Bond Fund Of America N-CSR Certified annual shareholder report (management investment company)

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: December 31, 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^®   Annual report
for the year ended
December 31, 2020

Invest with a stable,
long-term approach

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 Group 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. Share 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.

See page 4 for Class A share results with relevant sales charges deducted. For other share class results, visit capitalgroup.com and americanfundsretirement.com.

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 fund’s 30-day yield for Class A shares as of January 31, 2021, calculated in accordance with the U.S. Securities and Exchange Commission (SEC) formula, was 0.64%. The fund’s 12-month distribution rate for Class A shares as of that date was 1.70%.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 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.

Contents

1	Letter to investors
4	The value of a long-term perspective
6	Investment portfolio
57	Financial statements
87	Board of trustees and other officers

Fellow investors:

The COVID-19 pandemic upended markets in 2020, spurring the first recession in more than 10 years. While equity valuations were volatile, high-quality fixed income returns were solid as bond yields fell. For the 12-month period ended December 31, The Bond Fund of America returned 10.71%.

By way of comparison, the Bloomberg Barclays U.S. Aggregate Index — a measure of the investment-grade (BBB/Baa and above) bond market — returned 7.51%. The fund’s peer group, as measured by the Lipper Core Bond Funds Average, gained 8.24%.

The fund paid dividends totaling 26 cents per share during the period. For investors, this amounted to an income return of 1.98% with dividends reinvested, or 1.96% if taken in cash. The fund also paid a capital gain in December of 44 cents.

Bond market overview

Markets have rarely seen a year with as many twists and turns as 2020. The year began with the U.S. in the late part of its economic cycle. Economic fundamentals seemed healthy, but valuations were at or near record highs. COVID-19’s impact led to a sharp, sudden shock that brought the decade-plus expansion to a grinding halt. Volatility spiked and growth plummeted in the first half of the year. With help from extraordinary monetary and fiscal stimulus, the economy began to rebound in the second half of 2020. Markets essentially experienced a full economic cycle in just one year.

Both fiscal and monetary policymakers responded aggressively to the crisis. The Federal Reserve promptly cut its fed funds rate target to its zero bound, a range from 0% to 0.25%, and began buying a variety of assets to avoid disruptions in financial markets. Other global central banks followed suit, with some pushing interest rates notably lower into negative territory. Governments also provided significant fiscal stimulus in the form of direct payments to individuals in addition to many other programs designed to help affected households and businesses.

The monetary response led to ultralow interest rates across lending markets. The benchmark 10-year Treasury yield declined to a record closing low of 0.51% in August. It ended the year at 0.92%, declining 1% from 1.92% at the beginning of 2020. Falling longer term rates were largely responsible for a massive wave of mortgage refinancing. Over the course of the year, shorter term Treasury yields fell further than longer term yields, indicating a steepening of the yield curve.

Results at a glance

For periods ended December 31, 2020, with all distributions reinvested

	Cumulative total return			Average annual total returns
	1 year			3 years			5 years			10 years			Lifetime (since 5/28/74)
The Bond Fund of America (Class A shares)		10.71	%		6.10	%		4.84	%		4.00	%		7.46	%
Bloomberg Barclays U.S. Aggregate Index*		7.51			5.34			4.44			3.84			7.39
Lipper Core Bond Funds Average†		8.24			5.37			4.59			3.90			7.26

*	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 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 Bond Fund of America 1

All major bond sectors saw positive returns amid equity volatility and falling interest rates. Rising inflation expectations paired with lower yields led the Bloomberg Barclays U.S. Treasury Inflation-Protected Securities Index¹ to gain 10.99%. High-quality credit also notched strong returns, with the Bloomberg Barclays U.S. Corporate Investment Grade Index² up 9.89%. That result came even though corporate spreads — the premium investors are paid for taking on credit risk compared to owning government securities — widened sharply early in the year as volatility mounted. As the recovery proceeded, they eventually tightened back to nearly the same level at which they began the year.

While markets largely bounced back by year-end, the economy’s health did not recover as fully. The U.S. unemployment rate peaked at 14.8% in April but remained elevated at 6.7% at year-end, nearly double the rate when 2020 began. Many parts of the U.S. saw a surge of COVID-19 infections late in the year. Some lockdowns were reintroduced, which could further slow the pace of recovery. However, the rollout of vaccines should help reduce the virus’s impact over time.

Inside the portfolio

Although this year presented unique challenges for financial markets, The Bond Fund of America’s strategy is centered on providing stability amid the kind of volatility that occurred. Through discipline and deep research, the fund outpaced both its benchmark and peers. Managers continued to focus investments on high-conviction interest rate and credit strategies, consisting largely of high-quality assets such as U.S. Treasuries and investment-grade bonds. It also invested in other sectors to a lesser extent, such as high-yield corporate bonds and emerging markets debt.

Managers were defensively positioned coming into the year. They held the view that the U.S. economy was in the late part of its cycle and most bonds were priced at or near all-time rich levels. In early February, the potential impact of COVID-19 became clearer. At that time, the portfolio moved to a fully defensive position. Managers sold credit and added exposure to Treasury bonds, anticipating interest rates moving lower if the Fed was forced to cut rates.

This is exactly what happened, although in a much more rapid and breathtaking way than we could have predicted. And then, as markets moved sharply, our multi-manager system really shined. This crisis was unique not only because of its incredible speed but also because it rolled across the market at different times. It first affected the Treasury market, then the mortgage market, and then finally credit and everything else. Having multiple managers, instead of a single portfolio manager, gave us the ability to focus on each part of the market as events unfolded. This made our fund quite nimble and allowed us to adjust in real time.

Once interest rates fell as the Fed responded to the crisis, managers cut exposure to interest rates. As mortgage bonds cheapened, the fund went from less exposure than its benchmark index to greater exposure. Specifically, the portfolio held relatively fewer bonds tied to pools of mortgages with higher interest rate coupons, which managers

1	Bloomberg Barclays U.S. Treasury Inflation Protected Securities (TIPS) Index consists of investment-grade, fixed-rate, publicly placed, dollar-denominated and non-convertible inflation-protected securities issued by the U.S. Treasury that have at least one year remaining to maturity, and have at least $250 million par amount outstanding.
2	Bloomberg Barclays U.S. Corporate Investment Grade Index represents the universe of investment grade, publicly issued U.S. corporate and specified foreign debentures and secured notes that meet the specified maturity, liquidity, and quality requirements.

2 The Bond Fund of America

saw as likely to suffer as refinancing picked up. Managers instead invested in mortgage bonds that would increase in value as the Fed began massive purchases in the sector.

When credit-related sectors saw massive amounts of pressure — first from the crisis and then from forced selling — managers were able to move the portfolio from very defensive to offensive by purchasing those bonds that our analysts favored at prices that were extremely attractive. This included both investment-grade and select high-yield corporate bonds. As the recovery took hold later in the year, the portfolio shed some of those bonds with valuations moving toward, and in some cases through, pre-pandemic levels.

At times, the fund’s interest rate strategies utilized interest rate swaps and futures to more efficiently execute the portfolio’s positioning based on how managers expected yields to move. These and the use of credit default swaps — derivatives used to manage exposure to corporate bonds — had a net positive impact on results by helping to express managers’ convictions more efficiently.

Looking ahead

Managers expect the economic recovery to continue through 2021. Its path, however, is likely to be bumpy. During the period, fresh fiscal stimulus provided by Washington and continued accommodative monetary policy from the Fed should help to keep U.S. economic growth moving in the right direction.

Valuations have recovered to a significant extent, particularly in the higher quality parts of the market. As disciplined gradual contrarians, managers have once again begun reducing risk. This should enable managers to take advantage of future volatility by purchasing bonds when prices look more attractive. As managers reduce positions in both investment-grade and high-yield corporate bonds, new investments will focus on bonds that our analysts believe have greater value per unit of risk based on their research.

The portfolio is currently underweight interest rate risk. As rates rise, managers will likely find opportunities to increase the fund’s exposure to interest rate risk. This is likely to apply more to bonds with longer maturities, as the Fed is expected to hold shorter term yields low for at least the next few years.

Although the portfolio leans toward an economic recovery, managers anticipate a high degree of uncertainty and a fragile state of the economy. As a result, we are keen to maintain focus on our primary role of providing diversification and capital preservation for our shareholders’ overall portfolios. As such, our long-term mission remains unchanged. Thank you for your trust in our portfolio management team in this challenging time.

Cordially,

Pramod Atluri
President

February 11, 2021

For current information about the fund, visit capitalgroup.com.

The Bond Fund of America 3

The value of a long-term perspective

 

Fund results shown are for Class A shares and reflect deduction of the maximum sales charge of 3.75% on the $10,000 investment.¹ Thus, the net amount invested was $9,625.² 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. Share 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.

The results shown are before taxes on fund distributions and sale of fund shares.

1	As outlined in the prospectus, the sales charge is reduced for accounts (and aggregated investments) of $100,000 or more and is eliminated for purchases of $1 million or more. There is no sales charge on dividends or capital gain distributions that are reinvested in additional shares.
2	The maximum initial sales charge was 8.5% prior to December 15, 1986, when it became 4.75% until January 9, 2000.
3	Source: Bloomberg Index Services Ltd. Bloomberg Barclays U.S. Aggregate Index represents the U.S. investment-grade fixed-rate bond market. From May 28, 1974, through December 31, 1975, Bloomberg Barclays U.S. Government/Credit Index was used because Bloomberg Barclays U.S. Aggregate Index did not yet exist. Since January 1, 1976, the Bloomberg Barclays U.S. Aggregate Index has been used. These indexes are unmanaged and, therefore, have no expenses. Investors cannot invest directly in an index.
4	For the period May 28, 1974, commencement of operations, through December 31, 1974.

4 The Bond Fund of America

How a hypothetical $10,000 investment has grown

There have always been reasons not to invest. You will find, however, that despite occasional stumbles, financial markets have tended to reward investors over the long term. Dividends, particularly when reinvested, have accounted for a large portion of the fund’s overall results.

The Bond Fund of America 5

Investment portfolio December 31, 2020

Portfolio quality summary*	Percent of net assets
U.S. Treasury and agency†		27.77	%
AAA/Aaa		32.74
AA/Aa		4.59
A/A		10.10
BBB/Baa		16.28
Below investment grade		4.33
Unrated		.04
Short-term securities & other assets less liabilities		4.15

*

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. The ratings are not covered by the Report of Independent Registered Public Accounting Firm.

†

These securities are guaranteed by the full faith and credit of the U.S. government.

Bonds, notes & other debt instruments 95.81%	Principal amount (000)		Value (000)
Mortgage-backed obligations 31.99%
Federal agency mortgage-backed obligations 30.41%
Fannie Mae Pool #976945 5.50% 20231	$	2	$	3
Fannie Mae Pool #976948 6.00% 20231		25		26
Fannie Mae Pool #932119 4.50% 20241		962		1,017
Fannie Mae Pool #AD6392 4.50% 20251		1,085		1,154
Fannie Mae Pool #AD3149 4.50% 20251		662		705
Fannie Mae Pool #AD5692 4.50% 20251		597		636
Fannie Mae Pool #AB1068 4.50% 20251		4		4
Fannie Mae Pool #AJ5476 3.00% 20261		185		195
Fannie Mae Pool #MA3131 3.00% 20271		105		110
Fannie Mae Pool #MA2973 3.00% 20271		12		13
Fannie Mae Pool #AL7800 2.50% 20301		5,866		6,229
Fannie Mae Pool #BM4299 3.00% 20301		17		18
Fannie Mae Pool #AL9668 3.00% 20301		16		17
Fannie Mae Pool #AZ4646 3.50% 20301		368		394
Fannie Mae Pool #AZ0554 3.50% 20301		315		338
Fannie Mae Pool #AY1948 3.50% 20301		262		281
Fannie Mae Pool #AS8388 2.50% 20311		4,716		4,999
Fannie Mae Pool #AS7323 2.50% 20311		3,728		3,977
Fannie Mae Pool #CA3178 3.00% 20311		1,066		1,128
Fannie Mae Pool #890710 3.00% 20311		19		20
Fannie Mae Pool #FM1162 2.50% 20321		3,556		3,786
Fannie Mae Pool #BM1036 2.50% 20321		420		445
Fannie Mae Pool #BH7659 3.00% 20321		14,922		15,670
Fannie Mae Pool #CA3274 3.00% 20321		790		844
Fannie Mae Pool #BH9235 3.00% 20331		1,392		1,492
Fannie Mae Pool #BJ4890 3.00% 20331		760		813
Fannie Mae Pool #BJ4856 3.00% 20331		489		523
Fannie Mae Pool #BM5111 3.00% 20331		424		450
Fannie Mae Pool #MA3247 3.00% 20331		414		434
Fannie Mae Pool #BK7453 3.00% 20331		281		296

6 The Bond Fund of America

Bonds, notes & other debt instruments (continued)	Principal amount (000)			Value (000)
Mortgage-backed obligations (continued)
Federal agency mortgage-backed obligations (continued)
Fannie Mae Pool #CA2106 3.50% 20331	$	241		$	257
Fannie Mae Pool #MA3518 4.00% 20331		38			41
Fannie Mae Pool #695412 5.00% 20331		9			10
Fannie Mae Pool #CA4453 2.50% 20341		7,246			7,557
Fannie Mae Pool #BO1359 2.50% 20341		2,976			3,139
Fannie Mae Pool #FM1490 3.50% 20341		9,559			10,249
Fannie Mae Pool #MA4178 1.50% 20351		500			514
Fannie Mae Pool #BR0189 1.50% 20351		400			412
Fannie Mae Pool #MA4205 1.50% 20351		—	2		—	2
Fannie Mae Pool #AD3566 5.00% 20351		113			126
Fannie Mae Pool #MA4228 1.50% 20361		304,340			313,310
Fannie Mae Pool #MA4229 2.00% 20361		83,328			87,173
Fannie Mae Pool #AS8355 3.00% 20361		15,095			15,962
Fannie Mae Pool #AS8554 3.00% 20361		1,765			1,859
Fannie Mae Pool #MA2746 4.00% 20361		2,871			3,128
Fannie Mae Pool #MA2588 4.00% 20361		2,674			2,913
Fannie Mae Pool #MA2787 4.00% 20361		1,942			2,121
Fannie Mae Pool #AS6870 4.00% 20361		691			752
Fannie Mae Pool #MA2717 4.00% 20361		508			556
Fannie Mae Pool #893837 7.00% 20361		124			133
Fannie Mae Pool #924866 2.265% 20371,3		28			29
Fannie Mae Pool #MA2897 3.00% 20371		35,243			37,123
Fannie Mae Pool #MA2866 3.00% 20371		19,797			20,934
Fannie Mae Pool #945680 6.00% 20371		29			35
Fannie Mae Pool #913966 6.00% 20371		3			4
Fannie Mae Pool #924069 7.00% 20371		151			166
Fannie Mae Pool #954927 7.00% 20371		105			114
Fannie Mae Pool #966170 7.00% 20371		85			89
Fannie Mae Pool #954936 7.00% 20371		40			44
Fannie Mae Pool #257022 7.50% 20371		104			112
Fannie Mae Pool #914612 7.50% 20371		58			60
Fannie Mae Pool #923171 7.50% 20371		45			53
Fannie Mae Pool #889101 2.125% 20381,3		122			126
Fannie Mae Pool #964279 2.633% 20381,3		112			113
Fannie Mae Pool #964708 2.765% 20381,3		15			15
Fannie Mae Pool #MA3539 4.50% 20381		104			114
Fannie Mae Pool #889982 5.50% 20381		29			34
Fannie Mae Pool #988588 5.50% 20381		5			6
Fannie Mae Pool #AC2641 4.50% 20391		5,359			6,019
Fannie Mae Pool #AC0794 5.00% 20391		292			339
Fannie Mae Pool #931768 5.00% 20391		91			105
Fannie Mae Pool #AE7629 2.273% 20401,3		50			52
Fannie Mae Pool #AL9335 2.604% 20401,3		4,635			4,851
Fannie Mae Pool #AE7567 4.00% 20401		3,749			4,113
Fannie Mae Pool #AH0007 4.00% 20401		3,684			4,061
Fannie Mae Pool #AE1761 4.00% 20401		3,254			3,546
Fannie Mae Pool #AH0539 4.00% 20401		954			1,052
Fannie Mae Pool #AE8073 4.00% 20401		651			723
Fannie Mae Pool #AD8522 4.00% 20401		177			194
Fannie Mae Pool #AE5471 4.50% 20401		1,042			1,170
Fannie Mae Pool #AB1297 5.00% 20401		473			551
Fannie Mae Pool #932606 5.00% 20401		281			327
Fannie Mae Pool #AL9531 2.856% 20411,3		3,668			3,846
Fannie Mae Pool #AL9327 3.122% 20411,3		4,333			4,547
Fannie Mae Pool #AL9326 3.302% 20411,3		5,952			6,243
Fannie Mae Pool #AE0844 3.352% 20411,3		380			398
Fannie Mae Pool #AL0073 3.696% 20411,3		296			309
Fannie Mae Pool #AE0789 3.714% 20411,3		415			435
Fannie Mae Pool #AJ7471 4.00% 20411		1,412			1,557
Fannie Mae Pool #AB4050 4.00% 20411		991			1,102
Fannie Mae Pool #AI5172 4.00% 20411		835			921
Fannie Mae Pool #AJ4189 4.00% 20411		632			703
Fannie Mae Pool #AJ1873 4.00% 20411		624			703
Fannie Mae Pool #AJ4154 4.00% 20411		627			697
Fannie Mae Pool #AJ0257 4.00% 20411		270			303
Fannie Mae Pool #AL0658 4.50% 20411		1,127			1,265
Fannie Mae Pool #AH6099 5.00% 20411		2,455			2,842

The Bond Fund of America 7

Bonds, notes & other debt instruments (continued)	Principal amount (000)		Value (000)
Mortgage-backed obligations (continued)
Federal agency mortgage-backed obligations (continued)
Fannie Mae Pool #AI1862 5.00% 20411	$	2,299	$	2,674
Fannie Mae Pool #AI3510 5.00% 20411		1,352		1,572
Fannie Mae Pool #AJ0704 5.00% 20411		1,226		1,426
Fannie Mae Pool #AJ5391 5.00% 20411		702		811
Fannie Mae Pool #AE1274 5.00% 20411		502		584
Fannie Mae Pool #AE1248 5.00% 20411		345		398
Fannie Mae Pool #AE1277 5.00% 20411		292		336
Fannie Mae Pool #AE1283 5.00% 20411		179		203
Fannie Mae Pool #AH9479 5.00% 20411		77		89
Fannie Mae Pool #AH8144 5.00% 20411		76		89
Fannie Mae Pool #AP7819 2.238% 20421,3		379		394
Fannie Mae Pool #AL2000 2.545% 20421,3		495		516
Fannie Mae Pool #AL9532 2.573% 20421,3		4,352		4,540
Fannie Mae Pool #AL2184 2.618% 20421,3		806		842
Fannie Mae Pool #AL1941 2.76% 20421,3		518		539
Fannie Mae Pool #AP7553 3.00% 20421		13,451		14,391
Fannie Mae Pool #AL9530 3.086% 20421,3		2,911		3,045
Fannie Mae Pool #AL9533 3.087% 20421,3		2,023		2,116
Fannie Mae Pool #AX3703 4.00% 20421		6,106		6,698
Fannie Mae Pool #AK6740 4.00% 20421		5,978		6,695
Fannie Mae Pool #AL2745 4.00% 20421		4,990		5,548
Fannie Mae Pool #890407 4.00% 20421		1,637		1,820
Fannie Mae Pool #AK4949 4.00% 20421		389		424
Fannie Mae Pool #AE1290 5.00% 20421		352		405
Fannie Mae Pool #AT5898 3.00% 20431		29,799		31,715
Fannie Mae Pool #AL3829 3.50% 20431		5,547		6,068
Fannie Mae Pool #AT7161 3.50% 20431		2,458		2,674
Fannie Mae Pool #AR1512 3.50% 20431		1,176		1,291
Fannie Mae Pool #AT0412 3.50% 20431		600		656
Fannie Mae Pool #AT3954 3.50% 20431		321		350
Fannie Mae Pool #AT0300 3.50% 20431		249		269
Fannie Mae Pool #AV0786 4.00% 20431		4,948		5,469
Fannie Mae Pool #AT2683 4.00% 20431		4,884		5,384
Fannie Mae Pool #BM6240 2.754% 20441,3		4,656		4,867
Fannie Mae Pool #AL8421 3.50% 20441		24,011		26,018
Fannie Mae Pool #AY1829 3.50% 20441		439		482
Fannie Mae Pool #AX8521 3.50% 20441		382		420
Fannie Mae Pool #AW8240 3.50% 20441		89		94
Fannie Mae Pool #AX0817 4.00% 20441		212		227
Fannie Mae Pool #BE5017 3.50% 20451		3,068		3,336
Fannie Mae Pool #BE5009 3.50% 20451		2,481		2,671
Fannie Mae Pool #AZ7366 4.00% 20451		32,648		36,038
Fannie Mae Pool #AS6348 4.00% 20451		5,405		5,966
Fannie Mae Pool #FM2834 3.00% 20461		95,231		101,429
Fannie Mae Pool #BC4764 3.00% 20461		4,703		4,950
Fannie Mae Pool #MA2833 3.00% 20461		75		79
Fannie Mae Pool #BC9077 3.50% 20461		29,011		31,474
Fannie Mae Pool #BD9236 3.50% 20461		683		738
Fannie Mae Pool #AL8522 3.50% 20461		52		56
Fannie Mae Pool #AS6839 4.00% 20461		7,841		8,572
Fannie Mae Pool #BC1352 4.00% 20461		2,653		2,873
Fannie Mae Pool #BD1968 4.00% 20461		89		97
Fannie Mae Pool #MA2809 4.50% 20461		1,096		1,169
Fannie Mae Pool #BC8647 4.50% 20461		692		754
Fannie Mae Pool #BD7529 4.50% 20461		637		705
Fannie Mae Pool #BD9248 4.50% 20461		451		490
Fannie Mae Pool #BD1550 4.50% 20461		433		475
Fannie Mae Pool #MA2821 4.50% 20461		331		351
Fannie Mae Pool #BD7600 4.50% 20461		83		90
Fannie Mae Pool #BD2440 3.50% 20471		3,840		4,088
Fannie Mae Pool #BE8740 3.50% 20471		2,851		3,098
Fannie Mae Pool #BE8742 3.50% 20471		847		929
Fannie Mae Pool #BH2848 3.50% 20471		436		470
Fannie Mae Pool #CA0770 3.50% 20471		413		439
Fannie Mae Pool #BH2846 3.50% 20471		338		369
Fannie Mae Pool #BH2847 3.50% 20471		286		307
Fannie Mae Pool #BJ1910 3.50% 20471		162		172

8 The Bond Fund of America

Bonds, notes & other debt instruments (continued)	Principal amount (000)		Value (000)
Mortgage-backed obligations (continued)
Federal agency mortgage-backed obligations (continued)
Fannie Mae Pool #CA0453 4.00% 20471	$	14,726	$	15,791
Fannie Mae Pool #MA3211 4.00% 20471		9,429		10,131
Fannie Mae Pool #BJ5015 4.00% 20471		6,702		7,369
Fannie Mae Pool #BD3554 4.00% 20471		1,570		1,684
Fannie Mae Pool #BH3122 4.00% 20471		215		234
Fannie Mae Pool #BM4413 4.50% 20471		13,041		14,214
Fannie Mae Pool #BH0876 4.50% 20471		4,495		4,925
Fannie Mae Pool #BJ3558 4.50% 20471		3,206		3,503
Fannie Mae Pool #BJ3525 4.50% 20471		3,112		3,400
Fannie Mae Pool #BJ3581 4.50% 20471		2,067		2,262
Fannie Mae Pool #MA3002 4.50% 20471		1,631		1,735
Fannie Mae Pool #257063 7.00% 20471		48		56
Fannie Mae Pool #256893 7.00% 20471		12		14
Fannie Mae Pool #BF0293 3.00% 20481		20,817		22,218
Fannie Mae Pool #BM4488 3.398% 20481,3		14,167		14,739
Fannie Mae Pool #BF0318 3.50% 20481		71,949		77,780
Fannie Mae Pool #CA1532 3.50% 20481		12,432		13,214
Fannie Mae Pool #CA1189 3.50% 20481		3,157		3,352
Fannie Mae Pool #BJ4901 3.50% 20481		1,954		2,135
Fannie Mae Pool #FM2669 4.00% 20481		25,342		27,013
Fannie Mae Pool #CA2374 4.00% 20481		10,622		11,351
Fannie Mae Pool #CA2850 4.00% 20481		7,717		8,638
Fannie Mae Pool #BK6840 4.00% 20481		4,300		4,710
Fannie Mae Pool #BK5232 4.00% 20481		3,436		3,788
Fannie Mae Pool #BK9743 4.00% 20481		1,190		1,305
Fannie Mae Pool #BK0920 4.00% 20481		351		375
Fannie Mae Pool #BJ9252 4.00% 20481		111		118
Fannie Mae Pool #BK0915 4.00% 20481		33		35
Fannie Mae Pool #BK7665 4.50% 20481		18,864		20,941
Fannie Mae Pool #BK0951 4.50% 20481		14,399		16,133
Fannie Mae Pool #BK0163 4.50% 20481		5,482		5,991
Fannie Mae Pool #BN1576 4.50% 20481		2,469		2,679
Fannie Mae Pool #BK9761 4.50% 20481		764		840
Fannie Mae Pool #CA2166 4.50% 20481		33		36
Fannie Mae Pool #CA2205 4.50% 20481		22		24
Fannie Mae Pool #CA2493 4.50% 20481		8		8
Fannie Mae Pool #CA3964 3.00% 20491		181,424		194,352
Fannie Mae Pool #CA3807 3.00% 20491		3,613		3,920
Fannie Mae Pool #CA4534 3.00% 20491		2,827		3,061
Fannie Mae Pool #CA3806 3.00% 20491		1,953		2,125
Fannie Mae Pool #CA4021 3.50% 20491		60,645		65,017
Fannie Mae Pool #BN6708 3.50% 20491		54,646		58,728
Fannie Mae Pool #CA4802 3.50% 20491		45,704		50,246
Fannie Mae Pool #BO3252 3.50% 20491		28,124		30,712
Fannie Mae Pool #CA4151 3.50% 20491		17,547		19,339
Fannie Mae Pool #FM1062 3.50% 20491		15,689		17,283
Fannie Mae Pool #FM1443 3.50% 20491		13,094		14,363
Fannie Mae Pool #BO1588 3.50% 20491		8,253		8,996
Fannie Mae Pool #BJ8411 3.50% 20491		5,761		6,317
Fannie Mae Pool #BJ8402 3.53% 20491,3		2,824		2,944
Fannie Mae Pool #FM1963 4.00% 20491		69,308		76,655
Fannie Mae Pool #FM1913 4.00% 20491		4,046		4,369
Fannie Mae Pool #CA5506 3.00% 20501		78,467		85,130
Fannie Mae Pool #CA5536 3.00% 20501		76,058		82,210
Fannie Mae Pool #BP1948 3.00% 20501		22,130		24,091
Fannie Mae Pool #CA5229 3.00% 20501		21,956		23,768
Fannie Mae Pool #CA5338 3.00% 20501		20,277		21,416
Fannie Mae Pool #FM2839 3.50% 20501		49,199		53,490
Fannie Mae Pool #FM2664 3.50% 20501		46,381		50,897
Fannie Mae Pool #BP1954 3.50% 20501		35,439		38,729
Fannie Mae Pool #MA4256 2.50% 20511		14,705		15,509
Fannie Mae Pool #BF0264 3.50% 20581		22,391		24,761
Fannie Mae, Series 2001-4, Class NA, 9.011% 20251,3		2		2
Fannie Mae, Series 2001-4, Class GA, 9.081% 20251,3		1		1
Fannie Mae, Series 1998-W5, Class B3, 6.50% 20281,4		377		378
Fannie Mae, Series 2002-W7, Class A5, 7.50% 20291		77		95
Fannie Mae, Series 2001-25, Class ZA, 6.50% 20311		758		860

The Bond Fund of America 9

Bonds, notes & other debt instruments (continued)	Principal amount (000)			Value (000)
Mortgage-backed obligations (continued)
Federal agency mortgage-backed obligations (continued)
Fannie Mae, Series 2001-T10, Class A1, 7.00% 20411	$	1,248		$	1,478
Fannie Mae, Series 2001-50, Class BA, 7.00% 20411		220			253
Fannie Mae, Series 2002-W3, Class A5, 7.50% 20411		669			817
Fannie Mae, Series 2002-W1, Class 2A, 5.522% 20421,3		959			1,074
Fannie Mae, Series 2017-M3, Class A2, Multi Family, 2.477% 20261,3		10			11
Fannie Mae, Series 2017-M15, Class A2, Multi Family, 2.959% 20271,3		3,700			4,190
Fannie Mae, Series 2017-M12, Class A2, Multi Family, 3.079% 20271,3		5,000			5,652
Fannie Mae, Series 2019-M5, Class A2, Multi Family, 3.273% 20291		430			499
Fannie Mae, Series 2006-51, Class PO, principal only, 0% 20361		612			584
Fannie Mae, Series 2006-32, Class OA, principal only, 0% 20361		592			553
Fannie Mae, Series 2006-96, Class OP, principal only, 0% 20361		213			201
Freddie Mac Pool #ZK3848 3.00% 20271		97			102
Freddie Mac Pool #G15732 3.00% 20301		10,760			11,556
Freddie Mac Pool #ZT1332 3.00% 20301		9,560			10,248
Freddie Mac Pool #D98356 4.50% 20301		258			280
Freddie Mac Pool #V61295 2.50% 20311		10,435			11,089
Freddie Mac Pool #ZK8180 2.50% 20311		4,361			4,633
Freddie Mac Pool #G16634 3.00% 20311		16,243			17,517
Freddie Mac Pool #G18652 3.00% 20321		16,861			17,711
Freddie Mac Pool #G18655 3.00% 20321		10,777			11,374
Freddie Mac Pool #V61960 3.00% 20331		8,029			8,540
Freddie Mac Pool #A15120 5.50% 20331		3			3
Freddie Mac Pool #SB8078 1.50% 20351		23,313			24,000
Freddie Mac Pool #SB8068 1.50% 20351		—	2		—	2
Freddie Mac Pool #SB8073 1.50% 20351		—	2		—	2
Freddie Mac Pool #SB8083 1.50% 20361		86,594			89,147
Freddie Mac Pool #SB8084 2.00% 20361		407,445			426,245
Freddie Mac Pool #G30933 4.00% 20361		21,390			23,368
Freddie Mac Pool #G30911 4.00% 20361		4,953			5,395
Freddie Mac Pool #K93532 4.00% 20361		1,933			2,105
Freddie Mac Pool #C91883 4.00% 20361		824			901
Freddie Mac Pool #C91917 3.00% 20371		999			1,052
Freddie Mac Pool #C91948 4.00% 20371		6,129			6,624
Freddie Mac Pool #G04804 4.50% 20371		2,153			2,397
Freddie Mac Pool #A56076 5.50% 20371		16			19
Freddie Mac Pool #G03695 5.50% 20371		4			5
Freddie Mac Pool #H09093 7.50% 20371		66			77
Freddie Mac Pool #G08248 5.50% 20381		60			70
Freddie Mac Pool #G05267 5.50% 20381		3			4
Freddie Mac Pool #G05196 5.50% 20381		3			3
Freddie Mac Pool #A87873 5.00% 20391		4,076			4,743
Freddie Mac Pool #G06020 5.50% 20391		6			8
Freddie Mac Pool #840222 2.803% 20401,3		1,269			1,333
Freddie Mac Pool #G05937 4.50% 20401		9,082			10,167
Freddie Mac Pool #A93948 4.50% 20401		10			12
Freddie Mac Pool #G05860 5.50% 20401		21			25
Freddie Mac Pool #Q02705 4.50% 20411		4,056			4,551
Freddie Mac Pool #G06956 4.50% 20411		981			1,102
Freddie Mac Pool #G06769 4.50% 20411		440			488
Freddie Mac Pool #Q01992 4.50% 20411		141			156
Freddie Mac Pool #G06868 4.50% 20411		9			10
Freddie Mac Pool #G06648 5.00% 20411		1,789			2,066
Freddie Mac Pool #Q01658 5.00% 20411		505			576
Freddie Mac Pool #G06841 5.50% 20411		28			32
Freddie Mac Pool #Q18236 3.50% 20431		2,470			2,688
Freddie Mac Pool #Q19133 3.50% 20431		1,570			1,708
Freddie Mac Pool #Q17696 3.50% 20431		1,386			1,516
Freddie Mac Pool #841039 3.54% 20431,3		4,588			4,748
Freddie Mac Pool #Q22946 4.00% 20431		7,628			8,420
Freddie Mac Pool #Q15874 4.00% 20431		145			155
Freddie Mac Pool #Q28558 3.50% 20441		4,767			5,217
Freddie Mac Pool #760012 3.097% 20451,3		1,310			1,368
Freddie Mac Pool #760014 3.116% 20451,3		4,188			4,372
Freddie Mac Pool #760013 3.162% 20451,3		737			769
Freddie Mac Pool #G60138 3.50% 20451		950			1,044
Freddie Mac Pool #G60344 4.00% 20451		19,390			21,483
Freddie Mac Pool #V81992 4.00% 20451		1,184			1,288

10 The Bond Fund of America

Bonds, notes & other debt instruments (continued)	Principal amount (000)		Value (000)
Mortgage-backed obligations (continued)
Federal agency mortgage-backed obligations (continued)
Freddie Mac Pool #Z40130 3.00% 20461	$	3,564	$	3,891
Freddie Mac Pool #T65375 3.50% 20461		322		336
Freddie Mac Pool #Q44689 4.50% 20461		1,307		1,436
Freddie Mac Pool #Q43461 4.50% 20461		846		940
Freddie Mac Pool #Q42633 4.50% 20461		722		802
Freddie Mac Pool #Q43312 4.50% 20461		647		717
Freddie Mac Pool #Q42034 4.50% 20461		431		472
Freddie Mac Pool #760015 2.849% 20471,3		4,480		4,633
Freddie Mac Pool #G61733 3.00% 20471		12,179		13,211
Freddie Mac Pool #Q52069 3.50% 20471		4,147		4,508
Freddie Mac Pool #Q47615 3.50% 20471		2,855		3,135
Freddie Mac Pool #Q51622 3.50% 20471		2,143		2,354
Freddie Mac Pool #Q52613 4.00% 20471		9,781		10,576
Freddie Mac Pool #G08793 4.00% 20471		7,911		8,489
Freddie Mac Pool #Q52596 4.50% 20471		2,770		3,025
Freddie Mac Pool #Q47828 4.50% 20471		1,075		1,175
Freddie Mac Pool #G67710 3.50% 20481		50,450		54,292
Freddie Mac Pool #G67709 3.50% 20481		44,940		49,117
Freddie Mac Pool #Q55056 3.50% 20481		3,597		3,895
Freddie Mac Pool #Q54709 3.50% 20481		3,098		3,368
Freddie Mac Pool #Q54701 3.50% 20481		2,912		3,166
Freddie Mac Pool #Q54782 3.50% 20481		2,553		2,776
Freddie Mac Pool #Q54781 3.50% 20481		2,371		2,591
Freddie Mac Pool #Q54700 3.50% 20481		2,272		2,483
Freddie Mac Pool #Q56590 3.50% 20481		1,451		1,575
Freddie Mac Pool #Q56589 3.50% 20481		1,374		1,502
Freddie Mac Pool #Q54698 3.50% 20481		1,194		1,318
Freddie Mac Pool #Q54699 3.50% 20481		1,108		1,216
Freddie Mac Pool #Q55060 3.50% 20481		1,116		1,209
Freddie Mac Pool #Q56591 3.50% 20481		1,057		1,133
Freddie Mac Pool #Q54831 3.50% 20481		817		897
Freddie Mac Pool #G61628 3.50% 20481		298		323
Freddie Mac Pool #G67711 4.00% 20481		33,464		36,905
Freddie Mac Pool #SI2002 4.00% 20481		17,607		18,846
Freddie Mac Pool #Q53878 4.00% 20481		10,240		11,065
Freddie Mac Pool #Q56599 4.00% 20481		4,856		5,321
Freddie Mac Pool #ZA5889 4.00% 20481		4,605		4,964
Freddie Mac Pool #Q56175 4.00% 20481		3,631		4,005
Freddie Mac Pool #Q55971 4.00% 20481		3,237		3,570
Freddie Mac Pool #G08805 4.00% 20481		2,952		3,170
Freddie Mac Pool #Q55970 4.00% 20481		1,594		1,768
Freddie Mac Pool #Q58411 4.50% 20481		6,502		7,230
Freddie Mac Pool #Q58436 4.50% 20481		2,933		3,284
Freddie Mac Pool #Q58378 4.50% 20481		2,435		2,681
Freddie Mac Pool #Q57242 4.50% 20481		934		1,024
Freddie Mac Pool #SD7507 3.00% 20491		65,438		70,772
Freddie Mac Pool #QA4692 3.00% 20491		48,117		52,136
Freddie Mac Pool #QA4673 3.00% 20491		11,869		12,820
Freddie Mac Pool #SD7508 3.50% 20491		116,279		127,545
Freddie Mac Pool #QA5131 3.50% 20491		55,783		59,722
Freddie Mac Pool #QA5125 3.50% 20491		40,619		44,657
Freddie Mac Pool #RA1580 3.50% 20491		12,088		13,430
Freddie Mac Pool #RA1463 3.50% 20491		11,925		13,150
Freddie Mac Pool #QA1885 3.50% 20491		8,320		9,070
Freddie Mac Pool #QA0284 3.50% 20491		7,544		8,271
Freddie Mac Pool #QA2748 3.50% 20491		2,489		2,733
Freddie Mac Pool #RA2596 2.50% 20501		5,488		5,852
Freddie Mac Pool #SD7512 3.00% 20501		176,606		189,095
Freddie Mac Pool #RA2020 3.00% 20501		155,311		166,938
Freddie Mac Pool #QA7075 3.00% 20501		74,115		79,127
Freddie Mac Pool #RA1914 3.00% 20501		62,772		67,442
Freddie Mac Pool #SD0234 3.00% 20501		51,878		55,700
Freddie Mac Pool #SD7517 3.00% 20501		46,381		50,549
Freddie Mac Pool #QA8575 3.00% 20501		45,229		48,772
Freddie Mac Pool #RA2319 3.00% 20501		34,936		36,897
Freddie Mac Pool #SD0187 3.00% 20501		20,620		22,439
Freddie Mac Pool #QA8801 3.00% 20501		18,713		20,150

The Bond Fund of America 11

Bonds, notes & other debt instruments (continued)	Principal amount (000)		Value (000)
Mortgage-backed obligations (continued)
Federal agency mortgage-backed obligations (continued)
Freddie Mac Pool #SD7514 3.50% 20501	$	89,233	$	95,989
Freddie Mac Pool #SD8053 4.50% 20501		428		464
Freddie Mac, Series 2122, Class QM, 6.25% 20291		384		429
Freddie Mac, Series 3257, Class PA, 5.50% 20361		3,712		4,338
Freddie Mac, Series 3286, Class JN, 5.50% 20371		2,839		3,221
Freddie Mac, Series 3318, Class JT, 5.50% 20371		1,716		1,976
Freddie Mac, Series 4582, Class GA, 3.75% 20521,3		5,524		5,733
Freddie Mac, Series KS01, Class A2, Multi Family, 2.522% 20231		3,058		3,146
Freddie Mac, Series K036, Class A2, Multi Family, 3.527% 20231		2,000		2,164
Freddie Mac, Series K044, Class A2, Multi Family, 2.811% 20251		43,390		47,286
Freddie Mac, Series K049, Class A2, Multi Family, 3.01% 20251		774		856
Freddie Mac, Series K734, Class A2, Multi Family, 3.208% 20261		5,065		5,653
Freddie Mac, Series K060, Class A2, Multi Family, 3.30% 20261		400		457
Freddie Mac, Series K061, Class A2, Multi Family, 3.347% 20261		2,951		3,379
Freddie Mac, Series K064, Class A2, Multi Family, 3.224% 20271,3		1,000		1,143
Freddie Mac, Series K065, Class A2, Multi Family, 3.243% 20271		1,170		1,341
Freddie Mac, Series K074, Class A2, Multi Family, 3.60% 20281		955		1,124
Freddie Mac, Series K084, Class A2, Multi Family, 3.78% 20281,3		6,045		7,198
Freddie Mac, Series K078, Class A2, Multi Family, 3.854% 20281		4,000		4,786
Freddie Mac, Series K076, Class A2, Multi Family, 3.90% 20281		3,965		4,756
Freddie Mac, Series K081, Class A2, Multi Family, 3.90% 20281,3		1,700		2,046
Freddie Mac, Series K082, Class A2, Multi Family, 3.92% 20281,3		1,680		2,029
Freddie Mac, Series K079, Class A2, Multi Family, 3.926% 20281		172		207
Freddie Mac, Series K083, Class A2, Multi Family, 4.05% 20281,3		3,000		3,652
Freddie Mac, Series K101, Class A2, Multi Family, 2.524% 20291		62		69
Freddie Mac, Series K090, Class A2, Multi Family, 3.422% 20291		5,000		5,897
Freddie Mac, Series K089, Class A2, Multi Family, 3.563% 20291		5,249		6,238
Freddie Mac, Series K105, Class A2, Multi Family, 1.872% 20531		23		24
Freddie Mac, Series 3156, Class PO, principal only, 0% 20361		1,512		1,420
Freddie Mac, Series 3147, Class OD, principal only, 0% 20361		449		427
Freddie Mac, Series 3136, Class OP, principal only, 0% 20361		427		410
Freddie Mac, Series 3149, Class MO, principal only, 0% 20361		321		306
Freddie Mac, Series 3149, Class AO, principal only, 0% 20361		230		217
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-2, Class MA, 3.00% 20561		50,069		53,704
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-2, Class HA, 3.00% 20561,3		49,068		51,564
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-1, Class HA, 3.00% 20561,3		42,237		44,399
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-3, Class MT, 3.00% 20561		7,964		8,544
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-1, Class MA, 3.00% 20561		5,137		5,515
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-3, Class HA, 3.25% 20561,3		17,064		18,092
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-3, Class HT, 3.25% 20561		1,535		1,685
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2018-1, Class HT, 3.00% 20571		8,148		8,838
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-4, Class HT, 3.25% 20571,3		22,741		24,797
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2018-3, Class MA, 3.50% 20571		90,319		97,852
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2018-2, Class MT, 3.50% 20571		22,615		24,697
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-4, Class MT, 3.50% 20571		15,643		17,078
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2017-4, Class M45T, 4.50% 20571		8,693		9,571
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-2, Class MA, 3.50% 20581		36,843		40,158
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-1, Class MT, 3.50% 20581		4,390		4,796
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-2, Class MT, 3.50% 20581		3,569		3,897
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-3, Class MT, 3.50% 20581		2,389		2,631
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-1, Class MA, 3.50% 20581		2,411		2,621
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-3, Class MA, 3.50% 20581		1,081		1,177
Freddie Mac Seasoned Credit Risk Transfer Trust, Series 2019-4, Class MA, 3.00% 20591		182,455		194,666
Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2018-2, Class A1, 3.50% 20281		49,002		51,841
Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2018-1, Class A1, 3.50% 20281		30,844		32,461
Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2019-2, Class A1C, 2.75% 20291		85,565		90,042
Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2019-3, Class A1C, 2.75% 20291		70,663		74,790
Freddie Mac Seasoned Loan Structured Transaction Trust, Series 2019-1, Class A1, 3.50% 20291		23,437		24,862
Government National Mortgage Assn. 2.00% 20511,5		964,823		1,005,675
Government National Mortgage Assn. 2.00% 20511,5		822,177		858,339
Government National Mortgage Assn. 2.50% 20511,5		104,798		110,513
Government National Mortgage Assn. 3.00% 20511,5		108,524		113,547

12 The Bond Fund of America

Bonds, notes & other debt instruments (continued)	Principal amount (000)		Value (000)
Mortgage-backed obligations (continued)
Federal agency mortgage-backed obligations (continued)
Government National Mortgage Assn. 3.50% 20511,5	$	91,070	$	96,435
Government National Mortgage Assn. 3.50% 20511,5		63,314		67,084
Government National Mortgage Assn. 4.00% 20511,5		7,457		7,955
Government National Mortgage Assn. 4.50% 20511,5		46,070		49,379
Government National Mortgage Assn. 4.50% 20511,5		19,248		20,613
Government National Mortgage Assn. Pool #MA0908 2.50% 20281		1,156		1,206
Government National Mortgage Assn. Pool #AB3820 5.00% 20351		261		288
Government National Mortgage Assn. Pool #AB3587 6.50% 20381		178		204
Government National Mortgage Assn. Pool #AB3819 5.00% 20391		298		325
Government National Mortgage Assn. Pool #004636 4.50% 20401		1,475		1,642
Government National Mortgage Assn. Pool #783689 5.50% 20401		2,327		2,680
Government National Mortgage Assn. Pool #783687 4.50% 20411		6,101		6,600
Government National Mortgage Assn. Pool #AC2886 4.50% 20411		848		918
Government National Mortgage Assn. Pool #AB3664 4.50% 20411		229		246
Government National Mortgage Assn. Pool #AB3818 4.50% 20411		206		221
Government National Mortgage Assn. Pool #783688 5.00% 20411		2,274		2,564
Government National Mortgage Assn. Pool #754353 3.50% 20421		630		664
Government National Mortgage Assn. Pool #AD7620 3.50% 20431		1,191		1,278
Government National Mortgage Assn. Pool #MA2893 4.00% 20451		170		188
Government National Mortgage Assn. Pool #BC1530 3.00% 20471		17,707		18,072
Government National Mortgage Assn. Pool #BC1565 3.00% 20471		7,672		7,811
Government National Mortgage Assn. Pool #MA5594 3.50% 20481		6,391		6,789
Government National Mortgage Assn. Pool #MA5263 3.50% 20481		5,107		5,462
Government National Mortgage Assn. Pool #MA5527 3.50% 20481		4,281		4,560
Government National Mortgage Assn. Pool #MA5019 3.50% 20481		660		708
Government National Mortgage Assn. Pool #MA5398 4.00% 20481		3,655		3,936
Government National Mortgage Assn. Pool #MA5528 4.00% 20481		3,518		3,788
Government National Mortgage Assn. Pool #MA5466 4.00% 20481		3,066		3,302
Government National Mortgage Assn. Pool #MA5264 4.00% 20481		1,424		1,530
Government National Mortgage Assn. Pool #MA5332 5.00% 20481		123		135
Government National Mortgage Assn. Pool #MA5876 4.00% 20491		116,251		124,366
Government National Mortgage Assn. Pool #MA5817 4.00% 20491		34,989		37,517
Government National Mortgage Assn. Pool #MA5877 4.50% 20491		18,420		19,923
Government National Mortgage Assn. Pool #MA5764 4.50% 20491		14,155		15,321
Government National Mortgage Assn. Pool #MA6092 4.50% 20491		2,652		2,860
Government National Mortgage Assn. Pool #MA6041 4.50% 20491		1,053		1,139
Government National Mortgage Assn. Pool #MA5754 4.50% 20491		129		137
Government National Mortgage Assn. Pool #MA5755 5.00% 20491		1,121		1,211
Government National Mortgage Assn. Pool #MA6042 5.00% 20491		273		299
Government National Mortgage Assn. Pool #MA7052 2.50% 20501		27,916		29,581
Government National Mortgage Assn. Pool #694836 5.661% 20591		1		1
Government National Mortgage Assn. Pool #725876 4.792% 20611		2		2
Government National Mortgage Assn. Pool #725879 4.821% 20611		3		3
Government National Mortgage Assn. Pool #710085 4.999% 20611		6		6
Government National Mortgage Assn. Pool #765136 5.00% 20611		2		2
Government National Mortgage Assn. Pool #721648 5.05% 20611		3		3
Government National Mortgage Assn. Pool #AC1008 4.563% 20631		2		2
Government National Mortgage Assn. Pool #AG8238 4.794% 20641		7		7
Government National Mortgage Assn. Pool #725893 5.20% 20641		2		2
Government National Mortgage Assn. Pool #AA7554 6.64% 20641		1		1
Government National Mortgage Assn. Pool #AE9612 4.952% 20651		11		12
Uniform Mortgage-Backed Security 1.50% 20361,5		2,785,316		2,860,517
Uniform Mortgage-Backed Security 1.50% 20361,5		2,059,423		2,116,071
Uniform Mortgage-Backed Security 2.00% 20361,5		1,882,125		1,965,657
Uniform Mortgage-Backed Security 2.00% 20361,5		1,300,000		1,356,224
Uniform Mortgage-Backed Security 3.00% 20361,5		21,762		22,838
Uniform Mortgage-Backed Security 2.00% 20511,5		1,966,458		2,035,666
Uniform Mortgage-Backed Security 2.00% 20511,5		797,353		826,755
Uniform Mortgage-Backed Security 2.50% 20511,5		583,102		612,667
Uniform Mortgage-Backed Security 2.50% 20511,5		445,277		468,532
Uniform Mortgage-Backed Security 3.00% 20511,5		436,190		457,384
Uniform Mortgage-Backed Security 3.50% 20511,5		288,009		304,843
Uniform Mortgage-Backed Security 4.00% 20511,5		90,920		97,235
Uniform Mortgage-Backed Security 4.50% 20511,5		20,976		22,762
				21,359,548

The Bond Fund of America 13

Bonds, notes & other debt instruments (continued)	Principal amount (000)		Value (000)
Mortgage-backed obligations (continued)
Collateralized mortgage-backed obligations (privately originated) 0.87%
Arroyo Mortgage Trust, Series 2018-1, Class A1, 3.763% 20481,3,4	$	14,381	$	14,621
Arroyo Mortgage Trust, Series 2020-1, Class A1A, 1.662% 20551,4		1,365		1,379
Bellemeade Re Ltd., Series 2019-3A, Class M1B, (1-month USD-LIBOR + 1.60%) 1.748% 20291,3,4		5,715		5,726
BRAVO Residential Funding Trust, Series 2020-RPL2, Class A1, 2.00% 20591,4		3,837		3,963
BRAVO Residential Funding Trust, Series 2020-RPL1, Class A1, 2.50% 20591,3,4		3,156		3,266
Bunker Hill Loan Depositary Trust, Series 2019-1, Class A1, 3.613% 20481,3,4		1,707		1,728
Bunker Hill Loan Depositary Trust, Series 2019-1, Class A3, 3.919% 20481,3,4		2,543		2,585
Cascade Funding Mortgage Trust, Series 2019-HB1, Class A, 2.386% 20291,3,4		5,309		5,338
Cascade Funding Mortgage Trust, Series 2019-HB1, Class M1, 2.572% 20291,3,4		3,590		3,609
Cascade Funding Mortgage Trust, Series 2019-HB1, Class M2, 2.863% 20291,3,4		874		880
Cascade Funding Mortgage Trust, Series 2019-HB1, Class M3, 3.257% 20291,3,4		448		444
Cascade Funding Mortgage Trust, Series 2020-HB4, Class A, 0.946% 20301,3,4		19,559		19,583
Cascade Funding Mortgage Trust, Series 2020-HB3, Class A, 2.812% 20301,3,4		7,672		7,749
Cascade Funding Mortgage Trust, Series 2020-HBA, Class A, 3.405% 20301,3,4		8,653		8,769
CFCRE Commercial Mortgage Trust, Series 2016-C7, Class A2, 3.585% 20541		2,000		2,238
Citigroup Mortgage Loan Trust Inc., Series 2020-EXP1, Class A1A, 1.804% 20601,3,4		4,141		4,173
Commercial Mortgage Trust, Series 2012-LC4, Class B, 4.934% 20441,3		2,300		2,235
Credit Suisse Mortgage Trust, Series 2020-NET, Class A, 2.257% 20371,4		6,770		7,032
Credit Suisse Mortgage Trust, Series 2019-RPL1, Class A1A, 3.65% 20581,3,4		1,553		1,690
CS First Boston Mortgage Securities Corp., Series 2002-30, Class IA1, 7.50% 20321		205		219
CS First Boston Mortgage Securities Corp., Series 2002-34, Class IA1, 7.50% 20321		78		82
CS First Boston Mortgage Securities Corp., Series 2003-21, Class VA1, 6.50% 20331		1,057		1,113
CS First Boston Mortgage Securities Corp., Series 2003-29, Class VA1, 7.00% 20331		336		351
Finance of America HECM Buyout, Series 2020-HB2, Class A, 1.71% 20301,3,4		14,944		15,067
Finance of America HECM Buyout, Series 2020-HB1, Class A, 2.012% 20301,3,4		7,108		7,163
Finance of America HECM Buyout, Series 2019-HB1, Class M1, 2.105% 20301,3,4		2,600		2,613
Finance of America HECM Buyout, Series 2020-HB1, Class M2, 2.389% 20301,3,4		900		882
Finance of America HECM Buyout, Series 2020-HB1, Class M3, 2.723% 20301,3,4		380		365
Finance of America Structured Securities Trust, Series 2019-JR1, Class A, 2.00% 20691,4		21,256		23,347
Finance of America Structured Securities Trust, Series 2019-JR2, Class A1, 2.00% 20691,4		20,630		22,383
Homeward Opportunities Fund Trust, Series 2018-1, Class A1, 3.766% 20481,3,4		10,734		10,817
JPMDB Commercial Mortgage Securities Trust, Series 2019-COR6, Class A4, 3.057% 20521		975		1,101
JPMorgan Mortgage Trust, Series 2020-INV1, Class A3, 3.50% 20501,3,4		5,604		5,840
Legacy Mortgage Asset Trust, Series 2019-GS5, Class A1, 3.20% 20591,3,4		6,066		6,133
Legacy Mortgage Asset Trust, Series 2019-GS2, Class A1, 3.75% 20591,3,4		7,305		7,335
Mello Warehouse Securitization Trust, Series 2019-2, Class A, (1-month USD-LIBOR + 0.75%) 0.898% 20521,3,4		62,022		62,110
Mello Warehouse Securitization Trust, Series 2019-1, Class A, 0.948% 20521,3,4		8,945		8,961
Mello Warehouse Securitization Trust, Series 2020-2, Class A, (1-month USD-LIBOR + 0.80%) 0.996% 20531,3,4		15,541		15,580
Mello Warehouse Securitization Trust, Series 2020-1, Class A, (1-month USD-LIBOR + 0.90%) 1.048% 20531,3,4		34,517		34,592
Mill City Mortgage Trust, Series 2018-1, Class A1, 3.25% 20621,3,4		1,837		1,903
Mortgage Repurchase Agreement Financing Trust, Series 2020-1, Class A1, (1-month USD-LIBOR + 2.00%) 2.149% 20221,3,4		29,196		29,264
Mortgage Repurchase Agreement Financing Trust, Series 2020-5, Class A1, (1-month USD-LIBOR + 1.00%) 1.149% 20231,3,4		38,698		38,996
Nationstar HECM Loan Trust, Series 2019-2A, Class A, 2.272% 20291,3,4		4,849		4,867
Nationstar HECM Loan Trust, Series 2019-1A, Class A, 2.651% 20291,3,4		1,670		1,675
New Residential Mortgage Loan Trust, Series 2019-2A, Class A1, 4.25% 20571,3,4		4,020		4,348
New York Mortgage Trust, Series 2020-SP1, Class A1, 3.962% 20601,4		24,186		24,368
One Market Plaza Trust, Series 2017-1MKT, Class A, 3.614% 20321,4		1,220		1,267
Onslow Bay Financial LLC, Series 2020-INV1, Class A5, 3.50% 20491,3,4		7,311		7,547
RMF Proprietary Issuance Trust, Series 2019-1, Class A, 2.75% 20631,3,4		7,080		7,125
Sequoia Mortgage Trust, Series 2018-CH1, Class A1, 4.00% 20481,3,4		2,491		2,561
Starwood Mortgage Residential Trust, Series 2019-IMC1, Class A1, 3.468% 20491,3,4		2,887		2,909
Starwood Mortgage Residential Trust, Series 2020-2, Class A1, 2.718% 20601,3,4		8,048		8,214
Station Place Securitization Trust, Series 2020-WL1, Class A, (1-month USD-LIBOR + 1.15%) 1.298% 20511,3,4		52,450		52,539
TBW Mortgage-backed Trust, Series 2007-2, Class A4B, (1-month USD-LIBOR + 0.42%) 0.568% 20371,3		8,682		7,226
TIF Funding II LLC, Series 2020-1A, Class A, 2.09% 20451,4		8,442		8,557
TIF Funding II LLC, Series 2020-1A, Class B, 3.82% 20451,4		1,804		1,829
Towd Point Mortgage Trust, Series 2016-2, Class A1A, 2.75% 20551,3,4		597		605
Towd Point Mortgage Trust, Series 2016-5, Class A1, 2.50% 20561,3,4		4,301		4,388

14 The Bond Fund of America

Bonds, notes & other debt instruments (continued)	Principal amount (000)		Value (000)
Mortgage-backed obligations (continued)
Collateralized mortgage-backed obligations (privately originated) (continued)
Towd Point Mortgage Trust, Series 2017-5, Class A1, 0.748% 20571,3,4	$	948	$	945
Towd Point Mortgage Trust, Series 2017-6, Class A1, 2.75% 20571,3,4		9,555		9,844
Towd Point Mortgage Trust, Series 2017-4, Class A1, 2.75% 20571,3,4		6,221		6,455
Towd Point Mortgage Trust, Series 2017-3, Class A1, 2.75% 20571,3,4		4,903		5,053
Towd Point Mortgage Trust, Series 2018-2, Class A1, 3.25% 20581,3,4		11,611		12,167
Towd Point Mortgage Trust, Series 2018-5, Class A1A, 3.25% 20581,3,4		3,450		3,614
Towd Point Mortgage Trust, Series 2020-4, Class A1, 1.75% 20601,4		38,830		39,799
				611,127
Commercial mortgage-backed securities 0.71%
Banc of America Commercial Mortgage Inc., Series 2015-UBS7, Class A4, 3.705% 20481		750		834
Banc of America Commercial Mortgage Inc., Series 2017-BNK3, Class A4, 3.574% 20501		115		131
Bank Commercial Mortgage Trust, Series 2019-BN17, Class A4, 3.714% 20521		255		299
Bank Commercial Mortgage Trust, Series 2019-BN16, Class A4, 4.005% 20521		3,920		4,658
Bank Commercial Mortgage Trust, Series 2017-BNK9, Class A4, 3.538% 20541		135		155
Bank Commercial Mortgage Trust, Series 2017-BNK7, Class A5, 3.435% 20601		3,750		4,283
Bank Commercial Mortgage Trust, Series 2019-BN19, Class A3, 3.183% 20611		2,546		2,891
Bank Commercial Mortgage Trust, Series 2018-BN10, Class A4, 3.428% 20611		330		374
Bank Commercial Mortgage Trust, Series 2018-BN10, Class A5, 3.688% 20611		2,510		2,906
Bank Commercial Mortgage Trust, Series 2019-BN12, Class A3, 3.99% 20611		500		587
Bank Commercial Mortgage Trust, Series 2018-BN15, Class A3, 4.138% 20611		500		588
Bank Commercial Mortgage Trust, Series 2018-BN13, Class A5, 4.217% 20611,3		250		298
Bank Commercial Mortgage Trust, Series 2018-BN12, Class A4, 4.255% 20611,3		11,116		13,264
Bank Commercial Mortgage Trust, Series 2020-BN26, Class A4, 2.403% 20631		1,654		1,780
Barclays Commercial Mortgage Securities LLC, Series 2017-DELC, Class A, 1.009% 20361,3,4		1,000		991
Benchmark Mortgage Trust, Series 2018-B2, Class A4, 3.615% 20511		3,475		3,981
Benchmark Mortgage Trust, Series 2018-B3, Class A5, 4.025% 20511		5,890		6,928
Benchmark Mortgage Trust, Series 2018-B4, Class A5, 4.121% 20511,3		90		107
Benchmark Mortgage Trust, Series 2018-B8, Class A5, 4.232% 20521		6,351		7,640
Benchmark Mortgage Trust, Series 2020-B17, Class A5, 2.289% 20531		944		1,010
Benchmark Mortgage Trust, Series 2018-B7, Class A3, 4.241% 20531		1,000		1,179
Benchmark Mortgage Trust, Series 2018-B7, Class A4, 4.51% 20531,3		6,954		8,507
Benchmark Mortgage Trust, Series 2019-B13, Class A4, 2.952% 20571		730		818
Benchmark Mortgage Trust, Series 2019-B14, Class AS, 3.049% 20621		5,000		5,643
Benchmark Mortgage Trust, Series 2019-B10, Class A3, 3.455% 20621		500		572
BX Trust, Series 2018-GW, Class A, 0.959% 20351,3,4		2,684		2,646
BX Trust, Series 2020-VIV4, Class A, 2.843% 20441,4		7,000		7,313
CD Commercial Mortgage Trust, Series 2017-CD6, Class A5, 3.456% 20501		5,576		6,357
Citigroup Commercial Mortgage Trust, Series 2012-GC8, Class B, 4.285% 20451,4		500		508
Citigroup Commercial Mortgage Trust, Series 2014-GC21, Class B, 4.328% 20471,3		3,800		4,089
Citigroup Commercial Mortgage Trust, Series 2015-GC27, Class A4, 2.878% 20481		1,095		1,157
Citigroup Commercial Mortgage Trust, Series 2016-GC37, Class A4, 3.314% 20491		2,740		3,054
Citigroup Commercial Mortgage Trust, Series 2016-C1, Class AS, 3.514% 20491		600		664
Citigroup Commercial Mortgage Trust, Series 2016-GC36, Class A5, 3.616% 20491		1,525		1,719
Citigroup Commercial Mortgage Trust, Series 2017-B1, Class A3, 3.197% 20501		6,250		7,007
Citigroup Commercial Mortgage Trust, Series 2017-C4, Class A4, 3.471% 20501		2,930		3,344
Citigroup Commercial Mortgage Trust, Series 2019-GC41, Class AA, 2.62% 20561		200		219
Citigroup Commercial Mortgage Trust, Series 2015-GC33, Class A3, 3.515% 20581		4,920		5,323
Commercial Mortgage Trust, Series 2012-CRS, Class A4, 2.771% 20451		1,871		1,936
Commercial Mortgage Trust, Series 2012-CR3, Class AM, 3.416% 20451,4		700		711
Commercial Mortgage Trust, Series 2012-CR3, Class B, 3.922% 20451,4		1,015		1,004
Commercial Mortgage Trust, Series 2012-CR5, Class D, 4.32% 20451,3,4		2,000		1,927
Commercial Mortgage Trust, Series 2012-CR2, Class B, 4.393% 20451		700		718
Commercial Mortgage Trust, Series 2012-CR3, Class C, 4.584% 20451,3,4		500		446
Commercial Mortgage Trust, Series 2013-CR6, Class B, 3.397% 20461,4		1,000		1,024
Commercial Mortgage Trust, Series 2013-CRE7, Class B, 3.613% 20461,4		2,000		2,076
Commercial Mortgage Trust, Series 2013-CR7, Class C, 4.069% 20461,3,4		2,743		2,701
Commercial Mortgage Trust, Series 2013-LC13, Class B, 5.009% 20461,3,4		830		877
Commercial Mortgage Trust, Series 2014-UBS4, Class A5, 3.694% 20471		910		997
Commercial Mortgage Trust, Series 2014-CR16, Class A3, 3.775% 20471		1,997		2,149
Commercial Mortgage Trust, Series 2014-LC17, Class A5, 3.917% 20471		886		980
Commercial Mortgage Trust, Series 2014-CR15, Class A4, 4.074% 20471,3		3,000		3,297
Commercial Mortgage Trust, Series 2014-CR19, Class AM, 4.08% 20471		750		825
Commercial Mortgage Trust, Series 2014-LC15, Class AM, 4.198% 20471		850		935
Commercial Mortgage Trust, Series 2014-CR16, Class AM, 4.278% 20471		1,070		1,174
Commercial Mortgage Trust, Series 2014-LC17, Class B, 4.49% 20471,3		200		220

The Bond Fund of America 15

Bonds, notes & other debt instruments (continued)	Principal amount (000)		Value (000)
Mortgage-backed obligations (continued)
Commercial mortgage-backed securities (continued)
Commercial Mortgage Trust, Series 2014-UBS4, Class B, 4.701% 20471	$	1,000	$	1,094
Commercial Mortgage Trust, Series 2015-CR22, Class B, 3.926% 20481,3		5,250		5,670
Commercial Mortgage Trust, Series 2016-COR1, Class A4, 3.091% 20491		4,000		4,380
Commercial Mortgage Trust, Series 2017-COR2, Class A3, 3.51% 20501		2,261		2,575
Commercial Mortgage Trust, Series 2015-PC1, Class AM, 4.29% 20501,3		1,250		1,402
Commercial Mortgage Trust, Series 2013-CR11, Class B, 5.112% 20501,3		500		544
CSAIL Commercial Mortgage Trust, Series 2015-C4, Class C, 4.563% 20481,3		556		574
CSAIL Commercial Mortgage Trust, Series 2015-C1, Class B, 4.044% 20501,3		700		741
DBUBS Mortgage Trust, Series 2011-LC2A, Class A1, 4.537% 20441,4		7,798		7,839
DBUBS Mortgage Trust, Series 2011-LC3A, Class B, 5.335% 20441,3,4		6,500		6,558
Deutsche Bank Commercial Mortgage Trust, Series 2016-C1, Class AM, 3.539% 20491		500		548
Grace Mortgage Trust, Series 2020-GRCE, Class A, 2.347% 20401,4		10,403		11,035
GS Mortgage Securities Trust, Series 2018-HULA, Class A, 1.079% 20251,3,4		973		957
GS Mortgage Securities Trust, Series 2019-BOCA, Class A, (1-month USD-LIBOR + 1.20%) 1.359% 20381,3,4		1,000		996
GS Mortgage Securities Trust, Series 2011-GC5, Class B, 5.555% 20441,3,4		1,244		1,241
GS Mortgage Securities Trust, Series 2012-GCJ7, Class A4, 3.377% 20451		613		621
GS Mortgage Securities Trust, Series 2013-GC12, Class A4, 3.135% 20461		1,250		1,316
GS Mortgage Securities Trust, Series 2013-GC10, Class B, 3.682% 20461,4		4,500		4,652
GS Mortgage Securities Trust, Series 2013-GC12, Class B, 3.777% 20461,3		2,000		2,096
GS Mortgage Securities Trust, Series 2014-GC18, Class B, 4.885% 20471,3		2,500		2,437
GS Mortgage Securities Trust, Series 2020-GS1, Class A2, 3.47% 20481		3,000		3,246
GS Mortgage Securities Trust, Series 2016-GS4, Class A4, 3.442% 20491,3		2,654		2,975
GS Mortgage Securities Trust, Series 2017-GS7, Class A3, 3.167% 20501		855		939
GS Mortgage Securities Trust, Series 2017-GS7, Class A4, 3.43% 20501		1,000		1,143
GS Mortgage Securities Trust, Series 2019-GC38, Class A4, 3.968% 20521		255		303
GS Mortgage Securities Trust, Series 2020-GC47, Class A5, 2.377% 20531		9,983		10,764
GS Mortgage Securities Trust, Series 2020-GC45, Class A5, 2.911% 20531		174		195
Hawaii Hotel Trust, Series 2019-MAUI, Class A, (1-month USD-LIBOR + 1.15%) 1.309% 20381,3,4		7,000		6,965
JPMBB Commercial Mortgage Securities Trust, Series 2014-C19, Class A4, 3.997% 20471		2,450		2,686
JPMBB Commercial Mortgage Securities Trust, Series 2014-C18, Class A5, 4.079% 20471		8,195		8,986
JPMBB Commercial Mortgage Securities Trust, Series 2014-C19, Class B, 4.394% 20471,3		600		638
JPMBB Commercial Mortgage Securities Trust, Series 2014-C19, Class D, 4.676% 20471,3,4		2,500		2,287
JPMBB Commercial Mortgage Securities Trust, Series 2014-C26, Class B, 3.951% 20481		3,500		3,698
JPMBB Commercial Mortgage Securities Trust, Series 2015-C-32, Class AS, 3.984% 20481		1,200		1,323
JPMBB Commercial Mortgage Securities Trust, Series 2015-C-31, Class C, 4.619% 20481,3		600		611
JPMDB Commercial Mortgage Securities Trust, Series 2017-C7, Class A5, 3.409% 20501		1,683		1,910
JPMDB Commercial Mortgage Securities Trust, Series 2017-C5, Class A5, 3.694% 20501		1,600		1,831
JPMorgan Chase Commercial Mortgage Securities Corp., Series 2013-C10, Class B, 3.674% 20471,3		2,600		2,694
JPMorgan Chase Commercial Mortgage Securities Corp., Series 2013-C10, Class C, 4.11% 20471,3		750		765
JPMorgan Chase Commercial Mortgage Securities Trust, Series 2018-BCON, Class A, 3.735% 20311,4		3,955		4,119
JPMorgan Chase Commercial Mortgage Securities Trust, Series 2013-C16, Class A4, 4.166% 20461		1,020		1,109
JPMorgan Chase Commercial Mortgage Securities Trust, Series 2011-C5, Class AS, 5.424% 20461,3,4		365		373
JPMorgan Chase Commercial Mortgage Securities Trust, Series 2013-C10, Class AS, 3.372% 20471		2,500		2,614
JPMorgan Chase Commercial Mortgage Securities Trust, Series 2016-JP4, Class A4, 3.648% 20491,3		5,095		5,812
L.A. Arena Funding, LLC, Series 1, Class A, 7.656% 20261,4		4,874		4,870
Manhattan West, Series 2020-OMW, Class A, 2.13% 20391,4		3,126		3,295
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2013-C9, Class A4, 3.102% 20461		2,175		2,284
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2013-C9, Class B, 3.708% 20461,3		1,511		1,561
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2013-C13, Class A-4, 4.039% 20461		1,934		2,106
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2013-C7, Class D, 4.236% 20461,3,4		2,700		1,666

16 The Bond Fund of America

Bonds, notes & other debt instruments (continued)	Principal amount (000)		Value (000)
Mortgage-backed obligations (continued)
Commercial mortgage-backed securities (continued)
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2013-C13, Class B, 4.608% 20461,3	$	1,000	$	1,066
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2014-C16, Class A4, 3.60% 20471		1,000		1,066
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2014-C17, Class A5, 3.741% 20471		5,096		5,561
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C27, Class A4, 3.753% 20471		525		590
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2014-C19, Class B, 4.00% 20471,3		2,000		2,151
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C22, Class A4, 4.051% 20471		250		274
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C22, Class A4, 3.306% 20481		1,870		2,037
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C25, Class A-4, 3.372% 20481		1,300		1,434
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2016-C30, Class A4, 2.60% 20491		250		270
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2016-C31, Class A-S, 3.102% 20491		3,000		3,327
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2016-C32, Class A4, 3.72% 20491		5,280		6,064
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C23, Class A3, 3.451% 20501		559		610
Morgan Stanley Capital I Trust, Series 2014-CPT, Class A, 3.35% 20291,4		6,885		6,935
Morgan Stanley Capital I Trust, Series 2011-C2, Class A4, 4.661% 20441,4		4,045		4,072
Morgan Stanley Capital I Trust, Series 2011-C1, Class E, 5.563% 20471,3,4		2,000		1,998
Morgan Stanley Capital I Trust, Series 2015-UBS8, Class AS, 4.114% 20481		1,730		1,929
Morgan Stanley Capital I Trust, Series 2016-UBS9, Class C, 4.608% 20491,3		567		557
MRA Issuance Trust, Series 2020-10, Class A, (1-month USD-LIBOR + 1.75%) 2.25% 20211,3,4,6		104,386		104,386
Wells Fargo Commercial Mortgage Trust, Series 2013-LC12, Class B, 4.275% 20461,3		1,200		1,153
Wells Fargo Commercial Mortgage Trust, Series 2014-LC18, Class A5, 3.405% 20471		290		319
Wells Fargo Commercial Mortgage Trust, Series 2015-C28, Class A4, 3.54% 20481		4,380		4,875
Wells Fargo Commercial Mortgage Trust, Series 2015-C31, Class A4, 3.695% 20481		1,400		1,580
Wells Fargo Commercial Mortgage Trust, Series 2015-SG1, Class A4, 3.789% 20481		7,091		7,898
Wells Fargo Commercial Mortgage Trust, Series 2015-P2, Class A4, 3.809% 20481		1,137		1,295
Wells Fargo Commercial Mortgage Trust, Series 2015-C28, Class C, 4.094% 20481,3		585		597
Wells Fargo Commercial Mortgage Trust, Series 2016-BNK1, Class B, 2.967% 20491		865		889
Wells Fargo Commercial Mortgage Trust, Series 2016-C34, Class A4, 3.096% 20491		6,190		6,690
Wells Fargo Commercial Mortgage Trust, Series 2016-C34, Class AS, 3.484% 20491		380		417
Wells Fargo Commercial Mortgage Trust, Series 2016-C37, Class A5, 3.794% 20491		6,370		7,323
Wells Fargo Commercial Mortgage Trust, Series 2017-C40, Class A4, 3.581% 20501		1,154		1,321
Wells Fargo Commercial Mortgage Trust, Series 2014-LC16, Class A5, 3.817% 20501		2,302		2,502
Wells Fargo Commercial Mortgage Trust, Series 2018-C46, Class A3, 3.888% 20511		6,500		7,570
Wells Fargo Commercial Mortgage Trust, Series 2019-C54, Class A4, 3.146% 20521		3,898		4,415
Wells Fargo Commercial Mortgage Trust, Series 2015-LC22, Class C, 4.537% 20581,3		1,000		1,039
Wells Fargo Commercial Mortgage Trust, Series 2016-C36, Class A4, 3.065% 20591		3,853		4,197
Wells Fargo Commercial Mortgage Trust, Series 2016-C33, Class A4, 3.426% 20591		1,320		1,481
Wells Fargo Commercial Mortgage Trust, Series 2016-NXS5, Class AS, 3.988% 20591		600		673
Wells Fargo Commercial Mortgage Trust, Series 2017-RC1, Class A4, 3.631% 20601		510		583
WF-RBS Commercial Mortgage Trust, Series 2011-C5, Class B, 5.656% 20441,3,4		1,500		1,530
WF-RBS Commercial Mortgage Trust, Series 2013-C11, Class AS, 3.311% 20451		255		266
WF-RBS Commercial Mortgage Trust, Series 2013-C13, Class B, 3.553% 20451		500		522
WF-RBS Commercial Mortgage Trust, Series 2013-C11, Class B, 3.714% 20451,3		1,000		1,042
WF-RBS Commercial Mortgage Trust, Series 2012-C8, Class B, 4.311% 20451		5,500		5,694
WF-RBS Commercial Mortgage Trust, Series 2012-C6, Class B, 4.697% 20451		415		428
WF-RBS Commercial Mortgage Trust, Series 2013-C16, Class B, 5.017% 20461,3		1,450		1,514
WF-RBS Commercial Mortgage Trust, Series 2014-C19, Class B, 4.723% 20471,3		2,000		2,176
WF-RBS Commercial Mortgage Trust, Series 2013-C12, Class B, 3.863% 20481,3		2,000		2,098
WF-RBS Commercial Mortgage Trust, Series 2014-C22, Class A4, 3.488% 20571		2,038		2,194
				497,473
Total mortgage-backed obligations				22,468,148

The Bond Fund of America 17

Bonds, notes & other debt instruments (continued)	Principal amount (000)		Value (000)
Corporate bonds, notes & loans 30.73%
Financials 6.61%
ACE INA Holdings Inc. 2.875% 2022	$	1,585	$	1,653
ACE INA Holdings Inc. 3.35% 2026		100		113
ACE INA Holdings Inc. 4.35% 2045		1,465		1,987
AerCap Holdings NV 6.50% 2025		4,854		5,806
Allstate Corp. 0.75% 2025		1,839		1,850
Allstate Corp. 1.45% 2030		8,000		7,987
Allstate Corp. 3.85% 2049		9,000		11,315
Ally Financial Inc. 5.125% 2024		3,863		4,456
Ally Financial Inc. 5.80% 2025		6,400		7,606
Ally Financial Inc. 8.00% 2031		23,019		32,797
Ally Financial Inc. 8.00% 2031		16,630		24,446
American Express Co. 3.00% 2024		20,000		21,852
American International Group, Inc. 2.50% 2025		8,500		9,141
American International Group, Inc. 3.90% 2026		2,625		2,994
American International Group, Inc. 3.40% 2030		35,370		40,535
American International Group, Inc. 4.80% 2045		1,150		1,522
American International Group, Inc. 4.375% 2050		36,372		47,627
Australia & New Zealand Banking Group Ltd. 2.625% 2022		15,000		15,495
AXA Equitable Holdings, Inc. 3.90% 2023		5,575		6,000
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)4,7		1,850		1,861
Banco Santander México, SA, Institución de Banca Múltiple, Grupo Financiero Santander México 5.375% 20254		7,500		8,626
Banco Santander, SA 2.749% 2030		8,200		8,470
Bangkok Bank PCL 3.733% 2034 (UST Yield Curve Rate T Note Constant Maturity 5-year + 1.90% on 9/25/2029)7		16,965		17,697
Bank of America Corp. 2.738% 2022 (3-month USD-LIBOR + 0.37% on 1/23/2021)7		21,000		21,026
Bank of America Corp. 1.197% 2026 (USD-SOFR + 1.01% on 10/24/2025)7		12,000		12,163
Bank of America Corp. 3.419% 2028 (3-month USD-LIBOR + 1.04% on 12/20/2027)7		14,865		16,818
Bank of America Corp. 1.898% 2031 (USD-SOFR + 1.53% on 7/23/2030)7		138,312		139,783
Bank of America Corp. 1.922% 2031 (USD-SOFR + 1.37% on 10/24/2030)7		105,603		107,031
Bank of America Corp. 2.676% 2041 (USD-SOFR + 1.93% on 6/19/2040)7		6,000		6,261
Bank of Montreal, junior subordinated, 3.803%  (USD Semi Annual 30/360 (vs. 3-month USD-LIBOR) + 1.432% on 12/15/2032)4,7		1,950		2,211
Bank of Nova Scotia 2.50% 2021		17,500		17,503
Barclays Bank PLC 3.65% 2025		2,000		2,206
Barclays Bank PLC 4.95% 2047		5,000		6,828
Berkshire Hathaway Finance Corp. 4.20% 2048		21,490		28,389
Berkshire Hathaway Finance Corp. 4.25% 2049		3,000		3,985
Berkshire Hathaway Inc. 3.125% 2026		4,100		4,582
Berkshire Hathaway Inc. 4.50% 2043		1,500		2,066
BNP Paribas 3.50% 20234		27,000		28,748
BNP Paribas 3.80% 20244		30,525		33,313
BNP Paribas 2.819% 2025 (3-month USD-LIBOR + 1.111% on 11/19/2024)4,7		5,050		5,397
BNP Paribas 3.375% 20254		32,250		35,384
BNP Paribas 2.219% 2026 (USD-SOFR + 2.074% on 6/9/2025)4,7		27,900		29,214
Capital One Financial Corp. 4.25% 2025		17,500		19,991
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		4,186
China CITIC Bank International Ltd. 4.625% 2029  (UST Yield Curve Rate T Note Constant Maturity 5-year + 2.25% on 2/28/2024)7		12,500		13,271
China Construction Bank Corp. 2.45% 2030 (UST Yield Curve Rate T Note Constant Maturity 5-year + 2.15% on 6/24/2025)7		19,600		20,102
Chubb INA Holdings Inc. 1.375% 2030		4,000		3,996
CIT Group Inc. 3.929% 2024 (USD-SOFR + 3.827% on 6/19/2023)7		35,287		37,360
CIT Group Inc. 5.25% 2025		15,651		17,793
Citigroup Inc. 2.35% 2021		16,500		16,693
Citigroup Inc. 2.70% 2021		13,500		13,578
Citigroup Inc. 2.90% 2021		13,500		13,793
Citigroup Inc. 4.60% 2026		4,175		4,897
Citigroup Inc. 3.668% 2028 (3-month USD-LIBOR + 1.39% on 7/24/2027)7		2,225		2,523
Citigroup Inc. 2.976% 2030 (USD-SOFR + 1.422% on 11/5/2029)7		9,915		10,922
Citigroup Inc. 2.572% 2031 (USD-SOFR + 2.107% on 6/3/2030)7		105,724		112,719
Citigroup Inc. 4.412% 2031 (USD-SOFR + 3.914% on 3/31/2030)7		26,850		32,561
Citigroup Inc., Series A, junior subordinated, 5.95% (3-month USD-LIBOR + 4.068% on 1/30/2023)7		13,195		13,855

18 The Bond Fund of America

Bonds, notes & other debt instruments (continued)	Principal amount (000)		Value (000)
Corporate bonds, notes & loans (continued)
Financials (continued)
Commonwealth Bank of Australia 3.61% 2034 (UST Yield Curve Rate T Note Constant Maturity 5-year + 2.05% on 9/12/2029)4,7	$	14,375	$	15,814
Cooperatieve Rabobank UA 2.75% 2023		17,000		17,837
Cooperatieve Rabobank UA 2.625% 20244		10,900		11,666
Credit Acceptance Corp. 6.625% 2026		1,488		1,590
Crédit Agricole SA 3.375% 20224		10,250		10,565
Crédit Agricole SA 3.75% 20234		21,000		22,557
Crédit Agricole SA 3.25% 20244		6,200		6,732
Crédit Agricole SA 4.375% 20254		10,030		11,272
Crédit Agricole SA 1.907% 2026 (USD-SOFR + 1.676% on 6/16/2025)4,7		15,750		16,350
Credit Suisse AG (New York Branch) 2.95% 2025		7,425		8,148
Credit Suisse Group AG 3.45% 2021		11,250		11,353
Credit Suisse Group AG 2.997% 2023 (3-month USD-LIBOR + 1.20% on 12/14/2022)4,7		20,250		21,186
Credit Suisse Group AG 3.80% 2023		29,264		31,534
Credit Suisse Group AG 2.593% 2025 (USD-SOFR + 1.56% on 9/11/2024)4,7		3,100		3,263
Credit Suisse Group AG 2.193% 2026 (USD-SOFR + 2.044% on 6/5/2025)4,7		14,950		15,637
Credit Suisse Group AG 3.869% 2029 (3-month USD-LIBOR + 1.41% on 1/12/2028)4,7		8,385		9,505
Credit Suisse Group AG 4.194% 2031 (USD-SOFR + 3.73% on 4/1/2030)4,7		60,419		71,113
Danske Bank AS 2.00% 20214		13,010		13,158
Danske Bank AS 2.70% 20224		13,475		13,818
Danske Bank AS 3.875% 20234		15,165		16,350
Deutsche Bank AG 3.15% 2021		33,827		33,865
Deutsche Bank AG 3.375% 2021		2,100		2,120
Deutsche Bank AG 4.25% 2021		36,725		36,825
Deutsche Bank AG 4.25% 2021		850		872
Deutsche Bank AG 3.30% 2022		4,575		4,774
Deutsche Bank AG 5.00% 2022		4,675		4,889
Deutsche Bank AG 3.95% 2023		9,097		9,671
Deutsche Bank AG 2.222% 2024 (USD-SOFR + 2.159% on 9/18/2023)7		89,334		91,955
Deutsche Bank AG 3.70% 2024		15,250		16,421
Deutsche Bank AG 3.70% 2024		4,603		4,966
Deutsche Bank AG 3.961% 2025 (USD-SOFR + 2.581% on 11/26/2024)7		42,257		46,214
Deutsche Bank AG 2.129% 2026 (USD-SOFR + 1.87% on 11/24/2025)7		95,890		98,116
Deutsche Bank AG 4.10% 2026		16,415		18,323
Deutsche Bank AG 4.10% 2026		4,936		5,474
Deutsche Bank AG 3.547% 2031 (USD-SOFR + 3.043% on 9/18/2030)7		29,375		31,921
DNB Bank ASA 2.375% 20214		22,700		22,905
Five Corners Funding Trust II 2.85% 20304		4,300		4,758
Ford Motor Credit Co. 3.375% 2025		9,000		9,228
GE Capital Funding, LLC 4.05% 20274		29,145		33,357
GE Capital Funding, LLC 4.40% 20304		64,580		76,148
Goldman Sachs Group, Inc. 2.905% 2023 (3-month USD-LIBOR + 0.99% on 7/24/2022)7		14,747		15,321
Goldman Sachs Group, Inc. 3.50% 2025		14,889		16,570
Goldman Sachs Group, Inc. 1.093% 2026 (USD-SOFR + 0.789% on 12/9/2025)7		34,173		34,557
Goldman Sachs Group, Inc. (3-month USD-LIBOR + 1.17%) 1.391% 20263		5,975		6,095
Goldman Sachs Group, Inc. 3.814% 2029 (3-month USD-LIBOR + 1.158% on 4/23/2028)7		5,000		5,795
Goldman Sachs Group, Inc. 2.60% 2030		16,925		18,226
Goldman Sachs Group, Inc. 3.80% 2030		9,419		11,086
Groupe BPCE SA 2.75% 20234		8,600		8,996
Groupe BPCE SA 5.70% 20234		31,675		35,872
Groupe BPCE SA 4.625% 20244		400		448
Groupe BPCE SA 5.15% 20244		27,058		30,838
Groupe BPCE SA 1.652% 2026 (USD-SOFR + 1.52% on 10/6/2025)4,7		38,255		39,184
Hartford Financial Services Group, Inc. 2.80% 2029		10,850		11,803
Hartford Financial Services Group, Inc. 3.60% 2049		1,750		2,056
HSBC Holdings PLC 2.633% 2025 (3-month USD-LIBOR + 1.14% on 11/7/2024)7		18,500		19,698
HSBC Holdings PLC 2.099% 2026 (USD-SOFR + 1.929% on 6/4/2025)7		43,810		45,564
HSBC Holdings PLC 3.973% 2030 (3-month USD-LIBOR + 1.61% on 5/22/2029)7		37,900		43,838
HSBC Holdings PLC 4.95% 2030		3,150		3,944
HSBC Holdings PLC 2.357% 2031 (USD-SOFR + 1.947% on 8/18/2030)7		25,355		26,228
HSBC Holdings PLC 2.848% 2031 (USD-SOFR + 2.387% on 6/4/2030)7		19,844		21,344
HSBK (Europe) BV 7.25% 20214		3,710		3,761
Icahn Enterprises Finance Corp. 6.25% 2022		5,940		5,968
Intercontinental Exchange, Inc. 2.65% 2040		5,700		5,868
Intercontinental Exchange, Inc. 3.00% 2060		9,875		10,370
Intesa Sanpaolo SpA 3.125% 20224		17,025		17,636

The Bond Fund of America 19

Bonds, notes & other debt instruments (continued)	Principal amount (000)		Value (000)
Corporate bonds, notes & loans (continued)
Financials (continued)
Intesa Sanpaolo SpA 3.375% 20234	$	42,466	$	44,492
Intesa Sanpaolo SpA 3.25% 20244		7,560		8,081
Intesa Sanpaolo SpA 5.017% 20244		116,668		127,685
Intesa Sanpaolo SpA 5.71% 20264		24,105		27,602
Intesa Sanpaolo SpA 3.875% 20274		10,275		11,289
Intesa Sanpaolo SpA 3.875% 20284		4,974		5,496
Intesa Sanpaolo SpA 4.00% 20294		3,000		3,385
JPMorgan Chase & Co. 4.023% 2024 (3-month USD-LIBOR + 1.00% on 12/5/2024)7		5,000		5,510
JPMorgan Chase & Co. 2.301% 2025 (USD-SOFR + 1.16% on 10/15/2024)7		61,584		65,397
JPMorgan Chase & Co. 1.045% 2026 (USD-SOFR + 0.80% on 11/19/2025)7		45,000		45,520
JPMorgan Chase & Co. 2.005% 2026 (USD-SOFR + 1.585% on 3/13/2025)7		22,000		23,137
JPMorgan Chase & Co. 2.182% 2028 (USD-SOFR + 1.89% on 6/1/2027)7		12,175		12,934
JPMorgan Chase & Co. 2.522% 2031 (USD-SOFR + 2.04% on 4/22/2030)7		38,283		41,178
JPMorgan Chase & Co. 3.109% 2051 (USD-SOFR + 3.109% on 4/22/2050)7		10,057		11,198
Kasikornbank PC HK 3.343% 2031 (UST Yield Curve Rate T Note Constant Maturity 5-year + 1.70% on 10/2/2026)7		3,295		3,390
Lloyds Banking Group PLC 2.907% 2023 (3-month USD-LIBOR + 0.81% on 11/7/2022)7		16,500		17,245
Lloyds Banking Group PLC 4.05% 2023		14,200		15,527
Lloyds Banking Group PLC 3.87% 2025 (UST Yield Curve Rate T Note Constant Maturity 1-year + 3.50% on 7/9/2024)7		13,460		14,856
Lloyds Banking Group PLC 4.582% 2025		5,143		5,889
Lloyds Banking Group PLC 2.438% 2026 (UST Yield Curve Rate T Note Constant Maturity 1-year + 1.00% on 2/5/2025)7		13,875		14,664
Lloyds Banking Group PLC 4.375% 2028		2,560		3,047
Lloyds Banking Group PLC 4.55% 2028		3,500		4,224
Marsh & McLennan Companies, Inc. 3.875% 2024		17,120		18,900
Marsh & McLennan Companies, Inc. 4.375% 2029		2,460		2,996
Marsh & McLennan Companies, Inc. 2.25% 2030		3,506		3,716
Marsh & McLennan Companies, Inc. 4.75% 2039		750		1,010
Marsh & McLennan Companies, Inc. 4.90% 2049		5,250		7,617
MetLife Capital Trust IV, junior subordinated, 7.875% 2067 (3-month USD-LIBOR + 3.96% on 12/1/2037)4,7		100		141
MetLife, Inc. 3.60% 2025		100		113
MetLife, Inc. 4.55% 2030		2,000		2,502
MetLife, Inc. 4.60% 2046		800		1,104
Metropolitan Life Global Funding I 2.40% 20214		18,638		18,642
Metropolitan Life Global Funding I 3.45% 20214		1,500		1,536
Metropolitan Life Global Funding I 2.40% 20224		5,965		6,145
Metropolitan Life Global Funding I 3.375% 20224		3,000		3,090
Metropolitan Life Global Funding I 3.60% 20244		3,000		3,269
Metropolitan Life Global Funding I 0.95% 20254		5,007		5,076
Metropolitan Life Global Funding I 3.45% 20264		2,315		2,644
Metropolitan Life Global Funding I 3.00% 20274		2,500		2,793
Metropolitan Life Global Funding I 3.05% 20294		5,000		5,633
Mitsubishi UFJ Financial Group, Inc. 2.19% 2021		7,451		7,549
Mitsubishi UFJ Financial Group, Inc. 2.665% 2022		16,000		16,563
Mitsubishi UFJ Financial Group, Inc. 2.998% 2022		9,825		10,121
Mitsubishi UFJ Financial Group, Inc. 2.801% 2024		4,600		4,935
Mizuho Financial Group, Inc. 0.849% 2024 (3-month USD-LIBOR + 0.61% on 9/8/2023)7		15,800		15,896
Mizuho Financial Group, Ltd. 3.549% 2023		17,000		18,111
Morgan Stanley 2.50% 2021		14,300		14,389
Morgan Stanley 2.75% 2022		13,054		13,484
Morgan Stanley 3.125% 2023		10,000		10,556
Morgan Stanley 3.737% 2024 (3-month USD-LIBOR + 0.847% on 4/24/2023)7		57,500		61,886
Morgan Stanley 2.72% 2025 (USD-SOFR + 1.152% on 7/22/2024)7		12,800		13,695
Morgan Stanley 0.985% 2026 (USD-SOFR + 0.72% on 12/10/2025)7		88,960		89,658
Morgan Stanley 2.188% 2026 (USD-SOFR + 1.99% on 4/28/2025)7		14,000		14,797
Morgan Stanley 2.699% 2031 (USD-SOFR + 1.143% on 1/22/2030)7		5,000		5,431
Morgan Stanley 1.794% 2032 (USD-SOFR + 1.034% on 2/13/2031)7		36,790		37,029
MSCI Inc. 3.625% 20304		16,200		16,957
National Australia Bank Ltd. 2.50% 2022		15,500		15,979
National Australia Bank Ltd. 2.875% 2023		13,200		13,962
National Australia Bank Ltd. 2.332% 20304		5,000		5,091
Nationwide Building Society 3.766% 2024 (3-month USD-LIBOR + 1.064% on 3/8/2023)4,7		5,000		5,326
Nationwide Building Society 4.363% 2024 (3-month USD-LIBOR + 1.392% on 8/1/2023)4,7		33,400		36,319

20 The Bond Fund of America

Bonds, notes & other debt instruments (continued)	Principal amount (000)		Value (000)
Corporate bonds, notes & loans (continued)
Financials (continued)
Nationwide Building Society 4.125% 2032 (5-year USD-ICE Swap + 1.849% on 10/18/2027)4,7	$	3,000	$	3,283
Navient Corp. 5.50% 2023		7,000		7,337
Navient Corp. 5.875% 2024		1,000		1,065
Navient Corp. 6.75% 2025		2,500		2,722
Navient Corp. 5.00% 2027		6,250		6,313
New York Life Global Funding 1.70% 20214		30,500		30,808
New York Life Global Funding 2.00% 20214		700		703
New York Life Global Funding 2.25% 20224		10,195		10,512
New York Life Global Funding 0.95% 20254		1,403		1,423
New York Life Global Funding 3.00% 20284		2,250		2,513
New York Life Global Funding 1.20% 20304		14,732		14,298
New York Life Insurance Company 3.75% 20504		20,047		24,004
Nuveen, LLC 4.00% 20284		1,515		1,812
OneMain Holdings, Inc. 7.125% 2026		7,800		9,233
Oversea-Chinese Banking Corp. Ltd. 1.832% 2030 (UST Yield Curve Rate T Note Constant Maturity 5-year + 1.58% on 9/10/2025)4,7		7,786		7,916
PNC Bank 3.50% 2023		17,840		19,163
PNC Financial Services Group, Inc. 3.50% 2024		11,700		12,757
PNC Financial Services Group, Inc., Series O, junior subordinated, 6.75% (3-month USD-LIBOR + 3.678% on 8/1/2021)7		10,170		10,447
Power Financial Corp Ltd. 4.50% 2029		5,000		5,511
Power Financial Corp Ltd. 3.95% 2030		16,000		17,126
PRICOA Global Funding I 2.45% 20224		3,090		3,203
PRICOA Global Funding I 3.45% 20234		11,525		12,448
Prudential Financial, Inc. 3.905% 2047		850		1,023
Prudential Financial, Inc. 4.418% 2048		1,000		1,298
Prudential Financial, Inc. 4.35% 2050		5,000		6,569
Prudential Financial, Inc. 3.70% 2051		9,850		11,952
Prudential Financial, Inc., junior subordinated, 5.70% 2048 (3-month USD-LIBOR + 2.665% on 9/15/2028)7		3,500		4,045
Rabobank Nederland 2.50% 2021		8,500		8,507
Rabobank Nederland 4.375% 2025		5,945		6,788
Rede D’Or Finance SARL 4.50% 20304		7,200		7,520
Royal Bank of Canada 3.20% 2021		10,000		10,096
Royal Bank of Canada 1.15% 2025		5,931		6,063
Royal Bank of Scotland PLC 4.65% 2024 (3-month USD-LIBOR + 1.55% on 6/25/2024)7		14,130		15,437
Royal Bank of Scotland PLC 3.073% 2028 (UST Yield Curve Rate T Note Constant Maturity 1-year + 2.55% on 5/22/2027)7		2,500		2,716
Royal Bank of Scotland PLC 4.445% 2030 (3-month USD-LIBOR + 1.871% on 5/5/2029)7		14,200		16,907
Royal Bank of Scotland PLC 5.076% 2030 (3-month USD-LIBOR + 1.905% on 1/27/2029)7		5,300		6,518
Santander Holdings USA, Inc. 3.40% 2023		17,000		17,861
Santander Holdings USA, Inc. 3.50% 2024		13,325		14,400
Santander Holdings USA, Inc. 3.244% 2026		15,000		16,379
Skandinaviska Enskilda Banken AB 1.875% 2021		13,500		13,657
Skandinaviska Enskilda Banken AB 2.625% 2021		15,275		15,350
Starwood Property Trust, Inc. 5.50% 20234		2,295		2,401
Sumitomo Mitsui Banking Corp. 3.102% 2023		28,940		30,540
Svenska Handelsbanken AB 1.875% 2021		8,920		9,022
Synchrony Financial 2.85% 2022		8,750		9,038
Synchrony Financial 4.375% 2024		5,825		6,416
Toronto-Dominion Bank 2.65% 2024		18,625		19,964
Toronto-Dominion Bank 0.75% 2025		23,900		24,001
Travelers Companies, Inc. 4.00% 2047		2,250		2,920
Travelers Companies, Inc. 4.10% 2049		1,500		1,977
Travelers Companies, Inc. 2.55% 2050		3,815		4,020
U.S. Bancorp 2.40% 2024		19,000		20,261
U.S. Bank NA 2.85% 2023		21,000		22,102
U.S. Bank NA 3.40% 2023		13,125		14,106
UBS Group AG 1.364% 2027 (UST Yield Curve Rate T Note Constant Maturity 5-year + 1.08% on 1/30/2026)4,7		25,422		25,719
UBS Group AG 3.126% 2030 (3-month USD-LIBOR + 1.468% on 8/13/2029)4,7		2,600		2,914
UniCredit SpA 3.75% 20224		14,490		15,019
UniCredit SpA 6.572% 20224		26,240		27,656
UniCredit SpA 4.625% 20274		29,510		33,602
UniCredit SpA 5.861% 2032 (5-year USD-ICE Swap + 3.703% on 6/19/2027)4,7		44,926		50,669
UniCredit SpA 7.296% 2034 (5-year USD-ICE Swap + 4.914% on 4/2/2029)4,7		18,617		22,517

The Bond Fund of America 21

Bonds, notes & other debt instruments (continued)	Principal amount (000)		Value (000)
Corporate bonds, notes & loans (continued)
Financials (continued)
UniCredit SpA 5.459% 2035 (5-year USD-ICE Swap + 4.75% on 6/30/2030)4,7	$	1,115	$	1,229
VEB Finance Ltd. 6.80% 20254		500		602
Wells Fargo & Company 2.10% 2021		41,300		41,720
Wells Fargo & Company 2.50% 2021		13,500		13,546
Wells Fargo & Company 1.654% 2024 (USD-SOFR + 1.60% on 6/2/2024)7		79,935		82,136
Wells Fargo & Company 2.406% 2025 (3-month USD-LIBOR + 0.825% on 10/30/2024)7		72,912		77,110
Wells Fargo & Company 2.188% 2026 (USD-SOFR + 2.00% on 4/30/2025)7		30,525		32,166
Wells Fargo & Company 3.196% 2027 (3-month USD-LIBOR + 1.17% on 6/17/2026)7		19,471		21,598
Wells Fargo & Company 2.572% 2031 (3-month USD-LIBOR + 1.00% on 2/11/2030)7		73,029		77,341
Wells Fargo & Company 3.068% 2041 (USD-SOFR + 2.53% on 4/30/2040)7		4,902		5,340
Wells Fargo & Company 5.013% 2051 (3-month USD-LIBOR + 4.24% on 4/4/2050)7		5,300		7,542
Westpac Banking Corp. 2.894% 2030 (UST Yield Curve Rate T Note Constant Maturity 5-year + 1.35% on 2/4/2025)7		31,019		32,531
Westpac Banking Corp. 4.11% 2034 (UST Yield Curve Rate T Note Constant Maturity 5-year + 2.00% on 7/24/2029)7		11,339		12,990
Westpac Banking Corp. 2.668% 2035 (UST Yield Curve Rate T Note Constant Maturity 5-year + 1.75% on 11/15/2030)7		20,125		20,757
Willis North America Inc. 2.95% 2029		2,130		2,334
Willis North America Inc. 3.875% 2049		5,850		7,153
				4,641,349
Energy 4.32%
Apache Corp. 4.875% 2027		2,340		2,484
Apache Corp. 4.25% 2030		9,050		9,519
Apache Corp. 6.00% 2037		6,135		6,795
Apache Corp. 5.10% 2040		4,860		5,221
Apache Corp. 4.75% 2043		22,605		23,481
Apache Corp. 4.25% 2044		8,800		8,704
Apache Corp. 5.35% 2049		20,669		21,259
Baker Hughes, a GE Co. 4.486% 2030		6,593		7,928
Baker Hughes, a GE Co. 4.08% 2047		6,373		7,201
BP Capital Markets America Inc. 1.749% 2030		5,700		5,723
BP Capital Markets America Inc. 2.772% 2050		17,426		17,242
BP Capital Markets America Inc. 2.939% 2051		9,220		9,415
BP Capital Markets PLC 3.79% 2024		47,280		51,684
BP Capital Markets PLC 3.41% 2026		17,500		19,601
BP Capital Markets PLC 4.234% 2028		2,500		2,988
BP Capital Markets PLC 4.875% 2049 (UST Yield Curve Rate T Note Constant Maturity 5-year + 4.398% on 6/22/2030)7		5,900		6,597
BP Capital Markets PLC 3.00% 2050		14,034		14,383
Canadian Natural Resources Ltd. 3.45% 2021		800		815
Canadian Natural Resources Ltd. 2.95% 2023		25,740		26,927
Canadian Natural Resources Ltd. 3.80% 2024		20,250		22,061
Canadian Natural Resources Ltd. 2.05% 2025		24,338		25,552
Canadian Natural Resources Ltd. 3.85% 2027		49,083		55,129
Canadian Natural Resources Ltd. 2.95% 2030		25,973		27,813
Canadian Natural Resources Ltd. 4.95% 2047		2,749		3,492
Cenovus Energy Inc. 3.80% 2023		3,940		4,094
Cenovus Energy Inc. 5.375% 2025		38,460		43,387
Cenovus Energy Inc. 4.25% 2027		44,115		48,196
Cenovus Energy Inc. 5.25% 2037		4,149		4,697
Cenovus Energy Inc. 5.40% 2047		51,113		60,004
Cheniere Energy Partners, LP 4.50% 2029		5,050		5,349
Cheniere Energy, Inc. 5.125% 2027		3,000		3,552
Cheniere Energy, Inc. 4.625% 20284		8,450		8,883
Cheniere Energy, Inc. 3.70% 2029		80,771		90,039
Chevron Corp. 2.10% 2021		10,000		10,055
Chevron Corp. 2.498% 2022		9,675		9,913
Chevron Corp. 2.954% 2026		6,340		7,036
Chevron Corp. 1.995% 2027		919		975
Chevron Corp. 2.236% 2030		12,694		13,594
Chevron Corp. 2.978% 2040		1,119		1,240
Chevron Corp. 3.078% 2050		4,400		4,892
Chevron USA Inc. 0.687% 2025		12,476		12,550
Chevron USA Inc. 1.018% 2027		16,601		16,597
Chevron USA Inc. 2.343% 2050		5,440		5,300
CNX Resources Corp. 6.00% 20294		1,600		1,642

22 The Bond Fund of America

Bonds, notes & other debt instruments (continued)	Principal amount (000)		Value (000)
Corporate bonds, notes & loans (continued)
Energy (continued)
Columbia Pipeline Partners LP 5.80% 2045	$	2,635	$	3,605
Concho Resources Inc. 4.30% 2028		18,500		21,876
Concho Resources Inc. 2.40% 2031		4,106		4,304
Concho Resources Inc. 4.85% 2048		5,402		7,276
Constellation Oil Services Holding SA 10.00% 2024 (100% PIK)4,8		3,538		1,008
DCP Midstream Operating LP 4.95% 2022		1,495		1,545
Diamond Offshore Drilling, Inc. 4.875% 20439		13,470		1,708
Enbridge Energy Partners, LP 5.875% 2025		5,000		6,117
Enbridge Energy Partners, LP 7.375% 2045		32,973		50,353
Enbridge Inc. 4.00% 2023		45,260		49,274
Enbridge Inc. 3.50% 2024		3,391		3,681
Endeavor Energy Resources, LP 6.625% 20254		1,995		2,138
Energy Transfer Operating, LP 5.875% 2024		2,043		2,297
Energy Transfer Operating, LP 2.90% 2025		23,003		24,356
Energy Transfer Operating, LP 5.50% 2027		10,000		11,796
Energy Transfer Operating, LP 3.75% 2030		27,624		29,816
Energy Transfer Operating, LP 5.00% 2050		115,958		125,674
Energy Transfer Partners, LP 4.20% 2023		5,725		6,176
Energy Transfer Partners, LP 4.50% 2024		2,975		3,257
Energy Transfer Partners, LP 4.95% 2028		7,500		8,646
Energy Transfer Partners, LP 6.125% 2045		19,678		23,376
Energy Transfer Partners, LP 5.30% 2047		32,861		36,699
Energy Transfer Partners, LP 6.00% 2048		17,891		21,294
Energy Transfer Partners, LP 6.25% 2049		21,248		25,702
Energy Transfer Partners, LP, junior subordinated, 6.625% (3-month USD-LIBOR + 4.155% on 2/15/2028)7		22,000		18,684
Enterprise Products Operating LLC 2.80% 2030		3,768		4,088
Enterprise Products Operating LLC 3.20% 2052		17,987		18,343
EOG Resources, Inc. 4.375% 2030		15,455		18,803
EOG Resources, Inc. 4.95% 2050		10,233		13,883
EQM Midstream Partners, LP 4.75% 2023		2,500		2,633
EQM Midstream Partners, LP 6.50% 20274		3,520		3,969
EQM Midstream Partners, LP 5.50% 2028		8,300		9,088
EQT Corp. 3.00% 2022		23,035		23,251
EQT Corp. 7.875% 2025		5,562		6,341
EQT Corp. 3.90% 2027		11,000		10,949
EQT Corp. 5.00% 2029		1,175		1,242
EQT Corp. 8.75% 2030		15,000		18,356
Equinor ASA 3.625% 2028		12,719		14,824
Equinor ASA 3.125% 2030		22,503		25,547
Equinor ASA 3.25% 2049		5,687		6,320
Exxon Mobil Corp. 2.019% 2024		37,658		39,666
Exxon Mobil Corp. 2.992% 2025		6,330		6,932
Exxon Mobil Corp. 2.44% 2029		838		911
Exxon Mobil Corp. 2.61% 2030		30,776		33,626
Exxon Mobil Corp. 2.995% 2039		890		966
Exxon Mobil Corp. 4.227% 2040		2,000		2,491
Exxon Mobil Corp. 4.327% 2050		1,490		1,940
Exxon Mobil Corp. 3.452% 2051		24,627		28,148
Gazprom OJSC 6.51% 20224		8,350		8,874
Gray Oak Pipeline, LLC 3.45% 20274		8,374		8,756
Harvest Midstream I, LP 7.50% 20284		1,975		2,106
KazMunayGas National Co. JSC 4.75% 2027		2,560		2,976
Kinder Morgan, Inc. 3.15% 2023		1,280		1,347
Kinder Morgan, Inc. 4.30% 2028		10,000		11,737
Kinder Morgan, Inc. 2.00% 2031		10,000		10,113
Kinder Morgan, Inc. 5.05% 2046		6,575		8,059
Kinder Morgan, Inc. 5.20% 2048		9,024		11,478
Kinder Morgan, Inc. 3.25% 2050		3,345		3,366
Marathon Oil Corp. 3.85% 2025		5,000		5,364
Marathon Oil Corp. 4.40% 2027		5,755		6,399
MPLX LP 3.50% 2022		8,500		8,931
MPLX LP 1.75% 2026		19,782		20,483
MPLX LP 4.80% 2029		4,138		5,002
MPLX LP 2.65% 2030		29,345		30,788
MPLX LP 5.50% 2049		34,268		45,126
MV24 Capital BV 6.748% 20344		1,878		2,062

The Bond Fund of America 23

Bonds, notes & other debt instruments (continued)	Principal amount (000)		Value (000)
Corporate bonds, notes & loans (continued)
Energy (continued)
Noble Energy, Inc. 3.25% 2029	$	38,889	$	44,667
Noble Energy, Inc. 4.95% 2047		16,685		23,723
Noble Energy, Inc. 4.20% 2049		21,074		27,365
NuStar Logistics, LP 6.75% 20214		3,400		3,421
Occidental Petroleum Corp. 2.90% 2024		19,625		18,919
Occidental Petroleum Corp. 8.00% 2025		3,930		4,484
Occidental Petroleum Corp. 3.20% 2026		1,105		1,035
Occidental Petroleum Corp. 3.40% 2026		3,350		3,200
Occidental Petroleum Corp. 3.50% 2029		6,577		6,030
Occidental Petroleum Corp. 4.20% 2048		4,250		3,464
Oleoducto Central S.A. 4.00% 2027		7,845		8,524
Oleoducto Central SA 4.00% 20274		5,040		5,476
ONEOK, Inc. 2.20% 2025		439		458
ONEOK, Inc. 5.85% 2026		29,034		34,807
ONEOK, Inc. 4.00% 2027		5,403		6,031
ONEOK, Inc. 4.55% 2028		1,775		2,033
ONEOK, Inc. 4.35% 2029		3,154		3,578
ONEOK, Inc. 3.10% 2030		28,676		30,580
ONEOK, Inc. 6.35% 2031		29,062		37,313
ONEOK, Inc. 4.95% 2047		515		575
ONEOK, Inc. 5.20% 2048		28,170		32,881
ONEOK, Inc. 4.45% 2049		3,299		3,470
ONEOK, Inc. 4.50% 2050		7,802		8,202
ONEOK, Inc. 7.15% 2051		12,998		18,012
Parsley Energy, Inc. 5.25% 20254		4,000		4,176
Petrobras Global Finance Co. 8.75% 2026		2,600		3,381
Petrobras Global Finance Co. 5.093% 2030		1,962		2,195
Petrobras Global Finance Co. 6.90% 2049		19,000		24,130
Petrobras Global Finance Co. 6.75% 2050		2,190		2,724
Petróleos Mexicanos 5.50% 2021		196		197
Petróleos Mexicanos 4.875% 2022		5,805		5,990
Petróleos Mexicanos 5.375% 2022		5,935		6,152
Petróleos Mexicanos 3.50% 2023		600		613
Petróleos Mexicanos 4.625% 2023		400		416
Petróleos Mexicanos 4.875% 2024		581		611
Petróleos Mexicanos 6.875% 20254		65,600		71,989
Petróleos Mexicanos 4.50% 2026		9,922		9,902
Petróleos Mexicanos 6.875% 2026		105,261		115,156
Petróleos Mexicanos 6.50% 2027		75,432		79,576
Petróleos Mexicanos 6.84% 2030		1,447		1,517
Petróleos Mexicanos 5.95% 2031		2,838		2,836
Petróleos Mexicanos 7.69% 2050		4,125		4,166
Phillips 66 3.90% 2028		3,213		3,709
Phillips 66 2.15% 2030		2,876		2,924
Pioneer Natural Resources Company 1.90% 2030		35,912		35,600
Plains All American Pipeline, LP 3.80% 2030		7,691		8,274
PTT Exploration and Production PCL 2.587% 20274		4,780		5,000
Rattler Midstream Partners LP 5.625% 20254		1,310		1,386
Sabine Pass Liquefaction, LLC 6.25% 2022		4,700		4,948
Sabine Pass Liquefaction, LLC 5.625% 20237		14,000		15,389
Sabine Pass Liquefaction, LLC 5.75% 2024		13,100		14,982
Sabine Pass Liquefaction, LLC 5.625% 2025		21,015		24,519
Sabine Pass Liquefaction, LLC 5.875% 2026		33,750		40,826
Sabine Pass Liquefaction, LLC 4.50% 20304		46,475		55,120
Saudi Arabian Oil Co. 1.25% 20234		1,280		1,297
Saudi Arabian Oil Co. 2.875% 20244		8,448		8,973
Saudi Arabian Oil Co. 1.625% 20254		9,250		9,483
Saudi Arabian Oil Co. 3.50% 20294		4,835		5,379
Saudi Arabian Oil Co. 4.375% 20494		1,325		1,603
Shell International Finance BV 3.50% 2023		7,500		8,167
Shell International Finance BV 2.00% 2024		3,250		3,426
Shell International Finance BV 2.375% 2025		14,000		15,027
Shell International Finance BV 3.875% 2028		4,680		5,545
Shell International Finance BV 2.375% 2029		14,481		15,583
Shell International Finance BV 3.125% 2049		8,490		9,379
Shell International Finance BV 3.25% 2050		7,401		8,398
Southwestern Energy Co. 7.50% 2026		4,000		4,202

24 The Bond Fund of America

Bonds, notes & other debt instruments (continued)	Principal amount (000)		Value (000)
Corporate bonds, notes & loans (continued)
Energy (continued)
Southwestern Energy Co. 8.375% 2028	$	1,300	$	1,413
Sunoco Logistics Operating Partners, LP 4.00% 2027		15,000		16,417
Sunoco Logistics Operating Partners, LP 5.40% 2047		37,806		42,645
Sunoco LP 6.00% 2027		4,210		4,481
Sunoco LP 4.50% 20294		3,215		3,350
Tallgrass Energy Partners, LP 7.50% 20254		1,370		1,482
Targa Resources Partners LP 5.875% 2026		7,180		7,626
Targa Resources Partners LP 6.875% 2029		6,000		6,769
Targa Resources Partners LP 5.50% 2030		8,660		9,410
Targa Resources Partners LP 4.875% 20314		2,190		2,379
Total Capital International 3.455% 2029		4,640		5,373
Total Capital International 3.461% 2049		2,600		3,028
Total Capital International 3.127% 2050		35,054		38,029
Total SE 2.986% 2041		4,532		4,961
Total SE 3.386% 2060		15,550		17,692
TransCanada PipeLines Ltd. 4.10% 2030		39,303		46,465
TransCanada PipeLines Ltd. 5.10% 2049		13,500		18,066
Transcontinental Gas Pipe Line Company, LLC 3.95% 2050		10,975		12,448
Transportadora de Gas Peru SA 4.25% 20284		2,535		2,848
Western Gas Partners LP 5.30% 2048		2,000		1,992
Western Midstream Operating, LP 4.10% 20257		8,964		9,252
Western Midstream Operating, LP 4.05% 2030		6,606		7,358
Western Midstream Operating, LP 5.25% 2050		15,036		16,567
Williams Companies, Inc. 3.50% 2030		33,385		37,838
Williams Partners LP 3.90% 2025		1,391		1,544
Williams Partners LP 6.30% 2040		2,438		3,242
Williams Partners LP 5.10% 2045		1,626		2,011
WPX Energy, Inc. 5.25% 2024		638		697
WPX Energy, Inc. 5.25% 2027		2,500		2,653
WPX Energy, Inc. 5.875% 2028		2,075		2,264
WPX Energy, Inc. 4.50% 2030		18,995		20,163
				3,033,528
Utilities 3.98%
Abu Dhabi National Energy Co. PJSC (TAQA) 4.375% 20254		20,500		23,226
Abu Dhabi National Energy Co. PJSC (TAQA) 4.375% 20264		600		695
AEP Transmission Co. LLC 3.15% 2049		3,179		3,543
AEP Transmission Co. LLC 3.65% 2050		2,600		3,161
AES Panama Generation Holdings SRL 4.375% 20304		8,565		9,277
Alliant Energy Finance LLC 4.25% 20284		3,804		4,417
Ameren Corp. 2.50% 2024		1,616		1,724
Ameren Corp. 3.50% 2031		20,635		23,757
American Electric Power Company, Inc. 1.00% 2025		3,075		3,114
American Electric Power Company, Inc. 4.30% 2028		14,750		17,633
American Electric Power Company, Inc. 2.30% 2030		28,441		29,745
American Electric Power Company, Inc. 3.25% 2050		22,050		23,479
Berkshire Hathaway Energy Company 2.80% 2023		8,650		9,068
Berkshire Hathaway Energy Company 1.65% 20314		20,000		20,023
Berkshire Hathaway Energy Company 4.50% 2045		200		254
Calpine Corp. 5.25% 20264		6,902		7,150
Calpine Corp. 4.50% 20284		4,000		4,166
Cemig Geração e Transmissão SA 9.25% 2024		700		809
CenterPoint Energy, Inc. 2.95% 2030		10,229		11,150
CenterPoint Energy, Inc. 3.70% 2049		2,775		3,202
CenterPoint Energy, Inc. 2.90% 2050		1,875		2,037
CMS Energy Corp. 3.875% 2024		5,000		5,452
CMS Energy Corp. 3.00% 2026		2,853		3,148
CMS Energy Corp. 3.45% 2027		3,550		4,016
CMS Energy Corp. 4.875% 2044		100		132
Colbun SA 3.95% 20274		2,585		2,913
Connecticut Light and Power Co. 0.75% 2025		23,525		23,804
Consumers Energy Co. 0.35% 2023		2,350		2,354
Consumers Energy Co. 3.25% 2046		58		66
Consumers Energy Co. 3.10% 2050		13,497		15,634
Consumers Energy Co. 3.75% 2050		5,000		6,288
Consumers Energy Co. 3.50% 2051		3,686		4,523
Dominion Resources, Inc. 3.30% 2025		8,488		9,353

The Bond Fund of America 25

Bonds, notes & other debt instruments (continued)	Principal amount (000)		Value (000)
Corporate bonds, notes & loans (continued)
Utilities (continued)
Dominion Resources, Inc. 3.375% 2030	$	11,425	$	13,023
Dominion Resources, Inc., junior subordinated, 3.071% 20247		17,600		19,007
DPL Inc. 4.125% 20254		1,040		1,124
DTE Energy Co. 2.85% 2026		6,100		6,703
Duke Energy Carolinas, LLC 2.95% 2026		10,000		11,219
Duke Energy Carolinas, LLC 2.45% 2029		32,180		34,715
Duke Energy Carolinas, LLC 2.45% 2030		25,000		26,927
Duke Energy Corp. 0.90% 2025		3,125		3,134
Duke Energy Corp. 3.40% 2029		5,000		5,684
Duke Energy Indiana, Inc. 3.25% 2049		3,875		4,389
Duke Energy Ohio, Inc. 2.125% 2030		8,850		9,275
Duke Energy Progress, LLC 2.50% 2050		7,175		7,232
Edison International 3.125% 2022		13,250		13,765
Edison International 3.55% 2024		38,052		41,008
Edison International 4.95% 2025		42,916		49,077
Edison International 5.75% 2027		11,322		13,562
Edison International 4.125% 2028		42,422		47,312
EDP Finance BV 5.25% 20214		3,500		3,512
Emera Inc. 6.75% 2076 (3-month USD-LIBOR + 5.44% on 6/15/2026)7		22,801		26,688
Emera US Finance LP 2.70% 2021		3,085		3,109
Empresas Publicas de Medellin ESP 4.25% 20294		2,010		2,165
Empresas Publicas de Medellin ESP 4.375% 20314		9,760		10,504
Enel Chile SA 4.875% 2028		3,045		3,593
Enel Finance International SA 4.625% 20254		29,000		33,781
Enel Società per Azioni 8.75% 2073 (USD Semi Annual 30/360 (vs. 3-month USD-LIBOR) + 5.88% on 9/24/2023)4,7		9,500		11,118
Engie Energia Chile SA 3.40% 20304		1,458		1,582
ENN Energy Holdings Ltd. 2.625% 20304		24,093		24,245
Entergy Corp. 1.60% 2030		4,400		4,448
Entergy Corp. 2.80% 2030		12,580		13,601
Entergy Corp. 3.75% 2050		4,008		4,655
Entergy Louisiana, LLC 2.90% 2051		17,647		18,841
Entergy Texas, Inc. 1.75% 2031		13,150		13,203
Evergy Metro, Inc. 2.25% 2030		6,500		6,891
Eversource Energy 0.80% 2025		1,875		1,873
Exelon Corp. 4.05% 2030		16,150		19,130
Exelon Corp. 4.70% 2050		2,850		3,797
Exelon Corp., junior subordinated, 3.497% 20227		21,000		21,848
FirstEnergy Corp. 2.85% 2022 (3.10% on 1/15/2021)7		31,009		31,531
FirstEnergy Corp. 1.60% 2026		30,975		30,303
FirstEnergy Corp. 3.90% 2027 (4.40% on 1/16/2021)7		124,096		136,893
FirstEnergy Corp. 3.50% 20284		8,321		8,858
FirstEnergy Corp. 2.25% 2030		82,042		79,416
FirstEnergy Corp. 2.65% 2030		96,444		96,852
FirstEnergy Corp. 7.375% 2031		8,895		12,693
FirstEnergy Corp. 3.40% 2050		7,500		7,210
FirstEnergy Corp., Series B, 4.25% 2023 (4.75% on 3/15/2021)7		19,689		20,800
Florida Power & Light Co. 3.15% 2049		7,798		8,988
Georgia Power Co. 3.70% 2050		4,285		5,166
Gulf Power Co. 3.30% 2027		3,831		4,321
Interstate Power and Light Co. 3.25% 2024		9,628		10,557
Interstate Power and Light Co. 2.30% 2030		6,400		6,778
IPALCO Enterprises, Inc. 3.70% 2024		1,325		1,446
Israel Electric Corp. Ltd. 8.10% 20964		6,250		9,144
Jersey Central Power & Light Co. 4.30% 20264		4,480		5,015
Metropolitan Edison Co. 4.30% 20294		3,000		3,398
Mississippi Power Co. 3.95% 2028		7,050		8,224
Mississippi Power Co. 4.25% 2042		18,411		22,286
National Grid PLC 3.15% 20274		1,105		1,228
NextEra Energy Capital Holdings, Inc. 3.15% 2024		3,760		4,066
NextEra Energy Capital Holdings, Inc. 2.75% 2025		7,055		7,638
NextEra Energy Capital Holdings, Inc. 2.75% 2029		4,511		4,922
NextEra Energy Capital Holdings, Inc. 2.25% 2030		7,225		7,580
NextEra Energy Partners, LP 4.25% 20244		4,715		5,051
NextEra Energy Partners, LP 3.875% 20264		3,535		3,780
Niagara Mohawk Power Corp. 3.508% 20244		2,050		2,253
Niagara Mohawk Power Corp. 4.278% 20344		3,000		3,745

26 The Bond Fund of America

Bonds, notes & other debt instruments (continued)	Principal amount (000)		Value (000)
Corporate bonds, notes & loans (continued)
Utilities (continued)
Northern States Power Co. 3.40% 2042	$	50	$	58
Northern States Power Co. 3.60% 2047		505		623
Northern States Power Co. 2.60% 2051		6,644		7,046
NRG Energy, Inc. 7.25% 2026		8,773		9,269
Oncor Electric Delivery Company LLC 0.55% 20254		8,100		8,096
Pacific Gas and Electric Co. 1.75% 2022		33,900		33,998
Pacific Gas and Electric Co. 3.25% 2023		2,838		2,963
Pacific Gas and Electric Co. 3.85% 2023		3,800		4,042
Pacific Gas and Electric Co. 4.25% 2023		20,085		21,576
Pacific Gas and Electric Co. 3.40% 2024		10,480		11,165
Pacific Gas and Electric Co. 3.75% 2024		1,162		1,240
Pacific Gas and Electric Co. 2.95% 2026		67,009		70,927
Pacific Gas and Electric Co. 3.15% 2026		94,319		100,582
Pacific Gas and Electric Co. 2.10% 2027		23,680		24,065
Pacific Gas and Electric Co. 3.30% 2027		40,519		43,312
Pacific Gas and Electric Co. 3.30% 2027		19,793		21,208
Pacific Gas and Electric Co. 3.75% 2028		18,345		20,056
Pacific Gas and Electric Co. 4.65% 2028		46,741		53,430
Pacific Gas and Electric Co. 4.55% 2030		45,148		51,479
Pacific Gas and Electric Co. 2.50% 2031		78,612		78,811
Pacific Gas and Electric Co. 3.30% 2040		26,400		26,380
Pacific Gas and Electric Co. 3.75% 2042		33,996		34,258
Pacific Gas and Electric Co. 3.95% 2047		7,350		7,625
Pacific Gas and Electric Co. 3.50% 2050		60,946		60,710
Peco Energy Co. 2.80% 2050		21,550		22,951
PG&E Corp. 5.25% 2030		2,450		2,698
Progress Energy, Inc. 7.00% 2031		7,000		9,991
Public Service Company of Colorado 2.50% 2023		1,430		1,482
Public Service Company of Colorado 1.90% 2031		5,000		5,224
Public Service Company of Colorado 4.30% 2044		880		1,156
Public Service Company of Colorado 3.80% 2047		2,182		2,705
Public Service Electric and Gas Co. 3.20% 2029		5,000		5,707
Public Service Electric and Gas Co. 2.05% 2050		449		422
Public Service Electric and Gas Co. 2.70% 2050		5,158		5,458
Public Service Electric and Gas Co. 3.15% 2050		15,000		17,132
Public Service Enterprise Group Inc. 2.65% 2022		6,225		6,492
Public Service Enterprise Group Inc. 2.25% 2026		1,000		1,081
Public Service Enterprise Group Inc. 3.00% 2027		2,250		2,506
Public Service Enterprise Group Inc. 1.60% 2030		14,725		14,542
Public Service Enterprise Group Inc. 3.20% 2049		2,475		2,841
Puget Energy, Inc. 6.00% 2021		4,306		4,457
Puget Energy, Inc. 5.625% 2022		7,536		7,981
Puget Energy, Inc. 3.65% 2025		1,911		2,110
San Diego Gas & Electric Co. 1.70% 2030		24,713		25,014
San Diego Gas & Electric Co. 4.50% 2040		3,723		4,745
San Diego Gas & Electric Co. 3.75% 2047		3,086		3,619
San Diego Gas & Electric Co. 4.10% 2049		4,098		5,120
San Diego Gas & Electric Co. 3.32% 2050		11,047		12,596
Southern California Edison Co. (3-month USD-LIBOR + 0.27%) 0.502% 20213		4,650		4,653
Southern California Edison Co. 2.90% 2021		8,400		8,434
Southern California Edison Co. 1.845% 2022		2,716		2,722
Southern California Edison Co. 3.50% 2023		4,060		4,360
Southern California Edison Co. 3.70% 2025		24,510		27,509
Southern California Edison Co. 1.20% 2026		5,000		5,064
Southern California Edison Co. 3.65% 2028		8,342		9,371
Southern California Edison Co. 2.85% 2029		43,992		48,018
Southern California Edison Co. 4.20% 2029		21,825		25,841
Southern California Edison Co. 2.25% 2030		28,925		30,148
Southern California Edison Co. 6.00% 2034		12,500		17,411
Southern California Edison Co. 5.35% 2035		30,375		41,261
Southern California Edison Co. 5.75% 2035		6,666		9,217
Southern California Edison Co. 5.625% 2036		5,649		7,217
Southern California Edison Co. 5.55% 2037		5,300		6,786
Southern California Edison Co. 5.95% 2038		11,255		15,309
Southern California Edison Co. 6.05% 2039		2,411		3,274
Southern California Edison Co. 4.50% 2040		20,867		25,176
Southern California Edison Co. 4.00% 2047		12,555		14,748

The Bond Fund of America 27

Bonds, notes & other debt instruments (continued)	Principal amount (000)		Value (000)
Corporate bonds, notes & loans (continued)
Utilities (continued)
Southern California Edison Co. 4.125% 2048	$	18,740	$	22,397
Southern California Edison Co. 4.875% 2049		13,454		17,770
Southern California Edison Co. 3.65% 2050		56,313		64,023
Southern California Edison Co., Series C, 3.60% 2045		11,979		13,292
Southern California Gas Company 2.60% 2026		1,431		1,556
Southern California Gas Company 2.55% 2030		15,137		16,429
Southern Co. 3.70% 2030		19,500		22,604
Southern Co. 4.25% 2036		4,425		5,434
Southern Co. 4.40% 2046		2,090		2,631
State Grid Overseas Investment Ltd. 3.50% 2027		7,200		8,013
State Grid Overseas Investment Ltd. 4.25% 2028		700		818
Talen Energy Corp. 7.25% 20274		11,474		12,239
Talen Energy Corp. 6.625% 20284		8,000		8,383
Talen Energy Supply, LLC 7.625% 20284		1,410		1,522
Virginia Electric and Power Co. 2.875% 2029		4,944		5,566
Virginia Electric and Power Co. 4.00% 2043		1,437		1,809
Virginia Electric and Power Co. 2.45% 2050		8,925		8,974
Vistra Operations Co. LLC 3.55% 20244		8,000		8,667
Vistra Operations Co. LLC 5.00% 20274		1,000		1,061
Wisconsin Power and Light Co. 3.65% 2050		3,900		4,635
Xcel Energy Inc. 3.35% 2026		14,219		16,056
Xcel Energy Inc. 2.60% 2029		6,736		7,298
Xcel Energy Inc. 3.40% 2030		6,500		7,479
Xcel Energy Inc. 6.50% 2036		968		1,457
Xcel Energy Inc. 3.50% 2049		3,225		3,781
				2,796,557
Health care 3.43%
Abbott Laboratories 3.40% 2023		6,785		7,357
Abbott Laboratories 3.75% 2026		1,023		1,199
Abbott Laboratories 4.75% 2036		200		276
AbbVie Inc. 2.30% 2021		14,335		14,415
AbbVie Inc. 3.45% 2022		16,500		17,021
AbbVie Inc. 2.60% 2024		30,200		32,391
AbbVie Inc. 2.95% 2026		23,018		25,482
AbbVie Inc. 3.20% 2029		31,831		35,709
AbbVie Inc. 4.75% 2045		1,374		1,800
Amgen Inc. 2.45% 2030		25,000		26,799
Amgen Inc. 3.375% 2050		4,705		5,262
Anthem, Inc. 2.95% 2022		11,000		11,530
Anthem, Inc. 2.375% 2025		1,534		1,641
AstraZeneca PLC 2.375% 2022		14,650		15,061
AstraZeneca PLC 3.50% 2023		15,207		16,396
AstraZeneca PLC 3.375% 2025		33,000		37,129
AstraZeneca PLC 0.70% 2026		6,589		6,558
AstraZeneca PLC 4.00% 2029		2,027		2,416
AstraZeneca PLC 1.375% 2030		10,000		9,907
Avantor Funding, Inc. 4.625% 20284		6,320		6,691
Bayer US Finance II LLC 3.875% 20234		14,400		15,700
Bayer US Finance II LLC 4.25% 20254		32,819		37,556
Bayer US Finance II LLC 4.375% 20284		31,900		37,530
Bayer US Finance II LLC 4.875% 20484		2,276		2,931
Becton, Dickinson and Company 2.894% 2022		19,382		20,037
Becton, Dickinson and Company 3.363% 2024		41,795		45,448
Becton, Dickinson and Company 3.734% 2024		5,000		5,545
Becton, Dickinson and Company 3.70% 2027		42,036		48,250
Becton, Dickinson and Company 2.823% 2030		6,943		7,636
Becton, Dickinson and Company 3.794% 2050		2,526		3,003
Boston Scientific Corp. 3.375% 2022		3,100		3,230
Boston Scientific Corp. 3.45% 2024		1,985		2,152
Boston Scientific Corp. 3.75% 2026		11,325		12,858
Boston Scientific Corp. 2.65% 2030		42,440		45,575
Boston Scientific Corp. 4.70% 2049		1,025		1,406
Bristol-Myers Squibb Co. 2.90% 2024		14,262		15,491
Bristol-Myers Squibb Co. 3.20% 2026		11,838		13,325
Bristol-Myers Squibb Co. 3.40% 2029		7,107		8,276
Centene Corp. 4.75% 2025		9,060		9,309

28 The Bond Fund of America

Bonds, notes & other debt instruments (continued)	Principal amount (000)		Value (000)
Corporate bonds, notes & loans (continued)
Health care (continued)
Centene Corp. 5.375% 20264	$	10,415	$	10,998
Centene Corp. 5.375% 20264		3,175		3,362
Centene Corp. 4.25% 2027		58,085		61,705
Centene Corp. 4.625% 2029		42,335		47,056
Centene Corp. 3.00% 2030		23,055		24,465
Centene Corp. 3.375% 2030		45,137		47,559
Charles River Laboratories International, Inc. 5.50% 20264		6,500		6,820
Cigna Corp. 3.75% 2023		6,029		6,519
Cigna Corp. 4.375% 2028		17,927		21,673
Cigna Corp. 4.80% 2038		2,020		2,633
CVS Health Corp. 3.35% 2021		2,571		2,585
CVS Health Corp. 1.30% 2027		10,000		10,048
CVS Health Corp. 4.30% 2028		3,525		4,198
CVS Health Corp. 1.75% 2030		10,000		10,062
CVS Health Corp. 3.75% 2030		6,000		6,987
CVS Health Corp. 1.875% 2031		20,000		20,250
CVS Health Corp. 5.05% 2048		1,704		2,310
CVS Health Corp. 4.25% 2050		8,451		10,572
Elanco Animal Health Inc. 5.022% 2023		4,700		5,144
Eli Lilly and Co. 2.35% 2022		3,816		3,920
EMD Finance LLC 2.95% 20224		9,600		9,859
EMD Finance LLC 3.25% 20254		32,370		35,495
Gilead Sciences, Inc. 1.20% 2027		9,569		9,646
GlaxoSmithKline PLC 2.875% 2022		6,417		6,641
GlaxoSmithKline PLC 3.375% 2023		41,545		44,587
GlaxoSmithKline PLC 3.00% 2024		14,515		15,660
GlaxoSmithKline PLC 3.625% 2025		17,910		20,135
HCA Inc. 5.875% 2023		3,750		4,126
HCA Inc. 5.875% 2026		4,700		5,411
HCA Inc. 4.125% 2029		2,825		3,279
HCA Inc. 5.875% 2029		7,130		8,604
HCA Inc. 3.50% 2030		5,225		5,553
HCA Inc. 5.25% 2049		8,300		10,963
IMS Health Holdings, Inc. 5.00% 20264		5,750		6,034
Johnson & Johnson 2.25% 2022		12,240		12,510
Laboratory Corp. of America Holdings 4.70% 2045		1,310		1,721
Medtronic, Inc. 3.50% 2025		623		699
Merck & Co., Inc. 2.90% 2024		4,864		5,246
Merck & Co., Inc. 2.75% 2025		26,525		28,826
Molina Healthcare, Inc. 5.375% 2022		6,890		7,308
Molina Healthcare, Inc. 4.375% 20284		2,125		2,239
Molina Healthcare, Inc. 3.875% 20304		2,665		2,865
New York University Hospital Center 3.38% 2055		6,417		6,742
Novartis Capital Corp. 1.75% 2025		10,827		11,363
Novartis Capital Corp. 2.00% 2027		5,513		5,887
Novartis Capital Corp. 2.20% 2030		15,824		17,001
Partners HealthCare System, Inc. 3.192% 2049		10,400		11,507
Pfizer Inc. 2.80% 2022		3,707		3,820
Pfizer Inc. 3.20% 2023		32,648		35,230
Pfizer Inc. 2.95% 2024		7,674		8,281
Pfizer Inc. 2.75% 2026		10,172		11,245
Regeneron Pharmaceuticals, Inc. 1.75% 2030		15,734		15,512
Regeneron Pharmaceuticals, Inc. 2.80% 2050		18,423		17,923
Rotech Healthcare Inc., Term Loan, (3-month USD-LIBOR + 11.00%) 13.00% 2023 (100% PIK)3,6,8,10,11		4,652		4,652
Shire PLC 2.40% 2021		3,621		3,669
Shire PLC 2.875% 2023		8,790		9,325
Shire PLC 3.20% 2026		29,641		33,176
Syneos Health, Inc. 3.625% 20294		2,315		2,326
Takeda Pharmaceutical Company, Ltd. 4.40% 2023		31,550		34,982
Takeda Pharmaceutical Company, Ltd. 5.00% 2028		39,260		48,823
Takeda Pharmaceutical Company, Ltd. 2.05% 2030		3,302		3,381
Tenet Healthcare Corp. 4.625% 2024		10,300		10,568
Tenet Healthcare Corp. 4.875% 20264		5,535		5,797
Tenet Healthcare Corp. 5.125% 20274		4,565		4,845
Teva Pharmaceutical Finance Co. BV 2.20% 2021		3,886		3,884
Teva Pharmaceutical Finance Co. BV 3.65% 2021		3,000		3,046

The Bond Fund of America 29

Bonds, notes & other debt instruments (continued)	Principal amount (000)		Value (000)
Corporate bonds, notes & loans (continued)
Health care (continued)
Teva Pharmaceutical Finance Co. BV 2.95% 2022	$	6,800	$	6,796
Teva Pharmaceutical Finance Co. BV 2.80% 2023		232,598		230,700
Teva Pharmaceutical Finance Co. BV 6.00% 2024		92,316		98,070
Teva Pharmaceutical Finance Co. BV 7.125% 2025		66,000		73,080
Teva Pharmaceutical Finance Co. BV 3.15% 2026		95,825		92,292
Teva Pharmaceutical Finance Co. BV 6.75% 2028		86,779		98,327
Teva Pharmaceutical Finance Co. BV 4.10% 2046		110,965		99,036
Thermo Fisher Scientific Inc. 4.497% 2030		16,711		20,898
UnitedHealth Group Inc. 3.35% 2022		200		210
UnitedHealth Group Inc. 2.375% 2024		11,540		12,301
UnitedHealth Group Inc. 3.50% 2024		21,200		23,205
UnitedHealth Group Inc. 3.70% 2025		15,430		17,728
UnitedHealth Group Inc. 3.75% 2025		5,880		6,702
UnitedHealth Group Inc. 2.875% 2029		16,410		18,658
UnitedHealth Group Inc. 2.00% 2030		10,000		10,611
UnitedHealth Group Inc. 4.45% 2048		2,000		2,761
UnitedHealth Group Inc. 3.70% 2049		6,795		8,519
UnitedHealth Group Inc. 2.90% 2050		10,000		11,072
Upjohn Inc. 2.70% 20304		24,723		26,241
Upjohn Inc. 3.85% 20404		3,506		3,957
Upjohn Inc. 4.00% 20504		21,111		24,188
Valeant Pharmaceuticals International, Inc. 7.00% 20244		6,808		7,011
Valeant Pharmaceuticals International, Inc. 5.50% 20254		10,000		10,373
WellPoint, Inc. 3.50% 2024		9,349		10,261
Zimmer Holdings, Inc. 3.15% 2022		14,276		14,686
				2,407,239
Consumer discretionary 2.96%
Amazon.com, Inc. 2.40% 2023		10,603		11,071
Amazon.com, Inc. 3.80% 2024		10,000		11,251
Amazon.com, Inc. 1.20% 2027		4,460		4,555
Amazon.com, Inc. 1.50% 2030		33,923		34,480
Amazon.com, Inc. 3.875% 2037		550		686
Amazon.com, Inc. 2.50% 2050		12,280		12,742
Amazon.com, Inc. 2.70% 2060		10,560		11,307
American Honda Finance Corp. 1.65% 2021		9,565		9,635
American Honda Finance Corp. 2.60% 2022		106		111
American Honda Finance Corp. 0.875% 2023		50,000		50,624
American Honda Finance Corp. 1.00% 2025		3,000		3,047
American Honda Finance Corp. 1.20% 2025		14,237		14,576
Bayerische Motoren Werke AG 1.85% 20214		1,500		1,514
Bayerische Motoren Werke AG 2.00% 20214		2,000		2,006
Bayerische Motoren Werke AG 2.95% 20224		5,000		5,171
Bayerische Motoren Werke AG 3.45% 20234		19,534		20,829
Bayerische Motoren Werke AG 3.80% 20234		1,985		2,132
Bayerische Motoren Werke AG 3.15% 20244		8,808		9,500
Bayerische Motoren Werke AG 3.90% 20254		30,040		33,833
BMW Finance NV 2.25% 20224		7,500		7,739
Carnival Corp. 11.50% 20234		26,515		30,698
DaimlerChrysler North America Holding Corp. 2.00% 20214		11,925		12,022
DaimlerChrysler North America Holding Corp. 2.55% 20224		12,750		13,191
DaimlerChrysler North America Holding Corp. 1.75% 20234		18,000		18,485
DaimlerChrysler North America Holding Corp. 2.70% 20244		7,500		8,033
DaimlerChrysler North America Holding Corp. 3.65% 20244		9,710		10,587
Expedia Group Inc. 6.25% 20254		6,225		7,218
Ford Motor Co. 8.50% 2023		14,000		15,808
Ford Motor Co. 4.75% 2043		3,500		3,574
Ford Motor Credit Co. 3.20% 2021		9,890		9,913
Ford Motor Credit Co. 3.336% 2021		4,500		4,517
Ford Motor Credit Co. 3.47% 2021		15,066		15,113
Ford Motor Credit Co. 3.813% 2021		30,785		31,189
Ford Motor Credit Co. 5.875% 2021		9,265		9,494
Ford Motor Credit Co. 3.219% 2022		300		304
Ford Motor Credit Co. 3.339% 2022		25,553		25,840
Ford Motor Credit Co. 5.596% 2022		19,250		19,946
Ford Motor Credit Co. 3.087% 2023		16,391		16,708
Ford Motor Credit Co. 3.096% 2023		20,532		20,769

30 The Bond Fund of America

Bonds, notes & other debt instruments (continued)	Principal amount (000)		Value (000)
Corporate bonds, notes & loans (continued)
Consumer discretionary (continued)
Ford Motor Credit Co. 4.14% 2023	$	22,000	$	22,715
Ford Motor Credit Co. 4.375% 2023		9,717		10,106
Ford Motor Credit Co. 3.664% 2024		5,301		5,450
Ford Motor Credit Co. 3.81% 2024		8,710		8,939
Ford Motor Credit Co. 4.063% 2024		5,025		5,285
Ford Motor Credit Co. 4.134% 2025		400		420
Ford Motor Credit Co. 5.125% 2025		6,390		6,956
Ford Motor Credit Co. 4.542% 2026		18,000		19,237
Ford Motor Credit Co. 3.815% 2027		4,655		4,792
Ford Motor Credit Co. 4.125% 2027		9,320		9,774
Ford Motor Credit Co. 4.271% 2027		40,000		42,000
General Motors Company 5.40% 2023		4,478		5,017
General Motors Company 6.125% 2025		41,044		49,816
General Motors Company 6.80% 2027		18,998		24,431
General Motors Company 5.00% 2035		11,505		13,865
General Motors Company 6.60% 2036		11,309		15,481
General Motors Company 6.75% 2046		2,644		3,819
General Motors Company 5.40% 2048		3,240		4,080
General Motors Company 5.95% 2049		3,135		4,243
General Motors Financial Co. 3.20% 2021		13,200		13,343
General Motors Financial Co. 3.55% 2021		1,400		1,411
General Motors Financial Co. 3.15% 2022		100		104
General Motors Financial Co. 3.45% 2022		14,955		15,381
General Motors Financial Co. 3.45% 2022		550		565
General Motors Financial Co. 3.55% 2022		1,850		1,930
General Motors Financial Co. 1.70% 2023		42,000		43,106
General Motors Financial Co. 3.25% 2023		47,908		50,248
General Motors Financial Co. 3.70% 2023		5,627		5,968
General Motors Financial Co. 4.15% 2023		14,010		15,076
General Motors Financial Co. 5.20% 2023		20,330		22,300
General Motors Financial Co. 3.50% 2024		4,470		4,835
General Motors Financial Co. 3.95% 2024		15,500		16,888
General Motors Financial Co. 5.10% 2024		18,546		20,763
General Motors Financial Co. 2.75% 2025		15,040		16,092
General Motors Financial Co. 2.90% 2025		7,412		7,922
General Motors Financial Co. 4.00% 2025		2,039		2,246
General Motors Financial Co. 4.30% 2025		558		626
General Motors Financial Co. 4.35% 2025		21,138		23,621
General Motors Financial Co. 4.00% 2026		2,000		2,253
General Motors Financial Co. 5.25% 2026		8,267		9,752
General Motors Financial Co. 2.70% 2027		16,172		17,170
General Motors Financial Co. 3.60% 2030		1,735		1,938
Hanesbrands Inc. 4.625% 20244		5,000		5,247
Home Depot, Inc. 3.90% 2028		825		993
Home Depot, Inc. 2.95% 2029		31,000		35,246
Home Depot, Inc. 2.70% 2030		25,000		27,910
Home Depot, Inc. 4.50% 2048		863		1,213
Hyundai Capital America 3.45% 20214		33,735		33,904
Hyundai Capital America 3.75% 20214		21,500		21,818
Hyundai Capital America 2.85% 20224		7,412		7,685
Hyundai Capital America 3.10% 20224		13,890		14,282
Hyundai Capital America 3.25% 20224		24,685		25,714
Hyundai Capital America 3.95% 20224		15,000		15,502
Hyundai Capital America 1.25% 20234		22,052		22,327
Hyundai Capital America 2.375% 20234		21,815		22,505
Hyundai Capital America 5.75% 20234		10,000		11,081
Hyundai Capital America 1.80% 20254		41,040		42,115
Hyundai Capital America 2.65% 20254		28,554		30,303
Hyundai Capital America 5.875% 20254		10,000		11,840
Hyundai Capital America 2.375% 20274		11,397		11,963
Hyundai Capital America 3.00% 20274		22,768		24,775
International Game Technology PLC 6.25% 20224		1,690		1,748
International Game Technology PLC 6.50% 20254		1,060		1,188
International Game Technology PLC 6.25% 20274		3,500		4,015
International Game Technology PLC 5.25% 20294		6,940		7,489
KB Home 6.875% 2027		5,000		5,875
Lennar Corp. 4.50% 2024		3,015		3,337

The Bond Fund of America 31

Bonds, notes & other debt instruments (continued)	Principal amount (000)		Value (000)
Corporate bonds, notes & loans (continued)
Consumer discretionary (continued)
Limited Brands, Inc. 6.875% 20254	$	985	$	1,071
Limited Brands, Inc. 6.75% 2036		3,800		4,241
Lowe’s Companies, Inc. 3.65% 2029		4,680		5,463
Lowe’s Companies, Inc. 4.05% 2047		2,425		3,036
Lowe’s Companies, Inc. 3.00% 2050		4,680		5,009
M.D.C. Holdings, Inc. 6.00% 2043		7,475		10,035
Magna International Inc. 2.45% 2030		5,500		5,920
Marriott International, Inc. 5.75% 2025		1,977		2,313
McDonald’s Corp. 2.125% 2030		8,975		9,473
McDonald’s Corp. 4.45% 2048		1,750		2,291
McDonald’s Corp. 3.625% 2049		6,857		8,062
McDonald’s Corp. 4.20% 2050		5,396		6,944
Meituan Dianping 2.125% 20254		5,041		5,126
Meituan Dianping 3.05% 20304		17,000		17,690
Melco International Development Ltd. 4.875% 20254		300		310
Melco International Development Ltd. 5.75% 20284		3,990		4,256
Melco International Development Ltd. 5.375% 20294		885		922
MGM Growth Properties LLC 5.625% 2024		3,885		4,227
MGM Growth Properties LLC 3.875% 20294		2,835		2,904
MGM Resorts International 6.75% 2025		3,000		3,252
Morongo Band of Mission Indians 7.00% 20394		11,225		13,088
MYT Holding LLC 7.50% 20254,8		1,163		1,171
Neiman Marcus Group Ltd. LLC, Term Loan, (3-month USD-LIBOR + 12.00%) 13.00% 20253,11		275		295
Newell Rubbermaid Inc. 3.15% 2021		11,183		11,211
NIKE, Inc. 2.40% 2025		8,656		9,332
NIKE, Inc. 3.25% 2040		5,469		6,366
NIKE, Inc. 3.375% 2050		4,272		5,261
Nissan Motor Co., Ltd. 2.60% 20224		15,570		15,981
Nissan Motor Co., Ltd. 3.043% 20234		10,668		11,161
Nissan Motor Co., Ltd. 3.522% 20254		2,697		2,894
Nissan Motor Co., Ltd. 4.345% 20274		14,290		15,796
Nissan Motor Co., Ltd. 4.81% 20304		16,000		18,057
PetSmart, Inc. 5.875% 20254		3,975		4,092
President & Fellows of Harvard College 2.517% 2050		5,500		5,868
S.A.C.I. Falabella 3.75% 20274		8,295		8,959
Sands China Ltd. 4.60% 2023		7,441		7,921
Sands China Ltd. 3.80% 20264		2,330		2,494
Sands China Ltd. 5.40% 2028		43,750		51,350
Sands China Ltd. 4.375% 20304		6,500		7,260
Starbucks Corp. 3.10% 2023		15,237		16,100
Starbucks Corp. 3.80% 2025		14,000		15,939
Taylor Morrison Home Corp. 5.75% 20284		3,500		3,975
Toyota Motor Credit Corp. 2.15% 2022		2,000		2,063
Toyota Motor Credit Corp. 2.60% 2022		9,860		10,094
Toyota Motor Credit Corp. 0.50% 2023		6,377		6,411
Toyota Motor Credit Corp. 1.35% 2023		19,170		19,687
Toyota Motor Credit Corp. 2.70% 2023		5,300		5,553
Toyota Motor Credit Corp. 0.80% 2025		23,287		23,460
Toyota Motor Credit Corp. 1.80% 2025		2,000		2,098
Toyota Motor Credit Corp. 1.15% 2027		6,086		6,114
Toyota Motor Credit Corp. 3.20% 2027		1,330		1,496
Toyota Motor Credit Corp. 3.05% 2028		2,589		2,911
Toyota Motor Credit Corp. 3.375% 2030		15,094		17,671
VICI Properties LP 4.25% 20264		5,700		5,921
VICI Properties LP 4.625% 20294		715		766
VICI Properties LP / VICI Note Co. Inc. 3.50% 20254		2,175		2,229
Volkswagen Group of America Finance, LLC 4.00% 20214		3,901		4,021
Volkswagen Group of America Finance, LLC 2.70% 20224		4,456		4,622
Volkswagen Group of America Finance, LLC 2.90% 20224		26,500		27,346
Volkswagen Group of America Finance, LLC 3.125% 20234		41,634		43,996
Volkswagen Group of America Finance, LLC 4.25% 20234		3,000		3,302
Volkswagen Group of America Finance, LLC 2.85% 20244		22,214		23,745
Volkswagen Group of America Finance, LLC 1.25% 20254		24,590		24,806
Volkswagen Group of America Finance, LLC 3.35% 20254		23,730		26,104
Volkswagen Group of America Finance, LLC 4.625% 20254		3,477		4,056

32 The Bond Fund of America

Bonds, notes & other debt instruments (continued)	Principal amount (000)		Value (000)
Corporate bonds, notes & loans (continued)
Consumer discretionary (continued)
Volkswagen Group of America Finance, LLC 1.625% 20274	$	9,205	$	9,291
Wynn Macau, Ltd. 5.125% 20294		1,200		1,228
Wynn Resorts Ltd. 7.75% 20254		4,380		4,752
				2,081,116
Industrials 2.29%
3M Co. 2.25% 2023		10,722		11,204
3M Co. 3.25% 2024		9,872		10,743
ADT Corp. 3.50% 2022		13,100		13,468
Air Lease Corp. 2.875% 2026		28,382		30,053
Airbus Group SE 2.70% 20234		985		1,035
Avis Budget Group, Inc. 10.50% 20254		5,100		6,028
Avolon Holdings Funding Ltd. 3.625% 20224		27,802		28,412
Avolon Holdings Funding Ltd. 3.95% 20244		35,726		37,757
Avolon Holdings Funding Ltd. 4.25% 20264		9,306		10,033
Avolon Holdings Funding Ltd. 4.375% 20264		3,500		3,795
Avolon Holdings Funding Ltd. 3.25% 20274		16,000		16,363
Boeing Company 4.508% 2023		27,700		29,950
Boeing Company 1.95% 2024		29,161		30,045
Boeing Company 2.80% 2024		4,765		5,005
Boeing Company 4.875% 2025		88,514		100,957
Boeing Company 2.75% 2026		57,255		60,235
Boeing Company 3.10% 2026		24,540		26,289
Boeing Company 2.70% 2027		19,091		19,861
Boeing Company 5.04% 2027		36,449		42,653
Boeing Company 3.25% 2028		78,543		84,246
Boeing Company 3.25% 2028		5,816		6,160
Boeing Company 3.45% 2028		4,075		4,376
Boeing Company 3.20% 2029		5,425		5,728
Boeing Company 2.95% 2030		7,761		8,034
Boeing Company 5.15% 2030		49,879		60,452
Boeing Company 3.625% 2031		17,321		19,007
Boeing Company 3.60% 2034		6,790		7,182
Boeing Company 3.90% 2049		8,665		9,196
Boeing Company 5.805% 2050		5,365		7,412
Bohai Financial Investment Holding Co., Ltd. 5.25% 20224		3,242		3,404
Burlington Northern Santa Fe, LLC 3.05% 2051		16,655		18,914
BWX Technologies, Inc. 4.125% 20284		1,675		1,749
Canadian National Railway Company 3.20% 2046		1,180		1,400
Carrier Global Corp. 2.242% 2025		16,131		17,092
Carrier Global Corp. 2.493% 2027		6,000		6,479
Carrier Global Corp. 2.722% 2030		32,332		34,572
Carrier Global Corp. 3.377% 2040		17,500		19,134
Carrier Global Corp. 3.577% 2050		1,000		1,112
Clean Harbors, Inc. 4.875% 20274		1,100		1,149
Clean Harbors, Inc. 5.125% 20294		10,000		10,954
Continental Airlines, Inc., Series 2001-1, Class A1, 6.703% 2022		1,459		1,448
Continental Airlines, Inc., Series 2000-2, Class A1, 7.707% 2022		878		875
CSX Corp. 3.80% 2028		2,460		2,870
CSX Corp. 4.25% 2029		4,277		5,186
CSX Corp. 2.40% 2030		17,855		19,334
CSX Corp. 2.50% 2051		10,200		10,132
Delta Air Lines Inc. 7.00% 20254		2,750		3,177
Delta Air Lines, Inc., Series 2002-1, Class G1, MBIA insured, 6.718% 2024		791		814
Dianjian Haiyu Ltd. 3.50% (UST Yield Curve Rate T Note Constant Maturity 5-year + 6.773% on 6/14/2022)7		4,148		4,179
Dianjian International Finance Ltd. 4.60% (UST Yield Curve Rate T Note Constant Maturity 5-year + 6.933% on 3/13/2023)7		14,000		14,455
DP World Crescent 4.848% 20284		3,180		3,704
DP World Crescent 3.875% 2029		2,000		2,197
Dun & Bradstreet Corp. 6.875% 20264		6,055		6,520
Empresa de Transporte de Pasajeros Metro SA 4.70% 20504		7,450		9,388
GE Capital Funding, LLC 3.45% 20254		1,000		1,104
GE Capital International Funding Co. 4.418% 2035		45,567		54,397
General Dynamics Corp. 3.375% 2023		6,645		7,108
General Dynamics Corp. 3.50% 2025		8,025		8,978
General Dynamics Corp. 3.75% 2028		4,895		5,731

The Bond Fund of America 33

Bonds, notes & other debt instruments (continued)	Principal amount (000)		Value (000)
Corporate bonds, notes & loans (continued)
Industrials (continued)
General Dynamics Corp. 4.25% 2050	$	669	$	913
General Electric Capital Corp. 3.373% 2025		32,950		36,690
General Electric Capital Corp. 6.15% 2037		3,050		4,209
General Electric Co. 3.45% 2027		22,768		25,713
General Electric Co. 3.625% 2030		34,527		39,486
General Electric Co. 4.25% 2040		14,050		16,611
General Electric Co. 4.125% 2042		40		47
General Electric Co. 4.35% 2050		20,725		25,206
Honeywell International Inc. 2.30% 2024		22,497		23,994
Honeywell International Inc. 1.35% 2025		165		171
Honeywell International Inc. 2.70% 2029		9,333		10,451
Honeywell International Inc. 1.95% 2030		22,250		23,573
Honeywell International Inc. 2.80% 2050		400		439
Icahn Enterprises Finance Corp. 4.75% 2024		2,500		2,601
Icahn Enterprises Finance Corp. 6.25% 2026		5,200		5,518
L3Harris Technologies, Inc. 1.80% 2031		3,725		3,796
Lima Metro Line 2 Finance Ltd. 5.875% 20344		2,718		3,288
Lima Metro Line 2 Finance Ltd. 5.875% 2034		579		700
Lima Metro Line 2 Finance Ltd. 4.35% 2036		2,420		2,688
Lima Metro Line 2 Finance Ltd. 4.35% 20364		945		1,050
Masonite International Corp. 5.75% 20264		3,500		3,670
Mexico City Airport Trust 4.25% 2026		200		212
Mexico City Airport Trust 3.875% 2028		8,400		8,697
Mexico City Airport Trust 5.50% 2046		3,884		4,144
Mexico City Airport Trust 5.50% 2047		14,531		15,341
Mexico City Airport Trust 5.50% 20474		4,583		4,838
Nielsen Finance LLC and Nielsen Finance Co. 5.625% 20284		2,300		2,503
Nielsen Finance LLC and Nielsen Finance Co. 5.875% 20304		4,650		5,269
Norfolk Southern Corp. 3.05% 2050		1,314		1,441
Northrop Grumman Corp. 2.55% 2022		8,955		9,304
Northrop Grumman Corp. 2.93% 2025		25,040		27,245
Northrop Grumman Corp. 3.25% 2028		7,425		8,398
Northrop Grumman Corp. 5.25% 2050		1,922		2,856
Otis Worldwide Corp. 2.056% 2025		30,132		31,961
Otis Worldwide Corp. 2.293% 2027		4,000		4,278
Otis Worldwide Corp. 2.565% 2030		5,900		6,342
Otis Worldwide Corp. 3.362% 2050		1,500		1,739
Parker-Hannifin Corp. 3.25% 2029		2,615		2,969
Prime Security Services Borrower, LLC 5.25% 20244		2,500		2,672
Prime Security Services Borrower, LLC 5.75% 20264		2,000		2,192
Prime Security Services Borrower, LLC 3.375% 20274		3,100		3,081
Raytheon Technologies Corp. 2.80% 2022		9,010		9,269
Raytheon Technologies Corp. 3.20% 2024		10,105		10,918
Raytheon Technologies Corp. 2.25% 2030		3,750		3,986
Republic Services, Inc. 2.50% 2024		7,000		7,478
Rolls-Royce PLC 5.75% 20274		1,935		2,145
Roper Technologies, Inc. 1.00% 2025		2,000		2,025
Roper Technologies, Inc. 1.40% 2027		3,000		3,039
Roper Technologies, Inc. 1.75% 2031		5,000		4,982
Rutas 2 and 7 Finance Ltd. 0% 20364		1,795		1,355
Siemens AG 1.70% 20214		13,500		13,633
Siemens AG 2.70% 20224		28,620		29,401
Siemens AG 2.90% 20224		10,000		10,323
Signature Aviation PLC 4.00% 20284		2,500		2,521
Stericycle, Inc. 5.375% 20244		5,000		5,223
TransDigm Inc. 6.25% 20264		656		699
Union Pacific Corp. 3.15% 2024		5,705		6,178
Union Pacific Corp. 2.15% 2027		4,740		5,041
Union Pacific Corp. 3.70% 2029		14,705		17,074
Union Pacific Corp. 2.40% 2030		9,549		10,295
Union Pacific Corp. 4.30% 2049		4,550		5,940
Union Pacific Corp. 3.25% 2050		18,198		20,747
Union Pacific Corp. 3.95% 2059		11,880		14,768
United Airlines Holdings, Inc. 6.50% 20274		10,440		11,243
United Rentals, Inc. 5.875% 2026		2,353		2,494
United Technologies Corp. 3.65% 2023		437		472
United Technologies Corp. 3.95% 2025		17,415		19,978

34 The Bond Fund of America

Bonds, notes & other debt instruments (continued)		Principal amount (000)		Value (000)
Corporate bonds, notes & loans (continued)
Industrials (continued)
United Technologies Corp. 3.125% 2027		$	1,000	$	1,123
United Technologies Corp. 4.125% 2028			6,320		7,536
United Technologies Corp. 4.50% 2042			1,625		2,119
WESCO Distribution, Inc. 7.125% 20254			2,165		2,384
WESCO Distribution, Inc. 7.25% 20284			4,355		4,959
Westinghouse Air Brake Technologies Corp. 4.40% 20247			8,270		9,058
XPO Logistics, Inc. 6.75% 20244			1,500		1,596
XPO Logistics, Inc. 6.25% 20254			5,000		5,390
					1,604,923
Consumer staples 2.12%
Albertsons Companies Inc. 3.50% 20234			3,575		3,668
Altria Group, Inc. 2.85% 2022	��		200		208
Altria Group, Inc. 2.35% 2025			785		835
Altria Group, Inc. 4.40% 2026			16,051		18,640
Altria Group, Inc. 4.80% 2029			53,864		64,632
Altria Group, Inc. 3.40% 2030			3,247		3,647
Altria Group, Inc. 5.80% 2039			900		1,186
Altria Group, Inc. 4.50% 2043			100		115
Altria Group, Inc. 5.375% 2044			2,433		3,114
Altria Group, Inc. 5.95% 2049			37,357		52,338
Altria Group, Inc. 4.45% 2050			571		676
Anheuser-Busch Co. / InBev Worldwide 4.90% 2046			32,310		42,181
Anheuser-Busch InBev NV 4.00% 2028			2,000		2,358
Anheuser-Busch InBev NV 4.75% 2029			36,001		44,425
Anheuser-Busch InBev NV 3.50% 2030			2,455		2,846
Anheuser-Busch InBev NV 4.90% 2031			3,000		3,822
Anheuser-Busch InBev NV 4.60% 2048			14,275		18,064
Anheuser-Busch InBev NV 5.55% 2049			14,412		20,488
Anheuser-Busch InBev NV 4.50% 2050			18,726		23,604
British American Tobacco International Finance PLC 3.95% 20254			20,022		22,534
British American Tobacco International Finance PLC 1.668% 2026			17,162		17,576
British American Tobacco PLC 3.222% 2024			51,000		55,240
British American Tobacco PLC 3.215% 2026			8,750		9,647
British American Tobacco PLC 3.557% 2027			57,320		63,837
British American Tobacco PLC 4.70% 2027			911		1,072
British American Tobacco PLC 2.259% 2028			30,961		32,167
British American Tobacco PLC 4.906% 2030			17,738		21,435
British American Tobacco PLC 2.726% 2031			23,635		24,508
British American Tobacco PLC 4.39% 2037			50,000		55,974
British American Tobacco PLC 4.54% 2047			38,726		43,005
British American Tobacco PLC 4.758% 2049			49,691		57,707
Central Garden & Pet Co. 4.125% 2030			1,325		1,384
Coca-Cola Co. 1.00% 2028			2,785		2,797
Coca-Cola Co. 1.375% 2031			8,974		8,964
Coca-Cola Co. 2.50% 2051			5,594		5,781
Coca-Cola FEMSA, SAB de CV 1.85% 2032			5,500		5,515
Conagra Brands, Inc. 4.30% 2024			22,146		24,792
Conagra Brands, Inc. 4.60% 2025			11,307		13,328
Conagra Brands, Inc. 1.375% 2027			7,200		7,269
Conagra Brands, Inc. 5.30% 2038			780		1,044
Conagra Brands, Inc. 5.40% 2048			14,298		20,423
Constellation Brands, Inc. 2.65% 2022			14,125		14,683
Constellation Brands, Inc. 2.70% 2022			1,995		2,052
Constellation Brands, Inc. 3.20% 2023			10,638		11,244
Constellation Brands, Inc. 4.25% 2023			8,588		9,364
Constellation Brands, Inc. 3.70% 2026			3,350		3,836
Constellation Brands, Inc. 3.60% 2028			1,650		1,885
Constellation Brands, Inc. 3.15% 2029			13,210		14,731
Constellation Brands, Inc. 2.875% 2030			22,676		24,885
Constellation Brands, Inc. 4.10% 2048			1,000		1,214
Constellation Brands, Inc. 3.75% 2050			1,460		1,724
Costco Wholesale Corp. 2.30% 2022			3,500		3,593
Costco Wholesale Corp. 2.75% 2024			14,500		15,606
Darling Ingredients Inc. 5.25% 20274			6,000		6,391
H.J. Heinz Co. 4.25% 20314			1,634		1,823
Imperial Tobacco Finance PLC 3.50% 20234			3,173		3,324

The Bond Fund of America 35

Bonds, notes & other debt instruments (continued)	Principal amount (000)		Value (000)
Corporate bonds, notes & loans (continued)
Consumer staples (continued)
JBS Investments GmbH II 7.00% 20264	$	1,932	$	2,088
JBS Investments GmbH II 7.00% 2026		835		903
Keurig Dr Pepper Inc. 3.551% 2021		8,500		8,607
Keurig Dr Pepper Inc. 4.057% 2023		31,170		33,887
Keurig Dr Pepper Inc. 4.417% 2025		9,925		11,447
Keurig Dr Pepper Inc. 4.597% 2028		22,033		26,847
Keurig Dr Pepper Inc. 3.20% 2030		15,577		17,655
Keurig Dr Pepper Inc. 5.085% 2048		14,925		21,113
Keurig Dr Pepper Inc. 3.80% 2050		1,353		1,624
Kimberly-Clark Corp. 1.05% 2027		4,020		4,075
Kimberly-Clark Corp. 3.10% 2030		1,510		1,739
Kimberly-Clark de México, SAB de CV 2.431% 20314		2,510		2,597
Kraft Heinz Company 3.95% 2025		7,390		8,142
Kraft Heinz Company 3.00% 2026		2,810		2,936
Kraft Heinz Company 4.375% 2046		14,000		15,148
Kraft Heinz Company 4.875% 20494		1,570		1,832
Lamb Weston Holdings, Inc. 4.625% 20244		2,500		2,613
Molson Coors Brewing Co. 2.10% 2021		6,190		6,243
Molson Coors Brewing Co. 4.20% 2046		17,971		20,622
Nestlé Holdings, Inc. 3.35% 20234		26,000		28,043
Nestlé Holdings, Inc. 0.625% 20264		35,403		35,246
Nestlé Holdings, Inc. 1.00% 20274		22,620		22,681
PepsiCo, Inc. 1.40% 2031		15,210		15,329
PepsiCo, Inc. 3.625% 2050		25,720		32,670
Philip Morris International Inc. 2.50% 2022		16,500		17,128
Philip Morris International Inc. 2.875% 2024		11,985		12,914
Philip Morris International Inc. 1.50% 2025		1,286		1,332
Philip Morris International Inc. 0.875% 2026		4,170		4,190
Philip Morris International Inc. 3.375% 2029		13,550		15,531
Philip Morris International Inc. 1.75% 2030		5,667		5,742
Philip Morris International Inc. 2.10% 2030		3,718		3,880
Philip Morris International Inc. 4.125% 2043		3,680		4,512
Philip Morris International Inc. 4.875% 2043		8,500		11,417
Procter & Gamble Company 0.55% 2025		25,660		25,893
Procter & Gamble Company 2.80% 2027		647		721
Procter & Gamble Company 1.20% 2030		27,045		27,090
Procter & Gamble Company 3.00% 2030		1,183		1,365
Reckitt Benckiser Group PLC 2.375% 20224		10,935		11,247
Reckitt Benckiser Treasury Services PLC 2.75% 20244		4,305		4,606
Reynolds American Inc. 4.45% 2025		7,158		8,155
Reynolds American Inc. 4.75% 2042		2,500		2,643
Reynolds American Inc. 5.85% 2045		10,195		13,047
Spectrum Brands Inc. 5.75% 2025		2,750		2,843
TreeHouse Foods, Inc. 6.00% 20244		2,555		2,610
Wal-Mart Stores, Inc. 3.125% 2021		7,500		7,603
Wal-Mart Stores, Inc. 2.35% 2022		4,000		4,166
Wal-Mart Stores, Inc. 2.85% 2024		32,435		35,102
Wal-Mart Stores, Inc. 3.05% 2026		16,440		18,513
Wal-Mart Stores, Inc. 3.70% 2028		5,694		6,708
				1,492,246
Communication services 2.07%
Alphabet Inc. 0.45% 2025		7,194		7,213
Alphabet Inc. 1.10% 2030		26,820		26,446
Alphabet Inc. 1.90% 2040		2,710		2,660
Alphabet Inc. 2.05% 2050		1,465		1,400
Alphabet Inc. 2.25% 2060		11,110		10,758
América Móvil, SAB de CV 8.46% 2036	MXN	27,000		1,457
AT&T Inc. 2.30% 2027	$	12,975		13,846
AT&T Inc. 1.65% 2028		13,275		13,556
AT&T Inc. 2.75% 2031		43,600		46,619
AT&T Inc. 2.25% 2032		46,460		47,194
AT&T Inc. 3.30% 2052		5,956		5,906
AT&T Inc. 3.50% 20534		37,755		37,757
AT&T Inc. 3.55% 20554		12,316		12,275
Axiata SPV2 Bhd. 2.163% 2030		4,883		4,940
Baidu Inc. 3.425% 2030		8,000		8,869

36 The Bond Fund of America

Bonds, notes & other debt instruments (continued)	Principal amount (000)		Value (000)
Corporate bonds, notes & loans (continued)
Communication services (continued)
Cablevision Systems Corp. 5.375% 20284	$	4,850	$	5,189
CCO Holdings LLC and CCO Holdings Capital Corp. 5.50% 20264		3,815		3,959
CCO Holdings LLC and CCO Holdings Capital Corp. 5.00% 20284		12,250		12,967
CCO Holdings LLC and CCO Holdings Capital Corp. 5.375% 20294		10,700		11,742
CCO Holdings LLC and CCO Holdings Capital Corp. 4.50% 20304		18,675		19,842
CCO Holdings LLC and CCO Holdings Capital Corp. 4.75% 20304		9,665		10,441
CCO Holdings LLC and CCO Holdings Capital Corp. 2.80% 2031		26,386		27,910
CCO Holdings LLC and CCO Holdings Capital Corp. 2.30% 2032		26,700		26,740
CCO Holdings LLC and CCO Holdings Capital Corp. 4.50% 20324		2,225		2,378
CCO Holdings LLC and CCO Holdings Capital Corp. 6.484% 2045		6,850		9,727
CCO Holdings LLC and CCO Holdings Capital Corp. 5.125% 2049		18,943		23,121
CCO Holdings LLC and CCO Holdings Capital Corp. 4.80% 2050		5,000		5,976
CCO Holdings LLC and CCO Holdings Capital Corp. 3.70% 2051		6,700		6,971
CenturyLink, Inc. 4.00% 20274		66,645		68,902
Comcast Corp. 3.10% 2025		14,900		16,406
Comcast Corp. 3.95% 2025		5,250		6,034
Comcast Corp. 2.65% 2030		64,290		70,283
Comcast Corp. 1.50% 2031		5,000		4,970
Comcast Corp. 1.95% 2031		19,386		19,952
Comcast Corp. 3.25% 2039		2,120		2,406
Comcast Corp. 3.75% 2040		9,600		11,567
Comcast Corp. 3.45% 2050		2,900		3,419
Comcast Corp. 2.80% 2051		16,700		17,394
Comcast Corp. 2.45% 2052		5,000		4,871
Diamond Sports Group LLC 5.375% 20264		3,500		2,850
Digicel Group Ltd. 8.75% 20244		371		390
Digicel Group Ltd. 13.00% 2025 (53.85% PIK)4,8		196		200
Digicel Group Ltd. 8.00% 20264		148		124
Discovery Communications, Inc. 3.625% 2030		6,653		7,626
Discovery Communications, Inc. 4.65% 2050		7,781		9,741
Embarq Corp. 7.995% 2036		7,150		8,833
Fox Corp. 4.03% 2024		4,090		4,506
Fox Corp. 3.05% 2025		1,962		2,148
Grupo Televisa, SAB 7.25% 2043	MXN	25,290		1,001
iHeartCommunications, Inc. 6.375% 2026	$	8,475		9,084
Level 3 Communications, Inc. 5.375% 2024		5,185		5,244
Level 3 Communications, Inc. 5.25% 2026		5,015		5,188
Level 3 Communications, Inc. 3.875% 20294		6,900		7,679
NBCUniversal Enterprise, Inc., junior subordinated, 5.25% 20494		29,045		29,662
Netflix, Inc. 4.875% 2028		6,000		6,776
Netflix, Inc. 5.875% 2028		8,425		10,115
Netflix, Inc. 4.875% 20304		31,859		36,698
Quebecor Media Inc. 5.75% 2023		3,600		3,897
Scripps Escrow II, Inc. 3.875% 20294		1,300		1,358
Sinclair Television Group, Inc. 4.125% 20304		3,625		3,719
Sirius XM Radio Inc. 3.875% 20224		2,500		2,541
Sirius XM Radio Inc. 4.625% 20244		2,500		2,594
SoftBank Group Corp. 3.36% 20234		4,303		4,350
Sprint Corp. 7.25% 2021		8,613		8,973
Sprint Corp. 7.875% 2023		6,163		7,143
Sprint Corp. 7.125% 2024		10,010		11,718
TEGNA Inc. 5.00% 2029		8,500		8,988
Tencent Holdings Ltd. 3.28% 20244		15,000		15,992
Tencent Holdings Ltd. 3.595% 2028		7,500		8,279
Tencent Holdings Ltd. 2.39% 20304		20,000		20,529
Tencent Holdings Ltd. 3.24% 20504		14,870		15,421
Tencent Holdings Ltd. 3.29% 20604		10,000		10,395
Tencent Music Entertainment Group 2.00% 2030		2,575		2,561
T-Mobile US, Inc. 3.50% 20254		6,550		7,244
T-Mobile US, Inc. 1.50% 20264		4,900		5,026
T-Mobile US, Inc. 6.50% 2026		11,250		11,658
T-Mobile US, Inc. 3.75% 20274		20,800		23,708
T-Mobile US, Inc. 2.05% 20284		5,525		5,754
T-Mobile US, Inc. 4.75% 2028		9,066		9,756
T-Mobile US, Inc. 3.875% 20304		76,997		89,260
T-Mobile US, Inc. 2.55% 20314		17,552		18,453
T-Mobile US, Inc. 3.00% 20414		17,872		18,562

The Bond Fund of America 37

Bonds, notes & other debt instruments (continued)	Principal amount (000)		Value (000)
Corporate bonds, notes & loans (continued)
Communication services (continued)
T-Mobile US, Inc. 4.50% 20504	$	27,186	$	33,582
T-Mobile US, Inc. 3.30% 20514		22,532		23,224
Verizon Communications Inc. 0.85% 2025		39,900		40,223
Verizon Communications Inc. 4.329% 2028		24,097		29,025
Verizon Communications Inc. 3.875% 2029		2,071		2,440
Verizon Communications Inc. 4.016% 2029		7,551		8,969
Verizon Communications Inc. 1.68% 20304		14,152		14,112
Verizon Communications Inc. 1.75% 2031		39,504		39,355
Verizon Communications Inc. 4.40% 2034		10,000		12,484
Verizon Communications Inc. 4.272% 2036		4,028		4,996
Verizon Communications Inc. 2.65% 2040		3,200		3,236
Verizon Communications Inc. 3.85% 2042		855		1,015
Verizon Communications Inc. 2.875% 2050		24,665		24,875
Verizon Communications Inc. 3.00% 2060		2,300		2,316
Videotron Ltd. 5.375% 20244		3,100		3,427
Virgin Media O2 4.25% 20314		5,475		5,607
Virgin Media Secured Finance PLC 5.50% 20294		5,000		5,427
Vodafone Group PLC 5.25% 2048		9,975		13,878
Vodafone Group PLC 4.25% 2050		17,875		22,182
Walt Disney Company 2.65% 2031		37,160		40,751
Walt Disney Company 4.70% 2050		10,000		14,125
Walt Disney Company 3.60% 2051		2,213		2,686
Ziggo Bond Finance BV 5.50% 20274		6,200		6,483
				1,454,225
Information technology 1.51%
Adobe Inc. 1.90% 2025		14,746		15,600
Adobe Inc. 2.15% 2027		24,367		26,159
Adobe Inc. 2.30% 2030		24,569		26,611
Apple Inc. 0.55% 2025		8,325		8,368
Apple Inc. 1.125% 2025		12,013		12,362
Apple Inc. 1.25% 2030		12,375		12,387
Apple Inc. 2.40% 2050		20,230		20,748
Apple Inc. 2.55% 2060		5,750		5,914
Black Knight Inc. 3.625% 20284		3,200		3,280
Broadcom Inc. 3.625% 2024		6,000		6,594
Broadcom Inc. 3.15% 2025		15,000		16,385
Broadcom Inc. 4.70% 2025		24,020		27,532
Broadcom Inc. 4.25% 2026		150,225		172,202
Broadcom Inc. 4.75% 2029		29,600		35,405
Broadcom Inc. 4.15% 2030		36,500		42,278
Broadcom Ltd. 2.65% 2023		16,500		17,171
Broadcom Ltd. 3.625% 2024		33,750		36,494
Broadcom Ltd. 3.875% 2027		32,260		36,267
Broadcom Ltd. 3.50% 2028		22,732		25,068
CDW Corp. 4.125% 2025		5,275		5,528
Financial & Risk US Holdings, Inc. 6.25% 20264		5,675		6,069
Fiserv, Inc. 2.75% 2024		19,000		20,409
Fiserv, Inc. 2.25% 2027		19,120		20,399
Fiserv, Inc. 3.50% 2029		23,998		27,439
Fiserv, Inc. 2.65% 2030		26,471		28,659
Fiserv, Inc. 4.40% 2049		13,825		18,519
Gartner, Inc. 4.50% 20284		1,850		1,954
Global Payments Inc. 2.90% 2030		22,277		24,242
Intuit Inc. 0.65% 2023		5,105		5,151
Intuit Inc. 0.95% 2025		5,170		5,239
Intuit Inc. 1.35% 2027		4,855		4,973
Intuit Inc. 1.65% 2030		5,065		5,207
Microsoft Corp. 3.125% 2025		11,040		12,346
Microsoft Corp. 2.525% 2050		11,074		11,679
NCR Corp. 5.75% 20274		2,500		2,661
NCR Corp. 6.125% 20294		1,730		1,919
NCR Corp. 5.25% 20304		7,250		7,789
Open Text Corp. 3.875% 20284		6,500		6,755
Oracle Corp. 1.90% 2021		12,250		12,375
Oracle Corp. 2.50% 2025		11,500		12,357
Oracle Corp. 3.60% 2050		54,865		64,075

38 The Bond Fund of America

Bonds, notes & other debt instruments (continued)	Principal amount (000)		Value (000)
Corporate bonds, notes & loans (continued)
Information technology (continued)
PayPal Holdings, Inc. 2.40% 2024	$	43,150	$	46,152
PayPal Holdings, Inc. 2.65% 2026		12,234		13,451
PayPal Holdings, Inc. 2.85% 2029		12,580		13,993
PayPal Holdings, Inc. 2.30% 2030		12,424		13,319
PayPal Holdings, Inc. 3.25% 2050		4,859		5,616
ServiceNow, Inc. 1.40% 2030		49,130		47,964
Simon Property Group, LP 3.50% 2025		12,550		13,943
Simon Property Group, LP 2.65% 2030		13,725		14,629
Unisys Corp. 6.875% 20274		1,700		1,862
VeriSign, Inc. 4.625% 2023		5,800		5,862
Visa Inc. 2.15% 2022		4,535		4,677
Visa Inc. 0.75% 2027		9,875		9,855
Visa Inc. 1.10% 2031		10,000		9,872
Visa Inc. 2.00% 2050		8,000		7,641
				1,061,405
Materials 0.84%
Air Products and Chemicals, Inc. 1.50% 2025		2,464		2,569
Air Products and Chemicals, Inc. 1.85% 2027		802		850
Air Products and Chemicals, Inc. 2.05% 2030		1,768		1,887
Air Products and Chemicals, Inc. 2.70% 2040		11,472		12,364
Air Products and Chemicals, Inc. 2.80% 2050		4,545		4,996
Anglo American Capital PLC 5.625% 20304		6,800		8,672
Anglo American Capital PLC 3.95% 20504		4,722		5,313
ArcelorMittal 7.25% 20397		2,000		2,809
ArcelorMittal 7.00% 20417		2,000		2,759
Ardagh Packaging Finance 5.25% 20254		3,640		3,845
Ardagh Packaging Finance 4.125% 20264		2,500		2,616
Ball Corp. 4.00% 2023		6,000		6,401
Berry Global Escrow Corp. 4.875% 20264		9,875		10,618
Blue Cube Spinco Inc. 9.75% 2023		1,050		1,079
Blue Cube Spinco Inc. 10.00% 2025		3,000		3,180
Braskem Finance Ltd. 6.45% 2024		650		713
Braskem Idesa SAPI 7.45% 20294		1,540		1,448
Braskem SA 4.50% 20304		10,625		10,930
Braskem SA 4.50% 2030		1,350		1,389
Braskem SA 5.875% 20504		4,000		4,143
BWAY Parent Co., Inc. 5.50% 20244		6,500		6,638
Chevron Phillips Chemical Co. LLC 3.30% 20234		9,250		9,797
Chevron Phillips Chemical Co. LLC 3.70% 20284		3,000		3,431
Cleveland-Cliffs Inc. 4.875% 20244		7,500		7,655
Cleveland-Cliffs Inc. 9.875% 20254		7,975		9,391
Cleveland-Cliffs Inc. 6.75% 20264		1,035		1,119
Corp Nacional Del Cobre De Chile 3.75% 20314		8,000		9,066
Crown Holdings, Inc. 4.50% 2023		2,500		2,644
Crown Holdings, Inc. 4.25% 2026		4,000		4,416
Dow Chemical Co. 3.625% 2026		14,418		16,254
Dow Chemical Co. 4.80% 2028		4,000		4,922
Dow Chemical Co. 2.10% 2030		13,000		13,343
Dow Chemical Co. 4.625% 2044		1,100		1,385
Dow Chemical Co. 5.55% 2048		8,600		12,324
Dow Chemical Co. 4.80% 2049		11,227		15,128
Dow Chemical Co. 3.60% 2050		10,500		11,798
DowDuPont Inc. 5.419% 2048		7,159		10,404
Ecolab Inc. 2.125% 2050		4,000		3,837
FMG Resources 4.75% 20224		6,300		6,493
Freeport-McMoRan Inc. 3.875% 2023		9,000		9,408
Freeport-McMoRan Inc. 4.125% 2028		2,000		2,101
Freeport-McMoRan Inc. 5.40% 2034		1,450		1,817
Freeport-McMoRan Inc. 5.45% 2043		2,550		3,179
Fresnillo PLC 4.25% 20504		9,516		10,465
Glencore Funding LLC 4.125% 20244		25,850		28,470
Graphic Packaging International, Inc. 3.50% 20284		8,000		8,309
Industrias Peñoles, SAB de CV 4.75% 20504		6,090		7,071
LYB International Finance III, LLC 1.25% 2025		3,279		3,339
LYB International Finance III, LLC 2.875% 2025		4,000		4,363
LYB International Finance III, LLC 2.25% 2030		19,505		20,185

The Bond Fund of America 39

Bonds, notes & other debt instruments (continued)	Principal amount (000)		Value (000)
Corporate bonds, notes & loans (continued)
Materials (continued)
LYB International Finance III, LLC 3.375% 2030	$	2,000	$	2,244
LYB International Finance III, LLC 3.375% 2040		10,703		11,462
LYB International Finance III, LLC 4.20% 2049		1,740		2,036
LYB International Finance III, LLC 4.20% 2050		4,500		5,253
LYB International Finance III, LLC 3.625% 2051		25,968		28,430
LYB International Finance III, LLC 3.80% 2060		7,574		8,182
Methanex Corp. 5.125% 2027		9,900		10,772
Newcrest Finance Pty Ltd. 3.25% 20304		5,229		5,784
Newcrest Finance Pty Ltd. 4.20% 20504		2,414		2,959
Nova Chemicals Corp. 4.875% 20244		2,000		2,086
Nova Chemicals Corp. 5.25% 20274		7,500		8,001
Nutrien Ltd. 4.20% 2029		500		598
Nutrien Ltd. 2.95% 2030		4,500		4,956
Nutrien Ltd. 5.00% 2049		3,850		5,325
Nutrien Ltd. 3.95% 2050		500		612
Nutrition & Biosciences, Inc. 1.23% 20254		5,000		5,055
Nutrition & Biosciences, Inc. 1.832% 20274		7,772		8,012
Nutrition & Biosciences, Inc. 2.30% 20304		31,920		32,888
Nutrition & Biosciences, Inc. 3.268% 20404		2,500		2,687
Nutrition & Biosciences, Inc. 3.468% 20504		3,000		3,259
OCI NV 5.25% 20244		3,500		3,642
Olin Corp. 9.50% 20254		2,950		3,690
Praxair, Inc. 1.10% 2030		13,964		13,828
Praxair, Inc. 2.00% 2050		5,729		5,372
S.P.C.M. SA 4.875% 20254		695		718
Sealed Air Corp. 4.875% 20224		3,139		3,298
Sealed Air Corp. 5.25% 20234		111		118
Sherwin-Williams Co. 2.75% 2022		212		219
Sherwin-Williams Co. 3.125% 2024		7,250		7,869
Sherwin-Williams Co. 3.45% 2027		112		127
Sherwin-Williams Co. 2.95% 2029		5,150		5,674
Sherwin-Williams Co. 2.30% 2030		1,271		1,329
Sherwin-Williams Co. 4.50% 2047		2,601		3,479
Sherwin-Williams Co. 3.30% 2050		1,700		1,883
Silgan Holdings Inc. 4.75% 2025		5,000		5,097
Silgan Holdings Inc. 4.125% 2028		2,500		2,603
Summit Materials, Inc. 5.25% 20294		2,600		2,733
Suzano Austria GmbH 6.00% 2029		3,500		4,215
Suzano Austria GmbH 3.75% 2031		12,660		13,448
Vale Overseas Ltd. 3.75% 2030		11,677		13,002
Westlake Chemical Corp. 5.00% 2046		7,090		9,214
Westlake Chemical Corp. 4.375% 2047		1,960		2,334
				591,826
Real estate 0.59%
Alexandria Real Estate Equities, Inc. 3.80% 2026		2,437		2,805
Alexandria Real Estate Equities, Inc. 4.30% 2026		1,440		1,677
Alexandria Real Estate Equities, Inc. 3.95% 2028		1,070		1,244
Alexandria Real Estate Equities, Inc. 2.75% 2029		1,213		1,327
Alexandria Real Estate Equities, Inc. 4.50% 2029		2,110		2,583
Alexandria Real Estate Equities, Inc. 3.375% 2031		2,615		2,997
Alexandria Real Estate Equities, Inc. 1.875% 2033		1,489		1,490
American Campus Communities, Inc. 3.75% 2023		1,560		1,649
American Campus Communities, Inc. 4.125% 2024		5,860		6,401
American Campus Communities, Inc. 3.30% 2026		20,716		22,635
American Campus Communities, Inc. 3.625% 2027		1,865		2,057
American Campus Communities, Inc. 2.85% 2030		4,967		5,204
American Campus Communities, Inc. 3.875% 2031		1,414		1,603
Corporate Office Properties LP 2.25% 2026		17,606		18,372
Equinix, Inc. 2.625% 2024		40,151		42,954
Equinix, Inc. 1.25% 2025		9,495		9,695
Equinix, Inc. 2.90% 2026		24,462		26,782
Equinix, Inc. 1.80% 2027		2,646		2,727
Equinix, Inc. 1.55% 2028		9,210		9,370
Equinix, Inc. 3.20% 2029		27,854		30,744
Equinix, Inc. 2.15% 2030		35,754		36,423
Equinix, Inc. 3.00% 2050		6,455		6,556

40 The Bond Fund of America

Bonds, notes & other debt instruments (continued)	Principal amount (000)			Value (000)
Corporate bonds, notes & loans (continued)
Real estate (continued)
Essex Portfolio LP 3.25% 2023	$	4,610		$	4,861
Essex Portfolio LP 3.875% 2024		5,500			6,046
Essex Portfolio LP 3.375% 2026		1,070			1,202
Essex Portfolio LP 4.00% 2029		1,960			2,299
Gaming and Leisure Properties, Inc. 3.35% 2024		912			960
Gaming and Leisure Properties, Inc. 4.00% 2030		2,564			2,790
Hospitality Properties Trust 5.00% 2022		14,650			14,943
Hospitality Properties Trust 4.50% 2023		9,680			9,746
Hospitality Properties Trust 4.50% 2025		6,875			6,785
Hospitality Properties Trust 3.95% 2028		100			97
Howard Hughes Corp. 5.375% 20254		16,500			17,057
Howard Hughes Corp. 5.375% 20284		7,025			7,569
Iron Mountain Inc. 4.875% 20274		1,605			1,682
Iron Mountain Inc. 5.25% 20284		12,959			13,700
Iron Mountain Inc. 4.875% 20294		11,137			11,761
Iron Mountain Inc. 5.25% 20304		3,450			3,730
Kimco Realty Corp. 2.70% 2024		16,980			17,943
Kimco Realty Corp. 3.30% 2025		5,000			5,470
Omega Healthcare Investors, Inc. 4.375% 2023		2,100			2,273
Piedmont Operating Partnership LP 3.40% 2023		2,800			2,916
Piedmont Operating Partnership LP 4.45% 2024		3,000			3,216
Scentre Group 2.375% 20214		11,410			11,454
Scentre Group 3.25% 20254		1,265			1,348
Scentre Group 3.50% 20254		7,550			8,079
WEA Finance LLC 3.75% 20244		2,480			2,618
Westfield Corp. Ltd. 3.15% 20224		6,225			6,333
Westfield Corp. Ltd. 3.50% 20294		7,330			7,689
					411,862
Municipals 0.01%
ENA Master Trust 4.00% 20484		8,154			8,796
Total corporate bonds, notes & loans					21,585,072
U.S. Treasury bonds & notes 27.59%
U.S. Treasury 25.97%
U.S. Treasury 1.125% 2021		500			503
U.S. Treasury 1.125% 2021		—	2		—	2
U.S. Treasury 1.25% 2021		40,000			40,377
U.S. Treasury 1.50% 2021		371,000			375,695
U.S. Treasury 1.625% 2021		57,661			58,092
U.S. Treasury 1.625% 2021		360			365
U.S. Treasury 1.75% 2021		935			949
U.S. Treasury 2.00% 2021		3,000			3,037
U.S. Treasury 2.00% 2021		1,000			1,016
U.S. Treasury 2.125% 2021		100,000			100,824
U.S. Treasury 2.50% 202112		480,000			481,781
U.S. Treasury 0.125% 2022		670,000			670,067
U.S. Treasury 0.125% 2022		431,589			431,641
U.S. Treasury 0.125% 2022		217,505			217,545
U.S. Treasury 0.125% 2022		159,869			159,886
U.S. Treasury 0.125% 2022		53,100			53,104
U.S. Treasury 0.125% 2022		50,000			50,014
U.S. Treasury 0.125% 2022		13,745			13,748
U.S. Treasury 0.375% 2022		213			214
U.S. Treasury 1.375% 2022		75,000			76,670
U.S. Treasury 1.50% 2022		211,000			215,728
U.S. Treasury 1.625% 2022		6,000			6,176
U.S. Treasury 1.75% 2022		45,000			46,125
U.S. Treasury 1.875% 2022		54,500			55,771
U.S. Treasury 2.125% 202212		32,000			33,272
U.S. Treasury 0.125% 2023		105,000			104,911
U.S. Treasury 0.125% 2023		40,000			39,988
U.S. Treasury 0.125% 2023		16,090			16,078
U.S. Treasury 0.125% 2023		6,667			6,659
U.S. Treasury 0.125% 2023		661			661
U.S. Treasury 0.25% 2023		60,001			60,162
U.S. Treasury 0.25% 2023		4,750			4,762

The Bond Fund of America 41

Bonds, notes & other debt instruments (continued)	Principal amount (000)			Value (000)
U.S. Treasury bonds & notes (continued)
U.S. Treasury (continued)
U.S. Treasury 1.375% 2023	$	72,000		$	74,198
U.S. Treasury 1.625% 2023		15,000			15,517
U.S. Treasury 1.75% 2023		3,100			3,218
U.S. Treasury 2.125% 2023		16,428			17,369
U.S. Treasury 2.50% 2023		10,300			10,845
U.S. Treasury 2.625% 2023		15,000			15,924
U.S. Treasury 2.75% 2023		100,000			106,256
U.S. Treasury 2.875% 2023		54,729			58,797
U.S. Treasury 1.25% 2024		75,000			77,790
U.S. Treasury 1.50% 2024		130,777			136,949
U.S. Treasury 1.50% 2024		78,200			81,964
U.S. Treasury 1.50% 2024		1,000			1,049
U.S. Treasury 1.75% 2024		40,000			42,146
U.S. Treasury 1.75% 2024		10,003			10,550
U.S. Treasury 2.00% 2024		442,300			469,329
U.S. Treasury 2.00% 2024		183,000			193,962
U.S. Treasury 2.00% 2024		55,000			58,432
U.S. Treasury 2.125% 2024		105,265			111,846
U.S. Treasury 2.125% 2024		18,000			19,313
U.S. Treasury 2.125% 2024		8,000			8,563
U.S. Treasury 2.25% 2024		50,633			54,083
U.S. Treasury 2.25% 2024		3,000			3,238
U.S. Treasury 2.375% 2024		67,233			71,868
U.S. Treasury 2.50% 2024		4,000			4,310
U.S. Treasury 0.25% 2025		1,038,626			1,035,438
U.S. Treasury 0.25% 2025		224,740			224,139
U.S. Treasury 0.25% 2025		88,500			88,107
U.S. Treasury 0.25% 2025		35,930			35,789
U.S. Treasury 0.375% 2025		726,653			727,592
U.S. Treasury 0.50% 2025		5,127			5,174
U.S. Treasury 2.00% 2025		20,000			21,416
U.S. Treasury 2.25% 2025		35,000			38,224
U.S. Treasury 2.625% 2025		135,324			148,669
U.S. Treasury 2.625% 2025		63,822			70,976
U.S. Treasury 2.75% 202512		992,493			1,094,052
U.S. Treasury 2.75% 2025		31,813			35,280
U.S. Treasury 2.875% 2025		307,175			341,808
U.S. Treasury 2.875% 2025		32,900			36,724
U.S. Treasury 1.625% 2026		145,900			155,551
U.S. Treasury 1.625% 2026		10,000			10,658
U.S. Treasury 1.625% 2026		—	2		—	2
U.S. Treasury 1.75% 2026		77,025			82,748
U.S. Treasury 1.875% 2026		41,000			44,248
U.S. Treasury 2.00% 2026		15,600			16,974
U.S. Treasury 2.125% 2026		54,000			58,936
U.S. Treasury 2.25% 2026		8,000			8,772
U.S. Treasury 2.50% 2026		24,000			26,597
U.S. Treasury 2.625% 2026		142,585			158,786
U.S. Treasury 0.375% 2027		145,699			143,717
U.S. Treasury 0.375% 2027		75,000			73,829
U.S. Treasury 0.50% 2027		680,216			675,793
U.S. Treasury 0.50% 202712		556,100			554,558
U.S. Treasury 0.50% 2027		56,100			55,636
U.S. Treasury 0.50% 2027		16,000			15,939
U.S. Treasury 0.50% 2027		6,000			5,973
U.S. Treasury 0.625% 2027		51,000			50,924
U.S. Treasury 0.625% 2027		42,000			41,977
U.S. Treasury 0.625% 2027		8,000			8,045
U.S. Treasury 2.25% 2027		220,486			244,735
U.S. Treasury 2.25% 2027		3,000			3,315
U.S. Treasury 2.75% 2028		17,398			19,942
U.S. Treasury 2.875% 2028		61,335			71,032
U.S. Treasury 2.875% 2028		3,760			4,366
U.S. Treasury 1.625% 2029		398			426
U.S. Treasury 2.375% 2029		3,795			4,288
U.S. Treasury 0.625% 2030		278,436			271,382
U.S. Treasury 0.625% 2030		17,638			17,240

42 The Bond Fund of America

Bonds, notes & other debt instruments (continued)	Principal amount (000)		Value (000)
U.S. Treasury bonds & notes (continued)
U.S. Treasury (continued)
U.S. Treasury 0.875% 2030	$	728,599	$	725,810
U.S. Treasury 1.50% 2030		31,576		33,397
U.S. Treasury 1.125% 2040		266,476		252,937
U.S. Treasury 1.125% 2040		148,245		140,326
U.S. Treasury 1.375% 2040		1,500		1,483
U.S. Treasury 4.625% 2040		9,400		14,647
U.S. Treasury 3.125% 2041		20,000		26,153
U.S. Treasury 4.375% 2041		11,500		17,628
U.S. Treasury 2.75% 2042		7,000		8,677
U.S. Treasury 2.875% 2043		23,810		30,105
U.S. Treasury 3.00% 2044		5,900		7,636
U.S. Treasury 3.375% 2044		38,700		52,919
U.S. Treasury 3.00% 204512		15,100		19,651
U.S. Treasury 3.00% 2045		5,560		7,214
U.S. Treasury 2.25% 2046		4,500		5,138
U.S. Treasury 2.50% 2046		194,262		232,072
U.S. Treasury 2.50% 2046		27,000		32,264
U.S. Treasury 2.875% 2046		13,854		17,703
U.S. Treasury 2.75% 2047		32,098		40,254
U.S. Treasury 2.75% 2047		5,300		6,653
U.S. Treasury 3.00% 204712		86,916		113,835
U.S. Treasury 3.00% 2047		38,950		50,934
U.S. Treasury 3.00% 204812		179,901		236,149
U.S. Treasury 3.00% 2048		11,100		14,603
U.S. Treasury 3.125% 2048		11,150		14,969
U.S. Treasury 3.375% 2048		12,545		17,620
U.S. Treasury 2.25% 2049		193,147		221,074
U.S. Treasury 2.375% 2049		140,608		165,169
U.S. Treasury 2.875% 2049		241,100		311,247
U.S. Treasury 3.00% 204912		74,066		97,669
U.S. Treasury 1.25% 2050		773,540		701,559
U.S. Treasury 1.375% 205012		1,863,336		1,743,615
U.S. Treasury 1.625% 2050		1,121,794		1,116,448
U.S. Treasury 2.00% 2050		57,011		61,908
				18,242,578
U.S. Treasury inflation-protected securities 1.62%
U.S. Treasury Inflation-Protected Security 0.125% 202113		175,782		176,438
U.S. Treasury Inflation-Protected Security 1.125% 202113		130,935		130,969
U.S. Treasury Inflation-Protected Security 0.125% 202413		20,298		21,764
U.S. Treasury Inflation-Protected Security 0.50% 202413		30,973		33,212
U.S. Treasury Inflation-Protected Security 0.125% 202513		117,031		127,247
U.S. Treasury Inflation-Protected Security 0.375% 202713		28,527		32,112
U.S. Treasury Inflation-Protected Security 1.75% 202813		5,220		6,411
U.S. Treasury Inflation-Protected Security 0.125% 203013		57,313		63,929
U.S. Treasury Inflation-Protected Security 0.125% 203013		52,810		59,244
U.S. Treasury Inflation-Protected Security 2.125% 204113		4,066		6,384
U.S. Treasury Inflation-Protected Security 0.75% 204212,13		219,233		279,457
U.S. Treasury Inflation-Protected Security 1.00% 204912,13		18,290		25,793
U.S. Treasury Inflation-Protected Security 0.25% 205013		143,512		170,952
				1,133,912
Total U.S. Treasury bonds & notes				19,376,490

The Bond Fund of America 43

Bonds, notes & other debt instruments (continued)	Principal amount (000)		Value (000)
Municipals 2.13%
Arizona 0.01%
Board of Regents of Arizona State University System, Rev. Bonds, Series 2020-A, 4.00% 2038	$	1,000	$	1,212
Board of Regents of Arizona State University System, Rev. Bonds, Series 2020-A, 5.00% 2030		500		689
Board of Regents of Arizona State University System, Rev. Bonds, Series 2020-A, 5.00% 2031		675		924
Board of Regents of Arizona State University System, Rev. Bonds, Series 2020-A, 5.00% 2032		700		953
Board of Regents of Arizona State University System, Rev. Bonds, Series 2020-A, 5.00% 2037		1,500		2,006
Board of Regents of Arizona State University System, Rev. Bonds, Series 2020-A, 5.00% 2039		1,750		2,328
				8,112
California 0.07%
City and County of San Francisco, Public Utilities Commission, San Francisco Water Rev. Bonds, Series 2020-D, 3.00% 2050		1,000		1,089
City of San Francisco, Bay Area Rapid Transit Dist., G.O. Green Bonds, 2016 Election, Series 2020-C-1, 3.00% 2050		14,000		15,194
Dept. of Veterans Affairs, Veterans G.O. Rev. Ref. Bonds, Series 2015-CM, AMT, 2.45% 2031		445		453
Los Angeles Unified School Dist., G.O. Dedicated Unlimited Ad Valorem Property Tax Bonds, Series 2020-C, 3.00% 2045		8,770		9,535
Regents of the University of California, General Rev. Bonds, Series 2020-BG, 1.316% 2027		6,585		6,694
Regents of the University of California, General Rev. Bonds, Series 2020-BG, 1.614% 2030		5,150		5,208
Trustees of California State University, Systemwide Rev. Bonds, Series 2020-C, 3.00% 2051		13,000		14,102
				52,275
Connecticut 0.02%
Housing Fin. Auth., Housing Mortgage Fin. Program Bonds, Series 2019-D-1, 4.00% 2049		12,620		14,452
Housing Fin. Auth., Housing Mortgage Fin. Program Rev. Ref. Bonds, Series 2015-C-1, 3.50% 2045		2,410		2,533
				16,985
Florida 0.01%
County of Hillsborough, Aviation Auth., Tampa International Airport Rev. Bonds, Series 2018-F, 5.00% 2043		7,500		9,184
Illinois 0.77%
City of Chicago, Board of Education, Unlimited Tax G.O. Bonds (Dedicated Rev.), Series 2009-E, 6.138% 2039		56,485		59,613
City of Chicago, Board of Education, Unlimited Tax G.O. Bonds (Dedicated Rev.), Series 2010-C, 6.319% 2029		14,400		15,426
City of Chicago, Board of Education, Unlimited Tax G.O. Bonds (Dedicated Rev.), Series 2010-D, 6.519% 2040		5,770		5,990
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		1,120
City of Chicago, Board of Education, Unlimited Tax G.O. Bonds (Dedicated Rev.), Series 2017-A, 7.00% 20464		7,760		9,816
City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2017-C, 5.00% 2026		960		1,100
City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2017-C, 5.00% 2030		1,915		2,203
City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2017-C, 5.00% 2034		425		483
City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2017-D, 5.00% 2031		850		974
City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2017-G, 5.00% 2044		660		740
City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2017-H, 5.00% 2036		850		960
City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2017-H, 5.00% 2046		2,415		2,694

44 The Bond Fund of America

Bonds, notes & other debt instruments (continued)	Principal amount (000)		Value (000)
Municipals (continued)
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	$	733
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		940
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		461
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		251
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		267
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		251
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		525
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		522
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		263
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		277
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		1,201
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		801
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		304
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		582
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		1,672
City of Chicago, Transit Auth., Sales Tax Receipts Rev. Bonds, Series 2020-A, 4.00% 2055		2,000		2,248
G.O. Bonds, Pension Funding Series 2003, 4.95% 2023		43,216		44,288
G.O. Bonds, Pension Funding Series 2003, 5.10% 2033		162,050		174,523
G.O. Bonds, Pension Funding Series 2003, Assured Guaranty Municipal insured, 5.10% 2033		12,860		14,829
G.O. Bonds, Series 2012, 5.00% 2024		5,000		5,188
G.O. Bonds, Series 2013-B, 4.11% 2022		2,280		2,312
G.O. Bonds, Series 2013-B, 4.31% 2023		7,325		7,498
G.O. Bonds, Series 2013-B, 4.91% 2027		3,250		3,363
G.O. Bonds, Series 2017-A, 5.00% 2025		2,500		2,852
G.O. Bonds, Series 2019-A, 5.00% 2024		6,500		7,272
G.O. Bonds, Series 2019-A, 5.70% 2031		7,530		8,100
G.O. Bonds, Series 2020, 5.50% 2030		6,000		7,489
G.O. Bonds, Series 2020-A, 3.24% 2025		2,245		2,212
G.O. Bonds, Taxable Build America Bonds, Series 2010-1, 6.63% 2035		7,745		8,879
G.O. Bonds, Taxable Build America Bonds, Series 2010-2, 5.85% 2022		3,155		3,260
G.O. Bonds, Taxable Build America Bonds, Series 2010-2, 5.95% 2023		6,495		6,870
G.O. Bonds, Taxable Build America Bonds, Series 2010-2, 6.05% 2024		1,905		2,058
G.O. Bonds, Taxable Build America Bonds, Series 2010-2, 6.15% 2025		6,205		6,845
G.O. Bonds, Taxable Build America Bonds, Series 2010-3, 5.827% 2021		2,065		2,081
G.O. Bonds, Taxable Build America Bonds, Series 2010-5, 6.20% 2021		2,218		2,256
G.O. Rev. Ref. Bonds, Series 2019-B, 5.00% 2025		11,000		12,492
Housing Dev. Auth., Multi Family Housing Rev. Notes (Marshall Field Garden Apartment Homes), Series 2015, (SIFMA Municipal Swap Index + 1.00%) 1.09% 2050 (put 2025)3		6,275		6,343
Housing Dev. Auth., Rev. Bonds, Series 2016-A, 4.00% 2046		875		940
Taxable G.O. Bonds, Series 2012-B, 4.85% 2022		2,305		2,350
Toll Highway Auth., Toll Highway Rev. Bonds, Series 2014-C, 5.00% 2038		12,865		14,747
Toll Highway Auth., Toll Highway Rev. Bonds, Series 2019-A, 4.00% 2044		20,000		23,146
Toll Highway Auth., Toll Highway Rev. Bonds, Series 2019-A, 5.00% 2044		30,000		38,072
Toll Highway Auth., Toll Highway Rev. Bonds, Series 2020-A, 5.00% 2045		14,000		18,035
				541,078
Iowa 0.00%
Fin. Auth., Single Family Mortgage Bonds (Mortgage-Backed Securities Program), Series 2016-A, 4.00% 2046		800		852

The Bond Fund of America 45

Bonds, notes & other debt instruments (continued)	Principal amount (000)		Value (000)
Municipals (continued)
Kentucky 0.00%
Housing Corp., Housing Rev. Bonds, Series 2013-D, 3.50% 2033	$	970	$	1,024
Maine 0.00%
Housing Auth., Mortgage Purchase Rev. Ref. Bonds, Series 2015-E-1, AMT, 3.50% 2035		2,620		2,745
Maryland 0.06%
Community Dev. Administration, Dept. of Housing and Community Dev., Residential Rev. Bonds, Series 2014-B, AMT, 3.25% 2044		1,965		2,030
G.O. Bonds, State and Local Facs. Loan of 2020, Series 2020-B-2, 5.00% 2028		15,115		20,164
Transportation Auth., Transportation Facs. Projects Rev. Bonds, Series 2020. 4.00% 2050		16,705		19,890
				42,084
Massachusetts 0.00%
Housing Fin. Agcy., Single Family Housing Rev. Bonds, Series 178, 3.50% 2042		555		587
Michigan 0.02%
Fin. Auth., Local Government Loan Program Rev. Bonds (Detroit Fin. Recovery Income Tax Local Project Bonds), Series 2014-F-2, 4.60% 2022		2,650		2,691
Housing Dev. Auth., Single Family Mortgage Rev. Bonds, Series 2016-B, 3.50% 2047		10,685		11,436
				14,127
Minnesota 0.01%
Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2014-C, AMT, 4.00% 2045		3,480		3,709
Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2015-A, AMT, 4.00% 2041		430		453
Housing Fin. Agcy., Residential Housing Fin. Bonds, Series 2015-E, AMT, 3.50% 2046		2,195		2,313
				6,475
Missouri 0.00%
Housing Dev. Commission, Single Family Mortgage Rev. Bonds (Special Homeownership Loan Program), Series 2015-A, 3.75% 2038		830		884
Nebraska 0.01%
Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2015-C, 3.50% 2045		735		767
Investment Fin. Auth., Single Family Housing Rev. Bonds, Series 2016-A, 3.50% 2046		2,505		2,663
				3,430
New Jersey 0.01%
Econ. Dev. Auth., State Pension Funding Bonds, Series 1997-A, National insured, 7.425% 2029		4,400		5,680
New York 0.82%
Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2019-A, 5.00% 2042		1,860		2,339
Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2019-D, 4.00% 2038		2,500		2,991
Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2019-D, 4.00% 2047		16,080		18,771
Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-A, 3.00% 2041		23,585		25,606
Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-A, 3.00% 2042		9,930		10,731
Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-A, 4.00% 2043		15,000		17,858
Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-A, 4.00% 2045		4,590		5,428
Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-A, 4.00% 2046		28,455		33,536
Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-A, 5.00% 2032		25,410		34,452
Dormitory Auth., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-A, 5.00% 2033		5,000		6,720

46 The Bond Fund of America

Bonds, notes & other debt instruments (continued)	Principal amount (000)		Value (000)
Municipals (continued)
Metropolitan Transportation Auth., Transportation Rev. Green Bonds, Series 2020-C-1, 4.75% 2045	$	34,900	$	41,000
Metropolitan Transportation Auth., Transportation Rev. Green Bonds, Series 2020-D-2, 4.00% 2047		10,000		11,091
Metropolitan Transportation Auth., Transportation Rev. Ref. Green Bonds, Series 2020-E, 4.00% 2045		8,290		9,210
Mortgage Agcy., Homeowner Mortgage Rev. Bonds, Series 52, AMT, 3.50% 2030		1,335		1,398
New York City G.O. Bonds, Fiscal 2020, Series 2020-B-1, 4.00% 2040		5,000		5,907
New York City G.O. Bonds, Fiscal 2020, Series 2020-D-1, 4.00% 2050		59,475		69,064
New York City Industrial Dev. Agcy., PILOT Rev. Ref. Bonds (Yankee Stadium Project), Series 2020-A, Assured Guaranty Municipal insured, 4.00% 2045		950		1,112
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		38,944
New York City Transitional Fin. Auth., Building Aid Rev. Bonds, Fiscal 2019, Series 2019-S-1, 5.00% 2043		10,000		12,383
New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2017, Series 2017-F-1, 4.00% 2037		9,650		11,144
New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2020, Series 2020-C-1, 4.00% 2039		3,500		4,251
New York City Transitional Fin. Auth., Future Tax Secured Bonds, Fiscal 2020, Series 2020-C-1, 4.00% 2045		20,145		23,976
Power Auth., Rev. Bonds, Series 2020-A, 4.00% 2055		45,340		53,200
Power Auth., Rev. Bonds, Series 2020-A, 4.00% 2060		17,195		20,062
Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2019-A, 5.00% 2040		10,000		12,573
Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-A, 4.00% 2045		6,760		8,000
Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-A, 4.00% 2049		26,485		31,182
Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-C, 4.00% 2039		5,000		6,026
Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-C, 4.00% 2041		31,665		37,955
Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-C, 4.00% 2042		3,795		4,532
Urban Dev. Corp., State Personal Income Tax Rev. Bonds (General Purpose), Series 2020-C, 4.00% 2049		8,000		9,419
Urban Dev. Corp., State Sales Tax Rev. Bonds, Series 2019-A, 5.00% 2038		2,000		2,583
				573,444
North Carolina 0.02%
Limited Obligation Rev. Ref. Bonds, Series 2020-B, 3.00% 2033		8,700		10,126
Limited Obligation Rev. Ref. Bonds, Series 2020-B, 3.00% 2034		5,025		5,824
				15,950
Ohio 0.13%
County of Hamilton, Hospital Facs. Rev. Bonds (UC Health), Series 2020, 5.00% 2050		16,030		19,334
Water Dev. Auth., Water Pollution Control Loan Fund Rev. Bonds, Series 2020-A, 5.00% 2036		15,000		20,208
Water Dev. Auth., Water Pollution Control Loan Fund Rev. Bonds, Series 2020-A, 5.00% 2037		8,000		10,746
Water Dev. Auth., Water Pollution Control Loan Fund Rev. Bonds, Series 2020-A, 5.00% 2038		10,000		13,384
Water Dev. Auth., Water Pollution Control Loan Fund Rev. Bonds, Series 2020-A, 5.00% 2039		7,500		10,009
Water Dev. Auth., Water Pollution Control Loan Fund Rev. Bonds, Series 2020-A, 5.00% 2050		15,000		19,554
				93,235
Pennsylvania 0.02%
Turnpike Commission, Turnpike Rev. Bonds, Series 2019-A, 5.00% 2049		8,605		10,746

The Bond Fund of America 47

Bonds, notes & other debt instruments (continued)	Principal amount (000)		Value (000)
Municipals (continued)
South Carolina 0.03%
Housing Fin. and Dev. Auth., Mortgage Rev. Ref. Bonds, Series 2016-A, 4.00% 2036	$	660	$	718
Housing Fin. Auth., Mortgage Rev. Ref. Bonds, Series 2014, AMT, 4.00% 2041		2,750		2,906
Jobs-Econ. Dev. Auth., Hospital Facs. Rev. Bonds (Bon Secours Mercy Health, Inc.), Series 2020-A, 4.00% 2044		7,205		8,363
Public Service Auth., Rev. Ref. and Improvement Obligations (Santee Cooper), Series 2020-A, 4.00% 2040		8,000		9,511
				21,498
Tennessee 0.01%
Housing Dev. Agcy., Homeownership Program Bonds, Series 2015-A, 3.50% 2045		905		969
Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2013-2-A, AMT, 4.00% 2043		480		501
Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2015-1-A, AMT, 4.00% 2045		2,205		2,343
Housing Dev. Agcy., Residential Fin. Program Bonds, Series 2015-2-A, AMT, 4.00% 2046		2,815		3,003
				6,816
Texas 0.07%
Grand Parkway Transportation Corp., Grand Parkway System Toll Rev. Ref. Bonds, Series 2020-B, 3.236% 2052		8,155		8,536
North Texas Tollway Auth. System, Rev. Ref. First Tier Bonds, Series 2020-A, 3.00% 2038		10,000		10,941
SA Energy Acquisition Public Fac. Corp., Gas Supply Rev. Bonds, Series 2007, 5.50% 2023		6,000		6,749
Water Dev. Board, State Revolving Fund, Rev. Bonds, Series 2020, 4.00% 2035		5,400		6,801
Water Dev. Board, State Revolving Fund, Rev. Bonds, Series 2020, 4.00% 2036		5,180		6,510
Water Dev. Board, State Revolving Fund, Rev. Bonds, Series 2020, 4.00% 2037		2,750		3,451
Water Dev. Board, State Revolving Fund, Rev. Bonds, Series 2020, 4.00% 2038		3,000		3,759
				46,747
Utah 0.00%
Housing Corp., Single Family Mortgage Bonds, Class III, Series 2015-D-2, 4.00% 2045		745		804
Washington 0.03%
G.O. Bonds, Series 2019-A, 5.00% 2031		10,495		13,753
G.O. Bonds, Series 2020-C, 5.00% 2038		5,000		6,640
				20,393
Wisconsin 0.01%
Housing and Econ. Dev. Auth., Home Ownership Rev. Bonds, Series 2015-A, AMT, 4.00% 2045		1,375		1,445
Housing and Econ. Dev. Auth., Home Ownership Rev. Bonds, Series 2016-A, AMT, 3.50% 2046		1,955		2,051
				3,496
Wyoming 0.00%
Community Dev. Auth., Housing Rev. Bonds, Series 2015-6, 4.00% 2045		525		551
Total municipals				1,499,202
Asset-backed obligations 1.61%
Aesop Funding LLC, Series 2019-1A, Class A, 3.45% 20231,4		5,705		5,859
Aesop Funding LLC, Series 2017-2A, Class A, 2.97% 20241,4		6,155		6,404
Aesop Funding LLC, Series 2018-1A, Class A, 3.70% 20241,4		1,350		1,425
Aesop Funding LLC, Series 2019-2A, Class A, 3.35% 20251,4		3,500		3,745
Aesop Funding LLC, Series 2018-2A, Class A, 4.00% 20251,4		28,000		30,396
Aesop Funding LLC, Series 2020-1A, Class A, 2.33% 20261,4		34,264		35,461
Aesop Funding LLC, Series 2019-3A, Class A, 2.36% 20261,4		8,750		9,147
Aesop Funding LLC, Series 2020-2, Class A, 2.02% 20271,4		25,453		26,012
Aesop Funding LLC, Series 2020-2A, Class B, 2.96% 20271,4		3,827		3,913
Aesop Funding LLC, Series 2020-2A, Class C, 4.25% 20271,4		8,238		8,478
Affirm Asset Securitization Trust, Series 2020-A, Class A, 2.10% 20251,4		3,186		3,206
American Credit Acceptance Receivables Trust, Series 2020-3, Class B, 1.15% 20241,4		2,160		2,172
American Credit Acceptance Receivables Trust, Series 2020-3, Class C, 1.85% 20261,4		7,643		7,778
American Credit Acceptance Receivables Trust, Series 2020-1, Class D, 2.39% 20261,4		1,530		1,570
AmeriCredit Automobile Receivables Trust, Series 2016-3, Class C, 2.24% 20221		252		252
AmeriCredit Automobile Receivables Trust, Series 2017-1, Class C, 2.71% 20221		3,786		3,809
AmeriCredit Automobile Receivables Trust, Series 2020-2, Class C, 1.48% 20261		4,500		4,566
Bankers Healthcare Group Securitization Trust, Series 2020-A, Class A, 2.56% 20311,4		928		931
Bankers Healthcare Group Securitization Trust, Series 2020-A, Class B, 3.59% 20311,4		4,310		4,300

48 The Bond Fund of America

Bonds, notes & other debt instruments (continued)	Principal amount (000)		Value (000)
Asset-backed obligations (continued)
CarMaxAuto Owner Trust, Series 2019-2, Class C, 3.16% 20251	$	650	$	682
CF Hippolyta LLC, Series 2020-1, Class A1, 1.69% 20601,4		94,521		96,539
CF Hippolyta LLC, Series 2020-1, Class A2, 1.99% 20601,4		13,108		13,330
CF Hippolyta LLC, Series 2020-1, Class B1, 2.28% 20601,4		11,395		11,607
CF Hippolyta LLC, Series 2020-1, Class B2, 2.60% 20601,4		1,489		1,510
CLI Funding V LLC, Series 2020-3A, Class B, 3.30% 20451,4		2,030		2,051
CLI Funding V LLC, Series 2020-2A, Class B, 3.56% 20451,4		679		693
CLI Funding V LLC, Series 2020-1A, Class B, 3.62% 20451,4		1,198		1,210
Cloud Pass-Through Trust, Series 2019-1A, Class CLOU, 3.554% 20221,3,4		7,693		7,789
CPS Auto Receivables Trust, Series 2019-D, Class A, 2.17% 20221,4		4,300		4,312
CPS Auto Receivables Trust, Series 2018-A, Class C, 3.05% 20231,4		478		481
CPS Auto Receivables Trust, Series 2019-B, Class B, 3.09% 20231,4		1,399		1,408
CPS Auto Receivables Trust, Series 2019-B, Class C, 3.35% 20241,4		2,570		2,622
CPS Auto Receivables Trust, Series 2019-C, Class C, 2.84% 20251,4		2,169		2,217
CPS Auto Receivables Trust, Series 2019-C, Class D, 3.17% 20251,4		4,273		4,428
CPS Auto Receivables Trust, Series 2019-B, Class D, 3.69% 20251,4		5,325		5,491
CPS Auto Receivables Trust, Series 2020-C, Class C, 1.71% 20261,4		2,829		2,871
CPS Auto Receivables Trust, Series 2020-B, Class C, 3.30% 20261,4		681		708
CPS Auto Receivables Trust, Series 2020-B, Class D, 4.75% 20261,4		598		647
Credit Acceptance Auto Loan Trust, Series 2017-3A, Class C, 3.48% 20261,4		2,695		2,718
Credit Acceptance Auto Loan Trust, Series 2018-3A, Class C, 4.04% 20271,4		1,485		1,529
Credit Acceptance Auto Loan Trust, Series 2020-2A, Class A, 1.37% 20291,4		3,739		3,792
Credit Acceptance Auto Loan Trust, Series 2020-2A, Class B, 1.93% 20291,4		2,839		2,882
Credit Acceptance Auto Loan Trust, Series 2020-1A, Class A, 2.01% 20291,4		15,748		16,109
Credit Acceptance Auto Loan Trust, Series 2020-1A, Class B, 2.39% 20291,4		4,118		4,219
Credit Acceptance Auto Loan Trust, Series 2020-2A, Class C, 2.73% 20291,4		2,092		2,149
CWHEQ Revolving Home Equity Loan Trust, Series 2005-C, Class 2A, FSA insured, (1-month USD-LIBOR + 0.18%) 0.339% 20351,3		1,317		1,280
CWHEQ Revolving Home Equity Loan Trust, Series 2006-I, Class 2A, FSA insured, (1-month USD-LIBOR + 0.14%) 0.299% 20371,3		2,256		2,168
CWHEQ Revolving Home Equity Loan Trust, Series 2007-B, Class A, FSA insured, (1-month USD-LIBOR + 0.15%) 0.309% 20371,3		3,432		3,323
Drive Auto Receivables Trust, Series 2020-1, Class A2, 1.99% 20221		5,368		5,380
Drive Auto Receivables Trust, Series 2019-2, Class B, 3.17% 20231		3,921		3,947
Drive Auto Receivables Trust, Series 2019-3, Class B, 2.65% 20241		3,970		4,012
Drive Auto Receivables Trust, Series 2018-2, Class C, 3.63% 20241		50		50
Drive Auto Receivables Trust, Series 2018-3, Class C, 3.72% 20241		33		33
Drive Auto Receivables Trust, Series 2018-1, Class D, 3.81% 20241		51		52
Drive Auto Receivables Trust, Series 2020-2, Class B, 1.42% 20251		1,535		1,556
Drive Auto Receivables Trust, Series 2019-3, Class C, 2.90% 20251		12,690		13,076
Drive Auto Receivables Trust, Series 2019-2, Class C, 3.42% 20251		8,760		9,002
Drive Auto Receivables Trust, Series 2020-2, Class C, 2.28% 20261		1,874		1,936
Drive Auto Receivables Trust, Series 2019-3, Class D, 3.18% 20261		6,030		6,285
Drive Auto Receivables Trust, Series 2020-2, Class D, 3.05% 20281		2,586		2,731
Drivetime Auto Owner Trust, Series 2019-3, Class A, 2.55% 20221,4		1,180		1,182
Drivetime Auto Owner Trust, Series 2019-2A, Class A, 2.85% 20221,4		219		219
Drivetime Auto Owner Trust, Series 2018-3A, Class B, 3.56% 20221,4		41		41
Drivetime Auto Owner Trust, Series 2020-1, Class A, 1.94% 20231,4		6,873		6,906
Drivetime Auto Owner Trust, Series 2019-4A, Class A, 2.17% 20231,4		8,467		8,505
Drivetime Auto Owner Trust, Series 2019-3, Class B, 2.60% 20231,4		1,570		1,582
Drivetime Auto Owner Trust, Series 2019-2A, Class B, 2.99% 20231,4		3,240		3,267
Drivetime Auto Owner Trust, Series 2020-1, Class B, 2.16% 20241,4		2,000		2,028
Drivetime Auto Owner Trust, Series 2018-2A, Class C, 3.67% 20241,4		32		33
Drivetime Auto Owner Trust, Series 2019-3, Class C, 2.74% 20251,4		1,925		1,964
Drivetime Auto Owner Trust, Series 2019-3, Class D, 2.96% 20251,4		2,870		2,969
Drivetime Auto Owner Trust, Series 2019-2A, Class C, 3.18% 20251,4		5,765		5,886
Drivetime Auto Owner Trust, Series 2019-2A, Class D, 3.48% 20251,4		6,800		7,062
Drivetime Auto Owner Trust, Series 2020-3A, Class C, 1.47% 20261,4		3,269		3,302
Drivetime Auto Owner Trust, Series 2020-2A, Class C, 3.28% 20261,4		1,861		1,958
Drivetime Auto Owner Trust, Series 2020-2A, Class D, 4.73% 20261,4		1,813		1,979
Dryden Senior Loan Fund, Series 2014-33A, Class AR3, CLO, (3-month USD-LIBOR + 1.00%) 1.237% 20291,3,4		2,691		2,691
Exeter Automobile Receivables Trust, Series 2017-3A, Class B, 2.81% 20221,4		835		836
Exeter Automobile Receivables Trust, Series 2020-2A, Class A, 1.13% 20231,4		1,183		1,186
Exeter Automobile Receivables Trust, Series 2020-1A, Class A, 2.05% 20231,4		11,424		11,471
Exeter Automobile Receivables Trust, Series 2019-4A, Class A, 2.18% 20231,4		3,617		3,629
Exeter Automobile Receivables Trust, Series 2019-3A, Class B, 2.58% 20231,4		8,010		8,059

The Bond Fund of America 49

Bonds, notes & other debt instruments (continued)	Principal amount (000)		Value (000)
Asset-backed obligations (continued)
Exeter Automobile Receivables Trust, Series 2019-2A, Class B, 3.06% 20231,4	$	5,632	$	5,661
Exeter Automobile Receivables Trust, Series 2017-3A, Class C, 3.68% 20231,4		1,750		1,790
Exeter Automobile Receivables Trust, Series 2020-2A, Class B, 2.08% 20241,4		1,580		1,612
Exeter Automobile Receivables Trust, Series 2020-1A, Class B, 2.26% 20241,4		3,500		3,549
Exeter Automobile Receivables Trust, Series 2019-3A, Class C, 2.79% 20241,4		9,000		9,194
Exeter Automobile Receivables Trust, Series 2019-2A, Class C, 3.30% 20241,4		7,850		8,016
Exeter Automobile Receivables Trust, Series 2019-1A, Class C, 3.82% 20241,4		4,150		4,214
Exeter Automobile Receivables Trust, Series 2020-3A, Class C, 1.32% 20251		3,432		3,462
Exeter Automobile Receivables Trust, Series 2020-1A, Class C, 2.49% 20251,4		6,890		7,046
Exeter Automobile Receivables Trust, Series 2019-3A, Class D, 3.11% 20251,4		9,000		9,307
Exeter Automobile Receivables Trust, Series 2020-2A, Class C, 3.28% 20251,4		2,715		2,841
Exeter Automobile Receivables Trust, Series 2019-2A, Class D, 3.71% 20251,4		10,000		10,452
Exeter Automobile Receivables Trust, Series 2020-3A, Class D, 1.73% 20261		2,977		3,021
Exeter Automobile Receivables Trust, Series 2020-2, Class D, 4.73% 20261,4		2,055		2,235
First Investors Auto Owner Trust, Series 2019-1A, Class A, 2.89% 20241,4		541		547
FirstKey Homes Trust, Series 2020-SFR2, Class A, 1.266% 20371,4		67,372		67,860
Ford Credit Auto Owner Trust, Series 2020-B, Class C, 2.04% 20261		2,535		2,625
Ford Credit Auto Owner Trust, Series 2016-2, Class A, 2.03% 20271,4		33,660		33,933
Ford Credit Auto Owner Trust, Series 2018-1, Class A, 3.52% 20301,4		6,260		6,834
Ford Credit Auto Owner Trust, Series 2020-1, Class A, 2.04% 20311,4		84,891		89,615
Ford Credit Auto Owner Trust, Series 2018-1, Class A, 3.19% 20311,4		19,385		21,329
Ford Credit Floorplan Master Owner Trust, Series 2019-3, Class A1, 2.23% 20241		2,625		2,709
Ford Credit Floorplan Master Owner Trust, Series 2020-2, Class A, 1.06% 20271		1,700		1,729
GCI Funding I LLC, Series 2020-1, Class A, 2.82% 20451,4		6,567		6,607
GCI Funding I LLC, Series 2020-1, Class B, 3.81% 20451,4		978		953
Global SC Finance V SRL, Series 2019-1A, Class B, 4.81% 20391,4		10,492		10,548
Global SC Finance V SRL, Series 2020-1A, Class A, 2.17% 20401,4		13,857		14,029
Global SC Finance V SRL, Series 2020-1A, Class B, 3.55% 20401,4		1,525		1,545
Global SC Finance VII SRL, Series 2020-2A, Class A, 2.26% 20401,4		7,466		7,567
Global SC Finance VII SRL, Series 2020-2A, Class B, 3.32% 20401,4		1,459		1,478
GM Financial Automobile Leasing Trust, Series 2020-2, Class B, 1.56% 20241		941		959
GM Financial Automobile Leasing Trust, Series 2020-2, Class C, 2.56% 20241		786		813
GM Financial Automobile Leasing Trust, Series 2020-2, Class D, 3.21% 20241		1,111		1,160
GM Financial Automobile Leasing Trust, Series 2019-4, Class C, 2.24% 20251		1,521		1,567
GM Financial Automobile Leasing Trust, Series 2020-4, Class C, 1.05% 20261		3,700		3,720
GM Financial Consumer Automobile Receivables Trust, Series 2018-1, Class B, 2.57% 20231		765		777
GM Financial Consumer Automobile Receivables Trust, Series 2018-1, Class C, 2.77% 20231		530		539
Henderson Receivables LLC, Series 2006-3A, Class A1, (1-month USD-LIBOR + 0.20%) 0.359% 20411,3,4		674		657
Henderson Receivables LLC, Series 2006-4A, Class A1, (1-month USD-LIBOR + 0.20%) 0.359% 20411,3,4		443		439
Hertz Vehicle Financing LLC, Rental Car Asset-Backed Notes, Series 2016-4A, Class A, 2.65% 20221,4		838		840
Hertz Vehicle Financing LLC, Rental Car Asset-Backed Notes, Series 2017-2A, Class A, 3.29% 20231,4		3,419		3,426
Hertz Vehicle Financing LLC, Rental Car Asset-Backed Notes, Series 2018-1A, Class A, 3.29% 20241,4		3,671		3,678
Hertz Vehicle Financing LLC, Rental Car Asset-Backed Notes, Series 2018-3A, Class A, 4.03% 20241,4		2,232		2,237
Hertz Vehicle Financing LLC, Rental Car Asset-Backed Notes, Series 2019-3A, Class A, 2.67% 20251,4		5,329		5,340
Hertz Vehicle Financing LLC, Rental Car Asset-Backed Notes, Series 2019-2A, Class A, 3.42% 20251,4		3,297		3,310
Home Equity Asset Trust, Series 2004-7, Class M1, (1-month USD-LIBOR + 0.62%) 1.078% 20351,3		1,347		1,348
OSW Structured Asset Trust, Series 2020-RPL1, Class A1, 3.072% 20601,3,4		8,816		9,021
Palmer Square Loan Funding, CLO, Series 2020-4, Class A1, (3-month USD-LIBOR + 1.00%) 1.134% 20281,3,4		18,698		18,719
Palmer Square Loan Funding, CLO, Series 2019-2, Class A1, (3-month USD-LIBOR + 0.97%) 1.188% 20271,3,4		13,320		13,304
Palmer Square Loan Funding, CLO, Series 2019-1A, Class A1, (3-month USD-LIBOR + 1.05%) 1.268% 20271,3,4		23,369		23,371
Palmer Square Ltd., Series 2015-1A, Class A1R3, (3-month USD-LIBOR + 1.00%) 1.245% 20291,3,4		3,564		3,564
Prestige Auto Receivables Trust, Series 2019-1A, Class C, 2.70% 20241,4		3,940		4,044

50 The Bond Fund of America

Bonds, notes & other debt instruments (continued)	Principal amount (000)		Value (000)
Asset-backed obligations (continued)
Prestige Auto Receivables Trust, Series 2019-1A, Class D, 3.01% 20251,4	$	2,435	$	2,520
Residential Funding Mortgage Securities II, Inc., Series 2006-HSA3, Class A, FSA insured, (1-month USD-LIBOR + 0.13%) 0.278% 20361,3		211		208
Santander Drive Auto Receivables Trust, Series 2017-3, Class C, 2.76% 20221		640		641
Santander Drive Auto Receivables Trust, Series 2020-2, Class B, 0.96% 20241		2,700		2,718
Santander Drive Auto Receivables Trust, Series 2019-2, Class B, 2.79% 20241		4,880		4,928
Santander Drive Auto Receivables Trust, Series 2020-1, Class B, 3.03% 20241		8,621		8,930
Santander Drive Auto Receivables Trust, Series 2020-2, Class C, 1.46% 20251		6,125		6,211
Santander Drive Auto Receivables Trust, Series 2019-2, Class D, 3.22% 20251		4,975		5,177
Santander Drive Auto Receivables Trust, Series 2020-1, Class C, 4.11% 20251		25,000		26,713
Santander Drive Auto Receivables Trust, Series 2020-3, Class C, 1.12% 20261		12,159		12,266
Santander Drive Auto Receivables Trust, Series 2020-3, Class D, 1.64% 20261		5,159		5,241
Santander Drive Auto Receivables Trust, Series 2020-4, Class D, 1.48% 20271		2,000		2,022
Social Professional Loan Program LLC, Series 2015-C, Class A2, 2.51% 20331,4		825		828
Symphony Ltd., CLO, Series 2013-12A, Class AR, (3-month USD-LIBOR + 1.03%) 1.267% 20251,3,4		14,682		14,682
TAL Advantage V LLC, Series 2020-1A, Class A, 2.05% 20451,4		3,527		3,569
TAL Advantage V LLC, Series 2020-1A, Class B, 3.29% 20451,4		548		555
Textainer Marine Containers Ltd., Series 2020-2A, Class A, 2.10% 20451,4		2,703		2,748
Textainer Marine Containers Ltd., Series 2020-2A, Class B, 3.34% 20451,4		3,539		3,590
Textainer Marine Containers Ltd., Series 2020-1A, Class B, 4.94% 20451,4		7,624		8,010
Toyota Auto Loan Extended Note Trust, Series 2019-1, Class A, 2.56% 20311,4		6,000		6,414
Toyota Auto Loan Extended Note Trust, Series 2020-1, Class A, 1.35% 20331,4		5,335		5,501
Triton Container Finance LLC, Series 2020-1A, Class A, 2.11% 20451,4		16,570		16,818
Verizon Owner Trust, Series 2017-3A, Class B, 2.38% 20221,4		3,175		3,182
Voya Ltd., CLO, Series 2014-3A, Class A1R, (3-month USD-LIBOR + 0.72%) 0.935% 20261,3,4		1,392		1,390
Westlake Automobile Receivables Trust, Series 2019-3A, Class A2, 2.15% 20231,4		34,642		34,894
Westlake Automobile Receivables Trust, Series 2019-2A, Class A2, 2.57% 20231,4		1,925		1,934
Westlake Automobile Receivables Trust, Series 2019-2A, Class B, 2.62% 20241,4		1,040		1,053
Westlake Automobile Receivables Trust, Series 2018-2A, Class C, 3.50% 20241,4		148		148
Westlake Automobile Receivables Trust, Series 2020-3A, Class C, 1.24% 20251,4		4,153		4,179
Westlake Automobile Receivables Trust, Series 2020-2, Class C, 2.01% 20251,4		3,345		3,416
Westlake Automobile Receivables Trust, Series 2020-3A, Class D, 1.65% 20261,4		8,060		8,164
Westlake Automobile Receivables Trust, Series 2020-2, Class D, 2.76% 20261,4		5,225		5,408
				1,134,203
Bonds & notes of governments & government agencies outside the U.S. 1.58%
Abu Dhabi (Emirate of) 2.50% 20254		10,000		10,701
Abu Dhabi (Emirate of) 3.125% 2026		10,000		11,116
Abu Dhabi (Emirate of) 2.50% 2029		1,800		1,947
Abu Dhabi (Emirate of) 3.125% 20304		5,440		6,154
Abu Dhabi (Emirate of) 1.70% 20314		12,615		12,637
Abu Dhabi (Emirate of) 3.875% 20504		9,900		12,098
Abu Dhabi (Emirate of) 2.70% 20704		4,925		4,608
Angola (Republic of) 8.00% 20294		5,000		4,713
Argentine Republic 1.00% 2029		1,034		449
Argentine Republic 0.125% 2030 (0.50% on 7/9/2021)7		12,086		4,919
Argentine Republic 0% 2035		25,700		64
Argentine Republic 0.125% 2035 (1.125% on 7/9/2021)7		5,349		1,963
Bermuda 2.375% 20304		2,840		2,986
Bermuda 3.375% 20504		8,200		8,866
Cameroon (Republic of) 9.50% 2025		1,500		1,674
Colombia (Republic of) 4.125% 2051		18,640		20,774
Costa Rica (Republic of) 7.00% 2044		2,178		2,015
Cote d’Ivoire (Republic of) 6.375% 20284		7,275		8,342
Dominican Republic 6.875% 20264		4,300		5,198
Dominican Republic 6.40% 20494		1,648		1,940
Egypt (Arab Republic of) 4.55% 20234		5,100		5,301
Egypt (Arab Republic of) 5.577% 20234		1,690		1,789
Egypt (Arab Republic of) 4.75% 2026	€	3,000		3,816
Egypt (Arab Republic of) 6.588% 20284	$	1,610		1,775
Egypt (Arab Republic of) 5.625% 2030	€	1,060		1,358
Egypt (Arab Republic of) 7.053% 20324	$	5,100		5,569
Egypt (Arab Republic of) 8.50% 20474		2,245		2,552
Export-Import Bank of India 3.375% 2026		7,000		7,589

The Bond Fund of America 51

Bonds, notes & other debt instruments (continued)	Principal amount (000)		Value (000)
Bonds & notes of governments & government agencies outside the U.S. (continued)
Export-Import Bank of India 3.875% 2028	$	3,000	$	3,313
Export-Import Bank of India 3.25% 2030		9,100		9,757
Gabonese Republic 6.375% 2024		772		806
Gabonese Republic 6.95% 2025		700		752
Gabonese Republic 6.625% 20314		600		621
Guatemala (Republic of) 4.50% 2026		1,700		1,893
Guatemala (Republic of) 4.375% 2027		3,975		4,426
Honduras (Republic of) 7.50% 2024		3,330		3,730
Honduras (Republic of) 6.25% 20274		1,400		1,625
Honduras (Republic of) 6.25% 2027		968		1,124
Indonesia (Republic of) 3.75% 2022		4,255		4,436
Indonesia (Republic of) 3.375% 2023		19,350		20,560
Indonesia (Republic of) 3.85% 2030		750		873
Indonesia (Republic of) 4.20% 2050		1,785		2,138
Israel (State of) 2.50% 2030		1,090		1,182
Israel (State of) 2.75% 2030		4,500		4,970
Israel (State of) 3.375% 2050		4,630		5,137
Israel (State of) 3.875% 2050		23,400		28,187
Japan Bank for International Cooperation 3.125% 2021		76,664		77,856
Jordan (Hashemite Kingdom of) 6.125% 20264		2,890		3,222
Jordan (Hashemite Kingdom of) 5.75% 20274		615		680
Kazakhstan (Republic of) 6.50% 2045		3,000		4,852
Kazakhstan (Republic of) 6.50% 20454		2,250		3,639
Kenya (Republic of) 6.875% 20244		6,425		7,055
Kuwait (State of) 2.75% 20224		2,150		2,213
Morocco (Kingdom of) 4.25% 2022		5,400		5,684
Morocco (Kingdom of) 2.375% 20274		7,000		7,038
Morocco (Kingdom of) 1.50% 2031	€	15,000		17,908
Morocco (Kingdom of) 3.00% 20324	$	4,700		4,785
Morocco (Kingdom of) 5.50% 2042		8,700		10,891
Morocco (Kingdom of) 4.00% 20504		7,700		7,963
Pakistan (Islamic Republic of) 5.50% 20214		2,335		2,370
Panama (Republic of) 3.75% 20264		41,695		45,713
Panama (Republic of) 3.875% 2028		10,000		11,498
Panama (Republic of) 3.16% 2030		3,585		3,977
Panama (Republic of) 2.252% 2032		10,025		10,363
Panama (Republic of) 4.50% 2047		1,090		1,405
Panama (Republic of) 4.50% 2050		6,700		8,643
Panama (Republic of) 4.30% 2053		5,080		6,477
Panama (Republic of) 4.50% 2056		8,915		11,523
Paraguay (Republic of) 4.625% 2023		1,500		1,616
Paraguay (Republic of) 5.00% 2026		4,485		5,270
Paraguay (Republic of) 5.00% 20264		1,575		1,851
Paraguay (Republic of) 4.70% 20274		850		997
Paraguay (Republic of) 4.95% 20314		5,000		6,069
Paraguay (Republic of) 5.60% 20484		1,980		2,554
Peru (Republic of) 2.392% 2026		11,910		12,726
Peru (Republic of) 2.783% 2031		21,340		23,469
Peru (Republic of) 2.78% 2060		22,745		22,995
PETRONAS Capital Ltd. 3.50% 2030		9,000		10,363
PETRONAS Capital Ltd. 3.50% 20304		4,450		5,124
PETRONAS Capital Ltd. 4.55% 20504		5,695		7,637
Philippines (Republic of) 1.648% 2031		10,510		10,668
Philippines (Republic of) 6.375% 2034		18,000		26,473
Philippines (Republic of) 5.00% 2037		15,000		19,866
Philippines (Republic of) 3.95% 2040		4,000		4,770
Philippines (Republic of) 3.70% 2041		19,000		22,022
Philippines (Republic of) 3.70% 2042		3,500		4,070
Philippines (Republic of) 2.65% 2045		13,236		13,436
Philippines (Republic of) 2.95% 2045		15,091		15,968
Poland (Republic of) 3.25% 2026		6,600		7,455
Portuguese Republic 5.125% 2024		1,725		2,008
PT Indonesia Asahan Aluminium Tbk 5.23% 20214		3,719		3,864
PT Indonesia Asahan Aluminium Tbk 5.71% 20234		2,050		2,268
PT Indonesia Asahan Aluminium Tbk 4.75% 2025		10,000		11,060
PT Indonesia Asahan Aluminium Tbk 4.75% 20254		3,310		3,661
PT Indonesia Asahan Aluminium Tbk 6.53% 2028		8,528		10,705

52 The Bond Fund of America

Bonds, notes & other debt instruments (continued)	Principal amount (000)		Value (000)
Bonds & notes of governments & government agencies outside the U.S. (continued)
PT Indonesia Asahan Aluminium Tbk 6.53% 20284	$	2,157	$	2,708
PT Indonesia Asahan Aluminium Tbk 5.45% 20304		12,860		15,489
PT Indonesia Asahan Aluminium Tbk 6.757% 20484		655		897
PT Indonesia Asahan Aluminium Tbk 5.80% 20504		2,690		3,347
Qatar (State of) 3.875% 20234		10,830		11,653
Qatar (State of) 4.50% 20284		31,115		37,754
Qatar (State of) 3.75% 20304		24,570		28,964
Qatar (State of) 4.40% 20504		19,560		25,543
Romania 3.624% 2030	€	3,592		5,246
Romania 2.00% 2032		1,400		1,798
Romania 3.50% 2034		7,600		11,077
Romania 3.50% 2034		6,485		9,452
Romania 3.375% 2038		2,200		3,100
Romania 4.625% 2049		1,125		1,861
Romania 3.375% 2050		2,018		2,843
Russian Federation 4.375% 2029	$	23,400		27,348
Russian Federation 5.10% 2035		39,200		49,661
Russian Federation 5.10% 20354		800		1,013
Russian Federation 5.25% 2047		10,000		13,876
Saudi Arabia (Kingdom of) 2.375% 20214		750		762
Saudi Arabia (Kingdom of) 3.25% 20264		4,170		4,627
Saudi Arabia (Kingdom of) 3.625% 20284		3,110		3,491
Saudi Arabia (Kingdom of) 4.50% 2046		8,000		9,730
Tunisia (Republic of) 5.625% 2024	€	3,000		3,401
Turkey (Republic of) 4.25% 2026	$	9,300		9,243
Turkey (Republic of) 4.875% 2026		2,380		2,412
Ukraine 7.75% 2021		7,900		8,199
Ukraine 6.75% 2026	€	453		611
United Mexican States 3.25% 2030	$	5,845		6,326
United Mexican States 2.659% 2031		10,269		10,536
United Mexican States 4.75% 2032		5,920		7,139
United Mexican States 4.75% 2044		5,000		5,965
United Mexican States 5.00% 2051		10,990		13,721
United Mexican States 5.75% 2110		4,700		6,271
				1,109,227
Federal agency bonds & notes 0.18%
Fannie Mae 0.625% 2025		124,000		125,440
Total bonds, notes & other debt instruments (cost: $64,510,779,000)				67,297,782
Common stocks 0.04%		Shares
Health care 0.04%
Rotech Healthcare Inc.6,10,14,15		342,069		24,287
Consumer discretionary 0.00%
MYT Holding Co., Class B6,14		521,407		1,407
NMG Parent LLC6,14		3,867		255
NMG Parent LLC4,6,10,14		728		34
				1,696
Total common stocks (cost: $16,909,000)				25,983
Preferred securities 0.00%
Financials 0.00%
CoBank, ACB, Class E, noncumulative preferred shares4		6,250		4,094
Total preferred securities (cost: $5,820,000)				4,094
Rights & warrants 0.00%
Consumer discretionary 0.00%
NMG Parent LLC, warrants, expire 20276,14		18,410		52
Total rights & warrants (cost: $111,000)				52

The Bond Fund of America 53

Short-term securities 23.31%	Shares		Value (000)
Money market investments 23.31%
Capital Group Central Cash Fund 0.12%16,17		163,665,484	$	16,368,185
Total short-term securities (cost: $16,367,783,000)				16,368,185
Total investment securities 119.16% (cost: $80,901,402,000)				83,696,096
Other assets less liabilities (19.16%)				(13,456,705	)
Net assets 100.00%			$	70,239,391

Futures contracts

Contracts	Type	Number of contracts	Expiration	Notional amount (000)			18	Value at 12/31/2020 (000)		19	Unrealized (depreciation) appreciation at 12/31/2020 (000)
90 Day Euro Dollar Futures	Short	8,154	March 2021		$	(2,038,500	)	$	(2,035,035	)	$	(912	)
90 Day Euro Dollar Futures	Short	3,827	September 2022			(956,750	)		(954,789	)		(176	)
2 Year U.S. Treasury Note Futures	Long	3,463	April 2021			692,600			765,242			760
5 Year U.S. Treasury Note Futures	Long	37,309	April 2021			3,730,900			4,707,055			9,929
10 Year Euro-Bund Futures	Short	308	March 2021		€	(30,800	)		(66,840	)		(288	)
10 Year U.S. Treasury Note Futures	Short	15,044	March 2021		$	(1,504,400	)		(2,077,247	)		(3,233	)
10 Year Ultra U.S. Treasury Note Futures	Short	31,696	March 2021			(3,169,600	)		(4,955,967	)		6,259
20 Year U.S. Treasury Bond Futures	Long	3,988	March 2021			398,800			690,672			(5,407	)
30 Year Ultra U.S. Treasury Bond Futures	Long	2,800	March 2021			280,000			597,975			(801	)
											$	6,131

Forward currency contracts

				Unrealized
				appreciation
Contract amount				(depreciation)
Purchases	Sales		Settlement	at 12/31/2020
(000)	(000)	Counterparty	date	(000)
EUR700	USD831	Goldman Sachs	1/6/2021		$	25
USD2,337	MXN47,221	HSBC Bank	1/6/2021			(34	)
USD4,151	EUR3,451	Bank of New York Mellon	1/8/2021			(66	)
USD6,523	EUR5,362	Bank of America	1/12/2021			(30	)
USD22,307	EUR18,374	Bank of America	1/14/2021			(148	)
USD1,166	EUR960	Goldman Sachs	1/19/2021			(7	)
USD28,431	EUR23,307	Bank of New York Mellon	1/25/2021			(60	)
					$	(320	)

Swap contracts

Interest rate swaps

Receive	Pay	Expiration date	Notional (000)		Value at 12/31/2020 (000)				Upfront premium paid (received) (000)			Unrealized appreciation (depreciation) at 12/31/2020 (000)
U.S. EFFR	0.11%	5/18/2024	$	452,700		$	517			$	—		$	517
U.S. EFFR	0.1275%	6/25/2025		194,300			753				—			753
U.S. EFFR	0.105%	6/30/2025		194,400			966				—			966
U.S. EFFR	0.0975%	6/30/2025		105,483			560				—			560
U.S. EFFR	0.106%	6/30/2025		85,817			423				—			423
U.S. EFFR	0.10875%	7/6/2025		214,800			1,053				—			1,053
U.S. EFFR	0.0995%	7/9/2025		107,300			575				—			575
U.S. EFFR	0.105%	7/9/2025		107,300			548				—			548
U.S. EFFR	0.099%	7/10/2025		263,900			1,424				—			1,424
U.S. EFFR	0.1975%	10/21/2025		240,000			554				—			554
0.888%	3-month USD-LIBOR	10/26/2030		35,000			(69	)			—			(69	)

54 The Bond Fund of America

Receive	Pay	Expiration date	Notional (000)		Value at 12/31/2020 (000)			Upfront premium paid (received) (000)				Unrealized appreciation (depreciation) at 12/31/2020 (000)
U.S. EFFR	0.666%	11/19/2030	$	28,500		$	196		$	—			$	196
2.432%	3-month USD-LIBOR	9/21/2037		2,000			373			—				373
2.987%	3-month USD-LIBOR	2/7/2038		37,000			10,263			—				10,263
3.193%	3-month USD-LIBOR	5/21/2038		45,000			14,126			—				14,126
3.062%	3-month USD-LIBOR	7/31/2038		23,500			6,929			—				6,929
2.835%	3-month USD-LIBOR	1/10/2039		21,500			5,618			—				5,618
2.874%	3-month USD-LIBOR	2/6/2039		13,900			3,732			—				3,732
2.7055%	3-month USD-LIBOR	4/17/2039		41,900			10,131			—				10,131
3-month USD-LIBOR	0.81%	7/28/2045		449,300			54,903			(266	)			55,169
3-month USD-LIBOR	1.1465%	10/20/2045		45,000			2,222			—				2,222
2.5095%	3-month USD-LIBOR	7/24/2047		3,000			788			—				788
2.9075%	3-month USD-LIBOR	4/16/2048		7,000			2,536			—				2,536
3-month USD-LIBOR	0.811%	7/27/2050		445,000			67,143			—				67,143
3-month USD-LIBOR	1.171%	10/20/2050		40,000			2,387			—				2,387
3-month USD-LIBOR	1.23188%	11/6/2050		25,000			1,104			—				1,104
3-month USD-LIBOR	1.24675%	11/25/2050		17,000			687			—				687
									$	(266	)		$	190,708

Credit default swaps

Centrally cleared credit default swaps on credit indices — sell protection

Receive/ Payment frequency	Pay	Expiration date	Notional (000)		Value at 12/31/2020 (000)			Upfront premium received (000)				Unrealized appreciation at 12/31/2020 (000)
1.00%/Quarterly	CDX.EM.34	12/20/2025		$125,000		$(3,011	)		$	(3,833	)		$	822

Investments in affiliates¹⁷

	Value of affiliate at 1/1/2020 (000)		Additions (000)		Reductions (000)		Net realized gain (000)		Net unrealized depreciation (000)			Value of affiliate at 12/31/2020 (000)		Dividend income (000)
Short-term securities 23.31%
Money market investments 23.31%
Capital Group Central Cash Fund 0.12%15		$2,874,866		$32,331,244		$18,836,628		$903		$(2,200	)		$16,368,185		$35,029

The Bond Fund of America 55

1	Principal payments may be made periodically. Therefore, the effective maturity date may be earlier than the stated maturity date.
2	Amount less than one thousand.
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	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 $6,392,458,000, which represented 9.10% of the net assets of the fund.
5	Purchased on a TBA basis.
6	Valued under fair value procedures adopted by authority of the board of trustees. The total value of all such securities was $135,073,000, which represented .19% of the net assets of the fund.
7	Step bond; coupon rate may change at a later date.
8	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.
9	Scheduled interest and/or principal payment was not received.
10	Value determined using significant unobservable inputs.
11	Loan participations and assignments; may be subject to legal or contractual restrictions on resale. The total value of all such loans was $4,947,000, which represented less than .01% of the net assets of the fund.
12	All or a portion of this security was pledged as collateral. The total value of pledged collateral was $201,208,000, which represented .29% 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 12/31/2020.
17	Part of the same group of investment companies as the fund 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	$	24,287		.03	%

Key to abbreviations and symbols

Agcy. = Agency

AMT = Alternative Minimum Tax

Auth. = Authority

CLO = Collateralized Loan Obligations

Dept. = Department

Dev. = Development

Dist. = District

Econ. = Economic

EFFR = Effective Federal Funds Rate

EUR/€ = Euros

Fac. = Facility

Facs. = Facilities

Fin. = Finance

G.O. = General Obligation

ICE = Intercontinental Exchange, Inc.

LIBOR = London Interbank Offered Rate

MXN = Mexican pesos

Ref. = Refunding

Rev. = Revenue

SIFMA = Securities Industry and Financial Markets Association

SOFR = Secured Overnight Financing Rate

TBA = To-be-announced

USD/$ = U.S. dollars

See notes to financial statements.

56 The Bond Fund of America

Financial statements
Statement of assets and liabilities at December 31, 2020		(dollars in thousands)
Assets:
Investment securities, at value:
Unaffiliated issuers (cost: $64,533,619)	$	67,327,911
Affiliated issuers (cost: $16,367,783)		16,368,185	$	83,696,096
Cash				68,497
Cash denominated in currencies other than U.S. dollars (cost: $58)				59
Unrealized appreciation on open forward currency contracts				25
Receivables for:
Sales of investments		27,070,979
Sales of fund’s shares		259,232
Dividends and interest		307,150
Variation margin on futures contracts		5,331
Variation margin on swap contracts		683
Other		41		27,643,416
				111,408,093
Liabilities:
Unrealized depreciation on open forward currency contracts				345
Payables for:
Purchases of investments		40,902,262
Repurchases of fund’s shares		182,411
Dividends on fund’s shares		46,574
Investment advisory services		9,107
Services provided by related parties		13,601
Trustees’ deferred compensation		815
Variation margin on futures contracts		8,659
Variation margin on swap contracts		4,628
Other		300		41,168,357
Net assets at December 31, 2020			$	70,239,391
Net assets consist of:
Capital paid in on shares of beneficial interest			$	67,194,049
Total distributable earnings				3,045,342
Net assets at December 31, 2020			$	70,239,391

See notes to financial statements.

The Bond Fund of America 57

Financial statements (continued)
Statement of assets and liabilities at December 31, 2020 (continued)
(dollars and shares in thousands, except per-share amounts)
Shares of beneficial interest issued and outstanding (no stated par value) — unlimited shares authorized (5,094,003 total shares outstanding)
	Net assets		Shares outstanding		Net asset value per share
Class A	$	29,570,101		2,144,526	$	13.79
Class C		848,421		61,530		13.79
Class T		11		1		13.79
Class F-1		1,315,483		95,403		13.79
Class F-2		16,493,521		1,196,167		13.79
Class F-3		4,465,082		323,823		13.79
Class 529-A		1,525,494		110,634		13.79
Class 529-C		89,350		6,480		13.79
Class 529-E		52,724		3,824		13.79
Class 529-T		12		1		13.79
Class 529-F-1		10		1		13.79
Class 529-F-2		165,812		12,025		13.79
Class 529-F-3		10		1		13.79
Class R-1		39,462		2,862		13.79
Class R-2		468,478		33,976		13.79
Class R-2E		45,504		3,300		13.79
Class R-3		743,129		53,894		13.79
Class R-4		687,738		49,877		13.79
Class R-5E		87,870		6,373		13.79
Class R-5		192,133		13,934		13.79
Class R-6		13,449,046		975,371		13.79

See notes to financial statements.

58 The Bond Fund of America

Financial statements (continued)
Statement of operations for the year ended December 31, 2020	(dollars in thousands)
Investment income:
Income:
Interest (net of non-U.S. taxes of $168)	$	1,244,899
Dividends (includes $35,029 from affiliates)		35,162		$	1,280,061
Fees and expenses*:
Investment advisory services		98,524
Distribution services		91,435
Transfer agent services		51,780
Administrative services		17,860
Reports to shareholders		1,928
Registration statement and prospectus		3,873
Trustees’ compensation		256
Auditing and legal		434
Custodian		296
Other		1,148
Total fees and expenses before waiver/reimbursement		267,534
Less waiver/reimbursement of fees and expenses:
Investment advisory services waiver		9
Transfer agent services reimbursement		—	†
Total fees and expenses after waiver/reimbursement					267,525
Net investment income					1,012,536
Net realized gain and unrealized appreciation:
Net realized gain (loss) on:
Investments (net of non-U.S. taxes of $504):
Unaffiliated issuers		2,167,634
Affiliated issuers		903
Futures contracts		700,870
Forward currency contracts		40,646
Swap contracts		(159,196	)
Currency transactions		(576	)		2,750,281
Net unrealized appreciation (depreciation) on:
Investments:
Unaffiliated issuers		1,620,905
Affiliated issuers		(2,200	)
Futures contracts		58,463
Forward currency contracts		720
Swap contracts		343,445
Currency translations		(46	)		2,021,287
Net realized gain and unrealized appreciation					4,771,568
Net increase in net assets resulting from operations				$	5,784,104

*	Additional information related to class-specific fees and expenses is included in the notes to financial statements.
†	Amount less than one thousand.

See notes to financial statements.

The Bond Fund of America 59

Financial statements (continued)
Statements of changes in net assets
	(dollars in thousands)
	Year ended December 31,
	2020			2019
Operations:
Net investment income	$	1,012,536		$	1,099,130
Net realized gain		2,750,281			1,193,522
Net unrealized appreciation		2,021,287			1,072,818
Net increase in net assets resulting from operations		5,784,104			3,365,470
Distributions paid or accrued to shareholders		(3,310,485	)		(1,755,900	)
Net capital share transactions		17,318,680			9,522,208
Total increase in net assets		19,792,299			11,131,778
Net assets:
Beginning of year		50,447,092			39,315,314
End of year	$	70,239,391		$	50,447,092

See notes to financial statements.

60 The Bond Fund of America

Notes to financial statements

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 21 share classes consisting of six retail share classes (Classes A, C, T, F-1, F-2 and F-3), seven 529 college savings plan share classes (Classes 529-A, 529-C, 529-E, 529-T, 529-F-1, 529-F-2 and 529-F-3) 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% for Class A; up to 3.50% for Class 529-A1	None (except 1% for certain redemptions within 18 months of purchase without an initial sales charge)	None
Classes C and 529-C	None	1% for redemptions within one year of purchase	Class C converts to Class A after eight years and Class 529-C converts to Class 529-A after five years2
Class 529-E	None	None	None
Classes T and 529-T3	Up to 2.50%	None	None
Classes F-1, F-2, F-3, 529-F-1, 529-F-2 and 529-F-3	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	Prior to June 30, 2020, the initial sales charge was up to 3.75% for Class 529-A purchases.
2	Prior to June 30, 2020, Class C converted to Class F-1 and Class 529-C converted to Class 529-A after ten years.
3	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.

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.

The Bond Fund of America 61

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.

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 per share is calculated once daily as of the close of regular trading on the New York Stock Exchange, normally 4 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 & loans; 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

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 based on the spot and

62 The Bond Fund of America

forward exchange rates obtained from 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 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 following tables present the fund’s valuation levels as of December 31, 2020 (dollars in thousands):

	Investment securities
	Level 1		Level 2		Level 3		Total
Assets:
Bonds, notes & other debt instruments:
Mortgage-backed obligations	$	—	$	22,468,148	$	—	$	22,468,148
Corporate bonds, notes & loans		—		21,580,420		4,652		21,585,072
U.S. Treasury bonds & notes		—		19,376,490		—		19,376,490
Municipals		—		1,499,202		—		1,499,202
Asset-backed obligations		—		1,134,203		—		1,134,203
Bonds & notes of governments & government agencies outside the U.S.		—		1,109,227		—		1,109,227
Federal agency bonds & notes		—		125,440		—		125,440
Common stocks		—		1,662		24,321		25,983
Preferred securities		—		4,094		—		4,094
Rights & warrants		—		52		—		52
Short-term securities		16,368,185		—		—		16,368,185
Total	$	16,368,185	$	67,298,938	$	28,973	$	83,696,096

The Bond Fund of America 63

	Other investments*
	Level 1			Level 2			Level 3		Total
Assets:
Unrealized appreciation on futures contracts	$	16,948		$	—		$	—	$	16,948
Unrealized appreciation on open forward currency contracts		—			25			—		25
Unrealized appreciation on interest rate swaps		—			190,777			—		190,777
Unrealized appreciation on credit default swaps		—			822			—		822
Liabilities:
Unrealized depreciation on futures contracts		(10,817	)		—			—		(10,817	)
Unrealized depreciation on open forward currency contracts		—			(345	)		—		(345	)
Unrealized depreciation on interest rate swaps		—			(69	)		—		(69	)
Total	$	6,131		$	191,210		$	—	$	197,341

* Futures contracts, forward currency contracts, interest rate swaps and credit default swaps are not included in the investment portfolio.

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, including actions taken by governmental or quasi-governmental authorities in response to any of the foregoing, 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, investigations or other controversies 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 factors such as the interest rates, 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 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.

64 The Bond Fund of America

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. While such securities are subject to the risks associated with investments in debt instruments generally (for example, credit, extension and interest rate risks), they are also subject to other and different risks. 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.

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 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.

The Bond Fund of America 65

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.

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 $17,139,469,000.

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 based on the applicable exchange rates and records unrealized appreciation or depreciation for open forward currency contracts in the fund’s statement of assets and liabilities. Realized

66 The Bond Fund of America

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. The average month-end notional amount of open forward currency contracts while held was $802,883,000.

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 $34,164,296,000.

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 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 $918,513,000.

The Bond Fund of America 67

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 year ended, December 31, 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*	$	16,948		Unrealized depreciation*	$	10,817
Forward currency	Currency	Unrealized appreciation on open forward currency contracts		25		Unrealized depreciation on open forward currency contracts		345
Swap	Interest	Unrealized appreciation*		190,777		Unrealized depreciation*		69
Swap	Credit	Unrealized appreciation*		822		Unrealized depreciation*		—
			$	208,572			$	11,231
		Net realized gain (loss)				Net unrealized appreciation
Contracts	Risk type	Location on statement of operations	Value			Location on statement of operations	Value
Futures	Interest	Net realized gain on futures contracts	$	700,870		Net unrealized appreciation on futures contracts	$	58,463
Forward currency	Currency	Net realized gain on forward currency contracts		40,646		Net unrealized appreciation on forward currency contracts		720
Swap	Interest	Net realized loss on swap contracts		(277,257	)	Net unrealized appreciation on swap contracts		323,976
Swap	Credit	Net realized gain on swap contracts		118,061		Net unrealized appreciation on swap contracts		19,469
			$	582,320			$	402,628

* 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 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 December 31, 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:
Goldman Sachs	$	25	$	(7	)	$	—	$	(10	)	$	8

68 The Bond Fund of America

	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
Liabilities:
Bank of America	$	178	$	—		$	(178	)	$	—	$	—
Bank of New York Mellon		126		—			(126	)		—		—
Goldman Sachs		7		(7	)		—			—		—
HSBC Bank		34		—			—			—		34
Total	$	345	$	(7	)	$	(304	)	$	—	$	34

* Collateral is shown on a settlement basis.

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 year ended December 31, 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 fund may also designate a portion of the amount paid to redeeming shareholders as a distribution for tax purposes.

During the year ended December 31, 2020, the fund reclassified $165,617,000 from total distributable earnings to capital paid in on shares of beneficial interest to align financial reporting with tax reporting.

As of December 31, 2020, the tax basis components of distributable earnings, unrealized appreciation (depreciation) and cost of investments were as follows (dollars in thousands):

Undistributed ordinary income	$	212,048
Undistributed long-term capital gains		115,355
Gross unrealized appreciation on investments		3,124,553
Gross unrealized depreciation on investments		(159,013	)
Net unrealized appreciation on investments		2,965,540
Cost of investments		80,931,996

The Bond Fund of America 69

Distributions paid or accrued were characterized for tax purposes as follows (dollars in thousands):

	Year ended December 31, 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	$	1,135,597		$	260,675		$	1,396,272		$	632,256		$	167,895		$	800,151
Class C		27,884			7,480			35,364			17,166			5,689			22,855
Class T		—	*		—	*		—	*		—	*		—	*		—	*
Class F-1		49,443			11,581			61,024			25,778			7,064			32,842
Class F-2		618,245			145,365			763,610			249,463			68,160			317,623
Class F-3		163,945			39,329			203,274			62,414			16,004			78,418
Class 529-A		57,819			13,417			71,236			31,813			8,485			40,298
Class 529-C		3,631			786			4,417			3,956			1,302			5,258
Class 529-E		1,983			463			2,446			1,217			336			1,553
Class 529-T		—	*		—	*		—	*		—	*		—	*		—	*
Class 529-F-1		2,578			—	*		2,578			3,663			923			4,586
Class 529-F-2†		4,047			1,458			5,505
Class 529-F-3†		—	*		—	*		—	*
Class R-1		1,283			348			1,631			733			282			1,015
Class R-2		15,217			4,120			19,337			8,916			2,975			11,891
Class R-2E		1,561			400			1,961			772			238			1,010
Class R-3		27,171			6,544			33,715			16,313			4,599			20,912
Class R-4		26,795			6,064			32,859			16,214			4,131			20,345
Class R-5E		3,282			771			4,053			880			317			1,197
Class R-5		8,031			1,691			9,722			5,548			1,252			6,800
Class R-6		543,708			117,773			661,481			313,911			75,235			389,146
Total	$	2,692,220		$	618,265		$	3,310,485		$	1,391,013		$	364,887		$	1,755,900

*	Amount less than one thousand.
†	Class 529-F-2 and 529-F-3 shares began investment operations on October 30, 2020.

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.

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. CRMC does not intend to recoup this waiver. For the year ended December 31, 2020, total investment advisory services fees waived by CRMC were $9,000. As a result, the fee of $98,524,000 shown on the statement of operations was reduced to $98,515,000, both of which were equivalent to an annualized rate of 0.165% 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, 529-F-2, 529-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

70 The Bond Fund of America

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 expense limits are not exceeded. As of December 31, 2020, unreimbursed expenses subject to reimbursement totaled $13,008,000 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. For the year ended December 31, 2020, CRMC reimbursed transfer agent services fees of less than $1,000 for Class 529-F-3 shares. CRMC does not intend to recoup this reimbursement.

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 average 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 the average 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.

The Bond Fund of America 71

For the year ended December 31, 2020, class-specific expenses under the agreements were as follows (dollars in thousands):

Share class	Distribution services			Transfer agent services			Administrative services			529 plan services
Class A		$66,435			$29,899			$7,972		Not applicable
Class C		8,187			937			248		Not applicable
Class T		—			—	*		—	*	Not applicable
Class F-1		2,875			1,627			345		Not applicable
Class F-2		Not applicable			13,741			3,774		Not applicable
Class F-3		Not applicable			241			935		Not applicable
Class 529-A		3,270			1,444			411		$844
Class 529-C		1,370			159			42		87
Class 529-E		250			22			15		32
Class 529-T		—			—	*		—	*	—	*
Class 529-F-1		—	*		123			36		74
Class 529-F-2†		Not applicable			22			8		16
Class 529-F-3†		Not applicable			—	*		—	*	—	*
Class R-1		382			49			12		Not applicable
Class R-2		3,339			1,529			134		Not applicable
Class R-2E		244			86			12		Not applicable
Class R-3		3,504			1,059			210		Not applicable
Class R-4		1,579			613			190		Not applicable
Class R-5E		Not applicable			99			20		Not applicable
Class R-5		Not applicable			90			53		Not applicable
Class R-6		Not applicable			40			3,443		Not applicable
Total class-specific expenses		$91,435			$51,780			$17,860		$1,053

*	Amount less than one thousand.
†	Class 529-F-2 and 529-F-3 shares began investment operations on October 30, 2020.

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 $256,000 in the fund’s statement of operations reflects $160,000 in current fees (either paid in cash or deferred) and a net increase of $96,000 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.

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 year ended December 31, 2020, the fund engaged in such purchase and sale transactions with related funds in the amounts of $713,381,000 and $361,224,000, respectively, which generated $4,039,000 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 year ended December 31, 2020.

72 The Bond Fund of America

8. Capital share transactions

Capital share transactions in the fund were as follows (dollars and shares in thousands):

	Sales1				Reinvestments of distributions						Repurchases1						Net increase (decrease)
Share class	Amount		Shares		Amount			Shares			Amount			Shares			Amount			Shares
Year ended December 31, 2020
Class A	$	7,577,330		547,419	$	1,375,595			99,645		$	(3,786,344	)		(275,341	)	$	5,166,581			371,723
Class C		381,139		27,552		34,643			2,513			(396,635	)		(28,589	)		19,147			1,476
Class T		—		—		—			—			—			—			—			—
Class F-1		540,494		38,951		58,925			4,270			(310,432	)		(22,462	)		288,987			20,759
Class F-2		9,295,368		668,599		740,296			53,596			(3,376,383	)		(245,568	)		6,659,281			476,627
Class F-3		2,722,424		195,260		200,563			14,517			(757,259	)		(54,996	)		2,165,728			154,781
Class 529-A		484,048		34,875		70,405			5,100			(263,429	)		(19,020	)		291,024			20,955
Class 529-C		42,518		3,097		4,400			320			(149,126	)		(10,687	)		(102,208	)		(7,270	)
Class 529-E		14,371		1,044		2,430			176			(13,052	)		(942	)		3,749			278
Class 529-T		—		—		1			—	2		—			—			1			—	2
Class 529-F-1		43,715		3,163		2,343			170			(182,892	)		(13,093	)		(136,834	)		(9,760	)
Class 529-F-23		169,310		12,086		5,496			398			(6,497	)		(459	)		168,309			12,025
Class 529-F-33		10		1		—	2		—	2		—			—			10			1
Class R-1		12,614		911		1,628			118			(15,788	)		(1,153	)		(1,546	)		(124	)
Class R-2		192,313		13,950		19,247			1,395			(174,314	)		(12,674	)		37,246			2,671
Class R-2E		21,840		1,587		1,960			142			(13,198	)		(956	)		10,602			773
Class R-3		310,798		22,534		33,500			2,428			(267,678	)		(19,450	)		76,620			5,512
Class R-4		279,386		20,220		32,546			2,357			(220,289	)		(16,038	)		91,643			6,539
Class R-5E		62,998		4,557		4,037			292			(24,781	)		(1,788	)		42,254			3,061
Class R-5		74,561		5,396		9,489			687			(73,345	)		(5,385	)		10,705			698
Class R-6		3,960,909		284,931		658,960			47,721			(2,092,488	)		(154,656	)		2,527,381			177,996
Total net increase (decrease)	$	26,186,146		1,886,133	$	3,256,464			235,845		$	(12,123,930	)		(883,257	)	$	17,318,680			1,238,721
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		—		—		—	2		—	2		—			—			—	2		—	2
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

1	Includes exchanges between share classes of the fund.
2	Amount less than one thousand.
3	Class 529-F-2 and 529-F-3 shares began investment operations on October 30, 2020.

The Bond Fund of America 73

9. Investment transactions

The fund made purchases and sales of investment securities, excluding short-term securities and U.S. government obligations, if any, of $288,853,235,000 and $270,214,966,000, respectively, during the year ended December 31, 2020.

74 The Bond Fund of America

Financial highlights

			Income (loss) from investment operations1								Dividends and distributions
Period ended	Net asset value, beginning of period		Net investment income		Net gains (losses) on securities (both realized and unrealized)			Total from investment operations			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
Class A:
12/31/2020	$	13.09	$	.22	$	1.18		$	1.40		$	(.26	)	$	(.44	)	$	(.70	)	$	13.79		10.71	%	$	29,570			.57	%		.57	%		1.59	%
12/31/2019		12.57		.31		.69			1.00			(.30	)		(.18	)		(.48	)		13.09		8.02			23,197			.60			.60			2.35
12/31/2018		12.89		.30		(.32	)		(.02	)		(.30	)		—			(.30	)		12.57		(.13	)		19,352			.60			.60			2.37
12/31/2017		12.72		.25		.16			.41			(.24	)		—			(.24	)		12.89		3.21			19,939			.60			.60			1.91
12/31/2016		12.59		.23		.12			.35			(.22	)		—			(.22	)		12.72		2.74			19,437			.61			.61			1.79
Class C:
12/31/2020		13.09		.11		1.18			1.29			(.15	)		(.44	)		(.59	)		13.79		9.90			848			1.31			1.31			.87
12/31/2019		12.57		.21		.69			.90			(.20	)		(.18	)		(.38	)		13.09		7.20			786			1.36			1.36			1.60
12/31/2018		12.89		.20		(.32	)		(.12	)		(.20	)		—			(.20	)		12.57		(.91	)		825			1.39			1.39			1.58
12/31/2017		12.72		.15		.16			.31			(.14	)		—			(.14	)		12.89		2.40			1,041			1.40			1.40			1.11
12/31/2016		12.59		.12		.12			.24			(.11	)		—			(.11	)		12.72		1.94			1,276			1.40			1.40			1.00
Class T:
12/31/2020		13.09		.25		1.18			1.43			(.29	)		(.44	)		(.73	)		13.79		10.98	5		—	6		.34	5		.34	5		1.81	5
12/31/2019		12.57		.34		.69			1.03			(.33	)		(.18	)		(.51	)		13.09		8.24	5		—	6		.37	5		.37	5		2.56	5
12/31/2018		12.89		.33		(.32	)		.01			(.33	)		—			(.33	)		12.57		.09	5		—	6		.39	5		.39	5		2.58	5
12/31/20177,8		12.81		.20		.07			.27			(.19	)		—			(.19	)		12.89		2.15	5,9		—	6		.38	5,10		.38	5,10		2.15	5,10
Class F-1:
12/31/2020		13.09		.21		1.18			1.39			(.25	)		(.44	)		(.69	)		13.79		10.68			1,315			.60			.60			1.55
12/31/2019		12.57		.31		.69			1.00			(.30	)		(.18	)		(.48	)		13.09		7.97			977			.64			.64			2.31
12/31/2018		12.89		.29		(.32	)		(.03	)		(.29	)		—			(.29	)		12.57		(.18	)		745			.66			.66			2.32
12/31/2017		12.72		.24		.16			.40			(.23	)		—			(.23	)		12.89		3.17			801			.65			.65			1.86
12/31/2016		12.59		.22		.12			.34			(.21	)		—			(.21	)		12.72		2.71			757			.64			.64			1.76
Class F-2:
12/31/2020		13.09		.25		1.18			1.43			(.29	)		(.44	)		(.73	)		13.79		10.99			16,494			.32			.32			1.81
12/31/2019		12.57		.35		.69			1.04			(.34	)		(.18	)		(.52	)		13.09		8.28			9,415			.35			.35			2.59
12/31/2018		12.89		.33		(.32	)		.01			(.33	)		—			(.33	)		12.57		.14			5,728			.34			.34			2.65
12/31/2017		12.72		.28		.16			.44			(.27	)		—			(.27	)		12.89		3.47			4,067			.35			.35			2.16
12/31/2016		12.59		.26		.12			.38			(.25	)		—			(.25	)		12.72		3.00			3,338			.36			.36			2.03
Class F-3:
12/31/2020		13.09		.27		1.18			1.45			(.31	)		(.44	)		(.75	)		13.79		11.10			4,465			.21			.21			1.90
12/31/2019		12.57		.36		.69			1.05			(.35	)		(.18	)		(.53	)		13.09		8.40			2,212			.25			.24			2.70
12/31/2018		12.89		.34		(.32	)		.02			(.34	)		—			(.34	)		12.57		.21			1,483			.27			.27			2.70
12/31/20177,11		12.74		.27		.14			.41			(.26	)		—			(.26	)		12.89		3.25	9		2,061			.26	10		.26	10		2.29	10
Class 529-A:
12/31/2020		13.09		.21		1.18			1.39			(.25	)		(.44	)		(.69	)		13.79		10.67			1,526			.61			.61			1.54
12/31/2019		12.57		.30		.69			.99			(.29	)		(.18	)		(.47	)		13.09		7.95			1,174			.66			.66			2.29
12/31/2018		12.89		.29		(.32	)		(.03	)		(.29	)		—			(.29	)		12.57		(.21	)		1,003			.69			.69			2.29
12/31/2017		12.72		.24		.16			.40			(.23	)		—			(.23	)		12.89		3.14			1,022			.68			.68			1.84
12/31/2016		12.59		.22		.12			.34			(.21	)		—			(.21	)		12.72		2.66			917			.69			.69			1.71

See end of table for footnotes.

The Bond Fund of America 75

Financial highlights (continued)

			Income (loss) from investment operations1								Dividends and distributions
Period ended	Net asset value, beginning of period		Net investment income		Net gains (losses) on securities (both realized and unrealized)			Total from investment operations			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
Class 529-C:
12/31/2020	$	13.09	$	.11	$	1.18		$	1.29		$	(.15	)	$	(.44	)	$	(.59	)	$	13.79		9.85	%	$	89			1.36	%		1.36	%		.90	%
12/31/2019		12.57		.21		.69			.90			(.20	)		(.18	)		(.38	)		13.09		7.16			180			1.40			1.40			1.56
12/31/2018		12.89		.20		(.32	)		(.12	)		(.20	)		—			(.20	)		12.57		(.94	)		191			1.43			1.43			1.55
12/31/2017		12.72		.14		.16			.30			(.13	)		—			(.13	)		12.89		2.35			232			1.44			1.44			1.07
12/31/2016		12.59		.12		.12			.24			(.11	)		—			(.11	)		12.72		1.88			322			1.45			1.45			.95
Class 529-E:
12/31/2020		13.09		.18		1.18			1.36			(.22	)		(.44	)		(.66	)		13.79		10.46			53			.80			.80			1.37
12/31/2019		12.57		.28		.69			.97			(.27	)		(.18	)		(.45	)		13.09		7.75			46			.85			.85			2.11
12/31/2018		12.89		.27		(.32	)		(.05	)		(.27	)		—			(.27	)		12.57		(.40	)		43			.88			.88			2.10
12/31/2017		12.72		.21		.16			.37			(.20	)		—			(.20	)		12.89		2.93			47			.88			.88			1.63
12/31/2016		12.59		.19		.12			.31			(.18	)		—			(.18	)		12.72		2.45			48			.90			.90			1.50
Class 529-T:
12/31/2020		13.09		.24		1.18			1.42			(.28	)		(.44	)		(.72	)		13.79		10.91	5		—	6		.39	5		.39	5		1.77	5
12/31/2019		12.57		.33		.69			1.02			(.32	)		(.18	)		(.50	)		13.09		8.20	5		—	6		.42	5		.42	5		2.51	5
12/31/2018		12.89		.32		(.32	)		—	12		(.32	)		—			(.32	)		12.57		.04	5		—	6		.44	5		.44	5		2.54	5
12/31/20177,8		12.81		.20		.07			.27			(.19	)		—			(.19	)		12.89		2.10	5,9		—	6		.45	5,10		.45	5,10		2.08	5,10
Class 529-F-1:
12/31/2020		13.09		.24		1.18			1.42			(.28	)		(.44	)		(.72	)		13.79		10.92	5		—	6		.38	5		.38	5		1.87	5
12/31/2019		12.57		.34		.69			1.03			(.33	)		(.18	)		(.51	)		13.09		8.20			128			.42			.42			2.53
12/31/2018		12.89		.32		(.32	)		—	12		(.32	)		—			(.32	)		12.57		.03			102			.44			.44			2.54
12/31/2017		12.72		.27		.16			.43			(.26	)		—			(.26	)		12.89		3.37			88			.45			.45			2.06
12/31/2016		12.59		.25		.12			.37			(.24	)		—			(.24	)		12.72		2.89			77			.46			.46			1.94
Class 529-F-2:
12/31/20207,13		14.00		.03		.24			.27			(.04	)		(.44	)		(.48	)		13.79		1.88	9		166			.06	9		.06	9		.24	9
Class 529-F-3:
12/31/20207,13		14.00		.04		.23			.27			(.04	)		(.44	)		(.48	)		13.79		1.90	9		—	6		.08	9		.04	9		.25	9
Class R-1:
12/31/2020		13.09		.11		1.18			1.29			(.15	)		(.44	)		(.59	)		13.79		9.88			39			1.33			1.33			.85
12/31/2019		12.57		.21		.69			.90			(.20	)		(.18	)		(.38	)		13.09		7.21			39			1.35			1.35			1.61
12/31/2018		12.89		.20		(.32	)		(.12	)		(.20	)		—			(.20	)		12.57		(.89	)		30			1.37			1.37			1.60
12/31/2017		12.72		.15		.16			.31			(.14	)		—			(.14	)		12.89		2.43			34			1.37			1.37			1.14
12/31/2016		12.59		.13		.12			.25			(.12	)		—			(.12	)		12.72		1.97			42			1.37			1.37			1.03

See end of table for footnotes.

76 The Bond Fund of America

Financial highlights (continued)

			Income (loss) from investment operations1								Dividends and distributions
Period ended	Net asset value, beginning of period		Net investment income		Net gains (losses) on securities (both realized and unrealized)			Total from investment operations			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
Class R-2:
12/31/2020	$	13.09	$	.12	$	1.18		$	1.30		$	(.16	)	$	(.44	)	$	(.60	)	$	13.79		9.91	%	$	468			1.30	%		1.30	%		.87	%
12/31/2019		12.57		.22		.69			.91			(.21	)		(.18	)		(.39	)		13.09		7.22			410			1.34			1.34			1.61
12/31/2018		12.89		.20		(.32	)		(.12	)		(.20	)		—			(.20	)		12.57		(.88	)		400			1.36			1.36			1.61
12/31/2017		12.72		.15		.16			.31			(.14	)		—			(.14	)		12.89		2.44			456			1.36			1.36			1.15
12/31/2016		12.59		.13		.12			.25			(.12	)		—			(.12	)		12.72		1.98			514			1.35			1.35			1.05
Class R-2E:
12/31/2020		13.09		.16		1.18			1.34			(.20	)		(.44	)		(.64	)		13.79		10.22			46			1.02			1.02			1.14
12/31/2019		12.57		.25		.69			.94			(.24	)		(.18	)		(.42	)		13.09		7.53			33			1.05			1.05			1.90
12/31/2018		12.89		.24		(.32	)		(.08	)		(.24	)		—			(.24	)		12.57		(.59	)		26			1.07			1.07			1.92
12/31/2017		12.72		.19		.16			.35			(.18	)		—			(.18	)		12.89		2.75			20			1.06			1.06			1.48
12/31/2016		12.59		.17		.12			.29			(.16	)		—			(.16	)		12.72		2.31			9			1.05			1.05			1.36
Class R-3:
12/31/2020		13.09		.18		1.18			1.36			(.22	)		(.44	)		(.66	)		13.79		10.40			743			.86			.86			1.31
12/31/2019		12.57		.27		.69			.96			(.26	)		(.18	)		(.44	)		13.09		7.70			633			.89			.89			2.06
12/31/2018		12.89		.26		(.32	)		(.06	)		(.26	)		—			(.26	)		12.57		(.43	)		582			.91			.91			2.06
12/31/2017		12.72		.21		.16			.37			(.20	)		—			(.20	)		12.89		2.90			622			.91			.91			1.61
12/31/2016		12.59		.19		.12			.31			(.18	)		—			(.18	)		12.72		2.43			651			.91			.91			1.49
Class R-4:
12/31/2020		13.09		.22		1.18			1.40			(.26	)		(.44	)		(.70	)		13.79		10.73			688			.55			.55			1.61
12/31/2019		12.57		.31		.69			1.00			(.30	)		(.18	)		(.48	)		13.09		8.03			567			.59			.59			2.37
12/31/2018		12.89		.30		(.32	)		(.02	)		(.30	)		—			(.30	)		12.57		(.13	)		518			.61			.61			2.37
12/31/2017		12.72		.25		.16			.41			(.24	)		—			(.24	)		12.89		3.22			583			.60			.60			1.91
12/31/2016		12.59		.23		.12			.35			(.22	)		—			(.22	)		12.72		2.75			556			.60			.60			1.80
Class R-5E:
12/31/2020		13.09		.25		1.18			1.43			(.29	)		(.44	)		(.73	)		13.79		10.95			88			.35			.35			1.78
12/31/2019		12.57		.34		.69			1.03			(.33	)		(.18	)		(.51	)		13.09		8.25			43			.37			.37			2.53
12/31/2018		12.89		.33		(.32	)		.01			(.33	)		—			(.33	)		12.57		.09			8			.40			.40			2.63
12/31/2017		12.72		.27		.16			.43			(.26	)		—			(.26	)		12.89		3.39			—	6		.42			.40			2.11
12/31/2016		12.59		.25		.12			.37			(.24	)		—			(.24	)		12.72		2.89			—	6		.47			.47			1.91
Class R-5:
12/31/2020		13.09		.26		1.18			1.44			(.30	)		(.44	)		(.74	)		13.79		11.06			192			.26			.26			1.91
12/31/2019		12.57		.35		.69			1.04			(.34	)		(.18	)		(.52	)		13.09		8.35			173			.29			.29			2.67
12/31/2018		12.89		.34		(.32	)		.02			(.34	)		—			(.34	)		12.57		.17			163			.31			.31			2.67
12/31/2017		12.72		.29		.16			.45			(.28	)		—			(.28	)		12.89		3.52			176			.30			.30			2.21
12/31/2016		12.59		.27		.12			.39			(.26	)		—			(.26	)		12.72		3.05			149			.31			.31			2.13
Class R-6:
12/31/2020		13.09		.27		1.18			1.45			(.31	)		(.44	)		(.75	)		13.79		11.11			13,449			.21			.21			1.95
12/31/2019		12.57		.36		.69			1.05			(.35	)		(.18	)		(.53	)		13.09		8.40			10,434			.24			.24			2.72
12/31/2018		12.89		.34		(.32	)		.02			(.34	)		—			(.34	)		12.57		.22			8,116			.26			.26			2.73
12/31/2017		12.72		.29		.16			.45			(.28	)		—			(.28	)		12.89		3.58			6,351			.25			.25			2.27
12/31/2016		12.59		.27		.12			.39			(.26	)		—			(.26	)		12.72		3.11			3,849			.25			.25			2.15

	Year ended December 31,
Portfolio turnover rate for all share classes14,15	2020	2019	2018	2017	2016
Excluding mortgage dollar roll transactions	113%	127%	121%	170%	168%
Including mortgage dollar roll transactions	535%	286%	356%	379%	363%

The Bond Fund of America 77

Financial highlights (continued)

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 waivers/reimbursements from AFS and/or CRMC. During some of the periods shown, AFS waived a portion of transfer agent services fees for Class F-3 shares. In addition, during some of the periods shown, CRMC reimbursed a portion of transfer agent services fees for certain share classes.
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	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.
6	Amount less than $1 million.
7	Based on operations for a period that is less than a full year.
8	Class T and 529-T shares began investment operations on April 7, 2017.
9	Not annualized.
10	Annualized.
11	Class F-3 shares began investment operations on January 27, 2017.
12	Amount less than $.01.
13	Class 529-F-2 and 529-F-3 shares began investment operations on October 30, 2020.
14	Rates do not include the fund’s portfolio activity with respect to any Central Funds.
15	Refer to Note 5 for more information on mortgage dollar rolls.

See notes to financial statements.

78 The Bond Fund of America

Report of Independent Registered Public Accounting Firm

To the Shareholders and Board of Trustees of The Bond Fund of America:

Opinion on the Financial Statements and Financial Highlights

We have audited the accompanying statement of assets and liabilities of The Bond Fund of America (the “Fund”), including the investment portfolio, as of December 31, 2020, the related statement of operations for the year then ended, the statements of changes in net assets for each of the two years in the period then ended, the financial highlights for each of the five years in the period then ended, and the related notes. In our opinion, the financial statements and financial highlights present fairly, in all material respects, the financial position of the Fund as of December 31, 2020, and the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period then ended, and the financial highlights for each of the five years in the period then ended, in conformity with accounting principles generally accepted in the United States of America.

Basis for Opinion

These financial statements and financial highlights are the responsibility of the Fund’s management. Our responsibility is to express an opinion on the Fund’s financial statements and financial highlights based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement, whether due to error or fraud. The Fund is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for the purpose of expressing an opinion on the effectiveness of the Fund’s internal control over financial reporting. Accordingly, we express no such opinion.

Our audits included performing procedures to assess the risks of material misstatement of the financial statements and financial highlights, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements and financial highlights. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements and financial highlights. Our procedures included confirmation of securities owned as of December 31, 2020, by correspondence with the custodian and brokers; when replies were not received from brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.

Deloitte & Touche LLP

Costa Mesa, California

February 11, 2021

We have served as the auditor of one or more American Funds investment companies since 1956.

The Bond Fund of America 79

Expense example unaudited

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 (July 1, 2020, through December 31, 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, 529-F-1, 529-F-2 and 529-F-3 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.

80 The Bond Fund of America

Expense example (continued)
	Beginning account value 7/1/2020		Ending account value 12/31/2020		Expenses paid during period*		Annualized expense ratio
Class A – actual return	$	1,000.00	$	1,024.64	$	2.81		.55	%
Class A – assumed 5% return		1,000.00		1,022.43		2.80		.55
Class C – actual return		1,000.00		1,020.86		6.57		1.29
Class C – assumed 5% return		1,000.00		1,018.70		6.56		1.29
Class T – actual return		1,000.00		1,025.92		1.69		.33
Class T – assumed 5% return		1,000.00		1,023.54		1.68		.33
Class F-1 – actual return		1,000.00		1,024.50		2.96		.58
Class F-1 – assumed 5% return		1,000.00		1,022.28		2.96		.58
Class F-2 – actual return		1,000.00		1,025.93		1.53		.30
Class F-2 – assumed 5% return		1,000.00		1,023.69		1.53		.30
Class F-3 – actual return		1,000.00		1,026.44		1.02		.20
Class F-3 – assumed 5% return		1,000.00		1,024.20		1.02		.20
Class 529-A – actual return		1,000.00		1,024.42		3.06		.60
Class 529-A – assumed 5% return		1,000.00		1,022.18		3.06		.60
Class 529-C – actual return		1,000.00		1,020.63		6.82		1.34
Class 529-C – assumed 5% return		1,000.00		1,018.45		6.82		1.34
Class 529-E – actual return		1,000.00		1,023.45		4.03		.79
Class 529-E – assumed 5% return		1,000.00		1,021.22		4.02		.79
Class 529-T – actual return		1,000.00		1,025.65		1.94		.38
Class 529-T – assumed 5% return		1,000.00		1,023.29		1.94		.38
Class 529-F-1 – actual return		1,000.00		1,025.62		1.79		.35
Class 529-F-1 – assumed 5% return		1,000.00		1,023.44		1.79		.35
Class 529-F-2 – actual return†		1,000.00		1,025.87		.56		.33
Class 529-F-2 – assumed 5% return†		1,000.00		1,023.54		1.68		.33
Class 529-F-3 – actual return†		1,000.00		1,026.28		.44		.26
Class 529-F-3 – assumed 5% return†		1,000.00		1,023.89		1.33		.26
Class R-1 – actual return		1,000.00		1,020.74		6.72		1.32
Class R-1 – assumed 5% return		1,000.00		1,018.55		6.72		1.32
Class R-2 – actual return		1,000.00		1,020.92		6.52		1.28
Class R-2 – assumed 5% return		1,000.00		1,018.75		6.51		1.28
Class R-2E – actual return		1,000.00		1,022.34		5.15		1.01
Class R-2E – assumed 5% return		1,000.00		1,020.11		5.14		1.01
Class R-3 – actual return		1,000.00		1,023.15		4.28		.84
Class R-3 – assumed 5% return		1,000.00		1,020.97		4.28		.84
Class R-4 – actual return		1,000.00		1,024.72		2.76		.54
Class R-4 – assumed 5% return		1,000.00		1,022.48		2.75		.54
Class R-5E – actual return		1,000.00		1,025.74		1.74		.34
Class R-5E – assumed 5% return		1,000.00		1,023.49		1.73		.34
Class R-5 – actual return		1,000.00		1,026.25		1.28		.25
Class R-5 – assumed 5% return		1,000.00		1,023.95		1.28		.25
Class R-6 – actual return		1,000.00		1,026.47		1.02		.20
Class R-6 – assumed 5% return		1,000.00		1,024.20		1.02		.20

*	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 365 (to reflect the one-half year period).
†	The period for the ” annualized expense ratio” and “actual return” line is based on the number of days since the share class began investment operations on October 30, 2020. The ” assumed 5% return” line is based on 184 days.

The Bond Fund of America 81

Tax information unaudited

We are required to advise you of the federal tax status of certain distributions received by shareholders during the fiscal year. The fund hereby designates the following amounts for the fund’s fiscal year ended December 31, 2020:

Long-term capital gains	$	618,265,000
Qualified dividend income	$	3,721,000
Section 163(j) interest dividends	$	1,212,483,000
Corporate dividends received deduction	$	2,513,000
U.S. government income that may be exempt from state taxation	$	111,905,000

Individual shareholders should refer to their Form 1099 or other tax information, which was mailed in January 2021, to determine the calendar year amounts to be included on their 2020 tax returns. Shareholders should consult their tax advisors.

82 The Bond Fund of America

Liquidity Risk Management Program

The fund has adopted a liquidity risk management program (the “program”). The fund’s board has designated Capital Research and Management Company (“CRMC”) as the administrator of the program. Personnel of CRMC or its affiliates conduct the day-to-day operation of the program pursuant to policies and procedures administered by the Capital Group Liquidity Risk Management Committee.

Under the program, CRMC manages the fund’s liquidity risk, which is the risk that the fund could not meet shareholder redemption requests without significant dilution of remaining shareholders’ interests in the fund. This risk is managed by monitoring the degree of liquidity of the fund’s investments, limiting the amount of the fund’s illiquid investments, and utilizing various risk management tools and facilities available to the fund for meeting shareholder redemptions, among other means. CRMC’s process of determining the degree of liquidity of the fund’s investments is supported by one or more third-party liquidity assessment vendors.

The fund’s board reviewed a report prepared by CRMC regarding the operation and effectiveness of the program for the period October 1, 2019, through September 30, 2020. No significant liquidity events impacting the fund were noted in the report. In addition, CRMC provided its assessment that the program had been effective in managing the fund’s liquidity risk.

The Bond Fund of America 83

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84 The Bond Fund of America

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The Bond Fund of America 85

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86 The Bond Fund of America

Board of trustees and other officers

Independent trustees1
Name and year of birth	Year first elected a trustee of the fund2	Principal occupation(s) during the past five years	Number of portfolios in fund complex overseen by trustee	Other directorships3 held by trustee
William H. Baribault, 1945	2010	Chairman of the Board and CEO, Oakwood Advisors (private investment and consulting); former CEO and President, Richard Nixon Foundation	89	General Finance Corporation
James G. Ellis, 1947	2006	Professor of Marketing and former Dean, Marshall School of Business, University of Southern California	99	Mercury General Corporation
Nariman Farvardin, 1956	2018	President, Stevens Institute of Technology	87	None
Mary Davis Holt, 1950	2015-2016; 2017	Principal, Mary Davis Holt Enterprises, LLC (leadership development consulting); former Partner, Flynn Heath Holt Leadership, LLC (leadership consulting); former COO, Time Life Inc. (1993 – 2003)	87	None
R. Clark Hooper, 1946	2005	Private investor	90	None
Merit E. Janow, 1958	2010	Dean and Professor, Columbia University, School of International and Public Affairs	89	Mastercard Incorporated; Trimble Inc.
Margaret Spellings, 1957 Chairman of the Board (Independent and Non-Executive)	2010	President and CEO, Texas 2036; former President, Margaret Spellings & Company (public policy and strategic consulting); former President, The University of North Carolina; former President, George W. Bush Foundation	91	None
Alexandra Trower, 1964	2019	Executive Vice President, Global Communications and Corporate Officer, The Estée Lauder Companies	86	None
Paul S. Williams, 1959	2020	Former Partner/Managing Director, Major, Lindsey & Africa (executive recruiting firm)	86	Compass Minerals, Inc. (producer of salt and specialty fertilizers); Public Storage, Inc.
Interested trustees4,5
Name, year of birth and position with fund	Year first elected a trustee or officer of the fund2	Principal occupation(s) during the past five years and positions held with affiliated entities or the principal underwriter of the fund	Number of portfolios in fund complex overseen by trustee	Other directorships3 held by trustee
Michael C. Gitlin, 1970	2015	Vice Chairman and Director, Capital Research and Management Company; Partner — Capital Fixed Income Investors, Capital Research and Management Company; Director, The Capital Group Companies, Inc.; served as Head of Fixed Income at a large investment management firm prior to joining Capital Research and Management Company in 2015	86	None
Karl J. Zeile, 1966	2019	Partner — Capital Fixed Income Investors, Capital Research and Management Company	20	None

The fund’s statement of additional information includes further details about fund trustees and is available without charge upon request by calling American Funds Service Company at (800) 421-4225 or by visiting the Capital Group website at capitalgroup.com. The address for all trustees and officers of the fund is 333 South Hope Street, Los Angeles, CA 90071, Attention: Secretary.

See page 88 for footnotes.

The Bond Fund of America 87

Other officers⁵

Name, year of birth and position with fund	Year first elected an officer of the fund2	Principal occupation(s) during past five years and positions held with affiliated entities or the Principal Underwriter of the fund
Pramod Atluri, 1976 President	2016	Partner — Capital Fixed Income Investors, Capital Research and Management Company; Vice President, Capital Fixed Income Investors, Capital Bank and Trust Company6
Kristine M. Nishiyama, 1970 Executive Vice President	2003	Senior Vice President and Senior Counsel — Fund Business Management Group, Capital Research and Management Company; Chair, Senior Vice President, General Counsel and Director, Capital Bank and Trust Company6
David J. Betanzos, 1974 Senior Vice President	2016	Partner — Capital Fixed Income Investors, Capital Research and Management Company; Director, Capital Research and Management Company
David A. Hoag, 1965 Senior Vice President	2015	Partner — Capital Fixed Income Investors, Capital Research and Management Company; Partner — Capital Fixed Income Investors, Capital Bank and Trust Company6
Fergus N. MacDonald, 1969 Senior Vice President	2015	Partner — Capital Fixed Income Investors, Capital Research and Management Company; Director, The Capital Group Companies, Inc.6
Robert H. Neithart, 1965 Senior Vice President	2011	Partner — Capital Fixed Income Investors, Capital Research and Management Company; Partner — Capital Fixed Income Investors, Capital Bank and Trust Company6; Chairman of the Board, Capital Strategy Research, Inc.6
Steven I. Koszalka, 1964 Secretary	2010	Vice President — Fund Business Management Group, Capital Research and Management Company
Brian C. Janssen, 1972 Treasurer	2011	Vice President — Investment Operations, Capital Research and Management Company
Jane Y. Chung, 1974 Assistant Secretary	2014	Associate — Fund Business Management Group, Capital Research and Management Company
Sandra Chuon, 1972 Assistant Treasurer	2019	Assistant Vice President — Investment Operations, Capital Research and Management Company
Gregory F. Niland, 1971 Assistant Treasurer	2015	Vice President — Investment Operations, Capital Research and Management Company

1	The term independent trustee refers to a trustee who is not an “interested person” of the fund within the meaning of the Investment Company Act of 1940.
2	Trustees and officers of the fund serve until their resignation, removal or retirement.
3	This includes all directorships/trusteeships (other than those in the American Funds or other funds managed by Capital Research and Management Company or its affiliates) that are held by each trustee as a trustee or director of a public company or a registered investment company.
4	The term interested trustee refers to a trustee who is an “interested person” within the meaning of the Investment Company Act of 1940, on the basis of their affiliation with the fund’s investment adviser, Capital Research and Management Company, or affiliated entities (including the fund’s principal underwriter).
5	All of the trustees and/or officers listed are officers and/or directors/trustees of one or more of the other funds for which Capital Research and Management Company serves as investment adviser.
6	Company affiliated with Capital Research and Management Company.

88 The Bond Fund of America

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

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 the American Funds 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 or our website.

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 NPORT-P. The list of portfolio holdings is available free of charge on the SEC website and on our website.

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 March 31, 2021, 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 System^SM — 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.

 

ITEM 2 – Code of Ethics

The Registrant has adopted a Code of Ethics that applies to its Principal Executive Officer and Principal Financial Officer. The Registrant undertakes to provide to any person without charge, upon request, a copy of the Code of Ethics. Such request can be made by calling 800/421-4225 or to the Secretary of the Registrant, 333 South Hope Street, Los Angeles, California 90071.

ITEM 3 – Audit Committee Financial Expert

The Registrant’s board has determined that James G. Ellis, a member of the Registrant’s audit committee, is an “audit committee financial expert” and "independent," as such terms are defined in this Item. This designation will not increase the designee’s duties, obligations or liability as compared to his or her duties, obligations and liability as a member of the audit committee and of the board, nor will it reduce the responsibility of the other audit committee members. There may be other individuals who, through education or experience, would qualify as "audit committee financial experts" if the board had designated them as such. Most importantly, the board believes each member of the audit committee contributes significantly to the effective oversight of the Registrant’s financial statements and condition.

ITEM 4 – Principal Accountant Fees and Services

BFA

Registrant:
a)  Audit Fees:
Audit	2019	198,000
	2020	384,000
b)  Audit-Related Fees:
	2019	9,000
	2020	10,000
c)  Tax Fees:
	2019	13,000
	2020	10,000
	The tax fees consist of professional services relating to the preparation of the Registrant’s tax returns.
d)  All Other Fees:
	2019	None
	2020	None
	Adviser and affiliates (includes only fees for non-audit services billed to the adviser and affiliates for engagements that relate directly to the operations and financial reporting of the Registrant and were subject to the pre-approval policies described below):
a)  Audit Fees:
	Not Applicable
b)  Audit-Related Fees:
	2019	1,812,000
	2020	1,477,000
	The audit-related fees consist of assurance and related services relating to the examination of the Registrant’s transfer agent, principal underwriter and investment adviser conducted in accordance with Statement on Standards for Attestation Engagements Number 18 issued by the American Institute of Certified Public Accountants.

c)  Tax Fees:
	2019	46,000
	2020	40,000
	The tax fees consist of consulting services relating to the Registrant’s investments.
d)  All Other Fees:
	2019	2,000
	2020	None
	The other fees consist of subscription services related to an accounting research tool.
	All audit and permissible non-audit services that the Registrant’s audit committee considers compatible with maintaining the independent registered public accounting firm’s independence are required to be pre-approved by the committee.  The pre-approval requirement will extend to all non-audit services provided to the Registrant, the investment adviser, and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the Registrant, if the engagement relates directly to the operations and financial reporting of the Registrant. The committee will not delegate its responsibility to pre-approve these services to the investment adviser. The committee may delegate to one or more committee members the authority to review and pre-approve audit and permissible non-audit services.  Actions taken under any such delegation will be reported to the full committee at its next meeting. The pre-approval requirement is waived with respect to non-audit services if certain conditions are met. The pre-approval requirement was not waived for any of the non-audit services listed above provided to the Registrant, adviser and affiliates.

Aggregate non-audit fees paid to the Registrant’s auditors, including fees for all services billed to the Registrant, adviser and affiliates that provide ongoing services to the Registrant, were $1,882,000 for fiscal year 2019 and $1,537,000 for fiscal year 2020. The non-audit services represented by these amounts were brought to the attention of the committee and considered to be compatible with maintaining the auditors’ independence.

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

Not applicable, insofar as the schedule is included as part of the report to shareholders filed under Item 1 of this Form.

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)	The Code of Ethics that is the subject of the disclosure required by Item 2 is attached as an exhibit hereto.
(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,

Principal Executive Officer

Date: February 26, 2021

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,

Principal Executive Officer

Date: February 26, 2021

By ___/s/ Brian C. Janssen__________________

Brian C. Janssen, Treasurer and

Principal Financial Officer

Date: February 26, 2021