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Form N-PX · fund registrantSEC filer no. 811860

SATURNA INVESTMENT TRUST

fund voting report

Vote records reported
2,382year to 30 June 2026
Against management
12.3%271 of 2,207 marked votes
Say-on-pay support
71.8%for, of for + against + abstain
Shareholder-proposal support
64.8%for, of for + against + abstain
89.4% for9.3% against1.3% other12.3% against management2,247 votes

foragainstabstain, withhold or otheramber tick: the portion cast against management

SATURNA INVESTMENT TRUST reported 2,382 vote records for the year to 30 June 2026. It marked 12.3% of its votes as cast against management (271 of 2,207), 6.1 percentage points above the median fund registrant, which was 6.2%.

Weighted by the number of shares voted, the against-management share is 13.1%. The two figures differ when the votes against management fall on larger or smaller holdings than the rest.

On pay and on shareholder proposals: it voted for 71.8% of the section 14A say-on-pay items it reported (the median fund registrant: 91.6%) and it voted for 64.8% of the proposals put forward by security holders (the median fund registrant: 27.5%).

By category, votes against management were most frequent in HUMAN RIGHTS OR HUMAN CAPITAL/WORKFORCE (61.5% of 26), ENVIRONMENT OR CLIMATE (59.3% of 27) and OTHER SOCIAL ISSUES (46.8% of 62).

Compared with other filers

Each rate is defined once, in the methodology. The median is taken over 1,241 fund registrants with at least 25 vote records in the season.

year to 30 June 2026This filerMedian fund registrantAll filers pooled
Against-management share12.3%6.2%10.6%
Say-on-pay support rate71.8%91.6%86.0%
Shareholder-proposal support rate64.8%27.5%33.9%
Shares on loan, share of shares held0.00%0.00%3.12%
Largest families, year to 30 June 2026Against managementSay-on-pay supportShareholder-proposal support
Vanguard20.1%94.1%42.0%
BlackRock and iShares7.5%88.3%11.9%
Fidelity6.0%94.7%27.6%
Dimensional16.4%78.9%57.4%
State Street and SPDR16.9%77.1%50.4%

Of the 2,382 vote records in this filing, 135 carry something the form does not expect: a missing vote source or category, a record with no vote line, a meeting date that cannot be read, or a security identifier this site could not use. They are counted as filed. What is checked

Votes by category

Filers choose one or more categories for each vote, so a vote can appear in more than one row. Category names are printed as Form N-PX defines them.

Category (as the form names it)VotesForAgainstAgainst managementSplit
DIRECTOR ELECTIONS1,2381,1211029.7%
SECTION 14A SAY-ON-PAY VOTES140953727.5%
AUDIT-RELATED16916633.0%
SHAREHOLDER RIGHTS AND DEFENSES75242.9%
EXTRAORDINARY TRANSACTIONS86225.0%
CAPITAL STRUCTURE20420042.0%
COMPENSATION112991214.4%
CORPORATE GOVERNANCE2572391413.7%
ENVIRONMENT OR CLIMATE28171159.3%
HUMAN RIGHTS OR HUMAN CAPITAL/WORKFORCE27171061.5%
DIVERSITY, EQUITY, AND INCLUSION84450.0%
OTHER SOCIAL ISSUES62441846.8%
OTHER7974410.7%

By season

SeasonVote recordsAgainst managementSay-on-pay supportShareholder-proposal supportSplit
year to 30 June 20243,13212.9%66.9%45.9%
year to 30 June 20252,90214.3%64.7%60.8%
year to 30 June 20262,38212.3%71.8%64.8%

Say-on-pay votes against management

Counting one say-on-pay item per company meeting, SATURNA INVESTMENT TRUST voted against management on 21 of the 80 it marked either way (26.3%) in the year to 30 June 2026.

A further 2 say-on-pay items were reported without a management mark and are left out of both sides of that fraction.

Shareholder proposals it supported

Of 80 proposals from security holders that could be told apart in the filings and on which it cast a vote, SATURNA INVESTMENT TRUST voted for 54 (67.5%). The 40 at the companies with the most reporting filers are listed. Titles are the most common wording among filers; where a wording could name a person, the SEC category is printed instead.

CompanyMeetingProposal
Microsoft Corporation5 Dec 2025Report on Human Rights Due Diligence
Microsoft Corporation5 Dec 2025Report on Al Data Usage Oversight
Microsoft Corporation5 Dec 2025Report on Data Operations in Human Rights Hotspots
Amazon.com, Inc.20 May 2026Shareholder proposal requesting a mandatory independent board chair policy
Amazon.com, Inc.20 May 2026Shareholder proposal requesting additional reporting on impact of data centers on climate commitments
Alphabet Inc.5 Jun 2026Shareholder proposal regarding a report on AI data usage oversight
Alphabet Inc.5 Jun 2026Shareholder proposal regarding a report on AI-generated misinformation
Alphabet Inc.5 Jun 2026Shareholder proposal regarding a report on data privacy
Alphabet Inc.5 Jun 2026Shareholder proposal regarding a report on water usage and AI development
Alphabet Inc.5 Jun 2026Shareholder proposal regarding AI Board oversight
Alphabet Inc.5 Jun 2026Shareholder proposal regarding a report on impact of U.S. immigration policy
Alphabet Inc.5 Jun 2026Shareholder proposal regarding equal shareholder voting
Alphabet Inc.5 Jun 2026Shareholder proposal regarding an enhanced disclosure on climate goals
Apple Inc.24 Feb 2026A shareholder proposal entitled "China Entanglement Audit"
JPMorgan Chase & Co.19 May 2026Independent board chairman
JPMorgan Chase & Co.19 May 2026Lobbying alignment
JPMorgan Chase & Co.19 May 2026Report on congruence of security, resiliency, and climate initiatives
JPMorgan Chase & Co.19 May 2026Sustainability ROI report
Mastercard Incorporated16 Jun 2026Consideration of a stockholder proposal regarding shareholder right to act by written consent
Eli Lilly and Company4 May 2026Shareholder proposal to adopt a policy and amend the bylaws to require an independent board chair.
AbbVie Inc.8 May 2026Stockholder Proposal - to Adopt a Policy to Require an Independent Chair
The Procter & Gamble Company14 Oct 2025Shareholder Proposal Requesting Additional Reporting on Plastic Packaging
NextEra Energy, Inc.21 May 2026Report on Plans to Reduce and Align GHG Emissions with Paris Agreement Goals
ServiceNow, Inc.21 May 2026Shareholder proposal regarding shareholder right to act by written consent.
ConocoPhillips12 May 2026Stockholder Proposal - Independent Board Chairman.
Adobe Inc.15 Apr 2026Stockholder Proposal Regarding Vote on Golden Parachutes.
Adobe Inc.15 Apr 2026Environment or climate
Adobe Inc.15 Apr 2026Stockholder Proposal Regarding Board Matrix.
Lowe's Companies, Inc.29 May 2026Shareholder Proposal requesting an independent board chairman.
Lowe's Companies, Inc.29 May 2026Shareholder Proposal requesting a report on risks of sharing customer data with third parties.
Lowe's Companies, Inc.29 May 2026Shareholder Proposal requesting a report describing how the Company could disclose its plastic packaging...
Micron Technology, Inc.15 Jan 2026Reduce Ownership Threshold for Shareholders to Call Special Meeting
Boston Scientific Corporation30 Apr 2026Stockholder proposal titled "Give Shareholders the Ability to Call for a Special Shareholder Meeting."
Meta Platforms, Inc.27 May 2026A shareholder proposal regarding annual vote regarding executive pay.
Meta Platforms, Inc.27 May 2026A shareholder proposal regarding report on risks of anti-American discrimination from H-1B visa program use.
Meta Platforms, Inc.27 May 2026Shareholder Proposal Regarding Data Protection Impact Assessment
Meta Platforms, Inc.27 May 2026Shareholder proposal: OTHER SOCIAL ISSUES
Meta Platforms, Inc.27 May 2026A shareholder proposal regarding disclosure of voting results by share class.
Meta Platforms, Inc.27 May 2026A shareholder proposal regarding report on climate change-related commitments.
Meta Platforms, Inc.27 May 2026A shareholder proposal regarding report on human rights due diligence.

Shares on loan

SATURNA INVESTMENT TRUST reported no shares on loan for the year to 30 June 2026. Shares lent out at the record date cannot be voted by the lender, which is why Form N-PX asks for the figure. More on lending and votes.

Fund series in this filing

6 series reported votes. A vote record can list several series. Series with 500 or more vote records have their own page.

SeriesVote recordsAgainst managementSay-on-pay supportShareholder-proposal support
Saturna Core Fund83312.8%69.2%61.1%
Saturna International Fund6175.7%89.7%not reported
Saturna Growth Fund41021.7%51.9%68.1%
Saturna Sustainable Equity Fund22513.7%66.7%62.5%
Saturna Global High Income Fund1660.0%100.0%not reported
Saturna Bond Income Fund13117.1%83.3%not reported

The filings

These figures are read from the filer's own Form N-PX. If a vote on this page looks wrong, the filing is the record: a dispute about a filed vote is a matter for the filer, and an error in how this site read the filing is a matter for corrections.

Questions

How did SATURNA INVESTMENT TRUST vote on executive pay?

In the year to 30 June 2026 SATURNA INVESTMENT TRUST reported 131 votes in the category SECTION 14A SAY-ON-PAY VOTES that were cast for, against or abstain. 94 were for (71.8%), 37 against and 0 abstentions. Counting one item per company meeting, it voted against management on 21 of the 80 say-on-pay items it marked either way. A further 2 say-on-pay items were reported without a management mark and are not counted in that figure.

How often does SATURNA INVESTMENT TRUST vote against management?

12.3% of the time in the year to 30 June 2026: 271 of the 2,207 votes it marked as for or against management. Form N-PX asks each filer to state, vote by vote, whether the vote was for or against management's recommendation; this figure counts those marks.

Did SATURNA INVESTMENT TRUST support shareholder proposals on climate?

In the category ENVIRONMENT OR CLIMATE it reported 27 votes on proposals from security holders in the year to 30 June 2026 and voted for 16 of them (59.3%). Across every category it voted for 64.8% of security-holder proposals. Filers choose the category for each vote, so the same proposal can sit in different categories in different filings.

Is this the result of the meetings?

No. Form N-PX shows how this filer voted the shares it held. It does not show how other shareholders voted or whether a proposal was approved. Companies report certified results separately, on Form 8-K.

Where does the data come from?

From the Form N-PX filings of this filer on the SEC's EDGAR system, read as filed. The SEC does not verify the contents. Amended filings (N-PX/A) replace the filings they amend. Data on this page runs through 23 Sep 2026.

Provenance: SEC EDGAR, Form N-PX and N-PX/A filings by SATURNA INVESTMENT TRUST (filer no. 811860), read as filed and not verified by the SEC. Amended filings replace the filings they amend. Filings read through 23 Sep 2026; page built 26 Sep 2026.