# EDGAR Filing Document

**Accession Number:** 0000811860
**File Stem:** 0001145549-23-003771
**Filing Date:** 2023-1
**Character Count:** 14610
**Document Hash:** 7e44a9b22639d66b34a3bee9fda3c14b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-23-003771.hdr.sgml**: 20230127

**ACCESSION NUMBER**: 0001145549-23-003771

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221130

**FILED AS OF DATE**: 20230127

**DATE AS OF CHANGE**: 20230127

**PERIOD START**: 20221130

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SATURNA INVESTMENT TRUST
- **CENTRAL INDEX KEY:** 0000811860
- **IRS NUMBER:** 356447892
- **STATE OF INCORPORATION:** WA
- **FISCAL YEAR END:** 1130

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05071
- **FILM NUMBER:** 23561473

**BUSINESS ADDRESS:**
- **STREET 1:** 1300 NORTH STATE STREET
- **CITY:** BELLINGHAM
- **STATE:** WA
- **ZIP:** 98225-4730
- **BUSINESS PHONE:** 3607349900

**MAIL ADDRESS:**
- **STREET 1:** 1300 NORTH STATE STREET
- **CITY:** BELLINGHAM
- **STATE:** WA
- **ZIP:** 98225-4730

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NORTHWEST INVESTORS TRUST
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NORTHWEST INVESTORS TAX EXEMPT BUSINESS TRUST
- **DATE OF NAME CHANGE:** 19901024

## Series and Classes Contracts Data

### Sextant International Fund (Series ID: S000022509)

| Class ID   | Class Name                                 | Ticker Symbol   |
|:---|:---|:---|
| C000065110 | Sextant International Fund Investor Shares | SSIFX           |
| C000188908 | Sextant International Fund Z Shares        | SIFZX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** SATURNA INVESTMENT TRUST

- **b. Investment Company Act file number:** 811-05071

- **c. CIK number of Registrant:** 0000811860

- **d. LEI of Registrant:** 549300DUR2XVDJBC5412

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 1300 NORTH STATE STREET

  - **City:** BELLINGHAM

  - **State:** WA

  - **Foreign country:** US

  - **Zip / Postal Code:** 982254730

  - **Telephone number:** 3607349900

**Item A.2. Information about the Series.**

- **a. Name of Series:** Sextant International Fund

- **b. EDGAR series identifier (if any):** S000022509

- **c. LEI of Series:** 549300IR48BXZNTIMJ91

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2022-11-30

- **b. Date as of which information is reported:** 2022-11-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $57002126.41

**Total Liabilities:** $127314.23

**Net Assets:** $56874812.18

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000065110 | -7.82%               | 5.17%                | 9.88%                |
| Class ID C000188908 | -7.75%               | 5.15%                | 9.86%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $425647.41               | $-4614771.96                               |
| Month 2  | $-257106.74              | $2849475.95                                |
| Month 3  | $-464165.39              | $5498358.56                                |

### Schedule of Portfolio Investments

| Name                           | Title                          | Identifiers                  | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Agnico-Eagle Mines             | Agnico-Eagle Mines             | CUSIP: 008474108<br>LEI: N/A | Long             | EC               | CORP              | CA        |     18000 | NS      | $906660.00    | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| AstraZeneca ADS                | AstraZeneca ADS                | CUSIP: 046353108<br>LEI: N/A | Long             | EC               | CORP              | GB        |     17000 | NS      | $1155490.00   | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Barrick Gold                   | Barrick Gold                   | CUSIP: 067901108<br>LEI: N/A | Long             | EC               | CORP              | CA        |     43000 | NS      | $701760.00    | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| BHP Biliton ADR                | BHP Biliton ADR                | CUSIP: 088606108<br>LEI: N/A | Long             | EC               | CORP              | AU        |     14000 | NS      | $879200.00    | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| BioNTech SE                    | BioNTech SE                    | CUSIP: 09075V102<br>LEI: N/A | Long             | EC               | CORP              | DE        |      4500 | NS      | $751590.00    | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Canadian National Railway      | Canadian National Railway      | CUSIP: 136375102<br>LEI: N/A | Long             | EC               | CORP              | CA        |     10000 | NS      | $1284300.00   | 2.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Dassault Systemes ADR          | Dassault Systemes ADR          | CUSIP: 237545108<br>LEI: N/A | Long             | EC               | CORP              | FR        |     78215 | NS      | $2879876.30   | 5.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinor ADR                    | Equinor ADR                    | CUSIP: 29446M102<br>LEI: N/A | Long             | EC               | CORP              | NO        |     21000 | NS      | $808080.00    | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Lululemon Athletica            | Lululemon Athletica            | CUSIP: 550021109<br>LEI: N/A | Long             | EC               | CORP              | US        |      3500 | NS      | $1331085.00   | 2.34%             |  |  |  | No            |                  1 | On Loan: No      |
| MercadoLibre                   | MercadoLibre                   | CUSIP: 58733R102<br>LEI: N/A | Long             | EC               | CORP              | AR        |      3215 | NS      | $2993116.78   | 5.26%             |  |  |  | No            |                  1 | On Loan: No      |
| NICE Systems ADR               | NICE Systems ADR               | CUSIP: 653656108<br>LEI: N/A | Long             | EC               | CORP              | IL        |     16075 | NS      | $3121282.75   | 5.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Northland Power                | Northland Power                | CUSIP: 666511100<br>LEI: N/A | Long             | EC               | CORP              | CA        |     38000 | NS      | $1053360.00   | 1.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Novartis ADS                   | Novartis ADS                   | CUSIP: 66987V109<br>LEI: N/A | Long             | EC               | CORP              | CH        |     15150 | NS      | $1356834.00   | 2.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Novo Nordisk ADS               | Novo Nordisk ADS               | CUSIP: 670100205<br>LEI: N/A | Long             | EC               | CORP              | DK        |     31700 | NS      | $3949820.00   | 6.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Nutrien                        | Nutrien                        | CUSIP: 67077M108<br>LEI: N/A | Long             | EC               | CORP              | CA        |      7500 | NS      | $603000.00    | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Rio Tinto ADS                  | Rio Tinto ADS                  | CUSIP: 767204100<br>LEI: N/A | Long             | EC               | CORP              | GB        |     32800 | NS      | $2251392.00   | 3.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Sony ADS                       | Sony ADS                       | CUSIP: 835699307<br>LEI: N/A | Long             | EC               | CORP              | JP        |     25000 | NS      | $2076750.00   | 3.65%             |  |  |  | No            |                  1 | On Loan: No      |
| STMicroelectronics (NY shares) | STMicroelectronics (NY shares) | CUSIP: 861012102<br>LEI: N/A | Long             | EC               | CORP              | CH        |     17000 | NS      | $660960.00    | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Telus                          | Telus                          | CUSIP: 87971M103<br>LEI: N/A | Long             | EC               | CORP              | CA        |     78000 | NS      | $1662180.00   | 2.92%             |  |  |  | No            |                  1 | On Loan: No      |
| TotalEnergies SE ADR           | TotalEnergies SE ADR           | CUSIP: 89151E109<br>LEI: N/A | Long             | EC               | CORP              | FR        |     20000 | NS      | $1248400.00   | 2.19%             |  |  |  | No            |                  1 | On Loan: No      |
| US Treasury Bill due 1/05/23   | US Treasury Bill due 1/05/23   | CUSIP: 912796X95<br>LEI: N/A | Long             | DBT              | CORP              | US        |   2000000 | NS      | $1992628.12   | 3.50%             |  |  |  | No            |                  2 | On Loan: No      |
| Accenture, Class A             | Accenture, Class A             | CUSIP: G1151C101<br>LEI: N/A | Long             | EC               | CORP              | IE        |      7600 | NS      | $2287068.00   | 4.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Eaton Corp PLC                 | Eaton Corp PLC                 | CUSIP: G29183103<br>LEI: N/A | Long             | EC               | CORP              | US        |      5000 | NS      | $817250.00    | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Linde                          | Linde                          | CUSIP: G5494J103<br>LEI: N/A | Long             | EC               | CORP              | GB        |      5500 | NS      | $1850640.00   | 3.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Alcon                          | Alcon                          | CUSIP: H01301128<br>LEI: N/A | Long             | EC               | CORP              | CA        |     25000 | NS      | $1722250.00   | 3.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Nestle S.A.                    | Nestle S.A.                    | CUSIP: ID1800765<br>LEI: N/A | Long             | EC               | CORP              | CH        |      6000 | NS      | $709269.49    | 1.25%             |  |  |  | No            |                  2 | On Loan: No      |
| ASML Holding NY                | ASML Holding NY                | CUSIP: N07059210<br>LEI: N/A | Long             | EC               | CORP              | NL        |      5475 | NS      | $3329457.00   | 5.85%             |  |  |  | No            |                  1 | On Loan: No      |
| L'Oreal                        | L'Oreal                        | CUSIP: N/A<br>LEI: N/A       | Long             | EC               | CORP              | FR        |      3400 | NS      | $1263458.85   | 2.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Hermes International           | Hermes International           | CUSIP: N/A<br>LEI: N/A       | Long             | EC               | CORP              | FR        |       600 | NS      | $964909.50    | 1.70%             |  |  |  | No            |                  2 | On Loan: No      |
| Wolters Kluwer                 | Wolters Kluwer                 | CUSIP: N/A<br>LEI: N/A       | Long             | EC               | CORP              | NL        |     31000 | NS      | $3380585.71   | 5.94%             |  |  |  | No            |                  2 | On Loan: No      |
| Varta AG                       | Varta AG                       | CUSIP: N/A<br>LEI: N/A       | Long             | EC               | CORP              | DE        |      6200 | NS      | $181279.11    | 0.32%             |  |  |  | No            |                  2 | On Loan: No      |
| Nintendo                       | Nintendo                       | CUSIP: N/A<br>LEI: N/A       | Long             | EC               | CORP              | JP        |     34000 | NS      | $1442671.98   | 2.54%             |  |  |  | No            |                  2 | On Loan: No      |
| Experian PLC                   | Experian PLC                   | CUSIP: N/A<br>LEI: N/A       | Long             | EC               | CORP              | US        |     33000 | NS      | $1153681.23   | 2.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Iberdrola                      | Iberdrola                      | CUSIP: N/A<br>LEI: N/A       | Long             | EC               | CORP              | ES        |     99851 | NS      | $1116193.19   | 1.96%             |  |  |  | No            |                  2 | On Loan: No      |
| Alfen Beheer BV                | Alfen Beheer BV                | CUSIP: N/A<br>LEI: N/A       | Long             | EC               | CORP              | NL        |      3300 | NS      | $319682.28    | 0.56%             |  |  |  | No            |                  2 | On Loan: No      |
| NIBE Industrier AB Class B     | NIBE Industrier AB Class B     | CUSIP: N/A<br>LEI: N/A       | Long             | EC               | CORP              | SE        |     40000 | NS      | $371903.64    | 0.65%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2022-12-27

**Name of Applicant:** SATURNA INVESTMENT TRUST

**Signature:** Christopher Fankhauser

**Name of Signer:** Christopher Fankhauser

**Title:** Treasurer