# EDGAR Filing Document

**Accession Number:** 0000877880
**File Stem:** 0000940400-26-020320
**Filing Date:** 2026-5
**Character Count:** 27271
**Document Hash:** 72fb896f53b57344fa4526e6fe98e766
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-020320.hdr.sgml**: 20260521

**ACCESSION NUMBER**: 0000940400-26-020320

**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:** 261007422

**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 Developing Markets Growth Fund (Series ID: S000003463)

| Class ID   | Class Name                         | Ticker Symbol   |
|:---|:---|:---|
| C000009597 | Sit Developing Markets Growth Fund | SDMGX           |

## Nport-Ex

**SCHEDULE OF INVESTMENTS (Unaudited)** 

March 31, 2026

**Sit Developing Markets Growth Fund** 

Investments are grouped by geographic region.

---

| | | |
|:---|:---|:---|
| **Name of Issuer** | **Quantity** | **Fair Value ($)** |
|  **Common Stocks - 95.5%** |  |  |
|  **Africa/Middle East - 5.9%** |  |  |
|  **Israel - 0.5%** |  |  |
|  NICE, Ltd., ADR \* | 500 | 55130 |
|  **South Africa - 5.4%** |  |  |
|  Bid Corp., Ltd. | 7725 | 186071 |
|  Bidvest Group, Ltd. | 5525 | 74298 |
|  Naspers, Ltd. | 7125 | &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;368555 |
|  |  | 628924 |
|  **Asia - 73.2%** |  |  |
|  **Australia - 1.1%** |  |  |
|  Rio Tinto, PLC, ADR | 1425 | 132938 |
|  **China/Hong Kong - 19.3%** |  |  |
|  AIA Group, Ltd. | 21400 | 237782 |
|  Alibaba Group Holding, Ltd., ADR | 1800 | 225828 |
|  Baidu, Inc., ADR \* | 925 | 103063 |
|  ENN Energy Holdings, Ltd. | 19800 | 161220 |
|  Hong Kong Exchanges & Clearing, Ltd. | 5100 | 257285 |
|  Meituan \*<sup>,</sup> <sup>4</sup> | 6820 | 74422 |
|  Ping An Insurance Group Co. of China, Ltd. | 26900 | 206840 |
|  Pop Mart International Group, Ltd. <sup>4</sup> | 2200 | 40927 |
|  Sands China, Ltd. | 42400 | 90369 |
|  Sinopharm Group Co., Ltd. | 44900 | 116487 |
|  Tencent Holdings, Ltd. | 8200 | 517194 |
|  Trip.com Group, Ltd., ADR | 3950 | 196670 |
|  |  | 2228087 |
|  **India - 2.1%** |  |  |
|  HDFC Bank, Ltd., ADR | 8750 | 217700 |
|  MakeMyTrip, Ltd. \* | 800 | 29832 |
|  |  | 247532 |
|  **Indonesia - 2.0%** |  |  |
|  Astra International Tbk PT | 176000 | 64973 |
|  XLSMART Telecom Sejahtera Tbk PT | 948800 | 166129 |
|  |  | 231102 |
|  **Singapore - 9.4%** |  |  |
|  DBS Group Holdings, Ltd. | 7900 | 351551 |
|  Flex, Ltd. \* | 4000 | 261840 |
|  Sea, Ltd, ADR \* | 1225 | 101442 |
|  Singapore Technologies Engineering, Ltd. | 44000 | 373439 |
|  |  | 1088272 |
|  **South Korea - 16.5%** |  |  |
|  Hanwha Aerospace Co., Ltd. | 120 | 102325 |
|  LG Chem, Ltd. | 130 | 26572 |
|  NAVER Corp. | 450 | 61267 |
|  Samsung Electronics Co., Ltd. | 9410 | 1100607 |
|  Shinhan Financial Group Co., Ltd. | 4150 | 247345 |
|  SK Hynix, Inc. | 650 | 368787 |
|  |  | 1906903 |
|  **Taiwan - 21.2%** |  |  |
|  Cathay Financial Holding Co., Ltd. | 88784 | 198506 |
|  Hon Hai Precision Industry Co., Ltd., GDR | 16625 | 200978 |
|  Taiwan Semiconductor Co. | 35482 | 2052085 |
|  |  | 2451569 |

---

---

| | | |
|:---|:---|:---|
| **Name of Issuer** | **Quantity** | **Fair Value ($)** |
|  **Thailand - 1.6%** |  |  |
|  Bangkok Bank PCL | 36500 | 186050 |
|  **Europe - 0.8%** |  |  |
|  **Netherlands - 0.8%** |  |  |
|  Prosus NV | 1940 | 89813 |
|  **Latin America - 6.4%** |  |  |
|  **Argentina - 0.5%** |  |  |
|  Globant SA \* | 1175 | 54179 |
|  **Brazil - 2.0%** |  |  |
|  Banco Bradesco SA | 30350 | &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;112380 |
|  MercadoLibre, Inc. \* | 67 | 115845 |
|  |  | 228225 |
|  **Chile - 1.4%** |  |  |
|  Banco Santander Chile, ADR | 4700 | 156980 |
|  **Peru - 2.5%** |  |  |
|  Southern Copper Corp. | 1718 | 295599 |
|  **North America - 9.2%** |  |  |
|  **Mexico - 1.5%** |  |  |
|  Fomento Economico Mexicano, ADR | 1575 | 174920 |
|  **United States - 7.7%** |  |  |
|  Broadcom, Inc. | 2875 | 889841 |
|  **Total Common Stocks<br>(cost: $5,357,356)** |  | 11046064 |
|  **Investment Companies 3.9%** |  |  |
|  iShares MSCI India ETF<br>**(cost $292,600)** | 9750 | 456690 |
|  **Short-Term Securities** - **0.5%** |  |  |
|  Fidelity Inv. Money Mkt. Gvt. Fund, 3.53%<br>**(cost $54,905)** | 54905 | 54905 |
|  **Total Investments in Securities - 99.9%<br>(cost $5,704,861)** |  | 11557659 |
|  **Other Assets and Liabilities, net - 0.1%** |  | 14145 |
|  **Net Assets - 100.0%** |  | $11571804 |

---

\* Non-income producing security.

---

| | |
|:---|:---|
| 4 | 144A Restricted Security. The total value of such securities as of March 31, 2026 was $115,349 and represented 1.0% 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*.*

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

------

**SCHEDULE OF INVESTMENTS (Unaudited)** 

March 31, 2026

**Sit Developing Markets 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 ($) |<br>Total ($) |
|  Common Stocks |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp; Argentina | 54179 |  |  | 54179 |
| &nbsp;&nbsp;&nbsp;&nbsp; Australia | 132938 |  |  | 132938 |
| &nbsp;&nbsp;&nbsp;&nbsp; Brazil | 228225 |  |  | 228225 |
| &nbsp;&nbsp;&nbsp;&nbsp; Chile | 156980 |  |  | 156980 |
| &nbsp;&nbsp;&nbsp;&nbsp; China/Hong Kong | 525561 | 1702526 |  | 2228087 |
| &nbsp;&nbsp;&nbsp;&nbsp; India | 247532 |  |  | 247532 |
| &nbsp;&nbsp;&nbsp;&nbsp; Indonesia |  | 231102 |  | 231102 |
| &nbsp;&nbsp;&nbsp;&nbsp; Israel | 55130 |  |  | 55130 |
| &nbsp;&nbsp;&nbsp;&nbsp; Mexico | 174920 |  |  | 174920 |
| &nbsp;&nbsp;&nbsp;&nbsp; Netherlands |  | 89813 |  | 89813 |
| &nbsp;&nbsp;&nbsp;&nbsp; Peru | 295599 |  |  | 295599 |
| &nbsp;&nbsp;&nbsp;&nbsp; Singapore | 363282 | 724990 |  | 1088272 |
| &nbsp;&nbsp;&nbsp;&nbsp; South Africa | 260369 | 368555 |  | 628924 |
| &nbsp;&nbsp;&nbsp;&nbsp; South Korea |  | 1906903 |  | 1906903 |
| &nbsp;&nbsp;&nbsp;&nbsp; Taiwan |  | 2451569 |  | 2451569 |
| &nbsp;&nbsp;&nbsp;&nbsp; Thailand |  | 186050 |  | 186050 |
| &nbsp;&nbsp;&nbsp;&nbsp; United States | 889841 |  |  | 889841 |
|  Investment Companies | 456690 |  |  | 456690 |
|  Short-Term Securities | 54905 |  |  | 54905 |
|  Total: | 3896151 | 7661508 |  | 11557659 |

---

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.

**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 Developing Markets Growth Fund

- **b. EDGAR series identifier (if any):** S000003463

- **c. LEI of Series:** 254900X352R76CLJ5977

**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:** $11669380.70

**Total Liabilities:** $100654.41

**Net Assets:** $11568726.29

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000009597 | 6.19%                | 4.01%                | -10.12%              |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $737579.84                                 |
| Month 2  | $0.00                    | $509908.32                                 |
| Month 3  | $70.71                   | $-1337085.61                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Fomento Economico Mexicano S A B de C V         | Fomento Economico Mexicano S A B de C V SPON ADR UNITS                  | CUSIP: 344419106<br>LEI: 549300A8MDWDJNMLV153 | Long             | EC               | CORP              | MX        |      1575 | NS      | $174919.50    | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Banco Santander-Chile                           | Banco Santander-Chile SP ADR REP COM                                    | CUSIP: 05965X109<br>LEI: 3YJP8HORPAEXJ80D6368 | Long             | EC               | CORP              | CL        |      4700 | NS      | $156980.00    | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co., Ltd.    | Taiwan Semiconductor Manufacturing Co., Ltd. TWD10                      | CUSIP: 000000000<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |     35482 | NS      | $2052084.61   | 17.74%            |  |  |  | No            |                  2 | On Loan: No      |
| NAVER Corp.                                     | NAVER Corp. KRW100                                                      | CUSIP: 000000000<br>LEI: 988400ULUQYDB2HQYJ61 | Long             | EC               | CORP              | KR        |       450 | NS      | $61266.82     | 0.53%             |  |  |  | No            |                  2 | On Loan: No      |
| Hong Kong Exchanges & Clearing Ltd.             | Hong Kong Exchanges & Clearing Ltd. NPV                                 | CUSIP: 000000000<br>LEI: 213800YTVSXYQN17BW16 | Long             | EC               | CORP              | HK        |      5100 | NS      | $257284.79    | 2.22%             |  |  |  | No            |                  2 | On Loan: No      |
| ALIBABA GROUP HOLDING LTD                       | Alibaba Group Holding Ltd. SPONSORED ADS                                | CUSIP: 01609W102<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | KY        |      1800 | NS      | $225828.00    | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| TCOM/TRIP.COM GROUP LTD                         | Trip.com Group Ltd. ADS                                                 | CUSIP: 89677Q107<br>LEI: 2549004RMYDSRQL4KW41 | Long             | EC               | CORP              | KY        |      3950 | NS      | $196670.50    | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| ENN ENERGY HOLDINGS LTD                         | ENN Energy Holdings Ltd. HKD0.10                                        | CUSIP: 000000000<br>LEI: 549300V7BXPWT6WIPR03 | Long             | EC               | CORP              | KY        |     19800 | NS      | $161219.85    | 1.39%             |  |  |  | No            |                  2 | On Loan: No      |
| Prosus NV                                       | Prosus NV EUR0.05 (N SHARES)                                            | CUSIP: 000000000<br>LEI: 635400Z5LQ5F9OLVT688 | Long             | EC               | CORP              | NL        |      1940 | NS      | $89813.41     | 0.78%             |  |  |  | No            |                  2 | On Loan: No      |
| Singapore Technologies Engineering Ltd.         | Singapore Technologies Engineering Ltd. NPV                             | CUSIP: 000000000<br>LEI: 254900OEXGGWCR24DG90 | Long             | EC               | CORP              | SG        |     44000 | NS      | $373438.34    | 3.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Rio Tinto PLC                                   | Rio Tinto PLC SPONSORED ADR                                             | CUSIP: 767204100<br>LEI: 213800YOEO5OQ72G2R82 | Long             | EC               | CORP              | GB        |      1425 | NS      | $132938.25    | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsung Electronics Co Ltd.                     | Samsung Electronics Co Ltd. KRW100                                      | CUSIP: 000000000<br>LEI: 9884007ER46L6N7EI764 | Long             | EC               | CORP              | KR        |      9410 | NS      | $1100606.69   | 9.51%             |  |  |  | No            |                  2 | On Loan: No      |
| Bangkok Bank PCL                                | Bangkok Bank PCL THB10(ALIEN)                                           | CUSIP: 000000000<br>LEI: 549300CCL2BKJGMYXV60 | Long             | EC               | CORP              | TH        |     36500 | NS      | $186049.92    | 1.61%             |  |  |  | No            |                  2 | On Loan: No      |
| iShares Trust                                   | iShares Trust MSCI INDIA ETF                                            | CUSIP: 46429B598<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |      9750 | NS      | $456690.00    | 3.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Sinopharm Group Co Ltd.                         | Sinopharm Group Co Ltd. 'H'SHS CNY1                                     | CUSIP: 000000000<br>LEI: 529900N54X78YH9JYK92 | Long             | EC               | CORP              | CN        |     44900 | NS      | $116486.93    | 1.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Shinhan Financial Group Co Ltd.                 | Shinhan Financial Group Co Ltd. KRW5000                                 | CUSIP: 000000000<br>LEI: 988400EB8A6G49E5KO54 | Long             | EC               | CORP              | KR        |      4150 | NS      | $247345.64    | 2.14%             |  |  |  | No            |                  2 | On Loan: No      |
| Broadcom Inc                                    | Broadcom Inc COM                                                        | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |      2875 | NS      | $889841.25    | 7.69%             |  |  |  | No            |                  1 | On Loan: No      |
| FLEX LTD                                        | Flex Ltd. COM USD0.01                                                   | CUSIP: 000000000<br>LEI: 549300EAQH74YHD07T53 | Long             | EC               | CORP              | SG        |      4000 | NS      | $261840.00    | 2.26%             |  |  |  | No            |                  1 | On Loan: No      |
| SEA LTD                                         | Sea Ltd. SPONSORD ADS                                                   | CUSIP: 81141R100<br>LEI: 529900OM6JLLW44YKI15 | Long             | EC               | CORP              | KY        |      1225 | NS      | $101442.25    | 0.88%             |  |  |  | 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        |     97428 | NS      | $97427.92     | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| TENCENT HOLDINGS LTD                            | Tencent Holdings Ltd. HKD0.00002                                        | CUSIP: 000000000<br>LEI: 254900N4SLUMW4XUYY11 | Long             | EC               | CORP              | KY        |      8200 | NS      | $517193.53    | 4.47%             |  |  |  | No            |                  2 | On Loan: No      |
| BID CORP LTD                                    | Bid Corporation Limited NPV                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | ZA        |      7725 | NS      | $186071.09    | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Hanwha Aerospace Co Ltd                         | Hanwha Aerospace Co Ltd KRW5000                                         | CUSIP: 000000000<br>LEI: 9884001NSUA8FQKQWR25 | Long             | EC               | CORP              | KR        |       120 | NS      | $102324.80    | 0.88%             |  |  |  | No            |                  2 | On Loan: No      |
| Globant S.A                                     | Globant S.A USD1.20                                                     | CUSIP: 000000000<br>LEI: 2221008DCMSPYS42DS88 | Long             | EC               | CORP              | LU        |      1175 | NS      | $54179.25     | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Southern Copper Corporation                     | Southern Copper Corporation COM                                         | CUSIP: 84265V105<br>LEI: 2549007U6NAP46Q9TU15 | Long             | EC               | CORP              | US        |      1718 | NS      | $295599.08    | 2.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Bidvest Group Ltd.                              | Bidvest Group Ltd. ZAR0.05                                              | CUSIP: 000000000<br>LEI: 5299002ARE4TRMIRGM72 | Long             | EC               | CORP              | ZA        |      5525 | NS      | $74297.92     | 0.64%             |  |  |  | No            |                  1 | 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        |     16625 | NS      | $200978.26    | 1.74%             |  |  |  | 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        |     26900 | NS      | $206839.87    | 1.79%             |  |  |  | No            |                  2 | On Loan: No      |
| Nice Limited                                    | Nice Limited SPONSORED ADR                                              | CUSIP: 653656108<br>LEI: 254900YTY4EF5Z4W0A51 | Long             | EC               | CORP              | IL        |       500 | NS      | $55130.00     | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| SANDS CHINA LTD                                 | Sands China Ltd. USD0.01                                                | CUSIP: 000000000<br>LEI: 549300EVO6UZDGY05787 | Long             | EC               | CORP              | KY        |     42400 | NS      | $90368.73     | 0.78%             |  |  |  | No            |                  2 | On Loan: No      |
| Astra International Tbk PT                      | Astra International Tbk PT IDR50                                        | CUSIP: 000000000<br>LEI: 529900L49TRJOMG4DK47 | Long             | EC               | CORP              | ID        |    176000 | NS      | $64972.80     | 0.56%             |  |  |  | No            |                  2 | On Loan: No      |
| Meituan LLC                                     | Meituan LLC USD0.00001 B CLASS                                          | CUSIP: 000000000<br>LEI: 21380033K525E5JLIA77 | Long             | EC               | CORP              | KY        |      6820 | NS      | $74421.55     | 0.64%             |  |  |  | No            |                  2 | On Loan: No      |
| Mercadolibre Inc                                | Mercadolibre Inc COM                                                    | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | US        |        67 | NS      | $115844.34    | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| BAIDU INC                                       | Baidu Inc. SPON ADR REP A                                               | CUSIP: 056752108<br>LEI: 254900AL64IANZYI1E02 | Long             | EC               | CORP              | KY        |       925 | NS      | $103063.50    | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| DBS Group Holdings Ltd.                         | DBS Group Holdings Ltd. NPV                                             | CUSIP: 000000000<br>LEI: 5493007FKT78NKPM5V55 | Long             | EC               | CORP              | SG        |      7900 | NS      | $351551.01    | 3.04%             |  |  |  | No            |                  2 | On Loan: No      |
| AIA Group Ltd, Hong Kong                        | AIA Group Ltd, Hong Kong NPV                                            | CUSIP: 000000000<br>LEI: ZP5ILWVSYE4LJGMMVD57 | Long             | EC               | CORP              | HK        |     21400 | NS      | $237782.42    | 2.06%             |  |  |  | No            |                  2 | On Loan: No      |
| MAKEMYTRIP LTD                                  | MakeMyTrip Ltd. USD0.0005                                               | CUSIP: 000000000<br>LEI: 529900DNT8HNJ7RYUO60 | Long             | EC               | CORP              | MU        |       800 | NS      | $29832.00     | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| HDFC Bank Ltd.                                  | HDFC Bank Ltd. SPONSORED ADS                                            | CUSIP: 40415F101<br>LEI: 335800ZQ6I4E2JXENC50 | Long             | EC               | CORP              | IN        |      8750 | NS      | $217700.00    | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| POP MART INTERNATIONAL GROUP LTD                | Pop Mart International Group Limited USD0.0001                          | CUSIP: 000000000<br>LEI: 9845000A05E8F937E337 | Long             | EC               | CORP              | KY        |      2200 | NS      | $40927.38     | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| Cathay Financial Holding Co Ltd.                | Cathay Financial Holding Co Ltd. TWD10                                  | CUSIP: 000000000<br>LEI: 5299009XR1QLFAMQ3X77 | Long             | EC               | CORP              | TW        |     88784 | NS      | $198506.36    | 1.72%             |  |  |  | No            |                  2 | On Loan: No      |
| PT Xlsmart Telecom Sejahtera TBK                | PT Xlsmart Telecom Sejahtera TBK IDR100                                 | CUSIP: 000000000<br>LEI: 529900GV66NMGZLKFS48 | Long             | EC               | CORP              | ID        |    948800 | NS      | $166128.62    | 1.44%             |  |  |  | No            |                  2 | On Loan: No      |
| LG Chem Ltd                                     | LG Chem Ltd KRW5000                                                     | CUSIP: 000000000<br>LEI: 988400IES4EIG7O06940 | Long             | EC               | CORP              | KR        |       130 | NS      | $26571.91     | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| SK Hynix Inc.                                   | SK Hynix Inc. KRW5000                                                   | CUSIP: 000000000<br>LEI: 988400XAIK6XISWQV045 | Long             | EC               | CORP              | KR        |       650 | NS      | $368787.33    | 3.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Banco Bradesco SA                               | Banco Bradesco SA PRF NPV                                               | CUSIP: 000000000<br>LEI: 549300CTUU1RFXHQJE44 | Long             | EP               | CORP              | BR        |     30350 | NS      | $112380.28    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Naspers Limited                                 | Naspers Limited NPV(POST SPLT)                                          | CUSIP: 000000000<br>LEI: 21380044BQ8812EEKT59 | Long             | EC               | CORP              | ZA        |      7125 | NS      | $368554.94    | 3.19%             |  |  |  | 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