Sit Investment Associates Inc.
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Sit Investment Associates Inc. reported 520 stock positions worth $4.7 billion. Its top holding was Microsoft (MSFT) at 3.1% of the portfolio, followed by Nvidia (NVDA, 2.9%) and Broadcom (AVGO, 2.9%). Compared with Q1 2025, it opened 20 new positions, sold out of 21, added to 132 and reduced 177. The biggest buy was a new position in BlackRock Core Bond Trust (BHK) and the biggest sale Nuveen Prefered & Income Opp (JPC, shares −71%).
- Most Recent 13F
- Q2 2026
- Location
- Minneapolis, MN
- CIK
- 0000769317
- Portfolio Value
- $4.7B (Q2 2025)
- SEC Filing
- 0000897101-25-000467 ↗ filed Aug 14, 2025
Holdings Value
Holdings 520 stocks · $4.7B
| MSFT Microsoft Corp. | 3.07% | 289,342 | $143.9M | Reduce -2.5% |
| NVDA Nvidia Corp. | 2.91% | 862,208 | $136.2M | Reduce -1.9% |
| AVGO Broadcom Inc. | 2.88% | 489,333 | $134.9M | Reduce -8.0% |
| FINS Angel Oak Financ Strat Inc. | 2.67% | 9,628,897 | $125.0M | Add +81.6% |
| AAPL Apple Inc. | 2.14% | 488,540 | $100.2M | Reduce -0.9% |
| BHK BlackRock Core Bond Trust | 2.09% | 10,052,357 | $97.7M | New |
| BBN BlackRock Taxable Muni BND | 2.06% | 5,977,374 | $96.3M | Add +15.8% |
| PPT Franklin Premir Inc. Trust-Ui | 2.02% | 25,719,698 | $94.4M | Add +11.9% |
| CRF Cornerstone Total Return | 1.83% | 11,075,628 | $85.8M | Add +31544.7% |
| KTF DWS Municipal Income Trust | 1.78% | 9,446,885 | $83.5M | Add +1.8% |
| PIM Franklin Master Interm IT-Ui filed as PUTNAM MASTER INTER INCOME T | 1.69% | 23,638,204 | $79.2M | Add +2.4% |
| MIN Aberdeen Intermediate Inc. FD | 1.52% | 26,308,365 | $71.3M | Add +7.7% |
| BTZ BlackRock Credit Allocation | 1.35% | 5,770,839 | $63.0M | Add +3.4% |
| XEVVX Eaton Vance Ltd. Durat Inc. | 1.31% | 5,962,489 | $61.2M | Add +15.4% |
| NBB Nuveen Taxable Municipal Inc. | 1.27% | 3,747,413 | $59.3M | Reduce -2.9% |
| NPFD Nuveen Var RT Pref & Inc. | 1.16% | 2,812,910 | $54.2M | Add +6.4% |
| AMZN Amazon.com Inc. | 1.15% | 245,820 | $53.9M | Reduce -1.2% |
| GOOGL Alphabet Inc. Class A | 1.13% | 299,723 | $52.8M | Add +4.7% |
| META Meta Platforms Inc. Class A | 1.09% | 69,115 | $51.0M | Add +3.0% |
| JFR Nuveen Floating Rate Income | 1.08% | 5,988,753 | $50.7M | Reduce -8.6% |
| DBL Doubleline Opport Credit | 1.07% | 3,270,893 | $50.3M | Add +3.2% |
| CLM Cornerstone Strategic Invest | 0.99% | 5,730,776 | $46.5M | Add +16273.6% |
| AVK Advent Convert & Income | 0.95% | 3,678,591 | $44.5M | Reduce -9.6% |
| BTX BlackRock Tech & Priv Eqty | 0.86% | 5,515,699 | $40.5M | Add +9.8% |
| TSI TCW Strategic Income Fund | 0.84% | 8,096,676 | $39.5M | Add +8.2% |
| JMM Nuveen Multi-Market Income | 0.76% | 5,640,636 | $35.4M | Add +0.8% |
| BKT BlackRock Income Trust | 0.76% | 3,011,113 | $35.4M | Reduce -12.4% |
| JHS John Hancock Income Sec TR | 0.75% | 3,126,507 | $35.3M | Add +5.7% |
| JPM JPMorgan Chase & Co. | 0.74% | 119,731 | $34.7M | Add +3.2% |
| XEVMX Eaton Vance Cal Muni Bond | 0.74% | 3,880,632 | $34.6M | Add +9.8% |
| CB Chubb Ltd. | 0.70% | 112,434 | $32.6M | Reduce -0.6% |
| XNROX Neu Re Est Sec Inc. FD Inc.-US filed as NEUBERGER BERMAN REAL ESTATE | 0.65% | 9,432,852 | $30.4M | Reduce -0.3% |
| XMIOX Pioneer Muni High Inc. Opp | 0.65% | 2,563,916 | $30.3M | Add +0.7% |
| UNH Unitedhealth Group Inc. | 0.62% | 93,059 | $29.0M | Add +47.0% |
| LLY Eli Lilly & Co. | 0.60% | 36,218 | $28.2M | Add +19.3% |
| ANET Arista Networks Inc. | 0.60% | 272,954 | $27.9M | Add +0.6% |
| FMY First Trust Mortgage Income | 0.59% | 2,268,865 | $27.7M | Add +0.7% |
| FSCO FS Credit Opportunities Corp. | 0.59% | 3,796,440 | $27.6M | Reduce -0.0% |
| GS Goldman Sachs Group Inc. | 0.58% | 38,645 | $27.4M | Reduce -2.9% |
| EHI Western Asset Global High Inc. | 0.58% | 4,134,952 | $27.0M | Reduce -7.0% |
| V Visa Inc. Class A | 0.57% | 75,401 | $26.8M | Reduce -0.5% |
| MGF Aberdeen Govrn MKTS Inc. Fund | 0.56% | 8,402,516 | $26.2M | Add +0.0% |
| JLS Nuveen Mortgage & Income | 0.54% | 1,361,500 | $25.5M | Reduce -3.9% |
| XENWX Eaton Vance New York Municip | 0.53% | 2,669,936 | $24.8M | Add +2.1% |
| INTU Intuit Inc. | 0.52% | 31,200 | $24.6M | Reduce -6.4% |
| HD Home Depot Inc. | 0.51% | 65,736 | $24.1M | Add +4.1% |
| ERC Allspring Multi-Sector Inc. | 0.50% | 2,455,899 | $23.2M | Add +10.0% |
| ACN Accenture PLC Class A | 0.50% | 77,600 | $23.2M | Reduce -4.5% |
| CRM Salesforce Inc. | 0.48% | 82,517 | $22.5M | Reduce -4.4% |
| ORCL Oracle Corp. | 0.48% | 102,201 | $22.3M | Reduce -6.4% |
| KIO KKR Income Opportunities | 0.47% | 1,763,303 | $22.1M | Reduce -22.0% |
| AMAT Applied Materials Inc. | 0.46% | 118,786 | $21.7M | Reduce -1.2% |
| XMHIX Pioneer Muni High Inc. TR | 0.46% | 2,363,095 | $21.6M | Add +1.7% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.44% | 168,685 | $20.8M | Add +0.7% |
| FTHY First Trust Hi YLD Opp 2027 | 0.44% | 1,401,635 | $20.8M | Add +7.2% |
| ABT Abbott Laboratories | 0.44% | 152,871 | $20.8M | Add +0.8% |
| NBXG Neuberger Next Generation Co. | 0.44% | 1,423,981 | $20.8M | Reduce -3.3% |
| WMB Williams Cos Inc. | 0.40% | 300,446 | $18.9M | Reduce -0.3% |
| XPMAX Pioneer Municipal High Inc. | 0.40% | 2,254,847 | $18.7M | Add +5.9% |
| HON Honeywell International Inc. | 0.39% | 78,459 | $18.3M | Reduce -10.5% |
| HYI Western Asset High Yield Opp | 0.38% | 1,502,176 | $18.0M | Add +2.2% |
| XMCRX MFS Charter Income Trust | 0.38% | 2,816,381 | $17.9M | Add +14.9% |
| AZN Astrazeneca PLC-Spons ADR | 0.38% | 255,944 | $17.9M | Add +7.3% |
| LIN Linde PLC | 0.38% | 38,092 | $17.9M | Add +11.2% |
| CPZ Calamos LNG/SHRT Eqty & DYN | 0.37% | 1,080,868 | $17.5M | No change |
| NFLX Netflix Inc. | 0.37% | 12,780 | $17.1M | Reduce -2.2% |
| GOOG Alphabet Inc. Class C | 0.36% | 94,725 | $16.8M | No change |
| XGDVX Gabelli Dividend & Income TR | 0.35% | 622,556 | $16.2M | Reduce -30.9% |
| COP Conocophillips | 0.34% | 177,474 | $15.9M | Reduce -22.6% |
| ACP Abrdn Income Credit Strat | 0.34% | 2,668,158 | $15.7M | Add +7.3% |
| PANW Palo Alto Networks Inc. | 0.33% | 76,280 | $15.6M | Reduce -0.2% |
| ECAT BlackRock ESG Cap All TRM TR | 0.33% | 970,728 | $15.6M | Reduce -23.5% |
| TEL Te Connectivity PLC | 0.33% | 91,574 | $15.4M | Reduce -6.7% |
| NOW ServiceNow Inc. | 0.33% | 15,002 | $15.4M | Reduce -2.4% |
| MUC BlackRock Munihold Ca QLTY | 0.33% | 1,481,893 | $15.3M | Reduce -21.8% |
| VGI Virtus Global Multi-Sector | 0.33% | 1,947,946 | $15.3M | Add +3.2% |
| MCD McDonald's Corp. | 0.33% | 52,267 | $15.3M | Reduce -2.5% |
| ADBE Adobe Inc. | 0.32% | 38,476 | $14.9M | Add +7.9% |
| ABBV Abbvie Inc. | 0.32% | 79,768 | $14.8M | Add +1.0% |
| LNG Cheniere Energy Inc. | 0.31% | 60,347 | $14.7M | Reduce -3.3% |
| SIEGY Siemens AG-Spons ADR | 0.31% | 112,561 | $14.5M | Add +18.1% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.30% | 300,428 | $14.2M | Add +7.0% |
| GLO Clough Global Opportunities | 0.30% | 2,575,503 | $14.0M | No change |
| GAM General American Investors | 0.30% | 248,197 | $13.9M | No change |
| XBOEX BlackRock Enh GLBL DVD TR | 0.30% | 1,220,842 | $13.9M | Reduce -28.6% |
| ISRG Intuitive Surgical Inc. | 0.29% | 25,241 | $13.7M | Add +25.6% |
| ETN Eaton Corp. PLC | 0.29% | 38,051 | $13.6M | Reduce -12.2% |
| XGLQX Clough Global Equity Fund | 0.28% | 1,853,749 | $13.2M | No change |
| FLS Flowserve Corp. | 0.28% | 252,130 | $13.2M | Add +94.0% |
| PG The Procter & Gamble Co. | 0.28% | 81,390 | $13.0M | Add +7.2% |
| TEAM Atlassian Corp. Class A | 0.27% | 62,600 | $12.7M | Add +6.9% |
| SPOT Spotify Technology SA | 0.27% | 16,288 | $12.5M | Reduce -0.9% |
| MPWR Monolithic Power Systems Inc. | 0.26% | 16,591 | $12.1M | No change |
| CAH Cardinal Health Inc. | 0.26% | 71,715 | $12.0M | Reduce -17.4% |
| XJQCX Nuveen Credit Strategies Inc. | 0.26% | 2,225,536 | $12.0M | Add +487.6% |
| SPGI S&P Global Inc. | 0.26% | 22,724 | $12.0M | Add +19.9% |
| PPL PPL Corp. | 0.25% | 352,386 | $11.9M | Add +5.9% |
| SDHY Pgim SHRT Durat Hi YLD | 0.25% | 706,787 | $11.9M | Add +1.1% |
| TMO Thermo Fisher Scientific Inc. | 0.25% | 28,961 | $11.7M | Add +16.7% |
| WCN Waste Connections Inc. | 0.25% | 62,488 | $11.7M | Reduce -0.4% |
Other holdings (3): bonds, preferreds, convertibles and warrants · $73K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| LMP CAPITAL AND INCOME FUND | RIGHT 07/11/2025 | 837,738 | $60K | New |
| RIVERNORTH CAPITAL AND INCOM | RIGHT 07/07/2025 | 203,427 | $11K | New |
| BLACKROCK CORE BOND TRUST | COM | 18,245 | $2K | New |
Total filed on the 13F, all lines: $4.7B.
Portfolio Sells Q1 2025 → Q2 2025
| JPC Nuveen Prefered & Income Opp | Reduce -70.9% | 0.20% | −0.56 |
| BMEZ BlackRock HLTH Sci TRM TR II | Sold out | 0.00% | −0.52 |
| DMF BNYM Municipal Income | Sold out | 0.00% | −0.51 |
| AAPL Apple Inc. | Reduce -0.9% | 2.14% | −0.43 |
| VGM Invesco Trust for Investmen | Reduce -63.6% | 0.15% | −0.32 |
| NAD Nuveen Quality Municipal Inc. | Reduce -47.1% | 0.24% | −0.27 |
| XNEAX Nuveen Amt-FR QLTY Muni Inc. | Reduce -51.4% | 0.20% | −0.27 |
| COP Conocophillips | Reduce -22.6% | 0.34% | −0.23 |
| SRV NXG Cushing Midstream Energy | Sold out | 0.00% | −0.22 |
| JFR Nuveen Floating Rate Income | Reduce -8.6% | 1.08% | −0.22 |
| XNXJX Nuveen NJ QLTY Muni Inc. | Reduce -57.0% | 0.13% | −0.21 |
| BKT BlackRock Income Trust | Reduce -12.4% | 0.76% | −0.20 |
| XNQPX Nuveen Pa QLTY Muni Inc. | Reduce -72.8% | 0.07% | −0.20 |
| VKQ Invesco Municipal Trust | Reduce -46.6% | 0.17% | −0.20 |
| NBB Nuveen Taxable Municipal Inc. | Reduce -2.9% | 1.27% | −0.18 |
| MRK Merck & Co. Inc. | Reduce -82.7% | 0.03% | −0.18 |
| KIO KKR Income Opportunities | Reduce -22.0% | 0.47% | −0.18 |
| PEP Pepsico Inc. | Reduce -32.6% | 0.20% | −0.17 |
| XGDVX Gabelli Dividend & Income TR | Reduce -30.9% | 0.35% | −0.16 |
| VMO Invesco Municipal Opport | Reduce -49.8% | 0.12% | −0.15 |
| AVK Advent Convert & Income | Reduce -9.6% | 0.95% | −0.15 |
| MUC BlackRock Munihold Ca QLTY | Reduce -21.8% | 0.33% | −0.15 |
| XBOEX BlackRock Enh GLBL DVD TR | Reduce -28.6% | 0.30% | −0.14 |
| ECAT BlackRock ESG Cap All TRM TR | Reduce -23.5% | 0.33% | −0.14 |
| NBH Neuberger Municipal Fund Inc. | Reduce -62.9% | 0.06% | −0.13 |
| A Agilent Technologies Inc. | Reduce -67.2% | 0.05% | −0.12 |
| EHI Western Asset Global High Inc. | Reduce -7.0% | 0.58% | −0.11 |
| SBI Western Asset Intermediate | Reduce -96.6% | 0.00% | −0.11 |
| XBGYX BlackRock Enh Intl DVD TR | Reduce -31.3% | 0.19% | −0.11 |
| CB Chubb Ltd. | Reduce -0.6% | 0.70% | −0.11 |
| FDX FedEx Corp. | Reduce -23.3% | 0.19% | −0.10 |
| ACN Accenture PLC Class A | Reduce -4.5% | 0.50% | −0.10 |
| BSTZ BlackRock Sci & Tech TRM TR | Sold out | 0.00% | −0.10 |
| EIM Eaton Vance Municipal Bond | Reduce -66.3% | 0.04% | −0.10 |
| CHRD Chord Energy Corp. | Reduce -71.4% | 0.03% | −0.10 |
| BCX BlackRock Resources & Commod | Reduce -26.7% | 0.19% | −0.09 |
| C Citigroup Inc. | Reduce -53.4% | 0.10% | −0.09 |
| LULU Lululemon Athletica Inc. | Sold out | 0.00% | −0.09 |
| AXS Axis Capital Holdings Ltd. | Reduce -31.3% | 0.16% | −0.09 |
| DCI Donaldson Co. Inc. | Reduce -47.5% | 0.09% | −0.09 |
| NVO Novo-Nordisk A/S-Spons ADR | Reduce -66.6% | 0.04% | −0.08 |
| XNROX Neu Re Est Sec Inc. FD Inc.-US | Reduce -0.3% | 0.65% | −0.08 |
| MUJ BlackRock Munihold NJ QLTY | Reduce -44.1% | 0.08% | −0.08 |
| JLS Nuveen Mortgage & Income | Reduce -3.9% | 0.54% | −0.08 |
| XRSFX Rivernorth Capital & Income | Reduce -48.6% | 0.06% | −0.08 |
| GGT Gabelli Multimedia Trust Inc. | Reduce -27.7% | 0.11% | −0.07 |
| MCD McDonald's Corp. | Reduce -2.5% | 0.33% | −0.07 |
| SRPT Sarepta Therapeutics Inc. | Reduce -61.4% | 0.01% | −0.07 |
| FITB Fifth Third Bancorp | Reduce -32.5% | 0.12% | −0.06 |
| GUT Gabelli Utility Trust | Sold out | 0.00% | −0.06 |
Portfolio Buys Q1 2025 → Q2 2025
| BHK BlackRock Core Bond Trust | New | 2.09% | +2.09 |
| CRF Cornerstone Total Return | Add +31544.7% | 1.83% | +1.83 |
| FINS Angel Oak Financ Strat Inc. | Add +81.6% | 2.67% | +0.99 |
| CLM Cornerstone Strategic Invest | Add +16273.6% | 0.99% | +0.99 |
| XJQCX Nuveen Credit Strategies Inc. | Add +487.6% | 0.26% | +0.21 |
| META Meta Platforms Inc. Class A | Add +3.0% | 1.09% | +0.18 |
| PSA Public Storage | Add +9158.8% | 0.15% | +0.15 |
| FLS Flowserve Corp. | Add +94.0% | 0.28% | +0.13 |
| BTX BlackRock Tech & Priv Eqty | Add +9.8% | 0.86% | +0.13 |
| LHX L3HARRIS Technologies Inc. | New | 0.12% | +0.12 |
| ANET Arista Networks Inc. | Add +0.6% | 0.60% | +0.10 |
| BGB Blackstone Strategic Credit | Add +125.9% | 0.19% | +0.10 |
| XEVVX Eaton Vance Ltd. Durat Inc. | Add +15.4% | 1.31% | +0.10 |
| FPF First TR Interm Dur & Inc. | Add +76.2% | 0.24% | +0.09 |
| GOOGL Alphabet Inc. Class A | Add +4.7% | 1.13% | +0.09 |
| JNJ Johnson & Johnson | Add +98.3% | 0.20% | +0.08 |
| JPM JPMorgan Chase & Co. | Add +3.2% | 0.74% | +0.07 |
| GBAB Guggenheim Taxable Municipal | Add +82.2% | 0.19% | +0.07 |
| PPT Franklin Premir Inc. Trust-Ui | Add +11.9% | 2.02% | +0.07 |
| ECF Ellsworth Growth and Income | Add +62.3% | 0.17% | +0.07 |
| XAI OCTAGN FLT RAT & ALT INM | New | 0.07% | +0.07 |
| MDT Medtronic PLC | Add +89.8% | 0.17% | +0.07 |
| ISRG Intuitive Surgical Inc. | Add +25.6% | 0.29% | +0.06 |
| GKOS Glaukos Corp. | Add +156.8% | 0.10% | +0.06 |
| VRT Vertiv Holdings Co. Class A | Add +2.0% | 0.15% | +0.06 |
| SIEGY Siemens AG-Spons ADR | Add +18.1% | 0.31% | +0.05 |
| WFC Wells Fargo & Co. | New | 0.05% | +0.05 |
| XPHTX Pioneer High Income Fund | Add +32.8% | 0.23% | +0.05 |
| TTWO Take-Two Interactive Softwre | Add +32.8% | 0.16% | +0.05 |
| KO The Coca-Cola Co. | Add +260.0% | 0.07% | +0.04 |
| XFFCX Flaherty & Crumrine Pref Inc. | Add +52.4% | 0.15% | +0.04 |
| XSCDX LMP Capital and Income Fund | New | 0.04% | +0.04 |
| SYK Stryker Corp. | Add +25.3% | 0.23% | +0.04 |
| ELV Elevance Health Inc. | New | 0.04% | +0.04 |
| BBN BlackRock Taxable Muni BND | Add +15.8% | 2.06% | +0.04 |
| BNY Bank of New York Mellon Corp. | Add +37.8% | 0.12% | +0.03 |
| FLC Flaherty & Crumrine TTL RTRN | Add +24.7% | 0.24% | +0.03 |
| GEV GE Vernova Inc. | Add +15.4% | 0.07% | +0.03 |
| SPGI S&P Global Inc. | Add +19.9% | 0.26% | +0.03 |
| SOCIETE GENERALE | New | 0.03% | +0.03 |
| DMUAX BNYM Amt-FR Muni BND-A | New | 0.03% | +0.03 |
| BAC Bank of America Corp. | Add +7.0% | 0.30% | +0.03 |
| COHR Coherent Corp. | Add +27.3% | 0.08% | +0.03 |
| XOM Exxon Mobil Corp. | Add +46.4% | 0.16% | +0.03 |
| GRX Gabelli Healthcare & Well | Add +49.0% | 0.13% | +0.03 |
| GF The New Germany Fund Inc. | New | 0.03% | +0.03 |
| PFD Flaherty & Crumrin Pre&inc F | Add +35.3% | 0.14% | +0.03 |
| CSX CSX Corp. | Add +14.8% | 0.19% | +0.03 |
| BMY Bristol-Myers Squibb Co. | New | 0.03% | +0.03 |
| CSCO Cisco Systems Inc. | Add +8.6% | 0.23% | +0.02 |
Notes & Other Activity Q1 2025 → Q2 2025
| NATIONAL RURAL UTIL COOP (NRUC 5.5 05/15/64 US) | PFD | Sold out | 20,000 | $476Kbefore exit |
| LMP CAPITAL AND INCOME FUND | RIGHT 07/11/2025 | New | 837,738 | $60K |
| RIVERNORTH CAPITAL AND INCOM | RIGHT 07/07/2025 | New | 203,427 | $11K |
| BLACKROCK CORE BOND TRUST | COM | New | 18,245 | $2K |
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 |