SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2022
Sit Global Dividend Growth Fund
Investments are grouped by geographic region
Name of Issuer | Quantity | Fair Value ($) | ||||||
Common Stocks - 98.0% | ||||||||
Asia - 7.4% | ||||||||
Australia - 4.4% | ||||||||
Atlassian Corp., PLC * | 3,525 | 1,035,751 | ||||||
BHP Group, Ltd. ADR | 6,150 | 475,087 | ||||||
Macquarie Group, Ltd. | 3,900 | 589,813 | ||||||
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2,100,651 | ||||||||
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Japan - 2.0% | ||||||||
Astellas Pharma, Inc. | 29,900 | 467,185 | ||||||
Recruit Holdings Co., Ltd. | 10,800 | 469,228 | ||||||
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936,413 | ||||||||
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Singapore - 1.0% | ||||||||
Singapore Technologies Engineering, Ltd. | 158,600 | 480,407 | ||||||
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Europe - 30.7% | ||||||||
France - 1.0% | ||||||||
Faurecia SE | 9,175 | 238,630 | ||||||
Safran SA, ADR | 7,700 | 226,380 | ||||||
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465,010 | ||||||||
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Germany - 4.8% | ||||||||
adidas AG | 835 | 194,577 | ||||||
Allianz SE, ADR | 35,000 | 832,300 | ||||||
Deutsche Post AG | 4,050 | 193,395 | ||||||
Infineon Technologies AG | 6,425 | 217,358 | ||||||
Muenchener Rueckversicherungs AG | 650 | 173,771 | ||||||
Siemens AG | 4,350 | 602,333 | ||||||
Siemens Energy AG | 1,600 | 36,401 | ||||||
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2,250,135 | ||||||||
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Ireland - 5.8% | ||||||||
Accenture, PLC | 3,675 | 1,239,320 | ||||||
Linde, PLC | 1,475 | 471,159 | ||||||
Medtronic, PLC | 6,200 | 687,890 | ||||||
Trane Technologies, PLC | 2,175 | 332,123 | ||||||
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2,730,492 | ||||||||
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Spain - 1.4% | ||||||||
Iberdrola SA | 60,400 | 660,171 | ||||||
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Sweden - 0.5% | ||||||||
Telefonaktiebolaget LM Ericsson, ADR | 26,975 | 246,551 | ||||||
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Switzerland - 7.8% | ||||||||
Chubb, Ltd. | 2,650 | 566,835 | ||||||
Logitech International SA | 9,625 | 710,133 | ||||||
Lonza Group AG | 950 | 688,374 | ||||||
Nestle SA | 6,075 | 789,863 | ||||||
Partners Group Holding AG | 725 | 897,697 | ||||||
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3,652,902 | ||||||||
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United Kingdom - 9.4% | ||||||||
AstraZeneca, PLC, ADR | 15,400 | 1,021,636 | ||||||
BAE Systems, PLC | 74,675 | 701,307 | ||||||
Diageo, PLC, ADR | 4,225 | 858,267 | ||||||
HomeServe, PLC | 33,725 | 373,473 | ||||||
London Stock Exchange Group, PLC | 6,875 | 716,929 | ||||||
RELX, PLC | 17,550 | 545,972 |
Name of Issuer | Quantity | Fair Value ($) | ||||||
Shell, PLC, ADR | 4,300 | 236,199 | ||||||
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4,453,783 | ||||||||
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North America - 59.9% | ||||||||
United States - 59.9% | ||||||||
Abbott Laboratories | 7,400 | 875,864 | ||||||
AbbVie, Inc. | 3,450 | 559,280 | ||||||
AES Corp. | 5,100 | 131,223 | ||||||
Alphabet, Inc. - Class A * | 450 | 1,251,607 | ||||||
Apple, Inc. | 19,200 | 3,352,512 | ||||||
Applied Materials, Inc. | 8,175 | 1,077,465 | ||||||
Arthur J Gallagher & Co. | 3,775 | 659,115 | ||||||
Bank of America Corp. | 16,300 | 671,886 | ||||||
Broadcom, Inc. | 1,825 | 1,149,166 | ||||||
Constellation Brands, Inc. | 2,750 | 633,380 | ||||||
CVS Health Corp. | 6,625 | 670,516 | ||||||
Equifax, Inc. | 1,000 | 237,100 | ||||||
Euronet Worldwide, Inc. * | 2,800 | 364,420 | ||||||
FedEx Corp. | 1,950 | 451,211 | ||||||
Goldman Sachs Group, Inc. | 1,400 | 462,140 | ||||||
Home Depot, Inc. * | 2,550 | 763,292 | ||||||
Honeywell International, Inc. | 3,200 | 622,656 | ||||||
Johnson & Johnson | 6,925 | 1,227,318 | ||||||
JPMorgan Chase & Co. | 7,350 | 1,001,952 | ||||||
Lockheed Martin Corp. | 1,565 | 690,791 | ||||||
McDonald’s Corp. | 1,860 | 459,941 | ||||||
Microsoft Corp. | 10,725 | 3,306,625 | ||||||
Mondelez International, Inc. | 7,100 | 445,738 | ||||||
Otis Worldwide Corp. | 3,875 | 298,181 | ||||||
PepsiCo, Inc. | 5,775 | 966,619 | ||||||
salesforce.com, Inc. * | 725 | 153,932 | ||||||
Scotts Miracle-Gro Co. | 2,675 | 328,918 | ||||||
Sherwin-Williams Co. | 1,875 | 468,038 | ||||||
Starbucks Corp. | 6,000 | 545,820 | ||||||
T Rowe Price Group, Inc. | 2,450 | 370,415 | ||||||
Thermo Fisher Scientific, Inc. | 1,175 | 694,014 | ||||||
Union Pacific Corp. | 4,050 | 1,106,501 | ||||||
UnitedHealth Group, Inc. | 1,625 | 828,701 | ||||||
Waste Management, Inc. | 5,100 | 808,350 | ||||||
WEC Energy Group, Inc. | 6,150 | 613,831 | ||||||
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28,248,518 | ||||||||
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Total Common Stocks | 46,225,033 | |||||||
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Short-Term Securities - 2.1% | ||||||||
Fidelity Inst. Money Mkt. Gvt. Fund, 0.12% | 970,899 | 970,899 | ||||||
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Total Investments in Securities - 100.1% | 47,195,932 | |||||||
Other Assets and Liabilities, net - (0.1)% | (69,290 | ) | ||||||
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Total Net Assets - 100.0% | $47,126,642 | |||||||
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* | Non-income producing security. |
ADR — American Depositary Receipt |
PLC — Public Limited Company |
MARCH 31, 2022 | 1 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2022
Sit Global Dividend Growth Fund (Continued)
Numeric footnotes not disclosed are not applicable to this Schedule of Investments.
Portfolio Structure - By Sector | (% of Total Net Assets) | |
Technology Services | 16.6% | |
Finance | 14.7 | |
Electronic Technology | 14.3 | |
Health Technology | 13.2 | |
Producer Manufacturing | 9.0 | |
Consumer Non-Durables | 8.2 | |
Transportation | 3.7 | |
Consumer Services | 3.3 | |
Retail Trade | 3.0 | |
Utilities | 3.0 | |
Process Industries | 2.7 | |
Health Services | 1.8 | |
Industrial Services | 1.7 | |
Commercial Services | 1.3 | |
Non-Energy Minerals | 1.0 | |
Energy Minerals | 0.5 | |
Short-Term Securities | 2.1 | |
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100.1 | ||
Other Assets and Liabilities, net | (0.1) | |
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100.0% | ||
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A summary of the levels for the Fund’s investments as of March 31, 2022 is as follows:
Investment in Securities | ||||||||||||||||
Level 1 Quoted | Level 2 Other significant | Level 3 Significant | Total ($) | |||||||||||||
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Common Stocks | ||||||||||||||||
Australia | 1,510,838 | 589,813 | — | 2,100,651 | ||||||||||||
France | 226,380 | 238,630 | — | 465,010 | ||||||||||||
Germany | 832,300 | 1,417,835 | — | 2,250,135 | ||||||||||||
Ireland | 2,730,492 | — | — | 2,730,492 | ||||||||||||
Japan | — | 936,413 | — | 936,413 | ||||||||||||
Singapore | — | 480,407 | — | 480,407 | ||||||||||||
Spain | — | 660,171 | — | 660,171 | ||||||||||||
Sweden | 246,551 | — | — | 246,551 | ||||||||||||
Switzerland | 1,276,968 | 2,375,934 | — | 3,652,902 | ||||||||||||
United Kingdom | 2,489,575 | 1,964,208 | — | 4,453,783 | ||||||||||||
United States | 28,248,518 | — | — | 28,248,518 | ||||||||||||
Short-Term Securities | 970,899 | — | — | 970,899 | ||||||||||||
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Total: | 38,532,521 | 8,663,411 | — | 47,195,932 | ||||||||||||
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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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