American Funds The Growth Fund of America Class R-6 (RGAGX)
Filed: 23 Jan 25, 4:13pm
The Growth Fund of America®
Investment portfolio
November 30, 2024unaudited
Common stocks 96.00% Information technology 25.08% | Shares | Value (000) | |
Microsoft Corp. | 35,195,458 | $14,903,869 | |
NVIDIA Corp. | 86,020,825 | 11,892,379 | |
Broadcom, Inc. | 53,988,987 | 8,750,535 | |
Apple, Inc. | 28,645,647 | 6,798,471 | |
Taiwan Semiconductor Manufacturing Co., Ltd. | 113,914,468 | 3,498,159 | |
Taiwan Semiconductor Manufacturing Co., Ltd. (ADR) | 3,962,705 | 731,753 | |
Salesforce, Inc. | 11,744,919 | 3,875,706 | |
Shopify, Inc., Class A, subordinate voting shares1 | 30,279,140 | 3,500,269 | |
MicroStrategy, Inc., Class A1 | 6,776,528 | 2,625,701 | |
Cloudflare, Inc., Class A1 | 19,520,442 | 1,948,726 | |
ASML Holding NV | 1,850,702 | 1,273,751 | |
ASML Holding NV (ADR) | 932,444 | 640,225 | |
Synopsys, Inc.1 | 2,971,374 | 1,659,483 | |
Motorola Solutions, Inc. | 3,254,111 | 1,626,079 | |
Constellation Software, Inc. | 342,248 | 1,157,202 | |
Applied Materials, Inc. | 6,135,618 | 1,071,954 | |
SAP SE | 3,995,662 | 951,027 | |
ServiceNow, Inc.1 | 807,935 | 847,879 | |
Micron Technology, Inc. | 8,016,484 | 785,215 | |
Atlassian Corp., Class A1 | 2,732,388 | 720,203 | |
Texas Instruments, Inc. | 3,439,536 | 691,450 | |
Intel Corp. | 21,662,710 | 520,988 | |
Dell Technologies, Inc., Class C | 4,060,926 | 518,133 | |
Unity Software, Inc.1 | 19,356,434 | 466,684 | |
Arista Networks, Inc.1 | 1,020,083 | 413,970 | |
Oracle Corp. | 2,145,128 | 396,505 | |
Adobe, Inc.1 | 691,632 | 356,834 | |
AppLovin Corp., Class A1 | 1,041,000 | 350,557 | |
Palo Alto Networks, Inc.1 | 900,260 | 349,139 | |
DocuSign, Inc.1 | 3,215,944 | 256,278 | |
Lam Research Corp. | 3,280,578 | 242,369 | |
KLA Corp. | 358,082 | 231,690 | |
Intuit, Inc. | 356,803 | 228,971 | |
Aurora Innovation, Inc., Class A1 | 34,242,700 | 221,550 | |
Accenture PLC, Class A | 564,711 | 204,634 | |
Roper Technologies, Inc. | 343,482 | 194,562 | |
QUALCOMM, Inc. | 1,168,461 | 185,236 | |
Advanced Micro Devices, Inc.1 | 1,350,000 | 185,186 | |
NICE, Ltd. (ADR)1 | 942,385 | 171,929 | |
Fair Isaac Corp.1 | 67,175 | 159,543 | |
Flex, Ltd.1 | 3,160,876 | 123,179 | |
MongoDB, Inc., Class A1 | 368,514 | 118,842 | |
RingCentral, Inc., Class A1 | 2,998,917 | 112,849 | |
Datadog, Inc., Class A1 | 716,174 | 109,396 | |
First Solar, Inc.1 | 540,682 | 107,742 | |
Palantir Technologies Inc., Class A1 | 1,544,000 | 103,571 | |
The Growth Fund of America — Page 1 of 12
unaudited
Common stocks (continued) Information technology (continued) | Shares | Value (000) | |
ASM International NV | 185,049 | $100,118 | |
SK hynix, Inc. | 706,238 | 81,805 | |
ANSYS, Inc.1 | 229,343 | 80,522 | |
Monolithic Power Systems, Inc. | 141,760 | 80,469 | |
MKS Instruments, Inc. | 485,952 | 55,224 | |
Fabrinet, non-registered shares1 | 209,046 | 49,038 | |
Seagate Technology Holdings PLC | 400,011 | 40,533 | |
Stripe, Inc., Class B1,2,3 | 1,153,942 | 31,745 | |
Coherent Corp.1 | 231,806 | 23,218 | |
76,823,045 | |||
Consumer discretionary 16.21% | |||
Amazon.com, Inc.1 | 58,404,797 | 12,141,773 | |
Tesla, Inc.1 | 22,182,375 | 7,656,469 | |
Royal Caribbean Cruises, Ltd.4 | 23,586,811 | 5,756,597 | |
DoorDash, Inc., Class A1 | 11,849,875 | 2,138,665 | |
Flutter Entertainment PLC1 | 7,730,456 | 2,136,080 | |
MercadoLibre, Inc.1 | 729,727 | 1,448,632 | |
Chipotle Mexican Grill, Inc.1 | 22,749,790 | 1,399,567 | |
Booking Holdings, Inc. | 250,811 | 1,304,714 | |
Home Depot, Inc. | 2,787,900 | 1,196,372 | |
Las Vegas Sands Corp. | 21,370,846 | 1,133,937 | |
D.R. Horton, Inc. | 6,716,507 | 1,133,612 | |
Floor & Decor Holdings, Inc., Class A1,4 | 9,522,151 | 1,068,481 | |
NVR, Inc.1 | 105,545 | 974,769 | |
Airbnb, Inc., Class A1 | 7,113,102 | 968,164 | |
Burlington Stores, Inc.1 | 2,315,204 | 652,610 | |
General Motors Co. | 11,154,593 | 620,084 | |
Hilton Worldwide Holdings, Inc. | 2,445,189 | 619,709 | |
Hermès International | 279,536 | 610,756 | |
Starbucks Corp. | 5,797,652 | 594,027 | |
Tractor Supply Co. | 1,993,321 | 565,445 | |
Coupang, Inc., Class A1 | 21,473,603 | 544,571 | |
Caesars Entertainment, Inc.1,4 | 12,859,626 | 494,967 | |
LVMH Moët Hennessy-Louis Vuitton SE | 792,055 | 494,188 | |
NIKE, Inc., Class B | 4,950,990 | 389,989 | |
Lennar Corp., Class A | 2,152,408 | 375,358 | |
Wayfair, Inc., Class A1 | 7,666,564 | 354,502 | |
Norwegian Cruise Line Holdings, Ltd.1 | 10,439,858 | 280,728 | |
Polaris, Inc.4 | 3,844,398 | 265,263 | |
MGM Resorts International1 | 6,455,000 | 247,485 | |
lululemon athletica, Inc.1 | 765,006 | 245,307 | |
TJX Companies, Inc. (The) | 1,880,530 | 236,364 | |
Toll Brothers, Inc. | 1,299,194 | 214,588 | |
Ulta Beauty, Inc.1 | 500,000 | 193,320 | |
Amadeus IT Group SA, Class A, non-registered shares | 2,608,871 | 183,189 | |
DraftKings, Inc., Class A1 | 3,443,526 | 150,310 | |
Service Corp. International | 1,624,261 | 143,893 | |
Ferrari NV (EUR denominated) | 297,675 | 129,939 | |
Aramark | 2,912,703 | 118,518 | |
Evolution AB | 1,325,281 | 115,976 | |
Marriott International, Inc., Class A | 304,782 | 88,109 | |
TopBuild Corp.1 | 220,636 | 86,189 | |
McDonald’s Corp. | 258,146 | 76,414 | |
The Growth Fund of America — Page 2 of 12
unaudited
Common stocks (continued) Consumer discretionary (continued) | Shares | Value (000) | |
YUM! Brands, Inc. | 476,647 | $66,225 | |
Viking Holdings, Ltd.1 | 714,549 | 33,191 | |
49,649,046 | |||
Communication services 13.16% | |||
Meta Platforms, Inc., Class A | 28,681,492 | 16,472,355 | |
Alphabet, Inc., Class C | 36,789,462 | 6,272,236 | |
Alphabet, Inc., Class A | 36,511,134 | 6,168,556 | |
Netflix, Inc.1 | 7,896,533 | 7,002,724 | |
Charter Communications, Inc., Class A1 | 3,469,450 | 1,377,250 | |
Tencent Holdings, Ltd. | 14,316,500 | 736,215 | |
Snap, Inc., Class A, nonvoting shares1 | 58,899,824 | 695,607 | |
Take-Two Interactive Software, Inc.1 | 3,211,569 | 604,995 | |
Verizon Communications, Inc. | 9,771,108 | 433,251 | |
T-Mobile US, Inc. | 965,988 | 238,541 | |
Comcast Corp., Class A | 1,920,177 | 82,933 | |
Frontier Communications Parent, Inc.1 | 1,944,590 | 67,691 | |
Live Nation Entertainment, Inc.1 | 479,505 | 66,292 | |
Spotify Technology SA1 | 138,264 | 65,946 | |
Epic Games, Inc.1,2,3 | 84,249 | 50,549 | |
40,335,141 | |||
Industrials 12.62% | |||
Uber Technologies, Inc.1 | 61,789,450 | 4,446,369 | |
Boeing Co. (The)1 | 23,251,968 | 3,614,286 | |
TransDigm Group, Inc. | 2,711,650 | 3,397,616 | |
General Electric Co. | 18,146,942 | 3,305,647 | |
Caterpillar, Inc. | 5,788,015 | 2,350,571 | |
Carrier Global Corp. | 28,392,997 | 2,196,766 | |
GE Vernova, Inc.1 | 5,497,385 | 1,836,786 | |
Ingersoll-Rand, Inc. | 15,143,539 | 1,577,503 | |
United Airlines Holdings, Inc.1 | 15,028,152 | 1,455,176 | |
United Rentals, Inc. | 1,270,585 | 1,100,327 | |
XPO, Inc.1,4 | 6,906,173 | 1,052,570 | |
Axon Enterprise, Inc.1 | 1,343,759 | 869,358 | |
Republic Services, Inc. | 3,970,237 | 866,703 | |
Safran SA | 3,657,775 | 853,439 | |
Delta Air Lines, Inc. | 13,325,778 | 850,451 | |
Airbus SE, non-registered shares | 5,340,993 | 835,458 | |
Eaton Corp. PLC | 2,035,508 | 764,170 | |
Recruit Holdings Co., Ltd. | 9,427,700 | 656,397 | |
Union Pacific Corp. | 2,655,860 | 649,783 | |
HEICO Corp. | 1,783,237 | 487,483 | |
HEICO Corp., Class A | 303,660 | 64,112 | |
Dayforce, Inc.1 | 6,364,176 | 509,070 | |
Ryanair Holdings PLC (ADR) | 10,869,727 | 478,703 | |
Ryanair Holdings PLC | 315,525 | 6,216 | |
Old Dominion Freight Line, Inc. | 1,833,856 | 412,874 | |
FTAI Aviation, Ltd. | 2,437,145 | 411,439 | |
Southwest Airlines Co. | 12,468,249 | 403,473 | |
APi Group Corp.1 | 8,702,223 | 328,770 | |
Equifax, Inc. | 1,178,599 | 308,274 | |
Automatic Data Processing, Inc. | 950,000 | 291,584 | |
Waste Management, Inc. | 1,146,140 | 261,572 | |
Quanta Services, Inc. | 744,204 | 256,393 | |
The Growth Fund of America — Page 3 of 12
unaudited
Common stocks (continued) Industrials (continued) | Shares | Value (000) | |
Lockheed Martin Corp. | 465,682 | $246,537 | |
Copart, Inc.1 | 3,807,889 | 241,382 | |
Saia, Inc.1 | 401,500 | 228,486 | |
Generac Holdings, Inc.1 | 942,790 | 177,433 | |
Bombardier, Inc., Class B1 | 2,370,752 | 163,852 | |
FedEx Corp. | 470,123 | 142,292 | |
Paylocity Holding Corp.1 | 655,674 | 136,079 | |
RTX Corp. | 1,046,024 | 127,437 | |
WillScot Holdings Corp., Class A1 | 3,032,491 | 115,962 | |
GFL Environmental, Inc., subordinate voting shares | 2,177,944 | 102,581 | |
Comfort Systems USA, Inc. | 71,735 | 35,385 | |
Tetra Tech, Inc. | 807,550 | 33,521 | |
Canadian Pacific Kansas City, Ltd. | 222,244 | 17,022 | |
Einride AB1,2,3 | 267,404 | 2,447 | |
38,669,755 | |||
Health care 12.44% | |||
Eli Lilly and Co. | 8,015,476 | 6,375,109 | |
UnitedHealth Group, Inc. | 8,521,858 | 5,200,038 | |
Vertex Pharmaceuticals, Inc.1 | 9,151,696 | 4,284,183 | |
Alnylam Pharmaceuticals, Inc.1,4 | 10,568,306 | 2,674,521 | |
Intuitive Surgical, Inc.1 | 4,765,008 | 2,582,634 | |
Thermo Fisher Scientific, Inc. | 3,533,712 | 1,871,560 | |
Boston Scientific Corp.1 | 16,990,239 | 1,540,335 | |
Regeneron Pharmaceuticals, Inc.1 | 1,859,640 | 1,395,139 | |
Novo Nordisk AS, Class B | 10,844,286 | 1,158,919 | |
GE HealthCare Technologies, Inc. | 13,613,351 | 1,132,903 | |
Illumina, Inc.1 | 6,456,416 | 930,692 | |
Abbott Laboratories | 6,722,769 | 798,463 | |
Stryker Corp. | 2,001,576 | 784,918 | |
HCA Healthcare, Inc. | 2,222,381 | 727,208 | |
Amgen, Inc. | 2,293,517 | 648,767 | |
Exact Sciences Corp.1,4 | 9,650,591 | 599,109 | |
Danaher Corp. | 2,107,433 | 505,131 | |
BioMarin Pharmaceutical, Inc.1 | 6,405,939 | 422,984 | |
Sarepta Therapeutics, Inc.1 | 3,155,214 | 420,716 | |
Zoetis, Inc., Class A | 2,286,789 | 400,760 | |
Molina Healthcare, Inc.1 | 1,238,739 | 369,020 | |
Insmed, Inc.1 | 4,475,391 | 336,370 | |
Merck & Co., Inc. | 2,389,435 | 242,862 | |
EssilorLuxottica SA | 995,000 | 241,960 | |
Centene Corp.1 | 4,004,624 | 240,277 | |
Veeva Systems, Inc., Class A1 | 876,187 | 199,639 | |
AbbVie, Inc. | 1,056,908 | 193,340 | |
Insulet Corp.1 | 658,183 | 175,590 | |
Align Technology, Inc.1 | 739,549 | 172,145 | |
Mettler-Toledo International, Inc.1 | 124,307 | 155,533 | |
Johnson & Johnson | 991,920 | 153,758 | |
Ascendis Pharma AS (ADR)1 | 1,063,909 | 144,777 | |
Masimo Corp.1 | 822,322 | 141,883 | |
Vaxcyte, Inc.1 | 1,302,372 | 122,866 | |
CVS Health Corp. | 1,669,728 | 99,933 | |
DexCom, Inc.1 | 1,231,856 | 96,072 | |
IQVIA Holdings, Inc.1 | 474,437 | 95,286 | |
Daiichi Sankyo Co., Ltd. | 2,839,000 | 90,336 | |
The Growth Fund of America — Page 4 of 12
unaudited
Common stocks (continued) Health care (continued) | Shares | Value (000) | |
Ionis Pharmaceuticals, Inc.1 | 2,405,080 | $85,934 | |
Verily Life Sciences, LLC1,2,3 | 673,374 | 70,327 | |
NovoCure, Ltd.1 | 3,302,638 | 66,185 | |
Guardant Health, Inc.1 | 1,559,981 | 55,551 | |
CRISPR Therapeutics AG1,5 | 959,033 | 49,074 | |
QIAGEN NV1 | 1,015,017 | 44,082 | |
Biohaven, Ltd.1 | 271,571 | 12,495 | |
agilon health, Inc.1 | 1,639,529 | 3,427 | |
38,112,811 | |||
Financials 9.90% | |||
Mastercard, Inc., Class A | 7,457,701 | 3,974,507 | |
KKR & Co., Inc. | 19,220,550 | 3,130,451 | |
Visa, Inc., Class A | 8,534,876 | 2,689,169 | |
Progressive Corp. | 7,469,184 | 2,008,314 | |
Affirm Holdings, Inc., Class A1 | 23,113,158 | 1,618,152 | |
Blackstone, Inc. | 6,398,927 | 1,222,771 | |
BlackRock, Inc. | 1,135,877 | 1,161,775 | |
Apollo Asset Management, Inc. | 6,584,242 | 1,152,440 | |
Wells Fargo & Co. | 14,141,932 | 1,077,191 | |
Toast, Inc., Class A1 | 22,903,250 | 997,207 | |
Bank of America Corp. | 20,196,721 | 959,546 | |
PayPal Holdings, Inc.1 | 9,493,865 | 823,783 | |
Goldman Sachs Group, Inc. | 1,171,923 | 713,197 | |
Brookfield Corp., Class A | 10,062,649 | 617,746 | |
Discover Financial Services | 3,296,863 | 601,447 | |
Blue Owl Capital, Inc., Class A | 24,563,302 | 582,887 | |
JPMorgan Chase & Co. | 2,087,518 | 521,295 | |
Ares Management Corp., Class A | 2,922,944 | 516,572 | |
Morgan Stanley | 3,697,932 | 486,685 | |
East West Bancorp, Inc. | 4,208,670 | 461,607 | |
Ryan Specialty Holdings, Inc., Class A | 5,627,421 | 424,308 | |
Marsh & McLennan Companies, Inc. | 1,648,636 | 384,511 | |
Truist Financial Corp. | 7,518,797 | 358,496 | |
First Citizens BancShares, Inc., Class A | 141,467 | 324,667 | |
AIA Group, Ltd. | 39,893,486 | 300,089 | |
UBS Group AG | 9,277,618 | 299,497 | |
American Express Co. | 919,028 | 280,009 | |
PNC Financial Services Group, Inc. | 1,250,826 | 268,577 | |
Berkshire Hathaway, Inc., Class B1 | 497,862 | 240,477 | |
Block, Inc., Class A1 | 2,679,961 | 237,311 | |
Citigroup, Inc. | 3,214,520 | 227,813 | |
Fannie Mae1 | 66,343,412 | 207,655 | |
Fiserv, Inc.1 | 894,500 | 197,649 | |
Nu Holdings, Ltd., Class A1 | 12,901,585 | 161,657 | |
Intercontinental Exchange, Inc. | 971,217 | 156,327 | |
Tradeweb Markets, Inc., Class A | 1,025,594 | 138,968 | |
MSCI, Inc. | 202,358 | 123,364 | |
T. Rowe Price Group, Inc. | 908,955 | 112,565 | |
Arch Capital Group, Ltd. | 1,086,485 | 109,431 | |
American International Group, Inc. | 1,394,158 | 107,183 | |
Trupanion, Inc.1,5 | 1,979,054 | 105,503 | |
Federal Home Loan Mortgage Corp.1,5 | 29,542,595 | 91,582 | |
S&P Global, Inc. | 127,615 | 66,680 | |
Capital One Financial Corp. | 221,143 | 42,462 | |
The Growth Fund of America — Page 5 of 12
unaudited
Common stocks (continued) Financials (continued) | Shares | Value (000) | |
Essent Group, Ltd. | 659,800 | $38,123 | |
Moelis & Co., Class A | 276,000 | 21,246 | |
30,342,892 | |||
Energy 2.01% | |||
EOG Resources, Inc. | 11,515,078 | 1,534,499 | |
Exxon Mobil Corp. | 6,318,903 | 745,378 | |
Schlumberger NV | 16,847,138 | 740,263 | |
Halliburton Co. | 20,179,119 | 642,907 | |
Cenovus Energy, Inc. | 18,706,451 | 295,001 | |
Cenovus Energy, Inc. (CAD denominated) | 16,181,126 | 256,328 | |
ConocoPhillips | 4,115,863 | 445,913 | |
Cheniere Energy, Inc. | 1,800,966 | 403,434 | |
Canadian Natural Resources, Ltd. (CAD denominated) | 11,486,310 | 389,836 | |
Weatherford International4 | 4,722,380 | 388,652 | |
Chevron Corp. | 1,878,986 | 304,264 | |
6,146,475 | |||
Materials 1.87% | |||
Linde PLC | 2,659,258 | 1,225,891 | |
Sherwin-Williams Co. | 2,867,174 | 1,139,415 | |
Freeport-McMoRan, Inc. | 18,047,376 | 797,694 | |
Steel Dynamics, Inc. | 3,533,506 | 513,312 | |
Albemarle Corp.5 | 4,000,000 | 430,800 | |
ATI, Inc.1 | 5,994,109 | 360,666 | |
Air Products and Chemicals, Inc. | 1,077,187 | 360,136 | |
Sika AG | 1,129,612 | 293,243 | |
Wheaton Precious Metals Corp. | 3,750,385 | 233,762 | |
Celanese Corp. | 2,709,868 | 198,389 | |
Barrick Gold Corp. | 7,077,141 | 123,779 | |
Shin-Etsu Chemical Co., Ltd. | 1,125,000 | 41,890 | |
5,718,977 | |||
Consumer staples 1.86% | |||
Philip Morris International, Inc. | 13,216,033 | 1,758,525 | |
Costco Wholesale Corp. | 1,510,143 | 1,467,678 | |
Target Corp. | 2,576,368 | 340,879 | |
Performance Food Group Co.1 | 3,843,642 | 339,163 | |
PepsiCo, Inc. | 1,896,305 | 309,951 | |
L’Oréal SA, non-registered shares | 423,601 | 147,301 | |
L’Oréal SA, bonus shares | 230,933 | 80,303 | |
Avenue Supermarts, Ltd.1 | 4,467,763 | 196,094 | |
Walmart, Inc. | 1,848,663 | 171,001 | |
Procter & Gamble Co. | 922,699 | 165,403 | |
Constellation Brands, Inc., Class A | 671,865 | 161,886 | |
Monster Beverage Corp.1 | 2,782,940 | 153,424 | |
Dollar Tree Stores, Inc.1 | 1,816,396 | 129,455 | |
Coca-Cola Co. | 1,903,371 | 121,968 | |
Keurig Dr Pepper, Inc. | 3,114,566 | 101,691 | |
Celsius Holdings, Inc.1 | 1,410,552 | 40,130 | |
Fever-Tree Drinks PLC | 1,541,157 | 13,685 | |
5,698,537 | |||
The Growth Fund of America — Page 6 of 12
unaudited
Common stocks (continued) Utilities 0.44% | Shares | Value (000) | |
Constellation Energy Corp. | 4,606,339 | $1,181,803 | |
PG&E Corp. | 8,398,622 | 181,662 | |
1,363,465 | |||
Real estate 0.41% | |||
CoStar Group, Inc.1 | 5,611,778 | 456,462 | |
Zillow Group, Inc., Class C, nonvoting shares1 | 5,369,388 | 454,841 | |
American Tower Corp. REIT | 1,399,900 | 292,579 | |
Crown Castle, Inc. REIT | 379,728 | 40,346 | |
1,244,228 | |||
Total common stocks (cost: $126,364,510,000) | 294,104,372 | ||
Preferred securities 0.63% Financials 0.48% | |||
Fannie Mae, Series S, 8.25% noncumulative preferred shares1 | 61,840,256 | 674,059 | |
Fannie Mae, Series T, 8.25% noncumulative preferred shares1 | 6,954,484 | 70,588 | |
Fannie Mae, Series O, 7.00% noncumulative preferred shares1 | 1,739,366 | 30,439 | |
Fannie Mae, Series R, 7.625% noncumulative preferred shares1 | 837,675 | 7,489 | |
Fannie Mae, Series P, (3-month USD-LIBOR + 0.75%) 5.615% noncumulative preferred shares1,6 | 190,000 | 1,624 | |
Federal Home Loan Mortgage Corp., Series Z, 8.375% noncumulative preferred shares1,5 | 65,776,166 | 695,254 | |
Federal Home Loan Mortgage Corp., Series X, 6.02% noncumulative preferred shares1 | 239,000 | 2,031 | |
Federal Home Loan Mortgage Corp., Series V, 5.57% noncumulative preferred shares1 | 212,500 | 1,796 | |
1,483,280 | |||
Information technology 0.11% | |||
Stripe, Inc., Series I, 6.00% noncumulative preferred shares1,2,3 | 7,098,300 | 195,274 | |
Stripe, Inc., Series BB-1, 6.00% noncumulative preferred shares1,2,3 | 604,130 | 16,620 | |
Stripe, Inc., Series G, 6.00% noncumulative preferred shares1,2,3 | 396,250 | 10,901 | |
Stripe, Inc., Series H, 6.00% noncumulative preferred shares1,2,3 | 376,444 | 10,356 | |
Stripe, Inc., Series BB, 6.00% noncumulative preferred shares1,2,3 | 214,287 | 5,895 | |
Chime Financial, Inc., Series G, preferred shares1,2,3 | 1,433,730 | 37,965 | |
PsiQuantum Corp., Series D, preferred shares1,2,3 | 613,889 | 26,127 | |
Tipalti Solutions, Ltd., Series F, preferred shares1,2,3 | 3,800,381 | 20,104 | |
323,242 | |||
Consumer discretionary 0.04% | |||
Waymo, LLC, Series A-2, 8.00% noncumulative preferred shares1,2,3 | 1,164,589 | 91,072 | |
Waymo, LLC, Series B-2, noncumulative preferred shares1,2,3 | 163,537 | 12,789 | |
GM Cruise Holdings, LLC, Series F, preferred shares1,2,3 | 5,205,500 | 19,313 | |
123,174 | |||
Industrials 0.00% | |||
Einride AB, Series C, preferred shares1,2,3 | 375,684 | 3,437 | |
Total preferred securities (cost: $1,358,384,000) | 1,933,133 | ||
Rights & warrants 0.06% Information technology 0.06% | |||
Openai Global, LLC, rights1,2,3 | 177,682,110 | 177,682 | |
Constellation Software, Inc., warrants, expire 3/31/20401,2 | 180,549 | — 7 | |
Total rights & warrants (cost: $177,682,000) | 177,682 | ||
The Growth Fund of America — Page 7 of 12
unaudited
Convertible stocks 0.00% Industrials 0.00% | Shares | Value (000) | |
ABL Space Systems Co., Class A-10, noncumulative convertible preferred shares2,3,4 | 3,616,766 | $2,528 | |
ABL Space Systems Co., Class A-9, noncumulative convertible preferred shares2,3,4 | 644,228 | 450 | |
Total convertible stocks (cost: $45,346,000) | 2,978 | ||
Convertible bonds & notes 0.01% Information technology 0.01% | Principal amount (000) | ||
Wolfspeed, Inc., convertible notes, 1.875% 12/1/2029 | USD40,000 | 17,480 | |
Total convertible bonds & notes (cost: $21,072,000) | 17,480 | ||
Short-term securities 3.38% Money market investments 3.37% | Shares | ||
Capital Group Central Cash Fund 4.65%4,8 | 103,243,999 | 10,325,432 | |
Money market investments purchased with collateral from securities on loan 0.01% | |||
Capital Group Central Cash Fund 4.65%4,8,9 | 331,871 | 33,191 | |
State Street Institutional U.S. Government Money Market Fund, Institutional Class 4.56%8,9 | 5,371,202 | 5,371 | |
38,562 | |||
Total short-term securities (cost: $10,363,645,000) | 10,363,994 | ||
Total investment securities 100.08% (cost: $138,330,639,000) | 306,599,639 | ||
Other assets less liabilities (0.08)% | (236,516 ) | ||
Net assets 100.00% | $306,363,123 | ||
The Growth Fund of America — Page 8 of 12
unaudited
Investments in affiliates4
Value at 9/1/2024 (000) | Additions (000) | Reductions (000) | Net realized gain (loss) (000) | Net unrealized appreciation (depreciation) (000) | Value at 11/30/2024 (000) | Dividend or interest income (000) | |
Common stocks 4.02% | |||||||
Information technology 0.00% | |||||||
Wolfspeed, Inc.1,10 | $69,800 | $— | $56,994 | $(494,283 ) | $481,477 | $— | $— |
Consumer discretionary 2.48% | |||||||
Royal Caribbean Cruises, Ltd. | 3,884,211 | — | 1,658 | 822 | 1,873,222 | 5,756,597 | 9,438 |
Floor & Decor Holdings, Inc., Class A1 | 480,208 | 546,929 | — | — | 41,344 | 1,068,481 | — |
Caesars Entertainment, Inc.1 | 465,216 | 20,031 | — | — | 9,720 | 494,967 | — |
Polaris, Inc. | 325,428 | — | — | — | (60,165 ) | 265,263 | 2,537 |
Mattel, Inc.1,10 | 326,908 | — | 315,898 | 78,535 | (89,545 ) | — | — |
7,585,308 | |||||||
Industrials 0.34% | |||||||
XPO, Inc.1 | 637,967 | 152,832 | — | — | 261,771 | 1,052,570 | — |
Health care 1.07% | |||||||
Alnylam Pharmaceuticals, Inc.1 | 2,786,990 | 205,699 | 222,484 | 40,109 | (135,793 ) | 2,674,521 | — |
Exact Sciences Corp.1 | 524,164 | 60,650 | — | — | 14,295 | 599,109 | — |
3,273,630 | |||||||
Financials 0.00% | |||||||
Essent Group, Ltd.11 | 350,172 | — | 278,416 | 56,529 | (90,162 ) | — | — |
Energy 0.13% | |||||||
Weatherford International | 130,256 | 297,211 | — | — | (38,815 ) | 388,652 | 1,181 |
Materials 0.00% | |||||||
Celanese Corp.11 | 900,781 | — | 328,487 | (173,610 ) | (200,295 ) | — | 4,828 |
Consumer staples 0.00% | |||||||
Fever-Tree Drinks PLC11 | 82,520 | — | 52,424 | (80,721 ) | 64,310 | — | 332 |
Total common stocks | 12,300,160 | ||||||
Convertible stocks 0.00% | |||||||
Industrials 0.00% | |||||||
ABL Space Systems Co., Class A-10, noncumulative convertible preferred shares2,3 | — | 6,180 | — | — | (3,652 ) | 2,528 | — |
ABL Space Systems Co., Class A-9, noncumulative convertible preferred shares2,3 | — | 39,166 | — | — | (38,716 ) | 450 | — |
2,978 | |||||||
Short-term securities 3.38% | |||||||
Money market investments 3.37% | |||||||
Capital Group Central Cash Fund 4.65%8 | 9,837,268 | 11,431,586 | 10,941,539 | 1,147 | (3,030 ) | 10,325,432 | 140,834 |
Money market investments purchased with collateral from securities on loan 0.01% | |||||||
Capital Group Central Cash Fund 4.65%8,9 | 180,041 | 146,850 12 | 33,191 | — 13 | |||
Total short-term securities | 10,358,623 | ||||||
Total 7.40% | $(571,472 ) | $2,085,966 | $22,661,761 | $159,150 | |||
The Growth Fund of America — Page 9 of 12
unaudited
Restricted securities3
Acquisition date(s) | Cost (000) | Value (000) | Percent of net assets | |
Stripe, Inc., Series I, 6.00% noncumulative preferred shares1,2 | 3/15/2023 | $142,918 | $195,274 | .07 % |
Stripe, Inc., Class B1,2 | 5/6/2021-8/24/2023 | 45,738 | 31,745 | .01 |
Stripe, Inc., Series BB-1, 6.00% noncumulative preferred shares1,2 | 8/24/2023 | 13,012 | 16,620 | .01 |
Stripe, Inc., Series G, 6.00% noncumulative preferred shares1,2 | 9/29/2023 | 8,909 | 10,901 | .00 14 |
Stripe, Inc., Series H, 6.00% noncumulative preferred shares1,2 | 3/15/2021 | 15,105 | 10,356 | .00 14 |
Stripe, Inc., Series BB, 6.00% noncumulative preferred shares1,2 | 8/24/2023 | 4,615 | 5,895 | .00 14 |
Openai Global, LLC, rights1,2 | 9/30/2024 | 177,682 | 177,682 | .06 |
Waymo, LLC, Series A-2, 8.00% noncumulative preferred shares1,2 | 5/1/2020 | 100,000 | 91,072 | .03 |
Waymo, LLC, Series B-2, noncumulative preferred shares1,2 | 6/11/2021 | 15,000 | 12,789 | .00 14 |
Verily Life Sciences, LLC1,2 | 12/21/2018 | 83,000 | 70,327 | .02 |
Epic Games, Inc.1,2 | 3/29/2021 | 74,560 | 50,549 | .02 |
Chime Financial, Inc., Series G, preferred shares1,2 | 8/24/2021 | 99,027 | 37,965 | .01 |
PsiQuantum Corp., Series D, preferred shares1,2 | 5/28/2021 | 16,100 | 26,127 | .01 |
Tipalti Solutions, Ltd., Series F, preferred shares1,2 | 12/1/2021 | 65,065 | 20,104 | .01 |
GM Cruise Holdings, LLC, Series F, preferred shares1,2 | 5/7/2020 | 95,001 | 19,313 | .01 |
Einride AB, Series C, preferred shares1,2 | 11/23/2022-5/3/2024 | 12,773 | 3,437 | .00 14 |
Einride AB1,2 | 2/1/2023 | 9,092 | 2,447 | .00 14 |
ABL Space Systems Co., Class A-10, noncumulative convertible preferred shares2,4 | 12/14/2023 | 6,180 | 2,528 | .00 14 |
ABL Space Systems Co., Class A-9, noncumulative convertible preferred shares2,4 | 10/22/2021 | 39,166 | 450 | .00 14 |
Total | $1,022,943 | $785,581 | .26 % |
1 | Security did not produce income during the last 12 months. |
2 | Value determined using significant unobservable inputs. |
3 | 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 $785,581,000, which represented .26% of the net assets of the fund. |
4 | Affiliate of the fund or part of the same “group of investment companies“ as the fund, as defined under the Investment Company Act of 1940, as amended. |
5 | All or a portion of this security was on loan. The total value of all such securities was $41,287,000, which represented .01% of the net assets of the fund. |
6 | Securities referencing LIBOR are expected to transition to an alternative reference rate by the security’s next scheduled coupon reset date. |
7 | Amount less than one thousand. |
8 | Rate represents the seven-day yield at 11/30/2024. |
9 | Security purchased with cash collateral from securities on loan. |
10 | Affiliated issuer during the reporting period but no longer held at 11/30/2024. |
11 | Affiliated issuer during the reporting period but no longer an affiliate at 11/30/2024. Refer to the investment portfolio for the security value at 11/30/2024. |
12 | Represents net activity. |
13 | Dividend income is included with securities lending income and is not shown in this table. |
14 | 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. Assets and liabilities, including investment securities, denominated in currencies other than U.S. dollars are translated into U.S. dollars at the exchange rates supplied by one or more pricing vendors on the valuation date.
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.
The Growth Fund of America — Page 10 of 12
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 |
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.
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, 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.
The Growth Fund of America — Page 11 of 12
unaudited
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 table presents the fund’s valuation levels as of November 30, 2024 (dollars in thousands):
Investment securities | ||||
Level 1 | Level 2 | Level 3 | Total | |
Assets: | ||||
Common stocks: | ||||
Information technology | $70,886,440 | $5,904,860 | $31,745 | $76,823,045 |
Consumer discretionary | 48,114,998 | 1,534,048 | — | 49,649,046 |
Communication services | 39,548,377 | 736,215 | 50,549 | 40,335,141 |
Industrials | 36,315,798 | 2,351,510 | 2,447 | 38,669,755 |
Health care | 36,551,269 | 1,491,215 | 70,327 | 38,112,811 |
Financials | 29,743,306 | 599,586 | — | 30,342,892 |
Energy | 6,146,475 | — | — | 6,146,475 |
Materials | 5,383,844 | 335,133 | — | 5,718,977 |
Consumer staples | 5,261,154 | 437,383 | — | 5,698,537 |
Utilities | 1,363,465 | — | — | 1,363,465 |
Real estate | 1,244,228 | — | — | 1,244,228 |
Preferred securities | 1,483,280 | — | 449,853 | 1,933,133 |
Rights & warrants | — | — | 177,682 | 177,682 |
Convertible stocks | — | — | 2,978 | 2,978 |
Convertible bonds & notes | — | 17,480 | — | 17,480 |
Short-term securities | 10,363,994 | — | — | 10,363,994 |
Total | $292,406,628 | $13,407,430 | $785,581 | $306,599,639 |
Key to abbreviation(s) |
ADR = American Depositary Receipts |
CAD = Canadian dollars |
EUR = Euros |
LIBOR = London Interbank Offered Rate |
REIT = Real Estate Investment Trust |
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.
Capital Client Group, Inc., member FINRA.
© 2025 Capital Group. All rights reserved.
MFGEFP1-005-0125
The Growth Fund of America — Page 12 of 12