NPORT-EX 2 SI80SIT093021.htm HTML
    

SCHEDULE OF INVESTMENTS (Unaudited)

September 30, 2021

 

Sit Balanced Fund

Investments are grouped by economic sectors.

 

 

  
Name of Issuer       Quantity           Fair Value ($)  

 

  

Common Stocks - 62.8%

    

Communications - 1.5%

    

American Tower Corp.

     2,300       610,443  

Verizon Communications, Inc.

     7,100       383,471  
   

 

 

  
      993,914  
   

 

 

  

Consumer Durables - 1.3%

    

Activision Blizzard, Inc.

     3,425       265,061  

YETI Holdings, Inc. *

     7,300       625,537  
   

 

 

  
      890,598  
   

 

 

  

Consumer Non-Durables - 3.8%

    

Conagra Brands, Inc.

     8,900       301,443  

Constellation Brands, Inc.

     2,275       479,320  

Estee Lauder Cos., Inc. - Class A

     2,275       682,341  

Mondelez International, Inc.

     7,875       458,167  

NIKE, Inc.

     2,225       323,137  

PepsiCo, Inc.

     2,475       372,265  
   

 

 

  
      2,616,673  
   

 

 

  

Consumer Services - 3.6%

    

Chegg, Inc. *

     3,325       226,167  

McDonald’s Corp.

     2,300       554,553  

Starbucks Corp.

     4,850       535,004  

Visa, Inc.

     5,150       1,147,162  
   

 

 

  
      2,462,886  
   

 

 

  

Electronic Technology - 8.9%

    

Apple, Inc.

     18,125       2,564,687  

Applied Materials, Inc.

     7,825       1,007,312  

Broadcom, Inc.

     1,865       904,394  

Keysight Technologies, Inc. *

     2,950       484,656  

NVIDIA Corp.

     5,140       1,064,802  

Qualcomm, Inc.

     1,625       209,593  
   

 

 

  
      6,235,444  
   

 

 

  

Finance - 4.3%

    

Ameriprise Financial, Inc.

     2,250       594,270  

Chubb, Ltd.

     2,550       442,374  

First Republic Bank

     1,750       337,540  

Goldman Sachs Group, Inc.

     2,100       793,863  

JPMorgan Chase & Co.

     3,425       560,638  

T Rowe Price Group, Inc.

     1,550       304,885  
   

 

 

  
      3,033,570  
   

 

 

  

Health Services - 2.5%

    

HCA Healthcare, Inc.

     2,625       637,140  

UnitedHealth Group, Inc.

     2,825       1,103,840  
   

 

 

  
      1,740,980  
   

 

 

  

Health Technology - 6.3%

    

Abbott Laboratories

     3,550       419,362  

AbbVie, Inc.

     3,825       412,603  

Bristol-Myers Squibb Co.

     7,300       431,941  

Dexcom, Inc. *

     1,465       801,150  

Intuitive Surgical, Inc. *

     345       342,982  

Johnson & Johnson

     3,000       484,500  

Medtronic, PLC

     4,375       548,406  

Thermo Fisher Scientific, Inc.

     1,575       899,845  
   

 

 

  
      4,340,789  
   

 

 

  

Process Industries - 1.5%

    

Ecolab, Inc.

     1,775       370,300  

Linde, PLC

     625       183,363  

    

    

 

 

  
Name of Issuer       Quantity           Fair Value ($)  

 

  

Sherwin-Williams Co.

     1,800       503,514  
   

 

 

  
      1,057,177  
   

 

 

  

Producer Manufacturing - 3.4%

    

Honeywell International, Inc.

     2,275       482,937  

Motorola Solutions, Inc.

     1,400       325,248  

Northrop Grumman Corp.

     500       180,075  

Parker-Hannifin Corp.

     975       272,629  

Safran SA, ADR

     11,550       366,019  

Siemens AG, ADR

     5,775       474,358  

Trane Technologies, PLC

     1,200       207,180  
   

 

 

  
      2,308,446  
   

 

 

  

Retail Trade - 6.0%

    

Amazon.com, Inc. *

     610       2,003,874  

CVS Health Corp.

     5,800       492,188  

Home Depot, Inc.

     2,050       672,933  

Netflix, Inc. *

     500       305,170  

TJX Cos., Inc.

     6,550       432,169  

Ulta Beauty, Inc. *

     795       286,931  
   

 

 

  
      4,193,265  
   

 

 

  

Technology Services - 18.0%

    

Accenture, PLC

     2,025       647,838  

Adobe, Inc. *

     1,300       748,436  

Alphabet, Inc. - Class A *

     620       1,657,582  

Alphabet, Inc. - Class C *

     205       546,389  

Atlassian Corp., PLC *

     2,150       841,553  

Autodesk, Inc. *

     1,900       541,823  

DocuSign, Inc. *

     525       135,151  

Dynatrace, Inc. *

     5,975       424,046  

Facebook, Inc. *

     3,065       1,040,230  

Intuit, Inc.

     1,200       647,412  

Microsoft Corp.

     7,800       2,198,976  

Paycom Software, Inc. *

     600       297,450  

PayPal Holdings, Inc. *

     3,300       858,693  

Pinterest, Inc. *

     3,225       164,314  

RingCentral, Inc. *

     350       76,125  

salesforce.com, Inc. *

     3,650       989,953  

ServiceNow, Inc. *

     560       348,471  

Splunk, Inc. *

     1,950       282,185  

Twilio, Inc. *

     400       127,620  
   

 

 

  
      12,574,247  
   

 

 

  

Transportation - 1.2%

    

FedEx Corp.

     1,750       383,758  

Union Pacific Corp.

     2,050       401,820  
   

 

 

  
      785,578  
   

 

 

  

Utilities - 0.5%

    

NextEra Energy, Inc.

     4,140       325,073  
   

 

 

  

Total Common Stocks
(cost: $23,059,800)

       43,558,640  
   

 

 

  
   

 

  
Name of Issuer  

Principal

    Amount ($)    

     Fair Value ($)  

 

  

Bonds –32.5%

    

Asset-Backed Securities - 0.7%

    

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

     35,987       36,703  
 

 

   
SEPTEMBER 30, 2021    1

    

SCHEDULE OF INVESTMENTS (Unaudited)

September 30, 2021

Sit Balanced Fund (Continued)

 

 

  
Name of Issuer  

Principal

    Amount ($)    

       Fair Value ($)  

 

  

New Century Home Equity Loan Trust
2005-A A4W, 4.72%, 8/25/35 14

     1,004       1,006  

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

     38,930       39,199  

Small Business Administration:

    

2008-20A 1, 5.17%, 1/1/28

     22,632       24,761  

2007-20H 1, 5.78%, 8/1/27

     20,899       22,906  

Towd Point Mortgage Trust:

    

2020-MH1 A1A, 2.18%, 2/25/60 1, 4

     132,753       133,575  

2019-MH1 A2, 3.00%, 11/25/58 1, 4

     100,000       102,550  

2019-SJ3 A2, 3.00%, 11/25/59 1, 4

     125,000       125,193  

2019-SJ1 A2, 4.17%, 11/25/58 1, 4

     10,868       10,853  
   

 

 

  
      496,746  
   

 

 

  

Collateralized Mortgage Obligations - 3.9%

 

  

Fannie Mae:

    

2017-84 JP, 2.75%, 10/25/47

     27,854       29,325  

2003-34 A1, 6.00%, 4/25/43

     29,748       33,639  

2004-T1 1A1, 6.00%, 1/25/44

     18,530       21,260  

1999-17 C, 6.35%, 4/25/29

     8,092       9,071  

2001-82 ZA, 6.50%, 1/25/32

     12,069       13,622  

2009-30 AG, 6.50%, 5/25/39

     34,961       40,992  

2013-28 WD, 6.50%, 5/25/42

     35,147       42,005  

2004-T1 1A2, 6.50%, 1/25/44

     56,389       65,533  

2004-W9 2A1, 6.50%, 2/25/44

     33,127       38,431  

2010-108 AP, 7.00%, 9/25/40

     790       919  

2004-T3 1A3, 7.00%, 2/25/44

     5,960       7,042  

1993-21 KA, 7.70%, 3/25/23

     7,974       8,249  

Freddie Mac:

    

4293 BA, 5.27%, 10/15/47 1

     11,711       13,431  

2122 ZE, 6.00%, 2/15/29

     44,974       51,037  

2126 C, 6.00%, 2/15/29

     26,204       29,421  

2480 Z, 6.00%, 8/15/32

     28,021       31,891  

2485 WG, 6.00%, 8/15/32

     28,667       32,898  

2575 QE, 6.00%, 2/15/33

     13,814       15,768  

2980 QA, 6.00%, 5/15/35

     14,174       16,082  

2283 K, 6.50%, 12/15/23

     2,187       2,293  

2357 ZJ, 6.50%, 9/15/31

     17,792       20,151  

4520 HM, 6.50%, 8/15/45

     18,250       21,616  

3704 CT, 7.00%, 12/15/36

     12,262       14,730  

2238 PZ, 7.50%, 6/15/30

     10,930       12,895  

Government National Mortgage Association:

 

  

2021-27 CW, 5.00%, 2/20/51 1

     166,989       197,253  

2021-86 WB, 5.13%, 5/20/51 1

     193,896       223,624  

2021-104 HT, 5.50%, 6/20/51

     199,008       234,804  

2021-27 AW, 5.90%, 2/20/51 1

     238,657       285,830  

2015-80 BA, 6.99%, 6/20/45 1

     16,532       18,980  

2018-147 AM, 7.00%, 10/20/48

     46,784       51,605  

2018-160 DA, 7.00%, 11/20/48

     43,930       49,581  

2014-69 W, 7.21%, 11/20/34 1

     19,994       23,193  

2013-133 KQ, 7.31%, 8/20/38 1

     21,257       24,974  

2005-74 HA, 7.50%, 9/16/35

     4,386       4,648  

JP Morgan Mortgage Trust:

    

2021-3 A4, 2.50%, 7/1/51 1, 4

     171,116       173,863  

2021-6 A4, 2.50%, 10/25/51 1, 4

     372,927       379,614  

2019-HYB1 A5A, 3.00%, 10/25/49 1, 4

     57,921       58,699  

2020-8 A3, 3.00%, 3/25/51 1, 4

     27,934       28,534  

New Residential Mortgage Loan Trust:

    

2018-3A A1, 4.50%, 5/25/58 1, 4

     53,140       57,387  

 

  
Name of Issuer  

Principal

    Amount ($)    

       Fair Value ($)  

 

  

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

     39,491       40,067  

Sequoia Mortgage Trust:

    

2020-4 A5, 2.50%, 11/25/50 1, 4

     66,343       68,113  

2019-5 A4, 3.50%, 12/25/49 1, 4

     12,400       12,420  

2020-2 A4, 3.50%, 3/25/50 1, 4

     23,441       23,559  

Vendee Mortgage Trust:

    

1994-2 2, 5.41%, 5/15/24 1

     2,703       2,709  

2008-1 B, 6.08%, 3/15/25 1

     8,919       10,168  
Wells Fargo Mortgaged Backed Securities Trust:    

2020-5 A3, 2.50%, 9/25/50 1, 4

     54,029       54,610  

2020-2 A17, 3.00%, 12/25/49 1, 4

     44,913       45,553  

2020-2 A3, 3.00%, 12/25/49 1, 4

     26,551       26,757  
   

 

 

  
      2,668,846  
   

 

 

  

Corporate Bonds - 11.5%

 

  

Alaska Airlines, 4.80%, 8/15/27 4

     184,322       205,176  

American Airlines, 3.20%, 6/15/28

     78,700       79,167  

American Equity Investment Life Holding Co., 5.00%, 6/15/27

     75,000       86,335  

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

     100,000       109,134  

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

     200,000       218,159  

Bank of America Corp., 3 Mo. Libor + 1.04, 3.42%, 12/20/28 1

     200,000       216,647  

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

     150,000       178,122  

British Airways 2020-1 Class B Pass Through Trust, 8.38%, 11/15/28 4

     55,766       65,460  

Cabot Corp., 3.40%, 9/15/26

     183,000       194,998  

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

     100,000       138,384  

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

     100,000       113,552  

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

     100,000       117,181  

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

     200,000       196,044  

ConocoPhillips Co., 6.95%, 4/15/29

     125,000       166,940  

CVS Pass-Through Trust, 7.51%, 1/10/32 4

     130,161       163,780  

Delta Air Lines 2015-1 Class A Pass Through Trust, 3.88%, 7/30/27

     147,826       154,230  

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

     200,000       222,982  

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

     23,367       23,453  

Doric Nimrod Air Finance Alpha 2012-1 Trust, 5.13%, 11/30/22 4

     15,982       15,937  

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

     105,000       110,676  

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

     150,000       163,478  

Equifax, Inc., 6.90%, 7/1/28

     150,000       189,760  

Equinor ASA, 7.15%, 11/15/25

     150,000       184,073  

Fairfax Financial Holdings, Ltd., 7.75%, 7/15/37

     150,000       206,929  

FedEx Corp. 2020-1 Class AA Pass Through Trust, 1.88%, 2/20/34

     283,958       280,298  

Flex, Ltd., 4.88%, 5/12/30

     200,000       231,766  

Halliburton Co., 2.92%, 3/1/30

     150,000       154,976  

ITT, LLC, 7.40%, 11/15/25

     25,000       29,923  

JetBlue Airways, 4.00%, 11/15/32

     241,820       262,780  

Johnson & Johnson, 3.55%, 3/1/36

     150,000       173,253  
 

 

   
2   

    

SCHEDULE OF INVESTMENTS (Unaudited)

September 30, 2021

Sit Balanced Fund (Continued)

 

 

  
Name of Issuer  

Principal

    Amount ($)    

       Fair Value ($)  

 

  

JPMorgan Chase & Co., 8.75%, 9/1/30

     100,000       148,821  

JPMorgan Chase & Co., 3 Mo. Libor + 0.95%, 3.51%, 1/23/29 1

     50,000       54,420  

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

     100,000       152,516  

Mercury General Corp., 4.40%, 3/15/27

     100,000       112,068  

Motorola Solutions, Inc., 2.75%, 5/24/31

     225,000       229,354  

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

     200,000       215,187  

PacifiCorp, 7.70%, 11/15/31

     150,000       218,017  

Polar Tankers, Inc., 5.95%, 5/10/37 4

     100,000       124,816  

Principal Financial Group, Inc., 3 Mo.
Libor + 3.04%, 3.17%, 5/15/55 1

     100,000       100,232  

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

     100,000       128,313  

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

     150,000       153,087  

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

     185,000       187,467  

Spirit Airlines, 4.10%, 4/1/28

     119,691       125,174  

Suncor Energy, Inc., 5.35%, 7/15/33

     63,000       77,085  

Tennessee Gas Pipeline Co., LLC, 7.00%, 10/15/28

     213,000       274,792  

Tyco Intl. Finance, 3.90%, 2/14/26

     200,000       215,064  

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

     163,240       175,198  

United Airlines 2018-1 Class AA Pass Through Trust, 3.50%, 3/1/30

     300,538       316,733  

United Airlines 2019-2 Class AA Pass Through Trust, 2.70%, 5/1/32

     144,166       145,620  

Unum Group, 7.25%, 3/15/28

     25,000       31,721  

WestRock MWV, LLC, 7.95%, 2/15/31

     100,000       141,947  
   

 

 

  
      7,981,225  
   

 

 

  

Federal Home Loan Mortgage Corporation - 0.2%

 

  

6.50%, 2/1/22

     13       13  

7.50%, 7/1/29

     83,450       96,104  

8.00%, 2/1/34

     9,947       11,602  

8.50%, 9/1/24

     2,107       2,126  
   

 

 

  
      109,845  
   

 

 

  

Federal National Mortgage Association - 0.5%

 

  

5.50%, 10/1/33

     38,552       43,150  

6.50%, 2/1/24

     7,486       7,733  

6.50%, 9/1/27

     26,877       30,196  

6.50%, 6/1/40

     81,747       93,323  

7.00%, 1/1/32

     9,708       10,554  

7.00%, 3/1/33

     15,431       17,220  

7.00%, 12/1/38

     24,389       26,936  

8.00%, 6/1/24

     5,064       5,362  

8.00%, 1/1/31

     7,500       7,566  

8.00%, 2/1/31

     16,450       19,952  

8.00%, 9/1/37

     39,997       45,696  

8.43%, 7/15/26

     2,021       2,051  

8.50%, 10/1/30

     17,364       19,951  

10.00%, 6/1/31

     21,543       23,803  
   

 

 

  
      353,493  
   

 

 

  

Government National Mortgage Association - 0.2%

 

  

5.00%, 5/20/48

     46,805       51,120  

5.75%, 12/15/22

     5,377       5,445  

6.50%, 11/20/38

     14,518       16,497  

7.00%, 12/15/24

     5,856       6,184  

7.00%, 11/20/27

     8,513       9,548  

7.00%, 9/20/29

     22,780       25,918  

 

  
Name of Issuer  

Principal

    Amount ($)    

       Fair Value ($)  

 

  

7.00%, 9/20/38

     8,417       10,000  

7.50%, 4/20/32

     16,849       18,771  

8.00%, 7/15/24

     1,578       1,613  
   

 

 

  
      145,096  
   

 

 

  

Taxable Municipal Securities - 9.3%

 

  

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

     30,000       30,000  

Chicago Park Dist., 2.53%, 1/1/34

     235,000       229,038  

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

     150,000       153,642  

City of Encinitas CA, 1.45%, 9/1/27

     250,000       246,208  

CO Health Facs. Auth., 4.48%, 12/1/40

     150,000       158,347  

Colorado Edu. & Cultural Fac. Auth., 3.97%, 3/1/56

     205,000       222,726  

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

     200,000       201,120  

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

     200,000       199,986  

GBG, LLC, 3.50%, 6/1/37 4, 9

     150,000       153,336  

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

     150,000       159,487  

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

     100,000       102,012  

KS Dev. Finance Auth. Rev., 2.77%, 5/1/51

     250,000       245,135  

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

     230,000       221,359  

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

     300,000       295,911  

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

     150,000       145,797  

Massachusetts Edu. Auth.

    

4.00%, 1/1/32

     50,000       51,479  

4.41%, 7/1/34

     30,000       32,606  

MI State Hsg. Dev. Auth., 2.66%, 12/1/41

     300,000       292,923  

MN Hsg. Fin. Agy.

    

2.31%, 1/1/27

     165,000       165,103  

4.73%, 1/1/49

     30,000       30,900  

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

     100,000       106,360  

NJ Turnpike Auth., 1.71%, 1/1/29

     200,000       197,978  

No. Dakota Hsg. Fin. Auth., 3.70%, 7/1/33

     100,000       104,523  

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

     100,000       99,751  

NY Mortgage Agency, 2.98%, 10/1/40

     150,000       147,679  

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

     200,000       196,930  

Oregon State Fac. Auth.

    

2.68%, 7/1/31

     350,000       354,088  

3.29%, 10/1/40

     100,000       100,084  

Public Fin. Auth., 4.23%, 7/1/32

     105,000       121,605  

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

     200,000       200,886  

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

     115,000       126,189  

Texas Trans. Comm. State Highway, 5.18%, 4/1/30

     150,000       182,949  

Tulane University, 0.43%, 2/15/36 1

     85,000       79,445  

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

     205,000       201,357  

VA Hsg. Dev. Auth., 2.13%, 7/25/51

     250,000       247,538  

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

     250,000       249,488  

Warren Consol. Schools, 1.85%, 5/1/31

     250,000       245,355  

Wichita Falls, 1.65%, 9/1/28

     145,000       142,899  
   

 

 

  
      6,442,219  
   

 

 

  

U.S. Treasury / Federal Agency Securities - 6.2%

 

  

U.S. Treasury Strip 2.18%, 8/15/47 6

     375,000       215,185  
 

 

   
SEPTEMBER 30, 2021    3

    

SCHEDULE OF INVESTMENTS (Unaudited)

September 30, 2021

Sit Balanced Fund (Continued)

 

 

  
Name of Issuer  

Principal

    Amount ($)    

       Fair Value ($)  

 

  

U.S. Treasury Bonds

    

1.25%, 8/15/31

     550,000       535,992  

1.63%, 5/15/31

     225,000       227,356  

2.00%, 2/15/50

     450,000       440,842  

2.00%, 8/15/51

     100,000       97,984  

2.38%, 5/15/51

     300,000       319,219  

United States Treasury Inflation Bonds

    

0.13%, 1/15/23

     2,040,227       2,109,217  

0.13%, 1/15/30

     106,110       116,453  

0.13%, 7/15/30

     106,479       117,324  

0.25%, 2/15/50

     132,735       148,684  
   

 

 

  
      4,328,256  
   

 

 

  

Total Bonds
(cost $22,287,764)

       22,525,726  
   

 

 

  
   

 

  
Name of Issuer   Quantity       Fair Value ($)  

 

  

Investment Companies 2.6%

    

BlackRock Enhanced Government Fund

     4,886       61,612  

BlackRock Income Trust

     19,400       118,340  

DoubleLine Opportunistic Credit Fund

     10,411       205,305  

Eaton Vance Short Duration Div. Inc. Fund

     6,641       88,524  

Eaton Vance, Ltd. Duration Inc. Fund

     15,700       206,926  

Franklin, Ltd. Duration, Income Trust

     1,300       11,817  

MFS Intermediate Income Trust

     24,500       88,690  

Nuveen Multi-Market Income Fund, Inc.

     3,953       29,675  

Nuveen Preferred & Income Securities Fund

     10,400       101,920  

Putnam Master Intermediate Income Trust

     67,300       273,911  

Putnam Premier Income Trust

     95,775       437,692  

WA Inflation-Linked Opp. & Inc. Fund

     4,709       62,583  

WA Inflation-Linked Sec. & Inc. Fund

     10,953       150,932  
   

 

 

  

Total Investment Companies
(cost: $1,758,608)

       1,837,927  
   

 

 

  

Short-Term Securities - 1.9%

    

Fidelity Inst. Money Mkt. Gvt. Fund, 0.01%
(cost $1,283,075)

     1,283,075       1,283,075  
   

 

 

  

Total Investments in Securities - 99.8%
(cost $48,389,247)

 

     69,205,368  

Other Assets and Liabilities, net - 0.2%

 

     145,023  
   

 

 

  

Total Net Assets - 100.0%

 

     $69,350,391  
   

 

 

  
 

 

   
4   

    

SCHEDULE OF INVESTMENTS (Unaudited)

September 30, 2021

Sit Balanced Fund (Continued)

 

* 

Non-income producing security.

1 

Variable rate security. Rate disclosed is as of September 30, 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 September 30, 2021 was $2,969,976 and represented 4.3% 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, 2021, 0.2% of net assets in the Fund was invested in such securities.

9 

Municipal Lease Security. The total value of such securities as of September 30, 2021 was $153,336 and represented 0.2% of net assets. These securities have been determined to be liquid by the Adviser in accordance with guidelines established by the Board of Directors.

14 

Step Coupon: A bond that pays a coupon rate that increases on a specified date(s). Rate disclosed is as of September 30, 2021.

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, 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**

      43,558,640        —                  —                  43,558,640  

Asset-Backed Securities

      —        496,746                  —                  496,746  

Collateralized Mortgage Obligations

      —        2,668,846                  —                  2,668,846  

Corporate Bonds

      —        7,981,225                  —                  7,981,225  

Federal Home Loan Mortgage Corporation

      —        109,845                  —                  109,845  

Federal National Mortgage Association

      —        353,493                  —                  353,493  

Government National Mortgage Association

      —        145,096                  —                  145,096  

Taxable Municipal Securities

      —        6,442,219                  —                  6,442,219  

U.S. Treasury / Federal Agency Securities

      —        4,328,256                  —                  4,328,256  

Investment Companies

      1,837,927        —                  —                  1,837,927  

Short-Term Securities

      1,283,075        —                  —                  1,283,075  
  

 

 

  

Total:

      46,679,642        22,525,726                  —                  69,205,368  
  

 

 

  

 

**

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.

 

   
SEPTEMBER 30, 2021    5