Sextant International Fund (SSIFX): Portfolio Holdings

Top Ten Portfolio Holdings

As of 12/31/2011	Percent of Fund Assets
Copa Holdings, Class A	2.2%
Teck Resources	2.2%
Novartis ADR	2.1%
Shire ADR	2.1%
ASML Holding	1.9%
LAN Airlines ADS	1.9%
Toronto-Dominion Bank	1.9%
Novo Nordisk ADS	1.8%
Anglo American ADR	1.7%
Barrick Gold	1.7%
Total	19.5%

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Sector Allocation

Sextant International Fund: Sector Allocation

Sector weightings are shown as a percentage of Fund assets.

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