# EDGAR Filing Document

**Accession Number:** 0000877880
**File Stem:** 0000940400-26-007084
**Filing Date:** 2026-2
**Character Count:** 17974
**Document Hash:** 072ad8afc8b5732ab32a9b8a3f5064ad
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-007084.hdr.sgml**: 20260223

**ACCESSION NUMBER**: 0000940400-26-007084

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260223

**DATE AS OF CHANGE**: 20260223

**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:** 26664170

**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           |

## 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:** 2025-12-31

**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:** $11794134.06

**Total Liabilities:** $12580.68

**Net Assets:** $11781553.38

**Cash Not Reported:** $915.18

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000009597 | 5.81%                | -2.28%               | 3.13%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-622.72                 | $639137.00                                 |
| Month 2  | $134629.92               | $-399251.79                                |
| Month 3  | $33855.47                | $307406.50                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Naspers Ltd                    | Naspers Ltd                               | CUSIP: 000000000<br>LEI: 21380044BQ8812EEKT59 | Long             | EC               | CORP              | ZA        |      7125 | NS      | $475219.43    | 4.03%             |  |  |  | No            |                  1 | On Loan: No      |
| HKEX                           | Hong Kong Exchanges & Clearing Ltd        | CUSIP: 000000000<br>LEI: 213800YTVSXYQN17BW16 | Long             | EC               | CORP              | HK        |      5100 | NS      | $267100.11    | 2.27%             |  |  |  | No            |                  1 | On Loan: No      |
| ST Engineering                 | Singapore Technologies Engineering Ltd    | CUSIP: 000000000<br>LEI: 254900OEXGGWCR24DG90 | Long             | EC               | CORP              | SG        |     44000 | NS      | $288221.57    | 2.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Flex Ltd                       | Flex Ltd                                  | CUSIP: 000000000<br>LEI: 549300EAQH74YHD07T53 | Long             | EC               | CORP              | US        |      4000 | NS      | $241680.00    | 2.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Baidu Inc                      | Baidu Inc                                 | CUSIP: 056752108<br>LEI: 254900AL64IANZYI1E02 | Long             | EC               | CORP              | CN        |       925 | NS      | $120860.50    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Banco Santander Chile          | Banco Santander Chile                     | CUSIP: 05965X109<br>LEI: 3YJP8HORPAEXJ80D6368 | Long             | EC               | CORP              | CL        |      4700 | NS      | $146217.00    | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| TSMC                           | Taiwan Semiconductor Manufacturing Co Ltd | CUSIP: 000000000<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |     35482 | NS      | $1750357.25   | 14.86%            |  |  |  | No            |                  1 | On Loan: No      |
| Pop Mart International Group L | Pop Mart International Group Ltd          | CUSIP: 000000000<br>LEI: 9845000A05E8F937E337 | Long             | EC               | CORP              | CN        |      2200 | NS      | $53058.71     | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| ENN Energy Holdings Ltd        | ENN Energy Holdings Ltd                   | CUSIP: 000000000<br>LEI: 549300V7BXPWT6WIPR03 | Long             | EC               | CORP              | CN        |     19800 | NS      | $176052.01    | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| XLSMART Telecom Sejahtera Tbk  | XLSMART Telecom Sejahtera Tbk PT          | CUSIP: 000000000<br>LEI: 529900GV66NMGZLKFS48 | Long             | EC               | CORP              | ID        |    948800 | NS      | $213373.31    | 1.81%             |  |  |  | No            |                  1 | On Loan: No      |
| AIA Group Ltd                  | AIA Group Ltd                             | CUSIP: 000000000<br>LEI: ZP5ILWVSYE4LJGMMVD57 | Long             | EC               | CORP              | HK        |     21400 | NS      | $219700.10    | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| MakeMyTrip Ltd                 | MakeMyTrip Ltd                            | CUSIP: 000000000<br>LEI: 529900DNT8HNJ7RYUO60 | Long             | EC               | CORP              | IN        |       800 | NS      | $65696.00     | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Bid Corp Ltd                   | Bid Corp Ltd                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | ZA        |      7725 | NS      | $196796.24    | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Prosus NV                      | Prosus NV                                 | CUSIP: 000000000<br>LEI: 635400Z5LQ5F9OLVT688 | Long             | EC               | CORP              | NL        |      1940 | NS      | $120492.08    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Fomento Economico Mexicano SAB | Fomento Economico Mexicano SAB de CV      | CUSIP: 344419106<br>LEI: 549300A8MDWDJNMLV153 | Long             | EC               | CORP              | MX        |      1575 | NS      | $159185.25    | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| NAVER Corp                     | NAVER Corp                                | CUSIP: 000000000<br>LEI: 988400ULUQYDB2HQYJ61 | Long             | EC               | CORP              | KR        |       450 | NS      | $75752.32     | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Bangkok Bank PCL               | Bangkok Bank PCL                          | CUSIP: 000000000<br>LEI: 549300CCL2BKJGMYXV60 | Long             | EC               | CORP              | TH        |     36500 | NS      | $196373.59    | 1.67%             |  |  |  | No            |                  2 | On Loan: No      |
| Shinhan Financial Group Co Ltd | Shinhan Financial Group Co Ltd            | CUSIP: 000000000<br>LEI: 988400EB8A6G49E5KO54 | Long             | EC               | CORP              | KR        |      4150 | NS      | $221536.91    | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Alibaba Group Holding Ltd      | Alibaba Group Holding Ltd                 | CUSIP: 01609W102<br>LEI: 5493001NTNQJDH60PM02 | Long             | EC               | CORP              | HK        |      1015 | NS      | $148778.70    | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| MercadoLibre Inc               | MercadoLibre Inc                          | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | UY        |        55 | NS      | $110784.30    | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Fidelity Government Portfolio  | Fidelity Government Portfolio             | CUSIP: 316175108<br>LEI: 549300FQDFZGLUOCWN51 | Long             | STIV             | RF                | US        |    479510 | NS      | $479510.13    | 4.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Banco Bradesco SA              | Banco Bradesco SA                         | CUSIP: 000000000<br>LEI: 549300CTUU1RFXHQJE44 | Long             | EP               | CORP              | BR        |     30350 | NS      | $100746.66    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| HDFC Bank Ltd                  | HDFC Bank Ltd                             | CUSIP: 40415F101<br>LEI: 335800ZQ6I4E2JXENC50 | Long             | EC               | CORP              | IN        |      8750 | NS      | $319725.00    | 2.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Tencent Holdings Ltd           | Tencent Holdings Ltd                      | CUSIP: 000000000<br>LEI: 254900N4SLUMW4XUYY11 | Long             | EC               | CORP              | CN        |      8200 | NS      | $631117.74    | 5.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Sands China Ltd                | Sands China Ltd                           | CUSIP: 000000000<br>LEI: 549300EVO6UZDGY05787 | Long             | EC               | CORP              | MO        |     42400 | NS      | $106780.42    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Sinopharm Group Co Ltd         | Sinopharm Group Co Ltd                    | CUSIP: 000000000<br>LEI: 529900N54X78YH9JYK92 | Long             | EC               | CORP              | CN        |     44900 | NS      | $112153.37    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Southern Copper Corp           | Southern Copper Corp                      | CUSIP: 84265V105<br>LEI: 2549007U6NAP46Q9TU15 | Long             | EC               | CORP              | US        |      1704 | NS      | $244472.88    | 2.08%             |  |  |  | No            |                  1 | On Loan: No      |
| DBS Group Holdings Ltd         | DBS Group Holdings Ltd                    | CUSIP: 000000000<br>LEI: 5493007FKT78NKPM5V55 | Long             | EC               | CORP              | SG        |      7900 | NS      | $346385.56    | 2.94%             |  |  |  | No            |                  1 | On Loan: No      |
| LG Chem Ltd                    | LG Chem Ltd                               | CUSIP: 000000000<br>LEI: 988400IES4EIG7O06940 | Long             | EC               | CORP              | KR        |       130 | NS      | $30051.02     | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsung Electronics Co Ltd     | Samsung Electronics Co Ltd                | CUSIP: 000000000<br>LEI: 9884007ER46L6N7EI764 | Long             | EC               | CORP              | KR        |      9410 | NS      | $783214.05    | 6.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Cathay Financial Holding Co Lt | Cathay Financial Holding Co Ltd           | CUSIP: 000000000<br>LEI: 5299009XR1QLFAMQ3X77 | Long             | EC               | CORP              | TW        |     88784 | NS      | $214185.87    | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares MSCI India ETF         | iShares MSCI India ETF                    | CUSIP: 46429B598<br>LEI: 549300282VMCFH7S5848 | Long             | EC               | RF                | US        |      9750 | NS      | $526987.50    | 4.47%             |  |  |  | No            |                  1 | On Loan: No      |
| SK hynix Inc                   | SK hynix Inc                              | CUSIP: 000000000<br>LEI: 988400XAIK6XISWQV045 | Long             | EC               | CORP              | KR        |       650 | NS      | $293741.97    | 2.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Nice Ltd                       | Nice Ltd                                  | CUSIP: 653656108<br>LEI: 254900YTY4EF5Z4W0A51 | Long             | EC               | CORP              | IL        |       500 | NS      | $56520.00     | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| PING AN                        | Ping An Insurance Group Co of China Ltd   | CUSIP: 000000000<br>LEI: 529900M9MC28JLN35U89 | Long             | EC               | CORP              | CN        |     26900 | NS      | $225183.42    | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Astra International Tbk PT     | Astra International Tbk PT                | CUSIP: 000000000<br>LEI: 529900L49TRJOMG4DK47 | Long             | EC               | CORP              | ID        |    176000 | NS      | $70716.64     | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Bidvest Group Ltd              | Bidvest Group Ltd                         | CUSIP: 000000000<br>LEI: 5299002ARE4TRMIRGM72 | Long             | EC               | CORP              | ZA        |      5525 | NS      | $79235.04     | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Globant SA                     | Globant SA                                | CUSIP: 000000000<br>LEI: 2221008DCMSPYS42DS88 | Long             | EC               | CORP              | LU        |      1175 | NS      | $76809.75     | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Meituan                        | Meituan                                   | CUSIP: 000000000<br>LEI: 21380033K525E5JLIA77 | Long             | EC               | CORP              | CN        |      6820 | NS      | $90522.06     | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Sea Ltd                        | Sea Ltd                                   | CUSIP: 81141R100<br>LEI: 529900OM6JLLW44YKI15 | Long             | EC               | CORP              | SG        |      1225 | NS      | $156273.25    | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom Inc                   | Broadcom Inc                              | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |      2875 | NS      | $995037.50    | 8.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Hon Hai Precision Industry Co  | Hon Hai Precision Industry Co Ltd         | CUSIP: 438090805<br>LEI: 30030004CM3GSZXX7O56 | Long             | EC               | CORP              | TW        |     16625 | NS      | $242392.50    | 2.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Rio Tinto PLC                  | Rio Tinto PLC                             | CUSIP: 767204100<br>LEI: 213800YOEO5OQ72G2R82 | Long             | EC               | CORP              | GB        |      1425 | NS      | $114042.75    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Trip.com Group Ltd             | Trip.com Group Ltd                        | CUSIP: 89677Q107<br>LEI: 2549004RMYDSRQL4KW41 | Long             | EC               | CORP              | SG        |      3275 | NS      | $235505.25    | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-02-21

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

**Signature:** Paul Rasmussen

**Name of Signer:** Paul Rasmussen

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