New Perspective Fund®
Investment portfolio
June 30, 2024unaudited
Common stocks 95.62% Information technology 22.03% | Shares | Value (000) | |
Microsoft Corp. | 11,446,781 | $5,116,140 | |
Taiwan Semiconductor Manufacturing Co., Ltd. | 144,604,941 | 4,300,769 | |
Broadcom, Inc. | 2,483,496 | 3,987,327 | |
NVIDIA Corp. | 22,510,063 | 2,780,893 | |
ASML Holding NV | 1,348,044 | 1,390,773 | |
ASML Holding NV (ADR) | 1,230,792 | 1,258,768 | |
Apple, Inc. | 6,083,343 | 1,281,274 | |
SAP SE | 4,746,537 | 963,712 | |
Synopsys, Inc.1 | 1,565,244 | 931,414 | |
Shopify, Inc., Class A, subordinate voting shares1 | 12,130,532 | 801,222 | |
Motorola Solutions, Inc. | 1,962,823 | 757,748 | |
Keyence Corp. | 1,682,240 | 742,163 | |
ServiceNow, Inc.1 | 823,815 | 648,071 | |
Arista Networks, Inc.1 | 1,693,424 | 593,511 | |
Salesforce, Inc. | 2,127,264 | 546,920 | |
Samsung Electronics Co., Ltd. | 8,354,226 | 490,943 | |
Capgemini SE | 2,344,103 | 464,300 | |
Cloudflare, Inc., Class A1 | 4,412,929 | 365,523 | |
Fujitsu, Ltd. | 21,904,100 | 344,154 | |
GoDaddy, Inc., Class A1 | 1,977,560 | 276,285 | |
STMicroelectronics NV | 6,596,392 | 257,233 | |
TDK Corp. | 4,119,100 | 251,720 | |
MediaTek, Inc. | 5,529,000 | 236,366 | |
Tokyo Electron, Ltd. | 1,056,459 | 231,995 | |
Applied Materials, Inc. | 975,396 | 230,184 | |
ON Semiconductor Corp.1 | 3,292,749 | 225,718 | |
TE Connectivity, Ltd. | 1,497,412 | 225,256 | |
Dell Technologies, Inc., Class C | 1,423,388 | 196,299 | |
Micron Technology, Inc. | 1,191,500 | 156,718 | |
Keysight Technologies, Inc.1 | 998,447 | 136,538 | |
Smartsheet, Inc., Class A1 | 2,849,154 | 125,591 | |
NICE, Ltd. (ADR)1,2 | 438,292 | 75,373 | |
Workday, Inc., Class A1 | 292,523 | 65,396 | |
EPAM Systems, Inc.1 | 274,361 | 51,610 | |
Wolfspeed, Inc.1 | 2,255,516 | 51,335 | |
Globant SA1 | 264,590 | 47,166 | |
Accenture PLC, Class A | 148,335 | 45,006 | |
30,651,414 | |||
Health care 15.65% | |||
Novo Nordisk AS, Class B | 31,586,882 | 4,512,381 | |
Novo Nordisk AS, Class B (ADR) | 802,234 | 114,511 | |
AstraZeneca PLC | 15,285,063 | 2,382,881 | |
AstraZeneca PLC (ADR) | 1,150,977 | 89,765 | |
Eli Lilly and Co. | 2,543,684 | 2,303,001 | |
Vertex Pharmaceuticals, Inc.1 | 3,749,733 | 1,757,575 |
New Perspective Fund — Page 1 of 11
unaudited
Common stocks (continued) Health care (continued) | Shares | Value (000) | |
Regeneron Pharmaceuticals, Inc.1 | 1,297,906 | $1,364,138 | |
EssilorLuxottica SA | 5,762,210 | 1,236,386 | |
Thermo Fisher Scientific, Inc. | 1,905,548 | 1,053,768 | |
Intuitive Surgical, Inc.1 | 2,312,764 | 1,028,833 | |
Danaher Corp. | 3,642,804 | 910,155 | |
Alnylam Pharmaceuticals, Inc.1 | 3,464,301 | 841,825 | |
Abbott Laboratories | 4,937,837 | 513,091 | |
Zoetis, Inc., Class A | 2,577,880 | 446,901 | |
BeiGene, Ltd. (ADR)1 | 2,801,718 | 399,721 | |
BeiGene, Ltd.1 | 2,875,700 | 31,531 | |
Mettler-Toledo International, Inc.1 | 283,932 | 396,820 | |
Siemens Healthineers AG | 5,566,545 | 320,662 | |
Sanofi | 2,659,841 | 255,667 | |
CRISPR Therapeutics AG1,2,3 | 4,690,599 | 253,339 | |
Pfizer, Inc. | 8,797,005 | 246,140 | |
AbbVie, Inc. | 1,378,709 | 236,476 | |
Boston Scientific Corp.1 | 2,506,361 | 193,015 | |
Edwards Lifesciences Corp.1 | 1,761,733 | 162,731 | |
Gilead Sciences, Inc. | 2,194,884 | 150,591 | |
Lonza Group AG | 195,429 | 106,207 | |
Amplifon SpA | 2,652,315 | 94,082 | |
Bayer AG | 3,139,213 | 88,774 | |
Grifols, SA, Class B (ADR)1 | 14,058,533 | 88,639 | |
BioNTech SE (ADR)1 | 798,140 | 64,139 | |
Asahi Intecc Co., Ltd.2 | 4,402,300 | 61,971 | |
Genmab AS1 | 243,551 | 61,077 | |
Straumann Holding AG | 44,242 | 5,446 | |
21,772,239 | |||
Industrials 14.31% | |||
Safran SA | 7,257,563 | 1,526,888 | |
Carrier Global Corp. | 19,885,403 | 1,254,371 | |
Schneider Electric SE | 4,902,656 | 1,169,792 | |
Caterpillar, Inc. | 3,306,157 | 1,101,281 | |
Airbus SE, non-registered shares | 6,974,868 | 961,734 | |
DSV A/S | 5,667,282 | 867,239 | |
ABB, Ltd. | 12,640,302 | 699,742 | |
TransDigm Group, Inc. | 530,529 | 677,809 | |
Rolls-Royce Holdings PLC1 | 111,998,156 | 647,395 | |
BAE Systems PLC | 37,528,119 | 626,624 | |
Canadian Pacific Kansas City, Ltd. | 7,211,104 | 567,730 | |
Mitsui & Co., Ltd. | 24,250,000 | 553,182 | |
Ryanair Holdings PLC (ADR) | 4,518,009 | 526,077 | |
Daikin Industries, Ltd. | 3,717,800 | 513,586 | |
Copart, Inc.1 | 9,453,378 | 511,995 | |
ASSA ABLOY AB, Class B | 17,464,405 | 494,943 | |
General Electric Co. | 2,989,955 | 475,313 | |
Equifax, Inc. | 1,865,462 | 452,300 | |
Ingersoll-Rand, Inc. | 4,507,568 | 409,467 | |
Northrop Grumman Corp. | 819,960 | 357,462 | |
Siemens AG | 1,814,882 | 337,548 | |
HEICO Corp. | 1,483,242 | 331,668 | |
FedEx Corp. | 1,046,443 | 313,765 | |
RELX PLC | 6,834,808 | 313,315 | |
Uber Technologies, Inc.1 | 3,928,655 | 285,535 |
New Perspective Fund — Page 2 of 11
unaudited
Common stocks (continued) Industrials (continued) | Shares | Value (000) | |
Howmet Aerospace, Inc. | 3,240,048 | $251,525 | |
Delta Air Lines, Inc. | 5,129,437 | 243,340 | |
Recruit Holdings Co., Ltd. | 4,386,783 | 236,091 | |
Boeing Co.1 | 1,141,068 | 207,686 | |
Rentokil Initial PLC | 34,021,410 | 198,372 | |
SMC Corp. | 364,400 | 173,980 | |
Canadian National Railway Co. (CAD denominated) | 1,440,304 | 170,198 | |
Eaton Corp. PLC | 519,936 | 163,026 | |
Thales SA | 997,675 | 160,311 | |
ITOCHU Corp.2 | 3,260,600 | 159,990 | |
AMETEK, Inc. | 920,378 | 153,436 | |
Diploma PLC | 2,911,570 | 151,918 | |
Deere & Co. | 400,000 | 149,452 | |
Marubeni Corp. | 7,958,100 | 148,655 | |
Hitachi, Ltd. | 5,785,500 | 130,414 | |
L3Harris Technologies, Inc. | 579,940 | 130,243 | |
ITT, Inc. | 1,005,489 | 129,889 | |
Bunzl PLC | 3,145,848 | 119,333 | |
ATS Corp.1 | 3,633,476 | 117,579 | |
Contemporary Amperex Technology Co., Ltd., Class A | 4,386,370 | 108,354 | |
Chart Industries, Inc.1,2 | 745,263 | 107,571 | |
Techtronic Industries Co., Ltd. | 9,268,516 | 105,835 | |
Regal Rexnord Corp. | 756,692 | 102,320 | |
Aalberts NV, non-registered shares | 2,511,946 | 101,807 | |
Dayforce, Inc.1,2 | 1,907,196 | 94,597 | |
Veralto Corp. | 603,527 | 57,619 | |
UL Solutions, Inc., Class A | 910,972 | 38,434 | |
Spirax Group PLC | 284,829 | 30,557 | |
19,919,293 | |||
Consumer discretionary 11.61% | |||
Tesla, Inc.1 | 11,304,156 | 2,236,866 | |
Amazon.com, Inc.1 | 7,262,629 | 1,403,503 | |
Booking Holdings, Inc. | 331,172 | 1,311,938 | |
Royal Caribbean Cruises, Ltd.1 | 5,141,437 | 819,699 | |
Trip.com Group, Ltd. (ADR)1 | 17,230,231 | 809,821 | |
MercadoLibre, Inc.1 | 457,451 | 751,775 | |
Prosus NV, Class N | 19,306,303 | 683,930 | |
Hermès International | 296,254 | 681,889 | |
Hilton Worldwide Holdings, Inc. | 3,002,099 | 655,058 | |
Home Depot, Inc. | 1,834,556 | 631,528 | |
LVMH Moët Hennessy-Louis Vuitton SE | 770,115 | 591,411 | |
Airbnb, Inc., Class A1 | 3,019,221 | 457,804 | |
Renault SA | 8,528,361 | 434,976 | |
Kering SA | 1,120,952 | 407,509 | |
Evolution AB | 3,783,539 | 394,278 | |
YUM! Brands, Inc. | 2,871,523 | 380,362 | |
Restaurant Brands International, Inc. | 5,399,165 | 379,939 | |
Flutter Entertainment PLC1 | 2,019,562 | 368,287 | |
Amadeus IT Group SA, Class A, non-registered shares | 5,356,290 | 356,438 | |
Industria de Diseño Textil, SA | 5,404,448 | 267,075 | |
Entain PLC | 26,068,943 | 206,392 | |
McDonald’s Corp. | 777,175 | 198,055 | |
NIKE, Inc., Class B | 2,527,447 | 190,494 | |
Naspers, Ltd., Class N | 932,292 | 181,714 |
New Perspective Fund — Page 3 of 11
unaudited
Common stocks (continued) Consumer discretionary (continued) | Shares | Value (000) | |
Compagnie Financière Richemont SA, Class A | 1,098,493 | $171,440 | |
Suzuki Motor Corp. | 14,294,200 | 165,430 | |
Galaxy Entertainment Group, Ltd. | 33,524,000 | 156,155 | |
Nitori Holdings Co., Ltd. | 1,199,200 | 126,855 | |
adidas AG | 498,057 | 118,868 | |
lululemon athletica, Inc.1 | 390,284 | 116,578 | |
Valeo SA, non-registered shares | 10,605,788 | 113,443 | |
Ferrari NV (EUR denominated) | 275,422 | 112,608 | |
Sands China, Ltd.1 | 51,715,400 | 107,742 | |
Wynn Macau, Ltd.2 | 105,892,800 | 86,897 | |
Birkenstock Holding PLC1,2 | 1,220,256 | 66,394 | |
Fast Retailing Co., Ltd. | 47,537 | 12,060 | |
16,155,211 | |||
Financials 9.92% | |||
JPMorgan Chase & Co. | 6,931,102 | 1,401,885 | |
London Stock Exchange Group PLC | 7,665,452 | 908,639 | |
Visa, Inc., Class A | 3,251,545 | 853,433 | |
Mastercard, Inc., Class A | 1,846,853 | 814,758 | |
Chubb, Ltd. | 3,173,599 | 809,522 | |
UniCredit SpA | 15,833,631 | 589,968 | |
AIA Group, Ltd. | 85,190,808 | 577,675 | |
Bank of America Corp. | 14,075,623 | 559,788 | |
Arthur J. Gallagher & Co. | 2,099,706 | 544,475 | |
Deutsche Bank AG | 32,268,516 | 514,752 | |
Blackstone, Inc. | 3,908,209 | 483,836 | |
ICICI Bank, Ltd. (ADR) | 9,293,205 | 267,737 | |
ICICI Bank, Ltd. | 12,897,573 | 185,247 | |
CME Group, Inc., Class A | 2,285,388 | 449,307 | |
S&P Global, Inc. | 1,003,361 | 447,499 | |
DBS Group Holdings, Ltd. | 14,123,470 | 372,163 | |
Aon PLC, Class A | 1,265,051 | 371,394 | |
Arch Capital Group, Ltd.1 | 2,958,612 | 298,494 | |
Edenred SA | 6,993,207 | 295,072 | |
AXA SA | 8,347,039 | 274,846 | |
Hong Kong Exchanges and Clearing, Ltd. | 7,432,600 | 236,816 | |
Prudential PLC | 25,089,840 | 227,613 | |
BlackRock, Inc. | 288,215 | 226,917 | |
Brookfield Asset Management, Ltd., Class A | 5,776,767 | 219,806 | |
Hiscox, Ltd. | 14,535,270 | 211,159 | |
Société Générale2 | 8,825,629 | 206,066 | |
DNB Bank ASA | 9,633,923 | 189,176 | |
Citigroup, Inc. | 2,772,215 | 175,925 | |
Goldman Sachs Group, Inc. | 379,521 | 171,665 | |
TMX Group, Ltd. | 5,986,985 | 166,649 | |
Brookfield Corp., Class A | 3,776,541 | 156,877 | |
Zurich Insurance Group AG | 255,197 | 135,767 | |
3i Group PLC | 3,149,545 | 121,459 | |
Marsh & McLennan Companies, Inc. | 559,872 | 117,976 | |
Morgan Stanley | 1,022,422 | 99,369 | |
Skandinaviska Enskilda Banken AB, Class A | 4,078,260 | 60,410 | |
Intact Financial Corp. | 184,681 | 30,780 |
New Perspective Fund — Page 4 of 11
unaudited
Common stocks (continued) Financials (continued) | Shares | Value (000) | |
Wise PLC, Class A1 | 1,755,166 | $15,099 | |
Banco Bilbao Vizcaya Argentaria, SA | 1,139,173 | 11,365 | |
13,801,384 | |||
Communication services 9.58% | |||
Meta Platforms, Inc., Class A | 9,345,422 | 4,712,149 | |
Alphabet, Inc., Class C | 8,429,436 | 1,546,127 | |
Alphabet, Inc., Class A | 8,275,286 | 1,507,343 | |
Netflix, Inc.1 | 2,582,732 | 1,743,034 | |
Tencent Holdings, Ltd. | 21,387,700 | 1,015,081 | |
Publicis Groupe SA | 4,880,790 | 517,331 | |
Nintendo Co., Ltd. | 8,656,500 | 462,525 | |
Electronic Arts, Inc. | 3,149,515 | 438,822 | |
América Móvil, SAB de CV, Class B (ADR) | 23,286,868 | 395,877 | |
Bharti Airtel, Ltd. | 20,786,189 | 358,920 | |
Singapore Telecommunications, Ltd. | 119,323,100 | 241,321 | |
MTN Group, Ltd. | 44,831,066 | 208,143 | |
Warner Music Group Corp., Class A | 4,237,961 | 129,893 | |
Take-Two Interactive Software, Inc.1 | 359,462 | 55,893 | |
13,332,459 | |||
Consumer staples 4.99% | |||
Nestlé SA | 11,723,550 | 1,196,711 | |
Costco Wholesale Corp. | 1,388,350 | 1,180,084 | |
Philip Morris International, Inc. | 10,037,167 | 1,017,066 | |
Bunge Global SA | 4,352,478 | 464,714 | |
Carlsberg A/S, Class B | 3,774,145 | 451,672 | |
Danone SA | 6,018,274 | 367,296 | |
L’Oréal SA, bonus shares | 686,197 | 301,730 | |
L’Oréal SA, non-registered shares | 103,238 | 45,395 | |
Monster Beverage Corp.1 | 6,710,505 | 335,190 | |
British American Tobacco PLC | 10,710,411 | 329,240 | |
Mondelez International, Inc., Class A | 4,214,427 | 275,792 | |
Uni-Charm Corp. | 6,500,400 | 208,262 | |
Carrefour SA, non-registered shares | 14,632,751 | 206,764 | |
Anheuser-Busch InBev SA/NV | 3,403,300 | 196,596 | |
Walgreens Boots Alliance, Inc. | 10,447,609 | 126,364 | |
Pernod Ricard SA | 728,018 | 99,074 | |
Reckitt Benckiser Group PLC | 1,088,270 | 58,727 | |
KOSÉ Corp.2 | 900,300 | 57,317 | |
Varun Beverages, Ltd. | 1,575,342 | 30,651 | |
6,948,645 | |||
Materials 3.82% | |||
Sika AG | 3,379,645 | 962,057 | |
Linde PLC | 1,477,104 | 648,168 | |
Shin-Etsu Chemical Co., Ltd. | 16,230,400 | 631,300 | |
Sherwin-Williams Co. | 1,902,562 | 567,782 | |
Freeport-McMoRan, Inc. | 9,785,525 | 475,577 | |
Air Liquide SA | 1,781,622 | 306,727 | |
Air Liquide SA, bonus shares | 595,600 | 102,540 | |
First Quantum Minerals, Ltd. | 20,687,741 | 271,744 | |
Glencore PLC | 40,051,445 | 228,365 | |
Rio Tinto PLC | 3,418,634 | 225,034 | |
Vale SA (ADR), ordinary nominative shares | 15,022,017 | 167,796 |
New Perspective Fund — Page 5 of 11
unaudited
Common stocks (continued) Materials (continued) | Shares | Value (000) | |
Gerdau SA (ADR) | 49,376,633 | $162,943 | |
Celanese Corp. | 1,131,629 | 152,645 | |
DSM-Firmenich AG | 1,245,329 | 140,229 | |
Grupo México, SAB de CV, Series B | 23,557,493 | 126,717 | |
Corteva, Inc. | 1,769,166 | 95,429 | |
LANXESS AG2 | 1,496,512 | 36,745 | |
Asahi Kasei Corp. | 1,975,900 | 12,651 | |
5,314,449 | |||
Energy 2.79% | |||
TotalEnergies SE | 14,554,288 | 970,029 | |
Schlumberger NV | 15,023,843 | 708,825 | |
BP PLC | 109,247,794 | 658,271 | |
Cenovus Energy, Inc. (CAD denominated) | 19,938,506 | 391,905 | |
Cenovus Energy, Inc. | 4,787,318 | 94,119 | |
ConocoPhillips | 2,180,432 | 249,398 | |
TC Energy Corp. (CAD denominated)2 | 6,578,055 | 249,361 | |
Canadian Natural Resources, Ltd. (CAD denominated) | 5,421,142 | 193,101 | |
Baker Hughes Co., Class A | 3,990,698 | 140,353 | |
Tourmaline Oil Corp. | 2,927,579 | 132,785 | |
INPEX Corp.2 | 4,732,500 | 69,885 | |
Reliance Industries, Ltd. | 541,584 | 20,274 | |
Gazprom PJSC1,4 | 84,876,650 | — 5 | |
Rosneft Oil Co. PJSC4 | 40,028,340 | — 5 | |
LUKOIL Oil Co. PJSC4 | 580,410 | — 5 | |
3,878,306 | |||
Utilities 0.53% | |||
Engie SA | 22,934,860 | 326,660 | |
AES Corp. | 12,664,299 | 222,512 | |
Sempra | 2,485,225 | 189,026 | |
738,198 | |||
Real estate 0.39% | |||
Goodman Logistics (HK), Ltd. REIT | 16,158,601 | 372,398 | |
Equinix, Inc. REIT | 234,341 | 177,303 | |
549,701 | |||
Total common stocks (cost: $70,943,154,000) | 133,061,299 | ||
Preferred securities 0.01% Consumer discretionary 0.01% | |||
Dr. Ing. h.c. F. Porsche AG, nonvoting non-registered preferred shares | 116,967 | 8,696 | |
Total preferred securities (cost: $11,878,000) | 8,696 | ||
Rights & warrants 0.00% Health care 0.00% | |||
Amplifon SpA, rights, expire 7/9/20241 | 2,652,315 | — 5 | |
Total rights & warrants (cost: $0) | — 5 |
New Perspective Fund — Page 6 of 11
unaudited
Short-term securities 4.35% Money market investments 4.32% | Shares | Value (000) | |
Capital Group Central Cash Fund 5.37%3,6 | 60,150,890 | $6,015,089 | |
Money market investments purchased with collateral from securities on loan 0.03% | |||
Invesco Short-Term Investments Trust – Government & Agency Portfolio, Institutional Class 5.23%6,7 | 5,721,476 | 5,722 | |
Capital Group Central Cash Fund 5.37%3,6,7 | 50,054 | 5,005 | |
Dreyfus Treasury Obligations Cash Management, Institutional Shares 5.18%6,7 | 5,000,000 | 5,000 | |
State Street Institutional U.S. Government Money Market Fund, Premier Class 5.25%6,7 | 3,900,000 | 3,900 | |
BlackRock Liquidity Funds – FedFund, Institutional Shares 5.21%6,7 | 3,600,000 | 3,600 | |
Goldman Sachs Financial Square Government Fund, Institutional Shares 5.22%6,7 | 3,600,000 | 3,600 | |
Morgan Stanley Institutional Liquidity Funds – Government Portfolio, Institutional Class 5.22%6,7 | 3,600,000 | 3,600 | |
Fidelity Investments Money Market Government Portfolio, Class I 5.21%6,7 | 2,800,000 | 2,800 | |
RBC Funds Trust – U.S. Government Money Market Fund, RBC Institutional Class 1 5.23%6,7 | 2,800,000 | 2,800 | |
36,027 | |||
Total short-term securities (cost: $6,051,036,000) | 6,051,116 | ||
Total investment securities 99.98% (cost: $77,006,068,000) | 139,121,111 | ||
Other assets less liabilities 0.02% | 28,778 | ||
Net assets 100.00% | $139,149,889 |
Forward currency contracts
Contract amount | Counterparty | Settlement date | Unrealized appreciation (depreciation) at 6/30/2024 (000) | |||
Currency purchased (000) | Currency sold (000) | |||||
USD | 582 | CAD | 796 | JPMorgan Chase | 7/3/2024 | $— 5 |
Investments in affiliates3
Value at 10/1/2023 (000) | Additions (000) | Reductions (000) | Net realized gain (loss) (000) | Net unrealized appreciation (depreciation) (000) | Value at 6/30/2024 (000) | Dividend or interest income (000) | |
Common stocks 0.18% | |||||||
Information technology 0.00% | |||||||
GoDaddy, Inc., Class A1,8 | $568,824 | $— | $571,835 | $268,648 | $10,648 | $— | $— |
Health care 0.18% | |||||||
CRISPR Therapeutics AG1,2 | 161,159 | 84,457 | 588 | 90 | 8,221 | 253,339 | — |
Consumer discretionary 0.00% | |||||||
Entain PLC8 | 392,544 | 71,301 | 146,617 | (105,400 ) | (5,436 ) | — | 3,258 |
Total common stocks | 253,339 | ||||||
Short-term securities 4.33% | |||||||
Money market investments 4.32% | |||||||
Capital Group Central Cash Fund 5.37%6 | 1,426,235 | 15,442,624 | 10,854,154 | 291 | 93 | 6,015,089 | 266,019 |
New Perspective Fund — Page 7 of 11
unaudited
Investments in affiliates3 (continued)
Value at 10/1/2023 (000) | Additions (000) | Reductions (000) | Net realized gain (loss) (000) | Net unrealized appreciation (depreciation) (000) | Value at 6/30/2024 (000) | Dividend or interest income (000) | |
Money market investments purchased with collateral from securities on loan 0.01% | |||||||
Capital Group Central Cash Fund 5.37%6,7 | $60,221 | $ | $55,216 9 | $ | $ | $5,005 | $— 10 |
Total short-term securities | 6,020,094 | ||||||
Total 4.51% | $163,629 | $13,526 | $6,273,433 | $269,277 |
1 | Security did not produce income during the last 12 months. |
2 | All or a portion of this security was on loan. The total value of all such securities was $668,176,000, which represented .48% of the net assets of the fund. |
3 | 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. |
4 | Value determined using significant unobservable inputs. |
5 | Amount less than one thousand. |
6 | Rate represents the seven-day yield at 6/30/2024. |
7 | Security purchased with cash collateral from securities on loan. |
8 | Affiliated issuer during the reporting period but no longer an affiliate at 6/30/2024. Refer to the investment portfolio for the security value at 6/30/2024. |
9 | Represents net activity. |
10 | Dividend income is included with securities lending income and is not shown in this table. |
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.
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.
New Perspective Fund — Page 8 of 11
unaudited
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. 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 $582,000.
Securities and other assets for which representative market quotations are not readily available or are considered unreliable by the fund’s investment adviser are fair valued as determined in good faith under fair valuation guidelines adopted by 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.
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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 tables present the fund’s valuation levels as of June 30, 2024 (dollars in thousands):
Investment securities | ||||
Level 1 | Level 2 | Level 3 | Total | |
Assets: | ||||
Common stocks: | ||||
Information technology | $20,977,286 | $9,674,128 | $— | $30,651,414 |
Health care | 12,615,174 | 9,157,065 | — | 21,772,239 |
Industrials | 9,381,688 | 10,537,605 | — | 19,919,293 |
Consumer discretionary | 10,778,101 | 5,377,110 | — | 16,155,211 |
Financials | 8,668,092 | 5,133,292 | — | 13,801,384 |
Communication services | 10,529,138 | 2,803,321 | — | 13,332,459 |
Consumer staples | 3,399,210 | 3,549,435 | — | 6,948,645 |
Materials | 2,668,801 | 2,645,648 | — | 5,314,449 |
Energy | 2,159,847 | 1,718,459 | — * | 3,878,306 |
Utilities | 411,538 | 326,660 | — | 738,198 |
Real estate | 177,303 | 372,398 | — | 549,701 |
Preferred securities | — | 8,696 | — | 8,696 |
Rights & warrants | — | — * | — | — * |
Short-term securities | 6,051,116 | — | — | 6,051,116 |
Total | $87,817,294 | $51,303,817 | $— * | $139,121,111 |
Other investments† | ||||
Level 1 | Level 2 | Level 3 | Total | |
Assets: | ||||
Unrealized appreciation on open forward currency contracts | $— | $— * | $— | $— * |
Total | $— | $— * | $— | $— * |
*
Amount less than one thousand.
†
Forward currency contracts are not included in the fund’s investment portfolio.
Key to abbreviation(s) |
ADR = American Depositary Receipts |
CAD = Canadian dollars |
EUR = Euros |
REIT = Real Estate Investment Trust |
USD = U.S. dollars |
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unaudited
Investments are not FDIC-insured, nor are they deposits of or guaranteed by a bank or any other entity, so they may lose value.
Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the fund prospectus and summary prospectus, which can be obtained from your financial professional and should be read carefully before investing. You may also call American Funds Service Company (AFS) at (800) 421-4225 or visit the Capital Group website at capitalgroup.com.
All Capital Group trademarks mentioned are owned by The Capital Group Companies, Inc., an affiliated company or fund. All other company and product names mentioned are the property of their respective companies.
American Funds Distributors, Inc., member FINRA.
© 2024 Capital Group. All rights reserved.
MFGEFP3-007-0824
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