Investment Objective
Long-term appreciation and capital preservation.
Investment Approach
The Core Fund invests in a mix of equity and debt securities. It normally invests 40% of its assets in equity securities of US companies, 20% in foreign equity securities, and 40% in investment-grade fixed-income securities (those rated BBB or higher, including government and convertible bonds) including money market instruments and cash. When selecting equities, the Fund follows a value investing approach and principally invests in income-producing securities of companies in mature markets with market capitalizations greater than $5 billion. When selecting fixed-income securities, the Fund may utilize a blend of US government securities, US-dollar issues of foreign governments, and investment grade corporate debt securities, as well as money market instruments. The Fund seeks to maintain a dollar weighted average effective maturity for its fixed-income portfolio of 5-10 years, with the aim of managing portfolio volatility and liquidity.
|
Ticker | 3 Month | 6 Month | YTD |
|---|---|---|---|---|
| Saturna Core | SCORX | -0.72% | -2.94% | -0.72% |
| Dow Jones Moderate Portfolio Index | P60GLB | 0.14% | -1.61% | 0.14% |
| S&P Global 1200 Index | SPG1200T | -1.22% | -1.77% | -1.22% |
| Bloomberg US Aggregate Index Index | LBUSTRUU | 2.78% | -0.37% | 2.78% |
| 60% / 40% S&P Global 1200 Index / Bloomberg US Aggregate Index Index | 6040SPBL | 0.40% | -1.16% | 0.40% |
| Bloomberg Global Equity/Fixed Income 60/40 Index | BMADM64 | 0.03% | -2.01% | 0.03% |
| Bloomberg Developed Markets Large & Mid Cap Index | DMTR | -1.75% | -1.75% | -1.75% |
|
The Dow Jones Moderate Portfolio Index is a broad-based index of stock and bond prices that reflects no deductions for fees, expenses, or taxes. Investors cannot invest directly in the index. The S&P Global 1200 Index is a global stock market index covering nearly 70% of the world’s equity markets. 60% / 40% S&P Global 1200 Index / Bloomberg US Aggregate Index blends the S&P Global 1200 Index with the Bloomberg US Aggregate Index by weighting their total returns at 60% and 40%, respectively. The blend is rebalanced monthly and results reflect the reinvestment of dividends gross of foreign withholding taxes. The Bloomberg Global Agg Index is a flagship measure of global investment grade debt from a multitude of local currency markets. This multi-currency benchmark includes treasury, government-related, corporate and securitized fixed-rate bonds from both developed and emerging market issuers. Bloomberg Developed Markets Large & Mid Cap Total Return Index is a flot market-cap-weighted equity benchmark that covers the top 85% of market cap of the measured market. Bloomberg Global EQ:FI 60:40 Index is designed to measure cross-asset market performance globally. The index rebalances monthly to 60% equities and 40% fixed income. The equities and fixed income are represented by Bloomberg Developed Markets Large & Mid Cap Total Return. | ||||
|
Ticker | 1 Year | 3 Year | 5 Year | 10 Year | Expense Ratio2 | 30-Day Yield1 |
|---|---|---|---|---|---|---|---|
| Saturna Core | SCORX | 3.79% | 3.76% | 8.56% | 5.58% | 0.74% | 1.53% |
| Dow Jones Moderate Portfolio Index | P60GLB | 4.78% | 3.16% | 8.53% | 5.59% | n/a | n/a |
| S&P Global 1200 Index | SPG1200T | 7.74% | 8.17% | 16.40% | 10.07% | n/a | n/a |
| Bloomberg US Aggregate Index Index | LBUSTRUU | 4.88% | 0.52% | -0.40% | 1.46% | n/a | n/a |
| 60% / 40% S&P Global 1200 Index / Bloomberg US Aggregate Index Index | 6040SPBL | 6.65% | 5.21% | 9.59% | 6.78% | n/a | n/a |
| Bloomberg Global Equity/Fixed Income 60/40 Index | BMADM64 | 5.79% | 4.25% | 9.28% | 6.21% | n/a | n/a |
| Bloomberg Developed Markets Large & Mid Cap Index | DMTR | 7.48% | 8.07% | 16.56% | 10.00% | n/a | n/a |
|
Performance data quoted represents past performance which is no guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than performance data quoted. Standardized returns current to the most recent month-end can be obtained by visiting our Month-end Returns Page or by calling toll free 1-800-728-8762. The Fund cannot guarantee that its investment objective will be met. Securities of the Fund are offered and sold only through the prospectus or summary prospectus. ¹ A Fund's 30-Day Yield, sometimes referred to as "standardized yield" or "SEC yield,” is expressed as an annual percentage rate using a method of calculation adopted by the Securities and Exchange Commission (SEC). The 30-Day Yield provides an estimate of a Fund's investment income rate, but may not equal the actual income distribution rate. ² Expense ratios shown are as stated in the Fund's most recent prospectus or summary prospectus dated March 31, 2025. | |||||||
|
Ticker | 1 Year | 3 Year | 5 Year | 10 Year | Expense Ratio2 | 30-Day Yield1 |
|---|---|---|---|---|---|---|---|
| Saturna Core | SCORX | 3.79% | 3.76% | 8.56% | 5.58% | 0.74% | 1.53% |
| Dow Jones Moderate Portfolio Index | P60GLB | 4.78% | 3.16% | 8.53% | 5.59% | n/a | n/a |
| S&P Global 1200 Index | SPG1200T | 7.74% | 8.17% | 16.40% | 10.07% | n/a | n/a |
| Bloomberg US Aggregate Index Index | LBUSTRUU | 4.88% | 0.52% | -0.40% | 1.46% | n/a | n/a |
| 60% / 40% S&P Global 1200 Index / Bloomberg US Aggregate Index Index | 6040SPBL | 6.65% | 5.21% | 9.59% | 6.78% | n/a | n/a |
| Bloomberg Global Equity/Fixed Income 60/40 Index | BMADM64 | 5.79% | 4.25% | 9.28% | 6.21% | n/a | n/a |
| Bloomberg Developed Markets Large & Mid Cap Index | DMTR | 7.48% | 8.07% | 16.56% | 10.00% | n/a | n/a |
|
Performance data quoted represents past performance which is no guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than performance data quoted. Standardized returns current to the most recent month-end can be obtained by visiting our Month-end Returns Page or by calling toll free 1-800-728-8762. The Fund cannot guarantee that its investment objective will be met. Securities of the Fund are offered and sold only through the prospectus or summary prospectus. ¹ A Fund's 30-Day Yield, sometimes referred to as "standardized yield" or "SEC yield,” is expressed as an annual percentage rate using a method of calculation adopted by the Securities and Exchange Commission (SEC). The 30-Day Yield provides an estimate of a Fund's investment income rate, but may not equal the actual income distribution rate. ² Expense ratios shown are as stated in the Fund's most recent prospectus or summary prospectus dated March 31, 2025. | |||||||
Growth of $10,000
This chart illustrates the performance of a hypothetical $10,000 invested at the beginning of the period and redeemed at the end of the period, and assumes reinvestment of all dividends and capital gains.
Holdings
as of 03/31/2025
Top Ten Holdings
| Holding | % of Net Assets |
|---|---|
| Cash & Equivalents | 10.1% |
| United States Treasury Bond | 3% |
| United States Treasury Bond | 2.8% |
| Agnico-Eagle Mines | 2.6% |
| Maryland St Cmnty Dev Admin Dept | 2.5% |
| Holding | % of Net Assets |
|---|---|
| Microsoft | 2.2% |
| Comcast Corp | 2% |
| BRKHEC (Pacificorp) | 2% |
| Apple | 1.9% |
| Dominion Energy | 1.8% |
*Current portfolio holdings may not be indicative of future portfolio holdings.
1 Percentage of total investments includes all stocks, plus cash minus all short positions.
2 Total represents the difference between the long exposure and the short exposure, which produces the net exposure.
| Holding | Market Value | Quantity |
|---|---|---|
| Cash & Equivalents | $2,642,978 | 0 |
| United States Treasury Bond | $772,488 | 700,000 |
| United States Treasury Bond | $727,031 | 900,000 |
| Agnico-Eagle Mines | $666,722 | 6,150 |
| Maryland St Cmnty Dev Admin Dept | $643,050 | 625,000 |
| Microsoft | $574,347 | 1,530 |
| Comcast Corp | $516,375 | 500,000 |
| BRKHEC (Pacificorp) | $513,705 | 500,000 |
| Apple | $499,793 | 2,250 |
| Dominion Energy | $476,595 | 8,500 |
| Oracle Corp | $458,803 | 500,000 |
| Eaton Corp PLC | $449,879 | 1,655 |
| SAP ADS | $442,926 | 1,650 |
| NextEra Energy | $420,023 | 5,925 |
| Alphabet, Class A | $409,796 | 2,650 |
| Oracle | $408,944 | 2,925 |
| Virginia St Hsg Dev Auth | $404,124 | 400,000 |
| Motorola Solutions | $394,029 | 900 |
| Broadcom Ltd | $385,089 | 2,300 |
| Danone ADS | $382,750 | 25,000 |
| Taiwan Semiconductor ADS | $381,800 | 2,300 |
| NVIDIA | $352,235 | 3,250 |
| Novo Nordisk ADS | $347,200 | 5,000 |
| Welltower | $346,384 | 350,000 |
| Corteva | $346,115 | 5,500 |
| TJX Companies | $328,860 | 2,700 |
| Visa | $315,414 | 900 |
| Wolters Kluwer NV - ADS | $311,200 | 2,000 |
| Johnson Controls International | $304,418 | 3,800 |
| Connecticut St Hsg Fin Auth Mtge | $302,026 | 300,000 |
| Federal Home Loan Bank 4.50% | $301,322 | 300,000 |
| Fannie Mae 5% | $299,810 | 300,000 |
| JP Morgan Chase | $294,360 | 1,200 |
| AstraZeneca ADS | $294,000 | 4,000 |
| Virtu Financial | $285,900 | 7,500 |
| Linde | $260,758 | 560 |
| Meta Platforms Inc Cl A | $259,362 | 450 |
| EMCOR Group | $258,741 | 700 |
| Lowe's | $256,553 | 1,100 |
| Parker Hannifin | $255,297 | 420 |
| Connecticut St Hsg Fin Auth | $252,494 | 250,000 |
| Boston Scientific | $252,200 | 2,500 |
| Expedia Group | $250,177 | 250,000 |
| Holding | Market Value | Quantity |
|---|---|---|
| Enphase Energy | $248,200 | 4,000 |
| CSX Corp | $247,899 | 300,000 |
| Procter & Gamble | $247,109 | 1,450 |
| Chubb | $244,612 | 810 |
| Fuji Electric Co., Ltd. | $235,831 | 5,500 |
| Republic Services | $230,052 | 950 |
| O'Reilly Automotive | $229,213 | 160 |
| AutoZone | $228,767 | 60 |
| Coca Cola Co | $228,602 | 250,000 |
| General Mills | $227,202 | 3,800 |
| Fedex Corp | $220,842 | 250,000 |
| Union Pacific | $219,859 | 250,000 |
| Mastercard, Class A | $219,248 | 400 |
| Qualcomm | $215,731 | 220,000 |
| UnitedHealth Group | $204,263 | 390 |
| Lowe's | $199,231 | 250,000 |
| Canadian Pacific Kansas City Ltd | $180,299 | 2,568 |
| Unilever ADS | $178,650 | 3,000 |
| Ross Stores | $177,628 | 1,390 |
| Adobe | $172,589 | 450 |
| Bellsouth Capital Funding | $164,296 | 150,000 |
| Burlington Northern Santa Fe Bond | $164,284 | 150,000 |
| GlaxoSmithKline ADS | $162,708 | 4,200 |
| Prysmian S.p.A. | $151,226 | 2,750 |
| NXP Semiconductors | $147,297 | 775 |
| Hermes International | $144,565 | 55 |
| United States Treasury Bond | $140,660 | 137,000 |
| Phillips 66 | $135,828 | 1,100 |
| Fastenal | $135,325 | 1,745 |
| United States Treasury Bond | $135,092 | 155,000 |
| Trane | $134,768 | 400 |
| BHP Biliton ADR | $133,485 | 2,750 |
| NIBE Industrier AB Class B | $114,181 | 30,000 |
| GE Healthcare Technologies | $112,994 | 1,400 |
| ASML Holding NY | $112,647 | 170 |
| Tacoma WA Elec Sys Revenue | $104,324 | 100,000 |
| Nestle ADR | $101,170 | 1,000 |
| Antofagasta plc | $87,019 | 4,000 |
| Stanford University | $86,401 | 100,000 |
| ConocoPhillips | $84,016 | 800 |
| Darling International | $39,050 | 1,250 |
| Micron Technology | $38,666 | 445 |
| Infineon Technologies ADR | $25,668 | 775 |
Sector Allocation
| Sector | % of Net Assets |
|---|---|
| Technology | 17.7% |
| Industrials | 13.9% |
| Other | 10.1% |
| Government | 8% |
| Consumer Discretionary | 6.3% |
| Financials | 6.2% |
| Communications | 6.1% |
| Materials | 5.7% |
| Sector | % of Net Assets |
|---|---|
| Utilities | 5.4% |
| Consumer Staples | 5.4% |
| Health Care | 5.3% |
| Municipal Bonds | 4.4% |
| US Government Agency | 2.3% |
| Energy | 1.8% |
| Real Estate | 1.3% |
*Current portfolio holdings may not be indicative of future portfolio holdings.
1 Percentage of total investments includes all stocks, plus cash minus all short positions.
2 Total represents the difference between the long exposure and the short exposure, which produces the net exposure.
Distributions
| Record Date | Ex, Pay and Reinvest Date | Ordinary Income | Qualified Income | Short-Term Capital Gains | Long-Term Capital Gains | Total Distributions (per share) |
|---|---|---|---|---|---|---|
| 12/18/2024 | 12/19/2024 | $0.22 | $0.09 | $0.00 | $0.151 | $0.461 |
| 12/20/2023 | 12/21/2023 | $0.11 | $0.14 | $0.00 | $0.00 | $0.25 |
| 12/14/2022 | 12/15/2022 | $0.192 | $0.00 | $0.00 | $0.0239 | $0.2159 |
| 12/15/2021 | 12/16/2021 | $0.043 | $0.203 | $0.00 | $0.262 | $0.508 |
The Saturna Core Fund intends to distribute its net investment income and net realized capital gains, if any, to its shareowners. Distributions from income dividends and net capital gains are paid at the end of the year.
Distributions for the last five years are listed in the table above. For prior distributions, please contact a Saturna representative.
Regulations regarding distributions can be complex, and there are several methods for managing your tax liability. Please consult a tax advisor about your particular circumstances. You also may obtain helpful information by calling the Internal Revenue Service at 1-800-829-1040 or visiting www.irs.gov.
If applicable, distribution information will appear on Form 1099-DIV, typically sent in late January. For more information on tax documentation, please visit our Tax Documentation page.
The Fund pays per-share distributions to shareowners invested on the Record Date. On the Payable Date, the fund's share price is reduced by the amount of its distribution.
The following tables describe the fees and expenses mutual fund shareowners may pay. There are no shareowner fees (fees paid directly from an investment). The Fund imposes no sales charge (load) on purchases or reinvested dividends, or any deferred sales charge (load) upon redemption. There are no exchange fees or account fees. Investments in mutual funds are subject to ongoing expenses. Saturna endeavors to keep these fees low. We encourage you to compare the following fees with similar fees of other no-load mutual funds:
Shareowner Fees
(fees paid directly from your investment)
| None |
Annual Fund Operating Expenses
(expenses that you pay each year as a percentage of the value of your investment)
| Management Fees | 0.50% |
| Other Expenses | 0.24% |
| Total Annual Fund Operating Expenses | 0.74% |
When you buy shares through a financial intermediary, that intermediary may charge a transaction fee or commission which is not reflected in the expenses table. Purchases and redemptions of Fund shares will be made at the daily net asset value established by the Fund (before imposition of a commission).
Investment Minimum
| The minimum initial investment is $1,000 (for tax-sheltered accounts, there is no minimum). |