Saturna Investment Trust, Sextant Short-Term Bond Fund
Corporate Bonds – 59.9% | Coupon/Maturity | Face Amount | Market Value | Percentage of Net Assets | ||||
Consumer Discretionary
| ||||||||
Autozone | 3.25% due 04/15/2025 | $300,000 | $291,476 | 2.4% | ||||
VF | 2.40% due 04/23/2025 | 67,000 | 64,028 | 0.5% | ||||
355,504 | 2.9% | |||||||
Consumer Staples
| ||||||||
Church & Dwight | 2.875% due 10/01/2022 | 350,000 | 349,605 | 2.8% | ||||
Costco Wholesale | 2.75% due 05/18/2024 | 385,000 | 381,768 | 3.1% | ||||
Dollar General | 4.15% due 11/01/2025 | 300,000 | 298,745 | 2.4% | ||||
Procter & Gamble | 2.80% due 03/25/2027 | 200,000 | 192,894 | 1.6% | ||||
Walmart | 2.85% due 07/08/2024 | 325,000 | 320,472 | 2.6% | ||||
1,543,484 | 12.5% | |||||||
Financials
| ||||||||
Bank of America Corp | 3.50% due 04/19/2026 | 400,000 | 389,741 | 3.2% | ||||
JPMorgan Chase & Co | 3.30% due 04/01/2026 | 250,000 | 242,483 | 2.0% | ||||
Paypal Holdings | 2.65% due 10/01/2026 | 300,000 | 285,014 | 2.3% | ||||
Swiss Re America Holding | 7.00% due 02/15/2026 | 330,000 | 357,287 | 2.9% | ||||
Visa | 3.15% due 12/14/2025 | 350,000 | 342,354 | 2.8% | ||||
1,616,879 | 13.2% | |||||||
Health Care
| ||||||||
Gilead Sciences | 2.50% due 09/01/2023 | 400,000 | 395,094 | 3.2% | ||||
Johnson & Johnson | 2.45% due 03/01/2026 | 50,000 | 48,094 | 0.3% | ||||
443,188 | 3.5% | |||||||
Materials
| ||||||||
BHP Billiton Fin USA | 3.85% due 09/30/2023 | 50,000 | 50,064 | 0.4% | ||||
Carlisle Cos | 3.75% due 11/15/2022 | 100,000 | 99,940 | 0.8% | ||||
DuPont De Nemours | 4.493% due 11/15/2025 | 383,000 | 386,011 | 3.1% | ||||
Kinross Gold | 5.95% due 03/15/2024 | 250,000 | 254,516 | 2.1% | ||||
Mosaic | 4.25% due 11/15/2023 | 100,000 | 100,118 | 0.8% | ||||
890,649 | 7.2% | |||||||
Technology
| ||||||||
Microsoft | 2.375% due 05/01/2023 | 395,000 | 392,449 | 3.2% | ||||
Oracle Corp | 2.95% due 05/15/2025 | 225,000 | 215,796 | 1.7% | ||||
Qualcomm | 2.60% due 01/30/2023 | 400,000 | 398,897 | 3.2% | ||||
Take-Two Interactive SOF | 3.70% due 04/14/2027 | 250,000 | 240,942 | 2.0% | ||||
1,248,084 | 10.1% | |||||||
Utilities
| ||||||||
Edison International | 3.55% due 11/15/2024 | 350,000 | 342,314 | 2.8% | ||||
Exelon Generation | 3.25% due 06/01/2025 | 400,000 | 388,415 | 3.2% | ||||
Florida Power & Light | 2.85% due 04/01/2025 | 320,000 | 313,339 | 2.5% | ||||
PacifiCorp | 2.95% due 06/01/2023 | 250,000 | 248,235 | 2.0% | ||||
1,292,303 | 10.5% | |||||||
Total Corporate Bonds | (Cost $7,700,714) | $7,390,091 | 59.9% |
Government Bonds – 34.6% | ||||||||
Government Sponsored
| ||||||||
Federal Farm Credit Bank | 3.50% due 12/20/2023 | $200,000 | $199,992 | 1.6% | ||||
Federal Home Loan Bank | 3.375% due 12/08/2023 | 250,000 | 249,303 | 2.1% | ||||
449,295 | 3.7% | |||||||
United States Treasury Bills
| ||||||||
United States Cash Management Bill | 0.00% due 10/13/2022 | 728,000 | 726,034 | 5.9% | ||||
United States Cash Management Bill | 0.00% due 01/05/2023 | 300,000 | 296,881 | 2.4% | ||||
United States Cash Management Bill | 0.00% due 04/20/2023 | 300,000 | 294,138 | 2.4% | ||||
1,317,053 | 10.7% | |||||||
United States Treasury Notes
| ||||||||
United States Treasury Note | 2.50% due 08/15/2023 | 800,000 | 792,688 | 6.4% | ||||
United States Treasury Note | 2.25% due 10/31/2024 | 100,000 | 97,523 | 0.8% | ||||
United States Treasury Note | 2.875% due 04/30/2025 | 400,000 | 393,781 | 3.2% | ||||
United States Treasury Note | 2.625% due 12/31/2025 | 900,000 | 876,832 | 7.1% | ||||
United States Treasury Note | 2.375% due 05/15/2027 | 350,000 | 335,207 | 2.7% | ||||
2,496,031 | 20.2% | |||||||
Total Government Bonds | (Cost $4,393,795) | $4,262,379 | 34.6% | |||||
Total investments | (Cost $12,094,509) | $11,652,470 | 94.5% | |||||
Other assets (net of liabilities) | 674,976 | 5.5% | ||||||
| ||||||||
Total net assets | $12,327,446 | 100.0% |
Saturna Investment Trust, Sextant Bond Income Fund
Corporate Bonds – 64.9% | Coupon/Maturity | Face Amount | Market Value | Percentage of Net Assets | ||||
Consumer Discretionary
| ||||||||
Home Depot | 5.875% due 12/16/2036 | $300,000 | $337,987 | 3.3% | ||||
Lowe’s | 5.80% due 10/15/2036 | 250,000 | 258,008 | 2.6% | ||||
595,995 | 5.9% | |||||||
Consumer Staples
| ||||||||
Kimberly Clark | 5.30% due 03/01/2041 | 100,000 | 104,837 | 1.0% | ||||
Procter & Gamble | 5.50% due 02/01/2034 | 200,000 | 222,348 | 2.2% | ||||
Unilever Capital | 5.90% due 11/15/2032 | 200,000 | 226,557 | 2.2% | ||||
553,742 | 5.4% | |||||||
Energy
| ||||||||
Baker Hughes | 6.875% due 01/15/2029 | 100,000 | 108,992 | 1.1% | ||||
Canadian Natural Resources | 6.45% due 06/30/2033 | 225,000 | 238,155 | 2.4% | ||||
Statoil | 7.15% due 01/15/2029 | 224,000 | 258,780 | 2.5% | ||||
605,927 | 6.0% | |||||||
Financials
| ||||||||
Affiliated Managers Group | 3.50% due 08/01/2025 | 250,000 | 245,625 | 2.4% | ||||
Bank Of New York Mellon MTN | 3.30% due 08/23/2029 | 250,000 | 234,042 | 2.3% | ||||
Chubb Ina Holdings | 4.35% due 11/03/2045 | 100,000 | 94,343 | 0.9% | ||||
State Street(Quarterly US LIBOR plus 100)(1) | 2.82886% due 06/15/2047 | 100,000 | 76,792 | 0.8% | ||||
UBS AG Stamford CT | 7.75% due 09/01/2026 | 200,000 | 218,137 | 2.1% | ||||
868,939 | 8.5% | |||||||
Health Care
| ||||||||
Becton Dickinson | 6.70% due 08/01/2028 | 240,000 | 260,167 | 2.6% | ||||
Johnson & Johnson | 4.95% due 05/15/2033 | 226,000 | 245,644 | 2.4% | ||||
Johnson & Johnson | 5.85% due 07/15/2038 | 50,000 | 57,692 | 0.6% | ||||
Medtronic | 4.375% due 03/15/2035 | 260,000 | 258,886 | 2.5% | ||||
Merck & Co. | 6.50% due 12/01/2033 | 215,000 | 255,869 | 2.5% | ||||
1,078,258 | 10.6% | |||||||
Industrials
| ||||||||
Burlington Northern Santa Fe | 5.05% due 03/01/2041 | 310,000 | 317,910 | 3.1% | ||||
Deere & Co. | 8.10% due 05/15/2030 | 95,000 | 118,622 | 1.2% | ||||
United Technologies | 6.05% due 06/01/2036 | 250,000 | 277,781 | 2.7% | ||||
714,313 | 7.0% | |||||||
Materials
| ||||||||
Praxair | 3.55% due 11/07/2042 | 350,000 | 301,988 | 3.0% | ||||
301,988 | 3.0% | |||||||
Technology
| ||||||||
Apple | 4.50% due 02/23/2036 | 350,000 | 362,938 | 3.6% | ||||
Intel | 4.00% due 12/15/2032 | 360,000 | 347,682 | 3.4% | ||||
Microsoft | 4.20% due 11/03/2035 | 350,000 | 356,490 | 3.5% | ||||
Microsoft | 5.30% due 02/08/2041 | 50,000 | 56,679 | 0.5% | ||||
1,123,789 | 11.0% | |||||||
Utilities
| ||||||||
Alabama Power | 4.15% due 08/15/2044 | 200,000 | 178,143 | 1.8% | ||||
Entergy Louisiana | 5.40% due 11/01/2024 | 200,000 | 204,696 | 2.0% | ||||
Florida Power & Light | 5.95% due 10/01/2033 | 100,000 | 110,920 | 1.1% | ||||
Puget Sound Energy | 4.434% due 11/15/2041 | 300,000 | 269,410 | 2.6% | ||||
763,169 | 7.5% | |||||||
Total Corporate Bonds | (Cost $7,280,872) | $6,606,120 | 64.9% | |||||
Government Bonds – 27.1% | ||||||||
Foreign Government Bonds
| ||||||||
Quebec Canada Yankee | 7.125% due 02/09/2024 | $175,000 | $182,987 | 1.8% | ||||
182,987 | 1.8% | |||||||
United States Treasury Bonds
| ||||||||
United States Treasury Bond | 5.25% due 02/15/2029 | 170,000 | 189,178 | 1.9% | ||||
United States Treasury Bond | 6.25% due 05/15/2030 | 75,000 | 90,486 | 0.9% | ||||
United States Treasury Bond | 3.125% due 11/15/2041 | 145,000 | 137,042 | 1.3% | ||||
United States Treasury Bond | 3.375% due 11/15/2048 | 560,000 | 557,222 | 5.5% | ||||
United States Treasury Bond | 6.125% due 08/15/2029 | 225,000 | 265,078 | 2.6% | ||||
United States Treasury Bond | 5.375% due 02/15/2031 | 400,000 | 464,438 | 4.6% | ||||
United States Treasury Bond | 4.25% due 05/15/2039 | 770,000 | 866,942 | 8.5% | ||||
2,570,386 | 25.3% | |||||||
Total Government Bonds | (Cost $3,161,413) | $2,753,373 | 27.1% | |||||
Municipal Bonds – 1.6% | ||||||||
Municipal Leases
| ||||||||
Oklahoma City Fin Auth Ed Lease Rev | 6.60% due 09/01/2022 | $160,000 | $160,000 | 1.6% | ||||
Total Municipal Bonds | (Cost $160,000) | $160,000 | 1.6% | |||||
Total investments | (Cost $10,602,285) | $9,519,493 | 93.6% | |||||
Other assets (net of liabilities) | 656,509 | 6.4% | ||||||
| ||||||||
Total net assets | $10,176,002 | 100.0% |
(1) | Variable rate security. The interest rate represents the rate in effect at August 31, 2022 and resets periodically based on the parenthetically disclosed reference rate and spread. |
Saturna Investment Trust, Sextant Core Fund
Common Stocks – 53.2% | Number of Shares | | Market Value |
| Country(1) | Percentage of Net Assets | ||||
Communications
| ||||||||||
Internet Media | ||||||||||
Alphabet, Class A(2) | 2,000 | $216,440 | United States | 1.2% | ||||||
Telecom Carriers | ||||||||||
BCE | 4,000 | 192,800 | Canada | 1.1% | ||||||
Telus | 8,000 | 180,160 | Canada | 1.0% | ||||||
372,960 | 2.1% | |||||||||
589,400 | 3.3% | |||||||||
Consumer Discretionary
| ||||||||||
Apparel, Footwear & Accessory Design | ||||||||||
VF | 2,800 | 116,060 | United States | 0.6% | ||||||
Home Products Stores | ||||||||||
Home Depot | 600 | 173,052 | United States | 1.0% | ||||||
Lowe’s | 1,400 | 271,796 | United States | 1.5% | ||||||
444,848 | 2.5% | |||||||||
Specialty Apparel Stores | ||||||||||
Ross Stores | 1,650 | 142,346 | United States | 0.8% | ||||||
TJX Companies | 2,200 | 137,170 | United States | 0.7% | ||||||
279,516 | 1.5% | |||||||||
840,424 | 4.6% | |||||||||
Consumer Staples
| ||||||||||
Beverages | ||||||||||
PepsiCo | 1,250 | 215,337 | United States | 1.2% | ||||||
Household Products | ||||||||||
Procter & Gamble | 1,150 | 158,631 | United States | 0.9% | ||||||
Packaged Food | ||||||||||
Nestle ADR | 1,900 | 222,414 | Switzerland | 1.2% | ||||||
596,382 | 3.3% | |||||||||
Energy
| ||||||||||
Exploration & Production | ||||||||||
ConocoPhillips | 4,000 | 437,800 | United States | 2.4% | ||||||
Integrated Oils | ||||||||||
Shell Plc ADR | 5,100 | 270,198 | Netherlands | 1.5% | ||||||
Refining & Marketing | ||||||||||
Phillips 66 | 1,100 | 98,406 | United States | 0.6% | ||||||
806,404 | 4.5% | |||||||||
Financials
| ||||||||||
Consumer Finance | ||||||||||
Mastercard, Class A | 500 | 162,185 | United States | 0.9% | ||||||
Visa | 900 | 178,839 | United States | 1.0% | ||||||
341,024 | 1.9% | |||||||||
Institutional Brokerage | ||||||||||
Virtu Financial | 9,000 | 206,640 | United States | 1.1% | ||||||
P&C Insurance | ||||||||||
Chubb | 810 | 153,131 | Switzerland | 0.9% | ||||||
700,795 | 3.9% | |||||||||
Health Care
| ||||||||||
Large Pharma | ||||||||||
Bristol-Myers Squibb | 4,000 | 269,640 | United States | 1.5% | ||||||
Johnson & Johnson | 1,515 | 244,430 | United States | 1.4% | ||||||
Novo Nordisk ADR | 2,450 | 259,945 | Denmark | 1.4% | ||||||
Pfizer | 4,100 | 185,443 | United States | 1.0% | ||||||
Roche Holding AG - Genusschein | 500 | 161,377 | Switzerland | 0.9% | ||||||
1,120,835 | 6.2% | |||||||||
Managed Care | ||||||||||
UnitedHealth Group | 300 | 155,799 | United States | 0.9% | ||||||
Medical Devices | ||||||||||
Abbott Laboratories | 2,700 | 277,155 | United States | 1.5% | ||||||
1,553,789 | 8.6% |
Industrials
| ||||||||||
Commercial & Residential Building Equipment & Systems | ||||||||||
Honeywell International | 1,000 | 189,350 | United States | 1.0% | ||||||
Johnson Controls International | 5,350 | 289,649 | United States | 1.6% | ||||||
478,999 | 2.6% | |||||||||
Electrical Power Equipment | ||||||||||
Eaton | 2,000 | 273,280 | United States | 1.5% | ||||||
Flow Control Equipment | ||||||||||
Parker Hannifin | 800 | 212,000 | United States | 1.2% | ||||||
Industrial Distribution & Rental | ||||||||||
Fastenal | 2,800 | 140,924 | United States | 0.8% | ||||||
Industrial Machinery | ||||||||||
Illinois Tool Works | 525 | 102,286 | United States | 0.6% | ||||||
Rail Freight | ||||||||||
Canadian National Railway | 2,000 | 237,820 | Canada | 1.3% | ||||||
Canadian Pacific Railway | 2,018 | 151,067 | Canada | 0.8% | ||||||
388,887 | 2.1% | |||||||||
Waste Management | ||||||||||
Republic Services | 950 | 135,584 | United States | 0.8% | ||||||
1,731,960 | 9.6% | |||||||||
Materials
| ||||||||||
Basic & Diversified Chemicals | ||||||||||
Linde | 1,000 | 282,860 | Ireland | 1.6% | ||||||
Precious Metal Mining | ||||||||||
Barrick Gold | 10,000 | 148,500 | Canada | 0.8% | ||||||
Newmont | 4,000 | 165,440 | United States | 0.9% | ||||||
313,940 | 1.7% | |||||||||
Specialty Chemicals | ||||||||||
RPM International | 1,400 | 130,424 | United States | 0.7% | ||||||
727,224 | 4.0% | |||||||||
Technology
| ||||||||||
Communications Equipment | ||||||||||
Apple | 2,300 | 361,606 | United States | 2.0% | ||||||
Motorola Solutions | 770 | 187,425 | United States | 1.0% | ||||||
549,031 | 3.0% | |||||||||
Consumer Electronics | ||||||||||
Sony ADR | 1,900 | 150,765 | Japan | 0.8% | ||||||
Infrastructure Software | ||||||||||
Microsoft | 800 | 209,176 | United States | 1.2% | ||||||
Oracle | 3,100 | 229,865 | United States | 1.2% | ||||||
439,041 | 2.4% | |||||||||
Semiconductor Devices | ||||||||||
Infineon Technologies ADR | 4,775 | 117,131 | Germany | 0.6% | ||||||
Micron Technology(2) | 1,400 | 79,142 | United States | 0.4% | ||||||
NXP Semiconductors | 950 | 156,351 | Netherlands | 0.9% | ||||||
Qualcomm | 600 | 79,362 | United States | 0.5% | ||||||
431,986 | 2.4% | |||||||||
1,570,823 | 8.6% | |||||||||
Utilities
| ||||||||||
Integrated Utilities | ||||||||||
Duke Energy | 1,600 | 171,056 | United States | 0.9% | ||||||
NextEra Energy | 4,000 | 340,240 | United States | 1.9% | ||||||
511,296 | 2.8% | |||||||||
Total Common Stocks | (Cost $5,991,914) | $9,628,497 | 53.2% |
Corporate Bonds – 23.0% | Coupon/Maturity | | Face Amount | | Market Value | Percentage of Net Assets | ||||
Communications
| ||||||||||
Bellsouth Capital Funding | 7.875% due 02/15/2030 | $150,000 | $174,014 | 0.9% | ||||||
Comcast | 5.65% due 06/15/2035 | 300,000 | 322,088 | 1.8% | ||||||
Walt Disney | 6.40% due 12/15/2035 | 250,000 | 288,586 | 1.6% | ||||||
784,688 | 4.3% | |||||||||
Consumer Discretionary
| ||||||||||
Expedia Group | 5.00% due 02/15/2026 | 250,000 | 250,852 | 1.4% | ||||||
Lowe’s | 4.25% due 09/15/2044 | 250,000 | 207,388 | 1.1% | ||||||
Stanford University | 4.013% due 05/01/2042 | 100,000 | 94,568 | 0.6% | ||||||
552,808 | 3.1% | |||||||||
Consumer Staples
| ||||||||||
Coca Cola | 1.00% due 03/15/2028 | 250,000 | 215,922 | 1.2% | ||||||
Financials
| ||||||||||
Charles Schwab | 3.00% due 03/10/2025 | 300,000 | 293,527 | 1.6% | ||||||
Welltower | 4.25% due 04/15/2028 | 350,000 | 341,326 | 1.9% | ||||||
634,853 | 3.5% | |||||||||
Health Care
| ||||||||||
Cardinal Health | 3.50% due 11/15/2024 | 155,000 | 153,929 | 0.8% | ||||||
Gilead Sciences | 3.70% due 04/01/2024 | 250,000 | 249,538 | 1.4% | ||||||
403,467 | 2.2% |
Industrials
| ||||||||||
Burlington Nothern Santa Fe | 6.20% due 08/15/2036 | 150,000 | 172,311 | 1.0% | ||||||
CSX Corp | 4.65% due 03/01/2068 | 300,000 | 277,022 | 1.5% | ||||||
Fedex | 3.90% due 02/01/2035 | 250,000 | 226,940 | 1.3% | ||||||
Legrand France Yankee | 8.50% due 02/15/2025 | 170,000 | 187,177 | 1.0% | ||||||
Union Pacific | 3.375% due 02/01/2035 | 250,000 | 222,581 | 1.2% | ||||||
1,086,031 | 6.0% | |||||||||
Technology
| ||||||||||
Qualcomm | 3.25% due 05/20/2027 | 220,000 | 215,066 | 1.2% | ||||||
Utilities
| ||||||||||
Pacificorp | 6.00% due 01/15/2039 | 250,000 | 273,586 | 1.5% | ||||||
Total Corporate Bonds | (Cost $4,571,178) |
| $4,166,421 | 23.0% | ||||||
Government Bonds – 16.1% | ||||||||||
United States Treasury Bills
| ||||||||||
United States Treasury Bill | 0.00% due 09/29/2022 | $250,000 | $249,587 | 1.4% | ||||||
United States Treasury Bill | 0.00% due 10/13/2022 | 500,000 | 498,649 | 2.8% | ||||||
United States Treasury Bill | 0.00% due 01/26/2023 | 250,000 | 246,925 | 1.3% | ||||||
995,161 | 5.5% | |||||||||
United States Treasury Bonds
| ||||||||||
United States Treasury Bond | 6.25% due 08/15/2023 | 438,000 | 449,737 | 2.5% | ||||||
United States Treasury Bond | 4.50% due 02/15/2036 | 137,000 | 158,401 | 0.9% | ||||||
United States Treasury Bond | 3.625% due 02/15/2044 | 155,000 | 156,096 | 0.8% | ||||||
764,234 | 4.2% | |||||||||
United States Treasury Notes
| ||||||||||
United States Treasury Note | 2.75% due 11/15/2023 | 350,000 | 347,115 | 1.9% | ||||||
United States Treasury Note | 2.00% due 05/31/2024 | 80,000 | 78,050 | 0.4% | ||||||
United States Treasury Note | 1.125% due 01/15/2025 | 400,000 | 378,813 | 2.1% | ||||||
United States Treasury Note | 2.00% due 11/30/2022 | 250,000 | 249,486 | 1.4% | ||||||
United States Treasury Note | 1.625% due 04/30/2023 | 106,000 | 104,803 | 0.6% | ||||||
1,158,267 | 6.4% | |||||||||
Total Government Bonds | (Cost $2,957,829) |
| $2,917,662 | 16.1% | ||||||
Municipal Bonds – 1.2% | ||||||||||
General Obligation
| ||||||||||
Skagit SD #1 | 4.613% due 12/01/2022 | $100,000 | $100,059 | 0.6% | ||||||
Utility Networks
| ||||||||||
Tacoma WA Elec Sys Revenue | 5.966% due 01/01/2035 | 100,000 | 113,174 | 0.6% | ||||||
Total Municipal Bonds | (Cost $219,384) |
| $213,233 | 1.2% | ||||||
Total investments | (Cost $13,740,305) |
| $16,925,813 | 93.5% | ||||||
Other Assets (net of liabilities) | 1,177,387 | 6.5% | ||||||||
| ||||||||||
Total net assets | $18,103,200 | 100.0% |
(1) | Country of domicile |
(2) | Non-income producing |
ADR: American Depositary Receipt
Saturna Investment Trust, Sextant Global High Income Fund
Common Stocks – 44.8% | Number of Shares | Market Value | Country(1) | Percentage of Net Assets | ||||||
Communications
| ||||||||||
Entertainment Content | ||||||||||
Warner Bros Discovery(2) | 1,814 | $24,017 | United States | 0.3% | ||||||
Telecom Carriers | ||||||||||
AT&T | 7,500 | 131,550 | United States | 1.5% | ||||||
Orange ADR | 20,000 | 201,800 | France | 2.3% | ||||||
SK Telecom ADR | 6,073 | 129,659 | South Korea | 1.5% | ||||||
Telenor ASA | 12,000 | 131,497 | Norway | 1.5% | ||||||
Verizon Communications | 5,000 | 209,050 | United States | 2.4% | ||||||
803,556 | 9.2% | |||||||||
827,573 | 9.5% | |||||||||
Consumer Discretionary
| ||||||||||
Automobiles | ||||||||||
Volkswagen AG | 1,500 | 213,486 | Germany | 2.4% | ||||||
Consumer Staples
| ||||||||||
Household Products | ||||||||||
Haleon Plc ADR(2) | 5,000 | 29,900 | United Kingdom | 0.3% | ||||||
Energy | ||||||||||
Exploration & Production | ||||||||||
Woodside Energy Group | 1,987 | 45,323 | Australia | 0.5% | ||||||
Integrated Oils | ||||||||||
Shell Plc ADR | 3,800 | 201,324 | Netherlands | 2.3% | ||||||
Total ADR | 3,800 | 191,938 | France | 2.2% | ||||||
393,262 | 4.5% | |||||||||
438,585 | 5.0% | |||||||||
Financials
| ||||||||||
Banks | ||||||||||
Skandinaviska Enskilda Banken, Class A | 25,000 | 249,845 | Sweden | 2.8% | ||||||
Institutional Brokerage | ||||||||||
Virtu Financial | 7,500 | 172,200 | United States | 2.0% | ||||||
Investment Companies | ||||||||||
ICAHN Enterprises Depositary Unit | 3,000 | 154,950 | United States | 1.8% | ||||||
576,995 | 6.6% | |||||||||
Health Care
| ||||||||||
Large Pharma | ||||||||||
GlaxoSmithKline ADR | 4,000 | 129,920 | United Kingdom | 1.5% | ||||||
Novartis ADR | 2,500 | 201,300 | Switzerland | 2.3% | ||||||
331,220 | 3.8% | |||||||||
Materials
| ||||||||||
Base Metals | ||||||||||
Norsk Hydro ASA | 25,000 | 172,015 | Norway | 2.0% | ||||||
South32 ADR | 19,000 | 265,050 | Australia | 3.0% | ||||||
Southern Copper | 3,500 | 164,745 | Peru | 1.9% | ||||||
601,810 | 6.9% | |||||||||
Steel Raw Material Suppliers | ||||||||||
BHP Biliton ADR | 5,500 | 301,895 | Australia | 3.4% | ||||||
903,705 | 10.3% | |||||||||
Technology
| ||||||||||
Communications Equipment | ||||||||||
Cisco Systems | 5,000 | 223,600 | United States | 2.5% | ||||||
Consumer Electronics | ||||||||||
Nintendo | 500 | 205,116 | Japan | 2.3% | ||||||
Infrastructure Software | ||||||||||
Micro Focus International ADR | 30,000 | 180,900 | United Kingdom | 2.1% | ||||||
609,616 | 6.9% | |||||||||
Total Common Stocks | (Cost $4,182,834) | $3,931,080 | 44.8% | |||||||
Corporate Bonds – 31.6% | Coupon/Maturity | Face Amount | Market Value | Country(1) | Percentage of Net Assets | |||||
Communications
| ||||||||||
Comcast | 4.65% due 07/15/2042 | $250,000 | $236,530 | United States | 2.7% | |||||
Netflix | 4.375% due 11/15/2026 | 250,000 | 242,500 | United States | 2.8% | |||||
479,030 | 5.5% | |||||||||
Consumer Discretionary
| ||||||||||
ADT | 4.125% due 06/15/2023 | 150,000 | 148,125 | United States | 1.6% | |||||
Delta Air Lines | 3.75% due 10/28/2029 | 250,000 | 203,033 | United States | 2.3% | |||||
Ford Motor | 6.375% due 02/01/2029 | 220,000 | 225,500 | United States | 2.6% | |||||
MDC Holdings | 3.85% due 01/15/2030 | 200,000 | 164,011 | United States | 1.9% | |||||
YUM! Brands | 3.625% due 03/15/2031 | 195,000 | 164,229 | United States | 1.9% | |||||
904,898 | 10.3% | |||||||||
Consumer Staples
| ||||||||||
Grupo Bimbo(3) | 4.875% due 06/27/2044 | 200,000 | 187,114 | Mexico | 2.1% | |||||
Energy
| ||||||||||
Petrobras International Finance | 6.875% due 01/20/2040 | 50,000 | 49,125 | Brazil | 0.6% | |||||
Petrobras International Finance | 6.75% due 01/27/2041 | 80,000 | 78,520 | Brazil | 0.9% | |||||
127,645 | 1.5% | |||||||||
Financials
| ||||||||||
Lincoln National Corp(Quarterly US LIBOR plus 2.04%)(4) | 4.74986% due 04/20/2067 | 250,000 | 186,617 | United States | 2.1% | |||||
Royal Bank of Scotland | 6.125% due 12/15/2022 | 200,000 | 201,036 | United Kingdom | 2.3% | |||||
387,653 | 4.4% | |||||||||
Industrials
| ||||||||||
Burlington Northern Santa Fe | 5.05% due 03/01/2041 | 200,000 | 205,103 | United States | 2.4% | |||||
CSX Corp | 4.65% due 03/01/2068 | 250,000 | 230,852 | United States | 2.6% | |||||
Norfolk Southern Corp | 5.10% due 08/01/2118 | 275,000 | 247,495 | United States | 2.8% | |||||
683,450 | 7.8% | |||||||||
Total Corporate Bonds | (Cost $3,116,218) | $2,769,790 | 31.6% | |||||||
Government Bonds – 13.9% | ||||||||||
Foreign Government Bonds
| ||||||||||
Colombia Republic | 8.375% due 02/15/2027 | $125,000 | $139,001 | Colombia | 1.6% | |||||
Federal Republic of Brazil | 8.50% due 01/05/2024 | BRL 750,000 | 134,007 | Brazil | 1.5% | |||||
Republic of Argentina | 1.00% due 07/09/2029 | 9,276 | 2,149 | Argentina | 0.0%(5) | |||||
Republic of Argentina | 0.125% due 07/09/2046 | 242,500 | 55,396 | Argentina | 0.7% | |||||
330,553 | 3.8% | |||||||||
United States Treasury Bills
| ||||||||||
United States Treasury Bill | 0.00% due 10/13/2022 | 400,000 | 398,920 | United States | 4.5% | |||||
United States Treasury Bill | 0.00% due 01/26/2023 | 500,000 | 493,849 | United States | 5.6% | |||||
892,769 | 10.1% | |||||||||
Total Government Bonds | (Cost $1,497,138) | $1,223,322 | 13.9% | |||||||
Municipal Bonds – 0.6%
| ||||||||||
Real Estate | ||||||||||
Colony TX NFM Sales Tax Revenue | 7.625% due 10/01/2042 | 50,000 | 51,388 | United States | 0.6% | |||||
Total Municipal Bonds | (Cost $50,174) | $51,388 | 0.6% | |||||||
Total investments | (Cost $8,846,364) | $7,975,580 | 90.9% | |||||||
Other assets (net of liabilities) | 798,383 | 9.1% | ||||||||
| ||||||||||
Total net assets | $8,773,963 | 100.0% |
(1) Denotes a country or region of primary exposure
(2) Non-income producing
(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, 2022, the aggregate value of these securities was $187,114 representing 2.1% of net assets.
(4) Variable rate security. The interest rate represents the rate in effect at August 31, 2022 and resets periodically based on the parenthetically disclosed reference rate and spread.
(5) Less than 0.05%
ADR: American Depositary Receipt
BRL: Brazilian Real
Saturna Investment Trust, Sextant Growth Fund
Common Stocks – 97.7% | Number of Shares | Market Value | Percentage of Net Assets | |||
Communications
| ||||||
Internet Media | ||||||
Alphabet, Class A(1) | 31,680 | $3,428,410 | 6.4% | |||
Consumer Discretionary
| ||||||
Apparel, Footwear & Accessory Design | ||||||
Nike, Class B | 10,276 | 1,093,880 | 2.0% | |||
E-Commerce Discretionary | ||||||
Amazon.com(1) | 26,980 | 3,420,255 | 6.3% | |||
Home Improvement | ||||||
Stanley Black & Decker | 9,600 | 845,760 | 1.6% | |||
Home Products Stores | ||||||
Lowe’s | 11,200 | 2,174,368 | 4.0% | |||
Other Commercial Services | ||||||
Ecolab | 2,850 | 466,915 | 0.9% | |||
Specialty Apparel Stores | ||||||
Lululemon Athletica(1) | 2,000 | 599,920 | 1.1% | |||
TJX Companies | 19,000 | 1,184,650 | 2.2% | |||
1,784,570 | 3.3% | |||||
9,785,748 | 18.1% | |||||
Consumer Staples
| ||||||
Beverages | ||||||
Monster Beverage | 16,100 | 1,430,163 | 2.6% | |||
Mass Merchants | ||||||
Costco Wholesale | 3,509 | 1,832,049 | 3.4% | |||
3,262,212 | 6.0% | |||||
Financials
| ||||||
Banks | ||||||
PNC Financial Services Group | 6,800 | 1,074,400 | 2.0% | |||
Consumer Finance | ||||||
Mastercard, Class A | 8,914 | 2,891,434 | 5.4% | |||
Paypal(1) | 12,000 | 1,121,280 | 2.0% | |||
4,012,714 | 7.4% | |||||
5,087,114 | 9.4% |
Health Care
| ||||||
Managed Care | ||||||
Elevance Health | 1,800 | 873,198 | 1.6% | |||
Medical Devices | ||||||
Abbott Laboratories | 20,799 | 2,135,017 | 4.0% | |||
Edwards Lifesciences(1) | 10,500 | 946,050 | 1.7% | |||
Stryker | 5,000 | 1,026,000 | 1.9% | |||
4,107,067 | 7.6% | |||||
Specialty Pharma | ||||||
Horizon Therapeutics(1) | 18,000 | 1,065,780 | 2.0% | |||
6,046,045 | 11.2% | |||||
Industrials
| ||||||
Commercial & Residential Building Equipment & Systems | ||||||
Johnson Controls International | 22,500 | 1,218,150 | 2.3% | |||
Measurement Instruments | ||||||
Trimble(1) | 17,000 | 1,075,250 | 2.0% | |||
2,293,400 | 4.3% | |||||
Materials
| ||||||
Agricultural Chemicals | ||||||
Corteva | 27,500 | 1,689,325 | 3.1% | |||
Specialty Chemicals | ||||||
RPM International | 18,000 | 1,676,880 | 3.1% | |||
3,366,205 | 6.2% | |||||
Technology | ||||||
Application Software | ||||||
Adobe(1) | 4,810 | 1,796,247 | 3.3% | |||
Take-Two Interactive Software(1) | 9,000 | 1,103,040 | 2.0% | |||
Tyler Technologies(1) | 3,000 | 1,114,530 | 2.1% | |||
4,013,817 | 7.4% | |||||
Communications Equipment | ||||||
Apple | 35,500 | 5,581,310 | 10.3% | |||
Motorola Solutions | 6,000 | 1,460,460 | 2.8% | |||
7,041,770 | 13.1% | |||||
Infrastructure Software | ||||||
Microsoft | 18,920 | 4,947,012 | 9.2% | |||
Oracle | 17,500 | 1,297,625 | 2.4% | |||
6,244,637 | 11.6% | |||||
Semiconductor Devices | ||||||
NVIDIA | 2,900 | 437,726 | 0.8% | |||
Qualcomm | 4,700 | 621,669 | 1.2% | |||
Texas Instruments | 6,600 | 1,090,386 | 2.0% | |||
2,149,781 | 4.0% | |||||
19,450,005 | 36.1% | |||||
Total investments | (Cost $25,329,148) | $52,719,139 | 97.7% | |||
Other assets (net of liabilities) | 1,221,899 | 2.3% | ||||
| ||||||
Total net assets | $53,941,038 | 100.0% |
(1) Non-income producing
Saturna Investment Trust, Sextant International Fund
Common Stocks – 90.2% | Number of Shares | Market Value | Country(1) | Percentage of Net Assets | ||||
Communications
| ||||||||
Telecom Carriers | ||||||||
Telus | 78,000 | $1,756,560 | Canada | 3.2% | ||||
Consumer Discretionary
| ||||||||
Apparel, Footwear & Accessory Design | ||||||||
Hermes International | 500 | 640,766 | France | 1.2% | ||||
E-Commerce Discretionary | ||||||||
MercadoLibre(2) | 3,400 | 2,908,224 | Argentina | 5.4% | ||||
Specialty Apparel Stores | ||||||||
Lululemon Athletica(2) | 3,500 | 1,049,860 | United States | 1.9% | ||||
4,598,850 | 8.5% | |||||||
Consumer Staples
| ||||||||
Household Products | ||||||||
L’Oreal | 2,000 | 687,299 | France | 1.3% | ||||
Reckitt Benckiser Group | 12,000 | 927,456 | United Kingdom | 1.7% | ||||
Unilever ADR | 13,000 | 590,070 | United Kingdom | 1.1% | ||||
2,204,825 | 4.1% | |||||||
Packaged Food | ||||||||
Danone SA | 20,000 | 1,053,035 | France | 1.9% | ||||
3,257,860 | 6.0% | |||||||
Energy
| ||||||||
Integrated Oils | ||||||||
TotalEnergies ADR | 5,000 | 252,550 | France | 0.5% | ||||
Health Care
| ||||||||
Large Pharma | ||||||||
Novartis ADR | 15,600 | 1,256,112 | Switzerland | 2.3% | ||||
Novo Nordisk ADR | 32,300 | 3,427,030 | Denmark | 6.3% | ||||
Roche Holding AG - Genusschein | 3,600 | 1,161,912 | Switzerland | 2.2% | ||||
5,845,054 | 10.8% | |||||||
Medical Equipment | ||||||||
Alcon | 25,000 | 1,642,000 | Switzerland | 3.0% | ||||
Siemens Healthineers AG | 20,000 | 977,907 | Germany | 1.8% | ||||
2,619,907 | 4.8% | |||||||
8,464,961 | 15.6% | |||||||
Industrials
| ||||||||
Commercial & Residential Building Equipment & Systems | ||||||||
Legrand | 14,000 | 1,013,571 | France | 1.9% | ||||
NIBE Industrier AB Class B | 34,000 | 319,203 | Sweden | 0.6% | ||||
1,332,774 | 2.5% | |||||||
Infrastructure Construction | ||||||||
Alfen Beheer BV(2) | 2,700 | 305,410 | Netherlands | 0.5% | ||||
Rail Freight | ||||||||
Canadian National Railway | 10,000 | 1,189,100 | Canada | 2.2% | ||||
2,827,284 | 5.2% |
Materials
| ||||||||
Basic & Diversified Chemicals | ||||||||
Linde | 5,500 | 1,555,730 | Ireland | 2.9% | ||||
Precious Metal Mining | ||||||||
Barrick Gold | 25,000 | 371,250 | Canada | 0.7% | ||||
Specialty Chemicals | ||||||||
DSM Koninklijke | 3,500 | 446,571 | Netherlands | 0.8% | ||||
Johnson Matthey | 45,000 | 1,051,606 | United Kingdom | 1.9% | ||||
1,498,177 | 2.7% | |||||||
Steel Raw Material Suppliers | ||||||||
BHP Biliton ADR | 6,000 | 329,340 | Australia | 0.6% | ||||
Rio Tinto ADR | 32,800 | 1,846,312 | United Kingdom | 3.4% | ||||
2,175,652 | 4.0% | |||||||
5,600,809 | 10.3% | |||||||
Technology
| ||||||||
Application Software | ||||||||
Dassault Systemes ADR | 78,215 | 3,023,010 | France | 5.6% | ||||
NICE Systems ADR | 17,010 | 3,629,423 | Israel | 6.7% | ||||
6,652,433 | 12.3% | |||||||
Consumer Electronics | ||||||||
Nintendo | 3,400 | 1,394,791 | Japan | 2.5% | ||||
Sony ADR | 25,000 | 1,983,750 | Japan | 3.7% | ||||
3,378,541 | 6.2% | |||||||
Electronics Components | ||||||||
Varta AG | 3,200 | 224,637 | Germany | 0.4% | ||||
Information Services | ||||||||
Experian | 18,000 | 547,113 | United States | 1.0% | ||||
Wolters Kluwer | 41,000 | 4,011,903 | Netherlands | 7.4% | ||||
4,559,016 | 8.4% | |||||||
IT Services | ||||||||
Accenture, Class A | 8,100 | 2,336,526 | Ireland | 4.3% | ||||
Semiconductor Manufacturing | ||||||||
ASML | 5,725 | 2,804,907 | Netherlands | 5.2% | ||||
19,956,060 | 36.8% | |||||||
Utilities
| ||||||||
Power Generation | ||||||||
Iberdrola | 89,851 | 936,061 | Spain | 1.7% | ||||
Northland Power | 38,000 | 1,311,000 | Canada | 2.4% | ||||
2,247,061 | 4.1% | |||||||
Total investments | (Cost $29,710,494) | $48,961,995 | 90.2% | |||||
Other assets | 5,336,032 | 9.8% | ||||||
Total net assets | $54,298,027 | 100.0% |
(1) Country of domicile
(2) Non-income producing
ADR: American Depositary Receipt
Saturna Investment Trust, Saturna Sustainable Equity Fund
Common Stocks – 88.3% | Number of Shares | Market Value | Country(1) | Percentage of Net Assets | ||||
Communications
| ||||||||
Entertainment Content | ||||||||
Walt Disney Company(2) | 2,600 | $291,408 | United States | 1.5% | ||||
Consumer Discretionary
| ||||||||
Apparel, Footwear & Accessory Design | ||||||||
adidas ADR | 4,395 | 326,021 | Germany | 1.7% | ||||
Home Products Stores | ||||||||
Home Depot | 1,500 | 432,630 | United States | 2.3% | ||||
Lowe’s | 2,400 | 465,936 | United States | 2.4% | ||||
Tractor Supply | 2,500 | 462,875 | United States | 2.4% | ||||
1,361,441 | 7.1% | |||||||
Other Commercial Services | ||||||||
Ecolab | 1,500 | 245,745 | United States | 1.3% | ||||
Restaurants | ||||||||
Starbucks | 3,213 | 270,117 | United States | 1.4% | ||||
Specialty Apparel Stores | ||||||||
TJX Companies | 5,000 | 311,750 | United States | 1.7% | ||||
2,515,074 | 13.2% | |||||||
Consumer Staples
| ||||||||
Household Products | ||||||||
Haleon Plc ADR(2) | 11,500 | 68,770 | United Kingdom | 0.4% | ||||
L’Oreal ADR | 5,400 | 371,412 | France | 1.9% | ||||
Reckitt Benckiser Group ADR | 33,400 | 522,042 | United Kingdom | 2.7% | ||||
Unicharm ADR | 40,500 | 281,070 | Japan | 1.5% | ||||
Unilever ADR | 6,600 | 299,574 | United Kingdom | 1.6% | ||||
1,542,868 | 8.1% | |||||||
Packaged Food | ||||||||
Danone ADR | 31,200 | 326,352 | France | 1.7% | ||||
1,869,220 | 9.8% | |||||||
Energy
| ||||||||
Renewable Energy Equipment | ||||||||
Vestas Wind Systems | 11,000 | 275,398 | Denmark | 1.5% | ||||
Financials
| ||||||||
Consumer Finance | ||||||||
Mastercard, Class A | 860 | 278,958 | United States | 1.5% | ||||
Paypal | 2,900 | 270,976 | United States | 1.4% | ||||
549,934 | 2.9% | |||||||
Life Insurance | ||||||||
Aviva ADR | 45,600 | 439,128 | United Kingdom | 2.3% | ||||
P&C Insurance | ||||||||
Chubb | 2,000 | 378,100 | Switzerland | 2.0% | ||||
1,367,162 | 7.2% |
Health Care
| ||||||||
Biotech | ||||||||
BioNTech(2) | 800 | 115,712 | Germany | 0.6% | ||||
Large Pharma | ||||||||
GlaxoSmithKline ADR | 9,200 | 298,816 | United Kingdom | 1.6% | ||||
Johnson & Johnson | 2,300 | 371,082 | United States | 1.9% | ||||
Novartis ADR | 4,300 | 346,236 | Switzerland | 1.8% | ||||
Novo Nordisk ADR | 5,100 | 541,110 | Denmark | 2.8% | ||||
Pfizer | 8,000 | 361,840 | United States | 1.9% | ||||
Roche Holding ADR | 9,000 | 363,960 | Switzerland | 1.9% | ||||
2,283,044 | 11.9% | |||||||
Medical Equipment | ||||||||
Koninklijke Philips | 15,327 | 254,122 | Netherlands | 1.4% | ||||
2,652,878 | 13.9% | |||||||
Industrials
| ||||||||
Commercial & Residential Building Equipment & Systems | ||||||||
Assa Abloy ADR | 44,500 | 448,115 | Sweden | 2.3% | ||||
Legrand | 6,200 | 448,867 | France | 2.4% | ||||
896,982 | 4.7% | |||||||
Electrical Components | ||||||||
TE Connectivity | 3,200 | 403,872 | Switzerland | 2.1% | ||||
Electrical Power Equipment | ||||||||
Schneider Electric ADR | 17,100 | 405,954 | France | 2.1% | ||||
Siemens ADR | 5,300 | 270,035 | Germany | 1.4% | ||||
675,989 | 3.5% | |||||||
1,976,843 | 10.3% | |||||||
Materials
| ||||||||
Specialty Chemicals | ||||||||
DSM Koninklijke | 1,928 | 245,997 | Netherlands | 1.2% | ||||
Johnson Matthey | 21,031 | 491,474 | United Kingdom | 2.6% | ||||
Novozymes ADR | 6,550 | 374,922 | Denmark | 2.0% | ||||
1,112,393 | 5.8% | |||||||
Technology
| ||||||||
Application Software | ||||||||
Adobe(2) | 1,000 | 373,440 | United States | 2.0% | ||||
Dassault Systemes ADR | 7,530 | 291,035 | France | 1.5% | ||||
664,475 | 3.5% | |||||||
Communications Equipment | ||||||||
Apple | 4,000 | 628,880 | United States | 3.3% | ||||
Consumer Electronics | ||||||||
Nintendo ADR | 11,325 | 578,708 | Japan | 3.0% | ||||
Sony ADR | 4,000 | 317,400 | Japan | 1.7% | ||||
896,108 | 4.7% | |||||||
Electronics Components | ||||||||
Murata Manufacturing | 4,000 | 215,852 | Japan | 1.1% | ||||
Information Services | ||||||||
Wolters Kluwer | 5,000 | 489,256 | Netherlands | 2.6% | ||||
Infrastructure Software | ||||||||
Microsoft | 1,438 | 375,994 | United States | 2.0% | ||||
IT Services | ||||||||
Accenture, Class A | 1,600 | 461,536 | Ireland | 2.4% | ||||
CGI Group Class A(2) | 6,000 | 475,200 | Canada | 2.5% | ||||
936,736 | 4.9% | |||||||
Semiconductor Devices | ||||||||
NXP Semiconductors | 1,800 | 296,244 | Netherlands | 1.5% | ||||
STMicroelectronics | 3,900 | 136,110 | Switzerland | 0.7% | ||||
432,354 | 2.2% | |||||||
Semiconductor Manufacturing | ||||||||
Taiwan Semiconductor ADR | 1,825 | 152,113 | Taiwan | 0.8% | ||||
4,791,768 | 25.1% | |||||||
Total investments | (Cost $15,955,056) | $16,852,144 | 88.3% | |||||
Other assets (net of liabilities) | 2,243,653 | 11.7% | ||||||
| ||||||||
Total net assets | $19,095,797 | 100.0% |
(1) Country of domicile
(2) Non-income producing
ADR: American Depositary Receipt
Saturna Investment Trust, Saturna Sustainable Bond Fund
Corporate Bonds – 52.1% | Coupon/Maturity | Face Amount | Market Value | Country(1) | Percentage of Net Assets | |||||
Communications
| ||||||||||
Telecom Italia(2) | 5.303% due 05/30/2024 | $500,000 | $481,310 | Italy | 1.6% | |||||
Telfon Celular del Paraguay(3) | 5.875% due 04/15/2027 | 900,000 | 861,750 | Paraguay | 2.9% | |||||
Vodafone Group(4) | 7.00% due 04/04/2079 | 500,000 | 516,175 | United Kingdom | 1.7% | |||||
1,859,235 | 6.2% | |||||||||
Consumer Discretionary
| ||||||||||
Barry Callebaut(2) | 5.50% due 06/15/2023 | 500,000 | 501,422 | Belgium | 1.7% | |||||
Starbucks | 2.45% due 06/15/2026 | 250,000 | 237,225 | United States | 0.8% | |||||
738,647 | 2.5% | |||||||||
Consumer Staples
| ||||||||||
Coty(2) | 5.00% due 04/15/2026 | 250,000 | 236,875 | United States | 0.8% | |||||
Danone(2) | 2.589% due 11/02/2023 | 500,000 | 491,964 | France | 1.6% | |||||
Natura Cosmeticos SA(3) | 4.125% due 05/03/2028 | 250,000 | 206,813 | Brazil | 0.7% | |||||
935,652 | 3.1% | |||||||||
Financials
| ||||||||||
Aust & NZ Banking Group(2) | 4.50% due 03/19/2024 | 500,000 | 499,980 | Australia | 1.7% | |||||
AXA(3,5) | 5.125% due 01/17/2047 | 750,000 | 737,431 | France | 2.4% | |||||
Bank of Montreal | 3.30% due 02/05/2024 | 500,000 | 495,526 | Canada | 1.6% | |||||
Bank of New Zealand(3) | 3.648% due 11/16/2023 | NZD 500,000 | 302,626 | New Zealand | 1.0% | |||||
Bank of Nova Scotia | 4.90% due PERP | 750,000 | 710,698 | Canada | 2.4% | |||||
Canadian Imperial Bank(6) | 4.375% due 10/28/2080 | CAD 1,650,000 | 1,170,117 | Canada | 3.9% | |||||
Iron Mountain(2) | 5.25% due 07/15/2030 | 300,000 | 265,500 | United States | 0.8% | |||||
MAF Sukuk(3) | 4.638% due 05/14/2029 | 800,000 | 805,125 | United Arab Emirates | 2.7% | |||||
Prologis LP | 1.25% due 10/15/2030 | 200,000 | 160,107 | United States | 0.5% | |||||
Toronto-Dominion Bank(3) | 1.128% due 12/09/2025 | CAD 500,000 | 339,192 | Canada | 1.1% | |||||
Voya Financial(7) | 4.70% due 01/23/2048 | 400,000 | 331,818 | United States | 1.1% | |||||
WLB Asset II C PTE Ltd(2) | 3.90% due 12/23/2025 | 500,000 | 477,998 | Singapore | 1.6% | |||||
Women’s Livelihood Bond Asset II B(2) | 3.95% due 12/10/2024 | 600,000 | 566,463 | Singapore | 1.9% | |||||
6,862,581 | 22.7% | |||||||||
Health Care
| ||||||||||
Koninklijke Philips | 7.125% due 05/15/2025 | 1,000,000 | 1,037,458 | Netherlands | 3.4% | |||||
Novartis Captial | 3.00% due 11/20/2025 | 250,000 | 244,834 | Switzerland | 0.8% | |||||
Roche(2) | 2.625% due 05/15/2026 | 200,000 | 191,037 | Switzerland | 0.6% | |||||
1,473,329 | 4.8% | |||||||||
Industrials
| ||||||||||
Odfjell SE(Quarterly NIBOR plus 5.75%)(3,8) | 7.87% due 01/21/2025 | NOK 6,000,000 | 606,771 | Norway | 2.0% | |||||
Materials
| ||||||||||
BALL | 5.25% due 07/01/2025 | 400,000 | 399,004 | United States | 1.3% | |||||
Stora Enso OYJ(2) | 7.25% due 04/15/2036 | 200,000 | 227,137 | Finland | 0.8% | |||||
626,141 | 2.1% | |||||||||
Technology
| ||||||||||
Koninklijke KPN | 8.375% due 10/01/2030 | 250,000 | 291,363 | Netherlands | 1.0% | |||||
Microsoft | 5.30% due 02/08/2041 | 600,000 | 680,145 | United States | 2.3% | |||||
Microsoft | 3.625% due 12/15/2023 | 250,000 | 250,636 | United States | 0.8% | |||||
RELX | 4.00% due 03/18/2029 | 400,000 | 387,166 | United Kingdom | 1.3% | |||||
1,609,310 | 5.4% | |||||||||
Utilities
| ||||||||||
Tabreed Sukuk(3) | 5.50% due 10/31/2025 | 750,000 | 781,327 | United Arab Emirates | 2.6% | |||||
United Utilities | 6.875% due 08/15/2028 | 185,000 | 200,885 | United Kingdom | 0.7% | |||||
982,212 | 3.3% | |||||||||
Total Corporate Bonds | (Cost $21,205,273) | $15,693,878 | 52.1% | |||||||
Government Bonds – 23.0% | ||||||||||
Government Bonds
| ||||||||||
International Finance Corp(3) | 4.60% due 01/27/2023 | BRL 5,000,000 | $928,158 | Brazil | 3.1% | |||||
INTL BK RECON & DEVELOP | 4.25% due 01/22/2026 | MXN 35,000,000 | 1,490,582 | Germany | 5.0% | |||||
Ontario | 2.65% due 02/05/2025 | CAD 500,000 | 370,539 | Canada | 1.2% | |||||
Perusahaan Penerbit SBSN(3) | 3.75% due 03/01/2023 | 500,000 | 499,936 | Indonesia | 1.6% | |||||
Perusahaan Penerbit SBSN(3) | 3.55% due 06/09/2051 | 750,000 | 595,323 | Indonesia | 2.0% | |||||
3,884,538 | 12.9% | |||||||||
Government Sponsored
| ||||||||||
Federal Farm Credit Bank | 3.50% due 12/20/2023 | 500,000 | 499,979 | United States | 1.7% | |||||
Federal Home Loan Bank | 1.65% due 10/06/2031 | 500,000 | 416,792 | United States | 1.3% | |||||
916,771 | 3.0% | |||||||||
United States Treasury Bonds
| ||||||||||
United States Treasury Bond | 2.250% due 08/15/2027 | 500,000 | 475,567 | United States | 1.6% | |||||
United States Treasury Bond | 3.250% due 05/15/2042 | 1,250,000 | 1,200,195 | United States | 4.0% | |||||
United States Treasury Bond | 2.875% due 05/15/2052 | 500,000 | 462,734 | United States | 1.5% | |||||
2,138,496 | 7.1% | |||||||||
Total Government Bonds | (Cost $3,197,476) | $6,939,805 | 23.0% | |||||||
Municipal Bonds – 20.8% | ||||||||||
Floating Rate Bonds
| ||||||||||
Educational Services | ||||||||||
Washington St Hgh Edu Facs Auth(9) | 0.80% due 05/01/2028 | $400,000 | $400,000 | United States | 1.3% | |||||
Government Bonds | ||||||||||
Tarrant Cnty Tx Hsg Fin Corp(9) | 0.43% due 02/15/2036 | 350,000 | 350,000 | United States | 1.2% | |||||
Water Supply | ||||||||||
Utah Water Finance Agency Revenue(9) | 0.40% due 10/01/2035 | 1,400,000 | 1,400,000 | United States | 4.7% | |||||
Financial Services | ||||||||||
Massachusetts St Hsg Fin Agy Hsg Re(9) | 1.67% due 12/01/2048 | 500,000 | 500,000 | United States | 1.6% | |||||
New York City NY Hsg Dev Corp(9) | 1.67% due 05/01/2062 | 1,500,000 | 1,500,000 | United States | 5.0% | |||||
Santa Cruz CA Redev Agy MF Rev(9) | 1.73% due 08/15/2035 | 1,000,000 | 1,000,000 | United States | 3.3% | |||||
Sheridan Co Redev Agy Incr Revenue(9) | 2.40% due 12/01/2029 | 1,100,000 | 1,100,000 | United States | 3.7% | |||||
4,100,000 | 13.6% | |||||||||
Total Municipal Bonds | (Cost $6,250,000) | $6,250,000 | 20.8% | |||||||
Total investments | (Cost $30,652,749) | $28,883,683 | 95.9% | |||||||
Other assets (net of liabilities) | 1,222,074 | 4.1% | ||||||||
Total net assets | $30,105,757 | 100.0% |
(1) | Denotes a country or region of primary exposure |
(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, 2022, the net value of these securities was $3,939,685 representing 13.1% 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, 2022, the aggregate value of these securities was $6,664,452 representing 22.1% of net assets. |
(4) | Vodafone Group is a fixed to float bond. The bond has a fixed rate until 04/04/2029. The interest rate represents the rate in effect at August 31, 2022. |
(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, 2022. |
(6) | Canadian Imperial Bank is a fixed to float bond. The bond has a fixed rate until 10/28/2025. The interest rate represents the rate in effect at August 31, 2022. |
(7) | Voya Financial is a fixed to float bond. The bond has a fixed rate until 01/23/2028. The interest rate represents the rate in effect at August 31, 2022. |
(8) | Variable rate security. The interest rate represents the rate in effect at August 31, 2022 and resets periodically based on the parenthetically disclosed reference rate and spread. |
(9) | Variable rate security. Rate as of period end and maturity is the date the principal owed can be recovered through demand. |
PERP: Security is perpetual in nature and has no stated maturity
BRL: Brazilian Real
CAD: Canadian Dollar
MXN: Mexican Peso
NOK: Norwegian Krone
NZD: New Zealand Dollar
Saturna Investment Trust, Idaho Tax-Exempt Fund
Municipal Bonds – 92.6% | Coupon/Maturity | Face Amount | Market Value | Percentage of Net Assets | ||||
Educational Services
| ||||||||
Boise City ID Indep Sch Dist | 5.00% due 08/01/2032 | $65,000 | $72,933 | 0.5% | ||||
Financial Services
| ||||||||
Idaho Housing & Finance Rev | 3.00% due 07/01/2036 | 50,000 | 49,021 | 0.4% | ||||
Idaho St Bond Bank Auth Rev | 4.00% due 09/15/2032 | 95,000 | 97,158 | 0.7% | ||||
Idaho St Bond Bank Auth Rev | 4.00% due 09/15/2032 | 310,000 | 315,508 | 2.4% | ||||
461,687 | 3.5% | |||||||
General Obligation
| ||||||||
Ada & Canyon Cos ID JSD #2 Meridian | 5.00% due 08/15/2032 | 325,000 | 348,598 | 2.6% | ||||
Ada & Canyon Cos ID JSD #3 Kuna | 4.00% due 09/15/2027 | 100,000 | 106,967 | 0.8% | ||||
Boise City ID Independent SD | 3.00% due 08/01/2038 | 100,000 | 88,912 | 0.7% | ||||
Bonneville & Bingham Cos JSD #93 | 5.00% due 09/15/2031 | 200,000 | 200,199 | 1.5% | ||||
Bonneville & Bingham Cos JSD #93 | 5.00% due 09/15/2029 | 250,000 | 250,249 | 1.9% | ||||
Bonneville Co ID SCD #91 | 4.00% due 09/15/2026 | 15,000 | 15,009 | 0.1% | ||||
Bonneville Co ID SCD #91 | 4.00% due 09/15/2026 | 35,000 | 35,021 | 0.3% | ||||
Bonneville Co ID SCD #91 | 3.75% due 09/15/2032 | 285,000 | 285,153 | 2.1% | ||||
Canyon Co ID SCD #134 Middleton | 4.00% due 09/15/2028 | 400,000 | 418,193 | 3.1% | ||||
Canyon Co ID SCD #135 Notus | 3.25% due 09/15/2031 | 290,000 | 294,694 | 2.2% | ||||
Canyon Co ID SCD #135 Notus | 3.25% due 09/15/2032 | 170,000 | 171,177 | 1.3% | ||||
Canyon Co ID SCD #139 Vallivue | 5.00% due 09/15/2024 | 260,000 | 260,510 | 1.9% | ||||
Canyon Co ID Sch Dist #139 Vallivue | 5.00% due 09/15/2030 | 200,000 | 228,641 | 1.7% | ||||
Caribou Franklin Bannock JSD #148 | 3.25% due 09/15/2035 | 300,000 | 301,554 | 2.2% | ||||
Cassia Oneida Twin Falls JSD #151 | 3.375% due 09/15/2034 | 160,000 | 158,040 | 1.2% | ||||
College of Western ID Annual Approp | 4.00% due 10/01/2027 | 125,000 | 132,725 | 1.0% | ||||
Kootenai Co ID SCD # 271 UNREF | 4.00% due 09/15/2025 | 125,000 | 125,075 | 0.9% | ||||
Kootenai Co ID SCD #271 PREREF | 4.00% due 09/15/2025 | 40,000 | 40,022 | 0.3% | ||||
Kootenai Co ID SCD #273 | 4.00% due 08/15/2031 | 265,000 | 275,750 | 2.1% | ||||
Latah Co ID SCD #281 Moscow Ser B | 4.00% due 08/15/2027 | 100,000 | 101,473 | 0.7% | ||||
Latah Co ID SCD #281 Moscow Ser B | 4.00% due 08/15/2028 | 200,000 | 202,928 | 1.5% | ||||
Madison Co ID Sch Dist #321 Rexburg | 5.00% due 09/15/2034 | 25,000 | 27,299 | 0.2% | ||||
Madison Co. Id. SDC #321 | 5.00% due 09/15/2035 | 250,000 | 272,620 | 2.0% | ||||
Owyhee & Canyon Co. # 363 Marsing | 4.00% due 09/15/2035 | 150,000 | 155,930 | 1.2% | ||||
SUN VLY ID | 5.00% due 09/15/2029 | 40,000 | 44,968 | 0.3% | ||||
Teton Co, ID SCD #401 Driggs | 4.00% due 09/15/2035 | 500,000 | 521,048 | 3.9% | ||||
Twin Falls Co ID SCD #411 Series A | 4.00% due 09/15/2027 | 170,000 | 175,179 | 1.3% | ||||
Twin Falls Co ID SCD #411 Series A | 4.25% due 09/15/2030 | 300,000 | 310,619 | 2.3% | ||||
Twin Falls Co ID SCD #411 Series B | 4.75% due 09/15/2039 | 200,000 | 209,053 | 1.6% | ||||
5,757,606 | 42.9% | |||||||
Government Bonds
| ||||||||
Idaho St Bldg Auth Health & Welfare | 5.00% due 09/01/2043 | 25,000 | 27,115 | 0.2% | ||||
Idaho St Health Facs Auth | 4.00% due 09/01/2045 | 265,000 | 245,967 | 1.8% | ||||
Idaho St Hsg & Fin Assn | 5.00% due 07/15/2037 | 100,000 | 109,349 | 0.8% | ||||
382,431 | 2.8% | |||||||
Health Care Facilities
| ||||||||
Idaho Health Faci Auth Hos Rev | 5.00% due 12/01/2047 | 260,000 | 274,541 | 2.0% | ||||
Medical/Hospitals
| ||||||||
Idaho Health Rev Trinity Health Grp | 3.25% due 12/01/2028 | 300,000 | 302,031 | 2.3% | ||||
Municipal Leases
| ||||||||
Fremont Cnty ID Annual Approp COPS | 4.00% due 09/01/2031 | 280,000 | 299,491 | 2.2% | ||||
Fremont Cnty ID Annual Approp COPS | 4.00% due 09/01/2036 | 210,000 | 217,582 | 1.6% | ||||
Idaho Falls ID COPs | 4.00% due 09/15/2028 | 310,000 | 330,730 | 2.5% | ||||
Idaho Falls ID COPS | 4.00% due 09/15/2038 | 150,000 | 151,703 | 1.2% | ||||
Idaho St HLTH FACS ADA CNTY | 4.00% due 09/01/2040 | 155,000 | 151,095 | 1.1% | ||||
1,150,601 | 8.6% | |||||||
Pollution Control
| ||||||||
Idaho Bond Bank Authority | 4.30% due 09/01/2022 | 20,000 | 20,000 | 0.1% | ||||
Idaho Bond Bank Authority | 4.00% due 09/15/2032 | 130,000 | 136,521 | 1.0% | ||||
Idaho Bond Bank Authority | 4.00% due 09/15/2033 | 135,000 | 141,238 | 1.1% | ||||
297,759 | 2.2% | |||||||
Real Estate
| ||||||||
Idaho Fish & Wildlife Foundation Rev | 5.00% due 12/01/2033 | 320,000 | 353,554 | 2.6% | ||||
Idaho Fish & Wildlife Foundation Rev | 4.00% due 12/01/2036 | 200,000 | 205,351 | 1.5% | ||||
Idaho St HSG & FIN | 2.25% due 07/01/2031 | 200,000 | 179,396 | 1.4% | ||||
Idaho State Building Authority | 5.00% due 09/01/2031 | 200,000 | 200,000 | 1.5% | ||||
Idaho State Building Authority | 5.00% due 09/01/2032 | 400,000 | 400,000 | 3.0% | ||||
1,338,301 | 10.0% |
State Education
| ||||||||
Ada & Canyon ID SCH #3 Kuna | 5.00% due 09/15/2030 | 25,000 | 27,460 | 0.2% | ||||
Boise State University ID Revenue | 5.00% due 04/01/2028 | 125,000 | 132,045 | 1.0% | ||||
Boise State University ID Revenue | 5.00% due 04/01/2032 | 160,000 | 170,772 | 1.3% | ||||
Idaho State University Revenue | 4.00% due 04/01/2027 | 170,000 | 177,206 | 1.3% | ||||
Idaho State University Revenue | 4.00% due 04/01/2030 | 245,000 | 252,421 | 1.9% | ||||
Idaho State University Revenue | 3.00% due 04/01/2031 | 250,000 | 235,650 | 1.8% | ||||
Jefferson & Madison Cos. ID SCD#251 | 5.00% due 09/15/2028 | 100,000 | 114,127 | 0.8% | ||||
Jefferson & Madison ID SCD #251 | 5.00% due 09/15/2032 | 25,000 | 28,393 | 0.2% | ||||
Nez Perce CO ISD #1 Lewiston | 5.00% due 09/15/2029 | 330,000 | 364,404 | 2.7% | ||||
North Idaho College Dormitory Rev | 4.00% due 11/01/2030 | 285,000 | 295,592 | 2.2% | ||||
Univ of Idaho ID Revenues | 4.00% due 04/01/2038 | 125,000 | 127,945 | 0.9% | ||||
1,926,015 | 14.3% | |||||||
Water Supply
| ||||||||
Payette Lakes Rec Wtr & Swr Rev | 4.00% due 08/01/2032 | 195,000 | 202,425 | 1.5% | ||||
Payette Lakes Rec Wtr & Swr Rev | 4.00% due 08/01/2034 | 255,000 | 263,292 | 2.0% | ||||
465,717 | 3.5% | |||||||
Total Municipal Bonds | (Cost $12,814,834) | $12,429,622 | 92.6% | |||||
Municipal Revenue Bonds – 2.3% | ||||||||
Government Bonds
| ||||||||
ID ST Hsg & Fin Assn Sales Tax Rev | 5.00% due 08/15/2042 | $125,000 | $140,169 | 1.1% | ||||
ID ST Hsg & Fin Assn Sales Tax Rev | 5.00% due 08/15/2047 | 150,000 | 166,603 | 1.2% | ||||
Total Muni Revenue Bond | (Cost $322,331) | $306,772 | 2.3% | |||||
Total investments | (Cost $13,137,165) | $12,736,394 | 94.9% | |||||
Other assets (net of liabilities) | 681,375 | 5.1% | ||||||
Total net assets | $13,417,769 | 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, 2022 in valuing the Funds’ investments carried at value:
Fair Value Measurements Table:
Level 1 | Level 2 | Level 3 | ||||||
Funds | Quoted Price | Significant Observable Input | Significant Unobservable Input | Total | ||||
Sextant Growth | ||||||||
Common Stocks(1) | $52,719,139 | $- | $- | $52,719,139 | ||||
Total Assets | $52,719,139 | $- | $- | $52,719,139 | ||||
Idaho Tax-Exempt | ||||||||
Municipal Bonds(1) | $- | $12,429,622 | $- | $12,429,622 | ||||
Municipal Revenue Bonds(1) | $306,772 | $306,772 | ||||||
Total Assets | $- | $12,736,394 | $- | $12,736,394 | ||||
Sextant Bond Income | ||||||||
Corporate Bonds(1) | $- | $6,606,120 | $- | $6,606,120 | ||||
Government Bonds(1) | $- | $2,753,373 | $- | $2,753,373 | ||||
Municipal Bonds(1) | $- | $160,000 | $- | $160,000 | ||||
Total Assets | $- | $9,519,493 | $- | $9,519,493 | ||||
Sextant Short-Term Bond | ||||||||
Corporate Bonds(1) | $- | $7,390,091 | $- | $7,390,091 | ||||
Government Bonds(1) | $- | $4,262,379 | $- | $4,262,379 | ||||
Total Assets | $- | $11,652,470 | $- | $11,652,470 | ||||
Sextant International | ||||||||
Common Stocks | ||||||||
Communications | $1,756,560 | $- | $- | $1,756,560 | ||||
Consumer Discretionary | $3,958,084 | $640,766 | $- | $4,598,850 | ||||
Consumer Staples | $590,070 | $2,667,790 | $- | $3,257,860 | ||||
Energy | $252,550 | $- | $- | $252,550 | ||||
Health Care | $6,325,142 | $2,139,819 | $- | $8,464,961 | ||||
Industrials | $1,189,100 | $1,638,184 | $- | $2,827,284 | ||||
Materials | $4,102,632 | $1,498,177 | $- | $5,600,809 | ||||
Technology | $13,777,616 | $6,178,444 | $- | $19,956,060 | ||||
Utilities | $1,311,000 | $936,061 | $- | $2,247,061 | ||||
Total Assets | $33,262,754 | $15,699,241 | $- | $48,961,995 | ||||
Sextant Core | ||||||||
Common Stocks | ||||||||
Communications | $589,400 | $- | $- | $589,400 | ||||
Consumer Discretionary | $840,424 | $- | $- | $840,424 | ||||
Consumer Staples | $596,382 | $- | $- | $596,382 | ||||
Energy | $806,404 | $- | $- | $806,404 | ||||
Financials | $700,795 | $- | $- | $700,795 | ||||
Health Care | $1,392,412 | $161,377 | $- | $1,553,789 | ||||
Industrials | $1,731,960 | $- | $- | $1,731,960 | ||||
Materials | $727,224 | $- | $- | $727,224 | ||||
Technology | $1,570,823 | $- | $- | $1,570,823 | ||||
Utilities | $511,296 | $- | $- | $511,296 | ||||
Total Common Stocks | $9,467,120 | $161,377 | $- | $9,628,497 | ||||
Corporate Bonds(1) | $4,166,421 | $- | $4,166,421 | |||||
Government Bonds(1) | $- | $2,917,662 | $- | $2,917,662 | ||||
Municipal Bonds(1) | $- | $213,233 | $- | $213,233 | ||||
Total Assets | $9,467,120 | $7,458,693 | $- | $16,925,813 | ||||
Sextant Global High Income | ||||||||
Common Stocks | ||||||||
Communications | $696,076 | $131,497 | $- | $827,573 | ||||
Consumer Discretionary | $- | $213,486 | $- | $213,486 | ||||
Consumer Staples | $29,900 | $- | $- | $29,900 | ||||
Energy | $438,585 | $- | $- | $438,585 | ||||
Financials | $327,150 | $249,845 | $- | $576,995 | ||||
Health Care | $331,220 | $- | $- | $331,220 | ||||
Materials | $731,690 | $172,015 | $- | $903,705 | ||||
Technology | $404,500 | $205,116 | $- | $609,616 | ||||
Total Common Stocks | $3,676,136 | $1,133,864 | $- | $3,931,080 | ||||
Corporate Bonds(1) | $- | $2,769,790 | $- | $2,769,790 | ||||
Government Bonds(1) | $- | $1,223,322 | $- | $1,223,322 | ||||
Municipal Bonds(1) | $- | $51,388 | $- | $51,388 | ||||
Total Assets | $3,676,136 | $5,178,364 | $- | $7,975,580 |
Sustainable Equity | ||||||||||||||||
Common Stocks | ||||||||||||||||
Communications | $291,408 | $- | $- | $291,408 | ||||||||||||
Consumer Discretionary | $2,515,074 | $- | $- | $2,515,074 | ||||||||||||
Consumer Staples | $1,869,220 | $- | $- | $1,869,220 | ||||||||||||
Energy | $- | $275,398 | $- | $275,398 | ||||||||||||
Financials | $1,367,162 | $- | $- | $1,367,162 | ||||||||||||
Health Care | $2,652,878 | $- | $- | $2,652,878 | ||||||||||||
Industrials | $1,527,976 | $448,867 | $- | $1,976,843 | ||||||||||||
Materials | $374,922 | $737,471 | $- | $1,112,393 | ||||||||||||
Technology | $4,086,660 | $705,108 | $- | $4,791,768 | ||||||||||||
Total Assets | $14,685,300 | $2,166,844 | $- | $16,852,144 | ||||||||||||
Sustainable Bond | ||||||||||||||||
Corporate Bonds(1) | $- | $15,693,878 | $- | $15,693,878 | ||||||||||||
Government Bonds(1) | $- | $6,939,805 | $- | $6,939,805 | ||||||||||||
Municipal Bonds(1) | $- | $6,250,000 | $- | $6,250,000 | ||||||||||||
Total Assets | $- | $28,883,683 | $- | $28,883,683 |
¹ | See Schedule of Investments for industry breakout. |
There were no transfers between Level 1 and Level 2 during the period ending August 31, 2022