Saturna Capital Corp.

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 2, 2025), Saturna Capital Corp. reported 149 stock positions worth $6.7 billion. Its top holding was Eli Lilly (LLY) at 7.4% of the portfolio, followed by Apple (AAPL, 7.0%) and Microsoft (MSFT, 6.2%). Compared with Q4 2024, it opened 3 new positions, sold out of 11, added to 42 and reduced 48. The biggest buy was Abbvie (ABBV, shares +6%) and the biggest sale Merck (MRK, shares −85%).

Most Recent 13F
Q2 2026
Location
BELLINGHAM, WA
CIK
0001316617
Portfolio Value
$6.7B (Q1 2025)
SEC Filing
0001316617-25-000007 ↗ filed May 2, 2025

Holdings Value

0$2.0B$4.0B$6.0B$8.0B$10.0B Q1 2024: $7.2B Q1 2024 Q2 2024: $7.5B Q2 2024 Q3 2024: $7.6B Q3 2024 Q4 2024: $7.4B Q4 2024 Q1 2025: $6.7B $6.7B Q1 2025 Q2 2025: $7.4B Q2 2025 Q3 2025: $7.8B Q3 2025 Q4 2025: $7.5B Q4 2025 Q1 2026: $7.1B Q1 2026 Q2 2026: $8.2B Q2 2026

Holdings 149 stocks · $6.7B
LLY Eli Lilly & Co. 7.43% 600,756 $496.2M Reduce -4.5%
AAPL Apple Inc. 7.01% 2,108,951 $468.5M Reduce -0.9%
MSFT Microsoft Corp. 6.25% 1,111,976 $417.4M Add +0.0%
TSM Taiwan Semiconductor-SP ADR 5.30% 2,132,839 $354.1M Reduce 0.0%
AVGO Broadcom Inc. 3.84% 1,530,320 $256.2M Reduce -0.0%
NVDA Nvidia Corp. 3.77% 2,322,471 $251.7M Reduce -0.1%
GOOGL Alphabet Inc. Class A 3.32% 1,431,847 $221.4M Reduce -0.0%
ASML ASML Holding NV-NY Reg SHS 3.18% 320,200 $212.2M Add +0.0%
JCI Johnson Controls Internation 3.17% 2,642,128 $211.7M Reduce -0.0%
INTU Intuit Inc. 2.71% 295,183 $181.2M Reduce -0.3%
PG The Procter & Gamble Co. 2.35% 922,415 $157.2M Reduce -0.0%
AZO AutoZone Inc. 2.32% 40,646 $155.0M No change
NOW ServiceNow Inc. 2.25% 188,865 $150.4M Add +0.0%
ABBV Abbvie Inc. 2.25% 717,186 $150.3M Add +6.0%
TJX TJX Companies Inc. filed as TJX COS INC NEW 2.24% 1,230,865 $149.9M Reduce -0.0%
NVO Novo-Nordisk A/S-Spons ADR 2.23% 2,144,759 $148.9M Add +1.6%
TT Trane Technologies PLC 2.04% 403,659 $136.0M Reduce -0.0%
ORCL Oracle Corp. 2.00% 957,318 $133.8M Reduce -0.0%
CHD Church & Dwight Co. Inc. 1.96% 1,192,086 $131.2M Reduce -0.0%
ADBE Adobe Inc. 1.96% 341,560 $131.0M Add +0.7%
KEYS Keysight Technologies Inc. 1.92% 856,383 $128.3M Reduce -1.3%
AZN Astrazeneca PLC-Spons ADR 1.80% 1,636,095 $120.3M Reduce -0.1%
SYK Stryker Corp. 1.75% 314,441 $117.1M Add +0.3%
TRMB Trimble Inc. 1.66% 1,690,722 $111.0M Add +0.0%
CSCO Cisco Systems Inc. 1.61% 1,740,685 $107.4M Reduce -1.0%
LOW Lowe's Cos Inc. 1.49% 427,201 $99.6M Add +0.1%
AMD Advanced Micro Devices 1.33% 864,175 $88.8M Reduce -28.4%
A Agilent Technologies Inc. 1.29% 735,744 $86.1M Reduce -17.6%
GWW WW Grainger Inc. filed as GRAINGER W W INC 1.21% 81,950 $81.0M No change
ROK Rockwell Automation Inc. 1.17% 301,300 $77.8M No change
ITW Illinois Tool Works 1.14% 308,124 $76.4M No change
IT Gartner Inc. 1.14% 180,641 $75.8M No change
LIN Linde PLC 0.94% 134,937 $62.8M Reduce -0.6%
UNP Union Pacific Corp. 0.83% 234,168 $55.3M Reduce -26.2%
ETN Eaton Corp. PLC 0.83% 202,833 $55.1M Add +52.9%
LECO Lincoln Electric Holdings 0.79% 280,279 $53.0M No change
ABT Abbott Laboratories 0.78% 393,320 $52.2M Reduce -0.2%
TXN Texas Instruments Inc. 0.72% 266,063 $47.8M Reduce -0.0%
MKC McCormick & Co.-Non VTG SHRS 0.69% 560,016 $46.1M No change
CL Colgate-Palmolive Co. 0.69% 490,200 $45.9M No change
GPC Genuine Parts Co. 0.68% 383,800 $45.7M No change
KMB Kimberly-Clark Corp. 0.64% 301,134 $42.8M No change
KVUE Kenvue Inc. 0.62% 1,718,601 $41.2M Add +0.4%
FERG Ferguson Enterprises Inc. 0.57% 237,833 $38.1M Add +0.3%
CNI Canadian Natl Railway Co. 0.56% 384,000 $37.4M No change
UL Unilever PLC 0.54% 605,943 $36.1M Add +1.4%
NVS Novartis AG-Sponsored ADR 0.53% 320,166 $35.7M Reduce -0.0%
AMGN Amgen Inc. 0.53% 114,120 $35.6M Reduce -16.5%
APD Air Products & Chemicals Inc. 0.49% 110,935 $32.7M No change
JNJ Johnson & Johnson 0.45% 182,593 $30.3M Reduce -0.0%
UPS United Parcel Service Class B 0.45% 274,863 $30.2M No change
MRK Merck & Co. Inc. 0.20% 145,223 $13.0M Reduce -84.6%
HD Home Depot Inc. 0.19% 34,279 $12.6M Add +750.8%
QCOM Qualcomm Inc. 0.11% 49,910 $7.7M Add +0.1%
NKE Nike Inc. Class B 0.10% 105,000 $6.7M New
AMZN Amazon.com Inc. 0.08% 28,999 $5.5M No change
ORLY O'reilly Automotive Inc. 0.08% 3,806 $5.5M Add +0.1%
MELI MercadoLibre Inc. 0.07% 2,550 $5.0M Reduce -8.4%
RIO Rio Tinto PLC-Spon ADR 0.07% 76,915 $4.6M Reduce -7.2%
SAP Sap SE-Sponsored ADR 0.07% 16,227 $4.4M Reduce -13.1%
SCCO Southern Copper Corp. 0.06% 44,263 $4.1M Add +0.7%
COST Costco Wholesale Corp. 0.06% 4,362 $4.1M No change
JBL Jabil Inc. 0.06% 28,600 $3.9M No change
MA Mastercard Inc. Class A 0.05% 6,172 $3.4M Reduce -9.5%
ACN Accenture PLC Class A 0.05% 10,814 $3.4M Reduce -4.7%
MSI Motorola Solutions Inc. 0.05% 7,395 $3.2M Reduce -2.6%
B Barrick Gold Corp. 0.05% 165,561 $3.2M No change
AEM Agnico Eagle Mines Ltd. 0.05% 28,396 $3.1M Add +0.1%
INFY Infosys Ltd.-SP ADR 0.05% 166,428 $3.0M No change
NICE Nice Ltd. - Spon ADR 0.04% 18,917 $2.9M No change
BSX Boston Scientific Corp. 0.04% 26,505 $2.7M Add +0.0%
META Meta Platforms Inc. Class A 0.04% 4,439 $2.6M Add +13.1%
MCO Moody's Corp. 0.04% 5,015 $2.3M No change
TYL Tyler Technologies Inc. 0.03% 3,658 $2.1M Add +100.9%
COP Conocophillips 0.03% 19,684 $2.1M No change
PSA Public Storage 0.03% 6,901 $2.1M Add +5.3%
PWR Quanta Services Inc. 0.03% 7,935 $2.0M Reduce -5.5%
SQM Quimica Y Minera Chil-SP ADR filed as SOCIEDAD QUIMICA Y MINERA DE 0.03% 49,407 $2.0M No change
MNST Monster Beverage Corp. 0.03% 33,383 $2.0M Add +0.2%
TEL Te Connectivity PLC 0.03% 13,515 $1.9M Reduce -0.4%
CRM Salesforce Inc. 0.03% 6,941 $1.9M Add +0.9%
RSG Republic Services Inc. 0.03% 7,235 $1.8M Add +1.5%
WSO Watsco Inc. 0.02% 3,263 $1.7M No change
CTVA Corteva Inc. 0.02% 25,466 $1.6M Reduce -18.6%
EXPO Exponent Inc. 0.02% 18,611 $1.5M Add +151.7%
FAST Fastenal Co. 0.02% 18,144 $1.4M No change
EMR Emerson Electric Co. 0.02% 12,801 $1.4M Add +40.4%
PANW Palo Alto Networks Inc. 0.02% 8,169 $1.4M No change
PLD Prologis Inc. 0.02% 11,757 $1.3M Add +8.5%
ALC Alcon Inc. filed as ALCON AG 0.02% 13,815 $1.3M Reduce -30.8%
TLK Telkom Indonesia Persero-ADR filed as P T TELEKOMUNIKASI INDONESIA 0.02% 83,782 $1.2M No change
NXPI NXP Semiconductors NV 0.02% 6,259 $1.2M Reduce -1.6%
FTNT Fortinet Inc. 0.02% 12,070 $1.2M Add +56.8%
NEE Nextera Energy Inc. 0.02% 16,325 $1.2M No change
ITRI Itron Inc. 0.02% 9,981 $1.0M No change
ZTS Zoetis Inc. 0.02% 6,181 $1.0M No change
CSW CSW Industrials Inc. 0.02% 3,451 $1.0M Reduce -14.9%
EW Edwards Lifesciences Corp. 0.01% 13,410 $972K Reduce -44.7%
NSC Norfolk Southern Corp. 0.01% 4,075 $965K Reduce -2.4%
CB Chubb Ltd. 0.01% 3,170 $957K No change
MPWR Monolithic Power Systems Inc. 0.01% 1,618 $938K No change
UNH Unitedhealth Group Inc. 0.01% 1,776 $930K No change
GSK GSK PLC-Spon ADR 0.01% 22,650 $877K Reduce -10.1%
LULU Lululemon Athletica Inc. 0.01% 3,000 $849K No change
AON Aon PLC Class A 0.01% 1,989 $794K No change
FIX Comfort Systems USA Inc. 0.01% 2,451 $790K Reduce -29.9%
ROP Roper Technologies Inc. 0.01% 1,328 $783K No change
EQIX Equinix Inc. 0.01% 951 $775K Add +13.1%
FSLR First Solar Inc. 0.01% 6,113 $773K Add +15.3%
TSCO Tractor Supply Company 0.01% 13,550 $747K Add +16.3%
JPM JPMorgan Chase & Co. 0.01% 2,903 $712K Add +26.1%
D Dominion Energy Inc. 0.01% 12,265 $688K Add +0.5%
CPT Camden Property Trust 0.01% 5,440 $665K Add +19.8%
PSX Phillips 66 0.01% 5,268 $650K No change
VMRK Vivmark Residential filed as EQUITY RESIDENTIAL 0.01% 8,690 $622K Add +19.7%
MAA Mid-America Apartment Comm 0.01% 3,490 $585K Add +23.3%
LMB Limbach Holdings Inc. 0.01% 7,844 $584K Reduce -20.0%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.01% 2,324 $578K No change
BHP BHP Group Ltd.-Spon ADR 0.01% 11,868 $576K No change
WY Weyerhaeuser Co. 0.01% 19,639 $575K Add +20.9%
VIRT Virtu Financial Inc. Class A 0.01% 15,000 $572K Reduce -18.9%
PCH Potlatchdeltic Corp. 0.01% 12,640 $570K Add +24.6%
FND Floor & Decor Holdings Inc. Class A 0.01% 6,960 $560K Add +14.8%
SONY Sony Group Corp. - SP ADR 0.01% 20,000 $508K No change
V Visa Inc. Class A 0.01% 1,369 $480K No change
WM Waste Management Inc. 0.01% 1,951 $452K No change
EME Emcor Group Inc. 0.01% 1,142 $422K Add +6.8%
GIS General Mills Inc. 0.01% 6,869 $411K Reduce -2.7%
CP Canadian Pacific Kansas City 0.01% 5,768 $405K No change
ENPH Enphase Energy Inc. 0.01% 6,515 $404K No change
CCJ Cameco Corp. 0.01% 9,737 $401K No change
ECL Ecolab Inc. 0.01% 1,500 $380K No change
VZ Verizon Communications Inc. 0.01% 7,410 $336K No change
AGX Argan Inc. 0.01% 2,532 $332K Reduce -35.0%
ROST Ross Stores Inc. 0.00% 2,510 $321K No change
MTRX Matrix Service Co. 0.00% 22,886 $284K Reduce -30.0%
SHEL Shell PLC-ADR 0.00% 3,800 $278K No change
ZS Zscaler Inc. 0.00% 1,398 $277K No change
GOOG Alphabet Inc. Class C 0.00% 1,734 $271K Add +20.8%
ORANY Orange-Spon ADR 0.00% 20,000 $259K No change
PH Parker Hannifin Corp. 0.00% 420 $255K Reduce -16.0%
RXST Rxsight Inc. 0.00% 9,618 $243K No change
SKM SK Telecom Co. Ltd.-Spon ADR 0.00% 11,000 $234K No change
ESTC Elastic NV 0.00% 2,532 $226K No change
FBIN Fortune Brands Innovations I 0.00% 3,700 $225K New
CFLT Confluent Inc. Class A 0.00% 8,700 $204K No change
CVX Chevron Corp. 0.00% 1,200 $201K New
DVAX Dynavax Technologies Corp. 0.00% 13,613 $177K No change
IOVA Iovance Biotherapeutics Inc. 0.00% 20,553 $68K No change

Portfolio Sells Q4 2024 → Q1 2025
MRK Merck & Co. Inc. Reduce -84.6% 0.20% −1.08
AVGO Broadcom Inc. Reduce -0.0% 3.84% −0.98
AMD Advanced Micro Devices Reduce -28.4% 1.33% −0.65
PPG PPG Industries Inc. Sold out 0.00% −0.61
NVDA Nvidia Corp. Reduce -0.1% 3.77% −0.47
TSM Taiwan Semiconductor-SP ADR Reduce 0.0% 5.30% −0.41
GOOGL Alphabet Inc. Class A Reduce -0.0% 3.32% −0.36
A Agilent Technologies Inc. Reduce -17.6% 1.29% −0.34
AAPL Apple Inc. Reduce -0.9% 7.01% −0.21
ORCL Oracle Corp. Reduce -0.0% 2.00% −0.16
PFE Pfizer Inc. Sold out 0.00% −0.16
UNP Union Pacific Corp. Reduce -26.2% 0.83% −0.15
ICFI Icf International Inc. Sold out 0.00% −0.01
EW Edwards Lifesciences Corp. Reduce -44.7% 0.01% −0.01
FIX Comfort Systems USA Inc. Reduce -29.9% 0.01% −0.01
PWR Quanta Services Inc. Reduce -5.5% 0.03% −0.01
RMBS Rambus Inc. Sold out 0.00% −0.00
CSW CSW Industrials Inc. Reduce -14.9% 0.02% −0.00
ACN Accenture PLC Class A Reduce -4.7% 0.05% −0.00
SITM Sitime Corp. Sold out 0.00% −0.00
GEV GE Vernova Inc. Sold out 0.00% −0.00
PYPL PayPal Holdings Inc. Sold out 0.00% −0.00
VST Vistra Corp. Sold out 0.00% −0.00
ALC Alcon Inc. Reduce -30.8% 0.02% −0.00
STM Stmicroelectronics NV-NY SHS Sold out 0.00% −0.00
BKNG Booking Holdings Inc. Sold out 0.00% −0.00
FICO Fair Isaac Corp. Sold out 0.00% −0.00
LMB Limbach Holdings Inc. Reduce -20.0% 0.01% −0.00
AGX Argan Inc. Reduce -35.0% 0.01% −0.00
MTRX Matrix Service Co. Reduce -30.0% 0.00% −0.00
PH Parker Hannifin Corp. Reduce -16.0% 0.00% −0.00
VIRT Virtu Financial Inc. Class A Reduce -18.9% 0.01% −0.00
CTVA Corteva Inc. Reduce -18.6% 0.02% −0.00
NXPI NXP Semiconductors NV Reduce -1.6% 0.02% −0.00
GIS General Mills Inc. Reduce -2.7% 0.01% 0.00
MSI Motorola Solutions Inc. Reduce -2.6% 0.05% +0.00
NSC Norfolk Southern Corp. Reduce -2.4% 0.01% +0.00
GSK GSK PLC-Spon ADR Reduce -10.1% 0.01% +0.00
MA Mastercard Inc. Class A Reduce -9.5% 0.05% +0.00
TEL Te Connectivity PLC Reduce -0.4% 0.03% +0.00
SAP Sap SE-Sponsored ADR Reduce -13.1% 0.07% +0.00
RIO Rio Tinto PLC-Spon ADR Reduce -7.2% 0.07% +0.00
MELI MercadoLibre Inc. Reduce -8.4% 0.07% +0.01
TT Trane Technologies PLC Reduce -0.0% 2.04% +0.01
KEYS Keysight Technologies Inc. Reduce -1.3% 1.92% +0.03
TXN Texas Instruments Inc. Reduce -0.0% 0.72% +0.04
AMGN Amgen Inc. Reduce -16.5% 0.53% +0.05
JNJ Johnson & Johnson Reduce -0.0% 0.45% +0.10
NVS Novartis AG-Sponsored ADR Reduce -0.0% 0.53% +0.11
LIN Linde PLC Reduce -0.6% 0.94% +0.17

Portfolio Buys Q4 2024 → Q1 2025
ABBV Abbvie Inc. Add +6.0% 2.25% +0.62
ETN Eaton Corp. PLC Add +52.9% 0.83% +0.23
SYK Stryker Corp. Add +0.3% 1.75% +0.22
ASML ASML Holding NV-NY Reg SHS Add +0.0% 3.18% +0.17
HD Home Depot Inc. Add +750.8% 0.19% +0.17
KVUE Kenvue Inc. Add +0.4% 0.62% +0.12
NKE Nike Inc. Class B New 0.10% +0.10
UL Unilever PLC Add +1.4% 0.54% +0.08
LOW Lowe's Cos Inc. Add +0.1% 1.49% +0.06
TRMB Trimble Inc. Add +0.0% 1.66% +0.04
ORLY O'reilly Automotive Inc. Add +0.1% 0.08% +0.02
TYL Tyler Technologies Inc. Add +100.9% 0.03% +0.02
AEM Agnico Eagle Mines Ltd. Add +0.1% 0.05% +0.02
EXPO Exponent Inc. Add +151.7% 0.02% +0.01
FERG Ferguson Enterprises Inc. Add +0.3% 0.57% +0.01
QCOM Qualcomm Inc. Add +0.1% 0.11% +0.01
BSX Boston Scientific Corp. Add +0.0% 0.04% +0.01
SCCO Southern Copper Corp. Add +0.7% 0.06% +0.01
FTNT Fortinet Inc. Add +56.8% 0.02% +0.01
META Meta Platforms Inc. Class A Add +13.1% 0.04% +0.01
RSG Republic Services Inc. Add +1.5% 0.03% +0.01
EMR Emerson Electric Co. Add +40.4% 0.02% +0.01
MNST Monster Beverage Corp. Add +0.2% 0.03% +0.01
PSA Public Storage Add +5.3% 0.03% +0.00
PLD Prologis Inc. Add +8.5% 0.02% +0.00
FBIN Fortune Brands Innovations I New 0.00% +0.00
JPM JPMorgan Chase & Co. Add +26.1% 0.01% +0.00
PCH Potlatchdeltic Corp. Add +24.6% 0.01% +0.00
CVX Chevron Corp. New 0.00% +0.00
CPT Camden Property Trust Add +19.8% 0.01% +0.00
MAA Mid-America Apartment Comm Add +23.3% 0.01% +0.00
TSCO Tractor Supply Company Add +16.3% 0.01% +0.00
WY Weyerhaeuser Co. Add +20.9% 0.01% +0.00
VMRK Vivmark Residential Add +19.7% 0.01% +0.00
D Dominion Energy Inc. Add +0.5% 0.01% +0.00
EQIX Equinix Inc. Add +13.1% 0.01% +0.00
GOOG Alphabet Inc. Class C Add +20.8% 0.00% +0.00
FND Floor & Decor Holdings Inc. Class A Add +14.8% 0.01% +0.00
EME Emcor Group Inc. Add +6.8% 0.01% −0.00
FSLR First Solar Inc. Add +15.3% 0.01% −0.00
CRM Salesforce Inc. Add +0.9% 0.03% −0.00
ADBE Adobe Inc. Add +0.7% 1.96% −0.08
MSFT Microsoft Corp. Add +0.0% 6.25% −0.11
NVO Novo-Nordisk A/S-Spons ADR Add +1.6% 2.23% −0.23
NOW ServiceNow Inc. Add +0.0% 2.25% −0.46

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 140$8.2BTSM, AVGO, AAPL, LLY, MSFT
Q1 2026 148$7.1BTSM, LLY, AVGO, AAPL, ASML
Q4 2025 150$7.5BTSM, LLY, AVGO, MSFT, AAPL
Q3 2025 157$7.8BTSM, MSFT, AVGO, AAPL, LLY
Q2 2025 157$7.4BMSFT, TSM, LLY, AVGO, AAPL
Q1 2025 149$6.7BLLY, AAPL, MSFT, TSM, AVGO
Q4 2024 157$7.4BAAPL, LLY, MSFT, TSM, AVGO
Q3 2024 158$7.6BLLY, AAPL, MSFT, TSM, ASML
Q2 2024 166$7.5BLLY, MSFT, AAPL, TSM, ASML
Q1 2024 170$7.2BLLY, MSFT, AAPL, ASML, TSM