Clients
Sit Fixed Income Advisors II serves 115 clients, 15 of them high-net-worth individuals. The average client has about $130 million with the firm, and high-net-worth clients hold 2% of its $15 billion in assets.
- Investment companies1 clients4%
- Pooled investment vehicles24 clients9%
- Pension and profit-sharing plans8 clients11%
- Charitable organizations31 clients28%
- State or municipal government entities6 clients12%
- OtherInsurance companies, High-net-worth individuals, Corporations and other businesses35%
Show client breakdownHide client breakdown
| Client type | Clients | Regulatory AUM | Share | Avg. per client |
|---|---|---|---|---|
| High-net-worth individuals | 15 | $248,378,377 | 1.7% | $16.6M |
| Investment companies | 1 | $587,720,558 | 3.9% | $587.7M |
| Pooled investment vehicles | 24 | $1,401,608,691 | 9.4% | $58.4M |
| Pension and profit-sharing plans | 8 | $1,604,511,527 | 10.7% | $200.6M |
| Charitable organizations | 31 | $4,236,855,608 | 28.3% | $136.7M |
| State or municipal government entities | 6 | $1,865,664,345 | 12.5% | $310.9M |
| Insurance companies | 23 | $4,802,450,380 | 32.1% | $208.8M |
| Corporations and other businesses | 7 | $223,179,564 | 1.5% | $31.9M |
| Total | 115 | $14,970,369,050 | 100% | $130.2M |
- Clients
- 15
- Regulatory AUM
- $248,378,377
- Share
- 1.7%
- Avg. per client
- $16.6M
- Clients
- 1
- Regulatory AUM
- $587,720,558
- Share
- 3.9%
- Avg. per client
- $587.7M
- Clients
- 24
- Regulatory AUM
- $1,401,608,691
- Share
- 9.4%
- Avg. per client
- $58.4M
- Clients
- 8
- Regulatory AUM
- $1,604,511,527
- Share
- 10.7%
- Avg. per client
- $200.6M
- Clients
- 31
- Regulatory AUM
- $4,236,855,608
- Share
- 28.3%
- Avg. per client
- $136.7M
- Clients
- 6
- Regulatory AUM
- $1,865,664,345
- Share
- 12.5%
- Avg. per client
- $310.9M
- Clients
- 23
- Regulatory AUM
- $4,802,450,380
- Share
- 32.1%
- Avg. per client
- $208.8M
- Clients
- 7
- Regulatory AUM
- $223,179,564
- Share
- 1.5%
- Avg. per client
- $31.9M
Total
- Clients
- 115
- Regulatory AUM
- $14,970,369,050
- Share
- 100%
- Avg. per client
- $130.2M
What it does
Sit Fixed Income Advisors II provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled vehicles and portfolio management for institutions. It is paid through a percentage of assets and performance-based fees.
Sit Fixed Income Advisors II advises 18 private funds.
99.1% of assets ($14.83B across 155 accounts) are managed with discretion; $139.2M across 3 accounts are not. 4% of clients are outside the U.S., and 0 clients received advice without assets under management last fiscal year.
What the accounts hold
- Funds14%
- Bonds85%
- State and local bonds38%
- U.S. government and agency bonds33%
- Investment grade corporate bonds14%
- Cash1%
Custodians
Sit Fixed Income Advisors II’s client accounts are held mainly at The Northern Trust, with 42% of managed assets, and The Bank of New York Mellon, with 20%. Sit Fixed Income Advisors II has custody of $922.8M for 20 clients.
- The Bank of New York MellonThe Bank of New York Mellon · New York, NY · $3.01B20%
- The Northern TrustThe Northern Trust Company · Chicago, IL · $6.28B42%
- U.S. BancorpU.S. Bancorp · Minneapolis, MN · $1.86B12%
- All other custodians$3.82B26%
Ownership and leadership
Sit Investment Associates, Inc owns 50% to 75% of Sit Fixed Income Advisors II.
- Owns 50% to 75% of Sit Fixed Income Advisors II, LLC
Sit Investment Associates, Inc
Control person · since December 1997
- Owns 25% to 50% of Sit Investment Associates, Inc
Gail V. Sit Family Trust
Control person · since June 2008
Roger Sit
Trustee · Control person · since April 2007
Ronald Sit
Trustee · Control person · since April 2007
Samuel Kaplan
Trustee · Control person · since August 2019
- Owns 5% to 10% of Sit Fixed Income Advisors II, LLC
Bryce Doty
Control person · since June 2013
- Owns 5% to 10% of Sit Fixed Income Advisors II, LLC
Paul Jungquist
Control person · since December 2015
- Owns 5% to 10% of Sit Fixed Income Advisors II, LLC
Mark Book
Control person · since June 2002
Leadership
- Mark BookVice President and Portfolio Manager
- Bryce DotySenior Vice President, Senior Portfolio Manager
- Paul JungquistSenior Vice President, Senior Portfolio Manager
- Paul RasmussenVice President, Secretary, Chief Compliance Officer
- Roger SitChairman and CEO
Staff
- 73 employees
- 35 in advisory functions
Fees
Sit Fixed Income Advisors II is paid through a percentage of assets under management and performance-based fees.
Sit Fixed Income Advisors II’s fee rates are not included in this profile. Find its brochure on the SEC’s site.
Offices and registrations
Besides its headquarters, Sit Fixed Income Advisors II has 0 offices, with 1 listed address in 1 state.
Minnesota · 1 listed address
- 3300 Ids Center, 80 South 8th Street, MinneapolisHQ
Registration details
- Legal name
- Sit Fixed Income Advisors II, LLC
- Headquarters
- 3300 Ids Center, 80 South 8th Street, Minneapolis, MN 55402
- Phone
- 612-332-3223
- Website
- Not reported
- SEC file
- 801-55201
- Structure
- Delaware LLC
- Fiscal year end
- December
This directory does not report disciplinary history, for any firm or individual, in either direction. The SEC publishes the complete record, including any disciplinary events, and it is the authoritative place to check one. See this firm's record on adviserinfo.sec.gov
Common questions
How many clients does Sit Fixed Income Advisors II have?
Sit Fixed Income Advisors II has 115 clients and manages $15 billion for them, as of June 2026. They include 31 charitable organizations, 24 pooled investment vehicles and 23 insurance companies.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 22 June 2026
What services does Sit Fixed Income Advisors II offer?
Sit Fixed Income Advisors II provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled vehicles and portfolio management for institutions.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does Sit Fixed Income Advisors II use?
Sit Fixed Income Advisors II’s separately managed account assets are held at The Northern Trust Company (Chicago, IL), with $6,282,425,343, The Bank of New York Mellon (New York, NY), with $3,008,281,422 and U.S. Bancorp (Minneapolis, MN), with $1,860,566,280. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 22 June 2026
How many financial advisors does Sit Fixed Income Advisors II have?
Sit Fixed Income Advisors II has 0 investment adviser representatives registered with state securities authorities, out of 73 employees, and 35 perform investment advisory functions. None are registered representatives of a broker-dealer or licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Sit Fixed Income Advisors II invest in?
At the end of its last fiscal year, Sit Fixed Income Advisors II’s separately managed accounts held 38% state and local bonds, 33% U.S. government and agency bonds, 14% investment grade corporate bonds, 14% registered funds (mutual funds, ETFs, BDCs) and 1% cash and equivalents. It advises 18 private funds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Sit Fixed Income Advisors II?
Sit Fixed Income Advisors II’s direct owners are Sit Investment Associates, Inc (50% to 75%), Bryce Doty (5% to 10%), Paul Jungquist (5% to 10%) and Mark Book (5% to 10%).
Source: Form ADV Part 1A, Schedules A and B, filed 22 June 2026
How does Sit Fixed Income Advisors II get paid?
Sit Fixed Income Advisors II is paid through a percentage of assets under management and performance-based fees. Its Form ADV lists no commissions among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file