-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, ALkLMgbL/rsdk2ZH6vyUxomYUm0zNsrsAEXSpJ+wn544GBKzI5UxL91UizKyXInY sWnWZqCTmj9FzZuWGvGCSg== 0000897101-07-002470.txt : 20071116 0000897101-07-002470.hdr.sgml : 20071116 20071116082625 ACCESSION NUMBER: 0000897101-07-002470 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20070930 FILED AS OF DATE: 20071116 DATE AS OF CHANGE: 20071116 EFFECTIVENESS DATE: 20071116 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SIT LARGE CAP GROWTH FUND INC CENTRAL INDEX KEY: 0000356786 IRS NUMBER: 411414580 STATE OF INCORPORATION: MN FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-03343 FILM NUMBER: 071251491 BUSINESS ADDRESS: STREET 1: 3300 IDS CENTER 80 SOUTH 8TH ST CITY: MINNEAPOLIS STATE: MN ZIP: 55402 BUSINESS PHONE: 612-332-3223 MAIL ADDRESS: STREET 1: 3300 IDS CENTER 80 SOUTH 8TH ST CITY: MINNEAPOLIS STATE: MN ZIP: 55402 FORMER COMPANY: FORMER CONFORMED NAME: SIT GROWTH & INCOME FUND INC DATE OF NAME CHANGE: 19940620 FORMER COMPANY: FORMER CONFORMED NAME: NEW BEGINNING GROWTH FUND INC/NEW DATE OF NAME CHANGE: 19870907 0000356786 S000011803 SIT LARGE CAP GROWTH FUND INC C000032270 SIT LARGE CAP GROWTH FUND INC SNIGX N-Q 1 sit074753lcgf_nq.txt FORM N-Q DATED SEPTEMBER 30, 2007 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM N-Q QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY Investment Company Act file number: 811-03343 SIT LARGE CAP GROWTH FUND, INC. (EXACT NAME OF REGISTRANT AS SPECIFIED IN CHARTER) 3300 IDS Center, 80 S. 8th Street, Minneapolis, MN 55402 (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES) (ZIP CODE) Kelly K. Boston, Esq. 3300 IDS Center, 80 S. 8th Street Minneapolis, MN 55402 (NAME AND ADDRESS OF AGENT FOR SERVICE) Registrant's telephone number, including area code: 612-332-3223 Date of fiscal year end: June 30, 2007 Date of reporting period: September 30, 2007 ITEM 1. SCHEDULE OF INVESTMENTS ----------------------- Sit Large Cap Growth Fund, Inc. THE FUND'S SCHEDULE OF INVESTMENTS AS OF THE DATE ON THE COVER OF THIS REPORT HAS NOT BEEN AUDITED. THIS REPORT IS PROVIDED FOR THE GENERAL INFORMATION OF THE FUND'S SHAREHOLDERS. FOR MORE INFORMATION REGARDING THE FUND AND ITS HOLDINGS, PLEASE SEE THE FUND'S MOST RECENT PROSPECTUS AND ANNUAL REPORT. ==================================================================== LARGE CAP GROWTH FUND PORTFOLIO OF INVESTMENTS - September 30, 2007 (Unaudited) ==================================================================== - -------------------------------------------------------------------- QUANTITY Name of Issuer MARKET VALUE (1) - -------------------------------------------------------------------- COMMON STOCKS (94.7%) (2) COMMERCIAL SERVICES (0.6%) 19,900 The McGraw-Hill Companies, Inc. 1,013,109 -------------- COMMUNICATIONS (5.5%) 58,400 AT&T, Inc. 2,470,904 62,200 Crown Castle Intl. Corp. (3) 2,527,186 27,500 NII Holdings, Inc. (3) 2,259,125 63,700 Vodafone Group, A.D.R. 2,312,310 -------------- 9,569,525 -------------- CONSUMER NON-DURABLES (4.9%) 27,000 Colgate-Palmolive Co. 1,925,640 47,800 PepsiCo, Inc. 3,501,828 43,600 Procter & Gamble Co. 3,066,824 -------------- 8,494,292 -------------- CONSUMER SERVICES (4.4%) 79,650 Comcast Corp. (3) 1,925,937 14,500 Harrah's Entertainment, Inc. 1,260,485 16,400 International Game Technology 706,840 30,000 Marriott International, Inc. 1,304,100 15,800 McDonald's Corp. 860,626 69,300 News Corp. 1,523,907 -------------- 7,581,895 -------------- ELECTRONIC TECHNOLOGY (11.7%) 49,500 Analog Devices, Inc. 1,789,920 9,200 Apple Computer, Inc. (3) 1,412,568 126,700 Cisco Systems, Inc. (3) 4,195,037 76,500 EMC Corp. (3) 1,591,200 61,900 Hewlett-Packard Co. 3,082,001 92,700 Intel Corp. 2,397,222 75,900 Nokia Corp., A.D.R. 2,878,887 35,000 Qualcomm, Inc. 1,479,100 43,500 Texas Instruments, Inc. 1,591,665 -------------- 20,417,600 -------------- ENERGY MINERALS (7.6%) 21,100 Murphy Oil Corp. 1,474,679 36,800 Occidental Petroleum Corp. 2,358,144 51,500 Southwestern Energy Co. (3) 2,155,275 15,400 Suncor Energy, Inc. 1,460,074 27,200 Ultra Petroleum Corp. (3) 1,687,488 25,400 Valero Energy Corp. 1,706,372 37,366 XTO Energy, Inc. 2,310,714 -------------- 13,152,746 -------------- FINANCE (11.7%) 24,400 American Express Co. 1,448,628 32,862 American International Group, Inc. 2,223,114 49,900 Bank of New York Mellon Corp. 2,202,586 44,600 Citigroup, Inc. 2,081,482 3,900 CME Group, Inc. 2,290,665 20,500 Franklin Resources, Inc. 2,613,750 26,400 J.P. Morgan Chase & Co. 1,209,648 25,200 Lincoln National Corp. 1,662,444 12,900 Prudential Financial, Inc. 1,258,782 8,100 The Goldman Sachs Group, Inc. 1,755,594 44,200 Wells Fargo & Co. 1,574,404 -------------- 20,321,097 -------------- HEALTH SERVICES (2.4%) 20,400 Medco Health Solutions, Inc. (3) 1,843,956 22,700 UnitedHealth Group, Inc. 1,099,361 15,600 WellPoint, Inc. (3) 1,231,152 -------------- 4,174,469 -------------- HEALTH TECHNOLOGY (11.1%) 50,300 Abbott Laboratories 2,697,086 36,000 Celgene Corp. (3) 2,567,160 44,600 Genentech, Inc. (3) 3,479,692 25,300 Genzyme Corp. (3) 1,567,588 53,700 Gilead Sciences, Inc. (3) 2,194,719 21,150 Johnson & Johnson 1,389,555 30,400 Medtronic, Inc. 1,714,864 ==================================================================== LARGE CAP GROWTH FUND PORTFOLIO OF INVESTMENTS - September 30, 2007 (Unaudited) ==================================================================== - -------------------------------------------------------------------- QUANTITY Name of Issuer MARKET VALUE (1) - -------------------------------------------------------------------- 14,800 Merck & Co., Inc. 765,012 41,100 Thermo Fisher Scientific, Inc. (3) 2,372,292 6,500 Zimmer Holdings, Inc. (3) 526,435 -------------- 19,274,403 -------------- INDUSTRIAL SERVICES (4.5%) 34,400 McDermott International, Inc. (3) 1,860,352 50,600 Noble Corp. 2,481,930 32,400 Schlumberger, Ltd. 3,402,000 -------------- 7,744,282 -------------- NON-ENERGY MINERALS (0.8%) 13,350 Allegheny Technologies, Inc. 1,467,833 -------------- PROCESS INDUSTRIES (3.8%) 24,500 Air Products and Chemicals, Inc. 2,395,120 39,600 Monsanto Co. 3,395,304 5,800 National-Oilwell Varco, Inc. (3) 838,100 -------------- 6,628,524 -------------- PRODUCER MANUFACTURING (10.6%) 93,500 ABB, Ltd., A.D.R. 2,452,505 12,900 Caterpillar, Inc. 1,011,747 10,600 Deere & Co. 1,573,252 39,200 Emerson Electronic Co. 2,086,224 20,400 General Dynamics Corp. 1,723,188 97,800 General Electric Co. 4,048,920 23,500 ITT Corp. 1,596,355 18,900 The Boeing Co. 1,984,311 24,800 United Technologies Corp. 1,995,904 -------------- 18,472,406 -------------- RETAIL TRADE (3.7%) 61,000 CVS Corp. 2,417,430 14,500 J.C. Penney Co., Inc. 918,865 17,800 Lowe's Companies, Inc. 498,756 39,800 Target Corp. 2,530,086 -------------- 6,365,137 -------------- TECHNOLOGY SERVICES (8.8%) 46,500 Accenture, Ltd. 1,871,625 48,400 Adobe Systems, Inc. (3) 2,113,144 34,400 Automatic Data Processing, Inc. 1,579,992 4,700 Google, Inc. (3) 2,666,169 117,100 Microsoft Corp. 3,449,766 78,800 Oracle Corp. (3) 1,706,020 32,200 SAP AG 1,889,174 -------------- 15,275,890 -------------- TRANSPORTATION (1.2%) 14,800 Burlington Northern Sante Fe Corp. 1,201,316 36,800 UTI Worldwide, Inc. 845,664 -------------- 2,046,980 -------------- UTILITIES (1.4%) 46,400 Equitable Research, Inc. 2,406,768 -------------- Total common stocks 164,406,956 (cost: $129,041,949) -------------- SHORT-TERM SECURITIES (10.7%) (2) 18,571,000 Sit Money Market Fund, 4.70% (4) 18,571,000 (cost: $18,571,000) -------------- Total investments in securities (cost: $147,612,949) $182,977,956 ============== Other Assets and Liabilities, Net [-5.4%] (9,369,228) -------------- Total Net Assets $173,608,728 ============== -------------- Aggregate Cost 147,612,949 -------------- Gross Unrealized Appreciation 36,593,172 Gross Unrealized Depreciation (1,228,165) -------------- Net Unrealized Appreciation(Depreciation) 35,365,007 ============== Notes To Schedule of Investments - -------------------------------- (1) Securities are valued by procedures described in note 1 to the financial statements. (2) Percentage figures indicate percentage of total net assets. (3) Presently non-income producing securities. (4) This security represents an investment in an affiliated party. ITEM 2. CONTROLS AND PROCEDURES ----------------------- (a) The Vice President and Treasurer and the Chairman have concluded that the Sit Large Cap Growth Fund's (the "Fund") disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act) provide reasonable assurances that material information relating to the Fund is made known to them by the appropriate persons, based on their evaluation of these controls and procedures as of a date within 90 days of the filing date of this report. (b) There was no change in the Fund's internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act) that occurred during the Fund's last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the Fund's internal control over financial reporting. ITEM 3. EXHIBITS -------- Certification pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is filed and attached hereto as Exhibit 99.CERT. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Sit Large Cap Growth Fund, Inc. By: /s/Paul E. Rasmussen ----------------------------- Paul Rasmussen Vice President and Treasurer Date: November 16, 2007 Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated. By: /s/Paul E. Rasmussen ----------------------------- Paul Rasmussen Vice President and Treasurer Date: November 16, 2007 By: /s/Eugene C. Sit ----------------------------- Eugene C. Sit Chairman Date: November 16, 2007 EX-99.CERT 2 sit074753lcgf_ex99-cert.txt CERTIFICATIONS OF VICE PRESIDENT AND CHAIRMAN EXHIBIT EX-99.CERT I, Paul E. Rasmussen, certify that: 1. I have reviewed this report on Form N-Q of Sit Large Cap Growth Fund, Inc.; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; 4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) for the registrant and have: a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; b. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based upon such evaluation; and c. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. Date: November 16, 2007 ----------------- /s/Paul E. Rasmussen - ----------------------- Paul E. Rasmussen Vice President and Treasurer I, Eugene C. Sit, certify that: 1. I have reviewed this report on Form N-Q of Sit Large Cap Growth Fund, Inc.; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; 4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) for the registrant and have: a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; b. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based upon such evaluation; and c. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. Date: November 16, 2007 ----------------- /s/Eugene C. Sit - ----------------------- Eugene C. Sit Chairman -----END PRIVACY-ENHANCED MESSAGE-----