Sit Investment Associates Inc.
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 13, 2025), Sit Investment Associates Inc. reported 521 stock positions worth $4.3 billion. Its top holding was Microsoft (MSFT) at 2.6% of the portfolio, followed by Apple (AAPL, 2.6%) and Nvidia (NVDA, 2.2%). Compared with Q4 2024, it opened 20 new positions, sold out of 27, added to 182 and reduced 143. The biggest buy was a new position in Nuveen Floating Rate Income (JFR) and the biggest sale an exit from Insight Select Income Fund.
- Most Recent 13F
- Q2 2026
- Location
- Minneapolis, MN
- CIK
- 0000769317
- Portfolio Value
- $4.3B (Q1 2025)
- SEC Filing
- 0000897101-25-000246 ↗ filed May 13, 2025
Holdings Value
Holdings 521 stocks · $4.3B
| MSFT Microsoft Corp. | 2.61% | 296,785 | $111.4M | Reduce -2.2% |
| AAPL Apple Inc. | 2.57% | 493,010 | $109.5M | Reduce -2.1% |
| NVDA Nvidia Corp. | 2.24% | 879,358 | $95.3M | Reduce -1.7% |
| AVGO Broadcom Inc. | 2.09% | 531,988 | $89.1M | Add +4.3% |
| KTF DWS Municipal Income Trust | 2.04% | 9,279,098 | $87.0M | Add +3.4% |
| BBN BlackRock Taxable Muni BND | 2.02% | 5,161,588 | $86.1M | Add +18.0% |
| PPT Franklin Premir Inc. Trust-Ui | 1.95% | 22,981,484 | $83.0M | Add +5.0% |
| PIM Franklin Master Interm IT-Ui filed as PUTNAM MASTER INTER INCOME T | 1.80% | 23,075,285 | $76.6M | Add +0.4% |
| FINS Angel Oak Financ Strat Inc. | 1.68% | 5,301,917 | $71.5M | Add +2.8% |
| MIN Aberdeen Intermediate Inc. FD | 1.54% | 24,419,462 | $65.7M | Add +0.8% |
| NBB Nuveen Taxable Municipal Inc. | 1.45% | 3,860,681 | $61.8M | Add +4.5% |
| BTZ BlackRock Credit Allocation | 1.40% | 5,581,167 | $59.8M | Add +8.1% |
| JFR Nuveen Floating Rate Income | 1.30% | 6,549,321 | $55.5M | New |
| XEVVX Eaton Vance Ltd. Durat Inc. | 1.21% | 5,165,483 | $51.6M | Add +0.3% |
| NPFD Nuveen Var RT Pref & Inc. | 1.16% | 2,644,061 | $49.6M | Add +37.5% |
| DBL Doubleline Opport Credit | 1.16% | 3,168,782 | $49.5M | Add +7.7% |
| AMZN Amazon.com Inc. | 1.11% | 248,875 | $47.4M | Add +2.4% |
| AVK Advent Convert & Income | 1.10% | 4,069,977 | $46.9M | Reduce -6.5% |
| GOOGL Alphabet Inc. Class A | 1.04% | 286,181 | $44.3M | Add +3.7% |
| BKT BlackRock Income Trust | 0.96% | 3,438,065 | $40.7M | Reduce -1.6% |
| META Meta Platforms Inc. Class A | 0.91% | 67,134 | $38.7M | Add +3.4% |
| TSI TCW Strategic Income Fund | 0.85% | 7,486,736 | $36.4M | Add +8.2% |
| JMM Nuveen Multi-Market Income | 0.82% | 5,596,197 | $34.8M | Add +0.4% |
| CB Chubb Ltd. | 0.80% | 113,074 | $34.1M | Add +0.5% |
| JHS John Hancock Income Sec TR | 0.79% | 2,958,494 | $33.5M | Add +4.4% |
| UNH Unitedhealth Group Inc. | 0.78% | 63,307 | $33.2M | Add +0.7% |
| XEVMX Eaton Vance Cal Muni Bond | 0.77% | 3,535,801 | $32.8M | Add +7.4% |
| JPC Nuveen Prefered & Income Opp | 0.77% | 4,105,995 | $32.7M | Reduce -13.5% |
| BTX BlackRock Tech & Priv Eqty | 0.74% | 5,025,130 | $31.5M | Add +14.8% |
| XNROX Neu Re Est Sec Inc. FD Inc.-US filed as NEUBERGER BERMAN REAL ESTATE | 0.73% | 9,464,802 | $31.2M | New |
| XMIOX Pioneer Muni High Inc. Opp | 0.70% | 2,545,042 | $30.0M | Add +0.6% |
| EHI Western Asset Global High Inc. | 0.69% | 4,446,233 | $29.4M | Reduce -9.2% |
| JPM JPMorgan Chase & Co. | 0.67% | 116,016 | $28.5M | Add +9.7% |
| KIO KKR Income Opportunities | 0.65% | 2,260,825 | $27.8M | New |
| FMY First Trust Mortgage Income | 0.65% | 2,253,246 | $27.5M | Add +0.0% |
| FSCO FS Credit Opportunities Corp. | 0.63% | 3,797,537 | $26.8M | Reduce -24.6% |
| MGF Aberdeen Govrn MKTS Inc. Fund | 0.62% | 8,401,498 | $26.6M | Add +1.5% |
| JLS Nuveen Mortgage & Income | 0.62% | 1,416,022 | $26.6M | Reduce -8.6% |
| V Visa Inc. Class A | 0.62% | 75,761 | $26.6M | Reduce -0.6% |
| ACN Accenture PLC Class A | 0.59% | 81,261 | $25.4M | Add +3.0% |
| LLY Eli Lilly & Co. | 0.59% | 30,362 | $25.1M | Add +3.9% |
| XENWX Eaton Vance New York Municip | 0.58% | 2,615,205 | $24.8M | Add +6.6% |
| COP Conocophillips | 0.57% | 229,438 | $24.1M | Reduce -0.7% |
| CRM Salesforce Inc. | 0.54% | 86,316 | $23.2M | Add +15.8% |
| HD Home Depot Inc. | 0.54% | 63,148 | $23.1M | Add +9.8% |
| BMEZ BlackRock HLTH Sci TRM TR II | 0.52% | 1,496,158 | $22.3M | Reduce -13.3% |
| DMF BNYM Municipal Income filed as BNY MELLON MUN INCOME INC | 0.51% | 3,057,452 | $22.0M | Add +1.9% |
| GS Goldman Sachs Group Inc. | 0.51% | 39,795 | $21.7M | Add +0.1% |
| XGDVX Gabelli Dividend & Income TR | 0.51% | 900,838 | $21.7M | Add +6.3% |
| NAD Nuveen Quality Municipal Inc. | 0.51% | 1,877,551 | $21.6M | Reduce -29.4% |
| XMHIX Pioneer Muni High Inc. TR | 0.50% | 2,323,907 | $21.4M | Add +1.1% |
| ANET Arista Networks Inc. | 0.49% | 271,394 | $21.0M | Add +2.8% |
| ERC Allspring Multi-Sector Inc. | 0.48% | 2,232,680 | $20.6M | Add +84.2% |
| INTU Intuit Inc. | 0.48% | 33,341 | $20.5M | Add +36.1% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.48% | 167,485 | $20.4M | Reduce -0.8% |
| MUC BlackRock Munihold Ca QLTY | 0.48% | 1,894,225 | $20.3M | Reduce -1.0% |
| ABT Abbott Laboratories | 0.47% | 151,621 | $20.1M | Reduce -13.8% |
| XNEAX Nuveen Amt-FR QLTY Muni Inc. | 0.47% | 1,786,278 | $20.0M | Reduce -28.6% |
| ECAT BlackRock ESG Cap All TRM TR | 0.47% | 1,268,190 | $20.0M | Reduce -15.0% |
| VGM Invesco Trust for Investmen | 0.47% | 2,001,609 | $19.9M | Reduce -12.5% |
| FTHY First Trust Hi YLD Opp 2027 | 0.44% | 1,307,427 | $18.9M | Add +59.8% |
| HON Honeywell International Inc. | 0.44% | 87,681 | $18.6M | Add +48.7% |
| XBOEX BlackRock Enh GLBL DVD TR | 0.44% | 1,710,576 | $18.6M | Add +30.0% |
| NBXG Neuberger Next Generation Co. | 0.42% | 1,471,957 | $18.0M | Add +8.8% |
| WMB Williams Cos Inc. | 0.42% | 301,396 | $18.0M | Add +9.2% |
| XPMAX Pioneer Municipal High Inc. | 0.42% | 2,128,384 | $17.8M | Add +0.8% |
| AZN Astrazeneca PLC-Spons ADR | 0.41% | 238,413 | $17.5M | Add +42.9% |
| AMAT Applied Materials Inc. | 0.41% | 120,279 | $17.5M | Reduce -10.3% |
| HYI Western Asset High Yield Opp | 0.41% | 1,470,461 | $17.4M | Reduce -1.2% |
| CPZ Calamos LNG/SHRT Eqty & DYN | 0.39% | 1,080,868 | $16.8M | Add +7.3% |
| MCD McDonald's Corp. | 0.39% | 53,622 | $16.8M | Reduce -2.9% |
| ABBV Abbvie Inc. | 0.39% | 78,995 | $16.6M | Reduce -12.4% |
| PEP Pepsico Inc. | 0.38% | 107,313 | $16.1M | Reduce -9.3% |
| LIN Linde PLC | 0.37% | 34,252 | $15.9M | Add +6.0% |
| VKQ Invesco Municipal Trust | 0.36% | 1,604,818 | $15.5M | Reduce -8.5% |
| XMCRX MFS Charter Income Trust | 0.36% | 2,451,127 | $15.4M | Add +17.8% |
| ORCL Oracle Corp. | 0.36% | 109,191 | $15.3M | Reduce -5.1% |
| GOOG Alphabet Inc. Class C | 0.35% | 94,725 | $14.8M | No change |
| ACP Abrdn Income Credit Strat | 0.34% | 2,486,226 | $14.6M | Add +33.5% |
| VGI Virtus Global Multi-Sector | 0.34% | 1,887,054 | $14.6M | Add +11.4% |
| XNXJX Nuveen NJ QLTY Muni Inc. | 0.34% | 1,238,864 | $14.6M | Reduce -17.2% |
| LNG Cheniere Energy Inc. | 0.34% | 62,429 | $14.4M | Add +0.6% |
| TEL Te Connectivity PLC | 0.33% | 98,149 | $13.9M | Add +3.1% |
| ADBE Adobe Inc. | 0.32% | 35,647 | $13.7M | Reduce -14.4% |
| PANW Palo Alto Networks Inc. | 0.31% | 76,435 | $13.0M | Add +11.8% |
| PG The Procter & Gamble Co. | 0.30% | 75,920 | $12.9M | Reduce -5.4% |
| XBGYX BlackRock Enh Intl DVD TR | 0.30% | 2,271,475 | $12.7M | Add +26.3% |
| GLO Clough Global Opportunities | 0.30% | 2,575,503 | $12.6M | Add +1.3% |
| GAM General American Investors | 0.29% | 248,197 | $12.5M | Add +3.8% |
| TEAM Atlassian Corp. Class A | 0.29% | 58,550 | $12.4M | Add +3.3% |
| TMO Thermo Fisher Scientific Inc. | 0.29% | 24,823 | $12.4M | Add +1.1% |
| WCN Waste Connections Inc. | 0.29% | 62,736 | $12.2M | Add +0.3% |
| NOW ServiceNow Inc. | 0.29% | 15,370 | $12.2M | Add +14.0% |
| FDX FedEx Corp. | 0.29% | 50,036 | $12.2M | Add +12.2% |
| NFLX Netflix Inc. | 0.29% | 13,065 | $12.2M | Add +1.6% |
| BCX BlackRock Resources & Commod | 0.28% | 1,300,123 | $12.1M | Add +10.9% |
| PPL PPL Corp. | 0.28% | 332,615 | $12.0M | Reduce -8.2% |
| CAH Cardinal Health Inc. | 0.28% | 86,855 | $12.0M | Reduce -6.3% |
| VMO Invesco Municipal Opport | 0.28% | 1,241,991 | $11.8M | Reduce -9.6% |
| ETN Eaton Corp. PLC | 0.28% | 43,326 | $11.8M | Add +11.3% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $476K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| NATIONAL RURAL UTIL COOP (NRUC 5.5 05/15/64 US) | PFD | 20,000 | $476K | No change |
Total filed on the 13F, all lines: $4.3B.
Portfolio Sells Q4 2024 → Q1 2025
| INSIGHT SELECT INCOME FUND | Sold out | 0.00% | −0.98 |
| NEW AMERICA HIGH INCOME FUND | Sold out | 0.00% | −0.51 |
| NVDA Nvidia Corp. | Reduce -1.7% | 2.24% | −0.49 |
| PDX PIMCO Dynamic Income Strat | Sold out | 0.00% | −0.45 |
| AAPL Apple Inc. | Reduce -2.1% | 2.57% | −0.29 |
| MSFT Microsoft Corp. | Reduce -2.2% | 2.61% | −0.29 |
| XNQPX Nuveen Pa QLTY Muni Inc. | Reduce -48.6% | 0.26% | −0.23 |
| EIM Eaton Vance Municipal Bond | Reduce -58.4% | 0.14% | −0.20 |
| NAD Nuveen Quality Municipal Inc. | Reduce -29.4% | 0.51% | −0.20 |
| RGA Reinsurance Group of America | Reduce -77.6% | 0.05% | −0.19 |
| XNEAX Nuveen Amt-FR QLTY Muni Inc. | Reduce -28.6% | 0.47% | −0.17 |
| ALTR Altair Engineering Inc. Class A | Sold out | 0.00% | −0.16 |
| DELL Dell Technologies -C | Sold out | 0.00% | −0.15 |
| FSCO FS Credit Opportunities Corp. | Reduce -24.6% | 0.63% | −0.15 |
| GHY Pgim Global High Yield Fund | Sold out | 0.00% | −0.15 |
| NRK Nuveen NY Amt-FR Muni Inc. | Reduce -66.0% | 0.07% | −0.14 |
| CII BlackRock Enhan LRG Cap Core | Sold out | 0.00% | −0.13 |
| HQL Abrdn Life Sciences Investor | Sold out | 0.00% | −0.12 |
| NBH Neuberger Municipal Fund Inc. | Reduce -39.3% | 0.19% | −0.11 |
| NMAI Nuveen Multi-Asset Income | Sold out | 0.00% | −0.11 |
| NPCT Nuveen Core Plus Impact | Reduce -61.2% | 0.08% | −0.11 |
| NVG Nuveen Amt-FR Muni CRDT | Reduce -47.2% | 0.13% | −0.11 |
| GUT Gabelli Utility Trust | Reduce -65.7% | 0.06% | −0.11 |
| ADBE Adobe Inc. | Reduce -14.4% | 0.32% | −0.10 |
| VPV Invesco Pa Val Muni Inc. | Reduce -88.7% | 0.01% | −0.09 |
| JNJ Johnson & Johnson | Reduce -52.0% | 0.12% | −0.09 |
| SBI Western Asset Intermediate | Reduce -46.8% | 0.11% | −0.09 |
| VTN Invesco TR for Invest GRD NY | Reduce -95.1% | 0.00% | −0.09 |
| ZTR Virtus Total Return Fund Inc. | Reduce -82.6% | 0.02% | −0.09 |
| ECAT BlackRock ESG Cap All TRM TR | Reduce -15.0% | 0.47% | −0.09 |
| AMAT Applied Materials Inc. | Reduce -10.3% | 0.41% | −0.09 |
| AZPN Aspen Technology Inc. | Sold out | 0.00% | −0.08 |
| BAH Booz Allen Hamilton Holdings | Reduce -25.6% | 0.13% | −0.08 |
| JPC Nuveen Prefered & Income Opp | Reduce -13.5% | 0.77% | −0.08 |
| XRSFX Rivernorth Capital & Income | Reduce -37.0% | 0.14% | −0.08 |
| ORCL Oracle Corp. | Reduce -5.1% | 0.36% | −0.08 |
| SRV NXG Cushing Midstream Energy | Reduce -27.2% | 0.22% | −0.08 |
| NXG NXG Nextgen Infrastr Inc. | Reduce -83.2% | 0.02% | −0.07 |
| CHRW C.H. Robinson Worldwide Inc. | Reduce -37.5% | 0.13% | −0.07 |
| XNXJX Nuveen NJ QLTY Muni Inc. | Reduce -17.2% | 0.34% | −0.07 |
| DCI Donaldson Co. Inc. | Reduce -30.9% | 0.17% | −0.07 |
| EMR Emerson Electric Co. | Reduce -17.5% | 0.21% | −0.07 |
| CSX CSX Corp. | Reduce -24.6% | 0.16% | −0.07 |
| BGH Barings GLBL SHRT Dur Hi YLD | Reduce -47.6% | 0.07% | −0.07 |
| AVK Advent Convert & Income | Reduce -6.5% | 1.10% | −0.06 |
| ICE Intercontinental Exchange Inc. | Reduce -35.8% | 0.20% | −0.06 |
| VGM Invesco Trust for Investmen | Reduce -12.5% | 0.47% | −0.06 |
| HEES H&E Equipment Services Inc. | Sold out | 0.00% | −0.06 |
| QCOM Qualcomm Inc. | Reduce -92.4% | 0.00% | −0.06 |
| BGX Blackstone Long-Short Credit | Reduce -36.2% | 0.10% | −0.05 |
Portfolio Buys Q4 2024 → Q1 2025
| JFR Nuveen Floating Rate Income | New | 1.30% | +1.30 |
| XNROX Neu Re Est Sec Inc. FD Inc.-US | New | 0.73% | +0.73 |
| KIO KKR Income Opportunities | New | 0.65% | +0.65 |
| BBN BlackRock Taxable Muni BND | Add +18.0% | 2.02% | +0.42 |
| NPFD Nuveen Var RT Pref & Inc. | Add +37.5% | 1.16% | +0.37 |
| ERC Allspring Multi-Sector Inc. | Add +84.2% | 0.48% | +0.23 |
| NBB Nuveen Taxable Municipal Inc. | Add +4.5% | 1.45% | +0.19 |
| FINS Angel Oak Financ Strat Inc. | Add +2.8% | 1.68% | +0.19 |
| SYK Stryker Corp. | New | 0.19% | +0.19 |
| HIG Hartford Insurance Group Inc. | New | 0.18% | +0.18 |
| PPT Franklin Premir Inc. Trust-Ui | Add +5.0% | 1.95% | +0.18 |
| BTZ BlackRock Credit Allocation | Add +8.1% | 1.40% | +0.18 |
| FTHY First Trust Hi YLD Opp 2027 | Add +59.8% | 0.44% | +0.17 |
| AZN Astrazeneca PLC-Spons ADR | Add +42.9% | 0.41% | +0.16 |
| FLS Flowserve Corp. | New | 0.15% | +0.15 |
| HON Honeywell International Inc. | Add +48.7% | 0.44% | +0.13 |
| INTU Intuit Inc. | Add +36.1% | 0.48% | +0.13 |
| DBL Doubleline Opport Credit | Add +7.7% | 1.16% | +0.13 |
| KTF DWS Municipal Income Trust | Add +3.4% | 2.04% | +0.12 |
| XBOEX BlackRock Enh GLBL DVD TR | Add +30.0% | 0.44% | +0.11 |
| NKE Nike Inc. Class B | Add +360.6% | 0.14% | +0.11 |
| FPF First TR Interm Dur & Inc. | Add +276.4% | 0.14% | +0.11 |
| BSTZ BlackRock Sci & Tech TRM TR | New | 0.10% | +0.10 |
| TSI TCW Strategic Income Fund | Add +8.2% | 0.85% | +0.10 |
| PIM Franklin Master Interm IT-Ui | Add +0.4% | 1.80% | +0.10 |
| CB Chubb Ltd. | Add +0.5% | 0.80% | +0.10 |
| BGB Blackstone Strategic Credit | New | 0.09% | +0.09 |
| GBAB Guggenheim Taxable Municipal | Add +345.7% | 0.12% | +0.09 |
| WM Waste Management Inc. | Add +28.9% | 0.27% | +0.09 |
| JPM JPMorgan Chase & Co. | Add +9.7% | 0.67% | +0.09 |
| ACP Abrdn Income Credit Strat | Add +33.5% | 0.34% | +0.09 |
| XEVMX Eaton Vance Cal Muni Bond | Add +7.4% | 0.77% | +0.08 |
| WMB Williams Cos Inc. | Add +9.2% | 0.42% | +0.08 |
| XBGYX BlackRock Enh Intl DVD TR | Add +26.3% | 0.30% | +0.08 |
| DTF DTF Tax-Free Income 2028 Ter | Add +47.0% | 0.24% | +0.08 |
| MIN Aberdeen Intermediate Inc. FD | Add +0.8% | 1.54% | +0.08 |
| LLY Eli Lilly & Co. | Add +3.9% | 0.59% | +0.08 |
| TTWO Take-Two Interactive Softwre | Add +135.3% | 0.12% | +0.07 |
| BCV Bancroft Fund Ltd. | Add +166.9% | 0.12% | +0.07 |
| MET Metlife Inc. | Add +59.7% | 0.19% | +0.07 |
| BWXT BWX Technologies Inc. | New | 0.07% | +0.07 |
| XEVVX Eaton Vance Ltd. Durat Inc. | Add +0.3% | 1.21% | +0.07 |
| JHS John Hancock Income Sec TR | Add +4.4% | 0.79% | +0.07 |
| LIN Linde PLC | Add +6.0% | 0.37% | +0.07 |
| XMCRX MFS Charter Income Trust | Add +17.8% | 0.36% | +0.06 |
| BCX BlackRock Resources & Commod | Add +10.9% | 0.28% | +0.06 |
| XYL Xylem Inc. | Add +24.9% | 0.23% | +0.06 |
| UNH Unitedhealth Group Inc. | Add +0.7% | 0.78% | +0.06 |
| CPZ Calamos LNG/SHRT Eqty & DYN | Add +7.3% | 0.39% | +0.06 |
| IDXX Idexx Laboratories Inc. | New | 0.05% | +0.05 |
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 |