SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2020
Sit Dividend Growth Fund
Investments are grouped by economic sectors.
Name of Issuer | Quantity | Fair Value ($) | ||||||
Common Stocks - 99.5% | ||||||||
Commercial Services - 1.0% | ||||||||
S&P Global, Inc. | 4,275 | 1,541,565 | ||||||
Sysco Corp. | 9,900 | 615,978 | ||||||
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2,157,543 | ||||||||
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Communications - 3.8% | ||||||||
American Tower Corp. | 12,400 | 2,997,452 | ||||||
Verizon Communications, Inc. | 83,300 | 4,955,517 | ||||||
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| |||||||
7,952,969 | ||||||||
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Consumer Durables - 0.9% | ||||||||
Activision Blizzard, Inc. | 22,175 | 1,795,066 | ||||||
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Consumer Non-Durables - 8.8% | ||||||||
Coca-Cola Co. | 44,750 | 2,209,308 | ||||||
Conagra Brands, Inc. | 61,275 | 2,188,130 | ||||||
Mondelez International, Inc. | 44,725 | 2,569,451 | ||||||
NIKE, Inc. | 13,125 | 1,647,712 | ||||||
PepsiCo, Inc. | 27,450 | 3,804,570 | ||||||
Procter & Gamble Co. | 30,125 | 4,187,074 | ||||||
Tyson Foods, Inc. | 27,775 | 1,652,057 | ||||||
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18,258,302 | ||||||||
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Consumer Services - 3.2% | ||||||||
McDonald’s Corp. | 13,925 | 3,056,398 | ||||||
Visa, Inc. | 17,675 | 3,534,470 | ||||||
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6,590,868 | ||||||||
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Electronic Technology - 17.7% | ||||||||
Analog Devices, Inc. | 24,650 | 2,877,641 | ||||||
Apple, Inc. | 112,475 | 13,025,730 | ||||||
Applied Materials, Inc. | 51,375 | 3,054,244 | ||||||
Broadcom, Inc. | 13,050 | 4,754,376 | ||||||
Garmin, Ltd. | 22,750 | 2,158,065 | ||||||
Keysight Technologies, Inc. * | 16,925 | 1,671,852 | ||||||
Marvell Technology Group, Ltd. | 34,600 | 1,373,620 | ||||||
Qualcomm, Inc. | 24,225 | 2,850,798 | ||||||
Skyworks Solutions, Inc. | 19,725 | 2,869,988 | ||||||
TE Connectivity, Ltd. | 20,750 | 2,028,105 | ||||||
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36,664,419 | ||||||||
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Energy Minerals - 0.3% | ||||||||
ConocoPhillips | 22,825 | 749,573 | ||||||
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Finance - 14.6% | ||||||||
American Financial Group, Inc. | 24,225 | 1,622,591 | ||||||
Ameriprise Financial, Inc. | 17,425 | 2,685,367 | ||||||
Aon, PLC | 12,475 | 2,573,592 | ||||||
BlackRock, Inc. | 3,850 | 2,169,668 | ||||||
Chubb, Ltd. | 21,850 | 2,537,222 | ||||||
Everest Re Group, Ltd. | 11,825 | 2,335,910 | ||||||
Goldman Sachs Group, Inc. | 11,175 | 2,245,840 | ||||||
JPMorgan Chase & Co. | 25,325 | 2,438,038 | ||||||
MetLife, Inc. | 49,900 | 1,854,783 |
Name of Issuer | Quantity | Fair Value ($) | ||||||
Morgan Stanley | 62,475 | 3,020,666 | ||||||
New York Community Bancorp, Inc. | 100,075 | 827,620 | ||||||
Physicians Realty Trust | 80,900 | 1,448,919 | ||||||
Realty Income Corp. | 39,700 | 2,411,775 | ||||||
T Rowe Price Group, Inc. | 16,675 | 2,138,068 | ||||||
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30,310,059 | ||||||||
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Health Services - 2.4% | ||||||||
Quest Diagnostics, Inc. | 13,600 | 1,557,064 | ||||||
UnitedHealth Group, Inc. | 11,000 | 3,429,470 | ||||||
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4,986,534 | ||||||||
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Health Technology - 14.9% | ||||||||
Abbott Laboratories | 28,225 | 3,071,727 | ||||||
AbbVie, Inc. | 30,325 | 2,656,167 | ||||||
Agilent Technologies, Inc. | 13,225 | 1,334,932 | ||||||
Amgen, Inc. | 9,000 | 2,287,440 | ||||||
AstraZeneca, PLC, ADR | 42,475 | 2,327,630 | ||||||
Bristol-Myers Squibb Co. | 49,675 | 2,994,906 | ||||||
Johnson & Johnson | 38,175 | 5,683,494 | ||||||
Medtronic, PLC | 33,250 | 3,455,340 | ||||||
Merck & Co., Inc. | 35,400 | 2,936,430 | ||||||
Sanofi, ADR | 42,500 | 2,132,225 | ||||||
Zimmer Biomet Holdings, Inc. | 14,725 | 2,004,662 | ||||||
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30,884,953 | ||||||||
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Industrial Services - 0.7% | ||||||||
TC Energy Corp. | 34,025 | 1,429,730 | ||||||
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Process Industries - 1.5% | ||||||||
Air Products & Chemicals, Inc. | 10,275 | 3,060,512 | ||||||
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Producer Manufacturing - 5.7% | ||||||||
Deere & Co. | 7,350 | 1,628,981 | ||||||
Dover Corp. | 20,950 | 2,269,723 | ||||||
Eaton Corp., PLC | 19,925 | 2,032,948 | ||||||
Honeywell International, Inc. | 13,650 | 2,246,926 | ||||||
Lockheed Martin Corp. | 5,840 | 2,238,355 | ||||||
Parker-Hannifin Corp. | 7,450 | 1,507,433 | ||||||
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11,924,366 | ||||||||
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Retail Trade - 5.6% | ||||||||
CVS Health Corp. | 35,775 | 2,089,260 | ||||||
Home Depot, Inc. | 16,150 | 4,485,016 | ||||||
Target Corp. | 19,175 | 3,018,528 | ||||||
TJX Cos., Inc. | 36,050 | 2,006,182 | ||||||
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11,598,986 | ||||||||
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Technology Services - 10.5% | ||||||||
Accenture, PLC | 12,150 | 2,745,778 | ||||||
Alphabet, Inc. - Class A * | 1,445 | 2,117,792 | ||||||
Facebook, Inc. * | 9,100 | 2,383,290 |
SEPTEMBER 30, 2020 | 1 |
SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2020
Sit Dividend Growth Fund (Continued)
Name of Issuer | Quantity | Fair Value ($) | ||||||
Microsoft Corp. | 59,675 | 12,551,443 | ||||||
Oracle Corp. | 33,200 | 1,982,040 | ||||||
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21,780,343 | ||||||||
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Transportation - 3.0% | ||||||||
FedEx Corp. | 10,925 | 2,747,856 | ||||||
Union Pacific Corp. | 17,775 | 3,499,364 | ||||||
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6,247,220 | ||||||||
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Utilities - 4.9% | ||||||||
Ameren Corp. | 28,739 | 2,272,680 | ||||||
Dominion Resources, Inc. | 30,700 | 2,423,151 | ||||||
Entergy Corp. | 26,525 | 2,613,508 | ||||||
NextEra Energy, Inc. | 10,400 | 2,886,624 | ||||||
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10,195,963 | ||||||||
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Total Common Stocks | 206,587,406 | |||||||
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Name of Issuer | Quantity | Fair Value ($) | ||||||
Short-Term Securities - 0.3% | ||||||||
Fidelity Inst. Money Mkt. Gvt. Fund, 0.01% | 586,860 | 586,860 | ||||||
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| |||||||
Total Investments in Securities - 99.8% | 207,174,266 | |||||||
Other Assets and Liabilities, net - 0.2% | 354,759 | |||||||
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Total Net Assets - 100.0% | $207,529,025 | |||||||
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* Non-income producing security.
ADR — American Depositary Receipt
PLC — Public Limited Company |
Numeric footnotes not disclosed are not applicable to this Schedule of Investments.
A summary of the levels for the Fund’s investments as of September 30, 2020 is as follows:
Investment in Securities | ||||||||||||
Level 1 Quoted Price ($) | Level 2 Other significant observable inputs ($) | Level 3 Significant | Total ($) | |||||||||
Common Stocks ** | 206,587,406 | — | — | 206,587,406 | ||||||||
Short-Term Securities | 586,860 | — | — | 586,860 | ||||||||
Total: | 207,174,266 | — | — | 207,174,266 |
** | 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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