SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2024
Sit Global Dividend Growth Fund
Investments are grouped by geographic region.
Name of Issuer | Quantity | Fair Value ($) | ||||||
Common Stocks - 98.5% | ||||||||
Asia - 4.2% | ||||||||
Australia - 2.3% | ||||||||
Atlassian Corp. * | 3,445 | 672,154 | ||||||
Macquarie Group, Ltd. | 3,810 | 495,813 | ||||||
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1,167,967 |
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Japan - 1.0% | ||||||||
Recruit Holdings Co., Ltd. | 10,600 | 464,179 | ||||||
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Singapore - 0.9% | ||||||||
Singapore Technologies Engineering, Ltd. | 155,000 | 461,470 | ||||||
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Europe - 33.3% | ||||||||
Denmark - 0.5% | ||||||||
Novo Nordisk A/S, ADR | 1,925 | 247,170 | ||||||
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France - 0.8% | ||||||||
Safran SA, ADR | 7,520 | 426,008 | ||||||
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Germany - 5.5% | ||||||||
Allianz SE, ADR | 34,190 | 1,023,307 | ||||||
Infineon Technologies AG | 6,275 | 213,350 | ||||||
Muenchener Rueckversicherungs AG | 1,470 | 717,307 | ||||||
Siemens AG | 4,250 | 811,381 | ||||||
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2,765,345 |
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Ireland - 4.9% | ||||||||
Accenture, PLC | 3,285 | 1,138,614 | ||||||
Linde, PLC | 1,445 | 670,942 | ||||||
Trane Technologies, PLC | 2,125 | 637,925 | ||||||
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2,447,481 |
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Spain - 1.5% | ||||||||
Iberdrola SA | 59,010 | 731,806 | ||||||
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Switzerland - 6.4% | ||||||||
Chubb, Ltd. | 2,590 | 671,147 | ||||||
Logitech International SA | 4,150 | 370,885 | ||||||
Lonza Group AG | 930 | 557,061 | ||||||
Nestle SA | 5,935 | 630,123 | ||||||
Partners Group Holding AG | 705 | 1,006,864 | ||||||
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3,236,080 |
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United Kingdom - 13.7% | ||||||||
AstraZeneca, PLC, ADR | 15,040 | 1,018,960 | ||||||
BAE Systems, PLC | 63,905 | 1,088,476 | ||||||
Compass Group, PLC | 14,170 | 415,461 | ||||||
Diageo, PLC, ADR | 4,125 | 613,552 | ||||||
Glencore, PLC, ADR | 24,620 | 269,589 | ||||||
London Stock Exchange Group, PLC | 6,715 | 804,310 | ||||||
Man Group, PLC | 216,290 | 729,976 | ||||||
RELX, PLC | 14,120 | 611,619 | ||||||
Shell, PLC, ADR | 20,055 | 1,344,487 | ||||||
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6,896,430 |
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North America - 61.0% | ||||||||
United States - 61.0% | ||||||||
Abbott Laboratories | 7,230 | 821,762 | ||||||
Alphabet, Inc. - Class A * | 8,790 | 1,326,675 | ||||||
Apple, Inc. | 18,220 | 3,124,366 |
Name of Issuer | Quantity | Fair Value ($) | ||||||
Applied Materials, Inc. | 7,985 | 1,646,747 | ||||||
Arthur J Gallagher & Co. | 3,685 | 921,397 | ||||||
Broadcom, Inc. | 1,785 | 2,365,857 | ||||||
Cheniere Energy, Inc. | 2,830 | 456,422 | ||||||
ConocoPhillips | 4,025 | 512,302 | ||||||
Constellation Brands, Inc. | 2,690 | 731,034 | ||||||
FedEx Corp. | 1,900 | 550,506 | ||||||
Gilead Sciences, Inc. | 2,665 | 195,211 | ||||||
Goldman Sachs Group, Inc. | 1,370 | 572,235 | ||||||
Home Depot, Inc. | 2,490 | 955,164 | ||||||
Honeywell International, Inc. | 3,130 | 642,432 | ||||||
Johnson & Johnson | 6,765 | 1,070,155 | ||||||
JPMorgan Chase & Co. | 7,180 | 1,438,154 | ||||||
Lockheed Martin Corp. | 1,525 | 693,677 | ||||||
McDonald’s Corp. | 1,820 | 513,149 | ||||||
Microsoft Corp. | 10,475 | 4,407,042 | ||||||
Mondelez International, Inc. | 6,940 | 485,800 | ||||||
NVIDIA Corp. | 1,150 | 1,039,094 | ||||||
Otis Worldwide Corp. | 3,785 | 375,737 | ||||||
PepsiCo, Inc. | 4,765 | 833,923 | ||||||
Salesforce, Inc. | 705 | 212,332 | ||||||
Sherwin-Williams Co. | 1,835 | 637,351 | ||||||
Thermo Fisher Scientific, Inc. | 1,145 | 665,485 | ||||||
Union Pacific Corp. | 3,960 | 973,883 | ||||||
UnitedHealth Group, Inc. | 1,930 | 954,771 | ||||||
Waste Management, Inc. | 3,480 | 741,762 | ||||||
WEC Energy Group, Inc. | 6,010 | 493,541 | ||||||
Williams Cos., Inc. | 8,500 | 331,245 | ||||||
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30,689,211 |
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Total Common Stocks | 49,533,147 | |||||||
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Short-Term Securities - 1.5% | ||||||||
Fidelity Inst. Money Mkt. Gvt. Fund, 5.25% | 752,254 | 752,254 | ||||||
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| |||||||
Total Investments in Securities - 100.0% | 50,285,401 | |||||||
Other Assets and Liabilities, net - (0.0)% | (10,846) | |||||||
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Net Assets - 100.0% | $50,274,555 | |||||||
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* | Non-income producing security. |
ADR — American Depositary Receipt |
PLC — Public Limited Company |
MARCH 31, 2024 | 1 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2024
Sit Global Dividend Growth Fund (Continued)
Numeric footnotes not disclosed are not applicable to this Schedule of Investments.
Portfolio Structure - By Sector | (% of Total Net Assets) | |||
Electronic Technology | 17.4% | |||
Finance | 16.7 | |||
Technology Services | 16.4 | |||
Producer Manufacturing | 10.2 | |||
Health Technology | 9.1 | |||
Consumer Non-Durables | 6.6 | |||
Energy Minerals | 3.7 | |||
Consumer Services | 3.1 | |||
Industrial Services | 3.0 | |||
Transportation | 3.0 | |||
Process Industries | 2.6 | |||
Utilities | 2.4 | |||
Retail Trade | 1.9 | |||
Health Services | 1.9 | |||
Non-Energy Minerals | 0.5 | |||
Short-Term Securities | 1.5 | |||
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| |||
|
100.0 |
| ||
Other Assets and Liabilities, net | (0.0) | |||
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| |||
|
100.0% |
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A summary of the levels for the Fund’s investments as of March 31, 2024 is as follows:
Investment in Securities | ||||||||||||||||
Level 1 |
Level 2 | Level 3 | ||||||||||||||
Quoted Prices ($) | Other significant observable inputs ($) | Significant unobservable inputs ($) | Total ($) | |||||||||||||
Common Stocks | ||||||||||||||||
Australia | 1,167,967 | — | — | 1,167,967 | ||||||||||||
Denmark | 247,170 | — | — | 247,170 | ||||||||||||
France | 426,008 | — | — | 426,008 | ||||||||||||
Germany | 2,765,345 | — | — | 2,765,345 | ||||||||||||
Ireland | 2,447,481 | — | — | 2,447,481 | ||||||||||||
Japan | 464,179 | — | — | 464,179 | ||||||||||||
Singapore | 461,470 | — | — | 461,470 | ||||||||||||
Spain | 731,806 | — | — | 731,806 | ||||||||||||
Switzerland | 3,236,080 | — | — | 3,236,080 | ||||||||||||
United Kingdom | 6,896,430 | — | — | 6,896,430 | ||||||||||||
United States | 30,689,211 | — | — | 30,689,211 | ||||||||||||
Short-Term Securities | 752,254 | — | — | 752,254 | ||||||||||||
Total: | 50,285,401 | — | — | 50,285,401 |
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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