UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS
OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number: 811-05071
SATURNA INVESTMENT TRUST
(Exact Name of Registrant as Specified in Charter)
1300 N. State Street
Bellingham, Washington 98225-4730
(Address of Principal Executive Offices, including ZIP Code)
Nicholas F.
Kaiser
1300 N. State Street
Bellingham, Washington 98225-4730
(Name and Address of Agent for Service)
Registrant’s Telephone Number- (360) 734-9900
Date of fiscal year end: November
30, 2008
Date of reporting period: February 29, 2008
Item 1. Schedule
of Investments
The unaudited schedule of investments as of the
close of the reporting period is as follows:
Saturna Investment Trust, Idaho
Tax-Exempt Fund |
|||||
| Municipal Bond | Quantity |
Market Value |
% Portfolio |
Maturity | Industry |
| Ada & Canyon JSD #2 Meridian | 50,000 |
$55,285 |
0.57% |
7/30/15 | Schools |
| Ada & Canyon JSD #2 Meridian | 165,000 |
$169,325 |
1.76% |
8/15/20 | General Obligations |
| Ada & Canyon JSD #2 Merdian | 155,000 |
$158,376 |
1.64% |
8/15/21 | General Obligations |
| Washington & Adams Co.s JSDC # 432 | 100,000 |
$95,054 |
0.99% |
8/15/19 | General Obligations |
| Bingham Co. Id. SCD # 55 Blackfoot | 285,000 |
$291,712 |
3.03% |
8/1/17 | General Obligations |
| Blackfoot ID COP Series 2000 | 135,000 |
$140,442 |
1.46% |
9/1/18 | Utility - Waste Mangmt |
| Blaine County Idaho Series A | 150,000 |
$133,977 |
1.39% |
8/1/23 | General Obligations |
| Boise Co. ID SD # 73 Horseshoe Bend | 125,000 |
$126,085 |
1.31% |
7/31/10 | Schools |
| Boise City ID Gen Fund Rev | 160,000 |
$164,691 |
1.71% |
12/1/17 | Finance - Services |
| Boise City ID Gen Fund Rev | 100,000 |
$102,721 |
1.07% |
12/1/18 | Finance - Services |
| Boise State University Rev.'s Ref A | 295,000 |
$303,841 |
3.16% |
4/1/19 | State Education |
| Boise CIty Urb Ren Lease Rev | 160,000 |
$162,880 |
1.69% |
8/15/20 | Real Estate - Development |
| Boise City Urb Ren Agy Lease Rev | 90,000 |
$90,496 |
0.94% |
8/15/21 | Real Estate - Development |
| Bonneville & Bingham Co ID SCD 93 | 150,000 |
$151,718 |
1.58% |
9/15/16 | General Obligations |
| Bonneville & Bingham Co JSD #93 GO | 150,000 |
$150,284 |
1.56% |
9/15/17 | General Obligations |
| Boundary Co. ID SCD 101 | 130,000 |
$140,027 |
1.45% |
8/1/22 | General Obligations |
| Caldwell ID GO | 150,000 |
$155,294 |
1.61% |
5/15/14 | General Obligations |
| Canyon Co. ID SCD # 131 Nampa | 325,000 |
$330,918 |
3.44% |
8/15/19 | Schools |
| Canyon Co. ID SCD # 131 Nampa | 105,000 |
$105,126 |
1.09% |
8/15/23 | General Obligations |
| Canyon Co. ID SD #134 Middleton | 170,000 |
$173,494 |
1.80% |
7/31/16 | General Obligations |
| Canyon Co. Id SD #139 Vallivue | 350,000 |
$313,670 |
3.26% |
9/15/25 | Schools |
| Fremont & Madison JSD 215 St. Antho | 200,000 |
$191,134 |
1.99% |
8/15/19 | General Obligations |
| Idaho Bond Bank Authority Rev | 135,000 |
$121,856 |
1.27% |
9/1/22 | Pollution Control - Servcs |
| Idaho Bond Bank Authority | 250,000 |
$244,095 |
2.54% |
9/15/26 | Utility - Water Supply |
| Idaho Bond Bank Authority | 75,000 |
$66,831 |
0.69% |
9/15/23 | Utility - Waste Mangmt |
| Idaho Falls ID Electric | 140,000 |
$159,698 |
1.66% |
4/1/19 | Utility - Electric Power |
| Idaho Health Facs Auth Rev Ref. | 110,000 |
$111,460 |
1.16% |
12/1/14 | Medical - Hospitals |
| Idaho Health Facs Auth Corp | 115,000 |
$114,399 |
1.19% |
12/1/22 | Medical - Hospitals |
| Idaho Housing Agency | 5,000 |
$4,975 |
0.05% |
7/1/11 | Housing |
| Idaho Housing & Finance Assoc. | 100,000 |
$99,853 |
1.04% |
6/1/17 | Schools |
| Idaho State Building Authority | 95,000 |
$95,070 |
0.99% |
9/1/18 | Real Estate - Development |
| Idaho State Building Authority | 100,000 |
$100,070 |
1.04% |
9/1/21 | Real Estate - Development |
| Idaho State Building Authority | 110,000 |
$103,215 |
1.07% |
9/1/23 | Building - Resident/Commercl |
| Idaho State University Ref & Impt | 150,000 |
$150,975 |
1.57% |
4/1/17 | State Education |
| Idaho State University Rev. | 220,000 |
$207,339 |
2.15% |
4/1/24 | State Education |
| Jefferson & Madison SCD 251 Rigby | 100,000 |
$88,671 |
0.92% |
9/1/24 | General Obligations |
| Jerome ID Urban Renewal District | 200,000 |
$201,186 |
2.09% |
9/1/13 | Real Estate - Development |
| Jerome Lincoln Gooding Co's JSC 261 | 125,000 |
$118,124 |
1.23% |
9/15/18 | General Obligations |
| Jerome Lincoln Gooding Co's JSD 261 | 250,000 |
$253,960 |
2.64% |
9/15/22 | General Obligations |
| Kootenai-Shonshone Area Librarys | 220,000 |
$209,821 |
2.18% |
8/1/21 | General Obligations |
| Latah Nez Perce Clearwater JSD 283 | 190,000 |
$175,976 |
1.83% |
8/15/27 | General Obligations |
| Lemhi County ID GO | 100,000 |
$101,548 |
1.05% |
8/1/15 | General Obligations |
| Madison CO ID Hospital COP | 105,000 |
$107,022 |
1.11% |
12/1/18 | Medical - Hospitals |
| Madison Co. Id SCD # 321 Rexburg | 160,000 |
$147,120 |
1.53% |
8/15/24 | General Obligations |
| Madison Co. SD # 321 Rexburg UTGO | 250,000 |
$224,633 |
2.33% |
8/15/26 | Schools |
| Meridian ID Free Library District | 100,000 |
$100,565 |
1.04% |
8/1/15 | General Obligations |
| Minidoka & Jerome JSD # 331 | 75,000 |
$73,463 |
0.76% |
8/15/18 | General Obligations |
| Minidoka & Jerome JSD # 331 | 75,000 |
$70,496 |
0.73% |
8/15/20 | General Obligations |
| Minidoka & Jerome JSD # 331 | 160,000 |
$140,045 |
1.45% |
8/15/25 | General Obligations |
| Nampa Idaho Series B | 200,000 |
$204,838 |
2.13% |
8/1/20 | General Obligations |
| Nez Perce County (Jail) 2007 COP | 150,000 |
$139,907 |
1.45% |
2/1/21 | Municipal Leases |
| Owyhee & Canyon Co SD 370 Homedale | 160,000 |
$167,067 |
1.74% |
8/15/16 | Schools |
| Owyhee & Elmore SD 365 Grandview | 350,000 |
$310,996 |
3.23% |
8/15/27 | Schools |
| Payette Co ID SCD #373 | 100,000 |
$101,245 |
1.05% |
9/15/24 | Schools |
| Pocatello ID. Water Revenue | 350,000 |
$313,747 |
3.26% |
2/1/26 | Utility - Water Supply |
| Post Falls LID 2004-1 | 300,000 |
$300,558 |
3.12% |
5/1/21 | Real Estate - Development |
| Troy ID Sewer System | 20,000 |
$19,909 |
0.21% |
2/1/09 | Utilities - Sewer |
| Troy ID Sewer System | 20,000 |
$19,883 |
0.21% |
2/1/10 | Utilities - Sewer |
| University of Idaho Rev.s | 200,000 |
$199,992 |
2.08% |
4/1/19 | State Education |
| University of Idaho Rev's | 160,000 |
$157,715 |
1.64% |
4/1/20 | State Education |
| Valley & Adams JSD # 421 McCall | 135,000 |
$127,711 |
1.33% |
8/1/22 | General Obligations |
| Valley & Adams Co.'s JSD 421 | 290,000 |
$265,156 |
2.75% |
8/1/24 | Schools |
TOTAL |
$9,627,736 |
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Item 2. Controls and Procedures
Internal control over financial reporting is
under the supervision of the principal executive
and financial officers. On April 3, 2008,
Mr. Nicholas Kaiser (President) and Mr. Christopher
Fankhauser (Treasurer), reviewed the internal
control procedures for Saturna Investment Trust
and found them reasonable and adequate.
Item 3. Exhibits
Certification of Principal Executive Officer and Principal Financial
Officer of the Registrant as required by Rule 30a-2(a) under the Investment
Company
Act of 1940 (17 CFR 270.30a-2(a)) is attached hereto as Exhibit 99CERT.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and
the Investment Company Act of 1940, the registrant has duly caused this
report to be signed on its behalf by the undersigned, thereunto duly
authorized.
SATURNA INVESTMENT TRUST
By:
/s/ Nicholas Kaiser
Nichola Kaiser, President
Date: April 15, 2008
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By:
/s/ Nicholas Kaiser
Nicholas Kaiser, President
Date: April 15, 2008
By:
/s/ Christopher Fankhauser
Christopher Fankhauser, Treasurer
Date: April 15, 2008
