# EDGAR Filing Document

**Accession Number:** 0000811860
**File Stem:** 0001145549-23-003774
**Filing Date:** 2023-1
**Character Count:** 17221
**Document Hash:** 57e1f9628988b56dcda8c1b6af422378
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-23-003774.hdr.sgml**: 20230127

**ACCESSION NUMBER**: 0001145549-23-003774

**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:** 23561479

**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 Short-Term Bond Fund (Series ID: S000022511)

| Class ID   | Class Name                   | Ticker Symbol   |
|:---|:---|:---|
| C000065112 | Sextant Short-Term Bond Fund | STBFX           |

## 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 Short-Term Bond Fund

- **b. EDGAR series identifier (if any):** S000022511

- **c. LEI of Series:** 549300WJJ8Z2FG4M0C17

**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:** $12323825.63

**Total Liabilities:** $14391.74

**Net Assets:** $12309433.89

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 41.495501613876 | **1-Year:** 774.303402644443 | **5-Year:** 694.795849351892 | **10-Year:** 0.000000000000 | **30-Year:** 0.000000000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 0.000000000000 | **1-Year:** 0.000000000000 | **5-Year:** 0.000000000000 | **10-Year:** 0.000000000000 | **30-Year:** 0.000000000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000065112 | -1.32%               | -0.09%               | 0.97%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $-183377.46                                |
| Month 2  | $0.96                    | $-29458.04                                 |
| Month 3  | $-34272.04               | $136220.11                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Autozone, Inc.                         | AZO 3.25 04/15/25     | CUSIP: 053332AR3<br>LEI: GA3JGKJ41LJKXDN23E90 | Long             | DBT              | CORP              | US        |    300000 | NS      | $288215.13    | 2.34%             | 2025-04-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| BHP Billiton Finance (USA) Ltd.        | BHP 3.85 09/30/23     | CUSIP: 055451AU2<br>LEI: 5493003NUVITP3TMY274 | Long             | DBT              | CORP              | AU        |    150000 | NS      | $148572.75    | 1.21%             | 2023-09-30      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| Bank of America Corporation            | BAC 3.5 04/19/26 GMTN | CUSIP: 06051GFX2<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    400000 | NS      | $383175.42    | 3.11%             | 2026-04-19      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Costco Wholesale Corporation           | COST 2.75 05/18/24    | CUSIP: 22160KAL9<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | DBT              | CORP              | US        |    385000 | NS      | $375798.94    | 3.05%             | 2024-05-18      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Dollar General Corporation             | DG 4.15 11/01/25      | CUSIP: 256677AD7<br>LEI: OPX52SQVOZI8IVSWYU66 | Long             | DBT              | CORP              | US        |    300000 | NS      | $293425.03    | 2.38%             | 2025-11-01      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Dupont De Nemours Inc                  | DD 4.493 11/15/25     | CUSIP: 26078JAC4<br>LEI: 5493004JF0SDFLM8GD76 | Long             | DBT              | CORP              | US        |    383000 | NS      | $379526.91    | 3.08%             | 2025-11-15      | Fixed         | 4.49%                 | No            |                  2 | On Loan: No      |
| eBay Inc.                              | EBAY 2.75 01/30/23    | CUSIP: 278642AS2<br>LEI: OML71K8X303XQONU6T67 | Long             | DBT              | CORP              | US        |    100000 | NS      | $99684.91     | 0.81%             | 2023-01-30      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Edison International                   | EIX 3.55 11/15/24     | CUSIP: 281020AQ0<br>LEI: 549300I7ROF15MAEVP56 | Long             | DBT              | CORP              | US        |    350000 | NS      | $336621.88    | 2.73%             | 2024-11-15      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| Exelon Generation Company, LLC         | CEG 3.25 06/01/25     | CUSIP: 30161MAS2<br>LEI: S2PEWKCZFFECR4533P43 | Long             | DBT              | CORP              | US        |    400000 | NS      | $383650.84    | 3.12%             | 2025-06-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Federal Home Loan Banks                | FHLB 3.375 12/08/23   | CUSIP: 3130A0F70<br>LEI: 2549001DPIFGXC1TOL40 | Long             | DBT              | USGSE             | US        |    300000 | NS      | $295652.11    | 2.40%             | 2023-12-08      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Federal Farm Credit Banks              | FFCB 3.5 12/20/23     | CUSIP: 3133EDBU5<br>LEI: N/A                  | Long             | DBT              | USGSE             | US        |    200000 | NS      | $196820.30    | 1.60%             | 2023-12-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Florida Power & Light Company          | NEE 2.85 04/01/25     | CUSIP: 341081FZ5<br>LEI: A89MY1K3YLIGJMYWVX50 | Long             | DBT              | CORP              | US        |    320000 | NS      | $306840.13    | 2.49%             | 2025-04-01      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| Swiss Re Solutions Holding Corporation | SRENVX 7 02/15/26     | CUSIP: 36158FAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    378000 | NS      | $399789.07    | 3.25%             | 2026-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Gilead Sciences, Inc.                  | GILD 2.5 09/01/23     | CUSIP: 375558BL6<br>LEI: 549300WTZWR07K8MNV44 | Long             | DBT              | CORP              | US        |    400000 | NS      | $392630.54    | 3.19%             | 2023-09-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase & Co.                   | JPM 3.3 04/01/26      | CUSIP: 46625HQW3<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |    300000 | NS      | $286075.02    | 2.32%             | 2026-04-01      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| Johnson & Johnson                      | JNJ 2.45 03/01/26     | CUSIP: 478160BY9<br>LEI: 549300G0CFPGEF6X2043 | Long             | DBT              | CORP              | US        |     50000 | NS      | $47391.54     | 0.39%             | 2026-03-01      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| Kinross Gold Corporation               | KCN 5.95 03/15/24     | CUSIP: 496902AN7<br>LEI: 549300UEBMAQDN0K0R06 | Long             | DBT              | CORP              | CA        |    250000 | NS      | $250822.57    | 2.04%             | 2024-03-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Microsoft Corporation                  | MSFT 2.375 05/01/23   | CUSIP: 594918AT1<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | DBT              | CORP              | US        |    395000 | NS      | $391420.47    | 3.18%             | 2023-05-01      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| The Mosaic Company                     | MOS 4.25 11/15/23     | CUSIP: 61945CAC7<br>LEI: 2YD5STGSJNMUB7H76907 | Long             | DBT              | CORP              | US        |    150000 | NS      | $148499.40    | 1.21%             | 2023-11-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Oracle Corporation                     | ORCL 2.95 05/15/25    | CUSIP: 68389XBC8<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    275000 | NS      | $261780.60    | 2.13%             | 2025-05-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| PacifiCorp.                            | BRKHEC 2.95 06/01/23  | CUSIP: 695114CQ9<br>LEI: SGY07Y7FNYBNLM6Z1M11 | Long             | DBT              | CORP              | US        |    250000 | NS      | $247244.98    | 2.01%             | 2023-06-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Paypal Holdings Incorporation          | PYPL 2.65 10/01/26    | CUSIP: 70450YAD5<br>LEI: 5493005X2GO78EFZ3E94 | Long             | DBT              | CORP              | US        |    300000 | NS      | $278313.95    | 2.26%             | 2026-10-01      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| The Procter & Gamble Company           | PG 2.8 03/25/27       | CUSIP: 742718FG9<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | DBT              | CORP              | US        |    250000 | NS      | $235249.10    | 1.91%             | 2027-03-25      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| QUALCOMM Inc.                          | QCOM 2.6 01/30/23     | CUSIP: 747525AR4<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | DBT              | CORP              | US        |    400000 | NS      | $398866.03    | 3.24%             | 2023-01-30      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| Take-Two Interactive Software Inc.     | TTWO 3.7 04/14/27     | CUSIP: 874054AG4<br>LEI: BOMSTHHJK882EWYX3334 | Long             | DBT              | CORP              | US        |    350000 | NS      | $331521.34    | 2.69%             | 2027-04-14      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bills           | B 0 04/20/23          | CUSIP: 912796V48<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    600000 | NS      | $589837.75    | 4.79%             | 2023-04-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bills           | B 0 01/05/23          | CUSIP: 912796X95<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    600000 | NS      | $597788.46    | 4.86%             | 2023-01-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes           | T 2.25 10/31/24       | CUSIP: 9128283D0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    100000 | NS      | $96050.78     | 0.78%             | 2024-10-31      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes           | T 2.875 04/30/25      | CUSIP: 9128284M9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    400000 | NS      | $387218.75    | 3.15%             | 2025-04-30      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes           | T 2.625 12/31/25      | CUSIP: 9128285T3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    600000 | NS      | $574593.77    | 4.67%             | 2025-12-31      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes           | T 2.5 08/15/23        | CUSIP: 912828VS6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    850000 | NS      | $836751.95    | 6.80%             | 2023-08-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes           | T 2.375 05/15/27      | CUSIP: 912828X88<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    350000 | NS      | $327906.25    | 2.66%             | 2027-05-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes           | T 0.125 08/31/23      | CUSIP: 91282CCU3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    300000 | NS      | $289863.27    | 2.35%             | 2023-08-31      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |
| V.F. Corp                              | VFC 2.4 04/23/25      | CUSIP: 918204BA5<br>LEI: CWAJJ9DJ5Z7P057HV541 | Long             | DBT              | CORP              | US        |     67000 | NS      | $62715.87     | 0.51%             | 2025-04-23      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| Visa Inc                               | V 3.15 12/14/25       | CUSIP: 92826CAD4<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | DBT              | CORP              | US        |    350000 | NS      | $336665.61    | 2.74%             | 2025-12-14      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| Walmart Inc                            | WMT 2.85 07/08/24     | CUSIP: 931142EL3<br>LEI: Y87794H0US1R65VBXU25 | Long             | DBT              | CORP              | US        |    325000 | NS      | $316724.20    | 2.57%             | 2024-07-08      | Fixed         | 2.85%                 | 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