SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2023
Sit Dividend Growth Fund
Investments are grouped by economic sectors.
Name of Issuer | Quantity | Fair Value ($) | ||||||
Common Stocks - 99.4% | ||||||||
Commercial Services - 2.9% | ||||||||
Booz Allen Hamilton Holding Corp. | 19,720 | 2,154,804 | ||||||
S&P Global, Inc. | 5,750 | 2,101,108 | ||||||
Sysco Corp. | 28,825 | 1,903,891 | ||||||
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6,159,803 |
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Communications - 0.7% | ||||||||
American Tower Corp. | 9,200 | 1,512,940 | ||||||
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Consumer Durables - 0.5% | ||||||||
Activision Blizzard, Inc. | 11,395 | 1,066,914 | ||||||
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Consumer Non-Durables - 5.5% | ||||||||
Constellation Brands, Inc. | 7,925 | 1,991,790 | ||||||
Mondelez International, Inc. | 45,575 | 3,162,905 | ||||||
PepsiCo, Inc. | 21,220 | 3,595,517 | ||||||
Procter & Gamble Co. | 21,375 | 3,117,758 | ||||||
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11,867,970 |
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Consumer Services - 3.2% | ||||||||
McDonald’s Corp. | 9,025 | 2,377,546 | ||||||
Starbucks Corp. | 18,475 | 1,686,213 | ||||||
Visa, Inc. | 12,385 | 2,848,674 | ||||||
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6,912,433 |
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Electronic Technology - 17.0% | ||||||||
Analog Devices, Inc. | 12,810 | 2,242,903 | ||||||
Apple, Inc. | 74,715 | 12,791,955 | ||||||
Applied Materials, Inc. | 24,125 | 3,340,106 | ||||||
Broadcom, Inc. | 8,345 | 6,931,190 | ||||||
Cisco Systems, Inc. | 10,050 | 540,288 | ||||||
Garmin, Ltd. | 19,575 | 2,059,290 | ||||||
International Business Machines Corp. | 14,825 | 2,079,947 | ||||||
NVIDIA Corp. | 4,875 | 2,120,576 | ||||||
Skyworks Solutions, Inc. | 19,125 | 1,885,534 | ||||||
TE Connectivity, Ltd. | 20,550 | 2,538,542 | ||||||
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36,530,331 |
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Energy Minerals - 4.8% | ||||||||
ConocoPhillips | 39,850 | 4,774,030 | ||||||
Exxon Mobil Corp. | 46,450 | 5,461,591 | ||||||
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10,235,621 |
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Finance - 13.7% | ||||||||
Air Lease Corp. | 36,025 | 1,419,745 | ||||||
American International Group, Inc. | 46,075 | 2,792,145 | ||||||
Ameriprise Financial, Inc. | 5,610 | 1,849,505 | ||||||
Bank of New York Mellon Corp. | 43,025 | 1,835,016 | ||||||
Carlyle Group, Inc. | 43,725 | 1,318,746 | ||||||
Chubb, Ltd. | 10,350 | 2,154,663 | ||||||
Everest Group, Ltd. | 7,175 | 2,666,732 | ||||||
Goldman Sachs Group, Inc. | 3,775 | 1,221,477 | ||||||
Intercontinental Exchange, Inc. | 24,425 | 2,687,239 | ||||||
JPMorgan Chase & Co. | 22,975 | 3,331,834 | ||||||
Morgan Stanley | 24,700 | 2,017,249 | ||||||
Realty Income Corp. | 65,825 | 3,287,301 | ||||||
Reinsurance Group of America, Inc. | 19,410 | 2,818,138 | ||||||
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29,399,790 |
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Health Services - 5.0% | ||||||||
HCA Healthcare, Inc. | 6,860 | 1,687,423 |
Name of Issuer | Quantity | Fair Value ($) | ||||||
Quest Diagnostics, Inc. | 24,350 | 2,967,291 | ||||||
UnitedHealth Group, Inc. | 11,985 | 6,042,717 | ||||||
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10,697,431 |
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Health Technology - 11.7% | ||||||||
Abbott Laboratories | 32,125 | 3,111,306 | ||||||
AstraZeneca, PLC, ADR | 53,175 | 3,601,011 | ||||||
Bristol-Myers Squibb Co. | 37,225 | 2,160,539 | ||||||
Gilead Sciences, Inc. | 38,900 | 2,915,166 | ||||||
Johnson & Johnson | 32,925 | 5,128,069 | ||||||
Medtronic, PLC | 31,650 | 2,480,094 | ||||||
Thermo Fisher Scientific, Inc. | 6,025 | 3,049,674 | ||||||
Zimmer Biomet Holdings, Inc. | 24,275 | 2,724,141 | ||||||
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25,170,000 |
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Industrial Services - 2.2% | ||||||||
Waste Management, Inc. | 17,350 | 2,644,834 | ||||||
Williams Cos., Inc. | 60,770 | 2,047,341 | ||||||
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4,692,175 |
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Non-Energy Minerals - 0.5% | ||||||||
Glencore, PLC, ADR | 103,310 | 1,177,734 | ||||||
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Process Industries - 1.4% | ||||||||
Air Products & Chemicals, Inc. | 10,850 | 3,074,890 | ||||||
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Producer Manufacturing - 6.9% | ||||||||
Eaton Corp., PLC | 10,925 | 2,330,084 | ||||||
Emerson Electric Co. | 22,425 | 2,165,582 | ||||||
General Dynamics Corp. | 12,500 | 2,762,125 | ||||||
Honeywell International, Inc. | 12,625 | 2,332,343 | ||||||
Lockheed Martin Corp. | 5,075 | 2,075,472 | ||||||
Parker-Hannifin Corp. | 4,510 | 1,756,735 | ||||||
Siemens AG, ADR | 20,300 | 1,450,435 | ||||||
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14,872,776 |
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Retail Trade - 2.3% | ||||||||
Home Depot, Inc. | 6,660 | 2,012,386 | ||||||
TJX Cos., Inc. | 31,775 | 2,824,162 | ||||||
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4,836,548 |
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Technology Services - 15.1% | ||||||||
Accenture, PLC | 10,800 | 3,316,788 | ||||||
Adobe, Inc. * | 5,380 | 2,743,262 | ||||||
Alphabet, Inc. - Class A * | 30,990 | 4,055,351 | ||||||
Genpact, Ltd. | 30,960 | 1,120,752 | ||||||
Intuit, Inc. | 5,200 | 2,656,888 | ||||||
Microsoft Corp. | 45,825 | 14,469,244 | ||||||
Oracle Corp. | 39,490 | 4,182,781 | ||||||
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32,545,066 |
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Transportation - 2.9% | ||||||||
FedEx Corp. | 13,010 | 3,446,609 | ||||||
Union Pacific Corp. | 13,310 | 2,710,315 | ||||||
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6,156,924 |
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Utilities - 3.1% | ||||||||
DTE Energy Co. | 24,850 | 2,467,108 | ||||||
NextEra Energy, Inc. | 11,553 | 661,871 | ||||||
NiSource, Inc. | 27,850 | 687,338 |
SEPTEMBER 30, 2023 | 1 |
SCHEDULE OF INVESTMENTS (Unaudited)
September 30, 2023
Sit Dividend Growth Fund (Continued)
Name of Issuer | Quantity | Fair Value ($) | ||||||
PPL Corp. | 124,250 | 2,927,330 | ||||||
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6,743,647 |
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Total Common Stocks | 213,652,993 | |||||||
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Short-Term Securities - 0.6% | ||||||||
Fidelity Inst. Money Mkt. Gvt. Fund, 5.27% | 1,333,778 | 1,333,778 | ||||||
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Total Investments in Securities - 100.0% | 214,986,771 | |||||||
Other Assets and Liabilities, net - (0.0)% | (28,617 | ) | ||||||
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Net Assets - 100.0% | $ | 214,958,154 | ||||||
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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 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** | 213,652,993 | — | — | 213,652,993 | ||||||||||||
Short-Term Securities | 1,333,778 | — | — | 1,333,778 | ||||||||||||
Total: | 214,986,771 | — | — | 214,986,771 |
** | 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.
2 |