SIT INVESTMENT ASSOCIATES INC

Minneapolis, MN · CIK 769317 · 13F filing filed 2024-05-14

SEC-registered investment adviser since 1981 · corporation

Assets managed$3.5bn
Staff73 · 35 in investment roles
Main clients (by assets)Mutual funds and ETFs 54%, Charities 13%, Private funds 10%
Private funds7 · $234.6m gross assets
Websitesitinvest.com
Form ADV · 2026-06-22SEC adviser record

Legal entitySit Investment Associates, Inc. (US)

Other 13F filers in this group: SIT FIXED INCOME ADVISORS II LLC /ADV files a notice

Kindhedge funds, real estate, mutual funds, institutions, futures
Others nearbyMinneapolis, MN
FamilySIT INVESTMENT ASSOCIATES INC · 2 related pages

As an employer

Offices in1 country
Private fundsother private 6, real estate 1

$4.3bn reported value +6.6% vs Q4 2023

523positions

17.8%in top 10

20 new 158 added 180 reduced 32 sold out vs Q4 2023

This report includes the holdings of 1 other manager that shares the investment decisions:

SIT FIXED INCOME ADVISORS II LLC /ADV – reports through this filing

Shares in two reports are counted once in each security's totals.

Holdings, Q1 2024

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	MICROSOFT CORP COM MSFT	MSFT	327,489	$137.8m3.17%	3.17%	Reduced -6.2k	-6,222 -1.9%
2	APPLE INC COM AAPL	AAPL	569,520	$97.7m2.25%	2.25%	Reduced -20.3k	-20,273 -3.4%
3	BROADCOM INC COM AVGO	AVGO	66,259	$87.8m2.02%	2.02%	Reduced -2.7k	-2,697 -3.9%
4	NVIDIA CORPORATION COM NVDA	NVDA	95,315	$86.1m1.98%	1.98%	Reduced -509	-509 -0.5%
5	PUTNAM PREMIER INCOME TR SH BEN INT PPT	PPT	20,437,805	$71.9m1.65%	1.65%	Added +645.3k	+645,262 3.3%
6	PUTNAM MASTER INTER INCOME T SH BEN INT PIM	PIM	21,906,987	$70.1m1.61%	1.61%	Added +1.2m	+1,154,840 5.6%
7	MFS INTER INCOME TR SH BEN INT SH BEN INT		21,977,184	$58.5m1.34%	1.34%	Added +85.1k	+85,125 0.4%
8	BLACKROCK CR ALLOCATION INCO COM BTZ	BTZ	5,339,999	$57.1m1.31%	1.31%	Reduced -546.7k	-546,713 -9.3%
9	BLACKROCK TAX MUNICPAL BD TR SHS BBN	BBN	3,369,057	$55.0m1.27%	1.27%	Added +439.6k	+439,572 15.0%
10	DWS MUN INCOME TR COM KTF	KTF	5,716,673	$51.6m1.19%	1.19%	Added +396.6k	+396,557 7.5%
11	EATON VANCE LTD DURATION INC COM XEVVX	XEVVX	5,085,176	$49.6m1.14%	1.14%	Reduced -243.5k	-243,460 -4.6%
12	NUVEEN PFD & INCOME OPPORTUN COM JPC	JPC	6,578,667	$47.3m1.09%	1.09%	Added +72.8k	+72,775 1.1%
13	NUVEEN AMT FREE QLTY MUN INC COM XNEAX	XNEAX	4,234,205	$46.9m1.08%	1.08%	Added +838.6k	+838,598 24.7%
14	NUVEEN TAXABLE MUNICPAL INM COM NBB	NBB	3,022,481	$46.3m1.06%	1.06%	Added +371.0k	+370,958 14.0%
15	ALPHABET INC CAP STK CL A GOOGL	GOOGL	287,197	$43.3m1.00%	1.00%	Reduced -10.3k	-10,270 -3.5%
16	DOUBLELINE OPPORTUNISTIC CR COM DBL	DBL	2,765,600	$42.6m0.98%	0.98%	Reduced -96.5k	-96,482 -3.4%
17	BLACKROCK INNOVATION AND GRW SHS BEN INT BTX	BTX	5,133,914	$41.8m0.96%	0.96%	Added +3.0m	+3,016,760 142.5%
18	INSIGHT SELECT INCOME FD COM XXINSIXX	XXINSIXX	2,525,647	$41.6m0.96%	0.96%	Added +174.2k	+174,226 7.4%
19	CORNERSTONE STRATEGIC INVEST COM CLM	CLM	5,517,205	$41.5m0.95%	0.95%	Reduced -5.5m	-5,458,265 -49.7%
20	UNITEDHEALTH GROUP INC COM UNH	UNH	83,557	$41.3m0.95%	0.95%	Added +590	+590 0.7%
21	APPLIED MATLS INC COM AMAT	AMAT	195,433	$40.3m0.93%	0.93%	Reduced -13.1k	-13,130 -6.3%
22	BLACKROCK ESG CAP ALLC TERM SHS BEN INT ECAT	ECAT	2,237,701	$38.8m0.89%	0.89%	Added +124.9k	+124,907 5.9%
23	AMAZON COM INC COM AMZN	AMZN	203,346	$36.7m0.84%	0.84%	Added +53.6k	+53,634 35.8%
24	CLEARBRIDGE ENERGY MIDSTRM O COM EMO	EMO	896,205	$36.4m0.84%	0.84%	Unchanged
25	NUVEEN QUALITY MUNCP INCOME COM NAD	NAD	3,163,647	$36.3m0.83%	0.83%	Reduced -39.1k	-39,076 -1.2%
26	TCW STRATEGIC INCOME FD INC COM TSI	TSI	7,467,312	$35.9m0.83%	0.83%	Added +754.8k	+754,802 11.2%
27	NUVEEN MULTI-MKT INCOME FD COM JMM	JMM	5,370,521	$32.7m0.75%	0.75%	Added +668.4k	+668,425 14.2%
28	JPMORGAN CHASE & CO COM JPM	JPM	157,200	$31.5m0.72%	0.72%	Reduced -8.4k	-8,385 -5.1%
29	CHUBB LIMITED COM CB	CB	121,042	$31.4m0.72%	0.72%	Reduced -2.4k	-2,360 -1.9%
30	BLACKROCK MUNICIPAL INCOME COM XMUIX	XMUIX	2,574,932	$31.1m0.71%	0.71%	Added +1.1m	+1,084,317 72.7%
31	BLACKROCK INCOME TR INC COM NEW BKT	BKT	2,556,371	$30.4m0.70%	0.70%	Reduced -425.3k	-425,278 -14.3%
32	ACCENTURE PLC IRELAND SHS CLASS A ACN	ACN	87,112	$30.2m0.69%	0.69%	Added +776	+776 0.9%
33	HANCOCK JOHN INCOME SECS TR COM JHS	JHS	2,615,245	$29.2m0.67%	0.67%	Added +181.9k	+181,911 7.5%
34	NUVEEN MORTGAGE AND INCOME F COM JLS	JLS	1,642,107	$29.2m0.67%	0.67%	Added +97.1k	+97,075 6.3%
35	NUVEEN AMT FREE MUN CR INC F COM NVG	NVG	2,395,598	$29.1m0.67%	0.67%	Reduced -113.4k	-113,428 -4.5%
36	ANGEL OAK FINL STRATEGIES IN COM BEN INT FINS	FINS	2,318,059	$29.0m0.67%	0.67%	Added +1.5m	+1,512,921 187.9%
37	BLACKROCK MUNIHLDNGS CALI QL COM MUC	MUC	2,628,728	$28.9m0.67%	0.67%	Added +113.4k	+113,404 4.5%
38	EATON VANCE MUN BD FD COM EIM	EIM	2,690,366	$27.8m0.64%	0.64%	Added +1.1m	+1,074,638 66.5%
39	FIRST TR MTG INCOME FD COM SHS FMY	FMY	2,274,727	$27.7m0.64%	0.64%	Added +186.0k	+186,036 8.9%
40	EATON VANCE CALIF MUN BD FD COM XEVMX	XEVMX	2,888,942	$27.3m0.63%	0.63%	Added +236.9k	+236,866 8.9%
41	BLACKROCK HEALTH SCIENCES TE COM SHS BMEZ	BMEZ	1,662,810	$27.3m0.63%	0.63%	Added +1.2m	+1,181,677 245.6%
42	INVESCO MUN OPPORTUNITY TR COM VMO	VMO	2,775,643	$27.0m0.62%	0.62%	Added +1.6m	+1,591,873 134.5%
43	CONOCOPHILLIPS COM COP	COP	207,769	$26.4m0.61%	0.61%	Reduced -6.4k	-6,370 -3.0%
44	NUVEEN NEW JERSEY QULT MUN F COM XNXJX	XNXJX	2,148,885	$26.0m0.60%	0.60%	Added +586.7k	+586,665 37.5%
45	MILLER HOWARD HIGH INC EQTY COM SHS BEN IN XHIEX	XHIEX	2,325,806	$25.8m0.59%	0.59%	Added +396.0k	+395,999 20.5%
46	VISA INC COM CL A V	V	88,549	$24.7m0.57%	0.57%	Reduced -2.5k	-2,549 -2.8%
47	HOME DEPOT INC COM HD	HD	63,683	$24.4m0.56%	0.56%	Reduced -734	-734 -1.1%
48	INVESCO PA VALUE MUN INC TR COM VPV	VPV	2,360,040	$24.2m0.56%	0.56%	Added +499.7k	+499,743 26.9%
49	PIONEER MUN HIGH INCOME OPPO COMMON STOCK XMIOX	XMIOX	2,124,007	$24.0m0.55%	0.55%	Added +277.6k	+277,592 15.0%
50	MFS GOVT MKTS INCOME TR SH BEN INT SH BEN INT		7,476,197	$23.9m0.55%	0.55%	Added +850.5k	+850,499 12.8%
51	INVESCO TR INVT GRADE MUNS COM VGM	VGM	2,424,344	$23.9m0.55%	0.55%	Added +145.5k	+145,451 6.4%
52	NUVEEN PENNSYLVANIA QLT MUN COM XNQPX	XNQPX	2,014,586	$23.8m0.55%	0.55%	Added +580.6k	+580,644 40.5%
53	PEPSICO INC COM PEP	PEP	131,344	$23.0m0.53%	0.53%	Added +3.1k	+3,085 2.4%
54	JOHNSON & JOHNSON COM JNJ	JNJ	143,078	$22.6m0.52%	0.52%	Reduced -28.0k	-27,985 -16.4%
55	FS CREDIT OPPORTUNITIES CORP COMMON STOCK FSCO	FSCO	3,732,262	$22.1m0.51%	0.51%	Added +168.6k	+168,556 4.7%
56	UNION PAC CORP COM UNP	UNP	89,910	$22.1m0.51%	0.51%	Reduced -3.4k	-3,370 -3.6%
57	NUVEEN VRIABL RAT PFD & INM COM NPFD	NPFD	1,206,484	$21.6m0.50%	0.50%	Added +219.5k	+219,474 22.2%
58	INTUIT COM INTU	INTU	32,720	$21.3m0.49%	0.49%	Reduced -2.3k	-2,345 -6.7%
59	ABBOTT LABS COM ABT	ABT	184,744	$21.0m0.48%	0.48%	Reduced -16.0k	-16,000 -8.0%
60	VIRTUS TOTAL RETURN FD INC COM ZTR	ZTR	3,756,981	$20.9m0.48%	0.48%	Reduced -524.0k	-523,956 -12.2%
61	PIMCO DYNAMIC INCOME STRATEG COM SHS BEN INT PDX	PDX	983,674	$20.9m0.48%	0.48%	Added +573.9k	+573,878 140.0%
62	FEDEX CORP COM FDX	FDX	71,878	$20.8m0.48%	0.48%	Reduced -10.2k	-10,175 -12.4%
63	TJX COS INC NEW COM TJX	TJX	204,975	$20.8m0.48%	0.48%	Reduced -5.7k	-5,675 -2.7%
64	EATON VANCE NEW YORK MUN BD COM XENWX	XENWX	2,124,221	$20.6m0.47%	0.47%	Added +188.8k	+188,832 9.8%
65	ADOBE INC COM ADBE	ADBE	39,695	$20.0m0.46%	0.46%	Added +1.2k	+1,237 3.2%
66	ARISTA NETWORKS INC COM COM		66,044	$19.2m0.44%	0.44%	Reduced -5.3k	-5,265 -7.4%
67	GOLDMAN SACHS GROUP INC COM GS	GS	44,460	$18.6m0.43%	0.43%	Reduced -2.2k	-2,230 -4.8%
68	SALESFORCE INC COM CRM	CRM	60,460	$18.2m0.42%	0.42%	Reduced -85	-85 -0.1%
69	NUVEEN MULTI ASSET INCOME FU COM NMAI	NMAI	1,456,430	$18.1m0.42%	0.42%	Added +75.7k	+75,720 5.5%
70	INVESCO MUNICIPAL TRUST COM VKQ	VKQ	1,864,408	$18.1m0.42%	0.42%	Added +31.7k	+31,663 1.7%
71	WESTERN ASSET HIGH YIELD DEF COM HYI	HYI	1,500,654	$17.9m0.41%	0.41%	Reduced -281.0k	-281,021 -15.8%
72	ASTRAZENECA PLC SPONSORED ADR SPONSORED ADR		262,325	$17.8m0.41%	0.41%	Reduced -15.6k	-15,585 -5.6%
73	DEXCOM INC COM DXCM	DXCM	127,870	$17.7m0.41%	0.41%	Reduced -180	-180 -0.1%
74	HONEYWELL INTL INC COM COM		85,050	$17.5m0.40%	0.40%	Reduced -3.6k	-3,575 -4.0%
75	AMERIPRISE FINL INC COM AMP	AMP	39,795	$17.4m0.40%	0.40%	Reduced -740	-740 -1.8%
76	INVESCO TR INVT GRADE NEW YO COM VTN	VTN	1,613,361	$17.3m0.40%	0.40%	Added +594.0k	+594,000 58.3%
77	EXXON MOBIL CORP COM XOM	XOM	148,765	$17.3m0.40%	0.40%	Reduced -5.8k	-5,750 -3.7%
78	BLACKROCK ENHANCED GOVT FD I COM XEGFX	XEGFX	1,795,508	$17.0m0.39%	0.39%	Added +353.1k	+353,124 24.5%
79	Siemens AG COM SIEGY	SIEGY	175,037	$16.7m0.38%	0.38%	Reduced -2.1k	-2,140 -1.2%
80	ORACLE CORP COM ORCL	ORCL	131,326	$16.5m0.38%	0.38%	Reduced -35.6k	-35,625 -21.3%
81	MCDONALDS CORP COM MCD	MCD	57,519	$16.2m0.37%	0.37%	Added +1.1k	+1,150 2.0%
82	PIONEER MUNICIPAL HIGH INCOM COM SHS XMHIX	XMHIX	1,814,364	$16.0m0.37%	0.37%	Added +556.0k	+555,958 44.2%
83	THERMO FISHER SCIENTIFIC INC COM TMO	TMO	27,495	$16.0m0.37%	0.37%	Reduced -8.9k	-8,867 -24.4%
84	WESTERN ASSET INVT GRADE DEF COM IGI	IGI	904,735	$15.6m0.36%	0.36%	Added +193.6k	+193,566 27.2%
85	ALPHABET INC CAP STK CL C GOOG	GOOG	102,070	$15.5m0.36%	0.36%	Unchanged
86	NUVEEN CORE PLUS IMPACT FUND COM BEN INT NPCT	NPCT	1,487,350	$15.4m0.35%	0.35%	Added +334.5k	+334,483 29.0%
87	BOOZ ALLEN HAMILTON HLDG COR CL A BAH	BAH	100,630	$14.9m0.34%	0.34%	Reduced -1.7k	-1,675 -1.6%
88	META PLATFORMS INC CL A META	META	30,324	$14.7m0.34%	0.34%	Added +18.2k	+18,192 149.9%
89	NUVEEN MUNICIPAL CREDIT INC COM SH BEN INT NZF	NZF	1,195,425	$14.6m0.34%	0.34%	Reduced -312.8k	-312,803 -20.7%
90	WESTERN ASSET GLOBAL CORP DE COM GDO	GDO	1,148,191	$14.3m0.33%	0.33%	Added +383	+383 0.0%
91	MONDELEZ INTL INC CL A MDLZ	MDLZ	203,100	$14.2m0.33%	0.33%	Added +1.5k	+1,496 0.7%
92	NUVEEN NEW YORK AMT QLT MUNI COM NRK	NRK	1,291,192	$14.0m0.32%	0.32%	Added +1.0m	+1,048,085 431.1%
93	INVESCO DYNAMIC CREDIT O EQUITY FUNDS XAXCX	XAXCX	1,255,534	$13.9m0.32%	0.32%	New
94	GILEAD SCIENCES INC COM GILD	GILD	187,170	$13.7m0.32%	0.32%	Reduced -14.8k	-14,790 -7.3%
95	EATON VANCE SHORT DURATION D COM XEVGX	XEVGX	1,255,531	$13.3m0.30%	0.30%	Added +2.4k	+2,410 0.2%
96	GENERAL DYNAMICS CORP COM GD	GD	46,842	$13.2m0.30%	0.30%	Reduced -7.0k	-6,950 -12.9%
97	TE CONNECTIVITY LTD SHS TEL1USD	TEL1USD	89,478	$13.0m0.30%	0.30%	Added +5.4k	+5,399 6.4%
98	BLACKROCK CALIF MUN INCOME T SH BEN INT XBFZX	XBFZX	1,073,934	$12.7m0.29%	0.29%	Added +161.4k	+161,441 17.7%
99	REINSURANCE GRP OF AMERICA I COM NEW RGA	RGA	65,660	$12.7m0.29%	0.29%	Reduced -5.3k	-5,305 -7.5%
100	INTERCONTINENTAL EXCHANGE IN COM ICE	ICE	89,715	$12.3m0.28%	0.28%	Reduced -7.8k	-7,754 -8.0%

Sold out since Q4 2023

Security	Ticker	Shares held before	Value then
CBRE GBL REAL ESTATE INC FD		4,218,048	$22.9m4.2m shares
KKR INCOME OPPORTUNITIES FD KIO	KIO	639,527	$8.0m639.5k shares
BLACKROCK CORE BD TR BHK	BHK	609,846	$6.7m609.8k shares
PIMCO STRATEGIC INCOME FD RCS	RCS	791,339	$4.8m791.3k shares
SPLUNK INC SPLK	SPLK	31,415	$4.8m31.4k shares
APOLLO SR FLOATING RATE FD I		312,540	$4.1m312.5k shares
MORGAN STANLEY MS	MS	40,835	$3.8m40.8k shares
NUVEEN GLOBAL HIGH INCOME FD JGH	JGH	236,350	$2.9m236.3k shares
EATON VANCE TAX-MANAGED BUY- ETV	ETV	220,915	$2.7m220.9k shares
VOYA GLBL ADV & PREM OPP FD IGA	IGA	284,000	$2.4m284.0k shares
DTF TAX-FREE INCOME 2028 TER DTF	DTF	214,201	$2.3m214.2k shares
BLACKROCK CORPOR HI YLD FD I HYT	HYT	217,767	$2.1m217.8k shares
BLACKROCK MUN INCOME TR		122,537	$1.2m122.5k shares
EATON VANCE FLTING RATE INC EFT	EFT	67,268	$844.0k67.3k shares
CORNERSTONE TOTAL RETURN FD CRF	CRF	108,203	$764.0k108.2k shares
HALOZYME THERAPEUTICS INC HALO	HALO	20,225	$748.0k20.2k shares
ROCHE HLDG LTD FSPONSORED ADR 1 ADR RE 0.125 ORD SHS RHHBY	RHHBY	20,650	$748.0k20.6k shares
JAZZ PHARMACEUTICALS PLC JAZZ	JAZZ	5,700	$701.0k5.7k shares
M D C HLDGS INC		12,288	$679.0k12.3k shares
EATON VANCE SR FLTNG RTE TR XEFRX	XEFRX	47,685	$604.0k47.7k shares
FACTSET RESH SYS INC FDS	FDS	1,100	$525.0k1.1k shares
PHYSICIANS RLTY TR DOC	DOC	34,911	$465.0k34.9k shares
WORLD KINECT CORPORATION WKC	WKC	19,525	$445.0k19.5k shares
ELLINGTON FINANCIAL INC EFC V6.25 PERP B	EFC V6.25 PERP B	19,290	$379.0k19.3k shares
AMERICAN FINL GROUP INC OHIO AFG	AFG	2,490	$296.0k2.5k shares

Stakes above 5%

Companies where this manager has reported owning more than 5% of a class of shares, on Schedule 13D (may seek influence) or 13G (passive): its latest filing for each, from 19 Dec 2024 on. The largest 25 of 60.

Company	Ticker	Stake	Change	Schedule	Last filed
NUVEEN MULTI-MKT INCOME FD JMM · 13G · filed 2026-09-04	JMM	62.6%≈ $34.7m		13G	2026-09-04
FIRST TR MTG INCOME FD FMY · 13G · filed 2026-10-01	FMY	55.1%≈ $27.3m	+1.0 pts	13G	2026-10-01
PUTNAM MASTER INTER INCOME T PIM · 13G · filed 2026-10-01	PIM	48.2%≈ $74.9m	+1.0 pts	13G	2026-10-01
MFS GOVT MKTS INCOME TR 13G · filed 2026-10-01		37.3%≈ $34.9m	+0.6 pts	13G	2026-10-01
TCW STRATEGIC INCOME FD INC TSI · 13G · filed 2026-07-06	TSI	32.6%≈ $93.6m	-8.1 pts	13G	2026-07-06
MFS INTER INCOME TR 13G · filed 2026-10-01		31.1%≈ $87.4m	+1.2 pts	13G	2026-10-01
PUTNAM PREMIER INCOME TR PPT · 13G · filed 2026-10-01	PPT	30.9%≈ $103.2m	+0.8 pts	13G	2026-10-01
ANGEL OAK FINL STRATEGIES IN FINS · 13G · filed 2025-06-05	FINS	28.7%≈ $122.6m	+8.1 pts	13G	2025-06-05
HANCOCK JOHN INCOME SECS TR JHS · 13G · filed 2025-07-07	JHS	26.8%≈ $34.5m		13G	2025-07-07
DWS MUN INCOME TR KTF · 13G · filed 2026-10-01	KTF	22.9%≈ $82.7m	no change	13G	2026-10-01
VIRTUS GLOBAL MULTI-SECTOR I VGI · 13G · filed 2026-01-06	VGI	18.2%≈ $15.4m		13G	2026-01-06
NUVEEN MORTGAGE AND INCOME F JLS · 13G · filed 2026-05-05	JLS	16.8%≈ $16.1m	-5.6 pts	13G	2026-05-05
EATON VANCE CALIF MUN BD FD XEVMX · 13D · filed 2025-09-15	XEVMX	16.5%	+1.0 pts	13D	2025-09-15
EATON VANCE NEW YORK MUN BD XENWX · 13D · filed 2025-09-08	XENWX	15.6%	+1.2 pts	13D	2025-09-08
BLACKROCK INCOME TR INC BKT · 13D · filed 2025-03-26	BKT	14.2%≈ $36.9m	no change	13D	2025-03-26
BLACKROCK CORE BD TR BHK · 13G · filed 2025-07-07	BHK	13.9%≈ $92.2m	new	13G	2025-07-07
DTF TAX-FREE INCOME 2028 TER DTF · 13G · filed 2026-03-04	DTF	13.1%≈ $10.7m	+4.3 pts	13G	2026-03-04
NEUBERGER BERMAN HIGH YIELD NHS · 13G · filed 2026-05-05	NHS	13.0%≈ $34.0m	new	13G	2026-05-05
CREDIT SUISSE HIGH YIELD BD XDHYX · 13G · filed 2026-06-04	XDHYX	12.9%≈ $31.7m	new	13G	2026-06-04
WESTERN ASSET INVT GRADE DEF IGI · 13G · filed 2026-01-06	IGI	12.8%≈ $12.4m	+7.2 pts	13G	2026-01-06
NUVEEN REAL ASSET INCOME & G JRI · 13G · filed 2026-04-06	JRI	12.1%≈ $56.6m	new	13G	2026-04-06
WESTERN ASSET INVESTMENT GRA PAI · 13G · filed 2026-01-06	PAI	12.1%≈ $13.9m		13G	2026-01-06
PIONEER MUNICIPAL HIGH INCOM XMHIX · 13G · filed 2025-08-05	XMHIX	11.5%		13G	2025-08-05
INVESCO BD FD VBF · 13G · filed 2026-06-04	VBF	11.2%≈ $19.3m	+5.3 pts	13G	2026-06-04
CLOUGH GLOBAL EQUITY FD XGLQX · 13G · filed 2026-03-04	XGLQX	11.2%≈ $18.1m		13G	2026-03-04