Sit Balanced Fund (SIBAX) NPORT-P Sit Global Dividend Growth Fund (Sep 2024 report)

SCHEDULE OF INVESTMENTS (Unaudited)

September 30, 2024

Sit Global Dividend Growth Fund

Investments are grouped by geographic region.

Name of Issuer	Quantity		Fair Value ($)
Common Stocks - 96.7%
Asia - 4.4%
Australia - 2.2%
Atlassian Corp. *		3,445		547,100
Macquarie Group, Ltd.		3,810		612,073
				1,159,173
Japan - 1.2%
Recruit Holdings Co., Ltd.		10,600		642,011
Singapore - 1.0%
Singapore Technologies Engineering, Ltd.		155,000		561,992
Europe - 31.8%
Denmark - 0.9%
Novo Nordisk A/S, ADR		3,925		467,350
France - 0.8%
Safran SA, ADR		7,520		442,792
Germany - 5.6%
Allianz SE, ADR		34,190		1,122,116
Infineon Technologies AG		6,275		219,749
Muenchener Rueckversicherungs AG		1,470		808,838
Siemens AG		4,250		857,899
				3,008,602
Ireland - 5.0%
Accenture, PLC		3,285		1,161,182
Linde, PLC		1,445		689,063
Trane Technologies, PLC		2,125		826,051
				2,676,296
Spain - 1.7%
Iberdrola SA		59,010		912,392
Switzerland - 5.2%
Chubb, Ltd.		2,290		660,413
Lonza Group AG		930		587,438
Nestle SA		4,885		490,376
Partners Group Holding AG		705		1,057,895
				2,796,122
United Kingdom - 12.6%
AstraZeneca, PLC, ADR		15,040		1,171,766
BAE Systems, PLC		63,905		1,057,293
Compass Group, PLC		14,170		453,533
Diageo, PLC, ADR		4,125		578,902
London Stock Exchange Group, PLC		6,715		917,513
Man Group, PLC		216,290		612,460
RELX, PLC		14,120		662,972
Shell, PLC, ADR		20,055		1,322,627
				6,777,066
North America - 60.5%
United States - 60.5%
Abbott Laboratories		7,230		824,292
AbbVie, Inc.		750		148,110
Alphabet, Inc. - Class A		8,790		1,457,822
Apple, Inc.		18,220		4,245,260
Applied Materials, Inc.		7,985		1,613,369

Name of Issuer	Quantity		Fair Value ($)
Arthur J Gallagher & Co.		3,685		1,036,848
Broadcom, Inc.		17,850		3,079,125
Cheniere Energy, Inc.		2,830		508,947
ConocoPhillips		4,025		423,752
Constellation Brands, Inc.		2,690		693,186
FedEx Corp.		1,900		519,992
Goldman Sachs Group, Inc.		1,370		678,301
Home Depot, Inc.		2,490		1,008,948
Honeywell International, Inc.		3,130		647,002
JPMorgan Chase & Co.		7,180		1,513,975
Lockheed Martin Corp.		1,525		891,454
McDonald’s Corp.		1,820		554,208
Microsoft Corp.		10,475		4,507,393
Mondelez International, Inc.		6,940		511,270
NVIDIA Corp.		11,500		1,396,560
Otis Worldwide Corp.		3,785		393,413
PepsiCo, Inc.		4,765		810,288
Salesforce, Inc.		705		192,966
Sherwin-Williams Co.		1,835		700,364
Thermo Fisher Scientific, Inc.		1,145		708,263
Union Pacific Corp.		3,960		976,061
UnitedHealth Group, Inc.		1,930		1,128,432
Waste Management, Inc.		2,880		597,888
WEC Energy Group, Inc.		3,010		289,502
Williams Cos., Inc.		8,500		388,025
				32,445,016
Total Common Stocks (cost: $21,732,414)				51,888,812
Short-Term Securities - 3.2%
Fidelity Inst. Money Mkt. Gvt. Fund, 4.87% (cost $1,695,199)		1,695,199		1,695,199
Total Investments in Securities - 99.9% (cost $23,427,613)				53,584,011
Other Assets and Liabilities, net - 0.1%				76,518
Net Assets - 100.0%				$53,660,529

                             

* 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, 2024 1

SCHEDULE OF INVESTMENTS (Unaudited)

September 30, 2024

Sit Global Dividend Growth Fund (Continued)

A summary of the levels for the Fund’s investments as of September 30, 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		1,159,173		—		—		1,159,173
Denmark		467,350		—		—		467,350
France		442,792		—		—		442,792
Germany		3,008,602		—		—		3,008,602
Ireland		2,676,296		—		—		2,676,296
Japan		642,011		—		—		642,011
Singapore		561,992		—		—		561,992
Spain		912,392		—		—		912,392
Switzerland		2,796,122		—		—		2,796,122
United Kingdom		6,777,066		—		—		6,777,066
United States		32,445,016		—		—		32,445,016
Short-Term Securities		1,695,199		—		—		1,695,199
Total:		53,584,011		—		—		53,584,011

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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