Top 5 1st Quarter Trades of SIT INVESTMENT ASSOCIATES INC

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May 12, 2022
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SIT INVESTMENT ASSOCIATES INC recently filed their 13F report for the first quarter of 2022, which ended on 2022-03-31.

The 13F report details which stocks were in a guru’s equity portfolio at the end of the quarter, though investors should note that these filings are limited in scope, containing only a snapshot of long positions in U.S.-listed stocks and American depository receipts as of the quarter’s end. They are not required to include international holdings, short positions or other types of investments. Still, even this limited filing can provide valuable information.

Sit Investment Associates is an investment management company based out of Minneapolis. The company was established in 1981 by Eugene C. Sit with $1 million in capital and 8 people. Sit Investment Associates would grow and establish Sit Investment Fixed Income Advisors in 1984 to manage its fixed income business and Sit International Investment Associates in 1989 to manage international and global portfolios. The company is largely owned by the Sit family, which, along with the Gail V. Sit Family Trust, make up over three quarters of the total ownership in the company with the remaining ownership split amongst key executives. The company has grown to 73 employees, of which 36 are investment professionals, headed by CEO and CIO Roger J. Sit. Sit Investment Associates utilizes quantitative and fundamental methodologies to make its investment decisions, allocating its assets in fixed income and public equity markets on a global scale. The company invests most heavily in the finance sector, which alone makes up approximately a quarter of its total asset allocations, and also invests in the health care, information technology, consumer discretionary, industrials, and consumer staples sectors, among others to a lesser degree, in order of decreasing allocation. Sit Investment Associates currently holds over $6.6 billion in total assets under management spread across 67 accounts, all of which are discretionary. Although its total number of accounts has somewhat decreased in recent years, its total assets under management has increased, growing significantly from $2.5 billion to well over twice that amount today. Sit Investment Associates caters to a diverse client base including high net worth individuals, pension and profit sharing plans, charities, investment companies, pooled investment vehicles, corporations, and state or municipal government entities, in order of decreasing clientele. The Sit family of mutual funds includes the Developing Markets Fund, Balanced Fund, Quality Income Fund, Dividend Growth Fund, and U.S. Government Securities Fund, among others.

As of the latest 13F report, the guru’s equity portfolio contained 513 stocks valued at a total of $3,671,000,000. The top holdings were AAPL(3.37%), MSFT(3.12%), and WIW(2.09%).

According to GuruFocus data, these were SIT INVESTMENT ASSOCIATES INC’s top five trades of the quarter.

RiverNorth/DoubleLine Strategic Opportunity Fund I


SIT INVESTMENT ASSOCIATES INC reduced their investment in NYSE:OPP by 155,047 shares. The trade had a 0.05% impact on the equity portfolio. During the quarter, the stock traded for an average price of $11.34.

On 05/12/2022, RiverNorth/DoubleLine Strategic Opportunity Fund I traded for a price of $10.67 per share and a market cap of $199,765,000. The stock has returned -15.97% over the past year.

GuruFocus gives the company a financial strength rating of 5 out of 10 and a profitability rating of 2 out of 10.

In terms of valuation, RiverNorth/DoubleLine Strategic Opportunity Fund I has a price-earnings ratio of 8.73, a price-book ratio of 0.77 and a price-sales ratio of 7.02.

Eaton Vance Ltd Duration Income Fund


SIT INVESTMENT ASSOCIATES INC reduced their investment in AMEX:EVV by 182,724 shares. The trade had a 0.06% impact on the equity portfolio. During the quarter, the stock traded for an average price of $11.33.

On 05/12/2022, Eaton Vance Ltd Duration Income Fund traded for a price of $10.215 per share and a market cap of $1,172,442,000. The stock has returned -10.26% over the past year.

GuruFocus gives the company a financial strength rating of 4 out of 10 and a profitability rating of 4 out of 10.

In terms of valuation, Eaton Vance Ltd Duration Income Fund has a price-earnings ratio of 6.97, a price-book ratio of 0.75 and a price-sales ratio of 6.84.

Franklin Limited Duration Income Trust


During the quarter, SIT INVESTMENT ASSOCIATES INC bought 4,791,424 shares of AMEX:FTF for a total holding of 4,983,489. The trade had a 0.99% impact on the equity portfolio. During the quarter, the stock traded for an average price of $7.94.

On 05/12/2022, Franklin Limited Duration Income Trust traded for a price of $6.79 per share and a market cap of $212,053,000. The stock has returned -13.58% over the past year.

GuruFocus gives the company a financial strength rating of 4 out of 10 and a profitability rating of 4 out of 10.

In terms of valuation, Franklin Limited Duration Income Trust has a price-earnings ratio of 0.20, a price-book ratio of 0.79 and a price-sales ratio of 14.10.

Western Asset Diversified Income Fund


The guru established a new position worth 1,582,412 shares in NYSE:WDI, giving the stock a 0.7% weight in the equity portfolio. Shares traded for an average price of $6.65 during the quarter.

On 05/12/2022, Western Asset Diversified Income Fund traded for a price of $14.74 per share and a market cap of $763,082,000. The stock has returned 0.00% over the past year.

GuruFocus gives the company a financial strength rating of 3 out of 10 and a profitability rating of 1 out of 10.

In terms of valuation, Western Asset Diversified Income Fund has a price-earnings ratio of 61.47 and a price-sales ratio of 57.84.

BlackRock Science and Technology Trust


SIT INVESTMENT ASSOCIATES INC reduced their investment in NYSE:BST by 559,532 shares. The trade had a 0.67% impact on the equity portfolio. During the quarter, the stock traded for an average price of $44.25.

On 05/12/2022, BlackRock Science and Technology Trust traded for a price of $35.13 per share and a market cap of $1,143,000,000. The stock has returned -26.76% over the past year.

GuruFocus gives the company a financial strength rating of 8 out of 10 and a profitability rating of 2 out of 10.

In terms of valuation, BlackRock Science and Technology Trust has a price-earnings ratio of 6.70, a price-book ratio of 0.68 and a price-sales ratio of 6.69.

The price-to-GF Value ratio is 1.46, earning the stock a GF Value rank of 1.


Please note, the numbers and facts quoted are as of the writing of this article and may not factor in the latest trading data or company announcements.

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