0001752724-22-260756.txt : 20221122 0001752724-22-260756.hdr.sgml : 20221122 20221122140628 ACCESSION NUMBER: 0001752724-22-260756 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20220930 FILED AS OF DATE: 20221122 DATE AS OF CHANGE: 20221122 PERIOD START: 20230630 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: 221409528 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 S000023468 Sit Global Dividend Growth Fund C000069003 Sit Global Dividend Growth Fund - Class I GDGIX C000071096 Sit Global Dividend Growth Fund - Class S GDGSX NPORT-P 1 primary_doc.xml NPORT-P false 0000877880 XXXXXXXX S000023468 C000071096 C000069003 SIT MUTUAL FUNDS INC 811-06373 0000877880 254900G3NOOZ0B3T2Q46 80 S. Eighth Street Suite 3300 Minneapolis 55402 612-332-3223 Sit Global Dividend Growth Fund S000023468 254900TZG570AN0A5V42 2023-06-30 2022-09-30 N 37906229.76 35613.37 37870616.39 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 24543.28000000 N AES Corp/The 2NUNNB7D43COUIRE5295 AES Corp/The 00130H105 5100.00000000 NS USD 115260.00000000 0.304352057048 Long EC CORP US N 1 N N N Starbucks Corp OQSJ1DU9TAOC51A47K68 Starbucks Corp 855244109 2950.00000000 NS USD 248567.00000000 0.656358474444 Long EC CORP US N 1 N N N T Rowe Price Group Inc 549300SIV6FPS9Y7IH33 T Rowe Price Group Inc 74144T108 2450.00000000 NS USD 257274.50000000 0.679351234610 Long EC CORP US N 1 N N N Thermo Fisher Scientific Inc HCHV7422L5HDJZCRFL38 Thermo Fisher Scientific Inc 883556102 1175.00000000 NS USD 595948.25000000 1.573642857731 Long EC CORP US N 1 N N N CVS Health Corp 549300EJG376EN5NQE29 CVS Health Corp 126650100 6625.00000000 NS USD 631826.25000000 1.668381215381 Long EC CORP US N 1 N N N Abbott Laboratories HQD377W2YR662HK5JX27 Abbott Laboratories 002824100 7400.00000000 NS USD 716024.00000000 1.890711238038 Long EC CORP US N 1 N N N Siemens AG W38RGI023J3WT1HWRP32 Siemens AG 000000000 4350.00000000 NS 425181.51000000 1.122721388058 Long EC CORP DE N 2 N N N Safran SA 969500UIC89GT3UL7L24 Safran SA 786584102 7700.00000000 NS USD 174636.00000000 0.461138520169 Long EC CORP FR N 1 N N N Iberdrola SA 5QK37QC7NWOJ8D7WVQ45 Iberdrola SA 000000000 60400.00000000 NS 563180.71000000 1.487117886332 Long EC CORP ES N 2 N N N Atlassian Corp PLC 549300AGBII4MWBVJY22 Atlassian Corp PLC 000000000 3525.00000000 NS USD 742329.75000000 1.960173402923 Long EC CORP AU N 1 N N N Otis Worldwide Corp 549300ZLBKR8VSU25153 Otis Worldwide Corp 68902V107 3875.00000000 NS USD 247225.00000000 0.652814829983 Long EC CORP US N 1 N N N Siemens Energy AG 5299005CHJZ14D4FDJ62 Siemens Energy AG 000000000 1600.00000000 NS 17617.22000000 0.046519496325 Long EC CORP DE N 2 N N N Union Pacific Corp 549300LMMRSZZCZ8CL11 Union Pacific Corp 907818108 4050.00000000 NS USD 789021.00000000 2.083464900265 Long EC CORP US N 1 N N N Waste Management Inc 549300YX8JIID70NFS41 Waste Management Inc 94106L109 5100.00000000 NS USD 817071.00000000 2.157532878751 Long EC CORP US N 1 N N N Astellas Pharma Inc 529900IB708DY2HBBB35 Astellas Pharma Inc 000000000 29900.00000000 NS 396094.21000000 1.045914346682 Long EC CORP JP N 2 N N N Scotts Miracle-Gro Co/The 2TH9E0JTOUXOEGI2R879 Scotts Miracle-Gro Co/The 810186106 2675.00000000 NS USD 114356.25000000 0.301965642233 Long EC CORP US N 1 N N N Mondelez International Inc 549300DV9GIB88LZ5P30 Mondelez International Inc 609207105 7100.00000000 NS USD 389293.00000000 1.027955278020 Long EC CORP US N 1 N N N Medtronic PLC 549300GX3ZBSQWUXY261 Medtronic PLC 000000000 6200.00000000 NS USD 500650.00000000 1.322001191752 Long EC CORP IE N 1 N N N Accenture PLC N/A Accenture PLC 000000000 3675.00000000 NS USD 945577.50000000 2.496863241575 Long EC CORP IE N 1 N N N PepsiCo Inc FJSUNZKFNQ5YPJ5OT455 PepsiCo Inc 713448108 5775.00000000 NS USD 942826.50000000 2.489599034487 Long EC CORP US N 1 N N N JPMorgan Chase & Co 8I5DZWZKVSZI1NUHU748 JPMorgan Chase & Co 46625H100 7350.00000000 NS USD 768075.00000000 2.028155528524 Long EC CORP US N 1 N N N FIDELITY INVESTMENTS MONEY MARKET FUNDS - GOVERNMENT PORTFOLIO N/A FIDELITY GOVERNMENT PORT-I 316175108 596393.82000000 NS USD 596393.82000000 1.574819416346 Long STIV RF US N 1 N N N Applied Materials Inc 41BNNE1AFPNAZELZ6K07 Applied Materials Inc 038222105 8175.00000000 NS USD 669777.75000000 1.768594794186 Long EC CORP US N 1 N N N Arthur J Gallagher & Co 54930049QLLMPART6V29 Arthur J Gallagher & Co 363576109 3775.00000000 NS USD 646355.50000000 1.706746711866 Long EC CORP US N 1 N N N Equifax Inc 5493004MCF8JDC86VS77 Equifax Inc 294429105 1000.00000000 NS USD 171430.00000000 0.452672853894 Long EC CORP US N 1 N N N FedEx Corp 549300E707U7WNPZN687 FedEx Corp 31428X106 1950.00000000 NS USD 289516.50000000 0.764488481038 Long EC CORP US N 1 N N N McDonald's Corp UE2136O97NLB5BYP9H04 McDonald's Corp 580135101 1860.00000000 NS USD 429176.40000000 1.133270173319 Long EC CORP US N 1 N N N RELX PLC 549300WSX3VBUFFJOO66 RELX PLC 000000000 17550.00000000 NS 427735.27000000 1.129464769189 Long EC CORP GB N 2 N N N Constellation Brands Inc 5493005GKEG8QCVY7037 Constellation Brands Inc 21036P108 2750.00000000 NS USD 631620.00000000 1.667836597892 Long EC CORP US N 1 N N N Faurecia SE 969500F0VMZLK2IULV85 Faurecia SE 000000000 11926.00000000 NS 129096.81000000 0.340889117490 Long EC CORP FR N 2 N N N London Stock Exchange Group PL 213800QAUUUP6I445N30 London Stock Exchange Group PLC 000000000 6875.00000000 NS 580586.21000000 1.533078321253 Long EC CORP GB N 2 N N N BAE Systems PLC 8SVCSVKSGDWMW2QHOH83 BAE Systems PLC 000000000 74675.00000000 NS 656126.25000000 1.732547057705 Long EC CORP GB N 2 N N N adidas AG 549300JSX0Z4CW0V5023 adidas AG 000000000 835.00000000 NS 95992.64000000 0.253475251132 Long EC CORP DE N 2 N N N Shell PLC 21380068P1DRHMJ8KU70 Shell PLC 780259305 20525.00000000 NS USD 1021324.00000000 2.696877150036 Long EC CORP GB N 1 N N N Chubb Ltd E0JAN6VLUDI1HITHT809 Chubb Ltd 000000000 2650.00000000 NS USD 481982.00000000 1.272707037658 Long EC CORP CH N 1 N N N Bank of America Corp 9DJT3UXIJIZJI4WXO774 Bank of America Corp 060505104 16300.00000000 NS USD 492260.00000000 1.299846812448 Long EC CORP US N 1 N N N Munich Re 529900MUF4C20K50JS49 Muenchener Rueckversicherungs-Gesellschaft AG in Muenchen 000000000 650.00000000 NS 156468.44000000 0.413165812746 Long EC CORP DE N 2 N N N Johnson & Johnson 549300G0CFPGEF6X2043 Johnson & Johnson 478160104 6925.00000000 NS USD 1131268.00000000 2.987191938863 Long EC CORP US N 1 N N N Deutsche Post AG 8ER8GIG7CSMVD8VUFE78 Deutsche Post AG 000000000 4050.00000000 NS 122065.61000000 0.322322744216 Long EC CORP DE N 2 N N N Lonza Group AG 549300EFW4H2TCZ71055 Lonza Group AG 000000000 950.00000000 NS 462546.71000000 1.221386800881 Long EC CORP CH N 2 N N N Man Group PLC/Jersey 2549003YWC1DW6LALB09 Man Group PLC/Jersey 000000000 71800.00000000 NS 177782.32000000 0.469446597248 Long EC CORP GB N 2 N N N Macquarie Group Ltd ACMHD8HWFMFUIQQ8Y590 Macquarie Group Ltd 000000000 3900.00000000 NS 380484.88000000 1.004696823737 Long EC CORP AU N 2 N N N Linde PLC 8945002PAZHZLBGKGF02 Linde PLC 000000000 1475.00000000 NS USD 397645.25000000 1.050009975821 Long EC CORP GB N 1 N N N Logitech International SA 549300SN6PRK6IJJC215 Logitech International SA 000000000 9625.00000000 NS USD 442750.00000000 1.169112209425 Long EC CORP CH N 1 N N N BHP Group Ltd WZE1WSENV6JSZFK0JC28 BHP Group Ltd 088606108 6150.00000000 NS USD 307746.00000000 0.812624745345 Long EC CORP AU N 1 N N N Recruit Holdings Co Ltd 353800R2LRSMVVC4I806 Recruit Holdings Co Ltd 000000000 10800.00000000 NS 311101.07000000 0.821484041337 Long EC CORP JP N 2 N N N AstraZeneca PLC PY6ZZQWO2IZFZC3IOL08 AstraZeneca PLC 046353108 15400.00000000 NS USD 844536.00000000 2.230056123995 Long EC CORP GB N 1 N N N Nestle SA KY37LUS27QQX7BB93L28 Nestle SA 000000000 6075.00000000 NS 657055.73000000 1.735001414377 Long EC CORP CH N 2 N N N Goldman Sachs Group Inc/The 784F5XWPLTWKTBV3E584 Goldman Sachs Group Inc/The 38141G104 1400.00000000 NS USD 410270.00000000 1.083346507421 Long EC CORP US N 1 N N N Partners Group Holding AG 549300I3IVVWZWDHI788 Partners Group Holding AG 000000000 725.00000000 NS 583468.85000000 1.540690132928 Long EC CORP CH N 2 N N N Alphabet Inc 5493006MHB84DD0ZWV18 Alphabet Inc 02079K305 9000.00000000 NS USD 860850.00000000 2.273134377150 Long EC CORP US N 1 N N N Woodside Energy Group Ltd 2549005ZC5RXAOO7FH41 Woodside Energy Group Ltd 980228308 2222.00000000 NS USD 44795.52000000 0.118285690253 Long EC CORP AU N 1 N N N Euronet Worldwide Inc YG3575C4DSHJPA5KET68 Euronet Worldwide Inc 298736109 2800.00000000 NS USD 212128.00000000 0.560138757223 Long EC CORP US N 1 N N N Honeywell International Inc ISRPG12PN4EIEOEMW547 Honeywell International Inc 438516106 3200.00000000 NS USD 534304.00000000 1.410866922517 Long EC CORP US N 1 N N N Trane Technologies PLC 549300BURLR9SLYY2705 Trane Technologies PLC 000000000 2175.00000000 NS USD 314961.75000000 0.831678435746 Long EC CORP IE N 1 N N N Diageo PLC 213800ZVIELEA55JMJ32 Diageo PLC 25243Q205 4225.00000000 NS USD 717447.25000000 1.894469428782 Long EC CORP GB N 1 N N N Sherwin-Williams Co/The Z15BMIOX8DDH0X2OBP21 Sherwin-Williams Co/The 824348106 1875.00000000 NS USD 383906.25000000 1.013731189496 Long EC CORP US N 1 N N N Infineon Technologies AG TSI2PJM6EPETEQ4X1U25 Infineon Technologies AG 000000000 6425.00000000 NS 140604.92000000 0.371277083404 Long EC CORP DE N 2 N N N WEC Energy Group Inc 549300IGLYTZUK3PVP70 WEC Energy Group Inc 92939U106 6150.00000000 NS USD 549994.50000000 1.452298780500 Long EC CORP US N 1 N N N Apple Inc HWUPKR0MPOU8FGXBT394 Apple Inc 037833100 19200.00000000 NS USD 2653440.00000000 7.006593113442 Long EC CORP US N 1 N N N Salesforce Inc RCGZFPDMRW58VJ54VR07 Salesforce Inc 79466L302 725.00000000 NS USD 104284.00000000 0.275369164647 Long EC CORP US N 1 N N N Broadcom Inc 549300WV6GIDOZJTV909 Broadcom Inc 11135F101 1825.00000000 NS USD 810318.25000000 2.139701772094 Long EC CORP US N 1 N N N ST Engineering 254900OEXGGWCR24DG90 Singapore Technologies Engineering Ltd 000000000 158600.00000000 NS 394034.40000000 1.040475274925 Long EC CORP SG N 2 N N N UnitedHealth Group Inc 549300GHBMY8T5GXDE41 UnitedHealth Group Inc 91324P102 1625.00000000 NS USD 820690.00000000 2.167089100289 Long EC CORP US N 1 N N N HomeServe PLC 213800EKBJTGNMXEDF11 HomeServe PLC 000000000 33725.00000000 NS 444352.85000000 1.173344646477 Long EC CORP GB N 2 N N N Home Depot Inc/The QEKMOTMBBKA8I816DO57 Home Depot Inc/The 437076102 2550.00000000 NS USD 703647.00000000 1.858028907566 Long EC CORP US N 1 N N N Allianz SE 529900K9B0N5BT694847 Allianz SE 018820100 35000.00000000 NS USD 546350.00000000 1.442675224436 Long EC CORP DE N 1 N N N Microsoft Corp INR2EJN1ERAN0W5ZP974 Microsoft Corp 594918104 10725.00000000 NS USD 2497852.50000000 6.595753484116 Long EC CORP US N 1 N N N Ericsson 549300W9JLPW15XIFM52 Telefonaktiebolaget LM Ericsson 294821608 57600.00000000 NS USD 330624.00000000 0.873035697637 Long EC CORP SE N 1 N N N Lockheed Martin Corp DPRBOZP0K5RM2YE8UU08 Lockheed Martin Corp 539830109 1565.00000000 NS USD 604543.85000000 1.596340138154 Long EC CORP US N 1 N N N 2022-11-18 SIT MUTUAL FUNDS INC Paul Rasmussen Paul Rasmussen VP, Treasurer & Chief Compliance Officer XXXX NPORT-EX 2 SI91SIT09302022.htm FOR VALIDATION PURPOSES ONLY - [351958.GDG]
    

SCHEDULE OF INVESTMENTS (Unaudited)

September 30, 2022

 

Sit Global Dividend Growth Fund

Investments are grouped by geographic region

 

     
Name of Issuer       Quantity       Fair Value ($)

Common Stocks - 98.2%

    

Asia - 6.8%

   

Australia - 3.9%

   

Atlassian Corp., PLC *

    3,525       742,330  

BHP Group, Ltd. ADR

     6,150       307,746  

Macquarie Group, Ltd.

     3,900       380,485  

Woodside Energy Group, Ltd., ADR

     2,222       44,795  
   

 

 

 

      1,475,356  
   

 

 

 

Japan - 1.9%

   

Astellas Pharma, Inc.

     29,900       396,094  

Recruit Holdings Co., Ltd.

     10,800       311,101  
   

 

 

 

      707,195  
   

 

 

 

Singapore - 1.0%

   

Singapore Technologies Engineering, Ltd.

     158,600       394,035  
   

 

 

 

Europe - 32.7%

   

France - 0.8%

   

Faurecia SE *

    11,926       129,097  

Safran SA, ADR

     7,700       174,636  
   

 

 

 

      303,733  
   

 

 

 

Germany - 4.0%

    

adidas AG

     835       95,993  

Allianz SE, ADR

     35,000       546,350  

Deutsche Post AG

     4,050       122,066  

Infineon Technologies AG

     6,425       140,605  

Muenchener Rueckversicherungs AG

     650       156,468  

Siemens AG

     4,350       425,181  

Siemens Energy AG

     1,600       17,617  
   

 

 

 

      1,504,280  
   

 

 

 

Ireland - 5.7%

   

Accenture, PLC

     3,675       945,577  

Linde, PLC

     1,475       397,645  

Medtronic, PLC

     6,200       500,650  

Trane Technologies, PLC

     2,175       314,962  
   

 

 

 

      2,158,834  
   

 

 

 

Spain - 1.5%

   

Iberdrola SA

     60,400       563,181  
   

 

 

 

Sweden - 0.9%

   

Telefonaktiebolaget LM Ericsson, ADR

     57,600       330,624  
   

 

 

 

Switzerland - 6.9%

   

Chubb, Ltd.

     2,650       481,982  

Logitech International SA

     9,625       442,750  

Lonza Group AG

     950       462,546  

Nestle SA

     6,075       657,056  

Partners Group Holding AG

     725       583,469  
   

 

 

 

      2,627,803  
   

 

 

 

United Kingdom - 12.9%

   

AstraZeneca, PLC, ADR

     15,400       844,536  

BAE Systems, PLC

     74,675       656,126  

Diageo, PLC, ADR

     4,225       717,447  

HomeServe, PLC

     33,725       444,353  

London Stock Exchange Group, PLC

     6,875       580,586  

Man Group, PLC

     71,800       177,783  

 

 

 

     
Name of Issuer       Quantity       Fair Value ($)

RELX, PLC

     17,550       427,735  

Shell, PLC, ADR

     20,525       1,021,324  
   

 

 

 

      4,869,890  
   

 

 

 

North America - 58.7%

   

United States - 58.7%

   

Abbott Laboratories

     7,400       716,024  

AES Corp.

     5,100       115,260  

Alphabet, Inc. - Class A *

    9,000       860,850  

Apple, Inc.

     19,200       2,653,440  

Applied Materials, Inc.

     8,175       669,778  

Arthur J Gallagher & Co.

     3,775       646,356  

Bank of America Corp.

     16,300       492,260  

Broadcom, Inc.

     1,825       810,318  

Constellation Brands, Inc.

     2,750       631,620  

CVS Health Corp.

     6,625       631,826  

Equifax, Inc.

     1,000       171,430  

Euronet Worldwide, Inc. *

    2,800       212,128  

FedEx Corp.

     1,950       289,517  

Goldman Sachs Group, Inc.

     1,400       410,270  

Home Depot, Inc.

     2,550       703,647  

Honeywell International, Inc.

     3,200       534,304  

Johnson & Johnson

     6,925       1,131,268  

JPMorgan Chase & Co.

     7,350       768,075  

Lockheed Martin Corp.

     1,565       604,544  

McDonald’s Corp.

     1,860       429,176  

Microsoft Corp.

     10,725       2,497,853  

Mondelez International, Inc.

     7,100       389,293  

Otis Worldwide Corp.

     3,875       247,225  

PepsiCo, Inc.

     5,775       942,827  

Salesforce, Inc. *

    725       104,284  

Scotts Miracle-Gro Co.

     2,675       114,356  

Sherwin-Williams Co.

     1,875       383,906  

Starbucks Corp.

     2,950       248,567  

T Rowe Price Group, Inc.

     2,450       257,274  

Thermo Fisher Scientific, Inc.

     1,175       595,948  

Union Pacific Corp.

     4,050       789,021  

UnitedHealth Group, Inc.

     1,625       820,690  

Waste Management, Inc.

     5,100       817,071  

WEC Energy Group, Inc.

     6,150       549,994  
   

 

 

 

      22,240,400  
   

 

 

 

Total Common Stocks
(cost: $26,537,949)

       37,175,331  
   

 

 

 

Short-Term Securities - 1.6%

   

Fidelity Inst. Money Mkt. Gvt. Fund, 2.74%
(cost $621,127)

     621,127       621,127  
   

 

 

 

Total Investments in Securities - 99.8%
(cost $27,159,076)

       37,796,458  

Other Assets and Liabilities, net - 0.2%

       76,359  
   

 

 

 

Net Assets - 100.0%

       $37,872,817  
   

 

 

 

 

 

 

*

Non-income producing security.

 

 

ADR — American Depositary Receipt

 

 

PLC — Public Limited Company

 

 

   
SEPTEMBER 30, 2022    1
    

SCHEDULE OF INVESTMENTS (Unaudited)

September 30, 2022

Sit Global Dividend Growth Fund (Continued)

 

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

 

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

Technology Services

      15.0%  

Finance

      14.5                      

Electronic Technology

      13.3     

Health Technology

      12.3     

Producer Manufacturing

        9.2     

Consumer Non-Durables

        9.1     

Retail Trade

        3.5     

Utilities

        3.2     

Transportation

        3.2     

Consumer Services

        2.9     

Energy Minerals

        2.8     

Process Industries

        2.4     

Health Services

        2.2     

Industrial Services

        2.2     

Commercial Services

        1.6     

Non-Energy Minerals

        0.8     

Short-Term Securities

        1.6     
  

 

  
     99.8     
Other Assets and Liabilities, net        0.2     
  

 

  
     100.0%      
  

 

  
 

 

A summary of the levels for the Fund’s investments as of September 30, 2022 is as follows:

 

     Investment in Securities  
    

Level 1

Quoted
      Prices ($)      

     

Level 2

Other significant
observable inputs ($)

     

Level 3

Significant
unobservable inputs ($)

          Total ($)          
  

 

 

  

Common Stocks

            

Australia

      1,094,871        380,485                  —                1,475,356    

France

      174,636        129,097                  —                303,733    

Germany

      546,350        957,930                  —                1,504,280    

Ireland

      2,158,834        —                  —                2,158,834    

Japan

      —        707,195                  —                707,195    

Singapore

      —        394,035                  —                394,035    

Spain

      —        563,181                  —                563,181    

Sweden

      330,624        —                  —                330,624    

Switzerland

      924,732        1,703,071                  —                2,627,803    

United Kingdom

      2,583,307        2,286,583                  —                4,869,890    

United States

      22,240,400        —                  —                22,240,400    

Short-Term Securities

      621,127        —                  —                621,127    
  

 

 

  

Total:

      30,674,881        7,121,577                  —                37,796,458    
  

 

 

  

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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