SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2021
Sit Global Dividend Growth Fund
Investments are grouped by geographic region
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Name of Issuer | Quantity | Fair Value ($) | ||||||
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Common Stocks - 97.7% | ||||||||
Asia - 8.4% | ||||||||
Australia - 4.9% | ||||||||
Atlassian Corp., PLC * | 3,525 | 1,379,755 | ||||||
BHP Group, Ltd. ADR | 6,150 | 329,148 | ||||||
Macquarie Group, Ltd. | 3,900 | 503,866 | ||||||
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2,212,769 | ||||||||
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Japan - 2.5% | ||||||||
Astellas Pharma, Inc. | 29,900 | 492,126 | ||||||
Recruit Holdings Co., Ltd. | 10,800 | 660,159 | ||||||
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1,152,285 | ||||||||
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Singapore - 1.0% | ||||||||
Singapore Technologies Engineering, Ltd. | 158,600 | 442,723 | ||||||
Europe - 30.0% | ||||||||
France - 1.5% | ||||||||
Faurecia SE | 9,175 | 431,662 | ||||||
Safran SA, ADR | 7,700 | 244,013 | ||||||
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675,675 | ||||||||
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Germany - 4.7% | ||||||||
adidas AG | 1,385 | 435,245 | ||||||
Allianz SE, ADR | 35,000 | 786,100 | ||||||
Muenchener Rueckversicherungs AG | 650 | 177,365 | ||||||
Siemens AG | 4,350 | 711,447 | ||||||
Siemens Energy AG * | 1,600 | 42,799 | ||||||
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2,152,956 | ||||||||
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Ireland - 5.1% | ||||||||
Accenture, PLC | 3,675 | 1,175,706 | ||||||
Linde, PLC | 700 | 205,366 | ||||||
Medtronic, PLC | 4,575 | 573,476 | ||||||
Trane Technologies, PLC | 2,175 | 375,514 | ||||||
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2,330,062 | ||||||||
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Spain - 1.3% | ||||||||
Iberdrola SA | 60,400 | 607,650 | ||||||
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Sweden - 0.6% | ||||||||
Telefonaktiebolaget LM Ericsson, ADR | 26,975 | 302,120 | ||||||
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Switzerland - 8.2% | ||||||||
Chubb, Ltd. | 1,750 | 303,590 | ||||||
Logitech International SA | 9,625 | 848,444 | ||||||
Lonza Group AG | 950 | 712,604 | ||||||
Nestle SA | 6,075 | 731,977 | ||||||
Partners Group Holding AG | 725 | 1,131,464 | ||||||
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3,728,079 | ||||||||
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United Kingdom - 8.6% | ||||||||
AstraZeneca, PLC, ADR | 15,400 | 924,924 | ||||||
BAE Systems, PLC | 74,675 | 565,593 | ||||||
Diageo, PLC, ADR | 4,225 | 815,425 | ||||||
HomeServe, PLC | 33,725 | 411,014 | ||||||
London Stock Exchange Group, PLC | 6,875 | 688,932 | ||||||
RELX, PLC | 17,550 | 508,030 | ||||||
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3,913,918 | ||||||||
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Name of Issuer | Quantity | Fair Value ($) | ||||||
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North America - 59.3% | ||||||||
United States - 59.3% | ||||||||
Abbott Laboratories | 7,400 | 874,162 | ||||||
AbbVie, Inc. | 3,975 | 428,783 | ||||||
Alphabet, Inc. - Class A * | 450 | 1,203,084 | ||||||
Apple, Inc. | 19,200 | 2,716,800 | ||||||
Applied Materials, Inc. | 8,175 | 1,052,368 | ||||||
Arthur J Gallagher & Co. | 3,775 | 561,154 | ||||||
Bank of America Corp. | 16,300 | 691,935 | ||||||
Broadcom, Inc. | 1,825 | 884,997 | ||||||
Constellation Brands, Inc. | 2,750 | 579,398 | ||||||
CVS Health Corp. | 6,625 | 562,198 | ||||||
Euronet Worldwide, Inc. * | 2,800 | 356,384 | ||||||
FedEx Corp. | 1,950 | 427,616 | ||||||
Goldman Sachs Group, Inc. | 1,400 | 529,242 | ||||||
Home Depot, Inc. | 2,550 | 837,063 | ||||||
Honeywell International, Inc. | 3,200 | 679,296 | ||||||
Johnson & Johnson | 6,925 | 1,118,387 | ||||||
JPMorgan Chase & Co. | 7,350 | 1,203,121 | ||||||
Lockheed Martin Corp. | 1,565 | 540,081 | ||||||
McDonald’s Corp. | 1,860 | 448,465 | ||||||
Microsoft Corp. | 10,725 | 3,023,592 | ||||||
Mondelez International, Inc. | 7,100 | 413,078 | ||||||
Otis Worldwide Corp. | 3,875 | 318,835 | ||||||
PepsiCo, Inc. | 5,775 | 868,618 | ||||||
salesforce.com, Inc. * | 725 | 196,635 | ||||||
Scotts Miracle-Gro Co. | 2,675 | 391,513 | ||||||
Sherwin-Williams Co. | 2,400 | 671,352 | ||||||
Starbucks Corp. | 6,000 | 661,860 | ||||||
T Rowe Price Group, Inc. | 4,250 | 835,975 | ||||||
Thermo Fisher Scientific, Inc. | 1,175 | 671,313 | ||||||
Union Pacific Corp. | 4,050 | 793,840 | ||||||
UnitedHealth Group, Inc. | 1,625 | 634,952 | ||||||
Verizon Communications, Inc. | 11,200 | 604,912 | ||||||
Waste Management, Inc. | 5,100 | 761,736 | ||||||
WEC Energy Group, Inc. | 6,150 | 542,430 | ||||||
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27,085,175 | ||||||||
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Total Common Stocks | 44,603,412 | |||||||
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Short-Term Securities - 2.2% | ||||||||
Fidelity Inst. Money Mkt. Gvt. Fund, 0.01% | 1,005,748 | 1,005,748 | ||||||
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Total Investments in Securities - 99.9% |
| 45,609,160 | ||||||
Other Assets and Liabilities, net - 0.1% |
| 47,379 | ||||||
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Total Net Assets - 100.0% |
| $45,656,539 | ||||||
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* | Non-income producing security. |
ADR — American Depositary Receipt
PLC — Public Limited Company
SEPTEMBER 30, 2021 | 1 |
SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2021
Sit Global Dividend Growth Fund (Continued)
Numeric footnotes not disclosed are not applicable to this Schedule of Investments.
Portfolio Structure - By Sector | (% of Total Net Assets) | |
Technology Services | 17.5% | |
Finance | 16.2 | |
Electronic Technology | 12.7 | |
Health Technology | 12.7 | |
Producer Manufacturing | 9.5 | |
Consumer Non-Durables | 8.4 | |
Consumer Services | 3.6 | |
Retail Trade | 3.1 | |
Process Industries | 2.8 | |
Transportation | 2.7 | |
Utilities | 2.5 | |
Industrial Services | 1.7 | |
Health Services | 1.4 | |
Communications | 1.3 | |
Commercial Services | 0.9 | |
Non-Energy Minerals | 0.7 | |
Short-Term Securities | 2.2 | |
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99.9 | ||
Other Assets and Liabilities, net | 0.1 | |
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100.0% | ||
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A summary of the levels for the Fund’s investments as of September 30, 2021 is as follows:
Investment in Securities | ||||||||||||||||
Level 1 Quoted | Level 2 Other significant observable inputs ($) | Level 3 Significant | Total ($) | |||||||||||||
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Common Stocks | ||||||||||||||||
Australia | 1,708,903 | 503,866 | — | 2,212,769 | ||||||||||||
France | 244,013 | 431,662 | — | 675,675 | ||||||||||||
Germany | 786,100 | 1,366,856 | — | 2,152,956 | ||||||||||||
Ireland | 2,330,062 | — | — | 2,330,062 | ||||||||||||
Japan | — | 1,152,285 | — | 1,152,285 | ||||||||||||
Singapore | — | 442,723 | — | 442,723 | ||||||||||||
Spain | — | 607,650 | — | 607,650 | ||||||||||||
Sweden | 302,120 | — | — | 302,120 | ||||||||||||
Switzerland | 1,152,034 | 2,576,045 | — | 3,728,079 | ||||||||||||
United Kingdom | 2,151,363 | 1,762,555 | — | 3,913,918 | ||||||||||||
United States | 27,085,175 | — | — | 27,085,175 | ||||||||||||
Short-Term Securities | 1,005,748 | — | — | 1,005,748 | ||||||||||||
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Total: | 36,765,518 | 8,843,642 | — | 45,609,160 | ||||||||||||
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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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