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: 811-04276
AMANA MUTUAL FUNDS 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: May 31, 2013
Date of reporting period: August 31, 2012
Item 1. Schedule of Investments
The unaudited schedule of investments as of the close of the reporting period is as follows:
| Amana Mutual Funds Trust, Income Fund | ||||
| Common Stocks – 91.6 % | Number of Shares | Market Value | Percentage of Assets | |
| Communications – 2.9% | ||||
| Local Media | ||||
| Pearson ADR | 300,000 | $5,730,000 | 0.4% | |
| Telecom Carriers | ||||
| Chunghwa Telecom ADR | 555,154 | 16,676,826 | 1.3% | |
| Telstra ADR | 150,000 | 2,980,500 | 0.2% | |
| Telus | 100,000 | 6,187,000 | 0.5% | |
| Vodafone Group ADR | 250,000 | 7,230,000 | 0.5% | |
| 33,074,326 | 2.5% | |||
| 38,804,326 | 2.9% | |||
| Consumer Discretionary – 8.1% | ||||
| Apparel, Footwear, Accessory Design | ||||
| Nike | 310,000 | 30,181,600 | 2.3% | |
| Auto Parts | ||||
| Johnson Controls | 600,000 | 16,326,000 | 1.2% | |
| Illinois Tool Works | 500,000 | 29,645,000 | 2.2% | |
| 45,971,000 | 3.4% | |||
| Automotive Wholesale | ||||
| Genuine Parts | 400,000 | 25,264,000 | 1.9% | |
| Home Improvement | ||||
| Stanley Black & Decker | 100,000 | 6,578,000 | 0.5% | |
| 107,994,600 | 8.1% | |||
| Consumer Staples – 16.3% | ||||
| Beverages | ||||
| PepsiCo | 400,000 | 28,972,000 | 2.2% | |
| Food Manufacturing | ||||
| General Mills | 600,000 | 23,598,000 | 1.8% | |
| Kellogg | 550,000 | 27,857,500 | 2.1% | |
| McCormick & Co | 300,000 | 18,432,000 | 1.4% | |
| JM Smucker | 250,000 | 21,242,500 | 1.6% | |
| 91,130,000 | 6.9% | |||
| Household Products Manufacturing | ||||
| Colgate – Palmolive | 300,000 | 31,893,000 | 2.4% | |
| Kimberly – Clark | 300,000 | 25,080,000 | 1.9% | |
| Procter & Gamble | 400,000 | 26,876,000 | 2.0% | |
| Unilever ADR | 325,000 | 11,661,000 | 0.9% | |
| 95,510,000 | 7.2% | |||
| 215,612,000 | 16.3% | |||
| Energy – 7.5% | ||||
| Exploration & Production | ||||
| EnCana | 500,000 | 11,100,000 | 0.9% | |
| Integrated Oils | ||||
| Cenovus | 400,000 | 13,080,000 | 1.0% | |
| ConocoPhillips | 330,000 | 18,740,700 | 1.4% | |
| Exxon Mobil | 350,000 | 30,555,000 | 2.3% | |
| Total ADR | 375,000 | 18,697,500 | 1.4% | |
| 81,073,200 | 6.1% | |||
| Refining & Marketing | ||||
| Phillips 66 | 165,000 | 6,930,000 | 0.5% | |
| 99,103,200 | 7.5% | |||
| Health Care – 16.2% | ||||
| Health Care Supplies | ||||
| Becton, Dickinson & Co. | 210,000 | 15,955,800 | 1.2% | |
| Large Pharmaceuticals | ||||
| Abbott Laboratories | 350,000 | 22,939,000 | 1.7% | |
| AstraZeneca ADR | 320,000 | 14,972,800 | 1.1% | |
| Bristol – Myers Squibb | 800,000 | 26,408,000 | 2.0% | |
| GlaxoSmithKline ADR | 600,000 | 27,294,000 | 2.0% | |
| Johnson & Johnson | 310,000 | 20,903,300 | 1.6% | |
| Eli Lilly | 700,000 | 31,437,000 | 2.4% | |
| Novartis ADR | 450,000 | 26,554,500 | 2.0% | |
| Pfizer | 1,200,000 | 28,632,000 | 2.2% | |
| 199,140,600 | 15.0% | |||
| 215,096,400 | 16.2% | |||
| Industrials – 17.5% | ||||
| Aerospace & Defense Parts | ||||
| United Technologies | 250,000 | 19,962,500 | 1.5% | |
| Flow Control Equipment | ||||
| Parker Hannifin | 275,000 | 21,994,500 | 1.7% | |
| Industrial Automation Controls | ||||
| Emerson Electric | 450,000 | 22,824,000 | 1.7% | |
| Honeywell International | 450,000 | 26,302,500 | 2.0% | |
| 49,126,500 | 3.7% | |||
| Industrial Machinery Manufacturing | ||||
| Regal – Beloit | 100,000 | 6,806,000 | 0.5% | |
| Industrial Supply Distribution | ||||
| W.W. Grainger | 150,000 | 30,894,000 | 2.3% | |
| Measurement Instruments | ||||
| Rockwell Automation | 325,000 | 23,419,500 | 1.8% | |
| Post & Courier Services | ||||
| United Parcel Service | 300,000 | 22,143,000 | 1.7% | |
| Rail Freight Transportation | ||||
| Canadian National Railway | 350,000 | 32,039,000 | 2.4% | |
| Rubber & Plastic Manufacturing | ||||
| Carlisle | 490,000 | 25,646,600 | 1.9% | |
| 232,031,600 | 17.5% | |||
| Materials – 12.9% | ||||
| Base Metals | ||||
| Freeport – McMoRan Copper & Gold | 550,000 | 19,860,500 | 1.5% | |
| Basic & Diversified Chemicals | ||||
| Air Products & Chemicals | 250,000 | 20,645,000 | 1.5% | |
| Methanex | 300,000 | 8,943,000 | 0.7% | |
| PPG Industries | 200,000 | 22,004,000 | 1.7% | |
| Praxair | 220,000 | 23,210,000 | 1.7% | |
| 74,802,000 | 5.6% | |||
| Containers & Packaging Manufacturing | ||||
| 3M | 260,000 | 24,076,000 | 1.8% | |
| Specialty Chemicals | ||||
| BASF ADR | 140,000 | 10,845,800 | 0.8% | |
| E.I. du Pont de Nemours | 400,000 | 19,900,000 | 1.5% | |
| RPM International | 180,000 | 4,933,800 | 0.4% | |
| 35,679,600 | 2.7% | |||
| Steel Producers | ||||
| Nucor | 200,000 | 7,530,000 | 0.6% | |
| United States Steel | 250,000 | 4,862,500 | 0.4% | |
| Tenaris ADR | 110,000 | 4,588,100 | 0.3% | |
| 16,980,600 | 1.3% | |||
| 171,398,700 | 12.9% | |||
| Technology – 9.0% | ||||
| Information Services | ||||
| Dun & Bradstreet | 200,000 | 16,190,000 | 1.2% | |
| Infrastructure Software | ||||
| Microsoft | 1,000,000 | 30,820,000 | 2.3% | |
| Semiconductor Devices | ||||
| Intel | 1,200,000 | 29,796,000 | 2.2% | |
| Microchip Technology | 600,000 | 20,850,000 | 1.6% | |
| 50,646,000 | 3.8% | |||
| Semiconductor Manufacturing Services | ||||
| Taiwan Semiconductor ADR | 1,500,000 | 22,050,000 | 1.7% | |
| 119,706,000 | 9.0% | |||
| Utilities – 1.2% | ||||
| Electric & Gas Marketing & Trading | ||||
| E.ON ADR | 206,139 | 4,712,338 | 0.4% | |
| Utility Networks | ||||
| Enersis ADR | 200,000 | 3,294,000 | 0.2% | |
| National Fuel Gas | 170,000 | 8,483,000 | 0.6% | |
| 11,777,000 | 0.8% | |||
| 16,489,338 | 1.2% | |||
| Total Common stocks | $1,216,236,164 | 91.6% | ||
|
| ||||
| Halal Income – 0.4% | Coupon/Maturity | Face Amount | Market Value | Percentage of Assets |
| Sukuk | ||||
| 1Malaysia Sukuk | 3.928% due 06/04/2015 | $5,000,000 | $5,321,230 | 0.4% |
| Total investments | (Cost = $962,170,453) | 1,221,557,394 | 92.0% | |
| Other assets (net of liabilities) | 105,646,817 | 8.0% | ||
| Total net assets | $1,327,204,211 | 100.0% | ||
| ADS: American Depositary Share | ||||
| ADR: American Depositary Receipt | ||||
| Amana Mutual Funds Trust, Growth Fund | |||
| Common Stocks – 93.1% | Number of Shares | Market Value | Percentage of Assets |
| Communications – 4.2% | |||
| Internet Media | |||
| Google1 | 85,000 | $58,232,650 | 2.6% |
| Local Media | |||
| John Wiley & Sons | 100,000 | 4,934,000 | 0.2% |
| Telecom Carriers | |||
| America Movil ADR | 1,100,000 | 28,149,000 | 1.2% |
| Rogers Communications | 100,000 | 4,039,000 | 0.2% |
| 32,188,000 | 1.4% | ||
| 95,354,650 | 4.2% | ||
| Consumer Discretionary – 14.1% | |||
| Auto Parts | |||
| Gentex | 700,000 | 12,264,000 | 0.5% |
| Automotive Wholesale | |||
| Genuine Parts | 125,000 | 7,895,000 | 0.4% |
| Consumer Electronics & Appliance Stores | |||
| Best Buy | 700,000 | 12,418,000 | 0.6% |
| E – Commerce | |||
| Amazon.com1 | 240,000 | 59,584,800 | 2.6% |
| General Merchant Wholesalers | |||
| Fastenal | 800,000 | 34,472,000 | 1.5% |
| Home Product Stores | |||
| Bed Bath & Beyond1 | 250,000 | 16,792,500 | 0.8% |
| Lowe's | 900,000 | 25,632,000 | 1.1% |
| 42,424,500 | 1.9% | ||
| Other Specialty Retail | |||
| PetSmart | 700,000 | 49,644,000 | 2.2% |
| Staples | 600,000 | 6,552,000 | 0.3% |
| 56,196,000 | 2.5% | ||
| Passenger Transportation | |||
| LATAM Airlines ADR | 689,762 | 16,271,486 | 0.7% |
| Specialty Apparel Stores | |||
| TJX Companies | 1,200,000 | 54,948,000 | 2.4% |
| Urban Outfitters1 | 337,747 | 12,679,022 | 0.6% |
| 67,627,022 | 3.0% | ||
| Toys & Games | |||
| JAKKS Pacific | 187,000 | 3,111,680 | 0.1% |
| Mattel | 200,000 | 7,028,000 | 0.3% |
| 10,139,680 | 0.4% | ||
| 319,292,488 | 14.1% | ||
| Consumer Staples – 9.5% | |||
| Beverages | |||
| Monster Beverage1 | 850,000 | 50,099,000 | 2.2% |
| PepsiCo | 600,000 | 43,458,000 | 1.9% |
| 93,557,000 | 4.1% | ||
| Food Manufacturing | |||
| Danone ADR | 410,674 | 5,080,037 | 0.3% |
| Household Products Manufacturing | |||
| Church & Dwight | 800,000 | 43,792,000 | 1.9% |
| Clorox | 475,000 | 34,556,250 | 1.5% |
| Estee Lauder | 640,000 | 38,368,000 | 1.7% |
| 116,716,250 | 5.1% | ||
| 215,353,287 | 9.5% | ||
| Energy – 2.2% | |||
| Exploration & Production | |||
| EnCana | 400,000 | 8,880,000 | 0.4% |
| Integrated Oils | |||
| Cenovus | 600,000 | 19,620,000 | 0.8% |
| Suncor Energy | 700,000 | 21,896,000 | 1.0% |
| 41,516,000 | 1.8% | ||
| 50,396,000 | 2.2% | ||
| Healthcare – 15.8% | |||
| Biotech | |||
| Amgen | 650,000 | 54,548,000 | 2.4% |
| Celgene1 | 100,000 | 7,204,000 | 0.3% |
| 61,752,000 | 2.7% | ||
| Health Care Facilities | |||
| VCA Antech1 | 700,000 | 13,538,000 | 0.6% |
| Health Care Supply Chain | |||
| Express Scripts1 | 650,000 | 40,703,000 | 1.8% |
| Large Pharmaceuticals | |||
| Eli Lilly | 650,000 | 29,191,500 | 1.3% |
| Johnson & Johnson | 600,000 | 40,458,000 | 1.8% |
| Novartis ADR | 650,000 | 38,356,500 | 1.7% |
| Novo Nordisk ADR | 220,000 | 34,564,200 | 1.5% |
| 142,570,200 | 6.3% | ||
| Managed Care | |||
| Humana | 650,000 | 45,552,000 | 2.0% |
| Medical Equipment | |||
| Dentsply International | 700,000 | 25,389,000 | 1.1% |
| Orthopedic Devices | |||
| Stryker | 300,000 | 15,978,000 | 0.7% |
| Zimmer | 225,000 | 13,900,500 | 0.6% |
| 29,878,500 | 1.3% | ||
| 359,382,700 | 15.8% | ||
| Industrials – 11.2% | |||
| Building Sub-Contractors | |||
| EMCOR | 700,000 | 19,341,000 | 0.9% |
| Flow Control Equipment | |||
| Crane | 300,000 | 11,397,000 | 0.5% |
| Industrial Machinery Manufacturing | |||
| Regal – Beloit | 300,000 | 20,418,000 | 0.9% |
| Measurement Instruments | |||
| Agilent Technologies | 900,000 | 33,444,000 | 1.5% |
| Trimble Navigation1 | 850,000 | 41,675,500 | 1.8% |
| 75,119,500 | 3.3% | ||
| Metalworking Machinery Manufacturing | |||
| Lincoln Electric | 500,000 | 20,625,000 | 0.9% |
| Post & Courier Services | |||
| United Parcel Service | 500,000 | 36,905,000 | 1.6% |
| Rail Freight Transportation | |||
| Norfolk Southern | 500,000 | 36,230,000 | 1.6% |
| Union Pacific | 276,327 | 33,557,151 | 1.5% |
| 69,787,151 | 3.1% | ||
| 253,592,651 | 11.2% | ||
| Materials – 3.1% | |||
| Agricultural Chemicals | |||
| Potash Corp of Saskatchewan | 900,000 | $36,963,000 | 1.6% |
| Base Metals | |||
| Anglo American ADR | 1,400,000 | 19,390,000 | 0.8% |
| Precious Metal Mining | |||
| Barrick Gold | 400,000 | 15,408,000 | 0.7% |
| 71,761,000 | 3.1% | ||
| Technology – 33.0% | |||
| Application Software | |||
| Adobe Systems1 | 1,300,000 | 40,651,000 | 1.8% |
| Akamai Technologies1 | 1,000,000 | 37,510,000 | 1.7% |
| Intuit | 900,000 | 52,686,000 | 2.3% |
| SAP ADR | 600,000 | 39,396,000 | 1.7% |
| 170,243,000 | 7.5% | ||
| Communications Equipment | |||
| Apple | 200,000 | 133,048,000 | 5.9% |
| Cisco Systems | 2,000,000 | 38,160,000 | 1.7% |
| F5 Networks1 | 50,000 | 4,874,500 | 0.2% |
| Harris | 700,000 | 32,921,000 | 1.4% |
| 209,003,500 | 9.2% | ||
| Computer Hardware | |||
| Hewlett – Packard | 1,000,000 | 16,880,000 | 0.7% |
| Information Services | |||
| Gartner1 | 300,000 | 14,817,000 | 0.7% |
| Infrastructure Software | |||
| Oracle | 1,500,000 | 47,475,000 | 2.1% |
| IT Services | |||
| Convergys | 730,000 | 11,322,300 | 0.5% |
| Infosys ADR | 750,000 | 31,897,500 | 1.4% |
| International Business Machines | 250,000 | 48,712,500 | 2.1% |
| 91,932,300 | 4.0% | ||
| Printing & Imaging | |||
| Canon ADR | 600,000 | 19,974,000 | 0.9% |
| Semiconductor Capital Equipment | |||
| ASML | 600,000 | 34,062,000 | 1.5% |
| Semiconductor Devices | |||
| Intel | 1,700,000 | 42,211,000 | 1.8% |
| Qualcomm | 800,000 | 49,168,000 | 2.2% |
| SanDisk1 | 370,000 | 15,251,400 | 0.7% |
| Xilinx | 600,000 | 20,346,000 | 0.9% |
| 126,976,400 | 5.6% | ||
| Semiconductor Manufacturing Services | |||
| Taiwan Semiconductor ADR | 1,243,297 | 18,276,466 | 0.8% |
| 749,639,666 | 33.0% | ||
| Total investments | (Cost = $1,511,282,036) | 2,114,772,442 | 93.1% |
| Other assets (net of liabilities) | 156,993,207 | 6.9% | |
| Total net assets | $2,271,765,649 | 100.0% | |
| (1) Non-income producing security | |||
| ADS: American Depositary Share | |||
| ADR: American Depositary Receipt | |||
| Amana Mutual Funds Trust, Developing World Fund | ||||
| Common Stocks – 64.7% | Number of Shares | Market Value | Country1 | Percentage of Assets |
| Communications – 9.7% | ||||
| Internet Media | ||||
| Baidu.com ADR2 | 2,000 | $222,880 | China3 | 1.2% |
| Telecom Carriers | ||||
| America Movil ADR | 13,000 | 332,670 | Mexico | 1.7% |
| Millicom International | 2,500 | 215,092 | Global4 | 1.1% |
| MTN Group | 16,000 | 297,400 | South Africa | 1.6% |
| Telefonica Brasil ADR | 8,000 | 170,960 | Brazil | 0.9% |
| Telekomunikasi Indonesia ADR | 10,000 | 386,000 | Indonesia | 2.0% |
| Turk Telekomunikasyon | 60,000 | 237,504 | Turkey | 1.2% |
| 1,639,626 | 8.5% | |||
| 1,862,506 | 9.7% | |||
| Consumer Discretionary – 7.5% | ||||
| Apparel, Footwear, Accessary Design | ||||
| VF | 3,000 | 458,040 | Global4 | 2.4% |
| Automobile OEM | ||||
| Ford Otomotiv Sanayi | 30,000 | 294,446 | Turkey | 1.5% |
| E – Commerce | ||||
| MercadoLibre | 4,500 | 358,110 | Brazil3 | 1.9% |
| Passenger Transportation | ||||
| LATAM Airlines ADR | 14,000 | 330,260 | Chile | 1.7% |
| 1,440,856 | 7.5% | |||
| Consumer Staples – 8.9% | ||||
| Food Manufacturing | ||||
| DANONE ADR | 25,000 | 309,250 | France | 1.6% |
| IOI | 210,000 | 345,718 | Malaysia | 1.8% |
| M. Dias Branco | 10,000 | 311,838 | Brazil | 1.6% |
| 966,806 | 5.0% | |||
| Household Products Manufacturing | ||||
| Colgate-Palmolive | 3,200 | 340,192 | Global4 | 1.8% |
| Pharmacies & Drug Stores | ||||
| Clicks Group | 60,000 | 409,050 | South Africa | 2.1% |
| 1,716,048 | 8.9% | |||
| Energy – 5.2% | ||||
| Exploration & Production | ||||
| CNOOC ADR | 1,500 | 284,100 | China | 1.5% |
| Pacific Rubiales | 8,000 | 195,587 | Colombia3 | 1.0% |
| 479,687 | 2.5% | |||
| Integrated Oils | ||||
| China Petroleum & Chemical ADR | 800 | 75,400 | China | 0.4% |
| Petroleo Brasileiro ADR | 8,000 | 169,120 | Brazil | 0.9% |
| Sasol ADR | 6,500 | 281,580 | South Africa | 1.4% |
| 526,100 | 2.7% | |||
| 1,005,787 | 5.2% | |||
| Health Care – 13.3% | ||||
| Cardiovascular Devices | ||||
| Mindray Medical International ADR | 10,000 | 350,200 | China3 | 1.8% |
| Generic Pharmaceuticals | ||||
| Dr. Reddy's Laboratories ADR | 10,000 | 300,400 | India | 1.6% |
| Richter Gedeon | 1,000 | 170,477 | Hungary | 0.9% |
| 470,877 | 2.5% | |||
| Health Care Facilities | ||||
| Bangkok Dusit Medical Services | 100,000 | 330,147 | Thailand | 1.7% |
| KPJ Healthcare | 220,000 | 440,974 | Malaysia | 2.3% |
| 771,121 | 4.0% | |||
| Medical Equipment | ||||
| Aspen Pharmacare | 20,000 | 340,212 | South Africa | 1.8% |
| Specialty Pharmaceuticals | ||||
| Kalbe Farma | 700,000 | 284,784 | Indonesia | 1.5% |
| Mead Johnson Nutrition | 4,500 | 329,985 | Global4 | 1.7% |
| 614,769 | 3.2% | |||
| 2,547,179 | 13.3% | |||
| Industrials – 2.4% | ||||
| Infrastructure Construction | ||||
| Companhia de Concessoes Rodoviarias | 32,000 | 286,911 | Brazil | 1.5% |
| Jasa Marga (Persero) | 300,000 | 181,135 | Indonesia | 0.9% |
| 468,046 | 2.4% | |||
| Materials – 13.5% | ||||
| Agricultural Chemicals | ||||
| Quimica y Minera de Chile ADR | 6,000 | 369,840 | Chile | 1.9% |
| Base Metals | ||||
| Anglo American ADR | 15,000 | 207,750 | South Africa3 | 1.1% |
| Freeport-McMoRan Copper & Gold | 4,000 | 144,440 | Indonesia3 | 0.8% |
| Southern Copper | 10,042 | 326,767 | Peru3 | 1.7% |
| 678,957 | 3.6% | |||
| Cement & Aggregates | ||||
| PT Semen Gresik | 200,000 | 260,577 | Indonesia | 1.4% |
| Precious Metal Mining | ||||
| Alamos Gold | 17,500 | 328,963 | Mexico3 | 1.7% |
| Gold Fields ADR | 16,000 | 197,120 | South Africa | 1.0% |
| Impala Platinum ADR | 16,000 | 252,000 | South Africa | 1.3% |
| 778,083 | 4.0% | |||
| Raw Material Suppliers | ||||
| Vale ADR | 12,500 | 204,625 | Brazil | 1.1% |
| Steel Producers | ||||
| Tenaris ADR | 7,000 | 291,970 | Argentina3 | 1.5% |
| 2,584,052 | 13.5% | |||
| Technology – 2.9% | ||||
| Application Software | ||||
| AutoNavi Holdings ADR | 10,000 | 124,600 | China | 0.6% |
| Electronics Components | ||||
| Nidec ADR | 4,692 | 93,371 | Japan | 0.5% |
| IT Services | ||||
| Infosys ADR | 8,000 | 340,240 | India | 1.8% |
| 558,211 | 2.9% | |||
| Utilities – 1.3% | ||||
| Power Generation | ||||
| Companhia Paranaense de Energia – Copel ADR | 5,000 | 88,949 | Brazil | 0.5% |
| Utility Networks | ||||
| Enersis ADR | 10,000 | 164,700 | Chile | 0.8% |
| 253,649 | 1.3% | |||
| Total investments | (Cost = $11,999,364 ) | 12,436,334 | 64.7% | |
| Other assets (net of liabilities) | 6,790,742 | 35.3% | ||
| Total assets | $19,227,076 | 100.0% | ||
| (1) Country of domicile unless otherwise indicated | ||||
| (2) Non-Income producing security | ||||
| (3) Denotes a country or region of primary exposure | ||||
| (4) Denotes a worldwide presence, comprising an entity with exposure to many regions and countries | ||||
| ADR: American Depositary Receipt | ||||
| ADS: American Depositary Share | ||||
Security valuation:
Investments in securities traded on a national securities exchange and over-the-counter securities for which sale prices are available are valued at that price. Securities for which there are no sales are valued at latest bid price.
Foreign markets may close before the time as of which the Funds' share prices are determined. Because of this, events occurring after the close and before the determination of the Funds' share prices may have a material effect on the values of some or all of the Funds' foreign securities. To account for this, the Funds may use outside pricing services for valuation of their non-U.S. securities.
In the case which there is not a readily available market price, a fair value for such security is determined in good faith by or under the direction of the Board of Trustees.
Security transactions are recorded on trade date. Realized gains and losses on sales of securities are recorded on the identified cost basis.
Fair Value Measurements Disclosure:
The Funds have adopted authoritative fair valuation accounting standards, which establish an authoritative definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value and a discussion in changes in valuation techniques and related inputs during the period. These inputs are summarized in the three broad levels listed below.
Level 1 : Unadjusted quoted prices in active markets for identical assets or liabilities that the Trust has the ability to access.
Level 2 : Observable inputs other than quoted prices in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates, and similar data.
Level 3 : Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Trust's own assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available.
The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, whether the security is new and not yet established in the market place, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3.
The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement falls in its entirety, is determined based on the lowest level input that is significant to the fair value measurement in its entirety.
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.
The following is a summary of the inputs used as of August 31, 2012 in valuing the Funds' investments carried at value:
| Funds | Total | Level 1 Quoted Price | Level 2 Significant Observable Input | Level 3 Significant Unobservable Input |
| Income Fund | ||||
| Common Stocks | $1,216,236,164 | $1,216,236,164 | $ – | $ – |
| Sukuk | $5,321,230 | $ – | $5,321,230 | $ – | Total Assets | $1,221,557,394 | $1,216,236,164 | $5,321,230 | $ – |
| Growth Fund | ||||
| Common Stocks | $2,114,772,442 | $2,114,772,442 | $ – | $ – |
| Total Assets | $2,114,772,442 | $2,114,772,442 | $ – | $ – |
| Developing World Fund | ||||
| Common Stocks | $12,436,334 | $7,505,519 | $4,930,815 | $ – |
| Total Assets | $12,436,334 | $7,505,519 | $4,930,815 | $ – |
(1) During the period ended August 31, 2012, no Fund had transfers between Level 1 and Level 2.
Federal Income Taxes: The cost basis of investments for federal income tax purposes at August 31, 2012 was as follows:
| Income Fund | Growth Fund | Developing World Fund | |
| Cost of investments | $962,170,453 | $1,511,282,036 | $11,999,364 |
| Gross unrealized appreciation | 286,018,016 | 709,774,815 | 1,428,839 |
| Gross unrealized depreciation | 26,631,075 | 106,284,409 | 991,869 |
| Net unrealized appreciation | $259,386,941 | $603,490,406 | $436,970 |
Other:
For more information please see the Funds' most recent prospectus, summary prospectus, and annual report on the Funds' website at www.amanafunds.com.
Investments are not FDIC-insured, nor are they deposits of or guaranteed by a bank or any other entity, so they may lose value. Before investing in any Saturna Investment Trust Fund, you should carefully consider the Fund's investment objectives, risks, and management fees and other expenses. To obtain a Fund's prospectus and summary prospectus, which contain this and other important information, visit www.amanafunds.com or call 888-732-6262. Please read the prospectus and summary prospectus carefully before investing.
Item 2. Controls and Procedures
(a) An evaluation was performed within 90 days of the filing of this report, under the supervisoin of and with the participation of the registrant's management, including the principal executive officer and the principal financial officer, of the effectiveness of the design and operation of the registrant's disclosure controls and procedures. Based on that evaluation, the principal executive officer and principal financial officer concluded that the registant's disclosure controls and procedures were effective.
(b) The registant's principal executive officer and principal financial officer are aware of no changes in the registrant's internal control over financial reporting that occured during the registant's last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registant's internal control over financial reporting.
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.
AMANA MUTUAL FUNDS TRUST
By:
/s/ Nicholas Kaiser
Nicholas Kaiser, President
Date: October 25, 2012
Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company 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: October 25, 2012
By:
/s/ Christopher Fankhauser
Christopher Fankhauser, Treasurer
Date: October 25, 2012
The Amana Funds limit the securities they purchase to those consistent with Islamic principles. This limits opportunity and may increase risk. Please consider an investment's objectives, risks, charges and expenses carefully before investing. To obtain this and other important information about the Amana Funds in a current prospectus, please visit each individual Fund's page by following the links above, visit Fund Literature or call toll free 1-888/73-AMANA. Please read the prospectus carefully before investing.
Amana Income Fund, Amana Growth Fund, and Amana Developing World Fund are offered only by prospectus. Nothing on this website should be considered a solicitation to buy, an offer to sell, or a recommendation for any security in any jurisdiction where such offer, solicitation, or recommendation would be unlawful. Terms & Conditions of Use, Privacy Statement, Code of Ethics, Business Continuity Plan and Investor's Bill of Rights © 2001 - Saturna Capital Corporation. Distributor: Saturna Brokerage Services, Member FINRA / SIPC.
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