SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2024
Sit Dividend Growth Fund
Investments are grouped by economic sectors.
Name of Issuer | Quantity | Fair Value ($) | ||||||
Common Stocks - 98.9% | ||||||||
Commercial Services - 2.7% | ||||||||
Booz Allen Hamilton Holding Corp. | 14,900 | 2,211,756 | ||||||
S&P Global, Inc. | 6,335 | 2,695,226 | ||||||
Sysco Corp. | 18,800 | 1,526,184 | ||||||
|
| |||||||
|
6,433,166 |
| ||||||
|
| |||||||
Communications - 1.1% | ||||||||
Verizon Communications, Inc. | 60,375 | 2,533,335 | ||||||
|
| |||||||
Consumer Non-Durables - 5.0% | ||||||||
Mondelez International, Inc. | 34,675 | 2,427,250 | ||||||
NIKE, Inc. | 21,350 | 2,006,473 | ||||||
PepsiCo, Inc. | 21,750 | 3,806,467 | ||||||
Procter & Gamble Co. | 22,475 | 3,646,569 | ||||||
|
| |||||||
|
11,886,759 |
| ||||||
|
| |||||||
Consumer Services - 2.8% | ||||||||
McDonald’s Corp. | 8,300 | 2,340,185 | ||||||
Starbucks Corp. | 13,075 | 1,194,924 | ||||||
Visa, Inc. | 11,335 | 3,163,372 | ||||||
|
| |||||||
|
6,698,481 |
| ||||||
|
| |||||||
Electronic Technology - 17.7% | ||||||||
Analog Devices, Inc. | 6,200 | 1,226,298 | ||||||
Apple, Inc. | 64,675 | 11,090,469 | ||||||
Applied Materials, Inc. | 19,050 | 3,928,681 | ||||||
Broadcom, Inc. | 6,475 | 8,582,030 | ||||||
Cisco Systems, Inc. | 27,975 | 1,396,232 | ||||||
Dell Technologies, Inc. | 17,325 | 1,976,956 | ||||||
Garmin, Ltd. | 16,225 | 2,415,416 | ||||||
International Business Machines Corp. | 14,400 | 2,749,824 | ||||||
NVIDIA Corp. | 6,370 | 5,755,677 | ||||||
TE Connectivity, Ltd. | 22,375 | 3,249,745 | ||||||
|
| |||||||
|
42,371,328 |
| ||||||
|
| |||||||
Energy Minerals - 4.3% | ||||||||
ConocoPhillips | 33,175 | 4,222,514 | ||||||
Exxon Mobil Corp. | 53,100 | 6,172,344 | ||||||
|
| |||||||
|
10,394,858 |
| ||||||
|
| |||||||
Finance - 14.3% | ||||||||
Air Lease Corp. | 31,900 | 1,640,936 | ||||||
American International Group, Inc. | 33,300 | 2,603,061 | ||||||
Ameriprise Financial, Inc. | 4,370 | 1,915,983 | ||||||
Axis Capital Holdings, Ltd. | 24,800 | 1,612,496 | ||||||
Bank of New York Mellon Corp. | 50,650 | 2,918,453 | ||||||
Carlyle Group, Inc. | 42,100 | 1,974,911 | ||||||
Citigroup, Inc. | 40,725 | 2,575,449 | ||||||
Everest Group, Ltd. | 6,065 | 2,410,837 | ||||||
Goldman Sachs Group, Inc. | 5,150 | 2,151,103 | ||||||
Intercontinental Exchange, Inc. | 19,475 | 2,676,449 | ||||||
Invitation Homes, Inc. | 35,300 | 1,257,033 | ||||||
JPMorgan Chase & Co. | 21,825 | 4,371,548 | ||||||
Realty Income Corp. | 53,528 | 2,895,865 | ||||||
Reinsurance Group of America, Inc. | 16,900 | 3,259,672 | ||||||
|
| |||||||
|
34,263,796 |
| ||||||
|
| |||||||
Health Services - 5.2% | ||||||||
Cardinal Health, Inc. | 20,975 | 2,347,103 | ||||||
HCA Healthcare, Inc. | 4,975 | 1,659,312 | ||||||
Quest Diagnostics, Inc. | 19,775 | 2,632,250 |
Name of Issuer | Quantity | Fair Value ($) | ||||||
UnitedHealth Group, Inc. | 11,640 | 5,758,308 | ||||||
|
| |||||||
|
12,396,973 |
| ||||||
|
| |||||||
Health Technology - 9.3% | ||||||||
Abbott Laboratories | 25,550 | 2,904,013 | ||||||
AbbVie, Inc. | 16,700 | 3,041,070 | ||||||
AstraZeneca, PLC, ADR | 47,975 | 3,250,306 | ||||||
Gilead Sciences, Inc. | 32,450 | 2,376,962 | ||||||
Johnson & Johnson | 24,600 | 3,891,474 | ||||||
Medtronic, PLC | 25,350 | 2,209,253 | ||||||
Novo Nordisk A/S, ADR | 12,650 | 1,624,260 | ||||||
Zimmer Biomet Holdings, Inc. | 23,150 | 3,055,337 | ||||||
|
| |||||||
|
22,352,675 |
| ||||||
|
| |||||||
Industrial Services - 2.1% | ||||||||
Waste Management, Inc. | 11,575 | 2,467,211 | ||||||
Williams Cos., Inc. | 68,265 | 2,660,287 | ||||||
|
| |||||||
|
5,127,498 |
| ||||||
|
| |||||||
Process Industries - 0.9% | ||||||||
PPG Industries, Inc. | 14,950 | 2,166,255 | ||||||
|
| |||||||
Producer Manufacturing - 7.1% | ||||||||
Eaton Corp., PLC | 8,775 | 2,743,767 | ||||||
Emerson Electric Co. | 28,150 | 3,192,773 | ||||||
General Dynamics Corp. | 11,025 | 3,114,452 | ||||||
Honeywell International, Inc. | 12,475 | 2,560,494 | ||||||
L3Harris Technologies, Inc. | 8,075 | 1,720,783 | ||||||
Parker-Hannifin Corp. | 3,635 | 2,020,297 | ||||||
Siemens AG, ADR | 18,450 | 1,760,683 | ||||||
|
| |||||||
|
17,113,249 |
| ||||||
|
| |||||||
Retail Trade - 4.2% | ||||||||
Amazon.com, Inc. * | 16,275 | 2,935,685 | ||||||
Home Depot, Inc. | 7,660 | 2,938,376 | ||||||
Target Corp. | 6,650 | 1,178,446 | ||||||
TJX Cos., Inc. | 28,710 | 2,911,768 | ||||||
|
| |||||||
|
9,964,275 |
| ||||||
|
| |||||||
Technology Services - 15.4% | ||||||||
Accenture, PLC | 10,550 | 3,656,736 | ||||||
Adobe, Inc. * | 5,400 | 2,724,840 | ||||||
Alphabet, Inc. - Class A * | 25,500 | 3,848,715 | ||||||
Intuit, Inc. | 4,370 | 2,840,500 | ||||||
Meta Platforms, Inc. | 5,125 | 2,488,597 | ||||||
Microsoft Corp. | 42,950 | 18,069,924 | ||||||
Oracle Corp. | 25,500 | 3,203,055 | ||||||
|
| |||||||
|
36,832,367 |
| ||||||
|
| |||||||
Transportation - 3.2% | ||||||||
FedEx Corp. | 11,325 | 3,281,306 | ||||||
TFI International, Inc. | 9,950 | 1,586,627 | ||||||
Union Pacific Corp. | 11,500 | 2,828,195 | ||||||
|
| |||||||
|
7,696,128 |
| ||||||
|
| |||||||
Utilities - 3.6% | ||||||||
DTE Energy Co. | 23,700 | 2,657,718 | ||||||
NiSource, Inc. | 106,575 | 2,947,864 |
MARCH 31, 2024 | 1 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2024
Sit Dividend Growth Fund (Continued)
Name of Issuer | Quantity | Fair Value ($) | ||||||
PPL Corp. | 105,950 | 2,916,804 | ||||||
|
| |||||||
|
8,522,386 |
| ||||||
|
| |||||||
Total Common Stocks | 236,753,529 | |||||||
|
| |||||||
Short-Term Securities - 0.9% | ||||||||
Fidelity Inst. Money Mkt. Gvt. Fund, 5.25% | 2,066,184 | 2,066,184 | ||||||
|
| |||||||
Total Investments in Securities - 99.8% | 238,819,713 | |||||||
Other Assets and Liabilities, net - 0.2% | 469,089 | |||||||
|
| |||||||
Net Assets - 100.0% | $239,288,802 | |||||||
|
|
* | Non-income producing security. |
ADR — American Depositary Receipt |
PLC — Public Limited Company |
Numeric footnotes not disclosed are not applicable to this Schedule of Investments.
A summary of the levels for the Fund’s investments as of March 31, 2024 is as follows:
Investment in Securities | ||||||||||||||||
Level 1 |
Level 2 |
Level 3 | ||||||||||||||
Quoted Prices ($) | Other significant observable inputs ($) | Significant unobservable inputs ($) | Total ($) | |||||||||||||
Common Stocks** | 236,753,529 | — | — | 236,753,529 | ||||||||||||
Short-Term Securities | 2,066,184 | — | — | 2,066,184 | ||||||||||||
Total: | 238,819,713 | — | — | 238,819,713 |
** | 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 |