Form 24F-2
Annual Notice of Securities Sold
Pursuant to Rule 24f-2
1) Name and Address of Issuer:
Saturna Investment Trust
1300 North State Street
Bellingham, WA 98225
2) Name of each series or class of funds for which this notice
is filed:
Sextant Growth Fund
Idaho Tax Exempt Fund
Sextant Bond Income Fund
Sextant Short Term Bond Fund
Sextant International Fund
3) Investment Company Act File Number : 811-5071
Securities Act File Number: 33-13247
4) Last day of fiscal year for which this notice is filed:
November 30, 1995
5) Check box if this notice is being filed more than 180 days
after the close of the issuer fiscal year for purposes of
reporting securities sold after the close of the fiscal year
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but before termination of the issuer's 24f-2 declaration:
[ ]
6) Date of termination of issuer's declaration under
Rule 24f-2(a)(1), if applicable (see Instruction A.6): NOT
APPLICABLE
7) Number and amount of securities of the same class or series
which had been registered under the Securities Act of 1933
other than pursuant to Rule 24f-2 in a prior fiscal year,
but which remained unsold at the beginning of the fiscal
year: NONE
8) Number and amount of securities registered during the fiscal
year other than those pursuant to Rule 24f-2: NONE
<TABLE>
<CAPTION>
Dollars Shares
<S> <C> <C>
9) Number and aggregate sale price of
securities sold during fiscal year
1995 $2,944,679.00 678,056
Sextant Growth Fund 306,751.00 43,111
Idaho Tax Exempt Fund 793,990.00 225,327
Sextant Bond Income Fund 623,415.00 165,574
Sextant Short Term Bond Fund 892,239.00 178,249
Sextant International Fund 328,284.00 65,795
Dollars Shares
10) Number and aggregate sale price of
securities dividends reinvested $ 312,310.00 60,016
Sextant Growth Fund 28,060.00 3,782
Idaho Tax Exempt Fund 226,992.00 44,240
Sextant Bond Income Fund 52,937.00 11,132
Sextant Short Term Bond Fund 4,321.00 862
Sextant International Fund 0.00 0
11) Number and aggregate sale price of
securities sold and reinvested $3,256,989.00 738,072
Sextant Growth Fund 334,811.00 46,893
Idaho Tax Exempt Fund 1,020,982.00 269,567
Sextant Bond Income Fund 676,352.00 176,706
Sextant Short Term Bond Fund 896,560.00 179,111
Sextant International Fund 328,284.00 65,795
12) Number and aggregate sale price of
securities redeemed $4,987,699.00 1,075,020
Sextant Growth Fund 444,025.00 67,343
Idaho Tax Exempt Fund 3,329,049.00 717,954
Sextant Bond Income Fund 1,192,060.00 285,218
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Sextant Short Term Bond Fund 22,565.00 4,505
Sextant International Fund 0.00 0
</TABLE>
13) Calculation of Registration Fee:
i) Aggregate sale price of securities sold
during the fiscal year in reliance on
Rule 24f-2 (from item 11) $2,944,679
ii) Aggregate price of shares issued in
connection with dividend reinvestment
plans (from item 10) $ 312,310
iii) Aggregate price of shares redeemed or
repurchased during the fiscal year (if
applicable) ($4,987,699)
iv) Net aggregate price of securities sold
during the fiscal year in reliance upon
registration pursuant to Section 24f-2
($1,730,710)
v) Fee calculation (1/29 of 1% of Net
Aggregate securities sold) ($596.75)
vi) Fee Payable $0.00
/s/ Teresa K. Anderson
Teresa K. Anderson, CMA
Assistant Controller
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[Barnes & Thornburg Letterhead]
January 23, 1996
Saturna Investment Trust
1300 North State Street
Bellingham, Washington 98225-4730
Re: Rule 24f-2 Notice Filing
Gentlemen:
In connection with the registration of an indefinite number
of units (the "Units") registered by Saturna Investment Trust
(the "Trust") with respect to the following series:
Sextant Growth Fund
Sextant bond Income Fund
Sextant Short Term Bond Fund
Sextant International Fund
Idaho Tax Exempt Fund
(the "Series"), we have been asked to provide the opinion of
counsel required pursuant to Rule 24f-2(b)(1)(v), to accompany
the notice (the "Notice") required to be filed by the Trust
pursuant to Rule 24f-2, promulgated pursuant to Section 24(f) of
the Investment Company Act of 1940, as amended. In rendering
this opinion, we have examined such documents (including the
audited financial statements of the Trust's Series as of
November 30, 1995), records and questions of law as we deemed it
necessary to examine for the purpose of this opinion.
Based on that examination and investigation, it is our
opinion that the Units of each Series which are the subject of
the Notice have been validly issued, fully paid and are not
liable to further assessment.
Very truly yours,
/s/ Barnes & Thornburg
