SCHEDULE OF INVESTMENTS (Unaudited) March 31, 2020
Sit Small Cap Growth Fund Investments are grouped by economic sectors. |
Name of Issuer |
Quantity | Fair Value ($) | ||||||
Common Stocks - 97.5% | ||||||||
Commercial Services - 4.8% | ||||||||
ASGN, Inc.* | 25,100 | 886,532 | ||||||
Booz Allen Hamilton Holding Corp. | 20,000 | 1,372,800 | ||||||
Brink’s Co. | 16,000 | 832,800 | ||||||
Colliers International Group, Inc. | 14,225 | 682,942 | ||||||
|
| |||||||
3,775,074 | ||||||||
|
| |||||||
Communications - 1.4% | ||||||||
Shenandoah Telecommunications Co. | 22,700 | 1,117,975 | ||||||
|
| |||||||
Consumer Durables - 4.7% | ||||||||
Acushnet Holdings Corp. | 30,800 | 792,176 | ||||||
BRP, Inc. | 12,450 | 204,055 | ||||||
Take-Two Interactive Software, Inc.* | 10,300 | 1,221,683 | ||||||
Thor Industries, Inc. | 11,200 | 472,416 | ||||||
YETI Holdings, Inc.* | 53,700 | 1,048,224 | ||||||
|
| |||||||
3,738,554 | ||||||||
|
| |||||||
Consumer Services - 8.5% | ||||||||
Chegg, Inc.* | 45,975 | 1,644,986 | ||||||
Dunkin’ Brands Group, Inc. | 12,800 | 679,680 | ||||||
Grand Canyon Education, Inc.* | 3,600 | 274,626 | ||||||
Nexstar Media Group, Inc. | 15,225 | 878,939 | ||||||
Service Corp. International | 28,600 | 1,118,546 | ||||||
Strategic Education, Inc. | 9,100 | 1,271,816 | ||||||
Vail Resorts, Inc. | 5,600 | 827,176 | ||||||
|
| |||||||
6,695,769 | ||||||||
|
| |||||||
Electronic Technology - 9.9% | ||||||||
Arista Networks, Inc.* | 7,800 | 1,579,890 | ||||||
Cabot Microelectronics Corp. | 8,825 | 1,007,286 | ||||||
Ciena Corp.* | 26,250 | 1,045,012 | ||||||
MKS Instruments, Inc. | 15,750 | 1,282,838 | ||||||
Monolithic Power Systems, Inc. | 10,200 | 1,708,092 | ||||||
Skyworks Solutions, Inc. | 13,200 | 1,179,816 | ||||||
|
| |||||||
7,802,934 | ||||||||
|
| |||||||
Energy Minerals - 0.8% | ||||||||
Delek US Holdings, Inc. | 21,300 | 335,688 | ||||||
Marathon Petroleum Corp. | 11,926 | 281,692 | ||||||
|
| |||||||
617,380 | ||||||||
|
| |||||||
Finance - 5.5% | ||||||||
Axis Capital Holdings, Ltd. | 22,925 | 886,051 | ||||||
Essential Properties Realty Trust, Inc. | 9,700 | 126,682 | ||||||
First Republic Bank | 6,400 | 526,592 | ||||||
Legg Mason, Inc. | 24,800 | 1,211,480 | ||||||
Physicians Realty Trust | 49,000 | 683,060 | ||||||
Selective Insurance Group, Inc. | 6,425 | 319,322 | ||||||
SVB Financial Group* | 3,775 | 570,327 | ||||||
|
| |||||||
4,323,514 | ||||||||
|
|
Name of Issuer |
Quantity | Fair Value ($) | ||||||
Health Services - 4.1% | ||||||||
Encompass Health Corp. | 14,600 | 934,838 | ||||||
Teladoc Health, Inc.* | 14,900 | 2,309,649 | ||||||
|
| |||||||
3,244,487 | ||||||||
|
| |||||||
Health Technology - 14.5% | ||||||||
Align Technology, Inc.* | 3,600 | 626,220 | ||||||
AtriCure, Inc.* | 33,700 | 1,131,983 | ||||||
Bio-Techne Corp. | 4,800 | 910,176 | ||||||
Exact Sciences Corp.* | 15,700 | 910,600 | ||||||
Insulet Corp.* | 4,950 | 820,116 | ||||||
iRhythm Technologies, Inc.* | 17,600 | 1,431,760 | ||||||
Kindred Biosciences, Inc.* | 58,725 | 234,900 | ||||||
PerkinElmer, Inc. | 8,400 | 632,352 | ||||||
Sarepta Therapeutics, Inc.* | 13,400 | 1,310,788 | ||||||
STAAR Surgical Co.* | 28,850 | 930,701 | ||||||
STERIS, PLC | 9,100 | 1,273,727 | ||||||
Wright Medical Group NV* | 40,800 | 1,168,920 | ||||||
|
| |||||||
11,382,243 | ||||||||
|
| |||||||
Industrial Services - 6.7% | ||||||||
Advanced Disposal Services, Inc.* | 48,100 | 1,577,680 | ||||||
EMCOR Group, Inc. | 15,800 | 968,856 | ||||||
KBR, Inc. | 43,500 | 899,580 | ||||||
Waste Connections, Inc. | 23,100 | 1,790,250 | ||||||
|
| |||||||
5,236,366 | ||||||||
|
| |||||||
Non-Energy Minerals - 1.9% | ||||||||
Trex Co., Inc.* | 18,700 | 1,498,618 | ||||||
|
| |||||||
Process Industries - 2.6% | ||||||||
Domtar Corp. | 15,800 | 341,912 | ||||||
ScottsMiracle-Gro Co. | 16,800 | 1,720,320 | ||||||
|
| |||||||
2,062,232 | ||||||||
|
| |||||||
Producer Manufacturing - 10.0% | ||||||||
Apogee Enterprises, Inc. | 23,600 | 491,352 | ||||||
Crane Co. | 15,400 | 757,372 | ||||||
H&E Equipment Services, Inc. | 44,825 | 658,031 | ||||||
Hubbell, Inc. | 10,000 | 1,147,400 | ||||||
IDEX Corp. | 6,100 | 842,471 | ||||||
Lincoln Electric Holdings, Inc. | 8,900 | 614,100 | ||||||
MSA Safety, Inc. | 11,400 | 1,153,680 | ||||||
Oshkosh Corp. | 13,800 | 887,754 | ||||||
Rexnord Corp. | 23,600 | 535,012 | ||||||
Watsco, Inc. | 5,050 | 798,052 | ||||||
|
| |||||||
7,885,224 | ||||||||
|
| |||||||
Retail Trade - 1.4% | ||||||||
Casey’s General Stores, Inc. | 4,300 | 569,707 | ||||||
Ulta Beauty, Inc.* | 3,050 | 535,885 | ||||||
|
| |||||||
1,105,592 | ||||||||
|
|
MARCH 31, 2020 | 1 |
SCHEDULE OF INVESTMENTS (Unaudited) March 31, 2020
Sit Small Cap Growth Fund (Continued) |
Name of Issuer |
Quantity | Fair Value ($) | ||||||
Technology Services - 17.2% | ||||||||
Altair Engineering, Inc.* | 29,983 | 794,549 | ||||||
ANSYS, Inc.* | 3,725 | 865,951 | ||||||
Aspen Technology, Inc.* | 14,500 | 1,378,515 | ||||||
Euronet Worldwide, Inc.* | 16,600 | 1,422,952 | ||||||
Globant SA* | 15,900 | 1,397,292 | ||||||
GoDaddy, Inc.* | 15,025 | 858,078 | ||||||
Guidewire Software, Inc.* | 6,975 | 553,187 | ||||||
HubSpot, Inc.* | 9,450 | 1,258,646 | ||||||
Paycom Software, Inc.* | 7,450 | 1,504,974 | ||||||
PTC, Inc.* | 17,600 | 1,077,296 | ||||||
Qualys, Inc.* | 10,050 | 874,250 | ||||||
Science Applications International Corp. | 14,800 | 1,104,524 | ||||||
Talend SA, ADR* | 19,100 | 428,413 | ||||||
|
| |||||||
13,518,627 | ||||||||
|
| |||||||
Transportation - 2.2% | ||||||||
Alaska Air Group, Inc. | 11,500 | 327,405 | ||||||
Knight-Swift Transportation Holdings, Inc. | 13,500 | 442,800 | ||||||
Marten Transport, Ltd. | 48,050 | 985,986 | ||||||
|
| |||||||
1,756,191 | ||||||||
|
|
Name of Issuer |
Quantity | Fair Value ($) | ||||||
Utilities - 1.3% | ||||||||
Fortis, Inc. | 12,107 | 466,725 | ||||||
Spire, Inc. | 7,525 | 560,462 | ||||||
|
| |||||||
1,027,187 | ||||||||
|
| |||||||
Total Common Stocks | 76,787,967 | |||||||
|
| |||||||
Short-Term Securities - 2.6% | ||||||||
Fidelity Inst. Money Mkt. Gvt. Fund, 0.30% | 2,068,277 | 2,068,277 | ||||||
|
| |||||||
(cost: $2,068,277) | ||||||||
Total Investments in Securities - 100.1% | 78,856,244 | |||||||
Other Assets and Liabilities, net - (0.1%) |
| (66,028 | ) | |||||
|
| |||||||
Total Net Assets - 100.0% | $78,790,216 | |||||||
|
|
* | Non-income producing security. |
ADR—American Depositary Receipt
PLC—Public Limited Company
Numeric footnotes not disclosed are not applicable to this Schedule of Investments.
A summary of the levels for the Fund’s investments as of March 31, 2020 is as follows:
Investment in Securities | ||||||||||||
Level 1 Quoted Price ($) | Level 2 Other significant observable inputs ($) | Level 3 Significant unobservable inputs ($) | Total ($) | |||||||||
Common Stocks** | 76,787,967 | — | — | 76,787,967 | ||||||||
Short-Term Securities | 2,068,277 | — | — | 2,068,277 | ||||||||
Total: | 78,856,244 | — | — | 78,856,244 |
** 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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