SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2023
Sit ESG Growth Fund
Investments are grouped by geographic region.
Name of Issuer | Quantity | Fair Value ($) | ||||||
Common Stocks - 97.3% | ||||||||
Asia - 6.8% | ||||||||
Japan - 5.6% | ||||||||
Astellas Pharma, Inc. | 6,400 | 88,822 | ||||||
Keyence Corp. | 200 | 74,277 | ||||||
Recruit Holdings Co., Ltd. | 3,100 | 95,610 | ||||||
Sony Group Corp., ADR | 1,925 | 158,639 | ||||||
Terumo Corp. | 2,600 | 68,950 | ||||||
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486,298 |
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Singapore - 1.2% | ||||||||
Singapore Technologies Engineering, Ltd. | 37,400 | 106,974 | ||||||
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Europe - 36.7% | ||||||||
France - 1.8% | ||||||||
Forvia SE * | 2,358 | 48,887 | ||||||
Safran SA, ADR | 2,750 | 107,635 | ||||||
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156,522 |
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Germany - 6.2% | ||||||||
Allianz SE, ADR | 8,800 | 209,264 | ||||||
Deutsche Post AG | 1,550 | 63,149 | ||||||
Infineon Technologies AG | 1,225 | 40,609 | ||||||
Muenchener Rueckversicherungs AG | 275 | 107,313 | ||||||
Siemens AG, ADR | 1,775 | 126,824 | ||||||
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547,159 |
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Ireland - 6.1% | ||||||||
Accenture, PLC | 750 | 230,333 | ||||||
CRH, PLC | 1,200 | 65,676 | ||||||
Medtronic, PLC | 725 | 56,811 | ||||||
Trane Technologies, PLC | 875 | 177,546 | ||||||
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530,366 |
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Netherlands - 0.4% | ||||||||
ASML Holding NV | 65 | 38,263 | ||||||
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Spain - 2.1% | ||||||||
Iberdrola SA, ADR | 4,050 | 181,197 | ||||||
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Switzerland - 4.9% | ||||||||
Chubb, Ltd. | 250 | 52,045 | ||||||
Logitech International SA | 1,550 | 106,857 | ||||||
Lonza Group AG | 185 | 86,017 | ||||||
Nestle SA, ADR | 1,200 | 135,804 | ||||||
Novartis AG, ADR | 450 | 45,837 | ||||||
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426,560 |
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United Kingdom - 15.2% | ||||||||
AstraZeneca, PLC, ADR | 3,625 | 245,485 | ||||||
BAE Systems, PLC, ADR | 3,500 | 173,075 | ||||||
Coca-Cola Europacific Partners, PLC | 2,100 | 131,208 | ||||||
Compass Group, PLC | 3,600 | 87,847 | ||||||
Diageo, PLC, ADR | 785 | 117,106 | ||||||
Entain, PLC | 6,900 | 78,530 | ||||||
Man Group, PLC | 55,725 | 151,958 | ||||||
RELX, PLC, ADR | 4,700 | 158,390 | ||||||
Rentokil Initial, PLC, ADR | 2,375 | 87,994 | ||||||
Smith & Nephew, PLC | 8,050 | 100,477 | ||||||
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1,332,070 |
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Name of Issuer | Quantity | Fair Value ($) | ||||||
North America - 53.8% | ||||||||
United States - 53.8% | ||||||||
Adobe, Inc. * | 450 | 229,455 | ||||||
AES Corp. | 3,025 | 45,980 | ||||||
Alphabet, Inc. - Class A * | 2,500 | 327,150 | ||||||
Apple, Inc. | 3,600 | 616,356 | ||||||
Broadcom, Inc. | 125 | 103,823 | ||||||
Cheniere Energy, Inc. | 775 | 128,619 | ||||||
Dexcom, Inc. * | 1,080 | 100,764 | ||||||
Ecolab, Inc. | 325 | 55,055 | ||||||
FedEx Corp. | 375 | 99,345 | ||||||
Goldman Sachs Group, Inc. | 600 | 194,142 | ||||||
Home Depot, Inc. | 745 | 225,109 | ||||||
Johnson & Johnson | 1,175 | 183,006 | ||||||
JPMorgan Chase & Co. | 1,075 | 155,897 | ||||||
Lockheed Martin Corp. | 275 | 112,464 | ||||||
Microsoft Corp. | 2,000 | 631,500 | ||||||
NIKE, Inc. | 850 | 81,277 | ||||||
NVIDIA Corp. | 1,000 | 434,990 | ||||||
PepsiCo, Inc. | 875 | 148,260 | ||||||
salesforce.com, Inc. * | 850 | 172,363 | ||||||
Starbucks Corp. | 1,000 | 91,270 | ||||||
T Rowe Price Group, Inc. | 475 | 49,813 | ||||||
TJX Cos., Inc. | 1,380 | 122,654 | ||||||
UnitedHealth Group, Inc. | 500 | 252,095 | ||||||
Visa, Inc. | 475 | 109,255 | ||||||
Williams Cos., Inc. | 900 | 30,321 | ||||||
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4,700,963 |
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Total Common Stocks | 8,506,372 | |||||||
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Short-Term Securities - 3.1% | ||||||||
Fidelity Inst. Money Mkt. Gvt. Fund, 5.27% | 269,556 | 269,556 | ||||||
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Total Investments in Securities - 100.4% | 8,775,928 | |||||||
Other Assets and Liabilities, net - (0.4)% | (37,926 | ) | ||||||
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Net Assets - 100.0% | $ | 8,738,002 | ||||||
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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.
SEPTEMBER 30, 2023 | 1 |
SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2023
Sit ESG Growth Fund (Continued)
Portfolio Structure - By Sector | (% of Total Net Assets) | |||||||
Technology Services | 19.3% | |||||||
Electronic Technology | 16.2 | |||||||
Health Technology | 11.2 | |||||||
Finance | 10.5 | |||||||
Producer Manufacturing | 9.8 | |||||||
Consumer Non-Durables | 7.0 | |||||||
Consumer Services | 6.0 | |||||||
Retail Trade | 4.0 | |||||||
Health Services | 2.9 | |||||||
Utilities | 2.6 | |||||||
Transportation | 1.9 | |||||||
Industrial Services | 1.8 | |||||||
Consumer Durables | 1.8 | |||||||
Commercial Services | 1.0 | |||||||
Non-Energy Minerals | 0.7 | |||||||
Process Industries | 0.6 | |||||||
Short-Term Securities | 3.1 | |||||||
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100.4 | ||||||||
Other Assets and Liabilities, net | (0.4) | |||||||
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100.0% | ||||||||
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A summary of the levels for the Fund’s investments as of September 30, 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 | ||||||||||||||||
France | 156,522 | — | — | 156,522 | ||||||||||||
Germany | 547,159 | — | — | 547,159 | ||||||||||||
Ireland | 530,366 | — | — | 530,366 | ||||||||||||
Japan | 486,298 | — | — | 486,298 | ||||||||||||
Netherlands | 38,263 | — | — | 38,263 | ||||||||||||
Singapore | 106,974 | — | — | 106,974 | ||||||||||||
Spain | 181,197 | — | — | 181,197 | ||||||||||||
Switzerland | 426,560 | — | — | 426,560 | ||||||||||||
United Kingdom | 1,332,070 | — | — | 1,332,070 | ||||||||||||
United States | 4,700,963 | — | — | 4,700,963 | ||||||||||||
Short-Term Securities | 269,556 | — | — | 269,556 | ||||||||||||
Total: | 8,775,928 | — | — | 8,775,928 |
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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