Sit Investment Associates, Inc
SEC-registered
Mutual Fund / Asset Manager · Mid-sized ($1B–$10B)
CRD 105725
· SEC file 801-16350
· Minneapolis, MN
· WWW.SITINVEST.COM
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ADV data as of Jun 22, 2026
- Regulatory AUM
- $3.5B
- Discretionary
- $3.5B
- Clients
- 44
- Avg AUM / client
- $80.5M
- Accounts
- 80
- Employees
- 73
AUM over time
$3.2B
$6.6B
Dec 2011
Jun 2026
Annual snapshots from Form ADV filings · as of Jun 22, 2026
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| Individuals (non-high net worth) | Fewer than 5 | $0 | — |
| High net worth individuals | 17 | $214M | 6.05% |
| Banking or thrift institutions | Fewer than 5 | $0 | — |
| Investment companies | 14 | $1.9B | 53.7% |
| Pooled investment vehicles (non-investment companies) | 8 | $341M | 9.63% |
| Pension and profit sharing plans | Fewer than 5 | $212M | 5.98% |
| Charitable organizations | 5 | $449M | 12.7% |
| State or municipal government entities | Fewer than 5 | $54.4M | 1.54% |
| Other investment advisers | Fewer than 5 | $0 | — |
| Insurance companies | Fewer than 5 | $188M | 5.31% |
| Sovereign wealth funds and foreign official institutions | Fewer than 5 | $0 | — |
| Corporations and other businesses | Fewer than 5 | $182M | 5.12% |
Private funds (8)
Reported in Form ADV Section 7.B.(1), filing of Mar 2024 · $189M combined gross assets
| Fund | Type | Domicile | Gross assets | Owners |
|---|---|---|---|---|
| Sit Capital Fund, L.P. | Other Private Fund | Minnesota | $79.7M | 13 |
| Sit Global Fund, Llc | Other Private Fund | Delaware | $39.3M | 4 |
| Sit Global Dividend Growth Fund, Llc | Other Private Fund | Delaware | $23.8M | 11 |
| Sit Small Cap Fund, Llc | Other Private Fund | Delaware | $16.9M | 3 |
| Sit Large Cap Fund, Llc | Other Private Fund | Delaware | $11.5M | 4 |
| Sit Pacific Basin Fund, Llc | Other Private Fund | Delaware | $10.3M | 6 |
| Sit Small Cap Fund Ii, Llc | Other Private Fund | Delaware | $5.5M | 3 |
| Sit Fund I, Llc | Real Estate Fund | Delaware | $1.6M | 15 |
Retirement plan clients
Plans that reported this firm as an investment service provider on Form 5500 Schedule C.
| Plan | Location | Plan year |
|---|---|---|
| U. A. Local 38 Defined Benefit Pension Plan Board Of Trustees Of U. A. Local 38 Trust Funds | 2024 | |
| Mayo Pension Plan Mayo Clinic | 2024 | |
| Federated Mutual Retirement Plan Federated Mutual Insurance Company | 2024 | |
| Children's Minnesota Rsvp Plan Ii Childrens Hospitals And Clinics Of Minnesota | 2024 | |
| Twin City Hospitals Minnesota Nurses Association Pension Plan Pension Committee Under Twin City Hospitals Minnesota Nurses | 2024 | |
| The Institute Of Electrical And Electronics Engineers, Incorporated Employees' Retirement Plan Institute Of Electrical And Electronics Engineers, Inc. | 2024 |
People (6)
| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Rasmussen, Paul, Edward | Vice President, Chief Compliance Officer | Dec 1998 (28y) | Less than 5% | |
| Sit, Roger, J | President, Ceo & Global Cio, Director, Trustee | Feb 2008 (19y) | 50% – 75% | |
| Sit, Gail, V. | Shareholder | Jun 2008 (18y) | 25% – 50% | |
| Sit, Ronald, D. | Vice President, Director, Trustee | Dec 2009 (17y) | 50% – 75% | |
| Sit, Robert, W | Vice President | Dec 2010 (16y) | 10% – 25% | |
| Sit, Raymond, Eugene | Vice President | Dec 2015 (11y) | 5% – 10% |
Entity owners (Schedule A/B)
| Entity | Title / status | Since | Sch. | Ownership |
|---|---|---|---|---|
| Gail V. Sit Family Trust | Shareholder | Dec 2009 | A | 25% – 50% |
Roster from the IAPD representatives feed; ownership and acquisition dates from Form ADV Schedule A/B. "Since" is the earliest filed registration or acquisition date.
Private funds (8, $189M gross assets)
| Fund | Type | Gross assets | Min. investment | Owners |
|---|---|---|---|---|
| Sit Capital Fund, L.P. | Other Private Fund | $79.7M | $1.0M | 13 |
| Sit Global Fund, Llc | Other Private Fund | $39.3M | $1.0M | 4 |
| Sit Global Dividend Growth Fund, Llc | Other Private Fund | $23.8M | $500K | 11 |
| Sit Small Cap Fund, Llc | Other Private Fund | $16.9M | $1.0M | 3 |
| Sit Large Cap Fund, Llc | Other Private Fund | $11.5M | $1.0M | 4 |
| Sit Pacific Basin Fund, Llc | Other Private Fund | $10.3M | $1.0M | 6 |
| Sit Small Cap Fund Ii, Llc | Other Private Fund | $5.5M | $1.0M | 3 |
| Sit Fund I, Llc | Real Estate Fund | $1.6M | $30.0K | 15 |
From Form ADV Section 7.B private fund reporting.
Retirement plans served (6)
| Plan | Sponsor | Participants | Plan assets | As of |
|---|---|---|---|---|
| U. A. Local 38 Defined Benefit Pension Plan | Board Of Trustees Of U. A. Local 38 Trust Funds | 1,381 | $555M | 07/01/2024 |
| Mayo Pension Plan | Mayo Clinic | 74,151 | $11.8B | 01/01/2024 |
| Federated Mutual Retirement Plan | Federated Mutual Insurance Company | 2,699 | $789M | 01/01/2024 |
| Children's Minnesota Rsvp Plan Ii | Childrens Hospitals And Clinics Of Minnesota | 140 | $23.3M | 01/01/2024 |
| Twin City Hospitals Minnesota Nurses Association Pension Plan | Pension Committee Under Twin City Hospitals Minnesota Nurses | 16,212 | $2.4B | 01/01/2024 |
| The Institute Of Electrical And Electronics Engineers, Incorporated Employees' Retirement Plan | Institute Of Electrical And Electronics Engineers, Inc. | 262 | $58.3M | 01/01/2024 |
From Form 5500 service-provider disclosures.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 06/22/2026 | 2.47 MB | View · PDF · Source ↗ |
Archived copies of the firm's regulatory filings, versioned by content hash.
Disciplinary disclosures
No disciplinary events reported on the firm's latest Form ADV filing.
How they charge
- • Percentage of assets under management
Services
- • Portfolio management for individuals/small businesses
- • Portfolio management for investment companies
- • Portfolio management for pooled investment vehicles
- • Portfolio management for businesses/institutional clients
Custody
Reported custodians
- Northern Trust $830M (23% of AUM) Jun 2026
- Us Bancorp $199M (6% of AUM) Aug 2023
- BNY Mellon $185M (5% of AUM) Jun 2026
- Fidelity Investments Institutional Services Company, Inc. $179M (5% of AUM) Jun 2026
- Wells Fargo $172M (5% of AUM) Aug 2021
- Comerica Bank Trust National Association $124M (3% of AUM) Dec 2018
- National Financial Services (Fidelity) $106M (3% of AUM) Aug 2021
Amounts as reported in ADV Item 5.K.(3) (custodians holding 10%+ of SMA assets).
Firm reports having custody of client funds or securities (Item 9.A).
Source
All data on this page comes from this firm's Form ADV filings, reproduced without modification. Latest filing: Jun 22, 2026.
View current Form ADV (SEC/IAPD) ↗