Saturna Capital Corp.

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 12, 2025), Saturna Capital Corp. reported 157 stock positions worth $7.4 billion. Its top holding was Microsoft (MSFT) at 7.5% of the portfolio, followed by Taiwan Semiconductor-SP ADR (TSM, 6.5%) and Eli Lilly (LLY, 6.3%). Compared with Q1 2025, it opened 15 new positions, sold out of 7, added to 71 and reduced 43. The biggest buy was Broadcom (AVGO, shares +0%) and the biggest sale Apple (AAPL, shares −13%).

Most Recent 13F
Q2 2026
Location
BELLINGHAM, WA
CIK
0001316617
Portfolio Value
$7.4B (Q2 2025)
SEC Filing
0001316617-25-000009 ↗ filed Aug 12, 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 Q1 2025 Q2 2025: $7.4B $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 157 stocks · $7.4B

MSFT Microsoft Corp. 7.48% 1,113,148 $553.7M Add +0.1%
TSM Taiwan Semiconductor-SP ADR 6.54% 2,137,279 $484.1M Add +0.2%
LLY Eli Lilly & Co. 6.25% 593,584 $462.7M Reduce -1.2%
AVGO Broadcom Inc. 5.71% 1,533,809 $422.8M Add +0.2%
AAPL Apple Inc. 5.09% 1,835,276 $376.5M Reduce -13.0%
NVDA Nvidia Corp. 4.80% 2,246,118 $354.9M Reduce -3.3%
JCI Johnson Controls Internation 3.78% 2,647,612 $279.6M Add +0.2%
ASML ASML Holding NV-NY Reg SHS 3.48% 320,967 $257.2M Add +0.2%
GOOGL Alphabet Inc. Class A 3.43% 1,440,771 $253.9M Add +0.6%
INTU Intuit Inc. 3.15% 295,763 $233.0M Add +0.2%
ORCL Oracle Corp. 2.82% 953,192 $208.4M Reduce -0.4%
NOW ServiceNow Inc. 2.63% 189,501 $194.8M Add +0.3%
TT Trane Technologies PLC 2.39% 404,986 $177.1M Add +0.3%
TJX TJX Companies Inc. filed as TJX COS INC NEW 2.05% 1,230,877 $152.0M Add +0.0%
AZO AutoZone Inc. 2.05% 40,885 $151.8M Add +0.6%
PG The Procter & Gamble Co. 1.99% 924,568 $147.3M Add +0.2%
NVO Novo-Nordisk A/S-Spons ADR 1.98% 2,123,692 $146.6M Reduce -1.0%
KEYS Keysight Technologies Inc. 1.89% 851,998 $139.6M Reduce -0.5%
ABBV Abbvie Inc. 1.80% 719,013 $133.5M Add +0.3%
ADBE Adobe Inc. 1.79% 342,163 $132.4M Add +0.2%
TRMB Trimble Inc. 1.74% 1,690,562 $128.4M Reduce -0.0%
SYK Stryker Corp. 1.70% 317,311 $125.5M Add +0.9%
CSCO Cisco Systems Inc. 1.64% 1,744,887 $121.1M Add +0.2%
CHD Church & Dwight Co. Inc. 1.56% 1,199,640 $115.3M Add +0.6%
AZN Astrazeneca PLC-Spons ADR 1.54% 1,633,715 $114.2M Reduce -0.1%
ROK Rockwell Automation Inc. 1.35% 301,507 $100.2M Add +0.1%
LOW Lowe's Cos Inc. 1.28% 426,853 $94.7M Reduce -0.1%
GWW WW Grainger Inc. filed as GRAINGER W W INC 1.15% 82,003 $85.3M Add +0.1%
ITW Illinois Tool Works 1.03% 308,328 $76.2M Add +0.1%
IT Gartner Inc. 0.99% 180,691 $73.0M Add +0.0%
ETN Eaton Corp. PLC 0.98% 203,498 $72.6M Add +0.3%
LIN Linde PLC 0.86% 135,977 $63.8M Add +0.8%
A Agilent Technologies Inc. 0.86% 539,400 $63.7M Reduce -26.7%
TXN Texas Instruments Inc. 0.76% 272,025 $56.5M Add +2.2%
LECO Lincoln Electric Holdings 0.75% 269,070 $55.8M Reduce -4.0%
ABT Abbott Laboratories 0.72% 392,395 $53.4M Reduce -0.2%
FERG Ferguson Enterprises Inc. 0.70% 238,178 $51.9M Add +0.1%
GPC Genuine Parts Co. 0.63% 384,075 $46.6M Add +0.1%
MKC McCormick & Co.-Non VTG SHRS 0.57% 560,423 $42.5M Add +0.1%
CL Colgate-Palmolive Co. 0.55% 450,327 $40.9M Reduce -8.1%
CNI Canadian Natl Railway Co. 0.54% 384,280 $40.0M Add +0.1%
KMB Kimberly-Clark Corp. 0.53% 301,374 $38.9M Add +0.1%
NVS Novartis AG-Sponsored ADR 0.52% 315,876 $38.2M Reduce -1.3%
UL Unilever PLC 0.50% 606,808 $37.1M Add +0.1%
KVUE Kenvue Inc. 0.49% 1,731,373 $36.2M Add +0.7%
AMD Advanced Micro Devices 0.49% 253,175 $35.9M Reduce -70.7%
UNP Union Pacific Corp. 0.43% 137,594 $31.7M Reduce -41.2%
APD Air Products & Chemicals Inc. 0.42% 111,035 $31.3M Add +0.1%
JNJ Johnson & Johnson 0.38% 182,398 $27.9M Reduce -0.1%
UPS United Parcel Service Class B 0.37% 268,288 $27.1M Reduce -2.4%
AMGN Amgen Inc. 0.18% 47,077 $13.1M Reduce -58.8%
HD Home Depot Inc. 0.17% 34,464 $12.6M Add +0.5%
MRK Merck & Co. Inc. 0.16% 145,106 $11.5M Reduce -0.1%
NKE Nike Inc. Class B 0.15% 155,055 $11.0M Add +47.7%
QCOM Qualcomm Inc. 0.11% 50,813 $8.1M Add +1.8%
AMZN Amazon.com Inc. 0.09% 28,999 $6.4M No change
JBL Jabil Inc. 0.08% 28,600 $6.2M No change
MELI MercadoLibre Inc. 0.08% 2,360 $6.2M Reduce -7.5%
SAP Sap SE-Sponsored ADR 0.08% 19,949 $6.1M Add +22.9%
ORLY O'reilly Automotive Inc. 0.07% 57,405 $5.2M Add +0.6%
RIO Rio Tinto PLC-Spon ADR 0.07% 85,920 $5.0M Add +11.7%
SCCO Southern Copper Corp. 0.06% 44,700 $4.5M Add +1.0%
BSX Boston Scientific Corp. 0.06% 41,791 $4.5M Add +57.7%
CRH CRH PLC 0.06% 48,467 $4.4M New
COST Costco Wholesale Corp. 0.06% 4,346 $4.3M Reduce -0.4%
MPWR Monolithic Power Systems Inc. 0.06% 5,774 $4.2M Add +256.9%
B Barrick Mining Corp. 0.05% 176,561 $3.7M Add +6.6%
INFY Infosys Ltd.-SP ADR 0.05% 191,318 $3.5M Add +15.0%
AEM Agnico Eagle Mines Ltd. 0.05% 29,148 $3.5M Add +2.6%
META Meta Platforms Inc. Class A 0.05% 4,607 $3.4M Add +3.8%
MA Mastercard Inc. Class A 0.05% 5,947 $3.3M Reduce -3.6%
NICE Nice Ltd. - Spon ADR 0.04% 18,917 $3.2M No change
MSI Motorola Solutions Inc. 0.04% 7,395 $3.1M No change
ACN Accenture PLC Class A 0.04% 10,229 $3.1M Reduce -5.4%
PWR Quanta Services Inc. 0.04% 8,061 $3.0M Add +1.6%
SQM Quimica Y Minera Chil-SP ADR filed as SOCIEDAD QUIMICA Y MINERA DE 0.04% 80,407 $2.8M Add +62.7%
MCO Moody's Corp. 0.03% 5,015 $2.5M No change
TYL Tyler Technologies Inc. 0.03% 4,203 $2.5M Add +14.9%
TEL Te Connectivity PLC 0.03% 13,460 $2.3M Reduce -0.4%
CTVA Corteva Inc. 0.03% 28,463 $2.1M Add +11.8%
PSA Public Storage 0.03% 7,136 $2.1M Add +3.4%
MNST Monster Beverage Corp. 0.03% 33,383 $2.1M No change
CRM Salesforce Inc. 0.02% 6,761 $1.8M Reduce -2.6%
CPRT Copart Inc. 0.02% 37,132 $1.8M New
RSG Republic Services Inc. 0.02% 7,315 $1.8M Add +1.1%
FTNT Fortinet Inc. 0.02% 16,834 $1.8M Add +39.5%
TLK Telkom Indonesia Persero-ADR filed as P T TELEKOMUNIKASI INDONESIA 0.02% 100,782 $1.7M Add +20.3%
PANW Palo Alto Networks Inc. 0.02% 8,175 $1.7M Add +0.1%
FAST Fastenal Co. 0.02% 36,288 $1.5M No change
NXPI NXP Semiconductors NV 0.02% 6,209 $1.4M Reduce -0.8%
WSO Watsco Inc. 0.02% 3,051 $1.3M Reduce -6.5%
WM Waste Management Inc. 0.02% 5,851 $1.3M Add +199.9%
FIX Comfort Systems USA Inc. 0.02% 2,451 $1.3M No change
ITRI Itron Inc. 0.02% 9,981 $1.3M No change
PLD Prologis Inc. 0.02% 12,382 $1.3M Add +5.3%
EXPO Exponent Inc. 0.02% 15,817 $1.2M Reduce -15.0%
NEE Nextera Energy Inc. 0.02% 16,415 $1.1M Add +0.6%
EQIX Equinix Inc. 0.02% 1,417 $1.1M Add +49.0%
NSC Norfolk Southern Corp. 0.01% 4,035 $1.0M Reduce -1.0%
CSW CSW Industrials Inc. 0.01% 3,395 $974K Reduce -1.6%
LMB Limbach Holdings Inc. 0.01% 6,867 $962K Reduce -12.5%
CB Chubb Ltd. 0.01% 3,170 $918K No change
GSK GSK PLC-Spon ADR 0.01% 22,658 $870K Add +0.0%
JPM JPMorgan Chase & Co. 0.01% 2,873 $833K Reduce -1.0%
WELL Welltower Inc. 0.01% 5,195 $799K New
TSCO Tractor Supply Company 0.01% 14,830 $783K Add +9.4%
ROP Roper Technologies Inc. 0.01% 1,328 $753K No change
APH Amphenol Corp. Class A 0.01% 7,500 $741K New
CCJ Cameco Corp. 0.01% 9,593 $712K Reduce -1.5%
AON Aon PLC Class A 0.01% 1,989 $710K No change
D Dominion Energy Inc. 0.01% 12,315 $696K Add +0.4%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.01% 2,324 $685K No change
MCHP Microchip Technology Inc. 0.01% 9,625 $677K New
CPT Camden Property Trust 0.01% 5,990 $675K Add +10.1%
VIRT Virtu Financial Inc. Class A 0.01% 15,000 $672K No change
FSLR First Solar Inc. 0.01% 3,943 $653K Reduce -35.5%
VMRK Vivmark Residential filed as EQUITY RESIDENTIAL 0.01% 9,575 $646K Add +10.2%
EME Emcor Group Inc. 0.01% 1,142 $611K No change
MAA Mid-America Apartment Comm 0.01% 3,910 $579K Add +12.0%
EMR Emerson Electric Co. 0.01% 4,257 $568K Reduce -66.7%
WY Weyerhaeuser Co. 0.01% 21,979 $565K Add +11.9%
BHP BHP Group Ltd.-Spon ADR 0.01% 11,624 $559K Reduce -2.1%
PCH Potlatchdeltic Corp. 0.01% 14,280 $548K Add +13.0%
FND Floor & Decor Holdings Inc. Class A 0.01% 7,150 $543K Add +2.7%
SONY Sony Group Corp. - SP ADR 0.01% 20,000 $521K No change
V Visa Inc. Class A 0.01% 1,369 $486K No change
PSX Phillips 66 0.01% 3,888 $464K Reduce -26.2%
DHR Danaher Corp. 0.01% 2,325 $459K New
AGX Argan Inc. 0.01% 2,078 $458K Reduce -17.9%
CP Canadian Pacific Kansas City 0.01% 5,768 $457K No change
COP Conocophillips 0.01% 5,025 $451K Reduce -74.5%
ZS Zscaler Inc. 0.01% 1,398 $439K No change
ECL Ecolab Inc. 0.01% 1,500 $404K No change
UNH Unitedhealth Group Inc. 0.01% 1,191 $372K Reduce -32.9%
GOOG Alphabet Inc. Class C 0.00% 1,951 $346K Add +12.5%
ISRG Intuitive Surgical Inc. 0.00% 623 $339K New
MTRX Matrix Service Co. 0.00% 23,850 $322K Add +4.2%
VZ Verizon Communications Inc. 0.00% 7,410 $321K No change
ROST Ross Stores Inc. 0.00% 2,510 $320K No change
SNN Smith & Nephew PLC -Spon ADR 0.00% 10,171 $312K New
NVT Nvent Electric PLC 0.00% 4,242 $311K New
GIS General Mills Inc. 0.00% 5,908 $306K Reduce -14.0%
ALC Alcon Inc. filed as ALCON AG 0.00% 3,345 $295K Reduce -75.8%
PH Parker Hannifin Corp. 0.00% 420 $293K No change
ENPH Enphase Energy Inc. 0.00% 7,351 $291K Add +12.8%
SHEL Shell PLC-ADR 0.00% 3,800 $268K No change
FBIN Fortune Brands Innovations I 0.00% 4,590 $267K Add +24.1%
SKM SK Telecom Co. Ltd.-Spon ADR 0.00% 11,000 $257K No change
BKNG Booking Holdings Inc. 0.00% 39 $226K New
CFLT Confluent Inc. Class A 0.00% 8,700 $217K No change
NTRS Northern Trust Corp. 0.00% 1,667 $211K New
TD Toronto-Dominion Bank 0.00% 2,850 $209K New
WFC Wells Fargo & Co. 0.00% 2,558 $205K New
SITM Sitime Corp. 0.00% 960 $205K New
SAN Banco Santander SA-Spon ADR 0.00% 17,500 $145K New
DVAX Dynavax Technologies Corp. 0.00% 13,613 $135K No change
IOVA Iovance Biotherapeutics Inc. 0.00% 20,553 $35K No change

Portfolio Sells Q1 2025 → Q2 2025

AAPL Apple Inc. Reduce -13.0% 5.09% −1.93
LLY Eli Lilly & Co. Reduce -1.2% 6.25% −1.18
AMD Advanced Micro Devices Reduce -70.7% 0.49% −0.84
A Agilent Technologies Inc. Reduce -26.7% 0.86% −0.43
UNP Union Pacific Corp. Reduce -41.2% 0.43% −0.40
AMGN Amgen Inc. Reduce -58.8% 0.18% −0.35
AZN Astrazeneca PLC-Spons ADR Reduce -0.1% 1.54% −0.26
NVO Novo-Nordisk A/S-Spons ADR Reduce -1.0% 1.98% −0.25
LOW Lowe's Cos Inc. Reduce -0.1% 1.28% −0.21
CL Colgate-Palmolive Co. Reduce -8.1% 0.55% −0.13
UPS United Parcel Service Class B Reduce -2.4% 0.37% −0.09
JNJ Johnson & Johnson Reduce -0.1% 0.38% −0.08
ABT Abbott Laboratories Reduce -0.2% 0.72% −0.06
LECO Lincoln Electric Holdings Reduce -4.0% 0.75% −0.04
MRK Merck & Co. Inc. Reduce -0.1% 0.16% −0.04
KEYS Keysight Technologies Inc. Reduce -0.5% 1.89% −0.03
COP Conocophillips Reduce -74.5% 0.01% −0.02
NVS Novartis AG-Sponsored ADR Reduce -1.3% 0.52% −0.02
ALC Alcon Inc. Reduce -75.8% 0.00% −0.02
ZTS Zoetis Inc. Sold out 0.00% −0.02
EW Edwards Lifesciences Corp. Sold out 0.00% −0.01
EMR Emerson Electric Co. Reduce -66.7% 0.01% −0.01
LULU Lululemon Athletica Inc. Sold out 0.00% −0.01
ACN Accenture PLC Class A Reduce -5.4% 0.04% −0.01
UNH Unitedhealth Group Inc. Reduce -32.9% 0.01% −0.01
EXPO Exponent Inc. Reduce -15.0% 0.02% −0.01
WSO Watsco Inc. Reduce -6.5% 0.02% −0.01
MA Mastercard Inc. Class A Reduce -3.6% 0.05% −0.01
ORANY Orange-Spon ADR Sold out 0.00% −0.00
COST Costco Wholesale Corp. Reduce -0.4% 0.06% −0.00
RXST Rxsight Inc. Sold out 0.00% −0.00
PSX Phillips 66 Reduce -26.2% 0.01% −0.00
ESTC Elastic NV Sold out 0.00% −0.00
CVX Chevron Corp. Sold out 0.00% −0.00
CRM Salesforce Inc. Reduce -2.6% 0.02% −0.00
FSLR First Solar Inc. Reduce -35.5% 0.01% −0.00
GIS General Mills Inc. Reduce -14.0% 0.00% −0.00
CSW CSW Industrials Inc. Reduce -1.6% 0.01% −0.00
BHP BHP Group Ltd.-Spon ADR Reduce -2.1% 0.01% −0.00
NSC Norfolk Southern Corp. Reduce -1.0% 0.01% −0.00
NXPI NXP Semiconductors NV Reduce -0.8% 0.02% +0.00
JPM JPMorgan Chase & Co. Reduce -1.0% 0.01% +0.00
AGX Argan Inc. Reduce -17.9% 0.01% +0.00
TEL Te Connectivity PLC Reduce -0.4% 0.03% +0.00
CCJ Cameco Corp. Reduce -1.5% 0.01% +0.00
LMB Limbach Holdings Inc. Reduce -12.5% 0.01% +0.00
MELI MercadoLibre Inc. Reduce -7.5% 0.08% +0.01
TRMB Trimble Inc. Reduce -0.0% 1.74% +0.07
ORCL Oracle Corp. Reduce -0.4% 2.82% +0.81
NVDA Nvidia Corp. Reduce -3.3% 4.80% +1.03

Portfolio Buys Q1 2025 → Q2 2025

AVGO Broadcom Inc. Add +0.2% 5.71% +1.88
TSM Taiwan Semiconductor-SP ADR Add +0.2% 6.54% +1.24
MSFT Microsoft Corp. Add +0.1% 7.48% +1.23
JCI Johnson Controls Internation Add +0.2% 3.78% +0.61
INTU Intuit Inc. Add +0.2% 3.15% +0.43
NOW ServiceNow Inc. Add +0.3% 2.63% +0.38
TT Trane Technologies PLC Add +0.3% 2.39% +0.36
ASML ASML Holding NV-NY Reg SHS Add +0.2% 3.48% +0.30
ROK Rockwell Automation Inc. Add +0.1% 1.35% +0.19
ETN Eaton Corp. PLC Add +0.3% 0.98% +0.16
FERG Ferguson Enterprises Inc. Add +0.1% 0.70% +0.13
GOOGL Alphabet Inc. Class A Add +0.6% 3.43% +0.12
CRH CRH PLC New 0.06% +0.06
NKE Nike Inc. Class B Add +47.7% 0.15% +0.05
TXN Texas Instruments Inc. Add +2.2% 0.76% +0.05
MPWR Monolithic Power Systems Inc. Add +256.9% 0.06% +0.04
CSCO Cisco Systems Inc. Add +0.2% 1.64% +0.03
CPRT Copart Inc. New 0.02% +0.02
BSX Boston Scientific Corp. Add +57.7% 0.06% +0.02
SAP Sap SE-Sponsored ADR Add +22.9% 0.08% +0.02
WM Waste Management Inc. Add +199.9% 0.02% +0.01
PWR Quanta Services Inc. Add +1.6% 0.04% +0.01
WELL Welltower Inc. New 0.01% +0.01
APH Amphenol Corp. Class A New 0.01% +0.01
MCHP Microchip Technology Inc. New 0.01% +0.01
SQM Quimica Y Minera Chil-SP ADR Add +62.7% 0.04% +0.01
META Meta Platforms Inc. Class A Add +3.8% 0.05% +0.01
FTNT Fortinet Inc. Add +39.5% 0.02% +0.01
DHR Danaher Corp. New 0.01% +0.01
CTVA Corteva Inc. Add +11.8% 0.03% +0.00
ISRG Intuitive Surgical Inc. New 0.00% +0.00
TLK Telkom Indonesia Persero-ADR Add +20.3% 0.02% +0.00
SNN Smith & Nephew PLC -Spon ADR New 0.00% +0.00
NVT Nvent Electric PLC New 0.00% +0.00
EQIX Equinix Inc. Add +49.0% 0.02% +0.00
BKNG Booking Holdings Inc. New 0.00% +0.00
NTRS Northern Trust Corp. New 0.00% +0.00
SITM Sitime Corp. New 0.00% +0.00
TD Toronto-Dominion Bank New 0.00% +0.00
WFC Wells Fargo & Co. New 0.00% +0.00
INFY Infosys Ltd.-SP ADR Add +15.0% 0.05% +0.00
SAN Banco Santander SA-Spon ADR New 0.00% +0.00
TYL Tyler Technologies Inc. Add +14.9% 0.03% +0.00
PANW Palo Alto Networks Inc. Add +0.1% 0.02% +0.00
B Barrick Mining Corp. Add +6.6% 0.05% +0.00
AEM Agnico Eagle Mines Ltd. Add +2.6% 0.05% +0.00
GOOG Alphabet Inc. Class C Add +12.5% 0.00% +0.00
FBIN Fortune Brands Innovations I Add +24.1% 0.00% +0.00
MTRX Matrix Service Co. Add +4.2% 0.00% +0.00
VMRK Vivmark Residential Add +10.2% 0.01% −0.00

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