Saturna Investment Trust, Sextant Short-Term Bond Fund
Corporate Bonds – 71.4% | Coupon / Maturity | Face Amount | Market Value | Percentage of Assets | ||||||||||
Consumer Discretionary
| ||||||||||||||
Apple | 1.80% due 09/11/2024 | $ 150,000 | $ 157,578 | 1.4% | ||||||||||
Autozone | 3.25% due 04/15/2025 | 300,000 | 330,894 | 2.9% | ||||||||||
488,472 | 4.3% | |||||||||||||
Consumer Staples
| ||||||||||||||
Church & Dwight | 2.875% due 10/01/2022 | 260,000 | 272,484 | 2.4% | ||||||||||
Costco Wholesale | 2.75% due 05/18/2024 | 385,000 | 416,534 | 3.7% | ||||||||||
Dollar General | 4.15% due 11/01/2025 | 300,000 | 346,841 | 3.1% | ||||||||||
Estee Lauder | 2.35% due 08/15/2022 | 350,000 | 362,542 | 3.2% | ||||||||||
McCormick & Co. | 2.70% due 08/15/2022 | 500,000 | 520,923 | 4.6% | ||||||||||
Walmart | 2.85% due 07/08/2024 | 100,000 | 108,739 | 0.9% | ||||||||||
2,028,063 | 17.9% | |||||||||||||
Financials
| ||||||||||||||
Paccar Financial | 2.05% due 11/13/2020 | 350,000 | 351,240 | 3.1% | ||||||||||
Paypal Holdings | 2.65% due 10/01/2026 | 300,000 | 328,735 | 2.9% | ||||||||||
VISA | 3.15% due 12/14/2025 | 300,000 | 337,283 | 3.0% | ||||||||||
1,017,258 | 9.0% | |||||||||||||
Health Care
| ||||||||||||||
Astrazeneca | 2.375% due 11/16/2020 | 155,000 | 155,675 | 1.4% | ||||||||||
Celgene | 2.25% due 08/15/2021 | 300,000 | 301,867 | 2.7% | ||||||||||
Gilead Sciences | 2.50% due 09/01/2023 | 400,000 | 422,466 | 3.7% | ||||||||||
Teva Pharmaceutical | 3.65% due 11/10/2021 | 350,000 | 351,033 | 3.1% | ||||||||||
1,231,041 | 10.9% | |||||||||||||
Industrials
| ||||||||||||||
Burlington Northern Santa Fe | 3.05% due 09/01/2022 | 400,000 | 418,448 | 3.7% | ||||||||||
Cintas Corp # 2 | 3.25% due 06/01/2022 | 350,000 | 364,506 | 3.2% | ||||||||||
CSX Corporation | 4.25% due 06/01/2021 | 350,000 | 356,824 | 3.1% | ||||||||||
1,139,778 | 10.0% |
Materials
| ||||||||||||||
3M | 2.00% due 06/26/2022 | 400,000 | 412,419 | 3.6% | ||||||||||
DuPont De Nemours | 4.493% due 11/15/2025 | 350,000 | 407,366 | 3.6% | ||||||||||
819,785 | 7.2% | |||||||||||||
Technology
| ||||||||||||||
Honeywell International | 4.25% due 03/01/2021 | 450,000 | 458,969 | 4.0% | ||||||||||
Microsoft | 2.375% due 05/01/2023 | 225,000 | 236,942 | 2.1% | ||||||||||
Qualcomm | 2.60% due 01/30/2023 | 400,000 | 420,287 | 3.7% | ||||||||||
1,116,198 | 9.8% | |||||||||||||
Utilities
| ||||||||||||||
PacifiCorp | 2.95% due 06/01/2023 | 250,000 | 265,960 | 2.3% | ||||||||||
265,960 | 2.3% | |||||||||||||
Total Corporate Bonds | $8,106,555 | 71.4% | ||||||||||||
Government Bonds – 24.3% | ||||||||||||||
United States Treasury Notes
| ||||||||||||||
United States Treasury Note | 2.625% due 05/15/2021 | 555,000 | 564,604 | 5.0% | ||||||||||
United States Treasury Note | 3.625% due 02/15/2021 | 800,000 | 812,750 | 7.2% | ||||||||||
United States Treasury Note | 2.50% due 08/15/2023 | 500,000 | 534,570 | 4.7% | ||||||||||
United States Treasury Note | 2.875% due 04/30/2025 | 750,000 | 841,436 | 7.4% | ||||||||||
Total Government Bonds | $ 2,753,360 | 24.3% | ||||||||||||
Total investments | (Cost is $10,518,658) | $ 10,859,915 | 95.7% | |||||||||||
Other assets (net of liabilities) | 489,256 | 4.3% | ||||||||||||
|
| |||||||||||||
Total net assets | $ 11,349,171 | 100.0% | ||||||||||||
Saturna Investment Trust, Sextant Bond Income Fund
Corporate Bonds – 56.5% | Coupon / Maturity | Face Amount | Market Value | Percentage of Assets | ||||||||||
Consumer Discretionary
| ||||||||||||||
Home Depot Inc | 5.875% due 12/16/2036 | $ | 200,000 | $ | 299,466 | 2.1 | % | |||||||
Lowe’s | 5.80% due 10/15/2036 | 250,000 | 334,469 | 2.4 | % | |||||||||
633,935 | 4.5 | % | ||||||||||||
Consumer Staples
| ||||||||||||||
Unilever Capital | 5.90% due 11/15/2032 | 200,000 | 295,689 | 2.1 | % | |||||||||
295,689 | 2.1 | % | ||||||||||||
Energy
| ||||||||||||||
Baker Hughes | 6.875% due 01/15/2029 | 100,000 | 131,037 | 1.0 | % | |||||||||
Canadian Natural Resources | 6.45% due 06/30/2033 | 225,000 | 284,314 | 2.0 | % | |||||||||
Statoil | 7.15% due 01/15/2029 | 224,000 | 311,207 | 2.2 | % | |||||||||
726,558 | 5.2 | % | ||||||||||||
Financials
| ||||||||||||||
Affiliated Managers Group | 3.50% due 08/01/2025 | 250,000 | 275,456 | 2.0 | % | |||||||||
Bank Of New York Mellon MTN | 3.30% due 08/23/2029 | 250,000 | 289,023 | 2.1 | % | |||||||||
UBS AG Stamford CT | 7.75% due 09/01/2026 | 200,000 | 258,937 | 1.8 | % | |||||||||
823,416 | 5.9 | % | ||||||||||||
Health Care
| ||||||||||||||
Becton Dickinson | 6.70% due 08/01/2028 | 240,000 | 303,363 | 2.2 | % | |||||||||
Johnson & Johnson | 4.95% due 05/15/2033 | 226,000 | 313,830 | 2.2 | % | |||||||||
Johnson & Johnson | 5.85% due 07/15/2038 | 50,000 | 77,302 | 0.6 | % | |||||||||
Medtronic Inc | 4.375% due 03/15/2035 | 260,000 | 343,534 | 2.5 | % | |||||||||
Merck & Co. | 6.50% due 12/01/2033 | 215,000 | 336,361 | 2.4 | % | |||||||||
Teva Pharmaceutical | 3.65% due 11/10/2021 | 250,000 | 250,738 | 1.8 | % | |||||||||
1,625,128 | 11.7 | % | ||||||||||||
Industrials
| ||||||||||||||
Burlington Northern Santa Fe | 5.05% due 03/01/2041 | 310,000 | 424,894 | 3.0 | % | |||||||||
Deere & Co. | 8.10% due 05/15/2030 | 95,000 | 144,514 | 1.1 | % | |||||||||
United Technologies | 6.05% due 06/01/2036 | 250,000 | 356,123 | 2.5 | % | |||||||||
925,531 | 6.6 | % | ||||||||||||
Materials
| ||||||||||||||
Praxair | 3.55% due 11/07/2042 | 350,000 | 417,758 | 3.0 | % | |||||||||
417,758 | 3.0 | % | ||||||||||||
Technology
| ||||||||||||||
Apple | 4.50% due 02/23/2036 | 350,000 | 464,892 | 3.3 | % | |||||||||
Intel | 4.00% due 12/15/2032 | 360,000 | 453,659 | 3.2 | % | |||||||||
Microsoft | 4.20% due 11/03/2035 | 350,000 | 461,347 | 3.3 | % | |||||||||
Microsoft | 5.30% due 02/08/2041 | 50,000 | 75,637 | 0.6 | % | |||||||||
1,455,535 | 10.4 | % |
Utilities
| ||||||||||||||
Alabama Power | 4.15% due 08/15/2044 | 200,000 | 246,911 | 1.8% | ||||||||||
Entergy Louisiana | 5.40% due 11/01/2024 | 200,000 | 237,573 | 1.7% | ||||||||||
Florida Power & Light | 5.95% due 10/01/2033 | 100,000 | 143,254 | 1.0% | ||||||||||
Puget Sound Energy | 4.434% due 11/15/2041 | 300,000 | 362,453 | 2.6% | ||||||||||
990,191 | 7.1% | |||||||||||||
Total Corporate Bonds | $7,893,741 | 56.5% | ||||||||||||
Government Bonds – 29.0% | ||||||||||||||
Foreign Government Bonds
| ||||||||||||||
Quebec Canada Yankee | 7.125% due 02/09/2024 | $ 175,000 | $ 213,714 | 1.5% | ||||||||||
United States Treasury Bonds
| ||||||||||||||
United States Treasury Bond | 5.25% due 02/15/2029 | 170,000 | 235,775 | 1.7% | ||||||||||
United States Treasury Bond | 6.25% due 05/15/2030 | 75,000 | 114,648 | 0.9% | ||||||||||
United States Treasury Bond | 3.125% due 11/15/2041 | 145,000 | 195,371 | 1.4% | ||||||||||
United States Treasury Bond | 3.375% due 11/15/2048 | 560,000 | 814,559 | 5.8% | ||||||||||
United States Treasury Bond | 6.125% due 08/15/2029 | 225,000 | 333,747 | 2.4% | ||||||||||
United States Treasury Bond | 5.375% due 02/15/2031 | 400,000 | 590,203 | 4.2% | ||||||||||
United States Treasury Bond | 4.25% due 05/15/2039 | 770,000 | 1,178,882 | 8.4% | ||||||||||
3,463,185 | 24.8% | |||||||||||||
United States Treasury Notes
| ||||||||||||||
United States Treasury Note | 3.625% due 02/15/2021 | 370,000 | 375,897 | 2.7% | ||||||||||
Total Government Bonds | $4,052,796 | 29.0% | ||||||||||||
Municipal Bonds – 3.0% | ||||||||||||||
Municipal Leases
| ||||||||||||||
Johnson Co KS Bldg Ls/Pr RevBAB | 4.60% due 09/01/2026 | 250,000 | 250,000 | 1.8% | ||||||||||
Oklahoma City Fin Auth Ed Lease Rev | 6.60% due 09/01/2022 | 160,000 | 176,214 | 1.2% | ||||||||||
Total Municipal Bonds | $ 426,214 | 3.0% | ||||||||||||
Total investments | (Cost is $10,876,950) | $12,372,751 | 88.5% | |||||||||||
Other assets (net of liabilities) | 1,603,703 | 11.5% | ||||||||||||
|
| |||||||||||||
Total net assets | $13,976,454 | 100.0% |
Saturna Investment Trust, Sextant Core Fund
Common Stocks – 65.6% | | Number of Shares | | | Market Value | | Country (1) | | Percentage of Assets | | ||||||
Communications
| ||||||||||||||||
Internet Media | ||||||||||||||||
Alphabet, Class A(2) | 200 | $325,906 | United States | 1.8% | ||||||||||||
Telecom Carriers | ||||||||||||||||
AT&T | 5,000 | 149,050 | United States | 0.8% | ||||||||||||
BCE | 4,000 | 172,040 | Canada | 0.9% | ||||||||||||
Verizon Communications | 3,300 | 195,591 | United States | 1.1% | ||||||||||||
516,681 | 2.8% | |||||||||||||||
842,587 | 4.6% | |||||||||||||||
Consumer Discretionary
| ||||||||||||||||
Apparel, Footwear & Accessory Design | ||||||||||||||||
VF | 4,000 | 263,000 | United States | 1.4% | ||||||||||||
Home Improvement | ||||||||||||||||
Stanley Black & Decker | 1,000 | 161,300 | United States | 0.9% | ||||||||||||
Home Products Stores | ||||||||||||||||
Home Depot | 600 | 171,024 | United States | 0.9% | ||||||||||||
Lowe’s | 1,400 | 230,566 | United States | 1.3% | ||||||||||||
401,590 | 2.2% | |||||||||||||||
Specialty Apparel Stores | ||||||||||||||||
Industria de Diseno Textil ADR | 12,000 | 169,200 | Spain | 0.9% | ||||||||||||
Ross Stores | 1,750 | 159,390 | United States | 0.9% | ||||||||||||
TJX Companies | 2,200 | 120,538 | United States | 0.7% | ||||||||||||
449,128 | 2.5% | |||||||||||||||
1,275,018 | 7.0% | |||||||||||||||
Consumer Staples
| ||||||||||||||||
Beverages | ||||||||||||||||
PepsiCo | 1,550 | 217,093 | United States | 1.2% | ||||||||||||
Household Products | ||||||||||||||||
Procter & Gamble | 1,150 | 159,080 | United States | 0.9% | ||||||||||||
Unilever ADR | 2,900 | 172,782 | United Kingdom | 0.9% | ||||||||||||
331,862 | 1.8% | |||||||||||||||
Packaged Food | ||||||||||||||||
McCormick & Co | 500 | 103,100 | United States | 0.5% | ||||||||||||
Nestle ADR | 1,900 | 228,769 | Switzerland | 1.3% | ||||||||||||
331,869 | 1.8% | |||||||||||||||
880,824 | 4.8% | |||||||||||||||
Energy
| ||||||||||||||||
Integrated Oils | ||||||||||||||||
Equinor ADR | 13,200 | 211,860 | Norway | 1.2% | ||||||||||||
211,860 | 1.2% | |||||||||||||||
Financials
| ||||||||||||||||
Banks | ||||||||||||||||
PNC Financial Services Group | 600 | 66,720 | United States | 0.4% |
Consumer Finance | ||||||||||||||||
Mastercard, Class A | 500 | 179,095 | United States | 1.0% | ||||||||||||
Visa | 900 | 190,791 | United States | 1.0% | ||||||||||||
369,886 | 2.0% | |||||||||||||||
Institutional Brokerage | ||||||||||||||||
Virtu Financial | 12,000 | 309,960 | United States | 1.7% | ||||||||||||
Investment Management | ||||||||||||||||
BlackRock | 400 | 237,676 | United States | 1.3% | ||||||||||||
P&C Insurance | ||||||||||||||||
Chubb | 1,700 | 212,500 | Switzerland | 1.2% | ||||||||||||
1,196,742 | 6.6% | |||||||||||||||
Health Care
| ||||||||||||||||
Biotech | ||||||||||||||||
Amgen | 1,100 | 278,652 | United States | 1.5% | ||||||||||||
CRISPR Therapeutics AG(2) | 700 | 65,422 | United States | 0.4% | ||||||||||||
344,074 | 1.9% | |||||||||||||||
Large Pharma | ||||||||||||||||
Bristol-Myers Squibb | 4,300 | 267,460 | United States | 1.5% | ||||||||||||
GlaxoSmithKline ADR | 5,000 | 198,000 | United Kingdom | 1.1% | ||||||||||||
Johnson & Johnson | 1,800 | 276,138 | United States | 1.5% | ||||||||||||
Novartis ADR | 2,300 | 197,938 | Switzerland | 1.1% | ||||||||||||
Novo Nordisk ADR | 2,450 | 161,798 | Denmark | 0.9% | ||||||||||||
Pfizer | 5,500 | 207,845 | United States | 1.1% | ||||||||||||
1,309,179 | 7.2% | |||||||||||||||
Medical Devices | ||||||||||||||||
Abbott Laboratories | 2,700 | 295,569 | United States | 1.6% | ||||||||||||
Medical Equipment | ||||||||||||||||
Koninklijke Philips | 3,877 | 184,119 | Netherlands | 1.0% | ||||||||||||
2,132,941 | 11.7% | |||||||||||||||
Industrials
| ||||||||||||||||
Aircraft & Parts | ||||||||||||||||
L3Harris Technologies | 800 | 144,592 | United States | 0.8% | ||||||||||||
Raytheon Technologies | 1,500 | 91,500 | United States | 0.5% | ||||||||||||
236,092 | 1.3% | |||||||||||||||
Commercial & Residential Building Equipment & Systems |
| |||||||||||||||
Honeywell International | 1,200 | 198,660 | United States | 1.1% | ||||||||||||
Johnson Controls International | 5,550 | 226,051 | United States | 1.2% | ||||||||||||
Otis Worldwide | 750 | 47,175 | United States | 0.3% | ||||||||||||
471,886 | 2.6% | |||||||||||||||
Flow Control Equipment | ||||||||||||||||
Parker Hannifin | 1,050 | 216,310 | United States | 1.2% | ||||||||||||
Industrial Distribution & Rental | ||||||||||||||||
Fastenal | 2,800 | 136,808 | United States | 0.8% | ||||||||||||
Rail Freight | ||||||||||||||||
Canadian National Railway | 2,000 | 209,160 | Canada | 1.1% | ||||||||||||
Kansas City Southern Industries | 1,200 | 218,448 | United States | 1.2% | ||||||||||||
427,608 | 2.3% | |||||||||||||||
1,488,704 | 8.2% |
Materials
| ||||||||||||||||
Basic & Diversified Chemicals | ||||||||||||||||
Linde | 1,000 | 249,740 | Ireland | 1.4% | ||||||||||||
Precious Metal Mining | ||||||||||||||||
Barrick Gold | 10,000 | 296,500 | Canada | 1.6% | ||||||||||||
Newmont Mining | 4,000 | 269,120 | United States | 1.5% | ||||||||||||
565,620 | 3.1% | |||||||||||||||
Specialty Chemicals | ||||||||||||||||
PPG Industries | 700 | 84,280 | United States | 0.4% | ||||||||||||
RPM International | 1,400 | 118,678 | United States | 0.7% | ||||||||||||
202,958 | 1.1% | |||||||||||||||
1,018,318 | 5.6% | |||||||||||||||
Technology
| ||||||||||||||||
Application Software | ||||||||||||||||
Open Text US | 3,900 | 176,982 | Canada | 1.0% | ||||||||||||
Communications Equipment | ||||||||||||||||
Apple | 2,400 | 309,696 | United States | 1.7% | ||||||||||||
Consumer Electronics | ||||||||||||||||
Nintendo ADR | 2,600 | 175,162 | United States | 1.0% | ||||||||||||
Infrastructure Software | ||||||||||||||||
Microsoft | 1,000 | 225,530 | United States | 1.2% | ||||||||||||
Oracle | 3,100 | 177,382 | United States | 1.0% | ||||||||||||
402,912 | 2.2% | |||||||||||||||
IT Services | ||||||||||||||||
Amdocs Limited | 3,000 | 183,690 | United States | 1.0% | ||||||||||||
Semiconductor Devices | ||||||||||||||||
Infineon Technologies ADR | 3,275 | 90,816 | Germany | 0.5% | ||||||||||||
Intel | 3,500 | 178,325 | United States | 1.0% | ||||||||||||
Microchip Technology | 600 | 65,820 | United States | 0.4% | ||||||||||||
Micron Technology(2) | 4,200 | 191,142 | United States | 1.0% | ||||||||||||
NXP Semiconductors | 600 | 75,456 | Netherlands | 0.4% | ||||||||||||
Qualcomm | 1,500 | 178,650 | United States | 1.0% | ||||||||||||
Xilinx | 1,600 | 166,656 | United States | 0.9% | ||||||||||||
946,865 | 5.2% | |||||||||||||||
2,195,307 | 12.1% | |||||||||||||||
Utilities
| ||||||||||||||||
Integrated Utilities | ||||||||||||||||
Dominion Energy | 2,800 | 219,632 | United States | 1.2% | ||||||||||||
Duke Energy | 2,600 | 208,884 | United States | 1.1% | ||||||||||||
NextEra Energy | 1,000 | 279,170 | United States | 1.5% | ||||||||||||
707,686 | 3.8% | |||||||||||||||
707,686 | 3.8% | |||||||||||||||
Total Common Stocks | 174,102 | 11,949,987 | 65.6% |
Corporate Bonds – 16.0% | Coupon/Maturity | | Face Amount |
| | Market Value |
| | Percentage of Assets | | ||||||
Communications
| ||||||||||||||||
Bellsouth Capital Funding | 7.875% due 02/15/2030 | $150,000 | $ 200,195 | 1.1% | ||||||||||||
200,195 | 1.1% | |||||||||||||||
Consumer Discretionary
| ||||||||||||||||
Lowe’s | 4.25% due 09/15/2044 | 250,000 | 296,772 | 1.6% | ||||||||||||
Stanford University | 4.013% due 05/01/2042 | 100,000 | 127,518 | 0.7% | ||||||||||||
424,290 | 2.3% | |||||||||||||||
Financials
| ||||||||||||||||
General Electric Capital | 5.35% due 04/15/2022 | 101,000 | 106,087 | 0.6% | ||||||||||||
Welltower | 4.25% due 04/15/2028 | 350,000 | 396,748 | 2.2% | ||||||||||||
502,835 | 2.8% | |||||||||||||||
Health Care
| ||||||||||||||||
Becton Dickinson | 3.125% due 11/08/2021 | 100,000 | 102,950 | 0.6% | ||||||||||||
Cardinal Health | 3.50% due 11/15/2024 | 155,000 | 170,328 | 0.9% | ||||||||||||
Gilead Sciences | 3.70% due 04/01/2024 | 250,000 | 276,479 | 1.5% | ||||||||||||
549,757 | 3.0% | |||||||||||||||
Industrials
| ||||||||||||||||
Legrand France Yankee | 8.50% due 02/15/2025 | 170,000 | 225,900 | 1.2% | ||||||||||||
Union Pacific | 3.375% due 02/01/2035 | 250,000 | 286,488 | 1.6% | ||||||||||||
512,388 | 2.8% | |||||||||||||||
Technology
| ||||||||||||||||
Cisco Systems | 2.90% due 03/04/2021 | 100,000 | 101,296 | 0.6% | ||||||||||||
Qualcomm | 3.25% due 05/20/2027 | 220,000 | 248,565 | 1.4% | ||||||||||||
349,861 | 2.0% | |||||||||||||||
Utilities
| ||||||||||||||||
PacifiCorp | 6.00% due 01/15/2039 | 250,000 | 368,542 | 2.0% | ||||||||||||
368,542 | 2.0% | |||||||||||||||
Total Corporate Bonds | $2,907,868 | 16.0% | ||||||||||||||
Government Bonds – 9.8% | ||||||||||||||||
United States Treasury Bonds
| ||||||||||||||||
United States Treasury Bond | 6.25% due 08/15/2023 | 438,000 | 516,960 | 2.8% | ||||||||||||
United States Treasury Bond | 4.50% due 02/15/2036 | 137,000 | 207,266 | 1.2% | ||||||||||||
United States Treasury Bond | 3.625% due 02/15/2044 | 155,000 | 225,955 | 1.2% | ||||||||||||
950,181 | 5.2% |
United States Treasury Notes
| ||||||||||||||
United States Treasury Note | 2.75% due 11/15/2023 | 350,000 | 378,875 | 2.1% | ||||||||||
United States Treasury Note | 2.00% due 05/31/2024 | 80,000 | 85,384 | 0.5% | ||||||||||
United States Treasury Note | 2.00% due 11/30/2022 | 250,000 | 260,440 | 1.4% | ||||||||||
United States Treasury Note | 1.625% due 04/30/2023 | 106,000 | 110,178 | 0.6% | ||||||||||
834,877 | 4.6% | |||||||||||||
Total Government Bonds | $1,785,058 | 9.8% | ||||||||||||
Municipal Bonds – 1.9% | Coupon/Maturity | | Face Amount |
| | Market Value |
| | Percentage of Assets | | ||||
General Obligation
| ||||||||||||||
Skagit SD #1 | 4.613% due 12/01/2022 | 100,000 | 102,382 | 0.6% | ||||||||||
State Education
| ||||||||||||||
New York City Housing Dev | 2.65% due 05/01/2021 | 100,000 | 101,089 | 0.5% | ||||||||||
Utility Networks
| ||||||||||||||
Tacoma WA Elec Sys Revenue | 5.966% due 01/01/2035 | 100,000 | 138,730 | 0.8% | ||||||||||
Total Municipal Bonds | $ 342,201 | 1.9% | ||||||||||||
Total investments | (Cost is $13,077,276) | $16,985,114 | 93.3% | |||||||||||
Other assets (net of liabilities) | 1,224,788 | 6.7% | ||||||||||||
Total net assets | $18,209,902 | 100.0% |
(1) Country of domicile
(2) Non-income producing
ADR: American Depositary Receipt
Saturna Investment Trust, Sextant Global High Income Fund
Common Stocks – 39.2% | | Number of Shares |
| | Market Value |
| Country | (1) | | Percentage of Assets |
| |||||
Communications
| ||||||||||||||||
Telecom Carriers | ||||||||||||||||
AT&T | 7,500 | $223,575 | United States | 2.6% | ||||||||||||
Orange ADR | 20,000 | 222,600 | France | 2.6% | ||||||||||||
SK Telecom ADR | 10,000 | 229,700 | Korea | 2.7% | ||||||||||||
675,875 | 7.9% | |||||||||||||||
Energy
| ||||||||||||||||
Exploration & Production | ||||||||||||||||
Goodrich Petroleum(2) | 200 | 1,650 | United States | 0.0% | (3) | |||||||||||
Integrated Oils | ||||||||||||||||
Equinor ADR | 17,000 | 272,850 | Norway | 3.2% | ||||||||||||
Royal Dutch Shell ADR, Class A | 3,800 | 112,784 | Netherlands | 1.3% | ||||||||||||
Total ADR | 3,800 | 150,366 | France | 1.8% | ||||||||||||
536,000 | 6.3% | |||||||||||||||
537,650 | ||||||||||||||||
Financials
| ||||||||||||||||
Banks | ||||||||||||||||
Skandinaviska Enskilda Banken, Class A | 25,000 | 248,623 | Sweden | 2.9% | ||||||||||||
Institutional Brokerage | ||||||||||||||||
Virtu Financial | 12,500 | 322,875 | United States | 3.8% | ||||||||||||
Investment Companies | ||||||||||||||||
ICAHN Enterprises Depositary Unit | 3,000 | 149,340 | United States | 1.7% | ||||||||||||
720,838 | 8.4% | |||||||||||||||
Health Care
| ||||||||||||||||
Large Pharma | ||||||||||||||||
GlaxoSmithKline ADR | 5,000 | 198,000 | United Kingdom | 2.3% | ||||||||||||
Novartis ADR | 2,500 | 215,150 | Switzerland | 2.5% | ||||||||||||
413,150 | 4.8% | |||||||||||||||
Industrials
| ||||||||||||||||
Infrastructure Construction | ||||||||||||||||
Shenzen Investment Holdings | 325,000 | 106,455 | Hong Kong | 1.2% | ||||||||||||
106,455 | 1.2% |
Materials
| ||||||||||||||||
Base Metals | ||||||||||||||||
South 32 ADR | 35,000 | 265,650 | Australia | 3.1% | ||||||||||||
Steel Raw Material Suppliers | ||||||||||||||||
BHP Biliton ADR | 5,500 | 302,830 | Australia | 3.5% | ||||||||||||
568,480 | 6.6% | |||||||||||||||
Technology
| ||||||||||||||||
Communications Equipment | ||||||||||||||||
Cisco Systems | 5,000 | 211,100 | United States | 2.5% | ||||||||||||
Infrastructure Software | ||||||||||||||||
Micro Focus International | 30,000 | 122,400 | United Kingdom | 1.5% | ||||||||||||
333,500 | 4.0% | |||||||||||||||
Total Common Stocks | $3,355,948 | 39.2% | ||||||||||||||
Corporate Bonds – 29.0% | Coupon / Maturity | | Face Amount |
| Market Value | Country (1) | | Percentage of Assets |
| |||||||
Communications
| ||||||||||||||||
Netflix | 4.375% due 11/15/2026 | $ 250,000 | $ 278,178 | United States | 3.2% | |||||||||||
T-Mobile | 6.50% due 01/15/2026 | 250,000 | 261,718 | United States | 3.1% | |||||||||||
539,896 | 6.3% | |||||||||||||||
Consumer Discretionary
| ||||||||||||||||
ADT | 4.125% due 06/15/2023 | 150,000 | 156,752 | United States | 1.8% | |||||||||||
156,752 | 1.8% | |||||||||||||||
Consumer Staples
| ||||||||||||||||
Grupo Bimbo | 4.875% due 06/27/2044 | 200,000 | 239,181 | Mexico | 2.8% | |||||||||||
239,181 | 2.8% | |||||||||||||||
Energy
| ||||||||||||||||
Petrobras International Finance | 6.875% due 01/20/2040 | 50,000 | 56,525 | Brazil | 0.7% | |||||||||||
Petrobras International Finance | 6.75% due 01/27/2041 | 80,000 | 89,501 | Brazil | 1.0% | |||||||||||
146,026 | 1.7% | |||||||||||||||
Financials
| ||||||||||||||||
Canadian Imperial Bank(4) | 3.42% due 01/26/2026 | | CAD 250,000 |
| 193,748 | Canada | 2.3% | |||||||||
Jefferies Group | 5.125% due 01/20/2023 | 250,000 | 273,389 | United States | 3.2% | |||||||||||
Lincoln National (3 month LIBOR plus 2.04%)(5) | 6.05% due 04/20/2067 | 250,000 | 177,384 | United States | 2.0% | |||||||||||
Royal Bank of Scotland | 6.125% due 12/15/2022 | 200,000 | 219,520 | United Kingdom | 2.6% | |||||||||||
864,041 | 10.1% | |||||||||||||||
Industrials
| ||||||||||||||||
Burlington Northern Santa Fe | 5.05% due 03/01/2041 | 200,000 | 274,125 | United States | 3.2% | |||||||||||
274,125 | 3.2% | |||||||||||||||
Materials
| ||||||||||||||||
Allegheny Technologies | 7.875% due 08/15/2023 | 150,000 | 157,605 | United States | 1.9% | |||||||||||
157,605 | 1.9% | |||||||||||||||
Technology
| ||||||||||||||||
Hewlett Packard | 4.65% due 12/09/2021 | 100,000 | 105,252 | United States | 1.2% | |||||||||||
105,252 | 1.2% | |||||||||||||||
Total Corporate Bonds | $ 2,482,878 | 29.0% | ||||||||||||||
Government Bonds – 10.8% | Coupon/ Maturity | Face Amount | Market Value | Country(1) | Percentage of Assets | |||||||||||||||
Foreign Government Bonds | ||||||||||||||||||||
Colombia Republic | | 8.375% due 02/15/2027 | | $ 125,000 | $ 156,901 | Colombia | 1.9% | |||||||||||||
Federal Republic of Brazil | | 12.50% due 01/05/2022 | | BRL 500,000 | 102,968 | Brazil | 1.2% | |||||||||||||
Federal Republic of Brazil | | 8.50% due 01/05/2024 | | BRL 750,000 | 152,642 | Brazil | 1.8% | |||||||||||||
Mexico Bonos Desarrollo | | 6.50% due 06/10/2021 | | MXN 8,500,000 | 394,064 | Mexico | 4.6% | |||||||||||||
Republic of Argentina - Global Bond | | 7.50% due 04/22/2026 | | 250,000 | 113,753 | Argentina | 1.3% | |||||||||||||
920,328 | 10.8% | |||||||||||||||||||
Total Government Bonds | $ 920,328 | 10.8 | % | |||||||||||||||||
Municipal Bonds - 2.4% | Coupon/ Maturity | Face Amount | Market Value | Country(1) | Percentage of Assets | |||||||||||||||
Real Estate
| ||||||||||||||||||||
Colony TX NFM Sales Tax Revenue | | 7.00% due 10/01/2027 | | $ 100,000 | $ 102,270 | United States | 1.2% | |||||||||||||
Colony TX NFM Sales Tax Revenue | | 7.25% due 10/01/2033 | | 50,000 | 51,138 | United States | 0.6% | |||||||||||||
Colony TX NFM Sales Tax Revenue | | 7.625% due 10/01/2042 | | 50,000 | 54,607 | United States | 0.6% | |||||||||||||
Total Municipal Bonds | $ 208,015 | 2.4% | ||||||||||||||||||
Warrants – 0.0% | ||||||||||||||||||||
Energy | ||||||||||||||||||||
Exploration & Production | ||||||||||||||||||||
Goodrich Petroleum Warrants (2) | 1,707 | $ – | United States | 0.0% | ||||||||||||||||
$ – | 0.0% | |||||||||||||||||||
Total investments | (Cost is $7,104,973) | $ 6,967,169 | 81.4% | |||||||||||||||||
Other assets (net of liabilities) | 1,592,327 | 18.6% | ||||||||||||||||||
Total net assets | $ 8,559,496 | 100.0% |
(1) Country of domicile
(2) Non-income producing
(3) Less than 0.05%
(4) Canadian Imperial Bank is a fixed to float bond. The bond has a fixed rate until 01/26/2021 The interest rate represents the rate in effect at August 31, 2020
(5) Variable rate security. The interest rate represents the rate in effect at August 31, 2020 and resets periodically based on the parenthetically disclosed reference rate and spread.
ADR: American Depositary Receipt
Saturna Investment Trust, Sextant Growth Fund
Common Stocks – 98.2% | Number of Shares | Market Value | Percentage of Assets | |||
Communications | ||||||
Internet Media | ||||||
Alphabet, Class A(1) | 1,584 | $ 2,581,175 | 4.4% | |||
2,581,175 | 4.4% | |||||
Consumer Discretionary
| ||||||
Apparel, Footwear & Accessory Design | ||||||
Nike, Class B | 10,276 | 1,149,782 | 2.0% | |||
E-Commerce Discretionary | ||||||
Amazon.com(1) | 1,529 | 5,276,518 | 9.1% | |||
Home Improvement | ||||||
Stanley Black & Decker | 8,684 | 1,400,729 | 2.4% | |||
Home Products Stores | ||||||
Home Depot | 4,000 | 1,140,160 | 1.9% | |||
Lowe’s | 11,200 | 1,844,528 | 3.2% | |||
2,984,688 | 5.1% | |||||
Other Commercial Services | ||||||
Ecolab | 6,243 | 1,230,370 | 2.1% | |||
Restaurants | ||||||
Domino’s Pizza | 1,800 | 736,128 | 1.3% | |||
Starbucks | 14,674 | 1,239,513 | 2.1% | |||
1,975,641 | 3.4% | |||||
Specialty Apparel Stores | ||||||
Ross Stores | 5,800 | 528,264 | 0.9% | |||
TJX Companies | 11,078 | 606,964 | 1.0% | |||
1,135,228 | 1.9% | |||||
15,152,956 | 26.0% | |||||
Consumer Staples
| ||||||
Mass Merchants | ||||||
Costco Wholesale | 4,883 | 1,697,623 | 2.9% | |||
1,697,623 | 2.9% | |||||
Financials | ||||||
Consumer Finance | ||||||
Fidelity National Information Services | 11,144 | 1,681,072 | 2.9% | |||
Mastercard, Class A | 8,914 | 3,192,906 | 5.5% | |||
| ||||||
4,873,978 | 8.4% | |||||
Institutional Brokerage
| ||||||
Virtu Financial | 25,000 | 645,750 | 1.1% | |||
5,519,728 | 9.5% |
Health Care
| ||||||
Large Pharma | ||||||
Bristol-Myers Squibb | 15,600 | 970,320 | 1.7% | |||
Merck & Co | 10,000 | 852,700 | 1.4% | |||
1,823,020 | 3.1% | |||||
Medical Devices | ||||||
Abbott Laboratories | 20,799 | 2,276,867 | 3.9% | |||
Edwards Lifesciences(1) | 17,100 | 1,467,864 | 2.5% | |||
Stryker | 3,000 | 594,480 | 1.0% | |||
4,339,211 | 7.4% | |||||
6,162,231 | 10.5% | |||||
Industrials | ||||||
Measurement Instruments | ||||||
Trimble(1) | 12,000 | 628,860 | 1.1% | |||
628,860 | 1.1% | |||||
Materials
| ||||||
Precious Metal Mining | ||||||
Newmont Corporation | 18,000 | 1,211,040 | 2.1% | |||
Specialty Chemicals | ||||||
RPM International | 18,000 | 1,525,860 | 2.6% | |||
2,736,900 | 4.7% | |||||
Technology | ||||||
Application Software | ||||||
Adobe(1) | 9,300 | 4,774,527 | 8.2% | |||
DocuSign(1) | 8,500 | 1,895,500 | 3.3% | |||
Electronic Arts(1) | 4,000 | 557,880 | 0.9% | |||
Take-Two Interactive Software(1) | 7,500 | 1,283,925 | 2.2% | |||
8,511,832 | 14.6% |
Communications Equipment
| ||||||
Apple | 40,000 | 5,161,600 | 8.9% | |||
Infrastructure Software
| ||||||
Microsoft | 18,920 | 4,267,028 | 7.3% | |||
Oracle | 21,300 | 1,218,786 | 2.1% | |||
| ||||||
5,485,814 | 9.4% | |||||
Semiconductor Devices
| ||||||
NVIDIA | 1,200 | 641,976 | 1.1% | |||
Qualcomm | 12,000 | 1,429,200 | 2.5% | |||
Texas Instruments | 3,600 | 511,740 | 0.8% | |||
Xilinx | 10,000 | 1,041,600 | 1.8% | |||
3,624,516 | 6.2% | |||||
22,783,762 | 39.1% | |||||
Total investments | (Cost is $20,873,796) | $ 57,263,235 | 98.2% | |||
Other assets (net of liabilities) | 1,036,672 | 1.8% | ||||
Total net assets | $ 58,299,907 | 100.0% |
(1) Non-income producing
Saturna Investment Trust, Sextant International Fund
Common Stocks – 98.7% | | Number of Shares | | | Market Value | | Country(1) | | Percentage of Assets | | ||||||
Communications
| ||||||||||||||||
Telecom Carriers | ||||||||||||||||
BCE | 50,000 | $ 2,150,500 | Canada | 2.7% | ||||||||||||
Telus | 100,000 | 1,841,000 | Canada | 2.4% | ||||||||||||
3,991,500 | 5.1% | |||||||||||||||
Consumer Discretionary
| ||||||||||||||||
Apparel, Footwear & Accessory Design | ||||||||||||||||
Hermes International | 600 | 516,779 | France | 0.7% | ||||||||||||
E-Commerce Discretionary | ||||||||||||||||
MercadoLibre | 5,000 | 5,842,950 | Argentina | 7.4% | ||||||||||||
6,359,729 | 8.1% | |||||||||||||||
Consumer Staples
| ||||||||||||||||
Beverages | ||||||||||||||||
Fomento Economico Mex ADR | 29,500 | 1,720,735 | Mexico | 2.2% | ||||||||||||
Pernod Ricard ADR | 25,000 | 858,000 | France | 1.1% | ||||||||||||
2,578,735 | 3.3% | |||||||||||||||
Household Products | ||||||||||||||||
L’Oreal | 2,000 | 665,142 | France | 0.8% | ||||||||||||
Reckitt Benckiser Group PLC | 16,000 | 1,608,715 | United Kingdom | 2.0% | ||||||||||||
Unicharm | 16,000 | 696,085 | Japan | 0.9% | ||||||||||||
Unilever ADR | 50,000 | 2,979,000 | United Kingdom | 3.8% | ||||||||||||
5,948,942 | 7.5% | |||||||||||||||
8,527,677 | 10.8% | |||||||||||||||
Health Care
| ||||||||||||||||
Biotech | ||||||||||||||||
CRISPR Therapeutics(2) | 10,000 | 934,600 | United States | 1.2% | ||||||||||||
Large Pharma | ||||||||||||||||
GlaxoSmithKline ADR | 13,000 | 514,800 | United Kingdom | 0.6% | ||||||||||||
Novartis ADR | 33,000 | 2,839,980 | Switzerland | 3.6% | ||||||||||||
Novo Nordisk ADR | 50,000 | 3,302,000 | Denmark | 4.2% | ||||||||||||
6,656,780 | 8.4% | |||||||||||||||
Medical Equipment | ||||||||||||||||
Alcon(2) | 25,000 | 1,433,500 | Switzerland | 1.8% | ||||||||||||
Koninklijke Philips | 32,649 | 1,550,501 | Netherlands | 2.0% | ||||||||||||
2,984,001 | 3.8% | |||||||||||||||
10,575,381 | 13.4% | |||||||||||||||
Industrials
| ||||||||||||||||
Marine Shipping | ||||||||||||||||
Frontline | 24,000 | 191,040 | Norway | 0.2% | ||||||||||||
191,040 | 0.2% | |||||||||||||||
Materials
| ||||||||||||||||
Basic & Diversified Chemicals | ||||||||||||||||
Linde | 3,500 | 874,090 | Ireland | 1.1% | ||||||||||||
Precious Metal Mining
| ||||||||||||||
Agnico-Eagle Mines | 20,000 | 1,650,000 | Canada | 2.1% | ||||||||||
Barrick Gold | 40,000 | 1,186,000 | Canada | 1.5% | ||||||||||
2,836,000 | 3.6% | |||||||||||||
Steel Raw Material Suppliers
| ||||||||||||||
Rio Tinto ADR | 35,000 | 2,143,050 | United Kingdom | 2.7% | ||||||||||
5,853,140 | 7.4% | |||||||||||||
Technology
| ||||||||||||||
Application Software | ||||||||||||||
Dassault Systemes ADR | 34,153 | 6,447,506 | France | 8.2% | ||||||||||
NICE Systems ADR | 40,000 | 9,194,000 | Israel | 11.6% | ||||||||||
Open Text US | 50,000 | 2,269,000 | Canada | 2.9% | ||||||||||
SAP ADR | 12,850 | 2,125,518 | Germany | 2.7% | ||||||||||
20,036,024 | 25.4% | |||||||||||||
Consumer Electronics
| ||||||||||||||
Nintendo | 3,400 | 1,828,004 | Japan | 2.3% | ||||||||||
Sony ADR | 25,000 | 1,966,000 | Japan | 2.5% | ||||||||||
3,794,004 | 4.8% | |||||||||||||
Information Services
| ||||||||||||||
Wolters Kluwer | 90,000 | 7,399,024 | Netherlands | 9.4% | ||||||||||
IT Services
| ||||||||||||||
Accenture, Class A | 9,250 | 2,219,352 | Ireland | 2.8% | ||||||||||
Semiconductor Manufacturing
| ||||||||||||||
ASML | 18,000 | 6,735,240 | Netherlands | 8.5% | ||||||||||
40,183,644 | 50.9% | |||||||||||||
Utilities
| ||||||||||||||
Power Generation | ||||||||||||||
Iberdrola | 177,174 | 2,240,241 | Spain | 2.8% | ||||||||||
2,240,241 | 2.8% | |||||||||||||
Total investments | (Cost is $35,548,767 | ) | $ 77,922,352 | 98.7% | ||||||||||
Other assets (net of liabilities) | 1,040,827 | 1.3% | ||||||||||||
Total net assets | $ 78,963,179 | 100.0% |
(1) Country of domicile
(2) Non-income producing
ADR: American Depositary Receipt
Saturna Investment Trust, Saturna Sustainable Equity Fund
Common Stocks – 96.3% | | Number of Shares | | | Market Value | | Country(1) | | Percentage of Assets | | ||||||
Communications
| ||||||||||||||||
Telecom Carriers | ||||||||||||||||
Telekomunikasi Indonesia ADR | 2,000 | $ 39,860 | Indonesia | 0.3% | ||||||||||||
39,860 | 0.3% | |||||||||||||||
Consumer Discretionary
| ||||||||||||||||
Apparel, Footwear & Accessory Design | ||||||||||||||||
adidas ADR | 1,580 | 241,550 | Germany(2) | 1.8% | ||||||||||||
Automobiles
| ||||||||||||||||
Toyota Motor ADR | 1,000 | 132,430 | Japan | 1.0% | ||||||||||||
Consumer Electronic & Appliance Stores
| ||||||||||||||||
Best Buy | 1,000 | 110,910 | United States | 0.8% | ||||||||||||
E-Commerce Discretionary
| ||||||||||||||||
Amazon.com(3) | 82 | 282,979 | United States | 2.2% | ||||||||||||
Home Products Stores
| ||||||||||||||||
Home Depot | 950 | 270,788 | United States | 2.1% | ||||||||||||
Lowe’s | 1,500 | 247,035 | United States | 1.9% | ||||||||||||
517,823 | 4.0% | |||||||||||||||
Other Commercial Services
| ||||||||||||||||
Ecolab | 900 | 177,372 | United States | 1.3% | ||||||||||||
Restaurants
| ||||||||||||||||
Starbucks | 1,713 | 144,697 | United States | 1.1% | ||||||||||||
Specialty Apparel Stores
| ||||||||||||||||
TJX Companies | 3,000 | 164,370 | United States | 1.3% | ||||||||||||
Toys & Games
| ||||||||||||||||
Hasbro | 1,800 | 142,092 | United States | 1.1% | ||||||||||||
1,914,223 | 14.6% | |||||||||||||||
Consumer Staples
| ||||||||||||||||
Household Products | ||||||||||||||||
Church & Dwight | 2,400 | 229,992 | United States | 1.7% | ||||||||||||
L’Oreal ADR | 3,900 | 257,907 | United States(2) | 2.0% | ||||||||||||
Reckitt Benckiser Group PLC ADR | 12,200 | 244,976 | United Kingdom | 1.9% | ||||||||||||
Unicharm ADR | 28,000 | 245,560 | United States | 1.9% | ||||||||||||
Unilever NY | 4,300 | 249,400 | Netherlands | 1.9% | ||||||||||||
1,227,835 | 9.4% |
Packaged Food | ||||||||||||||||
Nestle ADR | 1,000 | 120,405 | Switzerland | 0.9% | ||||||||||||
1,348,240 | 10.3% | |||||||||||||||
Energy
| ||||||||||||||||
Renewable Energy Equipment | ||||||||||||||||
Siemens Gamesa Renewable Energy | 11,000 | 295,797 | Spain | 2.3% | ||||||||||||
Vestas Wind Systems | 2,200 | 333,318 | Denmark | 2.5% | ||||||||||||
629,115 | 4.8% | |||||||||||||||
Financials
| ||||||||||||||||
Banks | ||||||||||||||||
Toronto-Dominion Bank | 3,000 | 149,580 | Canada | 1.1% | ||||||||||||
Consumer Finance | ||||||||||||||||
Mastercard, Class A | 500 | 179,095 | United States | 1.4% | ||||||||||||
Islamic Banking | ||||||||||||||||
BIMB Holdings | 157,100 | 139,521 | Malaysia | 1.1% | ||||||||||||
Life Insurance | ||||||||||||||||
AIA Group | 25,000 | 256,121 | Hong Kong | 1.9% | ||||||||||||
Aviva PLC ADR | 10,000 | 76,500 | United States | 0.6% | ||||||||||||
332,621 | 2.5% | |||||||||||||||
P&C Insurance | ||||||||||||||||
Chubb | 1,000 | 125,000 | Switzerland | 0.9% | ||||||||||||
925,817 | 7.0% | |||||||||||||||
Health Care
| ||||||||||||||||
Biotech | ||||||||||||||||
CRISPR Therapeutics(3) | 1,200 | 112,152 | United States | 0.8% | ||||||||||||
Health Care Facilities | ||||||||||||||||
IHH Healthcare | 141,000 | 181,408 | Malaysia | 1.4% | ||||||||||||
Large Pharma | ||||||||||||||||
Astellas Pharma ADR | 10,500 | 164,535 | United States | 1.3% | ||||||||||||
GlaxoSmithKline ADR | 5,400 | 213,840 | United Kingdom | 1.6% | ||||||||||||
Johnson & Johnson | 700 | 107,387 | United States | 0.8% | ||||||||||||
Novartis ADR | 2,150 | 185,029 | Switzerland | 1.4% | ||||||||||||
Novo Nordisk ADR | 2,500 | 165,100 | Denmark | 1.3% | ||||||||||||
Roche Holding ADR | 5,800 | 253,460 | Switzerland | 1.9% | ||||||||||||
1,089,351 | 8.3% | |||||||||||||||
Medical Equipment | ||||||||||||||||
Koninklijke Philips | 4,800 | 227,952 | Netherlands | 1.7% | ||||||||||||
1,610,863 | 12.2% |
Industrials
| ||||||||||||||||
Commercial & Residential Building Equipment & Systems | ||||||||||||||||
Assa Abloy ADR | 22,500 | 259,200 | United States | 2.0% | ||||||||||||
Legrand | 3,100 | 259,320 | France | 2.0% | ||||||||||||
518,520 | 4.0% | |||||||||||||||
Electrical Components | ||||||||||||||||
TE Connectivity | 1,351 | 130,506 | Switzerland | 1.0% | ||||||||||||
Electrical Power Equipment | ||||||||||||||||
Schneider Electric ADR | 11,100 | 274,503 | United States | 2.1% | ||||||||||||
Siemens ADR | 1,000 | 69,430 | Germany | 0.5% | ||||||||||||
343,933 | 2.6% | |||||||||||||||
Rubber & Plastic | ||||||||||||||||
Hartalega | 100,000 | 397,177 | Malaysia | 3.0% | ||||||||||||
1,390,136 | 10.6% | |||||||||||||||
Materials
| ||||||||||||||||
Specialty Chemicals | ||||||||||||||||
Johnson Matthey | 4,031 | 127,344 | United Kingdom | 1.0% | ||||||||||||
Koninklijke DSM | 1,213 | 194,686 | Netherlands | 1.5% | ||||||||||||
Novozymes ADR | 4,250 | 250,559 | Denmark | 1.9% | ||||||||||||
572,589 | 4.4% | |||||||||||||||
Technology
| ||||||||||||||||
Application Software | ||||||||||||||||
Adobe Systems(3) | 1,000 | 513,390 | United States | 3.9% | ||||||||||||
Atlassian Corporation(3) | 650 | 124,644 | Australia | 0.9% | ||||||||||||
Dassault Systemes ADR | 1,506 | 284,307 | France | 2.2% | ||||||||||||
Electronic Arts(3) | 700 | 97,629 | United States | 0.7% | ||||||||||||
Open Text | 3,750 | 170,175 | Canada | 1.3% | ||||||||||||
1,190,145 | 9.0% | |||||||||||||||
Communications Equipment | ||||||||||||||||
Apple | 4,000 | 516,160 | United States | 3.9% | ||||||||||||
Consumer Electronics | ||||||||||||||||
Nintendo ADR | 4,425 | 298,112 | United States | 2.3% | ||||||||||||
Sony ADR | 3,500 | 275,240 | Japan | 2.1% | ||||||||||||
573,352 | 4.4% | |||||||||||||||
Electronics Components | ||||||||||||||||
Murata Manufacturing | 3,000 | 177,206 | Japan | 1.3% |
Information Services | ||||||||
Wolters Kluwer | 2,000 | 164,423 | Netherlands | 1.3% | ||||
Infrastructure Software | ||||||||
Microsoft | 1,438 | 324,312 | United States | 2.5% | ||||
IT Services | ||||||||
Accenture, Class A | 900 | 215,937 | Ireland | 1.6% | ||||
CGI Group Class A(3) | 3,000 | 210,570 | Canada | 1.6% | ||||
426,507 | 3.2% | |||||||
Semiconductor Devices | ||||||||
NXP Semiconductors | 1,800 | 226,368 | Netherlands | 1.7% | ||||
STMicroelectronics | 3,800 | 114,950 | Switzerland | 0.9% | ||||
341,318 | 2.6% | |||||||
Semiconductor Mfg
| ||||||||
Taiwan Semiconductor ADR | 3,250 | 257,563 | Taiwan | 2.0% | ||||
3,970,986 | 30.2% | |||||||
Utilities
| ||||||||
Power Generation | ||||||||
Iberdrola | 20,211 | 255,554 | Spain | 1.9% | ||||
255,554 | 1.9% | |||||||
Total investments | (Cost is $8,680,883) | $ 12,657,383 | 96.3% | |||||
Other assets (net of liabilities) | 490,566 | 3.7% | ||||||
Total net assets | $ 13,147,949 | 100.0% |
(1) Country of domicile
(2) Denotes a country of primary exposure
(3) Non-income producing
ADR: American Depositary Receipt
Saturna Investment Trust, Saturna Sustainable Bond Fund
Corporate Bonds - | Coupon/Maturity | Face Amount | | Market Value | | Country(1) | | Percentage of Assets |
| |||||
Communications
| ||||||||||||||
Telecom Italia(2) | 5.303% due 05/30/2024 | $ 500,000 | $ 551,980 | Italy | 2.0% | |||||||||
Telecom Italia(3) | 3.00% due 09/30/2025 | EUR 520,000 | 648,848 | Italy | 2.3% | |||||||||
Vodafone Group | 3.75% due 01/16/2024 | 200,000 | 219,365 | United Kingdom | 0.8% | |||||||||
1,420,193 | 5.1% | |||||||||||||
Consumer Discretionary
| ||||||||||||||
Barry Callebaut(2) | 5.50% due 06/15/2023 | 500,000 | 533,766 | Belgium | 1.9% | |||||||||
Barry Callebaut(3) | 5.50% due 06/15/2023 | 500,000 | 533,766 | Belgium | 1.9% | |||||||||
Starbucks | 2.45% due 06/15/2026 | 250,000 | 271,033 | United States | 1.0% | |||||||||
1,338,565 | 4.8% | |||||||||||||
Consumer Staples
| ||||||||||||||
Danone(2) | 2.589% due 11/02/2023 | 750,000 | 791,795 | France | 2.8% | |||||||||
Danone(3,4) | 1.75% due 03/27/2070 | EUR 500,000 | 600,606 | France | 2.1% | |||||||||
1,392,401 | 4.9% | |||||||||||||
Financials
| ||||||||||||||
AXA(3,5) | 5.125% due 01/17/2047 | 500,000 | 570,859 | France | 2.0% | |||||||||
Bank of Nova Scotia(6) | 4.90% due 06/04/2070 | 1,000,000 | 1,046,250 | Canada | 3.7% | |||||||||
Canadian Imperial | 3.42% due 01/26/2026 | CAD 1,150,000 | 891,240 | Canada | 3.2% | |||||||||
First Abu Dhabi Bank(3) | 3.00% due 03/30/2022 | 750,000 | 774,152 | United Arab Emirates | 2.7% | |||||||||
Iron Mountain(2) | 5.25% due 07/15/2030 | 500,000 | 530,645 | United States | 1.9% | |||||||||
Lincoln National (3 month LIBOR plus | 2.63763% due 05/17/2066 | 1,750,000 | 1,312,850 | United States | 4.6% | |||||||||
MAF Sukuk(3) | 4.638% due 05/14/2029 | 1,100,000 | 1,196,296 | United Arab Emirates | 4.2% | |||||||||
RaboBank | 2.50% due 01/19/2021 | 250,000 | 252,115 | Netherlands | 0.9% | |||||||||
6,574,407 | 23.2% | |||||||||||||
Health Care
| ||||||||||||||
Novartis Capital | 3.40% due 05/06/2024 | 100,000 | 110,468 | Switzerland | 0.4% | |||||||||
Roche(2) | 2.625% due 05/15/2026 | 200,000 | 220,899 | Switzerland | 0.8% | |||||||||
331,367 | 1.2% | |||||||||||||
Materials
| ||||||||||||||
Koninklijke DSM(3) | 1.00% due 04/09/2025 | EUR 1,000,000 | 1,246,278 | Netherlands | 4.4% | |||||||||
Stora Enso(2) | 7.25% due 04/15/2036 | 200,000 | 241,199 | Finland | 0.9% | |||||||||
1,487,477 | 5.3% |
Technology
| ||||||||||||||
Adobe | 2.30% due 02/01/2030 | 200,000 | 216,063 | United States | 0.8% | |||||||||
Apple Inc | 2.65% due 05/11/2050 | 500,000 | 516,591 | United States | 1.8% | |||||||||
Microsoft | 5.30% due 02/08/2041 | 950,000 | 1,437,099 | United States | 5.1% | |||||||||
Nokia | 3.375% due 06/12/2022 | 750,000 | 772,500 | Finland | 2.7% | |||||||||
NOKIA(3) | 2.375% due 05/15/2025 | EUR 200,000 | 257,235 | Finland | 0.9% | |||||||||
NXP BV/NXP Funding(2) | 3.40% due 05/01/2030 | 500,000 | 554,293 | Netherlands | 2.0% | |||||||||
RELX | 4.00% due 03/18/2029 | 700,000 | 827,650 | United Kingdom | 2.9% | |||||||||
4,581,431 | 16.2% | |||||||||||||
Utilities
| ||||||||||||||
United Utilities | 6.875% due 08/15/2028 | 135,000 | 176,683 | United Kingdom | 0.6% | |||||||||
| 176,683
|
|
| 0.6%
|
| |||||||||
Total Corporate Bonds | $17,302,524 | 61.3% | ||||||||||||
Government Bonds – 35.5% | Coupon/Maturity | Face Amount | Market Value | Country (1) | Percentage of Assets | |||||||||
Financial Services
| ||||||||||||||
European Investment Bank | 3.30% due 02/03/2028 | AUD 750,000 | $ 643,012 | Other | 2.3% | |||||||||
KFW | 2.00% due 11/30/2021 | 1,300,000 | 1,328,852 | Germany | 4.7% | |||||||||
1,971,864 | 7.0% | |||||||||||||
Foreign Government Bonds
| ||||||||||||||
Federal Republic of Brazil | 12.50% due 01/05/2022 | BRL 3,000,000 | 617,808 | Brazil | 2.2% | |||||||||
International Financial Corp | 4.75% due 04/29/2021 | MXN 15,000,000 | 683,164 | Mexico | 2.4% | |||||||||
Mexico Bonos Desarrollo | 6.50% due 06/10/2021 | MXN 25,000,000 | 1,159,012 | Mexico | 4.1% | |||||||||
Ontario | 2.65% due 02/05/2025 | CAD 500,000 | 415,586 | Canada | 1.5% | |||||||||
Perusahaan Penerbit | 3.75% due 03/01/2023 | 500,000 | 529,580 | Indonesia | 1.8% | |||||||||
Perusahaan Penerbit | 4.45% due 02/20/2029 | 500,000 | 583,495 | Indonesia | 2.1% | |||||||||
Republic of Colombia | 7.75% due 04/14/2021 | COP 2,500,000,000 | 685,568 | Colombia | 2.4% | |||||||||
4,674,213 | 16.5% | |||||||||||||
United States Treasury Bills
| ||||||||||||||
United States Treasury Bill | 1.25% due 05/15/2050 | 500,000 | 475,000 | United States | 1.7% | |||||||||
475,000 | 1.7% | |||||||||||||
United States Treasury Bonds
| ||||||||||||||
United States Treasury Bond | 4.50% due 05/15/2038 | 850,000 | 1,326,432 | United States | 4.7% | |||||||||
United States Treasury Bond | 3.375% due 11/15/2048 | 900,000 | 1,309,113 | United States | 4.6% | |||||||||
2,635,545 | 9.3% | |||||||||||||
United States Treasury Notes
| ||||||||||||||
United States Treasury Note | 2.75% due 02/28/2025 | 250,000 | 278,056 | United States | 1.0% | |||||||||
278,056 | 1.0% | |||||||||||||
Total Government Bonds | 10,034,678 | 35.5% | ||||||||||||
Total investments | (Cost is $26,511,903) | $27,337,202 | 96.8% | |||||||||||
Other assets (net of liabilities) | 907,664 | 3.2% | ||||||||||||
Total net assets | $28,244,866 | 100.0% |
(1) | Country of risk |
(2) | Security was purchased pursuant to Rule 144A under the Securities Act of 1933 and may be sold in transactions exempt from registration only to qualified institutional buyers or in public offering registered under the Securities Act of 1933. These securities have been deemed liquid under guidelines approved by the Trust’s Board of Trustees. At August 31, 2020, the net value of these securities was $3,424,577 representing 12.1% of net assets. |
(3) | 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, 2020, the aggregate value of these securities was $6,941,116 representing 24.5% of net assets. |
(4) | Danone SA is a fixed to float bond. The bond has a fixed rate until 06/23/2023 The interest rate represents the rate in effect at August 31, 2020 |
(5) | AXA is a fixed to float bond. The bond has a fixed rate until 01/17/2027 The interest rate represents the rate in effect at August 31, 2020 |
(6) | Security is perpetual in nature and has no stated maturity |
(7) | Canadian Imperial Bank is a fixed to float bond. The bond has a fixed rate until 01/26/2021 The interest rate represents the rate in effect at August 31, 2020 |
(8) | Variable rate security. The interest rate represents the rate in effect at August 31, 2020 and resets periodically based on the parenthetically disclosed reference rate and spread. |
Saturna Investment Trust, Idaho Tax-Exempt Fund
Municipal Bonds – 88.6% | Coupon/Maturity | Face Amount | Market Value | Percentage of Assets | ||||||||||
Financial Services
| ||||||||||||||
Idaho Bond Bank | 4.00% due 09/15/2032 | $405,000 | $442,900 | 3.0% | ||||||||||
Idaho Housing & Finance Rev | 3.00% due 07/01/2036 | 235,000 | 239,517 | 1.6% | ||||||||||
682,417 | 4.6% | |||||||||||||
General Obligation
| ||||||||||||||
Ada & Canyon Cos ID JSD #2 Meridian | 5.00% due 08/15/2032 | 325,000 | 394,157 | 2.6% | ||||||||||
Ada & Canyon Cos ID JSD #3 Kuna | 4.00% due 09/15/2027 | 100,000 | 122,730 | 0.8% | ||||||||||
Boise City ID Independent SD | 3.00% due 08/01/2038 | 100,000 | 104,185 | 0.7% | ||||||||||
Bonneville & Bingham Cos JSD #93 | 5.00% due 09/15/2031 | 200,000 | 217,852 | 1.5% | ||||||||||
Bonneville & Bingham Cos JSD #93 | 5.00% due 09/15/2029 | 250,000 | 272,638 | 1.8% | ||||||||||
Bonneville Co ID SCD #91 | 4.00% due 09/15/2026 | 15,000 | 16,122 | 0.1% | ||||||||||
Bonneville Co ID SCD #91 | 4.00% due 09/15/2026 | 35,000 | 37,487 | 0.3% | ||||||||||
Bonneville Co ID SCD #91 | 3.75% due 09/15/2032 | 285,000 | 305,306 | 2.0% | ||||||||||
Boundary County ID SCD #101 | 4.00% due 08/15/2021 | 240,000 | 244,169 | 1.6% | ||||||||||
Canyon Co ID SCD #134 Middleton | 4.00% due 09/15/2028 | 400,000 | 461,808 | 3.1% | ||||||||||
Canyon Co ID SCD #135 Notus | 3.25% due 09/15/2031 | 290,000 | 319,879 | 2.1% | ||||||||||
Canyon Co ID SCD #135 Notus | 3.25% due 09/15/2032 | 170,000 | 186,244 | 1.3% | ||||||||||
Canyon Co ID SCD #139 Vallivue | 5.00% due 09/15/2024 | 260,000 | 284,713 | 1.9% | ||||||||||
Cariboo Franklin Bannock JSD #148 | 3.25% due 09/15/2035 | 300,000 | 334,521 | 2.2% | ||||||||||
Cassia Oneida Twin Falls JSD #151 | 3.375% due 09/15/2034 | 160,000 | 170,792 | 1.1% | ||||||||||
College of Western ID Annual Approp | 4.00% due 10/01/2027 | 125,000 | 151,908 | 1.0% | ||||||||||
Kootenai Co ID SCD # 271 UNREF | 4.00% due 09/15/2025 | 125,000 | 134,120 | 0.9% | ||||||||||
Kootenai Co ID SCD #271 PREREF | 4.00% due 09/15/2025 | 40,000 | 42,951 | 0.3% | ||||||||||
Kootenai Co ID SCD #273 | 4.00% due 08/15/2031 | 265,000 | 301,101 | 2.0% | ||||||||||
Kootenai-Shoshone ID Area Libraries | 4.25% due 08/01/2021 | 220,000 | 223,731 | 1.5% | ||||||||||
Latah Co ID SCD #281 Moscow Ser B | 4.00% due 08/15/2027 | 100,000 | 109,297 | 0.7% | ||||||||||
Latah Co ID SCD #281 Moscow Ser B | 4.00% due 08/15/2028 | 200,000 | 217,472 | 1.5% | ||||||||||
Madison Co. Id. SDC #321 | 5.00% due 09/15/2035 | 250,000 | 312,970 | 2.1% | ||||||||||
Owyhee & Canyon Co. # 363 Marsing | 4.00% due 09/15/2035 | 150,000 | 173,872 | 1.2% | ||||||||||
Teton Co, ID SCD #401 Driggs | 4.00% due 09/15/2035 | 500,000 | 590,735 | 4.0% | ||||||||||
Twin Falls Co ID SCD #411 | 4.00% due 09/15/2027 | 170,000 | 192,030 | 1.3% | ||||||||||
Twin Falls Co ID SCD #411 | 4.25% due 09/15/2030 | 300,000 | 337,728 | 2.3% | ||||||||||
Twin Falls Co ID SCD #411 | 4.75% due 09/15/2039 | 200,000 | 235,414 | 1.6% | ||||||||||
Twin Falls Co ID SCD #411 Series A | 4.25% due 09/15/2031 | 100,000 | 112,154 | 0.8% | ||||||||||
Valley & Adams Cos ID JSD #421 | 3.00% due 08/01/2026 | 220,000 | 230,406 | 1.5% | ||||||||||
6,838,492 | 45.8% |
Health Care Facilities
| ||||||||||||||
Idaho Health Faci Auth Hos Rev | 5.00% due 12/01/2047 | 260,000 | 311,357 | 2.1% | ||||||||||
Medical—Hospitals
| ||||||||||||||
Idaho Health Rev Trinity Health Grp | 3.25% due 12/01/2028 | 300,000 | 323,031 | 2.2% | ||||||||||
Pollution Control
| ||||||||||||||
Idaho Bond Bank | 4.00% due 09/15/2033 | 135,000 | 159,451 | 1.1% | ||||||||||
Idaho Bond Bank Authority | 4.30% due 09/01/2022 | 20,000 | 20,067 | 0.1% | ||||||||||
Idaho Bond Bank Authority | 4.00% due 09/15/2032 | 130,000 | 154,253 | 1.0% | ||||||||||
333,771 | 2.2% | |||||||||||||
Real Estate
| ||||||||||||||
Idaho Fish Wildlife Foundation Rev | 5.00% due 12/01/2033 | 320,000 | 406,679 | 2.7% | ||||||||||
Idaho St. Fish & Wildlife | 4.00% due 12/01/2036 | 200,000 | 240,820 | 1.7% | ||||||||||
Idaho State Building Authority | 5.00% due 09/01/2031 | 200,000 | 219,084 | 1.5% | ||||||||||
Idaho State Building Authority | 5.00% due 09/01/2032 | 400,000 | 438,168 | 2.9% | ||||||||||
Post Falls ID LID SPA | 5.00% due 05/01/2021 | 90,000 | 90,430 | 0.6% | ||||||||||
1,395,181 | 9.4% | |||||||||||||
State Education
| ||||||||||||||
Boise State University ID Revenue | 5.00% due 04/01/2028 | 125,000 | 147,136 | 1.0% | ||||||||||
Boise State University ID Revenue | 5.00% due 04/01/2032 | 160,000 | 190,612 | 1.3% | ||||||||||
Idaho State University | 4.00% due 04/01/2027 | 170,000 | 192,914 | 1.3% | ||||||||||
Idaho State University | 4.00% due 04/01/2030 | 245,000 | 274,202 | 1.8% | ||||||||||
Idaho State University Revenue | 3.00% due 04/01/2031 | 250,000 | 265,423 | 1.8% | ||||||||||
Idaho State University Revenue | 3.00% due 04/01/2032 | 160,000 | 169,090 | 1.1% | ||||||||||
Jefferson & Madison Cos. ID SCD#251 | 5.00% due 09/15/2028 | 100,000 | 132,460 | 0.9% | ||||||||||
Nez Perce CO ISD #1 Lewiston | 5.00% due 09/15/2029 | 330,000 | 417,826 | 2.8% | ||||||||||
North Idaho College Dormitory Rev | 4.00% due 11/01/2030 | 285,000 | 323,481 | 2.2% | ||||||||||
University of Idaho Revenue | 5.00% due 04/01/2032 | 455,000 | 482,600 | 3.2% | ||||||||||
2,595,744 | 17.4% | |||||||||||||
Transportation
| ||||||||||||||
Boise ID Airport Park Fac Rev | 3.00% due 09/01/2028 | 210,000 | 212,971 | 1.4% | ||||||||||
Water Supply
| ||||||||||||||
Payette Lakes ID Recreational | 4.00% due 08/01/2032 | 195,000 | 225,044 | 1.5% | ||||||||||
Payette Lakes Rec Wtr & Swr Rev | 4.00% due 08/01/2034 | 255,000 | 292,406 | 2.0% | ||||||||||
517,450 | 3.5% | |||||||||||||
Total investments | (Cost is $12,378,685) | $13,210,414 | 88.6% | |||||||||||
Other assets (net of liabilities) | 1,706,985 | 11.4% | ||||||||||||
Total net assets | $14,917,399 | 100.0% |
Notes to Schedule of Investments (unaudited)
1. Organization:
Saturna Investment Trust (the “Trust”) was established under Washington State Law as a business trust on February 20, 1987.
2. Significant Accounting Policies
a. Security valuation:
Under procedures approved by the Trust’s Board of Directors, Saturna Capital, the Trust’s investment adviser and administrator, has formed a Pricing Committee to administer the pricing and valuation of portfolio securities, including valuation of securities for which market quotations are not readily available.
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 the latest bid price.
Debt securities are valued using bid-side valuations provided by an independent service. The service determines valuations using factors such as yields or prices of bonds of comparable quality, type of issue, coupon maturity, ratings, trading activity, and general market conditions.
Fixed-income debt instruments, such as commercial paper, bankers’ acceptances and US Treasury Bills, with a maturity of 60 days or less are valued at amortized cost, which approximates market value. Any discount or premium is accreted or amortized on a straight-line basis until maturity.
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 or under the direction of the Board of Trustees.
Security transactions are recorded on the trade date. Realized gains and losses on sales of securities are recorded on the identified cost basis.
b. 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, 2020 in valuing the Funds’ investments carried at value:
Level 1 | Level 2 | Level 3 | ||||||||||
Funds | Quoted Price | Significant Observable Input | Significant Unobservable Input | Total | ||||||||
Sextant Short-Term Bond | ||||||||||||
Corporate Bonds(1) | $- | $ 8,106,555 | $- | $ 8,106,555 | ||||||||
Government Bonds(1) | $- | $ 2,753,360 | $- | $ 2,753,360 | ||||||||
Total Assets | $- | $10,859,915 | $- | $10,859,915 | ||||||||
| ||||||||||||
Sextant Bond Income | ||||||||||||
Corporate Bonds(1) | $- | $ 7,893,741 | $- | $ 7,893,741 | ||||||||
Government Bonds(1) | $- | $ 4,052,796 | $- | $ 4,052,796 | ||||||||
Municipal Bonds(1) | $- | $ 426,214 | $- | $ 426,214 | ||||||||
Total Assets | $- | $12,372,751 | $- | $12,372,751 | ||||||||
| ||||||||||||
Sextant Core | ||||||||||||
Common Stock(1) | $11,949,987 | $- | $- | $11,949,987 | ||||||||
Corporate Bonds(1) | $- | $ 2,907,868 | $- | $ 2,907,868 | ||||||||
Government Bonds(1) | $- | $ 1,785,058 | $- | $ 1,785,058 | ||||||||
Municipal Bonds(1) | $- | $ 342,201 | $- | $ 342,201 | ||||||||
Total Assets | $11,949,988 | $ 5,035,126 | $- | $16,985,114 | ||||||||
| ||||||||||||
Sextant Global High Income | ||||||||||||
Common Stocks | ||||||||||||
Communications | $ 675,875 | $- | $- | $ 675,875 | ||||||||
Energy | $ 537,650 | $- | $- | $ 537,650 | ||||||||
Financials | $ 472,215 | $ 248,623 | $- | $ 720,838 | ||||||||
Health Care | $ 413,150 | $- | $- | $ 413,150 | ||||||||
Industrials | $- | $ 106,455 | $- | $ 106,455 | ||||||||
Materials | $ 568,480 | $- | $- | $ 568,480 | ||||||||
Technology | $ 333,500 | $- | $- | $ 333,500 | ||||||||
Total Common Stocks | $ 3,000,870 | $ 355,078 | $- | $ 3,355,948 | ||||||||
Corporate Bonds(1) | $- | $ 2,482,878 | $- | $ 2,482,878 | ||||||||
Government Bonds(1) | $- | $ 920,328 | $- | $ 920,328 | ||||||||
Municipal Bonds(1) | $- | $ 208,015 | $- | $ 208,015 | ||||||||
Warrants(1) | $- | $- | $- | $ - | ||||||||
Total Assets | $ 3,000,870 | $ 3,966,299 | $- | $ 6,967,169 | ||||||||
| ||||||||||||
Sextant Growth | ||||||||||||
Common Stocks(1) | $57,263,235 | $- | $- | $57,263,235 | ||||||||
Total Assets | $57,263,235 | $- | $- | $57,263,235 |
| ||||||||||||
Sextant International | ||||||||||||
Common Stocks | ||||||||||||
Communications | $3,991,500 | $- | $- | $ 3,991,500 | ||||||||
Consumer Discretionary | $5,842,950 | $ 516,779 | $- | $ 6,359,729 | ||||||||
Consumer Staples | $5,557,735 | $ 2,969,942 | $- | $ 8,527,677 | ||||||||
Health Care | $10,575,381 | $- | $- | $10,575,381 | ||||||||
Industrials | $ 191,040 | $- | $- | $ 191,040 | ||||||||
Materials | $ 5,853,140 | $- | $- | $ 5,853,140 | ||||||||
Technology | $30,956,616 | $ 9,227,028 | $- | $40,183,644 | ||||||||
Utilities | $- | $ 2,240,241 | $- | $ 2,240,241 | ||||||||
Total Assets | $62,968,362 | $14,953,990 | $- | $77,922,352 | ||||||||
| ||||||||||||
Sustainable Equity | ||||||||||||
Common Stocks | ||||||||||||
Communications | $ 39,860 | $- | $- | $ 39,860 | ||||||||
Consumer Discretionary | $ 1,914,223 | $- | $- | $ 1,914,223 | ||||||||
Consumer Staples | $ 1,348,240 | $- | $- | $ 1,348,240 | ||||||||
Energy | $- | $ 629,115 | $- | $ 629,115 | ||||||||
Financials | $ 530,175 | $ 395,642 | $- | $ 925,817 | ||||||||
Health Care | $ 1,429,455 | $ 181,408 | $- | $ 1,610,863 | ||||||||
Industrials | $ 733,639 | $ 656,497 | $- | $ 1,390,136 | ||||||||
Materials | $ 250,559 | $ 322,030 | $- | $ 572,589 | ||||||||
Technology | $ 3,629,357 | $ 341,629 | $- | $ 3,970,986 | ||||||||
Utilities | $- | $ 255,554 | $- | $ 255,554 | ||||||||
Total Assets | $ 9,875,508 | $2,781,875 | $- | $12,657,383 | ||||||||
| ||||||||||||
Sustainable Bond | ||||||||||||
Corporate Bonds(1) | $- | $17,302,524 | $- | $17,302,524 | ||||||||
Government Bonds(1) | $- | $10,034,678 | $- | $10,034,678 | ||||||||
Total Assets | $- | $27,337,202 | $- | $27,337,202 | ||||||||
| ||||||||||||
Idaho Tax-Exempt | ||||||||||||
Tax-Exempt Municipal Bonds(1) | $- | $13,210,414 | $- | $13,210,414 | ||||||||
Total Assets | $- | $13,210,414 | $- | $13,210,414 |
¹ | See Schedule of Investments for industry breakout. |
During the period ended August 31, 2020, no Fund had transfers between Level 1, Level 2 or Level 3.
Federal Income Taxes:
The aggregate unrealized security gains and losses based on costs of investments for U.S. federal income tax purposes at August 31, 2020, were as follows:
Federal income taxes
The cost basis of investments for federal income tax purposes at August 31, 2020, were as follows:
Short-Term Bond | Bond Income | Core | Global High Income | Growth | International | Sustainable Equity | Sustainable Bond | Idaho Tax-Exempt | ||||||||||||||||||||||||||||
Cost of investments | $ | 10,518,658 | $ | 10,876,950 | $ | 13,077,276 | $ | 7,104,973 | $ | 20,873,796 | $ | 35,548,767 | $ | 8,680,883 | $ | 26,511,903 | $ | 12,378,685 | ||||||||||||||||||
Gross tax unrealized appreciation | $ | 342,135 | $ | 1,498,632 | $ | 4,040,554 | $ | 687,780 | $ | 36,389,439 | $ | 42,399,631 | $ | 4,107,446 | $ | 1,374,091 | $ | 835,280 | ||||||||||||||||||
Gross tax unrealized depreciation | $ | (878 | ) | $ | (2,831 | ) | $ | (132,716 | ) | $ | (825,584 | ) | $ | - | $ | (26,046 | ) | $ | (130,946 | ) | $ | (548,792 | ) | $ | (3,551 | ) | ||||||||||
Net tax unrealized appreciation (depreciation) | $ | 341,257 | $ | 1,495,801 | $ | 3,907,838 | $ | (137,805 | ) | $ | 36,389,439 | $ | 42,373,585 | $ | 3,976,500 | $ | 825,300 | $ | 831,729 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
SATURNA INVESTMENT TRUST
By:
/s/ Jane K. Carten
Jane K. Carten, President and Chief Executive Officer
Date: October 29, 2020
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By:
/s/ Jane K. Carten
Jane K. Carten, President and Chief Executive Officer
Date: October 29, 2020
By:
/s/ Christopher Fankhauser
Christopher Fankhauser, Chief Financial Officer
Date: October 29, 2020
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