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
International Fund |
||||
| Common Stock | Quantity |
Market Value |
% Portfolio |
Industry |
| AudioCodes Ltd. | 8,000 |
$33,840 |
0.27% |
Telecommunctns - Equip |
| Aegon NV | 5,204 |
$77,279 |
0.61% |
Insurance - Multi Line |
| Air France-KLM ADR | 4,000 |
$108,560 |
0.85% |
Transportation - Airline |
| America Movil SAB de CV ADS | 6,000 |
$362,760 |
2.85% |
Telecommunctns - Cellular |
| American Oriental Bioengineering | 15,000 |
$149,700 |
1.17% |
Medical - Biomed/Genetics |
| Anglo American PLC ADR | 6,825 |
$216,489 |
1.70% |
Metal Ores - Gold |
| Australia & New Zealand Banking | 1,000 |
$100,000 |
0.78% |
Banks - Foreign |
| AXA ADS | 4,200 |
$141,372 |
1.11% |
Banks - Foreign |
| BASF AG ADS | 1,700 |
$214,880 |
1.69% |
Chemicals - Diversified |
| BCE | 5,490 |
$198,738 |
1.56% |
Telecommunctns - Equip |
| Banco Bilbao Vizcaya Argentaria SA | 7,500 |
$153,825 |
1.21% |
Banks - Foreign |
| CRH PLC ADS | 4,000 |
$150,400 |
1.18% |
Building - Cement/Concrete/Ag |
| Cadbury Schweppes PLC ADS | 4,000 |
$179,400 |
1.41% |
Food - Confectionery |
| Canadian Pacific Railway Ltd. | 3,200 |
$234,208 |
1.84% |
Transportation - Rail |
| Canon ADS | 3,300 |
$148,038 |
1.16% |
Office Automation |
| China Mobile ADS | 2,750 |
$205,205 |
1.61% |
Telecommunctns - Cellular |
| Coca-Cola Femsa SAB de CV ADS | 4,300 |
$225,492 |
1.77% |
Beverages - Soft Drink |
| Companhia Vale do Rio Doce ADR | 6,000 |
$209,040 |
1.64% |
Metal Prods - Fabrication |
| Dassault Systems SA ADR | 3,000 |
$162,810 |
1.28% |
Computer - Software |
| Empresa Brasileira de Aeronautica | 4,400 |
$195,008 |
1.53% |
Aerospace - Aircraft |
| EnCana | 3,000 |
$228,630 |
1.79% |
Oil & Gas - Canadn Integrated |
| Enel ADS | 2,500 |
$133,500 |
1.05% |
Utility - Electric Power |
| Enersis SA ADS | 9,000 |
$141,930 |
1.11% |
Utility - Electric Power |
| Epcos AG ADS | 2,500 |
$35,125 |
0.28% |
Elec Components - Misc |
| 51job ADR | 8,000 |
$145,200 |
1.14% |
Business Services |
| GlaxoSmithKline PLC ADS | 3,000 |
$131,730 |
1.03% |
Medical - Drugs |
| Infineon Technologies AG ADR | 5,000 |
$40,350 |
0.32% |
Elec Components - Semicondtrs |
| ING Groep NV ADS | 4,000 |
$133,240 |
1.05% |
Insurance - Multi Line |
| James Hardie Industries NV ADS | 3,000 |
$82,620 |
0.65% |
Building - Resident/Commercl |
| Korea Electric Power ADS | 10,000 |
$173,100 |
1.36% |
Utility - Electric Power |
| LAN Airlines SA ADS | 17,500 |
$234,150 |
1.84% |
Transportation - Airline |
| Metso ADS | 2,100 |
$108,150 |
0.85% |
Paper & Paper Products |
| Mitsubishi UFJ Financial Group ADR | 10,000 |
$88,100 |
0.69% |
Banks - Foreign |
| Nidec ADR | 5,000 |
$82,400 |
0.65% |
Machinery - Electrical |
| Nissan Motor Ltd. ADS | 5,500 |
$99,000 |
0.78% |
Auto/Truck - Mfg Foreign |
| Nomura Holdings ADR | 10,000 |
$156,600 |
1.23% |
Finance - Investment Bkrs |
| Norsk Hydro ASA ADS | 6,000 |
$84,000 |
0.66% |
Oil & Gas - Intl Integrated |
| Novartis AG ADR | 3,000 |
$147,450 |
1.16% |
Medical - Drugs |
| Orient-Express Hotels Ltd., Class A | 5,000 |
$270,850 |
2.13% |
Hotels & Motels |
| Pearson PLC ADS | 7,000 |
$92,680 |
0.73% |
Publishing - Books |
| PT Indosat Tbk. ADR | 2,500 |
$92,875 |
0.73% |
Utility - Telephone |
| Petro-Canada | 3,200 |
$153,728 |
1.21% |
Oil & Gas - Canadn Integrated |
| Potash Corp. of Saskatchewan | 3,000 |
$476,700 |
3.74% |
Fertilizers |
| Repsol YPF ADS | 3,500 |
$120,785 |
0.95% |
Oil & Gas - Intl Integrated |
| Rio Tinto PLC ADS | 750 |
$340,838 |
2.67% |
Metal Ores - Misc |
| Ritchie Bros. Auctioneers | 3,000 |
$214,830 |
1.69% |
Building - Heavy Const |
| SK Telecom Ltd. ADR | 5,000 |
$112,000 |
0.88% |
Telecommunctns - Services |
| Satyam Computer Services ADR | 6,000 |
$149,880 |
1.18% |
Computer - Software |
| Shire PLC ADR | 2,000 |
$116,880 |
0.92% |
Medical - Drugs |
| Sony ADS | 3,000 |
$141,630 |
1.11% |
Audio/Video Home Products |
| StatoilHydo ASA ADS | 5,173 |
$157,983 |
1.24% |
Oil & Gas - Intl Integrated |
| Telecom Corp. New Zealand Ltd. ADS | 3,555 |
$54,214 |
0.43% |
Utility - Telephone |
| Telefonica SA ADS | 3,200 |
$277,568 |
2.18% |
Utility - Telephone |
| Telefonos de Mexico, Class L ADS | 5,000 |
$166,000 |
1.30% |
Utility - Telephone |
| Telus | 3,000 |
$134,100 |
1.05% |
Telecommunctns - Services |
| Tenaris SA ADR | 2,500 |
$111,125 |
0.87% |
Steel - Pipe & Tubes |
| Toronto-Dominion Bank | 2,400 |
$160,872 |
1.26% |
Banks - Foreign |
| TOTAL SA ADS | 2,600 |
$196,014 |
1.54% |
Oil & Gas - Intl Integrated |
| Transportadora de Gas del Sur SA | 1,500 |
$7,080 |
0.06% |
Utility - Gas Distribution |
| US Treasury Bill | 1,000,000 |
$997,010 |
7.82% |
|
| US Treasury Bill Due 04/17/2008 | 2,000,000 |
$1,991,733 |
15.63% |
|
| UPM-Kymmene Oyj ADS | 3,500 |
$59,850 |
0.47% |
Paper & Paper Products |
| Votorantim Celulose e Papel SA ADS | 8,000 |
$251,680 |
1.98% |
Paper & Paper Products |
| Copa Holdings SA | 5,000 |
$180,550 |
1.42% |
Transportation - Airline |
TOTAL |
$12,741,774 |
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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
