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SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2022

 

 

Sit Dividend Growth Fund

Investments are grouped by economic sectors.

 

 

  
Name of Issuer       Quantity          Fair Value ($)  

 

  

Common Stocks - 98.7%

       

Commercial Services - 1.5%

       

Booz Allen Hamilton Holding Corp.

     21,150          1,857,816  

Equifax, Inc.

     7,425          1,760,468  
      

 

 

  
         3,618,284  
      

 

 

  

Communications - 1.8%

       

American Tower Corp.

     17,500          4,396,350  
      

 

 

  

Consumer Durables - 0.6%

       

Activision Blizzard, Inc.

     18,325          1,468,016  
      

 

 

  

Consumer Non-Durables - 5.7%

       

Constellation Brands, Inc.

     9,700          2,234,104  

Mondelez International, Inc.

     36,300          2,278,914  

NIKE, Inc.

     14,500          1,951,120  

PepsiCo, Inc.

     21,925          3,669,807  

Procter & Gamble Co.

     24,900          3,804,720  
      

 

 

  
         13,938,665  
      

 

 

  

Consumer Services - 2.5%

       

McDonald’s Corp.

     10,450          2,584,076  

Visa, Inc.

     15,805          3,505,075  
      

 

 

  
         6,089,151  
      

 

 

  

Electronic Technology - 16.7%

       

Analog Devices, Inc.

     23,500          3,881,730  

Apple, Inc.

     83,350          14,553,743  

Applied Materials, Inc.

     31,925          4,207,715  

Broadcom, Inc.

     10,350          6,517,188  

Marvell Technology, Inc.

     35,500          2,545,705  

NVIDIA Corp.

     7,250          1,978,235  

Qualcomm, Inc.

     11,700          1,787,994  

Skyworks Solutions, Inc.

     18,925          2,522,324  

TE Connectivity, Ltd.

     20,550          2,691,639  
      

 

 

  
         40,686,273  
      

 

 

  

Energy Minerals - 1.9%

       

ConocoPhillips

     46,000          4,600,000  
      

 

 

  

Finance - 14.2%

       

Air Lease Corp.

     29,175          1,302,664  

American International Group, Inc.

     42,775          2,684,987  

Ameriprise Financial, Inc.

     11,300          3,394,068  

Chubb, Ltd.

     11,150          2,384,985  

Everest Re Group, Ltd.

     10,575          3,187,093  

MetLife, Inc.

     30,675          2,155,839  

Morgan Stanley

     55,500          4,850,700  

Realty Income Corp.

     56,475          3,913,717  

Regions Financial Corp.

     86,750          1,931,055  

State Street Corp.

     31,050          2,705,076  

STORE Capital Corp.

     50,900          1,487,807  

Truist Financial Corp.

     84,500          4,791,150  
      

 

 

  
         34,789,141  
      

 

 

  

Health Services - 2.7%

       

HCA Healthcare, Inc.

     9,850          2,468,607  

UnitedHealth Group, Inc.

     8,150          4,156,256  
      

 

 

  
         6,624,863  
      

 

 

  

Health Technology - 12.7%

       

Abbott Laboratories

     20,575          2,435,257  

    

    

 

  
Name of Issuer       Quantity          Fair Value ($)  

 

  

AbbVie, Inc.

     20,050          3,250,305  

Agilent Technologies, Inc.

     18,275          2,418,331  

AstraZeneca, PLC, ADR

     60,750          4,030,155  

Baxter International, Inc.

     61,525          4,770,649  

Johnson & Johnson

     39,575          7,013,877  

Medtronic, PLC

     42,350          4,698,732  

Thermo Fisher Scientific, Inc.

     4,300          2,539,795  
      

 

 

  
         31,157,101  
      

 

 

  

Industrial Services - 1.1%

       

Jacobs Engineering Group, Inc.

     19,450          2,680,405  
      

 

 

  

Non-Energy Minerals - 1.2%

       

BHP Group, Ltd., ADR

     36,800          2,842,800  
      

 

 

  

Process Industries - 3.6%

       

Air Products & Chemicals, Inc.

     14,325          3,579,961  

DuPont de Nemours, Inc.

     44,600          3,281,668  

Nutrien, Ltd.

     17,750          1,845,822  
      

 

 

  
         8,707,451  
      

 

 

  

Producer Manufacturing - 6.0%

       

Carlisle Cos, Inc.

     12,405          3,050,638  

Eaton Corp., PLC

     19,550          2,966,908  

General Dynamics Corp.

     11,775          2,839,894  

Parker-Hannifin Corp.

     9,600          2,724,096  

Siemens AG, ADR

     44,300          3,062,902  
      

 

 

  
         14,644,438  
      

 

 

  

Retail Trade - 4.7%

       

CVS Health Corp.

     33,175          3,357,642  

Home Depot, Inc. *

    9,150          2,738,869  

Target Corp.

     12,260          2,601,817  

TJX Cos., Inc.

     45,650          2,765,477  
      

 

 

  
         11,463,805  
      

 

 

  

Technology Services - 13.8%

       

Accenture, PLC

     11,200          3,776,976  

Alphabet, Inc. - Class A *

    1,970          5,479,260  

Genpact, Ltd.

     55,675          2,422,419  

Intuit, Inc.

     4,600          2,211,864  

Microsoft Corp.

     51,015          15,728,435  

Oracle Corp.

     50,639          4,189,364  
      

 

 

  
         33,808,318  
      

 

 

  

Transportation - 2.0%

       

FedEx Corp.

     7,975          1,845,335  

Union Pacific Corp.

     11,450          3,128,255  
      

 

 

  
         4,973,590  
      

 

 

  

Utilities - 6.0%

       

AES Corp.

     81,950          2,108,573  

Alliant Energy Corp.

     57,100          3,567,608  

Entergy Corp.

     28,850          3,368,238  

NextEra Energy, Inc.

     37,550          3,180,860  

Xcel Energy, Inc.

     33,000          2,381,610  
      

 

 

  
         14,606,889  
      

 

 

  

Total Common Stocks
(cost: $179,540,353)

          241,095,540  
      

 

 

  
 

 

   
MARCH 31, 2022    1

    

SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2022

Sit Dividend Growth Fund (Continued)

 

 

  
Name of Issuer       Quantity          Fair Value ($)  

 

  

Short-Term Securities - 1.3%

      

Fidelity Inst. Money Mkt. Gvt. Fund, 0.12%
(cost $3,101,454)

     3,101,454          3,101,454  
      

 

 

  

Total Investments in Securities - 100.0%
(cost $182,641,807)

          244,196,994  

Other Assets and Liabilities, net - 0.0%

          80,132  
      

 

 

  

Total Net Assets - 100.0%

          $244,277,126  
      

 

 

  

 

 

 

*

Non-income producing security.

ADR — American Depositary Receipt

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, 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**

     241,095,540        —                —                241,095,540  

Short-Term Securities

      3,101,454        —                —                3,101,454  
  

 

 

  

Total:

      244,196,994        —                —                244,196,994  
  

 

 

  

 

**

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.

 

   
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