SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2023
Sit Small Cap Growth Fund
Investments are grouped by economic sectors.
Name of Issuer | Quantity | Fair Value ($) | ||||||
Common Stocks - 99.8% | ||||||||
Commercial Services - 5.0% | ||||||||
ASGN, Inc. * | 19,450 | 1,588,676 | ||||||
Booz Allen Hamilton Holding Corp. | 16,900 | 1,846,663 | ||||||
Colliers International Group, Inc. | 11,050 | 1,052,512 | ||||||
FTI Consulting, Inc. * | 3,075 | 548,611 | ||||||
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| |||||||
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5,036,462 |
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Communications - 0.7% | ||||||||
Iridium Communications, Inc. | 16,325 | 742,624 | ||||||
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| |||||||
Consumer Durables - 1.8% | ||||||||
Take-Two Interactive Software, Inc. * | 4,075 | 572,089 | ||||||
YETI Holdings, Inc. * | 25,325 | 1,221,172 | ||||||
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1,793,261 |
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Consumer Non-Durables - 0.9% | ||||||||
Crocs, Inc. * | 10,675 | 941,855 | ||||||
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Consumer Services - 2.4% | ||||||||
Nexstar Media Group, Inc. | 11,400 | 1,634,418 | ||||||
Vail Resorts, Inc. | 3,550 | 787,710 | ||||||
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2,422,128 |
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Electronic Technology - 9.9% | ||||||||
Arista Networks, Inc. * | 14,125 | 2,598,011 | ||||||
Ciena Corp. * | 14,150 | 668,729 | ||||||
Coherent Corp. * | 20,075 | 655,248 | ||||||
Entegris, Inc. | 5,249 | 492,934 | ||||||
MKS Instruments, Inc. | 13,400 | 1,159,636 | ||||||
Monolithic Power Systems, Inc. | 5,675 | 2,621,850 | ||||||
Skyworks Solutions, Inc. | 10,800 | 1,064,772 | ||||||
Stratasys, Ltd. * | 46,175 | 628,442 | ||||||
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9,889,622 |
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Energy Minerals - 5.1% | ||||||||
Northern Oil & Gas, Inc. | 65,575 | 2,638,082 | ||||||
Oasis Petroleum, Inc. | 15,100 | 2,447,257 | ||||||
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5,085,339 |
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Finance - 6.9% | ||||||||
Air Lease Corp. | 33,325 | 1,313,338 | ||||||
Artisan Partners Asset Management, Inc. | 31,825 | 1,190,892 | ||||||
Axis Capital Holdings, Ltd. | 22,975 | 1,295,101 | ||||||
H&E Equipment Services, Inc. | 34,350 | 1,483,576 | ||||||
Hannon Armstrong Sust. Inf. Cap., Inc. | 25,800 | 546,960 | ||||||
Physicians Realty Trust | 32,600 | 397,394 | ||||||
Stifel Financial Corp. | 11,800 | 724,992 | ||||||
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6,952,253 |
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Health Services - 4.9% | ||||||||
Addus HomeCare Corp. * | 18,550 | 1,580,275 | ||||||
Encompass Health Corp. | 19,675 | 1,321,373 | ||||||
Tenet Healthcare Corp. * | 30,700 | 2,022,823 | ||||||
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4,924,471 |
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Health Technology - 11.9% | ||||||||
Align Technology, Inc. * | 2,150 | 656,438 | ||||||
AtriCure, Inc. * | 28,300 | 1,239,540 | ||||||
Bio-Techne Corp. | 14,800 | 1,007,436 | ||||||
Exact Sciences Corp. * | 12,425 | 847,634 | ||||||
Halozyme Therapeutics, Inc. * | 26,450 | 1,010,390 |
Name of Issuer | Quantity | Fair Value ($) | ||||||
Inmode, Ltd. * | 32,900 | 1,002,134 | ||||||
Insulet Corp. * | 3,525 | 562,202 | ||||||
Intellia Therapeutics, Inc. * | 20,750 | 656,115 | ||||||
Lantheus Holdings, Inc. * | 18,750 | 1,302,750 | ||||||
Sarepta Therapeutics, Inc. * | 9,450 | 1,145,529 | ||||||
Seres Therapeutics, Inc. * | 206,150 | 490,637 | ||||||
STERIS, PLC | 6,675 | 1,464,628 | ||||||
Twist Bioscience Corp. * | 12,250 | 248,185 | ||||||
Vericel Corp. * | 8,525 | 285,758 | ||||||
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| 11,919,376
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Industrial Services - 9.1% | ||||||||
EMCOR Group, Inc. | 9,600 | 2,019,744 | ||||||
KBR, Inc. | 43,500 | 2,563,890 | ||||||
MYR Group, Inc. * | 8,675 | 1,169,043 | ||||||
TechnipFMC, PLC | 73,550 | 1,496,007 | ||||||
Waste Connections, Inc. | 14,025 | 1,883,558 | ||||||
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9,132,242 |
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Non-Energy Minerals - 4.3% | ||||||||
AZEK Co., Inc. * | 24,200 | 719,708 | ||||||
Eagle Materials, Inc. | 10,300 | 1,715,156 | ||||||
MP Materials Corp. * | 33,350 | 636,985 | ||||||
Trex Co., Inc. * | 20,825 | 1,283,445 | ||||||
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4,355,294 |
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Process Industries - 3.4% | ||||||||
Avient Corp. | 13,200 | 466,224 | ||||||
Cabot Corp. | 7,700 | 533,379 | ||||||
Olin Corp. | 48,175 | 2,407,786 | ||||||
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3,407,389 |
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Producer Manufacturing - 10.5% | ||||||||
AZZ, Inc. | 22,575 | 1,028,968 | ||||||
Belden, Inc. | 15,850 | 1,530,318 | ||||||
Carlisle Cos., Inc. | 2,200 | 570,372 | ||||||
Crane Co. | 19,075 | 1,694,623 | ||||||
Crane NXT Co. | 19,075 | 1,059,998 | ||||||
Donaldson Co., Inc. | 13,575 | 809,613 | ||||||
Hubbell, Inc. | 4,375 | 1,371,169 | ||||||
Lincoln Electric Holdings, Inc. | 5,400 | 981,666 | ||||||
Regal Rexnord Corp. | 6,755 | 965,154 | ||||||
Zurn Water Solutions Corp. | 19,325 | 541,486 | ||||||
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10,553,367 |
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Retail Trade - 3.8% | ||||||||
Boot Barn Holdings, Inc. * | 17,525 | 1,422,855 | ||||||
Casey’s General Stores, Inc. | 4,300 | 1,167,536 | ||||||
Ulta Beauty, Inc. * | 3,050 | 1,218,322 | ||||||
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3,808,713 |
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Technology Services - 12.4% | ||||||||
Altair Engineering, Inc. * | 25,933 | 1,622,368 | ||||||
ANSYS, Inc. * | 2,950 | 877,772 | ||||||
Aspen Technology, Inc. * | 5,281 | 1,078,697 | ||||||
Euronet Worldwide, Inc. * | 5,050 | 400,869 | ||||||
Globant SA * | 11,350 | 2,245,598 | ||||||
HubSpot, Inc. * | 3,175 | 1,563,688 | ||||||
nCino, Inc. * | 15,975 | 508,005 | ||||||
Paycom Software, Inc. | 6,225 | 1,613,956 | ||||||
PTC, Inc. * | 17,600 | 2,493,568 | ||||||
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12,404,521 |
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SEPTEMBER 30, 2023 | 1 |
SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2023
Sit Small Cap Growth Fund (Continued)
Name of Issuer | Quantity | Fair Value ($) | ||||||
Transportation - 6.3% | ||||||||
Alaska Air Group, Inc. * | 17,675 | 655,389 | ||||||
Golar LNG, Ltd. | 68,100 | 1,652,106 | ||||||
Knight-Swift Transportation Holdings, Inc. | 18,725 | 939,059 | ||||||
Marten Transport, Ltd. | 48,000 | 946,080 | ||||||
TFI International, Inc. | 16,525 | 2,121,975 | ||||||
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6,314,609 |
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Utilities - 0.5% | ||||||||
Chesapeake Utilities Corp. | 4,925 | 481,419 | ||||||
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Total Common Stocks | 100,164,945 | |||||||
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Short-Term Securities - 0.3% | ||||||||
Fidelity Inst. Money Mkt. Gvt. Fund, 5.27% | 349,980 | 349,980 | ||||||
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| |||||||
Total Investments in Securities - 100.1% | 100,514,925 | |||||||
Other Assets and Liabilities, net - (0.1)% | (112,630 | ) | ||||||
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| |||||||
Net Assets - 100.0% | $ | 100,402,295 | ||||||
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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 September 30, 2023 is as follows:
Investment in Securities | ||||||||||||||||
Level 1 Quoted Prices ($) | Level 2 Other significant observable inputs ($) | Level 3 Significant unobservable inputs ($) | Total ($) | |||||||||||||
Common Stocks** | 100,164,945 | — | — | 100,164,945 | ||||||||||||
Short-Term Securities | 349,980 | — | — | 349,980 | ||||||||||||
Total: | 100,514,925 | — | — | 100,514,925 |
** | For equity securities categorized in a single level, refer to the detail above 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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