SIT INVESTMENT ASSOCIATES, INC

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Adviser Profile

As of Date:

08/10/2023

Adviser Type:

- Large advisory firm
- An investment adviser (or subadviser) to an investment company


Number of Employees:

71 1.43%

of those in investment advisory functions:

34 3.03%


Registration:

SEC, Approved, 9/18/1981

AUM:

3,183,307,550 -24.12%

of that, discretionary:

3,183,307,550 -24.12%

Avg Account Size:

37,450,677 -25.91%

% High Net Worth:

25.00% -28.12%


SMA’s:

YES

Private Funds:

8

Websites :
Contact info

Phone: 612 xxxxxxx

Fax: 612 xxxxxxx

Client Types:

- High net worth individuals
- Investment companies
- Pooled investment vehicles
- Pension and profit sharing plans
- Charitable organizations
- State or municipal government entities
- Insurance companies
- Corporations or other businesses not listed above

Advisory Activities:

- Portfolio management for individuals and/or small businesses
- Portfolio management for investment companies
- Portfolio management for pooled investment vehicles
- Portfolio management for businesses

Compensation Arrangments:

- A percentage of assets under your management

Reported AUM

Discretionary
Non-discretionary
7B 6B 5B 4B 3B 2B 943M
2015 2016 2017 2018 2019 2020 2021 2022 2023

Recent News

SIT Investment Associates Inc Adds DWS Municipal Income Trust to Its Portfolio
11/16/2023

Related Stocks: KTF, CLM, AAPL, AVGO, MSFT, PPT,

gurufocus.com

SIT INVESTMENT ASSOCIATES INC Buys 4, Sells 1 in 3rd Quarter
11/10/2022

Related Stocks: GHY, ZTR, OPP, NEA, CLM,

gurufocus.com

Top 5 1st Quarter Trades of SIT INVESTMENT ASSOCIATES INC
05/12/2022

Related Stocks: OPP, EVV, FTF, WDI, BST,

gurufocus.com

Sit Investment Associates Inc Buys BlackRock Science and Technology Trust, Invesco Dynamic ...
11/12/2021

Related Stocks: VTA, TFC, BAX, AES, G, DSL, BST, ASG, IVH, FIV, NCZ, COMM, JQC, MTB, GLO, AON, EVF, IGA,

gurufocus.com


Private Funds Structure

Fund Type Count GAV
Real Estate Fund 1 $1,600,000
Other Private Fund 7 $153,217,482

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Private Funds



Employees




Top Holdings

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037833100 APPLE INC $113,553 3.00% 7.00% -5.00%
594918104 MICROSOFT CORP $125,489 3.00% 16.00% -3.00%
11135F101 BROADCOM INC $76,972 2.00% 21.00% -10.00%
746853100 PUTNAM PREMIER INCOME TRUST PP $70,659 2.00% 15.00% 8.00%
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21924B302 CORNERSTONE STRATEGIC VALUE FD $78,914 2.00% -9.00% 1.00%
27828A100 EATON VANCE CA MUNICIPAL BOND $24,266 1.00% 125.00% 100.00%
27828H105 EATON VANCE LIMITED DURATION I $51,048 1.00% 16.00% 9.00%
09254L107 BLACKROCK MUNIHOLDINGS CA MUC $27,996 1.00% 222.00% 176.00%
09262F100 BLACKROCK ESG CAPITAL ALLOC TR $34,079 1.00% 18.00% 8.00%

Brochure Summary

Overview

Firm Description Sit Investment is a privately owned independent investment adviser located in Minneapolis, Minnesota. Sit Investment was founded in 1981. We manage our clients’ assets on a discretionary basis. Sit Investment manages domestic and international equity securities. Our subsidiary, Sit Fixed Income Advisors II, LLC is a separately registered investment adviser and specializes in managing fixed income securities. Sit Investment and its subsidiary are located in the same Minneapolis office and share all resources. The fixed income investment management services offered by our subsidiary are discussed in a separate brochure. Ownership Sit Investment is privately held. Approximately 88% of the company is owned by members of the Sit Family and by trusts established for their benefit, the trustees of which are Roger J. Sit and Ronald D. Sit. Roger J. Sit and Ronald D. Sit are officers and directors of Sit Investment and actively involved in the management operations. The outstanding shares are held by: Sit Family 88% Other Employees 8% Outside Shareholders - Individuals 4% Total 100% Investment Management – Equity Investment Philosophy Our equity investment philosophy targets growth-oriented companies. Generally, we look to invest in companies with the potential to increase earnings at a faster rate than the representative economy and market index. We believe that earnings growth is the primary determinant of superior long-term returns. We manage our portfolios on an active basis, concentrating our investment in the best growth opportunities at the most reasonable valuation levels. See Item 8 for a discussion regarding our investment strategies. Investment Management – Decision Making Process We manage our clients’ assets on a team basis. Investment management decisions are made by the Investment Committee, with Roger J. Sit as the Chief Investment Officer having final decision-making responsibilities. The Investment Committee’s investment decisions are implemented using model portfolios with targeted security weightings. The stock selections for specific client accounts are based on the model portfolios and adjusted
for each client’s unique investment restrictions as set forth in the investment management agreement with each client. Specific client restrictions differ from client to client and include, for example, restrictions on investing in certain companies or types of securities. The Investment Committee is comprised of the firm’s equity investment management professionals. The individuals with the most significant responsibility for the day-to-day discretionary advice provided to clients are listed below. These individuals also have primary client relationship responsibilities. Please see the Brochure Supplement for information about these individuals. Roger J. Sit, Chairman, CEO, President and Global Chief Investment Officer David A. Brown, CFA, CPA (inactive), Vice President – Research and Investment Management, Director of Client Services Kent L. Johnson, CFA, Senior Vice President – Research and Investment Management Ronald D. Sit, CFA, Director, Vice President - Research and Investment Management Assets Under Management Sit Investment manages client assets on a discretionary basis for several types of clients, including, public and private institutional investors, pension funds, Taft-Hartley plans, charitable institutions, foundations, endowments, corporations, insurance companies, municipalities, registered investment companies, private investment companies, collective investment trusts and high net worth individuals. As of December 31, 2022, we managed $3.2 billion. Please refer to Item 7 for information regarding the accounts managed. Sit Investment serves as the sponsor, general partner, or manager for several of the investment companies to which it provides investment advisory services. Sit Investment is the adviser to the Sit Mutual Funds, a family of 14 no-load mutual funds. For information on the investment company affiliates, see the response to Items 7 and 10. Sit Investment’s subsidiary, Sit Fixed Income Advisors II, LLC, manages fixed income assets on a discretionary basis for the same types of clients. Together, Sit Investment and Sit Fixed Income Advisors II, LLC manage $15.0 billion in fixed income and equity securities as of December 31, 2022. .