Saturna Capital's Portfolio Moves
Saturna Capital Actively Adjusts Q1 Portfolio, Trims Stakes While Adding New Healthcare Position
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Key Points
1
J. Stern & Co. LLP dramatically boosted its Amphenol stake in the 4th quarter, purchasing 75,964,718 additional shares for a total holding of 76,769,791 shares valued at about $10.37 billion.
2
GE HealthCare Technologies: Director Watkin Phoebe L. Yang purchased 1,000 shares on May 8 at an average price of $63.01, bringing her total to 13,702 shares worth approximately $863,363.
3
TJX Companies makes up about 2.7% of Saturna Capital Corp’s portfolio and is the fund’s 10th largest holding.
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Johnson Controls International comprises about 4.8% of Saturna Capital Corp’s portfolio and is its 9th largest holding.
Saturna Capital Corp made a series of portfolio moves in the first quarter, trimming several major positions while opening at least one new one. The Bellingham, Washington-based investment firm cut its Amphenol stake by 9.5%, sold down Johnson Controls by 1%, and slashed its Genuine Parts position by 60.4%, according to Ticker Report and Watchlist News.
At the same time, Saturna added a brand-new position in GE HealthCare Technologies, buying 8,655 shares worth about $616,000. The moves show a firm actively reshaping its book across healthcare, electronics, and retail.
Amphenol and Adobe Positions Cut Sharply
Saturna sold 3,362 shares of Amphenol in Q1, leaving it with 32,153 shares worth about $4.06 million, according to Watchlist News. That 9.5% reduction stands out given the broader appetite for the electronics maker. J. Stern & Co. LLP moved in the opposite direction, buying 75,964,718 additional Amphenol shares in the fourth quarter for a total stake of 76,769,791 shares valued at roughly $10.37 billion.
The Adobe cut was even more dramatic. Saturna slashed its Adobe holdings by 94.2% in Q1, leaving just 9,533 shares, according to Ticker Report. The firm also cut its Chubb stake by 63.1%, down to just 1,170 shares of the financial services provider.
Johnson Controls and TJX Remain Top-10 Holdings
Despite trimming, Saturna's two largest retail and industrial positions held their ground. Johnson Controls International fell just 1% to 2,604,438 shares, still valued at about $341.05 million. That makes it the fund's 9th largest holding, equal to roughly 4.8% of the total portfolio.
TJX Companies slipped 0.7% to 1,220,155 shares, worth about $194.86 million. TJX is the fund's 10th largest holding and makes up about 2.7% of Saturna's portfolio. Both positions show the firm is willing to trim at the edges but keeps its biggest bets largely intact.
New GE HealthCare Bet and a Ross Stores Boost
Saturna opened a fresh position in GE HealthCare Technologies, picking up 8,655 shares for about $616,000, according to Watchlist News. The move comes as insider activity in the stock picks up. Director Phoebe L. Yang bought 1,000 shares on May 8 at an average price of $63.01, bringing her total to 13,702 shares worth roughly $863,363.
Saturna also lifted its Ross Stores position by 31.1%, adding shares to bring the total to 11,056 worth about $2.40 million. That jump is the sharpest percentage increase among the firm's disclosed moves this quarter and signals growing confidence in off-price retail.
Genuine Parts Stake Drops 60% Amid Broader Rebalancing
One of the biggest cuts came in Genuine Parts Company. Saturna trimmed that position by 60.4% in Q1, though it still holds a $16.07 million stake in the auto parts distributor, according to Ticker Report. The size of the cut suggests a deliberate shift away from the sector rather than a small adjustment.
Taken together, Saturna's Q1 filings paint a picture of a firm in active rebalancing mode. It is cutting deep in some areas — software, auto parts, insurance — while building up in off-price retail and healthcare. The overall direction leans toward defensive, consumer-focused names.
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