0001752724-23-109892.txt : 20230522 0001752724-23-109892.hdr.sgml : 20230522 20230522131808 ACCESSION NUMBER: 0001752724-23-109892 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20230331 FILED AS OF DATE: 20230522 DATE AS OF CHANGE: 20230522 PERIOD START: 20230630 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: 23943586 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 S000023468 Sit Global Dividend Growth Fund C000069003 Sit Global Dividend Growth Fund - Class I GDGIX C000071096 Sit Global Dividend Growth Fund - Class S GDGSX NPORT-P 1 primary_doc.xml NPORT-P false 0000877880 XXXXXXXX S000023468 C000071096 C000069003 SIT MUTUAL FUNDS INC 811-06373 0000877880 254900G3NOOZ0B3T2Q46 80 S. Eighth Street Suite 3300 Minneapolis 55402 612-332-3223 Sit Global Dividend Growth Fund S000023468 254900TZG570AN0A5V42 2023-06-30 2023-03-31 N 44581764.47 38556.58 44543207.89 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 32184.47000000 N Recruit Holdings Co Ltd 353800R2LRSMVVC4I806 Recruit Holdings Co Ltd 000000000 10800.00000000 NS 297097.62000000 0.666987480411 Long EC CORP JP N 2 N N N Shell PLC 21380068P1DRHMJ8KU70 Shell PLC 780259305 20525.00000000 NS USD 1181008.50000000 2.651377293967 Long EC CORP GB N 1 N N N Lockheed Martin Corp DPRBOZP0K5RM2YE8UU08 Lockheed Martin Corp 539830109 1565.00000000 NS USD 739822.45000000 1.660909676346 Long EC CORP US N 1 N N N AES Corp/The 2NUNNB7D43COUIRE5295 AES Corp/The 00130H105 5100.00000000 NS USD 122808.00000000 0.275705333803 Long EC CORP US N 1 N N N PepsiCo Inc FJSUNZKFNQ5YPJ5OT455 PepsiCo Inc 713448108 4875.00000000 NS USD 888712.50000000 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25243Q205 4225.00000000 NS USD 765485.50000000 1.718523510678 Long EC CORP GB N 1 N N N Apple Inc HWUPKR0MPOU8FGXBT394 Apple Inc 037833100 19200.00000000 NS USD 3166080.00000000 7.107885017663 Long EC CORP US N 1 N N N Equifax Inc 5493004MCF8JDC86VS77 Equifax Inc 294429105 1000.00000000 NS USD 202840.00000000 0.455378069089 Long EC CORP US N 1 N N N T Rowe Price Group Inc 549300SIV6FPS9Y7IH33 T Rowe Price Group Inc 74144T108 2450.00000000 NS USD 276605.00000000 0.620981319268 Long EC CORP US N 1 N N N Linde PLC 5299003QR1WT0EF88V51 Linde PLC 000000000 1475.00000000 NS USD 524274.00000000 1.177000994842 Long EC CORP US N 1 N N N London Stock Exchange Group PL 213800QAUUUP6I445N30 London Stock Exchange Group PLC 000000000 6875.00000000 NS 667767.00000000 1.499144385040 Long EC CORP GB N 2 N N N BAE Systems PLC 8SVCSVKSGDWMW2QHOH83 BAE Systems PLC 000000000 74675.00000000 NS 903279.17000000 2.027871841270 Long EC CORP GB N 2 N N N Honeywell International Inc ISRPG12PN4EIEOEMW547 Honeywell International Inc 438516106 3200.00000000 NS USD 611584.00000000 1.373012921544 Long EC CORP US N 1 N N N FIDELITY INVESTMENTS MONEY MARKET FUNDS - GOVERNMENT PORTFOLIO 549300FQDFZGLUOCWN51 FIDELITY GOVERNMENT PORT-I 316175108 985716.63000000 NS USD 985716.63000000 2.212944861165 Long STIV RF US N 1 N N N Constellation Brands Inc 5493005GKEG8QCVY7037 Constellation Brands Inc 21036P108 2750.00000000 NS USD 621197.50000000 1.394595336586 Long EC CORP US N 1 N N N Bank of America Corp 9DJT3UXIJIZJI4WXO774 Bank of America Corp 060505104 8500.00000000 NS USD 243100.00000000 0.545762219461 Long EC CORP US N 1 N N N ConocoPhillips WPTL2Z3FIYTHSP5V2253 ConocoPhillips 20825C104 4125.00000000 NS USD 409241.25000000 0.918751184267 Long EC CORP US N 1 N N N McDonald's Corp UE2136O97NLB5BYP9H04 McDonald's Corp 580135101 1860.00000000 NS USD 520074.60000000 1.167573294865 Long EC CORP US N 1 N N N Deutsche Post AG 8ER8GIG7CSMVD8VUFE78 Deutsche Post AG 000000000 4050.00000000 NS 189684.37000000 0.425843532572 Long EC CORP DE N 2 N N N Union Pacific Corp 549300LMMRSZZCZ8CL11 Union Pacific Corp 907818108 4050.00000000 NS USD 815103.00000000 1.829915353229 Long EC CORP US N 1 N N N Broadcom Inc 549300WV6GIDOZJTV909 Broadcom Inc 11135F101 1825.00000000 NS USD 1170810.50000000 2.628482669886 Long EC CORP US N 1 N N N Compass Group PLC 2138008M6MH9OZ6U2T68 Compass Group PLC 000000000 14500.00000000 NS 364407.63000000 0.818099205831 Long EC CORP GB N 2 N N N Allianz SE 529900K9B0N5BT694847 Allianz SE 018820100 35000.00000000 NS USD 806750.00000000 1.811162774787 Long EC CORP DE N 1 N N N Thermo Fisher Scientific Inc HCHV7422L5HDJZCRFL38 Thermo Fisher Scientific Inc 883556102 1175.00000000 NS USD 677234.75000000 1.520399589702 Long EC CORP US N 1 N N N CVS Health Corp 549300EJG376EN5NQE29 CVS Health Corp 126650100 6625.00000000 NS USD 492303.75000000 1.105227425954 Long EC CORP US N 1 N N N Atlassian Corp 549300V7ZY5P02D2MY38 Atlassian Corp 049468101 3525.00000000 NS USD 603374.25000000 1.354581940955 Long EC CORP AU N 1 N N N Chubb Ltd E0JAN6VLUDI1HITHT809 Chubb Ltd 000000000 2650.00000000 NS USD 514577.00000000 1.155231121365 Long EC CORP CH N 1 N N N Lonza Group AG 549300EFW4H2TCZ71055 Lonza Group AG 000000000 950.00000000 NS 571899.72000000 1.283921269012 Long EC CORP CH N 2 N N N Safran SA 969500UIC89GT3UL7L24 Safran SA 786584102 7700.00000000 NS USD 285054.00000000 0.639949418784 Long EC CORP FR N 1 N N N Applied Materials Inc 41BNNE1AFPNAZELZ6K07 Applied Materials Inc 038222105 8175.00000000 NS USD 1004135.25000000 2.254294869107 Long EC CORP US N 1 N N N Alphabet Inc 5493006MHB84DD0ZWV18 Alphabet Inc 02079K305 9000.00000000 NS USD 933570.00000000 2.095875093472 Long EC CORP US N 1 N N N WEC Energy Group Inc 549300IGLYTZUK3PVP70 WEC Energy Group Inc 92939U106 6150.00000000 NS USD 582958.50000000 1.308748353822 Long EC CORP US N 1 N N N AstraZeneca PLC PY6ZZQWO2IZFZC3IOL08 AstraZeneca PLC 046353108 15400.00000000 NS USD 1068914.00000000 2.399723887510 Long EC CORP GB N 1 N N N Salesforce Inc RCGZFPDMRW58VJ54VR07 Salesforce Inc 79466L302 725.00000000 NS USD 144840.50000000 0.325168542772 Long EC CORP US N 1 N N N Trane Technologies PLC 549300BURLR9SLYY2705 Trane Technologies PLC 000000000 2175.00000000 NS USD 400156.50000000 0.898355818889 Long EC CORP IE N 1 N N N Nestle SA KY37LUS27QQX7BB93L28 Nestle SA 000000000 6075.00000000 NS 740728.18000000 1.662943050328 Long EC CORP CH N 2 N N N Sherwin-Williams Co/The Z15BMIOX8DDH0X2OBP21 Sherwin-Williams Co/The 824348106 1875.00000000 NS USD 421443.75000000 0.946145933271 Long EC CORP US N 1 N N N Mondelez International Inc 549300DV9GIB88LZ5P30 Mondelez International Inc 609207105 7100.00000000 NS USD 495012.00000000 1.111307477500 Long EC CORP US N 1 N N N RELX PLC 549300WSX3VBUFFJOO66 RELX PLC 000000000 14450.00000000 NS 468008.42000000 1.050684138321 Long EC CORP GB N 2 N N N Partners Group Holding AG 549300I3IVVWZWDHI788 Partners Group Holding AG 000000000 725.00000000 NS 682748.89000000 1.532778895687 Long EC CORP CH N 2 N N N Euronet Worldwide Inc YG3575C4DSHJPA5KET68 Euronet Worldwide Inc 298736109 2800.00000000 NS USD 313320.00000000 0.703406904984 Long EC CORP US N 1 N N N ST Engineering 254900OEXGGWCR24DG90 Singapore Technologies Engineering Ltd 000000000 158600.00000000 NS 436603.23000000 0.980179135454 Long EC CORP SG N 2 N N N Siemens AG W38RGI023J3WT1HWRP32 Siemens AG 000000000 4350.00000000 NS 704717.01000000 1.582097570835 Long EC CORP DE N 2 N N N Arthur J Gallagher & Co 54930049QLLMPART6V29 Arthur J Gallagher & Co 363576109 3775.00000000 NS USD 722195.25000000 1.621336415157 Long EC CORP US N 1 N N N Home Depot Inc/The QEKMOTMBBKA8I816DO57 Home Depot Inc/The 437076102 2550.00000000 NS USD 752556.00000000 1.689496638541 Long EC CORP US N 1 N N N Cheniere Energy Inc MIHC87W9WTYSYZWV1J40 Cheniere Energy Inc 16411R208 2900.00000000 NS USD 457040.00000000 1.026059912722 Long EC CORP US N 1 N N N UnitedHealth Group Inc 549300GHBMY8T5GXDE41 UnitedHealth Group Inc 91324P102 1625.00000000 NS USD 767958.75000000 1.724075984595 Long EC CORP US N 1 N N N Woodside Energy Group Ltd 2549005ZC5RXAOO7FH41 Woodside Energy Group Ltd 980228308 2222.00000000 NS USD 49839.46000000 0.111890145233 Long EC CORP AU N 1 N N N Macquarie Group Ltd ACMHD8HWFMFUIQQ8Y590 Macquarie Group Ltd 000000000 3900.00000000 NS 461758.79000000 1.036653649059 Long EC CORP AU N 2 N N N 2023-05-18 SIT MUTUAL FUNDS INC Paul Rasmussen Paul Rasmussen VP, Treasurer & Chief Compliance Officer XXXX NPORT-EX 2 SI91SIT033123.htm HTML

 

SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2023

Sit Global Dividend Growth Fund

Investments are grouped by geographic region.

 

     
Name of Issuer    Quantity      Fair Value ($)  

Common Stocks - 97.5%

      

Asia - 6.0%

     

Australia - 3.4%

     

Atlassian Corp. *

     3,525        603,374  

BHP Group, Ltd. ADR

      6,150        389,972  

Macquarie Group, Ltd.

      3,900        461,759  

Woodside Energy Group, Ltd., ADR

      2,222        49,839  
     

 

 

  
     

 

 

 

1,504,944

 

 

     

 

 

  

Japan - 1.6%

     

Astellas Pharma, Inc.

      29,900        424,799  

Recruit Holdings Co., Ltd.

      10,800        297,098  
     

 

 

  
     

 

 

 

721,897

 

 

     

 

 

  

Singapore - 1.0%

     

Singapore Technologies Engineering, Ltd.

      158,600        436,603  
     

 

 

  

Europe - 33.6%

     

France - 0.6%

     

Safran SA, ADR

      7,700        285,054  
     

 

 

  

Germany - 5.6%

     

Allianz SE, ADR

      35,000        806,750  

Deutsche Post AG

      4,050        189,684  

Infineon Technologies AG

      6,425        263,844  

Muenchener Rueckversicherungs AG

      1,500        524,454  

Siemens AG

      4,350        704,717  

Siemens Energy AG *

     1,600        35,282  
     

 

 

  
     

 

 

 

2,524,731

 

 

     

 

 

  

Ireland - 4.9%

     

Accenture, PLC

      3,675        1,050,352  

Linde, PLC

      1,475        524,274  

Medtronic, PLC

      2,625        211,627  

Trane Technologies, PLC

      2,175        400,157  
     

 

 

  
     

 

 

 

2,186,410

 

 

     

 

 

  

Spain - 1.7%

     

Iberdrola SA

      60,400        752,452  
     

 

 

  

Switzerland - 6.9%

     

Chubb, Ltd.

      2,650        514,577  

Logitech International SA

      9,625        558,827  

Lonza Group AG

      950        571,900  

Nestle SA

      6,075        740,728  

Partners Group Holding AG

      725        682,749  
     

 

 

  
     

 

 

 

3,068,781

 

 

     

 

 

  

United Kingdom - 13.9%

     

AstraZeneca, PLC, ADR

      15,400        1,068,914  

BAE Systems, PLC

      74,675        903,279  

Compass Group, PLC

      14,500        364,408  

Diageo, PLC, ADR

      4,225        765,485  

Glencore, PLC, ADR

      25,200        288,288  

London Stock Exchange Group, PLC

      6,875        667,767  

Man Group, PLC

      162,675        473,909  

RELX, PLC

      14,450        468,008  

Shell, PLC, ADR

      20,525        1,181,009  
     

 

 

  
     

 

 

 

6,181,067

 

 

     

 

 

  
     
Name of Issuer    Quantity      Fair Value ($)  

North America - 57.9%

     

United States - 57.9%

     

Abbott Laboratories

      7,400        749,324  

AES Corp.

      5,100        122,808  

Alphabet, Inc. - Class A *

     9,000        933,570  

Apple, Inc.

      19,200        3,166,080  

Applied Materials, Inc.

      8,175        1,004,135  

Arthur J Gallagher & Co.

      3,775        722,195  

Bank of America Corp.

      8,500        243,100  

Broadcom, Inc.

      1,825        1,170,810  

Cheniere Energy, Inc.

      2,900        457,040  

ConocoPhillips

      4,125        409,241  

Constellation Brands, Inc.

      2,750        621,198  

CVS Health Corp.

      6,625        492,304  

Equifax, Inc.

      1,000        202,840  

Euronet Worldwide, Inc. *

     2,800        313,320  

FedEx Corp.

      1,950        445,556  

Goldman Sachs Group, Inc.

      1,400        457,954  

Home Depot, Inc.

      2,550        752,556  

Honeywell International, Inc.

      3,200        611,584  

Johnson & Johnson

      6,925        1,073,375  

JPMorgan Chase & Co.

      7,350        957,778  

Lockheed Martin Corp.

      1,565        739,822  

McDonald’s Corp.

      1,860        520,075  

Microsoft Corp.

      10,725        3,092,017  

Mondelez International, Inc.

      7,100        495,012  

Otis Worldwide Corp.

      3,875        327,050  

PepsiCo, Inc.

      4,875        888,712  

Salesforce, Inc. *

     725        144,841  

Sherwin-Williams Co.

      1,875        421,444  

Starbucks Corp.

      2,950        307,184  

T Rowe Price Group, Inc.

      2,450        276,605  

Thermo Fisher Scientific, Inc.

      1,175        677,235  

Union Pacific Corp.

      4,050        815,103  

UnitedHealth Group, Inc.

      1,625        767,959  

Waste Management, Inc.

      5,100        832,167  

WEC Energy Group, Inc.

      6,150        582,958  
     

 

 

  
     

 

 

 

25,794,952

 

 

     

 

 

  

Total Common Stocks
(cost: $25,743,180)

         43,456,891  
     

 

 

  

Short-Term Securities - 2.3%

     

Fidelity Inst. Money Mkt. Gvt. Fund, 4.72%
(cost $1,020,497)

      1,020,497        1,020,497  
     

 

 

  

Total Investments in Securities - 99.8%
(cost $26,763,677)

         44,477,388  

Other Assets and Liabilities, net - 0.2%

         67,307  
     

 

 

  

Net Assets - 100.0%

      

 

 

 

$44,544,695

 

 

     

 

 

  

     

  

   

 

*

Non-income producing security.

 

 

ADR — American Depositary Receipt

 

 

PLC — Public Limited Company

 

 

 

   
MARCH 31, 2023    1

 

SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2023

Sit Global Dividend Growth Fund (Continued)

 

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

 

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

Finance

     15.2%              

Technology Services

     14.4                  

Electronic Technology

     13.8                  

Health Technology

     10.7                  

Producer Manufacturing

     10.0                  

Consumer Non-Durables

     7.9                  

Consumer Services

     3.7                  

Energy Minerals

     3.7                  

Utilities

     3.3                  

Transportation

     3.3                  

Industrial Services

     2.9                  

Retail Trade

     2.8                  

Process Industries

     2.1                  

Health Services

     1.7                  

Non-Energy Minerals

     1.5                  

Commercial Services

     0.5                  

Short-Term Securities

     2.3                  
 

 

 

  
 

 

 

 

99.8                

 

 

Other Assets and Liabilities, net

     0.2                  
 

 

 

  
 

 

 

 

100.0%            

 

 

 

 

 

  

 

    

 

 

A summary of the levels for the Fund’s investments as of March 31, 2023 is as follows:

 

    

Investment in Securities

  
    

 

Level 1        

     

 

Level 2

     

 

Level 3

         
     Quoted        
Prices ($)        		      Other significant
observable inputs ($)		      Significant
unobservable inputs ($)		              Total ($)          

Common Stocks

            

Australia

      1,043,185        461,759                —                1,504,944  

France

      285,054        —                —                285,054  

Germany

      806,750        1,717,981                —                2,524,731  

Ireland

      2,186,410        —                —                2,186,410  

Japan

      —        721,897                —                721,897  

Singapore

      —        436,603                —                436,603  

Spain

      —        752,452                —                752,452  

Switzerland

      1,073,404        1,995,377                —                3,068,781  

United Kingdom

      3,303,696        2,877,371                —                6,181,067  

United States

      25,794,952        —                —                25,794,952  

Short-Term Securities

      1,020,497        —                —                1,020,497  

Total:

      35,513,948        8,963,440                —                44,477,388  

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.

 

 

   
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