Saturna Investment Trust NPORTP Sextant Core Fund (Aug 2024 report)

Schedule

Investments

August

31,

2024

Sextant

Short-Term

Bond

Fund

August

31,

2024

Part

Continued

page.

Corporate

Bonds

Coupon

Maturity

Face

Amount

Market

Value

Percentage

Net

Assets

Communications

Koninklijke

KPN

8.375%

due

10/01/2030

300,000

355,315

3.3%

Take-Two

Interactive

Software

3.700%

due

04/14/2027

350,000

343,169

3.1%

Verizon

Communication

4.016%

due

12/03/2029

100,000

97,899

0.9%

796,383

7.3%

Consumer

Discretionary

AutoZone

3.250%

due

04/15/2025

300,000

296,337

2.7%

Lowe's

3.125%

due

09/15/2024

100,000

99,902

0.9%

O'Reilly

Automotive

3.600%

due

09/01/2027

150,000

146,486

1.4%

2.400%

due

04/23/2025

67,000

65,654

0.6%

608,379

5.6%

Consumer

Staples

Dollar

General

4.150%

due

11/01/2025

250,000

247,344

2.3%

Kroger

7.700%

due

06/01/2029

100,000

112,807

1.0%

Procter

Gamble

2.800%

due

03/25/2027

300,000

291,104

2.6%

651,255

5.9%

Financials

Bank

America

3.500%

due

04/19/2026

400,000

393,743

3.6%

JPMorgan

Chase

3.300%

due

04/01/2026

350,000

343,609

3.1%

PayPal

Holdings

2.650%

due

10/01/2026

300,000

289,846

2.7%

Visa

3.150%

due

12/14/2025

350,000

344,551

3.1%

1,371,749

12.5%

Health

Care

Biogen

4.050%

due

09/15/2025

100,000

99,162

0.9%

Johnson

2.450%

due

03/01/2026

50,000

48,777

0.5%

147,939

1.4%

Industrials

Ferguson

Finance

4.250%

due

04/20/2027

200,000

197,863

1.8%

Materials

DuPont

Nemours

4.493%

due

11/15/2025

308,000

306,826

2.8%

Technology

Microsoft

3.300%

due

02/06/2027

100,000

98,444

0.9%

NXP

BV/NXP

Funding

5.350%

due

03/01/2026

100,000

100,600

0.9%

Oracle

2.950%

due

05/15/2025

325,000

320,339

2.9%

Qualcomm

3.250%

due

05/20/2027

100,000

97,536

0.9%

616,919

5.6%

Utilities

Edison

International

3.550%

due

11/15/2024

350,000

348,528

3.2%

Exelon

Generation

3.250%

due

06/01/2025

250,000

246,495

2.2%

Florida

Power

Light

2.850%

due

04/01/2025

420,000

415,099

3.8%

United

Utilities

6.875%

due

08/15/2028

200,000

215,885

2.0%

1,226,007

11.2%

Total

Corporate

Bonds

(Cost

$5,990,357)

5,923,320

54.1%

Government

Bonds

Coupon

Maturity

Face

Amount

Market

Value

Percentage

Net

Assets

Financials

Federal

Home

Loan

Bank

5.650%

due

12/28/2026

150,000

149,824

1.4%

Schedule

Investments

August

31,

2024

Sextant

Short-Term

Bond

Fund

August

31,

2024

Part

Government

Bonds

31.1%

Coupon

Maturity

Face

Amount

Market

Value

Percentage

Net

Assets

Government

United

States

Treasury

Bond

1.500%

due

02/15/2025

600,000

591,014

5.4%

United

States

Treasury

Bond

6.125%

due

08/15/2029

100,000

110,703

1.0%

United

States

Treasury

Note

2.875%

due

04/30/2025

400,000

395,422

3.6%

United

States

Treasury

Note

2.375%

due

05/15/2027

650,000

625,727

5.7%

United

States

Treasury

Note

2.250%

due

08/15/2027

200,000

191,414

1.8%

United

States

Treasury

Note

2.250%

due

10/31/2024

600,000

597,187

5.5%

United

States

Treasury

Note

2.625%

due

12/31/2025

750,000

734,883

6.7%

3,246,350

29.7%

Total

Government

Bonds

(Cost

$3,435,319)

3,396,174

31.1%

Total

investments

(Cost

$9,425,676)

9,319,494

85.2%

Other

assets

(net

liabilities)

1,622,166

14.8%

Total

net

assets

10,941,660

100.0%

Schedule

Investments

August

31,

2024

Sextant

Bond

Income

Fund

August

31,

2024

Part

Continued

page.

Corporate

Bonds

64.9%

Coupon

Maturity

Face

Amount

Market

Value

Percentage

Net

Assets

Communications

Bellsouth

6.875%

due

10/15/2031

200,000

216,184

2.1%

Koninklijke

KPN

8.375%

due

10/01/2030

200,000

236,877

2.2%

453,061

4.3%

Consumer

Discretionary

Home

Depot

5.875%

due

12/16/2036

300,000

330,313

3.1%

Lowe's

5.800%

due

10/15/2036

250,000

267,835

2.6%

598,148

5.7%

Consumer

Staples

Kimberly

Clark

5.300%

due

03/01/2041

100,000

103,105

1.0%

Procter

Gamble

5.500%

due

02/01/2034

200,000

217,865

2.1%

Unilever

Capital

5.900%

due

11/15/2032

200,000

219,732

2.1%

540,702

5.2%

Energy

Baker

Hughes

6.875%

due

01/15/2029

100,000

109,329

1.1%

Canadian

Natural

Resources

6.450%

due

06/30/2033

225,000

242,946

2.3%

Statoil

7.150%

due

01/15/2029

224,000

249,238

2.4%

601,513

5.8%

Financials

Affiliated

Managers

Group

3.500%

due

08/01/2025

250,000

246,538

2.4%

Bank

New

York

Mellon

MTN

3.300%

due

08/23/2029

250,000

236,043

2.2%

Chubb

Ina

Holdings

4.350%

due

11/03/2045

100,000

90,068

0.9%

State

Street

(Quarterly

LIBOR

plus

100)

6.552%

due

06/15/2047

150,000

127,560

1.2%

UBS

Stamford

7.750%

due

09/01/2026

200,000

210,072

2.0%

910,281

8.7%

Health

Care

Becton

Dickinson

6.700%

due

08/01/2028

240,000

255,445

2.5%

Johnson

4.950%

due

05/15/2033

226,000

240,397

2.3%

Johnson

5.850%

due

07/15/2038

50,000

56,177

0.5%

Medtronic

4.375%

due

03/15/2035

260,000

254,809

2.4%

Merck

6.500%

due

12/01/2033

215,000

245,957

2.4%

1,052,785

10.1%

Industrials

Burlington

Northern

Santa

5.050%

due

03/01/2041

310,000

307,816

2.9%

Deere

8.100%

due

05/15/2030

95,000

113,043

1.1%

United

Technologies

6.050%

due

06/01/2036

250,000

272,950

2.6%

693,809

6.6%

Materials

Praxair

3.550%

due

11/07/2042

350,000

290,354

2.8%

Technology

Apple

4.500%

due

02/23/2036

350,000

358,117

3.4%

Intel

4.000%

due

12/15/2032

360,000

331,841

3.2%

Microsoft

5.300%

due

02/08/2041

50,000

57,319

0.5%

Microsoft

4.200%

due

11/03/2035

350,000

350,174

3.4%

1,097,451

10.5%

Utilities

Alabama

Power

4.150%

due

08/15/2044

200,000

171,610

1.7%

Florida

Power

Light

5.950%

due

10/01/2033

100,000

108,873

1.0%

Schedule

Investments

August

31,

2024

Sextant

Bond

Income

Fund

August

31,

2024

Part

Corporate

Bonds

64.9%

Coupon

Maturity

Face

Amount

Market

Value

Percentage

Net

Assets

Utilities

(continued)

Puget

Sound

Energy

4.434%

due

11/15/2041

300,000

264,226

2.5%

544,709

5.2%

Total

Corporate

Bonds

(Cost

$7,437,547)

$6,782,813

64.9%

Government

Bonds

27.3%

Coupon

Maturity

Face

Amount

Market

Value

Percentage

Net

Assets

Government

United

States

Treasury

Bond

5.250%

due

02/15/2029

170,000

181,063

1.7%

United

States

Treasury

Bond

5.375%

due

02/15/2031

400,000

437,422

4.2%

United

States

Treasury

Bond

6.250%

due

05/15/2030

75,000

84,451

0.8%

United

States

Treasury

Bond

4.250%

due

05/15/2039

770,000

786,814

7.5%

United

States

Treasury

Bond

6.125%

due

08/15/2029

225,000

249,082

2.4%

United

States

Treasury

Bond

3.125%

due

11/15/2041

145,000

125,765

1.2%

United

States

Treasury

Bond

3.375%

due

11/15/2048

560,000

478,450

4.6%

United

States

Treasury

Note

2.875%

due

05/15/2052

400,000

309,969

3.0%

United

States

Treasury

Note

2.250%

due

10/31/2024

200,000

199,062

1.9%

Total

Government

Bonds

(Cost

$3,393,706)

$2,852,078

27.3%

Total

investments

(Cost

$10,831,253)

$9,634,891

92.2%

Other

assets

(net

liabilities)

811,000

7.8%

Total

net

assets

$10,445,891

100.0%

Variable

rate

security.

The

interest

rate

represents

the

rate

effect

August

31,

2024

and

resets

periodically

based

the

parenthetically

disclosed

reference

rate

and

spread.

LIBOR:

London

Interbank

Offered

Rates

MTN:

Medium

Term

Note

Schedule

Investments

August

31,

2024

Sextant

Core

Fund

August

31,

2024

Part

Continued

page.

Common

Stock

60.5%

Number

Market

Value

Country

Percentage

Net

Assets

Communications

Internet

Media

Services

Alphabet,

Class

2,650

432,957

United

States

1.6%

Meta

Platforms

Inc,

Class

2,800

1,459,668

2.0%

6,635,546

9.2%

Consumer

Discretionary

Automotive

Retailers

O'Reilly

Automotive

1,300

1,468,961

2.0%

Home

Products

Stores

Lowe's

5,600

1,391,600

1.9%

Online

Marketplace

Amazon.com

26,980

4,815,930

6.7%

Specialty

Apparel

Stores

Lululemon

Athletica

3,000

778,410

1.1%

TJX

Companies

19,000

2,228,130

3.1%

3,006,540

4.2%

10,683,031

14.8%

Consumer

Staples

Mass

Merchants

Costco

Wholesale

3,509

3,131,361

4.3%

Non-Alcoholic

Beverages

Monster

Beverage

32,200

1,517,586

2.1%

4,648,947

6.4%

Financials

Other

Financial

Services

Mastercard,

Class

5,746

2,777,272

3.8%

Health

Care

Managed

Care

Elevance

Health

2,250

1,253,003

1.8%

Medical

Devices

Boston

Scientific

22,000

1,799,380

2.5%

Edwards

Lifesciences

10,500

734,580

1.0%

Stryker

3,000

1,081,260

1.5%

3,615,220

5.0%

Specialty

Generic

Pharma

Zoetis

6,000

1,100,940

1.5%

5,969,163

8.3%

Industrials

Commercial

Residential

Building

Equipment

Systems

Johnson

Controls

International

22,500

1,639,125

2.3%

Industrial

Wholesale

Rental

Ferguson

Enterprises

Inc

6,250

1,285,688

1.8%

Infrastructure

Construction

Quanta

Services

5,000

1,375,650

1.9%

4,300,463

6.0%

Schedule

Investments

August

31,

2024

Sextant

Growth

Fund

August

31,

2024

Part

Common

Stock

98.3%

Number

Market

Value

Percentage

Net

Assets

Materials

Agricultural

Chemicals

Corteva

22,550

1,292,115

1.8%

Technology

Application

Software

Adobe

4,450

2,556,124

3.5%

Communications

Equipment

Apple

28,800

6,595,200

9.1%

Motorola

Solutions

6,000

2,652,240

3.7%

9,247,440

12.8%

Infrastructure

Software

Microsoft

18,170

7,579,434

10.5%

Oracle

17,500

2,472,575

3.4%

ServiceNow

1,900

1,624,500

2.3%

11,676,509

16.2%

Semiconductor

Devices

Advanced

Micro

Devices

9,500

1,411,320

2.0%

Broadcom

12,750

2,075,955

2.9%

Monolithic

Power

Systems

1,100

1,028,148

1.4%

NVIDIA

35,000

4,177,950

5.8%

Qualcomm

7,900

1,384,870

1.9%

Texas

Instruments

5,100

1,093,134

1.5%

11,171,377

15.5%

34,651,450

48.0%

Total

investments

(Cost

$25,206,816)

70,957,987

98.3%

Other

assets

(net

liabilities)

1,251,333

1.7%

Total

net

assets

72,209,320

100.0%

Non-income

producing

Schedule

Investments

August

31,

2024

Sextant

International

Fund

August

31,

2024

Part

Continued

page.

Common

Stock

Number

Market

Value

Country

Percentage

Net

Assets

Consumer

Discretionary

Apparel,

Footwear

Accessory

Design

Hermes

International

600

1,438,032

France

1.8%

Online

Marketplace

MercadoLibre

2,990

6,164,363

Argentina

7.8%

7,602,395

9.6%

Consumer

Staples

Packaged

Food

Danone

15,000

1,043,724

France

1.3%

Personal

Care

Products

L'Oreal

2,000

878,704

France

1.1%

1,922,428

2.4%

Health

Care

Health

Care

Supplies

Alcon

24,550

2,398,044

Switzerland

3.1%

Large

Pharma

AstraZeneca

ADR

19,500

1,708,590

United

States

2.2%

Novartis

ADR

8,775

1,060,810

Switzerland

1.3%

Novo

Nordisk

ADR

54,575

7,594,657

Denmark

9.6%

10,364,057

13.1%

Medical

Equipment

Dentium

Ltd

10,300

617,871

Korea

0.8%

Siemens

Healthineers

31,850

1,858,760

Germany

2.3%

2,476,631

3.1%

15,238,732

19.3%

Industrials

Commercial

Residential

Building

Equipment

Systems

Assa

Abloy

51,400

1,665,087

Sweden

2.1%

Johnson

Controls

International

26,450

1,926,883

United

States

2.4%

3,591,970

4.5%

Electrical

Power

Equipment

Eaton

6,725

2,064,104

Ireland

2.6%

Fuji

Electric

Co.,

Ltd.

21,400

1,296,910

Japan

1.6%

Schneider

Electric

8,200

2,094,669

France

2.7%

5,455,683

6.9%

Industrial

Automation

Controls

ABB

Ltd

26,000

1,497,996

Switzerland

1.9%

Industrial

Wholesale

Rental

Ferguson

Enterprises

Inc

14,560

2,995,138

United

States

3.8%

Rail

Freight

Canadian

National

Railway

3,670

432,399

Canada

0.6%

13,973,186

17.7%

Materials

Basic

Diversified

Chemicals

Linde

5,500

2,630,375

United

Kingdom

3.3%

Iron

BHP

Biliton

ADR

17,000

937,210

Australia

1.2%

Rio

Tinto

ADR

32,800

2,075,256

United

Kingdom

2.6%

3,012,466

3.8%

Schedule

Investments

August

31,

2024

Sextant

International

Fund

August

31,

2024

Part

Common

Stock

98.8%

Number

Market

Value

Country

Percentage

Net

Assets

Materials

(continued)

Specialty

Chemicals

Givaudan

(reg)

200

1,029,208

Switzerland

1.3%

6,672,049

8.4%

Technology

Application

Software

Dassault

Systemes

ADR

88,115

3,433,841

France

4.4%

NICE

Systems

ADR

17,350

3,014,389

Israel

3.8%

OpenText

40,700

1,295,074

Canada

1.7%

SAP

ADR

14,500

3,185,795

Germany

4.0%

10,929,099

13.9%

Consumer

Electronics

Nintendo

17,000

928,247

Japan

1.2%

Services

Accenture,

Class

2,450

837,777

Ireland

1.1%

Experian

33,000

1,604,571

Ireland

2.0%

Wolters

Kluwer

31,000

5,308,442

Netherlands

6.7%

7,750,790

9.8%

Semiconductor

Devices

Infineon

Technologies

34,850

1,280,708

Germany

1.6%

STMicroelectronics

ADR

41,700

1,332,315

Switzerland

1.7%

2,613,023

3.3%

Semiconductor

Manufacturing

ASML

Holding

5,445

4,921,572

Netherlands

6.2%

Taiwan

Semiconductor

ADR

23,320

4,004,044

Taiwan

5.1%

8,925,616

11.3%

31,146,775

39.5%

Utilities

Power

Generation

Iberdrola

107,385

1,525,724

Spain

1.9%

Total

investments

(Cost

$39,351,892)

78,081,289

98.8%

Other

assets

(net

liabilities)

920,415

1.2%

Total

net

assets

79,001,704

100.0%

Country

domicile

Non-income

producing

ADR:

American

Depositary

Receipt

Schedule

Investments

August

31,

2024

Sustainable

Equity

Fund

August

31,

2024

Part

Continued

page.

Common

Stock

88.0%

Number

Market

Value

Country

Percentage

Net

Assets

Consumer

Discretionary

Home

Products

Stores

Home

Depot

1,500

552,750

United

States

2.1%

Lowe's

2,400

596,400

United

States

2.3%

1,149,150

4.4%

Specialty

Apparel

Stores

Lululemon

Athletica

900

233,523

United

States

0.9%

TJX

Companies

5,000

586,350

United

States

2.3%

819,873

3.2%

1,969,023

7.6%

Consumer

Staples

Packaged

Food

Danone

ADR

31,200

432,744

France

1.7%

Personal

Care

Products

Haleon

ADR

11,500

117,070

United

Kingdom

0.5%

Kenvue

4,289

94,144

United

States

0.4%

L'Oreal

ADR

5,400

472,932

France

1.8%

Reckitt

Benckiser

Group

ADR

16,700

193,052

United

Kingdom

0.7%

Unicharm

ADR

40,500

280,665

Japan

1.1%

Unilever

ADR

6,600

427,614

United

Kingdom

1.6%

1,585,477

6.1%

2,018,221

7.8%

Financials

Consumer

Finance

Paypal

2,900

210,047

United

States

0.8%

Life

Insurance

Aviva

ADR

45,600

614,688

United

Kingdom

2.3%

Other

Financial

Services

Mastercard,

Class

860

415,672

United

States

1.6%

P&C

Insurance

Chubb

2,000

568,360

Switzerland

2.2%

1,808,767

6.9%

Health

Care

Large

Pharma

Eli

Lilly

900

864,018

United

States

3.3%

GlaxoSmithKline

ADR

9,200

403,972

United

Kingdom

1.6%

Novartis

ADR

4,300

519,827

Switzerland

2.0%

Novo

Nordisk

ADR

10,200

1,419,432

Denmark

5.4%

Roche

Holding

ADR

9,000

380,970

Switzerland

1.5%

Sandoz

Group

AG-ADR

860

37,857

Switzerland

0.1%

3,626,076

13.9%

Industrials

Commercial

Residential

Building

Equipment

Systems

Assa

Abloy

ADR

44,500

715,115

Sweden

2.7%

Legrand

6,200

695,367

France

2.6%

1,410,482

5.3%

Electrical

Components

Connectivity

3,200

491,520

Switzerland

1.9%

Electrical

Power

Equipment

Schneider

Electric

ADR

17,100

867,996

France

3.4%

Schedule

Investments

August

31,

2024

Sustainable

Equity

Fund

August

31,

2024

Part

Common

Stock

88.0%

Number

Market

Value

Country

Percentage

Net

Assets

Industrials

(continued)

Electrical

Power

Equipment

(continued)

Siemens

ADR

5,300

499,154

Germany

1.9%

1,367,150

5.3%

Industrial

Wholesale

Rental

Ferguson

Enterprises

Inc

2,500

514,275

United

States

2.0%

3,783,427

14.5%

Materials

Agricultural

Chemicals

Corteva

3,000

171,900

United

States

0.7%

Specialty

Chemicals

Ecolab

1,500

379,770

United

States

1.4%

551,670

2.1%

Technology

Application

Software

Adobe

1,000

574,410

United

States

2.2%

Dassault

Systemes

ADR

9,100

354,627

France

1.4%

929,037

3.6%

Communications

Equipment

Apple

3,028

693,412

United

States

2.7%

Consumer

Electronics

Nintendo

ADR

56,625

770,100

Japan

2.9%

Sony

ADR

4,000

390,240

Japan

1.5%

1,160,340

4.4%

Electronics

Components

Murata

Manufacturing

12,000

252,537

Japan

1.0%

Infrastructure

Software

Microsoft

1,438

599,847

United

States

2.3%

ServiceNow

650

555,750

United

States

2.1%

1,155,597

4.4%

Services

Accenture,

Class

1,600

547,120

Ireland

2.1%

CGI

Group

Class

6,000

675,977

Canada

2.6%

Wolters

Kluwer

5,000

856,200

Netherlands

3.3%

2,079,297

8.0%

Semiconductor

Devices

NVIDIA

10,000

1,193,700

United

States

4.6%

NXP

Semiconductors

1,960

502,466

Netherlands

1.9%

STMicroelectronics

ADR

9,000

287,550

Switzerland

1.1%

1,983,716

7.6%

Semiconductor

Manufacturing

Taiwan

Semiconductor

ADR

5,325

914,303

Taiwan

3.5%

9,168,239

35.2%

Total

investments

(Cost

$14,043,611)

$22,925,423

88.0%

Other

assets

(net

liabilities)

3,136,421

12.0%

Total

net

assets

$26,061,844

100.0%

Country

domicile

unless

otherwise

indicated

Non-income

producing

ADR:

American

Depositary

Receipt

Schedule

Investments

August

31,

2024

Sustainable

Bond

Fund

August

31,

2024

Part

Continued

page.

Corporate

Bonds

66.5%

Coupon

Maturity

Face

Amount

Market

Value

Country

Percentage

Net

Assets

Communications

Koninklijke

KPN

8.375%

due

10/01/2030

750,000

888,288

Netherlands

2.6%

Consumer

Discretionary

Starbucks

2.450%

due

06/15/2026

1,200,000

1,159,707

United

States

3.4%

Consumer

Staples

Coty

4.750%

due

04/15/2026

EUR

750,000

827,848

United

States

2.4%

Coty

5.000%

due

04/15/2026

131,000

130,396

United

States

0.4%

Natura

Cosmeticos

4.125%

due

05/03/2028

1,000,000

914,842

Brazil

2.7%

1,873,086

5.5%

Financials

AXA

2,4

5.125%

due

01/17/2027

1,700,000

1,697,110

France

4.9%

Canadian

Imperial

Bank

4.375%

due

10/28/2080

CAD

2,100,000

1,528,653

Canada

4.5%

Commonwealth

Bank

Australia

(Quarterly

BBSW

plus

0.41%)

4.731%

due

12/23/2026

AUD

850,000

572,872

Australia

1.7%

First

Abu

Dhabi

Bank

PJSC

5.125%

due

10/13/2027

1,250,000

1,268,635

United

Arab

Emirates

3.7%

MAF

Sukuk

4.638%

due

05/14/2029

800,000

795,319

United

Arab

Emirates

2.3%

Munich

2,7

1.000%

due

05/26/2042

EUR

1,800,000

1,614,906

Germany

4.7%

State

Street

(Quarterly

LIBOR

plus

100)

6.552%

due

06/15/2047

1,500,000

1,275,601

United

States

3.7%

Toronto-Dominion

Bank

1.128%

due

12/09/2025

CAD

500,000

357,683

Canada

1.0%

Women's

Livelihood

Bond

Asset

3.950%

due

12/10/2024

600,000

573,728

Singapore

1.7%

Women's

Livelihood

Bond

Asset

3.900%

due

12/23/2025

500,000

471,157

Singapore

1.4%

10,155,664

29.6%

Health

Care

Koninklijke

Philips

7.125%

due

05/15/2025

1,000,000

1,011,272

Netherlands

2.9%

Novartis

Capital

3.000%

due

11/20/2025

250,000

245,997

Switzerland

0.7%

Roche

2.625%

due

05/15/2026

200,000

194,609

Switzerland

0.6%

1,451,878

4.2%

Industrials

Odfjell

(Quarterly

NIBOR

plus

5.75%)

2,6

10.260%

due

01/21/2025

NOK

6,000,000

577,051

Norway

1.7%

Materials

Stora

Enso

OYJ

7.250%

due

04/15/2036

300,000

329,151

Finland

1.0%

Stora

Enso

OYJ

7.250%

due

04/15/2036

200,000

219,434

Finland

0.6%

548,585

1.6%

Real

Estate

Iron

Mountain

PLC

3.875%

due

11/15/2025

GBP

500,000

645,130

United

States

1.9%

MAF

Global

Securities

2,8,9

7.875%

due

PERP

1,200,000

1,239,206

United

Arab

Emirates

3.6%

Prologis

1.250%

due

10/15/2030

500,000

416,318

United

States

1.2%

2,300,654

6.7%

Technology

Microsoft

5.300%

due

02/08/2041

500,000

573,190

United

States

1.7%

Nokia

OYJ

2.375%

due

05/15/2025

EUR

1,000,000

1,095,836

Finland

3.2%

Nokia

OYJ

4.375%

due

08/21/2031

EUR

250,000

284,376

Finland

0.8%

RELX

4.000%

due

03/18/2029

400,000

393,178

United

Kingdom

1.1%

2,346,580

6.8%

Utilities

United

Utilities

6.875%

due

08/15/2028

1,400,000

1,511,194

United

Kingdom

4.4%

Total

Corporate

Bonds

(Cost

$23,042,294)

$22,812,687

66.5%

Schedule

Investments

August

31,

2024

Sustainable

Bond

Fund

August

31,

2024

Part

Continued

page.

Government

Bonds

26.7%

Coupon

Maturity

Face

Amount

Market

Value

Country

Percentage

Net

Assets

Financials

Federal

Home

Loan

Bank

1.650%

due

10/06/2031

500,000

420,802

United

States

1.3%

Government

Asian

Development

Bank

6.000%

due

02/05/2026

BRL

3,000,000

499,508

Philippines

1.5%

European

Recon

Dev

5.000%

due

01/27/2025

BRL

3,000,000

520,267

United

Kingdom

1.5%

Export-Import

Bank

Korea

5.125%

due

01/11/2033

500,000

518,775

Korea

1.5%

Inter-American

Devel

7.500%

due

12/05/2024

MXN

30,000,000

1,506,638

United

States

4.4%

International

Finance

12.000%

due

11/03/2027

COP

3,000,000,000

775,530

United

States

2.3%

Int'l

Recon

Develop

4.250%

due

01/22/2026

MXN

15,000,000

704,528

Germany

2.0%

Int'l

Recon

Develop

5.000%

due

10/07/2026

COP

6,000,000,000

1,317,675

Germany

3.8%

Ontario

2.650%

due

02/05/2025

CAD

500,000

368,687

Canada

1.1%

Perusahaan

Penerbit

SBSN

3.550%

due

06/09/2051

500,000

386,120

Indonesia

1.1%

Queensland

Treasury

2.500%

due

03/06/2029

AUD

750,000

476,511

Australia

1.4%

Republic

Chile

4.340%

due

03/07/2042

500,000

449,366

Chile

1.3%

United

Kingdom

Gilt

0.875%

due

07/31/2033

GBP

250,000

252,669

United

Kingdom

0.7%

United

States

Cash

Management

Bill

–%

due

09/19/2024

500,000

498,838

United

States

1.5%

United

States

Treasury

Bond

3.250%

due

05/15/2042

500,000

436,445

United

States

1.3%

8,711,557

25.4%

Total

Government

Bonds

(Cost

$9,551,315)

$9,132,359

26.7%

Municipals

Bonds

2.9%

Coupon

Maturity

Face

Amount

Market

Value

Country

Percentage

Net

Assets

Real

Estate

New

York

City

Hsg

Dev

Corp

3.300%

due

05/01/2062

1,000,000

United

States

2.9%

Total

Municipals

Bonds

(Cost

$1,000,000)

$1,000,000

2.9%

Total

investments

(Cost

$33,593,609)

$32,945,046

96.1%

Other

assets

(net

liabilities)

1,342,832

3.9%

Total

net

assets

$34,287,878

100.0%

Denotes

country

region

primary

exposure

Security

was

purchased

pursuant

Regulation

under

the

Securities

Act

1933

which

exempts

from

registration

securities

offered

and

sold

outside

the

United

States.

Such

security

cannot

sold

the

United

States

without

either

effective

registration

statement

filed

pursuant

the

Securities

Act

1933,

pursuant

exemption

from

registration.

These

Securities

have

been

deemed

liquid

under

guidelines

approved

the

Trust's

Board

Trustees.

August

31,

2024,

the

aggregate

value

these

securities

was

$11,847,551

representing

34.5%

total

net

assets.

Security

was

purchased

pursuant

Rule

144A

under

the

Securities

Act

1933

and

may

sold

transactions

exempt

from

registration

only

qualified

institutional

buyers

public

offering

registered

under

the

Securities

Act

1933.

These

securities

have

been

deemed

liquid

under

guidelines

approved

the

Trust's

Board

Trustees.

August

31,

2024,

the

aggregate

value

these

securities

was

$1,589,324

representing

4.6

total

net

assets.

AXA

fixed

float

bond.

The

bond

has

fixed

rate

until

01/17/2027.

The

interest

rate

represents

the

rate

effect

August

31,

2024.

Canadian

Imperial

Bank

fixed

float

bond.

The

bond

has

fixed

rate

until

10/28/2025.

The

interest

rate

represents

the

rate

effect

August

31,

2024.

Variable

rate

security.

The

interest

rate

represents

the

rate

effect

August

31,

2024

and

resets

periodically

based

the

parenthetically

disclosed

reference

rate

and

spread.

Munich

fixed

float

bond.

The

bond

has

fixed

rate

until

05/26/2032.

The

interest

rate

represents

the

rate

effect

August

31,

2024.

Security

perpetual

nature

with

stated

maturity

date.

Coupon

rates

for

floating

and

adjustable

rate

securities

reflect

the

rates

effect

period

end.

Country

domicile

LIBOR:

London

Interbank

Offered

Rates

PCL:

Public

Company

Limited

SA:

Special

Assessment

AUD

Australia

Dollar

BRL

Brazil

Real

CAD

Canada

Dollar

COP

Colombia

Peso

EUR

Euro

Dollar

Schedule

Investments

August

31,

2024

Sustainable

Bond

Fund

August

31,

2024

Part

GBP

United

Kingdom

Pound

MXN

Mexico

Nuevo

Peso

NOK

Norway

Krone

USD

United

States

Dollar

Notes

Financial

Statements

August

31,

2024

Part

Note

–

Organization

Saturna

Investment

Trust

(the

“Trust”)

was

established

under

Washington

State

Law

business

trust

February

20,

1987.

Note

–

Significant

Accounting

Policies

Security

valuation:

Under

procedures

approved

the

Trust’s

Board

Directors,

Saturna

Capital,

the

Trust’s

investment

adviser

and

administrator,

has

formed

Pricing

Committee

administer

the

pricing

and

valuation

portfolio

securities,

including

valuation

securities

for

which

market

quotations

are

not

readily

available.

Investments

securities

traded

national

securities

exchange

and

over-the-counter

securities

for

which

sale

prices

are

available

are

valued

that

price.

Securities

for

which

there

are

sales

are

valued

the

latest

bid

price.

Debt

securities

are

valued

using

bid-side

valuations

provided

independent

service.

The

service

determines

valuations

using

factors

such

yields

prices

bonds

comparable

quality,

type

issue,

coupon

maturity,

ratings,

trading

activity,

and

general

market

conditions.

Fixed-income

debt

instruments,

such

commercial

paper,

bankers’

acceptances

and

Treasury

Bills,

with

maturity

days

less

are

valued

amortized

cost,

which

approximates

market

value.

Any

discount

premium

accreted

amortized

straight-line

basis

until

maturity.

Foreign

markets

may

before

the

time

which

the

Funds’

prices

are

determined.

Because

this,

events

occurring

after

the

and

before

the

determination

the

Funds’

prices

may

have

material

effect

the

values

some

all

the

Funds’

foreign

securities.

account

for

this,

the

Funds

may

use

outside

pricing

services

for

valuation

their

non-US

securities.

cases

which

there

not

readily

available

market

price,

fair

value

for

such

security

determined

good

faith

under

the

direction

the

Board

Trustees.

Security

transactions

are

recorded

the

trade

date.

Realized

gains

and

losses

sales

securities

are

recorded

the

identified

cost

basis.

Fair

value

measurements:

Accounting

Standards

Codification

(ASC)

820

establishes

three-

tier

framework

for

measuring

fair

value

based

hierarchy

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

determining

the

value

the

Funds’

investments

and

are

summarized

below.

Level

−

Unadjusted

quoted

prices

active

markets

for

identical

assets

liabilities

that

the

Trust

has

the

ability

access.

Level

−

Observable

inputs

other

than

quoted

prices

Level

that

are

observable

for

the

asset

liability,

either

directly

indirectly.

These

inputs

may

include

quoted

prices

for

the

identical

instrument

inactive

market,

prices

for

similar

instruments,

interest

rates,

prepayment

speeds,

credit

risk,

yield

curves,

default

rates,

and

similar

data.

Level

−

Unobservable

inputs

for

the

asset

liability,

the

extent

relevant

observable

inputs

are

not

available,

representing

the

Trust’s

own

assumptions

about

the

assumptions

market

participant

would

use

valuing

the

asset

liability,

and

would

based

the

best

information

available.

The

availability

observable

inputs

can

vary

from

security

and

affected

wide

variety

factors,

including,

for

example,

the

type

security,

whether

the

security

new

and

not

yet

established

the

marketplace,

the

liquidity

markets,

and

other

characteristics

particular

the

security.

the

extent

that

valuation

based

models

inputs

that

are

less

observable

unobservable

the

market,

the

determination

fair

value

requires

judgment.

Accordingly,

the

degree

judgment

exercised

determining

fair

value

greatest

for

instruments

categorized

Level

The

inputs

used

measure

fair

value

may

fall

into

different

levels

the

fair

value

hierarchy.

such

cases,

for

disclosure

purposes,

the

level

the

fair

value

hierarchy

within

which

the

fair

value

measurement

falls

its

entirety,

determined

based

the

lowest

level

input

that

significant

the

fair

value

measurement

its

entirety.

The

inputs

methodology

used

for

valuing

securities

are

not

necessarily

indication

the

risk

associated

with

investing

those

securities.

The

following

summary

the

inputs

used

August

31,

2024

valuing

the

Funds’

investments

carried

fair

value.

Valuation

Inputs

August

31,

2024

Level

Funds

Quoted

Price

Significant

Observable

Input

Significant

Unobservable

Input

Total

Short-Term

Bond

Fund

Corporate

Bonds

$–

$5,923,320

$–

$5,923,320

Government

Bonds

$–

$3,396,174

$–

$3,396,174

Total

Assets

$–

$9,319,494

$–

$9,319,494

Bond

Income

Fund

Corporate

Bonds

$–

$6,782,813

$–

$6,782,813

Government

Bonds

$–

$2,852,078

$–

$2,852,078

Total

Assets

$–

$9,634,891

$–

$9,634,891

Core

Fund

Notes

Financial

Statements

(continued)

August

31,

2024

Part

Common

Stock

Communications

$558,071

$–

$558,071

Consumer

Discretionary

$980,122

$322,709

$–

$1,302,831

Consumer

Staples

$1,146,220

$–

$1,146,220

Energy

$520,140

$–

$520,140

Financials

$828,213

$230,186

$–

$1,058,399

Health

Care

$2,020,507

$–

$2,020,507

Industrials

$2,176,643

$618,821

$–

$2,795,464

Materials

$679,448

$629,887

$–

$1,309,335

Technology

$4,028,833

$325,640

$–

$4,354,473

Utilities

$952,172

$–

$952,172

Total

Common

Stock

$13,890,369

$2,127,243

$–

$16,017,612

Corporate

Bonds

$–

$4,780,788

$–

$4,780,788

Government

Bonds

$–

$680,743

$–

$680,743

Municipals

Bonds

$–

$106,912

$–

$106,912

Total

Assets

$13,890,369

$7,695,686

$–

$21,586,055

Global

High

Income

Fund

Common

Stock

Communications

$733,010

$248,073

$–

$981,083

Consumer

Discretionary

$–

$159,862

$–

$159,862

Energy

$428,113

$–

$428,113

Financials

$536,430

$386,027

$–

$922,457

Health

Care

$587,640

$22,010

$–

$609,650

Materials

$1,020,403

$195,552

$–

$1,215,955

Technology

$252,700

$273,014

$–

$525,714

Total

Common

Stock

$3,558,296

$1,284,538

$–

$4,842,834

Corporate

Bonds

$–

$2,833,151

$–

$2,833,151

Government

Bonds

$–

$249,442

$–

$249,442

Municipals

Bonds

$–

$50,002

$–

$50,002

Total

Assets

$3,558,296

$4,417,133

$–

$7,975,429

Growth

Fund

Common

Stock

$70,957,987

$–

$70,957,987

Total

Assets

$70,957,987

$–

$70,957,987

International

Fund

Common

Stock

Consumer

Discretionary

$6,164,363

$1,438,032

$–

$7,602,395

Consumer

Staples

$–

$1,922,428

$–

$1,922,428

Health

Care

$12,762,101

$2,476,631

$–

$15,238,732

Industrials

$7,418,524

$6,554,662

$–

$13,973,186

Materials

$5,642,841

$1,029,208

$–

$6,672,049

Technology

$22,024,807

$9,121,968

$–

$31,146,775

Utilities

$–

$1,525,724

$–

$1,525,724

Total

Common

Stock

$54,012,636

$24,068,653

$–

$78,081,289

Total

Assets

$54,012,636

$24,068,653

$–

$78,081,289

Sustainable

Equity

Fund

Common

Stock

Consumer

Discretionary

$1,969,023

$–

$1,969,023

Consumer

Staples

$2,018,221

$–

$2,018,221

Financials

$1,808,767

$–

$1,808,767

Health

Care

$3,626,076

$–

$3,626,076

Industrials

$3,088,060

$695,367

$–

$3,783,427

Materials

$551,670

$–

$551,670

Technology

$8,059,502

$1,108,737

$–

$9,168,239

Total

Common

Stock

$21,121,319

$1,804,104

$–

$22,925,423

Total

Assets

$21,121,319

$1,804,104

$–

$22,925,423

Sustainable

Bond

Fund

Corporate

Bonds

$–

$22,812,687

$–

$22,812,687

Note

–

Significant

Accounting

Policies

(continued)

Notes

Financial

Statements

(continued)

August

31,

2024

Part

The

following

reconciliation

assets

and

liabilities

for

which

Level

inputs

were

used

determining

value.

The

following

quantitative

information

about

significant

unobservable

inputs

(Level

for

the

Company

August

31,

2024.

Government

Bonds

Financials

$–

$420,802

$–

$420,802

Government

$–

$7,936,027

$775,530

$8,711,557

Total

Government

Bonds

$–

$8,356,829

$775,530

$9,132,359

Municipals

Bonds

$–

$1,000,000

$–

$1,000,000

Total

Assets

$–

$32,169,516

$775,530

$32,945,046

See

the

Schedule

Investments

for

additional

details.

Corporate

Bonds

Beginning

Balance

$816,083

Total

realized

gain

(loss)

Change

unrealized appreciation

(depreciation)

$(40,553)

Net

purchases

Net

Sales

Transfers

into

Level

Transfers

out

Level

Ending

Balance

$775,530

Asset

Saturna Investment Trust (SSGFX) NPORT-PSextant Core Fund (Aug 2024 report)