SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2023
Sit Small Cap Growth Fund
Investments are grouped by economic sectors.
Name of Issuer | Quantity | Fair Value ($) | ||||||
Common Stocks - 98.0% | ||||||||
Commercial Services - 4.9% | ||||||||
ASGN, Inc. * | 19,450 | 1,607,932 | ||||||
Booz Allen Hamilton Holding Corp. | 16,900 | 1,566,461 | ||||||
Colliers International Group, Inc. | 12,700 | 1,340,485 | ||||||
FTI Consulting, Inc. * | 3,075 | 606,851 | ||||||
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5,121,729 |
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Consumer Durables - 1.9% | ||||||||
Take-Two Interactive Software, Inc. * | 4,075 | 486,147 | ||||||
Thor Industries, Inc. | 5,600 | 445,984 | ||||||
YETI Holdings, Inc. * | 25,325 | 1,013,000 | ||||||
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1,945,131 |
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Consumer Non-Durables - 0.3% | ||||||||
Crocs, Inc. * | 2,550 | 322,422 | ||||||
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Consumer Services - 2.9% | ||||||||
Nexstar Media Group, Inc. | 12,725 | 2,197,098 | ||||||
Vail Resorts, Inc. | 3,550 | 829,564 | ||||||
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3,026,662 |
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Electronic Technology - 9.9% | ||||||||
Arista Networks, Inc. * | 14,125 | 2,371,022 | ||||||
Ciena Corp. * | 14,150 | 743,158 | ||||||
Coherent Corp. * | 20,075 | 764,456 | ||||||
Entegris, Inc. | 5,249 | 430,470 | ||||||
MKS Instruments, Inc. | 13,400 | 1,187,508 | ||||||
Monolithic Power Systems, Inc. | 5,675 | 2,840,565 | ||||||
Skyworks Solutions, Inc. | 10,800 | 1,274,184 | ||||||
Stratasys, Ltd. * | 46,175 | 763,273 | ||||||
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10,374,636 |
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Energy Minerals - 4.1% | ||||||||
Northern Oil & Gas, Inc. | 73,075 | 2,217,826 | ||||||
Oasis Petroleum, Inc. | 15,100 | 2,032,460 | ||||||
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4,250,286 |
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Finance - 7.8% | ||||||||
Air Lease Corp. | 27,625 | 1,087,596 | ||||||
American Financial Group, Inc. | 4,800 | 583,200 | ||||||
Artisan Partners Asset Management, Inc. | 31,825 | 1,017,764 | ||||||
Axis Capital Holdings, Ltd. | 22,975 | 1,252,597 | ||||||
H&E Equipment Services, Inc. | 34,350 | 1,519,301 | ||||||
Hannon Armstrong Sust. Inf. Cap., Inc. | 25,800 | 737,880 | ||||||
Physicians Realty Trust | 61,600 | 919,688 | ||||||
Stifel Financial Corp. | 11,800 | 697,262 | ||||||
Western Alliance Bancorp | 10,825 | 384,720 | ||||||
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8,200,008 |
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Health Services - 4.3% | ||||||||
Addus HomeCare Corp. * | 12,600 | 1,345,176 | ||||||
Encompass Health Corp. | 19,675 | 1,064,418 | ||||||
Tenet Healthcare Corp. * | 34,900 | 2,073,758 | ||||||
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4,483,352 |
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Health Technology - 13.1% | ||||||||
Align Technology, Inc. * | 2,150 | 718,401 | ||||||
AtriCure, Inc. * | 28,300 | 1,173,035 | ||||||
Bio-Techne Corp. | 14,800 | 1,098,012 | ||||||
Exact Sciences Corp. * | 12,425 | 842,539 | ||||||
Halozyme Therapeutics, Inc. * | 33,000 | 1,260,270 |
Name of Issuer | Quantity | Fair Value ($) | ||||||
Inmode, Ltd. * | 32,900 | 1,051,484 | ||||||
Insulet Corp. * | 3,525 | 1,124,334 | ||||||
Intellia Therapeutics, Inc. * | 14,900 | 555,323 | ||||||
PerkinElmer, Inc. | 7,000 | 932,820 | ||||||
Sarepta Therapeutics, Inc. * | 9,450 | 1,302,494 | ||||||
Seres Therapeutics, Inc. * | 159,800 | 906,066 | ||||||
STAAR Surgical Co. * | 17,500 | 1,119,125 | ||||||
STERIS, PLC | 6,675 | 1,276,794 | ||||||
Twist Bioscience Corp. * | 22,000 | 331,760 | ||||||
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13,692,457 |
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Industrial Services - 7.5% | ||||||||
EMCOR Group, Inc. | 11,900 | 1,934,821 | ||||||
KBR, Inc. | 43,500 | 2,394,675 | ||||||
MYR Group, Inc. * | 8,675 | 1,093,137 | ||||||
Waste Connections, Inc. | 17,575 | 2,444,155 | ||||||
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7,866,788 |
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Non-Energy Minerals - 3.9% | ||||||||
AZEK Co., Inc. * | 24,200 | 569,668 | ||||||
Eagle Materials, Inc. | 10,300 | 1,511,525 | ||||||
MP Materials Corp. * | 33,350 | 940,136 | ||||||
Trex Co., Inc. * | 20,825 | 1,013,553 | ||||||
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4,034,882 |
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Process Industries - 4.0% | ||||||||
Avient Corp. | 13,200 | 543,312 | ||||||
Cabot Corp. | 3,700 | 283,568 | ||||||
Olin Corp. | 48,175 | 2,673,712 | ||||||
Vital Farms, Inc. * | 41,675 | 637,628 | ||||||
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4,138,220 |
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Producer Manufacturing - 9.6% | ||||||||
AZZ, Inc. | 22,575 | 930,993 | ||||||
Belden, Inc. | 20,275 | 1,759,262 | ||||||
Carlisle Cos, Inc. | 2,200 | 497,354 | ||||||
Crane Holdings Co. | 19,075 | 2,165,013 | ||||||
Donaldson Co., Inc. | 13,575 | 886,990 | ||||||
Hubbell, Inc. | 5,225 | 1,271,295 | ||||||
Lincoln Electric Holdings, Inc. | 7,100 | 1,200,610 | ||||||
Regal Rexnord Corp. | 6,755 | 950,631 | ||||||
Zurn Water Solutions Corp. | 19,325 | 412,782 | ||||||
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10,074,930 |
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Retail Trade - 3.9% | ||||||||
Boot Barn Holdings, Inc. * | 19,875 | 1,523,220 | ||||||
Casey’s General Stores, Inc. | 4,300 | 930,778 | ||||||
Ulta Beauty, Inc. * | 3,050 | 1,664,293 | ||||||
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4,118,291 |
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Technology Services - 13.8% | ||||||||
Altair Engineering, Inc. * | 25,933 | 1,870,029 | ||||||
ANSYS, Inc. * | 2,950 | 981,760 | ||||||
Aspen Technology, Inc. * | 5,281 | 1,208,662 | ||||||
Euronet Worldwide, Inc. * | 9,550 | 1,068,645 | ||||||
Globant SA * | 11,350 | 1,861,514 | ||||||
GoDaddy, Inc. * | 10,625 | 825,775 | ||||||
HubSpot, Inc. * | 3,600 | 1,543,500 | ||||||
nCino, Inc. * | 25,400 | 629,412 | ||||||
Paycom Software, Inc. * | 6,225 | 1,892,462 | ||||||
PTC, Inc. * | 17,600 | 2,256,848 |
MARCH 31, 2023 | 1 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2023
Sit Small Cap Growth Fund (Continued)
Name of Issuer | Quantity | Fair Value ($) | ||||||
Science Applications International Corp. | 2,700 | 290,142 | ||||||
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14,428,749 |
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Transportation - 6.1% | ||||||||
Alaska Air Group, Inc. * | 11,500 | 482,540 | ||||||
Golar LNG, Ltd. * | 68,100 | 1,470,960 | ||||||
Knight-Swift Transportation Holdings, Inc. | 18,725 | 1,059,461 | ||||||
Marten Transport, Ltd. | 48,000 | 1,005,600 | ||||||
TFI International, Inc. | 20,025 | 2,388,782 | ||||||
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6,407,343 |
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Total Common Stocks | 102,485,886 | |||||||
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Short-Term Securities - 2.0% | ||||||||
Fidelity Inst. Money Mkt. Gvt. Fund, 4.72% | 2,134,034 | 2,134,034 | ||||||
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Total Investments in Securities - 100.0% | 104,619,920 | |||||||
Other Assets and Liabilities, net - (0.0)% | (23,465 | ) | ||||||
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Net Assets - 100.0% | $104,596,455 | |||||||
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* Non-income producing security. |
PLC — Public Limited Company |
Numeric footnotes not disclosed are not applicable to this Schedule of Investments.
A summary of the levels for the Fund’s investments as of March 31, 2023 is as follows:
Investment in Securities | ||||||||||||||||
Level 1 | Level 2 | Level 3 | ||||||||||||||
Quoted Prices ($) | Other significant observable inputs ($) | Significant unobservable inputs ($) | Total ($) | |||||||||||||
Common Stocks** | 102,485,886 | — | — | 102,485,886 | ||||||||||||
Short-Term Securities | 2,134,034 | — | — | 2,134,034 | ||||||||||||
Total: | 104,619,920 | — | — | 104,619,920 |
** 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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