SCHEDULE OF INVESTMENTS (Unaudited) September 30, 2020
Sit Small Cap Growth Fund Investments are grouped by economic sectors. |
Name of Issuer | Quantity | Fair Value ($) | ||||||
Common Stocks - 98.2% | ||||||||
Commercial Services - 4.7% | ||||||||
ASGN, Inc. * | 25,100 | 1,595,356 | ||||||
Booz Allen Hamilton Holding Corp. | 20,000 | 1,659,600 | ||||||
Colliers International Group, Inc. | 12,700 | 846,963 | ||||||
FTI Consulting, Inc. * | 8,950 | 948,432 | ||||||
|
| |||||||
5,050,351 | ||||||||
|
| |||||||
Communications - 0.9% | ||||||||
Shenandoah Telecommunications Co. | 22,700 | 1,008,674 | ||||||
|
| |||||||
Consumer Durables - 7.0% | ||||||||
Acushnet Holdings Corp. | 30,800 | 1,035,188 | ||||||
BRP, Inc. | 19,150 | 1,011,503 | ||||||
Helen of Troy, Ltd. * | 4,950 | 957,924 | ||||||
Take-Two Interactive Software, Inc. * | 6,350 | 1,049,147 | ||||||
Thor Industries, Inc. | 11,200 | 1,066,912 | ||||||
YETI Holdings, Inc. * | 53,700 | 2,433,684 | ||||||
|
| |||||||
7,554,358 | ||||||||
|
| |||||||
Consumer Services - 7.4% | ||||||||
Chegg, Inc. * | 37,500 | 2,679,000 | ||||||
Dunkin’ Brands Group, Inc. | 12,800 | 1,048,448 | ||||||
Nexstar Media Group, Inc. | 15,225 | 1,369,184 | ||||||
Service Corp. International | 18,700 | 788,766 | ||||||
Strategic Education, Inc. | 9,100 | 832,377 | ||||||
Vail Resorts, Inc. | 5,600 | 1,198,232 | ||||||
|
| |||||||
7,916,007 | ||||||||
|
| |||||||
Electronic Technology - 9.7% | ||||||||
Arista Networks, Inc. * | 7,800 | 1,614,054 | ||||||
Cabot Microelectronics Corp. | 8,825 | 1,260,298 | ||||||
Ciena Corp. * | 26,250 | 1,041,863 | ||||||
MKS Instruments, Inc. | 15,750 | 1,720,372 | ||||||
Monolithic Power Systems, Inc. | 10,200 | 2,852,022 | ||||||
Skyworks Solutions, Inc. | 13,200 | 1,920,600 | ||||||
|
| |||||||
10,409,209 | ||||||||
|
| |||||||
Finance - 6.8% | ||||||||
Aaron’s, Inc. | 23,400 | 1,325,610 | ||||||
Artisan Partners Asset Management, Inc. | 31,825 | 1,240,857 | ||||||
Axis Capital Holdings, Ltd. | 11,775 | 518,571 | ||||||
Essential Properties Realty Trust, Inc. | 9,700 | 177,704 | ||||||
First Republic Bank | 6,400 | 697,984 | ||||||
Physicians Realty Trust | 61,600 | 1,103,256 | ||||||
QTS Realty Trust, Inc. | 13,300 | 838,166 | ||||||
Selective Insurance Group, Inc. | 10,375 | 534,209 | ||||||
SVB Financial Group * | 3,775 | 908,340 | ||||||
|
| |||||||
7,344,697 | ||||||||
|
|
Name of Issuer | Quantity | Fair Value ($) | ||||||
Health Services - 4.8% | ||||||||
Encompass Health Corp. | 19,675 | 1,278,482 | ||||||
Teladoc Health, Inc. * | 13,125 | 2,877,525 | ||||||
Tenet Healthcare Corp. * | 40,100 | 982,851 | ||||||
|
| |||||||
5,138,858 | ||||||||
|
| |||||||
Health Technology - 17.1% | ||||||||
Align Technology, Inc. * | 3,600 | 1,178,496 | ||||||
AtriCure, Inc. * | 25,825 | 1,030,418 | ||||||
Bio-Techne Corp. | 4,800 | 1,189,104 | ||||||
Exact Sciences Corp. * | 15,700 | 1,600,615 | ||||||
Insulet Corp. * | 4,950 | 1,171,121 | ||||||
iRhythm Technologies, Inc. * | 11,675 | 2,779,934 | ||||||
LeMaitre Vascular, Inc. | 26,775 | 870,991 | ||||||
Mesoblast, Ltd. ADR * | 63,900 | 1,185,984 | ||||||
Pacific Biosciences of California, Inc. * | 150,400 | 1,484,448 | ||||||
PerkinElmer, Inc. | 8,400 | 1,054,284 | ||||||
Sarepta Therapeutics, Inc. * | 13,400 | 1,881,762 | ||||||
STAAR Surgical Co. * | 24,525 | 1,387,134 | ||||||
STERIS, PLC | 9,100 | 1,603,329 | ||||||
|
| |||||||
18,417,620 | ||||||||
|
| |||||||
Industrial Services - 4.1% | ||||||||
EMCOR Group, Inc. | 15,800 | 1,069,818 | ||||||
KBR, Inc. | 43,500 | 972,660 | ||||||
Waste Connections, Inc. | 23,100 | 2,397,780 | ||||||
|
| |||||||
4,440,258 | ||||||||
|
| |||||||
Non-Energy Minerals - 3.0% | ||||||||
AZEK Co., Inc. * | 24,200 | 842,402 | ||||||
Trex Co., Inc. * | 33,075 | 2,368,170 | ||||||
|
| |||||||
3,210,572 | ||||||||
|
| |||||||
Process Industries - 1.8% | ||||||||
Scotts Miracle-Gro Co. | 12,600 | 1,926,666 | ||||||
|
| |||||||
Producer Manufacturing - 8.2% | ||||||||
Applied Industrial Technologies, Inc. | 7,000 | 385,700 | ||||||
Carlisle Cos, Inc. | 2,200 | 269,214 | ||||||
Crane Co. | 15,400 | 772,002 | ||||||
H&E Equipment Services, Inc. | 23,200 | 456,112 | ||||||
Hubbell, Inc. | 8,000 | 1,094,720 | ||||||
IDEX Corp. | 6,100 | 1,112,701 | ||||||
Lincoln Electric Holdings, Inc. | 8,900 | 819,156 | ||||||
MSA Safety, Inc. | 11,400 | 1,529,538 | ||||||
Oshkosh Corp. | 13,800 | 1,014,300 | ||||||
Rexnord Corp. | 23,600 | 704,224 | ||||||
Watsco, Inc. | 2,925 | 681,203 | ||||||
|
| |||||||
8,838,870 | ||||||||
|
|
SEPTEMBER 30, 2020 | 1 |
SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2020
Sit Small Cap Growth Fund (Continued)
Name of Issuer | Quantity | Fair Value ($) | ||||||
Retail Trade - 2.4% | ||||||||
Casey’s General Stores, Inc. | 4,300 | 763,895 | ||||||
PetMed Express, Inc. | 34,250 | 1,082,985 | ||||||
Ulta Beauty, Inc. * | 3,050 | 683,139 | ||||||
|
| |||||||
2,530,019 | ||||||||
|
| |||||||
Technology Services - 16.1% | ||||||||
Altair Engineering, Inc. * | 29,983 | 1,258,686 | ||||||
ANSYS, Inc. * | 3,725 | 1,218,932 | ||||||
Aspen Technology, Inc. * | 12,575 | 1,591,869 | ||||||
Euronet Worldwide, Inc. * | 16,600 | 1,512,260 | ||||||
Globant SA * | 10,800 | 1,935,576 | ||||||
GoDaddy, Inc. * | 15,025 | 1,141,449 | ||||||
HubSpot, Inc. * | 7,025 | 2,052,916 | ||||||
Paycom Software, Inc. * | 7,450 | 2,319,185 | ||||||
PTC, Inc. * | 17,600 | 1,455,872 | ||||||
Qualys, Inc. * | 10,050 | 985,000 | ||||||
Science Applications International Corp. | 14,800 | 1,160,616 | ||||||
Talend SA, ADR * | 19,100 | 745,664 | ||||||
|
| |||||||
17,378,025 | ||||||||
|
| |||||||
Transportation - 3.4% | ||||||||
Alaska Air Group, Inc. | 11,500 | 421,245 | ||||||
Knight-Swift Transportation Holdings, Inc. | 24,375 | 992,063 | ||||||
Marten Transport, Ltd. | 72,075 | 1,176,264 | ||||||
TFI International, Inc. | 25,075 | 1,048,887 | ||||||
|
| |||||||
3,638,459 | ||||||||
|
|
Name of Issuer | Quantity | Fair Value ($) | ||||||
Utilities - 0.8% | ||||||||
Fortis, Inc. | 12,107 | 494,692 | ||||||
Spire, Inc. | 7,525 | 400,330 | ||||||
|
| |||||||
895,022 | ||||||||
|
| |||||||
Total Common Stocks | 105,697,665 | |||||||
|
| |||||||
Short-Term Securities - 2.0% | ||||||||
Fidelity Inst. Money Mkt. Gvt. Fund, 0.01% | 2,148,303 | 2,148,303 | ||||||
|
| |||||||
(cost: $2,148,303) | ||||||||
Total Investments in Securities - 100.2% |
| 107,845,968 | ||||||
Other Assets and Liabilities, net - (0.2%) |
| (250,571 | ) | |||||
|
| |||||||
Total Net Assets - 100.0% |
| $107,595,397 | ||||||
|
|
* | Non-income producing security. |
ADR — American Depositary Receipt |
PLC — Public Limited Company |
Numeric footnotes not disclosed are not applicable to this Schedule of Investments.
A summary of the levels for the Fund’s investments as of September 30, 2020 is as follows:
Investment in Securities | ||||||||||||
Level 1 Quoted Price ($) | Level 2 Other significant observable inputs ($) | Level 3 Significant | Total ($) | |||||||||
Common Stocks ** | 105,697,665 | — | — | 105,697,665 | ||||||||
Short-Term Securities | 2,148,303 | — | — | 2,148,303 | ||||||||
Total: | 107,845,968 | — | — | 107,845,968 |
** | 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. |
2 |