0001752724-21-251080.txt : 20211123 0001752724-21-251080.hdr.sgml : 20211123 20211123102711 ACCESSION NUMBER: 0001752724-21-251080 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20210930 FILED AS OF DATE: 20211123 PERIOD START: 20220630 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SIT MUTUAL FUNDS INC CENTRAL INDEX KEY: 0000877880 IRS NUMBER: 000000000 STATE OF INCORPORATION: MN FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: NPORT-P SEC ACT: 1940 Act SEC FILE NUMBER: 811-06373 FILM NUMBER: 211435590 BUSINESS ADDRESS: STREET 1: 3300 IDS CTR, 80 SOUTH 8TH ST CITY: MINNEAPOLIS STATE: MN ZIP: 55402-4130 BUSINESS PHONE: 612-332-3223 MAIL ADDRESS: STREET 1: 3300 IDS CTR, 80 SOUTH 8TH ST CITY: MINNEAPOLIS STATE: MN ZIP: 55402-4130 FORMER COMPANY: FORMER CONFORMED NAME: SIT NEW BEGINNING MUTUAL FUNDS INC DATE OF NAME CHANGE: 19920929 0000877880 S000003463 Sit Developing Markets Growth Fund C000009597 Sit Developing Markets Growth Fund SDMGX NPORT-P 1 primary_doc.xml NPORT-P false 0000877880 XXXXXXXX S000003463 C000009597 SIT MUTUAL FUNDS INC 811-06373 0000877880 254900G3NOOZ0B3T2Q46 80 S. 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SCHEDULE OF INVESTMENTS (Unaudited)

September 30, 2021

 

Sit Developing Markets Growth Fund

Investments are grouped by geographic region.

 

 

  
Name of Issuer       Quantity           Fair Value ($)  

 

  

Common Stocks - 94.5%

    

Africa/Middle East - 7.7%

    

Israel - 2.9%

    

NICE Systems, Ltd., ADR *

     1,275       362,151  
   

 

 

  

South Africa - 4.8%

    

Bid Corp., Ltd. *

     13,200       282,789  

Bidvest Group, Ltd.

     5,525       71,912  

Naspers, Ltd.

     1,425       235,524  
   

 

 

  
      590,225  
   

 

 

  

Asia - 72.0%

    

Australia - 2.8%

    

Atlassian Corp., PLC *

     450       176,139  

Rio Tinto, PLC, ADR

     2,475       165,379  
   

 

 

  
      341,518  
   

 

 

  

China/Hong Kong - 35.1%

    

AIA Group, Ltd.

     21,400       246,194  

Alibaba Group Holding, Ltd., ADR *

     3,150       466,357  

Baidu, Inc., ADR *

     1,300       199,875  

Budweiser Brewing Co. APAC, Ltd.

     46,000       116,842  

China Construction Bank Corp.

     82,000       58,522  

China International Capital Corp., Ltd.

     58,400       152,667  

China Mengniu Dairy Co., Ltd.

     48,000       309,112  

China Petroleum & Chemical Corp., ADR

     1,400       68,838  

China Tower Corp., Ltd.

     704,000       92,000  

CSPC Pharmaceutical Group, Ltd.

     230,400       274,949  

ENN Energy Holdings, Ltd.

     19,800       326,571  

GDS Holdings, Ltd., ADR *

     1,000       56,610  

Hong Kong Exchanges & Clearing, Ltd.

     5,100       313,398  

JD.com, Inc., ADR *

     4,000       288,960  

Meituan Dianping *

     6,000       191,529  

Ping An Insurance Group Co. of China, Ltd.

     19,900       136,104  

Sands China, Ltd. *

     30,400       62,214  

Sinopharm Group Co., Ltd.

     44,900       117,663  

Tencent Holdings, Ltd.

     11,400       680,566  

Trip.com Group, Ltd. *

     4,450       136,837  

WH Group, Ltd.

     101,857       72,527  
   

 

 

  
      4,368,335  
   

 

 

  

India - 3.1%

    

HDFC Bank, Ltd., ADR

     5,350       391,031  
   

 

 

  

Indonesia - 2.2%

    

Astra International Tbk PT

     176,000       67,198  

XL Axiata Tbk PT

     948,800       200,021  
   

 

 

  
      267,219  
   

 

 

  

Singapore - 5.7%

    

DBS Group Holdings, Ltd.

     14,500       321,300  

Flex, Ltd. *

     4,000       70,720  

Sea, Ltd, ADR *

     600       191,238  

Singapore Technologies Engineering, Ltd.

     44,000       122,824  
   

 

 

  
      706,082  
   

 

 

  

South Korea - 12.2%

    

LG Chem, Ltd.

     575       372,928  

NAVER Corp.

     450       146,010  

Samsung Electronics Co., Ltd.

     12,250       759,434  

    

    

 

  
Name of Issuer       Quantity           Fair Value ($)  

 

  

Shinhan Financial Group Co., Ltd.

     7,200       243,213  
   

 

 

  
      1,521,585  
   

 

 

  

Taiwan - 9.9%

    

Cathay Financial Holding Co., Ltd.

     82,085       169,242  

Hon Hai Precision Industry Co., Ltd., GDR

     23,700       178,503  

Taiwan Semiconductor Co.

     37,482       775,206  

Taiwan Semiconductor Co., ADR

     1,000       111,650  
   

 

 

  
      1,234,601  
   

 

 

  

Thailand - 1.0%

    

Bangkok Bank PCL

     36,500       125,611  
   

 

 

  

Europe - 1.1%

    

Netherlands - 1.1%

    

Prosus NV

     1,700       136,070  
   

 

 

  

Latin America - 8.9%

    

Argentina - 2.6%

    

Globant SA *

     1,175       330,187  
   

 

 

  

Brazil - 3.8%

    

Ambev SA, ADR

     21,575       59,547  

Banco Bradesco SA

     27,591       105,383  

Lojas Renner SA

     17,300       108,805  

Pagseguro Digital, Ltd. *

     3,800       196,536  
   

 

 

  
      470,271  
   

 

 

  

Chile - 0.7%

    

Banco Santander Chile, ADR

     4,700       92,919  
   

 

 

  

Peru - 1.8%

    

Southern Copper Corp.

     3,900       218,946  
   

 

 

  

North America - 4.8%

    

Mexico - 1.1%

    

Fomento Economico Mexicano, ADR

     1,575       136,584  
   

 

 

  

United States - 3.7%

    

Broadcom, Inc.

     550       266,712  

Skyworks Solutions, Inc.

     1,150       189,497  
   

 

 

  
      456,209  
   

 

 

  

Total Common Stocks
(cost: $7,667,081)

       11,749,544  
   

 

 

  

Investment Companies 4.3%

    

iShares MSCI India ETF
(cost $333,062)

     11,100       540,459  
   

 

 

  

Short-Term Securities - 1.2%

    

Fidelity Inst. Money Mkt. Gvt. Fund, 0.01%
(cost $143,740)

     143,740       143,740  
   

 

 

  

Total Investments in Securities - 100.0%
(cost $8,143,883)

 

     12,433,743  

Other Assets and Liabilities, net - 0.0%

 

     159  
   

 

 

  

Total Net Assets - 100.0%

 

     $12,433,902  
   

 

 

  
 

 

   
SEPTEMBER 30, 2021    1

    

SCHEDULE OF INVESTMENTS (Unaudited)

September 30, 2021

Sit Developing Markets Growth Fund (Continued)

 

                                                      
*

Non-income producing security.

ADR — American Depositary Receipt

GDR — Global Depositary Receipt

PLC — Public Limited Company

Numeric footnotes not disclosed are not applicable to this Schedule of Investments.

 

Portfolio Structure - By Sector    (% of Total Net Assets)

Electronic Technology

      21.8%

Finance

      18.9    

Technology Services

      18.5    

Retail Trade

      10.3    

Consumer Non-Durables

        5.6    

Health Technology

        3.2    

Non-Energy Minerals

        3.1    

Process Industries

        3.0    

Consumer Services

        3.0    

Utilities

        2.6    

Communications

        2.4    

Producer Manufacturing

        1.5    

Energy Minerals

        0.6    

Investment Companies

        4.3    

Short-Term Securities

        1.2    
  

 

   100.0    

Other Assets and Liabilities, net

        0.0    
  

 

   100.0%
  

 

 

 

   
2   

    

SCHEDULE OF INVESTMENTS (Unaudited)

September 30, 2021

Sit Developing Markets Growth Fund (Continued)

 

A summary of the levels for the Fund’s investments as of September 30, 2021 is as follows:

 

     Investment in Securities  
    

Level 1

Quoted

        Prices ($)        

     

Level 2

Other significant

      observable inputs ($)      

     

Level 3

Significant

    unobservable inputs ($)    

              Total ($)          
  

 

 

  

Common Stocks

            

Argentina

      330,187        —                  —        330,187    

Australia

      341,518        —                  —        341,518    

Brazil

      470,271        —                  —        470,271    

Chile

      92,919        —                  —        92,919    

China/Hong Kong

      1,217,477        3,150,858                  —        4,368,335    

India

      391,031        —                  —        391,031    

Indonesia

      —        267,219                  —        267,219    

Israel

      362,151        —                  —        362,151    

Mexico

      136,584        —                  —        136,584    

Netherlands

      —        136,070                  —        136,070    

Peru

      218,946        —                  —        218,946    

Singapore

      261,958        444,124                  —        706,082    

South Africa

      354,701        235,524                  —        590,225    

South Korea

      —        1,521,585                  —        1,521,585    

Taiwan

      111,650        1,122,951                  —        1,234,601    

Thailand

      —        125,611                  —        125,611    

United States

      456,209        —                  —        456,209    

Investment Companies

      540,459        —                  —        540,459    

Short-Term Securities

      143,740        —                  —        143,740    
  

 

 

  

Total:

      5,429,801        7,003,942                  —        12,433,743    
  

 

 

  

Level 1 securities of foreign issuers are primarily American Depositary Receipts (ADRs), Public Limited Companies (PLCs) or Global Depositary Receipts (GDRs). 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.

 

   
SEPTEMBER 30, 2021    3