# EDGAR Filing Document

**Accession Number:** 0000877880
**File Stem:** 0000940400-26-020302
**Filing Date:** 2026-5
**Character Count:** 43801
**Document Hash:** 55892b73b1a6856fab6ef0945aa32472
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-020302.hdr.sgml**: 20260521

**ACCESSION NUMBER**: 0000940400-26-020302

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260521

**DATE AS OF CHANGE**: 20260521

**PERIOD START**: 20260630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SIT MUTUAL FUNDS INC
- **CENTRAL INDEX KEY:** 0000877880

**ORGANIZATION NAME:**
- **EIN:** 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:** 261007398

**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

## Series and Classes Contracts Data

### Sit Small Cap Dividend Growth Fund (Series ID: S000048642)

| Class ID   | Class Name                                   | Ticker Symbol   |
|:---|:---|:---|
| C000153295 | Sit Small Cap Dividend Growth Fund - Class I | SSCDX           |
| C000153296 | Sit Small Cap Dividend Growth Fund - Class S | SDFSX           |

## Nport-Ex

**SCHEDULE OF INVESTMENTS (Unaudited)** 

March 31, 2026

**Sit Small Cap Dividend Growth Fund** 

Investments are grouped by economic sectors.

---

| | | |
|:---|:---|:---|
| **Name of Issuer** | **Quantity** | **Fair Value ($)** |
|  **Common Stocks - 94.8%** |  |  |
|  **Commercial Services - 2.8%** |  |  |
|  Booz Allen Hamilton Holding Corp. | 2700 | 210681 |
|  Brink's Co. | 3100 | 321253 |
|  Colliers International Group, Inc. | 3600 | 384804 |
|  FTI Consulting, Inc. \* | 1000 | 176770 |
|  Outfront Media, Inc. | 9925 | 263012 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1356520 |
|  **Communications - 0.7%** |  |  |
|  Iridium Communications, Inc. | 12475 | 346057 |
|  **Consumer Durables - 1.8%** |  |  |
|  Century Communities, Inc. | 3925 | 225216 |
|  IMAX Corp. \* | 17100 | 649971 |
|  |  | 875187 |
|  **Consumer Non-Durables - 0.7%** |  |  |
|  Sensient Technologies Corp. | 3650 | 315506 |
|  **Consumer Services - 1.4%** |  |  |
|  Covista, Inc. \* | 3200 | 368800 |
|  Nexstar Media Group, Inc. | 1675 | 302890 |
|  |  | 671690 |
|  **Electronic Technology - 8.8%** |  |  |
|  Coherent Corp. \* | 4475 | 1065990 |
|  Entegris, Inc. | 3340 | 391582 |
|  MKS, Inc. | 3975 | 913495 |
|  Monolithic Power Systems, Inc. | 1050 | 1148017 |
|  Power Integrations, Inc. | 13000 | 665600 |
|  |  | 4184684 |
|  **Energy Minerals - 1.9%** |  |  |
|  Chord Energy Corp. | 3525 | 501185 |
|  Northern Oil & Gas, Inc. | 14275 | 417258 |
|  |  | 918443 |
|  **Finance - 24.4%** |  |  |
|  Air Lease Corp. | 6350 | 412369 |
|  Artisan Partners Asset Management, Inc. | 5350 | 194686 |
|  Axis Capital Holdings, Ltd. | 5625 | 570431 |
|  Broadstone Net Lease, Inc. | 26125 | 477304 |
|  CareTrust REIT, Inc. | 16900 | 619385 |
|  Carlyle Group, Inc. | 8075 | 390749 |
|  CNO Financial Group, Inc. | 14000 | 574840 |
|  Columbia Banking System, Inc. | 25750 | 706323 |
|  CubeSmart | 5250 | 192413 |
|  Essential Properties Realty Trust, Inc. | 14450 | 438702 |
|  Evercore, Inc. | 2315 | 691051 |
|  Glacier Bancorp, Inc. | 8075 | 360710 |
|  HA Sustainable Infrastructure Capital, Inc. | 4825 | 177319 |
|  Hamilton Lane, Inc. | 4125 | 410025 |
|  Hanover Insurance Group, Inc. | 2475 | 429041 |
|  Hercules Capital, Inc. | 24675 | 364450 |
|  Horace Mann Educators Corp. | 12900 | 550572 |
|  Huntington Bancshares, Inc. | 42136 | 659428 |
|  Old National Bancorp | 32575 | 719908 |
|  Pinnacle Financial Partners, Inc. | 7488 | 645016 |
|  Piper Sandler Cos. | 8600 | 658330 |
|  Provident Financial Services, Inc. | 26100 | 552276 |
|  Stifel Financial Corp. | 7950 | 587664 |

---

---

| | | |
|:---|:---|:---|
| **Name of Issuer** | **Quantity** | **Fair Value ($)** |
|  Western Alliance Bancorp | 3625 | 256831 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11639823 |
|  **Health Services - 2.5%** |  |  |
|  Addus HomeCare Corp. \* | 5545 | 519289 |
|  Encompass Health Corp. | 4275 | 413521 |
|  Tenet Healthcare Corp. \* | 1300 | 245323 |
|  |  | 1178133 |
|  **Health Technology - 6.4%** |  |  |
|  AtriCure, Inc. \* | 17300 | 493569 |
|  Bio-Techne Corp. | 4100 | 214266 |
|  Glaukos Corp. \* | 4940 | 531840 |
|  iRadimed Corp. | 3450 | 332097 |
|  STERIS, PLC | 975 | 215602 |
|  Supernus Pharmaceuticals, Inc. \* | 12250 | 633203 |
|  TG Therapeutics, Inc. \* | 7945 | 263933 |
|  Vericel Corp. \* | 10825 | 348240 |
|  |  | 3032750 |
|  **Industrial Services - 15.5%** |  |  |
|  Argan, Inc. | 3725 | 2028821 |
|  DT Midstream, Inc. | 5600 | 754152 |
|  EMCOR Group, Inc. | 1850 | 1365873 |
|  Golar LNG, Ltd. | 14800 | 800828 |
|  Kodiak Gas Services, Inc. | 18400 | 1073088 |
|  TechnipFMC, PLC | 19550 | 1351492 |
|  |  | 7374254 |
|  **Non-Energy Minerals - 2.6%** |  |  |
|  Commercial Metals Co. | 3950 | 242649 |
|  Eagle Materials, Inc. | 2075 | 393109 |
|  James Hardie Industries, PLC \* | 5893 | 111613 |
|  MP Materials Corp. \* | 10600 | 511556 |
|  |  | 1258927 |
|  **Process Industries - 4.0%** |  |  |
|  Avient Corp. | 8900 | 323070 |
|  Cabot Corp. | 4325 | 325716 |
|  CSW Industrials, Inc. | 1200 | 312696 |
|  Olin Corp. | 11500 | 341895 |
|  Silgan Holdings, Inc. | 11400 | 442320 |
|  Stepan Co. | 3325 | 166183 |
|  |  | 1911880 |
|  **Producer Manufacturing - 14.8%** |  |  |
|  AeroVironment, Inc. \* | 2775 | 507964 |
|  AZZ, Inc. | 3650 | 456725 |
|  Belden, Inc. | 3175 | 364585 |
|  BWX Technologies, Inc. | 3150 | 644144 |
|  Carlisle Cos., Inc. | 775 | 258556 |
|  Crane Co. | 3275 | 560025 |
|  Crane NXT Co. | 3275 | 132932 |
|  Donaldson Co., Inc. | 5650 | 479516 |
|  EnPro, Inc. | 1900 | 476235 |
|  Flowserve Corp. | 12475 | 917037 |
|  Hubbell, Inc. | 1225 | 601156 |
|  Huntington Ingalls Industries, Inc. | 1625 | 617337 |
|  Lincoln Electric Holdings, Inc. | 1075 | 267761 |
|  Regal Rexnord Corp. | 2900 | 543054 |
|  Zurn Water Solutions Corp. | 4700 | 210748 |
|  |  | 7037775 |

---

MARCH 31, 2026<sub>1</sub>

------

**SCHEDULE OF INVESTMENTS (Unaudited)** 

March 31, 2026

**Sit Small Cap Dividend Growth Fund (Continued)** 

---

| | | |
|:---|:---|:---|
| **Name of Issuer** | **Quantity** | **Fair Value ($)** |
|  **Retail Trade - 2.3%** |  |  |
|  Boot Barn Holdings, Inc. \* | 2400 | 351264 |
|  Casey's General Stores, Inc. | 1025 | 746056 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1097320 |
|  **Technology Services - 1.7%** |  |  |
|  Genpact, Ltd. | 13325 | 496356 |
|  Globant SA \* | 2625 | 121039 |
|  nCino, Inc. \* | 11535 | 172794 |
|  |  | 790189 |
|  **Transportation - 1.2%** |  |  |
|  Knight-Swift Transportation Holdings, Inc. | 3700 | 213046 |
|  TFI International, Inc. | 3475 | 377489 |
|  |  | 590535 |
|  **Utilities - 1.3%** |  |  |
|  Chesapeake Utilities Corp. | 3075 | 388588 |
|  IDACORP, Inc. | 1750 | 250197 |
|  |  | 638785 |
|  **Total Common Stocks<br>(cost: $30,126,039)** |  | 45218458 |
|  **Short-Term Securities - 5.1%** |  |  |
|  Fidelity Inv. Money Mkt. Gvt. Fund, 3.53%<br>**(cost $2,425,587)** | 2425587 | 2425587 |
|  **Total Investments in Securities - 99.9%<br>(cost $32,551,626)** |  | 47644045 |
|  **Other Assets and Liabilities, net - 0.1%** |  | 32202 |
|  Net Assets - 100.0% |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;$47676247 |

---

\* 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 March 31, 2026 is as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Investment in Securities** | **Investment in Securities** | **Investment in Securities** | **Investment in Securities** |
|  | **Level 1** <br> Quoted <br> Prices ($)  | **Level 2**<br> Other significant<br>observable inputs ($) | **Level 3**<br> Significant<br> unobservable inputs ($) | Total ($) |
|  Common Stocks\*\* | 45218458 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |  | 45218458 |
|  Short-Term Securities | 2425587 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |  | 2425587 |
|  Total: | 47644045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;— |  | 47644045 |

---

\*\* 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.

**2**

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** SIT MUTUAL FUNDS INC

- **b. Investment Company Act file number:** 811-06373

- **c. CIK number of Registrant:** 0000877880

- **d. LEI of Registrant:** 254900G3NOOZ0B3T2Q46

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 80 S. Eighth Street

  - **City:** Minneapolis

  - **State:** MN

  - **Foreign country:** US

  - **Zip / Postal Code:** 55402

  - **Telephone number:** 612-332-3223

**Item A.2. Information about the Series.**

- **a. Name of Series:** Sit Small Cap Dividend Growth Fund

- **b. EDGAR series identifier (if any):** S000048642

- **c. LEI of Series:** 549300SLBKDDGWRKIP44

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-06-30

- **b. Date as of which information is reported:** 2026-03-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $47707430.07

**Total Liabilities:** $36166.29

**Net Assets:** $47671263.78

**Cash Not Reported:** $17180.19

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000153296 | 6.67%                | 4.45%                | -4.40%               |
| Class ID C000153295 | 6.72%                | 4.45%                | -4.40%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $50508.51                | $2886406.53                                |
| Month 2  | $459723.84               | $1620820.18                                |
| Month 3  | $277323.73               | $-2489830.59                               |

### Schedule of Portfolio Investments

| Name                                      | Title                                           | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Commercial Metals Company                 | Commercial Metals Company COM                   | CUSIP: 201723103<br>LEI: 549300OQS2LO07ZJ7N73 | Long             | EC               | CORP              | US        |      3950 | NS      | $242648.50    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Evercore Inc.                             | Evercore Inc. CLASS A                           | CUSIP: 29977A105<br>LEI: 529900P6KLPT95DW3W58 | Long             | EC               | CORP              | US        |      2315 | NS      | $691050.65    | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadstone Net Lease Inc                  | Broadstone Net Lease Inc COM                    | CUSIP: 11135E203<br>LEI: 549300U8D7PT70B49V21 | Long             | EC               | CORP              | US        |     26125 | NS      | $477303.75    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Artisan Partners Asset Management Inc.    | Artisan Partners Asset Management Inc. CL A     | CUSIP: 04316A108<br>LEI: 549300T1FUI6JF63XU51 | Long             | EC               | CORP              | US        |      5350 | NS      | $194686.50    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Idacorp Inc                               | Idacorp Inc COM                                 | CUSIP: 451107106<br>LEI: N134NUJDWN8UEFA8B673 | Long             | EC               | CORP              | US        |      1750 | NS      | $250197.50    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Tenet Healthcare Corporation              | Tenet Healthcare Corporation COM NEW            | CUSIP: 88033G407<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | EC               | CORP              | US        |      1300 | NS      | $245323.00    | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Hamilton Lane Inc                         | Hamilton Lane Inc CL A                          | CUSIP: 407497106<br>LEI: 5493006OKN3V1NORM833 | Long             | EC               | CORP              | US        |      4125 | NS      | $410025.00    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Avient Corporation                        | Avient Corporation COM                          | CUSIP: 05368V106<br>LEI: SM8L9RZYIB34LNTWO040 | Long             | EC               | CORP              | US        |      8900 | NS      | $323070.00    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Emcor Group Inc                           | Emcor Group Inc COM                             | CUSIP: 29084Q100<br>LEI: 529900X0SQJB2J7YDU43 | Long             | EC               | CORP              | US        |      1850 | NS      | $1365873.50   | 2.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Stepan Co                                 | Stepan Co COM                                   | CUSIP: 858586100<br>LEI: IZU1EW9GB3WC7CYCSR17 | Long             | EC               | CORP              | US        |      3325 | NS      | $166183.50    | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Hercules Capital Inc                      | Hercules Capital Inc COM                        | CUSIP: 427096508<br>LEI: 549300UJ5OC256GR2B73 | Long             | EC               | RF                | US        |     24675 | NS      | $364449.75    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Addus Homecare Corp                       | Addus Homecare Corp COM                         | CUSIP: 006739106<br>LEI: 52990090ZT33AKPDBX62 | Long             | EC               | CORP              | US        |      5545 | NS      | $519289.25    | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| AZZ Inc                                   | AZZ Inc COM                                     | CUSIP: 002474104<br>LEI: 549300HD1X2NFLWPYC83 | Long             | EC               | CORP              | US        |      3650 | NS      | $456724.50    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Glacier Bancorp Inc.                      | Glacier Bancorp Inc. COM                        | CUSIP: 37637Q105<br>LEI: 549300SMJAUKZB5D7V74 | Long             | EC               | CORP              | US        |      8075 | NS      | $360710.25    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| FTI Consulting, Inc.                      | FTI Consulting, Inc. COM                        | CUSIP: 302941109<br>LEI: 549300K17GM8EQD0FQ48 | Long             | EC               | CORP              | US        |      1000 | NS      | $176770.00    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Globant S.A                               | Globant S.A USD1.20                             | CUSIP: 000000000<br>LEI: 2221008DCMSPYS42DS88 | Long             | EC               | CORP              | LU        |      2625 | NS      | $121038.75    | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Lincoln Electric Holdings Inc.            | Lincoln Electric Holdings Inc. COM              | CUSIP: 533900106<br>LEI: BIMGBY40SIN95O01BN93 | Long             | EC               | CORP              | US        |      1075 | NS      | $267761.00    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| CSW Industrials Inc.                      | CSW Industrials Inc. COM                        | CUSIP: 126402106<br>LEI: 549300SYOEO3RVQ7FB83 | Long             | EC               | CORP              | US        |      1200 | NS      | $312696.00    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Atricure Inc                              | Atricure Inc COM                                | CUSIP: 04963C209<br>LEI: 254900B2I6GPHK2EXM59 | Long             | EC               | CORP              | US        |     17300 | NS      | $493569.00    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Carlyle Group Inc                         | Carlyle Group Inc COM                           | CUSIP: 14316J108<br>LEI: 529900NGGVF94UK6PG95 | Long             | EC               | CORP              | US        |      8075 | NS      | $390749.25    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| KODIAK GAS SERVICES INC                   | Kodiak Gas Services Inc. COM                    | CUSIP: 50012A108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     18400 | NS      | $1073088.00   | 2.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Encompass Health Corporation              | Encompass Health Corporation COM                | CUSIP: 29261A100<br>LEI: 549300FVRPM9DRQZRG64 | Long             | EC               | CORP              | US        |      4275 | NS      | $413520.75    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Boot Barn Holdings Inc                    | Boot Barn Holdings Inc COM                      | CUSIP: 099406100<br>LEI: 529900QE1BFMYA3N4E71 | Long             | EC               | CORP              | US        |      2400 | NS      | $351264.00    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Century Communities Inc                   | Century Communities Inc COM                     | CUSIP: 156504300<br>LEI: 5299002QMB2O7ZL1CA26 | Long             | EC               | CORP              | US        |      3925 | NS      | $225216.50    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Covista Inc.                              | Covista Inc. COM                                | CUSIP: 00737L103<br>LEI: 549300Z467EZLMODV621 | Long             | EC               | CORP              | US        |      3200 | NS      | $368800.00    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Supernus Pharmaceuticals, Inc             | Supernus Pharmaceuticals, Inc COM               | CUSIP: 868459108<br>LEI: 549300GRM36VBKISYJ58 | Long             | EC               | CORP              | US        |     12250 | NS      | $633202.50    | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Huntington Bancshares Incorporated        | Huntington Bancshares Incorporated COM          | CUSIP: 446150104<br>LEI: 549300XTVCVV9I7B5T19 | Long             | EC               | CORP              | US        |     42136 | NS      | $659428.40    | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| MKS Inc.                                  | MKS Inc. COM                                    | CUSIP: 55306N104<br>LEI: 549300KEQATBHAGVF505 | Long             | EC               | CORP              | US        |      3975 | NS      | $913494.75    | 1.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Donaldson Co Inc                          | Donaldson Co Inc COM                            | CUSIP: 257651109<br>LEI: OZE6KXY9QQPR8EJ8WL20 | Long             | EC               | CORP              | US        |      5650 | NS      | $479515.50    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Argan Inc                                 | Argan Inc COM                                   | CUSIP: 04010E109<br>LEI: 529900E4KZWBV9KGBS83 | Long             | EC               | CORP              | US        |      3725 | NS      | $2028821.25   | 4.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Chord Energy Corp.                        | Chord Energy Corp. COM NEW                      | CUSIP: 674215207<br>LEI: 529900FA4V2YNIKZ0M71 | Long             | EC               | CORP              | US        |      3525 | NS      | $501184.50    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Cabot Corporation                         | Cabot Corporation COM                           | CUSIP: 127055101<br>LEI: K05C0SER542GQ6VLRO68 | Long             | EC               | CORP              | US        |      4325 | NS      | $325715.75    | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| BWX Technologies Inc.                     | BWX Technologies Inc. COM                       | CUSIP: 05605H100<br>LEI: 549300NP85N265KWMS58 | Long             | EC               | CORP              | US        |      3150 | NS      | $644143.50    | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| HA Sustainable Infrastructure Capital Inc | HA Sustainable Infrastructure Capital Inc COM   | CUSIP: 41068X100<br>LEI: 254900ZZRL7MWL1X8E92 | Long             | EC               | CORP              | US        |      4825 | NS      | $177318.75    | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Old National Bancorp                      | Old National Bancorp COM                        | CUSIP: 680033107<br>LEI: 549300MMK90CL5KMVX16 | Long             | EC               | CORP              | US        |     32575 | NS      | $719907.50    | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| CUBESMART                                 | CubeSmart (Maryland) COM                        | CUSIP: 229663109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5250 | NS      | $192412.50    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Iridium Communications, Inc.              | Iridium Communications, Inc. COM                | CUSIP: 46269C102<br>LEI: 549300U620NVQ4J1CT96 | Long             | EC               | CORP              | US        |     12475 | NS      | $346056.50    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Colliers International Group Inc          | Colliers International Group Inc SUB VTG SHS    | CUSIP: 194693107<br>LEI: D3O8K13PHLEXXD1DT480 | Long             | EC               | CORP              | CA        |      3600 | NS      | $384804.00    | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| James Hardie Industries PLC               | James Hardie Industries PLC COM EUR0.59         | CUSIP: 000000000<br>LEI: 635400NSGXKTVOO7JU45 | Long             | EC               | CORP              | IE        |      5893 | NS      | $111613.42    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Regal Rexnord Corporation                 | Regal Rexnord Corporation COM                   | CUSIP: 758750103<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | EC               | CORP              | US        |      2900 | NS      | $543054.00    | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| GENPACT LTD                               | Genpact Ltd. COM STK USD0.01                    | CUSIP: 000000000<br>LEI: 529900OSEC6Q0L4L5B35 | Long             | EC               | CORP              | BM        |     13325 | NS      | $496356.25    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Piper Sandler Companies                   | Piper Sandler Companies COM NEW                 | CUSIP: 724078209<br>LEI: QUQDBTUSOAKFEVMRMF78 | Long             | EC               | CORP              | US        |      8600 | NS      | $658330.00    | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Ncino Inc.                                | Ncino Inc. COM                                  | CUSIP: 63947X101<br>LEI: 549300WVRR2WR3L6MZ46 | Long             | EC               | CORP              | US        |     11535 | NS      | $172794.30    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| TFI International Inc                     | TFI International Inc COM                       | CUSIP: 87241L109<br>LEI: 5493007R9W7KO7SJN678 | Long             | EC               | CORP              | CA        |      3475 | NS      | $377489.25    | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Nexstar Media Group Inc                   | Nexstar Media Group Inc COMMON STOCK            | CUSIP: 65336K103<br>LEI: 52990083ZRR5UT591988 | Long             | EC               | CORP              | US        |      1675 | NS      | $302890.25    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Northern Oil And Gas, Inc.                | Northern Oil And Gas, Inc. COM                  | CUSIP: 665531307<br>LEI: OKFF0PIZDDMNH4UCYE51 | Long             | EC               | CORP              | US        |     14275 | NS      | $417258.25    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| TG Therapeutics Inc                       | TG Therapeutics Inc COM                         | CUSIP: 88322Q108<br>LEI: 529900X21UKABN9NJ529 | Long             | EC               | CORP              | US        |      7945 | NS      | $263932.90    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Belden Inc.                               | Belden Inc. COM                                 | CUSIP: 077454106<br>LEI: 68BKYO1JC791TTJHUE82 | Long             | EC               | CORP              | US        |      3175 | NS      | $364585.25    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| AeroVironment, Inc.                       | AeroVironment, Inc. COM                         | CUSIP: 008073108<br>LEI: 529900PGHVI29YLZ6221 | Long             | EC               | CORP              | US        |      2775 | NS      | $507963.75    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Eagle Materials Inc.                      | Eagle Materials Inc. COM                        | CUSIP: 26969P108<br>LEI: 529900KRXRGXL61SG039 | Long             | EC               | CORP              | US        |      2075 | NS      | $393108.75    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| TechnipFMC PLC                            | TechnipFMC PLC USD1                             | CUSIP: 000000000<br>LEI: 549300D5I93QWCJTCK36 | Long             | EC               | CORP              | GB        |     19550 | NS      | $1351491.50   | 2.84%             |  |  |  | No            |                  1 | On Loan: No      |
| PINNACLE FINANCIAL PARTNERS INC           | Pinnacle Financial Partners Inc. COM            | CUSIP: 72348N109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      7488 | NS      | $645016.32    | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Steris PLC                                | Steris PLC ORD USD0.001                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | IE        |       975 | NS      | $215601.75    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Flowserve Corporation                     | Flowserve Corporation COM                       | CUSIP: 34354P105<br>LEI: 6Y0GK87T6V7NJKZJVM41 | Long             | EC               | CORP              | US        |     12475 | NS      | $917037.25    | 1.92%             |  |  |  | No            |                  1 | On Loan: No      |
| IMAX Corporation                          | IMAX Corporation COM                            | CUSIP: 45245E109<br>LEI: 894500GS1ESLAPZCEI74 | Long             | EC               | CORP              | CA        |     17100 | NS      | $649971.00    | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Enpro Inc                                 | Enpro Inc COM                                   | CUSIP: 29355X107<br>LEI: 549300Y5CFT2LKCFDN54 | Long             | EC               | CORP              | US        |      1900 | NS      | $476235.00    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Air Lease Corporation                     | Air Lease Corporation CL A                      | CUSIP: 00912X302<br>LEI: 5493004NW4M4P8TMMK63 | Long             | EC               | CORP              | US        |      6350 | NS      | $412369.00    | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Silgan Holdings Inc.                      | Silgan Holdings Inc. COM                        | CUSIP: 827048109<br>LEI: KAF673KJXD92C8KSLU49 | Long             | EC               | CORP              | US        |     11400 | NS      | $442320.00    | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| The Hanover Insurance Group, Inc.         | The Hanover Insurance Group, Inc. COM           | CUSIP: 410867105<br>LEI: JJYR6MFKFF6CF8DBZ078 | Long             | EC               | CORP              | US        |      2475 | NS      | $429041.25    | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| MP Materials Corp                         | MP Materials Corp COM CL A                      | CUSIP: 553368101<br>LEI: 89450063PHPS61USMT84 | Long             | EC               | CORP              | US        |     10600 | NS      | $511556.00    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| KNIGHT-SWIFT TRANSPORTATION HOLDINGS INC  | Knight-Swift Transportation Holdings Inc. CL A  | CUSIP: 499049104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      3700 | NS      | $213046.00    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Olin Corporation                          | Olin Corporation COM PAR $1                     | CUSIP: 680665205<br>LEI: 549300GKK294V7W57P06 | Long             | EC               | CORP              | US        |     11500 | NS      | $341895.00    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Booz Allen Hamilton Holding Corp.         | Booz Allen Hamilton Holding Corp. CL A          | CUSIP: 099502106<br>LEI: 529900JPV47PIUWMA015 | Long             | EC               | CORP              | US        |      2700 | NS      | $210681.00    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Huntington Ingalls Industries, Inc.       | Huntington Ingalls Industries, Inc. COM         | CUSIP: 446413106<br>LEI: 5TZLZ6WJTBVJ0QWBG121 | Long             | EC               | CORP              | US        |      1625 | NS      | $617337.50    | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Western Alliance Bancorp                  | Western Alliance Bancorp COM                    | CUSIP: 957638109<br>LEI: 5493003VJXZ5JXT9S762 | Long             | EC               | CORP              | US        |      3625 | NS      | $256831.25    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Casey'S General Stores Inc.               | Casey'S General Stores Inc. COM                 | CUSIP: 147528103<br>LEI: 549300CAFWSI86V66Q65 | Long             | EC               | CORP              | US        |      1025 | NS      | $746056.50    | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Power Integrations Inc.                   | Power Integrations Inc. COM                     | CUSIP: 739276103<br>LEI: 54930085LGXSCIHD5W31 | Long             | EC               | CORP              | US        |     13000 | NS      | $665600.00    | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Columbia Banking System Inc.              | Columbia Banking System Inc. COM                | CUSIP: 197236102<br>LEI: 254900CTRJTQZ3BJ2V17 | Long             | EC               | CORP              | US        |     25750 | NS      | $706322.50    | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| CNO Financial Group, Inc.                 | CNO Financial Group, Inc. COM                   | CUSIP: 12621E103<br>LEI: 11XPYHB76MPM4Y4P2897 | Long             | EC               | CORP              | US        |     14000 | NS      | $574840.00    | 1.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Sensient Technologies Corp                | Sensient Technologies Corp COM                  | CUSIP: 81725T100<br>LEI: CMMZHMFZQG86EI7WZU92 | Long             | EC               | CORP              | US        |      3650 | NS      | $315506.00    | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Carlisle Companies Inc.                   | Carlisle Companies Inc. COM                     | CUSIP: 142339100<br>LEI: XR64VGX1ZPX6G7ZN7Z11 | Long             | EC               | CORP              | US        |       775 | NS      | $258555.50    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Bio-Techne Corp                           | Bio-Techne Corp COM                             | CUSIP: 09073M104<br>LEI: 54930073RLKQ51TILZ35 | Long             | EC               | CORP              | US        |      4100 | NS      | $214266.00    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Coherent Corp                             | Coherent Corp COM                               | CUSIP: 19247G107<br>LEI: 549300O5C25A0MMHHU33 | Long             | EC               | CORP              | US        |      4475 | NS      | $1065989.75   | 2.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Crane NXT Co                              | Crane NXT Co COM                                | CUSIP: 224441105<br>LEI: 549300EXNPSXEWUD3N21 | Long             | EC               | CORP              | US        |      3275 | NS      | $132932.25    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Horace Mann Educators Corporation         | Horace Mann Educators Corporation COM           | CUSIP: 440327104<br>LEI: 254900G5YAV3A2YK8T32 | Long             | EC               | CORP              | US        |     12900 | NS      | $550572.00    | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Crane Co.                                 | Crane Co. COMMON STOCK                          | CUSIP: 224408104<br>LEI: 5493000CQRQOTHUODL75 | Long             | EC               | CORP              | US        |      3275 | NS      | $560025.00    | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Entegris Inc                              | Entegris Inc COM                                | CUSIP: 29362U104<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | EC               | CORP              | US        |      3340 | NS      | $391581.60    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Provident Financial Services Inc.         | Provident Financial Services Inc. COM           | CUSIP: 74386T105<br>LEI: 529900JOSO3SXEDVE477 | Long             | EC               | CORP              | US        |     26100 | NS      | $552276.00    | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Brinks Company                            | Brinks Company COM                              | CUSIP: 109696104<br>LEI: XFP140TFNOQMIVFTVQ13 | Long             | EC               | CORP              | US        |      3100 | NS      | $321253.00    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Caretrust Reit Inc                        | Caretrust Reit Inc COM                          | CUSIP: 14174T107<br>LEI: 5493001NVXE2B9GPLU96 | Long             | EC               | CORP              | US        |     16900 | NS      | $619385.00    | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Zurn Elkay Water Solutions Corporation    | Zurn Elkay Water Solutions Corporation COM      | CUSIP: 98983L108<br>LEI: 549300AM3633XDFU1Q85 | Long             | EC               | CORP              | US        |      4700 | NS      | $210748.00    | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| OUTFRONT Media Inc                        | OUTFRONT Media Inc COM NEW                      | CUSIP: 69007J304<br>LEI: 549300RZWDYU5722I639 | Long             | EC               | CORP              | US        |      9925 | NS      | $263012.50    | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Glaukos Corp.                             | Glaukos Corp. COM                               | CUSIP: 377322102<br>LEI: 5299004JA1LHE21M6T14 | Long             | EC               | CORP              | US        |      4940 | NS      | $531840.40    | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Monolithic Power Systems Inc.             | Monolithic Power Systems Inc. COM               | CUSIP: 609839105<br>LEI: 529900TB7O85LSZ1XU31 | Long             | EC               | CORP              | US        |      1050 | NS      | $1148017.50   | 2.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Vericel Corporation                       | Vericel Corporation COM                         | CUSIP: 92346J108<br>LEI: 54930076YM3PLTDR4B91 | Long             | EC               | CORP              | US        |     10825 | NS      | $348240.25    | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Essential Properties Realty Trust Inc.    | Essential Properties Realty Trust Inc. COM      | CUSIP: 29670E107<br>LEI: 2549009LXQLVYCGLZO50 | Long             | EC               | CORP              | US        |     14450 | NS      | $438702.00    | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Chesapeake Utilities Corporation          | Chesapeake Utilities Corporation COM            | CUSIP: 165303108<br>LEI: 254900WW0FDCKAOCKE74 | Long             | EC               | CORP              | US        |      3075 | NS      | $388587.75    | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Golar LNG Limited                         | Golar LNG Limited COM STK USD1.00               | CUSIP: 000000000<br>LEI: 213800C2VSFZG3EZLO34 | Long             | EC               | CORP              | BM        |     14800 | NS      | $800828.00    | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| AXIS Capital Holdings Limited             | AXIS Capital Holdings Limited COM USD0.0125     | CUSIP: 000000000<br>LEI: 635400VD2NQBYAHMEM55 | Long             | EC               | CORP              | BM        |      5625 | NS      | $570431.25    | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Stifel Financial Corporation              | Stifel Financial Corporation COM                | CUSIP: 860630102<br>LEI: 549300E5F07FE5GHJX84 | Long             | EC               | CORP              | US        |      7950 | NS      | $587664.00    | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Hubbell Incorporated                      | Hubbell Incorporated COM                        | CUSIP: 443510607<br>LEI: 54930088VDQ6840Y6597 | Long             | EC               | CORP              | US        |      1225 | NS      | $601156.50    | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity Colchester Street Trust          | Fidelity Colchester Street Trust MNY MRKT FDS I | CUSIP: 316175108<br>LEI: 549300SHPEJB1OPRCV46 | Long             | STIV             | RF                | US        |   2408406 | NS      | $2408406.40   | 5.05%             |  |  |  | No            |                  1 | On Loan: No      |
| DT Midstream Inc                          | DT Midstream Inc COMMON STOCK                   | CUSIP: 23345M107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      5600 | NS      | $754152.00    | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Iradimed Corp.                            | Iradimed Corp. COM                              | CUSIP: 46266A109<br>LEI: 549300YVHWP0YJ1YW816 | Long             | EC               | CORP              | US        |      3450 | NS      | $332097.00    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-05-21

**Name of Applicant:** SIT MUTUAL FUNDS INC

**Signature:** Paul Rasmussen

**Name of Signer:** Paul Rasmussen

**Title:** VP, Treasurer & Chief Compliance Officer