SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2020
Sit Global Dividend Growth Fund
Investments are grouped by geographic region.
Name of Issuer | Quantity | Fair Value ($) | ||||||
Common Stocks - 98.8% | ||||||||
Asia - 6.4% | ||||||||
Australia - 2.9% | ||||||||
Atlassian Corp., PLC * | 3,925 | 713,526 | ||||||
Macquarie Group, Ltd. | 3,900 | 338,069 | ||||||
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1,051,595 | ||||||||
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Japan - 2.4% | ||||||||
Astellas Pharma, Inc. | 29,900 | 445,707 | ||||||
Recruit Holdings Co., Ltd. | 10,800 | 428,926 | ||||||
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874,633 | ||||||||
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Singapore - 1.1% | ||||||||
Singapore Technologies Engineering, Ltd. | 158,600 | 404,164 | ||||||
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Europe - 31.0% | ||||||||
France - 0.9% | ||||||||
Safran SA, ADR * | 4,900 | 121,373 | ||||||
Sanofi, ADR | 3,800 | 190,646 | ||||||
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312,019 | ||||||||
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Germany - 5.0% | ||||||||
adidas AG * | 1,385 | 447,278 | ||||||
Allianz SE, ADR | 35,000 | 670,250 | ||||||
Aurelius SE & Co. * | 5,500 | 89,231 | ||||||
Muenchener Rueckversicherungs AG | 650 | 165,242 | ||||||
Siemens AG | 3,200 | 404,127 | ||||||
Siemens Energy AG * | 1,600 | 43,146 | ||||||
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1,819,274 | ||||||||
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Ireland - 4.6% | ||||||||
Accenture, PLC | 3,675 | 830,513 | ||||||
Medtronic, PLC | 4,575 | 475,434 | ||||||
Trane Technologies, PLC | 2,950 | 357,688 | ||||||
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1,663,635 | ||||||||
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Spain - 2.0% | ||||||||
Iberdrola SA | 60,400 | 743,443 | ||||||
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Switzerland - 9.8% | ||||||||
Chubb, Ltd. | 1,750 | 203,210 | ||||||
Logitech International SA | 12,950 | 1,001,164 | ||||||
Lonza Group AG | 1,450 | 894,847 | ||||||
Nestle SA | 7,525 | 895,566 | ||||||
Partners Group Holding AG | 585 | 538,085 | ||||||
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3,532,872 | ||||||||
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United Kingdom - 8.7% | ||||||||
AstraZeneca, PLC, ADR | 15,400 | 843,920 | ||||||
BAE Systems, PLC | 74,675 | 463,772 | ||||||
Diageo, PLC, ADR | 4,225 | 581,614 | ||||||
London Stock Exchange Group, PLC | 6,875 | 788,682 | ||||||
RELX, PLC | 21,200 | 471,962 | ||||||
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3,149,950 | ||||||||
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North America - 61.4% |
Name of Issuer | Quantity | Fair Value ($) | ||||||
Bermuda - 0.2% | ||||||||
Everest Re Group, Ltd. | 350 | 69,139 | ||||||
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United States - 61.2% | ||||||||
Abbott Laboratories | 8,300 | 903,289 | ||||||
AbbVie, Inc. | 3,975 | 348,170 | ||||||
Alphabet, Inc. - Class A * | 450 | 659,520 | ||||||
American Tower Corp. | 600 | 145,038 | ||||||
Apple, Inc. | 19,200 | 2,223,552 | ||||||
Applied Materials, Inc. | 8,175 | 486,004 | ||||||
Arthur J Gallagher & Co. | 3,775 | 398,565 | ||||||
Bank of America Corp. | 16,300 | 392,667 | ||||||
Broadcom, Inc. | 1,825 | 664,884 | ||||||
Constellation Brands, Inc. | 2,750 | 521,153 | ||||||
CVS Health Corp. | 7,600 | 443,840 | ||||||
Euronet Worldwide, Inc. * | 2,800 | 255,080 | ||||||
FedEx Corp. | 475 | 119,472 | ||||||
Goldman Sachs Group, Inc. | 1,400 | 281,358 | ||||||
Home Depot, Inc. | 2,550 | 708,160 | ||||||
Honeywell International, Inc. | 3,200 | 526,752 | ||||||
Johnson & Johnson | 6,925 | 1,030,994 | ||||||
JPMorgan Chase & Co. | 7,350 | 707,584 | ||||||
L3Harris Technologies, Inc. | 2,050 | 348,172 | ||||||
Lockheed Martin Corp. | 1,565 | 599,833 | ||||||
McDonald’s Corp. | 1,860 | 408,251 | ||||||
Microsoft Corp. | 12,100 | 2,544,993 | ||||||
Mondelez International, Inc. | 7,100 | 407,895 | ||||||
Otis Worldwide Corp. | 3,875 | 241,878 | ||||||
PepsiCo, Inc. | 5,775 | 800,415 | ||||||
Scotts Miracle-Gro Co. | 2,675 | 409,034 | ||||||
Sherwin-Williams Co. | 800 | 557,392 | ||||||
Starbucks Corp. | 9,875 | 848,460 | ||||||
T Rowe Price Group, Inc. | 4,800 | 615,456 | ||||||
Thermo Fisher Scientific, Inc. | 1,175 | 518,786 | ||||||
Union Pacific Corp. | 4,050 | 797,324 | ||||||
UnitedHealth Group, Inc. | 675 | 210,445 | ||||||
Verizon Communications, Inc. | 12,750 | 758,498 | ||||||
Waste Management, Inc. | 5,900 | 667,703 | ||||||
WEC Energy Group, Inc. | 6,150 | 595,935 | ||||||
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22,146,552 | ||||||||
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Total Common Stocks | 35,767,276 | |||||||
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SEPTEMBER 30, 2020 | 1 |
SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2020
Sit Global Dividend Growth Fund (Continued)
Name of Issuer | Quantity | Fair Value ($) | ||||||
Short-Term Securities - 1.1% | ||||||||
Fidelity Inst. Money Mkt. Gvt. Fund, 0.01% | 414,941 | 414,941 | ||||||
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(cost: $414,941) | ||||||||
Total Investments in Securities - 99.9% | ||||||||
(cost: $24,192,325) | 36,182,217 | |||||||
Other Assets and Liabilities, net - 0.1% | 34,693 | |||||||
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Total Net Assets - 100.0% | $36,216,910 | |||||||
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* | Non-income producing security. |
ADR — American Depositary Receipt
PLC — Public Limited Company
Numeric footnotes not disclosed are not applicable to this Schedule of Investments.
Portfolio Structure - By Sector | (% of Total Net Assets) | |||||||
Health Technology | 15.6 | % | ||||||
Technology Services | 15.0 | |||||||
Finance | 14.5 | |||||||
Electronic Technology | 12.1 | |||||||
Consumer Non-Durables | 10.1 | |||||||
Producer Manufacturing | 9.7 | |||||||
Consumer Services | 4.8 | |||||||
Utilities | 3.7 | |||||||
Retail Trade | 3.2 | |||||||
Process Industries | 2.7 | |||||||
Transportation | 2.5 | |||||||
Communications | 2.5 | |||||||
Industrial Services | 1.8 | |||||||
Health Services | 0.6 | |||||||
Short-Term Securities | 1.1 | |||||||
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99.9 | ||||||||
Other Assets and Liabilities, net | 0.1 | |||||||
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100.0 | % | |||||||
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A summary of the levels for the Fund’s investments as of September 30, 2020 is as follows:
Investment in Securities | ||||||||||||||||||||
Level 1 | Level 2 | Level 3 | ||||||||||||||||||
Quoted | Other significant | Significant | ||||||||||||||||||
Price ($) | observable inputs ($) | unobservable inputs ($) | Total ($) | |||||||||||||||||
Common Stocks | ||||||||||||||||||||
Australia | 713,526 | 338,069 | — | 1,051,595 | ||||||||||||||||
Bermuda | 69,139 | — | — | 69,139 | ||||||||||||||||
France | 312,019 | — | — | 312,019 | ||||||||||||||||
Germany | 713,396 | 1,105,878 | — | 1,819,274 | ||||||||||||||||
Ireland | 1,663,635 | — | — | 1,663,635 | ||||||||||||||||
Japan | — | 874,633 | — | 874,633 | ||||||||||||||||
Singapore | — | 404,164 | — | 404,164 | ||||||||||||||||
Spain | — | 743,443 | — | 743,443 | ||||||||||||||||
Switzerland | 1,204,374 | 2,328,498 | — | 3,532,872 | ||||||||||||||||
United Kingdom | 1,425,534 | 1,724,416 | — | 3,149,950 | ||||||||||||||||
United States | 22,146,552 | — | — | 22,146,552 | ||||||||||||||||
Short-Term Securities | 414,941 | — | — | 414,941 | ||||||||||||||||
Total: | 28,663,116 | 7,519,101 | — | 36,182,217 |
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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