American Funds Multi-Sector Income FundSM
Investment portfolio
March 31, 2022
unaudited
Bonds, notes & other debt instruments 94.73% Corporate bonds, notes & loans 65.68% Consumer discretionary 10.24% | Principal amount (000) | Value (000) | |
Affinity Gaming 6.875% 20271 | $1,600 | $1,559 | |
Alibaba Group Holding, Ltd. 2.125% 2031 | 1,900 | 1,655 | |
Allied Universal Holdco LLC 6.625% 20261 | 900 | 912 | |
Allied Universal Holdco LLC 9.75% 20271 | 1,680 | 1,738 | |
Allied Universal Holdco LLC 4.625% 20281 | 5,300 | 5,015 | |
Allied Universal Holdco LLC 6.00% 20291 | 4,410 | 3,896 | |
Amazon.com, Inc. 1.65% 2028 | 4,330 | 4,033 | |
Amazon.com, Inc. 2.70% 2060 | 55 | 46 | |
Asbury Automotive Group, Inc. 4.625% 20291 | 1,685 | 1,571 | |
Asbury Automotive Group, Inc. 5.00% 20321 | 785 | 731 | |
Atlas LuxCo 4 SARL 4.625% 20281 | 3,020 | 2,827 | |
AutoNation, Inc. 3.85% 2032 | 8,000 | 7,756 | |
Bayerische Motoren Werke AG 3.45% 20271 | 2,075 | 2,092 | |
Bayerische Motoren Werke AG 3.70% 20321 | 1,100 | 1,113 | |
Boyd Gaming Corp. 8.625% 20251 | 250 | 263 | |
Boyd Gaming Corp. 4.75% 2027 | 3,440 | 3,427 | |
Boyd Gaming Corp. 4.75% 20311 | 930 | 898 | |
Boyne USA, Inc. 4.75% 20291 | 2,930 | 2,817 | |
Caesars Entertainment, Inc. 6.25% 20251 | 655 | 677 | |
Caesars Entertainment, Inc. 4.625% 20291 | 2,500 | 2,341 | |
Caesars Resort Collection, LLC 5.75% 20251 | 690 | 705 | |
Carnival Corp. 7.625% 20261 | 1,000 | 1,008 | |
Carnival Corp. 5.75% 20271 | 4,500 | 4,297 | |
Carnival Corp. 4.00% 20281 | 3,500 | 3,260 | |
Carnival Corp. 6.00% 20291 | 3,000 | 2,831 | |
Carvana Co. 5.50% 20271 | 9,180 | 8,206 | |
Carvana Co. 5.875% 20281 | 5,220 | 4,655 | |
CDI Escrow Issuer, Inc. 5.75% 20301 | 3,685 | 3,726 | |
CEC Entertainment, Inc. 6.75% 20261 | 4,630 | 4,484 | |
Cedar Fair LP / Canadas Wonderland Co. / Magnum Management Corp. / Millennium Operations, LLC 5.50% 20251 | 115 | 118 | |
Clarios Global LP 6.75% 20251 | 180 | 187 | |
Daimler Trucks Finance North America, LLC 2.00% 20261 | 890 | 830 | |
Daimler Trucks Finance North America, LLC 2.375% 20281 | 1,700 | 1,549 | |
Daimler Trucks Finance North America, LLC 2.50% 20311 | 4,750 | 4,162 | |
DaimlerChrysler North America Holding Corp. 1.45% 20261 | 3,610 | 3,364 | |
Empire Resorts, Inc. 7.75% 20261 | 10,370 | 10,123 | |
Fertitta Entertainment, Inc. 4.625% 20291 | 3,000 | 2,849 | |
Fertitta Entertainment, Inc. 6.75% 20301 | 10,000 | 9,212 | |
First Student Bidco, Inc. / First Transit Parent, Inc. 4.00% 20291 | 3,130 | 2,923 | |
Ford Motor Co. 3.25% 2032 | 1,325 | 1,186 | |
Ford Motor Co. 5.291% 2046 | 270 | 263 | |
Ford Motor Credit Company LLC 4.063% 2024 | 2,500 | 2,496 | |
Ford Motor Credit Company LLC 5.125% 2025 | 5,305 | 5,418 | |
Ford Motor Credit Company LLC 2.70% 2026 | 4,200 | 3,911 |
American Funds Multi-Sector Income Fund — Page 1 of 39
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Consumer discretionary (continued) | Principal amount (000) | Value (000) | |
Ford Motor Credit Company LLC 4.125% 2027 | $3,680 | $3,602 | |
Ford Motor Credit Company LLC 4.95% 2027 | 7,875 | 8,017 | |
Ford Motor Credit Company LLC 5.113% 2029 | 1,370 | 1,381 | |
Ford Motor Credit Company LLC 4.00% 2030 | 1,720 | 1,622 | |
Ford Motor Credit Company LLC 3.625% 2031 | 2,680 | 2,425 | |
Grand Canyon University 4.375% 2026 | 6,750 | 6,834 | |
Grupo Axo, SAPI de CV 5.75% 20261 | 3,750 | 3,539 | |
Hanesbrands, Inc. 4.625% 20241 | 2,000 | 2,033 | |
Hanesbrands, Inc. 4.875% 20261 | 3,005 | 3,028 | |
Hilton Worldwide Holdings, Inc. 5.75% 20281 | 290 | 300 | |
Hilton Worldwide Holdings, Inc. 4.875% 2030 | 1,020 | 1,020 | |
Hilton Worldwide Holdings, Inc. 4.00% 20311 | 3,290 | 3,112 | |
Home Depot, Inc. 2.70% 2030 | 50 | 49 | |
Home Depot, Inc. 3.35% 2050 | 130 | 123 | |
Hyundai Capital America 1.50% 20261 | 2,643 | 2,406 | |
Hyundai Capital America 2.00% 20281 | 750 | 666 | |
Hyundai Capital America 2.10% 20281 | 675 | 596 | |
International Game Technology PLC 5.25% 20291 | 11,300 | 11,284 | |
LCM Investments Holdings II, LLC 4.875% 20291 | 268 | 253 | |
Levi Strauss & Co. 3.50% 20311 | 1,075 | 987 | |
Limited Brands, Inc. 6.625% 20301 | 1,565 | 1,645 | |
Limited Brands, Inc. 6.875% 2035 | 1,862 | 1,921 | |
Limited Brands, Inc. 6.75% 2036 | 380 | 388 | |
Lithia Motors, Inc. 4.375% 20311 | 250 | 242 | |
Lowe’s Companies, Inc. 3.75% 2032 | 6,035 | 6,107 | |
Lowe’s Companies, Inc. 4.25% 2052 | 1,137 | 1,178 | |
Macy’s Retail Holdings, LLC 5.875% 20301 | 675 | 667 | |
Marriott International, Inc. 2.85% 2031 | 315 | 288 | |
Marriott International, Inc. 2.75% 2033 | 1,846 | 1,633 | |
Marriott Ownership Resorts, Inc. 4.50% 20291 | 5,025 | 4,745 | |
Meituan Dianping 3.05% 2030 | 2,000 | 1,608 | |
Meituan Dianping 3.05% 20301 | 1,400 | 1,125 | |
Melco International Development, Ltd. 5.375% 20291 | 3,035 | 2,587 | |
MercadoLibre, Inc. 2.375% 2026 | 300 | 280 | |
MercadoLibre, Inc. 3.125% 2031 | 625 | 546 | |
Merlin Entertainment 5.75% 20261 | 200 | 198 | |
MGM Growth Properties LLC 4.625% 20251 | 325 | 328 | |
MGM Growth Properties LLC 3.875% 20291 | 3,880 | 3,819 | |
MGM Resorts International 6.00% 2023 | 75 | 77 | |
MGM Resorts International 5.50% 2027 | 53 | 54 | |
Mohegan Gaming & Entertainment 8.00% 20261 | 6,460 | 6,427 | |
Motel 6 Operating LP, Term Loan B, (1-month USD-LIBOR + 5.00%) 5.75% 20262,3 | 2,144 | 2,125 | |
NCL Corp., Ltd. 5.875% 20261 | 1,250 | 1,189 | |
NCL Corp., Ltd. 5.875% 20271 | 2,280 | 2,249 | |
NCL Corp., Ltd. 7.75% 20291 | 2,925 | 2,949 | |
NCL Finance, Ltd. 6.125% 20281 | 2,500 | 2,323 | |
Newell Brands, Inc. 5.875% 20364 | 1,885 | 1,941 | |
Newell Rubbermaid, Inc. 4.875% 2025 | 200 | 207 | |
Newell Rubbermaid, Inc. 4.70% 2026 | 180 | 181 | |
Panther BF Aggregator 2, LP 6.25% 20261 | 36 | 37 | |
Panther BF Aggregator 2, LP 8.50% 20271 | 180 | 187 | |
Party City Holdings, Inc. 6.125% 20231 | 50 | 45 | |
Party City Holdings, Inc. 8.75% 20261 | 15,165 | 14,483 | |
PECF USS Intermediate Holding III Corp. 8.00% 20291 | 3,130 | 3,027 |
American Funds Multi-Sector Income Fund — Page 2 of 39
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Consumer discretionary (continued) | Principal amount (000) | Value (000) | |
Premier Entertainment Sub LLC 5.625% 20291 | $6,000 | $5,169 | |
Premier Entertainment Sub LLC 5.875% 20311 | 6,000 | 5,133 | |
Real Hero Merger Sub 2, Inc. 6.25% 20291 | 2,225 | 2,032 | |
Royal Caribbean Cruises, Ltd. 10.875% 20231 | 810 | 863 | |
Royal Caribbean Cruises, Ltd. 4.25% 20261 | 7,600 | 7,083 | |
Royal Caribbean Cruises, Ltd. 5.50% 20281 | 6,800 | 6,492 | |
Sally Holdings LLC and Sally Capital, Inc. 5.625% 2025 | 100 | 101 | |
Sands China, Ltd. 4.375% 2030 | 2,200 | 1,998 | |
Scientific Games Corp. 8.625% 20251 | 710 | 748 | |
Scientific Games Corp. 8.25% 20261 | 50 | 52 | |
Scientific Games Corp. 7.00% 20281 | 1,910 | 1,983 | |
Scientific Games Corp. 7.25% 20291 | 1,125 | 1,181 | |
Scientific Games Holdings LP 6.625% 20301 | 8,755 | 8,641 | |
Six Flags Theme Parks, Inc. 7.00% 20251 | 315 | 329 | |
Sonic Automotive, Inc. 4.625% 20291 | 5,840 | 5,263 | |
Sonic Automotive, Inc. 4.875% 20311 | 6,305 | 5,607 | |
Stellantis Finance US, Inc. 1.711% 20271 | 4,325 | 3,949 | |
Stellantis Finance US, Inc. 2.691% 20311 | 5,095 | 4,481 | |
Studio City Co., Ltd. 7.00% 20271 | 6,705 | 6,558 | |
The Gap, Inc. 3.625% 20291 | 1,800 | 1,607 | |
The Gap, Inc. 3.875% 20311 | 1,199 | 1,047 | |
Toyota Motor Credit Corp. 1.35% 2023 | 150 | 148 | |
Toyota Motor Credit Corp. 1.90% 2027 | 750 | 714 | |
Toyota Motor Credit Corp. 1.90% 2028 | 2,130 | 1,981 | |
Toyota Motor Credit Corp. 3.375% 2030 | 57 | 57 | |
Universal Entertainment Corp. 8.50% 20241 | 3,580 | 3,675 | |
Vail Resorts, Inc. 6.25% 20251 | 110 | 114 | |
VICI Properties LP / VICI Note Co., Inc. 4.125% 20301 | 215 | 208 | |
Viking Cruises, Ltd. 13.00% 20251 | 145 | 161 | |
Volkswagen Group of America Finance, LLC 3.125% 20231 | 248 | 250 | |
WASH Multifamily Acquisition, Inc. 5.75% 20261 | 3,095 | 3,108 | |
Wheel Pros, Inc. 6.50% 20291 | 6,750 | 5,928 | |
Wyndham Worldwide Corp. 4.375% 20281 | 1,125 | 1,084 | |
Wynn Las Vegas, LLC and Wynn Capital Corp. 4.25% 20231 | 60 | 60 | |
Wynn Macau, Ltd. 5.625% 20281 | 925 | 805 | |
Wynn Resorts, Ltd. 7.75% 20251 | 1,780 | 1,850 | |
Wynn Resorts, Ltd. 5.125% 20291 | 5,910 | 5,573 | |
343,246 | |||
Energy 9.68% | |||
AI Candelaria (Spain), SLU 5.75% 20331 | 2,135 | 1,837 | |
Antero Resources Corp. 5.375% 20301 | 1,060 | 1,084 | |
Apache Corp. 4.625% 2025 | 985 | 1,029 | |
Apache Corp. 4.25% 2030 | 4,000 | 4,040 | |
Apache Corp. 6.00% 2037 | 55 | 62 | |
Apache Corp. 4.75% 2043 | 1,645 | 1,558 | |
Apache Corp. 5.35% 2049 | 50 | 48 | |
Ascent Resources - Utica LLC 7.00% 20261 | 1,280 | 1,315 | |
Ascent Resources - Utica LLC 8.25% 20281 | 1,492 | 1,569 | |
Ascent Resources - Utica LLC 5.875% 20291 | 995 | 985 | |
Baker Hughes Co. 2.061% 2026 | 2,698 | 2,573 | |
Blue Racer Midstream LLC and Blue Racer Finance Corp. 7.625% 20251 | 1,768 | 1,852 | |
Bonanza Creek Energy, Inc. 5.00% 20261 | 3,755 | 3,727 | |
BP Capital Markets America, Inc. 2.721% 2032 | 6,000 | 5,654 |
American Funds Multi-Sector Income Fund — Page 3 of 39
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Energy (continued) | Principal amount (000) | Value (000) | |
California Resources Corp. 7.125% 20261 | $2,240 | $2,334 | |
Callon Petroleum Co. 8.00% 20281 | 4,300 | 4,540 | |
Canadian Natural Resources, Ltd. 3.85% 2027 | 70 | 71 | |
Canadian Natural Resources, Ltd. 2.95% 2030 | 658 | 627 | |
Canadian Natural Resources, Ltd. 4.95% 2047 | 65 | 72 | |
Cenovus Energy, Inc. 5.375% 2025 | 172 | 182 | |
Centennial Resource Production, LLC 6.875% 20271 | 30 | 30 | |
Cheniere Energy Partners LP 4.50% 2029 | 2,107 | 2,120 | |
Cheniere Energy Partners LP 4.00% 2031 | 2,070 | 2,010 | |
Cheniere Energy Partners LP 3.25% 20321 | 1,585 | 1,444 | |
Cheniere Energy, Inc. 4.625% 2028 | 3,955 | 3,973 | |
Chesapeake Energy Corp. 5.50% 20261 | 880 | 902 | |
Chesapeake Energy Corp. 5.875% 20291 | 5,005 | 5,175 | |
Chesapeake Energy Corp. 6.75% 20291 | 1,280 | 1,358 | |
Chevron Corp. 2.236% 2030 | 35 | 33 | |
Chevron Corp. 3.078% 2050 | 214 | 203 | |
CNX Resources Corp. 7.25% 20271 | 1,625 | 1,722 | |
CNX Resources Corp. 6.00% 20291 | 610 | 617 | |
Comstock Resources, Inc. 6.75% 20291 | 1,540 | 1,591 | |
Comstock Resources, Inc. 5.875% 20301 | 2,475 | 2,442 | |
ConocoPhillips 3.80% 2052 | 12,000 | 12,240 | |
Continental Resources, Inc. 5.75% 20311 | 1,600 | 1,753 | |
Continental Resources, Inc. 2.875% 20321 | 3,734 | 3,336 | |
CQP Holdco LP / BIP-V Chinook Holdco LLC 5.50% 20311 | 4,160 | 4,092 | |
CrownRock LP / CrownRock Finance, Inc. 5.00% 20291 | 6,750 | 6,764 | |
Diamond Foreign Asset Co. / Diamond Finance, LLC 9.00% Cash 20271,3,5 | 1 | 1 | |
Diamond Foreign Asset Co. / Diamond Finance, LLC 9.00% Cash 20273,5 | —6 | 1 | |
Diamondback Energy, Inc. 4.40% 2051 | 233 | 237 | |
Diamondback Energy, Inc. 4.25% 2052 | 3,524 | 3,492 | |
DT Midstream, Inc. 4.125% 20291 | 1,755 | 1,685 | |
Ecopetrol SA 6.875% 2030 | 2,000 | 2,102 | |
Enbridge Energy Partners LP 7.375% 2045 | 14 | 20 | |
Enbridge, Inc. 3.40% 2051 | 718 | 639 | |
Endeavor Energy Resources LP 6.625% 20251 | 785 | 816 | |
Energean Israel Finance, Ltd. 4.50% 20241 | 805 | 798 | |
Energean Israel Finance, Ltd. 5.875% 20311 | 930 | 890 | |
Energy Transfer Operating LP 3.75% 2030 | 2,750 | 2,709 | |
Energy Transfer Operating LP 5.00% 2050 | 4,238 | 4,305 | |
Energy Transfer Partners LP 6.125% 2045 | 20 | 22 | |
Energy Transfer Partners LP 5.30% 2047 | 121 | 125 | |
Energy Transfer Partners LP 6.00% 2048 | 260 | 289 | |
Energy Transfer Partners LP 6.25% 2049 | 200 | 230 | |
Energy Transfer Partners LP 6.50% junior subordinated perpetual bonds (5-year UST Yield Curve Rate T Note Constant Maturity + 5.694% on 11/15/2026)4 | 1,107 | 1,091 | |
Enterprise Products Operating LLC 3.20% 2052 | 360 | 305 | |
EQM Midstream Partners LP 4.00% 2024 | 2,500 | 2,477 | |
EQM Midstream Partners LP 6.00% 20251 | 2,050 | 2,094 | |
EQM Midstream Partners LP 6.50% 20271 | 2,330 | 2,437 | |
EQM Midstream Partners LP 4.50% 20291 | 2,695 | 2,525 | |
EQM Midstream Partners LP 4.75% 20311 | 5,600 | 5,244 | |
EQT Corp. 6.625% 20254 | 80 | 85 | |
EQT Corp. 5.00% 2029 | 1,130 | 1,168 | |
EQT Corp. 3.625% 20311 | 3,525 | 3,372 | |
Exxon Mobil Corp. 2.61% 2030 | 900 | 869 |
American Funds Multi-Sector Income Fund — Page 4 of 39
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Energy (continued) | Principal amount (000) | Value (000) | |
Exxon Mobil Corp. 3.452% 2051 | $770 | $750 | |
Genesis Energy, LP 8.00% 2027 | 7,782 | 8,014 | |
Guara Norte SARL 5.198% 20341 | 2,637 | 2,423 | |
Harvest Midstream I, LP 7.50% 20281 | 7,650 | 7,825 | |
Hilcorp Energy I, LP 5.75% 20291 | 1,665 | 1,669 | |
Hilcorp Energy I, LP 6.00% 20311 | 1,130 | 1,137 | |
Kinder Morgan, Inc. 5.20% 2048 | 15 | 16 | |
Kinder Morgan, Inc. 3.25% 2050 | 669 | 557 | |
Leviathan Bond, Ltd. 6.75% 20301 | 520 | 537 | |
Magellan Midstream Partners LP 3.95% 2050 | 1,000 | 949 | |
Magnolia Oil & Gas Operating LLC 6.00% 20261 | 400 | 408 | |
MPLX LP 1.75% 2026 | 280 | 263 | |
MPLX LP 2.65% 2030 | 928 | 852 | |
MPLX LP 5.50% 2049 | 982 | 1,091 | |
Murphy Oil Corp. 5.875% 2027 | 4,000 | 4,077 | |
MV24 Capital BV 6.748% 2034 | 6,439 | 6,273 | |
Nabors Industries, Inc. 7.375% 20271 | 1,520 | 1,581 | |
New Fortress Energy, Inc. 6.75% 20251 | 640 | 645 | |
New Fortress Energy, Inc. 6.50% 20261 | 12,335 | 12,236 | |
NGL Energy Operating LLC 7.50% 20261 | 16,770 | 16,518 | |
NGL Energy Partners LP 7.50% 2023 | 369 | 354 | |
Northern Oil and Gas, Inc. 8.125% 20281 | 4,690 | 4,894 | |
NorthRiver Midstream Finance LP 5.625% 20261 | 1,250 | 1,247 | |
NuStar Logistics LP 5.75% 2025 | 700 | 714 | |
NuStar Logistics LP 6.00% 2026 | 225 | 228 | |
Oasis Midstream Partners LP / OMP Finance Corp. 8.00% 20291 | 4,090 | 4,371 | |
Occidental Petroleum Corp. 2.90% 2024 | 210 | 209 | |
Occidental Petroleum Corp. 5.875% 2025 | 4,927 | 5,241 | |
Occidental Petroleum Corp. 8.00% 2025 | 380 | 427 | |
Occidental Petroleum Corp. 3.50% 2029 | 3,460 | 3,414 | |
Occidental Petroleum Corp. 6.625% 2030 | 4,438 | 5,098 | |
Occidental Petroleum Corp. 8.875% 2030 | 2,970 | 3,813 | |
Occidental Petroleum Corp. 6.125% 2031 | 2,360 | 2,659 | |
Occidental Petroleum Corp. 4.40% 2049 | 1,972 | 1,858 | |
Odebrecht Drilling Norbe 6.72% PIK and 1.00% Cash 20265 | 13,896 | 3,143 | |
Oleoducto Central SA 4.00% 20271 | 2,300 | 2,171 | |
ONEOK, Inc. 5.85% 2026 | 190 | 204 | |
ONEOK, Inc. 3.10% 2030 | 63 | 59 | |
ONEOK, Inc. 6.35% 2031 | 715 | 828 | |
ONEOK, Inc. 4.95% 2047 | 700 | 708 | |
ONEOK, Inc. 5.20% 2048 | 603 | 644 | |
ONEOK, Inc. 4.45% 2049 | 1,850 | 1,781 | |
ONEOK, Inc. 4.50% 2050 | 2,711 | 2,609 | |
ONEOK, Inc. 7.15% 2051 | 36 | 46 | |
Petrobras Global Finance Co. 8.75% 2026 | 1,500 | 1,748 | |
Petrobras Global Finance Co. 5.60% 2031 | 1,700 | 1,724 | |
Petrobras Global Finance Co. 6.75% 2050 | 1,700 | 1,673 | |
Petróleos Mexicanos 6.875% 2025 | 1,650 | 1,732 | |
Petróleos Mexicanos 4.50% 2026 | 3,220 | 3,155 | |
Petróleos Mexicanos 6.875% 2026 | 120 | 126 | |
Petróleos Mexicanos 6.49% 2027 | 2,240 | 2,271 | |
Petróleos Mexicanos 6.50% 2029 | 286 | 284 | |
Petróleos Mexicanos 6.84% 2030 | 200 | 199 | |
Petróleos Mexicanos 5.95% 2031 | 2,280 | 2,108 |
American Funds Multi-Sector Income Fund — Page 5 of 39
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Energy (continued) | Principal amount (000) | Value (000) | |
Petróleos Mexicanos 6.70% 2032 | $7,367 | $7,006 | |
Petróleos Mexicanos 6.95% 2060 | 1,400 | 1,138 | |
Petrorio Luxembourg SARL 6.125% 20261 | 6,090 | 6,103 | |
Plains All American Pipeline LP 3.80% 2030 | 116 | 114 | |
Qatar Petroleum 3.125% 20411 | 3,380 | 3,084 | |
Qatar Petroleum 3.30% 20511 | 200 | 184 | |
Range Resources Corp. 4.875% 2025 | 1,540 | 1,561 | |
Range Resources Corp. 8.25% 2029 | 1,450 | 1,591 | |
Range Resources Corp. 4.75% 20301 | 2,305 | 2,293 | |
Rattler Midstream Partners LP 5.625% 20251 | 350 | 356 | |
Rockcliff Energy II LLC 5.50% 20291 | 475 | 476 | |
Sabine Pass Liquefaction, LLC 4.50% 2030 | 29 | 30 | |
Sanchez Energy Corp. 7.25% 20231,7 | 27 | —6 | |
Shell International Finance BV 2.75% 2030 | 441 | 428 | |
Shell International Finance BV 3.25% 2050 | 24 | 23 | |
Shell International Finance BV 3.00% 2051 | 3 | 3 | |
Sinopec Group Overseas Development (2018), Ltd. 2.30% 2031 | 3,000 | 2,711 | |
SM Energy Co. 6.625% 2027 | 85 | 87 | |
SM Energy Co. 6.50% 2028 | 1,980 | 2,046 | |
Southwestern Energy Co. 5.95% 20254 | 2,825 | 2,957 | |
Southwestern Energy Co. 7.75% 2027 | 85 | 90 | |
Southwestern Energy Co. 8.375% 2028 | 2,900 | 3,186 | |
Southwestern Energy Co. 5.375% 2029 | 1,310 | 1,328 | |
Southwestern Energy Co. 5.375% 2030 | 4,555 | 4,635 | |
Southwestern Energy Co. 4.75% 2032 | 2,145 | 2,145 | |
Suburban Propane Partners LP / Suburban Energy Finance Corp. 5.00% 20311 | 3,480 | 3,267 | |
Sunoco LP 6.00% 2027 | 1,635 | 1,669 | |
Sunoco LP 4.50% 2029 | 6,875 | 6,495 | |
Superior Plus LP and Superior General Partner, Inc. 4.50% 20291 | 2,210 | 2,079 | |
Tallgrass Energy Partners, LP 7.50% 20251 | 355 | 374 | |
Targa Resources Partners LP 6.50% 2027 | 515 | 543 | |
Targa Resources Partners LP 6.875% 2029 | 15 | 16 | |
Total Capital International 3.127% 2050 | 36 | 33 | |
Transocean Guardian, Ltd. 5.875% 20241 | 70 | 67 | |
Transocean Poseidon, Ltd. 6.875% 20271 | 232 | 230 | |
Venture Global Calcasieu Pass, LLC 4.125% 20311 | 7,910 | 7,774 | |
Western Gas Partners LP 4.50% 2028 | 550 | 562 | |
Western Gas Partners LP 5.45% 2044 | 30 | 30 | |
Western Midstream Operating, LP 3.60% 2025 (3.35% on 8/1/2022)4 | 210 | 209 | |
Western Midstream Operating, LP 4.75% 2028 | 1,005 | 1,039 | |
Western Midstream Operating, LP 4.55% 2030 (4.30% on 8/1/2022)4 | 22 | 22 | |
Western Midstream Operating, LP 5.75% 2050 (5.50% on 8/1/2022)4 | 200 | 195 | |
Williams Companies, Inc. 3.50% 2030 | 39 | 39 | |
Williams Companies, Inc. 2.60% 2031 | 20 | 18 | |
324,789 | |||
Financials 9.08% | |||
Advisor Group Holdings, LLC 6.25% 20281 | 3,570 | 3,575 | |
AerCap Ireland Capital, Ltd. / AerCap Global Aviation Trust 2.45% 2026 | 1,322 | 1,225 | |
AerCap Ireland Capital, Ltd. / AerCap Global Aviation Trust 3.00% 2028 | 980 | 906 | |
AerCap Ireland Capital, Ltd. / AerCap Global Aviation Trust 3.30% 2032 | 5,446 | 4,918 | |
AerCap Ireland Capital, Ltd. / AerCap Global Aviation Trust 3.40% 2033 | 300 | 269 | |
AerCap Ireland Capital, Ltd. / AerCap Global Aviation Trust 3.85% 2041 | 2,449 | 2,155 | |
AG Merger Sub II, Inc. 10.75% 20271 | 4,378 | 4,695 |
American Funds Multi-Sector Income Fund — Page 6 of 39
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Financials (continued) | Principal amount (000) | Value (000) | |
Alliant Holdings Intermediate, LLC 6.75% 20271 | $5,068 | $5,016 | |
Alliant Holdings Intermediate, LLC / Alliant Holdings 4.25% 20271 | 2,815 | 2,713 | |
Alliant Holdings Intermediate, LLC / Alliant Holdings 5.875% 20291 | 2,990 | 2,880 | |
American International Group, Inc. 3.40% 2030 | 120 | 120 | |
American International Group, Inc. 4.375% 2050 | 50 | 55 | |
AmWINS Group, Inc. 4.875% 20291 | 8,053 | 7,741 | |
Aon Corp. 2.20% 2022 | 48 | 48 | |
Aretec Escrow Issuer, Inc. 7.50% 20291 | 4,554 | 4,385 | |
Arthur J. Gallagher & Co. 3.50% 2051 | 106 | 95 | |
Ascensus, Inc., Term Loan, (3-month USD-LIBOR + 6.50%) 7.50% 20292,3 | 3,065 | 3,032 | |
AssuredPartners, Inc. 8.00% 20271 | 1,320 | 1,337 | |
AssuredPartners, Inc. 5.625% 20291 | 2,110 | 1,946 | |
Bangkok Bank PCL 4.45% 2028 | 200 | 210 | |
Bangkok Bank PCL 3.733% 2034 (5-year UST Yield Curve Rate T Note Constant Maturity + 1.90% on 9/25/2029)4 | 600 | 560 | |
Bank of America Corp. 1.734% 2027 (USD-SOFR + 0.96% on 7/22/2026)4 | 7,330 | 6,814 | |
Bank of America Corp. 2.551% 2028 (USD-SOFR + 1.05% on 2/4/2027)4 | 700 | 670 | |
Bank of America Corp. 1.922% 2031 (USD-SOFR + 1.37% on 10/24/2030)4 | 1,042 | 906 | |
Bank of America Corp. 2.651% 2032 (USD-SOFR + 1.22% on 3/11/2031)4 | 190 | 175 | |
Bank of America Corp. 2.972% 2033 (USD-SOFR + 1.33% on 2/4/2032)4 | 210 | 197 | |
Bank of Nova Scotia 2.45% 2032 | 6,709 | 6,180 | |
BNP Paribas 2.159% 2029 (USD-SOFR + 1.218% on 9/15/2028)1,4 | 200 | 178 | |
BNP Paribas 2.871% 2032 (USD-SOFR + 1.387% on 4/19/2031)1,4 | 3,600 | 3,281 | |
Canadian Imperial Bank of Commerce (CIBC) 3.60% 2032 | 1,950 | 1,943 | |
China Construction Bank Corp. 2.45% 2030 (5-year UST Yield Curve Rate T Note Constant Maturity + 2.15% on 6/24/2025)4 | 1,300 | 1,254 | |
China Construction Bank Corp. 2.85% 2032 (5-year UST Yield Curve Rate T Note Constant Maturity + 1.40% on 1/21/2027)4 | 2,505 | 2,393 | |
China Ping An Insurance Overseas (Holdings), Ltd. 2.85% 2031 | 2,888 | 2,442 | |
Chubb INA Holdings, Inc. 2.85% 2051 | 113 | 98 | |
Chubb INA Holdings, Inc. 3.05% 2061 | 155 | 134 | |
Citigroup, Inc. 2.561% 2032 (USD-SOFR + 1.167% on 5/1/2031)4 | 2,208 | 1,995 | |
Citigroup, Inc. 3.057% 2033 (USD-SOFR + 1.351% on 1/25/2032)4 | 5,750 | 5,379 | |
Citigroup, Inc. 3.785% 2033 (USD-SOFR + 1.939% on 3/17/2032)4 | 2,495 | 2,476 | |
Coinbase Global, Inc. 3.375% 20281 | 7,640 | 6,759 | |
Coinbase Global, Inc. 3.625% 20311 | 8,240 | 7,041 | |
Compass Diversified Holdings 5.25% 20291 | 14,355 | 13,511 | |
Compass Diversified Holdings 5.00% 20321 | 5,745 | 5,209 | |
Corebridge Financial, Inc. 3.85% 20291 | 3,633 | 3,630 | |
Corebridge Financial, Inc. 3.90% 20321 | 4,252 | 4,246 | |
Corebridge Financial, Inc. 4.35% 20421 | 969 | 969 | |
Corebridge Financial, Inc. 4.40% 20521 | 5,642 | 5,641 | |
Crédit Agricole SA 1.247% 2027 (USD-SOFR + 0.892% on 1/26/2026)1,4 | 250 | 228 | |
Credit Suisse Group AG 4.194% 2031 (USD-SOFR + 3.73% on 4/1/2030)1,4 | 1,400 | 1,384 | |
Credit Suisse Group AG 3.091% 2032 (USD-SOFR + 1.73% on 5/14/2031)1,4 | 2,075 | 1,875 | |
Danske Bank AS 4.298% 2028 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.75% on 4/1/2027)1,4 | 3,950 | 3,985 | |
Deutsche Bank AG 2.129% 2026 (USD-SOFR + 1.87% on 11/24/2025)4 | 150 | 139 | |
Deutsche Bank AG 2.311% 2027 (USD-SOFR + 1.219% on 11/16/2026)4 | 300 | 275 | |
Deutsche Bank AG 3.547% 2031 (USD-SOFR + 3.043% on 9/18/2030)4 | 170 | 161 | |
Deutsche Bank AG 3.035% 2032 (USD-SOFR + 1.718% on 5/28/2031)4 | 2,450 | 2,206 | |
Digital Currency Group, Inc., Term Loan, (3-month USD-LIBOR + 7.00%) 8.00% 20262,3,8,9 | 3,054 | 2,892 | |
Digital Currency Group, Inc., Term Loan, 8.75% 20262,8,9 | 4,071 | 3,856 |
American Funds Multi-Sector Income Fund — Page 7 of 39
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Financials (continued) | Principal amount (000) | Value (000) | |
DNB Bank ASA 1.535% 2027 (5-year UST Yield Curve Rate T Note Constant Maturity + 0.72% on 5/25/2026)1,4 | $2,550 | $2,348 | |
FS Energy and Power Fund 7.50% 20231 | 6,584 | 6,754 | |
Goldman Sachs Group, Inc. 1.948% 2027 (USD-SOFR + 0.913% on 10/21/2026)4 | 1,638 | 1,525 | |
Goldman Sachs Group, Inc. 2.64% 2028 (USD-SOFR + 1.114% on 2/24/2027)4 | 1,147 | 1,098 | |
Goldman Sachs Group, Inc. 3.615% 2028 (USD-SOFR + 1.846% on 3/15/2027)4 | 1,710 | 1,710 | |
Goldman Sachs Group, Inc. 2.383% 2032 (USD-SOFR + 1.248% on 7/21/2031)4 | 1,977 | 1,755 | |
Goldman Sachs Group, Inc. 2.615% 2032 (USD-SOFR + 1.281% on 4/22/2031)4 | 1,562 | 1,423 | |
Goldman Sachs Group, Inc. 3.21% 2042 (USD-SOFR + 1.513% on 4/22/2041)4 | 1,236 | 1,123 | |
Goldman Sachs Group, Inc. 3.436% 2043 (USD-SOFR + 1.632% on 2/24/2042)4 | 3,010 | 2,795 | |
Groupe BPCE SA 1.652% 2026 (USD-SOFR + 1.52% on 10/6/2025)1,4 | 250 | 231 | |
Hartford Financial Services Group, Inc. 2.90% 2051 | 227 | 187 | |
HDFC Bank, Ltd. 3.70% junior subordinated perpetual bonds (5-Year UST Yield Curve Rate T Note Constant Maturity on 2/25/2027)1,4 | 2,000 | 1,857 | |
Hightower Holding, LLC 6.75% 20291 | 6,955 | 6,815 | |
HSBC Holdings PLC 2.251% 2027 (USD-SOFR + 1.10% on 11/22/2026)4 | 890 | 830 | |
HSBC Holdings PLC 2.206% 2029 (USD-SOFR + 1.285% on 8/17/2028)4 | 2,602 | 2,344 | |
Huarong Finance 2017 Co., Ltd. (3-month USD-LIBOR + 1.15%) 1.465% 20223 | 271 | 269 | |
Huarong Finance 2017 Co., Ltd. (3-month USD-LIBOR + 1.85%) 2.118% 20223 | 654 | 655 | |
Huarong Finance 2017 Co., Ltd. (3-month USD-LIBOR + 1.325%) 1.539% 20233 | 1,360 | 1,331 | |
Huarong Finance 2017 Co., Ltd. 4.25% 2027 | 3,500 | 3,338 | |
Huarong Finance 2017 Co., Ltd. 4.75% 2027 | 1,000 | 980 | |
Huarong Finance 2019 Co., Ltd. (3-month USD-LIBOR + 1.125%) 1.613% 20233 | 2,151 | 2,119 | |
Huarong Finance 2019 Co., Ltd. 2.50% 2023 | 200 | 198 | |
Huarong Finance 2019 Co., Ltd. 3.75% 2024 | 200 | 196 | |
Huarong Finance 2019 Co., Ltd. (3-month USD-LIBOR + 1.25%) 1.738% 20253 | 1,862 | 1,769 | |
Huarong Finance II Co., Ltd. 5.00% 2025 | 200 | 200 | |
Huarong Finance II Co., Ltd. 5.50% 2025 | 438 | 444 | |
Huarong Finance II Co., Ltd., 4.625% 2026 | 216 | 211 | |
Huarong Finance II Co., Ltd. 4.875% 2026 | 698 | 693 | |
HUB International, Ltd. 7.00% 20261 | 3,695 | 3,742 | |
HUB International, Ltd. 5.625% 20291 | 6,905 | 6,607 | |
Icahn Enterprises Finance Corp. 5.25% 2027 | 2,500 | 2,458 | |
Icahn Enterprises Finance Corp. 4.375% 2029 | 1,660 | 1,526 | |
ICBCIL Finance Co., Ltd. 3.625% 2027 | 2,200 | 2,191 | |
ING Groep NV 4.252% 2033 (USD-SOFR + 2.07% on 3/28/2032)4 | 3,976 | 4,097 | |
Intercontinental Exchange, Inc. 2.65% 2040 | 575 | 492 | |
Intercontinental Exchange, Inc. 3.00% 2060 | 55 | 47 | |
Iron Mountain Information Management Services, Inc. 5.00% 20321 | 4,610 | 4,329 | |
JPMorgan Chase & Co. 1.561% 2025 (USD-SOFR + 0.605% on 12/10/2024)4 | 76 | 73 | |
JPMorgan Chase & Co. 1.578% 2027 (USD-SOFR + 0.885% on 4/22/2026)4 | 1,126 | 1,050 | |
JPMorgan Chase & Co. 2.947% 2028 (USD-SOFR + 1.17% on 2/24/2027)4 | 5,325 | 5,203 | |
JPMorgan Chase & Co. 1.953% 2032 (USD-SOFR + 1.065% on 2/4/2031)4 | 1,300 | 1,140 | |
JPMorgan Chase & Co. 2.58% 2032 (USD-SOFR + 1.25% on 4/22/2031)4 | 628 | 576 | |
JPMorgan Chase & Co. 2.963% 2033 (USD-SOFR + 1.26% on 1/25/2032)4 | 2,326 | 2,195 | |
Kasikornbank PCL HK 3.343% 2031 (5-year UST Yield Curve Rate T Note Constant Maturity + 1.70% on 10/2/2026)4 | 600 | 566 | |
Ladder Capital Corp. 4.25% 20271 | 2,820 | 2,708 | |
LPL Holdings, Inc. 4.625% 20271 | 140 | 138 | |
LPL Holdings, Inc. 4.00% 20291 | 3,000 | 2,851 | |
LPL Holdings, Inc. 4.375% 20311 | 1,770 | 1,715 | |
Marsh & McLennan Companies, Inc. 2.375% 2031 | 1,644 | 1,507 | |
MetLife, Inc. 4.55% 2030 | 40 | 44 | |
Metropolitan Life Global Funding I 1.95% 20231 | 150 | 150 |
American Funds Multi-Sector Income Fund — Page 8 of 39
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Financials (continued) | Principal amount (000) | Value (000) | |
Morgan Stanley 1.512% 2027 (USD-SOFR + 0.858% on 7/20/2026)4 | $3,160 | $2,909 | |
Morgan Stanley 2.475% 2028 (USD-SOFR + 1.00% on 1/21/2027)4 | 1,490 | 1,423 | |
Morgan Stanley 2.511% 2032 (USD-SOFR + 1.20% on 10/20/2031)4 | 459 | 415 | |
Morgan Stanley 2.943% 2033 (USD-SOFR + 1.29% on 1/21/2032)4 | 1,902 | 1,786 | |
MSCI, Inc. 4.00% 20291 | 1,000 | 973 | |
MSCI, Inc. 3.625% 20301 | 3,680 | 3,457 | |
MSCI, Inc. 3.875% 20311 | 1,171 | 1,113 | |
National Financial Partners Corp. 6.875% 20281 | 4,349 | 4,159 | |
Navient Corp. 5.875% 2024 | 2,180 | 2,227 | |
Navient Corp. 5.00% 2027 | 4,900 | 4,676 | |
Navient Corp. 5.625% 2033 | 10,995 | 9,280 | |
New York Life Global Funding 0.85% 20261 | 80 | 74 | |
New York Life Global Funding 1.20% 20301 | 21 | 18 | |
Oxford Finance, LLC / Oxford Finance Co-Issuer II, Inc. 6.375% 20271 | 6,520 | 6,654 | |
Power Financial Corp., Ltd. 6.15% 2028 | 200 | 221 | |
Power Financial Corp., Ltd. 4.50% 2029 | 2,100 | 2,099 | |
Power Financial Corp., Ltd. 3.35% 2031 | 3,000 | 2,731 | |
Progressive Corp. 3.20% 2030 | 30 | 30 | |
Rede D’Or Finance SARL 4.50% 20301 | 2,651 | 2,436 | |
Ryan Specialty Group, LLC 4.375% 20301 | 1,930 | 1,826 | |
Shriram Transport Finance Co., Ltd. 4.40% 20241 | 834 | 817 | |
SVB Financial Group 4.70% junior subordinated perpetual bonds (5-year UST Yield Curve Rate T Note Constant Maturity + 3.064% on 11/15/2031)4 | 3,843 | 3,444 | |
Toronto-Dominion Bank 2.45% 2032 | 1,250 | 1,156 | |
Toronto-Dominion Bank 3.20% 2032 | 595 | 586 | |
Travelers Companies, Inc. 4.10% 2049 | 20 | 21 | |
Travelers Companies, Inc. 2.55% 2050 | 3 | 2 | |
Vigorous Champion International, Ltd. 4.25% 2029 | 416 | 399 | |
Wells Fargo & Company 3.35% 2033 (USD-SOFR + 1.50% on 3/2/2032)4 | 8,575 | 8,343 | |
Xiaomi Best Time International, Ltd. 2.875% 20311 | 1,605 | 1,387 | |
Xiaomi Best Time International, Ltd. 4.10% 20511 | 1,120 | 932 | |
304,600 | |||
Communication services 6.77% | |||
Alphabet, Inc. 2.25% 2060 | 30 | 23 | |
Altice France Holding SA 10.50% 20271 | 1,520 | 1,592 | |
Altice France SA 5.125% 20291 | 2,603 | 2,336 | |
AT&T, Inc. 2.75% 2031 | 45 | 42 | |
AT&T, Inc. 2.25% 2032 | 935 | 830 | |
AT&T, Inc. 3.50% 2053 | 7,798 | 6,872 | |
Axiata SPV5 Labuan, Ltd. 3.064% 2050 | 200 | 168 | |
Brightstar Escrow Corp. 9.75% 20251 | 4,350 | 4,409 | |
CCO Holdings, LLC and CCO Holdings Capital Corp. 5.00% 20281 | 200 | 198 | |
CCO Holdings, LLC and CCO Holdings Capital Corp. 4.50% 20301 | 5,140 | 4,832 | |
CCO Holdings, LLC and CCO Holdings Capital Corp. 4.75% 20301 | 4,200 | 4,040 | |
CCO Holdings, LLC and CCO Holdings Capital Corp. 4.25% 20311 | 4,600 | 4,180 | |
CCO Holdings, LLC and CCO Holdings Capital Corp. 4.50% 2032 | 685 | 628 | |
CCO Holdings, LLC and CCO Holdings Capital Corp. 4.75% 20321 | 8,000 | 7,462 | |
CCO Holdings, LLC and CCO Holdings Capital Corp. 4.50% 20331 | 3,450 | 3,101 | |
CCO Holdings, LLC and CCO Holdings Capital Corp. 4.25% 20341 | 6,500 | 5,655 | |
CCO Holdings, LLC and CCO Holdings Capital Corp. 5.125% 2049 | 13 | 13 | |
CCO Holdings, LLC and CCO Holdings Capital Corp. 4.80% 2050 | 280 | 267 | |
CCO Holdings, LLC and CCO Holdings Capital Corp. 3.70% 2051 | 30 | 25 | |
CCO Holdings, LLC and CCO Holdings Capital Corp. 3.90% 2052 | 710 | 601 |
American Funds Multi-Sector Income Fund — Page 9 of 39
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Communication services (continued) | Principal amount (000) | Value (000) | |
Centerfield Media Parent, Inc. 6.625% 20261 | $1,155 | $1,098 | |
Cinemark USA, Inc. 5.875% 20261 | 957 | 929 | |
Cogent Communications Group, Inc. 3.50% 20261 | 2,530 | 2,407 | |
Comcast Corp. 2.65% 2030 | 200 | 192 | |
Comcast Corp. 3.75% 2040 | 15 | 15 | |
Comcast Corp. 4.00% 2048 | 35 | 36 | |
Consolidated Communications, Inc. 5.00% 20281 | 1,400 | 1,208 | |
CSC Holdings, LLC 4.625% 20301 | 400 | 335 | |
Diamond Sports Group LLC 6.625% 20271 | 3,175 | 662 | |
DIRECTV Financing, LLC, Term Loan, (3-month USD-LIBOR + 5.00%) 5.75% 20272,3 | 1,996 | 1,997 | |
DIRECTV Holdings LLC and DIRECTV Financing Co., Inc. 5.875% 20271 | 2,435 | 2,399 | |
DISH DBS Corp. 5.125% 2029 | 1,850 | 1,578 | |
Embarq Corp. 7.995% 2036 | 475 | 458 | |
Epicor Software Corp., Term Loan, (3-month USD-LIBOR + 7.75%) 8.75% 20282,3 | 325 | 333 | |
Front Range BidCo, Inc. 6.125% 20281 | 7,420 | 6,656 | |
Frontier Communications Corp. 5.875% 20271 | 1,440 | 1,432 | |
Frontier Communications Corp. 5.00% 20281 | 1,075 | 1,033 | |
Frontier Communications Corp. 6.75% 20291 | 2,039 | 1,960 | |
Frontier Communications Holdings, LLC 5.875% 2029 | 9 | 8 | |
Gray Escrow II, Inc. 5.375% 20311 | 4,725 | 4,524 | |
Gray Television, Inc. 7.00% 20271 | 3,570 | 3,701 | |
Inmarsat PLC 6.75% 20261 | 230 | 234 | |
Kantar Group LLC, Term Loan B2, (3-month USD-LIBOR + 4.50%) 5.506% 20262,3 | 1,298 | 1,293 | |
Lamar Media Corp. 4.875% 2029 | 2,030 | 2,017 | |
Lamar Media Corp. 4.00% 2030 | 3,100 | 2,956 | |
Lamar Media Corp. 3.625% 2031 | 175 | 161 | |
Level 3 Financing, Inc. 4.25% 20281 | 1,710 | 1,572 | |
Level 3 Financing, Inc. 3.75% 20291 | 2,670 | 2,370 | |
Ligado Networks LLC 15.50% PIK 20231,5 | 1,480 | 1,126 | |
Magallanes, Inc. 5.05% 20421 | 360 | 368 | |
Magallanes, Inc. 5.141% 20521 | 10,506 | 10,774 | |
Magallanes, Inc. 5.391% 20621 | 319 | 331 | |
Midas OpCo Holdings LLC 5.625% 20291 | 8,145 | 7,695 | |
Netflix, Inc. 4.875% 2028 | 882 | 926 | |
Netflix, Inc. 5.875% 2028 | 1,938 | 2,141 | |
Netflix, Inc. 5.375% 20291 | 929 | 1,007 | |
Netflix, Inc. 4.875% 20301 | 3,502 | 3,742 | |
News Corp. 3.875% 20291 | 5,410 | 5,121 | |
News Corp. 5.125% 20321 | 2,015 | 2,028 | |
Nexstar Broadcasting, Inc. 4.75% 20281 | 3,350 | 3,249 | |
Nexstar Escrow Corp. 5.625% 20271 | 3,270 | 3,314 | |
OUTFRONT Media Capital LLC 4.25% 20291 | 3,000 | 2,794 | |
OUTFRONT Media Capital LLC 4.625% 20301 | 1,990 | 1,877 | |
PLDT, Inc. 2.50% 2031 | 1,700 | 1,557 | |
SBA Tower Trust 1.631% 20261 | 4,000 | 3,761 | |
Scripps Escrow II, Inc. 3.875% 20291 | 1,500 | 1,396 | |
Sirius XM Radio, Inc. 5.00% 20271 | 1,075 | 1,074 | |
Sirius XM Radio, Inc. 4.00% 20281 | 4,825 | 4,590 | |
Sirius XM Radio, Inc. 4.125% 20301 | 2,185 | 2,049 | |
Sirius XM Radio, Inc. 3.875% 20311 | 2,700 | 2,462 | |
Sprint Corp. 6.875% 2028 | 2,470 | 2,866 | |
Sprint Corp. 8.75% 2032 | 4,330 | 5,841 | |
Summer (BC) BidCo B LLC 5.50% 20261 | 1,210 | 1,166 | |
Tencent Holdings, Ltd. 3.975% 2029 | 900 | 899 |
American Funds Multi-Sector Income Fund — Page 10 of 39
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Communication services (continued) | Principal amount (000) | Value (000) | |
Tencent Holdings, Ltd. 3.24% 20501 | $1,400 | $1,089 | |
T-Mobile US, Inc. 2.55% 2031 | 121 | 110 | |
T-Mobile US, Inc. 3.30% 2051 | 246 | 208 | |
T-Mobile US, Inc. 3.40% 20521 | 1,160 | 991 | |
Twitter, Inc. 5.00% 20301 | 8,475 | 8,447 | |
Univision Communications, Inc. 6.625% 20271 | 8,135 | 8,531 | |
Univision Communications, Inc. 4.50% 20291 | 13,480 | 12,849 | |
UPC Broadband Finco BV 4.875% 20311 | 4,410 | 4,147 | |
Verizon Communications, Inc. 1.75% 2031 | 825 | 720 | |
Verizon Communications, Inc. 2.55% 2031 | 1,275 | 1,186 | |
Verizon Communications, Inc. 3.40% 2041 | 400 | 376 | |
Verizon Communications, Inc. 2.875% 2050 | 367 | 308 | |
Verizon Communications, Inc. 3.55% 2051 | 480 | 453 | |
Verizon Communications, Inc. 3.875% 2052 | 10,000 | 10,079 | |
VZ Secured Financing BV 5.00% 20321 | 7,890 | 7,389 | |
Warner Music Group 3.875% 20301 | 2,375 | 2,267 | |
Ziggo Bond Co. BV 5.125% 20301 | 1,100 | 1,026 | |
Ziggo Bond Finance BV 4.875% 20301 | 1,870 | 1,765 | |
226,933 | |||
Materials 5.52% | |||
Alcoa Nederland Holding BV 5.50% 20271 | 300 | 311 | |
Allegheny Technologies, Inc. 4.875% 2029 | 3,190 | 3,027 | |
Allegheny Technologies, Inc. 5.125% 2031 | 1,690 | 1,588 | |
Alpek, SAB de CV 3.25% 20311 | 1,100 | 1,005 | |
Anglo American Capital PLC 2.875% 20311 | 500 | 462 | |
Anglo American Capital PLC 3.95% 20501 | 206 | 194 | |
ArcelorMittal 4.25% 2029 | 329 | 334 | |
ArcelorMittal 7.00% 2039 | 237 | 279 | |
ArcelorMittal 6.75% 2041 | 1,374 | 1,631 | |
Arconic Corp. 6.00% 20251 | 115 | 118 | |
Ardagh Group SA 6.50% Cash 20271,5 | 953 | 873 | |
Ardagh Metal Packaging Finance USA LLC 4.00% 20291 | 5,980 | 5,396 | |
Ardagh Packaging Finance 5.25% 20251 | 700 | 700 | |
Axalta Coating Systems LLC 4.75% 20271 | 3,085 | 2,972 | |
Bluestar Finance Holdings, Ltd. 3.875% perpetual bonds (3-year UST Yield Curve Rate T Note Constant Maturity + 6.651% on 6/24/2023)4 | 1,600 | 1,604 | |
Braskem Idesa SAPI 7.45% 20291 | 2,150 | 2,188 | |
Braskem Idesa SAPI 7.45% 2029 | 500 | 509 | |
Braskem Idesa SAPI 6.99% 20321 | 5,880 | 5,770 | |
Braskem SA 4.50% 20301 | 1,170 | 1,134 | |
Braskem SA 4.50% 2030 | 850 | 824 | |
Braskem SA 5.875% 20501 | 400 | 398 | |
BWAY Parent Co., Inc. 5.50% 20241 | 1,995 | 1,990 | |
Canpack SA / Canpack US, LLC 3.875% 20291 | 4,100 | 3,594 | |
Cleveland-Cliffs, Inc. 9.875% 20251 | 96 | 107 | |
Cleveland-Cliffs, Inc. 6.75% 20261 | 260 | 273 | |
Cleveland-Cliffs, Inc. 5.875% 2027 | 160 | 164 | |
Cleveland-Cliffs, Inc. 4.875% 20311 | 1,850 | 1,833 | |
Constellium SE 3.75% 20291 | 3,140 | 2,824 | |
CVR Partners LP 6.125% 20281 | 5,965 | 5,973 | |
Diamond (BC) BV 4.625% 20291 | 720 | 648 | |
Dow Chemical Co. 4.80% 2049 | 57 | 63 | |
Ecolab, Inc. 2.125% 2032 | 2,800 | 2,564 |
American Funds Multi-Sector Income Fund — Page 11 of 39
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Materials (continued) | Principal amount (000) | Value (000) | |
Element Solutions, Inc. 3.875% 20281 | $3,450 | $3,228 | |
First Quantum Minerals, Ltd. 6.50% 20241 | 4,950 | 4,989 | |
First Quantum Minerals, Ltd. 6.875% 20271 | 5,717 | 5,995 | |
FMG Resources 4.375% 20311 | 3,110 | 2,947 | |
Fresnillo PLC 4.25% 20501 | 1,100 | 972 | |
FXI Holdings, Inc. 7.875% 20241 | 2,333 | 2,327 | |
FXI Holdings, Inc. 12.25% 20261 | 11,891 | 12,891 | |
GC Treasury Center Co., Ltd. 4.40% 20321 | 1,600 | 1,627 | |
Glencore Funding LLC 2.625% 20311 | 2,000 | 1,792 | |
Glencore Funding LLC 3.875% 20511 | 2,000 | 1,857 | |
GPC Merger Sub, Inc. 7.125% 20281 | 2,017 | 1,834 | |
Gran Colombia Gold Corp. 6.875% 20261 | 1,860 | 1,665 | |
Hexion, Inc. 7.875% 20271 | 4,240 | 4,474 | |
International Flavors & Fragrances, Inc. 1.832% 20271 | 24 | 22 | |
International Flavors & Fragrances, Inc. 2.30% 20301 | 1,044 | 934 | |
International Flavors & Fragrances, Inc. 3.468% 20501 | 850 | 753 | |
Labl, Inc. 8.25% 20291 | 2,175 | 1,923 | |
LSB Industries, Inc. 6.25% 20281 | 950 | 965 | |
LYB International Finance III, LLC 2.25% 2030 | 521 | 470 | |
LYB International Finance III, LLC 3.375% 2040 | 1,500 | 1,347 | |
LYB International Finance III, LLC 3.625% 2051 | 1,091 | 991 | |
Mercer International, Inc. 5.125% 2029 | 1,965 | 1,898 | |
Methanex Corp. 5.125% 2027 | 5,150 | 5,182 | |
Methanex Corp. 5.25% 2029 | 3,000 | 3,051 | |
Newcrest Finance Pty, Ltd. 3.25% 20301 | 62 | 59 | |
Newcrest Finance Pty, Ltd. 4.20% 20501 | 15 | 15 | |
Nova Chemicals Corp. 5.25% 20271 | 3,100 | 3,093 | |
Nova Chemicals Corp. 4.25% 20291 | 6,400 | 5,909 | |
Novelis Corp. 4.75% 20301 | 3,371 | 3,279 | |
Novelis Corp. 3.875% 20311 | 2,556 | 2,342 | |
Olin Corp. 5.00% 2030 | 3,000 | 2,976 | |
Praxair, Inc. 2.00% 2050 | 18 | 14 | |
Rayonier A.M. Products, Inc. 7.625% 20261 | 60 | 59 | |
Rio Tinto Finance (USA), Ltd. 2.75% 2051 | 187 | 162 | |
SCIH Salt Holdings, Inc. 4.875% 20281 | 16,635 | 15,701 | |
SCIH Salt Holdings, Inc. 6.625% 20291 | 7,430 | 6,685 | |
Scotts Miracle-Gro Co. 4.50% 2029 | 2,068 | 1,942 | |
Scotts Miracle-Gro Co. 4.375% 2032 | 2,630 | 2,334 | |
Sealed Air Corp. 4.00% 20271 | 1,688 | 1,649 | |
Silgan Holdings, Inc. 4.125% 2028 | 1,474 | 1,417 | |
Summit Materials, Inc. 6.50% 20271 | 270 | 275 | |
Summit Materials, Inc. 5.25% 20291 | 2,900 | 2,867 | |
Trivium Packaging BV 5.50% 20261 | 200 | 199 | |
Trivium Packaging BV 8.50% 20271 | 1,200 | 1,196 | |
Valvoline, Inc. 4.25% 20301 | 2,265 | 2,071 | |
Valvoline, Inc. 3.625% 20311 | 2,535 | 2,194 | |
Venator Materials Corp. 5.75% 20251 | 2,815 | 2,266 | |
Venator Materials Corp. 9.50% 20251 | 4,410 | 4,628 | |
W. R. Grace Holdings LLC 4.875% 20271 | 2,035 | 1,994 | |
W. R. Grace Holdings LLC 5.625% 20291 | 2,055 | 1,927 | |
Warrior Met Coal, Inc. 7.875% 20281 | 2,100 | 2,212 | |
184,949 |
American Funds Multi-Sector Income Fund — Page 12 of 39
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Health care 5.45% | Principal amount (000) | Value (000) | |
AmerisourceBergen Corp. 2.70% 2031 | $1,950 | $1,805 | |
Amgen, Inc. 3.35% 2032 | 1,316 | 1,305 | |
Amgen, Inc. 4.20% 2052 | 137 | 142 | |
Amgen, Inc. 4.40% 2062 | 179 | 186 | |
AstraZeneca Finance LLC 1.75% 2028 | 812 | 750 | |
AstraZeneca Finance LLC 2.25% 2031 | 121 | 113 | |
AstraZeneca PLC 3.00% 2051 | 56 | 52 | |
Avantor Funding, Inc. 4.625% 20281 | 1,835 | 1,817 | |
Avantor Funding, Inc. 3.875% 20291 | 3,740 | 3,521 | |
Bausch Health Companies, Inc. 9.25% 20261 | 1,370 | 1,405 | |
Bausch Health Companies, Inc. 5.75% 20271 | 200 | 197 | |
Bausch Health Companies, Inc. 5.00% 20281 | 660 | 545 | |
Bausch Health Companies, Inc. 7.00% 20281 | 830 | 744 | |
Bausch Health Companies, Inc. 5.25% 20301 | 1,220 | 960 | |
Bausch Health Companies, Inc. 5.25% 20311 | 7,680 | 5,988 | |
Baxter International, Inc. 1.915% 20271 | 2,150 | 2,013 | |
Boston Scientific Corp. 2.65% 2030 | 150 | 141 | |
Catalent Pharma Solutions, Inc. 5.00% 20271 | 455 | 461 | |
Catalent Pharma Solutions, Inc. 3.125% 20291 | 1,850 | 1,685 | |
Catalent Pharma Solutions, Inc. 3.50% 20301 | 3,265 | 2,986 | |
Centene Corp. 4.25% 2027 | 30 | 30 | |
Centene Corp. 2.45% 2028 | 10,155 | 9,292 | |
Centene Corp. 4.625% 2029 | 6,191 | 6,252 | |
Centene Corp. 3.00% 2030 | 610 | 561 | |
Centene Corp. 3.375% 2030 | 644 | 607 | |
Centene Corp. 2.50% 2031 | 3,280 | 2,900 | |
Centene Corp. 2.625% 2031 | 4,440 | 3,959 | |
Charles River Laboratories International, Inc. 4.25% 20281 | 1,923 | 1,884 | |
Charles River Laboratories International, Inc. 3.75% 20291 | 1,550 | 1,465 | |
Cigna Corp. 2.375% 2031 | 80 | 73 | |
Community Health Systems, Inc. 5.625% 20271 | 180 | 184 | |
Community Health Systems, Inc. 6.00% 20291 | 165 | 167 | |
Community Health Systems, Inc. 6.875% 20291 | 1,200 | 1,181 | |
DaVita, Inc. 4.625% 20301 | 3,470 | 3,245 | |
Encompass Health Corp. 4.50% 2028 | 1,267 | 1,244 | |
Encompass Health Corp. 4.75% 2030 | 1,280 | 1,231 | |
Endo DAC / Endo Finance LLC / Endo Finco 6.00% 20281 | 1,100 | 626 | |
Endo Luxembourg Finance Co. I SARL / Endo U.S., Inc. 6.125% 20291 | 3,610 | 3,299 | |
Grifols Escrow Issuer SA 4.75% 20281 | 1,510 | 1,423 | |
HCA, Inc. 5.375% 2026 | 425 | 447 | |
HCA, Inc. 5.625% 2028 | 3,770 | 4,082 | |
HCA, Inc. 3.625% 20321 | 182 | 179 | |
HCA, Inc. 4.625% 20521 | 146 | 148 | |
HealthEquity, Inc. 4.50% 20291 | 1,410 | 1,338 | |
Humana, Inc. 3.70% 2029 | 983 | 987 | |
IMS Health Holdings, Inc. 5.00% 20261 | 600 | 611 | |
Johnson & Johnson 2.10% 2040 | 38 | 32 | |
Kaiser Foundation Hospitals 2.81% 2041 | 355 | 311 | |
Merck & Co., Inc. 1.45% 2030 | 70 | 62 | |
Minerva Merger Sub, Inc. 6.50% 20301 | 5,000 | 4,857 | |
Molina Healthcare, Inc. 4.375% 20281 | 1,621 | 1,606 | |
Molina Healthcare, Inc. 3.875% 20321 | 4,000 | 3,813 | |
Mozart Debt Merger Sub, Inc. 3.875% 20291 | 2,000 | 1,853 | |
Mozart Debt Merger Sub, Inc. 5.25% 20291 | 5,850 | 5,446 |
American Funds Multi-Sector Income Fund — Page 13 of 39
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Health care (continued) | Principal amount (000) | Value (000) | |
Novartis Capital Corp. 1.75% 2025 | $41 | $40 | |
Novartis Capital Corp. 2.00% 2027 | 24 | 23 | |
Novartis Capital Corp. 2.20% 2030 | 30 | 28 | |
Option Care Health, Inc. 4.375% 20291 | 1,330 | 1,249 | |
Organon Finance 1 LLC 5.125% 20311 | 1,335 | 1,290 | |
Owens & Minor, Inc. 6.625% 20301 | 4,480 | 4,616 | |
Par Pharmaceutical, Inc. 7.50% 20271 | 450 | 421 | |
Partners HealthCare System, Inc. 3.192% 2049 | 42 | 38 | |
Pfizer, Inc. 1.70% 2030 | 44 | 40 | |
Radiology Partners, Inc. 9.25% 20281 | 3,605 | 3,612 | |
Rede D’Or Finance SARL 4.50% 2030 | 2,605 | 2,394 | |
Roche Holdings, Inc. 1.93% 20281 | 4,870 | 4,532 | |
Roche Holdings, Inc. 2.076% 20311 | 8,254 | 7,604 | |
Roche Holdings, Inc. 2.607% 20511 | 791 | 687 | |
RP Escrow Issuer, LLC 5.25% 20251 | 1,635 | 1,599 | |
Select Medical Holdings Corp. 6.25% 20261 | 196 | 203 | |
Summa Health 3.511% 2051 | 1,325 | 1,265 | |
Surgery Center Holdings 10.00% 20271 | 235 | 247 | |
Syneos Health, Inc. 3.625% 20291 | 1,559 | 1,443 | |
Tenet Healthcare Corp. 4.625% 2024 | 21 | 21 | |
Tenet Healthcare Corp. 4.875% 20261 | 750 | 758 | |
Tenet Healthcare Corp. 5.125% 20271 | 1,230 | 1,237 | |
Tenet Healthcare Corp. 6.125% 20281 | 1,410 | 1,435 | |
Tenet Healthcare Corp. 4.375% 20301 | 6,000 | 5,767 | |
Teva Pharmaceutical Finance Co. BV 3.15% 2026 | 14,060 | 12,755 | |
Teva Pharmaceutical Finance Co. BV 4.75% 2027 | 10,380 | 9,977 | |
Teva Pharmaceutical Finance Co. BV 6.75% 2028 | 12,590 | 13,224 | |
Teva Pharmaceutical Finance Co. BV 5.125% 2029 | 11,970 | 11,522 | |
Teva Pharmaceutical Finance Co. BV 4.10% 2046 | 3,000 | 2,361 | |
Thermo Fisher Scientific, Inc. 2.00% 2031 | 37 | 33 | |
Valeant Pharmaceuticals International, Inc. 9.00% 20251 | 200 | 207 | |
Valeant Pharmaceuticals International, Inc. 8.50% 20271 | 75 | 75 | |
182,914 | |||
Industrials 5.36% | |||
Atkore, Inc. 4.25% 20311 | 2,000 | 1,863 | |
Atlantic Aviation FBO, Inc., Term Loan, (3-month USD-LIBOR + 3.00%) 3.50% 20282,3 | 3,990 | 3,948 | |
Atlantic Aviation FBO, Inc., Term Loan, (3-month USD-LIBOR + 5.75%) 6.25% 20292,3 | 1,875 | 1,869 | |
ATS Automation Tooling Systems, Inc. 4.125% 20281 | 225 | 212 | |
Boeing Company 2.196% 2026 | 25 | 24 | |
Boeing Company 2.75% 2026 | 500 | 485 | |
Boeing Company 3.25% 2028 | 1,078 | 1,041 | |
Boeing Company 5.15% 2030 | 13,333 | 14,240 | |
Boeing Company 3.625% 2031 | 4,738 | 4,620 | |
Boeing Company 3.75% 2050 | 83 | 74 | |
Boeing Company 5.805% 2050 | 597 | 692 | |
Bombardier, Inc. 7.50% 20251 | 1,205 | 1,213 | |
Bombardier, Inc. 7.125% 20261 | 6,050 | 5,936 | |
Bombardier, Inc. 7.875% 20271 | 4,400 | 4,313 | |
Bombardier, Inc. 6.00% 20281 | 1,790 | 1,680 | |
Builders FirstSource, Inc. 4.25% 20321 | 2,175 | 2,029 | |
Burlington Northern Santa Fe LLC 3.55% 2050 | 750 | 747 | |
Burlington Northern Santa Fe LLC 3.30% 2051 | 479 | 455 | |
Burlington Northern Santa Fe LLC 2.875% 2052 | 10 | 9 |
American Funds Multi-Sector Income Fund — Page 14 of 39
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Industrials (continued) | Principal amount (000) | Value (000) | |
BWX Technologies, Inc. 4.125% 20281 | $1,150 | $1,109 | |
BWX Technologies, Inc. 4.125% 20291 | 1,080 | 1,042 | |
Canadian Pacific Railway, Ltd. 1.75% 2026 | 435 | 410 | |
Canadian Pacific Railway, Ltd. 2.45% 2031 | 469 | 436 | |
Canadian Pacific Railway, Ltd. 3.00% 2041 | 423 | 381 | |
Canadian Pacific Railway, Ltd. 3.10% 2051 | 377 | 334 | |
Clarivate Science Holdings Corp. 3.875% 20281 | 4,910 | 4,690 | |
Clarivate Science Holdings Corp. 4.875% 20291 | 7,645 | 7,209 | |
CoreLogic, Inc. 4.50% 20281 | 11,844 | 11,191 | |
CoreLogic, Inc., Term Loan, (3-month USD-LIBOR + 6.50%) 7.00% 20292,3 | 3,950 | 3,915 | |
Cornerstone Building Brands, Inc., Term Loan B, (3-month USD-LIBOR + 3.25%) 3.75% 20282,3 | 146 | 141 | |
Covert Mergeco, Inc. 4.875% 20291 | 3,645 | 3,484 | |
CSX Corp. 4.50% 2049 | 25 | 27 | |
Dun & Bradstreet Corp. 5.00% 20291 | 7,948 | 7,480 | |
Empresa de Transporte de Pasajeros Metro SA 4.70% 20501 | 400 | 405 | |
General Dynamics Corp. 1.15% 2026 | 5,600 | 5,217 | |
General Electric Capital Corp. 4.418% 2035 | 400 | 430 | |
GFL Environmental, Inc. 4.00% 20281 | 4,500 | 4,145 | |
Gol Finance SA 8.00% 20261 | 3,038 | 2,735 | |
Harsco Corp. 5.75% 20271 | 1,885 | 1,829 | |
Honeywell International, Inc. 2.70% 2029 | 35 | 35 | |
Howmet Aerospace, Inc. 6.875% 2025 | 3 | 3 | |
JELD-WEN Holding, Inc. 4.875% 20271 | 2,050 | 1,967 | |
Labl Escrow Issuer, LLC 10.50% 20271 | 500 | 502 | |
Lima Metro Line 2 Finance, Ltd. 5.875% 20341 | 2,666 | 2,865 | |
Lockheed Martin Corp. 1.85% 2030 | 358 | 325 | |
Lockheed Martin Corp. 3.60% 2035 | 49 | 50 | |
Lockheed Martin Corp. 4.50% 2036 | 39 | 43 | |
Lockheed Martin Corp. 4.07% 2042 | 10 | 11 | |
LSC Communications, Inc. 8.75% 20231,7,8,9 | 45 | —6 | |
Masco Corp. 2.00% 2031 | 48 | 42 | |
Mexico City Airport Trust 4.25% 2026 | 1,600 | 1,585 | |
Moog, Inc. 4.25% 20271 | 1,481 | 1,441 | |
Mueller Water Products, Inc. 4.00% 20291 | 1,200 | 1,138 | |
Nielsen Finance LLC and Nielsen Finance Co. 5.625% 20281 | 1,250 | 1,260 | |
Nielsen Finance LLC and Nielsen Finance Co. 5.875% 20301 | 1,300 | 1,305 | |
Nielsen Finance LLC and Nielsen Finance Co. 4.75% 20311 | 125 | 125 | |
Norfolk Southern Corp. 3.05% 2050 | 8 | 7 | |
PGT Innovations, Inc. 4.375% 20291 | 2,490 | 2,327 | |
PM General Purchaser LLC 9.50% 20281 | 8,000 | 7,877 | |
Raytheon Technologies Corp. 1.90% 2031 | 1,515 | 1,342 | |
Republic Services, Inc. 2.375% 2033 | 1,390 | 1,250 | |
Ritchie Bros. Holdings, Inc. 4.75% 20311 | 2,030 | 1,983 | |
Roller Bearing Company of America, Inc. 4.375% 20291 | 2,755 | 2,572 | |
Rolls-Royce PLC 5.75% 20271 | 6,230 | 6,407 | |
Sensata Technologies Holding BV 4.00% 20291 | 2,230 | 2,127 | |
Sensata Technologies, Inc. 3.75% 20311 | 150 | 139 | |
Siemens AG 1.20% 20261 | 250 | 232 | |
SkyMiles IP, Ltd. 4.75% 20281 | 770 | 777 | |
SkyMiles IP, Ltd., Term Loan, (3-month USD-LIBOR + 3.75%) 4.75% 20272,3 | 750 | 777 | |
SRS Distribution, Inc. 4.625% 20281 | 5,810 | 5,561 | |
Stericycle, Inc. 3.875% 20291 | 3,180 | 2,961 | |
TransDigm, Inc. 6.25% 20261 | 1,250 | 1,285 | |
TransDigm, Inc. 5.50% 2027 | 1,235 | 1,227 |
American Funds Multi-Sector Income Fund — Page 15 of 39
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Industrials (continued) | Principal amount (000) | Value (000) | |
TransDigm, Inc. 4.625% 2029 | $5,050 | $4,728 | |
TransDigm, Inc. 4.875% 2029 | 1,990 | 1,869 | |
Uber Technologies, Inc. 8.00% 20261 | 2,185 | 2,324 | |
Union Pacific Corp. 2.375% 2031 | 2,480 | 2,324 | |
Union Pacific Corp. 2.80% 2032 | 4,580 | 4,403 | |
Union Pacific Corp. 4.30% 2049 | 75 | 82 | |
Union Pacific Corp. 3.25% 2050 | 13 | 12 | |
United Airlines Holdings, Inc. 6.50% 20271 | 975 | 1,018 | |
United Airlines, Inc. 4.375% 20261 | 2,455 | 2,418 | |
United Airlines, Inc. 4.625% 20291 | 1,990 | 1,895 | |
United Rentals, Inc. 5.25% 2030 | 960 | 992 | |
Vertical Holdco GMBH 7.625% 20281 | 1,302 | 1,293 | |
WESCO Distribution, Inc. 7.125% 20251 | 270 | 281 | |
WESCO Distribution, Inc. 7.25% 20281 | 2,465 | 2,621 | |
179,868 | |||
Utilities 4.29% | |||
AEP Texas, Inc. 3.45% 2051 | 404 | 359 | |
AEP Transmission Co. LLC 2.75% 2051 | 21 | 17 | |
AES Panama Generation Holdings SRL 4.375% 2030 | 1,400 | 1,336 | |
AES Panama Generation Holdings SRL 4.375% 20301 | 875 | 835 | |
Alabama Power Co. 3.00% 2052 | 330 | 283 | |
Alfa Desarrollo SpA 4.55% 20511 | 7,145 | 6,212 | |
Alliant Energy Finance, LLC 3.60% 20321 | 6,750 | 6,573 | |
American Electric Power Company, Inc. 1.00% 2025 | 25 | 23 | |
AmeriGas Partners LP 5.625% 2024 | 175 | 179 | |
Calpine Corp. 5.125% 20281 | 1,070 | 1,021 | |
Cleveland Electric Illuminating Co. 4.55% 20301 | 550 | 579 | |
Connecticut Light and Power Co. 2.05% 2031 | 175 | 159 | |
Consorcio Transmantaro SA 4.70% 2034 | 1,000 | 1,011 | |
Consumers Energy Co. 3.10% 2050 | 36 | 33 | |
Consumers Energy Co. 2.65% 2052 | 2,070 | 1,725 | |
DPL, Inc. 4.125% 2025 | 1,390 | 1,382 | |
DTE Electric Company 3.65% 2052 | 2,100 | 2,129 | |
DTE Energy Company 1.90% 2028 | 1,010 | 941 | |
DTE Energy Company 3.00% 2032 | 3,350 | 3,271 | |
DTE Energy Company 2.95% 2050 | 662 | 587 | |
Duke Energy Progress, Inc. 2.00% 2031 | 480 | 430 | |
Duke Energy Progress, LLC 2.50% 2050 | 134 | 109 | |
Edison International 4.95% 2025 | 130 | 133 | |
Edison International 5.75% 2027 | 16 | 17 | |
Edison International 4.125% 2028 | 1,384 | 1,375 | |
Edison International 5.00% junior subordinated perpetual bonds (5-year UST Yield Curve Rate T Note Constant Maturity + 3.901% on 3/15/2027)4 | 4,000 | 3,764 | |
Emera US Finance LP 2.639% 2031 | 1,325 | 1,190 | |
Empresas Publicas de Medellin ESP 4.25% 20291 | 500 | 446 | |
Empresas Publicas de Medellin ESP 4.375% 20311 | 1,150 | 993 | |
Enfragen Energia Sur SA 5.375% 2030 | 200 | 139 | |
ENN Clean Energy International Investment, Ltd. 3.375% 20261 | 2,070 | 1,938 | |
ENN Energy Holdings, Ltd. 2.625% 2030 | 1,000 | 898 | |
ENN Energy Holdings, Ltd. 2.625% 20301 | 700 | 629 | |
Entergy Corp. 2.40% 2031 | 50 | 45 | |
FirstEnergy Corp. 4.10% 20281 | 675 | 682 | |
FirstEnergy Corp. 2.25% 2030 | 1,518 | 1,346 |
American Funds Multi-Sector Income Fund — Page 16 of 39
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Utilities (continued) | Principal amount (000) | Value (000) | |
FirstEnergy Corp. 2.65% 2030 | $12,512 | $11,383 | |
FirstEnergy Corp. 7.375% 2031 | 1,667 | 2,059 | |
FirstEnergy Corp., Series B, 4.40% 20274 | 180 | 182 | |
FirstEnergy Transmission LLC 2.866% 20281 | 325 | 302 | |
Florida Power & Light Company 2.45% 2032 | 600 | 565 | |
Florida Power & Light Company 2.875% 2051 | 3,475 | 3,122 | |
Instituto Costarricense de Electricidad 6.75% 20311 | 2,000 | 2,019 | |
Investment Energy Resources, Ltd. 6.25% 20291 | 350 | 354 | |
Jersey Central Power & Light Co. 4.30% 20261 | 50 | 51 | |
Jersey Central Power & Light Co. 2.75% 20321 | 250 | 233 | |
Monongahela Power Co. 3.55% 20271 | 1,775 | 1,776 | |
NextEra Energy Capital Holdings, Inc. 2.44% 2032 | 8,000 | 7,325 | |
Oncor Electric Delivery Company, LLC 2.70% 20511 | 150 | 129 | |
Pacific Gas and Electric Co. 2.95% 2026 | 29 | 28 | |
Pacific Gas and Electric Co. 3.15% 2026 | 596 | 575 | |
Pacific Gas and Electric Co. 2.10% 2027 | 300 | 270 | |
Pacific Gas and Electric Co. 3.30% 2027 | 373 | 359 | |
Pacific Gas and Electric Co. 3.00% 2028 | 225 | 210 | |
Pacific Gas and Electric Co. 3.75% 2028 | 1,094 | 1,049 | |
Pacific Gas and Electric Co. 4.65% 2028 | 125 | 125 | |
Pacific Gas and Electric Co. 4.55% 2030 | 6,975 | 6,932 | |
Pacific Gas and Electric Co. 2.50% 2031 | 3,210 | 2,773 | |
Pacific Gas and Electric Co. 3.25% 2031 | 1,550 | 1,404 | |
Pacific Gas and Electric Co. 3.50% 2050 | 4,576 | 3,697 | |
PG&E Corp. 5.00% 2028 | 1,610 | 1,558 | |
PG&E Corp. 5.25% 2030 | 3,680 | 3,574 | |
Public Service Company of Colorado 1.875% 2031 | 4,025 | 3,582 | |
Public Service Company of Colorado 1.90% 2031 | 1,200 | 1,070 | |
Public Service Electric and Gas Co. 1.90% 2031 | 300 | 267 | |
Public Service Electric and Gas Co. 3.10% 2032 | 1,180 | 1,167 | |
Southern California Edison Co. 0.975% 2024 | 275 | 262 | |
Southern California Edison Co. 2.25% 2030 | 50 | 45 | |
Southern California Edison Co. 2.50% 2031 | 3,800 | 3,463 | |
Southern California Edison Co. 2.75% 2032 | 4,175 | 3,880 | |
Southern California Edison Co. 3.45% 2052 | 5,000 | 4,504 | |
Southwestern Electric Power Co. 3.25% 2051 | 250 | 216 | |
State Grid Overseas Investment, Ltd. 4.375% 2043 | 1,200 | 1,316 | |
Talen Energy Corp. 10.50% 20261 | 9,445 | 2,361 | |
Talen Energy Corp. 7.25% 20271 | 1,255 | 1,175 | |
Talen Energy Corp. 6.625% 20281 | 190 | 177 | |
Talen Energy Supply, LLC 7.625% 20281 | 1,165 | 1,081 | |
Union Electric Co. 2.15% 2032 | 350 | 319 | |
Union Electric Co. 3.90% 2052 | 745 | 772 | |
Venture Global Calcasieu Pass, LLC 3.875% 20291 | 9,065 | 8,825 | |
Virginia Electric and Power Co. 2.30% 2031 | 175 | 161 | |
Virginia Electric and Power Co. 2.40% 2032 | 12,951 | 11,953 | |
Virginia Electric and Power Co. 2.45% 2050 | 25 | 20 | |
Wisconsin Power and Light Co. 1.95% 2031 | 275 | 245 | |
Xcel Energy, Inc. 1.75% 2027 | 1,100 | 1,020 | |
Xcel Energy, Inc. 2.60% 2029 | 181 | 172 | |
Xcel Energy, Inc. 2.35% 2031 | 846 | 771 | |
Xcel Energy, Inc. 3.50% 2049 | 290 | 270 | |
143,937 |
American Funds Multi-Sector Income Fund — Page 17 of 39
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Information technology 3.67% | Principal amount (000) | Value (000) | |
Almonde, Inc., Term Loan, (3-month USD-LIBOR + 7.25%) 8.25% 20252,3 | $2,150 | $2,120 | |
Analog Devices, Inc. 1.70% 2028 | 398 | 368 | |
Analog Devices, Inc. 2.10% 2031 | 558 | 515 | |
Apple, Inc. 2.40% 2050 | 25 | 21 | |
Apple, Inc. 2.65% 2050 | 5 | 4 | |
Apple, Inc. 2.65% 2051 | 420 | 363 | |
Applied Systems, Inc., Term Loan, (3-month USD-LIBOR + 5.50%) 6.506% 20252,3 | 800 | 798 | |
Black Knight, Inc. 3.625% 20281 | 4,710 | 4,469 | |
BMC Software, Inc. 7.125% 20251 | 5,900 | 6,126 | |
BMC Software, Inc. 9.125% 20261 | 90 | 93 | |
BMC Software, Inc., Term Loan, (3-month USD-LIBOR + 5.50%) 6.128% 20262,3 | 6,675 | 6,627 | |
Booz Allen Hamilton, Inc. 4.00% 20291 | 2,787 | 2,725 | |
Broadcom Corp. / Broadcom Cayman Finance, Ltd. 3.875% 2027 | 53 | 53 | |
Broadcom, Inc. 4.00% 20291 | 1,984 | 1,983 | |
Broadcom, Inc. 4.75% 2029 | 220 | 232 | |
Broadcom, Inc. 4.15% 2030 | 350 | 355 | |
Broadcom, Inc. 2.45% 20311 | 8,141 | 7,275 | |
Broadcom, Inc. 4.15% 20321 | 3,121 | 3,114 | |
Broadcom, Inc. 4.30% 2032 | 1,000 | 1,017 | |
Broadcom, Inc. 2.60% 20331 | 6,660 | 5,793 | |
Broadcom, Inc. 3.469% 20341 | 474 | 440 | |
Broadcom, Inc. 3.137% 20351 | 130 | 115 | |
Broadcom, Inc. 3.187% 20361 | 111 | 97 | |
Broadcom, Inc. 3.50% 20411 | 1,087 | 971 | |
Broadcom, Inc. 3.75% 20511 | 1,369 | 1,230 | |
CommScope, Inc. 7.125% 20281 | 5,000 | 4,523 | |
Diebold Nixdorf, Inc. 9.375% 20251 | 7,230 | 7,356 | |
Fair Isaac Corp. 4.00% 20281 | 2,640 | 2,561 | |
Gartner, Inc. 4.50% 20281 | 1,195 | 1,192 | |
Gartner, Inc. 3.625% 20291 | 225 | 211 | |
Gartner, Inc. 3.75% 20301 | 1,460 | 1,373 | |
Global Payments, Inc. 2.90% 2030 | 67 | 62 | |
Mastercard, Inc. 2.00% 2031 | 179 | 163 | |
Mastercard, Inc. 3.85% 2050 | 100 | 106 | |
Mastercard, Inc. 2.95% 2051 | 290 | 266 | |
Microsoft Corp. 2.525% 2050 | 90 | 78 | |
MoneyGram International, Inc. 5.375% 20261 | 4,025 | 4,195 | |
NCR Corp. 5.125% 20291 | 2,900 | 2,791 | |
Oracle Corp. 2.30% 2028 | 454 | 416 | |
Oracle Corp. 2.875% 2031 | 5,479 | 5,004 | |
Oracle Corp. 3.60% 2050 | 50 | 42 | |
Oracle Corp. 3.95% 2051 | 212 | 186 | |
PayPal Holdings, Inc. 2.85% 2029 | 43 | 42 | |
Rocket Software, Inc. 6.50% 20291 | 8,750 | 7,958 | |
Sabre GLBL, Inc. 7.375% 20251 | 2,540 | 2,656 | |
salesforce.com, inc. 1.95% 2031 | 125 | 115 | |
salesforce.com, inc. 2.70% 2041 | 125 | 111 | |
ServiceNow, Inc. 1.40% 2030 | 6,504 | 5,535 | |
Solera Holdings, Inc., Term Loan B, (3-month USD-LIBOR + 4.00%) 4.50% 20282,3 | 2,219 | 2,207 | |
Square, Inc. 3.50% 20311 | 15,000 | 13,750 | |
UKG, Inc., Term Loan, (3-month USD-LIBOR + 5.25%) 5.75% 20272,3 | 6,780 | 6,752 | |
VeriSign, Inc. 2.70% 2031 | 729 | 661 |
American Funds Multi-Sector Income Fund — Page 18 of 39
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Information technology (continued) | Principal amount (000) | Value (000) | |
Veritas Holdings, Ltd. 7.50% 20251 | $6,055 | $5,752 | |
Visa, Inc. 2.70% 2040 | 120 | 109 | |
123,077 | |||
Consumer staples 3.01% | |||
7-Eleven, Inc. 0.95% 20261 | 365 | 332 | |
7-Eleven, Inc. 1.30% 20281 | 445 | 390 | |
7-Eleven, Inc. 1.80% 20311 | 3,795 | 3,275 | |
7-Eleven, Inc. 2.50% 20411 | 900 | 729 | |
7-Eleven, Inc. 2.80% 20511 | 815 | 659 | |
Albertsons Companies, Inc. 3.50% 20291 | 4,175 | 3,773 | |
Altria Group, Inc. 4.80% 2029 | 2,000 | 2,100 | |
Altria Group, Inc. 3.40% 2030 | 800 | 771 | |
Altria Group, Inc. 4.45% 2050 | 650 | 592 | |
Altria Group, Inc. 3.70% 2051 | 3,710 | 3,010 | |
Anheuser-Busch Co. / InBev Worldwide 4.90% 2046 | 90 | 100 | |
Anheuser-Busch InBev NV 4.439% 2048 | 180 | 189 | |
Anheuser-Busch InBev NV 4.60% 2048 | 600 | 650 | |
Anheuser-Busch InBev NV 4.50% 2050 | 690 | 740 | |
B&G Foods, Inc. 5.25% 2025 | 245 | 240 | |
B&G Foods, Inc. 5.25% 2027 | 3,930 | 3,761 | |
British American Tobacco PLC 2.726% 2031 | 2,750 | 2,428 | |
British American Tobacco PLC 4.54% 2047 | 186 | 167 | |
British American Tobacco PLC 4.758% 2049 | 512 | 472 | |
British American Tobacco PLC 3.984% 2050 | 2,800 | 2,277 | |
British American Tobacco PLC 5.65% 2052 | 2,532 | 2,575 | |
Central Garden & Pet Co. 4.125% 2030 | 1,070 | 967 | |
Central Garden & Pet Co. 4.125% 20311 | 5,215 | 4,702 | |
Conagra Brands, Inc. 1.375% 2027 | 35 | 31 | |
Conagra Brands, Inc. 5.30% 2038 | 2 | 2 | |
Constellation Brands, Inc. 2.875% 2030 | 1,040 | 977 | |
Constellation Brands, Inc. 2.25% 2031 | 510 | 450 | |
Darling Ingredients, Inc. 5.25% 20271 | 280 | 286 | |
Edgewell Personal Care Co. 5.50% 20281 | 1,770 | 1,764 | |
Energizer Holdings, Inc. 4.375% 20291 | 3,320 | 2,910 | |
Ingles Markets, Inc. 4.00% 20311 | 3,345 | 3,163 | |
InRetail Consumer 3.25% 20281 | 1,100 | 1,034 | |
Keurig Dr Pepper, Inc. 3.20% 2030 | 30 | 29 | |
Kraft Heinz Company 4.375% 2046 | 1,850 | 1,834 | |
Kraft Heinz Company 5.50% 2050 | 1,500 | 1,711 | |
Kronos Acquisition Holdings, Inc. 5.00% 20261 | 6,070 | 5,612 | |
Kronos Acquisition Holdings, Inc. 7.00% 20271 | 5,550 | 4,701 | |
Lamb Weston Holdings, Inc. 4.125% 20301 | 2,590 | 2,423 | |
MARB BondCo PLC 3.95% 20311 | 2,577 | 2,290 | |
Molson Coors Brewing Co. 4.20% 2046 | 20 | 19 | |
Natura Cosmeticos SA 4.125% 20281 | 3,800 | 3,666 | |
NBM US Holdings, Inc. 6.625% 20291 | 500 | 527 | |
Nestle Skin Health SA, Term Loan B3, (3-month USD-LIBOR + 3.75%) 4.756% 20262,3 | 5,567 | 5,538 | |
PepsiCo, Inc. 1.625% 2030 | 6 | 5 | |
PepsiCo, Inc. 1.40% 2031 | 34 | 30 | |
PepsiCo, Inc. 1.95% 2031 | 1,329 | 1,215 | |
Performance Food Group, Inc. 5.50% 20271 | 790 | 787 | |
Performance Food Group, Inc. 4.25% 20291 | 1,863 | 1,700 | |
Philip Morris International, Inc. 3.375% 2029 | 37 | 37 |
American Funds Multi-Sector Income Fund — Page 19 of 39
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Consumer staples (continued) | Principal amount (000) | Value (000) | |
Philip Morris International, Inc. 1.75% 2030 | $283 | $245 | |
Philip Morris International, Inc. 4.125% 2043 | 12 | 11 | |
Philip Morris International, Inc. 4.25% 2044 | 15 | 15 | |
Post Holdings, Inc. 5.625% 20281 | 320 | 315 | |
Post Holdings, Inc. 5.50% 20291 | 6,180 | 5,956 | |
Post Holdings, Inc. 4.625% 20301 | 4,556 | 4,110 | |
Post Holdings, Inc. 4.50% 20311 | 2,000 | 1,775 | |
Prestige Brands International, Inc. 5.125% 20281 | 2,000 | 1,989 | |
Prestige Brands International, Inc. 3.75% 20311 | 3,660 | 3,274 | |
Procter & Gamble Company 0.55% 2025 | 19 | 18 | |
PT Indofood CBP Sukses Makmur Tbk 3.398% 2031 | 445 | 399 | |
PT Indofood CBP Sukses Makmur Tbk 4.745% 2051 | 560 | 486 | |
Simmons Foods, Inc. 4.625% 20291 | 3,295 | 3,093 | |
US Foods, Inc. 4.625% 20301 | 1,880 | 1,743 | |
101,069 | |||
Real estate 2.61% | |||
American Campus Communities, Inc. 3.30% 2026 | 38 | 38 | |
American Campus Communities, Inc. 2.85% 2030 | 5 | 5 | |
American Campus Communities, Inc. 3.875% 2031 | 175 | 176 | |
American Tower Corp. 2.70% 2031 | 331 | 300 | |
American Tower Corp. 4.05% 2032 | 1,676 | 1,682 | |
Brookfield Property REIT, Inc. 5.75% 20261 | 3,770 | 3,740 | |
Corporacion Inmobiliaria Vesta, SAB de CV, 3.625% 20311 | 3,240 | 2,947 | |
Crown Castle International Corp. 2.50% 2031 | 515 | 460 | |
Equinix, Inc. 1.45% 2026 | 2,260 | 2,076 | |
Equinix, Inc. 2.90% 2026 | 68 | 66 | |
Equinix, Inc. 1.55% 2028 | 105 | 93 | |
Equinix, Inc. 2.00% 2028 | 894 | 807 | |
Equinix, Inc. 3.20% 2029 | 75 | 72 | |
Equinix, Inc. 2.15% 2030 | 4,030 | 3,532 | |
Equinix, Inc. 2.50% 2031 | 1,645 | 1,478 | |
Equinix, Inc. 3.90% 2032 | 1,150 | 1,144 | |
Equinix, Inc. 3.40% 2052 | 819 | 712 | |
Essex Portfolio LP 2.55% 2031 | 1,762 | 1,608 | |
Extra Space Storage, Inc. 2.35% 2032 | 168 | 148 | |
FibraSOMA 4.375% 20311 | 3,933 | 3,294 | |
Howard Hughes Corp. 5.375% 20281 | 1,400 | 1,408 | |
Howard Hughes Corp. 4.125% 20291 | 5,840 | 5,492 | |
Howard Hughes Corp. 4.375% 20311 | 6,450 | 6,072 | |
Iron Mountain, Inc. 5.00% 20281 | 344 | 336 | |
Iron Mountain, Inc. 5.25% 20281 | 1,200 | 1,186 | |
Iron Mountain, Inc. 4.875% 20291 | 7,610 | 7,257 | |
Iron Mountain, Inc. 4.50% 20311 | 860 | 795 | |
Kennedy-Wilson Holdings, Inc. 4.75% 2029 | 5,410 | 5,226 | |
Kennedy-Wilson Holdings, Inc. 4.75% 2030 | 4,240 | 4,040 | |
Kennedy-Wilson Holdings, Inc. 5.00% 2031 | 1,805 | 1,736 | |
Ladder Capital Corp. 4.75% 20291 | 5,500 | 5,194 | |
Medical Properties Trust, Inc. 5.00% 2027 | 90 | 92 | |
Medical Properties Trust, Inc. 3.50% 2031 | 1,965 | 1,828 | |
Park Intermediate Holdings LLC 4.875% 20291 | 8,230 | 7,732 | |
Public Storage 1.95% 2028 | 417 | 387 | |
Realogy Corp. 5.75% 20291 | 2,525 | 2,385 | |
Realogy Corp. 5.25% 20301 | 3,890 | 3,584 |
American Funds Multi-Sector Income Fund — Page 20 of 39
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Real estate (continued) | Principal amount (000) | Value (000) | |
RHP Hotel Properties LP / RHP Finance Corp. 4.50% 20291 | $2,060 | $1,939 | |
RLJ Lodging Trust, LP 4.00% 20291 | 1,380 | 1,278 | |
Sun Communities Operating LP 2.30% 2028 | 198 | 180 | |
Sun Communities Operating LP 2.70% 2031 | 3,382 | 3,057 | |
Westfield Corp., Ltd. 3.50% 20291 | 10 | 10 | |
Xenia Hotels & Resorts, Inc. 4.875% 20291 | 2,120 | 2,062 | |
87,654 | |||
Total corporate bonds, notes & loans | 2,203,036 | ||
Bonds & notes of governments & government agencies outside the U.S. 9.90% | |||
Abu Dhabi (Emirate of) 2.50% 20291 | 1,900 | 1,866 | |
Abu Dhabi (Emirate of) 1.70% 20311 | 7,800 | 7,128 | |
Abu Dhabi (Emirate of) 3.875% 2050 | 3,700 | 3,883 | |
Angola (Republic of) 8.00% 2029 | 9,440 | 9,512 | |
Argentine Republic 1.00% 2029 | 5,233 | 1,801 | |
Argentine Republic 0.50% 2030 (0.75% on 7/9/2023)4 | 22,185 | 7,488 | |
Argentine Republic 1.125% 2035 (1.50% on 7/9/2022)4 | 21,472 | 6,574 | |
Armenia (Republic of) 7.15% 2025 | 200 | 200 | |
Bahrain (Kingdom of) 6.125% 2022 | 250 | 253 | |
Bahrain (Kingdom of) 6.125% 2023 | 1,300 | 1,346 | |
Belarus (Republic of) 6.875% 2023 | 460 | 81 | |
Belarus (Republic of) 5.875% 2026 | 6,100 | 1,003 | |
Chile (Republic of) 3.10% 2041 | 3,600 | 3,176 | |
Chile (Republic of) 4.34% 2042 | 1,815 | 1,867 | |
Colombia (Republic of) 4.50% 2029 | 300 | 291 | |
Colombia (Republic of) 3.25% 2032 | 3,200 | 2,680 | |
Colombia (Republic of) 7.375% 2037 | 300 | 338 | |
Colombia (Republic of) 4.125% 2051 | 400 | 303 | |
Costa Rica (Republic of) 6.125% 20311 | 3,400 | 3,447 | |
Costa Rica (Republic of) 6.125% 2031 | 728 | 738 | |
Costa Rica (Republic of) 7.158% 2045 | 2,000 | 1,993 | |
Cote d’Ivoire (Republic of) 5.75% 20324 | 821 | 808 | |
Development Bank of Mongolia LLC 7.25% 2023 | 3,000 | 3,034 | |
Dominican Republic 5.50% 2025 | 1,400 | 1,450 | |
Dominican Republic 6.875% 2026 | 1,000 | 1,065 | |
Dominican Republic 5.95% 2027 | 1,650 | 1,700 | |
Dominican Republic 4.50% 20301 | 5,789 | 5,326 | |
Dominican Republic 6.00% 20331 | 1,285 | 1,259 | |
Dominican Republic 5.30% 20411 | 412 | 359 | |
Dominican Republic 6.85% 2045 | 1,100 | 1,093 | |
Dominican Republic 5.875% 2060 | 4,900 | 4,214 | |
Dominican Republic 5.875% 20601 | 1,700 | 1,462 | |
Egypt (Arab Republic of) 6.588% 2028 | 2,800 | 2,606 | |
Egypt (Arab Republic of) 6.588% 20281 | 1,200 | 1,117 | |
Egypt (Arab Republic of) 7.60% 2029 | 3,600 | 3,430 | |
Egypt (Arab Republic of) 5.875% 20311 | 6,930 | 5,835 | |
Egypt (Arab Republic of) 7.625% 20321 | 4,200 | 3,816 | |
Egypt (Arab Republic of) 8.15% 2059 | 4,000 | 3,314 | |
Ethiopia (Federal Democratic Republic of) 6.625% 2024 | 4,000 | 2,908 | |
Export-Import Bank of India 3.25% 2030 | 4,100 | 3,891 | |
Gabonese Republic 6.95% 2025 | 1,500 | 1,526 | |
Gabonese Republic 7.00% 20311 | 6,000 | 5,780 | |
Georgia (Republic of) 2.75% 20261 | 2,880 | 2,486 |
American Funds Multi-Sector Income Fund — Page 21 of 39
unaudited
Bonds, notes & other debt instruments (continued) Bonds & notes of governments & government agencies outside the U.S. (continued) | Principal amount (000) | Value (000) | |
Ghana (Republic of) 0% 2025 | $2,000 | $1,312 | |
Ghana (Republic of) 8.125% 2026 | 1,210 | 1,031 | |
Ghana (Republic of) 6.375% 20271 | 4,000 | 3,021 | |
Ghana (Republic of) 6.375% 2027 | 1,890 | 1,427 | |
Ghana (Republic of) 7.75% 20291 | 5,100 | 3,756 | |
Ghana (Republic of) 8.125% 2032 | 3,900 | 2,827 | |
Ghana (Republic of) 8.125% 20321 | 1,500 | 1,087 | |
Ghana (Republic of) 8.95% 2051 | 1,500 | 1,052 | |
Honduras (Republic of) 6.25% 2027 | 1,575 | 1,504 | |
Honduras (Republic of) 5.625% 20301 | 5,175 | 4,709 | |
Hungary (Republic of) 2.125% 20311 | 1,720 | 1,561 | |
Indonesia (Republic of) 6.625% 2037 | 900 | 1,129 | |
Indonesia (Republic of) 5.25% 2042 | 300 | 336 | |
Indonesia (Republic of) 4.625% 2043 | 5,800 | 6,066 | |
Israel (State of) 3.375% 2050 | 2,500 | 2,375 | |
Jordan (Hashemite Kingdom of) 4.95% 20251 | 400 | 400 | |
Jordan (Hashemite Kingdom of) 5.75% 20271 | 2,500 | 2,488 | |
Jordan (Hashemite Kingdom of) 5.85% 20301 | 6,150 | 5,751 | |
Kazakhstan (Republic of) 4.875% 2044 | 3,200 | 3,166 | |
Kenya (Republic of) 6.875% 20241 | 200 | 201 | |
Kenya (Republic of) 7.25% 2028 | 3,100 | 2,997 | |
Kenya (Republic of) 7.25% 20281 | 2,600 | 2,514 | |
Kenya (Republic of) 6.30% 20341 | 2,700 | 2,329 | |
Kenya (Republic of) 8.25% 2048 | 1,200 | 1,071 | |
Mozambique (Republic of) 5.00% 2031 (9.00% on 9/15/2023)4 | 5,260 | 4,543 | |
Oman (Sultanate of) 5.375% 2027 | 9,000 | 9,266 | |
Oman (Sultanate of) 4.875% 20301 | 1,015 | 1,061 | |
Oman (Sultanate of) 6.25% 20311 | 1,000 | 1,061 | |
Pakistan (Islamic Republic of) 5.625% 2022 | 1,300 | 1,260 | |
Pakistan (Islamic Republic of) 8.25% 2024 | 400 | 352 | |
Pakistan (Islamic Republic of) 6.00% 20261 | 3,510 | 2,773 | |
Pakistan (Islamic Republic of) 6.875% 2027 | 3,850 | 3,054 | |
Panama (Republic of) 7.125% 2026 | 200 | 228 | |
Panama (Republic of) 3.16% 2030 | 400 | 392 | |
Panama (Republic of) 4.50% 2050 | 2,400 | 2,376 | |
Panama (Republic of) 4.30% 2053 | 2,800 | 2,698 | |
Panama (Republic of) 3.87% 2060 | 1,200 | 1,054 | |
Panama (Republic of) 4.50% 2063 | 3,545 | 3,414 | |
Paraguay (Republic of) 4.70% 20271 | 400 | 417 | |
Paraguay (Republic of) 4.95% 2031 | 6,150 | 6,450 | |
Peru (Republic of) 4.125% 2027 | 300 | 312 | |
Peru (Republic of) 2.783% 2031 | 2,200 | 2,077 | |
Peru (Republic of) 3.00% 2034 | 990 | 925 | |
Peru (Republic of) 6.55% 2037 | 1,000 | 1,268 | |
Peru (Republic of) 3.55% 2051 | 1,200 | 1,122 | |
Peru (Republic of) 2.78% 2060 | 1,699 | 1,334 | |
Peru (Republic of) 3.23% 2121 | 1,400 | 1,068 | |
PETRONAS Capital, Ltd. 3.50% 2030 | 1,900 | 1,937 | |
PETRONAS Capital, Ltd. 3.50% 20301 | 1,100 | 1,122 | |
PETRONAS Capital, Ltd. 4.55% 20501 | 800 | 886 | |
Philippines (Republic of) 3.00% 2028 | 2,800 | 2,820 | |
Philippines (Republic of) 1.648% 2031 | 1,200 | 1,070 | |
Philippines (Republic of) 3.95% 2040 | 3,600 | 3,574 | |
Philippines (Republic of) 3.70% 2042 | 2,500 | 2,420 | |
Philippines (Republic of) 2.95% 2045 | 7,600 | 6,594 |
American Funds Multi-Sector Income Fund — Page 22 of 39
unaudited
Bonds, notes & other debt instruments (continued) Bonds & notes of governments & government agencies outside the U.S. (continued) | Principal amount (000) | Value (000) | |
Qatar (State of) 3.75% 20301 | $4,700 | $4,970 | |
Qatar (State of) 4.625% 2046 | 1,500 | 1,714 | |
Qatar (State of) 5.103% 2048 | 1,600 | 1,961 | |
Qatar (State of) 4.40% 20501 | 2,500 | 2,816 | |
Republika Srpska 4.75% 2026 | €1,280 | 1,442 | |
Romania 2.00% 2032 | 3,300 | 3,045 | |
Romania 2.00% 2033 | 2,720 | 2,427 | |
Romania 3.50% 2034 | 30 | 30 | |
Romania 3.375% 2038 | 1,500 | 1,439 | |
Romania 5.125% 2048 | $400 | 416 | |
Romania 5.125% 20481 | 300 | 312 | |
Russian Federation 4.75% 2026 | 1,600 | 408 | |
Russian Federation 4.25% 2027 | 6,200 | 1,550 | |
Russian Federation 4.375% 2029 | 1,000 | 200 | |
Russian Federation 5.10% 2035 | 6,400 | 1,248 | |
Russian Federation 5.25% 2047 | 2,000 | 480 | |
Senegal (Republic of) 4.75% 2028 | €1,500 | 1,616 | |
Senegal (Republic of) 4.75% 2028 | 1,000 | 1,078 | |
Serbia (Republic of) 3.125% 2027 | 1,600 | 1,729 | |
Serbia (Republic of) 3.125% 2027 | 800 | 864 | |
South Africa (Republic of) 4.875% 2026 | $2,500 | 2,551 | |
South Africa (Republic of) 4.30% 2028 | 2,200 | 2,132 | |
South Africa (Republic of) 5.875% 2030 | 500 | 524 | |
South Africa (Republic of) 6.30% 2048 | 3,800 | 3,597 | |
Sri Lanka (Democratic Socialist Republic of) 5.75% 2023 | 2,798 | 1,400 | |
Sri Lanka (Democratic Socialist Republic of) 6.125% 2025 | 2,300 | 1,161 | |
Sri Lanka (Democratic Socialist Republic of) 6.85% 2025 | 3,000 | 1,489 | |
Sri Lanka (Democratic Socialist Republic of) 6.20% 2027 | 1,780 | 846 | |
Sri Lanka (Democratic Socialist Republic of) 7.55% 2030 | 600 | 284 | |
Tunisia (Republic of) 6.75% 2023 | €200 | 161 | |
Tunisia (Republic of) 5.75% 2025 | $1,990 | 1,345 | |
Turkey (Republic of) 6.375% 2025 | 1,200 | 1,178 | |
Turkey (Republic of) 7.375% 2025 | 4,400 | 4,467 | |
Turkey (Republic of) 5.125% 20261 | 4,000 | 3,782 | |
Turkey (Republic of) 7.625% 2029 | 2,450 | 2,397 | |
Turkey (Republic of) 5.875% 2031 | 4,050 | 3,470 | |
Turkey (Republic of) 6.50% 2033 | 2,000 | 1,753 | |
Turkey (Republic of) 6.00% 2041 | 200 | 157 | |
Turkey (Republic of) 5.75% 2047 | 4,300 | 3,225 | |
Ukraine 8.994% 2024 | 6,377 | 2,898 | |
Ukraine 7.75% 2026 | 4,500 | 1,958 | |
Ukraine 7.75% 2027 | 200 | 87 | |
Ukraine 9.75% 2028 | 200 | 87 | |
Ukraine 6.876% 20291 | 4,800 | 2,031 | |
Ukraine 7.375% 2032 | 4,500 | 1,910 | |
United Mexican States 3.75% 2028 | 200 | 204 | |
United Mexican States 4.50% 2029 | 4,100 | 4,331 | |
United Mexican States 2.659% 2031 | 649 | 593 | |
United Mexican States 3.50% 2034 | 7,500 | 6,990 | |
United Mexican States 6.75% 2034 | 2,000 | 2,451 | |
United Mexican States 6.05% 2040 | 2,100 | 2,386 | |
United Mexican States 4.75% 2044 | 200 | 197 | |
United Mexican States 5.00% 2051 | 1,200 | 1,216 |
American Funds Multi-Sector Income Fund — Page 23 of 39
unaudited
Bonds, notes & other debt instruments (continued) Bonds & notes of governments & government agencies outside the U.S. (continued) | Principal amount (000) | Value (000) | |
United Mexican States 4.40% 2052 | $550 | $506 | |
United Mexican States 3.75% 2071 | 1,170 | 931 | |
331,925 | |||
Mortgage-backed obligations 9.17% Commercial mortgage-backed securities 4.61% | |||
Banc of America Commercial Mortgage, Inc., Series 2016-UB10, Class C, 4.851% 20493,10 | 2,500 | 2,480 | |
Banc of America Commercial Mortgage, Inc., Series 2017-BNK3, Class A4, 3.574% 205010 | 10 | 10 | |
Bank Commercial Mortgage Trust, Series 2017-BNK9, Class A4, 3.538% 205410 | 10 | 10 | |
Benchmark Mortgage Trust, Series 2018-B2, Class A4, 3.615% 205110 | 25 | 25 | |
Benchmark Mortgage Trust, Series 2018-B3, Class A5, 4.025% 205110 | 10 | 10 | |
Benchmark Mortgage Trust, Series 2018-B4, Class A5, 4.121% 20513,10 | 10 | 10 | |
Benchmark Mortgage Trust, Series 2019-B13, Class A4, 2.952% 205710 | 20 | 19 | |
BX Trust, Series 2021-SDMF, Class B, (1-month USD-LIBOR + 0.738%) 1.135% 20341,3,10 | 3,000 | 2,872 | |
BX Trust, Series 2021-SDMF, Class C, (1-month USD-LIBOR + 0.888%) 1.285% 20341,3,10 | 2,100 | 2,000 | |
BX Trust, Series 2021-SDMF, Class D, (1-month USD-LIBOR + 1.387%) 1.784% 20341,3,10 | 2,000 | 1,923 | |
BX Trust, Series 2021-VOLT, Class A, (1-month USD-LIBOR + 0.70%) 1.097% 20361,3,10 | 1,733 | 1,691 | |
BX Trust, Series 2021-ARIA, Class A, (1-month USD-LIBOR + 0.899%) 1.296% 20361,3,10 | 1,992 | 1,956 | |
BX Trust, Series 2021-VOLT, Class B, (1-month USD-LIBOR + 0.95%) 1.347% 20361,3,10 | 1,696 | 1,662 | |
BX Trust, Series 2021-ARIA, Class B, (1-month USD-LIBOR + 1.297%) 1.694% 20361,3,10 | 1,989 | 1,952 | |
BX Trust, Series 2021-ARIA, Class C, (1-month USD-LIBOR + 1.646%) 2.043% 20361,3,10 | 1,992 | 1,954 | |
BX Trust, Series 2021-ARIA, Class D, (1-month USD-LIBOR + 1.895%) 2.292% 20361,3,10 | 1,380 | 1,352 | |
BX Trust, Series 2021-ACNT, Class A, (1-month USD-LIBOR + 0.85%) 1.247% 20381,3,10 | 2,102 | 2,076 | |
BX Trust, Series 2021-SOAR, Class B, (1-month USD-LIBOR + 0.87%) 1.267% 20381,3,10 | 817 | 799 | |
BX Trust, Series 2021-SOAR, Class C, (1-month USD-LIBOR + 1.10%) 1.497% 20381,3,10 | 737 | 720 | |
BX Trust, Series 2021-ACNT, Class B, (1-month USD-LIBOR + 1.25%) 1.647% 20381,3,10 | 5,988 | 5,904 | |
BX Trust, Series 2021-SOAR, Class D, (1-month USD-LIBOR + 1.40%) 1.797% 20381,3,10 | 9,329 | 9,107 | |
BX Trust, Series 2021-ACNT, Class C, (1-month USD-LIBOR + 1.50%) 1.897% 20381,3,10 | 1,962 | 1,935 | |
BX Trust, Series 2021-ACNT, Class D, (1-month USD-LIBOR + 1.85%) 2.247% 20381,3,10 | 1,682 | 1,656 | |
BX Trust, Series 2022-AHP, Class B, (1-month USD CME Term SOFR + 1.84%) 1.89% 20391,3,10 | 3,000 | 2,959 | |
BX Trust, Series 2022-LP2, Class D, (1-month USD CME Term SOFR + 1.961%) 2.266% 20391,3,10 | 3,000 | 2,941 | |
BX Trust, Series 2022-AHP, Class C, (1-month USD CME Term SOFR + 2.09%) 2.391% 20391,3,10 | 4,000 | 3,952 | |
BXSC Commercial Mortgage Trust, Series 2022-WSS, Class D, (1-month USD CME Term SOFR + 3.188%) 3.438% 20351,3,10 | 2,485 | 2,474 | |
CD Commercial Mortgage Trust, Series 2017-CD6, Class A5, 3.456% 205010 | 10 | 10 | |
Citigroup Commercial Mortgage Trust, Series 2012-GC8, Class B, 4.285% 20451,10 | 500 | 501 | |
Citigroup Commercial Mortgage Trust, Series 2013-GC11, Class B, 3.732% 20463,10 | 893 | 895 | |
Citigroup Commercial Mortgage Trust, Series 2013-GC11, Class C, 4.134% 20463,10 | 2,000 | 2,002 | |
Citigroup Commercial Mortgage Trust, Series 2014-GC25, Class AS, 4.017% 204710 | 438 | 441 | |
Citigroup Commercial Mortgage Trust, Series 2014-GC21, Class AS, 4.026% 204710 | 420 | 424 | |
Citigroup Commercial Mortgage Trust, Series 2014-GC21, Class B, 4.328% 20473,10 | 1,900 | 1,902 | |
Citigroup Commercial Mortgage Trust, Series 2015-GC29, Class C, 4.142% 20483,10 | 2,660 | 2,615 | |
Citigroup Commercial Mortgage Trust, Series 2015-GC27, Class C, 4.422% 20483,10 | 3,656 | 3,558 | |
Citigroup Commercial Mortgage Trust, Series 2015-GC33, Class A3, 3.515% 205810 | 312 | 311 | |
Commercial Mortgage Trust, Series 2012-CR3, Class AM, 3.416% 20451,10 | 500 | 498 | |
Commercial Mortgage Trust, Series 2012-CR2, Class AM, 3.791% 204510 | 85 | 85 | |
Commercial Mortgage Trust, Series 2012-CR2, Class B, 4.393% 204510 | 440 | 441 | |
Commercial Mortgage Trust, Series 2013-CR7, Class AM, 3.314% 20461,10 | 560 | 562 | |
Commercial Mortgage Trust, Series 2013-CR6, Class B, 3.397% 20461,10 | 1,505 | 1,498 | |
Commercial Mortgage Trust, Series 2013-CRE7, Class B, 3.613% 20461,10 | 500 | 502 | |
Commercial Mortgage Trust, Series 2013-LC6, Class B, 3.739% 204610 | 80 | 80 | |
Commercial Mortgage Trust, Series 2013-CR10, Class C, 4.901% 20461,3,10 | 1,309 | 1,319 | |
Commercial Mortgage Trust, Series 2013-LC13, Class B, 5.009% 20461,3,10 | 429 | 435 | |
Commercial Mortgage Trust, Series 2014-UBS4, Class AM, 3.968% 204710 | 108 | 108 | |
Commercial Mortgage Trust, Series 2014-CR19, Class AM, 4.08% 204710 | 500 | 504 |
American Funds Multi-Sector Income Fund — Page 24 of 39
unaudited
Bonds, notes & other debt instruments (continued) Mortgage-backed obligations (continued) Commercial mortgage-backed securities (continued) | Principal amount (000) | Value (000) | |
Commercial Mortgage Trust, Series 2014-UBS6, Class C, 4.444% 20473,10 | $605 | $590 | |
Commercial Mortgage Trust, Series 2014-CR18, Class B, 4.456% 20473,10 | 381 | 383 | |
Commercial Mortgage Trust, Series 2014-LC17, Class B, 4.49% 20473,10 | 950 | 951 | |
Commercial Mortgage Trust, Series 2014-UBS4, Class B, 4.701% 204710 | 1,024 | 1,034 | |
Commercial Mortgage Trust, Series 2014-CR16, Class C, 4.911% 20473,10 | 460 | 456 | |
Commercial Mortgage Trust, Series 2015-CR22, Class B, 3.926% 20483,10 | 14 | 14 | |
Commercial Mortgage Trust, Series 2015-CCRE-26, Class C, 4.478% 20483,10 | 860 | 850 | |
Commercial Mortgage Trust, Series 2015-CR26, Class B, 4.478% 20483,10 | 600 | 606 | |
Commercial Mortgage Trust, Series 2016-COR1, Class A4, 3.091% 204910 | 25 | 25 | |
Commercial Mortgage Trust, Series 2015-PC1, Class AM, 4.29% 20503,10 | 250 | 253 | |
Commercial Mortgage Trust, Series 2013-CR11, Class B, 5.112% 20503,10 | 570 | 581 | |
Commercial Mortgage Trust, Series 2013-CR11, Class C, 5.119% 20501,3,10 | 1,250 | 1,264 | |
Ellington Financial Mortgage Trust, Series 2020-1, Class A1, 2.006% 20651,3,10 | 48 | 47 | |
Extended Stay America Trust, Series 2021-ESH, Class A, (1-month USD-LIBOR + 1.08%) 1.477% 20381,3,10 | 417 | 413 | |
Extended Stay America Trust, Series 2021-ESH, Class B, (1-month USD-LIBOR + 1.38%) 1.777% 20381,3,10 | 381 | 376 | |
Extended Stay America Trust, Series 2021-ESH, Class C, (1-month USD-LIBOR + 1.70%) 2.097% 20381,3,10 | 2,386 | 2,357 | |
Extended Stay America Trust, Series 2021-ESH, Class D, (1-month USD-LIBOR + 2.25%) 2.647% 20381,3,10 | 8,648 | 8,539 | |
FREMF Mortgage Trust, Series 2017-K67, Class B, 3.945% 20491,3,10 | 2,000 | 2,009 | |
Great Wolf Trust, Series 2019-WOLF, Class D, (1-month USD-LIBOR + 1.933%) 2.33% 20361,3,10 | 1,213 | 1,185 | |
GS Mortgage Securities Trust, Series 2018-HULA, Class A, 1.317% 20251,3,10 | 2,287 | 2,261 | |
GS Mortgage Securities Trust, Series 2012-GCJ7, Class C, 5.561% 20453,10 | 80 | 80 | |
GS Mortgage Securities Trust, Series 2013-GC12, Class B, 3.777% 20463,10 | 650 | 651 | |
GS Mortgage Securities Trust, Series 2013-GC16, Class A3, 4.244% 204610 | 87 | 88 | |
GS Mortgage Securities Trust, Series 2020-GS1, Class A2, 3.47% 204810 | 200 | 199 | |
Hilton USA Trust, Series 2016-HHV, Class D, 4.194% 20381,10 | 1,230 | 1,190 | |
JPMBB Commercial Mortgage Securities Trust, Series 2014-C19, Class B, 4.394% 20473,10 | 920 | 909 | |
JPMorgan Chase Commercial Mortgage Securities Trust, Series 2022-OPO, Class C, 3.377% 20391,10 | 2,602 | 2,479 | |
JPMorgan Chase Commercial Mortgage Securities Trust, Series 2022-OPO, Class C, 3.45% 20391,3,10 | 2,092 | 1,958 | |
JPMorgan Chase Commercial Mortgage Securities Trust, Series 2021-410T, Class A, 2.287% 20421,10 | 768 | 710 | |
JPMorgan Chase Commercial Mortgage Securities Trust, Series 2013-LC11, Class B, 3.499% 204610 | 2,000 | 1,987 | |
JPMorgan Chase Commercial Mortgage Securities Trust, Series 2013-C10, Class AS, 3.372% 204710 | 500 | 503 | |
JPMorgan Chase Commercial Mortgage Securities Trust, Series 2013-C10, Class B, 3.674% 20473,10 | 650 | 650 | |
JPMorgan Chase Commercial Mortgage Securities Trust, Series 2013-C10, Class C, 4.096% 20473,10 | 500 | 498 | |
LUXE Commercial Mortgage Trust, Series 2021-TRIP, Class A, (1-month USD-LIBOR + 1.05%) 1.447% 20381,3,10 | 1,374 | 1,353 | |
LUXE Commercial Mortgage Trust, Series 2021-TRIP, Class B, (1-month USD-LIBOR + 1.40%) 1.797% 20381,3,10 | 1,142 | 1,129 | |
MHC Commercial Mortgage Trust, CMO, Series 2021-MHC, Class A, (1-month USD-LIBOR + 0.801%) 1.198% 20261,3,10 | 1,534 | 1,511 | |
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2013-C9, Class B, 3.708% 20463,10 | 923 | 921 | |
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2013-C11, Class A4, 4.152% 20463,10 | 2,876 | 2,893 | |
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2013-C12, Class AS, 4.482% 20463,10 | 500 | 507 | |
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2014-C17, Class A4, 3.443% 204710 | 241 | 240 | |
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2014-C19, Class B, 4.00% 20473,10 | 3,197 | 3,196 | |
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2014-C18, Class AS, 4.11% 20473,10 | 195 | 196 | |
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C20, Class B, 4.16% 204810 | 1,613 | 1,607 | |
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C25, Class B, 4.526% 20483,10 | 74 | 75 | |
Morgan Stanley Capital I Trust, Series 2017-H1, Class A5, 3.53% 205010 | 45 | 45 | |
Motel 6 Trust, Series 2021-MTL6, Class A, (1-month USD-LIBOR + 0.90%) 1.297% 20381,3,10 | 344 | 339 | |
Motel 6 Trust, Series 2021-MTL6, Class B, (1-month USD-LIBOR + 1.20%) 1.597% 20381,3,10 | 1,321 | 1,300 | |
Motel 6 Trust, Series 2021-MTL6, Class C, (1-month USD-LIBOR + 1.50%) 1.897% 20381,3,10 | 396 | 389 | |
Multi Family Connecticut Avenue Securities, Series 2019-1, Class M10, (1-month USD-LIBOR + 3.25%) 3.707% 20491,3,10 | 425 | 403 |
American Funds Multi-Sector Income Fund — Page 25 of 39
unaudited
Bonds, notes & other debt instruments (continued) Mortgage-backed obligations (continued) Commercial mortgage-backed securities (continued) | Principal amount (000) | Value (000) | |
Multi Family Connecticut Avenue Securities, Series 2020-1, Class M10, (1-month USD-LIBOR + 3.75%) 4.207% 20501,3,10 | $400 | $386 | |
SREIT Trust, Series 2021-FLWR, Class A, (1-month USD-LIBOR + 0.577%) 0.973% 20361,3,10 | 1,558 | 1,514 | |
SREIT Trust, Series 2021-FLWR, Class B, (1-month USD-LIBOR + 0.926%) 1.322% 20361,3,10 | 2,000 | 1,943 | |
SREIT Trust, Series 2021-MFP, Class A, (1-month USD-LIBOR + 0.731%) 1.127% 20381,3,10 | 1,442 | 1,414 | |
SREIT Trust, Series 2021-MFP, Class B, (1-month USD-LIBOR + 1.079%) 1.476% 20381,3,10 | 1,545 | 1,512 | |
SREIT Trust, Series 2021-MFP, Class C, (1-month USD-LIBOR + 1.329%) 1.726% 20381,3,10 | 2,077 | 2,025 | |
Storagemart Commercial Mortgage Trust, Series 2022-MINI, Class D, 2.252% 20271,3,10 | 5,000 | 4,922 | |
Wells Fargo Commercial Mortgage Trust, Series 2012-LC5, Class C, 4.693% 20453,10 | 240 | 241 | |
Wells Fargo Commercial Mortgage Trust, Series 2012-LC5, Class D, 4.747% 20451,3,10 | 44 | 44 | |
Wells Fargo Commercial Mortgage Trust, Series 2015-NXS1, Class C, 3.848% 20483,10 | 1,000 | 978 | |
Wells Fargo Commercial Mortgage Trust, Series 2015-C28, Class C, 4.084% 20483,10 | 500 | 492 | |
Wells Fargo Commercial Mortgage Trust, Series 2016-C34, Class A4, 3.096% 204910 | 25 | 25 | |
Wells Fargo Commercial Mortgage Trust, Series 2017-C40, Class C, 4.323% 20503,10 | 2,154 | 2,076 | |
Wells Fargo Commercial Mortgage Trust, Series 2015-NXS3, Class D, 3.153% 20571,10 | 3,561 | 3,255 | |
Wells Fargo Commercial Mortgage Trust, Series 2015-NXS3, Class B, 4.505% 20573,10 | 4,100 | 4,153 | |
Wells Fargo Commercial Mortgage Trust, Series 2015-LC22, Class C, 4.558% 20583,10 | 110 | 107 | |
WF-RBS Commercial Mortgage Trust, Series 2012-C10, Class AS, 3.241% 204510 | 740 | 738 | |
WF-RBS Commercial Mortgage Trust, Series 2012-C8, Class B, 4.311% 204510 | 705 | 704 | |
WF-RBS Commercial Mortgage Trust, Series 2013-C16, Class B, 5.001% 20463,10 | 1,251 | 1,257 | |
WF-RBS Commercial Mortgage Trust, Series 2014-C19, Class AS, 4.271% 204710 | 417 | 420 | |
WF-RBS Commercial Mortgage Trust, Series 2014-C19, Class B, 4.723% 20473,10 | 512 | 511 | |
WF-RBS Commercial Mortgage Trust, Series 2013-C12, Class B, 3.863% 20483,10 | 500 | 501 | |
WF-RBS Commercial Mortgage Trust, Series 2014-C22, Class AS, 4.069% 20573,10 | 100 | 101 | |
154,659 | |||
Collateralized mortgage-backed obligations (privately originated) 4.51% | |||
Angel Oak Mortgage Trust, Series 2019-2, Class A1, 3.628% 20491,3,10 | 78 | 78 | |
Bellemeade Re, Ltd., Series 2019-3A, Class M1B, (1-month USD-LIBOR + 1.60%) 2.057% 20291,3,10 | 462 | 462 | |
Binom Securitization Trust, Series 2022-RPL1, Class A1, 3.00% 20611,3,10 | 1,356 | 1,338 | |
BRAVO Residential Funding Trust, Series 2020-RPL2, Class A1, 2.00% 20591,3,10 | 223 | 212 | |
BRAVO Residential Funding Trust, Series 2022-RPL1, Class A1, 2.75% 20611,10 | 1,775 | 1,724 | |
BRAVO Residential Funding Trust, Series 2022-R1, Class A, 3.125% 2070 (6.125% on 1/29/2025)1,4,10 | 11,595 | 11,156 | |
Cascade Funding Mortgage Trust, Series 2020-HB4, Class M3, 2.72% 20301,3,10 | 225 | 217 | |
Cascade Funding Mortgage Trust, Series 2021-HB5, Class A, 0.801% 20311,3,10 | 211 | 208 | |
Cascade Funding Mortgage Trust, Series 2021-HB7, Class A, 1.151% 20311,3,10 | 885 | 873 | |
Cascade Funding Mortgage Trust, Series 2021-HB7, Class M1, 2.125% 20311,3,10 | 1,296 | 1,252 | |
Cascade Funding Mortgage Trust, Series 2021-HB6, Class A, 0.898% 20361,3,10 | 1,083 | 1,073 | |
Cascade Funding Mortgage Trust, Series 2018-RM2, Class A, 4.00% 20681,3,10 | 1,076 | 1,079 | |
Cascade Funding Mortgage Trust, Series 2018-RM2, Class B, 4.00% 20681,3,10 | 969 | 964 | |
Cascade Funding Mortgage Trust, Series 2018-RM2, Class C, 4.00% 20681,3,10 | 712 | 705 | |
Cascade Funding Mortgage Trust, Series 2018-RM2, Class D, 4.00% 20681,3,10 | 712 | 696 | |
CFCRE Commercial Mortgage Trust, Series 2016-C7, Class A2, 3.585% 205410 | 193 | 193 | |
Citigroup Mortgage Loan Trust, Inc., Series 2020-EXP1, Class A1A, 1.804% 20601,3,10 | 57 | 57 | |
COLT Funding, LLC, Series 2021-5, Class A1, 1.726% 20661,3,10 | 1,198 | 1,155 | |
COLT Funding, LLC, Series 2021-5, Class A2, 2.606% 20661,3,10 | 2,331 | 2,180 | |
Connecticut Avenue Securities, Series 2021-R01, Class 1M1, (30-day Average USD-SOFR + 0.75%) 0.849% 20411,3,10 | 945 | 938 | |
Credit Suisse Mortgage Trust, Series 2020-NET, Class A, 2.257% 20371,10 | 111 | 105 | |
Credit Suisse Mortgage Trust, Series 2017-RPL3, Class A1, 2.00% 20601,3,10 | 610 | 594 | |
Finance of America HECM Buyout, Series 2020-HB2, Class M3, 4.57% 20301,3,10 | 225 | 219 | |
Flagstar Mortgage Trust, Series 2021-10INV, Class A3, 2.50% 20511,3,10 | 810 | 751 | |
Freddie Mac, Series 2020-DNA1, Class M2, (1-month USD-LIBOR + 1.70%) 2.157% 20501,3,10 | 3,335 | 3,333 | |
Freddie Mac, Series 2020-DNA3, Class B1, (1-month USD-LIBOR + 5.10%) 5.557% 20501,3,10 | 5,835 | 6,049 |
American Funds Multi-Sector Income Fund — Page 26 of 39
unaudited
Bonds, notes & other debt instruments (continued) Mortgage-backed obligations (continued) Collateralized mortgage-backed obligations (privately originated) (continued) | Principal amount (000) | Value (000) | |
Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2021-DNA5, Class M1, (30-day Average USD-SOFR + 0.65%) 0.749% 20341,3,10 | $374 | $373 | |
Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2021-DNA5, Class M2, (30-day Average USD-SOFR + 1.65%) 1.749% 20341,3,10 | 826 | 813 | |
Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2021-DNA6, Class M1, (30-day Average USD-SOFR + 0.80%) 0.899% 20411,3,10 | 2,468 | 2,442 | |
Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-DNA6, Class M2, (30-day Average USD-SOFR + 2.00%) 2.099% 20501,3,10 | 5,000 | 4,941 | |
Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-DNA2, Class M2, (1-month USD-LIBOR + 1.85%) 2.307% 20501,3,10 | 5,268 | 5,259 | |
Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-DNA5, Class M2, (30-day Average USD-SOFR + 2.80%) 2.899% 20501,3,10 | 2,182 | 2,188 | |
GCAT, Series 2021-NQM6, Class A1, 1.855% 20661,3,10 | 1,609 | 1,557 | |
Home Partners of America Trust, Series 2021-2, Class A, 1.901% 20261,10 | 2,222 | 2,086 | |
Home Partners of America Trust, Series 2021-2, Class B, 2.302% 20261,10 | 2,980 | 2,742 | |
Hundred Acre Wood Trust, Series 2021-INV1, Class A9, 2.50% 20511,3,10 | 2,795 | 2,683 | |
Hundred Acre Wood Trust, Series 2021-INV1, Class A27, 2.50% 20511,3,10 | 2,715 | 2,489 | |
Imperial Fund, LLC, Series 2021-NQM4, Class A1, 2.091% 20571,3,10 | 2,018 | 1,911 | |
JPMorgan Mortgage Trust, Series 2018-3, Class A1, 3.50% 20481,3,10 | 236 | 235 | |
JPMorgan Mortgage Trust, Series 2020-1, Class A15, 3.50% 20501,3,10 | 923 | 896 | |
Legacy Mortgage Asset Trust, Series 2019-GS7, Class A1, 3.25% 20591,3,10 | 236 | 235 | |
Legacy Mortgage Asset Trust, Series 2020-GS4, Class A1, 3.25% 20601,3,10 | 297 | 294 | |
Legacy Mortgage Asset Trust, Series 2021-GS2, Class A1, 1.75% 20611,3,10 | 948 | 908 | |
Legacy Mortgage Asset Trust, Series 2021-GS5, Class A1, 2.25% 2067 (5.25% on 11/25/2024)1,4,10 | 2,985 | 2,856 | |
Mello Mortgage Capital Acceptance, Series 2021-INV1, Class A4, 2.50% 20511,3,10 | 434 | 417 | |
Mello Warehouse Securitization Trust, Series 2021-3, Class A, (1-month USD-LIBOR + 0.85%) 1.307% 20551,3,10 | 1,616 | 1,603 | |
Metlife Securitization Trust, Series 2018-1A, Class A, 3.75% 20571,3,10 | 683 | 686 | |
MFRA Trust, Series 2020-NQM1, Class A1, 1.479% 20651,3,10 | 76 | 75 | |
Mill City Mortgage Trust, Series 2018-2, Class M3, 3.75% 20581,3,10 | 1,648 | 1,606 | |
Mill City Mortgage Trust, Series 2019-GS2, Class A1, 2.75% 20591,3,10 | 1,574 | 1,560 | |
MRA Issuance Trust, Series 2020-10, Class A3, (1-month USD-LIBOR + 1.30%) 1.531% 20221,3,10 | 1,775 | 1,774 | |
MRA Issuance Trust, Series 2021-16, Class A1, (1-month USD-LIBOR + 1.55%) 1.426% 20511,3,10 | 5,230 | 5,231 | |
New Residential Mortgage Loan Trust, Series 2018-1A, Class A1A, 4.00% 20571,3,10 | 57 | 57 | |
New Residential Mortgage Loan Trust, Series 2019-2A, Class A1, 4.25% 20571,3,10 | 161 | 163 | |
New Residential Mortgage Loan Trust, Series 2018-5A, Class A1, 4.75% 20571,3,10 | 133 | 135 | |
NewRez Warehouse Securitization Trust, Series 2021-1, Class A, (1-month USD-LIBOR + 0.75%) 1.207% 20551,3,10 | 2,250 | 2,239 | |
One Market Plaza Trust, Series 2017-1MKT, Class C, 4.016% 20321,10 | 3,000 | 2,982 | |
PRKCM Trust, Series 2021-AFC2, Class A1, 2.071% 20561,3,10 | 2,901 | 2,753 | |
Progress Residential Trust, Series 2019-SFR3, Class A, 2.271% 20361,10 | 397 | 386 | |
Progress Residential Trust, Series 2020-SFR2, Class A, 2.078% 20371,10 | 100 | 96 | |
Reverse Mortgage Investment Trust, Series 2021-HB1, Class A, 1.259% 20311,3,10 | 1,095 | 1,059 | |
RMF Proprietary Issuance Trust, Series 2019-1, Class A, 2.75% 20631,3,10 | 83 | 82 | |
Sequoia Mortgage Trust, Series 2013-2, Class A, 1.874% 20433,10 | 45 | 43 | |
Sequoia Mortgage Trust, Series 2018-CH1, Class A2, 3.50% 20481,3,10 | 80 | 80 | |
Starwood Mortgage Residential Trust, Series 2020-2, Class A1, 2.718% 20601,3,10 | 9 | 9 | |
Towd Point Mortgage Trust, Series 2015-3, Class B1, 4.198% 20541,3,10 | 2,504 | 2,521 | |
Towd Point Mortgage Trust, Series 2017-6, Class M2, 3.25% 20571,3,10 | 3,741 | 3,609 | |
Towd Point Mortgage Trust, Series 2017-2, Class B2, 4.078% 20571,3,10 | 2,400 | 2,405 | |
Towd Point Mortgage Trust, Series 2018-4, Class A1, 3.00% 20581,3,10 | 149 | 147 | |
Towd Point Mortgage Trust, Series 2018-1, Class A2, 3.25% 20581,3,10 | 2,477 | 2,423 | |
Towd Point Mortgage Trust, Series 2018-5, Class A1A, 3.25% 20581,3,10 | 343 | 345 | |
Towd Point Mortgage Trust, Series 2019-4, Class M1B, 3.00% 20591,3,10 | 3,000 | 2,779 | |
Treehouse Park Improvement Association No.1 - Anleihen 9.75% 20331,8,9 | 22,184 | 20,709 |
American Funds Multi-Sector Income Fund — Page 27 of 39
unaudited
Bonds, notes & other debt instruments (continued) Mortgage-backed obligations (continued) Collateralized mortgage-backed obligations (privately originated) (continued) | Principal amount (000) | Value (000) | |
Tricon Residential, Series 2021-SFR1, Class A, 1.943% 20381,10 | $2,347 | $2,209 | |
Tricon Residential, Series 2021-SFR1, Class B, 2.244% 20381,10 | 1,750 | 1,637 | |
Verus Securitization Trust, Series 2020-2, Class A1, 2.226% 20601,3,10 | 94 | 93 | |
Verus Securitization Trust, Series 2021-7, Class A1, 1.829% 20661,3,10 | 4,612 | 4,377 | |
VM Fund I, LLC 8.625% 20281,8,9 | 8,564 | 8,435 | |
ZH Trust, Series 2021-1, Class A, 2.253% 20271,10 | 2,958 | 2,937 | |
ZH Trust, Series 2021-2, Class A, 2.349% 20271,10 | 1,133 | 1,131 | |
151,312 | |||
Federal agency mortgage-backed obligations 0.05% | |||
Commercial Mortgage Trust, Series 2013-CR6, Class C, 3.777% 20461,3,10 | 1,310 | 1,306 | |
JPMorgan Structured Financing Trust, Series 2021-EBO1, Class A, (1-month USD-LIBOR + 1.00%) 1.209% 20221,3,8,9,10 | 252 | 252 | |
1,558 | |||
Total mortgage-backed obligations | 307,529 | ||
Asset-backed obligations 8.52% | |||
Aesop Funding LLC, Series 2017-1A, Class A, 3.07% 20231,10 | 388 | 389 | |
Aesop Funding LLC, Series 2017-1A, Class B, 3.41% 20231,10 | 200 | 201 | |
Aesop Funding LLC, Series 2017-2A, Class A, 2.97% 20241,10 | 200 | 201 | |
Aesop Funding LLC, Series 2019-2A, Class A, 3.35% 20251,10 | 750 | 753 | |
Aesop Funding LLC, Series 2018-2A, Class A, 4.00% 20251,10 | 1,850 | 1,881 | |
Aesop Funding LLC, Series 2020-1A, Class A, 2.33% 20261,10 | 676 | 657 | |
Aesop Funding LLC, Series 2019-3A, Class A, 2.36% 20261,10 | 200 | 195 | |
Aesop Funding LLC, Series 2020-1A, Class D, 3.34% 20261,10 | 10,000 | 9,163 | |
Aesop Funding LLC, Series 2021-1A, Class A, 1.38% 20271,10 | 4,306 | 3,999 | |
Aesop Funding LLC, Series 2021-1A, Class B, 1.63% 20271,10 | 1,062 | 971 | |
Aesop Funding LLC, Series 2020-2, Class A, 2.02% 20271,10 | 250 | 237 | |
Aesop Funding LLC, Series 2021-1A, Class C, 2.13% 20271,10 | 551 | 503 | |
Aesop Funding LLC, Series 2020-2A, Class B, 2.96% 20271,10 | 100 | 97 | |
Aesop Funding LLC, Series 2021-1A, Class D, 3.71% 20271,10 | 8,000 | 7,441 | |
Aesop Funding LLC, Series 2020-2A, Class C, 4.25% 20271,10 | 6,550 | 6,538 | |
Affirm Asset Securitization Trust, Series 2021-A, Class A, 0.88% 20251,10 | 577 | 574 | |
Affirm Asset Securitization Trust, Series 2020-A, Class A, 2.10% 20251,10 | 110 | 110 | |
Affirm Asset Securitization Trust, Series 2021-B, Class A, 1.03% 20261,10 | 2,597 | 2,483 | |
Allegro CLO, Ltd., Series 2016-1A, Class AR2, (3-month USD-LIBOR + 0.95%) 1.191% 20301,3,10 | 3,069 | 3,066 | |
Allegro CLO, Ltd., Series 2017-1A, Class AR, (3-month USD-LIBOR + 0.95%) 1.191% 20301,3,10 | 477 | 473 | |
American Credit Acceptance Receivables Trust, Series 2020-3, Class C, 1.85% 20261,10 | 100 | 100 | |
American Credit Acceptance Receivables Trust, Series 2021-1, Class C, 0.83% 20271,10 | 100 | 98 | |
American Credit Acceptance Receivables Trust, Series 2021-1, Class D, 1.14% 20271,10 | 100 | 96 | |
American Credit Acceptance Receivables Trust, Series 2022-1, Class C, 2.12% 20281,10 | 2,000 | 1,934 | |
American Credit Acceptance Receivables Trust, Series 2022-1, Class D, 2.46% 20281,10 | 2,000 | 1,893 | |
American Credit Acceptance Receivables Trust, Series 2022-1, Class E, 3.64% 20281,10 | 1,236 | 1,159 | |
Ares CLO, Ltd., Series 2017-42A, Class AR, (3-month USD-LIBOR + 0.92%) 1.179% 20281,3,10 | 3,317 | 3,311 | |
Ballyrock CLO, Ltd., Series 2019-2A, Class A1AR, (3-month USD-LIBOR + 1.00%) 1.48% 20301,3,10 | 1,290 | 1,281 | |
Bankers Healthcare Group Securitization Trust, Series 2020-A, Class A, 2.56% 20311,10 | 208 | 208 | |
Bankers Healthcare Group Securitization Trust, Series 2020-A, Class B, 3.59% 20311,10 | 300 | 295 | |
Bankers Healthcare Group Securitization Trust, Series 2020-A, Class C, 5.17% 20311,10 | 300 | 296 | |
Bankers Healthcare Group Securitization Trust, Series 2021-A, Class A, 1.42% 20331,10 | 747 | 712 | |
Bankers Healthcare Group Securitization Trust, Series 2021-A, Class B, 2.79% 20331,10 | 4,733 | 4,439 | |
Bankers Healthcare Group Securitization Trust, Series 2021-A, Class C, 3.69% 20331,10 | 1,420 | 1,337 | |
Bankers Healthcare Group Securitization Trust, Series 2021-B, Class A, 0.90% 20341,10 | 734 | 715 | |
Bankers Healthcare Group Securitization Trust, Series 2022-A, Class A, 1.71% 20351,10 | 4,505 | 4,438 |
American Funds Multi-Sector Income Fund — Page 28 of 39
unaudited
Bonds, notes & other debt instruments (continued) Asset-backed obligations (continued) | Principal amount (000) | Value (000) | |
Bankers Healthcare Group Securitization Trust, Series 2022-A, Class B, 2.70% 20351,10 | $5,000 | $4,828 | |
Blackbird Capital II Aircraft Lease, Ltd. / Blackbird Capital II Aircraft Lease US, LLC, Series 2021-1, Class A, 2.443% 20461,10 | 2,551 | 2,336 | |
Blackbird Capital II Aircraft Lease, Ltd. / Blackbird Capital II Aircraft Lease US, LLC, Series 2021-1, Class B, 3.446% 20461,10 | 772 | 642 | |
Carvana Auto Receivables Trust, Series 2021-N4, Class C, 1.72% 202810 | 757 | 736 | |
Castlelake Aircraft Securitization Trust, Series 2021-1, Class A, 2.868% 20371,10 | 2,647 | 2,435 | |
Castlelake Aircraft Securitization Trust, Series 2017-1R, Class A, 2.741% 20411,10 | 760 | 672 | |
Cent CLO, Ltd., Series 2014-21A, Class AR, (3-month USD-LIBOR + 0.97%) 1.238% 20301,3,10 | 1,418 | 1,411 | |
CF Hippolyta LLC, Series 2020-1, Class A1, 1.69% 20601,10 | 1,574 | 1,488 | |
CF Hippolyta LLC, Series 2020-1, Class A2, 1.99% 20601,10 | 724 | 666 | |
CF Hippolyta LLC, Series 2020-1, Class B1, 2.28% 20601,10 | 932 | 880 | |
CF Hippolyta LLC, Series 2020-1, Class B2, 2.60% 20601,10 | 92 | 85 | |
CF Hippolyta LLC, Series 2021-1, Class A1, 1.53% 20611,10 | 1,065 | 990 | |
CFG Investments, Ltd., Series 2021-1, Class B, 5.82% 20321,10 | 3,000 | 2,946 | |
CIFC Funding, Ltd., CLO, Series 2017-1A, Class B, (3-month USD-LIBOR + 1.70%) 1.955% 20291,3,10 | 1,750 | 1,743 | |
CLI Funding V LLC, Series 2020-2A, Class B, 3.56% 20451,10 | 237 | 231 | |
CLI Funding V LLC, Series 2020-1A, Class B, 3.62% 20451,10 | 305 | 297 | |
CLI Funding VI, LLC, Series 2020-2A, Class A, 2.03% 20451,10 | 998 | 939 | |
CLI Funding VI, LLC, Series 2020-1A, Class A, 2.08% 20451,10 | 213 | 200 | |
CPS Auto Receivables Trust, Series 2021-A, Class C, 0.83% 20261,10 | 176 | 173 | |
CPS Auto Receivables Trust, Series 2020-B, Class C, 3.30% 20261,10 | 128 | 128 | |
CPS Auto Receivables Trust, Series 2020-B, Class D, 4.75% 20261,10 | 100 | 101 | |
CPS Auto Receivables Trust, Series 2021-B, Class C, 1.23% 20271,10 | 2,250 | 2,185 | |
CPS Auto Receivables Trust, Series 2021-B, Class D, 1.52% 20271,10 | 2,000 | 1,905 | |
Credit Acceptance Auto Loan Trust, Series 2021-3A, Class B, 1.38% 20301,10 | 2,000 | 1,897 | |
Credit Acceptance Auto Loan Trust, Series 2021-3A, Class C, 1.63% 20301,10 | 3,000 | 2,832 | |
Drive Auto Receivables Trust, Series 2020-2, Class D, 3.05% 202810 | 200 | 201 | |
Drivetime Auto Owner Trust, Series 2021-1A, Class C, 0.84% 20261,10 | 100 | 97 | |
Drivetime Auto Owner Trust, Series 2021-1A, Class D, 1.16% 20261,10 | 100 | 95 | |
Drivetime Auto Owner Trust, Series 2020-2A, Class D, 4.73% 20261,10 | 850 | 864 | |
Drivetime Auto Owner Trust, Series 2021-3A, Class C, 0.87% 20271,10 | 2,000 | 1,907 | |
Drivetime Auto Owner Trust, Series 2021-2A, Class C, 1.10% 20271,10 | 616 | 594 | |
Drivetime Auto Owner Trust, Series 2021-3A, Class D, 1.31% 20271,10 | 2,000 | 1,858 | |
Drivetime Auto Owner Trust, Series 2021-2A, Class D, 1.50% 20271,10 | 277 | 262 | |
Dryden Senior Loan Fund, Series 2017-47A, Class A1R, CLO, (3-month USD-LIBOR + 0.98%) 1.221% 20281,3,10 | 2,000 | 1,996 | |
Dryden Senior Loan Fund, Series 2017-47A, Class A2R, CLO, (3-month USD-LIBOR + 1.27%) 1.511% 20281,3,10 | 2,000 | 1,993 | |
Dryden Senior Loan Fund, Series 2017-47A, Class BR, CLO, (3-month USD-LIBOR + 1.47%) 1.711% 20281,3,10 | 2,000 | 1,994 | |
Dryden Senior Loan Fund, Series 2017-47A, Class CR, CLO, (3-month USD-LIBOR + 2.05%) 2.291% 20281,3,10 | 2,000 | 1,995 | |
Dryden Senior Loan Fund, Series 2013-28A, Class A2LR, CLO, (3-month USD-LIBOR + 1.65%) 2.156% 20301,3,10 | 3,000 | 2,993 | |
EDvestinU Private Education Loan LLC, Series 2021-A, Class A, 1.80% 20451,10 | 164 | 152 | |
Exeter Automobile Receivables Trust, Series 2020-2A, Class C, 3.28% 20251,10 | 100 | 100 | |
Exeter Automobile Receivables Trust, Series 2020-2, Class D, 4.73% 20261,10 | 100 | 102 | |
First Investors Auto Owner Trust, Series 2021-1A, Class B, 0.89% 20271,10 | 300 | 291 | |
First Investors Auto Owner Trust, Series 2021-1A, Class D, 1.62% 20271,10 | 300 | 286 | |
Freedom Financial, Series 2022-1FP, Class A, 0.94% 20291,10 | 908 | 902 | |
Freedom Financial, Series 2022-1FP, Class B, 1.91% 20291,10 | 2,462 | 2,402 | |
GCI Funding I LLC, Series 2020-1, Class A, 2.82% 20451,10 | 378 | 362 | |
GCI Funding I LLC, Series 2020-1, Class B, 3.81% 20451,10 | 134 | 128 | |
GCI Funding I LLC, Series 2021-1, Class A, 2.38% 20461,10 | 757 | 706 | |
GCI Funding I LLC, Series 2021-1, Class B, 3.04% 20461,10 | 2,790 | 2,590 | |
Global SC Finance SRL, Series 2021-1A, Class B, 2.76% 20411,10 | 1,796 | 1,689 | |
Global SC Finance V SRL, Series 2019-1A, Class B, 4.81% 20391,10 | 371 | 374 | |
Global SC Finance V SRL, Series 2020-1A, Class A, 2.17% 20401,10 | 317 | 301 | |
Global SC Finance V SRL, Series 2020-1A, Class B, 3.55% 20401,10 | 417 | 407 |
American Funds Multi-Sector Income Fund — Page 29 of 39
unaudited
Bonds, notes & other debt instruments (continued) Asset-backed obligations (continued) | Principal amount (000) | Value (000) | |
Global SC Finance VII SRL, Series 2020-2A, Class A, 2.26% 20401,10 | $339 | $324 | |
Global SC Finance VII SRL, Series 2021-1A, Class A, 1.86% 20411,10 | 1,796 | 1,653 | |
Global SC Finance VII SRL, Series 2021-2A, Class A, 1.95% 20411,10 | 4,686 | 4,382 | |
Global SC Finance VII SRL, Series 2021-2A, Class B, 2.49% 20411,10 | 742 | 688 | |
GSAMP Trust, Series 2005-SD2, Class M3, (1-month USD-LIBOR + 1.35%) 1.807% 20351,3,10 | 951 | 950 | |
Hertz Vehicle Financing III, LLC, Series 2021-A, Class B, 3.65% 20231,8,9,10 | 7,110 | 6,927 | |
Hertz Vehicle Financing III, LLC, Series 2021-1A, Class B, 1.56% 20251,10 | 1,220 | 1,157 | |
Hertz Vehicle Financing III, LLC, Series 2021-1A, Class C, 2.05% 20251,10 | 2,336 | 2,203 | |
Hertz Vehicle Financing, LLC, Series 2022-1A, Class A, 1.99% 20261,10 | 2,457 | 2,361 | |
Hertz Vehicle Financing, LLC, Series 2022-1A, Class B, 2.19% 20261,10 | 1,776 | 1,695 | |
Hertz Vehicle Financing III, LLC, Series 2021-2A, Class A, 1.68% 20271,10 | 3,524 | 3,221 | |
Hertz Vehicle Financing III, LLC, Series 2021-2A, Class B, 2.12% 20271,10 | 1,317 | 1,202 | |
Hertz Vehicle Financing III, LLC, Series 2021-2A, Class C, 2.52% 20271,10 | 826 | 751 | |
Hertz Vehicle Financing, LLC, Series 2022-1A, Class C, 2.63% 20261,10 | 3,492 | 3,319 | |
Hertz Vehicle Financing, LLC, Series 2022-2A, Class C, 2.95% 20281,10 | 4,025 | 3,693 | |
LAD Auto Receivables Trust, Series 2021-1A, Class B, 1.94% 20261,10 | 751 | 720 | |
LAD Auto Receivables Trust, Series 2021-1A, Class C, 2.35% 20271,10 | 3,000 | 2,861 | |
Longfellow Place CLO, Ltd., Series 2013-1A, Class AR3, (3-month USD-LIBOR + 1.00%) 1.241% 20291,3,10 | 2,057 | 2,051 | |
Madison Park Funding, Ltd., CLO, Series 2015-17A, Class AR2, (3-month USD-LIBOR + 1.00%) 1.255% 20301,3,10 | 2,000 | 1,992 | |
Marathon CLO, Ltd., Series 2017-9A, Class A1AR, (3-month USD-LIBOR + 1.15%) 1.391% 20291,3,10 | 1,617 | 1,613 | |
Mercury Financial Credit Card Master Trust, Series 2021-1A, Class A, 1.54% 20261,10 | 1,500 | 1,456 | |
Mission Lane Credit Card Master Trust, Series 2021-A, Class A, 1.59% 20261,10 | 1,140 | 1,112 | |
Navient Student Loan Trust, Series 2021-FA, Class A, 1.11% 20701,10 | 3,436 | 3,206 | |
Navigator Aircraft ABS, Ltd., Series 2021-1, Class A, 2.771% 20461,10 | 4,026 | 3,717 | |
Navigator Aircraft ABS, Ltd., Series 2021-1, Class B, 3.571% 20461,10 | 914 | 785 | |
Nelnet Student Loan Trust, Series 2021-C, Class AFX, 1.32% 20621,10 | 3,577 | 3,364 | |
Nelnet Student Loan Trust, Series 2021-A, Class APT1, 1.36% 20621,10 | 3,206 | 3,007 | |
Nelnet Student Loan Trust, Series 2021-B, Class AFX, 1.42% 20621,10 | 2,689 | 2,517 | |
Nelnet Student Loan Trust, Series 2021-CA, Class C, 3.36% 20621,10 | 1,328 | 1,254 | |
Nelnet Student Loan Trust, Series 2021-CA, Class D, 4.44% 20621,10 | 1,889 | 1,801 | |
New Economy Assets Phase 1 Issuer, LLC, Series 2021-1, Class A1, 1.91% 20611,10 | 14,898 | 13,907 | |
New Economy Assets Phase 1 Issuer, LLC, Series 2021-1, Class B1, 2.41% 20611,10 | 3,000 | 2,834 | |
Newark BSL CLO 2, Ltd., Series 2017-1A, Class A1R, (3-month USD-LIBOR + 0.97%) 1.228% 20301,3,10 | 640 | 636 | |
OCP CLO, Ltd., Series 2016-11A, Class A2R, (3-month USD-LIBOR + 1.75%) 2.017% 20301,3,10 | 1,000 | 993 | |
OnDeck Asset Securitization Trust, LLC, Series 2021-1A, Class A, 1.59% 20271,10 | 2,475 | 2,351 | |
OnDeck Asset Securitization Trust, LLC, Series 2021-1A, Class B, 2.28% 20271,10 | 1,167 | 1,101 | |
OnDeck Asset Securitization Trust, LLC, Series 2021-1A, Class C, 2.97% 20271,10 | 1,150 | 1,087 | |
OnDeck Asset Securitization Trust, LLC, Series 2021-1A, Class D, 4.94% 20271,10 | 1,150 | 1,093 | |
Oportun Funding LLC, Series 2021-A, Class A, 1.21% 20281,10 | 2,722 | 2,644 | |
Oportun Funding LLC, Series 2021-B, Class A, 1.47% 20311,10 | 1,727 | 1,632 | |
Oportun Funding LLC, Series 2021-B, Class B, 1.96% 20311,10 | 2,958 | 2,819 | |
Oportun Funding LLC, Series 2021-B, Class C, 3.65% 20311,10 | 2,525 | 2,458 | |
Oportun Funding LLC, Series 2021-B, Class D, 5.41% 20311,10 | 1,000 | 964 | |
Palmer Square Loan Funding, CLO, Series 2021-2A, Class A1, (3-month USD-LIBOR + 0.80%) 1.28% 20291,3,10 | 387 | 384 | |
Palmer Square Loan Funding, CLO, Series 2021-1, Class A2, (3-month USD-LIBOR + 1.25%) 1.504% 20291,3,10 | 500 | 498 | |
Palmer Square Loan Funding, CLO, Series 2021-4A, Class A2, (3-month USD-LIBOR + 1.40%) 1.528% 20291,3,10 | 4,278 | 4,261 | |
Palmer Square Loan Funding, CLO, Series 2021-2A, Class A2, (3-month USD-LIBOR + 1.25%) 1.73% 20291,3,10 | 1,000 | 996 | |
Palmer Square Loan Funding, CLO, Series 2021-2A, Class B, (3-month USD-LIBOR + 1.40%) 1.88% 20291,3,10 | 500 | 497 | |
Palmer Square Loan Funding, CLO, Series 2021-1, Class B, (3-month USD-LIBOR + 1.80%) 2.054% 20291,3,10 | 890 | 886 | |
Palmer Square Loan Funding, CLO, Series 2022-1A, Class A1, (3-month USD-LIBOR + 1.05%) 1.284% 20301,3,10 | 8,836 | 8,776 | |
Race Point CLO, Ltd., Series 2015-9A, Class A1A2, (3-month USD-LIBOR + 0.94%) 1.181% 20301,3,10 | 1,266 | 1,264 | |
Regatta VIII Funding, Ltd., CLO, Series 2017-1A, Class B, (3-month USD-LIBOR + 1.70%) 1.941% 20301,3,10 | 3,000 | 2,981 | |
Rockford Tower CLO, Ltd., Series 2018-2A, Class B, (3-month USD-LIBOR + 1.80%) 2.054% 20311,3,10 | 1,260 | 1,254 | |
Santander Consumer Auto Receivables Trust, Series 2021-A, Class C, 1.03% 20261,10 | 250 | 235 | |
Santander Consumer Auto Receivables Trust, Series 2020-A, Class C, 3.71% 20261,10 | 200 | 201 |
American Funds Multi-Sector Income Fund — Page 30 of 39
unaudited
Bonds, notes & other debt instruments (continued) Asset-backed obligations (continued) | Principal amount (000) | Value (000) | |
Santander Consumer Auto Receivables Trust, Series 2021-A, Class D, 1.57% 20271,10 | $250 | $235 | |
Santander Drive Auto Receivables Trust, Series 2021-3, Class C, 0.95% 202710 | 1,105 | 1,073 | |
Santander Drive Auto Receivables Trust, Series 2021-3, Class D, 1.33% 202710 | 1,474 | 1,413 | |
Shackleton CLO, Ltd., Series 2013-4RA, Class A2A, (3-month USD-LIBOR + 1.60%) 1.844% 20311,3,10 | 2,275 | 2,266 | |
SMB Private Education Loan Trust, Series 2021-A, Class APT2, 1.07% 20531,10 | 455 | 419 | |
SMB Private Education Loan Trust, Series 2022-A, Class D, 4.75% 20541,10 | 2,083 | 2,018 | |
SOLRR Aircraft Aviation Holding, Ltd., Series 2021-1, Class A, 1.367% 20461,10 | 2,909 | 2,671 | |
Sound Point CLO, Ltd., Series 2015-1RA, Class AR, (3-month USD-LIBOR + 1.08%) 1.321% 20301,3,10 | 1,050 | 1,046 | |
Sprite, Ltd., Series 2021-1, Class A, 3.75% 20461,10 | 1,944 | 1,795 | |
Stellar Jay Ireland DAC, Series 2021-1, Class A, 3.967% 20411,10 | 1,728 | 1,622 | |
Stonepeak Infrastructure Partners, Series 2021-1A, Class AA, 2.301% 20331,10 | 1,736 | 1,637 | |
Stonepeak Infrastructure Partners, Series 2021-1A, Class B, 3.821% 20331,10 | 1,591 | 1,434 | |
SuttonPark Structured Settlements, Series 2021-1, Class A, 1.95% 20751,10 | 3,937 | 3,747 | |
TAL Advantage V LLC, Series 2020-1A, Class A, 2.05% 20451,10 | 169 | 158 | |
Textainer Marine Containers, Ltd., Series 2020-2A, Class A, 2.10% 20451,10 | 177 | 166 | |
Textainer Marine Containers, Ltd., Series 2020-3A, Class A, 2.11% 20451,10 | 2,159 | 2,029 | |
Textainer Marine Containers, Ltd., Series 2020-1A, Class A, 2.73% 20451,10 | 1,153 | 1,119 | |
Textainer Marine Containers, Ltd., Series 2020-2A, Class B, 3.34% 20451,10 | 417 | 403 | |
Textainer Marine Containers, Ltd., Series 2020-1A, Class B, 4.94% 20451,10 | 2,344 | 2,315 | |
Textainer Marine Containers, Ltd., Series 2021-1A, Class A, 1.68% 20461,10 | 1,308 | 1,186 | |
Textainer Marine Containers, Ltd., Series 2021-2A, Class A, 2.23% 20461,10 | 1,853 | 1,721 | |
Textainer Marine Containers, Ltd., Series 2021-1A, Class B, 2.52% 20461,10 | 337 | 312 | |
Textainer Marine Containers, Ltd., Series 2021-2A, Class B, 2.82% 20461,10 | 927 | 855 | |
TIF Funding II LLC, Series 2020-1A, Class A, 2.09% 20451,10 | 264 | 246 | |
TIF Funding II LLC, Series 2020-1A, Class B, 3.82% 20451,10 | 1,230 | 1,204 | |
TIF Funding II LLC, Series 2021-1A, Class B, 2.54% 20461,10 | 2,001 | 1,823 | |
Triton Container Finance VIII LLC, Series 2020-1, Class A, 2.11% 20451,10 | 436 | 403 | |
Triton Container Finance VIII LLC, Series 2020-1, Class B, 3.74% 20451,10 | 384 | 363 | |
Triton Container Finance VIII, LLC, Series 2021-1A, Class B, 2.58% 20461,10 | 3,326 | 3,042 | |
Voya CLO, Ltd., Series 2016-3A, Class A3R, 1.991% 20311,3,10 | 1,750 | 1,749 | |
285,835 | |||
Municipals 1.17% California 0.12% | |||
Golden State Tobacco Securitization Corp., Enhanced Tobacco Settlement Asset-Backed Bonds, Series 2021-B-1, 1.85% 2031 | 685 | 681 | |
Golden State Tobacco Securitization Corp., Enhanced Tobacco Settlement Asset-Backed Bonds, Series 2021-B, 2.746% 2034 | 65 | 59 | |
Golden State Tobacco Securitization Corp., Enhanced Tobacco Settlement Asset-Backed Bonds, Series 2021-A-1, 3.487% 2036 | 1,490 | 1,364 | |
Golden State Tobacco Securitization Corp., Enhanced Tobacco Settlement Asset-Backed Bonds, Series 2021-A-1, 3.714% 2041 | 2,235 | 2,000 | |
Regents of the University of California, General Rev. Bonds, Series 2020-BG, 1.614% 2030 | 35 | 31 | |
4,135 | |||
Florida 0.00% | |||
County of Broward, Airport System Rev. Ref. Bonds, Series 2019-C, 3.477% 2043 | 75 | 71 | |
Illinois 0.16% | |||
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 | 150 | 162 | |
City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2022-A, 4.00% 2047 | 4,020 | 3,892 | |
G.O. Bonds, Series 2017-A, 5.00% 2022 | 270 | 276 |
American Funds Multi-Sector Income Fund — Page 31 of 39
unaudited
Bonds, notes & other debt instruments (continued) Municipals (continued) Illinois (continued) | Principal amount (000) | Value (000) | |
G.O. Bonds, Series 2020, 5.125% 2022 | $500 | $501 | |
G.O. Bonds, Pension Funding, Series 2003, 5.10% 2033 | 90 | 96 | |
Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Capital Appreciation Bonds, Series 2017-A, Assured Guaranty Municipal insured, 0% 2056 | 1,810 | 403 | |
5,330 | |||
Kansas 0.11% | |||
City of Manhattan, Health Care Facs. Rev. Bonds (Meadowlark Hills), Series 2021-B, 2.44% 2025 | 3,750 | 3,670 | |
Ohio 0.21% | |||
Cleveland-Cuyahoga Port Auth., Federal Lease Rev. Bonds (VA Cleveland Health Care Center Project), Series 2021, 4.425% 2031 | 6,400 | 6,315 | |
Higher Educational Facs. Auth., Healthcare Fac. Rev. Bonds (Judson Obligated Group 2020 Project), Series 2020-A, 3.75% 2023 | 605 | 604 | |
6,919 | |||
Puerto Rico 0.51% | |||
G.O. Restructured Bonds, Series 2022-A-1, 5.25% 2023 | 980 | 1,004 | |
G.O. Restructured Bonds, Series 2022-A-1, 5.375% 2025 | 977 | 1,032 | |
G.O. Restructured Bonds, Series 2022-A-1, 5.625% 2027 | 968 | 1,059 | |
G.O. Restructured Bonds, Series 2022-A-1, 5.625% 2029 | 953 | 1,064 | |
G.O. Restructured Bonds, Series 2022-A-1, 5.75% 2031 | 925 | 1,056 | |
G.O. Restructured Bonds, Series 2022-A-1, 4.00% 2033 | 877 | 859 | |
G.O. Restructured Bonds, Series 2022-A-1, 4.00% 2035 | 789 | 763 | |
G.O. Restructured Bonds, Series 2022-A-1, 4.00% 2037 | 677 | 652 | |
G.O. Restructured Bonds, Series 2022-A-1, 4.00% 2041 | 920 | 877 | |
G.O. Restructured Bonds, Series 2022-A-1, 4.00% 2046 | 957 | 904 | |
G.O. Restructured Bonds, Capital Appreciation Bonds, Series 2022-A-1, 0% 2024 | 451 | 412 | |
G.O. Restructured Bonds, Capital Appreciation Bonds, Series 2022-A-1, 0% 2033 | 1,129 | 654 | |
G.O. Restructured Bonds, Capital Appreciation Bonds, Series 2022-A-1, 0% 2043 | 4,369 | 2,354 | |
Sales Tax Fncg. Corp., Sales Tax Rev. Restructured Bonds, Capital Appreciation Bonds, Series 2018-A-1, 0% 2051 | 20,000 | 4,452 | |
17,142 | |||
Washington 0.06% | |||
Econ. Dev. Fin. Auth., Environmental Facs. Rev. Bonds (North Pacific Paper Co. Recycling Project), Series 2020-B, 9.00% 20361 | 2,000 | 2,087 | |
Total municipals | 39,354 | ||
U.S. Treasury bonds & notes 0.29% U.S. Treasury 0.29% | |||
U.S. Treasury 0.25% 202411 | 13 | 12 | |
U.S. Treasury 0.375% 202411 | 60 | 58 | |
U.S. Treasury 0.375% 202411 | 54 | 51 | |
U.S. Treasury 0.625% 202411 | 106 | 101 | |
U.S. Treasury 0.75% 202411 | 2,056 | 1,965 | |
U.S. Treasury 1.00% 202411 | 613 | 589 | |
U.S. Treasury 1.50% 202411 | 287 | 283 | |
U.S. Treasury 1.75% 202511 | 268 | 263 | |
U.S. Treasury 0.75% 202611 | 1,418 | 1,315 | |
U.S. Treasury 0.875% 202611 | 10 | 9 | |
U.S. Treasury 0.50% 202711 | 118 | 106 | |
U.S. Treasury 1.875% 202711 | 2,634 | 2,564 | |
U.S. Treasury 1.875% 203211 | 1,202 | 1,155 |
American Funds Multi-Sector Income Fund — Page 32 of 39
unaudited
Bonds, notes & other debt instruments (continued) U.S. Treasury bonds & notes (continued) U.S. Treasury (continued) | Principal amount (000) | Value (000) | |
U.S. Treasury 2.375% 204211 | $242 | $234 | |
U.S. Treasury 1.875% 205111 | 1,051 | 923 | |
Total U.S. Treasury bonds & notes | 9,628 | ||
Total bonds, notes & other debt instruments (cost: $3,393,605,000) | 3,177,307 | ||
Convertible bonds & notes 0.00% Energy 0.00% | |||
Mesquite Energy, Inc., convertible notes, 15.19% PIK 20231,5,8,9 | 3 | 3 | |
Total convertible bonds & notes (cost: $3,000) | 3 | ||
Common stocks 0.20% Energy 0.20% | Shares | ||
Chesapeake Energy Corp. | 75,595 | 6,577 | |
California Resources Corp. | 633 | 28 | |
Diamond Offshore Drilling, Inc.12 | 337 | 2 | |
Diamond Offshore Drilling, Inc.1,12 | 232 | 2 | |
Mesquite Energy, Inc.8,9,12 | 127 | 1 | |
6,610 | |||
Consumer discretionary 0.00% | |||
NMG Parent LLC12 | 309 | 53 | |
MYT Holding Co., Class B8,12 | 8,984 | 20 | |
73 | |||
Communication services 0.00% | |||
Intelsat SA8,12 | 1,041 | 31 | |
Total common stocks (cost: $3,987,000) | 6,714 | ||
Preferred securities 0.00% Industrials 0.00% | |||
ACR III LSC Holdings LLC, Series B, preferred shares1,8,9,12 | 5 | 4 | |
Total preferred securities (cost: $5,000) | 4 | ||
Rights & warrants 0.00% Consumer discretionary 0.00% | |||
NMG Parent LLC, warrants, expire 20278,12 | 374 | 16 | |
Communication services 0.00% | |||
Intelsat Jackson Holdings SA (CVR), Series A8,12 | 108 | 1 | |
Intelsat Jackson Holdings SA (CVR), Series B8,12 | 108 | —6 | |
1 | |||
Total rights & warrants (cost: $3,000) | 17 |
American Funds Multi-Sector Income Fund — Page 33 of 39
unaudited
Short-term securities 3.85% Money market investments 3.83% | Shares | Value (000) | |
Capital Group Central Cash Fund 0.32%13,14 | 1,285,493 | $128,549 | |
Interest bearing bills & notes 0.02% | Coupon rate | Principal amount (000) | |
State of Vermont, Econ. Dev. Auth., Mortgage Rev. Bonds (Wake Robin Corp. Project) 5/1/2022 | 2.000% | $715 | 714 |
Total short-term securities (cost: $129,264,000) | 129,263 | ||
Total investment securities 98.78% (cost: $3,526,867,000) | 3,313,308 | ||
Other assets less liabilities 1.22% | 40,882 | ||
Net assets 100.00% | $3,354,190 |
Futures contracts
Contracts | Type | Number of contracts | Expiration | Notional amount (000) | Value and unrealized (depreciation) appreciation at 3/31/2022 (000) |
90 Day Euro Dollar Futures | Long | 3,288 | September 2023 | $796,354 | $(18,491) |
90 Day Euro Dollar Futures | Short | 3,597 | December 2023 | (872,003) | 18,358 |
2 Year U.S. Treasury Note Futures | Long | 3,242 | June 2022 | 687,051 | (9,001) |
5 Year U.S. Treasury Note Futures | Short | 11,566 | June 2022 | (1,326,476) | 33,194 |
10 Year U.S. Treasury Note Futures | Long | 306 | June 2022 | 37,600 | (1,378) |
10 Year Ultra U.S. Treasury Note Futures | Short | 1,021 | June 2022 | (138,314) | 4,870 |
20 Year U.S. Treasury Bond Futures | Long | 958 | June 2022 | 143,760 | (4,217) |
30 Year Ultra U.S. Treasury Bond Futures | Long | 836 | June 2022 | 148,077 | (5,957) |
$17,378 |
Forward currency contracts
Contract amount | Counterparty | Settlement date | Unrealized appreciation (depreciation) at 3/31/2022 (000) | |||
Currency purchased (000) | Currency sold (000) | |||||
EUR | 85 | USD | 94 | JPMorgan Chase | 4/11/2022 | $—6 |
EUR | 190 | USD | 210 | Morgan Stanley | 4/25/2022 | 1 |
USD | 17 | EUR | 15 | Bank of America | 4/25/2022 | —6 |
USD | 15,269 | EUR | 13,500 | Morgan Stanley | 4/28/2022 | 322 |
EUR | 425 | USD | 463 | Bank of New York Mellon | 4/28/2022 | 7 |
EUR | 410 | USD | 462 | Bank of America | 4/28/2022 | (8) |
$322 |
American Funds Multi-Sector Income Fund — Page 34 of 39
unaudited
Swap contracts
Credit default swaps
Centrally cleared credit default swaps on credit indices — buy protection
Reference index | Financing rate paid | Payment frequency | Expiration date | Notional amount (000) | Value at 3/31/2022 (000) | Upfront premium received (000) | Unrealized depreciation at 3/31/2022 (000) |
CDX.NA.IG.38 | 1.00% | Quarterly | 6/20/2027 | $20,960 | $(332) | $(289) | $(43) |
CDX.NA.HY.38 | 5.00% | Quarterly | 6/20/2027 | 380,600 | (20,492) | (18,133) | (2,359) |
$(20,824) | $(18,422) | $(2,402) |
Centrally cleared credit default swaps on credit indices — sell protection
Financing rate received | Payment frequency | Reference index | Expiration date | Notional amount (000) | Value at 3/31/2022 (000) | Upfront premium paid (000) | Unrealized appreciation at 3/31/2022 (000) |
5.00% | Quarterly | CDX.NA.HY.37 | 12/20/2026 | $22,490 | $1,394 | $1,202 | $192 |
Investments in affiliates14
Value of affiliate at 1/1/2022 (000) | Additions (000) | Reductions (000) | Net realized loss (000) | Net unrealized depreciation (000) | Value of affiliate at 3/31/2022 (000) | Dividend income (000) | |
Short-term securities 3.83% | |||||||
Money market investments 3.83% | |||||||
Capital Group Central Cash Fund 0.32%13 | $143,838 | $277,508 | $292,785 | $(1) | $(11) | $128,549 | $50 |
1 | Acquired in a transaction exempt from registration under Rule 144A of the Securities Act of 1933. May be resold in the U.S. in transactions exempt from registration, normally to qualified institutional buyers. The total value of all such securities was $1,998,595,000, which represented 59.59% of the net assets of the fund. |
2 | Loan participations and assignments; may be subject to legal or contractual restrictions on resale. The total value of all such loans was $50,220,000, which represented 1.50% 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 | Step bond; coupon rate may change at a later date. |
5 | Payment in kind; the issuer has the option of paying additional securities in lieu of cash. Payment methods and rates are as of the most recent payment when available. |
6 | Amount less than one thousand. |
7 | Scheduled interest and/or principal payment was not received. |
8 | Valued under fair value procedures adopted by authority of the board of trustees. The total value of all such securities was $43,147,000, which represented 1.29% of the net assets of the fund. |
9 | Value determined using significant unobservable inputs. |
10 | Principal payments may be made periodically. Therefore, the effective maturity date may be earlier than the stated maturity date. |
11 | All or a portion of this security was pledged as collateral. The total value of pledged collateral was $7,842,000, which represented .23% of the net assets of the fund. |
12 | Security did not produce income during the last 12 months. |
13 | Rate represents the seven-day yield at 3/31/2022. |
14 | Part of the same “group of investment companies“ as the fund as defined under the Investment Company Act of 1940, as amended. |
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 Multi-Sector Income Fund — Page 35 of 39
unaudited
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. The average month-end notional amount of futures contracts while held was $3,325,909,000. Forward currency contracts are valued based on the spot and forward exchange rates obtained from one or more pricing vendors. The average month-end notional amount of open forward currency contracts while held was $4,717,000. 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. The average month-end notional amount of credit default swaps while held was $86,732,000.
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.
American Funds Multi-Sector Income Fund — Page 36 of 39
unaudited
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 facilitated by the investment adviser’s global risk management 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 March 31, 2022 (dollars in thousands):
Investment securities | ||||
Level 1 | Level 2 | Level 3 | Total | |
Assets: | ||||
Bonds, notes & other debt instruments: | ||||
Corporate bonds, notes & loans | $— | $2,196,288 | $6,748 | $2,203,036 |
Bonds & notes of governments & government agencies outside the U.S. | — | 331,925 | — | 331,925 |
Mortgage-backed obligations | — | 278,133 | 29,396 | 307,529 |
Asset-backed obligations | — | 278,908 | 6,927 | 285,835 |
Municipals | — | 39,354 | — | 39,354 |
U.S. Treasury bonds & notes | — | 9,628 | — | 9,628 |
Convertible bonds & notes | — | — | 3 | 3 |
Common stocks | 6,609 | 104 | 1 | 6,714 |
Preferred securities | — | — | 4 | 4 |
Rights & warrants | — | 17 | — | 17 |
Short-term securities | 128,549 | 714 | — | 129,263 |
Total | $135,158 | $3,135,071 | $43,079 | $3,313,308 |
Other investments* | ||||
Level 1 | Level 2 | Level 3 | Total | |
Assets: | ||||
Unrealized appreciation on futures contracts | $56,422 | $— | $— | $56,422 |
Unrealized appreciation on open forward currency contracts | — | 330 | — | 330 |
Unrealized appreciation on credit default swaps | — | 192 | — | 192 |
Liabilities: | ||||
Unrealized depreciation on futures contracts | (39,044) | — | — | (39,044) |
Unrealized depreciation on open forward currency contracts | — | (8) | — | (8) |
Unrealized depreciation on credit default swaps | — | (2,402) | — | (2,402) |
Total | $17,378 | $(1,888) | $— | $15,490 |
* | Futures contracts, forward currency contracts and credit default swaps are not included in the fund’s investment portfolio. |
American Funds Multi-Sector Income Fund — Page 37 of 39
unaudited
The following table reconciles the valuation of the fund’s Level 3 investment securities and related transactions for the three months ended
March 31, 2022 (dollars in thousands):
March 31, 2022 (dollars in thousands):
Beginning value at 1/1/2022 | Transfers into Level 3† | Purchases | Sales | Net realized gain | Unrealized depreciation | Transfers out of Level 3† | Ending value at 3/31/2022 | |
Investment securities | $16,383 | $7,094 | $21,798 | $(1,030) | $35 | $(1,201) | $— | $43,079 |
Net unrealized depreciation during the period on Level 3 investment securities held at March 31, 2022 | $(1,208) |
†Transfers into or out of Level 3 are based on the beginning market value of the quarter in which they occurred. These transfers are the result of changes in the availability of pricing sources and/or in the observability of significant inputs used in valuing the securities.
Unobservable inputs — Valuation of the fund’s Level 3 securities is 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 following table provides additional information used by the fund’s investment adviser to fair value the fund’s Level 3 securities (dollars in thousands):
Value at 3/31/2022 | Valuation techniques | Unobservable inputs | Range (if applicable) | Weighted average* | Impact to valuation from an increase in input† | |
Bonds, notes & other debt instruments | $43,071 | Estimated recovery value | Expected proceeds | N/A | N/A | N/A |
Par value | N/A | N/A | N/A | |||
Risk discount | 2% | 2% | Decrease | |||
Call price | N/A | N/A | N/A | |||
Yield analysis | YTM risk premium | 104 bps - 398 bps | 253 bps | Decrease | ||
Transaction price | N/A | N/A | N/A | N/A | ||
Net adjustment based on market comparables movement (decrease) | 5% | 5% | Decrease | |||
Convertible bonds & notes | 3 | Transaction price | N/A | N/A | N/A | N/A |
Common stocks | 1 | Estimated recovery value | Exchange terms | N/A | N/A | N/A |
Par value | N/A | N/A | N/A | |||
Risk discount | 90% | 90% | Decrease | |||
Net adjustment based on market comparables (decrease) | 20% | 20% | Decrease | |||
Preferred securities | 4 | Market comparable companies | EV/EBITDA multiple | 3.5x | 3.5x | Increase |
DLOM | 30% | 30% | Decrease | |||
Total | $43,079 |
* | Weighted average is by relative fair value. |
† | This column represents the directional change in fair value of the Level 3 securities that would result in an increase from the corresponding input. A decrease to the unobservable input would have the opposite effect. Significant increases and decreases in these inputs in isolation could result in significantly higher or lower fair value measurements. |
American Funds Multi-Sector Income Fund — Page 38 of 39
unaudited
Key to abbreviations and symbols |
Auth. = Authority |
CLO = Collateralized Loan Obligations |
CME = CME Group |
CMO = Collateralized Mortgage Obligations |
CVR = Contingent Value Rights |
DAC = Designated Activity Company |
Dev. = Development |
DLOM = Discount for lack of marketability |
EBITDA = Earnings before income taxes, depreciation and amortization |
Econ. = Economic |
EUR/€ = Euros |
EV = Enterprise value |
Fac. = Facility |
Facs. = Facilities |
Fin. = Finance |
Fncg. = Financing |
G.O. = General Obligation |
LIBOR = London Interbank Offered Rate |
Ref. = Refunding |
Rev. = Revenue |
SOFR = Secured Overnight Financing Rate |
USD/$ = U.S. dollars |
YTM = Yield to maturity |
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.
© 2022 Capital Group. All rights reserved.
MFGEFP1-126-0522O-S85395 | American Funds Multi-Sector Income Fund — Page 39 of 39 |