Sit Investment Associates Inc.
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 13, 2025), Sit Investment Associates Inc. reported 529 stock positions worth $4.4 billion. Its top holding was Microsoft (MSFT) at 2.9% of the portfolio, followed by Apple (AAPL, 2.9%) and Nvidia (NVDA, 2.7%). Compared with Q3 2024, it opened 19 new positions, sold out of 26, added to 142 and reduced 173. The biggest buy was Advent Convert & Income (AVK, shares +3605%) and the biggest sale an exit from Miller/Howard High Income Eq (XHIEX).
- Most Recent 13F
- Q2 2026
- Location
- Minneapolis, MN
- CIK
- 0000769317
- Portfolio Value
- $4.4B (Q4 2024)
- SEC Filing
- 0000897101-25-000095 ↗ filed Feb 13, 2025
Holdings Value
Holdings 529 stocks · $4.4B
| MSFT Microsoft Corp. | 2.90% | 303,488 | $127.9M | Reduce -6.5% |
| AAPL Apple Inc. | 2.86% | 503,559 | $126.1M | Reduce -9.4% |
| NVDA Nvidia Corp. | 2.73% | 894,186 | $120.1M | Reduce -10.8% |
| AVGO Broadcom Inc. | 2.68% | 509,836 | $118.2M | Reduce -10.6% |
| KTF DWS Municipal Income Trust | 1.93% | 8,977,294 | $84.8M | Add +5.2% |
| PPT Franklin Premir Inc. Trust-Ui | 1.77% | 21,876,912 | $77.9M | Add +8.4% |
| PIM Franklin Master Interm IT-Ui filed as PUTNAM MASTER INTER INCOME T | 1.70% | 22,984,308 | $74.9M | Add +1.0% |
| BBN BlackRock Taxable Muni BND | 1.60% | 4,373,635 | $70.5M | Add +34.1% |
| FINS Angel Oak Financ Strat Inc. | 1.49% | 5,157,564 | $65.5M | Add +57.2% |
| MIN Aberdeen Intermediate Inc. FD | 1.46% | 24,232,895 | $64.5M | Add +6.7% |
| NBB Nuveen Taxable Municipal Inc. | 1.26% | 3,695,781 | $55.4M | Add +4.7% |
| BTZ BlackRock Credit Allocation | 1.23% | 5,161,376 | $54.0M | Add +4.3% |
| AMZN Amazon.com Inc. | 1.21% | 243,003 | $53.3M | Reduce -5.8% |
| GOOGL Alphabet Inc. Class A | 1.19% | 275,963 | $52.2M | Reduce -7.8% |
| AVK Advent Convert & Income | 1.16% | 4,355,074 | $51.3M | Add +3605.3% |
| XEVVX Eaton Vance Ltd. Durat Inc. | 1.14% | 5,147,342 | $50.3M | Add +1.2% |
| DBL Doubleline Opport Credit | 1.03% | 2,941,083 | $45.6M | Add +7.0% |
| INSIGHT SELECT INCOME FUND | 0.98% | 2,482,085 | $43.0M | Reduce -0.9% |
| META Meta Platforms Inc. Class A | 0.86% | 64,956 | $38.0M | Add +9.5% |
| JPC Nuveen Prefered & Income Opp | 0.85% | 4,747,959 | $37.3M | Reduce -9.2% |
| NPFD Nuveen Var RT Pref & Inc. | 0.80% | 1,922,761 | $35.1M | Add +36.9% |
| FSCO FS Credit Opportunities Corp. | 0.78% | 5,035,142 | $34.3M | Reduce -0.6% |
| JMM Nuveen Multi-Market Income | 0.77% | 5,575,283 | $33.7M | Add +3.6% |
| TSI TCW Strategic Income Fund | 0.76% | 6,916,611 | $33.3M | Add +0.8% |
| EHI Western Asset Global High Inc. | 0.74% | 4,895,479 | $32.7M | Add +3634.2% |
| BTX BlackRock Tech & Priv Eqty | 0.74% | 4,376,787 | $32.6M | Reduce -4.0% |
| UNH Unitedhealth Group Inc. | 0.72% | 62,896 | $31.8M | Reduce -10.7% |
| JHS John Hancock Income Sec TR | 0.72% | 2,833,028 | $31.7M | Add +5.4% |
| CB Chubb Ltd. | 0.71% | 112,499 | $31.1M | Reduce -3.2% |
| NAD Nuveen Quality Municipal Inc. | 0.70% | 2,658,500 | $31.0M | Reduce -14.4% |
| XEVMX Eaton Vance Cal Muni Bond | 0.69% | 3,291,998 | $30.2M | Add +7.6% |
| XMIOX Pioneer Muni High Inc. Opp | 0.68% | 2,530,477 | $30.0M | Add +8.8% |
| ANET Arista Networks Inc. | 0.66% | 264,033 | $29.2M | Reduce -1.7% |
| XNEAX Nuveen Amt-FR QLTY Muni Inc. | 0.64% | 2,500,710 | $28.2M | Reduce -35.1% |
| JLS Nuveen Mortgage & Income | 0.63% | 1,549,364 | $27.9M | Reduce -1.8% |
| ACN Accenture PLC Class A | 0.63% | 78,932 | $27.8M | Reduce -3.9% |
| FMY First Trust Mortgage Income | 0.61% | 2,253,141 | $27.0M | Add +0.0% |
| MGF Aberdeen Govrn MKTS Inc. Fund | 0.58% | 8,277,496 | $25.4M | Add +3.6% |
| JPM JPMorgan Chase & Co. | 0.58% | 105,802 | $25.4M | Reduce -14.6% |
| CRM Salesforce Inc. | 0.57% | 74,566 | $24.9M | Add +21.8% |
| BMEZ BlackRock HLTH Sci TRM TR II | 0.56% | 1,724,706 | $24.8M | Add +7.8% |
| ECAT BlackRock ESG Cap All TRM TR | 0.56% | 1,492,534 | $24.5M | Reduce -3.8% |
| V Visa Inc. Class A | 0.55% | 76,201 | $24.1M | Reduce -8.9% |
| XENWX Eaton Vance New York Municip | 0.53% | 2,453,413 | $23.4M | Add +12.3% |
| VGM Invesco Trust for Investmen | 0.52% | 2,286,766 | $23.1M | Reduce -8.2% |
| COP Conocophillips | 0.52% | 231,159 | $22.9M | Reduce -2.9% |
| GS Goldman Sachs Group Inc. | 0.52% | 39,750 | $22.8M | Reduce -6.0% |
| LLY Eli Lilly & Co. | 0.51% | 29,218 | $22.6M | Add +11.5% |
| NEW AMERICA HIGH INCOME FUND | 0.51% | 2,758,596 | $22.5M | Add +2.9% |
| BKT BlackRock Income Trust | 0.51% | 1,948,403 | $22.4M | Reduce -10.8% |
| HD Home Depot Inc. | 0.51% | 57,501 | $22.4M | Reduce -9.9% |
| AMAT Applied Materials Inc. | 0.50% | 134,146 | $21.8M | Reduce -21.1% |
| XNQPX Nuveen Pa QLTY Muni Inc. | 0.49% | 1,950,191 | $21.8M | Reduce -7.5% |
| DMF BNYM Municipal Income filed as BNY MELLON MUN INCOME INC | 0.48% | 3,000,682 | $21.3M | Add +33.0% |
| XMHIX Pioneer Muni High Inc. TR | 0.48% | 2,298,892 | $21.3M | Add +12.5% |
| XGDVX Gabelli Dividend & Income TR | 0.46% | 847,280 | $20.5M | Add +91.5% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.46% | 168,870 | $20.4M | Reduce -5.0% |
| MUC BlackRock Munihold Ca QLTY | 0.46% | 1,914,224 | $20.3M | Reduce -5.7% |
| ABT Abbott Laboratories | 0.45% | 175,934 | $19.9M | Reduce -1.2% |
| PDX PIMCO Dynamic Income Strat | 0.45% | 754,166 | $19.7M | Reduce -52.8% |
| ORCL Oracle Corp. | 0.43% | 115,026 | $19.2M | Reduce -0.4% |
| ADBE Adobe Inc. | 0.42% | 41,659 | $18.5M | Reduce -9.9% |
| XNXJX Nuveen NJ QLTY Muni Inc. | 0.41% | 1,496,588 | $18.2M | Reduce -26.1% |
| GOOG Alphabet Inc. Class C | 0.41% | 94,725 | $18.0M | Reduce -6.8% |
| PEP Pepsico Inc. | 0.41% | 118,249 | $18.0M | Reduce -1.4% |
| XEGFX BlackRock Enhanced Govern | 0.41% | 1,839,198 | $17.9M | Reduce -0.4% |
| XPMAX Pioneer Municipal High Inc. | 0.40% | 2,112,515 | $17.8M | Add +10.9% |
| HYI Western Asset High Yield Opp | 0.40% | 1,488,929 | $17.6M | No change |
| NBXG Neuberger Next Generation Co. | 0.39% | 1,352,512 | $17.2M | Add +29.5% |
| VKQ Invesco Municipal Trust | 0.39% | 1,754,138 | $17.2M | Reduce -3.2% |
| ABBV Abbvie Inc. | 0.36% | 90,228 | $16.0M | Add +9.4% |
| MCD McDonald's Corp. | 0.36% | 55,230 | $16.0M | Reduce -8.0% |
| INTU Intuit Inc. | 0.35% | 24,492 | $15.4M | Reduce -4.3% |
| WMB Williams Cos Inc. | 0.34% | 276,110 | $14.9M | Add +2.9% |
| CPZ Calamos LNG/SHRT Eqty & DYN | 0.34% | 1,007,522 | $14.9M | Add +14.7% |
| EIM Eaton Vance Municipal Bond | 0.34% | 1,438,451 | $14.9M | Add +57.5% |
| NOW ServiceNow Inc. | 0.32% | 13,478 | $14.3M | Reduce -4.2% |
| XBOEX BlackRock Enh GLBL DVD TR | 0.32% | 1,315,521 | $14.2M | Add +44.0% |
| TEAM Atlassian Corp. Class A | 0.31% | 56,702 | $13.8M | Add +4.5% |
| TEL Te Connectivity PLC | 0.31% | 95,172 | $13.6M | Add +1.4% |
| LIN Linde PLC | 0.31% | 32,315 | $13.5M | Add +18.2% |
| PG The Procter & Gamble Co. | 0.31% | 80,245 | $13.5M | Add +14.8% |
| VMO Invesco Municipal Opport | 0.30% | 1,373,565 | $13.4M | Reduce -8.0% |
| LNG Cheniere Energy Inc. | 0.30% | 62,044 | $13.3M | Reduce -12.9% |
| HON Honeywell International Inc. | 0.30% | 58,965 | $13.3M | Reduce -32.2% |
| XMCRX MFS Charter Income Trust | 0.30% | 2,081,087 | $13.3M | Add +30.8% |
| NBH Neuberger Municipal Fund Inc. | 0.30% | 1,279,509 | $13.2M | Reduce -6.1% |
| GLO Clough Global Opportunities | 0.30% | 2,543,279 | $13.0M | Add +5.1% |
| SRV NXG Cushing Midstream Energy | 0.30% | 292,675 | $13.0M | Add +3678.4% |
| VGI Virtus Global Multi-Sector | 0.29% | 1,694,022 | $12.9M | Add +7.4% |
| ETN Eaton Corp. PLC | 0.29% | 38,939 | $12.9M | Add +1.6% |
| TMO Thermo Fisher Scientific Inc. | 0.29% | 24,547 | $12.8M | Reduce -7.3% |
| FDX FedEx Corp. | 0.28% | 44,611 | $12.6M | Reduce -14.3% |
| PANW Palo Alto Networks Inc. | 0.28% | 68,380 | $12.4M | Reduce -3.7% |
| GAM General American Investors | 0.28% | 239,050 | $12.2M | Add +35.9% |
| XGLQX Clough Global Equity Fund | 0.28% | 1,828,749 | $12.2M | Add +9.8% |
| AMP Ameriprise Financial Inc. | 0.28% | 22,766 | $12.1M | Reduce -2.3% |
| EMR Emerson Electric Co. | 0.27% | 97,299 | $12.1M | Reduce -9.9% |
| FTHY First Trust Hi YLD Opp 2027 | 0.27% | 817,958 | $11.8M | Add +976.9% |
| PPL PPL Corp. | 0.27% | 362,450 | $11.8M | Add +1.2% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $455K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| NATIONAL RURAL UTIL COOP (NRUC 5.5 05/15/64 US) | PFD | 20,000 | $455K | No change |
Total filed on the 13F, all lines: $4.4B.
Portfolio Sells Q3 2024 → Q4 2024
| XHIEX Miller/Howard High Income Eq | Sold out | 0.00% | −0.73 |
| VPV Invesco Pa Val Muni Inc. | Reduce -82.0% | 0.11% | −0.54 |
| MMD Nylim Mackay Definedterm Mun | Sold out | 0.00% | −0.43 |
| VTN Invesco TR for Invest GRD NY | Reduce -78.8% | 0.10% | −0.40 |
| PDX PIMCO Dynamic Income Strat | Reduce -52.8% | 0.45% | −0.39 |
| XNEAX Nuveen Amt-FR QLTY Muni Inc. | Reduce -35.1% | 0.64% | −0.39 |
| GDO Western Ast GLB Corp. Opprnty | Sold out | 0.00% | −0.36 |
| XDCFX BNYM Alcentra GLBL CRDT 2024 | Sold out | 0.00% | −0.34 |
| IGI Western Asst Inv GR Oppor TR | Reduce -81.4% | 0.06% | −0.30 |
| UNP Union Pacific Corp. | Reduce -53.7% | 0.23% | −0.29 |
| AMAT Applied Materials Inc. | Reduce -21.1% | 0.50% | −0.27 |
| KSM DWS Strategic Municipal Inc. | Sold out | 0.00% | −0.26 |
| NVG Nuveen Amt-FR Muni CRDT | Reduce -46.5% | 0.24% | −0.25 |
| GD General Dynamics Corp. | Reduce -61.3% | 0.12% | −0.22 |
| MSFT Microsoft Corp. | Reduce -6.5% | 2.90% | −0.22 |
| UNH Unitedhealth Group Inc. | Reduce -10.7% | 0.72% | −0.20 |
| XNXJX Nuveen NJ QLTY Muni Inc. | Reduce -26.1% | 0.41% | −0.18 |
| AZN Astrazeneca PLC-Spons ADR | Reduce -30.4% | 0.25% | −0.17 |
| O Realty Income Corp. | Reduce -59.5% | 0.09% | −0.16 |
| NAD Nuveen Quality Municipal Inc. | Reduce -14.4% | 0.70% | −0.15 |
| NEE Nextera Energy Inc. | Reduce -34.2% | 0.16% | −0.13 |
| NVO Novo-Nordisk A/S-Spons ADR | Reduce -29.8% | 0.13% | −0.13 |
| NXG NXG Nextgen Infrastr Inc. | Reduce -60.6% | 0.09% | −0.11 |
| ADBE Adobe Inc. | Reduce -9.9% | 0.42% | −0.11 |
| XTTPX Tortoise Pipeline & Energy | Sold out | 0.00% | −0.11 |
| BNY Bank of New York Mellon Corp. | Reduce -56.2% | 0.10% | −0.11 |
| PCF High Income Securities Fund | Sold out | 0.00% | −0.11 |
| PPG PPG Industries Inc. | Reduce -99.0% | 0.00% | −0.10 |
| XNQPX Nuveen Pa QLTY Muni Inc. | Reduce -7.5% | 0.49% | −0.10 |
| HON Honeywell International Inc. | Reduce -32.2% | 0.30% | −0.10 |
| XBFZX BlackRock Ca Muni Inc. TR | Reduce -90.4% | 0.01% | −0.10 |
| BKT BlackRock Income Trust | Reduce -10.8% | 0.51% | −0.10 |
| JPC Nuveen Prefered & Income Opp | Reduce -9.2% | 0.85% | −0.10 |
| NPCT Nuveen Core Plus Impact | Reduce -26.7% | 0.19% | −0.10 |
| QCOM Qualcomm Inc. | Reduce -57.0% | 0.06% | −0.09 |
| NZF Nuveen Municipal Credit Inc. | Reduce -36.4% | 0.14% | −0.09 |
| MDLZ Mondelez International Inc. Class A | Reduce -32.2% | 0.11% | −0.09 |
| ZBH Zimmer Biomet Holdings Inc. | Reduce -42.4% | 0.11% | −0.08 |
| EBAY eBay Inc. | Reduce -50.2% | 0.08% | −0.08 |
| XTPZX Tortoise Power & Enrgy Infra | Sold out | 0.00% | −0.08 |
| TMO Thermo Fisher Scientific Inc. | Reduce -7.3% | 0.29% | −0.08 |
| FMN Federated Herm Prem Muni Inc. | Reduce -98.1% | 0.00% | −0.07 |
| FTF Franklin Ltd. Dur Inc. TR | Reduce -61.8% | 0.04% | −0.07 |
| HD Home Depot Inc. | Reduce -9.9% | 0.51% | −0.07 |
| NMAI Nuveen Multi-Asset Income | Reduce -33.2% | 0.11% | −0.07 |
| BAH Booz Allen Hamilton Holdings | Reduce -5.0% | 0.22% | −0.07 |
| NKE Nike Inc. Class B | Reduce -58.8% | 0.04% | −0.07 |
| BGH Barings GLBL SHRT Dur Hi YLD | Reduce -33.5% | 0.14% | −0.06 |
| VGM Invesco Trust for Investmen | Reduce -8.2% | 0.52% | −0.06 |
| MUC BlackRock Munihold Ca QLTY | Reduce -5.7% | 0.46% | −0.06 |
Portfolio Buys Q3 2024 → Q4 2024
| AVK Advent Convert & Income | Add +3605.3% | 1.16% | +1.13 |
| EHI Western Asset Global High Inc. | Add +3634.2% | 0.74% | +0.72 |
| FINS Angel Oak Financ Strat Inc. | Add +57.2% | 1.49% | +0.52 |
| BBN BlackRock Taxable Muni BND | Add +34.1% | 1.60% | +0.30 |
| SRV NXG Cushing Midstream Energy | Add +3678.4% | 0.30% | +0.29 |
| FTHY First Trust Hi YLD Opp 2027 | Add +976.9% | 0.27% | +0.24 |
| CSX CSX Corp. | New | 0.23% | +0.23 |
| XGDVX Gabelli Dividend & Income TR | Add +91.5% | 0.46% | +0.22 |
| RTX RTX Corp. | Add +14330.4% | 0.22% | +0.22 |
| NPFD Nuveen Var RT Pref & Inc. | Add +36.9% | 0.80% | +0.20 |
| CRM Salesforce Inc. | Add +21.8% | 0.57% | +0.19 |
| GUT Gabelli Utility Trust | New | 0.17% | +0.17 |
| DTF DTF Tax-Free Income 2028 Ter | New | 0.16% | +0.16 |
| USB US Bancorp | Add +1031.6% | 0.17% | +0.15 |
| XYL Xylem Inc. | Add +695.0% | 0.17% | +0.15 |
| ERC Allspring Multi-Sector Inc. | Add +142.3% | 0.25% | +0.15 |
| ACP Abrdn Income Credit Strat | Add +149.1% | 0.25% | +0.14 |
| JNJ Johnson & Johnson | Add +166.7% | 0.22% | +0.13 |
| MUJ BlackRock Munihold NJ QLTY | Add +1325.1% | 0.13% | +0.12 |
| CAH Cardinal Health Inc. | Add +81.2% | 0.25% | +0.12 |
| TEAM Atlassian Corp. Class A | Add +4.5% | 0.31% | +0.12 |
| EIM Eaton Vance Municipal Bond | Add +57.5% | 0.34% | +0.12 |
| MET Metlife Inc. | New | 0.12% | +0.12 |
| SPOT Spotify Technology SA | Add +74.9% | 0.22% | +0.12 |
| XMVFX BlackRock Munivest Fund | Add +318.5% | 0.16% | +0.12 |
| FLC Flaherty & Crumrine TTL RTRN | Add +123.8% | 0.21% | +0.12 |
| DMF BNYM Municipal Income | Add +33.0% | 0.48% | +0.12 |
| BAC Bank of America Corp. | Add +75.6% | 0.23% | +0.11 |
| ZTR Virtus Total Return Fund Inc. | New | 0.11% | +0.11 |
| CII BlackRock Enhan LRG Cap Core | Add +833.3% | 0.13% | +0.11 |
| META Meta Platforms Inc. Class A | Add +9.5% | 0.86% | +0.11 |
| XFFCX Flaherty & Crumrine Pref Inc. | New | 0.10% | +0.10 |
| SDHY Pgim SHRT Durat Hi YLD | Add +70.7% | 0.24% | +0.10 |
| XBOEX BlackRock Enh GLBL DVD TR | Add +44.0% | 0.32% | +0.09 |
| NBXG Neuberger Next Generation Co. | Add +29.5% | 0.39% | +0.09 |
| FITB Fifth Third Bancorp | Add +65.0% | 0.23% | +0.09 |
| DCI Donaldson Co. Inc. | Add +68.5% | 0.24% | +0.09 |
| PPT Franklin Premir Inc. Trust-Ui | Add +8.4% | 1.77% | +0.09 |
| MIN Aberdeen Intermediate Inc. FD | Add +6.7% | 1.46% | +0.08 |
| XCMUX MFS High Yield Municipal TR | Add +106.8% | 0.16% | +0.08 |
| DELL Dell Technologies -C | Add +106.5% | 0.15% | +0.08 |
| IOT Samsara Inc. Class A | New | 0.08% | +0.08 |
| C Citigroup Inc. | Add +53.5% | 0.18% | +0.08 |
| XBGYX BlackRock Enh Intl DVD TR | Add +63.8% | 0.22% | +0.07 |
| XEADX Allspring Income Opport | Add +62.5% | 0.20% | +0.07 |
| CTRE Caretrust REIT Inc. | Add +77.0% | 0.19% | +0.07 |
| FGB First Trust Special Financ | Add +255.1% | 0.10% | +0.07 |
| XMCRX MFS Charter Income Trust | Add +30.8% | 0.30% | +0.07 |
| GAM General American Investors | Add +35.9% | 0.28% | +0.07 |
| WMB Williams Cos Inc. | Add +2.9% | 0.34% | +0.07 |
Notes & Other Activity Q3 2024 → Q4 2024
| ADVENT CONVERTIBLE AND INCOM | RIGHT 10/17/2024 | Sold out | 2,263,623 | $45Kbefore exit |
| WESTERN ASSET GLOBAL HIGH-RT | RIGHT 10/08/2024 | Sold out | 2,930,620 | $32Kbefore exit |
| GABELLI UTILITY TRUST/THE | RIGHT 10/21/2024 | Sold out | 10,000 | $0before exit |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 521 | $5.3B | NVDA, AVGO, FINS, AAPL, BBN |
| Q1 2026 | 498 | $4.9B | NVDA, FINS, AVGO, BBN, AAPL |
| Q4 2025Amended | 512 | $5.1B | NVDA, AVGO, FINS, MSFT, AAPL |
| Q3 2025 | 512 | $4.9B | NVDA, AVGO, MSFT, FINS, AAPL |
| Q2 2025 | 520 | $4.7B | MSFT, NVDA, AVGO, FINS, AAPL |
| Q1 2025 | 521 | $4.3B | MSFT, AAPL, NVDA, AVGO, KTF |
| Q4 2024 | 529 | $4.4B | MSFT, AAPL, NVDA, AVGO, KTF |
| Q3 2024 | 536 | $4.5B | MSFT, AAPL, NVDA, AVGO, KTF |
| Q2 2024 | 529 | $4.3B | MSFT, AAPL, NVDA, AVGO, PIM |
| Q1 2024 | 520 | $4.3B | MSFT, AAPL, AVGO, NVDA, PPT |