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

SCHEDULE OF INVESTMENTS (Unaudited)

September 30, 2024

Sit Small Cap Dividend Growth Fund

Investments are grouped by economic sectors.

Name of Issuer	Quantity		Fair Value ($)
Common Stocks - 95.0%
Commercial Services - 4.5%
Booz Allen Hamilton Holding Corp.		2,700		439,452
Brink’s Co.		1,825		211,043
Colliers International Group, Inc.		3,600		546,516
FTI Consulting, Inc. *		1,000		227,560
				1,424,571
Communications - 0.7%
Iridium Communications, Inc.		7,050		214,673
Consumer Durables - 1.4%
Century Communities, Inc.		2,175		223,982
National Presto Industries, Inc.		750		56,355
YETI Holdings, Inc. *		4,075		167,197
				447,534
Consumer Non-Durables - 1.4%
Crocs, Inc. *		1,700		246,177
Sensient Technologies Corp.		2,450		196,539
				442,716
Consumer Services - 2.0%
Nexstar Media Group, Inc.		2,650		438,177
Vail Resorts, Inc.		1,100		191,719
				629,896
Electronic Technology - 5.9%
Coherent Corp. *		2,450		217,830
Entegris, Inc.		991		111,517
MKS Instruments, Inc.		3,275		356,025
Monolithic Power Systems, Inc.		1,050		970,725
Power Integrations, Inc.		3,400		218,008
				1,874,105
Energy Minerals - 3.6%
Chord Energy Corp.		4,510		587,337
Northern Oil & Gas, Inc.		15,600		552,396
				1,139,733
Finance - 23.2%
Air Lease Corp.		8,175		370,246
Artisan Partners Asset Management, Inc.		5,350		231,762
Axis Capital Holdings, Ltd.		5,625		447,806
Broadstone Net Lease, Inc.		18,800		356,260
Cadence Bank		9,450		300,982
CareTrust REIT, Inc.		3,000		92,580
Carlyle Group, Inc.		8,075		347,710
CNO Financial Group, Inc.		14,000		491,400
CubeSmart		5,250		282,607
Essential Properties Realty Trust, Inc.		10,050		343,207
Evercore, Inc.		1,900		481,346
H&E Equipment Services, Inc.		8,100		394,308
HA Sustainable Infrastructure Capital, Inc.		4,825		166,318
Hanover Insurance Group, Inc.		2,900		429,519
Hercules Capital, Inc.		7,725		151,719
Horace Mann Educators Corp.		10,200		356,490
Janus Henderson Group, PLC		2,050		78,044
Mercury General Corp.		3,600		226,728
Old National Bancorp		20,675		385,795
Piper Sandler Cos.		1,450		411,525
Provident Financial Services, Inc.		16,100		298,816

Name of Issuer	Quantity		Fair Value ($)
Stifel Financial Corp.		5,300		497,670
Western Alliance Bancorp		2,100		181,629
				7,324,467
Health Services - 5.7%
Acadia Healthcare Co., Inc. *		3,675		233,031
Addus HomeCare Corp. *		3,825		508,840
Encompass Health Corp.		4,275		413,136
Patterson Cos., Inc.		7,325		159,978
Tenet Healthcare Corp. *		2,875		477,825
				1,792,810
Health Technology - 6.9%
AtriCure, Inc. *		12,500		350,500
Bio-Techne Corp.		2,650		211,814
Glaukos Corp. *		1,225		159,593
Intellia Therapeutics, Inc. *		8,675		178,271
Iovance Biotherapeutics, Inc. *		8,150		76,529
Lantheus Holdings, Inc. *		4,700		515,825
STERIS, PLC		975		236,476
Supernus Pharmaceuticals, Inc. *		5,600		174,608
Vericel Corp. *		6,750		285,188
				2,188,804
Industrial Services - 9.9%
Argan, Inc.		4,175		423,470
DT Midstream, Inc.		3,850		302,841
EMCOR Group, Inc.		1,850		796,480
KBR, Inc.		10,775		701,776
Kodiak Gas Services, Inc.		13,200		382,800
TechnipFMC, PLC		19,550		512,797
				3,120,164
Non-Energy Minerals - 3.8%
AZEK Co., Inc. *		5,700		266,760
Commercial Metals Co.		3,950		217,092
Eagle Materials, Inc.		2,075		596,874
MP Materials Corp. *		6,600		116,490
				1,197,216
Process Industries - 4.9%
Avient Corp.		2,125		106,930
Cabot Corp.		2,450		273,836
Huntsman Corp.		4,650		112,530
Olin Corp.		7,625		365,848
Silgan Holdings, Inc.		8,000		420,000
Stepan Co.		3,325		256,856
				1,536,000
Producer Manufacturing - 11.8%
AeroVironment, Inc. *		2,550		511,275
AGCO Corp.		1,350		132,111
AZZ, Inc.		3,650		301,527
Belden, Inc.		3,175		371,888
Carlisle Cos., Inc.		775		348,556
Crane Co.		3,275		518,367
Crane NXT Co.		3,275		183,727
Donaldson Co., Inc.		3,825		281,903
EnPro, Inc.		2,150		348,687
Hubbell, Inc.		850		364,097
Lincoln Electric Holdings, Inc.		1,075		206,421

SEPTEMBER 30, 2024 1

SCHEDULE OF INVESTMENTS (Unaudited)

September 30, 2024

Sit Small Cap Dividend Growth Fund (Continued)

Name of Issuer	Quantity		Fair Value ($)
Regal Rexnord Corp.		1,042		172,847
				3,741,406
Retail Trade - 2.4%
Boot Barn Holdings, Inc. *		2,225		372,198
Casey’s General Stores, Inc.		1,025		385,103
				757,301
Technology Services - 3.1%
Altair Engineering, Inc. *		3,675		350,999
Globant SA *		2,625		520,118
nCino, Inc. *		3,100		97,929
				969,046
Transportation - 2.6%
Knight-Swift Transportation Holdings, Inc.		3,700		199,615
Marten Transport, Ltd.		8,450		149,565
TFI International, Inc.		3,475		475,693
				824,873
Utilities - 1.2%
Chesapeake Utilities Corp.		3,075		381,823
Total Common Stocks (cost: $19,145,276)				30,007,138
Short-Term Securities - 4.9%
Fidelity Inst. Money Mkt. Gvt. Fund, 4.87% (cost $1,539,669)		1,539,669		1,539,669
Total Investments in Securities - 99.9% (cost $20,684,945)				31,546,807
Other Assets and Liabilities, net - 0.1%				18,374
Net Assets - 100.0%				$31,565,181

* 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 September 30, 2024 is as follows:

	Investment in Securities
	Level 1 Quoted Prices ($)		Level 2 Other significant observable inputs ($)		Level 3 Significant unobservable inputs ($)		Total ($)
Common Stocks**		30,007,138		—		—		30,007,138
Short-Term Securities		1,539,669		—		—		1,539,669
Total:		31,546,807		—		—		31,546,807

** 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.

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