# EDGAR Filing Document

**Accession Number:** 0000877880
**File Stem:** 0000940400-26-020315
**Filing Date:** 2026-5
**Character Count:** 40949
**Document Hash:** 939f8c6a41a8486a21f2e2e924f0658a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-020315.hdr.sgml**: 20260521

**ACCESSION NUMBER**: 0000940400-26-020315

**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:** 261007416

**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 International Growth Fund (Series ID: S000003461)

| Class ID   | Class Name                    | Ticker Symbol   |
|:---|:---|:---|
| C000009595 | Sit International Growth Fund | SNGRX           |

## Nport-Ex

**SCHEDULE OF INVESTMENTS (Unaudited)** 

March 31, 2026

**Sit International Growth Fund** 

Investments are grouped by geographic region.

---

| | | |
|:---|:---|:---|
| **Name of Issuer** | **Quantity** | **Fair Value ($)** |
|  **Common Stocks - 98.4%** |  |  |
|  **Asia - 25.3%** |  |  |
|  **Australia - 5.3%** |  |  |
|  Atlassian Corp. \* | 1425 | 97256 |
|  BHP Group, Ltd., ADR | 2900 | 210946 |
|  Lynas Rare Earths, Ltd. \* | 43175 | 586207 |
|  Macquarie Group, Ltd. | 2225 | 316077 |
|  Rio Tinto, PLC, ADR | 4400 | 410476 |
|  Westpac Banking Corp. | 4425 | 122286 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1743248 |
|  **China/Hong Kong - 2.7%** |  |  |
|  AIA Group, Ltd. | 32200 | 357785 |
|  Baidu, Inc., ADR \* | 1075 | 119776 |
|  ENN Energy Holdings, Ltd. | 18400 | 149820 |
|  Ping An Insurance Group Co. of China, Ltd. | 33500 | 257589 |
|  |  | 884970 |
|  **India - 0.4%** |  |  |
|  HDFC Bank, Ltd., ADR | 4800 | 119424 |
|  **Japan - 8.2%** |  |  |
|  Keyence Corp. | 1000 | 355907 |
|  Mitsubishi Heavy Industries, Ltd. | 18000 | 494580 |
|  Mizuho Financial Group, Inc., ADR | 28400 | 225496 |
|  Recruit Holdings Co., Ltd. | 11200 | 487984 |
|  Sony Group Corp., ADR | 35325 | 731228 |
|  Terumo Corp. | 30300 | 407073 |
|  |  | 2702268 |
|  **Singapore - 5.0%** |  |  |
|  DBS Group Holdings, Ltd. | 17160 | 763622 |
|  Singapore Technologies Engineering, Ltd. | 104800 | 889462 |
|  |  | 1653084 |
|  **South Korea - 2.2%** |  |  |
|  Hanwha Aerospace Co., Ltd. | 220 | 187595 |
|  Samsung Electronics Co., Ltd., GDR | 185 | 534962 |
|  |  | 722557 |
|  **Taiwan - 1.5%** |  |  |
|  Hon Hai Precision Industry Co., Ltd., GDR | 11750 | 142045 |
|  Taiwan Semiconductor Co., ADR | 1000 | 337950 |
|  |  | 479995 |
|  **Europe - 58.0%** |  |  |
|  **Belgium - 3.0%** |  |  |
|  D'ieteren Group | 2800 | 518428 |
|  UCB SA | 1550 | 467010 |
|  |  | 985438 |
|  **Denmark - 1.2%** |  |  |
|  Ascendis Pharma A/S, ADR \* | 1690 | 386554 |
|  **France - 10.5%** |  |  |
|  AXA SA | 11750 | 539931 |
|  Dassault Systemes SE | 11700 | 236858 |
|  Elis SA | 12125 | 343361 |
|  Safran SA | 2590 | 847524 |
|  Schneider Electric SE | 3970 | 1081355 |

---

---

| | | |
|:---|:---|:---|
| **Name of Issuer** | **Quantity** | **Fair Value ($)** |
|  Societe Generale SA | 5525 | 403418 |
|  |  | 3452447 |
|  **Germany - 9.0%** |  |  |
|  Allianz SE | 1685 | 711607 |
|  Deutsche Post AG | 6550 | 345230 |
|  Infineon Technologies AG | 5950 | 269929 |
|  Muenchener Rueckversicherungs AG | 800 | 505233 |
|  Rheinmetall AG | 215 | 362659 |
|  Siemens AG | 3100 | 755266 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2949924 |
|  **Ireland - 2.1%** |  |  |
|  CRH, PLC | 2800 | 294336 |
|  Linde, PLC | 500 | 247880 |
|  STERIS, PLC | 825 | 182432 |
|  |  | 724648 |
|  **Netherlands - 4.4%** |  |  |
|  Adyen NV \*, 4 | 84 | 84071 |
|  ASML Holding NV | 1025 | 1353851 |
|  |  | 1437922 |
|  **Spain - 3.5%** |  |  |
|  Banco Santander SA, ADR | 9300 | 104904 |
|  Iberdrola SA | 45900 | 1050842 |
|  |  | 1155746 |
|  **Sweden - 1.2%** |  |  |
|  Hexagon AB | 16200 | 157660 |
|  Spotify Technology SA \* | 500 | 242455 |
|  |  | 400115 |
|  **Switzerland - 6.6%** |  |  |
|  Galderma Group AG | 1800 | 353761 |
|  Lonza Group AG | 590 | 378496 |
|  Nestle SA | 3600 | 353128 |
|  On Holding AG \* | 8625 | 293422 |
|  Partners Group Holding AG | 360 | 388023 |
|  TE Connectivity, PLC | 1100 | 229922 |
|  Ypsomed Holding AG | 510 | 178789 |
|  |  | 2175541 |
|  **United Kingdom - 16.5%** |  |  |
|  AstraZeneca, PLC | 4550 | 897351 |
|  BAE Systems, PLC | 28250 | 828248 |
|  Coca-Cola Europacific Partners, PLC | 5400 | 489618 |
|  Compass Group, PLC | 10625 | 296447 |
|  Entain, PLC | 17100 | 128462 |
|  London Stock Exchange Group, PLC | 4200 | 495969 |
|  Man Group, PLC | 93600 | 315106 |
|  Reckitt Benckiser Group, PLC | 2976 | 200107 |
|  RELX, PLC | 9750 | 324709 |
|  Rentokil Initial, PLC | 47250 | 293230 |
|  Shell, PLC, ADR | 12250 | 1139250 |
|  |  | 5408497 |
|  **Latin America - 0.7%** |  |  |
|  **Argentina - 0.3%** |  |  |
|  Globant SA \* | 2050 | 94526 |

---

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

------

**SCHEDULE OF INVESTMENTS (Unaudited)** 

March 31, 2026

**Sit International Growth Fund (Continued)** 

---

| | | |
|:---|:---|:---|
| **Name of Issuer** | **Quantity** | **Fair Value ($)** |
|  **Brazil - 0.4%** |  |  |
|  MercadoLibre, Inc. \* | 75 | 129676 |
|  **North America - 14.4%** |  |  |
|  **Canada - 3.9%** |  |  |
|  Alimentation Couche-Tard, Inc. | 7400 | 419445 |
|  Aritzia, Inc. \* | 3025 | 246854 |
|  Colliers International Group, Inc. | 1600 | 171024 |
|  Waste Connections, Inc. | 2750 | 446710 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1284033 |
|  **United States - 10.5%** |  |  |
|  Broadcom, Inc. | 10250 | 3172477 |
|  Euronet Worldwide, Inc. \* | 1375 | 91259 |
|  Mondelez International, Inc. | 3075 | 177243 |
|  |  | 3440979 |
|  **Total Common Stocks<br>(cost: $17,107,533)** |  | 32331592 |
|  **Investment Companies 0.5%** |  |  |
|  iShares MSCI India ETF<br>**(cost $95,267)** | 3200 | 149888 |
|  **Short-Term Securities - 0.6%** |  |  |
|  Fidelity Inv. Money Mkt. Gvt. Fund, 3.53%<br>**(cost $206,532)** | 206532 | 206532 |
|  **Total Investments in Securities - 99.5%<br>(cost $17,409,332)** |  | 32688012 |
|  **Other Assets and Liabilities, net - 0.5%** |  | 164165 |
|  **Net Assets - 100.0%** |  | $32852177 |

---

\* Non-income producing security.

---

| | |
|:---|:---|
| 4 | 144A Restricted Security. The total value of such securities as of March 31, 2026 was $84,071 and represented 0.3% of net assets. These securities have been determined to be liquid by the Adviser in accordance with guidelines established by the Board of Directors.  |

---

ADR — American Depositary Receipt

GDR — Global Depositary Receipt

PLC — Public Limited Company

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**2**

------

**SCHEDULE OF INVESTMENTS (Unaudited)** 

March 31, 2026

**Sit International Growth Fund (Continued)** 

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 |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Argentina | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;94526 |  |  | 94526 |
| &nbsp;&nbsp;&nbsp;&nbsp; Australia | 718678 | 1024570 |  | 1743248 |
| &nbsp;&nbsp;&nbsp;&nbsp; Belgium |  | 985438 |  | 985438 |
| &nbsp;&nbsp;&nbsp;&nbsp; Brazil | 129676 |  |  | 129676 |
| &nbsp;&nbsp;&nbsp;&nbsp; Canada | 1284033 |  |  | 1284033 |
| &nbsp;&nbsp;&nbsp;&nbsp; China/Hong Kong | 119776 | 765194 |  | 884970 |
| &nbsp;&nbsp;&nbsp;&nbsp; Denmark | 386554 |  |  | 386554 |
| &nbsp;&nbsp;&nbsp;&nbsp; France |  | 3452447 |  | 3452447 |
| &nbsp;&nbsp;&nbsp;&nbsp; Germany |  | 2949924 |  | 2949924 |
| &nbsp;&nbsp;&nbsp;&nbsp; India | 119424 |  |  | 119424 |
| &nbsp;&nbsp;&nbsp;&nbsp; Ireland | 724648 |  |  | 724648 |
| &nbsp;&nbsp;&nbsp;&nbsp; Japan | 956724 | 1745544 |  | 2702268 |
| &nbsp;&nbsp;&nbsp;&nbsp; Netherlands | 1353851 | 84071 |  | 1437922 |
| &nbsp;&nbsp;&nbsp;&nbsp; Singapore |  | 1653084 |  | 1653084 |
| &nbsp;&nbsp;&nbsp;&nbsp; South Korea |  | 722557 |  | 722557 |
| &nbsp;&nbsp;&nbsp;&nbsp; Spain | 104904 | 1050842 |  | 1155746 |
| &nbsp;&nbsp;&nbsp;&nbsp; Sweden | 242455 | 157660 |  | 400115 |
| &nbsp;&nbsp;&nbsp;&nbsp; Switzerland | 523344 | 1652197 |  | 2175541 |
| &nbsp;&nbsp;&nbsp;&nbsp; Taiwan | 337950 | 142045 |  | 479995 |
| &nbsp;&nbsp;&nbsp;&nbsp; United Kingdom | 2526219 | 2882278 |  | 5408497 |
| &nbsp;&nbsp;&nbsp;&nbsp; United States | 3440979 |  |  | 3440979 |
|  Investment Companies | 149888 |  |  | 149888 |
|  Short-Term Securities | 206532 |  |  | 206532 |
|  Total: | 13420161 | 19267851 |  | 32688012 |

---

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, 2026<sub>3</sub>

## 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 International Growth Fund

- **b. EDGAR series identifier (if any):** S000003461

- **c. LEI of Series:** 254900HEYR6MUMPY3L49

**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:** $32841089.83

**Total Liabilities:** $25157.37

**Net Assets:** $32815932.46

**Cash Not Reported:** $6672.87

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000009595 | 3.09%                | 2.89%                | -7.23%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-314853.60              | $1343598.96                                |
| Month 2  | $102627.00               | $872774.39                                 |
| Month 3  | $-40816.20               | $-2540723.72                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Elis SA                                         | Elis SA EUR1.00                                                         | CUSIP: 000000000<br>LEI: 969500UX71LCE8MAY492 | Long             | EC               | CORP              | FR        |     12125 | NS      | $343361.06    | 1.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Ascendis Pharma A/S                             | Ascendis Pharma A/S SPONSORED ADR                                       | CUSIP: 04351P101<br>LEI: 549300B66JN3W3J8GH73 | Long             | EC               | CORP              | DK        |      1690 | NS      | $386553.70    | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Compass Group PLC                               | Compass Group PLC ORD GBP0.1105                                         | CUSIP: 000000000<br>LEI: 2138008M6MH9OZ6U2T68 | Long             | EC               | CORP              | GB        |     10625 | NS      | $296447.36    | 0.90%             |  |  |  | No            |                  2 | On Loan: No      |
| Lonza Group AG                                  | Lonza Group AG CHF1 (REGD)                                              | CUSIP: 000000000<br>LEI: 549300EFW4H2TCZ71055 | Long             | EC               | CORP              | CH        |       590 | NS      | $378495.98    | 1.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Sony Group Corp.                                | Sony Group Corp. SPONSORED ADR                                          | CUSIP: 835699307<br>LEI: 529900R5WX9N2OI2N910 | Long             | EC               | CORP              | JP        |     35325 | NS      | $731227.50    | 2.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Steris PLC                                      | Steris PLC ORD USD0.001                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | IE        |       825 | NS      | $182432.25    | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Munich Reinsurance AG                           | Munich Reinsurance AG NPV(REGD)                                         | CUSIP: 000000000<br>LEI: 529900MUF4C20K50JS49 | Long             | EC               | CORP              | DE        |       800 | NS      | $505233.04    | 1.54%             |  |  |  | No            |                  2 | On Loan: No      |
| Infineon Technologies AG                        | Infineon Technologies AG ORD NPV (REGD)                                 | CUSIP: 000000000<br>LEI: TSI2PJM6EPETEQ4X1U25 | Long             | EC               | CORP              | DE        |      5950 | NS      | $269928.51    | 0.82%             |  |  |  | No            |                  2 | On Loan: No      |
| Euronet Worldwide, Inc.                         | Euronet Worldwide, Inc. COM                                             | CUSIP: 298736109<br>LEI: YG3575C4DSHJPA5KET68 | Long             | EC               | CORP              | US        |      1375 | NS      | $91258.75     | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Mizuho Financial Group Inc.                     | Mizuho Financial Group Inc. SPONSORED ADR                               | CUSIP: 60687Y109<br>LEI: 353800CI5L6DDAN5XZ33 | Long             | EC               | CORP              | JP        |     28400 | NS      | $225496.00    | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Siemens AG                                      | Siemens AG NPV(REGD)                                                    | CUSIP: 000000000<br>LEI: W38RGI023J3WT1HWRP32 | Long             | EC               | CORP              | DE        |      3100 | NS      | $755265.68    | 2.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Broadcom Inc                                    | Broadcom Inc COM                                                        | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |     10250 | NS      | $3172477.50   | 9.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Keyence Corp.                                   | Keyence Corp. NPV                                                       | CUSIP: 000000000<br>LEI: 529900M7PQBS7A89DZ11 | Long             | EC               | CORP              | JP        |      1000 | NS      | $355907.37    | 1.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Ping An Insurance (Group) Company of China Ltd. | Ping An Insurance (Group) Company of China Ltd. 'H' CNY1                | CUSIP: 000000000<br>LEI: 529900M9MC28JLN35U89 | Long             | EC               | CORP              | CN        |     33500 | NS      | $257588.68    | 0.78%             |  |  |  | No            |                  2 | On Loan: No      |
| ENN ENERGY HOLDINGS LTD                         | ENN Energy Holdings Ltd. HKD0.10                                        | CUSIP: 000000000<br>LEI: 549300V7BXPWT6WIPR03 | Long             | EC               | CORP              | KY        |     18400 | NS      | $149820.46    | 0.46%             |  |  |  | No            |                  2 | On Loan: No      |
| Alimentation Couche-Tard Inc.                   | Alimentation Couche-Tard Inc. COM                                       | CUSIP: 01626P148<br>LEI: 549300OSW32RVX8CCZ87 | Long             | EC               | CORP              | CA        |      7400 | NS      | $419445.04    | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Linde PLC                                       | Linde PLC COM EUR0.001                                                  | CUSIP: 000000000<br>LEI: 5299003QR1WT0EF88V51 | Long             | EC               | CORP              | IE        |       500 | NS      | $247880.00    | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| CRH PLC                                         | CRH PLC ORD EUR 0.32                                                    | CUSIP: 000000000<br>LEI: 549300MIDJNNTH068E74 | Long             | EC               | CORP              | IE        |      2800 | NS      | $294336.00    | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Westpac Banking Corp.                           | Westpac Banking Corp. NPV                                               | CUSIP: 000000000<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | EC               | CORP              | AU        |      4425 | NS      | $122286.07    | 0.37%             |  |  |  | No            |                  2 | On Loan: No      |
| Fidelity Colchester Street Trust                | Fidelity Colchester Street Trust MNY MRKT FDS I                         | CUSIP: 316175108<br>LEI: 549300SHPEJB1OPRCV46 | Long             | STIV             | RF                | US        |    199869 | NS      | $199869.26    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Entain PLC                                      | Entain PLC ORD EUR0.01                                                  | CUSIP: 000000000<br>LEI: 213800GNI3K45LQR8L28 | Long             | EC               | CORP              | IM        |     17100 | NS      | $128462.09    | 0.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Hanwha Aerospace Co Ltd                         | Hanwha Aerospace Co Ltd KRW5000                                         | CUSIP: 000000000<br>LEI: 9884001NSUA8FQKQWR25 | Long             | EC               | CORP              | KR        |       220 | NS      | $187595.47    | 0.57%             |  |  |  | No            |                  2 | On Loan: No      |
| BAIDU INC                                       | Baidu Inc. SPON ADR REP A                                               | CUSIP: 056752108<br>LEI: 254900AL64IANZYI1E02 | Long             | EC               | CORP              | KY        |      1075 | NS      | $119776.50    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Banco Santander SA                              | Banco Santander SA ADR                                                  | CUSIP: 05964H105<br>LEI: 5493006QMFDDMYWIAM13 | Long             | EC               | CORP              | ES        |      9300 | NS      | $104904.00    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co., Ltd.    | Taiwan Semiconductor Manufacturing Co., Ltd. SPONSORED ADS              | CUSIP: 874039100<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |      1000 | NS      | $337950.00    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Societe Generale S.A.                           | Societe Generale S.A. EUR1.25                                           | CUSIP: 000000000<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | EC               | CORP              | FR        |      5525 | NS      | $403418.41    | 1.23%             |  |  |  | No            |                  2 | On Loan: No      |
| ATLASSIAN CORP                                  | Atlassian Corporation CL A                                              | CUSIP: 049468101<br>LEI: 549300V7ZY5P02D2MY38 | Long             | EC               | CORP              | US        |      1425 | NS      | $97256.25     | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| BHP Group Ltd.                                  | BHP Group Ltd. SPONSORED ADS                                            | CUSIP: 088606108<br>LEI: WZE1WSENV6JSZFK0JC28 | Long             | EC               | CORP              | AU        |      2900 | NS      | $210946.00    | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Europacific Partners PLC              | Coca-Cola Europacific Partners PLC COM EUR0.01                          | CUSIP: 000000000<br>LEI: 549300LTH67W4GWMRF57 | Long             | EC               | CORP              | GB        |      5400 | NS      | $489618.00    | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Macquarie Group Ltd.                            | Macquarie Group Ltd. NPV                                                | CUSIP: 000000000<br>LEI: ACMHD8HWFMFUIQQ8Y590 | Long             | EC               | CORP              | AU        |      2225 | NS      | $316076.46    | 0.96%             |  |  |  | No            |                  2 | On Loan: No      |
| Rio Tinto PLC                                   | Rio Tinto PLC SPONSORED ADR                                             | CUSIP: 767204100<br>LEI: 213800YOEO5OQ72G2R82 | Long             | EC               | CORP              | GB        |      4400 | NS      | $410476.00    | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Relx PLC                                        | Relx PLC ORD GBP0.1444                                                  | CUSIP: 000000000<br>LEI: 549300WSX3VBUFFJOO66 | Long             | EC               | CORP              | GB        |      9750 | NS      | $324708.79    | 0.99%             |  |  |  | No            |                  2 | On Loan: No      |
| Ypsomed Holding AG                              | Ypsomed Holding AG CHF14.15 (REGD)                                      | CUSIP: 000000000<br>LEI: 391200QLIOTTBNPNSI14 | Long             | EC               | CORP              | CH        |       510 | NS      | $178788.82    | 0.54%             |  |  |  | No            |                  2 | On Loan: No      |
| Galderma Group AG                               | Galderma Group AG CHF0.01                                               | CUSIP: 000000000<br>LEI: 89450001OK6O8ELQ4584 | Long             | EC               | CORP              | CH        |      1800 | NS      | $353760.86    | 1.08%             |  |  |  | No            |                  2 | On Loan: No      |
| On Holding AG                                   | On Holding AG NAMEN AKT A                                               | CUSIP: 000000000<br>LEI: 506700FB3467B9W95526 | Long             | EC               | CORP              | CH        |      8625 | NS      | $293422.50    | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Dassault Systemes                               | Dassault Systemes EUR0.10                                               | CUSIP: 000000000<br>LEI: 96950065LBWY0APQIM86 | Long             | EC               | CORP              | FR        |     11700 | NS      | $236857.70    | 0.72%             |  |  |  | No            |                  2 | On Loan: No      |
| Globant S.A                                     | Globant S.A USD1.20                                                     | CUSIP: 000000000<br>LEI: 2221008DCMSPYS42DS88 | Long             | EC               | CORP              | LU        |      2050 | NS      | $94525.50     | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| London Stock Exchange Group PLC                 | London Stock Exchange Group PLC ORD GBP0.06918604                       | CUSIP: 000000000<br>LEI: 213800QAUUUP6I445N30 | Long             | EC               | CORP              | GB        |      4200 | NS      | $495968.61    | 1.51%             |  |  |  | No            |                  2 | On Loan: No      |
| Axa SA                                          | Axa SA EUR2.29                                                          | CUSIP: 000000000<br>LEI: F5WCUMTUM4RKZ1MAIE39 | Long             | EC               | CORP              | FR        |     11750 | NS      | $539930.86    | 1.65%             |  |  |  | No            |                  2 | On Loan: No      |
| Safran SA                                       | Safran SA EUR0.20                                                       | CUSIP: 000000000<br>LEI: 969500UIC89GT3UL7L24 | Long             | EC               | CORP              | FR        |      2590 | NS      | $847523.93    | 2.58%             |  |  |  | No            |                  2 | On Loan: No      |
| BAE Systems PLC                                 | BAE Systems PLC ORD GBP0.025                                            | CUSIP: 000000000<br>LEI: 8SVCSVKSGDWMW2QHOH83 | Long             | EC               | CORP              | GB        |     28250 | NS      | $828247.80    | 2.52%             |  |  |  | No            |                  2 | On Loan: No      |
| Lynas Rare Earths Ltd.                          | Lynas Rare Earths Ltd. NPV                                              | CUSIP: 000000000<br>LEI: 529900SGT9M1FJPXXI35 | Long             | EC               | CORP              | AU        |     43175 | NS      | $586207.13    | 1.79%             |  |  |  | No            |                  2 | On Loan: No      |
| UCB SA                                          | UCB SA NPV                                                              | CUSIP: 000000000<br>LEI: 2138008J191VLSGY5A09 | Long             | EC               | CORP              | BE        |      1550 | NS      | $467009.95    | 1.42%             |  |  |  | No            |                  2 | On Loan: No      |
| Reckitt Benckiser Group PLC                     | Reckitt Benckiser Group PLC ORD GBP0.1041666666666667                   | CUSIP: 000000000<br>LEI: 5493003JFSMOJG48V108 | Long             | EC               | CORP              | GB        |      2976 | NS      | $200107.26    | 0.61%             |  |  |  | No            |                  2 | On Loan: No      |
| Aritzia Inc                                     | Aritzia Inc SUB VTG SHS                                                 | CUSIP: 04045U102<br>LEI: 549300U83HKFRL1EX527 | Long             | EC               | CORP              | CA        |      3025 | NS      | $246853.57    | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Allianz SE                                      | Allianz SE NPV(REGD)(VINKULIERT)                                        | CUSIP: 000000000<br>LEI: 529900K9B0N5BT694847 | Long             | EC               | CORP              | DE        |      1685 | NS      | $711606.88    | 2.17%             |  |  |  | No            |                  2 | On Loan: No      |
| Mondelez International Inc.                     | Mondelez International Inc. CL A                                        | CUSIP: 609207105<br>LEI: 549300DV9GIB88LZ5P30 | Long             | EC               | CORP              | US        |      3075 | NS      | $177243.00    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| ASML Holding N.V.                               | ASML Holding N.V. NY REGISTRY SHS                                       | CUSIP: 000000000<br>LEI: 724500Y6DUVHQD6OXN27 | Long             | EC               | CORP              | NL        |      1025 | NS      | $1353850.75   | 4.13%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust                                   | iShares Trust MSCI INDIA ETF                                            | CUSIP: 46429B598<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |      3200 | NS      | $149888.00    | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Singapore Technologies Engineering Ltd.         | Singapore Technologies Engineering Ltd. NPV                             | CUSIP: 000000000<br>LEI: 254900OEXGGWCR24DG90 | Long             | EC               | CORP              | SG        |    104800 | NS      | $889462.22    | 2.71%             |  |  |  | No            |                  2 | On Loan: No      |
| WASTE CONNECTIONS INC                           | Waste Connections Inc. COM                                              | CUSIP: 94106B101<br>LEI: 549300HDLRTPBQU69P29 | Long             | EC               | CORP              | CA        |      2750 | NS      | $446710.00    | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi Heavy Industries Ltd.                | Mitsubishi Heavy Industries Ltd. NPV                                    | CUSIP: 000000000<br>LEI: 353800TJ98PCAZROVE69 | Long             | EC               | CORP              | JP        |     18000 | NS      | $494579.88    | 1.51%             |  |  |  | No            |                  2 | On Loan: No      |
| Mercadolibre Inc                                | Mercadolibre Inc COM                                                    | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | US        |        75 | NS      | $129676.50    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| MAN GROUP PLC                                   | Man Group PLC (New) ORD USD0.0342857142                                 | CUSIP: 000000000<br>LEI: 2549003YWC1DW6LALB09 | Long             | EC               | CORP              | JE        |     93600 | NS      | $315105.99    | 0.96%             |  |  |  | No            |                  2 | On Loan: No      |
| Schneider Electric SE                           | Schneider Electric SE EUR4.00                                           | CUSIP: 000000000<br>LEI: 969500A1YF1XUYYXS284 | Long             | EC               | CORP              | FR        |      3970 | NS      | $1081354.97   | 3.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Adyen NV                                        | Adyen NV EUR0.01                                                        | CUSIP: 000000000<br>LEI: 724500973ODKK3IFQ447 | Long             | EC               | CORP              | NL        |        84 | NS      | $84071.43     | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| Hexagon AB                                      | Hexagon AB SER'B'NPV                                                    | CUSIP: 000000000<br>LEI: 549300WJFW6ILNI4TA80 | Long             | EC               | CORP              | SE        |     16200 | NS      | $157660.30    | 0.48%             |  |  |  | No            |                  2 | On Loan: No      |
| Samsung Electronics Co Ltd.                     | Samsung Electronics Co Ltd. GDR EACH REP 25 COM STK KRW100(REG S)       | CUSIP: 796050888<br>LEI: 9884007ER46L6N7EI764 | Long             | EC               | CORP              | KR        |       185 | NS      | $534961.49    | 1.63%             |  |  |  | No            |                  2 | On Loan: No      |
| TE Connectivity PLC                             | TE Connectivity PLC ORD SHS                                             | CUSIP: 000000000<br>LEI: 6367003TB6K484NFHE54 | Long             | EC               | CORP              | IE        |      1100 | NS      | $229922.00    | 0.70%             |  |  |  | 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        |      1600 | NS      | $171024.00    | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| DBS Group Holdings Ltd.                         | DBS Group Holdings Ltd. NPV                                             | CUSIP: 000000000<br>LEI: 5493007FKT78NKPM5V55 | Long             | EC               | CORP              | SG        |     17160 | NS      | $763622.20    | 2.33%             |  |  |  | No            |                  2 | On Loan: No      |
| Hon Hai Precision Industry Co Ltd.              | Hon Hai Precision Industry Co Ltd. SPON GDS EACH REP 2 SHS TWD10 REG'S' | CUSIP: 438090805<br>LEI: 30030004CM3GSZXX7O56 | Long             | EC               | CORP              | TW        |     11750 | NS      | $142044.79    | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| Recruit Holdings Co Ltd.                        | Recruit Holdings Co Ltd. NPV                                            | CUSIP: 000000000<br>LEI: 353800R2LRSMVVC4I806 | Long             | EC               | CORP              | JP        |     11200 | NS      | $487983.66    | 1.49%             |  |  |  | No            |                  2 | On Loan: No      |
| AstraZeneca PLC                                 | AstraZeneca PLC ORD USD0.25                                             | CUSIP: 000000000<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |      4550 | NS      | $897351.00    | 2.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Rentokil Initial PLC                            | Rentokil Initial PLC ORD GBP0.01                                        | CUSIP: 000000000<br>LEI: 549300VN4WV7Z6T14K68 | Long             | EC               | CORP              | GB        |     47250 | NS      | $293230.08    | 0.89%             |  |  |  | No            |                  2 | On Loan: No      |
| SPOTIFY TECHNOLOGY SA                           | Spotify Technology S.A. COM EUR0.000625                                 | CUSIP: 000000000<br>LEI: 549300B4X0JHWV0DTD60 | Long             | EC               | CORP              | LU        |       500 | NS      | $242455.00    | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| D'Ieteren Group                                 | D'Ieteren Group NPV                                                     | CUSIP: 000000000<br>LEI: 549300DV5KJ23OKVTW34 | Long             | EC               | CORP              | BE        |      2800 | NS      | $518428.39    | 1.58%             |  |  |  | No            |                  2 | On Loan: No      |
| Iberdrola, S.A.                                 | Iberdrola, S.A. EUR0.75                                                 | CUSIP: 000000000<br>LEI: 5QK37QC7NWOJ8D7WVQ45 | Long             | EC               | CORP              | ES        |     45900 | NS      | $1050842.27   | 3.20%             |  |  |  | No            |                  2 | On Loan: No      |
| NESTLE' CAPITAL MARKETS SA                      | Nestle SA CHF0.10 (REGD)                                                | CUSIP: 000000000<br>LEI: 549300PZN3NFSOUXLC42 | Long             | EC               | CORP              | CH        |      3600 | NS      | $353127.79    | 1.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Partners Group Holding AG                       | Partners Group Holding AG CHF0.01 (REGD)                                | CUSIP: 000000000<br>LEI: 549300I3IVVWZWDHI788 | Long             | EC               | CORP              | CH        |       360 | NS      | $388022.72    | 1.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Terumo Corp.                                    | Terumo Corp. NPV                                                        | CUSIP: 000000000<br>LEI: 353800JX1R4582QVK932 | Long             | EC               | CORP              | JP        |     30300 | NS      | $407073.19    | 1.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Rheinmetall AG                                  | Rheinmetall AG NPV                                                      | CUSIP: 000000000<br>LEI: 5299001OU9CSE29O6S05 | Long             | EC               | CORP              | DE        |       215 | NS      | $362659.04    | 1.11%             |  |  |  | No            |                  2 | On Loan: No      |
| Shell PLC                                       | Shell PLC SPON ADS                                                      | CUSIP: 780259305<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | GB        |     12250 | NS      | $1139250.00   | 3.47%             |  |  |  | No            |                  1 | On Loan: No      |
| HDFC Bank Ltd.                                  | HDFC Bank Ltd. SPONSORED ADS                                            | CUSIP: 40415F101<br>LEI: 335800ZQ6I4E2JXENC50 | Long             | EC               | CORP              | IN        |      4800 | NS      | $119424.00    | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| AIA Group Ltd, Hong Kong                        | AIA Group Ltd, Hong Kong NPV                                            | CUSIP: 000000000<br>LEI: ZP5ILWVSYE4LJGMMVD57 | Long             | EC               | CORP              | HK        |     32200 | NS      | $357784.76    | 1.09%             |  |  |  | No            |                  2 | On Loan: No      |
| DHL GROUP                                       | DHL GROUP                                                               | CUSIP: 000000000<br>LEI: 8ER8GIG7CSMVD8VUFE78 | Long             | EC               | CORP              | DE        |      6550 | NS      | $345230.39    | 1.05%             |  |  |  | No            |                  2 | 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