0001752724-21-101540.txt : 20210520 0001752724-21-101540.hdr.sgml : 20210520 20210520093125 ACCESSION NUMBER: 0001752724-21-101540 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20210331 FILED AS OF DATE: 20210520 PERIOD START: 20210630 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SIT MUTUAL FUNDS INC CENTRAL INDEX KEY: 0000877880 IRS NUMBER: 000000000 STATE OF INCORPORATION: MN FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: NPORT-P SEC ACT: 1940 Act SEC FILE NUMBER: 811-06373 FILM NUMBER: 21942562 BUSINESS ADDRESS: STREET 1: 3300 IDS CTR, 80 SOUTH 8TH ST CITY: MINNEAPOLIS STATE: MN ZIP: 55402-4130 BUSINESS PHONE: 612-332-3223 MAIL ADDRESS: STREET 1: 3300 IDS CTR, 80 SOUTH 8TH ST CITY: MINNEAPOLIS STATE: MN ZIP: 55402-4130 FORMER COMPANY: FORMER CONFORMED NAME: SIT NEW BEGINNING MUTUAL FUNDS INC DATE OF NAME CHANGE: 19920929 0000877880 S000003463 Sit Developing Markets Growth Fund C000009597 Sit Developing Markets Growth Fund SDMGX NPORT-P 1 primary_doc.xml NPORT-P false 0000877880 XXXXXXXX S000003463 C000009597 SIT MUTUAL FUNDS INC 811-06373 0000877880 254900G3NOOZ0B3T2Q46 80 S. Eighth Street Suite 3300 Minneapolis 55402 612-332-3223 Sit Developing Markets Growth Fund S000003463 254900X352R76CLJ5977 2021-06-30 2021-03-31 N 14067288.74 76715.94 13990572.80 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 N Southern Copper Corp 2549007U6NAP46Q9TU15 Southern Copper Corp 84265V105 3900.00000000 NS USD 264693.00000000 1.891938262885 Long EC CORP PE N 1 N N N XL Axiata Tbk PT 529900GV66NMGZLKFS48 XL Axiata Tbk PT 000000000 948800.00000000 NS 136522.69000000 0.975819160170 Long EC CORP ID N 1 N N N TSMC 549300KB6NK5SBD14S87 Taiwan Semiconductor Manufacturing Co Ltd 874039100 1000.00000000 NS USD 118280.00000000 0.845426428859 Long EC CORP TW N 1 N N N LG Chem Ltd 988400IES4EIG7O06940 LG Chem Ltd 000000000 575.00000000 NS 408990.50000000 2.923329200645 Long EC CORP KR N 1 N N N Baidu Inc 254900AL64IANZYI1E02 Baidu Inc 056752108 1700.00000000 NS USD 369835.00000000 2.643458600923 Long EC CORP CN N 1 N N N iShares MSCI India ETF 549300282VMCFH7S5848 iShares MSCI India ETF 46429B598 11100.00000000 NS USD 468198.00000000 3.346524882812 Long EC RF US N 1 N N N Bidvest Group Ltd/The 5299002ARE4TRMIRGM72 Bidvest Group Ltd/The 000000000 5525.00000000 NS 63780.81000000 0.455884193676 Long EC CORP ZA N 1 N N N CICC 529900OS3SVVTT56QN67 China International Capital Corp Ltd 000000000 58400.00000000 NS 141528.41000000 1.011598395742 Long EC CORP CN N 1 N N N Ambev SA 549300TH5Q6VRP8OT012 Ambev SA 02319V103 21575.00000000 NS USD 59115.50000000 0.422538096510 Long EC CORP BR N 1 N N N Sands China Ltd 549300EVO6UZDGY05787 Sands China Ltd 000000000 7400.00000000 NS 36980.49000000 0.264324345605 Long EC CORP MO N 1 N N N JD.com Inc 549300HVTWB0GJZ16V92 JD.com Inc 47215P106 4450.00000000 NS USD 375268.50000000 2.682295466844 Long EC CORP CN N 1 N N N TSMC 549300KB6NK5SBD14S87 Taiwan Semiconductor Manufacturing Co Ltd 000000000 37482.00000000 NS 771104.83000000 5.511602998842 Long EC CORP TW N 1 N N N ST Engineering 254900OEXGGWCR24DG90 Singapore Technologies Engineering Ltd 000000000 44000.00000000 NS 127237.59000000 0.909452327784 Long EC CORP SG N 1 N N N China Construction Bank Corp 5493001KQW6DM7KEDR62 China Construction Bank Corp 000000000 125000.00000000 NS 105156.87000000 0.751626623893 Long EC CORP CN N 1 N N N Medytox Inc N/A Medytox Inc 000000000 15.00000000 NS 2499.67000000 0.017866816718 Long EC CORP KR N 1 N N N PING AN 529900M9MC28JLN35U89 Ping An Insurance Group Co of China Ltd 000000000 19900.00000000 NS 236907.81000000 1.693338888883 Long EC CORP CN N 1 N N N Flex Ltd 549300EAQH74YHD07T53 Flex Ltd 000000000 4000.00000000 NS USD 73240.00000000 0.523495363963 Long EC CORP US N 1 N N N DBS Group Holdings Ltd 5493007FKT78NKPM5V55 DBS Group Holdings Ltd 000000000 14500.00000000 NS 310329.32000000 2.218131626462 Long EC CORP SG N 1 N N N Broadcom Inc 549300WV6GIDOZJTV909 Broadcom Inc 11135F101 550.00000000 NS USD 255013.00000000 1.822748815545 Long EC CORP US N 1 N N N Astra International Tbk PT 529900L49TRJOMG4DK47 Astra International Tbk PT 000000000 176000.00000000 NS 63917.38000000 0.456860350992 Long EC CORP ID N 1 N N N HKEX 213800YTVSXYQN17BW16 Hong Kong Exchanges & Clearing Ltd 000000000 5100.00000000 NS 300065.60000000 2.144769941084 Long EC CORP HK N 1 N N N Alibaba Group Holding Ltd 5493001NTNQJDH60PM02 Alibaba Group Holding Ltd 01609W102 3150.00000000 NS USD 714199.50000000 5.104862468533 Long EC CORP CN N 1 N N N Skyworks Solutions Inc 549300WZ3ORQ2BVKBD96 Skyworks Solutions Inc 83088M102 1150.00000000 NS USD 211002.00000000 1.508172703264 Long EC CORP US N 1 N N N China Mengniu Dairy Co Ltd 2549005Q343BSJ8RSS21 China Mengniu Dairy Co Ltd 000000000 48000.00000000 NS 274758.49000000 1.963883065602 Long EC CORP HK N 1 N N N Naspers Ltd 21380044BQ8812EEKT59 Naspers Ltd 000000000 1425.00000000 NS 340967.94000000 2.437126376984 Long EC CORP ZA N 1 N N N HDFC Bank Ltd 335800ZQ6I4E2JXENC50 HDFC Bank Ltd 40415F101 5350.00000000 NS USD 415641.50000000 2.970868355011 Long EC CORP IN N 1 N N N Lojas Renner SA N/A Lojas Renner SA 000000000 17300.00000000 NS 130657.08000000 0.933893714487 Long EC CORP BR N 1 N N N GDS Holdings Ltd 391200MGV8DDCHTN2R77 GDS Holdings Ltd 36165L108 1000.00000000 NS USD 81090.00000000 0.579604574874 Long EC CORP CN N 1 N N N Fomento Economico Mexicano SAB 549300A8MDWDJNMLV153 Fomento Economico Mexicano SAB de CV 344419106 1575.00000000 NS USD 118644.75000000 0.848033541557 Long EC CORP MX N 1 N N N SINOPEC CORP 529900A2OB24EZ5B3J19 China Petroleum & Chemical Corp 16941R108 1400.00000000 NS USD 73822.00000000 0.527655308008 Long EC CORP CN N 1 N N N Tencent Holdings Ltd 254900N4SLUMW4XUYY11 Tencent Holdings Ltd 000000000 11400.00000000 NS 894508.69000000 6.393653089028 Long EC CORP CN N 1 N N N Hon Hai Precision Industry Co 30030004CM3GSZXX7O56 Hon Hai Precision Industry Co Ltd 438090805 26835.00000000 NS USD 235611.30000000 1.684071863019 Long EC CORP TW N 1 N N N Samsung Electronics Co Ltd 9884007ER46L6N7EI764 Samsung Electronics Co Ltd 000000000 12250.00000000 NS 881069.14000000 6.297591618264 Long EC CORP KR N 1 N N N Bangkok Bank PCL 549300CCL2BKJGMYXV60 Bangkok Bank PCL 000000000 36500.00000000 NS 147168.00000000 1.051908325011 Long EC CORP TH N 1 N N N Sinopharm Group Co Ltd 529900N54X78YH9JYK92 Sinopharm Group Co Ltd 000000000 44900.00000000 NS 108696.57000000 0.776927232028 Long EC CORP CN N 1 N N N TAL Education Group 5493003PJZS0EC085V72 TAL Education Group 874080104 5825.00000000 NS USD 313676.25000000 2.242054378216 Long EC CORP CN N 1 N N N AIA Group Ltd ZP5ILWVSYE4LJGMMVD57 AIA Group Ltd 000000000 21400.00000000 NS 259582.46000000 1.855409808524 Long EC CORP HK N 1 N N N Nice Ltd 254900YTY4EF5Z4W0A51 Nice Ltd 653656108 1500.00000000 NS USD 326955.00000000 2.336966503615 Long EC CORP IL N 1 N N N Budweiser Brewing Co APAC Ltd 549300YF1MR4GTF18132 Budweiser Brewing Co APAC Ltd 000000000 46000.00000000 NS 137276.34000000 0.981206001801 Long EC CORP HK N 1 N N N Cathay Financial Holding Co Lt 5299009XR1QLFAMQ3X77 Cathay Financial Holding Co Ltd 000000000 82085.00000000 NS 137944.69000000 0.985983147166 Long EC CORP TW N 1 N N N Bid Corp Ltd N/A Bid Corp Ltd 000000000 13200.00000000 NS 255781.30000000 1.828240370544 Long EC CORP ZA N 1 N N N China Tower Corp Ltd 300300T6BNNP0L7O7H91 China Tower Corp Ltd 000000000 704000.00000000 NS 104140.67000000 0.744363161456 Long EC CORP CN N 1 N N N Banco Bradesco SA 549300CTUU1RFXHQJE44 Banco Bradesco SA 000000000 25083.00000000 NS 118716.05000000 0.848543170441 Long EP CORP BR N 1 N N N FIDELITY INVESTMENTS MONEY MARKET FUNDS - GOVERNMENT PORTFOLIO N/A FIDELITY GOVERNMENT PORT-I 316175108 372345.10000000 NS USD 372345.10000000 2.661399967841 Long STIV RF US N 1 N N N Globant SA 2221008DCMSPYS42DS88 Globant SA 000000000 1175.00000000 NS USD 243941.75000000 1.743615172067 Long EC CORP UY N 1 N N N ENN Energy Holdings Ltd 549300V7BXPWT6WIPR03 ENN Energy Holdings Ltd 000000000 21900.00000000 NS 351285.68000000 2.510874179504 Long EC CORP CN N 1 N N N Trip.com Group Ltd 2549004RMYDSRQL4KW41 Trip.com Group Ltd 89677Q107 2700.00000000 NS USD 107001.00000000 0.764807856902 Long EC CORP CN N 1 N N N Shinhan Financial Group Co Ltd 988400EB8A6G49E5KO54 Shinhan Financial Group Co Ltd 000000000 7200.00000000 NS 238250.50000000 1.702935994157 Long EC CORP KR N 1 N N N Sea Ltd 529900OM6JLLW44YKI15 Sea Ltd 81141R100 365.00000000 NS USD 81478.95000000 0.582384661191 Long EC CORP SG N 1 N N N Rio Tinto PLC 213800YOEO5OQ72G2R82 Rio Tinto PLC 767204100 2475.00000000 NS USD 192183.75000000 1.373666058905 Long EC CORP GB N 1 N N N Prosus NV 635400Z5LQ5F9OLVT688 Prosus NV 000000000 1700.00000000 NS 188992.33000000 1.350854841340 Long EC CORP NL N 1 N N N Tencent Music Entertainment Gr 213800XTZK2GOHQTYK41 Tencent Music Entertainment Group 88034P109 5525.00000000 NS USD 113207.25000000 0.809168084955 Long EC CORP CN N 1 N N N Pagseguro Digital Ltd N/A Pagseguro Digital Ltd 000000000 3800.00000000 NS USD 175940.00000000 1.257561091422 Long EC CORP BR N 1 N N N NAVER Corp 988400ULUQYDB2HQYJ61 NAVER Corp 000000000 450.00000000 NS 149900.60000000 1.071440048544 Long EC CORP KR N 1 N N N Meituan 21380033K525E5JLIA77 Meituan 000000000 6000.00000000 NS 230148.83000000 1.645027929092 Long EC CORP CN N 1 N N N CSPC Pharmaceutical Group Ltd 529900M3XQCW234H8O91 CSPC Pharmaceutical Group Ltd 000000000 230400.00000000 NS 278586.59000000 1.991245061817 Long EC CORP CN N 1 N N N Banco Santander Chile 3YJP8HORPAEXJ80D6368 Banco Santander Chile 05965X109 4700.00000000 NS USD 116701.00000000 0.834140257645 Long EC CORP CL N 1 N N N WH Group Ltd 254900A4AYEDRWYSE928 WH Group Ltd 000000000 132500.00000000 NS 107375.77000000 0.767486589255 Long EC CORP HK N 1 N N N Atlassian Corp PLC 549300AGBII4MWBVJY22 Atlassian Corp PLC 000000000 450.00000000 NS USD 94842.00000000 0.677899335186 Long EC CORP AU N 1 N N N 2021-05-19 SIT MUTUAL FUNDS INC Paul Rasmussen Paul Rasmussen VP, Treasurer & Chief Compliance Officer XXXX NPORT-EX 2 SI00SitDevMktsGrthFd.htm FOR VALIDATION PURPOSES ONLY - [162015.DMG]

SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2021

 

Sit Developing Markets Growth Fund

Investments are grouped by geographic region.

 

Name of Issuer   

    

    

Quantity

      Fair Value ($)  

Common Stocks - 93.9%

   

Africa/Middle East - 8.4%

      

Israel - 2.3%

      

NICE Systems, Ltd., ADR *

     1,500        326,955  
     

 

 

  

South Africa - 6.1%

      

Bid Corp., Ltd. *

     13,200        255,781  

Bidvest Group, Ltd.

      5,525        63,781  

Naspers, Ltd.

      1,425        340,968  

Prosus NV

      1,700        188,992  
     

 

 

  
     849,522  
     

 

 

  

Asia - 73.4%

   

Australia - 2.1%

      

Atlassian Corp., PLC *

     450        94,842  

Rio Tinto, PLC, ADR

      2,475        192,184  
     

 

 

  
     287,026  
     

 

 

  

China/Hong Kong - 40.6%

   

AIA Group, Ltd.

      21,400        259,582  

Alibaba Group Holding, Ltd., ADR *

     3,150        714,199  

Baidu, Inc., ADR *

     1,700        369,835  

Budweiser Brewing Co. APAC, Ltd.

      46,000        137,276  

China Construction Bank Corp.

      82,000        68,983  

China International Capital Corp., Ltd. *

     58,400        141,528  

China Mengniu Dairy Co., Ltd.

      48,000        274,758  

China Petroleum & Chemical Corp., ADR

      1,400        73,822  

China Tower Corp., Ltd.

      704,000        104,141  

CSPC Pharmaceutical Group, Ltd.

      230,400        278,587  

ENN Energy Holdings, Ltd.

      21,900        351,286  

GDS Holdings, Ltd., ADR *

     1,000        81,090  

Hong Kong Exchanges & Clearing, Ltd.

      5,100        300,066  

JD.com, Inc., ADR *

     4,450        375,268  

Meituan Dianping *

     6,000        230,149  

Ping An Insurance Group Co. of China, Ltd.

      19,900        236,908  

Sands China, Ltd. *

     7,400        36,980  

Sinopharm Group Co., Ltd.

      44,900        108,697  

TAL Education Group, ADR *

     5,825        313,676  

Tencent Holdings, Ltd.

      11,400        894,509  

Tencent Music Entertainment Group, ADR *

     5,525        113,207  

Trip.com Group, Ltd., ADR *

     2,700        107,001  

WH Group, Ltd.

      132,500        107,376  
     

 

 

  
     5,678,924  
     

 

 

  

India - 3.0%

   

HDFC Bank, Ltd., ADR *

     5,350        415,642  
     

 

 

  

Indonesia - 1.4%

      

Astra International Tbk PT

      176,000        63,917  

XL Axiata Tbk PT

      948,800        136,523  
     

 

 

  
     200,440  
     

 

 

  
Name of Issuer   

    

    

Quantity

      Fair Value ($)  

Singapore - 4.2%

      

DBS Group Holdings, Ltd.

      14,500        310,329  

Flex, Ltd. *

     4,000        73,240  

Sea, Ltd., ADR *

     365        81,479  

Singapore Technologies Engineering, Ltd.

      44,000        127,238  
     

 

 

  
     592,286  
     

 

 

  

South Korea - 12.0%

   

LG Chem, Ltd.

      575        408,990  

Medytox, Inc.

      15        2,500  

NAVER Corp.

      450        149,901  

Samsung Electronics Co., Ltd.

      12,250        881,069  

Shinhan Financial Group Co., Ltd.

      7,200        238,250  
     

 

 

  
     1,680,710  
     

 

 

  

Taiwan - 9.0%

   

Cathay Financial Holding Co., Ltd.

      82,085        137,945  

Hon Hai Precision Industry Co., Ltd., GDR

      26,835        235,611  

Taiwan Semiconductor Co.

      37,482        771,105  

Taiwan Semiconductor Co., ADR

      1,000        118,280  
     

 

 

  
     1,262,941  
     

 

 

  

Thailand - 1.1%

   

Bangkok Bank PCL

      36,500        147,168  
     

 

 

  

Latin America - 7.9%

      

Argentina - 1.7%

      

Globant SA *

     1,175        243,942  
     

 

 

  

Brazil - 3.5%

      

Ambev SA, ADR

      21,575        59,115  

Banco Bradesco SA

      25,083        118,716  

Lojas Renner SA

      17,300        130,657  

Pagseguro Digital, Ltd. *

     3,800        175,940  
     

 

 

  
     484,428  
     

 

 

  

Chile - 0.8%

   

Banco Santander Chile, ADR

      4,700        116,701  
     

 

 

  

Peru - 1.9%

      

Southern Copper Corp.

      3,900        264,693  
     

 

 

  

North America - 4.2%

      

Mexico - 0.9%

      

Fomento Economico Mexicano, ADR

      1,575        118,645  
     

 

 

  

United States - 3.3%

      

Broadcom, Inc.

      550        255,013  

Skyworks Solutions, Inc.

      1,150        211,002  
     

 

 

  
        466,015  
     

 

 

  

Total Common Stocks
(cost: $7,803,622)

         13,136,038  
     

 

 

  

Investment Companies - 3.3%

      

iShares MSCI India ETF

      11,100        468,198  
     

 

 

  

(cost: $333,061)

      
 

 

MARCH 31, 2021   1

SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2021

 

Sit Developing Markets Growth Fund (Continued)

 

Name of Issuer   

    

    

Quantity

      Fair Value ($)  

Short-Term Securities - 2.7%

      

Fidelity Inst. Money Mkt. Gvt. Fund, 0.01%

      371,890        371,890  
     

 

 

  

(cost: $371,890)

      

Total Investments in Securities - 99.9%
(cost: $8,508,573)

         13,976,126  

Other Assets and Liabilities, net - 0.1%

         15,828  
     

 

 

  

Total Net Assets - 100.0%

         $13,991,954  
     

 

 

  

 

*

Non-income producing security.

ADR — American Depositary Receipt

GDR — Global Depositary Receipt

Numeric footnotes not disclosed are not applicable to this Schedule of Investments.

 

Portfolio Structure - By Sector    (% of Total Net Assets)

Electronic Technology

      20.5 % 

Technology Services

      18.8  

Finance

      17.8  

Retail Trade

      11.3  

Consumer Services

      5.4  

Consumer Non-Durables

      5.0  

Non-Energy Minerals

      3.3  

Process Industries

      2.9  

Health Technology

      2.8  

Utilities

      2.5  

Communications

      1.7  

Producer Manufacturing

      1.4  

Energy Minerals

      0.5  

Investment Companies

      3.3  

Short-Term Securities

      2.7  
  

 

 

 

     99.9  

Other Assets and Liabilities, net

      0.1  
  

 

 

 

             100.0 %         
  

 

 

 

 

 

2

SCHEDULE OF INVESTMENTS (Unaudited)

March 31, 2021

 

Sit Developing Markets Growth Fund (Continued)

 

A summary of the levels for the Fund’s investments as of March 31, 2021 is as follows:

 

     Investment in Securities  
    

Level 1

Quoted

Price ($)

     

Level 2

Other significant

observable inputs ($)

   

Level 3

Significant

unobservable inputs ($)

      Total ($)  

Common Stocks

            

Argentina

      243,942        —        —        243,942  

Australia

      287,026        —        —        287,026  

Brazil

      484,428        —        —        484,428  

Chile

      116,701        —        —        116,701  

China/Hong Kong

      5,678,924        —        —        5,678,924  

India

      415,642        —        —        415,642  

Indonesia

      200,440        —        —        200,440  

Israel

      326,955        —        —        326,955  

Mexico

      118,645        —        —        118,645  

Peru

      264,693        —        —        264,693  

Singapore

      592,286        —        —        592,286  

South Africa

      849,522        —        —        849,522  

South Korea

      1,680,710        —        —        1,680,710  

Taiwan

      1,262,941        —        —        1,262,941  

Thailand

      147,168        —        —        147,168  

United States

      466,015        —        —        466,015  

Investment Companies

      468,198        —        —        468,198  

Short-Term Securities

      371,890        —        —        371,890  

Total:

      13,976,126        —        —        13,976,126  

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.

 

MARCH 31, 2021   3