SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2022
Sit Balanced Fund
Investments are grouped by economic sectors.
Name of Issuer | Quantity | Fair Value ($) | ||||||
Common Stocks - 64.0% | ||||||||
Commercial Services - 0.4% | ||||||||
Equifax, Inc. | 1,100 | 260,810 | ||||||
|
|
| ||||||
Communications - 0.8% | ||||||||
American Tower Corp. | 2,025 | 508,721 | ||||||
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| ||||||
Consumer Durables - 0.7% | ||||||||
YETI Holdings, Inc. * | 7,300 | 437,854 | ||||||
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| ||||||
Consumer Non-Durables - 3.1% | ||||||||
Constellation Brands, Inc. | 2,275 | 523,978 | ||||||
Estee Lauder Cos., Inc. - Class A | 2,000 | 544,640 | ||||||
Mondelez International, Inc. | 3,400 | 213,452 | ||||||
NIKE, Inc. | 2,950 | 396,952 | ||||||
PepsiCo, Inc. | 1,825 | 305,469 | ||||||
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|
| ||||||
1,984,491 | ||||||||
|
|
| ||||||
Consumer Services - 3.0% | ||||||||
Chegg, Inc. * | 3,325 | 120,631 | ||||||
McDonald’s Corp. | 2,300 | 568,744 | ||||||
Starbucks Corp. | 4,850 | 441,205 | ||||||
Visa, Inc. | 3,500 | 776,195 | ||||||
|
|
| ||||||
1,906,775 | ||||||||
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|
| ||||||
Electronic Technology - 11.4% | ||||||||
Apple, Inc. | 18,125 | 3,164,806 | ||||||
Applied Materials, Inc. | 7,825 | 1,031,335 | ||||||
Broadcom, Inc. | 1,865 | 1,174,353 | ||||||
Keysight Technologies, Inc. * | 1,925 | 304,092 | ||||||
NVIDIA Corp. | 5,140 | 1,402,500 | ||||||
Qualcomm, Inc. | 1,625 | 248,333 | ||||||
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| ||||||
7,325,419 | ||||||||
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|
| ||||||
Energy Minerals - 0.5% | ||||||||
ConocoPhillips | 3,075 | 307,500 | ||||||
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| ||||||
Finance - 3.6% | ||||||||
Ameriprise Financial, Inc. | 2,000 | 600,720 | ||||||
Chubb, Ltd. | 1,875 | 401,062 | ||||||
First Republic Bank | 1,750 | 283,675 | ||||||
Goldman Sachs Group, Inc. | 1,800 | 594,180 | ||||||
JPMorgan Chase & Co. | 3,425 | 466,896 | ||||||
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| ||||||
2,346,533 | ||||||||
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| ||||||
Health Services - 3.5% | ||||||||
Centene Corp. * | 3,150 | 265,198 | ||||||
HCA Healthcare, Inc. | 2,625 | 657,877 | ||||||
UnitedHealth Group, Inc. | 2,650 | 1,351,421 | ||||||
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| ||||||
2,274,496 | ||||||||
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| ||||||
Health Technology - 6.3% | ||||||||
Abbott Laboratories | 3,550 | 420,178 | ||||||
AbbVie, Inc. | 2,925 | 474,172 | ||||||
Baxter International, Inc. | 4,375 | 339,237 | ||||||
Dexcom, Inc. * | 1,465 | 749,494 | ||||||
Johnson & Johnson | 3,000 | 531,690 | ||||||
Medtronic, PLC | 6,225 | 690,664 | ||||||
Thermo Fisher Scientific, Inc. | 1,375 | 812,144 | ||||||
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| ||||||
4,017,579 | ||||||||
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| ||||||
Process Industries - 1.7% | ||||||||
Darling Ingredients, Inc. * | 3,525 | 283,339 | ||||||
Linde, PLC | 1,225 | 391,302 |
Name of Issuer | Quantity | Fair Value ($) | ||||||
Sherwin-Williams Co. | 1,800 | 449,316 | ||||||
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| ||||||
1,123,957 | ||||||||
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| ||||||
Producer Manufacturing - 4.0% | ||||||||
Aptiv, PLC * | 1,725 | 206,500 | ||||||
Honeywell International, Inc. | 2,275 | 442,670 | ||||||
Motorola Solutions, Inc. | 1,400 | 339,080 | ||||||
Northrop Grumman Corp. | 875 | 391,317 | ||||||
Parker-Hannifin Corp. | 1,600 | 454,016 | ||||||
Safran SA, ADR | 11,550 | 339,570 | ||||||
Siemens AG, ADR | 6,800 | 470,152 | ||||||
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| ||||||
2,643,305 | ||||||||
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| ||||||
Retail Trade - 6.1% | ||||||||
Amazon.com, Inc. * | 610 | 1,988,570 | ||||||
CVS Health Corp. | 5,800 | 587,018 | ||||||
Home Depot, Inc. | 2,050 | 613,627 | ||||||
TJX Cos., Inc. | 6,550 | 396,799 | ||||||
Ulta Beauty, Inc. * | 795 | 316,585 | ||||||
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| ||||||
3,902,599 | ||||||||
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| ||||||
Technology Services - 16.5% | ||||||||
Accenture, PLC | 2,025 | 682,891 | ||||||
Adobe, Inc. * | 1,300 | 592,306 | ||||||
Alphabet, Inc. - Class A * | 620 | 1,724,437 | ||||||
Alphabet, Inc. - Class C * | 205 | 572,563 | ||||||
Atlassian Corp., PLC * | 2,150 | 631,734 | ||||||
Autodesk, Inc. * | 1,900 | 407,265 | ||||||
DocuSign, Inc. * | 2,025 | 216,918 | ||||||
Dynatrace, Inc. * | 5,975 | 281,422 | ||||||
EPAM Systems, Inc. * | 185 | 54,873 | ||||||
Intuit, Inc. | 1,200 | 577,008 | ||||||
Meta Platforms, Inc. * | 2,000 | 444,720 | ||||||
Microsoft Corp. | 7,800 | 2,404,818 | ||||||
Paycom Software, Inc. * | 600 | 207,828 | ||||||
PayPal Holdings, Inc. * | 2,675 | 309,364 | ||||||
RingCentral, Inc. * | 350 | 41,024 | ||||||
salesforce.com, Inc. * | 3,650 | 774,968 | ||||||
ServiceNow, Inc. * | 560 | 311,858 | ||||||
Splunk, Inc. * | 1,950 | 289,789 | ||||||
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| ||||||
10,525,786 | ||||||||
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Transportation - 1.8% | ||||||||
FedEx Corp. | 2,350 | 543,766 | ||||||
Union Pacific Corp. | 2,050 | 560,081 | ||||||
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| ||||||
1,103,847 | ||||||||
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|
| ||||||
Utilities - 0.6% | ||||||||
NextEra Energy, Inc. | 4,140 | 350,699 | ||||||
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Total Common Stocks | 41,020,371 | |||||||
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| ||||||
Name of Issuer | Principal Amount ($) | Fair Value ($) | ||||||
Bonds – 30.4% | ||||||||
Asset-Backed Securities - 0.5% | ||||||||
Bayview Opportunity Master Fund | 29,798 | 29,480 |
MARCH 31, 2022 | 1 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2022
Sit Balanced Fund (Continued)
Name of Issuer | Principal Amount ($) | Fair Value ($) | ||||||
OSCAR US Funding Trust | 14,941 | 14,946 | ||||||
Small Business Administration: | ||||||||
2008-20A 1, 5.17%, 1/1/28 | 18,022 | 18,595 | ||||||
2007-20H 1, 5.78%, 8/1/27 | 15,942 | 16,506 | ||||||
Towd Point Mortgage Trust: | ||||||||
2020-MH1 A1A, 2.18%, 2/25/60 1, 4 | 115,699 | 111,961 | ||||||
2019-MH1 A2, 3.00%, 11/25/58 1, 4 | 100,000 | 98,137 | ||||||
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| ||||||
289,625 | ||||||||
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| ||||||
Collateralized Mortgage Obligations - 5.9% |
| |||||||
Fannie Mae: | ||||||||
2017-84 JP, 2.75%, 10/25/47 | 21,449 | 21,118 | ||||||
2003-34 A1, 6.00%, 4/25/43 | 27,533 | 29,438 | ||||||
2004-T1 1A1, 6.00%, 1/25/44 | 17,369 | 18,681 | ||||||
1999-17 C, 6.35%, 4/25/29 | 7,034 | 7,501 | ||||||
2001-82 ZA, 6.50%, 1/25/32 | 10,452 | 11,225 | ||||||
2009-30 AG, 6.50%, 5/25/39 | 30,910 | 34,217 | ||||||
2013-28 WD, 6.50%, 5/25/42 | 31,040 | 35,004 | ||||||
2004-T1 1A2, 6.50%, 1/25/44 | 50,864 | 55,485 | ||||||
2004-W9 2A1, 6.50%, 2/25/44 | 30,037 | 32,689 | ||||||
2010-108 AP, 7.00%, 9/25/40 | 762 | 835 | ||||||
2004-T3 1A3, 7.00%, 2/25/44 | 5,765 | 6,394 | ||||||
1993-21 KA, 7.70%, 3/25/23 | 4,013 | 4,083 | ||||||
Freddie Mac: | ||||||||
4293 BA, 5.27%, 10/15/47 1 | 10,958 | 11,832 | ||||||
2122 ZE, 6.00%, 2/15/29 | 39,129 | 42,184 | ||||||
2126 C, 6.00%, 2/15/29 | 23,550 | 25,152 | ||||||
2480 Z, 6.00%, 8/15/32 | 25,904 | 27,859 | ||||||
2485 WG, 6.00%, 8/15/32 | 25,879 | 28,031 | ||||||
2575 QE, 6.00%, 2/15/33 | 12,159 | 13,097 | ||||||
2980 QA, 6.00%, 5/15/35 | 12,808 | 13,697 | ||||||
2283 K, 6.50%, 12/15/23 | 1,474 | 1,516 | ||||||
2357 ZJ, 6.50%, 9/15/31 | 17,074 | 18,272 | ||||||
4520 HM, 6.50%, 8/15/45 | 15,209 | 17,521 | ||||||
3704 CT, 7.00%, 12/15/36 | 11,002 | 12,457 | ||||||
2238 PZ, 7.50%, 6/15/30 | 9,819 | 10,997 | ||||||
Government National Mortgage Association: | ||||||||
2021-86 WB, 4.78%, 5/20/51 1 | 161,737 | 173,824 | ||||||
2021-27 CW, 5.00%, 2/20/51 1 | 149,354 | 166,091 | ||||||
2021-104 HT, 5.50%, 6/20/51 | 191,313 | 208,675 | ||||||
2021-27 AW, 5.84%, 2/20/51 1 | 213,430 | 247,621 | ||||||
2015-80 BA, 6.99%, 6/20/45 1 | 13,140 | 14,332 | ||||||
2018-147 AM, 7.00%, 10/20/48 | 34,824 | 37,157 | ||||||
2018-160 DA, 7.00%, 11/20/48 | 32,148 | 34,807 | ||||||
2014-69 W, 7.21%, 11/20/34 1 | 17,327 | 18,931 | ||||||
2013-133 KQ, 7.31%, 8/20/38 1 | 18,985 | 21,149 | ||||||
2005-74 HA, 7.50%, 9/16/35 | 2,805 | 2,922 | ||||||
JP Morgan Mortgage Trust: | ||||||||
2022-1 A11, 0.90%, 7/25/52 1, 4 | 368,649 | 359,772 | ||||||
2021-13 A11, 0.95%, 4/25/52 1, 4 | 321,180 | 316,844 | ||||||
2022-2 A11, 1.10%, 8/25/52 1, 4 | 344,940 | 343,752 | ||||||
2021-3 A4, 2.50%, 7/25/51 1, 4 | 142,425 | 137,077 | ||||||
2021-6 A4, 2.50%, 10/25/51 1, 4 | 337,179 | 323,705 | ||||||
2021-13 A4, 2.50%, 4/25/52 1, 4 | 311,574 | 299,302 | ||||||
2019-HYB1 A5A, 3.00%, 10/25/49 1, 4 | 42,416 | 40,994 |
Name of Issuer | Principal Amount ($) | Fair Value ($) | ||||||
2020-8 A3, 3.00%, 3/25/51 1, 4 | 20,785 | 20,046 | ||||||
2021-6 A12, 5.00%, 10/25/51 1, 4 | 308,773 | 336,795 | ||||||
New Residential Mortgage Loan Trust: | 46,459 | 47,503 | ||||||
PMT Loan Trust: | 31,202 | 30,494 | ||||||
Sequoia Mortgage Trust: | 52,904 | 52,125 | ||||||
Vendee Mortgage Trust: | ||||||||
1994-2 2, 5.49%, 5/15/24 1 | 1,293 | 1,293 | ||||||
2008-1 B, 6.02%, 3/15/25 1 | 8,069 | 8,643 | ||||||
Wells Fargo Mortgaged Backed Securities Trust: | ||||||||
2020-5 A3, 2.50%, 9/25/50 1, 4 | 41,514 | 39,735 | ||||||
2020-2 A17, 3.00%, 12/25/49 1, 4 | 31,606 | 30,379 | ||||||
2020-2 A3, 3.00%, 12/25/49 1, 4 | 8,808 | 8,803 | ||||||
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|
| ||||||
3,802,056 | ||||||||
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| ||||||
Corporate Bonds - 7.4% | ||||||||
Bank of America Corp., 1.29%, 2/4/28 1 | 200,000 | 198,624 | ||||||
British Airways 2020-1 Class B Pass Through Trust, 8.38%, 11/15/28 4 | 52,197 | 57,678 | ||||||
Charles Stark Draper Lab., Inc., 4.39%, 9/1/48 | 100,000 | 110,044 | ||||||
Citigroup, Inc., 1.49%, 2/24/28 1 | 100,000 | 99,936 | ||||||
ConocoPhillips Co., 6.95%, 4/15/29 | 125,000 | 154,591 | ||||||
Consumers Energy Co., 4.35%, 8/31/64 | 50,000 | 52,870 | ||||||
CVS Pass-Through Trust, 7.51%, 1/10/32 4 | 125,774 | 146,559 | ||||||
Delta Air Lines 2015-1 Class AA Pass Through Trust, 3.63%, 7/30/27 | 125,511 | 124,379 | ||||||
Duke Energy Florida, LLC: | ||||||||
2.54%, 9/1/29 | 50,000 | 48,894 | ||||||
2.86%, 3/1/33 | 120,000 | 117,092 | ||||||
Entergy Louisiana, LLC, 4.95%, 1/15/45 | 150,000 | 155,158 | ||||||
Equifax, Inc., 6.90%, 7/1/28 | 150,000 | 174,575 | ||||||
Equinor ASA, 7.15%, 11/15/25 | 150,000 | 170,570 | ||||||
Fairfax Financial Holdings, 7.75%, 7/15/37 | 150,000 | 189,141 | ||||||
Goldman Sachs Group, Inc., 0.84%, 3/8/24 1 | 175,000 | 173,464 | ||||||
ITT, LLC, 7.40%, 11/15/25 | 25,000 | 27,321 | ||||||
Johnson & Johnson, 3.55%, 3/1/36 | 150,000 | 155,099 | ||||||
JPMorgan Chase & Co., 1.15%, 2/24/26 1 | 100,000 | 99,899 | ||||||
Lincoln National Corp., 7.00%, 6/15/40 | 100,000 | 131,757 | ||||||
Nationwide Mutual Insurance Co. (Subordinated), 3 Mo. Libor + 2.29, 3.12%, 12/15/24 1, 4 | 100,000 | 100,068 | ||||||
Northern Trust Corp. (Subordinated), 3 Mo. | ||||||||
Libor + 1.13, 3.38%, 5/8/32 1 | 250,000 | 244,864 | ||||||
PacifiCorp, 7.70%, 11/15/31 | 150,000 | 198,405 | ||||||
Polar Tankers, Inc., 5.95%, 5/10/37 4 | 100,000 | 113,230 | ||||||
Principal Financial Group, Inc., 3 Mo. Libor + 3.04%, 3.55%, 5/15/55 1 | 100,000 | 97,000 | ||||||
Royal Bank of Canada, 0.75%, 11/2/26 1 | 175,000 | 172,552 | ||||||
Security Benefit Life Insurance Co. (Subordinated), 7.45%, 10/1/33 4 | 100,000 | 113,324 | ||||||
Spirit Airlines, 4.10%, 4/1/28 | 115,466 | 112,816 | ||||||
Tennessee Gas Pipeline, LLC, 7.00%, 10/15/28 | 213,000 | 250,482 | ||||||
Toronto-Dominion Bank, 0.52%, 1/10/25 1 | 125,000 | 123,756 | ||||||
Tyco Intl. Finance, 3.90%, 2/14/26 | 200,000 | 198,828 |
2 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2022
Sit Balanced Fund (Continued)
Name of Issuer | Principal Amount ($) | Fair Value ($) | ||||||
United Airlines 2019-2 Class AA Pass Through Trust, 2.70%, 5/1/32 | 140,337 | 128,606 | ||||||
Unum Group, 7.25%, 3/15/28 | 25,000 | 29,147 | ||||||
US Bank NA, 0.67%, 6/2/23 1 | 250,000 | 249,237 | ||||||
West Loop BC (Subordinated), 3 Mo. Libor + 1.87, 4.00%, 12/1/27 1 | 225,000 | 227,685 | ||||||
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| ||||||
4,747,651 | ||||||||
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Federal Home Loan Mortgage Corporation - 0.3% |
| |||||||
7.50%, 7/1/29 | 67,315 | 73,507 | ||||||
8.00%, 2/1/34 | 6,859 | 7,442 | ||||||
8.50%, 9/1/24 | 118 | 118 | ||||||
8.50%, 5/1/31 | 89,755 | 98,883 | ||||||
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179,950 | ||||||||
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| ||||||
Federal National Mortgage Association - 1.1% |
| |||||||
5.50%, 10/1/33 | 37,129 | 39,501 | ||||||
5.50%, 8/1/56 | 194,183 | 215,308 | ||||||
6.00%, 7/1/41 | 179,869 | 197,907 | ||||||
6.50%, 2/1/24 | 4,582 | 4,665 | ||||||
6.50%, 9/1/27 | 24,642 | 26,461 | ||||||
6.50%, 6/1/40 | 71,130 | 77,532 | ||||||
7.00%, 1/1/32 | 4,900 | 5,035 | ||||||
7.00%, 3/1/33 | 14,595 | 15,576 | ||||||
7.00%, 12/1/38 | 19,381 | 20,576 | ||||||
8.00%, 6/1/24 | 3,428 | 3,557 | ||||||
8.00%, 1/1/31 | 5,838 | 5,881 | ||||||
8.00%, 2/1/31 | 15,647 | 17,838 | ||||||
8.00%, 9/1/37 | 39,386 | 43,514 | ||||||
8.42%, 7/15/26 | 1,721 | 1,742 | ||||||
8.50%, 10/1/30 | 16,543 | 18,104 | ||||||
10.00%, 6/1/31 | 20,149 | 21,650 | ||||||
|
|
| ||||||
714,847 | ||||||||
|
|
| ||||||
Government National Mortgage Association - 0.2% |
| |||||||
5.00%, 5/20/48 | 38,067 | 40,467 | ||||||
5.75%, 12/15/22 | 1,750 | 1,704 | ||||||
6.50%, 11/20/38 | 9,561 | 10,178 | ||||||
7.00%, 12/15/24 | 4,231 | 4,371 | ||||||
7.00%, 11/20/27 | 7,284 | 7,779 | ||||||
7.00%, 9/20/29 | 19,888 | 21,374 | ||||||
7.00%, 9/20/38 | 7,533 | 8,578 | ||||||
7.50%, 4/20/32 | 12,004 | 12,738 | ||||||
8.00%, 7/15/24 | 831 | 838 | ||||||
|
|
| ||||||
108,027 | ||||||||
|
|
| ||||||
Taxable Municipal Securities - 9.4% | ||||||||
Chicago Park Dist., 2.53%, 1/1/34 | 235,000 | 211,907 | ||||||
City of Encinitas CA, 1.45%, 9/1/27 | 250,000 | 230,947 | ||||||
CO Health Facs. Auth., 3.13%, 5/15/27 | 250,000 | 234,637 | ||||||
Colliers Hill Metropolitan Dist. No. 2, 3.99%, 12/1/47 | 250,000 | 246,310 | ||||||
Colorado Edu. & Cultural Fac. Auth., 3.97%, 3/1/56 | 205,000 | 201,109 | ||||||
Coventry Local Sch. Dist., 2.20%, 11/1/29 | 200,000 | 187,568 | ||||||
Great Lakes Water Auth. Sewage Disposal System, 3.51%, 7/1/44 | 150,000 | 143,712 | ||||||
IN Finance Auth., 3.31%, 3/1/51 | 250,000 | 214,415 | ||||||
Kentucky Higher Edu. Student Loan Corp. (Subordinated), 5.27%, 6/1/36 | 100,000 | 100,262 |
Name of Issuer | Principal Amount ($) | Fair Value ($) | ||||||
LaGrange Co. Regional Utility Dist., 2.98%, 1/1/40 | 230,000 | 207,416 | ||||||
Louisiana State Trans. Auth., 1.45%, 2/15/27 | 300,000 | 279,222 | ||||||
Madison Co. Comm. Sch. Dist. No. 7, 1.90%, 12/1/30 | 150,000 | 133,239 | ||||||
Maricopa Co. Industrial Dev. Auth., 5.00%, 7/1/44 4 | 100,000 | 99,122 | ||||||
Massachusetts Edu. Auth.: | ||||||||
4.00%, 1/1/32 | 30,000 | 30,531 | ||||||
4.41%, 7/1/34 | 20,000 | 20,615 | ||||||
MI State Hsg. Dev. Auth., 2.66%, 12/1/41 | 300,000 | 263,826 | ||||||
MN Hsg. Fin. Agy.: | ||||||||
2.31%, 1/1/27 | 145,000 | 142,004 | ||||||
4.73%, 1/1/49 | 5,000 | 5,079 | ||||||
NJ Higher Edu. Student Assit. Auth., 3.50%, 12/1/39 8 | 100,000 | 100,077 | ||||||
No. Dakota Hsg. Fin. Auth., 3.70%, 7/1/33 | 100,000 | 100,216 | ||||||
NY City Hsg. Dev. Corp.: | ||||||||
2.74%, 11/1/36 | 250,000 | 229,985 | ||||||
2.65%, 11/1/36 | 100,000 | 91,017 | ||||||
NY Mortgage Agency, 2.98%, 10/1/40 | 150,000 | 137,169 | ||||||
NY State Dormitory Auth., 2.69%, 7/1/35 | 200,000 | 185,230 | ||||||
Oregon State Fac. Auth.: | ||||||||
2.68%, 7/1/31 | 350,000 | 320,593 | ||||||
3.29%, 10/1/40 | 100,000 | 90,847 | ||||||
Public Fin. Auth., 4.23%, 7/1/32 | 105,000 | 112,086 | ||||||
South Carolina Student Loan Corp., 2.92%, 12/1/28 | 200,000 | 187,976 | ||||||
State of Ohio, 2.17%, 12/1/31 | 250,000 | 234,108 | ||||||
Texas Children’s Hospital, 3.37%, 10/1/29 17 | 115,000 | 119,854 | ||||||
Texas Trans. Comm. State Highway, 5.18%, 4/1/30 | 150,000 | 167,106 | ||||||
Utah Charter Sch. Fin. Auth., 2.40%, 10/15/27 | 205,000 | 195,394 | ||||||
VA Hsg. Dev. Auth., 2.13%, 7/25/51 | 241,555 | 227,125 | ||||||
WA State Hsg. Fin. Comm., 3.50%, 7/1/24 4 | 250,000 | 244,508 | ||||||
Warren Consol. Schools, 1.85%, 5/1/31 | 250,000 | 227,978 | ||||||
Wichita Falls, 1.65%, 9/1/28 | 145,000 | 134,232 | ||||||
|
|
| ||||||
6,057,422 | ||||||||
|
|
| ||||||
U.S. Treasury / Federal Agency Securities - 5.6% |
| |||||||
U.S. Treasury Bonds 2.25%, 2/15/52 | 550,000 | 527,227 | ||||||
U.S. Treasury Strip 1.97%, 11/15/50 6 | 1,525,000 | 753,589 | ||||||
U.S. Treasury Strip 2.18%, 8/15/47 6 | 650,000 | 343,524 | ||||||
U.S. Treasury Notes: | ||||||||
1.88%, 2/28/27 | 50,000 | 48,734 | ||||||
1.88%, 2/15/32 | 100,000 | 96,047 | ||||||
United States Treasury Inflation Bonds: | ||||||||
0.13%, 1/15/23 | 974,424 | 1,008,871 | ||||||
0.13%, 10/15/26 | 51,444 | 54,137 | ||||||
0.63%, 1/15/24 | 722,958 | 760,984 | ||||||
|
|
| ||||||
3,593,113 | ||||||||
|
|
| ||||||
Total Bonds | 19,492,691 | |||||||
|
|
|
MARCH 31, 2022 | 3 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2022
Sit Balanced Fund (Continued)
Name of Issuer | Quantity | Fair Value ($) | ||||||
Investment Companies 1.2% | ||||||||
BlackRock Enhanced Government Fund | 4,886 | 54,137 | ||||||
Franklin, Ltd. Duration, Income Trust | 4,666 | 35,368 | ||||||
Nuveen Multi-Market Income Fund, Inc. | 3,953 | 25,695 | ||||||
Putnam Master Intermediate Income Trust | 61,000 | 218,380 | ||||||
Putnam Premier Income Trust | 58,975 | 235,310 | ||||||
WA Inflation-Linked Opp. & Inc. Fund | 4,709 | 56,555 | ||||||
WA Inflation-Linked Sec. & Inc. Fund | 10,953 | 128,150 | ||||||
|
| |||||||
Total Investment Companies | 753,595 | |||||||
|
| |||||||
Short-Term Securities - 4.9% | ||||||||
Fidelity Inst. Money Mkt. Gvt. Fund, 0.12% | 3,162,231 | 3,162,231 | ||||||
|
| |||||||
Total Investments in Securities - 100.5% | 64,428,888 | |||||||
Other Assets and Liabilities, net - (0.5)% | (321,112) | |||||||
|
| |||||||
Total Net Assets - 100.0% | $64,107,776 | |||||||
|
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* | Non-income producing security. |
1 | Variable rate security. Rate disclosed is as of March 31, 2022. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions, or, for mortgage-backed securities, are impacted by the individual mortgages which are paying off over time. These securities do not indicate a reference rate and spread in their descriptions. |
4 | 144A Restricted Security. The total value of such securities as of March 31, 2022 was $3,516,339 and represented 5.5% of net assets. These securities have been determined to be liquid by the Adviser in accordance with guidelines established by the Board of Directors. |
6 | Zero coupon or convertible capital appreciation bond, for which the rate disclosed is either the effective yield on purchase date or the coupon rate to be paid upon conversion to coupon paying. |
8 | Securities the income from which is treated as a tax preference that is included in alternative minimum taxable income for purposes of computing federal alternative minimum tax (AMT). At March 31, 2022, 0.2% of net assets in the Fund was invested in such securities. |
17 | Security that is either an absolute and unconditional obligation of the United States Government or is collateralized by securities, loans, or leases guaranteed by the U.S. Government or its agencies or instrumentalities. |
ADR — American Depositary Receipt |
LLC — Limited Liability Company |
PLC — Public Limited Company |
Numeric footnotes not disclosed are not applicable to this Schedule of Investments.
4 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2022
Sit Balanced Fund (Continued)
A summary of the levels for the Fund’s investments as of March 31, 2022 is as follows:
Investment in Securities | ||||||||||||||||
Level 1 Quoted Prices ($) | Level 2 Other significant observable inputs ($) | Level 3 Significant unobservable inputs ($) | Total ($) | |||||||||||||
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| |||||||||||||||
Common Stocks** | 41,020,371 | — | — | 41,020,371 | ||||||||||||
Asset-Backed Securities | — | 289,625 | — | 289,625 | ||||||||||||
Collateralized Mortgage Obligations | — | 3,802,056 | — | 3,802,056 | ||||||||||||
Corporate Bonds | — | 4,747,651 | — | 4,747,651 | ||||||||||||
Federal Home Loan Mortgage Corporation | — | 179,950 | — | 179,950 | ||||||||||||
Federal National Mortgage Association | — | 714,847 | — | 714,847 | ||||||||||||
Government National Mortgage Association | — | 108,027 | — | 108,027 | ||||||||||||
Taxable Municipal Securities | — | 6,057,422 | — | 6,057,422 | ||||||||||||
U.S. Treasury / Federal Agency Securities | — | 3,593,113 | — | 3,593,113 | ||||||||||||
Investment Companies | 753,595 | — | — | 753,595 | ||||||||||||
Short-Term Securities | 3,162,231 | — | — | 3,162,231 | ||||||||||||
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Total: | 44,936,197 | 19,492,691 | — | 64,428,888 | ||||||||||||
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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.
MARCH 31, 2022 | 5 |