SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2024
Sit Small Cap Dividend Growth Fund
Investments are grouped by economic sectors.
Name of Issuer | Quantity | Fair Value ($) | ||||||
Common Stocks - 91.1% | ||||||||
Commercial Services - 4.1% | ||||||||
Booz Allen Hamilton Holding Corp. | 2,700 | 400,788 | ||||||
Brink’s Co. | 1,825 | 168,593 | ||||||
Colliers International Group, Inc. | 3,600 | 440,028 | ||||||
FTI Consulting, Inc. * | 1,000 | 210,290 | ||||||
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| |||||||
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1,219,699 |
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| |||||||
Communications - 0.6% | ||||||||
Iridium Communications, Inc. | 7,050 | 184,428 | ||||||
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| |||||||
Consumer Durables - 1.5% | ||||||||
Century Communities, Inc. | 2,175 | 209,888 | ||||||
National Presto Industries, Inc. | 750 | 62,850 | ||||||
YETI Holdings, Inc. * | 4,075 | 157,091 | ||||||
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| |||||||
|
429,829 |
| ||||||
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| |||||||
Consumer Non-Durables - 1.6% | ||||||||
Crocs, Inc. * | 2,050 | 294,790 | ||||||
Sensient Technologies Corp. | 2,450 | 169,516 | ||||||
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| |||||||
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464,306 |
| ||||||
|
| |||||||
Consumer Services - 2.4% | ||||||||
Nexstar Media Group, Inc. | 2,650 | 456,569 | ||||||
Vail Resorts, Inc. | 1,100 | 245,113 | ||||||
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| |||||||
|
701,682 |
| ||||||
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Electronic Technology - 5.7% | ||||||||
Coherent Corp. * | 2,450 | 148,519 | ||||||
Entegris, Inc. | 991 | 139,275 | ||||||
MKS Instruments, Inc. | 3,275 | 435,575 | ||||||
Monolithic Power Systems, Inc. | 1,050 | 711,291 | ||||||
Power Integrations, Inc. | 3,400 | 243,270 | ||||||
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1,677,930 |
| ||||||
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| |||||||
Energy Minerals - 4.4% | ||||||||
Northern Oil & Gas, Inc. | 15,600 | 619,008 | ||||||
Oasis Petroleum, Inc. | 3,860 | 688,006 | ||||||
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1,307,014 |
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Finance - 22.3% | ||||||||
Air Lease Corp. | 8,175 | 420,522 | ||||||
Artisan Partners Asset Management, Inc. | 5,350 | 244,870 | ||||||
Axis Capital Holdings, Ltd. | 6,750 | 438,885 | ||||||
Broadstone Net Lease, Inc. | 18,800 | 294,596 | ||||||
Cadence Bank | 9,450 | 274,050 | ||||||
Carlyle Group, Inc. | 8,075 | 378,798 | ||||||
CNO Financial Group, Inc. | 14,000 | 384,720 | ||||||
CubeSmart | 5,250 | 237,405 | ||||||
Essential Properties Realty Trust, Inc. | 10,050 | 267,933 | ||||||
Evercore Partners, Inc. | 1,900 | 365,921 | ||||||
H&E Equipment Services, Inc. | 6,750 | 433,215 | ||||||
Hannon Armstrong Sust. Inf. Cap., Inc. | 4,825 | 137,030 | ||||||
Hanover Insurance Group, Inc. | 2,500 | 340,425 | ||||||
Hercules Capital, Inc. | 7,725 | 142,526 | ||||||
Horace Mann Educators Corp. | 7,700 | 284,823 | ||||||
Mercury General Corp. | 7,200 | 371,520 | ||||||
Old National Bancorp | 20,675 | 359,952 | ||||||
Piper Sandler Cos. | 1,450 | 287,810 | ||||||
PotlatchDeltic Corp. | 2,810 | 132,126 | ||||||
Provident Financial Services, Inc. | 12,400 | 180,668 | ||||||
Stifel Financial Corp. | 6,000 | 469,020 |
Name of Issuer | Quantity | Fair Value ($) | ||||||
Western Alliance Bancorp | 2,100 | 134,799 | ||||||
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6,581,614 |
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Health Services - 5.6% | ||||||||
Addus HomeCare Corp. * | 4,525 | 467,614 | ||||||
Encompass Health Corp. | 5,025 | 414,964 | ||||||
Patterson Cos., Inc. | 7,325 | 202,536 | ||||||
Tenet Healthcare Corp. * | 5,400 | 567,594 | ||||||
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1,652,708 |
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Health Technology - 5.7% | ||||||||
AtriCure, Inc. * | 7,700 | 234,234 | ||||||
Bio-Techne Corp. | 2,650 | 186,533 | ||||||
Inmode, Ltd. * | 6,250 | 135,063 | ||||||
Intellia Therapeutics, Inc. * | 5,875 | 161,621 | ||||||
Lantheus Holdings, Inc. * | 4,700 | 292,528 | ||||||
Seres Therapeutics, Inc. * | 40,625 | 31,448 | ||||||
STERIS, PLC | 975 | 219,199 | ||||||
Supernus Pharmaceuticals, Inc. * | 5,600 | 191,016 | ||||||
Vericel Corp. * | 4,075 | 211,982 | ||||||
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1,663,624 |
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Industrial Services - 8.2% | ||||||||
DT Midstream, Inc. | 3,850 | 235,235 | ||||||
EMCOR Group, Inc. | 1,850 | 647,870 | ||||||
KBR, Inc. | 10,775 | 685,936 | ||||||
Kodiak Gas Services, Inc. | 5,700 | 155,838 | ||||||
MYR Group, Inc. * | 1,400 | 247,450 | ||||||
TechnipFMC, PLC | 17,750 | 445,703 | ||||||
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2,418,032 |
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Non-Energy Minerals - 3.5% | ||||||||
AZEK Co., Inc. * | 5,700 | 286,254 | ||||||
Commercial Metals Co. | 3,950 | 232,142 | ||||||
Eagle Materials, Inc. | 1,575 | 428,006 | ||||||
MP Materials Corp. * | 6,600 | 94,380 | ||||||
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1,040,782 |
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Process Industries - 5.0% | ||||||||
Avient Corp. | 2,125 | 92,225 | ||||||
Cabot Corp. | 2,450 | 225,890 | ||||||
Huntsman Corp. | 4,650 | 121,039 | ||||||
Olin Corp. | 7,625 | 448,350 | ||||||
Silgan Holdings, Inc. | 8,000 | 388,480 | ||||||
Stepan Co. | 2,250 | 202,590 | ||||||
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1,478,574 |
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| |||||||
Producer Manufacturing - 11.6% | ||||||||
AeroVironment, Inc. * | 2,875 | 440,680 | ||||||
AGCO Corp. | 1,350 | 166,077 | ||||||
AZZ, Inc. | 3,650 | 282,181 | ||||||
Belden, Inc. | 3,175 | 294,037 | ||||||
Carlisle Cos., Inc. | 775 | 303,684 | ||||||
Crane Co. | 3,275 | 442,551 | ||||||
Crane NXT Co. | 3,275 | 202,723 | ||||||
Donaldson Co., Inc. | 2,675 | 199,769 | ||||||
EnPro, Inc. | 1,575 | 265,813 | ||||||
Hubbell, Inc. | 850 | 352,792 | ||||||
Lincoln Electric Holdings, Inc. | 1,075 | 274,598 | ||||||
Regal Rexnord Corp. | 1,042 | 187,664 | ||||||
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| |||||||
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3,412,569 |
| ||||||
|
|
MARCH 31, 2024 | 1 |
SCHEDULE OF INVESTMENTS (Unaudited)
March 31, 2024
Sit Small Cap Dividend Growth Fund (Continued)
Name of Issuer | Quantity | Fair Value ($) | ||||||
Retail Trade - 2.0% | ||||||||
Boot Barn Holdings, Inc. * | 2,875 | 273,556 | ||||||
Casey’s General Stores, Inc. | 1,025 | 326,412 | ||||||
|
| |||||||
|
599,968 |
| ||||||
|
| |||||||
Technology Services - 2.7% | ||||||||
Altair Engineering, Inc. * | 1,725 | 148,609 | ||||||
Globant SA * | 2,625 | 529,987 | ||||||
nCino, Inc. * | 3,100 | 115,878 | ||||||
|
| |||||||
|
794,474 |
| ||||||
|
| |||||||
Transportation - 3.1% | ||||||||
Knight-Swift Transportation Holdings, Inc. | 3,700 | 203,574 | ||||||
Marten Transport, Ltd. | 8,450 | 156,156 | ||||||
TFI International, Inc. | 3,475 | 554,123 | ||||||
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| |||||||
|
913,853 |
| ||||||
|
| |||||||
Utilities - 1.1% | ||||||||
Chesapeake Utilities Corp. | 3,075 | 329,948 | ||||||
|
| |||||||
Total Common Stocks | 26,871,034 | |||||||
|
| |||||||
Short-Term Securities - 9.5% | ||||||||
Fidelity Inst. Money Mkt. Gvt. Fund, 5.25% | 2,792,750 | 2,792,750 | ||||||
|
| |||||||
Total Investments in Securities - 100.6% | 29,663,784 | |||||||
Other Assets and Liabilities, net - (0.6)% | (172,495 | ) | ||||||
|
| |||||||
Net Assets - 100.0% | $ | 29,491,289 | ||||||
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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 March 31, 2024 is as follows:
Investment in Securities | ||||||||||||||||
Level 1 Quoted | Level 2 Other significant | Level 3 Significant | Total ($) | |||||||||||||
Common Stocks** | 26,871,034 | — | — | 26,871,034 | ||||||||||||
Short-Term Securities | 2,792,750 | — | — | 2,792,750 | ||||||||||||
Total: | 29,663,784 | — | — | 29,663,784 |
** | 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 |