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Amana Mutual Funds Trust – ‘NPORT-EX’ for 8/31/19

On:  Wednesday, 10/30/19, at 5:20pm ET   ·   For:  8/31/19   ·   Accession #:  1193125-19-279174   ·   File #:  811-04276

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

10/30/19  Amana Mutual Funds Trust          NPORT-EX    8/31/19    1:327K                                   Donnelley … Solutions/FA
          → Amana Developing World Fund ⇒ Amana Developing World Fund Institutional Shares (AMIDX) — Amana Developing World Fund Investor Shares (AMDWX)
          → Amana Growth Fund ⇒ Amana Growth Fund Institutional Shares (AMIGX) — Amana Growth Fund Investor Shares (AMAGX)
          → Amana Income Fund ⇒ Amana Income Fund Institutional Shares (AMINX) — Amana Income Fund Investor Shares (AMANX)
          → Amana Participation Fund ⇒ Amana Participation Fund Institutional Shares (AMIPX) — Amana Participation Fund Investor Shares (AMAPX)

Document/Exhibit                   Description                      Pages   Size 

 1: NPORT-EX    Portfolio Holdings Schedule -- Form N-PORT          HTML    218K 

Amana Mutual Funds Trust Form F August 31, 2019

Notes to Schedule of Investments (unaudited)

Amana Mutual Funds Trust (the “Trust”) was organized as a Delaware Statutory Trust on March 11, 2013, and is the successor to Amana Mutual Funds Trust, an Indiana Business Trust organized on July 26, 1984, pursuant to a reorganization on July 19, 2013.

Under procedures approved by the Trust’s Board of Directors, Saturna Capital, the Trust’s investment adviser and administrator, has formed a Pricing Committee to administer the pricing and valuation of portfolio securities, including valuation of securities for which market quotations are not readily available.

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 the Funds’ foreign securities. To account for this, the Funds may use outside pricing services for valuation of their non-US securities.

In cases in 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.

Sukuk certificates in which the Participation Fund invests are valued based on evaluated prices supplied by an independent pricing service, which include valuations provided by market makers and other participants, provided that there is sufficient market activity on which the pricing service can base such valuations. Where market activity is insufficient for making such determinations, the independent pricing service uses proprietary valuation methodologies and may consider a variety of factors, such as yield curves, credit spreads, estimated default rates, anticipated market interest rate volatility, coupon rates, and other factors in order to calculate the security’s fair value.

Accounting Standards Codification (ASC) 820 establishes a three-tier framework for measuring fair value based on a hierarchy of inputs. The hierarchy distinguishes between market data obtained from independent sources (observable inputs) and the Funds’ own market assumptions (unobservable inputs). These inputs are used in determining the value of the Funds’ investments and are summarized 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,

Amana Mutual Funds Trust Form F August 31, 2019

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 marketplace, 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, 2019, in valuing the Funds’ investments carried at value:

During the year ended “August 31, 2019”, no Fund had transfers between Level 1, Level 2, and Level 3.

(1) See the Schedule of Investments for additional details

The Funds have adopted the financial accounting reporting rules required by the Derivatives and Hedging Topic of the FASB Accounting Standards Codification. The Funds are required to include enhanced disclosure that enables investors to understand how and why an entity uses derivatives, how derivatives are accounted for, and how derivative instruments affect an entity’s results of operations and financial position.

During a previous fiscal period ended, the Funds held positions in rights offerings as a result of actions taken by the board of directors of the underlying companies. Rights offerings are issued to existing shareowners of companies and allow shareowners to purchase additional company shares, generally at a discount to the current market price, prior to a set expiration date. As a result of exercising certain rights offerings, the Funds received warrants. Holders of warrants have the right to purchase additional securities directly from the issuer at a set exercise price, prior to a stated expiration date.

The effects of these derivative instruments on the Fund’s financial position and financial performance as reflected in the Statement of Assets and Liabilities and Statement of Operations are presented in the tables below. The fair values of derivative instruments as of August 31, 2019, by risk category are as follows:

The cost basis of investments for federal income tax purposes at August 31, 2019, were as follows:

Amana Mutual Funds Trust Form F August 31, 2019

In preparing these financial statements, the Funds have evaluated events and transactions for potential recognition or disclosure through the date the financial statements were issued. There were no events or transactions during the period that materially impacted the amounts or disclosures in the Funds’ financial statements.

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Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘NPORT-EX’ Filing		Date		Other Filings
Filed on:		10/30/19
For Period end:		8/31/19
		7/19/13		485BPOS,  497K,  N-8A/A,  N-CSR
		3/11/13
				List all Filings

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Filing Submission 0001193125-19-279174   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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