SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2023
Sit Dividend Growth Fund
Investments are grouped by economic sectors.
Name of Issuer | Quantity | Fair Value ($) | ||||||
Common Stocks - 98.8% | ||||||||
Commercial Services - 2.4% | ||||||||
Booz Allen Hamilton Holding Corp. | 21,400 | 1,983,566 | ||||||
S&P Global, Inc. | 1,850 | 637,824 | ||||||
Sysco Corp. | 35,050 | 2,706,912 | ||||||
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5,328,302 |
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Communications - 1.0% | ||||||||
American Tower Corp. | 11,200 | 2,288,608 | ||||||
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Consumer Durables - 0.6% | ||||||||
Activision Blizzard, Inc. | 15,450 | 1,322,365 | ||||||
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Consumer Non-Durables - 6.4% | ||||||||
Conagra Brands, Inc. | 39,900 | 1,498,644 | ||||||
Constellation Brands, Inc. | 7,225 | 1,632,055 | ||||||
Mondelez International, Inc. | 47,650 | 3,322,158 | ||||||
PepsiCo, Inc. | 23,120 | 4,214,776 | ||||||
Procter & Gamble Co. | 23,750 | 3,531,388 | ||||||
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14,199,021 |
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Consumer Services - 3.3% | ||||||||
McDonald’s Corp. | 8,350 | 2,334,743 | ||||||
Starbucks Corp. | 17,975 | 1,871,737 | ||||||
Visa, Inc. | 13,750 | 3,100,075 | ||||||
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7,306,555 |
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Electronic Technology - 16.3% | ||||||||
Analog Devices, Inc. | 19,725 | 3,890,165 | ||||||
Apple, Inc. | 79,025 | 13,031,222 | ||||||
Applied Materials, Inc. | 22,275 | 2,736,038 | ||||||
Broadcom, Inc. | 9,600 | 6,158,784 | ||||||
Garmin, Ltd. | 17,575 | 1,773,669 | ||||||
International Business Machines Corp. | 16,850 | 2,208,866 | ||||||
Qualcomm, Inc. | 8,775 | 1,119,515 | ||||||
Skyworks Solutions, Inc. | 20,709 | 2,443,248 | ||||||
TE Connectivity, Ltd. | 21,100 | 2,767,265 | ||||||
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36,128,772 |
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Energy Minerals - 4.0% | ||||||||
ConocoPhillips | 44,675 | 4,432,207 | ||||||
Exxon Mobil Corp. | 39,950 | 4,380,917 | ||||||
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8,813,124 |
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Finance - 13.4% | ||||||||
Air Lease Corp. | 30,925 | 1,217,517 | ||||||
Alexandria Real Estate Equities, Inc. | 12,825 | 1,610,692 | ||||||
American International Group, Inc. | 30,650 | 1,543,534 | ||||||
Ameriprise Financial, Inc. | 8,050 | 2,467,325 | ||||||
Bank of New York Mellon Corp. | 67,750 | 3,078,560 | ||||||
Carlyle Group, Inc. | 59,850 | 1,858,941 | ||||||
Chubb, Ltd. | 8,175 | 1,587,421 | ||||||
Everest Re Group, Ltd. | 7,825 | 2,801,506 | ||||||
Goldman Sachs Group, Inc. | 5,075 | 1,660,083 | ||||||
Morgan Stanley | 22,825 | 2,004,035 | ||||||
Realty Income Corp. | 55,500 | 3,514,260 | ||||||
Reinsurance Group of America, Inc. | 19,250 | 2,555,630 | ||||||
Wells Fargo & Co. | 37,625 | 1,406,423 | ||||||
Willis Towers Watson, PLC | 10,075 | 2,341,229 | ||||||
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29,647,156 |
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Name of Issuer | Quantity | Fair Value ($) | ||||||
Health Services - 4.1% | ||||||||
HCA Healthcare, Inc. | 6,975 | 1,839,168 | ||||||
Quest Diagnostics, Inc. | 19,300 | 2,730,564 | ||||||
UnitedHealth Group, Inc. | 9,550 | 4,513,234 | ||||||
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9,082,966 |
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Health Technology - 12.6% | ||||||||
Abbott Laboratories | 32,825 | 3,323,860 | ||||||
Agilent Technologies, Inc. | 14,325 | 1,981,721 | ||||||
AstraZeneca, PLC, ADR | 53,725 | 3,729,052 | ||||||
Bristol-Myers Squibb Co. | 43,640 | 3,024,688 | ||||||
Gilead Sciences, Inc. | 38,000 | 3,152,860 | ||||||
Johnson & Johnson | 36,250 | 5,618,750 | ||||||
Medtronic, PLC | 28,575 | 2,303,716 | ||||||
Pfizer, Inc. | 54,600 | 2,227,680 | ||||||
Thermo Fisher Scientific, Inc. | 4,370 | 2,518,737 | ||||||
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27,881,064 |
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Industrial Services - 2.1% | ||||||||
Waste Management, Inc. | 15,200 | 2,480,184 | ||||||
Williams Cos., Inc. | 72,270 | 2,157,982 | ||||||
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4,638,166 |
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Non-Energy Minerals - 0.6% | ||||||||
Glencore, PLC, ADR | 119,875 | 1,371,370 | ||||||
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Process Industries - 2.2% | ||||||||
Air Products & Chemicals, Inc. | 11,700 | 3,360,357 | ||||||
Nutrien, Ltd. | 20,750 | 1,532,388 | ||||||
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4,892,745 |
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Producer Manufacturing - 6.4% | ||||||||
Carlisle Cos, Inc. | 8,400 | 1,898,988 | ||||||
Eaton Corp., PLC | 15,050 | 2,578,667 | ||||||
General Dynamics Corp. | 15,525 | 3,542,960 | ||||||
Honeywell International, Inc. | 9,550 | 1,825,196 | ||||||
Parker-Hannifin Corp. | 5,150 | 1,730,966 | ||||||
Siemens AG, ADR | 30,325 | 2,454,809 | ||||||
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14,031,586 |
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Retail Trade - 3.1% | ||||||||
CVS Health Corp. | 25,590 | 1,901,593 | ||||||
Home Depot, Inc. | 6,775 | 1,999,438 | ||||||
TJX Cos., Inc. | 35,950 | 2,817,042 | ||||||
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6,718,073 |
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Technology Services - 13.2% | ||||||||
Accenture, PLC | 11,700 | 3,343,977 | ||||||
Alphabet, Inc. - Class A * | 33,250 | 3,449,023 | ||||||
Genpact, Ltd. | 56,900 | 2,629,918 | ||||||
Intuit, Inc. | 5,390 | 2,403,024 | ||||||
Microsoft Corp. | 46,625 | 13,441,987 | ||||||
Oracle Corp. | 42,100 | 3,911,932 | ||||||
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29,179,861 |
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Transportation - 2.4% | ||||||||
FedEx Corp. | 11,200 | 2,559,088 | ||||||
Union Pacific Corp. | 13,975 | 2,812,609 | ||||||
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5,371,697 |
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Utilities - 4.7% | ||||||||
AES Corp. | 64,975 | 1,564,598 |
MARCH 31, 2023 | 1 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2023
Sit Dividend Growth Fund (Continued)
Name of Issuer | Quantity | Fair Value ($) | ||||||
Entergy Corp. | 28,700 | 3,092,138 | ||||||
NextEra Energy, Inc. | 30,625 | 2,360,575 | ||||||
Xcel Energy, Inc. | 49,825 | 3,360,198 | ||||||
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10,377,509 |
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Total Common Stocks | 218,578,940 | |||||||
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Short-Term Securities - 0.9% | ||||||||
Fidelity Inst. Money Mkt. Gvt. Fund, 4.72% | 2,078,399 | 2,078,399 | ||||||
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Total Investments in Securities - 99.7% | 220,657,339 | |||||||
Other Assets and Liabilities, net - 0.3% | 657,636 | |||||||
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Net Assets - 100.0% | $221,314,975 | |||||||
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* | Non-income producing security. |
ADR — American Depositary Receipt |
PLC — Public Limited Company |
Numeric footnotes not disclosed are not applicable to this Schedule of Investments.
A summary of the levels for the Fund’s investments as of March 31, 2023 is as follows:
Investment in Securities | ||||||||||||||||
Level 1 |
Level 2 |
Level 3 | ||||||||||||||
Quoted Prices ($) | Other significant observable inputs ($) | Significant unobservable inputs ($) | Total ($) | |||||||||||||
Common Stocks** | 218,578,940 | — | — | 218,578,940 | ||||||||||||
Short-Term Securities | 2,078,399 | — | — | 2,078,399 | ||||||||||||
Total: | 220,657,339 | — | — | 220,657,339 |
** | 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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