Saturna Capital Corp.

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Saturna Capital Corp. reported 157 stock positions worth $7.8 billion. Its top holding was Taiwan Semiconductor-SP ADR (TSM) at 7.7% of the portfolio, followed by Microsoft (MSFT, 7.4%) and Broadcom (AVGO, 6.5%). Compared with Q2 2025, it opened 6 new positions, sold out of 6, added to 49 and reduced 62. The biggest buy was Taiwan Semiconductor-SP ADR (TSM, shares +0%) and the biggest sale Procter & Gamble (PG, shares −83%).

Most Recent 13F
Q2 2026
Location
BELLINGHAM, WA
CIK
0001316617
Portfolio Value
$7.8B (Q3 2025)
SEC Filing
0001316617-25-000012 ↗ filed Nov 14, 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 Q2 2025 Q3 2025: $7.8B $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 · $7.8B
TSM Taiwan Semiconductor-SP ADR 7.70% 2,139,440 $597.5M Add +0.1%
MSFT Microsoft Corp. 7.44% 1,114,146 $577.1M Add +0.1%
AVGO Broadcom Inc. 6.51% 1,531,367 $505.2M Reduce -0.2%
AAPL Apple Inc. 5.90% 1,798,007 $457.8M Reduce -2.0%
LLY Eli Lilly & Co. 5.80% 589,510 $449.8M Reduce -0.7%
NVDA Nvidia Corp. 5.38% 2,236,700 $417.3M Reduce -0.4%
GOOGL Alphabet Inc. Class A 4.53% 1,444,219 $351.1M Add +0.2%
ASML ASML Holding NV-NY Reg SHS 4.01% 321,457 $311.2M Add +0.1%
JCI Johnson Controls Internation 3.75% 2,646,952 $291.0M Reduce -0.0%
ORCL Oracle Corp. 3.43% 947,151 $266.4M Reduce -0.6%
INTU Intuit Inc. 2.61% 296,119 $202.2M Add +0.1%
TJX TJX Companies Inc. filed as TJX COS INC NEW 2.29% 1,230,514 $177.9M Reduce -0.0%
AZO AutoZone Inc. 2.28% 41,230 $176.9M Add +0.8%
NOW ServiceNow Inc. 2.25% 189,677 $174.6M Add +0.1%
ABBV Abbvie Inc. 2.24% 749,148 $173.5M Add +4.2%
TT Trane Technologies PLC 2.20% 404,971 $170.9M Reduce 0.0%
KEYS Keysight Technologies Inc. 1.92% 851,670 $149.0M Reduce -0.0%
TRMB Trimble Inc. 1.78% 1,688,938 $137.9M Reduce -0.1%
AZN Astrazeneca PLC-Spons ADR 1.62% 1,634,995 $125.4M Add +0.1%
CSCO Cisco Systems Inc. 1.54% 1,744,897 $119.4M Add +0.0%
SYK Stryker Corp. 1.51% 317,316 $117.3M Add +0.0%
NVO Novo-Nordisk A/S-Spons ADR 1.48% 2,074,653 $115.1M Reduce -2.3%
LOW Lowe's Cos Inc. 1.38% 425,924 $107.0M Reduce -0.2%
ROK Rockwell Automation Inc. 1.36% 301,507 $105.4M No change
CHD Church & Dwight Co. Inc. 1.35% 1,191,945 $104.5M Reduce -0.6%
ITW Illinois Tool Works 1.04% 308,203 $80.4M Reduce -0.0%
ADBE Adobe Inc. 1.02% 223,645 $78.9M Reduce -34.6%
GWW WW Grainger Inc. filed as GRAINGER W W INC 1.01% 82,003 $78.1M No change
ETN Eaton Corp. PLC 0.98% 203,362 $76.1M Reduce -0.1%
LIN Linde PLC 0.83% 136,302 $64.7M Add +0.2%
LECO Lincoln Electric Holdings 0.82% 269,020 $63.4M Reduce -0.0%
FERG Ferguson Enterprises Inc. 0.69% 238,803 $53.6M Add +0.3%
GPC Genuine Parts Co. 0.69% 384,075 $53.2M No change
ABT Abbott Laboratories 0.68% 392,295 $52.5M Reduce -0.0%
TXN Texas Instruments Inc. 0.63% 265,692 $48.8M Reduce -2.3%
AMD Advanced Micro Devices 0.55% 265,400 $42.9M Add +4.8%
NVS Novartis AG-Sponsored ADR 0.52% 315,301 $40.4M Reduce -0.2%
A Agilent Technologies Inc. 0.51% 307,400 $39.5M Reduce -43.0%
KMB Kimberly-Clark Corp. 0.48% 301,374 $37.5M No change
UL Unilever PLC 0.47% 612,638 $36.3M Add +1.0%
CNI Canadian Natl Railway Co. 0.47% 384,280 $36.2M No change
CL Colgate-Palmolive Co. 0.46% 450,327 $36.0M No change
JNJ Johnson & Johnson 0.44% 182,083 $33.8M Reduce -0.2%
MKC McCormick & Co.-Non VTG SHRS 0.43% 497,596 $33.3M Reduce -11.2%
APD Air Products & Chemicals Inc. 0.40% 113,535 $31.0M Add +2.3%
IT Gartner Inc. 0.39% 113,941 $30.0M Reduce -36.9%
WM Waste Management Inc. 0.36% 126,549 $27.9M Add +2062.9%
KVUE Kenvue Inc. 0.36% 1,718,707 $27.9M Reduce -0.7%
UPS United Parcel Service Class B 0.33% 305,525 $25.5M Add +13.9%
PG The Procter & Gamble Co. 0.32% 159,382 $24.5M Reduce -82.8%
HD Home Depot Inc. 0.27% 51,804 $21.0M Add +50.3%
CRH CRH PLC 0.17% 112,022 $13.4M Add +131.1%
MRK Merck & Co. Inc. 0.16% 145,149 $12.2M Add +0.0%
NKE Nike Inc. Class B 0.14% 155,830 $10.9M Add +0.5%
QCOM Qualcomm Inc. 0.12% 53,699 $8.9M Add +5.7%
RIO Rio Tinto PLC-Spon ADR 0.09% 106,269 $7.0M Add +23.7%
B Barrick Mining Corp. 0.09% 211,561 $6.9M Add +19.8%
JBL Jabil Inc. 0.08% 29,560 $6.4M Add +3.4%
AMZN Amazon.com Inc. 0.08% 28,999 $6.4M No change
MPWR Monolithic Power Systems Inc. 0.08% 6,781 $6.2M Add +17.4%
ORLY O'reilly Automotive Inc. 0.08% 57,302 $6.2M Reduce -0.2%
SCCO Southern Copper Corp. 0.07% 45,150 $5.5M Add +1.0%
SQM Quimica Y Minera Chil-SP ADR filed as SOCIEDAD QUIMICA Y MINERA DE 0.06% 110,407 $4.7M Add +37.3%
AEM Agnico Eagle Mines Ltd. 0.06% 27,327 $4.6M Reduce -6.3%
SAP Sap SE-Sponsored ADR 0.06% 16,778 $4.5M Reduce -15.9%
MELI MercadoLibre Inc. 0.05% 1,795 $4.2M Reduce -23.9%
BSX Boston Scientific Corp. 0.05% 42,221 $4.1M Add +1.0%
COST Costco Wholesale Corp. 0.05% 4,346 $4.0M No change
META Meta Platforms Inc. Class A 0.04% 4,702 $3.5M Add +2.1%
INFY Infosys Ltd.-SP ADR 0.04% 211,318 $3.4M Add +10.4%
MSI Motorola Solutions Inc. 0.04% 7,369 $3.4M Reduce -0.3%
MA Mastercard Inc. Class A 0.04% 5,580 $3.2M Reduce -6.2%
PWR Quanta Services Inc. 0.04% 7,156 $3.0M Reduce -11.2%
TEL Te Connectivity PLC 0.04% 12,854 $2.8M Reduce -4.5%
APH Amphenol Corp. Class A 0.04% 22,065 $2.7M Add +194.2%
NICE Nice Ltd. - Spon ADR 0.04% 18,742 $2.7M Reduce -0.9%
RSG Republic Services Inc. 0.03% 10,168 $2.3M Add +39.0%
MNST Monster Beverage Corp. 0.03% 33,383 $2.2M No change
MCO Moody's Corp. 0.03% 4,681 $2.2M Reduce -6.7%
PSA Public Storage 0.03% 7,123 $2.1M Reduce -0.2%
TYL Tyler Technologies Inc. 0.02% 3,977 $1.9M Reduce -5.4%
TLK Telkom Indonesia Persero-ADR filed as P T TELEKOMUNIKASI INDONESIA 0.02% 100,782 $1.9M No change
FIX Comfort Systems USA Inc. 0.02% 2,246 $1.9M Reduce -8.4%
FAST Fastenal Co. 0.02% 36,300 $1.8M Add +0.0%
CTVA Corteva Inc. 0.02% 25,553 $1.7M Reduce -10.2%
FTNT Fortinet Inc. 0.02% 20,334 $1.7M Add +20.8%
CPRT Copart Inc. 0.02% 34,012 $1.5M Reduce -8.4%
CRM Salesforce Inc. 0.02% 6,386 $1.5M Reduce -5.5%
PLD Prologis Inc. 0.02% 12,970 $1.5M Add +4.8%
NEE Nextera Energy Inc. 0.02% 16,415 $1.2M No change
JPM JPMorgan Chase & Co. 0.02% 3,873 $1.2M Add +34.8%
DHR Danaher Corp. 0.02% 5,978 $1.2M Add +157.1%
NSC Norfolk Southern Corp. 0.02% 3,940 $1.2M Reduce -2.4%
ROST Ross Stores Inc. 0.02% 7,669 $1.2M Add +205.5%
WELL Welltower Inc. 0.01% 6,280 $1.1M Add +20.9%
EQIX Equinix Inc. 0.01% 1,417 $1.1M No change
CB Chubb Ltd. 0.01% 3,170 $895K No change
GSK GSK PLC-Spon ADR 0.01% 20,650 $891K Reduce -8.9%
ITRI Itron Inc. 0.01% 6,992 $871K Reduce -29.9%
TSCO Tractor Supply Company 0.01% 14,830 $843K No change
CCJ Cameco Corp. 0.01% 9,593 $804K No change
FSLR First Solar Inc. 0.01% 3,448 $760K Reduce -12.6%
D Dominion Energy Inc. 0.01% 12,315 $753K No change
CSW CSW Industrials Inc. 0.01% 3,042 $738K Reduce -10.4%
ACM Aecom 0.01% 5,635 $735K New
EME Emcor Group Inc. 0.01% 1,103 $716K Reduce -3.4%
AON Aon PLC Class A 0.01% 1,989 $709K No change
SNN Smith & Nephew PLC -Spon ADR 0.01% 19,116 $694K Add +88.0%
ROP Roper Technologies Inc. 0.01% 1,338 $667K Add +0.8%
ACN Accenture PLC Class A 0.01% 2,700 $666K Reduce -73.6%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.01% 2,324 $656K No change
NXPI NXP Semiconductors NV 0.01% 2,879 $656K Reduce -53.6%
BHP BHP Group Ltd.-Spon ADR 0.01% 11,624 $648K No change
CPT Camden Property Trust 0.01% 5,990 $640K No change
VMRK Vivmark Residential filed as EQUITY RESIDENTIAL 0.01% 9,575 $620K No change
TER Teradyne Inc. 0.01% 4,402 $606K New
PCH Potlatchdeltic Corp. 0.01% 14,280 $582K No change
SONY Sony Group Corp. - SP ADR 0.01% 20,000 $576K No change
EMR Emerson Electric Co. 0.01% 4,387 $575K Add +3.0%
MCHP Microchip Technology Inc. 0.01% 8,743 $561K Reduce -9.2%
MAA Mid-America Apartment Comm 0.01% 3,910 $546K No change
WY Weyerhaeuser Co. 0.01% 21,979 $545K No change
VIRT Virtu Financial Inc. Class A 0.01% 15,000 $533K No change
FND Floor & Decor Holdings Inc. Class A 0.01% 7,150 $527K No change
NVT Nvent Electric PLC 0.01% 5,342 $527K Add +25.9%
PANW Palo Alto Networks Inc. 0.01% 2,584 $526K Reduce -68.4%
PSX Phillips 66 0.01% 3,781 $514K Reduce -2.8%
LMB Limbach Holdings Inc. 0.01% 5,145 $500K Reduce -25.1%
GOOG Alphabet Inc. Class C 0.01% 2,001 $487K Add +2.6%
V Visa Inc. Class A 0.01% 1,369 $467K No change
COP Conocophillips 0.01% 4,890 $463K Reduce -2.7%
ZS Zscaler Inc. 0.01% 1,458 $437K Add +4.3%
AGX Argan Inc. 0.01% 1,589 $429K Reduce -23.5%
CDNS Cadence Design SYS Inc. 0.01% 1,180 $414K New
ECL Ecolab Inc. 0.01% 1,500 $411K No change
ENPH Enphase Energy Inc. 0.00% 10,060 $356K Add +36.9%
CRWD CrowdStrike Holdings Inc. Class A 0.00% 718 $352K New
VZ Verizon Communications Inc. 0.00% 7,410 $326K No change
PH Parker Hannifin Corp. 0.00% 420 $318K No change
UNP Union Pacific Corp. 0.00% 1,234 $292K Reduce -99.1%
SITM Sitime Corp. 0.00% 960 $289K No change
EXPO Exponent Inc. 0.00% 4,000 $278K Reduce -74.7%
SHEL Shell PLC-ADR 0.00% 3,800 $272K No change
SAN Banco Santander SA-Spon ADR 0.00% 23,775 $249K Add +35.9%
FBIN Fortune Brands Innovations I 0.00% 4,590 $245K No change
STX Seagate Technology Holdings 0.00% 1,032 $244K New
CP Canadian Pacific Kansas City 0.00% 3,200 $238K Reduce -44.5%
SKM SK Telecom Co. Ltd.-Spon ADR 0.00% 11,000 $238K No change
MTRX Matrix Service Co. 0.00% 17,606 $230K Reduce -26.2%
TD Toronto-Dominion Bank 0.00% 2,850 $228K No change
ALC Alcon Inc. filed as ALCON AG 0.00% 3,045 $227K Reduce -9.0%
NTRS Northern Trust Corp. 0.00% 1,667 $224K No change
WSO Watsco Inc. 0.00% 537 $217K Reduce -82.4%
WFC Wells Fargo & Co. 0.00% 2,558 $214K No change
RTX RTX Corp. 0.00% 1,251 $209K New
DVAX Dynavax Technologies Corp. 0.00% 13,613 $135K No change
IOVA Iovance Biotherapeutics Inc. 0.00% 20,553 $45K No change

Portfolio Sells Q2 2025 → Q3 2025
PG The Procter & Gamble Co. Reduce -82.8% 0.32% −1.67
ADBE Adobe Inc. Reduce -34.6% 1.02% −0.77
IT Gartner Inc. Reduce -36.9% 0.39% −0.60
NVO Novo-Nordisk A/S-Spons ADR Reduce -2.3% 1.48% −0.50
LLY Eli Lilly & Co. Reduce -0.7% 5.80% −0.46
UNP Union Pacific Corp. Reduce -99.1% 0.00% −0.42
A Agilent Technologies Inc. Reduce -43.0% 0.51% −0.35
CHD Church & Dwight Co. Inc. Reduce -0.6% 1.35% −0.21
TT Trane Technologies PLC Reduce 0.0% 2.20% −0.19
AMGN Amgen Inc. Sold out 0.00% −0.18
MKC McCormick & Co.-Non VTG SHRS Reduce -11.2% 0.43% −0.14
TXN Texas Instruments Inc. Reduce -2.3% 0.63% −0.13
KVUE Kenvue Inc. Reduce -0.7% 0.36% −0.13
ABT Abbott Laboratories Reduce -0.0% 0.68% −0.04
ACN Accenture PLC Class A Reduce -73.6% 0.01% −0.03
MELI MercadoLibre Inc. Reduce -23.9% 0.05% −0.03
JCI Johnson Controls Internation Reduce -0.0% 3.75% −0.03
SAP Sap SE-Sponsored ADR Reduce -15.9% 0.06% −0.02
PANW Palo Alto Networks Inc. Reduce -68.4% 0.01% −0.02
WSO Watsco Inc. Reduce -82.4% 0.00% −0.02
EXPO Exponent Inc. Reduce -74.7% 0.00% −0.01
NXPI NXP Semiconductors NV Reduce -53.6% 0.01% −0.01
TYL Tyler Technologies Inc. Reduce -5.4% 0.02% −0.01
NICE Nice Ltd. - Spon ADR Reduce -0.9% 0.04% −0.01
LMB Limbach Holdings Inc. Reduce -25.1% 0.01% −0.01
ITRI Itron Inc. Reduce -29.9% 0.01% −0.01
CTVA Corteva Inc. Reduce -10.2% 0.02% −0.01
CRM Salesforce Inc. Reduce -5.5% 0.02% −0.01
MCO Moody's Corp. Reduce -6.7% 0.03% −0.01
UNH Unitedhealth Group Inc. Sold out 0.00% −0.01
CPRT Copart Inc. Reduce -8.4% 0.02% −0.00
ISRG Intuitive Surgical Inc. Sold out 0.00% −0.00
MA Mastercard Inc. Class A Reduce -6.2% 0.04% −0.00
GIS General Mills Inc. Sold out 0.00% −0.00
CSW CSW Industrials Inc. Reduce -10.4% 0.01% −0.00
BKNG Booking Holdings Inc. Sold out 0.00% −0.00
CP Canadian Pacific Kansas City Reduce -44.5% 0.00% −0.00
PWR Quanta Services Inc. Reduce -11.2% 0.04% −0.00
CFLT Confluent Inc. Class A Sold out 0.00% −0.00
MCHP Microchip Technology Inc. Reduce -9.2% 0.01% −0.00
PSA Public Storage Reduce -0.2% 0.03% −0.00
MTRX Matrix Service Co. Reduce -26.2% 0.00% −0.00
ALC Alcon Inc. Reduce -9.0% 0.00% −0.00
AGX Argan Inc. Reduce -23.5% 0.01% −0.00
ETN Eaton Corp. PLC Reduce -0.1% 0.98% −0.00
GSK GSK PLC-Spon ADR Reduce -8.9% 0.01% −0.00
COP Conocophillips Reduce -2.7% 0.01% −0.00
PSX Phillips 66 Reduce -2.8% 0.01% +0.00
EME Emcor Group Inc. Reduce -3.4% 0.01% +0.00
FSLR First Solar Inc. Reduce -12.6% 0.01% +0.00

Portfolio Buys Q2 2025 → Q3 2025
TSM Taiwan Semiconductor-SP ADR Add +0.1% 7.70% +1.16
GOOGL Alphabet Inc. Class A Add +0.2% 4.53% +1.09
ASML ASML Holding NV-NY Reg SHS Add +0.1% 4.01% +0.54
ABBV Abbvie Inc. Add +4.2% 2.24% +0.43
WM Waste Management Inc. Add +2062.9% 0.36% +0.34
AZO AutoZone Inc. Add +0.8% 2.28% +0.23
CRH CRH PLC Add +131.1% 0.17% +0.11
HD Home Depot Inc. Add +50.3% 0.27% +0.10
AZN Astrazeneca PLC-Spons ADR Add +0.1% 1.62% +0.07
AMD Advanced Micro Devices Add +4.8% 0.55% +0.07
B Barrick Mining Corp. Add +19.8% 0.09% +0.04
APH Amphenol Corp. Class A Add +194.2% 0.04% +0.03
MPWR Monolithic Power Systems Inc. Add +17.4% 0.08% +0.02
SQM Quimica Y Minera Chil-SP ADR Add +37.3% 0.06% +0.02
RIO Rio Tinto PLC-Spon ADR Add +23.7% 0.09% +0.02
ROST Ross Stores Inc. Add +205.5% 0.02% +0.01
ACM Aecom New 0.01% +0.01
SCCO Southern Copper Corp. Add +1.0% 0.07% +0.01
DHR Danaher Corp. Add +157.1% 0.02% +0.01
TER Teradyne Inc. New 0.01% +0.01
QCOM Qualcomm Inc. Add +5.7% 0.12% +0.01
RSG Republic Services Inc. Add +39.0% 0.03% +0.01
CDNS Cadence Design SYS Inc. New 0.01% +0.01
SNN Smith & Nephew PLC -Spon ADR Add +88.0% 0.01% +0.00
CRWD CrowdStrike Holdings Inc. Class A New 0.00% +0.00
JPM JPMorgan Chase & Co. Add +34.8% 0.02% +0.00
WELL Welltower Inc. Add +20.9% 0.01% +0.00
STX Seagate Technology Holdings New 0.00% +0.00
RTX RTX Corp. New 0.00% +0.00
NVT Nvent Electric PLC Add +25.9% 0.01% +0.00
FAST Fastenal Co. Add +0.0% 0.02% +0.00
MRK Merck & Co. Inc. Add +0.0% 0.16% +0.00
GOOG Alphabet Inc. Class C Add +2.6% 0.01% +0.00
PLD Prologis Inc. Add +4.8% 0.02% +0.00
SAN Banco Santander SA-Spon ADR Add +35.9% 0.00% +0.00
ENPH Enphase Energy Inc. Add +36.9% 0.00% +0.00
EMR Emerson Electric Co. Add +3.0% 0.01% −0.00
ZS Zscaler Inc. Add +4.3% 0.01% −0.00
META Meta Platforms Inc. Class A Add +2.1% 0.04% −0.00
JBL Jabil Inc. Add +3.4% 0.08% −0.00
ROP Roper Technologies Inc. Add +0.8% 0.01% −0.00
FTNT Fortinet Inc. Add +20.8% 0.02% −0.00
INFY Infosys Ltd.-SP ADR Add +10.4% 0.04% −0.00
BSX Boston Scientific Corp. Add +1.0% 0.05% −0.01
NKE Nike Inc. Class B Add +0.5% 0.14% −0.01
FERG Ferguson Enterprises Inc. Add +0.3% 0.69% −0.01
APD Air Products & Chemicals Inc. Add +2.3% 0.40% −0.02
LIN Linde PLC Add +0.2% 0.83% −0.03
UL Unilever PLC Add +1.0% 0.47% −0.03
UPS United Parcel Service Class B Add +13.9% 0.33% −0.04

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