Saturna Capital 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

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COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
3M	Common Stock	88579Y101	35,499	202,367	SH		SOLE	0	200,000	0	2,367
Abbott Laboratories	Common Stock	002824100	51,628	437,043	SH		SOLE	0	373,499	0	63,544
AbbVie	Common Stock	00287Y109	39,444	365,667	SH		SOLE	0	350,000	0	15,667
AC Immune SA	Common Stock	H00263105	74	11,100	SH		SOLE	0	0	0	11,100
Accenture, Class A	Common Stock	G1151C101	5,094	15,923	SH		SOLE	0	10,850	0	5,073
ACI Worldwide	Common Stock	004498101	387	12,600	SH		SOLE	0	0	0	12,600
Adobe	Common Stock	00724F101	262,704	423,574	SH		SOLE	0	408,600	0	14,974
Agilent Technologies	Common Stock	00846U101	141,086	911,328	SH		SOLE	0	900,000	0	11,328
Agnico-Eagle Mines	Common Stock	008474108	389	7,510	SH		SOLE	0	0	0	7,510
Air Products & Chemicals	Common Stock	009158106	28,567	111,540	SH		SOLE	0	110,000	0	1,540
Alcon	ADR	H01301128	2,096	26,048	SH		SOLE	0	25,000	0	1,048
Alphabet inc., C	Common Stock	02079K107	267	100	SH		SOLE	0	0	0	100
Alphabet, Class A	Common Stock	02079K305	45,145	16,035	SH		SOLE	0	14,184	0	1,851
Amazon.com	Common Stock	023135106	6,183	1,882	SH		SOLE	0	1,445	0	437
Amgen	Common Stock	031162100	73,184	360,046	SH		SOLE	0	355,880	0	4,166
ANAVEX LIFE SCIENCES CORP COM NEW	Common Stock	032797300	244	13,600	SH		SOLE	0	0	0	13,600
Aon PLC	Common Stock	G0403H108	476	1,664	SH		SOLE	0	0	0	1,664
Apple	Common Stock	037833100	331,336	2,269,648	SH		SOLE	0	2,062,400	0	207,248
ASML Holding NY	Common Stock	N07059210	252,743	321,382	SH		SOLE	0	320,590	0	792
AT&T	Common Stock	00206R102	335	12,391	SH		SOLE	0	7,500	0	4,891
Athira Pharma, Inc	Common Stock	04746L104	158	16,850	SH		SOLE	0	0	0	16,850
Atlassian	Common Stock	G06242104	583	1,490	SH		SOLE	0	1,490	0	0
Barrick Gold	Common Stock	067901108	2,808	155,552	SH		SOLE	0	110,000	0	45,552
BCE	Common Stock	05534B760	308	6,150	SH		SOLE	0	4,000	0	2,150
BHP Biliton ADR	ADR	088606108	521	9,733	SH		SOLE	0	5,500	0	4,233
Biohaven Pharmaceutical Holding Com	Common Stock	G11196105	283	2,040	SH		SOLE	0	0	0	2,040
BioNTech SE	Common Stock	09075V102	628	2,300	SH		SOLE	0	0	0	2,300
Booking Holdings	Common Stock	09857L108	366	154	SH		SOLE	0	0	0	154
Bristol-Myers Squibb	Common Stock	110122108	40,389	682,596	SH		SOLE	0	654,000	0	28,596
Butterfly Network, Inc.	Common Stock	124155102	224	21,500	SH		SOLE	0	0	0	21,500
Canadian National Railway	Common Stock	136375102	47,185	408,000	SH		SOLE	0	396,000	0	12,000
Canadian Pacific Railway	Common Stock	13645T100	260	4,000	SH		SOLE	0	0	0	4,000
Carlisle	Common Stock	142339100	48,644	244,700	SH		SOLE	0	244,000	0	700
Cassava Sciences, Inc.	Common Stock	14817C107	3,439	55,400	SH		SOLE	0	0	0	55,400
CGI Group Inc Class A	Common Stock	12532H104	509	6,000	SH		SOLE	0	0	0	6,000
Charles River Laboratories	Common Stock	159864107	1,484	3,595	SH		SOLE	0	0	0	3,595
Chubb	Common Stock	H1467J104	487	2,810	SH		SOLE	0	2,810	0	0
Church & Dwight	Common Stock	171340102	101,592	1,225,285	SH		SOLE	0	1,203,400	0	21,885
Cisco Systems	Common Stock	17275R102	117,369	2,135,143	SH		SOLE	0	2,077,000	0	58,143
Clorox	Common Stock	189054109	26,705	166,140	SH		SOLE	0	164,200	0	1,940
Colgate-Palmolive	Common Stock	194162103	32,799	433,966	SH		SOLE	0	433,400	0	566
Columbia Sportswear	Common Stock	198516106	575	6,000	SH		SOLE	0	0	0	6,000
Comfort Systems USA	Common Stock	199908104	642	9,000	SH		SOLE	0	0	0	9,000
ConocoPhillips	Common Stock	20825C104	339	5,000	SH		SOLE	0	4,000	0	1,000
Corteva	Common Stock	22052L104	2,268	53,889	SH		SOLE	0	27,500	0	26,389
Cortexyme, Inc.	Common Stock	22053A107	468	5,110	SH		SOLE	0	0	0	5,110
Costco Wholesale	Common Stock	22160K105	2,019	4,493	SH		SOLE	0	3,509	0	984
CRISPR Therapeutics AG	Common Stock	H17182108	210	1,880	SH		SOLE	0	0	0	1,880
CSW Industrials, Inc.	Common Stock	126402106	894	7,000	SH		SOLE	0	0	0	7,000
Denali	Common Stock	24823R105	252	5,000	SH		SOLE	0	0	0	5,000
DermTech Inc.	Common Stock	24984K105	453	14,100	SH		SOLE	0	0	0	14,100
DocuSign	Common Stock	256163106	232	900	SH		SOLE	0	0	0	900
Duke Realty	Common Stock	264411505	623	13,020	SH		SOLE	0	0	0	13,020
Ecolab	Common Stock	278865100	3,070	14,717	SH		SOLE	0	4,727	0	9,990
EDAP TMS S.A.	Common Stock	268311107	213	33,400	SH		SOLE	0	0	0	33,400
Editas Medicine	Common Stock	28106W103	678	16,500	SH		SOLE	0	0	0	16,500
Edwards Lifesciences	Common Stock	28176E108	2,628	23,215	SH		SOLE	0	17,100	0	6,115
Elanco Animal Health	Common Stock	28414H103	613	19,209	SH		SOLE	0	0	0	19,209
Eli Lilly	Common Stock	532457108	215,412	920,303	SH		SOLE	0	910,000	0	10,303
EMCOR Group	Common Stock	29084Q100	10,560	89,650	SH		SOLE	0	89,650	0	0
Enphase Energy	Common Stock	29355A107	210	1,400	SH		SOLE	0	0	0	1,400
Equinor ADR	ADR	29446M102	434	17,000	SH		SOLE	0	17,000	0	0
Estee Lauder, Class A	Common Stock	518439104	146,586	460,556	SH		SOLE	0	458,594	0	1,962
Etsy, Inc.	Common Stock	29786A106	830	3,990	SH		SOLE	0	0	0	3,990
Exponent	Common Stock	30214U102	792	7,000	SH		SOLE	0	0	0	7,000
Facebook, Class A	Common Stock	30303M102	1,377	4,058	SH		SOLE	0	3,750	0	308
Fastenal	Common Stock	311900104	35,713	642,300	SH		SOLE	0	635,800	0	6,500
Fortune Brands Home & Security	Common Stock	34964C106	1,131	12,650	SH		SOLE	0	0	0	12,650
GAMCO	Common Stock	361438104	755	28,607	SH		SOLE	0	28,607	0	0
Gartner	Common Stock	366651107	57,048	180,641	SH		SOLE	0	179,900	0	741
Genuine Parts	Common Stock	372460105	47,664	393,170	SH		SOLE	0	382,000	0	11,170
GlaxoSmithKline ADS	ADR	37733W105	17,220	450,680	SH		SOLE	0	416,500	0	34,180
Hasbro	Common Stock	418056107	799	8,950	SH		SOLE	0	0	0	8,950
Home Depot	Common Stock	437076102	3,069	9,349	SH		SOLE	0	2,100	0	7,249
Honeywell International	Common Stock	438516106	55,631	262,062	SH		SOLE	0	261,000	0	1,062
ICF International	Common Stock	44925C103	1,000	11,200	SH		SOLE	0	0	0	11,200
Idacorp	Common Stock	451107106	1,365	13,200	SH		SOLE	0	0	0	13,200
Illinois Tool Works	Common Stock	452308109	65,336	316,196	SH		SOLE	0	300,000	0	16,196
Immutep Ltd	Common Stock	45257L108	358	92,500	SH		SOLE	0	0	0	92,500
Intel	Common Stock	458140100	49,899	936,550	SH		SOLE	0	903,500	0	33,050
Intuit	Common Stock	461202103	261,050	462,971	SH		SOLE	0	450,000	0	12,971
Invesco QQQ Trust	Common Stock	46090E103	370	1,034	SH		SOLE	0	0	0	1,034
Johnson & Johnson	Common Stock	478160104	81,136	505,640	SH		SOLE	0	483,815	0	21,825
Johnson Controls International	Common Stock	G51502105	77,848	1,081,830	SH		SOLE	0	1,072,050	0	9,780
JP Morgan Chase	Common Stock	46625H100	1,105	6,751	SH		SOLE	0	4,850	0	1,901
Juniper Networks	Common Stock	48203R104	571	20,760	SH		SOLE	0	0	0	20,760
Kansas City Southern Industries	Common Stock	485170302	1,949	7,200	SH		SOLE	0	7,200	0	0
Keysight Technologies	Common Stock	49338L103	86,315	500,000	SH		SOLE	0	500,000	0	0
Kimberly-Clark	Common Stock	494368103	31,117	234,950	SH		SOLE	0	230,000	0	4,950
Koninklijke Philips	Common Stock	500472303	2,513	56,553	SH		SOLE	0	55,153	0	1,400
Lincoln Electric Holdings	Common Stock	533900106	43,318	310,700	SH		SOLE	0	307,000	0	3,700
Linde	Common Stock	G5494J103	40,331	137,471	SH		SOLE	0	136,500	0	971
Lowe's	Common Stock	548661107	95,460	433,343	SH		SOLE	0	415,000	0	18,343
Mastercard, Class A	Common Stock	57636Q104	5,053	14,533	SH		SOLE	0	10,274	0	4,259
McCormick & Co	Common Stock	579780206	50,181	619,292	SH		SOLE	0	601,000	0	18,292
MercadoLibre	Common Stock	58733R102	6,919	4,120	SH		SOLE	0	4,120	0	0
Merck & Co	Common Stock	58933Y105	868	11,555	SH		SOLE	0	0	0	11,555
Mesa Laboratories	Common Stock	59064R109	544	1,800	SH		SOLE	0	0	0	1,800
Micro Focus International	ADR	594837403	163	30,000	SH		SOLE	0	30,000	0	0
Microchip Technology	Common Stock	595017104	346	2,257	SH		SOLE	0	0	0	2,257
Microsoft	Common Stock	594918104	162,000	563,831	SH		SOLE	0	541,158	0	22,673
Momentive Global	Common Stock	60878Y108	406	20,700	SH		SOLE	0	0	0	20,700
Monolithic Power Systems	Common Stock	609839105	1,896	3,911	SH		SOLE	0	3,900	0	11
Monster Beverage	Common Stock	61174X109	2,696	30,350	SH		SOLE	0	14,500	0	15,850
Moody's	Common Stock	615369105	2,020	5,689	SH		SOLE	0	0	0	5,689
Motorola Solutions	Common Stock	620076307	1,416	6,095	SH		SOLE	0	6,000	0	95
Newmont	Common Stock	651639106	44,810	796,504	SH		SOLE	0	772,000	0	24,504
NextEra Energy	Common Stock	65339F101	314	4,000	SH		SOLE	0	4,000	0	0
NICE Systems ADR	ADR	653656108	6,584	23,179	SH		SOLE	0	22,320	0	859
Nike, Class B	Common Stock	654106103	21,145	135,816	SH		SOLE	0	110,276	0	25,540
Norfolk Southern	Common Stock	655844108	70,454	256,340	SH		SOLE	0	250,000	0	6,340
Novartis ADS	ADR	66987V109	26,274	321,278	SH		SOLE	0	297,800	0	23,478
Novo Nordisk ADS	ADR	670100205	110,272	1,071,093	SH		SOLE	0	1,049,745	0	21,348
NVIDIA	Common Stock	67066G104	2,568	12,404	SH		SOLE	0	12,300	0	104
NXP Semiconductors	Common Stock	N6596X109	1,388	7,085	SH		SOLE	0	2,750	0	4,335
OpenText	Common Stock	683715106	3,078	63,150	SH		SOLE	0	63,150	0	0
Oracle	Common Stock	68389X105	67,256	701,932	SH		SOLE	0	670,600	0	31,332
Orange ADR	ADR	684060106	217	20,000	SH		SOLE	0	20,000	0	0
Parker Hannifin	Common Stock	701094104	11,412	40,812	SH		SOLE	0	40,800	0	12
Paypal	Common Stock	70450Y103	2,126	8,170	SH		SOLE	0	6,600	0	1,570
PepsiCo	Common Stock	713448108	36,294	235,800	SH		SOLE	0	233,300	0	2,500
Pfizer	Common Stock	717081103	52,223	1,214,199	SH		SOLE	0	1,163,500	0	50,699
Pinterest	Common Stock	72352L106	413	8,100	SH		SOLE	0	0	0	8,100
PNC Financial Services Group	Common Stock	693475105	1,399	7,150	SH		SOLE	0	7,150	0	0
PPG Industries	Common Stock	693506107	54,989	384,513	SH		SOLE	0	379,000	0	5,513
Procter & Gamble	Common Stock	742718109	12,108	86,611	SH		SOLE	0	81,150	0	5,461
Public Storage International	Common Stock	74460D109	1,057	3,559	SH		SOLE	0	0	0	3,559
Qualcomm	Common Stock	747525103	111,024	853,657	SH		SOLE	0	825,200	0	28,457
Raymond James Financial	Common Stock	754730109	771	8,352	SH		SOLE	0	0	0	8,352
Rio Tinto ADS	ADR	767204100	3,756	56,210	SH		SOLE	0	51,800	0	4,410
Rockwell Automation	Common Stock	773903109	88,212	300,000	SH		SOLE	0	300,000	0	0
Roper Technologies	Common Stock	776696106	758	1,700	SH		SOLE	0	0	0	1,700
Ross Stores	Common Stock	778296103	1,367	12,555	SH		SOLE	0	1,750	0	10,805
Royal Dutch Shell ADR, Class A	ADR	780259206	443	9,949	SH		SOLE	0	8,900	0	1,049
RPM International	Common Stock	749685103	1,506	19,400	SH		SOLE	0	19,400	0	0
SailPoint Technologies Holdings	Common Stock	78781P105	386	9,000	SH		SOLE	0	0	0	9,000
Salesforce.com	Common Stock	79466L302	619	2,283	SH		SOLE	0	0	0	2,283
SAP ADS	ADR	803054204	26,622	183,463	SH		SOLE	0	183,450	0	13
SENSEONICS HLDGS INC COM	Common Stock	81727U105	298	88,000	SH		SOLE	0	0	0	88,000
Shopify INC CLA	Common Stock	82509L107	203	150	SH		SOLE	0	0	0	150
SK Telecom ADR	ADR	78440P108	301	10,000	SH		SOLE	0	10,000	0	0
Sony ADS	ADR	835699307	3,538	31,995	SH		SOLE	0	30,900	0	1,095
Stanley Black & Decker	Common Stock	854502101	15,123	86,264	SH		SOLE	0	81,634	0	4,630
Starbucks	Common Stock	855244109	2,229	20,207	SH		SOLE	0	17,887	0	2,320
STMicroelectronics (NY shares)	ADR	861012102	2,774	63,590	SH		SOLE	0	7,800	0	55,790
Stryker	Common Stock	863667101	82,654	315,315	SH		SOLE	0	305,000	0	10,315
Taiwan Semiconductor ADS	ADR	874039100	240,040	2,109,530	SH		SOLE	0	2,071,621	0	37,909
Take-Two Interactive Software	Common Stock	874054109	1,808	11,735	SH		SOLE	0	8,250	0	3,485
TE Connectivity	Common Stock	H84989104	2,975	21,680	SH		SOLE	0	14,200	0	7,480
Telekomunikasi Indonesia ADS	ADR	715684106	2,220	87,400	SH		SOLE	0	67,000	0	20,400
Telus	Common Stock	87971M103	2,064	94,000	SH		SOLE	0	86,000	0	8,000
Texas Instruments	Common Stock	882508104	50,944	264,850	SH		SOLE	0	256,600	0	8,250
TJX Companies	Common Stock	872540109	78,724	1,216,508	SH		SOLE	0	1,168,278	0	48,230
Toronto-Dominion Bank	Common Stock	891160509	430	6,500	SH		SOLE	0	0	0	6,500
TPI Composites, Inc.	Common Stock	87266J104	1,954	57,900	SH		SOLE	0	46,000	0	11,900
Tractor Supply	Common Stock	892356106	537	2,650	SH		SOLE	0	2,500	0	150
Trimble	Common Stock	896239100	132,814	1,560,965	SH		SOLE	0	1,512,000	0	48,965
Tyler Technologies	Common Stock	902252105	871	1,900	SH		SOLE	0	0	0	1,900
U.S. PHYSICAL THERAPY INC. - O	Common Stock	90337L108	553	5,000	SH		SOLE	0	0	0	5,000
Unilever ADS	ADR	904767704	26,552	489,709	SH		SOLE	0	452,800	0	36,909
Union Pacific	Common Stock	907818108	69,029	306,375	SH		SOLE	0	300,000	0	6,375
United Parcel Service, Class B	Common Stock	911312106	2,140	11,752	SH		SOLE	0	0	0	11,752
UnitedHealth Group	Common Stock	91324P102	469	1,200	SH		SOLE	0	300	0	900
Unity Biotechnology	Common Stock	91381U101	90	30,000	SH		SOLE	0	0	0	30,000
VF	Common Stock	918204108	2,158	32,210	SH		SOLE	0	23,800	0	8,410
Virtu Financial	Common Stock	928254101	672	27,500	SH		SOLE	0	27,500	0	0
Visa	Common Stock	92826C839	225	1,008	SH		SOLE	0	900	0	108
W.W. Grainger	Common Stock	384802104	32,074	81,600	SH		SOLE	0	80,000	0	1,600
Walt Disney Company	Common Stock	254687106	538	3,178	SH		SOLE	0	2,600	0	578
Xilinx	Common Stock	983919101	66,790	392,081	SH		SOLE	0	391,200	0	881
Zoura INC CL A	Common Stock	98983V106	284	17,100	SH		SOLE	0	0	0	17,100
Zscaler	Common Stock	98980G102	288	1,100	SH		SOLE	0	0	0	1,100
Zumiez	Common Stock	989817101	239	6,000	SH		SOLE	0	0	0	6,000
Zynga Inc CL A	Common Stock	98986T108	595	79,000	SH		SOLE	0	0	0	79,000