Schedule
of
Investments
As
of
August
31,
2023
Amana
Income
Fund
August
31,
2023
Part
F
1
Continued
on
next
page.
Common
Stock
-
91.4%
Number
of
Shares
Market
Value
Percentage
of
Net
Assets
Consumer
Discretionary
Automotive
Retailers
Genuine
Parts
382,000
$
58,724,860
3.5%
Consumer
Staples
Household
Products
Colgate-Palmolive
415,400
30,519,438
1.8%
Kenvue
251,912
5,806,572
0.4%
Kimberly-Clark
230,000
29,630,900
1.8%
Procter
&
Gamble
165,000
25,466,100
1.5%
Unilever
ADR
450,000
22,959,000
1.4%
114,382,010
6.9%
Packaged
Food
McCormick
&
Co
559,288
45,906,359
2.7%
160,288,369
9.6%
Health
Care
Biotech
Amgen
141,000
36,143,940
2.2%
Large
Pharma
AbbVie
100,000
14,696,000
0.9%
Bristol-Myers
Squibb
650,000
40,072,500
2.4%
Eli
Lilly
400,000
221,680,000
13.1%
Johnson
&
Johnson
103,638
16,756,192
1.0%
Novartis
ADR
295,400
29,681,792
1.7%
Pfizer
1,100,000
38,918,000
2.3%
361,804,484
21.4%
Medical
Devices
Abbott
Laboratories
350,000
36,015,000
2.1%
433,963,424
25.7%
Industrials
Commercial
&
Residential
Building
Equipment
&
Systems
Honeywell
International
260,000
48,864,400
2.9%
Johnson
Controls
International
510,000
30,120,600
1.8%
78,985,000
4.7%
Courier
Services
United
Parcel
Service,
Class
B
190,000
32,186,000
1.9%
Electrical
Power
Equipment
Eaton
100,000
23,037,000
1.4%
Industrial
Distribution
&
Rental
W.W.
Grainger
80,000
57,131,200
3.4%
Industrial
Machinery
Illinois
Tool
Works
300,000
74,205,000
4.4%
Measurement
Instruments
Rockwell
Automation
300,000
93,624,000
5.5%
Rail
Freight
Canadian
National
Railway
384,000
43,242,240
2.6%
402,410,440
23.9%
Materials
Basic
&
Diversified
Chemicals
Air
Products
&
Chemicals
110,000
32,503,900
1.9%
Schedule
of
Investments
As
of
August
31,
2023
Amana
Income
Fund
2
August
31,
2023
Part
F
Common
Stock
-
91.4%
Number
of
Shares
Market
Value
Percentage
of
Net
Assets
Materials
(continued)
Basic
&
Diversified
Chemicals
(continued)
Linde
130,000
$
50,315,200
3.0%
82,819,100
4.9%
Specialty
Chemicals
3M
235,000
25,067,450
1.5%
PPG
Industries
379,000
53,727,040
3.2%
78,794,490
4.7%
161,613,590
9.6%
Technology
Communications
Equipment
Cisco
Systems
680,000
38,998,000
2.3%
Consumer
Electronics
Nintendo
750,000
32,137,787
1.9%
Infrastructure
Software
Microsoft
400,000
131,104,000
7.8%
Semiconductor
Devices
Texas
Instruments
250,000
42,015,000
2.5%
Semiconductor
Manufacturing
Taiwan
Semiconductor
ADR
824,500
77,148,465
4.6%
321,403,252
19.1%
Total
investments
(Cost
$523,677,268)
$1,538,403,935
91.4%
Other
assets
(net
of
liabilities)
144,894,379
8.6%
Total
net
assets
$1,683,298,314
100.0%
ADR:
American
Depositary
Receipt
Schedule
of
Investments
As
of
August
31,
2023
Amana
Growth
Fund
August
31,
2023
Part
F
3
Continued
on
next
page.
Common
Stock
-
97.1%
Number
of
Shares
Market
Value
Percentage
of
Net
Assets
Communications
Internet
Media
Alphabet,
Class
A
1
1,076,000
$
146,518,920
3.5%
Consumer
Discretionary
Automotive
Retailers
AutoZone
40,000
101,253,200
2.4%
Home
Products
Stores
Lowe's
400,000
92,192,000
2.2%
Specialty
Apparel
Stores
Lululemon
Athletica
1
205,000
78,158,300
1.9%
TJX
Companies
1,150,000
106,352,000
2.5%
184,510,300
4.4%
377,955,500
9.0%
Consumer
Staples
Household
Products
Church
&
Dwight
1,171,300
113,346,701
2.7%
Estee
Lauder,
Class
A
458,594
73,618,095
1.8%
186,964,796
4.5%
Health
Care
Biotech
Amgen
336,425
86,239,184
2.1%
Large
Pharma
AstraZeneca
ADR
1,020,000
69,176,400
1.7%
Eli
Lilly
348,700
193,249,540
4.6%
Johnson
&
Johnson
379,750
61,397,980
1.5%
Merck
&
Co
640,000
69,747,200
1.7%
Novo
Nordisk
ADR
1,001,600
185,916,992
4.4%
579,488,112
13.9%
Life
Science
Equipment
Agilent
Technologies
900,000
108,963,000
2.6%
IDEXX
Laboratories
83,000
42,447,030
1.0%
151,410,030
3.6%
Managed
Care
Elevance
Health
182,000
80,445,820
1.9%
Medical
Devices
Stryker
300,000
85,065,000
2.0%
982,648,146
23.5%
Industrials
Commercial
&
Residential
Building
Equipment
&
Systems
Johnson
Controls
International
1,244,000
73,470,640
1.7%
Trane
400,000
82,104,000
2.0%
155,574,640
3.7%
Industrial
Distribution
&
Rental
Fastenal
565,700
32,573,006
0.8%
Measurement
Instruments
Keysight
Technologies
1
500,000
66,650,000
1.6%
Schedule
of
Investments
As
of
August
31,
2023
Amana
Growth
Fund
4
August
31,
2023
Part
F
Common
Stock
-
97.1%
Number
of
Shares
Market
Value
Percentage
of
Net
Assets
Industrials
(continued)
Measurement
Instruments
(continued)
Trimble
1
1,500,000
$
82,185,000
1.9%
148,835,000
3.5%
Metalworking
Machinery
Lincoln
Electric
Holdings
288,075
55,442,915
1.3%
Rail
Freight
Norfolk
Southern
230,725
47,300,932
1.1%
Union
Pacific
350,000
77,199,500
1.9%
124,500,432
3.0%
516,925,993
12.3%
Materials
Agricultural
Chemicals
Corteva
1,280,000
64,652,800
1.5%
Technology
Application
Software
Adobe
1
320,600
179,324,404
4.3%
Intuit
285,600
154,740,936
3.7%
334,065,340
8.0%
Communications
Equipment
Apple
1,989,550
373,776,759
8.9%
Cisco
Systems
1,500,000
86,025,000
2.1%
Motorola
Solutions
310,000
87,906,700
2.1%
547,708,459
13.1%
Information
Services
Gartner
1
179,900
62,907,432
1.5%
Infrastructure
Software
Microsoft
550,000
180,268,000
4.3%
Oracle
737,200
88,751,508
2.2%
ServiceNow
150,000
88,324,500
2.1%
357,344,008
8.6%
Semiconductor
Devices
Advanced
Micro
Devices
1
1,200,000
126,864,000
3.0%
Broadcom
Ltd
45,000
41,530,050
1.0%
168,394,050
4.0%
Semiconductor
Manufacturing
ASML
Holding
NY
308,000
203,443,240
4.9%
Taiwan
Semiconductor
ADR
1,210,921
113,305,878
2.7%
316,749,118
7.6%
1,787,168,407
42.8%
Total
investments
(Cost
$1,500,183,544)
$4,062,834,562
97.1%
Other
assets
(net
of
liabilities)
120,474,855
2.9%
Total
net
assets
$4,183,309,417
100.0%
1
Non-income
producing
ADR:
American
Depositary
Receipt
Schedule
of
Investments
As
of
August
31,
2023
Amana
Developing
World
Fund
August
31,
2023
Part
F
5
Continued
on
next
page.
Common
Stock
-
82.8%
Number
of
Shares
Market
Value
Country
1
Percentage
of
Net
Assets
Communications
Telecom
Carriers
Saudi
Telecom
230,000
$
2,440,620
Saudi
Arabia
2.4%
Telekomunikasi
Indonesia
ADR
83,000
2,014,410
Indonesia
2.0%
4,455,030
4.4%
Consumer
Discretionary
Apparel,
Footwear
&
Accessory
Design
VF
26,000
513,760
United
States
0.5%
Automobiles
Ford
Otomotiv
Sanayi
90,000
2,910,678
Turkey
2.9%
Home
Products
Stores
Wilcon
Depot
4,200,000
1,646,064
Philippines
1.6%
5,070,502
5.0%
Consumer
Staples
Food
&
Drug
Stores
Clicks
Group
160,000
2,310,314
South
Africa
2.2%
Household
Products
Colgate-Palmolive
33,000
2,424,510
United
States
2.4%
Dabur
India
330,000
2,202,811
India
2.2%
Kimberly-Clark
de
Mexico,
Class
A
1,100,000
2,477,346
Mexico
2.4%
LG
Household
&
Health
Care
4,500
1,579,124
South
Korea
1.5%
Unicharm
69,500
2,770,895
Japan
2.7%
Unilever
ADR
53,000
2,704,060
United
Kingdom
2.6%
14,158,746
13.8%
Packaged
Food
Indofood
CBP
Sukses
Makmur
2,500,000
1,838,708
Indonesia
1.8%
18,307,768
17.8%
Financials
Islamic
Banking
BIMB
Holdings
1,476,100
665,138
Malaysia
0.6%
Islamic
Insurance
Carriers
Syarikat
Takaful
Malaysia
Keluarga
599,981
480,670
Malaysia
0.5%
Real
Estate
Owners
&
Developers
SM
Prime
Holdings
2,800,000
1,443,795
Philippines
1.4%
2,589,603
2.5%
Health
Care
Generic
Pharma
Hikma
Pharmaceuticals
109,000
3,011,766
Jordan
2.9%
Health
Care
Facilities
Bangkok
Dusit
Medical
Services
NVDR
2,800,000
2,238,161
Thailand
2.2%
IHH
Healthcare
1,550,000
1,980,456
Malaysia
1.9%
KPJ
Healthcare
3,600,992
901,472
Malaysia
0.9%
5,120,089
5.0%
Health
Care
Services
Fleury
498,750
1,481,530
Brazil
1.5%
9,613,385
9.4%
Schedule
of
Investments
As
of
August
31,
2023
Amana
Developing
World
Fund
6
August
31,
2023
Part
F
Continued
on
next
page.
Common
Stock
-
82.8%
Number
of
Shares
Market
Value
Country
1
Percentage
of
Net
Assets
Industrials
Rubber
&
Plastic
Hartalega
Holdings
2,000,000
$
842,360
Malaysia
0.8%
Waste
Management
Sunny
Friend
Environmental
Technology
247,376
892,598
Taiwan
0.9%
1,734,958
1.7%
Materials
Agricultural
Chemicals
Quimica
y
Minera
Chile
ADR
33,000
2,065,470
Chile
2.0%
Base
Metals
Southern
Copper
34,000
2,742,440
Peru
2.7%
Cement
&
Aggregates
UltraTech
Cement
24,500
2,454,534
India
2.4%
Precious
Metal
Mining
Barrick
Gold
131,740
2,135,505
Canada
2.1%
Steel
Raw
Material
Suppliers
Rio
Tinto
ADR
37,500
2,343,750
China
2
2.3%
11,741,699
11.5%
Technology
Communications
Equipment
Samsung
Electronics
54,000
2,731,117
South
Korea
2.7%
Sercomm
600,000
2,280,052
Taiwan
2.2%
5,011,169
4.9%
Computer
Hardware
&
Storage
Advantech
217,931
2,345,229
Taiwan
2.3%
Electronics
Components
Delta
Electronics
260,000
2,809,794
China
2
2.7%
KCE
Electronics
NVDR
1,500,000
2,181,470
Thailand
2.1%
Samsung
SDI
5,400
2,504,528
South
Korea
2.5%
7,495,792
7.3%
EMS/ODM
Jabil
21,000
2,402,820
United
States
2.4%
IT
Services
Infosys
ADR
135,000
2,344,950
India
2.3%
Semiconductor
Devices
NVIDIA
9,000
4,441,950
United
States
4.3%
Qualcomm
21,000
2,405,130
China
2
2.4%
6,847,080
6.7%
Semiconductor
Manufacturing
ASML
Holding
NY
3,900
2,576,067
Netherlands
2.5%
Taiwan
Semiconductor
ADR
23,500
2,198,895
Taiwan
2.1%
4,774,962
4.6%
31,222,002
30.5%
Total
investments
(Cost
$82,483,380)
$84,734,947
82.8%
Other
assets
(net
of
liabilities)
17,541,970
17.2%
Total
net
assets
$102,276,917
100.0%
1
Country
of
domicile
unless
otherwise
indicated
Schedule
of
Investments
As
of
August
31,
2023
Amana
Developing
World
Fund
August
31,
2023
Part
F
7
2
Denotes
a
country
or
region
of
primary
exposure
ADR:
American
Depositary
Receipt
NVDR:
Non
Voting
Depository
Receipt
Consolidated
Schedule
of
Investments
As
of
August
31,
2023
Amana
Participation
Fund
8
August
31,
2023
Part
F
Continued
on
next
page.
Corporate
Sukuk
-
69.0%
Coupon
/
Maturity
Face
Amount
Market
Value
Country
1
Percentage
of
Net
Assets
Communications
Saudi
Telecom
2
3.890%
due
05/13/2029
$
8,450,000
$
7,996,327
Saudi
Arabia
3.7%
Consumer
Discretionary
Almarai
2
4.311%
due
03/05/2024
2,580,000
2,551,290
Saudi
Arabia
1.2%
Energy
SA
Global
2
2.694%
due
06/17/2031
8,000,000
6,797,984
Saudi
Arabia
3.2%
Financials
Investment
Corporate
of
Dubai
2
5.000%
due
02/01/2027
9,850,000
9,800,750
United
Arab
Emirates
4.6%
Kuwait
Financial
Bank
Tier
1
2,3
3.600%
due
PERP
10,000,000
9,111,480
Kuwait
4.3%
Dubai
Islamic
Bank
2
5.493%
due
11/30/2027
9,000,000
9,086,688
United
Arab
Emirates
4.2%
Riyad
2
3.174%
due
02/25/2030
9,030,000
8,650,740
Saudi
Arabia
4.0%
EMAAR
2
3.700%
due
07/06/2031
9,000,000
8,134,380
United
Arab
Emirates
3.8%
Majid
Al
Futtaim
2
4.638%
due
05/14/2029
5,650,000
5,487,664
United
Arab
Emirates
2.6%
TNB
Global
Ventures
2
4.851%
due
11/01/2028
5,300,000
5,200,033
Malaysia
2.4%
National
Commercial
Bank
Tier
1
2,3
3.500%
due
PERP
5,550,000
5,137,069
Saudi
Arabia
2.4%
Sharjah
Islamic
Bank
Tier
1
2,3
5.000%
due
PERP
5,000,000
4,841,400
United
Arab
Emirates
2.3%
Aldar
2
3.875%
due
10/22/2029
5,000,000
4,609,660
United
Arab
Emirates
2.2%
Majid
Al
Futtaim
2
4.500%
due
11/03/2025
4,600,000
4,500,612
United
Arab
Emirates
2.1%
Mas
Al
Ryan
2
2.210%
due
09/02/2025
4,500,000
4,222,125
Cayman
Islands
2.0%
Islamic
Development
Bank
Trust
Services
2
4.747%
due
10/27/2027
2,500,000
2,504,000
Saudi
Arabia
1.2%
Dubai
Islamic
Bank
Tier
1
2,3
6.250%
due
PERP
2,000,000
1,998,728
United
Arab
Emirates
0.9%
83,285,329
39.0%
Industrials
DP
World
Salaam
2,3
6.000%
due
PERP
7,800,000
7,752,295
United
Arab
Emirates
3.6%
DP
World
Crescent
2
3.750%
due
01/30/2030
4,000,000
3,682,619
United
Arab
Emirates
1.7%
11,434,914
5.3%
Technology
Axiata
SPV2
2
2.163%
due
08/19/2030
6,000,000
4,965,833
Malaysia
2.3%
Axiata
SPV2
2
4.357%
due
03/24/2026
4,357,000
4,228,226
Malaysia
2.0%
9,194,059
4.3%
Utilities
TNB
Global
Ventures
Cap
2
3.244%
due
10/19/2026
9,140,000
8,548,595
Malaysia
4.0%
Tabreed
2
5.500%
due
10/31/2025
6,950,000
6,906,562
United
Arab
Emirates
3.2%
Saudi
Electricity
Global
2
5.060%
due
04/08/2043
7,000,000
6,562,500
Saudi
Arabia
3.1%
Saudi
Electricity
Global
2
5.500%
due
04/08/2044
2,400,000
2,325,000
Saudi
Arabia
1.1%
Saudi
Electricity
Global
2
5.684%
due
04/11/2053
2,000,000
1,915,000
Saudi
Arabia
0.9%
26,257,657
12.3%
Total
Corporate
Sukuk
(Cost
$
155,657,000)
$147,517,560
69.0%
Government
Sukuk
-
21.5%
Coupon
/
Maturity
Face
Amount
Market
Value
Country
1
Percentage
of
Net
Assets
Foreign
Government
Sukuk
Dubai
Aerospace
Enterprises
DIFC
2
3.750%
due
02/15/2026
7,700,000
7,238,693
United
Arab
Emirates
3.4%
Kingdom
of
Saudi
Arabia
2
3.628%
due
04/20/2027
7,500,000
7,145,160
Saudi
Arabia
3.3%
Malaysia
Sovereign
Sukuk
2
4.236%
due
04/22/2045
7,500,000
6,834,953
Malaysia
3.2%
Perusahaan
Penerbit
SBSN
2
4.550%
due
03/29/2026
6,185,000
6,080,171
Indonesia
2.8%
Perusahaan
Penerbit
SBSN
2
3.550%
due
06/09/2051
6,280,000
4,644,512
Indonesia
2.2%
International
Islamic
Liquidity
Management
2
5.600%
due
09/07/2023
4,200,000
4,200,742
Luxembourg
2.0%
Consolidated
Schedule
of
Investments
As
of
August
31,
2023
Amana
Participation
Fund
August
31,
2023
Part
F
9
Government
Sukuk
-
21.5%
Coupon
/
Maturity
Face
Amount
Market
Value
Country
1
Percentage
of
Net
Assets
Foreign
Government
Sukuk
(continued)
Ras
Al
Khaimah
2
3.094%
due
03/31/2025
$
3,950,000
$
3,787,355
United
Arab
Emirates
1.8%
Kingdom
of
Saudi
Arabia
2
4.303%
due
01/19/2029
3,200,000
3,105,939
Saudi
Arabia
1.4%
Perusahaan
Penerbit
SBSN
2
4.450%
due
02/20/2029
3,050,000
2,961,314
Indonesia
1.4%
Total
Government
Sukuk
(Cost
$
49,565,000)
$45,998,839
21.5%
Bank
Time
Deposits
-
1.4%
Coupon
/
Maturity
Face
Amount
Market
Value
Country
1
Percentage
of
Net
Assets
Bank
Time
Deposits
Arab
Banking
Corp,
NY
Branch
5.380%
due
09/06/2023
3,000,000
3,000,000
United
States
1.4%
Total
Bank
Time
Deposits
(Cost
3,000,000)
$3,000,000
1.4%
Total
investments
(Cost
$206,494,522)
$196,516,399
91.9%
Other
assets
(net
of
liabilities)
17,220,422
8.1%
Total
net
assets
$213,736,822
100.0%
1
Denotes
a
country
or
region
of
primary
exposure
2
Security
was
purchased
pursuant
to
Regulation
S
under
the
Securities
Act
of
1933
which
exempts
from
registration
securities
offered
and
sold
outside
of
the
United
States.
Such
a
security
cannot
be
sold
in
the
United
States
without
either
an
effective
registration
statement
filed
pursuant
to
the
Securities
Act
of
1933,
or
pursuant
to
an
exemption
from
registration.
These
Securities
have
been
deemed
liquid
under
guidelines
approved
by
the
Trust's
Board
of
Trustees.
At
August
31,
2023,
the
aggregate
value
of
these
securities
was
$193,516,399
representing
90.5%
of
total
net
assets.
3
Security
is
perpetual
in
nature
with
no
stated
maturity
date.
Notes
To
Financial
Statements
10
August
31,
2023
Part
F
Note
1
–
Organization
Amana
Mutual
Funds
Trust
(the
“Trust”)
was
organized
as
a
Delaware
Statutory
Trust
on
March
11,
2013,
and
is
the
successor
to
Amana
Mutual
Funds
Trust,
an
Indiana
Business
Trust
organized
on
July
26,
1984,
pursuant
to
a
reorganization
on
July
19,
2013.
Note
2
–
Significant
Accounting
Policies
Security
valuation:
Investments
in
securities
traded
on
a
national
securities
exchange
and
over-the-counter
securities
for
which
sale
prices
are
available
are
valued
at
that
price.
Securities
for
which
there
are
no
sales
are
valued
at
latest
bid
price.
Foreign
markets
may
close
before
the
time
as
of
which
the
Funds’
share
prices
are
determined.
Because
of
this,
events
occurring
after
the
close
and
before
the
determination
of
the
Funds’
share
prices
may
have
a
material
effect
on
the
values
of
some
or
all
of
the
Funds’
foreign
securities.
To
account
for
this,
the
Funds
may
use
outside
pricing
services
for
valuation
of
their
non-US
securities.
In
cases
in
which
there
is
not
a
readily
available
market
price,
a
fair
value
for
such
security
is
determined
in
good
faith
by
the
Adviser,
whom
the
Board
of
Trustees
has
designated
as
the
Funds’
valuation
designee
to
perform
fair
value
determinations
relating
to
all
Fund
investments.
Security
transactions
are
recorded
on
trade
date.
Realized
gains
and
losses
on
sales
of
securities
are
recorded
on
the
identified
cost
basis.
Sukuk
certificates
in
which
the
Participation
Fund
invests
are
valued
based
on
evaluated
prices
supplied
by
an
independent
pricing
service,
which
include
valuations
provided
by
market
makers
and
other
participants,
provided
that
there
is
sufficient
market
activity
on
which
the
pricing
service
can
base
such
valuations.
Where
market
activity
is
insufficient
for
making
such
determinations,
the
independent
pricing
service
uses
proprietary
valuation
methodologies
and
may
consider
a
variety
of
factors,
such
as
yield
curves,
credit
spreads,
estimated
default
rates,
anticipated
market
interest
rate
volatility,
coupon
rates,
and
other
factors
in
order
to
calculate
the
security’s
fair
value.
Bank
time
deposits
are
accounted
for
on
cost
basis,
which
approximates
market
value.
Bank
time
deposits
will
be
categorized
as
Fair
Value
Level
2.
Fair
Value
Measurements
Disclosure:
Accounting
Standards
Codification
(ASC)
820
establishes
a
three-
tier
framework
for
measuring
fair
value
based
on
a
hierarchy
of
inputs.
The
hierarchy
distinguishes
between
market
data
obtained
from
independent
sources
(observable
inputs)
and
the
Funds’
own
market
assumptions
(unobservable
inputs).
These
inputs
are
used
in
determining
the
value
of
the
Funds’
investments
and
are
summarized
below.
Level
1
−
Unadjusted
quoted
prices
in
active
markets
for
identical
assets
or
liabilities
that
the
Trust
has
the
ability
to
access.
Level
2
−
Observable
inputs
other
than
quoted
prices
in
Level
1
that
are
observable
for
the
asset
or
liability,
either
directly
or
indirectly.
These
inputs
may
include
quoted
prices
for
the
identical
instrument
on
an
inactive
market,
prices
for
similar
instruments,
interest
rates,
prepayment
speeds,
credit
risk,
yield
curves,
default
rates,
and
similar
data.
Level
3
−
Unobservable
inputs
for
the
asset
or
liability,
to
the
extent
relevant
observable
inputs
are
not
available,
representing
the
Trust’s
own
assumptions
about
the
assumptions
a
market
participant
would
use
in
valuing
the
asset
or
liability,
and
would
be
based
on
the
best
information
available.
The
availability
of
observable
inputs
can
vary
from
security
to
security
and
is
affected
by
a
wide
variety
of
factors,
including,
for
example,
the
type
of
security,
whether
the
security
is
new
and
not
yet
established
in
the
marketplace,
the
liquidity
of
markets,
and
other
characteristics
particular
to
the
security.
To
the
extent
that
valuation
is
based
on
models
or
inputs
that
are
less
observable
or
unobservable
in
the
market,
the
determination
of
fair
value
requires
more
judgment.
Accordingly,
the
degree
of
judgment
exercised
in
determining
fair
value
is
greatest
for
instruments
categorized
in
Level
3.
The
inputs
used
to
measure
fair
value
may
fall
into
different
levels
of
the
fair
value
hierarchy.
In
such
cases,
for
disclosure
purposes,
the
level
in
the
fair
value
hierarchy
within
which
the
fair
value
measurement
falls
in
its
entirety,
is
determined
based
on
the
lowest
level
input
that
is
significant
to
the
fair
value
measurement
in
its
entirety.
The
inputs
or
methodology
used
for
valuing
securities
are
not
necessarily
an
indication
of
the
risk
associated
with
investing
in
those
securities.
The
following
is
a
summary
of
the
inputs
used
as
of
August
31,
2023
,
in
valuing
the
Funds’
investments
carried
at
fair
value:
Share
Valuation
Inputs
as
of
August
31,
2023
Level
1
Level
2
Level
3
Funds
Quoted
Price
Significant
Observable
Input
Significant
Unobservable
Input
Total
Income
Fund
Common
Stock
Consumer
Discretionary
$58,724,860
$–
$–
$58,724,860
Consumer
Staples
$160,288,369
$–
$–
$160,288,369
Health
Care
$433,963,424
$–
$–
$433,963,424
Industrials
$402,410,440
$–
$–
$402,410,440
Materials
$161,613,590
$–
$–
$161,613,590
Technology
$289,265,465
$32,137,787
$–
$321,403,252
Total
Common
Stock
$1,506,266,148
$32,137,787
$–
$1,538,403,935
Total
Assets
$1,506,266,148
$32,137,787
$–
$1,538,403,935
Notes
To
Financial
Statements
(continued)
August
31,
2023
Part
F
11
Growth
Fund
Common
Stock
1
$4,062,834,562
$–
$–
$4,062,834,562
Total
Assets
$4,062,834,562
$–
$–
$4,062,834,562
Developing
World
Fund
Common
Stock
Communications
$2,014,410
$2,440,620
$–
$4,455,030
Consumer
Discretionary
$513,760
$4,556,742
$–
$5,070,502
Consumer
Staples
$5,128,570
$13,179,198
$–
$18,307,768
Financials
$–
$2,589,603
$–
$2,589,603
Health
Care
$–
$9,613,385
$–
$9,613,385
Industrials
$–
$1,734,958
$–
$1,734,958
Materials
$9,287,165
$2,454,534
$–
$11,741,699
Technology
$16,369,812
$14,852,190
$–
$31,222,002
Total
Common
Stock
$33,313,717
$51,421,230
$–
$84,734,947
Total
Assets
$33,313,717
$51,421,230
$–
$84,734,947
Participation
Fund
Bank
Time
Deposits
1
$–
$3,000,000
$–
$3,000,000
Corporate
Sukuk
1
$–
$147,517,560
$–
$147,517,560
Government
Sukuk
1
$–
$45,998,839
$–
$45,998,839
Total
Assets
$–
$196,516,399
$–
$196,516,399
1
See
the
Schedule
of
Investments
for
additional
details.
Note
2
–
Significant
Accounting
Policies
(continued)