0001752724-22-120801.txt : 20220525 0001752724-22-120801.hdr.sgml : 20220525 20220525142512 ACCESSION NUMBER: 0001752724-22-120801 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20220331 FILED AS OF DATE: 20220525 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: 22961928 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 S000003461 Sit International Growth Fund C000009595 Sit International Growth Fund SNGRX NPORT-P 1 primary_doc.xml NPORT-P false 0000877880 XXXXXXXX S000003461 C000009595 SIT MUTUAL FUNDS INC 811-06373 0000877880 254900G3NOOZ0B3T2Q46 80 S. 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0.515989817417 Long EC CORP US N 1 N N N Linde PLC 8945002PAZHZLBGKGF02 Linde PLC 000000000 500.00000000 NS USD 159715.00000000 0.571990961068 Long EC CORP GB N 1 N N N Entain PLC 213800GNI3K45LQR8L28 Entain PLC 000000000 13925.00000000 NS 298287.86000000 1.068265095428 Long EC CORP GB N 2 N N N BAE Systems PLC 8SVCSVKSGDWMW2QHOH83 BAE Systems PLC 000000000 52600.00000000 NS 493990.58000000 1.769139696413 Long EC CORP GB N 2 N N N Garmin Ltd 2549001E0HIPIJQ0W046 Garmin Ltd 000000000 1050.00000000 NS USD 124540.50000000 0.446019724427 Long EC CORP CH N 1 N N N Sony Group Corp 529900R5WX9N2OI2N910 Sony Group Corp 835699307 6300.00000000 NS USD 647073.00000000 2.317377247917 Long EC CORP JP N 1 N N N Logitech International SA 549300SN6PRK6IJJC215 Logitech International SA 000000000 6650.00000000 NS USD 490637.00000000 1.757129444106 Long EC CORP CH N 1 N N N LG Chem Ltd 988400IES4EIG7O06940 LG Chem Ltd 000000000 975.00000000 NS 426042.43000000 1.525795441827 Long EC CORP KR N 2 N N N 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213800YOEO5OQ72G2R82 Rio Tinto PLC 767204100 4400.00000000 NS USD 353760.00000000 1.266928731724 Long EC CORP GB N 1 N N N China Tower Corp Ltd 300300T6BNNP0L7O7H91 China Tower Corp Ltd 000000000 1342000.00000000 NS 150226.63000000 0.538010045842 Long EC CORP CN N 2 N N N FIDELITY INVESTMENTS MONEY MARKET FUNDS - GOVERNMENT PORTFOLIO N/A FIDELITY GOVERNMENT PORT-I 316175108 174841.03000000 NS USD 174841.03000000 0.626162156239 Long STIV RF US N 1 N N N Ashtead Group PLC 2138007UTBN8X9K1A235 Ashtead Group PLC 000000000 5500.00000000 NS 346304.28000000 1.240227392162 Long EC CORP GB N 2 N N N Ericsson 549300W9JLPW15XIFM52 Telefonaktiebolaget LM Ericsson 294821608 32350.00000000 NS USD 295679.00000000 1.058921925790 Long EC CORP SE N 1 N N N Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen 529900MUF4C20K50JS49 Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen 000000000 435.00000000 NS 116292.77000000 0.416481941442 Long EC CORP DE N 2 N N N Samsung Electronics Co Ltd 9884007ER46L6N7EI764 Samsung Electronics Co Ltd 796050888 185.00000000 NS USD 260763.66000000 0.933878824750 Long EC CORP KR N 2 N N N Infineon Technologies AG TSI2PJM6EPETEQ4X1U25 Infineon Technologies AG 000000000 5700.00000000 NS 192831.21000000 0.690590796930 Long EC CORP DE N 2 N N N London Stock Exchange Group PL 213800QAUUUP6I445N30 London Stock Exchange Group PLC 000000000 5100.00000000 NS 531831.10000000 1.904658811100 Long EC CORP GB N 2 N N N CSPC Pharmaceutical Group Ltd 529900M3XQCW234H8O91 CSPC Pharmaceutical Group Ltd 000000000 262960.00000000 NS 301311.75000000 1.079094621441 Long EC CORP CN N 2 N N N Safran SA 969500UIC89GT3UL7L24 Safran SA 000000000 3200.00000000 NS 376753.66000000 1.349276449108 Long EC CORP FR N 2 N N N HomeServe PLC 213800EKBJTGNMXEDF11 HomeServe PLC 000000000 15225.00000000 NS 168602.71000000 0.603820718978 Long EC CORP GB N 1 N N N CRH PLC 549300MIDJNNTH068E74 CRH PLC 12626K203 4800.00000000 NS USD 192288.00000000 0.688645386606 Long EC CORP IE N 1 N N N AstraZeneca PLC PY6ZZQWO2IZFZC3IOL08 AstraZeneca PLC 046353108 8300.00000000 NS USD 550622.00000000 1.971955088533 Long EC CORP GB N 1 N N N Deutsche Post AG 8ER8GIG7CSMVD8VUFE78 Deutsche Post AG 000000000 6550.00000000 NS 312774.84000000 1.120147646304 Long EC CORP DE N 2 N N N Iberdrola SA 5QK37QC7NWOJ8D7WVQ45 Iberdrola SA 000000000 45900.00000000 NS 501686.14000000 1.796699980422 Long EC CORP ES N 2 N N N Alibaba Group Holding Ltd 5493001NTNQJDH60PM02 Alibaba Group Holding Ltd 01609W102 2350.00000000 NS USD 255680.00000000 0.915672597601 Long EC CORP CN N 1 N N N Westpac Banking Corp EN5TNI6CI43VEPAMHL14 Westpac Banking Corp 961214301 4425.00000000 NS USD 80264.30000000 0.287452362623 Long EC CORP AU N 2 N N N ASML Holding NV 724500Y6DUVHQD6OXN27 ASML Holding NV 000000000 1025.00000000 NS USD 684628.25000000 2.451874718666 Long EC CORP NL N 1 N N N Stellantis NV 549300LKT9PW7ZIBDF31 Stellantis NV 000000000 16375.00000000 NS USD 266421.25000000 0.954140480458 Long EC CORP NL N 2 N N N Hexagon AB 549300WJFW6ILNI4TA80 Hexagon AB 000000000 26600.00000000 NS 372687.30000000 1.334713501579 Long EC CORP SE N 2 N N N Macquarie Group Ltd ACMHD8HWFMFUIQQ8Y590 Macquarie Group Ltd 000000000 2600.00000000 NS 393208.75000000 1.408207437077 Long EC CORP AU N 2 N N N Faurecia SE 969500F0VMZLK2IULV85 Faurecia SE 000000000 7975.00000000 NS 207419.97000000 0.742837854835 Long EC CORP FR N 2 N N N Compass Group PLC 2138008M6MH9OZ6U2T68 Compass Group PLC 000000000 5925.00000000 NS 127506.57000000 0.456642178360 Long EC CORP GB N 2 N N N Budweiser Brewing Co APAC Ltd 549300YF1MR4GTF18132 Budweiser Brewing Co APAC Ltd 000000000 21500.00000000 NS 56773.84000000 0.203325444104 Long EC CORP HK N 2 N N N AXA SA F5WCUMTUM4RKZ1MAIE39 AXA SA 000000000 11750.00000000 NS 343973.39000000 1.231879722805 Long EC CORP FR N 2 N N N Lynas Rare Earths Ltd 529900SGT9M1FJPXXI35 Lynas Rare Earths Ltd 000000000 35775.00000000 NS 285214.36000000 1.021444672615 Long EC CORP MY N 2 N N N Baidu Inc 254900AL64IANZYI1E02 Baidu Inc 056752108 2175.00000000 NS USD 287752.50000000 1.030534571109 Long EC CORP CN N 1 N N N Barry Callebaut AG 213800Y5RWKLDPUTT265 Barry Callebaut AG 000000000 55.00000000 NS 128944.87000000 0.461793194853 Long EC CORP CH N 2 N N N Globant SA 2221008DCMSPYS42DS88 Globant SA 000000000 2050.00000000 NS USD 537243.50000000 1.924042362286 Long EC CORP UY N 1 N N N Euronet Worldwide Inc YG3575C4DSHJPA5KET68 Euronet Worldwide Inc 298736109 1775.00000000 NS USD 231016.25000000 0.827343748926 Long EC CORP US N 1 N N N Mondelez International Inc 549300DV9GIB88LZ5P30 Mondelez International Inc 609207105 4800.00000000 NS USD 301344.00000000 1.079210119100 Long EC CORP US N 1 N N N Alimentation Couche-Tard Inc 549300OSW32RVX8CCZ87 Alimentation Couche-Tard Inc 01626P304 7400.00000000 NS 333374.40000000 1.193921318921 Long EC CORP CA N 1 N N N Shiseido Co Ltd 5299008QCD0YDT5OF506 Shiseido Co Ltd 000000000 4100.00000000 NS 207084.75000000 0.741637323827 Long EC CORP JP N 2 N N N DBS Group Holdings Ltd 5493007FKT78NKPM5V55 DBS Group Holdings Ltd 000000000 15600.00000000 NS 408754.69000000 1.463882465480 Long EC CORP SG N 2 N N N Keyence Corp 529900M7PQBS7A89DZ11 Keyence Corp 000000000 1000.00000000 NS 463702.62000000 1.660668736584 Long EC CORP JP N 2 N N N Roche Holding AG 549300U41AUUVOAAOB37 Roche Holding AG 000000000 1675.00000000 NS 662733.62000000 2.373462982411 Long EC CORP CH N 2 N N N Novartis AG 5493007HIVTX6SY6XD66 Novartis AG 000000000 1950.00000000 NS 171193.53000000 0.613099281553 Long EC CORP CH N 2 N N N Lonza Group AG 549300EFW4H2TCZ71055 Lonza Group AG 000000000 590.00000000 NS 427516.33000000 1.531073953410 Long EC CORP CH N 2 N N N BRP Inc 529900EPQGESIRCPY551 BRP Inc 05577W200 1675.00000000 NS 137145.94000000 0.491163873319 Long EC CORP CA N 1 N N N Astellas Pharma Inc 529900IB708DY2HBBB35 Astellas Pharma Inc 000000000 17700.00000000 NS 276560.66000000 0.990452980039 Long EC CORP JP N 2 N N N Diageo PLC 213800ZVIELEA55JMJ32 Diageo PLC 25243Q205 2775.00000000 NS USD 563713.50000000 2.018839975155 Long EC CORP GB N 1 N N N Partners Group Holding AG 549300I3IVVWZWDHI788 Partners Group Holding AG 000000000 490.00000000 NS 606719.29000000 2.172857588740 Long EC CORP CH N 2 N N N Terumo Corp 353800JX1R4582QVK932 Terumo Corp 000000000 13100.00000000 NS 396386.55000000 1.419588164473 Long EC CORP JP N 2 N N N ST Engineering 254900OEXGGWCR24DG90 Singapore Technologies Engineering Ltd 000000000 78400.00000000 NS 237477.52000000 0.850483642092 Long EC CORP SG N 2 N N N iShares MSCI India ETF 549300282VMCFH7S5848 iShares MSCI India ETF 46429B598 8700.00000000 NS USD 387759.00000000 1.388690123487 Long EC RF US N 1 N N N AIA Group Ltd ZP5ILWVSYE4LJGMMVD57 AIA Group Ltd 000000000 32200.00000000 NS 336228.72000000 1.204143560038 Long EC CORP HK N 2 N N N Cellnex Telecom SA 5493008T4YG3AQUI7P67 Cellnex Telecom SA 000000000 9442.00000000 NS 454390.66000000 1.627319602502 Long EC CORP ES N 2 N N N Colliers International Group I D3O8K13PHLEXXD1DT480 Colliers International Group Inc 194693107 1600.00000000 NS USD 208640.00000000 0.747207176014 Long EC CORP CA N 1 N N N Dassault Systemes SE 96950065LBWY0APQIM86 Dassault Systemes SE 000000000 13125.00000000 NS 644813.47000000 2.309285141751 Long EC CORP FR N 2 N N N 2022-05-20 SIT MUTUAL FUNDS INC Paul Rasmussen Paul Rasmussen VP, Treasurer & Chief Compliance Officer XXXX NPORT-EX 2 SI90SIT033122.htm HTML
    

SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2022

 

 

Sit International Growth Fund

Investments are grouped by geographic region.

 

 

  
Name of Issuer       Quantity       Fair Value ($)  

 

  

Common Stocks - 97.3%

    

Asia - 29.1%

   

Australia - 7.1%

   

Atlassian Corp., PLC *

    1,825       536,240  

BHP Group, Ltd., ADR

     4,200       324,450  

Lynas Rare Earths, Ltd. *

    35,775       285,214  

Macquarie Group, Ltd.

     2,600       393,209  

Rio Tinto, PLC, ADR

     4,400       353,760  

Westpac Banking Corp., ADR

     4,425       80,264  
   

 

 

  
      1,973,137  
   

 

 

  

China/Hong Kong - 7.9%

   

AIA Group, Ltd.

     32,200       336,229  

Alibaba Group Holding, Ltd., ADR *

    2,350       255,680  

Baidu, Inc., ADR *

    1,575       208,372  

Budweiser Brewing Co. APAC, Ltd.

     21,500       56,774  

China Tower Corp., Ltd.

     1,342,000       150,226  

CSPC Pharmaceutical Group, Ltd.

     262,960       301,312  

ENN Energy Holdings, Ltd.

     18,400       274,821  

JD.com, Inc. *

    385       10,940  

Ping An Insurance Group Co. of China, Ltd.

     33,500       234,201  

Tencent Holdings, Ltd.

     8,100       373,364  
   

 

 

  
      2,201,919  
   

 

 

  

Japan - 8.9%

   

Astellas Pharma, Inc.

     17,700       276,561  

Keyence Corp.

     1,000       463,703  

Recruit Holdings Co., Ltd.

     11,200       486,607  

Shiseido Co., Ltd.

     4,100       207,085  

Sony Group Corp., ADR

     6,300       647,073  

Terumo Corp.

     13,100       396,386  
   

 

 

  
      2,477,415  
   

 

 

  

Singapore - 2.8%

   

DBS Group Holdings, Ltd.

     15,600       408,755  

Sea, Ltd., ADR *

    1,175       140,753  

Singapore Technologies Engineering, Ltd.

     78,400       237,477  
   

 

 

  
      786,985  
   

 

 

  

South Korea - 2.4%

   

LG Chem, Ltd.

     975       426,042  

Samsung Electronics Co., Ltd., GDR

     185       260,764  
   

 

 

  
      686,806  
   

 

 

  

Europe - 58.3%

   

France - 9.1%

   

AXA SA

     11,750       343,973  

Dassault Systemes SE

     13,125       644,813  

Elis SA *

    8,125       119,724  

Faurecia SE

     7,975       207,420  

Safran SA

     3,200       376,754  

Schneider Electric SE

     5,000       839,452  
   

 

 

  
      2,532,136  
   

 

 

  

Germany - 6.1%

    

adidas AG

     550       128,164  

Allianz SE

     2,250       537,318  

Deutsche Post AG

     6,550       312,775  

Infineon Technologies AG

     5,700       192,831  

Muenchener Rueckversicherungs AG

     435       116,293  

 

    

    

 

  
Name of Issuer       Quantity       Fair Value ($)  

 

  

Siemens AG

     3,100       429,249  
   

 

 

  
      1,716,630  
   

 

 

  

Ireland - 2.6%

   

CRH, PLC, ADR

     4,800       192,288  

Linde, PLC

     500       159,715  

STERIS, PLC

     1,450       350,567  
   

 

 

  
      702,570  
   

 

 

  

Netherlands - 3.4%

   

ASML Holding NV

     1,025       684,629  

Stellantis NV

     16,375       266,421  
   

 

 

  
      951,050  
   

 

 

  

Spain - 3.4%

   

Cellnex Telecom SA

     9,442       454,391  

Iberdrola SA

     45,900       501,686  
   

 

 

  
      956,077  
   

 

 

  

Sweden - 2.4%

   

Hexagon AB

     26,600       372,687  

Telefonaktiebolaget LM Ericsson, ADR

     32,350       295,679  
   

 

 

  
      668,366  
   

 

 

  

Switzerland - 14.0%

   

Barry Callebaut AG

     55       128,945  

Garmin, Ltd.

     1,050       124,541  

Interroll Holding AG

     105       345,867  

Logitech International SA

     6,650       490,637  

Lonza Group AG

     590       427,516  

Nestle SA

     3,600       468,067  

Novartis AG

     1,950       171,194  

Partners Group Holding AG

     490       606,719  

Roche Holding AG

     1,675       662,734  

TE Connectivity, Ltd.

     1,100       144,078  

Zurich Insurance Group AG

     680       335,852  
   

 

 

  
      3,906,150  
   

 

 

  

United Kingdom - 17.3%

   

Ashtead Group, PLC

     5,500       346,304  

AstraZeneca, PLC, ADR

     8,300       550,622  

BAE Systems, PLC

     52,600       493,991  

Coca-Cola Europacific Partners, PLC

     5,400       262,494  

Compass Group, PLC

     5,925       127,507  

Dechra Pharmaceuticals, PLC

     6,300       334,480  

Diageo, PLC, ADR

     2,775       563,713  

Entain, PLC *

    13,925       298,288  

HomeServe, PLC

     15,225       168,603  

London Stock Exchange Group, PLC

     5,100       531,831  

Reckitt Benckiser Group, PLC

     3,100       236,486  

RELX, PLC

     12,275       381,869  

Shell, PLC, ADR

     2,550       140,072  

Smith & Nephew, PLC

     25,250       401,598  
   

 

 

  
      4,837,858  
   

 

 

  

Latin America - 1.9%

   

Argentina - 1.9%

   

Globant SA *

    2,050       537,243  
   

 

 

  
 

 

   
MARCH 31, 2022    1

    

SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2022

Sit International Growth Fund (Continued)

 

 

  
Name of Issuer       Quantity       Fair Value ($)  

 

  

North America - 8.0%

   

Canada - 3.8%

   

Alimentation Couche-Tard, Inc.

     7,400       333,375  

BRP, Inc.

     1,675       137,146  

Colliers International Group, Inc.

     1,600       208,640  

Waste Connections, Inc.

     2,750       384,175  
   

 

 

  
      1,063,336  
   

 

 

  

United States - 4.2%

   

Broadcom, Inc.

     1,025       645,422  

Euronet Worldwide, Inc. *

    1,775       231,016  

Mondelez International, Inc.

     4,800       301,344  
   

 

 

  
      1,177,782  
   

 

 

  

Total Common Stocks
(cost: $18,408,295)

       27,175,460  
   

 

 

  

Investment Companies 1.4%

    

iShares MSCI India ETF
(cost $258,117)

     8,700       387,760  
   

 

 

  

Short-Term Securities - 0.8%

   

Fidelity Inst. Money Mkt. Gvt. Fund, 0.12%
(cost $226,998)

     226,998       226,998  
   

 

 

  

Total Investments in Securities - 99.5%
(cost $18,893,410)

 

     27,790,218  

Other Assets and Liabilities, net - 0.5%

 

     135,598  
   

 

 

  

Total Net Assets - 100.0%

       $27,925,816  
   

 

 

  

 

 

 

*

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)

Finance

          15.3%

Health Technology

      13.9

Producer Manufacturing

      11.8

Electronic Technology

      11.8

Technology Services

      11.3

Consumer Non-Durables

        8.4

Non-Energy Minerals

        4.1

Consumer Durables

        3.8

Consumer Services

        2.9

Utilities

        2.8

Communications

        2.2

Retail Trade

        2.1

Process Industries

        2.1

Commercial Services

        1.8

Industrial Services

        1.4

Transportation

        1.1

Energy Minerals

        0.5

Investment Companies

        1.4

Short-Term Securities

        0.8
  

 

     99.5

Other Assets and Liabilities, net

        0.5
  

 

     100.0%
  

 

 

 

   
2   

    

SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2022

Sit International Growth Fund (Continued)

 

A summary of the levels for the Fund’s investments as of March 31, 2022 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

      537,243        —                  —                537,243    

Australia

      1,214,450        758,687                  —                1,973,137    

Canada

      1,063,336        —                  —                1,063,336    

China/Hong Kong

      464,052        1,737,867                  —                2,201,919    

France

      —        2,532,136                  —                2,532,136    

Germany

      —        1,716,630                  —                1,716,630    

Ireland

      702,570        —                  —                702,570    

Japan

      647,073        1,830,342                  —                2,477,415    

Netherlands

      684,629        266,421                  —                951,050    

Singapore

      140,753        646,232                  —                786,985    

South Korea

      —        686,806                  —                686,806    

Spain

      —        956,077                  —                956,077    

Sweden

      295,679        372,687                  —                668,366    

Switzerland

      759,256        3,146,894                  —                3,906,150    

United Kingdom

      1,685,504        3,152,354                  —                4,837,858    

United States

      1,177,782        —                  —                1,177,782    

Investment Companies

      387,760        —                  —                387,760    

Short-Term Securities

      226,998        —                  —                226,998    
  

 

 

  

Total:

      9,987,085        17,803,133                  —                27,790,218    
  

 

 

  

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.

 

   
MARCH 31, 2022    3