Sit Investment Associates Inc.

In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 13, 2024), Sit Investment Associates Inc. reported 536 stock positions worth $4.5 billion. Its top holding was Microsoft (MSFT) at 3.1% of the portfolio, followed by Apple (AAPL, 2.9%) and Nvidia (NVDA, 2.7%). Compared with Q2 2024, it opened 36 new positions, sold out of 30, added to 138 and reduced 194. The biggest buy was DWS Municipal Income Trust (KTF, shares +42%) and the biggest sale BlackRock Municipal Income (XMUIX, shares −96%).

Most Recent 13F
Q2 2026
Location
Minneapolis, MN
CIK
0000769317
Portfolio Value
$4.5B (Q3 2024)
SEC Filing
0000897101-24-000568 ↗ filed Nov 13, 2024

Holdings Value

0$2.0B$4.0B$6.0B Q1 2024: $4.3B Q1 2024 Q2 2024: $4.3B Q2 2024 Q3 2024: $4.5B $4.5B Q3 2024 Q4 2024: $4.4B Q4 2024 Q1 2025: $4.3B Q1 2025 Q2 2025: $4.7B Q2 2025 Q3 2025: $4.9B Q3 2025 Q4 2025: $5.1B Q4 2025 Q1 2026: $4.9B Q1 2026 Q2 2026: $5.3B Q2 2026

Holdings 536 stocks · $4.5B

MSFT Microsoft Corp. 3.12% 324,720 $139.7M Add +2.6%
AAPL Apple Inc. 2.89% 555,998 $129.5M Add +0.6%
NVDA Nvidia Corp. 2.72% 1,001,990 $121.7M Add +9.7%
AVGO Broadcom Inc. 2.20% 570,207 $98.4M Reduce -5.5%
KTF DWS Municipal Income Trust 1.90% 8,537,418 $85.1M Add +42.4%
PIM Franklin Master Interm IT-Ui filed as PUTNAM MASTER INTER INCOME T 1.72% 22,761,272 $77.2M Add +6.5%
PPT Franklin Premir Inc. Trust-Ui 1.68% 20,187,771 $75.3M Add +6.1%
MIN Aberdeen Intermediate Inc. FD 1.38% 22,709,427 $61.8M Add +4.0%
NBB Nuveen Taxable Municipal Inc. 1.31% 3,529,478 $58.6M Reduce -0.1%
BBN BlackRock Taxable Muni BND 1.30% 3,262,061 $58.1M Reduce -6.9%
BTZ BlackRock Credit Allocation 1.25% 4,947,390 $55.8M Reduce -3.9%
XEVVX Eaton Vance Ltd. Durat Inc. 1.19% 5,085,278 $53.4M Add +2.0%
GOOGL Alphabet Inc. Class A 1.11% 299,234 $49.6M Add +9.1%
AMZN Amazon.com Inc. 1.07% 257,888 $48.1M Add +19.2%
XNEAX Nuveen Amt-FR QLTY Muni Inc. 1.03% 3,851,767 $46.1M Reduce -19.8%
INSIGHT SELECT INCOME FUND 0.99% 2,504,246 $44.2M Add +2.0%
DBL Doubleline Opport Credit 0.97% 2,750,017 $43.5M Add +5.8%
FINS Angel Oak Financ Strat Inc. 0.97% 3,279,999 $43.4M Add +25.7%
JPC Nuveen Prefered & Income Opp 0.94% 5,229,530 $42.2M Reduce -15.7%
UNH Unitedhealth Group Inc. 0.92% 70,459 $41.2M Reduce -11.7%
NAD Nuveen Quality Municipal Inc. 0.86% 3,104,280 $38.4M Reduce -10.4%
PDX PIMCO Dynamic Income Strat 0.84% 1,598,080 $37.7M Add +34.6%
TSI TCW Strategic Income Fund 0.79% 6,863,555 $35.2M Reduce -1.1%
BTX BlackRock Tech & Priv Eqty 0.77% 4,560,653 $34.4M Reduce -13.0%
AMAT Applied Materials Inc. 0.77% 170,033 $34.4M Reduce -7.6%
JMM Nuveen Multi-Market Income 0.76% 5,382,454 $34.2M Add +0.8%
META Meta Platforms Inc. Class A 0.76% 59,313 $34.0M Add +20.4%
CB Chubb Ltd. 0.75% 116,174 $33.5M Reduce -3.0%
XHIEX Miller/Howard High Income Eq 0.73% 2,692,540 $32.8M Add +3.3%
FSCO FS Credit Opportunities Corp. 0.72% 5,065,920 $32.2M Add +47.1%
JHS John Hancock Income Sec TR 0.70% 2,687,969 $31.2M Add +5.4%
XEVMX Eaton Vance Cal Muni Bond 0.66% 3,058,410 $29.5M No change
JLS Nuveen Mortgage & Income 0.65% 1,576,905 $29.1M No change
ACN Accenture PLC Class A 0.65% 82,112 $29.0M Reduce -5.1%
VPV Invesco Pa Val Muni Inc. 0.64% 2,549,726 $28.8M Add +4.4%
XMIOX Pioneer Muni High Inc. Opp 0.64% 2,324,843 $28.8M Add +1.4%
FMY First Trust Mortgage Income 0.63% 2,252,324 $28.1M Add +0.1%
ECAT BlackRock ESG Cap All TRM TR 0.61% 1,551,817 $27.5M Reduce -16.6%
BKT BlackRock Income Trust 0.61% 2,183,923 $27.1M Reduce -3.5%
XNQPX Nuveen Pa QLTY Muni Inc. 0.59% 2,108,797 $26.6M Reduce -9.8%
NPFD Nuveen Var RT Pref & Inc. 0.59% 1,404,141 $26.6M Add +7.2%
MGF Aberdeen Govrn MKTS Inc. Fund 0.59% 7,986,480 $26.4M Add +9.0%
XNXJX Nuveen NJ QLTY Muni Inc. 0.59% 2,025,406 $26.4M Reduce -17.5%
VGM Invesco Trust for Investmen 0.59% 2,491,817 $26.3M Reduce -19.1%
JPM JPMorgan Chase & Co. 0.58% 123,875 $26.1M Reduce -17.6%
HD Home Depot Inc. 0.58% 63,836 $25.9M Reduce -6.1%
ANET Arista Networks Inc. 0.58% 67,162 $25.8M Add +2.5%
BMEZ BlackRock HLTH Sci TRM TR II 0.57% 1,599,107 $25.3M Reduce -5.5%
COP Conocophillips 0.56% 237,954 $25.1M Add +14.8%
ADBE Adobe Inc. 0.53% 46,263 $24.0M Add +19.1%
MUC BlackRock Munihold Ca QLTY 0.52% 2,029,402 $23.4M Reduce -23.6%
UNP Union Pacific Corp. 0.52% 94,400 $23.3M Reduce -2.0%
LLY Eli Lilly & Co. 0.52% 26,200 $23.2M Add +111.0%
V Visa Inc. Class A 0.51% 83,684 $23.0M Reduce -5.7%
NEW AMERICA HIGH INCOME FUND 0.50% 2,681,185 $22.3M Add +160.4%
VTN Invesco TR for Invest GRD NY 0.50% 1,931,660 $22.3M Reduce -1.2%
NVG Nuveen Amt-FR Muni CRDT 0.49% 1,633,152 $21.9M Reduce -21.7%
XENWX Eaton Vance New York Municip 0.49% 2,184,827 $21.8M No change
GS Goldman Sachs Group Inc. 0.47% 42,295 $20.9M Reduce -0.9%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.47% 177,790 $20.9M Reduce -11.7%
PEP Pepsico Inc. 0.46% 119,884 $20.4M Reduce -7.1%
ABT Abbott Laboratories 0.45% 178,034 $20.3M Reduce -9.4%
ORCL Oracle Corp. 0.44% 115,511 $19.7M Add +1.7%
XMHIX Pioneer Muni High Inc. TR 0.44% 2,042,856 $19.6M Add +2.7%
MMD Nylim Mackay Definedterm Mun filed as NYLI MACKAY DEFINEDTERM MUNI 0.43% 1,154,360 $19.5M Add +38.7%
AZN Astrazeneca PLC-Spons ADR 0.42% 239,900 $18.7M Reduce -5.6%
VKQ Invesco Municipal Trust 0.42% 1,812,320 $18.6M Reduce -28.5%
XEGFX BlackRock Enhanced Govern 0.41% 1,846,031 $18.5M Add +0.4%
HYI Western Asset High Yield Opp 0.41% 1,488,929 $18.4M Add +2.2%
MCD McDonald's Corp. 0.41% 60,049 $18.3M Reduce -8.1%
HON Honeywell International Inc. 0.40% 86,985 $18.0M Add +6.0%
GOOG Alphabet Inc. Class C 0.38% 101,625 $17.0M No change
XPMAX Pioneer Municipal High Inc. 0.38% 1,904,256 $16.8M Add +4.9%
CRM Salesforce Inc. 0.37% 61,211 $16.8M Reduce -0.1%
DMF BNYM Municipal Income filed as BNY MELLON MUN INCOME INC 0.37% 2,256,196 $16.5M Add +51.4%
TMO Thermo Fisher Scientific Inc. 0.37% 26,480 $16.4M Reduce -1.1%
ABBV Abbvie Inc. 0.36% 82,457 $16.3M Reduce -7.7%
GDO Western Ast GLB Corp. Opprnty 0.36% 1,245,063 $16.0M Add +1.1%
IGI Western Asst Inv GR Oppor TR 0.36% 886,269 $16.0M Add +11.4%
INTU Intuit Inc. 0.35% 25,587 $15.9M Reduce -4.0%
VMO Invesco Municipal Opport 0.34% 1,492,392 $15.3M Reduce -52.0%
MPWR Monolithic Power Systems Inc. 0.34% 16,509 $15.3M Add +10.1%
NBH Neuberger Municipal Fund Inc. 0.34% 1,363,240 $15.1M Add +21.3%
GD General Dynamics Corp. 0.34% 50,028 $15.1M Reduce -2.0%
XDCFX BNYM Alcentra GLBL CRDT 2024 filed as BNY MELLON ALCENTRA GLOBAL C 0.34% 1,639,141 $15.0M Add +22.2%
FDX FedEx Corp. 0.32% 52,061 $14.2M Reduce -19.2%
TEL Te Connectivity PLC 0.32% 93,901 $14.2M Add +2.7%
CPZ Calamos LNG/SHRT Eqty & DYN 0.31% 878,488 $13.8M Add +12.8%
NBXG Neuberger Next Generation Co. 0.30% 1,044,404 $13.4M Add +77.5%
ICE Intercontinental Exchange Inc. 0.30% 83,190 $13.4M Reduce -8.1%
GLO Clough Global Opportunities 0.29% 2,419,790 $13.2M Add +11.7%
LIN Linde PLC 0.29% 27,347 $13.0M Add +29.2%
NEE Nextera Energy Inc. 0.29% 153,189 $12.9M Reduce -11.9%
LNG Cheniere Energy Inc. 0.29% 71,243 $12.8M Reduce -3.7%
VGI Virtus Global Multi-Sector 0.28% 1,577,004 $12.8M Add +2.8%
ETN Eaton Corp. PLC 0.28% 38,331 $12.7M Add +8.4%
BAH Booz Allen Hamilton Holdings 0.28% 77,875 $12.7M Reduce -19.4%
NOW ServiceNow Inc. 0.28% 14,061 $12.6M Add +32.7%
NPCT Nuveen Core Plus Impact 0.28% 1,060,976 $12.6M Reduce -31.9%
NRK Nuveen NY Amt-FR Muni Inc. 0.27% 1,094,399 $12.3M Reduce -30.5%

Show all 536 holdings

Other holdings (4): bonds, preferreds, convertibles and warrants · $574K (not counted above)
SecurityClassShares / PrincipalValueChange
NATIONAL RURAL UTIL COOP (NRUC 5.5 05/15/64 US) PFD 20,000$497KNo change
ADVENT CONVERTIBLE AND INCOM RIGHT 10/17/2024 2,263,623$45KNew
WESTERN ASSET GLOBAL HIGH-RT RIGHT 10/08/2024 2,930,620$32KAdd +5405.9%
GABELLI UTILITY TRUST/THE RIGHT 10/21/2024 10,000$0New

Total filed on the 13F, all lines: $4.5B.

Portfolio Sells Q2 2024 → Q3 2024

XMUIX BlackRock Municipal Income Reduce -95.8% 0.03% −0.78
CLM Cornerstone Strategic Invest Sold out 0.00% −0.62
EIM Eaton Vance Municipal Bond Reduce -70.7% 0.22% −0.54
VMO Invesco Municipal Opport Reduce -52.0% 0.34% −0.38
ZTR Virtus Total Return Fund Inc. Sold out 0.00% −0.28
XNEAX Nuveen Amt-FR QLTY Muni Inc. Reduce -19.8% 1.03% −0.24
XJPIX Nuveen Preferred Securities Sold out 0.00% −0.24
AMAT Applied Materials Inc. Reduce -7.6% 0.77% −0.23
XAXCX Invesco DYNM CRDT Opprt-Ax Reduce -78.4% 0.06% −0.22
XOM Exxon Mobil Corp. Reduce -54.8% 0.18% −0.22
JNJ Johnson & Johnson Reduce -72.0% 0.09% −0.21
XBFZX BlackRock Ca Muni Inc. TR Reduce -64.6% 0.11% −0.21
FSD First Trust High Income Long Sold out 0.00% −0.20
ADX Adams Diversified Equity Sold out 0.00% −0.17
VKQ Invesco Municipal Trust Reduce -28.5% 0.42% −0.17
MUC BlackRock Munihold Ca QLTY Reduce -23.6% 0.52% −0.16
ISD Pgim High Yield Bond Fund Sold out 0.00% −0.16
VGM Invesco Trust for Investmen Reduce -19.1% 0.59% −0.14
ECAT BlackRock ESG Cap All TRM TR Reduce -16.6% 0.61% −0.14
NRK Nuveen NY Amt-FR Muni Inc. Reduce -30.5% 0.27% −0.13
FDX FedEx Corp. Reduce -19.2% 0.32% −0.13
NMAI Nuveen Multi-Asset Income Reduce -43.3% 0.18% −0.13
BCAT BlackRock Capital Alloc TR Sold out 0.00% −0.12
JPC Nuveen Prefered & Income Opp Reduce -15.7% 0.94% −0.12
C Citigroup Inc. Reduce -52.4% 0.10% −0.12
JPM JPMorgan Chase & Co. Reduce -17.6% 0.58% −0.12
LHX L3HARRIS Technologies Inc. Reduce -77.7% 0.03% −0.11
NVG Nuveen Amt-FR Muni CRDT Reduce -21.7% 0.49% −0.11
NPCT Nuveen Core Plus Impact Reduce -31.9% 0.28% −0.11
MYN BlackRock Muniyield NY QLTY Reduce -93.5% 0.01% −0.11
BTX BlackRock Tech & Priv Eqty Reduce -13.0% 0.77% −0.10
XNXJX Nuveen NJ QLTY Muni Inc. Reduce -17.5% 0.59% −0.10
GRMN Garmin Ltd. Reduce -50.8% 0.10% −0.09
WM Waste Management Inc. Reduce -30.8% 0.18% −0.09
SIEGY Siemens AG-Spons ADR Reduce -31.2% 0.23% −0.09
DELL Dell Technologies -C Reduce -44.5% 0.08% −0.09
WIW Western Asst Infl-LNK Opp Reduce -69.6% 0.04% −0.09
FTF Franklin Ltd. Dur Inc. TR Reduce -42.8% 0.12% −0.08
NVO Novo-Nordisk A/S-Spons ADR Reduce -5.2% 0.26% −0.08
CEV Eaton Vance Ca Muni Inc. TRST Reduce -79.0% 0.02% −0.08
NAD Nuveen Quality Municipal Inc. Reduce -10.4% 0.86% −0.08
MPA BlackRock Muniyield Pa Qltyv Reduce -84.0% 0.01% −0.08
EMO Clearbridge Energy Midstream Reduce -71.9% 0.03% −0.07
WDI Western Asset Divers Inc. Reduce -89.9% 0.01% −0.07
XNQPX Nuveen Pa QLTY Muni Inc. Reduce -9.8% 0.59% −0.06
TFII Tfi International Inc. Reduce -34.8% 0.09% −0.06
MHN BlackRock Muniholding NY QLT Reduce -94.1% 0.00% −0.06
VBF Invesco Bond Fund Reduce -39.2% 0.10% −0.06
ASGI Abrdn Global Infrastructure Sold out 0.00% −0.06
BAH Booz Allen Hamilton Holdings Reduce -19.4% 0.28% −0.06

Portfolio Buys Q2 2024 → Q3 2024

KTF DWS Municipal Income Trust Add +42.4% 1.90% +0.59
NEW AMERICA HIGH INCOME FUND Add +160.4% 0.50% +0.32
LLY Eli Lilly & Co. Add +111.0% 0.52% +0.26
XGDVX Gabelli Dividend & Income TR New 0.24% +0.24
PDX PIMCO Dynamic Income Strat Add +34.6% 0.84% +0.23
FINS Angel Oak Financ Strat Inc. Add +25.7% 0.97% +0.23
GGT Gabelli Multimedia Trust Inc. Add +9811.8% 0.22% +0.22
FSCO FS Credit Opportunities Corp. Add +47.1% 0.72% +0.21
AAPL Apple Inc. Add +0.6% 2.89% +0.21
GAM General American Investors New 0.21% +0.21
META Meta Platforms Inc. Class A Add +20.4% 0.76% +0.19
NXG NXG Nextgen Infrastr Inc. Add +658.6% 0.20% +0.18
XBOEX BlackRock Enh GLBL DVD TR Add +317.8% 0.23% +0.18
CHRW C.H. Robinson Worldwide Inc. New 0.17% +0.17
PEG Public Service Enterprise GP Add +2362.7% 0.15% +0.15
QCOM Qualcomm Inc. Add +2953.2% 0.15% +0.15
FITB Fifth Third Bancorp New 0.14% +0.14
PIM Franklin Master Interm IT-Ui Add +6.5% 1.72% +0.14
BCX BlackRock Resources & Commod Add +310.3% 0.16% +0.12
NBXG Neuberger Next Generation Co. Add +77.5% 0.30% +0.12
DMF BNYM Municipal Income Add +51.4% 0.37% +0.12
CTRE Caretrust REIT Inc. Add +2657.7% 0.12% +0.12
NVDA Nvidia Corp. Add +9.7% 2.72% +0.12
MMD Nylim Mackay Definedterm Mun Add +38.7% 0.43% +0.12
XBGYX BlackRock Enh Intl DVD TR Add +377.4% 0.14% +0.11
PPT Franklin Premir Inc. Trust-Ui Add +6.1% 1.68% +0.11
ACP Abrdn Income Credit Strat New 0.11% +0.11
AMZN Amazon.com Inc. Add +19.2% 1.07% +0.11
XTTPX Tortoise Pipeline & Energy Add +33393.7% 0.11% +0.11
PCF High Income Securities Fund Add +69242.3% 0.11% +0.11
TYG Tortoise Energy Infrastruct Add +392.9% 0.12% +0.09
SDHY Pgim SHRT Durat Hi YLD Add +155.1% 0.14% +0.09
BAC Bank of America Corp. Add +354.6% 0.12% +0.09
NOW ServiceNow Inc. Add +32.7% 0.28% +0.09
VRT Vertiv Holdings Co. Class A Add +409.9% 0.10% +0.08
NFLX Netflix Inc. Add +57.9% 0.22% +0.08
XTPZX Tortoise Power & Enrgy Infra New 0.08% +0.08
CSCO Cisco Systems Inc. Add +86.6% 0.15% +0.08
HQL Abrdn Life Sciences Investor Add +116.5% 0.14% +0.08
LIN Linde PLC Add +29.2% 0.29% +0.08
DCI Donaldson Co. Inc. Add +98.3% 0.16% +0.08
XEVVX Eaton Vance Ltd. Durat Inc. Add +2.0% 1.19% +0.08
MGF Aberdeen Govrn MKTS Inc. Fund Add +9.0% 0.59% +0.07
ERC Allspring Multi-Sector Inc. Add +196.3% 0.11% +0.07
ACHC Acadia Healthcare Co. Inc. New 0.07% +0.07
ORCL Oracle Corp. Add +1.7% 0.44% +0.07
DDOG Datadog Inc. Class A New 0.07% +0.07
AGX Argan Inc. New 0.07% +0.07
INSIGHT SELECT INCOME FUND Add +2.0% 0.99% +0.06
XDCFX BNYM Alcentra GLBL CRDT 2024 Add +22.2% 0.34% +0.06

Notes & Other Activity Q2 2024 → Q3 2024

BRC GROUP HOLDINGS INC (RILY 5.5 03/31/26) PFD Sold out 40,000 $850Kbefore exit
ATLANTICUS HOLDINGS CORP (ATLC 6.125 11/30/26) Pref Sold out 18,000 $404Kbefore exit
NXG NEXTGEN INFRAS RIGHT 07/17/2024 Sold out 179,514 $99Kbefore exit
ADVENT CONVERTIBLE AND INCOM RIGHT 10/17/2024 New 2,263,623 $45K
WESTERN ASSET GLOBAL HIGH-RT RIGHT 10/08/2024 Add +5405.9% 2,930,620 $32K
GABELLI UTILITY TRUST/THE RIGHT 10/21/2024 New 10,000 $0

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 521$5.3BNVDA, AVGO, FINS, AAPL, BBN
Q1 2026 498$4.9BNVDA, FINS, AVGO, BBN, AAPL
Q4 2025Amended 512$5.1BNVDA, AVGO, FINS, MSFT, AAPL
Q3 2025 512$4.9BNVDA, AVGO, MSFT, FINS, AAPL
Q2 2025 520$4.7BMSFT, NVDA, AVGO, FINS, AAPL
Q1 2025 521$4.3BMSFT, AAPL, NVDA, AVGO, KTF
Q4 2024 529$4.4BMSFT, AAPL, NVDA, AVGO, KTF
Q3 2024 536$4.5BMSFT, AAPL, NVDA, AVGO, KTF
Q2 2024 529$4.3BMSFT, AAPL, NVDA, AVGO, PIM
Q1 2024 520$4.3BMSFT, AAPL, AVGO, NVDA, PPT