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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, Sextant
Bond Income Fund |
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| Corporate Bond | Quantity |
Market Value |
% Portfolio |
Maturity | Industry |
| Air Products & Chemicals | 50,000 |
$67,695 |
2.14% |
4/15/21 | Chemicals - Specialty |
| Allstate Corp. | 50,000 |
$56,786 |
1.79% |
6/15/13 | Insurance - Multi Line |
| Archer Daniels Midlands | 100,000 |
$108,547 |
3.43% |
2/1/31 | Agricultural Operations |
| AutoZone Inc. | 95,000 |
$93,025 |
2.94% |
11/15/15 | Auto Parts - Replacement |
| Avery Dennison Corp | 95,000 |
$85,100 |
2.69% |
1/15/33 | Office Equip & Supplies |
| BHP Billiton Finance USA | 125,000 |
$122,208 |
3.86% |
12/15/15 | Metal Ores - Misc |
| Baker Hughes Inc. | 20,000 |
$20,429 |
0.64% |
2/15/09 | Oil & Gas - Field Services |
| Becton Dickinson Corp. | 40,000 |
$42,807 |
1.35% |
10/1/09 | Medical - Supplies |
| Caterpillar INC | 40,000 |
$47,462 |
1.50% |
8/15/11 | Machinery - Const/Mining |
| Cingular Wireless (AT&T) | 140,000 |
$148,896 |
4.70% |
12/15/31 | Utility - Telephone |
| CitiCorp | 50,000 |
$54,908 |
1.73% |
10/15/11 | Banks - Money Center |
| Comerica Bank | 50,000 |
$50,790 |
1.60% |
12/1/13 | Banks - Midwest |
| Commonwealth Edison Corp. | 50,000 |
$54,936 |
1.73% |
7/1/13 | Utility - Electric Power |
| Conagra Inc. | 33,000 |
$36,146 |
1.14% |
9/15/10 | Food - Misc Preparation |
| Dayton Hudson Corp. (Target Stores) | 50,000 |
$59,066 |
1.86% |
1/1/11 | Retail - Discount & Variety |
| Dean Witter Discovery & Company | 50,000 |
$54,124 |
1.71% |
10/15/13 | Finance - Investment Bkrs |
| Deere & Co. | 95,000 |
$118,738 |
3.75% |
5/15/30 | Machinery - Farm |
| Federal Home Loan Mtge Corp | 100,000 |
$100,012 |
3.16% |
8/26/19 | Finance - Mrtg & R.E. Service |
| Federal Farm Credit Bank | 150,000 |
$156,307 |
4.93% |
8/15/21 | Real Estate - Operations |
| Federal National Mtge Assoc. | 100,000 |
$100,034 |
3.16% |
4/10/15 | Housing |
| Federal Nat Mortgage Assoc | 150,000 |
$152,359 |
4.81% |
11/28/17 | Finance - Mrtg & R.E. Service |
| Florida Power & Light | 100,000 |
$101,167 |
3.19% |
10/1/33 | Utility - Electric Power |
| General Electric Capital Corp | 60,000 |
$69,390 |
2.19% |
5/15/12 | Finance - Leasing Cos |
| Heinz H. J. Co. | 75,000 |
$79,129 |
2.50% |
3/15/12 | Food - Misc Preparation |
| Hershey Foods Co. | 50,000 |
$56,297 |
1.78% |
8/15/12 | Food - Confectionery |
| Lowe's Companies | 50,000 |
$55,830 |
1.76% |
6/1/10 | Buildg Prods - Retail/Whlsle |
| Masco | 60,000 |
$68,029 |
2.15% |
8/15/13 | Buildg Prods - Miscellaneous |
| May Dept. Stores | 50,000 |
$52,628 |
1.66% |
7/15/12 | Retail - Major Dept Strs |
| Norwest Financial | 50,000 |
$52,289 |
1.65% |
7/15/09 | Banks - Midwest |
| Paine Webber Group | 50,000 |
$58,620 |
1.85% |
2/15/14 | Finance - Investment Bkrs |
| Pharmacia (PFE) | 100,000 |
$115,674 |
3.65% |
12/1/18 | Medical - Drugs |
| Phillips Electronics Corp | 75,000 |
$81,356 |
2.57% |
8/15/13 | Electronics - Misc Products |
| Progressive | 75,000 |
$82,003 |
2.59% |
10/1/13 | Insurance - Propt/Casul/Title |
| St. Pauls Travelers Insurance | 125,000 |
$127,913 |
4.04% |
12/1/15 | Insurance - Propt/Casul/Title |
| Sempra Energy Corp | 50,000 |
$54,348 |
1.72% |
3/1/10 | Utility - Gas Distribution |
| Southwest Airlines | 75,000 |
$78,444 |
2.48% |
3/1/12 | Transportation - Airline |
| US T Note 5.25% 2/15/2029 | 145,000 |
$161,800 |
5.11% |
2/15/29 | U S Government |
| Wal-Mart Stores | 45,000 |
$52,083 |
1.64% |
6/1/13 | Retail - Discount & Variety |
| XL Capital (Europe) | 90,000 |
$91,446 |
2.89% |
1/15/12 | Insurance - Propt/Casul/Title |
TOTAL |
$3,168,821 |
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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
