UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
Certified Shareholder Report of
Registered Management Investment Companies
Investment Company Act File Number: 811-02444
The Bond Fund of America
(Exact Name of Registrant as Specified in Charter)
333 South Hope Street
Los Angeles, California 90071
(Address of Principal Executive Offices)
Registrant's telephone number, including area code: (949) 975-5000
Date of fiscal year end: December 31
Date of reporting period: June 30, 2020
Brian C. Janssen
The Bond Fund of America
6455 Irvine Center Drive
Irvine, California 92618
(Name and Address of Agent for Service)
ITEM 1 – Reports to Stockholders
The Bond Fund of America® Semi-annual report for the six months ended June 30, 2020 | ![](https://capedge.com/proxy/N-CSRS/0000051931-20-000748/image_001.jpg) |
![](https://capedge.com/proxy/N-CSRS/0000051931-20-000748/image_002.jpg)
Invest with a stable,
long-term approach
Beginning January 1, 2021, as permitted by regulations adopted by the U.S. Securities and Exchange Commission, we intend to no longer mail paper copies of the fund’s shareholder reports, unless specifically requested from American Funds or your financial intermediary, such as a broker-dealer or bank. Instead, the reports will be made available on the Capital Group website (capitalgroup.com); you will be notified by mail and provided with a website link to access the report each time a report is posted. If you have already elected to receive shareholder reports electronically, you will not be affected by this change and do not need to take any action. If you prefer to receive shareholder reports and other communications electronically, you may update your mailing preferences with your financial intermediary, or enroll in e-delivery at capitalgroup.com (for accounts held directly with the fund).
You may elect to receive paper copies of all future reports free of charge. If you invest through a financial intermediary, you may contact your financial intermediary to request that you continue to receive paper copies of your shareholder reports. If you invest directly with the fund, you may inform American Funds that you wish to continue receiving paper copies of your shareholder reports by contacting us at (800) 421-4225. Your election to receive paper reports will apply to all funds held with American Funds or through your financial intermediary.
The Bond Fund of America seeks as high a level of current income as is consistent with the preservation of capital.
This fund is one of more than 40 offered by Capital Group, home of American Funds, one of the nation’s largest mutual fund families. For nearly 90 years, Capital has invested with a long-term focus based on thorough research and attention to risk.
Fund results shown in this report, unless otherwise indicated, are for Class A shares at net asset value. If a sales charge (maximum 3.75%) had been deducted, the results would have been lower. Results are for past periods and are not predictive of results for future periods. Current and future results may be lower or higher than those shown. Prices and returns will vary, so investors may lose money. Investing for short periods makes losses more likely. For current information and month-end results, visit capitalgroup.com.
Here are the average annual total returns on a $1,000 investment with all distributions reinvested for periods ended June 30, 2020 (the most recent calendar quarter-end):
Class A shares | | 1 year | | 5 years | | 10 years |
| | | | | | |
Reflecting 3.75% maximum sales charge | | 6.02% | | 3.61% | | 3.56% |
For other share class results, visit capitalgroup.com and americanfundsretirement.com.
The total annual fund operating expense ratio was 0.61% for Class A shares as of the prospectus dated March 1, 2020. The expense ratio is restated to reflect current fees.
Investment results assume all distributions are reinvested and reflect applicable fees and expenses. When applicable, investment results reflect fee waivers, without which results would have been lower. Visit capitalgroup.com for more information.
The return of principal for bond funds and for funds with significant underlying bond holdings is not guaranteed. Fund shares are subject to the same interest rate, inflation and credit risks associated with the underlying bond holdings. High-yield bonds are subject to greater fluctuations in value and risk of loss of income and principal than investment-grade bonds. Investing in bonds issued outside the U.S. may be subject to additional risks. They include currency fluctuations, political and social instability, differing securities regulations and accounting standards, higher transaction costs, possible changes in taxation, illiquidity and price volatility. These risks may be heightened in connection with investments in developing countries. Refer to the fund prospectus and the Risk Factors section of this report for more information on these and other risks associated with investing in the fund.
Investments are not FDIC-insured, nor are they deposits of or guaranteed by a bank or any other entity, so they may lose value.
Fellow investors:
Shown in the table below is The Bond Fund of America’s semi-annual result for the period ended June 30, 2020. Also shown are the results of its primary benchmark and peer group.
For additional information about the fund, its investment results, holdings and portfolio managers, visit capitalgroup.com/individual/investments/fund/ABNDX. You can also access information about Capital Group’s American Funds and read our insights about the markets, retirement, saving for college, investing fundamentals and more at capitalgroup.com.
Results at a glance
For periods ended June 30, 2020, with all distributions reinvested
| | Cumulative total returns | | Average annual total returns |
| | 6 months | | 1 year | | 3 years | | 5 years | | 10 years | | Lifetime (since 5/28/74) |
| | | | | | | | | | | | | | | | | | | | | | | | |
The Bond Fund of America (Class A shares) | | | 8.05 | % | | | 10.13 | % | | | 5.49 | % | | | 4.40 | % | | | 3.95 | % | | | 7.49 | % |
Bloomberg Barclays U.S. Aggregate Index* | | | 6.14 | | | | 8.74 | | | | 5.32 | | | | 4.30 | | | | 3.82 | | | | 7.44 | |
Lipper Core Bond Funds Average† | | | 5.40 | | | | 7.82 | | | | 4.82 | | | | 3.98 | | | | 3.81 | | | | 7.28 | |
| |
* | Bloomberg Index Services Ltd. The Bloomberg Barclays U.S. Aggregate Index began on January 1, 1976. From May 28, 1974, through December 31, 1975, the Bloomberg Barclays U.S. Government/Credit Index was used. The indexes are unmanaged and, therefore, have no expenses. Investors cannot invest directly in an index. |
† | Source: Lipper, Refinitiv Datastream. Results for the Lipper averages do not reflect sales charges. Lipper averages reflect the current composition of all eligible mutual funds (all share classes) within a given category. To see the number of funds included in the Lipper category for each fund’s lifetime, please view the Quarterly Statistical Update, at capitalgroup.com. |
The fund’s 30-day yield for Class A shares as of July 31, 2020, calculated in accordance with the U.S. Securities and Exchange Commission (SEC) formula, was 0.94%. The fund’s 12-month distribution rate for Class A shares as of that date was 1.96%. Both reflect the 3.75% maximum sales charge. The SEC yield reflects the rate at which the fund is earning income on its current portfolio of securities while the distribution rate reflects the fund’s past dividends paid to shareholders. Accordingly, the fund’s SEC yield and distribution rate may differ.
The Bond Fund of America | 1 |
Summary investment portfolio June 30, 2020 | unaudited |
| |
Portfolio by type of security | Percent of net assets |
![](https://capedge.com/proxy/N-CSRS/0000051931-20-000748/image_003.jpg)
Portfolio quality summary* | | Percent of net assets |
U.S. Treasury and agency† | | | 20.37 | % |
AAA/Aaa | | | 35.56 | |
AA/Aa | | | 4.99 | |
A/A | | | 12.16 | |
BBB/Baa | | | 16.71 | |
Below investment grade | | | 4.33 | |
Unrated | | | .03 | |
Short-term securities & other assets less liabilities | | | 5.85 | |
* | Bond ratings, which typically range from AAA/Aaa (highest) to D (lowest), are assigned by credit rating agencies such as Standard & Poor’s, Moody’s and/or Fitch as an indication of an issuer’s creditworthiness. In assigning a credit rating to a security, the fund looks specifically to the ratings assigned to the issuer of the security by Standard & Poor’s, Moody’s and/or Fitch. If agency ratings differ, the security will be considered to have received the highest of those ratings, consistent with the fund’s investment policies. Securities in the “unrated” category (above) have not been rated by a rating agency; however, the investment adviser performs its own credit analysis and assigns comparable ratings that are used for compliance with the fund’s investment policies. |
† | These securities are guaranteed by the full faith and credit of the U.S. government. |
| |
Bonds, notes & other debt instruments 94.12% | | Principal amount (000) | | | Value (000) | |
Corporate bonds & notes 34.04% | | | | | | | | |
Financials 7.91% | | | | | | | | |
Other securities | | | | | | $ | 4,672,770 | |
| | | | | | | | |
Health care 4.36% | | | | | | | | |
Teva Pharmaceutical Finance Co. BV 2.80% 2023 | | $ | 239,298 | | | | 226,801 | |
Teva Pharmaceutical Finance Co. BV 2.20%–7.13% 2021–20461 | | | 462,571 | | | | 447,213 | |
Other securities | | | | | | | 1,900,254 | |
| | | | | | | 2,574,268 | |
| | | | | | | | |
Utilities 4.20% | | | | | | | | |
Other securities | | | | | | | 2,484,681 | |
| | | | | | | | |
Energy 3.83% | | | | | | | | |
Other securities | | | | | | | 2,266,047 | |
| |
2 | The Bond Fund of America |
| | Principal amount (000) | | | Value (000) | |
Consumer discretionary 3.14% | | | | | | | | |
Other securities | | | | | | $ | 1,855,126 | |
| | | | | | | | |
Consumer staples 2.54% | | | | | | | | |
Other securities | | | | | | | 1,502,705 | |
| | | | | | | | |
Communication services 2.41% | | | | | | | | |
Other securities | | | | | | | 1,423,693 | |
| | | | | | | | |
Information technology 2.12% | | | | | | | | |
Broadcom Corp. 3.875% 2027 | | $ | 32,260 | | | | 34,904 | |
Broadcom Inc. 4.25% 20261 | | | 150,225 | | | | 167,401 | |
Broadcom Inc. 4.75% 20291 | | | 175,189 | | | | 198,964 | |
Broadcom Inc. 3.15%–5.00% 2024–20301 | | | 159,365 | | | | 178,017 | |
Broadcom Ltd. 2.65%–3.63% 2023–2028 | | | 72,982 | | | | 77,480 | |
Other securities | | | | | | | 593,851 | |
| | | | | | | 1,250,617 | |
| | | | | | | | |
Industrials 2.11% | | | | | | | | |
Other securities | | | | | | | 1,247,560 | |
| | | | | | | | |
Other 1.42% | | | | | | | | |
Other securities | | | | | | | 837,401 | |
| | | | | | | | |
Total corporate bonds & notes | | | | | | | 20,114,868 | |
| | | | | | | | |
Mortgage-backed obligations 33.81% | | | | | | | | |
Federal agency mortgage-backed obligations 32.29% | | | | | | | | |
Fannie Mae Pool #CA4858 3.00% 20492 | | | 276,716 | | | | 293,972 | |
Fannie Mae Pool #CA3964 3.00% 20492 | | | 219,401 | | | | 233,098 | |
Fannie Mae Pool #CA5687 3.00% 20502 | | | 149,343 | | | | 161,551 | |
Fannie Mae 0%–9.12% 2023–20581,2,3 | | | 2,543,819 | | | | 2,732,963 | |
Freddie Mac Pool #SD7509 3.00% 20492 | | | 190,558 | | | | 203,013 | |
Freddie Mac Pool #RA2597 2.50% 20502 | | | 243,409 | | | | 254,020 | |
Freddie Mac Pool #QA7075 3.00% 20502 | | | 239,487 | | | | 254,544 | |
Freddie Mac Pool #SD7512 3.00% 20502 | | | 195,525 | | | | 208,224 | |
Freddie Mac Pool #QA8575 3.00% 20502 | | | 180,761 | | | | 194,900 | |
Freddie Mac Pool #RA2020 3.00% 20502 | | | 177,965 | | | | 189,064 | |
Freddie Mac Pool #SD7514 3.50% 20502 | | | 162,916 | | | | 174,927 | |
Freddie Mac 0%–7.50% 2022–20502,3 | | | 2,081,073 | | | | 2,240,484 | |
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-4, Class MA, 3.00% 20592 | | | 200,433 | | | | 213,428 | |
Government National Mortgage Assn. 2.50% 20502,4 | | | 1,461,465 | | | | 1,534,766 | |
Government National Mortgage Assn. 2.50%–6.64% 2028–20652,4 | | | 785,731 | | | | 837,489 | |
Government National Mortgage Assn. Pool #MA5876 4.00% 20492 | | | 167,115 | | | | 177,219 | |
Uniform Mortgage-Backed Security 2.00% 20352,4 | | | 2,555,995 | | | | 2,635,272 | |
Uniform Mortgage-Backed Security 2.00% 20352,4 | | | 1,979,710 | | | | 2,044,514 | |
Uniform Mortgage-Backed Security 2.50% 20352,4 | | | 260,000 | | | | 271,334 | |
Uniform Mortgage-Backed Security 2.00% 20502,4 | | | 201,742 | | | | 205,921 | |
Uniform Mortgage-Backed Security 2.50% 20502,4 | | | 766,487 | | | | 795,629 | |
Uniform Mortgage-Backed Security 3.00% 20502,4 | | | 279,733 | | | | 294,136 | |
Uniform Mortgage-Backed Security 3.50% 20502,4 | | | 1,092,782 | | | | 1,149,396 | |
Uniform Mortgage-Backed Security 3.50% 20502,4 | | | 350,000 | | | | 368,102 | |
Uniform Mortgage-Backed Securities 2.00%–4.50% 2035–20502,4 | | | 526,977 | | | | 552,847 | |
Other securities | | | | | | | 858,978 | |
| | | | | | | 19,079,791 | |
| |
The Bond Fund of America | 3 |
Bonds, notes & other debt instruments (continued) | | Principal amount (000) | | | Value (000) | |
Mortgage-backed obligations (continued) | | | | | | | | |
Other 1.52% | | | | | | | | |
Other securities | | | | | | $ | 900,284 | |
| | | | | | | | |
Total mortgage-backed obligations | | | | | | | 19,980,075 | |
| | | | | | | | |
U.S. Treasury bonds & notes 20.16% | | | | | | | | |
U.S. Treasury 18.74% | | | | | | | | |
U.S. Treasury 1.50% 2021 | | $ | 161,000 | | | | 164,056 | |
U.S. Treasury 2.50% 20215 | | | 575,000 | | | | 583,918 | |
U.S. Treasury 0.125% 2022 | | | 250,000 | | | | 249,853 | |
U.S. Treasury 1.50% 2022 | | | 211,000 | | | | 217,018 | |
U.S. Treasury 2.00% 2024 | | | 442,300 | | | | 472,987 | |
U.S. Treasury 2.00% 2024 | | | 183,000 | | | | 195,460 | |
U.S. Treasury 0.25% 2025 | | | 176,547 | | | | 176,222 | |
U.S. Treasury 0.375% 2025 | | | 711,800 | | | | 714,996 | |
U.S. Treasury 2.625% 2025 | | | 157,324 | | | | 174,753 | |
U.S. Treasury 2.75% 20255 | | | 992,493 | | | | 1,106,471 | |
U.S. Treasury 2.875% 2025 | | | 287,175 | | | | 323,385 | |
U.S. Treasury 1.75% 2026 | | | 200,000 | | | | 216,610 | |
U.S. Treasury 2.625% 2026 | | | 142,585 | | | | 160,431 | |
U.S. Treasury 0.50% 20275 | | | 556,100 | | | | 556,823 | |
U.S. Treasury 2.25% 2027 | | | 220,486 | | | | 248,254 | |
U.S. Treasury 1.125% 20405 | | | 204,476 | | | | 202,558 | |
U.S. Treasury 2.50% 20465 | | | 194,262 | | | | 240,620 | |
U.S. Treasury 3.00% 20485 | | | 179,901 | | | | 246,254 | |
U.S. Treasury 2.25% 20495 | | | 182,647 | | | | 219,578 | |
U.S. Treasury 2.375% 20495 | | | 156,608 | | | | 193,326 | |
U.S. Treasury 2.875% 20495 | | | 241,100 | | | | 326,081 | |
U.S. Treasury 1.25% 20505 | | | 706,237 | | | | 678,150 | |
U.S. Treasury 2.00% 2050 | | | 211,315 | | | | 241,902 | |
U.S. Treasury 0.13%–4.63% 2020–20495 | | | 2,852,552 | | | | 3,164,691 | |
| | | | | | | 11,074,397 | |
| | | | | | | | |
U.S. Treasury inflation-protected securities 1.42% | | | | | | | | |
U.S. Treasury Inflation-Protected Security 0.75% 20425,6 | | | 194,355 | | | | 233,282 | |
U.S. Treasury Inflation-Protected Security 1.00% 20495,6 | | | 245,353 | | | | 328,093 | |
U.S. Treasury Inflation-Protected Securities 0.13%–2.13% 2024–20506 | | | 249,650 | | | | 278,888 | |
| | | | | | | 840,263 | |
| | | | | | | | |
Total U.S. Treasury bonds & notes | | | | | | | 11,914,660 | |
| | | | | | | | |
Asset-backed obligations 2.40% | | | | | | | | |
Other securities | | | | | | | 1,414,767 | |
| | | | | | | | |
Municipals 1.83% | | | | | | | | |
Illinois 0.79% | | | | | | | | |
G.O. Bonds, Pension Funding, Series 2003, 5.10% 2033 | | | 162,050 | | | | 164,631 | |
Other securities | | | | | | | 299,420 | |
| | | | | | | 464,051 | |
| | | | | | | | |
Other 1.04% | | | | | | | | |
Other securities | | | | | | | 618,508 | |
| | | | | | | | |
Total municipals | | | | | | | 1,082,559 | |
| |
4 | The Bond Fund of America |
| | Principal amount (000) | | | Value (000) | |
Bonds & notes of governments & government agencies outside the U.S. 1.67% | | | | | | | | |
Other securities | | | | | | $ | 983,678 | |
| | | | | | | | |
Federal agency bonds & notes 0.21% | | | | | | | | |
Fannie Mae 0.625% 2025 | | $ | 124,000 | | | | 125,014 | |
| | | | | | | | |
Total bonds, notes & other debt instruments (cost: $53,042,227,000) | | | | | | | 55,615,621 | |
| | | | | | | | |
Preferred securities .00% | | | Shares | | | | | |
Financials .00% | | | | | | | | |
Other securities | | | | | | | 3,750 | |
| | | | | | | | |
Total preferred securities (cost: $5,820,000) | | | | | | | 3,750 | |
| | | | | | | | |
Common stocks 0.03% | | | | | | | | |
Health care 0.03% | | | | | | | | |
Other securities | | | | | | | 16,420 | |
| | | | | | | | |
Total common stocks (cost: $12,646,000) | | | | | | | 16,420 | |
| | | | | | | | |
Short-term securities 20.95% | | | | | | | | |
Money market investments 20.95% | | | | | | | | |
Capital Group Central Cash Fund 0.18%7,8 | | | 123,779,995 | | | | 12,379,237 | |
| | | | | | | | |
Total short-term securities (cost: $12,380,418,000) | | | | | | | 12,379,237 | |
Total investment securities 115.10% (cost: $65,441,111,000) | | | | | | | 68,015,028 | |
Other assets less liabilities (15.10)% | | | | | | | (8,923,487 | ) |
| | | | | | | | |
Net assets 100.00% | | | | | | $ | 59,091,541 | |
This summary investment portfolio is designed to streamline the report and help investors better focus on the fund’s principal holdings. See the inside back cover for details on how to obtain a complete schedule of portfolio holdings.
“Other securities” includes all issues that are not disclosed separately in the summary investment portfolio. “Other securities” includes securities that were valued under fair value procedures adopted by authority of the board of trustees. The total value of securities that were valued under fair value procedures was $79,365,000, which represented .13% of the net assets of the fund. “Other securities” also includes loan participations and assignments, which may be subject to legal or contractual restrictions on resale. The total value of all such loans was $10,454,000, which represented .02% of the net assets of the fund. One security in “Other securities” (with a value of $16,420,000, an aggregate cost of $12,646,000, and which represented .03% of the net assets of the fund) was acquired on 9/26/2013 through private placement transactions exempt from registration under the Securities Act of 1933, which may subject it to legal or contractual restrictions on resale.
The Bond Fund of America | 5 |
Futures contracts
| | | | | | | | Notional | | | Value at | | | Unrealized (depreciation) appreciation | |
| | | | Number of | | | | amount | 9 | | 6/30/2020 | 10 | | at 6/30/2020 | |
Contracts | | Type | | contracts | | Expiration | | (000) | | | (000) | | | (000) | |
90 Day Euro Dollar Futures | | Short | | 12,358 | | September 2020 | | $ | (3,089,500 | ) | | $ | (3,081,313 | ) | | | $ | (972 | ) |
90 Day Euro Dollar Futures | | Short | | 5,834 | | March 2021 | | | (1,458,500 | ) | | | (1,455,583 | ) | | | | (266 | ) |
90 Day Euro Dollar Futures | | Short | | 18,536 | | March 2022 | | | (4,634,000 | ) | | | (4,625,659 | ) | | | | (2,947 | ) |
2 Year U.S. Treasury Note Futures | | Long | | 6,640 | | October 2020 | | | 1,328,000 | | | | 1,466,299 | | | | | 248 | |
5 Year U.S. Treasury Note Futures | | Long | | 53,078 | | October 2020 | | | 5,307,800 | | | | 6,674,144 | | | | | 17,895 | |
10 Year Euro-Bund Futures | | Short | | 119 | | September 2020 | | € | (11,900 | ) | | | (23,600 | ) | | | | (253 | ) |
10 Year U.S. Treasury Note Futures | | Short | | 3,042 | | September 2020 | | $ | (304,200 | ) | | | (423,361 | ) | | | | (2,316 | ) |
10 Year Ultra U.S. Treasury Note Futures | | Short | | 27,805 | | September 2020 | | | (2,780,500 | ) | | | (4,378,853 | ) | | | | (25,385 | ) |
20 Year U.S. Treasury Bond Futures | | Long | | 11,706 | | September 2020 | | | 1,170,600 | | | | 2,090,253 | | | | | 12,690 | |
30 Year Ultra U.S. Treasury Bond Futures | | Long | | 7,094 | | September 2020 | | | 709,400 | | | | 1,547,600 | | | | | 12,288 | |
| | | | | | | | | | | | | | | | | $ | 10,982 | |
Forward currency contracts
Contract amount | | | | | | Unrealized appreciation (depreciation) | |
Purchases (000) | | Sales (000) | | Counterparty | | Settlement date | | at 6/30/2020 (000) | |
USD13,446 | | EUR11,800 | | JPMorgan Chase | | 7/6/2020 | | | $ | 187 | |
EUR2,910 | | USD3,270 | | Barclays Bank PLC | | 7/6/2020 | | | | — | 11 |
USD4,486 | | EUR3,960 | | HSBC Bank | | 7/9/2020 | | | | 37 | |
USD7,037 | | EUR6,221 | | Citibank | | 7/13/2020 | | | | 46 | |
EUR270 | | USD305 | | JPMorgan Chase | | 7/13/2020 | | | | (2 | ) |
USD20,052 | | EUR17,646 | | Barclays Bank PLC | | 7/14/2020 | | | | 221 | |
USD269 | | MXN6,021 | | Goldman Sachs | | 7/16/2020 | | | | 8 | |
USD614 | | GBP490 | | Citibank | | 7/16/2020 | | | | 6 | |
USD1,820 | | MXN41,200 | | JPMorgan Chase | | 7/17/2020 | | | | 31 | |
EUR700 | | USD790 | | JPMorgan Chase | | 7/17/2020 | | | | (4 | ) |
EUR205 | | USD231 | | Bank of New York Mellon | | 7/20/2020 | | | | (1 | ) |
USD5,225 | | EUR4,656 | | Goldman Sachs | | 7/22/2020 | | | | (8 | ) |
EUR1,000 | | USD1,122 | | Morgan Stanley | | 7/23/2020 | | | | 2 | |
KRW86,578,943 | | USD72,755 | | JPMorgan Chase | | 7/24/2020 | | | | (772 | ) |
KRW312,235,000 | | USD257,635 | | Morgan Stanley | | 7/27/2020 | | | | 1,964 | |
| | | | | | | | | $ | 1,715 | |
| |
6 | The Bond Fund of America |
Swap contracts
Interest rate swaps
Receive | | Pay | | Expiration date | | Notional (000) | | Value at 6/30/2020 (000) | | Upfront premium paid (000) | | | Unrealized (depreciation) appreciation at 6/30/2020 (000) | |
U.S. EFFR | | 0.11% | | 5/18/2024 | | $452,700 | | $ | (10 | ) | | $ | — | | | | $ | (10 | ) |
U.S. EFFR | | 0.1275% | | 6/25/2025 | | 194,300 | | | (385 | ) | | | — | | | | | (385 | ) |
U.S. EFFR | | 0.0975% | | 6/30/2025 | | 105,483 | | | (45 | ) | | | — | | | | | (45 | ) |
U.S. EFFR | | 0.106% | | 6/30/2025 | | 85,817 | | | (73 | ) | | | — | | | | | (73 | ) |
U.S. EFFR | | 0.105% | | 6/30/2025 | | 194,400 | | | (156 | ) | | | — | | | | | (156 | ) |
U.S. EFFR | | 0.093% | | 7/2/2025 | | 64,800 | | | (12 | ) | | | — | | | | | (12 | ) |
U.S. EFFR | | 0.096% | | 7/2/2025 | | 64,700 | | | (21 | ) | | | — | | | | | (21 | ) |
2.432% | | 3-month USD-LIBOR | | 9/21/2037 | | 2,000 | | | 527 | | | | — | | | | | 527 | |
2.987% | | 3-month USD-LIBOR | | 2/7/2038 | | 37,000 | | | 13,377 | | | | — | | | | | 13,377 | |
3.193% | | 3-month USD-LIBOR | | 5/21/2038 | | 45,000 | | | 18,081 | | | | — | | | | | 18,081 | |
3.062% | | 3-month USD-LIBOR | | 7/31/2038 | | 23,500 | | | 8,988 | | | | — | | | | | 8,988 | |
2.835% | | 3-month USD-LIBOR | | 1/10/2039 | | 21,500 | | | 7,519 | | | | — | | | | | 7,519 | |
2.874% | | 3-month USD-LIBOR | | 2/6/2039 | | 13,900 | | | 4,974 | | | | — | | | | | 4,974 | |
2.7055% | | 3-month USD-LIBOR | | 4/17/2039 | | 41,900 | | | 13,847 | | | | — | | | | | 13,847 | |
3-month USD-LIBOR | | 2.6785% | | 9/4/2045 | | 45,000 | | | (18,711 | ) | | | — | | | | | (18,711 | ) |
3-month USD-LIBOR | | 2.525% | | 10/20/2045 | | 28,000 | | | (10,668 | ) | | | — | | | | | (10,668 | ) |
3-month USD-LIBOR | | 2.516% | | 10/20/2045 | | 42,000 | | | (15,912 | ) | | | — | | | | | (15,912 | ) |
3-month USD-LIBOR | | 2.5315% | | 10/26/2045 | | 40,000 | | | (15,307 | ) | | | — | | | | | (15,307 | ) |
3-month USD-LIBOR | | 2.57082% | | 11/6/2045 | | 123,000 | | | (48,290 | ) | | | — | | | | | (48,290 | ) |
3-month USD-LIBOR | | 2.57067% | | 11/9/2045 | | 13,200 | | | (5,184 | ) | | | — | | | | | (5,184 | ) |
3-month USD-LIBOR | | 2.6485% | | 11/16/2045 | | 13,050 | | | (5,369 | ) | | | — | | | | | (5,369 | ) |
3-month USD-LIBOR | | 2.59125% | | 12/16/2045 | | 45,000 | | | (17,962 | ) | | | — | | | | | (17,962 | ) |
3-month USD-LIBOR | | 2.4095% | | 1/14/2046 | | 15,000 | | | (5,349 | ) | | | — | | | | | (5,349 | ) |
2.5095% | | 3-month USD-LIBOR | | 7/24/2047 | | 3,000 | | | 1,198 | | | | — | | | | | 1,198 | |
2.9075% | | 3-month USD-LIBOR | | 4/16/2048 | | 7,000 | | | 3,575 | | | | — | | | | | 3,575 | |
3-month USD-LIBOR | | 2.381% | | 5/31/2049 | | 14,500 | | | (5,638 | ) | | | — | | | | | (5,638 | ) |
3-month USD-LIBOR | | 1.934% | | 12/12/2049 | | 32,700 | | | (8,976 | ) | | | — | | | | | (8,976 | ) |
3-month USD-LIBOR | | 1.935% | | 12/17/2049 | | 41,790 | | | (11,487 | ) | | | — | | | | | (11,487 | ) |
3-month USD-LIBOR | | 2.007% | | 12/19/2049 | | 26,200 | | | (7,713 | ) | | | — | | | | | (7,713 | ) |
3-month USD-LIBOR | | 2.068% | | 12/24/2049 | | 54,390 | | | (16,915 | ) | | | — | | | | | (16,915 | ) |
3-month USD-LIBOR | | 2.045% | | 12/27/2049 | | 33,000 | | | (10,061 | ) | | | — | | | | | (10,061 | ) |
3-month USD-LIBOR | | 2.0375% | | 1/6/2050 | | 48,000 | | | (14,538 | ) | | | — | | | | | (14,538 | ) |
3-month USD-LIBOR | | 1.961% | | 1/9/2050 | | 72,600 | | | (20,487 | ) | | | — | | | | | (20,487 | ) |
3-month USD-LIBOR | | 1.678% | | 2/21/2050 | | 64,910 | | | (13,397 | ) | | | — | | | | | (13,397 | ) |
| | | | | | | | | | | | $ | — | | | | $ | (180,580 | ) |
Credit default swaps
Centrally cleared credit default swaps on credit indices — buy protection
Receive | | Pay/ Payment frequency | | Expiration date | | Notional (000) | | Value at 6/30/2020 (000) | | Upfront premium paid (000) | | | Unrealized depreciation at 6/30/2020 (000) | |
CDX.NA.HY.25 | | 5.00%/Quarterly | | 6/20/2025 | | $261,250 | | | $1,802 | | | $ | 14,719 | | | | $ | (12,917 | ) |
| |
The Bond Fund of America | 7 |
Investments in affiliates
A company is an affiliate of the fund under the Investment Company Act of 1940 if the fund’s holdings represent 5% or more of the outstanding voting shares of that company. The value of the fund’s affiliated-company holding is shown in the summary investment portfolio. Further details on this holding and related transactions during the six months ended June 30, 2020, appear below.
| | Beginning shares | | | Additions | | | Reductions | | | Ending shares | |
Short-term securities 20.95% | | | | | | | | | | | | | | | | |
Money market investments 20.95% | | | | | | | | | | | | | | | | |
Capital Group Central Cash Fund 0.18%7 | | | 28,748,660 | | | | 195,701,225 | | | | 100,669,890 | | | | 123,779,995 | |
| | | | | | | | | | | | | | | | |
| | Net realized gain (000) | | | Net unrealized depreciation (000) | | | Dividend income (000) | | | Value of affiliate at 6/30/2020 (000) | |
Short-term securities 20.95% | | | | | | | | | | | | | | | | |
Money market investments 20.95% | | | | | | | | | | | | | | | | |
Capital Group Central Cash Fund 0.18%7 | | $ | 2,486 | | | $ | (3,783 | ) | | $ | 25,055 | | | $ | 12,379,237 | |
| |
8 | The Bond Fund of America |
The following footnotes apply to either the individual securities noted or one or more of the securities aggregated and listed as a single line item.
1 | Acquired in a transaction exempt from registration under Rule 144A of the Securities Act of 1933. May be resold in the U.S. in transactions exempt from registration, normally to qualified institutional buyers. The total value of all such securities, including those in “Other securities,” was $7,038,867,000, which represented 11.91% of the net assets of the fund. |
2 | Principal payments may be made periodically. Therefore, the effective maturity date may be earlier than the stated maturity date. |
3 | Coupon rate may change periodically. Reference rate and spread are as of the most recent information available. Some coupon rates are determined by the issuer or agent based on current market conditions; therefore, the reference rate and spread are not available. |
4 | Purchased on a TBA basis. |
5 | All or a portion of this security was pledged as collateral. The total value of pledged collateral was $267,605,000, which represented .45% of the net assets of the fund. |
6 | Index-linked bond whose principal amount moves with a government price index. |
7 | Rate represents the seven-day yield at 6/30/2020. |
8 | Represents an affiliated company as defined under the Investment Company Act of 1940. |
9 | Notional amount is calculated based on the number of contracts and notional contract size. |
10 | Value is calculated based on the notional amount and current market price. |
11 | Amount less than one thousand. |
Key to abbreviations and symbols
EFFR = Effective Federal Funds Rate
EUR/€ = Euros
G.O. = General Obligation
GBP = British pounds
KRW = South Korean won
LIBOR = London Interbank Offered Rate
MXN = Mexican pesos
TBA = To-be-announced
USD/$ = U.S. dollars
See notes to financial statements.
The Bond Fund of America | 9 |
Financial statements
Statement of assets and liabilities | | unaudited |
at June 30, 2020 | | (dollars in thousands) |
| | | | | | |
Assets: | | | | | | |
Investment securities, at value: | | | | | | | | |
Unaffiliated issuers (cost: $53,060,693) | | $ | 55,635,791 | | | | | |
Affiliated issuers (cost: $12,380,418) | | | 12,379,237 | | | $ | 68,015,028 | |
Cash | | | | | | | 32,087 | |
Unrealized appreciation on open forward currency contracts | | | | | | | 2,502 | |
Receivables for: | | | | | | | | |
Sales of investments | | | 14,635,392 | | | | | |
Sales of fund’s shares | | | 120,359 | | | | | |
Dividends and interest | | | 284,459 | | | | | |
Variation margin on futures contracts | | | 7,484 | | | | | |
Variation margin on swap contracts | | | 5,854 | | | | 15,053,548 | |
| | | | | | | 83,103,165 | |
Liabilities: | | | | | | | | |
Unrealized depreciation on open forward currency contracts | | | | | | | 787 | |
Payables for: | | | | | | | | |
Purchases of investments | | | 23,917,446 | | | | | |
Repurchases of fund’s shares | | | 53,101 | | | | | |
Dividends on fund’s shares | | | 1,919 | | | | | |
Investment advisory services | | | 7,903 | | | | | |
Services provided by related parties | | | 11,805 | | | | | |
Trustees’ deferred compensation | | | 730 | | | | | |
Variation margin on futures contracts | | | 14,608 | | | | | |
Variation margin on swap contracts | | | 3,040 | | | | | |
Other | | | 285 | | | | 24,010,837 | |
Net assets at June 30, 2020 | | | | | | $ | 59,091,541 | |
|
Net assets consist of: | | | | | | | | |
Capital paid in on shares of beneficial interest | | | | | | $ | 54,787,815 | |
Total distributable earnings | | | | | | | 4,303,726 | |
Net assets at June 30, 2020 | | | | | | $ | 59,091,541 | |
See notes to financial statements.
10 | The Bond Fund of America |
(dollars and shares in thousands, except per-share amounts)
Shares of beneficial interest issued and outstanding (no stated par value) —
unlimited shares authorized (4,223,632 total shares outstanding)
| | Net assets | | | Shares outstanding | | | Net asset value per share | |
Class A | | $ | 26,541,053 | | | | 1,897,050 | | | $ | 13.99 | |
Class C | | | 893,163 | | | | 63,840 | | | | 13.99 | |
Class T | | | 11 | | | | 1 | | | | 13.99 | |
Class F-1 | | | 1,152,116 | | | | 82,349 | | | | 13.99 | |
Class F-2 | | | 12,284,231 | | | | 878,029 | | | | 13.99 | |
Class F-3 | | | 2,984,114 | | | | 213,293 | | | | 13.99 | |
Class 529-A | | | 1,347,385 | | | | 96,306 | | | | 13.99 | |
Class 529-C | | | 189,657 | | | | 13,556 | | | | 13.99 | |
Class 529-E | | | 52,784 | | | | 3,773 | | | | 13.99 | |
Class 529-T | | | 12 | | | | 1 | | | | 13.99 | |
Class 529-F-1 | | | 147,878 | | | | 10,570 | | | | 13.99 | |
Class R-1 | | | 38,039 | | | | 2,719 | | | | 13.99 | |
Class R-2 | | | 449,101 | | | | 32,100 | | | | 13.99 | |
Class R-2E | | | 40,640 | | | | 2,905 | | | | 13.99 | |
Class R-3 | | | 704,338 | | | | 50,343 | | | | 13.99 | |
Class R-4 | | | 630,160 | | | | 45,041 | | | | 13.99 | |
Class R-5E | | | 64,549 | | | | 4,613 | | | | 13.99 | |
Class R-5 | | | 177,396 | | | | 12,679 | | | | 13.99 | |
Class R-6 | | | 11,394,914 | | | | 814,464 | | | | 13.99 | |
See notes to financial statements.
The Bond Fund of America | 11 |
Statement of operations | | unaudited |
for the six months ended June 30, 2020 | | (dollars in thousands) |
| | | | | | |
Investment income: | | | | | | |
Income: | | | | | | |
Interest (net of non-U.S. taxes of $131) | | $ | 626,500 | | | | | |
Dividends (includes $25,055 from affiliates) | | | 25,142 | | | $ | 651,642 | |
Fees and expenses*: | | | | | | | | |
Investment advisory services | | | 46,340 | | | | | |
Distribution services | | | 43,128 | | | | | |
Transfer agent services | | | 24,633 | | | | | |
Administrative services | | | 8,061 | | | | | |
Reports to shareholders | | | 1,119 | | | | | |
Registration statement and prospectus | | | 2,381 | | | | | |
Trustees’ compensation | | | 62 | | | | | |
Auditing and legal | | | 222 | | | | | |
Custodian | | | 189 | | | | | |
Other | | | 576 | | | | | |
Total fees and expenses before waiver | | | 126,711 | | | | | |
Less investment advisory services waiver | | | 9 | | | | | |
Total fees and expenses after waiver | | | | | | | 126,702 | |
Net investment income | | | | | | | 524,940 | |
| | | | | | | | |
Net realized gain and unrealized appreciation: | | | | | | | | |
Net realized gain (loss) on: | | | | | | | | |
Investments (net of non-U.S. taxes of $504): | | | | | | | | |
Unaffiliated issuers | | | 1,388,499 | | | | | |
Affiliated issuers | | | 2,486 | | | | | |
Futures contracts | | | 703,344 | | | | | |
Forward currency contracts | | | 13,703 | | | | | |
Swap contracts | | | 137,156 | | | | | |
Currency transactions | | | (668 | ) | | | 2,244,520 | |
Net unrealized appreciation (depreciation) on: | | | | | | | | |
Investments: | | | | | | | | |
Unaffiliated issuers | | | 1,401,711 | | | | | |
Affiliated issuers | | | (3,783 | ) | | | | |
Futures contracts | | | 63,314 | | | | | |
Forward currency contracts | | | 2,755 | | | | | |
Swap contracts | | | (41,582 | ) | | | | |
Currency translations | | | (105 | ) | | | 1,422,310 | |
Net realized gain and unrealized appreciation | | | | | | | 3,666,830 | |
| | | | | | | | |
Net increase in net assets resulting from operations | | | | | | $ | 4,191,770 | |
* | Additional information related to class-specific fees and expenses is included in the notes to financial statements. |
See notes to financial statements.
12 | The Bond Fund of America |
Statements of changes in net assets | | | | | | |
| | (dollars in thousands) |
| | | | | | |
| | Six months ended June 30, 2020* | | | Year ended December 31, 2019 | |
Operations: | | | | | | |
Net investment income | | $ | 524,940 | | | $ | 1,099,130 | |
Net realized gain | | | 2,244,520 | | | | 1,193,522 | |
Net unrealized appreciation | | | 1,422,310 | | | | 1,072,818 | |
Net increase in net assets resulting from operations | | | 4,191,770 | | | | 3,365,470 | |
| | | | | | | | |
Distributions paid or accrued to shareholders | | | (625,384 | ) | | | (1,755,900 | ) |
| | | | | | | | |
Net capital share transactions | | | 5,078,063 | | | | 9,522,208 | |
| | | | | | | | |
Total increase in net assets | | | 8,644,449 | | | | 11,131,778 | |
| | | | | | | | |
Net assets: | | | | | | | | |
Beginning of period | | | 50,447,092 | | | | 39,315,314 | |
End of period | | $ | 59,091,541 | | | $ | 50,447,092 | |
See notes to financial statements.
The Bond Fund of America | 13 |
Notes to financial statements | unaudited |
1. Organization
The Bond Fund of America (the “fund”) is registered under the Investment Company Act of 1940 as an open-end, diversified management investment company. The fund seeks as high a level of current income as is consistent with the preservation of capital.
The fund has 19 share classes consisting of six retail share classes (Classes A, C, T, F-1, F-2 and F-3), five 529 college savings plan share classes (Classes 529-A, 529-C, 529-E, 529-T and 529-F-1) and eight retirement plan share classes (Classes R-1, R-2, R-2E, R-3, R-4, R-5E, R-5 and R-6). The 529 college savings plan share classes can be used to save for college education. The retirement plan share classes are generally offered only through eligible employer-sponsored retirement plans. The fund’s share classes are described further in the following table:
Share class | | Initial sales charge | | Contingent deferred sales charge upon redemption | | Conversion feature | |
Classes A and 529-A | | Up to 3.75%1 | | None (except 1% for certain redemptions within 18 months of purchase without an initial sales charge) | | None | |
Class C | | None | | 1% for redemptions within one year of purchase | | Class C converts to Class F-1 after 10 years2 | |
Class 529-C | | None | | 1% for redemptions within one year of purchase | | Class 529-C converts to Class 529-A after 10 years3 | |
Class 529-E | | None | | None | | None | |
Classes T and 529-T4 | | Up to 2.50% | | None | | None | |
Classes F-1, F-2, F-3 and 529-F-1 | | None | | None | | None | |
Classes R-1, R-2, R-2E, R-3, R-4, R-5E, R-5 and R-6 | | None | | None | | None | |
1 | Up to 3.50% for Class 529-A shares purchased on or after June 30, 2020. |
2 | Effective June 30, 2020, Class C converts to Class A after 8 years. |
3 | Effective June 30, 2020, Class 529-C converts to Class 529-A after 5 years. |
4 | Class T and 529-T shares are not available for purchase. |
Holders of all share classes have equal pro rata rights to the assets, dividends and liquidation proceeds of the fund. Each share class has identical voting rights, except for the exclusive right to vote on matters affecting only its class. Share classes have different fees and expenses (“class-specific fees and expenses”), primarily due to different arrangements for distribution, transfer agent and administrative services. Differences in class-specific fees and expenses will result in differences in net investment income and, therefore, the payment of different per-share dividends by each share class.
14 | The Bond Fund of America |
2. Significant accounting policies
The fund is an investment company that applies the accounting and reporting guidance issued in Topic 946 by the U.S. Financial Accounting Standards Board. The fund’s financial statements have been prepared to comply with U.S. generally accepted accounting principles (“U.S. GAAP”). These principles require the fund’s investment adviser to make estimates and assumptions that affect reported amounts and disclosures. Actual results could differ from those estimates. Subsequent events, if any, have been evaluated through the date of issuance in the preparation of the financial statements. The fund follows the significant accounting policies described in this section, as well as the valuation policies described in the next section on valuation.
Security transactions and related investment income — Security transactions are recorded by the fund as of the date the trades are executed with brokers. Realized gains and losses from security transactions are determined based on the specific identified cost of the securities. In the event a security is purchased with a delayed payment date, the fund will segregate liquid assets sufficient to meet its payment obligations. Dividend income is recognized on the ex-dividend date and interest income is recognized on an accrual basis. Market discounts, premiums and original issue discounts on fixed-income securities are amortized daily over the expected life of the security.
Class allocations — Income, fees and expenses (other than class-specific fees and expenses) are allocated daily among the various share classes based on the relative value of their settled shares. Realized gains and losses and unrealized appreciation and depreciation are allocated daily among the various share classes based on their relative net assets. Class-specific fees and expenses, such as distribution, transfer agent and administrative services, are charged directly to the respective share class.
Distributions paid or accrued to shareholders — Income dividends are declared daily after the determination of the fund’s net investment income and are paid to shareholders monthly. Capital gain distributions are recorded on the ex-dividend date.
Currency translation — Assets and liabilities, including investment securities, denominated in currencies other than U.S. dollars are translated into U.S. dollars at the exchange rates supplied by one or more pricing vendors on the valuation date. Purchases and sales of investment securities and income and expenses are translated into U.S. dollars at the exchange rates on the dates of such transactions. The effects of changes in exchange rates on investment securities are included with the net realized gain or loss and net unrealized appreciation or depreciation on investments in the fund’s statement of operations. The realized gain or loss and unrealized appreciation or depreciation resulting from all other transactions denominated in currencies other than U.S. dollars are disclosed separately.
The Bond Fund of America | 15 |
3. Valuation
Capital Research and Management Company (“CRMC”), the fund’s investment adviser, values the fund’s investments at fair value as defined by U.S. GAAP. The net asset value of each share class of the fund is generally determined as of approximately 4:00 p.m. New York time each day the New York Stock Exchange is open.
Methods and inputs — The fund’s investment adviser uses the following methods and inputs to establish the fair value of the fund’s assets and liabilities. Use of particular methods and inputs may vary over time based on availability and relevance as market and economic conditions evolve.
Equity securities are generally valued at the official closing price of, or the last reported sale price on, the exchange or market on which such securities are traded, as of the close of business on the day the securities are being valued or, lacking any sales, at the last available bid price. Prices for each security are taken from the principal exchange or market on which the security trades.
Fixed-income securities, including short-term securities, are generally valued at prices obtained from one or more pricing vendors. Vendors value such securities based on one or more of the inputs described in the following table. The table provides examples of inputs that are commonly relevant for valuing particular classes of fixed-income securities in which the fund is authorized to invest. However, these classifications are not exclusive, and any of the inputs may be used to value any other class of fixed-income security.
Fixed-income class | | Examples of standard inputs |
All | | Benchmark yields, transactions, bids, offers, quotations from dealers and trading systems, new issues, spreads and other relationships observed in the markets among comparable securities; and proprietary pricing models such as yield measures calculated using factors such as cash flows, financial or collateral performance and other reference data (collectively referred to as “standard inputs”) |
Corporate bonds & notes; convertible securities | | Standard inputs and underlying equity of the issuer |
Bonds & notes of governments & government agencies | | Standard inputs and interest rate volatilities |
Mortgage-backed; asset-backed obligations | | Standard inputs and cash flows, prepayment information, default rates, delinquency and loss assumptions, collateral characteristics, credit enhancements and specific deal information |
Municipal securities | | Standard inputs and, for certain distressed securities, cash flows or liquidation values using a net present value calculation based on inputs that include, but are not limited to, financial statements and debt contracts |
16 | The Bond Fund of America |
When the fund’s investment adviser deems it appropriate to do so (such as when vendor prices are unavailable or deemed to be not representative), fixed-income securities will be valued in good faith at the mean quoted bid and ask prices that are reasonably and timely available (or bid prices, if ask prices are not available) or at prices for securities of comparable maturity, quality and type.
Securities with both fixed-income and equity characteristics, or equity securities traded principally among fixed-income dealers, are generally valued in the manner described for either equity or fixed-income securities, depending on which method is deemed most appropriate by the fund’s investment adviser. The Capital Group Central Cash Fund (“CCF”), a fund within the Capital Group Central Fund Series (“Central Funds”), is valued based upon a floating net asset value, which fluctuates with changes in the value of CCF’s portfolio securities. The underlying securities are valued based on the policies and procedures in CCF’s statement of additional information. Exchange-traded futures are generally valued at the official settlement price of the exchange or market on which such instruments are traded, as of the close of business on the day the futures are being valued. Forward currency contracts are valued at the mean of representative quoted bid and ask prices, generally based on prices supplied by one or more pricing vendors. Interest rate swaps and credit default swaps are generally valued by pricing vendors based on market inputs that include the index and term of index, reset frequency, payer/receiver, currency and pay frequency.
Securities and other assets for which representative market quotations are not readily available or are considered unreliable by the fund’s investment adviser are fair valued as determined in good faith under fair valuation guidelines adopted by authority of the fund’s board of trustees as further described. The investment adviser follows fair valuation guidelines, consistent with U.S. Securities and Exchange Commission rules and guidance, to consider relevant principles and factors when making fair value determinations. The investment adviser considers relevant indications of value that are reasonably and timely available to it in determining the fair value to be assigned to a particular security, such as the type and cost of the security; contractual or legal restrictions on resale of the security; relevant financial or business developments of the issuer; actively traded similar or related securities; conversion or exchange rights on the security; related corporate actions; significant events occurring after the close of trading in the security; and changes in overall market conditions. In addition, the closing prices of equity securities that trade in markets outside U.S. time zones may be adjusted to reflect significant events that occur after the close of local trading but before the net asset value of each share class of the fund is determined. Fair valuations and valuations of investments that are not actively trading involve judgment and may differ materially from valuations that would have been used had greater market activity occurred.
Processes and structure — The fund’s board of trustees has delegated authority to the fund’s investment adviser to make fair value determinations, subject to board oversight. The investment adviser has established a Joint Fair Valuation Committee (the “Fair Valuation Committee”) to administer, implement and oversee the fair valuation process, and to make fair value decisions. The Fair Valuation Committee regularly reviews its own
The Bond Fund of America | 17 |
fair value decisions, as well as decisions made under its standing instructions to the investment adviser’s valuation teams. The Fair Valuation Committee reviews changes in fair value measurements from period to period and may, as deemed appropriate, update the fair valuation guidelines to better reflect the results of back testing and address new or evolving issues. The Fair Valuation Committee reports any changes to the fair valuation guidelines to the board of trustees. The fund’s board and audit committee also regularly review reports that describe fair value determinations and methods.
The fund’s investment adviser has also established a Fixed-Income Pricing Review Group to administer and oversee the fixed-income valuation process, including the use of fixed-income pricing vendors. This group regularly reviews pricing vendor information and market data. Pricing decisions, processes and controls over security valuation are also subject to additional internal reviews, including an annual control self-evaluation program facilitated by the investment adviser’s compliance group.
Classifications — The fund’s investment adviser classifies the fund’s assets and liabilities into three levels based on the inputs used to value the assets or liabilities. Level 1 values are based on quoted prices in active markets for identical securities. Level 2 values are based on significant observable market inputs, such as quoted prices for similar securities and quoted prices in inactive markets. Certain securities trading outside the U.S. may transfer between Level 1 and Level 2 due to valuation adjustments resulting from significant market movements following the close of local trading. Level 3 values are based on significant unobservable inputs that reflect the investment adviser’s determination of assumptions that market participants might reasonably use in valuing the securities. The valuation levels are not necessarily an indication of the risk or liquidity associated with the underlying investment. For example, U.S. government securities are reflected as Level 2 because the inputs used to determine fair value may not always be quoted prices in an active market. The tables on the following page present the fund’s valuation levels as of June 30, 2020 (dollars in thousands):
18 | The Bond Fund of America |
| | Investment securities |
| | Level 1 | | | Level 2 | | | Level 3 | | | Total | |
Assets: | | | | | | | | | | | | |
Bonds, notes & other debt instruments: | | | | | | | | | | | | |
Corporate bonds & notes | | $ | — | | | $ | 20,107,163 | | | $ | 7,705 | | | $ | 20,114,868 | |
Mortgage-backed obligations | | | — | | | | 19,980,075 | | | | — | | | | 19,980,075 | |
U.S. Treasury bonds & notes | | | — | | | | 11,914,660 | | | | — | | | | 11,914,660 | |
Asset-backed obligations | | | — | | | | 1,414,767 | | | | — | | | | 1,414,767 | |
Municipals | | | — | | | | 1,082,559 | | | | — | | | | 1,082,559 | |
Bonds & notes of governments & government agencies outside the U.S. | | | — | | | | 983,678 | | | | — | | | | 983,678 | |
Federal agency bonds & notes | | | — | | | | 125,014 | | | | — | | | | 125,014 | |
Preferred securities | | | — | | | | 3,750 | | | | — | | | | 3,750 | |
Common stocks | | | — | | | | — | | | | 16,420 | | | | 16,420 | |
Short-term securities | | | 12,379,237 | | | | — | | | | — | | | | 12,379,237 | |
Total | | $ | 12,379,237 | | | $ | 55,611,666 | | | $ | 24,125 | | | $ | 68,015,028 | |
| | | | | | | | | | | | | | | | |
| | Other investments* |
| | Level 1 | | | Level 2 | | | Level 3 | | | Total | |
Assets: | | | | | | | | | | | | | | | | |
Unrealized appreciation on futures contracts | | $ | 43,121 | | | $ | — | | | $ | — | | | $ | 43,121 | |
Unrealized appreciation on open forward currency contracts | | | — | | | | 2,502 | | | | — | | | | 2,502 | |
Unrealized appreciation on interest rate swaps | | | — | | | | 72,086 | | | | — | | | | 72,086 | |
Liabilities: | | | | | | | | | | | | | | | | |
Unrealized depreciation on futures contracts | | | (32,139 | ) | | | — | | | | — | | | | (32,139 | ) |
Unrealized depreciation on open forward currency contracts | | | — | | | | (787 | ) | | | — | | | | (787 | ) |
Unrealized depreciation on interest rate swaps | | | — | | | | (252,666 | ) | | | — | | | | (252,666 | ) |
Unrealized depreciation on credit default swaps | | | — | | | | (12,917 | ) | | | — | | | | (12,917 | ) |
Total | | $ | 10,982 | | | $ | (191,782 | ) | | $ | — | | | $ | (180,800 | ) |
* | Futures contracts, forward currency contracts, interest rate swaps and credit default swaps are not included in the investment portfolio. |
The Bond Fund of America | 19 |
4. Risk factors
Investing in the fund may involve certain risks including, but not limited to, those described below.
Market conditions — The prices of, and the income generated by, the securities held by the fund may decline — sometimes rapidly or unpredictably — due to various factors, including events or conditions affecting the general economy or particular industries; overall market changes; local, regional or global political, social or economic instability; governmental, governmental agency or central bank responses to economic conditions; and currency exchange rate, interest rate and commodity price fluctuations.
Economies and financial markets throughout the world are highly interconnected. Economic, financial or political events, trading and tariff arrangements, wars, terrorism, cybersecurity events, natural disasters, public health emergencies (such as the spread of infectious disease) and other circumstances in one country or region could have impacts on global economies or markets. As a result, whether or not the fund invests in securities of issuers located in or with significant exposure to the countries affected, the value and liquidity of the fund’s investments may be negatively affected by developments in other countries and regions.
Issuer risks — The prices of, and the income generated by, securities held by the fund may decline in response to various factors directly related to the issuers of such securities, including reduced demand for an issuer’s goods or services, poor management performance, major litigation related to the issuer, changes in government regulations affecting the issuer or its competitive environment and strategic initiatives such as mergers, acquisitions or dispositions and the market response to any such initiatives.
Investing in debt instruments — The prices of, and the income generated by, bonds and other debt securities held by the fund may be affected by changing interest rates and by changes in the effective maturities and credit ratings of these securities.
Rising interest rates will generally cause the prices of bonds and other debt securities to fall. A general rise in interest rates may cause investors to sell debt securities on a large scale, which could also adversely affect the price and liquidity of debt securities and could also result in increased redemptions from the fund. Falling interest rates may cause an issuer to redeem, call or refinance a debt security before its stated maturity, which may result in the fund failing to recoup the full amount of its initial investment and having to reinvest the proceeds in lower yielding securities. Longer maturity debt securities generally have greater sensitivity to changes in interest rates and may be subject to greater price fluctuations than shorter maturity debt securities.
Bonds and other debt securities are also subject to credit risk, which is the possibility that the credit strength of an issuer or guarantor will weaken or be perceived to be weaker, and/or an issuer of a debt security will fail to make timely payments of principal or interest and the security will go into default. A downgrade or default affecting any of the fund’s
20 | The Bond Fund of America |
securities could cause the value of the fund’s shares to decrease. Lower quality debt securities generally have higher rates of interest and may be subject to greater price fluctuations than higher quality debt securities. Credit risk is gauged, in part, by the credit ratings of the debt securities in which the fund invests. However, ratings are only the opinions of the rating agencies issuing them and are not guarantees as to credit quality or an evaluation of market risk. The fund’s investment adviser relies on its own credit analysts to research issuers and issues in seeking to assess credit and default risks.
Investing in mortgage-related and other asset-backed securities — Mortgage-related securities, such as mortgage-backed securities, and other asset-backed securities, include debt obligations that represent interests in pools of mortgages or other income-bearing assets, such as consumer loans or receivables. Such securities often involve risks that are different from or more acute than the risks associated with investing in other types of debt securities. Mortgage-backed and other asset-backed securities are subject to changes in the payment patterns of borrowers of the underlying debt, potentially increasing the volatility of the securities and the fund’s net asset value. When interest rates fall, borrowers are more likely to refinance or prepay their debt before its stated maturity. This may result in the fund having to reinvest the proceeds in lower yielding securities, effectively reducing the fund’s income. Conversely, if interest rates rise and borrowers repay their debt more slowly than expected, the time in which the mortgage-backed and other asset-backed securities are paid off could be extended, reducing the fund’s cash available for reinvestment in higher yielding securities. Mortgage-backed securities are also subject to the risk that underlying borrowers will be unable to meet their obligations and the value of property that secures the mortgages may decline in value and be insufficient, upon foreclosure, to repay the associated loans. Investments in asset-backed securities are subject to similar risks.
Investing in securities backed by the U.S. government — Securities backed by the U.S. Treasury or the full faith and credit of the U.S. government are guaranteed only as to the timely payment of interest and principal when held to maturity. Accordingly, the current market values for these securities will fluctuate with changes in interest rates and the credit rating of the U.S. government. Securities issued by government-sponsored entities and federal agencies and instrumentalities that are not backed by the full faith and credit of the U.S. government are neither issued nor guaranteed by the U.S. government.
Liquidity risk — Certain fund holdings may be or may become difficult or impossible to sell, particularly during times of market turmoil. Liquidity may be impacted by the lack of an active market for a holding, legal or contractual restrictions on resale, or the reduced number and capacity of market participants to make a market in such holding. Market prices for less liquid or illiquid holdings may be volatile, and reduced liquidity may have an adverse impact on the market price of such holdings. Additionally, the sale of less liquid or illiquid holdings may involve substantial delays (including delays in settlement) and additional costs and the fund may be unable to sell such holdings when necessary to meet its liquidity needs or may be forced to sell at a loss.
The Bond Fund of America | 21 |
Investing outside the U.S. — Securities of issuers domiciled outside the U.S., or with significant operations or revenues outside the U.S., may lose value because of adverse political, social, economic or market developments (including social instability, regional conflicts, terrorism and war) in the countries or regions in which the issuers operate or generate revenue. These securities may also lose value due to changes in foreign currency exchange rates against the U.S. dollar and/or currencies of other countries. Issuers of these securities may be more susceptible to actions of foreign governments, such as nationalization, currency blockage or the imposition of price controls or punitive taxes, each of which could adversely impact the value of these securities. Securities markets in certain countries may be more volatile and/or less liquid than those in the U.S. Investments outside the U.S. may also be subject to different accounting practices and different regulatory, legal and reporting standards and practices, and may be more difficult to value, than those in the U.S. In addition, the value of investments outside the U.S. may be reduced by foreign taxes, including foreign withholding taxes on interest and dividends. Further, there may be increased risks of delayed settlement of securities purchased or sold by the fund. The risks of investing outside the U.S. may be heightened in connection with investments in emerging markets.
Investing in future delivery contracts — The fund may enter into contracts, such as to-be-announced contracts and mortgage dollar rolls, that involve the fund selling mortgage-related securities and simultaneously contracting to repurchase similar securities for delivery at a future date at a predetermined price. This can increase the fund’s market exposure, and the market price of the securities that the fund contracts to repurchase could drop below their purchase price. While the fund can preserve and generate capital through the use of such contracts by, for example, realizing the difference between the sale price and the future purchase price, the income generated by the fund may be reduced by engaging in such transactions. In addition, these transactions may increase the turnover rate of the fund.
Investing in inflation-linked bonds — The values of inflation-linked bonds generally fluctuate in response to changes in real interest rates — i.e., rates of interest after factoring in inflation. A rise in real interest rates may cause the prices of inflation-linked securities to fall, while a decline in real interest rates may cause the prices to increase. Inflation-linked bonds may experience greater losses than other debt securities with similar durations when real interest rates rise faster than nominal interest rates. There can be no assurance that the value of an inflation-linked security will be directly correlated to changes in interest rates; for example, if interest rates rise for reasons other than inflation, the increase may not be reflected in the security’s inflation measure.
Investing in inflation-linked bonds may also reduce the fund’s distributable income during periods of deflation. If prices for goods and services decline throughout the economy, the principal and income on inflation-linked securities may decline and result in losses to the fund.
22 | The Bond Fund of America |
Investing in derivatives — The use of derivatives involves a variety of risks, which may be different from, or greater than, the risks associated with investing in traditional securities, such as stocks and bonds. Changes in the value of a derivative may not correlate perfectly with, and may be more sensitive to market events than, the underlying asset, rate or index, and a derivative instrument may expose the fund to losses in excess of its initial investment. Derivatives may be difficult to value, difficult for the fund to buy or sell at an opportune time or price and difficult, or even impossible, to terminate or otherwise offset. The fund’s use of derivatives may result in losses to the fund, and investing in derivatives may reduce the fund’s returns and increase the fund’s price volatility. The fund’s counterparty to a derivative transaction (including, if applicable, the fund’s clearing broker, the derivatives exchange or the clearinghouse) may be unable or unwilling to honor its financial obligations in respect of the transaction. In certain cases, the fund may be hindered or delayed in exercising remedies against or closing out derivative instruments with a counterparty, which may result in additional losses.
Management — The investment adviser to the fund actively manages the fund’s investments. Consequently, the fund is subject to the risk that the methods and analyses, including models, tools and data, employed by the investment adviser in this process may be flawed or incorrect and may not produce the desired results. This could cause the fund to lose value or its investment results to lag relevant benchmarks or other funds with similar objectives.
5. Certain investment techniques
Index-linked bonds — The fund has invested in index-linked bonds, which are fixed-income securities whose principal value is periodically adjusted to a government price index. Over the life of an index-linked bond, interest is paid on the adjusted principal value. Increases or decreases in the principal value of index-linked bonds are recorded as interest income in the fund’s statement of operations.
Mortgage dollar rolls — The fund has entered into mortgage dollar roll transactions in which the fund sells a mortgage-backed security to a counterparty and simultaneously enters into an agreement with the same counterparty to buy back a similar security on a specific future date at a predetermined price. Mortgage dollar rolls are accounted for as purchase and sale transactions. Portfolio turnover rates excluding and including mortgage dollar rolls are presented at the end of the fund’s financial highlights table.
Loan transactions — The fund has entered into loan transactions in which the fund acquires a loan either through an agent, by assignment from another holder, or as a participation interest in another holder’s portion of a loan. The loan is often administered by a financial institution that acts as agent for the holders of the loan, and the fund may be required to receive approval from the agent and/or borrower prior to the sale of the investment. The loan’s interest rate and maturity date may change based on the terms of the loan, including potential early payments of principal.
The Bond Fund of America | 23 |
Unfunded commitments — The fund has participated in transactions that involve unfunded commitments, which may obligate the fund to purchase new or additional bonds if certain contingencies are met. As of June 30, 2020, the fund’s maximum exposure of unfunded bond commitments was $1,056,000, which would represent less than .01% of the net assets of the fund should such commitments become due.
Futures contracts — The fund has entered into futures contracts, which provide for the future sale by one party and purchase by another party of a specified amount of a specific financial instrument for a specified price, date, time and place designated at the time the contract is made. Futures contracts are used to strategically manage the fund’s interest rate sensitivity by increasing or decreasing the duration of the fund or a portion of the fund’s portfolio.
Upon entering into futures contracts, and to maintain the fund’s open positions in futures contracts, the fund is required to deposit with a futures broker, known as a futures commission merchant (“FCM”), in a segregated account in the name of the FCM an amount of cash, U.S. government securities or other liquid securities, known as initial margin. The margin required for a particular futures contract is set by the exchange on which the contract is traded to serve as collateral, and may be significantly modified from time to time by the exchange during the term of the contract.
On a daily basis, the fund pays or receives variation margin based on the increase or decrease in the value of the futures contracts and records variation margin on futures contracts in the statement of assets and liabilities. In addition, the fund segregates liquid assets equivalent to the fund’s outstanding obligations under the contract in excess of the initial margin and variation margin, if any. Futures contracts may involve a risk of loss in excess of the variation margin shown on the fund’s statement of assets and liabilities. The fund records realized gains or losses at the time the futures contract is closed or expires. Net realized gains or losses and net unrealized appreciation or depreciation from futures contracts are recorded in the fund’s statement of operations. The average month-end notional amount of futures contracts while held was $23,444,165,000.
Forward currency contracts — The fund has entered into forward currency contracts, which represent agreements to exchange currencies on specific future dates at predetermined rates. The fund’s investment adviser uses forward currency contracts to manage the fund’s exposure to changes in exchange rates. Upon entering into these contracts, risks may arise from the potential inability of counterparties to meet the terms of their contracts and from possible movements in exchange rates.
On a daily basis, the fund’s investment adviser values forward currency contracts and records unrealized appreciation or depreciation for open forward currency contracts in the fund’s statement of assets and liabilities. Realized gains or losses are recorded at the time the forward currency contract is closed or offset by another contract with the same broker for the same settlement date and currency.
24 | The Bond Fund of America |
Closed forward currency contracts that have not reached their settlement date are included in the respective receivables or payables for closed forward currency contracts in the fund’s statement of assets and liabilities. Net realized gains or losses from closed forward currency contracts and net unrealized appreciation or depreciation from open forward currency contracts are recorded in the fund’s statement of operations. The average month-end notional amount of open forward currency contracts while held was $1,222,473,000.
Interest rate swaps — The fund has entered into interest rate swap contracts, which are agreements to exchange one stream of future interest payments for another based on a specified notional amount. Typically, interest rate swaps exchange a fixed interest rate for a payment that floats relative to a benchmark or vice versa. The fund’s investment adviser uses interest rate swaps to seek to manage the interest rate sensitivity of the fund by increasing or decreasing the duration of the fund or a portion of the fund’s portfolio. Risks may arise as a result of the fund’s investment adviser incorrectly anticipating changes in interest rates, increased volatility, reduced liquidity and the potential inability of counterparties to meet the terms of their agreements.
Upon entering into an interest rate swap contract, the fund is required to deposit cash, U.S. government securities or other liquid securities, which is known as initial margin. Generally, the initial margin required for a particular interest rate swap is set and held as collateral by the clearinghouse on which the contract is cleared. The amount of initial margin required may be significantly modified from time to time by the clearinghouse during the term of the contract.
On a daily basis, the fund’s investment adviser records daily interest accruals related to the exchange of future payments as a receivable and payable in the fund’s statement of assets and liabilities. The fund also pays or receives a variation margin based on the increase or decrease in the value of the interest rate swaps, including accrued interest, and records variation margin on interest rate swaps in the statement of assets and liabilities. The fund records realized gains and losses on both the net accrued interest and any gain or loss recognized at the time the interest rate swap is closed or expires. Net realized gains or losses, as well as any net unrealized appreciation or depreciation, from interest rate swaps are recorded in the fund’s statement of operations. The average month-end notional amount of interest rate swaps while held was $95,443,177,000.
Credit default swap indices — The fund has entered into centrally cleared credit default swap agreements on credit indices (“CDSI”) that involve one party (the protection buyer) making a stream of payments to another party (the protection seller) in exchange for the right to receive a specified return upon the occurrence of a credit event, such as a default or restructuring, with respect to any of the underlying issuers (reference obligations) in the referenced index. The fund’s investment adviser uses credit default swaps to assume exposure to a diversified portfolio of credits or to hedge against existing credit risks.
CDSI are portfolios of credit instruments or exposures designed to be representative of some part of the credit market, such as the high-yield or investment-grade credit market. CDSI are generally traded using standardized terms, including a fixed spread and
The Bond Fund of America | 25 |
standard maturity dates, and reference all the names in the index. If there is a credit event, it is settled based on that name’s weight in the index. The composition of the underlying issuers or obligations within a particular index may change periodically, usually every six months. A specified credit event may affect all or individual underlying reference obligations included in the index, and will be settled based upon the relative weighting of the affected obligation(s) within the index. The value of each CDSI can be used as a measure of the current payment/performance risk of the CDSI and represents the likelihood of an expected liability or profit should the notional amount of the CDSI be closed or sold as of the period end. An increasing value, as compared to the notional amount of the CDSI, represents a deterioration of the referenced indices’ credit soundness and a greater likelihood of risk of default or other credit event occurring as defined under the terms of the agreement. When the fund provides sell protection, its maximum exposure is the notional amount of the credit default swap agreement.
Upon entering into a centrally cleared CDSI contract, the fund is required to deposit with a derivatives clearing member (“DCM”) in a segregated account in the name of the DCM an amount of cash, U.S. government securities or other liquid securities, which is known as initial margin. Generally, the initial margin required for a particular credit default swap is set and held as collateral by the clearinghouse on which the contract is cleared. The amount of initial margin required may be significantly modified from time to time by the clearinghouse during the term of the contract.
On a daily basis, interest accruals related to the exchange of future payments are recorded as a receivable and payable in the fund’s statement of assets and liabilities. The fund also pays or receives a variation margin based on the increase or decrease in the value of the CDSI, and records variation margin in the statement of assets and liabilities. The fund records realized gains and losses on both the net accrued interest and any gain or loss recognized at the time the swap is closed or expires. Net realized gains or losses, as well as any net unrealized appreciation or depreciation, from credit default swaps are recorded in the fund’s statement of operations. The average month-end notional amount of credit default swaps while held was $1,632,391,000.
26 | The Bond Fund of America |
The following tables identify the location and fair value amounts on the fund’s statement of assets and liabilities and the effect on the fund’s statement of operations resulting from the fund’s use of futures contracts, forward currency contracts, interest rate swaps and credit default swaps as of, or for the six months ended, June 30, 2020 (dollars in thousands):
| | | | Assets | | | Liabilities | |
Contracts | | Risk type | | Location on statement of assets and liabilities | | Value | | | Location on statement of assets and liabilities | | Value | |
Futures | | Interest | | Unrealized appreciation* | | $ | 43,121 | | | Unrealized depreciation* | | $ | 32,139 | |
Forward currency | | Currency | | Unrealized appreciation on open forward currency contracts | | | 2,502 | | | Unrealized depreciation on open forward currency contracts | | | 787 | |
Swap | | Interest | | Unrealized appreciation* | | | 72,086 | | | Unrealized depreciation* | | | 252,666 | |
Swap | | Credit | | Unrealized appreciation* | | | — | | | Unrealized depreciation* | | | 12,917 | |
| | | | | | $ | 117,709 | | | | | $ | 298,509 | |
| | | | | | | | | | | | | | |
| | | | Net realized gain (loss) | | | Net unrealized appreciation (depreciation) | |
Contracts | | Risk type | | Location on statement of operations | | | Value | | | Location on statement of operations | | | Value | |
Futures | | Interest | | Net realized gain on futures contracts | | $ | 703,344 | | | Net unrealized appreciation on futures contracts | | $ | 63,314 | |
Forward currency | | Currency | | Net realized gain on forward currency contracts | | | 13,703 | | | Net unrealized appreciation on forward currency contracts | | | 2,755 | |
Swap | | Interest | | Net realized loss on swap contracts | | | (2,309 | ) | | Net unrealized depreciation on swap contracts | | | (47,312 | ) |
Swap | | Credit | | Net realized gain on swap contracts | | | 139,465 | | | Net unrealized appreciation on swap contracts | | | 5,730 | |
| | | | | | $ | 854,203 | | | | | $ | 24,487 | |
* | Includes cumulative appreciation/depreciation on futures contracts, interest rate swaps and credit default swaps as reported in the applicable tables following the fund’s investment portfolio. Only current day’s variation margin is reported within the statement of assets and liabilities. |
Collateral — The fund receives or pledges highly liquid assets, such as cash or U.S. government securities, as collateral due to its use of futures contracts, forward currency contracts, interest rate swaps, credit default swaps and future delivery contracts. For futures contracts, interest rate swaps and credit default swaps, the fund pledges collateral for initial and variation margin by contract. For forward currency contracts, the fund either receives or pledges collateral based on the net gain or loss on unsettled forward
The Bond Fund of America | 27 |
currency contracts by counterparty. For future delivery contracts, the fund either receives or pledges collateral based on the net gain or loss on unsettled contracts by certain counterparties. The purpose of the collateral is to cover potential losses that could occur in the event that either party cannot meet its contractual obligation. Non-cash collateral pledged by the fund, if any, is disclosed in the fund’s investment portfolio, and cash collateral pledged by the fund, if any, is held in a segregated account with the fund’s custodian, which is reflected as pledged cash collateral in the fund’s statement of assets and liabilities.
Rights of offset — The fund has entered into enforceable master netting agreements with certain counterparties for forward currency contracts, where on any date amounts payable by each party to the other (in the same currency with respect to the same transaction) may be closed or offset by each party’s payment obligation. If an early termination date occurs under these agreements following an event of default or termination event, all obligations of each party to its counterparty are settled net through a single payment in a single currency (“close-out netting”). For financial reporting purposes, the fund does not offset financial assets and financial liabilities that are subject to these master netting arrangements in the statement of assets and liabilities.
The following table presents the fund’s forward currency contracts by counterparty that are subject to master netting agreements but that are not offset in the fund’s statement of assets and liabilities. The net amount column shows the impact of offsetting on the fund’s statement of assets and liabilities as of June 30, 2020, if close-out netting was exercised (dollars in thousands):
| | Gross amounts recognized in the | | | Gross amounts not offset in the statement of assets and liabilities and subject to a master netting agreement | | | | |
Counterparty | | statement of assets and liabilities | | | Available to offset | | | Non-cash collateral* | | | Cash collateral* | | | Net amount | |
Assets: | | | | | | | | | | | | | | | | | | | | |
Barclays Bank PLC | | $ | 221 | | | $ | — | | | $ | — | | | $ | (221 | ) | | $ | — | |
Citibank | | | 52 | | | | — | | | | — | | | | — | | | | 52 | |
Goldman Sachs | | | 8 | | | | (8 | ) | | | — | | | | — | | | | — | |
HSBC Bank | | | 37 | | | | — | | | | — | | | | — | | | | 37 | |
JPMorgan Chase | | | 218 | | | | (218 | ) | | | — | | | | — | | | | — | |
Morgan Stanley | | | 1,966 | | | | — | | | | — | | | | (1,966 | ) | | | — | |
Total | | $ | 2,502 | | | $ | (226 | ) | | $ | — | | | $ | (2,187 | ) | | $ | 89 | |
Liabilities: | | | | | | | | | | | | | | | | | | | | |
Bank of New York Mellon | | $ | 1 | | | $ | — | | | $ | — | | | $ | — | | | $ | 1 | |
Goldman Sachs | | | 8 | | | | (8 | ) | | | — | | | | — | | | | — | |
JPMorgan Chase | | | 778 | | | | (218 | ) | | | (560 | ) | | | — | | | | — | |
Total | | $ | 787 | | | $ | (226 | ) | | $ | (560 | ) | | $ | — | | | $ | 1 | |
* | Collateral is shown on a settlement basis. |
28 | The Bond Fund of America |
6. Taxation and distributions
Federal income taxation — The fund complies with the requirements under Subchapter M of the Internal Revenue Code applicable to mutual funds and intends to distribute substantially all of its net taxable income and net capital gains each year. The fund is not subject to income taxes to the extent such distributions are made. Therefore, no federal income tax provision is required.
As of and during the period ended June 30, 2020, the fund did not have a liability for any unrecognized tax benefits. The fund recognizes interest and penalties, if any, related to unrecognized tax benefits as income tax expense in the statement of operations. During the period, the fund did not incur any significant interest or penalties.
The fund’s tax returns are not subject to examination by federal, state and, if applicable, non-U.S. tax authorities after the expiration of each jurisdiction’s statute of limitations, which is generally three years after the date of filing but can be extended in certain jurisdictions.
Non-U.S. taxation — Dividend and interest income are recorded net of non-U.S. taxes paid. The fund may file withholding tax reclaims in certain jurisdictions to recover a portion of amounts previously withheld. These reclaims are recorded when the amount is known and there are no significant uncertainties on collectability. Gains realized by the fund on the sale of securities in certain countries, if any, may be subject to non-U.S. taxes. If applicable, the fund records an estimated deferred tax liability based on unrealized gains to provide for potential non-U.S. taxes payable upon the sale of these securities.
Distributions — Distributions paid to shareholders are based on net investment income and net realized gains determined on a tax basis, which may differ from net investment income and net realized gains for financial reporting purposes. These differences are due primarily to different treatment for items such as currency gains and losses; short-term capital gains and losses; capital losses related to sales of certain securities within 30 days of purchase; cost of investments sold; paydowns on fixed-income securities and income on certain investments. The fiscal year in which amounts are distributed may differ from the year in which the net investment income and net realized gains are recorded by the fund for financial reporting purposes.
The components of distributable earnings on a tax basis are reported as of the fund’s most recent year-end. As of December 31, 2019, the components of distributable earnings on a tax basis were as follows (dollars in thousands):
Undistributed ordinary income | | $ | 14,800 | |
Post-October capital loss deferral* | | | (100,857 | ) |
* | This deferral is considered incurred in the subsequent year. |
The Bond Fund of America | 29 |
As of June 30, 2020, the tax basis unrealized appreciation (depreciation) and cost of investments were as follows (dollars in thousands):
Gross unrealized appreciation on investments | | $ | 2,838,002 | |
Gross unrealized depreciation on investments | | | (456,692 | ) |
Net unrealized appreciation on investments | | | 2,381,310 | |
Cost of investments | | | 65,438,199 | |
Distributions paid or accrued were characterized for tax purposes as follows (dollars in thousands):
| | Six months ended June 30, 2020 | | | Year ended December 31, 2019 | |
Share class | | Ordinary income | | | Long-term capital gains | | | Total distributions paid or accrued | | | Ordinary income | | | Long-term capital gains | | | Total distributions paid or accrued | |
Class A | | $ | 274,103 | | | $ | — | | | $ | 274,103 | | | $ | 632,256 | | | $ | 167,895 | | | $ | 800,151 | |
Class C | | | 6,123 | | | | — | | | | 6,123 | | | | 17,166 | | | | 5,689 | | | | 22,855 | |
Class T | | | — | † | | | — | | | | — | † | | | — | † | | | — | † | | | — | † |
Class F-1 | | | 11,467 | | | | — | | | | 11,467 | | | | 25,778 | | | | 7,064 | | | | 32,842 | |
Class F-2 | | | 129,099 | | | | — | | | | 129,099 | | | | 249,463 | | | | 68,160 | | | | 317,623 | |
Class F-3 | | | 31,748 | | | | — | | | | 31,748 | | | | 62,414 | | | | 16,004 | | | | 78,418 | |
Class 529-A | | | 13,580 | | | | — | | | | 13,580 | | | | 31,813 | | | | 8,485 | | | | 40,298 | |
Class 529-C | | | 1,313 | | | | — | | | | 1,313 | | | | 3,956 | | | | 1,302 | | | | 5,258 | |
Class 529-E | | | 494 | | | | — | | | | 494 | | | | 1,217 | | | | 336 | | | | 1,553 | |
Class 529-T | | | — | † | | | — | | | | — | † | | | — | † | | | — | † | | | — | † |
Class 529-F-1 | | | 1,653 | | | | — | | | | 1,653 | | | | 3,663 | | | | 923 | | | | 4,586 | |
Class R-1 | | | 274 | | | | — | | | | 274 | | | | 733 | | | | 282 | | | | 1,015 | |
Class R-2 | | | 3,163 | | | | — | | | | 3,163 | | | | 8,916 | | | | 2,975 | | | | 11,891 | |
Class R-2E | | | 337 | | | | — | | | | 337 | | | | 772 | | | | 238 | | | | 1,010 | |
Class R-3 | | | 6,410 | | | | — | | | | 6,410 | | | | 16,313 | | | | 4,599 | | | | 20,912 | |
Class R-4 | | | 6,644 | | | | — | | | | 6,644 | | | | 16,214 | | | | 4,131 | | | | 20,345 | |
Class R-5E | | | 682 | | | | — | | | | 682 | | | | 880 | | | | 317 | | | | 1,197 | |
Class R-5 | | | 2,129 | | | | — | | | | 2,129 | | | | 5,548 | | | | 1,252 | | | | 6,800 | |
Class R-6 | | | 136,165 | | | | — | | | | 136,165 | | | | 313,911 | | | | 75,235 | | | | 389,146 | |
Total | | $ | 625,384 | | | $ | — | | | $ | 625,384 | | | $ | 1,391,013 | | | $ | 364,887 | | | $ | 1,755,900 | |
† | Amount less than one thousand. |
7. Fees and transactions with related parties
CRMC, the fund’s investment adviser, is the parent company of American Funds Distributors®, Inc. (“AFD”), the principal underwriter of the fund’s shares, and American Funds Service Company® (“AFS”), the fund’s transfer agent. CRMC, AFD and AFS are considered related parties to the fund.
30 | The Bond Fund of America |
Investment advisory services — The fund has an investment advisory and service agreement with CRMC that provides for monthly fees accrued daily. At the beginning of the year, these fees were based on a series of decreasing annual rates beginning with 0.300% on the first $60 million of daily net assets and decreasing to 0.110% on such assets in excess of $36 billion. The agreement also provides for monthly fees, accrued daily, based on a series of decreasing rates beginning with 2.25% on the first $8,333,333 of the fund’s monthly gross income and decreasing to 1.75% on such income in excess of $41,666,667. On March 4, 2020, the fund’s board of trustees approved an amended investment advisory and service agreement effective May 1, 2020, decreasing the annual rate to 0.107% on daily net assets in excess of $52 billion. CRMC voluntarily reduced investment advisory services fees to the approved rate in advance of the effective date. For the six months ended June 30, 2020, total investment advisory services fees waived by CRMC were $9,000. As a result, the fee of $46,340,000 shown on the statement of operations was reduced to $46,331,000, both of which were equivalent to an annualized rate of 0.172% of average daily net assets.
Class-specific fees and expenses — Expenses that are specific to individual share classes are accrued directly to the respective share class. The principal class-specific fees and expenses are further described below:
Distribution services — The fund has plans of distribution for all share classes, except Class F-2, F-3, R-5E, R-5 and R-6 shares. Under the plans, the board of trustees approves certain categories of expenses that are used to finance activities primarily intended to sell fund shares and service existing accounts. The plans provide for payments, based on an annualized percentage of average daily net assets, ranging from 0.25% to 1.00% as noted in this section. In some cases, the board of trustees has limited the amounts that may be paid to less than the maximum allowed by the plans. All share classes with a plan may use up to 0.25% of average daily net assets to pay service fees, or to compensate AFD for paying service fees, to firms that have entered into agreements with AFD to provide certain shareholder services. The remaining amounts available to be paid under each plan are paid to dealers to compensate them for their sales activities.
Share class | | Currently approved limits | | Plan limits |
Class A | | | 0.25 | % | | | 0.25 | % |
Class 529-A | | | 0.25 | | | | 0.50 | |
Classes C, 529-C and R-1 | | | 1.00 | | | | 1.00 | |
Class R-2 | | | 0.75 | | | | 1.00 | |
Class R-2E | | | 0.60 | | | | 0.85 | |
Classes 529-E and R-3 | | | 0.50 | | | | 0.75 | |
Classes T, F-1, 529-T, 529-F-1 and R-4 | | | 0.25 | | | | 0.50 | |
For Class A and 529-A shares, distribution-related expenses include the reimbursement of dealer and wholesaler commissions paid by AFD for certain shares sold without a sales charge. These share classes reimburse AFD for amounts billed within the prior 15 months but only to the extent that the overall annual
The Bond Fund of America | 31 |
expense limits are not exceeded. As of June 30, 2020, unreimbursed expenses subject to reimbursement totaled $9,276,000 for Class A shares. There were no unreimbursed expenses subject to reimbursement for Class 529-A shares.
Transfer agent services — The fund has a shareholder services agreement with AFS under which the fund compensates AFS for providing transfer agent services to each of the fund’s share classes. These services include recordkeeping, shareholder communications and transaction processing. In addition, the fund reimburses AFS for amounts paid to third parties for performing transfer agent services on behalf of fund shareholders.
Administrative services — The fund has an administrative services agreement with CRMC under which the fund compensates CRMC for providing administrative services to all share classes. Administrative services are provided by CRMC and its affiliates to help assist third parties providing non-distribution services to fund shareholders. These services include providing in-depth information on the fund and market developments that impact fund investments. Administrative services also include, but are not limited to, coordinating, monitoring and overseeing third parties that provide services to fund shareholders. The agreement provides the fund the ability to charge an administrative services fee at the annual rate of 0.05% of the daily net assets attributable to each share class of the fund. Currently the fund pays CRMC an administrative services fee at the annual rate of 0.03% of daily net assets attributable to each share class of the fund for CRMC’s provision of administrative services.
529 plan services — Each 529 share class is subject to service fees to compensate the Virginia College Savings Plan (“Virginia529”) for its oversight and administration of the CollegeAmerica 529 college savings plan. The fee is based on the combined net assets invested in Class 529 and ABLE shares of the American Funds. Class ABLE shares are offered on other American Funds by Virginia529 through ABLEAmerica®, a tax-advantaged savings program for individuals with disabilities. The quarterly fee is based on a series of decreasing annual rates beginning with 0.09% on the first $20 billion of the combined net assets invested in the American Funds and decreasing to 0.03% on such assets in excess of $100 billion. The fee for any given calendar quarter is accrued and calculated on the basis of the average net assets of Class 529 and ABLE shares of the American Funds for the last month of the prior calendar quarter. The fee is included in other expenses in the fund’s statement of operations. Virginia529 is not considered a related party to the fund.
32 | The Bond Fund of America |
For the six months ended June 30, 2020, class-specific expenses under the agreements were as follows (dollars in thousands):
| | Distribution | | | Transfer agent | | | Administrative | | | 529 plan | |
Share class | | services | | | services | | | services | | | services | |
Class A | | | $30,903 | | | | $14,735 | | | | $3,708 | | | | Not applicable | |
Class C | | | 4,099 | | | | 493 | | | | 124 | | | | Not applicable | |
Class T | | | — | | | | — | * | | | — | * | | | Not applicable | |
Class F-1 | | | 1,312 | | | | 768 | | | | 157 | | | | Not applicable | |
Class F-2 | | | Not applicable | | | | 5,915 | | | | 1,574 | | | | Not applicable | |
Class F-3 | | | Not applicable | | | | 108 | | | | 372 | | | | Not applicable | |
Class 529-A | | | 1,500 | | | | 699 | | | | 188 | | | | $389 | |
Class 529-C | | | 898 | | | | 104 | | | | 28 | | | | 57 | |
Class 529-E | | | 121 | | | | 12 | | | | 7 | | | | 15 | |
Class 529-T | | | — | | | | — | * | | | — | * | | | — | * |
Class 529-F-1 | | | — | | | | 76 | | | | 21 | | | | 43 | |
Class R-1 | | | 187 | | | | 24 | | | | 6 | | | | Not applicable | |
Class R-2 | | | 1,597 | | | | 748 | | | | 64 | | | | Not applicable | |
Class R-2E | | | 113 | | | | 40 | | | | 6 | | | | Not applicable | |
Class R-3 | | | 1,657 | | | | 512 | | | | 99 | | | | Not applicable | |
Class R-4 | | | 741 | | | | 296 | | | | 89 | | | | Not applicable | |
Class R-5E | | | Not applicable | | | | 41 | | | | 8 | | | | Not applicable | |
Class R-5 | | | Not applicable | | | | 44 | | | | 25 | | | | Not applicable | |
Class R-6 | | | Not applicable | | | | 18 | | | | 1,585 | | | | Not applicable | |
Total class-specific expenses | | | $43,128 | | | | $24,633 | | | | $8,061 | | | | $504 | |
* | Amount less than one thousand. |
Trustees’ deferred compensation — Trustees who are unaffiliated with CRMC may elect to defer the cash payment of part or all of their compensation. These deferred amounts, which remain as liabilities of the fund, are treated as if invested in shares of the fund or other American Funds. These amounts represent general, unsecured liabilities of the fund and vary according to the total returns of the selected funds. Trustees’ compensation of $62,000 in the fund’s statement of operations reflects $76,000 in current fees (either paid in cash or deferred) and a net decrease of $14,000 in the value of the deferred amounts.
Affiliated officers and trustees — Officers and certain trustees of the fund are or may be considered to be affiliated with CRMC, AFD and AFS. No affiliated officers or trustees received any compensation directly from the fund.
Investment in CCF — The fund holds shares of CCF, an institutional prime money market fund managed by CRMC. CCF invests in high-quality, short-term money market instruments. CCF is used as the primary investment vehicle for the fund’s short-term investments. CCF shares are only available for purchase by CRMC, its affiliates, and other funds managed by CRMC or its affiliates, and are not available to the public. CRMC does not receive an investment advisory services fee from CCF.
The Bond Fund of America | 33 |
Security transactions with related funds — The fund purchased securities from, and sold securities to, other funds managed by CRMC (or funds managed by certain affiliates of CRMC) under procedures adopted by the fund’s board of trustees. The funds involved in such transactions are considered related by virtue of having a common investment adviser (or affiliated investment advisers), common trustees and/or common officers. Each transaction was executed at the current market price of the security and no brokerage commissions or fees were paid in accordance with Rule 17a-7 of the 1940 Act. During the six months ended June 30, 2020, the fund engaged in such purchase and sale transactions with related funds in the amounts of $342,711,000 and $298,802,000, respectively, which generated $5,918,000 of net realized losses from such sales.
Interfund lending — Pursuant to an exemptive order issued by the SEC, the fund, along with other CRMC-managed funds (or funds managed by certain affiliates of CRMC), may participate in an interfund lending program. The program provides an alternate credit facility that permits the funds to lend or borrow cash for temporary purposes directly to or from one another, subject to the conditions of the exemptive order. The fund did not lend or borrow cash through the interfund lending program at any time during the six months ended June 30, 2020.
34 | The Bond Fund of America |
8. Capital share transactions
Capital share transactions in the fund were as follows (dollars and shares in thousands):
| | Sales* | | | Reinvestments of distributions | | | Repurchases* | | | Net increase (decrease) | |
Share class | | Amount | | | Shares | | | Amount | | | Shares | | | Amount | | | Shares | | | Amount | | | Shares | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Six months ended June 30, 2020 |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Class A | | $ | 3,499,382 | | | | 258,590 | | | $ | 273,293 | | | | 20,016 | | | $ | (2,079,583 | ) | | | (154,359 | ) | | $ | 1,693,092 | | | | 124,247 | |
Class C | | | 192,881 | | | | 14,218 | | | | 6,431 | | | | 472 | | | | (147,313 | ) | | | (10,904 | ) | | | 51,999 | | | | 3,786 | |
Class T | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
Class F-1 | | | 283,945 | | | | 20,782 | | | | 11,712 | | | | 859 | | | | (190,001 | ) | | | (13,936 | ) | | | 105,656 | | | | 7,705 | |
Class F-2 | | | 4,004,088 | | | | 294,016 | | | | 127,396 | | | | 9,327 | | | | (1,955,646 | ) | | | (144,854 | ) | | | 2,175,838 | | | | 158,489 | |
Class F-3 | | | 991,006 | | | | 72,655 | | | | 31,378 | | | | 2,295 | | | | (414,336 | ) | | | (30,699 | ) | | | 608,048 | | | | 44,251 | |
Class 529-A | | | 188,302 | | | | 13,906 | | | | 13,791 | | | | 1,010 | | | | (111,742 | ) | | | (8,289 | ) | | | 90,351 | | | | 6,627 | |
Class 529-C | | | 26,749 | | | | 1,980 | | | | 1,362 | | | | 100 | | | | (30,660 | ) | | | (2,274 | ) | | | (2,549 | ) | | | (194 | ) |
Class 529-E | | | 8,172 | | | | 605 | | | | 496 | | | | 37 | | | | (5,585 | ) | | | (415 | ) | | | 3,083 | | | | 227 | |
Class 529-T | | | — | | | | — | | | | — | † | | | — | † | | | — | | | | — | | | | — | † | | | — | † |
Class 529-F-1 | | | 22,693 | | | | 1,673 | | | | 1,645 | | | | 121 | | | | (13,279 | ) | | | (985 | ) | | | 11,059 | | | | 809 | |
Class R-1 | | | 6,008 | | | | 443 | | | | 272 | | | | 20 | | | | (9,810 | ) | | | (730 | ) | | | (3,530 | ) | | | (267 | ) |
Class R-2 | | | 103,765 | | | | 7,676 | | | | 3,145 | | | | 230 | | | | (95,833 | ) | | | (7,111 | ) | | | 11,077 | | | | 795 | |
Class R-2E | | | 12,083 | | | | 895 | | | | 337 | | | | 25 | | | | (7,348 | ) | | | (542 | ) | | | 5,072 | | | | 378 | |
Class R-3 | | | 164,052 | | | | 12,129 | | | | 6,395 | | | | 468 | | | | (143,280 | ) | | | (10,636 | ) | | | 27,167 | | | | 1,961 | |
Class R-4 | | | 141,469 | | | | 10,451 | | | | 6,630 | | | | 485 | | | | (124,273 | ) | | | (9,233 | ) | | | 23,826 | | | | 1,703 | |
Class R-5E | | | 26,135 | | | | 1,943 | | | | 679 | | | | 50 | | | | (9,320 | ) | | | (692 | ) | | | 17,494 | | | | 1,301 | |
Class R-5 | | | 40,720 | | | | 2,999 | | | | 2,199 | | | | 161 | | | | (49,806 | ) | | | (3,717 | ) | | | (6,887 | ) | | | (557 | ) |
Class R-6 | | | 1,818,341 | | | | 133,089 | | | | 136,492 | | | | 9,998 | | | | (1,687,566) | | | | (125,998 | ) | | | 267,267 | | | | 17,089 | |
Total net increase (decrease) | | $ | 11,529,791 | | | | 848,050 | | | $ | 623,653 | | | | 45,674 | | | $ | (7,075,381 | ) | | | (525,374 | ) | | $ | 5,078,063 | | | | 368,350 | |
The Bond Fund of America | 35 |
| | Sales* | | | Reinvestments of distributions | | | Repurchases* | | | Net increase (decrease) | |
Share class | | Amount | | | Shares | | | Amount | | | Shares | | | Amount | | | Shares | | | Amount | | | Shares | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Year ended December 31, 2019 |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
Class A | | $ | 4,797,105 | | | | 366,940 | | | $ | 786,442 | | | | 60,160 | | | $ | (2,517,994 | ) | | | (193,496 | ) | | $ | 3,065,553 | | | | 233,604 | |
Class C | | | 202,675 | | | | 15,512 | | | | 22,117 | | | | 1,693 | | | | (295,471 | ) | | | (22,768 | ) | | | (70,679 | ) | | | (5,563 | ) |
Class T | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
Class F-1 | | | 338,338 | | | | 25,992 | | | | 31,497 | | | | 2,409 | | | | (168,855 | ) | | | (12,993 | ) | | | 200,980 | | | | 15,408 | |
Class F-2 | | | 4,586,576 | | | | 350,987 | | | | 307,948 | | | | 23,534 | | | | (1,440,771 | ) | | | (110,563 | ) | | | 3,453,753 | | | | 263,958 | |
Class F-3 | | | 1,004,030 | | | | 76,983 | | | | 77,435 | | | | 5,919 | | | | (414,597 | ) | | | (31,832 | ) | | | 666,868 | | | | 51,070 | |
Class 529-A | | | 287,536 | | | | 22,034 | | | | 39,969 | | | | 3,057 | | | | (198,383 | ) | | | (15,204 | ) | | | 129,122 | | | | 9,887 | |
Class 529-C | | | 48,225 | | | | 3,702 | | | | 5,190 | | | | 397 | | | | (72,148 | ) | | | (5,541 | ) | | | (18,733 | ) | | | (1,442 | ) |
Class 529-E | | | 12,228 | | | | 938 | | | | 1,543 | | | | 118 | | | | (11,992 | ) | | | (920 | ) | | | 1,779 | | | | 136 | |
Class 529-T | | | — | | | | — | | | | — | † | | | — | † | | | — | | | | — | | | | — | † | | | — | † |
Class 529-F-1 | | | 40,918 | | | | 3,137 | | | | 4,576 | | | | 350 | | | | (23,833 | ) | | | (1,825 | ) | | | 21,661 | | | | 1,662 | |
Class R-1 | | | 16,870 | | | | 1,285 | | | | 1,012 | | | | 78 | | | | (9,765 | ) | | | (747 | ) | | | 8,117 | | | | 616 | |
Class R-2 | | | 105,968 | | | | 8,141 | | | | 11,808 | | | | 904 | | | | (124,454 | ) | | | (9,575 | ) | | | (6,678 | ) | | | (530 | ) |
Class R-2E | | | 11,211 | | | | 861 | | | | 1,011 | | | | 77 | | | | (6,248 | ) | | | (476 | ) | | | 5,974 | | | | 462 | |
Class R-3 | | | 180,819 | | | | 13,861 | | | | 20,778 | | | | 1,590 | | | | (174,209 | ) | | | (13,372 | ) | | | 27,388 | | | | 2,079 | |
Class R-4 | | | 151,765 | | | | 11,648 | | | | 20,236 | | | | 1,548 | | | | (144,314 | ) | | | (11,094 | ) | | | 27,687 | | | | 2,102 | |
Class R-5E | | | 39,735 | | | | 3,031 | | | | 1,185 | | | | 90 | | | | (5,989 | ) | | | (457 | ) | | | 34,931 | | | | 2,664 | |
Class R-5 | | | 40,751 | | | | 3,129 | | | | 6,677 | | | | 511 | | | | (43,889 | ) | | | (3,367 | ) | | | 3,539 | | | | 273 | |
Class R-6 | | | 2,229,367 | | | | 171,665 | | | | 388,656 | | | | 29,727 | | | | (647,077 | ) | | | (49,572 | ) | | | 1,970,946 | | | | 151,820 | |
Total net increase (decrease) | | $ | 14,094,117 | | | | 1,079,846 | | | $ | 1,728,080 | | | | 132,162 | | | $ | (6,299,989 | ) | | | (483,802 | ) | | $ | 9,522,208 | | | | 728,206 | |
* | Includes exchanges between share classes of the fund. |
† | Amount less than one thousand. |
36 | The Bond Fund of America |
9. Investment transactions
The fund made purchases and sales of investment securities, excluding short-term securities and U.S. government obligations, if any, of $118,164,988,000 and $102,488,219,000, respectively, during the six months ended June 30, 2020.
The Bond Fund of America | 37 |
Financial highlights
| | | | | Income (loss) from investment operations1 |
Period ended | | Net asset value, beginning of period | | | Net investment income | | | Net gains (losses) on securities (both realized and unrealized) | | | Total from investment operations | |
Class A: | | | | | | | | | | | | |
6/30/20205,6 | | $ | 13.09 | | | $ | .12 | | | $ | .93 | | | $ | 1.05 | |
12/31/2019 | | | 12.57 | | | | .31 | | | | .69 | | | | 1.00 | |
12/31/2018 | | | 12.89 | | | | .30 | | | | (.32 | ) | | | (.02 | ) |
12/31/2017 | | | 12.72 | | | | .25 | | | | .16 | | | | .41 | |
12/31/2016 | | | 12.59 | | | | .23 | | | | .12 | | | | .35 | |
12/31/2015 | | | 12.81 | | | | .23 | | | | (.20 | ) | | | .03 | |
Class C: | | | | | | | | | | | | | | | | |
6/30/20205,6 | | | 13.09 | | | | .07 | | | | .93 | | | | 1.00 | |
12/31/2019 | | | 12.57 | | | | .21 | | | | .69 | | | | .90 | |
12/31/2018 | | | 12.89 | | | | .20 | | | | (.32 | ) | | | (.12 | ) |
12/31/2017 | | | 12.72 | | | | .15 | | | | .16 | | | | .31 | |
12/31/2016 | | | 12.59 | | | | .12 | | | | .12 | | | | .24 | |
12/31/2015 | | | 12.81 | | | | .13 | | | | (.20 | ) | | | (.07 | ) |
Class T: | | | | | | | | | | | | | | | | |
6/30/20205,6 | | | 13.09 | | | | .13 | | | | .93 | | | | 1.06 | |
12/31/2019 | | | 12.57 | | | | .34 | | | | .69 | | | | 1.03 | |
12/31/2018 | | | 12.89 | | | | .33 | | | | (.32 | ) | | | .01 | |
12/31/20175,11 | | | 12.81 | | | | .20 | | | | .07 | | | | .27 | |
Class F-1: | | | | | | | | | | | | | | | | |
6/30/20205,6 | | | 13.09 | | | | .12 | | | | .93 | | | | 1.05 | |
12/31/2019 | | | 12.57 | | | | .31 | | | | .69 | | | | 1.00 | |
12/31/2018 | | | 12.89 | | | | .29 | | | | (.32 | ) | | | (.03 | ) |
12/31/2017 | | | 12.72 | | | | .24 | | | | .16 | | | | .40 | |
12/31/2016 | | | 12.59 | | | | .22 | | | | .12 | | | | .34 | |
12/31/2015 | | | 12.81 | | | | .23 | | | | (.20 | ) | | | .03 | |
Class F-2: | | | | | | | | | | | | | | | | |
6/30/20205,6 | | | 13.09 | | | | .14 | | | | .93 | | | | 1.07 | |
12/31/2019 | | | 12.57 | | | | .35 | | | | .69 | | | | 1.04 | |
12/31/2018 | | | 12.89 | | | | .33 | | | | (.32 | ) | | | .01 | |
12/31/2017 | | | 12.72 | | | | .28 | | | | .16 | | | | .44 | |
12/31/2016 | | | 12.59 | | | | .26 | | | | .12 | | | | .38 | |
12/31/2015 | | | 12.81 | | | | .26 | | | | (.20 | ) | | | .06 | |
Class F-3: | | | | | | | | | | | | | | | | |
6/30/20205,6 | | | 13.09 | | | | .14 | | | | .93 | | | | 1.07 | |
12/31/2019 | | | 12.57 | | | | .36 | | | | .69 | | | | 1.05 | |
12/31/2018 | | | 12.89 | | | | .34 | | | | (.32 | ) | | | .02 | |
12/31/20175,12 | | | 12.74 | | | | .27 | | | | .14 | | | | .41 | |
38 | The Bond Fund of America |
Dividends and distributions | | | | | | | | | | | | | | | | | | | |
Dividends (from net investment income) | | | Distributions (from capital gains) | | | Total dividends and distributions | | | Net asset value, end of period | | | Total return2,3 | | | Net assets, end of period (in millions) | | | Ratio of expenses to average net assets before reimbursements/ waivers4 | | | Ratio of expenses to average net assets after reimbursements/ waivers3,4 | | | Ratio of net income to average net assets3 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
$ | (.15 | ) | | $ | — | | | $ | (.15 | ) | | $ | 13.99 | | | | 8.05 | %7 | | $ | 26,541 | | | | .59 | %8 | | | .59 | %8 | | | 1.84 | %8 |
| (.30 | ) | | | (.18 | ) | | | (.48 | ) | | | 13.09 | | | | 8.02 | | | | 23,197 | | | | .60 | | | | .60 | | | | 2.35 | |
| (.30 | ) | | | — | | | | (.30 | ) | | | 12.57 | | | | (.13 | ) | | | 19,352 | | | | .60 | | | | .60 | | | | 2.37 | |
| (.24 | ) | | | — | | | | (.24 | ) | | | 12.89 | | | | 3.21 | | | | 19,939 | | | | .60 | | | | .60 | | | | 1.91 | |
| (.22 | ) | | | — | | | | (.22 | ) | | | 12.72 | | | | 2.74 | | | | 19,437 | | | | .61 | | | | .61 | | | | 1.79 | |
| (.25 | ) | | | — | | | | (.25 | ) | | | 12.59 | | | | .23 | | | | 18,580 | | | | .60 | | | | .60 | | | | 1.81 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| (.10 | ) | | | — | | | | (.10 | ) | | | 13.99 | | | | 7.66 | 7 | | | 893 | | | | 1.33 | 8 | | | 1.33 | 8 | | | 1.10 | 8 |
| (.20 | ) | | | (.18 | ) | | | (.38 | ) | | | 13.09 | | | | 7.20 | | | | 786 | | | | 1.36 | | | | 1.36 | | | | 1.60 | |
| (.20 | ) | | | — | | | | (.20 | ) | | | 12.57 | | | | (.91 | ) | | | 825 | | | | 1.39 | | | | 1.39 | | | | 1.58 | |
| (.14 | ) | | | — | | | | (.14 | ) | | | 12.89 | | | | 2.40 | | | | 1,041 | | | | 1.40 | | | | 1.40 | | | | 1.11 | |
| (.11 | ) | | | — | | | | (.11 | ) | | | 12.72 | | | | 1.94 | | | | 1,276 | | | | 1.40 | | | | 1.40 | | | | 1.00 | |
| (.15 | ) | | | — | | | | (.15 | ) | | | 12.59 | | | | (.56 | ) | | | 1,361 | | | | 1.40 | | | | 1.40 | | | | 1.01 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| (.16 | ) | | | — | | | | (.16 | ) | | | 13.99 | | | | 8.17 | 7,9 | | | — | 10 | | | .36 | 8,9 | | | .36 | 8,9 | | | 2.05 | 8,9 |
| (.33 | ) | | | (.18 | ) | | | (.51 | ) | | | 13.09 | | | | 8.24 | 9 | | | — | 10 | | | .37 | 9 | | | .37 | 9 | | | 2.56 | 9 |
| (.33 | ) | | | — | | | | (.33 | ) | | | 12.57 | | | | .09 | 9 | | | — | 10 | | | .39 | 9 | | | .39 | 9 | | | 2.58 | 9 |
| (.19 | ) | | | — | | | | (.19 | ) | | | 12.89 | | | | 2.15 | 7,9 | | | — | 10 | | | .38 | 8,9 | | | .38 | 8,9 | | | 2.15 | 8,9 |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| (.15 | ) | | | — | | | | (.15 | ) | | | 13.99 | | | | 8.04 | 7 | | | 1,152 | | | | .61 | 8 | | | .61 | 8 | | | 1.81 | 8 |
| (.30 | ) | | | (.18 | ) | | | (.48 | ) | | | 13.09 | | | | 7.97 | | | | 977 | | | | .64 | | | | .64 | | | | 2.31 | |
| (.29 | ) | | | — | | | | (.29 | ) | | | 12.57 | | | | (.18 | ) | | | 745 | | | | .66 | | | | .66 | | | | 2.32 | |
| (.23 | ) | | | — | | | | (.23 | ) | | | 12.89 | | | | 3.17 | | | | 801 | | | | .65 | | | | .65 | | | | 1.86 | |
| (.21 | ) | | | — | | | | (.21 | ) | | | 12.72 | | | | 2.71 | | | | 757 | | | | .64 | | | | .64 | | | | 1.76 | |
| (.25 | ) | | | — | | | | (.25 | ) | | | 12.59 | | | | .21 | | | | 673 | | | | .63 | | | | .63 | | | | 1.78 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| (.17 | ) | | | — | | | | (.17 | ) | | | 13.99 | | | | 8.19 | 7 | | | 12,284 | | | | .33 | 8 | | | .33 | 8 | | | 2.09 | 8 |
| (.34 | ) | | | (.18 | ) | | | (.52 | ) | | | 13.09 | | | | 8.28 | | | | 9,415 | | | | .35 | | | | .35 | | | | 2.59 | |
| (.33 | ) | | | — | | | | (.33 | ) | | | 12.57 | | | | .14 | | | | 5,728 | | | | .34 | | | | .34 | | | | 2.65 | |
| (.27 | ) | | | — | | | | (.27 | ) | | | 12.89 | | | | 3.47 | | | | 4,067 | | | | .35 | | | | .35 | | | | 2.16 | |
| (.25 | ) | | | — | | | | (.25 | ) | | | 12.72 | | | | 3.00 | | | | 3,338 | | | | .36 | | | | .36 | | | | 2.03 | |
| (.28 | ) | | | — | | | | (.28 | ) | | | 12.59 | | | | .47 | | | | 1,521 | | | | .37 | | | | .37 | | | | 2.05 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| (.17 | ) | | | — | | | | (.17 | ) | | | 13.99 | | | | 8.24 | 7 | | | 2,984 | | | | .23 | 8 | | | .23 | 8 | | | 2.19 | 8 |
| (.35 | ) | | | (.18 | ) | | | (.53 | ) | | | 13.09 | | | | 8.40 | | | | 2,212 | | | | .25 | | | | .24 | | | | 2.70 | |
| (.34 | ) | | | — | | | | (.34 | ) | | | 12.57 | | | | .21 | | | | 1,483 | | | | .27 | | | | .27 | | | | 2.70 | |
| (.26 | ) | | | — | | | | (.26 | ) | | | 12.89 | | | | 3.25 | 7 | | | 2,061 | | | | .26 | 8 | | | .26 | 8 | | | 2.29 | 8 |
See end of table for footnotes.
The Bond Fund of America | 39 |
Financial highlights (continued)
| | | | | Income (loss) from investment operations1 |
Period ended | | Net asset value, beginning of period | | | Net investment income | | | Net gains (losses) on securities (both realized and unrealized) | | | Total from investment operations | |
Class 529-A: | | | | | | | | | | | | | | | | |
6/30/20205,6 | | $ | 13.09 | | | $ | .12 | | | $ | .93 | | | $ | 1.05 | |
12/31/2019 | | | 12.57 | | | | .30 | | | | .69 | | | | .99 | |
12/31/2018 | | | 12.89 | | | | .29 | | | | (.32 | ) | | | (.03 | ) |
12/31/2017 | | | 12.72 | | | | .24 | | | | .16 | | | | .40 | |
12/31/2016 | | | 12.59 | | | | .22 | | | | .12 | | | | .34 | |
12/31/2015 | | | 12.81 | | | | .22 | | | | (.20 | ) | | | .02 | |
Class 529-C: | | | | | | | | | | | | | | | | |
6/30/20205,6 | | | 13.09 | | | | .07 | | | | .93 | | | | 1.00 | |
12/31/2019 | | | 12.57 | | | | .21 | | | | .69 | | | | .90 | |
12/31/2018 | | | 12.89 | | | | .20 | | | | (.32 | ) | | | (.12 | ) |
12/31/2017 | | | 12.72 | | | | .14 | | | | .16 | | | | .30 | |
12/31/2016 | | | 12.59 | | | | .12 | | | | .12 | | | | .24 | |
12/31/2015 | | | 12.81 | | | | .12 | | | | (.20 | ) | | | (.08 | ) |
Class 529-E: | | | | | | | | | | | | | | | | |
6/30/20205,6 | | | 13.09 | | | | .10 | | | | .93 | | | | 1.03 | |
12/31/2019 | | | 12.57 | | | | .28 | | | | .69 | | | | .97 | |
12/31/2018 | | | 12.89 | | | | .27 | | | | (.32 | ) | | | (.05 | ) |
12/31/2017 | | | 12.72 | | | | .21 | | | | .16 | | | | .37 | |
12/31/2016 | | | 12.59 | | | | .19 | | | | .12 | | | | .31 | |
12/31/2015 | | | 12.81 | | | | .19 | | | | (.20 | ) | | | (.01 | ) |
Class 529-T: | | | | | | | | | | | | | | | | |
6/30/20205,6 | | | 13.09 | | | | .13 | | | | .93 | | | | 1.06 | |
12/31/2019 | | | 12.57 | | | | .33 | | | | .69 | | | | 1.02 | |
12/31/2018 | | | 12.89 | | | | .32 | | | | (.32 | ) | | | — | 13 |
12/31/20175,11 | | | 12.81 | | | | .20 | | | | .07 | | | | .27 | |
Class 529-F-1: | | | | | | | | | | | | | | | | |
6/30/20205,6 | | | 13.09 | | | | .13 | | | | .93 | | | | 1.06 | |
12/31/2019 | | | 12.57 | | | | .34 | | | | .69 | | | | 1.03 | |
12/31/2018 | | | 12.89 | | | | .32 | | | | (.32 | ) | | | — | 13 |
12/31/2017 | | | 12.72 | | | | .27 | | | | .16 | | | | .43 | |
12/31/2016 | | | 12.59 | | | | .25 | | | | .12 | | | | .37 | |
12/31/2015 | | | 12.81 | | | | .25 | | | | (.20 | ) | | | .05 | |
Class R-1: | | | | | | | | | | | | | | | | |
6/30/20205,6 | | | 13.09 | | | | .07 | | | | .93 | | | | 1.00 | |
12/31/2019 | | | 12.57 | | | | .21 | | | | .69 | | | | .90 | |
12/31/2018 | | | 12.89 | | | | .20 | | | | (.32 | ) | | | (.12 | ) |
12/31/2017 | | | 12.72 | | | | .15 | | | | .16 | | | | .31 | |
12/31/2016 | | | 12.59 | | | | .13 | | | | .12 | | | | .25 | |
12/31/2015 | | | 12.81 | | | | .13 | | | | (.20 | ) | | | (.07 | ) |
40 | The Bond Fund of America |
Dividends and distributions | | | | | | | | | | | | | | | | | | | |
Dividends (from net investment income) | | | Distributions (from capital gains) | | | Total dividends and distributions | | | Net asset value, end of period | | | Total return2,3 | | | Net assets, end of period (in millions) | | | Ratio of expenses to average net assets before reimbursements/ waivers4 | | | Ratio of expenses to average net assets after reimbursements/ waivers3,4 | | | Ratio of net income to average net assets3 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
$ | (.15 | ) | | $ | — | | | $ | (.15 | ) | | $ | 13.99 | | | | 8.03 | %7 | | $ | 1,347 | | | | .63 | %8 | | | .63 | %8 | | | 1.79 | %8 |
| (.29 | ) | | | (.18 | ) | | | (.47 | ) | | | 13.09 | | | | 7.95 | | | | 1,174 | | | | .66 | | | | .66 | | | | 2.29 | |
| (.29 | ) | | | — | | | | (.29 | ) | | | 12.57 | | | | (.21 | ) | | | 1,003 | | | | .69 | | | | .69 | | | | 2.29 | |
| (.23 | ) | | | — | | | | (.23 | ) | | | 12.89 | | | | 3.14 | | | | 1,022 | | | | .68 | | | | .68 | | | | 1.84 | |
| (.21 | ) | | | — | | | | (.21 | ) | | | 12.72 | | | | 2.66 | | | | 917 | | | | .69 | | | | .69 | | | | 1.71 | |
| (.24 | ) | | | — | | | | (.24 | ) | | | 12.59 | | | | .13 | | | | 898 | | | | .70 | | | | .70 | | | | 1.71 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| (.10 | ) | | | — | | | | (.10 | ) | | | 13.99 | | | | 7.63 | 7 | | | 190 | | | | 1.37 | 8 | | | 1.37 | 8 | | | 1.06 | 8 |
| (.20 | ) | | | (.18 | ) | | | (.38 | ) | | | 13.09 | | | | 7.16 | | | | 180 | | | | 1.40 | | | | 1.40 | | | | 1.56 | |
| (.20 | ) | | | — | | | | (.20 | ) | | | 12.57 | | | | (.94 | ) | | | 191 | | | | 1.43 | | | | 1.43 | | | | 1.55 | |
| (.13 | ) | | | — | | | | (.13 | ) | | | 12.89 | | | | 2.35 | | | | 232 | | | | 1.44 | | | | 1.44 | | | | 1.07 | |
| (.11 | ) | | | — | | | | (.11 | ) | | | 12.72 | | | | 1.88 | | | | 322 | | | | 1.45 | | | | 1.45 | | | | .95 | |
| (.14 | ) | | | — | | | | (.14 | ) | | | 12.59 | | | | (.63 | ) | | | 337 | | | | 1.46 | | | | 1.46 | | | | .95 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| (.13 | ) | | | — | | | | (.13 | ) | | | 13.99 | | | | 7.93 | 7 | | | 53 | | | | .81 | 8 | | | .81 | 8 | | | 1.61 | 8 |
| (.27 | ) | | | (.18 | ) | | | (.45 | ) | | | 13.09 | | | | 7.75 | | | | 46 | | | | .85 | | | | .85 | | | | 2.11 | |
| (.27 | ) | | | — | | | | (.27 | ) | | | 12.57 | | | | (.40 | ) | | | 43 | | | | .88 | | | | .88 | | | | 2.10 | |
| (.20 | ) | | | — | | | | (.20 | ) | | | 12.89 | | | | 2.93 | | | | 47 | | | | .88 | | | | .88 | | | | 1.63 | |
| (.18 | ) | | | — | | | | (.18 | ) | | | 12.72 | | | | 2.45 | | | | 48 | | | | .90 | | | | .90 | | | | 1.50 | |
| (.21 | ) | | | — | | | | (.21 | ) | | | 12.59 | | | | (.08 | ) | | | 48 | | | | .91 | | | | .91 | | | | 1.50 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| (.16 | ) | | | — | | | | (.16 | ) | | | 13.99 | | | | 8.14 | 7,9 | | | — | 10 | | | .41 | 8,9 | | | .41 | 8,9 | | | 2.00 | 8,9 |
| (.32 | ) | | | (.18 | ) | | | (.50 | ) | | | 13.09 | | | | 8.20 | 9 | | | — | 10 | | | .42 | 9 | | | .42 | 9 | | | 2.51 | 9 |
| (.32 | ) | | | — | | | | (.32 | ) | | | 12.57 | | | | .04 | 9 | | | — | 10 | | | .44 | 9 | | | .44 | 9 | | | 2.54 | 9 |
| (.19 | ) | | | — | | | | (.19 | ) | | | 12.89 | | | | 2.10 | 7,9 | | | — | 10 | | | .45 | 8,9 | | | .45 | 8,9 | | | 2.08 | 8,9 |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| (.16 | ) | | | — | | | | (.16 | ) | | | 13.99 | | | | 8.15 | 7 | | | 148 | | | | .39 | 8 | | | .39 | 8 | | | 2.03 | 8 |
| (.33 | ) | | | (.18 | ) | | | (.51 | ) | | | 13.09 | | | | 8.20 | | | | 128 | | | | .42 | | | | .42 | | | | 2.53 | |
| (.32 | ) | | | — | | | | (.32 | ) | | | 12.57 | | | | .03 | | | | 102 | | | | .44 | | | | .44 | | | | 2.54 | |
| (.26 | ) | | | — | | | | (.26 | ) | | | 12.89 | | | | 3.37 | | | | 88 | | | | .45 | | | | .45 | | | | 2.06 | |
| (.24 | ) | | | — | | | | (.24 | ) | | | 12.72 | | | | 2.89 | | | | 77 | | | | .46 | | | | .46 | | | | 1.94 | |
| (.27 | ) | | | — | | | | (.27 | ) | | | 12.59 | | | | .36 | | | | 71 | | | | .47 | | | | .47 | | | | 1.94 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| (.10 | ) | | | — | | | | (.10 | ) | | | 13.99 | | | | 7.65 | 7 | | | 38 | | | | 1.34 | 8 | | | 1.34 | 8 | | | 1.09 | 8 |
| (.20 | ) | | | (.18 | ) | | | (.38 | ) | | | 13.09 | | | | 7.21 | | | | 39 | | | | 1.35 | | | | 1.35 | | | | 1.61 | |
| (.20 | ) | | | — | | | | (.20 | ) | | | 12.57 | | | | (.89 | ) | | | 30 | | | | 1.37 | | | | 1.37 | | | | 1.60 | |
| (.14 | ) | | | — | | | | (.14 | ) | | | 12.89 | | | | 2.43 | | | | 34 | | | | 1.37 | | | | 1.37 | | | | 1.14 | |
| (.12 | ) | | | — | | | | (.12 | ) | | | 12.72 | | | | 1.97 | | | | 42 | | | | 1.37 | | | | 1.37 | | | | 1.03 | |
| (.15 | ) | | | — | | | | (.15 | ) | | | 12.59 | | | | (.53 | ) | | | 47 | | | | 1.36 | | | | 1.36 | | | | 1.05 | |
See end of table for footnotes.
The Bond Fund of America | 41 |
Financial highlights (continued)
| | | | | Income (loss) from investment operations1 |
Period ended | | Net asset value, beginning of period | | | Net investment income | | | Net gains (losses) on securities (both realized and unrealized) | | | Total from investment operations | |
Class R-2: | | | | | | | | | | | | | | | | |
6/30/20205,6 | | $ | 13.09 | | | $ | .07 | | | $ | .93 | | | $ | 1.00 | |
12/31/2019 | | | 12.57 | | | | .22 | | | | .69 | | | | .91 | |
12/31/2018 | | | 12.89 | | | | .20 | | | | (.32 | ) | | | (.12 | ) |
12/31/2017 | | | 12.72 | | | | .15 | | | | .16 | | | | .31 | |
12/31/2016 | | | 12.59 | | | | .13 | | | | .12 | | | | .25 | |
12/31/2015 | | | 12.81 | | | | .14 | | | | (.20 | ) | | | (.06 | ) |
Class R-2E: | | | | | | | | | | | | | | | | |
6/30/20205,6 | | | 13.09 | | | | .09 | | | | .93 | | | | 1.02 | |
12/31/2019 | | | 12.57 | | | | .25 | | | | .69 | | | | .94 | |
12/31/2018 | | | 12.89 | | | | .24 | | | | (.32 | ) | | | (.08 | ) |
12/31/2017 | | | 12.72 | | | | .19 | | | | .16 | | | | .35 | |
12/31/2016 | | | 12.59 | | | | .17 | | | | .12 | | | | .29 | |
12/31/2015 | | | 12.81 | | | | .18 | | | | (.19 | ) | | | (.01 | ) |
Class R-3: | | | | | | | | | | | | | | | | |
6/30/20205,6 | | | 13.09 | | | | .10 | | | | .93 | | | | 1.03 | |
12/31/2019 | | | 12.57 | | | | .27 | | | | .69 | | | | .96 | |
12/31/2018 | | | 12.89 | | | | .26 | | | | (.32 | ) | | | (.06 | ) |
12/31/2017 | | | 12.72 | | | | .21 | | | | .16 | | | | .37 | |
12/31/2016 | | | 12.59 | | | | .19 | | | | .12 | | | | .31 | |
12/31/2015 | | | 12.81 | | | | .19 | | | | (.20 | ) | | | (.01 | ) |
Class R-4: | | | | | | | | | | | | | | | | |
6/30/20205,6 | | | 13.09 | | | | .12 | | | | .93 | | | | 1.05 | |
12/31/2019 | | | 12.57 | | | | .31 | | | | .69 | | | | 1.00 | |
12/31/2018 | | | 12.89 | | | | .30 | | | | (.32 | ) | | | (.02 | ) |
12/31/2017 | | | 12.72 | | | | .25 | | | | .16 | | | | .41 | |
12/31/2016 | | | 12.59 | | | | .23 | | | | .12 | | | | .35 | |
12/31/2015 | | | 12.81 | | | | .23 | | | | (.20 | ) | | | .03 | |
Class R-5E: | | | | | | | | | | | | | | | | |
6/30/20205,6 | | | 13.09 | | | | .13 | | | | .93 | | | | 1.06 | |
12/31/2019 | | | 12.57 | | | | .34 | | | | .69 | | | | 1.03 | |
12/31/2018 | | | 12.89 | | | | .33 | | | | (.32 | ) | | | .01 | |
12/31/2017 | | | 12.72 | | | | .27 | | | | .16 | | | | .43 | |
12/31/2016 | | | 12.59 | | | | .25 | | | | .12 | | | | .37 | |
12/31/20155,14 | | | 12.66 | | | | .03 | | | | (.06 | ) | | | (.03 | ) |
Class R-5: | | | | | | | | | | | | | | | | |
6/30/20205,6 | | | 13.09 | | | | .14 | | | | .93 | | | | 1.07 | |
12/31/2019 | | | 12.57 | | | | .35 | | | | .69 | | | | 1.04 | |
12/31/2018 | | | 12.89 | | | | .34 | | | | (.32 | ) | | | .02 | |
12/31/2017 | | | 12.72 | | | | .29 | | | | .16 | | | | .45 | |
12/31/2016 | | | 12.59 | | | | .27 | | | | .12 | | | | .39 | |
12/31/2015 | | | 12.81 | | | | .27 | | | | (.20 | ) | | | .07 | |
42 | The Bond Fund of America |
Dividends and distributions | | | | | | | | | | | | | | | | | | | |
Dividends (from net investment income) | | | Distributions (from capital gains) | | | Total dividends and distributions | | | Net asset value, end of period | | | Total return2,3 | | | Net assets, end of period (in millions) | | | Ratio of expenses to average net assets before reimbursements/ waivers4 | | | Ratio of expenses to average net assets after reimbursements/ waivers3,4 | | | Ratio of net income to average net assets3 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
$ | (.10 | ) | | $ | — | | | $ | (.10 | ) | | $ | 13.99 | | | | 7.66 | %7 | | $ | 449 | | | | 1.32 | %8 | | | 1.32 | %8 | | | 1.11 | %8 |
| (.21 | ) | | | (.18 | ) | | | (.39 | ) | | | 13.09 | | | | 7.22 | | | | 410 | | | | 1.34 | | | | 1.34 | | | | 1.61 | |
| (.20 | ) | | | — | | | | (.20 | ) | | | 12.57 | | | | (.88 | ) | | | 400 | | | | 1.36 | | | | 1.36 | | | | 1.61 | |
| (.14 | ) | | | — | | | | (.14 | ) | | | 12.89 | | | | 2.44 | | | | 456 | | | | 1.36 | | | | 1.36 | | | | 1.15 | |
| (.12 | ) | | | — | | | | (.12 | ) | | | 12.72 | | | | 1.98 | | | | 514 | | | | 1.35 | | | | 1.35 | | | | 1.05 | |
| (.16 | ) | | | — | | | | (.16 | ) | | | 12.59 | | | | (.51 | ) | | | 545 | | | | 1.34 | | | | 1.34 | | | | 1.07 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| (.12 | ) | | | — | | | | (.12 | ) | | | 13.99 | | | | 7.82 | 7 | | | 41 | | | | 1.03 | 8 | | | 1.03 | 8 | | | 1.40 | 8 |
| (.24 | ) | | | (.18 | ) | | | (.42 | ) | | | 13.09 | | | | 7.53 | | | | 33 | | | | 1.05 | | | | 1.05 | | | | 1.90 | |
| (.24 | ) | | | — | | | | (.24 | ) | | | 12.57 | | | | (.59 | ) | | | 26 | | | | 1.07 | | | | 1.07 | | | | 1.92 | |
| (.18 | ) | | | — | | | | (.18 | ) | | | 12.89 | | | | 2.75 | | | | 20 | | | | 1.06 | | | | 1.06 | | | | 1.48 | |
| (.16 | ) | | | — | | | | (.16 | ) | | | 12.72 | | | | 2.31 | | | | 9 | | | | 1.05 | | | | 1.05 | | | | 1.36 | |
| (.21 | ) | | | — | | | | (.21 | ) | | | 12.59 | | | | (.07 | ) | | | 1 | | | | .96 | | | | .96 | | | | 1.41 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| (.13 | ) | | | — | | | | (.13 | ) | | | 13.99 | | | | 7.90 | 7 | | | 704 | | | | .87 | 8 | | | .87 | 8 | | | 1.56 | 8 |
| (.26 | ) | | | (.18 | ) | | | (.44 | ) | | | 13.09 | | | | 7.70 | | | | 633 | | | | .89 | | | | .89 | | | | 2.06 | |
| (.26 | ) | | | — | | | | (.26 | ) | | | 12.57 | | | | (.43 | ) | | | 582 | | | | .91 | | | | .91 | | | | 2.06 | |
| (.20 | ) | | | — | | | | (.20 | ) | | | 12.89 | | | | 2.90 | | | | 622 | | | | .91 | | | | .91 | | | | 1.61 | |
| (.18 | ) | | | — | | | | (.18 | ) | | | 12.72 | | | | 2.43 | | | | 651 | | | | .91 | | | | .91 | | | | 1.49 | |
| (.21 | ) | | | — | | | | (.21 | ) | | | 12.59 | | | | (.08 | ) | | | 662 | | | | .91 | | | | .91 | | | | 1.50 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| (.15 | ) | | | — | | | | (.15 | ) | | | 13.99 | | | | 8.06 | 7 | | | 630 | | | | .57 | 8 | | | .57 | 8 | | | 1.86 | 8 |
| (.30 | ) | | | (.18 | ) | | | (.48 | ) | | | 13.09 | | | | 8.03 | | | | 567 | | | | .59 | | | | .59 | | | | 2.37 | |
| (.30 | ) | | | — | | | | (.30 | ) | | | 12.57 | | | | (.13 | ) | | | 518 | | | | .61 | | | | .61 | | | | 2.37 | |
| (.24 | ) | | | — | | | | (.24 | ) | | | 12.89 | | | | 3.22 | | | | 583 | | | | .60 | | | | .60 | | | | 1.91 | |
| (.22 | ) | | | — | | | | (.22 | ) | | | 12.72 | | | | 2.75 | | | | 556 | | | | .60 | | | | .60 | | | | 1.80 | |
| (.25 | ) | | | — | | | | (.25 | ) | | | 12.59 | | | | .24 | | | | 512 | | | | .59 | | | | .59 | | | | 1.82 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| (.16 | ) | | | — | | | | (.16 | ) | | | 13.99 | | | | 8.17 | 7 | | | 65 | | | | .36 | 8 | | | .36 | 8 | | | 2.05 | 8 |
| (.33 | ) | | | (.18 | ) | | | (.51 | ) | | | 13.09 | | | | 8.25 | | | | 43 | | | | .37 | | | | .37 | | | | 2.53 | |
| (.33 | ) | | | — | | | | (.33 | ) | | | 12.57 | | | | .09 | | | | 8 | | | | .40 | | | | .40 | | | | 2.63 | |
| (.26 | ) | | | — | | | | (.26 | ) | | | 12.89 | | | | 3.39 | | | | — | 10 | | | .42 | | | | .40 | | | | 2.11 | |
| (.24 | ) | | | — | | | | (.24 | ) | | | 12.72 | | | | 2.89 | | | | — | 10 | | | .47 | | | | .47 | | | | 1.91 | |
| (.04 | ) | | | — | | | | (.04 | ) | | | 12.59 | | | | (.24 | )7 | | | — | 10 | | | .05 | 7 | | | .05 | 7 | | | .22 | 7 |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| (.17 | ) | | | — | | | | (.17 | ) | | | 13.99 | | | | 8.22 | 7 | | | 178 | | | | .27 | 8 | | | .27 | 8 | | | 2.16 | 8 |
| (.34 | ) | | | (.18 | ) | | | (.52 | ) | | | 13.09 | | | | 8.35 | | | | 173 | | | | .29 | | | | .29 | | | | 2.67 | |
| (.34 | ) | | | — | | | | (.34 | ) | | | 12.57 | | | | .17 | | | | 163 | | | | .31 | | | | .31 | | | | 2.67 | |
| (.28 | ) | | | — | | | | (.28 | ) | | | 12.89 | | | | 3.52 | | | | 176 | | | | .30 | | | | .30 | | | | 2.21 | |
| (.26 | ) | | | — | | | | (.26 | ) | | | 12.72 | | | | 3.05 | | | | 149 | | | | .31 | | | | .31 | | | | 2.13 | |
| (.29 | ) | | | — | | | | (.29 | ) | | | 12.59 | | | | .54 | | | | 206 | | | | .30 | | | | .30 | | | | 2.11 | |
See end of table for footnotes.
The Bond Fund of America | 43 |
Financial highlights (continued)
| | | | | Income (loss) from investment operations1 |
Period ended | | Net asset value, beginning of period | | | Net investment income | | | Net gains (losses) on securities (both realized and unrealized) | | | Total from investment operations | |
Class R-6: | | | | | | | | | | | | | | | | |
6/30/20205,6 | | $ | 13.09 | | | $ | .14 | | | $ | .93 | | | $ | 1.07 | |
12/31/2019 | | | 12.57 | | | | .36 | | | | .69 | | | | 1.05 | |
12/31/2018 | | | 12.89 | | | | .34 | | | | (.32 | ) | | | .02 | |
12/31/2017 | | | 12.72 | | | | .29 | | | | .16 | | | | .45 | |
12/31/2016 | | | 12.59 | | | | .27 | | | | .12 | | | | .39 | |
12/31/2015 | | | 12.81 | | | | .28 | | | | (.20 | ) | | | .08 | |
| | Six months ended June 30, | | Year ended December 31, |
Portfolio turnover rate for all share classes15,16 | | 20205,6,7 | | 2019 | | 2018 | | 2017 | | 2016 | | 2015 |
Excluding mortgage dollar roll transactions | | | 72 | % | | | 127 | % | | | 121 | % | | | 170 | % | | | 168 | % | | | 151 | % |
Including mortgage dollar roll transactions | | | 247 | % | | | 286 | % | | | 356 | % | | | 379 | % | | | 363 | % | | | 401 | % |
See notes to financial statements.
44 | The Bond Fund of America |
Dividends and distributions | | | | | | | | | | | | | | | | | | | |
Dividends (from net investment income) | | | Distributions (from capital gains) | | | Total dividends and distributions | | | Net asset value, end of period | | | Total return2,3 | | | Net assets, end of period (in millions) | | | Ratio of expenses to average net assets before reimbursements/ waivers4 | | | Ratio of expenses to average net assets after reimbursements/ waivers3,4 | | | Ratio of net income to average net assets3 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
$ | (.17 | ) | | $ | — | | | $ | (.17 | ) | | $ | 13.99 | | | | 8.25 | %7 | | $ | 11,395 | | | | .22 | %8 | | | .22 | %8 | | | 2.21 | %8 |
| (.35 | ) | | | (.18 | ) | | | (.53 | ) | | | 13.09 | | | | 8.40 | | | | 10,434 | | | | .24 | | | | .24 | | | | 2.72 | |
| (.34 | ) | | | — | | | | (.34 | ) | | | 12.57 | | | | .22 | | | | 8,116 | | | | .26 | | | | .26 | | | | 2.73 | |
| (.28 | ) | | | — | | | | (.28 | ) | | | 12.89 | | | | 3.58 | | | | 6,351 | | | | .25 | | | | .25 | | | | 2.27 | |
| (.26 | ) | | | — | | | | (.26 | ) | | | 12.72 | | | | 3.11 | | | | 3,849 | | | | .25 | | | | .25 | | | | 2.15 | |
| (.30 | ) | | | — | | | | (.30 | ) | | | 12.59 | | | | .58 | | | | 2,710 | | | | .25 | | | | .25 | | | | 2.16 | |
1 | Based on average shares outstanding. |
2 | Total returns exclude any applicable sales charges, including contingent deferred sales charges. |
3 | This column reflects the impact, if any, of certain reimbursements/waivers from CRMC. During some of the periods shown, CRMC reimbursed a portion of the fund’s transfer agent services fees for certain share classes. In addition, during one of the periods shown, the fund’s transfer agent waived a portion of the fund’s transfer agent services fees for Class F-3 shares. |
4 | Ratios do not include expenses of any Central Funds. The fund indirectly bears its proportionate share of the expenses of any Central Funds. |
5 | Based on operations for a period that is less than a full year. |
6 | Unaudited. |
7 | Not annualized. |
8 | Annualized. |
9 | All or a significant portion of assets in this class consisted of seed capital invested by CRMC and/or its affiliates. Fees for distribution services are not charged or accrued on these seed capital assets. If such fees were paid by the fund on seed capital assets, fund expenses would have been higher and net income and total return would have been lower. |
10 | Amount less than $1 million. |
11 | Class T and 529-T shares began investment operations on April 7, 2017. |
12 | Class F-3 shares began investment operations on January 27, 2017. |
13 | Amount less than $.01. |
14 | Class R-5E shares began investment operations on November 20, 2015. |
15 | Rates do not include the fund’s portfolio activity with respect to any Central Funds. |
16 | Refer to Note 5 for more information on mortgage dollar rolls. |
The Bond Fund of America | 45 |
As a fund shareholder, you incur two types of costs: (1) transaction costs, such as initial sales charges on purchase payments and contingent deferred sales charges on redemptions (loads), and (2) ongoing costs, including management fees, distribution and service (12b-1) fees, and other expenses. This example is intended to help you understand your ongoing costs (in dollars) of investing in the fund so you can compare these costs with the ongoing costs of investing in other mutual funds. The example is based on an investment of $1,000 invested at the beginning of the period and held for the entire six-month period (January 1, 2020, through June 30, 2020).
Actual expenses:
The first line of each share class in the table on the following page provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading titled “Expenses paid during period” to estimate the expenses you paid on your account during this period.
Hypothetical example for comparison purposes:
The second line of each share class in the table on the following page provides information about hypothetical account values and hypothetical expenses based on the actual expense ratio for the share class and an assumed rate of return of 5.00% per year before expenses, which is not the actual return of the share class. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the fund and other funds. To do so, compare this 5.00% hypothetical example with the 5.00% hypothetical examples that appear in the shareholder reports of the other funds.
Notes:
Retirement plan participants may be subject to certain fees charged by the plan sponsor, and Class F-1, F-2, F-3 and 529-F-1 shareholders may be subject to fees charged by financial intermediaries, typically ranging from 0.75% to 1.50% of assets annually depending on services offered. You can estimate the impact of these fees by adding the amount of the fees to the total estimated expenses you paid on your account during the period as calculated above. In addition, your ending account value would be lower by the amount of these fees.
Note that the expenses shown in the table on the following page are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as sales charges (loads). Therefore, the second line of each share class in the table is useful in comparing ongoing costs only and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.
46 | The Bond Fund of America |
| | Beginning account value 1/1/2020 | | | Ending account value 6/30/2020 | | | Expenses paid during period* | | | Annualized expense ratio | |
Class A – actual return | | $ | 1,000.00 | | | $ | 1,080.50 | | | $ | 3.05 | | | | .59 | % |
Class A – assumed 5% return | | | 1,000.00 | | | | 1,021.93 | | | | 2.97 | | | | .59 | |
Class C – actual return | | | 1,000.00 | | | | 1,076.57 | | | | 6.87 | | | | 1.33 | |
Class C – assumed 5% return | | | 1,000.00 | | | | 1,018.25 | | | | 6.67 | | | | 1.33 | |
Class T – actual return | | | 1,000.00 | | | | 1,081.72 | | | | 1.86 | | | | .36 | |
Class T – assumed 5% return | | | 1,000.00 | | | | 1,023.07 | | | | 1.81 | | | | .36 | |
Class F-1 – actual return | | | 1,000.00 | | | | 1,080.36 | | | | 3.16 | | | | .61 | |
Class F-1 – assumed 5% return | | | 1,000.00 | | | | 1,021.83 | | | | 3.07 | | | | .61 | |
Class F-2 – actual return | | | 1,000.00 | | | | 1,081.86 | | | | 1.71 | | | | .33 | |
Class F-2 – assumed 5% return | | | 1,000.00 | | | | 1,023.22 | | | | 1.66 | | | | .33 | |
Class F-3 – actual return | | | 1,000.00 | | | | 1,082.41 | | | | 1.19 | | | | .23 | |
Class F-3 – assumed 5% return | | | 1,000.00 | | | | 1,023.72 | | | | 1.16 | | | | .23 | |
Class 529-A – actual return | | | 1,000.00 | | | | 1,080.27 | | | | 3.26 | | | | .63 | |
Class 529-A – assumed 5% return | | | 1,000.00 | | | | 1,021.73 | | | | 3.17 | | | | .63 | |
Class 529-C – actual return | | | 1,000.00 | | | | 1,076.32 | | | | 7.07 | | | | 1.37 | |
Class 529-C – assumed 5% return | | | 1,000.00 | | | | 1,018.05 | | | | 6.87 | | | | 1.37 | |
Class 529-E – actual return | | | 1,000.00 | | | | 1,079.29 | | | | 4.19 | | | | .81 | |
Class 529-E – assumed 5% return | | | 1,000.00 | | | | 1,020.84 | | | | 4.07 | | | | .81 | |
Class 529-T – actual return | | | 1,000.00 | | | | 1,081.40 | | | | 2.12 | | | | .41 | |
Class 529-T – assumed 5% return | | | 1,000.00 | | | | 1,022.82 | | | | 2.06 | | | | .41 | |
Class 529-F-1 – actual return | | | 1,000.00 | | | | 1,081.52 | | | | 2.02 | | | | .39 | |
Class 529-F-1 – assumed 5% return | | | 1,000.00 | | | | 1,022.92 | | | | 1.96 | | | | .39 | |
Class R-1 – actual return | | | 1,000.00 | | | | 1,076.49 | | | | 6.92 | | | | 1.34 | |
Class R-1 – assumed 5% return | | | 1,000.00 | | | | 1,018.20 | | | | 6.72 | | | | 1.34 | |
Class R-2 – actual return | | | 1,000.00 | | | | 1,076.61 | | | | 6.82 | | | | 1.32 | |
Class R-2 – assumed 5% return | | | 1,000.00 | | | | 1,018.30 | | | | 6.62 | | | | 1.32 | |
Class R-2E – actual return | | | 1,000.00 | | | | 1,078.18 | | | | 5.32 | | | | 1.03 | |
Class R-2E – assumed 5% return | | | 1,000.00 | | | | 1,019.74 | | | | 5.17 | | | | 1.03 | |
Class R-3 – actual return | | | 1,000.00 | | | | 1,078.99 | | | | 4.50 | | | | .87 | |
Class R-3 – assumed 5% return | | | 1,000.00 | | | | 1,020.54 | | | | 4.37 | | | | .87 | |
Class R-4 – actual return | | | 1,000.00 | | | | 1,080.62 | | | | 2.95 | | | | .57 | |
Class R-4 – assumed 5% return | | | 1,000.00 | | | | 1,022.03 | | | | 2.87 | | | | .57 | |
Class R-5E – actual return | | | 1,000.00 | | | | 1,081.68 | | | | 1.86 | | | | .36 | |
Class R-5E – assumed 5% return | | | 1,000.00 | | | | 1,023.07 | | | | 1.81 | | | | .36 | |
Class R-5 – actual return | | | 1,000.00 | | | | 1,082.18 | | | | 1.40 | | | | .27 | |
Class R-5 – assumed 5% return | | | 1,000.00 | | | | 1,023.52 | | | | 1.36 | | | | .27 | |
Class R-6 – actual return | | | 1,000.00 | | | | 1,082.46 | | | | 1.14 | | | | .22 | |
Class R-6 – assumed 5% return | | | 1,000.00 | | | | 1,023.77 | | | | 1.11 | | | | .22 | |
* | The “expenses paid during period” are equal to the “annualized expense ratio,” multiplied by the average account value over the period, multiplied by the number of days in the period, and divided by 366 (to reflect the one-half year period). |
The Bond Fund of America | 47 |
Approval of Investment Advisory and Service Agreement
The fund’s board has approved the continuation of the fund’s Investment Advisory and Service Agreement (the “agreement”) with Capital Research and Management Company (“CRMC”) for an additional one-year term through April 30, 2021. The agreement was amended to add an additional advisory fee breakpoints if and when the fund’s net assets exceed $52 billion. The board approved the agreement following the recommendation of the fund’s Contracts Committee (the “committee”), which is composed of all the fund’s independent board members. The board and the committee determined in the exercise of their business judgment that the fund’s advisory fee structure was fair and reasonable in relation to the services provided, and that approving the agreement was in the best interests of the fund and its shareholders.
In reaching this decision, the board and the committee took into account their interaction with CRMC as well as information furnished to them throughout the year and otherwise provided to them, as well as information prepared specifically in connection with their review of the agreement, and were advised by their independent counsel with respect to the matters considered. They considered the following factors, among others, but did not identify any single issue or particular piece of information that, in isolation, was the controlling factor, and each board and committee member did not necessarily attribute the same weight to each factor.
1. Nature, extent and quality of services
The board and the committee considered the depth and quality of CRMC’s investment management process, including its global research capabilities; the experience, capability and integrity of its senior management and other personnel; the low turnover rates of its key personnel; the overall financial strength and stability of CRMC and the Capital Group organization; the resources and systems CRMC devotes to investment management (the manner in which the fund’s assets are managed, including liquidity management), financial, investment operations, compliance, trading, proxy voting, shareholder communications, and other services; and the ongoing evolution of CRMC’s organizational structure designed to maintain and strengthen these qualities. The board and the committee also considered the nature, extent and quality of administrative and shareholder services provided by CRMC to the fund under the agreement and other agreements, as well as the benefits to fund shareholders from investing in a fund that is part of a large family of funds. The board considered the risks assumed by CRMC in providing services to the fund, including operational, business, financial, reputational, regulatory and litigation risks. The board and the committee concluded that the nature, extent and quality of the services provided by CRMC have benefited and should continue to benefit the fund and its shareholders.
2. Investment results
The board and the committee considered the investment results of the fund in light of its objective. They compared the fund’s investment results with those of other funds
48 | The Bond Fund of America |
(including funds that currently form the basis of the Lipper index for the category in which the fund is included), and data such as relevant market and fund indexes over various periods (including the fund’s lifetime) through September 30, 2019. They generally placed greater emphasis on longer term periods. On the basis of this evaluation and the board’s and the committee’s ongoing review of investment results, and considering the relative market conditions during certain of the reporting periods, the board and the committee concluded that the fund’s investment results have been satisfactory for renewal of the agreement, and that CRMC’s record in managing the fund indicated that its continued management should benefit the fund and its shareholders.
3. Advisory fees and total expenses
The board and the committee compared the advisory fees and total expense levels of the fund to those of other relevant funds. They observed that the fund’s advisory fees and expenses were competitive with those of other similar funds included in the comparable Lipper category. The board and the committee also considered the breakpoint discounts in the fund’s advisory fee structure that reduce the level of fees charged by CRMC to the fund as fund assets increase. In addition, they reviewed information regarding the effective advisory fees charged to non-mutual fund clients by CRMC and its affiliates. They noted that, to the extent there were differences between the advisory fees paid by the fund and the advisory fees paid by those clients, the differences appropriately reflected the investment, operational, regulatory and market differences between advising the fund and the other clients. The board and the committee concluded that the fund’s cost structure was fair and reasonable in relation to the services provided, as well as the risks assumed by the adviser, and that the fund’s shareholders receive reasonable value in return for the advisory fees and other amounts paid to CRMC by the fund.
4. Ancillary benefits
The board and the committee considered a variety of other benefits that CRMC and its affiliates receive as a result of CRMC’s relationship with the fund and other American Funds, including fees for administrative services provided to certain share classes; fees paid to CRMC’s affiliated transfer agent; sales charges and distribution fees received and retained by the fund’s principal underwriter, an affiliate of CRMC; and possible ancillary benefits to CRMC and its institutional management affiliates in managing other investment vehicles. The board and the committee reviewed CRMC’s portfolio trading practices, noting that through December 31, 2018, CRMC benefited from research obtained with commissions from portfolio transactions made on behalf of the fund, and since that time has undertaken to bear the cost of obtaining such research. The board and the committee took these ancillary benefits into account in evaluating the reasonableness of the advisory fees and other amounts paid to CRMC by the fund.
The Bond Fund of America | 49 |
5. Adviser financial information
The board and the committee reviewed information regarding CRMC’s costs of providing services to the American Funds, including personnel, systems and resources of investment, compliance, trading, accounting and other administrative operations. They considered CRMC’s costs and related cost allocation methodology as well as its track record of investing in technology, infrastructure and staff to maintain and expand services and capabilities, respond to industry and regulatory developments, and attract and retain qualified personnel. They noted information regarding the compensation structure for CRMC’s investment professionals. They reviewed information on the profitability of the investment adviser and its affiliates. The board and the committee also compared CRMC’s profitability and compensation data to the reported results and data of several large, publicly held investment management companies. The board and the committee noted the competitiveness and cyclicality of both the mutual fund industry and the capital markets, and the importance in that environment of CRMC’s long-term profitability for maintaining its independence, company culture and management continuity. They further considered the breakpoint discounts in the fund’s advisory fee structure and CRMC’s sharing of potential economies of scale, or efficiencies, through breakpoints and other fee reductions and costs voluntarily absorbed. The board and the committee concluded that the fund’s advisory fee structure reflected a reasonable sharing of benefits between CRMC and the fund’s shareholders.
50 | The Bond Fund of America |
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The Bond Fund of America | 51 |
Office of the fund
333 South Hope Street
Los Angeles, CA 90071-1406
Investment adviser
Capital Research and Management Company
333 South Hope Street
Los Angeles, CA 90071-1406
Transfer agent for shareholder accounts
American Funds Service Company
(Write to the address near you.)
P.O. Box 6007
Indianapolis, IN 46206-6007
P.O. Box 2280
Norfolk, VA 23501-2280
Custodian of assets
JPMorgan Chase Bank
270 Park Avenue
New York, NY 10017-2070
Counsel
Morgan, Lewis & Bockius LLP
One Federal Street
Boston, MA 02110-1726
Independent registered public accounting firm
Deloitte & Touche LLP
695 Town Center Drive
Suite 1000
Costa Mesa, CA 92626-7188
Principal underwriter
American Funds Distributors, Inc.
333 South Hope Street
Los Angeles, CA 90071-1406
52 | The Bond Fund of America |
Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the fund prospectus and summary prospectus, which can be obtained from your financial professional and should be read carefully before investing. You may also call American Funds Service Company (AFS) at (800) 421-4225 or visit the Capital Group website at capitalgroup.com.
“American Funds Proxy Voting Procedures and Principles” — which describes how we vote proxies relating to portfolio securities — is available on our website or upon request by calling AFS. The fund files its proxy voting record with the U.S. Securities and Exchange Commission (SEC) for the 12 months ended June 30 by August 31. The proxy voting record is available free of charge on the SEC website at sec.gov and on our website.
A complete June 30, 2020, portfolio of The Bond Fund of America’s investments is available free of charge by calling AFS or visiting the SEC website (where it is part of Form N-CSR).
The Bond Fund of America files a complete list of its portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form NPORT-P. This filing is available free of charge on the SEC website. Additionally, the list of portfolio holdings is available by calling AFS.
This report is for the information of shareholders of The Bond Fund of America, but it also may be used as sales literature when preceded or accompanied by the current prospectus or summary prospectus, which gives details about charges, expenses, investment objectives and operating policies of the fund. If used as sales material after September 30, 2020, this report must be accompanied by an American Funds statistical update for the most recently completed calendar quarter.
Bloomberg® is a trademark of Bloomberg Finance L.P. (collectively with its affiliates, “Bloomberg”). Barclays® is a trademark of Barclays Bank Plc (collectively with its affiliates, “Barclays”), used under license. Neither Bloomberg nor Barclays approves or endorses this material, guarantees the accuracy or completeness of any information herein and, to the maximum extent allowed by law, neither shall have any liability or responsibility for injury or damages arising in connection therewith.
American Funds Distributors, Inc., member FINRA.
The Capital Advantage®
Since 1931, Capital Group, home of American Funds, has helped investors pursue long-term investment success. Our consistent approach — in combination with The Capital SystemSM — has resulted in superior outcomes.
| Aligned with investor success |
| We base our decisions on a long-term perspective, which we believe aligns our goals with the interests of our clients. Our portfolio managers average 28 years of investment industry experience, including 22 years at our company, reflecting a career commitment to our long-term approach.1 |
| |
| The Capital System |
| The Capital System combines individual accountability with teamwork. Funds using The Capital System are divided into portions that are managed independently by investment professionals with diverse backgrounds, ages and investment approaches. An extensive global research effort is the backbone of our system. |
| |
| American Funds’ superior outcomes |
| Equity funds have beaten their Lipper peer indexes in 92% of 10-year periods and 99% of 20-year periods.2 Fixed income funds have helped investors achieve diversification through attention to correlation between bonds and equities.3 Fund management fees have been among the lowest in the industry.4 |
| |
| 1 | Investment industry experience as of December 31, 2019. |
| 2 | Based on Class F-2 share results for rolling periods through December 31, 2019. Periods covered are the shorter of the fund’s lifetime or since the comparable Lipper index inception date (except Capital Income Builder and SMALLCAP World Fund, for which the Lipper average was used). Expenses differ for each share class, so results will vary. |
| 3 | Based on Class F-2 share results as of December 31, 2019. Fifteen of the 17 fixed income American Funds that have been in existence for the three-year period showed a three-year correlation below 0.2. Standard & Poor’s 500 Composite Index was used as an equity market proxy. Correlation based on monthly total returns. Correlation is a statistical measure of how two securities move in relation to each other. A correlation ranges from –1 to 1. A positive correlation close to 1 implies that as one security moves, either up or down, the other security will move in “lockstep,” in the same direction. A negative correlation close to –1 indicates that the securities have moved in the opposite direction. |
| 4 | On average, our management fees were in the lowest quintile 65% of the time, based on the 20-year period ended December 31, 2019, versus comparable Lipper categories, excluding funds of funds. |
Class F-2 shares were first offered on August 1, 2008. Class F-2 share results prior to the date of first sale are hypothetical based on the results of the original share class of the fund without a sales charge, adjusted for typical estimated expenses. Results for certain funds with an inception date after August 1, 2008, also include hypothetical returns because those funds’ Class F-2 shares sold after the funds’ date of first offering. Please see capitalgroup.com for more information on specific expense adjustments and the actual dates of first sale.
All Capital Group trademarks mentioned are owned by The Capital Group Companies, Inc., an affiliated company or fund. All other company and product names mentioned are the property of their respective companies.
![](https://capedge.com/proxy/N-CSRS/0000051931-20-000748/image_004.jpg)
ITEM 2 – Code of Ethics
Not applicable for filing of semi-annual reports to shareholders.
ITEM 3 – Audit Committee Financial Expert
Not applicable for filing of semi-annual reports to shareholders.
ITEM 4 – Principal Accountant Fees and Services
Not applicable for filing of semi-annual reports to shareholders.
ITEM 5 – Audit Committee of Listed Registrants
Not applicable to this Registrant, insofar as the Registrant is not a listed issuer as defined in Rule 10A-3 under the Securities Exchange Act of 1934.
ITEM 6 – Schedule of Investments
![](https://capedge.com/proxy/N-CSRS/0000051931-20-000748/image_005.jpg)
The Bond Fund of America®
Investment portfolio
June 30, 2020
unaudited
Bonds, notes & other debt instruments 94.12% Corporate bonds & notes 34.04% Financials 7.91% | Principal amount (000) | Value (000) |
ACE INA Holdings Inc. 2.30% 2020 | $13,345 | $13,410 |
ACE INA Holdings Inc. 2.875% 2022 | 1,585 | 1,667 |
ACE INA Holdings Inc. 3.35% 2026 | 100 | 114 |
ACE INA Holdings Inc. 4.35% 2045 | 1,465 | 1,914 |
AerCap Holdings NV 6.50% 2025 | 4,854 | 5,091 |
Allstate Corp. 3.85% 2049 | 9,000 | 10,880 |
Ally Financial Inc. 5.80% 2025 | 6,400 | 7,153 |
Ally Financial Inc. 8.00% 2031 | 10,769 | 13,694 |
Ally Financial Inc. 8.00% 2031 | 5,630 | 7,277 |
American Express Co. 3.00% 2024 | 20,000 | 21,664 |
American International Group, Inc. 2.50% 2025 | 8,500 | 9,004 |
American International Group, Inc. 3.90% 2026 | 2,625 | 2,967 |
American International Group, Inc. 3.40% 2030 | 50,370 | 54,676 |
American International Group, Inc. 4.80% 2045 | 1,150 | 1,400 |
American International Group, Inc. 4.375% 2050 | 39,597 | 45,569 |
Australia & New Zealand Banking Group Ltd. 2.625% 2022 | 15,000 | 15,634 |
AXA Equitable Holdings, Inc. 3.90% 2023 | 5,575 | 5,970 |
AXA Equitable Holdings, Inc. 5.00% 2048 | 13,935 | 15,893 |
Banco Nacional de Comercio Exterior SNC 3.80% 2026 (UST Yield Curve Rate T Note Constant Maturity 5-year + 3.00% on 8/11/2021)1,2 | 1,850 | 1,810 |
Banco Santander México, SA, Institución de Banca Múltiple, Grupo Financiero Santander México 5.375% 20251 | 7,500 | 8,222 |
Bangkok Bank PCL 3.733% 2034 (UST Yield Curve Rate T Note Constant Maturity 5-year + 1.90% on 9/25/2029)2 | 8,965 | 8,580 |
Bank Mandiri (Persero) Tbk PT 4.75% 2025 | 2,880 | 3,058 |
Bank of America Corp. 2.738% 2022 (3-month USD-LIBOR + 0.37% on 1/23/2021)2 | 21,000 | 21,237 |
Bank of America Corp. 3.55% 2024 (3-month USD-LIBOR + 0.78% on 3/5/2023)2 | 6,984 | 7,466 |
Bank of America Corp. 4.20% 2024 | 2,475 | 2,748 |
Bank of America Corp. 2.456% 2025 (3-month USD-LIBOR + 0.87% on 10/22/2024)2 | 6,813 | 7,172 |
Bank of America Corp. 3.458% 2025 (3-month USD-LIBOR + 0.97% on 3/15/2024)2 | 10,000 | 10,852 |
Bank of America Corp. 1.319% 2026 (USD-SOFR + 1.15% on 6/19/2025)2 | 91,800 | 92,127 |
Bank of America Corp. 3.419% 2028 (3-month USD-LIBOR + 1.04% on 12/20/2027)2 | 16,859 | 18,787 |
Bank of America Corp. 2.496% 2031 (3-month USD-LIBOR + 0.99% on 2/13/2030)2 | 16,995 | 17,837 |
Bank of America Corp. 2.592% 2031 (USD-SOFR + 2.15% on 4/29/2030)2 | 65,779 | 69,729 |
Bank of America Corp. 3.946% 2049 (3-month USD-LIBOR + 1.19% on 1/23/2048)2 | 270 | 327 |
Bank of America Corp. 4.083% 2051 (3-month USD-LIBOR + 3.15% on 3/20/2050)2 | 26,141 | 32,771 |
Bank of Montreal, subordinated, 3.803% (USD Semi Annual 30/360 (vs. 3-month USD-LIBOR) + 1.432% on 12/15/2027)1,2 | 1,950 | 2,100 |
Bank of Nova Scotia 2.50% 2021 | 17,500 | 17,700 |
Bank of Nova Scotia 2.70% 2026 | 8,190 | 8,965 |
Barclays Bank PLC 3.65% 2025 | 2,000 | 2,173 |
Barclays Bank PLC 4.95% 2047 | 5,000 | 6,581 |
Berkshire Hathaway Finance Corp. 4.20% 2048 | 21,490 | 27,311 |
Berkshire Hathaway Finance Corp. 4.25% 2049 | 3,000 | 3,850 |
Berkshire Hathaway Inc. 3.125% 2026 | 4,100 | 4,597 |
Berkshire Hathaway Inc. 4.50% 2043 | 1,500 | 1,997 |
The Bond Fund of America — Page 1 of 58
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds & notes (continued) Financials (continued) | Principal amount (000) | Value (000) |
BNP Paribas 3.50% 20231 | $27,000 | $28,601 |
BNP Paribas 3.80% 20241 | 39,000 | 42,271 |
BNP Paribas 2.819% 2025 (3-month USD-LIBOR + 1.111% on 11/19/2024)1,2 | 5,050 | 5,292 |
BNP Paribas 3.375% 20251 | 25,675 | 27,786 |
BNP Paribas 2.219% 2026 (USD-SOFR + 2.074% on 6/9/2025)1,2 | 27,900 | 28,537 |
Capital One Financial Corp. 4.25% 2025 | 17,500 | 19,685 |
Charles Schwab Corp., junior subordinated, 5.375% (UST Yield Curve Rate T Note Constant Maturity 5-year + 4.971% on 6/1/2025)3 | 3,750 | 4,016 |
Citigroup Inc. 2.35% 2021 | 16,500 | 16,821 |
Citigroup Inc. 2.70% 2021 | 13,500 | 13,721 |
Citigroup Inc. 2.90% 2021 | 13,500 | 13,915 |
Citigroup Inc. 3.106% 2026 (USD-SOFR + 2.842% on 3/8/2026)2 | 33,214 | 35,674 |
Citigroup Inc. 4.60% 2026 | 4,175 | 4,770 |
Citigroup Inc. 3.668% 20282 | 2,225 | 2,482 |
Citigroup Inc. 2.976% 2030 (USD-SOFR + 1.422% on 11/5/2029)2 | 10,633 | 11,322 |
Citigroup Inc. 2.572% 2031 (USD-SOFR + 2.107% on 6/3/2030)2 | 130,924 | 135,485 |
Citigroup Inc. 4.412% 2031 (USD-SOFR + 3.914% on 3/31/2030)2 | 36,875 | 43,665 |
Citigroup Inc., Series A, junior subordinated, 5.95% (3-month USD-LIBOR + 4.068% on 1/30/2023)2 | 13,195 | 13,112 |
Commonwealth Bank of Australia 3.61% 2034 (UST Yield Curve Rate T Note Constant Maturity 5-year+ 2.05% on 9/12/2029)1,2 | 14,375 | 15,322 |
Cooperatieve Rabobank UA 2.75% 2023 | 17,000 | 17,922 |
Cooperatieve Rabobank UA 2.625% 20241 | 10,900 | 11,589 |
Credit Acceptance Corp. 6.625% 2026 | 1,488 | 1,501 |
Crédit Agricole SA 3.375% 20221 | 10,250 | 10,614 |
Crédit Agricole SA 3.75% 20231 | 21,000 | 22,491 |
Crédit Agricole SA 3.25% 20241 | 6,200 | 6,665 |
Crédit Agricole SA 4.375% 20251 | 10,030 | 11,108 |
Crédit Agricole SA 1.907% 2026 (USD-SOFR + 1.676% on 6/16/2025)1,2 | 15,750 | 15,985 |
Credit Suisse AG (New York Branch) 1.00% 2023 | 29,775 | 29,951 |
Credit Suisse AG (New York Branch) 2.95% 2025 | 22,025 | 23,908 |
Credit Suisse Group AG 3.45% 2021 | 11,250 | 11,518 |
Credit Suisse Group AG 2.997% 2023 (3-month USD-LIBOR + 1.20% on 12/14/2022)1,2 | 20,250 | 21,095 |
Credit Suisse Group AG 3.80% 2023 | 29,264 | 31,538 |
Credit Suisse Group AG 2.593% 2025 (USD-SOFR + 1.56% on 9/11/2024)1,2 | 3,100 | 3,208 |
Credit Suisse Group AG 2.193% 2026 (USD-SOFR + 2.044% on 6/5/2025)1,2 | 14,950 | 15,154 |
Credit Suisse Group AG 3.869% 2029 (3-month USD-LIBOR + 1.41% on 1/12/2028)1,2 | 8,385 | 9,262 |
Credit Suisse Group AG 4.194% 20311,2 | 57,919 | 66,231 |
Danske Bank AS 2.00% 20211 | 20,260 | 20,580 |
Danske Bank AS 2.70% 20221 | 13,475 | 13,915 |
Danske Bank AS 3.875% 20231 | 15,165 | 16,094 |
Deutsche Bank AG 2.70% 2020 | 13,000 | 13,003 |
Deutsche Bank AG 3.15% 2021 | 32,737 | 32,899 |
Deutsche Bank AG 3.375% 2021 | 2,100 | 2,119 |
Deutsche Bank AG 4.25% 2021 | 36,725 | 37,143 |
Deutsche Bank AG 4.25% 2021 | 850 | 873 |
Deutsche Bank AG 3.30% 2022 | 4,055 | 4,151 |
Deutsche Bank AG 5.00% 2022 | 4,675 | 4,882 |
Deutsche Bank AG 3.95% 2023 | 11,197 | 11,637 |
Deutsche Bank AG 3.70% 2024 | 15,250 | 15,914 |
Deutsche Bank AG 3.70% 2024 | 6,250 | 6,541 |
Deutsche Bank AG 3.961% 2025 (USD-SOFR + 2.581% on 11/26/2024)2 | 45,957 | 48,261 |
Deutsche Bank AG 4.10% 2026 | 16,415 | 17,387 |
Deutsche Bank AG 4.10% 2026 | 3,022 | 3,198 |
DNB Bank ASA 2.375% 20211 | 22,700 | 23,117 |
The Bond Fund of America — Page 2 of 58
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds & notes (continued) Financials (continued) | Principal amount (000) | Value (000) |
Fifth Third Bancorp 1.625% 2023 | $1,175 | $1,206 |
Fifth Third Bancorp 2.55% 2027 | 9,000 | 9,637 |
Five Corners Funding Trust II 2.85% 20301 | 2,800 | 2,891 |
GE Capital Funding, LLC 4.05% 20271 | 33,522 | 35,414 |
GE Capital Funding, LLC 4.40% 20301 | 61,580 | 64,105 |
Goldman Sachs Group, Inc. 2.905% 2023 (3-month USD-LIBOR + 0.99% on 7/24/2022)2 | 14,747 | 15,333 |
Goldman Sachs Group, Inc. 3.272% 2025 (3-month USD-LIBOR + 1.201% on 9/29/2024)2 | 11,401 | 12,298 |
Goldman Sachs Group, Inc. 3.50% 2025 | 7,824 | 8,588 |
Goldman Sachs Group, Inc. (3-month USD-LIBOR + 1.17%) 1.562% 20263 | 5,975 | 5,935 |
Goldman Sachs Group, Inc. 3.814% 2029 (3-month USD-LIBOR + 1.158% on 4/23/2028)2 | 10,080 | 11,401 |
Goldman Sachs Group, Inc. 2.60% 2030 | 3,000 | 3,136 |
Goldman Sachs Group, Inc. 3.80% 2030 | 86,543 | 98,920 |
Groupe BPCE SA 2.75% 20231 | 8,600 | 9,020 |
Groupe BPCE SA 5.70% 20231 | 30,476 | 34,113 |
Groupe BPCE SA 5.15% 20241 | 25,098 | 28,040 |
Groupe BPCE SA 4.50% 20251 | 7,795 | 8,522 |
Hartford Financial Services Group, Inc. 2.80% 2029 | 10,850 | 11,508 |
Hartford Financial Services Group, Inc. 3.60% 2049 | 1,750 | 1,861 |
HSBC Holdings PLC 4.125% 20201 | 9,453 | 9,493 |
HSBC Holdings PLC 2.633% 2025 (3-month USD-LIBOR + 1.14% on 11/7/2024)2 | 18,500 | 19,196 |
HSBC Holdings PLC 2.099% 2026 (USD-SOFR + 1.929% on 6/4/2025)2 | 43,810 | 44,296 |
HSBC Holdings PLC 3.973% 2030 (3-month USD-LIBOR + 1.61% on 5/22/2029)2 | 37,900 | 42,095 |
HSBC Holdings PLC 4.95% 2030 | 3,150 | 3,779 |
HSBC Holdings PLC 2.848% 20312 | 42,987 | 44,053 |
HSBK (Europe) BV 7.25% 20211 | 3,710 | 3,814 |
Icahn Enterprises Finance Corp. 6.25% 2022 | 5,940 | 5,968 |
Intesa Sanpaolo SpA 3.125% 20221 | 17,025 | 17,356 |
Intesa Sanpaolo SpA 3.375% 20231 | 39,966 | 41,135 |
Intesa Sanpaolo SpA 3.25% 20241 | 5,600 | 5,726 |
Intesa Sanpaolo SpA 5.017% 20241 | 116,668 | 119,610 |
Intesa Sanpaolo SpA 5.71% 20261 | 24,105 | 25,565 |
Intesa Sanpaolo SpA 3.875% 20271 | 10,275 | 10,611 |
Intesa Sanpaolo SpA 3.875% 20281 | 4,974 | 5,140 |
Jefferies Financial Group Inc. 5.50% 2023 | 2,975 | 3,224 |
JPMorgan Chase & Co. 2.40% 2021 | 17,500 | 17,800 |
JPMorgan Chase & Co. 2.55% 2021 | 26,400 | 26,731 |
JPMorgan Chase & Co. 1.514% 2024 (USD-SOFR + 1.455% on 6/1/2023)2 | 13,000 | 13,216 |
JPMorgan Chase & Co. 3.875% 2024 | 485 | 538 |
JPMorgan Chase & Co. 4.023% 2024 (3-month USD-LIBOR + 1.00% on 12/5/2023)2 | 5,000 | 5,512 |
JPMorgan Chase & Co. 2.301% 2025 (USD-SOFR + 1.16% on 10/15/2024)2 | 51,319 | 53,791 |
JPMorgan Chase & Co. 2.005% 2026 (USD-SOFR + 1.585% on 3/13/2025)2 | 127,305 | 131,990 |
JPMorgan Chase & Co. 2.083% 2026 (USD-SOFR + 1.85% on 4/22/2025)2 | 4,715 | 4,898 |
JPMorgan Chase & Co. 2.182% 2028 (USD-SOFR + 1.89% on 6/1/2027)2 | 14,050 | 14,552 |
JPMorgan Chase & Co. 3.54% 2028 (3-month USD-LIBOR + 1.38% on 5/1/2027)2 | 1,060 | 1,184 |
JPMorgan Chase & Co. 2.739% 2030 (USD-SOFR + 1.51% on 10/15/2029)2 | 22,637 | 24,301 |
JPMorgan Chase & Co. 2.522% 2031 (USD-SOFR + 2.04% on 4/22/2030)2 | 91,786 | 97,147 |
JPMorgan Chase & Co. 3.109% 2041 (USD-SOFR + 2.46% on 4/22/2040)2 | 6,000 | 6,483 |
JPMorgan Chase & Co. 3.109% 2051 (USD-SOFR + 3.109% on 4/22/2050)2 | 6,085 | 6,581 |
Kasikornbank PC HK 3.343% 20312 | 3,035 | 2,952 |
Lloyds Banking Group PLC 2.907% 2023 (3-month USD-LIBOR + 0.81% on 11/7/2022)2 | 16,500 | 17,187 |
Lloyds Banking Group PLC 4.05% 2023 | 14,200 | 15,455 |
Lloyds Banking Group PLC 3.87% 2025 (UST Yield Curve Rate T Note Constant Maturity 1-year + 3.50% on 7/9/2024)2 | 13,460 | 14,660 |
Lloyds Banking Group PLC 4.582% 2025 | 5,143 | 5,716 |
The Bond Fund of America — Page 3 of 58
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds & notes (continued) Financials (continued) | Principal amount (000) | Value (000) |
Lloyds Banking Group PLC 2.438% 2026 (UST Yield Curve Rate T Note Constant Maturity 1-year + 1.00% on 2/5/2025)2 | $13,875 | $14,340 |
Lloyds Banking Group PLC 4.375% 2028 | 2,560 | 2,972 |
Marsh & McLennan Companies, Inc. 3.875% 2024 | 17,120 | 18,963 |
Marsh & McLennan Companies, Inc. 4.375% 2029 | 2,460 | 2,968 |
Marsh & McLennan Companies, Inc. 2.25% 2030 | 3,506 | 3,651 |
Marsh & McLennan Companies, Inc. 4.75% 2039 | 750 | 965 |
Marsh & McLennan Companies, Inc. 4.90% 2049 | 2,750 | 3,747 |
MetLife Capital Trust IV, junior subordinated, 7.875% 2067 (3-month USD-LIBOR + 3.96% on 12/1/2037)1,2 | 100 | 127 |
MetLife, Inc. 3.60% 2025 | 100 | 114 |
MetLife, Inc. 4.55% 2030 | 2,000 | 2,485 |
MetLife, Inc. 4.60% 2046 | 800 | 1,019 |
Metropolitan Life Global Funding I 2.50% 20201 | 7,500 | 7,568 |
Metropolitan Life Global Funding I 2.40% 20211 | 19,975 | 20,198 |
Metropolitan Life Global Funding I 3.45% 20211 | 1,500 | 1,554 |
Metropolitan Life Global Funding I 2.40% 20221 | 5,965 | 6,187 |
Metropolitan Life Global Funding I 3.375% 20221 | 3,000 | 3,131 |
Metropolitan Life Global Funding I 3.60% 20241 | 3,000 | 3,282 |
Metropolitan Life Global Funding I 0.95% 20251 | 757 | 759 |
Metropolitan Life Global Funding I 3.45% 20261 | 2,315 | 2,627 |
Metropolitan Life Global Funding I 3.00% 20271 | 2,500 | 2,735 |
Metropolitan Life Global Funding I 3.05% 20291 | 5,000 | 5,530 |
Mitsubishi UFJ Financial Group, Inc. 2.19% 2021 | 7,451 | 7,586 |
Mitsubishi UFJ Financial Group, Inc. 2.665% 2022 | 16,000 | 16,630 |
Mitsubishi UFJ Financial Group, Inc. 2.998% 2022 | 9,825 | 10,183 |
Mitsubishi UFJ Financial Group, Inc. 2.801% 2024 | 4,600 | 4,931 |
Mitsubishi UFJ Financial Group, Inc. 2.193% 2025 | 45,000 | 46,530 |
Mizuho Financial Group, Ltd. 3.549% 2023 | 17,000 | 18,211 |
Morgan Stanley 2.50% 2021 | 14,300 | 14,541 |
Morgan Stanley 2.75% 2022 | 13,054 | 13,576 |
Morgan Stanley 3.125% 2023 | 10,000 | 10,607 |
Morgan Stanley 3.70% 2024 | 875 | 971 |
Morgan Stanley 3.737% 2024 (3-month USD-LIBOR + 0.847% on 4/24/2023)2 | 57,500 | 62,014 |
Morgan Stanley 2.72% 2025 (USD-SOFR + 1.152% on 7/22/2024)2 | 12,800 | 13,599 |
Morgan Stanley 2.188% 2026 (USD-SOFR + 1.99% on 4/28/2025)2 | 48,648 | 50,652 |
Morgan Stanley 2.699% 2031 (USD-SOFR + 1.143% on 1/22/2030)2 | 34,261 | 36,436 |
Morgan Stanley 3.622% 2031 (USD-SOFR + 3.12% on 4/1/2030)2 | 3,394 | 3,884 |
Morgan Stanley 5.597% 2051 (USD-SOFR + 4.84% on 3/24/2051)2 | 6,772 | 10,287 |
MSCI Inc. 3.625% 20301 | 16,200 | 16,147 |
National Australia Bank Ltd. 2.50% 2022 | 15,500 | 16,069 |
National Australia Bank Ltd. 2.875% 2023 | 13,200 | 13,992 |
Nationwide Building Society 3.766% 2024 (3-month USD-LIBOR + 1.064% on 3/8/2023)1,2 | 5,000 | 5,273 |
Nationwide Building Society 4.363% 2024 (3-month USD-LIBOR + 1.392% on 8/1/2023)1,2 | 33,400 | 36,165 |
Nationwide Building Society 4.125% 2032 (5-year USD-ICE Swap + 1.849% on 10/18/2027)1,2 | 3,000 | 3,250 |
Navient Corp. 5.50% 2023 | 7,000 | 6,733 |
Navient Corp. 5.00% 2027 | 6,250 | 5,264 |
New York Life Global Funding 1.95% 20201 | 3,625 | 3,640 |
New York Life Global Funding 1.70% 20211 | 30,500 | 30,980 |
New York Life Global Funding 2.00% 20211 | 700 | 709 |
New York Life Global Funding 2.25% 20221 | 10,195 | 10,548 |
New York Life Global Funding 0.95% 20251 | 1,403 | 1,408 |
New York Life Global Funding 3.00% 20281 | 2,250 | 2,495 |
New York Life Insurance Company 3.75% 20501 | 20,047 | 22,654 |
The Bond Fund of America — Page 4 of 58
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds & notes (continued) Financials (continued) | Principal amount (000) | Value (000) |
Northern Trust Corp. 1.95% 2030 | $13,000 | $13,392 |
Nuveen, LLC 4.00% 20281 | 1,515 | 1,794 |
OneMain Holdings, Inc. 7.125% 2026 | 7,800 | 8,083 |
PNC Bank 3.50% 2023 | 17,840 | 19,329 |
PNC Financial Services Group, Inc. 3.50% 2024 | 11,700 | 12,793 |
PNC Financial Services Group, Inc., Series O, junior subordinated, 6.75% (3-month USD-LIBOR + 3.678% on 8/1/2021)2 | 10,170 | 10,095 |
PRICOA Global Funding I 2.45% 20221 | 3,090 | 3,217 |
PRICOA Global Funding I 3.45% 20231 | 11,525 | 12,516 |
Principal Financial Group, Inc. 4.111% 20281 | 3,500 | 3,882 |
Progressive Corp. 4.00% 2029 | 3,000 | 3,593 |
Progressive Corp. 3.20% 2030 | 3,650 | 4,152 |
Progressive Corp. 3.95% 2050 | 1,250 | 1,579 |
Prudential Financial, Inc. 3.905% 2047 | 850 | 968 |
Prudential Financial, Inc. 4.418% 2048 | 1,000 | 1,206 |
Prudential Financial, Inc. 4.35% 2050 | 5,000 | 6,012 |
Prudential Financial, Inc. 3.70% 2051 | 9,850 | 10,889 |
Prudential Financial, Inc., junior subordinated, 5.70% 2048 (3-month USD-LIBOR + 2.665% on 9/15/2028)2 | 3,500 | 3,934 |
Rabobank Nederland 2.50% 2021 | 8,500 | 8,602 |
Rabobank Nederland 4.375% 2025 | 5,945 | 6,712 |
Rede D’Or Finance SARL 4.50% 20301 | 7,200 | 6,365 |
Royal Bank of Canada 3.20% 2021 | 10,000 | 10,239 |
Royal Bank of Canada 2.80% 2022 | 23,825 | 24,809 |
Royal Bank of Canada 1.15% 2025 | 14,871 | 14,902 |
Royal Bank of Scotland PLC 4.65% 2024 (3-month USD-LIBOR + 1.55% on 6/25/2023)2 | 14,130 | 15,364 |
Royal Bank of Scotland PLC 4.445% 2030 (3-month USD-LIBOR + 1.871% on 5/5/2029)2 | 14,200 | 16,495 |
Royal Bank of Scotland PLC 5.076% 2030 (3-month USD-LIBOR + 1.905% on 1/27/2029)2 | 5,300 | 6,372 |
Santander Holdings USA, Inc. 3.40% 2023 | 17,000 | 17,702 |
Santander Holdings USA, Inc. 3.50% 2024 | 13,325 | 14,024 |
Santander Holdings USA, Inc. 3.244% 2026 | 15,000 | 15,605 |
Skandinaviska Enskilda Banken AB 1.875% 2021 | 13,500 | 13,724 |
Skandinaviska Enskilda Banken AB 2.625% 2021 | 15,275 | 15,499 |
State Street Corp. 2.901% 2026 (USD-SOFR + 2.70% on 3/30/2025)1,2 | 4,500 | 4,886 |
State Street Corp. 3.152% 2031 (USD-SOFR + 2.65% on 3/30/2025)1,2 | 2,750 | 3,092 |
Sumitomo Mitsui Banking Corp. 3.102% 2023 | 28,940 | 30,617 |
Sumitomo Mitsui Financial Group, Inc. 2.696% 2024 | 520 | 551 |
Svenska Handelsbanken AB 1.875% 2021 | 8,920 | 9,077 |
Synchrony Financial 2.85% 2022 | 8,750 | 8,903 |
Synchrony Financial 4.375% 2024 | 5,825 | 6,105 |
Toronto-Dominion Bank 2.65% 2024 | 18,625 | 19,943 |
Travelers Companies, Inc. 4.00% 2047 | 2,250 | 2,773 |
Travelers Companies, Inc. 4.10% 2049 | 1,500 | 1,890 |
Travelers Companies, Inc. 2.55% 2050 | 2,065 | 2,047 |
U.S. Bancorp 2.40% 2024 | 52,565 | 55,984 |
U.S. Bank NA 2.85% 2023 | 21,000 | 22,198 |
U.S. Bank NA 3.40% 2023 | 13,125 | 14,202 |
UBS Group AG 3.126% 2030 (3-month USD-LIBOR + 1.468% on 8/13/2029)1,2 | 19,100 | 20,646 |
UniCredit SpA 3.75% 20221 | 14,975 | 15,369 |
UniCredit SpA 6.572% 20221 | 22,250 | 23,514 |
UniCredit SpA 4.625% 20271 | 27,550 | 29,715 |
UniCredit SpA 5.861% 2032 (5-year USD-ICE Swap + 3.703% on 6/19/2027)1,2 | 51,585 | 54,275 |
UniCredit SpA 7.296% 2034 (5-year USD-ICE Swap + 4.914% on 4/2/2029)1,2 | 35,184 | 39,718 |
UniCredit SpA 5.459% 2035 (5-year USD-ICE Swap + 4.75% on 6/30/2030)1,2 | 1,723 | 1,740 |
Unum Group 5.625% 2020 | 345 | 348 |
The Bond Fund of America — Page 5 of 58
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds & notes (continued) Financials (continued) | Principal amount (000) | Value (000) |
VEB Finance Ltd. 6.902% 20201 | $4,600 | $4,612 |
VEB Finance Ltd. 6.80% 20251 | 500 | 596 |
Wells Fargo & Company 2.10% 2021 | 41,300 | 42,044 |
Wells Fargo & Company 2.50% 2021 | 13,500 | 13,690 |
Wells Fargo & Company 1.654% 2024 (USD-SOFR + 1.60% on 6/2/2023)2 | 101,335 | 103,020 |
Wells Fargo & Company 2.406% 2025 (3-month USD-LIBOR + 0.82% on 10/30/2024)2 | 73,387 | 76,443 |
Wells Fargo & Company 2.164% 2026 (3-month USD-LIBOR + 0.75% on 2/11/2025)2 | 30,104 | 31,090 |
Wells Fargo & Company 2.188% 2026 (USD-SOFR + 2.00% on 4/30/2025)2 | 47,487 | 49,156 |
Wells Fargo & Company 3.196% 2027 (3-month USD-LIBOR + 1.17% on 4/17/2027)2 | 19,471 | 21,124 |
Wells Fargo & Company 2.393% 2028 (USD-SOFR + 2.10% on 6/2/2027)2 | 12,650 | 13,080 |
Wells Fargo & Company 2.879% 2030 (3-month USD-LIBOR + 1.17% on 10/30/2029)2 | 18,348 | 19,624 |
Wells Fargo & Company 2.572% 2031 (3-month USD-LIBOR + 1.00% on 2/11/2030)2 | 66,238 | 69,380 |
Wells Fargo & Company 3.068% 2041 (USD-SOFR + 2.53% on 4/30/2040)2 | 4,902 | 5,120 |
Wells Fargo & Company 5.013% 2051 (3-month USD-LIBOR + 4.24% on 4/4/2050)2 | 22,132 | 30,700 |
Westpac Banking Corp. 2.894% 2030 (UST Yield Curve Rate T Note Constant Maturity 5-year + 1.35% on 2/4/2025)2 | 29,668 | 30,193 |
Westpac Banking Corp. 4.11% 2034 (UST Yield Curve Rate T Note Constant Maturity 5-year + 2.00% on 7/24/2029)2 | 4,765 | 5,270 |
Willis North America Inc. 2.95% 2029 | 2,130 | 2,261 |
Willis North America Inc. 3.875% 2049 | 3,100 | 3,451 |
| | 4,672,770 |
Health care 4.36% | | |
Abbott Laboratories 3.40% 2023 | 6,785 | 7,407 |
Abbott Laboratories 3.75% 2026 | 1,023 | 1,191 |
Abbott Laboratories 4.75% 2036 | 200 | 269 |
AbbVie Inc. 2.30% 2021 | 14,335 | 14,518 |
AbbVie Inc. 5.00% 20211 | 12,457 | 13,080 |
AbbVie Inc. 3.45% 20221 | 27,305 | 28,378 |
AbbVie Inc. 2.60% 20241 | 33,935 | 36,159 |
AbbVie Inc. 2.95% 20261 | 31,642 | 34,653 |
AbbVie Inc. 3.20% 20291 | 36,831 | 41,124 |
AbbVie Inc. 4.75% 20451 | 5,024 | 6,243 |
AbbVie Inc. 4.45% 2046 | 3,300 | 4,018 |
AbbVie Inc. 4.875% 2048 | 6,500 | 8,330 |
AbbVie Inc. 4.25% 20491 | 3,797 | 4,572 |
Amgen Inc. 2.45% 2030 | 25,000 | 26,483 |
Amgen Inc. 3.375% 2050 | 9,410 | 10,352 |
Anthem, Inc. 2.95% 2022 | 11,000 | 11,606 |
Anthem, Inc. 2.375% 2025 | 1,534 | 1,627 |
AstraZeneca PLC 2.375% 2022 | 14,650 | 15,174 |
AstraZeneca PLC 3.50% 2023 | 15,207 | 16,463 |
AstraZeneca PLC 3.375% 2025 | 33,000 | 37,113 |
AstraZeneca PLC 4.00% 2029 | 2,027 | 2,485 |
Avantor, Inc. 6.00% 20241 | 7,198 | 7,529 |
Bayer US Finance II LLC 3.875% 20231 | 26,275 | 28,843 |
Bayer US Finance II LLC 4.25% 20251 | 31,819 | 36,584 |
Bayer US Finance II LLC 4.375% 20281 | 31,900 | 37,299 |
Bayer US Finance II LLC 4.875% 20481 | 776 | 996 |
Becton, Dickinson and Company 2.894% 2022 | 22,730 | 23,527 |
Becton, Dickinson and Company 3.363% 2024 | 41,795 | 45,089 |
Becton, Dickinson and Company 3.734% 2024 | 5,000 | 5,508 |
Becton, Dickinson and Company 3.70% 2027 | 42,036 | 47,058 |
Becton, Dickinson and Company 2.823% 2030 | 6,943 | 7,369 |
The Bond Fund of America — Page 6 of 58
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds & notes (continued) Health care (continued) | Principal amount (000) | Value (000) |
Becton, Dickinson and Company 3.794% 2050 | $2,526 | $2,819 |
Boston Scientific Corp. 3.375% 2022 | 6,200 | 6,485 |
Boston Scientific Corp. 3.45% 2024 | 1,985 | 2,153 |
Boston Scientific Corp. 3.75% 2026 | 11,325 | 12,870 |
Boston Scientific Corp. 2.65% 2030 | 42,440 | 44,138 |
Boston Scientific Corp. 4.70% 2049 | 1,025 | 1,309 |
Bristol-Myers Squibb Co. 2.60% 20221 | 6,623 | 6,888 |
Bristol-Myers Squibb Co. 2.90% 20241 | 14,262 | 15,446 |
Bristol-Myers Squibb Co. 3.20% 20261 | 12,838 | 14,419 |
Bristol-Myers Squibb Co. 3.40% 20291 | 28,807 | 33,601 |
Bristol-Myers Squibb Co. 4.25% 20491 | 6,867 | 9,160 |
Centene Corp. 4.75% 2022 | 2,500 | 2,540 |
Centene Corp. 4.75% 2025 | 9,060 | 9,286 |
Centene Corp. 5.375% 20261 | 10,415 | 10,839 |
Centene Corp. 5.375% 20261 | 3,175 | 3,316 |
Centene Corp. 4.25% 2027 | 58,085 | 60,073 |
Centene Corp. 4.625% 2029 | 42,335 | 44,929 |
Centene Corp. 3.375% 2030 | 30,182 | 30,522 |
Charles River Laboratories International, Inc. 5.50% 20261 | 6,500 | 6,779 |
Cigna Corp. 3.75% 2023 | 6,029 | 6,549 |
Cigna Corp. 4.375% 2028 | 21,665 | 25,657 |
Cigna Corp. 4.80% 2038 | 2,020 | 2,564 |
Cigna Corp. 4.90% 2048 | 14,945 | 19,787 |
CVS Health Corp. 3.35% 2021 | 2,571 | 2,622 |
CVS Health Corp. 4.10% 2025 | 5,000 | 5,656 |
CVS Health Corp. 4.30% 2028 | 6,250 | 7,312 |
CVS Health Corp. 3.75% 2030 | 6,000 | 6,913 |
CVS Health Corp. 5.05% 2048 | 12,004 | 15,640 |
CVS Health Corp. 4.25% 2050 | 8,451 | 10,211 |
DaVita HealthCare Partners Inc. 5.125% 2024 | 5,000 | 5,092 |
Elanco Animal Health Inc. 5.022% 2023 | 4,700 | 4,956 |
Eli Lilly and Co. 2.35% 2022 | 3,816 | 3,964 |
EMD Finance LLC 2.95% 20221 | 9,600 | 9,910 |
EMD Finance LLC 3.25% 20251 | 36,850 | 40,221 |
GlaxoSmithKline PLC 2.875% 2022 | 6,417 | 6,708 |
GlaxoSmithKline PLC 3.375% 2023 | 41,545 | 44,813 |
GlaxoSmithKline PLC 3.00% 2024 | 14,515 | 15,702 |
GlaxoSmithKline PLC 3.625% 2025 | 17,910 | 20,227 |
HCA Inc. 5.875% 2023 | 3,750 | 4,065 |
HCA Inc. 5.875% 2026 | 4,700 | 5,165 |
HCA Inc. 4.125% 2029 | 2,825 | 3,119 |
HCA Inc. 5.875% 2029 | 7,130 | 8,080 |
HCA Inc. 3.50% 2030 | 5,225 | 5,038 |
HCA Inc. 5.25% 2049 | 8,300 | 10,017 |
Humana Inc. 2.50% 2020 | 15,000 | 15,137 |
IMS Health Holdings, Inc. 5.00% 20261 | 5,750 | 5,942 |
Johnson & Johnson 2.25% 2022 | 12,240 | 12,619 |
Laboratory Corp. of America Holdings 4.70% 2045 | 1,310 | 1,598 |
Medtronic, Inc. 3.50% 2025 | 890 | 1,004 |
Merck & Co., Inc. 2.90% 2024 | 4,864 | 5,262 |
Merck & Co., Inc. 2.75% 2025 | 26,525 | 28,880 |
Molina Healthcare, Inc. 5.375% 2022 | 6,890 | 7,043 |
Molina Healthcare, Inc. 4.875% 20251 | 11,725 | 11,826 |
Molina Healthcare, Inc. 4.375% 20281 | 2,125 | 2,134 |
The Bond Fund of America — Page 7 of 58
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds & notes (continued) Health care (continued) | Principal amount (000) | Value (000) |
Mylan Laboratories Inc. 3.15% 2021 | $14,800 | $15,111 |
New York University Hospital Center 3.38% 2055 | 6,417 | 6,227 |
Novartis Capital Corp. 1.75% 2025 | 10,827 | 11,330 |
Novartis Capital Corp. 2.00% 2027 | 5,513 | 5,848 |
Novartis Capital Corp. 2.20% 2030 | 15,824 | 16,762 |
Partners HealthCare System, Inc. 3.192% 2049 | 10,400 | 11,092 |
Pfizer Inc. 2.80% 2022 | 3,707 | 3,862 |
Pfizer Inc. 3.20% 2023 | 32,648 | 35,239 |
Pfizer Inc. 2.95% 2024 | 7,674 | 8,308 |
Pfizer Inc. 2.75% 2026 | 10,172 | 11,306 |
Rotech Healthcare Inc., Term Loan, (3-month USD-LIBOR + 11.00%) 13.00% 2023 (100% PIK)3,4,5,6,7 | 7,305 | 7,378 |
Shire PLC 2.40% 2021 | 13,442 | 13,714 |
Shire PLC 2.875% 2023 | 8,790 | 9,316 |
Shire PLC 3.20% 2026 | 43,426 | 48,208 |
Takeda Pharmaceutical Company, Ltd. 4.40% 2023 | 47,390 | 52,728 |
Takeda Pharmaceutical Company, Ltd. 5.00% 2028 | 60,515 | 74,699 |
Takeda Pharmaceutical Company, Ltd. 2.05% 2030 | 19,169 | 19,015 |
Takeda Pharmaceutical Company, Ltd. 3.025% 2040 | 6,195 | 6,265 |
Takeda Pharmaceutical Company, Ltd. 3.175% 2050 | 6,942 | 7,002 |
Takeda Pharmaceutical Company, Ltd. 3.375% 2060 | 6,461 | 6,497 |
Tenet Healthcare Corp. 4.625% 2024 | 10,300 | 10,107 |
Tenet Healthcare Corp. 4.875% 20261 | 5,535 | 5,430 |
Tenet Healthcare Corp. 5.125% 20271 | 4,565 | 4,518 |
Teva Pharmaceutical Finance Co. BV 2.20% 2021 | 3,886 | 3,816 |
Teva Pharmaceutical Finance Co. BV 2.95% 2022 | 6,800 | 6,577 |
Teva Pharmaceutical Finance Co. BV 2.80% 2023 | 239,298 | 226,801 |
Teva Pharmaceutical Finance Co. BV 6.00% 2024 | 92,316 | 95,069 |
Teva Pharmaceutical Finance Co. BV 7.125% 20251 | 66,000 | 70,387 |
Teva Pharmaceutical Finance Co. BV 3.15% 2026 | 95,825 | 85,920 |
Teva Pharmaceutical Finance Co. BV 6.75% 2028 | 86,779 | 91,873 |
Teva Pharmaceutical Finance Co. BV 4.10% 2046 | 110,965 | 93,571 |
Thermo Fisher Scientific Inc. 4.497% 2030 | 16,711 | 20,695 |
UnitedHealth Group Inc. 3.35% 2022 | 200 | 212 |
UnitedHealth Group Inc. 2.375% 2024 | 11,540 | 12,287 |
UnitedHealth Group Inc. 3.50% 2024 | 21,200 | 23,341 |
UnitedHealth Group Inc. 3.70% 2025 | 15,430 | 17,715 |
UnitedHealth Group Inc. 3.75% 2025 | 5,880 | 6,707 |
UnitedHealth Group Inc. 2.875% 2029 | 16,410 | 18,331 |
UnitedHealth Group Inc. 2.00% 2030 | 10,000 | 10,481 |
UnitedHealth Group Inc. 4.45% 2048 | 2,000 | 2,624 |
UnitedHealth Group Inc. 3.70% 2049 | 6,795 | 8,050 |
UnitedHealth Group Inc. 2.90% 2050 | 10,000 | 10,670 |
Upjohn Inc. 1.125% 20221 | 6,731 | 6,770 |
Upjohn Inc. 1.65% 20251 | 2,541 | 2,593 |
Upjohn Inc. 2.30% 20271 | 1,713 | 1,771 |
Upjohn Inc. 2.70% 20301 | 28,221 | 29,057 |
Upjohn Inc. 3.85% 20401 | 5,305 | 5,709 |
Upjohn Inc. 4.00% 20501 | 19,181 | 20,621 |
Valeant Pharmaceuticals International, Inc. 7.00% 20241 | 6,808 | 7,077 |
Valeant Pharmaceuticals International, Inc. 5.50% 20251 | 10,000 | 10,231 |
The Bond Fund of America — Page 8 of 58
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds & notes (continued) Health care (continued) | Principal amount (000) | Value (000) |
WellPoint, Inc. 3.50% 2024 | $18,698 | $20,472 |
Zimmer Holdings, Inc. 3.15% 2022 | 14,276 | 14,826 |
| | 2,574,268 |
Utilities 4.20% | | |
Abu Dhabi National Energy Company PJSC (TAQA) 5.875% 20211 | 1,055 | 1,125 |
Abu Dhabi National Energy Company PJSC (TAQA) 3.625% 20231 | 2,110 | 2,223 |
Abu Dhabi National Energy Company PJSC (TAQA) 4.375% 20251 | 20,500 | 22,908 |
Abu Dhabi National Energy Company PJSC (TAQA) 4.375% 20261 | 600 | 681 |
Abu Dhabi National Energy Company PJSC (TAQA) 4.875% 20301 | 440 | 529 |
AEP Transmission Co. LLC 3.65% 2050 | 4,825 | 5,595 |
AES Corp. 5.50% 2025 | 9,000 | 9,265 |
AES Corp. 5.125% 2027 | 2,000 | 2,080 |
Alliant Energy Finance LLC 4.25% 20281 | 3,804 | 4,425 |
Ameren Corp. 2.50% 2024 | 3,297 | 3,498 |
Ameren Corp. 3.50% 2031 | 27,707 | 31,040 |
American Electric Power Co., Inc. 4.30% 2028 | 10,000 | 11,765 |
American Electric Power Co., Inc. 2.30% 2030 | 25,335 | 25,667 |
American Electric Power Co., Inc. 3.25% 2050 | 22,050 | 22,806 |
American Water Cap Corp. 2.80% 2030 | 7,950 | 8,677 |
Avangrid, Inc. 3.80% 2029 | 5,000 | 5,815 |
Berkshire Hathaway Energy Co. 2.80% 2023 | 8,650 | 9,135 |
Berkshire Hathaway Energy Co. 4.05% 20251 | 5,700 | 6,499 |
Berkshire Hathaway Energy Co. 3.70% 20301 | 5,500 | 6,458 |
Berkshire Hathaway Energy Co. 4.50% 2045 | 200 | 254 |
Berkshire Hathaway Energy Co. 4.25% 20501 | 3,975 | 5,001 |
Calpine Corp. 5.25% 20261 | 10,300 | 10,430 |
Cemig Geração e Transmissão SA 9.25% 2024 | 700 | 774 |
CenterPoint Energy, Inc. 3.85% 2024 | 36,462 | 39,911 |
CenterPoint Energy, Inc. 2.95% 2030 | 13,000 | 13,835 |
CenterPoint Energy, Inc. 3.70% 2049 | 2,775 | 3,032 |
CenterPoint Energy, Inc. 2.90% 2050 | 4,150 | 4,334 |
CMS Energy Corp. 3.875% 2024 | 5,000 | 5,373 |
CMS Energy Corp. 3.00% 2026 | 2,853 | 3,099 |
CMS Energy Corp. 3.45% 2027 | 2,500 | 2,750 |
CMS Energy Corp. 4.875% 2044 | 100 | 130 |
Colbun SA 3.95% 20271 | 5,225 | 5,629 |
Comisión Federal de Electricidad 4.875% 20241 | 2,500 | 2,640 |
Comisión Federal de Electricidad 4.75% 20271 | 370 | 390 |
Consolidated Edison Company of New York, Inc. 3.95% 2050 | 8,100 | 9,683 |
Consumers Energy Co. 3.10% 2050 | 20,000 | 22,333 |
Consumers Energy Co. 3.75% 2050 | 5,000 | 6,107 |
Consumers Energy Co. 3.50% 2051 | 4,113 | 4,868 |
Dominion Resources, Inc. 3.375% 2030 | 17,000 | 18,844 |
Dominion Resources, Inc., junior subordinated, 3.071% 20242 | 17,600 | 18,918 |
DPL Inc. 4.125% 20251 | 1,040 | 1,043 |
DTE Energy Co. 3.40% 2029 | 16,850 | 18,267 |
Duke Energy Carolinas, LLC 2.45% 2029 | 32,180 | 34,608 |
Duke Energy Carolinas, LLC 2.45% 2030 | 25,000 | 27,075 |
Duke Energy Corp. 3.40% 2029 | 21,940 | 24,708 |
Duke Energy Corp. 2.45% 2030 | 10,000 | 10,559 |
Duke Energy Florida, LLC 2.50% 2029 | 9,863 | 10,683 |
Duke Energy Indiana, Inc. 3.25% 2049 | 3,875 | 4,302 |
Duke Energy Ohio, Inc. 2.125% 2030 | 8,850 | 9,177 |
The Bond Fund of America — Page 9 of 58
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds & notes (continued) Utilities (continued) | Principal amount (000) | Value (000) |
Edison International 3.125% 2022 | $13,250 | $13,657 |
Edison International 3.55% 2024 | 38,052 | 40,227 |
Edison International 4.95% 2025 | 39,007 | 42,937 |
Edison International 5.75% 2027 | 11,322 | 13,016 |
Edison International 4.125% 2028 | 35,608 | 37,679 |
EDP Finance BV 5.25% 20211 | 3,500 | 3,575 |
EDP Finance BV 3.625% 20241 | 9,275 | 10,006 |
Electricité de France SA 4.50% 20281 | 762 | 888 |
Electricité de France SA 4.875% 20381 | 3,725 | 4,405 |
Electricité de France SA 4.95% 20451 | 711 | 870 |
Electricité de France SA 5.00% 20481 | 305 | 388 |
Electricité de France SA 6.00% 2114 | £300 | 633 |
Emera Inc. 6.75% 2076 (3-month USD-LIBOR + 5.44% on 6/15/2026)2 | $22,801 | 24,699 |
Emera US Finance LP 2.70% 2021 | 3,085 | 3,142 |
Empresa Nacional de Electricidad SA 4.25% 2024 | 1,500 | 1,606 |
Empresas Publicas de Medellin ESP 4.25% 20291 | 2,010 | 2,021 |
Enel Chile SA 4.875% 2028 | 4,000 | 4,474 |
Enel Finance International SA 4.625% 20251 | 29,000 | 33,049 |
Enel Finance International SA 3.50% 20281 | 8,724 | 9,395 |
Enel Finance International SA 4.75% 20471 | 1,966 | 2,349 |
Enel Società per Azioni 8.75% 2073 (USD Semi Annual 30/360 (vs. 3-month USD-LIBOR) + 5.88% on 9/24/2023)1,2 | 9,500 | 10,825 |
Engie Energia Chile SA 3.40% 20301 | 1,458 | 1,520 |
Entergy Corp. 2.95% 2026 | 15,775 | 17,422 |
Entergy Corp. 2.80% 2030 | 7,800 | 8,232 |
Entergy Corp. 3.75% 2050 | 5,475 | 6,101 |
Entergy Louisiana, LLC 2.90% 2051 | 12,476 | 12,824 |
Evergy Metro, Inc. 2.25% 2030 | 7,575 | 7,945 |
Exelon Corp. 4.05% 2030 | 16,150 | 18,682 |
Exelon Corp. 4.70% 2050 | 2,850 | 3,637 |
Exelon Corp., junior subordinated, 3.497% 20222 | 21,000 | 21,928 |
FirstEnergy Corp. 1.60% 2026 | 6,200 | 6,263 |
FirstEnergy Corp. 3.90% 2027 | 42,060 | 47,645 |
FirstEnergy Corp. 3.50% 20281 | 8,321 | 9,125 |
FirstEnergy Corp. 2.25% 2030 | 21,792 | 21,884 |
FirstEnergy Corp. 2.65% 2030 | 25,377 | 26,537 |
FirstEnergy Corp. 7.375% 2031 | 8,895 | 13,004 |
FirstEnergy Corp. 4.85% 2047 | 8,271 | 10,494 |
FirstEnergy Corp. 3.40% 2050 | 18,375 | 19,720 |
FirstEnergy Corp., Series B, 4.25% 2023 | 11,400 | 12,335 |
Florida Power & Light Company 2.85% 2025 | 2,750 | 3,013 |
Florida Power & Light Company 3.70% 20471 | 2,428 | 2,919 |
Georgia Power Co. 2.65% 2029 | 1,250 | 1,313 |
Georgia Power Co. 3.70% 2050 | 4,285 | 4,777 |
Gulf Power Co. 3.30% 2027 | 3,831 | 4,254 |
Interstate Power and Light Co. 3.25% 2024 | 9,628 | 10,462 |
Interstate Power and Light Co. 2.30% 2030 | 6,400 | 6,549 |
IPALCO Enterprises, Inc. 3.70% 2024 | 1,325 | 1,419 |
Israel Electric Corp. Ltd. 8.10% 20961 | 6,250 | 9,281 |
Jersey Central Power & Light Co. 4.30% 20261 | 4,480 | 5,188 |
Metropolitan Edison Co. 4.30% 20291 | 3,000 | 3,511 |
Mississippi Power Co. 3.95% 2028 | 6,400 | 7,277 |
Mississippi Power Co. 4.25% 2042 | 15,911 | 18,772 |
National Grid PLC 3.15% 20271 | 1,105 | 1,209 |
The Bond Fund of America — Page 10 of 58
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds & notes (continued) Utilities (continued) | Principal amount (000) | Value (000) |
New York State Electric & Gas Corp. 3.25% 20261 | $2,000 | $2,217 |
NextEra Energy Capital Holdings, Inc. 2.403% 2021 | 10,000 | 10,228 |
NextEra Energy Capital Holdings, Inc. 3.15% 2024 | 3,760 | 4,083 |
NextEra Energy Capital Holdings, Inc. 2.75% 2025 | 6,550 | 7,085 |
NextEra Energy Capital Holdings, Inc. 2.25% 2030 | 95,400 | 98,214 |
NextEra Energy Partners, LP 4.25% 20241 | 4,715 | 4,777 |
NextEra Energy Partners, LP 3.875% 20261 | 3,535 | 3,538 |
Niagara Mohawk Power Corp. 3.508% 20241 | 2,050 | 2,253 |
Niagara Mohawk Power Corp. 4.278% 20341 | 3,000 | 3,594 |
NiSource Finance Corp. 2.65% 2022 | 2,875 | 3,005 |
Northern States Power Co. 2.20% 2020 | 1,042 | 1,043 |
Northern States Power Co. 3.40% 2042 | 50 | 57 |
Northern States Power Co. 2.60% 2051 | 6,199 | 6,269 |
NRG Energy, Inc. 7.25% 2026 | 8,773 | 9,276 |
NV Energy, Inc. 6.25% 2020 | 3,100 | 3,167 |
Pacific Gas and Electric Co. 3.50% 20208 | 10,255 | 11,193 |
Pacific Gas and Electric Co. 3.25% 2021 | 1,497 | 1,637 |
Pacific Gas and Electric Co. 4.25% 2021 | 4,550 | 4,976 |
Pacific Gas and Electric Co. 1.75% 2022 | 33,900 | 34,038 |
Pacific Gas and Electric Co. 2.45% 20228 | 5,312 | 5,809 |
Pacific Gas and Electric Co. 4.25% 2023 | 45,575 | 52,005 |
Pacific Gas and Electric Co. 3.75% 2024 | 7,957 | 8,843 |
Pacific Gas and Electric Co. 3.50% 2025 | 4,666 | 5,159 |
Pacific Gas and Electric Co. 2.95% 2026 | 17,640 | 19,059 |
Pacific Gas and Electric Co. 2.10% 2027 | 26,805 | 26,539 |
Pacific Gas and Electric Co. 3.30% 2027 | 42,535 | 46,123 |
Pacific Gas and Electric Co. 3.30% 2027 | 1,158 | 1,260 |
Pacific Gas and Electric Co. 4.65% 2028 | 5,425 | 6,472 |
Pacific Gas and Electric Co. 2.50% 2031 | 55,795 | 54,685 |
Pacific Gas and Electric Co. 6.05% 20348 | 18,823 | 22,474 |
Pacific Gas and Electric Co. 6.35% 20388 | 580 | 696 |
Pacific Gas and Electric Co. 3.30% 2040 | 25,200 | 24,584 |
Pacific Gas and Electric Co. 5.40% 2040 | 19,446 | 23,253 |
Pacific Gas and Electric Co. 3.75% 2042 | 31,950 | 33,205 |
Pacific Gas and Electric Co. 3.95% 2047 | 23,125 | 24,264 |
Pacific Gas and Electric Co. 3.50% 2050 | 66,435 | 64,301 |
PacifiCorp. 3.30% 2051 | 5,975 | 6,612 |
PacifiCorp., First Mortgage Bonds, 2.70% 2030 | 4,225 | 4,620 |
Peco Energy Co. 2.80% 2050 | 21,550 | 22,303 |
PG&E Corp. 5.25% 2030 | 2,450 | 2,468 |
Public Service Company of Colorado 2.50% 2023 | 1,430 | 1,489 |
Public Service Company of Colorado 1.90% 2031 | 18,976 | 19,381 |
Public Service Company of Colorado 4.30% 2044 | 880 | 1,119 |
Public Service Company of Colorado 3.80% 2047 | 2,702 | 3,266 |
Public Service Company of Colorado 2.70% 2051 | 10,000 | 10,265 |
Public Service Electric and Gas Co. 3.20% 2029 | 5,000 | 5,683 |
Public Service Electric and Gas Co. 2.45% 2030 | 5,555 | 5,990 |
Public Service Electric and Gas Co. 2.70% 2050 | 13,334 | 13,845 |
Public Service Electric and Gas Co. 3.15% 2050 | 15,000 | 16,570 |
Public Service Enterprise Group Inc. 2.65% 2022 | 6,225 | 6,499 |
Public Service Enterprise Group Inc. 3.00% 2027 | 2,250 | 2,493 |
Public Service Enterprise Group Inc. 3.20% 2049 | 2,475 | 2,767 |
Puget Energy, Inc. 6.00% 2021 | 4,306 | 4,544 |
Puget Energy, Inc. 5.625% 2022 | 20,491 | 21,853 |
The Bond Fund of America — Page 11 of 58
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds & notes (continued) Utilities (continued) | Principal amount (000) | Value (000) |
Puget Energy, Inc. 3.65% 2025 | $1,911 | $2,044 |
San Diego Gas & Electric Co. 6.00% 2039 | 975 | 1,394 |
San Diego Gas & Electric Co. 4.50% 2040 | 1,937 | 2,389 |
San Diego Gas & Electric Co. 3.75% 2047 | 3,086 | 3,571 |
San Diego Gas & Electric Co. 4.10% 2049 | 9,098 | 11,179 |
San Diego Gas & Electric Co. 3.32% 2050 | 16,072 | 17,542 |
Southern California Edison Co. 2.90% 2021 | 11,826 | 12,018 |
Southern California Edison Co. 1.845% 2022 | 3,621 | 3,625 |
Southern California Edison Co. 2.40% 2022 | 3,194 | 3,245 |
Southern California Edison Co. 3.40% 2023 | 8,139 | 8,717 |
Southern California Edison Co. 3.50% 2023 | 23,680 | 25,452 |
Southern California Edison Co. 3.70% 2025 | 28,595 | 31,654 |
Southern California Edison Co. 2.85% 2029 | 46,884 | 49,728 |
Southern California Edison Co. 4.20% 2029 | 28,605 | 33,402 |
Southern California Edison Co. 2.25% 2030 | 22,705 | 23,106 |
Southern California Edison Co. 6.00% 2034 | 12,500 | 16,804 |
Southern California Edison Co. 5.35% 2035 | 30,375 | 39,790 |
Southern California Edison Co. 5.75% 2035 | 6,666 | 9,062 |
Southern California Edison Co. 5.625% 2036 | 5,649 | 7,198 |
Southern California Edison Co. 5.55% 2037 | 5,300 | 6,741 |
Southern California Edison Co. 5.95% 2038 | 11,255 | 14,926 |
Southern California Edison Co. 6.05% 2039 | 2,411 | 3,256 |
Southern California Edison Co. 4.50% 2040 | 20,867 | 24,601 |
Southern California Edison Co. 4.00% 2047 | 8,750 | 10,009 |
Southern California Edison Co. 4.125% 2048 | 18,740 | 21,955 |
Southern California Edison Co. 4.875% 2049 | 13,454 | 17,426 |
Southern California Edison Co. 3.65% 2050 | 43,332 | 47,817 |
Southern California Edison Co., Series C, 3.60% 2045 | 16,979 | 18,500 |
Southern California Gas Company 2.55% 2030 | 16,646 | 17,956 |
Southern Co. 3.70% 2030 | 19,500 | 22,338 |
Southern Co. 4.25% 2036 | 4,425 | 5,050 |
Southern Co. 4.40% 2046 | 7,217 | 8,574 |
State Grid Overseas Investment Ltd. 3.50% 20271 | 2,000 | 2,215 |
Talen Energy Supply, LLC 7.25% 20271 | 11,474 | 11,436 |
Talen Energy Supply, LLC 6.625% 20281 | 8,000 | 7,853 |
Talen Energy Supply, LLC 7.625% 20281 | 1,410 | 1,413 |
Virginia Electric and Power Co. 2.875% 2029 | 4,944 | 5,444 |
Virginia Electric and Power Co. 4.00% 2043 | 1,437 | 1,720 |
Virginia Electric and Power Co. 3.30% 2049 | 3,250 | 3,622 |
Virginia Electric and Power Co., Series B, 3.80% 2047 | 1,832 | 2,149 |
Vistra Operations Co. LLC 3.55% 20241 | 8,000 | 8,262 |
Vistra Operations Co. LLC 5.00% 20271 | 1,000 | 1,018 |
Wisconsin Power and Light Co. 3.65% 2050 | 4,075 | 4,779 |
Xcel Energy Inc. 3.35% 2026 | 1,527 | 1,714 |
Xcel Energy Inc. 2.60% 2029 | 11,200 | 12,063 |
Xcel Energy Inc. 3.50% 2049 | 13,163 | 14,745 |
| | 2,484,681 |
Energy 3.83% | | |
Apache Corp. 4.25% 2030 | 9,050 | 7,836 |
Apache Corp. 4.75% 2043 | 20,800 | 16,773 |
Apache Corp. 4.25% 2044 | 5,800 | 4,374 |
Apache Corp. 5.35% 2049 | 20,669 | 16,509 |
Baker Hughes, a GE Co. 4.486% 2030 | 9,519 | 10,969 |
The Bond Fund of America — Page 12 of 58
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds & notes (continued) Energy (continued) | Principal amount (000) | Value (000) |
Baker Hughes, a GE Co. 4.08% 2047 | $4,040 | $4,207 |
BP Capital Markets PLC 3.79% 2024 | 47,280 | 51,778 |
BP Capital Markets PLC 3.41% 2026 | 17,500 | 19,384 |
BP Capital Markets PLC 4.234% 2028 | 2,500 | 2,906 |
BP Capital Markets PLC 3.00% 2050 | 19,159 | 18,920 |
Canadian Natural Resources Ltd. 3.45% 2021 | 800 | 820 |
Canadian Natural Resources Ltd. 2.95% 2023 | 25,740 | 26,567 |
Canadian Natural Resources Ltd. 3.80% 2024 | 20,250 | 21,511 |
Canadian Natural Resources Ltd. 2.05% 2025 | 24,338 | 24,415 |
Canadian Natural Resources Ltd. 3.85% 2027 | 49,874 | 53,372 |
Canadian Natural Resources Ltd. 2.95% 2030 | 16,331 | 16,239 |
Cenovus Energy Inc. 3.80% 2023 | 3,940 | 3,707 |
Cenovus Energy Inc. 4.25% 2027 | 16,800 | 15,260 |
Cenovus Energy Inc. 5.25% 2037 | 2,189 | 1,895 |
Cenovus Energy Inc. 5.40% 2047 | 39,993 | 34,367 |
Cheniere Energy Partners, LP 4.50% 20291 | 2,050 | 2,005 |
Cheniere Energy, Inc. 5.125% 2027 | 3,000 | 3,296 |
Cheniere Energy, Inc. 3.70% 20291 | 71,536 | 73,388 |
Chevron Corp. 2.10% 2021 | 10,000 | 10,138 |
Chevron Corp. 2.498% 2022 | 9,675 | 10,013 |
Chevron Corp. 2.954% 2026 | 6,340 | 7,027 |
Chevron Corp. 1.995% 2027 | 919 | 963 |
Chevron Corp. 2.236% 2030 | 17,660 | 18,510 |
Chevron Corp. 2.978% 2040 | 1,772 | 1,899 |
Chevron Corp. 3.078% 2050 | 4,762 | 5,068 |
Columbia Pipeline Partners LP 5.80% 2045 | 2,635 | 3,220 |
Concho Resources Inc. 4.30% 2028 | 18,500 | 20,333 |
Concho Resources Inc. 4.85% 2048 | 5,402 | 6,105 |
Constellation Oil Services Holding SA 10.00% 2024 (100% PIK)1,7 | 3,370 | 1,011 |
DCP Midstream Operating LP 4.95% 2022 | 1,495 | 1,508 |
Diamond Offshore Drilling, Inc. 4.875% 20438 | 13,470 | 1,592 |
Enbridge Energy Partners, LP 5.875% 2025 | 5,000 | 5,974 |
Enbridge Energy Partners, LP 7.375% 2045 | 32,973 | 47,229 |
Enbridge Inc. 4.00% 2023 | 55,510 | 60,228 |
Enbridge Inc. 3.50% 2024 | 5,682 | 6,172 |
Endeavor Energy Resources, LP 6.625% 20251 | 1,995 | 2,016 |
Energy Transfer Operating, LP 5.875% 2024 | 2,043 | 2,287 |
Energy Transfer Operating, LP 2.90% 2025 | 8,003 | 8,204 |
Energy Transfer Operating, LP 5.50% 2027 | 10,000 | 11,169 |
Energy Transfer Operating, LP 3.75% 2030 | 14,013 | 13,875 |
Energy Transfer Operating, LP 5.00% 2050 | 73,591 | 69,792 |
Energy Transfer Partners, LP 4.20% 2023 | 5,725 | 6,090 |
Energy Transfer Partners, LP 4.50% 2024 | 2,975 | 3,229 |
Energy Transfer Partners, LP 4.95% 2028 | 7,500 | 8,058 |
Energy Transfer Partners, LP 6.125% 2045 | 19,678 | 20,515 |
Energy Transfer Partners, LP 5.30% 2047 | 32,861 | 31,825 |
Energy Transfer Partners, LP 6.00% 2048 | 17,891 | 18,584 |
Energy Transfer Partners, LP 6.25% 2049 | 21,248 | 22,549 |
Energy Transfer Partners, LP, junior subordinated, 6.625% (3-month USD-LIBOR + 4.155% on 2/15/2028)2 | 22,000 | 16,873 |
EOG Resources, Inc. 4.375% 2030 | 17,323 | 20,662 |
EOG Resources, Inc. 4.95% 2050 | 20,134 | 26,305 |
EQM Midstream Partners, LP 4.75% 2023 | 2,500 | 2,526 |
EQM Midstream Partners, LP 6.50% 20271 | 3,520 | 3,614 |
EQM Midstream Partners, LP 5.50% 2028 | 8,300 | 7,924 |
The Bond Fund of America — Page 13 of 58
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds & notes (continued) Energy (continued) | Principal amount (000) | Value (000) |
EQT Corp. 3.00% 2022 | $23,035 | $21,495 |
EQT Corp. 6.125% 2025 | 8,487 | 8,472 |
EQT Corp. 3.90% 2027 | 11,000 | 8,994 |
EQT Corp. 7.00% 2030 | 15,000 | 15,471 |
Equinor ASA 3.625% 2028 | 12,719 | 14,645 |
Equinor ASA 3.125% 2030 | 22,503 | 24,867 |
Equinor ASA 3.25% 2049 | 5,687 | 6,053 |
Equinor ASA 3.70% 2050 | 4,349 | 5,023 |
Exxon Mobil Corp. 2.019% 2024 | 27,788 | 29,034 |
Exxon Mobil Corp. 2.44% 2029 | 838 | 890 |
Exxon Mobil Corp. 2.61% 2030 | 45,000 | 48,080 |
Exxon Mobil Corp. 4.227% 2040 | 2,000 | 2,425 |
Exxon Mobil Corp. 4.327% 2050 | 1,490 | 1,875 |
Exxon Mobil Corp. 3.452% 2051 | 27,385 | 30,536 |
Gazprom OJSC 6.51% 20221 | 8,350 | 8,974 |
KazMunayGas National Co. JSC 4.75% 2027 | 2,560 | 2,784 |
Kinder Morgan, Inc. 3.15% 2023 | 1,280 | 1,338 |
Kinder Morgan, Inc. 4.30% 2028 | 10,000 | 11,346 |
Kinder Morgan, Inc. 5.05% 2046 | 6,575 | 7,573 |
Kinder Morgan, Inc. 5.20% 2048 | 9,024 | 10,973 |
Marathon Oil Corp. 3.85% 2025 | 5,000 | 5,046 |
Marathon Oil Corp. 4.40% 2027 | 5,755 | 5,651 |
MPLX LP 3.50% 2022 | 8,500 | 8,861 |
MPLX LP 5.50% 2049 | 18,014 | 20,470 |
MV24 Capital BV 6.748% 20341 | 1,936 | 1,843 |
Noble Energy, Inc. 3.85% 2028 | 1,149 | 1,111 |
Noble Energy, Inc. 3.25% 2029 | 26,923 | 24,359 |
Noble Energy, Inc. 4.95% 2047 | 22,695 | 20,258 |
Noble Energy, Inc. 4.20% 2049 | 25,829 | 21,465 |
NuStar Logistics, LP 6.75% 20211 | 3,400 | 3,388 |
Occidental Petroleum Corp. 2.60% 2021 | 2,750 | 2,695 |
Occidental Petroleum Corp. 2.90% 2024 | 19,625 | 16,818 |
Occidental Petroleum Corp. 8.00% 2025 | 3,930 | 3,955 |
Occidental Petroleum Corp. 3.20% 2026 | 1,105 | 897 |
Occidental Petroleum Corp. 3.50% 2029 | 6,577 | 4,840 |
Occidental Petroleum Corp. 4.20% 2048 | 4,250 | 2,883 |
ONEOK, Inc. 2.20% 2025 | 439 | 431 |
ONEOK, Inc. 5.85% 2026 | 12,242 | 13,996 |
ONEOK, Inc. 4.00% 2027 | 5,403 | 5,491 |
ONEOK, Inc. 4.55% 2028 | 1,775 | 1,863 |
ONEOK, Inc. 4.35% 2029 | 3,154 | 3,320 |
ONEOK, Inc. 3.10% 2030 | 8,896 | 8,527 |
ONEOK, Inc. 6.35% 2031 | 20,557 | 24,105 |
ONEOK, Inc. 4.95% 2047 | 515 | 497 |
ONEOK, Inc. 5.20% 2048 | 12,654 | 12,621 |
ONEOK, Inc. 4.45% 2049 | 3,299 | 3,065 |
ONEOK, Inc. 7.15% 2051 | 6,359 | 7,749 |
Parsley Energy, Inc. 5.25% 20251 | 4,000 | 3,856 |
Petrobras Global Finance Co. 8.75% 2026 | 2,600 | 3,075 |
Petrobras Global Finance Co. 5.093% 20301 | 1,962 | 1,958 |
Petrobras Global Finance Co. 6.90% 2049 | 19,000 | 20,055 |
Petrobras Global Finance Co. 6.75% 2050 | 2,190 | 2,258 |
Petróleos Mexicanos 5.50% 2021 | 196 | 196 |
Petróleos Mexicanos 4.875% 2022 | 5,805 | 5,770 |
The Bond Fund of America — Page 14 of 58
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds & notes (continued) Energy (continued) | Principal amount (000) | Value (000) |
Petróleos Mexicanos 5.375% 2022 | $5,935 | $5,941 |
Petróleos Mexicanos 3.50% 2023 | 600 | 573 |
Petróleos Mexicanos 4.625% 2023 | 400 | 385 |
Petróleos Mexicanos 4.875% 2024 | 581 | 560 |
Petróleos Mexicanos 4.50% 2026 | 9,922 | 8,675 |
Petróleos Mexicanos 6.875% 2026 | 105,261 | 99,698 |
Petróleos Mexicanos 6.50% 2027 | 65,892 | 59,566 |
Petróleos Mexicanos 6.84% 20301 | 1,447 | 1,271 |
Petróleos Mexicanos 5.95% 20311 | 2,838 | 2,345 |
Petróleos Mexicanos 7.69% 20501 | 4,125 | 3,427 |
Phillips 66 3.90% 2028 | 3,213 | 3,634 |
Plains All American Pipeline, LP 3.80% 2030 | 7,691 | 7,589 |
PTT Exploration and Production PCL 2.587% 20271 | 780 | 799 |
Sabine Pass Liquefaction, LLC 6.25% 2022 | 4,700 | 5,011 |
Sabine Pass Liquefaction, LLC 5.625% 20232 | 14,000 | 15,322 |
Sabine Pass Liquefaction, LLC 5.75% 2024 | 13,100 | 14,760 |
Sabine Pass Liquefaction, LLC 5.625% 2025 | 21,015 | 24,033 |
Sabine Pass Liquefaction, LLC 5.875% 2026 | 33,750 | 39,685 |
Sabine Pass Liquefaction, LLC 4.50% 20301 | 46,475 | 51,416 |
Saudi Arabian Oil Co. 2.875% 20241 | 8,448 | 8,791 |
Saudi Arabian Oil Co. 3.50% 20291 | 62,360 | 67,358 |
Saudi Arabian Oil Co. 4.375% 20491 | 1,325 | 1,501 |
Shell International Finance BV 3.50% 2023 | 7,500 | 8,152 |
Shell International Finance BV 2.00% 2024 | 3,250 | 3,399 |
Shell International Finance BV 3.875% 2028 | 4,680 | 5,445 |
Shell International Finance BV 2.375% 2029 | 12,491 | 13,119 |
Shell International Finance BV 3.125% 2049 | 9,190 | 9,676 |
Southwestern Energy Co. 7.50% 2026 | 7,800 | 6,852 |
Sunoco Logistics Operating Partners, LP 4.00% 2027 | 15,000 | 15,377 |
Sunoco Logistics Operating Partners, LP 5.40% 2047 | 37,806 | 37,242 |
Sunoco LP 4.875% 2023 | 6,000 | 5,932 |
Sunoco LP 6.00% 2027 | 4,210 | 4,177 |
Targa Resources Partners LP 5.875% 2026 | 7,180 | 7,125 |
Targa Resources Partners LP 6.875% 2029 | 6,000 | 6,304 |
Targa Resources Partners LP 5.50% 20301 | 8,660 | 8,370 |
Total Capital International 3.455% 2029 | 4,640 | 5,279 |
Total Capital International 3.461% 2049 | 2,600 | 2,814 |
Total Capital International 3.127% 2050 | 44,893 | 45,957 |
TOTAL SA 2.986% 2041 | 10,021 | 10,236 |
TOTAL SA 3.386% 2060 | 15,550 | 16,057 |
TransCanada PipeLines Ltd. 4.10% 2030 | 45,130 | 51,487 |
TransCanada PipeLines Ltd. 4.875% 2048 | 6,250 | 7,735 |
TransCanada PipeLines Ltd. 5.10% 2049 | 13,500 | 17,244 |
Transcontinental Gas Pipe Line Company, LLC 3.95% 20501 | 15,585 | 16,753 |
Transportadora de Gas Peru SA 4.25% 20281 | 2,535 | 2,737 |
Western Midstream Operating, LP 3.10% 2025 | 8,964 | 8,514 |
Western Midstream Operating, LP 4.05% 2030 | 6,606 | 6,383 |
Western Midstream Operating, LP 5.25% 2050 | 15,036 | 13,103 |
Williams Companies, Inc. 3.50% 2030 | 22,509 | 23,728 |
Williams Partners LP 3.90% 2025 | 1,391 | 1,524 |
Williams Partners LP 6.30% 2040 | 2,438 | 2,925 |
Williams Partners LP 5.10% 2045 | 1,626 | 1,783 |
WPX Energy, Inc. 5.25% 2024 | 2,000 | 1,976 |
WPX Energy, Inc. 5.25% 2027 | 2,500 | 2,340 |
The Bond Fund of America — Page 15 of 58
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds & notes (continued) Energy (continued) | Principal amount (000) | Value (000) |
WPX Energy, Inc. 5.875% 2028 | $2,075 | $1,992 |
WPX Energy, Inc. 4.50% 2030 | 15,995 | 14,164 |
| | 2,266,047 |
Consumer discretionary 3.14% | | |
Amazon.com, Inc. 2.40% 2023 | 10,603 | 11,149 |
Amazon.com, Inc. 3.15% 2027 | 4,460 | 5,107 |
Amazon.com, Inc. 1.50% 2030 | 21,923 | 22,283 |
Amazon.com, Inc. 3.875% 2037 | 550 | 682 |
Amazon.com, Inc. 4.05% 2047 | 503 | 657 |
Amazon.com, Inc. 2.50% 2050 | 16,150 | 16,419 |
Amazon.com, Inc. 2.70% 2060 | 13,660 | 13,950 |
American Honda Finance Corp. 1.65% 2021 | 9,565 | 9,678 |
American Honda Finance Corp. 2.60% 2022 | 106 | 111 |
Bayerische Motoren Werke AG 1.85% 20211 | 1,500 | 1,514 |
Bayerische Motoren Werke AG 2.00% 20211 | 2,000 | 2,018 |
Bayerische Motoren Werke AG 2.95% 20221 | 5,000 | 5,183 |
Bayerische Motoren Werke AG 3.45% 20231 | 19,534 | 20,707 |
Bayerische Motoren Werke AG 3.80% 20231 | 1,985 | 2,133 |
Bayerische Motoren Werke AG 3.15% 20241 | 8,808 | 9,433 |
Bayerische Motoren Werke AG 3.90% 20251 | 30,040 | 33,417 |
BMW Finance NV 2.25% 20221 | 7,500 | 7,745 |
Carnival Corp. 11.50% 20231 | 26,515 | 28,701 |
DaimlerChrysler North America Holding Corp. 2.00% 20211 | 11,925 | 12,021 |
DaimlerChrysler North America Holding Corp. 2.55% 20221 | 12,750 | 13,089 |
DaimlerChrysler North America Holding Corp. 1.75% 20231 | 18,000 | 18,137 |
DaimlerChrysler North America Holding Corp. 2.70% 20241 | 7,500 | 7,757 |
DaimlerChrysler North America Holding Corp. 3.65% 20241 | 9,710 | 10,377 |
DaimlerChrysler North America Holding Corp. 3.30% 20251 | 200 | 213 |
Expedia Group Inc. 6.25% 20251 | 6,225 | 6,660 |
Ford Motor Co. 8.50% 2023 | 14,000 | 14,831 |
Ford Motor Co. 4.346% 2026 | 2,300 | 2,152 |
Ford Motor Credit Co. 2.343% 2020 | 25,295 | 25,184 |
Ford Motor Credit Co. 3.157% 2020 | 18,661 | 18,606 |
Ford Motor Credit Co. 3.20% 2021 | 9,890 | 9,766 |
Ford Motor Credit Co. 3.336% 2021 | 4,500 | 4,468 |
Ford Motor Credit Co. 3.47% 2021 | 15,066 | 14,802 |
Ford Motor Credit Co. 3.813% 2021 | 30,785 | 30,479 |
Ford Motor Credit Co. 5.875% 2021 | 9,265 | 9,374 |
Ford Motor Credit Co. 3.219% 2022 | 1,427 | 1,395 |
Ford Motor Credit Co. 3.339% 2022 | 25,553 | 24,843 |
Ford Motor Credit Co. 3.35% 2022 | 9,000 | 8,654 |
Ford Motor Credit Co. 5.596% 2022 | 19,250 | 19,455 |
Ford Motor Credit Co. 3.087% 2023 | 16,391 | 15,617 |
Ford Motor Credit Co. 3.096% 2023 | 20,532 | 19,535 |
Ford Motor Credit Co. 4.14% 2023 | 22,000 | 21,636 |
Ford Motor Credit Co. 4.375% 2023 | 15,492 | 15,258 |
Ford Motor Credit Co. 3.664% 2024 | 5,301 | 5,017 |
Ford Motor Credit Co. 3.81% 2024 | 10,017 | 9,657 |
Ford Motor Credit Co. 4.063% 2024 | 9,000 | 8,600 |
Ford Motor Credit Co. 4.134% 2025 | 400 | 381 |
Ford Motor Credit Co. 5.125% 2025 | 6,390 | 6,421 |
Ford Motor Credit Co. 4.542% 2026 | 18,000 | 17,257 |
Ford Motor Credit Co. 4.271% 2027 | 40,000 | 37,538 |
The Bond Fund of America — Page 16 of 58
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds & notes (continued) Consumer discretionary (continued) | Principal amount (000) | Value (000) |
General Motors Co. 5.40% 2023 | $4,478 | $4,855 |
General Motors Co. 4.35% 2025 | 21,138 | 22,337 |
General Motors Co. 6.125% 2025 | 30,560 | 34,382 |
General Motors Co. 5.00% 2035 | 11,505 | 11,506 |
General Motors Co. 6.60% 2036 | 11,309 | 12,308 |
General Motors Co. 6.25% 2043 | 8,681 | 9,234 |
General Motors Co. 5.20% 2045 | 12,360 | 11,969 |
General Motors Co. 6.75% 2046 | 5,934 | 6,476 |
General Motors Co. 5.40% 2048 | 10,625 | 10,516 |
General Motors Co. 5.95% 2049 | 22,491 | 23,620 |
General Motors Financial Co. 3.20% 2021 | 13,200 | 13,355 |
General Motors Financial Co. 3.55% 2021 | 1,400 | 1,417 |
General Motors Financial Co. 3.15% 2022 | 100 | 102 |
General Motors Financial Co. 3.45% 2022 | 14,955 | 15,253 |
General Motors Financial Co. 3.45% 2022 | 550 | 559 |
General Motors Financial Co. 3.55% 2022 | 1,850 | 1,898 |
General Motors Financial Co. 3.25% 2023 | 47,908 | 48,969 |
General Motors Financial Co. 3.70% 2023 | 3,917 | 4,036 |
General Motors Financial Co. 4.15% 2023 | 14,010 | 14,650 |
General Motors Financial Co. 5.20% 2023 | 20,330 | 21,766 |
General Motors Financial Co. 3.50% 2024 | 4,470 | 4,535 |
General Motors Financial Co. 3.95% 2024 | 15,500 | 16,043 |
General Motors Financial Co. 5.10% 2024 | 18,546 | 19,836 |
General Motors Financial Co. 2.75% 2025 | 11,513 | 11,359 |
General Motors Financial Co. 2.90% 2025 | 2,410 | 2,403 |
General Motors Financial Co. 4.00% 2025 | 2,039 | 2,133 |
General Motors Financial Co. 4.30% 2025 | 558 | 582 |
General Motors Financial Co. 4.00% 2026 | 2,000 | 2,078 |
General Motors Financial Co. 5.25% 2026 | 8,267 | 9,016 |
Hanesbrands Inc. 4.625% 20241 | 5,000 | 4,988 |
Home Depot, Inc. 3.90% 2028 | 825 | 990 |
Home Depot, Inc. 2.95% 2029 | 23,565 | 26,480 |
Home Depot, Inc. 2.70% 2030 | 25,000 | 27,504 |
Home Depot, Inc. 4.50% 2048 | 863 | 1,149 |
Hyundai Capital America 2.75% 20201 | 11,706 | 11,732 |
Hyundai Capital America 3.45% 20211 | 33,735 | 34,135 |
Hyundai Capital America 3.75% 20211 | 21,500 | 21,913 |
Hyundai Capital America 2.85% 20221 | 7,412 | 7,569 |
Hyundai Capital America 3.10% 20221 | 13,890 | 14,180 |
Hyundai Capital America 3.25% 20221 | 24,685 | 25,375 |
Hyundai Capital America 3.95% 20221 | 15,000 | 15,436 |
Hyundai Capital America 2.375% 20231 | 21,815 | 22,063 |
Hyundai Capital America 5.75% 20231 | 10,000 | 10,926 |
Hyundai Capital America 2.65% 20251 | 28,554 | 28,734 |
Hyundai Capital America 5.875% 20251 | 10,000 | 11,240 |
Hyundai Capital America 3.00% 20271 | 22,768 | 22,550 |
International Game Technology PLC 6.25% 20221 | 1,690 | 1,710 |
International Game Technology PLC 6.50% 20251 | 1,060 | 1,087 |
International Game Technology PLC 5.25% 20291 | 2,940 | 2,874 |
KB Home 6.875% 2027 | 5,000 | 5,468 |
Las Vegas Sands Corp. 3.90% 2029 | 8,230 | 8,119 |
Lennar Corp. 8.375% 2021 | 5,000 | 5,180 |
Lennar Corp. 4.50% 2024 | 3,015 | 3,143 |
Limited Brands, Inc. 6.875% 20251 | 985 | 1,019 |
The Bond Fund of America — Page 17 of 58
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds & notes (continued) Consumer discretionary (continued) | Principal amount (000) | Value (000) |
Limited Brands, Inc. 6.75% 2036 | $3,800 | $3,128 |
Lowe’s Companies, Inc. 3.65% 2029 | 4,680 | 5,370 |
Lowe’s Companies, Inc. 4.05% 2047 | 2,425 | 2,847 |
Lowe’s Companies, Inc. 4.55% 2049 | 15,689 | 19,899 |
M.D.C. Holdings, Inc. 6.00% 2043 | 6,350 | 6,697 |
Magna International Inc. 2.45% 2030 | 5,500 | 5,636 |
Marriott International, Inc. 5.75% 2025 | 1,977 | 2,157 |
McDonald’s Corp. 2.125% 2030 | 8,975 | 9,221 |
McDonald’s Corp. 4.45% 2048 | 1,750 | 2,166 |
McDonald’s Corp. 3.625% 2049 | 6,857 | 7,634 |
McDonald’s Corp. 4.20% 2050 | 5,396 | 6,565 |
Melco International Development Ltd. 4.875% 20251 | 300 | 303 |
Melco International Development Ltd. 5.375% 20291 | 885 | 887 |
MGM Growth Properties LLC 5.625% 2024 | 3,885 | 4,051 |
MGM Resorts International 6.75% 2025 | 3,000 | 2,983 |
Morongo Band of Mission Indians 7.00% 20391 | 11,225 | 13,018 |
Neiman Marcus Group Ltd. LLC 8.75% 20241,8 | 5,202 | 260 |
Neiman Marcus Group Ltd. LLC 14.00% 2024 (42.86% PIK)1,7,8 | 3,364 | 1,009 |
Neiman Marcus Group Ltd. LLC, Term Loan, (1-month USD-LIBOR + 12.75%) 14.00% 20203,4,5,6 | 327 | 327 |
Newell Rubbermaid Inc. 3.15% 2021 | 11,183 | 11,183 |
Newell Rubbermaid Inc. 4.35% 2023 | 16,509 | 17,083 |
Newell Rubbermaid Inc. 4.70% 2026 | 36,569 | 38,411 |
NIKE, Inc. 2.40% 2025 | 8,656 | 9,315 |
NIKE, Inc. 2.75% 2027 | 2,475 | 2,719 |
NIKE, Inc. 2.85% 2030 | 11,193 | 12,482 |
NIKE, Inc. 3.25% 2040 | 11,563 | 13,056 |
NIKE, Inc. 3.375% 2050 | 9,052 | 10,409 |
Nissan Motor Co., Ltd. 2.60% 20221 | 15,570 | 15,244 |
PetSmart, Inc. 5.875% 20251 | 3,975 | 3,997 |
President & Fellows of Harvard College 2.517% 2050 | 5,500 | 5,712 |
S.A.C.I. Falabella 3.75% 20271 | 8,295 | 8,440 |
Sands China Ltd. 4.60% 2023 | 7,441 | 7,852 |
Sands China Ltd. 3.80% 20261 | 2,330 | 2,406 |
Sands China Ltd. 5.40% 2028 | 43,750 | 48,446 |
Sands China Ltd. 4.375% 20301 | 2,880 | 3,010 |
ServiceMaster Global Holdings, Inc. 5.125% 20241 | 5,150 | 5,234 |
Starbucks Corp. 3.10% 2023 | 15,237 | 16,223 |
Starbucks Corp. 3.80% 2025 | 14,000 | 15,789 |
Starbucks Corp. 3.50% 2050 | 13,000 | 13,722 |
Taylor Morrison Home Corp. 5.75% 20281 | 3,500 | 3,617 |
Toyota Motor Credit Corp. 2.15% 2022 | 2,000 | 2,068 |
Toyota Motor Credit Corp. 2.60% 2022 | 9,860 | 10,167 |
Toyota Motor Credit Corp. 1.35% 2023 | 19,170 | 19,565 |
Toyota Motor Credit Corp. 2.70% 2023 | 5,300 | 5,572 |
Toyota Motor Credit Corp. 1.80% 2025 | 1,500 | 1,556 |
Toyota Motor Credit Corp. 3.20% 2027 | 1,330 | 1,482 |
Toyota Motor Credit Corp. 3.05% 2028 | 2,589 | 2,900 |
Toyota Motor Credit Corp. 3.375% 2030 | 19,092 | 21,966 |
VICI Properties LP 4.25% 20261 | 5,700 | 5,479 |
VICI Properties LP 4.625% 20291 | 715 | 698 |
VICI Properties LP / VICI Note Co. Inc. 3.50% 20251 | 2,175 | 2,050 |
Volkswagen Group of America Finance, LLC 4.00% 20211 | 8,028 | 8,361 |
Volkswagen Group of America Finance, LLC 2.70% 20221 | 11,831 | 12,231 |
Volkswagen Group of America Finance, LLC 2.90% 20221 | 42,710 | 44,129 |
The Bond Fund of America — Page 18 of 58
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds & notes (continued) Consumer discretionary (continued) | Principal amount (000) | Value (000) |
Volkswagen Group of America Finance, LLC 3.125% 20231 | $41,634 | $43,818 |
Volkswagen Group of America Finance, LLC 4.25% 20231 | 3,000 | 3,287 |
Volkswagen Group of America Finance, LLC 2.85% 20241 | 22,214 | 23,401 |
Volkswagen Group of America Finance, LLC 3.35% 20251 | 23,730 | 25,508 |
Volkswagen Group of America Finance, LLC 4.625% 20251 | 3,477 | 3,958 |
Wynn Macau, Ltd. 5.125% 20291 | 1,200 | 1,167 |
Wynn Resorts Ltd. 7.75% 20251 | 4,380 | 4,431 |
| | 1,855,126 |
Consumer staples 2.54% | | |
Albertsons Companies LLC 3.50% 20231 | 3,575 | 3,623 |
Albertsons Companies LLC 6.625% 2024 | 1,525 | 1,565 |
Altria Group, Inc. 2.85% 2022 | 200 | 208 |
Altria Group, Inc. 2.35% 2025 | 785 | 827 |
Altria Group, Inc. 4.40% 2026 | 23,857 | 27,460 |
Altria Group, Inc. 4.80% 2029 | 64,397 | 75,120 |
Altria Group, Inc. 3.40% 2030 | 5,439 | 5,863 |
Altria Group, Inc. 5.80% 2039 | 900 | 1,123 |
Altria Group, Inc. 4.50% 2043 | 100 | 108 |
Altria Group, Inc. 5.95% 2049 | 54,047 | 70,971 |
Altria Group, Inc. 4.45% 2050 | 3,370 | 3,700 |
Anheuser-Busch Company / InBev Worldwide 4.90% 2046 | 32,310 | 39,642 |
Anheuser-Busch InBev NV 4.00% 2028 | 2,000 | 2,309 |
Anheuser-Busch InBev NV 4.75% 2029 | 36,001 | 43,522 |
Anheuser-Busch InBev NV 3.50% 2030 | 5,390 | 6,072 |
Anheuser-Busch InBev NV 4.90% 2031 | 3,000 | 3,782 |
Anheuser-Busch InBev NV 4.60% 2048 | 14,275 | 16,692 |
Anheuser-Busch InBev NV 5.55% 2049 | 14,412 | 19,322 |
Anheuser-Busch InBev NV 4.50% 2050 | 18,726 | 22,426 |
British American Tobacco International Finance PLC 3.95% 20251 | 20,022 | 22,097 |
British American Tobacco PLC 2.764% 2022 | 21,380 | 22,151 |
British American Tobacco PLC 3.222% 2024 | 51,000 | 54,679 |
British American Tobacco PLC 3.215% 2026 | 17,500 | 18,817 |
British American Tobacco PLC 3.557% 2027 | 107,870 | 116,788 |
British American Tobacco PLC 4.70% 2027 | 911 | 1,043 |
British American Tobacco PLC 4.906% 2030 | 14,470 | 17,024 |
British American Tobacco PLC 4.39% 2037 | 50,000 | 54,605 |
British American Tobacco PLC 4.54% 2047 | 38,726 | 42,221 |
British American Tobacco PLC 4.758% 2049 | 50,711 | 56,471 |
Coca-Cola Co. 1.75% 2024 | 36,000 | 37,799 |
Conagra Brands, Inc. 4.30% 2024 | 22,146 | 24,504 |
Conagra Brands, Inc. 4.60% 2025 | 30,065 | 34,695 |
Conagra Brands, Inc. 5.30% 2038 | 3,060 | 4,000 |
Conagra Brands, Inc. 5.40% 2048 | 15,715 | 21,726 |
Constellation Brands, Inc. 2.65% 2022 | 14,125 | 14,739 |
Constellation Brands, Inc. 2.70% 2022 | 1,995 | 2,070 |
Constellation Brands, Inc. 3.20% 2023 | 10,638 | 11,295 |
Constellation Brands, Inc. 4.25% 2023 | 8,588 | 9,434 |
Constellation Brands, Inc. 3.70% 2026 | 3,350 | 3,741 |
Constellation Brands, Inc. 3.60% 2028 | 1,650 | 1,829 |
Constellation Brands, Inc. 3.15% 2029 | 13,210 | 14,189 |
Constellation Brands, Inc. 2.875% 2030 | 20,492 | 21,762 |
Constellation Brands, Inc. 4.10% 2048 | 1,000 | 1,158 |
Constellation Brands, Inc. 3.75% 2050 | 3,167 | 3,459 |
The Bond Fund of America — Page 19 of 58
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds & notes (continued) Consumer staples (continued) | Principal amount (000) | Value (000) |
Costco Wholesale Corp. 2.30% 2022 | $3,500 | $3,608 |
Costco Wholesale Corp. 2.75% 2024 | 14,500 | 15,745 |
Darling Ingredients Inc. 5.25% 20271 | 6,000 | 6,184 |
H.J. Heinz Co. 4.25% 20311 | 1,634 | 1,736 |
Imperial Tobacco Finance PLC 3.50% 20231 | 3,173 | 3,295 |
JBS Investments GmbH II 7.00% 20261 | 1,932 | 2,032 |
JBS Investments GmbH II 7.00% 2026 | 835 | 878 |
Keurig Dr Pepper Inc. 3.551% 2021 | 8,500 | 8,738 |
Keurig Dr Pepper Inc. 4.057% 2023 | 36,670 | 40,023 |
Keurig Dr Pepper Inc. 4.417% 2025 | 9,925 | 11,451 |
Keurig Dr Pepper Inc. 4.597% 2028 | 22,033 | 26,466 |
Keurig Dr Pepper Inc. 3.20% 2030 | 14,294 | 15,846 |
Keurig Dr Pepper Inc. 5.085% 2048 | 19,000 | 25,253 |
Keurig Dr Pepper Inc. 3.80% 2050 | 1,353 | 1,551 |
Kimberly-Clark Corp. 3.10% 2030 | 1,510 | 1,721 |
Kimberly-Clark de México, SAB de CV 2.431% 20311 | 2,510 | 2,531 |
Kraft Heinz Co. 3.95% 2025 | 7,390 | 7,901 |
Kraft Heinz Co. 3.00% 2026 | 2,810 | 2,843 |
Kraft Heinz Co. 4.375% 2046 | 7,500 | 7,382 |
Lamb Weston Holdings, Inc. 4.625% 20241 | 2,500 | 2,600 |
Molson Coors Brewing Co. 2.10% 2021 | 6,190 | 6,267 |
Molson Coors Brewing Co. 4.20% 2046 | 22,166 | 21,596 |
Nestlé Holdings, Inc. 3.35% 20231 | 26,000 | 28,277 |
PepsiCo, Inc. 3.625% 2050 | 25,720 | 31,368 |
Philip Morris International Inc. 2.50% 2022 | 16,500 | 17,202 |
Philip Morris International Inc. 2.875% 2024 | 11,985 | 12,890 |
Philip Morris International Inc. 1.50% 2025 | 1,286 | 1,319 |
Philip Morris International Inc. 3.375% 2029 | 13,550 | 15,416 |
Philip Morris International Inc. 2.10% 2030 | 909 | 938 |
Philip Morris International Inc. 4.875% 2043 | 8,500 | 10,950 |
Procter & Gamble Co. 2.80% 2027 | 647 | 721 |
Procter & Gamble Co. 3.00% 2030 | 1,183 | 1,357 |
Procter & Gamble Co. 3.55% 2040 | 20,000 | 24,173 |
Procter & Gamble Co. 3.60% 2050 | 3,314 | 4,138 |
Reckitt Benckiser Group PLC 2.375% 20221 | 10,935 | 11,270 |
Reckitt Benckiser Treasury Services PLC 2.75% 20241 | 4,305 | 4,579 |
Reynolds American Inc. 3.25% 2022 | 17,491 | 18,016 |
Reynolds American Inc. 4.45% 2025 | 10,635 | 11,989 |
Reynolds American Inc. 4.75% 2042 | 2,500 | 2,644 |
Reynolds American Inc. 5.85% 2045 | 10,195 | 12,785 |
Spectrum Brands Inc. 5.75% 2025 | 2,750 | 2,831 |
TreeHouse Foods, Inc. 6.00% 20241 | 2,555 | 2,613 |
Wal-Mart Stores, Inc. 3.125% 2021 | 7,500 | 7,710 |
Wal-Mart Stores, Inc. 2.35% 2022 | 4,000 | 4,189 |
Wal-Mart Stores, Inc. 3.40% 2023 | 2,975 | 3,233 |
Wal-Mart Stores, Inc. 2.85% 2024 | 29,935 | 32,576 |
Wal-Mart Stores, Inc. 3.05% 2026 | 16,440 | 18,563 |
Wal-Mart Stores, Inc. 3.70% 2028 | 5,694 | 6,751 |
WM. Wrigley Jr. Co. 3.375% 20201 | 41,650 | 41,929 |
| | 1,502,705 |
The Bond Fund of America — Page 20 of 58
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds & notes (continued) Communication services 2.41% | Principal amount (000) | Value (000) |
América Móvil, SAB de CV 8.46% 2036 | MXN27,000 | $1,204 |
AT&T Inc. 4.125% 2026 | $5,630 | 6,421 |
AT&T Inc. 2.30% 2027 | 40,225 | 41,595 |
AT&T Inc. 2.75% 2031 | 74,935 | 77,698 |
AT&T Inc. 3.50% 2041 | 8,400 | 8,854 |
AT&T Inc. 4.30% 2042 | 1,075 | 1,206 |
AT&T Inc. 4.35% 2045 | 14,907 | 16,795 |
AT&T Inc. 4.50% 2048 | 12,253 | 14,402 |
AT&T Inc. 3.65% 2051 | 14,285 | 14,971 |
Baidu Inc. 3.425% 2030 | 8,000 | 8,707 |
CCO Holdings LLC and CCO Holdings Capital Corp. 5.875% 20241 | 8,185 | 8,449 |
CCO Holdings LLC and CCO Holdings Capital Corp. 5.50% 20261 | 3,815 | 3,962 |
CCO Holdings LLC and CCO Holdings Capital Corp. 5.00% 20281 | 12,250 | 12,660 |
CCO Holdings LLC and CCO Holdings Capital Corp. 5.375% 20291 | 10,700 | 11,301 |
CCO Holdings LLC and CCO Holdings Capital Corp. 4.50% 20301 | 18,675 | 19,126 |
CCO Holdings LLC and CCO Holdings Capital Corp. 4.75% 20301 | 6,865 | 7,035 |
CCO Holdings LLC and CCO Holdings Capital Corp. 2.80% 2031 | 21,086 | 21,423 |
CCO Holdings LLC and CCO Holdings Capital Corp. 6.484% 2045 | 6,850 | 9,133 |
CCO Holdings LLC and CCO Holdings Capital Corp. 5.125% 2049 | 18,943 | 21,904 |
CCO Holdings LLC and CCO Holdings Capital Corp. 4.80% 2050 | 6,300 | 7,170 |
CCO Holdings LLC and CCO Holdings Capital Corp. 3.70% 2051 | 7,900 | 7,727 |
CenturyLink, Inc. 4.00% 20271 | 66,645 | 64,660 |
Comcast Corp. 3.95% 2025 | 10,500 | 12,041 |
Comcast Corp. 2.65% 2030 | 71,390 | 77,687 |
Comcast Corp. 1.95% 2031 | 13,186 | 13,461 |
Comcast Corp. 3.25% 2039 | 2,120 | 2,355 |
Comcast Corp. 3.75% 2040 | 9,600 | 11,332 |
Comcast Corp. 3.45% 2050 | 4,400 | 4,997 |
Comcast Corp. 2.80% 2051 | 13,700 | 14,073 |
CSC Holdings, LLC 5.375% 20231 | 7,600 | 7,716 |
Deutsche Telekom AG 3.625% 20501 | 23,130 | 25,694 |
Diamond Sports Group LLC 5.375% 20261 | 3,500 | 2,555 |
Digicel Group Ltd. 8.75% 20241 | 371 | 363 |
Digicel Group Ltd. 13.00% 20251,7 | 188 | 159 |
Digicel Group Ltd. 8.00% 20261 | 148 | 89 |
Discovery Communications, Inc. 3.625% 2030 | 12,119 | 13,282 |
Discovery Communications, Inc. 4.65% 2050 | 8,370 | 9,532 |
Embarq Corp. 7.995% 2036 | 7,150 | 8,045 |
Fox Corp. 4.03% 2024 | 4,090 | 4,537 |
Fox Corp. 3.05% 2025 | 1,962 | 2,125 |
Fox Corp. 3.50% 2030 | 30,189 | 33,773 |
Fox Corp. 5.576% 2049 | 8,355 | 11,783 |
Grupo Televisa, SAB 7.25% 2043 | MXN25,290 | 835 |
iHeartCommunications, Inc. 6.375% 2026 | $8,475 | 8,410 |
Level 3 Communications, Inc. 5.125% 2023 | 2,500 | 2,507 |
Level 3 Communications, Inc. 5.375% 2024 | 5,185 | 5,243 |
Level 3 Communications, Inc. 5.25% 2026 | 5,015 | 5,179 |
Level 3 Communications, Inc. 3.875% 20291 | 6,900 | 7,291 |
NBCUniversal Enterprise, Inc., junior subordinated, 5.25% 20491 | 29,045 | 29,122 |
Neptune Finco Corp. (Altice NV) 6.625% 20251 | 4,850 | 5,053 |
Netflix, Inc. 4.875% 2028 | 6,000 | 6,425 |
Netflix, Inc. 5.875% 2028 | 8,425 | 9,597 |
Netflix, Inc. 5.375% 20291 | 6,440 | 7,082 |
Netflix, Inc. 4.875% 20301 | 28,359 | 30,374 |
The Bond Fund of America — Page 21 of 58
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds & notes (continued) Communication services (continued) | Principal amount (000) | Value (000) |
Quebecor Media Inc. 5.75% 2023 | $3,600 | $3,780 |
Sirius XM Radio Inc. 3.875% 20221 | 2,500 | 2,518 |
Sirius XM Radio Inc. 4.625% 20231 | 5,000 | 5,041 |
Sirius XM Radio Inc. 4.625% 20241 | 2,500 | 2,571 |
SoftBank Group Corp. 3.36% 20231 | 7,172 | 7,270 |
Sprint Corp. 7.25% 2021 | 8,613 | 9,039 |
Sprint Corp. 7.875% 2023 | 6,163 | 6,949 |
Sprint Corp. 7.125% 2024 | 6,835 | 7,730 |
TEGNA Inc. 5.00% 20291 | 8,500 | 8,017 |
Tencent Holdings Ltd. 3.28% 20241 | 15,000 | 15,953 |
Tencent Holdings Ltd. 3.595% 2028 | 7,500 | 8,191 |
Tencent Holdings Ltd. 2.39% 20301 | 20,000 | 20,046 |
Tencent Holdings Ltd. 3.24% 20501 | 7,870 | 7,908 |
Tencent Holdings Ltd. 3.29% 20601 | 10,000 | 10,130 |
T-Mobile US, Inc. 6.00% 2024 | 3,175 | 3,254 |
T-Mobile US, Inc. 3.50% 20251 | 18,475 | 20,173 |
T-Mobile US, Inc. 1.50% 20261 | 4,900 | 4,912 |
T-Mobile US, Inc. 6.50% 2026 | 11,250 | 11,770 |
T-Mobile US, Inc. 3.75% 20271 | 28,200 | 31,323 |
T-Mobile US, Inc. 2.05% 20281 | 11,350 | 11,384 |
T-Mobile US, Inc. 4.75% 2028 | 9,066 | 9,588 |
T-Mobile US, Inc. 3.875% 20301 | 75,077 | 83,819 |
T-Mobile US, Inc. 2.55% 20311 | 10,052 | 10,113 |
T-Mobile US, Inc. 4.375% 20401 | 42,975 | 49,898 |
T-Mobile US, Inc. 4.50% 20501 | 52,246 | 61,674 |
Verizon Communications Inc. 4.329% 2028 | 15,497 | 18,669 |
Verizon Communications Inc. 3.875% 2029 | 2,071 | 2,454 |
Verizon Communications Inc. 4.016% 2029 | 11,077 | 13,267 |
Verizon Communications Inc. 3.15% 2030 | 25,738 | 29,153 |
Verizon Communications Inc. 4.40% 2034 | 10,000 | 12,439 |
Verizon Communications Inc. 5.25% 2037 | 1,075 | 1,457 |
Verizon Communications Inc. 3.85% 2042 | 855 | 1,045 |
Verizon Communications Inc. 4.125% 2046 | 1,425 | 1,783 |
Verizon Communications Inc. 4.00% 2050 | 5,850 | 7,399 |
Videotron Ltd. 5.375% 20241 | 3,100 | 3,311 |
Virgin Media Secured Finance PLC 5.50% 20291 | 5,000 | 5,278 |
Vodafone Group PLC 5.25% 2048 | 13,985 | 18,431 |
Vodafone Group PLC 4.25% 2050 | 20,375 | 23,979 |
Walt Disney Company 2.65% 2031 | 70,510 | 74,896 |
Walt Disney Company 4.70% 2050 | 10,000 | 13,098 |
Walt Disney Company 3.60% 2051 | 15,638 | 17,471 |
WPP Finance 2010 3.75% 2024 | 1,000 | 1,080 |
Ziggo Bond Finance BV 5.50% 20271 | 6,200 | 6,312 |
| | 1,423,693 |
Information technology 2.12% | | |
Adobe Inc 1.70% 2023 | 20,000 | 20,755 |
Adobe Inc. 1.90% 2025 | 14,746 | 15,582 |
Adobe Inc. 2.15% 2027 | 24,367 | 26,177 |
Adobe Inc. 2.30% 2030 | 24,569 | 26,561 |
Apple Inc. 1.125% 2025 | 5,088 | 5,185 |
Apple Inc. 2.65% 2050 | 11,574 | 11,993 |
Broadcom Corp. 3.875% 2027 | 32,260 | 34,904 |
Broadcom Inc. 3.625% 20241 | 6,000 | 6,524 |
The Bond Fund of America — Page 22 of 58
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds & notes (continued) Information technology (continued) | Principal amount (000) | Value (000) |
Broadcom Inc. 3.15% 20251 | $15,000 | $15,945 |
Broadcom Inc. 4.70% 20251 | 24,020 | 27,072 |
Broadcom Inc. 4.25% 20261 | 150,225 | 167,401 |
Broadcom Inc. 4.75% 20291 | 175,189 | 198,964 |
Broadcom Inc. 4.15% 20301 | 52,000 | 56,696 |
Broadcom Inc. 5.00% 20301 | 62,345 | 71,780 |
Broadcom Ltd. 2.65% 2023 | 16,500 | 17,128 |
Broadcom Ltd. 3.625% 2024 | 33,750 | 36,320 |
Broadcom Ltd. 3.50% 2028 | 22,732 | 24,032 |
CDW Corp. 4.125% 2025 | 5,275 | 5,305 |
Financial & Risk US Holdings, Inc. 6.25% 20261 | 5,675 | 6,029 |
Fiserv, Inc. 2.75% 2024 | 19,000 | 20,271 |
Fiserv, Inc. 2.25% 2027 | 14,395 | 15,074 |
Fiserv, Inc. 3.50% 2029 | 44,285 | 49,823 |
Fiserv, Inc. 2.65% 2030 | 28,731 | 30,375 |
Fiserv, Inc. 4.40% 2049 | 13,825 | 16,890 |
Gartner, Inc. 4.50% 20281 | 1,850 | 1,876 |
Global Payments Inc. 2.90% 2030 | 22,277 | 23,328 |
International Business Machines Corp. 3.00% 2024 | 32,750 | 35,485 |
International Business Machines Corp. 1.70% 2027 | 2,742 | 2,805 |
International Business Machines Corp. 1.95% 2030 | 17,645 | 18,083 |
Intuit Inc. 0.65% 2023 | 5,105 | 5,118 |
Intuit Inc. 0.95% 2025 | 1,670 | 1,674 |
Intuit Inc. 1.35% 2027 | 3,355 | 3,375 |
Intuit Inc. 1.65% 2030 | 5,065 | 5,058 |
Microsoft Corp. 3.125% 2025 | 5,750 | 6,455 |
MoneyGram International Inc., Term Loan B, (3-month USD-LIBOR + 6.00%) 7.00% 20233,6 | 2,948 | 2,749 |
NCR Corp. 8.125% 20251 | 1,020 | 1,086 |
NCR Corp. 5.75% 20271 | 2,500 | 2,506 |
Open Text Corp. 3.875% 20281 | 6,500 | 6,269 |
Oracle Corp. 1.90% 2021 | 12,250 | 12,459 |
Oracle Corp. 2.50% 2025 | 5,585 | 5,994 |
Oracle Corp. 3.60% 2050 | 53,765 | 60,879 |
PayPal Holdings, Inc. 2.40% 2024 | 43,150 | 45,853 |
PayPal Holdings, Inc. 2.65% 2026 | 12,234 | 13,306 |
PayPal Holdings, Inc. 2.85% 2029 | 12,580 | 13,793 |
PayPal Holdings, Inc. 2.30% 2030 | 5,749 | 5,987 |
PayPal Holdings, Inc. 3.25% 2050 | 4,859 | 5,317 |
Simon Property Group, LP 2.00% 2024 | 23,500 | 24,114 |
VeriSign, Inc. 4.625% 2023 | 5,800 | 5,851 |
Visa Inc. 2.15% 2022 | 4,535 | 4,715 |
Visa Inc. 1.90% 2027 | 10,958 | 11,471 |
Visa Inc. 2.05% 2030 | 11,822 | 12,419 |
Visa Inc. 2.70% 2040 | 4,936 | 5,304 |
Xerox Corp. 3.50% 2020 | 500 | 502 |
| | 1,250,617 |
Industrials 2.11% | | |
3M Co. 2.25% 2023 | 10,722 | 11,212 |
3M Co. 3.25% 2024 | 9,872 | 10,771 |
ABB Finance (USA) Inc. 2.875% 2022 | 1,000 | 1,039 |
ADT Corp. 3.50% 2022 | 13,100 | 13,062 |
Airbus Group SE 2.70% 20231 | 985 | 1,022 |
Avolon Holdings Funding Ltd. 3.625% 20221 | 8,000 | 7,545 |
The Bond Fund of America — Page 23 of 58
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds & notes (continued) Industrials (continued) | Principal amount (000) | Value (000) |
Avolon Holdings Funding Ltd. 3.95% 20241 | $35,726 | $31,284 |
Avolon Holdings Funding Ltd. 3.25% 20271 | 16,000 | 12,959 |
Boeing Co. 4.508% 2023 | 25,000 | 26,415 |
Boeing Co. 2.80% 2024 | 3,485 | 3,539 |
Boeing Co. 4.875% 2025 | 69,666 | 75,937 |
Boeing Co. 3.10% 2026 | 26,488 | 27,017 |
Boeing Co. 2.70% 2027 | 29,941 | 29,267 |
Boeing Co. 5.04% 2027 | 26,025 | 28,737 |
Boeing Co. 3.20% 2029 | 39,745 | 39,341 |
Boeing Co. 2.95% 2030 | 5,967 | 5,832 |
Boeing Co. 5.15% 2030 | 17,607 | 19,682 |
Boeing Co. 3.60% 2034 | 6,790 | 6,433 |
Boeing Co. 3.90% 2049 | 4,430 | 4,076 |
Bohai Financial Investment Holding Co., Ltd. 5.25% 20221 | 3,242 | 3,045 |
Burlington Northern Santa Fe LLC 3.05% 2051 | 8,385 | 9,147 |
BWX Technologies, Inc. 4.125% 20281 | 1,675 | 1,677 |
Canadian National Railway Co. 3.20% 2046 | 1,180 | 1,308 |
Carrier Global Corp. 2.242% 20251 | 21,661 | 22,233 |
Carrier Global Corp. 2.493% 20271 | 11,399 | 11,627 |
Carrier Global Corp. 2.722% 20301 | 52,349 | 52,580 |
Carrier Global Corp. 3.377% 20401 | 17,500 | 17,080 |
Carrier Global Corp. 3.577% 20501 | 13,124 | 12,863 |
Clean Harbors, Inc. 4.875% 20271 | 1,100 | 1,132 |
Clean Harbors, Inc. 5.125% 20291 | 10,000 | 10,401 |
Continental Airlines, Inc., Series 2001-1, Class A1, 6.703% 2022 | 1,920 | 1,853 |
Continental Airlines, Inc., Series 2000-2, Class A1, 7.707% 2022 | 968 | 928 |
Continental Airlines, Inc., Series 2000-1, Class A1, 8.048% 2022 | —9 | —9 |
CSX Corp. 3.80% 2028 | 2,460 | 2,842 |
CSX Corp. 4.25% 2029 | 4,277 | 5,121 |
CSX Corp. 2.40% 2030 | 17,855 | 18,898 |
Deere & Co. 3.75% 2050 | 9,807 | 12,116 |
Delta Air Lines, Inc. 7.00% 20251 | 7,250 | 7,492 |
Delta Air Lines, Inc., Series 2002-1, Class G-1, MBIA insured, 6.718% 2024 | 791 | 776 |
DP World Crescent 4.848% 20281 | 3,180 | 3,360 |
Dun & Bradstreet Corp. 6.875% 20261 | 10,120 | 10,751 |
Empresa de Transporte de Pasajeros Metro SA 4.70% 20501 | 7,450 | 8,558 |
ENA Norte Trust 4.95% 20281 | 5,611 | 5,548 |
ENA Norte Trust 4.95% 2028 | 517 | 512 |
F-Brasile SpA 7.375% 20261 | 1,790 | 1,382 |
Fortive Corp. 2.35% 2021 | 3,550 | 3,595 |
GE Capital Funding, LLC 3.45% 20251 | 1,000 | 1,048 |
GE Capital International Funding Co. 4.418% 2035 | 45,567 | 46,313 |
General Dynamics Corp. 3.375% 2023 | 6,645 | 7,192 |
General Dynamics Corp. 3.50% 2025 | 8,025 | 9,008 |
General Dynamics Corp. 3.75% 2028 | 4,895 | 5,715 |
General Dynamics Corp. 3.625% 2030 | 4,186 | 4,906 |
General Dynamics Corp. 4.25% 2050 | 2,091 | 2,729 |
General Electric Capital Corp. 3.373% 2025 | 32,950 | 34,599 |
General Electric Capital Corp. 6.15% 2037 | 3,050 | 3,540 |
General Electric Co. 3.45% 2027 | 12,013 | 12,334 |
General Electric Co. 3.625% 2030 | 34,527 | 34,629 |
General Electric Co. 4.25% 2040 | 14,050 | 13,842 |
General Electric Co. 4.125% 2042 | 40 | 38 |
General Electric Co. 4.35% 2050 | 20,725 | 20,573 |
The Bond Fund of America — Page 24 of 58
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds & notes (continued) Industrials (continued) | Principal amount (000) | Value (000) |
Hardwoods Acquisition Inc. 7.50% 20211 | $4,780 | $1,745 |
Harris Corp. 3.832% 2025 | 885 | 989 |
Honeywell International Inc. 2.30% 2024 | 22,497 | 24,001 |
Honeywell International Inc. 1.35% 2025 | 165 | 170 |
Honeywell International Inc. 2.70% 2029 | 9,333 | 10,341 |
Honeywell International Inc. 1.95% 2030 | 21,500 | 22,493 |
Honeywell International Inc. 2.80% 2050 | 400 | 428 |
Icahn Enterprises Finance Corp. 4.75% 2024 | 2,500 | 2,366 |
Icahn Enterprises Finance Corp. 6.25% 2026 | 5,200 | 5,219 |
Lima Metro Line 2 Finance Ltd. 5.875% 20341 | 3,167 | 3,745 |
Lima Metro Line 2 Finance Ltd. 4.35% 20361 | 465 | 497 |
Lockheed Martin Corp. 1.85% 2030 | 2,175 | 2,232 |
Lockheed Martin Corp. 2.80% 2050 | 2,365 | 2,502 |
Masonite International Corp. 5.75% 20261 | 3,500 | 3,617 |
Mexico City Airport Trust 4.25% 2026 | 200 | 189 |
Mexico City Airport Trust 3.875% 2028 | 8,400 | 7,645 |
Mexico City Airport Trust 5.50% 2046 | 3,369 | 2,977 |
Mexico City Airport Trust 5.50% 2047 | 7,316 | 6,461 |
Mexico City Airport Trust 5.50% 20471 | 2,313 | 2,043 |
Norfolk Southern Corp. 3.05% 2050 | 1,314 | 1,359 |
Northrop Grumman Corp. 2.55% 2022 | 8,955 | 9,348 |
Northrop Grumman Corp. 2.93% 2025 | 25,040 | 27,068 |
Northrop Grumman Corp. 3.25% 2028 | 7,425 | 8,301 |
Northrop Grumman Corp. 5.25% 2050 | 12,904 | 18,636 |
Otis Worldwide Corp. 2.056% 20251 | 27,382 | 28,728 |
Otis Worldwide Corp. 2.293% 20271 | 4,000 | 4,183 |
Otis Worldwide Corp. 2.565% 20301 | 5,900 | 6,200 |
Otis Worldwide Corp. 3.362% 20501 | 1,500 | 1,595 |
Parker-Hannifin Corp. 3.25% 2029 | 2,615 | 2,894 |
Prime Security Services Borrower, LLC 5.25% 20241 | 2,500 | 2,563 |
Prime Security Services Borrower, LLC 5.75% 20261 | 2,000 | 2,077 |
Raytheon Technologies Corp. 2.80% 20221 | 9,010 | 9,298 |
Raytheon Technologies Corp. 3.20% 20241 | 10,105 | 10,880 |
Republic Services, Inc. 2.50% 2024 | 7,000 | 7,450 |
Roper Technologies, Inc. 2.80% 2021 | 468 | 482 |
Rutas 2 and 7 Finance Ltd. 0% 20361 | 1,795 | 1,176 |
Siemens AG 1.70% 20211 | 13,500 | 13,708 |
Siemens AG 2.70% 20221 | 29,620 | 30,756 |
Siemens AG 2.90% 20221 | 10,000 | 10,458 |
Siemens AG 2.35% 20261 | 6,430 | 6,896 |
Spirit AeroSystems, Inc. 7.50% 20251 | 2,735 | 2,709 |
Stericycle, Inc. 5.375% 20241 | 5,000 | 5,138 |
TransDigm Inc. 6.25% 20261 | 656 | 657 |
Union Pacific Corp. 3.15% 2024 | 5,705 | 6,199 |
Union Pacific Corp. 2.15% 2027 | 4,740 | 5,018 |
Union Pacific Corp. 3.70% 2029 | 14,705 | 17,195 |
Union Pacific Corp. 2.40% 2030 | 9,549 | 10,228 |
Union Pacific Corp. 4.30% 2049 | 4,550 | 5,836 |
Union Pacific Corp. 3.25% 2050 | 18,198 | 19,997 |
Union Pacific Corp. 3.95% 2059 | 11,880 | 14,281 |
United Airlines Holdings, Inc. 6.50% 20271 | 10,440 | 10,492 |
United Rentals, Inc. 4.625% 2025 | 3,647 | 3,672 |
United Rentals, Inc. 5.875% 2026 | 2,353 | 2,469 |
United Technologies Corp. 3.65% 2023 | 437 | 473 |
The Bond Fund of America — Page 25 of 58
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds & notes (continued) Industrials (continued) | Principal amount (000) | Value (000) |
United Technologies Corp. 3.95% 2025 | $17,415 | $19,898 |
United Technologies Corp. 3.125% 2027 | 1,000 | 1,109 |
United Technologies Corp. 4.125% 2028 | 6,320 | 7,453 |
United Technologies Corp. 4.50% 2042 | 1,625 | 2,015 |
Vinci SA 3.75% 20291 | 7,514 | 8,674 |
WESCO Distribution, Inc. 7.125% 20251 | 2,165 | 2,289 |
WESCO Distribution, Inc. 7.25% 20281 | 2,355 | 2,489 |
Westinghouse Air Brake Technologies Corp. 4.40% 20242 | 9,676 | 10,270 |
XPO Logistics, Inc. 6.75% 20241 | 1,500 | 1,575 |
XPO Logistics, Inc. 6.25% 20251 | 5,000 | 5,247 |
| | 1,247,560 |
Real estate 0.75% | | |
Alexandria Real Estate Equities, Inc. 3.80% 2026 | 4,085 | 4,589 |
Alexandria Real Estate Equities, Inc. 4.30% 2026 | 1,440 | 1,641 |
Alexandria Real Estate Equities, Inc. 3.95% 2028 | 1,070 | 1,222 |
Alexandria Real Estate Equities, Inc. 2.75% 2029 | 1,213 | 1,296 |
Alexandria Real Estate Equities, Inc. 4.50% 2029 | 2,110 | 2,531 |
Alexandria Real Estate Equities, Inc. 3.375% 2031 | 2,615 | 2,919 |
American Campus Communities, Inc. 3.75% 2023 | 15,160 | 15,578 |
American Campus Communities, Inc. 4.125% 2024 | 11,740 | 12,350 |
American Campus Communities, Inc. 3.30% 2026 | 18,950 | 19,459 |
American Campus Communities, Inc. 3.625% 2027 | 1,865 | 1,918 |
American Campus Communities, Inc. 2.85% 2030 | 5,814 | 5,621 |
American Campus Communities, Inc. 3.875% 2031 | 2,944 | 3,092 |
Equinix, Inc. 2.625% 2024 | 40,151 | 42,825 |
Equinix, Inc. 1.25% 2025 | 4,470 | 4,491 |
Equinix, Inc. 2.90% 2026 | 24,462 | 26,425 |
Equinix, Inc. 1.80% 2027 | 2,646 | 2,662 |
Equinix, Inc. 3.20% 2029 | 27,854 | 30,282 |
Equinix, Inc. 2.15% 2030 | 31,804 | 31,536 |
Equinix, Inc. 3.00% 2050 | 6,455 | 6,314 |
Essex Portfolio LP 3.625% 2022 | 4,370 | 4,584 |
Essex Portfolio LP 3.25% 2023 | 4,610 | 4,858 |
Essex Portfolio LP 3.875% 2024 | 5,500 | 5,992 |
Essex Portfolio LP 3.375% 2026 | 1,070 | 1,163 |
Essex Portfolio LP 4.00% 2029 | 1,960 | 2,281 |
Federal Realty REIT Investment Trust 3.50% 2030 | 7,136 | 7,532 |
Gaming and Leisure Properties, Inc. 3.35% 2024 | 912 | 915 |
Gaming and Leisure Properties, Inc. 4.00% 2030 | 2,564 | 2,555 |
Hospitality Properties Trust 4.25% 2021 | 1,224 | 1,224 |
Hospitality Properties Trust 5.00% 2022 | 14,650 | 14,393 |
Hospitality Properties Trust 4.50% 2023 | 9,680 | 9,272 |
Hospitality Properties Trust 4.50% 2025 | 6,875 | 6,156 |
Hospitality Properties Trust 3.95% 2028 | 100 | 81 |
Howard Hughes Corp. 5.375% 20251 | 16,500 | 15,406 |
Iron Mountain Inc. 4.875% 20271 | 1,605 | 1,568 |
Iron Mountain Inc. 5.25% 20281 | 12,959 | 12,924 |
Iron Mountain Inc. 4.875% 20291 | 11,137 | 10,842 |
Iron Mountain Inc. 5.25% 20301 | 3,450 | 3,389 |
Kimco Realty Corp. 3.40% 2022 | 8,655 | 9,009 |
Kimco Realty Corp. 3.125% 2023 | 3,175 | 3,240 |
Kimco Realty Corp. 2.70% 2024 | 16,980 | 17,470 |
Kimco Realty Corp. 3.30% 2025 | 5,000 | 5,254 |
The Bond Fund of America — Page 26 of 58
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds & notes (continued) Real estate (continued) | Principal amount (000) | Value (000) |
Omega Healthcare Investors, Inc. 4.375% 2023 | $2,100 | $2,182 |
Piedmont Operating Partnership LP 3.40% 2023 | 2,800 | 2,847 |
Piedmont Operating Partnership LP 4.45% 2024 | 3,000 | 3,078 |
Scentre Group 2.375% 20211 | 11,410 | 11,465 |
Scentre Group 3.25% 20251 | 1,265 | 1,302 |
Scentre Group 3.50% 20251 | 7,550 | 7,873 |
WEA Finance LLC 3.25% 20201 | 11,935 | 11,951 |
WEA Finance LLC 3.75% 20241 | 2,480 | 2,561 |
Westfield Corp. Ltd. 3.15% 20221 | 32,440 | 32,931 |
Westfield Corp. Ltd. 3.50% 20291 | 7,330 | 7,118 |
| | 440,167 |
Materials 0.67% | | |
Air Liquide SA 2.25% 20291 | 3,643 | 3,766 |
Air Products and Chemicals, Inc. 1.50% 2025 | 1,714 | 1,774 |
Air Products and Chemicals, Inc. 1.85% 2027 | 802 | 841 |
Air Products and Chemicals, Inc. 2.05% 2030 | 4,041 | 4,252 |
Air Products and Chemicals, Inc. 2.70% 2040 | 12,619 | 13,433 |
Air Products and Chemicals, Inc. 2.80% 2050 | 5,784 | 6,149 |
Anglo American Capital PLC 5.625% 20301 | 14,000 | 16,939 |
ArcelorMittal 3.60% 2024 | 3,089 | 3,063 |
Ardagh Packaging Finance 5.25% 20251 | 3,640 | 3,742 |
Ardagh Packaging Finance 4.125% 20261 | 2,500 | 2,478 |
Ball Corp. 4.00% 2023 | 6,000 | 6,229 |
Berry Global Escrow Corp. 4.875% 20261 | 9,875 | 10,033 |
BHP Billiton Finance Ltd. 6.25% 2075 (USD Semi Annual 30/360 (vs. 3-month USD-LIBOR) 5-year + 4.971% on 10/19/2020)1,2 | 6,440 | 6,483 |
Blue Cube Spinco Inc. 9.75% 2023 | 6,300 | 6,509 |
Blue Cube Spinco Inc. 10.00% 2025 | 3,000 | 3,127 |
Braskem Finance Ltd. 6.45% 2024 | 650 | 714 |
Braskem Idesa Sapi 7.45% 20291 | 1,540 | 1,444 |
Braskem SA 4.50% 20301 | 10,625 | 9,741 |
Braskem SA 4.50% 2030 | 1,350 | 1,238 |
Braskem SA 5.875% 20501 | 4,000 | 3,531 |
BWAY Parent Co., Inc. 5.50% 20241 | 6,500 | 6,398 |
Chevron Phillips Chemical Co. LLC 3.30% 20231 | 9,250 | 9,671 |
Chevron Phillips Chemical Co. LLC 3.70% 20281 | 3,000 | 3,195 |
Cleveland-Cliffs Inc. 4.875% 20241 | 7,500 | 7,077 |
Cleveland-Cliffs Inc. 9.875% 20251 | 5,975 | 6,279 |
Cleveland-Cliffs Inc. 6.75% 20261 | 1,035 | 1,001 |
Corp Nacional Del Cobre De Chile 3.75% 20311 | 8,000 | 8,747 |
CRH America, Inc. 3.875% 20251 | 2,000 | 2,208 |
CRH America, Inc. 5.125% 20451 | 2,000 | 2,337 |
Crown Holdings, Inc. 4.50% 2023 | 2,500 | 2,558 |
Crown Holdings, Inc. 4.25% 2026 | 4,000 | 4,114 |
Dow Chemical Co. 3.15% 2024 | 1,645 | 1,758 |
Dow Chemical Co. 3.625% 2026 | 14,418 | 15,899 |
Dow Chemical Co. 4.80% 2028 | 4,000 | 4,796 |
Dow Chemical Co. 4.625% 2044 | 1,100 | 1,269 |
Dow Chemical Co. 5.55% 2048 | 8,600 | 11,305 |
Dow Chemical Co. 4.80% 2049 | 10,227 | 12,224 |
DowDuPont Inc. 5.419% 2048 | 12,159 | 16,151 |
E.I. du Pont de Nemours and Co. 1.70% 2025 | 1,493 | 1,543 |
E.I. du Pont de Nemours and Co. 2.30% 2030 | 4,473 | 4,659 |
The Bond Fund of America — Page 27 of 58
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds & notes (continued) Materials (continued) | Principal amount (000) | Value (000) |
FMG Resources 4.75% 20221 | $6,300 | $6,435 |
Freeport-McMoRan Inc. 3.875% 2023 | 9,000 | 9,030 |
Glencore Funding LLC 4.125% 20241 | 25,850 | 27,737 |
Graphic Packaging International, Inc. 3.50% 20281 | 8,000 | 7,958 |
Holcim Ltd. 5.15% 20231 | 3,105 | 3,408 |
LYB International Finance III, LLC 2.875% 2025 | 4,000 | 4,264 |
LYB International Finance III, LLC 3.375% 2030 | 2,000 | 2,145 |
LYB International Finance III, LLC 4.20% 2049 | 1,740 | 1,888 |
LYB International Finance III, LLC 4.20% 2050 | 5,500 | 5,949 |
LyondellBasell Industries NV 6.00% 2021 | 900 | 951 |
Mosaic Co. 4.05% 2027 | 1,000 | 1,063 |
Newcrest Finance Pty Ltd. 3.25% 20301 | 5,229 | 5,595 |
Newcrest Finance Pty Ltd. 4.20% 20501 | 2,414 | 2,705 |
Nova Chemicals Corp. 4.875% 20241 | 2,000 | 1,870 |
Nova Chemicals Corp. 5.25% 20271 | 7,500 | 6,601 |
Nutrien Ltd. 4.20% 2029 | 500 | 581 |
Nutrien Ltd. 2.95% 2030 | 6,301 | 6,691 |
Nutrien Ltd. 5.00% 2049 | 3,850 | 4,966 |
Nutrien Ltd. 3.95% 2050 | 500 | 554 |
OCI NV 5.25% 20241 | 3,500 | 3,373 |
Olin Corp. 9.50% 20251 | 2,950 | 3,295 |
Praxair, Inc. 3.00% 2021 | 2,850 | 2,937 |
S.P.C.M. SA 4.875% 20251 | 695 | 703 |
Sealed Air Corp. 4.875% 20221 | 3,139 | 3,236 |
Sealed Air Corp. 5.25% 20231 | 111 | 116 |
Sherwin-Williams Co. 2.75% 2022 | 212 | 219 |
Sherwin-Williams Co. 3.125% 2024 | 7,250 | 7,799 |
Sherwin-Williams Co. 3.45% 2027 | 112 | 125 |
Sherwin-Williams Co. 2.95% 2029 | 5,150 | 5,546 |
Sherwin-Williams Co. 2.30% 2030 | 1,271 | 1,299 |
Sherwin-Williams Co. 4.50% 2047 | 2,601 | 3,170 |
Sherwin-Williams Co. 3.30% 2050 | 1,700 | 1,730 |
Silgan Holdings Inc. 4.75% 2025 | 5,000 | 5,082 |
Silgan Holdings Inc. 4.125% 20281 | 2,500 | 2,484 |
Suzano Austria GmbH 6.00% 2029 | 3,500 | 3,788 |
Teck Resources Ltd. 3.90% 20301 | 3,432 | 3,431 |
Westlake Chemical Corp. 5.00% 2046 | 7,090 | 7,545 |
Westlake Chemical Corp. 4.375% 2047 | 1,960 | 1,942 |
Yara International ASA 3.148% 20301 | 9,933 | 10,348 |
| | 397,234 |
Total corporate bonds & notes | | 20,114,868 |
Mortgage-backed obligations 33.81% Federal agency mortgage-backed obligations 32.29% | | |
Fannie Mae 7.00% 203610 | 126 | 135 |
Fannie Mae 6.00% 203710 | 4 | 4 |
Fannie Mae 7.00% 203710 | 153 | 168 |
Fannie Mae 7.00% 203710 | 106 | 116 |
Fannie Mae 7.00% 203710 | 86 | 90 |
Fannie Mae 7.50% 203710 | 106 | 113 |
Fannie Mae 7.50% 203710 | 59 | 69 |
Fannie Mae 7.50% 203710 | 46 | 54 |
Fannie Mae 4.50% 204610 | 1,305 | 1,378 |
The Bond Fund of America — Page 28 of 58
unaudited
Bonds, notes & other debt instruments (continued) Mortgage-backed obligations (continued) Federal agency mortgage-backed obligations (continued) | Principal amount (000) | Value (000) |
Fannie Mae 4.50% 204610 | $581 | $611 |
Fannie Mae 4.50% 204710 | 2,175 | 2,288 |
Fannie Mae 7.00% 204710 | 12 | 14 |
Fannie Mae Pool #976945 5.50% 202310 | 5 | 6 |
Fannie Mae Pool #976948 6.00% 202310 | 36 | 37 |
Fannie Mae Pool #932119 4.50% 202410 | 1,265 | 1,350 |
Fannie Mae Pool #AD6392 4.50% 202510 | 1,361 | 1,452 |
Fannie Mae Pool #AD3149 4.50% 202510 | 757 | 808 |
Fannie Mae Pool #AD5692 4.50% 202510 | 732 | 782 |
Fannie Mae Pool #AB1068 4.50% 202510 | 5 | 5 |
Fannie Mae Pool #AJ5476 3.00% 202610 | 222 | 234 |
Fannie Mae Pool #MA3131 3.00% 202710 | 129 | 136 |
Fannie Mae Pool #MA2973 3.00% 202710 | 15 | 16 |
Fannie Mae Pool #AL7800 2.50% 203010 | 6,595 | 7,002 |
Fannie Mae Pool #BM4299 3.00% 203010 | 21 | 22 |
Fannie Mae Pool #AL9668 3.00% 203010 | 20 | 21 |
Fannie Mae Pool #AZ4646 3.50% 203010 | 455 | 481 |
Fannie Mae Pool #AZ0554 3.50% 203010 | 329 | 347 |
Fannie Mae Pool #AY1948 3.50% 203010 | 276 | 292 |
Fannie Mae Pool #AS8388 2.50% 203110 | 5,319 | 5,634 |
Fannie Mae Pool #AS7323 2.50% 203110 | 4,082 | 4,351 |
Fannie Mae Pool #CA3178 3.00% 203110 | 1,218 | 1,287 |
Fannie Mae Pool #890710 3.00% 203110 | 24 | 25 |
Fannie Mae Pool #FM1162 2.50% 203210 | 4,037 | 4,293 |
Fannie Mae Pool #BM1036 2.50% 203210 | 479 | 507 |
Fannie Mae Pool #BH7659 3.00% 203210 | 18,162 | 19,118 |
Fannie Mae Pool #CA3274 3.00% 203210 | 821 | 866 |
Fannie Mae Pool #BH9235 3.00% 203310 | 1,592 | 1,692 |
Fannie Mae Pool #MA3409 3.00% 203310 | 1,448 | 1,522 |
Fannie Mae Pool #BJ4890 3.00% 203310 | 805 | 855 |
Fannie Mae Pool #BK5161 3.00% 203310 | 746 | 784 |
Fannie Mae Pool #BK1112 3.00% 203310 | 714 | 750 |
Fannie Mae Pool #BJ4685 3.00% 203310 | 703 | 740 |
Fannie Mae Pool #MA3247 3.00% 203310 | 534 | 561 |
Fannie Mae Pool #MA3461 3.00% 203310 | 519 | 546 |
Fannie Mae Pool #BJ4856 3.00% 203310 | 509 | 541 |
Fannie Mae Pool #BK6720 3.00% 203310 | 512 | 539 |
Fannie Mae Pool #BM5111 3.00% 203310 | 493 | 525 |
Fannie Mae Pool #BK7453 3.00% 203310 | 492 | 519 |
Fannie Mae Pool #BK5466 3.00% 203310 | 465 | 489 |
Fannie Mae Pool #MA3516 3.00% 203310 | 407 | 427 |
Fannie Mae Pool #BJ5705 3.00% 203310 | 320 | 336 |
Fannie Mae Pool #MA3283 3.00% 203310 | 316 | 332 |
Fannie Mae Pool #BK7123 3.00% 203310 | 283 | 298 |
Fannie Mae Pool #BK9015 3.00% 203310 | 255 | 268 |
Fannie Mae Pool #BK5472 3.00% 203310 | 36 | 38 |
Fannie Mae Pool #CA2106 3.50% 203310 | 321 | 339 |
Fannie Mae Pool #MA3518 4.00% 203310 | 56 | 59 |
Fannie Mae Pool #695412 5.00% 203310 | 9 | 11 |
Fannie Mae Pool #CA4453 2.50% 203410 | 7,772 | 8,145 |
Fannie Mae Pool #BO1359 2.50% 203410 | 3,769 | 3,993 |
Fannie Mae Pool #FM1490 3.50% 203410 | 11,446 | 12,104 |
Fannie Mae Pool #AD3566 5.00% 203510 | 116 | 127 |
Fannie Mae Pool #AS8355 3.00% 203610 | 20,014 | 21,202 |
The Bond Fund of America — Page 29 of 58
unaudited
Bonds, notes & other debt instruments (continued) Mortgage-backed obligations (continued) Federal agency mortgage-backed obligations (continued) | Principal amount (000) | Value (000) |
Fannie Mae Pool #AS8554 3.00% 203610 | $2,253 | $2,387 |
Fannie Mae Pool #MA2746 4.00% 203610 | 4,317 | 4,649 |
Fannie Mae Pool #MA2588 4.00% 203610 | 3,261 | 3,512 |
Fannie Mae Pool #MA2787 4.00% 203610 | 2,178 | 2,346 |
Fannie Mae Pool #MA2717 4.00% 203610 | 2,071 | 2,230 |
Fannie Mae Pool #AS6870 4.00% 203610 | 899 | 969 |
Fannie Mae Pool #MA2897 3.00% 203710 | 43,722 | 46,312 |
Fannie Mae Pool #MA2866 3.00% 203710 | 24,901 | 26,304 |
Fannie Mae Pool #924866 3.265% 20373,10 | 29 | 29 |
Fannie Mae Pool #945680 6.00% 203710 | 34 | 39 |
Fannie Mae Pool #954936 7.00% 203710 | 40 | 44 |
Fannie Mae Pool #889101 3.26% 20383,10 | 138 | 142 |
Fannie Mae Pool #964279 4.094% 20383,10 | 115 | 117 |
Fannie Mae Pool #964708 4.64% 20383,10 | 15 | 15 |
Fannie Mae Pool #889982 5.50% 203810 | 33 | 38 |
Fannie Mae Pool #988588 5.50% 203810 | 6 | 7 |
Fannie Mae Pool #AC2641 4.50% 203910 | 6,371 | 7,086 |
Fannie Mae Pool #AC0794 5.00% 203910 | 545 | 626 |
Fannie Mae Pool #931768 5.00% 203910 | 93 | 106 |
Fannie Mae Pool #AE7629 3.724% 20403,10 | 95 | 99 |
Fannie Mae Pool #AL9335 3.872% 20403,10 | 5,688 | 5,974 |
Fannie Mae Pool #AE7567 4.00% 204010 | 4,734 | 5,197 |
Fannie Mae Pool #AE1761 4.00% 204010 | 4,369 | 4,797 |
Fannie Mae Pool #AH0007 4.00% 204010 | 4,293 | 4,718 |
Fannie Mae Pool #AH0539 4.00% 204010 | 975 | 1,071 |
Fannie Mae Pool #AE8073 4.00% 204010 | 727 | 809 |
Fannie Mae Pool #AD8522 4.00% 204010 | 225 | 247 |
Fannie Mae Pool #AE5471 4.50% 204010 | 1,250 | 1,392 |
Fannie Mae Pool #AB1297 5.00% 204010 | 522 | 600 |
Fannie Mae Pool #932606 5.00% 204010 | 289 | 332 |
Fannie Mae Pool #AL9327 3.406% 20413,10 | 5,062 | 5,329 |
Fannie Mae Pool #AL9326 3.743% 20413,10 | 7,175 | 7,554 |
Fannie Mae Pool #AL0073 3.768% 20413,10 | 362 | 380 |
Fannie Mae Pool #AE0789 3.788% 20413,10 | 481 | 506 |
Fannie Mae Pool #AE0844 3.825% 20413,10 | 436 | 459 |
Fannie Mae Pool #AL9531 3.869% 20413,10 | 4,239 | 4,459 |
Fannie Mae Pool #AJ7471 4.00% 204110 | 1,567 | 1,722 |
Fannie Mae Pool #AB4050 4.00% 204110 | 1,161 | 1,292 |
Fannie Mae Pool #AI5172 4.00% 204110 | 943 | 1,036 |
Fannie Mae Pool #AJ4189 4.00% 204110 | 783 | 872 |
Fannie Mae Pool #AJ4154 4.00% 204110 | 729 | 811 |
Fannie Mae Pool #AJ1873 4.00% 204110 | 730 | 802 |
Fannie Mae Pool #AJ0257 4.00% 204110 | 297 | 331 |
Fannie Mae Pool #AL0658 4.50% 204110 | 1,350 | 1,503 |
Fannie Mae Pool #AH6099 5.00% 204110 | 2,492 | 2,852 |
Fannie Mae Pool #AI1862 5.00% 204110 | 2,463 | 2,842 |
Fannie Mae Pool #AI3510 5.00% 204110 | 1,549 | 1,787 |
Fannie Mae Pool #AJ0704 5.00% 204110 | 1,276 | 1,472 |
Fannie Mae Pool #AJ5391 5.00% 204110 | 751 | 848 |
Fannie Mae Pool #AE1248 5.00% 204110 | 707 | 805 |
Fannie Mae Pool #AE1274 5.00% 204110 | 541 | 623 |
Fannie Mae Pool #AE1277 5.00% 204110 | 296 | 336 |
Fannie Mae Pool #AE1283 5.00% 204110 | 185 | 207 |
Fannie Mae Pool #AH8144 5.00% 204110 | 87 | 101 |
The Bond Fund of America — Page 30 of 58
unaudited
Bonds, notes & other debt instruments (continued) Mortgage-backed obligations (continued) Federal agency mortgage-backed obligations (continued) | Principal amount (000) | Value (000) |
Fannie Mae Pool #AH9479 5.00% 204110 | $85 | $98 |
Fannie Mae Pool #AP7553 3.00% 204210 | 17,875 | 19,159 |
Fannie Mae Pool #AL9533 3.325% 20423,10 | 2,351 | 2,463 |
Fannie Mae Pool #AL2000 3.435% 20423,10 | 602 | 628 |
Fannie Mae Pool #AL1941 3.574% 20423,10 | 687 | 718 |
Fannie Mae Pool #AL2184 3.575% 20423,10 | 917 | 959 |
Fannie Mae Pool #AL9532 3.636% 20423,10 | 5,633 | 5,891 |
Fannie Mae Pool #AL9530 3.732% 20423,10 | 3,886 | 4,082 |
Fannie Mae Pool #AP7819 3.91% 20423,10 | 466 | 485 |
Fannie Mae Pool #AX3703 4.00% 204210 | 7,695 | 8,452 |
Fannie Mae Pool #AK6740 4.00% 204210 | 6,926 | 7,757 |
Fannie Mae Pool #AL2745 4.00% 204210 | 5,738 | 6,386 |
Fannie Mae Pool #890407 4.00% 204210 | 1,907 | 2,121 |
Fannie Mae Pool #AK4949 4.00% 204210 | 512 | 563 |
Fannie Mae Pool #AE1290 5.00% 204210 | 428 | 486 |
Fannie Mae Pool #AT5898 3.00% 204310 | 36,890 | 39,544 |
Fannie Mae Pool #AL3829 3.50% 204310 | 6,453 | 7,061 |
Fannie Mae Pool #AT7161 3.50% 204310 | 3,019 | 3,285 |
Fannie Mae Pool #AR1512 3.50% 204310 | 1,332 | 1,453 |
Fannie Mae Pool #AT0412 3.50% 204310 | 700 | 765 |
Fannie Mae Pool #AT3954 3.50% 204310 | 403 | 441 |
Fannie Mae Pool #AT0300 3.50% 204310 | 254 | 274 |
Fannie Mae Pool #AV0786 4.00% 204310 | 6,056 | 6,702 |
Fannie Mae Pool #AT2683 4.00% 204310 | 5,438 | 5,975 |
Fannie Mae Pool #AL8421 3.50% 204410 | 29,508 | 31,948 |
Fannie Mae Pool #AX8521 3.50% 204410 | 604 | 661 |
Fannie Mae Pool #AY1829 3.50% 204410 | 448 | 490 |
Fannie Mae Pool #AW8240 3.50% 204410 | 90 | 95 |
Fannie Mae Pool #BM6240 3.688% 20443,10 | 5,687 | 5,967 |
Fannie Mae Pool #AX0817 4.00% 204410 | 622 | 679 |
Fannie Mae Pool #BE5017 3.50% 204510 | 3,678 | 3,997 |
Fannie Mae Pool #BE5009 3.50% 204510 | 3,457 | 3,716 |
Fannie Mae Pool #AZ7366 4.00% 204510 | 39,474 | 43,675 |
Fannie Mae Pool #AS6348 4.00% 204510 | 6,420 | 7,103 |
Fannie Mae Pool #FM2834 3.00% 204610 | 115,323 | 123,617 |
Fannie Mae Pool #BC4764 3.00% 204610 | 6,067 | 6,425 |
Fannie Mae Pool #MA2833 3.00% 204610 | 98 | 104 |
Fannie Mae Pool #BC9077 3.50% 204610 | 34,092 | 36,674 |
Fannie Mae Pool #BD9236 3.50% 204610 | 866 | 932 |
Fannie Mae Pool #AL8522 3.50% 204610 | 63 | 68 |
Fannie Mae Pool #AS6839 4.00% 204610 | 9,963 | 10,889 |
Fannie Mae Pool #BC1352 4.00% 204610 | 3,569 | 3,855 |
Fannie Mae Pool #BD1968 4.00% 204610 | 110 | 120 |
Fannie Mae Pool #BC8647 4.50% 204610 | 1,407 | 1,533 |
Fannie Mae Pool #BD1550 4.50% 204610 | 647 | 705 |
Fannie Mae Pool #BD7529 4.50% 204610 | 644 | 705 |
Fannie Mae Pool #BD9248 4.50% 204610 | 455 | 490 |
Fannie Mae Pool #BD7600 4.50% 204610 | 378 | 407 |
Fannie Mae Pool #BD2440 3.50% 204710 | 5,096 | 5,409 |
Fannie Mae Pool #BE8740 3.50% 204710 | 3,357 | 3,649 |
Fannie Mae Pool #BJ2524 3.50% 204710 | 1,327 | 1,403 |
Fannie Mae Pool #BE8742 3.50% 204710 | 955 | 1,048 |
Fannie Mae Pool #BH2848 3.50% 204710 | 578 | 628 |
Fannie Mae Pool #CA0770 3.50% 204710 | 539 | 572 |
The Bond Fund of America — Page 31 of 58
unaudited
Bonds, notes & other debt instruments (continued) Mortgage-backed obligations (continued) Federal agency mortgage-backed obligations (continued) | Principal amount (000) | Value (000) |
Fannie Mae Pool #BH2847 3.50% 204710 | $449 | $491 |
Fannie Mae Pool #BH2846 3.50% 204710 | 436 | 478 |
Fannie Mae Pool #BJ1910 3.50% 204710 | 230 | 243 |
Fannie Mae Pool #CA0453 4.00% 204710 | 19,343 | 20,581 |
Fannie Mae Pool #MA3211 4.00% 204710 | 12,661 | 13,504 |
Fannie Mae Pool #BJ5015 4.00% 204710 | 8,395 | 9,286 |
Fannie Mae Pool #BD3554 4.00% 204710 | 1,993 | 2,119 |
Fannie Mae Pool #BH3122 4.00% 204710 | 268 | 292 |
Fannie Mae Pool #BM4413 4.50% 204710 | 16,757 | 18,071 |
Fannie Mae Pool #BH0876 4.50% 204710 | 5,764 | 6,262 |
Fannie Mae Pool #BJ3525 4.50% 204710 | 3,410 | 3,672 |
Fannie Mae Pool #BJ3558 4.50% 204710 | 3,234 | 3,489 |
Fannie Mae Pool #BJ3581 4.50% 204710 | 2,086 | 2,252 |
Fannie Mae Pool #257063 7.00% 204710 | 48 | 56 |
Fannie Mae Pool #BF0293 3.00% 204810 | 24,547 | 26,212 |
Fannie Mae Pool #BM4488 3.411% 20483,10 | 21,141 | 22,049 |
Fannie Mae Pool #BF0318 3.50% 204810 | 90,196 | 96,608 |
Fannie Mae Pool #CA1532 3.50% 204810 | 16,777 | 17,793 |
Fannie Mae Pool #CA1189 3.50% 204810 | 4,232 | 4,485 |
Fannie Mae Pool #BJ3790 3.50% 204810 | 4,175 | 4,412 |
Fannie Mae Pool #BJ4901 3.50% 204810 | 1,981 | 2,165 |
Fannie Mae Pool #BJ4154 3.50% 204810 | 49 | 51 |
Fannie Mae Pool #FM2669 4.00% 204810 | 35,225 | 37,490 |
Fannie Mae Pool #BK0920 4.00% 204810 | 20,814 | 22,046 |
Fannie Mae Pool #CA2850 4.00% 204810 | 9,280 | 10,392 |
Fannie Mae Pool #BJ9252 4.00% 204810 | 6,335 | 6,714 |
Fannie Mae Pool #BK6840 4.00% 204810 | 5,494 | 6,073 |
Fannie Mae Pool #BK4764 4.00% 204810 | 5,364 | 5,681 |
Fannie Mae Pool #BK5232 4.00% 204810 | 3,798 | 4,198 |
Fannie Mae Pool #BK7274 4.00% 204810 | 2,670 | 2,837 |
Fannie Mae Pool #BK0915 4.00% 204810 | 2,002 | 2,121 |
Fannie Mae Pool #MA3384 4.00% 204810 | 1,787 | 1,892 |
Fannie Mae Pool #BK9743 4.00% 204810 | 1,537 | 1,699 |
Fannie Mae Pool #BK7665 4.50% 204810 | 24,565 | 27,295 |
Fannie Mae Pool #BK0951 4.50% 204810 | 18,070 | 20,152 |
Fannie Mae Pool #BK0163 4.50% 204810 | 5,896 | 6,360 |
Fannie Mae Pool #BN1576 4.50% 204810 | 3,325 | 3,574 |
Fannie Mae Pool #CA2056 4.50% 204810 | 2,287 | 2,459 |
Fannie Mae Pool #BK9761 4.50% 204810 | 1,339 | 1,497 |
Fannie Mae Pool #CA2484 4.50% 204810 | 144 | 154 |
Fannie Mae Pool #CA2166 4.50% 204810 | 45 | 49 |
Fannie Mae Pool #CA2493 4.50% 204810 | 11 | 11 |
Fannie Mae Pool #CA1574 5.00% 204810 | 14,367 | 15,718 |
Fannie Mae Pool #CA4858 3.00% 204910 | 276,716 | 293,972 |
Fannie Mae Pool #CA3964 3.00% 204910 | 219,401 | 233,098 |
Fannie Mae Pool #CA4420 3.00% 204910 | 45,854 | 48,720 |
Fannie Mae Pool #CA4543 3.00% 204910 | 28,258 | 30,463 |
Fannie Mae Pool #CA3807 3.00% 204910 | 4,188 | 4,528 |
Fannie Mae Pool #CA4534 3.00% 204910 | 3,142 | 3,359 |
Fannie Mae Pool #CA3806 3.00% 204910 | 2,176 | 2,361 |
Fannie Mae Pool #CA4021 3.50% 204910 | 81,313 | 86,112 |
Fannie Mae Pool #BN6708 3.50% 204910 | 65,163 | 70,226 |
Fannie Mae Pool #CA4802 3.50% 204910 | 51,396 | 56,167 |
Fannie Mae Pool #BO3252 3.50% 204910 | 31,779 | 34,538 |
The Bond Fund of America — Page 32 of 58
unaudited
Bonds, notes & other debt instruments (continued) Mortgage-backed obligations (continued) Federal agency mortgage-backed obligations (continued) | Principal amount (000) | Value (000) |
Fannie Mae Pool #CA4151 3.50% 204910 | $30,275 | $33,387 |
Fannie Mae Pool #FM1062 3.50% 204910 | 29,116 | 31,942 |
Fannie Mae Pool #FM1443 3.50% 204910 | 24,462 | 26,733 |
Fannie Mae Pool #FM1257 3.50% 204910 | 13,411 | 14,639 |
Fannie Mae Pool #BO1588 3.50% 204910 | 9,372 | 10,185 |
Fannie Mae Pool #BJ8411 3.50% 204910 | 6,954 | 7,599 |
Fannie Mae Pool #BJ8402 3.55% 20493,10 | 3,591 | 3,763 |
Fannie Mae Pool #FM1963 4.00% 204910 | 77,073 | 85,207 |
Fannie Mae Pool #FM1913 4.00% 204910 | 5,654 | 6,087 |
Fannie Mae Pool #CA5700 2.50% 205010 | 113,480 | 120,167 |
Fannie Mae Pool #CA5699 2.50% 205010 | 92,114 | 97,753 |
Fannie Mae Pool #CA5701 2.50% 205010 | 80,533 | 84,673 |
Fannie Mae Pool #BK2239 2.50% 205010 | 5,041 | 5,350 |
Fannie Mae Pool #CA5687 3.00% 205010 | 149,343 | 161,551 |
Fannie Mae Pool #CA5538 3.00% 205010 | 101,679 | 108,758 |
Fannie Mae Pool #CA5506 3.00% 205010 | 84,085 | 89,939 |
Fannie Mae Pool #CA5536 3.00% 205010 | 81,407 | 86,627 |
Fannie Mae Pool #BK2240 3.00% 205010 | 78,527 | 84,670 |
Fannie Mae Pool #CA5229 3.00% 205010 | 47,761 | 51,496 |
Fannie Mae Pool #CA5517 3.00% 205010 | 47,542 | 50,473 |
Fannie Mae Pool #BP1948 3.00% 205010 | 23,210 | 24,954 |
Fannie Mae Pool #CA5338 3.00% 205010 | 22,850 | 24,185 |
Fannie Mae Pool #FM2839 3.50% 205010 | 59,998 | 64,433 |
Fannie Mae Pool #FM2664 3.50% 205010 | 50,208 | 54,914 |
Fannie Mae Pool #BP1954 3.50% 205010 | 40,488 | 43,315 |
Fannie Mae Pool #MA4026 4.00% 205010 | 20,621 | 21,957 |
Fannie Mae Pool #BF0264 3.50% 205810 | 24,938 | 27,150 |
Fannie Mae, Series 2001-4, Class NA, 9.014% 20253,10 | 3 | 3 |
Fannie Mae, Series 2001-4, Class GA, 9.117% 20253,10 | 2 | 2 |
Fannie Mae, Series 1998-W5, Class B3, 6.50% 20281,10 | 413 | 411 |
Fannie Mae, Series 2002-W7, Class A5, 7.50% 202910 | 82 | 101 |
Fannie Mae, Series 2001-25, Class ZA, 6.50% 203110 | 795 | 905 |
Fannie Mae, Series 2001-20, Class E, 9.50% 20313,10 | —9 | —9 |
Fannie Mae, Series 2001-T10, Class A1, 7.00% 204110 | 1,360 | 1,614 |
Fannie Mae, Series 2001-50, Class BA, 7.00% 204110 | 238 | 275 |
Fannie Mae, Series 2002-W3, Class A5, 7.50% 204110 | 696 | 852 |
Fannie Mae, Series 2002-W1, Class 2A, 5.552% 20423,10 | 1,025 | 1,157 |
Fannie Mae, Series 2017-M3, Class A2, Multi Family, 2.565% 20263,10 | 10 | 11 |
Fannie Mae, Series 2017-M15, Class A2, Multi Family, 3.058% 20273,10 | 3,700 | 4,164 |
Fannie Mae, Series 2017-M12, Class A2, Multi Family, 3.181% 20273,10 | 5,000 | 5,589 |
Fannie Mae, Series 2019-M5, Class A2, Multi Family, 3.273% 202910 | 430 | 498 |
Fannie Mae, Series 2006-51, Class PO, principal only, 0% 203610 | 695 | 663 |
Fannie Mae, Series 2006-32, Class OA, principal only, 0% 203610 | 681 | 645 |
Fannie Mae, Series 2006-96, Class OP, principal only, 0% 203610 | 232 | 222 |
Freddie Mac 4.00% 203610 | 24,994 | 26,924 |
Freddie Mac 4.00% 203610 | 6,216 | 6,696 |
Freddie Mac 4.00% 203610 | 2,351 | 2,533 |
Freddie Mac 4.00% 203610 | 2,056 | 2,213 |
Freddie Mac 3.00% 203710 | 1,231 | 1,304 |
Freddie Mac 4.00% 203710 | 7,452 | 8,018 |
Freddie Mac 4.00% 204310 | 9,385 | 10,383 |
Freddie Mac 3.50% 204510 | 1,085 | 1,198 |
Freddie Mac 4.00% 204510 | 1,543 | 1,668 |
Freddie Mac 3.00% 204610 | 102,625 | 111,575 |
The Bond Fund of America — Page 33 of 58
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Bonds, notes & other debt instruments (continued) Mortgage-backed obligations (continued) Federal agency mortgage-backed obligations (continued) | Principal amount (000) | Value (000) |
Freddie Mac 3.50% 204610 | $504 | $523 |
Freddie Mac 4.50% 204610 | 1,605 | 1,745 |
Freddie Mac 4.50% 204610 | 880 | 974 |
Freddie Mac 4.50% 204610 | 857 | 949 |
Freddie Mac 4.50% 204610 | 654 | 721 |
Freddie Mac 4.50% 204610 | 435 | 479 |
Freddie Mac 3.50% 204710 | 54,489 | 57,690 |
Freddie Mac 3.50% 204710 | 21,469 | 22,762 |
Freddie Mac 3.50% 204710 | 16,793 | 17,737 |
Freddie Mac 3.50% 204710 | 2,177 | 2,301 |
Freddie Mac 4.00% 204710 | 12,335 | 13,273 |
Freddie Mac 4.00% 204710 | 11,036 | 11,755 |
Freddie Mac 4.50% 204710 | 3,376 | 3,645 |
Freddie Mac 4.50% 204710 | 1,829 | 1,979 |
Freddie Mac 3.50% 204810 | 64,421 | 69,219 |
Freddie Mac 3.50% 204810 | 52,834 | 57,758 |
Freddie Mac 3.50% 204810 | 383 | 416 |
Freddie Mac 3.50% 204810 | 212 | 223 |
Freddie Mac 4.00% 204810 | 12,671 | 13,658 |
Freddie Mac 4.00% 204810 | 4,138 | 4,412 |
Freddie Mac Pool #ZK3848 3.00% 202710 | 118 | 124 |
Freddie Mac Pool #G15732 3.00% 203010 | 12,311 | 13,155 |
Freddie Mac Pool #ZT1332 3.00% 203010 | 10,828 | 11,510 |
Freddie Mac Pool #D98356 4.50% 203010 | 325 | 349 |
Freddie Mac Pool #V61295 2.50% 203110 | 11,931 | 12,669 |
Freddie Mac Pool #ZK8180 2.50% 203110 | 4,890 | 5,190 |
Freddie Mac Pool #G16634 3.00% 203110 | 18,384 | 19,662 |
Freddie Mac Pool #G18652 3.00% 203210 | 21,567 | 22,689 |
Freddie Mac Pool #G18655 3.00% 203210 | 13,582 | 14,282 |
Freddie Mac Pool #V61960 3.00% 203310 | 9,668 | 10,241 |
Freddie Mac Pool #ZT0716 3.00% 203310 | 479 | 503 |
Freddie Mac Pool #A15120 5.50% 203310 | 3 | 3 |
Freddie Mac Pool #C91883 4.00% 203610 | 862 | 928 |
Freddie Mac Pool #G04804 4.50% 203710 | 2,432 | 2,687 |
Freddie Mac Pool #A56076 5.50% 203710 | 19 | 21 |
Freddie Mac Pool #G03695 5.50% 203710 | 5 | 5 |
Freddie Mac Pool #H09093 7.50% 203710 | 103 | 118 |
Freddie Mac Pool #G04587 5.50% 203810 | 670 | 768 |
Freddie Mac Pool #G04585 5.50% 203810 | 256 | 294 |
Freddie Mac Pool #G05196 5.50% 203810 | 110 | 126 |
Freddie Mac Pool #G08248 5.50% 203810 | 66 | 76 |
Freddie Mac Pool #G05267 5.50% 203810 | 4 | 4 |
Freddie Mac Pool #G05535 4.50% 203910 | 604 | 672 |
Freddie Mac Pool #A87873 5.00% 203910 | 4,757 | 5,460 |
Freddie Mac Pool #G06020 5.50% 203910 | 1,582 | 1,814 |
Freddie Mac Pool #840222 4.048% 20403,10 | 1,353 | 1,424 |
Freddie Mac Pool #G05937 4.50% 204010 | 11,349 | 12,616 |
Freddie Mac Pool #A93948 4.50% 204010 | 12 | 14 |
Freddie Mac Pool #G05860 5.50% 204010 | 25 | 28 |
Freddie Mac Pool #Q02705 4.50% 204110 | 5,029 | 5,601 |
Freddie Mac Pool #G06956 4.50% 204110 | 1,171 | 1,302 |
Freddie Mac Pool #G06769 4.50% 204110 | 636 | 708 |
Freddie Mac Pool #Q01992 4.50% 204110 | 237 | 260 |
Freddie Mac Pool #G06868 4.50% 204110 | 11 | 12 |
The Bond Fund of America — Page 34 of 58
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Bonds, notes & other debt instruments (continued) Mortgage-backed obligations (continued) Federal agency mortgage-backed obligations (continued) | Principal amount (000) | Value (000) |
Freddie Mac Pool #G06648 5.00% 204110 | $3,550 | $4,072 |
Freddie Mac Pool #Q01658 5.00% 204110 | 1,274 | 1,428 |
Freddie Mac Pool #G06841 5.50% 204110 | 31 | 35 |
Freddie Mac Pool #Q18236 3.50% 204310 | 2,821 | 3,070 |
Freddie Mac Pool #Q19133 3.50% 204310 | 1,761 | 1,917 |
Freddie Mac Pool #Q17696 3.50% 204310 | 1,612 | 1,765 |
Freddie Mac Pool #841039 3.701% 20433,10 | 6,111 | 6,374 |
Freddie Mac Pool #Q15874 4.00% 204310 | 147 | 157 |
Freddie Mac Pool #Q28558 3.50% 204410 | 9,113 | 9,961 |
Freddie Mac Pool #760012 3.104% 20453,10 | 1,936 | 2,028 |
Freddie Mac Pool #760013 3.189% 20453,10 | 1,267 | 1,322 |
Freddie Mac Pool #760014 3.48% 20453,10 | 6,254 | 6,498 |
Freddie Mac Pool #G60344 4.00% 204510 | 23,061 | 25,460 |
Freddie Mac Pool #G08791 3.00% 204710 | 17,366 | 18,335 |
Freddie Mac Pool #G61733 3.00% 204710 | 13,488 | 14,581 |
Freddie Mac Pool #760015 3.184% 20473,10 | 6,002 | 6,172 |
Freddie Mac Pool #Q52157 3.50% 204710 | 9,377 | 9,932 |
Freddie Mac Pool #Q52069 3.50% 204710 | 5,050 | 5,491 |
Freddie Mac Pool #Q51622 3.50% 204710 | 3,886 | 4,249 |
Freddie Mac Pool #Q47615 3.50% 204710 | 3,258 | 3,563 |
Freddie Mac Pool #G08789 4.00% 204710 | 1,189 | 1,268 |
Freddie Mac Pool #K30200 6.50% 204710 | 193 | 207 |
Freddie Mac Pool #ZS4754 3.00% 204810 | 10,523 | 11,096 |
Freddie Mac Pool #Q55056 3.50% 204810 | 6,373 | 6,853 |
Freddie Mac Pool #Q54709 3.50% 204810 | 3,478 | 3,781 |
Freddie Mac Pool #Q54701 3.50% 204810 | 3,305 | 3,593 |
Freddie Mac Pool #Q54782 3.50% 204810 | 3,092 | 3,361 |
Freddie Mac Pool #Q54781 3.50% 204810 | 2,838 | 3,103 |
Freddie Mac Pool #Q54700 3.50% 204810 | 2,466 | 2,696 |
Freddie Mac Pool #Q56591 3.50% 204810 | 2,466 | 2,650 |
Freddie Mac Pool #Q55060 3.50% 204810 | 2,001 | 2,152 |
Freddie Mac Pool #Q56590 3.50% 204810 | 1,804 | 1,960 |
Freddie Mac Pool #Q56589 3.50% 204810 | 1,563 | 1,709 |
Freddie Mac Pool #Q54698 3.50% 204810 | 1,341 | 1,480 |
Freddie Mac Pool #Q54699 3.50% 204810 | 1,238 | 1,358 |
Freddie Mac Pool #Q54831 3.50% 204810 | 926 | 1,016 |
Freddie Mac Pool #ZS4777 3.50% 204810 | 122 | 129 |
Freddie Mac Pool #G67711 4.00% 204810 | 40,151 | 44,391 |
Freddie Mac Pool #SI2002 4.00% 204810 | 24,852 | 26,373 |
Freddie Mac Pool #ZA5889 4.00% 204810 | 7,146 | 7,628 |
Freddie Mac Pool #Q56599 4.00% 204810 | 6,130 | 6,778 |
Freddie Mac Pool #Q56175 4.00% 204810 | 4,004 | 4,427 |
Freddie Mac Pool #Q55971 4.00% 204810 | 3,680 | 4,069 |
Freddie Mac Pool #Q55970 4.00% 204810 | 1,758 | 1,958 |
Freddie Mac Pool #Q56576 4.00% 204810 | 1,609 | 1,708 |
Freddie Mac Pool #Q58411 4.50% 204810 | 8,171 | 9,156 |
Freddie Mac Pool #Q58436 4.50% 204810 | 3,277 | 3,696 |
Freddie Mac Pool #Q58378 4.50% 204810 | 3,177 | 3,491 |
Freddie Mac Pool #Q57242 4.50% 204810 | 2,390 | 2,603 |
Freddie Mac Pool #SD7509 3.00% 204910 | 190,558 | 203,013 |
Freddie Mac Pool #SD7507 3.00% 204910 | 72,753 | 78,057 |
Freddie Mac Pool #QA4692 3.00% 204910 | 52,810 | 56,457 |
Freddie Mac Pool #SD0175 3.00% 204910 | 19,689 | 21,216 |
Freddie Mac Pool #QA4673 3.00% 204910 | 12,773 | 13,716 |
The Bond Fund of America — Page 35 of 58
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Bonds, notes & other debt instruments (continued) Mortgage-backed obligations (continued) Federal agency mortgage-backed obligations (continued) | Principal amount (000) | Value (000) |
Freddie Mac Pool #SD7508 3.50% 204910 | $136,157 | $148,797 |
Freddie Mac Pool #QA5131 3.50% 204910 | 69,572 | 74,078 |
Freddie Mac Pool #Q63647 3.50% 204910 | 56,449 | 61,358 |
Freddie Mac Pool #QA5125 3.50% 204910 | 45,705 | 49,948 |
Freddie Mac Pool #RA1580 3.50% 204910 | 20,667 | 22,791 |
Freddie Mac Pool #RA1463 3.50% 204910 | 20,394 | 22,491 |
Freddie Mac Pool #QA0284 3.50% 204910 | 13,861 | 15,148 |
Freddie Mac Pool #QA1885 3.50% 204910 | 10,248 | 11,106 |
Freddie Mac Pool #QA2748 3.50% 204910 | 2,768 | 3,025 |
Freddie Mac Pool #ZA7009 4.50% 204910 | 1,960 | 2,106 |
Freddie Mac Pool #ZA6269 4.50% 204910 | 1,670 | 1,793 |
Freddie Mac Pool #RA2597 2.50% 205010 | 243,409 | 254,020 |
Freddie Mac Pool #RA2730 2.50% 205010 | 149,749 | 158,307 |
Freddie Mac Pool #QA8953 2.50% 205010 | 15,012 | 15,931 |
Freddie Mac Pool #RA2596 2.50% 205010 | 11,968 | 12,490 |
Freddie Mac Pool #RA2595 2.50% 205010 | 8,955 | 9,346 |
Freddie Mac Pool #QA8952 2.50% 205010 | 5,955 | 6,368 |
Freddie Mac Pool #QA8516 2.50% 205010 | 2,352 | 2,509 |
Freddie Mac Pool #QA7075 3.00% 205010 | 239,487 | 254,544 |
Freddie Mac Pool #SD7512 3.00% 205010 | 195,525 | 208,224 |
Freddie Mac Pool #QA8575 3.00% 205010 | 180,761 | 194,900 |
Freddie Mac Pool #RA2020 3.00% 205010 | 177,965 | 189,064 |
Freddie Mac Pool #RA1914 3.00% 205010 | 70,328 | 74,714 |
Freddie Mac Pool #RA2408 3.00% 205010 | 64,122 | 69,137 |
Freddie Mac Pool #QA8819 3.00% 205010 | 60,500 | 65,233 |
Freddie Mac Pool #SD0234 3.00% 205010 | 56,804 | 60,375 |
Freddie Mac Pool #SD7517 3.00% 205010 | 49,586 | 53,391 |
Freddie Mac Pool #RA2319 3.00% 205010 | 39,078 | 41,367 |
Freddie Mac Pool #SD0187 3.00% 205010 | 21,952 | 23,732 |
Freddie Mac Pool #QA8801 3.00% 205010 | 20,922 | 22,237 |
Freddie Mac Pool #SD7514 3.50% 205010 | 162,916 | 174,927 |
Freddie Mac Pool #RA2472 3.50% 205010 | 10,941 | 11,969 |
Freddie Mac, Series 2122, Class QM, 6.25% 202910 | 461 | 515 |
Freddie Mac, Series 3257, Class PA, 5.50% 203610 | 4,111 | 4,817 |
Freddie Mac, Series 3286, Class JN, 5.50% 203710 | 3,163 | 3,558 |
Freddie Mac, Series 3318, Class JT, 5.50% 203710 | 1,847 | 2,106 |
Freddie Mac, Series 4582, Class GA, 3.75% 20523,10 | 7,050 | 7,356 |
Freddie Mac, Series K021, Class A2, Multi Family, 2.396% 202210 | 15,000 | 15,464 |
Freddie Mac, Series KS01, Class A2, Multi Family, 2.522% 202310 | 3,269 | 3,390 |
Freddie Mac, Series K029, Class A2, Multi Family, 3.32% 202310 | 20,000 | 21,302 |
Freddie Mac, Series K036, Class A2, Multi Family, 3.527% 202310 | 2,000 | 2,179 |
Freddie Mac, Series K043, Class A2, Multi Family, 3.062% 202410 | 28,910 | 31,852 |
Freddie Mac, Series K044, Class A2, Multi Family, 2.811% 202510 | 43,390 | 47,352 |
Freddie Mac, Series K049, Class A2, Multi Family, 3.01% 202510 | 774 | 856 |
Freddie Mac, Series K734, Class A2, Multi Family, 3.208% 202610 | 5,065 | 5,679 |
Freddie Mac, Series K060, Class A2, Multi Family, 3.30% 202610 | 400 | 457 |
Freddie Mac, Series K061, Class A2, Multi Family 3.347% 202610 | 2,951 | 3,379 |
Freddie Mac, Series K064, Class A2, Multi Family, 3.224% 20273,10 | 1,000 | 1,141 |
Freddie Mac, Series K065, Class A2, Multi Family, 3.243% 202710 | 1,170 | 1,342 |
Freddie Mac, Series K074, Class A2, Multi Family, 3.60% 202810 | 955 | 1,124 |
Freddie Mac, Series K084, Class A2, Multi Family, 3.78% 20283,10 | 6,045 | 7,230 |
Freddie Mac, Series K078, Class A2, Multi Family, 3.854% 202810 | 4,000 | 4,792 |
Freddie Mac, Series K076, Class A2, Multi Family, 3.90% 202810 | 3,965 | 4,770 |
Freddie Mac, Series K081, Class A2, Multi Family, 3.90% 20283,10 | 1,700 | 2,049 |
The Bond Fund of America — Page 36 of 58
unaudited
Bonds, notes & other debt instruments (continued) Mortgage-backed obligations (continued) Federal agency mortgage-backed obligations (continued) | Principal amount (000) | Value (000) |
Freddie Mac, Series K082, Class A2, Multi Family, 3.92% 20283,10 | $1,680 | $2,029 |
Freddie Mac, Series K079, Class A2, Multi Family, 3.926% 202810 | 172 | 208 |
Freddie Mac, Series K083, Class A2, Multi Family, 4.05% 20283,10 | 3,000 | 3,663 |
Freddie Mac, Series K101, Class A2, Multi Family, 2.524% 202910 | 62 | 70 |
Freddie Mac, Series K090, Class A2, Multi Family, 3.422% 202910 | 5,000 | 5,912 |
Freddie Mac, Series K089, Class A2, Multi Family, 3.563% 202910 | 5,249 | 6,252 |
Freddie Mac, Series K105, Class A2, Multi Family, 1.872% 205310 | 23 | 25 |
Freddie Mac, Series 3156, Class PO, principal only, 0% 203610 | 1,643 | 1,565 |
Freddie Mac, Series 3136, Class OP, principal only, 0% 203610 | 482 | 469 |
Freddie Mac, Series 3147, Class OD, principal only, 0% 203610 | 479 | 461 |
Freddie Mac, Series 3149, Class MO, principal only, 0% 203610 | 374 | 358 |
Freddie Mac, Series 3149, Class AO, principal only, 0% 203610 | 250 | 237 |
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-2, Class HA, 2.939% 20563,10 | 54,027 | 57,595 |
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-2, Class MA, 3.00% 205610 | 54,272 | 58,156 |
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-1, Class HA, 3.00% 20563,10 | 47,432 | 50,580 |
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-3, Class MT, 3.00% 205610 | 8,573 | 9,413 |
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-1, Class MA, 3.00% 205610 | 5,595 | 6,000 |
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-3, Class HA, 3.25% 20563,10 | 19,162 | 20,624 |
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-3, Class HT, 3.25% 205610 | 1,660 | 1,846 |
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2018-1, Class HT, 3.00% 205710 | 8,708 | 9,594 |
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-4, Class HT, 3.25% 20573,10 | 25,340 | 27,868 |
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2018-3, Class MA, 3.50% 205710 | 102,879 | 111,532 |
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2018-2, Class MT, 3.50% 205710 | 24,957 | 28,230 |
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-4, Class MT, 3.50% 205710 | 17,470 | 19,724 |
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-4, Class M45T, 4.50% 205710 | 10,175 | 11,435 |
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-2, Class MA, 3.50% 205810 | 40,403 | 44,053 |
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-1, Class MT, 3.50% 205810 | 4,769 | 5,398 |
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-2, Class MT, 3.50% 205810 | 3,812 | 4,311 |
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-1, Class MA, 3.50% 205810 | 2,713 | 2,954 |
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-3, Class MT, 3.50% 205810 | 2,608 | 2,953 |
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-3, Class MA, 3.50% 205810 | 1,223 | 1,322 |
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-4, Class MA, 3.00% 205910 | 200,433 | 213,428 |
Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2018-2, Class A1, 3.50% 202810 | 53,998 | 58,946 |
Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2018-1, Class A1, 3.50% 202810 | 33,809 | 36,644 |
Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2019-2, Class A1C, 2.75% 202910 | 92,146 | 97,354 |
Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2019-3, Class A1C, 2.75% 202910 | 75,679 | 79,916 |
Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2019-1, Class A1, 3.50% 202910 | 25,490 | 27,768 |
Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2014-DN2, Class M2, (1-month USD-LIBOR + 1.65%) 1.835% 20243,10 | 85 | 85 |
Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2014-HQ2, Class M2, (1-month USD-LIBOR + 2.20%) 2.385% 20243,10 | 2,602 | 2,628 |
Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2015-HQ2, Class M2, (1-month USD-LIBOR + 1.95%) 2.135% 20253,10 | 2,157 | 2,169 |
Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2015-DNA1, Class M3, 3.485% 20273,10 | 4,649 | 4,759 |
Government National Mortgage Assn. 4.00% 204510 | 209 | 227 |
Government National Mortgage Assn. 3.00% 204710 | 27,317 | 28,315 |
Government National Mortgage Assn. 3.00% 204710 | 12,072 | 12,489 |
Government National Mortgage Assn. 4.00% 204710 | 43,214 | 46,448 |
Government National Mortgage Assn. 4.00% 204710 | 27,545 | 29,609 |
Government National Mortgage Assn. 3.50% 204810 | 9,024 | 9,548 |
Government National Mortgage Assn. 4.00% 204810 | 4,916 | 5,239 |
Government National Mortgage Assn. 4.00% 204810 | 4,309 | 4,606 |
Government National Mortgage Assn. 4.00% 204810 | 2,845 | 3,038 |
Government National Mortgage Assn. 4.50% 204910 | 75,334 | 80,494 |
The Bond Fund of America — Page 37 of 58
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Bonds, notes & other debt instruments (continued) Mortgage-backed obligations (continued) Federal agency mortgage-backed obligations (continued) | Principal amount (000) | Value (000) |
Government National Mortgage Assn. 4.50% 204910 | $181 | $192 |
Government National Mortgage Assn. 5.00% 204910 | 1,640 | 1,750 |
Government National Mortgage Assn. 2.50% 205010,11 | 1,461,465 | 1,534,766 |
Government National Mortgage Assn. 3.50% 205010,11 | 75,000 | 79,148 |
Government National Mortgage Assn. 3.50% 205010,11 | 50,022 | 52,781 |
Government National Mortgage Assn. 4.00% 205010,11 | 21,295 | 22,578 |
Government National Mortgage Assn. 4.00% 205010 | 9,207 | 9,776 |
Government National Mortgage Assn. 4.50% 205010,11 | 88,030 | 93,986 |
Government National Mortgage Assn. Pool #MA0908 2.50% 202810 | 1,398 | 1,466 |
Government National Mortgage Assn. Pool #AB3820 5.00% 203510 | 359 | 394 |
Government National Mortgage Assn. Pool #AB3587 6.50% 203810 | 183 | 210 |
Government National Mortgage Assn. Pool #AB3819 5.00% 203910 | 539 | 588 |
Government National Mortgage Assn. Pool #004636 4.50% 204010 | 1,834 | 2,014 |
Government National Mortgage Assn. Pool #783689 5.50% 204010 | 2,865 | 3,278 |
Government National Mortgage Assn. Pool #783687 4.50% 204110 | 6,934 | 7,483 |
Government National Mortgage Assn. Pool #AC2886 4.50% 204110 | 950 | 1,024 |
Government National Mortgage Assn. Pool #AB3818 4.50% 204110 | 474 | 513 |
Government National Mortgage Assn. Pool #AB3664 4.50% 204110 | 310 | 332 |
Government National Mortgage Assn. Pool #783688 5.00% 204110 | 2,683 | 3,015 |
Government National Mortgage Assn. Pool #754353 3.50% 204210 | 639 | 672 |
Government National Mortgage Assn. Pool #AD7620 3.50% 204310 | 1,583 | 1,704 |
Government National Mortgage Assn. Pool #MA4383 4.00% 204710 | 78,966 | 85,112 |
Government National Mortgage Assn. Pool #MA5263 3.50% 204810 | 7,155 | 7,619 |
Government National Mortgage Assn. Pool #MA5527 3.50% 204810 | 6,100 | 6,472 |
Government National Mortgage Assn. Pool #MA5019 3.50% 204810 | 889 | 946 |
Government National Mortgage Assn. Pool #MA5020 4.00% 204810 | 38,744 | 41,787 |
Government National Mortgage Assn. Pool #MA5398 4.00% 204810 | 5,137 | 5,478 |
Government National Mortgage Assn. Pool #MA5651 4.00% 204810 | 2,254 | 2,402 |
Government National Mortgage Assn. Pool #MA5264 4.00% 204810 | 1,998 | 2,137 |
Government National Mortgage Assn. Pool #MA5332 5.00% 204810 | 165 | 180 |
Government National Mortgage Assn. Pool #MA5876 4.00% 204910 | 167,115 | 177,219 |
Government National Mortgage Assn. Pool #MA5817 4.00% 204910 | 49,883 | 52,938 |
Government National Mortgage Assn. Pool #MA6040 4.00% 204910 | 3,508 | 3,720 |
Government National Mortgage Assn. Pool #MA5986 4.00% 204910 | 80 | 85 |
Government National Mortgage Assn. Pool #MA5877 4.50% 204910 | 54,158 | 57,886 |
Government National Mortgage Assn. Pool #MA6092 4.50% 204910 | 12,606 | 13,463 |
Government National Mortgage Assn. Pool #MA6041 4.50% 204910 | 1,440 | 1,539 |
Government National Mortgage Assn. Pool #MA6042 5.00% 204910 | 383 | 416 |
Government National Mortgage Assn. Pool #MA6542 3.50% 205010 | 1,456 | 1,542 |
Government National Mortgage Assn. Pool #MA6411 4.00% 205010 | 50,126 | 53,218 |
Government National Mortgage Assn. Pool #MA6543 4.00% 205010 | 6,921 | 7,347 |
Government National Mortgage Assn. Pool #694836 5.662% 205910 | 1 | 1 |
Government National Mortgage Assn. Pool #725876 4.782% 206110 | 3 | 3 |
Government National Mortgage Assn. Pool #725879 4.805% 206110 | 4 | 4 |
Government National Mortgage Assn. Pool #765136 4.906% 206110 | 3 | 3 |
Government National Mortgage Assn. Pool #710085 4.965% 206110 | 11 | 12 |
Government National Mortgage Assn. Pool #721648 5.05% 206110 | 3 | 3 |
Government National Mortgage Assn. Pool #AC1008 4.471% 206310 | 3 | 4 |
Government National Mortgage Assn. Pool #AG8238 4.779% 206410 | 12 | 13 |
Government National Mortgage Assn. Pool #725893 5.20% 206410 | 2 | 2 |
Government National Mortgage Assn. Pool #AA7554 6.64% 206410 | 3 | 3 |
Government National Mortgage Assn. Pool #AE9612 4.953% 206510 | 13 | 13 |
One Market Plaza Trust, Series 2017-1MKT, Class A, 3.614% 20321,10 | 1,220 | 1,280 |
Uniform Mortgage-Backed Security 2.00% 203510,11 | 2,555,995 | 2,635,272 |
The Bond Fund of America — Page 38 of 58
unaudited
Bonds, notes & other debt instruments (continued) Mortgage-backed obligations (continued) Federal agency mortgage-backed obligations (continued) | Principal amount (000) | Value (000) |
Uniform Mortgage-Backed Security 2.00% 203510,11 | $1,979,710 | $2,044,514 |
Uniform Mortgage-Backed Security 2.50% 203510,11 | 260,000 | 271,334 |
Uniform Mortgage-Backed Security 2.50% 203510,11 | 93,469 | 97,690 |
Uniform Mortgage-Backed Security 3.00% 203510,11 | 40,861 | 42,941 |
Uniform Mortgage-Backed Security 2.00% 205010,11 | 201,742 | 205,921 |
Uniform Mortgage-Backed Security 2.00% 205010,11 | 115,973 | 118,632 |
Uniform Mortgage-Backed Security 2.50% 205010,11 | 766,487 | 795,629 |
Uniform Mortgage-Backed Security 2.50% 205010,11 | 75,000 | 78,161 |
Uniform Mortgage-Backed Security 3.00% 205010,11 | 279,733 | 294,136 |
Uniform Mortgage-Backed Security 3.00% 205010,11 | 57 | 60 |
Uniform Mortgage-Backed Security 3.50% 205010,11 | 1,092,782 | 1,149,396 |
Uniform Mortgage-Backed Security 3.50% 205010,11 | 350,000 | 368,102 |
Uniform Mortgage-Backed Security 4.00% 205010,11 | 86,692 | 91,863 |
Uniform Mortgage-Backed Security 4.50% 205010,11 | 114,925 | 123,500 |
| | 19,079,791 |
Collateralized mortgage-backed obligations (privately originated) 0.97% | | |
Arroyo Mortgage Trust, Series 2018-1, Class A1, 3.763% 20481,3,10 | 17,548 | 18,096 |
Arroyo Mortgage Trust, Series 2020-1, Class A1A, 1.622% 20551,10 | 1,639 | 1,643 |
Bellemeade Re Ltd., Series 2019-3A, Class M1B, (1-month USD-LIBOR + 1.60%) 1.785% 20291,3,10 | 5,715 | 5,594 |
BRAVO Residential Funding Trust, Series 2020-RPL1, Class A1, 2.50% 20591,3,10 | 5,152 | 5,327 |
Bunker Hill Loan Depositary Trust, Series 2019-1, Class A1, 3.613% 20481,3,10 | 2,034 | 2,095 |
Bunker Hill Loan Depositary Trust, Series 2019-1, Class A3, 3.919% 20481,3,10 | 3,031 | 3,072 |
Cascade Funding Mortgage Trust, Series 2019-HB1, Class A, 2.386% 20291,3,10 | 6,370 | 6,413 |
Cascade Funding Mortgage Trust, Series 2019-HB1, Class M1, 2.572% 20291,3,10 | 3,590 | 3,627 |
Cascade Funding Mortgage Trust, Series 2019-HB1, Class M2, 2.863% 20291,3,10 | 874 | 885 |
Cascade Funding Mortgage Trust, Series 2019-HB1, Class M3, 3.257% 20291,3,10 | 448 | 443 |
Cascade Funding Mortgage Trust, Series 2020-HB3, Class A, 2.812% 20301,3,10 | 8,321 | 8,397 |
Cascade Funding Mortgage Trust, Series 2020-HBA, Class A, 3.405% 20301,3,10 | 9,693 | 9,806 |
Citigroup Mortgage Loan Trust Inc., Series 2020-EXP1, Class A1A, 1.804% 20601,3,10 | 5,492 | 5,534 |
Credit Suisse Mortgage Trust, Series 2019-RPL1, Class A1A, 3.65% 20581,3,10 | 1,774 | 1,903 |
CS First Boston Mortgage Securities Corp., Series 2002-30, Class IA1, 7.50% 203210 | 222 | 239 |
CS First Boston Mortgage Securities Corp., Series 2002-34, Class IA1, 7.50% 203210 | 79 | 84 |
CS First Boston Mortgage Securities Corp., Series 2003-21, Class VA1, 6.50% 203310 | 1,087 | 1,148 |
CS First Boston Mortgage Securities Corp., Series 2003-29, Class VA1, 7.00% 203310 | 448 | 471 |
Finance of America HECM Buyout, Series 2020-HB1, Class A, 2.012% 20301,3,10 | 9,091 | 9,159 |
Finance of America HECM Buyout, Series 2019-HB1, Class M1, 2.105% 20301,3,10 | 2,600 | 2,619 |
Finance of America HECM Buyout, Series 2020-HB1, Class M2, 2.389% 20301,3,10 | 900 | 881 |
Finance of America HECM Buyout, Series 2020-HB1, Class M3, 2.723% 20301,3,10 | 380 | 364 |
Finance of America HECM Buyout, Series 2019-AB1, Class A, 2.656% 20491,10 | 3,852 | 3,849 |
Finance of America HECM Buyout, Series 2019-AB1, Class M1, 3.50% 20491,4,10 | 2,862 | 2,790 |
Finance of America Structured Securities Trust, Series 2019-JR1, Class A, 2.00% 20691,10 | 22,188 | 23,928 |
Finance of America Structured Securities Trust, Series 2019-JR2, Class A1, 2.00% 20691,10 | 21,719 | 23,259 |
Homeward Opportunities Fund Trust, Series 2018-1, Class A1, 3.766% 20481,3,10 | 13,966 | 14,285 |
JPMDB Commercial Mortgage Securities Trust, Series 2017-C7, Class A5, 3.409% 205010 | 1,683 | 1,880 |
JPMDB Commercial Mortgage Securities Trust, Series 2019-COR6, Class A4, 3.057% 205210 | 975 | 1,081 |
JPMorgan Mortgage Trust, Series 2020-INV1, Class A3, 3.50% 20501,3,10 | 7,297 | 7,618 |
Legacy Mortgage Asset Trust, Series 2019-GS5, Class A1, 3.20% 20591,3,10 | 6,466 | 6,451 |
Legacy Mortgage Asset Trust, Series 2019-GS2, Class A1, 3.75% 20591,3,10 | 8,142 | 8,139 |
Mello Warehouse Securitization Trust, Series 2019-2, Class A, (1-month USD-LIBOR + 0.75%) 0.935% 20521,3,10 | 62,022 | 61,882 |
Mello Warehouse Securitization Trust, Series 2019-1, Class A, 0.985% 20521,3,10 | 8,945 | 8,923 |
Mill City Mortgage Trust, Series 2018-1, Class A1, 3.25% 20621,3,10 | 2,155 | 2,257 |
The Bond Fund of America — Page 39 of 58
unaudited
Bonds, notes & other debt instruments (continued) Mortgage-backed obligations (continued) Collateralized mortgage-backed obligations (privately originated) (continued) | Principal amount (000) | Value (000) |
Mortgage Repurchase Agreement Financing Trust, Series 2020-2, Class A1, (1-month USD-LIBOR + 1.75%) 1.924% 20221,3,10 | $59,904 | $60,062 |
Mortgage Repurchase Agreement Financing Trust, Series 2020-1, Class A1, (1-month USD-LIBOR + 2.00%) 2.177% 20221,3,10 | 29,196 | 29,318 |
Nationstar HECM Loan Trust, Series 2018-2, Class A, 3.188% 20281,3,10 | 1,126 | 1,128 |
Nationstar HECM Loan Trust, Series 2018-3A, Class A, 3.555% 20281,3,10 | 5,220 | 5,233 |
Nationstar HECM Loan Trust, Series 2019-2A, Class A, 2.575% 20291,3,10 | 6,075 | 6,096 |
Nationstar HECM Loan Trust, Series 2019-1A, Class A, 2.651% 20291,3,10 | 2,330 | 2,341 |
New Residential Mortgage Loan Trust, Series 2019-2A, Class A1, 4.25% 20571,3,10 | 4,690 | 5,045 |
Onslow Bay Financial LLC, Series 2020-INV1, Class A5, 3.50% 20491,3,10 | 9,614 | 9,969 |
Reverse Mortgage Investment Trust, Series 2018-1, Class A, 3.436% 20281,3,10 | 1,588 | 1,591 |
RMF Proprietary Issuance Trust, Series 2019-1, Class A, 2.75% 20631,3,10 | 8,020 | 7,987 |
Sequoia Mortgage Trust, Series 2018-CH1, Class A1, 4.00% 20481,3,10 | 3,508 | 3,602 |
Starwood Mortgage Residential Trust, Series 2018-IMC1, Class A1, 3.793% 20481,3,10 | 12,062 | 12,256 |
Starwood Mortgage Residential Trust, Series 2019-IMC1, Class A1, 3.468% 20491,3,10 | 3,989 | 4,095 |
Starwood Mortgage Residential Trust, Series 2020-2, Class A1, 2.718% 20601,3,10 | 10,495 | 10,523 |
Station Place Securitization Trust, Series 2020-WL1, Class A, (1-month USD-LIBOR + 1.15%) 1.32% 20511,3,4,10 | 52,450 | 52,450 |
Station Place Securitization Trust, Series 2019-WL1, Class A, (1-month USD-LIBOR + 0.65%) 0.835% 20521,3,10 | 52,439 | 52,584 |
TBW Mortgage-backed Trust, Series 2007-2, Class A4B, (1-month USD-LIBOR + 0.42%) 0.605% 20373,10 | 9,127 | 7,288 |
Towd Point Mortgage Trust, Series 2016-2, Class A1A, 2.75% 20551,3,10 | 847 | 868 |
Towd Point Mortgage Trust, Series 2016-5, Class A1, 2.50% 20561,3,10 | 5,257 | 5,365 |
Towd Point Mortgage Trust, Series 2017-5, Class A1, 0.785% 20571,3,10 | 1,161 | 1,154 |
Towd Point Mortgage Trust, Series 2017-6, Class A1, 2.75% 20571,3,10 | 11,322 | 11,737 |
Towd Point Mortgage Trust, Series 2017-4, Class A1, 2.75% 20571,3,10 | 7,252 | 7,502 |
Towd Point Mortgage Trust, Series 2017-3, Class A1, 2.75% 20571,3,10 | 5,937 | 6,104 |
Towd Point Mortgage Trust, Series 2018-2, Class A1, 3.25% 20581,3,10 | 13,433 | 14,212 |
Towd Point Mortgage Trust, Series 2018-5, Class A1A, 3.25% 20581,3,10 | 4,037 | 4,255 |
| | 576,907 |
Commercial mortgage-backed securities 0.55% | | |
Banc of America Commercial Mortgage Inc., Series 2015-UBS7, Class A4, 3.705% 204810 | 750 | 828 |
Banc of America Commercial Mortgage Inc., Series 2017-BNK3, Class A4, 3.574% 205010 | 115 | 129 |
Bank Commercial Mortgage Trust, Series 2019-BN17, Class A4, 3.714% 205210 | 255 | 297 |
Bank Commercial Mortgage Trust, Series 2019-BN16, Class A4, 4.005% 205210 | 5,920 | 6,981 |
Bank Commercial Mortgage Trust, Series 2017-BNK9, Class A4, 3.538% 205410 | 135 | 153 |
Bank Commercial Mortgage Trust, Series 2017-BNK7, Class A5, 3.435% 206010 | 3,750 | 4,211 |
Bank Commercial Mortgage Trust, Series 2019-BN19, Class A3, 3.183% 206110 | 2,546 | 2,868 |
Bank Commercial Mortgage Trust, Series 2018-BN10, Class A4, 3.428% 206110 | 330 | 370 |
Bank Commercial Mortgage Trust, Series 2018-BN10, Class A5, 3.688% 206110 | 2,510 | 2,860 |
Bank Commercial Mortgage Trust, Series 2019-BN12, Class A3, 3.99% 206110 | 500 | 582 |
Bank Commercial Mortgage Trust, Series 2018-BN15, Class A3, 4.138% 206110 | 500 | 589 |
Bank Commercial Mortgage Trust, Series 2018-BN13, Class A5, 4.217% 20613,10 | 250 | 296 |
Bank Commercial Mortgage Trust, Series 2018-BN12, Class A4, 4.255% 20613,10 | 11,116 | 13,160 |
Bank Commercial Mortgage Trust, Series 2020-BN26, Class A4, 2.403% 206310 | 1,654 | 1,767 |
Benchmark Mortgage Trust, Series 2018-B2, Class A4, 3.615% 205110 | 3,475 | 3,954 |
Benchmark Mortgage Trust, Series 2018-B3, Class A5, 4.025% 205110 | 5,890 | 6,870 |
Benchmark Mortgage Trust, Series 2018-B4, Class A5, 4.121% 20513,10 | 90 | 106 |
Benchmark Mortgage Trust, Series 2018-B8, Class A5, 4.232% 205210 | 6,351 | 7,581 |
Benchmark Mortgage Trust, Series 2020-B17, Class A5, 2.289% 205310 | 944 | 996 |
Benchmark Mortgage Trust, Series 2018-B7, Class A3, 4.241% 205310 | 1,000 | 1,192 |
Benchmark Mortgage Trust, Series 2018-B7, Class A4, 4.51% 20533,10 | 6,954 | 8,444 |
Benchmark Mortgage Trust, Series 2019-B13, Class A4, 2.952% 205710 | 730 | 808 |
Benchmark Mortgage Trust, Series 2019-B14, Class AS, 3.049% 206210 | 5,000 | 5,588 |
The Bond Fund of America — Page 40 of 58
unaudited
Bonds, notes & other debt instruments (continued) Mortgage-backed obligations (continued) Commercial mortgage-backed securities (continued) | Principal amount (000) | Value (000) |
Benchmark Mortgage Trust, Series 2019-B10, Class A3, 3.455% 206210 | $500 | $569 |
CD Commercial Mortgage Trust, Series 2017-CD6, Class A5, 3.456% 205010 | 5,576 | 6,245 |
Citigroup Commercial Mortgage Trust, Series 2012-GC8, Class B, 4.285% 20451,10 | 500 | 497 |
Citigroup Commercial Mortgage Trust, Series 2016-GC37, Class A4, 3.314% 204910 | 2,740 | 2,984 |
Citigroup Commercial Mortgage Trust, Series 2016-C1, Class AS, 3.514% 204910 | 600 | 654 |
Citigroup Commercial Mortgage Trust, Series 2016-GC36, Class A5, 3.616% 204910 | 1,525 | 1,686 |
Citigroup Commercial Mortgage Trust, Series 2017-B1, Class A3, 3.197% 205010 | 6,250 | 6,853 |
Citigroup Commercial Mortgage Trust, Series 2017-C4, Class A4, 3.471% 205010 | 2,930 | 3,274 |
Citigroup Commercial Mortgage Trust, Series 2020-GC46, Class A5, 2.717% 205310 | 7,700 | 8,360 |
Citigroup Commercial Mortgage Trust, Series 2019-GC41, Class AA, 2.62% 205610 | 200 | 216 |
Commercial Mortgage Trust, Series 2012-LC4, Class B, 4.934% 20443,10 | 2,300 | 2,270 |
Commercial Mortgage Trust, Series 2012-CRS, Class A4, 2.771% 204510 | 1,871 | 1,910 |
Commercial Mortgage Trust, Series 2012-CR3, Class AM, 3.416% 20451,10 | 700 | 714 |
Commercial Mortgage Trust, Series 2012-CR3, Class B, 3.922% 20451,10 | 1,015 | 1,022 |
Commercial Mortgage Trust, Series 2012-CR5, Class D, 4.463% 20451,3,10 | 2,000 | 1,775 |
Commercial Mortgage Trust, Series 2012-CR3, Class C, 4.584% 20451,3,10 | 500 | 482 |
Commercial Mortgage Trust, Series 2013-CR6, Class B, 3.397% 20461,10 | 1,000 | 1,008 |
Commercial Mortgage Trust, Series 2013-CR7, Class C, 4.215% 20461,3,10 | 2,743 | 2,599 |
Commercial Mortgage Trust, Series 2013-LC13, Class B, 5.009% 20461,3,10 | 830 | 789 |
Commercial Mortgage Trust, Series 2014-UBS4, Class A5, 3.694% 204710 | 910 | 983 |
Commercial Mortgage Trust, Series 2014-LC17, Class A5, 3.917% 204710 | 886 | 972 |
Commercial Mortgage Trust, Series 2014-CR15, Class A4, 4.074% 20473,10 | 3,000 | 3,274 |
Commercial Mortgage Trust, Series 2014-CR19, Class AM, 4.08% 204710 | 750 | 798 |
Commercial Mortgage Trust, Series 2014-LC15, Class AM, 4.198% 204710 | 850 | 906 |
Commercial Mortgage Trust, Series 2015-CR22, Class B, 3.926% 20483,10 | 5,250 | 5,439 |
Commercial Mortgage Trust, Series 2016-COR1, Class A4, 3.091% 204910 | 4,000 | 4,313 |
Commercial Mortgage Trust, Series 2017-COR2, Class A3, 3.51% 205010 | 2,261 | 2,517 |
Commercial Mortgage Trust, Series 2015-PC1, Class AM, 4.29% 20503,10 | 1,250 | 1,354 |
CSAIL Commercial Mortgage Trust, Series 2015-C4, Class C, 4.732% 20483,10 | 556 | 514 |
CSAIL Commercial Mortgage Trust, Series 2015-C1, Class B, 4.044% 20503,10 | 700 | 690 |
DBUBS Mortgage Trust, Series 2011-LC2A, Class A1, 4.537% 20441,10 | 9,991 | 10,152 |
DBUBS Mortgage Trust, Series 2011-LC3A, Class B, 5.513% 20441,3,10 | 6,500 | 6,636 |
Deutsche Bank Commercial Mortgage Trust, Series 2016-C1, Class AM, 3.539% 204910 | 500 | 526 |
GS Mortgage Securities Corp., Series 2013-GC12, Class A4, 3.135% 204610 | 1,250 | 1,306 |
GS Mortgage Securities Corp., Series 2013-GC14, Class D, 4.902% 20461,3,10 | 1,600 | 1,230 |
GS Mortgage Securities Corp. II, Series 2010-C2, Class A2, 5.162% 20431,3,10 | 4,000 | 4,033 |
GS Mortgage Securities Corp. II, Series 2011-GC5, Class B, 5.555% 20441,3,10 | 1,244 | 1,218 |
GS Mortgage Securities Corp. II, Series 2012-GCJ7, Class A4, 3.377% 204510 | 759 | 771 |
GS Mortgage Securities Corp. II, Series 2013-GC10, Class B, 3.682% 20461,10 | 4,500 | 4,549 |
GS Mortgage Securities Corp. II, Series 2014-GC18, Class B, 4.885% 20473,10 | 2,500 | 2,564 |
GS Mortgage Securities Corp. II, Series 2016-GS4, Class A4, 3.442% 20493,10 | 2,654 | 2,939 |
GS Mortgage Securities Corp. II, Series 2017-GS7, Class A4, 3.43% 205010 | 1,000 | 1,121 |
GS Mortgage Securities Corp. II, Series 2020-GC47, Class A5, 2.377% 205310 | 9,983 | 10,592 |
GS Mortgage Securities Corp. II, Series 2020-GC45, Class A5, 2.9106% 205310 | 174 | 192 |
GS Mortgage Securities Trust, Series 2019-GC38, Class A4, 3.968% 205210 | 255 | 297 |
Hawaii Hotel Trust, Series 2019-MAUI, Class A, (1-month USD-LIBOR + 1.15%) 1.335% 20381,3,10 | 2,000 | 1,937 |
JPMBB Commercial Mortgage Securities Trust, Series 2014-C19, Class A4, 3.9965% 204710 | 2,450 | 2,660 |
JPMBB Commercial Mortgage Securities Trust, Series 2014-C18, Class A5, 4.079% 204710 | 1,825 | 1,983 |
JPMBB Commercial Mortgage Securities Trust, Series 2014-C19, Class D, 4.833% 20471,3,10 | 2,500 | 2,115 |
JPMBB Commercial Mortgage Securities Trust, Series 2014-C26, Class B, 3.9508% 204810 | 3,500 | 3,574 |
JPMBB Commercial Mortgage Securities Trust, Series 2015-C31, Class C, 4.773% 20483,10 | 600 | 552 |
JPMDB Commercial Mortgage Securities Trust, Series 2017-C5, Class A5, 3.694% 205010 | 1,600 | 1,804 |
JPMorgan Chase Commercial Mortgage Securities Trust, Series 2018-BCON, Class A, 3.735% 20311,10 | 3,955 | 4,138 |
JPMorgan Chase Commercial Mortgage Securities Trust, Series 2013-C16, Class A4, 4.1664% 204610 | 1,020 | 1,105 |
The Bond Fund of America — Page 41 of 58
unaudited
Bonds, notes & other debt instruments (continued) Mortgage-backed obligations (continued) Commercial mortgage-backed securities (continued) | Principal amount (000) | Value (000) |
JPMorgan Chase Commercial Mortgage Securities Trust, Series 2013-C10, Class C, 4.112% 20473,10 | $750 | $743 |
JPMorgan Chase Commercial Mortgage Securities Trust, Series 2016-JP4, Class A4, 3.648% 20493,10 | 5,095 | 5,712 |
L.A. Arena Funding, LLC, Series 1, Class A, 7.656% 20261,10 | 9,296 | 9,111 |
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2013-C9, Class A4, 3.102% 204610 | 2,175 | 2,261 |
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2013-C9, Class B, 3.708% 20463,10 | 1,511 | 1,535 |
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2013-C13, Class A4, 4.039% 204610 | 1,934 | 2,067 |
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2013-C7, Class D, 4.375% 20461,3,10 | 2,700 | 2,012 |
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2013-C13, Class B, 4.915% 20463,10 | 1,000 | 1,041 |
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C27, Class A4, 3.753% 204710 | 525 | 582 |
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2014-C19, Class B, 4.00% 20473,10 | 2,000 | 2,084 |
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C22, Class A4, 4.051% 204710 | 250 | 272 |
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C22, Class A-4, 3.306% 204810 | 1,870 | 2,001 |
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C25, Class A-4, 3.372% 204810 | 1,300 | 1,412 |
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2016-C30, Class A4, 2.60% 204910 | 250 | 264 |
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2016-C31, Class AS, 3.102% 204910 | 3,000 | 3,211 |
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2016-C32, Class A-4, 3.72% 204910 | 5,280 | 5,930 |
Morgan Stanley Capital I Trust, Series 2014-CPT, Class A, 3.35% 20291,10 | 6,885 | 7,020 |
Morgan Stanley Capital I Trust, Series 2011-C2, Class A4, 4.661% 20441,10 | 4,717 | 4,844 |
Morgan Stanley Capital I Trust, Series 2011-C1, Class A4, 5.033% 20471,3,10 | 418 | 422 |
Morgan Stanley Capital I Trust, Series 2015-UBS8, Class AS, 4.114% 204810 | 1,730 | 1,875 |
Morgan Stanley Capital I Trust, Series 2016-UBS9, Class C, 4.698% 20493,10 | 567 | 523 |
Wells Fargo Commercial Mortgage Trust, Series 2013-LC12, Class B, 4.411% 20463,10 | 1,200 | 1,097 |
Wells Fargo Commercial Mortgage Trust, Series 2014-LC18, Class A5, 3.405% 204710 | 290 | 304 |
Wells Fargo Commercial Mortgage Trust, Series 2015-C28, Class A4, 3.54% 204810 | 4,380 | 4,784 |
Wells Fargo Commercial Mortgage Trust, Series 2015-C31, Class A4, 3.695% 204810 | 1,400 | 1,524 |
Wells Fargo Commercial Mortgage Trust, Series 2015-SG1, Class A-4, 3.789% 204810 | 7,115 | 7,753 |
Wells Fargo Commercial Mortgage Trust, Series 2015-P2, Class A4, 3.809% 204810 | 1,137 | 1,271 |
Wells Fargo Commercial Mortgage Trust, Series 2015-C28, Class C, 4.24% 20483,10 | 585 | 546 |
Wells Fargo Commercial Mortgage Trust, Series 2016-BNK1, Class B, 2.967% 204910 | 865 | 822 |
Wells Fargo Commercial Mortgage Trust, Series 2016-C34, Class A4, 3.096% 204910 | 6,190 | 6,628 |
Wells Fargo Commercial Mortgage Trust, Series 2016-C34, Class AS, 3.484% 204910 | 380 | 399 |
Wells Fargo Commercial Mortgage Trust, Series 2016-C37, Class A5, 3.794% 204910 | 6,370 | 7,206 |
Wells Fargo Commercial Mortgage Trust, Series 2017-C40, Class A4, 3.581% 205010 | 1,154 | 1,302 |
Wells Fargo Commercial Mortgage Trust, Series 2014-LC16, Class A5, 3.817% 205010 | 2,302 | 2,485 |
Wells Fargo Commercial Mortgage Trust, Series 2018-C46, Class A3, 3.888% 205110 | 6,500 | 7,483 |
Wells Fargo Commercial Mortgage Trust, Series 2019-C54, Class A4, 3.146% 205210 | 3,898 | 4,362 |
Wells Fargo Commercial Mortgage Trust, Series 2015-LC22, Class C, 4.687% 20583,10 | 1,000 | 945 |
Wells Fargo Commercial Mortgage Trust, Series 2016-C36, Class A4, 3.065% 205910 | 3,853 | 4,181 |
Wells Fargo Commercial Mortgage Trust, Series 2016-C33, Class A4, 3.426% 205910 | 1,320 | 1,434 |
Wells Fargo Commercial Mortgage Trust, Series 2016-NXS5, Class AS, 3.988% 205910 | 600 | 645 |
Wells Fargo Commercial Mortgage Trust, Series 2017-RC1, Class A4, 3.631% 206010 | 510 | 570 |
WF-RBS Commercial Mortgage Trust, Series 2011-C5, Class B, 5.845% 20441,3,10 | 1,500 | 1,523 |
WF-RBS Commercial Mortgage Trust, Series 2013-C13, Class B, 3.553% 204510 | 500 | 504 |
WF-RBS Commercial Mortgage Trust, Series 2013-C11, Class B, 3.714% 20453,10 | 1,000 | 1,014 |
WF-RBS Commercial Mortgage Trust, Series 2013-C16, Class B, 5.20% 20463,10 | 1,200 | 1,120 |
WF-RBS Commercial Mortgage Trust, Series 2014-C19, Class B, 4.723% 20473,10 | 2,000 | 2,070 |
WF-RBS Commercial Mortgage Trust, Series 2014-C22, Class A4, 3.488% 205710 | 2,038 | 2,192 |
| | 323,377 |
Total mortgage-backed obligations | | 19,980,075 |
The Bond Fund of America — Page 42 of 58
unaudited
Bonds, notes & other debt instruments (continued) U.S. Treasury bonds & notes 20.16% U.S. Treasury 18.74% | Principal amount (000) | Value (000) |
U.S. Treasury 2.50% 2020 | $50,000 | $50,582 |
U.S. Treasury 1.125% 2021 | 500 | 506 |
U.S. Treasury 1.125% 2021 | —9 | —9 |
U.S. Treasury 1.25% 2021 | 40,000 | 40,581 |
U.S. Treasury 1.50% 2021 | 161,000 | 164,056 |
U.S. Treasury 1.625% 2021 | 57,661 | 58,503 |
U.S. Treasury 1.625% 2021 | 360 | 368 |
U.S. Treasury 1.75% 2021 | 935 | 956 |
U.S. Treasury 2.00% 2021 | 3,000 | 3,064 |
U.S. Treasury 2.00% 2021 | 1,000 | 1,025 |
U.S. Treasury 2.125% 2021 | 100,000 | 101,793 |
U.S. Treasury 2.50% 202112 | 575,000 | 583,918 |
U.S. Treasury 0.125% 2022 | 250,000 | 249,853 |
U.S. Treasury 0.125% 2022 | 13,745 | 13,736 |
U.S. Treasury 0.375% 2022 | 2,563 | 2,572 |
U.S. Treasury 1.375% 2022 | 75,000 | 77,075 |
U.S. Treasury 1.50% 2022 | 211,000 | 217,018 |
U.S. Treasury 1.625% 2022 | 6,000 | 6,216 |
U.S. Treasury 1.75% 2022 | 45,000 | 46,455 |
U.S. Treasury 1.875% 2022 | 54,500 | 56,206 |
U.S. Treasury 2.125% 202212 | 32,000 | 33,565 |
U.S. Treasury 0.125% 2023 | 32,000 | 31,957 |
U.S. Treasury 1.375% 2023 | 72,000 | 74,591 |
U.S. Treasury 1.625% 2023 | 15,000 | 15,616 |
U.S. Treasury 1.75% 2023 | 3,100 | 3,241 |
U.S. Treasury 2.125% 2023 | 16,428 | 17,509 |
U.S. Treasury 2.50% 2023 | 10,300 | 10,959 |
U.S. Treasury 2.625% 2023 | 15,000 | 16,099 |
U.S. Treasury 2.75% 2023 | 100,000 | 107,492 |
U.S. Treasury 2.875% 2023 | 54,729 | 59,494 |
U.S. Treasury 1.25% 2024 | 75,000 | 78,146 |
U.S. Treasury 1.50% 2024 | 130,777 | 137,734 |
U.S. Treasury 1.50% 2024 | 78,200 | 82,416 |
U.S. Treasury 1.50% 2024 | 12,000 | 12,659 |
U.S. Treasury 1.75% 2024 | 40,000 | 42,431 |
U.S. Treasury 1.75% 2024 | 13,103 | 13,912 |
U.S. Treasury 2.00% 2024 | 442,300 | 472,987 |
U.S. Treasury 2.00% 2024 | 183,000 | 195,460 |
U.S. Treasury 2.00% 2024 | 55,000 | 58,882 |
U.S. Treasury 2.125% 2024 | 105,265 | 112,789 |
U.S. Treasury 2.125% 2024 | 18,000 | 19,481 |
U.S. Treasury 2.125% 2024 | 8,000 | 8,636 |
U.S. Treasury 2.25% 2024 | 50,633 | 54,565 |
U.S. Treasury 2.25% 2024 | 33,000 | 35,943 |
U.S. Treasury 2.375% 2024 | 67,233 | 72,559 |
U.S. Treasury 2.50% 2024 | 4,000 | 4,352 |
U.S. Treasury 0.25% 2025 | 176,547 | 176,222 |
U.S. Treasury 0.25% 2025 | 90,650 | 90,533 |
U.S. Treasury 0.375% 2025 | 711,800 | 714,996 |
U.S. Treasury 0.50% 2025 | 17,127 | 17,307 |
U.S. Treasury 2.00% 2025 | 97,000 | 104,722 |
U.S. Treasury 2.125% 2025 | 61,750 | 67,238 |
U.S. Treasury 2.25% 2025 | 35,000 | 38,558 |
U.S. Treasury 2.625% 2025 | 157,324 | 174,753 |
The Bond Fund of America — Page 43 of 58
unaudited
Bonds, notes & other debt instruments (continued) U.S. Treasury bonds & notes (continued) U.S. Treasury (continued) | Principal amount (000) | Value (000) |
U.S. Treasury 2.625% 2025 | $63,822 | $71,717 |
U.S. Treasury 2.75% 202512 | 992,493 | 1,106,471 |
U.S. Treasury 2.75% 2025 | 31,813 | 35,684 |
U.S. Treasury 2.875% 2025 | 287,175 | 323,385 |
U.S. Treasury 2.875% 2025 | 32,900 | 37,163 |
U.S. Treasury 1.625% 2026 | 145,900 | 156,724 |
U.S. Treasury 1.625% 2026 | 10,000 | 10,736 |
U.S. Treasury 1.625% 2026 | —9 | —9 |
U.S. Treasury 1.75% 2026 | 200,000 | 216,610 |
U.S. Treasury 1.875% 2026 | 41,000 | 44,598 |
U.S. Treasury 2.00% 2026 | 15,600 | 17,127 |
U.S. Treasury 2.125% 2026 | 54,000 | 59,456 |
U.S. Treasury 2.25% 2026 | 8,000 | 8,852 |
U.S. Treasury 2.50% 2026 | 24,000 | 26,868 |
U.S. Treasury 2.625% 2026 | 142,585 | 160,431 |
U.S. Treasury 0.50% 202712 | 556,100 | 556,823 |
U.S. Treasury 0.625% 2027 | 8,000 | 8,079 |
U.S. Treasury 2.25% 2027 | 220,486 | 248,254 |
U.S. Treasury 2.25% 2027 | 3,000 | 3,350 |
U.S. Treasury 2.75% 2028 | 17,398 | 20,293 |
U.S. Treasury 2.875% 2028 | 61,335 | 72,376 |
U.S. Treasury 2.875% 2028 | 3,760 | 4,452 |
U.S. Treasury 1.625% 2029 | 398 | 434 |
U.S. Treasury 2.375% 2029 | 6,795 | 7,840 |
U.S. Treasury 0.625% 2030 | 57,847 | 57,671 |
U.S. Treasury 1.50% 2030 | 31,576 | 34,125 |
U.S. Treasury 1.125% 204012 | 204,476 | 202,558 |
U.S. Treasury 4.625% 2040 | 9,400 | 15,249 |
U.S. Treasury 3.125% 2041 | 20,000 | 27,086 |
U.S. Treasury 4.375% 2041 | 11,500 | 18,291 |
U.S. Treasury 2.75% 2042 | 15,000 | 19,239 |
U.S. Treasury 2.875% 2043 | 23,810 | 31,119 |
U.S. Treasury 3.00% 2044 | 5,900 | 7,900 |
U.S. Treasury 3.375% 2044 | 38,700 | 54,751 |
U.S. Treasury 3.00% 204512 | 27,100 | 36,524 |
U.S. Treasury 3.00% 2045 | 5,560 | 7,466 |
U.S. Treasury 2.50% 204612 | 194,262 | 240,620 |
U.S. Treasury 2.50% 2046 | 27,000 | 33,495 |
U.S. Treasury 2.875% 2046 | 22,854 | 30,389 |
U.S. Treasury 2.75% 204712 | 32,098 | 41,931 |
U.S. Treasury 2.75% 2047 | 5,300 | 6,932 |
U.S. Treasury 3.00% 204712 | 86,916 | 118,480 |
U.S. Treasury 3.00% 2047 | 13,950 | 19,000 |
U.S. Treasury 3.00% 204812 | 179,901 | 246,254 |
U.S. Treasury 3.125% 2048 | 11,150 | 15,619 |
U.S. Treasury 3.375% 204812 | 12,545 | 18,424 |
U.S. Treasury 2.25% 204912 | 182,647 | 219,578 |
U.S. Treasury 2.375% 204912 | 156,608 | 193,326 |
U.S. Treasury 2.875% 204912 | 241,100 | 326,081 |
U.S. Treasury 3.00% 204912 | 74,066 | 102,227 |
U.S. Treasury 1.25% 205012 | 706,237 | 678,150 |
U.S. Treasury 2.00% 2050 | 211,315 | 241,902 |
| | 11,074,397 |
The Bond Fund of America — Page 44 of 58
unaudited
Bonds, notes & other debt instruments (continued) U.S. Treasury bonds & notes (continued) U.S. Treasury inflation-protected securities 1.42% | Principal amount (000) | Value (000) |
U.S. Treasury Inflation-Protected Security 0.125% 202413 | $19,991 | $20,950 |
U.S. Treasury Inflation-Protected Security 0.50% 202413 | 30,504 | 32,079 |
U.S. Treasury Inflation-Protected Security 0.375% 202713 | 28,096 | 30,565 |
U.S. Treasury Inflation-Protected Security 1.75% 202813 | 5,141 | 6,141 |
U.S. Treasury Inflation-Protected Security 0.125% 203013 | 56,447 | 61,032 |
U.S. Treasury Inflation-Protected Security 2.125% 204113 | 4,005 | 5,987 |
U.S. Treasury Inflation-Protected Security 0.75% 204212,13 | 194,355 | 233,282 |
U.S. Treasury Inflation-Protected Security 1.00% 204813 | 17,887 | 23,692 |
U.S. Treasury Inflation-Protected Security 1.00% 204912,13 | 245,353 | 328,093 |
U.S. Treasury Inflation-Protected Security 0.25% 205013 | 87,579 | 98,442 |
| | 840,263 |
Total U.S. Treasury bonds & notes | | 11,914,660 |
Asset-backed obligations 2.40% | | |
Aesop Funding LLC, Series 2015-1A, Class A, 2.50% 20211,10 | 1,741 | 1,740 |
Aesop Funding LLC, Series 2015-2A, Class A, 2.63% 20211,10 | 9,175 | 9,176 |
Aesop Funding LLC, Series 2019-1A, Class A, 3.45% 20231,10 | 5,705 | 5,731 |
Aesop Funding LLC, Series 2017-2A, Class A, 2.97% 20241,10 | 4,495 | 4,517 |
Aesop Funding LLC, Series 2018-1A, Class A, 3.70% 20241,10 | 1,350 | 1,362 |
Aesop Funding LLC, Series 2019-2A, Class A, 3.35% 20251,10 | 1,000 | 1,016 |
Aesop Funding LLC, Series 2018-2A, Class A, 4.00% 20251,10 | 28,000 | 28,332 |
Aesop Funding LLC, Series 2020-1A, Class A, 2.33% 20261,10 | 34,264 | 33,251 |
Aesop Funding LLC, Series 2019-3A, Class A, 2.36% 20261,10 | 3,750 | 3,709 |
American Express Credit Account Master Trust, Series 2017-7, Class A, 2.35% 202510 | 1,260 | 1,317 |
AmeriCredit Automobile Receivables Trust, Series 2016-2, Class C, 2.87% 202110 | 105 | 105 |
AmeriCredit Automobile Receivables Trust, Series 2016-3, Class C, 2.24% 202210 | 3,157 | 3,169 |
AmeriCredit Automobile Receivables Trust, Series 2017-1, Class C, 2.71% 202210 | 6,030 | 6,097 |
CarMaxAuto Owner Trust, Series 2020-1, Class A2, 1.87% 202310 | 50,839 | 51,423 |
CarMaxAuto Owner Trust, Series 2019-2, Class C, 3.16% 202510 | 650 | 661 |
Cloud Pass-Through Trust, Series 2019-1A, Class CLOU, 3.554% 20221,3,10 | 13,063 | 13,275 |
CPS Auto Receivables Trust, Series 2019-D, Class A, 2.17% 20221,10 | 11,361 | 11,427 |
CPS Auto Receivables Trust, Series 2019-B, Class A, 2.89% 20221,10 | 403 | 404 |
CPS Auto Receivables Trust, Series 2017-B, Class C, 2.92% 20221,10 | 1,169 | 1,171 |
CPS Auto Receivables Trust, Series 2018-A, Class C, 3.05% 20231,10 | 1,240 | 1,248 |
CPS Auto Receivables Trust, Series 2019-B, Class B, 3.09% 20231,10 | 2,000 | 2,020 |
CPS Auto Receivables Trust, Series 2019-B, Class C, 3.35% 20241,10 | 2,570 | 2,620 |
CPS Auto Receivables Trust, Series 2019-C, Class C, 2.84% 20251,10 | 2,169 | 2,192 |
CPS Auto Receivables Trust, Series 2019-C, Class D, 3.17% 20251,10 | 2,025 | 2,035 |
CPS Auto Receivables Trust, Series 2019-B, Class D, 3.69% 20251,10 | 5,325 | 5,420 |
CPS Auto Receivables Trust, Series 2020-B, Class C, 3.30% 20261,10 | 681 | 699 |
CPS Auto Receivables Trust, Series 2020-B, Class D, 4.75% 20261,10 | 598 | 626 |
Credit Acceptance Auto Loan Trust, Series 2017-3A, Class C, 3.48% 20261,10 | 2,695 | 2,697 |
Credit Acceptance Auto Loan Trust, Series 2018-3A, Class C, 4.04% 20271,10 | 1,485 | 1,526 |
Credit Acceptance Auto Loan Trust, Series 2020-1A, Class A, 2.01% 20291,10 | 15,748 | 16,025 |
Credit Acceptance Auto Loan Trust, Series 2020-1A, Class B, 2.39% 20291,10 | 4,118 | 4,172 |
CWHEQ Revolving Home Equity Loan Trust, Series 2005-C, Class 2A, FSA insured, (1-month USD-LIBOR + 0.18%) 0.365% 20353,10 | 1,557 | 1,491 |
CWHEQ Revolving Home Equity Loan Trust, Series 2006-I, Class 2A, FSA insured, (1-month USD-LIBOR + 0.14%) 0.325% 20373,10 | 2,519 | 2,373 |
CWHEQ Revolving Home Equity Loan Trust, Series 2007-B, Class A, FSA insured, (1-month USD-LIBOR + 0.15%) 0.335% 20373,10 | 3,933 | 3,725 |
Drive Auto Receivables Trust, Series 2020-1, Class A2, 1.99% 202210 | 17,775 | 17,854 |
Drive Auto Receivables Trust, Series 2019-2, Class B, 3.17% 202310 | 4,660 | 4,712 |
The Bond Fund of America — Page 45 of 58
unaudited
Bonds, notes & other debt instruments (continued) Asset-backed obligations (continued) | Principal amount (000) | Value (000) |
Drive Auto Receivables Trust, Series 2019-3, Class B, 2.65% 202410 | $3,970 | $4,007 |
Drive Auto Receivables Trust, Series 2018-2, Class C, 3.63% 202410 | 697 | 701 |
Drive Auto Receivables Trust, Series 2018-3, Class C, 3.72% 202410 | 90 | 90 |
Drive Auto Receivables Trust, Series 2018-1, Class D, 3.81% 202410 | 70 | 71 |
Drive Auto Receivables Trust, Series 2020-2, Class B, 1.42% 202510 | 1,535 | 1,541 |
Drive Auto Receivables Trust, Series 2019-3, Class C, 2.90% 202510 | 12,690 | 12,895 |
Drive Auto Receivables Trust, Series 2019-2, Class C, 3.42% 202510 | 8,760 | 8,913 |
Drive Auto Receivables Trust, Series 2020-2, Class C, 2.28% 202610 | 1,874 | 1,895 |
Drive Auto Receivables Trust, Series 2019-3, Class D, 3.18% 202610 | 6,030 | 6,127 |
Drive Auto Receivables Trust, Series 2020-2, Class D, 3.05% 202810 | 2,586 | 2,626 |
Drivetime Auto Owner Trust, Series 2019-3, Class A, 2.55% 20221,10 | 4,699 | 4,723 |
Drivetime Auto Owner Trust, Series 2019-2A, Class A, 2.85% 20221,10 | 1,496 | 1,503 |
Drivetime Auto Owner Trust, Series 2018-3A, Class A, 3.26% 20221,10 | 108 | 109 |
Drivetime Auto Owner Trust, Series 2018-3A, Class B, 3.56% 20221,10 | 415 | 418 |
Drivetime Auto Owner Trust, Series 2020-1, Class A, 1.94% 20231,10 | 10,986 | 11,056 |
Drivetime Auto Owner Trust, Series 2019-4A, Class A, 2.17% 20231,10 | 17,115 | 17,220 |
Drivetime Auto Owner Trust, Series 2019-3, Class B, 2.60% 20231,10 | 1,570 | 1,589 |
Drivetime Auto Owner Trust, Series 2019-2A, Class B, 2.99% 20231,10 | 3,240 | 3,274 |
Drivetime Auto Owner Trust, Series 2018-1A, Class C, 3.47% 20231,10 | 3,058 | 3,072 |
Drivetime Auto Owner Trust, Series 2020-1, Class B, 2.16% 20241,10 | 2,000 | 2,018 |
Drivetime Auto Owner Trust, Series 2018-2A, Class C, 3.67% 20241,10 | 100 | 101 |
Drivetime Auto Owner Trust, Series 2019-3, Class C, 2.74% 20251,10 | 1,925 | 1,948 |
Drivetime Auto Owner Trust, Series 2019-3, Class D, 2.96% 20251,10 | 2,870 | 2,886 |
Drivetime Auto Owner Trust, Series 2019-2A, Class C, 3.18% 20251,10 | 5,765 | 5,851 |
Drivetime Auto Owner Trust, Series 2019-2A, Class D, 3.48% 20251,10 | 6,800 | 6,905 |
Drivetime Auto Owner Trust, Series 2020-2A, Class C, 3.28% 20261,10 | 1,861 | 1,923 |
Drivetime Auto Owner Trust, Series 2020-2A, Class D, 4.73% 20261,10 | 313 | 331 |
Exeter Automobile Receivables Trust, Series 2017-3A, Class B, 2.81% 20221,10 | 5,194 | 5,214 |
Exeter Automobile Receivables Trust, Series 2019-2A, Class A, 2.93% 20221,10 | 987 | 989 |
Exeter Automobile Receivables Trust, Series 2020-2A, Class A, 1.13% 20231,10 | 2,250 | 2,254 |
Exeter Automobile Receivables Trust, Series 2020-1A, Class A, 2.05% 20231,10 | 26,584 | 26,748 |
Exeter Automobile Receivables Trust, Series 2019-4A, Class A, 2.18% 20231,10 | 14,617 | 14,698 |
Exeter Automobile Receivables Trust, Series 2019-3A, Class B, 2.58% 20231,10 | 8,200 | 8,296 |
Exeter Automobile Receivables Trust, Series 2019-2A, Class B, 3.06% 20231,10 | 9,875 | 9,958 |
Exeter Automobile Receivables Trust, Series 2017-3A, Class C, 3.68% 20231,10 | 1,750 | 1,782 |
Exeter Automobile Receivables Trust, Series 2020-2A, Class B, 2.08% 20241,10 | 1,580 | 1,595 |
Exeter Automobile Receivables Trust, Series 2020-1A, Class B, 2.26% 20241,10 | 3,500 | 3,537 |
Exeter Automobile Receivables Trust, Series 2019-3A, Class C, 2.79% 20241,10 | 9,000 | 9,145 |
Exeter Automobile Receivables Trust, Series 2019-2A, Class C, 3.30% 20241,10 | 7,850 | 7,981 |
Exeter Automobile Receivables Trust, Series 2019-1A, Class C, 3.82% 20241,10 | 4,150 | 4,240 |
Exeter Automobile Receivables Trust, Series 2020-1A, Class C, 2.49% 20251,10 | 6,890 | 6,960 |
Exeter Automobile Receivables Trust, Series 2019-3A, Class D, 3.11% 20251,10 | 9,000 | 9,089 |
Exeter Automobile Receivables Trust, Series 2020-2A, Class C, 3.28% 20251,10 | 2,715 | 2,799 |
Exeter Automobile Receivables Trust, Series 2019-2A, Class D, 3.71% 20251,10 | 10,000 | 10,229 |
Exeter Automobile Receivables Trust, Series 2020-2, Class D, 4.73% 20261,10 | 2,055 | 2,175 |
First Investors Auto Owner Trust, Series 2019-1A, Class A, 2.89% 20241,10 | 925 | 939 |
Ford Credit Auto Owner Trust, Series 2017-3, Class A, 2.48% 202410 | 2,521 | 2,553 |
Ford Credit Auto Owner Trust, Series 2020-B, Class B, 1.19% 202610 | 4,390 | 4,407 |
Ford Credit Auto Owner Trust, Series 2020-B, Class C, 2.04% 202610 | 2,535 | 2,539 |
Ford Credit Auto Owner Trust, Series 2016-2, Class A, 2.03% 20271,10 | 33,660 | 34,061 |
Ford Credit Auto Owner Trust, Series 2018-1, Class A, 3.52% 20301,10 | 19,510 | 20,897 |
Ford Credit Auto Owner Trust, Series 2020-1, Class A, 2.04% 20311,10 | 97,433 | 99,167 |
Ford Credit Auto Owner Trust, Series 2018-1, Class A, 3.19% 20311,10 | 38,760 | 41,571 |
Ford Credit Floorplan Master Owner Trust, Series 2019-3, Class A1, 2.23% 202410 | 119,107 | 121,046 |
The Bond Fund of America — Page 46 of 58
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Bonds, notes & other debt instruments (continued) Asset-backed obligations (continued) | Principal amount (000) | Value (000) |
Ford Credit Floorplan Master Owner Trust, Series 2019-4, Class A, 2.44% 202610 | $6,414 | $6,489 |
Global SC Finance II SRL, Series 2017-1A, Class A, 3.85% 20371,10 | 5,251 | 5,212 |
Global SC Finance V SRL, Series 2019-1A, Class B, 4.81% 20391,10 | 11,082 | 10,902 |
GM Financial Automobile Leasing Trust, Series 2020-2, Class A3, 0.80% 202310 | 1,636 | 1,640 |
GM Financial Automobile Leasing Trust, Series 2020-1, Class A2, 1.83% 202310 | 70,929 | 71,504 |
GM Financial Automobile Leasing Trust, Series 2020-2, Class A4, 1.01% 202410 | 1,396 | 1,400 |
GM Financial Automobile Leasing Trust, Series 2020-2, Class B, 1.56% 202410 | 2,441 | 2,450 |
GM Financial Automobile Leasing Trust, Series 2020-2, Class C, 2.56% 202410 | 1,580 | 1,586 |
GM Financial Automobile Leasing Trust, Series 2020-2, Class D, 3.21% 202410 | 2,492 | 2,502 |
GM Financial Automobile Leasing Trust, Series 2019-4, Class B, 2.04% 202510 | 1,052 | 1,069 |
GM Financial Automobile Leasing Trust, Series 2019-4, Class C, 2.44% 202510 | 1,521 | 1,537 |
GM Financial Consumer Automobile Receivables Trust, Series 2020-2, Class A2B, 1.245% 20233,10 | 4,758 | 4,791 |
GM Financial Consumer Automobile Receivables Trust, Series 2018-1, Class B, 2.57% 202310 | 765 | 781 |
GM Financial Consumer Automobile Receivables Trust, Series 2018-1, Class C, 2.77% 202310 | 530 | 541 |
GM Financial Consumer Automobile Receivables Trust, Series 2020-2, Class A3, 1.49% 202410 | 2,116 | 2,164 |
GM Financial Consumer Automobile Receivables Trust, Series 2019-2, Class B, 2.87% 202410 | 1,315 | 1,367 |
GM Financial Consumer Automobile Receivables Trust, Series 2019-2, Class C, 3.07% 202410 | 4,285 | 4,429 |
GMF Floorplan Owner Revolving Trust, Series 2019-2, Class A, 2.90% 20261,10 | 256 | 267 |
Henderson Receivables LLC, Series 2006-3A, Class A1, (1-month USD-LIBOR + 0.20%) 0.385% 20411,3,10 | 856 | 815 |
Henderson Receivables LLC, Series 2006-4A, Class A1, (1-month USD-LIBOR + 0.20%) 0.385% 20411,3,10 | 599 | 589 |
Hertz Vehicle Financing LLC, Rental Car Asset-Backed Notes, Series 2016-4A, Class A, 2.65% 20221,10 | 3,220 | 3,175 |
Hertz Vehicle Financing LLC, Rental Car Asset-Backed Notes, Series 2017-2A, Class A, 3.29% 20231,10 | 12,081 | 11,992 |
Hertz Vehicle Financing LLC, Rental Car Asset-Backed Notes, Series 2018-1A, Class A, 3.29% 20241,10 | 12,984 | 12,887 |
Hertz Vehicle Financing LLC, Rental Car Asset-Backed Notes, Series 2018-3A, Class A, 4.03% 20241,10 | 7,880 | 7,812 |
Hertz Vehicle Financing LLC, Rental Car Asset-Backed Notes, Series 2019-3A, Class A, 2.67% 20251,10 | 19,216 | 19,070 |
Hertz Vehicle Financing LLC, Rental Car Asset-Backed Notes, Series 2019-2A, Class A, 3.42% 20251,10 | 11,640 | 11,530 |
Home Equity Asset Trust, Series 2004-7, Class M1, (1-month USD-LIBOR + 0.62%) 1.115% 20353,10 | 1,717 | 1,708 |
Hyundai Auto Lease Securitization Trust, Series 2020-A, Class A2, 1.90% 20221,10 | 23,750 | 23,990 |
Mercedes-Benz Auto Lease Trust, Series 2020-A, Class A2, 1.82% 202210 | 12,731 | 12,802 |
OSW Structured Asset Trust, Series 2020-RPL1, Class A1, 3.072% 20601,3,10 | 9,298 | 9,485 |
Palmer Square Loan Funding, CLO, Series 2019-2, Class A1, (3-month USD-LIBOR + 0.97%) 2.105% 20271,3,10 | 15,040 | 14,902 |
Palmer Square Loan Funding, CLO, Series 2019-1A, Class A1, (3-month USD-LIBOR + 1.05%) 2.185% 20271,3,10 | 26,372 | 26,255 |
Prestige Auto Receivables Trust, Series 2019-1A, Class C, 2.70% 20241,10 | 3,940 | 3,996 |
Prestige Auto Receivables Trust, Series 2019-1A, Class D, 3.01% 20251,10 | 2,435 | 2,455 |
Residential Funding Mortgage Securities II, Inc., Series 2006-HSA3, Class A, FSA insured, (1-month USD-LIBOR + 0.13%) 0.315% 20363,10 | 247 | 241 |
Santander Consumer Auto Receivables Trust, Series 2020-A, Class A, 1.37% 20241,10 | 2,355 | 2,369 |
Santander Consumer Auto Receivables Trust, Series 2020-A, Class B, 2.26% 20251,10 | 1,035 | 1,055 |
Santander Consumer Auto Receivables Trust, Series 2020-A, Class C, 3.71% 20261,10 | 1,000 | 1,052 |
Santander Drive Auto Receivables Trust, Series 2016-3, Class C, 2.46% 202210 | 154 | 154 |
Santander Drive Auto Receivables Trust, Series 2017-1, Class C, 2.58% 202210 | 328 | 328 |
Santander Drive Auto Receivables Trust, Series 2017-3, Class C, 2.76% 202210 | 3,018 | 3,031 |
Santander Drive Auto Receivables Trust, Series 2019-2, Class B, 2.79% 202410 | 4,880 | 4,957 |
Santander Drive Auto Receivables Trust, Series 2020-1, Class B, 3.03% 202410 | 8,621 | 8,913 |
Santander Drive Auto Receivables Trust, Series 2019-2, Class D, 3.22% 202510 | 4,975 | 5,110 |
Santander Drive Auto Receivables Trust, Series 2020-1, Class C, 4.11% 202510 | 25,000 | 26,588 |
Social Professional Loan Program LLC, Series 2015-C, Class A2, 2.51% 20331,10 | 1,039 | 1,048 |
Symphony Ltd., CLO, Series 2013-12A, Class AR, (3-month USD-LIBOR + 1.03%) 2.249% 20251,3,10 | 21,286 | 21,211 |
TAL Advantage V LLC, Series 2013-2A, Class A, 3.55% 20381,10 | 2,257 | 2,275 |
TAL Advantage V LLC, Series 2014-1A, Class A, 3.51% 20391,10 | 1,500 | 1,493 |
TAL Advantage V LLC, Series 2017-1A, Class A, 4.50% 20421,10 | 5,182 | 5,246 |
Toyota Auto Loan Extended Note Trust, Series 2019-1, Class A, 2.56% 20311,10 | 6,000 | 6,395 |
Toyota Auto Loan Extended Note Trust, Series 2020-1, Class A, 1.35% 20331,10 | 38,324 | 38,966 |
The Bond Fund of America — Page 47 of 58
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Bonds, notes & other debt instruments (continued) Asset-backed obligations (continued) | Principal amount (000) | Value (000) |
Triton Container Finance LLC, Series 2017-1A, Class A, 3.52% 20421,10 | $5,310 | $5,306 |
Verizon Owner Trust, Series 2017-1A, Class B, 2.45% 20211,10 | 1,134 | 1,135 |
Verizon Owner Trust, Series 2017-1A, Class C, 2.65% 20211,10 | 3,000 | 3,001 |
Verizon Owner Trust, Series 2017-3A, Class A1A, 2.06% 20221,10 | 2,348 | 2,359 |
Verizon Owner Trust, Series 2017-3A, Class B, 2.38% 20221,10 | 4,950 | 4,997 |
Verizon Owner Trust, Series 2020-A, Class A1A, 1.85% 202410 | 13,528 | 13,899 |
Volkswagen Auto Lease Trust, Series 2019-A, Class A2A, 2.00% 202210 | 50,084 | 50,555 |
Voya Ltd., CLO, Series 2014-3A, Class A1R, (3-month USD-LIBOR + 0.72%) 1.711% 20261,3,10 | 2,675 | 2,659 |
Westlake Automobile Receivables Trust, Series 2018-3A, Class A2A, 2.98% 20221,10 | 1,646 | 1,648 |
Westlake Automobile Receivables Trust, Series 2019-3A, Class A2, 2.15% 20231,10 | 62,130 | 62,612 |
Westlake Automobile Receivables Trust, Series 2019-2A, Class A2, 2.57% 20231,10 | 4,428 | 4,461 |
Westlake Automobile Receivables Trust, Series 2018-1A, Class C, 2.92% 20231,10 | 1,997 | 2,003 |
Westlake Automobile Receivables Trust, Series 2019-2A, Class B, 2.62% 20241,10 | 1,040 | 1,054 |
Westlake Automobile Receivables Trust, Series 2018-2A, Class C, 3.50% 20241,10 | 400 | 403 |
Westlake Automobile Receivables Trust, Series 2020-2, Class C, 2.01% 20251,10 | 3,345 | 3,354 |
Westlake Automobile Receivables Trust, Series 2020-2, Class D, 2.76% 20261,10 | 5,225 | 5,252 |
World Financial Network Credit Card Master Note Trust, Series 2019-C, Class A, 2.21% 202610 | 27,000 | 27,563 |
| | 1,414,767 |
Municipals 1.83% Illinois 0.79% | | |
City of Chicago, Board of Education, Unlimited Tax G.O. Bonds (Dedicated Rev.), Series 2009-E, 6.138% 2039 | 56,485 | 57,721 |
City of Chicago, Board of Education, Unlimited Tax G.O. Bonds (Dedicated Rev.), Series 2010-C, 6.319% 2029 | 14,400 | 14,954 |
City of Chicago, Board of Education, Unlimited Tax G.O. Bonds (Dedicated Rev.), Series 2010-D, 6.519% 2040 | 5,770 | 5,930 |
City of Chicago, Board of Education, Unlimited Tax G.O. Bonds (Dedicated Rev.), Series 2011-A, 5.50% 2039 | 355 | 361 |
City of Chicago, Board of Education, Unlimited Tax G.O. Bonds (Dedicated Rev.), Series 2015-C, 5.25% 2039 | 1,035 | 1,075 |
City of Chicago, Board of Education, Unlimited Tax G.O. Bonds (Dedicated Rev.), Series 2017-A, 7.00% 20461 | 7,760 | 9,318 |
City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2017-C, 5.00% 2026 | 960 | 1,041 |
City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2017-C, 5.00% 2030 | 1,915 | 2,080 |
City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2017-C, 5.00% 2034 | 425 | 454 |
City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2017-D, 5.00% 2031 | 850 | 919 |
City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2017-G, 5.00% 2044 | 660 | 692 |
City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2017-H, 5.00% 2036 | 850 | 902 |
City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2017-H, 5.00% 2046 | 2,415 | 2,530 |
City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2018-A, Assured Guaranty Municipal insured, 5.00% 2026 | 640 | 694 |
City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2018-A, Assured Guaranty Municipal insured, 5.00% 2028 | 745 | 877 |
City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2018-A, Assured Guaranty Municipal insured, 5.00% 2029 | 370 | 433 |
City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2018-A, Assured Guaranty Municipal insured, 5.00% 2029 | 215 | 236 |
City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2018-A, Assured Guaranty Municipal insured, 5.00% 2030 | 215 | 250 |
City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2018-A, Assured Guaranty Municipal insured, 5.00% 2030 | 215 | 236 |
City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2018-A, Assured Guaranty Municipal insured, 5.00% 2031 | 425 | 492 |
The Bond Fund of America — Page 48 of 58
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Bonds, notes & other debt instruments (continued) Municipals (continued) Illinois (continued) | Principal amount (000) | Value (000) |
City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2018-A, Assured Guaranty Municipal insured, 5.00% 2032 | $425 | $489 |
City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2018-A, Assured Guaranty Municipal insured, 5.00% 2033 | 215 | 246 |
City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2018-A, Assured Guaranty Municipal insured, 5.00% 2034 | 240 | 258 |
City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2018-C, Assured Guaranty Municipal insured, 5.00% 2028 | 950 | 1,119 |
City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2018-C, Assured Guaranty Municipal insured, 5.00% 2029 | 640 | 750 |
City of Chicago, School Reform Board of Trustees of the Board of Education, Unlimited Tax G.O. Bonds (Dedicated Tax Rev.), Capital Appreciation Bonds, Series 1998-B-1, National insured, 0% 2031 | 425 | 284 |
City of Chicago, School Reform Board of Trustees of the Board of Education, Unlimited Tax G.O. Bonds (Dedicated Tax Rev.), Series 2011-A, 5.00% 2041 | 575 | 580 |
City of Chicago, School Reform Board of Trustees of the Board of Education, Unlimited Tax G.O. Bonds (Dedicated Tax Rev.), Series 2012-A, 5.00% 2042 | 1,630 | 1,654 |
G.O. Bonds, Pension Funding, Series 2003, 4.95% 2023 | 38,692 | 39,100 |
G.O. Bonds, Pension Funding, Series 2003, 5.10% 2033 | 162,050 | 164,631 |
G.O. Bonds, Pension Funding, Series 2003, Assured Guaranty Municipal insured, 5.10% 2033 | 12,860 | 14,488 |
G.O. Bonds, Series 2012, 5.00% 2024 | 5,000 | 5,151 |
G.O. Bonds, Series 2013-B, 4.11% 2022 | 2,280 | 2,259 |
G.O. Bonds, Series 2013-B, 4.31% 2023 | 7,325 | 7,253 |
G.O. Bonds, Series 2013-B, 4.91% 2027 | 3,250 | 3,239 |
G.O. Bonds, Series 2017-A, 5.00% 2025 | 2,500 | 2,710 |
G.O. Bonds, Series 2019-A, 5.00% 2024 | 6,500 | 6,975 |
G.O. Bonds, Series 2019-A, 5.70% 2031 | 7,530 | 8,116 |
G.O. Bonds, Series 2020, 5.50% 2030 | 6,000 | 6,851 |
G.O. Bonds, Taxable Build America Bonds, Series 2010-1, 6.63% 2035 | 7,745 | 8,551 |
G.O. Bonds, Taxable Build America Bonds, Series 2010-2, 5.85% 2022 | 3,155 | 3,250 |
G.O. Bonds, Taxable Build America Bonds, Series 2010-2, 5.95% 2023 | 6,495 | 6,802 |
G.O. Bonds, Taxable Build America Bonds, Series 2010-2, 6.05% 2024 | 1,905 | 2,026 |
G.O. Bonds, Taxable Build America Bonds, Series 2010-2, 6.15% 2025 | 6,205 | 6,671 |
G.O. Bonds, Taxable Build America Bonds, Series 2010-3, 5.827% 2021 | 2,065 | 2,086 |
G.O. Bonds, Taxable Build America Bonds, Series 2010-5, 6.20% 2021 | 4,436 | 4,475 |
G.O. Rev. Ref. Bonds, Series 2019-B, 5.00% 2025 | 11,000 | 11,900 |
Housing Dev. Auth., Multi Family Housing Rev. Notes (Marshall Field Garden Apartment Homes), Series 2015, (SIFMA Municipal Swap Index + 1.00%) 1.13% 2050 (put 2025)3 | 6,275 | 6,286 |
Housing Dev. Auth., Rev. Bonds, Series 2016-A, 4.00% 2046 | 985 | 1,054 |
Taxable G.O. Bonds, Series 2012-B, 4.85% 2022 | 2,305 | 2,283 |
Toll Highway Auth., Toll Highway Rev. Bonds, Series 2014-C, 5.00% 2038 | 12,865 | 14,609 |
Toll Highway Auth., Toll Highway Rev. Bonds, Series 2019-A, 5.00% 2044 | 22,000 | 26,710 |
| | 464,051 |
New York 0.57% | | |
Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2019-A, 5.00% 2042 | 1,860 | 2,322 |
Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2019-D, 4.00% 2038 | 2,500 | 2,936 |
Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2019-D, 4.00% 2047 | 16,080 | 18,491 |
Metropolitan Transportation Auth., Transportation Rev. Green Bonds, Series 2020-C-1, 4.75% 2045 | 32,900 | 36,538 |
Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 52, AMT, 3.50% 2030 | 1,545 | 1,615 |
New York City G.O. Bonds, Fiscal 2020, Series 2020-B-1, 4.00% 2040 | 5,000 | 5,757 |
New York City G.O. Bonds, Fiscal 2020, Series 2020-D-1, 4.00% 2050 | 59,475 | 67,712 |
New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Fiscal 2020, Series 2020-EE, 4.00% 2042 | 32,240 | 38,224 |
The Bond Fund of America — Page 49 of 58
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Bonds, notes & other debt instruments (continued) Municipals (continued) New York (continued) | Principal amount (000) | Value (000) |
New York City Municipal Water Fin. Auth., Water and Sewer System Second General Resolution Rev. Bonds, Fiscal 2020, Series 2020-GG-1, 4.00% 2050 | $6,000 | $7,024 |
New York City Transitional Fin. Auth., Building Aid Rev. Bonds, Fiscal 2019, Series 2019-S-1, 5.00% 2043 | 10,000 | 12,217 |
New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2017, Series 2017-F-1, 4.00% 2037 | 9,650 | 10,893 |
New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2020, Series 2020-C-1, 4.00% 2039 | 3,500 | 4,128 |
New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2020, Series 2020-C-1, 4.00% 2045 | 10,215 | 11,839 |
Power Auth., Rev. Bonds, Series 2020-A, 4.00% 2055 | 45,340 | 52,534 |
Power Auth., Rev. Bonds, Series 2020-A, 4.00% 2060 | 17,195 | 19,857 |
Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2019-A, 5.00% 2040 | 10,000 | 12,420 |
Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-A, 4.00% 2045 | 6,760 | 7,839 |
Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-A, 4.00% 2049 | 18,240 | 21,135 |
Urban Dev. Corp., State Sales Tax Rev. Bonds, Series 2019-A, 5.00% 2038 | 2,000 | 2,544 |
| | 336,025 |
Ohio 0.16% | | |
County of Hamilton, Hospital Facs. Rev. Bonds (UC Health), Series 2020, 5.00% 2050 | 16,030 | 18,852 |
Turnpike and Infrastructure Commission, Turnpike Rev. Ref. Bonds (Infrastructure Projects), Series 2020-A, 3.216% 2048 | 4,315 | 4,475 |
Water Dev. Auth., Water Pollution Control Loan Fund Rev. Bonds, Series 2020-A, 5.00% 2036 | 15,000 | 20,037 |
Water Dev. Auth., Water Pollution Control Loan Fund Rev. Bonds, Series 2020-A, 5.00% 2037 | 8,000 | 10,650 |
Water Dev. Auth., Water Pollution Control Loan Fund Rev. Bonds, Series 2020-A, 5.00% 2038 | 10,000 | 13,270 |
Water Dev. Auth., Water Pollution Control Loan Fund Rev. Bonds, Series 2020-A, 5.00% 2039 | 7,500 | 9,924 |
Water Dev. Auth., Water Pollution Control Loan Fund Rev. Bonds, Series 2020-A, 5.00% 2050 | 15,000 | 19,409 |
| | 96,617 |
Texas 0.09% | | |
Grand Parkway Transportation Corp., Grand Parkway System Toll Rev. Ref. Bonds, Series 2020-B, 3.236% 2052 | 11,415 | 11,914 |
Lubbock Independent School Dist., Unlimited Tax School Building Bonds, Series 2020, 4.00% 2045 | 1,000 | 1,197 |
Lubbock Independent School Dist., Unlimited Tax School Building Bonds, Series 2020, 4.00% 2050 | 4,000 | 4,745 |
Northwest Independent School Dist., Unlimited Tax School Building and Rev. Ref. Bonds, Series 2020, 4.00% 2045 | 9,000 | 10,821 |
SA Energy Acquisition Public Fac. Corp., Gas Supply Rev. Bonds, Series 2007, 5.50% 2023 | 6,000 | 6,685 |
Water Dev. Board, State Revolving Fund, Rev. Bonds, Series 2020, 4.00% 2035 | 5,400 | 6,717 |
Water Dev. Board, State Revolving Fund, Rev. Bonds, Series 2020, 4.00% 2036 | 5,180 | 6,408 |
Water Dev. Board, State Revolving Fund, Rev. Bonds, Series 2020, 4.00% 2037 | 2,750 | 3,387 |
Water Dev. Board, State Revolving Fund, Rev. Bonds, Series 2020, 4.00% 2038 | 3,000 | 3,679 |
| | 55,553 |
California 0.04% | | |
Dept. of Veterans Affairs, Veterans G.O. Rev. Ref. Bonds, Series 2015-CM, AMT, 2.45% 2031 | 555 | 565 |
Los Angeles Unified School Dist., G.O. Dedicated Unlimited Ad Valorem Property Tax Bonds, Series 2020-RYQ, 4.00% 2044 | 20,000 | 23,442 |
| | 24,007 |
Connecticut 0.03% | | |
Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2019-D-1, 4.00% 2049 | 12,945 | 14,569 |
Housing Fin. Auth., Housing Mortgage Fin. Program Rev. Ref. Bonds, Series 2015-C-1, 3.50% 2045 | 2,805 | 2,940 |
| | 17,509 |
The Bond Fund of America — Page 50 of 58
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Bonds, notes & other debt instruments (continued) Municipals (continued) Michigan 0.03% | Principal amount (000) | Value (000) |
Fin. Auth., Local Government Loan Program Rev. Bonds (Detroit Fin. Recovery Income Tax Local Project Bonds), Series 2014-F-2, 4.60% 2022 | $3,860 | $3,917 |
Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2016-B, 3.50% 2047 | 11,950 | 12,711 |
| | 16,628 |
Florida 0.02% | | |
County of Hillsborough, Aviation Auth., Tampa International Airport Rev. Bonds, Series 2018-F, 5.00% 2043 | 7,500 | 9,046 |
Arizona 0.01% | | |
Board of Regents of Arizona State University System, Rev. Bonds, Series 2020-A, 4.00% 2038 | 1,000 | 1,199 |
Board of Regents of Arizona State University System, Rev. Bonds, Series 2020-A, 5.00% 2030 | 500 | 686 |
Board of Regents of Arizona State University System, Rev. Bonds, Series 2020-A, 5.00% 2031 | 675 | 918 |
Board of Regents of Arizona State University System, Rev. Bonds, Series 2020-A, 5.00% 2032 | 700 | 944 |
Board of Regents of Arizona State University System, Rev. Bonds, Series 2020-A, 5.00% 2037 | 1,500 | 1,977 |
Board of Regents of Arizona State University System, Rev. Bonds, Series 2020-A, 5.00% 2039 | 1,750 | 2,293 |
| | 8,017 |
Tennessee 0.01% | | |
Housing Dev. Agcy., Homeownership Program Bonds, Series 2015-A, 3.50% 2045 | 1,030 | 1,096 |
Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2013-2-A, AMT, 4.00% 2043 | 580 | 608 |
Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2015-1-A, AMT, 4.00% 2045 | 2,565 | 2,720 |
Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2015-2-A, AMT, 4.00% 2046 | 3,235 | 3,446 |
| | 7,870 |
Massachusetts 0.01% | | |
Dev. Fin. Agcy., Rev. Bonds (Harvard University Issue), Series 2020-A, 5.00% 2029 | 5,000 | 6,894 |
Housing Fin. Agcy., Single Family Housing Rev. Bonds, Series 178, 3.50% 2042 | 640 | 674 |
| | 7,568 |
Minnesota 0.01% | | |
Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2014-C, AMT, 4.00% 2045 | 3,980 | 4,237 |
Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2015-A, AMT, 4.00% 2041 | 505 | 532 |
Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2015-E, AMT, 3.50% 2046 | 2,510 | 2,640 |
| | 7,409 |
New Jersey 0.01% | | |
Econ. Dev. Auth., State Pension Funding Bonds, Series 1997-A, National insured, 7.425% 2029 | 4,400 | 5,323 |
Puerto Rico 0.01% | | |
Aqueduct and Sewer Auth., Rev. Bonds, Series 2012-B, 5.35% 2027 | 4,805 | 4,523 |
South Carolina 0.01% | | |
Housing Fin. and Dev. Auth., Mortgage Rev. Ref. Bonds, Series 2016-A, 4.00% 2036 | 745 | 805 |
Housing Fin. Auth., Mortgage Rev. Ref. Bonds, Series 2014, AMT, 4.00% 2041 | 3,185 | 3,363 |
| | 4,168 |
Wisconsin 0.01% | | |
Housing and Econ. Dev. Auth., Home Ownership Rev. Bonds, Series 2015-A, AMT, 4.00% 2045 | 1,595 | 1,677 |
Housing and Econ. Dev. Auth., Home Ownership Rev. Bonds, Series 2016-A, AMT, 3.50% 2046 | 2,230 | 2,336 |
| | 4,013 |
The Bond Fund of America — Page 51 of 58
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Bonds, notes & other debt instruments (continued) Municipals (continued) Nebraska 0.01% | Principal amount (000) | Value (000) |
Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2015-C, 3.50% 2045 | $875 | $912 |
Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2016-A, 3.50% 2046 | 2,840 | 3,002 |
| | 3,914 |
Maine 0.01% | | |
Housing Auth., Mortgage Purchase Rev. Ref. Bonds, Series 2015-E-1, AMT, 3.50% 2035 | 3,060 | 3,200 |
Maryland 0.00% | | |
Community Dev. Administration, Dept. of Housing and Community Dev., Residential Rev. Bonds, Series 2014-B, AMT, 3.25% 2044 | 2,320 | 2,393 |
Kentucky 0.00% | | |
Housing Corp., Housing Rev. Bonds, Series 2013-D, 3.50% 2033 | 1,120 | 1,178 |
Missouri 0.00% | | |
Housing Dev. Commission, Single Family Mortgage Rev. Bonds (Special Homeownership Loan Program), Series 2015-A, 3.75% 2038 | 950 | 1,007 |
Iowa 0.00% | | |
Fin. Auth., Single Family Mortgage Bonds, Series 2016-A, 4.00% 2046 | 935 | 993 |
Utah 0.00% | | |
Housing Corp., Single Family Mortgage Bonds, Class III, Series 2015-D-2, 4.00% 2045 | 835 | 897 |
Wyoming 0.00% | | |
Community Dev. Auth., Housing Rev. Bonds, Series 2015-6, 4.00% 2045 | 620 | 650 |
Total municipals | | 1,082,559 |
Bonds & notes of governments & government agencies outside the U.S. 1.67% | | |
Abu Dhabi (Emirate of) 2.50% 20251 | 59,000 | 62,293 |
Abu Dhabi (Emirate of) 3.125% 2026 | 10,000 | 10,875 |
Abu Dhabi (Emirate of) 2.50% 2029 | 1,800 | 1,891 |
Abu Dhabi (Emirate of) 3.125% 20301 | 47,440 | 52,389 |
Abu Dhabi (Emirate of) 3.875% 20501 | 32,340 | 38,347 |
Angola (Republic of) 8.00% 20291 | 5,000 | 4,135 |
Argentine Republic 6.875% 20218 | 3,075 | 1,298 |
Argentine Republic 4.625% 2023 | 700 | 296 |
Argentine Republic 7.50% 20268 | 6,325 | 2,591 |
Argentine Republic 6.875% 2027 | 2,200 | 893 |
Argentine Republic 8.28% 20337,8 | 4,984 | 2,283 |
Argentine Republic 0% 2035 | 25,700 | 389 |
Benin (Republic of) 5.75% 2026 | €1,200 | 1,260 |
Brazil (Federative Republic of) 3.875% 2030 | $5,860 | 5,661 |
Cameroon (Republic of) 9.50% 2025 | 1,500 | 1,511 |
Colombia (Republic of) 4.125% 2051 | 4,140 | 4,169 |
Costa Rica (Republic of) 7.00% 2044 | 2,178 | 1,799 |
Cote d’Ivoire (Republic of) 6.375% 20281 | 7,275 | 7,459 |
Cote d’Ivoire (Republic of) 5.25% 2030 | €950 | 997 |
The Bond Fund of America — Page 52 of 58
unaudited
Bonds, notes & other debt instruments (continued) Bonds & notes of governments & government agencies outside the U.S. (continued) | Principal amount (000) | Value (000) |
Dominican Republic 7.50% 2021 | $317 | $327 |
Dominican Republic 5.50% 20251 | 10,380 | 10,537 |
Dominican Republic 5.50% 2025 | 1,640 | 1,665 |
Dominican Republic 6.875% 20261 | 4,300 | 4,522 |
Dominican Republic 6.40% 20491 | 1,648 | 1,516 |
Egypt (Arab Republic of) 4.55% 20231 | 5,100 | 5,063 |
Egypt (Arab Republic of) 5.577% 20231 | 1,690 | 1,732 |
Egypt (Arab Republic of) 4.75% 2026 | €3,000 | 3,210 |
Egypt (Arab Republic of) 6.588% 20281 | $1,610 | 1,594 |
Egypt (Arab Republic of) 5.625% 2030 | €1,060 | 1,079 |
Egypt (Arab Republic of) 7.053% 20321 | $5,100 | 4,858 |
Egypt (Arab Republic of) 8.50% 20471 | 2,245 | 2,203 |
Export-Import Bank of India 3.375% 2026 | 7,000 | 7,235 |
Export-Import Bank of India 3.875% 2028 | 3,000 | 3,121 |
Export-Import Bank of India 3.25% 2030 | 9,100 | 9,022 |
Gabonese Republic 6.375% 2024 | 772 | 736 |
Gabonese Republic 6.95% 2025 | 700 | 660 |
Gabonese Republic 6.625% 20311 | 600 | 538 |
Guatemala (Republic of) 4.50% 2026 | 1,700 | 1,773 |
Guatemala (Republic of) 4.375% 2027 | 3,975 | 4,128 |
Honduras (Republic of) 8.75% 2020 | 15,197 | 15,510 |
Honduras (Republic of) 7.50% 2024 | 3,330 | 3,610 |
Honduras (Republic of) 6.25% 20271 | 1,400 | 1,497 |
Honduras (Republic of) 6.25% 2027 | 968 | 1,035 |
Indonesia (Republic of) 3.75% 2022 | 4,255 | 4,427 |
Indonesia (Republic of) 3.375% 2023 | 19,350 | 20,180 |
Indonesia (Republic of) 3.85% 2030 | 750 | 836 |
Indonesia (Republic of) 4.20% 2050 | 1,785 | 1,999 |
Iraq (Republic of) 5.80% 2028 | 5,150 | 4,654 |
Israel (State of) 2.50% 2030 | 1,090 | 1,180 |
Israel (State of) 2.75% 2030 | 4,500 | 4,974 |
Israel (State of) 3.375% 2050 | 1,630 | 1,792 |
Israel (State of) 3.875% 2050 | 15,100 | 17,990 |
Japan Bank for International Cooperation 2.125% 2020 | 21,400 | 21,420 |
Japan Bank for International Cooperation 3.125% 2021 | 76,664 | 78,841 |
Jordan (Hashemite Kingdom of) 6.125% 20261 | 2,890 | 3,053 |
Jordan (Hashemite Kingdom of) 5.75% 20271 | 615 | 640 |
Kazakhstan (Republic of) 6.50% 20451 | 2,250 | 3,341 |
Kenya (Republic of) 6.875% 20241 | 6,425 | 6,545 |
Kenya (Republic of) 8.00% 20321 | 800 | 792 |
Kenya (Republic of) 8.25% 20481 | 330 | 326 |
Kuwait (State of) 2.75% 20221 | 2,150 | 2,221 |
Morocco (Kingdom of) 4.25% 2022 | 5,400 | 5,701 |
Morocco (Kingdom of) 5.50% 2042 | 8,700 | 10,657 |
Pakistan (Islamic Republic of) 5.50% 20211 | 2,335 | 2,287 |
Pakistan (Islamic Republic of) 8.25% 2024 | 2,220 | 2,322 |
Pakistan (Islamic Republic of) 6.875% 2027 | 1,200 | 1,186 |
Pakistan (Islamic Republic of) 6.875% 20271 | 1,100 | 1,088 |
Panama (Republic of) 3.75% 20261 | 16,585 | 17,381 |
Panama (Republic of) 3.875% 2028 | 10,000 | 11,248 |
Panama (Republic of) 3.16% 2030 | 3,585 | 3,866 |
Panama (Republic of) 4.50% 2047 | 1,090 | 1,340 |
Panama (Republic of) 4.50% 2050 | 6,700 | 8,244 |
Panama (Republic of) 4.50% 2056 | 6,495 | 7,995 |
Paraguay (Republic of) 4.625% 2023 | 1,500 | 1,579 |
The Bond Fund of America — Page 53 of 58
unaudited
Bonds, notes & other debt instruments (continued) Bonds & notes of governments & government agencies outside the U.S. (continued) | Principal amount (000) | Value (000) |
Paraguay (Republic of) 5.00% 2026 | $4,485 | $4,974 |
Paraguay (Republic of) 5.00% 20261 | 1,575 | 1,747 |
Paraguay (Republic of) 4.70% 20271 | 850 | 932 |
Paraguay (Republic of) 4.95% 20311 | 5,000 | 5,594 |
Paraguay (Republic of) 5.60% 20481 | 1,980 | 2,320 |
Peru (Republic of) 2.392% 2026 | 11,910 | 12,392 |
Peru (Republic of) 2.783% 2031 | 21,340 | 22,802 |
PETRONAS Capital Ltd. 3.50% 20301 | 4,450 | 4,955 |
PETRONAS Capital Ltd. 4.55% 20501 | 5,695 | 7,250 |
Philippines (Republic of) 2.457% 2030 | 15,000 | 15,764 |
Philippines (Republic of) 6.375% 2034 | 7,000 | 10,117 |
Philippines (Republic of) 5.00% 2037 | 3,000 | 3,877 |
Philippines (Republic of) 3.70% 2042 | 3,500 | 4,017 |
Philippines (Republic of) 2.95% 2045 | 15,091 | 15,728 |
Poland (Republic of) 3.25% 2026 | 6,600 | 7,418 |
Portuguese Republic 5.125% 2024 | 1,725 | 2,010 |
PT Indonesia Asahan Aluminium Tbk 5.23% 20211 | 3,719 | 3,886 |
PT Indonesia Asahan Aluminium Tbk 5.71% 20231 | 2,050 | 2,229 |
PT Indonesia Asahan Aluminium Tbk 4.75% 20251 | 3,310 | 3,545 |
PT Indonesia Asahan Aluminium Tbk 6.53% 20281 | 685 | 813 |
PT Indonesia Asahan Aluminium Tbk 5.45% 20301 | 12,860 | 14,374 |
PT Indonesia Asahan Aluminium Tbk 6.757% 20481 | 655 | 802 |
PT Indonesia Asahan Aluminium Tbk 5.80% 20501 | 2,690 | 3,020 |
Qatar (State of) 3.875% 20231 | 10,830 | 11,641 |
Qatar (State of) 3.40% 20251 | 40,000 | 43,600 |
Qatar (State of) 4.50% 20281 | 23,115 | 27,302 |
Qatar (State of) 3.75% 20301 | 34,570 | 39,451 |
Qatar (State of) 4.40% 20501 | 29,560 | 36,660 |
Romania 2.75% 2026 | €5,500 | 6,444 |
Romania 3.624% 2030 | 3,592 | 4,365 |
Romania 2.00% 2032 | 1,400 | 1,473 |
Romania 3.50% 2034 | 6,485 | 7,640 |
Romania 3.375% 2038 | 2,200 | 2,525 |
Romania 4.625% 2049 | 2,900 | 3,740 |
Russian Federation 4.375% 2029 | $19,000 | 21,636 |
Russian Federation 5.10% 2035 | 1,600 | 1,980 |
Russian Federation 5.10% 20351 | 800 | 990 |
Russian Federation 5.25% 2047 | 10,000 | 13,225 |
Saudi Arabia (Kingdom of) 2.375% 20211 | 750 | 762 |
Saudi Arabia (Kingdom of) 3.25% 20261 | 4,170 | 4,514 |
Saudi Arabia (Kingdom of) 3.625% 20281 | 3,110 | 3,425 |
Senegal (Republic of) 4.75% 2028 | €4,000 | 4,357 |
Tunisia (Republic of) 5.625% 2024 | 3,000 | 3,110 |
Turkey (Republic of) 4.25% 2026 | $9,300 | 8,505 |
Turkey (Republic of) 4.875% 2026 | 2,380 | 2,215 |
Ukraine 7.75% 2021 | 7,900 | 8,165 |
Ukraine 6.75% 2026 | €3,905 | 4,472 |
Ukraine 7.75% 2026 | $3,500 | 3,658 |
United Mexican States 3.25% 2030 | 5,845 | 5,798 |
United Mexican States 4.75% 2032 | 5,920 | 6,542 |
United Mexican States 5.00% 2051 | 10,990 | 11,880 |
United Mexican States 5.75% 2110 | 4,700 | 5,225 |
| | 983,678 |
The Bond Fund of America — Page 54 of 58
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Bonds, notes & other debt instruments (continued) Federal agency bonds & notes 0.21% | Principal amount (000) | Value (000) |
Fannie Mae 0.625% 2025 | $124,000 | $125,014 |
Total bonds, notes & other debt instruments (cost: $53,042,227,000) | | 55,615,621 |
Preferred securities 0.00% Financials 0.00% | Shares | |
CoBank, ACB, Class E, noncumulative, preferred shares1 | 6,250 | 3,750 |
Total preferred securities (cost: $5,820,000) | | 3,750 |
Common stocks 0.03% Health care 0.03% | | |
Rotech Healthcare Inc.4,5,14,15 | 342,069 | 16,420 |
Total common stocks (cost: $12,646,000) | | 16,420 |
Short-term securities 20.95% Money market investments 20.95% | | |
Capital Group Central Cash Fund 0.18%16,17 | 123,779,995 | 12,379,237 |
Total short-term securities (cost: $12,380,418,000) | | 12,379,237 |
Total investment securities 115.10% (cost: $65,441,111,000) | | 68,015,028 |
Other assets less liabilities (15.10)% | | (8,923,487) |
Net assets 100.00% | | $59,091,541 |
Futures contracts
Contracts | Type | Number of contracts | Expiration | Notional amount18 (000) | Value at 6/30/202019 (000) | Unrealized (depreciation) appreciation at 6/30/2020 (000) |
90 Day Euro Dollar Futures | Short | 12,358 | September 2020 | $(3,089,500) | $(3,081,313) | $(972) |
90 Day Euro Dollar Futures | Short | 5,834 | March 2021 | (1,458,500) | (1,455,583) | (266) |
90 Day Euro Dollar Futures | Short | 18,536 | March 2022 | (4,634,000) | (4,625,659) | (2,947) |
2 Year U.S. Treasury Note Futures | Long | 6,640 | October 2020 | 1,328,000 | 1,466,299 | 248 |
5 Year U.S. Treasury Note Futures | Long | 53,078 | October 2020 | 5,307,800 | 6,674,144 | 17,895 |
10 Year Euro-Bund Futures | Short | 119 | September 2020 | €(11,900) | (23,600) | (253) |
10 Year U.S. Treasury Note Futures | Short | 3,042 | September 2020 | $(304,200) | (423,361) | (2,316) |
10 Year Ultra U.S. Treasury Note Futures | Short | 27,805 | September 2020 | (2,780,500) | (4,378,853) | (25,385) |
20 Year U.S. Treasury Bond Futures | Long | 11,706 | September 2020 | 1,170,600 | 2,090,253 | 12,690 |
30 Year Ultra U.S. Treasury Bond Futures | Long | 7,094 | September 2020 | 709,400 | 1,547,600 | 12,288 |
| | | | | | $10,982 |
The Bond Fund of America — Page 55 of 58
unaudited
Forward currency contracts
Contract amount | Counterparty | Settlement date | Unrealized appreciation (depreciation) at 6/30/2020 (000) |
Purchases (000) | Sales (000) |
USD13,446 | EUR11,800 | JPMorgan Chase | 7/6/2020 | $187 |
EUR2,910 | USD3,270 | Barclays Bank PLC | 7/6/2020 | —9 |
USD4,486 | EUR3,960 | HSBC Bank | 7/9/2020 | 37 |
USD7,037 | EUR6,221 | Citibank | 7/13/2020 | 46 |
EUR270 | USD305 | JPMorgan Chase | 7/13/2020 | (2) |
USD20,052 | EUR17,646 | Barclays Bank PLC | 7/14/2020 | 221 |
USD269 | MXN6,021 | Goldman Sachs | 7/16/2020 | 8 |
USD614 | GBP490 | Citibank | 7/16/2020 | 6 |
USD1,820 | MXN41,200 | JPMorgan Chase | 7/17/2020 | 31 |
EUR700 | USD790 | JPMorgan Chase | 7/17/2020 | (4) |
EUR205 | USD231 | Bank of New York Mellon | 7/20/2020 | (1) |
USD5,225 | EUR4,656 | Goldman Sachs | 7/22/2020 | (8) |
EUR1,000 | USD1,122 | Morgan Stanley | 7/23/2020 | 2 |
KRW86,578,943 | USD72,755 | JPMorgan Chase | 7/24/2020 | (772) |
KRW312,235,000 | USD257,635 | Morgan Stanley | 7/27/2020 | 1,964 |
| | | | $1,715 |
Swap contracts
Interest rate swaps
Receive | Pay | Expiration date | Notional (000) | Value at 6/30/2020 (000) | Upfront premium paid (000) | Unrealized (depreciation) appreciation at 6/30/2020 (000) |
U.S. EFFR | 0.11% | 5/18/2024 | $452,700 | $(10) | $— | $(10) |
U.S. EFFR | 0.1275% | 6/25/2025 | 194,300 | (385) | — | (385) |
U.S. EFFR | 0.0975% | 6/30/2025 | 105,483 | (45) | — | (45) |
U.S. EFFR | 0.106% | 6/30/2025 | 85,817 | (73) | — | (73) |
U.S. EFFR | 0.105% | 6/30/2025 | 194,400 | (156) | — | (156) |
U.S. EFFR | 0.093% | 7/2/2025 | 64,800 | (12) | — | (12) |
U.S. EFFR | 0.096% | 7/2/2025 | 64,700 | (21) | — | (21) |
2.432% | 3-month USD-LIBOR | 9/21/2037 | 2,000 | 527 | — | 527 |
2.987% | 3-month USD-LIBOR | 2/7/2038 | 37,000 | 13,377 | — | 13,377 |
3.193% | 3-month USD-LIBOR | 5/21/2038 | 45,000 | 18,081 | — | 18,081 |
3.062% | 3-month USD-LIBOR | 7/31/2038 | 23,500 | 8,988 | — | 8,988 |
2.835% | 3-month USD-LIBOR | 1/10/2039 | 21,500 | 7,519 | — | 7,519 |
2.874% | 3-month USD-LIBOR | 2/6/2039 | 13,900 | 4,974 | — | 4,974 |
2.7055% | 3-month USD-LIBOR | 4/17/2039 | 41,900 | 13,847 | — | 13,847 |
3-month USD-LIBOR | 2.6785% | 9/4/2045 | 45,000 | (18,711) | — | (18,711) |
3-month USD-LIBOR | 2.525% | 10/20/2045 | 28,000 | (10,668) | — | (10,668) |
3-month USD-LIBOR | 2.516% | 10/20/2045 | 42,000 | (15,912) | — | (15,912) |
3-month USD-LIBOR | 2.5315% | 10/26/2045 | 40,000 | (15,307) | — | (15,307) |
3-month USD-LIBOR | 2.57082% | 11/6/2045 | 123,000 | (48,290) | — | (48,290) |
3-month USD-LIBOR | 2.57067% | 11/9/2045 | 13,200 | (5,184) | — | (5,184) |
3-month USD-LIBOR | 2.6485% | 11/16/2045 | 13,050 | (5,369) | — | (5,369) |
3-month USD-LIBOR | 2.59125% | 12/16/2045 | 45,000 | (17,962) | — | (17,962) |
3-month USD-LIBOR | 2.4095% | 1/14/2046 | 15,000 | (5,349) | — | (5,349) |
2.5095% | 3-month USD-LIBOR | 7/24/2047 | 3,000 | 1,198 | — | 1,198 |
2.9075% | 3-month USD-LIBOR | 4/16/2048 | 7,000 | 3,575 | — | 3,575 |
The Bond Fund of America — Page 56 of 58
unaudited
Swap contracts (continued)
Interest rate swaps (continued)
Receive | Pay | Expiration date | Notional (000) | Value at 6/30/2020 (000) | Upfront premium paid (000) | Unrealized (depreciation) appreciation at 6/30/2020 (000) |
3-month USD-LIBOR | 2.381% | 5/31/2049 | $14,500 | $(5,638) | $— | $(5,638) |
3-month USD-LIBOR | 1.934% | 12/12/2049 | 32,700 | (8,976) | — | (8,976) |
3-month USD-LIBOR | 1.935% | 12/17/2049 | 41,790 | (11,487) | — | (11,487) |
3-month USD-LIBOR | 2.007% | 12/19/2049 | 26,200 | (7,713) | — | (7,713) |
3-month USD-LIBOR | 2.068% | 12/24/2049 | 54,390 | (16,915) | — | (16,915) |
3-month USD-LIBOR | 2.045% | 12/27/2049 | 33,000 | (10,061) | — | (10,061) |
3-month USD-LIBOR | 2.0375% | 1/6/2050 | 48,000 | (14,538) | — | (14,538) |
3-month USD-LIBOR | 1.961% | 1/9/2050 | 72,600 | (20,487) | — | (20,487) |
3-month USD-LIBOR | 1.678% | 2/21/2050 | 64,910 | (13,397) | — | (13,397) |
| | | | | $— | $(180,580) |
Credit default swaps
Centrally cleared credit default swaps on credit indices — buy protection
Receive | Pay/ Payment frequency | Expiration date | Notional (000) | Value at 6/30/2020 (000) | Upfront premium paid (000) | Unrealized depreciation at 6/30/2020 (000) |
CDX.NA.HY.25 | 5.00%/Quarterly | 6/20/2025 | $261,250 | $1,802 | $14,719 | $(12,917) |
1 | Acquired in a transaction exempt from registration under Rule 144A of the Securities Act of 1933. May be resold in the U.S. in transactions exempt from registration, normally to qualified institutional buyers. The total value of all such securities was $7,038,867,000, which represented 11.91% of the net assets of the fund. |
2 | Step bond; coupon rate may change at a later date. |
3 | Coupon rate may change periodically. Reference rate and spread are as of the most recent information available. Some coupon rates are determined by the issuer or agent based on current market conditions; therefore, the reference rate and spread are not available. |
4 | Valued under fair value procedures adopted by authority of the board of trustees. The total value of all such securities was $79,365,000, which represented .13% of the net assets of the fund. |
5 | Value determined using significant unobservable inputs. |
6 | Loan participations and assignments; may be subject to legal or contractual restrictions on resale. The total value of all such loans was $10,454,000, which represented .02% of the net assets of the fund. |
7 | Payment in kind; the issuer has the option of paying additional securities in lieu of cash. Most recent payment was 100% cash unless otherwise noted. |
8 | Scheduled interest and/or principal payment was not received. |
9 | Amount less than one thousand. |
10 | Principal payments may be made periodically. Therefore, the effective maturity date may be earlier than the stated maturity date. |
11 | Purchased on a TBA basis. |
12 | All or a portion of this security was pledged as collateral. The total value of pledged collateral was $267,605,000, which represented .45% of the net assets of the fund. |
13 | Index-linked bond whose principal amount moves with a government price index. |
14 | Security did not produce income during the last 12 months. |
15 | Acquired through a private placement transaction exempt from registration under the Securities Act of 1933. May be subject to legal or contractual restrictions on resale. Further details on this holding appear below. |
16 | Rate represents the seven-day yield at 6/30/2020. |
17 | Represents an affiliated company as defined under the Investment Company Act of 1940. |
18 | Notional amount is calculated based on the number of contracts and notional contract size. |
19 | Value is calculated based on the notional amount and current market price. |
Private placement security | Acquisition date | Cost (000) | Value (000) | Percent of net assets |
Rotech Healthcare Inc. | 9/26/2013 | $12,646 | $16,420 | .03% |
The Bond Fund of America — Page 57 of 58
unaudited
Key to abbreviations and symbols | |
Agcy. = Agency | G.O. = General Obligation |
AMT = Alternative Minimum Tax | GBP/£ = British pounds |
Auth. = Authority | ICE = Intercontinental Exchange, Inc. |
CLO = Collateralized Loan Obligations | KRW = South Korean won |
Dept. = Department | LIBOR = London Interbank Offered Rate |
Dev. = Development | MXN = Mexican pesos |
Dist. = District | Ref. = Refunding |
Econ. = Economic | Rev. = Revenue |
EFFR = Effective Federal Funds Rate | SIFMA = Securities Industry and Financial Markets Association |
EUR/€ = Euros | SOFR = Secured Overnight Financing Rate |
Fac. = Facility | TBA = To-be-announced |
Facs. = Facilities | USD/$ = U.S. dollars |
Fin. = Finance | |
Additional financial disclosures are included in the fund’s current shareholder report and should be read in conjunction with this report.
Investments are not FDIC-insured, nor are they deposits of or guaranteed by a bank or any other entity, so they may lose value.
Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the fund prospectus and summary prospectus, which can be obtained from your financial professional and should be read carefully before investing. You may also call American Funds Service Company (AFS) at (800) 421-4225 or visit the Capital Group website at capitalgroup.com.
All Capital Group trademarks mentioned are owned by The Capital Group Companies, Inc., an affiliated company or fund. All other company and product names mentioned are the property of their respective companies.
American Funds Distributors, Inc., member FINRA.
© 2020 Capital Group. All rights reserved.
MFGEFP2-008-0820O-S78093 | The Bond Fund of America — Page 58 of 58 |
ITEM 7 – Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies
Not applicable to this Registrant, insofar as the Registrant is not a closed-end management investment company.
ITEM 8 – Portfolio Managers of Closed-End Management Investment Companies
Not applicable to this Registrant, insofar as the Registrant is not a closed-end management investment company.
ITEM 9 – Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers
Not applicable to this Registrant, insofar as the Registrant is not a closed-end management investment company.
ITEM 10 – Submission of Matters to a Vote of Security Holders
There have been no material changes to the procedures by which shareholders may recommend nominees to the Registrant’s board of trustees since the Registrant last submitted a proxy statement to its shareholders. The procedures are as follows. The Registrant has a nominating and governance committee comprised solely of persons who are not considered ‘‘interested persons’’ of the Registrant within the meaning of the Investment Company Act of 1940, as amended. The committee periodically reviews such issues as the board’s composition, responsibilities, committees, compensation and other relevant issues, and recommends any appropriate changes to the full board of trustees. While the committee normally is able to identify from its own resources an ample number of qualified candidates, it will consider shareholder suggestions of persons to be considered as nominees to fill future vacancies on the board. Such suggestions must be sent in writing to the nominating and governance committee of the Registrant, c/o the Registrant’s Secretary, and must be accompanied by complete biographical and occupational data on the prospective nominee, along with a written consent of the prospective nominee for consideration of his or her name by the nominating and governance committee.
ITEM 11 – Controls and Procedures
(a) | The Registrant’s Principal Executive Officer and Principal Financial Officer have concluded, based on their evaluation of the Registrant’s disclosure controls and procedures (as such term is defined in Rule 30a-3 under the Investment Company Act of 1940), that such controls and procedures are adequate and reasonably designed to achieve the purposes described in paragraph (c) of such rule. |
| |
(b) | There were no changes in the Registrant’s internal controls over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) that occurred during the Registrant’s semi-annual period covered by this report that has materially affected, or is reasonably likely to materially affect, the Registrant’s internal control over financial reporting. |
ITEM 12 – Exhibits
(a)(1) | Not applicable for filing of semi-annual reports to shareholders. |
| |
(a)(2) | The certifications required by Rule 30a-2 of the Investment Company Act of 1940 and Sections 302 and 906 of the Sarbanes-Oxley Act of 2002 are attached as exhibits hereto. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| THE BOND FUND OF AMERICA |
| |
| By __/s/ Kristine M. Nishiyama____________________ |
| Kristine M. Nishiyama, Executive Vice President and Principal Executive Officer |
| |
| Date: August 31, 2020 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.
By __/s/ Kristine M. Nishiyama_________________ |
Kristine M. Nishiyama, Executive Vice President and Principal Executive Officer |
|
Date: August 31, 2020 |
By ___/s/ Brian C. Janssen __________ |
Brian C. Janssen, Treasurer and Principal Financial Officer |
|
Date: August 31, 2020 |