American Funds® Multi-Sector Income Fund
Investment portfolio
September 30, 2023
Investment portfolio
September 30, 2023
unaudited
Bonds, notes & other debt instruments 96.81% Corporate bonds, notes & loans 69.47% Financials 14.56% | Principal amount (000) | Value (000) | |
AerCap Ireland Capital DAC 2.45% 10/29/2026 | USD1,322 | $1,185 | |
AerCap Ireland Capital DAC 5.75% 6/6/2028 | 27,550 | 26,936 | |
AerCap Ireland Capital DAC 3.00% 10/29/2028 | 980 | 841 | |
AerCap Ireland Capital DAC 3.30% 1/30/2032 | 11,651 | 9,266 | |
AerCap Ireland Capital DAC 3.40% 10/29/2033 | 300 | 232 | |
AerCap Ireland Capital DAC 3.85% 10/29/2041 | 26,869 | 19,087 | |
AG Issuer, LLC 6.25% 3/1/20281 | 14,940 | 13,968 | |
AG TTMT Escrow Issuer, LLC 8.625% 9/30/20271 | 16,440 | 16,555 | |
AIB Group PLC 6.608% 9/13/2029 (USD-SOFR + 2.33% on 9/13/2028)1,2 | 1,100 | 1,096 | |
Alliant Holdings Intermediate, LLC 4.25% 10/15/20271 | 10,350 | 9,278 | |
Alliant Holdings Intermediate, LLC 6.75% 10/15/20271 | 18,918 | 17,614 | |
Alliant Holdings Intermediate, LLC 5.875% 11/1/20291 | 12,025 | 10,427 | |
Allstate Corp. (The) 5.25% 3/30/2033 | 2,821 | 2,663 | |
American International Group, Inc. 5.125% 3/27/2033 | 10,332 | 9,623 | |
AmWINS Group, Inc. 4.875% 6/30/20291 | 20,615 | 18,090 | |
Aon Corp. 5.35% 2/28/2033 | 22,159 | 21,266 | |
Aretec Escrow Issuer, Inc. 7.50% 4/1/20291 | 25,184 | 22,436 | |
Ascensus, Inc., Term Loan, (1-month USD CME Term SOFR + 6.50%) 12.03% 8/2/20293,4 | 3,415 | 3,261 | |
AssuredPartners, Inc. 7.00% 8/15/20251 | 335 | 332 | |
AssuredPartners, Inc. 5.625% 1/15/20291 | 11,273 | 9,773 | |
Bangkok Bank Public Co., Ltd. 4.45% 9/19/2028 | 200 | 189 | |
Bangkok Bank Public Co., Ltd. 3.733% 9/25/2034 (5-year UST Yield Curve Rate T Note Constant Maturity + 1.90% on 9/25/2029)2 | 23,400 | 19,550 | |
Bangkok Bank Public Co., Ltd. 3.466% 9/23/2036 (5-year UST Yield Curve Rate T Note Constant Maturity + 2.15% on 9/23/2031)2 | 3,600 | 2,798 | |
Bank of America Corp. 5.08% 1/20/2027 (USD-SOFR + 1.29% on 1/20/2026)2 | 3,060 | 2,992 | |
Bank of America Corp. 1.734% 7/22/2027 (USD-SOFR + 0.96% on 7/22/2026)2 | 4,520 | 4,007 | |
Bank of America Corp. 2.551% 2/4/2028 (USD-SOFR + 1.05% on 2/4/2027)2 | 593 | 529 | |
Bank of America Corp. 4.376% 4/27/2028 (USD-SOFR + 1.58% on 4/27/2027)2 | 98 | 93 | |
Bank of America Corp. 4.948% 7/22/2028 (USD-SOFR + 2.04% on 7/22/2027)2 | 38,480 | 36,988 | |
Bank of America Corp. 5.202% 4/25/2029 (USD-SOFR + 1.63% on 4/25/2028)2 | 19,380 | 18,677 | |
Bank of America Corp. 1.898% 7/23/2031 (USD-SOFR + 1.53% on 7/23/2030)2 | 1,321 | 1,004 | |
Bank of America Corp. 5.288% 4/25/2034 (USD-SOFR + 1.91% on 4/25/2033)2 | 39,146 | 36,448 | |
Bank of America Corp. 5.872% 9/15/2034 (USD-SOFR + 1.84% on 9/15/2033)2 | 7,566 | 7,367 | |
Barclays PLC 6.224% 5/9/2034 (USD-SOFR + 2.98% on 5/9/2033)2 | 4,420 | 4,190 | |
BBVA Bancomer, SA 5.875% 9/13/2034 (5-year UST Yield Curve Rate T Note Constant Maturity + 4.308% on 9/13/2029)2 | 6,200 | 5,432 | |
BBVA Bancomer, SA 8.45% 6/29/2038 (5-year UST Yield Curve Rate T Note Constant Maturity + 4.661% on 6/29/2033)1,2 | 13,815 | 13,627 | |
Block, Inc. 2.75% 6/1/2026 | 5,105 | 4,597 | |
Block, Inc. 3.50% 6/1/2031 | 37,000 | 29,108 | |
Blue Owl Credit Income Corp. 4.70% 2/8/2027 | 2,171 | 1,977 | |
BPCE 1.652% 10/6/2026 (USD-SOFR + 1.52% on 10/6/2025)1,2 | 250 | 227 | |
BPCE 2.277% 1/20/2032 (USD-SOFR + 1.312% on 1/20/2031)1,2 | 20,870 | 15,637 | |
CaixaBank, SA 6.208% 1/18/2029 (USD-SOFR + 2.70% on 1/18/2028)1,2 | 6,450 | 6,315 |
American Funds Multi-Sector Income Fund — Page 1 of 47
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Financials (continued) | Principal amount (000) | Value (000) | |
CaixaBank, SA 6.84% 9/13/2034 (USD-SOFR + 2.77% on 9/13/2033)1,2 | USD17,310 | $16,978 | |
Capital One Financial Corp. 5.468% 2/1/2029 (USD-SOFR + 2.08% on 2/1/2028)2 | 4,758 | 4,532 | |
Capital One Financial Corp. 6.377% 6/8/2034 (USD-SOFR + 2.86% on 6/8/2033)2 | 12,000 | 11,334 | |
Charles Schwab Corp. (The) 2.45% 3/3/2027 | 15,813 | 14,094 | |
Charles Schwab Corp. (The) 5.853% 5/19/2034 (USD-SOFR + 2.50% on 5/19/2033)2 | 4,306 | 4,099 | |
China Ping An Insurance Overseas (Holdings), Ltd. 2.85% 8/12/2031 | 1,700 | 1,255 | |
Citigroup, Inc. 2.52% 11/3/2032 (USD-SOFR + 1.177% on 11/3/2031)2 | 20 | 15 | |
Citigroup, Inc. 3.057% 1/25/2033 (USD-SOFR + 1.351% on 1/25/2032)2 | 5,053 | 3,996 | |
Citigroup, Inc. 3.785% 3/17/2033 (USD-SOFR + 1.939% on 3/17/2032)2 | 20,010 | 16,700 | |
Citigroup, Inc. 6.27% 11/17/2033 (USD-SOFR + 2.338% on 11/17/2032)2 | 18,676 | 18,634 | |
Citigroup, Inc. 6.174% 5/25/2034 (USD-SOFR + 2.661% on 5/25/2033)2 | 9,225 | 8,822 | |
CMB International Leasing Management, Ltd. 2.75% 8/12/2030 | 5,505 | 4,421 | |
Coinbase Global, Inc. 3.375% 10/1/20281 | 12,183 | 8,790 | |
Coinbase Global, Inc. 3.625% 10/1/20311 | 13,365 | 8,886 | |
Compass Group Diversified Holdings, LLC 5.25% 4/15/20291 | 32,735 | 28,653 | |
Compass Group Diversified Holdings, LLC 5.00% 1/15/20321 | 11,605 | 9,475 | |
Corebridge Financial, Inc. 3.85% 4/5/2029 | 5,959 | 5,358 | |
Corebridge Financial, Inc. 3.90% 4/5/2032 | 12,896 | 10,866 | |
Corebridge Financial, Inc. 4.35% 4/5/2042 | 1,724 | 1,307 | |
Corebridge Financial, Inc. 4.40% 4/5/2052 | 14,051 | 10,308 | |
Danske Bank AS 4.298% 4/1/2028 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.75% on 4/1/2027)1,2 | 12,485 | 11,634 | |
Deutsche Bank AG 7.146% 7/13/2027 (USD-SOFR + 2.52% on 7/13/2026)2 | 3,747 | 3,774 | |
Deutsche Bank AG 2.311% 11/16/2027 (USD-SOFR + 1.219% on 11/16/2026)2 | 2,094 | 1,824 | |
Deutsche Bank AG 2.552% 1/7/2028 (USD-SOFR + 1.318% on 1/7/2027)2 | 7,299 | 6,373 | |
Deutsche Bank AG 6.72% 1/18/2029 (USD-SOFR + 3.18% on 1/18/2028)2 | 10,875 | 10,816 | |
Deutsche Bank AG 3.547% 9/18/2031 (USD-SOFR + 3.043% on 9/18/2030)2 | 300 | 242 | |
Deutsche Bank AG 3.742% 1/7/2033 (USD-SOFR + 2.257% on 1/7/2032)2 | 11,640 | 8,360 | |
Discover Financial Services 6.70% 11/29/2032 | 4,055 | 3,923 | |
DNB Bank ASA 1.535% 5/25/2027 (5-year UST Yield Curve Rate T Note Constant Maturity + 0.72% on 5/25/2026)1,2 | 2,550 | 2,253 | |
Fifth Third Bancorp 6.339% 7/27/2029 (USD-SOFR + 2.34% on 7/27/2028)2 | 5,020 | 4,962 | |
Five Corners Funding Trust III 5.791% 2/15/20331 | 5,520 | 5,423 | |
GE Capital Funding, LLC 4.55% 5/15/2032 | 4,350 | 4,012 | |
Goldman Sachs Group, Inc. 1.948% 10/21/2027 (USD-SOFR + 0.913% on 10/21/2026)2 | 1,995 | 1,762 | |
Goldman Sachs Group, Inc. 3.615% 3/15/2028 (USD-SOFR + 1.846% on 3/15/2027)2 | 9,660 | 8,917 | |
Goldman Sachs Group, Inc. 1.992% 1/27/2032 (USD-SOFR + 1.09% on 1/27/2031)2 | 6,314 | 4,736 | |
Goldman Sachs Group, Inc. 2.615% 4/22/2032 (USD-SOFR + 1.281% on 4/22/2031)2 | 16,653 | 13,015 | |
Goldman Sachs Group, Inc. 2.65% 10/21/2032 (USD-SOFR + 1.264% on 10/21/2031)2 | 21,500 | 16,605 | |
Goldman Sachs Group, Inc. 3.102% 2/24/2033 (USD-SOFR + 1.41% on 2/24/2032)2 | 34,148 | 27,319 | |
Goldman Sachs Group, Inc. 3.436% 2/24/2043 (USD-SOFR + 1.632% on 2/24/2042)2 | 3,010 | 2,078 | |
GTCR (AP) Finance, Inc. 8.00% 5/15/20271 | 9,122 | 8,975 | |
GTCR W-2 Merger Sub, LLC 7.50% 1/15/20311 | 20,625 | 20,680 | |
HDFC Bank, Ltd. 3.70% junior subordinated perpetual bonds (5-Year UST Yield Curve Rate T Note Constant Maturity + 2.925% on 2/25/2027)1,2 | 2,000 | 1,729 | |
Hightower Holding, LLC 6.75% 4/15/20291 | 12,115 | 10,417 | |
HSBC Holdings PLC 4.755% 6/9/2028 (USD-SOFR + 2.11% on 6/9/2027)2 | 729 | 690 | |
HSBC Holdings PLC 4.583% 6/19/2029 (3-month USD CME Term SOFR + 1.796% on 6/19/2028)2 | 277 | 256 | |
HSBC Holdings PLC 2.206% 8/17/2029 (USD-SOFR + 1.285% on 8/17/2028)2 | 2,093 | 1,726 | |
HSBC Holdings PLC 2.804% 5/24/2032 (USD-SOFR + 1.187% on 5/24/2031)2 | 19,891 | 15,417 | |
HSBC Holdings PLC 2.871% 11/22/2032 (USD-SOFR + 1.41% on 11/22/2031)2 | 3,892 | 2,994 | |
HSBC Holdings PLC 6.254% 3/9/2034 (USD-SOFR + 2.39% on 3/9/2033)2 | 43,011 | 42,070 | |
HSBC Holdings PLC 6.547% 6/20/2034 (USD-SOFR + 2.98% on 6/20/2033)2 | 9,800 | 9,303 |
American Funds Multi-Sector Income Fund — Page 2 of 47
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Financials (continued) | Principal amount (000) | Value (000) | |
HSBC Holdings PLC 6.332% 3/9/2044 (USD-SOFR + 2.65% on 3/9/2043)2 | USD21,030 | $20,216 | |
Huarong Finance 2017 Co., Ltd. 4.75% 4/27/2027 | 3,700 | 3,174 | |
Huarong Finance 2017 Co., Ltd. 4.25% 11/7/2027 | 1,772 | 1,477 | |
Huarong Finance 2019 Co., Ltd. 3.75% 5/29/2024 | 200 | 194 | |
Huarong Finance 2019 Co., Ltd. (3-month USD CME Term SOFR + 1.512%) 6.812% 2/24/20254 | 1,862 | 1,747 | |
Huarong Finance II Co., Ltd. 5.50% 1/16/2025 | 438 | 413 | |
Huarong Finance II Co., Ltd. 5.00% 11/19/2025 | 200 | 180 | |
Huarong Finance II Co., Ltd. 4.625% 6/3/2026 | 216 | 190 | |
Huarong Finance II Co., Ltd. 4.875% 11/22/2026 | 698 | 605 | |
HUB International, Ltd. 7.00% 5/1/20261 | 10,885 | 10,873 | |
HUB International, Ltd. 5.625% 12/1/20291 | 12,508 | 10,907 | |
HUB International, Ltd. 7.25% 6/15/20301 | 26,381 | 26,361 | |
HUB International, Ltd., Term Loan B, (3-month USD CME Term SOFR + 4.25%) 9.584% 6/20/20303,4 | 4,110 | 4,128 | |
Huntington Bancshares, Inc. 6.208% 8/21/2029 (USD-SOFR + 2.02% on 8/21/2028)2 | 14,550 | 14,242 | |
ICBCIL Finance Co., Ltd. 3.625% 11/15/2027 | 4,600 | 4,276 | |
Intercontinental Exchange, Inc. 4.60% 3/15/2033 | 3,574 | 3,284 | |
Intercontinental Exchange, Inc. 2.65% 9/15/2040 | 575 | 377 | |
Intercontinental Exchange, Inc. 3.00% 6/15/2050 | 4,964 | 3,099 | |
Iron Mountain Information Management Services, Inc. 5.00% 7/15/20321 | 14,405 | 11,857 | |
JPMorgan Chase & Co. 1.561% 12/10/2025 (USD-SOFR + 0.605% on 12/10/2024)2 | 76 | 72 | |
JPMorgan Chase & Co. 1.578% 4/22/2027 (USD-SOFR + 0.885% on 4/22/2026)2 | 1,126 | 1,005 | |
JPMorgan Chase & Co. 4.851% 7/25/2028 (USD-SOFR + 1.99% on 7/25/2027)2 | 17,140 | 16,526 | |
JPMorgan Chase & Co. 1.953% 2/4/2032 (USD-SOFR + 1.065% on 2/4/2031)2 | 1,509 | 1,145 | |
JPMorgan Chase & Co. 5.35% 6/1/2034 (USD-SOFR + 1.845% on 6/1/2033)2 | 14,090 | 13,369 | |
JPMorgan Chase & Co. 3.328% 4/22/2052 (USD-SOFR + 1.58% on 4/22/2051)2 | 6,641 | 4,320 | |
Kasikornbank PCL (Hong Kong Branch) 3.343% 10/2/2031 (5-year UST Yield Curve Rate T Note Constant Maturity + 1.70% on 10/2/2026)2 | 29,100 | 25,981 | |
KBC Groep NV 5.796% 1/19/2029 (1-year UST Yield Curve Rate T Note Constant Maturity + 2.10% on 1/19/2028)1,2 | 3,600 | 3,519 | |
Korea Exchange Bank 3.25% 3/30/20271 | 4,110 | 3,815 | |
Korea Exchange Bank 3.25% 3/30/2027 | 3,890 | 3,611 | |
Lloyds Banking Group PLC 5.985% 8/7/2027 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.48% on 8/7/2026)2 | 4,000 | 3,965 | |
LPL Holdings, Inc. 4.625% 11/15/20271 | 3,009 | 2,783 | |
LPL Holdings, Inc. 4.00% 3/15/20291 | 14,345 | 12,522 | |
LPL Holdings, Inc. 4.375% 5/15/20311 | 5,945 | 5,093 | |
Marsh & McLennan Companies, Inc. 5.70% 9/15/2053 | 1,720 | 1,664 | |
MetLife, Inc. 5.375% 7/15/2033 | 4,471 | 4,302 | |
MetLife, Inc. 5.00% 7/15/2052 | 1,045 | 903 | |
Metropolitan Life Global Funding I 5.05% 1/6/20281 | 3,890 | 3,808 | |
Metropolitan Life Global Funding I 5.15% 3/28/20331 | 1,808 | 1,714 | |
Mitsubishi UFJ Financial Group, Inc. 5.133% 7/20/2033 (1-year UST Yield Curve Rate T Note Constant Maturity + 2.125% on 7/20/2032)2 | 445 | 417 | |
Mizuho Financial Group, Inc. 5.778% 7/6/2029 (1-year UST Yield Curve Rate T Note Constant Maturity + 1.65% on 7/6/2028)2 | 7,988 | 7,881 | |
Morgan Stanley 1.512% 7/20/2027 (USD-SOFR + 0.858% on 7/20/2026)2 | 3,160 | 2,793 | |
Morgan Stanley 5.123% 2/1/2029 (USD-SOFR + 1.73% on 2/1/2028)2 | 8,851 | 8,527 | |
Morgan Stanley 5.164% 4/20/2029 (USD-SOFR + 1.59% on 4/20/2028)2 | 10,436 | 10,044 | |
Morgan Stanley 2.511% 10/20/2032 (USD-SOFR + 1.20% on 10/20/2031)2 | 459 | 351 | |
Morgan Stanley 4.889% 7/20/2033 (USD-SOFR + 2.077% on 7/20/2032)2 | 22,325 | 20,297 | |
Morgan Stanley 6.342% 10/18/2033 (USD-SOFR + 2.565% on 10/18/2032)2 | 11,940 | 12,014 | |
Morgan Stanley 5.25% 4/21/2034 (USD-SOFR + 1.87% on 4/21/2033)2 | 32,059 | 29,786 | |
Morgan Stanley 5.424% 7/21/2034 (USD-SOFR + 1.88% on 7/21/2033)2 | 33,255 | 31,384 |
American Funds Multi-Sector Income Fund — Page 3 of 47
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Financials (continued) | Principal amount (000) | Value (000) | |
MSCI, Inc. 4.00% 11/15/20291 | USD3,385 | $2,977 | |
MSCI, Inc. 3.625% 9/1/20301 | 3,680 | 3,089 | |
MSCI, Inc. 3.875% 2/15/20311 | 4,546 | 3,857 | |
MSCI, Inc. 3.625% 11/1/20311 | 2,299 | 1,884 | |
Nasdaq, Inc. 5.35% 6/28/2028 | 3,201 | 3,144 | |
Nasdaq, Inc. 5.55% 2/15/2034 | 12,100 | 11,556 | |
Nasdaq, Inc. 5.95% 8/15/2053 | 18,597 | 17,385 | |
Nasdaq, Inc. 6.10% 6/28/2063 | 2,243 | 2,088 | |
Navient Corp. 5.00% 3/15/2027 | 9,220 | 8,297 | |
Navient Corp. 4.875% 3/15/2028 | 1,775 | 1,507 | |
Navient Corp. 5.50% 3/15/2029 | 3,330 | 2,801 | |
Navient Corp. 9.375% 7/25/2030 | 14,000 | 13,822 | |
Navient Corp. 5.625% 8/1/2033 | 22,090 | 16,059 | |
New York Life Global Funding 4.90% 6/13/20281 | 4,990 | 4,856 | |
New York Life Global Funding 4.55% 1/28/20331 | 4,621 | 4,241 | |
NFP Corp. 4.875% 8/15/20281 | 8,775 | 7,735 | |
NFP Corp. 6.875% 8/15/20281 | 17,769 | 15,244 | |
NFP Corp. 7.50% 10/1/20301 | 8,425 | 8,102 | |
Northwestern Mutual Life Insurance Co. (The) 4.90% 6/12/20281 | 1,990 | 1,940 | |
Onemain Finance Corp. 6.125% 3/15/2024 | 268 | 267 | |
Onemain Finance Corp. 7.125% 3/15/2026 | 1,385 | 1,358 | |
Osaic Holdings, Inc. 10.75% 8/1/20271 | 7,171 | 7,220 | |
Osaic Holdings, Inc., Term Loan B, (3-month USD CME Term SOFR + 4.50%) 9.816% 8/17/20283,4 | 6,460 | 6,471 | |
Owl Rock Capital Corp. 3.75% 7/22/2025 | 1,063 | 997 | |
Oxford Finance, LLC 6.375% 2/1/20271 | 7,151 | 6,654 | |
PayPal Holdings, Inc. 5.05% 6/1/2052 | 12,372 | 11,202 | |
PayPal Holdings, Inc. 5.25% 6/1/2062 | 3,235 | 2,875 | |
PNC Financial Services Group, Inc. 5.354% 12/2/2028 (USD-SOFR + 1.62% on 12/2/2027)2 | 375 | 363 | |
PNC Financial Services Group, Inc. 5.582% 6/12/2029 (USD-SOFR + 1.841% on 6/12/2028)2 | 2,321 | 2,253 | |
PNC Financial Services Group, Inc. 6.037% 10/28/2033 (USD-SOFR + 2.14% on 10/28/2032)2 | 3,126 | 3,036 | |
PNC Financial Services Group, Inc. 5.939% 8/18/2034 (USD-SOFR + 1.946% on 8/18/2033)2 | 19,668 | 18,907 | |
Power Finance Corp., Ltd. 6.15% 12/6/2028 | 1,200 | 1,202 | |
Power Finance Corp., Ltd. 4.50% 6/18/2029 | 3,300 | 3,032 | |
Power Finance Corp., Ltd. 3.90% 9/16/2029 | 2,700 | 2,382 | |
PT Bank Negara Indonesia (Persero) Tbk 4.30% junior subordinated perpetual bonds (5-year UST Yield Curve Rate T Note Constant Maturity + 3.466% on 3/24/2027)2 | 3,937 | 3,244 | |
Rede D’Or Finance SARL 4.50% 1/22/20301 | 1,938 | 1,640 | |
Royal Bank of Canada 5.00% 2/1/2033 | 8,246 | 7,690 | |
Ryan Specialty Group, LLC 4.375% 2/1/20301 | 15,145 | 13,208 | |
Standard Chartered PLC 6.296% 7/6/2034 (1-year UST Yield Curve Rate T Note Constant Maturity + 2.58% on 7/6/2033)1,2 | 913 | 882 | |
State Street Corp. 4.821% 1/26/2034 (USD-SOFR + 1.567% on 1/26/2033)2 | 27,949 | 25,504 | |
State Street Corp. 5.159% 5/18/2034 (USD-SOFR + 1.89% on 5/18/2033)2 | 7,062 | 6,573 | |
Sumitomo Mitsui Financial Group, Inc. 5.80% 7/13/2028 | 12,000 | 11,925 | |
Sumitomo Mitsui Financial Group, Inc. 5.808% 9/14/2033 | 8,050 | 7,825 | |
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)2,5 | 3,843 | 140 | |
Toronto-Dominion Bank (The) 5.156% 1/10/2028 | 3,673 | 3,587 | |
Toronto-Dominion Bank (The) 5.523% 7/17/2028 | 60,580 | 59,828 | |
Travelers Companies, Inc. 5.45% 5/25/2053 | 1,333 | 1,274 | |
Truist Financial Corp. 5.867% 6/8/2034 (USD-SOFR + 2.361% on 6/8/2033)2 | 26,831 | 25,273 | |
U.S. Bancorp 4.653% 2/1/2029 (USD-SOFR + 1.23% on 2/1/2028)2 | 8,866 | 8,300 | |
U.S. Bancorp 4.839% 2/1/2034 (USD-SOFR + 1.60% on 2/1/2033)2 | 6,300 | 5,551 | |
U.S. Bancorp 5.836% 6/12/2034 (USD-SOFR + 2.26% on 6/10/2033)2 | 23,470 | 22,154 |
American Funds Multi-Sector Income Fund — Page 4 of 47
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Financials (continued) | Principal amount (000) | Value (000) | |
UBS Group AG 3.091% 5/14/2032 (USD-SOFR + 1.73% on 5/14/2031)1,2 | USD24,025 | $18,991 | |
UBS Group AG 6.301% 9/22/2034 (1-year UST Yield Curve Rate T Note Constant Maturity + 2.00% on 9/22/2033)1,2 | 11,025 | 10,776 | |
Wells Fargo & Co. 4.808% 7/25/2028 (USD-SOFR + 1.98% on 7/25/2027)2 | 4,750 | 4,534 | |
Wells Fargo & Co. 4.478% 4/4/2031 (USD-SOFR + 4.032% on 4/4/2030)2 | 39,700 | 36,029 | |
Wells Fargo & Co. 5.389% 4/24/2034 (USD-SOFR + 2.02% on 4/24/2033)2 | 15,870 | 14,843 | |
Wells Fargo & Co. 5.557% 7/25/2034 (USD-SOFR + 1.99% on 7/25/2033)2 | 34,405 | 32,596 | |
Wells Fargo & Co. 4.611% 4/25/2053 (USD-SOFR + 2.13% on 4/25/2052)2 | 3,649 | 2,860 | |
WeWork Companies, LLC 6.00% PIK and 5.00% Cash 8/15/20271,6 | 10,744 | 1,182 | |
WeWork Companies, LLC 8.00% PIK and 7.00% Cash 8/15/20271,6 | 8,562 | 4,259 | |
Xiaomi Best Time International, Ltd. 2.875% 7/14/2031 | 3,500 | 2,601 | |
Xiaomi Best Time International, Ltd. 2.875% 7/14/20311 | 1,805 | 1,342 | |
Xiaomi Best Time International, Ltd. 4.10% 7/14/20511 | 1,120 | 629 | |
1,751,743 | |||
Energy 9.99% | |||
AI Candelaria (Spain), SLU 5.75% 6/15/20331 | 2,135 | 1,513 | |
Apache Corp. 4.625% 11/15/2025 | 985 | 948 | |
Apache Corp. 4.25% 1/15/2030 | 4,000 | 3,559 | |
Apache Corp. 5.10% 9/1/2040 | 6,770 | 5,386 | |
Apache Corp. 5.25% 2/1/2042 | 4,450 | 3,489 | |
Apache Corp. 4.75% 4/15/2043 | 516 | 376 | |
Apache Corp. 4.25% 1/15/2044 | 211 | 138 | |
Apache Corp. 5.35% 7/1/2049 | 112 | 86 | |
Ascent Resources Utica Holdings, LLC 7.00% 11/1/20261 | 5,155 | 5,040 | |
Ascent Resources Utica Holdings, LLC 8.25% 12/31/20281 | 5,077 | 5,028 | |
Ascent Resources Utica Holdings, LLC 5.875% 6/30/20291 | 5,165 | 4,650 | |
BIP-V Chinook Holdco, LLC 5.50% 6/15/20311 | 13,735 | 12,190 | |
Blue Racer Midstream, LLC 7.625% 12/15/20251 | 7,043 | 7,076 | |
BP Capital Markets America, Inc. 4.893% 9/11/2033 | 21,757 | 20,437 | |
California Resources Corp. 7.125% 2/1/20261 | 12,000 | 12,073 | |
Callon Petroleum Co. 8.00% 8/1/20281 | 4,300 | 4,310 | |
Callon Petroleum Co. 7.50% 6/15/20301 | 22,165 | 21,519 | |
Cenovus Energy, Inc. 5.375% 7/15/2025 | 172 | 170 | |
Cenovus Energy, Inc. 3.75% 2/15/2052 | 1,142 | 757 | |
Cheniere Energy Partners, LP 4.00% 3/1/2031 | 1,340 | 1,147 | |
Cheniere Energy Partners, LP 5.95% 6/30/20331 | 25,000 | 24,143 | |
Cheniere Energy, Inc. 4.625% 10/15/2028 | 13,290 | 12,232 | |
Chesapeake Energy Corp. 5.50% 2/1/20261 | 3,110 | 3,012 | |
Chesapeake Energy Corp. 5.875% 2/1/20291 | 25,680 | 24,187 | |
Chesapeake Energy Corp. 6.75% 4/15/20291 | 1,280 | 1,254 | |
Chevron Corp. 2.236% 5/11/2030 | 5,035 | 4,200 | |
Chevron Corp. 3.078% 5/11/2050 | 5,214 | 3,503 | |
CITGO Petroleum Corp. 8.375% 1/15/20291 | 8,040 | 8,035 | |
Civitas Resources, Inc. 5.00% 10/15/20261 | 12,815 | 12,034 | |
Civitas Resources, Inc. 8.375% 7/1/20281 | 15,000 | 15,281 | |
Civitas Resources, Inc. 8.75% 7/1/20311 | 25,040 | 25,609 | |
CNX Resources Corp. 7.25% 3/14/20271 | 5,815 | 5,744 | |
CNX Resources Corp. 6.00% 1/15/20291 | 8,304 | 7,767 | |
CNX Resources Corp. 7.375% 1/15/20311 | 5,085 | 4,991 | |
Columbia Pipelines Holding Co., LLC 6.544% 11/15/20531 | 4,975 | 4,869 | |
Columbia Pipelines Operating Co., LLC 5.927% 8/15/20301 | 6,162 | 6,086 | |
Columbia Pipelines Operating Co., LLC 6.036% 11/15/20331 | 4,214 | 4,116 | |
Columbia Pipelines Operating Co., LLC 6.497% 8/15/20431 | 3,853 | 3,757 |
American Funds Multi-Sector Income Fund — Page 5 of 47
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Energy (continued) | Principal amount (000) | Value (000) | |
Comstock Resources, Inc. 6.75% 3/1/20291 | USD10,215 | $9,409 | |
Comstock Resources, Inc. 5.875% 1/15/20301 | 19,635 | 17,020 | |
ConocoPhillips Co. 3.80% 3/15/2052 | 1,311 | 952 | |
ConocoPhillips Co. 5.30% 5/15/2053 | 14,577 | 13,407 | |
ConocoPhillips Co. 5.55% 3/15/2054 | 860 | 818 | |
Continental Resources, Inc. 5.75% 1/15/20311 | 1,600 | 1,504 | |
Continental Resources, Inc. 2.875% 4/1/20321 | 3,443 | 2,580 | |
Cosan Luxembourg SA 7.50% 6/27/20301 | 4,000 | 3,974 | |
Crescent Energy Finance, LLC 9.25% 2/15/20281 | 26,730 | 27,316 | |
Crestwood Midstream Partners, LP 6.00% 2/1/20291 | 1,165 | 1,126 | |
Crestwood Midstream Partners, LP 8.00% 4/1/20291 | 9,580 | 9,835 | |
Crestwood Midstream Partners, LP 7.375% 2/1/20311 | 12,443 | 12,687 | |
CrownRock, LP 5.00% 5/1/20291 | 5,945 | 5,576 | |
DT Midstream, Inc. 4.125% 6/15/20291 | 1,755 | 1,520 | |
DT Midstream, Inc. 4.375% 6/15/20311 | 10,350 | 8,715 | |
Earthstone Energy Holdings, LLC 9.875% 7/15/20311 | 10,930 | 11,897 | |
Ecopetrol SA 8.625% 1/19/2029 | 5,200 | 5,225 | |
Ecopetrol SA 6.875% 4/29/2030 | 5,990 | 5,475 | |
Ecopetrol SA 4.625% 11/2/2031 | 250 | 191 | |
Ecopetrol SA 8.875% 1/13/2033 | 15,585 | 15,235 | |
Encino Acquisition Partners Holdings, LLC 8.50% 5/1/20281 | 540 | 519 | |
Energean Israel Finance, Ltd. 5.875% 3/30/20311 | 930 | 810 | |
Energy Transfer, LP 6.50% junior subordinated perpetual bonds (5-year UST Yield Curve Rate T Note Constant Maturity + 5.694% on 11/15/2026)2 | 1,107 | 1,020 | |
EQM Midstream Partners, LP 6.00% 7/1/20251 | 2,025 | 1,995 | |
EQM Midstream Partners, LP 7.50% 6/1/20271 | 232 | 233 | |
EQM Midstream Partners, LP 6.50% 7/1/20271 | 8,175 | 7,991 | |
EQM Midstream Partners, LP 4.50% 1/15/20291 | 8,195 | 7,302 | |
EQM Midstream Partners, LP 7.50% 6/1/20301 | 5,167 | 5,195 | |
EQM Midstream Partners, LP 4.75% 1/15/20311 | 8,961 | 7,723 | |
EQM Midstream Partners, LP 6.50% 7/15/2048 | 1,150 | 1,013 | |
EQT Corp. 5.00% 1/15/2029 | 1,080 | 1,016 | |
EQT Corp. 3.625% 5/15/20311 | 3,525 | 2,986 | |
Exxon Mobil Corp. 2.61% 10/15/2030 | 49,000 | 41,394 | |
FORESEA Holding SA 7.50% 6/15/2030 | 3,680 | 3,463 | |
Genesis Energy, LP 8.00% 1/15/2027 | 15,212 | 14,680 | |
Genesis Energy, LP 8.875% 4/15/2030 | 6,849 | 6,694 | |
GeoPark, Ltd. 5.50% 1/17/2027 | 6,300 | 5,408 | |
Guara Norte SARL 5.198% 6/15/2034 | 4,366 | 3,721 | |
Guara Norte SARL 5.198% 6/15/20341 | 1,680 | 1,432 | |
Harvest Midstream I, LP 7.50% 9/1/20281 | 11,290 | 10,925 | |
Hess Midstream Operations, LP 5.50% 10/15/20301 | 5,620 | 5,113 | |
Hilcorp Energy I, LP 5.75% 2/1/20291 | 5,380 | 4,864 | |
Hilcorp Energy I, LP 6.00% 4/15/20301 | 7,441 | 6,718 | |
Hilcorp Energy I, LP 6.00% 2/1/20311 | 5,340 | 4,718 | |
Hilcorp Energy I, LP 6.25% 4/15/20321 | 6,940 | 6,178 | |
Kinder Morgan, Inc. 4.80% 2/1/2033 | 20,000 | 18,044 | |
Kinder Morgan, Inc. 5.20% 6/1/2033 | 15,914 | 14,729 | |
Kinder Morgan, Inc. 5.20% 3/1/2048 | 15 | 12 | |
Kinder Morgan, Inc. 3.25% 8/1/2050 | 669 | 398 | |
Kinder Morgan, Inc. 5.45% 8/1/2052 | 6,191 | 5,269 | |
Leviathan Bond, Ltd. 6.75% 6/30/20301 | 5,870 | 5,420 | |
Magellan Midstream Partners, LP 3.95% 3/1/2050 | 1,000 | 670 | |
Mesquite Energy, Inc. 7.25% 2/15/20231,5 | 27 | 3 |
American Funds Multi-Sector Income Fund — Page 6 of 47
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Energy (continued) | Principal amount (000) | Value (000) | |
Modec Finance BV 7.84% 7/15/20267,8 | USD9,000 | $8,923 | |
MPLX, LP 2.65% 8/15/2030 | 651 | 526 | |
MPLX, LP 4.95% 9/1/2032 | 34,163 | 31,132 | |
MPLX, LP 4.70% 4/15/2048 | 5,900 | 4,478 | |
MPLX, LP 4.95% 3/14/2052 | 10,000 | 7,836 | |
Murphy Oil Corp. 5.875% 12/1/2027 | 4,000 | 3,886 | |
MV24 Capital BV 6.748% 6/1/2034 | 13,651 | 12,055 | |
Nabors Industries, Inc. 7.375% 5/15/20271 | 6,230 | 6,032 | |
New Fortress Energy, Inc. 6.75% 9/15/20251 | 7,680 | 7,340 | |
New Fortress Energy, Inc. 6.50% 9/30/20261 | 25,100 | 23,137 | |
NGL Energy Operating, LLC 7.50% 2/1/20261 | 39,765 | 39,364 | |
NGL Energy Partners, LP 7.50% 4/15/2026 | 1,695 | 1,640 | |
Noble Finance II, LLC 8.00% 4/15/20301 | 2,800 | 2,839 | |
Northern Oil and Gas, Inc. 8.125% 3/1/20281 | 16,385 | 16,382 | |
Northern Oil and Gas, Inc. 8.75% 6/15/20311 | 9,305 | 9,386 | |
NorthRiver Midstream Finance, LP 5.625% 2/15/20261 | 1,250 | 1,192 | |
NuStar Logistics, LP 5.75% 10/1/2025 | 700 | 681 | |
NuStar Logistics, LP 6.00% 6/1/2026 | 1,625 | 1,578 | |
NuStar Logistics, LP 5.625% 4/28/2027 | 3,600 | 3,433 | |
Occidental Petroleum Corp. 2.90% 8/15/2024 | 210 | 205 | |
Occidental Petroleum Corp. 5.875% 9/1/2025 | 3,920 | 3,904 | |
Occidental Petroleum Corp. 8.50% 7/15/2027 | 385 | 413 | |
Occidental Petroleum Corp. 8.875% 7/15/2030 | 5,630 | 6,336 | |
Occidental Petroleum Corp. 6.625% 9/1/2030 | 9,153 | 9,284 | |
Occidental Petroleum Corp. 6.125% 1/1/2031 | 5,540 | 5,466 | |
Occidental Petroleum Corp. 6.45% 9/15/2036 | 3,650 | 3,588 | |
Occidental Petroleum Corp. 6.20% 3/15/2040 | 605 | 577 | |
Occidental Petroleum Corp. 6.60% 3/15/2046 | 1,255 | 1,235 | |
Occidental Petroleum Corp. 4.40% 8/15/2049 | 1,972 | 1,359 | |
Oleoducto Central SA 4.00% 7/14/20271 | 5,210 | 4,647 | |
Oleoducto Central SA 4.00% 7/14/2027 | 1,250 | 1,115 | |
ONEOK, Inc. 5.55% 11/1/2026 | 2,157 | 2,143 | |
ONEOK, Inc. 5.65% 11/1/2028 | 2,790 | 2,755 | |
ONEOK, Inc. 5.80% 11/1/2030 | 4,767 | 4,669 | |
ONEOK, Inc. 6.05% 9/1/2033 | 35,455 | 34,853 | |
ONEOK, Inc. 5.20% 7/15/2048 | 582 | 477 | |
ONEOK, Inc. 4.45% 9/1/2049 | 1,600 | 1,153 | |
ONEOK, Inc. 4.50% 3/15/2050 | 2,000 | 1,454 | |
ONEOK, Inc. 6.625% 9/1/2053 | 26,936 | 26,408 | |
Permian Resources Operating, LLC 6.875% 4/1/20271 | 30 | 30 | |
Permian Resources Operating, LLC 5.875% 7/1/20291 | 11,000 | 10,362 | |
Petrobras Global Finance BV 8.75% 5/23/2026 | 2,500 | 2,666 | |
Petrobras Global Finance BV 7.375% 1/17/2027 | 1,600 | 1,650 | |
Petroleos Mexicanos 6.875% 10/16/2025 | 6,250 | 5,992 | |
Petroleos Mexicanos 6.875% 8/4/2026 | 120 | 111 | |
Petroleos Mexicanos 6.49% 1/23/2027 | 6,932 | 6,156 | |
Petroleos Mexicanos 8.75% 6/2/2029 | 5,791 | 5,137 | |
Petroleos Mexicanos 6.70% 2/16/2032 | 4,796 | 3,564 | |
Petroleos Mexicanos 6.95% 1/28/2060 | 5,000 | 2,965 | |
Petrorio Luxembourg SARL 6.125% 6/9/20261 | 6,090 | 5,886 | |
PTTEP Treasury Center Co., Ltd. 2.993% 1/15/2030 | 1,474 | 1,273 | |
Qatar Energy 3.125% 7/12/20411 | 7,050 | 4,886 | |
Range Resources Corp. 4.875% 5/15/2025 | 5,110 | 4,961 | |
Range Resources Corp. 8.25% 1/15/2029 | 5,290 | 5,428 |
American Funds Multi-Sector Income Fund — Page 7 of 47
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Energy (continued) | Principal amount (000) | Value (000) | |
Range Resources Corp. 4.75% 2/15/20301 | USD7,550 | $6,710 | |
Seadrill Finance, Ltd. 8.375% 8/1/20301 | 6,360 | 6,481 | |
Shell International Finance BV 2.75% 4/6/2030 | 6,441 | 5,543 | |
Shell International Finance BV 3.25% 4/6/2050 | 24 | 16 | |
Shell International Finance BV 3.00% 11/26/2051 | 15,178 | 9,490 | |
SM Energy Co. 6.50% 7/15/2028 | 590 | 567 | |
Southwestern Energy Co. 5.70% 1/23/20252 | 2,825 | 2,786 | |
Southwestern Energy Co. 8.375% 9/15/2028 | 9,335 | 9,645 | |
Southwestern Energy Co. 5.375% 3/15/2030 | 1,975 | 1,802 | |
Southwestern Energy Co. 4.75% 2/1/2032 | 2,145 | 1,843 | |
Suburban Propane Partners, LP 5.00% 6/1/20311 | 4,980 | 4,163 | |
Sunoco, LP 6.00% 4/15/2027 | 5,165 | 5,011 | |
Sunoco, LP 4.50% 5/15/2029 | 12,015 | 10,559 | |
Sunoco, LP 4.50% 4/30/2030 | 430 | 373 | |
Superior Plus, LP 4.50% 3/15/20291 | 4,853 | 4,223 | |
Targa Resources Partners, LP 6.50% 7/15/2027 | 415 | 419 | |
Targa Resources Partners, LP 6.875% 1/15/2029 | 15 | 15 | |
Targa Resources Partners, LP 4.875% 2/1/2031 | 774 | 694 | |
TotalEnergies Capital International SA 3.127% 5/29/2050 | 12,551 | 8,192 | |
Transocean Aquila, Ltd. 8.00% 9/30/20281 | 5,875 | 5,879 | |
Transocean Poseidon, Ltd. 6.875% 2/1/20271 | 7,970 | 7,855 | |
Transocean Titan Financing, Ltd. 8.375% 2/1/20281 | 11,101 | 11,305 | |
Transocean, Inc. 8.00% 2/1/20271 | 5,000 | 4,818 | |
Transocean, Inc. 8.75% 2/15/20301 | 12,626 | 12,921 | |
Transocean, Inc. 7.50% 4/15/2031 | 4,400 | 3,816 | |
Transocean, Inc. 6.80% 3/15/2038 | 7,850 | 5,983 | |
Venture Global Calcasieu Pass, LLC 6.25% 1/15/20301 | 5,824 | 5,561 | |
Venture Global Calcasieu Pass, LLC 4.125% 8/15/20311 | 17,220 | 14,148 | |
Venture Global LNG, Inc. 8.125% 6/1/20281 | 10,000 | 9,909 | |
Venture Global LNG, Inc. 8.375% 6/1/20311 | 10,000 | 9,840 | |
Vital Energy, Inc. 10.125% 1/15/2028 | 4,600 | 4,694 | |
Vital Energy, Inc. 9.75% 10/15/2030 | 6,930 | 7,091 | |
Weatherford International, Ltd. 6.50% 9/15/20281 | 895 | 896 | |
Western Midstream Operating, LP 3.10% 2/1/20252 | 2,165 | 2,073 | |
Western Midstream Operating, LP 4.50% 3/1/2028 | 7,115 | 6,627 | |
Western Midstream Operating, LP 4.75% 8/15/2028 | 3,005 | 2,813 | |
Western Midstream Operating, LP 4.05% 2/1/20302 | 22 | 19 | |
Western Midstream Operating, LP 6.15% 4/1/2033 | 5,256 | 5,075 | |
Western Midstream Operating, LP 5.25% 2/1/20502 | 200 | 156 | |
Williams Companies, Inc. 2.60% 3/15/2031 | 9,000 | 7,173 | |
Williams Companies, Inc. 4.65% 8/15/2032 | 7,500 | 6,827 | |
1,201,789 | |||
Consumer discretionary 7.54% | |||
Advance Auto Parts, Inc. 3.90% 4/15/2030 | 15,688 | 12,741 | |
Advance Auto Parts, Inc. 3.50% 3/15/2032 | 9,958 | 7,466 | |
Affinity Interactive 6.875% 12/15/20271 | 1,600 | 1,358 | |
Alibaba Group Holding, Ltd. 2.125% 2/9/2031 | 19,500 | 15,227 | |
Allied Universal Holdco, LLC 6.625% 7/15/20261 | 3,540 | 3,359 | |
Allied Universal Holdco, LLC 9.75% 7/15/20271 | 8,140 | 7,292 | |
Allied Universal Holdco, LLC 4.625% 6/1/20281 | 12,760 | 10,652 | |
Allied Universal Holdco, LLC 6.00% 6/1/20291 | 9,000 | 6,723 | |
Allwyn Entertainment Financing (UK) PLC 7.875% 4/30/20291 | 6,232 | 6,318 | |
Amazon.com, Inc. 1.65% 5/12/2028 | 7,330 | 6,313 |
American Funds Multi-Sector Income Fund — Page 8 of 47
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Consumer discretionary (continued) | Principal amount (000) | Value (000) | |
Amazon.com, Inc. 4.70% 12/1/2032 | USD8,820 | $8,427 | |
Arcos Dorados BV 6.125% 5/27/20291 | 2,000 | 1,902 | |
Arcos Dorados BV 6.125% 5/27/2029 | 460 | 437 | |
Arcos Dorados Holdings, Inc. 5.875% 4/4/2027 | 2,440 | 2,349 | |
Asbury Automotive Group, Inc. 4.625% 11/15/20291 | 13,675 | 11,763 | |
Asbury Automotive Group, Inc. 5.00% 2/15/20321 | 2,325 | 1,929 | |
Atlas LuxCo 4 SARL 4.625% 6/1/20281 | 14,810 | 12,316 | |
AutoNation, Inc. 3.85% 3/1/2032 | 8,000 | 6,510 | |
Bath & Body Works, Inc. 6.625% 10/1/20301 | 5,470 | 5,134 | |
Bath & Body Works, Inc. 6.875% 11/1/2035 | 12,922 | 11,555 | |
Bath & Body Works, Inc. 6.75% 7/1/2036 | 3,605 | 3,163 | |
Boyd Gaming Corp. 4.75% 12/1/2027 | 11,120 | 10,258 | |
Boyd Gaming Corp. 4.75% 6/15/20311 | 4,140 | 3,528 | |
Boyne USA, Inc. 4.75% 5/15/20291 | 16,545 | 14,491 | |
Caesars Entertainment, Inc. 6.25% 7/1/20251 | 655 | 647 | |
Caesars Entertainment, Inc. 4.625% 10/15/20291 | 6,999 | 5,937 | |
Caesars Entertainment, Inc. 7.00% 2/15/20301 | 20,610 | 20,077 | |
Caesars Resort Collection, LLC 5.75% 7/1/20251 | 11,275 | 11,236 | |
Carnival Corp. 5.75% 3/1/20271 | 19,000 | 17,216 | |
Carnival Corp. 4.00% 8/1/20281 | 3,500 | 3,038 | |
Carnival Corp. 6.00% 5/1/20291 | 28,585 | 24,416 | |
Carnival Corp. 7.00% 8/15/20291 | 10,920 | 10,778 | |
Carnival Corp. 10.50% 6/1/20301 | 6,625 | 6,829 | |
Cedar Fair, LP 5.50% 5/1/20251 | 11,900 | 11,664 | |
Clarios Global, LP 6.75% 5/15/20251 | 180 | 179 | |
Clarios Global, LP 6.25% 5/15/20261 | 140 | 137 | |
Clarios Global, LP 8.50% 5/15/20271 | 6,010 | 6,004 | |
Daimler Trucks Finance North America, LLC 2.50% 12/14/20311 | 8,204 | 6,404 | |
Empire Resorts, Inc. 7.75% 11/1/20261 | 10,370 | 8,464 | |
Everi Holdings, Inc. 5.00% 7/15/20291 | 2,310 | 1,991 | |
Fertitta Entertainment, LLC 4.625% 1/15/20291 | 8,000 | 6,789 | |
Fertitta Entertainment, LLC 6.75% 1/15/20301 | 10,000 | 8,163 | |
First Student Bidco, Inc. 4.00% 7/31/20291 | 15,250 | 12,922 | |
First Student Bidco, Inc., Term Loan B, (3-month USD CME Term SOFR + 3.00%) 8.501% 7/21/20283,4 | 469 | 457 | |
Ford Motor Co. 7.45% 7/16/2031 | 1,430 | 1,485 | |
Ford Motor Co. 6.10% 8/19/2032 | 22,570 | 21,282 | |
Ford Motor Credit Co., LLC 3.664% 9/8/2024 | 2,500 | 2,421 | |
Ford Motor Credit Co., LLC 2.30% 2/10/2025 | 5,175 | 4,859 | |
Ford Motor Credit Co., LLC 5.125% 6/16/2025 | 5,305 | 5,140 | |
Ford Motor Credit Co., LLC 4.134% 8/4/2025 | 1,630 | 1,547 | |
Ford Motor Credit Co., LLC 3.375% 11/13/2025 | 1,340 | 1,244 | |
Ford Motor Credit Co., LLC 6.95% 6/10/2026 | 14,901 | 14,899 | |
Ford Motor Credit Co., LLC 4.542% 8/1/2026 | 760 | 714 | |
Ford Motor Credit Co., LLC 2.70% 8/10/2026 | 15,976 | 14,272 | |
Ford Motor Credit Co., LLC 4.95% 5/28/2027 | 13,770 | 12,941 | |
Ford Motor Credit Co., LLC 4.125% 8/17/2027 | 3,680 | 3,355 | |
Ford Motor Credit Co., LLC 3.815% 11/2/2027 | 23,250 | 20,728 | |
Ford Motor Credit Co., LLC 5.113% 5/3/2029 | 4,030 | 3,693 | |
Ford Motor Credit Co., LLC 7.20% 6/10/2030 | 5,305 | 5,338 | |
Ford Motor Credit Co., LLC 4.00% 11/13/2030 | 1,720 | 1,438 | |
Grand Canyon University 4.375% 10/1/2026 | 6,750 | 6,446 | |
Hanesbrands, Inc. 4.875% 5/15/20261 | 7,444 | 6,833 | |
Hanesbrands, Inc. 9.00% 2/15/20311 | 22,902 | 21,855 | |
Hanesbrands, Inc., Term Loan B, (3-month USD CME Term SOFR + 3.75%) 9.066% 3/8/20303,4 | 11,772 | 11,565 |
American Funds Multi-Sector Income Fund — Page 9 of 47
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Consumer discretionary (continued) | Principal amount (000) | Value (000) | |
Hilton Domestic Operating Co., Inc. 4.875% 1/15/2030 | USD3,460 | $3,153 | |
Hilton Domestic Operating Co., Inc. 4.00% 5/1/20311 | 11,905 | 10,019 | |
Hilton Grand Vacations Borrower, LLC 5.00% 6/1/20291 | 470 | 408 | |
Home Depot, Inc. 2.70% 4/15/2030 | 50 | 43 | |
Home Depot, Inc. 1.375% 3/15/2031 | 7,750 | 5,869 | |
Home Depot, Inc. 3.25% 4/15/2032 | 14,682 | 12,602 | |
Home Depot, Inc. 3.125% 12/15/2049 | 135 | 88 | |
Hyundai Capital America 1.50% 6/15/20261 | 2,643 | 2,349 | |
Hyundai Capital America 2.00% 6/15/20281 | 3,827 | 3,182 | |
International Game Technology PLC 6.50% 2/15/20251 | 200 | 200 | |
International Game Technology PLC 4.125% 4/15/20261 | 565 | 532 | |
International Game Technology PLC 5.25% 1/15/20291 | 17,445 | 16,094 | |
LCM Investments Holdings II, LLC 4.875% 5/1/20291 | 12,243 | 10,424 | |
LCM Investments Holdings II, LLC 8.25% 8/1/20311 | 16,405 | 15,950 | |
Levi Strauss & Co. 3.50% 3/1/20311 | 9,775 | 7,741 | |
Light and Wonder International, Inc. 7.00% 5/15/20281 | 5,555 | 5,466 | |
Light and Wonder International, Inc. 7.25% 11/15/20291 | 7,580 | 7,437 | |
Light and Wonder International, Inc. 7.50% 9/1/20311 | 5,365 | 5,308 | |
Lithia Motors, Inc. 3.875% 6/1/20291 | 5,345 | 4,511 | |
Lithia Motors, Inc. 4.375% 1/15/20311 | 250 | 207 | |
Macy’s Retail Holdings, LLC 6.125% 3/15/20321 | 960 | 793 | |
Marriott International, Inc. 4.90% 4/15/2029 | 694 | 662 | |
Marriott International, Inc. 2.85% 4/15/2031 | 315 | 254 | |
Marriott International, Inc. 3.50% 10/15/2032 | 7,970 | 6,526 | |
Marriott International, Inc. 2.75% 10/15/2033 | 478 | 361 | |
Marriott Ownership Resorts, Inc. 4.50% 6/15/20291 | 12,570 | 10,545 | |
McDonald’s Corp. 3.60% 7/1/2030 | 1,084 | 968 | |
McDonald’s Corp. 4.60% 9/9/2032 | 342 | 322 | |
McDonald’s Corp. 4.95% 8/14/2033 | 268 | 256 | |
McDonald’s Corp. 5.15% 9/9/2052 | 2,165 | 1,943 | |
Meituan 3.05% 10/28/2030 | 6,200 | 4,819 | |
Meituan 3.05% 10/28/20301 | 900 | 700 | |
MercadoLibre, Inc. 2.375% 1/14/2026 | 1,200 | 1,096 | |
MercadoLibre, Inc. 3.125% 1/14/2031 | 3,525 | 2,777 | |
Merlin Entertainments PLC 5.75% 6/15/20261 | 200 | 192 | |
MGM Resorts International 5.75% 6/15/2025 | 4,050 | 3,960 | |
MGM Resorts International 5.50% 4/15/2027 | 53 | 49 | |
NCL Corp., Ltd. 5.875% 3/15/20261 | 1,250 | 1,156 | |
NCL Corp., Ltd. 5.875% 2/15/20271 | 2,280 | 2,170 | |
NCL Corp., Ltd. 7.75% 2/15/20291 | 2,925 | 2,718 | |
NCL Finance, Ltd. 6.125% 3/15/20281 | 2,500 | 2,209 | |
Neiman Marcus Group, Ltd., LLC 7.125% 4/1/20261 | 8,120 | 7,628 | |
Party City Holdings, Inc. 6.125% 8/15/20231,5 | 50 | 1 | |
Party City Holdings, Inc. 8.75% 2/15/20261,5 | 24,400 | 3,782 | |
Party City Holdings, Inc., Term Loan DIP, 15.31% 11/16/20233,4 | 4,232 | 4,381 | |
Premier Entertainment Sub, LLC 5.625% 9/1/20291 | 2,390 | 1,843 | |
QVC, Inc. 4.85% 4/1/2024 | 1,140 | 1,097 | |
RHP Hotel Properties, LP 7.25% 7/15/20281 | 9,690 | 9,529 | |
Royal Caribbean Cruises, Ltd. 4.25% 7/1/20261 | 12,260 | 11,253 | |
Royal Caribbean Cruises, Ltd. 3.70% 3/15/2028 | 11,780 | 9,979 | |
Royal Caribbean Cruises, Ltd. 5.50% 4/1/20281 | 14,800 | 13,584 | |
Royal Caribbean Cruises, Ltd. 8.25% 1/15/20291 | 20,090 | 20,855 | |
Royal Caribbean Cruises, Ltd. 9.25% 1/15/20291 | 770 | 814 | |
Royal Caribbean Cruises, Ltd. 7.25% 1/15/20301 | 3,784 | 3,755 |
American Funds Multi-Sector Income Fund — Page 10 of 47
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Consumer discretionary (continued) | Principal amount (000) | Value (000) | |
Sally Holdings, LLC 5.625% 12/1/2025 | USD2,510 | $2,449 | |
Sands China, Ltd. 4.875% 6/18/2030 | 8,280 | 7,156 | |
Sands China, Ltd. 3.50% 8/8/2031 | 10,000 | 7,921 | |
Scientific Games Holdings, LP 6.625% 3/1/20301 | 7,930 | 6,850 | |
Scientific Games Holdings, LP, Term Loan B, (3-month USD CME Term SOFR + 3.50%) 8.768% 4/4/20293,4 | 7,970 | 7,934 | |
Sonic Automotive, Inc. 4.625% 11/15/20291 | 20,670 | 17,162 | |
Sonic Automotive, Inc. 4.875% 11/15/20311 | 21,435 | 17,088 | |
Toyota Motor Corp. 5.118% 7/13/2028 | 6,410 | 6,380 | |
Toyota Motor Credit Corp. 1.90% 1/13/2027 | 9,470 | 8,496 | |
Universal Entertainment Corp. 8.75% 12/11/20241 | 8,580 | 9,145 | |
Vail Resorts, Inc. 6.25% 5/15/20251 | 9,932 | 9,888 | |
WASH Multifamily Acquisition, Inc. 5.75% 4/15/20261 | 22,715 | 21,236 | |
Wyndham Hotels & Resorts, Inc. 4.375% 8/15/20281 | 13,385 | 12,034 | |
Wynn Resorts Finance, LLC 5.125% 10/1/20291 | 17,300 | 15,144 | |
Wynn Resorts Finance, LLC 7.125% 2/15/20311 | 18,104 | 17,207 | |
907,264 | |||
Health care 6.80% | |||
AbbVie, Inc. 3.20% 11/21/2029 | 8,050 | 7,108 | |
AbbVie, Inc. 4.05% 11/21/2039 | 1,500 | 1,228 | |
AbbVie, Inc. 4.25% 11/21/2049 | 325 | 258 | |
AdaptHealth, LLC 4.625% 8/1/20291 | 4,625 | 3,555 | |
AdaptHealth, LLC 5.125% 3/1/20301 | 7,605 | 5,900 | |
Amgen, Inc. 5.15% 3/2/2028 | 21,120 | 20,779 | |
Amgen, Inc. 5.25% 3/2/2030 | 29,132 | 28,473 | |
Amgen, Inc. 4.20% 3/1/2033 | 14,000 | 12,456 | |
Amgen, Inc. 5.25% 3/2/2033 | 18,651 | 17,838 | |
Amgen, Inc. 5.60% 3/2/2043 | 3,740 | 3,479 | |
Amgen, Inc. 3.00% 1/15/2052 | 100 | 60 | |
Amgen, Inc. 4.875% 3/1/2053 | 5,675 | 4,725 | |
Amgen, Inc. 5.65% 3/2/2053 | 12,803 | 11,992 | |
Amgen, Inc. 5.75% 3/2/2063 | 21,310 | 19,676 | |
AstraZeneca Finance, LLC 1.75% 5/28/2028 | 5,266 | 4,511 | |
AstraZeneca Finance, LLC 4.90% 3/3/2030 | 9,240 | 9,006 | |
AstraZeneca Finance, LLC 2.25% 5/28/2031 | 65 | 52 | |
AstraZeneca PLC 1.375% 8/6/2030 | 56 | 43 | |
AthenaHealth Group, Inc. 6.50% 2/15/20301 | 3,125 | 2,618 | |
Avantor Funding, Inc. 4.625% 7/15/20281 | 7,160 | 6,535 | |
Avantor Funding, Inc. 3.875% 11/1/20291 | 11,375 | 9,735 | |
Bausch Health Americas, Inc. 9.25% 4/1/20261 | 2,930 | 2,654 | |
Bausch Health Americas, Inc. 8.50% 1/31/20271 | 8,000 | 4,072 | |
Bausch Health Companies, Inc. 5.50% 11/1/20251 | 14,460 | 12,829 | |
Bausch Health Companies, Inc. 9.00% 12/15/20251 | 2,430 | 2,214 | |
Bausch Health Companies, Inc. 5.75% 8/15/20271 | 200 | 119 | |
Bausch Health Companies, Inc. 5.00% 2/15/20291 | 14,000 | 5,383 | |
Bausch Health Companies, Inc. 5.25% 1/30/20301 | 1,220 | 460 | |
Bausch Health Companies, Inc. 5.25% 2/15/20311 | 18,304 | 7,051 | |
Baxter International, Inc. 1.915% 2/1/2027 | 2,150 | 1,897 | |
Baxter International, Inc. 2.272% 12/1/2028 | 11,125 | 9,388 | |
Baxter International, Inc. 2.539% 2/1/2032 | 27,032 | 20,942 | |
Baxter International, Inc. 3.132% 12/1/2051 | 8,657 | 5,159 | |
Boston Scientific Corp. 2.65% 6/1/2030 | 4,484 | 3,750 | |
Catalent Pharma Solutions, Inc. 5.00% 7/15/20271 | 4,785 | 4,395 | |
Catalent Pharma Solutions, Inc. 3.125% 2/15/20291 | 7,225 | 5,933 |
American Funds Multi-Sector Income Fund — Page 11 of 47
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Health care (continued) | Principal amount (000) | Value (000) | |
Catalent Pharma Solutions, Inc. 3.50% 4/1/20301 | USD5,041 | $4,157 | |
Cencora, Inc. 2.80% 5/15/2030 | 2,607 | 2,187 | |
Cencora, Inc. 2.70% 3/15/2031 | 2,423 | 1,974 | |
Centene Corp. 2.45% 7/15/2028 | 24,620 | 20,821 | |
Centene Corp. 4.625% 12/15/2029 | 30,621 | 27,614 | |
Centene Corp. 3.375% 2/15/2030 | 644 | 538 | |
Centene Corp. 3.00% 10/15/2030 | 610 | 493 | |
Centene Corp. 2.50% 3/1/2031 | 5,104 | 3,927 | |
Centene Corp. 2.625% 8/1/2031 | 4,440 | 3,406 | |
Charles River Laboratories International, Inc. 4.25% 5/1/20281 | 3,618 | 3,248 | |
Charles River Laboratories International, Inc. 3.75% 3/15/20291 | 5,730 | 4,919 | |
Charles River Laboratories International, Inc. 4.00% 3/15/20311 | 2,340 | 1,983 | |
CHS / Community Health Systems, Inc. 5.625% 3/15/20271 | 12,620 | 10,841 | |
CHS / Community Health Systems, Inc. 6.00% 1/15/20291 | 165 | 133 | |
CHS / Community Health Systems, Inc. 6.875% 4/15/20291 | 1,200 | 639 | |
Cigna Group (The) 2.375% 3/15/2031 | 46 | 37 | |
CVS Health Corp. 1.75% 8/21/2030 | 3,625 | 2,791 | |
CVS Health Corp. 5.25% 2/21/2033 | 13,264 | 12,572 | |
CVS Health Corp. 5.30% 6/1/2033 | 12,000 | 11,374 | |
CVS Health Corp. 5.625% 2/21/2053 | 2,470 | 2,222 | |
CVS Health Corp. 5.875% 6/1/2053 | 4,934 | 4,567 | |
CVS Health Corp. 6.00% 6/1/2063 | 2,344 | 2,155 | |
Elevance Health, Inc. 4.75% 2/15/2033 | 705 | 657 | |
Eli Lilly and Co. 4.70% 2/27/2033 | 9,492 | 9,141 | |
Eli Lilly and Co. 4.95% 2/27/2063 | 865 | 786 | |
Encompass Health Corp. 4.50% 2/1/2028 | 3,442 | 3,140 | |
Encompass Health Corp. 4.75% 2/1/2030 | 3,490 | 3,093 | |
Endo DAC 9.50% 7/31/20271,5 | 705 | 50 | |
Endo DAC 6.00% 6/30/20281,5 | 1,250 | 91 | |
Endo Luxembourg Finance Co. I SARL 6.125% 4/1/20291 | 3,610 | 2,570 | |
Fortrea Holdings, Inc. 7.50% 7/1/20301 | 10,150 | 9,889 | |
Fortrea Holdings, Inc., Term Loan B, (3-month USD CME Term SOFR + 3.75%) 5.05% 6/30/20303,4 | 1,591 | 1,590 | |
GE HealthCare Technologies, Inc. 5.857% 3/15/2030 | 2,710 | 2,690 | |
GE HealthCare Technologies, Inc. 5.905% 11/22/2032 | 15,140 | 15,031 | |
GE HealthCare Technologies, Inc. 6.377% 11/22/2052 | 2,625 | 2,670 | |
Gilead Sciences, Inc. 5.25% 10/15/2033 | 7,361 | 7,183 | |
Gilead Sciences, Inc. 2.80% 10/1/2050 | 225 | 136 | |
Grifols SA 4.75% 10/15/20281 | 4,380 | 3,740 | |
HCA, Inc. 5.375% 9/1/2026 | 425 | 417 | |
HCA, Inc. 5.625% 9/1/2028 | 4,360 | 4,254 | |
HCA, Inc. 5.875% 2/1/2029 | 2,870 | 2,825 | |
HCA, Inc. 3.50% 9/1/2030 | 1,156 | 978 | |
HCA, Inc. 2.375% 7/15/2031 | 10,953 | 8,391 | |
HealthEquity, Inc. 4.50% 10/1/20291 | 8,085 | 6,974 | |
IQVIA, Inc. 5.00% 10/15/20261 | 8,105 | 7,757 | |
IQVIA, Inc. 6.50% 5/15/20301 | 4,305 | 4,219 | |
Kaiser Foundation Hospitals 2.81% 6/1/2041 | 355 | 239 | |
Mass General Brigham, Inc. 3.192% 7/1/2049 | 42 | 28 | |
Medline Borrower, LP 3.875% 4/1/20291 | 1,560 | 1,320 | |
Medline Borrower, LP 5.25% 10/1/20291 | 16,310 | 14,116 | |
Medline Borrower, LP, Term Loan, (3-month USD CME Term SOFR + 3.25%) 8.681% 10/23/20283,4 | 2,670 | 2,666 | |
Merck & Co., Inc. 5.00% 5/17/2053 | 2,180 | 1,984 | |
Merck & Co., Inc. 5.15% 5/17/2063 | 3,990 | 3,642 | |
Molina Healthcare, Inc. 4.375% 6/15/20281 | 5,681 | 5,097 |
American Funds Multi-Sector Income Fund — Page 12 of 47
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Health care (continued) | Principal amount (000) | Value (000) | |
Molina Healthcare, Inc. 3.875% 11/15/20301 | USD10,000 | $8,288 | |
Molina Healthcare, Inc. 3.875% 5/15/20321 | 33,930 | 27,254 | |
Option Care Health, Inc. 4.375% 10/31/20291 | 3,560 | 3,079 | |
Owens & Minor, Inc. 6.625% 4/1/20301 | 30,980 | 27,531 | |
Par Pharmaceutical, Inc. 7.50% 4/1/20271 | 4,600 | 3,284 | |
Pfizer Investment Enterprises Pte., Ltd. 4.75% 5/19/2033 | 23,308 | 22,042 | |
Pfizer Investment Enterprises Pte., Ltd. 5.11% 5/19/2043 | 10,000 | 9,189 | |
Pfizer Investment Enterprises Pte., Ltd. 5.30% 5/19/2053 | 3,462 | 3,219 | |
Pfizer, Inc. 3.45% 3/15/2029 | 383 | 353 | |
Radiology Partners, Inc. 9.25% 2/1/20281 | 12,830 | 5,087 | |
Radiology Partners, Inc., Term Loan, (1-month USD CME Term SOFR + 4.25%) 10.179% 7/9/20253,4 | 5,573 | 4,229 | |
Rede D’Or Finance SARL 4.95% 1/17/2028 | 590 | 539 | |
Rede D’Or Finance SARL 4.50% 1/22/2030 | 2,590 | 2,191 | |
Roche Holdings, Inc. 2.076% 12/13/20311 | 4,231 | 3,340 | |
RP Escrow Issuer, LLC 5.25% 12/15/20251 | 19,085 | 13,873 | |
Select Medical Corp. 6.25% 8/15/20261 | 6,196 | 6,059 | |
Summa Health 3.511% 11/15/2051 | 1,325 | 860 | |
Surgery Center Holdings, Inc. 10.00% 4/15/20271 | 3,802 | 3,848 | |
Team Health Holdings, Inc., Term Loan B, (3-month USD CME Term SOFR + 5.25%) 10.566% 3/2/20273,4 | 795 | 608 | |
Tenet Healthcare Corp. 4.875% 1/1/2026 | 4,440 | 4,258 | |
Tenet Healthcare Corp. 6.25% 2/1/2027 | 440 | 426 | |
Tenet Healthcare Corp. 6.125% 10/1/2028 | 7,730 | 7,264 | |
Tenet Healthcare Corp. 4.375% 1/15/2030 | 6,000 | 5,168 | |
Tenet Healthcare Corp. 6.75% 5/15/20311 | 8,780 | 8,479 | |
Teva Pharmaceutical Finance Netherlands III BV 6.00% 4/15/2024 | 943 | 939 | |
Teva Pharmaceutical Finance Netherlands III BV 3.15% 10/1/2026 | 24,675 | 22,013 | |
Teva Pharmaceutical Finance Netherlands III BV 4.75% 5/9/2027 | 21,075 | 19,363 | |
Teva Pharmaceutical Finance Netherlands III BV 6.75% 3/1/2028 | 28,260 | 27,775 | |
Teva Pharmaceutical Finance Netherlands III BV 5.125% 5/9/2029 | 29,085 | 26,326 | |
Teva Pharmaceutical Finance Netherlands III BV 7.875% 9/15/2029 | 8,340 | 8,459 | |
Teva Pharmaceutical Finance Netherlands III BV 8.125% 9/15/2031 | 14,281 | 14,792 | |
Teva Pharmaceutical Finance Netherlands III BV 4.10% 10/1/2046 | 12,000 | 7,527 | |
Thermo Fisher Scientific, Inc. 5.086% 8/10/2033 | 3,932 | 3,804 | |
UnitedHealth Group, Inc. 2.90% 5/15/2050 | 10,868 | 6,684 | |
UnitedHealth Group, Inc. 3.25% 5/15/2051 | 221 | 145 | |
UnitedHealth Group, Inc. 4.75% 5/15/2052 | 1,210 | 1,032 | |
UnitedHealth Group, Inc. 4.95% 5/15/2062 | 159 | 137 | |
UnitedHealth Group, Inc. 6.05% 2/15/2063 | 124 | 126 | |
Zoetis, Inc. 5.60% 11/16/2032 | 1,925 | 1,918 | |
817,743 | |||
Communication services 5.88% | |||
Altice France Holding SA 10.50% 5/15/20271 | 1,520 | 950 | |
Altice France SA 5.125% 7/15/20291 | 5,813 | 4,141 | |
América Móvil, SAB de CV 4.70% 7/21/2032 | 10,000 | 9,229 | |
AT&T, Inc. 2.25% 2/1/2032 | 500 | 377 | |
AT&T, Inc. 2.55% 12/1/2033 | 386 | 284 | |
AT&T, Inc. 3.55% 9/15/2055 | 16,185 | 9,918 | |
Axiata SPV5 (Labuan), Ltd. 3.064% 8/19/2050 | 6,300 | 3,884 | |
CCO Holdings, LLC 5.00% 2/1/20281 | 4,885 | 4,442 | |
CCO Holdings, LLC 6.375% 9/1/20291 | 13,275 | 12,392 | |
CCO Holdings, LLC 4.75% 3/1/20301 | 16,200 | 13,619 | |
CCO Holdings, LLC 4.50% 8/15/20301 | 9,135 | 7,510 | |
CCO Holdings, LLC 4.25% 2/1/20311 | 14,700 | 11,716 |
American Funds Multi-Sector Income Fund — Page 13 of 47
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Communication services (continued) | Principal amount (000) | Value (000) | |
CCO Holdings, LLC 4.75% 2/1/20321 | USD8,000 | $6,409 | |
CCO Holdings, LLC 4.50% 5/1/2032 | 2,445 | 1,921 | |
CCO Holdings, LLC 4.50% 6/1/20331 | 31,420 | 24,075 | |
CCO Holdings, LLC 4.25% 1/15/20341 | 15,500 | 11,429 | |
Charter Communications Operating, LLC 2.30% 2/1/2032 | 6,600 | 4,813 | |
Charter Communications Operating, LLC 4.40% 4/1/2033 | 11,365 | 9,672 | |
Charter Communications Operating, LLC 3.70% 4/1/2051 | 47,750 | 27,817 | |
Charter Communications Operating, LLC 3.90% 6/1/2052 | 710 | 425 | |
Charter Communications Operating, LLC 5.25% 4/1/2053 | 13,590 | 10,169 | |
Comcast Corp. 2.65% 2/1/2030 | 200 | 169 | |
Comcast Corp. 1.50% 2/15/2031 | 1,537 | 1,162 | |
Comcast Corp. 4.80% 5/15/2033 | 16,887 | 15,849 | |
Comcast Corp. 3.75% 4/1/2040 | 15 | 12 | |
Comcast Corp. 2.887% 11/1/2051 | 1,555 | 917 | |
Comcast Corp. 5.35% 5/15/2053 | 12,445 | 11,357 | |
Connect Finco SARL 6.75% 10/1/20261 | 230 | 215 | |
Consolidated Communications, Inc. 5.00% 10/1/20281 | 1,400 | 1,041 | |
Diamond Sports Group, LLC 6.625% 8/15/20271,5 | 3,175 | 66 | |
DIRECTV Financing, LLC 5.875% 8/15/20271 | 12,385 | 10,966 | |
DIRECTV Financing, LLC, Term Loan, (3-month USD CME Term SOFR + 5.00%) 10.431% 8/2/20273,4 | 3,912 | 3,828 | |
DISH DBS Corp. 5.875% 11/15/2024 | 24,820 | 23,142 | |
DISH DBS Corp. 7.75% 7/1/2026 | 5,975 | 4,491 | |
DISH Network Corp. 11.75% 11/15/20271 | 20,200 | 20,381 | |
Embarq Corp. 7.995% 6/1/2036 | 1,905 | 1,076 | |
Frontier Communications Holdings, LLC 6.75% 5/1/20291 | 20,842 | 16,063 | |
Frontier Communications Holdings, LLC 5.875% 11/1/2029 | 1,709 | 1,250 | |
Gray Escrow II, Inc. 5.375% 11/15/20311 | 20,795 | 13,636 | |
Gray Television, Inc. 5.875% 7/15/20261 | 11,380 | 10,239 | |
Gray Television, Inc. 4.75% 10/15/20301 | 7,680 | 5,097 | |
iHeartCommunications, Inc. 5.25% 8/15/20271 | 620 | 492 | |
Lamar Media Corp. 4.875% 1/15/2029 | 4,530 | 4,107 | |
Lamar Media Corp. 4.00% 2/15/2030 | 5,930 | 5,032 | |
Lamar Media Corp. 3.625% 1/15/2031 | 7,090 | 5,781 | |
Ligado Networks, LLC 15.50% PIK 11/1/20231,6 | 2,000 | 723 | |
Live Nation Entertainment, Inc. 4.75% 10/15/20271 | 4,010 | 3,676 | |
Meta Platforms, Inc. 3.85% 8/15/2032 | 47,000 | 41,721 | |
Meta Platforms, Inc. 4.45% 8/15/2052 | 40,000 | 31,691 | |
Midas OpCo Holdings, LLC 5.625% 8/15/20291 | 8,145 | 6,587 | |
Netflix, Inc. 4.875% 4/15/2028 | 18,225 | 17,678 | |
Netflix, Inc. 5.875% 11/15/2028 | 13,625 | 13,736 | |
Netflix, Inc. 5.375% 11/15/20291 | 11,510 | 11,245 | |
Netflix, Inc. 4.875% 6/15/20301 | 3,502 | 3,320 | |
News Corp. 3.875% 5/15/20291 | 22,325 | 19,223 | |
News Corp. 5.125% 2/15/20321 | 7,010 | 6,132 | |
Nexstar Media, Inc. 4.75% 11/1/20281 | 15,970 | 13,238 | |
OUTFRONT Media Capital, LLC 4.25% 1/15/20291 | 3,000 | 2,384 | |
OUTFRONT Media Capital, LLC 4.625% 3/15/20301 | 1,990 | 1,567 | |
PLDT, Inc. 2.50% 1/23/2031 | 5,500 | 4,380 | |
SBA Tower Trust 1.631% 11/15/20261 | 4,000 | 3,464 | |
Scripps Escrow II, Inc. 3.875% 1/15/20291 | 1,500 | 1,130 | |
Sirius XM Radio, Inc. 3.125% 9/1/20261 | 2,310 | 2,061 | |
Sirius XM Radio, Inc. 4.00% 7/15/20281 | 10,305 | 8,807 | |
Sirius XM Radio, Inc. 4.125% 7/1/20301 | 5,970 | 4,787 | |
Sirius XM Radio, Inc. 3.875% 9/1/20311 | 31,215 | 23,674 |
American Funds Multi-Sector Income Fund — Page 14 of 47
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Communication services (continued) | Principal amount (000) | Value (000) | |
Tencent Holdings, Ltd. 3.975% 4/11/2029 | USD2,400 | $2,179 | |
Tencent Holdings, Ltd. 3.68% 4/22/2041 | 1,675 | 1,159 | |
Tencent Holdings, Ltd. 3.24% 6/3/20501 | 12,134 | 6,996 | |
Tencent Holdings, Ltd. 3.24% 6/3/2050 | 6,356 | 3,665 | |
Tencent Holdings, Ltd. 3.84% 4/22/2051 | 21,072 | 13,468 | |
Tencent Holdings, Ltd. 3.84% 4/22/20511 | 2,977 | 1,903 | |
T-Mobile USA, Inc. 3.875% 4/15/2030 | 300 | 266 | |
T-Mobile USA, Inc. 2.55% 2/15/2031 | 23,268 | 18,523 | |
T-Mobile USA, Inc. 5.05% 7/15/2033 | 4,423 | 4,105 | |
T-Mobile USA, Inc. 5.75% 1/15/2034 | 1,735 | 1,693 | |
T-Mobile USA, Inc. 3.40% 10/15/2052 | 1,160 | 725 | |
T-Mobile USA, Inc. 6.00% 6/15/2054 | 706 | 673 | |
Univision Communications, Inc. 5.125% 2/15/20251 | 538 | 525 | |
Univision Communications, Inc. 8.00% 8/15/20281 | 2,090 | 2,028 | |
Univision Communications, Inc. 4.50% 5/1/20291 | 39,169 | 31,935 | |
Univision Communications, Inc. 7.375% 6/30/20301 | 19,796 | 18,116 | |
UPC Broadband Finco BV 4.875% 7/15/20311 | 8,130 | 6,606 | |
Verizon Communications, Inc. 1.75% 1/20/2031 | 17,784 | 13,409 | |
Verizon Communications, Inc. 2.55% 3/21/2031 | 899 | 716 | |
Verizon Communications, Inc. 3.40% 3/22/2041 | 2,243 | 1,591 | |
Virgin Media Secured Finance PLC 4.50% 8/15/20301 | 765 | 633 | |
VMED O2 UK Financing I PLC 4.25% 1/31/20311 | 610 | 486 | |
VZ Secured Financing BV 5.00% 1/15/20321 | 8,090 | 6,364 | |
WMG Acquisition Corp. 3.75% 12/1/20291 | 4,090 | 3,440 | |
WMG Acquisition Corp. 3.875% 7/15/20301 | 9,610 | 8,128 | |
WMG Acquisition Corp. 3.00% 2/15/20311 | 2,410 | 1,895 | |
Ziggo Bond Co. BV 5.125% 2/28/20301 | 1,300 | 971 | |
Ziggo BV 4.875% 1/15/20301 | 2,600 | 2,121 | |
707,104 | |||
Industrials 5.62% | |||
ADT Security Corp. 4.125% 8/1/20291 | 2,230 | 1,888 | |
Ashtead Capital, Inc. 5.50% 8/11/20321 | 8,859 | 8,194 | |
Atkore, Inc. 4.25% 6/1/20311 | 5,750 | 4,842 | |
Atlantic Aviation FBO, Inc., Term Loan, (3-month USD CME Term SOFR + 2.75%) 8.181% 9/22/20283,4 | 3,930 | 3,910 | |
Avis Budget Car Rental, LLC 4.75% 4/1/20281 | 1,090 | 956 | |
Avis Budget Car Rental, LLC 5.375% 3/1/20291 | 2,130 | 1,895 | |
BOC Aviation, Ltd. 3.00% 9/11/2029 | 2,579 | 2,222 | |
BOC Aviation, Ltd. 2.625% 9/17/2030 | 1,121 | 920 | |
Boeing Co. 2.75% 2/1/2026 | 500 | 467 | |
Boeing Co. 2.196% 2/4/2026 | 25 | 23 | |
Boeing Co. 3.25% 2/1/2028 | 1,078 | 973 | |
Boeing Co. 5.15% 5/1/2030 | 57,246 | 54,716 | |
Boeing Co. 3.625% 2/1/2031 | 4,004 | 3,461 | |
Boeing Co. 3.50% 3/1/2039 | 7,463 | 5,333 | |
Boeing Co. 5.705% 5/1/2040 | 5,363 | 4,952 | |
Boeing Co. 3.75% 2/1/2050 | 83 | 56 | |
Bombardier, Inc. 7.125% 6/15/20261 | 18,200 | 17,651 | |
Bombardier, Inc. 7.875% 4/15/20271 | 13,320 | 13,008 | |
Bombardier, Inc. 6.00% 2/15/20281 | 10,940 | 9,936 | |
Bombardier, Inc. 7.50% 2/1/20291 | 25,279 | 24,022 | |
Burlington Northern Santa Fe, LLC 3.55% 2/15/2050 | 750 | 534 | |
Burlington Northern Santa Fe, LLC 3.30% 9/15/2051 | 479 | 322 | |
Burlington Northern Santa Fe, LLC 2.875% 6/15/2052 | 3,710 | 2,288 |
American Funds Multi-Sector Income Fund — Page 15 of 47
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Industrials (continued) | Principal amount (000) | Value (000) | |
Burlington Northern Santa Fe, LLC 5.20% 4/15/2054 | USD9,990 | $9,166 | |
BWX Technologies, Inc. 4.125% 6/30/20281 | 8,135 | 7,201 | |
BWX Technologies, Inc. 4.125% 4/15/20291 | 3,415 | 2,999 | |
Canadian Pacific Railway Co. 1.75% 12/2/2026 | 435 | 388 | |
Canadian Pacific Railway Co. 3.10% 12/2/2051 | 23,487 | 14,712 | |
Clarivate Science Holdings Corp. 3.875% 7/1/20281 | 4,000 | 3,468 | |
Clarivate Science Holdings Corp. 4.875% 7/1/20291 | 5,600 | 4,780 | |
Clean Harbors, Inc. 6.375% 2/1/20311 | 5,635 | 5,486 | |
CoreLogic, Inc. 4.50% 5/1/20281 | 10,500 | 7,982 | |
CoreLogic, Inc., Term Loan, (3-month USD CME Term SOFR + 3.50%) 8.931% 6/2/20283,4 | 9,143 | 8,471 | |
CoreLogic, Inc., Term Loan, (3-month USD CME Term SOFR + 6.50%) 11.931% 6/4/20293,4 | 4,225 | 3,546 | |
Cornerstone Building Brands, Inc., Term Loan B, (1-month USD CME Term SOFR + 3.25%) 8.682% 4/12/20283,4 | 143 | 140 | |
Covanta Holding Corp. 4.875% 12/1/20291 | 8,120 | 6,674 | |
CSX Corp. 4.10% 11/15/2032 | 4,479 | 4,032 | |
CSX Corp. 5.20% 11/15/2033 | 3,166 | 3,064 | |
CSX Corp. 4.50% 3/15/2049 | 25 | 20 | |
CSX Corp. 2.50% 5/15/2051 | 4,765 | 2,663 | |
Dun & Bradstreet Corp. (The) 5.00% 12/15/20291 | 14,963 | 12,919 | |
Empresa de Transporte de Pasajeros Metro SA 4.70% 5/7/20501 | 400 | 312 | |
Enviri Corp. 5.75% 7/31/20271 | 6,254 | 5,508 | |
General Dynamics Corp. 1.15% 6/1/2026 | 4,600 | 4,127 | |
General Dynamics Corp. 3.625% 4/1/2030 | 5,230 | 4,742 | |
Hidrovias International Finance SARL 4.95% 2/8/2031 | 4,800 | 3,856 | |
Howmet Aerospace, Inc. 6.875% 5/1/2025 | 1,085 | 1,090 | |
Icahn Enterprises, LP 4.75% 9/15/2024 | 9,226 | 8,894 | |
Icahn Enterprises, LP 6.375% 12/15/2025 | 7,554 | 7,196 | |
Icahn Enterprises, LP 6.25% 5/15/2026 | 5,355 | 4,981 | |
Ingersoll-Rand, Inc. 5.70% 8/14/2033 | 1,046 | 1,010 | |
John Deere Capital Corp. 5.15% 9/8/2033 | 1,963 | 1,920 | |
KKR Apple Bidco, LLC, Term Loan B, (3-month USD CME Term SOFR + 4.00%) 9.316% 9/22/20283,4 | 5,408 | 5,410 | |
Lima Metro Line 2 Finance, Ltd. 5.875% 7/5/20341 | 4,110 | 3,969 | |
Lima Metro Line 2 Finance, Ltd. 5.875% 7/5/2034 | 3,613 | 3,489 | |
Lockheed Martin Corp. 1.85% 6/15/2030 | 2,497 | 2,016 | |
Lockheed Martin Corp. 3.90% 6/15/2032 | 2,230 | 2,001 | |
Lockheed Martin Corp. 5.25% 1/15/2033 | 6,770 | 6,692 | |
LSC Communications, Inc. 8.75% 10/15/20231,5,7 | 45 | — 9 | |
Mexico City Airport Trust 4.25% 10/31/2026 | 5,400 | 5,079 | |
Mexico City Airport Trust 3.875% 4/30/2028 | 5,000 | 4,525 | |
Mileage Plus Holdings, LLC 6.50% 6/20/20271 | 9,941 | 9,860 | |
Moog, Inc. 4.25% 12/9/20271 | 7,691 | 6,953 | |
Mueller Water Products, Inc. 4.00% 6/15/20291 | 1,200 | 1,046 | |
Norfolk Southern Corp. 5.05% 8/1/2030 | 2,788 | 2,688 | |
Norfolk Southern Corp. 4.45% 3/1/2033 | 1,343 | 1,227 | |
Norfolk Southern Corp. 5.35% 8/1/2054 | 18,520 | 16,938 | |
Northrop Grumman Corp. 4.70% 3/15/2033 | 16,114 | 15,050 | |
PGT Innovations, Inc. 4.375% 10/1/20291 | 7,830 | 7,228 | |
PM General Purchaser, LLC 9.50% 10/1/20281 | 5,980 | 5,566 | |
Regal Rexnord Corp. 6.30% 2/15/20301 | 20,000 | 19,335 | |
Regal Rexnord Corp. 6.40% 4/15/20331 | 20,000 | 19,285 | |
Republic Services, Inc. 1.45% 2/15/2031 | 6,195 | 4,661 | |
Ritchie Bros. Holdings, Inc. 6.75% 3/15/20281 | 8,690 | 8,681 | |
Ritchie Bros. Holdings, Inc. 7.75% 3/15/20311 | 13,720 | 13,943 | |
RTX Corp. 1.90% 9/1/2031 | 5,776 | 4,374 |
American Funds Multi-Sector Income Fund — Page 16 of 47
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Industrials (continued) | Principal amount (000) | Value (000) | |
RTX Corp. 2.375% 3/15/2032 | USD17,599 | $13,599 | |
RTX Corp. 5.15% 2/27/2033 | 9,474 | 8,976 | |
Sensata Technologies BV 4.00% 4/15/20291 | 13,995 | 12,064 | |
Sensata Technologies, Inc. 3.75% 2/15/20311 | 150 | 122 | |
SkyMiles IP, Ltd. 4.75% 10/20/20281 | 770 | 732 | |
SkyMiles IP, Ltd., Term Loan, (3-month USD CME Term SOFR + 3.75%) 9.076% 10/20/20273,4 | 638 | 662 | |
Spirit AeroSystems, Inc. 4.60% 6/15/2028 | 27,005 | 21,079 | |
Spirit AeroSystems, Inc. 9.375% 11/30/20291 | 15,049 | 15,333 | |
SRS Distribution, Inc. 4.625% 7/1/20281 | 5,810 | 5,027 | |
SRS Distribution, Inc. 6.125% 7/1/20291 | 470 | 401 | |
Stericycle, Inc. 3.875% 1/15/20291 | 11,010 | 9,506 | |
TransDigm, Inc. 6.25% 3/15/20261 | 5,680 | 5,586 | |
TransDigm, Inc. 7.50% 3/15/2027 | 590 | 592 | |
TransDigm, Inc. 5.50% 11/15/2027 | 3,400 | 3,187 | |
TransDigm, Inc. 6.75% 8/15/20281 | 9,080 | 8,951 | |
TransDigm, Inc. 4.625% 1/15/2029 | 12,015 | 10,507 | |
TransDigm, Inc. 4.875% 5/1/2029 | 1,990 | 1,751 | |
Triumph Group, Inc. 9.00% 3/15/20281 | 19,632 | 19,437 | |
Uber Technologies, Inc. 8.00% 11/1/20261 | 13,360 | 13,531 | |
Union Pacific Corp. 2.80% 2/14/2032 | 13,200 | 10,901 | |
Union Pacific Corp. 4.30% 3/1/2049 | 75 | 60 | |
Union Pacific Corp. 3.25% 2/5/2050 | 13 | 9 | |
Union Pacific Corp. 2.95% 3/10/2052 | 8,965 | 5,530 | |
United Airlines, Inc. 4.375% 4/15/20261 | 1,620 | 1,500 | |
United Airlines, Inc. 4.625% 4/15/20291 | 1,315 | 1,132 | |
United Rentals (North America), Inc. 5.25% 1/15/2030 | 5,300 | 4,909 | |
United Rentals (North America), Inc. 3.75% 1/15/2032 | 4,600 | 3,718 | |
Waste Management, Inc. 4.625% 2/15/2030 | 10,000 | 9,558 | |
Waste Management, Inc. 4.625% 2/15/2033 | 5,500 | 5,127 | |
WESCO Distribution, Inc. 7.125% 6/15/20251 | 1,975 | 1,982 | |
WESCO Distribution, Inc. 7.25% 6/15/20281 | 6,985 | 7,026 | |
676,427 | |||
Materials 5.14% | |||
Alpek, SAB de CV 3.25% 2/25/2031 | 5,300 | 4,165 | |
Alpek, SAB de CV 3.25% 2/25/20311 | 1,100 | 864 | |
Anglo American Capital PLC 2.625% 9/10/20301 | 5,960 | 4,766 | |
Anglo American Capital PLC 2.875% 3/17/20311 | 561 | 446 | |
Anglo American Capital PLC 3.95% 9/10/20501 | 206 | 140 | |
ArcelorMittal SA 4.25% 7/16/2029 | 722 | 675 | |
ARD Finance SA 6.50% Cash 6/30/20271,6 | 7,753 | 5,861 | |
Ardagh Metal Packaging Finance PLC 4.00% 9/1/20291 | 19,300 | 15,130 | |
Ardagh Packaging Finance PLC 5.25% 4/30/20251 | 440 | 429 | |
Ardagh Packaging Finance PLC 5.25% 8/15/20271 | 6,000 | 5,015 | |
Aris Mining Corp. 6.875% 8/9/20261 | 1,860 | 1,489 | |
ATI, Inc. 4.875% 10/1/2029 | 12,345 | 10,884 | |
ATI, Inc. 7.25% 8/15/2030 | 4,275 | 4,248 | |
ATI, Inc. 5.125% 10/1/2031 | 6,210 | 5,382 | |
Axalta Coating Systems, LLC 4.75% 6/15/20271 | 11,005 | 10,237 | |
Ball Corp. 6.875% 3/15/2028 | 16,575 | 16,693 | |
Ball Corp. 6.00% 6/15/2029 | 6,250 | 6,075 | |
BHP Billiton Finance (USA), Ltd. 4.90% 2/28/2033 | 4,508 | 4,287 | |
BHP Billiton Finance (USA), Ltd. 5.25% 9/8/2033 | 14,705 | 14,203 | |
BHP Billiton Finance (USA), Ltd. 5.50% 9/8/2053 | 9,760 | 9,350 |
American Funds Multi-Sector Income Fund — Page 17 of 47
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Materials (continued) | Principal amount (000) | Value (000) | |
Braskem Idesa SAPI 7.45% 11/15/2029 | USD4,900 | $3,059 | |
Braskem Idesa SAPI 7.45% 11/15/20291 | 2,150 | 1,342 | |
Braskem Idesa SAPI 6.99% 2/20/2032 | 18,525 | 11,156 | |
Braskem Idesa SAPI 6.99% 2/20/20321 | 5,880 | 3,541 | |
Braskem Netherlands Finance BV 4.50% 1/31/20301 | 1,170 | 955 | |
Braskem Netherlands Finance BV 4.50% 1/31/2030 | 850 | 694 | |
Braskem Netherlands Finance BV 8.50% 1/12/20311 | 9,551 | 9,477 | |
Braskem Netherlands Finance BV 7.25% 2/13/20331 | 9,535 | 8,794 | |
Braskem Netherlands Finance BV 7.25% 2/13/2033 | 8,200 | 7,563 | |
Braskem Netherlands Finance BV 5.875% 1/31/20501 | 400 | 289 | |
CAN-PACK Spolka Akcyjna 3.875% 11/15/20291 | 12,535 | 10,258 | |
Celanese US Holdings, LLC 6.35% 11/15/2028 | 13,129 | 12,971 | |
Celanese US Holdings, LLC 6.55% 11/15/2030 | 9,903 | 9,696 | |
Celanese US Holdings, LLC 6.379% 7/15/2032 | 18,286 | 17,639 | |
Celanese US Holdings, LLC 6.70% 11/15/2033 | 12,028 | 11,717 | |
Cleveland-Cliffs, Inc. 6.75% 3/15/20261 | 4,320 | 4,312 | |
Cleveland-Cliffs, Inc. 5.875% 6/1/2027 | 630 | 601 | |
Cleveland-Cliffs, Inc. 4.625% 3/1/20291 | 405 | 353 | |
Cleveland-Cliffs, Inc. 4.875% 3/1/20311 | 387 | 330 | |
CVR Partners, LP 6.125% 6/15/20281 | 4,770 | 4,292 | |
EIDP, Inc. 4.80% 5/15/2033 | 17,576 | 16,402 | |
Element Solutions, Inc. 3.875% 9/1/20281 | 11,735 | 10,140 | |
First Quantum Minerals, Ltd. 7.50% 4/1/20251 | 200 | 200 | |
First Quantum Minerals, Ltd. 6.875% 3/1/20261 | 3,832 | 3,724 | |
First Quantum Minerals, Ltd. 6.875% 10/15/20271 | 24,338 | 23,382 | |
Freeport-McMoRan, Inc. 4.25% 3/1/2030 | 153 | 135 | |
Freeport-McMoRan, Inc. 5.45% 3/15/2043 | 183 | 156 | |
Fresnillo PLC 4.25% 10/2/20501 | 1,100 | 770 | |
FXI Holdings, Inc. 12.25% 11/15/20261 | 24,788 | 22,626 | |
FXI Holdings, Inc. 12.25% 11/15/20261 | 7,050 | 6,477 | |
GC Treasury Center Co., Ltd. 4.40% 3/30/2032 | 11,500 | 9,835 | |
GC Treasury Center Co., Ltd. 4.40% 3/30/20321 | 1,600 | 1,368 | |
International Flavors & Fragrances, Inc. 1.832% 10/15/20271 | 24 | 20 | |
International Flavors & Fragrances, Inc. 2.30% 11/1/20301 | 1,044 | 786 | |
International Flavors & Fragrances, Inc. 3.468% 12/1/20501 | 22,705 | 13,242 | |
LABL, Inc. 6.75% 7/15/20261 | 430 | 417 | |
LABL, Inc. 10.50% 7/15/20271 | 280 | 264 | |
LABL, Inc. 5.875% 11/1/20281 | 1,540 | 1,385 | |
LABL, Inc. 9.50% 11/1/20281 | 6,555 | 6,727 | |
Linde, Inc. 2.00% 8/10/2050 | 18 | 9 | |
LSB Industries, Inc. 6.25% 10/15/20281 | 20,465 | 18,563 | |
LYB International Finance III, LLC 3.625% 4/1/2051 | 1,091 | 696 | |
Methanex Corp. 5.125% 10/15/2027 | 2,650 | 2,448 | |
Methanex Corp. 5.25% 12/15/2029 | 760 | 679 | |
Mineral Resources, Ltd. 8.125% 5/1/20271 | 2,950 | 2,914 | |
Mineral Resources, Ltd. 8.00% 11/1/20271 | 2,000 | 1,965 | |
Mineral Resources, Ltd. 9.25% 10/1/20281 | 15,665 | 15,841 | |
Mineral Resources, Ltd. 8.50% 5/1/20301 | 10,535 | 10,348 | |
Nova Chemicals Corp. 5.25% 6/1/20271 | 3,100 | 2,687 | |
Nova Chemicals Corp. 4.25% 5/15/20291 | 8,795 | 6,854 | |
Novelis Corp. 3.25% 11/15/20261 | 1,190 | 1,064 | |
Novelis Corp. 4.75% 1/30/20301 | 6,326 | 5,483 | |
Novelis Corp. 3.875% 8/15/20311 | 7,021 | 5,616 | |
OCI NV 6.70% 3/16/20331 | 22,816 | 21,797 |
American Funds Multi-Sector Income Fund — Page 18 of 47
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Materials (continued) | Principal amount (000) | Value (000) | |
Olin Corp. 5.00% 2/1/2030 | USD3,000 | $2,668 | |
Olympus Water US Holding Corp. 9.75% 11/15/20281 | 10,000 | 9,991 | |
Sasol Financing USA, LLC 8.75% 5/3/20291 | 22,000 | 21,174 | |
Sasol Financing USA, LLC 5.50% 3/18/2031 | 10,300 | 8,084 | |
SCIH Salt Holdings, Inc. 4.875% 5/1/20281 | 19,115 | 16,890 | |
SCIH Salt Holdings, Inc. 6.625% 5/1/20291 | 13,505 | 11,589 | |
Scotts Miracle-Gro Co. 4.50% 10/15/2029 | 3,013 | 2,467 | |
Scotts Miracle-Gro Co. 4.375% 2/1/2032 | 5,990 | 4,503 | |
Sealed Air Corp. 4.00% 12/1/20271 | 11,364 | 10,153 | |
Sealed Air Corp. 6.125% 2/1/20281 | 16,690 | 16,182 | |
South32 Treasury, Ltd. 4.35% 4/14/20321 | 1,753 | 1,480 | |
Summit Materials, LLC 6.50% 3/15/20271 | 270 | 264 | |
Summit Materials, LLC 5.25% 1/15/20291 | 9,355 | 8,503 | |
Trident TPI Holdings, Inc. 12.75% 12/31/20281 | 15,000 | 15,694 | |
Trivium Packaging Finance BV 5.50% 8/15/20261 | 1,495 | 1,396 | |
Trivium Packaging Finance BV 8.50% 8/15/20271 | 7,600 | 6,954 | |
Valvoline, Inc. 4.25% 2/15/20301 | 5,960 | 5,859 | |
Valvoline, Inc. 3.625% 6/15/20311 | 9,015 | 6,994 | |
Venator Finance SARL 9.50% 7/1/20251,5 | 8,610 | 3,659 | |
Venator Finance SARL 5.75% 7/15/20251,5 | 3,015 | 147 | |
Venator Finance SARL, Term Loan, 15.05% 10/16/20233,4 | 3,620 | 3,783 | |
Warrior Met Coal, Inc. 7.875% 12/1/20281 | 6,262 | 6,291 | |
619,123 | |||
Utilities 5.09% | |||
Aegea Finance SARL 9.00% 1/20/20311 | 12,045 | 12,153 | |
AEP Transmission Co., LLC 2.75% 8/15/2051 | 2,476 | 1,419 | |
AES Panama Generation Holdings SRL 4.375% 5/31/2030 | 3,858 | 3,282 | |
AES Panama Generation Holdings SRL 4.375% 5/31/20301 | 867 | 738 | |
Alabama Power Co. 3.94% 9/1/2032 | 14,076 | 12,421 | |
Alfa Desarrollo SpA 4.55% 9/27/20511 | 7,100 | 4,860 | |
Alliant Energy Finance, LLC 3.60% 3/1/20321 | 2,125 | 1,760 | |
American Electric Power Co., Inc. 1.00% 11/1/2025 | 25 | 23 | |
Berkshire Hathaway Energy Co. 2.85% 5/15/2051 | 1,269 | 733 | |
Calpine Corp. 5.125% 3/15/20281 | 1,070 | 954 | |
CenterPoint Energy Houston Electric, LLC 2.90% 7/1/2050 | 15,735 | 9,614 | |
CenterPoint Energy Houston Electric, LLC 3.35% 4/1/2051 | 7,907 | 5,281 | |
CenterPoint Energy Houston Electric, LLC 3.60% 3/1/2052 | 432 | 303 | |
Cleveland Electric Illuminating Co. (The) 4.55% 11/15/20301 | 205 | 187 | |
Consorcio Transmantaro SA 4.70% 4/16/2034 | 1,000 | 892 | |
Consumers Energy Co. 3.80% 11/15/2028 | 2,000 | 1,861 | |
Consumers Energy Co. 3.60% 8/15/2032 | 7,969 | 6,917 | |
Consumers Energy Co. 4.625% 5/15/2033 | 16,690 | 15,554 | |
DPL, Inc. 4.125% 7/1/2025 | 7,600 | 7,214 | |
DTE Electric Co. 2.625% 3/1/2031 | 14,456 | 11,942 | |
DTE Electric Co. 3.65% 3/1/2052 | 2,100 | 1,479 | |
Duke Energy Carolinas, LLC 2.45% 8/15/2029 | 11,006 | 9,315 | |
Duke Energy Carolinas, LLC 5.35% 1/15/2053 | 4,980 | 4,563 | |
Duke Energy Corp. 5.75% 9/15/2033 | 8,000 | 7,862 | |
Duke Energy Corp. 3.50% 6/15/2051 | 2,481 | 1,611 | |
Duke Energy Corp. 6.10% 9/15/2053 | 4,000 | 3,885 | |
Duke Energy Florida, LLC 1.75% 6/15/2030 | 74 | 58 | |
Duke Energy Florida, LLC 5.95% 11/15/2052 | 375 | 369 | |
Duke Energy Progress, LLC 2.00% 8/15/2031 | 2,925 | 2,255 |
American Funds Multi-Sector Income Fund — Page 19 of 47
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Utilities (continued) | Principal amount (000) | Value (000) | |
Duke Energy Progress, LLC 2.50% 8/15/2050 | USD1,099 | $603 | |
Edison International 4.125% 3/15/2028 | 9,939 | 9,163 | |
Edison International 6.95% 11/15/2029 | 4,000 | 4,129 | |
Edison International 5.00% junior subordinated perpetual bonds (5-year UST Yield Curve Rate T Note Constant Maturity + 3.901% on 3/15/2027)2 | 4,000 | 3,429 | |
Electricité de France SA 6.90% 5/23/20531 | 7,303 | 7,261 | |
Electricité de France SA 9.125% junior subordinated perpetual bonds (5-year UST Yield Curve Rate T Note Constant Maturity + 5.411% on 6/15/2033)1,2 | 14,000 | 14,619 | |
Emera US Finance, LP 2.639% 6/15/2031 | 3,395 | 2,629 | |
Empresas Publicas de Medellin ESP 4.25% 7/18/20291 | 500 | 403 | |
Empresas Publicas de Medellin ESP 4.25% 7/18/2029 | 200 | 161 | |
Empresas Publicas de Medellin ESP 4.375% 2/15/20311 | 950 | 729 | |
Enfragen Energia Sur SA 5.375% 12/30/2030 | 6,300 | 4,414 | |
ENN Clean Energy International Investment, Ltd. 3.375% 5/12/20261 | 7,170 | 6,585 | |
ENN Energy Holdings, Ltd. 2.625% 9/17/20301 | 3,000 | 2,410 | |
ENN Energy Holdings, Ltd. 2.625% 9/17/2030 | 1,000 | 803 | |
Entergy Corp. 2.40% 6/15/2031 | 6,150 | 4,797 | |
Entergy Louisiana, LLC 2.35% 6/15/2032 | 10,000 | 7,702 | |
Entergy Louisiana, LLC 2.90% 3/15/2051 | 1,230 | 726 | |
FirstEnergy Corp. 2.65% 3/1/2030 | 30,775 | 25,119 | |
FirstEnergy Corp. 2.25% 9/1/2030 | 3,743 | 2,905 | |
FirstEnergy Corp. 3.40% 3/1/2050 | 3,500 | 2,179 | |
FirstEnergy Transmission, LLC 4.35% 1/15/20251 | 23,954 | 23,394 | |
FirstEnergy Transmission, LLC 2.866% 9/15/20281 | 2,961 | 2,571 | |
Florida Power & Light Co. 5.05% 4/1/2028 | 3,275 | 3,236 | |
Florida Power & Light Co. 5.10% 4/1/2033 | 3,261 | 3,158 | |
Florida Power & Light Co. 4.80% 5/15/2033 | 1,023 | 968 | |
Florida Power & Light Co. 2.875% 12/4/2051 | 15,185 | 9,215 | |
Georgia Power Co. 4.95% 5/17/2033 | 12,945 | 12,146 | |
Instituto Costarricense de Electricidad 6.75% 10/7/2031 | 4,900 | 4,741 | |
Investment Energy Resources, Ltd. 6.25% 4/26/20291 | 350 | 319 | |
Jersey Central Power & Light Co. 4.30% 1/15/20261 | 50 | 48 | |
Jersey Central Power & Light Co. 2.75% 3/1/20321 | 4,202 | 3,294 | |
Light Servicos de Eletricidade SA 4.375% 6/18/20265 | 9,800 | 4,417 | |
MidAmerican Energy Co. 5.35% 1/15/2034 | 3,450 | 3,406 | |
MidAmerican Energy Co. 5.85% 9/15/2054 | 10,164 | 10,032 | |
Mid-Atlantic Interstate Transmission, LLC 4.10% 5/15/20281 | 834 | 777 | |
Minejesa Capital BV 4.625% 8/10/2030 | 13,000 | 11,599 | |
Minejesa Capital BV 5.625% 8/10/2037 | 9,000 | 6,898 | |
Monongahela Power Co. 3.55% 5/15/20271 | 1,775 | 1,644 | |
MVM Energetika Zartkoruen Mukodo Reszvenytarsasag 7.50% 6/9/2028 | 2,185 | 2,202 | |
NextEra Energy Capital Holdings, Inc. 2.25% 6/1/2030 | 5,786 | 4,636 | |
NiSource, Inc. 5.40% 6/30/2033 | 575 | 552 | |
Northern States Power Co. 2.90% 3/1/2050 | 172 | 106 | |
Northern States Power Co. 2.60% 6/1/2051 | 2,870 | 1,629 | |
Northern States Power Co. 3.20% 4/1/2052 | 1,732 | 1,111 | |
Oncor Electric Delivery Co., LLC 4.55% 9/15/2032 | 1,875 | 1,730 | |
Oncor Electric Delivery Co., LLC 3.10% 9/15/2049 | 3,256 | 2,074 | |
Oncor Electric Delivery Co., LLC 2.70% 11/15/2051 | 5,004 | 2,862 | |
Pacific Gas and Electric Co. 2.95% 3/1/2026 | 258 | 238 | |
Pacific Gas and Electric Co. 2.10% 8/1/2027 | 17,728 | 15,169 | |
Pacific Gas and Electric Co. 3.00% 6/15/2028 | 1,124 | 965 | |
Pacific Gas and Electric Co. 4.65% 8/1/2028 | 125 | 115 | |
Pacific Gas and Electric Co. 4.55% 7/1/2030 | 21,197 | 18,749 |
American Funds Multi-Sector Income Fund — Page 20 of 47
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Utilities (continued) | Principal amount (000) | Value (000) | |
Pacific Gas and Electric Co. 2.50% 2/1/2031 | USD16,588 | $12,632 | |
Pacific Gas and Electric Co. 3.25% 6/1/2031 | 7,842 | 6,239 | |
Pacific Gas and Electric Co. 5.90% 6/15/2032 | 10,200 | 9,536 | |
Pacific Gas and Electric Co. 6.15% 1/15/2033 | 1,888 | 1,793 | |
Pacific Gas and Electric Co. 6.40% 6/15/2033 | 16,400 | 15,824 | |
Pacific Gas and Electric Co. 3.30% 8/1/2040 | 920 | 590 | |
Pacific Gas and Electric Co. 4.95% 7/1/2050 | 700 | 523 | |
Pacific Gas and Electric Co. 3.50% 8/1/2050 | 12,683 | 7,565 | |
Pacific Gas and Electric Co. 6.75% 1/15/2053 | 1,700 | 1,596 | |
PG&E Corp. 5.00% 7/1/2028 | 1,610 | 1,460 | |
PG&E Corp. 5.25% 7/1/2030 | 21,900 | 19,058 | |
PG&E Corp., Term Loan, (3-month USD CME Term SOFR + 3.00%) 8.431% 6/23/20253,4 | 373 | 374 | |
Progress Energy, Inc. 7.75% 3/1/2031 | 4,359 | 4,759 | |
Progress Energy, Inc. 7.00% 10/30/2031 | 2,389 | 2,519 | |
Public Service Company of Colorado 1.90% 1/15/2031 | 2,829 | 2,193 | |
Public Service Company of Colorado 1.875% 6/15/2031 | 6,542 | 5,025 | |
Public Service Company of Colorado 4.10% 6/15/2048 | 400 | 293 | |
Public Service Company of Colorado 3.20% 3/1/2050 | 900 | 566 | |
Public Service Company of Colorado 2.70% 1/15/2051 | 1,025 | 575 | |
Public Service Company of Colorado 5.25% 4/1/2053 | 2,046 | 1,786 | |
Public Service Electric and Gas Co. 3.20% 5/15/2029 | 2,231 | 1,995 | |
Public Service Electric and Gas Co. 5.20% 8/1/2033 | 5,525 | 5,402 | |
Southern California Edison Co. 0.975% 8/1/2024 | 2,240 | 2,150 | |
Southern California Edison Co. 4.70% 6/1/2027 | 22,602 | 21,941 | |
Southern California Edison Co. 5.65% 10/1/2028 | 6,425 | 6,416 | |
Southern California Edison Co. 2.85% 8/1/2029 | 1,300 | 1,123 | |
Southern California Edison Co. 2.50% 6/1/2031 | 10,829 | 8,618 | |
Southern California Edison Co. 2.75% 2/1/2032 | 3,400 | 2,722 | |
Southern California Edison Co. 3.60% 2/1/2045 | 2,643 | 1,812 | |
Southern California Edison Co. 3.65% 2/1/2050 | 4,400 | 2,978 | |
Southern Co. (The) 5.70% 3/15/2034 | 7,025 | 6,887 | |
Southwestern Electric Power Co. 3.25% 11/1/2051 | 4,154 | 2,501 | |
State Grid Overseas Investment (2013), Ltd. 4.375% 5/22/2043 | 2,800 | 2,369 | |
State Grid Overseas Investment (2014), Ltd. 4.85% 5/7/2044 | 2,000 | 1,810 | |
Talen Energy Supply, LLC 8.625% 6/1/20301 | 16,668 | 17,101 | |
Talen Energy Supply, LLC, Term Loan B, (3-month USD CME Term SOFR + 4.50%) 9.876% 5/17/20303,4 | 4,455 | 4,474 | |
Tampa Electric Co. 3.625% 6/15/2050 | 1,075 | 730 | |
The Connecticut Light and Power Co. 2.05% 7/1/2031 | 175 | 137 | |
Union Electric Co. 2.15% 3/15/2032 | 2,850 | 2,188 | |
Union Electric Co. 2.625% 3/15/2051 | 1,880 | 1,071 | |
Venture Global Calcasieu Pass, LLC 3.875% 8/15/20291 | 12,680 | 10,684 | |
Virginia Electric & Power 2.30% 11/15/2031 | 2,900 | 2,267 | |
Virginia Electric & Power 2.40% 3/30/2032 | 3,925 | 3,064 | |
Virginia Electric & Power 2.45% 12/15/2050 | 180 | 97 | |
WEC Energy Group, Inc. 5.15% 10/1/2027 | 3,350 | 3,296 | |
Wisconsin Power and Light Co. 1.95% 9/16/2031 | 2,240 | 1,704 | |
Xcel Energy, Inc. 3.35% 12/1/2026 | 1,130 | 1,054 | |
Xcel Energy, Inc. 1.75% 3/15/2027 | 1,025 | 903 | |
Xcel Energy, Inc. 2.60% 12/1/2029 | 181 | 152 | |
Xcel Energy, Inc. 2.35% 11/15/2031 | 1,660 | 1,269 | |
Xcel Energy, Inc. 4.60% 6/1/2032 | 1,875 | 1,703 |
American Funds Multi-Sector Income Fund — Page 21 of 47
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Utilities (continued) | Principal amount (000) | Value (000) | |
Xcel Energy, Inc. 5.45% 8/15/2033 | USD11,711 | $11,187 | |
Xcel Energy, Inc. 3.50% 12/1/2049 | 2,360 | 1,544 | |
612,527 | |||
Consumer staples 3.94% | |||
7-Eleven, Inc. 0.95% 2/10/20261 | 255 | 228 | |
7-Eleven, Inc. 1.30% 2/10/20281 | 149 | 125 | |
7-Eleven, Inc. 1.80% 2/10/20311 | 13,213 | 10,027 | |
7-Eleven, Inc. 2.50% 2/10/20411 | 900 | 551 | |
7-Eleven, Inc. 2.80% 2/10/20511 | 10,815 | 6,114 | |
Albertsons Companies, Inc. 3.50% 3/15/20291 | 3,185 | 2,718 | |
Altria Group, Inc. 3.875% 9/16/2046 | 17,558 | 11,536 | |
Altria Group, Inc. 4.45% 5/6/2050 | 11,445 | 8,120 | |
Altria Group, Inc. 3.70% 2/4/2051 | 24,229 | 15,086 | |
Anheuser-Busch Companies, LLC 4.90% 2/1/2046 | 90 | 79 | |
Anheuser-Busch InBev Worldwide, Inc. 4.60% 4/15/2048 | 8,292 | 7,014 | |
Anheuser-Busch InBev Worldwide, Inc. 4.439% 10/6/2048 | 180 | 148 | |
Anheuser-Busch InBev Worldwide, Inc. 5.55% 1/23/2049 | 1,100 | 1,055 | |
B&G Foods, Inc. 5.25% 4/1/2025 | 10,870 | 10,678 | |
B&G Foods, Inc. 5.25% 9/15/2027 | 6,105 | 5,119 | |
B&G Foods, Inc. 8.00% 9/15/20281 | 9,125 | 9,149 | |
BAT Capital Corp. 2.726% 3/25/2031 | 2,750 | 2,124 | |
BAT Capital Corp. 6.421% 8/2/2033 | 6,078 | 5,913 | |
BAT Capital Corp. 3.984% 9/25/2050 | 51,940 | 32,646 | |
BAT Capital Corp. 5.65% 3/16/2052 | 2,375 | 1,904 | |
BAT Capital Corp. 7.081% 8/2/2053 | 7,663 | 7,246 | |
Central Garden & Pet Co. 4.125% 10/15/2030 | 3,600 | 3,005 | |
Central Garden & Pet Co. 4.125% 4/30/20311 | 18,275 | 14,920 | |
Conagra Brands, Inc. 1.375% 11/1/2027 | 5,135 | 4,300 | |
Conagra Brands, Inc. 5.30% 11/1/2038 | 2 | 2 | |
Constellation Brands, Inc. 2.875% 5/1/2030 | 1,040 | 874 | |
Constellation Brands, Inc. 2.25% 8/1/2031 | 20,750 | 16,183 | |
Constellation Brands, Inc. 4.75% 5/9/2032 | 2,834 | 2,627 | |
Constellation Brands, Inc. 4.90% 5/1/2033 | 1,657 | 1,539 | |
Coty, Inc. 6.625% 7/15/20301 | 8,115 | 7,932 | |
Darling Ingredients, Inc. 5.25% 4/15/20271 | 2,055 | 1,960 | |
Darling Ingredients, Inc. 6.00% 6/15/20301 | 16,970 | 16,085 | |
Energizer Holdings, Inc. 4.375% 3/31/20291 | 8,630 | 7,211 | |
Indofood CBP Sukses Makmur Tbk PT 4.745% 6/9/2051 | 5,934 | 4,130 | |
Ingles Markets, Inc. 4.00% 6/15/20311 | 11,345 | 9,329 | |
InRetail Consumer 3.25% 3/22/20281 | 1,100 | 939 | |
Kronos Acquisition Holdings, Inc. 5.00% 12/31/20261 | 5,360 | 4,893 | |
Kronos Acquisition Holdings, Inc. 7.00% 12/31/20271 | 14,720 | 12,715 | |
Lamb Weston Holdings, Inc. 4.125% 1/31/20301 | 7,985 | 6,838 | |
MARB BondCo PLC 3.95% 1/29/2031 | 10,365 | 7,696 | |
MARB BondCo PLC 3.95% 1/29/20311 | 2,577 | 1,913 | |
Minerva Luxembourg SA 8.875% 9/13/20331 | 12,895 | 12,815 | |
Natura Cosmeticos SA 4.125% 5/3/20281 | 3,800 | 3,267 | |
Natura Cosmeticos SA 4.125% 5/3/2028 | 2,400 | 2,063 | |
NBM US Holdings, Inc. 6.625% 8/6/20298 | 500 | 456 | |
Nestle Skin Health SA, Term Loan B3, (3-month USD CME Term SOFR + 3.75%) 9.24% 10/1/20263,4 | 20,243 | 20,240 | |
PepsiCo, Inc. 1.625% 5/1/2030 | 6 | 5 | |
PepsiCo, Inc. 1.40% 2/25/2031 | 34 | 26 | |
PepsiCo, Inc. 1.95% 10/21/2031 | 21,349 | 16,844 |
American Funds Multi-Sector Income Fund — Page 22 of 47
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Consumer staples (continued) | Principal amount (000) | Value (000) | |
Performance Food Group, Inc. 5.50% 10/15/20271 | USD4,105 | $3,893 | |
Performance Food Group, Inc. 4.25% 8/1/20291 | 8,162 | 7,061 | |
Philip Morris International, Inc. 5.625% 11/17/2029 | 7,731 | 7,647 | |
Philip Morris International, Inc. 1.75% 11/1/2030 | 2,713 | 2,068 | |
Philip Morris International, Inc. 5.75% 11/17/2032 | 8,756 | 8,551 | |
Philip Morris International, Inc. 5.375% 2/15/2033 | 31,210 | 29,604 | |
Philip Morris International, Inc. 5.625% 9/7/2033 | 18,000 | 17,316 | |
Philip Morris International, Inc. 4.25% 11/10/2044 | 15 | 11 | |
Post Holdings, Inc. 5.625% 1/15/20281 | 7,370 | 6,975 | |
Post Holdings, Inc. 5.50% 12/15/20291 | 3,355 | 3,045 | |
Post Holdings, Inc. 4.625% 4/15/20301 | 12,811 | 10,986 | |
Prestige Brands, Inc. 5.125% 1/15/20281 | 5,345 | 4,982 | |
Prestige Brands, Inc. 3.75% 4/1/20311 | 5,985 | 4,825 | |
Simmons Foods, Inc. 4.625% 3/1/20291 | 16,820 | 13,819 | |
Target Corp. 4.50% 9/15/2032 | 6,610 | 6,153 | |
Target Corp. 4.80% 1/15/2053 | 4,500 | 3,853 | |
TreeHouse Foods, Inc. 4.00% 9/1/2028 | 2,290 | 1,915 | |
United Natural Foods, Inc. 6.75% 10/15/20281 | 450 | 344 | |
US Foods, Inc. 4.625% 6/1/20301 | 7,670 | 6,673 | |
Walmart, Inc. 4.10% 4/15/2033 | 17,409 | 15,933 | |
474,041 | |||
Real estate 2.95% | |||
American Tower Corp. 2.95% 1/15/2051 | 15,000 | 8,474 | |
Anywhere Real Estate Group, LLC 5.75% 1/15/20291 | 5,200 | 3,767 | |
Anywhere Real Estate Group, LLC 5.25% 4/15/20301 | 8,995 | 6,257 | |
Boston Properties, LP 2.55% 4/1/2032 | 3,980 | 2,876 | |
Boston Properties, LP 2.45% 10/1/2033 | 5,420 | 3,704 | |
Boston Properties, LP 6.50% 1/15/2034 | 20,469 | 19,532 | |
Brookfield Property REIT, Inc. 5.75% 5/15/20261 | 8,090 | 7,433 | |
Brookfield Property REIT, Inc. 4.50% 4/1/20271 | 3,780 | 3,155 | |
Corp. Inmobiliaria Vesta, SAB de CV 3.625% 5/13/20311 | 3,240 | 2,644 | |
Crown Castle, Inc. 5.00% 1/11/2028 | 6,796 | 6,571 | |
Equinix, Inc. 1.45% 5/15/2026 | 2,260 | 2,019 | |
Equinix, Inc. 2.90% 11/18/2026 | 68 | 62 | |
Equinix, Inc. 1.55% 3/15/2028 | 105 | 88 | |
Equinix, Inc. 2.00% 5/15/2028 | 894 | 755 | |
Equinix, Inc. 3.20% 11/18/2029 | 75 | 64 | |
Equinix, Inc. 2.15% 7/15/2030 | 15,210 | 11,958 | |
Equinix, Inc. 2.50% 5/15/2031 | 1,335 | 1,043 | |
Equinix, Inc. 3.90% 4/15/2032 | 650 | 556 | |
Equinix, Inc. 2.95% 9/15/2051 | 3,250 | 1,872 | |
Equinix, Inc. 3.40% 2/15/2052 | 819 | 519 | |
Essex Portfolio, LP 2.55% 6/15/2031 | 1,762 | 1,369 | |
FibraSOMA 4.375% 7/22/20311 | 3,933 | 2,942 | |
Howard Hughes Corp. (The) 5.375% 8/1/20281 | 2,931 | 2,586 | |
Howard Hughes Corp. (The) 4.125% 2/1/20291 | 10,170 | 8,146 | |
Howard Hughes Corp. (The) 4.375% 2/1/20311 | 22,885 | 17,587 | |
Iron Mountain, Inc. 5.25% 3/15/20281 | 2,185 | 2,023 | |
Iron Mountain, Inc. 5.00% 7/15/20281 | 2,224 | 2,026 | |
Iron Mountain, Inc. 5.25% 7/15/20301 | 4,555 | 3,985 | |
Iron Mountain, Inc. 4.50% 2/15/20311 | 2,665 | 2,195 | |
Kennedy-Wilson, Inc. 4.75% 3/1/2029 | 20,210 | 15,537 | |
Kennedy-Wilson, Inc. 4.75% 2/1/2030 | 33,055 | 24,708 |
American Funds Multi-Sector Income Fund — Page 23 of 47
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Real estate (continued) | Principal amount (000) | Value (000) | |
Kennedy-Wilson, Inc. 5.00% 3/1/2031 | USD14,945 | $10,932 | |
Ladder Capital Finance Holdings LLLP 4.25% 2/1/20271 | 4,890 | 4,282 | |
Ladder Capital Finance Holdings LLLP 4.75% 6/15/20291 | 9,604 | 7,771 | |
MPT Operating Partnership, LP 5.00% 10/15/2027 | 90 | 70 | |
MPT Operating Partnership, LP 3.50% 3/15/2031 | 16,215 | 10,146 | |
Park Intermediate Holdings, LLC 5.875% 10/1/20281 | 9,000 | 8,233 | |
Park Intermediate Holdings, LLC 4.875% 5/15/20291 | 11,160 | 9,454 | |
Prologis, LP 4.75% 6/15/2033 | 3,870 | 3,569 | |
Prologis, LP 5.125% 1/15/2034 | 5,490 | 5,189 | |
Public Storage Operating Co. 1.95% 11/9/2028 | 417 | 353 | |
Public Storage Operating Co. 2.25% 11/9/2031 | 8,155 | 6,384 | |
Public Storage Operating Co. 5.10% 8/1/2033 | 11,900 | 11,383 | |
Public Storage Operating Co. 5.35% 8/1/2053 | 8,552 | 7,824 | |
RHP Hotel Properties, LP 4.50% 2/15/20291 | 7,765 | 6,663 | |
RLJ Lodging Trust, LP 3.75% 7/1/20261 | 2,610 | 2,363 | |
RLJ Lodging Trust, LP 4.00% 9/15/20291 | 3,380 | 2,772 | |
Service Properties Trust 4.75% 10/1/2026 | 14,455 | 12,415 | |
Service Properties Trust 4.95% 2/15/2027 | 3,560 | 3,011 | |
Service Properties Trust 3.95% 1/15/2028 | 17,065 | 13,315 | |
Service Properties Trust 4.95% 10/1/2029 | 17,525 | 13,269 | |
Service Properties Trust 4.375% 2/15/2030 | 2,095 | 1,506 | |
Sun Communities Operating, LP 2.70% 7/15/2031 | 1,942 | 1,497 | |
Sun Communities Operating, LP 4.20% 4/15/2032 | 21,204 | 18,107 | |
VICI Properties, LP 4.625% 6/15/20251 | 1,091 | 1,055 | |
VICI Properties, LP 4.75% 2/15/2028 | 876 | 820 | |
VICI Properties, LP 3.875% 2/15/20291 | 3,880 | 3,357 | |
VICI Properties, LP 4.95% 2/15/2030 | 14,510 | 13,295 | |
VICI Properties, LP 4.125% 8/15/20301 | 337 | 287 | |
VICI Properties, LP 5.125% 5/15/2032 | 6,694 | 5,999 | |
VICI Properties, LP 5.625% 5/15/2052 | 2,180 | 1,808 | |
WEA Finance, LLC 3.50% 6/15/20291 | 10 | 8 | |
XHR, LP 4.875% 6/1/20291 | 2,120 | 1,804 | |
355,394 | |||
Information technology 1.96% | |||
Almonde, Inc., Term Loan, (3-month USD-LIBOR + 7.25%) 12.981% 6/13/20253,4,10 | 2,640 | 2,636 | |
Analog Devices, Inc. 1.70% 10/1/2028 | 398 | 336 | |
Analog Devices, Inc. 2.10% 10/1/2031 | 558 | 441 | |
Analog Devices, Inc. 2.95% 10/1/2051 | 3,709 | 2,319 | |
Apple, Inc. 3.95% 8/8/2052 | 4,588 | 3,602 | |
Apple, Inc. 4.85% 5/10/2053 | 2,001 | 1,834 | |
BMC Software, Inc., Term Loan, (1-month USD CME Term SOFR + 5.50%) 10.931% 2/27/20263,4 | 3,500 | 3,500 | |
Booz Allen Hamilton, Inc. 3.875% 9/1/20281 | 734 | 658 | |
Booz Allen Hamilton, Inc. 4.00% 7/1/20291 | 586 | 518 | |
Broadcom Corp. 3.875% 1/15/2027 | 53 | 50 | |
Broadcom, Inc. 4.00% 4/15/20291 | 142 | 128 | |
Broadcom, Inc. 4.75% 4/15/2029 | 220 | 208 | |
Broadcom, Inc. 4.15% 11/15/2030 | 24 | 21 | |
Broadcom, Inc. 4.15% 4/15/20321 | 7 | 6 | |
Broadcom, Inc. 3.419% 4/15/20331 | 8,660 | 6,930 | |
Broadcom, Inc. 3.469% 4/15/20341 | 12,259 | 9,633 | |
Broadcom, Inc. 3.50% 2/15/20411 | 3,700 | 2,574 | |
CA Magnum Holdings 5.375% 10/31/20261 | 820 | 728 | |
CDK Global II, LLC 7.25% 6/15/20291 | 8,175 | 7,933 |
American Funds Multi-Sector Income Fund — Page 24 of 47
unaudited
Bonds, notes & other debt instruments (continued) Corporate bonds, notes & loans (continued) Information technology (continued) | Principal amount (000) | Value (000) | |
Cloud Software Group, Inc. 6.50% 3/31/20291 | USD5,780 | $5,117 | |
Cloud Software Group, Inc. 9.00% 9/30/20291 | 30,990 | 26,973 | |
CommScope Technologies, LLC 6.00% 6/15/20251 | 5,000 | 4,766 | |
CommScope, Inc. 8.25% 3/1/20271 | 5,151 | 3,561 | |
CommScope, Inc. 7.125% 7/1/20281 | 3,603 | 2,162 | |
CommScope, Inc. 4.75% 9/1/20291 | 7,000 | 5,158 | |
Diebold Nixdorf, Inc., Term Loan, (3-month USD CME Term SOFR + 7.00%) 12.891% 8/11/20281,3,4 | 15,401 | 15,468 | |
Entegris Escrow Corp. 4.75% 4/15/20291 | 1,795 | 1,615 | |
Fair Isaac Corp. 4.00% 6/15/20281 | 8,305 | 7,434 | |
Finastra USA, Inc., Term Loan B, (3-month USD CME Term SOFR + 7.25%) 12.876% 9/13/20293,4,8 | 16,510 | 16,510 | |
Finastra USA, Inc., Term Loan, (3-month USD CME Term SOFR + 7.25%) 12.876% 9/13/20293,4,8 | 363 | 363 | |
Gartner, Inc. 4.50% 7/1/20281 | 3,270 | 2,987 | |
Gartner, Inc. 3.625% 6/15/20291 | 5,330 | 4,565 | |
Gartner, Inc. 3.75% 10/1/20301 | 7,790 | 6,545 | |
MicroStrategy, Inc. 6.125% 6/15/20281 | 1,190 | 1,059 | |
NCR Atleos Escrow Corp. 9.50% 4/1/20291 | 23,329 | 22,588 | |
NCR Corp. 5.125% 4/15/20291 | 1,500 | 1,323 | |
Oracle Corp. 3.60% 4/1/2050 | 3,370 | 2,182 | |
Oracle Corp. 3.95% 3/25/2051 | 212 | 145 | |
ServiceNow, Inc. 1.40% 9/1/2030 | 8,917 | 6,851 | |
SK hynix, Inc. 1.50% 1/19/2026 | 4,300 | 3,865 | |
SK hynix, Inc. 1.50% 1/19/20261 | 200 | 180 | |
SK hynix, Inc. 2.375% 1/19/2031 | 7,600 | 5,711 | |
SK hynix, Inc. 6.50% 1/17/2033 | 7,375 | 7,215 | |
SK hynix, Inc. 6.50% 1/17/20331 | 2,625 | 2,568 | |
Tibco Software, Inc., Term Loan A, (3-month USD CME Term SOFR + 4.50%) 9.99% 9/29/20283,4 | 23,875 | 22,955 | |
UKG, Inc., Term Loan, (3-month USD CME Term SOFR + 5.25%) 10.618% 5/3/20273,4 | 1,550 | 1,551 | |
Unisys Corp. 6.875% 11/1/20271 | 535 | 401 | |
Wolfspeed, Inc. 9.875% 6/23/2030 (10.875% on 6/23/2026)2,7,8 | 10,655 | 9,774 | |
235,647 | |||
Total corporate bonds, notes & loans | 8,358,802 | ||
Mortgage-backed obligations 10.38% Commercial mortgage-backed securities 8.05% | |||
3650R Commercial Mortgage Trust, Series 2022-PF2, Class B, 5.466% 11/15/20554,11 | 12,673 | 10,669 | |
Arbor Multi Family Mortgage Securities Trust, Series 2020-MF1, Class B, 3.719% 5/15/20534,11 | 500 | 409 | |
Banc of America Commercial Mortgage, Inc., Series 2016-UB10, Class C, 4.986% 7/15/20494,11 | 3,560 | 3,073 | |
Banc of America Commercial Mortgage, Inc., Series 2017-BNK3, Class A4, 3.574% 2/15/205011 | 10 | 9 | |
Bank Commercial Mortgage Trust, Series 2023-5YR2, Class AS, 7.379% 6/15/20284,11 | 9,699 | 9,841 | |
Bank Commercial Mortgage Trust, Series 2023-5YR2, Class C, 7.403% 7/15/20284,11 | 5,948 | 5,489 | |
Bank Commercial Mortgage Trust, Series 2022-BNK44, Class B, 5.937% 11/15/20324,11 | 8,333 | 7,399 | |
Bank Commercial Mortgage Trust, Series 2022-BNK44, Class C, 5.937% 11/15/20324,11 | 7,500 | 5,978 | |
Bank Commercial Mortgage Trust, Series 2019-BN23, Class C, 3.623% 12/15/20524,11 | 6,986 | 4,993 | |
Bank Commercial Mortgage Trust, Series 2017-BNK9, Class A4, 3.538% 11/15/205411 | 10 | 9 | |
Bank Commercial Mortgage Trust, Series 2022-BNK43, Class B, 5.327% 8/15/20554,11 | 5,250 | 4,354 | |
Bank Commercial Mortgage Trust, Series 2023-BNK45, Class B, 6.148% 2/15/20564,11 | 5,618 | 5,166 | |
Bank Commercial Mortgage Trust, Series 2023-BNK45, Class C, 6.489% 2/15/20564,11 | 1,535 | 1,281 | |
Bank Commercial Mortgage Trust, Series 2023-5YR1, Class B, 6.625% 3/15/20564,11 | 13,148 | 12,232 | |
Bank Commercial Mortgage Trust, Series 2023-5YR1, Class AS, 6.625% 3/15/20564,11 | 8,179 | 8,080 | |
Bank Commercial Mortgage Trust, Series 2023-BNK46, Class B, 6.773% 8/15/20564,11 | 7,654 | 7,487 | |
Bank Commercial Mortgage Trust, Series 2023-BNK46, Class C, 6.773% 8/15/20564,11 | 6,801 | 5,904 |
American Funds Multi-Sector Income Fund — Page 25 of 47
unaudited
Bonds, notes & other debt instruments (continued) Mortgage-backed obligations (continued) Commercial mortgage-backed securities (continued) | Principal amount (000) | Value (000) | |
Bank Commercial Mortgage Trust, Series 2023-5YR3, Class C, 7.315% 9/15/20564,11 | USD7,043 | $6,578 | |
Bank Commercial Mortgage Trust, Series 2017-BNK7, Class C, 4.145% 9/15/20604,11 | 2,522 | 2,021 | |
Bank Commercial Mortgage Trust, Series 2019-BN19, Class B, 3.647% 8/15/206111 | 4,000 | 2,814 | |
Bank Commercial Mortgage Trust, Series 2019-BN20, Class B, 3.395% 9/15/20624,11 | 3,865 | 2,878 | |
Bank Commercial Mortgage Trust, Series 2020-BN25, Class C, 3.467% 1/15/20634,11 | 2,992 | 2,081 | |
Bank Commercial Mortgage Trust, Series 2020-BN26, Class C, 3.414% 3/15/20634,11 | 9,265 | 6,407 | |
Bank of America Merrill Lynch Large Loan, Inc., Series 2015-200P, Class B, 3.49% 4/14/20331,11 | 3,000 | 2,756 | |
Bank of America Merrill Lynch Large Loan, Inc., Series 2015-200P, Class C, 3.716% 4/14/20331,4,11 | 2,000 | 1,829 | |
Barclays Commercial Mortgage Securities, LLC, Series 2018-TALL, Class A, ((1-month USD CME Term SOFR + 0.047%) + 0.872%) 6.251% 3/15/20371,4,11 | 1,396 | 1,294 | |
Barclays Commercial Mortgage Securities, LLC, Series 2022-C17, Class B, 4.889% 9/15/20554,11 | 11,003 | 9,107 | |
Barclays Commercial Mortgage Securities, LLC, Series 2022-C18, Class C, 6.348% 12/15/20554,11 | 12,328 | 10,432 | |
Barclays Commercial Mortgage Securities, LLC, Series 2023-C19, Class AS, 6.07% 4/15/20564,11 | 14,763 | 14,218 | |
Barclays Commercial Mortgage Securities, LLC, Series 2023-C19, Class B, 6.546% 4/15/20564,11 | 1,954 | 1,806 | |
Barclays Commercial Mortgage Securities, LLC, Series 2023-C19, Class C, 6.598% 4/15/20564,11 | 6,078 | 5,195 | |
Barclays Commercial Mortgage Securities, LLC, Series 2023-C20, Class B, 6.167% 7/15/20564,11 | 19,000 | 17,887 | |
Barclays Commercial Mortgage Securities, LLC, Series 2023-C20, Class C, 6.828% 7/15/20564,11 | 6,586 | 5,780 | |
Benchmark Mortgage Trust, Series 2018-B2, Class A4, 3.615% 2/15/205111 | 25 | 23 | |
Benchmark Mortgage Trust, Series 2018-B2, Class B, 4.434% 2/15/20514,11 | 3,000 | 2,496 | |
Benchmark Mortgage Trust, Series 2018-B3, Class A5, 4.025% 4/10/205111 | 10 | 9 | |
Benchmark Mortgage Trust, Series 2018-B3, Class B, 4.295% 4/10/20514,11 | 1,445 | 1,167 | |
Benchmark Mortgage Trust, Series 2018-B4, Class A5, 4.121% 7/15/20514,11 | 10 | 9 | |
Benchmark Mortgage Trust, Series 2021-B25, Class B, 2.635% 4/15/205411 | 5,500 | 3,735 | |
Benchmark Mortgage Trust, Series 2022-B35, Class C, 4.593% 5/15/20554,11 | 9,225 | 6,185 | |
Benchmark Mortgage Trust, Series 2023-V2, Class B, 6.995% 5/15/20554,11 | 11,487 | 11,285 | |
Benchmark Mortgage Trust, Series 2023-V2, Class C, 6.995% 5/15/20554,11 | 9,404 | 8,688 | |
Benchmark Mortgage Trust, Series 2022-B36, Class B, 4.87% 7/15/20554,11 | 7,500 | 5,989 | |
Benchmark Mortgage Trust, Series 2023-B38, Class AM, 6.121% 4/15/20564,11 | 22,618 | 21,853 | |
Benchmark Mortgage Trust, Series 2023-B38, Class B, 6.453% 4/15/20564,11 | 10,487 | 10,073 | |
Benchmark Mortgage Trust, Series 2023-B38, Class C, 6.453% 4/15/20564,11 | 6,492 | 5,275 | |
Benchmark Mortgage Trust, Series 2023-V3, Class B, 6.924% 7/15/205611 | 6,493 | 6,390 | |
Benchmark Mortgage Trust, Series 2023-V3, Class C, 7.412% 7/15/20564,11 | 8,813 | 8,186 | |
Benchmark Mortgage Trust, Series 2019-B13, Class A4, 2.952% 8/15/205711 | 20 | 17 | |
BMO Mortgage Trust, Series 2023-C4, Class B, 5.592% 2/15/20564,11 | 3,081 | 2,666 | |
BMO Mortgage Trust, Series 2023-C5, Class B, 6.476% 6/15/20564,11 | 6,244 | 6,105 | |
BMO Mortgage Trust, Series 2023-C5, Class C, 6.627% 6/15/20564,11 | 2,161 | 1,959 | |
BMO Mortgage Trust, Series 2023-5C1, Class B, 6.96% 8/15/20564,11 | 10,516 | 10,365 | |
BMO Mortgage Trust, Series 2023-5C1, Class C, 7.118% 8/15/20564,11 | 4,437 | 4,110 | |
BMO Mortgage Trust, Series 2023-C6, Class B, 6.636% 9/15/20564,11 | 3,625 | 3,543 | |
BOCA Commercial Mortgage Trust, Series 2022-BOCA, Class A, (1-month USD CME Term SOFR + 1.77%) 7.102% 5/15/20391,4,11 | 4,750 | 4,738 | |
BOCA Commercial Mortgage Trust, Series 2022-BOCA, Class B, (1-month USD CME Term SOFR + 2.319%) 7.651% 5/15/20391,4,11 | 2,694 | 2,662 | |
BX Trust, Series 2022-CSMO, Class B, (1-month USD CME Term SOFR + 3.141%) 8.473% 6/15/20271,4,11 | 10,000 | 10,018 | |
BX Trust, Series 2021-MFM1, Class B, (1-month USD CME Term SOFR + 1.064%) 6.397% 1/15/20341,4,11 | 3,617 | 3,550 | |
BX Trust, Series 2021-SDMF, Class B, (1-month USD CME Term SOFR + 0.852%) 6.185% 9/15/20341,4,11 | 3,000 | 2,906 | |
BX Trust, Series 2021-SDMF, Class C, (1-month USD CME Term SOFR + 1.002%) 6.335% 9/15/20341,4,11 | 2,100 | 2,029 | |
BX Trust, Series 2021-SDMF, Class D, (1-month USD CME Term SOFR + 1.501%) 6.834% 9/15/20341,4,11 | 2,000 | 1,932 | |
BX Trust, Series 2021-SDMF, Class E, (1-month USD CME Term SOFR + 1.701%) 7.034% 9/15/20341,4,11 | 1,449 | 1,392 | |
BX Trust, Series 2021-VOLT, Class A, (1-month USD CME Term SOFR + 0.814%) 6.147% 9/15/20361,4,11 | 1,733 | 1,688 | |
BX Trust, Series 2021-VOLT, Class B, (1-month USD CME Term SOFR + 1.064%) 6.397% 9/15/20361,4,11 | 2,696 | 2,609 | |
BX Trust, Series 2021-VOLT, Class D, (1-month USD CME Term SOFR + 1.764%) 7.097% 9/15/20361,4,11 | 4,410 | 4,216 | |
BX Trust, Series 2021-VOLT, Class E, (1-month USD CME Term SOFR + 2.114%) 7.447% 9/15/20361,4,11 | 7,510 | 7,178 | |
BX Trust, Series 2021-ARIA, Class A, (1-month USD CME Term SOFR + 1.014%) 6.346% 10/15/20361,4,11 | 1,992 | 1,945 |
American Funds Multi-Sector Income Fund — Page 26 of 47
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Bonds, notes & other debt instruments (continued) Mortgage-backed obligations (continued) Commercial mortgage-backed securities (continued) | Principal amount (000) | Value (000) | |
BX Trust, Series 2021-ARIA, Class B, (1-month USD CME Term SOFR + 1.411%) 6.744% 10/15/20361,4,11 | USD10,749 | $10,413 | |
BX Trust, Series 2021-ARIA, Class C, (1-month USD CME Term SOFR + 1.76%) 7.093% 10/15/20361,4,11 | 1,992 | 1,923 | |
BX Trust, Series 2021-ARIA, Class D, (1-month USD CME Term SOFR + 2.01%) 7.342% 10/15/20361,4,11 | 1,380 | 1,320 | |
BX Trust, Series 2022-IND, Class D, (1-month USD CME Term SOFR + 2.839%) 8.171% 4/15/20371,4,11 | 631 | 612 | |
BX Trust, Series 2021-SOAR, Class B, (1-month USD CME Term SOFR + 0.984%) 6.317% 6/15/20381,4,11 | 759 | 740 | |
BX Trust, Series 2021-SOAR, Class C, (1-month USD CME Term SOFR + 1.214%) 6.547% 6/15/20381,4,11 | 684 | 667 | |
BX Trust, Series 2021-SOAR, Class D, (1-month USD CME Term SOFR + 1.514%) 6.847% 6/15/20381,4,11 | 8,661 | 8,414 | |
BX Trust, Series 2021-ACNT, Class A, (1-month USD CME Term SOFR + 0.964%) 6.297% 11/15/20381,4,11 | 7,572 | 7,436 | |
BX Trust, Series 2021-ACNT, Class B, (1-month USD CME Term SOFR + 1.364%) 6.697% 11/15/20381,4,11 | 12,188 | 11,934 | |
BX Trust, Series 2021-ACNT, Class C, (1-month USD CME Term SOFR + 1.614%) 6.947% 11/15/20381,4,11 | 1,962 | 1,916 | |
BX Trust, Series 2021-ACNT, Class D, (1-month USD CME Term SOFR + 1.964%) 7.297% 11/15/20381,4,11 | 2,982 | 2,898 | |
BX Trust, Series 2021-ACNT, Class E, (1-month USD CME Term SOFR + 2.311%) 7.644% 11/15/20381,4,11 | 1,455 | 1,411 | |
BX Trust, Series 2022-AHP, Class A, (1-month USD CME Term SOFR + 0.99%) 6.322% 2/15/20391,4,11 | 9,967 | 9,748 | |
BX Trust, Series 2022-AHP, Class B, (1-month USD CME Term SOFR + 1.84%) 7.172% 2/15/20391,4,11 | 3,000 | 2,949 | |
BX Trust, Series 2022-LP2, Class D, (1-month USD CME Term SOFR + 1.961%) 7.293% 2/15/20391,4,11 | 2,430 | 2,332 | |
BX Trust, Series 2022-AHP, Class C, (1-month USD CME Term SOFR + 2.09%) 7.422% 2/15/20391,4,11 | 4,000 | 3,888 | |
BX Trust, Series 2022-PSB, Class A, (1-month USD CME Term SOFR + 2.451%) 7.783% 8/15/20391,4,11 | 17,852 | 17,870 | |
BX Trust, Series 2022-PSB, Class B, (1-month USD CME Term SOFR + 2.949%) 8.281% 8/15/20391,4,11 | 10,002 | 10,014 | |
BX Trust, Series 2022-PSB, Class C, (1-month USD CME Term SOFR + 3.697%) 9.029% 8/15/20391,4,11 | 8,679 | 8,689 | |
BX Trust, Series 2022-PSB, Class D, (1-month USD CME Term SOFR + 4.693%) 10.025% 8/15/20391,4,11 | 8,538 | 8,554 | |
BX Trust, Series 2022-GPA, Class B, (1-month USD CME Term SOFR + 2.664%) 7.992% 10/15/20391,4,11 | 7,858 | 7,875 | |
BX Trust, Series 2022-GPA, Class C, (1-month USD CME Term SOFR + 3.213%) 8.542% 10/15/20391,4,11 | 4,977 | 4,990 | |
BX Trust, Series 2022-GPA, Class D, (1-month USD CME Term SOFR + 4.061%) 9.392% 10/15/20391,4,11 | 1,855 | 1,861 | |
BX Trust, Series 2023-VLT2, Class C, (1-month USD CME Term SOFR + 4.176%) 9.508% 6/15/20401,4,11 | 15,000 | 14,999 | |
BX Trust, Series 2023-VLT2, Class D, (1-month USD CME Term SOFR + 4.774%) 10.106% 6/15/20401,4,11 | 26,000 | 25,967 | |
BX Trust, Series 2019-OC11, Class C, 3.856% 12/9/20411,11 | 1,090 | 917 | |
BX Trust, Series 2019-OC11, Class D, 4.075% 12/9/20411,4,11 | 2,326 | 1,920 | |
BX Trust, Series 2020-VIV4, Class A, 2.843% 3/9/20441,11 | 10,500 | 8,557 | |
BX Trust, Series 2020-VIV2, Class C, 3.66% 3/9/20441,4,11 | 5,150 | 4,215 | |
BX Trust, Series 2020-VIV3, Class B, 3.662% 3/9/20441,4,11 | 4,948 | 4,126 | |
BXSC Commercial Mortgage Trust, Series 2022-WSS, Class B, (1-month USD CME Term SOFR + 2.092%) 7.424% 3/15/20351,4,11 | 13,740 | 13,610 | |
BXSC Commercial Mortgage Trust, Series 2022-WSS, Class D, (1-month USD CME Term SOFR + 3.188%) 8.521% 3/15/20351,4,11 | 2,485 | 2,459 | |
CD Commercial Mortgage Trust, Series 2017-CD6, Class A5, 3.456% 11/13/205011 | 10 | 9 | |
CENT Trust 2023-CITY, Series 2023-CITY, Class B, (1-month USD CME Term SOFR + 3.15%) 8.482% 9/15/20281,4,11 | 11,978 | 12,045 | |
Citigroup Commercial Mortgage Trust, Series 2023-SMRT, Class D, 6.048% 6/10/20281,4,11 | 28,218 | 26,177 | |
Citigroup Commercial Mortgage Trust, Series 2023-SMRT, Class C, 6.048% 6/10/20281,4,11 | 2,450 | 2,321 | |
Citigroup Commercial Mortgage Trust, Series 2023-PRM3, Class D, 6.572% 7/10/20281,4,11 | 13,008 | 12,124 | |
Citigroup Commercial Mortgage Trust, Series 2014-GC21, Class AS, 4.026% 5/10/204711 | 420 | 409 | |
Citigroup Commercial Mortgage Trust, Series 2014-GC21, Class B, 4.328% 5/10/20474,11 | 1,900 | 1,757 | |
Citigroup Commercial Mortgage Trust, Series 2014-GC25, Class AS, 4.017% 10/10/204711 | 438 | 420 | |
Citigroup Commercial Mortgage Trust, Series 2014-GC25, Class B, 4.345% 10/10/20474,11 | 3,964 | 3,510 | |
Citigroup Commercial Mortgage Trust, Series 2015-GC27, Class B, 3.772% 2/10/204811 | 7,892 | 7,364 | |
Citigroup Commercial Mortgage Trust, Series 2015-GC27, Class C, 4.566% 2/10/20484,11 | 3,656 | 3,333 | |
Citigroup Commercial Mortgage Trust, Series 2015-GC29, Class C, 4.276% 4/10/20484,11 | 2,660 | 2,422 | |
Citigroup Commercial Mortgage Trust, Series 2020-GC46, Class B, 3.15% 2/15/20534,11 | 1,835 | 1,301 | |
Citigroup Commercial Mortgage Trust, Series 2015-GC33, Class A3, 3.515% 9/10/205811 | 290 | 278 | |
COMM Mortgage Trust, Series 2020-CX, Class D, 2.773% 11/10/20461,4,11 | 6,000 | 4,297 | |
Commercial Mortgage Trust, Series 2012-CR3, Class AM, 3.416% 10/15/20451,11 | 23 | 21 | |
Commercial Mortgage Trust, Series 2014-CR14, Class AM, 4.526% 2/10/20474,11 | 2,558 | 2,454 | |
Commercial Mortgage Trust, Series 2014-UBS4, Class B, 4.701% 3/10/204711 | 1,024 | 1,003 | |
Commercial Mortgage Trust, Series 2014-CR16, Class C, 5.08% 4/10/20474,11 | 460 | 391 |
American Funds Multi-Sector Income Fund — Page 27 of 47
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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-CR18, Class B, 4.456% 7/15/20474,11 | USD381 | $367 | |
Commercial Mortgage Trust, Series 2014-UBS4, Class AM, 3.968% 8/10/204711 | 108 | 99 | |
Commercial Mortgage Trust, Series 2014-CR19, Class AM, 4.08% 8/10/204711 | 500 | 481 | |
Commercial Mortgage Trust, Series 2014-LC17, Class B, 4.49% 10/10/20474,11 | 950 | 899 | |
Commercial Mortgage Trust, Series 2014-UBS6, Class C, 4.581% 12/10/20474,11 | 605 | 514 | |
Commercial Mortgage Trust, Series 2015-CR26, Class B, 4.614% 10/10/20484,11 | 8,035 | 7,322 | |
Commercial Mortgage Trust, Series 2015-CCRE-26, Class C, 4.614% 10/10/20484,11 | 860 | 760 | |
Commercial Mortgage Trust, Series 2016-COR1, Class A4, 3.091% 10/10/204911 | 25 | 23 | |
Commercial Mortgage Trust, Series 2015-PC1, Class AM, 4.29% 7/10/20504,11 | 250 | 237 | |
Commercial Mortgage Trust, Series 2013-CR11, Class C, 4.828% 8/10/20501,4,11 | 56 | 54 | |
DATA 2023-CNTR Mortgage Trust, Series 2023-CNTR, Class D, 5.919% 8/12/20431,4,11 | 19,597 | 15,838 | |
DATA 2023-CNTR Mortgage Trust, Series 2023-CNTR, Class C, 5.919% 8/12/20431,4,11 | 2,000 | 1,751 | |
DC Commercial Mortgage Trust, Series 2023-DC, Class D, 7.379% 9/10/20401,4,11 | 22,681 | 21,212 | |
DC Commercial Mortgage Trust, Series 2023-DC, Class C, 7.379% 9/10/20401,4,11 | 4,080 | 4,067 | |
Extended Stay America Trust, Series 2021-ESH, Class A, (1-month USD CME Term SOFR + 1.194%) 6.527% 7/15/20381,4,11 | 6,928 | 6,876 | |
Extended Stay America Trust, Series 2021-ESH, Class B, (1-month USD CME Term SOFR + 1.494%) 6.827% 7/15/20381,4,11 | 364 | 360 | |
Extended Stay America Trust, Series 2021-ESH, Class C, (1-month USD CME Term SOFR + 1.814%) 7.147% 7/15/20381,4,11 | 2,282 | 2,251 | |
Extended Stay America Trust, Series 2021-ESH, Class D, (1-month USD CME Term SOFR + 2.364%) 7.697% 7/15/20381,4,11 | 8,270 | 8,150 | |
FIVE Mortgage Trust, Series 2023-V1, Class B, 6.618% 2/10/20564,11 | 7,432 | 7,200 | |
FIVE Mortgage Trust, Series 2023-V1, Class C, 6.618% 2/10/20564,11 | 2,917 | 2,646 | |
Fontainebleau Miami Beach Trust, CMO, Series 2019-FBLU, Class C, 3.75% 12/10/20361,11 | 500 | 477 | |
Fontainebleau Miami Beach Trust, CMO, Series 2019-FBLU, Class D, 4.095% 12/10/20361,4,11 | 5,455 | 5,199 | |
Great Wolf Trust, Series 2019-WOLF, Class A, (1-month USD CME Term SOFR + 1.149%) 6.252% 12/15/2036 (1-month USD CME Term SOFR + 1.348% on 12/15/2023)1,2,11 | 7,301 | 7,268 | |
Great Wolf Trust, Series 2019-WOLF, Class D, (1-month USD CME Term SOFR + 2.047%) 7.151% 12/15/20361,4,11 | 1,213 | 1,197 | |
GS Mortgage Securities Trust, Series 2018-HULA, Class A, (1-month USD CME Term SOFR + 1.223%) 6.367% 7/15/20251,4,11 | 2,287 | 2,272 | |
GS Mortgage Securities Trust, Series 2020-GS1, Class A2, 3.47% 11/10/204811 | 200 | 190 | |
Hawaii Hotel Trust, Series 2019-MAUI, Class E, (1-month USD CME Term SOFR + 2.207%) 7.54% 5/15/20381,4,11 | 4,000 | 3,908 | |
Hilton USA Trust, Series 2016-HHV, Class D, 4.194% 11/5/20381,11 | 1,230 | 1,122 | |
ILPT Commercial Mortgage Trust, Series 2022-LPF2, Class B, (1-month USD CME Term SOFR + 2.744%) 8.076% 10/15/20391,4,11 | 17,177 | 17,140 | |
ILPT Commercial Mortgage Trust, Series 2022-LPF2, Class C, (1-month USD CME Term SOFR + 3.493%) 8.825% 10/15/20391,4,11 | 4,364 | 4,335 | |
INTOWN Mortgage Trust, Series 2022-STAY, Class B, (1-month USD CME Term SOFR + 3.286%) 8.618% 8/15/20371,4,11 | 7,882 | 7,900 | |
INTOWN Mortgage Trust, Series 2022-STAY, Class C, (1-month USD CME Term SOFR + 3.685%) 9.017% 8/15/20371,4,11 | 3,120 | 3,127 | |
JPMBB Commercial Mortgage Securities Trust, Series 2014-C19, Class B, 4.394% 4/15/20474,11 | 920 | 887 | |
JPMorgan Chase Commercial Mortgage Securities Trust, Series 2022-OPO, Class C, 3.377% 1/5/20391,11 | 2,602 | 1,944 | |
JPMorgan Chase Commercial Mortgage Securities Trust, Series 2022-OPO, Class C, 3.565% 1/5/20391,4,11 | 2,092 | 1,484 | |
JPMorgan Chase Commercial Mortgage Securities Trust, Series 2021-410T, Class A, 2.287% 3/5/20421,11 | 768 | 591 | |
LUXE Commercial Mortgage Trust, Series 2021-TRIP, Class B, (1-month USD CME Term SOFR + 1.514%) 6.85% 10/15/20381,4,11 | 795 | 784 | |
LUXE Commercial Mortgage Trust, Series 21-TRIP, Class C, (1-month USD CME Term SOFR + 1.864%) 7.20% 10/15/20381,4,11 | 5,000 | 4,893 | |
MHC Commercial Mortgage Trust, CMO, Series 2021-MHC, Class A, (1-month USD CME Term SOFR + 0.915%) 6.248% 4/15/20381,4,11 | 1,415 | 1,397 | |
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2013-C11, Class A4, 4.02% 8/15/20464,11 | 636 | 633 |
American Funds Multi-Sector Income Fund — Page 28 of 47
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Bonds, notes & other debt instruments (continued) Mortgage-backed obligations (continued) Commercial mortgage-backed securities (continued) | Principal amount (000) | Value (000) | |
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2013-C12, Class AS, 4.482% 10/15/20464,11 | USD500 | $498 | |
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2014-C14, Class C, 5.222% 2/15/20474,11 | 5,800 | 5,674 | |
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2014-C17, Class A4, 3.443% 8/15/204711 | 151 | 149 | |
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2014-C18, Class AS, 4.11% 10/15/20474,11 | 1,189 | 1,142 | |
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C20, Class B, 4.16% 2/15/204811 | 18,113 | 16,895 | |
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C22, Class AS, 3.561% 4/15/204811 | 2,311 | 2,161 | |
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C24, Class AS, 4.036% 5/15/20484,11 | 3,586 | 3,356 | |
Morgan Stanley Bank of America Merrill Lynch Trust, Series 2015-C25, Class B, 4.668% 10/15/20484,11 | 74 | 68 | |
Morgan Stanley Capital I Trust, Series 2017-H1, Class A5, 3.53% 6/15/205011 | 45 | 41 | |
Morgan Stanley Capital I Trust, Series 2019-L3, Class B, 3.78% 11/15/20524,11 | 5,300 | 4,114 | |
MSFW Commercial Mortgage Trust, Series 2023-1, Class B, 6.906% 5/15/20334,11 | 4,566 | 4,469 | |
MSFW Commercial Mortgage Trust, Series 2023-1, Class C, 6.906% 5/15/20334,11 | 4,606 | 4,097 | |
Multifamily Connecticut Avenue Securities, Series 2019-1, Class M10, (30-day Average USD-SOFR + 3.364%) 8.679% 10/15/20491,4,11 | 1,307 | 1,279 | |
Multifamily Connecticut Avenue Securities, Series 2020-1, Class M10, (30-day Average USD-SOFR + 3.864%) 9.179% 3/25/20501,4,11 | 8,826 | 8,631 | |
Multifamily Structured Credit Risk, Series 21-MN1, Class M2, (30-day Average USD-SOFR + 3.75%) 9.065% 1/25/20511,4,11 | 2,730 | 2,643 | |
Multifamily Structured Credit Risk, Series 21-MN3, Class M2, 9.315% 11/25/20511,4,11 | 3,500 | 3,346 | |
One Market Plaza Trust, Series 2017-1MKT, Class A, 3.614% 2/10/20321,11 | 4,871 | 4,503 | |
One Market Plaza Trust, Series 2017-1MKT, Class C, 4.016% 2/10/20321,11 | 3,000 | 2,580 | |
SREIT Trust, Series 2021-FLWR, Class A, (1-month USD CME Term SOFR + 0.691%) 6.023% 7/15/20361,4,11 | 1,558 | 1,527 | |
SREIT Trust, Series 2021-FLWR, Class B, (1-month USD CME Term SOFR + 1.04%) 6.373% 7/15/20361,4,11 | 8,000 | 7,814 | |
SREIT Trust, Series 2021-MFP, Class A, (1-month USD CME Term SOFR + 0.845%) 6.177% 11/15/20381,4,11 | 1,442 | 1,416 | |
SREIT Trust, Series 2021-MFP, Class B, (1-month USD CME Term SOFR + 1.194%) 6.526% 11/15/20381,4,11 | 1,545 | 1,512 | |
SREIT Trust, Series 2021-MFP, Class C, (1-month USD CME Term SOFR + 1.443%) 6.776% 11/15/20381,4,11 | 2,077 | 2,030 | |
SREIT Trust, Series 2021-MFP, Class D, (1-month USD CME Term SOFR + 1.693%) 7.025% 11/15/20381,4,11 | 2,500 | 2,434 | |
StorageMart Commercial Mortgage Trust, Series 2022-MINI, Class A, (1-month USD CME Term SOFR + 1.00%) 6.332% 1/15/20391,4,11 | 11,440 | 11,154 | |
StorageMart Commercial Mortgage Trust, Series 2022-MINI, Class D, (1-month USD CME Term SOFR + 1.95%) 7.282% 1/15/20391,4,11 | 9,500 | 9,122 | |
StorageMart Commercial Mortgage Trust, Series 2022-MINI, Class E, (1-month USD CME Term SOFR + 2.70%) 8.033% 1/15/20391,4,11 | 4,693 | 4,457 | |
Wells Fargo Commercial Mortgage Trust, Series 2015-NXS1, Class C, 3.848% 5/15/20484,11 | 1,000 | 874 | |
Wells Fargo Commercial Mortgage Trust, Series 2015-C28, Class AS, 3.872% 5/15/20484,11 | 3,115 | 2,926 | |
Wells Fargo Commercial Mortgage Trust, Series 2015-C29, Class AS, 4.013% 6/15/20484,11 | 7,439 | 7,043 | |
Wells Fargo Commercial Mortgage Trust, Series 2016-C34, Class A4, 3.096% 6/15/204911 | 25 | 23 | |
Wells Fargo Commercial Mortgage Trust, Series 2017-C40, Class C, 4.447% 10/15/20504,11 | 2,154 | 1,791 | |
Wells Fargo Commercial Mortgage Trust, Series 2018-C46, Class B, 4.633% 8/15/205111 | 2,903 | 2,481 | |
Wells Fargo Commercial Mortgage Trust, Series 2019-C54, Class C, 3.81% 12/15/205211 | 2,000 | 1,410 | |
Wells Fargo Commercial Mortgage Trust, Series 2015-NXS3, Class D, 3.153% 9/15/20571,11 | 3,561 | 3,037 | |
Wells Fargo Commercial Mortgage Trust, Series 2015-NXS3, Class B, 4.646% 9/17/20574,11 | 4,100 | 3,807 | |
Wells Fargo Commercial Mortgage Trust, Series 2015-LC22, Class B, 4.696% 9/15/20584,11 | 6,750 | 6,257 | |
Wells Fargo Commercial Mortgage Trust, Series 2015-LC22, Class C, 4.696% 9/15/20584,11 | 110 | 99 | |
Wells Fargo Commercial Mortgage Trust, Series 2016-NXS5, Class B, 5.11% 1/15/20594,11 | 5,760 | 5,145 | |
WF-RBS Commercial Mortgage Trust, Series 2014-C19, Class AS, 4.271% 3/15/204711 | 417 | 409 | |
WF-RBS Commercial Mortgage Trust, Series 2014-C19, Class B, 4.723% 3/15/20474,11 | 512 | 479 | |
WF-RBS Commercial Mortgage Trust, Series 2014-C22, Class AS, 4.069% 9/15/20574,11 | 100 | 92 | |
WMRK Commercial Mortgage Trust, Series 2022-WMRK, Class A, (1-month USD CME Term SOFR + 2.789%) 8.121% 11/15/20271,4,11 | 15,228 | 15,265 | |
WSTN Trust, Series 2023-MAUI, Class B, 7.018% 8/5/20271,4,11 | 10,388 | 10,354 |
American Funds Multi-Sector Income Fund — Page 29 of 47
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Bonds, notes & other debt instruments (continued) Mortgage-backed obligations (continued) Commercial mortgage-backed securities (continued) | Principal amount (000) | Value (000) | |
WSTN Trust, Series 2023-MAUI, Class C, 7.69% 8/5/20271,4,11 | USD4,602 | $4,539 | |
WSTN Trust, Series 2023-MAUI, Class D, 8.455% 8/5/20271,4,11 | 8,993 | 8,872 | |
969,177 | |||
Collateralized mortgage-backed obligations (privately originated) 2.33% | |||
BINOM Securitization Trust, Series 2022-RPL1, Class A1, 3.00% 2/25/20611,4,11 | 1,047 | 917 | |
BRAVO Residential Funding Trust, Series 2020-RPL2, Class A1, 2.00% 5/25/20591,4,11 | 173 | 154 | |
BRAVO Residential Funding Trust, Series 2022-RPL1, Class A1, 2.75% 9/25/20611,11 | 1,523 | 1,329 | |
BRAVO Residential Funding Trust, Series 2022-R1, Class A, 3.125% 1/29/2070 (6.125% on 1/29/2025)1,2,11 | 11,065 | 9,970 | |
Cascade Funding Mortgage Trust, Series 2021-HB5, Class A, 0.801% 2/25/20311,4,11 | 90 | 88 | |
Cascade Funding Mortgage Trust, Series 2021-HB7, Class A, 1.151% 10/27/20311,4,11 | 591 | 566 | |
Cascade Funding Mortgage Trust, Series 2021-HB7, Class M1, 2.125% 10/27/20311,4,11 | 1,296 | 1,206 | |
Cascade Funding Mortgage Trust, Series 2023-HB12, Class M1, 4.25% 4/25/20331,4,11 | 6,729 | 5,998 | |
Cascade Funding Mortgage Trust, Series 2023-HB12, Class A, 4.25% 4/25/20331,4,11 | 2,430 | 2,335 | |
Cascade Funding Mortgage Trust, Series 2021-HB6, Class A, 0.898% 6/25/20361,4,11 | 647 | 629 | |
Cascade Funding Mortgage Trust, Series 2018-RM2, Class B, 4.00% 10/25/20681,4,11 | 1,028 | 994 | |
Cascade Funding Mortgage Trust, Series 2018-RM2, Class C, 4.00% 10/25/20681,4,11 | 756 | 720 | |
Cascade Funding Mortgage Trust, Series 2018-RM2, Class D, 4.00% 10/25/20681,4,11 | 756 | 712 | |
Cascade Funding Mortgage Trust, Series 2018-RM2, Class A, 4.00% 10/25/20681,4,11 | 643 | 634 | |
Cascade MH Asset Trust, Series 2022-MH1, Class A, 4.25% 8/25/2054 (5.25% on 11/25/2027)1,2,11 | 15,119 | 13,296 | |
CFCRE Commercial Mortgage Trust, Series 2016-C7, Class A2, 3.585% 12/10/205411 | 176 | 164 | |
Citigroup Mortgage Loan Trust, Series 2020-EXP1, Class A1A, 1.804% 5/25/20601,4,11 | 38 | 34 | |
Connecticut Avenue Securities Trust, Series 2018-R07, Class 1B1, (30-day Average USD-SOFR + 4.464%) 9.779% 4/25/20311,4,11 | 4,000 | 4,247 | |
Connecticut Avenue Securities Trust, Series 2021-R01, Class 1M1, (30-day Average USD-SOFR + 0.75%) 6.065% 10/25/20411,4,11 | 197 | 196 | |
Connecticut Avenue Securities Trust, Series 2021-R03, Class 1M1, (30-day Average USD-SOFR + 0.85%) 6.165% 12/25/20411,4,11 | 2,367 | 2,349 | |
Connecticut Avenue Securities Trust, Series 2022-R06, Class 1M1, (30-day Average USD-SOFR + 2.75%) 8.065% 5/25/20421,4,11 | — 9 | — 9 | |
Connecticut Avenue Securities Trust, Series 2023-R01, Class 1M1, (30-day Average USD-SOFR + 2.40%) 7.715% 12/25/20421,4,11 | 3,129 | 3,185 | |
Connecticut Avenue Securities Trust, Series 2023-R04, Class 1M2, (30-day Average USD-SOFR + 3.55%) 8.865% 5/25/20431,4,11 | 3,985 | 4,176 | |
Credit Suisse Mortgage Trust, Series 2020-NET, Class A, 2.257% 8/15/20371,11 | 110 | 98 | |
Credit Suisse Mortgage Trust, Series 2020-NET, Class B, 2.816% 8/15/20371,11 | 2,200 | 1,983 | |
Flagstar Mortgage Trust, Series 2021-10INV, Class A3, 2.50% 10/25/20511,4,11 | 719 | 547 | |
Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2022-DNA2, Class M1A, (30-day Average USD-SOFR + 1.30%) 6.615% 2/25/20421,4,11 | 11,602 | 11,578 | |
Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2022-DNA3, Class M1A, (30-day Average USD-SOFR + 2.00%) 7.315% 4/25/20421,4,11 | 1,291 | 1,301 | |
Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2022-DNA4, Class M1A, (30-day Average USD-SOFR + 2.20%) 7.515% 5/25/20421,4,11 | 1,551 | 1,568 | |
Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2022-DNA4, Class M1B, (30-day Average USD-SOFR + 3.35%) 8.665% 5/25/20421,4,11 | 1,400 | 1,454 | |
Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2022-DNA5, Class M1A, (30-day Average USD-SOFR + 2.95%) 8.265% 6/25/20421,4,11 | 9,018 | 9,255 | |
Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2022-DNA5, Class M1B, (30-day Average USD-SOFR + 4.50%) 9.815% 6/25/20421,4,11 | 21,990 | 23,652 | |
Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2022-DNA6, Class M1A, (30-day Average USD-SOFR + 2.15%) 7.465% 9/25/20421,4,11 | 483 | 488 | |
Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2022-DNA6, Class M1B, (30-day Average USD-SOFR + 3.70%) 9.015% 9/25/20421,4,11 | 1,460 | 1,533 |
American Funds Multi-Sector Income Fund — Page 30 of 47
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 2020-DNA1, Class M2, (30-day Average USD-SOFR + 1.814%) 7.129% 1/25/20501,4,11 | USD1,358 | $1,358 | |
Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-DNA2, Class M2, (30-day Average USD-SOFR + 1.964%) 7.279% 2/25/20501,4,11 | 3,913 | 3,921 | |
Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-DNA3, Class B2, (30-day Average USD-SOFR + 9.464%) 14.779% 6/25/20501,4,11 | 11,960 | 14,986 | |
Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-DNA3, Class B1, (30-day Average USD-SOFR + 5.214%) 10.529% 6/27/20501,4,11 | 11,949 | 12,946 | |
Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-HQA3, Class B2, (30-day Average USD-SOFR + 10.114%) 15.429% 7/25/20501,4,11 | 4,000 | 5,023 | |
Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-DNA4, Class B1, (30-day Average USD-SOFR + 6.114%) 11.429% 8/25/20501,4,11 | 7,696 | 8,593 | |
Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-DNA4, Class B2, (30-day Average USD-SOFR + 10.114%) 15.429% 8/25/20501,4,11 | 23,335 | 30,014 | |
Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-DNA5, Class M2, (30-day Average USD-SOFR + 2.80%) 7.909% 10/25/20501,4,11 | 1,294 | 1,307 | |
Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-DNA5, Class B1, (30-day Average USD-SOFR + 4.80%) 9.909% 10/25/20501,4,11 | 5,030 | 5,482 | |
Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-DNA5, Class B2, (30-day Average USD-SOFR + 11.50%) 16.609% 10/25/20501,4,11 | 9,173 | 11,858 | |
Freddie Mac Structured Agency Credit Risk Debt Notes, Series 2020-DNA6, Class M2, (30-day Average USD-SOFR + 2.00%) 7.315% 12/25/20501,4,11 | 3,676 | 3,706 | |
Home Partners of America Trust, Series 2021-2, Class A, 1.901% 12/17/20261,11 | 2,057 | 1,801 | |
Hundred Acre Wood Trust, Series 2021-INV1, Class A9, 2.50% 7/25/20511,4,11 | 2,390 | 2,035 | |
Hundred Acre Wood Trust, Series 2021-INV1, Class A27, 2.50% 7/25/20511,4,11 | 2,431 | 1,795 | |
JPMorgan Mortgage Trust, Series 2018-3, Class A1, 3.50% 9/25/20481,4,11 | 185 | 159 | |
JPMorgan Mortgage Trust, Series 2020-1, Class A15, 3.50% 6/25/20501,4,11 | 747 | 639 | |
Legacy Mortgage Asset Trust, Series 2019-GS7, Class A1, 3.25% 11/25/20591,4,11 | 195 | 193 | |
Legacy Mortgage Asset Trust, Series 2020-GS4, Class A1, 3.25% 2/25/20601,4,11 | 207 | 206 | |
Legacy Mortgage Asset Trust, Series 2020-GS3, Class A1, 3.25% 5/25/2060 (7.25% on 4/25/2024)1,2,11 | 1,425 | 1,415 | |
Legacy Mortgage Asset Trust, Series 2022-GS1, Class A1, 4.00% 2/25/2061 (7.00% on 4/25/2025)1,2,11 | 10,995 | 10,636 | |
Legacy Mortgage Asset Trust, Series 2021-GS2, Class A1, 1.75% 4/25/20611,4,11 | 781 | 725 | |
Legacy Mortgage Asset Trust, Series 2021-GS5, Class A1, 2.25% 7/25/2067 (5.25% on 11/25/2024)1,2,11 | 2,387 | 2,214 | |
Mello Warehouse Securitization Trust, Series 2021-3, Class A, (3-month USD CME Term SOFR + 0.965%) 6.284% 11/25/20551,4,11 | 1,616 | 1,607 | |
New Residential Mortgage Loan Trust, Series 2018-1A, Class A1A, 4.00% 12/25/20571,4,11 | 41 | 38 | |
New Residential Mortgage Loan Trust, Series 2019-2A, Class A1, 4.25% 12/25/20571,4,11 | 116 | 109 | |
New Residential Mortgage Loan Trust, Series 2018-5A, Class A1, 4.75% 12/25/20571,4,11 | 88 | 84 | |
NewRez Warehouse Securitization Trust, Series 2021-1, Class A, (1-month USD CME Term SOFR + 0.865%) 6.184% 5/25/20551,4,11 | 1,950 | 1,944 | |
Progress Residential Trust, Series 2019-SFR3, Class A, 2.271% 9/17/20361,11 | 395 | 381 | |
Progress Residential Trust, Series 2020-SFR2, Class A, 2.078% 6/18/20371,11 | 100 | 93 | |
Reverse Mortgage Investment Trust, Series 2021-HB1, Class A, 1.259% 11/25/20311,4,11 | 367 | 353 | |
Sequoia Mortgage Trust, Series 2013-2, Class A, 1.874% 2/25/20434,11 | 36 | 29 | |
Sequoia Mortgage Trust, Series 2018-CH1, Class A2, 3.50% 2/25/20481,4,11 | 47 | 41 | |
Towd Point Mortgage Trust, Series 2015-3, Class B1, 4.204% 3/25/20541,4,11 | 2,504 | 2,386 | |
Towd Point Mortgage Trust, Series 2017-2, Class B2, 4.192% 4/25/20571,4,11 | 2,400 | 2,025 | |
Towd Point Mortgage Trust, Series 2018-1, Class A2, 3.25% 1/25/20581,4,11 | 2,477 | 2,289 | |
Towd Point Mortgage Trust, Series 2018-5, Class A1A, 3.25% 7/25/20581,4,11 | 221 | 212 | |
Towd Point Mortgage Trust, Series 2019-4, Class M1B, 3.00% 10/25/20591,4,11 | 3,000 | 2,304 | |
Treehouse Park Improvement Association No.1 9.75% 12/1/20331,7 | 22,184 | 19,624 | |
Tricon American Homes, Series 2017-SFR2, Class E, 4.216% 1/17/20361,11 | 6,500 | 6,440 | |
Tricon Residential Trust, Series 2021-SFR1, Class A, 1.943% 7/17/20381,11 | 2,342 | 2,091 | |
Tricon Residential Trust, Series 2023-SFR1, Class C, 5.10% 7/17/20401,11 | 904 | 845 |
American Funds Multi-Sector Income Fund — Page 31 of 47
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 Trust, Series 2023-SFR1, Class E, 7.977% 7/17/20401,11 | USD1,087 | $1,082 | |
VM Fund I, LLC 8.625% 1/15/20281,7 | 7,828 | 7,711 | |
280,056 | |||
Total mortgage-backed obligations | 1,249,233 | ||
Asset-backed obligations 8.37% | |||
AB BSL CLO 2, Ltd., Series 2021-2, Class D, (3-month USD CME Term SOFR + 3.612%) 8.92% 4/15/20341,4,11 | 2,500 | 2,384 | |
ACHV ABS Trust, Series 2023-2PL, Class B, 6.88% 5/20/20301,11 | 1,593 | 1,594 | |
Affirm, Inc., Series 2023-B, Class D, 8.78% 9/15/20281,11 | 1,755 | 1,762 | |
Affirm, Inc., Series 2023-B, Class E, 11.32% 9/15/20281,11 | 2,553 | 2,572 | |
Allegro CLO, Ltd., Series 2016-1A, Class AR2, (3-month USD CME Term SOFR + 1.212%) 6.52% 1/15/20301,4,11 | 2,135 | 2,127 | |
Allegro CLO, Ltd., Series 2017-1A, Class AR, (3-month USD CME Term SOFR + 1.212%) 6.52% 10/16/20301,4,11 | 449 | 448 | |
American Credit Acceptance Receivables Trust, Series 2021-1, Class C, 0.83% 3/15/20271,11 | 17 | 17 | |
American Credit Acceptance Receivables Trust, Series 2021-1, Class D, 1.14% 3/15/20271,11 | 100 | 97 | |
American Credit Acceptance Receivables Trust, Series 2021-3, Class C, 0.98% 11/15/20271,11 | 2,177 | 2,150 | |
American Credit Acceptance Receivables Trust, Series 2022-1, Class C, 2.12% 3/13/20281,11 | 2,000 | 1,957 | |
American Credit Acceptance Receivables Trust, Series 2022-1, Class D, 2.46% 3/13/20281,11 | 2,000 | 1,896 | |
American Credit Acceptance Receivables Trust, Series 2022-3, Class C, 4.86% 10/13/20281,11 | 7,009 | 6,882 | |
American Credit Acceptance Receivables Trust, Series 2022-3, Class D, 5.83% 10/13/20281,11 | 1,663 | 1,620 | |
American Credit Acceptance Receivables Trust, Series 2023-2, Class D, 6.47% 8/13/20291,11 | 14,180 | 13,956 | |
ARES CLO, Ltd., Series 2013-2, Class DR2, (3-month USD CME Term SOFR + 3.511%) 8.877% 10/28/20341,4,11 | 3,000 | 2,949 | |
Avis Budget Rental Car Funding (AESOP), LLC, Series 2020-1A, Class D, 3.34% 8/20/20261,11 | 10,000 | 9,052 | |
Avis Budget Rental Car Funding (AESOP), LLC, Series 2020-2A, Class B, 2.96% 2/20/20271,11 | 100 | 93 | |
Avis Budget Rental Car Funding (AESOP), LLC, Series 2020-2, Class C, 4.25% 2/20/20271,11 | 6,550 | 6,133 | |
Avis Budget Rental Car Funding (AESOP), LLC, Series 2022-5, Class A, 6.12% 4/20/20271,11 | 5,911 | 5,900 | |
Avis Budget Rental Car Funding (AESOP), LLC, Series 2022-5, Class B, 7.09% 4/20/20271,11 | 14,733 | 14,876 | |
Avis Budget Rental Car Funding (AESOP), LLC, Series 2021-1A, Class B, 1.63% 8/20/20271,11 | 1,062 | 932 | |
Avis Budget Rental Car Funding (AESOP), LLC, Series 2021-1A, Class C, 2.13% 8/20/20271,11 | 551 | 481 | |
Avis Budget Rental Car Funding (AESOP), LLC, Series 2021-1A, Class D, 3.71% 8/20/20271,11 | 8,000 | 6,948 | |
Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-3A, Class B, 6.12% 2/22/20281,11 | 3,841 | 3,792 | |
Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-3A, Class C, 7.05% 2/22/20281,11 | 9,363 | 9,270 | |
Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-5, Class C, 6.85% 4/20/20281,11 | 9,167 | 9,018 | |
Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-4A, Class B, 6.32% 6/20/20291,11 | 5,116 | 5,052 | |
Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-4A, Class C, 7.24% 6/20/20291,11 | 6,230 | 6,200 | |
Avis Budget Rental Car Funding (AESOP), LLC, Series 2023-6, Class C, 7.03% 12/20/20291,11 | 11,000 | 10,752 | |
Babson CLO, Ltd., Series 2021-1, Class D, (3-month USD CME Term SOFR + 3.162%) 8.513% 4/25/20341,4,11 | 4,500 | 4,346 | |
Ballyrock CLO, Ltd., Series 2019-2A, Class A1AR, (3-month USD CME Term SOFR + 1.262%) 6.641% 11/20/20301,4,11 | 1,016 | 1,014 | |
Bankers Healthcare Group Securitization Trust, Series 2020-A, Class A, 2.56% 9/17/20311,11 | 55 | 54 | |
Bankers Healthcare Group Securitization Trust, Series 2020-A, Class B, 3.59% 9/17/20311,11 | 300 | 286 | |
Bankers Healthcare Group Securitization Trust, Series 2020-A, Class C, 5.17% 9/17/20311,11 | 300 | 282 | |
Bankers Healthcare Group Securitization Trust, Series 2021-A, Class A, 1.42% 11/17/20331,11 | 418 | 390 | |
Bankers Healthcare Group Securitization Trust, Series 2021-A, Class B, 2.79% 11/17/20331,11 | 4,733 | 4,182 | |
Bankers Healthcare Group Securitization Trust, Series 2021-A, Class C, 3.69% 11/17/20331,11 | 1,420 | 1,106 | |
Bankers Healthcare Group Securitization Trust, Series 2021-B, Class A, 0.90% 10/17/20341,11 | 313 | 301 | |
Bankers Healthcare Group Securitization Trust, Series 2022-A, Class A, 1.71% 2/20/20351,11 | 1,980 | 1,914 | |
Bankers Healthcare Group Securitization Trust, Series 2022-A, Class B, 2.70% 2/20/20351,11 | 5,000 | 4,513 | |
Blackbird Capital II Aircraft Lease, Ltd. / Blackbird Capital II Aircraft Lease US, LLC, Series 2021-1, Class A, 2.443% 7/15/20461,11 | 2,086 | 1,785 | |
Blackbird Capital II Aircraft Lease, Ltd. / Blackbird Capital II Aircraft Lease US, LLC, Series 2021-1, Class B, 3.446% 7/15/20461,11 | 677 | 566 |
American Funds Multi-Sector Income Fund — Page 32 of 47
unaudited
Bonds, notes & other debt instruments (continued) Asset-backed obligations (continued) | Principal amount (000) | Value (000) | |
Carvana Auto Receivables Trust, Series 2021-N4, Class C, 1.72% 9/11/202811 | USD283 | $268 | |
Castlelake Aircraft Securitization Trust, Series 2021-1, Class A, 2.868% 5/11/20371,11 | 2,441 | 2,071 | |
Castlelake Aircraft Securitization Trust, Series 2017-1R, Class A, 2.741% 8/15/20411,11 | 389 | 353 | |
Cent CLO, Ltd., Series 2014-21A, Class AR, (3-month USD CME Term SOFR + 1.231%) 6.589% 7/27/20301,4,11 | 939 | 936 | |
CF Hippolyta, LLC, Series 2020-1, Class A2, 1.99% 7/15/20601,11 | 311 | 261 | |
CF Hippolyta, LLC, Series 2021-1, Class A1, 1.53% 3/15/20611,11 | 94 | 83 | |
CF Hippolyta, LLC, Series 2022-1, Class A1, 5.97% 8/15/20621,11 | 14,456 | 14,080 | |
CFG Investments, Ltd., Series 2023-1, Class A, 8.56% 7/25/20341,11 | 10,706 | 10,671 | |
CIFC Funding, Ltd., CLO, Series 2017-1A, Class B, (3-month USD CME Term SOFR + 1.962%) 7.295% 4/23/20291,4,11 | 1,750 | 1,750 | |
CLI Funding V, LLC, Series 2020-2A, Class B, 3.56% 9/15/20451,11 | 194 | 170 | |
CLI Funding V, LLC, Series 2020-1A, Class B, 3.62% 9/18/20451,11 | 251 | 220 | |
CPS Auto Receivables Trust, Series 2020-B, Class D, 4.75% 4/15/20261,11 | 25 | 24 | |
CPS Auto Receivables Trust, Series 2021-B, Class C, 1.23% 3/15/20271,11 | 1,079 | 1,067 | |
CPS Auto Receivables Trust, Series 2021-B, Class D, 1.52% 3/15/20271,11 | 2,000 | 1,921 | |
CPS Auto Receivables Trust, Series 2022-B, Class D, 5.19% 8/15/20281,11 | 6,000 | 5,784 | |
CPS Auto Receivables Trust, Series 2022-C, Class C, 5.28% 4/15/20301,11 | 3,770 | 3,689 | |
CPS Auto Receivables Trust, Series 2022-C, Class D, 6.45% 4/15/20301,11 | 3,377 | 3,333 | |
Credit Acceptance Auto Loan Trust, Series 2021-3A, Class B, 1.38% 7/15/20301,11 | 2,000 | 1,904 | |
Credit Acceptance Auto Loan Trust, Series 2021-3A, Class C, 1.63% 9/16/20301,11 | 3,000 | 2,810 | |
Credit Acceptance Auto Loan Trust, Series 2022-1A, Class C, 5.70% 10/15/20321,11 | 6,000 | 5,768 | |
Credit Acceptance Auto Loan Trust, Series 2022-1A, Class D, 6.63% 12/15/20321,11 | 8,000 | 7,705 | |
Credit Acceptance Auto Loan Trust, Series 2023-1, Class B, 7.02% 5/16/20331,11 | 7,000 | 6,994 | |
Credit Acceptance Auto Loan Trust, Series 2023-1, Class C, 7.71% 7/15/20331,11 | 10,000 | 10,042 | |
Credit Acceptance Auto Loan Trust, Series 2023-3, Class B, 7.09% 10/17/20331,11 | 3,920 | 3,898 | |
Credit Acceptance Auto Loan Trust, Series 2023-3, Class C, 7.62% 12/15/20331,11 | 4,519 | 4,489 | |
Drive Auto Receivables Trust, Series 2021-3, Class B, 1.11% 5/15/202611 | 1,635 | 1,625 | |
Drive Auto Receivables Trust, Series 2020-2, Class D, 3.05% 5/15/202811 | 195 | 193 | |
DriveTime Auto Owner Trust, Series 2020-2A, Class D, 4.73% 3/16/20261,11 | 850 | 841 | |
DriveTime Auto Owner Trust, Series 2021-1A, Class C, 0.84% 10/15/20261,11 | 66 | 65 | |
DriveTime Auto Owner Trust, Series 2021-1A, Class D, 1.16% 11/16/20261,11 | 100 | 94 | |
DriveTime Auto Owner Trust, Series 2021-2A, Class C, 1.10% 2/16/20271,11 | 616 | 602 | |
DriveTime Auto Owner Trust, Series 2021-2A, Class D, 1.50% 2/16/20271,11 | 277 | 259 | |
DriveTime Auto Owner Trust, Series 2021-3A, Class C, 0.87% 5/17/20271,11 | 2,000 | 1,932 | |
DriveTime Auto Owner Trust, Series 2021-3A, Class D, 1.31% 5/17/20271,11 | 2,000 | 1,817 | |
DriveTime Auto Owner Trust, Series 2023-3, Class C, 6.40% 5/15/20291,11 | 9,464 | 9,433 | |
DriveTime Auto Owner Trust, Series 2023-3, Class D, 7.12% 5/15/20291,11 | 9,784 | 9,809 | |
Dryden Senior Loan Fund, CLO, Series 2017-47A, Class A2R, (3-month USD CME Term SOFR + 1.532%) 6.84% 4/15/20281,4,11 | 2,000 | 1,995 | |
Dryden Senior Loan Fund, CLO, Series 2017-47A, Class BR, (3-month USD CME Term SOFR + 1.732%) 7.04% 4/15/20281,4,11 | 2,000 | 1,970 | |
Dryden Senior Loan Fund, CLO, Series 2017-47A, Class CR, (3-month USD CME Term SOFR + 2.312%) 7.62% 4/15/20281,4,11 | 2,000 | 1,979 | |
Dryden Senior Loan Fund, CLO, Series 2013-28A, Class A2LR, (3-month USD CME Term SOFR + 1.912%) 7.276% 8/15/20301,4,11 | 3,000 | 2,959 | |
EDvestinU Private Education Loan, LLC, Series 2021-A, Class A, 1.80% 11/25/20451,11 | 128 | 111 | |
Exeter Automobile Receivables Trust, Series 2020-2, Class D, 4.73% 4/15/20261,11 | 69 | 68 | |
Exeter Automobile Receivables Trust, Series 2019-3, Class E, 4.00% 8/17/20261,11 | 3,595 | 3,540 | |
Exeter Automobile Receivables Trust, Series 2022-2A, Class D, 4.56% 7/17/202811 | 106 | 101 | |
Exeter Automobile Receivables Trust, Series 2022-4A, Class C, 4.92% 12/15/202811 | 9,678 | 9,484 | |
Exeter Automobile Receivables Trust, Series 2022-4A, Class D, 5.98% 12/15/202811 | 5,907 | 5,797 | |
Exeter Automobile Receivables Trust, Series 2023-1, Class E, 12.07% 9/16/20301,11 | 9,863 | 10,531 | |
Exeter Automobile Receivables Trust, Series 2023-2, Class E, 9.75% 11/15/20301,11 | 4,243 | 4,259 | |
Exeter Automobile Receivables Trust, Series 2023-3, Class E, 9.98% 1/15/20311,11 | 3,258 | 3,309 | |
Exeter Automobile Receivables Trust, Series 2023-4, Class E, 9.57% 2/18/20311,11 | 10,232 | 10,280 |
American Funds Multi-Sector Income Fund — Page 33 of 47
unaudited
Bonds, notes & other debt instruments (continued) Asset-backed obligations (continued) | Principal amount (000) | Value (000) | |
First Investors Auto Owner Trust, Series 2021-1A, Class B, 0.89% 3/15/20271,11 | USD223 | $220 | |
First Investors Auto Owner Trust, Series 2021-1A, Class D, 1.62% 3/15/20271,11 | 300 | 281 | |
Flagship Credit Auto Trust, Series 2023-3, Class C, 6.01% 7/16/20291,11 | 2,442 | 2,428 | |
Flagship Credit Auto Trust, Series 2023-3, Class D, 6.58% 8/15/20291,11 | 1,238 | 1,225 | |
Flagship Credit Auto Trust, Series 2023-3, Class E, 9.74% 6/17/20301,11 | 3,417 | 3,418 | |
Ford Credit Floorplan Master Owner Trust, Series 2023-1, Class D, 6.62% 5/15/20281,11 | 11,674 | 11,433 | |
Fortress Credit BSL, Ltd., CLO, Series 2023-1, Class B1, (3-month USD CME Term SOFR + 3.00%) 7.775% 4/23/20361,4,11 | 13,282 | 13,434 | |
Freedom Financial, Series 2022-1FP, Class B, 1.91% 3/19/20291,11 | 485 | 482 | |
GCI Funding I, LLC, Series 2020-1, Class B, 3.81% 10/18/20451,11 | 103 | 91 | |
GCI Funding I, LLC, Series 2021-1, Class B, 3.04% 6/18/20461,11 | 2,376 | 1,934 | |
Generate CLO, Ltd., Series 2023-12, Class D, (3-month USD CME Term SOFR + 5.25%) 10.589% 7/20/20361,4,11 | 2,000 | 2,006 | |
Global SC Finance SRL, Series 2021-1A, Class B, 2.76% 4/17/20411,11 | 1,482 | 1,266 | |
Global SC Finance V SRL, Series 2019-1A, Class B, 4.81% 9/17/20391,11 | 296 | 272 | |
Global SC Finance V SRL, Series 2020-1A, Class B, 3.55% 10/17/20401,11 | 333 | 299 | |
Global SC Finance VII SRL, Series 2021-2A, Class B, 2.49% 8/17/20411,11 | 615 | 522 | |
GLS Auto Receivables Trust, Series 2023-3, Class C, 6.01% 5/15/20291,11 | 3,017 | 3,005 | |
GLS Auto Receivables Trust, Series 2023-3, Class D, 6.44% 5/15/20291,11 | 2,728 | 2,699 | |
GLS Auto Receivables Trust, Series 2023-3, Class E, 9.27% 8/15/20301,11 | 3,100 | 3,086 | |
GM Financial Automobile Leasing Trust, Series 2023-3, Class A3, 5.38% 11/20/202611 | 4,056 | 4,042 | |
GM Financial Automobile Leasing Trust, Series 2023-3, Class A4, 5.44% 8/20/202711 | 3,430 | 3,417 | |
GSAMP Trust, Series 2005-SD2, Class M3, (1-month USD CME Term SOFR + 1.464%) 6.784% 4/25/20351,4,11 | 486 | 478 | |
HalseyPoint CLO, Ltd., Series 2023-7, Class B, (3-month USD CME Term SOFR + 2.95%) 8.209% 7/20/20361,4,11 | 12,270 | 12,340 | |
Hertz Vehicle Financing III, LLC, Series 2021-A, Class B, 9.44% 6/25/20251,7,11 | 10,827 | 10,827 | |
Hertz Vehicle Financing III, LLC, Series 2021-1A, Class B, 1.56% 12/26/20251,11 | 1,220 | 1,157 | |
Hertz Vehicle Financing III, LLC, Series 2021-1A, Class C, 2.05% 12/26/20251,11 | 2,336 | 2,215 | |
Hertz Vehicle Financing III, LLC, Series 2022-1A, Class B, 2.19% 6/25/20261,11 | 1,776 | 1,657 | |
Hertz Vehicle Financing III, LLC, Series 2022-1A, Class C, 2.63% 6/25/20261,11 | 3,492 | 3,258 | |
Hertz Vehicle Financing III, LLC, Series 2023-1, Class C, 6.91% 6/25/20271,11 | 5,500 | 5,458 | |
Hertz Vehicle Financing III, LLC, Series 2021-2A, Class B, 2.12% 12/27/20271,11 | 1,317 | 1,156 | |
Hertz Vehicle Financing III, LLC, Series 2021-2A, Class C, 2.52% 12/27/20271,11 | 826 | 720 | |
Hertz Vehicle Financing III, LLC, Series 2022-2A, Class C, 2.95% 6/26/20281,11 | 4,025 | 3,480 | |
Hertz Vehicle Financing III, LLC, Series 2023-2, Class C, 7.13% 9/25/20291,11 | 5,777 | 5,703 | |
Hertz Vehicle Financing, LLC, Series 2021-1, Class D, 3.98% 12/26/20251,11 | 2,750 | 2,603 | |
Hertz Vehicle Financing, LLC, Series 2023-1, Class 1D, 9.13% 6/25/20271,11 | 2,688 | 2,675 | |
Hertz Vehicle Financing, LLC, Series 2023-3, Class B, 6.53% 2/25/20281,11 | 6,769 | 6,734 | |
Hertz Vehicle Financing, LLC, Series 2023-3, Class C, 7.26% 2/25/20281,11 | 10,000 | 9,949 | |
Hertz Vehicle Financing, LLC, Series 2023-3, Class D, 9.43% 2/25/20281,11 | 4,583 | 4,593 | |
Hertz Vehicle Financing, LLC, Series 2022-2, Class D, 5.16% 6/26/20281,11 | 9,556 | 8,277 | |
Hertz Vehicle Financing, LLC, Series 2022-5, Class D, 6.78% 9/25/20281,11 | 7,167 | 6,521 | |
Hertz Vehicle Financing, LLC, Series 2023-4, Class B, 6.73% 3/25/20301,11 | 7,762 | 7,675 | |
Hertz Vehicle Financing, LLC, Series 2023-4, Class C, 7.51% 3/25/20301,11 | 13,331 | 13,378 | |
Hertz Vehicle Financing, LLC, Series 2023-4, Class D, 9.44% 3/25/20301,11 | 4,480 | 4,541 | |
Hyundai Auto Receivables Trust, Series 2023-B, Class A4, 5.31% 8/15/202911 | 4,151 | 4,136 | |
KKR Static CLO I, Ltd., Series 2022-1A, Class B, (3-month USD CME Term SOFR + 2.60%) 7.926% 7/20/20311,4,11 | 16,000 | 16,070 | |
LAD Auto Receivables Trust, Series 2021-1A, Class B, 1.94% 11/16/20261,11 | 751 | 718 | |
LAD Auto Receivables Trust, Series 2021-1A, Class C, 2.35% 4/15/20271,11 | 3,000 | 2,825 | |
LAD Auto Receivables Trust, Series 2023-1, Class C, 6.18% 12/15/20271,11 | 3,556 | 3,527 | |
LAD Auto Receivables Trust, Series 2022-1, Class C, 6.85% 4/15/20301,11 | 4,463 | 4,437 | |
LAD Auto Receivables Trust, Series 2023-2, Class D, 6.30% 2/15/20311,11 | 958 | 937 | |
Madison Park Funding, Ltd., CLO, Series 2015-17A, Class AR2, (3-month USD CME Term SOFR + 1.262%) 6.595% 7/21/20301,4,11 | 1,931 | 1,926 | |
Marathon CLO, Ltd., Series 2017-9A, Class A1AR, (3-month USD CME Term SOFR + 1.412%) 6.72% 4/15/20291,4,11 | 903 | 902 |
American Funds Multi-Sector Income Fund — Page 34 of 47
unaudited
Bonds, notes & other debt instruments (continued) Asset-backed obligations (continued) | Principal amount (000) | Value (000) | |
Marble Point CLO, Ltd., Series 2020-1, Class D, (3-month USD CME Term SOFR + 4.012%) 9.338% 4/20/20331,4,11 | USD3,829 | $3,681 | |
Marble Point CLO, Ltd., Series 2019-2, Class D1R, (3-month USD CME Term SOFR + 3.662%) 8.982% 11/16/20341,4,11 | 2,000 | 1,887 | |
Mission Lane Credit Card Master Trust, Series 2022-A, Class A, 6.92% 9/15/20271,11 | 11,934 | 11,813 | |
Mission Lane Credit Card Master Trust, Series 2022-A, Class B, 9.20% 9/15/20271,11 | 500 | 493 | |
Mission Lane Credit Card Master Trust, Series 2022-A, Class C, 11.82% 9/15/20271,11 | 9,600 | 9,419 | |
Mission Lane Credit Card Master Trust, Series 2022-B, Class A1, 8.25% 1/15/20287,8,11 | 20,015 | 19,983 | |
Mission Lane Credit Card Master Trust, Series 2022-B, Class A2, 8.73% 1/15/20287,8,11 | 3,200 | 3,195 | |
Mission Lane Credit Card Master Trust, Series 2022-B, Class B, 10.42% 1/15/20287,8,11 | 11,980 | 12,085 | |
Mission Lane Credit Card Master Trust, Series 2022-B, Class C, 12.09% 1/15/20287,8,11 | 10,745 | 10,911 | |
Mission Lane Credit Card Master Trust, Series 2022-B, Class D, 14.45% 1/15/20287,8,11 | 3,500 | 3,544 | |
Mission Lane Credit Card Master Trust, Series 2023-A, Class B, 8.15% 7/17/20281,11 | 5,122 | 5,081 | |
Mission Lane Credit Card Master Trust, Series 2023-A, Class C, 10.03% 7/17/20281,11 | 17,200 | 17,217 | |
Mission Lane Credit Card Master Trust, Series 2023-A, Class E, 15.73% 7/17/20281,11 | 6,240 | 6,177 | |
Mission Lane Credit Card Master Trust, Series 2023-B, Class D, 12.43% 11/15/20281,11 | 11,499 | 11,499 | |
Mission Lane Credit Card Master Trust, Series 2023-B, Class E, 15.56% 11/15/20281,11 | 15,142 | 15,142 | |
Navient Student Loan Trust, Series 2021-FA, Class A, 1.11% 2/18/20701,11 | 2,688 | 2,244 | |
Navigator Aircraft ABS, Ltd., Series 2021-1, Class A, 2.771% 11/15/20461,11 | 3,586 | 3,125 | |
Navigator Aircraft ABS, Ltd., Series 2021-1, Class B, 3.571% 11/15/20461,11 | 815 | 668 | |
Nelnet Student Loan Trust, Series 2021-C, Class AFX, 1.32% 4/20/20621,11 | 2,390 | 2,140 | |
Nelnet Student Loan Trust, Series 2021-A, Class APT1, 1.36% 4/20/20621,11 | 2,227 | 1,986 | |
Nelnet Student Loan Trust, Series 2021-B, Class AFX, 1.42% 4/20/20621,11 | 1,857 | 1,655 | |
Nelnet Student Loan Trust, Series 2021-CA, Class C, 3.36% 4/20/20621,11 | 1,328 | 1,044 | |
Nelnet Student Loan Trust, Series 2021-CA, Class D, 4.44% 4/20/20621,11 | 1,889 | 1,486 | |
New Economy Assets Phase 1 Issuer, LLC, Series 2021-1, Class A1, 1.91% 10/20/20611,11 | 4,050 | 3,498 | |
Newark BSL CLO 2, Ltd., Series 2017-1A, Class A1R, (3-month USD CME Term SOFR + 1.232%) 6.583% 7/25/20301,4,11 | 593 | 589 | |
OnDeck Asset Securitization Trust, LLC, Series 2021-1A, Class A, 1.59% 5/17/20271,11 | 2,475 | 2,384 | |
OnDeck Asset Securitization Trust, LLC, Series 2021-1A, Class B, 2.28% 5/17/20271,11 | 1,167 | 1,117 | |
OnDeck Asset Securitization Trust, LLC, Series 2021-1A, Class C, 2.97% 5/17/20271,11 | 1,150 | 1,087 | |
OnDeck Asset Securitization Trust, LLC, Series 2021-1A, Class D, 4.94% 5/17/20271,11 | 1,150 | 1,069 | |
OnDeck Asset Securitization Trust, LLC, Series 2023-1A, Class B, 8.25% 8/19/20301,11 | 15,283 | 15,159 | |
Oportun Funding, LLC, Series 2021-A, Class A, 1.21% 3/8/20281,11 | 1,763 | 1,695 | |
Oportun Funding, LLC, Series 2021-B, Class A, 1.47% 5/8/20311,11 | 1,727 | 1,578 | |
Oportun Funding, LLC, Series 2021-B, Class B, 1.96% 5/8/20311,11 | 2,958 | 2,691 | |
Oportun Funding, LLC, Series 2021-B, Class C, 3.65% 5/8/20311,11 | 2,525 | 2,319 | |
Oportun Funding, LLC, Series 2021-B, Class D, 5.41% 5/8/20311,11 | 1,000 | 906 | |
Oportun Funding, LLC, Series 2022-A, Class B, 5.25% 6/9/20311,11 | 8,500 | 7,964 | |
Orion CLO, Ltd., Series 2023-1, Class C, (3-month USD CME Term SOFR + 3.25%) 8.638% 10/25/20361,4,11 | 5,133 | 5,136 | |
Orion CLO, Ltd., Series 2023-1, Class D, (3-month USD CME Term SOFR + 5.15%) 10.538% 10/25/20361,4,11 | 4,162 | 4,162 | |
Palmer Square Loan Funding, CLO, Series 2021-1, Class A2, (3-month USD CME Term SOFR + 1.512%) 6.838% 4/20/20291,4,11 | 500 | 495 | |
Palmer Square Loan Funding, CLO, Series 2021-1, Class B, (3-month USD CME Term SOFR + 2.062%) 7.388% 4/20/20291,4,11 | 890 | 882 | |
Palmer Square Loan Funding, CLO, Series 2021-2A, Class A1, (3-month USD CME Term SOFR + 1.062%) 6.441% 5/20/20291,4,11 | 252 | 251 | |
Palmer Square Loan Funding, CLO, Series 2021-2A, Class A2, (3-month USD CME Term SOFR + 1.512%) 6.891% 5/20/20291,4,11 | 1,000 | 993 | |
Palmer Square Loan Funding, CLO, Series 2021-2A, Class B, (3-month USD CME Term SOFR + 1.662%) 7.041% 5/20/20291,4,11 | 500 | 496 | |
Palmer Square Loan Funding, CLO, Series 2021-4A, Class A2, (3-month USD CME Term SOFR + 1.662%) 6.97% 10/15/20291,4,11 | 4,278 | 4,219 | |
Palmer Square Loan Funding, CLO, Series 2023-1, Class C, (3-month USD CME Term SOFR + 4.75%) 9.862% 7/20/20311,4,11 | 9,728 | 9,764 |
American Funds Multi-Sector Income Fund — Page 35 of 47
unaudited
Bonds, notes & other debt instruments (continued) Asset-backed obligations (continued) | Principal amount (000) | Value (000) | |
PFS Financing Corp., Series 2022-D, Class A, 4.27% 8/16/20271,11 | USD4,546 | $4,409 | |
PFS Financing Corp., Series 2022-D, Class B, 4.90% 8/16/20271,11 | 3,594 | 3,502 | |
PPM CLO, Ltd., Series 2022-6, Class B, (3-month USD CME Term SOFR + 3.60%) 8.926% 1/20/20311,4,11 | 14,933 | 14,954 | |
Prestige Auto Receivables Trust, Series 2023-1, Class D, 6.33% 4/16/20291,11 | 5,191 | 5,084 | |
Race Point CLO, Ltd., Series 2015-9A, Class A1A2, (3-month USD CME Term SOFR + 1.202%) 6.51% 10/15/20301,4,11 | 1,194 | 1,190 | |
RAD CLO, Ltd., Series 2023-20, Class D, (3-month USD CME Term SOFR + 5.00%) 10.406% 7/20/20361,4,11 | 10,880 | 10,842 | |
Research-Driven Pagaya Motor Asset Trust I, Series 2022-3, Class A, 5.38% 11/25/20301,11 | 12,281 | 12,085 | |
Research-Driven Pagaya Motor Asset Trust I, Series 2022-3, Class B, 6.58% 11/25/20301,11 | 13,829 | 13,307 | |
Rockford Tower CLO, Ltd., Series 2018-2A, Class B, (3-month USD CME Term SOFR + 2.062%) 7.388% 10/20/20311,4,11 | 1,260 | 1,256 | |
Santander Consumer Auto Receivables Trust, Series 2020-A, Class C, 3.71% 2/17/20261,11 | 46 | 46 | |
Santander Drive Auto Receivables Trust, Series 2022-5, Class B, 4.43% 3/15/202711 | 2,589 | 2,540 | |
Santander Drive Auto Receivables Trust, Series 2021-3, Class C, 0.95% 9/15/202711 | 748 | 737 | |
Santander Drive Auto Receivables Trust, Series 2021-3, Class D, 1.33% 9/15/202711 | 1,474 | 1,384 | |
Santander Drive Auto Receivables Trust, Series 2022-7, Class B, 5.95% 1/17/202811 | 1,100 | 1,095 | |
Santander Drive Auto Receivables Trust, Series 2022-5, Class C, 4.74% 10/15/202811 | 8,222 | 7,995 | |
Santander Drive Auto Receivables Trust, Series 2022-7, Class C, 6.69% 3/17/203111 | 3,981 | 4,015 | |
Shackleton CLO, Ltd., Series 2013-4RA, Class A2A, (3-month USD CME Term SOFR + 1.862%) 7.163% 4/13/20311,4,11 | 2,275 | 2,243 | |
SMB Private Education Loan Trust, Series 2023-C, Class A1A, 5.67% 11/15/20521,11 | 8,134 | 8,023 | |
SMB Private Education Loan Trust, Series 2021-A, Class APT2, 1.07% 1/15/20531,11 | 302 | 258 | |
SMB Private Education Loan Trust, Series 2021-A, Class D2, 3.86% 1/15/20531,11 | 8,728 | 7,832 | |
SMB Private Education Loan Trust, Series 2021-A, Class D1, 3.86% 1/15/20531,11 | 6,964 | 6,249 | |
SMB Private Education Loan Trust, Series 2023-A, Class B, 5.88% 1/15/20531,11 | 7,053 | 6,689 | |
SMB Private Education Loan Trust, Series 2022-A, Class D, 4.75% 11/16/20541,11 | 2,083 | 1,899 | |
SMB Private Education Loan Trust, Series 2022-B, Class D, 5.95% 2/16/20551,11 | 13,111 | 12,220 | |
SMB Private Education Loan Trust, Series 2023-B, Class D, 7.56% 10/16/20561,11 | 21,000 | 20,245 | |
SMB Private Education Loan Trust, Series 2022-D, Class D, 7.23% 10/15/20581,11 | 12,789 | 12,558 | |
SOLRR Aircraft Aviation Holding, Ltd., Series 2021-1, Class A, 2.636% 10/15/20461,11 | 2,610 | 2,242 | |
Sound Point CLO, Ltd., Series 2015-1RA, Class AR, (3-month USD CME Term SOFR + 1.342%) 6.65% 4/15/20301,4,11 | 656 | 654 | |
SPRITE, Ltd., Series 2021-1, Class A, 3.75% 11/15/20461,11 | 1,559 | 1,400 | |
Stellar Jay Ireland DAC, Series 2021-1, Class A, 3.967% 10/15/20411,11 | 1,413 | 1,145 | |
Stonepeak Infrastructure Partners, Series 2021-1A, Class AA, 2.301% 2/28/20331,11 | 1,084 | 984 | |
Stonepeak Infrastructure Partners, Series 2021-1A, Class B, 3.821% 2/28/20331,11 | 1,021 | 866 | |
Stratus Static CLO, Ltd., Series 2022-1A, Class B, (3-month USD CME Term SOFR + 2.35%) 7.676% 7/20/20301,4,11 | 11,140 | 11,190 | |
Stratus Static CLO, Ltd., Series 2022-3, Class B, (3-month USD CME Term SOFR + 3.05%) 8.376% 10/20/20311,4,11 | 23,000 | 23,083 | |
SuttonPark Structured Settlements, Series 2021-1, Class A, 1.95% 9/15/20751,11 | 2,661 | 2,438 | |
TAL Advantage V, LLC, Series 2020-1, Class B, 3.29% 9/20/20451,11 | 2,329 | 2,052 | |
Textainer Marine Containers, Ltd., Series 2020-1A, Class B, 4.94% 8/21/20451,11 | 2,382 | 2,231 | |
Textainer Marine Containers, Ltd., Series 2020-2A, Class B, 3.34% 9/20/20451,11 | 345 | 304 | |
Textainer Marine Containers, Ltd., Series 2021-1A, Class B, 2.52% 2/20/20461,11 | 292 | 244 | |
Textainer Marine Containers, Ltd., Series 2021-2A, Class B, 2.82% 4/20/20461,11 | 807 | 674 | |
TIF Funding II, LLC, Series 2020-1A, Class B, 3.82% 8/20/20451,11 | 1,062 | 938 | |
TIF Funding II, LLC, Series 2021-1A, Class B, 2.54% 2/20/20461,11 | 1,738 | 1,424 | |
Triton Container Finance VIII, LLC, Series 2020-1, Class B, 3.74% 9/20/20451,11 | 328 | 286 | |
Triton Container Finance VIII, LLC, Series 2021-1A, Class B, 2.58% 3/20/20461,11 | 2,863 | 2,373 | |
Westlake Automobile Receivables Trust, Series 2022-2A, Class D, 5.48% 9/15/20271,11 | 7,813 | 7,633 | |
Westlake Automobile Receivables Trust, Series 2023-3, Class C, 6.02% 9/15/20281,11 | 11,932 | 11,862 | |
Westlake Automobile Receivables Trust, Series 2023-2, Class D, 7.01% 11/15/20281,11 | 17,928 | 17,848 | |
Westlake Automobile Receivables Trust, Series 2023-3, Class D, 6.47% 3/15/20291,11 | 6,642 | 6,581 | |
1,007,464 |
American Funds Multi-Sector Income Fund — Page 36 of 47
unaudited
Bonds, notes & other debt instruments (continued) Bonds & notes of governments & government agencies outside the U.S. 7.24% | Principal amount (000) | Value (000) | |
Abu Dhabi (Emirate of) 2.50% 9/30/20291 | USD15,000 | $13,113 | |
Abu Dhabi (Emirate of) 3.125% 4/16/2030 | 6,500 | 5,838 | |
Abu Dhabi (Emirate of) 1.70% 3/2/20311 | 12,800 | 10,223 | |
Abu Dhabi (Emirate of) 1.875% 9/15/2031 | 1,500 | 1,197 | |
Abu Dhabi (Emirate of) 3.875% 4/16/2050 | 9,900 | 7,439 | |
Albania (Republic of) 5.90% 6/9/2028 | EUR4,300 | 4,438 | |
Angola (Republic of) 8.25% 5/9/2028 | USD2,500 | 2,171 | |
Angola (Republic of) 8.00% 11/26/2029 | 25,240 | 20,836 | |
Angola (Republic of) 8.75% 4/14/2032 | 3,100 | 2,500 | |
Argentine Republic 1.00% 7/9/2029 | 5,233 | 1,465 | |
Argentine Republic 0.75% 7/9/2030 (1.75% on 7/9/2027)2 | 40,175 | 11,524 | |
Argentine Republic 3.625% 7/9/2035 (4.125% on 7/9/2024)2 | 57,116 | 14,231 | |
Brazil (Federative Republic of) 4.75% 1/14/2050 | 12,300 | 8,540 | |
Chile (Republic of) 3.10% 5/7/2041 | 9,020 | 6,153 | |
Chile (Republic of) 4.34% 3/7/2042 | 1,815 | 1,475 | |
Colombia (Republic of) 4.50% 3/15/2029 | 300 | 261 | |
Colombia (Republic of) 3.00% 1/30/2030 | 5,111 | 3,933 | |
Colombia (Republic of) 3.25% 4/22/2032 | 10,720 | 7,728 | |
Colombia (Republic of) 8.00% 4/20/2033 | 16,970 | 16,786 | |
Colombia (Republic of) 7.50% 2/2/2034 | 10,925 | 10,348 | |
Colombia (Republic of) 7.375% 9/18/2037 | 300 | 278 | |
Colombia (Republic of) 5.625% 2/26/2044 | 902 | 648 | |
Colombia (Republic of) 5.00% 6/15/2045 | 11,144 | 7,341 | |
Colombia (Republic of) 5.20% 5/15/2049 | 200 | 132 | |
Colombia (Republic of) 4.125% 5/15/2051 | 400 | 224 | |
Costa Rica (Republic of) 6.125% 2/19/2031 | 4,228 | 4,093 | |
Costa Rica (Republic of) 6.125% 2/19/20311 | 1,700 | 1,646 | |
Costa Rica (Republic of) 7.00% 4/4/2044 | 1,200 | 1,142 | |
Development Bank of Mongolia, LLC 7.25% 10/23/2023 | 6,210 | 6,210 | |
Dominican Republic 5.50% 1/27/2025 | 1,400 | 1,382 | |
Dominican Republic 6.875% 1/29/2026 | 1,000 | 1,001 | |
Dominican Republic 5.95% 1/25/2027 | 1,650 | 1,599 | |
Dominican Republic 5.50% 2/22/2029 | 2,757 | 2,530 | |
Dominican Republic 4.50% 1/30/2030 | 8,243 | 7,006 | |
Dominican Republic 4.50% 1/30/20301 | 5,789 | 4,920 | |
Dominican Republic 7.05% 2/3/20311 | 1,850 | 1,790 | |
Dominican Republic 6.00% 2/22/2033 | 5,120 | 4,534 | |
Dominican Republic 6.00% 2/22/20331 | 1,285 | 1,138 | |
Dominican Republic 5.30% 1/21/20411 | 412 | 303 | |
Dominican Republic 6.85% 1/27/2045 | 1,100 | 939 | |
Dominican Republic 5.875% 1/30/2060 | 21,900 | 15,753 | |
Dominican Republic 5.875% 1/30/20601 | 1,700 | 1,223 | |
Egypt (Arab Republic of) 7.60% 3/1/2029 | 1,800 | 1,162 | |
Egypt (Arab Republic of) 5.875% 2/16/2031 | 9,000 | 4,986 | |
Egypt (Arab Republic of) 5.875% 2/16/20311 | 4,380 | 2,426 | |
Egypt (Arab Republic of) 7.625% 5/29/20321 | 2,100 | 1,216 | |
Egypt (Arab Republic of) 7.625% 5/29/2032 | 1,500 | 868 | |
Egypt (Arab Republic of) 8.75% 9/30/2051 | 800 | 433 | |
Egypt (Arab Republic of) 8.15% 11/20/2059 | 11,600 | 6,033 | |
Ethiopia (Federal Democratic Republic of) 6.625% 12/11/2024 | 9,000 | 5,849 | |
Export-Import Bank of India 3.25% 1/15/2030 | 14,100 | 12,046 | |
Gabonese Republic 6.95% 6/16/2025 | 7,400 | 6,623 | |
Gabonese Republic 7.00% 11/24/20311 | 6,000 | 4,478 | |
Gabonese Republic 7.00% 11/24/2031 | 2,200 | 1,642 | |
Georgia (Republic of) 2.75% 4/22/20261 | 2,880 | 2,577 |
American Funds Multi-Sector Income Fund — Page 37 of 47
unaudited
Bonds, notes & other debt instruments (continued) Bonds & notes of governments & government agencies outside the U.S. (continued) | Principal amount (000) | Value (000) | |
Georgia (Republic of) 2.75% 4/22/2026 | USD2,667 | $2,386 | |
Ghana (Republic of) 7.75% 4/7/20291,5 | 3,600 | 1,603 | |
Ghana (Republic of) 8.125% 3/26/20325 | 15,400 | 6,824 | |
Ghana (Republic of) 8.125% 3/26/20321,5 | 1,500 | 665 | |
Honduras (Republic of) 6.25% 1/19/2027 | 17,060 | 16,117 | |
Honduras (Republic of) 5.625% 6/24/2030 | 24,048 | 20,610 | |
Honduras (Republic of) 5.625% 6/24/20301 | 6,175 | 5,292 | |
Hungary (Republic of) 6.25% 9/22/20321 | 4,500 | 4,396 | |
Indonesia (Republic of) 6.625% 2/17/2037 | 900 | 954 | |
Indonesia (Republic of) 5.25% 1/17/2042 | 21,910 | 20,548 | |
Indonesia (Republic of) 4.625% 4/15/2043 | 5,800 | 4,995 | |
Indonesia (Republic of) 6.75% 1/15/2044 | 575 | 624 | |
Indonesia (Republic of) 5.125% 1/15/2045 | 1,515 | 1,373 | |
Israel (State of) 4.50% 1/17/2033 | 5,585 | 5,227 | |
Israel (State of) 3.375% 1/15/2050 | 7,300 | 4,866 | |
Jordan (Hashemite Kingdom of) 5.75% 1/31/20271 | 10,100 | 9,647 | |
Jordan (Hashemite Kingdom of) 5.85% 7/7/20301 | 2,100 | 1,871 | |
Kazakhstan (Republic of) 4.875% 10/14/2044 | 3,200 | 2,755 | |
Kenya (Republic of) 6.875% 6/24/20241 | 200 | 186 | |
Kenya (Republic of) 7.25% 2/28/2028 | 13,400 | 10,818 | |
Kenya (Republic of) 7.25% 2/28/20281 | 2,600 | 2,099 | |
Kenya (Republic of) 8.00% 5/22/2032 | 2,000 | 1,560 | |
Kenya (Republic of) 6.30% 1/23/20341 | 2,700 | 1,803 | |
Kenya (Republic of) 6.30% 1/23/2034 | 2,000 | 1,336 | |
Kenya (Republic of) 8.25% 2/28/2048 | 1,200 | 821 | |
MFB Magyar Fejlesztesi Bank Zartkoruen Mukodo Reszvenytarsasag 6.50% 6/29/2028 | 9,000 | 8,934 | |
Mic Capital Management (Rsc) Seven, Ltd. 5.084% 5/22/20531 | 1,070 | 950 | |
Mongolia (State of) 3.50% 7/7/2027 | 472 | 398 | |
Mongolia (State of) 8.65% 1/19/20281 | 590 | 589 | |
Mongolia (State of) 4.45% 7/7/2031 | 3,290 | 2,544 | |
Morocco (Kingdom of) 5.95% 3/8/2028 | 6,100 | 6,030 | |
Morocco (Kingdom of) 5.95% 3/8/20281 | 4,790 | 4,735 | |
Mozambique (Republic of) 9.00% 9/15/2031 | 21,360 | 16,870 | |
Nigeria (Republic of) 8.25% 9/28/20511 | 15,000 | 10,428 | |
Oman (Sultanate of) 6.75% 10/28/2027 | 7,350 | 7,488 | |
Oman (Sultanate of) 5.625% 1/17/2028 | 11,100 | 10,834 | |
Oman (Sultanate of) 6.75% 1/17/2048 | 5,050 | 4,657 | |
Oman (Sultanate of) 7.00% 1/25/2051 | 13,260 | 12,536 | |
Oman (Sultanate of) 7.00% 1/25/20511 | 10,000 | 9,454 | |
Pakistan (Islamic Republic of) 6.875% 12/5/2027 | 1,650 | 849 | |
Panama (Republic of) 7.125% 1/29/2026 | 200 | 204 | |
Panama (Republic of) 3.16% 1/23/2030 | 400 | 337 | |
Panama (Republic of) 2.252% 9/29/2032 | 7,300 | 5,302 | |
Panama (Republic of) 6.875% 1/31/2036 | 6,325 | 6,353 | |
Panama (Republic of) 4.50% 4/16/2050 | 15,000 | 10,253 | |
Panama (Republic of) 4.30% 4/29/2053 | 2,800 | 1,833 | |
Panama (Republic of) 6.853% 3/28/2054 | 9,000 | 8,384 | |
Panama (Republic of) 4.50% 4/1/2056 | 2,000 | 1,322 | |
Panama (Republic of) 3.87% 7/23/2060 | 12,550 | 7,298 | |
Panama (Republic of) 4.50% 1/19/2063 | 14,545 | 9,447 | |
Paraguay (Republic of) 4.70% 3/27/20271 | 400 | 384 | |
Paraguay (Republic of) 4.95% 4/28/2031 | 16,350 | 15,170 | |
Peru (Republic of) 4.125% 8/25/2027 | 300 | 286 | |
Peru (Republic of) 2.783% 1/23/2031 | 1,200 | 986 | |
Peru (Republic of) 3.00% 1/15/2034 | 17,390 | 13,448 |
American Funds Multi-Sector Income Fund — Page 38 of 47
unaudited
Bonds, notes & other debt instruments (continued) Bonds & notes of governments & government agencies outside the U.S. (continued) | Principal amount (000) | Value (000) | |
Peru (Republic of) 6.55% 3/14/2037 | USD9,500 | $9,842 | |
Peru (Republic of) 3.55% 3/10/2051 | 1,200 | 793 | |
Peru (Republic of) 2.78% 12/1/2060 | 4,949 | 2,648 | |
Peru (Republic of) 3.23% 7/28/2121 | 1,400 | 733 | |
PETRONAS Capital, Ltd. 3.50% 4/21/2030 | 9,700 | 8,606 | |
PETRONAS Capital, Ltd. 3.50% 4/21/20301 | 1,300 | 1,153 | |
PETRONAS Capital, Ltd. 4.55% 4/21/20501 | 800 | 653 | |
Philippines (Republic of) 3.00% 2/1/2028 | 8,300 | 7,534 | |
Philippines (Republic of) 1.648% 6/10/2031 | 1,200 | 906 | |
Philippines (Republic of) 3.95% 1/20/2040 | 9,200 | 7,295 | |
Philippines (Republic of) 3.70% 2/2/2042 | 2,500 | 1,879 | |
Philippines (Republic of) 2.95% 5/5/2045 | 12,600 | 8,023 | |
Philippines (Republic of) 3.20% 7/6/2046 | 4,800 | 3,175 | |
Philippines (Republic of) 4.20% 3/29/2047 | 4,000 | 3,118 | |
Poland (Republic of) 4.875% 10/4/2033 | 4,605 | 4,295 | |
Qatar (State of) 3.75% 4/16/20301 | 17,100 | 15,982 | |
Qatar (State of) 4.625% 6/2/2046 | 1,500 | 1,304 | |
Qatar (State of) 5.103% 4/23/2048 | 1,600 | 1,452 | |
Qatar (State of) 4.40% 4/16/20501 | 7,600 | 6,219 | |
Republika Srpska 4.75% 4/27/2026 | EUR835 | 837 | |
Romania 2.00% 1/28/2032 | 7,500 | 5,725 | |
Romania 2.00% 1/28/2032 | 3,300 | 2,519 | |
Romania 2.00% 4/14/2033 | 2,720 | 1,984 | |
Romania 3.50% 4/3/2034 | 30 | 25 | |
Romania 5.125% 6/15/2048 | USD2,900 | 2,272 | |
Romania 5.125% 6/15/20481 | 300 | 235 | |
Russian Federation 5.25% 6/23/20475 | 1,800 | 612 | |
Saudi Arabia (Kingdom of) 4.75% 1/18/20281 | 4,790 | 4,685 | |
Senegal (Republic of) 4.75% 3/13/2028 | EUR4,500 | 4,063 | |
Senegal (Republic of) 4.75% 3/13/2028 | 1,500 | 1,354 | |
Senegal (Republic of) 6.75% 3/13/2048 | USD18,000 | 12,108 | |
South Africa (Republic of) 4.875% 4/14/2026 | 8,200 | 7,833 | |
South Africa (Republic of) 4.30% 10/12/2028 | 25,300 | 21,947 | |
South Africa (Republic of) 5.875% 6/22/2030 | 500 | 443 | |
South Africa (Republic of) 5.875% 4/20/2032 | 10,600 | 9,043 | |
South Africa (Republic of) 5.00% 10/12/2046 | 7,500 | 4,659 | |
South Africa (Republic of) 6.30% 6/22/2048 | 12,200 | 8,781 | |
Sri Lanka (Democratic Socialist Republic of) 5.75% 4/18/20235 | 3,798 | 1,833 | |
Sri Lanka (Democratic Socialist Republic of) 6.125% 6/3/20255 | 2,300 | 1,119 | |
Sri Lanka (Democratic Socialist Republic of) 6.85% 11/3/20255 | 7,600 | 3,677 | |
Sri Lanka (Democratic Socialist Republic of) 6.20% 5/11/20275 | 1,780 | 831 | |
Sri Lanka (Democratic Socialist Republic of) 7.85% 3/14/20295 | 3,271 | 1,536 | |
Sri Lanka (Democratic Socialist Republic of) 7.55% 3/28/20305 | 14,029 | 6,552 | |
Tunisia (Republic of) 5.75% 1/30/2025 | 17,990 | 12,355 | |
Turkey (Republic of) 6.375% 10/14/2025 | 5,700 | 5,557 | |
Turkey (Republic of) 5.125% 6/22/20261 | 4,000 | 3,743 | |
Turkey (Republic of) 7.625% 4/26/2029 | 2,450 | 2,356 | |
Turkey (Republic of) 5.875% 6/26/2031 | 21,050 | 17,730 | |
Turkey (Republic of) 6.50% 9/20/2033 | 2,000 | 1,715 | |
Turkey (Republic of) 6.00% 1/14/2041 | 200 | 148 | |
Ukraine 8.994% 2/1/20265 | 6,377 | 2,033 | |
Ukraine 7.75% 9/1/20285 | 4,500 | 1,314 | |
Ukraine 7.75% 9/1/20295 | 200 | 58 | |
Ukraine 9.75% 11/1/20305 | 200 | 59 | |
Ukraine 6.876% 5/21/20311,5 | 4,800 | 1,281 |
American Funds Multi-Sector Income Fund — Page 39 of 47
unaudited
Bonds, notes & other debt instruments (continued) Bonds & notes of governments & government agencies outside the U.S. (continued) | Principal amount (000) | Value (000) | |
Ukraine 7.375% 9/25/20345 | USD4,500 | $1,205 | |
United Mexican States 3.75% 1/11/2028 | 200 | 186 | |
United Mexican States 4.50% 4/22/2029 | 18,100 | 16,900 | |
United Mexican States 2.659% 5/24/2031 | 649 | 514 | |
United Mexican States 4.75% 4/27/2032 | 9,599 | 8,666 | |
United Mexican States 4.875% 5/19/2033 | 8,386 | 7,531 | |
United Mexican States 6.05% 1/11/2040 | 13,600 | 12,602 | |
United Mexican States 4.75% 3/8/2044 | 200 | 154 | |
United Mexican States 5.00% 4/27/2051 | 1,200 | 926 | |
United Mexican States 6.338% 5/4/2053 | 8,095 | 7,387 | |
United Mexican States 3.75% 4/19/2071 | 4,770 | 2,732 | |
871,484 | |||
U.S. Treasury bonds & notes 1.00% U.S. Treasury 1.00% | |||
U.S. Treasury 4.625% 6/30/2025 | 2,213 | 2,194 | |
U.S. Treasury 4.375% 8/15/2026 | 15,412 | 15,221 | |
U.S. Treasury 3.625% 3/31/2028 | 15 | 14 | |
U.S. Treasury 4.375% 8/31/2028 | 24,687 | 24,443 | |
U.S. Treasury 4.125% 8/31/2030 | 5,321 | 5,164 | |
U.S. Treasury 4.125% 11/15/2032 | 2 | 2 | |
U.S. Treasury 3.875% 8/15/2033 | 4,140 | 3,911 | |
U.S. Treasury 4.25% 5/15/2039 | 1,333 | 1,256 | |
U.S. Treasury 3.875% 5/15/2043 | 13,927 | 12,106 | |
U.S. Treasury 4.00% 11/15/2052 | 2,477 | 2,195 | |
U.S. Treasury 3.625% 5/15/205312 | 64,618 | 53,492 | |
119,998 | |||
Municipals 0.35% California 0.02% | |||
Golden State Tobacco Securitization Corp., Enhanced Tobacco Settlement Asset-Backed Bonds, Series 2021-B, 2.746% 6/1/2034 | 65 | 51 | |
Golden State Tobacco Securitization Corp., Enhanced Tobacco Settlement Asset-Backed Bonds, Series 2021-A-1, 3.487% 6/1/2036 | 1,490 | 1,131 | |
Golden State Tobacco Securitization Corp., Enhanced Tobacco Settlement Asset-Backed Bonds, Series 2021-A-1, 3.714% 6/1/2041 | 2,235 | 1,572 | |
Regents of the University of California, General Rev. Bonds, Series 2020-BG, 1.614% 5/15/2030 | 35 | 28 | |
2,782 | |||
Florida 0.00% | |||
County of Broward, Airport System Rev. Ref. Bonds, Series 2019-C, 3.477% 10/1/2043 | 75 | 58 | |
Illinois 0.03% | |||
City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2018-A, Assured Guaranty Municipal insured, 5.00% 12/1/2034 | 150 | 150 | |
City of Chicago, Board of Education, Unlimited Tax G.O. Rev. Ref. Bonds (Dedicated Rev.), Series 2022-A, 4.00% 12/1/2047 | 4,020 | 3,132 | |
G.O. Bonds, Pension Funding, Series 2003, 5.10% 6/1/2033 | 90 | 85 | |
Metropolitan Pier and Exposition Auth., McCormick Place Expansion Project Rev. Ref. Bonds, Capital Appreciation Bonds, Series 2017-A, Assured Guaranty Municipal insured, 0% 12/15/2056 | 1,810 | 308 | |
3,675 | |||
Kansas 0.01% | |||
City of Manhattan, Health Care Facs. Rev. Bonds (Meadowlark Hills), Series 2021-B, 2.44% 6/1/2025 | 1,590 | 1,536 |
American Funds Multi-Sector Income Fund — Page 40 of 47
unaudited
Bonds, notes & other debt instruments (continued) Municipals (continued) Ohio 0.05% | Principal amount (000) | Value (000) | |
Cleveland-Cuyahoga Port Auth., Federal Lease Rev. Bonds (VA Cleveland Health Care Center Project), Series 2021, 4.425% 5/1/2031 | USD6,305 | $5,244 | |
Higher Educational Facs. Commission, Healthcare Fac. Rev. Bonds (Judson Obligated Group 2020 Project), Series 2020-A, 3.75% 12/1/2023 | 310 | 308 | |
5,552 | |||
Puerto Rico 0.12% | |||
G.O. Restructured Bonds, Series 2022-A-1, 5.375% 7/1/2025 | 977 | 988 | |
G.O. Restructured Bonds, Series 2022-A-1, 5.625% 7/1/2027 | 968 | 995 | |
G.O. Restructured Bonds, Series 2022-A-1, 5.625% 7/1/2029 | 953 | 986 | |
G.O. Restructured Bonds, Series 2022-A-1, 5.75% 7/1/2031 | 925 | 968 | |
G.O. Restructured Bonds, Series 2022-A-1, 4.00% 7/1/2033 | 877 | 788 | |
G.O. Restructured Bonds, Series 2022-A-1, 4.00% 7/1/2035 | 789 | 687 | |
G.O. Restructured Bonds, Series 2022-A-1, 4.00% 7/1/2037 | 677 | 570 | |
G.O. Restructured Bonds, Series 2022-A-1, 4.00% 7/1/2041 | 920 | 742 | |
G.O. Restructured Bonds, Series 2022-A-1, 4.00% 7/1/2046 | 957 | 741 | |
G.O. Restructured Bonds, Capital Appreciation Bonds, Series 2022-A-1, 0% 7/1/2024 | 143 | 138 | |
G.O. Restructured Bonds, Capital Appreciation Bonds, Series 2022-A-1, 0% 7/1/2033 | 1,129 | 667 | |
G.O. Taxable Bonds, Capital Appreciation Bonds, Series 2022, 0% 11/1/20434 | 4,143 | 2,154 | |
Sales Tax Fncg. Corp., Sales Tax Rev. Restructured Bonds, Capital Appreciation Bonds, Series 2018-A-1, 0% 7/1/2046 | 14,745 | 3,820 | |
14,244 | |||
Texas 0.10% | |||
Brazoria County Industrial Dev. Corp., Solid Waste Disposal Facs. Rev. Bonds (Aleon Renewable Metals, LLC Project), Series 2023, AMT, 12.00% 6/1/20431 | 12,500 | 12,165 | |
Washington 0.02% | |||
Econ. Dev. Fin. Auth., Environmental Facs. Rev. Bonds (North Pacific Paper Co. Recycling Project), Series 2020-B, 9.00% 12/1/20361 | 2,000 | 1,981 | |
Total municipals | 41,993 | ||
Total bonds, notes & other debt instruments (cost: $12,320,522,000) | 11,648,974 | ||
Convertible bonds & notes 0.04% Energy 0.03% | |||
Abu Dhabi National Oil Co., convertible notes, 0.70% 6/4/2024 | 3,800 | 3,668 | |
Communication services 0.01% | |||
DISH Network Corp., convertible notes, 3.375% 8/15/2026 | 1,078 | 653 | |
Total convertible bonds & notes (cost: $4,223,000) | 4,321 | ||
Common stocks 0.38% Utilities 0.16% | Shares | ||
Talen Energy Corp.13 | 372,237 | 19,691 |
American Funds Multi-Sector Income Fund — Page 41 of 47
unaudited
Common stocks (continued) Energy 0.15% | Shares | Value (000) | |
FORESEA Holding SA, Class C, nonvoting shares13 | 322,019 | $8,340 | |
FORESEA Holding SA, Class B13 | 35,779 | 927 | |
Chesapeake Energy Corp. | 75,595 | 6,519 | |
Denbury, Inc.13 | 15,118 | 1,482 | |
California Resources Corp. | 633 | 35 | |
Mesquite Energy, Inc.7,13 | 126 | 5 | |
17,308 | |||
Information technology 0.07% | |||
Diebold Nixdorf, Inc.13 | 432,997 | 8,201 | |
Consumer discretionary 0.00% | |||
NMG Parent, LLC13 | 309 | 34 | |
MYT Holding Co., Class B13 | 8,984 | 7 | |
41 | |||
Communication services 0.00% | |||
Intelsat SA13 | 1 | — 9 | |
Total common stocks (cost: $50,413,000) | 45,241 | ||
Preferred securities 0.00% Industrials 0.00% | |||
ACR III LSC Holdings, LLC, Series B, preferred shares1,7,13 | 5 | 4 | |
Total preferred securities (cost: $5,000) | 4 | ||
Rights & warrants 0.00% Consumer discretionary 0.00% | |||
NMG Parent, LLC, warrants, expire 9/24/202713 | 374 | 4 | |
Total rights & warrants (cost: $2,000) | 4 | ||
Short-term securities 2.12% Money market investments 2.12% | |||
Capital Group Central Cash Fund 5.44%14,15 | 2,553,764 | 255,351 | |
Total short-term securities (cost: $255,383,000) | 255,351 | ||
Total investment securities 99.35% (cost: $12,630,548,000) | 11,953,895 | ||
Other assets less liabilities 0.65% | 78,345 | ||
Net assets 100.00% | $12,032,240 |
American Funds Multi-Sector Income Fund — Page 42 of 47
unaudited
Futures contracts
Contracts | Type | Number of contracts | Expiration date | Notional amount (000) | Value and unrealized (depreciation) appreciation at 9/30/2023 (000) |
2 Year U.S. Treasury Note Futures | Long | 9,709 | 1/4/2024 | USD1,968,121 | $(6,976 ) |
5 Year U.S. Treasury Note Futures | Long | 4,931 | 1/4/2024 | 519,527 | (4,110 ) |
10 Year Euro-Bund Futures | Short | 34 | 12/11/2023 | (4,624 ) | 132 |
10 Year U.S. Treasury Note Futures | Short | 87 | 12/29/2023 | (9,401 ) | 148 |
10 Year Ultra U.S. Treasury Note Futures | Short | 8,281 | 12/29/2023 | (923,849 ) | 27,577 |
20 Year U.S. Treasury Bond Futures | Long | 2,942 | 12/29/2023 | 334,744 | (18,074 ) |
30 Year Ultra U.S. Treasury Bond Futures | Short | 1,165 | 12/29/2023 | (138,271 ) | 9,595 |
$8,292 |
Forward currency contracts
Contract amount | Counterparty | Settlement date | Unrealized appreciation at 9/30/2023 (000) | |||
Currency purchased (000) | Currency sold (000) | |||||
USD | 20,101 | EUR | 18,853 | Morgan Stanley | 10/25/2023 | $147 |
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 9/30/2023 (000) | Upfront premium received (000) | Unrealized appreciation at 9/30/2023 (000) |
CDX.NA.IG.41 | 1.00% | Quarterly | 12/20/2028 | USD372,804 | $(4,428 ) | $(4,840 ) | $412 |
Centrally cleared credit default swaps on credit indices — sell protection
Financing rate received | Payment frequency | Reference index | Expiration date | Notional amount16 (000) | Value at 9/30/202317 (000) | Upfront premium paid (000) | Unrealized appreciation at 9/30/2023 (000) |
5.00% | Quarterly | CDX.NA.HY.40 | 6/20/2028 | USD200,000 | $3,013 | $2,228 | $785 |
Investments in affiliates15
Value of affiliate at 1/1/2023 (000) | Additions (000) | Reductions (000) | Net realized gain (000) | Net unrealized depreciation (000) | Value of affiliate at 9/30/2023 (000) | Dividend income (000) | |
Short-term securities 2.12% | |||||||
Money market investments 2.12% | |||||||
Capital Group Central Cash Fund 5.44%14 | $480,995 | $3,239,791 | $3,465,451 | $147 | $(131 ) | $255,351 | $14,594 |
American Funds Multi-Sector Income Fund — Page 43 of 47
unaudited
Restricted securities8
Acquisition date(s) | Cost (000) | Value (000) | Percent of net assets | |
Mission Lane Credit Card Master Trust, Series 2022-B, Class A1, 8.25% 1/15/20287,11 | 12/6/2022 | $20,013 | $19,983 | .16 % |
Mission Lane Credit Card Master Trust, Series 2022-B, Class B, 10.42% 1/15/20287,11 | 12/6/2022 - 6/23/2023 | 11,960 | 12,085 | .10 |
Mission Lane Credit Card Master Trust, Series 2022-B, Class C, 12.09% 1/15/20287,11 | 12/6/2022 | 10,745 | 10,911 | .09 |
Mission Lane Credit Card Master Trust, Series 2022-B, Class D, 14.45% 1/15/20287,11 | 12/6/2022 | 3,500 | 3,544 | .03 |
Mission Lane Credit Card Master Trust, Series 2022-B, Class A2, 8.73% 1/15/20287,11 | 12/6/2022 | 3,200 | 3,195 | .03 |
Finastra USA, Inc., Term Loan B, (3-month USD CME Term SOFR + 7.25%) 12.876% 9/13/20293,4 | 9/13/2023 | 16,182 | 16,510 | .14 |
Finastra USA, Inc., Term Loan, (3-month USD CME Term SOFR + 7.25%) 12.876% 9/13/20293,4 | 9/13/2023 | 328 | 363 | .00 18 |
Wolfspeed, Inc. 9.875% 6/23/2030 (10.875% on 6/23/2026)2,7 | 6/23/2023 | 10,262 | 9,774 | .08 |
Modec Finance BV 7.84% 7/15/20267 | 7/28/2023 | 9,000 | 8,923 | .08 |
NBM US Holdings, Inc. 6.625% 8/6/2029 | 9/22/2020 | 523 | 456 | .00 18 |
Total | $85,713 | $85,744 | .71 % |
1 | Acquired in a transaction exempt from registration under Rule 144A or, for commercial paper, Section 4(a)(2) 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 $5,589,215,000, which represented 46.45% of the net assets of the fund. |
2 | Step bond; coupon rate may change at a later date. |
3 | Loan participations and assignments; may be subject to legal or contractual restrictions on resale. The total value of all such loans was $165,111,000, which represented 1.37% of the net assets of the fund. |
4 | 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. |
5 | Scheduled interest and/or principal payment was not received. |
6 | 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. |
7 | Value determined using significant unobservable inputs. |
8 | Restricted security, other than Rule 144A securities or commercial paper issued pursuant to Section 4(a)(2) of the Securities Act of 1933. The total value of all such restricted securities was $85,744,000, which represented .71% of the net assets of the fund. |
9 | Amount less than one thousand. |
10 | Securities referencing LIBOR are expected to transition to an alternative reference rate by the security’s next scheduled coupon reset date. |
11 | Principal payments may be made periodically. Therefore, the effective maturity date may be earlier than the stated maturity date. |
12 | All or a portion of this security was pledged as collateral. The total value of pledged collateral was $8,421,000, which represented .07% of the net assets of the fund. |
13 | Security did not produce income during the last 12 months. |
14 | Rate represents the seven-day yield at 9/30/2023. |
15 | Part of the same “group of investment companies“ as the fund as defined under the Investment Company Act of 1940, as amended. |
16 | The maximum potential amount the fund may pay as a protection seller should a credit event occur. |
17 | The prices and resulting values for credit default swap indices serve as an indicator of the current status of the payment/performance risk. As the value of a sell protection credit default swap increases or decreases, when compared to the notional amount of the swap, the payment/performance risk may decrease or increase, respectively. |
18 | Amount less than .01%. |
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 44 of 47
unaudited
Equity securities, including depositary receipts, 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 evaluated prices obtained from third-party 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 |
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 $5,455,557,000. Forward currency contracts are valued based on the spot and forward exchange rates obtained from a third-party pricing vendor. The average month-end notional amount of open forward currency contracts while held was $15,232,000. Swaps are generally valued using evaluated prices obtained from third-party pricing vendors who calculate these values based on market inputs that may include the yields of the indices referenced in the instrument and the relevant curve, dealer quotes, default probabilities and recovery rates, other reference data, and terms of the contract. The average month-end notional amounts of credit default swaps while held were $560,927,000.
American Funds Multi-Sector Income Fund — Page 45 of 47
unaudited
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 the fund’s investment adviser and approved by the 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, dealer or broker quotes, 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 of investments that are not actively trading involve judgment and may differ materially from valuations that would have been used had greater market activity occurred.
Processes and structure — The fund’s board of trustees has designated 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 “Committee”) to administer, implement and oversee the fair valuation process and to make fair value decisions. The Committee regularly reviews its own fair value decisions, as well as decisions made under its standing instructions to the investment adviser’s valuation team. The Committee reviews changes in fair value measurements from period to period, pricing vendor information and market data, and may, as deemed appropriate, update the fair valuation guidelines to better reflect the results of back testing and address new or evolving issues. 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. The Committee reports 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.
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 September 30, 2023 (dollars in thousands):
Investment securities | ||||
Level 1 | Level 2 | Level 3 | Total | |
Assets: | ||||
Bonds, notes & other debt instruments: | ||||
Corporate bonds, notes & loans | $— | $8,340,105 | $18,697 | $8,358,802 |
Mortgage-backed obligations | — | 1,221,898 | 27,335 | 1,249,233 |
Asset-backed obligations | — | 946,919 | 60,545 | 1,007,464 |
Bonds & notes of governments & government agencies outside the U.S. | — | 871,484 | — | 871,484 |
U.S. Treasury bonds & notes | — | 119,998 | — | 119,998 |
Municipals | — | 41,993 | — | 41,993 |
Convertible bonds & notes | — | 4,321 | — | 4,321 |
Common stocks | 27,727 | 17,509 | 5 | 45,241 |
Preferred securities | — | — | 4 | 4 |
Rights & warrants | — | 4 | — | 4 |
Short-term securities | 255,351 | — | — | 255,351 |
Total | $283,078 | $11,564,231 | $106,586 | $11,953,895 |
American Funds Multi-Sector Income Fund — Page 46 of 47
unaudited
Other investments* | ||||
Level 1 | Level 2 | Level 3 | Total | |
Assets: | ||||
Unrealized appreciation on futures contracts | $37,452 | $— | $— | $37,452 |
Unrealized appreciation on open forward currency contracts | — | 147 | — | 147 |
Unrealized appreciation on centrally cleared credit default swaps | — | 412 | — | 412 |
Unrealized appreciation on centrally cleared credit default swaps | — | 785 | — | 785 |
Liabilities: | ||||
Unrealized depreciation on futures contracts | (29,160 ) | — | — | (29,160 ) |
Total | $8,292 | $1,344 | $— | $9,636 |
*
Futures contracts, forward currency contracts and credit default swaps are not included in the fund’s investment portfolio.
Key to abbreviations |
AMT = Alternative Minimum Tax |
Auth. = Authority |
CLO = Collateralized Loan Obligations |
CME = CME Group |
CMO = Collateralized Mortgage Obligations |
DAC = Designated Activity Company |
Dev. = Development |
Econ. = Economic |
EUR = Euros |
Fac. = Facility |
Facs. = Facilities |
Fin. = Finance |
Fncg. = Financing |
G.O. = General Obligation |
LIBOR = London Interbank Offered Rate |
PIK = Payment In Kind |
Ref. = Refunding |
REIT = Real Estate Investment Trust |
Rev. = Revenue |
SOFR = Secured Overnight Financing Rate |
USD = U.S. dollars |
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.
© 2023 Capital Group. All rights reserved.
MFGEFP3-126-1123O-S96399
American Funds Multi-Sector Income Fund — Page 47 of 47