EuroPacific Growth Fund®
Investment portfolio
December 31, 2019
unaudited
Common stocks 90.62% Financials 15.21% | Shares | Value (000) |
HDFC Bank Ltd.1 | 211,861,504 | $3,775,776 |
HDFC Bank Ltd. (ADR) | 12,178,267 | 771,737 |
AIA Group Ltd.1 | 356,105,000 | 3,746,814 |
Kotak Mahindra Bank Ltd.1 | 95,139,478 | 2,243,885 |
London Stock Exchange Group PLC1 | 9,442,483 | 975,334 |
B3 SA - Brasil, Bolsa, Balcao | 79,790,000 | 852,307 |
Sberbank of Russia PJSC (ADR)1 | 51,455,452 | 846,647 |
Prudential PLC1 | 40,866,239 | 786,325 |
Ping An Insurance (Group) Co. of China, Ltd., Class H1 | 56,466,499 | 668,917 |
Ping An Insurance (Group) Co. of China, Ltd., Class A1 | 8,178,157 | 100,382 |
Barclays PLC1 | 304,354,281 | 726,814 |
ICICI Bank Ltd.1 | 85,125,000 | 644,845 |
Brookfield Asset Management Inc., Class A | 11,104,466 | 641,838 |
Housing Development Finance Corp. Ltd.1 | 18,926,695 | 640,936 |
Axis Bank Ltd.1 | 56,891,711 | 601,561 |
Bank Central Asia Tbk PT1 | 244,850,000 | 588,221 |
UniCredit SpA1 | 40,109,728 | 586,416 |
DBS Group Holdings Ltd.1 | 29,055,600 | 560,054 |
IndusInd Bank Ltd.1 | 25,358,775 | 536,736 |
PICC Property and Casualty Co. Ltd., Class H1 | 422,747,869 | 509,733 |
Toronto-Dominion Bank (CAD denominated) | 6,713,945 | 376,556 |
Deutsche Boerse AG1 | 2,324,913 | 365,635 |
HDFC Life Insurance Co. Ltd.1 | 40,913,701 | 358,924 |
Zurich Insurance Group AG1 | 740,995 | 303,912 |
Agricultural Bank of China Ltd., Class H1 | 660,795,000 | 291,398 |
FinecoBank SpA1 | 24,039,406 | 288,550 |
Capitec Bank Holdings Ltd.1 | 2,631,881 | 271,980 |
The People’s Insurance Co. (Group) of China Ltd., Class H1 | 575,442,215 | 239,597 |
Türkiye Garanti Bankasi AS1,2 | 118,419,403 | 221,931 |
BNP Paribas SA1 | 3,191,536 | 189,983 |
Fairfax Financial Holdings Ltd., subordinate voting shares (CAD denominated) | 249,752 | 117,272 |
Fairfax Financial Holdings Ltd., subordinate voting shares | 123,673 | 58,016 |
3i Group PLC1 | 11,890,534 | 173,306 |
Banco Santander, SA1 | 39,109,409 | 165,136 |
Bank of Ireland Group PLC1 | 27,714,235 | 151,950 |
Hong Kong Exchanges and Clearing Ltd.1 | 4,222,500 | 136,858 |
Banco BPM SpA1 | 59,907,284 | 136,380 |
Bank of China Ltd., Class H1 | 301,890,000 | 129,268 |
Sony Financial Holdings Inc.1 | 5,260,200 | 125,911 |
Eurobank Ergasias SA1,2 | 108,318,512 | 112,145 |
Société Générale1 | 3,162,721 | 110,508 |
ING Groep NV1 | 8,844,228 | 106,290 |
BB Seguridade Participações SA | 11,335,200 | 106,231 |
Royal Bank of Canada | 1,244,775 | 98,495 |
Macquarie Group Ltd.1 | 980,098 | 95,062 |
Standard Chartered PLC (GBP denominated)1 | 6,205,717 | 58,611 |
Standard Chartered PLC (HKD denominated)1 | 3,403,100 | 31,747 |
EuroPacific Growth Fund — Page 1 of 13
unaudited
Common stocks (continued) Financials (continued) | Shares | Value (000) |
Hiscox Ltd.1 | 4,627,412 | $87,516 |
Metropolitan Bank & Trust Co.1 | 55,097,310 | 71,907 |
Akbank TAS1,2 | 49,445,463 | 67,457 |
Burford Capital Ltd.1 | 6,507,455 | 61,877 |
Hargreaves Lansdown PLC1 | 2,140,611 | 55,118 |
Credit Suisse Group AG1 | 3,176,530 | 43,109 |
Bank Rakyat Indonesia (Persero) Tbk PT1 | 136,225,600 | 42,993 |
M&G PLC1,2 | 5,044,786 | 15,873 |
26,072,780 | ||
Consumer discretionary 14.70% | ||
Alibaba Group Holding Ltd. (ADR)2 | 10,830,643 | 2,297,180 |
Alibaba Group Holding Ltd.1,2 | 72,197,248 | 1,919,750 |
MercadoLibre, Inc.2,3 | 3,967,654 | 2,269,260 |
LVMH Moët Hennessy-Louis Vuitton SE1 | 4,412,759 | 2,055,159 |
adidas AG1 | 4,490,187 | 1,459,342 |
Sony Corp.1 | 20,998,700 | 1,429,314 |
Galaxy Entertainment Group Ltd.1 | 181,145,000 | 1,335,185 |
Meituan Dianping, Class B1,2 | 90,694,058 | 1,187,708 |
EssilorLuxottica1 | 7,312,728 | 1,117,075 |
Kering SA1 | 1,279,321 | 842,780 |
Melco Resorts & Entertainment Ltd. (ADR)3 | 31,586,861 | 763,454 |
Industria de Diseño Textil, SA1 | 18,589,034 | 658,478 |
Flutter Entertainment PLC1,3 | 5,071,761 | 619,364 |
Sands China Ltd.1 | 106,229,200 | 569,663 |
Stars Group Inc.2,3 | 20,608,005 | 537,663 |
Just Eat PLC1,2,3 | 46,174,077 | 512,390 |
Nitori Holdings Co., Ltd.1 | 3,005,800 | 474,953 |
Fast Retailing Co., Ltd.1 | 718,200 | 425,704 |
Ryohin Keikaku Co., Ltd.1,3 | 18,159,200 | 423,549 |
Hermès International1 | 460,601 | 344,688 |
Maruti Suzuki India Ltd.1 | 3,036,840 | 313,627 |
Suzuki Motor Corp.1 | 7,306,500 | 306,045 |
GVC Holdings PLC1 | 24,954,364 | 292,654 |
Takeaway.com NV1,2,3 | 3,160,665 | 291,953 |
Accor SA1 | 5,212,929 | 244,713 |
ASOS PLC1,2,3 | 5,017,247 | 225,077 |
Naspers Ltd., Class N1 | 1,254,657 | 205,076 |
Prosus NV1,2 | 2,666,453 | 199,523 |
Rakuten, Inc.1 | 22,313,200 | 191,381 |
Barratt Developments PLC1 | 16,501,473 | 163,564 |
Carnival Corp., units | 3,121,000 | 158,640 |
Ferrari NV1 | 755,813 | 125,364 |
Eicher Motors Ltd.1 | 384,086 | 121,274 |
Hyundai Mobis Co., Ltd.1 | 547,600 | 121,093 |
Bayerische Motoren Werke AG1 | 1,447,668 | 119,174 |
Wynn Macau, Ltd.1 | 46,103,200 | 114,043 |
Melco International Development Ltd.1 | 39,494,000 | 111,160 |
Trip.com Group Ltd. (ADR)2 | 3,298,217 | 110,622 |
B2W - Cia. Digital, ordinary nominative2 | 6,652,400 | 103,953 |
Huazhu Group Ltd. (ADR)2 | 2,490,913 | 99,811 |
Valeo SA, non-registered shares1 | 2,218,903 | 78,565 |
Hyundai Motor Co.1 | 665,000 | 69,147 |
William Hill PLC1 | 24,367,137 | 60,910 |
S.A.C.I. Falabella | 11,675,000 | 50,321 |
EuroPacific Growth Fund — Page 2 of 13
unaudited
Common stocks (continued) Consumer discretionary (continued) | Shares | Value (000) |
Peugeot SA1 | 1,859,956 | $44,545 |
Delivery Hero SE1,2 | 507,462 | 40,165 |
Burberry Group PLC1 | 92,530 | 2,708 |
25,207,767 | ||
Information technology 12.48% | ||
ASML Holding NV1 | 12,426,048 | 3,700,604 |
Taiwan Semiconductor Manufacturing Co., Ltd.1 | 214,458,329 | 2,375,013 |
Taiwan Semiconductor Manufacturing Co., Ltd. (ADR) | 6,572,135 | 381,841 |
Keyence Corp.1 | 6,690,000 | 2,367,947 |
Samsung Electronics Co., Ltd.1 | 44,766,600 | 2,157,049 |
SAP SE1 | 9,633,352 | 1,298,285 |
Amadeus IT Group SA, Class A, non-registered shares1 | 15,667,526 | 1,283,747 |
PagSeguro Digital Ltd., Class A2,3 | 26,100,041 | 891,577 |
SK hynix, Inc.1 | 10,438,000 | 848,311 |
Halma PLC1,3 | 24,620,281 | 691,181 |
Tokyo Electron Ltd.1 | 2,317,600 | 509,299 |
Shopify Inc., Class A, subordinate voting shares2 | 1,239,423 | 492,770 |
Worldline SA, non-registered shares1,2 | 6,903,461 | 489,957 |
Temenos AG1 | 2,821,304 | 446,053 |
Capgemini SE1 | 3,631,205 | 444,813 |
Largan Precision Co., Ltd.1 | 2,148,000 | 358,908 |
STMicroelectronics NV1 | 12,756,112 | 344,279 |
Hexagon AB, Class B1 | 6,010,940 | 336,784 |
Nice Ltd. (ADR)2 | 1,791,140 | 277,896 |
Nice Ltd.1,2 | 253,444 | 39,289 |
Adyen NV1,2 | 238,805 | 196,501 |
WiseTech Global Ltd.1 | 10,454,685 | 171,636 |
Nomura Research Institute, Ltd.1 | 7,788,100 | 167,567 |
Murata Manufacturing Co., Ltd.1 | 2,665,200 | 164,776 |
Infineon Technologies AG1 | 6,679,595 | 153,176 |
OBIC Co., Ltd.1 | 1,045,963 | 141,291 |
Shimadzu Corp.1 | 4,261,500 | 133,280 |
SimCorp AS1 | 1,077,997 | 122,491 |
TravelSky Technology Ltd., Class H1 | 48,481,000 | 118,473 |
StoneCo Ltd., Class A2 | 2,935,244 | 117,087 |
MediaTek Inc.1 | 6,176,000 | 91,410 |
Hangzhou Hikvision Digital Technology Co., Ltd., Class A1 | 17,699,965 | 83,343 |
Dassault Systemes SA1 | 29,337 | 4,839 |
21,401,473 | ||
Industrials 11.38% | ||
Airbus SE, non-registered shares1 | 31,055,386 | 4,556,375 |
Recruit Holdings Co., Ltd.1 | 63,291,601 | 2,381,684 |
Melrose Industries PLC1,3 | 342,429,221 | 1,094,529 |
International Consolidated Airlines Group, SA (CDI)1,3 | 128,463,213 | 1,066,788 |
Safran SA1 | 6,398,925 | 991,925 |
MTU Aero Engines AG1,3 | 2,844,369 | 812,228 |
DSV Panalpina A/S1 | 6,321,993 | 731,825 |
Rentokil Initial PLC1,3 | 106,235,150 | 639,534 |
Edenred SA1 | 11,485,706 | 594,327 |
Komatsu Ltd.1 | 24,640,332 | 590,761 |
SMC Corp.1 | 1,277,100 | 583,773 |
DCC PLC1,3 | 5,017,494 | 436,750 |
Knorr-Bremse AG, non-registered shares1 | 4,189,852 | 426,473 |
EuroPacific Growth Fund — Page 3 of 13
unaudited
Common stocks (continued) Industrials (continued) | Shares | Value (000) |
Rolls-Royce Holdings PLC1,2 | 41,294,376 | $373,928 |
Airports of Thailand PCL, foreign registered1 | 144,974,900 | 358,278 |
Nidec Corp.1 | 2,433,900 | 332,481 |
Experian PLC1 | 9,717,575 | 328,674 |
SK Holdings Co., Ltd.1 | 1,351,955 | 305,422 |
Spirax-Sarco Engineering PLC1 | 2,449,114 | 290,011 |
Adani Ports & Special Economic Zone Ltd.1 | 56,338,768 | 289,051 |
NIBE Industrier AB, Class B1 | 16,061,073 | 278,522 |
Shanghai International Airport Co., Ltd., Class A1 | 22,128,360 | 250,314 |
CCR SA, ordinary nominative | 51,565,800 | 243,299 |
Jardine Matheson Holdings Ltd.1 | 4,346,200 | 241,672 |
Rheinmetall AG1 | 1,971,341 | 226,696 |
VINCI SA1 | 1,274,644 | 141,607 |
Bunzl PLC1 | 5,165,978 | 141,344 |
Aalberts NV, non-registered shares1 | 2,934,291 | 132,007 |
Kingspan Group PLC1 | 2,070,235 | 127,503 |
Rational AG1 | 143,721 | 115,589 |
A.P. Møller - Mærsk A/S, Class B1 | 62,657 | 90,411 |
Thales SA1 | 865,670 | 90,064 |
easyJet PLC1 | 4,170,186 | 79,325 |
DP World PLC1 | 5,579,563 | 73,020 |
Ryanair Holdings PLC (ADR)2 | 706,829 | 61,925 |
Alliance Global Group, Inc.1,2 | 123,500,000 | 28,408 |
19,506,523 | ||
Health care 10.31% | ||
Daiichi Sankyo Co., Ltd.1,3 | 39,145,200 | 2,584,870 |
Novartis AG1 | 19,385,753 | 1,836,652 |
AstraZeneca PLC1 | 15,424,230 | 1,543,173 |
Alcon Inc.1,2 | 21,454,539 | 1,215,394 |
Chugai Pharmaceutical Co., Ltd.1 | 13,009,758 | 1,198,251 |
Koninklijke Philips NV (EUR denominated)1 | 17,958,096 | 877,956 |
CSL Ltd.1 | 4,138,304 | 803,125 |
HOYA Corp.1 | 8,344,851 | 796,768 |
Takeda Pharmaceutical Co. Ltd.1 | 19,146,153 | 758,530 |
Fresenius SE & Co. KGaA1 | 11,352,226 | 640,789 |
Teva Pharmaceutical Industries Ltd. (ADR)2,3 | 56,395,960 | 552,680 |
Notre Dame Intermédica Participações SA | 29,670,325 | 503,393 |
Grifols, SA, Class A, non-registered shares1 | 11,098,926 | 391,883 |
Grifols, SA, Class B (ADR) | 3,523,854 | 82,071 |
Hikma Pharmaceuticals PLC1,3 | 14,542,316 | 385,229 |
Asahi Intecc Co., Ltd.1 | 12,007,700 | 353,549 |
Aier Eye Hospital Group Co., Ltd., Class A1 | 60,637,028 | 344,720 |
Bayer AG1 | 3,801,274 | 310,716 |
Galapagos NV1,2 | 1,343,282 | 279,594 |
M3, Inc.1 | 9,158,351 | 276,561 |
NMC Health PLC1,3 | 11,549,631 | 271,132 |
Novo Nordisk A/S, Class B1 | 4,292,035 | 248,937 |
Merck KGaA1 | 2,035,808 | 240,911 |
Fresenius Medical Care AG & Co. KGaA1 | 2,386,067 | 176,970 |
WuXi Biologics (Cayman) Inc.1,2 | 13,515,347 | 171,422 |
Fisher & Paykel Healthcare Corp. Ltd.1 | 9,812,126 | 147,241 |
Straumann Holding AG1 | 149,253 | 146,499 |
bioMérieux SA1 | 1,475,830 | 131,468 |
Coloplast A/S, Class B1 | 1,043,590 | 129,742 |
EuroPacific Growth Fund — Page 4 of 13
unaudited
Common stocks (continued) Health care (continued) | Shares | Value (000) |
Hypera SA, ordinary nominative | 13,411,600 | $118,990 |
Argenx SE (ADR)2 | 573,680 | 92,087 |
GW Pharmaceuticals PLC (ADR)2 | 519,900 | 54,361 |
17,665,664 | ||
Materials 7.31% | ||
Vale SA, ordinary nominative (ADR) | 173,012,518 | 2,283,765 |
Vale SA, ordinary nominative | 53,432,374 | 707,969 |
Sika AG1 | 5,357,723 | 1,008,961 |
Koninklijke DSM NV1 | 7,663,294 | 1,000,339 |
Asahi Kasei Corp.1,3 | 76,942,642 | 863,341 |
Rio Tinto PLC1 | 10,606,953 | 630,233 |
Shin-Etsu Chemical Co., Ltd.1 | 5,739,200 | 629,221 |
Teck Resources Ltd., Class B | 35,293,785 | 612,080 |
First Quantum Minerals Ltd.3 | 54,876,040 | 556,557 |
ArcelorMittal SA1 | 29,705,255 | 524,724 |
UPM-Kymmene Oyj1 | 14,202,553 | 492,224 |
Akzo Nobel NV1 | 3,911,152 | 398,774 |
Fortescue Metals Group Ltd.1 | 47,471,427 | 357,796 |
CCL Industries Inc., Class B, nonvoting shares | 8,159,195 | 347,593 |
Agnico Eagle Mines Ltd. | 4,978,513 | 306,726 |
Chr. Hansen Holding A/S1 | 3,400,664 | 270,149 |
Linde PLC (EUR denominated)1 | 1,142,964 | 245,359 |
Linde PLC | 42,388 | 9,025 |
HeidelbergCement AG1 | 2,657,393 | 193,698 |
CRH PLC1 | 4,381,954 | 175,769 |
Givaudan SA1 | 40,407 | 126,463 |
UltraTech Cement Ltd.1 | 2,112,000 | 119,757 |
LafargeHolcim Ltd.1 | 1,780,078 | 98,708 |
BASF SE1 | 1,276,850 | 96,832 |
Evonik Industries AG1 | 3,121,881 | 95,692 |
Aluminum Corp. of China Ltd., Class H1,2 | 255,082,000 | 87,455 |
Yara International ASA1 | 2,071,639 | 86,323 |
MMG Ltd.1,2 | 267,956,554 | 80,530 |
UPL Ltd.1 | 6,728,493 | 55,118 |
Hindalco Industries Ltd.1 | 16,253,000 | 49,301 |
Indorama Ventures PCL, foreign registered1 | 21,868,400 | 25,291 |
12,535,773 | ||
Energy 5.44% | ||
Reliance Industries Ltd.1 | 219,571,043 | 4,663,952 |
Canadian Natural Resources, Ltd. (CAD denominated) | 27,211,726 | 880,130 |
Canadian Natural Resources, Ltd. | 488,965 | 15,818 |
Cenovus Energy Inc. (CAD denominated)3 | 86,519,305 | 879,485 |
Petróleo Brasileiro SA (Petrobras), ordinary nominative (ADR) | 50,699,672 | 808,153 |
Oil Search Ltd.1,3 | 98,614,614 | 503,067 |
Royal Dutch Shell PLC, Class B1 | 10,487,730 | 312,509 |
Royal Dutch Shell PLC, Class A (GBP denominated)1 | 5,719,398 | 170,006 |
TOTAL SA1 | 6,475,732 | 357,864 |
BP PLC1 | 35,204,201 | 220,989 |
Saipem SpA, Class S1,2 | 28,172,263 | 137,750 |
Ultrapar Participacoes SA, ordinary nominative | 14,168,400 | 89,743 |
Suncor Energy Inc. | 2,501,768 | 81,996 |
Novatek PJSC (GDR)1 | 393,087 | 79,825 |
EuroPacific Growth Fund — Page 5 of 13
unaudited
Common stocks (continued) Energy (continued) | Shares | Value (000) |
Tourmaline Oil Corp. | 5,954,224 | $69,788 |
Neste Oyj1 | 1,686,230 | 58,674 |
9,329,749 | ||
Communication services 5.01% | ||
Nintendo Co., Ltd.1,3 | 9,178,826 | 3,704,999 |
SoftBank Group Corp.1 | 36,110,700 | 1,572,134 |
Tencent Holdings Ltd.1 | 24,851,511 | 1,198,801 |
Altice Europe NV, Class A1,2,3 | 67,254,147 | 434,616 |
Altice Europe NV, Class B1,2,3 | 14,704,331 | 94,170 |
Sea Ltd., Class A (ADR)2 | 12,478,742 | 501,895 |
Cellnex Telecom, SA, non-registered shares1 | 6,047,572 | 260,647 |
ITV PLC1 | 90,479,385 | 181,608 |
Z Holding Corp.1 | 25,914,300 | 108,573 |
América Móvil, SAB de CV, Series L (ADR) | 5,844,589 | 93,514 |
América Móvil, SAB de CV, Series L | 18,821,401 | 15,031 |
Koninklijke KPN NV1 | 36,293,644 | 107,236 |
Nippon Telegraph and Telephone Corp.1 | 3,281,400 | 83,117 |
LG Uplus Corp.1 | 5,053,000 | 61,988 |
Yandex NV, Class A2 | 1,338,307 | 58,203 |
TalkTalk Telecom Group PLC1 | 35,322,348 | 54,398 |
JOYY Inc., Class A (ADR)2 | 851,741 | 44,963 |
ProSiebenSat.1 Media SE1 | 950,247 | 14,859 |
8,590,752 | ||
Consumer staples 4.63% | ||
Nestlé SA1 | 12,283,201 | 1,330,719 |
British American Tobacco PLC1 | 27,054,667 | 1,152,670 |
Kweichow Moutai Co., Ltd., Class A1 | 5,395,701 | 917,368 |
Pernod Ricard SA1 | 4,382,686 | 784,525 |
KOSÉ Corp.1,3 | 3,825,500 | 559,118 |
Thai Beverage PCL1 | 734,086,200 | 485,903 |
Kirin Holdings Co., Ltd.1 | 18,268,545 | 398,450 |
Treasury Wine Estates Ltd.1 | 22,673,130 | 259,102 |
Anheuser-Busch InBev SA/NV1 | 2,867,878 | 235,170 |
Uni-Charm Corp.1 | 6,898,500 | 233,014 |
CP ALL PCL, foreign registered1 | 93,253,866 | 224,293 |
Ambev SA | 41,116,000 | 190,826 |
Coca-Cola European Partners PLC | 3,589,738 | 182,646 |
JBS SA, ordinary nominative | 27,094,704 | 173,775 |
Alimentation Couche-Tard Inc., Class B | 4,975,119 | 157,887 |
LG Household & Health Care Ltd.1 | 123,000 | 133,992 |
Wal-Mart de México, SAB de CV, Series V | 36,212,000 | 103,709 |
Coca-Cola HBC AG (CDI)1 | 3,008,950 | 102,625 |
Philip Morris International Inc. | 1,068,655 | 90,932 |
Shiseido Co., Ltd.1 | 1,028,100 | 73,514 |
Budweiser Brewing Co., APAC Ltd.1,2 | 20,951,800 | 70,741 |
Glanbia PLC1 | 5,191,080 | 60,078 |
Chocoladefabriken Lindt & Sprüngli AG1 | 176 | 15,549 |
7,936,606 | ||
Utilities 2.93% | ||
Ørsted AS1 | 13,306,782 | 1,378,655 |
Enel SpA1 | 107,603,000 | 856,025 |
ENN Energy Holdings Ltd.1,3 | 72,773,500 | 795,681 |
EuroPacific Growth Fund — Page 6 of 13
unaudited
Common stocks (continued) Utilities (continued) | Shares | Value (000) |
China Resources Gas Group Ltd.1,3 | 142,640,000 | $784,033 |
China Gas Holdings Ltd.1 | 206,990,200 | 775,910 |
E.ON SE1 | 17,973,114 | 192,220 |
Guangdong Investment Ltd.1 | 76,118,000 | 159,458 |
SSE PLC1 | 3,987,200 | 76,395 |
5,018,377 | ||
Real estate 1.22% | ||
China Overseas Land & Investment Ltd.1 | 198,474,000 | 775,149 |
Ayala Land, Inc.1 | 390,814,709 | 350,484 |
Vonovia SE1 | 3,342,307 | 179,937 |
ESR Cayman Ltd.1,2 | 75,013,600 | 169,429 |
China Resources Land Ltd.1 | 27,818,639 | 138,611 |
CK Asset Holdings Ltd.1 | 18,378,500 | 133,195 |
Vinhomes JSC1 | 33,474,875 | 122,550 |
Sun Hung Kai Properties Ltd.1 | 7,824,083 | 120,015 |
Longfor Group Holdings Ltd.1 | 22,703,000 | 106,625 |
2,095,995 | ||
Total common stocks (cost: $104,081,353,000) | 155,361,459 | |
Preferred securities 1.30% Consumer discretionary 0.45% | ||
Volkswagen AG, nonvoting preferred shares1 | 3,877,608 | 766,533 |
Health care 0.41% | ||
Sartorius AG, nonvoting preferred, non-registered shares1 | 1,845,153 | 395,026 |
Grifols, SA, Class B, nonvoting preferred, non-registered shares1 | 13,384,217 | 311,918 |
706,944 | ||
Financials 0.35% | ||
Itaú Unibanco Holding SA, preferred nominative (ADR) | 65,802,614 | 602,094 |
Information technology 0.05% | ||
Samsung Electronics Co., Ltd., nonvoting preferred shares1 | 2,440,000 | 95,195 |
Energy 0.04% | ||
Petróleo Brasileiro SA (Petrobras), preferred nominative (ADR) | 4,126,213 | 61,563 |
Real estate 0.00% | ||
Ayala Land, Inc., preference shares1,2,4 | 481,283,600 | 855 |
Total preferred securities (cost: $1,772,652,000) | 2,233,184 | |
Rights & warrants 0.08% Health care 0.08% | ||
WuXi AppTec Co., Ltd., Class A, warrants, expire 20201,5 | 10,939,880 | 144,791 |
Total rights & warrants (cost: $83,560,000) | 144,791 |
EuroPacific Growth Fund — Page 7 of 13
unaudited
Bonds, notes & other debt instruments 0.06% U.S. Treasury bonds & notes 0.06% U.S. Treasury 0.06% | Principal amount (000) | Value (000) |
U.S. Treasury 2.50% 20206 | $100,000 | $100,852 |
Total U.S. Treasury bonds & notes | 100,852 | |
Bonds & notes of governments & government agencies outside the U.S. 0.00% | ||
Argentine Republic (Argentina Central Bank 7D Repo Reference Rate) 70.253% 20207 | ARS115,723 | 1,012 |
Argentine Republic (Badlar Private Banks ARS Index + 2.00%) 55.469% 20227 | 305,564 | 2,882 |
3,894 | ||
Total bonds, notes & other debt instruments (cost: $112,579,000) | 104,746 | |
Short-term securities 8.27% Money market investments 8.19% | Shares | |
Capital Group Central Cash Fund 1.73%3,8 | 140,401,979 | 14,040,198 |
Other short-term securities 0.08% | Principal amount (000) | |
Argentinian Treasury Bills (10.54%)–65.81%due 9/30/2019–7/31/20209 | ARS10,843,453 | 134,455 |
Total short-term securities (cost: $14,291,270,000) | 14,174,653 | |
Total investment securities100.33% (cost: $120,341,414,000) | 172,018,833 | |
Other assets less liabilities (0.33)% | (569,697) | |
Net assets100.00% | $171,449,136 |
Forward currency contracts
Contract amount | Counterparty | Settlement date | Unrealized depreciation at 12/31/2019 (000) | |
Purchases (000) | Sales (000) | |||
GBP14,722 | USD19,639 | JPMorgan Chase | 1/9/2020 | $(133) |
USD132,234 | GBP100,572 | Barclays Bank PLC | 1/9/2020 | (1,019) |
$(1,152) |
EuroPacific Growth Fund — Page 8 of 13
unaudited
Investments in affiliates
A company is an affiliate of the fund under the Investment Company Act of 1940 if the fund’s holdings represent 5% or more of the outstanding voting shares of that company. Further details on these holdings and related transactions during the nine months ended December 31, 2019, appear below.
Beginning shares | Additions | Reductions | Ending shares | Net realized gain (loss) (000) | Net unrealized appreciation (depreciation) (000) | Dividend income (000) | Value of affiliates at 12/31/2019 (000) | |
Common stocks 14.14% | ||||||||
Consumer discretionary 3.29% | ||||||||
MercadoLibre, Inc.2 | 3,424,500 | 561,436 | 18,282 | 3,967,654 | $6,924 | $225,384 | $— | $2,269,260 |
Melco Resorts & Entertainment Ltd. (ADR) | 32,297,140 | 575,000 | 1,285,279 | 31,586,861 | (8,108) | 57,027 | 15,836 | 763,454 |
Flutter Entertainment PLC1 | 2,325,681 | 2,764,000 | 17,920 | 5,071,761 | 615 | 150,521 | 5,949 | 619,364 |
Stars Group Inc.2 | — | 20,620,454 | 12,449 | 20,608,005 | 53 | 48,036 | — | 537,663 |
Just Eat PLC1,2 | 54,396,000 | — | 8,221,923 | 46,174,077 | (25,341) | 69,887 | — | 512,390 |
Ryohin Keikaku Co., Ltd.1 | 2,164,000 | 16,380,900 | 385,700 | 18,159,200 | (41,107) | (15,268) | 3,233 | 423,549 |
Takeaway.com NV1,2 | — | 3,176,472 | 15,807 | 3,160,665 | 272 | 36,048 | — | 291,953 |
ASOS PLC1,2 | 5,897,884 | 530,187 | 1,410,824 | 5,017,247 | (24,318) | 55,174 | — | 225,077 |
Galaxy Entertainment Group Ltd.1,10 | 224,749,000 | 17,726,000 | 61,330,000 | 181,145,000 | (11,191) | 108,444 | 12,475 | — |
GVC Holdings PLC1,10 | 31,312,683 | — | 6,358,319 | 24,954,364 | (36,198) | 150,691 | 5,338 | — |
5,642,710 | ||||||||
Information technology 0.92% | ||||||||
PagSeguro Digital Ltd., Class A2 | 24,308,238 | 1,922,333 | 130,530 | 26,100,041 | 2,259 | 103,991 | — | 891,577 |
Halma PLC1 | 22,653,157 | 2,090,072 | 122,948 | 24,620,281 | 2,061 | 150,552 | 5,046 | 691,181 |
1,582,758 | ||||||||
Industrials 2.36% | ||||||||
Melrose Industries PLC1 | 290,421,746 | 53,575,713 | 1,568,238 | 342,429,221 | 1,088 | 268,636 | 17,734 | 1,094,529 |
International Consolidated Airlines Group, SA (CDI)1 | 129,105,675 | — | 642,462 | 128,463,213 | 2,324 | 207,626 | 95,582 | 1,066,788 |
MTU Aero Engines AG1 | 3,144,000 | — | 299,631 | 2,844,369 | 16,994 | 163,742 | 10,089 | 812,228 |
Rentokil Initial PLC1 | 53,636,506 | 53,028,794 | 430,150 | 106,235,150 | 489 | 108,488 | 3,689 | 639,534 |
DCC PLC1 | 4,784,045 | 258,000 | 24,551 | 5,017,494 | 198 | 2,183 | 8,871 | 436,750 |
Yamato Holdings Co., Ltd.1,10 | 25,518,093 | 178,692 | 25,696,785 | — | (247,256) | (473) | — | — |
4,049,829 | ||||||||
Health care 2.21% | ||||||||
Daiichi Sankyo Co., Ltd.1 | 34,141,000 | 5,200,000 | 195,800 | 39,145,200 | 7,743 | 604,608 | 12,729 | 2,584,870 |
Teva Pharmaceutical Industries Ltd. (ADR)2 | 52,991,159 | 3,685,000 | 280,199 | 56,395,960 | (809) | (326,038) | — | 552,680 |
Hikma Pharmaceuticals PLC1 | 14,615,045 | — | 72,729 | 14,542,316 | 836 | 45,131 | 5,841 | 385,229 |
NMC Health PLC1 | 12,262,303 | 1,965,000 | 2,677,672 | 11,549,631 | (37,249) | (34,175) | 2,213 | 271,132 |
GW Pharmaceuticals PLC (ADR)2,10 | 1,816,499 | — | 1,296,599 | 519,900 | 8,870 | (79,668) | — | — |
3,793,911 | ||||||||
Materials 0.83% | ||||||||
Asahi Kasei Corp.1 | 76,292,742 | 1,032,000 | 382,100 | 76,942,642 | 1,724 | 69,336 | 12,867 | 863,341 |
First Quantum Minerals Ltd. | 54,022,483 | 1,128,000 | 274,443 | 54,876,040 | 2,097 | (67,770) | 409 | 556,557 |
Chr. Hansen Holding A/S1,10 | 7,314,000 | — | 3,913,336 | 3,400,664 | 207,499 | (378,219) | 11,468 | — |
1,419,898 |
EuroPacific Growth Fund — Page 9 of 13
unaudited
Investments in affiliates (continued)
Beginning shares | Additions | Reductions | Ending shares | Net realized gain (loss) (000) | Net unrealized appreciation (depreciation) (000) | Dividend income (000) | Value of affiliates at 12/31/2019 (000) | |
Energy 0.81% | ||||||||
Cenovus Energy Inc. (CAD denominated) | 69,818,000 | 17,134,000 | 432,695 | 86,519,305 | $754 | $105,352 | $10,648 | $879,485 |
Oil Search Ltd.1 | 94,187,800 | 4,920,000 | 493,186 | 98,614,614 | 94 | (43,695) | 4,942 | 503,067 |
Tourmaline Oil Corp.10 | 16,547,000 | — | 10,592,776 | 5,954,224 | (274,476) | 186,759 | 3,529 | — |
1,382,552 | ||||||||
Communication services 2.47% | ||||||||
Nintendo Co., Ltd.1 | 9,070,426 | 1,373,200 | 1,264,800 | 9,178,826 | 204,588 | 898,219 | 35,714 | 3,704,999 |
Altice Europe NV, Class A1,2 | 62,627,628 | 6,186,569 | 1,560,050 | 67,254,147 | 4,889 | 256,792 | — | 434,616 |
Altice Europe NV, Class B1,2 | 14,777,869 | — | 73,538 | 14,704,331 | (372) | 56,347 | — | 94,170 |
4,233,785 | ||||||||
Consumer staples 0.33% | ||||||||
KOSÉ Corp.1 | 1,048,500 | 2,791,700 | 14,700 | 3,825,500 | 721 | (84,904) | 3,135 | 559,118 |
Utilities 0.92% | ||||||||
ENN Energy Holdings Ltd.1 | 77,627,000 | — | 4,853,500 | 72,773,500 | (3,530) | 95,932 | 11,106 | 795,681 |
China Resources Gas Group Ltd.1 | 76,616,000 | 69,242,000 | 3,218,000 | 142,640,000 | 1,594 | 97,133 | 11,588 | 784,033 |
1,579,714 | ||||||||
Short-term securities 8.19% | ||||||||
Money market investments 8.19% | ||||||||
Capital Group Central Cash Fund 1.73%8 | 93,044,336 | 145,400,210 | 98,042,567 | 140,401,979 | (5,907) | 6,431 | 186,766 | 14,040,198 |
Total 22.33% | $(241,176) | $3,298,260 | $496,797 | $38,284,473 |
The following footnotes apply to either the individual securities noted or one or more of the securities aggregated and listed as a single line item.
1 | Valued under fair value procedures adopted by authority of the board of trustees. The total value of all such securities was $134,530,235,000, which represented 78.47% of the net assets of the fund. This amount includes $134,384,589,000 related to certain securities trading outside the U.S. whose values were adjusted as a result of significant market movements following the close of local trading. |
2 | Security did not produce income during the last 12 months. |
3 | Represents an affiliated company as defined under the Investment Company Act of 1940. |
4 | Value determined using significant unobservable inputs. |
5 | Acquired in a transaction exempt from registration under Rule 144A of the Securities Act of 1933. May be resold in the U.S. in transactions exempt from registration, normally to qualified institutional buyers. The total value of all such securities was $144,791,000, which represented .08% of the net assets of the fund. |
6 | All or a portion of this security was pledged as collateral. The total value of pledged collateral was $562,000, which represented less than .01% of the net assets of the fund. |
7 | 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. |
8 | Rate represents the seven-day yield at 12/31/2019. |
9 | Scheduled interest and/or principal payment was not received. |
10 | Unaffiliated issuer at 12/31/2019. |
EuroPacific Growth Fund — Page 10 of 13
unaudited
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 of each share class of the fund is generally determined as of approximately 4:00 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 are generally valued at the official closing price of, or the last reported sale price on, the exchange or market on which such securities are traded, as of the close of business on the day the securities are being valued or, lacking any sales, at the last available bid price. Prices for each security are taken from the principal exchange or market on which the security trades.
Fixed-income securities, including short-term securities, are generally valued at prices obtained from one or more pricing vendors. Vendors value such securities based on one or more of the inputs described in the following table. The table provides examples of inputs that are commonly relevant for valuing particular classes of fixed-income securities in which the fund is authorized to invest. However, these classifications are not exclusive, and any of the inputs may be used to value any other class of fixed-income security.
Fixed-income class | Examples of standard inputs |
All | Benchmark yields, transactions, bids, offers, quotations from dealers and trading systems, new issues, spreads and other relationships observed in the markets among comparable securities; and proprietary pricing models such as yield measures calculated using factors such as cash flows, financial or collateral performance and other reference data (collectively referred to as “standard inputs”) |
Corporate bonds & notes; convertible securities | Standard inputs and underlying equity of the issuer |
Bonds & notes of governments & government agencies | Standard inputs and interest rate volatilities |
When the fund’s investment adviser deems it appropriate to do so (such as when vendor prices are unavailable or deemed to be not representative), fixed-income securities will be valued in good faith at the mean quoted bid and ask prices that are reasonably and timely available (or bid prices, if ask prices are not available) or at prices for securities of comparable maturity, quality and type.
Securities with both fixed-income and equity characteristics, or equity securities traded principally among fixed-income dealers, are generally valued in the manner described for either equity or fixed-income securities, depending on which method is deemed most appropriate by the fund’s investment adviser. The Capital Group Central Cash Fund (“CCF”), a fund within the Capital Group Central Fund Series (“Central Funds“), is valued based upon a floating net asset value, which fluctuates with changes in the value of CCF’s portfolio securities. The underlying securities are valued based on the policies and procedures in CCF’s statement of additional information. Forward currency contracts are valued at the mean of representative quoted bid and ask prices, generally based on prices supplied by one or more pricing vendors. The average month-end notional amount of open forward currency contracts while held was $505,783,000.
Securities and other assets for which representative market quotations are not readily available or are considered unreliable by the fund’s investment adviser are fair valued as determined in good faith under fair valuation guidelines adopted by authority of the fund’s board of trustees as further described. The investment adviser follows fair valuation guidelines, consistent with U.S. Securities and Exchange Commission rules and guidance, to consider relevant principles and factors when making fair value determinations. The investment adviser considers relevant indications of value that are reasonably and timely available to it in determining the fair value to be assigned to a particular security, such as the type and cost of the security; contractual or legal restrictions on resale of the security; relevant financial or business developments of the issuer; actively traded similar or related securities; conversion or exchange rights on the security; related corporate actions; significant events occurring after the close of trading in the security; and changes in overall market conditions. In addition, the closing prices of equity securities that trade in markets outside U.S. time zones may be adjusted to reflect significant events that occur after the close of local trading but before the net asset value of each share class of the fund is determined. Fair valuations and valuations of investments that are not actively trading involve judgment and may differ materially from valuations that would have been used had greater market activity occurred.
EuroPacific Growth Fund — Page 11 of 13
unaudited
Processes and structure — The fund’s board of trustees has delegated authority to the fund’s investment adviser to make fair value determinations, subject to board oversight. The investment adviser has established a Joint Fair Valuation Committee (the “Fair Valuation Committee”) to administer, implement and oversee the fair valuation process, and to make fair value decisions. The Fair Valuation Committee regularly reviews its own fair value decisions, as well as decisions made under its standing instructions to the investment adviser’s valuation teams. The Fair Valuation Committee reviews changes in fair value measurements from period to period and may, as deemed appropriate, update the fair valuation guidelines to better reflect the results of back testing and address new or evolving issues. The Fair Valuation Committee reports any changes to the fair valuation guidelines to the board of trustees. The fund’s board and audit committee also regularly review reports that describe fair value determinations and methods.
The fund’s investment adviser has also established a Fixed-Income Pricing Review Group to administer and oversee the fixed-income valuation process, including the use of fixed-income pricing vendors. This group regularly reviews pricing vendor information and market data. Pricing decisions, processes and controls over security valuation are also subject to additional internal reviews, including an annual control self-evaluation program facilitated by the investment adviser’s compliance group.
Classifications — The fund’s investment adviser classifies the fund’s assets and liabilities into three levels based on the inputs used to value the assets or liabilities. Level 1 values are based on quoted prices in active markets for identical securities. Level 2 values are based on significant observable market inputs, such as quoted prices for similar securities and quoted prices in inactive markets. Certain securities trading outside the U.S. may transfer between Level 1 and Level 2 due to valuation adjustments resulting from significant market movements following the close of local trading. Level 3 values are based on significant unobservable inputs that reflect the investment adviser’s determination of assumptions that market participants might reasonably use in valuing the securities. The valuation levels are not necessarily an indication of the risk or liquidity associated with the underlying investment. For example, U.S. government securities are reflected as Level 2 because the inputs used to determine fair value may not always be quoted prices in an active market. The following tables present the fund’s valuation levels as of December 31, 2019 (dollars in thousands):
Investment securities | ||||
Level 1 | Level 2 | Level 3 | Total | |
Assets: | ||||
Common stocks: | ||||
Financials | $3,022,452 | $23,050,328 | $— | $26,072,780 |
Consumer discretionary | 6,390,904 | 18,816,863 | — | 25,207,767 |
Information technology | 2,161,171 | 19,240,302 | — | 21,401,473 |
Industrials | 305,224 | 19,201,299 | — | 19,506,523 |
Health care | 1,403,582 | 16,262,082 | — | 17,665,664 |
Materials | 4,823,715 | 7,712,058 | — | 12,535,773 |
Energy | 2,825,113 | 6,504,636 | — | 9,329,749 |
Communication services | 713,606 | 7,877,146 | — | 8,590,752 |
Consumer staples | 899,775 | 7,036,831 | — | 7,936,606 |
Utilities | — | 5,018,377 | — | 5,018,377 |
Real estate | — | 2,095,995 | — | 2,095,995 |
Preferred securities | 663,657 | 1,568,672 | 855 | 2,233,184 |
Rights & warrants | — | 144,791 | — | 144,791 |
Bonds, notes & other debt instruments | — | 104,746 | — | 104,746 |
Short-term securities | 14,040,198 | 134,455 | — | 14,174,653 |
Total | $37,249,397 | $134,768,581 | $855 | $172,018,833 |
Other investments* | ||||
Level 1 | Level 2 | Level 3 | Total | |
Liabilities: | ||||
Unrealized depreciation on open forward currency contracts | $— | $(1,152) | $— | $(1,152) |
* | Forward currency contracts are not included in the investment portfolio. |
EuroPacific Growth Fund — Page 12 of 13
unaudited
Key to abbreviations and symbol |
ADR = American Depositary Receipts |
ARS = Argentine pesos |
CAD = Canadian dollars |
CDI = CREST Depository Interest |
EUR = Euros |
GBP = British pounds |
GDR = Global Depositary Receipts |
HKD = Hong Kong dollars |
USD/$ = 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.
© 2020 Capital Group. All rights reserved.
MFGEFPX-016-0220O-S73181 | EuroPacific Growth Fund — Page 13 of 13 |