# EDGAR Filing Document

**Accession Number:** 0000766285
**File Stem:** 0001145549-23-003762
**Filing Date:** 2023-1
**Character Count:** 20329
**Document Hash:** 036278117bc61ffe8a5c06c887d6ca9a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001145549-23-003762.hdr.sgml**: 20230127

**ACCESSION NUMBER**: 0001145549-23-003762

**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**: 20230531

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AMANA MUTUAL FUNDS TRUST
- **CENTRAL INDEX KEY:** 0000766285
- **IRS NUMBER:** 356447892
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0531

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04276
- **FILM NUMBER:** 23561452

**BUSINESS ADDRESS:**
- **STREET 1:** 1300 NORTH STATE ST
- **CITY:** BELLINGHAM
- **STATE:** WA
- **ZIP:** 98225
- **BUSINESS PHONE:** 3605949900

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

## Series and Classes Contracts Data

### Amana Participation Fund (Series ID: S000050991)

| Class ID   | Class Name                                    | Ticker Symbol   |
|:---|:---|:---|
| C000160666 | Amana Participation Fund Investor Shares      | AMAPX           |
| C000160667 | Amana Participation Fund Institutional Shares | AMIPX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Amana Mutual Funds Trust

- **b. Investment Company Act file number:** 811-04276

- **c. CIK number of Registrant:** 0000766285

- **d. LEI of Registrant:** 549300XBCMMU088YXT31

- **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:** Amana Participation Fund

- **b. EDGAR series identifier (if any):** S000050991

- **c. LEI of Series:** 549300I3KR1UNQ0LEQ66

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

- **a. Date of fiscal year-end:** 2023-05-31

- **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:** $208922799.06

**Total Liabilities:** $226314.24

**Net Assets:** $208696484.82

**Amount of Assets Invested in Other Investment Companies:** $40945140.22

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 267.831143074596 | **1-Year:** 10654.393006782321 | **5-Year:** 14421.924524354604 | **10-Year:** 5236.307447297378 | **30-Year:** 9608.246178348145

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

- **3-Month:** 0.000000000000 | **1-Year:** 625.935380904416 | **5-Year:** 4396.427985095471 | **10-Year:** 789.456091332994 | **30-Year:** 6545.843383298583

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000160666 | -2.33%               | -0.72%               | 1.47%                |
| Class ID C000160667 | -2.30%               | -0.60%               | 1.49%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1236796.24             | $-4048719.75                               |
| Month 2  | $-188351.02              | $-1605367.57                               |
| Month 3  | $0.00                    | $2680658.72                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Perusahaan Penerbit SBSN Indonesia III            | INDOIS 4.55 03/29/26 REGS     | CUSIP: 71567RAF3<br>LEI: 254900G208H6Q0L5B953 | Long             | DBT              | NUSS              | ID        |   5685000 | NS      | $5651282.94   | 2.71%             | 2026-03-29      | Fixed         | 4.55%                 | Yes           |                  2 | On Loan: No      |
| Perusahaan Penerbit SBSN Indonesia III            | INDOIS 4.45 02/20/29 REGS     | CUSIP: 71567RAM8<br>LEI: 254900G208H6Q0L5B953 | Long             | DBT              | NUSS              | ID        |   3050000 | NS      | $2990860.50   | 1.43%             | 2029-02-20      | Fixed         | 4.45%                 | Yes           |                  2 | On Loan: No      |
| Perusahaan Penerbit SBSN Indonesia III            | INDOIS 3.55 06/09/51 REGS     | CUSIP: 71567RAT3<br>LEI: 254900G208H6Q0L5B953 | Long             | DBT              | NUSS              | ID        |   7280000 | NS      | $5502288.58   | 2.64%             | 2051-06-09      | Fixed         | 3.55%                 | Yes           |                  2 | On Loan: No      |
| Saudi Electricity Global Sukuk Company 3          | SECO 4 04/08/24 144A          | CUSIP: 80413MAA2<br>LEI: 549300BJ6IA5S2UFVN71 | Long             | DBT              | CORP              | KY        |   1500000 | NS      | $1476846.00   | 0.71%             | 2024-04-08      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| KSA Sukuk Limited                                 | KSA 3.628 04/20/27 REGS       | CUSIP: G5321UAC1<br>LEI: 635400XBJFPNCGN9CK71 | Long             | DBT              | NUSS              | KY        |   4500000 | NS      | $4341647.95   | 2.08%             | 2027-04-20      | Fixed         | 3.63%                 | Yes           |                  2 | On Loan: No      |
| Saudi Electricity Company                         | SECO 5.06 04/08/43 REGS       | CUSIP: G781A6AB9<br>LEI: 549300NU3VI6NLNU1575 | Long             | DBT              | NUSS              | SA        |   1000000 | NS      | $933328.20    | 0.45%             | 2043-04-08      | Fixed         | 5.06%                 | Yes           |                  2 | On Loan: No      |
| ICD Sukuk Co. Ltd                                 | INVCOR 5 02/01/27 EMTN        | CUSIP: G47389AB0<br>LEI: 6354009B91BDFKBMT283 | Long             | DBT              | CORP              | KY        |   8350000 | NS      | $8268098.97   | 3.96%             | 2027-02-01      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| IDB Trust Services Ltd                            | ISDB 3.389 09/26/23           | CUSIP: G4741UBP6<br>LEI: 213800VKLEPJ95I3W549 | Long             | DBT              | NUSS              | JE        |   3500000 | NS      | $3459380.37   | 1.66%             | 2023-09-26      | Fixed         | 3.39%                 | Yes           |                  2 | On Loan: No      |
| DP World Crescent LTD                             | DPWDU 3.908 05/31/23 REGS     | CUSIP: G28288AA9<br>LEI: 21380096JRTWB8TL9236 | Long             | DBT              | CORP              | KY        |   4500000 | NS      | $4457651.82   | 2.14%             | 2023-05-31      | Fixed         | 3.91%                 | Yes           |                  2 | On Loan: No      |
| EQUATE Sukuk SPC Ltd.                             | EQPCKW 3.944 02/21/24         | CUSIP: M40519AA4<br>LEI: 635400Z3EZF2GJPTDR68 | Long             | DBT              | CORP              | AE        |   8000000 | NS      | $7839571.62   | 3.76%             | 2024-02-21      | Fixed         | 3.94%                 | Yes           |                  2 | On Loan: No      |
| Noor Sukuk Co Ltd.                                | DIBUH 4.471 04/24/23          | CUSIP: G6568MAB1<br>LEI: 5493008H7PHKEPYBEP57 | Long             | DBT              | CORP              | KY        |   1000000 | NS      | $994717.43    | 0.48%             | 2023-04-24      | Fixed         | 4.47%                 | Yes           |                  2 | On Loan: No      |
| KSA Sukuk Limited                                 | KSA 4.303 01/19/29 REGS       | CUSIP: G5321UAE7<br>LEI: 635400XBJFPNCGN9CK71 | Long             | DBT              | NUSS              | KY        |   3500000 | NS      | $3445895.85   | 1.65%             | 2029-01-19      | Fixed         | 4.30%                 | Yes           |                  2 | On Loan: No      |
| AHB Sukuk Company Ltd.                            | ALHILA 4.375 09/19/23         | CUSIP: G01369AC4<br>LEI: 5493003NGMUHC7VRYL35 | Long             | DBT              | CORP              | KY        |   1324000 | NS      | $1310106.05   | 0.63%             | 2023-09-19      | Fixed         | 4.38%                 | Yes           |                  2 | On Loan: No      |
| STC Sukuk Co Ltd.                                 | STCAB 3.89 05/13/29 REGS      | CUSIP: G7734TAB3<br>LEI: 549300XDIYY7XEYHTO45 | Long             | DBT              | CORP              | KY        |   6450000 | NS      | $6082479.00   | 2.91%             | 2029-05-13      | Fixed         | 3.89%                 | Yes           |                  2 | On Loan: No      |
| SIB Sukuk Co. III Ltd.                            | SIB 2.85 06/23/25             | CUSIP: G8118HAE7<br>LEI: 549300VEBV0EQP2FCP08 | Long             | DBT              | CORP              | KY        |   4300000 | NS      | $4047025.54   | 1.94%             | 2025-06-23      | Fixed         | 2.85%                 | Yes           |                  2 | On Loan: No      |
| Almarai Co                                        | ALMARA 4.311 03/05/24         | CUSIP: G0R9ZGAA9<br>LEI: 549300R2WJK99D0C8819 | Long             | DBT              | CORP              | SA        |   8580000 | NS      | $8424304.23   | 4.04%             | 2024-03-05      | Fixed         | 4.31%                 | Yes           |                  2 | On Loan: No      |
| QIB Sukuk Ltd.                                    | QIBKQD 3.982 03/26/24 EMTN    | CUSIP: G7304ZAT0<br>LEI: 549300XDP1VCBZLCP049 | Long             | DBT              | CORP              | KY        |   5650000 | NS      | $5546120.34   | 2.66%             | 2024-03-26      | Fixed         | 3.98%                 | Yes           |                  2 | On Loan: No      |
| MAF Sukuk Ltd.                                    | MAFUAE 4.638 05/14/29         | CUSIP: G5765UAC4<br>LEI: 549300IS9H0W5N2N4K34 | Long             | DBT              | CORP              | KY        |   3650000 | NS      | $3496245.50   | 1.68%             | 2029-05-14      | Fixed         | 4.64%                 | Yes           |                  2 | On Loan: No      |
| IDB Trust Services Ltd                            | ISDB 1.957 10/02/24           | CUSIP: G4741UBV3<br>LEI: 213800VKLEPJ95I3W549 | Long             | DBT              | NUSS              | JE        |    500000 | NS      | $473106.88    | 0.23%             | 2024-10-02      | Fixed         | 1.96%                 | Yes           |                  2 | On Loan: No      |
| DIB Sukuk Co Ltd                                  | DIBUH 2.95 02/20/25           | CUSIP: G2802SAG2<br>LEI: 549300U3ZMUHC2JQLL56 | Long             | DBT              | CORP              | KY        |   6200000 | NS      | $5887257.45   | 2.82%             | 2025-02-20      | Fixed         | 2.95%                 | Yes           |                  2 | On Loan: No      |
| MAR Sukuk Ltd.                                    | MAALRA 2.21 09/02/25          | CUSIP: G5874BAE0<br>LEI: 5493000TGLZ3JMN09026 | Long             | DBT              | CORP              | KY        |   2000000 | NS      | $1838776.42   | 0.88%             | 2025-09-02      | Fixed         | 2.21%                 | Yes           |                  2 | On Loan: No      |
| Saudi Electricity Company                         | SECO 5.5 04/08/44 REGS        | CUSIP: G781A6AD5<br>LEI: 549300BJ6IA5S2UFVN71 | Long             | DBT              | NUSS              | SA        |   2000000 | NS      | $1978616.44   | 0.95%             | 2044-04-08      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| Saudi Electricity Company                         | SECO 4 04/08/24 REGS          | CUSIP: G781A6AC7<br>LEI: 549300BJ6IA5S2UFVN71 | Long             | DBT              | NUSS              | SA        |   1200000 | NS      | $1178480.30   | 0.56%             | 2024-04-08      | Fixed         | 4.00%                 | Yes           |                  2 | On Loan: No      |
| Dubai DOF Sukuk Limited                           | DUGB 5 04/30/29               | CUSIP: G2927UAD4<br>LEI: 549300FL2U4Z16IJI576 | Long             | DBT              | CORP              | KY        |   5000000 | NS      | $5059374.10   | 2.42%             | 2029-04-30      | Fixed         | 5.00%                 | Yes           |                  2 | On Loan: No      |
| EI Sukuk Co Ltd.                                  | EIBUH 1.827 09/23/25          | CUSIP: G29511AC9<br>LEI: 549300IIDFP0RTSSG071 | Long             | DBT              | CORP              | KY        |   4000000 | NS      | $3631292.52   | 1.74%             | 2025-09-23      | Fixed         | 1.83%                 | Yes           |                  2 | On Loan: No      |
| DIFC Sukuk Ltd.                                   | DIFCAE 4.325 11/12/24         | CUSIP: M28059AA7<br>LEI: N/A                  | Long             | DBT              | CORP              | AE        |   7300000 | NS      | $7119609.50   | 3.41%             | 2024-11-12      | Fixed         | 4.33%                 | Yes           |                  2 | On Loan: No      |
| Rak Capital                                       | RAKS 3.094 03/31/25 EMTN      | CUSIP: P30473AD7<br>LEI: 549300F0KUUDMGB5G459 | Long             | DBT              | CORP              | KY        |   3950000 | NS      | $3789718.47   | 1.82%             | 2025-03-31      | Fixed         | 3.09%                 | Yes           |                  2 | On Loan: No      |
| TNB Global Ventures Capital Berhad                | TNBMK 3.244 10/19/26 EMTN     | CUSIP: Y8850AAA2<br>LEI: 5493004U8XEGPFWIBZ14 | Long             | DBT              | CORP              | MY        |   7140000 | NS      | $6600930.00   | 3.16%             | 2026-10-19      | Fixed         | 3.24%                 | Yes           |                  2 | On Loan: No      |
| Axiata SPV2 Berhad                                | AXIATA 4.357 03/24/26 EMTN    | CUSIP: Y0488DAC9<br>LEI: 254900P49KQFQ10AF282 | Long             | DBT              | CORP              | MY        |   4150000 | NS      | $4053554.00   | 1.94%             | 2026-03-24      | Fixed         | 4.36%                 | Yes           |                  2 | On Loan: No      |
| MAF Sukuk Ltd.                                    | MAFUAE 4.5 11/03/25           | CUSIP: G5765UAB6<br>LEI: 549300IS9H0W5N2N4K34 | Long             | DBT              | CORP              | KY        |   4600000 | NS      | $4464281.78   | 2.14%             | 2025-11-03      | Fixed         | 4.50%                 | Yes           |                  2 | On Loan: No      |
| Tabreed Sukuk SPC Ltd.                            | TABRED 5.5 10/31/25           | CUSIP: M8T05RAA1<br>LEI: 549300DC2NOQN38VGO16 | Long             | DBT              | CORP              | AE        |   6950000 | NS      | $6982360.80   | 3.35%             | 2025-10-31      | Fixed         | 5.50%                 | Yes           |                  2 | On Loan: No      |
| International Islamic Liquidity Management 2 S.A. | IILM 3.32 12/08/22 2227       | CUSIP: L53065HF5<br>LEI: 222100ET1519GMWAGQ46 | Long             | STIV             | NUSS              | LU        |   2000000 | NS      | $1999766.66   | 0.96%             | 2022-12-08      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| International Islamic Liquidity Management 2 S.A. | IILM 3.95 01/19/23 2230       | CUSIP: L53065HJ7<br>LEI: 222100ET1519GMWAGQ46 | Long             | STIV             | NUSS              | LU        |   3000000 | NS      | $2999465.46   | 1.44%             | 2023-01-19      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| ADIB Sukuk Company Ltd.                           | ADIBUH V7.125 PERP            | CUSIP: G0093XAA6<br>LEI: 549300IKJ30XQO8HG702 | Long             | ABS-O            | CORP              | KY        |   6200000 | NS      | $6222853.20   | 2.98%             | 2500-12-31      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| Saudi Electricity Global SUKUK Co 4               | SECO 4.222 01/27/24           | CUSIP: G7778UAD3<br>LEI: 549300KSEZC1HOYC2778 | Long             | DBT              | CORP              | KY        |   2000000 | NS      | $1975418.00   | 0.95%             | 2024-01-27      | Fixed         | 4.22%                 | Yes           |                  2 | On Loan: No      |
| Kfh Tier 1 Sukuk Limited                          | KFHKK V3.6 PERP               | CUSIP: G5258VAA0<br>LEI: 549300JVNRIBUMSCDU79 | Long             | DBT              | CORP              | KY        |   9500000 | NS      | $8793010.00   | 4.21%             | 2500-12-31      | Fixed         | 3.60%                 | Yes           |                  2 | On Loan: No      |
| DP World Salaam                                   | DPWDU V6 PERP                 | CUSIP: N/A<br>LEI: 549300SUYBT9X88E9435       | Long             | DBT              | CORP              | KY        |   4800000 | NS      | $4745241.60   | 2.27%             | 2500-12-31      | Fixed         | 6.00%                 | Yes           |                  2 | On Loan: No      |
| National Commercial Bank Tier 1 Sukuk Limited     | SNBAB V3.5 PERP               | CUSIP: G64047AA4<br>LEI: 549300DJLY2JZABDD193 | Long             | DBT              | CORP              | KY        |   5550000 | NS      | $5073810.00   | 2.43%             | 2500-12-31      | Fixed         | 3.50%                 | Yes           |                  2 | On Loan: No      |
| Malaysia Sovereign Sukuk Bhd                      | MALAYS 4.236 04/22/45 REGS    | CUSIP: Y5749LAB7<br>LEI: N/A                  | Long             | DBT              | NUSS              | MY        |   2000000 | NS      | $1868241.32   | 0.90%             | 2045-04-22      | Fixed         | 4.24%                 | Yes           |                  2 | On Loan: No      |
| Arab Banking Corp., NY Branch                     | Arab Banking Corp., NY Branch | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |   1000000 | NS      | $1000000.00   | 0.48%             |  |  |  | No            |                  2 | On Loan: No      |
| Arab Banking Corp., NY Branch                     | Arab Banking Corp., NY Branch | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |   2000000 | NS      | $2000000.00   | 0.96%             |  |  |  | No            |                  2 | On Loan: No      |
| Arab Banking Corp., NY Branch                     | Arab Banking Corp., NY Branch | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |   2000000 | NS      | $2000000.00   | 0.96%             |  |  |  | No            |                  2 | On Loan: No      |
| Gulf International Bank                           | Gulf International Bank       | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             |  | US        |   7500000 | NS      | $7500000.00   | 3.59%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

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

**Name of Applicant:** Amana Mutual Funds Trust

**Signature:** Christopher Fankhauser

**Name of Signer:** Christopher Fankhauser

**Title:** Treasurer