SCHEDULE OF INVESTMENTS (Unaudited) March 31, 2021
Sit Small Cap Dividend Growth Fund Investments are grouped by economic sectors. |
Name of Issuer |
Quantity | Fair Value ($) | ||||||
Common Stocks - 97.7% | ||||||||
Commercial Services - 4.9% | ||||||||
Booz Allen Hamilton Holding Corp. | 3,200 | 257,696 | ||||||
Brink’s Co. | 2,750 | 217,882 | ||||||
Colliers International Group, Inc. | 2,350 | 230,864 | ||||||
FTI Consulting, Inc. * | 1,425 | 199,657 | ||||||
World Fuel Services Corp. | 4,700 | 165,440 | ||||||
|
| |||||||
1,071,539 | ||||||||
|
| |||||||
Communications - 0.9% | ||||||||
Shenandoah Telecommunications Co. | 3,800 | 185,478 | ||||||
|
| |||||||
Consumer Durables - 6.4% | ||||||||
Acushnet Holdings Corp. | 2,600 | 107,458 | ||||||
BRP, Inc. | 3,050 | 265,106 | ||||||
Helen of Troy, Ltd. * | 900 | 189,594 | ||||||
MDC Holdings, Inc. | 4,050 | 240,570 | ||||||
National Presto Industries, Inc. | 750 | 76,552 | ||||||
Thor Industries, Inc. | 2,300 | 309,902 | ||||||
YETI Holdings, Inc. * | 2,700 | 194,967 | ||||||
|
| |||||||
1,384,149 | ||||||||
|
| |||||||
Consumer Non-Durables - 1.1% | ||||||||
Sensient Technologies Corp. | 3,000 | 234,000 | ||||||
|
| |||||||
Consumer Services - 4.5% | ||||||||
Chegg, Inc. * | 3,000 | 256,980 | ||||||
Nexstar Media Group, Inc. | 2,550 | 358,096 | ||||||
Service Corp. International | 2,000 | 102,100 | ||||||
Vail Resorts, Inc. | 915 | 266,869 | ||||||
|
| |||||||
984,045 | ||||||||
|
| |||||||
Electronic Technology - 9.4% | ||||||||
CMC Materials, Inc. | 1,850 | 327,062 | ||||||
II-VI, Inc. * | 2,450 | 167,506 | ||||||
MKS Instruments, Inc. | 3,275 | 607,250 | ||||||
Monolithic Power Systems, Inc. | 1,850 | 653,438 | ||||||
Power Integrations, Inc. | 3,400 | 277,032 | ||||||
|
| |||||||
2,032,288 | ||||||||
|
| |||||||
Finance - 27.1% | ||||||||
American Financial Group, Inc. | 2,775 | 316,628 | ||||||
Artisan Partners Asset Management, Inc. | 6,300 | 328,671 | ||||||
Axis Capital Holdings, Ltd. | 6,300 | 312,291 | ||||||
Carlyle Group, Inc. | 8,075 | 296,837 | ||||||
CNO Financial Group, Inc. | 14,000 | 340,060 | ||||||
CubeSmart | 5,250 | 198,608 | ||||||
Donegal Group, Inc. | 9,500 | 141,170 | ||||||
Essential Properties Realty Trust, Inc. | 7,700 | 175,791 | ||||||
Evercore Partners, Inc. | 2,800 | 368,872 | ||||||
Hannon Armstrong Sustainable Infrastructure Cap., Inc. | 2,525 | 141,652 | ||||||
Hanover Insurance Group, Inc. | 1,275 | 165,062 | ||||||
HCI Group, Inc. | 3,600 | 276,552 | ||||||
Hercules Capital, Inc. | 13,100 | 209,993 |
Name of Issuer |
Quantity | Fair Value ($) | ||||||
Old National Bancorp | 15,575 | 301,220 | ||||||
People’s United Financial, Inc. | 18,425 | 329,808 | ||||||
Physicians Realty Trust | 11,250 | 198,788 | ||||||
Piper Sandler Cos | 2,875 | 315,244 | ||||||
PROG Holdings, Inc. | 5,500 | 238,095 | ||||||
QTS Realty Trust, Inc. | 4,350 | 269,874 | ||||||
SiriusPoint, Ltd. * | 10,150 | 103,226 | ||||||
Stifel Financial Corp. | 6,000 | 384,360 | ||||||
STORE Capital Corp. | 6,225 | 208,538 | ||||||
Western Alliance Bancorp | 2,775 | 262,071 | ||||||
|
| |||||||
5,883,411 | ||||||||
|
| |||||||
Health Services - 3.1% | ||||||||
Encompass Health Corp. | 4,200 | 343,980 | ||||||
Tenet Healthcare Corp. * | 6,400 | 332,800 | ||||||
|
| |||||||
676,780 | ||||||||
|
| |||||||
Health Technology - 6.1% | ||||||||
AtriCure, Inc. * | 5,200 | 340,704 | ||||||
Atrion Corp. | 160 | 102,610 | ||||||
Bio-Techne Corp. | 325 | 124,127 | ||||||
ICU Medical, Inc. * | 975 | 200,304 | ||||||
iRhythm Technologies, Inc. * | 1,725 | 239,534 | ||||||
LeMaitre Vascular, Inc. | 2,175 | 106,096 | ||||||
STERIS, PLC | 1,100 | 209,528 | ||||||
|
| |||||||
1,322,903 | ||||||||
|
| |||||||
Industrial Services - 3.1% | ||||||||
EMCOR Group, Inc. | 2,400 | 269,184 | ||||||
KBR, Inc. | 10,775 | 413,652 | ||||||
|
| |||||||
682,836 | ||||||||
|
| |||||||
Non-Energy Minerals - 2.9% | ||||||||
AZEK Co., Inc. * | 5,700 | 239,685 | ||||||
Commercial Metals Co. | 3,950 | 121,818 | ||||||
Eagle Materials, Inc. | 825 | 110,888 | ||||||
PotlatchDeltic Corp. | 2,810 | 148,705 | ||||||
|
| |||||||
621,096 | ||||||||
|
| |||||||
Process Industries - 5.8% | ||||||||
Huntsman Corp. | 4,650 | 134,060 | ||||||
Neenah, Inc. | 2,525 | 129,734 | ||||||
Olin Corp. | 7,625 | 289,521 | ||||||
Scotts Miracle-Gro Co. | 1,850 | 453,194 | ||||||
Silgan Holdings, Inc. | 5,800 | 243,774 | ||||||
|
| |||||||
1,250,283 | ||||||||
|
| |||||||
Producer Manufacturing - 12.9% | ||||||||
AGCO Corp. | 925 | 132,876 | ||||||
Applied Industrial Technologies, Inc. | 2,475 | 225,646 | ||||||
Array Technologies, Inc. * | 2,975 | 88,715 | ||||||
AZZ, Inc. | 2,525 | 127,134 | ||||||
Carlisle Cos., Inc. | 1,650 | 271,557 |
MARCH 31, 2021 | 1 |
SCHEDULE OF INVESTMENTS (Unaudited) March 31, 2021
Sit Small Cap Dividend Growth Fund (Continued) |
Name of Issuer |
Quantity | Fair Value ($) | ||||||
Crane Co. | 2,675 | 251,209 | ||||||
H&E Equipment Services, Inc. | 8,700 | 330,600 | ||||||
Hubbell, Inc. | 1,525 | 285,007 | ||||||
Hydrofarm Holdings Group, Inc. * | 800 | 48,256 | ||||||
Lincoln Electric Holdings, Inc. | 1,350 | 165,969 | ||||||
MSA Safety, Inc. | 1,700 | 255,034 | ||||||
Oshkosh Corp. | 1,175 | 139,426 | ||||||
Rexnord Corp. | 5,250 | 247,222 | ||||||
TPI Composites, Inc. * | 925 | 52,198 | ||||||
Watsco, Inc. | 685 | 178,614 | ||||||
|
| |||||||
2,799,463 | ||||||||
|
| |||||||
Retail Trade - 1.0% | ||||||||
Casey’s General Stores, Inc. | 1,025 | 221,595 | ||||||
|
| |||||||
Technology Services - 3.5% | ||||||||
Globant SA * | 1,625 | 337,366 | ||||||
ManTech International Corp. | 1,800 | 156,510 | ||||||
Science Applications International Corp. | 3,075 | 257,039 | ||||||
|
| |||||||
750,915 | ||||||||
|
| |||||||
Transportation - 3.1% | ||||||||
Knight-Swift Transportation Holdings, Inc. | 5,275 | 253,675 | ||||||
Marten Transport, Ltd. | 8,450 | 143,396 | ||||||
TFI International, Inc. | 3,675 | 274,743 | ||||||
|
| |||||||
671,814 | ||||||||
|
|
Name of Issuer |
Quantity | Fair Value ($) | ||||||
Utilities - 1.9% | ||||||||
Black Hills Corp. | 4,000 | 267,080 | ||||||
Spire, Inc. | 1,950 | 144,086 | ||||||
|
| |||||||
411,166 | ||||||||
|
| |||||||
Total Common Stocks | 21,183,761 | |||||||
|
| |||||||
Short-Term Securities - 2.3% | ||||||||
Fidelity Inst. Money Mkt. Gvt. Fund, 0.01% | 500,164 | 500,164 | ||||||
|
| |||||||
(cost: $500,164) | ||||||||
Total Investments in Securities - 100.0% | 21,683,925 | |||||||
Other Assets and Liabilities, net - 0.0% | 3,178 | |||||||
|
| |||||||
Total Net Assets - 100.0% | $21,687,103 | |||||||
|
|
* | Non-income producing security. |
PLC — Public Limited Company
Numeric footnotes not disclosed are not applicable to this Schedule of Investments.
A summary of the levels for the Fund’s investments as of March 31, 2021 is as follows:
Investment in Securities | ||||||||||||
Level 1 Quoted Price ($) | Level 2 Other significant observable inputs ($) | Level 3 Significant unobservable inputs ($) | Total ($) | |||||||||
Common Stocks ** | 21,183,761 | — | — | 21,183,761 | ||||||||
Short-Term Securities | 500,164 | — | — | 500,164 | ||||||||
Total: | 21,683,925 | — | — | 21,683,925 |
** | 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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