[SCHEDULE 13G] CREDIT SUISSE HIGH YIELD CREDIT FUND Passive Investment Disclosure (>5%)
Sit reports 17.8M shares (12.9%) of DHY
CREDIT SUISSE HIGH YIELD CREDIT FUND ownership disclosure: Sit Investment Associates, Inc. and Sit Fixed Income Advisors II, LLC report shared beneficial ownership of 17,806,203 shares of Common Stock, representing 12.9% of the class.
CREDIT SUISSE HIGH YIELD CREDIT FUND ownership disclosure: Sit Investment Associates, Inc. and Sit Fixed Income Advisors II, LLC report shared beneficial ownership of 17,806,203 shares of Common Stock, representing 12.9% of the class. The percentage is calculated using October 31, 2025 outstanding shares of 138,146,165, adjusted for the issuer's rights offering on May 14, 2026. The filing states the shares are owned by client accounts managed by the advisers and that the advisers disclaim beneficial ownership pursuant to Rule 13d-4. The filing is a joint disclosure signed by Paul E. Rasmussen on June 4, 2026.
Positive
None.
Negative
None.
Insights
SIA/SFI report a significant passive holding of the fund via managed accounts.
Sit Investment Associates and its subsidiary report shared voting and dispositive power over 17,806,203 shares, equal to 12.9% of the issuer based on October 31, 2025 outstanding shares adjusted for the May 14, 2026 rights offering. The filing characterizes the position as held on behalf of client Accounts rather than directly by the advisers.
The advisers invoke Rule 13d-4 disclaimers and state the holdings arise from managed Accounts. Cash-flow treatment and any intended disposition strategies are timing not specified in the provided excerpt, and future filings would show changes in voting or disposition if they occur.
Key Figures
Shares beneficially owned:17,806,203 sharesPercent of class:12.9%Shares outstanding:138,146,165 shares
3 metrics
Shares beneficially owned17,806,203 sharesreported shared ownership by SIA and SFI
Percent of class12.9%based on outstanding shares as of <date>October 31, 2025</date>
Shares outstanding138,146,165 sharesas of <date>October 31, 2025</date> per issuer Form N-CSR, adjusted for rights offering on <date>May 14, 2026</date>
Key Terms
Schedule 13G, shared voting power, Rule 13d-4
3 terms
Schedule 13Gregulatory
"Item 1. (a) Name of issuer: CREDIT SUISSE HIGH YIELD CREDIT FUND"
A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.
shared voting powerfinancial
"Shared Voting Power 17,806,203.00"
Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.
Rule 13d-4regulatory
"Pursuant to Rule 13d-4 of the Securities Exchange Act of 1934"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What stake does Sit Investment Associates report in CREDIT SUISSE HIGH YIELD CREDIT FUND (DHY)?
They report shared beneficial ownership of 17,806,203 shares, representing 12.9% of the class. This percentage is based on 138,146,165 shares outstanding as of October 31, 2025, and adjusted for the rights offering on May 14, 2026.
Do Sit Investment Associates and Sit Fixed Income Advisors claim direct ownership of the DHY shares?
No. The filing states the shares are owned by client Accounts managed by the advisers and the firms disclaim beneficial ownership under Rule 13d-4. The advisers report shared voting and dispositive power for those Accounts.
How was the 12.9% ownership percentage calculated in the filing?
The percentage uses 138,146,165 shares outstanding as of October 31, 2025, per the issuer's Form N-CSR, and is adjusted for the issuer's rights offering on May 14, 2026. The filing links the percentage to those figures.
Who signed the Schedule 13G on behalf of Sit Investment Associates and Sit Fixed Income Advisors?
The joint filing is signed by Paul E. Rasmussen, Vice President, with signatures dated June 4, 2026. The filing also includes a Joint Filing Agreement as Exhibit A to document the joint reporting arrangement.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
CREDIT SUISSE HIGH YIELD CREDIT FUND
(Name of Issuer)
Common Stock
(Title of Class of Securities)
22544F103
(CUSIP Number)
05/29/2026
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)
schemaVersion:
SCHEDULE 13G
CUSIP Number(s):
22544F103
1
Names of Reporting Persons
Sit Investment Associates, Inc.
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
MINNESOTA
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
17,806,203.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
17,806,203.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
17,806,203.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
12.9 %
12
Type of Reporting Person (See Instructions)
IA
SCHEDULE 13G
CUSIP Number(s):
22544F103
1
Names of Reporting Persons
Sit Fixed Income Advisors II, LLC
2
Check the appropriate box if a member of a Group (see instructions)
(a)
(b)
3
Sec Use Only
4
Citizenship or Place of Organization
DELAWARE
Number of Shares Beneficially Owned by Each Reporting Person With:
5
Sole Voting Power
0.00
6
Shared Voting Power
17,806,203.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
17,806,203.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
17,806,203.00
10
Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)
11
Percent of class represented by amount in row (9)
12.9 %
12
Type of Reporting Person (See Instructions)
IA
SCHEDULE 13G
Item 1.
(a)
Name of issuer:
CREDIT SUISSE HIGH YIELD CREDIT FUND
(b)
Address of issuer's principal executive offices:
1290 Avenue of the Americas, New York, New York 10019
Item 2.
(a)
Name of person filing:
Sit Investment Associates, Inc.
Sit Fixed Income Advisors II, LLC
(b)
Address or principal business office or, if none, residence:
c/o Sit Investment Associates, Inc.
80 South Eighth Street, Suite 3300
Minneapolis, MN 55402
(c)
Citizenship:
Sit Investment Associates, Inc. Minnesota Corporation
Sit Fixed Income Advisors II, LLC Delaware LLC
(d)
Title of class of securities:
Common Stock
(e)
CUSIP Number(s):
22544F103
Item 3.
If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)
Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)
Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)
Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)
Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)
An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)
An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)
A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)
A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)
A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)
A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J),
please specify the type of institution:
(k)
Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.
Ownership
(a)
Amount beneficially owned:
See response to item 9 on each cover page.
(b)
Percent of class:
See response to item 11 on each cover page.
(c)
Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote:
See response to item 5 on each cover page.
(ii) Shared power to vote or to direct the vote:
See response to item 6 on each cover page.
(iii) Sole power to dispose or to direct the disposition of:
See response to item 7 on each cover page.
(iv) Shared power to dispose or to direct the disposition of:
See response to item 8 on each cover page.
The ownership percentages reported are based on 138,146,165 shares of common stock outstanding as of October 31, 2025, as reported in the Issuer's Report on Form N-CSR filed with the Securities Exchange Commission and adjusted for the Issuer's rights offering on May 14, 2026.
Sit Investment Associates, Inc. ("SIA") is an investment adviser registered under section 203 of the Investment Advisers Act of 1940. Sit Fixed Income Advisors II, LLC ("SFI") is an investment adviser registered under section 203 of the Investment Advisers Act of 1940 and a subsidiary of SIA. SIA and SFI provide investment management services to client accounts ("Accounts"). In their roles as investment advisers SIA and SFI possess shared voting and investment power over securities of the Issuer described in this schedule 13G owned by the Accounts and may be deemed to be the beneficial owner of such shares of the Issuer owned by the Accounts. All securities reported in this schedule 13G are owned by the Accounts. Pursuant to Rule 13d-4 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), SIA and SFI disclaim beneficial ownership of such securities.
Item 5.
Ownership of 5 Percent or Less of a Class.
Not Applicable
Item 6.
Ownership of more than 5 Percent on Behalf of Another Person.
If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required.
The Accounts are known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities.
Except as may be indicated if this is a joint filing with a registered investment company managed by SIA or SFI, not more than 5% of the class of such securities is owned by any one Account subject to the investment advice of SIA or SFI.
Item 7.
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
Not Applicable
Item 8.
Identification and Classification of Members of the Group.
Not Applicable
Item 9.
Notice of Dissolution of Group.
Not Applicable
Item 10.
Certifications:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
