

     100,000        127,794  

Webster Financial Corp., 4.38%, 2/15/24

      125,000        133,852  

WestRock MWV, LLC, 7.95%, 2/15/31

      100,000        138,924  
     

 

 

  
        7,253,896  
     

 

 

  

Federal Home Loan Mortgage Corporation - 0.2%

 

   

6.50%, 2/1/22

      866        869  

7.50%, 7/1/29

      97,562        113,809  

8.00%, 2/1/34

      11,508        13,613  

8.50%, 9/1/24

      3,932        3,976  
     

 

 

  
        132,267  
     

 

 

  

Federal National Mortgage Association - 0.7%

 

   

5.50%, 10/1/33

      52,993        59,745  

6.50%, 2/1/24

      10,364        10,807  

6.50%, 9/1/27

      33,822        37,963  

6.50%, 6/1/40

      92,686        106,490  

7.00%, 1/1/32

      10,047        10,970  

7.00%, 3/1/33

      18,178        20,498  

7.00%, 12/1/38

      31,933        35,409  

8.00%, 6/1/24

      6,866        7,317  

8.00%, 1/1/31

      9,087        9,186  

8.00%, 2/1/31

      17,264        21,187  

8.00%, 9/1/37

      57,455        69,922  

8.43%, 7/15/26

      2,307        2,357  

8.50%, 10/1/30

      22,193        26,137  

10.00%, 6/1/31

      22,874        25,455  
     

 

 

  
        443,443  
     

 

 

  

Government National Mortgage Association - 0.3%

 

   

5.00%, 5/20/48

      66,835        74,321  

5.75%, 12/15/22

      10,709        11,457  

6.50%, 11/20/38

      14,787        16,887  

7.00%, 12/15/24

      6,627        7,042  

7.00%, 11/20/27

      9,678        10,948  

7.00%, 9/20/29

      26,370        30,306  

7.00%, 9/20/38

      9,583        11,448  

7.50%, 4/20/32

      18,441        20,659  

8.00%, 7/15/24

      2,885        3,002  
     

 

 

  
        186,070  
     

 

 

  
 

 

MARCH 31, 2021   3

SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2021

 

Sit Balanced Fund (Continued)

 

Name of Issuer   

    

Principal
Amount ($)

      Fair Value ($)  

Taxable Municipal Securities - 8.4%

      

Baylor Scott & White Hlds., 2.84%, 11/15/50

      250,000        234,458  

Bucks Co. Industrial Dev. Auth., 4.00%, 10/1/21

      30,000        30,076  

Buffalo St. Foundation Hsg. Corp., 2.80%, 11/1/30

      100,000        98,386  

Chino Public Fin. Auth., 1.99%, 9/1/27

      150,000        153,296  

Coventry Local Sch. Dist., 2.20%, 11/1/29

      200,000        197,822  

Essex Co. Impt. Auth., 3.97%, 8/1/30 4

     200,000        190,592  

GBG, LLC, 3.50%, 6/1/37 4

     150,000        148,156  

Great Lakes Water Auth. Sewage Disposal System, 3.51%, 7/1/44

      150,000        156,898  

Kentucky Higher Edu. Student Loan Corp. (Subordinated), 5.27%, 6/1/36

      100,000        101,017  

LaGrange Co. Regional Utility Dist., 2.98%, 1/1/40

      230,000        212,879  

Louisiana State Trans. Auth., 1.45%, 2/15/27

      300,000        293,898  

Madison Co. Comm. Sch. Dist. No. 7, 1.90%, 12/1/30

      250,000        238,685  

Massachusetts Edu. Auth.:

      

4.00%, 1/1/32

      70,000        70,906  

4.41%, 7/1/34

      40,000        41,623  

MI Hsg. Dev. Auth., 3.53%, 6/1/50

      65,000        65,000  

MN Hsg. Fin. Agy.:

      

2.31%, 1/1/27

      190,000        189,310  

4.73%, 1/1/49

      80,000        82,316  

ND Hsg. Fin. Agy., 3.70%, 7/1/33

      100,000        102,866  

NJ Higher Edu. Student Assit. Auth., 3.50%, 12/1/39 8

     100,000        103,179  

NJ Turnpike Auth., 1.71%, 1/1/29

      200,000        192,910  

NY City Hsg. Dev. Corp., 2.65%, 11/1/36

      100,000        99,393  

NY Mortgage Agency, 2.98%, 10/1/40

      150,000        141,674  

NY State Dormitory Auth., 2.69%, 7/1/35

      200,000        189,646  

Oregon State Fac. Auth.:

      

2.68%, 7/1/31

      350,000        337,610  

3.29%, 10/1/40

      100,000        92,427  

Public Fin. Auth., 4.23%, 7/1/32

      105,000        119,180  

So. Dakota Hsg. Dev. Auth., 3.89%, 5/1/32

      15,000        15,389  

South Carolina Ports Auth., 3.88%, 7/1/55

      150,000        153,489  

South Carolina Student Loan Corp., 2.92%, 12/1/28

      200,000        191,626  

Texas Children’s Hospital, 3.37%, 10/1/29 17 

      115,000        124,426  

Tulane University, 0.50%, 2/15/36 1

     85,000        80,365  

Utah Charter Sch. Fin. Auth., 2.40%, 10/15/27

      205,000        199,463  

WA State Hsg. Fin. Comm., 3.50%, 7/1/24 4 

      250,000        249,615  

Warren Consol. Schools, 1.85%, 5/1/31

      250,000        238,508  
     

 

 

  
        5,137,084  
     

 

 

  
Name of Issuer   

Principal
Amount ($)/

Quantity

      Fair Value ($)  

U.S. Treasury / Federal Agency Securities - 3.8%

 

   

U.S. Treasury Bond, 2.00%, 2/15/50

      200,000        182,344  

U.S. Treasury Inflation Indexed Bonds:

      

0.13%, 1/15/23

      1,813,216        1,901,575  

0.13%, 1/15/30

      101,671        109,870  

0.13%, 7/15/30

      102,025        110,586  
     

 

 

  
        2,304,375  
     

 

 

  

Total Bonds
(cost: $18,628,839)

         18,715,385  
     

 

 

  

Investment Companies - 3.3%

      

BlackRock Enhanced Government Fund

      4,886        62,345  

BlackRock Income Trust

      23,300        142,363  

DoubleLine Opportunistic Credit Fund

      10,411        205,513  

Eaton Vance Short Duration Div. Inc. Fund

      14,000        184,240  

Eaton Vance, Ltd. Duration Inc. Fund

      15,700        198,291  

Franklin, Ltd. Duration, Income Trust

      21,600        198,504  

MFS Intermediate Income Trust

      24,500        91,140  

Nuveen Multi-Market Income Fund, Inc.

      3,953        28,719  

Nuveen Preferred & Income Securities Fund

      10,400        101,088  

Putnam Master Intermediate Income Trust

      67,300        290,736  

Putnam Premier Income Trust

      84,275        410,419  

WA Inflation-Linked Opp. & Inc. Fund

      209        2,541  

WA Inflation-Linked Sec. & Inc. Fund

      10,953        140,089  
     

 

 

  

Total Investment Companies
(cost: $1,904,182)

         2,055,988  
     

 

 

  

Short-Term Securities - 3.3%

      

Fidelity Inst. Money Mkt. Gvt. Fund, 0.01%

      2,037,653        2,037,653  
     

 

 

  

(cost: $2,037,653)

      

Total Investments in Securities - 100.1%

      

(cost: $44,509,579)

         61,459,952  

Other Assets and Liabilities, net - (0.1%)

         (62,232 ) 
     

 

 

  

Total Net Assets - 100.0%

         $61,397,720  
     

 

 

  

 

 

 

*

Non-income producing security.

1 

Variable rate security. Rate disclosed is as of March 31, 2021. 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 March 31, 2021 was $3,311,273 and represented 5.4% of net assets. These securities have been determined to be liquid by the Adviser in accordance with guidelines established by the Board of Directors.

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 March 31, 2021, 0.2% of net assets in the Fund was invested in such securities.

14

Step Coupon: A bond that pays a coupon rate that increases on a specified date(s). Rate disclosed is as of March 31, 2021.

 

 

4

SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2021

 

Sit Balanced Fund (Continued)

 

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 March 31, 2021 is as follows:

 

     Investment in Securities  
    

Level 1

Quoted

Price ($)

     

Level 2

Other significant

observable inputs ($)

   

Level 3

Significant

unobservable inputs ($)

    Total ($)  

Common Stocks **

     38,650,926        —      —      38,650,926  

Asset-Backed Securities

      —        685,954      —      685,954  

Collateralized Mortgage Obligations

      —        2,572,296      —      2,572,296  

Corporate Bonds

      —        7,253,896      —      7,253,896  

Federal Home Loan Mortgage Corporation

      —        132,267      —      132,267  

Federal National Mortgage Association

      —        443,443      —      443,443  

Government National Mortgage Association

      —        186,070      —      186,070  

Taxable Municipal Securities

      —        5,137,084      —      5,137,084  

U.S. Treasury / Federal Agency Securities

      —        2,304,375      —      2,304,375  

Investment Companies

      2,055,988        —      —      2,055,988  

Short-Term Securities

      2,037,653        —      —      2,037,653  

Total:

      42,744,567        18,715,385      —      61,459,952  

 

**

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.

 

MARCH 31, 2021   5