American Funds Corporate Bond Fund®
Investment portfolio
February 28, 2021
unaudited
Bonds, notes & other debt instruments 96.73% Corporate bonds, notes & loans 88.66% Financials 17.76% | Principal amount (000) | Value (000) |
ACE INA Holdings Inc. 2.875% 2022 | $1,205 | $1,252 |
ACE INA Holdings Inc. 3.35% 2026 | 675 | 746 |
Allstate Corp. 0.75% 2025 | 690 | 684 |
Allstate Corp. 1.45% 2030 | 2,000 | 1,918 |
Allstate Corp. 3.85% 2049 | 1,000 | 1,170 |
American International Group, Inc. 2.50% 2025 | 1,500 | 1,587 |
American International Group, Inc. 3.90% 2026 | 300 | 336 |
American International Group, Inc. 3.40% 2030 | 2,360 | 2,590 |
American International Group, Inc. 4.80% 2045 | 100 | 124 |
American International Group, Inc. 4.375% 2050 | 2,140 | 2,576 |
AON Corp. 2.20% 2022 | 2,126 | 2,194 |
Bank of America Corp. 1.898% 2031 (USD-SOFR + 1.53% on 7/23/2030)1 | 17,828 | 17,290 |
Bank of America Corp. 1.922% 2031 (USD-SOFR + 1.37% on 10/24/2030)1 | 17,244 | 16,754 |
Bank of America Corp. 2.676% 2041 (USD-SOFR + 1.93% on 6/19/2040)1 | 2,500 | 2,427 |
Bank of Montreal, junior subordinated, 3.803% 2032 (USD Semi Annual 30/360 (vs. 3-month USD-LIBOR) + 1.432% on 12/15/2027)1,2 | 1,025 | 1,151 |
Bank of New Zealand 1.00% 20262 | 10,944 | 10,887 |
Bank of Nova Scotia 1.05% 2026 | 7,954 | 7,894 |
Berkshire Hathaway Finance Corp. 4.20% 2048 | 813 | 981 |
Berkshire Hathaway Finance Corp. 4.25% 2049 | 300 | 364 |
Berkshire Hathaway Inc. 3.125% 2026 | 1,350 | 1,483 |
Berkshire Hathaway Inc. 4.50% 2043 | 125 | 159 |
Chubb INA Holdings Inc. 1.375% 2030 | 1,250 | 1,190 |
Citigroup Inc. 2.312% 2022 (USD-SOFR + 0.867% on 11/4/2021)1 | 2,000 | 2,025 |
Citigroup Inc. 2.572% 2031 (USD-SOFR + 2.107% on 6/3/2030)1 | 4,000 | 4,101 |
Commonwealth Bank of Australia 3.61% 2034 (UST Yield Curve Rate T Note Constant Maturity 5-year + 2.05% on 9/12/2029)1,2 | 1,375 | 1,458 |
Commonwealth Bank of Australia 3.61% 2034 (UST Yield Curve Rate T Note Constant Maturity 5-year + 2.05% on 9/12/2029)1 | 1,000 | 1,061 |
Cooperatieve Rabobank UA 2.625% 20242 | 1,200 | 1,276 |
Crédit Agricole SA 3.25% 20242 | 600 | 650 |
Crédit Agricole SA 4.375% 20252 | 200 | 221 |
Crédit Agricole SA 1.907% 2026 (USD-SOFR + 1.676% on 6/16/2025)1,2 | 350 | 359 |
Crédit Agricole SA 1.247% 2027 (USD-SOFR + 0.892% on 1/26/2026)1,2 | 2,575 | 2,552 |
Credit Suisse AG (New York Branch) 2.95% 2025 | 1,275 | 1,379 |
Credit Suisse Group AG 2.997% 2023 (3-month USD-LIBOR + 1.20% on 12/14/2022)1,2 | 650 | 678 |
Credit Suisse Group AG 3.80% 2023 | 425 | 456 |
Credit Suisse Group AG 4.194% 2031 (USD-SOFR + 3.73% on 4/1/2030)1,2 | 12,918 | 14,735 |
Deutsche Bank AG 2.129% 2026 (USD-SOFR + 1.87% on 11/24/2025)1 | 7,694 | 7,785 |
Deutsche Bank AG 3.547% 2031 (USD-SOFR + 3.043% on 9/18/2030)1 | 5,436 | 5,751 |
Five Corners Funding Trust II 2.85% 20302 | 1,000 | 1,063 |
GE Capital Funding, LLC 4.40% 20302 | 688 | 790 |
Goldman Sachs Group, Inc. 0.855% 2026 (USD-SOFR + 0.609% on 2/12/2025)1 | 1,525 | 1,514 |
Goldman Sachs Group, Inc. 1.093% 2026 (USD-SOFR + 0.789% on 12/9/2025)1 | 9,886 | 9,815 |
Goldman Sachs Group, Inc. (3-month USD-LIBOR + 1.17%) 1.364% 20263 | 500 | 512 |
Goldman Sachs Group, Inc. 2.60% 2030 | 4,004 | 4,179 |
American Funds Corporate Bond Fund — Page 1 of 21
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Financials (continued) | Principal amount (000) | Value (000) |
Goldman Sachs Group, Inc. 1.992% 2032 (USD-SOFR + 1.09% on 1/27/2031)1 | $4,221 | $4,130 |
Groupe BPCE SA 5.70% 20232 | 200 | 225 |
Groupe BPCE SA 4.625% 20242 | 200 | 223 |
Groupe BPCE SA 5.15% 20242 | 620 | 703 |
Groupe BPCE SA 1.652% 2026 (USD-SOFR + 1.52% on 10/6/2025)1,2 | 9,525 | 9,610 |
Groupe BPCE SA 2.277% 2032 (USD-SOFR + 1.312% on 1/20/2031)1,2 | 2,350 | 2,337 |
Hartford Financial Services Group, Inc. 3.60% 2049 | 300 | 326 |
HSBC Holdings PLC 4.583% 2029 (3-month USD-LIBOR + 1.535% on 6/19/2028)1 | 925 | 1,067 |
HSBC Holdings PLC 3.973% 2030 (3-month USD-LIBOR + 1.61% on 5/22/2029)1 | 4,565 | 5,105 |
HSBC Holdings PLC 2.357% 2031 (USD-SOFR + 1.947% on 8/18/2030)1 | 5,094 | 5,067 |
HSBC Holdings PLC 2.848% 2031 (USD-SOFR + 2.387% on 6/4/2030)1 | 610 | 632 |
Intercontinental Exchange, Inc. 3.00% 2060 | 2,810 | 2,683 |
Intesa Sanpaolo SpA 3.25% 20242 | 700 | 748 |
Intesa Sanpaolo SpA 3.875% 20282 | 657 | 712 |
Intesa Sanpaolo SpA 4.00% 20292 | 400 | 442 |
JPMorgan Chase & Co. 0.563% 2025 (USD-SOFR + 0.375% on 2/16/2024)1 | 1,225 | 1,223 |
JPMorgan Chase & Co. 2.301% 2025 (USD-SOFR + 1.16% on 10/15/2024)1 | 2,908 | 3,059 |
JPMorgan Chase & Co. 1.045% 2026 (USD-SOFR + 0.80% on 11/19/2025)1 | 5,500 | 5,448 |
JPMorgan Chase & Co. 1.04% 2027 (USD-SOFR + 0.695% on 2/4/2026)1 | 17,359 | 17,128 |
JPMorgan Chase & Co. 2.522% 2031 (USD-SOFR + 2.04% on 4/22/2030)1 | 7,734 | 7,954 |
JPMorgan Chase & Co. 1.953% 2032 (USD-SOFR + 1.065% on 2/4/2031)1 | 7,304 | 7,132 |
JPMorgan Chase & Co. 2.525% 2041 (USD-SOFR + 1.51% on 11/19/2040)1 | 760 | 728 |
JPMorgan Chase & Co. 3.109% 2051 (USD-SOFR + 3.109% on 4/22/2050)1 | 1,861 | 1,901 |
Lloyds Banking Group PLC 3.87% 2025 (UST Yield Curve Rate T Note Constant Maturity 1-year + 3.50% on 7/9/2024)1 | 3,710 | 4,070 |
Lloyds Banking Group PLC 3.75% 2027 | 213 | 238 |
Lloyds Banking Group PLC 4.375% 2028 | 590 | 680 |
Lloyds Banking Group PLC 4.55% 2028 | 830 | 976 |
Marsh & McLennan Companies, Inc. 4.375% 2029 | 480 | 565 |
Marsh & McLennan Companies, Inc. 2.25% 2030 | 500 | 507 |
Marsh & McLennan Companies, Inc. 4.90% 2049 | 850 | 1,137 |
MetLife, Inc. 4.55% 2030 | 2,670 | 3,214 |
MetLife, Inc. 4.60% 2046 | 100 | 128 |
Metropolitan Life Global Funding I 1.95% 20212 | 850 | 858 |
Metropolitan Life Global Funding I 3.45% 20212 | 150 | 153 |
Metropolitan Life Global Funding I 2.40% 20222 | 480 | 493 |
Metropolitan Life Global Funding I 1.95% 20232 | 3,200 | 3,298 |
Metropolitan Life Global Funding I 0.40% 20242 | 5,362 | 5,351 |
Metropolitan Life Global Funding I 3.60% 20242 | 400 | 435 |
Metropolitan Life Global Funding I 0.95% 20252 | 5,728 | 5,707 |
Metropolitan Life Global Funding I 3.45% 20262 | 150 | 169 |
Metropolitan Life Global Funding I 3.00% 20272 | 700 | 768 |
Metropolitan Life Global Funding I 3.05% 20292 | 750 | 823 |
Metropolitan Life Global Funding I 1.55% 20312 | 1,000 | 965 |
Mitsubishi UFJ Financial Group, Inc. 3.195% 2029 | 2,190 | 2,384 |
Morgan Stanley 0.529% 2024 (USD-SOFR + 0.455% on 1/25/2023)1 | 5,000 | 5,004 |
Morgan Stanley 3.70% 2024 | 1,260 | 1,391 |
Morgan Stanley 0.985% 2026 (USD-SOFR + 0.72% on 12/10/2025)1 | 21,145 | 20,908 |
Morgan Stanley 2.188% 2026 (USD-SOFR + 1.99% on 4/28/2025)1 | 3,898 | 4,061 |
Morgan Stanley 1.794% 2032 (USD-SOFR + 1.034% on 2/13/2031)1 | 5,700 | 5,475 |
Morgan Stanley 1.928% 2032 (USD-SOFR + 1.02% on 4/28/2031)1 | 2,000 | 1,944 |
Morgan Stanley 2.802% 2052 (USD-SOFR + 1.43% on 1/25/2051)1 | 1,126 | 1,074 |
National Australia Bank Ltd. 2.332% 20302 | 1,100 | 1,078 |
Nationwide Building Society 3.96% 2030 (3-month USD-LIBOR + 1.855% on 7/18/2029)1,2 | 400 | 451 |
American Funds Corporate Bond Fund — Page 2 of 21
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Financials (continued) | Principal amount (000) | Value (000) |
Nationwide Building Society 4.125% 2032 (5-year USD-ICE Swap + 1.849% on 10/18/2027)1,2 | $500 | $552 |
New York Life Global Funding 1.70% 20212 | 900 | 907 |
New York Life Global Funding 2.00% 20212 | 800 | 802 |
New York Life Global Funding 2.30% 20222 | 1,150 | 1,183 |
New York Life Global Funding 0.95% 20252 | 6,592 | 6,577 |
New York Life Global Funding 0.85% 20262 | 3,480 | 3,447 |
New York Life Global Funding 3.00% 20282 | 100 | 109 |
New York Life Global Funding 1.20% 20302 | 4,785 | 4,514 |
New York Life Insurance Company 3.75% 20502 | 74 | 82 |
Northwestern Mutual Global Funding 0.80% 20262 | 12,583 | 12,454 |
Nuveen, LLC 4.00% 20282 | 220 | 254 |
PNC Financial Services Group, Inc. 2.20% 2024 | 1,000 | 1,059 |
PNC Financial Services Group, Inc. 2.55% 2030 | 1,000 | 1,052 |
PRICOA Global Funding I 3.45% 20232 | 175 | 189 |
Progressive Corp. 3.20% 2030 | 710 | 793 |
Prudential Financial, Inc. 3.905% 2047 | 350 | 400 |
Prudential Financial, Inc. 4.35% 2050 | 250 | 302 |
Prudential Financial, Inc. 3.70% 2051 | 1,225 | 1,356 |
Prudential Financial, Inc., junior subordinated, 5.70% 2048 (3-month USD-LIBOR + 2.665% on 9/15/2028)1 | 500 | 576 |
Rabobank Nederland 4.375% 2025 | 500 | 565 |
Royal Bank of Canada 1.15% 2025 | 969 | 975 |
Royal Bank of Scotland PLC 3.073% 2028 (UST Yield Curve Rate T Note Constant Maturity 1-year + 2.55% on 5/22/2027)1 | 800 | 849 |
Royal Bank of Scotland PLC 4.445% 2030 (3-month USD-LIBOR + 1.871% on 5/5/2029)1 | 1,250 | 1,437 |
Toronto-Dominion Bank 2.65% 2024 | 500 | 534 |
Toronto-Dominion Bank 0.75% 2026 | 5,890 | 5,791 |
Travelers Companies, Inc. 4.00% 2047 | 105 | 125 |
Travelers Companies, Inc. 4.05% 2048 | 100 | 121 |
Travelers Companies, Inc. 4.10% 2049 | 380 | 466 |
Travelers Companies, Inc. 2.55% 2050 | 603 | 565 |
UBS Group AG 1.364% 2027 (UST Yield Curve Rate T Note Constant Maturity 5-year + 1.08% on 1/30/2026)1,2 | 2,600 | 2,593 |
UniCredit SpA 5.861% 2032 (5-year USD-ICE Swap + 3.703% on 6/19/2027)1,2 | 200 | 222 |
Wells Fargo & Company 2.406% 2025 (3-month USD-LIBOR + 0.825% on 10/30/2024)1 | 15,000 | 15,816 |
Wells Fargo & Company 3.196% 2027 (3-month USD-LIBOR + 1.17% on 6/17/2026)1 | 1,351 | 1,471 |
Wells Fargo & Company 2.572% 2031 (3-month USD-LIBOR + 1.00% on 2/11/2030)1 | 3,058 | 3,168 |
Westpac Banking Corp. 2.894% 2030 (UST Yield Curve Rate T Note Constant Maturity 5-year + 1.35% on 2/4/2025)1 | 9,178 | 9,555 |
Westpac Banking Corp. 4.11% 2034 (UST Yield Curve Rate T Note Constant Maturity 5-year + 2.00% on 7/24/2029)1 | 2,128 | 2,350 |
Westpac Banking Corp. 2.668% 2035 (UST Yield Curve Rate T Note Constant Maturity 5-year + 1.75% on 11/15/2030)1 | 1,225 | 1,199 |
Willis North America Inc. 2.95% 2029 | 913 | 972 |
Willis North America Inc. 3.875% 2049 | 500 | 564 |
376,951 | ||
Utilities 14.50% | ||
AEP Transmission Co. LLC 3.15% 2049 | 65 | 66 |
AEP Transmission Co. LLC 3.80% 2049 | 200 | 228 |
AEP Transmission Co. LLC 3.65% 2050 | 450 | 497 |
Ameren Corp. 1.75% 2028 | 3,075 | 3,058 |
Ameren Corp. 3.50% 2031 | 2,695 | 3,000 |
American Electric Power Company, Inc. 1.00% 2025 | 1,100 | 1,091 |
American Electric Power Company, Inc. 3.65% 2021 | 1,600 | 1,640 |
Avangrid, Inc. 3.20% 2025 | 1,950 | 2,109 |
American Funds Corporate Bond Fund — Page 3 of 21
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Utilities (continued) | Principal amount (000) | Value (000) |
CenterPoint Energy, Inc. 2.95% 2030 | $2,710 | $2,848 |
CenterPoint Energy, Inc. 2.90% 2050 | 375 | 368 |
Cleveland Electric Illuminating Co. 4.55% 20302 | 2,500 | 2,802 |
CMS Energy Corp. 3.45% 2027 | 750 | 841 |
CMS Energy Corp. 4.875% 2044 | 375 | 463 |
Connecticut Light and Power Co. 0.75% 2025 | 5,675 | 5,611 |
Connecticut Light and Power Co. 3.20% 2027 | 1,125 | 1,245 |
Consumers Energy Co. 0.35% 2023 | 925 | 925 |
Consumers Energy Co. 3.10% 2050 | 3,165 | 3,255 |
Dominion Resources, Inc. 3.30% 2025 | 1,207 | 1,309 |
Dominion Resources, Inc. 3.375% 2030 | 950 | 1,040 |
Dominion Resources, Inc., junior subordinated, 3.071% 20241 | 1,000 | 1,077 |
Duke Energy Corp. 0.90% 2025 | 1,050 | 1,040 |
Duke Energy Ohio, Inc. 2.125% 2030 | 900 | 914 |
Duke Energy Progress, LLC 2.50% 2050 | 1,445 | 1,312 |
Edison International 3.55% 2024 | 1,821 | 1,973 |
Edison International 4.95% 2025 | 1,480 | 1,663 |
Edison International 5.75% 2027 | 2,044 | 2,410 |
Edison International 4.125% 2028 | 12,913 | 14,101 |
Emera Inc. 6.75% 2076 (3-month USD-LIBOR + 5.44% on 6/15/2026)1 | 1,167 | 1,361 |
Enel Società per Azioni 8.75% 2073 (USD Semi Annual 30/360 (vs. 3-month USD-LIBOR) + 5.88% on 9/24/2023)1,2 | 1,000 | 1,165 |
Entergy Corp. 2.95% 2026 | 7,250 | 7,782 |
Entergy Corp. 1.60% 2030 | 1,300 | 1,264 |
Entergy Corp. 3.75% 2050 | 1,050 | 1,104 |
Entergy Louisiana, LLC 2.90% 2051 | 850 | 837 |
Entergy Texas, Inc. 1.75% 2031 | 4,050 | 3,951 |
Evergy Metro, Inc. 2.25% 2030 | 1,300 | 1,336 |
Exelon Corp. 4.70% 2050 | 200 | 250 |
FirstEnergy Corp. 3.35% 20221 | 5,389 | 5,499 |
FirstEnergy Corp. 2.05% 2025 | 275 | 277 |
FirstEnergy Corp. 1.60% 2026 | 4,825 | 4,746 |
FirstEnergy Corp. 4.40% 20271 | 21,708 | 23,861 |
FirstEnergy Corp. 3.50% 20282 | 1,000 | 1,046 |
FirstEnergy Corp. 2.25% 2030 | 8,830 | 8,308 |
FirstEnergy Corp. 2.65% 2030 | 14,891 | 14,734 |
FirstEnergy Corp. 7.375% 2031 | 3,389 | 4,667 |
Florida Power & Light Company 5.95% 2038 | 450 | 644 |
Florida Power & Light Company 3.15% 2049 | 249 | 262 |
Gulf Power Co. 3.30% 2027 | 1,000 | 1,110 |
Interstate Power and Light Co. 2.30% 2030 | 1,000 | 1,025 |
IPALCO Enterprises, Inc. 3.70% 2024 | 400 | 435 |
Jersey Central Power & Light Co. 4.30% 20262 | 1,085 | 1,201 |
Metropolitan Edison Co. 4.30% 20292 | 200 | 225 |
Mississippi Power Co. 3.95% 2028 | 604 | 690 |
Mississippi Power Co. 4.25% 2042 | 1,450 | 1,668 |
National Grid PLC 3.15% 20272 | 265 | 291 |
NextEra Energy Capital Holdings, Inc. 2.75% 2025 | 2,275 | 2,430 |
NextEra Energy Capital Holdings, Inc. 2.75% 2029 | 642 | 674 |
Niagara Mohawk Power Corp. 3.508% 20242 | 300 | 328 |
Northern States Power Co. 2.60% 2051 | 2,426 | 2,281 |
Oncor Electric Delivery Company LLC 0.55% 20252 | 4,050 | 3,978 |
Pacific Gas and Electric Co. 3.25% 2023 | 191 | 199 |
Pacific Gas and Electric Co. 2.95% 2026 | 6,432 | 6,752 |
Pacific Gas and Electric Co. 3.15% 2026 | 9,025 | 9,598 |
American Funds Corporate Bond Fund — Page 4 of 21
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Utilities (continued) | Principal amount (000) | Value (000) |
Pacific Gas and Electric Co. 2.10% 2027 | $6,290 | $6,263 |
Pacific Gas and Electric Co. 3.30% 2027 | 5,775 | 6,117 |
Pacific Gas and Electric Co. 3.30% 2027 | 4,391 | 4,681 |
Pacific Gas and Electric Co. 3.75% 2028 | 500 | 541 |
Pacific Gas and Electric Co. 4.65% 2028 | 8,641 | 9,673 |
Pacific Gas and Electric Co. 2.50% 2031 | 11,210 | 10,910 |
Pacific Gas and Electric Co. 3.30% 2040 | 250 | 238 |
Pacific Gas and Electric Co. 3.75% 2042 | 500 | 480 |
Pacific Gas and Electric Co. 3.50% 2050 | 4,781 | 4,335 |
PacifiCorp., First Mortgage Bonds, 3.50% 2029 | 1,000 | 1,125 |
Peco Energy Co. 2.80% 2050 | 1,800 | 1,750 |
Progress Energy, Inc. 7.00% 2031 | 3,480 | 4,828 |
Public Service Company of Colorado 1.875% 2031 | 6,475 | 6,428 |
Public Service Company of Colorado 3.80% 2047 | 2,120 | 2,427 |
Public Service Electric and Gas Co. 3.65% 2028 | 2,000 | 2,264 |
Public Service Electric and Gas Co. 3.20% 2029 | 2,173 | 2,402 |
Public Service Electric and Gas Co. 2.05% 2050 | 850 | 715 |
Public Service Enterprise Group Inc. 2.25% 2026 | 2,000 | 2,121 |
Public Service Enterprise Group Inc. 1.60% 2030 | 4,000 | 3,781 |
San Diego Gas & Electric Co. 2.50% 2026 | 364 | 388 |
San Diego Gas & Electric Co. 1.70% 2030 | 7,650 | 7,415 |
San Diego Gas & Electric Co. 6.125% 2037 | 1,650 | 2,189 |
San Diego Gas & Electric Co. 4.50% 2040 | 750 | 908 |
San Diego Gas & Electric Co. 4.10% 2049 | 949 | 1,119 |
Southern California Edison Co. (3-month USD-LIBOR + 0.27%) 0.502% 20213 | 925 | 926 |
Southern California Edison Co. 2.90% 2021 | 5,000 | 5,000 |
Southern California Edison Co. 3.70% 2025 | 6,808 | 7,494 |
Southern California Edison Co. 3.65% 2028 | 150 | 166 |
Southern California Edison Co. 2.85% 2029 | 1,000 | 1,057 |
Southern California Edison Co. 2.25% 2030 | 3,460 | 3,481 |
Southern California Edison Co. 4.125% 2048 | 961 | 1,060 |
Southern California Edison Co. 3.65% 2050 | 3,214 | 3,311 |
Southern California Edison Co. 2.95% 2051 | 6,820 | 6,260 |
Southern California Edison Co., Series C, 3.60% 2045 | 956 | 975 |
Southern California Gas Company 2.55% 2030 | 1,300 | 1,356 |
Virginia Electric and Power Co. 3.15% 2026 | 1,150 | 1,256 |
Virginia Electric and Power Co. 2.45% 2050 | 4,020 | 3,625 |
Xcel Energy Inc. 3.35% 2026 | 5,712 | 6,312 |
Xcel Energy Inc. 2.60% 2029 | 4,648 | 4,882 |
Xcel Energy Inc. 3.40% 2030 | 1,000 | 1,099 |
Xcel Energy Inc. 6.50% 2036 | 2,000 | 2,924 |
Xcel Energy Inc. 3.50% 2049 | 650 | 688 |
307,835 | ||
Energy 10.18% | ||
Baker Hughes, a GE Co. 4.08% 2047 | 332 | 365 |
BP Capital Markets America Inc. 1.749% 2030 | 2,571 | 2,483 |
BP Capital Markets America Inc. 3.633% 2030 | 630 | 705 |
BP Capital Markets America Inc. 2.772% 2050 | 496 | 439 |
BP Capital Markets America Inc. 2.939% 2051 | 900 | 824 |
BP Capital Markets PLC 3.79% 2024 | 3,625 | 3,952 |
BP Capital Markets PLC 3.41% 2026 | 1,750 | 1,925 |
Canadian Natural Resources Ltd. 2.95% 2023 | 997 | 1,038 |
Canadian Natural Resources Ltd. 2.05% 2025 | 1,487 | 1,524 |
American Funds Corporate Bond Fund — Page 5 of 21
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Energy (continued) | Principal amount (000) | Value (000) |
Canadian Natural Resources Ltd. 3.85% 2027 | $5,095 | $5,632 |
Canadian Natural Resources Ltd. 2.95% 2030 | 2,613 | 2,683 |
Canadian Natural Resources Ltd. 4.95% 2047 | 329 | 398 |
Cheniere Energy, Inc. 3.70% 2029 | 8,148 | 8,831 |
Chevron Corp. 1.554% 2025 | 680 | 697 |
Chevron Corp. 2.954% 2026 | 760 | 824 |
Chevron Corp. 1.995% 2027 | 2,925 | 3,037 |
Chevron Corp. 2.236% 2030 | 2,477 | 2,537 |
Chevron USA Inc. 0.687% 2025 | 13,680 | 13,524 |
Chevron USA Inc. 1.018% 2027 | 16,820 | 16,435 |
ConocoPhillips 4.30% 20282 | 1,149 | 1,337 |
ConocoPhillips 2.40% 20312 | 2,496 | 2,540 |
Enbridge Energy Partners, LP 7.375% 2045 | 3,751 | 5,518 |
Energy Transfer Operating, LP 2.90% 2025 | 1,501 | 1,576 |
Energy Transfer Operating, LP 3.75% 2030 | 2,041 | 2,159 |
Energy Transfer Operating, LP 5.00% 2050 | 11,821 | 12,546 |
Energy Transfer Partners, LP 4.20% 2027 | 1,623 | 1,798 |
Energy Transfer Partners, LP 6.125% 2045 | 125 | 145 |
Energy Transfer Partners, LP 5.30% 2047 | 515 | 561 |
Energy Transfer Partners, LP 6.00% 2048 | 2,673 | 3,118 |
Energy Transfer Partners, LP 6.25% 2049 | 955 | 1,144 |
Enterprise Products Operating LLC 2.80% 2030 | 848 | 892 |
Enterprise Products Operating LLC 3.20% 2052 | 3,412 | 3,185 |
EOG Resources, Inc. 4.375% 2030 | 897 | 1,054 |
Exxon Mobil Corp. 2.019% 2024 | 3,660 | 3,832 |
Exxon Mobil Corp. 2.992% 2025 | 1,000 | 1,079 |
Exxon Mobil Corp. 2.44% 2029 | 1,103 | 1,152 |
Exxon Mobil Corp. 2.995% 2039 | 120 | 121 |
Exxon Mobil Corp. 3.452% 2051 | 489 | 503 |
Gray Oak Pipeline, LLC 3.45% 20272 | 1,945 | 2,010 |
Kinder Morgan Energy Partners, LP 3.50% 2023 | 1,570 | 1,675 |
Kinder Morgan, Inc. 3.15% 2023 | 610 | 640 |
Kinder Morgan, Inc. 2.00% 2031 | 2,000 | 1,914 |
Kinder Morgan, Inc. 5.20% 2048 | 651 | 779 |
Kinder Morgan, Inc. 3.25% 2050 | 1,500 | 1,369 |
MPLX LP 3.50% 2022 | 650 | 681 |
MPLX LP 1.75% 2026 | 4,497 | 4,535 |
MPLX LP 4.80% 2029 | 690 | 808 |
MPLX LP 2.65% 2030 | 5,601 | 5,578 |
MPLX LP 5.50% 2049 | 3,525 | 4,290 |
ONEOK, Inc. 2.20% 2025 | 1,907 | 1,966 |
ONEOK, Inc. 5.85% 2026 | 5,015 | 5,943 |
ONEOK, Inc. 4.00% 2027 | 259 | 285 |
ONEOK, Inc. 4.55% 2028 | 85 | 95 |
ONEOK, Inc. 4.35% 2029 | 151 | 167 |
ONEOK, Inc. 3.10% 2030 | 2,779 | 2,847 |
ONEOK, Inc. 6.35% 2031 | 2,538 | 3,212 |
ONEOK, Inc. 4.95% 2047 | 67 | 72 |
ONEOK, Inc. 5.20% 2048 | 2,577 | 2,873 |
ONEOK, Inc. 4.45% 2049 | 403 | 405 |
ONEOK, Inc. 4.50% 2050 | 551 | 564 |
ONEOK, Inc. 7.15% 2051 | 1,095 | 1,486 |
Petróleos Mexicanos (3-month USD-LIBOR + 3.65%) 3.871% 20223 | 950 | 960 |
Petróleos Mexicanos 3.50% 2023 | 2,160 | 2,187 |
American Funds Corporate Bond Fund — Page 6 of 21
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Energy (continued) | Principal amount (000) | Value (000) |
Petróleos Mexicanos 6.875% 20252 | $1,305 | $1,419 |
Petróleos Mexicanos 6.50% 2027 | 1,670 | 1,735 |
Phillips 66 2.15% 2030 | 516 | 503 |
Pioneer Natural Resources Company 1.125% 2026 | 286 | 284 |
Pioneer Natural Resources Company 1.90% 2030 | 2,458 | 2,366 |
Pioneer Natural Resources Company 2.15% 2031 | 549 | 536 |
Plains All American Pipeline, LP 3.80% 2030 | 1,417 | 1,473 |
Sabine Pass Liquefaction, LLC 4.50% 2030 | 6,877 | 7,880 |
Shell International Finance BV 2.375% 2025 | 1,250 | 1,322 |
Shell International Finance BV 3.875% 2028 | 1,440 | 1,648 |
Shell International Finance BV 2.375% 2029 | 1,800 | 1,854 |
Shell International Finance BV 2.75% 2030 | 5,000 | 5,282 |
Shell International Finance BV 3.125% 2049 | 280 | 278 |
Shell International Finance BV 3.25% 2050 | 620 | 628 |
Sunoco Logistics Operating Partners, LP 4.00% 2027 | 790 | 861 |
Sunoco Logistics Operating Partners, LP 5.40% 2047 | 451 | 496 |
Total Capital International 3.455% 2029 | 2,860 | 3,187 |
Total Capital International 3.127% 2050 | 1,117 | 1,095 |
Total SE 2.986% 2041 | 560 | 565 |
TransCanada PipeLines Ltd. 4.10% 2030 | 7,332 | 8,378 |
TransCanada PipeLines Ltd. 5.10% 2049 | 750 | 932 |
Williams Companies, Inc. 3.50% 2030 | 6,266 | 6,815 |
Williams Companies, Inc. 2.60% 2031 | 4,192 | 4,203 |
Williams Partners LP 4.50% 2023 | 2,000 | 2,190 |
Williams Partners LP 3.90% 2025 | 165 | 180 |
Williams Partners LP 6.30% 2040 | 248 | 325 |
Williams Partners LP 5.10% 2045 | 165 | 196 |
216,085 | ||
Information technology 8.40% | ||
Adobe Inc. 1.90% 2025 | 327 | 341 |
Adobe Inc. 2.15% 2027 | 1,116 | 1,172 |
Adobe Inc. 2.30% 2030 | 6,124 | 6,339 |
Apple Inc. 0.75% 2023 | 4,775 | 4,820 |
Apple Inc. 1.80% 2024 | 2,000 | 2,092 |
Apple Inc. 0.55% 2025 | 7,040 | 6,952 |
Apple Inc. 1.125% 2025 | 4,510 | 4,561 |
Apple Inc. 1.25% 2030 | 6,895 | 6,552 |
Apple Inc. 1.65% 2031 | 3,000 | 2,932 |
Apple Inc. 2.375% 2041 | 1,310 | 1,239 |
Apple Inc. 2.40% 2050 | 3,100 | 2,712 |
Apple Inc. 2.65% 2050 | 529 | 498 |
Apple Inc. 2.65% 2051 | 9,535 | 8,891 |
Apple Inc. 2.80% 2061 | 965 | 899 |
Broadcom Inc. 4.70% 2025 | 812 | 917 |
Broadcom Inc. 4.75% 2029 | 5,255 | 6,026 |
Broadcom Inc. 4.15% 2030 | 2,000 | 2,213 |
Broadcom Inc. 5.00% 2030 | 6,190 | 7,203 |
Broadcom Inc. 3.50% 20412 | 5,505 | 5,494 |
Broadcom Inc. 3.75% 20512 | 2,278 | 2,252 |
Broadcom Ltd. 3.625% 2024 | 950 | 1,023 |
Broadcom Ltd. 3.875% 2027 | 2,305 | 2,529 |
Broadcom Ltd. 3.50% 2028 | 767 | 825 |
Fidelity National Information Services, Inc. 1.15% 2026 | 4,758 | 4,742 |
American Funds Corporate Bond Fund — Page 7 of 21
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Information technology (continued) | Principal amount (000) | Value (000) |
Fidelity National Information Services, Inc. 1.65% 2028 | $3,028 | $3,003 |
Fidelity National Information Services, Inc. 2.25% 2031 | 6,721 | 6,695 |
Fidelity National Information Services, Inc. 3.10% 2041 | 273 | 277 |
Fiserv, Inc. 2.75% 2024 | 2,375 | 2,527 |
Fiserv, Inc. 2.25% 2027 | 2,595 | 2,699 |
Fiserv, Inc. 3.50% 2029 | 2,835 | 3,129 |
Fiserv, Inc. 2.65% 2030 | 4,300 | 4,454 |
Fiserv, Inc. 4.40% 2049 | 1,850 | 2,211 |
Fortinet, Inc. 2.20% 2031 | 1,523 | 1,523 |
Global Payments Inc. 1.20% 2026 | 2,782 | 2,763 |
Global Payments Inc. 2.90% 2030 | 4,786 | 5,002 |
Intuit Inc. 0.65% 2023 | 960 | 968 |
Intuit Inc. 0.95% 2025 | 1,615 | 1,620 |
Intuit Inc. 1.35% 2027 | 1,790 | 1,791 |
Intuit Inc. 1.65% 2030 | 2,035 | 2,002 |
Microsoft Corp. 2.40% 2022 | 3,000 | 3,056 |
Microsoft Corp. 3.30% 2027 | 1,500 | 1,675 |
Microsoft Corp. 2.525% 2050 | 1,370 | 1,290 |
Oracle Corp. 1.90% 2021 | 800 | 806 |
Oracle Corp. 2.50% 2025 | 2,275 | 2,412 |
Oracle Corp. 3.60% 2050 | 4,945 | 5,191 |
PayPal Holdings, Inc. 2.40% 2024 | 850 | 901 |
PayPal Holdings, Inc. 2.65% 2026 | 554 | 596 |
PayPal Holdings, Inc. 2.85% 2029 | 2,973 | 3,187 |
PayPal Holdings, Inc. 2.30% 2030 | 2,366 | 2,429 |
PayPal Holdings, Inc. 3.25% 2050 | 1,273 | 1,339 |
ServiceNow, Inc. 1.40% 2030 | 14,180 | 13,203 |
Visa Inc. 2.15% 2022 | 1,250 | 1,285 |
Visa Inc. 0.75% 2027 | 8,070 | 7,853 |
Visa Inc. 1.10% 2031 | 7,200 | 6,756 |
Visa Inc. 2.00% 2050 | 3,000 | 2,556 |
178,423 | ||
Consumer staples 7.83% | ||
7-Eleven, Inc. 0.95% 20262 | 3,910 | 3,853 |
7-Eleven, Inc. 1.30% 20282 | 4,080 | 3,978 |
7-Eleven, Inc. 1.80% 20312 | 12,336 | 11,877 |
7-Eleven, Inc. 2.80% 20512 | 100 | 93 |
Altria Group, Inc. 2.35% 2025 | 140 | 146 |
Altria Group, Inc. 4.40% 2026 | 97 | 111 |
Altria Group, Inc. 4.80% 2029 | 1,023 | 1,200 |
Altria Group, Inc. 3.40% 2030 | 984 | 1,056 |
Altria Group, Inc. 2.45% 2032 | 2,000 | 1,944 |
Altria Group, Inc. 5.80% 2039 | 110 | 137 |
Altria Group, Inc. 5.375% 2044 | 314 | 381 |
Altria Group, Inc. 5.95% 2049 | 2,433 | 3,113 |
Altria Group, Inc. 4.45% 2050 | 102 | 108 |
Altria Group, Inc. 3.70% 2051 | 5,865 | 5,493 |
Anheuser-Busch Co. / InBev Worldwide 4.90% 2046 | 5,095 | 6,147 |
Anheuser-Busch InBev NV 4.15% 2025 | 1,000 | 1,117 |
Anheuser-Busch InBev NV 4.00% 2028 | 200 | 228 |
Anheuser-Busch InBev NV 4.75% 2029 | 1,531 | 1,812 |
Anheuser-Busch InBev NV 3.50% 2030 | 2,216 | 2,451 |
Anheuser-Busch InBev NV 4.90% 2031 | 250 | 306 |
American Funds Corporate Bond Fund — Page 8 of 21
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Consumer staples (continued) | Principal amount (000) | Value (000) |
Anheuser-Busch InBev NV 5.55% 2049 | $889 | $1,159 |
Anheuser-Busch InBev NV 4.50% 2050 | 1,487 | 1,718 |
British American Tobacco International Finance PLC 1.668% 2026 | 986 | 989 |
British American Tobacco PLC 2.789% 2024 | 900 | 958 |
British American Tobacco PLC 3.215% 2026 | 705 | 760 |
British American Tobacco PLC 3.557% 2027 | 5,146 | 5,592 |
British American Tobacco PLC 4.70% 2027 | 180 | 206 |
British American Tobacco PLC 2.259% 2028 | 7,488 | 7,497 |
British American Tobacco PLC 4.906% 2030 | 4,186 | 4,868 |
British American Tobacco PLC 2.726% 2031 | 5,140 | 5,091 |
British American Tobacco PLC 4.54% 2047 | 2,567 | 2,637 |
British American Tobacco PLC 4.758% 2049 | 2,141 | 2,258 |
Coca-Cola Company 1.75% 2024 | 2,250 | 2,343 |
Coca-Cola Company 1.00% 2028 | 645 | 625 |
Coca-Cola Company 1.375% 2031 | 1,790 | 1,708 |
Coca-Cola Company 2.50% 2051 | 253 | 234 |
Conagra Brands, Inc. 4.30% 2024 | 2,900 | 3,217 |
Conagra Brands, Inc. 4.60% 2025 | 1,615 | 1,858 |
Conagra Brands, Inc. 1.375% 2027 | 2,710 | 2,654 |
Conagra Brands, Inc. 5.30% 2038 | 31 | 40 |
Conagra Brands, Inc. 5.40% 2048 | 617 | 816 |
Constellation Brands, Inc. 2.65% 2022 | 600 | 622 |
Constellation Brands, Inc. 4.25% 2023 | 457 | 493 |
Constellation Brands, Inc. 3.60% 2028 | 200 | 224 |
Constellation Brands, Inc. 2.875% 2030 | 2,873 | 3,025 |
Constellation Brands, Inc. 4.10% 2048 | 200 | 228 |
Costco Wholesale Corp. 2.30% 2022 | 150 | 154 |
Costco Wholesale Corp. 2.75% 2024 | 150 | 161 |
Costco Wholesale Corp. 1.60% 2030 | 2,000 | 1,958 |
Keurig Dr Pepper Inc. 3.551% 2021 | 312 | 314 |
Keurig Dr Pepper Inc. 4.057% 2023 | 637 | 686 |
Keurig Dr Pepper Inc. 4.417% 2025 | 2,592 | 2,931 |
Keurig Dr Pepper Inc. 4.597% 2028 | 591 | 699 |
Keurig Dr Pepper Inc. 3.20% 2030 | 1,090 | 1,181 |
Keurig Dr Pepper Inc. 5.085% 2048 | 450 | 584 |
Keurig Dr Pepper Inc. 3.80% 2050 | 1,569 | 1,718 |
Kimberly-Clark Corp. 1.05% 2027 | 2,390 | 2,355 |
Kimberly-Clark Corp. 3.10% 2030 | 528 | 582 |
Molson Coors Brewing Co. 4.20% 2046 | 1,050 | 1,126 |
Nestlé Holdings, Inc. 3.35% 20232 | 2,200 | 2,366 |
Nestlé Holdings, Inc. 0.625% 20262 | 6,160 | 6,069 |
Nestlé Holdings, Inc. 1.00% 20272 | 4,778 | 4,669 |
Nestlé Holdings, Inc. 1.25% 20302 | 5,000 | 4,785 |
PepsiCo, Inc. 1.40% 2031 | 7,394 | 7,089 |
PepsiCo, Inc. 3.625% 2050 | 1,130 | 1,281 |
Philip Morris International Inc. 2.875% 2024 | 972 | 1,037 |
Philip Morris International Inc. 1.50% 2025 | 228 | 233 |
Philip Morris International Inc. 0.875% 2026 | 1,035 | 1,019 |
Philip Morris International Inc. 3.375% 2029 | 1,395 | 1,541 |
Philip Morris International Inc. 1.75% 2030 | 3,904 | 3,771 |
Philip Morris International Inc. 2.10% 2030 | 2,186 | 2,180 |
Philip Morris International Inc. 4.125% 2043 | 512 | 579 |
Procter & Gamble Company 0.55% 2025 | 3,705 | 3,662 |
Procter & Gamble Company 2.80% 2027 | 83 | 91 |
American Funds Corporate Bond Fund — Page 9 of 21
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Consumer staples (continued) | Principal amount (000) | Value (000) |
Procter & Gamble Company 1.20% 2030 | $7,050 | $6,731 |
Procter & Gamble Company 3.00% 2030 | 152 | 167 |
Reynolds American Inc. 4.45% 2025 | 225 | 251 |
Reynolds American Inc. 5.85% 2045 | 225 | 268 |
Wal-Mart Stores, Inc. 3.125% 2021 | 1,000 | 1,009 |
Wal-Mart Stores, Inc. 2.35% 2022 | 200 | 207 |
Wal-Mart Stores, Inc. 2.85% 2024 | 3,102 | 3,341 |
Wal-Mart Stores, Inc. 3.05% 2026 | 550 | 606 |
Wal-Mart Stores, Inc. 3.70% 2028 | 350 | 401 |
Wal-Mart Stores, Inc. 2.375% 2029 | 1,000 | 1,055 |
166,228 | ||
Health care 7.68% | ||
Abbott Laboratories 3.40% 2023 | 1,556 | 1,679 |
Abbott Laboratories 3.75% 2026 | 31 | 35 |
AbbVie Inc. 2.95% 2026 | 362 | 392 |
AbbVie Inc. 3.20% 2029 | 825 | 893 |
AbbVie Inc. 4.75% 2045 | 100 | 122 |
AbbVie Inc. 4.25% 2049 | 780 | 904 |
Amgen Inc. 3.15% 2040 | 278 | 287 |
Amgen Inc. 3.375% 2050 | 449 | 462 |
AstraZeneca PLC 2.375% 2022 | 1,000 | 1,024 |
AstraZeneca PLC 3.375% 2025 | 1,740 | 1,913 |
AstraZeneca PLC 0.70% 2026 | 5,265 | 5,121 |
AstraZeneca PLC 4.00% 2029 | 1,102 | 1,269 |
AstraZeneca PLC 1.375% 2030 | 2,000 | 1,890 |
Bayer US Finance II LLC 4.25% 20252 | 450 | 507 |
Bayer US Finance II LLC 4.375% 20282 | 1,800 | 2,090 |
Bayer US Finance II LLC 4.875% 20482 | 800 | 1,000 |
Becton, Dickinson and Company 2.894% 2022 | 4,272 | 4,396 |
Becton, Dickinson and Company 3.363% 2024 | 1,150 | 1,243 |
Becton, Dickinson and Company 3.70% 2027 | 9,331 | 10,467 |
Becton, Dickinson and Company 2.823% 2030 | 1,260 | 1,331 |
Becton, Dickinson and Company 3.794% 2050 | 425 | 471 |
Boston Scientific Corp. 3.375% 2022 | 350 | 363 |
Boston Scientific Corp. 3.45% 2024 | 300 | 323 |
Boston Scientific Corp. 3.75% 2026 | 1,146 | 1,280 |
Boston Scientific Corp. 2.65% 2030 | 4,280 | 4,437 |
Boston Scientific Corp. 4.70% 2049 | 415 | 523 |
Bristol-Myers Squibb Company 0.75% 2025 | 2,733 | 2,722 |
Bristol-Myers Squibb Company 1.45% 2030 | 3,255 | 3,127 |
Centene Corp. 4.75% 2025 | 1,000 | 1,026 |
Centene Corp. 4.625% 2029 | 2,470 | 2,668 |
Centene Corp. 3.00% 2030 | 4,185 | 4,256 |
Centene Corp. 3.375% 2030 | 1,963 | 2,020 |
Centene Corp. 2.50% 2031 | 5,015 | 4,857 |
Cigna Corp. 3.75% 2023 | 266 | 286 |
Cigna Corp. 4.375% 2028 | 1,160 | 1,354 |
CVS Health Corp. 3.35% 2021 | 823 | 823 |
CVS Health Corp. 1.30% 2027 | 5,000 | 4,896 |
CVS Health Corp. 4.30% 2028 | 436 | 502 |
CVS Health Corp. 1.75% 2030 | 2,500 | 2,412 |
CVS Health Corp. 1.875% 2031 | 5,000 | 4,837 |
CVS Health Corp. 5.05% 2048 | 68 | 86 |
American Funds Corporate Bond Fund — Page 10 of 21
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Health care (continued) | Principal amount (000) | Value (000) |
Eli Lilly and Company 2.35% 2022 | $2,000 | $2,050 |
Eli Lilly and Company 2.75% 2025 | 688 | 739 |
Eli Lilly and Company 3.375% 2029 | 2,990 | 3,350 |
GlaxoSmithKline PLC 2.875% 2022 | 1,514 | 1,560 |
GlaxoSmithKline PLC 3.375% 2023 | 475 | 507 |
GlaxoSmithKline PLC 3.00% 2024 | 1,115 | 1,197 |
GlaxoSmithKline PLC 3.625% 2025 | 2,934 | 3,258 |
GlaxoSmithKline PLC 3.875% 2028 | 211 | 244 |
GlaxoSmithKline PLC 3.375% 2029 | 1,145 | 1,289 |
HCA Inc. 4.125% 2029 | 1,000 | 1,130 |
Johnson & Johnson 1.30% 2030 | 2,970 | 2,845 |
Medtronic, Inc. 3.50% 2025 | 62 | 68 |
Merck & Co., Inc. 2.90% 2024 | 1,000 | 1,071 |
Merck & Co., Inc. 2.75% 2025 | 1,845 | 1,976 |
Merck & Co., Inc. 1.45% 2030 | 4,479 | 4,341 |
Novartis Capital Corp. 1.75% 2025 | 3,478 | 3,598 |
Novartis Capital Corp. 2.00% 2027 | 3,510 | 3,669 |
Novartis Capital Corp. 2.20% 2030 | 6,858 | 7,090 |
Partners HealthCare System, Inc. 3.192% 2049 | 1,000 | 1,038 |
Pfizer Inc. 3.00% 2021 | 657 | 667 |
Pfizer Inc. 2.80% 2022 | 459 | 471 |
Pfizer Inc. 3.20% 2023 | 2,102 | 2,249 |
Pfizer Inc. 2.95% 2024 | 2,000 | 2,149 |
Pfizer Inc. 2.75% 2026 | 2,188 | 2,375 |
Pfizer Inc. 1.70% 2030 | 3,255 | 3,215 |
Shire PLC 3.20% 2026 | 2,824 | 3,093 |
Takeda Pharmaceutical Company, Ltd. 4.40% 2023 | 4,263 | 4,696 |
Takeda Pharmaceutical Company, Ltd. 5.00% 2028 | 530 | 643 |
Teva Pharmaceutical Finance Co. BV 2.80% 2023 | 5,365 | 5,264 |
Teva Pharmaceutical Finance Co. BV 3.15% 2026 | 615 | 578 |
Teva Pharmaceutical Finance Co. BV 4.10% 2046 | 1,650 | 1,398 |
Thermo Fisher Scientific Inc. 4.497% 2030 | 330 | 393 |
UnitedHealth Group Inc. 2.125% 2021 | 100 | 100 |
UnitedHealth Group Inc. 2.375% 2024 | 1,055 | 1,121 |
UnitedHealth Group Inc. 3.50% 2024 | 845 | 919 |
UnitedHealth Group Inc. 3.75% 2025 | 400 | 447 |
UnitedHealth Group Inc. 2.875% 2029 | 1,155 | 1,252 |
UnitedHealth Group Inc. 2.00% 2030 | 2,000 | 2,007 |
UnitedHealth Group Inc. 4.45% 2048 | 1,220 | 1,526 |
UnitedHealth Group Inc. 2.90% 2050 | 1,000 | 983 |
Upjohn Inc. 2.70% 20302 | 3,920 | 3,978 |
Upjohn Inc. 4.00% 20502 | 812 | 845 |
Zimmer Holdings, Inc. 3.15% 2022 | 400 | 410 |
Zimmer Holdings, Inc. 3.70% 2023 | 925 | 981 |
163,074 | ||
Consumer discretionary 6.86% | ||
Amazon.com, Inc. 3.80% 2024 | 700 | 779 |
Amazon.com, Inc. 1.20% 2027 | 1,250 | 1,246 |
Amazon.com, Inc. 1.50% 2030 | 6,000 | 5,851 |
Amazon.com, Inc. 2.50% 2050 | 1,920 | 1,779 |
Amazon.com, Inc. 2.70% 2060 | 1,745 | 1,616 |
American Honda Finance Corp. 0.875% 2023 | 7,000 | 7,075 |
American Honda Finance Corp. 0.55% 2024 | 4,210 | 4,200 |
American Funds Corporate Bond Fund — Page 11 of 21
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Consumer discretionary (continued) | Principal amount (000) | Value (000) |
American Honda Finance Corp. 1.00% 2025 | $1,000 | $996 |
American Honda Finance Corp. 1.20% 2025 | 4,832 | 4,874 |
American Honda Finance Corp. 1.80% 2031 | 1,610 | 1,586 |
Bayerische Motoren Werke AG 1.85% 20212 | 100 | 101 |
Bayerische Motoren Werke AG 2.00% 20212 | 400 | 400 |
Bayerische Motoren Werke AG 3.45% 20232 | 472 | 501 |
Bayerische Motoren Werke AG 3.80% 20232 | 1,059 | 1,131 |
Bayerische Motoren Werke AG 3.90% 20252 | 257 | 285 |
DaimlerChrysler North America Holding Corp. 0.75% 20242 | 1,000 | 1,002 |
DaimlerChrysler North America Holding Corp. 1.45% 20262 | 5,075 | 5,096 |
DaimlerChrysler North America Holding Corp. 2.45% 20312 | 3,425 | 3,488 |
General Motors Company 5.40% 2023 | 737 | 822 |
General Motors Company 6.125% 2025 | 823 | 980 |
General Motors Company 6.60% 2036 | 45 | 61 |
General Motors Company 6.75% 2046 | 305 | 425 |
General Motors Company 5.95% 2049 | 380 | 497 |
General Motors Financial Co. 3.55% 2021 | 200 | 201 |
General Motors Financial Co. 3.55% 2022 | 870 | 902 |
General Motors Financial Co. 5.20% 2023 | 738 | 805 |
General Motors Financial Co. 3.50% 2024 | 1,690 | 1,827 |
General Motors Financial Co. 2.75% 2025 | 4,295 | 4,523 |
General Motors Financial Co. 2.90% 2025 | 250 | 266 |
Home Depot, Inc. 0.90% 2028 | 2,310 | 2,238 |
Home Depot, Inc. 3.90% 2028 | 125 | 145 |
Home Depot, Inc. 2.95% 2029 | 2,533 | 2,756 |
Home Depot, Inc. 1.375% 2031 | 5,562 | 5,279 |
Home Depot, Inc. 4.50% 2048 | 85 | 107 |
Home Depot, Inc. 3.125% 2049 | 96 | 98 |
Home Depot, Inc. 3.35% 2050 | 1,570 | 1,676 |
Home Depot, Inc. 2.375% 2051 | 1,149 | 1,026 |
Hyundai Capital America 3.25% 20222 | 150 | 156 |
Hyundai Capital America 1.25% 20232 | 945 | 955 |
Hyundai Capital America 1.80% 20252 | 774 | 783 |
Hyundai Capital America 2.375% 20272 | 210 | 216 |
Lowe’s Companies, Inc. 3.65% 2029 | 2,002 | 2,250 |
Lowe’s Companies, Inc. 4.05% 2047 | 39 | 44 |
Lowe’s Companies, Inc. 3.00% 2050 | 646 | 617 |
McDonald’s Corp. 2.125% 2030 | 404 | 407 |
Morongo Band of Mission Indians 7.00% 20392 | 1,100 | 1,320 |
Toyota Motor Credit Corp. 2.15% 2022 | 625 | 643 |
Toyota Motor Credit Corp. 2.60% 2022 | 720 | 734 |
Toyota Motor Credit Corp. 0.50% 2023 | 29,100 | 29,198 |
Toyota Motor Credit Corp. 0.45% 2024 | 10,410 | 10,416 |
Toyota Motor Credit Corp. 0.80% 2025 | 4,990 | 4,949 |
Toyota Motor Credit Corp. 1.80% 2025 | 200 | 207 |
Toyota Motor Credit Corp. 0.80% 2026 | 640 | 634 |
Toyota Motor Credit Corp. 1.15% 2027 | 6,500 | 6,400 |
Toyota Motor Credit Corp. 3.20% 2027 | 840 | 930 |
Toyota Motor Credit Corp. 3.05% 2028 | 384 | 422 |
Toyota Motor Credit Corp. 3.375% 2030 | 1,804 | 2,007 |
Volkswagen Group of America Finance, LLC 4.00% 20212 | 475 | 487 |
Volkswagen Group of America Finance, LLC 2.90% 20222 | 450 | 463 |
Volkswagen Group of America Finance, LLC 2.85% 20242 | 1,334 | 1,426 |
Volkswagen Group of America Finance, LLC 1.25% 20252 | 9,200 | 9,199 |
American Funds Corporate Bond Fund — Page 12 of 21
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Consumer discretionary (continued) | Principal amount (000) | Value (000) |
Volkswagen Group of America Finance, LLC 3.35% 20252 | $2,372 | $2,572 |
Volkswagen Group of America Finance, LLC 1.625% 20272 | 1,620 | 1,605 |
145,680 | ||
Industrials 6.30% | ||
3M Co. 2.25% 2023 | 1,400 | 1,458 |
3M Co. 3.25% 2024 | 90 | 97 |
Boeing Company 4.875% 2025 | 1,650 | 1,845 |
Boeing Company 2.196% 2026 | 6,750 | 6,765 |
Boeing Company 2.75% 2026 | 8,914 | 9,237 |
Boeing Company 5.04% 2027 | 2,126 | 2,453 |
Boeing Company 3.25% 2028 | 13,799 | 14,491 |
Boeing Company 5.15% 2030 | 1,844 | 2,150 |
Boeing Company 3.625% 2031 | 102 | 108 |
Boeing Company 5.805% 2050 | 680 | 879 |
Burlington Northern Santa Fe LLC 3.00% 2023 | 1,000 | 1,047 |
Burlington Northern Santa Fe LLC 3.05% 2051 | 3,740 | 3,802 |
Canadian National Railway Company 3.20% 2046 | 230 | 244 |
Carrier Global Corp. 2.242% 2025 | 3,753 | 3,918 |
Carrier Global Corp. 2.493% 2027 | 823 | 865 |
Carrier Global Corp. 2.722% 2030 | 1,391 | 1,439 |
Carrier Global Corp. 3.377% 2040 | 119 | 124 |
Carrier Global Corp. 3.577% 2050 | 103 | 106 |
CSX Corp. 3.80% 2028 | 1,559 | 1,764 |
CSX Corp. 4.25% 2029 | 1,000 | 1,170 |
CSX Corp. 2.40% 2030 | 425 | 442 |
CSX Corp. 3.35% 2049 | 1,015 | 1,050 |
CSX Corp. 2.50% 2051 | 3,775 | 3,360 |
GE Capital Funding, LLC 3.45% 20252 | 250 | 272 |
General Dynamics Corp. 3.75% 2028 | 736 | 838 |
General Dynamics Corp. 4.25% 2050 | 224 | 279 |
General Electric Capital Corp. 3.373% 2025 | 2,025 | 2,211 |
General Electric Capital Corp. 4.418% 2035 | 500 | 572 |
General Electric Co. 3.45% 2027 | 8,118 | 8,921 |
General Electric Co. 3.625% 2030 | 4,875 | 5,326 |
General Electric Co. 4.25% 2040 | 575 | 639 |
General Electric Co. 4.125% 2042 | 8 | 9 |
General Electric Co. 4.35% 2050 | 975 | 1,086 |
Honeywell International Inc. 2.15% 2022 | 9,550 | 9,803 |
Honeywell International Inc. 2.30% 2024 | 3,525 | 3,747 |
Honeywell International Inc. 1.35% 2025 | 124 | 127 |
Honeywell International Inc. 2.70% 2029 | 1,522 | 1,636 |
Honeywell International Inc. 1.95% 2030 | 2,750 | 2,786 |
Honeywell International Inc. 2.80% 2050 | 150 | 150 |
L3Harris Technologies, Inc. 1.80% 2031 | 925 | 899 |
Masco Corp. 1.50% 2028 | 1,227 | 1,210 |
Masco Corp. 2.00% 2031 | 3,009 | 2,952 |
Masco Corp. 3.125% 2051 | 179 | 177 |
Norfolk Southern Corp. 3.00% 2022 | 1,071 | 1,096 |
Norfolk Southern Corp. 3.05% 2050 | 1,554 | 1,544 |
Northrop Grumman Corp. 2.55% 2022 | 3,560 | 3,679 |
Northrop Grumman Corp. 3.25% 2028 | 1,210 | 1,319 |
Northrop Grumman Corp. 5.25% 2050 | 229 | 313 |
Otis Worldwide Corp. 2.056% 2025 | 3,750 | 3,915 |
American Funds Corporate Bond Fund — Page 13 of 21
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Industrials (continued) | Principal amount (000) | Value (000) |
Otis Worldwide Corp. 2.293% 2027 | $1,500 | $1,571 |
Otis Worldwide Corp. 2.565% 2030 | 500 | 516 |
Otis Worldwide Corp. 3.362% 2050 | 1,250 | 1,305 |
Raytheon Technologies Corp. 2.80% 2022 | 390 | 399 |
Raytheon Technologies Corp. 2.25% 2030 | 250 | 253 |
Roper Technologies, Inc. 1.00% 2025 | 1,000 | 994 |
Roper Technologies, Inc. 1.40% 2027 | 1,500 | 1,485 |
Roper Technologies, Inc. 1.75% 2031 | 1,500 | 1,438 |
Siemens AG 2.90% 20222 | 450 | 465 |
Union Pacific Corp. 3.15% 2024 | 750 | 805 |
Union Pacific Corp. 2.15% 2027 | 1,000 | 1,052 |
Union Pacific Corp. 3.95% 2028 | 332 | 381 |
Union Pacific Corp. 3.70% 2029 | 1,000 | 1,129 |
Union Pacific Corp. 2.40% 2030 | 470 | 487 |
Union Pacific Corp. 4.30% 2049 | 510 | 611 |
Union Pacific Corp. 3.25% 2050 | 1,851 | 1,915 |
Union Pacific Corp. 3.95% 2059 | 805 | 911 |
United Technologies Corp. 3.65% 2023 | 23 | 25 |
United Technologies Corp. 3.95% 2025 | 1,535 | 1,723 |
United Technologies Corp. 4.125% 2028 | 1,475 | 1,702 |
United Technologies Corp. 4.50% 2042 | 250 | 307 |
133,794 | ||
Communication services 5.19% | ||
Alphabet Inc. 1.10% 2030 | 4,090 | 3,865 |
Alphabet Inc. 2.25% 2060 | 1,700 | 1,441 |
AT&T Inc. 2.30% 2027 | 1,600 | 1,658 |
AT&T Inc. 1.65% 2028 | 3,500 | 3,441 |
AT&T Inc. 2.75% 2031 | 10,038 | 10,197 |
AT&T Inc. 2.25% 2032 | 7,986 | 7,675 |
AT&T Inc. 2.55% 20332 | 3,538 | 3,422 |
AT&T Inc. 3.50% 20532 | 3,332 | 3,062 |
CCO Holdings LLC and CCO Holdings Capital Corp. 4.50% 2024 | 1,500 | 1,652 |
CCO Holdings LLC and CCO Holdings Capital Corp. 5.05% 2029 | 1,000 | 1,174 |
CCO Holdings LLC and CCO Holdings Capital Corp. 2.80% 2031 | 5,239 | 5,312 |
CCO Holdings LLC and CCO Holdings Capital Corp. 2.30% 2032 | 1,800 | 1,726 |
CCO Holdings LLC and CCO Holdings Capital Corp. 5.125% 2049 | 612 | 705 |
CCO Holdings LLC and CCO Holdings Capital Corp. 4.80% 2050 | 420 | 463 |
CCO Holdings LLC and CCO Holdings Capital Corp. 3.70% 2051 | 3,840 | 3,659 |
Comcast Corp. 3.10% 2025 | 2,100 | 2,274 |
Comcast Corp. 3.95% 2025 | 1,500 | 1,690 |
Comcast Corp. 4.15% 2028 | 1,000 | 1,164 |
Comcast Corp. 2.65% 2030 | 1,080 | 1,134 |
Comcast Corp. 1.50% 2031 | 4,800 | 4,546 |
Comcast Corp. 1.95% 2031 | 2,044 | 2,014 |
Comcast Corp. 4.00% 2047 | 200 | 232 |
Comcast Corp. 4.00% 2048 | 290 | 331 |
Comcast Corp. 2.80% 2051 | 3,800 | 3,566 |
Comcast Corp. 2.45% 2052 | 2,000 | 1,751 |
Discovery Communications, Inc. 3.625% 2030 | 301 | 331 |
Discovery Communications, Inc. 4.65% 2050 | 142 | 165 |
NBCUniversal Enterprise, Inc., junior subordinated, 5.25% 20492 | 2,035 | 2,058 |
T-Mobile US, Inc. 1.50% 20262 | 1,200 | 1,198 |
T-Mobile US, Inc. 3.75% 20272 | 1,200 | 1,323 |
American Funds Corporate Bond Fund — Page 14 of 21
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Communication services (continued) | Principal amount (000) | Value (000) |
T-Mobile US, Inc. 2.05% 20282 | $2,450 | $2,430 |
T-Mobile US, Inc. 2.55% 20312 | 3,430 | 3,415 |
T-Mobile US, Inc. 3.00% 20412 | 423 | 397 |
T-Mobile US, Inc. 3.30% 20512 | 3,869 | 3,589 |
Verizon Communications Inc. 0.85% 2025 | 1,700 | 1,676 |
Verizon Communications Inc. 3.00% 2027 | 1,975 | 2,145 |
Verizon Communications Inc. 4.329% 2028 | 4,984 | 5,804 |
Verizon Communications Inc. 3.875% 2029 | 175 | 200 |
Verizon Communications Inc. 4.016% 2029 | 1,002 | 1,149 |
Verizon Communications Inc. 1.68% 20302 | 893 | 851 |
Verizon Communications Inc. 1.75% 2031 | 2,675 | 2,552 |
Verizon Communications Inc. 3.85% 2042 | 206 | 227 |
Verizon Communications Inc. 2.875% 2050 | 3,933 | 3,581 |
Vodafone Group PLC 4.25% 2050 | 2,450 | 2,755 |
Walt Disney Company 2.65% 2031 | 5,556 | 5,828 |
Walt Disney Company 3.60% 2051 | 350 | 382 |
110,210 | ||
Materials 2.33% | ||
Air Products and Chemicals, Inc. 1.50% 2025 | 477 | 488 |
Air Products and Chemicals, Inc. 1.85% 2027 | 60 | 62 |
Air Products and Chemicals, Inc. 2.05% 2030 | 343 | 349 |
Air Products and Chemicals, Inc. 2.80% 2050 | 91 | 89 |
Anglo American Capital PLC 5.625% 20302 | 1,910 | 2,370 |
Anglo American Capital PLC 3.95% 20502 | 1,024 | 1,111 |
Dow Chemical Co. 4.55% 2025 | 200 | 230 |
Dow Chemical Co. 3.625% 2026 | 1,298 | 1,443 |
Dow Chemical Co. 4.80% 2028 | 500 | 599 |
Dow Chemical Co. 2.10% 2030 | 4,250 | 4,198 |
Dow Chemical Co. 4.625% 2044 | 600 | 731 |
Dow Chemical Co. 5.55% 2048 | 290 | 397 |
Dow Chemical Co. 4.80% 2049 | 653 | 819 |
Dow Chemical Co. 3.60% 2050 | 2,037 | 2,108 |
Ecolab Inc. 2.125% 2050 | 1,000 | 851 |
Glencore Funding LLC 4.125% 20242 | 500 | 545 |
LYB International Finance BV 4.875% 2044 | 100 | 120 |
LYB International Finance III, LLC 1.25% 2025 | 717 | 717 |
LYB International Finance III, LLC 2.25% 2030 | 3,143 | 3,130 |
LYB International Finance III, LLC 3.375% 2040 | 368 | 376 |
LYB International Finance III, LLC 4.20% 2049 | 249 | 275 |
LYB International Finance III, LLC 4.20% 2050 | 250 | 275 |
LYB International Finance III, LLC 3.625% 2051 | 680 | 690 |
Newcrest Finance Pty Ltd. 3.25% 20302 | 1,492 | 1,613 |
Newcrest Finance Pty Ltd. 4.20% 20502 | 572 | 664 |
Nutrien Ltd. 1.90% 2023 | 111 | 115 |
Nutrien Ltd. 4.20% 2029 | 250 | 290 |
Nutrien Ltd. 2.95% 2030 | 500 | 534 |
Nutrien Ltd. 5.00% 2049 | 300 | 389 |
Nutrien Ltd. 3.95% 2050 | 750 | 850 |
Nutrition & Biosciences, Inc. 1.23% 20252 | 1,000 | 996 |
Nutrition & Biosciences, Inc. 1.832% 20272 | 3,048 | 3,064 |
Nutrition & Biosciences, Inc. 2.30% 20302 | 5,930 | 5,957 |
Nutrition & Biosciences, Inc. 3.268% 20402 | 500 | 516 |
Nutrition & Biosciences, Inc. 3.468% 20502 | 1,000 | 1,023 |
American Funds Corporate Bond Fund — Page 15 of 21
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Materials (continued) | Principal amount (000) | Value (000) |
Praxair, Inc. 1.10% 2030 | $3,842 | $3,587 |
Praxair, Inc. 2.00% 2050 | 1,548 | 1,279 |
Sherwin-Williams Company 2.75% 2022 | 22 | 23 |
Sherwin-Williams Company 3.125% 2024 | 700 | 754 |
Sherwin-Williams Company 3.45% 2027 | 400 | 441 |
Sherwin-Williams Company 2.30% 2030 | 691 | 702 |
Sherwin-Williams Company 3.80% 2049 | 300 | 333 |
Sherwin-Williams Company 3.30% 2050 | 1,050 | 1,072 |
Vale Overseas Ltd. 3.75% 2030 | 2,673 | 2,844 |
Westlake Chemical Corp. 5.00% 2046 | 130 | 159 |
Westlake Chemical Corp. 4.375% 2047 | 160 | 182 |
49,360 | ||
Real estate 1.63% | ||
Alexandria Real Estate Equities, Inc. 3.80% 2026 | 105 | 118 |
Alexandria Real Estate Equities, Inc. 3.95% 2028 | 35 | 40 |
Alexandria Real Estate Equities, Inc. 2.75% 2029 | 184 | 194 |
Alexandria Real Estate Equities, Inc. 3.375% 2031 | 217 | 239 |
Alexandria Real Estate Equities, Inc. 1.875% 2033 | 938 | 886 |
American Campus Communities, Inc. 3.75% 2023 | 300 | 319 |
American Campus Communities, Inc. 4.125% 2024 | 15 | 16 |
American Campus Communities, Inc. 3.30% 2026 | 1,686 | 1,844 |
American Campus Communities, Inc. 3.625% 2027 | 240 | 267 |
American Campus Communities, Inc. 2.85% 2030 | 86 | 89 |
American Campus Communities, Inc. 3.875% 2031 | 284 | 315 |
Corporate Office Properties LP 2.25% 2026 | 2,233 | 2,293 |
Equinix, Inc. 2.625% 2024 | 4,170 | 4,425 |
Equinix, Inc. 1.25% 2025 | 3,123 | 3,122 |
Equinix, Inc. 2.90% 2026 | 2,033 | 2,185 |
Equinix, Inc. 1.80% 2027 | 470 | 473 |
Equinix, Inc. 1.55% 2028 | 4,200 | 4,126 |
Equinix, Inc. 3.20% 2029 | 3,945 | 4,197 |
Equinix, Inc. 2.15% 2030 | 5,288 | 5,183 |
Equinix, Inc. 3.00% 2050 | 1,395 | 1,288 |
Equinix, Inc. 2.95% 2051 | 100 | 91 |
Essex Portfolio LP 3.50% 2025 | 70 | 76 |
Essex Portfolio LP 3.375% 2026 | 200 | 220 |
Essex Portfolio LP 4.00% 2029 | 180 | 204 |
Gaming and Leisure Properties, Inc. 3.35% 2024 | 145 | 154 |
Gaming and Leisure Properties, Inc. 4.00% 2030 | 289 | 308 |
Public Storage 0.875% 2026 | 1,419 | 1,404 |
Scentre Group 2.375% 20212 | 130 | 130 |
Scentre Group 3.50% 20252 | 50 | 54 |
Westfield Corp. Ltd. 3.50% 20292 | 312 | 319 |
34,579 | ||
Total corporate bonds, notes & loans | 1,882,219 | |
U.S. Treasury bonds & notes 7.56% U.S. Treasury 7.56% | ||
U.S. Treasury 0.125% 2022 | 243 | 243 |
U.S. Treasury 0.125% 2023 | 613 | 611 |
U.S. Treasury 1.50% 2024 | 74 | 77 |
U.S. Treasury 0.25% 2025 | 3,069 | 3,016 |
American Funds Corporate Bond Fund — Page 16 of 21
unaudited
Bonds, notes & other debt instruments (continued) U.S. Treasury bonds & notes (continued) U.S. Treasury (continued) | Principal amount (000) | Value (000) |
U.S. Treasury 0.375% 2025 | $4,772 | $4,701 |
U.S. Treasury 0.375% 2025 | 3,581 | 3,532 |
U.S. Treasury 0.50% 2026 | —4 | —4 |
U.S. Treasury 0.50% 2027 | 6,466 | 6,249 |
U.S. Treasury 0.625% 20275 | 3,933 | 3,859 |
U.S. Treasury 0.625% 2027 | 556 | 539 |
U.S. Treasury 2.375% 2029 | 84 | 91 |
U.S. Treasury 1.125% 2031 | 9,985 | 9,737 |
U.S. Treasury 2.375% 20495 | 19,034 | 20,147 |
U.S. Treasury 1.625% 2050 | 120,214 | 107,070 |
U.S. Treasury 2.00% 2050 | 650 | 634 |
Total U.S. Treasury bonds & notes | 160,506 | |
Asset-backed obligations 0.27% | ||
CF Hippolyta LLC, Series 2020-1, Class A1, 1.69% 20602,6 | 4,495 | 4,539 |
CF Hippolyta LLC, Series 2020-1, Class A2, 1.99% 20602,6 | 313 | 311 |
Global SC Finance V SRL, Series 2019-1A, Class B, 4.81% 20392,6 | 951 | 949 |
5,799 | ||
Municipals 0.13% California 0.08% | ||
Regents of the University of California, General Rev. Bonds, Series 2020-BG, 1.316% 2027 | 965 | 959 |
Regents of the University of California, General Rev. Bonds, Series 2020-BG, 1.614% 2030 | 750 | 732 |
1,691 | ||
South Carolina 0.05% | ||
Public Service Auth., Rev. Obligations (Santee Cooper), Series 2015-E, 5.25% 2055 | 400 | 468 |
Public Service Auth., Rev. Obligations (Santee Cooper), Series 2016-B, 5.00% 2036 | 100 | 121 |
Public Service Auth., Rev. Ref. Obligations (Santee Cooper), Series 2016-C, 5.00% 2035 | 460 | 557 |
1,146 | ||
Total municipals | 2,837 | |
Bonds & notes of governments & government agencies outside the U.S. 0.11% | ||
Panama (Republic of) 2.252% 2032 | 1,710 | 1,637 |
United Mexican States 3.75% 2071 | 685 | 593 |
2,230 | ||
Total bonds, notes & other debt instruments (cost: $2,028,769,000) | 2,053,591 | |
Short-term securities 5.46% Money market investments 5.46% | Shares | |
Capital Group Central Cash Fund 0.09%7,8 | 1,159,434 | 115,955 |
Total short-term securities (cost: $115,955,000) | 115,955 | |
Total investment securities 102.19% (cost: $2,144,724,000) | 2,169,546 | |
Other assets less liabilities (2.19)% | (46,502) | |
Net assets 100.00% | $2,123,044 |
American Funds Corporate Bond Fund — Page 17 of 21
unaudited
Futures contracts
Contracts | Type | Number of contracts | Expiration | Notional amount9 (000) | Value at 2/28/202110 (000) | Unrealized (depreciation) appreciation at 2/28/2021 (000) |
2 Year U.S. Treasury Note Futures | Long | 331 | July 2021 | $66,200 | $73,074 | $(15) |
5 Year U.S. Treasury Note Futures | Short | 234 | July 2021 | (23,400) | (29,009) | 69 |
10 Year U.S. Treasury Note Futures | Short | 126 | June 2021 | (12,600) | (16,722) | 82 |
10 Year Ultra U.S. Treasury Note Futures | Short | 1,689 | June 2021 | (168,900) | (248,864) | 2,015 |
20 Year U.S. Treasury Bond Futures | Long | 1,156 | June 2021 | 115,600 | 184,057 | (1,950) |
30 Year Ultra U.S. Treasury Bond Futures | Long | 21 | June 2021 | 2,100 | 3,970 | 10 |
$211 |
Investments in affiliates8
Value of affiliate at 6/1/2020 (000) | Additions (000) | Reductions (000) | Net realized loss (000) | Net unrealized appreciation (000) | Value of affiliate at 2/28/2021 (000) | Dividend income (000) | |
Short-term securities 5.46% | |||||||
Money market investments 5.46% | |||||||
Capital Group Central Cash Fund 0.09%7 | $92,162 | $915,795 | $892,002 | $(5) | $5 | $115,955 | $131 |
1 | Step bond; coupon rate may change at a later date. |
2 | 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 $255,281,000, which represented 12.02% of the net assets of the fund. |
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 | Amount less than one thousand. |
5 | All or a portion of this security was pledged as collateral. The total value of pledged collateral was $2,210,000, which represented .10% of the net assets of the fund. |
6 | Principal payments may be made periodically. Therefore, the effective maturity date may be earlier than the stated maturity date. |
7 | Rate represents the seven-day yield at 2/28/2021. |
8 | Part of the same group of investment companies as the fund as defined under the Investment Company Act of 1940. |
9 | Notional amount is calculated based on the number of contracts and notional contract size. |
10 | Value is calculated based on the notional amount and current market price. |
Valuation disclosures
Capital Research and Management Company (“CRMC”), the fund’s investment adviser, values the fund’s investments at fair value as defined by accounting principles generally accepted in the United States of America. 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. Security transactions are recorded by the fund as of the date the trades are executed with brokers.
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.
American Funds Corporate Bond Fund — Page 18 of 21
unaudited
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. 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. The average month-end notional amount of futures contracts while held was $304,892,000.
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.
American Funds Corporate Bond Fund — Page 19 of 21
unaudited
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 February 28, 2021 (dollars in thousands):
Investment securities | ||||
Level 1 | Level 2 | Level 3 | Total | |
Assets: | ||||
Bonds, notes & other debt instruments: | ||||
Corporate bonds, notes & loans | $— | $1,882,219 | $— | $1,882,219 |
U.S. Treasury bonds & notes | — | 160,506 | — | 160,506 |
Asset-backed obligations | — | 5,799 | — | 5,799 |
Municipals | — | 2,837 | — | 2,837 |
Bonds & notes of governments & government agencies outside the U.S. | — | 2,230 | — | 2,230 |
Short-term securities | 115,955 | — | — | 115,955 |
Total | $115,955 | $2,053,591 | $— | $2,169,546 |
Other investments* | ||||
Level 1 | Level 2 | Level 3 | Total | |
Assets: | ||||
Unrealized appreciation on futures contracts | $2,176 | $— | $— | $2,176 |
Liabilities: | ||||
Unrealized depreciation on futures contracts | (1,965) | — | — | (1,965) |
Total | $211 | $— | $— | $211 |
* | Futures contracts are not included in the investment portfolio. |
Key to abbreviations and symbol |
Auth. = Authority |
ICE = Intercontinental Exchange, Inc. |
LIBOR = London Interbank Offered Rate |
Ref. = Refunding |
Rev. = Revenue |
SOFR = Secured Overnight Financing Rate |
USD/$ = U.S. dollars |
American Funds Corporate Bond Fund — Page 20 of 21
unaudited
Investments are not FDIC-insured, nor are they deposits of or guaranteed by a bank or any other entity, so they may lose value.
Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the fund prospectus and summary prospectus, which can be obtained from your financial professional and should be read carefully before investing. You may also call American Funds Service Company (AFS) at (800) 421-4225 or visit the Capital Group website at capitalgroup.com.
All Capital Group trademarks mentioned are owned by The Capital Group Companies, Inc., an affiliated company or fund. All other company and product names mentioned are the property of their respective companies.
American Funds Distributors, Inc., member FINRA.
© 2021 Capital Group. All rights reserved.
MFGEFP3-032-0421O-S78106 | American Funds Corporate Bond Fund — Page 21 of 21 |