SCHEDULE OF INVESTMENTS (Unaudited) March 31, 2020
Sit Global Dividend Growth Fund Investments are grouped by geographic region. |
Name of Issuer |
Quantity | Fair Value ($) | ||||||
Common Stocks - 97.5% | ||||||||
Asia - 6.2% | ||||||||
Australia - 2.5% | ||||||||
Atlassian Corp., PLC* | 3,925 | 538,746 | ||||||
Macquarie Group, Ltd. | 3,900 | 207,706 | ||||||
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| |||||||
746,452 | ||||||||
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| |||||||
Japan - 2.5% | ||||||||
Astellas Pharma, Inc. | 29,900 | 460,680 | ||||||
Recruit Holdings Co., Ltd. | 10,800 | 278,978 | ||||||
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| |||||||
739,658 | ||||||||
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| |||||||
Singapore - 1.2% | ||||||||
Singapore Technologies Engineering, Ltd. | 158,600 | 346,989 | ||||||
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| |||||||
Europe - 30.7% | ||||||||
France- 0.9% | ||||||||
Safran SA, ADR | 4,900 | 106,869 | ||||||
Sanofi, ADR | 3,800 | 166,136 | ||||||
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| |||||||
273,005 | ||||||||
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| |||||||
Germany - 4.3% | ||||||||
adidas AG | 1,385 | 307,508 | ||||||
Allianz SE* | 35,000 | 593,250 | ||||||
Aurelius SE & Co. | 5,500 | 100,108 | ||||||
Siemens AG | 3,200 | 267,953 | ||||||
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| |||||||
1,268,819 | ||||||||
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| |||||||
Ireland - 3.1% | ||||||||
Accenture, PLC | 3,675 | 599,980 | ||||||
Ingersoll-Rand, PLC* | 2,603 | 64,554 | ||||||
Trane Technologies, PLC | 2,950 | 243,640 | ||||||
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| |||||||
908,174 | ||||||||
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| |||||||
Netherlands - 0.5% | ||||||||
LyondellBasell Industries NV | 3,225 | 160,057 | ||||||
|
| |||||||
Spain - 2.9% | ||||||||
Iberdrola SA | 60,400 | 590,774 | ||||||
Industria de Diseno Textil SA | 9,800 | 253,954 | ||||||
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| |||||||
844,728 | ||||||||
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| |||||||
Switzerland - 8.5% | ||||||||
Chubb, Ltd. | 1,750 | 195,458 | ||||||
Logitech International SA | 12,950 | 555,944 | ||||||
Lonza Group AG | 1,450 | 596,420 | ||||||
Nestle SA | 7,525 | 770,318 | ||||||
Partners Group Holding AG | 585 | 400,530 | ||||||
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| |||||||
2,518,670 | ||||||||
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| |||||||
United Kingdom - 10.5% | ||||||||
AstraZeneca, PLC, ADR | 15,400 | 687,764 | ||||||
BAE Systems, PLC | 74,675 | 479,787 | ||||||
Diageo, PLC, ADR | 4,225 | 537,082 |
Name of Issuer |
Quantity | Fair Value ($) | ||||||
DS Smith, PLC | 94,275 | 319,537 | ||||||
London Stock Exchange Group, PLC | 6,875 | 615,007 | ||||||
RELX, PLC | 21,200 | 453,251 | ||||||
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| |||||||
3,092,428 | ||||||||
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| |||||||
North America - 60.6% | ||||||||
Bermuda - 0.2% | ||||||||
Everest Re Group, Ltd. | 350 | 67,347 | ||||||
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| |||||||
Canada - 1.5% | ||||||||
Suncor Energy, Inc. | 10,275 | 162,345 | ||||||
TC Energy Corp. | 6,300 | 279,090 | ||||||
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| |||||||
441,435 | ||||||||
|
| |||||||
United States - 58.9% | ||||||||
Abbott Laboratories | 8,300 | 654,953 | ||||||
Alphabet, Inc. - Class A* | 450 | 522,877 | ||||||
Apple, Inc. | 4,000 | 1,017,160 | ||||||
Applied Materials, Inc. | 8,175 | 374,578 | ||||||
Arthur J Gallagher & Co. | 3,775 | 307,700 | ||||||
Bank of America Corp. | 16,300 | 346,049 | ||||||
Broadcom, Inc. | 1,825 | 432,708 | ||||||
Chevron Corp. | 4,150 | 300,709 | ||||||
Constellation Brands, Inc. | 2,750 | 394,240 | ||||||
Euronet Worldwide, Inc.* | 2,800 | 240,016 | ||||||
FedEx Corp. | 475 | 57,598 | ||||||
Goldman Sachs Group, Inc. | 1,400 | 216,426 | ||||||
Home Depot, Inc. | 2,550 | 476,110 | ||||||
Honeywell International, Inc. | 3,200 | 428,128 | ||||||
Intel Corp. | 8,625 | 466,785 | ||||||
Johnson & Johnson | 6,925 | 908,075 | ||||||
JPMorgan Chase & Co. | 7,350 | 661,720 | ||||||
L3Harris Technologies, Inc. | 2,050 | 369,246 | ||||||
Lockheed Martin Corp. | 1,565 | 530,457 | ||||||
Marathon Petroleum Corp. | 7,950 | 187,779 | ||||||
McDonald’s Corp. | 1,860 | 307,551 | ||||||
Microsoft Corp. | 12,100 | 1,908,291 | ||||||
Mondelez International, Inc. | 7,100 | 355,568 | ||||||
PepsiCo, Inc. | 5,775 | 693,578 | ||||||
ScottsMiracle-Gro Co. | 3,375 | 345,600 | ||||||
Sherwin-Williams Co. | 800 | 367,616 | ||||||
Starbucks Corp. | 9,875 | 649,182 | ||||||
T Rowe Price Group, Inc. | 4,800 | 468,720 | ||||||
Thermo Fisher Scientific, Inc. | 1,175 | 333,230 | ||||||
Union Pacific Corp. | 4,050 | 571,212 | ||||||
United Technologies Corp. | 3,375 | 318,364 | ||||||
UnitedHealth Group, Inc. | 675 | 168,332 | ||||||
US Bancorp | 7,900 | 272,155 |
MARCH 31, 2020 | 1 |
SCHEDULE OF INVESTMENTS (Unaudited) March 31, 2020
Sit Global Dividend Growth Fund (Continued) |
Name of Issuer |
Quantity | Fair Value ($) | ||||||
Verizon Communications, Inc. | 12,750 | 685,058 | ||||||
Waste Management, Inc. | 5,900 | 546,104 | ||||||
WEC Energy Group, Inc. | 6,150 | 542,000 | ||||||
|
| |||||||
17,425,875 | ||||||||
|
| |||||||
Total Common Stocks | 28,833,637 | |||||||
|
| |||||||
Short-Term Securities - 2.7% | ||||||||
Fidelity Inst. Money Mkt. Gvt. Fund, 0.30% | 797,502 | 797,502 | ||||||
|
| |||||||
(cost: $797,502) | ||||||||
Total Investments in Securities - 100.2% | 29,631,139 | |||||||
Other Assets and Liabilities, net - (0.2%) | (50,430 | ) | ||||||
|
| |||||||
Total Net Assets - 100.0% | $29,580,709 | |||||||
|
|
* | Non-income producing security. |
ADR — American Depositary Receipt
PLC — Public Limited Company
Numeric footnotes not disclosed are not applicable to this Schedule of Investments.
Portfolio Structure - By Sector | (% of Total Net Assets) | |||
Finance | 15.1 | % | ||
Technology Services | 13.8 | |||
Health Technology | 12.9 | |||
Producer Manufacturing | 10.7 | |||
ConsumerNon-Durables | 10.3 | |||
Electronic Technology | 9.6 | |||
Consumer Services | 4.8 | |||
Process Industries | 4.0 | |||
Utilities | 3.8 | |||
Industrial Services | 2.8 | |||
Communications | 2.3 | |||
Energy Minerals | 2.2 | |||
Transportation | 2.1 | |||
Retail Trade | 1.6 | |||
Consumer Durables | 0.9 | |||
Health Services | 0.6 | |||
Short-Term Securities | 2.7 | |||
|
|
| ||
100.2 | ||||
Other Assets and Liabilities, net | (0.2 | ) | ||
|
|
| ||
100.0 | % | |||
|
|
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A summary of the levels for the Fund’s investments as of March 31, 2020 is as follows:
Investment in Securities | ||||||||||||||||
Level 1 Quoted Price ($) | Level 2 observable inputs ($) | Level 3 Significant unobservable inputs ($) | Total ($) | |||||||||||||
Common Stocks | ||||||||||||||||
Australia | 538,746 | 207,706 | — | 746,452 | ||||||||||||
Bermuda | 67,347 | — | — | 67,347 | ||||||||||||
Canada | 441,435 | — | — | 441,435 | ||||||||||||
France | 273,005 | — | — | 273,005 | ||||||||||||
Germany | 593,250 | 675,569 | — | 1,268,819 | ||||||||||||
Ireland | 908,174 | — | — | 908,174 | ||||||||||||
Japan | — | 739,658 | — | 739,658 | ||||||||||||
Netherlands | 160,057 | — | — | 160,057 | ||||||||||||
Singapore | — | 346,989 | — | 346,989 | ||||||||||||
Spain | — | 844,728 | — | 844,728 | ||||||||||||
Switzerland | 751,402 | 1,767,268 | — | 2,518,670 | ||||||||||||
United Kingdom | 1,224,846 | 1,867,582 | — | 3,092,428 | ||||||||||||
United States | 17,425,875 | — | — | 17,425,875 | ||||||||||||
Short-Term Securities | 797,502 | — | — | 797,502 | ||||||||||||
Total: | 23,181,639 | 6,449,500 | — | 29,631,139 |
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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