SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2022
Sit Small Cap Dividend Growth Fund
Investments are grouped by economic sectors.
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Name of Issuer | Quantity | Fair Value ($) | ||||||
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Common Stocks - 98.4% | ||||||||
Commercial Services - 5.0% | ||||||||
Booz Allen Hamilton Holding Corp. | 3,200 | 281,088 | ||||||
Brink’s Co. | 2,750 | 187,000 | ||||||
Colliers International Group, Inc. | 2,050 | 267,320 | ||||||
FTI Consulting, Inc. * | 850 | 133,637 | ||||||
World Fuel Services Corp. | 8,675 | 234,572 | ||||||
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1,103,617 | ||||||||
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Consumer Durables - 3.6% | ||||||||
BRP, Inc. | 1,275 | 104,282 | ||||||
Helen of Troy, Ltd. * | 750 | 146,880 | ||||||
MDC Holdings, Inc. | 4,050 | 153,252 | ||||||
National Presto Industries, Inc. | 750 | 57,713 | ||||||
Thor Industries, Inc. | 2,300 | 181,010 | ||||||
YETI Holdings, Inc. * | 2,700 | 161,946 | ||||||
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805,083 | ||||||||
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Consumer Non-Durables - 2.0% | ||||||||
Crocs, Inc. * | 1,375 | 105,050 | ||||||
Sensient Technologies Corp. | 2,450 | 205,678 | ||||||
Wolverine World Wide, Inc. | 5,800 | 130,848 | ||||||
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441,576 | ||||||||
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Consumer Services - 3.2% | ||||||||
Chegg, Inc. * | 3,000 | 108,840 | ||||||
Nexstar Media Group, Inc. | 2,250 | 424,080 | ||||||
Vail Resorts, Inc. | 700 | 182,189 | ||||||
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715,109 | ||||||||
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Electronic Technology - 8.9% | ||||||||
CMC Materials, Inc. | 2,200 | 407,880 | ||||||
II-VI, Inc. * | 2,450 | 177,600 | ||||||
MKS Instruments, Inc. | 3,275 | 491,250 | ||||||
Monolithic Power Systems, Inc. | 1,200 | 582,816 | ||||||
Power Integrations, Inc. | 3,400 | 315,112 | ||||||
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1,974,658 | ||||||||
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Finance - 29.0% | ||||||||
Air Lease Corp. | 4,225 | 188,646 | ||||||
American Financial Group, Inc. | 1,875 | 273,037 | ||||||
Artisan Partners Asset Management, Inc. | 6,300 | 247,905 | ||||||
Associated Banc-Corp. | 7,175 | 163,303 | ||||||
Axis Capital Holdings, Ltd. | 6,300 | 380,961 | ||||||
Broadstone Net Lease, Inc. | 11,800 | 257,004 | ||||||
Carlyle Group, Inc. | 8,075 | 394,948 | ||||||
CNO Financial Group, Inc. | 14,000 | 351,260 | ||||||
CubeSmart | 5,250 | 273,157 | ||||||
Essential Properties Realty Trust, Inc. | 10,050 | 254,265 | ||||||
Evercore Partners, Inc. | 2,425 | 269,951 | ||||||
H&E Equipment Services, Inc. | 8,700 | 378,624 | ||||||
Hannon Armstrong Sust. Inf. Cap., Inc. | 2,800 | 132,804 | ||||||
Hanover Insurance Group, Inc. | 1,275 | 190,638 | ||||||
HCI Group, Inc. | 2,100 | 143,178 | ||||||
Hercules Capital, Inc. | 13,100 | 236,717 | ||||||
Old National Bancorp | 20,675 | 338,657 | ||||||
People’s United Financial, Inc. | 18,425 | 368,316 | ||||||
Physicians Realty Trust | 11,250 | 197,325 | ||||||
Piper Sandler Cos | 1,450 | 190,313 | ||||||
PotlatchDeltic Corp. | 2,810 | 148,171 | ||||||
Provident Financial Services, Inc. | 11,075 | 259,155 |
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Name of Issuer | Quantity | Fair Value ($) | ||||||
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Stifel Financial Corp. | 6,000 | 407,400 | ||||||
STORE Capital Corp. | 6,225 | 181,957 | ||||||
Western Alliance Bancorp | 2,775 | 229,826 | ||||||
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6,457,518 | ||||||||
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Health Services - 4.9% | ||||||||
Addus HomeCare Corp. * | 2,575 | 240,222 | ||||||
Encompass Health Corp. | 4,200 | 298,662 | ||||||
Tenet Healthcare Corp. * | 6,400 | 550,144 | ||||||
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1,089,028 | ||||||||
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Health Technology - 7.0% | ||||||||
AtriCure, Inc. * | 3,500 | 229,845 | ||||||
Atrion Corp. | 250 | 178,250 | ||||||
Avid Bioservices, Inc. * | 1,975 | 40,231 | ||||||
Bio-Techne Corp. | 325 | 140,738 | ||||||
Halozyme Therapeutics, Inc. * | 4,350 | 173,478 | ||||||
ICU Medical, Inc. * | 975 | 217,074 | ||||||
Inmode, Ltd. * | 6,250 | 230,687 | ||||||
Seres Therapeutics, Inc. * | 6,800 | 48,416 | ||||||
STERIS, PLC | 975 | 235,726 | ||||||
Twist Bioscience Corp. * | 1,425 | 70,366 | ||||||
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1,564,811 | ||||||||
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Industrial Services - 4.5% | ||||||||
EMCOR Group, Inc. | 2,400 | 270,312 | ||||||
KBR, Inc. | 10,775 | 589,716 | ||||||
MYR Group, Inc. * | 1,400 | 131,656 | ||||||
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991,684 | ||||||||
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Non-Energy Minerals - 2.9% | ||||||||
AZEK Co., Inc. * | 5,700 | 141,588 | ||||||
Commercial Metals Co. | 3,950 | 164,399 | ||||||
Eagle Materials, Inc. | 1,575 | 202,167 | ||||||
MP Materials Corp. * | 2,325 | 133,315 | ||||||
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641,469 | ||||||||
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Process Industries - 5.6% | ||||||||
Avient Corp. | 2,125 | 102,000 | ||||||
Huntsman Corp. | 4,650 | 174,422 | ||||||
Neenah, Inc. | 2,525 | 100,141 | ||||||
Olin Corp. | 7,625 | 398,635 | ||||||
Scotts Miracle-Gro Co. | 1,725 | 212,106 | ||||||
Silgan Holdings, Inc. | 5,800 | 268,134 | ||||||
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1,255,438 | ||||||||
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Producer Manufacturing - 11.5% | ||||||||
AGCO Corp. | 1,350 | 197,140 | ||||||
Applied Industrial Technologies, Inc. | 2,475 | 254,084 | ||||||
AZZ, Inc. | 3,650 | 176,076 | ||||||
Belden, Inc. | 3,175 | 175,895 | ||||||
Carlisle Cos, Inc. | 1,650 | 405,768 | ||||||
Crane Co. | 3,275 | 354,617 | ||||||
Donaldson Co., Inc. | 3,275 | 170,071 | ||||||
EnPro Industries, Inc. | 2,050 | 200,347 | ||||||
Hubbell, Inc. | 1,225 | 225,118 | ||||||
Lincoln Electric Holdings, Inc. | 1,725 | 237,722 | ||||||
Regal Rexnord Corp. | 1,042 | 155,029 | ||||||
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2,551,867 | ||||||||
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Retail Trade - 1.8% | ||||||||
Boot Barn Holdings, Inc. * | 2,200 | 208,538 |
MARCH 31, 2022 | 1 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2022
Sit Small Cap Dividend Growth Fund (Continued)
Name of Issuer | Quantity | Fair Value ($) | ||||||
Casey’s General Stores, Inc. | 1,025 | 203,124 | ||||||
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411,662 | ||||||||
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Technology Services - 2.6% | ||||||||
Altair Engineering, Inc. * | 800 | 51,520 | ||||||
Globant SA * | 1,625 | 425,864 | ||||||
ManTech International Corp. | 1,275 | 109,892 | ||||||
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587,276 | ||||||||
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Transportation - 3.6% | ||||||||
Knight-Swift Transportation Holdings, Inc. | 5,750 | 290,145 | ||||||
Marten Transport, Ltd. | 8,450 | 150,072 | ||||||
TFI International, Inc. | 3,475 | 370,122 | ||||||
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810,339 | ||||||||
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Utilities - 2.3% | ||||||||
Black Hills Corp. | 4,000 | 308,080 | ||||||
Spire, Inc. | 2,950 | 211,692 | ||||||
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519,772 | ||||||||
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Total Common Stocks | 21,920,907 | |||||||
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Short-Term Securities - 1.5% | ||||||||
Fidelity Inst. Money Mkt. Gvt. Fund, 0.12% | 337,776 | 337,776 | ||||||
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Total Investments in Securities - 99.9% | 22,258,683 | |||||||
Other Assets and Liabilities, net - 0.1% | 14,149 | |||||||
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Total Net Assets - 100.0% | $22,272,832 | |||||||
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* | Non-income producing security. |
PLC — Public Limited Company |
Numeric footnotes not disclosed are not applicable to this Schedule of Investments.
A summary of the levels for the Fund’s investments as of March 31, 2022 is as follows:
Investment in Securities | ||||||||||||||
Level 1 Quoted Prices ($) | Level 2 Other significant observable inputs ($) | Level 3 Significant unobservable inputs ($) | Total ($) | |||||||||||
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Common Stocks** | 21,920,907 | — | — | 21,920,907 | ||||||||||
Short-Term Securities | 337,776 | — | — | 337,776 | ||||||||||
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Total: | 22,258,683 | — | — | 22,258,683 | ||||||||||
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** | 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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